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Investments (Tables)

3 Months Ended

Mar. 31, 2021

Investments

Schedule of Available for Sale Securities

		March 31, 2021
		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
Fixed-Maturity Securities:
U.S. Treasury securities and obligations of U.S. government
corporations and agencies		$	2,014,895			$	19,785			$	-			$	-			$	2,034,680			$	19,785
Political subdivisions of States, Territories and Possessions			8,606,088				173,655				(86,507	)			-				8,693,236				87,148
Corporate and other bonds Industrial and miscellaneous			104,774,373				7,791,664				(78,069	)			-				112,487,968				7,713,595
Residential mortgage and other asset backed securities (1)			23,904,337				566,540				(8,225	)			(92,731	)			24,369,921				465,584
Total		$	139,299,693			$	8,551,644			$	(172,801	)		$	(92,731	)		$	147,585,805			$	8,286,112

		December 31, 2020
		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
Fixed-Maturity Securities:
U.S. Treasury securities and obligations of U.S. government
corporations and agencies		$	3,020,710			$	29,190			$	-			$	-			$	3,049,900			$	29,190
Political subdivisions of States, Territories and Possessions			5,287,561				355,541				-				-				5,643,102				355,541
Corporate and other bonds Industrial and miscellaneous			108,573,422				11,634,123				(13,216	)			-				120,194,329				11,620,907
Residential mortgage and other asset backed securities (1)			28,163,891				617,368				(7,371	)			(111,947	)			28,661,941				498,050
Total		$	145,045,584			$	12,636,222			$	(20,587	)		$	(111,947	)		$	157,549,272			$	12,503,688

Schedule of available for sale fixed maturity securities contractual maturity

		March 31, 2021								December 31, 2020
		Amortized				Estimated				Amortized				Estimated
Remaining Time to Maturity		Cost				Fair Value				Cost				Fair Value
Less than one year		$	9,079,054			$	9,181,876			$	8,559,005			$	8,668,064
One to five years			43,059,233				46,164,289				44,137,567				47,745,430
Five to ten years			51,273,291				55,781,784				55,508,712				63,159,775
More than 10 years			11,983,778				12,087,935				8,676,409				9,314,062
Residential mortgage and other asset backed securities			23,904,337				24,369,921				28,163,891				28,661,941
Total		$	139,299,693			$	147,585,805			$	145,045,584			$	157,549,272

Schedule of equity securities

						March 31, 2021
						Gross				Gross				Estimated
Category		Cost				Gains				Losses				Fair Value
Equity Securities:
Preferred stocks		$	19,827,370			$	1,207,776			$	(221,142	)		$	20,814,004
Common stocks, mutual funds, and exchange traded funds			12,823,973				1,810,617				(17,791	)			14,616,799
Total		$	32,651,343			$	3,018,393			$	(238,933	)		$	35,430,803

		December 31, 2020
						Gross				Gross				Estimated
Category		Cost				Gains				Losses				Fair Value
Equity Securities:
Preferred stocks		$	18,097,942			$	853,277			$	(426,942	)		$	18,524,277
Common stocks, mutual funds, and exchange traded funds			14,473,224				1,820,512				(404,700	)			15,889,036
Total		$	32,571,166			$	2,673,789			$	(831,642	)		$	34,413,313

Schedule of Other Investments

		March 31, 2021												December 31, 2020
						Gross				Estimated								Gross				Estimated
Category		Cost				Gains				Fair Value				Cost				Gains				Fair Value
Other Investments:
Hedge fund		$	3,999,381			$	2,199,209			$	6,198,590			$	1,999,381			$	1,369,245			$	3,368,626
Real estate limited partnership			150,000				-				150,000				150,000				-				150,000
Total		$	4,149,381			$	2,199,209			$	6,348,590			$	2,149,381			$	1,369,245			$	3,518,626

