Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2021 | Nov. 09, 2021 | |
Details | ||
Registrant CIK | 0000701869 | |
Fiscal Year End | --12-31 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2021 | |
Document Transition Report | false | |
Entity File Number | 001-32244 | |
Entity Registrant Name | INDEPENDENCE HOLDING COMPANY | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 58-1407235 | |
Entity Address, Address Line One | 96 CUMMINGS POINT ROAD | |
Entity Address, City or Town | STAMFORD | |
Entity Address, State or Province | CT | |
Entity Address, Postal Zip Code | 06902 | |
City Area Code | 203 | |
Local Phone Number | 358-8000 | |
Title of 12(b) Security | Common Stock, $1.00 par value | |
Trading Symbol | IHC | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 14,674,936 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q3 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Investments | ||
Securities Purchased under Agreements to Resell | $ 25,458 | $ 23,962 |
Debt Securities, Available-for-sale | 29,070 | 44,003 |
Other Investments | 2,050 | 1,928 |
Investments | 56,578 | 69,893 |
Cash and Cash Equivalents, at Carrying Value | 7,946 | 17,215 |
Equity Method Investments | 33,475 | 0 |
Escrow Deposit | 78,263 | 0 |
Other Assets | 33,975 | 49,475 |
Disposal Group, Including Discontinued Operation, Assets | 995,383 | 946,573 |
Assets, Total | 1,205,620 | 1,083,156 |
Liabilities | ||
Other Liabilities | 39,817 | 28,387 |
Disposal Group, Including Discontinued Operation, Liabilities | 601,253 | 582,651 |
Liabilities | 641,070 | 611,038 |
Redeemable Noncontrolling Interest, Equity, Common, Carrying Amount | 0 | 2,312 |
TOTAL LIABILITIES AND EQUITY | 1,205,620 | 1,083,156 |
STOCKHOLDERS' EQUITY: | ||
Preferred Stock, Value, Issued | 0 | 0 |
Common Stock, Value, Issued | 18,625 | 18,625 |
Additional Paid in Capital, Common Stock | 125,357 | 124,757 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | 2,320 | 4,197 |
Treasury stock, at cost; 3,950,522 and 3,982,411 shares | 77,247 | 77,088 |
Retained Earnings (Accumulated Deficit) | 495,498 | 399,273 |
TOTAL IHC STOCKHOLDERS' EQUITY | 564,553 | 469,764 |
Stockholders' Equity Attributable to Noncontrolling Interest | (3) | 42 |
TOTAL EQUITY | $ 564,550 | $ 469,806 |
Consolidated Balance Sheets - P
Consolidated Balance Sheets - Parenthetical - $ / shares | Sep. 30, 2021 | Dec. 31, 2020 |
Details | ||
Preferred Stock, Par or Stated Value Per Share | $ 1 | $ 1 |
Preferred Stock, Shares Authorized | 100,000 | 100,000 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Par or Stated Value Per Share | $ 1 | $ 1 |
Common Stock, Shares Authorized | 23,000,000 | 23,000,000 |
Common Stock, Shares, Issued | 18,625,458 | 18,625,458 |
Common Stock, Shares, Outstanding | 14,674,936 | 14,643,047 |
Treasury Stock, Shares | 3,950,522 | 3,982,411 |
Consolidated Income Statement
Consolidated Income Statement - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Revenues | ||||
Net Investment Income | $ 119 | $ 170 | $ 430 | $ 916 |
Insurance Commissions and Fees | 5,569 | 6,113 | 20,291 | 18,465 |
Other Income | 873 | 615 | 1,660 | 1,739 |
Gain (Loss) on Investments | (48) | (53) | 105 | 122 |
Revenues | 6,513 | 6,845 | 22,486 | 21,242 |
Operating Expenses | ||||
Selling, General and Administrative Expense | 21,592 | 16,431 | 53,028 | 43,221 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | (15,079) | (9,586) | (30,542) | (21,979) |
Income Tax Expense (Benefit) | (3,567) | (2,241) | (7,026) | (5,617) |
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | (11,512) | (7,345) | (23,516) | (16,362) |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | ||||
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax | 36,383 | 20,295 | 150,376 | 38,790 |
Discontinued Operation, Tax Effect of Discontinued Operation | 7,512 | 4,218 | 27,567 | 8,836 |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 28,871 | 16,077 | 122,809 | 29,954 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 17,359 | 8,732 | 99,293 | 13,592 |
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest | 0 | (5) | (2) | 29 |
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest | 0 | 49 | (156) | 176 |
Net Income (Loss) Attributable to Parent | $ 17,359 | $ 8,688 | $ 99,451 | $ 13,387 |
Earnings Per Share, Basic | ||||
Income (Loss) from Continuing Operations, Per Basic Share | $ (0.79) | $ (0.50) | $ (1.61) | $ (1.11) |
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share | 1.97 | 1.09 | 8.40 | 2.02 |
Earnings Per Share, Basic | $ 1.18 | $ 0.59 | $ 6.79 | $ 0.91 |
Weighted Average Number of Shares Outstanding, Basic | 14,654 | 14,670 | 14,645 | 14,763 |
Earnings Per Share, Diluted | ||||
Income (Loss) from Continuing Operations, Per Diluted Share | $ (0.79) | $ (0.50) | $ (1.61) | $ (1.11) |
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share | 1.97 | 1.09 | 8.40 | 2.02 |
Earnings Per Share, Diluted | $ 1.18 | $ 0.59 | $ 6.79 | $ 0.91 |
Weighted Average Number of Shares Outstanding, Diluted | 14,654 | 14,670 | 14,645 | 14,763 |
Condensed Consolidated Statemen
Condensed Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Details | ||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 17,359 | $ 8,732 | $ 99,293 | $ 13,592 |
OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment and Tax | ||||
OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment, before Tax | (1,139) | 1,351 | (2,387) | 3,444 |
OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment, Tax | (239) | 287 | (510) | 738 |
OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment and Tax | (900) | 1,064 | (1,877) | 2,706 |
Other Comprehensive Income (Loss), Net of Tax | (900) | 1,064 | (1,877) | 2,706 |
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 16,459 | 9,796 | 97,416 | 16,298 |
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | ||||
Net Income (Loss) Attributable to Noncontrolling Interest | 0 | 44 | (158) | 205 |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest | 0 | 0 | 0 | 0 |
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | 0 | 44 | (158) | 205 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $ 16,459 | $ 9,752 | $ 97,574 | $ 16,093 |
Condensed Consolidated Statem_2
Condensed Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands | Total | COMMON STOCK, AMOUNT | Additional Paid-in Capital | AOCI Attributable to Parent | Treasury Stock | Retained Earnings | Parent | Noncontrolling Interest |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 31, 2019 | $ 459,712 | $ 18,625 | $ 122,717 | $ 1,212 | $ (69,724) | $ 386,864 | $ 459,694 | $ 18 |
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest | 13,416 | 13,387 | 13,387 | 29 | ||||
Other Comprehensive Income (Loss), Net of Tax | 2,706 | 2,706 | 2,706 | 0 | ||||
Treasury Stock, Value, Acquired, Cost Method | 7,053 | 7,053 | 7,053 | 0 | ||||
Sharebased Compensation Effect On Stockholders Equity | 1,728 | 1,637 | 91 | 1,728 | 0 | |||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | 3 | 0 | 3 | |||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Sep. 30, 2020 | 467,260 | 18,625 | 124,354 | 3,918 | (76,686) | 397,005 | 467,216 | 44 |
Dividends, Common Stock, Cash | 3,246 | 3,246 | 3,246 | 0 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Jun. 30, 2020 | 459,324 | 18,625 | 123,804 | 2,854 | (74,325) | 388,317 | 459,275 | 49 |
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest | 8,683 | 8,688 | 8,688 | (5) | ||||
Other Comprehensive Income (Loss), Net of Tax | 1,064 | 1,064 | 1,064 | 0 | ||||
Treasury Stock, Value, Acquired, Cost Method | 2,452 | 2,452 | 2,452 | 0 | ||||
Sharebased Compensation Effect On Stockholders Equity | 641 | 550 | 91 | 641 | 0 | |||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Sep. 30, 2020 | 467,260 | 18,625 | 124,354 | 3,918 | (76,686) | 397,005 | 467,216 | 44 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 31, 2020 | 469,806 | 18,625 | 124,757 | 4,197 | (77,088) | 399,273 | 469,764 | 42 |
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest | 99,449 | 99,451 | 99,451 | (2) | ||||
Other Comprehensive Income (Loss), Net of Tax | (1,877) | (1,877) | (1,877) | 0 | ||||
Treasury Stock, Value, Acquired, Cost Method | 521 | 521 | 521 | 0 | ||||
Sharebased Compensation Effect On Stockholders Equity | 1,025 | 663 | 362 | 1,025 | 0 | |||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | 106 | 63 | 63 | 43 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Sep. 30, 2021 | 564,550 | 18,625 | 125,357 | 2,320 | (77,247) | 495,498 | 564,553 | (3) |
Dividends, Common Stock, Cash | 3,226 | 3,226 | 3,226 | 0 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Jun. 30, 2021 | 548,488 | 18,625 | 125,653 | 3,220 | (77,189) | 478,139 | 548,448 | 40 |
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest | 17,359 | 17,359 | 17,359 | 0 | ||||
Other Comprehensive Income (Loss), Net of Tax | (900) | (900) | (900) | 0 | ||||
Treasury Stock, Value, Acquired, Cost Method | 381 | 381 | 381 | 0 | ||||
Sharebased Compensation Effect On Stockholders Equity | 90 | (233) | 323 | 90 | 0 | |||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | 106 | 63 | 63 | 43 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Sep. 30, 2021 | $ 564,550 | $ 18,625 | $ 125,357 | $ 2,320 | $ (77,247) | $ 495,498 | $ 564,553 | $ (3) |
Condensed Consolidated Statem_3
Condensed Consolidated Statement of Stockholders' Equity - Parenthetical - $ / shares | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Details | ||
Common Stock, Dividends, Per Share, Declared | $ 0.22 | $ 0.22 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
CASH FLOWS PROVIDED BY (USED BY) OPERATING ACTIVITIES: | ||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 99,293 | $ 13,592 |
Net Cash Provided by (Used in) Operating Activities | 41,683 | 37,785 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect | (56,270) | (578) |
Adjustments to reconcile net income to net change in cash from | ||
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | (74,008) | 0 |
Discontinued Operation, Provision for Loss (Gain) on Disposal, before Income Tax | 1,021 | 0 |
Deferred and Sharebased Compensation, Noncash | 7,001 | 2,929 |
Investment Income, Net, Amortization of Discount and Premium | (408) | (481) |
Gain (Loss) on Investments | 105 | 122 |
Depreciation, Depletion and Amortization, Nonproduction | 977 | 800 |
Other Noncash Income (Expense) | (13,975) | (4,710) |
Increase (Decrease) in Operating Capital | ||
Increase (Decrease) in Insurance Liabilities | 2,048 | 14,670 |
Increase (Decrease) in Premiums Receivable | 14,577 | 2,852 |
Increase (Decrease) in Contract with Customer, Asset | 332 | 0 |
Increase (Decrease) in Reinsurance Recoverable | (4,279) | (5,334) |
Change in Claim Fund Balances | (1,133) | 751 |
Increase (Decrease) in Other Operating Assets and Liabilities, Net | (2,836) | 2,508 |
Net Cash Provided by (Used in) Investing Activities | ||
Payments for (Proceeds from) Short-term Investments | (2,560) | 1,049 |
Proceeds from (Payments for) Securities Purchased under Agreements to Resell | (145,314) | 28,844 |
Proceeds from Sale of Debt and Equity Securities, FV-NI, Held-for-investment | 3,494 | 0 |
Proceeds from Sale of Debt Securities, Available-for-sale | 10,351 | 39,388 |
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale | 56,634 | 96,964 |
Payments to Acquire Debt Securities, Available-for-sale | 8,343 | 170,088 |
Cash Divested from Deconsolidation | 4,878 | 0 |
Payments to Acquire Businesses, Net of Cash Acquired | 0 | 13,707 |
Payments to Acquire Other Investments | 2,500 | 1,250 |
Other investing activities | 2,418 | 3,998 |
Net Cash Provided by (Used in) Investing Activities | (90,414) | (24,896) |
Net Cash Provided by (Used in) Financing Activities | ||
Payments for Repurchase of Common Stock | 521 | 6,882 |
Net Change Annuities and Investment Certificates | (144) | (464) |
Payments of Ordinary Dividends, Common Stock | 6,443 | 6,215 |
Proceeds from (Payments for) Other Financing Activities | (431) | 94 |
Net Cash Provided by (Used in) Financing Activities | (7,539) | (13,467) |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations, Beginning Balance | 74,793 | 24,631 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations, Ending Balance | 18,523 | 24,053 |
Noncash or Part Noncash Divestiture, Amount of Consideration Received | $ 78,263 | $ 0 |
Organization, Consolidation, Ba
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | 9 Months Ended |
Sep. 30, 2021 | |
Notes | |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies | Note 1. Organization, Consolidation, Basis of Presentation and Accounting Policies (A) Business and Organization (B) Basis of Presentation The unaudited Condensed Consolidated Financial Statements have been prepared in conformity with U.S. generally accepted accounting principles ("GAAP") for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X and, therefore, do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited Condensed Consolidated Financial Statements include the accounts of IHC and its consolidated subsidiaries. All significant intercompany transactions have been eliminated in consolidation. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect: (i) the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements; and (ii) the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. IHC’s Annual Report on Form 10-K as filed with the Securities and Exchange Commission should be read in conjunction with the accompanying unaudited Condensed Consolidated Financial Statements. During the second and third quarters of 2021, the Board of Directors committed to various plans for the disposal of several business operations (see Note 2). Each plan represents a strategic shift that will have a major effect on the Company’s operations and financial results and as such, they each qualify for reporting as discontinued operations in 2021. The assets, liabilities, and related income and expenses associated with each disposal group are presented as discontinued operations in the accompanying condensed consolidated financial statements and Notes thereto for all periods presented. In March 2020, the World Health Organization declared the outbreak of COVID-19 a global health pandemic and the United States declared a national health emergency. COVID-19 has led to largescale disruption in the global economy, market instability and widespread unemployment in the United States. The COVID-19 outbreak continues to be a fluid situation and as it evolves, the duration of COVID-19 and its potential effects on our business cannot be certain. Regulatory mandates have affected, and we anticipate will continue to impact, the insurance industry. We currently cannot predict if there will be a material impact to our business, results of operations or financial condition in future reporting periods. Consequently, future changes in market conditions may impact estimates used in the preparation of our financial statements associated with evaluations of goodwill and other intangible assets for impairment, estimates associated with the determination of valuation allowances related to net operating loss carryforwards, and estimates of certain losses under insurance contracts. These estimates may all be subject to substantial adjustments in future periods. In addition, volatile market conditions may result in declines in the fair value of our investment portfolio and possible impairments of certain securities. In the opinion of management, all adjustments (consisting only of normal recurring accruals) that are necessary for a fair presentation of the consolidated financial position and results of operations for the interim periods have been included. The condensed consolidated results of operations for the three months and nine months ended September 30, 2021 are not necessarily indicative of the results to be anticipated for the entire year. (C) Reclassifications Certain amounts in prior year’s condensed consolidated financial statements and Notes thereto have been reclassified to conform to the 2021 presentation, primarily for the effects of discontinued operations. (D) Recent Accounting Pronouncements Recently Adopted Accounting Standards In December 2019, the Financial Accounting Standard Board (“FASB”) issued guidance to simplify the accounting for income taxes. The guidance eliminates certain exceptions related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities related to changes in ownership of equity method investments and foreign subsidiaries. The