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SEGMENTS
 3 Months Ended
Mar. 31, 2021
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]  
SEGMENTS SEGMENTS
The Company’s property and casualty insurance operations comprise one business segment. The property and casualty insurance segment primarily underwrites home insurance coverage with primary lines of business consisting of dwelling fire and extended coverage, homeowners (including mobile homeowners) and other liability. 

Management organizes the business utilizing a niche strategy focusing on lower valued dwellings and older homes that can be difficult to insure in the standard insurance market.  Our chief decision makers (Chief Executive Officer, Chief Financial Officer and subsidiary President) review results and operating plans making decisions on resource allocations on a company-wide basis.  The Company’s products are primarily produced through independent agents within the states in which we operate.  

The Company’s life and accident and health operations comprise the second business segment.  The life and accident and health insurance segment consists of two lines of business: traditional life insurance and supplemental accident and health insurance.

Total assets by industry segment at March 31, 2021 and December 31, 2020 are summarized below:
($ in thousands)

Assets by industry segment
TotalP&C Insurance OperationsLife Insurance OperationsNon-Insurance Operations
    
March 31, 2021$151,575 $87,641 $58,208 $5,726 
December 31, 2020$150,540 $85,375 $59,394 $5,771 
Net income (loss) by business segment for the three months ended March 31, 2021 and 2020 is summarized below:
($ in thousands)
Three months ended March 31, 2021
P&C Insurance OperationsLife Insurance OperationsNon-Insurance OperationsInter- company EliminationsTotal
REVENUES    
Net premiums earned$13,672 $1,390 $— $— $15,062 
Net investment income305 622 12 (135)804 
Investment gains101 203 6 — 310 
Other income136 204 240 (444)136 
 14,214 2,419 258 (579)16,312 
BENEFITS AND EXPENSES    
Policyholder benefits paid7,956 1,447 — (100)9,303 
Amortization of deferred policy acquisition costs687 284 — — 971 
Commissions2,059 77 — — 2,136 
General and administrative expenses2,071 402 310 (479)2,304 
Taxes, licenses and fees449 87 — — 536 
Interest expense— 10 128 — 138 
 13,222 2,307 438 (579)15,388 
Income (Loss) Before Income Taxes992 112 (180)— 924 
INCOME TAX EXPENSE (BENEFIT)220 23 (41)— 202 
Net Income (Loss)$772 $89 $(139)$— $722 

($ in thousands)
Three months ended March 31, 2020
P&C Insurance OperationsLife Insurance OperationsNon-Insurance OperationsInter-company
Eliminations		Total
REVENUES   
Net premiums earned$13,522 $1,433 $— $— $14,955 
Net investment income425 663 11 (135)964 
Investment losses(438)(527)(25)— (990)
Other income145 258 231 (489)145 
 13,654 1,827 217 (624)15,074 
BENEFITS AND EXPENSES    
Policyholder benefits paid9,591 1,138 — (146)10,583 
Amortization of deferred policy acquisition costs681 384 — — 1,065 
Commissions1,990 85 — — 2,075 
General and administrative expenses1,821 400 (349)(478)1,394 
Taxes, licenses and fees619 102 — — 721 
Interest expense— 9 252 — 261 
 14,702 2,118 (97)(624)16,099 
Income (Loss) Before Income Taxes(1,048)(291)314 — (1,025)
INCOME TAX EXPENSE (BENEFIT)(168)(62)65 — (165)
Net Income (Loss)$(880)$(229)$249 $— $(860)
The following table presents the Company’s gross and net premiums written for the property and casualty segment and the life and accident and health segment for the three months ended March 31, 2021 and 2020, respectively:
($ in thousands)Three months ended
March 31,
 20212020
Life, accident and health operations premiums written:  
Traditional life insurance$1,018 $1,058 
Accident and health insurance392 407 
Gross life, accident and health1,410 1,465 
Reinsurance premium ceded(43)(35)
Net life, accident and health premiums written$1,367 $1,430 
Property and Casualty operations premiums written:  
Dwelling fire & extended coverage$11,863 $10,252 
Homeowners (Including mobile homeowners)5,027 4,835 
Other liability534 579 
Gross property and casualty17,424 15,666 
Reinsurance premium ceded(2,405)(1,765)
Net property and casualty written$15,019 $13,901 
Consolidated gross premiums written$18,834 $17,131 
Reinsurance premium ceded(2,448)(1,800)
Consolidated net premiums written$16,386 $15,331 

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, 2021 and 2020, respectively:

($ in thousands)Three months ended
March 31,
 20212020
Life, accident and health operations premiums earned:  
Traditional life insurance$1,042 $1,066 
Accident and health insurance391 402 
Gross life, accident and health1,433 1,468 
Reinsurance premium ceded(43)(35)
Net life, accident and health premiums earned$1,390 $1,433 
Property and Casualty operations premiums earned:
Dwelling fire & extended coverage$10,178 $9,652 
Homeowners (Including mobile homeowners)5,362 5,081 
Other liability537 554 
Gross property and casualty16,077 15,287 
Reinsurance premium ceded(2,405)(1,765)
Net property and casualty earned$13,672 $13,522 
Consolidated gross premiums earned$17,510 $16,755 
Reinsurance premium ceded(2,448)(1,800)
Consolidated net premiums earned$15,062 $14,955