Vericity (VERY) 10-Q 14 Nov 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Nov. 10, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Registrant Name	VERICITY, INC.
Trading Symbol	VERY
Entity Central Index Key	0001575434
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		14,875,000
Entity Current Reporting Status	Yes
Entity File Number	001-38945
Entity Tax Identification Number	46-2348863
Entity Address, Address Line One	1350 E Touhy Avenue
Entity Address, Address Line Two	Suite 205W
Entity Address, City or Town	Des Plaines
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60018
City Area Code	312
Local Phone Number	288-0073
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, Par Value $0.001 per share
Security Exchange Name	NASDAQ
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false

Interim Condensed Consolidated

Interim Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Investments:
Fixed maturities - available-for-sale - at fair value (amortized cost; $334,600 and $331,946, net of allowances for credit losses of $0 and $0)	$ 295,524	$ 298,138
Mortgage loans (net of allowances for credit losses of $285 and $83)	42,005	45,270
Policyholder loans	7,062	6,699
Other invested assets	2,803	3,693
Total investments	347,394	353,800
Cash, cash equivalents and restricted cash	7,625	9,776
Accrued investment income	4,064	3,006
Reinsurance recoverables (net of allowances for credit losses of $126 and $126)	230,585	214,862
Deferred policy acquisition costs	88,171	90,189
Commissions and agent balances (net of allowances for credit losses of $337 and $338)	50,415	34,766
Intangible assets	1,635	1,635
Deferred income tax assets, net	32,003	28,437
Other assets	34,293	33,607
Total assets	796,185	770,078
Liabilities
Future policy benefits and claims	490,506	453,763
Policyholder account balances	72,245	77,443
Other policyholder liabilities	41,012	47,486
Policy dividend obligations	9,544	9,515
Reinsurance liabilities and payables	6,959	6,246
Long-term debt	37,311	30,213
Short-term debt	9,172	6,976
Other liabilities	30,113	27,093
Total liabilities	696,862	658,735
Commitments and Contingencies (Note 6)
Shareholders' Equity
Common stock, $.001 par value, 30,000,000 shares authorized, 14,875,000 shares, issued and outstanding	15	15
Additional paid-in capital	39,840	39,840
Retained earnings	93,596	101,660
Accumulated other comprehensive (loss) income	(34,128)	(30,172)
Total shareholders' equity	99,323	111,343
Total liabilities and shareholders' equity	$ 796,185	$ 770,078

Interim Condensed Consolidate_2

Interim Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Fixed maturities - available-for-sale -amortized cost	$ 334,600	$ 331,946
Fixed maturities - available-for-sale, allowances for credit losses	21	0
Mortgage loans, allowances for credit losses	571	83
Reinsurance recoverable, allowances for credit losses	126	126
Commissions and agent balances, allowances for credit losses	$ 337	$ 338
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized shares	30,000,000	30,000,000
Common stock, shares issued	14,875,000	14,875,000
Common stock, shares outstanding	14,875,000	14,875,000

Interim Condensed Consolidate_3

Interim Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2023		Sep. 30, 2022		Sep. 30, 2023		Sep. 30, 2022
Revenues
Net insurance premiums	$ 23,434		$ 24,468		$ 71,515		$ 73,474
Net investment income	4,010		4,126		12,846		11,390
Net (losses) gains on investments	(883)	[1]	(1,570)	[1]	(1,759)	[2]	89	[2]
Earned commissions	15,354		11,267		45,535		32,792
Insurance lead sales	1,026		1,259		3,052		3,773
Other income	720		144		1,831		419
Total revenues	43,661		39,694		133,020		121,937
Benefits and expenses
Life, annuity, and health claim benefits	22,583		17,505		51,567		47,622
Interest credited to policyholder account balances	627		646		2,000		2,100
Operating costs and expenses	26,755		23,133		78,239		72,859
Amortization of deferred policy acquisition costs	3,283		4,086		9,913		13,237
Total benefits and expenses	53,248		45,370		141,719		135,818
Income (loss) before income tax	(9,587)		(5,676)		(8,699)		(13,881)
Income tax expense (benefit)	(1,612)		(591)		(822)		(785)
Net income (loss)	$ (7,975)		$ (5,085)		$ (7,877)		$ (13,096)
Weighted average shares outstanding, basic	14,875,000		14,875,000		14,875,000		14,875,000
Weighted average shares outstanding,diluted	14,875,000		14,875,000		14,875,000		14,875,000
Basic earnings per share	$ (0.54)		$ (0.34)		$ (0.53)		$ (0.88)
Diluted earnings per share	$ (0.54)		$ (0.34)		$ (0.53)		$ (0.88)
[1] Due to the adoption of the measurement of credit losses on financial instruments accounting standard, items previously reported as OTTI, are now included in net (losses) gains on investments. Due to the adoption of the measurement of credit losses on financial instruments accounting standard, items previously reported as OTTI, are now included in net (losses) gains on investments.

Interim Condensed Consolidate_4

Interim Condensed Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (7,975)	$ (5,085)	$ (7,877)	$ (13,096)
Other comprehensive (loss) income, net of tax:
Change in net unrealized (losses) gains	(8,082)	(10,964)	(3,956)	(40,993)
Total other comprehensive (loss) income	(8,082)	(10,964)	(3,956)	(40,993)
Total comprehensive (loss) income	$ (16,057)	$ (16,049)	$ (11,833)	$ (54,089)

Interim Condensed Consolidate_5

Interim Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Cumulative Effect Adjustment from Changes in Accounting Guidance, Net of Tax	Common Stock	Additional Paid-in Capital	Retained Earnings	Retained Earnings Cumulative Effect Adjustment from Changes in Accounting Guidance, Net of Tax	Retained Earnings Balance After Adjustments	Accumulated Other Comprehensive (Loss) Income
Balance – beginning of period at Dec. 31, 2021			$ 15	$ 39,840	$ 122,120		$ 122,120	$ 10,929
Net income (loss)	$ (13,096)				(13,096)
Other comprehensive income (loss)								(40,993)
Balance – end of period at Sep. 30, 2022	118,815		15	39,840	109,024			(30,064)
Balance – beginning of period at Jun. 30, 2022			15	39,840	114,109		114,109	(19,100)
Net income (loss)	(5,085)				(5,085)
Other comprehensive income (loss)								(10,964)
Balance – end of period at Sep. 30, 2022	118,815		15	39,840	109,024			(30,064)
Balance – beginning of period at Dec. 31, 2022	111,343		15	39,840	101,660	$ (187)	101,473	(30,172)
Net income (loss)	(7,877)				(7,877)
Other comprehensive income (loss)								(3,956)
Balance – end of period at Sep. 30, 2023	99,323	$ 187	15	39,840	93,596			(34,128)
Balance – beginning of period at Jun. 30, 2023			15	39,840	101,571		$ 101,571	(26,046)
Net income (loss)	(7,975)				(7,975)
Other comprehensive income (loss)								(8,082)
Balance – end of period at Sep. 30, 2023	$ 99,323	$ 187	$ 15	$ 39,840	$ 93,596			$ (34,128)

Interim Condensed Consolidate_6

Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities
Net income (loss)		$ (7,877)	$ (13,096)
Adjustments to reconcile net (loss) income to net cash (used) provided by operating activities:
Depreciation and amortization and other non-cash items		3,899	3,187
Interest credited to policyholder account balances		2,000	2,100
Deferred income tax		(2,673)	(3,908)
Net investment losses (gains)	[1]	1,759	(89)
Interest expense		1,775	931
Change in:
Accrued investment income		(1,058)	(957)
Reinsurance recoverables, net		(15,723)	(27,932)
Deferred policy acquisition costs		2,018	3,529
Commissions and agent balances		(15,649)	(4,719)
Other assets		1,638	(2,407)
Insurance liabilities		30,766	30,687
Other liabilities		1,002	5,580
Net cash (used) provided by operating activities		1,877	(7,094)
Sales, maturities and repayments of:
Fixed maturities		39,190	33,176
Mortgage loans		3,796	4,515
Purchases of:
Fixed maturities		(42,018)	(34,685)
Mortgage loans		(964)	(3,965)
Other invested assets		(190)	(724)
Change in policyholder loans, net		(363)	(289)
Other, net		(3,934)	(4,156)
Net cash (used) provided by investing activities		(4,483)	(6,128)
Cash flows from financing activities
Debt issued		35,321	13,600
Debt repaid		(27,803)	(6,127)
Deposits to policyholder account balances		387	294
Withdrawals from policyholder account balances		(7,450)	(4,241)
Net cash (used) provided by financing activities		455	3,526
Net (decrease) increase in cash, cash equivalents and restricted cash		(2,151)	(9,696)
Cash, cash equivalents and restricted cash – beginning of period		9,776	22,399
Cash, cash equivalents and restricted cash – end of period		$ 7,625	$ 12,703
[1] Due to the adoption of the measurement of credit losses on financial instruments accounting standard, items previously reported as OTTI, are now included in net (losses) gains on investments.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Not e 1 – Summary of Significant Accounting Policies Description of Business Vericity, Inc. (the Company) is a Delaware corporation organized to be the stock holding company for Members Holding Company (Members) and its subsidiaries. On August 7, 2019, the Company completed the initial public offering of 14,875,000 shares of its common stock at a price of $ 10.00 per share (the IPO). The IPO was conducted in connection with the conversion of Members Mutual Holding Company from mutual to stock form and the acquisition by the Company of all of the capital stock of Members following its conversion to stock form after its plan of conversion and amended and restated articles of incorporation were approved at a special meeting of eligible members on August 6, 2019 (the Conversion). As a result of the Conversion, the Company became the holding company for converted Members Mutual Holding Company and its indirect subsidiaries, including Fidelity Life Association (Fidelity Life) and Efinancial, LLC (Efinancial). On October 3, 2023, the Company, announced that it entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among the Company, iA American Holdings Inc. (“iA” or “Parent”), Long Grove Acquisition Corp., a wholly owned subsidiary of Parent (“Merger Sub”), and, solely for purposes of Section 6.03 and Article IX thereof, iA Financial Corporation, Inc. (“Guarantor”). On the terms and subject to the conditions of the Merger Agreement, at the closing, Merger Sub will merge with and into the Company (the “Merger”), with the Company continuing as the surviving entity, which will become a wholly-owned subsidiary of Parent. The time that the Merger becomes effective is referred to as the “Effective Time.” The Merger was unanimously approved by the Company’s board of directors. Following execution of the Merger Agreement, Apex Holdco L.P. (the “Consenting Stockholder” or “Apex”) executed and delivered to the Company a written consent (the “Stockholder Written Consent”), adopting the Merger Agreement and the transactions contemplated thereby, including the Merger. As a result of the execution and delivery of the Stockholder Written Consent, the holders of at least a majority of the outstanding shares of Common Stock have adopted the Merger Agreement. No further approval of the stockholders of the Company is required to adopt the Merger Agreement. As a result of the Merger, each share of Common Stock outstanding immediately prior to the Effective Time (subject to certain exceptions, including shares of Common Stock owned by stockholders of the Company who have not voted in favor of the adoption of the Merger Agreement and have properly exercised appraisal rights in accordance with Section 262 of the General Corporation Law of the State of Delaware) will, at the Effective Time, automatically be converted into the right to receive $ 11.43 in cash, without interest and subject to applicable withholding taxes (the “Merger Consideration”). The aggregate equity value of the Common Stock acquired by Parent will be approximately $ 170 million. If the Merger is consummated, the Company’s Common Stock will be delisted from The Nasdaq Capital Market and deregistered under the Securities Exchange Act of 1934, as amended. The completion of the Merger is subject to satisfaction or waiver of certain closing conditions, including: (i) the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (“HSR”), and receipt of certain regulatory approvals; (ii) there being no law or injunction prohibiting consummation of the Merger; (iii) subject to specified materiality standards, the accuracy of the representations and warranties of the other party; and (iv) compliance by the other party in all material respects with its covenants. Parent’s and Merger Sub’s obligations are also conditioned upon the absence of a material adverse effect on the Company and the absence of any burdensome condition (as defined in the Merger Agreement) imposed by any regulators as part of the regulatory approval process. On October 3, 2023, the Company issued a Form 8-K and press release announcing the execution of the Merger Agreement and the Form 8-K is incorporated into this filing by reference. The Merger is expected to close in the first half of 2024. The Company operates as a holding company and currently has no other business operations. Fidelity Life is an Illinois‑domiciled life insurance company that was founded in 1896. Fidelity Life markets life insurance products through independent and affiliated distributors and is licensed in the District of Columbia and all states, except New York and Wyoming. Efinancial markets life and other products for non‑affiliated insurance companies and sells life products for Fidelity Life. The accompanying interim condensed consolidated financial statements present the accounts of the Company and subsidiaries for the three and nine months ended September 30, 2023 and at September 30, 2022 and December 31, 2022. These interim condensed consolidated financial statements and notes should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report in the Form 10-K for the year ended December 31, 2022 . The results of operations for the interim periods should not be considered indicative of results to be expected for the full year. Basis of Presentation These interim condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). The unaudited interim condensed consolidated financial information furnished herein reflects all adjustments which are, in the opinion of management, necessary to fairly state the results for the interim periods presented. All such adjustments are of a normal recurring nature. All intercompany accounts and transactions have been eliminated in consolidation. The consolidated results of operations for the interim periods presented are not necessarily indicative of results for the full year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted from this report, as is permitted by such rules and regulations. Accordingly, these interim condensed consolidated financial statements should be read in conjunction with the financial statements as of and for the year ended December 31, 2022 , and notes thereto, included in the Form 10-K. Use of Estimates The preparation of interim condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The more significant estimates employed in the preparation of the interim condensed consolidated financial statements include the determination of the valuation of investments in fixed maturity, investment impairments, the valuation of deferred tax assets, future policy benefits and other policyholder liabilities. Adopted Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13 , Financial Instruments— Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The new guidance requires that Other-Than-Temporary Impairment (OTTI) on a debt security will be recognized as an allowance going forward, such that improvements in expected future cash flows after an impairment will no longer be reflected as a prospective yield adjustment through net investment income, but rather a reversal of the previous impairment and recognized through net gains (losses) on investments. The guidance also requires enhanced disclosures. In March 2022, the FASB issued ASU 2022-02 – Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructuring and Vintage Disclosure. This ASU was issued to eliminate the troubled debt restructuring recognition and measurement guidance for creditors that have adopted the current expected credit loss guidance while enhancing disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. The Company has assessed the impact of ASU 2016-13 and has established an additional for credit losses on our mortgage portfolio of $ 237 . The tax effected amount of $ 187 is reflected as a beginning of year equity as a Cumulative effect adjustment from changes in accounting guidance, net of tax. The Company has also assessed fixed maturities - available-for-sale, reinsurance recoverables and commissions and agent balances and determined no additional allowance for credit losses is needed. We also adopted the required disclosures within Note 2 Investments, Note 4 Reinsurance, Note 9 Accumulated Other Comprehensive Income and Note 10 Business Segments. Due to the adoption of the measurement of credit losses on financial instruments accounting standard, prior change in valuation allowance is now presented as a change in allowance for credit losses.

