Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 04, 2014 | Mar. 04, 2014 |
Common Stock Class A [Member] | Common Stock Class B [Member] | |||
Entity Information [Line Items] | ' | ' | ' | ' |
Entity Registrant Name | 'CITIZENS INC | ' | ' | ' |
Entity Central Index Key | '0000024090 | ' | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' | ' |
Entity Voluntary Filers | 'No | ' | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' | ' |
Entity Public Float | ' | $274,062 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' | ' |
Document Type | '10-K | ' | ' | ' |
Amendment Flag | 'false | ' | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' | ' |
Entity Common Stock, Shares Outstanding | ' | ' | 49,080,114 | 1,001,714 |
Consolidated_Statements_of_Fin
Consolidated Statements of Financial Position (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Investments: | ' | ' |
Fixed maturities available-for-sale, at fair value (cost: $595,944 and $559,736 in 2013 and 2012, respectively) | $605,256 | $604,520 |
Fixed maturities held-to-maturity, at amortized cost (fair value: $223,533 and $193,739 in 2013 and 2012, respectively) | 227,696 | 187,008 |
Equity securities available-for-sale, at fair value (cost: $45,883 and $52,744 in 2013 and 2012, respectively) | 47,259 | 53,741 |
Mortgage loans on real estate | 671 | 1,509 |
Policy loans | 48,868 | 42,993 |
Real estate held for investment (less $1,429 and $1,287 accumulated depreciation in 2013 and 2012, respectively) | 8,440 | 8,496 |
Other long-term investments | 45 | 57 |
Short-term investments | 0 | 2,340 |
Total investments | 938,235 | 900,664 |
Cash and cash equivalents | 54,593 | 56,299 |
Accrued investment income | 12,251 | 10,304 |
Reinsurance Recoverable on Claims Payable and Future Policy Benefit Reserves | 4,394 | 9,651 |
Deferred policy acquisition costs | 146,691 | 135,569 |
Cost of customer relationships acquired | 23,374 | 25,116 |
Goodwill | 17,160 | 17,160 |
Other intangible assets | 851 | 879 |
Federal income tax receivable | 0 | 270 |
Property and equipment, net | 6,662 | 7,383 |
Due premiums, net (less $1,429 and $1,345 allowance for doubtful accounts in 2013 and 2012, respectively) | 11,209 | 10,527 |
Prepaid expenses | 95 | 344 |
Other assets | 765 | 782 |
Total assets | 1,216,280 | 1,174,948 |
Future policy benefits reserves: | ' | ' |
Life insurance | 834,269 | 762,319 |
Annuities | 55,485 | 51,750 |
Accident and health | 1,250 | 5,491 |
Dividend accumulations | 13,662 | 11,962 |
Premiums paid in advance | 32,560 | 27,455 |
Policy claims payable | 9,488 | 11,015 |
Other policyholders' funds | 7,982 | 9,440 |
Total policy liabilities | 954,696 | 879,432 |
Commissions payable | 2,562 | 2,606 |
Deferred federal income tax | 1,704 | 17,301 |
Current federal income tax payable | 590 | 0 |
Payable for securities in process of settlement | 0 | 2,358 |
Other liabilities | 10,919 | 10,143 |
Total liabilities | 970,471 | 911,840 |
Stockholders' equity: | ' | ' |
Accumulated deficit | -12,542 | -17,335 |
Accumulated other comprehensive income: | ' | ' |
Unrealized gains on securities, net of tax | 6,795 | 28,887 |
Treasury stock, at cost | -11,011 | -11,011 |
Total stockholders' equity | 245,809 | 263,108 |
Total liabilities and stockholders' equity | 1,216,280 | 1,174,948 |
Common Stock Class A [Member] | ' | ' |
Stockholders' equity: | ' | ' |
Common Stock | 259,383 | 259,383 |
Common Stock Class B [Member] | ' | ' |
Stockholders' equity: | ' | ' |
Common Stock | $3,184 | $3,184 |
Consolidated_Statements_of_Fin1
Consolidated Statements of Financial Position (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Investments: | ' | ' |
Fixed maturities available-for-sale, cost | $595,944 | $559,736 |
Fixed maturities held-to-maturity, fair value | 223,533 | 193,739 |
Available-for-sale equity securities, amortized cost basis | 45,883 | 52,744 |
Real estate held for investment, accumulated depreciation | 1,429 | 1,287 |
Due premiums, allowance for doubtful accounts | $1,429 | $1,345 |
Common Stock Class A [Member] | ' | ' |
Stockholders' equity: | ' | ' |
Common stock, par value (in dollars per share) | $0 | $0 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 52,215,852 | 52,215,852 |
Common stock, shares outstanding (in shares) | 52,215,852 | 52,215,852 |
Common stock, shares in treasury (in shares) | 3,135,738 | 3,135,738 |
Common Stock Class B [Member] | ' | ' |
Stockholders' equity: | ' | ' |
Common stock, par value (in dollars per share) | $0 | $0 |
Common stock, shares authorized (in shares) | 2,000,000 | 2,000,000 |
Common stock, shares issued (in shares) | 1,001,714 | 1,001,714 |
Common stock, shares outstanding (in shares) | 1,001,714 | 1,001,714 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Premiums: | ' | ' | ' |
Life insurance | $169,683 | $163,170 | $154,778 |
Accident and health insurance | 1,529 | 1,635 | 1,561 |
Property insurance | 4,946 | 5,068 | 5,056 |
Net investment income | 36,597 | 31,725 | 30,099 |
Realized investment gains, net | -247 | 196 | 765 |
Decrease in fair value of warrants | 0 | 451 | 1,136 |
Other income | 1,128 | 514 | 761 |
Total revenue | 213,636 | 202,759 | 194,156 |
Insurance benefits paid or provided: | ' | ' | ' |
Claims and surrenders | 64,427 | 64,656 | 60,056 |
Increase in future policy benefit reserves | 74,220 | 66,676 | 58,264 |
Policyholders' dividends | 9,470 | 9,091 | 8,072 |
Total insurance benefits paid or provided | 148,117 | 140,423 | 126,392 |
Commissions | 40,477 | 39,398 | 38,374 |
Other general expenses | 26,590 | 25,664 | 26,040 |
Capitalization of deferred policy acquisition costs | 29,398 | 29,074 | 27,826 |
Amortization of deferred policy acquisition costs | 18,511 | 17,845 | 16,848 |
Amortization of cost of customer relationships acquired | 2,408 | 2,467 | 2,998 |
Total benefits and expenses | 206,705 | 196,723 | 182,826 |
Income before federal income tax | 6,931 | 6,036 | 11,330 |
Federal income tax expense | 2,138 | 1,507 | 2,848 |
Net income | 4,793 | 4,529 | 8,482 |
Unrealized gains on available-for-sale securities: | ' | ' | ' |
Unrealized Holding Gains Arising During the Period Less Effects of DAC and CCRA, Before Tax | -34,183 | 15,130 | 29,589 |
Reclassification adjustments for gains included in net income | 227 | 105 | -1,277 |
Unrealized gains (losses) on available-for-sale securities, net | -33,956 | 15,235 | 28,312 |
Income tax expense on unrealized gains on available-for-sale securities | -11,864 | 5,520 | 10,479 |
Other comprehensive income (loss) | -22,092 | 9,715 | 17,833 |
Total comprehensive loss | ($17,299) | $14,244 | $26,315 |
Common Stock Class A [Member] | ' | ' | ' |
Earnings Per Share [Abstract] | ' | ' | ' |
Earnings Per Share, Basic and Diluted | $0.10 | $0.09 | $0.17 |
Common Stock Class B [Member] | ' | ' | ' |
Earnings Per Share [Abstract] | ' | ' | ' |
Earnings Per Share, Basic and Diluted | $0.05 | $0.05 | $0.09 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (USD $) | Total | Common Class A [Member] | Common Class B [Member] | Accumulated deficit [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury stock [Member] |
In Thousands, except Share data | ||||||
Balance at Dec. 31, 2010 | $219,884 | $256,703 | $3,184 | ($30,331) | $1,339 | ($11,011) |
Balance, shares at Dec. 31, 2010 | ' | 51,822,000 | 1,002,000 | ' | ' | -3,136,000 |
Net income | 8,482 | ' | ' | 8,482 | ' | ' |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 17,833 | ' | ' | ' | 17,833 | ' |
Total comprehensive loss | 26,315 | ' | ' | 8,482 | 17,833 | ' |
Warrants exercised | 1,843 | 1,845 | ' | -2 | ' | ' |
Total stock issued, shares | ' | 267,000 | 0 | ' | ' | 0 |
Balance at Dec. 31, 2011 | 248,042 | 258,548 | 3,184 | -21,851 | 19,172 | -11,011 |
Balance, shares at Dec. 31, 2011 | ' | 52,089,000 | 1,002,000 | ' | ' | -3,136,000 |
Net income | 4,529 | ' | ' | 4,529 | ' | ' |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 9,715 | ' | ' | ' | 9,715 | ' |
Total comprehensive loss | 14,244 | ' | ' | 4,529 | 9,715 | ' |
Warrants exercised | 822 | 835 | ' | -13 | ' | ' |
Warrants exercised, shares | ' | 127,000 | 0 | ' | ' | 0 |
Balance at Dec. 31, 2012 | 263,108 | 259,383 | 3,184 | -17,335 | 28,887 | -11,011 |
Balance, shares at Dec. 31, 2012 | ' | 52,216,000 | 1,002,000 | ' | ' | -3,136,000 |
Net income | 4,793 | ' | ' | 4,793 | ' | ' |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | -22,092 | ' | ' | ' | -22,092 | ' |
Total comprehensive loss | -17,299 | ' | ' | 4,793 | -22,092 | ' |
Warrants exercised, shares | ' | 0 | 0 | ' | ' | 0 |
Balance at Dec. 31, 2013 | $245,809 | $259,383 | $3,184 | ($12,542) | $6,795 | ($11,011) |
Balance, shares at Dec. 31, 2013 | ' | 52,216,000 | 1,002,000 | ' | ' | -3,136,000 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities: | ' | ' | ' |
Net income | $4,793 | $4,529 | $8,482 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Realized gains on sale of investments and other assets | 247 | -196 | -765 |
Net deferred policy acquisition costs | -10,887 | -11,229 | -10,978 |
Amortization of cost of customer relationships acquired | 2,408 | 2,467 | 2,998 |
Decrease in fair value of warrants | 0 | -451 | -1,136 |
Depreciation | 1,257 | 1,233 | 1,057 |
Amortization of premiums and discounts on investments | 8,916 | 6,082 | 4,207 |
Deferred federal income tax expense (benefit) | -3,733 | -2,159 | -1,776 |
Change in: | ' | ' | ' |
Accrued investment income | -1,947 | -2,517 | -354 |
Reinsurance recoverable | 5,257 | -89 | 167 |
Due premiums | -682 | -1,358 | -632 |
Future policy benefit reserves | 69,933 | 66,394 | 57,999 |
Other policyholders' liabilities | 3,820 | 5,200 | 2,761 |
Federal income tax receivable | 860 | 631 | 1,013 |
Commissions payable and other liabilities | 732 | 516 | 1,408 |
Other, net | 440 | 217 | -170 |
Net cash provided by operating activities | 81,414 | 69,270 | 64,281 |
Cash flows from investing activities: | ' | ' | ' |
Sale of fixed maturities, available-for-sale | 316 | 576 | 0 |
Maturities and calls of fixed maturities, available-for-sale | 54,273 | 156,863 | 199,730 |
Maturities and calls of fixed maturities, held-to-maturity | 38,413 | 169,880 | 83,611 |
Purchase of fixed maturities, available-for-sale | -105,827 | -220,401 | -110,356 |
Purchase of fixed maturities, held-to-maturity | -75,365 | -145,770 | -230,985 |
Sale of equity securities, available-for-sale | 5,996 | 2,855 | 7,504 |
Calls of equity securities, available-for-sale | 500 | 920 | 682 |
Purchase of equity securities, available-for-sale | 0 | -10,000 | -32,504 |
Principal payments on mortgage loans | 838 | 48 | 48 |
Increase in policy loans, net | -5,875 | -3,903 | -3,480 |
Sale of other long-term investments | 2 | 5 | 5 |
Purchase of other long-term investments | -86 | -116 | -33 |
Purchase of property and equipment | -393 | -619 | -1,800 |
Sale of property and equipment | 0 | 0 | 2 |
Maturity of short-term investments | 2,872 | 2,000 | 0 |
Purchase of short-term investments | -531 | -2,378 | -2,048 |
Proceeds from assumption reinsurance agreement | 0 | 0 | 4,550 |
Net cash used in investing activities | -84,867 | -50,040 | -85,074 |
Cash flows from financing activities: | ' | ' | ' |
Warrants exercised | 0 | 822 | 1,843 |
Annuity deposits | 6,296 | 7,030 | 6,380 |
Annuity withdrawals | -4,549 | -4,038 | -3,898 |
Net cash provided by financing activities | 1,747 | 3,814 | 4,325 |
Net increase (decrease) in cash and cash equivalents | -1,706 | 23,044 | -16,468 |
Cash and cash equivalents at beginning of year | 56,299 | 33,255 | 49,723 |
Cash and cash equivalents at end of year | 54,593 | 56,299 | 33,255 |
Cash paid during the period for income taxes, net | $5,011 | $3,036 | $3,612 |
Consolidated_Statements_of_Cas1
Consolidated Statements of Cash Flows (Parenthetical) (USD $) | 12 Months Ended |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2011 |
Mortgage loan issued for sold real estate | $116 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ||||||||||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' | ||||||||||
Summary of Significant Accounting Policies | |||||||||||
Basis of Presentation and Consolidation | |||||||||||
The accompanying consolidated financial statements of Citizens, Inc. and its wholly-owned subsidiaries have been prepared in conformity with U.S. generally accepted accounting principles ("U.S. GAAP"). | |||||||||||
The consolidated financial statements include the accounts and operations of Citizens, Inc. ("Citizens"), a Colorado corporation, and its wholly-owned subsidiaries, CICA Life Insurance Company of America ("CICA"), Citizens National Life Insurance Company ("CNLIC"), Security Plan Life Insurance Company ("SPLIC"), Security Plan Fire Insurance Company ("SPFIC"), Computing Technology, Inc. ("CTI"), and Insurance Investors, Inc. ("III"). All significant inter-company accounts and transactions have been eliminated. Citizens and its wholly-owned subsidiaries are collectively referred to as "the Company", "we," or "our." | |||||||||||
We provide primarily life insurance, as well as a small amount of health insurance policies, through three of our subsidiaries - CICA, SPLIC, and CNLIC. CICA and CNLIC issue ordinary whole-life policies, burial insurance, pre-need policies, and accident and health related policies throughout the Midwest and southern United States. CICA also issues ordinary whole-life policies to non-U.S. residents. SPLIC offers final expense and home service life insurance in Louisiana, Arkansas and Mississippi, and SPFIC, a wholly-owned subsidiary of SPLIC, writes a limited amount of property insurance in Louisiana. | |||||||||||
CTI provides data processing systems and services, as well as furniture and equipment, to the Company. III provides aviation transportation to the Company. | |||||||||||
Significant Accounting Policies | |||||||||||
Investments | |||||||||||
Investment securities are classified as held-to-maturity, available-for-sale or trading. Management determines the appropriate classification at the time of purchase. The classification of securities is significant since it directly impacts the accounting for unrealized gains and losses on securities. Fixed maturity securities are classified as held-to-maturity and carried at amortized cost when management has the positive intent and the Company has the ability to hold the securities to maturity. Securities not classified as held-to-maturity are classified as available-for-sale and are carried at fair value, with the unrealized holding gains and losses, net of tax, reported in other comprehensive income and do not affect earnings until realized. Fixed maturities consist primarily of bonds classified as available-for-sale or held-to-maturity. The Company does not classify any fixed maturities as trading. Equity securities (including non-redeemable preferred stock) are considered available-for-sale and are reported at fair value. | |||||||||||
Unrealized appreciation (depreciation) of equity securities and fixed maturities held as available-for-sale is shown as a separate component of stockholders' equity, net of tax, and is a separate component of comprehensive income. | |||||||||||
The Company evaluates all securities on a quarterly basis, and more frequently when economic conditions warrant additional evaluations, for determining if an other-than-temporary impairment ("OTTI") exists pursuant to the accounting guidelines. In evaluating the possible impairment of securities, consideration is given to the length of time and the extent to which the fair value has been less than cost, the financial conditions and near-term prospects of the issuer, and the ability and intent of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. In analyzing an issuer’s financial condition, the Company may consider whether the securities are issued by the Federal government or its agencies, by government-sponsored agencies, or whether downgrades by bond rating agencies have occurred, and reviews of the issuer’s financial condition. | |||||||||||
If management determines that an investment experienced an OTTI, management must then determine the amount of OTTI to be recognized in earnings. If management does not intend to sell the security and it is more likely than not that the Company will not be required to sell the security before recovery of its amortized cost basis less any current period loss, the OTTI will be separated into the amount representing the credit loss and the amount related to all other factors. The amount of OTTI related to the credit loss is determined based on the present value of cash flows expected to be collected and is recognized in earnings. The amount of OTTI related to other factors will be recognized in other comprehensive income, net of applicable taxes. The previous amortized cost basis less the OTTI recognized in earnings will become the new amortized cost basis of the investment. If management intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis less any current period credit loss, the OTTI will be recognized in earnings equal to the entire difference between the investment's amortized cost basis and its fair value at the balance sheet date. Any recoveries related to the value of these securities are recorded as an unrealized gain (as other comprehensive income (loss) in stockholders' equity) and not recognized in income until the security is ultimately sold. | |||||||||||
The Company from time to time may dispose of an impaired security in response to asset/liability management decisions, future market movements, business plan changes, or if the net proceeds can be reinvested at a rate of return that is expected to recover the loss within a reasonable period of time. | |||||||||||
Mortgage loans on real estate and policy loans are reported at unpaid principal balances. | |||||||||||
Real estate and other long-term investments consist primarily of land and buildings that are recorded at depreciated cost. If the fair value of the real estate is less than the carrying value, an impairment loss is recognized and charged to earnings. | |||||||||||
Premiums and discounts are amortized or accreted over the life of the related security as an adjustment to yield using the effective interest method. Dividend and interest income is recognized when earned. Realized gains and losses are included in earnings and are derived using the specific identification method for determining the cost of securities sold. | |||||||||||
The Company had cash equivalents and fixed maturities with an aggregate fair value of $9.3 million and $10.2 million at December 31, 2013 and 2012, respectively, on deposit with various state regulatory authorities to fulfill statutory requirements. | |||||||||||
Premium Revenue and Related Expenses | |||||||||||
Premiums on life policies are recognized as earned when due. Due premiums on the balance sheet are net of allowances. Accident and health policies are recognized as revenue over the contract period on a pro rata basis. Benefits and expenses are associated with earned premiums so as to result in the recognition of profits over the estimated lives of the contracts. This matching is accomplished by means of a provision for future policy benefits and the capitalization and amortization of deferred policy acquisition costs. | |||||||||||
Annuity policies, primarily flexible premium fixed annuity products, are accounted for in a manner consistent with accounting for interest bearing financial instruments. Premium receipts are not reported as revenue, rather as deposit liabilities to annuity contracts. The annuity products issued do not include fees or other such charges. | |||||||||||
Deferred Policy Acquisition Costs and Cost of Customer Relationships Acquired | |||||||||||
Acquisition costs, consisting of commissions and policy issuance, underwriting and agent convention expenses that are primarily related to and vary with the successful production of new and renewal business, have been deferred. These deferred amounts, referred to as deferred policy acquisition costs ("DAC"), are recorded as an asset on the balance sheet and amortized to income in a systematic manner, based on related contract revenues or gross profits as appropriate. | |||||||||||
Traditional life insurance and accident and health insurance acquisition costs are being amortized over the premium paying period of the related policies using assumptions consistent with those used in computing future policy benefit liabilities. For universal life type contracts and investment contracts that include significant surrender charges or that yield significant revenues from sources other than the investment contract holders' funds, the deferred contract acquisition cost amortization is matched to the recognition of gross profit. The effect on the DAC asset that would result from realization of unrealized gains or losses is recognized with an offset to accumulated other comprehensive income in consolidated stockholders' equity. If an internal replacement of insurance or investment contract modification substantially changes a contract as defined in current accounting guidance, then the DAC is written off immediately through income and any new deferrable costs associated with the new replacement are deferred. If a contract modification does not substantially change the contract, the DAC amortization on the original contract will continue and any acquisition costs associated with the related modification are immediately expensed. | |||||||||||
We utilize the factor method to determine the amount of costs to be capitalized and the ending asset balance. The factor method is based on the ratio of premium revenue recognized for the policies in force at the end of each reporting period compared to the premium revenue recognized for policies in force at the beginning of the reporting period. The factor method ensures that policies lapsed or surrendered during the reporting period are no longer included in the deferred policy acquisition costs calculation. The factor method limits the amount of deferred costs to its estimated realizable value, provided actual experience is comparable to that contemplated in the factors. | |||||||||||
Inherent in the capitalization and amortization of deferred policy acquisition costs are certain management judgments about what acquisition costs are deferred, the ending asset balance and the annual amortization. Approximately 91% of our capitalized deferred acquisition costs are attributed to first year and renewal excess commissions. The remaining 9% are attributed to costs that vary with and are directly related to the acquisition of new insurance business. Those costs generally include costs related to the production, underwriting and issuance of new business. | |||||||||||
A recoverability test that considers, among other things, actual experience and projected future experience is performed at least annually. These annual recoverability tests initially calculate the available premium (gross premium less the benefit and expense portion of premium) for the next 30 years. The available premium per policy and the deferred policy acquisition costs per policy are then calculated. The deferred policy acquisition costs are then evaluated over two methods utilizing reasonable assumptions and two other methods using pessimistic assumptions. Management believes that our deferred policy acquisition costs and related amortization for the years ended December 31, 2013, 2012 and 2011 limits the amount of deferred costs to its estimated realizable value. This belief is based upon the analysis performed on capitalized expenses that vary with and are primarily related to the acquisition of new and renewal insurance business, utilization of the factor method and annual recoverability testing. | |||||||||||
The components of deferred acquisition costs from year to year are summarized as follows: | |||||||||||
For the Years Ended December 31, | |||||||||||
2013 | 2012 | 2011 | |||||||||
(In thousands) | |||||||||||
Balance at beginning of period | $ | 135,569 | 124,542 | 113,761 | |||||||
Capitalized | 29,398 | 29,074 | 27,826 | ||||||||
Amortized | (18,511 | ) | (17,845 | ) | (16,848 | ) | |||||
Effects of unrealized (gains) losses | 235 | (202 | ) | (197 | ) | ||||||
Balance at end of period | $ | 146,691 | 135,569 | 124,542 | |||||||
Cost of customer relationships acquired ("CCRA") is established when we purchase a block of insurance. CCRA is amortized primarily over the emerging profit of the related policies using the same assumptions as were used in computing liabilities for future policy benefits. We utilize various methods to determine the amount of the ending asset balance, including a static model and a dynamic model. Inherent in the amortization of CCRA are certain management judgments about the ending asset balance and the annual amortization. The assumptions used are based upon interest, mortality and lapses at the time of purchase. | |||||||||||
A recoverability test that considers, among other things, actual experience and projected future experience is performed at least annually. These annual recoverability tests initially calculate the available premium (gross premium less the benefit and expense portion of premium) for the next thirty years. The CCRA is then evaluated utilizing reasonable assumptions. Management believes that our CCRA and related amortization is recoverable for the years ended December 31, 2013, 2012 and 2011. This belief is based upon the analysis performed on estimated future results of the block and our annual recoverability testing. | |||||||||||
Cost of customer relationships acquired relative to purchased blocks of insurance is summarized as follows: | |||||||||||
For the Years Ended December 31, | |||||||||||
2013 | 2012 | 2011 | |||||||||
(In thousands) | |||||||||||
Balance at beginning of period | $ | 25,116 | 27,945 | 31,631 | |||||||
Amortization | (2,408 | ) | (2,467 | ) | (2,998 | ) | |||||
Change in effects of unrealized (gains) losses on CCRA | 666 | (362 | ) | (688 | ) | ||||||
Balance at end of period | $ | 23,374 | 25,116 | 27,945 | |||||||
Estimated amortization of cost of customer relationship acquired in each of the next five years and thereafter is as follows. Actual future amortization will differ from these estimates due to variances from estimated future withdrawal assumptions. | |||||||||||
Amount | |||||||||||
(In thousands) | |||||||||||
Year: | |||||||||||
2014 | $ | 1,924 | |||||||||
2015 | 1,742 | ||||||||||
2016 | 1,612 | ||||||||||
2017 | 1,478 | ||||||||||
2018 | 1,358 | ||||||||||
Thereafter | 15,659 | ||||||||||
23,773 | |||||||||||
Effects of unrealized (gains) losses on CCRA | (399 | ) | |||||||||
Total | $ | 23,374 | |||||||||
The value of CCRA in our various acquisitions, which is included in cost of customer relationships acquired in the accompanying consolidated financial statements, was determined based on the present value of future profits discounted at annual rates ranging from 4.5% to 8.5%. | |||||||||||
Future Policy Benefits and Expenses | |||||||||||
Future policy benefit reserves for traditional life insurance and accident and health insurance contract benefits and expenses are computed using a net level premium method, with assumptions as to investment yields, dividends on participating business, mortality and withdrawals based upon our experience, modified as necessary to reflect anticipated trends and to include provisions for possible unfavorable deviations. | |||||||||||
The accrued account balance for non-traditional life insurance and investment contracts is computed as deposits net of withdrawals made by the contract holder, plus amounts credited based on contract specifications, less contract fees and charges assessed, plus any additional interest. Annuity interest crediting rates range from 3.0% to 5.5% annually. Benefits and expenses are charged against the account balance to recognize costs as incurred over the estimated lives of the contracts. Expenses include interest credited to contract account balances and benefits paid in excess of contract account balances. | |||||||||||
Unpaid claims on accident and health policies represent the estimated liability for benefit expenses, both reported but not paid and incurred but not reported to the Company. Liabilities for unpaid claims are estimated using individual case basis valuations and statistical analyses. Those estimates are subject to the effects of trends in claim severity and frequency. | |||||||||||
Anticipated investment income is not considered in determining whether a premium deficiency exists with respect to short-duration contracts. Premium deposits accrue interest at rates ranging from 4.0% to 8.25% per annum. The cost of insurance is included in the premium when collected and interest is credited annually to deposit accounts. | |||||||||||
The development of liabilities for future policy benefits requires management to make estimates and assumptions regarding mortality, morbidity, lapse, expense, and investment experience. These estimates are based primarily on historical experience and future expectations of mortality, morbidity, expense, persistency, and investment assumptions. Actual results could differ materially from estimates. We monitor actual experience and revise assumptions as necessary. | |||||||||||
Goodwill and Other Intangible Assets | |||||||||||
Goodwill is the difference between the purchase price in a business combination and the fair value of assets and liabilities acquired, and is not amortized. Other intangible assets include various state insurance licenses, which have been determined to have indefinite useful lives and, therefore, are not amortized. Both goodwill and other intangible assets with indefinite useful lives are subject to annual impairment analyses. | |||||||||||
The goodwill impairment test uses a two step process as set forth under current accounting guidance. In the first step, the fair value of a reporting unit is compared to its carrying value. If the carrying value of a reporting unit exceeds its fair value, the second step of the impairment test is performed for purposes of measuring the impairment. In the second step, the fair value of the reporting unit is allocated to all of the assets and liabilities of the reporting unit to determine an implied goodwill value. If the carrying amount of the reporting unit goodwill exceeds the implied goodwill value, an impairment loss is recognized in an amount equal to that excess. | |||||||||||
Management's determination of the fair value of each reporting unit incorporates multiple inputs including discounted cash flow calculations, peer company price to earnings multiples, the level of the Company's Class A common stock price and assumptions that market participants would make in valuing the reporting unit. Other assumptions can include levels of economic capital, future business growth, and earnings projections. | |||||||||||
As of December 31, 2013, the Company had goodwill of $12.6 million allocated to the Life Insurance segment and $4.5 million allocated to the Home Service Insurance segment. The Company completes its annual goodwill assessment for the individual reporting units within the Life Insurance segment and Home Service Insurance segment as of December 31 each year. There was no impairment of goodwill in 2013, 2012 or 2011. | |||||||||||
Goodwill is summarized as follows: | |||||||||||
Net Amount | |||||||||||
(In thousands) | |||||||||||
Balance at January 1, 2011 | $ | 17,160 | |||||||||
Acquisition | — | ||||||||||
Adjustments | — | ||||||||||
Balance at December 31, 2011, 2012 and 2013 | $ | 17,160 | |||||||||
Participating Policies | |||||||||||
At December 31, 2013 and 2012, participating business approximated 60.7% and 60.8%, respectively, of direct life insurance in force. | |||||||||||
Future policy benefits on participating policies are estimated based on net level premium reserves for death and endowment policy benefits with interest rates ranging from 3% to 8%, and the cash surrender values described in such contracts. The scaling rate used for the 2013 portfolio ranged between 3.7% for 2 years and then going up to 5% over 15 years and remaining there for the duration. Earnings and dividends on participating policies are allocated based on policies in force. | |||||||||||
Policyholder dividends are determined based on the discretion of the Board of Directors of the policy issuing subsidiary. Policyholder dividends are accrued over the premium paying periods of the insurance contract. | |||||||||||
Earnings Per Share | |||||||||||
Basic earnings per share are computed by dividing income available to common stockholders by the weighted average number of shares of common stock outstanding during each period. Diluted earnings per share are computed under the if-converted method for convertible securities and the treasury stock method for warrants, giving effect to all potential dilutive common stock, including options, warrants and convertible/redeemable preferred stock. The basic and diluted earnings per share of Class B common stock are one half the earnings per share of the Class A common stock. | |||||||||||
During 2011, the warrants associated with the Series A-1 Preferred Stock were either exercised or expired on July 12, 2011. Shares issued from the exercise of warrants totaled 255,216, and 1,989 common Class A shares were issued under a cashless provision in the Preferred Stock contract. Additionally, 9,487 shares were issued from the exercise of warrants at various dates in 2011. During 2012, the warrants associated with the Series A-2 Preferred Stock were either exercised or expired. Shares issued from the exercise of warrants totaled 113,057 and 13,606 common Class A shares were issued under a cashless provision in the Preferred Stock contract. | |||||||||||
