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v3.19.1

3. Investments (Tables) | 3 Months Ended
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Mar. 31, 2019
Investments [Abstract] |
Schedule of Available for Sale Securities |
|  | March 31, 2019 |
|  | Cost or |  |  | Gross |  |  | Gross Unrealized Losses |  |  | Estimated |  |  | Net |
|  | Amortized |  |  | Unrealized |  |  | Less than 12 |  |  | More than 12 |  |  | Fair |  |  | Unrealized |
Category |  | Cost |  |  | Gains |  |  | Months |  |  | Months |  |  | Value |  |  | Gains/(Losses) |
Fixed-Maturity Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of U.S. government corporations and agencies |  | $ | 8,229,100 |  |  | $ | 70,628 |  |  | $ | - |  |  | $ | (9,784 | ) |  | $ | 8,289,944 |  |  | $ | 60,844 |
Political subdivisions of States, |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Territories and Possessions |  |  | 5,688,302 |  |  |  | 117,032 |  |  |  | - |  |  |  | (6,230 | ) |  |  | 5,799,104 |  |  |  | 110,802 |
Corporate and other bonds |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Industrial and miscellaneous |  |  | 124,354,135 |  |  |  | 1,368,129 |  |  |  | (57,955 | ) |  |  | (710,936 | ) |  |  | 124,953,373 |  |  |  | 599,238 |
Residential mortgage and other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
asset backed securities (1) |  |  | 21,648,213 |  |  |  | 271,364 |  |  |  | (95,026 | ) |  |  | (389,820 | ) |  |  | 21,434,731 |  |  |  | (213,482 | )
Total |  | $ | 159,919,750 |  |  | $ | 1,827,153 |  |  | $ | (152,981 | ) |  | $ | (1,116,770 | ) |  | $ | 160,477,152 |  |  | $ | 557,402 |
|  | December 31, 2018 |
|  | Cost or |  |  | Gross |  |  | Gross Unrealized Losses |  |  | Estimated |  |  | Net |
|  | Amortized |  |  | Unrealized |  |  | Less than 12 |  |  | More than 12 |  |  | Fair |  |  | Unrealized |
Category |  | Cost |  |  | Gains |  |  | Months |  |  | Months |  |  | Value |  |  | Gains/(Losses) |
Fixed-Maturity Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of U.S. government corporations and agencies |  | $ | 8,222,050 |  |  | $ | 26,331 |  |  | $ | (28,000 | ) |  | $ | - |  |  | $ | 8,220,381 |  |  | $ | (1,669 | )
Political subdivisions of States, |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Territories and Possessions |  |  | 6,339,540 |  |  |  | 50,903 |  |  |  | (12,327 | ) |  |  | (36,508 | ) |  |  | 6,341,608 |  |  |  | 2,068 |
Corporate and other bonds |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Industrial and miscellaneous |  |  | 119,078,698 |  |  |  | 123,740 |  |  |  | (2,775,540 | ) |  |  | (676,605 | ) |  |  | 115,750,293 |  |  |  | (3,328,405 | )
Residential mortgage and other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
asset backed securities (1) |  |  | 21,790,973 |  |  |  | 236,502 |  |  |  | (231,229 | ) |  |  | (331,012 | ) |  |  | 21,465,234 |  |  |  | (325,739 | )
Total |  | $ | 155,431,261 |  |  | $ | 437,476 |  |  | $ | (3,047,096 | ) |  | $ | (1,044,125 | ) |  | $ | 151,777,516 |  |  | $ | (3,653,745 | )
Schedule of Available for Sale Securities by contractual maturity |
|  | March 31, 2019 |