guidance also simplifies aspects of accounting for franchise taxes, the requirement to allocate current and deferred tax expense to legal entities not subject to tax in its separate financial statements, enacted changes in tax laws or rates, and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The adoption of this guidance did not have a material effect on the Company’s consolidated financial statements. Recently Issued Accounting Standards Not Yet Adopted In October 2021, the FASB issued guidance to improve comparability after a business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination. The guidance requires an acquirer to recognize and measure contract assets and contract liabilities acquired in a business combination in the same manner that they were recognized and measured in the acquiree’s financial statements before the acquisition. For public companies, the amendments in this guidance are effective for fiscal years beginning after December 15, 2022, and for interim periods within those fiscal years, with early implementation permitted, and should be applied prospectively to business combinations occurring on or after the effective date of the amendments. The amendments in this guidance is not expected to have a material effect on the Company’s consolidated financial statements. In August 2018, the FASB issued guidance to improve existing measurements, presentation and disclosure requirements for long-duration contracts issued by insurance entities. The amendments in this guidance requires an entity to (1) review and update assumptions used to measure cash flows at least annually as well as update the discount rate assumption at each reporting date; (2) measure market risk benefits associated with deposit contracts at fair value; (3) disclose liability rollforwards and information about significant inputs, judgements assumptions, and methods used in measurement. Additionally, it simplifies the amortization of deferred acquisition costs and other balances on a constant level basis over the expected term of the related contracts. In 2019, the FASB delayed the original effective dates. For smaller reporting companies, the amendments in this guidance are now effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024. Upon adoption, the amendments in this guidance should be applied to contracts in-force as of the beginning of the earliest period presented with a cumulative adjustment to beginning retained earnings. Management is evaluating the requirements and potential impact that the adoption of this guidance will have on the Company’s consolidated financial statements. In June 2016, the FASB issued guidance requiring financial assets measured at amortized cost basis to be presented at the net amount expected to be collected. An allowance for credit losses will be deducted from the amortized cost basis to present the net carrying value at the amount expected to be collected with changes in the allowance recorded in earnings. Credit losses relating to available-for-sale debt securities will also be recorded through an allowance for credit losses rather than the currently applied U.S. GAAP method of taking a permanent impairment of the security, which would be limited to the amount by which fair value is below the amortized cost. Certain existing requirements used to evaluate credit losses have been removed. In 2019, the FASB provided transition relief by providing entities with an option to irrevocably elect the fair value option on an instrument-by-instrument basis for eligible instruments upon adoption and delayed the original effective dates. For smaller reporting companies, the amendments in this guidance are now effective for fiscal years beginning after December 15, 2022, including interim periods within those years. Early adoption is permitted. The amendments in this guidance should be applied through a cumulative effect adjustment to retained earnings upon adoption as of the beginning of the first reporting period in which the guidance is effective. Management is evaluating the requirements and potential impact that the adoption of this guidance will have on the Company’s consolidated financial statements. |
Disposal Groups, Including Disc
Disposal Groups, Including Discontinued Operations, Disclosure | 9 Months Ended |
Sep. 30, 2021 | |
Notes | |
Disposal Groups, Including Discontinued Operations, Disclosure | Note 2. Discontinued Operations (A) Sale of Standard Security Life On April 14, 2021, IHC and its wholly owned subsidiary, Independence Capital Corp. (“ICC”), entered into a Stock Purchase Agreement with Reliance Standard Life Insurance Company (“Reliance Standard”) to sell all of the issued and outstanding capital stock of Standard Security Life, a wholly owned subsidiary of ICC, for an aggregate purchase price of $180,000,000 in cash. On July 29, 2021, the stock purchase agreement was amended and restated (the “SSL Amended Purchase Agreement”). In accordance with the SSL Amended Purchase Agreement, the Company will receive the excess of aggregate statutory capital and surplus, calculated as of the closing date, over $57,000,000. The closing of the transaction, the closing distribution and certain other items are subject to customary closing conditions including applicable regulatory approvals, one of which is the approval of the New York State Department of Financial Services (”NYSDFS”). Standard Security Life focuses on underwriting and selling its New York short-term disability (“DBL”) and paid family leave rider (“PFL”) products and ceded a portion of this business to Independence American Insurance Company. We filed notice and received approval to cancel this reinsurance contract in accordance with the terms of the SSL Amended Purchase Agreement effective June 30, 2021. Under the terms of the SSL Amended Purchase Agreement, the sale transaction will include all of Standard Security Life’s DBL and PFL business (including the DBL and PFL business previously ceded to Independence American Insurance Company) in addition to all its other lines of business. The DBL and PFL business being sold was part of the Company’s Group disability, life, DBL and PFL segment. The aforementioned transaction, consisting of the sale of Standard Security Life, the closing distribution and other closing conditions, is collectively referred to as the “SSL Sale” transaction or disposal group. DBL and PFL are major product lines for the Company. The sale of Standard Security Life and resulting exit from DBL and PFL business represents a strategic shift that will have a major effect on the Company’s operations and financial results. The SSL Sale transaction qualified for reporting as discontinued operations in the second quarter of 2021 upon the Board of Director’s commitment to a plan for its disposal in April 2021. Provided that all regulatory approvals and other closing conditions are met, the Company expects to complete the SSL Sale transaction by the end of 2021. Aside from customary transition services, there will be no continuing involvement with Standard Security Life after its disposal. (B) Sale of Pet Division and Independence American Insurance Company (“Pets Sale”) On May 17, 2021, IHC and certain subsidiaries entered into agreements to sell a 70% controlling interest in its pet division, including all of the issued and outstanding capital stock of Independence American Insurance Company to a subsidiary of Iguana Capital, Inc. (“Iguana Capital”), an investment company specifically formed to facilitate this transaction as follows: (i) (ii) (iii) Both agreements are subject to customary closing conditions. The closing of the IAHC Purchase Agreement however is also subject to certain regulatory approvals, one of which is the approval of the Delaware Insurance Department. For this reason, the transaction was structured as two agreements such that the sale of PetPartners occurred on June 30, 2021, and the closing of the transactions contemplated in the IAHC Purchase Agreement will follow at a later date upon receipt of applicable regulatory approvals. Provided that all regulatory approvals and other closing conditions are met, the Company expects to complete the IAHC sale transaction by the end of 2021. Under the terms of the IAHC Purchase Agreement, the transaction includes the sale of all Independence American Insurance Company’s pet business and excludes other business lines. These excluded business lines will be reinsured by Madison National Life prior to closing. The reinsurance agreement will remain in effect until the underlying business runs out. The aforementioned transaction, consisting of the sale of PetPartners, IAHC and Independence American Insurance Company, and other closing conditions, is collectively referred to as the “Pets Sale” transaction or disposal group. The pet business being sold was part of the Company’s Specialty Health segment. Because the pet business is a major product line for the Company, and the Company will no longer actively engage in the sales and marketing of pet insurance, the Pets Sale transaction represents a strategic shift that will have a major effect on the Company’s operations and financial results. The Pets Sale transaction qualified for reporting as discontinued operations in the second quarter of 2021 as a result of the Board of Directors’ commitment to a plan for the disposal of a controlling interest in its pet business in May 2021, and the execution of both the PPI Purchase Agreement and the IAHC Purchase Agreement on May 17, 2021. On June 30, 2021, the Company completed the sale of its majority interest in PetPartners and, as a result, the Company ceased to have a controlling financial interest in PetPartners. Upon closing, the Company received proceeds of $78,263,000 (consisting of the purchase price and certain initial working capital adjustments), recognized an initial equity investment in Iguana Capital valued at $33,762,000, and recorded a $62,229,000 gain on the disposal, net of transaction costs and income taxes for the nine months ended September 30, 2021. Transaction costs consisting of transaction bonuses, legal expenses and financial advisor expenses amounted to an aggregate of $6,079,000. The PPI Purchase Agreement includes a waiver and consent to offer The American Kennel Club (“AKC”), PetPartners’ minority shareholder, until December 31, 2021, the right to sell their shares at the same price and terms as in the PPI Purchase Agreement. In the event AKC desires to sell such its shares, Iguana Capital and SBH will equally finance the cash payment to AKC. In connection with the PPI Sale transaction, the Company recorded a $6,800,000 contingent liability (the maximum amount required) based on its belief that AKC will exercise this right. If for any reason the IAHC Purchase Agreement is terminated, then at the option of either SBH or an affiliate of Iguana Capital, IAHC may reacquire the Company’s interest in PetPartners (the “PPI Put/Call Option”). The value of the PPI Put/Call Option was deemed to be negligible due to the structure of the put and call features, the short time horizon and the Company’s belief that there is a low probability that the deal would be terminated. The proceeds received from the sale of PetPartners were deposited into an escrow account owned by SBH and treated as a security deposit. The funds will be released from escrow upon either the consummation of the IAHC sale transaction or upon the exercise of the PPI Put/Call Option. At September 30, 2021, the security deposit is presented as funds held in escrow on the Condensed Consolidated Balance Sheet. Continuing involvement with the Pets Sale disposal group will consist of customary transition services, the PPI Put/Call Option and the equity investment in Iguana Capital. At September 30, 2021, the carrying value of the Company’s 30% equity interest in Iguana Capital is $33,475,000. The investment is accounted for using the equity method of accounting, and for the three months and nine months ended September 30, 2021, the Company recorded an equity loss of $(287,000) on its investment in Iguana Capital. In the fourth quarter of 2021, the Company committed to invest an additional $3,200,000 to Iguana Capital, but as a result of the magnitude of other investments being made by Iguana Capital, the Company expects its equity interest in Iguana Capital will be diluted. (C) Sale of Madison National Life On July 14, 2021, IHC and its wholly owned subsidiary ICC entered into a stock purchase agreement (the “MNL Purchase Agreement”) with Horace Mann Educators Corporation to sell all of the issued and outstanding capital stock of Madison National Life, which is wholly owned by ICC, for an aggregate purchase price of $172,500,000 in cash; in addition, if Madison National Life reaches specified financial targets in 2023, IHC will receive an additional purchase price of up to $12,500,000. In accordance with the MNL Stock Purchase agreement and prior to closing, Madison National Life will enter into a reinsurance agreement with Independence American Insurance Company to reinsure all of Independence American Insurance Company’s non-pet business, primarily specialty health products, that are excluded from the Pets Sale transaction discussed above. The transaction has been approved by the Board of Directors of IHC, and IHC’s majority stockholders have entered into a voting agreement under which such majority stockholders agreed to approve the transaction. IHC’s majority stockholders approved the transaction by written consent on October 18, 2021. The closing is expected no earlier than January 1, 2022; and the transaction is subject to customary closing conditions, including applicable regulatory approvals, one of which is the approval by the Wisconsin Office of the Commissioner of Insurance. The aforementioned transaction, which includes the reinsured specialty health business of Independence American Insurance Company, is referred to as the “MNL Sale” transaction or disposal group and qualifies for reporting as discontinued operations in the third quarter of 2021 upon the Board of Director’s commitment to the disposal plan in July 2021. In addition to customary transition services, there will be some continuing involvement with Madison National Life after its disposal with regards to the runout of the reinsured specialty health lines of business. The following is a reconciliation, by disposal group, of the carrying amounts of major classes of assets and liabilities included in discontinued operations on the Condensed Consolidated Balance Sheets for the periods indicated (in thousands): September 30, 2021 SSL Sale Pets Sale MNL Sale Total Major classes of assets: Investments and cash $ 154,902 $ 151,036 $ 195,993 $ 501,931 Due from reinsurers 13,237 - 339,689 352,926 Goodwill - 41,716 12,486 54,202 Other assets 36,431 16,663 33,230 86,324 Assets attributable to discontinued operations $ 204,570 $ 209,415 $ 581,398 $ 995,383 Major classes of liabilities: Policy benefits and claims $ 43,576 $ 13,727 $ 117,352 $ 174,655 Future policy benefits 20,650 - 174,534 195,184 Funds on deposit 593 - 141,935 142,528 Unearned premiums 13,956 6,497 1,791 22,244 Other liabilities 19,656 2,508 44,478 66,642 Liabilities attributable to discontinued operations $ 98,431 $ 22,732 $ 480,090 $ 601,253 December 31, 2020 SSL Sale Pets Sale MNL Sale Total Major classes of assets: Investments and cash $ 114,916 $ 149,844 $ 193,821 $ 458,581 Due from reinsurers 13,188 - 344,017 357,205 Goodwill - 62,414 12,486 74,900 Other assets 19,015 22,389 14,483 55,887 Assets attributable to discontinued operations $ 147,119 $ 234,647 $ 564,807 $ 946,573 Major classes of liabilities: Policy benefits and claims $ 39,296 $ 11,775 $ 128,161 $ 179,232 Future policy benefits 21,236 - 176,850 198,086 Funds on deposit 710 - 140,666 141,376 Unearned premiums 5,394 5,629 1,766 12,789 Other liabilities 10,382 8,012 32,774 51,168 Liabilities attributable to discontinued operations $ 77,018 $ 25,416 $ 480,217 $ 582,651 The following is a reconciliation, by disposal group, of the major line items constituting the pretax profit of discontinued operations to the income from discontinued operations, net of tax, as shown on the Condensed Consolidated Statements of Income for the periods indicated (in thousands): For the Three Months Ended September 30, 2021 SSL Sale Pets Sale MNL Sale Total Revenues $ 51,274 $ 32,138 $ 41,838 $ 125,250 Expenses: Insurance benefits, claims and reserves 20,214 19,301 12,974 52,489 