The following table sets forth the computation of basic and diluted earnings per share. | |||||||||||
Years Ended December 31, | |||||||||||
2013 | 2012 | 2011 | |||||||||
(In thousands, except per share amounts) | |||||||||||
Basic and diluted earnings per share: | |||||||||||
Numerator: | |||||||||||
Net income | $ | 4,793 | 4,529 | 8,482 | |||||||
Net income allocated to Class A common stock | $ | 4,745 | 4,483 | 8,397 | |||||||
Net income allocated to Class B common stock | 48 | 46 | 85 | ||||||||
Net income | $ | 4,793 | 4,529 | 8,482 | |||||||
Denominator: | |||||||||||
Weighted average shares of Class A outstanding - basic | 49,080 | 49,005 | 48,809 | ||||||||
Weighted average shares of Class B outstanding - basic and diluted | 1,002 | 1,002 | 1,002 | ||||||||
Total weighted average shares outstanding - basic | 50,082 | 50,007 | 49,811 | ||||||||
Basic and diluted earnings per share of Class A common stock | $ | 0.1 | 0.09 | 0.17 | |||||||
Basic and diluted earnings per share of Class B common stock | 0.05 | 0.05 | 0.09 | ||||||||
Income Taxes | |||||||||||
Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered. | |||||||||||
A deferred tax asset is recorded only if a determination is made that it is more-likely-than-not that the tax treatment on which the deferred tax asset depends will be sustained in the event of an audit. These determinations inherently involve management's judgment. In addition, the Company must record a tax valuation allowance with respect to deferred tax assets if it is more-likely-than-not that the tax benefit will not be realized. This valuation allowance is in essence a contra account to the deferred tax asset. Management must determine the portion of the deferred tax asset and resulting tax benefit that may not be realized based upon judgment of expected outcomes. Due to significant estimates utilized in establishing the valuation allowance and the potential for changes in facts and circumstances, it is reasonably possible that we will be required to record adjustments to the valuation allowance in future reporting periods. Such a charge could have a material adverse effect on our results of operations, financial condition and capital position. | |||||||||||
Property and Equipment | |||||||||||
Property and equipment, including leasehold improvements, are carried at cost less accumulated depreciation. Depreciation of property and equipment is computed using the straight-line method over the useful lives of the assets, ranging from three to thirty years. We amortize leasehold improvements over the shorter of the related lease term or the estimated life of the improvements. The Company has no capital leases. | |||||||||||
The following is a summary of property and equipment. | |||||||||||
For the Years Ended December 31, | |||||||||||
2013 | 2012 | ||||||||||
(In thousands) | |||||||||||
Property and equipment: | |||||||||||
Home office, land and buildings | $ | 9,696 | 9,511 | ||||||||
Furniture and equipment | 2,472 | 2,464 | |||||||||
Electronic data processing equipment | 4,170 | 4,083 | |||||||||
Automobiles and marine assets | 373 | 382 | |||||||||
Airplane | 3,345 | 3,282 | |||||||||
Total property and equipment | 20,056 | 19,722 | |||||||||
Accumulated depreciation | (13,394 | ) | (12,339 | ) | |||||||
Balance at end of period | $ | 6,662 | 7,383 | ||||||||
Reinsurance Recoverable | |||||||||||
Reinsurance recoverable includes expected reimbursements for policyholder claim amounts in excess of the Company's retention, as well as profit sharing and experience refund accruals. Reinsurance recoverable is reduced for estimated uncollectible amounts, if any. | |||||||||||
Reinsurance premiums, losses and adjustment expenses are accounted for on a basis consistent with those used in accounting for the original policies issued and the terms of the reinsurance contracts. The cost of reinsurance related to long duration contracts is accounted for over the life of the underlying reinsured policies using assumptions consistent with those used to account for the underlying policies. The cost of reinsurance related to short duration contracts is accounted for over the coverage period. Profit-sharing and similar adjustable provisions are accrued based on the experience of the underlying policies. | |||||||||||
Cash Equivalents | |||||||||||
The Company considers as cash equivalents all securities whose duration does not exceed 90 days at the date of acquisition. | |||||||||||
Short-term Investments | |||||||||||
The Company considers investments maturing within one year at acquisition as short-term. These securities are carried at amortized cost, which approximates market value. | |||||||||||
Depreciation | |||||||||||
Depreciation on most property and equipment is calculated on a straight-line basis using estimated useful lives ranging from three to ten years. Building improvements are depreciated over the estimated lives of thirty years. | |||||||||||
Commissions Payable | |||||||||||
The Company recorded a reduction of approximately $0.4 million in commission expense for the year ended 2012 due to balances that were held pending validation that are no longer considered payable. | |||||||||||
Use of Estimates | |||||||||||
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from these estimates. | |||||||||||
Reserving assumptions are reviewed to ensure our original assumptions at the time of policy issuance that related to interest, mortality, withdrawals, and settlement expenses are based upon management’s best judgment. In 2013 and 2012, the Company revised assumptions used in the development of reserve and DAC balances to reflect the current assumptions. The adjustment resulted in a decrease of approximately $0.2 million to reserves and an increase in the DAC asset of approximately $0.2 million for 2013 and an increase of $0.2 million to reserves and a decrease of $0.1 million related to the DAC asset in 2012, respectively. | |||||||||||
Miscellaneous Income | |||||||||||
Certain items have been recorded to miscellaneous income in the current year that relate to two corrections resulting from prior year transactions. We identified certain SPLIC acquisition conversion items where the benefit had been paid prior to acquisition. These records were incorrectly converted to the insurance inforce during 2005. The items have been written off in the current year and totaled $0.2 million. The second correction related to checks issued for policy benefit funds on terminated policies where the benefit should have been used to extend the insurance contract prior to termination. These amounts have also been written off in the current reporting period and totaled $0.3 million. These amounts are related to prior periods from 2008 to 2010. | |||||||||||
Reclassifications | |||||||||||
Certain amounts presented in prior years have been reclassified to conform to the current presentation. No individual amounts were material. | |||||||||||
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | ' | ||||||||||
Accounting Pronouncements and Regulatory Reform | |||||||||||
Accounting Standards Recently Adopted | |||||||||||
In February 2013, the FASB issued ASU No. 2013-02, “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income” (“ASU 2013-02”), which requires enhanced reporting of such amounts either on the face of the financial statements or in the notes to the financial statements. Under ASU 2013-02, the type of reclassification out of accumulated other comprehensive income, as defined under current GAAP, will dictate whether the disclosure must provide the effect of the reclassification on the respective financial statement line items or whether cross-referencing to other disclosures that provide additional detail about the reclassification will be required. The amendments in ASU 2013-02 are effective prospectively for reporting periods beginning after December 15, 2012. We have included the enhanced disclosures in the financial statements. | |||||||||||
Health Care Reform | |||||||||||
The Affordable Care Act, was passed by the U.S. Congress in 2010. The Company has considered its medical and dental plans provided for employees and agents. While the Company will incur additional costs associated with the implementation of this Act, it does not believe these costs or ongoing costs associated with this Act will have a material impact to the consolidated financial statements. The Company does not provide a separate prescription drug plan to its retirees. In addition, the Company does not sell any medical insurance or prescription drug coverage. However, the Company does sell dental insurance but believes the impact of this Act is immaterial to these products. The Company will continue to assess the information contained in this Act as additional guidance becomes available and as additional implications are understood or clarified. | |||||||||||
Financial Reform | |||||||||||
The Dodd-Frank Wall Street Reform and Consumer Protection Act (“the “Financial Reform Act”) includes a provision to establish a Federal Insurance Office with the primary purpose of collecting information to better understand insurance issues at the federal level and to monitor the extent to which traditional underserved communities and consumers, minorities and low and moderate income persons have access to affordable insurance products. The Financial Reform Act also contains provisions affecting financial institutions, credit rating agencies and other commercial and consumer businesses. |
Investments_Debt_And_Equity_Se
Investments Debt And Equity Securities (Notes) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ' | |||||||||||||||||||||||||||
Investments | ||||||||||||||||||||||||||||
The Company invests primarily in fixed maturity securities, which totaled 83.9% of total investments and cash and cash equivalents at December 31, 2013. Holdings in high quality fixed maturity securities rated A or higher by Standard & Poor's, Inc. totaled 81.2% of investment holdings in this category, reflecting the conservative investment philosophy of the Company. | ||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||||
Carrying | % of Total | Carrying | % of Total | |||||||||||||||||||||||||
Value | Carrying Value | Value | Carrying Value | |||||||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||||||
Fixed maturity securities | $ | 832,952 | 83.9 | $ | 791,528 | 82.7 | ||||||||||||||||||||||
Equity securities | 47,259 | 4.8 | 53,741 | 5.6 | ||||||||||||||||||||||||
Mortgage loans | 671 | 0.1 | 1,509 | 0.2 | ||||||||||||||||||||||||
Policy loans | 48,868 | 4.8 | 42,993 | 4.5 | ||||||||||||||||||||||||
Real estate and other long-term investments | 8,485 | 0.9 | 8,553 | 0.9 | ||||||||||||||||||||||||
Short-term investments | — | — | 2,340 | 0.2 | ||||||||||||||||||||||||
Cash and cash equivalents | 54,593 | 5.5 | 56,299 | 5.9 | ||||||||||||||||||||||||
Total cash, cash equivalents and investments | $ | 992,828 | 100 | $ | 956,963 | 100 | ||||||||||||||||||||||
The cost, gross unrealized gains and losses and fair value of investments in fixed maturities and equity securities, as of December 31, 2013 and 2012, are as follows. | ||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
Cost or | Gross | Gross | Fair | |||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Value | |||||||||||||||||||||||||
Cost | Gains | Losses | ||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Fixed maturities: | ||||||||||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||
U.S. Treasury securities | $ | 10,115 | 2,348 | — | 12,463 | |||||||||||||||||||||||
U.S. Government-sponsored enterprises | 53,587 | 1,209 | 228 | 54,568 | ||||||||||||||||||||||||
States and political subdivisions | 341,673 | 6,242 | 11,449 | 336,466 | ||||||||||||||||||||||||
Foreign governments | 104 | 23 | — | 127 | ||||||||||||||||||||||||
Corporate | 186,671 | 12,289 | 1,399 | 197,561 | ||||||||||||||||||||||||
Commercial mortgage-backed | 300 | 9 | — | 309 | ||||||||||||||||||||||||
Residential mortgage-backed | 3,494 | 270 | 2 | 3,762 | ||||||||||||||||||||||||
Total available-for-sale securities | 595,944 | 22,390 | 13,078 | 605,256 | ||||||||||||||||||||||||
Held-to-maturity securities: | ||||||||||||||||||||||||||||
U.S. Government-sponsored enterprises | 8,877 | 197 | 3 | 9,071 | ||||||||||||||||||||||||
States and political subdivisions | 181,246 | 1,633 | 6,412 | 176,467 | ||||||||||||||||||||||||
Corporate | 37,573 | 771 | 349 | 37,995 | ||||||||||||||||||||||||
Total held-to-maturity securities | 227,696 | 2,601 | 6,764 | 223,533 | ||||||||||||||||||||||||
Total fixed maturity securities | $ | 823,640 | 24,991 | 19,842 | 828,789 | |||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||
Stock mutual funds | $ | 10,463 | 1,506 | — | 11,969 | |||||||||||||||||||||||
Bond mutual funds | 35,080 | — | 417 | 34,663 | ||||||||||||||||||||||||
Common stock | 17 | — | 5 | 12 | ||||||||||||||||||||||||
Preferred stock | 323 | 292 | — | 615 | ||||||||||||||||||||||||
Total equity securities | $ | 45,883 | 1,798 | 422 | 47,259 | |||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||
Cost or | Gross | Gross | Fair | |||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Value | |||||||||||||||||||||||||
Cost | Gains | Losses | ||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Fixed maturities: | ||||||||||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||
U.S. Treasury securities | $ | 10,170 | 3,773 | — | 13,943 | |||||||||||||||||||||||
U.S. Government-sponsored enterprises | 81,788 | 3,815 | 22 | 85,581 | ||||||||||||||||||||||||
States and political subdivisions | 265,812 | 17,227 | 777 | 282,262 | ||||||||||||||||||||||||
Foreign governments | 105 | 36 | — | 141 | ||||||||||||||||||||||||
Corporate | 195,755 | 20,536 | 286 | 216,005 | ||||||||||||||||||||||||
Commercial mortgage-backed | 481 | 17 | 2 | 496 | ||||||||||||||||||||||||
Residential mortgage-backed | 5,625 | 469 | 2 | 6,092 | ||||||||||||||||||||||||
Total available-for-sale securities | 559,736 | 45,873 | 1,089 | 604,520 | ||||||||||||||||||||||||
Held-to-maturity securities: | ||||||||||||||||||||||||||||
U.S. Government-sponsored enterprises | 28,632 | 514 | — | 29,146 | ||||||||||||||||||||||||
States and political subdivisions | 125,634 | 5,435 | 378 | 130,691 | ||||||||||||||||||||||||
Corporate | 32,742 | 1,160 | — | 33,902 | ||||||||||||||||||||||||
Total held-to-maturity securities | 187,008 | 7,109 | 378 | 193,739 | ||||||||||||||||||||||||
Total fixed maturity securities | $ | 746,744 | 52,982 | 1,467 | 798,259 | |||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||
Stock mutual funds | $ | 10,463 | 250 | 28 | 10,685 | |||||||||||||||||||||||
Bond mutual funds | 41,504 | 541 | 129 | 41,916 | ||||||||||||||||||||||||
Common stock | 17 | — | 2 | 15 | ||||||||||||||||||||||||
Preferred stock | 760 | 365 | — | 1,125 | ||||||||||||||||||||||||
Total equity securities | $ | 52,744 | 1,156 | 159 | 53,741 | |||||||||||||||||||||||
For investments of available-for-sale fixed maturities that have unrealized losses as of December 31, 2013, the cost, gross unrealized losses that have been in a continuous unrealized loss position for less than 12 months, gross unrealized losses that have been in a continuous unrealized loss position for 12 months or longer and fair value are as follows. | ||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
Less than 12 months | Greater than 12 months | Total | ||||||||||||||||||||||||||
Fair | Unrealized | # of | Fair | Unrealized | # of | Fair | Unrealized | # of | ||||||||||||||||||||
Value | Losses | Securities | Value | Losses | Securities | Value | Losses | Securities | ||||||||||||||||||||
(In thousands, except for # of securities) | ||||||||||||||||||||||||||||
Fixed maturities: | ||||||||||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||
U.S. Government-sponsored enterprises | $ | 14,032 | 228 | 12 | — | — | — | 14,032 | 228 | 12 | ||||||||||||||||||
States and political subdivisions | 183,280 | 9,872 | 203 | 15,673 | 1,577 | 16 | 198,953 | 11,449 | 219 | |||||||||||||||||||
Corporate | 35,789 | 1,048 | 25 | 2,426 | 351 | 2 | 38,215 | 1,399 | 27 | |||||||||||||||||||
Residential mortgage-backed | 57 | 1 | 3 | 42 | 1 | 1 | 99 | 2 | 4 | |||||||||||||||||||
Total available-for-sale securities | 233,158 | 11,149 | 243 | 18,141 | 1,929 | 19 | 251,299 | 13,078 | 262 | |||||||||||||||||||
Held-to-maturity securities: | ||||||||||||||||||||||||||||
U.S. Government-sponsored enterprises | 2,997 | 3 | 1 | — | — | — | 2,997 | 3 | 1 | |||||||||||||||||||
States and political subdivisions | 100,153 | 5,236 | 118 | 14,797 | 1,176 | 17 | 114,950 | 6,412 | 135 | |||||||||||||||||||
Corporate | 5,225 | 349 | 4 | — | — | — | 5,225 | 349 | 4 | |||||||||||||||||||
Total held-to-maturity securities | 108,375 | 5,588 | 123 | 14,797 | 1,176 | 17 | 123,172 | 6,764 | 140 | |||||||||||||||||||
Total fixed maturities | $ | 341,533 | 16,737 | 366 | 32,938 | 3,105 | 36 | 374,471 | 19,842 | 402 | ||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||
Bond mutual funds | $ | 34,663 | 417 | 7 | — | — | — | 34,663 | 417 | 7 | ||||||||||||||||||
Common stocks | 12 | 5 | 1 | — | — | — | 12 | 5 | 1 | |||||||||||||||||||
Total equities | $ | 34,675 | 422 | 8 | — | — | — | 34,675 | 422 | 8 | ||||||||||||||||||
The available-for-sale fixed maturities in a gross unrealized loss position for more than 12 months is primarily related to rises in interest rates which results in lower market prices on fixed maturity securities that have lower coupons than the current market rate. This is interest rate risk and is not a signal of impairment. Management has completed its assessment of other-than-temporary impairment of these securities. Based on our evaluation of the credit worthiness of the issuers and because we do not intend to sell the investments, nor is it likely that we would be required to sell these investments, before recovery of their amortized cost bases, which may be maturity, none of the unrealized losses are considered to be other-than-temporary. | ||||||||||||||||||||||||||||
We monitor all debt and equity securities on an on-going basis relative to changes in credit ratings, market prices, earnings trends and financial performance, in addition to specific region or industry reviews. Our impairment review, in accordance with current guidance, is performed by the Company at each reporting date and management uses its best judgment to decide if impairment is other-than-temporary. We determine other-than-temporary impairment by reviewing relevant evidence related to the specific security issuer, as well as our intent to sell the security or whether we more likely than not will be required to sell the security before its anticipated recovery. All securities with a market price below par were segregated and reviewed as of December 31, 2013 based upon the items above for impairment. | ||||||||||||||||||||||||||||
For investments of available-for-sale fixed maturities and equity securities that have unrealized losses as of December 31, 2012, the cost, gross unrealized losses that have been in a continuous unrealized loss position for less than 12 months, gross unrealized losses that have been in a continuous unrealized loss position for 12 months or longer and fair value are as follows. | ||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||
Less than 12 months | Greater than 12 months | Total | ||||||||||||||||||||||||||
Fair | Unrealized | # of | Fair | Unrealized | # of | Fair | Unrealized | # of | ||||||||||||||||||||
Value | Losses | Securities | Value | Losses | Securities | Value | Losses | Securities | ||||||||||||||||||||
(In thousands, except for # of securities) | ||||||||||||||||||||||||||||
Fixed maturities: | ||||||||||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||
U.S. Government-sponsored enterprises | $ | 10,603 | 22 | 9 | — | — | — | 10,603 | 22 | 9 | ||||||||||||||||||
States and political subdivisions | 54,115 | 443 | 61 | 5,099 | 334 | 2 | 59,214 | 777 | 63 | |||||||||||||||||||
Corporate | 22,316 | 286 | 16 | — | — | — | 22,316 | 286 | 16 | |||||||||||||||||||
Commercial mortgage-backed | 94 | 2 | 1 | — | — | — | 94 | 2 | 1 | |||||||||||||||||||
Residential mortgage-backed | — | — | — | 52 | 2 | 1 | 52 | 2 | 1 | |||||||||||||||||||
Total available-for-sale securities | 87,128 | 753 | 87 | 5,151 | 336 | 3 | 92,279 | 1,089 | 90 | |||||||||||||||||||
Held-to-maturity securities: | ||||||||||||||||||||||||||||
States and political subdivisions | 40,611 | 378 | 32 | — | — | — | 40,611 | 378 | 32 | |||||||||||||||||||
Total held-to-maturity securities | 40,611 | 378 | 32 | — | — | — | 40,611 | 378 | 32 | |||||||||||||||||||
Total fixed maturities | $ | 127,739 | 1,131 | 119 | 5,151 | 336 | 3 | 132,890 | 1,467 | 122 | ||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||
Stock mutual funds | $ | — | — | — | 972 | 28 | 1 | 972 | 28 | 1 | ||||||||||||||||||
Bond mutual funds | 3,335 | 88 | 1 | 2,959 | 41 | 2 | 6,294 | 129 | 3 | |||||||||||||||||||
Common stocks | 15 | 2 | 1 | — | — | — | 15 | 2 | 1 | |||||||||||||||||||
Total equities | $ | 3,350 | 90 | 2 | 3,931 | 69 | 3 | 7,281 | 159 | 5 | ||||||||||||||||||
The amortized cost and fair value of fixed maturities at December 31, 2013 by contractual maturity are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date have been reflected based upon the final stated maturity. | ||||||||||||||||||||||||||||
Cost or | Fair Value | |||||||||||||||||||||||||||
Amortized Cost | ||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||
Due in one year or less | $ | 17,183 | 17,414 | |||||||||||||||||||||||||
Due after one year through five years | 117,140 | 123,970 | ||||||||||||||||||||||||||
Due after five years through ten years | 94,156 | 96,647 | ||||||||||||||||||||||||||
Due after ten years | 367,465 | 367,225 | ||||||||||||||||||||||||||
Total available-for-sale securities | 595,944 | 605,256 | ||||||||||||||||||||||||||
Held-to-maturity securities: | ||||||||||||||||||||||||||||
Due in one year or less | 8,912 | 8,992 | ||||||||||||||||||||||||||
Due after one year through five years | 37,750 | 38,170 | ||||||||||||||||||||||||||
Due after five years through ten years | 43,384 | 43,888 | ||||||||||||||||||||||||||
Due after ten years | 137,650 | 132,483 | ||||||||||||||||||||||||||
Total held-to-maturity securities | 227,696 | 223,533 | ||||||||||||||||||||||||||
Total fixed maturities | $ | 823,640 | 828,789 | |||||||||||||||||||||||||
The Company had no investments in any one entity, excluding U.S. Government agencies, which exceeded 10% of stockholders' equity at December 31, 2013. In addition, there were no investments that were non-income producing for the year ended December 31, 2013. | ||||||||||||||||||||||||||||
Major categories of net investment income are summarized as follows: | ||||||||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Investment income on: | ||||||||||||||||||||||||||||
Fixed maturities | $ | 32,604 | 27,470 | 26,606 | ||||||||||||||||||||||||
Equity securities | 1,839 | 2,158 | 1,534 | |||||||||||||||||||||||||
Mortgage loans on real estate | 68 | 104 | 99 | |||||||||||||||||||||||||
Policy loans | 3,637 | 3,332 | 3,024 | |||||||||||||||||||||||||
Long-term investments | 229 | 234 | 225 | |||||||||||||||||||||||||
Other | 64 | 99 | 122 | |||||||||||||||||||||||||
Total investment income | 38,441 | 33,397 | 31,610 | |||||||||||||||||||||||||
Investment expenses | (1,844 | ) | (1,672 | ) | (1,511 | ) | ||||||||||||||||||||||
Net investment income | $ | 36,597 | 31,725 | 30,099 | ||||||||||||||||||||||||
Proceeds and gross realized gains and losses from sales of fixed maturities available-for-sale for 2013, 2012 and 2011 are summarized as follows: | ||||||||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Proceeds | $ | 316 | 576 | — | ||||||||||||||||||||||||
Gross realized gains | $ | 7 | 54 | — | ||||||||||||||||||||||||
Gross realized losses | $ | 1 | 3 | — | ||||||||||||||||||||||||
In 2013, two bonds were sold for a gain related to the non-insurance subsidiaries holdings. Certain securities were sold during 2012 from a tax planning perspective and due to statutory reporting considerations related to non-rated securities. | ||||||||||||||||||||||||||||
There were no securities sold from the held-to-maturity portfolio in 2013, 2012 or 2011. | ||||||||||||||||||||||||||||
Proceeds and gross realized gains and losses from sales of equity securities for 2013, 2012 and 2011 are summarized as follows: | ||||||||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Proceeds | $ | 5,996 | 2,855 | 7,504 | ||||||||||||||||||||||||
Gross realized gains | $ | — | 632 | 1,259 | ||||||||||||||||||||||||
Gross realized losses | $ | 428 | — | — | ||||||||||||||||||||||||
In December of 2013, the Company sold two equity mutual funds that resulted in a loss of $0.4 million due to circumstances that arose relative to tax planning considerations. During 2012 and 2011, the Company sold holdings of equity mutual funds that were previously impaired, generating realized capital gains for financial reporting purposes of $0.6 million and $1.3 million, respectively, but realized losses for tax purposes. The tax losses offset current year tax gains and were carried back to recover taxes paid on gains in prior years. | ||||||||||||||||||||||||||||
Realized investment gains (losses) are as follows: | ||||||||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Realized investment gains (losses): | ||||||||||||||||||||||||||||
Sales, calls and maturities: | ||||||||||||||||||||||||||||
Fixed maturities | $ | 199 | 824 | 119 | ||||||||||||||||||||||||
Equity securities | (436 | ) | 636 | 1,259 | ||||||||||||||||||||||||
Property and equipment | — | — | 2 | |||||||||||||||||||||||||
Other long-term investments | (10 | ) | 55 | 16 | ||||||||||||||||||||||||
Net realized gains (losses) | (247 | ) | 1,515 | 1,396 | ||||||||||||||||||||||||
Other-than-temporary impairments ("OTTI") | ||||||||||||||||||||||||||||
Fixed maturities | — | (1,319 | ) | (70 | ) | |||||||||||||||||||||||
Other long-term investments | — | — | (561 | ) | ||||||||||||||||||||||||
Realized loss on OTTI | — | (1,319 | ) | (631 | ) | |||||||||||||||||||||||
Net realized investment gains (losses) | $ | (247 | ) | 196 | 765 | |||||||||||||||||||||||
We recorded an OTTI write-down in 2012 of $1,319,000 related to a coal powered energy issuer debt security holding which has a maturity date in 2017. We also recorded impairments in 2011 of $70,000 related to a bond issuer that declared bankruptcy in 2011. | ||||||||||||||||||||||||||||
The Company had realized gains of $199,000 from calls of held-to-maturity fixed maturities in 2013. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||
Fair Value Measurements | |||||||||||||
Fair value is 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. We hold fixed maturity and equity securities that are carried at fair value. | |||||||||||||
Fair value measurements are generally based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our view of market assumptions in the absence of observable market information. We utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. All assets and liabilities carried at fair value are required to be classified and disclosed in one of the following three categories: | |||||||||||||
• | Level 1 - Quoted prices for identical instruments in active markets. | ||||||||||||
• | Level 2 - Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active and model-derived valuations whose inputs or whose significant value drivers are observable. | ||||||||||||
• | Level 3 - Instruments whose significant value drivers are unobservable. | ||||||||||||
Level 1 primarily consists of financial instruments whose value is based on quoted market prices such as U.S. Treasury securities, publicly traded mutual fund investments and individual stocks. | |||||||||||||
Level 2 includes those financial instruments that are valued by independent pricing services or broker quotes. These models are primarily industry-standard models that consider various inputs, such as interest rates, credit spreads and foreign exchange rates for the underlying financial instruments. All significant inputs are observable, or derived from observable information in the marketplace or are supported by observable levels at which transactions are executed in the marketplace. Financial instruments in this category primarily include corporate fixed maturity securities, U.S. Government-sponsored enterprise securities, municipal securities and certain mortgage and asset-backed securities. | |||||||||||||
Level 3 is comprised of financial instruments whose fair value is estimated based on non-binding broker prices utilizing significant inputs not based on, or corroborated by, readily available market information. This category consists of two private placement mortgage-backed securities where we cannot corroborate the significant valuation inputs with market observable data. | |||||||||||||
The following table sets forth our assets and liabilities that are measured at fair value on a recurring basis as of the date indicated. | |||||||||||||
December 31, 2013 | |||||||||||||
Available-for-sale investments | Level 1 | Level 2 | Level 3 | Total | |||||||||
Fair Value | |||||||||||||
(In thousands) | |||||||||||||
Financial assets: | |||||||||||||
Fixed maturities: | |||||||||||||
U.S. Treasury and U.S. Government-sponsored enterprises | $ | 12,463 | 54,568 | — | 67,031 | ||||||||
States and political subdivisions | — | 336,466 | — | 336,466 | |||||||||
Corporate | — | 197,561 | — | 197,561 | |||||||||
Commercial mortgage-backed | — | — | 309 | 309 | |||||||||
Residential mortgage-backed | — | 3,762 | — | 3,762 | |||||||||
Foreign governments | — | 127 | — | 127 | |||||||||
Total fixed maturities | 12,463 | 592,484 | 309 | 605,256 | |||||||||
Equity securities: | |||||||||||||
Stock mutual funds | 11,969 | — | — | 11,969 | |||||||||
Bond mutual funds | 34,663 | — | — | 34,663 | |||||||||
Common stock | 12 | — | — | 12 | |||||||||
Preferred stock | 615 | — | — | 615 | |||||||||
Total equity securities | 47,259 | — | — | 47,259 | |||||||||
Total financial assets | $ | 59,722 | 592,484 | 309 | 652,515 | ||||||||
December 31, 2012 | |||||||||||||
Available-for-sale investments | Level 1 | Level 2 | Level 3 | Total | |||||||||
Fair Value | |||||||||||||
(In thousands) | |||||||||||||
Financial assets: | |||||||||||||
Fixed maturities: | |||||||||||||
U.S. Treasury and U.S. Government-sponsored enterprises | $ | 13,943 | 85,581 | — | 99,524 | ||||||||
States and political subdivisions | — | 282,262 | — | 282,262 | |||||||||
Corporate | — | 216,005 | — | 216,005 | |||||||||
Commercial mortgage-backed | — | 109 | 387 | 496 | |||||||||
Residential mortgage-backed | — | 6,092 | — | 6,092 | |||||||||
Foreign governments | — | 141 | — | 141 | |||||||||
Total fixed maturities | 13,943 | 590,190 | 387 | 604,520 | |||||||||
Equity securities: | |||||||||||||
Stock mutual funds | 10,685 | — | — | 10,685 | |||||||||
Bond mutual funds | 41,916 | — | — | 41,916 | |||||||||
Common stock | 15 | — | — | 15 | |||||||||
Preferred stock | 1,125 | — | — | 1,125 | |||||||||
Total equity securities | 53,741 | — | — | 53,741 | |||||||||
Total financial assets | $ | 67,684 | 590,190 | 387 | 658,261 | ||||||||
Financial Instruments Valuation | |||||||||||||
Fixed maturity securities, available-for-sale. At December 31, 2013, the fixed maturities, valued using a third-party pricing source, totaled $592.5 million for Level 2 assets and comprised 90.8% of total reported fair value. Fair values for Level 3 assets are based upon unadjusted broker quotes that are non-binding. The Level 1 and Level 2 valuations are reviewed and validated quarterly through random testing by comparisons to separate pricing models, other third party pricing services, and back tested to recent trades. In addition, we obtain information relative to the third party pricing models and review model parameters for reasonableness. For the period ended December 31, 2013, there were no material changes to the valuation methods or assumptions used to determine fair values, and no broker or third party prices were changed from the values received. | |||||||||||||
There were no transfers made between level 1 and 2 securities at December 31, 2013 or 2012. | |||||||||||||
Equity securities, available-for-sale. Fair values of these securities are based upon quoted market price and are classified as Level 1 assets. | |||||||||||||
The following table presents additional information about fixed maturity securities measured at fair value on a recurring basis and for which we have utilized significant unobservable (Level 3) inputs to determine fair value: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Beginning Balance at January 1, | $ | 387 | 459 | ||||||||||
Total realized and unrealized gains (losses) | |||||||||||||
Included in net income | — | — | |||||||||||
Included in other comprehensive income | (7 | ) | (6 | ) | |||||||||
Principal paydowns | (71 | ) | (66 | ) | |||||||||
Transfer in and (out) of Level 3 | — | — | |||||||||||
Ending Balance at December 31, | $ | 309 | 387 | ||||||||||