Investments

Investments	9 Months Ended
	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Investments	Note 2 – I nvestments The Company continuously monitors its investment strategies and individual holdings with consideration of current and projected market conditions, the composition of the Company’s liabilities, projected liquidity and capital investment needs, and compliance with investment policies and state regulatory guidelines. Fixed Maturities The amortized cost, gross unrealized gains, gross unrealized losses, fair value, and net of allowances for credit losses are included in accumulated other comprehensive income (AOCI) of fixed maturities available-for-sale are as follows: September 30, 2023 Fixed maturities Amortized Unrealized Unrealized Fair U.S. government and agencies $ 10,206 $ 108 $ ( 715 ) $ 9,599 U.S. agency mortgage-backed 7,353 15 ( 835 ) 6,533 State and political subdivisions 76,764 12 ( 13,437 ) 63,339 Corporate and miscellaneous 174,536 664 ( 19,397 ) 155,803 Foreign government 130 — ( 5 ) 125 Residential mortgage-backed 7,249 56 ( 685 ) 6,620 Commercial mortgage-backed 21,801 6 ( 2,152 ) 19,655 Asset-backed 36,561 71 ( 2,782 ) 33,850 Total fixed maturities $ 334,600 $ 932 $ ( 40,008 ) $ 295,524 December 31, 2022 Fixed maturities Amortized Unrealized Unrealized Fair OTTI (1) U.S. government and agencies $ 9,258 $ 349 $ ( 501 ) $ 9,106 $ — U.S. agency mortgage-backed 9,429 63 ( 614 ) 8,878 — State and political subdivisions 68,213 26 ( 12,015 ) 56,224 — Corporate and miscellaneous 171,283 1,473 ( 16,275 ) 156,481 — Foreign government 130 1 — 131 — Residential mortgage-backed 4,912 140 ( 622 ) 4,430 ( 709 ) Commercial mortgage-backed 21,374 2 ( 1,914 ) 19,462 — Asset-backed 47,347 5 ( 3,926 ) 43,426 — Total fixed maturities $ 331,946 $ 2,059 $ ( 35,867 ) $ 298,138 $ ( 709 ) (1) Due to the adoption of the measurement of credit losses on financial instruments accounting standard, OTTI is not presented in respect in the table above. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Maturities of mortgage-backed and asset-backed securities may be substantially shorter than their contractual maturity because they may require monthly principal installments and such loans may prepay principal. The amortized cost and fair value of fixed maturities available-for-sale by contractual maturity, are presented in the following table: September 30, 2023 Amortized Fair Due in one year or less $ 4,150 $ 4,122 Due after one year through five years 39,652 37,578 Due after five years through ten years 73,284 68,163 Due after ten years 144,550 119,003 Securities not due at a single maturity date — primarily mortgage and asset-backed 72,964 66,658 Total fixed maturities $ 334,600 $ 295,524 Fixed maturities with a carrying value of $ 2,486 and $ 2,680 were on deposit with governmental authorities, as required by law at September 30, 2023 and December 31, 2022, respectively. The Company’s fixed maturities portfolio was primarily composed of investment grade securities, defined as a security having a rating of Aaa, Aa, A, or Baa from Moody’s, AAA, AA, A, or BBB from Standard & Poor’s, or National Association of Insurance Commissioners (NAIC) rating of NAIC 1 or NAIC 2. Investment grade securities comprised 96.2 % and 95.1 % of the Company’s total fixed maturities portfolio at September 30, 2023 and December 31, 2022, respectively. At September 30, 2023 and December 31, 2022 , the Company had commitments to make investments in available-for-sale securities in the amount of $ 0 and $ 1,290 , respectively. Mortgage Loans The Company makes investments in commercial mortgage loans. The Company, along with other investors, owns a pro rata share of each loan. The Company participates in 35 such investment instruments with ownership shares ranging from 0.6 % to 30.0 % of the trust at September 30, 2023 . The Company owns a share of 319 mortgage loans with an average loan balance of $ 133 and a maximum exposure related to any single loan of $ 600 . Mortgage loan holdings are diversified by geography and property type as follows: September 30, 2023 December 31, 2022 Gross Carrying % of Total Gross Carrying % of Total Property Type: Retail $ 12,997 30.5 % $ 13,866 30.6 % Office 11,276 26.5 % 11,115 24.5 % Industrial 7,682 18.0 % 8,138 17.9 % Mixed use 4,860 11.4 % 5,249 11.6 % Apartments 2,100 4.9 % 2,796 6.2 % Medical office 2,546 6.0 % 3,053 6.7 % Other 1,115 2.7 % 1,136 2.5 % Gross carrying value of mortgage loans 42,576 100.0 % 45,353 100.0 % Credit loss allowance (1) ( 571 ) ( 83 ) Net carrying value of mortgage loans $ 42,005 $ 45,270 September 30, 2023 December 31, 2022 Gross Carrying % of Total Gross Carrying % of Total U.S. Region: West South Central $ 10,779 25.2 % $ 11,608 25.6 % East North Central 12,457 29.3 % 12,320 27.2 % South Atlantic 8,153 19.1 % 8,815 19.4 % West North Central 2,477 5.8 % 2,871 6.3 % Mountain 2,626 6.2 % 2,824 6.2 % Middle Atlantic 2,072 4.9 % 2,310 5.1 % East South Central 3,558 8.4 % 3,661 8.1 % New England — 0.0 % 34 0.1 % Pacific 454 1.1 % 910 2.0 % Gross carrying value of mortgage loans 42,576 100.0 % 45,353 100.0 % Credit loss allowance (1) ( 571 ) ( 83 ) Net carrying value of mortgage loans $ 42,005 $ 45,270 (1) Due to the adoption of the measurement of credit losses on financial instruments accounting standard, prior valuation allowance is now presented as an allowance for expected credit losses . During the nine months ended September 30, 2023 and September 30, 2022 , $ 964 and $ 3,965 of new mortgage loans were purchased, respectively, which did not include second lien mortgage loans. There were no taxes, assessments, or any amounts advanced that were not included in the mortgage loan balances at September 30, 2023 and December 31, 2022. At September 30, 2023 and December 31, 2022 , the Company had 2 and 3 mortgage loans with a total carrying value of $ 358 and $ 692 that were in a restructured status, respectively. There was 1 impairment for mortgage loans during the three months ended September 30, 2023 and zero impairment of mortgage loans during the three months ended September 30, 2022 and December 31, 2022. The changes in the allowances for credit losses (includes $ 237 related to adoption of ASU 2016-13) for commercial mortgage loans were as follows: Nine Months Ended September 30, 2023 Year Ended December 31, 2022 Beginning balance $ 83 $ 69 Net increase in allowances for credit losses related to change in accounting standards (See Note 1) 237 — Net (decrease) increase in allowances for credit losses 251 14 Ending balance $ 571 $ 83 At September 30, 2023 and December 31, 2022 , the Company had no mortgage loans that were on non-accrual status. At September 30, 2023 and December 31, 2022 , the Company had commitments to make investments in mortgage loans in the amount of $ 3,023 and $ 2,575 , respectively. Net Investment Income The sources of net investment income are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Income from: Fixed maturities $ 3,684 $ 3,763 $ 11,690 $ 10,385 Policyholder loans 88 90 268 272 Mortgage loans 509 594 1,815 1,830 Cash, cash equivalents and restricted cash 47 32 110 34 Gross investment income 4,328 4,479 13,883 12,521 Investment expenses ( 318 ) ( 353 ) ( 1,037 ) ( 1,131 ) Net investment income $ 4,010 $ 4,126 $ 12,846 $ 11,390 Investment expenses include investment management fees, some of which include incentives based on market performance, custodial fees and internal costs for investment-related activities. Net Investment (Losses) Gains The sources of net investment gains (losses) are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Investment (losses) gains from sales: Fixed maturities $ ( 373 ) $ ( 61 ) $ ( 462 ) $ ( 191 ) Mortgage loans 56 ( 134 ) 56 ( 80 ) Gains and losses from sales ( 317 ) ( 195 ) ( 406 ) ( 271 ) Valuation change of other invested assets - (decline) appreciation: ( 271 ) ( 1,087 ) ( 1,080 ) 779 Change in allowance for credit losses (1) ( 295 ) ( 288 ) ( 273 ) ( 419 ) Total net gains (losses) on investments $ ( 883 ) $ ( 1,570 ) $ ( 1,759 ) $ 89 (1) Due to the adoption of the measurement of credit losses on financial instruments accounting standard, prior change in valuation allowance is now presented as a change in allowance for credit losses. Change in Allowance for Credit Losses The Company regularly reviews its fixed income portfolio to identify and evaluate whether a security may require a credit loss allowance. For each fixed income security in an unrealized loss position, the Company assesses whether management with the appropriate authority has made the decision to sell or whether it is more likely than not the Company will be required to sell the security before recovery of the amortized cost basis for reasons such as liquidity, contractual or regulatory purposes. If a security meets either of these criteria, any existing credit loss allowance would be written-off against the amortized cost basis of the asset along with any remaining unrealized losses, with incremental losses recorded in earnings. For all other securities in an unrealized loss position in which the Company does not expect to recover the entire amortized cost basis, the security is deemed to have a credit loss. Significant judgment is required in the determination of whether a credit loss has occurred for a security. The Company has developed a consistent methodology and has identified significant inputs for determining whether a credit loss has occurred. Some of the factors considered in evaluating whether a decline in fair value is a credit loss are the financial condition and prospects of the issuer, payment status, the probability of collecting scheduled principal and interest payments when due, credit ratings of the securities, and the duration and severity of the decline. The credit loss component of fixed maturity impairment is calculated as the difference between amortized cost and the present value of the expected cash flows of the security. The present value is determined using the best estimate of cash flows discounted at the effective rate implicit to the security at the date of purchase or prior impairment. The methodology and assumptions for estimating the cash flows vary depending on the type of security. For mortgage-backed and asset-backed securities, cash flow estimates, including prepayment assumptions, are based on data from widely accepted third-party sources or internal estimates. In addition to prepayment assumptions, cash flow estimates vary based on assumptions regarding the underlying collateral characteristics, expectations of delinquency and default rates, and structural support, including subordination and guarantees. If the present value of the modeled expected cash flows equals or exceeds the amortized cost of a security, no credit loss exists, and the security is considered to be temporarily impaired. If the present value of the expected cash flows is less than amortized cost, the security is determined to be impaired for credit reasons and a credit loss is recognized in earnings. The non-credit component, determined as the difference between the adjusted amortized cost basis and fair value, is recognized a credit loss in other comprehensive (loss) income. The measurement of credit losses for available-for-sale fixed income securities measured at fair value is not affected except that credit losses recognized are limited to the amount by which fair value is below amortized cost and the credit loss adjustment is recognized through an allowance which may change over time but once recorded cannot subsequently be reduced to an amount below zero. Previously these credit loss adjustments were recorded as OTTI and were not reversed once recorded. A roll-forward of the cumulative credit losses on fixed maturities are as follows: September 30, December 31, 2023 2022 Beginning balance of credit losses on fixed maturities $ 1,263 $ 837 Additional credit loss not previously recognized (1) — 394 Additional credit loss that was previously recognized (1) 21 48 Reduction of credit losses related to securities sold during period — ( 16 ) Ending balance of credit losses on fixed maturities $ 1,284 $ 1,263 (1) Due to the adoption of the measurement of credit losses on financial instruments accounting standard, additional credit losses for OTTI is now presented as an additional credit loss. Unrealized Losses for Fixed Maturities The Company’s fair value and gross unrealized losses for fixed maturities available-for-sale, aggregated by investment category and length of time that individual securities have been in a continuous gross unrealized loss position are as follows: 12 months or less Longer than 12 months Total September 30, 2023 Estimated Gross Estimated Gross Estimated Gross Fixed maturities U.S. government and agencies $ 977 $ ( 22 ) $ 2,527 $ ( 693 ) $ 3,504 $ ( 715 ) U.S. agency mortgage-backed 780 ( 23 ) 4,712 ( 812 ) 5,492 ( 835 ) State and political subdivisions 19,634 ( 1,108 ) 42,635 ( 12,329 ) 62,269 ( 13,437 ) Corporate and miscellaneous 46,767 ( 3,546 ) 64,833 ( 15,851 ) 111,600 ( 19,397 ) Foreign Government 125 ( 5 ) — — 125 ( 5 ) Residential mortgage-backed 3,009 ( 69 ) 2,786 ( 616 ) 5,795 ( 685 ) Commercial mortgage-backed 1,711 ( 61 ) 17,499 ( 2,091 ) 19,210 ( 2,152 ) Asset-backed 5,262 ( 417 ) 26,143 ( 2,365 ) 31,405 ( 2,782 ) Total fixed maturities $ 78,265 $ ( 5,251 ) $ 161,135 $ ( 34,757 ) $ 239,400 $ ( 40,008 ) 12 months or less Longer than 12 months Total December 31, 2022 Estimated Gross Estimated Gross Estimated Gross Fixed maturities U.S. agency mortgage-backed $ 2,722 $ ( 501 ) $ — $ — $ 2,722 $ ( 501 ) State and political subdivisions 5,297 ( 578 ) 216 ( 36 ) 5,513 ( 614 ) Corporate and miscellaneous 38,252 ( 7,036 ) 15,057 ( 4,979 ) 53,309 ( 12,015 ) Foreign government 94,461 ( 13,479 ) 8,322 ( 2,796 ) 102,783 ( 16,275 ) Residential mortgage-backed 3,286 ( 554 ) 344 ( 68 ) 3,630 ( 622 ) Commercial mortgage-backed 16,218 ( 1,611 ) 2,655 ( 303 ) 18,873 ( 1,914 ) Asset-backed 20,465 ( 1,726 ) 21,069 ( 2,200 ) 41,534 ( 3,926 ) Total fixed maturities $ 180,701 $ ( 25,485 ) $ 47,663 $ ( 10,382 ) $ 228,364 $ ( 35,867 ) The indicated gross unrealized losses in all fixed maturity categories decreased to $ 40,008 from $ 35,867 at September 30, 2023 and December 31, 2022, respectively. Based on the Company’s current evaluation of its fixed maturities in an unrealized loss position, in accordance with our impairment policy and the Company’s current intentions to hold these securities, the Company concluded that these securities do not have credit losses. Information and concentrations related to fixed maturities in an unrealized loss position are included below. The tables below include fixed maturities and number of securities in an unrealized loss position for greater than and less than 12 months and the percentage that were investment grade at September 30, 2023 . Unrealized Losses 12 months or less Gross Unrealized Losses Impairment is Impairment Impairment Percent Fixed maturities U.S. government and agencies $ ( 22 ) $ ( 22 ) $ — $ — 100 % U.S. agency mortgage-backed ( 23 ) ( 23 ) — — 100 % State and political subdivisions ( 1,108 ) ( 948 ) ( 160 ) — 100 % Corporate and miscellaneous ( 3,546 ) ( 1,607 ) ( 960 ) ( 979 ) 84 % Foreign Government ( 5 ) ( 5 ) — — 100 % Residential mortgage-backed ( 69 ) ( 69 ) — — 75 % Commercial mortgage-backed ( 61 ) ( 51 ) ( 10 ) — 100 % Asset-backed ( 417 ) ( 271 ) ( 85 ) ( 61 ) 100 % Gross unrealized losses $ ( 5,251 ) $ ( 2,996 ) $ ( 1,215 ) $ ( 1,040 ) Total number of fixed maturities 300 257 33 10 Unrealized Losses greater than 12 months Gross Unrealized Losses Impairment is Impairment Impairment Percent Fixed maturities U.S. government and agencies $ ( 693 ) $ ( 95 ) $ — $ ( 598 ) 100 % U.S. agency mortgage-backed ( 812 ) ( 44 ) ( 752 ) ( 16 ) 100 % State and political subdivisions ( 12,329 ) ( 563 ) ( 1,822 ) ( 9,944 ) 100 % Corporate and miscellaneous ( 15,851 ) ( 835 ) ( 3,348 ) ( 11,668 ) 87 % Residential mortgage-backed ( 616 ) ( 56 ) ( 306 ) ( 254 ) 89 % Commercial mortgage-backed ( 2,091 ) ( 487 ) ( 1,376 ) ( 228 ) 100 % Asset-backed ( 2,365 ) ( 789 ) ( 1,172 ) ( 404 ) 97 % Gross unrealized losses $ ( 34,757 ) $ ( 2,869 ) $ ( 8,776 ) $ ( 23,112 ) Total number of fixed maturities 587 145 201 241 Investment Grade Below Investment Grade Total Fixed income securities with unrealized loss position less than or equal to 20% of amortized cost, net (1) (2) $ 15,251 $ 604 $ 15,855 Fixed income securities with unrealized loss position greater than 20% of amortized cost, net (3) (4) 23,704 449 24,153 Total unrealized losses $ 38,955 $ 1,053 $ 40,008 (1) Below investment grade fixed income securities include $ 150 that have been in an unrealized loss position for less than twelve months. (2) Related to securities with an unrealized loss position less than 20% of amortized cost, net, the degree of which suggests that these securities do not pose a high risk of having credit losses. (3) Below investment grade fixed income securities include $ 902 that have been in an unrealized loss position for a period of twelve or more consecutive months. (4) Evaluated based on factors such as discounted cash flows and the financial condition and near-term and long-term prospects of the issue or issuer and were determined to have adequate resources to fulfill contractual obligations.

Policy Liabilities

Policy Liabilities	9 Months Ended
	Sep. 30, 2023
Insurance [Abstract]
Policy Liabilities	Note 3 – Poli cy Liabilities Future Policy Benefits Future policy benefits represent the reserve for direct and assumed traditional life insurance policies and annuities in payout status. The annuities in payout status are certain structured settlement contracts. The policy liability for structured settlement contracts of $ 12,198 and $ 13,118 at September 30, 2023 and December 31, 2022, respectively, is computed as the present value of contractually specified future benefits. The amounts included in the policy liability for structured settlements that are life contingent at September 30, 2023 and December 31, 2022 , is $ 9,499 and $ 10,097 , respectively. To the extent that unrealized gains on fixed maturities would result in a premium deficiency had those gains actually been realized, a premium deficiency reserve is recorded. A liability of $ 0 and $ 470 is included as part of the liability for structured settlements with respect to this deficiency at September 30, 2023 and December 31, 2022, respectively. The offset to this liability is recorded as a reduction of the unrealized capital gains included in AOCI. Participating life insurance in-force was 2.5 % and 3.9 % of the face value of total life insurance at September 30, 2023 and December 31, 2022 , respectively.

Reinsurance

Reinsurance	9 Months Ended
	Sep. 30, 2023
Insurance [Abstract]
Reinsurance	Note 4 – Re insurance The Company uses reinsurance to mitigate exposure to potential losses, provide additional capacity for growth, and provide greater diversity of business. For ceded reinsurance, the Company remains liable to the extent that reinsuring companies may not be able to meet their obligations under the reinsurance agreements. To manage the risk from failure of a reinsurer to meet its obligations, the Company periodically evaluates the financial condition of all of its reinsurers. In the first quarter 2022, Fidelity Life entered into a reinsurance contract with Swiss Re Life & Health America Inc. (Swiss Re). This new treaty is in addition to existing coinsurance agreements, largely with Swiss Re on certain policies issued through and including December 31, 2020. The impact of this transaction to our segment results included an initial ceded premium in 2022 of $ 6.5 million based on the statutory reserves at January 1, 2022. The impact to pre-tax income in 2022 was nominal, however various income statement lines were impacted. On July 18, 2023, the Liquidation Order of Scottish Re was approved by the Delaware Court specifying the effective date of the liquidation as September 30, 2023. The Liquidation Order specifies that all reinsurance agreements of Scottish Re are cancelled effective September 30, 2023. Accordingly, ceded future policy benefits of $ 657 were taken down as of the effective date of the order. Reinsurance recoverables are as follows: September 30, December 31, 2023 2022 Ceded future policy benefits $ 192,968 $ 173,904 Claims and other amounts recoverables 37,617 40,958 Ending balance $ 230,585 $ 214,862 The reconciliation of direct insurance premiums to net insurance premiums is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Direct premiums $ 46,413 $ 44,740 $ 135,613 $ 131,792 Assumed premiums 8,960 10,838 27,493 35,512 Ceded premiums ( 31,939 ) ( 31,110 ) ( 91,591 ) ( 93,830 ) Net insurance premiums $ 23,434 $ 24,468 $ 71,515 $ 73,474 The reconciliation of direct life, annuity, and health claim benefits to life, annuity, and health claim benefits as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Direct $ 34,658 $ 36,963 $ 93,623 $ 105,673 Assumed 10,209 5,656 16,136 15,911 Ceded ( 22,284 ) ( 25,114 ) ( 58,192 ) ( 73,962 ) Life, annuity, and health claim benefits $ 22,583 $ 17,505 $ 51,567 $ 47,622 Net policy charges on universal life products were $ 41 and $ 44 for the three months ended September 30, 2023 and 2022 , respectively and $ 135 and $ 136 for the nine months ended September 30, 2023 and 2022, respectively, and are included in other income. At September 30, 2023 and December 31, 2022 , reserves related to fixed‑rate annuity deposits assumed from a former affiliate company amounted to approximately $ 64,095 and $ 69,070 , respectively, and are included with policyholder account balances in the Interim Condensed Consolidated Balance Sheets.

