Federal Life (FLFG) 10-Q 20 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 20, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Trading Symbol	FLFG
Entity Registrant Name	Federal Life Group, Inc.
Entity Central Index Key	0001743886
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		3,530,250

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Investments:
Fixed maturity securities available for sale, at fair value (amortized cost: 2019, $192,573; 2018, $187,035)	$ 195,753	$ 184,475
Equity securities, at fair value	3,806	6,004
Policy loans	9,488	9,581
Other invested assets	536	202
Total investments	209,583	200,262
Cash and cash equivalents	29,842	33,252
Real estate, property and equipment, net	2,093	2,130
Accrued investment income	2,069	1,908
Accounts receivable	527	498
Reinsurance recoverables	3,521	3,556
Prepaid reinsurance premiums	1,467	1,418
Deferred policy acquisition costs, net	12,832	13,533
Deferred sales inducement costs, net	1,415	1,348
Deferred tax asset, net		492
Other assets	608	511
Separate account asset	22,922	20,819
Total Assets	286,879	279,727
Policy liabilities and accruals
Policyholder account balance	117,995	116,298
Future life policy benefits	71,444	71,992
Future accident and health policy benefits	355	345
Reserve for deposit type contracts	10,504	10,587
Other policyholder funds	998	1,398
Unearned revenue	1,342	1,367
Deferred reinsurance settlements	2,563	2,641
Deferred tax liability, net	79
Other liabilities	1,513	1,360
Separate account liability	22,922	20,819
Total Liabilities	229,715	226,807
Equity
Common stock, par value $.01 per share, 4,010,250 shares authorized; issued and outstanding: 2019 - 3,530,250 2018 - 3,530,150	35	35
Additional paid-in capital	33,110	33,076
Retained earnings	22,796	21,774
Accumulated other comprehensive income (loss)	1,223	(1,965)
Total Equity	57,164	52,920
Total Liabilities and Equity	$ 286,879	$ 279,727

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Amortized cost	$ 192,573	$ 187,035
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	4,010,250	4,010,250
Common stock, shares issued	3,530,250	3,530,150
Common stock, shares outstanding	3,530,250	3,530,150

Consolidated Statement of Opera

Consolidated Statement of Operations and Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues
Insurance revenues	$ 2,120	$ 2,744
Net investment income	2,201	2,107
Net investment gains	574	90
Other revenues	26	49
Total Revenues	4,921	4,990
Benefits and expenses
Policyholder benefits	1,954	3,095
Interest credit to policyholders	70	(48)
Operating costs and expenses	2,459	2,241
Amortization of deferred acquisition and sales inducement costs	371	374
Taxes, licenses and fees	189	197
Dividends to policyholders	18	18
Total Benefits and Expenses	5,061	5,877
Net loss before taxes	(140)	(887)
Tax expense (benefit)	(2)	3
Net loss	(138)	(890)
Other Comprehensive Income (Loss), net of tax:
Unrealized holding gains (losses) arising during the period (net of tax)	4,997	(4,847)
Adjustment to deferred acquisition costs (net of tax)	(649)	582
Other Comprehensive Income (Loss)	4,348	(4,265)
Comprehensive Gain (Loss)	$ 4,210	$ (5,155)
Basic loss per common share	$ (0.04)	$ (0.25)
Diluted loss per common share	$ (0.04)	$ (0.25)

Consolidated Statement of Chang

Consolidated Statement of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)		Retained Earnings
Balance at Dec. 31, 2017	$ 31,357			$ 4,757		$ 26,600
Net loss for the period	(890)					(890)
Other comprehensive income (loss)	(4,265)			(4,265)
Balance at Mar. 31, 2018	26,202			492		25,710
Balance at Dec. 31, 2018	52,920	$ 35	$ 33,076	(1,965)		21,774
Beginning Balance, shares at Dec. 31, 2018		3,530,150
Net loss for the period	(138)					(138)
Paid in capital	34		34
Paid in capital, shares		100
Cumulative net effect of adoption of new accounting principle at Mar. 31, 2019				(1,160)	[1]	1,160
Other comprehensive income (loss)	4,348			4,348
Balance at Mar. 31, 2019	$ 57,164	$ 35	$ 33,110	$ 1,223		$ 22,796
Ending Balance, shares at Mar. 31, 2019		3,530,250
[1]	This amount is the net effect of adopting ASU No. 2016-01 as discussed in Note 3.

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net loss	$ (138)	$ (890)
Adjustments to reconcile net loss to net cash used in operating activities:
Investment gains, net	(574)	(90)
Amortization on investments	(11)	(21)
Depreciation	47	68
Stock-based compensation	145	0
Deferred insurance acquisition costs	(482)	(506)
Deferred sales inducement costs	(76)	(99)
Interest and amortization of deferred acquisition and sales inducement costs	371	374
Change in value of derivatives and other	(314)	101
Change in accrued investment income	(162)	(25)
Change in receivables	(29)	(654)
Change in reinsurance recoverable	35	75
Change in prepaid reinsurance premiums	(49)	(46)
Change in policy benefits	(937)	(146)
Change in unearned revenue	(25)	(36)
Change in deferred reinsurance settlements	(77)	(75)
Change in other	(57)	45
Net cash used in operating activities	(2,333)	(1,925)
Proceeds from investments sold or matured:
Fixed maturity securities	3,768	5,614
Equity securities	2,827	0
Derivatives	77	128
Policy loans	94	102
Costs of investments purchased:
Fixed maturity securities	(9,286)	(6,093)
Equity securities	(35)	0
Derivatives	(127)	(111)
Real estate additions	(1)	(19)
Purchase of property and equipment	(9)	(24)
Net cash used in investing activities	(2,692)	(403)
Policyholder account balances:
Deposits	3,321	4,459
Withdrawals	(1,707)	(2,417)
Net proceeds received from issuance of shares of common stock	1	0
Net cash provided by financing activities	1,615	2,042
Net decrease in cash	(3,410)	(286)
Cash, beginning of period	33,252	4,085
Cash, end of period	29,842	3,799
Supplemental non-cash activity:
Deferral of sales inducements	$ 76	$ 99

Organization and Basis of Prese

Organization and Basis of Presentation	3 Months Ended
	Mar. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Basis of Presentation	1. Federal Life Group, Inc. (“FLG”, “we”, “us”, “our” or the “Company”) is a Pennsylvania corporation organized to be the stock holding company for Federal Life Mutual Holding Company and its subsidiaries (the “Predecessor”) following the 2018 conversion of Federal Life Mutual Holding Company from mutual to stock form (the “Conversion”). Federal Life Mutual Holding Company was subsequently renamed Federal Life Holding Company after the Conversion. Prior to the Conversion, FLG was not engaged in any significant operations and did not have any assets or liabilities. After the Conversion, which was completed on December 11, 2018, when FLG issued 3,530,150 shares at $10.00 per share for gross proceeds of $35.3 million, FLG’s primary assets are the outstanding capital stock of the Predecessor and a portion of the net proceeds of the Company’s initial public offering (“IPO”), which was completed on December 11, 2018. Prior to the Conversion, FLG was a direct, wholly-owned subsidiary of the Predecessor. Following the Conversion, the Company reorganized its corporate structure so that the Predecessor is a direct, wholly owned subsidiary of FLG. FLG now contains the accounts of its Predecessor and those accounts are now consolidated with those of FLG within the accompanying financial statements. The reorganization is considered a transaction between entities that are under common control. As a result, the consolidated financial statements prior to the IPO and the reorganization have been presented at their historical amounts. The accompanying consolidated financial statements include the accounts of FLG and its subsidiaries, Federal Life Holding Company; FEDHO Holding Company (“FEDHO”); Federal Life Insurance Company (“Federal Life”); FED Mutual Financial Services, Inc. (“FED Mutual”); and Americana Realty Company (“Americana”). Additionally, the IPO described above resulted in a change in control according to Business Combinations (Topic 805), however, the Company elected not to apply push down accounting. Accordingly, the consolidated financial statements are presented at the Company’s historical carrying amounts. All intercompany transactions and balances have been eliminated in consolidation. Federal Life, a subsidiary of Federal Life Holding Company, completed a reorganization in 2016 in which it converted from a mutual to a stock insurance company within a newly created mutual holding company structure. As part of this reorganization, Federal Life Mutual Holding Company was formed as an Illinois mutual insurance holding company and Federal Life continued its existence as an Illinois stock life insurance company. All of the shares of Federal Life were issued to FEDHO, an intermediate holding company that, in turn, is a wholly-owned subsidiary of the Federal Life Holding Company. Federal Life has two wholly-owned non-insurance subsidiaries, Americana and FED Mutual, discussed further below. Federal Life’s in force business is primarily comprised of traditional life policies (term insurance, whole life insurance, non-medical health insurance, and group life insurance), interest sensitive contracts, and fixed deferred annuity contracts. Federal Life primarily sells its interest sensitive life, whole life, term life, fixed and indexed annuities through a network of independent agents. Federal Life is licensed to sell new business in the District of Columbia and all states except Maine, Massachusetts, New Hampshire, New York and Vermont. Although Federal Life is licensed to sell products in 45 states, its primary markets are Illinois, Michigan, Ohio, California, Florida, Texas, and Wisconsin. Americana owns mineral rights in Arkansas, Georgia, Oklahoma and Texas. Americana earns royalty revenues from energy producers that are under agreement to drill for and produce oil and gas products on properties where Americana owns mineral rights. FED Mutual is a FINRA licensed broker/dealer that was established to distribute Federal Life’s variable annuity products. The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and the instructions for Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all the information and notes required by GAAP for complete financial statements. The consolidated financial statements reflect all adjustments, consisting only of normal recurring items, which are necessary to present fairly our financial position and results of operations on a basis consistent with the prior audited consolidated financial statements. Operating results for the three month period ended March 31, 2019 are not necessarily indicative of the results that may be expected for the year ended December 31, 2019. The December 31, 2018 consolidated balance sheet data was derived from audited consolidated financial statements for the year ended December 31, 2018, which include all disclosures required by GAAP. For further information related to a description of areas of judgement and estimates and other information necessary to understand our financial position and results of operations, refer to the audited consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2018 (the “2018 10-K”). Investor Information Investor related information, including periodic reports filed on Forms 10-K, 10-Q and 8-K and any amendments may be found on our website at ir.federallife.com as soon as reasonably practicable after such reports are filed with the SEC. In addition, we have available on our website our: (i) compliance reporting policy; (ii) code of ethics; (iii) audit committee charter; (iv) compensation committee charter and (v) nominating committee charter. The information incorporated herein by reference is also electronically accessible from the SEC's website at www.sec.gov