Selling, general and administrative expenses 8,166 11,466 16,011 35,643 Pretax income of discontinued operations during phase-out 22,894 1,371 12,853 37,118 Pretax provision for loss on disposal (59) (86) (64) (209) Pretax gain (loss) on disposal of discontinued operations - (526) - (526) Total pretax income from discontinued operations 22,835 759 12,789 36,383 Income tax expense on discontinued operations 4,721 103 2,688 7,512 Income from discontinued operations, net of tax $ 18,114 $ 656 $ 10,101 $ 28,871 For the Three Months Ended September 30, 2020 SSL Sale Pets Sale MNL Sale Total Revenues $ 30,222 $ 22,117 $ 54,036 $ 106,375 Expenses: Insurance benefits, claims and reserves 18,795 12,426 18,606 49,827 Selling, general and administrative expenses 6,398 7,766 22,089 36,253 Pretax income of discontinued operations during phase-out 5,029 1,925 13,341 20,295 Pretax provision for loss on disposal - - - - Pretax gain on disposal of discontinued operations - - - - Total pretax income from discontinued operations 5,029 1,925 13,341 20,295 Income tax expense on discontinued operations 1,031 402 2,785 4,218 Income from discontinued operations, net of tax $ 3,998 $ 1,523 $ 10,556 $ 16,077 For the Nine Months Ended September 30, 2021 SSL Sale Pets Sale MNL Sale Total Revenues $ 146,915 $ 90,913 $ 128,857 $ 366,685 Expenses: Insurance benefits, claims and reserves 74,812 53,675 51,354 179,841 Selling, general and administrative expenses 23,365 35,038 51,052 109,455 Pretax income of discontinued operations during phase-out 48,738 2,200 26,451 77,389 Pretax provision for loss on disposal (461) (480) (80) (1,021) Pretax gain on disposal of discontinued operations - 74,008 - 74,008 Total pretax income from discontinued operations 48,277 75,728 26,371 150,376 Income tax expense on discontinued operations 10,046 11,982 5,539 27,567 Income from discontinued operations, net of tax $ 38,231 $ 63,746 $ 20,832 $ 122,809 For the Nine Months Ended September 30, 2020 SSL Sale Pets Sale MNL Sale Total Revenue $ 92,419 $ 55,589 $ 155,272 $ 303,280 Expenses: Insurance benefits, claims and reserves 59,216 32,885 66,373 158,474 Selling, general and administrative expenses 22,895 17,915 65,206 106,016 Pretax income of discontinued operations during phase-out 10,308 4,789 23,693 38,790 Pretax provision for loss on disposal - - - - Pretax gain on disposal of discontinued operations - - - - Total pretax income from discontinued operations 10,308 4,789 23,693 38,790 Income tax expense on discontinued operations 2,488 1,143 5,205 8,836 Income from discontinued operations, net of tax $ 7,820 $ 3,646 $ 18,488 $ 29,954 The assets and liabilities in discontinued operations are measured at the lower of their carry value or fair value less cost to sell. During the three months and nine months ended September 30, 2021, it was not necessary to write-down any assets or liabilities attributable to the disposal groups in discontinued operations to fair value, less costs to sell. The Company expects to recognize gains from the sales of these disposal groups, therefore, any costs to sell the disposal groups, primarily legal expenses, incurred prior to the actual disposal of the discontinued operation, are expensed when incurred and presented in pretax provision for loss on disposal in the tables above. Pretax income (loss) from discontinued operations during phase-out attributable to IHC was $37,118,000 and $77,389,000 for the three and nine months ended September 30, 2021, respectively, and was $20,295,000 and $38,790,000 for the three and nine months ended September 30, 2020, respectively. Total cash flows from operating activities of discontinued operations were $54,693,000 and $52,019,000 for the nine months ended September 30, 2021 and 2020, respectively. Total cash flows from investing activities of discontinued operations were $(100,302,000) and $(44,836,000) for the nine months ended September 30, 2021 and 2020, respectively. On a consolidated basis, the Company recorded $7,512,000 and $4,218,000 of income taxes related to pretax income from discontinued operations for the three months ended September 30, 2021 and 2020, respectively, and $27,567,000 and $8,836,000 for the nine months ended September 30, 2021 and 2020, respectively. In 2021, the amounts for the nine months period include $11,675,000 of income taxes related to the pretax gain on disposal of discontinued operations. In connection with the sale of PetPartners, AMIC decreased its valuation allowance on existing deferred tax assets by $8,281,000 and utilized approximately $46,116,000 of its outstanding Federal net operating loss carryforwards (See Note 12). Differences between the Federal statutory income tax rate on discontinued operations and the Company’s effective income tax rate on pretax income from discontinued operations are primarily the result of AMIC’s decrease in its valuation allowance, state and local income taxes, nondeductible goodwill and other expenses. |
Earnings Per Share _Text Block_
Earnings Per Share [Text Block] | 9 Months Ended |
Sep. 30, 2021 | |
Notes | |
Earnings Per Share | Note 3. Income Per Common Share Diluted income per share was computed using the treasury stock method. As a result of losses from continuing operations for the three months and nine months ended September 30, 2021 and 2020, such shares were deemed anti-dilutive. The following is a reconciliation of income available to common shareholders used to calculate income per share for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Loss from continuing operations attributable to IHC $ (11,512) $ (7,340) $ (23,514) $ (16,391) Income from discontinued operations attributable to IHC 28,871 16,028 122,965 29,778 Net income attributable to IHC $ 17,359 $ 8,688 $ 99,451 $ 13,387 |
Cash and Cash Equivalents Discl
Cash and Cash Equivalents Disclosure | 9 Months Ended |
Sep. 30, 2021 | |
Notes | |
Cash and Cash Equivalents Disclosure | Note 4. Cash, Cash Equivalents and Restricted Cash September 30, 2021 2020 Cash and cash equivalents $ 7,946 $ 7,750 Restricted cash in other assets 362 681 Cash, cash equivalents and restricted cash in discontinued operations 10,215 15,622 Total cash, cash equivalents and restricted cash including discontinued operations $ 18,523 $ 24,053 Restricted cash includes insurance premiums collected from insureds that are pending remittance to insurance carriers and/or payment of insurance claims and commissions to third party administrators. These amounts are required to be set aside by contractual agreements with the insurance carriers and are included in other assets on the Condensed Consolidated Balance Sheets. |
Investments in Debt and Marketa
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure | 9 Months Ended |
Sep. 30, 2021 | |
Notes | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure | Note 5. Investment Securities The cost (amortized cost with respect to certain fixed maturities), gross unrealized gains, gross unrealized losses and fair value of fixed maturities available-for-sale are as follows for the periods indicated (in thousands): September 30, 2021 GROSS GROSS AMORTIZED UNREALIZED UNREALIZED FAIR COST GAINS LOSSES VALUE FIXED MATURITIES AVAILABLE-FOR-SALE: Corporate securities $ 17,435 $ 177 $ (92) $ 17,520 CMOs – residential (1) 576 30 - 606 U.S. Government obligations 4,814 - - 4,814 Agency MBS - residential (2) 33 - (4) 29 States and political subdivisions 5,075 29 (31) 5,073 Foreign government obligations 1,009 19 - 1,028 Total fixed maturities $ 28,942 $ 255 $ (127) $ 29,070 December 31, 2020 GROSS GROSS AMORTIZED UNREALIZED UNREALIZED FAIR COST GAINS LOSSES VALUE FIXED MATURITIES AVAILABLE-FOR-SALE: Corporate securities $ 26,898 $ 394 $ (193) $ 27,099 CMOs – residential (1) 914 50 - 964 U.S. Government obligations 4,958 - - 4,958 Agency MBS - residential (2) 39 - (5) 34 States and political subdivisions 9,845 65 (45) 9,865 Foreign government obligations 1,050 33 - 1,083 Total fixed maturities $ 43,704 $ 542 $ (243) $ 44,003 (1) (2) The amortized cost and fair value of fixed maturities available-for-sale at September 30, 2021, by contractual maturity, are shown below (in thousands). Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. AMORTIZED FAIR COST VALUE Due in one year or less $ 1,111 $ 1,111 Due after one year through five years 13,840 13,824 Due after five years through ten years 1,931 2,015 Due after ten years 11,451 11,485 Fixed maturities with no single maturity date 609 635 $ 28,942 $ 29,070 The following tables summarize, for all fixed maturities available-for-sale in an unrealized loss position, the aggregate fair value and gross unrealized loss by length of time those securities that have continuously been in an unrealized loss position for the periods indicated (in thousands): September 30, 2021 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Corporate securities $ - $ - $ 10,720 $ 92 $ 10,720 $ 92 Agency MBS - residential 29 4 - - 29 4 States and political subdivisions 401 8 1,095 23 1,496 31 Fixed maturities in an unrealized loss position $ 430 $ 12 $ 11,815 $ 115 $ 12,245 $ 127 Number of fixed maturities in an unrealized loss position 2 2 4 December 31, 2020 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Corporate securities $ 10,998 $ 96 $ 4,453 $ 97 $ 15,451 $ 193 Agency MBS - residential 34 5 - - 34 5 States and political subdivisions 4,269 14 1,124 31 5,393 45 Fixed maturities in an unrealized loss position $ 15,301 $ 115 $ 5,577 $ 128 $ 20,878 $ 243 Number of fixed maturities in an unrealized loss position 5 2 7 Substantially all of the unrealized losses on fixed maturities available-for-sale at September 30, 2021 and December 31, 2020 relate to investment grade securities. Management does not intend to sell, and it is likely that management will not be required to sell these securities prior to their anticipated recovery. The unrealized losses on the Company's fixed maturity securities are related to general market changes in interest rates, and/or the levels of credit spreads largely due to current market conditions relating to the COVID-19 pandemic rather than specific concerns with the issuer's ability to pay interest and repay principal. We have evaluated each corporate security’s credit rating as well as industry risk factors associated with the securities. The fair value of these securities is expected to recover as they approach maturity and therefore the Company does not consider these investments to be other-than-temporarily impaired at September 30, 2021. Net investment gains (losses) are as follows for periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Realized gains (losses): Fixed maturities available-for-sale $ (48) $ (53) $ 105 $ 105 Total realized gains (losses) on debt and equity securities (48) (53) 105 105 Gains (losses) on other investments - - - 17 Net investment gains (losses) $ (48) $ (53) $ 105 $ 122 For the three months and nine months ended September 30, 2021, the Company realized gross gains of $0 and $188,000, respectively, and gross losses of $48,000 and $83,000, respectively, from sales, maturities and prepayments of fixed maturities available-for-sale. For the three months and nine months ended September 30, 2020, the Company realized gross gains of $0 and $162,000, respectively, and gross losses of $53,000 and $57,000, respectively, from sales, maturities and prepayments of fixed maturities available-for-sale. Other-Than-Temporary Impairment Evaluations We recognize other-than-temporary impairment losses in earnings in the period that we determine: 1) we intend to sell the security; 2) it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis; or 3) the security has a credit loss. Any non-credit portion of the other-than-temporary impairment loss is recognized in other comprehensive income (loss). See Note 1G(v) to the Consolidated Financial Statements in the 2020 Annual Report on Form 10-K for further discussion of the factors considered by management in its regular review to identify and recognize other-than-temporary impairments on fixed maturities available-for-sale. The Company did not recognize any other-than-temporary impairments on available-for-sale securities in the first nine months of 2021 or 2020. |
Fair Value Disclosures _Text Bl
Fair Value Disclosures [Text Block] | 9 Months Ended |
Sep. 30, 2021 | |
Notes | |
Fair Value Disclosures | Note 6. Fair Value Disclosures For all financial and non-financial assets and liabilities accounted for at fair value on a recurring basis, the Company utilizes valuation techniques based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market expectations. These two types of inputs create the following fair value hierarchy: Level 1 Level 2 Level 3 The following section describes the valuation methodologies we use to measure different assets at fair value. Fixed maturities available-for-sale: Fixed maturities available-for-sale included in Level 2 are comprised of our portfolio of government securities, agency mortgage-backed securities, corporate fixed income securities, foreign government obligations, collateralized mortgage obligations and municipals that were priced with observable market inputs. The Company does not have any level 3 securities in continuing operations at September 30, 2021 or December 31, 2020. The following tables present our financial assets measured at fair value on a recurring basis for the periods indicated (in thousands): September 30, 2021 Level 1 Level 2 Level 3 Total FINANCIAL ASSETS: Fixed maturities available-for-sale: Corporate securities $ - $ 17,520 $ - $ 17,520 CMOs - residential - 606 - 606 US Government obligations - 4,814 - 4,814 Agency MBS - residential - 29 - 29 States and political subdivisions - 5,073 - 5,073 Foreign government obligations - 1,028 - 1,028 Total fixed maturities - 29,070 - 29,070 Total Financial Assets $ - $ 29,070 $ - $ 29,070 December 31, 2020 Level 1 Level 2 Level 3 Total FINANCIAL ASSETS: Fixed maturities available-for-sale: Corporate securities $ - $ 27,099 $ - $ 27,099 CMOs - residential - 964 - 964 US Government obligations - 4,958 - 4,958 Agency MBS - residential - 34 - 34 States and political subdivisions - 9,865 - 9,865 Foreign government obligations - 1,083 - 1,083 Total fixed maturities - 44,003 - 44,003 Total Financial Assets $ - $ 44,003 $ - $ 44,003 The following table provides carrying values, fair values and classification in the fair value hierarchy of the Company’s financial instruments, that are not carried at fair value but are subject to fair value disclosure requirements, for the periods indicated (in thousands): September 30, 2021 December 31, 2020 Level 1 Level 2 Level 1 Level 2 Fair Fair Carrying Fair Fair Carrying Value Value Value Value Value Value FINANCIAL ASSETS: Securities purchased under agreements to resell $ 25,458 $ - $ 25,458 $ 23,962 $ - $ 23,962 The following methods and assumptions were used to estimate the fair value of the financial instruments that are not carried at fair value in the Condensed Consolidated Financial Statements: Securities purchased under agreements to resell Securities purchased under agreements to resell are carried at the amounts at which the securities will be subsequently resold, which approximates fair value. |
Variable Interest Entity Disclo
Variable Interest Entity Disclosure [Text Block] | 9 Months Ended |
Sep. 30, 2021 | |
Notes | |
Variable Interest Entity Disclosure | Note 7. Variable Interest Entities The Company has a minority interest in a limited partnership that we have determined to be a Variable Interest Entity (“VIE”). The aforementioned VIE is not required to be consolidated in the Company’s condensed consolidated financial statements as we are not the primary beneficiary since we do not have the power to direct the activities that most significantly impact the VIE’s economic performance. The Company will periodically reassess whether we are the primary beneficiary in this investment. The reassessment process will consider whether we have acquired the power to direct the most significant activities of the VIE through changes in governing documents or other circumstances. Our maximum loss exposure is limited to our $2,050,000 carrying value in this equity investment, which is included in other investments in the Condensed Consolidated Balance Sheet as of September 30, 2021. |
Related Party Transactions Disc
Related Party Transactions Disclosure [Text Block] | 9 Months Ended |
Sep. 30, 2021 | |
Notes | |
