this estimated range includes projected toll charges and fees as well as increased claims liability for past claims , reserves increases to bring policies into compliance and other probable liabilities resulting from this tax compliance matter . our estimated range reflects the uncertainties with respect to the required course of action and other matters unknown at this time . currently , management believes there is not a specific 24 citizens , inc. and consolidated subsidiaries estimable amount for these probable liabilities and expenses which is more likely than other specific amounts within our estimated range . the process of determining our estimated range was a complex undertaking and involved management 's judgment based upon a variety of factors known at the time . given the number of factors considered and the significant variables assumed in establishing our estimated range , actual amounts incurred may exceed our reserve and the high end of our estimated range of expenses and liabilities . in addition , there is a reasonable possibility that we will incur other expenses related to this issue in 2015 , including consulting fees and potential system costs . we are not able to reasonably estimate these amounts as of the reporting date . current financial highlights the 2014 financial results are driven by our conservative business management and traditional life product sales . the interest rate environment continues to impact our results and our industry as investment yields are an integral component of our business operations . our assets grew $ 201 million in 2014 and totaled $ 1.4 billion as of december 31 , 2014 . total stockholders ' equity increased from $ 245.8 million at december 31 , 2013 , to $ 258.4 million at december 31 , 2014 due primarily to changes in unrealized gains on securities marked to market . insurance premiums rose 7.0 % and 3.7 % in 2014 and 2013 , respectively , primarily from our life insurance segment , which increased $ 9.9 million from amounts reported in 2013 . net investment income increased 12.2 % and 15.4 % for 2014 and 2013 , respectively , as rates have risen in 2014 compared to the prior two years . the average yield on the consolidated investment portfolio has changed from a yield of 3.81 % in 2012 up to 4.11 % in 2013 and increasing to a yield of 4.21 % in 2014 as rates have risen slightly and our new investments have been focused on municipals and corporates . the increase in the investment asset balances due to premium revenue growth has also contributed to the increase in net investment income . realized net investment losses during 2014 and 2013 of $ 19 thousand and $ 0.3 million were recognized due to losses of $ 0.4 million which were recorded on equity mutual fund issuers in both 2014 and 2013 , offset by gains from bond securities . 2012 gains resulted primarily from sales of securities that had been previously impaired due to declines in market values . other-than-temporary impairments on investment securities and other long-term assets were recorded in 2014 and 2012 of $ 427,000 and $ 1,319,000 , respectively , and are reported as realized losses . during 2014 , claims and surrenders expense increased 6.0 % from the comparable period in 2013 primarily due to an increase in surrender benefits in the life segment compared to the 2013 levels . the home service segment was impacted in 2012 by hurricane isaac which hit the louisiana coast on august 29 , 2012 and caused increased property claims . 2014 change in reserves resulted in liability increases resulting from increased sales of endowment products that build up reserves at a faster pace than whole life longer term mortality based products . additionally , the sustained low interest rate environment also results in a higher reserve development due to the lower interest yield assumptions over the past several years . general expense increased in 2014 by $ 10.0 million primarily due to the tax compliance issue noted above relating to product qualification under irc section 7702 and remediation costs that have been identified . we completed the acquisition of mglic in the first quarter of 2014 and the related results have been included in our financial results . mglic is now a wholly owned subsidiary of splic and is reported in the home service segment . life insurance . for over thirty-five years , cica and its predecessors have accepted policy applications from foreign nationals for u.s. dollar-denominated ordinary whole life insurance and endowment policies . we make our insurance products available using third-party marketing organizations and independent marketing consultants . 