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Fair Value of Financial Instruments and Real Estate

3 Months Ended

Mar. 31, 2022

Fair Value of Financial Instruments and Real Estate

Fair Value Of Financial Instruments And Real Estate

Note 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, 2022 and December 31, 2021 are as follows:

		March 31, 2022								December 31, 2021
		Carrying Value				Fair Value				Carrying Value				Fair Value
Fixed-maturity securities-held-to maturity		$	7,765,138			$	7,629,300			$	8,266,334			$	8,753,159
Cash and cash equivalents		$	5,833,886			$	5,833,886			$	24,290,598			$	24,290,598
Premiums receivable, net		$	11,029,208			$	11,029,208			$	12,318,336			$	12,318,336
Reinsurance receivables, net		$	49,341,690			$	49,341,690			$	40,292,438			$	40,292,438
Real estate, net of accumulated depreciation		$	2,126,029			$	3,025,000			$	2,144,464			$	3,025,000
Reinsurance balances payable		$	5,091,070			$	5,091,070			$	12,961,568			$	12,961,568

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- References

No definition available.

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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=123594938&loc=d3e13279-108611

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