Related Party Transactions Disclosure | Note 8. Related Party Transactions At September 30, 2021 and December 31, 2020, the Company’s Condensed Consolidated Balance Sheets include $85,000 and $163,000, respectively, of administrative fees and other expenses payable to Ebix Health Exchange Holdings, LLC (“Ebix Health Exchange”), which are included in liabilities attributable to discontinued operations. The Company’s Condensed Consolidated Statements of Income include administrative fee expenses to Ebix Health Exchange, which are included in pretax income from discontinued operations, of $349,000 and $1,111,000, respectively, for the three months and nine months ended September 30, 2021; and include $407,000 and $1,306,000, respectively, for the same periods in 2020. |
Business Combination Disclosure
Business Combination Disclosure | 9 Months Ended |
Sep. 30, 2021 | |
Notes | |
Business Combination Disclosure | Note 9. Acquisition Torchlight Technology Group LLC. On April 15, 2020 (the "Torchlight Acquisition Date"), the Company acquired the remaining 77% membership units of Torchlight Technology Group LLC, (“Torchlight”) for a purchase price of $11,443,000 in cash and other consideration valued at $185,000. In accordance with the purchase and sale agreement, the Company will also make future incentive payments to the former owners based on the future market appreciation of IHC. These payments will be accounted for as compensation for post-combination services. The Company purchased Torchlight for its marketing technology (“MarTech”), artificial data intelligence, and consumer lead generation capabilities. In an effort to further expand our InsureTech division (comprised of Torchlight, our call centers, field and career agents, and web domains), the Company wants to be able to internally develop and deliver lead traffic opportunities in an affordable and controlled environment. The Company accounted for its prior ownership interest using the equity method. Immediately preceding the transaction, the Company determined the fair value of its equity interest to be $3,432,000 using the income approach and, as a result, recorded a gain of $519,000, which is included in other income on the Condensed Consolidated Statement of Income. Upon the acquisition, the Company consolidated the assets and liabilities of Torchlight. The following table presents the identifiable assets acquired and liabilities assumed in the acquisition of Torchlight on the Torchlight Acquisition Date based on their respective fair values (in thousands): Cash $ 333 Intangible assets 2,700 Other assets 2,132 Total identifiable assets 5,165 Other liabilities 1,227 Total liabilities 1,227 Net identifiable assets acquired $ 3,938 In connection with the acquisition, the Company recorded $11,122,000 of goodwill, of which $7,976,000 is deductible for income tax purposes, and $2,700,000 of intangible assets. In 2021, this goodwill was allocated among the Pets Sale and MNL Sale disposal groups and is included in assets attributable to discontinued operations on the Condensed Consolidated Balance Sheets. Goodwill for Torchlight represented the synergies with our agencies. With a significant dependence on consumer and small business opportunities, our agencies require a consistent and predictable flow of lead traffic, and as a result, have meaningful synergies with the functions and deliverables that are developed at Torchlight. Before the acquisition of Torchlight, our agency was fully dependent on market traffic, which was both unpredictable in price and availability. Such restrictions would not allow for coordinated or scheduled growth. Goodwill was calculated as the sum of (i) the acquisition date fair value of total aggregate consideration transferred of $11,628,000; and (ii) the aggregate acquisition-date fair value of equity interests immediately before the acquisition of $3,432,000; over (iii) the net identifiable assets of $3,938,000 that were acquired. The enterprise value of Torchlight was determined by an independent appraisal using a discounted cash flow model. Acquisition-related costs, primarily legal and consulting fees, were not material and are included in selling, general and administrative expenses in the Condensed Consolidated Statement of Income. Revenue and net loss from Torchlight for the period from the Torchlight Acquisition Date to September 30, 2020 is $3,920,000 and $(1,815,000), respectively. The net loss is primarily related to the integration of Torchlight with the Company’s other operations. Pro forma adjustments to present the Company’s consolidated revenues and net income as if the acquisition date was January 1, 2019 are not material and accordingly are omitted. |
Intangible Assets Disclosure _T
Intangible Assets Disclosure [Text Block] | 9 Months Ended |
Sep. 30, 2021 | |
Notes | |
Intangible Assets Disclosure | Note 10. Intangible Assets The Company has net intangible assets of $3,012,000 and $3,531,000 at September 30, 2021 and December 31, 2020, respectively, which are included in other assets in the Condensed Consolidated Balance Sheets. These intangible assets consist of finite-lived intangible assets, principally the fair value of acquired agent and broker relationships, which are subject to amortization. The gross carrying amounts of these intangible assets are as follows for the periods indicated (in thousands): September 30, 2021 December 31, 2020 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization Finite-lived Intangible Assets: Agent and broker relationships $ 6,583 $ 4,707 $ 7,583 $ 5,385 Software systems 1,500 364 1,500 167 Total finite-lived $ 8,083 $ 5,071 $ 9,083 $ 5,552 |
Revenue from Contract with Cust
Revenue from Contract with Customer | 9 Months Ended |
Sep. 30, 2021 | |
Notes | |
Revenue from Contract with Customer | Note 11. Fee Income All of the fee income recorded by the IHC Agencies and its lead generation company relate to our Specialty Health segment. The following table presents fee income disaggregated by type for the periods indicated (in thousands). Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Commissions $ 1,372 $ 1,684 $ 5,662 $ 5,346 Commissions from affiliates 1,820 2,410 5,572 7,602 Administrative Fees - - - 875 Marketing Fees 198 290 757 933 Enrollment Platform Fees 454 502 1,539 1,476 Lead and Referral Fees 1,681 1,111 6,627 1,964 Application and Other Fees 44 116 134 269 Total Fee Income $ 5,569 $ 6,113 $ 20,291 $ 18,465 Commission s Commission revenues result from the sales of certain policies by the IHC Agencies on behalf of multiple unaffiliated insurance carriers. Increased sales of products to these unaffiliated insurance carriers began in 2020 as a result of new contracts with the carriers and increased distribution channels. These policies primarily consist of senior products, such as Medicare Advantage, Medicare Part D prescription drug plans and Medicare Supplement plans, as well as Affordable Care Act (“ACA”) plans. A significant portion of our commission revenues are recorded at a point in time upon the issuance of a policy by the unaffiliated insurance carrier based on expected constrained lifetime value (“LTV”). Constrained LTV represents expected commissions to be received over the lifetime of the policies sold. The Company analyzes various factors, such as commission rates, carrier mix, contract amendments and terminations, estimated average plan durations, cancellations and non-renewals, to estimate the LTV. Constraints are applied to help ensure that the total estimated lifetime commissions expected to be collected are recognized as revenue only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur. We evaluate the appropriateness of our constraints on a quarterly basis and update the LTV assumptions if we observe evidence that suggests a change in the underlying long-term expectations. In doing this, we apply significant judgement in assessing historical cash collections and changes in circumstances that would impact future cash collections such as, but not limited to, commission rates, carrier mix, plan durations, plan cancellations and non-renewals. Changes in LTV result in an increase or decrease to fee income revenue and a corresponding increase or decrease to contract assets. Any significant impact due to changes in the LTV assumptions are recognized in revenue (i) in the period of the change; and (ii) to the extent we do not believe a significant reversal is probable. Commissions from Affiliates Costs to Fulfill a Contract Costs to fulfill a contract include commissions owed to independent licensed agents or affinity partners that are contracted by the IHC Agencies. Upon the submission of a completed insurance application, the sales and marketing performance obligation is complete and the resultant estimated lifetime commission costs incurred are expensed and a corresponding commission liability is recorded on the Condensed Consolidated Balance Sheet. As policyholders continue their policy and remit monthly premium payments, the Company receives its commissions from the insurance carrier. Commissions owed to the agent or affinity partner are then paid and the corresponding liability is reduced. Judgement is required to estimate total expected lifetime commissions based on policy duration assumptions. At September 30, 2021 and December 31, 2020, the aforementioned commission liability was $2,750,000 and $2,362,000, respectively, and is included in accounts payable, accruals and other liabilities on the Condensed Consolidated Balance Sheet. Contract Asset Contract assets primarily relate to our commission revenues for the sales of senior products, such as Medicare Advantage and Medicare Supplement plans and ACA plans, which began in 2020. When commission revenue for the sales of these products is recognized, a corresponding contract asset is recorded in other assets on the Condensed Consolidated Balance Sheet. The timing of revenue differs from the collection of commissions. As policyholders continue their policy and remit monthly premium payments, the Company receives its commissions from the insurance carrier and the contract asset is reduced. The following table summarizes the contract asset activity for the period indicated (in thousands). Nine Months Ended September 30, 2021 Beginning Balance $ 7,760 Commissions recognized during the period 6,950 Commission adjustments related to prior periods (1,295) Cash receipts (5,291) Ending Balance $ 8,124 Remaining Performance Obligations Deferred revenues are recorded in connection with the right to use our INSX enrollment platform. At September 30, 2021 and December 31, 2020, deferred revenues are immaterial and expected to be fully recognized within the next 12 months. |
Income Tax Disclosure _Text Blo
Income Tax Disclosure [Text Block] | 9 Months Ended |
Sep. 30, 2021 | |
Notes | |
Income Tax Disclosure | Note 12. Income Taxes The provisions for income taxes shown in the Condensed Consolidated Statements of Income were computed by applying the effective tax rate expected to be applicable for the reporting periods. Differences between the Federal statutory income tax rate and the Company’s effective income tax rate are principally from the dividends received deduction and tax-exempt interest income, state and local income taxes, and compensation related tax provisions. On December 31, 2020, AMIC had Federal net operating loss carryforwards of approximately $46,116,000 and a corresponding valuation allowance of $8,281,000 related to those net operating loss carryforwards that, in the judgment of management, were not considered realizable. On June 30, 2021, the Company sold PetPartners and recorded a pretax gain of $74,008,000 (See Note 2). As a result, AMIC decreased its valuation allowance by $8,281,000 and utilized the $46,116,000 of its outstanding Federal net operating loss carryforwards. Total income tax expense related to the pretax gain on disposal of discontinued operations was $11,675,000. The primary differences between the Federal statutory income tax rate and the Company’s effective income tax rate related to the gain on disposal of discontinued operations are the result of AMIC’s decrease in its valuation allowance, partially offset by the non-deductibility of goodwill and other expenses related to the disposal. The effective income tax rates related to losses from continuing operations in 2021 were impacted by tax benefits from exercises of share-based compensation and state and local income tax benefits on certain subsidiaries. In 2020, the effective income tax rates related to losses from continuing operations reflect a benefit from capital losses attributable to the sale of a subsidiary and state and local income tax benefits on certain subsidiaries. On March 27, 2020, as part of the business stimulus package in response to the COVID-19 pandemic, the U.S. government enacted the Coronavirus Aid, Relief, and Economic Security ("CARES") Act. The CARES Act established new tax provisions including, but not limited to: (1) five-year carryback of net operating losses ("NOLs") generated in 2018, 2019 and 2020; (2) accelerated refund of alternative minimum tax (AMT) credit carryforwards; and (3) retroactive changes to allow accelerated depreciation for certain depreciable property. At this time, the legislation does not have a material impact on the Company due to the lack of taxable losses in the stated carryback eligible tax years and the fact that the Company was already expecting to receive a cash benefit for the remaining AMT credits in the fiscal 2018 tax year return. The New York State Department of Taxation and Finance has selected the Company’s 2015 and 2016 NYS returns for audit. |
Stockholders' Equity Note Discl
Stockholders' Equity Note Disclosure [Text Block] | 9 Months Ended |
Sep. 30, 2021 | |
Notes | |
Stockholders' Equity Note Disclosure | Note 13. Stockholders’ Equity Accumulated Other Comprehensive Income (Loss) Other comprehensive income (loss) includes the after-tax net unrealized gains and losses on investment securities available-for-sale, including the subsequent increases and decreases in fair value of available-for-sale securities previously impaired and the non-credit related component of other-than-temporary impairments of fixed maturities. Changes in the balances of accumulated other comprehensive income, shown net of taxes, for the periods indicated are as follows (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Beginning balance $ 3,220 $ 2,854 $ 4,197 $ 1,212 Other comprehensive income (loss): Other comprehensive income (loss) before reclassifications (999) 873 (2,012) 3,417 Amounts reclassified from accumulated OCI 99 191 135 (711) Net other comprehensive income (loss) (900) 1,064 (1,877) 2,706 Ending balance $ 2,320 $ 3,918 $ 2,320 $ 3,918 Presented below are the amounts reclassified out of accumulated other comprehensive income (loss) and recognized in earnings for each of the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Unrealized gains (losses) on available-for-sale securities reclassified during the period to the following income statement line items: Net investment gains (losses) $ (48) $ (53) $ 106 $ 105 Income (loss) from continuing operations before income taxes (48) (53) 106 105 Income tax expense (benefit) (11) (10) 20 23 Income (loss) from continuing operations, net of tax (37) (43) 86 82 Total pretax income (loss) from discontinued operations (79) (188) (280) 796 Income tax expense (benefit) on discontinued operations (17) (40) (59) 167 Income from discontinued operations, net of tax (62) (148) (221) 629 Net income (loss) $ (99) $ (191) $ (135) $ 711 |
Cash Flow, Supplemental Disclos
Cash Flow, Supplemental Disclosures [Text Block] | 9 Months Ended |
Sep. 30, 2021 | |
Notes | |
Cash Flow, Supplemental Disclosures | Note 14. Supplemental Disclosures of Cash Flow Information Net cash payments for income taxes were $10,131,000 and $436,000 during the nine months ended September 30, 2021 and 2020, respectively. |
Commitments and Contingencies D
Commitments and Contingencies Disclosure [Text Block] | 9 Months Ended |
Sep. 30, 2021 | |
Notes | |