25 citizens , inc. and consolidated subsidiaries endowment product sales have been on the rise and represented approximately 76.1 % of new sales . the company offers a ten , fifteen and twenty year endowment and our top selling endowment is a product that matures at age sixty-five . we also introduced a new product in 2012 that is an endowment at age eighteen with a payout over four or five years . through the domestic market of our life insurance segment , we provide ordinary whole life , credit life insurance , and final expense policies to middle and lower income families and individuals in certain markets in the mountain west , mid-west and southern u.s. the majority of our domestic revenues are generated by the policies of domestic life insurance companies we have acquired since 1987. home service insurance . we provide final expense ordinary and industrial life insurance to middle and lower income individuals in louisiana , mississippi and arkansas . our policies in this segment are sold and serviced through a home service marketing distribution system utilizing employee-agents who work on a route system to collect premiums and service policyholders , and through networks of funeral homes that collect premiums and provide personal policyholder service . story_separator_special_tag replace_table_token_13_th endowment sales represent a significant portion of new business sales internationally , as these products continue to exceed our whole life sales in the current markets . in addition , most of our life insurance policies contain a policy loan provision , which allows the policyholder to use cash value of a policy to pay premiums . the policy loan asset balance increased 10.6 % year over year . the following table sets forth , by country , our direct premiums from our international life insurance business for the periods indicated . our international business and premium collections could be impacted by future changes relative to laws , regulations or economic events in the countries from which we accept applications . replace_table_token_14_th we continue to report strong first year and renewal premiums in our top producing countries as noted above , however this business is dependent on our clients having access to u.s. dollars . our international business and premium collections could be impacted by future changes relative to laws , regulations or economic events in the countries from which we accept applications . currently venezuela is experiencing civil unrest due to local demonstrations against crime , corruption and soaring inflation . in addition , there could be law changes in countries that may impact activities of our independent consultants . see `` item 1a . risk factors `` on pages 7 and 13 for additional information . 33 citizens , inc. and consolidated subsidiaries the following table sets forth our direct premiums by state from our domestic business for the periods indicated . replace_table_token_15_th a number of domestic life insurance companies we acquired had blocks of accident and health insurance policies . we entered a coinsurance agreement with an unaffiliated insurance company , unified life insurance company ( `` unified `` ) , under which it assumes substantially all of our accident and health policies . the coinsurance agreement allows for full assumption by unified of this business upon approval by state insurance authorities . the decrease in premiums for 2014 and 2013 was due to the fact that unified received state approval in many states and has obtained over 98 % assumption of all policies through 2014 . net investment income . net investment income has increased as the annual yield has increased 19 basis points in this segment from 2013 , as discussed in the consolidated results of operations above . replace_table_token_16_th realized investment gains ( losses ) , net . realized losses of $ 0.2 million in 2014 and 2013 and gains of 0.5 million in 2012 were recognized due to the write-down and sale of mutual fund holdings in 2014 and 2013 and due to disposals in 2012 of previously impaired equity mutual funds . claims and surrenders . a breakout of claims and surrender benefits is detailed below . replace_table_token_17_th 34 citizens , inc. and consolidated subsidiaries death claims expense decreased 3.0 % in 2014 and decreased 21.1 % in 2013 compared to 2012 . mortality experience has reflected improved results the past two years which is likely due to increased endowment sales and a client base that results in lower deaths reported . mortality experience is closely monitored by the company as a key performance indicator and these amounts were within expected levels . the increase in surrender expense is primarily related to our international business and is expected to increase over time due to the aging of this block of business . the majority of policy surrender benefits paid is attributable to our international business and was related to policies that have been in force over fifteen years , where surrender charges are no longer applicable . endowment benefit expense results from the election by policyholders of a product feature that provides an annual benefit . this is a fixed benefit over the life of the contract , and this expense will increase with new sales and improved