SEGMENTS The Companys property and casualty insurance operations comprise one business segment. The property and casualty insurance segment primarily underwrites home insurance coverage with primary lines of business consisting of dwelling fire and extended coverage, homeowners (including mobile homeowners) and other liability. Management organizes the business utilizing a niche strategy focusing on lower valued dwellings and older homes that can be difficult to insure in the standard insurance market. Our chief decision makers (Chief Executive Officer, Chief Financial Officer and subsidiary President) review results and operating plans making decisions on resource allocations on a company-wide basis. The Companys products are primarily produced through independent agents within the states in which we operate. The Companys life and accident and health operations comprise the second business segment. The life and accident and health insurance segment consists of two lines of business: traditional life insurance and supplemental accident and health insurance. Total assets by industry segment at September 30, 2020 and December 31, 2019 are summarized below: ($ in thousands) Assets by industry segment Total P&amp;C Insurance Operations Life Insurance Operations Non-Insurance Operations September 30, 2020 $ 155,556 $ 84,280 $ 65,566 $ 5,710 December 31, 2019 $ 153,934 $ 83,917 $ 65,605 $ 4,412 Net income (loss) by business segment for the three months ended September 30, 2020 and 2019 is summarized below: ($ in thousands) Three months ended September 30, 2020 P&amp;C Insurance Operations Life Insurance Operations Non-Insurance Operations Inter- company Eliminations Total REVENUE Net premiums earned $ 13,786 $ 1,503 $  $  $ 15,289 Net investment income 389 614 16 (135) 884 Investment gains 678 747 5  1,430 Other income 162 334 274 (608) 162 15,015 3,198 295 (743) 17,765 BENEFITS AND EXPENSES Policyholder benefits paid 11,851 1,646  (194) 13,303 Amortization of deferred policy acquisition costs 681 155   836 Commissions 1,431 62   1,493 General and administrative expenses 2,027 554 280 (549) 2,312 Taxes, licenses and fees 564 40   604 Interest expense  10 190  200 16,554 2,467 470 (743) 18,748 Income (Loss) Before Income Taxes (1,539) 731 (175)  (983) INCOME TAX EXPENSE (BENEFIT) (347) 179 (37)  (205) Net Income (Loss) $ (1,192) $ 552 $ (138) $  $ (778) ($ in thousands) Three months ended September 30, 2019 P&amp;C Insurance Operations Life Insurance Operations Non-Insurance Operations Inter-company Eliminations Total REVENUE Net premiums earned $ 13,628 $ 1,581 $  $  $ 15,209 Net investment income 404 708 12 (135) 989 Investment gains (losses) (50) (68) 1  (117) Other income 148 226 266 (492) 148 14,130 2,447 279 (627) 16,229 BENEFITS AND EXPENSES Policyholder benefits paid 8,564 1,303  (117) 9,750 Amortization of deferred policy acquisition costs 681 124   805 Commissions 1,919 87   2,006 General and administrative expenses 2,070 531 135 (510) 2,226 Taxes, licenses and fees 528 76   604 Interest expense  13 280  293 13,762 2,134 415 (627) 15,684 Income (Loss) Before Income Taxes 368 313 (136)  545 INCOME TAX EXPENSE (BENEFIT) 76 67 (28)  115 Net Income (Loss) $ 292 $ 246 $ (108) $  $ 430 Net income (loss) by business segment for the nine months ended September 30, 2020 and 2019 is summarized below: ($ in thousands) Nine months ended September 30, 2020 P&amp;C Insurance Operations Life Insurance Operations Non-Insurance Operations Inter- company Eliminations Total REVENUE Net premiums earned $ 40,996 $ 4,420 $  $  $ 45,416 Net investment income 1,169 2,003 42 (405) 2,809 Investment gains (losses) 693 296 (1)  988 Other income 449 921 796 (1,716) 450 43,307 7,640 837 (2,121) 49,663 BENEFITS AND EXPENSES Policyholder benefits paid 37,264 3,908  (550) 40,622 Amortization of deferred policy acquisition