We review the fair value hierarchy classifications each reporting period. Changes in the observability of the valuation attributes may result in a reclassification of certain financial assets. Such reclassifications, if any, are reported as transfers in and out of Level 3 at the beginning fair value for the reporting period in which the changes occur. | |||||||||||||
Financial Instruments not Carried at Fair Value | |||||||||||||
Estimates of fair values are made at a specific point in time, based on relevant market prices and information about the financial instrument. The estimated fair values of financial instruments presented below are not necessarily indicative of the amounts the Company might realize in actual market transactions. The carrying amount and fair value for the financial assets and liabilities on the consolidated balance sheets at each year-end were as follows: | |||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||
Value | Value | Value | Value | ||||||||||
(In thousands) | (In thousands) | ||||||||||||
Financial assets: | |||||||||||||
Fixed maturities, held-to-maturity | $ | 227,696 | 223,533 | 187,008 | 193,739 | ||||||||
Mortgage loans | 671 | 695 | 1,509 | 1,503 | |||||||||
Policy loans | 48,868 | 48,868 | 42,993 | 42,993 | |||||||||
Short-term investments | — | — | 2,340 | 2,340 | |||||||||
Cash and cash equivalents | 54,593 | 54,593 | 56,299 | 56,299 | |||||||||
Financial liabilities: | |||||||||||||
Annuities - investment contracts | $ | 39,469 | 44,960 | 36,392 | 38,679 | ||||||||
Fair values for fixed income securities, which are characterized as Level 2 assets in the fair value hierarchy, are based on quoted market prices for the same or similar securities. In cases where quoted market prices are not available, fair values are based on estimates using present value or other assumptions, including the discount rate and estimates of future cash flows. | |||||||||||||
Mortgage loans are secured principally by residential properties and commercial properties. Weighted average interest rates for these loans were approximately 6.4% and 6.6% per year, as of December 31, 2013 and 2012, respectively, with maturities ranging from 2 to 29 years. Management estimated the fair value using an annual interest rate of 6.25% at December 31, 2013 and 2012. Our mortgage loans are considered Level 3 assets in the fair value hierarchy. | |||||||||||||
Policy loans have a weighted average annual interest rate of 7.7% as of December 31, 2013 and 2012, respectively, and have no specified maturity dates. The aggregate fair value of policy loans approximates the carrying value reflected on the consolidated balance sheet. These loans typically carry an interest rate that is tied to the crediting rate applied to the related policy and contract reserves. Policy loans are an integral part of the life insurance policies that we have in force and cannot be valued separately and are not marketable. Therefore, the fair value approximates the carrying value and policy loans are considered Level 3 assets in the fair value hierarchy. | |||||||||||||
The fair value of short-term investments approximate carrying value due to their short-term nature. Our short-term investments are considered Level 2 assets in the fair value hierarchy. | |||||||||||||
The fair value of cash and cash equivalents approximate carrying value and are characterized as Level 1 assets in the fair value hierarchy. | |||||||||||||
The fair value of the Company's liabilities under annuity contract policies, which are considered Level 3 assets, was estimated at December 31, 2013 using discounted cash flows based upon a swap rate curve with interest rates ranging from 0.1% to 3.8% based upon swap rates adjusted for various risk adjustments. The fair value of liabilities under all insurance contracts are taken into consideration in the overall management of interest rate risk, which seeks to minimize exposure to changing interest rates through the matching of investment maturities with amounts due under insurance contracts. |
Policy_Liabilities
Policy Liabilities | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Statement of Financial Position [Abstract] | ' | |||||||||
Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block] | ' | |||||||||
Policy Liabilities | ||||||||||
Various assumptions used to determine the future policy benefit reserves of life insurance include the following: a) valuation interest rates from 4% to 9% per year; b) mortality assumptions are from the 1955 to 1960, 1965 to 1970, 1975 to 1980 and 2001 Select and Ultimate mortality tables; and c) withdrawals are based primarily on actual historical termination rates. | ||||||||||
The following table presents information on changes in the liability for life, accident and health and property policy and contract claims for the years ended December 31, 2013, 2012 and 2011. | ||||||||||
For the Years Ended December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
(In thousands) | ||||||||||
Policy claims payable at January 1 | $ | 11,015 | 10,020 | 10,540 | ||||||
Less: reinsurance recoverable | 1,188 | 1,171 | 1,188 | |||||||
Net balance at January 1 | 9,827 | 8,849 | 9,352 | |||||||
Add claims incurred, related to: | ||||||||||
Current year | 24,575 | 26,094 | 24,996 | |||||||
Prior years | (417 | ) | (687 | ) | (1,565 | ) | ||||
24,158 | 25,407 | 23,431 | ||||||||
Deduct claims paid, related to: | ||||||||||
Current year | 17,443 | 18,302 | 18,004 | |||||||
Prior years | 7,740 | 6,127 | 5,930 | |||||||
25,183 | 24,429 | 23,934 | ||||||||
Net balance December 31 | 8,802 | 9,827 | 8,849 | |||||||
Plus: reinsurance recoverable | 686 | 1,188 | 1,171 | |||||||
Policy claims payable, December 31 | $ | 9,488 | 11,015 | 10,020 | ||||||
The Company experienced favorable development of $0.4 million in 2013, primarily related to CICA. | ||||||||||
The favorable developments in 2012 and 2011 of $700,000 and $1,600,000 were primarily related the release of higher claim reserves in SPLIC due to longer claim reporting lags following Hurricane’s Katrina and Rita and the relocation of insured lives. The claims related to these events have stabilized and the higher claim reserves are no longer deemed necessary. |
Reinsurance
Reinsurance | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Reinsurance Disclosures [Abstract] | ' | |||||||||
Reinsurance [Text Block] | ' | |||||||||
Reinsurance | ||||||||||
In the normal course of business, the Company reinsures portions of certain policies that we underwrite to limit disproportionate risks. During 2013 and 2012, we retained varying amounts of individual insurance up to a maximum retention of $100,000 on any life. The Company also reinsures 100% of our accidental death benefit rider coverage. Catastrophe reinsurance is in place for our property policies. In 2013 and 2012, this reinsurance provided $10,000,000 of coverage above a $500,000 deductible. Our health insurance policies are substantially all reinsured on a 100% coinsurance basis. We remain contingently liable to the extent that the reinsuring companies cannot meet their obligations under these reinsurance treaties. | ||||||||||
Our amounts recoverable from reinsurers represent receivables from and reserves ceded to reinsurers. We obtain reinsurance from multiple reinsurers, and we monitor concentration as well as financial strength ratings of our principal reinsurers. The ratings by A.M. Best Company range from B+ (Good) to A+ (Superior). To protect our position, we have established and funded a trust to cover the contingent liabilities related to accident and health reinsurance ceded to Puritan Life Insurance Company of America, which represents $2.6 million of the $4.4 million of reinsurance recoverable at December 31, 2013. | ||||||||||
Assumed and ceded life reinsurance activity as of December 31, 2013 and 2012 is summarized as follows: | ||||||||||
At December 31, | ||||||||||
2013 | 2012 | |||||||||
(In thousands) | ||||||||||
Aggregate assumed life insurance in force | $ | 352,013 | 801,261 | |||||||
Aggregate ceded life insurance in force | $ | (467,491 | ) | (466,898 | ) | |||||
Net life insurance in force | $ | 4,616,128 | 4,976,157 | |||||||
The Company's reinsurance recoveries on ceded reinsurance were $4.4 million in 2013 and $9.7 million in 2012. Premiums, claims and surrenders assumed and ceded for all lines of business for these years are summarized as follows: | ||||||||||
For the Years Ended December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
(In thousands) | ||||||||||
Premiums from short-duration contracts: | ||||||||||
Direct | $ | 7,129 | 7,274 | 7,227 | ||||||
Assumed | — | — | — | |||||||
Ceded | (1,107 | ) | (1,034 | ) | (1,128 | ) | ||||
Net premiums earned | 6,022 | 6,240 | 6,099 | |||||||
Premiums from long-duration contracts: | ||||||||||
Direct | 172,257 | 168,272 | 159,860 | |||||||
Assumed | 188 | 1,275 | 1,874 | |||||||
Ceded | (2,309 | ) | (5,914 | ) | (6,438 | ) | ||||
Net premiums earned | 170,136 | 163,633 | 155,296 | |||||||
Total premiums earned | $ | 176,158 | 169,873 | 161,395 | ||||||
Claims and surrenders assumed | $ | 232 | 1,313 | 1,865 | ||||||
Claims and surrenders ceded | $ | (424 | ) | (5,486 | ) | (3,204 | ) | |||
SPFIC has catastrophe reinsurance that covers the first event in excess of a $500,000 deductible up to $10.0 million. In consideration for a reinstatement premium, second event coverage is provided in excess of a $500,000 deductible up to $10.0 million. The annual premium was approximately $1.1 million in 2013, $1.0 million in 2012 and $1.1 million in 2011. |
Stockholders_Equity_and_Restri
Stockholders' Equity and Restrictions | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Stockholders' Equity Note [Abstract] | ' | |||||||||
Stockholders' Equity and Restrictions | ' | |||||||||
Stockholders' Equity and Restrictions | ||||||||||
The two classes of our common stock are equal in all respects, except (a) each Class A share receives twice the cash dividends paid on a per share basis to the Class B common stock; and (b) the Class B common stock elects a simple majority of the Board of Directors of Citizens and the Class A common stock elects the remaining directors. | ||||||||||
The table below shows the combined total of all of our insurance subsidiaries' capital and surplus and net income (loss) for life insurance operations and property insurance operations, although these amounts are not all available as dividends to Citizens, Inc., because only CICA is directly owned by Citizens, Inc. All other subsidiaries are owned by CICA. | ||||||||||
For the Years Ended December 31, | ||||||||||
2013 | 2012 | |||||||||
Combined Statutory Stockholders' Equity | (In thousands) | |||||||||
Life insurance operations | $ | 114,528 | 109,055 | |||||||
Property insurance operations | 5,106 | 5,137 | ||||||||
Total statutory equity | $ | 119,634 | 114,192 | |||||||
For the Years Ended December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
Combined Statutory Net Income | (In thousands) | |||||||||
Life insurance operations | $ | 4,584 | 4,055 | 6,943 | ||||||
Property insurance operations | (41 | ) | 28 | 469 | ||||||
Total statutory net income | $ | 4,543 | 4,083 | 7,412 | ||||||
Generally, the net assets of the insurance subsidiaries available for transfer to their immediate parent are limited to the greater of the subsidiary net gain from operations during the preceding year or 10% of the subsidiary net statutory surplus as of the end of the preceding year as determined in accordance with accounting practices prescribed or permitted by insurance regulatory authorities. Under these practices, total surplus at December 31, 2013 was $54.8 million and net gain from operations was $3.2 million for CICA. Based upon statutory net gain from operations and surplus of CICA as of and for the year ended December 31, 2013, a dividend of approximately $5.5 million could be paid to the Company without prior regulatory approval in 2014. Payments of dividends in excess of such amounts would generally require approval by regulatory authorities. | ||||||||||
CICA, CNLIC, SPLIC and SPFIC have calculated their risk based capital ("RBC") in accordance with the National Association of Insurance Commissioners' Model Rule and the RBC rules as adopted by their respective states of domicile. All insurance subsidiaries exceeded RBC minimum levels at December 31, 2013. |
Convertible_Preferred_Stock_Wa
Convertible Preferred Stock Warrants | 12 Months Ended |
Dec. 31, 2013 | |
Convertible Preferred Stock [Abstract] | ' |
Convertible Preferred Stock: warrants [Text Block] | ' |
Convertible Preferred Stock | |
In July 2004, the Company completed a private placement of Series A-1 Convertible Preferred Stock (“Series A-1 Preferred”) to four unaffiliated institutional investors. We also issued to the investors warrants to purchase shares of our Class A common stock, at an exercise price of $6.95 per share, and unit warrants to purchase Series A-2 Convertible Preferred Stock (“Series A-2 Preferred”). The conversion, exercise and redemption prices, along with the number of shares and warrants, were adjusted for stock dividends paid on December 31, 2004 and on December 30, 2005. | |
All outstanding warrants were exercised in 2011 and 2012 and none were remaining as of December 31, 2013. | |
The fair value of the warrants was calculated using the Black-Scholes option pricing model and was classified as a liability on the balance sheet. The change in fair value of warrants was reported as a component of revenue in the income statement. The change in fair value of warrants for the year ended December 31, 2012 and 2011 caused an increase in revenues of $0.5 million and $1.1 million, respectively. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Commitments and Contingencies | ' | |||
Commitments and Contingencies | ||||
We are a defendant in a lawsuit filed on August 6, 1999, in the Texas District Court, Austin, Texas, now styled Delia Bolanos Andrade, et al., Plaintiffs, v. Citizens Insurance Company of America, et al., Defendants in which a class was originally certified by the trial court and reversed by the Texas Supreme Court in 2007 with an order to the trial court to conduct further proceedings consistent with its ruling. The underlying lawsuit alleged that certain life insurance policies CICA made available to non-U.S. residents, when combined with a policy feature that allowed certain cash benefits to be assigned to two non-U.S. trusts for the purpose of accumulating ownership of our Class A common stock, along with allowing the policyholders to make additional contributions to the trusts, were actually offers and sales of securities that occurred in Texas by unregistered dealers in violation of the Texas securities laws. The remedy sought was rescission and return of the insurance premium payments. On December 9, 2009, the trial court denied the recertification of the class after conducting additional proceedings in accordance with the Texas Supreme Court's ruling. The remaining plaintiffs must now proceed individually, and not as a class, if they intend to pursue their claims against us. Since the December 9, 2009 trial court ruling, no individual cases have been further pursued by the plaintiffs. The probability of the plaintiffs further pursuing their cases individually is unknown. An estimate of any possible loss or range of losses cannot be made at this time in regard to individuals pursuing claims. However, should the plaintiffs further pursue their claims individually, we intend to vigorously defend any proceedings. | ||||
In 2007 and in the aftermath of Hurricane Katrina, the Attorney General for the State of Louisiana filed suit against SPFIC and every other homeowner insurer doing business in the State of Louisiana, on behalf of the State of Louisiana and certain Road Home fund recipients. On July 18, 2013, a full and final settlement was reached between SPFIC and the State of Louisiana resolving all claims against SPFIC in the Road Home matter for approximately $183,000. This amount did not have a material impact on the consolidated financials. | ||||
The Company is currently performing an internal audit related to unclaimed property for all legal reporting entities. As of December 31, 2013, the Company had been informed by the Louisiana Department of Treasury, Arkansas Auditor of State and the Texas State Comptroller, that they authorized an audit of Citizens, Inc. and its affiliates for compliance with unclaimed property laws. This audit is being conducted by Verus Financial LLC on behalf of the states. | ||||
These internal and external audits may result in additional payments to beneficiaries, additional escheatment of funds deemed abandoned under state laws, administrative penalties, interest, and changes to the Company's procedures for the identification and escheatment of abandoned property. At this time, the Company is not able to estimate any of these possible amounts, but such costs could be substantial for a company our size. | ||||
We defend all claims vigorously. However, in doing so, we could incur significant defense costs, including attorneys' fees, other direct litigation costs and the expenditure of substantial amounts of management time that otherwise would be devoted to our business. If we suffer an adverse judgment as a result of litigation claims, it could have a material adverse effect on our business, results of operations and financial condition. | ||||
We have the following lease commitments as of December 31, 2013 with the payments due by the periods indicated below. | ||||
Lease Commitments | ||||
(In thousands) | ||||
Less than 1 year | $ | 398 | ||
1 year to 3 years | 473 | |||
3 years to 5 years | 98 | |||
More than 5 years | — | |||
Total | $ | 969 | ||
Operating lease expense was $0.6 million for the year ended December 31, 2013, and $0.6 million and $0.5 million for the same periods ended 2012 and 2011. |
Segment_Information
Segment Information | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract] | ' | ||||||||||||
Segment Information | ' | ||||||||||||
Segment and Other Operating Information | |||||||||||||
The Company has three reportable segments: Life Insurance, Home Service Insurance, and Other Non-Insurance Enterprises. The accounting policies of the segments are in accordance with U.S. GAAP and are the same as those described in the summary of significant account policies. We evaluate profit and loss performance based on U.S. GAAP net income before federal income taxes for our three reportable segments. | |||||||||||||
The Company has no reportable differences between segments and consolidated operations. | |||||||||||||
December 31, 2013 | |||||||||||||
Life | Home | Other | Consolidated | ||||||||||
Insurance | Service | Non-Insurance | |||||||||||
Enterprises | |||||||||||||
(In thousands) | |||||||||||||
Revenues: | |||||||||||||
Premiums | $ | 132,479 | 43,679 | — | 176,158 | ||||||||
Net investment income | 22,237 | 13,075 | 1,285 | 36,597 | |||||||||
Realized investment losses, net | (222 | ) | (19 | ) | (6 | ) | (247 | ) | |||||
Other income | 891 | 141 | 96 | 1,128 | |||||||||
Total revenue | 155,385 | 56,876 | 1,375 | 213,636 | |||||||||
Benefits and expenses: | |||||||||||||
Insurance benefits paid or provided: | |||||||||||||
Claims and surrenders | 42,908 | 21,519 | — | 64,427 | |||||||||
Increase in future policy benefit reserves | 71,100 | 3,120 | — | 74,220 | |||||||||
Policyholders' dividends | 9,400 | 70 | — | 9,470 | |||||||||
Total insurance benefits paid or provided | 123,408 | 24,709 | — | 148,117 | |||||||||
Commissions | 26,033 | 14,444 | — | 40,477 | |||||||||
Other general expenses | 11,326 | 12,739 | 2,525 | 26,590 | |||||||||
Capitalization of deferred policy acquisition costs | (23,830 | ) | (5,568 | ) | — | (29,398 | ) | ||||||
Amortization of deferred policy acquisition costs | 15,701 | 2,810 | — | 18,511 | |||||||||
Amortization of cost of customer relationships acquired | 693 | 1,715 | — | 2,408 | |||||||||
Total benefits and expenses | 153,331 | 50,849 | 2,525 | 206,705 | |||||||||
Income (loss) before income tax expense | $ | 2,054 | 6,027 | (1,150 | ) | 6,931 | |||||||
December 31, 2012 | |||||||||||||
Life | Home | Other | Consolidated | ||||||||||
Insurance | Service | Non-Insurance | |||||||||||
Enterprises | |||||||||||||
(In thousands) | |||||||||||||
Revenues: | |||||||||||||
Premiums | $ | 126,032 | 43,841 | — | 169,873 | ||||||||
Net investment income | 17,828 | 12,724 | 1,173 | 31,725 | |||||||||
Realized investment gains (losses), net | 512 | (343 | ) | 27 | 196 | ||||||||
Decrease in fair value of warrants | — | — | 451 | 451 | |||||||||
Other income | 319 | 80 | 115 | 514 | |||||||||
Total revenue | 144,691 | 56,302 | 1,766 | 202,759 | |||||||||
Benefits and expenses: | |||||||||||||
Insurance benefits paid or provided: | |||||||||||||
Claims and surrenders | 43,537 | 21,119 | — | 64,656 | |||||||||
Increase in future policy benefit reserves | 63,481 | 3,195 | — | 66,676 | |||||||||
Policyholders' dividends | 8,846 | 245 | — | 9,091 | |||||||||
Total insurance benefits paid or provided | 115,864 | 24,559 | — | 140,423 | |||||||||
Commissions | 24,895 | 14,503 | — | 39,398 | |||||||||
Other general expenses | 10,961 | 12,089 | 2,614 | 25,664 | |||||||||
Capitalization of deferred policy acquisition costs | (23,371 | ) | (5,703 | ) | — | (29,074 | ) | ||||||
Amortization of deferred policy acquisition costs | 15,077 | 2,768 | — | 17,845 | |||||||||
Amortization of cost of customer relationships acquired | 746 | 1,721 | — | 2,467 | |||||||||
Total benefits and expenses | 144,172 | 49,937 | 2,614 | 196,723 | |||||||||
Income (loss) before income tax expense | $ | 519 | 6,365 | (848 | ) | 6,036 | |||||||
31-Dec-11 | |||||||||||||
Life | Home | Other | Consolidated | ||||||||||
Insurance | Service | Non-Insurance | |||||||||||
Enterprises | |||||||||||||
(In thousands) | |||||||||||||
Revenues: | |||||||||||||
Premiums | $ | 118,205 | 43,190 | — | 161,395 | ||||||||
Net investment income | 16,401 | 12,861 | 837 | 30,099 | |||||||||
Realized investment gains (losses), net | 1,347 | (601 | ) | 19 | 765 | ||||||||
Decrease in fair value of warrants | — | — | 1,136 | 1,136 | |||||||||
Other income | 526 | 112 | 123 | 761 | |||||||||
Total revenue | 136,479 | 55,562 | 2,115 | 194,156 | |||||||||
Benefits and expenses: | |||||||||||||
Insurance benefits paid or provided: | |||||||||||||
Claims and surrenders | 40,525 | 19,531 | — | 60,056 | |||||||||
Increase in future policy benefit reserves | 54,310 | 3,954 | — | 58,264 | |||||||||
Policyholders' dividends | 8,004 | 68 | — | 8,072 | |||||||||
Total insurance benefits paid or provided | 102,839 | 23,553 | — | 126,392 | |||||||||
Commissions | 23,482 | 14,892 | — | 38,374 | |||||||||
Other general expenses | 11,418 | 12,186 | 2,436 | 26,040 | |||||||||
Capitalization of deferred policy acquisition costs | (21,675 | ) | (6,151 | ) | — | (27,826 | ) | ||||||
Amortization of deferred policy acquisition costs | 13,769 | 3,079 | — | 16,848 | |||||||||
Amortization of cost of customer relationships acquired | 921 | 2,077 | — | 2,998 | |||||||||
Total benefits and expenses | 130,754 | 49,636 | 2,436 | 182,826 | |||||||||
Income (loss) before income tax expense | $ | 5,725 | 5,926 | (321 | ) | 11,330 | |||||||
The table below summarizes assets by segment. | |||||||||||||
For the Years Ended December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Assets: | |||||||||||||
Life Insurance | $ | 772,434 | 717,967 | ||||||||||
Home Service Insurance | 373,432 | 385,046 | |||||||||||
Other Non-Insurance Enterprises | 70,414 | 71,935 | |||||||||||
Total assets | $ | 1,216,280 | 1,174,948 | ||||||||||
Major categories of earned premiums are summarized as follows: | |||||||||||||
For the Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Premium income: | |||||||||||||
Ordinary life | $ | 169,667 | 162,070 | 153,118 | |||||||||
Group life | 16 | 1,100 | 1,660 | ||||||||||
Accident and health | 1,529 | 1,635 | 1,561 | ||||||||||
Property | 4,946 | 5,068 | 5,056 | ||||||||||
Total premium income | $ | 176,158 | 169,873 | 161,395 | |||||||||
Geographic Information | |||||||||||||
The following table sets forth the Company's annual total of earned premiums from geographic area for the years indicated: | |||||||||||||
For the Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Area: | |||||||||||||
United States | $ | 52,678 | 67,332 | 51,126 | |||||||||
Venezuela | 28,317 | 25,035 | 21,150 | ||||||||||
Colombia | 24,724 | 23,010 | 21,765 | ||||||||||
Taiwan | 15,678 | 14,879 | 14,196 | ||||||||||
Ecuador | 14,962 | 14,064 | 13,481 | ||||||||||
Argentina | 9,339 | 9,502 | 9,353 | ||||||||||
Other foreign countries | 33,688 | 21,724 | 36,016 | ||||||||||
Net reinsurance | (3,228 | ) | (5,673 | ) | (5,692 | ) | |||||||
Total | $ | 176,158 | 169,873 | 161,395 | |||||||||
Income_Taxes_Notes
Income Taxes (Notes) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Tax Disclosure [Text Block] | ' | ||||||||||||
Income Taxes | |||||||||||||
Our federal income tax expense was $2.1 million, $1.5 million and $2.8 million in 2013, 2012 and 2011, respectively. This represents effective tax rates of 30.8%, 25.0% and 25.1%, respectively. The Company previously had a valuation allowance related to OTTI writedowns on stocks and stock mutual funds in 2008. Due to the sale of these mutual funds in 2009 and 2010, the valuation allowance was released in its entirety in 2009 and 2010. Part of this valuation allowance was released to other comprehensive income ("OCI") in 2009 due to the increase in fair value of mutual funds and stocks still owned. As the stocks and mutual funds have been disposed of since 2009, this valuation allowance has been released as reductions of tax expense. During 2013, 2012 and 2011, $20,000, and $188,000 and $570,000 has been released as a reduction of tax expense, respectively. | |||||||||||||
The table below summarizes the changes in the valuation allowance. | |||||||||||||
Deferred Tax | Other | Goodwill | Income Tax | ||||||||||
Liability | Comprehensive | Expense | |||||||||||
Income | (Benefit) | ||||||||||||
(In thousands) | |||||||||||||
Balance at December 31, 2010 | $ | — | (841 | ) | 1,058 | (217 | ) | ||||||
Release of valuation allowance in 2011 | — | 570 | — | (570 | ) | ||||||||
Balance at December 31, 2011 | — | (271 | ) | 1,058 | (787 | ) | |||||||
Release of valuation allowance in 2012 | — | 188 | — | (188 | ) | ||||||||
Balance at December 31, 2012 | — | (83 | ) | 1,058 | (975 | ) | |||||||
Release of valuation allowance in 2013 | — | 20 | — | (20 | ) | ||||||||
Balance at December 31, 2013 | $ | — | (63 | ) | 1,058 | (995 | ) | ||||||
A reconciliation of federal income tax expense computed by applying the federal income tax rate of 35% in 2013, 2012 and 2011 to income (loss) before federal income tax expense is as follows: | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Expected tax expense | $ | 2,426 | 2,113 | 3,966 | |||||||||
Release of valuation allowance previously held in other comprehensive income | (20 | ) | (188 | ) | (570 | ) | |||||||
Taxable intercompany stock sales | 143 | 182 | 405 | ||||||||||
Tax-exempt interest and dividends-received deduction | (397 | ) | (364 | ) | (251 | ) | |||||||
Change in fair value of options and warrants | — | (158 | ) | (398 | ) | ||||||||
Adjustment of prior year taxes | 60 | — | (280 | ) | |||||||||
Effect of graduated rates | (100 | ) | (100 | ) | — | ||||||||
Other | 26 | 22 | (24 | ) | |||||||||
Total income tax expense | $ | 2,138 | 1,507 | 2,848 | |||||||||
Income tax expense (benefit) consists of: | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Current | $ | 5,871 | 3,666 | 4,624 | |||||||||
Deferred | (3,733 | ) | (2,159 | ) | (1,776 | ) | |||||||
Total income tax expense | $ | 2,138 | 1,507 | 2,848 | |||||||||
Deferred tax expense is comprised of $3,713,000 deferred tax benefit and $20,000 tax benefit released from OCI. | |||||||||||||
The components of deferred federal income taxes are as follows: | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Deferred tax assets: | |||||||||||||
Future policy benefit reserves | $ | 39,345 | 34,785 | ||||||||||
Net operating and capital loss carryforwards | 2,632 | 3,098 | |||||||||||
Due and accrued dividends and expenses | 1,318 | 1,324 | |||||||||||
Investments | 1,805 | 308 | |||||||||||
State income tax credits | 128 | 131 | |||||||||||
Other | 219 | 542 | |||||||||||
Total gross deferred tax assets | 45,447 | 40,188 | |||||||||||
Valuation allowance | — | — | |||||||||||
Total gross deferred tax assets net of valuation allowance | 45,447 | 40,188 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Deferred policy acquisition costs, cost of customer relationships acquired and intangible assets | (42,948 | ) | (40,844 | ) | |||||||||
Unrealized gains on investments available-for-sale | (3,741 | ) | (16,023 | ) | |||||||||
Other | (462 | ) | (622 | ) | |||||||||
Total gross deferred tax liabilities | (47,151 | ) | (57,489 | ) | |||||||||
Net deferred tax liability | $ | (1,704 | ) | (17,301 | ) | ||||||||
A summary of the changes in the components of deferred federal and state income taxes is as follows: | |||||||||||||
At December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Deferred federal and state income taxes: | |||||||||||||
Balance January 1, | $ | (17,301 | ) | (13,940 | ) | ||||||||
Deferred tax benefit (expense) | 3,713 | 1,971 | |||||||||||
Investments available-for-sale | 12,282 | (5,529 | ) | ||||||||||
Effects of unrealized gains on DAC, CCRA and reserves | (398 | ) | 197 | ||||||||||
Balance December 31, | $ | (1,704 | ) | (17,301 | ) | ||||||||
The Company and our subsidiaries had net operating losses at December 31, 2013 available to offset future taxable income of approximately $7,521,000, expiring at various times through 2029. A portion of the net operating loss carryforward is subject to limitations under Section 382 of the Internal Revenue Code. At December 31, 2013 and 2012, we determined that as a result of our historical income, projected future income, tax planning strategies, and the nature of the items from which the deferred tax assets are derived, other than assets for which OTTI was recorded, it was more likely than not that the deferred tax assets would be realized. The Company has sufficient unrealized gains in its available-for-sale portfolio so as not to need a valuation allowance for OTTI writedowns. | |||||||||||||
The Company and our subsidiaries had no capital loss carry-forwards at December 31, 2013. | |||||||||||||
At December 31, 2013, the Company had accumulated approximately $3,291,000 in our "policyholders' surplus account." This is a special memorandum tax account into which certain amounts not previously taxed, under prior tax laws, were accumulated. No new additions are expected to be made to this account. Federal income taxes will become payable thereon at the then current tax rate (a) when and if distributions to shareholders, other than stock dividends and other limited exceptions, are made in excess of the accumulated previously taxed income; or (b) when a company ceases to be a life insurance company as defined by the Internal Revenue Code and such termination is not due to another life insurance company acquiring its assets in a nontaxable transaction. We do not anticipate any transactions that would cause any part of this amount to become taxable. However, should the balance at December 31, 2013 become taxable, the tax computed at present rates would be approximately $1,152,000. | |||||||||||||
The Company recognizes only the impact of tax positions that, based on their technical merits, are more likely than not to be sustained upon an audit by the taxing authority. | |||||||||||||
A reconciliation of unrecognized tax benefits is as follows: | |||||||||||||
At December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Balance at January 1, | $ | — | — | ||||||||||
Additions based on tax positions related to the current year | 896 | — | |||||||||||
Additions for tax positions of prior years | 643 | — | |||||||||||
Reductions for tax positions related to the current year | — | — | |||||||||||
Reductions for tax positions of prior years | — | — | |||||||||||
Balance December 31, | $ | 1,539 | — | ||||||||||
None of the Company’s unrecognized tax benefits at December 31, 2013 would affect the effective tax rate if recognized. | |||||||||||||
The Company’s practice is to recognize interest and penalties related to income tax matters in income tax expense. The Company has not recorded immaterial interest or penalties with respect to any unrecognized tax benefits as of December 31, 2013. | |||||||||||||
The Company's Federal income tax return is filed on a consolidated basis with the following entities: | |||||||||||||
Citizens, Inc. | |||||||||||||
CICA Life Insurance Company of America | |||||||||||||
Security Plan Life Insurance Company | |||||||||||||
Security Plan Fire Insurance Company | |||||||||||||
Computing Technology, Inc. | |||||||||||||
Insurance Investors, Inc. | |||||||||||||
Citizens National Life Insurance Company | |||||||||||||
The method of allocation among companies is subject to a written tax sharing agreement, approved by the Board of Directors, whereby allocation is made primarily on a separate return basis with current credit for any net operating losses or other items utilized in the consolidated tax return. Intercompany tax balances are settled quarterly. | |||||||||||||
