Atlantic American (AAME) 10-Q 12 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 05, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	ATLANTIC AMERICAN CORP
Entity Central Index Key	8,177
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		20,475,349
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
ASSETS
Cash and cash equivalents	$ 13,968	$ 15,622
Investments:
Fixed maturities (cost: $202,928 and $210,450)	208,833	205,324
Common and non-redeemable preferred stocks (cost: $11,453 and $10,953)	20,428	23,131
Other invested assets (cost: $5,777 and $6,454)	5,777	6,454
Policy loans	2,179	2,200
Real estate	38	38
Investment in unconsolidated trusts	1,238	1,238
Total investments	238,493	238,385
Receivables:
Reinsurance	8,618	11,759
Insurance premiums and other (net of allowance for doubtful accounts: $521 and $528)	23,023	11,988
Deferred income taxes, net	0	829
Deferred acquisition costs	28,199	27,866
Other assets	5,420	5,610
Intangibles	2,544	2,544
Total assets	320,265	314,603
LIABILITIES AND SHAREHOLDERS' EQUITY
Future policy benefits	73,083	72,136
Unearned premiums	31,137	25,348
Losses and claims	57,669	63,870
Other policy liabilities	1,456	1,991
Total insurance reserves and policyholder funds	163,345	163,345
Accounts payable and accrued expenses	13,218	15,028
Deferred income taxes, net	1,915	0
Junior subordinated debenture obligations, net	33,738	33,738
Total liabilities	212,216	212,111
Commitments and contingencies (Note 7)
Shareholders' equity:
Preferred stock, $1 par, 4,000,000 shares authorized; Series D preferred, 55,000 shares issued and outstanding; $5,500 redemption value	55	55
Common stock, $1 par, 50,000,000 shares authorized; shares issued: 22,400,894;shares outstanding: 20,478,812 and 20,426,536	22,401	22,401
Additional paid-in capital	57,039	56,623
Retained earnings	25,975	25,443
Accumulated other comprehensive income	9,672	4,584
Unearned stock grant compensation	(546)	(273)
Treasury stock, at cost: 1,922,082 and 1,974,358 shares	(6,547)	(6,341)
Total shareholders' equity	108,049	102,492
Total liabilities and shareholders' equity	$ 320,265	$ 314,603

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Investments:
Fixed maturities, cost	$ 202,928	$ 210,450
Common and non-redeemable preferred stocks, cost	11,453	10,953
Other invested assets, cost	5,777	6,454
Receivables:
Insurance premiums and other, allowance for doubtful accounts	$ 521	$ 528
Shareholders' equity:
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	4,000,000	4,000,000
Preferred stock, shares issued (in shares)	55,000	55,000
Preferred stock, shares outstanding (in shares)	55,000	55,000
Preferred stock, redemption value	$ 5,500	$ 5,500
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	22,400,894	22,400,894
Common stock, shares outstanding (in shares)	20,478,812	20,426,536
Treasury stock, at cost (in shares)	1,922,082	1,974,358

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenue:
Insurance premiums	$ 39,122	$ 38,104	$ 77,580	$ 75,490
Investment income	2,563	2,494	5,070	5,091
Realized investment gains, net	132	4,148	884	5,099
Other income	37	26	67	41
Total revenue	41,854	44,772	83,601	85,721
Benefits and expenses:
Insurance benefits and losses incurred	26,922	26,383	51,747	51,624
Commissions and underwriting expenses	10,954	10,487	22,781	21,208
Interest expense	385	354	758	703
Other expense	3,236	3,359	6,582	6,987
Total benefits and expenses	41,497	40,583	81,868	80,522
Income before income taxes	357	4,189	1,733	5,199
Income tax expense	116	844	594	1,163
Net income	241	3,345	1,139	4,036
Preferred stock dividends	(100)	(100)	(199)	(199)
Net income applicable to common shareholders	$ 141	$ 3,245	$ 940	$ 3,837
Earnings per common share (basic) (in dollars per share)	$ 0.01	$ 0.16	$ 0.05	$ 0.19
Earnings per common share (diluted) (in dollars per share)	$ 0.01	$ 0.15	$ 0.05	$ 0.18

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) [Abstract]
Net income		$ 241	$ 3,345	$ 1,139	$ 4,036
Available-for-sale securities:
Gross unrealized holding gain (loss) arising in the period		6,456	(3,766)	8,712	1,955
Related income tax effect		(2,259)	1,318	(3,049)	(685)
Less: reclassification adjustment for net realized gains included in net income	[1]	(132)	(4,148)	(884)	(5,099)
Related income tax effect	[2]	46	1,452	309	1,785
Total other comprehensive income (loss), net of tax		4,111	(5,144)	5,088	(2,044)
Total comprehensive income (loss)		$ 4,352	$ (1,799)	$ 6,227	$ 1,992
[1]	Realized gains on available-for-sale securities recognized in realized investment gains, net on the accompanying condensed consolidated statements of operations.
[2]	Income tax effect on reclassification adjustment for net realized gains included in income tax expense on the accompanying condensed consolidated statements of operations.

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income [Member]	Unearned Stock Grant Compensation [Member]	Treasury Stock [Member]	Total
Beginning Balance at Dec. 31, 2014	$ 55	$ 22,401	$ 56,491	$ 21,866	$ 9,279	$ (460)	$ (5,437)	$ 104,195
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	0	0	0	4,036	0	0	0	4,036
Other comprehensive income, net of tax	0	0	0	0	(2,044)	0	0	(2,044)
Dividends on common stock	0	0	0	(412)	0	0	0	(412)
Dividends accrued on preferred stock	0	0	0	(199)	0	0	0	(199)
Restricted stock grants	0	0	106	0	0	(184)	78	0
Amortization of unearned compensation	0	0	0	0	0	130	0	130
Purchase of shares for treasury	0	0	0	0	0	0	(191)	(191)
Issuance of shares under stock plans	0	0	16	0	0	0	11	27
Ending Balance at Jun. 30, 2015	55	22,401	56,613	25,291	7,235	(514)	(5,539)	105,542
Beginning Balance at Dec. 31, 2015	55	22,401	56,623	25,443	4,584	(273)	(6,341)	102,492
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	0	0	0	1,139	0	0	0	1,139
Other comprehensive income, net of tax	0	0	0	0	5,088	0	0	5,088
Dividends on common stock	0	0	0	(408)	0	0	0	(408)
Dividends accrued on preferred stock	0	0	0	(199)	0	0	0	(199)
Restricted stock grants	0	0	398	0	0	(639)	241	0
Amortization of unearned compensation	0	0	0	0	0	366	0	366
Purchase of shares for treasury	0	0	0	0	0	0	(458)	(458)
Issuance of shares under stock plans	0	0	18	0	0	0	11	29
Ending Balance at Jun. 30, 2016	$ 55	$ 22,401	$ 57,039	$ 25,975	$ 9,672	$ (546)	$ (6,547)	$ 108,049

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 1,139	$ 4,036
Adjustments to reconcile net income to net cash used in operating activities:
Amortization of deferred acquisition costs	4,744	5,352
Acquisition costs deferred	(5,077)	(5,818)
Realized investment gains, net	(884)	(5,099)
Increase in insurance reserves	0	5,481
Compensation expense related to share awards	366	130
Depreciation and amortization	577	567
Deferred income tax expense	4	44
Increase in receivables, net	(6,892)	(6,871)
(Decrease) increase in other liabilities	(2,009)	290
Other, net	19	(31)
Net cash used in operating activities	(8,013)	(1,919)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from investments sold	24,313	72,172
Proceeds from investments matured, called or redeemed	7,678	1,424
Investments purchased	(24,522)	(54,374)
Additions to property and equipment	(273)	(175)
Net cash provided by investing activities	7,196	19,047
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of dividends on common stock	(408)	(412)
Proceeds from shares issued under stock plans	29	27
Purchase of shares for treasury	(458)	(191)
Net cash used in financing activities	(837)	(576)
Net (decrease) increase in cash and cash equivalents	(1,654)	16,552
Cash and cash equivalents at beginning of period	15,622	16,375
Cash and cash equivalents at end of period	13,968	32,927
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest	751	703
Cash paid for income taxes	$ 300	$ 465

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2016
Basis of Presentation [Abstract]
Basis of Presentation	Note 1. Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of Atlantic American Corporation (the “Parent”) and its subsidiaries (collectively with the Parent, the “Company”). All significant intercompany accounts and transactions have been eliminated in consolidation. The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for audited annual financial statements. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation have been included. The unaudited condensed consolidated financial statements included herein and these related notes should be read in conjunction with the Company’s consolidated financial statements, and the notes thereto, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. The Company’s financial condition and results of operations as of and for the three month and six month periods ended June 30, 2016 are not necessarily indicative of the financial condition or results of operations that may be expected for the year ending December 31, 2016 or for any other future period. The Company’s significant accounting policies have not changed materially from those set out in the Company’s 2015 Annual Report. The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates.