Commitments and Contingencies Disclosure | Note 15. Contingencies Third Party Administrator A third party administrator with whom we formerly did business (“Plaintiff” or “TPA”) commenced an action on May 17, 2017 in the United States District Court, Northern District of Texas, Dallas Division (the “Texas Action”), naming IHC, Madison National Life, Standard Security Life, and Independence Brokerage Group, Inc. (formerly IHC Carrier Solutions, Inc.) as defendants (“Defendants”). The Plaintiff seeks contractual payments allegedly owed by the Defendants totaling at least $3,082,000 through 2014, plus additional amounts for 2015 and 2016, and exemplary and punitive damages as allowed by law and fees and costs. The court had previously stayed the proceedings during the pendency of two arbitrations. The first arbitration resulted in a judicially-confirmed award in favor of Standard Security Life and Madison National Life in the amount of $5,641,000, which the Plaintiff has satisfied. The Company received payment on September 9, 2020. The resultant income is included in income from discontinued operations in the Condensed Consolidated Statements of Income for the three months and nine months ended September 30, 2020. The second arbitration resulted in no monetary obligations owed by any of the parties. The Plaintiff has filed a motion for leave to file a Second Amended Complaint. The Defendants filed a Motion to Dismiss Plaintiff’s Second Amended Complaint. This motion is fully briefed and we are awaiting the Court’s decision. Multistate Market Conduct Examination (“MCE”) As previously disclosed, our subsidiaries Standard Security Life, Madison National Life and Independence American Insurance Company were selected for MCE related to our short-term medical (“STM”), limited medical and fixed indemnity limited health insurance products for the period of January 1, 2014 through September 30, 2017. The insurance departments of five jurisdictions (Delaware, Wisconsin, District of Columbia, Kansas and South Dakota) served as lead states, and the District of Columbia Department of Insurance, Securities and Banking and the Delaware Department of Insurance served as the managing lead states of the MCE. In addition to the five lead states, 37 other states participated in the MCE. Each of Standard Security Life, Madison National Life and Independence American Insurance Company responded to inquiries and document production requests in the MCE and proactively communicated and cooperated with the applicable regulatory agencies for the MCE. Each of these subsidiaries also provided a detailed action plan to regulators that summarized its enhanced compliance and control mechanisms. In an effort to avoid long‐term litigation and/or administrative proceedings that would be required to resolve disputes between Standard Security Life, Madison National Life and Independence American Insurance Company and the states involved in the MCE, the Lead States and Standard Security Life, Madison National Life and Independence American Insurance Company entered into separate RSAs on July 14, 2020. The RSAs require the implementation of a compliance plan, impose certain requirements related to specified business practices and monetary payments. The thirty-seven participating states adopted the RSAs. The Company accrued $3,660,000 in accounts payable, accruals and other liabilities on the Consolidated Balance Sheet in the second quarter of 2020 and processed payment in October 2020. The corresponding expense is included in income from discontinued operations in the Condensed Consolidated Statements of Income for the nine months ended September 30, 2020. As set forth in the RSAs, Standard Security Life, Madison National Life and Independence American Insurance Company deny any wrongdoing or violation of any applicable laws or regulations, and the entry into the RSAs is not an admission or acknowledgment of any wrongdoing or liability. In accordance with the RSAs, the Monitoring Period commenced and Standard Security Life, Madison National Life and Independence American Insurance Company continue to comply. |
Segment Reporting Disclosure _T
Segment Reporting Disclosure [Text Block] | 9 Months Ended |
Sep. 30, 2021 | |
Notes | |
Segment Reporting Disclosure | Note 16. Segment Reporting The Insurance Group principally engages in the life and health insurance business. As a result of the pending sales discussed in Note 2, the operations of the Insurance Group, and certain other pet assets, are presented in discontinued operations. Continuing operations consist primarily of the IHC Agencies which are in the Specialty Health segment. Taxes and general expenses associated with parent company activities are included in Corporate. Identifiable assets by segment are those assets that are utilized in each segment and are allocated based upon the mean reserves and liabilities of each such segment. Corporate assets are composed principally of cash equivalents, resale agreements, fixed maturities, partnership interests and certain other investments. Management will re-assess the Company’s reportable segments based on its new organizational structure after the pending sale transactions discussed in Note 2 are consummated. Information by business segment is presented below for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 20 21 2020 2021 2020 Revenues: Specialty Health $ 5,520 $ 6,749 $ 20,204 $ 19,188 Group disability and life - - - - Individual life, annuities and other - - - - Corporate 1,041 149 2,177 1,932 6,561 6,898 22,381 21,120 Net investment gains (losses) (48) (53) 105 122 Total revenues $ 6,513 $ 6,845 $ 22,486 $ 21,242 Income before income taxes Specialty Health (A) $ (7,022) $ (6,969) $ (17,921) $ (16,579) Group disability and life - - - - Individual life, annuities and other - - - - Corporate (B) (8,009) (2,564) (12,726) (5,522) (15,031) (9,533) (30,647) (22,101) Net investment gains (losses) (48) (53) 105 122 Loss from continuing operations before income taxes $ (15,079) $ (9,586) $ (30,542) $ (21,979) (A) (B) |
Organization, Consolidation, _2
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]: Basis of Accounting, Policy [Policy Text Block] (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Policies | |
Basis of Accounting, Policy | The unaudited Condensed Consolidated Financial Statements have been prepared in conformity with U.S. generally accepted accounting principles ("GAAP") for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X and, therefore, do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited Condensed Consolidated Financial Statements include the accounts of IHC and its consolidated subsidiaries. All significant intercompany transactions have been eliminated in consolidation. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect: (i) the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements; and (ii) the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. IHC’s Annual Report on Form 10-K as filed with the Securities and Exchange Commission should be read in conjunction with the accompanying unaudited Condensed Consolidated Financial Statements. During the second and third quarters of 2021, the Board of Directors committed to various plans for the disposal of several business operations (see Note 2). Each plan represents a strategic shift that will have a major effect on the Company’s operations and financial results and as such, they each qualify for reporting as discontinued operations in 2021. The assets, liabilities, and related income and expenses associated with each disposal group are presented as discontinued operations in the accompanying condensed consolidated financial statements and Notes thereto for all periods presented. In March 2020, the World Health Organization declared the outbreak of COVID-19 a global health pandemic and the United States declared a national health emergency. COVID-19 has led to largescale disruption in the global economy, market instability and widespread unemployment in the United States. The COVID-19 outbreak continues to be a fluid situation and as it evolves, the duration of COVID-19 and its potential effects on our business cannot be certain. Regulatory mandates have affected, and we anticipate will continue to impact, the insurance industry. We currently cannot predict if there will be a material impact to our business, results of operations or financial condition in future reporting periods. Consequently, future changes in market conditions may impact estimates used in the preparation of our financial statements associated with evaluations of goodwill and other intangible assets for impairment, estimates associated with the determination of valuation allowances related to net operating loss carryforwards, and estimates of certain losses under insurance contracts. These estimates may all be subject to substantial adjustments in future periods. In addition, volatile market conditions may result in declines in the fair value of our investment portfolio and possible impairments of certain securities. In the opinion of management, all adjustments (consisting only of normal recurring accruals) that are necessary for a fair presentation of the consolidated financial position and results of operations for the interim periods have been included. The condensed consolidated results of operations for the three months and nine months ended September 30, 2021 are not necessarily indicative of the results to be anticipated for the entire year. |
Organization, Consolidation, _3
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]: Reclassification, Policy [Policy Text Block] (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Policies | |
Reclassification, Policy | Certain amounts in prior year’s condensed consolidated financial statements and Notes thereto have been reclassified to conform to the 2021 presentation, primarily for the effects of discontinued operations. |
Organization, Consolidation, _4
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]: New Accounting Pronouncements, Policy [Policy Text Block] (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Policies | |
New Accounting Pronouncements, Policy | Recently Adopted Accounting Standards In December 2019, the Financial Accounting Standard Board (“FASB”) issued guidance to simplify the accounting for income taxes. The guidance eliminates certain exceptions related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities related to changes in ownership of equity method investments and foreign subsidiaries. The guidance also simplifies aspects of accounting for franchise taxes, the requirement to allocate current and deferred tax expense to legal entities not subject to tax in its separate financial statements, enacted changes in tax laws or rates, and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The adoption of this guidance did not have a material effect on the Company’s consolidated financial statements. Recently Issued Accounting Standards Not Yet Adopted In October 2021, the FASB issued guidance to improve comparability after a business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination. The guidance requires an acquirer to recognize and measure contract assets and contract liabilities acquired in a business combination in the same manner that they were recognized and measured in the acquiree’s financial statements before the acquisition. For public companies, the amendments in this guidance are effective for fiscal years beginning after December 15, 2022, and for interim periods within those fiscal years, with early implementation permitted, and should be applied prospectively to business combinations occurring on or after the effective date of the amendments. The amendments in this guidance is not expected to have a material effect on the Company’s consolidated financial statements. In August 2018, the FASB issued guidance to improve existing measurements, presentation and disclosure requirements for long-duration contracts issued by insurance entities. The amendments in this guidance requires an entity to (1) review and update assumptions used to measure cash flows at least annually as well as update the discount rate assumption at each reporting date; (2) measure market risk benefits associated with deposit contracts at fair value; (3) disclose liability rollforwards and information about significant inputs, judgements assumptions, and methods used in measurement. Additionally, it simplifies the amortization of deferred acquisition costs and other balances on a constant level basis over the expected term of the related contracts. In 2019, the FASB delayed the original effective dates. For smaller reporting companies, the amendments in this guidance are now effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024. Upon adoption, the amendments in this guidance should be applied to contracts in-force as of the beginning of the earliest period presented with a cumulative adjustment to beginning retained earnings. Management is evaluating the requirements and potential impact that the adoption of this guidance will have on the Company’s consolidated financial statements. In June 2016, the FASB issued guidance requiring financial assets measured at amortized cost basis to be presented at the net amount expected to be collected. An allowance for credit losses will be deducted from the amortized cost basis to present the net carrying value at the amount expected to be collected with changes in the allowance recorded in earnings. Credit losses relating to available-for-sale debt securities will also be recorded through an allowance for credit losses rather than the currently applied U.S. GAAP method of taking a permanent impairment of the security, which would be limited to the amount by which fair value is below the amortized cost. Certain existing requirements used to evaluate credit losses have been removed. In 2019, the FASB provided transition relief by providing entities with an option to irrevocably elect the fair value option on an instrument-by-instrument basis for eligible instruments upon adoption and delayed the original effective dates. For smaller reporting companies, the amendments in this guidance are now effective for fiscal years beginning after December 15, 2022, including interim periods within those years. Early adoption is permitted. The amendments in this guidance should be applied through a cumulative effect adjustment to retained earnings upon adoption as of the beginning of the first reporting period in which the guidance is effective. Management is evaluating the requirements and potential impact that the adoption of this guidance will have on the Company’s consolidated financial statements. |
Disposal Groups, Including Di_2
