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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2021
Fair Value Measurements  
Schedule of Fair Value Measurements

 

 

December 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

 

$-

 

 

$-

 

 

$-

 

 

$-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Political subdivisions of States, Territories and Possessions

 

 

-

 

 

 

17,285,514

 

 

 

-

 

 

 

17,285,514

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate and other bonds industrial and miscellaneous

 

 

82,500,779

 

 

 

510,475

 

 

 

-

 

 

 

83,011,254

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage and other asset backed securities

 

 

-

 

 

 

57,783,342

 

 

 

-

 

 

 

57,783,342

 

Total fixed maturities 

 

 

82,500,779

 

 

 

75,579,331

 

 

 

-

 

 

 

158,080,110

 

Equity securities

 

 

39,687,002

 

 

 

-

 

 

 

-

 

 

 

39,687,002

 

Total investments

 

$122,187,781

 

 

$75,579,331

 

 

$-

 

 

$197,767,112

 

 

 

 

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 

 

December 31, 2021

 

 

December 31, 2020

 

 

 

 

 

 

 

 

Other Investments:

 

 

 

 

 

 

Hedge fund

 

$7,561,415

 

 

$3,368,626

 

 

 

 

 

 

 

 

 

 

Real estate limited partnership

 

 

-

 

 

 

150,000

 

Total 

 

$7,561,415

 

 

$3,518,626

 

Fair value hierarchy of long-term debt

 

 

December 31, 2021

 

 

 

 Level 1 

 

 

 Level 2 

 

 

 Level 3 

 

 

 Total 

 

Debt

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Senior Notes due 2022

 

$-

 

 

$28,436,019

 

 

$-

 

 

$28,436,019

 

 

 

 

December 31, 2020

 

 

 

 Level 1 

 

 

 Level 2 

 

 

 Level 3 

 

 

 Total 

 

Debt

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Senior Notes due 2022

 

$-

 

 

$27,272,727

 

 

$-

 

 

$27,272,727