Recently Issued Accounting Stan

Recently Issued Accounting Standards	6 Months Ended
	Jun. 30, 2016
Recently Issued Accounting Standards [Abstract]
Recently Issued Accounting Standards	Note 2. Recently Issued Accounting Standards In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In March 2016, the FASB issued ASU No. 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting Share-Based Payment In March 2016, the FASB issued ASU No. 2016-07, Investments – Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments – Overall (Subtopic 825-10) In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date. Revenue from Contracts with Customers (Topic 606) periods beginning after December 15, 2016. In May 2015, the FASB issued ASU No. 2015-09, Financial Services – Insurance (Topic 944): Disclosures about Short-Duration Contracts

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2016
Segment Information [Abstract]
Segment Information	Note 3. Segment Information The Company’s primary operating subsidiaries, American Southern Insurance Company and American Safety Insurance Company (together known as “American Southern”) and Bankers Fidelity Life Insurance Company and Bankers Fidelity Assurance Company (together known as “Bankers Fidelity”) operate in two principal business units, each focusing on specific products. American Southern operates in the property and casualty insurance market, while Bankers Fidelity operates in the life and health insurance market. Each business unit is managed independently and is evaluated on its individual performance. The following sets forth the revenue and income before income taxes for each business unit for the three month and six month periods ended June 30, 2016 and 2015. Revenue Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 American Southern $ 14,820 $ 15,664 $ 29,631 $ 30,436 Bankers Fidelity 26,883 28,820 53,722 54,890 Corporate and Other 151 288 248 395 Total revenue $ 41,854 $ 44,772 $ 83,601 $ 85,721 Income Before Income Taxes Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 American Southern $ 1,885 $ 1,824 $ 4,116 $ 3,673 Bankers Fidelity (51 ) 3,900 947 5,090 Corporate and Other (1,477 ) (1,535 ) (3,330 ) (3,564 ) Income before income taxes $ 357 $ 4,189 $ 1,733 $ 5,199

Junior Subordinated Debentures

Junior Subordinated Debentures	6 Months Ended
	Jun. 30, 2016
Junior Subordinated Debentures [Abstract]
Junior Subordinated Debentures	Note 4. Junior Subordinated Debentures The Company has two unconsolidated Connecticut statutory business trusts, which exist for the exclusive purposes of: (i) issuing trust preferred securities (“Trust Preferred Securities”) representing undivided beneficial interests in the assets of the trusts; (ii) investing the gross proceeds of the Trust Preferred Securities in junior subordinated deferrable interest debentures (“Junior Subordinated Debentures”) of Atlantic American; and (iii) engaging in those activities necessary or incidental thereto. The financial structure of each of Atlantic American Statutory Trust I and II as of June 30, 2016 was as follows: Atlantic American Statutory Trust I Atlantic American Statutory Trust II JUNIOR SUBORDINATED DEBENTURES (1) (2) Principal amount owed $ 18,042 $ 23,196 Balance June 30, 2016 $ 18,042 $ 23,196 Less: Treasury debt (3) - (7,500 ) Net balance June 30, 2016 $ 18,042 $ 15,696 Net balance December 31, 2015 $ 18,042 $ 15,696 Coupon rate LIBOR + 4.00% LIBOR + 4.10% Interest payable Quarterly Quarterly Maturity date December 4, 2032 May 15, 2033 Redeemable by issuer Yes Yes TRUST PREFERRED SECURITIES Issuance date December 4, 2002 May 15, 2003 Securities issued 17,500 22,500 Liquidation preference per security $ 1 $ 1 Liquidation value $ 17,500 $ 22,500 Coupon rate LIBOR + 4.00% LIBOR + 4.10% Distribution payable Quarterly Quarterly Distribution guaranteed by (4) Atlantic American Corporation Atlantic American Corporation (1) For each of the respective debentures, the Company has the right at any time, and from time to time, to defer payments of interest on the Junior Subordinated Debentures for a period not exceeding 20 consecutive quarters up to the debentures’ respective maturity dates. During any such period, interest will continue to accrue and the Company may not declare or pay any cash dividends or distributions on, or purchase, the Company’s common stock nor make any principal, interest or premium payments on or repurchase any debt securities that rank equally with or junior to the Junior Subordinated Debentures. The Company has the right at any time to dissolve each of the trusts and cause the Junior Subordinated Debentures to be distributed to the holders of the Trust Preferred Securities. (2) The Junior Subordinated Debentures are unsecured and rank junior and subordinate in right of payment to all senior debt of the Parent and are effectively subordinated to all existing and future liabilities of its subsidiaries. (3) On August 4, 2014, the Company acquired $7,500 of the Junior Subordinated Debentures. (4) The Parent has guaranteed, on a subordinated basis, all of the obligations under the Trust Preferred Securities, including payment of the redemption price and any accumulated and unpaid distributions to the extent of available funds and upon dissolution, winding up or liquidation.

Earnings Per Common Share

Earnings Per Common Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Common Share [Abstract]
Earnings Per Common Share	Note 5. Earnings Per Common Share A reconciliation of the numerator and denominator used in the earnings per common share calculations is as follows: Three Months Ended June 30, 2016 Income Shares (In thousands) Per Share Amount Basic and Diluted Earnings Per Common Share: Net income $ 241 20,454 Less preferred stock dividends (100 ) - Net income applicable to common shareholders $ 141 20,454 $ .01 Three Months Ended June 30, 2015 Income Shares (In thousands) Per Share Amount Basic Earnings Per Common Share: Net income $ 3,345 20,573 Less preferred stock dividends (100 ) - Net income applicable to common shareholders 3,245 20,573 $ .16 Diluted Earnings Per Common Share: Effect of Series D preferred stock 100 1,378 Net income applicable to common shareholders $ 3,345 21,951 $ .15 Six Months Ended June 30, 2016 Income Shares (In thousands) Per Share Amount Basic and Diluted Earnings Per Common Share: Net income $ 1,139 20,430 Less preferred stock dividends (199 ) - Net income applicable to common shareholders $ 940 20,430 $ .05 Six Months Ended June 30, 2015 Income Shares (In thousands) Per Share Amount Basic Earnings Per Common Share: Net income $ 4,036 20,582 Less preferred stock dividends (199 ) - Net income applicable to common shareholders 3,837 20,582 $ .19 Diluted Earnings Per Common Share: Effect of Series D preferred stock 199 1,378 Net income applicable to common shareholders $ 4,036 21,960 $ .18 The assumed conversion of the Company’s Series D preferred stock was excluded from the earnings per common share calculation for the three month and six month periods ended June 30, 2016 since its impact would have been antidilutive.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Taxes [Abstract]
Income Taxes	Note 6. Income Taxes A reconciliation of the differences between income taxes computed at the federal statutory income tax rate and income tax expense is as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Federal income tax provision at statutory rate of 35% $ 125 $ 1,466 $ 607 $ 1,820 Dividends-received deduction (24 ) (27 ) (46 ) (54 ) Small life insurance company deduction - (605 ) - (623 ) Other permanent differences 15 10 33 20 Income tax expense $ 116 $ 844 $ 594 $ 1,163 The components of income tax expense were: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Current - Federal $ 590 $ 1,108 $ 590 $ 1,119 Deferred - Federal (474 ) (264 ) 4 44 Total $ 116 $ 844 $ 594 $ 1,163 The primary difference between the effective tax rate and the federal statutory income tax rate for the three month and six month periods ended June 30, 2016 resulted from the dividends-received deduction (“DRD”). The current estimated DRD is adjusted as underlying factors change and can vary from estimates based on, but not limited to, actual distributions from investments as well as the amount of the Company’s taxable income. The primary differences between the effective tax rate and the federal statutory income tax rate for the three month and six month periods ended June 30, 2015 resulted from the DRD and the small life insurance company deduction (“SLD”). The SLD varies in amount and is determined at a rate of 60 percent of the tentative life insurance company taxable income (“LICTI”). The SLD for any taxable year is reduced (but not below zero) by 15 percent of the tentative LICTI for such taxable year as it exceeds $3,000 and is ultimately phased out at $15,000.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note 7. Commitments and Contingencies From time to time, the Company is, and expects to continue to be, involved in various claims and lawsuits incidental to and in the ordinary course of its businesses. In the opinion of management, any such known claims are not expected to have a material effect on the financial condition or results of operations of the Company.

