| Dec'18 | Dec'17 | |||||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net loss | ||||||
-4,826 | -1,908 | |||||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Realized investment gains, net | ||||||
878 | 2,228 | |||||
Amortization on investments | ||||||
-54 | -42 | |||||
Depreciation | ||||||
228 | 271 | |||||
Stock-based compensation | ||||||
34 | - | |||||
Deferred insurance acquisition costs | ||||||
1,979 | 2,437 | |||||
Deferred sales inducement costs | ||||||
381 | 545 | |||||
Interest and amortization of deferred acquisition and sales inducement costs | ||||||
1,645 | 2,108 | |||||
Change in value of derivatives and other | ||||||
-368 | 155 | |||||
Change in accrued investment income | ||||||
21 | 54 | |||||
Change in receivables | ||||||
-39 | -37 | |||||
Change in reinsurance recoverable | ||||||
-171 | 1,620 | |||||
Change in prepaid reinsurance premiums | ||||||
60 | 434 | |||||
Change in policy benefits | ||||||
-549 | -1,053 | |||||
Change in unearned revenue | ||||||
-20 | -8 | |||||
Change in deferred reinsurance settlements | ||||||
308 | -1,437 | |||||
Change in other | ||||||
929 | -614 | |||||
Net cash used in operating activities | ||||||
-7,520 | -6,017 | |||||
Cash flows from investing activities: | ||||||
Proceeds from investments sold or matured: | ||||||
Fixed maturity securities | ||||||
26,633 | 23,130 | |||||
Equity securities | ||||||
261 | 4,043 | |||||
Derivatives | ||||||
443 | 154 | |||||
Policy loans | ||||||
-271 | -206 | |||||
Costs of investments purchased: | ||||||
Fixed maturity securities | ||||||
29,753 | 35,816 | |||||
Equity securities | ||||||
71 | 327 | |||||
Derivatives | ||||||
451 | 255 | |||||
Real estate additions | ||||||
107 | 84 | |||||
Purchase of property and equipment | ||||||
99 | 41 | |||||
Net cash used in investing activities | ||||||
-2,873 | -8,990 | |||||
Cash flows from financing activities: | ||||||
Policyholder account balances: | ||||||
Deposits | ||||||
15,195 | 19,300 | |||||
Withdrawals | ||||||
9,019 | 8,482 | |||||
Net transfers from separate accounts | ||||||
36 | -115 | |||||
Receipts from promissory note | ||||||
1,050 | - | |||||
Net proceeds received from issuance of shares of common stock | ||||||
32,298 | - | |||||
Net cash provided by financing activities | ||||||
39,560 | 10,703 | |||||
Net decrease in cash | ||||||
29,167 | -4,304 | |||||
Supplemental disclosures of cash flow information | ||||||
Cash paid during the year for: | ||||||
Interest expense | ||||||
13 | - | |||||
Income taxes | ||||||
20 | 34 | |||||
Supplemental non-cash activity: | ||||||
Deferral of sales inducements | ||||||
381 | 545 | |||||
IPO expenses accrued not paid | ||||||
270 | - | |||||
Conversion of promissory note to common stock | ||||||
1,050 | - | |||||