|  |  |  |  | Gross |  |  | Gross |  |  | Estimated |
Category |  | Cost |  |  | Gains |  |  | Losses |  |  | Fair Value |
Equity Securities: |  |  |  |  |  |  |  |  |  |  |  |
Preferred stocks |  | $ | 7,882,618 |  |  | $ | 109,135 |  |  | $ | (101,961 | ) |  | $ | 7,889,792 |
Common stocks and exchange |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
traded mutual funds |  |  | 11,763,863 |  |  |  | 679,795 |  |  |  | (669,463 | ) |  |  | 11,774,195 |
Total |  | $ | 19,646,481 |  |  | $ | 788,930 |  |  | $ | (771,424 | ) |  | $ | 19,663,987 |
|  | December 31, 2018 |
|  |  |  |  | Gross |  |  | Gross |  |  | Estimated |
Category |  | Cost |  |  | Gains |  |  | Losses |  |  | Fair Value |
Equity Securities: |  |  |  |  |  |  |  |  |  |  |  |
Preferred stocks |  | $ | 6,694,754 |  |  | $ | - |  |  | $ | (541,798 | ) |  | $ | 6,152,956 |
Common stocks and exchange |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
traded mutual funds |  |  | 11,611,232 |  |  |  | 99,817 |  |  |  | (1,291,389 | ) |  |  | 10,419,660 |
Total |  | $ | 18,305,986 |  |  | $ | 99,817 |  |  | $ | (1,833,187 | ) |  | $ | 16,572,616 |
Schedule of Other Investments |
|  | March 31, 2019 |  | December 31, 2018 |
|  |  |  |  | Gross |  |  | Estimated |  |  |  |  |  | Gross |  |  | Estimated |
Category |  | Cost |  |  | Gains |  |  | Fair Value |  |  | Cost |  |  | Gains |  |  | Fair Value |
Other Investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedge fund |  | $ | 1,999,381 |  |  | $ | 148,564 |  |  | $ | 2,147,945 |  |  | $ | 1,999,381 |  |  | $ | (144,156 | ) |  | $ | 1,855,225 |
Total |  | $ | 1,999,381 |  |  | $ | 148,564 |  |  | $ | 2,147,945 |  |  | $ | 1,999,381 |  |  | $ | (144,156 | ) |  | $ | 1,855,225 |
Schedule of Held to Maturity Securities |
|  | March 31, 2019 |
|  | Cost or |  |  | Gross |  |  | Gross Unrealized Losses |  |  | Estimated |  |  | Net |
|  | Amortized |  |  | Unrealized |  |  | Less than 12 |  |  | More than 12 |  |  | Fair |  |  | Unrealized |
Category |  | Cost |  |  | Gains |  |  | Months |  |  | Months |  |  | Value |  |  | Gains |
Held-to-Maturity Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 729,517 |  |  | $ | 147,522 |  |  | $ | (1,177 | ) |  | $ | - |  |  | $ | 875,862 |  |  | $ | 146,345 |
Political subdivisions of States, |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Territories and Possessions |  |  | 998,759 |  |  |  | 45,676 |  |  |  | - |  |  |  | - |  |  |  | 1,044,435 |  |  |  | 45,676 |
Corporate and other bonds |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Industrial and miscellaneous |  |  | 2,096,344 |  |  |  | 65,540 |  |  |  | - |  |  |  | (5,570 | ) |  |  | 2,156,314 |  |  |  | 59,970 |
Total |  | $ | 3,824,620 |  |  | $ | 258,738 |  |  | $ | (1,177 | ) |  | $ | (5,570 | ) |  | $ | 4,076,611 |  |  | $ | 251,991 |
|  | December 31, 2018 |
|  | Cost or |  |  | Gross |  |  | Gross Unrealized Losses |  |  | Estimated |  |  | Net |
|  | Amortized |  |  | Unrealized |  |  | Less than 12 |  |  | More than 12 |  |  | Fair |  |  | Unrealized |
Category |  | Cost |  |  | Gains |  |  | Months |  |  | Months |  |  | Value |  |  | Gains |