persistency . other policy benefits increased in the current year due primarily to premium deposits and dividend accumulations policyholder liability accounts which have increased as these amounts credit a 4 % interest rate , making them an attractive deposit in this low interest rate environment . increase in future policy benefit reserves . policy benefit reserves in 2014 increased compared to the same period in 2013 , primarily from the effect of the current low interest rate environment on reserve development for policies issued in the last few years which have higher reserve build up compared to prior issue years . the accounting guidance of long duration contracts we sell requires the company to “ lock in ” the original assumptions such as mortality , interest , surrenders and expenses at the time the initial policies are written , therefore gains or losses attributable to actual experience that differs from the original assumptions flows through the income statement in the period where in the differences occur . in addition , reserves have risen year over year for all periods presented due to the increased sales of endowment products , which build up reserve balances more quickly compared to other life product sales . endowment sales totaled approximately $ 16.9 million , $ 14.3 million and $ 14.3 million , representing approximately 76.1 % , 73.0 % and 76.0 % of total new first year premium in 2014 , 2013 , and 2012 , respectively . policyholder dividends . policyholder dividends have risen at a rate that corresponds with the growth rate in new international life insurance premiums . the company issues long duration participating policies to foreign residents that are expected to pay dividends to policyholders based upon actual experience . policyholder dividends are factored into the premiums and have no impact on profitability . capitalization and amortization of deferred policy acquisition costs . capitalized costs increased , as commission related costs have increased in the current year compared to 2013 . amortization of dac increased in the current year by 13.1 %

liquidity and capital resources liquidity refers to a company 's ability to generate sufficient cash flows to meet the needs of its operations . liquidity is managed on insurance operations to ensure stable and reliable sources of cash flows to meet obligations and is provided by a variety of sources . our liquidity requirements are met primarily by funds provided from operations . premium deposits and revenues , investment income and investment maturities are the primary sources of funds , while investment purchases , policy benefits , and operating expenses are the primary uses of funds . we historically have not had to liquidate investments to provide cash flow , and there were no liquidity issues in 2014 or 2013 . our investments consist of 66.4 % of marketable debt securities and 6.6 % of equity securities classified as available-for-sale that could be readily converted to cash for liquidity needs . a primary liquidity concern is the risk of an extraordinary level of early policyholder withdrawals . we include provisions within our insurance policies , such as surrender charges , that help limit and discourage early withdrawals . since these contractual withdrawals , as well as the level of surrenders experienced , have been largely consistent with our assumptions in asset liability management , our associated cash outflows have , historically , not had an adverse impact on our overall liquidity .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources liquidity refers to a company 's ability to generate sufficient cash flows to meet the needs of its operations . liquidity is managed on insurance operations to ensure stable and reliable sources of cash flows to meet obligations and is provided by a variety of sources . our liquidity requirements are met primarily by funds provided from operations . premium deposits and revenues , investment income and investment maturities are the primary sources of funds , while investment purchases , policy benefits , and operating expenses are the primary uses of funds . we historically have not had to liquidate investments to provide cash flow , and there were no liquidity issues in 2014 or 2013 . our investments consist of 66.4 % of marketable debt securities and 6.6 % of equity securities classified as available-for-sale that could be readily converted to cash for liquidity needs . a primary liquidity concern is the risk of an extraordinary level of early policyholder withdrawals . we include provisions within our insurance policies , such as surrender charges , that help limit and discourage early withdrawals . since these contractual withdrawals , as well as the level of surrenders experienced , have been largely consistent with our assumptions in asset liability management , our associated cash outflows have , historically , not had an adverse impact on our overall liquidity .