Closed Block

Closed Block	9 Months Ended
	Sep. 30, 2023
Closed Block Disclosure [Abstract]
Closed Block	Note 5 – C losed Block The Closed Block was formed at October 1, 2006 and contains all participating policies issued or assumed by Fidelity Life. The assets and future net cash flows of the Closed Block are available only for purposes of paying benefits, expenses and dividends of the Closed Block and are not available to the Company, except for an amount of additional funding that was established at the inception of the Closed Block. The additional funding was designed to protect the block against future experience, and if the funding is not required for that purpose, is subject to reversion to the Company in the future. Any reversion of Closed Block assets to the Company must be approved by the Illinois Department of Insurance (IDOI). In October 2011, the IDOI approved a reversion of a portion of the initial funding that the Company had determined was not required to fund the Closed Block. The carrying value of the assets transferred from the Closed Block on October 31, 2011, the date of transfer, was $ 4,397 . The assets and liabilities within the Closed Block are included in the Company’s condensed consolidated financial statements on the same basis as other accounts of the Company. The maximum future earnings and accumulated other comprehensive income to be recognized from Closed Block assets and liabilities represent the estimated future Closed Block profits that will accrue to the Company and is calculated as the excess of Closed Block assets over Closed Block liabilities. Included in Closed Block assets at September 30, 2023 and December 31, 2022 is $ 11,058 and $ 10,792 of additional Closed Block funding, plus accrued interest, that is eligible for reversion to the Company if not needed to fund Closed Block experience, respectively. The Closed Block was funded based on a model developed to forecast the future cash flows of the Closed Block, which is referred to as the actuarial calculation. The actuarial calculation projected the anticipated future cash flows of the Closed Block as established at the initial funding. We compare the actual results of the Closed Block to expected results from the actuarial calculation as part of the annual assessment of the current level of policyholder dividends. The assessment of policyholder dividends includes projections of future experience of the Closed Block. The review of Closed Block experience also includes consideration of whether a policy dividend obligation should be recorded to reflect favorable Closed Block experience that has not yet been reflected in the dividend scales. At September 30, 2023 and December 31, 2022, the Company recognized a policyholder dividend obligation of $ 9,544 and $ 9,515 , respectively, resulting from the excess of actual cumulative earnings over the expected cumulative earnings and from accumulated net unrealized investment gains (losses) that have arisen subsequent to the establishment of the Closed Block. Information regarding the Closed Block liabilities (assets) designated to the Closed Block is as follows: September 30, December 31, Closed Block Liabilities 2023 2022 Future policy benefits and claims $ 29,216 $ 29,382 Policyholder account balances 6,567 6,731 Other policyholder liabilities 3,436 5,298 Policyholder dividend obligations 9,544 9,515 Other liabilities 38 586 Total Closed Block liabilities 48,801 51,512 Assets Designated to the Closed Block Investments: Fixed maturities - available-for-sale (amortized cost $ 41,673 and 40,522 , respectively) 36,464 36,625 Policyholder loans 1,238 1,132 Total investments 37,702 37,757 Cash and Cash Equivalents 365 — Premiums due and uncollected 382 1,852 Accrued investment income 490 457 Reinsurance recoverables 10,834 13,885 Deferred income tax assets, net 4,712 4,263 Total assets designated to the Closed Block 54,485 58,214 Excess of Closed Block assets over liabilities 5,684 6,702 Amounts included in accumulated other comprehensive income: Unrealized investment loss (gains), net of income tax ( 4,116 ) ( 3,079 ) Total amounts included in accumulated other comprehensive income ( 4,116 ) ( 3,079 ) Maximum future earnings and accumulated other comprehensive income to 11,058 and $ 10,792 , respectively) $ ( 9,800 ) $ ( 9,781 ) September 30, December 31, Policyholder Dividend Obligations 2023 2022 Beginning balance $ 9,515 $ 12,669 Impact from earnings allocable to policyholder dividend obligations 29 ( 165 ) Change in net unrealized investment gains (losses) allocated to policyholder — ( 2,989 ) Ending balance $ 9,544 $ 9,515 Information regarding the Closed Block revenues and expenses is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Revenues Net insurance premiums $ 769 $ 329 $ 3,351 $ 2,357 Net investment income 456 375 1,361 1,157 Net Realized Investment Gains (Losses) 5 — 8 — Total revenues 1,230 704 4,720 3,514 Benefits and expenses Life and annuity benefits - including policyholder dividends 452 , $ 498 , $ 1,474 and $ 1,102 , respectively 1,353 1,072 4,258 3,588 Interest credited to policyholder account balances 42 44 124 128 Operating costs and expenses ( 38 ) ( 356 ) 314 ( 482 ) Total expenses 1,357 760 4,696 3,234 Revenues, net of expenses before provision for income tax ( 127 ) ( 56 ) 24 280 Income tax expense (benefit) ( 27 ) ( 12 ) 5 59 Revenues, net of expenses and provision for income tax $ ( 100 ) $ ( 44 ) $ 19 $ 221 The Company charges the Closed Block with federal income taxes and state and local premium taxes, policy maintenance costs and investment management expenses relating to the Closed Block as provided in the Closed Block Memorandum. The following table presents the amortized cost and fair value of the Closed Block fixed maturities portfolio by contractual maturity at September 30, 2023. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties: Amortized Cost Fair Value Due in one year or less $ 1,100 $ 1,093 Due after one year through five years 6,615 6,482 Due after five years through ten years 6,836 6,374 Due after ten years 23,683 19,193 Securities not due at a single maturity date — primarily mortgage and asset- 3,439 3,322 Total fixed maturities $ 41,673 $ 36,464

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 6 – Commitmen ts and Contingencies Litigation The Company is subject to legal and regulatory actions in the course of our business. Management does not believe such litigation will have a material impact on the Company’s interim condensed consolidated financial statements. The Company establishes accruals for litigation and regulatory matters when it is probable that a loss has been incurred and the amount of that loss can be reasonably estimated. For litigation and regulatory matters where a loss may be reasonably possible but not probable or, is probable but not reasonably able to be estimated, no accrual is established, but the matter, if material, is disclosed. The Company is not aware of any material legal or regulatory matters threatened or pending against the Company.

Assets and Liabilities Measured

Assets and Liabilities Measured at Fair Value	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value	Note 7 – Assets and Liabili ties Measured at Fair Value Fair value is the estimated price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company attempts to establish fair value as an exit price consistent with transactions taking place under normal market conventions. The Company utilizes market observable information to the extent possible and seeks to obtain quoted market prices for all securities. If quoted market prices in active markets are not available, the Company uses a number of methodologies to establish fair value estimates including discounted cash flow models, prices from recently executed transactions of similar securities, or broker/dealer quotes. Fair values for the Company’s fixed maturity and equity securities are determined by management, utilizing prices obtained from third-party pricing services. Management reviews on an ongoing basis the reasonableness of the methodologies used by the pricing services to ensure prices received represent a reasonable estimate of fair value and to confirm representations regarding whether inputs are observable or unobservable. The main procedure the Company employs in fulfillment of this objective includes back-testing transactions, where past fair value estimates are compared to actual transactions executed in the market on similar dates. The Company’s assets and liabilities have been classified into a three-level hierarchy based on the priority of the inputs to the respective valuation technique. The hierarchy gives the highest ranking to fair values determined using unadjusted quoted prices in active markets for identical assets and liabilities (Level 1) and the lowest ranking to fair values determined using methodologies and models with unobservable inputs (Level 3). An asset’s or a liability’s classification is based on the lowest level input that is significant to its measurement. For example, a Level 3 fair value measurement may include inputs that are both observable (Level 1 and Level 2) and unobservable (Level 3). The levels of the fair value hierarchy are as follows: Level 1 – Unadjusted quoted prices for identical assets in active markets the Company can access. Level 1 assets include securities that are traded in an active exchange market. Level 2 – This level includes fixed maturities priced principally by independent pricing services using observable inputs other than Level 1 prices, such as quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments on inactive markets; and model-derived valuations for which all significant inputs are observable market data. Level 2 instruments include most corporate debt securities and U.S. government and agency mortgage-backed securities that are valued by models using inputs that are derived principally from or corroborated by observable market data. Level 3 – Valuations derived from valuation techniques in which one or more significant inputs are unobservable. Level 3 instruments include less liquid assets for which significant inputs are unobservable in the market, such as structured securities with complex features that require significant management assumptions or estimation in the fair value measurement. This hierarchy requires the use of observable market data when available. Certain assets and liabilities are not carried at fair value on a recurring basis, including investments such as mortgage loans, intangible assets, future policy benefits excluding term life reserves and policyholder account balances. Accordingly, such items are only included in the fair value hierarchy disclosure when the items are subject to re-measurement at fair value after initial recognition (for example, when there is evidence of impairment) and the resulting re-measurement is reflected in the consolidated financial statements at the reporting date. Recurring and Non-Recurring Fair Value Measurements The Company’s assets that are carried at fair value on a recurring and non-recurring basis, by fair value hierarchy level, are as follows: September 30, 2023 Level 1 Level 2 Level 3 Total Fair Value Recurring fair value measurements Financial instruments recorded as assets: Fixed maturities U.S. government and agencies $ — $ 9,599 $ — $ 9,599 U.S. agency mortgage-backed — 6,533 — 6,533 State and political subdivisions — 62,895 444 63,339 Corporate and miscellaneous 2,231 127,012 26,560 155,803 Foreign government — 125 — 125 Residential mortgage-backed — 6,620 — 6,620 Commercial mortgage-backed — 19,655 — 19,655 Asset-backed — 30,512 3,338 33,850 Total fixed maturities 2,231 262,951 30,342 295,524 Total recurring assets $ 2,231 $ 262,951 $ 30,342 $ 295,524 December 31, 2022 Level 1 Level 2 Level 3 Total Fair Value Recurring fair value measurements Financial instruments recorded as assets: Fixed maturities U.S. government and agencies $ — $ 9,106 $ — $ 9,106 U.S. agency mortgage-backed — 8,878 — 8,878 State and political subdivisions — 55,782 442 56,224 Corporate and miscellaneous 2,847 126,644 26,990 156,481 Foreign government — 131 — 131 Residential mortgage-backed — 4,430 — 4,430 Commercial mortgage-backed — 19,462 — 19,462 Asset-backed — 40,293 3,133 43,426 Total fixed maturities 2,847 264,726 30,565 298,138 Total recurring assets $ 2,847 $ 264,726 $ 30,565 $ 298,138 Summary of Significant Valuation Techniques for Assets on a Recurring Basis Level 1 securities include principally exchange‑traded funds that are valued based on quoted market prices for identical assets. Level 2 securities are based on prices obtained from independent pricing services. All of the Company’s prices for each security are generally sourced from multiple pricing vendors, and a vendor hierarchy is maintained by asset type and region of the world, based on historical pricing experience and vendor expertise. The Company ultimately uses the price from the pricing service highest in the vendor hierarchy based on the respective asset type and region. For fixed maturities that do not trade on a daily basis, the pricing services prepare estimates of fair value measurements using their pricing applications which incorporate a variety of inputs including, but not limited to, benchmark yields, reported trades, broker/dealer quotes, issuer spreads, and U.S. Treasury curves. Specifically, for asset-backed securities, key inputs include prepayment and default projections based on past performance of the underlying collateral and current market data. Securities with validated quotes from pricing services are reflected within Level 2 of the fair value hierarchy, as they generally are based on observable pricing for similar assets or other market significant observable inputs. Level 3 fair value classification consists of investments in securities where the fair value of the security is determined by a pricing service using internal pricing models where one or more of the significant inputs is unobservable in the marketplace, or there is a single broker/dealer quote. The fair value of a broker-quoted asset is based solely on the receipt of an updated quote from a single market maker or a broker-dealer recognized as a market participant. The fair value of Level 3 liabilities is estimated on the discounted cash flows of contractual payments. If the Company believes the pricing information received from third-party pricing services is not reflective of market activity or other inputs observable in the market, the Company may challenge the price through a formal process with the pricing service. Historically, the Company has not challenged or updated the prices provided by third-party pricing services. However, any such updates by a pricing service to be more consistent with the presented market observations, or any adjustments made by the Company to prices provided by third-party pricing services would be reflected in the balance sheet for the current period. When the inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement in its entirety. Thus, a Level 3 fair value measurement may include inputs that are observable (Level 1 or Level 2) and unobservable (Level 3). Net transfers into and/or out of Level 3 are reported as having occurred at the beginning of the period and are based on observable inputs received from pricing sources; therefore, all net realized and unrealized gains and losses on these securities for the period are reflected in the table that follows. A summary of changes in fair value of Level 3 assets held at fair value on a recurring basis is as follows: Total gains (losses) included in: Balance at January 1, 2023 Net Income OCI Purchases Sales Settlements Net Balance at September 30, 2023 Financial Assets Fixed maturities State and political subdivision $ 442 $ — $ 2 $ — $ — $ — $ — $ 444 Corporate and miscellaneous 26,991 2 ( 31 ) 2,449 ( 2,989 ) — 138 26,560 Asset-backed 3,133 90 80 145 ( 610 ) — 500 3,338 Total assets $ 30,566 $ 92 $ 51 $ 2,594 $ ( 3,599 ) $ — $ 638 $ 30,342 Total gains (losses) included in: Balance at January 1, 2022 Net Income OCI Purchases Sales Settlements Net Balance at December 31, 2022 Financial Assets Fixed maturities State and political subdivisions $ 498 $ — $ ( 56 ) $ — $ — $ — $ — $ 442 Corporate and miscellaneous 24,740 2 ( 398 ) 3,198 ( 2,582 ) 1,468 563 26,991 Asset-backed 2,838 ( 122 ) ( 325 ) 1,907 ( 1,260 ) — 95 3,133 Total assets $ 28,076 $ ( 120 ) $ ( 779 ) $ 5,105 $ ( 3,842 ) $ 1,468 $ 658 $ 30,566 There were 4 transfers from Level 3 to Level 2 and 5 transfers from level 2 to level 3 in 2023. There were 2 transfers from Level 3 to Level 2 and 6 transfers from level 2 to level 3 in 2022. Financial Instruments not Measured at Fair Value The following tables provide fair value information for financial instruments that are carried on the balance sheet at amounts other than fair value. These tables exclude cash and cash equivalents and accrued investment income, that are not securities and therefore are not included in the three-level hierarchy table disclosed in the “Recurring and Non-Recurring Fair Value Measurements” section. The carrying amount and estimated fair values of the Company’s financial instruments that are not measured at fair value on the Interim Condensed Consolidated Balance Sheets are as follows: Estimated Fair Value September 30, 2023 Carrying Value Level 1 Level 2 Level 3 Total Financial instruments recorded as assets: Mortgage loans $ 42,005 $ — $ — $ 38,074 $ 38,074 Policyholder loans $ 7,062 $ — $ — $ 8,136 $ 8,136 Financial instruments recorded as liabilities: Future policy benefits, excluding term life reserves $ 15,776 $ — $ — $ 14,511 $ 14,511 Long/short-term debt $ 46,483 $ — $ — $ 47,762 $ 47,762 Policyholder account balances $ 72,245 $ — $ — $ 65,459 $ 65,459 Estimated Fair Value December 31, 2022 Carrying Value Level 1 Level 2 Level 3 Total Financial instruments recorded as assets: Mortgage loans $ 45,270 $ — $ — $ 41,622 $ 41,622 Policyholder loans $ 6,699 $ — $ — $ 7,722 $ 7,722 Financial instruments recorded Future policy benefits, excluding term $ 16,555 $ — $ — $ 15,192 $ 15,192 Long/short-term debt $ 37,189 $ — $ — $ 36,763 $ 36,763 Policyholder account balances $ 77,443 $ — $ — $ 70,157 $ 70,157 The following methods and assumptions were used to estimate the fair value of these financial assets and liabilities. Mortgage Loans — Fair value was based on the discounted value of future cash flows for all first mortgage loans adjusted for specific loan risk. The discount rate was based on the rate that would be offered for similar loans at the reporting date. Fair value excludes $ 974 and $ 1,952 of second and mezzanine mortgages carried at cost for which fair value is not measurable at September 30, 2023 and December 31, 2022, respectively. Policyholder Loans — Fair value of policyholder loans was estimated using discounted cash flows using risk-free interest rates with no adjustment for borrower credit risk as these loans are fully collateralized by the cash value of the underlying insurance policy. Future Policy Benefits and Policyholder Account Balances — Liabilities with interest rate guarantees greater than one year or with defined maturities, the fair value was estimated by calculating an average present value of expected cash flows over a broad range of interest rate scenarios using the current market risk‑free interest rates adjusted for spreads required for publicly traded bonds issued by comparably rated insurers. Certain non - interest sensitive reserves are at carrying value, which approximates fair value. Long and Short-Term Debt — Fair value was calculated using the discounted value of future cash flows method. The discount rate was based on the rate that is commensurable to the level of risk. The carrying amounts reported on the Interim Condensed Consolidated Balance Sheets have been divided in to short and long-term based upon expected maturity dates.

Long and Short-Term Debt

Long and Short-Term Debt	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Long and Short-Term Debt	Note 8 – Long an d Short-Term Debt In 2022 and subsequent amendments in 2023 , Efinancial entered into a new commission financing arrangement and is taking new advances on this financing arrangement. Efinancial’s ability to receive advances under this arrangement will terminate when the aggregate amount advanced under the arrangement equals or exceeds $ 46.0 million. At September 30, 2023 and December 31, 2022 , the Company had a net advance of $ 38,618 and $ 31,100 , respectively, under this arrangement. At September 30, 2023, the Company expects to pay back the aggregate amounts as presented in the following table. September 30, 2023 Due in one year or less $ 9,172 Due after one year through two years 6,328 Due after two years through three years 5,891 Due after three years through four years 5,493 Due after four years through five years 5,014 Due after five years 38,411 Less discount ( 23,826 ) Total long/short-term debt $ 46,483 Federal Home Loan Bank of Chicago The Company is a member of the Federal Home Loan Bank of Chicago (FHLBC). As a member, the Company is able to borrow on a collateralized basis from the FHLBC which can be used as an alternative source of liquidity. The FHLBC membership requires the Company to own member stock. At September 30, 2023 and December 31, 2022 , the Company held $ 270 and $ 180 of FHLBC common stock, which is included in Other invested assets, respectively. The Company's ability to borrow under this facility is subject to the FHLBC's discretion and requires the availability of qualifying assets. As of September 30, 2023 and December 31, 2022 , the Company had no t pledged any assets and there were no outstanding borrowings.