Held-to-Maturity Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 729,507 |  |  | $ | 147,532 |  |  | $ | (3,964 | ) |  | $ | - |  |  | $ | 873,075 |  |  | $ | 143,568 |
Political subdivisions of States, |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Territories and Possessions |  |  | 998,803 |  |  |  | 33,862 |  |  |  | - |  |  |  | - |  |  |  | 1,032,665 |  |  |  | 33,862 |
Corporate and other bonds |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Industrial and miscellaneous |  |  | 2,494,545 |  |  |  | 38,461 |  |  |  | (1,425 | ) |  |  | (10,905 | ) |  |  | 2,520,676 |  |  |  | 26,131 |
Total |  | $ | 4,222,855 |  |  | $ | 219,855 |  |  | $ | (5,389 | ) |  | $ | (10,905 | ) |  | $ | 4,426,416 |  |  | $ | 203,561 |
Schedule of Held to Maturity Securities by contractual maturity |
|  | March 31, 2019 |  |  | December 31, 2018 |
|  | Amortized |  |  | Estimated |  |  | Amortized |  |  | Estimated |
Remaining Time to Maturity |  | Cost |  |  | Fair Value |  |  | Cost |  |  | Fair Value |
Less than one year |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
One to five years |  | $ | 2,598,323 |  |  | $ | 2,676,159 |  |  |  | 2,996,685 |  |  |  | 3,036,531 |
Five to ten years |  | $ | 619,780 |  |  | $ | 646,413 |  |  |  | 619,663 |  |  |  | 635,846 |
More than 10 years |  | $ | 606,517 |  |  | $ | 754,039 |  |  |  | 606,507 |  |  |  | 754,039 |
Total |  | $ | 3,824,620 |  |  | $ | 4,076,611 |  |  | $ | 4,222,855 |  |  | $ | 4,426,416 |
Schedule of Investment Income |
|  | Three months ended |
|  | March 31, |
|  | 2019 |  |  | 2018 |
Income: |  |  |  |  |  |
Fixed-maturity securities |  | $ | 1,526,870 |  |  | $ | 1,150,293 |
Equity securities |  |  | 207,144 |  |  |  | 200,497 |
Cash and cash equivalents |  |  | 40,401 |  |  |  | 73,259 |
Total |  |  | 1,774,415 |  |  |  | 1,424,049 |
Expenses: |  |  |  |  |  |  |  |
Investment expenses |  |  | 150,703 |  |  |  | 40,060 |
Net investment income |  | $ | 1,623,712 |  |  | $ | 1,383,989 |
Schedule of Securities with realized gains and losses on investments |
|  | Three months ended |
|  | March 31, |
|  | 2019 |  |  | 2018 |
Realized Losses |  |  |  |  |  |
Fixed-maturity securities: |  |  |  |  |  |
Gross realized gains |  | $ | 6,002 |  |  | $ | 117,469 |
Gross realized losses |  |  | (28,433 | ) |  |  | (334,969 | )
|  |  | (22,431 | ) |  |  | (217,500 | )
Equity securities: |  |  |  |  |  |  |  |
Gross realized gains |  |  | 3,200 |  |  |  | 210,558 |
Gross realized losses |  |  | (5,961 | ) |  |  | (236,831 | )
|  |  | (2,761 | ) |  |  | (26,273 | )
Net realized losses |  |  | (25,192 | ) |  |  | (243,773 | )
Unrealized Gains (Losses) |  |  |  |  |  |  |  |
Equity securities: |  |  |  |  |  |  |  |
Gross gains |  |  | 1,767,835 |  |  |  | - |
Gross losses |  |  | - |  |  |  | (307,214 | )
|  |  | 1,767,835 |  |  |  | (307,214 | )
Other investments: |  |  |  |  |  |  |  |
Gross gains |  |  | 292,720 |  |  |  | 27,860 |
Gross losses |  |  | - |  |  |  | - |
|  |  | 292,720 |  |  |  | 27,860 |
Net unrealized gains (losses) |  |  | 2,060,555 |  |  |  | (279,354 | )
Net gains (losses) on investments |  | $ | 2,035,363 |  |  | $ | (523,127 | )