Schedule of Held to Maturity Securities

		March 31, 2021
		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		$	729,606			$	210,129			$	-			$	-			$	939,735			$	210,129
Political subdivisions of States, Territories and Possessions			998,382				42,508				-				-				1,040,890				42,508
Exchange traded debt			1,812,762				28,106				(5,897	)			-				1,834,971				22,209
Corporate and other bonds Industrial and miscellaneous			5,640,036				242,695				(134,272	)			-				5,748,459				108,423
Total		$	9,180,786			$	523,438			$	(140,169	)		$	-			$	9,564,055			$	383,269

		December 31, 2020
		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		$	729,595			$	319,714			$	-			$	-			$	1,049,309			$	319,714
Political subdivisions of States, Territories and Possessions			998,428				50,917				-				-				1,049,345				50,917
Corporate and other bonds Industrial and miscellaneous			5,640,792				455,378				-				-				6,096,170				455,378
Total		$	7,368,815			$	826,009			$	-			$	-			$	8,194,824			$	826,009

Schedule of Held to Maturity Securities by contractual maturity

		March 31, 2021								December 31, 2020
		Amortized				Estimated				Amortized				Estimated
Remaining Time to Maturity		Cost				Fair Value				Cost				Fair Value
Less than one year		$	500,639			$	512,985			$	-			$	-
One to five years			2,098,011				2,244,083				2,598,193				2,777,936
Five to ten years			1,505,366				1,639,444				1,502,603				1,727,316
More than 10 years			5,076,770				5,167,543				3,268,019				3,689,572
Total		$	9,180,786			$	9,564,055			$	7,368,815			$	8,194,824

Schedule of Investment Income

		Three months ended
		March 31,
		2021				2020
Income:
Fixed-maturity securities		$	1,491,127			$	1,447,938
Equity securities			357,311				253,073
Cash and cash equivalents			924				44,223
Total			1,849,362				1,745,234
Expenses:
Investment expenses			66,166				79,390
Net investment income		$	1,783,196			$	1,665,844

Schedule of Securities with realized gains and losses on investments

		Three months ended
		March 31,
		2021				2020
Realized Gains (Losses)
Fixed-maturity securities:
Gross realized gains		$	410,311			$	204,225
Gross realized losses			(15,986	)			(32,342	)
			394,325				171,883
Equity securities:
Gross realized gains			933,122				316,513
Gross realized losses			(200,213	)			(213,815	)
			732,909				102,698
Net realized gains			1,127,234				274,581
Unrealized Gains (Losses)
Equity securities:
Gross gains			1,003,209				-
Gross losses			-				(6,121,608	)
			1,003,209				(6,121,608	)
Other investments:
Gross gains			829,964				-
Gross losses			-				(597,391	)
			829,964				(597,391	)
Net unrealized gains (losses)			1,833,173				(6,718,999	)
Net gains (losses) on investments		$	2,960,407			$	(6,444,418	)

Schedule of Securities with Unrealized Losses

		March 31, 2021
		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		$	-			$	-				-			$	-			$	-				-			$	-			$	-
Political subdivisions of States, Territories and
Possessions			4,236,366				(86,507	)			3				-				-				-				4,236,366				(86,507	)
Corporate and other bonds industrial and
miscellaneous			4,991,204				(78,069	)			3				-				-				-				4,991,204				(78,069	)
Residential mortgage and other
asset backed securities			3,512,982				(8,225	)			4				3,477,111				(92,731	)			10				6,990,093				(100,956	)
Total fixed-maturity
securities		$	12,740,552			$	(172,801	)			10			$	3,477,111			$	(92,731	)			10			$	16,217,663			$	(265,532	)

		December 31, 2020
		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		$	-			$	-				-			$	-			$	-				-			$	-			$	-
Political subdivisions of States, Territories and
Possessions			-				-				-				-				-				-				-				-
Corporate and other bonds industrial and
miscellaneous			1,006,901				(13,216	)			1				-				-				-				1,006,901				(13,216	)
Residential mortgage and other
asset backed securities			6,137,522				(7,371	)			5				3,735,732				(111,947	)			10				9,873,254				(119,318	)
Total fixed-maturity securities		$	7,144,423			$	(20,587	)			6			$	3,735,732			$	(111,947	)			10			$	10,880,155			$	(132,534	)

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