v3.26.1
Segment And Other Operating Information (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting
Three Months Ended June 30, 2026International InsuranceDomestic InsuranceTotal
(In thousands)
Revenues:
Premiums$28,369 15,334 43,703 
Net investment income11,725 5,102 16,827 
Investment related gains (losses), net(1,559)67 (1,492)
Other income1,161 7 1,168 
Total segment revenues39,696 20,510 60,206 
Other non-insurance revenues202 
Total consolidated revenues$60,408 
Benefits and expenses:
Insurance benefits paid or provided:
Claims and surrenders25,907 7,844 
Increase (decrease) in future policy benefit reserves189 3,003 
Policyholder liability remeasurement (gain) loss1,966 (254)
Policyholders' dividends1,341 52 
Total insurance benefits paid or provided29,403 10,645 
Commissions4,892 6,460 
Other general expenses5,193 5,428 
Capitalization of deferred policy acquisition costs(4,464)(5,253)
Amortization of deferred policy acquisition costs3,548 1,473 
Amortization of cost of insurance acquired— 143 
Total segment benefits and expenses38,572 18,896 
Segment profit (loss)$1,124 1,614 2,738 
Other non-insurance revenues202 
Stock-based compensation expense(776)
Other non-insurance expenses(2,693)
Income (loss) before federal income tax$(529)
International Insurance
Domestic Insurance
Total
Six Months Ended June 30, 2026
(In thousands)
Revenues:
Premiums$53,567 30,074 83,641 
Net investment income23,729 10,215 33,944 
Investment related gains (losses), net(225)(278)(503)
Other income2,648 14 2,662 
Total segment revenues79,719 40,025 119,744 
Other non-insurance revenues384 
Total consolidated revenues$120,128 
Benefits and expenses:
Insurance benefits paid or provided:
Claims and surrenders58,018 15,386 
Increase (decrease) in future policy benefit reserves(7,075)5,564 
Policyholder liability remeasurement (gain) loss3,091 (504)
Policyholders' dividends2,377 118 
Total insurance benefits paid or provided56,411 20,564 
Commissions9,381 12,795 
Other general expenses10,795 10,534 
Capitalization of deferred policy acquisition costs(8,697)(9,964)
Amortization of deferred policy acquisition costs7,100 2,900 
Amortization of cost of insurance acquired— 331 
Total segment benefits and expenses74,990 37,160 
Segment profit (loss)$4,729 2,865 7,594 
Other non-insurance revenues384 
Stock-based compensation expense(1,314)
Other non-insurance expenses(4,819)
Income (loss) before federal income tax$1,845 
International Insurance
Domestic Insurance
Total
Three Months Ended June 30, 2025
(In thousands)
Revenues:
Premiums$28,878 14,510 43,388 
Net investment income12,076 4,919 16,995 
Investment related gains (losses), net2,834 (427)2,407 
Other income2,113 8 2,121 
Total segment revenues45,901 19,010 64,911 
Other non-insurance revenues175 
Total consolidated revenues$65,086 
Benefits and expenses:
Insurance benefits paid or provided:
Claims and surrenders34,399 5,821 
Increase (decrease) in future policy benefit reserves(6,965)2,411 
Policyholder liability remeasurement (gain) loss1,106 245 
Policyholders' dividends1,229 86 
Total insurance benefits paid or provided29,769 8,563 
Commissions5,185 6,224 
Other general expenses5,318 5,125 
Capitalization of deferred policy acquisition costs(4,960)(4,760)
Amortization of deferred policy acquisition costs3,462 1,151 
Amortization of cost of insurance acquired— 79 
Total segment benefits and expenses38,774 16,382 
Segment profit (loss)$7,127 2,628 9,755 
Other non-insurance revenues175 
Stock-based compensation expense(1,209)
Other non-insurance expenses(1,807)
Income (loss) before federal income tax$6,914 
International Insurance
Domestic Insurance
Total
Six Months Ended June 30, 2025
(In thousands)
Revenues:
Premiums$54,486 28,699 83,185 
Net investment income24,207 9,978 34,185 
Investment related gains (losses), net68 (556)(488)
Other income3,478 15 3,493 
Total segment revenues82,239 38,136 120,375 
Other non-insurance revenues363 
Total consolidated revenues$120,738 
Benefits and expenses:
Insurance benefits paid or provided:
Claims and surrenders67,433 12,885 
Increase (decrease) in future policy benefit reserves(13,821)5,621 
Policyholder liability remeasurement (gain) loss1,199 (20)
Policyholders' dividends2,414 196 
Total insurance benefits paid or provided57,225 18,682 
Commissions10,288 12,396 
Other general expenses10,613 10,185 
Capitalization of deferred policy acquisition costs(9,747)(8,822)
Amortization of deferred policy acquisition costs6,928 2,332 
Amortization of cost of insurance acquired— 177 
Total segment benefits and expenses75,307 34,950 
Segment profit (loss)$6,932 3,186 10,118 
Other non-insurance revenues363 
Stock-based compensation expense(1,781)
Other non-insurance expenses(3,573)
Income (loss) before federal income tax$5,127 