Disposal Groups, Including Discontinued Operations, Disclosure: Disposal Groups, Including Discontinued Operations (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Disposal Groups, Including Discontinued Operations | The following is a reconciliation, by disposal group, of the carrying amounts of major classes of assets and liabilities included in discontinued operations on the Condensed Consolidated Balance Sheets for the periods indicated (in thousands): September 30, 2021 SSL Sale Pets Sale MNL Sale Total Major classes of assets: Investments and cash $ 154,902 $ 151,036 $ 195,993 $ 501,931 Due from reinsurers 13,237 - 339,689 352,926 Goodwill - 41,716 12,486 54,202 Other assets 36,431 16,663 33,230 86,324 Assets attributable to discontinued operations $ 204,570 $ 209,415 $ 581,398 $ 995,383 Major classes of liabilities: Policy benefits and claims $ 43,576 $ 13,727 $ 117,352 $ 174,655 Future policy benefits 20,650 - 174,534 195,184 Funds on deposit 593 - 141,935 142,528 Unearned premiums 13,956 6,497 1,791 22,244 Other liabilities 19,656 2,508 44,478 66,642 Liabilities attributable to discontinued operations $ 98,431 $ 22,732 $ 480,090 $ 601,253 December 31, 2020 SSL Sale Pets Sale MNL Sale Total Major classes of assets: Investments and cash $ 114,916 $ 149,844 $ 193,821 $ 458,581 Due from reinsurers 13,188 - 344,017 357,205 Goodwill - 62,414 12,486 74,900 Other assets 19,015 22,389 14,483 55,887 Assets attributable to discontinued operations $ 147,119 $ 234,647 $ 564,807 $ 946,573 Major classes of liabilities: Policy benefits and claims $ 39,296 $ 11,775 $ 128,161 $ 179,232 Future policy benefits 21,236 - 176,850 198,086 Funds on deposit 710 - 140,666 141,376 Unearned premiums 5,394 5,629 1,766 12,789 Other liabilities 10,382 8,012 32,774 51,168 Liabilities attributable to discontinued operations $ 77,018 $ 25,416 $ 480,217 $ 582,651 The following is a reconciliation, by disposal group, of the major line items constituting the pretax profit of discontinued operations to the income from discontinued operations, net of tax, as shown on the Condensed Consolidated Statements of Income for the periods indicated (in thousands): For the Three Months Ended September 30, 2021 SSL Sale Pets Sale MNL Sale Total Revenues $ 51,274 $ 32,138 $ 41,838 $ 125,250 Expenses: Insurance benefits, claims and reserves 20,214 19,301 12,974 52,489 Selling, general and administrative expenses 8,166 11,466 16,011 35,643 Pretax income of discontinued operations during phase-out 22,894 1,371 12,853 37,118 Pretax provision for loss on disposal (59) (86) (64) (209) Pretax gain (loss) on disposal of discontinued operations - (526) - (526) Total pretax income from discontinued operations 22,835 759 12,789 36,383 Income tax expense on discontinued operations 4,721 103 2,688 7,512 Income from discontinued operations, net of tax $ 18,114 $ 656 $ 10,101 $ 28,871 For the Three Months Ended September 30, 2020 SSL Sale Pets Sale MNL Sale Total Revenues $ 30,222 $ 22,117 $ 54,036 $ 106,375 Expenses: Insurance benefits, claims and reserves 18,795 12,426 18,606 49,827 Selling, general and administrative expenses 6,398 7,766 22,089 36,253 Pretax income of discontinued operations during phase-out 5,029 1,925 13,341 20,295 Pretax provision for loss on disposal - - - - Pretax gain on disposal of discontinued operations - - - - Total pretax income from discontinued operations 5,029 1,925 13,341 20,295 Income tax expense on discontinued operations 1,031 402 2,785 4,218 Income from discontinued operations, net of tax $ 3,998 $ 1,523 $ 10,556 $ 16,077 For the Nine Months Ended September 30, 2021 SSL Sale Pets Sale MNL Sale Total Revenues $ 146,915 $ 90,913 $ 128,857 $ 366,685 Expenses: Insurance benefits, claims and reserves 74,812 53,675 51,354 179,841 Selling, general and administrative expenses 23,365 35,038 51,052 109,455 Pretax income of discontinued operations during phase-out 48,738 2,200 26,451 77,389 Pretax provision for loss on disposal (461) (480) (80) (1,021) Pretax gain on disposal of discontinued operations - 74,008 - 74,008 Total pretax income from discontinued operations 48,277 75,728 26,371 150,376 Income tax expense on discontinued operations 10,046 11,982 5,539 27,567 Income from discontinued operations, net of tax $ 38,231 $ 63,746 $ 20,832 $ 122,809 For the Nine Months Ended September 30, 2020 SSL Sale Pets Sale MNL Sale Total Revenue $ 92,419 $ 55,589 $ 155,272 $ 303,280 Expenses: Insurance benefits, claims and reserves 59,216 32,885 66,373 158,474 Selling, general and administrative expenses 22,895 17,915 65,206 106,016 Pretax income of discontinued operations during phase-out 10,308 4,789 23,693 38,790 Pretax provision for loss on disposal - - - - Pretax gain on disposal of discontinued operations - - - - Total pretax income from discontinued operations 10,308 4,789 23,693 38,790 Income tax expense on discontinued operations 2,488 1,143 5,205 8,836 Income from discontinued operations, net of tax $ 7,820 $ 3,646 $ 18,488 $ 29,954 |
Earnings Per Share _Text Bloc_2
Earnings Per Share [Text Block]: Earnings Per Share, Schedule Of Net Income Attributable To Parent (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Earnings Per Share, Schedule Of Net Income Attributable To Parent | Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Loss from continuing operations attributable to IHC $ (11,512) $ (7,340) $ (23,514) $ (16,391) Income from discontinued operations attributable to IHC 28,871 16,028 122,965 29,778 Net income attributable to IHC $ 17,359 $ 8,688 $ 99,451 $ 13,387 |
Cash and Cash Equivalents Dis_2
Cash and Cash Equivalents Disclosure: Schedule of Cash and Cash Equivalents (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Schedule of Cash and Cash Equivalents | September 30, 2021 2020 Cash and cash equivalents $ 7,946 $ 7,750 Restricted cash in other assets 362 681 Cash, cash equivalents and restricted cash in discontinued operations 10,215 15,622 Total cash, cash equivalents and restricted cash including discontinued operations $ 18,523 $ 24,053 |
Investments in Debt and Marke_2
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure: Debt Securities, Available-for-sale [Table Text Block] (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Debt Securities, Available-for-sale | September 30, 2021 GROSS GROSS AMORTIZED UNREALIZED UNREALIZED FAIR COST GAINS LOSSES VALUE FIXED MATURITIES AVAILABLE-FOR-SALE: Corporate securities $ 17,435 $ 177 $ (92) $ 17,520 CMOs – residential (1) 576 30 - 606 U.S. Government obligations 4,814 - - 4,814 Agency MBS - residential (2) 33 - (4) 29 States and political subdivisions 5,075 29 (31) 5,073 Foreign government obligations 1,009 19 - 1,028 Total fixed maturities $ 28,942 $ 255 $ (127) $ 29,070 December 31, 2020 GROSS GROSS AMORTIZED UNREALIZED UNREALIZED FAIR COST GAINS LOSSES VALUE FIXED MATURITIES AVAILABLE-FOR-SALE: Corporate securities $ 26,898 $ 394 $ (193) $ 27,099 CMOs – residential (1) 914 50 - 964 U.S. Government obligations 4,958 - - 4,958 Agency MBS - residential (2) 39 - (5) 34 States and political subdivisions 9,845 65 (45) 9,865 Foreign government obligations 1,050 33 - 1,083 Total fixed maturities $ 43,704 $ 542 $ (243) $ 44,003 (1) (2) |
Investments in Debt and Marke_3
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure: Investments Classified by Contractual Maturity Date (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Investments Classified by Contractual Maturity Date | AMORTIZED FAIR COST VALUE Due in one year or less $ 1,111 $ 1,111 Due after one year through five years 13,840 13,824 Due after five years through ten years 1,931 2,015 Due after ten years 11,451 11,485 Fixed maturities with no single maturity date 609 635 $ 28,942 $ 29,070 |
Investments in Debt and Marke_4
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure: Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | September 30, 2021 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Corporate securities $ - $ - $ 10,720 $ 92 $ 10,720 $ 92 Agency MBS - residential 29 4 - - 29 4 States and political subdivisions 401 8 1,095 23 1,496 31 Fixed maturities in an unrealized loss position $ 430 $ 12 $ 11,815 $ 115 $ 12,245 $ 127 Number of fixed maturities in an unrealized loss position 2 2 4 December 31, 2020 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Corporate securities $ 10,998 $ 96 $ 4,453 $ 97 $ 15,451 $ 193 Agency MBS - residential 34 5 - - 34 5 States and political subdivisions 4,269 14 1,124 31 5,393 45 Fixed maturities in an unrealized loss position $ 15,301 $ 115 $ 5,577 $ 128 $ 20,878 $ 243 Number of fixed maturities in an unrealized loss position 5 2 7 |
Investments in Debt and Marke_5
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure: Realized Gain (Loss) on Investments (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Realized Gain (Loss) on Investments | Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Realized gains (losses): Fixed maturities available-for-sale $ (48) $ (53) $ 105 $ 105 Total realized gains (losses) on debt and equity securities (48) (53) 105 105 Gains (losses) on other investments - - - 17 Net investment gains (losses) $ (48) $ (53) $ 105 $ 122 |
Fair Value Disclosures _Text _2
Fair Value Disclosures [Text Block]: Fair Value, Assets Measured on Recurring Basis (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Fair Value, Assets Measured on Recurring Basis | September 30, 2021 Level 1 Level 2 Level 3 Total FINANCIAL ASSETS: Fixed maturities available-for-sale: Corporate securities $ - $ 17,520 $ - $ 17,520 CMOs - residential - 606 - 606 US Government obligations - 4,814 - 4,814 Agency MBS - residential - 29 - 29 States and political subdivisions - 5,073 - 5,073 Foreign government obligations - 1,028 - 1,028 Total fixed maturities - 29,070 - 29,070 Total Financial Assets $ - $ 29,070 $ - $ 29,070 December 31, 2020 Level 1 Level 2 Level 3 Total FINANCIAL ASSETS: Fixed maturities available-for-sale: Corporate securities $ - $ 27,099 $ - $ 27,099 CMOs - residential - 964 - 964 US Government obligations - 4,958 - 4,958 Agency MBS - residential - 34 - 34 States and political subdivisions - 9,865 - 9,865 Foreign government obligations - 1,083 - 1,083 Total fixed maturities - 44,003 - 44,003 Total Financial Assets $ - $ 44,003 $ - $ 44,003 |
Fair Value Disclosures _Text _3
Fair Value Disclosures [Text Block]: Fair Value, by Balance Sheet Grouping (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Fair Value, by Balance Sheet Grouping | September 30, 2021 December 31, 2020 Level 1 Level 2 Level 1 Level 2 Fair Fair Carrying Fair Fair Carrying Value Value Value Value Value Value FINANCIAL ASSETS: Securities purchased under agreements to resell $ 25,458 $ - $ 25,458 $ 23,962 $ - $ 23,962 |
Business Combination Disclosu_2
Business Combination Disclosure: Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Torchlight Technology Group Acquisition Member | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | Cash $ 333 Intangible assets 2,700 Other assets 2,132 Total identifiable assets 5,165 Other liabilities 1,227 Total liabilities 1,227 Net identifiable assets acquired $ 3,938 |
Intangible Assets Disclosure _2
Intangible Assets Disclosure [Text Block]: Schedule of Finite-Lived Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Schedule of Finite-Lived Intangible Assets | September 30, 2021 December 31, 2020 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization Finite-lived Intangible Assets: Agent and broker relationships $ 6,583 $ 4,707 $ 7,583 $ 5,385 Software systems 1,500 364 1,500 167 Total finite-lived $ 8,083 $ 5,071 $ 9,083 $ 5,552 |
Revenue from Contract with Cu_2
Revenue from Contract with Customer: Disaggregation of Revenue (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Disaggregation of Revenue | Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Commissions $ 1,372 $ 1,684 $ 5,662 $ 5,346 Commissions from affiliates 1,820 2,410 5,572 7,602 Administrative Fees - - - 875 Marketing Fees 198 290 757 933 Enrollment Platform Fees 454 502 1,539 1,476 Lead and Referral Fees 1,681 1,111 6,627 1,964 Application and Other Fees 44 116 134 269 Total Fee Income $ 5,569 $ 6,113 $ 20,291 $ 18,465 |
Revenue from Contract with Cu_3
Revenue from Contract with Customer: Contract with Customer, Contract Asset, Contract Liability, and Receivable (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Contract with Customer, Contract Asset, Contract Liability, and Receivable | Nine Months Ended September 30, 2021 Beginning Balance $ 7,760 Commissions recognized during the period 6,950 Commission adjustments related to prior periods (1,295) Cash receipts (5,291) Ending Balance $ 8,124 |
Stockholders' Equity Note Dis_2
Stockholders' Equity Note Disclosure [Text Block]: Schedule of Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Schedule of Accumulated Other Comprehensive Income (Loss) | Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Beginning balance $ 3,220 $ 2,854 $ 4,197 $ 1,212 Other comprehensive income (loss): Other comprehensive income (loss) before reclassifications (999) 873 (2,012) 3,417 Amounts reclassified from accumulated OCI 99 191 135 (711) Net other comprehensive income (loss) (900) 1,064 (1,877) 2,706 Ending balance $ 2,320 $ 3,918 $ 2,320 $ 3,918 |
Stockholders' Equity Note Dis_3
Stockholders' Equity Note Disclosure [Text Block]: Reclassification out of Accumulated Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Reclassification out of Accumulated Other Comprehensive Income | Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Unrealized gains (losses) on available-for-sale securities reclassified during the period to the following income statement line items: Net investment gains (losses) $ (48) $ (53) $ 106 $ 105 Income (loss) from continuing operations before income taxes (48) (53) 106 105 Income tax expense (benefit) (11) (10) 20 23 Income (loss) from continuing operations, net of tax (37) (43) 86 82 Total pretax income (loss) from discontinued operations (79) (188) (280) 796 Income tax expense (benefit) on discontinued operations (17) (40) (59) 167 Income from discontinued operations, net of tax (62) (148) (221) 629 Net income (loss) $ (99) $ (191) $ (135) $ 711 |
Segment Reporting Disclosure _2
Segment Reporting Disclosure [Text Block]: Schedule of Segment Reporting Information, by Segment (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Schedule of Segment Reporting Information, by Segment | Three Months Ended Nine Months Ended September 30, September 30, 20 21 2020 2021 2020 Revenues: Specialty Health $ 5,520 $ 6,749 $ 20,204 $ 19,188 Group disability and life - - - - Individual life, annuities and other - - - - Corporate 1,041 149 2,177 1,932 6,561 6,898 22,381 21,120 Net investment gains (losses) (48) (53) 105 122 Total revenues $ 6,513 $ 6,845 $ 22,486 $ 21,242 Income before income taxes Specialty Health (A) $ (7,022) $ (6,969) $ (17,921) $ (16,579) Group disability and life - - - - Individual life, annuities and other - - - - Corporate (B) (8,009) (2,564) (12,726) (5,522) (15,031) (9,533) (30,647) (22,101) Net investment gains (losses) (48) (53) 105 122 Loss from continuing operations before income taxes $ (15,079) $ (9,586) $ (30,542) $ (21,979) (A) (B) |
Organization, Consolidation, _5
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] (Details) - GeneveAffiliatedEntityMember - USD ($) | Nov. 09, 2021 | Sep. 30, 2021 | Aug. 31, 2021 |
EntityCommonStockOutstandingOwnershipPercent | 62.00% | ||
Going Private Transaction, Proposed Purchase Price | $ 50 | ||
Going Private Transaction, Merger Agreement, Purchase Price | $ 57 |
Disposal Groups, Including Di_3
Disposal Groups, Including Discontinued Operations, Disclosure (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||||||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Nov. 04, 2021 | Jul. 29, 2021 | Jul. 14, 2021 | Jun. 30, 2021 | May 17, 2021 | Apr. 14, 2021 | Dec. 31, 2020 | |
Equity Method Investments | $ 33,475 | $ 33,475 | $ 0 | ||||||||
Discontinued Operation, Tax Effect of Discontinued Operation | 7,512 | $ 4,218 | 27,567 | $ 8,836 | |||||||
AMICSubsidiariesMember | |||||||||||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 8,281 | ||||||||||
Operating Loss Carryforwards | $ 46,116 | ||||||||||
Iguana Capital, Inc Member | |||||||||||
Equity Method Investments | $ 33,475 | $ 33,475 | |||||||||
Equity Method Investment, Ownership Percentage | 30.00% | 30.00% | |||||||||
Income (Loss) from Equity Method Investments | $ (287) | $ (287) | |||||||||
Iguana Capital, Inc Member | Subsequent Event | |||||||||||
Equity Method Investment, Commitment For Additional Capital Investment | $ 3,200 | ||||||||||
Discontinued Operations | |||||||||||
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, before Income Tax | 37,118 | 20,295 | 77,389 | 38,790 | |||||||
Cash Provided by (Used in) Operating Activities, Discontinued Operations | 54,693 | 52,019 | |||||||||
Cash Provided by (Used in) Investing Activities, Discontinued Operations | (100,302) | (44,836) | |||||||||
Discontinued Operation, Tax Effect of Discontinued Operation | 7,512 | 4,218 | 27,567 | 8,836 | |||||||
Discontinued Operation, Tax Effect of Gain (Loss) from Disposal of Discontinued Operation | 11,675 | ||||||||||
SSL Sale Member | Discontinued Operations | |||||||||||
Disposal Group Including Discontinued Operation, Transaction Price | $ 180,000 | ||||||||||
Sale Transaction, Statutory Capital And Surplus Target | $ 57,000 | ||||||||||
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, before Income Tax | 22,894 | 5,029 | 48,738 | 10,308 | |||||||
Discontinued Operation, Tax Effect of Discontinued Operation | 4,721 | 1,031 | $ 10,046 | 2,488 | |||||||
Pets Sale Member | Discontinued Operations | |||||||||||
Discontinued Operation, Equity Method Investment Retained after Disposal, Ownership Interest Prior to Disposal | 70.00% | ||||||||||
Discontinued Operation, Equity Method Investment Retained after Disposal, Ownership Interest after Disposal | 30.00% | ||||||||||
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, before Income Tax | 1,371 | 1,925 | $ 2,200 | 4,789 | |||||||
Discontinued Operation, Tax Effect of Discontinued Operation | 103 | 402 | 11,982 | 1,143 | |||||||
Pets Sale, PetPartners Transaction | AMICSubsidiariesMember | |||||||||||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 8,281 | ||||||||||
Pets Sale, PetPartners Transaction | Discontinued Operations | |||||||||||
Disposal Group Including Discontinued Operation, Transaction Price | $ 77,000 | ||||||||||
Disposal Group, Including Discontinued Operation, Consideration | $ 78,263 | ||||||||||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | 62,229 | ||||||||||
Disposal Of Discontinued Operation, Transaction Costs | 6,079 | ||||||||||