Accumulated Other Comprehensive

Accumulated Other Comprehensive (Loss) Income	9 Months Ended
	Sep. 30, 2023
Equity, Attributable to Parent [Abstract]
Accumulated Other Comprehensive (Loss) Income	Note 9 – Accumulated Other Comprehensive (Loss) Income Changes in accumulated other comprehensive (loss) income, net of taxes are as follows: 2023 2022 Net Unrealized Net Unrealized Total Net Unrealized Net Unrealized Total Balance at beginning of year $ 362 $ ( 30,534 ) $ ( 30,172 ) $ 362 $ 10,567 $ 10,929 Third Quarter Other comprehensive income (loss) Unrealized holding (losses) gains from changes in the market value of securities — ( 10,166 ) ( 10,166 ) — ( 15,424 ) ( 15,424 ) Impact on policy benefit liabilities of changes in market value of securities — 340 340 — 1,545 1,545 Change in net unrealized investment (losses) gains allocated to policyholder dividend obligations — — — — — — Deferred income tax (expense) benefit — 1,744 1,744 — 2,915 2,915 Third Quarter, net — ( 8,082 ) ( 8,082 ) — ( 10,964 ) ( 10,964 ) Year to Date Other comprehensive (loss) income Unrealized holding (losses) gains from changes in the market value of securities — ( 5,268 ) ( 5,268 ) — ( 60,944 ) ( 60,944 ) Impact on policy benefit liabilities of changes in market value of securities — 469 469 — 6,065 6,065 Change in net unrealized investment (losses) gains allocated to policyholder dividend obligations — — — — 2,989 2,989 Deferred income tax benefit (expense) — 843 843 — 10,897 10,897 Year to Date, net — ( 3,956 ) ( 3,956 ) — ( 40,993 ) ( 40,993 ) Balance at end of period $ 362 $ ( 34,490 ) $ ( 34,128 ) $ 362 $ ( 30,426 ) $ ( 30,064 )

Business Segments

Business Segments	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Business Segments	Note 10 – Bus iness Segments Our Chief Operating Decision Maker makes decisions by analyzing our segment information. For internal decision-making purposes and external reporting purposes, we do not disaggregate revenue beyond our segment information and believe that any further disaggregation is immaterial. The Company’s current operations were organized into three reportable segments: Insurance, Agency, and Corporate & Other. The Insurance Segment is composed of three broad lines consisting of Traditional Life, Closed Block, and Assumed Life and Annuities. Traditional Life and the Closed Block are distinct operations; the Assumed life and annuities business and the small amount of structured settlements are all blocks in runoff from a prior management arrangement. The Agency Segment includes the insurance distribution operations of the Company and includes commission revenue from the sale of Fidelity Life products. The Corporate & Other Segment includes expenses that will benefit the overall organization, which are not allocated to a segment. This segment recognizes net investment income on cash and invested assets held mainly as a result of the IPO and interest expense related to our recently announced merger transaction and commission financing agreement. All intercompany accounts and transactions have been eliminated in consolidation, including any profit or loss from the sale of Insurance Segment products through the Agency Segment. The segment results are as follows: Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 Insurance Agency Corporate & Other Total Insurance Agency Corporate & Other Total Net insurance premiums $ 23,434 $ — $ — $ 23,434 $ 24,468 $ — $ — $ 24,468 Net investment income 3,931 — 79 4,010 3,927 — 199 4,126 Net (losses) gains on investments (1) ( 883 ) — — ( 883 ) ( 1,100 ) — ( 470 ) ( 1,570 ) Earned commissions — 15,354 — 15,354 — 11,379 ( 112 ) 11,267 Other income 274 1,472 — 1,746 144 1,259 — 1,403 Total revenues 26,756 16,826 79 43,661 27,439 12,638 ( 383 ) 39,694 Life, annuity, and health claim benefits 23,210 — — 23,210 18,151 — — 18,151 Operating costs and expenses 7,914 16,564 2,277 26,755 7,957 14,110 1,066 23,133 Amortization of deferred policy acquisition 3,283 — — 3,283 4,086 — — 4,086 Total benefits and expenses 34,407 16,564 2,277 53,248 30,194 14,110 1,066 45,370 Income (loss) before income taxes $ ( 7,651 ) $ 262 $ ( 2,198 ) $ ( 9,587 ) $ ( 2,755 ) $ ( 1,472 ) $ ( 1,449 ) $ ( 5,676 ) (1) Due to the adoption of the measurement of credit losses on financial instruments accounting standard, items previously reported as OTTI, are now included in net (losses) gains on investments. Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 Insurance Agency Corporate & Other Total Insurance Agency Corporate & Other Total Net insurance premiums $ 71,515 $ — $ — $ 71,515 $ 73,474 $ — $ — $ 73,474 Net investment income 12,618 — 228 12,846 10,982 — 408 11,390 Net realized investment gains (losses) (1) ( 1,395 ) — ( 364 ) ( 1,759 ) ( 267 ) — 356 89 Earned commissions — 45,880 ( 345 ) 45,535 — 33,105 ( 313 ) 32,792 Other income 804 4,079 — 4,883 419 3,773 — 4,192 Total revenues 83,542 49,959 ( 481 ) 133,020 84,608 36,878 451 121,937 Life, annuity, and health claim benefits 53,567 — — 53,567 49,722 — — 49,722 Operating costs and expenses 23,843 48,636 5,760 78,239 25,143 42,573 5,143 72,859 Amortization of deferred policy 9,913 — — 9,913 13,237 — — 13,237 Total benefits and expenses 87,323 48,636 5,760 141,719 88,102 42,573 5,143 135,818 (Loss) income before income tax $ ( 3,781 ) $ 1,323 $ ( 6,241 ) $ ( 8,699 ) $ ( 3,494 ) $ ( 5,695 ) $ ( 4,692 ) $ ( 13,881 ) (1) Due to the adoption of the measurement of credit losses on financial instruments accounting standard, items previously reported as OTTI, are now included in net (losses) gains on investments. September 30, 2023 December 31, 2022 Insurance Agency Corporate & Other Total Insurance Agency Corporate & Other Total Investments and cash $ 351,240 $ 800 $ 2,979 $ 355,019 $ 358,620 $ 1,094 $ 3,862 $ 363,576 Commissions and agent balances 8,550 41,865 — 50,415 4,751 30,015 — 34,766 Deferred policy acquisition costs 88,171 — — 88,171 90,189 — — 90,189 Intangible assets — 1,635 — 1,635 — 1,635 — 1,635 Reinsurance recoverables net 230,585 — — 230,585 214,862 — — 214,862 Deferred income tax assets, net 18,361 — 13,642 32,003 13,489 — 14,948 28,437 Other 28,635 9,068 654 38,357 26,800 5,869 3,944 36,613 Total assets $ 725,542 $ 53,368 $ 17,275 $ 796,185 $ 708,711 $ 38,613 $ 22,754 $ 770,078 All the Company’s significant revenues and long-lived assets are located in the United States, which is the Company’s country of domicile.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Note 11 – Subsequent Events On October 3, 2023, Vericity, Inc. announced that it entered into an Agreement and Plan of Merger with iA American Holdings Inc. Please refer to Note 1 - Summary of Significant Accounting Policies for additional details.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Description of Business	Description of Business Vericity, Inc. (the Company) is a Delaware corporation organized to be the stock holding company for Members Holding Company (Members) and its subsidiaries. On August 7, 2019, the Company completed the initial public offering of 14,875,000 shares of its common stock at a price of $ 10.00 per share (the IPO). The IPO was conducted in connection with the conversion of Members Mutual Holding Company from mutual to stock form and the acquisition by the Company of all of the capital stock of Members following its conversion to stock form after its plan of conversion and amended and restated articles of incorporation were approved at a special meeting of eligible members on August 6, 2019 (the Conversion). As a result of the Conversion, the Company became the holding company for converted Members Mutual Holding Company and its indirect subsidiaries, including Fidelity Life Association (Fidelity Life) and Efinancial, LLC (Efinancial). On October 3, 2023, the Company, announced that it entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among the Company, iA American Holdings Inc. (“iA” or “Parent”), Long Grove Acquisition Corp., a wholly owned subsidiary of Parent (“Merger Sub”), and, solely for purposes of Section 6.03 and Article IX thereof, iA Financial Corporation, Inc. (“Guarantor”). On the terms and subject to the conditions of the Merger Agreement, at the closing, Merger Sub will merge with and into the Company (the “Merger”), with the Company continuing as the surviving entity, which will become a wholly-owned subsidiary of Parent. The time that the Merger becomes effective is referred to as the “Effective Time.” The Merger was unanimously approved by the Company’s board of directors. Following execution of the Merger Agreement, Apex Holdco L.P. (the “Consenting Stockholder” or “Apex”) executed and delivered to the Company a written consent (the “Stockholder Written Consent”), adopting the Merger Agreement and the transactions contemplated thereby, including the Merger. As a result of the execution and delivery of the Stockholder Written Consent, the holders of at least a majority of the outstanding shares of Common Stock have adopted the Merger Agreement. No further approval of the stockholders of the Company is required to adopt the Merger Agreement. As a result of the Merger, each share of Common Stock outstanding immediately prior to the Effective Time (subject to certain exceptions, including shares of Common Stock owned by stockholders of the Company who have not voted in favor of the adoption of the Merger Agreement and have properly exercised appraisal rights in accordance with Section 262 of the General Corporation Law of the State of Delaware) will, at the Effective Time, automatically be converted into the right to receive $ 11.43 in cash, without interest and subject to applicable withholding taxes (the “Merger Consideration”). The aggregate equity value of the Common Stock acquired by Parent will be approximately $ 170 million. If the Merger is consummated, the Company’s Common Stock will be delisted from The Nasdaq Capital Market and deregistered under the Securities Exchange Act of 1934, as amended. The completion of the Merger is subject to satisfaction or waiver of certain closing conditions, including: (i) the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (“HSR”), and receipt of certain regulatory approvals; (ii) there being no law or injunction prohibiting consummation of the Merger; (iii) subject to specified materiality standards, the accuracy of the representations and warranties of the other party; and (iv) compliance by the other party in all material respects with its covenants. Parent’s and Merger Sub’s obligations are also conditioned upon the absence of a material adverse effect on the Company and the absence of any burdensome condition (as defined in the Merger Agreement) imposed by any regulators as part of the regulatory approval process. On October 3, 2023, the Company issued a Form 8-K and press release announcing the execution of the Merger Agreement and the Form 8-K is incorporated into this filing by reference. The Merger is expected to close in the first half of 2024. The Company operates as a holding company and currently has no other business operations. Fidelity Life is an Illinois‑domiciled life insurance company that was founded in 1896. Fidelity Life markets life insurance products through independent and affiliated distributors and is licensed in the District of Columbia and all states, except New York and Wyoming. Efinancial markets life and other products for non‑affiliated insurance companies and sells life products for Fidelity Life. The accompanying interim condensed consolidated financial statements present the accounts of the Company and subsidiaries for the three and nine months ended September 30, 2023 and at September 30, 2022 and December 31, 2022. These interim condensed consolidated financial statements and notes should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report in the Form 10-K for the year ended December 31, 2022 . The results of operations for the interim periods should not be considered indicative of results to be expected for the full year.
Basis of Presentation	Basis of Presentation These interim condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). The unaudited interim condensed consolidated financial information furnished herein reflects all adjustments which are, in the opinion of management, necessary to fairly state the results for the interim periods presented. All such adjustments are of a normal recurring nature. All intercompany accounts and transactions have been eliminated in consolidation. The consolidated results of operations for the interim periods presented are not necessarily indicative of results for the full year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted from this report, as is permitted by such rules and regulations. Accordingly, these interim condensed consolidated financial statements should be read in conjunction with the financial statements as of and for the year ended December 31, 2022 , and notes thereto, included in the Form 10-K.
Use of Estimates	Use of Estimates The preparation of interim condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The more significant estimates employed in the preparation of the interim condensed consolidated financial statements include the determination of the valuation of investments in fixed maturity, investment impairments, the valuation of deferred tax assets, future policy benefits and other policyholder liabilities.
Adopted Accounting Pronouncements	Adopted Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13 , Financial Instruments— Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The new guidance requires that Other-Than-Temporary Impairment (OTTI) on a debt security will be recognized as an allowance going forward, such that improvements in expected future cash flows after an impairment will no longer be reflected as a prospective yield adjustment through net investment income, but rather a reversal of the previous impairment and recognized through net gains (losses) on investments. The guidance also requires enhanced disclosures. In March 2022, the FASB issued ASU 2022-02 – Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructuring and Vintage Disclosure. This ASU was issued to eliminate the troubled debt restructuring recognition and measurement guidance for creditors that have adopted the current expected credit loss guidance while enhancing disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. The Company has assessed the impact of ASU 2016-13 and has established an additional for credit losses on our mortgage portfolio of $ 237 . The tax effected amount of $ 187 is reflected as a beginning of year equity as a Cumulative effect adjustment from changes in accounting guidance, net of tax. The Company has also assessed fixed maturities - available-for-sale, reinsurance recoverables and commissions and agent balances and determined no additional allowance for credit losses is needed. We also adopted the required disclosures within Note 2 Investments, Note 4 Reinsurance, Note 9 Accumulated Other Comprehensive Income and Note 10 Business Segments. Due to the adoption of the measurement of credit losses on financial instruments accounting standard, prior change in valuation allowance is now presented as a change in allowance for credit losses.