The Company and our subsidiaries file income tax returns in the U.S. Federal jurisdiction and various U.S. states. Most of our subsidiaries are not subject to examination by U.S. tax authorities for years prior to 2010. Some of our subsidiaries have open tax years going back as far as 2002 due to net operating loss carry-forwards. |
Other_Comprehensive_Income_Los
Other Comprehensive Income (Loss) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Equity [Abstract] | ' | |||||||||
Other Comprehensive Income (Loss) | ' | |||||||||
Other Comprehensive Income (Loss) | ||||||||||
The changes in the components of other comprehensive income (loss) are reported net of the effects of income taxes of 35% in 2013, 2012 and 2011, as indicated below. | ||||||||||
Amount | Tax Effect | Amount | ||||||||
(In thousands) | ||||||||||
Year ended December 31, 2013 | ||||||||||
Unrealized gains (losses) on securities: | ||||||||||
Unrealized holding gains (losses) arising during the period | $ | (35,318 | ) | 12,361 | (22,957 | ) | ||||
Reclassification adjustment for (gains) losses included in net income | 227 | (79 | ) | 148 | ||||||
Effects on DAC and CCRA | 1,135 | (398 | ) | 737 | ||||||
Change in tax valuation allowance | — | (20 | ) | (20 | ) | |||||
Other comprehensive income (loss) | $ | (33,956 | ) | 11,864 | (22,092 | ) | ||||
Year ended December 31, 2012 | ||||||||||
Unrealized gains (losses) on securities: | ||||||||||
Unrealized holding gains (losses) arising during the period | $ | 15,694 | (5,493 | ) | 10,201 | |||||
Reclassification adjustment for (gains) losses included in net income | 105 | (36 | ) | 69 | ||||||
Effects on DAC and CCRA | (564 | ) | 197 | (367 | ) | |||||
Change in tax valuation allowance | — | (188 | ) | (188 | ) | |||||
Other comprehensive income | $ | 15,235 | (5,520 | ) | 9,715 | |||||
Year ended December 31, 2011 | ||||||||||
Unrealized gains (losses) on securities: | ||||||||||
Unrealized holding gains (losses) arising during the period | $ | 30,474 | (10,666 | ) | 19,808 | |||||
Reclassification adjustment for (gains) losses included in net income | (1,277 | ) | 447 | (830 | ) | |||||
Effects on DAC and CCRA | (885 | ) | 310 | (575 | ) | |||||
Change in tax valuation allowance | — | (570 | ) | (570 | ) | |||||
Other comprehensive income | $ | 28,312 | (10,479 | ) | 17,833 | |||||
Benefit_Plans
Benefit Plans | 12 Months Ended |
Dec. 31, 2013 | |
Benefit Plans [Abstract] | ' |
Compensation and Employee Benefit Plans [Text Block] | ' |
Benefit Plans | |
The Company sponsors a defined contribution profit-sharing plan. Employees with one year of service can participate. Contributions are made at the discretion of the Board of Directors and are subject to a tiered vesting schedule. Employer contributions to the plan were $0.6 million in 2013 and were $0.8 million, and $1.0 million in 2012 and 2011. The plan does not permit employee contributions. | |
The Company is primarily self-insured for employee health benefits. The Company records its self-insurance liability based on claims filed and an estimate of claims incurred but not yet reported. There is stop-loss coverage for amounts in excess of $100,000 per individual per year. If more claims are made than were estimated or if the costs of actual claims increase beyond what was anticipated, reserves recorded may not be sufficient and additional accruals may be required in future periods. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
Related Party Transactions | |
The Company sponsors the Citizens, Inc. Stock Investment Plan (the "Plan"), which is administered by an independent third party. The Plan is a means for new and existing investors in our Class A Common Stock to purchase and sell shares at market prices. Each share purchased through the Plan is registered in the name of the investing shareholder. The Company offers the Plan to our policyholders for automatic investment of policy benefits, including policyholder dividends and annual endowment benefits. We do not have possession of, or control over, any amounts invested through the Plan. | |
Citizens, Inc. purchased Class A common shares during 2013 and 2012 that were held by subsidiaries at market value as of the transaction dates, which approximated $0.4 million and $0.6 million, respectively. These transactions were eliminated for financial reporting purposes in accordance with consolidation accounting, but generated a tax expense for the year ended December 31, 2013 and 2012 totaling approximately $0.1 million and $0.2 million. | |
In 2012, CICA made a return of capital of $5.4 million, to Citizens, Inc. and SPLIC paid a dividend to CICA in the amount of $2.3 million. |
Quarterly_Financial_Informatio
Quarterly Financial Information (Unaudited) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Quarterly Financial Information (Unaudited) [Abstract] | ' | ||||||||||||
Quarterly Financial Information [Text Block] | ' | ||||||||||||
Quarterly Financial Information (Unaudited) | |||||||||||||
The following table contains selected unaudited financial data for each quarter. | |||||||||||||
Fourth | Third | Second | First | ||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||
(In thousands, except per share amounts) | |||||||||||||
2013 | |||||||||||||
Revenues | $ | 56,866 | 53,616 | 53,608 | 49,546 | ||||||||
Benefits and expenses | 55,456 | 50,998 | 51,813 | 48,438 | |||||||||
Federal income tax expense | 604 | 794 | 488 | 252 | |||||||||
Net income | 806 | 1,824 | 1,307 | 856 | |||||||||
Net income available to common shareholders | 806 | 1,824 | 1,307 | 856 | |||||||||
Basic earnings per share of Class A common stock | 0.02 | 0.03 | 0.03 | 0.02 | |||||||||
Basic earnings per share of Class B common stock | 0.01 | 0.02 | 0.01 | 0.01 | |||||||||
Diluted earnings per share of Class A common stock | 0.02 | 0.03 | 0.03 | 0.02 | |||||||||
Diluted earnings per share of Class B common stock | 0.01 | 0.02 | 0.01 | 0.01 | |||||||||
Fourth | Third | Second | First | ||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||
(In thousands, except per share amounts) | |||||||||||||
2012 | |||||||||||||
Revenues | $ | 54,070 | 52,182 | 49,602 | 46,905 | ||||||||
Benefits and expenses | 54,511 | 48,137 | 49,263 | 44,812 | |||||||||
Federal income tax expense | (144 | ) | 1,134 | (64 | ) | 581 | |||||||
Net income (loss) | (297 | ) | 2,911 | 403 | 1,512 | ||||||||
Net income available to common shareholders | (297 | ) | 2,911 | 403 | 1,512 | ||||||||
Basic earnings per share of Class A common stock | (0.01 | ) | 0.06 | 0.01 | 0.03 | ||||||||
Basic earnings per share of Class B common stock | — | 0.03 | — | 0.02 | |||||||||
Diluted earnings per share of Class A common stock | (0.01 | ) | 0.06 | 0.01 | 0.03 | ||||||||
Diluted earnings per share of Class B common stock | — | 0.03 | — | 0.02 | |||||||||
Subsequent_Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
Subsequent Events | |
On October 7, 2013, the Company entered into a purchase agreement with Magnolia Guaranty Life Insurance Company ("MGLIC") in the amount of $5.2 million. MGLIC is a Mississippi company that began writing business in 1992 and issues primarily industrial life policies through independent funeral homes in the state of Mississippi. MGLIC had approximately $8.6 million of admitted assets as of December 31, 2013. This transaction was finalized on March 7, 2014 and will add a Mississippi domiciled company to our home service segment. | |
We have evaluated for subsequent events as defined by the accounting guidance through the date of financial statement issuance. No other items were identified in this period subsequent to the financial statement date that required adjustment or disclosure. |
Financial_Schedules_Schedule_I
Financial Schedules Schedule II - Condensed Financial Information (Parent Company) (Notes) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Condensed Financial Information (Parent Company) [Abstract] | ' | |||||||||
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | ' | |||||||||
Schedule II | ||||||||||
Condensed Financial Information of Registrant | ||||||||||
CITIZENS, INC. (Parent Company) | ||||||||||
Balance Sheets | ||||||||||
At December 31, | ||||||||||
2013 | 2012 | |||||||||
(In thousands) | ||||||||||
Assets | ||||||||||
Investment in subsidiaries (1) | $ | 179,575 | 197,059 | |||||||
Fixed maturities available-for-sale, at fair value | 43,233 | 43,946 | ||||||||
Fixed maturities held-to-maturity, at amortized cost | 377 | 151 | ||||||||
Equity securities available-for-sale, at fair value | 1,079 | 972 | ||||||||
Mortgage loans on real estate | 354 | 479 | ||||||||
Real estate and other long-term investments | 6,250 | 6,365 | ||||||||
Cash | 17,038 | 16,489 | ||||||||
Accrued investment income | 630 | 598 | ||||||||
Accounts receivable from subsidiaries (1) | 2,440 | 2,212 | ||||||||
Other assets | 139 | 526 | ||||||||
Total assets | $ | 251,115 | 268,797 | |||||||
Liabilities and Stockholders' Equity | ||||||||||
Liabilities: | ||||||||||
Accrued expense and other liabilities | $ | 5,306 | 5,689 | |||||||
Total liabilities | $ | 5,306 | 5,689 | |||||||
Stockholders' equity: | ||||||||||
Common stock: | ||||||||||
Class A | $ | 259,383 | 259,383 | |||||||
Class B | 3,184 | 3,184 | ||||||||
Accumulated retained deficit | (12,542 | ) | (17,335 | ) | ||||||
Unrealized investment gains on securities held by parent and subsidiaries, net of tax | 6,795 | 28,887 | ||||||||
Treasury stock | (11,011 | ) | (11,011 | ) | ||||||
Total stockholders' equity | 245,809 | 263,108 | ||||||||
Total liabilities and stockholders' equity | $ | 251,115 | 268,797 | |||||||
Schedule II, Continued | ||||||||||
Condensed Financial Information of Registrant | ||||||||||
CITIZENS, INC. (Parent Company) | ||||||||||
Statements of Operations | ||||||||||
Years Ended December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
(In thousands) | ||||||||||
Revenues: | ||||||||||
Management service fees (1) | $ | 27,711 | 27,930 | 28,560 | ||||||
Investment income | 1,268 | 1,157 | 822 | |||||||
Decrease in fair value of warrants | — | 451 | 1,136 | |||||||
Other | 2 | — | — | |||||||
Realized investment gains (losses), net | (10 | ) | 27 | 18 | ||||||
Total revenues | 28,971 | 29,565 | 30,536 | |||||||
Expenses: | ||||||||||
General | 25,900 | 26,280 | 26,418 | |||||||
Taxes, licenses and fees | 942 | 870 | 962 | |||||||
Federal income tax expense | 498 | 708 | 709 | |||||||
Total expenses | 27,340 | 27,858 | 28,089 | |||||||
Income before equity in income of consolidated subsidiaries | 1,631 | 1,707 | 2,447 | |||||||
Equity in income of consolidated subsidiaries | 3,162 | 2,822 | 6,035 | |||||||
Net income | $ | 4,793 | 4,529 | 8,482 | ||||||
(1) Eliminated in consolidation. | ||||||||||
See accompanying report of independent registered public accounting firm. | ||||||||||
Schedule II, Continued | ||||||||||
Condensed Financial Information of Registrant | ||||||||||
CITIZENS, INC. (Parent Company) | ||||||||||
Statements of Cash Flows | ||||||||||
Years Ended December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
(In thousands) | ||||||||||
Cash flows from operating activities: | ||||||||||
Net income | $ | 4,793 | 4,529 | 8,482 | ||||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
Realized investment losses (gains), net | 10 | (27 | ) | (18 | ) | |||||
Equity in income of consolidated subsidiaries | (3,162 | ) | (2,822 | ) | (6,035 | ) | ||||
Decrease in fair value of warrants | — | (451 | ) | (1,136 | ) | |||||
Accrued expenses and other liabilities | (383 | ) | 692 | 1,762 | ||||||
Amortization of premiums and discounts on investments | 696 | 492 | 165 | |||||||
Depreciation | 229 | 263 | 249 | |||||||
Accrued investment income | (32 | ) | (213 | ) | (210 | ) | ||||
Decrease (increase) in receivable from subsidiaries and other assets | 159 | 542 | (16 | ) | ||||||
Other, net | 418 | (503 | ) | (311 | ) | |||||
Net cash provided by operating activities | 2,728 | 2,502 | 2,932 | |||||||
Cash flows from investing activities: | ||||||||||
Purchase of fixed maturities, held-to-maturity | (232 | ) | — | (1,156 | ) | |||||
Calls of fixed maturities, held-to-maturity | — | — | 1,000 | |||||||
Purchase of fixed maturities, available-for-sale | (2,630 | ) | (16,199 | ) | (24,794 | ) | ||||
Maturities of fixed maturities, available-for-sale | 1,000 | 8,017 | 8,725 | |||||||
Purchase of equity securities, available-for-sale | — | — | (1,000 | ) | ||||||
Sale of real estate and other long-term investments | 128 | 11 | 16 | |||||||
Purchase of other long-term investments and property and equipment | (5 | ) | (5 | ) | (154 | ) | ||||
Net cash used by investment activities | (1,739 | ) | (8,176 | ) | (17,363 | ) | ||||
Cash flows from financing activities: | ||||||||||
Dividend from subsidiary | — | 5,400 | 6,800 | |||||||
Warrants exercised | — | 822 | 1,843 | |||||||
Purchase of the Company's stock from affiliates | (440 | ) | (553 | ) | (1,226 | ) | ||||
Net cash provided by financing activities | (440 | ) | 5,669 | 7,417 | ||||||
Net increase (decrease) in cash | 549 | (5 | ) | (7,014 | ) | |||||
Cash at beginning of year | 16,489 | 16,494 | 23,508 | |||||||
Cash at end of year | $ | 17,038 | 16,489 | 16,494 | ||||||
See accompanying report of independent registered public accounting firm. |
Financial_Schedules_Schedule_I1
Financial Schedules Schedule III - Consolidated Supplementary Insurance Information (Notes) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Consolidated Supplementary Insurance Information [Abstract] | ' | ||||||
Supplementary Insurance Information, for Insurance Companies Disclosure [Text Block] | ' | ||||||
Schedule III | |||||||
Supplementary Insurance Information | |||||||
At December 31, | |||||||
2013 | 2012 | ||||||
(In thousands) | |||||||
Deferred policy acquisition cost: | |||||||
Life Insurance | $ | 118,274 | 110,144 | ||||
Home Service Insurance | 28,417 | 25,425 | |||||
Other Non-Insurance Enterprises | — | — | |||||
Total consolidated deferred policy acquisition costs | $ | 146,691 | 135,569 | ||||
Future policy benefit reserves and policy claims payable: | |||||||
Life Insurance | $ | 647,728 | 583,553 | ||||
Home Service Insurance | 243,276 | 247,022 | |||||
Other Non-Insurance Enterprises | — | — | |||||
Total consolidated future policy benefit reserves and policy claims payable | $ | 891,004 | 830,575 | ||||
Unearned premiums: | |||||||
Life Insurance | $ | 1,415 | 791 | ||||
Home Service Insurance | 223 | 206 | |||||
Other Non-Insurance Enterprises | — | — | |||||
Total consolidated unearned premiums | $ | 1,638 | 997 | ||||
Other policy claims and benefits payable: | |||||||
Life Insurance | $ | 49,668 | 43,063 | ||||
Home Service Insurance | 2,898 | 4,797 | |||||
Other Non-Insurance Enterprises | — | — | |||||
Total consolidated other policy claims and benefits payable | $ | 52,566 | 47,860 | ||||
See accompanying report of independent registered public accounting firm. | |||||||
For the Company's short duration premiums (property), written premium is not materially different from earned premium, therefore only earned premiums are detailed in Schedule IV. |
Financial_Schedules_Schedule_I2
Financial Schedules Schedule IV - Consolidated Reinsurance (Notes) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Consolidated Reinsurance [Abstract] | ' | |||||||||||||||
Supplemental Schedule of Reinsurance Premiums for Insurance Companies [Text Block] | ' | |||||||||||||||
Schedule IV | ||||||||||||||||
Reinsurance | ||||||||||||||||
Direct | Ceded to | Assumed | Net Amount | % of | ||||||||||||
Amount | Other | From Other | Amount | |||||||||||||
Companies | Companies | Assumed to | ||||||||||||||
Net | ||||||||||||||||
(In thousands) | ||||||||||||||||
Year ended December 31, 2013 | ||||||||||||||||
Life insurance in force | $ | 4,731,606 | 467,491 | 352,013 | 4,616,128 | 7.6 | % | |||||||||
Premiums: | ||||||||||||||||
Life insurance | 171,752 | 2,257 | 188 | 169,683 | ||||||||||||
Accident and health insurance | 1,581 | 52 | — | 1,529 | ||||||||||||
Property insurance | 6,053 | 1,107 | — | 4,946 | ||||||||||||
Total premiums | $ | 179,386 | 3,416 | 188 | 176,158 | 0.1 | % | |||||||||
Year ended December 31, 2012 | ||||||||||||||||
Life insurance in force | $ | 4,641,794 | 466,898 | 801,261 | 4,976,157 | 16.1 | % | |||||||||
Premiums: | ||||||||||||||||
Life insurance | 163,935 | 2,040 | 1,275 | 163,170 | ||||||||||||
Accident and health insurance | 5,509 | 3,874 | — | 1,635 | ||||||||||||
Property insurance | 6,102 | 1,034 | — | 5,068 | ||||||||||||
Total premiums | $ | 175,546 | 6,948 | 1,275 | 169,873 | 0.8 | % | |||||||||
Year ended December 31, 2011 | ||||||||||||||||
Life insurance in force | $ | 4,559,198 | 462,220 | 1,147,222 | 5,244,200 | 21.9 | % | |||||||||
Premiums: | ||||||||||||||||
Life insurance | 154,812 | 1,908 | 1,874 | 154,778 | ||||||||||||
Accident and health insurance | 6,091 | 4,530 | — | 1,561 | ||||||||||||
Property insurance | 6,184 | 1,128 | — | 5,056 | ||||||||||||
Total premiums | $ | 167,087 | 7,566 | 1,874 | 161,395 | 1.2 | % | |||||||||
Significant_Accounting_Policie
Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ||||||||||
Accounting Changes and Error Corrections [Text Block] | ' | ||||||||||
Miscellaneous Income | |||||||||||
Certain items have been recorded to miscellaneous income in the current year that relate to two corrections resulting from prior year transactions. We identified certain SPLIC acquisition conversion items where the benefit had been paid prior to acquisition. These records were incorrectly converted to the insurance inforce during 2005. The items have been written off in the current year and totaled $0.2 million. The second correction related to checks issued for policy benefit funds on terminated policies where the benefit should have been used to extend the insurance contract prior to termination. These amounts have also been written off in the current reporting period and totaled $0.3 million. These amounts are related to prior periods from 2008 to 2010. | |||||||||||
Basis of Presentation and Consolidation [Policy Text Block] | ' | ||||||||||
Basis of Presentation and Consolidation | |||||||||||
The accompanying consolidated financial statements of Citizens, Inc. and its wholly-owned subsidiaries have been prepared in conformity with U.S. generally accepted accounting principles ("U.S. GAAP"). | |||||||||||
The consolidated financial statements include the accounts and operations of Citizens, Inc. ("Citizens"), a Colorado corporation, and its wholly-owned subsidiaries, CICA Life Insurance Company of America ("CICA"), Citizens National Life Insurance Company ("CNLIC"), Security Plan Life Insurance Company ("SPLIC"), Security Plan Fire Insurance Company ("SPFIC"), Computing Technology, Inc. ("CTI"), and Insurance Investors, Inc. ("III"). All significant inter-company accounts and transactions have been eliminated. Citizens and its wholly-owned subsidiaries are collectively referred to as "the Company", "we," or "our." | |||||||||||
We provide primarily life insurance, as well as a small amount of health insurance policies, through three of our subsidiaries - CICA, SPLIC, and CNLIC. CICA and CNLIC issue ordinary whole-life policies, burial insurance, pre-need policies, and accident and health related policies throughout the Midwest and southern United States. CICA also issues ordinary whole-life policies to non-U.S. residents. SPLIC offers final expense and home service life insurance in Louisiana, Arkansas and Mississippi, and SPFIC, a wholly-owned subsidiary of SPLIC, writes a limited amount of property insurance in Louisiana. | |||||||||||
CTI provides data processing systems and services, as well as furniture and equipment, to the Company. III provides aviation transportation to the Company. | |||||||||||
Investments [Policy Text Block] | ' | ||||||||||
Short-term Investments | |||||||||||
The Company considers investments maturing within one year at acquisition as short-term. These securities are carried at amortized cost, which approximates market value. | |||||||||||
Investments | |||||||||||
Investment securities are classified as held-to-maturity, available-for-sale or trading. Management determines the appropriate classification at the time of purchase. The classification of securities is significant since it directly impacts the accounting for unrealized gains and losses on securities. Fixed maturity securities are classified as held-to-maturity and carried at amortized cost when management has the positive intent and the Company has the ability to hold the securities to maturity. Securities not classified as held-to-maturity are classified as available-for-sale and are carried at fair value, with the unrealized holding gains and losses, net of tax, reported in other comprehensive income and do not affect earnings until realized. Fixed maturities consist primarily of bonds classified as available-for-sale or held-to-maturity. The Company does not classify any fixed maturities as trading. Equity securities (including non-redeemable preferred stock) are considered available-for-sale and are reported at fair value. | |||||||||||
Unrealized appreciation (depreciation) of equity securities and fixed maturities held as available-for-sale is shown as a separate component of stockholders' equity, net of tax, and is a separate component of comprehensive income. | |||||||||||
The Company evaluates all securities on a quarterly basis, and more frequently when economic conditions warrant additional evaluations, for determining if an other-than-temporary impairment ("OTTI") exists pursuant to the accounting guidelines. In evaluating the possible impairment of securities, consideration is given to the length of time and the extent to which the fair value has been less than cost, the financial conditions and near-term prospects of the issuer, and the ability and intent of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. In analyzing an issuer’s financial condition, the Company may consider whether the securities are issued by the Federal government or its agencies, by government-sponsored agencies, or whether downgrades by bond rating agencies have occurred, and reviews of the issuer’s financial condition. | |||||||||||
If management determines that an investment experienced an OTTI, management must then determine the amount of OTTI to be recognized in earnings. If management does not intend to sell the security and it is more likely than not that the Company will not be required to sell the security before recovery of its amortized cost basis less any current period loss, the OTTI will be separated into the amount representing the credit loss and the amount related to all other factors. The amount of OTTI related to the credit loss is determined based on the present value of cash flows expected to be collected and is recognized in earnings. The amount of OTTI related to other factors will be recognized in other comprehensive income, net of applicable taxes. The previous amortized cost basis less the OTTI recognized in earnings will become the new amortized cost basis of the investment. If management intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis less any current period credit loss, the OTTI will be recognized in earnings equal to the entire difference between the investment's amortized cost basis and its fair value at the balance sheet date. Any recoveries related to the value of these securities are recorded as an unrealized gain (as other comprehensive income (loss) in stockholders' equity) and not recognized in income until the security is ultimately sold. | |||||||||||
The Company from time to time may dispose of an impaired security in response to asset/liability management decisions, future market movements, business plan changes, or if the net proceeds can be reinvested at a rate of return that is expected to recover the loss within a reasonable period of time. | |||||||||||
Mortgage loans on real estate and policy loans are reported at unpaid principal balances. | |||||||||||
Real estate and other long-term investments consist primarily of land and buildings that are recorded at depreciated cost. If the fair value of the real estate is less than the carrying value, an impairment loss is recognized and charged to earnings. | |||||||||||
Premiums and discounts are amortized or accreted over the life of the related security as an adjustment to yield using the effective interest method. Dividend and interest income is recognized when earned. Realized gains and losses are included in earnings and are derived using the specific identification method for determining the cost of securities sold. | |||||||||||
The Company had cash equivalents and fixed maturities with an aggregate fair value of $9.3 million and $10.2 million at December 31, 2013 and 2012, respectively, on deposit with various state regulatory authorities to fulfill statutory requirements. | |||||||||||
Premium Revenue and Related Expenses [Policy Text Block] | ' | ||||||||||
Premium Revenue and Related Expenses | |||||||||||
Premiums on life policies are recognized as earned when due. Due premiums on the balance sheet are net of allowances. Accident and health policies are recognized as revenue over the contract period on a pro rata basis. Benefits and expenses are associated with earned premiums so as to result in the recognition of profits over the estimated lives of the contracts. This matching is accomplished by means of a provision for future policy benefits and the capitalization and amortization of deferred policy acquisition costs. | |||||||||||
Annuity policies, primarily flexible premium fixed annuity products, are accounted for in a manner consistent with accounting for interest bearing financial instruments. Premium receipts are not reported as revenue, rather as deposit liabilities to annuity contracts. The annuity products issued do not include fees or other such charges. | |||||||||||
Deferred Policy Acquisition Costs and Cost of Customer Relationships Acquired, Policy [Policy Text Block] | ' | ||||||||||
Deferred Policy Acquisition Costs and Cost of Customer Relationships Acquired | |||||||||||
Acquisition costs, consisting of commissions and policy issuance, underwriting and agent convention expenses that are primarily related to and vary with the successful production of new and renewal business, have been deferred. These deferred amounts, referred to as deferred policy acquisition costs ("DAC"), are recorded as an asset on the balance sheet and amortized to income in a systematic manner, based on related contract revenues or gross profits as appropriate. | |||||||||||
Traditional life insurance and accident and health insurance acquisition costs are being amortized over the premium paying period of the related policies using assumptions consistent with those used in computing future policy benefit liabilities. For universal life type contracts and investment contracts that include significant surrender charges or that yield significant revenues from sources other than the investment contract holders' funds, the deferred contract acquisition cost amortization is matched to the recognition of gross profit. The effect on the DAC asset that would result from realization of unrealized gains or losses is recognized with an offset to accumulated other comprehensive income in consolidated stockholders' equity. If an internal replacement of insurance or investment contract modification substantially changes a contract as defined in current accounting guidance, then the DAC is written off immediately through income and any new deferrable costs associated with the new replacement are deferred. If a contract modification does not substantially change the contract, the DAC amortization on the original contract will continue and any acquisition costs associated with the related modification are immediately expensed. | |||||||||||
We utilize the factor method to determine the amount of costs to be capitalized and the ending asset balance. The factor method is based on the ratio of premium revenue recognized for the policies in force at the end of each reporting period compared to the premium revenue recognized for policies in force at the beginning of the reporting period. The factor method ensures that policies lapsed or surrendered during the reporting period are no longer included in the deferred policy acquisition costs calculation. The factor method limits the amount of deferred costs to its estimated realizable value, provided actual experience is comparable to that contemplated in the factors. | |||||||||||
Inherent in the capitalization and amortization of deferred policy acquisition costs are certain management judgments about what acquisition costs are deferred, the ending asset balance and the annual amortization. Approximately 91% of our capitalized deferred acquisition costs are attributed to first year and renewal excess commissions. The remaining 9% are attributed to costs that vary with and are directly related to the acquisition of new insurance business. Those costs generally include costs related to the production, underwriting and issuance of new business. | |||||||||||
A recoverability test that considers, among other things, actual experience and projected future experience is performed at least annually. These annual recoverability tests initially calculate the available premium (gross premium less the benefit and expense portion of premium) for the next 30 years. The available premium per policy and the deferred policy acquisition costs per policy are then calculated. The deferred policy acquisition costs are then evaluated over two methods utilizing reasonable assumptions and two other methods using pessimistic assumptions. Management believes that our deferred policy acquisition costs and related amortization for the years ended December 31, 2013, 2012 and 2011 limits the amount of deferred costs to its estimated realizable value. This belief is based upon the analysis performed on capitalized expenses that vary with and are primarily related to the acquisition of new and renewal insurance business, utilization of the factor method and annual recoverability testing. | |||||||||||
The components of deferred acquisition costs from year to year are summarized as follows: | |||||||||||
For the Years Ended December 31, | |||||||||||
2013 | 2012 | 2011 | |||||||||
(In thousands) | |||||||||||
Balance at beginning of period | $ | 135,569 | 124,542 | 113,761 | |||||||
Capitalized | 29,398 | 29,074 | 27,826 | ||||||||
Amortized | (18,511 | ) | (17,845 | ) | (16,848 | ) | |||||
Effects of unrealized (gains) losses | 235 | (202 | ) | (197 | ) | ||||||
Balance at end of period | $ | 146,691 | 135,569 | 124,542 | |||||||
Cost of customer relationships acquired ("CCRA") is established when we purchase a block of insurance. CCRA is amortized primarily over the emerging profit of the related policies using the same assumptions as were used in computing liabilities for future policy benefits. We utilize various methods to determine the amount of the ending asset balance, including a static model and a dynamic model. Inherent in the amortization of CCRA are certain management judgments about the ending asset balance and the annual amortization. The assumptions used are based upon interest, mortality and lapses at the time of purchase. | |||||||||||
A recoverability test that considers, among other things, actual experience and projected future experience is performed at least annually. These annual recoverability tests initially calculate the available premium (gross premium less the benefit and expense portion of premium) for the next thirty years. The CCRA is then evaluated utilizing reasonable assumptions. Management believes that our CCRA and related amortization is recoverable for the years ended December 31, 2013, 2012 and 2011. This belief is based upon the analysis performed on estimated future results of the block and our annual recoverability testing. | |||||||||||
Cost of customer relationships acquired relative to purchased blocks of insurance is summarized as follows: | |||||||||||
For the Years Ended December 31, | |||||||||||
2013 | 2012 | 2011 | |||||||||
(In thousands) | |||||||||||
Balance at beginning of period | $ | 25,116 | 27,945 | 31,631 | |||||||
Amortization | (2,408 | ) | (2,467 | ) | (2,998 | ) | |||||
Change in effects of unrealized (gains) losses on CCRA | 666 | (362 | ) | (688 | ) | ||||||
Balance at end of period | $ | 23,374 | 25,116 | 27,945 | |||||||
Estimated amortization of cost of customer relationship acquired in each of the next five years and thereafter is as follows. Actual future amortization will differ from these estimates due to variances from estimated future withdrawal assumptions. | |||||||||||
Amount | |||||||||||
(In thousands) | |||||||||||
Year: | |||||||||||
2014 | $ | 1,924 | |||||||||
2015 | 1,742 | ||||||||||
2016 | 1,612 | ||||||||||
2017 | 1,478 | ||||||||||
2018 | 1,358 | ||||||||||
Thereafter | 15,659 | ||||||||||
23,773 | |||||||||||
Effects of unrealized (gains) losses on CCRA | (399 | ) | |||||||||
Total | $ | 23,374 | |||||||||
The value of CCRA in our various acquisitions, which is included in cost of customer relationships acquired in the accompanying consolidated financial statements, was determined based on the present value of future profits discounted at annual rates ranging from 4.5% to 8.5%. | |||||||||||