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to adopt accounting policies and make estimates and assumptions that affect amounts reported in the consolidated financial statements. The most significant estimates include those used in determining the capitalization and amortization of deferred policy acquisition costs (“DAC”), the valuation of investments, future policy benefits (traditional life contracts, immediate annuities, supplemental contracts with life contingencies, and accident and health), the fair value of stock-based compensation awards, and the provision for income taxes. Actual results could differ from those estimates. Emerging Growth Company The Company qualifies as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012 (the “Jobs Act”). As an emerging growth company, the Company utilizes the extended transition period provided in the Securities Act of 1933 for complying with new or revised accounting standards. Under this accommodation, the Company may early adopt a new or revised accounting standard only if early adoption is permitted by the standard. Changes in accounting principles issued but not yet adopted described below reflect the Company’s status as an Emerging Growth Company and the extended adoption period allowed for such companies. Smaller Reporting Company Additionally, the Company qualifies as a “smaller reporting company” as defined by Item 10(f)(1) of Regulation S-K. In some instances, this permits the Company to provide scaled disclosures under Regulation S-K and Regulation S-X. Investments Realized capital gains and losses on sales of investments include fixed maturity securities with calls and prepayments and are determined on the basis of specific security identification. Equity securities are carried at fair value. Beginning with the adoption of Accounting Standards Update (“ASU”) No. 2016-01 on January 1, 2019, changes in the fair value of equity securities are recognized through net income. Prior to January 1, 2019, unrealized gains or losses were recorded in accumulated other comprehensive income (loss) (“AOCI”). Additionally, in connection with the adoption of ASU No. 2016-01, effective January 1, 2019, the Company has reclassified its investment in Federal Home Loan Bank (“FHLB”) common stock from equity securities to other invested assets. These investments are carried at redemption value. The carrying value of these investments at December 31, 2018 was $10,000.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2019
Accounting Changes And Error Corrections [Abstract]
Recent Accounting Pronouncements	3. Adopted Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2016-09, “Compensation - Stock Compensation”: Improvements to Employee Shared-Based Payment Accounting. The aspects of accounting guidance affected by this ASU are income taxes, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This ASU was effective for annual reporting periods beginning after December 15, 2017. The Company adopted this ASU in the fourth quarter of fiscal 2018 upon the issuance of restricted stock and stock options to our employees. The adoption of the ASU did not have an impact on our financial statements as we did not previously have stock compensation. The Company has elected to account for forfeitures when they occur. In February 2018, the FASB issued ASU No. 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income,” which provides an option to reclassify stranded tax effects within AOCI to retained earnings in each period in which the effect of the change in the U.S. federal corporate income tax rate described in the “Income Tax Reform” section below is recorded. ASU No. 2018-02 is effective for fiscal years beginning after December 15, 2018 and should be applied either in the period of adoption or retrospectively to each period in which the effect of the change in the Tax Act is recognized. The Company early adopted ASU No. 2018-02 effective December 31, 2017 using the portfolio method, which resulted in the reclassification of $805,000 of stranded tax effects from AOCI to retained earnings within the Company’s consolidated financial statements. In May 2014, the FASB issued an ASU 2014-09 “Revenue from Contracts with Customers,” related to revenue arising from contracts with customers. This ASU, which replaces most current revenue recognition guidance, including industry specific guidance, prescribes that an entity should recognize revenue to reflect the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. We adopted this ASU on January 1, 2019. The adoption of this ASU had no impact on our consolidated financial statements as revenues related to insurance contracts and investment contracts are excluded from its scope. In January 2016, the FASB issued ASU No. 2016-01 “Financial Instruments – Overall: Recognition and Measurement of Financial Assets and Financial Liabilities,” which revises an entity’s accounting related to the classification and measurement of certain equity investments and the presentation of certain fair value changes for financial liabilities measured at fair value. The guidance also amends certain disclosure requirements associated with the fair value of financial instruments. ASU No. 2016-01 is effective for non-public companies for annual periods beginning after December 15, 2018. We adopted this guidance effective January 1, 2019 with no material impact to our consolidated financial statements. Changes in fair value of equity securities, previously recognized through other comprehensive income (loss), are now recognized in net investment gains. We also recorded a cumulative effect adjustment to increase retained earnings by $1,160,000, net of tax, as of January 1, 2019 for unrealized gains previously recognized in AOCI. For additional information, please see Note 7. Issued Accounting Pronouncements Not Yet Adopted In February 2016, the FASB issued ASU No. 2016-02 “Leases”, that will require recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements, This ASU affects accounting and disclosure more dramatically for lessees as accounting for lessors is mainly unchanged. This ASU is effective January 1, 2020. At this time, we do not believe the adoption of ASU No. 2016-02 will have an impact on the Company’s consolidated financial statements, as we do not have any material leases. In August 2018, the FASB issued ASU No. 2018-12, “Targeted Improvements to the Accounting for Long-Duration Contracts,” which revises certain aspects of the measurement models and disclosure requirements for long duration insurance and investment contracts. The FASB’s objective in issuing this ASU is to improve, simplify, and enhance the accounting for long-duration contracts. The revisions include updating cash flow assumptions in the calculation of the liability for traditional life products, introducing the term ‘market risk benefit’ (“MRB”) and requiring all contract features meeting the definition of an MRB to be measured at fair value, simplifying the method used to amortize DAC and deferred sales inducement costs (“DSIC”) to a constant basis over the expected term of the related contracts rather than based on gross profits and enhancing disclosure requirements. ASU is effective on January 1, 2022, the transition date (the remeasurement date) is January 1, 2020. Early adoption of this ASU is permitted. The Company is currently assessing the impact of the guidance on its consolidated financial statements. In August 2017, the FASB issued ASU No. 2017-12, “Derivatives and Hedging – Targeted Improvements to Accounting for Hedging Activities,” which changes the recognition and presentation requirements of hedge accounting. ASU No. 2017-12 is effective for annual periods beginning after December 15, 2019. Early adoption is permitted. The adoption of ASU No. 2017- 12 is not expected to have a material impact on the Company’s consolidated financial statements. In March 2017, the FASB issued ASU No. 2017-08, “Receivables – Nonrefundable Fees and Other Costs: Premium Amortization of Purchased Callable Debt Securities,” which requires that certain premiums on callable debt securities be amortized to the earliest call date. ASU No. 2017-08 is effective for annual periods beginning after December 15, 2019. Early adoption is permitted. The adoption of ASU No. 2017-08 is not expected to have a material impact on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13 “Financial Instruments – Credit Losses: Measurement of Credit Losses of Financial Instruments,” which provides a new current expected credit loss model to account for credit losses on certain financial assets and off-balance sheet exposure. The model requires an entity to estimate lifetime credit losses related to such assets and exposure based on relevant information about past events, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. The guidance also modifies the current other-than- temporary impairment guidance for available-for-sale debt securities to require the use of an allowance rather than a direct write down of the investment and replaces existing guidance for purchased credit deteriorated loans and debt securities. ASU No. 2016-13 is effective for annual reporting periods beginning after December 15, 2020 with early adoption permitted for annual periods beginning after December 15, 2018. The Company is currently assessing the impact of the guidance on its consolidated financial statements.

