XML 46 R35.htm IDEA: XBRL DOCUMENT v3.21.2
SEGMENTS (Tables)
 6 Months Ended
Jun. 30, 2021
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]  
Schedule of Segment Reporting Information, by Segment
Total assets by industry segment at June 30, 2021 and December 31, 2020 are summarized below:

($ in thousands)

Assets by industry segment
TotalP&C Insurance OperationsLife Insurance OperationsNon-Insurance Operations
    
June 30, 2021$153,548 $88,030 $59,744 $5,774 
December 31, 2020$150,540 $85,375 $59,394 $5,771 
Net income (loss) by business segment for the three and six months ended June 30, 2021 and 2020 is summarized below:
($ in thousands)

Three months ended June 30, 2021
P&C Insurance OperationsLife Insurance OperationsNon-Insurance OperationsInter- company EliminationsTotal
REVENUES    
Net premiums earned$13,319 $1,495 $— $— $14,814 
Net investment income418 575 9 (135)867 
Investment gains (losses)137 306 (12)— 431 
Other income131 215 311 (526)131 
 14,005 2,591 308 (661)16,243 
BENEFITS AND EXPENSES    
Policyholder benefits paid10,708 1,116 — (115)11,709 
Amortization of deferred policy acquisition costs687 143 — — 830 
Commissions1,619 80 — — 1,699 
General and administrative expenses2,217 505 390 (546)2,566 
Taxes, licenses and fees589 39 — — 628 
Interest expense— 10 143 — 153 
 15,820 1,893 533 (661)17,585 
Income (Loss) Before Income Taxes(1,815)698 (225)— (1,342)
INCOME TAX EXPENSE (BENEFIT)(403)(111)211 — (303)
Net Income (Loss)$(1,412)$809 $(436)$— $(1,039)

($ in thousands)

Three months ended June 30, 2020
P&C Insurance OperationsLife Insurance OperationsNon-Insurance OperationsInter- company EliminationsTotal
REVENUES    
Net premiums earned$13,688 $1,484 $— $— $15,172 
Net investment income355 726 15 (135)961 
Investment gains453 76 19 — 548 
Other income142 329 291 (619)143 
 14,638 2,615 325 (754)16,824 
BENEFITS AND EXPENSES    
Policyholder benefits paid15,822 1,124 — (210)16,736 
Amortization of deferred policy acquisition costs681 167 — — 848 
Commissions1,990 57 — — 2,047 
General and administrative expenses2,065 442 530 (544)2,493 
Taxes, licenses and fees557 37 — — 594 
Interest expense— 10 189 — 199 
 21,115 1,837 719 (754)22,917 
Income (Loss) Before Income Taxes(6,477)778 (394)— (6,093)
INCOME TAX EXPENSE (BENEFIT)(1,422)137 (82)— (1,367)
Net Income (Loss)$(5,055)$641 $(312)$— $(4,726)
($ in thousands)

Six months ended June 30, 2021
P&C Insurance OperationsLife Insurance OperationsNon-Insurance OperationsInter- company EliminationsTotal
REVENUES    
Net premiums earned$26,991 $2,885 $— $— $29,876 
Net investment income723 1,197 21 (270)1,671 
Investment gains (losses)238 509 (6)— 741 
Other income267 419 551 (970)267 
 28,219 5,010 566 (1,240)32,555 
BENEFITS AND EXPENSES    
Policyholder benefits paid18,664 2,563 — (215)21,012 
Amortization of deferred policy acquisition costs1,374 427 — — 1,801 
Commissions3,678 157 — — 3,835 
General and administrative expenses4,288 907 700 (1,025)4,870 
Taxes, licenses and fees1,038 126 — — 1,164 
Interest expense— 20 271 — 291 
 29,042 4,200 971 (1,240)32,973 
Income (Loss) Before Income Taxes(823)810 (405)— (418)
INCOME TAX EXPENSE (BENEFIT)(183)(88)170 — (101)
Net Income (Loss)$(640)$898 $(575)$— $(317)


