| Insurance Disclosure [Text Block] |
11. Policyholders’ Account Balances
Policyholders’ Account Balances include annuity contracts and deposit-type liabilities that are composed of supplemental contracts without life contingencies, premium deposit funds, premium growth funds and dividend accumulation funds that are all included in the annuity segment of the Company’s operations.
The composition of annuities and deposit-type liabilities included in Policyholders’ Account Balances as of June 30, 2026 and December 31, 2025 are summarized as follows:
| |
|
(Unaudited)
|
|
|
|
|
|
| |
|
June 30, 2026
|
|
|
December 31, 2025
|
|
|
Annuity
|
|
$ |
432,786,404 |
|
|
$ |
412,013,139 |
|
|
Deposit-type liabilities
|
|
|
|
|
|
|
|
|
|
Dividend accumulations
|
|
|
2,668,398 |
|
|
|
2,558,598 |
|
|
Supplemental contracts with out life contingencies
|
|
|
996,018 |
|
|
|
1,042,149 |
|
|
Premium growth funds
|
|
|
1,015,357 |
|
|
|
1,001,467 |
|
|
Premium deposit funds
|
|
|
653,817 |
|
|
|
505,293 |
|
|
Total deposit-type liabilities
|
|
|
5,333,590 |
|
|
|
5,107,508 |
|
|
Total Policyholders' account balances'
|
|
$ |
438,119,994 |
|
|
$ |
417,120,647 |
|
The range of crediting rates for policyholders’ account balances compared to the guaranteed minimum crediting rates as of June 30, 2026 and December 31, 2025 are presented as follows:
|
(Unaudited) June 30, 2026
|
|
|
Range of
Guaranteed
Minimum Crediting
Rates
|
|
|
At Guaranteed
Minimum
|
|
|
1 Basis Point to 50
Basis Points
Above Guaranteed
Minimum
|
|
|
51 Basis Point to
150 Basis Points
Above Guaranteed
Minimum
|
|
|
Greater Than 150
Basis Points
Above Guaranteed
Minimum
|
|
|
Total
|
|
|
Less than 2.00%
|
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
| 2.00% to 2.99% |
|
|
|
262,441 |
|
|
|
635,155 |
|
|
|
1,149,360 |
|
|
|
1,464,679 |
|
|
|
3,511,635 |
|
| 3.00% to 3.99% |
|
|
|
31,901,577 |
|
|
|
6,577,581 |
|
|
|
16,352,652 |
|
|
|
12,583,544 |
|
|
|
67,415,354 |
|
|
Greater than 4.00%
|
|
|
|
36,715,056 |
|
|
|
(87 |
) |
|
|
27,215,101 |
|
|
|
295,871,303 |
|
|
|
359,801,373 |
|
|
Total
|
|
|
$ |
68,879,074 |
|
|
$ |
7,212,649 |
|
|
$ |
44,717,113 |
|
|
$ |
309,919,526 |
|
|
$ |
430,728,362 |
|
|
December 31, 2025
|
|
|
Range of
Guaranteed
Minimum Crediting
Rates
|
|
|
At Guaranteed
Minimum
|
|
|
1 Basis Point to 50
Basis Points
Above Guaranteed
Minimum
|
|
|
51 Basis Point to
150 Basis Points
Above Guaranteed
Minimum
|
|
|
Greater Than 150
Basis Points
Above Guaranteed
Minimum
|
|
|
Total
|
|
|
Less than 2.00%
|
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
| 2.00% to 2.99% |
|
|
|
116,178 |
|
|
|
729,836 |
|
|
|
1,183,315 |
|
|
|
2,391,536 |
|
|
|
4,420,865 |
|
| 3.00% to 3.99% |
|
|
|
35,319,569 |
|
|
|
6,971,247 |
|
|
|
21,064,564 |
|
|
|
17,902,561 |
|
|
|
81,257,941 |
|
|
Greater than 4.00%
|
|
|
|
36,815,487 |
|
|
|
(87 |
) |
|
|
28,302,393 |
|
|
|
259,073,966 |
|
|
|
324,191,759 |
|
|
Total
|
|
|
$ |
72,251,234 |
|
|
$ |
7,700,996 |
|
|
$ |
50,550,272 |
|
|
$ |
279,368,063 |
|
|
$ |
409,870,565 |
|
Reconciliations of policyholders' account balances with guaranteed minimum crediting rates to total policyholders' account balances as of June 30, 2026 and December 31, 2025, are presented as follows:
| |
|
(Unaudited)
|
|
|
|
|
| |
|
June 30, 2026
|
|
|
December 31, 2025
|
|
|
Policyholders' account balances with guaranteed minimum crediting rates
|
|
|
430,728,362 |
|
|
|
409,870,565 |
|
| |
|
|
|
|
|
|
|
|
|
Deposit-type liabilities
|
|
|
5,333,590 |
|
|
|
5,107,508 |
|
|
Policyholders' account balances ceded
|
|
|
1,990,852 |
|
|
|
2,075,077 |
|
|
Accrued interest credited to policyholders' account balances
|
|
|
67,190 |
|
|
|
67,497 |
|
|
Total additions
|
|
|
7,391,632 |
|
|
|
7,250,082 |
|
|
Total policyholders' account balances
|
|
|
438,119,994 |
|
|
|
417,120,647 |
|
The change in the policyholders account balances for the six months ended June 30, 2026 and 2025 are summarized as follows:
| |
|
(Unaudited)
|
|
| |
|
June 30, 2026
|
|
|
June 30, 2025
|
|
|
Policyholders' account balances, beginning
|
|
$ |
417,120,647 |
|
|
$ |
431,190,092 |
|
|
Deposits
|
|
|
40,372,473 |
|
|
|
18,392,643 |
|
|
Withdrawals
|
|
|
(35,590,495 |
) |
|
|
(32,789,147 |
) |
|
Funds withheld under coinsurance agreement
|
|
|
6,491,712 |
|
|
|
5,750,119 |
|
|
Interest credited
|
|
|
9,725,657 |
|
|
|
9,589,981 |
|
|
Increase (decrease)
|
|
|
20,999,347 |
|
|
|
943,596 |
|
|
Policyholders' account balances, ending
|
|
$ |
438,119,994 |
|
|
$ |
432,133,688 |
|
| |
|
|
|
|
|
|
|
|
|
Weighted Average Crediting Rate
|
|
|
4.55 |
% |
|
|
4.44 |
% |
|
Cash surrender value
|
|
$ |
413,709,420 |
|
|
$ |
407,163,247 |
|
|