Future Policy Benefits and Expenses [Policy Text Block] | ' | ||||||||||
Future Policy Benefits and Expenses | |||||||||||
Future policy benefit reserves for traditional life insurance and accident and health insurance contract benefits and expenses are computed using a net level premium method, with assumptions as to investment yields, dividends on participating business, mortality and withdrawals based upon our experience, modified as necessary to reflect anticipated trends and to include provisions for possible unfavorable deviations. | |||||||||||
The accrued account balance for non-traditional life insurance and investment contracts is computed as deposits net of withdrawals made by the contract holder, plus amounts credited based on contract specifications, less contract fees and charges assessed, plus any additional interest. Annuity interest crediting rates range from 3.0% to 5.5% annually. Benefits and expenses are charged against the account balance to recognize costs as incurred over the estimated lives of the contracts. Expenses include interest credited to contract account balances and benefits paid in excess of contract account balances. | |||||||||||
Unpaid claims on accident and health policies represent the estimated liability for benefit expenses, both reported but not paid and incurred but not reported to the Company. Liabilities for unpaid claims are estimated using individual case basis valuations and statistical analyses. Those estimates are subject to the effects of trends in claim severity and frequency. | |||||||||||
Anticipated investment income is not considered in determining whether a premium deficiency exists with respect to short-duration contracts. Premium deposits accrue interest at rates ranging from 4.0% to 8.25% per annum. The cost of insurance is included in the premium when collected and interest is credited annually to deposit accounts. | |||||||||||
The development of liabilities for future policy benefits requires management to make estimates and assumptions regarding mortality, morbidity, lapse, expense, and investment experience. These estimates are based primarily on historical experience and future expectations of mortality, morbidity, expense, persistency, and investment assumptions. Actual results could differ materially from estimates. We monitor actual experience and revise assumptions as necessary. | |||||||||||
Goodwill and Other Intangible Assets [Policy Text Block] | ' | ||||||||||
Goodwill and Other Intangible Assets | |||||||||||
Goodwill is the difference between the purchase price in a business combination and the fair value of assets and liabilities acquired, and is not amortized. Other intangible assets include various state insurance licenses, which have been determined to have indefinite useful lives and, therefore, are not amortized. Both goodwill and other intangible assets with indefinite useful lives are subject to annual impairment analyses. | |||||||||||
The goodwill impairment test uses a two step process as set forth under current accounting guidance. In the first step, the fair value of a reporting unit is compared to its carrying value. If the carrying value of a reporting unit exceeds its fair value, the second step of the impairment test is performed for purposes of measuring the impairment. In the second step, the fair value of the reporting unit is allocated to all of the assets and liabilities of the reporting unit to determine an implied goodwill value. If the carrying amount of the reporting unit goodwill exceeds the implied goodwill value, an impairment loss is recognized in an amount equal to that excess. | |||||||||||
Management's determination of the fair value of each reporting unit incorporates multiple inputs including discounted cash flow calculations, peer company price to earnings multiples, the level of the Company's Class A common stock price and assumptions that market participants would make in valuing the reporting unit. Other assumptions can include levels of economic capital, future business growth, and earnings projections. | |||||||||||
As of December 31, 2013, the Company had goodwill of $12.6 million allocated to the Life Insurance segment and $4.5 million allocated to the Home Service Insurance segment. The Company completes its annual goodwill assessment for the individual reporting units within the Life Insurance segment and Home Service Insurance segment as of December 31 each year. There was no impairment of goodwill in 2013, 2012 or 2011. | |||||||||||
Goodwill is summarized as follows: | |||||||||||
Net Amount | |||||||||||
(In thousands) | |||||||||||
Balance at January 1, 2011 | $ | 17,160 | |||||||||
Acquisition | — | ||||||||||
Adjustments | — | ||||||||||
Balance at December 31, 2011, 2012 and 2013 | $ | 17,160 | |||||||||
Participating Policies [Policy Text Block] | ' | ||||||||||
Participating Policies | |||||||||||
At December 31, 2013 and 2012, participating business approximated 60.7% and 60.8%, respectively, of direct life insurance in force. | |||||||||||
Future policy benefits on participating policies are estimated based on net level premium reserves for death and endowment policy benefits with interest rates ranging from 3% to 8%, and the cash surrender values described in such contracts. The scaling rate used for the 2013 portfolio ranged between 3.7% for 2 years and then going up to 5% over 15 years and remaining there for the duration. Earnings and dividends on participating policies are allocated based on policies in force. | |||||||||||
Policyholder dividends are determined based on the discretion of the Board of Directors of the policy issuing subsidiary. Policyholder dividends are accrued over the premium paying periods of the insurance contract. | |||||||||||
Earnings Per Share [Policy Text Block] | ' | ||||||||||
Earnings Per Share | |||||||||||
Basic earnings per share are computed by dividing income available to common stockholders by the weighted average number of shares of common stock outstanding during each period. Diluted earnings per share are computed under the if-converted method for convertible securities and the treasury stock method for warrants, giving effect to all potential dilutive common stock, including options, warrants and convertible/redeemable preferred stock. The basic and diluted earnings per share of Class B common stock are one half the earnings per share of the Class A common stock. | |||||||||||
During 2011, the warrants associated with the Series A-1 Preferred Stock were either exercised or expired on July 12, 2011. Shares issued from the exercise of warrants totaled 255,216, and 1,989 common Class A shares were issued under a cashless provision in the Preferred Stock contract. Additionally, 9,487 shares were issued from the exercise of warrants at various dates in 2011. During 2012, the warrants associated with the Series A-2 Preferred Stock were either exercised or expired. Shares issued from the exercise of warrants totaled 113,057 and 13,606 common Class A shares were issued under a cashless provision in the Preferred Stock contract. | |||||||||||
The following table sets forth the computation of basic and diluted earnings per share. | |||||||||||
Years Ended December 31, | |||||||||||
2013 | 2012 | 2011 | |||||||||
(In thousands, except per share amounts) | |||||||||||
Basic and diluted earnings per share: | |||||||||||
Numerator: | |||||||||||
Net income | $ | 4,793 | 4,529 | 8,482 | |||||||
Net income allocated to Class A common stock | $ | 4,745 | 4,483 | 8,397 | |||||||
Net income allocated to Class B common stock | 48 | 46 | 85 | ||||||||
Net income | $ | 4,793 | 4,529 | 8,482 | |||||||
Denominator: | |||||||||||
Weighted average shares of Class A outstanding - basic | 49,080 | 49,005 | 48,809 | ||||||||
Weighted average shares of Class B outstanding - basic and diluted | 1,002 | 1,002 | 1,002 | ||||||||
Total weighted average shares outstanding - basic | 50,082 | 50,007 | 49,811 | ||||||||
Basic and diluted earnings per share of Class A common stock | $ | 0.1 | 0.09 | 0.17 | |||||||
Basic and diluted earnings per share of Class B common stock | 0.05 | 0.05 | 0.09 | ||||||||
Income Taxes [Policy Text Block] | ' | ||||||||||
Income Taxes | |||||||||||
Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered. | |||||||||||
A deferred tax asset is recorded only if a determination is made that it is more-likely-than-not that the tax treatment on which the deferred tax asset depends will be sustained in the event of an audit. These determinations inherently involve management's judgment. In addition, the Company must record a tax valuation allowance with respect to deferred tax assets if it is more-likely-than-not that the tax benefit will not be realized. This valuation allowance is in essence a contra account to the deferred tax asset. Management must determine the portion of the deferred tax asset and resulting tax benefit that may not be realized based upon judgment of expected outcomes. Due to significant estimates utilized in establishing the valuation allowance and the potential for changes in facts and circumstances, it is reasonably possible that we will be required to record adjustments to the valuation allowance in future reporting periods. Such a charge could have a material adverse effect on our results of operations, financial condition and capital position. | |||||||||||
Property and Equipment, Depreciation [Policy Text Block] | ' | ||||||||||
Property and Equipment | |||||||||||
Property and equipment, including leasehold improvements, are carried at cost less accumulated depreciation. Depreciation of property and equipment is computed using the straight-line method over the useful lives of the assets, ranging from three to thirty years. We amortize leasehold improvements over the shorter of the related lease term or the estimated life of the improvements. The Company has no capital leases. | |||||||||||
The following is a summary of property and equipment. | |||||||||||
For the Years Ended December 31, | |||||||||||
2013 | 2012 | ||||||||||
(In thousands) | |||||||||||
Property and equipment: | |||||||||||
Home office, land and buildings | $ | 9,696 | 9,511 | ||||||||
Furniture and equipment | 2,472 | 2,464 | |||||||||
Electronic data processing equipment | 4,170 | 4,083 | |||||||||
Automobiles and marine assets | 373 | 382 | |||||||||
Airplane | 3,345 | 3,282 | |||||||||
Total property and equipment | 20,056 | 19,722 | |||||||||
Accumulated depreciation | (13,394 | ) | (12,339 | ) | |||||||
Balance at end of period | $ | 6,662 | 7,383 | ||||||||
Depreciation | |||||||||||
Depreciation on most property and equipment is calculated on a straight-line basis using estimated useful lives ranging from three to ten years. Building improvements are depreciated over the estimated lives of thirty years. | |||||||||||
Reinsurance Recoverable [Policy Text Block] | ' | ||||||||||
Reinsurance Recoverable | |||||||||||
Reinsurance recoverable includes expected reimbursements for policyholder claim amounts in excess of the Company's retention, as well as profit sharing and experience refund accruals. Reinsurance recoverable is reduced for estimated uncollectible amounts, if any. | |||||||||||
Reinsurance premiums, losses and adjustment expenses are accounted for on a basis consistent with those used in accounting for the original policies issued and the terms of the reinsurance contracts. The cost of reinsurance related to long duration contracts is accounted for over the life of the underlying reinsured policies using assumptions consistent with those used to account for the underlying policies. The cost of reinsurance related to short duration contracts is accounted for over the coverage period. Profit-sharing and similar adjustable provisions are accrued based on the experience of the underlying policies. | |||||||||||
Cash Equivalents [Policy Text Block] | ' | ||||||||||
Cash Equivalents | |||||||||||
The Company considers as cash equivalents all securities whose duration does not exceed 90 days at the date of acquisition. | |||||||||||
Commissions Payable [Policy Text Block] | ' | ||||||||||
Commissions Payable | |||||||||||
The Company recorded a reduction of approximately $0.4 million in commission expense for the year ended 2012 due to balances that were held pending validation that are no longer considered payable. | |||||||||||
Use of Estimates, Policy [Policy Text Block] | ' | ||||||||||
Use of Estimates | |||||||||||
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from these estimates. | |||||||||||
Reserving assumptions are reviewed to ensure our original assumptions at the time of policy issuance that related to interest, mortality, withdrawals, and settlement expenses are based upon management’s best judgment. In 2013 and 2012, the Company revised assumptions used in the development of reserve and DAC balances to reflect the current assumptions. The adjustment resulted in a decrease of approximately $0.2 million to reserves and an increase in the DAC asset of approximately $0.2 million for 2013 and an increase of $0.2 million to reserves and a decrease of | |||||||||||
Reclassification, Policy [Policy Text Block] | ' | ||||||||||
Reclassifications | |||||||||||
Certain amounts presented in prior years have been reclassified to conform to the current presentation. No individual amounts were material. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies Financial Statements (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ||||||||||
Deferred Policy Acquisition Costs [Table Text Block] | ' | ||||||||||
The components of deferred acquisition costs from year to year are summarized as follows: | |||||||||||
For the Years Ended December 31, | |||||||||||
2013 | 2012 | 2011 | |||||||||
(In thousands) | |||||||||||
Balance at beginning of period | $ | 135,569 | 124,542 | 113,761 | |||||||
Capitalized | 29,398 | 29,074 | 27,826 | ||||||||
Amortized | (18,511 | ) | (17,845 | ) | (16,848 | ) | |||||
Effects of unrealized (gains) losses | 235 | (202 | ) | (197 | ) | ||||||
Balance at end of period | $ | 146,691 | 135,569 | 124,542 | |||||||
Intangible Assets Arising from Insurance Contracts Acquired in Business Combination [Table Text Block] | ' | ||||||||||
Cost of customer relationships acquired relative to purchased blocks of insurance is summarized as follows: | |||||||||||
For the Years Ended December 31, | |||||||||||
2013 | 2012 | 2011 | |||||||||
(In thousands) | |||||||||||
Balance at beginning of period | $ | 25,116 | 27,945 | 31,631 | |||||||
Amortization | (2,408 | ) | (2,467 | ) | (2,998 | ) | |||||
Change in effects of unrealized (gains) losses on CCRA | 666 | (362 | ) | (688 | ) | ||||||
Balance at end of period | $ | 23,374 | 25,116 | 27,945 | |||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | ' | ||||||||||
Estimated amortization of cost of customer relationship acquired in each of the next five years and thereafter is as follows. Actual future amortization will differ from these estimates due to variances from estimated future withdrawal assumptions. | |||||||||||
Amount | |||||||||||
(In thousands) | |||||||||||
Year: | |||||||||||
2014 | $ | 1,924 | |||||||||
2015 | 1,742 | ||||||||||
2016 | 1,612 | ||||||||||
2017 | 1,478 | ||||||||||
2018 | 1,358 | ||||||||||
Thereafter | 15,659 | ||||||||||
23,773 | |||||||||||
Effects of unrealized (gains) losses on CCRA | (399 | ) | |||||||||
Total | $ | 23,374 | |||||||||
Schedule of Goodwill [Table Text Block] | ' | ||||||||||
Goodwill is summarized as follows: | |||||||||||
Net Amount | |||||||||||
(In thousands) | |||||||||||
Balance at January 1, 2011 | $ | 17,160 | |||||||||
Acquisition | — | ||||||||||
Adjustments | — | ||||||||||
Balance at December 31, 2011, 2012 and 2013 | $ | 17,160 | |||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||||
The following table sets forth the computation of basic and diluted earnings per share. | |||||||||||
Years Ended December 31, | |||||||||||
2013 | 2012 | 2011 | |||||||||
(In thousands, except per share amounts) | |||||||||||
Basic and diluted earnings per share: | |||||||||||
Numerator: | |||||||||||
Net income | $ | 4,793 | 4,529 | 8,482 | |||||||
Net income allocated to Class A common stock | $ | 4,745 | 4,483 | 8,397 | |||||||
Net income allocated to Class B common stock | 48 | 46 | 85 | ||||||||
Net income | $ | 4,793 | 4,529 | 8,482 | |||||||
Denominator: | |||||||||||
Weighted average shares of Class A outstanding - basic | 49,080 | 49,005 | 48,809 | ||||||||
Weighted average shares of Class B outstanding - basic and diluted | 1,002 | 1,002 | 1,002 | ||||||||
Total weighted average shares outstanding - basic | 50,082 | 50,007 | 49,811 | ||||||||
Basic and diluted earnings per share of Class A common stock | $ | 0.1 | 0.09 | 0.17 | |||||||
Basic and diluted earnings per share of Class B common stock | 0.05 | 0.05 | 0.09 | ||||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||||
The following is a summary of property and equipment. | |||||||||||
For the Years Ended December 31, | |||||||||||
2013 | 2012 | ||||||||||
(In thousands) | |||||||||||
Property and equipment: | |||||||||||
Home office, land and buildings | $ | 9,696 | 9,511 | ||||||||
Furniture and equipment | 2,472 | 2,464 | |||||||||
Electronic data processing equipment | 4,170 | 4,083 | |||||||||
Automobiles and marine assets | 373 | 382 | |||||||||
Airplane | 3,345 | 3,282 | |||||||||
Total property and equipment | 20,056 | 19,722 | |||||||||
Accumulated depreciation | (13,394 | ) | (12,339 | ) | |||||||
Balance at end of period | $ | 6,662 | 7,383 | ||||||||
Investments_Debt_And_Equity_Se1
Investments Debt And Equity Securities (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Investments Including Short Term And Cash And Cash Equivalents [Abstract] | ' | |||||||||||||||||||||||||||
investments Including Short Term And Cash And Cash Equivalents [Table Text Block] | ' | |||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||||
Carrying | % of Total | Carrying | % of Total | |||||||||||||||||||||||||
Value | Carrying Value | Value | Carrying Value | |||||||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||||||
Fixed maturity securities | $ | 832,952 | 83.9 | $ | 791,528 | 82.7 | ||||||||||||||||||||||
Equity securities | 47,259 | 4.8 | 53,741 | 5.6 | ||||||||||||||||||||||||
Mortgage loans | 671 | 0.1 | 1,509 | 0.2 | ||||||||||||||||||||||||
Policy loans | 48,868 | 4.8 | 42,993 | 4.5 | ||||||||||||||||||||||||
Real estate and other long-term investments | 8,485 | 0.9 | 8,553 | 0.9 | ||||||||||||||||||||||||
Short-term investments | — | — | 2,340 | 0.2 | ||||||||||||||||||||||||
Cash and cash equivalents | 54,593 | 5.5 | 56,299 | 5.9 | ||||||||||||||||||||||||
Total cash, cash equivalents and investments | $ | 992,828 | 100 | $ | 956,963 | 100 | ||||||||||||||||||||||
Unrealized Gain (Loss) on Investments [Abstract] | ' | |||||||||||||||||||||||||||
Unrealized Gain (Loss) on Investments [Table Text Block] | ' | |||||||||||||||||||||||||||
The cost, gross unrealized gains and losses and fair value of investments in fixed maturities and equity securities, as of December 31, 2013 and 2012, are as follows. | ||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
Cost or | Gross | Gross | Fair | |||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Value | |||||||||||||||||||||||||
Cost | Gains | Losses | ||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Fixed maturities: | ||||||||||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||
U.S. Treasury securities | $ | 10,115 | 2,348 | — | 12,463 | |||||||||||||||||||||||
U.S. Government-sponsored enterprises | 53,587 | 1,209 | 228 | 54,568 | ||||||||||||||||||||||||
States and political subdivisions | 341,673 | 6,242 | 11,449 | 336,466 | ||||||||||||||||||||||||
Foreign governments | 104 | 23 | — | 127 | ||||||||||||||||||||||||
Corporate | 186,671 | 12,289 | 1,399 | 197,561 | ||||||||||||||||||||||||
Commercial mortgage-backed | 300 | 9 | — | 309 | ||||||||||||||||||||||||
Residential mortgage-backed | 3,494 | 270 | 2 | 3,762 | ||||||||||||||||||||||||
Total available-for-sale securities | 595,944 | 22,390 | 13,078 | 605,256 | ||||||||||||||||||||||||
Held-to-maturity securities: | ||||||||||||||||||||||||||||
U.S. Government-sponsored enterprises | 8,877 | 197 | 3 | 9,071 | ||||||||||||||||||||||||
States and political subdivisions | 181,246 | 1,633 | 6,412 | 176,467 | ||||||||||||||||||||||||
Corporate | 37,573 | 771 | 349 | 37,995 | ||||||||||||||||||||||||
Total held-to-maturity securities | 227,696 | 2,601 | 6,764 | 223,533 | ||||||||||||||||||||||||
Total fixed maturity securities | $ | 823,640 | 24,991 | 19,842 | 828,789 | |||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||
Stock mutual funds | $ | 10,463 | 1,506 | — | 11,969 | |||||||||||||||||||||||
Bond mutual funds | 35,080 | — | 417 | 34,663 | ||||||||||||||||||||||||
Common stock | 17 | — | 5 | 12 | ||||||||||||||||||||||||
Preferred stock | 323 | 292 | — | 615 | ||||||||||||||||||||||||
Total equity securities | $ | 45,883 | 1,798 | 422 | 47,259 | |||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||
Cost or | Gross | Gross | Fair | |||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Value | |||||||||||||||||||||||||
Cost | Gains | Losses | ||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Fixed maturities: | ||||||||||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||
U.S. Treasury securities | $ | 10,170 | 3,773 | — | 13,943 | |||||||||||||||||||||||
U.S. Government-sponsored enterprises | 81,788 | 3,815 | 22 | 85,581 | ||||||||||||||||||||||||
States and political subdivisions | 265,812 | 17,227 | 777 | 282,262 | ||||||||||||||||||||||||
Foreign governments | 105 | 36 | — | 141 | ||||||||||||||||||||||||
Corporate | 195,755 | 20,536 | 286 | 216,005 | ||||||||||||||||||||||||
Commercial mortgage-backed | 481 | 17 | 2 | 496 | ||||||||||||||||||||||||
Residential mortgage-backed | 5,625 | 469 | 2 | 6,092 | ||||||||||||||||||||||||
Total available-for-sale securities | 559,736 | 45,873 | 1,089 | 604,520 | ||||||||||||||||||||||||
Held-to-maturity securities: | ||||||||||||||||||||||||||||
U.S. Government-sponsored enterprises | 28,632 | 514 | — | 29,146 | ||||||||||||||||||||||||
States and political subdivisions | 125,634 | 5,435 | 378 | 130,691 | ||||||||||||||||||||||||
Corporate | 32,742 | 1,160 | — | 33,902 | ||||||||||||||||||||||||
Total held-to-maturity securities | 187,008 | 7,109 | 378 | 193,739 | ||||||||||||||||||||||||
Total fixed maturity securities | $ | 746,744 | 52,982 | 1,467 | 798,259 | |||||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||
Stock mutual funds | $ | 10,463 | 250 | 28 | 10,685 | |||||||||||||||||||||||
Bond mutual funds | 41,504 | 541 | 129 | 41,916 | ||||||||||||||||||||||||
Common stock | 17 | — | 2 | 15 | ||||||||||||||||||||||||
Preferred stock | 760 | 365 | — | 1,125 | ||||||||||||||||||||||||
Total equity securities | $ | 52,744 | 1,156 | 159 | 53,741 | |||||||||||||||||||||||
Unrealized Continuous Losses on Investments [Abstract] | ' | |||||||||||||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | ' | |||||||||||||||||||||||||||
For investments of available-for-sale fixed maturities and equity securities that have unrealized losses as of December 31, 2012, the cost, gross unrealized losses that have been in a continuous unrealized loss position for less than 12 months, gross unrealized losses that have been in a continuous unrealized loss position for 12 months or longer and fair value are as follows. | ||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||
Less than 12 months | Greater than 12 months | Total | ||||||||||||||||||||||||||
Fair | Unrealized | # of | Fair | Unrealized | # of | Fair | Unrealized | # of | ||||||||||||||||||||
Value | Losses | Securities | Value | Losses | Securities | Value | Losses | Securities | ||||||||||||||||||||
(In thousands, except for # of securities) | ||||||||||||||||||||||||||||
Fixed maturities: | ||||||||||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||
U.S. Government-sponsored enterprises | $ | 10,603 | 22 | 9 | — | — | — | 10,603 | 22 | 9 | ||||||||||||||||||
States and political subdivisions | 54,115 | 443 | 61 | 5,099 | 334 | 2 | 59,214 | 777 | 63 | |||||||||||||||||||
Corporate | 22,316 | 286 | 16 | — | — | — | 22,316 | 286 | 16 | |||||||||||||||||||
Commercial mortgage-backed | 94 | 2 | 1 | — | — | — | 94 | 2 | 1 | |||||||||||||||||||
Residential mortgage-backed | — | — | — | 52 | 2 | 1 | 52 | 2 | 1 | |||||||||||||||||||
Total available-for-sale securities | 87,128 | 753 | 87 | 5,151 | 336 | 3 | 92,279 | 1,089 | 90 | |||||||||||||||||||
Held-to-maturity securities: | ||||||||||||||||||||||||||||
States and political subdivisions | 40,611 | 378 | 32 | — | — | — | 40,611 | 378 | 32 | |||||||||||||||||||
Total held-to-maturity securities | 40,611 | 378 | 32 | — | — | — | 40,611 | 378 | 32 | |||||||||||||||||||
Total fixed maturities | $ | 127,739 | 1,131 | 119 | 5,151 | 336 | 3 | 132,890 | 1,467 | 122 | ||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||
Stock mutual funds | $ | — | — | — | 972 | 28 | 1 | 972 | 28 | 1 | ||||||||||||||||||
Bond mutual funds | 3,335 | 88 | 1 | 2,959 | 41 | 2 | 6,294 | 129 | 3 | |||||||||||||||||||
Common stocks | 15 | 2 | 1 | — | — | — | 15 | 2 | 1 | |||||||||||||||||||
Total equities | $ | 3,350 | 90 | 2 | 3,931 | 69 | 3 | 7,281 | 159 | 5 | ||||||||||||||||||
For investments of available-for-sale fixed maturities that have unrealized losses as of December 31, 2013, the cost, gross unrealized losses that have been in a continuous unrealized loss position for less than 12 months, gross unrealized losses that have been in a continuous unrealized loss position for 12 months or longer and fair value are as follows. | ||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||
Less than 12 months | Greater than 12 months | Total | ||||||||||||||||||||||||||
Fair | Unrealized | # of | Fair | Unrealized | # of | Fair | Unrealized | # of | ||||||||||||||||||||
Value | Losses | Securities | Value | Losses | Securities | Value | Losses | Securities | ||||||||||||||||||||
(In thousands, except for # of securities) | ||||||||||||||||||||||||||||
Fixed maturities: | ||||||||||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||
U.S. Government-sponsored enterprises | $ | 14,032 | 228 | 12 | — | — | — | 14,032 | 228 | 12 | ||||||||||||||||||
States and political subdivisions | 183,280 | 9,872 | 203 | 15,673 | 1,577 | 16 | 198,953 | 11,449 | 219 | |||||||||||||||||||
Corporate | 35,789 | 1,048 | 25 | 2,426 | 351 | 2 | 38,215 | 1,399 | 27 | |||||||||||||||||||
Residential mortgage-backed | 57 | 1 | 3 | 42 | 1 | 1 | 99 | 2 | 4 | |||||||||||||||||||
Total available-for-sale securities | 233,158 | 11,149 | 243 | 18,141 | 1,929 | 19 | 251,299 | 13,078 | 262 | |||||||||||||||||||
Held-to-maturity securities: | ||||||||||||||||||||||||||||
U.S. Government-sponsored enterprises | 2,997 | 3 | 1 | — | — | — | 2,997 | 3 | 1 | |||||||||||||||||||
States and political subdivisions | 100,153 | 5,236 | 118 | 14,797 | 1,176 | 17 | 114,950 | 6,412 | 135 | |||||||||||||||||||
Corporate | 5,225 | 349 | 4 | — | — | — | 5,225 | 349 | 4 | |||||||||||||||||||
Total held-to-maturity securities | 108,375 | 5,588 | 123 | 14,797 | 1,176 | 17 | 123,172 | 6,764 | 140 | |||||||||||||||||||
Total fixed maturities | $ | 341,533 | 16,737 | 366 | 32,938 | 3,105 | 36 | 374,471 | 19,842 | 402 | ||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||||||
Bond mutual funds | $ | 34,663 | 417 | 7 | — | — | — | 34,663 | 417 | 7 | ||||||||||||||||||
Common stocks | 12 | 5 | 1 | — | — | — | 12 | 5 | 1 | |||||||||||||||||||
Total equities | $ | 34,675 | 422 | 8 | — | — | — | 34,675 | 422 | 8 | ||||||||||||||||||
Schedule of Fixed Maturities [Abstract] | ' | |||||||||||||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | |||||||||||||||||||||||||||
The amortized cost and fair value of fixed maturities at December 31, 2013 by contractual maturity are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date have been reflected based upon the final stated maturity. | ||||||||||||||||||||||||||||
Cost or | Fair Value | |||||||||||||||||||||||||||
Amortized Cost | ||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||
Due in one year or less | $ | 17,183 | 17,414 | |||||||||||||||||||||||||
Due after one year through five years | 117,140 | 123,970 | ||||||||||||||||||||||||||
Due after five years through ten years | 94,156 | 96,647 | ||||||||||||||||||||||||||
Due after ten years | 367,465 | 367,225 | ||||||||||||||||||||||||||
Total available-for-sale securities | 595,944 | 605,256 | ||||||||||||||||||||||||||
Held-to-maturity securities: | ||||||||||||||||||||||||||||
Due in one year or less | 8,912 | 8,992 | ||||||||||||||||||||||||||
Due after one year through five years | 37,750 | 38,170 | ||||||||||||||||||||||||||
Due after five years through ten years | 43,384 | 43,888 | ||||||||||||||||||||||||||
Due after ten years | 137,650 | 132,483 | ||||||||||||||||||||||||||
Total held-to-maturity securities | 227,696 | 223,533 | ||||||||||||||||||||||||||
Total fixed maturities | $ | 823,640 | 828,789 | |||||||||||||||||||||||||
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract] | ' | |||||||||||||||||||||||||||
Schedule of Realized Gain (Loss) [Table Text Block] | ' | |||||||||||||||||||||||||||
Proceeds and gross realized gains and losses from sales of equity securities for 2013, 2012 and 2011 are summarized as follows: | ||||||||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Proceeds | $ | 5,996 | 2,855 | 7,504 | ||||||||||||||||||||||||
Gross realized gains | $ | — | 632 | 1,259 | ||||||||||||||||||||||||
Gross realized losses | $ | 428 | — | — | ||||||||||||||||||||||||
Proceeds and gross realized gains and losses from sales of fixed maturities available-for-sale for 2013, 2012 and 2011 are summarized as follows: | ||||||||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Proceeds | $ | 316 | 576 | — | ||||||||||||||||||||||||
Gross realized gains | $ | 7 | 54 | — | ||||||||||||||||||||||||
Gross realized losses | $ | 1 | 3 | — | ||||||||||||||||||||||||
Investment Income [Table Text Block] | ' | |||||||||||||||||||||||||||
Major categories of net investment income are summarized as follows: | ||||||||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Investment income on: | ||||||||||||||||||||||||||||
Fixed maturities | $ | 32,604 | 27,470 | 26,606 | ||||||||||||||||||||||||
Equity securities | 1,839 | 2,158 | 1,534 | |||||||||||||||||||||||||
Mortgage loans on real estate | 68 | 104 | 99 | |||||||||||||||||||||||||
Policy loans | 3,637 | 3,332 | 3,024 | |||||||||||||||||||||||||
Long-term investments | 229 | 234 | 225 | |||||||||||||||||||||||||
Other | 64 | 99 | 122 | |||||||||||||||||||||||||
Total investment income | 38,441 | 33,397 | 31,610 | |||||||||||||||||||||||||
Investment expenses | (1,844 | ) | (1,672 | ) | (1,511 | ) | ||||||||||||||||||||||
Net investment income | $ | 36,597 | 31,725 | 30,099 | ||||||||||||||||||||||||
Realized Gain (Loss) on Investments [Table Text Block] | ' | |||||||||||||||||||||||||||
Realized investment gains (losses) are as follows: | ||||||||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Realized investment gains (losses): | ||||||||||||||||||||||||||||
Sales, calls and maturities: | ||||||||||||||||||||||||||||
Fixed maturities | $ | 199 | 824 | 119 | ||||||||||||||||||||||||
Equity securities | (436 | ) | 636 | 1,259 | ||||||||||||||||||||||||
Property and equipment | — | — | 2 | |||||||||||||||||||||||||
Other long-term investments | (10 | ) | 55 | 16 | ||||||||||||||||||||||||
Net realized gains (losses) | (247 | ) | 1,515 | 1,396 | ||||||||||||||||||||||||
Other-than-temporary impairments ("OTTI") | ||||||||||||||||||||||||||||
Fixed maturities | — | (1,319 | ) | (70 | ) | |||||||||||||||||||||||
Other long-term investments | — | — | (561 | ) | ||||||||||||||||||||||||
Realized loss on OTTI | — | (1,319 | ) | (631 | ) | |||||||||||||||||||||||
Net realized investment gains (losses) | $ | (247 | ) | 196 | 765 | |||||||||||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | ' | ||||||||||||
The following table sets forth our assets and liabilities that are measured at fair value on a recurring basis as of the date indicated. | |||||||||||||
December 31, 2013 | |||||||||||||
Available-for-sale investments | Level 1 | Level 2 | Level 3 | Total | |||||||||
Fair Value | |||||||||||||
(In thousands) | |||||||||||||
Financial assets: | |||||||||||||
Fixed maturities: | |||||||||||||
U.S. Treasury and U.S. Government-sponsored enterprises | $ | 12,463 | 54,568 | — | 67,031 | ||||||||
States and political subdivisions | — | 336,466 | — | 336,466 | |||||||||
Corporate | — | 197,561 | — | 197,561 | |||||||||
Commercial mortgage-backed | — | — | 309 | 309 | |||||||||
Residential mortgage-backed | — | 3,762 | — | 3,762 | |||||||||
Foreign governments | — | 127 | — | 127 | |||||||||
Total fixed maturities | 12,463 | 592,484 | 309 | 605,256 | |||||||||
Equity securities: | |||||||||||||
Stock mutual funds | 11,969 | — | — | 11,969 | |||||||||
Bond mutual funds | 34,663 | — | — | 34,663 | |||||||||
Common stock | 12 | — | — | 12 | |||||||||
Preferred stock | 615 | — | — | 615 | |||||||||
Total equity securities | 47,259 | — | — | 47,259 | |||||||||
Total financial assets | $ | 59,722 | 592,484 | 309 | 652,515 | ||||||||
December 31, 2012 | |||||||||||||
Available-for-sale investments | Level 1 | Level 2 | Level 3 | Total | |||||||||
Fair Value | |||||||||||||
(In thousands) | |||||||||||||
