Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2021

For the years ended December 31, 2021 and 2020, the pooling share percentages by insurance company were:

	Pool Percentage
Nodak Insurance Company		66.0	%
American West Insurance Company		7.0	%
Primero Insurance Company		3.0	%
Battle Creek Mutual Insurance Company		2.0	%
Direct Auto Insurance Company		13.0	%
Westminster American Insurance Company		9.0	%
Total		100.0	%

Schedule of illustrates the impact of consolidating Battle Creek into our consolidated balance sheets and statements of operations prior to intercompany eliminations

The following tables disclose the standalone balance sheets and statements of operations of Battle Creek, prior to intercompany eliminations, to illustrate the impact of including Battle Creek in our Consolidated Balance Sheets and Statements of Operations:

	December 31,
	2021		2020
Assets:
Cash and cash equivalents	$	4,398	$	6,055
Investments		10,610		5,543
Premiums and agents’ balances receivable		5,038		4,738
Deferred policy acquisition costs		499		479
Pooling receivable ⁽¹⁾		-		920
Reinsurance recoverables on losses ⁽²⁾		10,173		5,646
Accrued investment income		51		27
Deferred income taxes		142		101
Property and equipment		325		337
Other assets		52		49
Total assets	$	31,288	$	23,895

Liabilities:
Unpaid losses and LAE	$	2,937	$	2,445
Unearned premiums		2,544		2,381
Notes payable ⁽¹⁾		3,000		3,000
Pooling payable ⁽¹⁾		5,580		-
Reinsurance losses payable ⁽²⁾		12,754		11,221
Accrued expenses and other liabilities		264		303
Total liabilities		27,079		19,350

Equity:
Non-controlling interest		4,209		4,545
Total equity		4,209		4,545

Total liabilities and equity	$	31,288	$	23,895

⁽¹⁾	Amount fully eliminated in consolidation.
⁽²⁾	Amount partly eliminated in consolidation.

	Year Ended December 31,
	2021			2020			2019
Revenues:
Net premiums earned	$	5,992		$	5,673		$	-
Fee and other income		(11	)		(23	)		(9	)
Net investment income		49			(3	)		139
Net capital gain on investments		2			1			3
Total revenues		6,032			5,648			133

Expenses:
Losses and loss adjustment expenses		4,328			3,369			-
Amortization of deferred policy acquisition costs		1,291			1,029			-
Other underwriting and general expenses		470			77			-
Total expenses		6,089			4,475			-

Income (loss) before income taxes		(57	)		1,173			133
Income taxes		27			218			34
Net income (loss)	$	(84	)	$	955		$	99