Investments and Related Income

Investments and Related Income	3 Months Ended
	Mar. 31, 2019
Investments Debt And Equity Securities [Abstract]
Investments	The Company’s principal investments are in fixed income securities, equity securities, and policy loans. The following table presents the amortized cost, gross unrealized gains (losses) and fair value of the Company’s fixed maturity securities as of March 31, 2019 and December 31, 2018. Equity securities were removed from this table upon adoption of ASU No. 2016-01 at January 1, 2019. March 31, 2019 Amortized Gross Unrealized Fair Cost Gains Losses Value (Dollars in thousands) U.S. government $ 4,060 $ 136 $ (92 ) $ 4,104 States, political subdivisions, other 33,699 778 (90 ) 34,387 Corporate 109,523 2,211 (749 ) 110,985 Residential mortgage-backed securities 39,703 990 (92 ) 40,601 Commercial mortgage-backed securities 5,588 137 (49 ) 5,676 Total fixed maturity securities $ 192,573 $ 4,252 $ (1,072 ) $ 195,753 December 31, 2018 Amortized Gross Unrealized Fair Cost Gains Losses Value (Dollars in thousands) U.S. government $ 4,063 $ 142 $ (148 ) $ 4,057 States, political subdivisions, other 30,881 472 (364 ) 30,989 Corporate 108,664 617 (2,995 ) 106,286 Residential mortgage-backed securities 37,755 455 (688 ) 37,522 Commercial mortgage-backed securities 5,672 73 (124 ) 5,621 Total fixed maturity securities 187,035 1,759 (4,319 ) 184,475 Equity securities 4,514 1,528 (38 ) 6,004 Total fixed maturity and equity securities $ 191,549 $ 3,287 $ (4,357 ) $ 190,479 The scheduled maturities for fixed income securities as of March 31, 2019 and December 31, 2018 are as follows: March 31, 2019 December 31, 2018 Amortized Fair Amortized Fair Cost Value Cost Value (Dollars in thousands) Due in one year or less $ 6,699 $ 6,795 $ 5,998 $ 6,041 Due after one year through five years 34,683 35,506 37,917 38,032 Due after five years through ten years 77,014 77,945 74,274 72,209 Due after ten years 28,886 29,230 25,419 25,050 Mortgage-backed securities 45,291 46,277 43,427 43,143 Total $ 192,573 $ 195,753 $ 187,035 $ 184,475 Actual maturities may differ from those scheduled as a result of prepayments by the issuers. Because of the potential for prepayment on mortgage-backed securities, they are not categorized by contractual maturity. The following table presents the sources of investment proceeds and the related gross realized investment gains (losses) for the three month periods ended March 31, 2019 and March 31, 2018, respectively: Three Months Ended March 31, 2019 Fixed Equity Derivative Maturities Securities Instruments (Dollars in thousands) Proceeds from sales or maturities $ 3,768 $ 2,827 $ 77 Gross gains from sales or maturities 11 715 107 Gross losses from sales or maturities (2 ) (12 ) (140 ) Three Months Ended March 31, 2018 Fixed Equity Derivative Maturities Securities Instruments (Dollars in thousands) Proceeds from sales or maturities $ 5,614 $ – $ 128 Gross gains from sales or maturities 48 – 226 Gross losses from sales or maturities (33 ) – (151 ) For the three month period ended March 31, 2019, the Company also recognized $105,000 of unrealized losses on equity securities in net investment gains in accordance with the adoption of ASU 2016-01. For the three month periods ended March 31, 2019 and March 31, 2018 the Company did not recognize any impairment losses. The Company has a comprehensive portfolio monitoring process to identify and evaluate each fixed income and equity security whose carrying value may be other-than-temporarily impaired. For each fixed income security in an unrealized loss position, the Company assesses whether management with the appropriate authority has made a decision to sell or whether it is probable that 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 any of these criteria, the security’s decline in fair value is deemed other than temporary and is recorded in earnings. If the Company has not made the decision to sell the fixed income security and it is not more likely than not that the Company will be required to sell the fixed income security before recovery of its amortized cost basis, the Company evaluates if it expects to receive cash flows sufficient to recover the entire amortized cost basis of the security by comparing the estimated recovery value calculated by discounting the best estimate of future cash flows at the security’s original or current effective rate, as appropriate, with the amortized cost of the security. If the Company does not expect to receive cash flows sufficient to recover the entire amortized cost basis of the fixed income security, the credit loss component of the impairment is recorded in earnings, with the remaining amount of the unrealized loss deemed to be related to other factors and recognized in AOCI. The Company’s portfolio monitoring process includes a quarterly review of all securities through a screening process which identifies instances where the fair value compared to amortized cost for fixed income securities and cost for equity securities is below established thresholds, and also includes the monitoring of other criteria such as ratings, ratings downgrades or payment defaults. The securities identified, in addition to other securities for which the Company may have a concern, are evaluated for potential other-than-temporary impairment using all reasonably available information relevant to the collectability or recovery of the security. Inherent in the Company’s evaluation of other-than-temporary impairment for these fixed income and equity securities are assumptions and estimates about the financial condition of the issue or issuer and its future earnings potential. Some of the factors considered in evaluating whether a decline in fair value is other than temporary are: 1) the length of time and extent to which the fair value has been less than amortized cost for fixed income securities, or cost for equity securities; 2) the financial condition, near-term and long-term prospects of the issue or issuer, including relevant industry specific market conditions and trends, geographic location and implications of rating agency actions and offering prices; and 3) the specific reasons that a security is in a significant unrealized loss position, including overall market conditions which could affect liquidity. The following table shows the fair value and gross unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2019 and December 31, 2018. Equity securities were removed from this table upon adoption of ASU No. 2016-01 at January 1, 2019. March 31, 2019 Less than 12 months 12 months or longer Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Description of securities Value Loss Value Loss Value Loss (Dollars in thousands) U.S. government $ – $ – $ 2,960 $ (92 ) $ 2,960 $ (92 ) States, political subdivisions, other 3,045 (8 ) 5,619 (82 ) 8,664 (90 ) Corporate 4,990 (46 ) 25,724 (703 ) 30,714 (749 ) Residential mortgage-backed securities – – 10,164 (92 ) 10,164 (92 ) Commercial mortgage-backed securities 50 (2 ) 2,474 (47 ) 2,524 (49 ) Total $ 8,085 $ (56 ) $ 46,941 $ (1,016 ) $ 55,026 $ (1,072 ) December 31, 2018 Less than 12 months 12 months or longer Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Description of securities Value Loss Value Loss Value Loss (Dollars in thousands) U.S. government $ – $ – $ 2,907 $ (148 ) $ 2,907 $ (148 ) States, political subdivisions, other 6,106 (103 ) 9,339 (261 ) 15,445 (364 ) Corporate 49,193 (1,886 ) 14,228 (1,109 ) 63,421 (2,995 ) Residential mortgage-backed securities 9,401 (158 ) 13,065 (530 ) 22,466 (688 ) Commercial mortgage-backed securities 2,003 (45 ) 1,502 (79 ) 3,505 (124 ) Equity securities 379 (38 ) – – 379 (38 ) Total $ 67,082 $ (2,230 ) $ 41,041 $ (2,127 ) $ 108,123 $ (4,357 ) It is not more likely than not that the Company will be required to sell these investments before recovery of their amortized cost bases, which may be maturity. Net Investment Income Net investment income for the three month periods ended March 31, 2019 and March 31, 2018, respectively, is as follows: Three Months Ended March 31, 2019 2018 (Dollars in thousands) Fixed maturity securities $ 1,835 $ 1,869 Equity securities 31 37 Real estate 26 37 Cash equivalents 153 8 Policy loans 174 176 Other 128 140 Subtotal 2,347 2,267 Investment expense (146 ) (160 ) Net investment income $ 2,201 $ 2,107 Unrealized Capital Gains (Losses) The following table shows the unrealized net capital gains and losses included in AOCI at March 31, 2019 and December 31, 2018. Equity securities were removed from this table upon adoption of ASU No. 2016-01 at January 1, 2019. March 31, 2019 Net Fair Gross Unrealized Unrealized Value Gains Losses Gain (Loss) (Dollars in thousands) Fixed income securities $ 195,753 $ 4,252 $ (1,072 ) $ 3,180 Net unrealized capital gains $ 3,180 December 31, 2018 Net Fair Gross Unrealized Unrealized Value Gains Losses Gain (Loss) (Dollars in thousands) Fixed income securities $ 184,475 $ 1,759 $ (4,319 ) $ (2,560 ) Equity securities 6,004 1,528 (38 ) 1,490 Net unrealized capital gains $ (1,070 ) At March 31, 2019 and December 31, 2018, securities with a market value of approximately $4.6 million and $4.5 million, respectively, were on deposit with governmental agencies as required by State Insurance Departments. Credit Risk The Company generally strives to maintain a diversified invested asset portfolio but is exposed to credit and other types of risks related to its holding in fixed income and equity securities. Such risk may be related to individual companies, sectors, or entire asset classes. The Company manages this risk by holding a diversified portfolio of securities and sectors and by limiting the amount of exposure to a single issuer of credit. For March 31, 2019 and December 31, 2018, approximately 24% and 23%, respectively, of the Company’s investments in fixed maturities were invested in commercial and residential mortgage-backed securities and approximately 56% and 57% in corporate bonds. Approximately 5% of the fixed income maturities were rated below investment grade. There is certain concentration risk from investments in companies that are engaged in similar activities and have similar economic characteristics. The largest corporate bond sector exposures at March 31, 2019 are consumer non-cyclical consisting of 10% of the total fixed income portfolio, banks 6%, communications 5%, real estate 5%, and energy 5%. The largest corporate bond sector exposures at December 31, 2018 were consumer non-cyclical consisting of 11% of the total fixed income portfolio, banks 6%,

