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3. Investments (Details 5) - USD ($) | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018
Income: |  |  |  |
Fixed-maturity securities | $ 1,474,341 | $ 1,361,506 | $ 3,001,211 | $ 2,511,799
Equity securities | 205,509 | 194,091 | 412,653 | 394,588
Cash and cash equivalents | 172,680 | 42,582 | 213,081 | 115,841
Total | 1,852,530 | 1,598,179 | 3,626,945 | 3,022,228
Expenses: |  |  |  |
Investment expenses | 132,761 | 41,313 | 283,464 | 81,373
Net investment income | $ 1,719,769 | $ 1,556,866 | $ 3,343,481 | $ 2,940,855

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