Investments

Investments	6 Months Ended
	Jun. 30, 2016
Investments [Abstract]
Investments	Note 8. Investments The following tables set forth the carrying value, gross unrealized gains, gross unrealized losses and amortized cost of the Company’s investments, aggregated by type and industry, as of June 30, 2016 and December 31, 2015. Investments were comprised of the following: June 30, 2016 Carrying Value Gross Unrealized Gains Gross Unrealized Losses Amortized Cost Fixed maturities: Bonds: U.S. Treasury securities and obligations of U.S. Government agencies and authorities $ 16,040 $ 519 $ 1 $ 15,522 Obligations of states and political subdivisions 18,446 1,182 - 17,264 Corporate securities: Utilities and telecom 20,527 2,184 182 18,525 Financial services 56,392 3,018 950 54,324 Other business – diversified 66,368 2,564 3,016 66,820 Other consumer – diversified 30,613 1,189 606 30,030 Total corporate securities 173,900 8,955 4,754 169,699 Redeemable preferred stocks: Financial services 254 4 - 250 Other consumer – diversified 193 - - 193 Total redeemable preferred stocks 447 4 - 443 Total fixed maturities 208,833 10,660 4,755 202,928 Equity securities: Common and non-redeemable preferred stocks: Utilities and telecom 1,675 711 - 964 Financial services 5,736 908 - 4,828 Other business – diversified 217 170 - 47 Other consumer – diversified 12,800 7,186 - 5,614 Total equity securities 20,428 8,975 - 11,453 Other invested assets 5,777 - - 5,777 Policy loans 2,179 - - 2,179 Real estate 38 - - 38 Investments in unconsolidated trusts 1,238 - - 1,238 Total investments $ 238,493 $ 19,635 $ 4,755 $ 223,613 December 31, 2015 Carrying Value Gross Unrealized Gains Gross Unrealized Losses Amortized Cost Fixed maturities: Bonds: U.S. Treasury securities and obligations of U.S. Government agencies and authorities $ 22,234 $ 290 $ 175 $ 22,119 Obligations of states and political subdivisions 25,479 621 552 25,410 Corporate securities: Utilities and telecom 17,589 1,357 692 16,924 Financial services 54,035 1,797 1,351 53,589 Other business – diversified 60,960 729 5,898 66,129 Other consumer – diversified 24,581 136 1,391 25,836 Total corporate securities 157,165 4,019 9,332 162,478 Redeemable preferred stocks: Financial services 253 3 - 250 Other consumer – diversified 193 - - 193 Total redeemable preferred stocks 446 3 - 443 Total fixed maturities 205,324 4,933 10,059 210,450 Equity securities: Common and non-redeemable preferred stocks: Utilities and telecom 1,386 422 - 964 Financial services 5,175 847 - 4,328 Other business – diversified 198 151 - 47 Other consumer – diversified 16,372 10,758 - 5,614 Total equity securities 23,131 12,178 - 10,953 Other invested assets 6,454 - - 6,454 Policy loans 2,200 - - 2,200 Real estate 38 - - 38 Investments in unconsolidated trusts 1,238 - - 1,238 Total investments $ 238,385 $ 17,111 $ 10,059 $ 231,333 Bonds having an amortized cost of $11,151 and $11,259 and included in the tables above were on deposit with insurance regulatory authorities at June 30, 2016 and December 31, 2015, respectively, in accordance with statutory requirements. The carrying value and amortized cost of the Company’s investments in fixed maturities at June 30, 2016 and December 31, 2015 by contractual maturity were as follows. Actual maturities may differ from contractual maturities because issuers may call or prepay obligations with or without call or prepayment penalties. June 30, 2016 December 31, 2015 Carrying Value Amortized Cost Carrying Value Amortized Cost Due in one year or less $ 2,659 $ 2,648 $ 4,143 $ 4,113 Due after one year through five years 21,768 21,407 20,557 20,591 Due after five years through ten years 108,477 105,847 99,614 103,066 Due after ten years 74,755 72,030 79,882 81,684 Varying maturities 1,174 996 1,128 996 Totals $ 208,833 $ 202,928 $ 205,324 $ 210,450 The following table sets forth the carrying value, amortized cost, and net unrealized gains (losses) of the Company’s investments aggregated by industry as of June 30, 2016 and December 31, 2015. June 30, 2016 December 31, 2015 Carrying Value Amortized Cost Unrealized Gains (Losses) Carrying Value Amortized Cost Unrealized Gains (Losses) U.S. Treasury securities and obligations of U.S. Government agencies and authorities $ 16,040 $ 15,522 $ 518 $ 22,234 $ 22,119 $ 115 Obligations of states and political subdivisions 18,446 17,264 1,182 25,479 25,410 69 Utilities and telecom 22,202 19,489 2,713 18,975 17,888 1,087 Financial services 62,382 59,402 2,980 59,463 58,167 1,296 Other business – diversified 66,585 66,867 (282 ) 61,158 66,176 (5,018 ) Other consumer – diversified 43,606 35,837 7,769 41,146 31,643 9,503 Other investments 9,232 9,232 - 9,930 9,930 - Investments $ 238,493 $ 223,613 $ 14,880 $ 238,385 $ 231,333 $ 7,052 The following tables present the Company’s unrealized loss aging for securities by type and length of time the security was in a continuous unrealized loss position as of June 30, 2016 and December 31, 2015. June 30, 2016 Less than 12 months 12 months or longer Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Treasury securities and obligations of U.S. Government agencies and authorities $ 2,020 $ 1 $ - $ - $ 2,020 $ 1 Corporate securities 14,804 287 32,997 4,467 47,801 4,754 Total temporarily impaired securities $ 16,824 $ 288 $ 32,997 $ 4,467 $ 49,821 $ 4,755 December 31, 2015 Less than 12 months 12 months or longer Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Treasury securities and obligations of U.S. Government agencies and authorities $ 9,209 $ 120 $ 2,243 $ 55 $ 11,452 $ 175 Obligations of states and political subdivisions 16,079 552 - - 16,079 552 Corporate securities 79,482 4,284 16,131 5,048 95,613 9,332 Total temporarily impaired securities $ 104,770 $ 4,956 $ 18,374 $ 5,103 $ 123,144 $ 10,059 The evaluation for an other than temporary impairment is a quantitative and qualitative process, which is subject to risks and uncertainties in the determination of whether declines in the fair value of investments are other than temporary. Potential risks and uncertainties include, among other things, changes in general economic conditions, an issuer’s financial condition or near term recovery prospects and the effects of changes in interest rates. In evaluating a potential impairment, the Company considers, among other factors, management’s intent and ability to hold the securities until price recovery, the nature of the investment and the expectation of prospects for the issuer and its industry, the status of an issuer’s continued satisfaction of its obligations in accordance with their contractual terms, and management’s expectation as to the issuer’s ability and intent to continue to do so, as well as ratings actions that may affect the issuer’s credit status. As of June 30, 2016, there were thirty-six securities in an unrealized loss position which primarily included certain of the Company’s investments in fixed maturities within the other diversified business, other diversified consumer, utilities and telecom and financial services sectors. Securities in an unrealized loss position reported in the other diversified business sector included gross unrealized losses of $2,313 related to investments in fixed maturities of ten different issuers, all related to the oil and gas industry. The oil and gas investee companies represent a diversified group of businesses which include, among others, refiners, pipeline owners and operators, deep water offshore rig owners and operators, all of which we believe are in continuing stages of rationalizing their current investments, future capital expenditures and assessing capital and liquidity requirements. To our knowledge, the companies are continuing to assess and revise short-term, intermediate and long-term business plans in response to the current trends in oil and gas markets. While these companies have generally experienced credit downgrades or may be currently under credit rating review, the Company believes that many of the downgrades are in response to external market forces and not necessarily specific credit events of any obligor which would currently indicate that an other than temporary impairment need be recorded. All of the investees have continued to make regular interest payments on their debt when and as due and the Company continues to perform in-depth analysis of the financial disclosures of each of the investees on a regular basis. The Company does not currently intend to sell nor does it expect to be required to sell any of the securities in an unrealized loss position. Based upon the Company’s expected continuation of receipt of contractually required principal and interest payments and its intent and ability to retain the securities until price recovery, as well as the Company’s evaluation of other relevant factors, including those described above, the Company has deemed these securities to be temporarily impaired as of June 30, 2016. The following describes the fair value hierarchy and provides information as to the extent to which the Company uses fair value to measure the value of its financial instruments and information about the inputs used to value those financial instruments. The fair value hierarchy prioritizes the inputs in the valuation techniques used to measure fair value into three broad levels. Level 1 Observable inputs that reflect quoted prices for identical assets or liabilities in active markets that the Company has the ability to access at the measurement date. The Company’s financial instruments valued using Level 1 criteria include cash equivalents and exchange traded common stocks. Level 2 Observable inputs, other than quoted prices included in Level 1, for an asset or liability or prices for similar assets or liabilities. The Company’s financial instruments valued using Level 2 criteria include significantly all of its fixed maturities, which consist of U.S. Treasury securities and U.S. Government securities, obligations of states and political subdivisions, and certain corporate fixed maturities, as well as its non-redeemable preferred stocks. In determining fair value measurements using Level 2 criteria, the Company utilizes data from outside sources, including nationally recognized pricing services and broker/dealers, in establishing the fair value of its fixed maturities and non-redeemable preferred stocks. Prices for the majority of the Company’s Level 2 fixed maturities and non-redeemable preferred stocks were determined using unadjusted prices received from pricing services that utilize a matrix pricing concept, which is a mathematical technique used widely in the industry to value debt securities based on various relationships to other benchmark quoted prices. Level 3 Valuations that are derived from techniques in which one or more of the significant inputs are unobservable (including assumptions about risk). Fair value is based on criteria that use assumptions or other data that are not readily observable from objective sources. The Company’s financial instruments valued using Level 3 criteria consist of a limited number of fixed maturities. As of June 30, 2016 and December 31, 2015, the value of the Company’s fixed maturities valued using Level 3 criteria was $2,368 and $2,237, respectively. The use of different criteria or assumptions regarding data may have yielded materially different valuations. As of June 30, 2016, financial instruments carried at fair value were measured on a recurring basis as summarized below: Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) Total Assets: Fixed maturities $ - $ 206,465 $ 2,368 (1) $ 208,833 Equity securities 14,938 5,490 (1) - 20,428 Cash equivalents 12,535 - - 12,535 Total $ 27,473 $ 211,955 $ 2,368 $ 241,796 (1) All underlying securities are financial service industry related. As of December 31, 2015, financial instruments carried at fair value were measured on a recurring basis as summarized below: Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) Total Assets: Fixed maturities $ - $ 203,087 $ 2,237 (1) $ 205,324 Equity securities 18,245 4,886 (1) - 23,131 Cash equivalents 13,772 - - 13,772 Total $ 32,017 $ 207,973 $ 2,237 $ 242,227 (1) All underlying securities are financial service industry related. The following tables provide a roll-forward of the Company’s financial instruments measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three month and six month periods ended June 30, 2016 and 2015. Fixed Maturities Balance, December 31, 2015 $ 2,237 Total unrealized gains included in other comprehensive income 63 Balance, March 31, 2016 2,300 Total unrealized gains included in other comprehensive income 68 Balance, June 30, 2016 $ 2,368 Fixed Maturities Balance, December 31, 2014 $ 2,214 Total unrealized gains included in other comprehensive income 50 Balance, March 31, 2015 2,264 Total unrealized losses included in other comprehensive loss (57 ) Balance, June 30, 2015 $ 2,207 The Company’s fixed maturities valued using Level 3 inputs consist solely of issuances of pooled debt obligations of multiple, smaller financial services companies. They are not actively traded and valuation techniques used to measure fair value are based on future estimated cash flows (based on current cash flows) discounted at reasonable estimated rates of interest. There are no assumed prepayments and/or default probability assumptions as a majority of these instruments contain certain U.S. government agency strips to support repayment of the principal. Other qualitative and quantitative information received from the original underwriter of the pooled offerings is also considered, as applicable. The following table is a summary of realized investment gains (losses) for the three month and six month periods ended June 30, 2016 and 2015. Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Gross gains $ 132 $ 4,502 $ 954 $ 5,458 Gross losses - (354 ) (70 ) (359 ) Realized investment gains, net $ 132 $ 4,148 $ 884 $ 5,099