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Instruments	5. The Company uses derivatives to hedge its equity market exposure to index annuity products which are contracts that earn a return based on the change in the value of the S&P 500 index between annual index point dates. The Company buys and sells listed equity and index call options and call option spreads and there is no credit risk. The net premium is paid up front and there are no additional cash requirements or additional contingent liabilities. These contracts are held at fair market value on the Company’s balance sheet. At March 31, 2019 and December 31, 2018, these derivative hedges had a net market value of $0.5 million and $0.2 million, with notional amounts of $13.2 million and $12.7 million on call options purchased and $9.1 million and $8.8 million on call options written, respectively. Derivative instruments are included in other invested assets on the consolidated balance sheets.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	6. Fair value estimates are made at specific points in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale, at one time, the Company’s entire holding of a particular financial instrument. Although fair value estimates are calculated using assumptions that management believes are appropriate, changes in assumptions could significantly affect estimates. Fair value estimates are determined for existing financial instruments without attempting to estimate the value of anticipated future business and the value of assets and certain liabilities that are not considered financial instruments. Accordingly, the aggregate fair value estimates presented do not represent the underlying value of the Company. The Company has procedures in place to validate the fair values received from the independent pricing service. The Company assesses whether prices received represent a reasonable estimate of fair value through various controls designed to ensure that valuations represent a fair price, including calculation of portfolio returns, comparison of returns to corresponding benchmark returns, analysis of periodic changes in market prices, evaluation of corresponding market yields and spread levels, and comparing prices from multiple pricing sources. On an ongoing basis, the Company monitors the pricing service valuation methods and evaluates the various types of securities in its investment portfolio to determine an appropriate fair value hierarchy. In addition, tax ramifications related to the realization of unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in any of the estimates. The following methods and assumptions were used by the Company in estimating the fair value of its financial instruments: Fixed maturity and equity securities: Fair values were determined by an independent pricing service and are downloaded from Clearwater Analytics. The Company does not own any securities for which a fair value was not provided by the pricing service or a custody statement. If a fair value had not been provided for a security, the Company would use a fair value estimated from yield data relating to instruments or securities with similar characteristics or as determined in good faith by the Company’s investment advisor, DWS. Policy loans: The carrying value of policy loans approximates fair value. Other invested assets: Fair values of derivative instruments were determined by an independent pricing service and are downloaded from Clearwater Analytics. FHLB common stock is held at redemption value (see Note 2). Cash and cash equivalents: The carrying value approximates fair value. Separate account asset/liability: Fair values are based on net asset values provided daily by fund managers. Policyholder account balance: For deposit liabilities, the carrying value was based on the amount payable on demand at the reporting date and approximates fair value. Dividend accumulations and other: The carrying value approximates fair value. Amounts related to the Company’s financial instruments as of March 31, 2019 and December 31, 2018 are as follows: Carrying/Fair Value March 31, 2019 Carrying/Fair Value December 31, 2018 (Dollars in thousands) Financial instruments recorded as assets: Fixed maturity securities $ 195,753 $ 184,475 Equity securities 3,806 6,004 Policy loans 9,488 9,581 Other invested assets 536 202 Cash and cash equivalents 29,842 33,252 Separate account 22,922 20,819 Financial instruments recorded as liabilities: Policyholder account balance: Interest sensitive life contracts 41,718 41,478 Annuities 76,277 74,820 Dividend accumulations and other (1) 6,661 6,705 Separate account 22,922 20,819 (1) included within Reserve for deposit type funds in the consolidated balance sheet Fair value is defined as the 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 hierarchy for inputs used in determining fair value maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Assets and liabilities recorded on the Consolidated Statements of Financial Position at fair value are categorized in the fair value hierarchy based on the observability of inputs to the valuation techniques as follows: Level 1 – Assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that the Company can access. Level 2 – Assets and liabilities whose values are based on the following: (a) Quoted prices for similar assets or liabilities in active markets; (b) Quoted prices for identical or similar assets or liabilities in markets that are not active; or (c) Valuation models whose inputs are observable, directly or indirectly, for substantially the full term of the asset or liability. Level 3 – Assets and liabilities whose values are based on prices or valuation techniques that are both unobservable and significant to the overall fair value measurement. Unobservable inputs reflect the Company’s estimates of the assumptions that market participants would use in valuing the assets and liabilities. Summary of significant valuation techniques and inputs for assets and liabilities measured at fair value on a recurring basis: Level 1 measurements: Fixed maturity securities: Comprised of U.S. Treasury and GNMA agency securities. Valuation is based on unadjusted quoted prices for identical assets in active markets that the Company can access. Equities: Comprised of actively traded, exchange-listed equities. Valuation is based on unadjusted quoted prices for identical assets in active markets that the Company can access. Other invested assets: Comprised of actively traded, exchange-listed derivative instruments. Valuation is based on unadjusted quoted prices for identical assets in active markets that the Company can access. Cash Equivalents: Comprised of money market funds. Market values for the money market funds are obtained daily from the fund managers. Separate account assets: Comprised of actively traded mutual funds that have daily quoted net asset values for identical assets that the Company can access. Market values for the actively traded mutual funds in which the separate account assets are invested are obtained daily from the fund managers. Level 2 measurements: Fixed maturity securities: States, political subdivisions, and corporate securities: As valuation technique the pricing vendor employs multi-dimensional relational application model which uses standard inputs including benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications. The pricing vendor also monitors market indicators, and industry and economic events. For high yield corporate securities, observations of equity and credit default swap curves are also used. Residential mortgage-backed securities: As valuation technique the pricing vendor employs option-adjusted spread (“OAS”) model and prepayment model as well as volatility driven, multi-dimensional spread tables using standard inputs including benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications plus new issue data, monthly prepayment information, and collateral performance. The pricing vendor also monitors market indicators, and industry and economic events. Commercial mortgage-backed securities: As valuation technique the pricing vendor employs multi-dimensional spread table and price tables using standard inputs including benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications plus new issue data, monthly prepayment information, collateral performance, and real estate analysis from third party. The pricing vendor also monitors market indicators, and industry and economic events. Level 3 measurements: Equities: The primary inputs to the valuation include quoted prices for identical or similar assets in markets that exhibit less liquidity relative to those markets supporting Level 2 fair value measurements, contractual cash flows, benchmark yields, collateral performance, credit spreads, and other estimates including custody statements. The following table presents the Company’s securities measured at fair value on a recurring basis as of March 31, 2019 and December 31, 2018: Recurring Fair Value Measurements at March 31, 2019 Using: Quoted Prices Significant in Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs Description Fair Values (Level 1) (Level 2) (Level 3) (Dollars in thousands) Fixed maturity securities: U.S. government $ 4,104 $ 4,104 $ – $ – States, political subdivisions, other 34,387 – 34,387 – Corporate 110,985 – 110,985 – Residential mortgage-backed securities 40,601 – 40,601 – Commercial mortgage-backed securities 5,676 – 5,676 – Total fixed maturities 195,753 4,104 191,649 – Equities (1) 1,551 1,551 – – Other invested assets (2) 526 526 – – Cash equivalents (3) 29,842 29,842 – – Separate accounts (4) 22,922 22,922 – – Total $ 250,594 $ 58,945 $ 191,649 $ – Recurring Fair Value Measurements at December 31, 2018 Using: Quoted Prices Significant in Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs Description Fair Values (Level 1) (Level 2) (Level 3) (Dollars in thousands) Fixed maturity securities: U.S. government $ 4,057 $ 4,057 $ – $ – States, political subdivisions, other 30,989 – 30,989 – Corporate 106,286 – 106,286 – Residential mortgage-backed securities 37,522 – 37,522 – Commercial mortgage-backed securities 5,621 – 5,621 – Total fixed maturities 184,475 4,057 180,418 – Equities (1) 3,767 3,757 – 10 Other invested assets 202 202 – – Cash equivalents (3) 33,252 33,252 – – Separate accounts (4) 20,819 20,819 – – Total $ 242,515 $ 62,087 $ 180,418 $ 10 (1) Certain equity investments for which the fair value, of $2.3 million and $2.2 million as of March 31, 2019 and December 31, 2018, respectively, is measured using the net asset value per share (or its equivalent) practical expedient have been excluded from the fair value hierarchy, above. ( 2 ) The Company’s investment in FHLB common stock for which the fair value, of $10,000 at ( 3 ) Cash equivalents are invested in money market funds with daily liquidity. The estimated fair value of cash equivalents is based on the estimated fair value of the underlying assets as provided by fund managers in daily net asset values and included in Level 1 assets. ( 4 ) Separate account assets are invested in money market funds with daily liquidity. The estimated fair value of separate account assets is based on the estimated fair value of the underlying assets as provided by fund managers in daily net asset values and included in Level 1 assets. There were no Level 3 purchases, issuances, sales, settlements, or transfers during the three month periods ended March 31, 2019 and March 31, 2018.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	3 Months Ended
	Mar. 31, 2019
Text Block [Abstract]
Accumulated Other Comprehensive Income	7. The components of AOCI are as follows: Accumulated Unrealized Other Investment Comprehensive Gains (losses) Shadow DAC Income (loss) (Dollars in thousands) Balance, January 1, 2018 $ 5,359 $ (602 ) $ 4,757 Available-for-sale investment gains (losses) arising during the year: Fixed maturity securities net of tax benefit of $207 (7,372 ) – (7,372 ) Equity securities net of tax benefit of $63 (235 ) – (235 ) Change in Shadow DAC net of tax of $235 – 885 885 Balance, December 31, 2018 (2,248 ) 283 (1,965 ) Available-for-sale investment gains (losses) arising during the period: Fixed maturity securities net of tax of $742 4,997 – 4,997 Change in Shadow DAC net of tax benefit of $172 – (649 ) (649 ) Cumulative net effect of adoption of new accounting principle (1) (1,160 ) – (1,160 ) Balance, March 31, 2019 $ 1,589 $ (366 ) $ 1,223 (1) This amount is the net effect of adopting ASU No. 2016-01 as discussed in Note 3. AOCI includes gross unrealized gains and losses on debt and equity securities, as well as shadow DAC. This value is presented net of tax. Equity securities were removed from this table upon adoption of ASU No. 2016-01 at January 1, 2019.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	8. Effective 2016, the parent holding company and subsidiaries files a consolidated federal income tax return. Tax years 2015 through 2018 are subject to examination by the IRS. Prior to 2016, consolidated federal income tax returns were filed under Federal Life as the ultimate parent. Internal Revenue Code Section 382 (“Section 382”) limits how much of a loss carryforward can be used to offset taxable income when there is a change of ownership. The Company will be restricted in its ability to utilize loss carryforwards as a result of a 2018 change in ownership. The annual limit is estimated to be approximately $1.0 million and the total limit is estimated to be approximately $15.0 million. The Company has recorded a net deferred tax liability of $0.1 million reflecting a deferred tax liability of $0.6 million from unrealized gains on securities offset by a $0.5 million deferred tax asset, the partial benefit of $15.0 million in loss carryforwards, of which $13.1 million expire in varying amounts between 2025 and 2032. Realization of this asset is dependent on generating sufficient taxable income prior to expiration of the loss carryforwards. A valuation allowance has been established to account for the Company’s assessment that the entire loss carryforward will likely not be recovered. Although realization of the net deferred tax asset is not assured, management believes it is more likely than not that all of the net deferred tax asset will be realized. The amount of the net deferred tax asset considered realizable, however, could be reduced in the near term if estimates of future taxable income during the carryforward period are reduced. The Company had no liability for unrecognized tax benefits at March 31, 2019 or December 31, 2018 and believes it is reasonably possible that the liability will not significantly increase within the next twelve months. No amounts have been accrued for interest or penalties. The Tax Act limits life reserves for tax purposes to the greater of net surrender value or 92.81% of required reserves. It is not estimated that this will have a meaningful impact to the net admitted assets on the Company’s balance sheet. The federal income tax provisions differ from the amounts determined by multiplying pre-tax income attributable to the Company by the statutory federal income tax rate of 21% for March 31, 2019 and March 31, 2018, as shown below. Three Months Ended March 31, 2019 2018 (Dollars in thousands) Income tax benefits at statutory rate $ (29 ) $ (186 ) Other 27 189 Income tax (benefit) expense $ (2 ) $ 3 Effective tax rate -1.4 % 0.3 %