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 Suspicious Activity Report : this estimated range includes projected toll charges and fees as well as increased claims liability for past claims , reserves increases to bring policies into compliance and other probable liabilities resulting from this tax compliance matter . our estimated range reflects the uncertainties with respect to the required course of action and other matters unknown at this time . currently , management believes there is not a specific 24 citizens , inc. and consolidated subsidiaries estimable amount for these probable liabilities and expenses which is more likely than other specific amounts within our estimated range . the process of determining our estimated range was a complex undertaking and involved management 's judgment based upon a variety of factors known at the time . given the number of factors considered and the significant variables assumed in establishing our estimated range , actual amounts incurred may exceed our reserve and the high end of our estimated range of expenses and liabilities . in addition , there is a reasonable possibility that we will incur other expenses related to this issue in 2015 , including consulting fees and potential system costs . we are not able to reasonably estimate these amounts as of the reporting date . current financial highlights the 2014 financial results are driven by our conservative business management and traditional life product sales . the interest rate environment continues to impact our results and our industry as investment yields are an integral component of our business operations . our assets grew $ 201 million in 2014 and totaled $ 1.4 billion as of december 31 , 2014 . total stockholders ' equity increased from $ 245.8 million at december 31 , 2013 , to $ 258.4 million at december 31 , 2014 due primarily to changes in unrealized gains on securities marked to market . insurance premiums rose 7.0 % and 3.7 % in 2014 and 2013 , respectively , primarily from our life insurance segment , which increased $ 9.9 million from amounts reported in 2013 . net investment income increased 12.2 % and 15.4 % for 2014 and 2013 , respectively , as rates have risen in 2014 compared to the prior two years . the average yield on the consolidated investment portfolio has changed from a yield of 3.81 % in 2012 up to 4.11 % in 2013 and increasing to a yield of 4.21 % in 2014 as rates have risen slightly and our new investments have been focused on municipals and corporates . the increase in the investment asset balances due to premium revenue growth has also contributed to the increase in net investment income . realized net investment losses during 2014 and 2013 of $ 19 thousand and $ 0.3 million were recognized due to losses of $ 0.4 million which were recorded on equity mutual fund issuers in both 2014 and 2013 , offset by gains from bond securities . 2012 gains resulted primarily from sales of securities that had been previously impaired due to declines in market values . other-than-temporary impairments on investment securities and other long-term assets were recorded in 2014 and 2012 of $ 427,000 and $ 1,319,000 , respectively , and are reported as realized losses . during 2014 , claims and surrenders expense increased 6.0 % from the comparable period in 2013 primarily due to an increase in surrender benefits in the life segment compared to the 2013 levels . the home service segment was impacted in 2012 by hurricane isaac which hit the louisiana coast on august 29 , 2012 and caused increased property claims . 2014 change in reserves resulted in liability increases resulting from increased sales of endowment products that build up reserves at a faster pace than whole life longer term mortality based products . additionally , the sustained low interest rate environment also results in a higher reserve development due to the lower interest yield assumptions over the past several years . general expense increased in 2014 by $ 10.0 million primarily due to the tax compliance issue noted above relating to product qualification under irc section 7702 and remediation costs that have been identified . we completed the acquisition of mglic in the first quarter of 2014 and the related results have been included in our financial results . mglic is now a wholly owned subsidiary of splic and is reported in the home service segment . life insurance . for over thirty-five years , cica and its predecessors have accepted policy applications from foreign nationals for u.s. dollar-denominated ordinary whole life insurance and endowment policies . we make our insurance products available using third-party marketing organizations and independent marketing consultants . 25 citizens , inc. and consolidated subsidiaries endowment product sales have been on the rise and represented approximately 76.1 % of new sales . the company offers a ten , fifteen and twenty year endowment and our top selling endowment is a product that matures at age sixty-five . we also introduced a new product in 2012 that is an endowment at age eighteen with a payout over four or five years . through the domestic market of our life insurance segment , we provide ordinary whole life , credit life insurance , and final expense policies to middle and lower income families and individuals in certain markets in the mountain west , mid-west and southern u.s. the majority of our domestic revenues are generated by the policies of domestic life insurance companies we have acquired since 1987. home service insurance . we provide final expense ordinary and industrial life insurance to middle and lower income individuals in louisiana , mississippi and arkansas . our policies in this segment are sold and serviced through a home service marketing distribution system utilizing employee-agents who work on a route system to collect premiums and service policyholders , and through networks of funeral homes that collect premiums and provide personal policyholder service . story_separator_special_tag replace_table_token_13_th endowment