Fair Values of Financial Instru

Fair Values of Financial Instruments	6 Months Ended
	Jun. 30, 2016
Fair Values of Financial Instruments [Abstract]
Fair Values of Financial Instruments	Note 9. Fair Values of Financial Instruments The estimated fair values have been determined by the Company using available market information from various market sources and appropriate valuation methodologies as of the respective dates. However, considerable judgment is necessary to interpret market data and to develop the estimates of fair value. Although management is not aware of any factors that would significantly affect the estimated fair value amounts, the estimates presented herein are not necessarily indicative of the amounts which the Company could realize in a current market exchange. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. The following table sets forth the carrying amount, estimated fair value and level within the fair value hierarchy of the Company’s financial instruments as of June 30, 2016 and December 31, 2015. June 30, 2016 December 31, 2015 Level in Fair Value Hierarchy (1) Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Assets: Cash and cash equivalents Level 1 $ 13,968 $ 13,968 $ 15,622 $ 15,622 Fixed maturities (1) 208,833 208,833 205,324 205,324 Equity securities (1) 20,428 20,428 23,131 23,131 Other invested assets Level 3 5,777 5,777 6,454 7,070 Policy loans Level 2 2,179 2,179 2,200 2,200 Real estate Level 2 38 38 38 38 Investment in unconsolidated trusts Level 2 1,238 1,238 1,238 1,238 Liabilities: Junior Subordinated Debentures, net Level 2 33,738 33,738 33,738 33,738 (1) See Note 8 for a description of the fair value hierarchy as well as a disclosure of levels for classes of these financial assets. There have not been any transfers between Level 1, Level 2 and Level 3 during the periods presented in these condensed consolidated financial statements.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2016
Accumulated Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income	Note 10. Accumulated Other Comprehensive Income The following table sets forth the balance of the only component of accumulated other comprehensive income as of June 30, 2016 and December 31, 2015, and the changes in the balance of that component during the six month period ended June 30, 2016, net of taxes. Unrealized Gains on Available-for- Sale Securities Balance, December 31, 2015 $ 4,584 Other comprehensive income before reclassifications 5,663 Amounts reclassified from accumulated other comprehensive income (575 ) Net current period other comprehensive income 5,088 Balance, June 30, 2016 $ 9,672

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2016
Segment Information [Abstract]
Revenue and income before income taxes for each business unit	The following sets forth the revenue and income before income taxes for each business unit for the three month and six month periods ended June 30, 2016 and 2015. Revenue Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 American Southern $ 14,820 $ 15,664 $ 29,631 $ 30,436 Bankers Fidelity 26,883 28,820 53,722 54,890 Corporate and Other 151 288 248 395 Total revenue $ 41,854 $ 44,772 $ 83,601 $ 85,721 Income Before Income Taxes Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 American Southern $ 1,885 $ 1,824 $ 4,116 $ 3,673 Bankers Fidelity (51 ) 3,900 947 5,090 Corporate and Other (1,477 ) (1,535 ) (3,330 ) (3,564 ) Income before income taxes $ 357 $ 4,189 $ 1,733 $ 5,199

Junior Subordinated Debentures

Junior Subordinated Debentures (Tables)	6 Months Ended
	Jun. 30, 2016
Junior Subordinated Debentures [Abstract]
Financial structure of statutory business trusts	The financial structure of each of Atlantic American Statutory Trust I and II as of June 30, 2016 was as follows: Atlantic American Statutory Trust I Atlantic American Statutory Trust II JUNIOR SUBORDINATED DEBENTURES (1) (2) Principal amount owed $ 18,042 $ 23,196 Balance June 30, 2016 $ 18,042 $ 23,196 Less: Treasury debt (3) - (7,500 ) Net balance June 30, 2016 $ 18,042 $ 15,696 Net balance December 31, 2015 $ 18,042 $ 15,696 Coupon rate LIBOR + 4.00% LIBOR + 4.10% Interest payable Quarterly Quarterly Maturity date December 4, 2032 May 15, 2033 Redeemable by issuer Yes Yes TRUST PREFERRED SECURITIES Issuance date December 4, 2002 May 15, 2003 Securities issued 17,500 22,500 Liquidation preference per security $ 1 $ 1 Liquidation value $ 17,500 $ 22,500 Coupon rate LIBOR + 4.00% LIBOR + 4.10% Distribution payable Quarterly Quarterly Distribution guaranteed by (4) Atlantic American Corporation Atlantic American Corporation (1) For each of the respective debentures, the Company has the right at any time, and from time to time, to defer payments of interest on the Junior Subordinated Debentures for a period not exceeding 20 consecutive quarters up to the debentures’ respective maturity dates. During any such period, interest will continue to accrue and the Company may not declare or pay any cash dividends or distributions on, or purchase, the Company’s common stock nor make any principal, interest or premium payments on or repurchase any debt securities that rank equally with or junior to the Junior Subordinated Debentures. The Company has the right at any time to dissolve each of the trusts and cause the Junior Subordinated Debentures to be distributed to the holders of the Trust Preferred Securities. (2) The Junior Subordinated Debentures are unsecured and rank junior and subordinate in right of payment to all senior debt of the Parent and are effectively subordinated to all existing and future liabilities of its subsidiaries. (3) On August 4, 2014, the Company acquired $7,500 of the Junior Subordinated Debentures. (4) The Parent has guaranteed, on a subordinated basis, all of the obligations under the Trust Preferred Securities, including payment of the redemption price and any accumulated and unpaid distributions to the extent of available funds and upon dissolution, winding up or liquidation.