Commitments and Contingent Liab

Commitments and Contingent Liabilities	3 Months Ended
	Mar. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	9. The Company is involved in various legal actions for which it will establish liabilities where appropriate. In the opinion of the Company’s management, based on the advice of legal counsel, the resolution of such litigation is not expected to have a material adverse effect on the Company’s financial position, results of operations or cash flows.

Debt and Federal Home Loan Bank

Debt and Federal Home Loan Bank Advances	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Debt and Federal Home Loan Bank Advances	10. The Company has not issued any debt or other credit obligations as of March 31, 2019 or December 31, 2018. The Company has no commitments in the form of loan guarantees. Federal Life is a member of the FHLB and has access to various advances and other funding products. As of March 31, 2019 and December 31, 2018, there are no advances or other credit outstanding with the FHLB.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions	11. All the outstanding shares of Americana and FED Mutual are owned by Federal Life. Federal Life is owned by FEDHO Holding Company, which is controlled by Federal Life Holding Company which is owned by Federal Life Group. For the three months ended March 31, 2019 and March 31, 2018, Americana paid $135,000 and $41,000, respectively, in common stock dividends to Federal Life. As of March 31, 2019, and December 31, 2018, Americana reported $200,000 and $78,000, respectively, as dividends due to its parent company, Federal Life. This amount is generally settled within 60 days .

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Earnings Per Share	12. Three Months Ended March 31, 2019 Pro Forma for the Three Months Ended March 31, 2018 (Dollars in thousands, except per share data) Numerator: Net loss - numerator for earnings per common share $ (138 ) $ (890 ) Denominator: Weighted average basic common shares outstanding 3,530,250 3,530,150 Effect of dilutive securities: Stock options 215,000 215,000 Restricted stock awards 140,000 140,000 Denominator for earnings per diluted common share 3,885,250 3,885,150 Basic loss per common share $ (0.04 ) $ (0.25 ) Diluted loss per common share $ (0.04 ) $ (0.25 ) The amounts disclosed above include 140,000 shares that were granted as restricted stock awards to the Company’s executive officers at the closing of the offerings associated with the Company’s IPO. No effect has been given to any issuances of additional shares in connection with the grant of options or awards of stock under the stock-based incentive plan adopted by the Company. Under the stock-based incentive plan, the Company may issue 480,000 shares of its common stock. Of this, 140,000 shares were granted as restricted stock awards and 215,000 shares were used to award stock options under the stock-based incentive plan. The issuance of authorized but unissued shares of common stock upon the exercise of stock options or for purposes of making restricted stock awards under the stock-based incentive plan instead of open market purchases would dilute the voting interests of existing shareholders by approximately 12%.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	13. On April 4, 2019, the Company filed with the SEC a Form 25, notification to voluntarily delist from the Nasdaq Capital Market and announced that it anticipates that its common stock will be quoted on the OTC Pink Open Market following the Nasdaq delisting. The delisting was effective April 14, 2019 and the Company’s stock began trading on the OTC Pink Open Market on April 15, 2019 under the symbol “FLFG”.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to adopt accounting policies and make estimates and assumptions that affect amounts reported in the consolidated financial statements. The most significant estimates include those used in determining the capitalization and amortization of deferred policy acquisition costs (“DAC”), the valuation of investments, future policy benefits (traditional life contracts, immediate annuities, supplemental contracts with life contingencies, and accident and health), the fair value of stock-based compensation awards, and the provision for income taxes. Actual results could differ from those estimates.
Emerging Growth Company	Emerging Growth Company The Company qualifies as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012 (the “Jobs Act”). As an emerging growth company, the Company utilizes the extended transition period provided in the Securities Act of 1933 for complying with new or revised accounting standards. Under this accommodation, the Company may early adopt a new or revised accounting standard only if early adoption is permitted by the standard. Changes in accounting principles issued but not yet adopted described below reflect the Company’s status as an Emerging Growth Company and the extended adoption period allowed for such companies.
Smaller Reporting Company	Smaller Reporting Company Additionally, the Company qualifies as a “smaller reporting company” as defined by Item 10(f)(1) of Regulation S-K. In some instances, this permits the Company to provide scaled disclosures under Regulation S-K and Regulation S-X.
Investments	Investments Realized capital gains and losses on sales of investments include fixed maturity securities with calls and prepayments and are determined on the basis of specific security identification. Equity securities are carried at fair value. Beginning with the adoption of Accounting Standards Update (“ASU”) No. 2016-01 on January 1, 2019, changes in the fair value of equity securities are recognized through net income. Prior to January 1, 2019, unrealized gains or losses were recorded in accumulated other comprehensive income (loss) (“AOCI”). Additionally, in connection with the adoption of ASU No. 2016-01, effective January 1, 2019, the Company has reclassified its investment in Federal Home Loan Bank (“FHLB”) common stock from equity securities to other invested assets. These investments are carried at redemption value. The carrying value of these investments at December 31, 2018 was $10,000.