costs 2,043 706   2,749 Commissions 5,411 204   5,615 General and administrative expenses 5,913 1,396 461 (1,571) 6,199 Taxes, licenses and fees 1,740 179   1,919 Interest expense  29 631  660 52,371 6,422 1,092 (2,121) 57,764 Income (Loss) Before Income Taxes (9,064) 1,218 (255)  (8,101) INCOME TAX EXPENSE (BENEFIT) (1,937) 254 (54)  (1,737) Net Income (Loss) $ (7,127) $ 964 $ (201) $  $ (6,364) ($ in thousands) Nine months ended September 30, 2019 P&amp;C Insurance Operations Life Insurance Operations Non-Insurance Operations Inter-company Eliminations Total REVENUE Net premiums earned $ 40,356 $ 4,561 $  $  $ 44,917 Net investment income 1,255 2,022 36 (405) 2,908 Investment gains 1,991 109 20  2,120 Other income 430 689 785 (1,464) 440 44,032 7,381 841 (1,869) 50,385 BENEFITS AND EXPENSES Policyholder benefits paid 26,112 3,916  (355) 29,673 Amortization of deferred policy acquisition costs 2,043 581   2,624 Commissions 5,795 222   6,017 General and administrative expenses 6,200 1,471 817 (1,514) 6,974 Taxes, licenses and fees 1,659 231   1,890 Interest expense  34 845  879 41,809 6,455 1,662 (1,869) 48,057 Income (Loss) Before Income Taxes 2,223 926 (821)  2,328 INCOME TAX EXPENSE (BENEFIT) 33 186 (177)  42 Net Income (Loss) $ 2,190 $ 740 $ (644) $  $ 2,286 The following table presents the Companys gross and net premiums written for the property and casualty segment and the life and accident and health segment for the three and nine months ended September 30, 2020 and 2019, respectively: ($ in thousands) Three months ended September 30, Nine months ended September 30, 2020 2019 2020 2019 Life, accident and health operations premiums written: Traditional life insurance $ 1,003 $ 1,062 $ 3,086 $ 3,151 Accident and health insurance 538 623 1,330 1,376 Gross life, accident and health 1,541 1,685 4,416 4,527 Reinsurance premium ceded (14) (11) (71) (64) Net life, accident and health premiums written $ 1,527 $ 1,674 $ 4,345 $ 4,463 Property and Casualty operations premiums written: Dwelling fire &amp; extended coverage $ 10,316 $ 9,927 $ 31,710 $ 30,266 Homeowners (Including mobile homeowners) 5,205 5,235 15,933 16,098 Other liability 556 561 1,747 1,743 Gross property and casualty 16,077 15,723 49,390 48,107 Reinsurance premium ceded (1,999) (1,930) (5,547) (5,155) Net property and casualty written $ 14,078 $ 13,793 $ 43,843 $ 42,952 Consolidated gross premiums written $ 17,618 $ 17,408 $ 53,806 $ 52,634 Reinsurance premium ceded (2,013) (1,941) (5,618) (5,219) Consolidated net premiums written $ 15,605 $ 15,467 $ 48,188 $ 47,415 The following table presents the Companys gross and net premiums earned for the property and casualty segment and the life and accident and health segment for the three and nine months ended September 30, 2020 and 2019, respectively: ($ in thousands) Three months ended September 30, Nine months ended September 30, 2020 2019 2020 2019 Life, accident and health operations premiums earned: Traditional life insurance $ 978 $ 1,008 $ 3,165 $ 3,249 Accident and health insurance 539 584 1,326 1,376 Gross life, accident and health 1,517 1,592 4,491 4,625 Reinsurance premium ceded (14) (11) (71) (64) Net life, accident and health premiums earned $ 1,503 $ 1,581 $ 4,420 $ 4,561 Property and Casualty operations premiums earned: Dwelling fire &amp; extended coverage $ 10,103 $ 9,644 $ 29,591 $ 28,401 Homeowners (Including mobile homeowners) 5,120 5,178 15,281 15,585 Other liability 562 560 1,671 1,654 Gross property and casualty 15,785 15,382 46,543 45,640 Reinsurance premium ceded (1,999) (1,754) (5,547) (5,284) Net property and casualty earned $ 13,786 $ 13,628 $ 40,996 $ 40,356 Consolidated gross premiums earned $ 17,302 $ 16,974 $ 51,034 $ 50,265 Reinsurance premium ceded (2,013) (1,765) (5,618) (5,348) Consolidated net premiums earned $ 15,289 $ 15,209 $ 45,416 $ 44,917