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Fixed Maturities	The amortized cost, gross unrealized gains, gross unrealized losses, fair value, and net of allowances for credit losses are included in accumulated other comprehensive income (AOCI) of fixed maturities available-for-sale are as follows: September 30, 2023 Fixed maturities Amortized Unrealized Unrealized Fair U.S. government and agencies $ 10,206 $ 108 $ ( 715 ) $ 9,599 U.S. agency mortgage-backed 7,353 15 ( 835 ) 6,533 State and political subdivisions 76,764 12 ( 13,437 ) 63,339 Corporate and miscellaneous 174,536 664 ( 19,397 ) 155,803 Foreign government 130 — ( 5 ) 125 Residential mortgage-backed 7,249 56 ( 685 ) 6,620 Commercial mortgage-backed 21,801 6 ( 2,152 ) 19,655 Asset-backed 36,561 71 ( 2,782 ) 33,850 Total fixed maturities $ 334,600 $ 932 $ ( 40,008 ) $ 295,524 December 31, 2022 Fixed maturities Amortized Unrealized Unrealized Fair OTTI (1) U.S. government and agencies $ 9,258 $ 349 $ ( 501 ) $ 9,106 $ — U.S. agency mortgage-backed 9,429 63 ( 614 ) 8,878 — State and political subdivisions 68,213 26 ( 12,015 ) 56,224 — Corporate and miscellaneous 171,283 1,473 ( 16,275 ) 156,481 — Foreign government 130 1 — 131 — Residential mortgage-backed 4,912 140 ( 622 ) 4,430 ( 709 ) Commercial mortgage-backed 21,374 2 ( 1,914 ) 19,462 — Asset-backed 47,347 5 ( 3,926 ) 43,426 — Total fixed maturities $ 331,946 $ 2,059 $ ( 35,867 ) $ 298,138 $ ( 709 ) (1) Due to the adoption of the measurement of credit losses on financial instruments accounting standard, OTTI is not presented in respect in the table above.
Schedule of Amortized Cost and Fair Value of Fixed Maturities Available-for-sale by Contractual Maturity	The amortized cost and fair value of fixed maturities available-for-sale by contractual maturity, are presented in the following table: September 30, 2023 Amortized Fair Due in one year or less $ 4,150 $ 4,122 Due after one year through five years 39,652 37,578 Due after five years through ten years 73,284 68,163 Due after ten years 144,550 119,003 Securities not due at a single maturity date — primarily mortgage and asset-backed 72,964 66,658 Total fixed maturities $ 334,600 $ 295,524
Schedule of Mortgage Loan Holdings Diversified by Geography and Property	Mortgage loan holdings are diversified by geography and property type as follows: September 30, 2023 December 31, 2022 Gross Carrying % of Total Gross Carrying % of Total Property Type: Retail $ 12,997 30.5 % $ 13,866 30.6 % Office 11,276 26.5 % 11,115 24.5 % Industrial 7,682 18.0 % 8,138 17.9 % Mixed use 4,860 11.4 % 5,249 11.6 % Apartments 2,100 4.9 % 2,796 6.2 % Medical office 2,546 6.0 % 3,053 6.7 % Other 1,115 2.7 % 1,136 2.5 % Gross carrying value of mortgage loans 42,576 100.0 % 45,353 100.0 % Credit loss allowance (1) ( 571 ) ( 83 ) Net carrying value of mortgage loans $ 42,005 $ 45,270 September 30, 2023 December 31, 2022 Gross Carrying % of Total Gross Carrying % of Total U.S. Region: West South Central $ 10,779 25.2 % $ 11,608 25.6 % East North Central 12,457 29.3 % 12,320 27.2 % South Atlantic 8,153 19.1 % 8,815 19.4 % West North Central 2,477 5.8 % 2,871 6.3 % Mountain 2,626 6.2 % 2,824 6.2 % Middle Atlantic 2,072 4.9 % 2,310 5.1 % East South Central 3,558 8.4 % 3,661 8.1 % New England — 0.0 % 34 0.1 % Pacific 454 1.1 % 910 2.0 % Gross carrying value of mortgage loans 42,576 100.0 % 45,353 100.0 % Credit loss allowance (1) ( 571 ) ( 83 ) Net carrying value of mortgage loans $ 42,005 $ 45,270 (1) Due to the adoption of the measurement of credit losses on financial instruments accounting standard, prior valuation allowance is now presented as an allowance for expected credit losses .
Schedule of Changes in Valuation Allowance for Commercial Mortgage Loans	The changes in the allowances for credit losses (includes $ 237 related to adoption of ASU 2016-13) for commercial mortgage loans were as follows: Nine Months Ended September 30, 2023 Year Ended December 31, 2022 Beginning balance $ 83 $ 69 Net increase in allowances for credit losses related to change in accounting standards (See Note 1) 237 — Net (decrease) increase in allowances for credit losses 251 14 Ending balance $ 571 $ 83
Schedule of Net Investment Income	The sources of net investment income are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Income from: Fixed maturities $ 3,684 $ 3,763 $ 11,690 $ 10,385 Policyholder loans 88 90 268 272 Mortgage loans 509 594 1,815 1,830 Cash, cash equivalents and restricted cash 47 32 110 34 Gross investment income 4,328 4,479 13,883 12,521 Investment expenses ( 318 ) ( 353 ) ( 1,037 ) ( 1,131 ) Net investment income $ 4,010 $ 4,126 $ 12,846 $ 11,390
Schedule of Net Investment Gains (Losses)	The sources of net investment gains (losses) are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Investment (losses) gains from sales: Fixed maturities $ ( 373 ) $ ( 61 ) $ ( 462 ) $ ( 191 ) Mortgage loans 56 ( 134 ) 56 ( 80 ) Gains and losses from sales ( 317 ) ( 195 ) ( 406 ) ( 271 ) Valuation change of other invested assets - (decline) appreciation: ( 271 ) ( 1,087 ) ( 1,080 ) 779 Change in allowance for credit losses (1) ( 295 ) ( 288 ) ( 273 ) ( 419 ) Total net gains (losses) on investments $ ( 883 ) $ ( 1,570 ) $ ( 1,759 ) $ 89 (1) Due to the adoption of the measurement of credit losses on financial instruments accounting standard, prior change in valuation allowance is now presented as a change in allowance for credit losses.
Rollforward of Cumulative Credit Losses on Fixed Maturities	A roll-forward of the cumulative credit losses on fixed maturities are as follows: September 30, December 31, 2023 2022 Beginning balance of credit losses on fixed maturities $ 1,263 $ 837 Additional credit loss not previously recognized (1) — 394 Additional credit loss that was previously recognized (1) 21 48 Reduction of credit losses related to securities sold during period — ( 16 ) Ending balance of credit losses on fixed maturities $ 1,284 $ 1,263 (1) Due to the adoption of the measurement of credit losses on financial instruments accounting standard, additional credit losses for OTTI is now presented as an additional credit loss.
Fair Value and Gross Unrealized Losses for Fixed Maturities Available-for-sale in Continuous Gross Unrealized Loss Position	The Company’s fair value and gross unrealized losses for fixed maturities available-for-sale, aggregated by investment category and length of time that individual securities have been in a continuous gross unrealized loss position are as follows: 12 months or less Longer than 12 months Total September 30, 2023 Estimated Gross Estimated Gross Estimated Gross Fixed maturities U.S. government and agencies $ 977 $ ( 22 ) $ 2,527 $ ( 693 ) $ 3,504 $ ( 715 ) U.S. agency mortgage-backed 780 ( 23 ) 4,712 ( 812 ) 5,492 ( 835 ) State and political subdivisions 19,634 ( 1,108 ) 42,635 ( 12,329 ) 62,269 ( 13,437 ) Corporate and miscellaneous 46,767 ( 3,546 ) 64,833 ( 15,851 ) 111,600 ( 19,397 ) Foreign Government 125 ( 5 ) — — 125 ( 5 ) Residential mortgage-backed 3,009 ( 69 ) 2,786 ( 616 ) 5,795 ( 685 ) Commercial mortgage-backed 1,711 ( 61 ) 17,499 ( 2,091 ) 19,210 ( 2,152 ) Asset-backed 5,262 ( 417 ) 26,143 ( 2,365 ) 31,405 ( 2,782 ) Total fixed maturities $ 78,265 $ ( 5,251 ) $ 161,135 $ ( 34,757 ) $ 239,400 $ ( 40,008 ) 12 months or less Longer than 12 months Total December 31, 2022 Estimated Gross Estimated Gross Estimated Gross Fixed maturities U.S. agency mortgage-backed $ 2,722 $ ( 501 ) $ — $ — $ 2,722 $ ( 501 ) State and political subdivisions 5,297 ( 578 ) 216 ( 36 ) 5,513 ( 614 ) Corporate and miscellaneous 38,252 ( 7,036 ) 15,057 ( 4,979 ) 53,309 ( 12,015 ) Foreign government 94,461 ( 13,479 ) 8,322 ( 2,796 ) 102,783 ( 16,275 ) Residential mortgage-backed 3,286 ( 554 ) 344 ( 68 ) 3,630 ( 622 ) Commercial mortgage-backed 16,218 ( 1,611 ) 2,655 ( 303 ) 18,873 ( 1,914 ) Asset-backed 20,465 ( 1,726 ) 21,069 ( 2,200 ) 41,534 ( 3,926 ) Total fixed maturities $ 180,701 $ ( 25,485 ) $ 47,663 $ ( 10,382 ) $ 228,364 $ ( 35,867 )
Schedule of Number of Fixed Maturities in Unrealized Loss Position and Percentage Investment Grade	Information and concentrations related to fixed maturities in an unrealized loss position are included below. The tables below include fixed maturities and number of securities in an unrealized loss position for greater than and less than 12 months and the percentage that were investment grade at September 30, 2023 . Unrealized Losses 12 months or less Gross Unrealized Losses Impairment is Impairment Impairment Percent Fixed maturities U.S. government and agencies $ ( 22 ) $ ( 22 ) $ — $ — 100 % U.S. agency mortgage-backed ( 23 ) ( 23 ) — — 100 % State and political subdivisions ( 1,108 ) ( 948 ) ( 160 ) — 100 % Corporate and miscellaneous ( 3,546 ) ( 1,607 ) ( 960 ) ( 979 ) 84 % Foreign Government ( 5 ) ( 5 ) — — 100 % Residential mortgage-backed ( 69 ) ( 69 ) — — 75 % Commercial mortgage-backed ( 61 ) ( 51 ) ( 10 ) — 100 % Asset-backed ( 417 ) ( 271 ) ( 85 ) ( 61 ) 100 % Gross unrealized losses $ ( 5,251 ) $ ( 2,996 ) $ ( 1,215 ) $ ( 1,040 ) Total number of fixed maturities 300 257 33 10 Unrealized Losses greater than 12 months Gross Unrealized Losses Impairment is Impairment Impairment Percent Fixed maturities U.S. government and agencies $ ( 693 ) $ ( 95 ) $ — $ ( 598 ) 100 % U.S. agency mortgage-backed ( 812 ) ( 44 ) ( 752 ) ( 16 ) 100 % State and political subdivisions ( 12,329 ) ( 563 ) ( 1,822 ) ( 9,944 ) 100 % Corporate and miscellaneous ( 15,851 ) ( 835 ) ( 3,348 ) ( 11,668 ) 87 % Residential mortgage-backed ( 616 ) ( 56 ) ( 306 ) ( 254 ) 89 % Commercial mortgage-backed ( 2,091 ) ( 487 ) ( 1,376 ) ( 228 ) 100 % Asset-backed ( 2,365 ) ( 789 ) ( 1,172 ) ( 404 ) 97 % Gross unrealized losses $ ( 34,757 ) $ ( 2,869 ) $ ( 8,776 ) $ ( 23,112 ) Total number of fixed maturities 587 145 201 241
Schedule of Gross Unrealized Losses By Unrealized Loss Position and Credit Quality	Investment Grade Below Investment Grade Total Fixed income securities with unrealized loss position less than or equal to 20% of amortized cost, net (1) (2) $ 15,251 $ 604 $ 15,855 Fixed income securities with unrealized loss position greater than 20% of amortized cost, net (3) (4) 23,704 449 24,153 Total unrealized losses $ 38,955 $ 1,053 $ 40,008 (1) Below investment grade fixed income securities include $ 150 that have been in an unrealized loss position for less than twelve months. (2) Related to securities with an unrealized loss position less than 20% of amortized cost, net, the degree of which suggests that these securities do not pose a high risk of having credit losses. (3) Below investment grade fixed income securities include $ 902 that have been in an unrealized loss position for a period of twelve or more consecutive months. (4) Evaluated based on factors such as discounted cash flows and the financial condition and near-term and long-term prospects of the issue or issuer and were determined to have adequate resources to fulfill contractual obligations.

Reinsurance (Tables)

Reinsurance (Tables)	9 Months Ended
	Sep. 30, 2023
Insurance [Abstract]
Schedule of Reinsurance Recoverables	Reinsurance recoverables are as follows: September 30, December 31, 2023 2022 Ceded future policy benefits $ 192,968 $ 173,904 Claims and other amounts recoverables 37,617 40,958 Ending balance $ 230,585 $ 214,862
Reconciliation of Direct Premiums to Net Premiums	The reconciliation of direct insurance premiums to net insurance premiums is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Direct premiums $ 46,413 $ 44,740 $ 135,613 $ 131,792 Assumed premiums 8,960 10,838 27,493 35,512 Ceded premiums ( 31,939 ) ( 31,110 ) ( 91,591 ) ( 93,830 ) Net insurance premiums $ 23,434 $ 24,468 $ 71,515 $ 73,474 The reconciliation of direct life, annuity, and health claim benefits to life, annuity, and health claim benefits as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Direct $ 34,658 $ 36,963 $ 93,623 $ 105,673 Assumed 10,209 5,656 16,136 15,911 Ceded ( 22,284 ) ( 25,114 ) ( 58,192 ) ( 73,962 ) Life, annuity, and health claim benefits $ 22,583 $ 17,505 $ 51,567 $ 47,622

Closed Block (Tables)

Closed Block (Tables)	9 Months Ended
	Sep. 30, 2023
Closed Block Disclosure [Abstract]
Schedule of Information Regarding Closed Block Liabilities (Assets) Designated to Closed Block	Information regarding the Closed Block liabilities (assets) designated to the Closed Block is as follows: September 30, December 31, Closed Block Liabilities 2023 2022 Future policy benefits and claims $ 29,216 $ 29,382 Policyholder account balances 6,567 6,731 Other policyholder liabilities 3,436 5,298 Policyholder dividend obligations 9,544 9,515 Other liabilities 38 586 Total Closed Block liabilities 48,801 51,512 Assets Designated to the Closed Block Investments: Fixed maturities - available-for-sale (amortized cost $ 41,673 and 40,522 , respectively) 36,464 36,625 Policyholder loans 1,238 1,132 Total investments 37,702 37,757 Cash and Cash Equivalents 365 — Premiums due and uncollected 382 1,852 Accrued investment income 490 457 Reinsurance recoverables 10,834 13,885 Deferred income tax assets, net 4,712 4,263 Total assets designated to the Closed Block 54,485 58,214 Excess of Closed Block assets over liabilities 5,684 6,702 Amounts included in accumulated other comprehensive income: Unrealized investment loss (gains), net of income tax ( 4,116 ) ( 3,079 ) Total amounts included in accumulated other comprehensive income ( 4,116 ) ( 3,079 ) Maximum future earnings and accumulated other comprehensive income to 11,058 and $ 10,792 , respectively) $ ( 9,800 ) $ ( 9,781 )
Schedule of Policyholder Dividend Obligation	September 30, December 31, Policyholder Dividend Obligations 2023 2022 Beginning balance $ 9,515 $ 12,669 Impact from earnings allocable to policyholder dividend obligations 29 ( 165 ) Change in net unrealized investment gains (losses) allocated to policyholder — ( 2,989 ) Ending balance $ 9,544 $ 9,515
Schedule of Information Regarding Closed Block Revenues and Expenses	Information regarding the Closed Block revenues and expenses is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Revenues Net insurance premiums $ 769 $ 329 $ 3,351 $ 2,357 Net investment income 456 375 1,361 1,157 Net Realized Investment Gains (Losses) 5 — 8 — Total revenues 1,230 704 4,720 3,514 Benefits and expenses Life and annuity benefits - including policyholder dividends 452 , $ 498 , $ 1,474 and $ 1,102 , respectively 1,353 1,072 4,258 3,588 Interest credited to policyholder account balances 42 44 124 128 Operating costs and expenses ( 38 ) ( 356 ) 314 ( 482 ) Total expenses 1,357 760 4,696 3,234 Revenues, net of expenses before provision for income tax ( 127 ) ( 56 ) 24 280 Income tax expense (benefit) ( 27 ) ( 12 ) 5 59 Revenues, net of expenses and provision for income tax $ ( 100 ) $ ( 44 ) $ 19 $ 221
Schedule of Amortized Cost and Fair Value of Closed Block Fixed Maturity Portfolio by Contractual Maturity	The following table presents the amortized cost and fair value of the Closed Block fixed maturities portfolio by contractual maturity at September 30, 2023. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties: Amortized Cost Fair Value Due in one year or less $ 1,100 $ 1,093 Due after one year through five years 6,615 6,482 Due after five years through ten years 6,836 6,374 Due after ten years 23,683 19,193 Securities not due at a single maturity date — primarily mortgage and asset- 3,439 3,322 Total fixed maturities $ 41,673 $ 36,464

Assets and Liabilities Measur_2

Assets and Liabilities Measured at Fair Value (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Summary of Assets Carried at Fair Value on Recurring and Non-recurring Basis	The Company’s assets that are carried at fair value on a recurring and non-recurring basis, by fair value hierarchy level, are as follows: September 30, 2023 Level 1 Level 2 Level 3 Total Fair Value Recurring fair value measurements Financial instruments recorded as assets: Fixed maturities U.S. government and agencies $ — $ 9,599 $ — $ 9,599 U.S. agency mortgage-backed — 6,533 — 6,533 State and political subdivisions — 62,895 444 63,339 Corporate and miscellaneous 2,231 127,012 26,560 155,803 Foreign government — 125 — 125 Residential mortgage-backed — 6,620 — 6,620 Commercial mortgage-backed — 19,655 — 19,655 Asset-backed — 30,512 3,338 33,850 Total fixed maturities 2,231 262,951 30,342 295,524 Total recurring assets $ 2,231 $ 262,951 $ 30,342 $ 295,524 December 31, 2022 Level 1 Level 2 Level 3 Total Fair Value Recurring fair value measurements Financial instruments recorded as assets: Fixed maturities U.S. government and agencies $ — $ 9,106 $ — $ 9,106 U.S. agency mortgage-backed — 8,878 — 8,878 State and political subdivisions — 55,782 442 56,224 Corporate and miscellaneous 2,847 126,644 26,990 156,481 Foreign government — 131 — 131 Residential mortgage-backed — 4,430 — 4,430 Commercial mortgage-backed — 19,462 — 19,462 Asset-backed — 40,293 3,133 43,426 Total fixed maturities 2,847 264,726 30,565 298,138 Total recurring assets $ 2,847 $ 264,726 $ 30,565 $ 298,138
Summary of Changes in Fair Value of Level 3 Assets Held at Fair Value on Recurring Basis	A summary of changes in fair value of Level 3 assets held at fair value on a recurring basis is as follows: Total gains (losses) included in: Balance at January 1, 2023 Net Income OCI Purchases Sales Settlements Net Balance at September 30, 2023 Financial Assets Fixed maturities State and political subdivision $ 442 $ — $ 2 $ — $ — $ — $ — $ 444 Corporate and miscellaneous 26,991 2 ( 31 ) 2,449 ( 2,989 ) — 138 26,560 Asset-backed 3,133 90 80 145 ( 610 ) — 500 3,338 Total assets $ 30,566 $ 92 $ 51 $ 2,594 $ ( 3,599 ) $ — $ 638 $ 30,342 Total gains (losses) included in: Balance at January 1, 2022 Net Income OCI Purchases Sales Settlements Net Balance at December 31, 2022 Financial Assets Fixed maturities State and political subdivisions $ 498 $ — $ ( 56 ) $ — $ — $ — $ — $ 442 Corporate and miscellaneous 24,740 2 ( 398 ) 3,198 ( 2,582 ) 1,468 563 26,991 Asset-backed 2,838 ( 122 ) ( 325 ) 1,907 ( 1,260 ) — 95 3,133 Total assets $ 28,076 $ ( 120 ) $ ( 779 ) $ 5,105 $ ( 3,842 ) $ 1,468 $ 658 $ 30,566
Summary of Carrying Amount and Estimated Fair Values of Financial Instruments not Measured at Fair Value	The carrying amount and estimated fair values of the Company’s financial instruments that are not measured at fair value on the Interim Condensed Consolidated Balance Sheets are as follows: Estimated Fair Value September 30, 2023 Carrying Value Level 1 Level 2 Level 3 Total Financial instruments recorded as assets: Mortgage loans $ 42,005 $ — $ — $ 38,074 $ 38,074 Policyholder loans $ 7,062 $ — $ — $ 8,136 $ 8,136 Financial instruments recorded as liabilities: Future policy benefits, excluding term life reserves $ 15,776 $ — $ — $ 14,511 $ 14,511 Long/short-term debt $ 46,483 $ — $ — $ 47,762 $ 47,762 Policyholder account balances $ 72,245 $ — $ — $ 65,459 $ 65,459 Estimated Fair Value December 31, 2022 Carrying Value Level 1 Level 2 Level 3 Total Financial instruments recorded as assets: Mortgage loans $ 45,270 $ — $ — $ 41,622 $ 41,622 Policyholder loans $ 6,699 $ — $ — $ 7,722 $ 7,722 Financial instruments recorded Future policy benefits, excluding term $ 16,555 $ — $ — $ 15,192 $ 15,192 Long/short-term debt $ 37,189 $ — $ — $ 36,763 $ 36,763 Policyholder account balances $ 77,443 $ — $ — $ 70,157 $ 70,157

Long and Short-Term Debt (Table

Long and Short-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Long Term and Short Term Debt Pay Back	At September 30, 2023, the Company expects to pay back the aggregate amounts as presented in the following table. September 30, 2023 Due in one year or less $ 9,172 Due after one year through two years 6,328 Due after two years through three years 5,891 Due after three years through four years 5,493 Due after four years through five years 5,014 Due after five years 38,411 Less discount ( 23,826 ) Total long/short-term debt $ 46,483

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive (Loss) Income (Tables)	9 Months Ended
	Sep. 30, 2023
Equity, Attributable to Parent [Abstract]
Changes in Accumulated Other Comprehensive (Loss) Income, Net of Taxes	Changes in accumulated other comprehensive (loss) income, net of taxes are as follows: 2023 2022 Net Unrealized Net Unrealized Total Net Unrealized Net Unrealized Total Balance at beginning of year $ 362 $ ( 30,534 ) $ ( 30,172 ) $ 362 $ 10,567 $ 10,929 Third Quarter Other comprehensive income (loss) Unrealized holding (losses) gains from changes in the market value of securities — ( 10,166 ) ( 10,166 ) — ( 15,424 ) ( 15,424 ) Impact on policy benefit liabilities of changes in market value of securities — 340 340 — 1,545 1,545 Change in net unrealized investment (losses) gains allocated to policyholder dividend obligations — — — — — — Deferred income tax (expense) benefit — 1,744 1,744 — 2,915 2,915 Third Quarter, net — ( 8,082 ) ( 8,082 ) — ( 10,964 ) ( 10,964 ) Year to Date Other comprehensive (loss) income Unrealized holding (losses) gains from changes in the market value of securities — ( 5,268 ) ( 5,268 ) — ( 60,944 ) ( 60,944 ) Impact on policy benefit liabilities of changes in market value of securities — 469 469 — 6,065 6,065 Change in net unrealized investment (losses) gains allocated to policyholder dividend obligations — — — — 2,989 2,989 Deferred income tax benefit (expense) — 843 843 — 10,897 10,897 Year to Date, net — ( 3,956 ) ( 3,956 ) — ( 40,993 ) ( 40,993 ) Balance at end of period $ 362 $ ( 34,490 ) $ ( 34,128 ) $ 362 $ ( 30,426 ) $ ( 30,064 )

