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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2020
Fair Value Measurements  
Schedule of fair value measurements

 

 

September 30, 2020

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed-maturity securities available-for-sale

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

 

 

 

 

 

 

 

 

 

 

 

and obligations of U.S.

 

 

 

 

 

 

 

 

 

 

 

 

government corporations

 

 

 

 

 

 

 

 

 

 

 

 

and agencies

 

$3,069,330

 

 

$-

 

 

$-

 

 

$3,069,330

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Political subdivisions of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

States, Territories and

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Possessions

 

 

-

 

 

 

5,916,075

 

 

 

-

 

 

 

5,916,075

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate and other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

bonds industrial and

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

miscellaneous

 

 

121,119,461

 

 

 

2,081,297

 

 

 

-

 

 

 

123,200,758

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage backed securities

 

 

-

 

 

 

24,352,426

 

 

 

-

 

 

 

24,352,426

 

Total fixed maturities

 

 

124,188,791

 

 

 

32,349,798

 

 

 

-

 

 

 

156,538,589

 

Equity securities

 

 

29,623,267

 

 

 

-

 

 

 

-

 

 

 

29,623,267

 

Total investments

 

$153,812,058

 

 

$32,349,798

 

 

$-

 

 

$186,161,856

 

 

 

 

December 31, 2019

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed-maturity securities available-for-sale

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

 

 

 

 

 

 

 

 

 

 

 

and obligations of U.S.

 

 

 

 

 

 

 

 

 

 

 

 

government corporations

 

 

 

 

 

 

 

 

 

 

 

 

and agencies

 

$7,061,100

 

 

$-

 

 

$-

 

 

$7,061,100

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Political subdivisions of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

States, Territories and

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Possessions

 

 

-

 

 

 

9,321,812

 

 

 

-

 

 

 

9,321,812

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate and other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

bonds industrial and

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

miscellaneous

 

 

123,010,772

 

 

 

2,611,267

 

 

 

-

 

 

 

125,622,039

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage backed securities

 

 

-

 

 

 

26,231,230

 

 

 

-

 

 

 

26,231,230

 

Total fixed maturities

 

 

130,071,872

 

 

 

38,164,309

 

 

 

-

 

 

 

168,236,181

 

Equity securities

 

 

24,661,382

 

 

 

-

 

 

 

-

 

 

 

24,661,382

 

Total investments

 

$154,733,254

 

 

$38,164,309

 

 

$-

 

 

$192,897,563

 

Schedule of hedge fund investments

Category

 

September 30,

2020

 

 

December 31,

2019

 

 

 

 

 

 

 

 

Other Investments:

 

 

 

 

 

 

Hedge fund

 

$2,829,078

 

 

$2,584,913

 

Total

 

$2,829,078

 

 

$2,584,913

 

Schedule of Fair value hierarchy of long-term debt

 

 

September 30, 2020

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Long-term debt

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Senior Notes due 2022

 

$-

 

 

$27,279,652

 

 

$-

 

 

$27,279,652

 

 

 

 

December 31, 2019

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Long-term debt

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Senior Notes due 2022

 

$-

 

 

$27,313,994

 

 

$-

 

 

$27,313,994