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Common Share [Abstract]
Reconciliation of numerator and denominator used in earnings per common share calculations	A reconciliation of the numerator and denominator used in the earnings per common share calculations is as follows: Three Months Ended June 30, 2016 Income Shares (In thousands) Per Share Amount Basic and Diluted Earnings Per Common Share: Net income $ 241 20,454 Less preferred stock dividends (100 ) - Net income applicable to common shareholders $ 141 20,454 $ .01 Three Months Ended June 30, 2015 Income Shares (In thousands) Per Share Amount Basic Earnings Per Common Share: Net income $ 3,345 20,573 Less preferred stock dividends (100 ) - Net income applicable to common shareholders 3,245 20,573 $ .16 Diluted Earnings Per Common Share: Effect of Series D preferred stock 100 1,378 Net income applicable to common shareholders $ 3,345 21,951 $ .15 Six Months Ended June 30, 2016 Income Shares (In thousands) Per Share Amount Basic and Diluted Earnings Per Common Share: Net income $ 1,139 20,430 Less preferred stock dividends (199 ) - Net income applicable to common shareholders $ 940 20,430 $ .05 Six Months Ended June 30, 2015 Income Shares (In thousands) Per Share Amount Basic Earnings Per Common Share: Net income $ 4,036 20,582 Less preferred stock dividends (199 ) - Net income applicable to common shareholders 3,837 20,582 $ .19 Diluted Earnings Per Common Share: Effect of Series D preferred stock 199 1,378 Net income applicable to common shareholders $ 4,036 21,960 $ .18

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2016
Income Taxes [Abstract]
Reconciliation of income tax expense	A reconciliation of the differences between income taxes computed at the federal statutory income tax rate and income tax expense is as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Federal income tax provision at statutory rate of 35% $ 125 $ 1,466 $ 607 $ 1,820 Dividends-received deduction (24 ) (27 ) (46 ) (54 ) Small life insurance company deduction - (605 ) - (623 ) Other permanent differences 15 10 33 20 Income tax expense $ 116 $ 844 $ 594 $ 1,163
Components of income tax expense	The components of income tax expense were: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Current - Federal $ 590 $ 1,108 $ 590 $ 1,119 Deferred - Federal (474 ) (264 ) 4 44 Total $ 116 $ 844 $ 594 $ 1,163

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2016
Investments [Abstract]
Investments aggregated by type and industry	Investments were comprised of the following: June 30, 2016 Carrying Value Gross Unrealized Gains Gross Unrealized Losses Amortized Cost Fixed maturities: Bonds: U.S. Treasury securities and obligations of U.S. Government agencies and authorities $ 16,040 $ 519 $ 1 $ 15,522 Obligations of states and political subdivisions 18,446 1,182 - 17,264 Corporate securities: Utilities and telecom 20,527 2,184 182 18,525 Financial services 56,392 3,018 950 54,324 Other business – diversified 66,368 2,564 3,016 66,820 Other consumer – diversified 30,613 1,189 606 30,030 Total corporate securities 173,900 8,955 4,754 169,699 Redeemable preferred stocks: Financial services 254 4 - 250 Other consumer – diversified 193 - - 193 Total redeemable preferred stocks 447 4 - 443 Total fixed maturities 208,833 10,660 4,755 202,928 Equity securities: Common and non-redeemable preferred stocks: Utilities and telecom 1,675 711 - 964 Financial services 5,736 908 - 4,828 Other business – diversified 217 170 - 47 Other consumer – diversified 12,800 7,186 - 5,614 Total equity securities 20,428 8,975 - 11,453 Other invested assets 5,777 - - 5,777 Policy loans 2,179 - - 2,179 Real estate 38 - - 38 Investments in unconsolidated trusts 1,238 - - 1,238 Total investments $ 238,493 $ 19,635 $ 4,755 $ 223,613 December 31, 2015 Carrying Value Gross Unrealized Gains Gross Unrealized Losses Amortized Cost Fixed maturities: Bonds: U.S. Treasury securities and obligations of U.S. Government agencies and authorities $ 22,234 $ 290 $ 175 $ 22,119 Obligations of states and political subdivisions 25,479 621 552 25,410 Corporate securities: Utilities and telecom 17,589 1,357 692 16,924 Financial services 54,035 1,797 1,351 53,589 Other business – diversified 60,960 729 5,898 66,129 Other consumer – diversified 24,581 136 1,391 25,836 Total corporate securities 157,165 4,019 9,332 162,478 Redeemable preferred stocks: Financial services 253 3 - 250 Other consumer – diversified 193 - - 193 Total redeemable preferred stocks 446 3 - 443 Total fixed maturities 205,324 4,933 10,059 210,450 Equity securities: Common and non-redeemable preferred stocks: Utilities and telecom 1,386 422 - 964 Financial services 5,175 847 - 4,328 Other business – diversified 198 151 - 47 Other consumer – diversified 16,372 10,758 - 5,614 Total equity securities 23,131 12,178 - 10,953 Other invested assets 6,454 - - 6,454 Policy loans 2,200 - - 2,200 Real estate 38 - - 38 Investments in unconsolidated trusts 1,238 - - 1,238 Total investments $ 238,385 $ 17,111 $ 10,059 $ 231,333
Amortized cost and carrying value of fixed maturities by contractual maturity	The carrying value and amortized cost of the Company’s investments in fixed maturities at June 30, 2016 and December 31, 2015 by contractual maturity were as follows. Actual maturities may differ from contractual maturities because issuers may call or prepay obligations with or without call or prepayment penalties. June 30, 2016 December 31, 2015 Carrying Value Amortized Cost Carrying Value Amortized Cost Due in one year or less $ 2,659 $ 2,648 $ 4,143 $ 4,113 Due after one year through five years 21,768 21,407 20,557 20,591 Due after five years through ten years 108,477 105,847 99,614 103,066 Due after ten years 74,755 72,030 79,882 81,684 Varying maturities 1,174 996 1,128 996 Totals $ 208,833 $ 202,928 $ 205,324 $ 210,450
Investments aggregated by industry	The following table sets forth the carrying value, amortized cost, and net unrealized gains (losses) of the Company’s investments aggregated by industry as of June 30, 2016 and December 31, 2015. June 30, 2016 December 31, 2015 Carrying Value Amortized Cost Unrealized Gains (Losses) Carrying Value Amortized Cost Unrealized Gains (Losses) U.S. Treasury securities and obligations of U.S. Government agencies and authorities $ 16,040 $ 15,522 $ 518 $ 22,234 $ 22,119 $ 115 Obligations of states and political subdivisions 18,446 17,264 1,182 25,479 25,410 69 Utilities and telecom 22,202 19,489 2,713 18,975 17,888 1,087 Financial services 62,382 59,402 2,980 59,463 58,167 1,296 Other business – diversified 66,585 66,867 (282 ) 61,158 66,176 (5,018 ) Other consumer – diversified 43,606 35,837 7,769 41,146 31,643 9,503 Other investments 9,232 9,232 - 9,930 9,930 - Investments $ 238,493 $ 223,613 $ 14,880 $ 238,385 $ 231,333 $ 7,052
Investment securities with continuous unrealized loss position	The following tables present the Company’s unrealized loss aging for securities by type and length of time the security was in a continuous unrealized loss position as of June 30, 2016 and December 31, 2015. June 30, 2016 Less than 12 months 12 months or longer Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Treasury securities and obligations of U.S. Government agencies and authorities $ 2,020 $ 1 $ - $ - $ 2,020 $ 1 Corporate securities 14,804 287 32,997 4,467 47,801 4,754 Total temporarily impaired securities $ 16,824 $ 288 $ 32,997 $ 4,467 $ 49,821 $ 4,755 December 31, 2015 Less than 12 months 12 months or longer Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Treasury securities and obligations of U.S. Government agencies and authorities $ 9,209 $ 120 $ 2,243 $ 55 $ 11,452 $ 175 Obligations of states and political subdivisions 16,079 552 - - 16,079 552 Corporate securities 79,482 4,284 16,131 5,048 95,613 9,332 Total temporarily impaired securities $ 104,770 $ 4,956 $ 18,374 $ 5,103 $ 123,144 $ 10,059
Financial instruments carried at fair value measured on a recurring basis	As of June 30, 2016, financial instruments carried at fair value were measured on a recurring basis as summarized below: Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) Total Assets: Fixed maturities $ - $ 206,465 $ 2,368 (1) $ 208,833 Equity securities 14,938 5,490 (1) - 20,428 Cash equivalents 12,535 - - 12,535 Total $ 27,473 $ 211,955 $ 2,368 $ 241,796 (1) All underlying securities are financial service industry related. As of December 31, 2015, financial instruments carried at fair value were measured on a recurring basis as summarized below: Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) Total Assets: Fixed maturities $ - $ 203,087 $ 2,237 (1) $ 205,324 Equity securities 18,245 4,886 (1) - 23,131 Cash equivalents 13,772 - - 13,772 Total $ 32,017 $ 207,973 $ 2,237 $ 242,227 (1) All underlying securities are financial service industry related.
Roll-forward of financial instruments measured at fair value on a recurring basis using significant unobservable inputs (Level 3)	The following tables provide a roll-forward of the Company’s financial instruments measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three month and six month periods ended June 30, 2016 and 2015. Fixed Maturities Balance, December 31, 2015 $ 2,237 Total unrealized gains included in other comprehensive income 63 Balance, March 31, 2016 2,300 Total unrealized gains included in other comprehensive income 68 Balance, June 30, 2016 $ 2,368 Fixed Maturities Balance, December 31, 2014 $ 2,214 Total unrealized gains included in other comprehensive income 50 Balance, March 31, 2015 2,264 Total unrealized losses included in other comprehensive loss (57 ) Balance, June 30, 2015 $ 2,207
Summary of realized investment gains (losses)	The following table is a summary of realized investment gains (losses) for the three month and six month periods ended June 30, 2016 and 2015. Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Gross gains $ 132 $ 4,502 $ 954 $ 5,458 Gross losses - (354 ) (70 ) (359 ) Realized investment gains, net $ 132 $ 4,148 $ 884 $ 5,099