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Information	The segment results are as follows: Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 Insurance Agency Corporate & Other Total Insurance Agency Corporate & Other Total Net insurance premiums $ 23,434 $ — $ — $ 23,434 $ 24,468 $ — $ — $ 24,468 Net investment income 3,931 — 79 4,010 3,927 — 199 4,126 Net (losses) gains on investments (1) ( 883 ) — — ( 883 ) ( 1,100 ) — ( 470 ) ( 1,570 ) Earned commissions — 15,354 — 15,354 — 11,379 ( 112 ) 11,267 Other income 274 1,472 — 1,746 144 1,259 — 1,403 Total revenues 26,756 16,826 79 43,661 27,439 12,638 ( 383 ) 39,694 Life, annuity, and health claim benefits 23,210 — — 23,210 18,151 — — 18,151 Operating costs and expenses 7,914 16,564 2,277 26,755 7,957 14,110 1,066 23,133 Amortization of deferred policy acquisition 3,283 — — 3,283 4,086 — — 4,086 Total benefits and expenses 34,407 16,564 2,277 53,248 30,194 14,110 1,066 45,370 Income (loss) before income taxes $ ( 7,651 ) $ 262 $ ( 2,198 ) $ ( 9,587 ) $ ( 2,755 ) $ ( 1,472 ) $ ( 1,449 ) $ ( 5,676 ) (1) Due to the adoption of the measurement of credit losses on financial instruments accounting standard, items previously reported as OTTI, are now included in net (losses) gains on investments. Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 Insurance Agency Corporate & Other Total Insurance Agency Corporate & Other Total Net insurance premiums $ 71,515 $ — $ — $ 71,515 $ 73,474 $ — $ — $ 73,474 Net investment income 12,618 — 228 12,846 10,982 — 408 11,390 Net realized investment gains (losses) (1) ( 1,395 ) — ( 364 ) ( 1,759 ) ( 267 ) — 356 89 Earned commissions — 45,880 ( 345 ) 45,535 — 33,105 ( 313 ) 32,792 Other income 804 4,079 — 4,883 419 3,773 — 4,192 Total revenues 83,542 49,959 ( 481 ) 133,020 84,608 36,878 451 121,937 Life, annuity, and health claim benefits 53,567 — — 53,567 49,722 — — 49,722 Operating costs and expenses 23,843 48,636 5,760 78,239 25,143 42,573 5,143 72,859 Amortization of deferred policy 9,913 — — 9,913 13,237 — — 13,237 Total benefits and expenses 87,323 48,636 5,760 141,719 88,102 42,573 5,143 135,818 (Loss) income before income tax $ ( 3,781 ) $ 1,323 $ ( 6,241 ) $ ( 8,699 ) $ ( 3,494 ) $ ( 5,695 ) $ ( 4,692 ) $ ( 13,881 ) (1) Due to the adoption of the measurement of credit losses on financial instruments accounting standard, items previously reported as OTTI, are now included in net (losses) gains on investments. September 30, 2023 December 31, 2022 Insurance Agency Corporate & Other Total Insurance Agency Corporate & Other Total Investments and cash $ 351,240 $ 800 $ 2,979 $ 355,019 $ 358,620 $ 1,094 $ 3,862 $ 363,576 Commissions and agent balances 8,550 41,865 — 50,415 4,751 30,015 — 34,766 Deferred policy acquisition costs 88,171 — — 88,171 90,189 — — 90,189 Intangible assets — 1,635 — 1,635 — 1,635 — 1,635 Reinsurance recoverables net 230,585 — — 230,585 214,862 — — 214,862 Deferred income tax assets, net 18,361 — 13,642 32,003 13,489 — 14,948 28,437 Other 28,635 9,068 654 38,357 26,800 5,869 3,944 36,613 Total assets $ 725,542 $ 53,368 $ 17,275 $ 796,185 $ 708,711 $ 38,613 $ 22,754 $ 770,078

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		9 Months Ended
	Aug. 07, 2019	Sep. 30, 2023	Oct. 03, 2023	Dec. 31, 2022	Sep. 30, 2022
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, adopted [true false]		true
Common stock acquired by parent		$ 15		$ 15
Accounting Standards Update [Extensible Enumeration]		Accounting Standards Update 2016-13 [Member]
Equity, tax effected amount		$ 99,323		$ 111,343	$ 118,815
Additional credit losses on mortgage portfolio		237
Subsequent event [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Common stock outstanding converted into right to receive in cash			$ 11.43
Parent [Member] | Subsequent event [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Common stock acquired by parent			$ 170,000
Mortgage Loans
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Additional credit losses on mortgage portfolio		237
Cumulative Effect Adjustment from Changes in Accounting Guidance, Net of Tax
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Equity, tax effected amount		$ 187
Initial Public Offering
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Common stock issued	14,875,000
Common stock per share	$ 10

Investments - Schedule of Fixed

Investments - Schedule of Fixed Maturities (Details) - USD ($) $ in Thousands		Sep. 30, 2023	Dec. 31, 2022
Schedule Of Available For Sale Securities [Line Items]
Fixed maturities, available-for-sale, Amortized Cost		$ 334,600	$ 331,946
Fixed maturities, available-for-sale, Unrealized Gains		932	2,059
Fixed maturities, available-for-sale, Unrealized Losses		(40,008)	(35,867)
Fixed maturities, available-for-sale, Fair Value		295,524	298,138
Fixed maturities, available-for-sale, OTTI Losses	[1]		(709)
U.S. Government and Agencies
Schedule Of Available For Sale Securities [Line Items]
Fixed maturities, available-for-sale, Amortized Cost		10,206	9,258
Fixed maturities, available-for-sale, Unrealized Gains		108	349
Fixed maturities, available-for-sale, Unrealized Losses		(715)	(501)
Fixed maturities, available-for-sale, Fair Value		9,599	9,106
U.S. Agency Mortgage-backed
Schedule Of Available For Sale Securities [Line Items]
Fixed maturities, available-for-sale, Amortized Cost		7,353	9,429
Fixed maturities, available-for-sale, Unrealized Gains		15	63
Fixed maturities, available-for-sale, Unrealized Losses		(835)	(614)
Fixed maturities, available-for-sale, Fair Value		6,533	8,878
State and Political Subdivisions
Schedule Of Available For Sale Securities [Line Items]
Fixed maturities, available-for-sale, Amortized Cost		76,764	68,213
Fixed maturities, available-for-sale, Unrealized Gains		12	26
Fixed maturities, available-for-sale, Unrealized Losses		(13,437)	(12,015)
Fixed maturities, available-for-sale, Fair Value		63,339	56,224
Corporate and Miscellaneous
Schedule Of Available For Sale Securities [Line Items]
Fixed maturities, available-for-sale, Amortized Cost		174,536	171,283
Fixed maturities, available-for-sale, Unrealized Gains		664	1,473
Fixed maturities, available-for-sale, Unrealized Losses		(19,397)	(16,275)
Fixed maturities, available-for-sale, Fair Value		155,803	156,481
Foreign Government
Schedule Of Available For Sale Securities [Line Items]
Fixed maturities, available-for-sale, Amortized Cost		130	130
Fixed maturities, available-for-sale, Unrealized Gains			1
Fixed maturities, available-for-sale, Unrealized Losses		(5)
Fixed maturities, available-for-sale, Fair Value		125	131
Residential Mortgage-backed
Schedule Of Available For Sale Securities [Line Items]
Fixed maturities, available-for-sale, Amortized Cost		7,249	4,912
Fixed maturities, available-for-sale, Unrealized Gains		56	140
Fixed maturities, available-for-sale, Unrealized Losses		(685)	(622)
Fixed maturities, available-for-sale, Fair Value		6,620	4,430
Fixed maturities, available-for-sale, OTTI Losses	[1]		(709)
Commercial Mortgage-backed
Schedule Of Available For Sale Securities [Line Items]
Fixed maturities, available-for-sale, Amortized Cost		21,801	21,374
Fixed maturities, available-for-sale, Unrealized Gains		6	2
Fixed maturities, available-for-sale, Unrealized Losses		(2,152)	(1,914)
Fixed maturities, available-for-sale, Fair Value		19,655	19,462
Asset-backed
Schedule Of Available For Sale Securities [Line Items]
Fixed maturities, available-for-sale, Amortized Cost		36,561	47,347
Fixed maturities, available-for-sale, Unrealized Gains		71	5
Fixed maturities, available-for-sale, Unrealized Losses		(2,782)	(3,926)
Fixed maturities, available-for-sale, Fair Value		$ 33,850	$ 43,426
[1] Due to the adoption of the measurement of credit losses on financial instruments accounting standard, OTTI is not presented in respect in the table above.

Investments - Schedule of Amort

Investments - Schedule of Amortized Cost and Fair Value of Fixed Maturities Available-for-sale by Contractual Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Due in one year or less, Amortized Cost	$ 4,150
Due after one year through five years, Amortized Cost	39,652
Due after five years through ten years, Amortized Cost	73,284
Due after ten years, Amortized Cost	144,550
Securities not due at a single maturity date - primarily mortgage and asset-backed, Amortized Cost	72,964
Fixed maturities, available-for-sale, Amortized Cost	334,600	$ 331,946
Due in one year or less, Fair Value	4,122
Due after one year through five years, Fair Value	37,578
Due after five years through ten years, Fair Value	68,163
Due after ten years, Fair Value	119,003
Securities not due at a single maturity date -primarily mortgage and asset-backed, Fair Value	66,658
Total fixed maturities, Fair Value	$ 295,524	$ 298,138

Investments - Additional Inform

Investments - Additional Information (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) Loan Investment	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($) Loan
Schedule Of Investments [Line Items]
Commitments to investment in available for sale securities	$ 0		$ 0		$ 1,290,000
Number of investment instruments | Investment			35
Number of mortgage loan | Loan			319
Additional valuation allowance on mortgage portfolio			$ 237,000
Accounting Standards Update [Extensible Enumeration]			Accounting Standards Update 2016-13 [Member]
Average loan balance			$ 133,000
Maximum exposure related to a single loan			600,000
New mortgage loans purchased			$ 964,000	$ 3,965,000
Number of mortgage loans in restructured status | Loan			2		3
Total carrying value of mortgage loans in restructured status	358,000		$ 358,000		$ 692,000
Impairments for mortgage loans	1,000	$ 0			0
Mortgage loans, nonaccrual status	0		0		0
Commitments to investment in mortgage loans	3,023,000		3,023,000		2,575,000
Gross unrealized losses	40,008,000		$ 40,008,000		$ 35,867,000
Minimum
Schedule Of Investments [Line Items]
Commercial mortgage loan ownership percent			0.60%
Maximum
Schedule Of Investments [Line Items]
Commercial mortgage loan ownership percent			30%
Mortgage Loans Receivable | Credit Concentration Risk
Schedule Of Investments [Line Items]
Fixed maturities portfolio			100%		100%
Mortgage Loans Receivable | Credit Concentration Risk | Investment Grade Securities
Schedule Of Investments [Line Items]
Fixed maturities portfolio			96.20%		95.10%
Fixed Maturities
Schedule Of Investments [Line Items]
Deposit with governmental authorities	$ 2,486,000		$ 2,486,000		$ 2,680,000

Investments - Schedule of Mortg

Investments - Schedule of Mortgage Loan Holdings Diversified by Geography and Property (Details) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
		Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Investments [Line Items]
Credit loss allowance		$ (571)	$ (83)	$ (69)
Net carrying value of mortgage loans		$ 42,005	$ 45,270
Mortgage Loans Receivable | Credit Concentration Risk
Schedule Of Investments [Line Items]
Fixed maturities portfolio		100%	100%
Mortgage Loans Receivable | Geographic Concentration Risk
Schedule Of Investments [Line Items]
Fixed maturities portfolio		100%	100%
Mortgage Loans Receivable | Geographic Concentration Risk | West South Central
Schedule Of Investments [Line Items]
Fixed maturities portfolio		25.20%	25.60%
Mortgage Loans Receivable | Geographic Concentration Risk | East North Central
Schedule Of Investments [Line Items]
Fixed maturities portfolio		29.30%	27.20%
Mortgage Loans Receivable | Geographic Concentration Risk | South Atlantic
Schedule Of Investments [Line Items]
Fixed maturities portfolio		19.10%	19.40%
Mortgage Loans Receivable | Geographic Concentration Risk | West North Central
Schedule Of Investments [Line Items]
Fixed maturities portfolio		5.80%	6.30%
Mortgage Loans Receivable | Geographic Concentration Risk | Mountain
Schedule Of Investments [Line Items]
Fixed maturities portfolio		6.20%	6.20%
Mortgage Loans Receivable | Geographic Concentration Risk | Middle Atlantic
Schedule Of Investments [Line Items]
Fixed maturities portfolio		4.90%	5.10%
Mortgage Loans Receivable | Geographic Concentration Risk | East South Central
Schedule Of Investments [Line Items]
Fixed maturities portfolio		8.40%	8.10%
Mortgage Loans Receivable | Geographic Concentration Risk | New England
Schedule Of Investments [Line Items]
Fixed maturities portfolio		0%	0.10%
Mortgage Loans Receivable | Geographic Concentration Risk | Pacific
Schedule Of Investments [Line Items]
Fixed maturities portfolio		1.10%	2%
Mortgage Loans
Schedule Of Investments [Line Items]
Gross carrying value of mortgage loans		$ 42,576	$ 45,353
Credit loss allowance	[1]	(571)	(83)
Net carrying value of mortgage loans		42,005	45,270
Mortgage Loans | West South Central
Schedule Of Investments [Line Items]
Gross carrying value of mortgage loans		10,779	11,608
Mortgage Loans | East North Central
Schedule Of Investments [Line Items]
Gross carrying value of mortgage loans		12,457	12,320
Mortgage Loans | South Atlantic
Schedule Of Investments [Line Items]
Gross carrying value of mortgage loans		8,153	8,815
Mortgage Loans | West North Central
Schedule Of Investments [Line Items]
Gross carrying value of mortgage loans		2,477	2,871
Mortgage Loans | Mountain
Schedule Of Investments [Line Items]
Gross carrying value of mortgage loans		2,626	2,824
Mortgage Loans | Middle Atlantic
Schedule Of Investments [Line Items]
Gross carrying value of mortgage loans		2,072	2,310
Mortgage Loans | East South Central
Schedule Of Investments [Line Items]
Gross carrying value of mortgage loans		3,558	3,661
Mortgage Loans | New England
Schedule Of Investments [Line Items]
Gross carrying value of mortgage loans			34
Mortgage Loans | Pacific
Schedule Of Investments [Line Items]
Gross carrying value of mortgage loans		$ 454	$ 910
Retail | Mortgage Loans Receivable | Credit Concentration Risk
Schedule Of Investments [Line Items]
Fixed maturities portfolio		30.50%	30.60%
Retail | Mortgage Loans
Schedule Of Investments [Line Items]
Gross carrying value of mortgage loans		$ 12,997	$ 13,866
Office | Mortgage Loans Receivable | Credit Concentration Risk
Schedule Of Investments [Line Items]
Fixed maturities portfolio		26.50%	24.50%
Office | Mortgage Loans
Schedule Of Investments [Line Items]
Gross carrying value of mortgage loans		$ 11,276	$ 11,115
Industrial | Mortgage Loans Receivable | Credit Concentration Risk
Schedule Of Investments [Line Items]
Fixed maturities portfolio		18%	17.90%
Industrial | Mortgage Loans
Schedule Of Investments [Line Items]
Gross carrying value of mortgage loans		$ 7,682	$ 8,138
Mixed Use | Mortgage Loans Receivable | Credit Concentration Risk
Schedule Of Investments [Line Items]
Fixed maturities portfolio		11.40%	11.60%
Mixed Use | Mortgage Loans
Schedule Of Investments [Line Items]
Gross carrying value of mortgage loans		$ 4,860	$ 5,249
Apartments | Mortgage Loans Receivable | Credit Concentration Risk
Schedule Of Investments [Line Items]
Fixed maturities portfolio		4.90%	6.20%
Apartments | Mortgage Loans
Schedule Of Investments [Line Items]
Gross carrying value of mortgage loans		$ 2,100	$ 2,796
Medical Office | Mortgage Loans Receivable | Credit Concentration Risk
Schedule Of Investments [Line Items]
Fixed maturities portfolio		6%	6.70%
Medical Office | Mortgage Loans
Schedule Of Investments [Line Items]
Gross carrying value of mortgage loans		$ 2,546	$ 3,053
Other | Mortgage Loans Receivable | Credit Concentration Risk
Schedule Of Investments [Line Items]
Fixed maturities portfolio		2.70%	2.50%
Other | Mortgage Loans
Schedule Of Investments [Line Items]
Gross carrying value of mortgage loans		$ 1,115	$ 1,136
[1] Due to the adoption of the measurement of credit losses on financial instruments accounting standard, prior valuation allowance is now presented as an allowance for expected credit losses

Investments - Schedule of Chang

Investments - Schedule of Changes in Valuation Allowance for Commercial Mortgage Loans (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Beginning balance	$ 83	$ 69
Net increase in allowances for credit losses related to change in accounting standards (See Note 1)	$ 237
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2016-13 [Member]
Net (decrease) increase in allowances for credit losses	$ (251)	14
Ending balance	$ 571	$ 83

Investments - Schedule of Net I

Investments - Schedule of Net Investment Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Gross investment income	$ 4,328	$ 4,479	$ 13,883	$ 12,521
Investment expenses	(318)	(353)	(1,037)	(1,131)
Net investment income	4,010	4,126	12,846	11,390
Fixed Maturities
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Interest	3,684	3,763	11,690	10,385
Policyholder Loans
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Interest	88	90	268	272
Mortgage Loans
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Interest	509	594	1,815	1,830
Cash and Cash Equivalents and Restricted Cash
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Interest	$ 47	$ 32	$ 110	$ 34

Investments - Schedule of Net_2

Investments - Schedule of Net Investment Gains (Losses) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Schedule Of Gain Loss On Investments Including Marketable Securities And Investments Held At Cost Income Statement Reported Amounts Summary [Line Items]
Gains and losses from sales		$ (317)	$ (195)	$ (406)	$ (271)
Change in allowance for credit losses	[1]	(295)	(288)	(273)	(419)
Total net gains (losses) on investments		(883)	(1,570)	(1,759)	89
Fixed Maturities
Schedule Of Gain Loss On Investments Including Marketable Securities And Investments Held At Cost Income Statement Reported Amounts Summary [Line Items]
Gains and losses from sales		(373)	(61)	(462)	(191)
Mortgage Loans
Schedule Of Gain Loss On Investments Including Marketable Securities And Investments Held At Cost Income Statement Reported Amounts Summary [Line Items]
Gains and losses from sales		56	(134)	56	(80)
Other Invested Assets
Schedule Of Gain Loss On Investments Including Marketable Securities And Investments Held At Cost Income Statement Reported Amounts Summary [Line Items]
Valuation change of other invested assets - (decline) appreciation:		$ (271)	$ (1,087)	$ (1,080)	$ 779
[1] Due to the adoption of the measurement of credit losses on financial instruments accounting standard, prior change in valuation allowance is now presented as a change in allowance for credit losses.