Investments and Related Income

Investments and Related Income (Tables)	3 Months Ended
	Mar. 31, 2019
Investments Debt And Equity Securities [Abstract]
Summary of Amortized Cost, Gross Unrealized Gains and (Losses) and Fair Value of the Company's Fixed Maturity and Equities	The following table presents the amortized cost, gross unrealized gains (losses) and fair value of the Company’s fixed maturity securities as of March 31, 2019 and December 31, 2018. March 31, 2019 Amortized Gross Unrealized Fair Cost Gains Losses Value (Dollars in thousands) U.S. government $ 4,060 $ 136 $ (92 ) $ 4,104 States, political subdivisions, other 33,699 778 (90 ) 34,387 Corporate 109,523 2,211 (749 ) 110,985 Residential mortgage-backed securities 39,703 990 (92 ) 40,601 Commercial mortgage-backed securities 5,588 137 (49 ) 5,676 Total fixed maturity securities $ 192,573 $ 4,252 $ (1,072 ) $ 195,753 December 31, 2018 Amortized Gross Unrealized Fair Cost Gains Losses Value (Dollars in thousands) U.S. government $ 4,063 $ 142 $ (148 ) $ 4,057 States, political subdivisions, other 30,881 472 (364 ) 30,989 Corporate 108,664 617 (2,995 ) 106,286 Residential mortgage-backed securities 37,755 455 (688 ) 37,522 Commercial mortgage-backed securities 5,672 73 (124 ) 5,621 Total fixed maturity securities 187,035 1,759 (4,319 ) 184,475 Equity securities 4,514 1,528 (38 ) 6,004 Total fixed maturity and equity securities $ 191,549 $ 3,287 $ (4,357 ) $ 190,479
Summary of Scheduled Maturities for Fixed Income Securities	The scheduled maturities for fixed income securities as of March 31, 2019 and December 31, 2018 are as follows: March 31, 2019 December 31, 2018 Amortized Fair Amortized Fair Cost Value Cost Value (Dollars in thousands) Due in one year or less $ 6,699 $ 6,795 $ 5,998 $ 6,041 Due after one year through five years 34,683 35,506 37,917 38,032 Due after five years through ten years 77,014 77,945 74,274 72,209 Due after ten years 28,886 29,230 25,419 25,050 Mortgage-backed securities 45,291 46,277 43,427 43,143 Total $ 192,573 $ 195,753 $ 187,035 $ 184,475
Summary of Investment Proceeds and the Related Gross Realized Investment Gains (Losses)	The following table presents the sources of investment proceeds and the related gross realized investment gains (losses) for the three month periods ended March 31, 2019 and March 31, 2018, respectively: Three Months Ended March 31, 2019 Fixed Equity Derivative Maturities Securities Instruments (Dollars in thousands) Proceeds from sales or maturities $ 3,768 $ 2,827 $ 77 Gross gains from sales or maturities 11 715 107 Gross losses from sales or maturities (2 ) (12 ) (140 ) Three Months Ended March 31, 2018 Fixed Equity Derivative Maturities Securities Instruments (Dollars in thousands) Proceeds from sales or maturities $ 5,614 $ – $ 128 Gross gains from sales or maturities 48 – 226 Gross losses from sales or maturities (33 ) – (151 )
Summary of Fair Value and Gross Unrealized Losses Aggregated by Investment Category	The following table shows the fair value and gross unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2019 and December 31, 2018. March 31, 2019 Less than 12 months 12 months or longer Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Description of securities Value Loss Value Loss Value Loss (Dollars in thousands) U.S. government $ – $ – $ 2,960 $ (92 ) $ 2,960 $ (92 ) States, political subdivisions, other 3,045 (8 ) 5,619 (82 ) 8,664 (90 ) Corporate 4,990 (46 ) 25,724 (703 ) 30,714 (749 ) Residential mortgage-backed securities – – 10,164 (92 ) 10,164 (92 ) Commercial mortgage-backed securities 50 (2 ) 2,474 (47 ) 2,524 (49 ) Total $ 8,085 $ (56 ) $ 46,941 $ (1,016 ) $ 55,026 $ (1,072 ) December 31, 2018 Less than 12 months 12 months or longer Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Description of securities Value Loss Value Loss Value Loss (Dollars in thousands) U.S. government $ – $ – $ 2,907 $ (148 ) $ 2,907 $ (148 ) States, political subdivisions, other 6,106 (103 ) 9,339 (261 ) 15,445 (364 ) Corporate 49,193 (1,886 ) 14,228 (1,109 ) 63,421 (2,995 ) Residential mortgage-backed securities 9,401 (158 ) 13,065 (530 ) 22,466 (688 ) Commercial mortgage-backed securities 2,003 (45 ) 1,502 (79 ) 3,505 (124 ) Equity securities 379 (38 ) – – 379 (38 ) Total $ 67,082 $ (2,230 ) $ 41,041 $ (2,127 ) $ 108,123 $ (4,357 )
Summary of Net Investment Income	Net investment income for the three month periods ended March 31, 2019 and March 31, 2018, respectively, is as follows: Three Months Ended March 31, 2019 2018 (Dollars in thousands) Fixed maturity securities $ 1,835 $ 1,869 Equity securities 31 37 Real estate 26 37 Cash equivalents 153 8 Policy loans 174 176 Other 128 140 Subtotal 2,347 2,267 Investment expense (146 ) (160 ) Net investment income $ 2,201 $ 2,107
Summary of Unrealized Net Capital Gains and Losses	Unrealized Capital Gains (Losses) The following table shows the unrealized net capital gains and losses included in AOCI at March 31, 2019 and December 31, 2018. Equity securities were removed from this table upon adoption of ASU No. 2016-01 at January 1, 2019. March 31, 2019 Net Fair Gross Unrealized Unrealized Value Gains Losses Gain (Loss) (Dollars in thousands) Fixed income securities $ 195,753 $ 4,252 $ (1,072 ) $ 3,180 Net unrealized capital gains $ 3,180 December 31, 2018 Net Fair Gross Unrealized Unrealized Value Gains Losses Gain (Loss) (Dollars in thousands) Fixed income securities $ 184,475 $ 1,759 $ (4,319 ) $ (2,560 ) Equity securities 6,004 1,528 (38 ) 1,490 Net unrealized capital gains $ (1,070 )

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Carrying Amount and Fair Value of Financial Instruments	Amounts related to the Company’s financial instruments as of March 31, 2019 and December 31, 2018 are as follows: Carrying/Fair Value March 31, 2019 Carrying/Fair Value December 31, 2018 (Dollars in thousands) Financial instruments recorded as assets: Fixed maturity securities $ 195,753 $ 184,475 Equity securities 3,806 6,004 Policy loans 9,488 9,581 Other invested assets 536 202 Cash and cash equivalents 29,842 33,252 Separate account 22,922 20,819 Financial instruments recorded as liabilities: Policyholder account balance: Interest sensitive life contracts 41,718 41,478 Annuities 76,277 74,820 Dividend accumulations and other (1) 6,661 6,705 Separate account 22,922 20,819 (1) included within Reserve for deposit type funds in the consolidated balance sheet
Summary of Securities Measured at Fair Value on Recurring Basis	The following table presents the Company’s securities measured at fair value on a recurring basis as of March 31, 2019 and December 31, 2018: Recurring Fair Value Measurements at March 31, 2019 Using: Quoted Prices Significant in Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs Description Fair Values (Level 1) (Level 2) (Level 3) (Dollars in thousands) Fixed maturity securities: U.S. government $ 4,104 $ 4,104 $ – $ – States, political subdivisions, other 34,387 – 34,387 – Corporate 110,985 – 110,985 – Residential mortgage-backed securities 40,601 – 40,601 – Commercial mortgage-backed securities 5,676 – 5,676 – Total fixed maturities 195,753 4,104 191,649 – Equities (1) 1,551 1,551 – – Other invested assets (2) 526 526 – – Cash equivalents (3) 29,842 29,842 – – Separate accounts (4) 22,922 22,922 – – Total $ 250,594 $ 58,945 $ 191,649 $ – Recurring Fair Value Measurements at December 31, 2018 Using: Quoted Prices Significant in Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs Description Fair Values (Level 1) (Level 2) (Level 3) (Dollars in thousands) Fixed maturity securities: U.S. government $ 4,057 $ 4,057 $ – $ – States, political subdivisions, other 30,989 – 30,989 – Corporate 106,286 – 106,286 – Residential mortgage-backed securities 37,522 – 37,522 – Commercial mortgage-backed securities 5,621 – 5,621 – Total fixed maturities 184,475 4,057 180,418 – Equities (1) 3,767 3,757 – 10 Other invested assets 202 202 – – Cash equivalents (3) 33,252 33,252 – – Separate accounts (4) 20,819 20,819 – – Total $ 242,515 $ 62,087 $ 180,418 $ 10

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2019
Text Block [Abstract]
Accumulated Other Comprehensive Income	The components of AOCI are as follows: Accumulated Unrealized Other Investment Comprehensive Gains (losses) Shadow DAC Income (loss) (Dollars in thousands) Balance, January 1, 2018 $ 5,359 $ (602 ) $ 4,757 Available-for-sale investment gains (losses) arising during the year: Fixed maturity securities net of tax benefit of $207 (7,372 ) – (7,372 ) Equity securities net of tax benefit of $63 (235 ) – (235 ) Change in Shadow DAC net of tax of $235 – 885 885 Balance, December 31, 2018 (2,248 ) 283 (1,965 ) Available-for-sale investment gains (losses) arising during the period: Fixed maturity securities net of tax of $742 4,997 – 4,997 Change in Shadow DAC net of tax benefit of $172 – (649 ) (649 ) Cumulative net effect of adoption of new accounting principle (1) (1,160 ) – (1,160 ) Balance, March 31, 2019 $ 1,589 $ (366 ) $ 1,223 (1) This amount is the net effect of adopting ASU No. 2016-01 as discussed in Note 3.

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Summary of Federal Income Tax Provisions	The federal income tax provisions differ from the amounts determined by multiplying pre-tax income attributable to the Company by the statutory federal income tax rate of 21% for March 31, 2019 and March 31, 2018, as shown below. Three Months Ended March 31, 2019 2018 (Dollars in thousands) Income tax benefits at statutory rate $ (29 ) $ (186 ) Other 27 189 Income tax (benefit) expense $ (2 ) $ 3 Effective tax rate -1.4 % 0.3 %

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Schedule of Pro Forma Net Loss and Weighted Average Common Shares Outstanding Used in Computation of Earnings per Common Share	Three Months Ended March 31, 2019 Pro Forma for the Three Months Ended March 31, 2018 (Dollars in thousands, except per share data) Numerator: Net loss - numerator for earnings per common share $ (138 ) $ (890 ) Denominator: Weighted average basic common shares outstanding 3,530,250 3,530,150 Effect of dilutive securities: Stock options 215,000 215,000 Restricted stock awards 140,000 140,000 Denominator for earnings per diluted common share 3,885,250 3,885,150 Basic loss per common share $ (0.04 ) $ (0.25 ) Diluted loss per common share $ (0.04 ) $ (0.25 )

Organization and Basis of Pre_2

Organization and Basis of Presentation - Additional information (Details) $ / shares in Units, $ in Millions	Dec. 11, 2018USD ($)$ / sharesshares	Mar. 31, 2019SubsidiaryState
Organization And Basis Of Presentation [Line Items]
Number of wholly-owned non-insurance subsidiaries | Subsidiary		2
Number of states | State		45
Predecessor
Organization And Basis Of Presentation [Line Items]
Gross Proceeds from issuance of common stock initial public offering | $	$ 35.3
IPO | Predecessor
Organization And Basis Of Presentation [Line Items]
Shares issued | shares	3,530,150
Shares issued, price per share | $ / shares	$ 10

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Significant Accounting Policies [Line Items]
Investments	$ 209,583	$ 200,262
Investment in Federal Home Loan Bank Stock [Member] | ASU 2016-01
Significant Accounting Policies [Line Items]
Investments		$ 10,000

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements - Additional Information (Detail) - USD ($)	Jan. 01, 2019	Dec. 31, 2017
ASU 2018-02
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Tax cuts and jobs act, reclassification from AOCI to retained earnings, tax effect		$ 805,000
ASU 2016-01
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Cumulative effect adjustment to increase retained earnings	$ 1,160,000