Financial assets: | |||||||||||||
Fixed maturities: | |||||||||||||
U.S. Treasury and U.S. Government-sponsored enterprises | $ | 13,943 | 85,581 | — | 99,524 | ||||||||
States and political subdivisions | — | 282,262 | — | 282,262 | |||||||||
Corporate | — | 216,005 | — | 216,005 | |||||||||
Commercial mortgage-backed | — | 109 | 387 | 496 | |||||||||
Residential mortgage-backed | — | 6,092 | — | 6,092 | |||||||||
Foreign governments | — | 141 | — | 141 | |||||||||
Total fixed maturities | 13,943 | 590,190 | 387 | 604,520 | |||||||||
Equity securities: | |||||||||||||
Stock mutual funds | 10,685 | — | — | 10,685 | |||||||||
Bond mutual funds | 41,916 | — | — | 41,916 | |||||||||
Common stock | 15 | — | — | 15 | |||||||||
Preferred stock | 1,125 | — | — | 1,125 | |||||||||
Total equity securities | 53,741 | — | — | 53,741 | |||||||||
Total financial assets | $ | 67,684 | 590,190 | 387 | 658,261 | ||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | ||||||||||||
The following table presents additional information about fixed maturity securities measured at fair value on a recurring basis and for which we have utilized significant unobservable (Level 3) inputs to determine fair value: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Beginning Balance at January 1, | $ | 387 | 459 | ||||||||||
Total realized and unrealized gains (losses) | |||||||||||||
Included in net income | — | — | |||||||||||
Included in other comprehensive income | (7 | ) | (6 | ) | |||||||||
Principal paydowns | (71 | ) | (66 | ) | |||||||||
Transfer in and (out) of Level 3 | — | — | |||||||||||
Ending Balance at December 31, | $ | 309 | 387 | ||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | ||||||||||||
The carrying amount and fair value for the financial assets and liabilities on the consolidated balance sheets at each year-end were as follows: | |||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||
Value | Value | Value | Value | ||||||||||
(In thousands) | (In thousands) | ||||||||||||
Financial assets: | |||||||||||||
Fixed maturities, held-to-maturity | $ | 227,696 | 223,533 | 187,008 | 193,739 | ||||||||
Mortgage loans | 671 | 695 | 1,509 | 1,503 | |||||||||
Policy loans | 48,868 | 48,868 | 42,993 | 42,993 | |||||||||
Short-term investments | — | — | 2,340 | 2,340 | |||||||||
Cash and cash equivalents | 54,593 | 54,593 | 56,299 | 56,299 | |||||||||
Financial liabilities: | |||||||||||||
Annuities - investment contracts | $ | 39,469 | 44,960 | 36,392 | 38,679 | ||||||||
Policy_Liabilities_Tables
Policy Liabilities (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | ' | |||||||||
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block] | ' | |||||||||
For the Years Ended December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
(In thousands) | ||||||||||
Policy claims payable at January 1 | $ | 11,015 | 10,020 | 10,540 | ||||||
Less: reinsurance recoverable | 1,188 | 1,171 | 1,188 | |||||||
Net balance at January 1 | 9,827 | 8,849 | 9,352 | |||||||
Add claims incurred, related to: | ||||||||||
Current year | 24,575 | 26,094 | 24,996 | |||||||
Prior years | (417 | ) | (687 | ) | (1,565 | ) | ||||
24,158 | 25,407 | 23,431 | ||||||||
Deduct claims paid, related to: | ||||||||||
Current year | 17,443 | 18,302 | 18,004 | |||||||
Prior years | 7,740 | 6,127 | 5,930 | |||||||
25,183 | 24,429 | 23,934 | ||||||||
Net balance December 31 | 8,802 | 9,827 | 8,849 | |||||||
Plus: reinsurance recoverable | 686 | 1,188 | 1,171 | |||||||
Policy claims payable, December 31 | $ | 9,488 | 11,015 | 10,020 | ||||||
Reinsurance_Tables
Reinsurance (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items] | ' | |||||||||
Amount of reinsurance in force [Table Text Block] | ' | |||||||||
Assumed and ceded life reinsurance activity as of December 31, 2013 and 2012 is summarized as follows: | ||||||||||
At December 31, | ||||||||||
2013 | 2012 | |||||||||
(In thousands) | ||||||||||
Aggregate assumed life insurance in force | $ | 352,013 | 801,261 | |||||||
Aggregate ceded life insurance in force | $ | (467,491 | ) | (466,898 | ) | |||||
Net life insurance in force | $ | 4,616,128 | 4,976,157 | |||||||
Reinsurance [Table Text Block] | ' | |||||||||
Premiums, claims and surrenders assumed and ceded for all lines of business for these years are summarized as follows: | ||||||||||
For the Years Ended December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
(In thousands) | ||||||||||
Premiums from short-duration contracts: | ||||||||||
Direct | $ | 7,129 | 7,274 | 7,227 | ||||||
Assumed | — | — | — | |||||||
Ceded | (1,107 | ) | (1,034 | ) | (1,128 | ) | ||||
Net premiums earned | 6,022 | 6,240 | 6,099 | |||||||
Premiums from long-duration contracts: | ||||||||||
Direct | 172,257 | 168,272 | 159,860 | |||||||
Assumed | 188 | 1,275 | 1,874 | |||||||
Ceded | (2,309 | ) | (5,914 | ) | (6,438 | ) | ||||
Net premiums earned | 170,136 | 163,633 | 155,296 | |||||||
Total premiums earned | $ | 176,158 | 169,873 | 161,395 | ||||||
Claims and surrenders assumed | $ | 232 | 1,313 | 1,865 | ||||||
Claims and surrenders ceded | $ | (424 | ) | (5,486 | ) | (3,204 | ) |
Stockholders_Equity_and_Restri1
Stockholders' Equity and Restrictions (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Stockholders' Equity Note [Abstract] | ' | |||||||||
Statutory Accounting Practices Disclosure | ' | |||||||||
The table below shows the combined total of all of our insurance subsidiaries' capital and surplus and net income (loss) for life insurance operations and property insurance operations, although these amounts are not all available as dividends to Citizens, Inc., because only CICA is directly owned by Citizens, Inc. All other subsidiaries are owned by CICA. | ||||||||||
For the Years Ended December 31, | ||||||||||
2013 | 2012 | |||||||||
Combined Statutory Stockholders' Equity | (In thousands) | |||||||||
Life insurance operations | $ | 114,528 | 109,055 | |||||||
Property insurance operations | 5,106 | 5,137 | ||||||||
Total statutory equity | $ | 119,634 | 114,192 | |||||||
For the Years Ended December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
Combined Statutory Net Income | (In thousands) | |||||||||
Life insurance operations | $ | 4,584 | 4,055 | 6,943 | ||||||
Property insurance operations | (41 | ) | 28 | 469 | ||||||
Total statutory net income | $ | 4,543 | 4,083 | 7,412 | ||||||
Commitments_and_Contingencies_
Commitments and Contingencies Lease Commitments (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | |||
Lease Commitments | ||||
(In thousands) | ||||
Less than 1 year | $ | 398 | ||
1 year to 3 years | 473 | |||
3 years to 5 years | 98 | |||
More than 5 years | — | |||
Total | $ | 969 | ||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Segment Reporting Information [Line Items] | ' | ||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | ||||||||||||
December 31, 2013 | |||||||||||||
Life | Home | Other | Consolidated | ||||||||||
Insurance | Service | Non-Insurance | |||||||||||
Enterprises | |||||||||||||
(In thousands) | |||||||||||||
Revenues: | |||||||||||||
Premiums | $ | 132,479 | 43,679 | — | 176,158 | ||||||||
Net investment income | 22,237 | 13,075 | 1,285 | 36,597 | |||||||||
Realized investment losses, net | (222 | ) | (19 | ) | (6 | ) | (247 | ) | |||||
Other income | 891 | 141 | 96 | 1,128 | |||||||||
Total revenue | 155,385 | 56,876 | 1,375 | 213,636 | |||||||||
Benefits and expenses: | |||||||||||||
Insurance benefits paid or provided: | |||||||||||||
Claims and surrenders | 42,908 | 21,519 | — | 64,427 | |||||||||
Increase in future policy benefit reserves | 71,100 | 3,120 | — | 74,220 | |||||||||
Policyholders' dividends | 9,400 | 70 | — | 9,470 | |||||||||
Total insurance benefits paid or provided | 123,408 | 24,709 | — | 148,117 | |||||||||
Commissions | 26,033 | 14,444 | — | 40,477 | |||||||||
Other general expenses | 11,326 | 12,739 | 2,525 | 26,590 | |||||||||
Capitalization of deferred policy acquisition costs | (23,830 | ) | (5,568 | ) | — | (29,398 | ) | ||||||
Amortization of deferred policy acquisition costs | 15,701 | 2,810 | — | 18,511 | |||||||||
Amortization of cost of customer relationships acquired | 693 | 1,715 | — | 2,408 | |||||||||
Total benefits and expenses | 153,331 | 50,849 | 2,525 | 206,705 | |||||||||
Income (loss) before income tax expense | $ | 2,054 | 6,027 | (1,150 | ) | 6,931 | |||||||
December 31, 2012 | |||||||||||||
Life | Home | Other | Consolidated | ||||||||||
Insurance | Service | Non-Insurance | |||||||||||
Enterprises | |||||||||||||
(In thousands) | |||||||||||||
Revenues: | |||||||||||||
Premiums | $ | 126,032 | 43,841 | — | 169,873 | ||||||||
Net investment income | 17,828 | 12,724 | 1,173 | 31,725 | |||||||||
Realized investment gains (losses), net | 512 | (343 | ) | 27 | 196 | ||||||||
Decrease in fair value of warrants | — | — | 451 | 451 | |||||||||
Other income | 319 | 80 | 115 | 514 | |||||||||
Total revenue | 144,691 | 56,302 | 1,766 | 202,759 | |||||||||
Benefits and expenses: | |||||||||||||
Insurance benefits paid or provided: | |||||||||||||
Claims and surrenders | 43,537 | 21,119 | — | 64,656 | |||||||||
Increase in future policy benefit reserves | 63,481 | 3,195 | — | 66,676 | |||||||||
Policyholders' dividends | 8,846 | 245 | — | 9,091 | |||||||||
Total insurance benefits paid or provided | 115,864 | 24,559 | — | 140,423 | |||||||||
Commissions | 24,895 | 14,503 | — | 39,398 | |||||||||
Other general expenses | 10,961 | 12,089 | 2,614 | 25,664 | |||||||||
Capitalization of deferred policy acquisition costs | (23,371 | ) | (5,703 | ) | — | (29,074 | ) | ||||||
Amortization of deferred policy acquisition costs | 15,077 | 2,768 | — | 17,845 | |||||||||
Amortization of cost of customer relationships acquired | 746 | 1,721 | — | 2,467 | |||||||||
Total benefits and expenses | 144,172 | 49,937 | 2,614 | 196,723 | |||||||||
Income (loss) before income tax expense | $ | 519 | 6,365 | (848 | ) | 6,036 | |||||||
31-Dec-11 | |||||||||||||
Life | Home | Other | Consolidated | ||||||||||
Insurance | Service | Non-Insurance | |||||||||||
Enterprises | |||||||||||||
(In thousands) | |||||||||||||
Revenues: | |||||||||||||
Premiums | $ | 118,205 | 43,190 | — | 161,395 | ||||||||
Net investment income | 16,401 | 12,861 | 837 | 30,099 | |||||||||
Realized investment gains (losses), net | 1,347 | (601 | ) | 19 | 765 | ||||||||
Decrease in fair value of warrants | — | — | 1,136 | 1,136 | |||||||||
Other income | 526 | 112 | 123 | 761 | |||||||||
Total revenue | 136,479 | 55,562 | 2,115 | 194,156 | |||||||||
Benefits and expenses: | |||||||||||||
Insurance benefits paid or provided: | |||||||||||||
Claims and surrenders | 40,525 | 19,531 | — | 60,056 | |||||||||
Increase in future policy benefit reserves | 54,310 | 3,954 | — | 58,264 | |||||||||
Policyholders' dividends | 8,004 | 68 | — | 8,072 | |||||||||
Total insurance benefits paid or provided | 102,839 | 23,553 | — | 126,392 | |||||||||
Commissions | 23,482 | 14,892 | — | 38,374 | |||||||||
Other general expenses | 11,418 | 12,186 | 2,436 | 26,040 | |||||||||
Capitalization of deferred policy acquisition costs | (21,675 | ) | (6,151 | ) | — | (27,826 | ) | ||||||
Amortization of deferred policy acquisition costs | 13,769 | 3,079 | — | 16,848 | |||||||||
Amortization of cost of customer relationships acquired | 921 | 2,077 | — | 2,998 | |||||||||
Total benefits and expenses | 130,754 | 49,636 | 2,436 | 182,826 | |||||||||
Income (loss) before income tax expense | $ | 5,725 | 5,926 | (321 | ) | 11,330 | |||||||
Assets [Table Text Block] | ' | ||||||||||||
The table below summarizes assets by segment. | |||||||||||||
For the Years Ended December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Assets: | |||||||||||||
Life Insurance | $ | 772,434 | 717,967 | ||||||||||
Home Service Insurance | 373,432 | 385,046 | |||||||||||
Other Non-Insurance Enterprises | 70,414 | 71,935 | |||||||||||
Total assets | $ | 1,216,280 | 1,174,948 | ||||||||||
Earned premium income by category [Table Text Block] | ' | ||||||||||||
Major categories of earned premiums are summarized as follows: | |||||||||||||
For the Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Premium income: | |||||||||||||
Ordinary life | $ | 169,667 | 162,070 | 153,118 | |||||||||
Group life | 16 | 1,100 | 1,660 | ||||||||||
Accident and health | 1,529 | 1,635 | 1,561 | ||||||||||
Property | 4,946 | 5,068 | 5,056 | ||||||||||
Total premium income | $ | 176,158 | 169,873 | 161,395 | |||||||||
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | ' | ||||||||||||
Geographic Information | |||||||||||||
The following table sets forth the Company's annual total of earned premiums from geographic area for the years indicated: | |||||||||||||
For the Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Area: | |||||||||||||
United States | $ | 52,678 | 67,332 | 51,126 | |||||||||
Venezuela | 28,317 | 25,035 | 21,150 | ||||||||||
Colombia | 24,724 | 23,010 | 21,765 | ||||||||||
Taiwan | 15,678 | 14,879 | 14,196 | ||||||||||
Ecuador | 14,962 | 14,064 | 13,481 | ||||||||||
Argentina | 9,339 | 9,502 | 9,353 | ||||||||||
Other foreign countries | 33,688 | 21,724 | 36,016 | ||||||||||
Net reinsurance | (3,228 | ) | (5,673 | ) | (5,692 | ) | |||||||
Total | $ | 176,158 | 169,873 | 161,395 | |||||||||
Income_Taxes_Income_Taxes_Tabl
Income Taxes Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Tax Valuation Allowance [Abstract] | ' | ||||||||||||
Summary of Valuation Allowance [Table Text Block] | ' | ||||||||||||
The table below summarizes the changes in the valuation allowance. | |||||||||||||
Deferred Tax | Other | Goodwill | Income Tax | ||||||||||
Liability | Comprehensive | Expense | |||||||||||
Income | (Benefit) | ||||||||||||
(In thousands) | |||||||||||||
Balance at December 31, 2010 | $ | — | (841 | ) | 1,058 | (217 | ) | ||||||
Release of valuation allowance in 2011 | — | 570 | — | (570 | ) | ||||||||
Balance at December 31, 2011 | — | (271 | ) | 1,058 | (787 | ) | |||||||
Release of valuation allowance in 2012 | — | 188 | — | (188 | ) | ||||||||
Balance at December 31, 2012 | — | (83 | ) | 1,058 | (975 | ) | |||||||
Release of valuation allowance in 2013 | — | 20 | — | (20 | ) | ||||||||
Balance at December 31, 2013 | $ | — | (63 | ) | 1,058 | (995 | ) | ||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||||||
A reconciliation of federal income tax expense computed by applying the federal income tax rate of 35% in 2013, 2012 and 2011 to income (loss) before federal income tax expense is as follows: | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Expected tax expense | $ | 2,426 | 2,113 | 3,966 | |||||||||
Release of valuation allowance previously held in other comprehensive income | (20 | ) | (188 | ) | (570 | ) | |||||||
Taxable intercompany stock sales | 143 | 182 | 405 | ||||||||||
Tax-exempt interest and dividends-received deduction | (397 | ) | (364 | ) | (251 | ) | |||||||
Change in fair value of options and warrants | — | (158 | ) | (398 | ) | ||||||||
Adjustment of prior year taxes | 60 | — | (280 | ) | |||||||||
Effect of graduated rates | (100 | ) | (100 | ) | — | ||||||||
Other | 26 | 22 | (24 | ) | |||||||||
Total income tax expense | $ | 2,138 | 1,507 | 2,848 | |||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | ||||||||||||
Income tax expense (benefit) consists of: | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Current | $ | 5,871 | 3,666 | 4,624 | |||||||||
Deferred | (3,733 | ) | (2,159 | ) | (1,776 | ) | |||||||
Total income tax expense | $ | 2,138 | 1,507 | 2,848 | |||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||||||
The components of deferred federal income taxes are as follows: | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Deferred tax assets: | |||||||||||||
Future policy benefit reserves | $ | 39,345 | 34,785 | ||||||||||
Net operating and capital loss carryforwards | 2,632 | 3,098 | |||||||||||
Due and accrued dividends and expenses | 1,318 | 1,324 | |||||||||||
Investments | 1,805 | 308 | |||||||||||
State income tax credits | 128 | 131 | |||||||||||
Other | 219 | 542 | |||||||||||
Total gross deferred tax assets | 45,447 | 40,188 | |||||||||||
Valuation allowance | — | — | |||||||||||
Total gross deferred tax assets net of valuation allowance | 45,447 | 40,188 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Deferred policy acquisition costs, cost of customer relationships acquired and intangible assets | (42,948 | ) | (40,844 | ) | |||||||||
Unrealized gains on investments available-for-sale | (3,741 | ) | (16,023 | ) | |||||||||
Other | (462 | ) | (622 | ) | |||||||||
Total gross deferred tax liabilities | (47,151 | ) | (57,489 | ) | |||||||||
Net deferred tax liability | $ | (1,704 | ) | (17,301 | ) | ||||||||
Change in deferred tax liability [Table Text Block] | ' | ||||||||||||
A summary of the changes in the components of deferred federal and state income taxes is as follows: | |||||||||||||
At December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Deferred federal and state income taxes: | |||||||||||||
Balance January 1, | $ | (17,301 | ) | (13,940 | ) | ||||||||
Deferred tax benefit (expense) | 3,713 | 1,971 | |||||||||||
Investments available-for-sale | 12,282 | (5,529 | ) | ||||||||||
Effects of unrealized gains on DAC, CCRA and reserves | (398 | ) | 197 | ||||||||||
Balance December 31, | $ | (1,704 | ) | (17,301 | ) | ||||||||
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | ' | ||||||||||||
A reconciliation of unrecognized tax benefits is as follows: | |||||||||||||
At December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Balance at January 1, | $ | — | — | ||||||||||
Additions based on tax positions related to the current year | 896 | — | |||||||||||
Additions for tax positions of prior years | 643 | — | |||||||||||
Reductions for tax positions related to the current year | — | — | |||||||||||
Reductions for tax positions of prior years | — | — | |||||||||||
Balance December 31, | $ | 1,539 | — | ||||||||||
Other_Comprehensive_Income_Los1
Other Comprehensive Income (Loss) (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Equity [Abstract] | ' | |||||||||
Schedule of Other Comprehensive Income (Loss) | ' | |||||||||
The changes in the components of other comprehensive income (loss) are reported net of the effects of income taxes of 35% in 2013, 2012 and 2011, as indicated below. | ||||||||||
Amount | Tax Effect | Amount | ||||||||
(In thousands) | ||||||||||
Year ended December 31, 2013 | ||||||||||
Unrealized gains (losses) on securities: | ||||||||||
Unrealized holding gains (losses) arising during the period | $ | (35,318 | ) | 12,361 | (22,957 | ) | ||||
Reclassification adjustment for (gains) losses included in net income | 227 | (79 | ) | 148 | ||||||
Effects on DAC and CCRA | 1,135 | (398 | ) | 737 | ||||||
Change in tax valuation allowance | — | (20 | ) | (20 | ) | |||||
Other comprehensive income (loss) | $ | (33,956 | ) | 11,864 | (22,092 | ) | ||||
Year ended December 31, 2012 | ||||||||||
Unrealized gains (losses) on securities: | ||||||||||
Unrealized holding gains (losses) arising during the period | $ | 15,694 | (5,493 | ) | 10,201 | |||||
Reclassification adjustment for (gains) losses included in net income | 105 | (36 | ) | 69 | ||||||
Effects on DAC and CCRA | (564 | ) | 197 | (367 | ) | |||||
Change in tax valuation allowance | — | (188 | ) | (188 | ) | |||||
Other comprehensive income | $ | 15,235 | (5,520 | ) | 9,715 | |||||
Year ended December 31, 2011 | ||||||||||
Unrealized gains (losses) on securities: | ||||||||||
Unrealized holding gains (losses) arising during the period | $ | 30,474 | (10,666 | ) | 19,808 | |||||
Reclassification adjustment for (gains) losses included in net income | (1,277 | ) | 447 | (830 | ) | |||||
Effects on DAC and CCRA | (885 | ) | 310 | (575 | ) | |||||
Change in tax valuation allowance | — | (570 | ) | (570 | ) | |||||
Other comprehensive income | $ | 28,312 | (10,479 | ) | 17,833 | |||||
Quarterly_Financial_Informatio1
Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Quarterly Financial Information (Unaudited) [Abstract] | ' | ||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | ||||||||||||
The following table contains selected unaudited financial data for each quarter. | |||||||||||||
Fourth | Third | Second | First | ||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||
(In thousands, except per share amounts) | |||||||||||||
2013 | |||||||||||||
Revenues | $ | 56,866 | 53,616 | 53,608 | 49,546 | ||||||||
Benefits and expenses | 55,456 | 50,998 | 51,813 | 48,438 | |||||||||
Federal income tax expense | 604 | 794 | 488 | 252 | |||||||||
Net income | 806 | 1,824 | 1,307 | 856 | |||||||||
Net income available to common shareholders | 806 | 1,824 | 1,307 | 856 | |||||||||
Basic earnings per share of Class A common stock | 0.02 | 0.03 | 0.03 | 0.02 | |||||||||
Basic earnings per share of Class B common stock | 0.01 | 0.02 | 0.01 | 0.01 | |||||||||
Diluted earnings per share of Class A common stock | 0.02 | 0.03 | 0.03 | 0.02 | |||||||||
Diluted earnings per share of Class B common stock | 0.01 | 0.02 | 0.01 | 0.01 | |||||||||
Fourth | Third | Second | First | ||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||
(In thousands, except per share amounts) | |||||||||||||
2012 | |||||||||||||
Revenues | $ | 54,070 | 52,182 | 49,602 | 46,905 | ||||||||
Benefits and expenses | 54,511 | 48,137 | 49,263 | 44,812 | |||||||||
Federal income tax expense | (144 | ) | 1,134 | (64 | ) | 581 | |||||||
Net income (loss) | (297 | ) | 2,911 | 403 | 1,512 | ||||||||
Net income available to common shareholders | (297 | ) | 2,911 | 403 | 1,512 | ||||||||
Basic earnings per share of Class A common stock | (0.01 | ) | 0.06 | 0.01 | 0.03 | ||||||||
Basic earnings per share of Class B common stock | — | 0.03 | — | 0.02 | |||||||||
Diluted earnings per share of Class A common stock | (0.01 | ) | 0.06 | 0.01 | 0.03 | ||||||||
Diluted earnings per share of Class B common stock | — | 0.03 | — | 0.02 | |||||||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies Financial Statements (Details) (USD $) | 12 Months Ended | 3 Months Ended | |||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2013 | Mar. 31, 2013 | |
Minimum [Member] | Maximum [Member] | Change in Accounting Method Accounted for as Change in Estimate [Member] | Change in Accounting Method Accounted for as Change in Estimate [Member] | SPLIC Acquisition Conversion Error Correction [Member] | Policyholder Payments Incorrectly Made in a Prior Year [Member] | ||||
Other Income [Member] | Other Income [Member] | ||||||||
Participating Policies Additional Income Allocated, Percent | 60.70% | 60.80% | ' | ' | ' | ' | ' | ' | ' |
Goodwill and Intangible Asset Impairment | $0 | $0 | $0 | ' | ' | ' | ' | ' | ' |
Statutory deposit with state insurance departments | 9,300,000 | 10,200,000 | ' | ' | ' | ' | ' | ' | ' |
Annuity Credit Rate Associated with Amortization Method of Present Value of Future Insurance Profits | ' | ' | ' | 3.00% | 5.50% | ' | ' | ' | ' |
Interest Accrual Rate Associated with Amortization Method of Present Value of Future Insurance Profits | ' | ' | ' | 4.00% | 8.25% | ' | ' | ' | ' |
Reduction in commissions payable | ' | 400,000 | ' | ' | ' | ' | ' | ' | ' |
Liability for Future Policy Benefits | ' | ' | ' | ' | ' | -200,000 | 200,000 | ' | ' |
Deferred acquisition costs | $146,691,000 | $135,569,000 | ' | ' | ' | $200,000 | ($100,000) | ' | ' |
Number of prior period corrections | 2 | ' | ' | ' | ' | ' | ' | ' | ' |
Immaterial Error Correction | ' | ' | ' | ' | ' | ' | ' | '0.2 | '0.3 |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies Deferred Acquisition Costs and Cost of Customer Relationships Acquired (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Deferred Policy Acquisition Costs and Cost of Customer Relationship Acquired [Abstract] | ' | ' | ' |
first year commissions, percentage of capitalized deferred acquisition costs | 91.00% | ' | ' |
New business expense, percentage of capitalized deferred acquisition costs | 9.00% | ' | ' |
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward] | ' | ' | ' |
Balance at beginning of period | $135,569 | $124,542 | $113,761 |
Capitalization of deferred policy acquisition costs | 29,398 | 29,074 | 27,826 |
Amortization of deferred policy acquisition costs | -18,511 | -17,845 | -16,848 |
Deferred Policy Acquisition Cost, Amortization Expense, Effect of Adjustments to Estimated Gross Profit | 235 | -202 | -197 |
Balance at end of period | $146,691 | $135,569 | $124,542 |
Number of years of available premiums | '30 years | ' | ' |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies Cost of Customer Relationships Acquired (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ' | ' |
Number of Years-Cost of Customer Relationship Acquired Amortization | '5 years | ' | ' | ' |
Number of years of available premiums | '30 years | ' | ' | ' |
2014 | $1,924 | ' | ' | ' |
2015 | 1,742 | ' | ' | ' |
2016 | 1,612 | ' | ' | ' |
2017 | 1,478 | ' | ' | ' |
2018 | 1,358 | ' | ' | ' |
Thereafter | 15,659 | ' | ' | ' |
Net | 23,773 | ' | ' | ' |
Effects of unrealized (gains) losses on CCRA | -399 | ' | ' | ' |
Total | 23,374 | 25,116 | 27,945 | 31,631 |
Intangibles Assets Arising from Insurance Contracts Acquired in Business Combination, Amortization Expense | -2,408 | -2,467 | -2,998 | ' |
Intangible Assets Arising from Insurance Contracts Acquired in Business Combination, Period Increase (Decrease) | $666 | ($362) | ($688) | ' |
Customer Relationships [Member] | Minimum [Member] | ' | ' | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ' | ' |
Fair Value Inputs, Discount Rate | 4.50% | ' | ' | ' |
Customer Relationships [Member] | Maximum [Member] | ' | ' | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ' | ' |
Fair Value Inputs, Discount Rate | 8.50% | ' | ' | ' |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies Goodwill and Other Intangible Assets (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Intangible Assets Arising from Insurance Contracts Acquired in Business Combination, Amortization Expense, Fiscal Year Maturity [Abstract] | ' | ' | ' |
Balance at January 1, 2011 | $17,160 | $17,160 | $17,160 |
Acquisition | 0 | 0 | 0 |
Adjustments | 0 | 0 | 0 |
Balance at December 31, 2011, 2012 and 2013 | 17,160 | 17,160 | 17,160 |
Goodwill and Intangible Asset Impairment | 0 | 0 | 0 |
Life Insurance Segment [Member] | ' | ' | ' |
Intangible Assets Arising from Insurance Contracts Acquired in Business Combination, Amortization Expense, Fiscal Year Maturity [Abstract] | ' | ' | ' |
Balance at December 31, 2011, 2012 and 2013 | 12,600 | ' | ' |
Home Service Insurance Segment [Member] | ' | ' | ' |
Intangible Assets Arising from Insurance Contracts Acquired in Business Combination, Amortization Expense, Fiscal Year Maturity [Abstract] | ' | ' | ' |
Balance at December 31, 2011, 2012 and 2013 | $4,500 | ' | ' |
Summary_of_Significant_Account6
Summary of Significant Accounting Policies Participating Policies (Details) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Weighted Average Discount Rates [Line Items] | ' | ' |
Participating Policies Additional Income Allocated, Percent | 60.70% | 60.80% |
Minimum [Member] | ' | ' |
Weighted Average Discount Rates [Line Items] | ' | ' |
Number of Years, Future Scaling Rate | 2 | ' |
Weighted Average Discount Rate, Percent | 3.00% | ' |
Minimum [Member] | Two Years [Domain] | ' | ' |
Weighted Average Discount Rates [Line Items] | ' | ' |
Weighted Average Discount Rate Percent, Future Scaling Rate | 3.70% | ' |
Maximum [Member] | ' | ' |
Weighted Average Discount Rates [Line Items] | ' | ' |
Number of Years, Future Scaling Rate | 15 | ' |
Weighted Average Discount Rate, Percent | 8.00% | ' |
Maximum [Member] | Fifteen Years and After [Member] | ' | ' |
Weighted Average Discount Rates [Line Items] | ' | ' |
Weighted Average Discount Rate Percent, Future Scaling Rate | 5.00% | ' |
Summary_of_Significant_Account7
Summary of Significant Accounting Policies Earnings Per Share (Details) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Jul. 12, 2011 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment Warrants Expiration Date | 12-Jul-11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | $806 | $1,824 | $1,307 | $856 | ($297) | $2,911 | $403 | $1,512 | $4,793 | $4,529 | $8,482 |
Weighted Average Number of Shares Outstanding, Basic | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,082,000 | 50,007,000 | 49,811,000 |
Net Income Allocated to Class A Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,745 | 4,483 | 8,397 |
Net Income Allocated to Class B Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | $48 | $46 | $85 |
Warrants Associated with Series A-1 Preferred Stock [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period Shares Warrants Exercised | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 255,216 |
Warrants Associated with Series A-1 Preferred Stock, Not exercised or Expired on July 12, 2011 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period Shares Warrants Exercised | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,487 |
Warrants Associated with Series A-2 Preferred Stock [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period Shares Warrants Exercised | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 113,057 | ' |
Common Class A [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Number of Shares Outstanding, Basic | ' | ' | ' | ' | ' | ' | ' | ' | ' | 49,080,000 | 49,005,000 | 48,809,000 |
Earnings Per Share, Basic and Diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.10 | $0.09 | $0.17 |
Common Class B [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Number of Shares Outstanding, Basic and Diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,002,000 | 1,002,000 | 1,002,000 |
Earnings Per Share, Basic and Diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.05 | $0.05 | $0.09 |
Warrant Noncash Provision [Member] | Warrants Associated with Series A-1 Preferred Stock [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period Shares Warrants Exercised | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,989 |
Warrant Noncash Provision [Member] | Warrants Associated with Series A-2 Preferred Stock [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period Shares Warrants Exercised | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,606 | ' |
Summary_of_Significant_Account8
Summary of Significant Accounting Policies Property and Equipment (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
Building Improvements [Member] | Land, Buildings and Improvements [Member] | Land, Buildings and Improvements [Member] | Office Equipment [Member] | Office Equipment [Member] | Computer Equipment [Member] | Computer Equipment [Member] | Automobiles and Aquamarina [Domain] | Automobiles and Aquamarina [Domain] | Air Transportation Equipment [Member] | Air Transportation Equipment [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | |||
Property, Plant and Equipment (Excluding Building Improvments) [Member] | Property, Plant and Equipment (Excluding Building Improvments) [Member] | ||||||||||||||||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Useful Life | ' | ' | '30 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | '3 years | '30 years | '10 years |
Property, Plant and Equipment, Gross | $20,056,000 | $19,722,000 | ' | $9,696,000 | $9,511,000 | $2,472,000 | $2,464,000 | $4,170,000 | $4,083,000 | $373,000 | $382,000 | $3,345,000 | $3,282,000 | ' | ' | ' | ' |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | -13,394,000 | -12,339,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Net | 6,662,000 | 7,383,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital Lease Obligations | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments_Debt_And_Equity_Se2
Investments Debt And Equity Securities (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Investments Including Short Term And Cash And Cash Equivalents [Abstract] | ' | ' | ' | ' |
Fixed maturity securities | $832,952 | $791,528 | ' | ' |
Fixed maturity securities percent | 83.90% | 82.70% | ' | ' |
Equity securities | 47,259 | 53,741 | ' | ' |
Equity securities percent | 4.80% | 5.60% | ' | ' |
Mortgage loans | 671 | 1,509 | ' | ' |
Mortgage loans percent | 0.10% | 0.20% | ' | ' |
Policy loans | 48,868 | 42,993 | ' | ' |
Policy loans percent | 4.80% | 4.50% | ' | ' |
Real estate and other long-term investments | 8,485 | 8,553 | ' | ' |
Real estate and other long-term investments percent | 0.90% | 0.90% | ' | ' |
Short-term investments | 0 | 2,340 | ' | ' |
Short-term investments percent | 0.00% | 0.20% | ' | ' |
Cash and cash equivalents | 54,593 | 56,299 | 33,255 | 49,723 |
Cash and cash equivalents percent | 5.50% | 5.90% | ' | ' |
Total cash, cash equivalents and investments | 992,828 | 956,963 | ' | ' |
Total cash, cash equivalents and investments percent | 100.00% | 100.00% | ' | ' |
Percent of high quality fixed maturity securities | 81.20% | ' | ' | ' |
Unrealized Gain (Loss) on Investments [Abstract] | ' | ' | ' | ' |
Available-for-sale Debt Securities, Amortized Cost Basis | 595,944 | 559,736 | ' | ' |
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis | 595,944 | 559,736 | ' | ' |
Available-for-sale Debt Securities, Gross Unrealized Gains, Total | 22,390 | 45,873 | ' | ' |
Available-for-sale Debt Securities, Gross Unrealized Losses, Total | 13,078 | 1,089 | ' | ' |
Available-for-sale Securities, Fair Value | 652,515 | 658,261 | ' | ' |
Available-for-sale Debt Securities, Total | 605,256 | 604,520 | ' | ' |
