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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2021
Fair Value Measurements  
Schedule of Fair Value Measurements

 

 

March 31, 2021

 

 

 

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

 

$2,034,680

 

 

$-

 

 

$-

 

 

$2,034,680

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Political subdivisions of States, Territories and Possessions

 

 

-

 

 

 

8,693,236

 

 

 

-

 

 

 

8,693,236

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate and other bonds industrial and miscellaneous

 

 

110,434,895

 

 

 

2,053,073

 

 

 

-

 

 

 

112,487,968

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage backed securities

 

 

-

 

 

 

24,369,921

 

 

 

-

 

 

 

24,369,921

 

Total fixed maturities

 

 

112,469,575

 

 

 

35,116,230

 

 

 

-

 

 

 

147,585,805

 

Equity securities

 

 

35,430,803

 

 

 

-

 

 

 

-

 

 

 

35,430,803

 

Total investments

 

$147,900,378

 

 

$35,116,230

 

 

$-

 

 

$183,016,608

 

 

 

December 31, 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

 

$3,049,900

 

 

$-

 

 

$-

 

 

$3,049,900

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Political subdivisions of States, Territories and Possessions

 

 

-

 

 

 

5,643,102

 

 

 

-

 

 

 

5,643,102

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate and other bonds industrial and miscellaneous

 

 

118,123,890

 

 

 

2,070,439

 

 

 

-

 

 

 

120,194,329

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage and other asset backed securities

 

 

-

 

 

 

28,661,941

 

 

 

-

 

 

 

28,661,941

 

Total fixed maturities

 

 

121,173,790

 

 

 

36,375,482

 

 

 

-

 

 

 

157,549,272

 

Equity securities

 

 

34,413,313

 

 

 

-

 

 

 

-

 

 

 

34,413,313

 

Total investments

 

$155,587,103

 

 

$36,375,482

 

 

$-

 

 

$191,962,585

 

Schedule of Hedge Fund Investments

Category

 

March 31,

2021

 

 

December 31, 2020

 

 

 

 

 

 

 

 

Other Investments:

 

 

 

 

 

 

Hedge fund

 

$6,198,590

 

 

$3,368,626

 

 

 

 

 

 

 

 

 

 

Real estate limited partnership

 

 

150,000

 

 

 

150,000

 

Total

 

$6,348,590

 

 

$3,518,626

 

Fair value hierarchy of long-term debt

 

 

March 31, 2021

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Long-term debt

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Senior Notes due 2022

 

$-

 

 

$27,295,348

 

 

$-

 

 

$27,295,348

 

 

 

December 31, 2020

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Long-term debt

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Senior Notes due 2022

 

$-

 

 

$27,272,727

 

 

$-

 

 

$27,272,727