8 unchanged sentences
Investments - Valuation of Investments in the notes to our consolidated financial statements for further discussion.
−Removed: June 30, 2020 | 10-Q 54
−Removed: Table of Contents DRAFT 6
+Added: September 30, 2020 | 10-Q 57
CITIZENS, INC.
The following table summarizes net unrealized gains and losses as of the dates indicated.
−Removed: June 30, 2020 December 31, 2019
+Added: September 30, 2020 December 31, 2019
(In thousands) Amortized
4 unchanged sentences
MARKET RISK RELATED TO INTEREST RATES
−Removed: Our exposure to interest rate changes results from our significant holdings of fixed maturity investments, which comprised 92.4% of our investment portfolio based on carrying value as of June 30, 2020.
+Added: Our exposure to interest rate changes results from our significant holdings of fixed maturity investments, which comprised 91.9% of our investment portfolio based on carrying value as of September 30, 2020.
These investments are mainly exposed to changes in U.S.
5 unchanged sentences
We assess interest rate sensitivity annually with respect to our available-for-sale fixed maturities investments using hypothetical test scenarios that assume either upward or downward shifts in the prevailing interest rates.
−Removed: The changes in fair values of our fixed maturity and equity securities as of June 30, 2020 were within the expected range of this analysis.
+Added: The changes in fair values of our fixed maturity and equity securities as of September 30, 2020 were within the expected range of this analysis.
Changes in interest rates typically have a sizable effect on the fair values of our fixed maturity and equity securities.
The interest rate of the ten-year U.S.
−Removed: Treasury bond decreased to 0.66% at June 30, 2020 from 1.92% at December 31, 2019.
−Removed: Net unrealized gains on fixed maturity securities totaled $121.7 million at June 30, 2020, compared to $84.1 million at December 31, 2019.
+Added: Treasury bond decreased to 0.68% at September 30, 2020 from 1.92% at December 31, 2019.
Generally, fair values of our securities increase in a declining interest rate environment, however, economic and other credit events can have a significant impact on the fair values of our securities.
2 unchanged sentences
There are no fixed maturities or other investments classified as trading instruments.
−Removed: All of the Company's fixed maturity securities were classified as available-for-sale at June 30, 2020.
−Removed: At June 30, 2020 and December 31, 2019, we had no investments in derivative instruments, nor did we have any subprime or collateralized debt obligation risk.
+Added: All of the Company's fixed maturity securities were classified as available-for-sale at September 30, 2020.
+Added: At September 30, 2020 and December 31, 2019, we had no investments in derivative instruments, nor did we have any subprime or collateralized debt obligation risk.
MARKET RISK RELATED TO EQUITY PRICES
Changes in the level or volatility of equity prices affect the value of equity securities we hold as investments.
−Removed: Our equity investments portfolio represented 1.3% of our total investments based upon carrying value at June 30, 2020, with 70.6% invested in diversified equity and bond mutual funds.
+Added: Our equity investments portfolio represented 1.3% of our total investments based upon carrying value at September 30, 2020, with 93.3% invested in diversified equity and bond mutual funds.
See further discussion in Note 5.
Investments in the notes to our consolidated financial statements.
−Removed: June 30, 2020 | 10-Q 55
−Removed: Table of Contents DRAFT 6
+Added: September 30, 2020 | 10-Q 58
CITIZENS, INC.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.