Fair Values of Financial Inst23

Fair Values of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Values of Financial Instruments [Abstract]
Carrying amount, estimated fair value and level within the fair value hierarchy of financial instruments	The following table sets forth the carrying amount, estimated fair value and level within the fair value hierarchy of the Company’s financial instruments as of June 30, 2016 and December 31, 2015. June 30, 2016 December 31, 2015 Level in Fair Value Hierarchy (1) Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Assets: Cash and cash equivalents Level 1 $ 13,968 $ 13,968 $ 15,622 $ 15,622 Fixed maturities (1) 208,833 208,833 205,324 205,324 Equity securities (1) 20,428 20,428 23,131 23,131 Other invested assets Level 3 5,777 5,777 6,454 7,070 Policy loans Level 2 2,179 2,179 2,200 2,200 Real estate Level 2 38 38 38 38 Investment in unconsolidated trusts Level 2 1,238 1,238 1,238 1,238 Liabilities: Junior Subordinated Debentures, net Level 2 33,738 33,738 33,738 33,738 (1) See Note 8 for a description of the fair value hierarchy as well as a disclosure of levels for classes of these financial assets.

Accumulated Other Comprehensi24

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2016
Accumulated Other Comprehensive Income [Abstract]
Changes in balances of each component of accumulated other comprehensive income, net of taxes	The following table sets forth the balance of the only component of accumulated other comprehensive income as of June 30, 2016 and December 31, 2015, and the changes in the balance of that component during the six month period ended June 30, 2016, net of taxes. Unrealized Gains on Available-for- Sale Securities Balance, December 31, 2015 $ 4,584 Other comprehensive income before reclassifications 5,663 Amounts reclassified from accumulated other comprehensive income (575 ) Net current period other comprehensive income 5,088 Balance, June 30, 2016 $ 9,672

Recently Issued Accounting St25

Recently Issued Accounting Standards (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Recently Issued Accounting Standards [Abstract]
Equity securities available-for-sale	$ 20,428	$ 23,131
Equity securities unrealized gains, net of tax	$ 5,834

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)Segment	Jun. 30, 2015USD ($)
Segment Information [Abstract]
Number of business units | Segment			2
Revenue and income before income taxes for each business unit [Abstract]
Total revenue	$ 41,854	$ 44,772	$ 83,601	$ 85,721
Income before income taxes	357	4,189	1,733	5,199
Corporate and Other [Member]
Revenue and income before income taxes for each business unit [Abstract]
Total revenue	151	288	248	395
Income before income taxes	(1,477)	(1,535)	(3,330)	(3,564)
American Southern [Member] | Operating Segments [Member]
Revenue and income before income taxes for each business unit [Abstract]
Total revenue	14,820	15,664	29,631	30,436
Income before income taxes	1,885	1,824	4,116	3,673
Bankers Fidelity [Member] | Operating Segments [Member]
Revenue and income before income taxes for each business unit [Abstract]
Total revenue	26,883	28,820	53,722	54,890
Income before income taxes	$ (51)	$ 3,900	$ 947	$ 5,090

Junior Subordinated Debenture27

Junior Subordinated Debentures (Details) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)TrustQuarter$ / sharesshares
Debt Instrument [Line Items]
Number of Connecticut statutory business trusts | Trust	2
Financial structure of statutory business trusts [Abstract]
Net balance June 30, 2016	$ 33,738
Net balance December 31, 2015	$ 33,738
Junior Subordinated Debentures [Member]
Financial structure of statutory business trusts [Abstract]
Number of consecutive quarters for which interest payments can be deferred | Quarter	20
Atlantic American Statutory Trust I [Member] | Junior Subordinated Debentures [Member]
Financial structure of statutory business trusts [Abstract]
Principal amount owed	$ 18,042	[1],[2]
Balance June 30, 2016	18,042	[1],[2]
Less: Treasury debt	0	[1],[2],[3]
Net balance June 30, 2016	18,042	[1],[2]
Net balance December 31, 2015	$ 18,042	[1],[2]
Coupon rate	LIBOR + 4.00%	[1],[2]
Interest payable	Quarterly	[1],[2]
Maturity date	Dec. 4, 2032	[1],[2]
Redeemable by issuer	Yes	[1],[2]
Atlantic American Statutory Trust I [Member] | Junior Subordinated Debentures [Member] | LIBOR [Member]
Financial structure of statutory business trusts [Abstract]
Basis spread on variable rate	4.00%
Atlantic American Statutory Trust I [Member] | Trust Preferred Securities [Member]
Financial structure of statutory business trusts [Abstract]
Coupon rate	LIBOR + 4.00%
Issuance date	Dec. 4, 2002
Securities issued (in shares) | shares	17,500
Liquidation preference per security (in dollars per share) | $ / shares	$ 1
Liquidation value	$ 17,500
Distribution payable	Quarterly
Distribution guaranteed by	Atlantic American Corporation	[4]
Atlantic American Statutory Trust I [Member] | Trust Preferred Securities [Member] | LIBOR [Member]
Financial structure of statutory business trusts [Abstract]
Basis spread on variable rate	4.00%
Atlantic American Statutory Trust II [Member] | Junior Subordinated Debentures [Member]
Financial structure of statutory business trusts [Abstract]
Principal amount owed	$ 23,196	[1],[2]
Balance June 30, 2016	23,196	[1],[2]
Less: Treasury debt	(7,500)	[1],[2],[3]
Net balance June 30, 2016	15,696	[1],[2]
Net balance December 31, 2015	$ 15,696	[1],[2]
Coupon rate	LIBOR + 4.10%	[1],[2]
Interest payable	Quarterly	[1],[2]
Maturity date	May 15, 2033	[1],[2]
Redeemable by issuer	Yes	[1],[2]
Atlantic American Statutory Trust II [Member] | Junior Subordinated Debentures [Member] | LIBOR [Member]
Financial structure of statutory business trusts [Abstract]
Basis spread on variable rate	4.10%
Atlantic American Statutory Trust II [Member] | Trust Preferred Securities [Member]
Financial structure of statutory business trusts [Abstract]
Coupon rate	LIBOR + 4.10%
Issuance date	May 15, 2003
Securities issued (in shares) | shares	22,500
Liquidation preference per security (in dollars per share) | $ / shares	$ 1
Liquidation value	$ 22,500
Distribution payable	Quarterly
Distribution guaranteed by	Atlantic American Corporation	[4]
Atlantic American Statutory Trust II [Member] | Trust Preferred Securities [Member] | LIBOR [Member]
Financial structure of statutory business trusts [Abstract]
Basis spread on variable rate	4.10%
[1]	For each of the respective debentures, the Company has the right at any time, and from time to time, to defer payments of interest on the Junior Subordinated Debentures for a period not exceeding 20 consecutive quarters up to the debentures' respective maturity dates. During any such period, interest will continue to accrue and the Company may not declare or pay any cash dividends or distributions on, or purchase, the Company's common stock nor make any principal, interest or premium payments on or repurchase any debt securities that rank equally with or junior to the Junior Subordinated Debentures. The Company has the right at any time to dissolve each of the trusts and cause the Junior Subordinated Debentures to be distributed to the holders of the Trust Preferred Securities.
[2]	The Junior Subordinated Debentures are unsecured and rank junior and subordinate in right of payment to all senior debt of the Parent and are effectively subordinated to all existing and future liabilities of its subsidiaries.
[3]	On August 4, 2014, the Company acquired $7,500 of the Junior Subordinated Debentures.
[4]	The Parent has guaranteed, on a subordinated basis, all of the obligations under the Trust Preferred Securities, including payment of the redemption price and any accumulated and unpaid distributions to the extent of available funds and upon dissolution, winding up or liquidation.