Loss Contingency Accrual | 6,800 | ||||||||||
Pets Sale, PetPartners Transaction | Discontinued Operations | Iguana Capital, Inc Member | |||||||||||
Equity Method Investments | $ 33,762 | ||||||||||
Pets Sale, IAHC Transaction | Discontinued Operations | |||||||||||
Disposal Group Including Discontinued Operation, Transaction Price | $ 190,400 | ||||||||||
MNL Sale | Discontinued Operations | |||||||||||
Disposal Group Including Discontinued Operation, Transaction Price | $ 172,500 | ||||||||||
Gain Contingency, Unrecorded Amount | $ 12,500 | ||||||||||
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, before Income Tax | 12,853 | 13,341 | 26,451 | 23,693 | |||||||
Discontinued Operation, Tax Effect of Discontinued Operation | $ 2,688 | $ 2,785 | $ 5,539 | $ 5,205 |
Disposal Groups, Including Di_4
Disposal Groups, Including Discontinued Operations, Disclosure: Disposal Groups, Including Discontinued Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Disposal Group, Including Discontinued Operation, Assets | |||||
Disposal Group, Including Discontinued Operation, Assets | $ 995,383 | $ 995,383 | $ 946,573 | ||
Disposal Group, Including Discontinued Operation, Liabilities | |||||
Disposal Group, Including Discontinued Operation, Liabilities | 601,253 | 601,253 | 582,651 | ||
Discontinued Operation, Provision for Loss (Gain) on Disposal, before Income Tax | 1,021 | $ 0 | |||
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | (74,008) | 0 | |||
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax | 36,383 | $ 20,295 | 150,376 | 38,790 | |
Discontinued Operation, Tax Effect of Discontinued Operation | 7,512 | 4,218 | 27,567 | 8,836 | |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 28,871 | 16,077 | 122,809 | 29,954 | |
Discontinued Operations | |||||
Disposal Group, Including Discontinued Operation, Assets | |||||
Disposal Group, Including Discontinued Operation, Cash And Invesments | 501,931 | 501,931 | 458,581 | ||
Disposal Group Including Discontinued Operations, Due From Reinsurers | 352,926 | 352,926 | 357,205 | ||
Disposal Group, Including Discontinued Operation, Goodwill, Noncurrent | 54,202 | 54,202 | 74,900 | ||
Disposal Group, Including Discontinued Operation, Other Assets | 86,324 | 86,324 | 55,887 | ||
Disposal Group, Including Discontinued Operation, Assets | 995,383 | 995,383 | 946,573 | ||
Disposal Group, Including Discontinued Operation, Liabilities | |||||
Disposal Group, Including Discontinued Operation, Policy Benefits And Claims | 174,655 | 174,655 | 179,232 | ||
Disposal Group Including Discontinued Operation, Future Policy Benefits | 195,184 | 195,184 | 198,086 | ||
Disposal Group Including Discontinued Operation, Funds On Deposit | 142,528 | 142,528 | 141,376 | ||
Disposal Group, Including Discontinued Operation,Unearned Premiums | 22,244 | 22,244 | 12,789 | ||
Disposal Group, Including Discontinued Operation, Other Liabilities | 66,642 | 66,642 | 51,168 | ||
Disposal Group, Including Discontinued Operation, Liabilities | 601,253 | 601,253 | 582,651 | ||
Disposal Group, Including Discontinued Operation, Revenue | 125,250 | 106,375 | 366,685 | 303,280 | |
Disposal Group, Including Discontinued Operation,Insurance Benefits, Claims And Reserves | 52,489 | 49,827 | 179,841 | 158,474 | |
Disposal Group, Including Discontinued Operation, General and Administrative Expense | 35,643 | 36,253 | 109,455 | 106,016 | |
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, before Income Tax | 37,118 | 20,295 | 77,389 | 38,790 | |
Discontinued Operation, Provision for Loss (Gain) on Disposal, before Income Tax | 209 | 0 | 1,021 | 0 | |
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | (526) | 0 | 74,008 | 0 | |
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax | 36,383 | 20,295 | 150,376 | 38,790 | |
Discontinued Operation, Tax Effect of Discontinued Operation | 7,512 | 4,218 | 27,567 | 8,836 | |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 28,871 | 16,077 | 122,809 | 29,954 | |
SSL Sale Member | Discontinued Operations | |||||
Disposal Group, Including Discontinued Operation, Assets | |||||
Disposal Group, Including Discontinued Operation, Cash And Invesments | 154,902 | 154,902 | 114,916 | ||
Disposal Group Including Discontinued Operations, Due From Reinsurers | 13,237 | 13,237 | 13,188 | ||
Disposal Group, Including Discontinued Operation, Goodwill, Noncurrent | 0 | 0 | 0 | ||
Disposal Group, Including Discontinued Operation, Other Assets | 36,431 | 36,431 | 19,015 | ||
Disposal Group, Including Discontinued Operation, Assets | 204,570 | 204,570 | 147,119 | ||
Disposal Group, Including Discontinued Operation, Liabilities | |||||
Disposal Group, Including Discontinued Operation, Policy Benefits And Claims | 43,576 | 43,576 | 39,296 | ||
Disposal Group Including Discontinued Operation, Future Policy Benefits | 20,650 | 20,650 | 21,236 | ||
Disposal Group Including Discontinued Operation, Funds On Deposit | 593 | 593 | 710 | ||
Disposal Group, Including Discontinued Operation,Unearned Premiums | 13,956 | 13,956 | 5,394 | ||
Disposal Group, Including Discontinued Operation, Other Liabilities | 19,656 | 19,656 | 10,382 | ||
Disposal Group, Including Discontinued Operation, Liabilities | 98,431 | 98,431 | 77,018 | ||
Disposal Group, Including Discontinued Operation, Revenue | 51,274 | 30,222 | 146,915 | 92,419 | |
Disposal Group, Including Discontinued Operation,Insurance Benefits, Claims And Reserves | 20,214 | 18,795 | 74,812 | 59,216 | |
Disposal Group, Including Discontinued Operation, General and Administrative Expense | 8,166 | 6,398 | 23,365 | 22,895 | |
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, before Income Tax | 22,894 | 5,029 | 48,738 | 10,308 | |
Discontinued Operation, Provision for Loss (Gain) on Disposal, before Income Tax | 59 | 0 | 461 | 0 | |
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | 0 | 0 | 0 | 0 | |
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax | 22,835 | 5,029 | 48,277 | 10,308 | |
Discontinued Operation, Tax Effect of Discontinued Operation | 4,721 | 1,031 | 10,046 | 2,488 | |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 18,114 | 3,998 | 38,231 | 7,820 | |
Pets Sale Member | Discontinued Operations | |||||
Disposal Group, Including Discontinued Operation, Assets | |||||
Disposal Group, Including Discontinued Operation, Cash And Invesments | 151,036 | 151,036 | 149,844 | ||
Disposal Group Including Discontinued Operations, Due From Reinsurers | 0 | 0 | 0 | ||
Disposal Group, Including Discontinued Operation, Goodwill, Noncurrent | 41,716 | 41,716 | 62,414 | ||
Disposal Group, Including Discontinued Operation, Other Assets | 16,663 | 16,663 | 22,389 | ||
Disposal Group, Including Discontinued Operation, Assets | 209,415 | 209,415 | 234,647 | ||
Disposal Group, Including Discontinued Operation, Liabilities | |||||
Disposal Group, Including Discontinued Operation, Policy Benefits And Claims | 13,727 | 13,727 | 11,775 | ||
Disposal Group Including Discontinued Operation, Future Policy Benefits | 0 | 0 | 0 | ||
Disposal Group Including Discontinued Operation, Funds On Deposit | 0 | 0 | 0 | ||
Disposal Group, Including Discontinued Operation,Unearned Premiums | 6,497 | 6,497 | 5,629 | ||
Disposal Group, Including Discontinued Operation, Other Liabilities | 2,508 | 2,508 | 8,012 | ||
Disposal Group, Including Discontinued Operation, Liabilities | 22,732 | 22,732 | 25,416 | ||
Disposal Group, Including Discontinued Operation, Revenue | 32,138 | 22,117 | 90,913 | 55,589 | |
Disposal Group, Including Discontinued Operation,Insurance Benefits, Claims And Reserves | 19,301 | 12,426 | 53,675 | 32,885 | |
Disposal Group, Including Discontinued Operation, General and Administrative Expense | 11,466 | 7,766 | 35,038 | 17,915 | |
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, before Income Tax | 1,371 | 1,925 | 2,200 | 4,789 | |
Discontinued Operation, Provision for Loss (Gain) on Disposal, before Income Tax | 86 | 0 | 480 | 0 | |
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | (526) | 0 | 74,008 | 0 | |
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax | 759 | 1,925 | 75,728 | 4,789 | |
Discontinued Operation, Tax Effect of Discontinued Operation | 103 | 402 | 11,982 | 1,143 | |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 656 | 1,523 | 63,746 | 3,646 | |
MNL Sale | Discontinued Operations | |||||
Disposal Group, Including Discontinued Operation, Assets | |||||
Disposal Group, Including Discontinued Operation, Cash And Invesments | 195,993 | 195,993 | 193,821 | ||
Disposal Group Including Discontinued Operations, Due From Reinsurers | 339,689 | 339,689 | 344,017 | ||
Disposal Group, Including Discontinued Operation, Goodwill, Noncurrent | 12,486 | 12,486 | 12,486 | ||
Disposal Group, Including Discontinued Operation, Other Assets | 33,230 | 33,230 | 14,483 | ||
Disposal Group, Including Discontinued Operation, Assets | 581,398 | 581,398 | 564,807 | ||
Disposal Group, Including Discontinued Operation, Liabilities | |||||
Disposal Group, Including Discontinued Operation, Policy Benefits And Claims | 117,352 | 117,352 | 128,161 | ||
Disposal Group Including Discontinued Operation, Future Policy Benefits | 174,534 | 174,534 | 176,850 | ||
Disposal Group Including Discontinued Operation, Funds On Deposit | 141,935 | 141,935 | 140,666 | ||
Disposal Group, Including Discontinued Operation,Unearned Premiums | 1,791 | 1,791 | 1,766 | ||
Disposal Group, Including Discontinued Operation, Other Liabilities | 44,478 | 44,478 | 32,774 | ||
Disposal Group, Including Discontinued Operation, Liabilities | 480,090 | 480,090 | $ 480,217 | ||
Disposal Group, Including Discontinued Operation, Revenue | 41,838 | 54,036 | 128,857 | 155,272 | |
Disposal Group, Including Discontinued Operation,Insurance Benefits, Claims And Reserves | 12,974 | 18,606 | 51,354 | 66,373 | |
Disposal Group, Including Discontinued Operation, General and Administrative Expense | 16,011 | 22,089 | 51,052 | 65,206 | |
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, before Income Tax | 12,853 | 13,341 | 26,451 | 23,693 | |
Discontinued Operation, Provision for Loss (Gain) on Disposal, before Income Tax | 64 | 0 | 80 | 0 | |
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | 0 | 0 | 0 | 0 | |
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax | 12,789 | 13,341 | 26,371 | 23,693 | |
Discontinued Operation, Tax Effect of Discontinued Operation | 2,688 | 2,785 | 5,539 | 5,205 | |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | $ 10,101 | $ 10,556 | $ 20,832 | $ 18,488 |
Earnings Per Share _Text Bloc_3
Earnings Per Share [Text Block]: Earnings Per Share, Schedule Of Net Income Attributable To Parent (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Details | ||||
Loss from continuing operations attributable to IHC | $ (11,512) | $ (7,340) | $ (23,514) | $ (16,391) |
Income from discontinued operations attributable to IHC | 28,871 | 16,028 | 122,965 | 29,778 |
Net Income (Loss) Attributable to Parent | $ 17,359 | $ 8,688 | $ 99,451 | $ 13,387 |
Cash and Cash Equivalents Dis_3
Cash and Cash Equivalents Disclosure: Schedule of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Dec. 31, 2019 |
Details | ||||
Cash and Cash Equivalents, at Carrying Value | $ 7,946 | $ 17,215 | $ 7,750 | |
Restricted Cash | 362 | 681 | ||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Disposal Group, Including Discontinued Operations | 10,215 | 15,622 | ||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | $ 18,523 | $ 74,793 | $ 24,053 | $ 24,631 |
Investments in Debt and Marke_6
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure: Debt Securities, Available-for-sale [Table Text Block] (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Debt Securities, Available-for-sale, Amortized Cost | $ 28,942 | $ 43,704 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 255 | 542 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 127 | 243 |
Debt Securities, Available-for-sale | 29,070 | 44,003 |
Corporate Debt Securities | ||
Debt Securities, Available-for-sale, Amortized Cost | 17,435 | 26,898 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 177 | 394 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 92 | 193 |
Debt Securities, Available-for-sale | 17,520 | 27,099 |
Collateralized Mortgage Backed Securities | ||
Debt Securities, Available-for-sale, Amortized Cost | 576 | 914 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 30 | 50 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Debt Securities, Available-for-sale | 606 | 964 |
US Treasury Securities | ||
Debt Securities, Available-for-sale, Amortized Cost | 4,814 | 4,958 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Debt Securities, Available-for-sale | 4,814 | 4,958 |
US Government Agencies Debt Securities | ||
Debt Securities, Available-for-sale, Amortized Cost | 33 | 39 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 4 | 5 |
Debt Securities, Available-for-sale | 29 | 34 |
US States and Political Subdivisions Debt Securities | ||
Debt Securities, Available-for-sale, Amortized Cost | 5,075 | 9,845 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 29 | 65 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 31 | 45 |
Debt Securities, Available-for-sale | 5,073 | 9,865 |
Debt Security, Government, Non-US | ||
Debt Securities, Available-for-sale, Amortized Cost | 1,009 | 1,050 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 19 | 33 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Debt Securities, Available-for-sale | $ 1,028 | $ 1,083 |
Investments in Debt and Marke_7
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure: Investments Classified by Contractual Maturity Date (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Details | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Amortized Cost | $ 1,111 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value | 1,111 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Amortized Cost | 13,840 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | 13,824 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Amortized Cost | 1,931 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value | 2,015 | |
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 10 | 11,451 | |
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | 11,485 | |
Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Amortized Cost | 609 | |
Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Fair Value | 635 | |
Debt Securities, Available-for-sale, Amortized Cost | 28,942 | $ 43,704 |
Debt Securities, Available-for-sale | $ 29,070 | $ 44,003 |
Investments in Debt and Marke_8
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure: Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value (Details) $ in Thousands | Sep. 30, 2021USD ($) | Dec. 31, 2020USD ($) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 430 | $ 15,301 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 12 | 115 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 11,815 | 5,577 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 115 | 128 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 12,245 | 20,878 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ 127 | $ 243 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions | 2 | 5 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | 2 | 2 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 4 | 7 |
Corporate Debt Securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 0 | $ 10,998 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 96 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 10,720 | 4,453 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 92 | 97 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 10,720 | 15,451 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 92 | 193 |
US Government Agencies Debt Securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 29 | 34 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 4 | 5 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 29 | 34 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 4 | 5 |
US States and Political Subdivisions Debt Securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 401 | 4,269 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 8 | 14 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 1,095 | 1,124 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 23 | 31 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 1,496 | 5,393 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ 31 | $ 45 |
Investments in Debt and Marke_9
