XML 46 R35.htm IDEA: XBRL DOCUMENT v3.19.1
SEGMENTS (Tables)
 3 Months Ended
Mar. 31, 2019
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]  
Schedule of Segment Reporting Information, by Segment
Total assets by industry segment at March 31, 2019 and December 31, 2018 are summarized below (dollars in thousands):

Assets by industry segment
 
Total
 
P&C Insurance Operations
 
Life Insurance Operations
 
Non-Insurance Operations
 
 
 
 
 
 
 
 
 
March 31, 2019
 
$
149,839

 
$
84,993

 
$
61,212

 
$
3,634

 
 


 
 
 
 
 
 
December 31, 2018
 
$
144,231

 
$
80,994

 
$
59,479

 
$
3,758

Premium revenues and operating income by business segment for the three months ended March 31, 2019 and 2018 are summarized below (dollars in thousands):

Three months ended March 31, 2019
P&C Insurance Operations
 
Life Insurance Operations
 
Non-Insurance Operations
 
Inter- company Eliminations
 
Total
REVENUE
 
 
 
 
 
 
 
 
 
Net premiums earned
$
13,261

 
$
1,457

 
$
—

 
$
—

 
$
14,718

Net investment income
409

 
675

 
13

 
(135
)
 
962

Investment gains
2,023

 
94

 
3

 
—

 
2,120

Other income
136

 
246

 
235

 
(471
)
 
146

 
15,829

 
2,472

 
251

 
(606
)
 
17,946

BENEFITS AND EXPENSES
 

 
 

 
 

 
 
 
 

Policyholder benefits paid
7,982

 
1,165

 
—

 
(124
)
 
9,023

Amortization of deferred policy acquisition costs
681

 
299

 
—

 
—

 
980

Commissions
1,956

 
77

 
—

 
—

 
2,033

General and administrative expenses
1,934

 
473

 
407

 
(482
)
 
2,332

Taxes, licenses and fees
592

 
95

 
—

 
—

 
687

Interest expense
—

 
10

 
285

 
—

 
295

 
13,145

 
2,119

 
692

 
(606
)
 
15,350

Income (Loss) Before Income Taxes
2,684

 
353

 
(441
)
 
—

 
2,596

INCOME TAX EXPENSE (BENEFIT)
149

 
96

 
(92
)
 
—

 
153

Net Income (Loss)
$
2,535

 
$
257

 
$
(349
)
 
$
—

 
$
2,443



Three months ended March 31, 2018
 
P&C Insurance Operations
 
Life Insurance Operations
 
Non-Insurance Operations
 
Inter-company
Eliminations
 
Total
REVENUE
 
 
 
 
 
 
 
 
 
 
Net premiums earned
 
$
13,531

 
$
1,528

 
$
—

 
$
—

 
$
15,059

Net investment income
 
390

 
651

 
14

 
(135
)
 
920

Investment gains (losses)
 
(313
)
 
49

 
—

 
—

 
(264
)
Other income
 
160

 
218

 
227

 
(444
)
 
161

 
 
13,768

 
2,446

 
241

 
(579
)
 
15,876

BENEFITS AND EXPENSES
 
 

 
 

 
 

 
 
 
 

Policyholder benefits paid
 
8,088

 
1,449

 
—

 
(110
)
 
9,427

Amortization of deferred policy acquisition costs
 
690

 
113

 
—

 
—

 
803

Commissions
 
2,012

 
48

 
—

 
—

 
2,060

General and administrative expenses
 
1,779

 
649

 
44

 
(469
)
 
2,003

Taxes, licenses and fees
 
553

 
96

 
—

 
—

 
649

Interest expense
 
—

 
12

 
290

 
—

 
302

 
 
13,122

 
2,367

 
334

 
(579
)
 
15,244

Income (Loss) Before Income Taxes
 
646

 
79

 
(93
)
 
—

 
632

INCOME TAX EXPENSE (BENEFIT)
 
162

 
18

 
(19
)
 
—

 
161

Net Income (Loss)
 
$
484

 
$
61

 
$
(74
)
 
$
—

 
$
471
Schedule of Gross and Net Premiums Written
The following table presents the Company’s gross and net premiums written for the property and casualty segment and the life and accident and health segment for the three months ended March 31, 2019 and 2018, respectively:
 
 
Three months ended
March 31,
 
 
2019

2018
Life, accident and health operations premiums written:
 

 
 

Traditional life insurance
 
$
1,057

 
$
1,120

Accident and health insurance
 
405

 
415

Gross life, accident and health
 
1,462

 
1,535

Reinsurance premium ceded
 
(38
)
 
(31
)
Net life, accident and health premiums written
 
$
1,424

 
$
1,504

Property and Casualty operations premiums written:
 

 
 

Dwelling fire & extended coverage
 
$
9,928

 
$
9,553

Homeowners (Including mobile homeowners)
 
4,971

 
5,312

Other liability
 
575

 
565

Gross property and casualty
 
15,474

 
15,430

Reinsurance premium ceded
 
(1,298
)
 
(1,154
)
Net property and casualty written
 
$
14,176

 
$
14,276

Consolidated gross premiums written
 
$
16,936

 
$
16,965

Reinsurance premium ceded
 
(1,336
)
 
(1,185
)
Consolidated net premiums written
 
$
15,600

 
$
15,780
Schedule of Gross and Net Premiums Earned
The following table presents the Company’s gross and net premiums earned for the property and casualty segment and the life and accident and health segment for the three months ended March 31, 2019 and 2018, respectively:



Three months ended
March 31,
 

2019
 
2018
Life, accident and health operations premiums earned:
 

 
Traditional life insurance

$
1,090

 
$
1,144

Accident and health insurance

405

 
415

Gross life, accident and health

1,495

 
1,559

Reinsurance premium ceded

(38
)
 
(31
)
Net life, accident and health premiums earned

$
1,457

 
$
1,528

Property and Casualty operations premiums earned:





Dwelling fire & extended coverage

$
9,280

 
$
9,116

Homeowners (Including mobile homeowners)

5,196

 
5,497

Other liability

541

 
530

Gross property and casualty

15,017

 
15,143

Reinsurance premium ceded

(1,756
)
 
(1,612
)
Net property and casualty earned

$
13,261

 
$
13,531

Consolidated gross premiums earned

$
16,512

 
$
16,702

Reinsurance premium ceded

(1,794
)
 
(1,643
)
Consolidated net premiums earned

$
14,718

 
$
15,059