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SEGMENTS
 3 Months Ended
Mar. 31, 2022
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, 2022 and December 31, 2021 are summarized below:

($ in thousands)

Assets by industry segment
TotalP&C Insurance OperationsLife Insurance OperationsNon-Insurance Operations
    
March 31, 2022$149,339 $87,515 $57,437 $4,387 
December 31, 2021$151,683 $87,657 $59,278 $4,748 
Net income (loss) by business segment for the three months ended March 31, 2022 and 2021 is summarized below:

($ in thousands)
Three months ended March 31, 2022
P&C Insurance OperationsLife Insurance OperationsNon-Insurance OperationsInter- company EliminationsTotal
REVENUES    
Net premiums earned$14,161 $1,354 $— $— $15,515 
Net investment income346 653 4 (135)868 
Investment gains (losses)(368)109 (13)— (272)
Other income122 198 249 (447)122 
 14,261 2,314 240 (582)16,233 
BENEFITS AND EXPENSES    
Policyholder benefits paid7,742 1,147 — (97)8,792 
Amortization of deferred policy acquisition costs702 288 — — 990 
Commissions2,034 66 — — 2,100 
General and administrative expenses2,005 398 201 (485)2,119 
Taxes, licenses and fees680 90 — — 770 
Interest expense— 9 138 — 147 
 13,163 1,998 339 (582)14,918 
Income (Loss) Before Income Taxes1,098 316 (99)— 1,315 
INCOME TAX EXPENSE (BENEFIT)309 64 (21)— 352 
Net Income (Loss)$789 $252 $(78)$— $963 


($ in thousands)
Three months ended March 31, 2021
P&C Insurance OperationsLife Insurance OperationsNon-Insurance OperationsInter-company
Eliminations		Total
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 $(139)$— $722 
The following table presents the Company’s gross and net premiums written for the property and casualty segment and the life and accident and health segment for the three months ended March 31, 2022 and 2021, respectively:
($ in thousands)Three months ended
March 31,
 20222021
Life, accident and health operations premiums written:  
Traditional life insurance$1,010 $1,018 
Accident and health insurance380 392 
Gross life, accident and health1,390 1,410 
Reinsurance premium ceded(53)(43)
Net life, accident and health premiums written$1,337 $1,367 
Property and Casualty operations premiums written:  
Dwelling fire & extended coverage$12,376 $11,863 
Homeowners (Including mobile homeowners)4,392 5,027 
Other liability481 534 
Gross property and casualty17,249 17,424 
Reinsurance premium ceded(2,551)(2,405)
Net property and casualty written$14,698 $15,019 
Consolidated gross premiums written$18,639 $18,834 
Reinsurance premium ceded(2,604)(2,448)
Consolidated net premiums written$16,035 $16,386 

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, 2022 and 2021, respectively:
($ in thousands)Three months ended
March 31,
 20222021
Life, accident and health operations premiums earned:  
Traditional life insurance$1,030 $1,042 
Accident and health insurance377 391 
Gross life, accident and health1,407 1,433 
Reinsurance premium ceded(53)(43)
Net life, accident and health premiums earned$1,354 $1,390 
Property and Casualty operations premiums earned:
Dwelling fire & extended coverage$11,512 $10,178 
Homeowners (Including mobile homeowners)4,724 5,362 
Other liability476 537 
Gross property and casualty16,712 16,077 
Reinsurance premium ceded(2,551)(2,405)
Net property and casualty earned$14,161 $13,672 
Consolidated gross premiums earned$18,119 $17,510 
Reinsurance premium ceded(2,604)(2,448)
Consolidated net premiums earned$15,515 $15,062