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount | 227,696 | 187,008 | ' | ' |
Held-to-maturity Securities, Unrecognized Holding Gain | 2,601 | 7,109 | ' | ' |
Held-to-maturity Securities, Unrecognized Holding Loss | 6,764 | 378 | ' | ' |
Held-to-maturity Securities, Debt Maturities, Fair Value | 223,533 | 193,739 | ' | ' |
Total Fixed maturity securities, Amortized Cost | 823,640 | ' | ' | ' |
Total Fixed Maturity Securities, Fair Value Disclosure | 828,789 | ' | ' | ' |
Available-for-sale equity securities, amortized cost basis | 45,883 | 52,744 | ' | ' |
Unrealized Continuous Losses on Investments [Abstract] | ' | ' | ' | ' |
Debt Securities In Continuous Loss Less Than 12 Months Fair Value | 341,533 | 127,739 | ' | ' |
Debt Securities Continuous Loss Position Less Than 12 Months Unrealized Losses | 16,737 | 1,131 | ' | ' |
Number of Debt Securities In Continuous Loss Less Than 12 Months | 366 | 119 | ' | ' |
Debt Securities In Continuous Loss Position 12 Months Or Longer, Fair Value | 32,938 | 5,151 | ' | ' |
Debt Securities In Continuous Loss Position 12 Months Or Longer, Unrealized Losses | 3,105 | 336 | ' | ' |
Number of Debt Securities In Continuous Loss Position 12 Months or Longer | 36 | 3 | ' | ' |
Debt Securities In Continuous Loss Position, Aggregate Fair Value | 374,471 | 132,890 | ' | ' |
Debt Securities In Continuous Loss Position, Aggregate Unrealized Losses | 19,842 | 1,467 | ' | ' |
Number of Debt Securities In Continuous Loss Position, Aggregate | 402 | 122 | ' | ' |
Schedule of Fixed Maturities [Abstract] | ' | ' | ' | ' |
Available-for-sale Securities, Debt Maturities, Due in One Year or Less, Amortized Cost Basis | 17,183 | ' | ' | ' |
Available-for-sale Securities, Debt Maturities, Due in One Year or Less, Fair Value | 17,414 | ' | ' | ' |
Available-for-sale Securities, Debt Maturities, Due After One Year Through Five Years, Amortized Cost Basis | 117,140 | ' | ' | ' |
Available-for-sale Securities, Debt Maturities, Due After One Year Through Five Years, Fair Value | 123,970 | ' | ' | ' |
Available-for-sale Securities, Debt Maturities, Due After Five Years Through Ten Years, Amortized Cost Basis | 94,156 | ' | ' | ' |
Available-for-sale Securities, Debt Maturities, Due After Five Years Through Ten Years, Fair Value | 96,647 | ' | ' | ' |
Available-for-sale Securities, Debt Maturities, Due After Ten Years, Amortized Cost Basis | 367,465 | ' | ' | ' |
Available-for-sale Securities, Debt Maturities, Due After Ten Years, Fair Value | 367,225 | ' | ' | ' |
Held-to-maturity Securities, Debt Maturities, Due in One Year or Less, Amortized Cost Basis | 8,912 | ' | ' | ' |
Held-to-maturity Securities, Debt Maturities, Due in One Year or Less, Fair Value | 8,992 | ' | ' | ' |
Held-to-maturity Securities, Debt Maturities, Due After One Year Through Five Years, Amortized Cost Basis | 37,750 | ' | ' | ' |
Held-to-maturity Securities, Debt Maturities, Due After One Year Through Five Years, Fair Value | 38,170 | ' | ' | ' |
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Amortized Cost Basis | 43,384 | ' | ' | ' |
Held-to-maturity Securities, Debt Maturities, Due After Five Years Through Ten Years, Fair Value | 43,888 | ' | ' | ' |
Held-to-maturity Securities, Debt Maturities, Due After Ten Years, Amortized Cost Basis | 137,650 | ' | ' | ' |
Held-to-maturity Securities, Debt Maturities, Due After Ten Years, Fair Value | 132,483 | ' | ' | ' |
Held-to-maturity Securities, Fair Value | 223,533 | 193,739 | ' | ' |
Number of investments exceeding stocksholder's equity | 0 | ' | ' | ' |
Number of Non-Income Producing Fixed Maturity Securities | 0 | ' | ' | ' |
US Treasury Securities [Member] | ' | ' | ' | ' |
Unrealized Gain (Loss) on Investments [Abstract] | ' | ' | ' | ' |
Available-for-sale Debt Securities, Amortized Cost Basis | 10,115 | 10,170 | ' | ' |
Available-for-sale Securities, Gross Unrealized Gains | 2,348 | 3,773 | ' | ' |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 0 | ' | ' |
Available-for-sale Securities, Fair Value | 12,463 | 13,943 | ' | ' |
US Government Agencies Debt Securities [Member] | ' | ' | ' | ' |
Unrealized Gain (Loss) on Investments [Abstract] | ' | ' | ' | ' |
Available-for-sale Debt Securities, Amortized Cost Basis | 53,587 | 81,788 | ' | ' |
Available-for-sale Securities, Gross Unrealized Gains | 1,209 | 3,815 | ' | ' |
Available-for-sale Securities, Gross Unrealized Losses | 228 | 22 | ' | ' |
Available-for-sale Securities, Fair Value | 54,568 | 85,581 | ' | ' |
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount | 8,877 | 28,632 | ' | ' |
Held-to-maturity Securities, Unrecognized Holding Gain | 197 | 514 | ' | ' |
Held-to-maturity Securities, Unrecognized Holding Loss | 3 | 0 | ' | ' |
Held-to-maturity Securities, Debt Maturities, Fair Value | 9,071 | 29,146 | ' | ' |
Unrealized Continuous Losses on Investments [Abstract] | ' | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 14,032 | 10,603 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 228 | 22 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 12 | 9 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 0 | 0 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 0 | 0 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 0 | 0 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 14,032 | 10,603 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | 228 | 22 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 12 | 9 | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 2,997 | ' | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 3 | ' | ' | ' |
Number of Held-to-maturity Securities In Continuous Loss Position Less Than 12 Months | 1 | ' | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | ' | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 0 | ' | ' | ' |
Number of Held-to-maturity Securities In Continuous Loss Position 12 Months or Greater | 0 | ' | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 2,997 | ' | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | 3 | ' | ' | ' |
Number of Held-to-maturity Securities In Continuous Loss Position Aggregate | 1 | ' | ' | ' |
Schedule of Fixed Maturities [Abstract] | ' | ' | ' | ' |
Held-to-maturity Securities, Fair Value | 9,071 | 29,146 | ' | ' |
US States and Political Subdivisions Debt Securities [Member] | ' | ' | ' | ' |
Unrealized Gain (Loss) on Investments [Abstract] | ' | ' | ' | ' |
Available-for-sale Debt Securities, Amortized Cost Basis | 341,673 | 265,812 | ' | ' |
Available-for-sale Securities, Gross Unrealized Gains | 6,242 | 17,227 | ' | ' |
Available-for-sale Securities, Gross Unrealized Losses | 11,449 | 777 | ' | ' |
Available-for-sale Securities, Fair Value | 336,466 | 282,262 | ' | ' |
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount | 181,246 | 125,634 | ' | ' |
Held-to-maturity Securities, Unrecognized Holding Gain | 1,633 | 5,435 | ' | ' |
Held-to-maturity Securities, Unrecognized Holding Loss | 6,412 | 378 | ' | ' |
Held-to-maturity Securities, Debt Maturities, Fair Value | 176,467 | 130,691 | ' | ' |
Unrealized Continuous Losses on Investments [Abstract] | ' | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 183,280 | 54,115 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 9,872 | 443 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 203 | 61 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 15,673 | 5,099 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 1,577 | 334 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 16 | 2 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 198,953 | 59,214 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | 11,449 | 777 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 219 | 63 | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 100,153 | 40,611 | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 5,236 | 378 | ' | ' |
Number of Held-to-maturity Securities In Continuous Loss Position Less Than 12 Months | 118 | 32 | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 14,797 | 0 | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 1,176 | 0 | ' | ' |
Number of Held-to-maturity Securities In Continuous Loss Position 12 Months or Greater | 17 | 0 | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 114,950 | 40,611 | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | 6,412 | 378 | ' | ' |
Number of Held-to-maturity Securities In Continuous Loss Position Aggregate | 135 | 32 | ' | ' |
Schedule of Fixed Maturities [Abstract] | ' | ' | ' | ' |
Held-to-maturity Securities, Fair Value | 176,467 | 130,691 | ' | ' |
Foreign Government Debt Securities [Member] | ' | ' | ' | ' |
Unrealized Gain (Loss) on Investments [Abstract] | ' | ' | ' | ' |
Available-for-sale Debt Securities, Amortized Cost Basis | 104 | 105 | ' | ' |
Available-for-sale Securities, Gross Unrealized Gains | 23 | 36 | ' | ' |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 0 | ' | ' |
Available-for-sale Securities, Fair Value | 127 | 141 | ' | ' |
Corporate Debt Securities [Member] | ' | ' | ' | ' |
Unrealized Gain (Loss) on Investments [Abstract] | ' | ' | ' | ' |
Available-for-sale Debt Securities, Amortized Cost Basis | 186,671 | 195,755 | ' | ' |
Available-for-sale Securities, Gross Unrealized Gains | 12,289 | 20,536 | ' | ' |
Available-for-sale Securities, Gross Unrealized Losses | 1,399 | 286 | ' | ' |
Available-for-sale Securities, Fair Value | 197,561 | 216,005 | ' | ' |
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount | 37,573 | 32,742 | ' | ' |
Held-to-maturity Securities, Unrecognized Holding Gain | 771 | 1,160 | ' | ' |
Held-to-maturity Securities, Unrecognized Holding Loss | 349 | 0 | ' | ' |
Held-to-maturity Securities, Debt Maturities, Fair Value | 37,995 | 33,902 | ' | ' |
Unrealized Continuous Losses on Investments [Abstract] | ' | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 35,789 | 22,316 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 1,048 | 286 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 25 | 16 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 2,426 | 0 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 351 | 0 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 2 | 0 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 38,215 | 22,316 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | 1,399 | 286 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 27 | 16 | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 5,225 | ' | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 349 | ' | ' | ' |
Number of Held-to-maturity Securities In Continuous Loss Position Less Than 12 Months | 4 | ' | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | ' | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 0 | ' | ' | ' |
Number of Held-to-maturity Securities In Continuous Loss Position 12 Months or Greater | 0 | ' | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 5,225 | ' | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | 349 | ' | ' | ' |
Number of Held-to-maturity Securities In Continuous Loss Position Aggregate | 4 | ' | ' | ' |
Schedule of Fixed Maturities [Abstract] | ' | ' | ' | ' |
Held-to-maturity Securities, Fair Value | 37,995 | 33,902 | ' | ' |
Residential Mortgage Backed Securities [Member] | ' | ' | ' | ' |
Unrealized Gain (Loss) on Investments [Abstract] | ' | ' | ' | ' |
Available-for-sale Debt Securities, Amortized Cost Basis | 3,494 | 5,625 | ' | ' |
Available-for-sale Securities, Gross Unrealized Gains | 270 | 469 | ' | ' |
Available-for-sale Securities, Gross Unrealized Losses | 2 | 2 | ' | ' |
Available-for-sale Securities, Fair Value | 3,762 | 6,092 | ' | ' |
Unrealized Continuous Losses on Investments [Abstract] | ' | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 57 | 0 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 1 | 0 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 3 | 0 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 42 | 52 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 1 | 2 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 1 | 1 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 99 | 52 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | 2 | 2 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 4 | 1 | ' | ' |
Commercial Mortgage Backed Securities [Member] | ' | ' | ' | ' |
Unrealized Gain (Loss) on Investments [Abstract] | ' | ' | ' | ' |
Available-for-sale Debt Securities, Amortized Cost Basis | 300 | 481 | ' | ' |
Available-for-sale Securities, Gross Unrealized Gains | 9 | 17 | ' | ' |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 2 | ' | ' |
Available-for-sale Securities, Fair Value | 309 | 496 | ' | ' |
Unrealized Continuous Losses on Investments [Abstract] | ' | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | ' | 94 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | ' | 2 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | ' | 1 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | ' | 0 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | ' | 0 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | ' | 0 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | ' | 94 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | ' | 2 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | ' | 1 | ' | ' |
Debt Securities [Member] | ' | ' | ' | ' |
Unrealized Gain (Loss) on Investments [Abstract] | ' | ' | ' | ' |
Total Fixed maturity securities, Amortized Cost | 823,640 | 746,744 | ' | ' |
Total Fixed Maturity Securities, Gross Unrealized Gains | 24,991 | 52,982 | ' | ' |
Total Fixed Maturity Securities, Gross Unrealized Losses | 19,842 | 1,467 | ' | ' |
Total Fixed Maturity Securities, Fair Value Disclosure | 828,789 | 798,259 | ' | ' |
Unrealized Continuous Losses on Investments [Abstract] | ' | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 233,158 | 87,128 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 11,149 | 753 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 243 | 87 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 18,141 | 5,151 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 1,929 | 336 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 19 | 3 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 251,299 | 92,279 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | 13,078 | 1,089 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 262 | 90 | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 108,375 | 40,611 | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 5,588 | 378 | ' | ' |
Number of Held-to-maturity Securities In Continuous Loss Position Less Than 12 Months | 123 | 32 | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 14,797 | 0 | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 1,176 | 0 | ' | ' |
Number of Held-to-maturity Securities In Continuous Loss Position 12 Months or Greater | 17 | 0 | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 123,172 | 40,611 | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | 6,764 | 378 | ' | ' |
Number of Held-to-maturity Securities In Continuous Loss Position Aggregate | 140 | 32 | ' | ' |
Stock Mutual Funds [Member] | ' | ' | ' | ' |
Unrealized Gain (Loss) on Investments [Abstract] | ' | ' | ' | ' |
Available-for-sale Securities, Gross Unrealized Gains | 1,506 | 250 | ' | ' |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 28 | ' | ' |
Available-for-sale Securities, Fair Value | 11,969 | 10,685 | ' | ' |
Available-for-sale equity securities, amortized cost basis | 10,463 | 10,463 | ' | ' |
Unrealized Continuous Losses on Investments [Abstract] | ' | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | ' | 0 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | ' | 0 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | ' | 0 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | ' | 972 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | ' | 28 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | ' | 1 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | ' | 972 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | ' | 28 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | ' | 1 | ' | ' |
Bond Mutual Funds [Member] | ' | ' | ' | ' |
Unrealized Gain (Loss) on Investments [Abstract] | ' | ' | ' | ' |
Available-for-sale Securities, Gross Unrealized Gains | 0 | 541 | ' | ' |
Available-for-sale Securities, Gross Unrealized Losses | 417 | 129 | ' | ' |
Available-for-sale Securities, Fair Value | 34,663 | 41,916 | ' | ' |
Available-for-sale equity securities, amortized cost basis | 35,080 | 41,504 | ' | ' |
Unrealized Continuous Losses on Investments [Abstract] | ' | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 34,663 | 3,335 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 417 | 88 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 7 | 1 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 0 | 2,959 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 0 | 41 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 0 | 2 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 34,663 | 6,294 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | 417 | 129 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 7 | 3 | ' | ' |
Common Stock [Member] | ' | ' | ' | ' |
Unrealized Gain (Loss) on Investments [Abstract] | ' | ' | ' | ' |
Available-for-sale Securities, Gross Unrealized Gains | 0 | 0 | ' | ' |
Available-for-sale Securities, Gross Unrealized Losses | 5 | 2 | ' | ' |
Available-for-sale Securities, Fair Value | 12 | 15 | ' | ' |
Available-for-sale equity securities, amortized cost basis | 17 | 17 | ' | ' |
Unrealized Continuous Losses on Investments [Abstract] | ' | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 12 | 15 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 5 | 2 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 1 | 1 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 0 | 0 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 0 | 0 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 0 | 0 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 12 | 15 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | 5 | 2 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 1 | 1 | ' | ' |
Preferred Stock [Member] | ' | ' | ' | ' |
Unrealized Gain (Loss) on Investments [Abstract] | ' | ' | ' | ' |
Available-for-sale Securities, Gross Unrealized Gains | 292 | 365 | ' | ' |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 0 | ' | ' |
Available-for-sale Securities, Fair Value | 615 | 1,125 | ' | ' |
Available-for-sale equity securities, amortized cost basis | 323 | 760 | ' | ' |
Equity Securities [Member] | ' | ' | ' | ' |
Unrealized Gain (Loss) on Investments [Abstract] | ' | ' | ' | ' |
Available-for-sale Securities, Gross Unrealized Gains | 1,798 | 1,156 | ' | ' |
Available-for-sale Securities, Gross Unrealized Losses | 422 | 159 | ' | ' |
Available-for-sale Securities, Fair Value | 47,259 | 53,741 | ' | ' |
Available-for-sale equity securities, amortized cost basis | 45,883 | 52,744 | ' | ' |
Unrealized Continuous Losses on Investments [Abstract] | ' | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 34,675 | 3,350 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 422 | 90 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 8 | 2 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 0 | 3,931 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 0 | 69 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 0 | 3 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 34,675 | 7,281 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | $422 | $159 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 8 | 5 | ' | ' |
Investments_Net_Investment_Inc
Investments Net Investment Income (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net Investment Income [Line Items] | ' | ' | ' |
Net Investment Income, Insurance Entity, Fixed Maturities | $36,597 | $31,725 | $30,099 |
Total Investment Income | 38,441 | 33,397 | 31,610 |
Investment Income, Investment Expense | -1,844 | -1,672 | -1,511 |
Debt Securities [Member] | ' | ' | ' |
Net Investment Income [Line Items] | ' | ' | ' |
Net Investment Income, Insurance Entity, Fixed Maturities | 32,604 | 27,470 | 26,606 |
Equity Securities [Member] | ' | ' | ' |
Net Investment Income [Line Items] | ' | ' | ' |
Net Investment Income, Insurance Entity, Fixed Maturities | 1,839 | 2,158 | 1,534 |
Mortgage Loans on Real Estate [Member] | ' | ' | ' |
Net Investment Income [Line Items] | ' | ' | ' |
Net Investment Income, Insurance Entity, Fixed Maturities | 68 | 104 | 99 |
Policy Loans [Member] | ' | ' | ' |
Net Investment Income [Line Items] | ' | ' | ' |
Net Investment Income, Insurance Entity, Fixed Maturities | 3,637 | 3,332 | 3,024 |
Other Long-term Investments [Member] | ' | ' | ' |
Net Investment Income [Line Items] | ' | ' | ' |
Net Investment Income, Insurance Entity, Fixed Maturities | 229 | 234 | 225 |
Other Debt Obligations [Member] | ' | ' | ' |
Net Investment Income [Line Items] | ' | ' | ' |
Net Investment Income, Insurance Entity, Fixed Maturities | $64 | $99 | $122 |
Investments_Realized_Gain_Loss
Investments Realized Gain (Loss) on Investments (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Gain (Loss) on Investments [Line Items] | ' | ' | ' |
Realized gains and losses on securities previously impaired | ($400,000) | $600,000 | $1,300,000 |
Proceeds from Sale of Available-for-sale Securities, Fixed Maturities | 316,000 | 576,000 | 0 |
Proceeds from Sale of Available-for-sale Securities, Equity | 5,996,000 | 2,855,000 | 7,504,000 |
Gain (Loss) on Sale, Calls and Maturities of Fixed Maturities | 199,000 | 824,000 | 119,000 |
Gain (Loss) on Sale of Equity Securities | -436,000 | 636,000 | 1,259,000 |
Gain (Loss) on Sale of Property and Equipment | 0 | 0 | 2,000 |
Gain (Loss) on Sale of Other Long-Term Investments | -10,000 | 55,000 | 16,000 |
Gain (Loss) on Investments, Excluding Other than Temporary Impairments | -247,000 | 1,515,000 | 1,396,000 |
Other-than-temporary Impairment Losses on Fixed Maturities | 0 | -1,319,000 | -70,000 |
Other-than-temporary Impairment Losses on Other Long-Term Investments | 0 | 0 | -561,000 |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | 0 | -1,319,000 | -631,000 |
Realized investment gains, net | -247,000 | 196,000 | 765,000 |
Available-for-sale Securities [Member] | ' | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' | ' |
Number of Debt Securities Sold | 2 | ' | ' |
Debt Securities [Member] | ' | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' | ' |
Available-for-sale Securities, Gross Realized Gains | 7,000 | 54,000 | 0 |
Available-for-sale Securities, Gross Realized Losses | 1,000 | 3,000 | 0 |
Equity Securities [Member] | ' | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' | ' |
Available-for-sale Securities, Gross Realized Gains | 0 | 632,000 | 1,259,000 |
Available-for-sale Securities, Gross Realized Losses | 428,000 | 0 | 0 |
Equity Funds [Member] | ' | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' | ' |
Number of Equity Securities Sold | 2 | ' | ' |
Held-to-maturity Securities [Member] | ' | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' | ' |
Number of Debt Securities Sold | 0 | 0 | 0 |
Gain (Loss) on Investments, Excluding Other than Temporary Impairments | $199,000 | ' | ' |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Number of Private Placement Securities categorized under Level 3 investments | 2 | ' |
Available-for-sale Securities, Fair Value Disclosure | $652,515,000 | $658,261,000 |
Percent of Level 2 Debt Maturity to Total Reported Fair Value of Financial Assets | 90.80% | ' |
Number of Material Changes to Investment Valuation Method or Assumptions | 0 | ' |
Number of Third Party Pricing Changes | 0 | ' |
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount | 0 | 0 |
Mortgage Loans Interest Rate Used to Estimate Fair Value | 6.25% | 6.25% |
Insurance Policy Loans Interest Rate | 7.70% | 7.70% |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 59,722,000 | 67,684,000 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 592,484,000 | 590,190,000 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 309,000 | 387,000 |
US Treasury and Government [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 67,031,000 | 99,524,000 |
US Treasury and Government [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 12,463,000 | 13,943,000 |
US Treasury and Government [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 54,568,000 | 85,581,000 |
US Treasury and Government [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 |
US States and Political Subdivisions Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 336,466,000 | 282,262,000 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 336,466,000 | 282,262,000 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 |
Corporate Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 197,561,000 | 216,005,000 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 197,561,000 | 216,005,000 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 |
Commercial Mortgage Backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 309,000 | 496,000 |
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 |
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 0 | 109,000 |
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 309,000 | 387,000 |
Residential Mortgage Backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 3,762,000 | 6,092,000 |
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 |
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 3,762,000 | 6,092,000 |
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 |
Foreign Government Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 127,000 | 141,000 |
Foreign Government Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 |
Foreign Government Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 127,000 | 141,000 |
Foreign Government Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 |
Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 605,256,000 | 604,520,000 |
Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 12,463,000 | 13,943,000 |
Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 592,484,000 | 590,190,000 |
Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 309,000 | 387,000 |
Stock Mutual Funds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 11,969,000 | 10,685,000 |
Stock Mutual Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 11,969,000 | 10,685,000 |
Stock Mutual Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 |
Stock Mutual Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 |
Bond Mutual Funds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 34,663,000 | 41,916,000 |
Bond Mutual Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 34,663,000 | 41,916,000 |
Bond Mutual Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 |
Bond Mutual Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 |
Common Stock [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 12,000 | 15,000 |
Common Stock [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 12,000 | 15,000 |
Common Stock [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 |
Common Stock [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 |
Preferred Stock [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 615,000 | 1,125,000 |
Preferred Stock [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 615,000 | 1,125,000 |
Preferred Stock [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 |
Preferred Stock [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 |
Equity Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 47,259,000 | 53,741,000 |
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 47,259,000 | 53,741,000 |
Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 |
Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | $0 | $0 |
Fair_Value_Measurements_Schedu
Fair Value Measurements Schedule of Fair Value Unobservable Input Reconciliation (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract] | ' | ' |
Balance at beginning of period | $387 | $459 |
Included in net income | 0 | 0 |
Included in other comprehensive income | -7 | -6 |
Principal paydowns | -71 | -66 |
Transfers in and (out) of Level 3 | 0 | 0 |
Balance at end of period | $309 | $387 |
Fair_Value_Measurements_Financ
Fair Value Measurements Financial Instruments not Carried at Fair Value (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' |
Fixed maturities held-to-maturity, fair value | $223,533 | $193,739 | ' | ' |
Mortgage loans | 671 | 1,509 | ' | ' |
Policy loans | 48,868 | 42,993 | ' | ' |
Short-term investments | 0 | 2,340 | ' | ' |
Cash and cash equivalents, at carrying value | 54,593 | 56,299 | 33,255 | 49,723 |
Liability for future policy benefits individual and group annuities | 55,485 | 51,750 | ' | ' |
Mortgage loans on real estate, interest rate | 6.40% | 6.60% | ' | ' |
Mortgage loan maturity lower end range | '2 years | ' | ' | ' |
Mortgage loan maturity higher end range | '29 years | ' | ' | ' |
Mortgage loans interest rate used to estimate fair value | 6.25% | 6.25% | ' | ' |
Insurance policy loans interest rate | 7.70% | 7.70% | ' | ' |
Fair value minimum interest rate of investment contract | 0.10% | ' | ' | ' |
Fair value maximum rate of investment contract | 3.80% | ' | ' | ' |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' |
Fixed maturities held-to-maturity, fair value | 227,696 | 187,008 | ' | ' |
Mortgage loans | 671 | 1,509 | ' | ' |
Policy loans | 48,868 | 42,993 | ' | ' |
Short-term investments | 0 | 2,340 | ' | ' |
Cash and cash equivalents, at carrying value | 54,593 | 56,299 | ' | ' |
Liability for future policy benefits individual and group annuities | 39,469 | 36,392 | ' | ' |
Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' |
Fixed maturities held-to-maturity, fair value | 223,533 | 193,739 | ' | ' |
Mortgage loans | 695 | 1,503 | ' | ' |
Policy loans | 48,868 | 42,993 | ' | ' |
Short-term investments | 0 | 2,340 | ' | ' |
Cash and cash equivalents, fair value disclosure | 54,593 | 56,299 | ' | ' |
Liability for future policy benefits individual and group annuities | $44,960 | $38,679 | ' | ' |
Policy_Liabilities_Details
Policy Liabilities (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | ' | ' | ' |
Policy claims payable at January 1 | $11,015,000 | $10,020,000 | $10,540,000 |
Reinsurance recoverable | 1,188,000 | 1,171,000 | 1,188,000 |
Net balance policy claims payable at January 1 | 9,827,000 | 8,849,000 | 9,352,000 |
Claims incurred related to current year | 24,575,000 | 26,094,000 | 24,996,000 |
Claims incurred related to prior years | -417,000 | -687,000 | -1,565,000 |
Total claims incurred | 24,158,000 | 25,407,000 | 23,431,000 |
Claims paid related to current year | 17,443,000 | 18,302,000 | 18,004,000 |
Claims paid related to prior years | 7,740,000 | 6,127,000 | 5,930,000 |
Total claims paid | 25,183,000 | 24,429,000 | 23,934,000 |
Policy claims payable at December 31 | 9,488,000 | 11,015,000 | 10,020,000 |
Reinsurance recoverable | -686,000 | -1,188,000 | -1,171,000 |
Net balance policy claims payable at December 31 | 8,802,000 | 9,827,000 | 8,849,000 |
Minimum [Member] | ' | ' | ' |
Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | ' | ' | ' |
Liability for Future Policy Benefit by Product Segment, Interest Rate, Year of Issue | 4.00% | ' | ' |
Maximum [Member] | ' | ' | ' |
Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | ' | ' | ' |
Liability for Future Policy Benefit by Product Segment, Interest Rate, Year of Issue | 9.00% | ' | ' |
CICA Life Insurance Company of America [Member] | ' | ' | ' |
Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | ' | ' | ' |
Favorable development related to subsidiary | 400,000 | ' | ' |
SPLIC subsidiary of CICA [Domain] | ' | ' | ' |
Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | ' | ' | ' |
Favorable development related to subsidiary | ' | $700,000 | $1,600,000 |
Reinsurance_Details
Reinsurance (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items] | ' | ' | ' |
Maximum Retention of Life Insurance Face Amount | $100,000 | ' | ' |
Reinsurance Retention Policy, Reinsured Risk, Percentage | 100.00% | ' | ' |
Maximum Amount of Casualty Reinsurance for First Catastrophe | 10,000,000 | ' | ' |
Contracts in Force Subject to Participation through Reinsurance, Ratio | 0.10% | 0.80% | 1.20% |
Maximum Amount of Casualty Reinsurance for Second Catastrophy | 10,000,000 | ' | ' |
Reinsurance Deductible for First Catastrophe | 500,000 | ' | ' |
Reinsurance Deductible for Second Catastrophy | 500,000 | ' | ' |
Percentage Amount of Coinsurance for Accident and Health Insurance Reinsurance | 100.00% | ' | ' |
Reinsurance Recoverable on Claims Payable and Future Policy Benefit Reserves for a specific reinsurer | 2,600,000 | ' | ' |
Reinsurance Recoverable on Claims Payable and Future Policy Benefit Reserves | 4,394,000 | 9,651,000 | ' |
Assumed Premiums, Life Insurance in Force | 352,013,000 | 801,261,000 | 1,147,222,000 |
Aggregate ceded life insurance in force | -467,491,000 | -466,898,000 | ' |
Premiums, Net, Life Insurance in Force | 4,616,128,000 | 4,976,157,000 | 5,244,200,000 |
Direct Premiums Earned | 179,386,000 | 175,546,000 | 167,087,000 |
Assumed Premiums Earned | 188,000 | 1,275,000 | 1,874,000 |
Ceded Premiums Earned | 3,416,000 | 6,948,000 | 7,566,000 |
Net reinsurance premiums earned | 169,683,000 | 163,170,000 | 154,778,000 |
Premiums Earned, Net | 176,158,000 | 169,873,000 | 161,395,000 |
Claims and surrenders assumed | 232,000 | 1,313,000 | 1,865,000 |