Schedule of Securities with Unrealized Losses |
|  | March 31, 2019 |
|  | Less than 12 months |  |  | 12 months or more |  |  | Total |
|  | Estimated |  |  |  |  |  | No. of |  |  | Estimated |  |  |  |  |  | No. of |  |  | Estimated |  |  |  |
|  | Fair |  |  | Unrealized |  |  | Positions |  |  | Fair |  |  | Unrealized |  |  | Positions |  |  | Fair |  |  | Unrealized |
Category |  | Value |  |  | Losses |  |  | Held |  |  | Value |  |  | Losses |  |  | Held |  |  | Value |  |  | Losses |
Fixed-Maturity Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of U.S. government corporations and agencies |  | $ | - |  |  | $ | - |  |  |  | - |  |  | $ | 3,972,480 |  |  |  | (9,784 | ) |  |  | 2 |  |  | $ | 3,972,480 |  |  | $ | (9,784 | )
Political subdivisions of States, Territories and Possessions |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 825,878 |  |  |  | (6,230 | ) |  |  | 2 |  |  |  | 825,878 |  |  |  | (6,230 | )
Corporate and other bonds industrial and miscellaneous |  |  | 9,045,064 |  |  |  | (57,955 | ) |  |  | 11 |  |  |  | 40,520,044 |  |  |  | (710,936 | ) |  |  | 52 |  |  |  | 49,565,108 |  |  |  | (768,891 | )
Residential mortgage and other asset backed securities |  |  | 2,666,892 |  |  |  | (95,026 | ) |  |  | 4 |  |  |  | 15,432,106 |  |  |  | (389,820 | ) |  |  | 23 |  |  |  | 18,098,998 |  |  |  | (484,846 | )
Total fixed-maturity securities |  | $ | 11,711,956 |  |  | $ | (152,981 | ) |  |  | 15 |  |  | $ | 60,750,508 |  |  | $ | (1,116,770 | ) |  |  | 79 |  |  | $ | 72,462,464 |  |  | $ | (1,269,751 | )
|  | December 31, 2018 |
|  | Less than 12 months |  |  | 12 months or more |  |  | Total |
|  | Estimated |  |  |  |  |  | No. of |  |  | Estimated |  |  |  |  |  | No. of |  |  | Estimated |  |  |  |
|  | Fair |  |  | Unrealized |  |  | Positions |  |  | Fair |  |  | Unrealized |  |  | Positions |  |  | Fair |  |  | Unrealized |
Category |  | Value |  |  | Losses |  |  | Held |  |  | Value |  |  | Losses |  |  | Held |  |  | Value |  |  | Losses |
Fixed-Maturity Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of U.S. government corporations and agencies |  | $ | 4,948,530 |  |  | $ | (28,000 | ) |  |  | 3 |  |  | $ | - |  |  | $ | - |  |  |  | - |  |  | $ | 4,948,530 |  |  | $ | (28,000 | )
Political subdivisions of States, Territories and Possessions |  |  | 555,375 |  |  |  | (12,327 | ) |  |  | 1 |  |  |  | 1,436,242 |  |  |  | (36,508 | ) |  |  | 3 |  |  |  | 1,991,617 |  |  |  | (48,835 | )
Corporate and other bonds industrial and miscellaneous |  |  | 81,004,459 |  |  |  | (2,775,540 | ) |  |  | 97 |  |  |  | 13,424,888 |  |  |  | (676,605 | ) |  |  | 24 |  |  |  | 94,429,347 |  |  |  | (3,452,145 | )
Residential mortgage and other asset backed securities |  |  | 7,002,713 |  |  |  | (231,229 | ) |  |  | 9 |  |  |  | 11,928,425 |  |  |  | (331,012 | ) |  |  | 19 |  |  |  | 18,931,138 |  |  |  | (562,241 | )
Total fixed-maturity securities |  | $ | 93,511,077 |  |  | $ | (3,047,096 | ) |  |  | 110 |  |  | $ | 26,789,555 |  |  | $ | (1,044,125 | ) |  |  | 46 |  |  | $ | 120,300,632 |  |  | $ | (4,091,221 | )

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