($ in thousands)

Six months ended June 30, 2020
P&C Insurance OperationsLife Insurance OperationsNon-Insurance OperationsInter-company
Eliminations		Total
REVENUES   
Net premiums earned$27,210 $2,917 $— $— $30,127 
Net investment income780 1,389 26 (270)1,925 
Investment gains (losses)15 (451)(6)— (442)
Other income287 587 522 (1,108)288 
 28,292 4,442 542 (1,378)31,898 
BENEFITS AND EXPENSES    
Policyholder benefits paid25,413 2,262 — (356)27,319 
Amortization of deferred policy acquisition costs1,362 551 — — 1,913 
Commissions3,980 142 — — 4,122 
General and administrative expenses3,886 842 181 (1,022)3,887 
Taxes, licenses and fees1,176 139 — — 1,315 
Interest expense— 19 441 — 460 
 35,817 3,955 622 (1,378)39,016 
Income (Loss) Before Income Taxes(7,525)487 (80)— (7,118)
INCOME TAX EXPENSE (BENEFIT)(1,590)75 (17)— (1,532)
Net Income (Loss)$(5,935)$412 $(63)$— $(5,586)
Schedule of Gross and Net Premiums Written
The following table presents the Company’s gross and net premiums written for the property and casualty segment and the life and accident and health segment for the three and six months ended June 30, 2021 and 2020, respectively:
($ in thousands)Three months ended
June 30,		Six months ended
June 30,
 2021202020212020
Life, accident and health operations premiums written:   
Traditional life insurance$1,013 $1,025 $2,031 $2,083 
Accident and health insurance394 385 786 792 
Gross life, accident and health1,407 1,410 2,817 2,875 
Reinsurance premium ceded(16)(22)(59)(57)
Net life, accident and health premiums written$1,391 $1,388 $2,758 $2,818 
Property and Casualty operations premiums written:   
Dwelling fire & extended coverage$12,760 $11,142 $24,623 $21,394 
Homeowners (Including mobile homeowners)5,683 5,893 10,710 10,728 
Other liability544 612 1,078 1,191 
Gross property and casualty18,987 17,647 36,411 33,313 
Reinsurance premium ceded(2,522)(1,783)(4,927)(3,548)
Net property and casualty written$16,465 $15,864 $31,484 $29,765 
Consolidated gross premiums written$20,394 $19,057 $39,228 $36,188 
Reinsurance premium ceded(2,538)(1,805)(4,986)(3,605)
Consolidated net premiums written$17,856 $17,252 $34,242 $32,583 
Schedule of Gross and Net Premiums Earned
The following table presents the Company’s gross and net premiums earned for the property and casualty segment and the life and accident and health segment for the three and six months ended June 30, 2021 and 2020, respectively:
($ in thousands)Three months ended
June 30,		Six months ended
June 30,
 2021202020212020
Life, accident and health operations premiums earned:   
Traditional life insurance$1,119 $1,121 $2,161 $2,187 
Accident and health insurance392 385 783 787 
Gross life, accident and health1,511 1,506 2,944 2,974 
Reinsurance premium ceded(16)(22)(59)(57)
Net life, accident and health premiums earned$1,495 $1,484 $2,885 $2,917 
Property and Casualty operations premiums earned:
Dwelling fire & extended coverage$10,691 $9,836 $20,869 $19,488 
Homeowners (Including mobile homeowners)4,617 5,080 9,979 10,161 
Other liability533 555 1,070 1,109 
Gross property and casualty15,841 15,471 31,918 30,758 
Reinsurance premium ceded(2,522)(1,783)(4,927)(3,548)
Net property and casualty earned$13,319 $13,688 $26,991 $27,210 
Consolidated gross premiums earned$17,352 $16,977 $34,862 $33,732 
Reinsurance premium ceded(2,538)(1,805)(4,986)(3,605)
Consolidated net premiums earned$14,814 $15,172 $29,876 $30,127