Investments - Rollforward of Cu

Investments - Rollforward of Cumulative Credit Losses on Fixed Maturities (Details) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
		Sep. 30, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Beginning balance of credit losses on fixed maturities		$ 1,263	$ 837
Additional credit loss not previously recognized	[1]		394
Additional credit loss that was previously recognized	[1]	21	48
Reduction of credit losses related to securities sold during period			(16)
Ending balance of credit losses on fixed maturities		$ 1,284	$ 1,263
[1] Due to the adoption of the measurement of credit losses on financial instruments accounting standard, additional credit losses for OTTI is now presented as an additional credit loss.

Investments - Fair Value and Gr

Investments - Fair Value and Gross Unrealized Losses for Fixed Maturities Available-for-sale in Continuous Gross Unrealized Loss Position (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Schedule Of Available For Sale Securities [Line Items]
Fixed maturity securities, 12 months or less, Estimated Fair Value	$ 78,265	$ 180,701
Fixed maturity securities, 12 months or less, Gross Unrealized Losses	(5,251)	(25,485)
Fixed maturity securities, Longer than 12 months, Estimated Fair Value	161,135	47,663
Fixed maturity securities, Longer than 12 months, Gross Unrealized Losses	(34,757)	(10,382)
Fixed maturity securities, Total, Estimated Fair Value	239,400	228,364
Fixed maturity securities, Total, Gross Unrealized Losses	(40,008)	(35,867)
U.S. Government and Agencies
Schedule Of Available For Sale Securities [Line Items]
Fixed maturity securities, 12 months or less, Estimated Fair Value	977
Fixed maturity securities, 12 months or less, Gross Unrealized Losses	(22)
Fixed maturity securities, Longer than 12 months, Estimated Fair Value	2,527
Fixed maturity securities, Longer than 12 months, Gross Unrealized Losses	(693)
Fixed maturity securities, Total, Estimated Fair Value	3,504
Fixed maturity securities, Total, Gross Unrealized Losses	(715)
U.S. Agency Mortgage-backed
Schedule Of Available For Sale Securities [Line Items]
Fixed maturity securities, 12 months or less, Estimated Fair Value	780	2,722
Fixed maturity securities, 12 months or less, Gross Unrealized Losses	(23)	(501)
Fixed maturity securities, Longer than 12 months, Estimated Fair Value	4,712
Fixed maturity securities, Longer than 12 months, Gross Unrealized Losses	(812)
Fixed maturity securities, Total, Estimated Fair Value	5,492	2,722
Fixed maturity securities, Total, Gross Unrealized Losses	(835)	(501)
State and Political Subdivisions
Schedule Of Available For Sale Securities [Line Items]
Fixed maturity securities, 12 months or less, Estimated Fair Value	19,634	5,297
Fixed maturity securities, 12 months or less, Gross Unrealized Losses	(1,108)	(578)
Fixed maturity securities, Longer than 12 months, Estimated Fair Value	42,635	216
Fixed maturity securities, Longer than 12 months, Gross Unrealized Losses	(12,329)	(36)
Fixed maturity securities, Total, Estimated Fair Value	62,269	5,513
Fixed maturity securities, Total, Gross Unrealized Losses	(13,437)	(614)
Corporate and Miscellaneous
Schedule Of Available For Sale Securities [Line Items]
Fixed maturity securities, 12 months or less, Estimated Fair Value	46,767	38,252
Fixed maturity securities, 12 months or less, Gross Unrealized Losses	(3,546)	(7,036)
Fixed maturity securities, Longer than 12 months, Estimated Fair Value	64,833	15,057
Fixed maturity securities, Longer than 12 months, Gross Unrealized Losses	(15,851)	(4,979)
Fixed maturity securities, Total, Estimated Fair Value	111,600	53,309
Fixed maturity securities, Total, Gross Unrealized Losses	(19,397)	(12,015)
Foreign Government
Schedule Of Available For Sale Securities [Line Items]
Fixed maturity securities, 12 months or less, Estimated Fair Value	125	94,461
Fixed maturity securities, 12 months or less, Gross Unrealized Losses	(5)	(13,479)
Fixed maturity securities, Longer than 12 months, Estimated Fair Value		8,322
Fixed maturity securities, Longer than 12 months, Gross Unrealized Losses		(2,796)
Fixed maturity securities, Total, Estimated Fair Value	125	102,783
Fixed maturity securities, Total, Gross Unrealized Losses	(5)	(16,275)
Residential Mortgage-backed
Schedule Of Available For Sale Securities [Line Items]
Fixed maturity securities, 12 months or less, Estimated Fair Value	3,009	3,286
Fixed maturity securities, 12 months or less, Gross Unrealized Losses	(69)	(554)
Fixed maturity securities, Longer than 12 months, Estimated Fair Value	2,786	344
Fixed maturity securities, Longer than 12 months, Gross Unrealized Losses	(616)	(68)
Fixed maturity securities, Total, Estimated Fair Value	5,795	3,630
Fixed maturity securities, Total, Gross Unrealized Losses	(685)	(622)
Commercial Mortgage-backed
Schedule Of Available For Sale Securities [Line Items]
Fixed maturity securities, 12 months or less, Estimated Fair Value	1,711	16,218
Fixed maturity securities, 12 months or less, Gross Unrealized Losses	(61)	(1,611)
Fixed maturity securities, Longer than 12 months, Estimated Fair Value	17,499	2,655
Fixed maturity securities, Longer than 12 months, Gross Unrealized Losses	(2,091)	(303)
Fixed maturity securities, Total, Estimated Fair Value	19,210	18,873
Fixed maturity securities, Total, Gross Unrealized Losses	(2,152)	(1,914)
Asset-backed
Schedule Of Available For Sale Securities [Line Items]
Fixed maturity securities, 12 months or less, Estimated Fair Value	5,262	20,465
Fixed maturity securities, 12 months or less, Gross Unrealized Losses	(417)	(1,726)
Fixed maturity securities, Longer than 12 months, Estimated Fair Value	26,143	21,069
Fixed maturity securities, Longer than 12 months, Gross Unrealized Losses	(2,365)	(2,200)
Fixed maturity securities, Total, Estimated Fair Value	31,405	41,534
Fixed maturity securities, Total, Gross Unrealized Losses	$ (2,782)	$ (3,926)

Investments - Schedule of Fix_2

Investments - Schedule of Fixed Maturities and Number of Fixed Maturities in Unrealized Loss Position and Percentage Investment Grade (Details)	Sep. 30, 2023 Security
Schedule Of Available For Sale Securities [Line Items]
Unrealized Losses 12 months or less, Total	(5,251)
Unrealized Losses 12 months or less, Impairment is Less than 10% of Amortized Cost	(2,996)
Unrealized Losses 12 months or less, Impairment is Between 10% and 20% of Amortized Cost	(1,215)
Unrealized Losses 12 months or less, Impairment is Greater than 20% of Amortized Cost	(1,040)
Unrealized Losses 12 months or less, Number of Fixed Maturities Total	300
Unrealized Losses 12 months or less, Impairment is Less than 10% of Amortized Cost Number of Fixed Maturities	257
Unrealized Losses 12 months or less, Impairment is Between 10% and 20% of Amortized Cost, Number of Fixed Maturities Total	33
Unrealized Losses 12 months or less, Impairment is Greater than 20% of Amortized Cost Number Fixed Maturities Total	10
Unrealized Losses greater than 12 months, Total	(34,757)
Unrealized Losses greater than 12 months, Impairment is Less than 10% of Amortized Cost	(2,869)
Unrealized Losses greater than 12 months, Impairment is Between 10% and 20% of Amortized Cost	(8,776)
Unrealized Losses greater than 12 months, Impairment is Greater than 20% of Amortized Cost	(23,112)
Unrealized Losses greater than 12 months, Number of Fixed Maturities, Total	587
Unrealized Losses greater than 12 months, Impairment is Less than 10% of Amortized Cost Number of Fixed Maturities Total	145
Unrealized Losses greater than 12 months, Impairment is Between 10% and 20% of Amortized Cost Number of Fixed Maturities Total	201
Unrealized Losses greater than 12 months, Impairment is Greater than 20% of Amortized Cost Number of Fixed Maturities Total	241
U.S. Government and Agencies
Schedule Of Available For Sale Securities [Line Items]
Unrealized Losses 12 months or less, Total	(22)
Unrealized Losses 12 months or less, Impairment is Less than 10% of Amortized Cost	(22)
Unrealized Losses 12 months or less, Percent Investment Grade	100%
Unrealized Losses greater than 12 months, Total	(693)
Unrealized Losses greater than 12 months, Impairment is Less than 10% of Amortized Cost	(95)
Unrealized Losses greater than 12 months, Impairment is Greater than 20% of Amortized Cost	(598)
Unrealized Losses greater than 12 months, Percent Investment Grade	100%
U.S. Agency Mortgage-backed
Schedule Of Available For Sale Securities [Line Items]
Unrealized Losses 12 months or less, Total	(23)
Unrealized Losses 12 months or less, Impairment is Less than 10% of Amortized Cost	(23)
Unrealized Losses 12 months or less, Percent Investment Grade	100%
Unrealized Losses greater than 12 months, Total	(812)
Unrealized Losses greater than 12 months, Impairment is Less than 10% of Amortized Cost	(44)
Unrealized Losses greater than 12 months, Impairment is Between 10% and 20% of Amortized Cost	(752)
Unrealized Losses greater than 12 months, Impairment is Greater than 20% of Amortized Cost	(16)
Unrealized Losses greater than 12 months, Percent Investment Grade	100%
State and Political Subdivisions
Schedule Of Available For Sale Securities [Line Items]
Unrealized Losses 12 months or less, Total	(1,108)
Unrealized Losses 12 months or less, Impairment is Less than 10% of Amortized Cost	(948)
Unrealized Losses 12 months or less, Impairment is Between 10% and 20% of Amortized Cost	(160)
Unrealized Losses 12 months or less, Percent Investment Grade	100%
Unrealized Losses greater than 12 months, Total	(12,329)
Unrealized Losses greater than 12 months, Impairment is Less than 10% of Amortized Cost	(563)
Unrealized Losses greater than 12 months, Impairment is Between 10% and 20% of Amortized Cost	(1,822)
Unrealized Losses greater than 12 months, Impairment is Greater than 20% of Amortized Cost	(9,944)
Unrealized Losses greater than 12 months, Percent Investment Grade	100%
Corporate and Miscellaneous
Schedule Of Available For Sale Securities [Line Items]
Unrealized Losses 12 months or less, Total	(3,546)
Unrealized Losses 12 months or less, Impairment is Less than 10% of Amortized Cost	(1,607)
Unrealized Losses 12 months or less, Impairment is Between 10% and 20% of Amortized Cost	(960)
Unrealized Losses 12 months or less, Impairment is Greater than 20% of Amortized Cost	(979)
Unrealized Losses 12 months or less, Percent Investment Grade	84%
Unrealized Losses greater than 12 months, Total	(15,851)
Unrealized Losses greater than 12 months, Impairment is Less than 10% of Amortized Cost	(835)
Unrealized Losses greater than 12 months, Impairment is Between 10% and 20% of Amortized Cost	(3,348)
Unrealized Losses greater than 12 months, Impairment is Greater than 20% of Amortized Cost	(11,668)
Unrealized Losses greater than 12 months, Percent Investment Grade	87%
Foreign Government
Schedule Of Available For Sale Securities [Line Items]
Unrealized Losses 12 months or less, Total	(5)
Unrealized Losses 12 months or less, Impairment is Less than 10% of Amortized Cost	(5)
Unrealized Losses 12 months or less, Percent Investment Grade	100%
Residential Mortgage-backed
Schedule Of Available For Sale Securities [Line Items]
Unrealized Losses 12 months or less, Total	(69)
Unrealized Losses 12 months or less, Impairment is Less than 10% of Amortized Cost	(69)
Unrealized Losses 12 months or less, Percent Investment Grade	75%
Unrealized Losses greater than 12 months, Total	(616)
Unrealized Losses greater than 12 months, Impairment is Less than 10% of Amortized Cost	(56)
Unrealized Losses greater than 12 months, Impairment is Between 10% and 20% of Amortized Cost	(306)
Unrealized Losses greater than 12 months, Impairment is Greater than 20% of Amortized Cost	(254)
Unrealized Losses greater than 12 months, Percent Investment Grade	89%
Commercial Mortgage-backed
Schedule Of Available For Sale Securities [Line Items]
Unrealized Losses 12 months or less, Total	(61)
Unrealized Losses 12 months or less, Impairment is Less than 10% of Amortized Cost	(51)
Unrealized Losses 12 months or less, Impairment is Between 10% and 20% of Amortized Cost	(10)
Unrealized Losses 12 months or less, Percent Investment Grade	100%
Unrealized Losses greater than 12 months, Total	(2,091)
Unrealized Losses greater than 12 months, Impairment is Less than 10% of Amortized Cost	(487)
Unrealized Losses greater than 12 months, Impairment is Between 10% and 20% of Amortized Cost	(1,376)
Unrealized Losses greater than 12 months, Impairment is Greater than 20% of Amortized Cost	(228)
Unrealized Losses greater than 12 months, Percent Investment Grade	100%
Asset-backed
Schedule Of Available For Sale Securities [Line Items]
Unrealized Losses 12 months or less, Total	(417)
Unrealized Losses 12 months or less, Impairment is Less than 10% of Amortized Cost	(271)
Unrealized Losses 12 months or less, Impairment is Between 10% and 20% of Amortized Cost	(85)
Unrealized Losses 12 months or less, Impairment is Greater than 20% of Amortized Cost	(61)
Unrealized Losses 12 months or less, Percent Investment Grade	100%
Unrealized Losses greater than 12 months, Total	(2,365)
Unrealized Losses greater than 12 months, Impairment is Less than 10% of Amortized Cost	(789)
Unrealized Losses greater than 12 months, Impairment is Between 10% and 20% of Amortized Cost	(1,172)
Unrealized Losses greater than 12 months, Impairment is Greater than 20% of Amortized Cost	(404)
Unrealized Losses greater than 12 months, Percent Investment Grade	97%

Investments - Schedule of Gross

Investments - Schedule of Gross Unrealized Losses By Unrealized Loss Position and Credit Quality (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Debt Securities, Available-for-Sale [Line Items]
Total unrealized losses	$ 40,008	$ 35,867
Investment Grade
Debt Securities, Available-for-Sale [Line Items]
Fixed income securities with unrealized loss position less than or equal to 20% of amortized cost, net	15,251
Fixed income securities with unrealized loss position greater than 20% of amortized cost, net	23,704
Total unrealized losses	38,955
Below Investment Grade Fixed Income Securities
Debt Securities, Available-for-Sale [Line Items]
Fixed income securities with unrealized loss position less than or equal to 20% of amortized cost, net	604
Fixed income securities with unrealized loss position greater than 20% of amortized cost, net	449
Total unrealized losses	1,053
Fixed Income Securities
Debt Securities, Available-for-Sale [Line Items]
Fixed income securities with unrealized loss position less than or equal to 20% of amortized cost, net	15,855
Fixed income securities with unrealized loss position greater than 20% of amortized cost, net	24,153
Total unrealized losses	$ 40,008

Investments - Schedule of Gro_2

Investments - Schedule of Gross Unrealized Losses By Unrealized Loss Position and Credit Quality (Parenthetical) (Details) - Below Investment Grade Fixed Income Securities $ in Thousands	Sep. 30, 2023 USD ($)
Debt Securities, Available-for-Sale [Line Items]
Unrealized losses having loss of less than or equal to twenty percent	$ 150
Unrealized losses having loss of greater than twenty percent	$ 902

Policy Liabilities - Additional

Policy Liabilities - Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Liability For Future Policy Benefit By Product Segment [Line Items]
Percentage of participating life insurance in force	2.50%	3.90%
Structured Settlement Contract
Liability For Future Policy Benefit By Product Segment [Line Items]
Policy liability	$ 12,198	$ 13,118
Policy liability that are life contingent	9,499	10,097
Structured Settlement Annuity Deficiency
Liability For Future Policy Benefit By Product Segment [Line Items]
Policy liability	$ 0	$ 470

Reinsurance - Schedule of Reins

Reinsurance - Schedule of Reinsurance Recoverables (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Insurance [Abstract]
Ceded future policy benefits	$ 192,968	$ 173,904
Claims and other amounts recoverables	37,617	40,958
Ending balance	$ 230,585	$ 214,862

Reinsurance - Schedule of Recon

Reinsurance - Schedule of Reconciliation of Direct Premiums to Net Premiums (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Insurance [Abstract]
Direct premiums	$ 46,413	$ 44,740	$ 135,613	$ 131,792
Assumed premiums	8,960	10,838	27,493	35,512
Ceded premiums	(31,939)	(31,110)	(91,591)	(93,830)
Net insurance premiums	$ 23,434	$ 24,468	$ 71,515	$ 73,474

Reinsurance - Schedule of Rec_2

Reinsurance - Schedule of Reconciliation of Direct Life, Annuity, And Health Claim Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Insurance [Abstract]
Direct	$ 34,658	$ 36,963	$ 93,623	$ 105,673
Assumed	10,209	5,656	16,136	15,911
Ceded	(22,284)	(25,114)	(58,192)	(73,962)
Life, annuity, and health claim benefits	$ 22,583	$ 17,505	$ 51,567	$ 47,622

Reinsurance - Additional Inform

Reinsurance - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Jan. 01, 2022
Effects Of Reinsurance [Line Items]
Transaction to initial ceded premium						$ 6,500
Ceded reserve amount	$ 657		$ 657
Fixed-Rate Annuity | Policyholder Account Balances
Effects Of Reinsurance [Line Items]
Reserves related to fixed-rate annuity deposits	64,095		64,095		$ 69,070
Other Income
Effects Of Reinsurance [Line Items]
Net policy charges on universal life products	$ 41	$ 44	$ 135	$ 136

Closed Block - Additional Infor

Closed Block - Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2021	Oct. 31, 2011
Closed Block Disclosure [Abstract]
Assets transferred from closed block				$ 4,397
Additional closed block funding and accrued interest	$ 11,058	$ 10,792
Policyholder dividend obligation	$ 9,544	$ 9,515	$ 12,669

