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5. Fair Value of Financial Instruments and Real Estate | 3 Months Ended
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Mar. 31, 2020
Fair Value Disclosures [Abstract] |
5. Fair Value of Financial Instruments and Real Estate | The estimated fair values of the Company’s financial instruments and real estate as of March 31, 2020 and December 31, 2019 are as follows:
| March 31, 2020 |  | December 31, 2019
| Carrying |  | Estimated |  | Carrying |  | Estimated
| Value |  | Fair Value |  | Value |  | Fair Value
Fixed-maturity securities-held-to maturity | $ 3,826,404 |  | $ 4,136,710 |  | $ 3,825,952 |  | $ 4,124,767
Cash and cash equivalents | $ 25,586,789 |  | $ 25,586,789 |  | $ 32,391,485 |  | $ 32,391,485
Premiums receivable, net | $ 11,913,123 |  | $ 11,913,123 |  | $ 12,706,411 |  | $ 12,706,411
Reinsurance receivables, net | $ 42,709,055 |  | $ 42,709,055 |  | $ 40,750,538 |  | $ 40,750,538
Real estate, net of accumulated depreciation | $ 2,275,307 |  | $ 2,705,000 |  | $ 2,292,743 |  | $ 2,705,000
Reinsurance balances payable | $ 5,337,287 |  | $ 5,337,287 |  | $ 11,714,724 |  | $ 11,714,724

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- Definition Disclosure of accounting policy for determining the fair value of financial instruments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 60 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7493716&loc=d3e21868-110260 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121572278&loc=d3e13279-108611 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=84158767&loc=d3e18780-107790 + Details
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