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income [Abstract]
Net income	$ 241	$ 3,345	$ 1,139	$ 4,036
Less preferred stock dividends	(100)	(100)	(199)	(199)
Net income applicable to common shareholders	$ 141	3,245	$ 940	3,837
Effect of Series D preferred stock		100		199
Net income applicable to common shareholders		$ 3,345		$ 4,036
Shares [Abstract]
Weighted average number of shares outstanding, basic (in shares)		20,573		20,582
Weighted average shares outstanding (in shares)	20,454		20,430
Effect of Series D preferred stock (in shares)		1,378		1,378
Weighted average shares outstanding, diluted (in shares)		21,951		21,960
Per Share Amount [Abstract]
Net income applicable to common shareholders, basic (in dollars per share)	$ 0.01	$ 0.16	$ 0.05	$ 0.19
Net income applicable to common shareholders (in dollars per share)	0.01		0.05
Net income applicable to common shareholders, diluted (in dollars per share)	$ 0.01	$ 0.15	$ 0.05	$ 0.18

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Reconciliation of income tax (benefit) expense [Abstract]
Federal income tax provision at statutory rate of 35%	$ 125	$ 1,466	$ 607	$ 1,820
Dividends-received deduction	(24)	(27)	(46)	(54)
Small life insurance company deduction	0	(605)	0	(623)
Other permanent differences	15	10	33	20
Income tax expense	116	844	$ 594	1,163
Federal statutory income tax rate			35.00%
Components of income tax expense [Abstract]
Current - Federal	590	1,108	$ 590	1,119
Deferred - Federal	(474)	(264)	4	44
Income tax expense	116	$ 844	$ 594	$ 1,163
SLD as percentage of life insurance company taxable income			60.00%
Percentage of reduction in SLD			15.00%
Tentative amount of LICTI to reduction of SLD	3,000		$ 3,000
Tentative amount of LICTI to phase out of SLD	$ 15,000		$ 15,000

Investments, Aggregated by Type

Investments, Aggregated by Type and Industry (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)SecuritiesIssuer	Dec. 31, 2015USD ($)
Investments aggregated by type and industry [Abstract]
Carrying value	$ 208,833	$ 205,324
Gross unrealized gains	10,660	4,933
Gross unrealized losses	4,755	10,059
Amortized cost	202,928	210,450
Carrying value	20,428	23,131
Gross unrealized gains	8,975	12,178
Gross unrealized losses	0	0
Amortized cost	11,453	10,953
Other invested assets	5,777	6,454
Other invested assets, amortized cost	5,777	6,454
Policy loans	2,179	2,200
Policy loans, amortized cost	2,179	2,200
Real estate	38	38
Real estate, amortized cost	38	38
Investment in unconsolidated trusts	1,238	1,238
Investment in unconsolidated trusts, amortized cost	1,238	1,238
Total investments	238,493	238,385
Total investments, gross unrealized gains	19,635	17,111
Total investments, gross unrealized losses	4,755	10,059
Total investments, amortized cost	223,613	231,333
Amortized cost of bonds on deposit with insurance regulatory authorities	$ 11,151	11,259
Number of securities in unrealized loss position | Securities	36
Oil and Gas Properties [Member]
Investments aggregated by type and industry [Abstract]
Gross unrealized losses	$ 2,313
Fixed maturity investments, number of issuers | Issuer	10
Fixed Maturities - U.S. Treasury Securities and Obligations of U.S. Government Agencies and Authorities [Member]
Investments aggregated by type and industry [Abstract]
Carrying value	$ 16,040	22,234
Gross unrealized gains	519	290
Gross unrealized losses	1	175
Amortized cost	15,522	22,119
Fixed Maturities - Obligations of States and Political Subdivisions [Member]
Investments aggregated by type and industry [Abstract]
Carrying value	18,446	25,479
Gross unrealized gains	1,182	621
Gross unrealized losses	0	552
Amortized cost	17,264	25,410
Fixed Maturities - Corporate Securities [Member]
Investments aggregated by type and industry [Abstract]
Carrying value	173,900	157,165
Gross unrealized gains	8,955	4,019
Gross unrealized losses	4,754	9,332
Amortized cost	169,699	162,478
Fixed Maturities - Utilities and Telecom [Member]
Investments aggregated by type and industry [Abstract]
Carrying value	20,527	17,589
Gross unrealized gains	2,184	1,357
Gross unrealized losses	182	692
Amortized cost	18,525	16,924
Fixed Maturities - Financial Services [Member]
Investments aggregated by type and industry [Abstract]
Carrying value	56,392	54,035
Gross unrealized gains	3,018	1,797
Gross unrealized losses	950	1,351
Amortized cost	54,324	53,589
Fixed Maturities - Other Business - Diversified [Member]
Investments aggregated by type and industry [Abstract]
Carrying value	66,368	60,960
Gross unrealized gains	2,564	729
Gross unrealized losses	3,016	5,898
Amortized cost	66,820	66,129
Fixed Maturities - Other Consumer - Diversified [Member]
Investments aggregated by type and industry [Abstract]
Carrying value	30,613	24,581
Gross unrealized gains	1,189	136
Gross unrealized losses	606	1,391
Amortized cost	30,030	25,836
Fixed Maturities - Redeemable Preferred Stocks [Member]
Investments aggregated by type and industry [Abstract]
Carrying value	447	446
Gross unrealized gains	4	3
Gross unrealized losses	0	0
Amortized cost	443	443
Fixed Maturities - Financial Services [Member]
Investments aggregated by type and industry [Abstract]
Carrying value	254	253
Gross unrealized gains	4	3
Gross unrealized losses	0	0
Amortized cost	250	250
Fixed Maturities - Other Consumer Diversified [Member]
Investments aggregated by type and industry [Abstract]
Carrying value	193	193
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Amortized cost	193	193
Equity Securities - Utilities and Telecom [Member]
Investments aggregated by type and industry [Abstract]
Carrying value	1,675	1,386
Gross unrealized gains	711	422
Gross unrealized losses	0	0
Amortized cost	964	964
Equity Securities - Financial Services [Member]
Investments aggregated by type and industry [Abstract]
Carrying value	5,736	5,175
Gross unrealized gains	908	847
Gross unrealized losses	0	0
Amortized cost	4,828	4,328
Equity Securities - Other Business Diversified [Member]
Investments aggregated by type and industry [Abstract]
Carrying value	217	198
Gross unrealized gains	170	151
Gross unrealized losses	0	0
Amortized cost	47	47
Equity Securities - Other Consumer Diversified [Member]
Investments aggregated by type and industry [Abstract]
Carrying value	12,800	16,372
Gross unrealized gains	7,186	10,758
Gross unrealized losses	0	0
Amortized cost	$ 5,614	$ 5,614

Investments, Fixed Maturities b

Investments, Fixed Maturities by Contractual Maturities (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Carrying Value [Abstract]
Due in one year or less	$ 2,659	$ 4,143
Due after one year through five years	21,768	20,557
Due after five years through ten years	108,477	99,614
Due after ten years	74,755	79,882
Varying maturities	1,174	1,128
Totals	208,833	205,324
Amortized Cost [Abstract]
Due in one year or less	2,648	4,113
Due after one year through five years	21,407	20,591
Due after five years through ten years	105,847	103,066
Due after ten years	72,030	81,684
Varying maturities	996	996
Amortized cost	$ 202,928	$ 210,450