The Company categorizes premiums in two categories - first year premiums are premiums received within the first 12 months of a policy's issuance and any premiums received thereafter are renewal premiums. A summary of the premiums for the International Insurance segment is detailed below.


(In thousands)
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Direct premiums:
First year$3,5413,8146,8317,206
Renewal25,34425,49247,63648,179
Total direct premiums28,88529,30654,46755,385
Reinsurance
(516)(428)(900)(899)
Total premiums$28,36928,87853,56754,486
A summary of the Domestic Insurance segment premium breakout is detailed below.


(In thousands)
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Direct premiums:
First year$6,218 5,621 11,898 11,046 
Renewal13,002 11,474 25,672 22,320 
Total direct premiums
19,220 17,095 37,570 33,366 
Reinsurance(3,886)(2,585)(7,496)(4,667)
Total premiums
$15,334 14,510 30,074 28,699 

The tables below provide a reconciliation of assets by reportable segment to total consolidated assets as presented on the consolidated balance sheets as of the periods indicated. Assets not directly attributable to the Company's reportable segments are reflected as other corporate assets.

June 30, 2026
(In thousands)
InternationalDomesticTotal
Assets:
Segment Assets:
Cash, cash equivalents and investments$1,018,612 409,479 1,428,091 
DAC and COIA134,635 103,227 237,862 
Other assets30,870 22,521 53,391 
Total segment assets$1,184,117 535,227 1,719,344 
Other corporate assets32,716 
Total assets$1,752,060 

December 31, 2025
(In thousands)
InternationalDomesticTotal
Assets:
Segment Assets:
Cash, cash equivalents and investments$1,026,980 415,464 1,442,444 
DAC and COIA133,038 96,494 229,532 
Other assets30,718 17,399 48,117 
Total segment assets$1,190,736 529,357 1,720,093 
Other corporate assets34,667 
Total assets$1,754,760 
GEOGRAPHIC INFORMATION

The following table sets forth the Company's annual total of earned premiums by country of policyholder residence for the periods indicated.
Three Months Ended
June 30,		Six Months Ended
June 30,
(In thousands)
2026202520262025
Area:
United States$19,167 16,983 37,688 33,483 
Colombia6,752 6,461 13,577 13,015 
Taiwan3,047 3,167 6,453 7,053 
Venezuela3,159 3,322 6,337 6,672 
Ecuador3,268 3,366 6,264 6,566 
Argentina3,214 2,923 5,816 5,019 
Other foreign countries9,160 8,995 18,285 18,697 
Reinsurance and change in premium accruals(4,064)(1,829)(10,779)(7,320)
Total premiums$43,703 43,388 83,641 83,185