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure: Realized Gain (Loss) on Investments (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Details | ||||
Debt Securities, Available-for-sale, Realized Gain (Loss), Excluding Other-than-temporary Impairment | $ (48) | $ (53) | $ 105 | $ 105 |
Debt and Equity Securities, Realized Gain (Loss), Excluding Other-than-temporary Impairment | (48) | (53) | 105 | 105 |
Gain (Loss) on Sale of Other Investments | 0 | 0 | 0 | 17 |
Gain (Loss) on Investments | $ (48) | $ (53) | $ 105 | $ 122 |
Investments in Debt and Mark_10
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Details | ||||
Available-for-sale Securities, Gross Realized Gains | $ 0 | $ 0 | $ 188 | $ 162 |
Available-for-sale Securities, Gross Realized Losses | $ 48 | $ 53 | 83 | 57 |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Available-for-sale Securities | $ 0 | $ 0 |
Fair Value Disclosures _Text _4
Fair Value Disclosures [Text Block]: Fair Value, Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Debt Securities, Available-for-sale | $ 29,070 | $ 44,003 |
Corporate Debt Securities | ||
Debt Securities, Available-for-sale | 17,520 | 27,099 |
Collateralized Mortgage Backed Securities | ||
Debt Securities, Available-for-sale | 606 | 964 |
US Treasury Securities | ||
Debt Securities, Available-for-sale | 4,814 | 4,958 |
US Government Agencies Debt Securities | ||
Debt Securities, Available-for-sale | 29 | 34 |
US States and Political Subdivisions Debt Securities | ||
Debt Securities, Available-for-sale | 5,073 | 9,865 |
Debt Security, Government, Non-US | ||
Debt Securities, Available-for-sale | 1,028 | 1,083 |
Fair Value, Recurring | ||
Debt Securities, Available-for-sale | 29,070 | 44,003 |
Assets, Fair Value Disclosure | 29,070 | 44,003 |
Fair Value, Recurring | Corporate Debt Securities | ||
Debt Securities, Available-for-sale | 17,520 | 27,099 |
Fair Value, Recurring | Collateralized Mortgage Backed Securities | ||
Debt Securities, Available-for-sale | 606 | 964 |
Fair Value, Recurring | US Treasury Securities | ||
Debt Securities, Available-for-sale | 4,814 | 4,958 |
Fair Value, Recurring | US Government Agencies Debt Securities | ||
Debt Securities, Available-for-sale | 29 | 34 |
Fair Value, Recurring | US States and Political Subdivisions Debt Securities | ||
Debt Securities, Available-for-sale | 5,073 | 9,865 |
Fair Value, Recurring | Debt Security, Government, Non-US | ||
Debt Securities, Available-for-sale | 1,028 | 1,083 |
Fair Value, Inputs, Level 1 | Fair Value, Recurring | ||
Debt Securities, Available-for-sale | 0 | 0 |
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 1 | Fair Value, Recurring | Corporate Debt Securities | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 | Fair Value, Recurring | Collateralized Mortgage Backed Securities | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 | Fair Value, Recurring | US Treasury Securities | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 | Fair Value, Recurring | US Government Agencies Debt Securities | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 | Fair Value, Recurring | US States and Political Subdivisions Debt Securities | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 | Fair Value, Recurring | Debt Security, Government, Non-US | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 2 | Fair Value, Recurring | ||
Debt Securities, Available-for-sale | 29,070 | 44,003 |
Assets, Fair Value Disclosure | 29,070 | 44,003 |
Fair Value, Inputs, Level 2 | Fair Value, Recurring | Corporate Debt Securities | ||
Debt Securities, Available-for-sale | 17,520 | 27,099 |
Fair Value, Inputs, Level 2 | Fair Value, Recurring | Collateralized Mortgage Backed Securities | ||
Debt Securities, Available-for-sale | 606 | 964 |
Fair Value, Inputs, Level 2 | Fair Value, Recurring | US Treasury Securities | ||
Debt Securities, Available-for-sale | 4,814 | 4,958 |
Fair Value, Inputs, Level 2 | Fair Value, Recurring | US Government Agencies Debt Securities | ||
Debt Securities, Available-for-sale | 29 | 34 |
Fair Value, Inputs, Level 2 | Fair Value, Recurring | US States and Political Subdivisions Debt Securities | ||
Debt Securities, Available-for-sale | 5,073 | 9,865 |
Fair Value, Inputs, Level 2 | Fair Value, Recurring | Debt Security, Government, Non-US | ||
Debt Securities, Available-for-sale | 1,028 | 1,083 |
Fair Value, Inputs, Level 3 | Fair Value, Recurring | ||
Debt Securities, Available-for-sale | 0 | 0 |
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 3 | Fair Value, Recurring | Corporate Debt Securities | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 3 | Fair Value, Recurring | Collateralized Mortgage Backed Securities | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 3 | Fair Value, Recurring | US Treasury Securities | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 3 | Fair Value, Recurring | US Government Agencies Debt Securities | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 3 | Fair Value, Recurring | US States and Political Subdivisions Debt Securities | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 3 | Fair Value, Recurring | Debt Security, Government, Non-US | ||
Debt Securities, Available-for-sale | $ 0 | $ 0 |
Fair Value Disclosures _Text _5
Fair Value Disclosures [Text Block]: Fair Value, by Balance Sheet Grouping (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Securities Purchased under Agreements to Resell | $ 25,458 | $ 23,962 |
Estimate of Fair Value Measurement | Fair Value, Inputs, Level 1 | ||
Securities Purchased under Agreements to Resell | 25,458 | 23,962 |
Estimate of Fair Value Measurement | Fair Value, Inputs, Level 2 | ||
Securities Purchased under Agreements to Resell | 0 | 0 |
Reported Value Measurement | ||
Securities Purchased under Agreements to Resell | $ 25,458 | $ 23,962 |
Variable Interest Entity Disc_2
Variable Interest Entity Disclosure [Text Block] (Details) $ in Thousands | Sep. 30, 2021USD ($) |
Other Investments | |
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | $ 2,050 |
Related Party Transactions Di_2
Related Party Transactions Disclosure [Text Block] (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Ebix Health Exchange Member | |||||
Due to Related Parties | $ 85 | $ 85 | $ 163 | ||
Related Party Transaction, Selling, General and Administrative Expenses from Transactions with Related Party | $ 349 | $ 407 | $ 1,111 | $ 1,306 | |
Lead Generation Company Member | Selling, General and Administrative Expenses | |||||
Related Party Transaction, Selling, General and Administrative Expenses from Transactions with Related Party | $ 1,507 |
Business Combination Disclosu_3
Business Combination Disclosure (Details) - USD ($) $ in Thousands | Apr. 30, 2020 | Apr. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 |
Revenues | $ 6,513 | $ 6,845 | $ 22,486 | $ 21,242 | ||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 17,359 | $ 8,732 | $ 99,293 | 13,592 | ||
Torchlight Technology Group Acquisition Member | ||||||
Business Acquisition, Percentage of Voting Interests Acquired | 77.00% | 77.00% | ||||
Payments to Acquire Businesses, Gross | $ 11,443 | |||||
Business Combination, Consideration Transferred, Liabilities Incurred | 185 | |||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value | $ 3,432 | |||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain | 519 | |||||
Goodwill, Acquired During Period | 11,122 | |||||
Business Acquisition, Goodwill, Expected Tax Deductible Amount | 7,976 | 7,976 | ||||
Finite-lived Intangible Assets Acquired | 2,700 | |||||
Business Combination, Consideration Transferred | 11,628 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | $ 3,938 | $ 3,938 | ||||
Revenues | 3,920 | |||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ (1,815) |
Business Combination Disclosu_4
Business Combination Disclosure: Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - Torchlight Technology Group Acquisition Member $ in Thousands | Apr. 30, 2020USD ($) |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | $ 333 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 2,700 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other | 2,132 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 5,165 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other | 1,227 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 1,227 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | $ 3,938 |
Intangible Assets Disclosure _3
Intangible Assets Disclosure [Text Block] (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Details | |||||
Intangible Assets, Net (Excluding Goodwill) | $ 3,012 | $ 3,012 | $ 3,531 | ||
Amortization of Intangible Assets | $ 178 | $ 162 | $ 519 | $ 386 |
Intangible Assets Disclosure _4
Intangible Assets Disclosure [Text Block]: Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Finite-Lived Intangible Assets, Gross | $ 8,083 | $ 9,083 |
Finite-Lived Intangible Assets, Accumulated Amortization | 5,071 | 5,552 |
Customer Relationships | ||
Finite-Lived Intangible Assets, Gross | 6,583 | 7,583 |
Finite-Lived Intangible Assets, Accumulated Amortization | 4,707 | 5,385 |
Computer Software, Intangible Asset | ||
Finite-Lived Intangible Assets, Gross | 1,500 | 1,500 |
Finite-Lived Intangible Assets, Accumulated Amortization | $ 364 | $ 167 |
Revenue from Contract with Cu_4
Revenue from Contract with Customer: Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Insurance Commissions and Fees | $ 5,569 | $ 6,113 | $ 20,291 | $ 18,465 |
Commissions | ||||
Insurance Commissions and Fees | 1,372 | 1,684 | 5,662 | 5,346 |
Commissions From Affiliates | ||||
Insurance Commissions and Fees | 1,820 | 2,410 | 5,572 | 7,602 |
Administrative Fees | ||||
Insurance Commissions and Fees | 0 | 0 | 0 | 875 |
Marketing Fees | ||||
Insurance Commissions and Fees | 198 | 290 | 757 | 933 |
Enrollment Platform Fees | ||||
Insurance Commissions and Fees | 454 | 502 | 1,539 | 1,476 |
Lead and Referral Fees | ||||
Insurance Commissions and Fees | 1,681 | 1,111 | 6,627 | 1,964 |
Payment Plan, Application and Other Fees | ||||
Insurance Commissions and Fees | $ 44 | $ 116 | $ 134 | $ 269 |
Revenue from Contract with Cu_5
Revenue from Contract with Customer (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Accounts Payable and Accrued Liabilities | ||
Accrued Sales Commission, Estimated Expected Lifetime Commissions | $ 2,750 | $ 2,362 |
Revenue from Contract with Cu_6
Revenue from Contract with Customer: Contract with Customer, Contract Asset, Contract Liability, and Receivable (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2021USD ($) | |
Details | |
Contract with Customer, Asset, after Allowance for Credit Loss | $ 7,760 |
Contract with Customer, Asset, Increase (Decrease) for Revenues Recognized During the Year | 6,950 |
Contract With Customer Asset Increase (Decrease) For Revenue Recognized From Prior Periods | (1,295) |
Contract with Customer, Asset, Decrease for Cash Received During the Year | (5,291) |
Contract with Customer, Asset, after Allowance for Credit Loss | $ 8,124 |
Income Tax Disclosure _Text B_2
Income Tax Disclosure [Text Block] (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | $ (74,008) | $ 0 | |||
Discontinued Operations | |||||
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | $ (526) | $ 0 | 74,008 | $ 0 | |
Discontinued Operation, Tax Effect of Gain (Loss) from Disposal of Discontinued Operation | 11,675 | ||||
Pets Sale, PetPartners Transaction | Discontinued Operations | |||||
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | 74,008 | ||||
AMICSubsidiariesMember | |||||
Operating Loss Carryforwards | $ 46,116 | ||||
Deferred Tax Assets, Valuation Allowance | 8,281 | ||||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 8,281 | ||||
AMICSubsidiariesMember | Pets Sale, PetPartners Transaction | |||||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 8,281 | ||||
AMIC Holdiings | Domestic Tax Authority | |||||
Operating Loss Carryforwards | $ 46,116 |
Stockholders' Equity Note Dis_4
Stockholders' Equity Note Disclosure [Text Block]: Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Accumulated other comprehensive income (loss) | $ 4,197 | |||
Other Comprehensive Income (Loss), Net of Tax | $ (900) | $ 1,064 | (1,877) | $ 2,706 |
Accumulated other comprehensive income (loss) | 2,320 | 2,320 | ||
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | ||||
Accumulated other comprehensive income (loss) | 3,220 | 2,854 | 4,197 | 1,212 |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | (999) | 873 | (2,012) | 3,417 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (99) | (191) | (135) | 711 |
Other Comprehensive Income (Loss), Net of Tax | (900) | 1,064 | (1,877) | 2,706 |
Accumulated other comprehensive income (loss) | $ 2,320 | $ 3,918 | $ 2,320 | $ 3,918 |
Stockholders' Equity Note Dis_5
Stockholders' Equity Note Disclosure [Text Block]: Reclassification out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Gain (Loss) on Investments | $ (48) | $ (53) | $ 105 | $ 122 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | (15,079) | (9,586) | (30,542) | (21,979) |
Income Tax Expense (Benefit) | (3,567) | (2,241) | (7,026) | (5,617) |
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | (11,512) | (7,345) | (23,516) | (16,362) |
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax | 36,383 | 20,295 | 150,376 | 38,790 |
Discontinued Operation, Tax Effect of Discontinued Operation | 7,512 | 4,218 | 27,567 | 8,836 |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 28,871 | 16,077 | 122,809 | 29,954 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 17,359 | 8,732 | 99,293 | 13,592 |
Reclassification out of Accumulated Other Comprehensive Income | AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | ||||
Gain (Loss) on Investments | (48) | (53) | 106 | 105 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | (48) | (53) | 106 | 105 |
Income Tax Expense (Benefit) | (11) | (10) | 20 | 23 |
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | (37) | (43) | 86 | 82 |
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax | (79) | (188) | (280) | 796 |
Discontinued Operation, Tax Effect of Discontinued Operation | (17) | (40) | (59) | 167 |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | (62) | (148) | (221) | 629 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ (99) | $ (191) | $ (135) | $ 711 |
Cash Flow, Supplemental Discl_2
Cash Flow, Supplemental Disclosures [Text Block] (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Details | ||
Income Taxes Paid (Refunds), Net | $ 10,131 | $ 436 |
Commitments and Contingencies_2
Commitments and Contingencies Disclosure [Text Block] (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | ||
Oct. 31, 2020 | Sep. 30, 2020 | May 31, 2017 | Sep. 30, 2020 | |
Accounts Payable and Accrued Liabilities | ||||
Loss Contingency Accrual, Provision | $ 3,660 | |||
Discontinued Operations | Accounts Payable and Accrued Liabilities | ||||
Loss Contingency Accrual, Payments | $ 3,660 | |||
Discontinued Operations | Other Income | ||||
Gain (Loss) Related to Litigation Settlement | $ 5,641 | |||
Pending Litigation | Loss Contingency, Nature, Amounts Allegedly Owed To Plaintiff Member | Discontinued Operations | ||||
Loss Contingency, Damages Sought, Value | $ 3,082 |
Segment Reporting Disclosure _3
Segment Reporting Disclosure [Text Block]: Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Revenues | $ 6,513 | $ 6,845 | $ 22,486 | $ 21,242 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | (15,079) | (9,586) | (30,542) | (21,979) |
Operating Segments | ||||
Revenues | 6,561 | 6,898 | 22,381 | 21,120 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | (15,031) | (9,533) | (30,647) | (22,101) |
Segment Reconciling Items | Gain (Loss) on Investments | ||||
Revenues | (48) | (53) | 105 | 122 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | (48) | (53) | 105 | 122 |
Specialty Health Segment Member | ||||
Revenues | 5,520 | 6,749 | 20,204 | 19,188 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | (7,022) | (6,969) | (17,921) | (16,579) |
Group Disability And Life Member | ||||
Revenues | 0 | 0 | 0 | 0 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 0 | 0 | 0 | 0 |
Individual life annuities and other Segment Member | ||||
Revenues | 0 | 0 | 0 | 0 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 0 | 0 | 0 | 0 |
Corporate Segment | ||||
Revenues | 1,041 | 149 | 2,177 | 1,932 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | $ (8,009) | $ (2,564) | $ (12,726) | $ (5,522) |