Investments, Aggregated by Indu

Investments, Aggregated by Industry (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Investments aggregated by industry [Abstract]
Carrying value	$ 208,833	$ 205,324
Amortized cost	202,928	210,450
Carrying value	238,493	238,385
Amortized cost	223,613	231,333
Unrealized gains (losses)	14,880	7,052
U.S. Treasury Securities and Obligations of U.S. Government Agencies and Authorities [Member]
Investments aggregated by industry [Abstract]
Carrying value	16,040	22,234
Amortized cost	15,522	22,119
Unrealized gains (losses)	518	115
Obligations of States and Political Subdivisions [Member]
Investments aggregated by industry [Abstract]
Carrying value	18,446	25,479
Amortized cost	17,264	25,410
Unrealized gains (losses)	1,182	69
Utilities and Telecom [Member]
Investments aggregated by industry [Abstract]
Carrying value	22,202	18,975
Amortized cost	19,489	17,888
Unrealized gains (losses)	2,713	1,087
Financial Services [Member]
Investments aggregated by industry [Abstract]
Carrying value	62,382	59,463
Amortized cost	59,402	58,167
Unrealized gains (losses)	2,980	1,296
Other Business - Diversified [Member]
Investments aggregated by industry [Abstract]
Carrying value	66,585	61,158
Amortized cost	66,867	66,176
Unrealized gains (losses)	(282)	(5,018)
Other Consumer - Diversified [Member]
Investments aggregated by industry [Abstract]
Carrying value	43,606	41,146
Amortized cost	35,837	31,643
Unrealized gains (losses)	7,769	9,503
Other Investment [Member]
Investments aggregated by industry [Abstract]
Carrying value	9,232	9,930
Amortized cost	$ 9,232	$ 9,930

Investments, Securities with Co

Investments, Securities with Continuous Unrealized Loss Postion (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Available-for-sale securities, continuous unrealized loss position, Fair Value [Abstract]
Less than 12 months	$ 16,824	$ 104,770
12 months or longer	32,997	18,374
Total	49,821	123,144
Available-for-sale Securities, Continuous Unrealized Loss Position, Unrealized Losses [Abstract]
Less than 12 months	288	4,956
12 months or longer	4,467	5,103
Total	4,755	10,059
Fixed Maturities - U.S. Treasury Securities and Obligations of U.S. Government Agencies and Authorities [Member]
Available-for-sale securities, continuous unrealized loss position, Fair Value [Abstract]
Less than 12 months	2,020	9,209
12 months or longer	0	2,243
Total	2,020	11,452
Available-for-sale Securities, Continuous Unrealized Loss Position, Unrealized Losses [Abstract]
Less than 12 months	1	120
12 months or longer	0	55
Total	1	175
Fixed Maturities - Obligations of States and Political Subdivisions [Member]
Available-for-sale securities, continuous unrealized loss position, Fair Value [Abstract]
Less than 12 months		16,079
12 months or longer		0
Total		16,079
Available-for-sale Securities, Continuous Unrealized Loss Position, Unrealized Losses [Abstract]
Less than 12 months		552
12 months or longer		0
Total		552
Fixed Maturities - Corporate Securities [Member]
Available-for-sale securities, continuous unrealized loss position, Fair Value [Abstract]
Less than 12 months	14,804	79,482
12 months or longer	32,997	16,131
Total	47,801	95,613
Available-for-sale Securities, Continuous Unrealized Loss Position, Unrealized Losses [Abstract]
Less than 12 months	287	4,284
12 months or longer	4,467	5,048
Total	$ 4,754	$ 9,332

Investments, Fair Value Measure

Investments, Fair Value Measured on a Recurring Basis (Details) - Recurring [Member] - USD ($) $ in Thousands		Jun. 30, 2016	Dec. 31, 2015
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value		$ 241,796	$ 242,227
Fixed Maturities [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value		208,833	205,324
Equity Securities [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value		20,428	23,131
Cash Equivalents [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value		12,535	13,772
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value		27,473	32,017
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fixed Maturities [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value		0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Equity Securities [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value		14,938	18,245
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Cash Equivalents [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value		12,535	13,772
Significant Other Observable Inputs (Level 2) [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value		211,955	207,973
Significant Other Observable Inputs (Level 2) [Member] | Fixed Maturities [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value		206,465	203,087
Significant Other Observable Inputs (Level 2) [Member] | Equity Securities [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value	[1]	5,490	4,886
Significant Other Observable Inputs (Level 2) [Member] | Cash Equivalents [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value		0	0
Significant Unobservable Inputs (Level 3) [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value		2,368	2,237
Significant Unobservable Inputs (Level 3) [Member] | Fixed Maturities [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value	[1]	2,368	2,237
Significant Unobservable Inputs (Level 3) [Member] | Equity Securities [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value		0	0
Significant Unobservable Inputs (Level 3) [Member] | Cash Equivalents [Member]
Financial instruments carried at fair value measured on a recurring basis [Abstract]
Assets at fair value		$ 0	$ 0
[1]	All underlying securities are financial service industry related.

Investments, Roll-forward of Fi

Investments, Roll-forward of Financial Instruments Measured at Fair Value (Details) - Fixed Maturities [Member] - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Mar. 31, 2015
Assets measured at fair value on a recurring basis [Abstract]
Balance, beginning of period	$ 2,300	$ 2,237	$ 2,264	$ 2,214
Total unrealized gains (losses) included in other comprehensive income (loss)	68	63	(57)	50
Balance, end of period	$ 2,368	$ 2,300	$ 2,207	$ 2,264

Investments, Summary of Realize

Investments, Summary of Realized Investment Gains (Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Summary of realized investment gains (losses) [Abstract]
Gross gains	$ 132	$ 4,502	$ 954	$ 5,458
Gross losses	0	(354)	(70)	(359)
Realized investment gains, net	$ 132	$ 4,148	$ 884	$ 5,099

Fair Values of Financial Inst37

Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands		Jun. 30, 2016	Dec. 31, 2015
Carrying Amount [Member]
Assets [Abstract]
Fixed maturities	[1]	$ 208,833	$ 205,324
Equity securities	[1]	20,428	23,131
Carrying Amount [Member] | Level 1 [Member]
Assets [Abstract]
Cash and cash equivalents		13,968	15,622
Carrying Amount [Member] | Level 2 [Member]
Assets [Abstract]
Policy loans		2,179	2,200
Real estate		38	38
Investment in unconsolidated trusts		1,238	1,238
Liabilities [Abstract]
Junior subordinated debentures, net		33,738	33,738
Carrying Amount [Member] | Level 3 [Member]
Assets [Abstract]
Other invested assets		5,777	6,454
Estimated Fair Value [Member]
Assets [Abstract]
Fixed maturities	[1]	208,833	205,324
Equity securities	[1]	20,428	23,131
Estimated Fair Value [Member] | Level 1 [Member]
Assets [Abstract]
Cash and cash equivalents		13,968	15,622
Estimated Fair Value [Member] | Level 2 [Member]
Assets [Abstract]
Policy loans		2,179	2,200
Real estate		38	38
Investment in unconsolidated trusts		1,238	1,238
Liabilities [Abstract]
Junior subordinated debentures, net		33,738	33,738
Estimated Fair Value [Member] | Level 3 [Member]
Assets [Abstract]
Other invested assets		$ 5,777	$ 7,070
[1]	See Note 8 for a description of the fair value hierarchy as well as a disclosure of levels for classes of these financial assets.

Accumulated Other Comprehensi38

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Changes in balances of each component of accumulated other comprehensive income, net of taxes [Roll Forward]
Beginning Balance	$ 102,492	$ 104,195
Net current period other comprehensive income	5,088	(2,044)
Ending Balance	108,049	105,542
AOCI Attributable to Parent [Member]
Changes in balances of each component of accumulated other comprehensive income, net of taxes [Roll Forward]
Beginning Balance	4,584	9,279
Net current period other comprehensive income	5,088	(2,044)
Ending Balance	9,672	$ 7,235
Unrealized Gains on Available-for-Sale Securities [Member]
Changes in balances of each component of accumulated other comprehensive income, net of taxes [Roll Forward]
Beginning Balance	4,584
Other comprehensive income before reclassifications	5,663
Amounts reclassified from accumulated other comprehensive income	(575)
Net current period other comprehensive income	5,088
Ending Balance	$ 9,672