Closed Block - Schedule of Info

Closed Block - Schedule of Information Regarding Closed Block Liabilities (Assets) Designated to Closed Block (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Closed Block Liabilities
Future policy benefits and claims	$ 29,216	$ 29,382
Policyholder account balances	6,567	6,731
Other policyholder liabilities	3,436	5,298
Policyholder dividend obligation	9,544	9,515	$ 12,669
Other liabilities	38	586
Total Closed Block liabilities	48,801	51,512
Investments:
Fixed maturities - available-for-sale (amortized cost $41,673 and $40,522, respectively)	36,464	36,625
Policyholder loans	1,238	1,132
Total investments	37,702	37,757
Cash and Cash Equivalents	365
Premiums due and uncollected	382	1,852
Accrued investment income	490	457
Reinsurance recoverables	10,834	13,885
Deferred income tax assets, net	4,712	4,263
Total assets designated to the Closed Block	54,485	58,214
Excess of Closed Block assets over liabilities	5,684	6,702
Amounts included in accumulated other comprehensive income:
Unrealized investment loss (gains), net of income tax	(4,116)	(3,079)
Total amounts included in accumulated other comprehensive income	(4,116)	(3,079)
Maximum future earnings and accumulated other comprehensive income to be recognized from Closed Block assets and liabilities	$ (9,800)	$ (9,781)

Closed Block - Schedule of In_2

Closed Block - Schedule of Information Regarding Closed Block Liabilities (Assets) Designated to Closed Block (Parenthetical) (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Closed Block Disclosure [Abstract]
Fixed maturity securities available for sale amortized cost	$ 41,673	$ 40,522
Excess assets	$ 11,058	$ 10,792

Closed Block - Schedule of In_3

Closed Block - Schedule of Information Regarding Policyholder Dividend Obligations (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Policyholder Dividend Obligations
Beginning balance	$ 9,515	$ 12,669
Impact from earnings allocable to policyholder dividend obligations	29	(165)
Change in net unrealized investment gains (losses) allocated to policyholder dividend obligations		(2,989)
Ending balance	$ 9,544	$ 9,515

Closed Block - Schedule of In_4

Closed Block - Schedule of Information Regarding Closed Block Revenues and Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenues
Net insurance premiums	$ 769	$ 329	$ 3,351	$ 2,357
Net investment income	456	375	1,361	1,157
Net Realized Investment Gains (Losses)	5		8
Total revenues	1,230	704	4,720	3,514
Benefits and expenses
Life and annuity benefits - including policyholder dividends of $452, $498, $1,474 and $1,102, respectively	1,353	1,072	4,258	3,588
Interest credited to policyholder account balances	42	44	124	128
Operating costs and expenses	(38)	(356)	314	(482)
Total expenses	1,357	760	4,696	3,234
Revenues, net of expenses before provision for income tax expense (benefit)	(127)	(56)	24	280
Income tax expense (benefit)	(27)	(12)	5	59
Revenues, net of expenses and provision for income tax expense (benefit)	$ (100)	$ (44)	$ 19	$ 221

Closed Block - Schedule of In_5

Closed Block - Schedule of Information Regarding Closed Block Revenues and Expenses (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Closed Block Disclosure [Abstract]
Policyholders dividends	$ 452	$ 498	$ 1,474	$ 1,102

Closed Block - Schedule of Amor

Closed Block - Schedule of Amortized Cost and Fair Value of Closed Block Fixed Maturity Portfolio by Contractual Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Closed Block Disclosure [Abstract]
Amortized Cost, Due in one year or less	$ 1,100
Amortized Cost, Due after one year through five years	6,615
Amortized Cost, Due after five years through ten years	6,836
Amortized Cost, Due after ten years	23,683
Amortized Cost, Securities not due at a single maturity date - primarily mortgage and asset-backed	3,439
Amortized Cost, Total fixed maturities	41,673	$ 40,522
Fair Value, Due in one year or less	1,093
Fair Value, Due after one year through five years	6,482
Fair Value, Due after five years through ten years	6,374
Fair Value, Due after ten years	19,193
Fair Value, Securities not due at a single maturity date - primarily mortgage and asset-backed	3,322
Fair Value, Total fixed maturities	$ 36,464	$ 36,625

Assets and Liabilities Measur_3

Assets and Liabilities Measured at Fair Value - Summary of Assets Carried at Fair Value on Recurring and Non-recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Recurring fair value measurements
Fixed maturities	$ 295,524	$ 298,138
Fair Value, Measurements, Recurring
Recurring fair value measurements
Fixed maturities	295,524	298,138
Total recurring assets	295,524	298,138
Fair Value, Measurements, Recurring | Level 1
Recurring fair value measurements
Fixed maturities	2,231	2,847
Total recurring assets	2,231	2,847
Fair Value, Measurements, Recurring | Level 2
Recurring fair value measurements
Fixed maturities	262,951	264,726
Total recurring assets	262,951	264,726
Fair Value, Measurements, Recurring | Level 3
Recurring fair value measurements
Fixed maturities	30,342	30,565
Total recurring assets	30,342	30,565
U.S. Government and Agencies
Recurring fair value measurements
Fixed maturities	9,599	9,106
U.S. Government and Agencies | Fair Value, Measurements, Recurring
Recurring fair value measurements
Fixed maturities	9,599	9,106
U.S. Government and Agencies | Fair Value, Measurements, Recurring | Level 2
Recurring fair value measurements
Fixed maturities	9,599	9,106
U.S. Agency Mortgage-backed
Recurring fair value measurements
Fixed maturities	6,533	8,878
U.S. Agency Mortgage-backed | Fair Value, Measurements, Recurring
Recurring fair value measurements
Fixed maturities	6,533	8,878
U.S. Agency Mortgage-backed | Fair Value, Measurements, Recurring | Level 2
Recurring fair value measurements
Fixed maturities	6,533	8,878
State and Political Subdivisions
Recurring fair value measurements
Fixed maturities	63,339	56,224
State and Political Subdivisions | Fair Value, Measurements, Recurring
Recurring fair value measurements
Fixed maturities	63,339	56,224
State and Political Subdivisions | Fair Value, Measurements, Recurring | Level 2
Recurring fair value measurements
Fixed maturities	62,895	55,782
State and Political Subdivisions | Fair Value, Measurements, Recurring | Level 3
Recurring fair value measurements
Fixed maturities	444	442
Corporate and Miscellaneous
Recurring fair value measurements
Fixed maturities	155,803	156,481
Corporate and Miscellaneous | Fair Value, Measurements, Recurring
Recurring fair value measurements
Fixed maturities	155,803	156,481
Corporate and Miscellaneous | Fair Value, Measurements, Recurring | Level 1
Recurring fair value measurements
Fixed maturities	2,231	2,847
Corporate and Miscellaneous | Fair Value, Measurements, Recurring | Level 2
Recurring fair value measurements
Fixed maturities	127,012	126,644
Corporate and Miscellaneous | Fair Value, Measurements, Recurring | Level 3
Recurring fair value measurements
Fixed maturities	26,560	26,990
Foreign Government
Recurring fair value measurements
Fixed maturities	125	131
Foreign Government | Fair Value, Measurements, Recurring
Recurring fair value measurements
Fixed maturities	125	131
Foreign Government | Fair Value, Measurements, Recurring | Level 2
Recurring fair value measurements
Fixed maturities	125	131
Residential Mortgage-backed
Recurring fair value measurements
Fixed maturities	6,620	4,430
Residential Mortgage-backed | Fair Value, Measurements, Recurring
Recurring fair value measurements
Fixed maturities	6,620	4,430
Residential Mortgage-backed | Fair Value, Measurements, Recurring | Level 2
Recurring fair value measurements
Fixed maturities	6,620	4,430
Commercial Mortgage-backed
Recurring fair value measurements
Fixed maturities	19,655	19,462
Commercial Mortgage-backed | Fair Value, Measurements, Recurring
Recurring fair value measurements
Fixed maturities	19,655	19,462
Commercial Mortgage-backed | Fair Value, Measurements, Recurring | Level 2
Recurring fair value measurements
Fixed maturities	19,655	19,462
Asset-backed
Recurring fair value measurements
Fixed maturities	33,850	43,426
Asset-backed | Fair Value, Measurements, Recurring
Recurring fair value measurements
Fixed maturities	33,850	43,426
Asset-backed | Fair Value, Measurements, Recurring | Level 2
Recurring fair value measurements
Fixed maturities	30,512	40,293
Asset-backed | Fair Value, Measurements, Recurring | Level 3
Recurring fair value measurements
Fixed maturities	$ 3,338	$ 3,133

Assets and Liabilities Measur_4

Assets and Liabilities Measured at Fair Value - Summary of Changes in Fair Value of Level 3 Assets Held at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net Income (Loss)	Net Income (Loss)
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Asset, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration]	OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, after Tax	OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, after Tax
Fixed Maturities, Available-for-Sale | Level 3
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Financial Assets, Beginning Balance	$ 30,566	$ 28,076
Total gains (losses) included in: Net Income (loss)	92	(120)
Total gains (losses) included in: OCI	51	(779)
Purchases	2,594	5,105
Sales	(3,599)	(3,842)
Settlements		1,468
Net Transfers	638	658
Financial Assets, Ending Balance	30,342	30,566
State and Political Subdivisions | Fixed Maturities, Available-for-Sale | Level 3
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Financial Assets, Beginning Balance	442	498
Total gains (losses) included in: OCI	2	(56)
Financial Assets, Ending Balance	444	442
Corporate and Miscellaneous | Fixed Maturities, Available-for-Sale | Level 3
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Financial Assets, Beginning Balance	26,991	24,740
Total gains (losses) included in: Net Income (loss)	2	2
Total gains (losses) included in: OCI	(31)	(398)
Purchases	2,449	3,198
Sales	(2,989)	(2,582)
Settlements		1,468
Net Transfers	138	563
Financial Assets, Ending Balance	26,560	26,991
Asset-backed | Fixed Maturities, Available-for-Sale | Level 3
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Financial Assets, Beginning Balance	3,133	2,838
Total gains (losses) included in: Net Income (loss)	90	(122)
Total gains (losses) included in: OCI	80	(325)
Purchases	145	1,907
Sales	(610)	(1,260)
Net Transfers	500	95
Financial Assets, Ending Balance	$ 3,338	$ 3,133

Assets and Liabilities Measur_5

Assets and Liabilities Measured at Fair Value - Additional Information (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($) Investment	Dec. 31, 2022 USD ($) Investment
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Number of investments transferred from level 3 to level 2 | Investment	4	2
Number of investments transferred from level 2 to 3 | Investment	5	6
Mortgage loans | $	$ 42,005	$ 45,270
Second and Mezzanine Mortgages
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Mortgage loans | $	$ 974	$ 1,952

Assets and Liabilities Measur_6

Assets and Liabilities Measured at Fair Value - Summary of Carrying Amount and Estimated Fair Values of Financial Instruments not Measured at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Carrying Value
Financial instruments recorded as assets:
Mortgage loans	$ 42,005	$ 45,270
Policyholder loans	7,062	6,699
Financial instruments recorded as liabilities:
Future policy benefits, excluding term life reserves	15,776	16,555
Long/short-term debt	46,483	37,189
Policyholder account balances	72,245	77,443
Estimated Fair Value
Financial instruments recorded as assets:
Mortgage loans	38,074	41,622
Policyholder loans	8,136	7,722
Financial instruments recorded as liabilities:
Future policy benefits, excluding term life reserves	14,511	15,192
Long/short-term debt	47,762	36,763
Policyholder account balances	65,459	70,157
Estimated Fair Value | Level 3
Financial instruments recorded as assets:
Mortgage loans	38,074	41,622
Policyholder loans	8,136	7,722
Financial instruments recorded as liabilities:
Future policy benefits, excluding term life reserves	14,511	15,192
Long/short-term debt	47,762	36,763
Policyholder account balances	$ 65,459	$ 70,157

Long and Short-Term Debt - Addi

Long and Short-Term Debt - Additional Information (Details) - USD ($)	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Minimum aggregate amount advanced under arrangement	$ 46,000,000
Net advance from external party	38,618,000	$ 31,100,000
Federal Home Loan Bank of Chicago
Debt Instrument [Line Items]
Pledged assets	0	0
Outstanding borrowings	0	0
Federal Home Loan Bank of Chicago | Other Invested Assets
Debt Instrument [Line Items]
Common stock held	$ 270,000	$ 180,000

Long and Short-Term Debt - Sche

Long and Short-Term Debt - Schedule of Long Term and Short Term Debt Pay Back (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Debt Disclosure [Abstract]
Due in one year or less	$ 9,172
Due after one year through two years	6,328
Due after two years through three years	5,891
Due after three years through four years	5,493
Due after four years through five years	5,014
Due after five years	38,411
Less discount	(23,826)
Total long/short-term debt	$ 46,483

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive (Loss) Income - Changes in Accumulated Other Comprehensive (Loss) Income, Net of Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Accumulated Other Comprehensive Income Loss [Line Items]
Balance – beginning of period			$ 111,343
Other comprehensive income (loss)
Unrealized holding (losses) gains from changes in the market value of securities	$ (10,166)	$ (15,424)	(5,268)	$ (60,944)
Impact on policy benefit liabilities of changes in market value of securities	340	1,545	469	6,065
Change in net unrealized investment (losses) gains on allocated to policyholder dividend obligations				2,989
Deferred income tax (expense) benefit	1,744	2,915	843	10,897
Total other comprehensive (loss) income	(8,082)	(10,964)	(3,956)	(40,993)
Balance – end of period	99,323	118,815	99,323	118,815
Net Unrealized Gains (Losses) on Investments with Credit Losses
Accumulated Other Comprehensive Income Loss [Line Items]
Balance – beginning of period			362	362
Other comprehensive income (loss)
Balance – end of period	362	362	362	362
Net Unrealized Gains (Losses) on Other Investments
Accumulated Other Comprehensive Income Loss [Line Items]
Balance – beginning of period			(30,534)	10,567
Other comprehensive income (loss)
Unrealized holding (losses) gains from changes in the market value of securities	(10,166)	(15,424)	(5,268)	(60,944)
Impact on policy benefit liabilities of changes in market value of securities	340	1,545	469	6,065
Change in net unrealized investment (losses) gains on allocated to policyholder dividend obligations				2,989
Deferred income tax (expense) benefit	1,744	2,915	843	10,897
Total other comprehensive (loss) income	(8,082)	(10,964)	(3,956)	(40,993)
Balance – end of period	(34,490)	(30,426)	(34,490)	(30,426)
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive Income Loss [Line Items]
Balance – beginning of period	(26,046)	(19,100)	(30,172)	10,929
Other comprehensive income (loss)
Balance – end of period	$ (34,128)	$ (30,064)	$ (34,128)	$ (30,064)

Business Segments - Additional

Business Segments - Additional Information (Details)	9 Months Ended
	Sep. 30, 2023 Segment
Segment Reporting [Abstract]
Number of reportable segments	3

Business Segments - Schedule of

Business Segments - Schedule of Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2023		Sep. 30, 2022		Sep. 30, 2023		Sep. 30, 2022		Dec. 31, 2022
Segment Reporting Information [Line Items]
Net insurance premiums	$ 23,434		$ 24,468		$ 71,515		$ 73,474
Net investment income	4,010		4,126		12,846		11,390
Net (losses) gains on investments	(883)	[1]	(1,570)	[1]	(1,759)	[2]	89	[2]
Earned commissions	15,354		11,267		45,535		32,792
Other income	1,746		1,403		4,883		4,192
Total revenues	43,661		39,694		133,020		121,937
Life, annuity, and health claim benefits	23,210		18,151		53,567		49,722
Operating costs and expenses	26,755		23,133		78,239		72,859
Amortization of deferred policy acquisition costs	3,283		4,086		9,913		13,237
Total benefits and expenses	53,248		45,370		141,719		135,818
Income (loss) before income tax	(9,587)		(5,676)		(8,699)		(13,881)
Investments and cash	355,019				355,019				$ 363,576
Commissions and agent balances	50,415				50,415				34,766
Deferred policy acquisition costs	88,171				88,171				90,189
Intangible assets	1,635				1,635				1,635
Reinsurance recoverables	230,585				230,585				214,862
Deferred income tax assets, net	32,003				32,003				28,437
Other	38,357				38,357				36,613
Total assets	796,185				796,185				770,078
Operating Segments | Insurance
Segment Reporting Information [Line Items]
Net insurance premiums	23,434		24,468		71,515		73,474
Net investment income	3,931		3,927		12,618		10,982
Net (losses) gains on investments	(883)	[1]	(1,100)	[1]	(1,395)	[2]	(267)	[2]
Other income	274		144		804		419
Total revenues	26,756		27,439		83,542		84,608
Life, annuity, and health claim benefits	23,210		18,151		53,567		49,722
Operating costs and expenses	7,914		7,957		23,843		25,143
Amortization of deferred policy acquisition costs	3,283		4,086		9,913		13,237
Total benefits and expenses	34,407		30,194		87,323		88,102
Income (loss) before income tax	(7,651)		(2,755)		(3,781)		(3,494)
Investments and cash	351,240				351,240				358,620
Commissions and agent balances	8,550				8,550				4,751
Deferred policy acquisition costs	88,171				88,171				90,189
Reinsurance recoverables	230,585				230,585				214,862
Deferred income tax assets, net	18,361				18,361				13,489
Other	28,635				28,635				26,800
Total assets	725,542				725,542				708,711
Operating Segments | Agency
Segment Reporting Information [Line Items]
Earned commissions	15,354		11,379		45,880		33,105
Other income	1,472		1,259		4,079		3,773
Total revenues	16,826		12,638		49,959		36,878
Operating costs and expenses	16,564		14,110		48,636		42,573
Total benefits and expenses	16,564		14,110		48,636		42,573
Income (loss) before income tax	262		(1,472)		1,323		(5,695)
Investments and cash	800				800				1,094
Commissions and agent balances	41,865				41,865				30,015
Intangible assets	1,635				1,635				1,635
Other	9,068				9,068				5,869
Total assets	53,368				53,368				38,613
Operating Segments | Corporate & Other
Segment Reporting Information [Line Items]
Net investment income	79		199		228		408
Net (losses) gains on investments			(470)	[1]	(364)	[2]	356	[2]
Earned commissions			(112)		(345)		(313)
Total revenues	79		(383)		(481)		451
Operating costs and expenses	2,277		1,066		5,760		5,143
Total benefits and expenses	2,277		1,066		5,760		5,143
Income (loss) before income tax	(2,198)		$ (1,449)		(6,241)		$ (4,692)
Investments and cash	2,979				2,979				3,862
Deferred income tax assets, net	13,642				13,642				14,948
Other	654				654				3,944
Total assets	$ 17,275				$ 17,275				$ 22,754
[1] Due to the adoption of the measurement of credit losses on financial instruments accounting standard, items previously reported as OTTI, are now included in net (losses) gains on investments. Due to the adoption of the measurement of credit losses on financial instruments accounting standard, items previously reported as OTTI, are now included in net (losses) gains on investments.