Claims and surrenders ceded | -424,000 | -5,486,000 | -3,204,000 |
Payments for Reinsurance | 1,100,000 | 1,000,000 | 1,100,000 |
Premiums from short-duration contracts | ' | ' | ' |
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items] | ' | ' | ' |
Direct Premiums Earned | 7,129,000 | 7,274,000 | 7,227,000 |
Assumed Premiums Earned | 0 | 0 | 0 |
Ceded Premiums Earned | 1,107,000 | 1,034,000 | 1,128,000 |
Net reinsurance premiums earned | 6,022,000 | 6,240,000 | 6,099,000 |
Premiums from long-duration contracts | ' | ' | ' |
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items] | ' | ' | ' |
Direct Premiums Earned | 172,257,000 | 168,272,000 | 159,860,000 |
Assumed Premiums Earned | 188,000 | 1,275,000 | 1,874,000 |
Ceded Premiums Earned | 2,309,000 | 5,914,000 | 6,438,000 |
Net reinsurance premiums earned | $170,136,000 | $163,633,000 | $155,296,000 |
Stockholders_Equity_and_Restri2
Stockholders' Equity and Restrictions (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Statutory Accounting Practices [Line Items] | ' | ' | ' |
Number of Classes of Common Stock | 2 | ' | ' |
Combined Statutory Stockholders' Equity | $119,634,000 | $114,192,000 | ' |
Combined Statutory Net Income | 4,543,000 | 4,083,000 | 7,412,000 |
Statutory Amount Available for Dividend Payments, Percentage of Net Surplus | 10.00% | ' | ' |
Statutory Amount Available for Dividend Payments without Regulatory Approval | 5,500,000 | ' | ' |
Life insurance operations [Member] | ' | ' | ' |
Statutory Accounting Practices [Line Items] | ' | ' | ' |
Combined Statutory Stockholders' Equity | 114,528,000 | 109,055,000 | ' |
Combined Statutory Net Income | 4,584,000 | 4,055,000 | 6,943,000 |
Property insurance operations [Member] | ' | ' | ' |
Statutory Accounting Practices [Line Items] | ' | ' | ' |
Combined Statutory Stockholders' Equity | 5,106,000 | 5,137,000 | ' |
Combined Statutory Net Income | -41,000 | 28,000 | 469,000 |
CICA Life Insurance Company of America [Member] | ' | ' | ' |
Statutory Accounting Practices [Line Items] | ' | ' | ' |
Combined Statutory Stockholders' Equity | 54,767,000 | ' | ' |
Combined Statutory Net Income | $3,200,000 | ' | ' |
Convertible_Preferred_Stock_Wa1
Convertible Preferred Stock Warrants (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jul. 12, 2004 | |
investors | ||||
Convertible Preferred Stock: Warrants [Abstract] | ' | ' | ' | ' |
Preferred Stock Investors | ' | ' | ' | 4 |
Warrant Strike Price | ' | ' | ' | $6.95 |
Warrants outstanding | $0 | ' | ' | ' |
Increase Decrease In Fair Value Of Common Stock Warrants | $0 | $451,000 | $1,136,000 | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | 0 Months Ended | ||
Jul. 18, 2013 | Dec. 09, 2009 | Aug. 06, 1999 | |
Legal Proceedings [Abstract] | ' | ' | ' |
Date of Lawsuit Filed | ' | ' | 6-Aug-99 |
Number of Non U.S. Trusts | ' | ' | 2 |
Date of Trial Court Ruling | ' | 9-Dec-09 | ' |
Loss Contingency, Settlement Agreement, Date | 'July 18, 2013 | ' | ' |
Loss Contingency, Damages Awarded, Value | $183,000 | ' | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies Lease Commitments (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Commitments and Contingencies Disclosure [Abstract] | ' | ' | ' |
Operating Leases, Future Minimum Payments Due, Less than 1 year | $398,000 | ' | ' |
Operating Leases, Future Minimum Payments, 1 year to 3 years | 473,000 | ' | ' |
Operating Leases, Future Minimum Payments, 3 years to 5 years | 98,000 | ' | ' |
Operating Leases, Future Minimum Payments, More than 5 years | 0 | ' | ' |
Operating Leases, Future Minimum Payments Due | 969,000 | ' | ' |
Operating Leases, Rent Expense, Net | $600,000 | $600,000 | $500,000 |
Segment_Information_Details
Segment Information (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of reportable segments | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' |
Segment Reporting, Measurement Differences Between Segment and Consolidated Profit (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | 'The Company has no reportable differences between segments and consolidated operations. | ' | ' |
Premiums | ' | ' | ' | ' | ' | ' | ' | ' | $176,158 | $169,873 | $161,395 |
Net investment income | ' | ' | ' | ' | ' | ' | ' | ' | 36,597 | 31,725 | 30,099 |
Realized investment gains (losses), net | ' | ' | ' | ' | ' | ' | ' | ' | -247 | 196 | 765 |
Decrease in fair value of warrants | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 451 | 1,136 |
Other income | ' | ' | ' | ' | ' | ' | ' | ' | 1,128 | 514 | 761 |
Total revenue | 56,866 | 53,616 | 53,608 | 49,546 | 54,070 | 52,182 | 49,602 | 46,905 | 213,636 | 202,759 | 194,156 |
Claims and surrenders | ' | ' | ' | ' | ' | ' | ' | ' | 64,427 | 64,656 | 60,056 |
Increase in future policy benefit reserves | ' | ' | ' | ' | ' | ' | ' | ' | 74,220 | 66,676 | 58,264 |
Policyholders' dividends | ' | ' | ' | ' | ' | ' | ' | ' | 9,470 | 9,091 | 8,072 |
Total insurance benefits paid or provided | ' | ' | ' | ' | ' | ' | ' | ' | 148,117 | 140,423 | 126,392 |
Commissions | ' | ' | ' | ' | ' | ' | ' | ' | 40,477 | 39,398 | 38,374 |
Other general expenses | ' | ' | ' | ' | ' | ' | ' | ' | 26,590 | 25,664 | 26,040 |
Capitalization of deferred policy acquisition costs | ' | ' | ' | ' | ' | ' | ' | ' | -29,398 | -29,074 | -27,826 |
Amortization of deferred policy acquisition costs | ' | ' | ' | ' | ' | ' | ' | ' | 18,511 | 17,845 | 16,848 |
Amortization of cost of customer relationships acquired | ' | ' | ' | ' | ' | ' | ' | ' | 2,408 | 2,467 | 2,998 |
Total benefits and expenses | 55,456 | 50,998 | 51,813 | 48,438 | 54,511 | 48,137 | 49,263 | 44,812 | 206,705 | 196,723 | 182,826 |
Income (loss) before income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | 6,931 | 6,036 | 11,330 |
Total assets | 1,216,280 | ' | ' | ' | 1,174,948 | ' | ' | ' | 1,216,280 | 1,174,948 | ' |
Ordinary life | ' | ' | ' | ' | ' | ' | ' | ' | 169,667 | 162,070 | 153,118 |
Group Life | ' | ' | ' | ' | ' | ' | ' | ' | 16 | 1,100 | 1,660 |
Accident and health | ' | ' | ' | ' | ' | ' | ' | ' | 1,529 | 1,635 | 1,561 |
Property | ' | ' | ' | ' | ' | ' | ' | ' | 4,946 | 5,068 | 5,056 |
Reinsurance Costs and Recoveries, Net | ' | ' | ' | ' | ' | ' | ' | ' | -3,228 | -5,673 | -5,692 |
Life Insurance Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Premiums | ' | ' | ' | ' | ' | ' | ' | ' | 132,479 | 126,032 | 118,205 |
Net investment income | ' | ' | ' | ' | ' | ' | ' | ' | 22,237 | 17,828 | 16,401 |
Realized investment gains (losses), net | ' | ' | ' | ' | ' | ' | ' | ' | -222 | 512 | 1,347 |
Decrease in fair value of warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 |
Other income | ' | ' | ' | ' | ' | ' | ' | ' | 891 | 319 | 526 |
Total revenue | ' | ' | ' | ' | ' | ' | ' | ' | 155,385 | 144,691 | 136,479 |
Claims and surrenders | ' | ' | ' | ' | ' | ' | ' | ' | 42,908 | 43,537 | 40,525 |
Increase in future policy benefit reserves | ' | ' | ' | ' | ' | ' | ' | ' | 71,100 | 63,481 | 54,310 |
Policyholders' dividends | ' | ' | ' | ' | ' | ' | ' | ' | 9,400 | 8,846 | 8,004 |
Total insurance benefits paid or provided | ' | ' | ' | ' | ' | ' | ' | ' | 123,408 | 115,864 | 102,839 |
Commissions | ' | ' | ' | ' | ' | ' | ' | ' | 26,033 | 24,895 | 23,482 |
Other general expenses | ' | ' | ' | ' | ' | ' | ' | ' | 11,326 | 10,961 | 11,418 |
Capitalization of deferred policy acquisition costs | ' | ' | ' | ' | ' | ' | ' | ' | -23,830 | -23,371 | -21,675 |
Amortization of deferred policy acquisition costs | ' | ' | ' | ' | ' | ' | ' | ' | 15,701 | 15,077 | 13,769 |
Amortization of cost of customer relationships acquired | ' | ' | ' | ' | ' | ' | ' | ' | 693 | 746 | 921 |
Total benefits and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 153,331 | 144,172 | 130,754 |
Income (loss) before income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | 2,054 | 519 | 5,725 |
Total assets | 772,434 | ' | ' | ' | 717,967 | ' | ' | ' | 772,434 | 717,967 | ' |
Home Service Insurance Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Premiums | ' | ' | ' | ' | ' | ' | ' | ' | 43,679 | 43,841 | 43,190 |
Net investment income | ' | ' | ' | ' | ' | ' | ' | ' | 13,075 | 12,724 | 12,861 |
Realized investment gains (losses), net | ' | ' | ' | ' | ' | ' | ' | ' | -19 | -343 | -601 |
Decrease in fair value of warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 |
Other income | ' | ' | ' | ' | ' | ' | ' | ' | 141 | 80 | 112 |
Total revenue | ' | ' | ' | ' | ' | ' | ' | ' | 56,876 | 56,302 | 55,562 |
Claims and surrenders | ' | ' | ' | ' | ' | ' | ' | ' | 21,519 | 21,119 | 19,531 |
Increase in future policy benefit reserves | ' | ' | ' | ' | ' | ' | ' | ' | 3,120 | 3,195 | 3,954 |
Policyholders' dividends | ' | ' | ' | ' | ' | ' | ' | ' | 70 | 245 | 68 |
Total insurance benefits paid or provided | ' | ' | ' | ' | ' | ' | ' | ' | 24,709 | 24,559 | 23,553 |
Commissions | ' | ' | ' | ' | ' | ' | ' | ' | 14,444 | 14,503 | 14,892 |
Other general expenses | ' | ' | ' | ' | ' | ' | ' | ' | 12,739 | 12,089 | 12,186 |
Capitalization of deferred policy acquisition costs | ' | ' | ' | ' | ' | ' | ' | ' | -5,568 | -5,703 | -6,151 |
Amortization of deferred policy acquisition costs | ' | ' | ' | ' | ' | ' | ' | ' | 2,810 | 2,768 | 3,079 |
Amortization of cost of customer relationships acquired | ' | ' | ' | ' | ' | ' | ' | ' | 1,715 | 1,721 | 2,077 |
Total benefits and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 50,849 | 49,937 | 49,636 |
Income (loss) before income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | 6,027 | 6,365 | 5,926 |
Total assets | 373,432 | ' | ' | ' | 385,046 | ' | ' | ' | 373,432 | 385,046 | ' |
Other Non-Insurance Enterprise Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Premiums | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net investment income | ' | ' | ' | ' | ' | ' | ' | ' | 1,285 | 1,173 | 837 |
Realized investment gains (losses), net | ' | ' | ' | ' | ' | ' | ' | ' | -6 | 27 | 19 |
Decrease in fair value of warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | 451 | 1,136 |
Other income | ' | ' | ' | ' | ' | ' | ' | ' | 96 | 115 | 123 |
Total revenue | ' | ' | ' | ' | ' | ' | ' | ' | 1,375 | 1,766 | 2,115 |
Claims and surrenders | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Increase in future policy benefit reserves | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Policyholders' dividends | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Total insurance benefits paid or provided | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Commissions | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Other general expenses | ' | ' | ' | ' | ' | ' | ' | ' | 2,525 | 2,614 | 2,436 |
Capitalization of deferred policy acquisition costs | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Amortization of deferred policy acquisition costs | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Amortization of cost of customer relationships acquired | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Total benefits and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 2,525 | 2,614 | 2,436 |
Income (loss) before income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | -1,150 | -848 | -321 |
Total assets | 70,414 | ' | ' | ' | 71,935 | ' | ' | ' | 70,414 | 71,935 | ' |
All Countries [Domain] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Premiums | ' | ' | ' | ' | ' | ' | ' | ' | 176,158 | 169,873 | 161,395 |
United States | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Premiums | ' | ' | ' | ' | ' | ' | ' | ' | 52,678 | 67,332 | 51,126 |
Venezuela | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Premiums | ' | ' | ' | ' | ' | ' | ' | ' | 28,317 | 25,035 | 21,150 |
Colombia | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Premiums | ' | ' | ' | ' | ' | ' | ' | ' | 24,724 | 23,010 | 21,765 |
Taiwan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Premiums | ' | ' | ' | ' | ' | ' | ' | ' | 15,678 | 14,879 | 14,196 |
Ecuador | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Premiums | ' | ' | ' | ' | ' | ' | ' | ' | 14,962 | 14,064 | 13,481 |
Argentina | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Premiums | ' | ' | ' | ' | ' | ' | ' | ' | 9,339 | 9,502 | 9,353 |
Other foreign countries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Premiums | ' | ' | ' | ' | ' | ' | ' | ' | $33,688 | $21,724 | $36,016 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal income tax expense | $604,000 | $794,000 | $488,000 | $252,000 | ($144,000) | $1,134,000 | ($64,000) | $581,000 | $2,138,000 | $1,507,000 | $2,848,000 |
Effective Income Tax Rate | ' | ' | ' | ' | ' | ' | ' | ' | 30.80% | 25.00% | 25.10% |
Release of Tax Valuation Allowance in Other Comprehensive Income | ' | ' | ' | ' | ' | ' | ' | ' | 20,000 | 188,000 | 570,000 |
Federal Statutory Income Tax Rate | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | 35.00% | 35.00% |
Operating Loss Carryforwards | 7,521,000 | ' | ' | ' | ' | ' | ' | ' | 7,521,000 | ' | ' |
Amount in Policyholders' Surplus Account | 3,291,000 | ' | ' | ' | ' | ' | ' | ' | 3,291,000 | ' | ' |
Tax on Policyholders Surplus Account | $1,152,000 | ' | ' | ' | ' | ' | ' | ' | $1,152,000 | ' | ' |
Income_Taxes_Change_in_Valuati
Income Taxes Change in Valuation Allowance (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Change in Tax Valuation Allowance [Abstract] | ' | ' | ' | ' |
Deferred Tax Liability, Tax Valuation Allowance | $0 | $0 | $0 | $0 |
Other Comprehensive Income, Tax Valuation Allowance | -63 | -83 | -271 | -841 |
Goodwill, Tax Valuation Allowance | 1,058 | 1,058 | 1,058 | 1,058 |
Income Tax Expense (Benefit), Tax Valuation Allowance | -995 | -975 | -787 | -217 |
Deferred Tax Liability, Release of Tax Valuation Allowance | 0 | 0 | 0 | ' |
Other Comprehensive Income, Release of Tax Valuation Allowance | 20 | 188 | 570 | ' |
Goodwill, Release of Tax Valuation Allowance | 0 | 0 | 0 | ' |
Income Tax Expense (Benefit), Release of Tax Valuation Allowance | ($20) | ($188) | ($570) | ' |
Income_Taxes_Reconciliation_of
Income Taxes Reconciliation of Expected Federal Tax Expense to Actual (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected Tax Expense | ' | ' | ' | ' | ' | ' | ' | ' | $2,426 | $2,113 | $3,966 |
Release of Tax Valuation Allowance in Other Comprehensive Income | ' | ' | ' | ' | ' | ' | ' | ' | -20 | -188 | -570 |
Taxable Intercompany Stock Sales | ' | ' | ' | ' | ' | ' | ' | ' | 143 | 182 | 405 |
Tax Exempt Interest and Dividends-Received Deductions | ' | ' | ' | ' | ' | ' | ' | ' | -397 | -364 | -251 |
Change in Fair Value of Options and Warrants | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -158 | -398 |
Adjustment of Prior Year Income Taxes | ' | ' | ' | ' | ' | ' | ' | ' | 60 | 0 | -280 |
Tax Effect of Graduated Income Tax Rates | ' | ' | ' | ' | ' | ' | ' | ' | -100 | -100 | 0 |
Other Reconciling Items | ' | ' | ' | ' | ' | ' | ' | ' | 26 | 22 | -24 |
Federal income tax expense | $604 | $794 | $488 | $252 | ($144) | $1,134 | ($64) | $581 | $2,138 | $1,507 | $2,848 |
Income_Taxes_Components_of_Inc
Income Taxes Components of Income Tax Expense (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current Income Tax Expense | ' | ' | ' | ' | ' | ' | ' | ' | $5,871 | $3,666 | $4,624 |
Deferred Income Tax Expense | ' | ' | ' | ' | ' | ' | ' | ' | -3,733 | -2,159 | -1,776 |
Federal income tax expense | $604 | $794 | $488 | $252 | ($144) | $1,134 | ($64) | $581 | $2,138 | $1,507 | $2,848 |
Income_Taxes_Deferred_Tax_Asse
Income Taxes Deferred Tax Assets and Deferred Tax Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Deferred Tax Assets, Future Policy Benefit Reserves | $39,345 | $34,785 | ' | ' |
Deferred Tax Asset from Net Operating Loss and Capital Loss Carryforwards | 2,632 | 3,098 | ' | ' |
Deferred Tax Asset, Due and Accrued Dividends and Expenses | 1,318 | 1,324 | ' | ' |
Deferred Tax Assets, Investments | 1,805 | 308 | ' | ' |
Deferred Tax Assets, State Income Tax Credits | 128 | 131 | ' | ' |
Deferred Tax Assets, Other | 219 | 542 | ' | ' |
Deferred Tax Assets, Gross | 45,447 | 40,188 | ' | ' |
Deferred Tax Assets, Valuation Allowance | 0 | 0 | 0 | 0 |
Deferred Tax Assets, Net of Valuation Allowance | 45,447 | 40,188 | ' | ' |
Deferred Tax Liabilty from Deferred Acquisition Cost, Value of Business Acquired and Other Intangibles | -42,948 | -40,844 | ' | ' |
Deferred Tax Liability from Unrealized Gains on Investments Available for Sale | -3,741 | -16,023 | ' | ' |
Deferred Tax Liabilities, Other | -462 | -622 | ' | ' |
Gross deferred federal income taxes | -47,151 | -57,489 | ' | ' |
Deferred Tax Liabilities, Net | ($1,704) | ($17,301) | ' | ' |
Income_Taxes_Changes_in_Net_De
Income Taxes Changes in Net Deferred Tax Liability (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Deferred Tax Liabilities, Net, Noncurrent | ($1,704) | ($17,301) | ($13,940) |
Deferred Income Tax Expense (Benefit) | 3,713 | 1,971 | ' |
Available-for-sale Securities, Income Tax Expense on Change in Unrealized Holding Gain (Loss) | 12,282 | -5,529 | ' |
Deferred Tax from Change in Unrealized Gain Loss Atributible to Deferred Acquisition Costs and Value of Business Acquired | ($398) | $197 | ' |
Income_Taxes_Unrecognized_Tax_
Income Taxes Unrecognized Tax Benefits (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | ' | ' | ' |
Unrecognized Tax Benefits | $1,539 | $0 | $0 |
Unrecognized Tax Benefits, Additions Based on Tax Positions Related to Current Year | 896 | 0 | ' |
Unrecognized Tax Benefits, Additions for Tax Positions of Prior Years | 643 | 0 | ' |
Unrecognized Tax Benefits, Reductions for Tax Positions Related to Current Year | 0 | 0 | ' |
Unrecognized Tax Benefits, Reductions for Tax Positions of Prior Years | $0 | $0 | ' |
Other_Comprehensive_Income_Los2
Other Comprehensive Income (Loss) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Equity [Abstract] | ' | ' | ' |
Federal Statutory Income Tax Rate | 35.00% | 35.00% | 35.00% |
Other Comprehensive Income (Loss), Net of Tax | ' | ' | ' |
Unrealized holding gains (losses) arising during the period. before tax | ($35,318) | $15,694 | $30,474 |
Unrealized holding gains (losses) arising during the period, tax effect | 12,361 | -5,493 | -10,666 |
Unrealized holding gains (losses) arising during the period, net of tax | -22,957 | 10,201 | 19,808 |
Reclassification adjustment for (gains) losses included in net income, before tax | 227 | 105 | -1,277 |
Reclassification adjustment for (gains) losses included in net income, tax effect | -79 | -36 | 447 |
Reclassification adjustment for (gains) losses included in net income, net of tax | 148 | 69 | -830 |
Effects on DAC and CCRA, before tax | 1,135 | -564 | -885 |
Effects on DAC and CCRA, tax effect | -398 | 197 | 310 |
Effects on DAC and CCRA, net of tax | 737 | -367 | -575 |
Change in tax valuation allowance, before tax | 0 | 0 | 0 |
Change in tax valuation allowance, tax effect | -20 | -188 | -570 |
Change in tax valuation allowance, net of tax. | -20 | -188 | -570 |
Other comprehensive income (loss), before tax | -33,956 | 15,235 | 28,312 |
Other comprehensive income (loss), tax effect | 11,864 | -5,520 | -10,479 |
Other comprehensive income (loss) | ($22,092) | $9,715 | $17,833 |
Benefit_Plans_Details
Benefit Plans (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Benefit Plans [Abstract] | ' | ' | ' |
Defined Benefit Plan, Contributions by Employer | $600,000 | $800,000 | $1,000,000 |
Stop Loss Coverage on Self-Insured Plan | $100,000 | ' | ' |
Related_Party_Transactions_Int
Related Party Transactions Intercompany related dividends paid (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Citizens Inc. Stock Investment Plan [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Related Party Transaction, Value of Shares Purchased | $0.40 | $0.60 |
Related Party Transaction, Expenses from Transactions with Related Party | 0.1 | 0.2 |
CICA Subsidiary of Citizens, Inc [Domain] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Cash Dividends Paid to Parent Company by Consolidated Subsidiaries | ' | 5.4 |
SPLIC subsidiary of CICA [Domain] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Cash Dividends Paid to Parent Company by Consolidated Subsidiaries | ' | $2.30 |
Quarterly_Financial_Informatio2
Quarterly Financial Information (Unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues | $56,866 | $53,616 | $53,608 | $49,546 | $54,070 | $52,182 | $49,602 | $46,905 | $213,636 | $202,759 | $194,156 |
Benefits and expenses | 55,456 | 50,998 | 51,813 | 48,438 | 54,511 | 48,137 | 49,263 | 44,812 | 206,705 | 196,723 | 182,826 |
Federal income tax expense | 604 | 794 | 488 | 252 | -144 | 1,134 | -64 | 581 | 2,138 | 1,507 | 2,848 |
Net income | 806 | 1,824 | 1,307 | 856 | -297 | 2,911 | 403 | 1,512 | 4,793 | 4,529 | 8,482 |
Common Class A [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $806 | $1,824 | $1,307 | $856 | ($297) | $2,911 | $403 | $1,512 | ' | ' | ' |
Basic earnings per share | $0.02 | $0.03 | $0.03 | $0.02 | ($0.01) | $0.06 | $0.01 | $0.03 | ' | ' | ' |
Diluted earnings per share | $0.02 | $0.03 | $0.03 | $0.02 | ($0.01) | $0.06 | $0.01 | $0.03 | ' | ' | ' |
Common Class B [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic earnings per share | $0.01 | $0.02 | $0.01 | $0.01 | $0 | $0.03 | $0 | $0.02 | ' | ' | ' |
Diluted earnings per share | $0.01 | $0.02 | $0.01 | $0.01 | $0 | $0.03 | $0 | $0.02 | ' | ' | ' |
Subsequent_Events_Details
Subsequent Events (Details) (USD $) | 0 Months Ended | ||
Mar. 07, 2014 | Oct. 07, 2013 | Dec. 31, 2012 | |
Subsequent Events [Abstract] | ' | ' | ' |
Business Acquisition, Date of Acquisition Agreement | ' | 7-Oct-13 | ' |
Purchase price agreed purchase price of acquisition | ' | $5,200,000 | ' |
Statutory accounting practices admitted assets | ' | ' | $8,600,000 |
Business Acquisition, Effective Date of Acquisition | 7-Mar-14 | ' | ' |
Financial_Schedules_Schedule_I3
Financial Schedules Schedule II - Condensed Financial Infornation (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Fixed maturities available-for-sale, at fair value | $605,256 | $604,520 | ' | ' |
Fixed maturities held-to-maturity, at amortized cost | 227,696 | 187,008 | ' | ' |
Equity securities | 47,259 | 53,741 | ' | ' |
Mortgage loans on real estate | 671 | 1,509 | ' | ' |
Real estate and other long-term investments | 8,440 | 8,496 | ' | ' |
Cash and cash equivalents | 54,593 | 56,299 | 33,255 | 49,723 |
Accrued investment income | 12,251 | 10,304 | ' | ' |
Other assets | 765 | 782 | ' | ' |
Total assets | 1,216,280 | 1,174,948 | ' | ' |
Total liabilities | 970,471 | 911,840 | ' | ' |
Accumulated deficit | -12,542 | -17,335 | ' | ' |
Unrealized investment gains on securities held by parent and subsidaries, net of tax | 6,795 | 28,887 | ' | ' |
Treasury stock | -11,011 | -11,011 | ' | ' |
Total stockholders' equity | 245,809 | 263,108 | 248,042 | 219,884 |
Total liabilities and stockholders' equity | 1,216,280 | 1,174,948 | ' | ' |
Parent Company [Member] | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Investment in subsidiary | 179,575 | 197,059 | ' | ' |
Fixed maturities available-for-sale, at fair value | 43,233 | 43,946 | ' | ' |
Fixed maturities held-to-maturity, at amortized cost | 377 | 151 | ' | ' |
Equity securities | 1,079 | 972 | ' | ' |
Mortgage loans on real estate | 354 | 479 | ' | ' |
Real estate and other long-term investments | 6,250 | 6,365 | ' | ' |
Cash and cash equivalents | 17,038 | 16,489 | 16,494 | 23,508 |
Accrued investment income | 630 | 598 | ' | ' |
Accounts receivable from subsidiaries | 2,440 | 2,212 | ' | ' |
Other assets | 139 | 526 | ' | ' |
Total assets | 251,115 | 268,797 | ' | ' |
Accrued expenses and other liabilities | 5,306 | 5,689 | ' | ' |
Total liabilities | 5,306 | 5,689 | ' | ' |
Accumulated deficit | -12,542 | -17,335 | ' | ' |
Unrealized investment gains on securities held by parent and subsidaries, net of tax | 6,795 | 28,887 | ' | ' |
Treasury stock | -11,011 | -11,011 | ' | ' |
Total stockholders' equity | 245,809 | 263,108 | ' | ' |
Total liabilities and stockholders' equity | 251,115 | 268,797 | ' | ' |
Common Class A [Member] | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Common Stock | 259,383 | 259,383 | ' | ' |
Common Class A [Member] | Parent Company [Member] | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Common Stock | 259,383 | 259,383 | ' | ' |
Common Class B [Member] | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Common Stock | 3,184 | 3,184 | ' | ' |
Common Class B [Member] | Parent Company [Member] | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Common Stock | $3,184 | $3,184 | ' | ' |
Financial_Schedules_Schedule_I4
Financial Schedules Schedule II - Statement of Operations (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Decrease in fair value of warrants | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $451 | $1,136 |
Other Income | ' | ' | ' | ' | ' | ' | ' | ' | 1,128 | 514 | 761 |
Realized investment gains (losses), net | ' | ' | ' | ' | ' | ' | ' | ' | -247 | 196 | 765 |
Total revenue | 56,866 | 53,616 | 53,608 | 49,546 | 54,070 | 52,182 | 49,602 | 46,905 | 213,636 | 202,759 | 194,156 |
Federal income tax expense | 604 | 794 | 488 | 252 | -144 | 1,134 | -64 | 581 | 2,138 | 1,507 | 2,848 |
Net income | 806 | 1,824 | 1,307 | 856 | -297 | 2,911 | 403 | 1,512 | 4,793 | 4,529 | 8,482 |
Parent Company [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Management service fees | ' | ' | ' | ' | ' | ' | ' | ' | 27,711 | 27,930 | 28,560 |
Investment income | ' | ' | ' | ' | ' | ' | ' | ' | 1,268 | 1,157 | 822 |
Decrease in fair value of warrants | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 451 | 1,136 |
Other Income | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 0 | 0 |
Realized investment gains (losses), net | ' | ' | ' | ' | ' | ' | ' | ' | -10 | 27 | 18 |
Total revenue | ' | ' | ' | ' | ' | ' | ' | ' | 28,971 | 29,565 | 30,536 |
General | ' | ' | ' | ' | ' | ' | ' | ' | 25,900 | 26,280 | 26,418 |
Taxes, licenses and fees | ' | ' | ' | ' | ' | ' | ' | ' | 942 | 870 | 962 |
Federal income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | 498 | 708 | 709 |
Total expenses | ' | ' | ' | ' | ' | ' | ' | ' | 27,340 | 27,858 | 28,089 |
Income before equity in income of consolidated subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 1,631 | 1,707 | 2,447 |
Equity in income of consolidated subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 3,162 | 2,822 | 6,035 |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | $4,793 | $4,529 | $8,482 |
Financial_Schedules_Schedule_I5
Financial Schedules Schedule II - Statement of Cash Flows (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net income | $4,793 | $4,529 | $8,482 |
Realized investment gains (losses), net | 247 | -196 | -765 |
Decrease in fair value of warrants | 0 | -451 | -1,136 |
Amortization of premiums and discounts on investments | 8,916 | 6,082 | 4,207 |
Depreciation | 1,257 | 1,233 | 1,057 |
Accrued investment income | -1,947 | -2,517 | -354 |
Other, net | -440 | -217 | 170 |
Net cash provided by operating activities | 81,414 | 69,270 | 64,281 |
Purchase of fixed maturities, held-to-maturity | -75,365 | -145,770 | -230,985 |
Calls of fixed maturities, held-to-maturity | 38,413 | 169,880 | 83,611 |
Purchase of fixed maturities, available-for-sale | -105,827 | -220,401 | -110,356 |
Maturities of fixed maturities, available-for-sale | 54,273 | 156,863 | 199,730 |
Purchase of equity securities, available-for-sale | 0 | -10,000 | -32,504 |
Sale of real estate and other long-term investments | 2 | 5 | 5 |
Purchase of other long-term investments and property and equipment | -86 | -116 | -33 |
Net cash used in investing activities | -84,867 | -50,040 | -85,074 |
Warrants exercised | 0 | 822 | 1,843 |
Net cash provided by financing activities | 1,747 | 3,814 | 4,325 |
Net increase (decrease) in cash and cash equivalents | -1,706 | 23,044 | -16,468 |
Cash and cash equivalents at beginning of year | 56,299 | 33,255 | 49,723 |
Cash and cash equivalents at end of year | 54,593 | 56,299 | 33,255 |
Parent Company [Member] | ' | ' | ' |
Net income | 4,793 | 4,529 | 8,482 |
Realized investment gains (losses), net | 10 | -27 | -18 |
Equity in income of consolidated subsidiaries | -3,162 | -2,822 | -6,035 |
Decrease in fair value of warrants | 0 | -451 | -1,136 |
Accrued expenses and other liabilities | -383 | 692 | 1,762 |
Amortization of premiums and discounts on investments | 696 | 492 | 165 |
Depreciation | 229 | 263 | 249 |
Accrued investment income | -32 | -213 | -210 |
Decrease (increase) in receivable from subsidiaries | 159 | 542 | -16 |
Other, net | 418 | -503 | -311 |
Net cash provided by operating activities | 2,728 | 2,502 | 2,932 |
Purchase of fixed maturities, held-to-maturity | -232 | 0 | -1,156 |
Calls of fixed maturities, held-to-maturity | 0 | 0 | 1,000 |
Purchase of fixed maturities, available-for-sale | -2,630 | -16,199 | -24,794 |
Maturities of fixed maturities, available-for-sale | 1,000 | 8,017 | 8,725 |
Purchase of equity securities, available-for-sale | 0 | 0 | -1,000 |
Sale of real estate and other long-term investments | 128 | 11 | 16 |
Purchase of other long-term investments and property and equipment | -5 | -5 | -154 |
Net cash used in investing activities | -1,739 | -8,176 | -17,363 |
Dividend from subsidiary | 0 | 5,400 | 6,800 |
Warrants exercised | 0 | 822 | 1,843 |
Purchase of the Company's stock from affiliates | -440 | -553 | -1,226 |
Net cash provided by financing activities | -440 | 5,669 | 7,417 |
Net increase (decrease) in cash and cash equivalents | 549 | -5 | -7,014 |
Cash and cash equivalents at beginning of year | 16,489 | 16,494 | 23,508 |
Cash and cash equivalents at end of year | $17,038 | $16,489 | $16,494 |
Financial_Schedules_Schedule_I6
Financial Schedules Schedule III - Supplemental Insurance Information (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Supplementary Insurance Information, by Segment [Line Items] | ' | ' |
Supplementary Insurance Information, Deferred policy acquisition costs | $146,691 | $135,569 |
Supplementary Insurance Information, Future policy benefit reserves and policy claims payable | 891,004 | 830,575 |
Supplementary Insurance Information, Unearned premiums | 1,638 | 997 |
Supplementary Insurance Information, Other policy claims and benefits payable | 52,566 | 47,860 |
Life Insurance Segment [Member] | ' | ' |
Supplementary Insurance Information, by Segment [Line Items] | ' | ' |
Supplementary Insurance Information, Deferred policy acquisition costs | 118,274 | 110,144 |
Supplementary Insurance Information, Future policy benefit reserves and policy claims payable | 647,728 | 583,553 |
Supplementary Insurance Information, Unearned premiums | 1,415 | 791 |
Supplementary Insurance Information, Other policy claims and benefits payable | 49,668 | 43,063 |
Home Service Insurance Segment [Member] | ' | ' |
Supplementary Insurance Information, by Segment [Line Items] | ' | ' |
Supplementary Insurance Information, Deferred policy acquisition costs | 28,417 | 25,425 |
Supplementary Insurance Information, Future policy benefit reserves and policy claims payable | 243,276 | 247,022 |
Supplementary Insurance Information, Unearned premiums | 223 | 206 |
Supplementary Insurance Information, Other policy claims and benefits payable | 2,898 | 4,797 |
Other Non-Insurance Enterprise Segment [Member] | ' | ' |
Supplementary Insurance Information, by Segment [Line Items] | ' | ' |
Supplementary Insurance Information, Deferred policy acquisition costs | 0 | 0 |
Supplementary Insurance Information, Future policy benefit reserves and policy claims payable | 0 | 0 |
Supplementary Insurance Information, Unearned premiums | 0 | 0 |
Supplementary Insurance Information, Other policy claims and benefits payable | $0 | $0 |
Financial_Schedules_Schedule_I7
Financial Schedules Schedule IV - Reinsurance (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items] | ' | ' | ' |
Life Insurance Assumed Ratio | 7.60% | 16.10% | 21.90% |
Direct Premiums, Life Insurance in Force | $4,731,606 | $4,641,794 | $4,559,198 |
Ceded Premiums, Life Insurance in Force | 467,491 | 466,898 | 462,220 |
Assumed Premiums, Life Insurance in Force | 352,013 | 801,261 | 1,147,222 |
Premiums, Net, Life Insurance in Force | 4,616,128 | 4,976,157 | 5,244,200 |
Direct Premiums Earned | 179,386 | 175,546 | 167,087 |
Ceded Premiums Earned | 3,416 | 6,948 | 7,566 |
Assumed Premiums Earned | 188 | 1,275 | 1,874 |
Premiums Earned, Net | 176,158 | 169,873 | 161,395 |
Contracts in Force Subject to Participation through Reinsurance, Ratio | 0.10% | 0.80% | 1.20% |
Life Insurance Segment [Member] | ' | ' | ' |
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items] | ' | ' | ' |
Direct Premiums Earned | 171,752 | 163,935 | 154,812 |
Ceded Premiums Earned | 2,257 | 2,040 | 1,908 |
Assumed Premiums Earned | 188 | 1,275 | 1,874 |
Premiums Earned, Net | 169,683 | 163,170 | 154,778 |
Accident and Health Insurance Segment [Member] | ' | ' | ' |
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items] | ' | ' | ' |
Direct Premiums Earned | 1,581 | 5,509 | 6,091 |
Ceded Premiums Earned | 52 | 3,874 | 4,530 |
Assumed Premiums Earned | 0 | 0 | 0 |
Premiums Earned, Net | 1,529 | 1,635 | 1,561 |
Property, Liability and Casualty Insurance Segment [Member] | ' | ' | ' |
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items] | ' | ' | ' |
Direct Premiums Earned | 6,053 | 6,102 | 6,184 |
Ceded Premiums Earned | 1,107 | 1,034 | 1,128 |
Assumed Premiums Earned | 0 | 0 | 0 |
Premiums Earned, Net | $4,946 | $5,068 | $5,056 |