Investments and Related Incom_2

Investments and Related Income - Summary of Amortized Cost, Gross Unrealized Gains and (Losses) and Fair Value of the Company's Fixed Maturity and Equities (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Schedule of Available-for-sale [Line Items]
Amortized cost		$ 191,549
Gross unrealized gains		3,287
Gross unrealized losses		(4,357)
Fair Value		190,479
Equity Securities
Schedule of Available-for-sale [Line Items]
Amortized cost		4,514
Gross unrealized gains		1,528
Gross unrealized losses		(38)
Fair Value		6,004
U.S. government
Schedule of Available-for-sale [Line Items]
Amortized cost	$ 4,060	4,063
Gross unrealized gains	136	142
Gross unrealized losses	(92)	(148)
Fair Value	4,104	4,057
States, Political Subdivisions, Other
Schedule of Available-for-sale [Line Items]
Amortized cost	33,699	30,881
Gross unrealized gains	778	472
Gross unrealized losses	(90)	(364)
Fair Value	34,387	30,989
Corporate
Schedule of Available-for-sale [Line Items]
Amortized cost	109,523	108,664
Gross unrealized gains	2,211	617
Gross unrealized losses	(749)	(2,995)
Fair Value	110,985	106,286
Residential Mortgage-Backed Securities
Schedule of Available-for-sale [Line Items]
Amortized cost	39,703	37,755
Gross unrealized gains	990	455
Gross unrealized losses	(92)	(688)
Fair Value	40,601	37,522
Commercial Mortgage-Backed Securities
Schedule of Available-for-sale [Line Items]
Amortized cost	5,588	5,672
Gross unrealized gains	137	73
Gross unrealized losses	(49)	(124)
Fair Value	5,676	5,621
Fixed Income Securities
Schedule of Available-for-sale [Line Items]
Amortized cost	192,573	187,035
Gross unrealized gains	4,252	1,759
Gross unrealized losses	(1,072)	(4,319)
Fair Value	$ 195,753	$ 184,475

Investments and Related Income-

Investments and Related Income- Summary of Scheduled Maturities for Fixed Income Securities (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Investments Debt Securities [Abstract]
Due in one year or less, amortized cost	$ 6,699	$ 5,998
Due after one year through five years, amortized cost	34,683	37,917
Due after five years through ten years, amortized cost	77,014	74,274
Due after ten years, amortized cost	28,886	25,419
Mortgage-backed securities, amortized cost	45,291	43,427
Total, amortized cost	192,573	187,035
Due in one year or less, fair value	6,795	6,041
Due after one year through five years, fair value	35,506	38,032
Due after five years through ten years,fair value	77,945	72,209
Due after ten years, fair value	29,230	25,050
Mortgage-backed securities, fair value	46,277	43,143
Total, fair value	$ 195,753	$ 184,475

Investments and Related Incom_3

Investments and Related Income - Summary of Investment Proceeds and the Related Gross Realized Investment Gains (Losses) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Fixed Maturities
Schedule Of Fixed Maturity Proceeds And Related Gross Investment Gains Losses [Line Items]
Proceeds from sales or maturities	$ 3,768	$ 5,614
Gross gains from sales or maturities	11	48
Gross losses from sales or maturities	(2)	(33)
Equity Securities
Schedule Of Fixed Maturity Proceeds And Related Gross Investment Gains Losses [Line Items]
Proceeds from sales or maturities	2,827
Gross gains from sales or maturities	715
Gross losses from sales or maturities	(12)
Derivative
Schedule Of Fixed Maturity Proceeds And Related Gross Investment Gains Losses [Line Items]
Proceeds from sales or maturities	77	128
Gross gains from sales or maturities	107	226
Gross losses from sales or maturities	$ (140)	$ (151)

Investments and Related Incom_4

Investments and Related Income - Additional Information (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Schedule Of Investments [Line Items]
Other-than-temporary-impairment (OTTI) losses	$ 0	$ 0
Securities with market value	$ 195,753,000	$ 184,475,000
Fixed income maturities rated below investment grade	5.00%	5.00%
Commercial And Residential Mortgage Backed Securities
Schedule Of Investments [Line Items]
Exposure to total fixed income portfolio	24.00%	23.00%
Consumer Non-cyclical
Schedule Of Investments [Line Items]
Corporate bond sector exposures to total fixed income portfolio	10.00%	11.00%
Banks
Schedule Of Investments [Line Items]
Corporate bond sector exposures to total fixed income portfolio	6.00%	6.00%
Communications
Schedule Of Investments [Line Items]
Corporate bond sector exposures to total fixed income portfolio	5.00%	6.00%
Real Estate
Schedule Of Investments [Line Items]
Corporate bond sector exposures to total fixed income portfolio	5.00%	5.00%
Energy
Schedule Of Investments [Line Items]
Corporate bond sector exposures to total fixed income portfolio	5.00%	5.00%
Deposit With Governmental Agencies
Schedule Of Investments [Line Items]
Securities with market value	$ 4,600,000	$ 4,500,000
Corporate Bonds
Schedule Of Investments [Line Items]
Exposure to total fixed income portfolio	56.00%	57.00%
ASU 2016-01
Schedule Of Investments [Line Items]
Unrealized loss on equity securities in net investment gains	$ 105,000

Investments and Related Incom_5

Investments and Related Income - Summary Of Fair Value And Gross Unrealized Losses Aggregated By Investment Category (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Schedule of Available-for-sale [Line Items]
Fair Value	$ 8,085	$ 67,082
Gross Unrealized Loss	(56)	(2,230)
Fair Value	46,941	41,041
Gross Unrealized Loss	(1,016)	(2,127)
Total Fair Value	55,026	108,123
Total Gross Unrealized Loss	(1,072)	(4,357)
Equity Securities
Schedule of Available-for-sale [Line Items]
Fair Value		379
Gross Unrealized Loss		(38)
Total Fair Value		379
Total Gross Unrealized Loss		(38)
U.S. government
Schedule of Available-for-sale [Line Items]
Fair Value	2,960	2,907
Gross Unrealized Loss	(92)	(148)
Total Fair Value	2,960	2,907
Total Gross Unrealized Loss	(92)	(148)
States, Political Subdivisions, Other
Schedule of Available-for-sale [Line Items]
Fair Value	3,045	6,106
Gross Unrealized Loss	(8)	(103)
Fair Value	5,619	9,339
Gross Unrealized Loss	(82)	(261)
Total Fair Value	8,664	15,445
Total Gross Unrealized Loss	(90)	(364)
Corporate
Schedule of Available-for-sale [Line Items]
Fair Value	4,990	49,193
Gross Unrealized Loss	(46)	(1,886)
Fair Value	25,724	14,228
Gross Unrealized Loss	(703)	(1,109)
Total Fair Value	30,714	63,421
Total Gross Unrealized Loss	(749)	(2,995)
Residential Mortgage-Backed Securities
Schedule of Available-for-sale [Line Items]
Fair Value		9,401
Gross Unrealized Loss		(158)
Fair Value	10,164	13,065
Gross Unrealized Loss	(92)	(530)
Total Fair Value	10,164	22,466
Total Gross Unrealized Loss	(92)	(688)
Commercial Mortgage-Backed Securities
Schedule of Available-for-sale [Line Items]
Fair Value	50	2,003
Gross Unrealized Loss	(2)	(45)
Fair Value	2,474	1,502
Gross Unrealized Loss	(47)	(79)
Total Fair Value	2,524	3,505
Total Gross Unrealized Loss	$ (49)	$ (124)

Investments and Related Incom_6

Investments and Related Income - Summary of Net Investment Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Gross, Investment Income	$ 2,347	$ 2,267
Investment expense	(146)	(160)
Net investment income	2,201	2,107
Fixed Maturities
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Gross, Investment Income	1,835	1,869
Equity Securities
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Gross, Investment Income	31	37
Real Estate Investment
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Gross, Investment Income	26	37
Cash and Cash Equivalents
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Gross, Investment Income	153	8
Policy Loans
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Gross, Investment Income	174	176
Other Long-term Investments
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Gross, Investment Income	$ 128	$ 140

Investments and Related Incom_7

Investments and Related Income - Summary of Unrealized Net Capital Gains and Losses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Mar. 31, 2019
Debt and Equity Securities, Unrealized Gain Loss [Line Items]
Debt Securities, Unrealized capital gain (losses), Fair value	$ 184,475	$ 195,753
Equity Securities, Unrealized capital gain (losses), Fair value	6,004	3,806
AOCI Attributable to Parent
Debt and Equity Securities, Unrealized Gain Loss [Line Items]
Equity Securities, Unrealized capital gain (losses), Fair value	6,004
Equity Securities, Gross Unrealized gains	1,528
Equity Securities, Gross Unrealized losses	(38)
Equity Securities, Unrealized gain (losses), net	1,490
Debt and Equity Securities, Unrealized gain (losses), net	(1,070)	3,180
Fixed Income Securities | AOCI Attributable to Parent
Debt and Equity Securities, Unrealized Gain Loss [Line Items]
Debt Securities, Unrealized capital gain (losses), Fair value	184,475	195,753
Debt Securities, Gross Unrealized gains	1,759	4,252
Debt Securities, Gross Unrealized losses	(4,319)	(1,072)
Debt Securities, Unrealized gain (losses), net	$ (2,560)	$ 3,180

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Amount of credit risk	$ 0	$ 0
Additional cash requirements	0	0
Net market value	500,000	200,000
Call Option Purchased
Derivative [Line Items]
Call option	13,200,000	12,700,000
Call Option Written
Derivative [Line Items]
Call option	$ 9,100,000	$ 8,800,000