sales represent a significant portion of new business sales internationally , as these products continue to exceed our whole life sales in the current markets . in addition , most of our life insurance policies contain a policy loan provision , which allows the policyholder to use cash value of a policy to pay premiums . the policy loan asset balance increased 10.6 % year over year . the following table sets forth , by country , our direct premiums from our international life insurance business for the periods indicated . our international business and premium collections could be impacted by future changes relative to laws , regulations or economic events in the countries from which we accept applications . replace_table_token_14_th we continue to report strong first year and renewal premiums in our top producing countries as noted above , however this business is dependent on our clients having access to u.s. dollars . our international business and premium collections could be impacted by future changes relative to laws , regulations or economic events in the countries from which we accept applications . currently venezuela is experiencing civil unrest due to local demonstrations against crime , corruption and soaring inflation . in addition , there could be law changes in countries that may impact activities of our independent consultants . see `` item 1a . risk factors `` on pages 7 and 13 for additional information . 33 citizens , inc. and consolidated subsidiaries the following table sets forth our direct premiums by state from our domestic business for the periods indicated . replace_table_token_15_th a number of domestic life insurance companies we acquired had blocks of accident and health insurance policies . we entered a coinsurance agreement with an unaffiliated insurance company , unified life insurance company ( `` unified `` ) , under which it assumes substantially all of our accident and health policies . the coinsurance agreement allows for full assumption by unified of this business upon approval by state insurance authorities . the decrease in premiums for 2014 and 2013 was due to the fact that unified received state approval in many states and has obtained over 98 % assumption of all policies through 2014 . net investment income . net investment income has increased as the annual yield has increased 19 basis points in this segment from 2013 , as discussed in the consolidated results of operations above . replace_table_token_16_th realized investment gains ( losses ) , net . realized losses of $ 0.2 million in 2014 and 2013 and gains of 0.5 million in 2012 were recognized due to the write-down and sale of mutual fund holdings in 2014 and 2013 and due to disposals in 2012 of previously impaired equity mutual funds . claims and surrenders . a breakout of claims and surrender benefits is detailed below . replace_table_token_17_th 34 citizens , inc. and consolidated subsidiaries death claims expense decreased 3.0 % in 2014 and decreased 21.1 % in 2013 compared to 2012 . mortality experience has reflected improved results the past two years which is likely due to increased endowment sales and a client base that results in lower deaths reported . mortality experience is closely monitored by the company as a key performance indicator and these amounts were within expected levels . the increase in surrender expense is primarily related to our international business and is expected to increase over time due to the aging of this block of business . the majority of policy surrender benefits paid is attributable to our international business and was related to policies that have been in force over fifteen years , where surrender charges are no longer applicable . endowment benefit expense results from the election by policyholders of a product feature that provides an annual benefit . this is a fixed benefit over the life of the contract , and this expense will increase with new sales and improved persistency . other policy benefits increased in the current year due primarily to premium deposits and dividend accumulations policyholder liability accounts which have increased as these amounts credit a 4 % interest rate , making them an attractive deposit in this low interest rate environment . increase in future policy benefit reserves . policy benefit reserves in 2014 increased compared to the same period in 2013 , primarily from the effect of the current low interest rate environment on reserve development for policies issued in the last few years which have higher reserve build up compared to prior issue years . the accounting guidance of long duration contracts we sell requires the company to “ lock in ” the original assumptions such as mortality , interest , surrenders and expenses at the time the initial policies are written , therefore gains or losses attributable to actual experience that differs from the original assumptions flows through the income statement in the period where in the differences occur . in addition , reserves have risen year over year for all periods presented due to the increased sales of endowment products , which build up reserve balances more quickly compared to other life product sales . endowment sales totaled approximately $ 16.9 million , $ 14.3 million and $ 14.3 million , representing approximately 76.1 % , 73.0 % and 76.0 % of total new first year premium in 2014 , 2013 , and 2012 , respectively . policyholder dividends . policyholder dividends have risen at a rate that corresponds with the growth rate in new international life insurance premiums . the company issues long duration participating policies to foreign residents that are expected to pay dividends to policyholders based upon actual experience . policyholder dividends are factored into the premiums and have no impact on profitability . capitalization and amortization of deferred policy acquisition costs . capitalized costs increased , as commission related costs have increased in the current year compared to 2013 . amortization of dac increased in the current year by 13.1 %

