v3.26.1
Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues:        
Premiums $ 43,703 $ 43,388 $ 83,641 $ 83,185
Net investment income 17,031 17,169 34,335 34,546
Investment related gains (losses), net (1,494) 2,408 (510) (486)
Other income 1,168 2,121 2,662 3,493
Total revenues 60,408 65,086 120,128 120,738
Insurance benefits paid or provided:        
Claims and surrenders 33,751 40,220 73,404 80,318
Increase (decrease) in future policy benefit reserves 3,192 (4,554) (1,511) (8,200)
Policyholder liability remeasurement (gain) loss 1,712 1,351 2,587 1,179
Policyholders' dividends 1,393 1,315 2,495 2,610
Total insurance benefits paid or provided 40,048 38,332 76,975 75,907
Commissions 11,352 11,409 22,176 22,684
Other general expenses 14,090 13,459 27,462 26,152
Capitalization of deferred policy acquisition costs (9,717) (9,720) (18,661) (18,569)
Amortization of deferred policy acquisition costs 5,021 4,613 10,000 9,260
Amortization of cost of insurance acquired 143 79 331 177
Total benefits and expenses 60,937 58,172 118,283 115,611
Net income (loss) before taxes (529) 6,914 1,845 5,127
Federal income tax expense (benefit) (104) 455 2 291
Net income (loss) (425) 6,459 1,843 4,836
Unrealized gains (losses) on available-for-sale debt securities:        
Unrealized holding gains (losses) arising during period 3,867 243 (12,428) 18,577
Reclassification adjustment for (gains) losses included in net income (loss) (34) 168 378 251
Unrealized gains (losses) on fixed maturity securities, net 3,833 411 (12,050) 18,828
Change in current discount rate for liability for future policy benefits (8,393) 4,003 8,742 (4,586)
Income tax expense (benefit) on other comprehensive income items (948) 995 (634) 1,932
Other comprehensive income (loss) (3,612) 3,419 (2,674) 12,310
Comprehensive income (loss) $ (4,037) $ 9,878 $ (831) $ 17,146
Common Stock Class A        
Insurance benefits paid or provided:        
Basic earnings (loss) per share of Class A common stock (in dollars per share) $ (0.01) $ 0.13 $ 0.04 $ 0.10
Diluted earnings (loss) per share of Class A common stock (in dollars per share) $ (0.01) $ 0.13 $ 0.04 $ 0.10