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Carrying Amount and Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands		Mar. 31, 2019	Dec. 31, 2018
Financial instruments recorded as assets:
Equity securities, at fair value		$ 3,806	$ 6,004
Separate account		22,922	20,819
Policyholder account balance:
Separate account		22,922	20,819
Carrying Amount
Financial instruments recorded as assets:
Fixed maturity securities		195,753	184,475
Equity securities, at fair value		3,806	6,004
Policy loans		9,488	9,581
Other invested assets		536	202
Cash and cash equivalents		29,842	33,252
Separate account		22,922	20,819
Policyholder account balance:
Interest sensitive life contracts		41,718	41,478
Annuities		76,277	74,820
Dividend accumulations and other	[1]	6,661	6,705
Separate account		22,922	20,819
Fair Value
Financial instruments recorded as assets:
Fixed maturity securities		195,753	184,475
Equity securities, at fair value		3,806	6,004
Policy loans		9,488	9,581
Other invested assets		536	202
Cash and cash equivalents		29,842	33,252
Separate account		22,922	20,819
Policyholder account balance:
Interest sensitive life contracts		41,718	41,478
Annuities		76,277	74,820
Dividend accumulations and other	[1]	6,661	6,705
Separate account		$ 22,922	$ 20,819
[1]	included within Reserve for deposit type funds in the consolidated balance sheet

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Summary of Securities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands		Mar. 31, 2019		Dec. 31, 2018
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equities		$ 3,806		$ 6,004
Separate accounts		22,922		20,819
Recurring Fair Value Measurements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Fixed maturities		195,753		184,475
Equities	[1]	1,551		3,767
Other invested assets		526	[2]	202
Cash equivalents	[3]	29,842		33,252
Separate accounts	[4]	22,922		20,819
Total		250,594		242,515
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring Fair Value Measurements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Fixed maturities		4,104		4,057
Equities	[1]	1,551		3,757
Other invested assets		526	[2]	202
Cash equivalents	[3]	29,842		33,252
Separate accounts	[4]	22,922		20,819
Total		58,945		62,087
Significant Other Observable Inputs (Level 2) | Recurring Fair Value Measurements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Fixed maturities		191,649		180,418
Total		191,649		180,418
Significant Other Unobservable Inputs (Level 3) | Recurring Fair Value Measurements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equities	[1]			10
Total				10
U.S. government | Recurring Fair Value Measurements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Fixed maturities		4,104		4,057
U.S. government | Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring Fair Value Measurements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Fixed maturities		4,104		4,057
States, Political Subdivisions, Other | Recurring Fair Value Measurements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Fixed maturities		34,387		30,989
States, Political Subdivisions, Other | Significant Other Observable Inputs (Level 2) | Recurring Fair Value Measurements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Fixed maturities		34,387		30,989
Corporate | Recurring Fair Value Measurements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Fixed maturities		110,985		106,286
Corporate | Significant Other Observable Inputs (Level 2) | Recurring Fair Value Measurements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Fixed maturities		110,985		106,286
Residential Mortgage-Backed Securities | Recurring Fair Value Measurements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Fixed maturities		40,601		37,522
Residential Mortgage-Backed Securities | Significant Other Observable Inputs (Level 2) | Recurring Fair Value Measurements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Fixed maturities		40,601		37,522
Commercial Mortgage-Backed Securities | Recurring Fair Value Measurements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Fixed maturities		5,676		5,621
Commercial Mortgage-Backed Securities | Significant Other Observable Inputs (Level 2) | Recurring Fair Value Measurements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Fixed maturities		$ 5,676		$ 5,621
[1]	Certain equity investments for which the fair value, of $2.3 million and $2.2 million as of March 31, 2019 and December 31, 2018, respectively, is measured using the net asset value per share (or its equivalent) practical expedient have been excluded from the fair value hierarchy, above.
[2]	The Company’s investment in FHLB common stock for which the fair value, of $10,000 at March 31, 2019 and December 31, 2018, is based on its redemption value, effective January 1, 2019 (see Note 2), has been excluded from the fair value hierarchy, above.
[3]	Cash equivalents are invested in money market funds with daily liquidity. The estimated fair value of cash equivalents is based on the estimated fair value of the underlying assets as provided by fund managers in daily net asset values and included in Level 1 assets
[4]	Separate account assets are invested in money market funds with daily liquidity. The estimated fair value of separate account assets is based on the estimated fair value of the underlying assets as provided by fund managers in daily net asset values and included in Level 1 assets.

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Summary of Securities Measured at Fair Value on Recurring Basis (Parenthetical) (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Abstract]
Fair value of equity investment	$ 2,300,000	$ 2,200,000
FHLB Common Stock, Fair Value	$ 10,000	$ 10,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income - Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
		Mar. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance		$ (1,965)
Available-for-sale investment gains (losses) arising during the year:
Ending balance		1,223	$ (1,965)
AOCI Attributable to Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance		(2,248)	5,359
Available-for-sale investment gains (losses) arising during the year:
Cumulative net effect of adoption of new accounting principle	[1]	(1,160)
Ending balance		1,589	(2,248)
AOCI Attributable to Parent | Fixed Maturities
Available-for-sale investment gains (losses) arising during the year:
Securities		4,997	(7,372)
AOCI Attributable to Parent | Equity Security
Available-for-sale investment gains (losses) arising during the year:
Securities			(235)
Shadow Deferred Acquisition Costs
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance		283	(602)
Available-for-sale investment gains (losses) arising during the year:
Change in Shadow DAC		(649)	885
Ending balance		(366)	283
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance		(1,965)	4,757
Available-for-sale investment gains (losses) arising during the year:
Change in Shadow DAC		(649)	885
Cumulative net effect of adoption of new accounting principle	[1]	(1,160)
Ending balance		1,223	(1,965)
Accumulated Other Comprehensive Income (Loss) | Fixed Maturities
Available-for-sale investment gains (losses) arising during the year:
Securities		$ 4,997	(7,372)
Accumulated Other Comprehensive Income (Loss) | Equity Security
Available-for-sale investment gains (losses) arising during the year:
Securities			$ (235)
[1]	This amount is the net effect of adopting ASU No. 2016-01 as discussed in Note 3.

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income - Accumulated Other Comprehensive Income (Parenthetical) (Detail) - AOCI Attributable to Parent - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Change in Shadow DAC, tax expense (benefit)	$ (172)	$ 235
Fixed Maturities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Securities, tax expense (benefit)	$ 742	(207)
Equity Security
Accumulated Other Comprehensive Income (Loss) [Line Items]
Securities, tax expense (benefit)		$ (63)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Income Tax Contingency [Line Items]
Estimated annual limit of loss carryforward	$ 1,000,000
Estimated total limit of loss carryforward	15,000,000
Net deferred tax liability	100,000
Deferred Tax Liabilities, Unrealized Gains on Trading Securities	600,000
Deferred Tax Asset	500,000
Loss carryforwards, subject to expiration	$ 13,100,000
Operating loss carry forwards expiration year start	2025
Operating loss carry forwards expiration year end	2032
Liability for unrecognized tax benefits	$ 0		$ 0
Accrued for interest or penalties of unrecognized tax benefits	$ 0
Statutory federal income tax rate	21.00%	21.00%
Minimum
Income Tax Contingency [Line Items]
Percentage Of Life Reserve for tax purpose	92.81%

Income Taxes - Summary of Feder

Income Taxes - Summary of Federal Income Tax Provisions (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income tax benefits at statutory rate	$ (29)	$ (186)
Other	27	189
Income tax (benefit) expense	$ (2)	$ 3
Effective tax rate	(1.40%)	0.30%

Debt and Federal Home Loan Ba_2

Debt and Federal Home Loan Bank Advances - Additional Information (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
Advances with FHLB	$ 0	$ 0
Other credit obligations	0	$ 0
Commitments in form of loan guarantees	$ 0

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Schedule Of Related Party Transactions By Related Party [Line Items]
Amount settlement descriptions	60 days
Americana.
Schedule Of Related Party Transactions By Related Party [Line Items]
Common stock dividends to Federal Life	$ 135,000	$ 41,000
Dividends due to Federal Life	$ 200,000		$ 78,000

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Numerator:
Net loss - numerator for earnings per common share	$ (138)
Denominator:
Weighted average basic common shares outstanding	3,530,250
Effect of dilutive securities:
Denominator for earnings per diluted common share	3,885,250
Basic loss per common share	$ (0.04)	$ (0.25)
Diluted loss per common share	$ (0.04)	$ (0.25)
Pro Forma
Numerator:
Net loss - numerator for earnings per common share		$ (890)
Denominator:
Weighted average basic common shares outstanding		3,530,150
Effect of dilutive securities:
Denominator for earnings per diluted common share		3,885,150
Basic loss per common share		$ (0.25)
Diluted loss per common share		$ (0.25)
Stock Option
Effect of dilutive securities:
Effect of dilutive securities	215,000
Stock Option | Pro Forma
Effect of dilutive securities:
Effect of dilutive securities		215,000
Restricted stock awards
Effect of dilutive securities:
Effect of dilutive securities	140,000
Restricted stock awards | Pro Forma
Effect of dilutive securities:
Effect of dilutive securities		140,000

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2019shares
Executive Officer
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares granted as restricted stock awards	140,000
Stock Based Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares granted as restricted stock awards	140,000
Common stock, shares available to issue	480,000
Percentage by which issuance of common shares under stock incentive plan dilute voting interest of existing shareholders	12.00%
Stock Based Incentive Plan | Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock, shares available to issue	215,000