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Investments (Tables)

6 Months Ended

Jun. 30, 2022

Investments

Schedule Of Available For Sale Fixed Maturity Securities

		June 30, 2022
		Cost or				Gross				Gross Unrealized Losses								Estimated				Net
		Amortized				Unrealized				Less than 12				More than 12				Fair				Unrealized
Category		Cost				Gains				Months				Months				Value				Losses
Fixed-Maturity Securities:
Political subdivisions of States,
Territories and Possessions		$	17,218,274			$	-			$	(3,020,486	)		$	-			$	14,197,788			$	(3,020,486	)
Corporate and other bonds
Industrial and miscellaneous			84,235,861				9,782				(6,562,506	)			-				77,683,137				(6,552,724	)
Residential mortgage and other asset
backed securities			55,228,980				114,844				(5,387,294	)			(339,668	)			49,616,862				(5,612,118	)
Total fixed-maturity securities		$	156,683,115			$	124,626			$	(14,970,286	)		$	(339,668	)		$	141,497,787			$	(15,185,328	)

		December 31, 2021
																						Net
		Cost or				Gross				Gross Unrealized Losses								Estimated				Unrealized
		Amortized				Unrealized				Less than 12				More than 12				Fair				Gains/
Category		Cost				Gains				Months				Months				Value				(Losses)
Fixed-Maturity Securities:
Political subdivisions of States,
Territories and Possessions		$	17,236,750			$	246,748			$	(197,984	)		$	-			$	17,285,514			$	48,764
Corporate and other bonds
Industrial and miscellaneous			80,534,769				2,603,411				(126,926	)			-				83,011,254				2,476,485
Residential mortgage and other asset
backed securities			58,036,959				355,985				(489,258	)			(120,344	)			57,783,342				(253,617	)
Total fixed-maturity securities		$	155,808,478			$	3,206,144			$	(814,168	)		$	(120,344	)		$	158,080,110			$	2,271,632

Schedule Of Available For Sale Securities

		June 30, 2022								December 31, 2021
		Amortized				Estimated				Amortized				Estimated
Remaining Time to Maturity		Cost				Fair Value				Cost				Fair Value
Less than one year		$	1,500,986			$	1,500,790			$	1,153,099			$	1,156,636
One to five years			46,709,763				45,176,361				43,007,110				44,914,759
Five to ten years			32,088,366				27,928,816				26,808,853				27,332,581
More than 10 years			21,155,020				17,274,958				26,802,457				26,892,792
Residential mortgage and other asset backed securities			55,228,980				49,616,862				58,036,959				57,783,342
Total		$	156,683,115			$	141,497,787			$	155,808,478			$	158,080,110

Schedule Of Equity Securities

		June 30, 2022
						Gross				Gross				Estimated
Category		Cost				Gains				Losses				Fair Value
Equity Securities:
Preferred stocks		$	18,430,554			$	175,745			$	(3,347,910	)		$	15,258,389
Common stocks, mutual funds, and exchange traded funds			11,808,966				392,745				(1,395,555	)			10,806,156
Total		$	30,239,520			$	568,490			$	(4,743,465	)		$	26,064,545

		December 31, 2021
						Gross				Gross				Estimated
Category		Cost				Gains				Losses				Fair Value
Equity Securities:
Preferred stocks		$	22,019,509			$	1,007,009			$	(184,617	)		$	22,841,901
Common stocks, mutual funds, and exchange traded funds			15,451,160				1,573,653				(179,712	)			16,845,101
Total		$	37,470,669			$	2,580,662			$	(364,329	)		$	39,687,002

Schedule Of Other Investments

		June 30, 2022												December 31, 2021
						Gross				Estimated								Gross				Estimated
Category		Cost				Gains				Fair Value				Cost				Gains				Fair Value
Other Investments:
Hedge fund		$	3,999,381			$	1,254,201			$	5,253,582			$	3,999,381			$	3,562,034			$	7,561,415

Schedule Of Held To Maturity Securities

		June 30, 2022
																						Net
		Cost or				Gross				Gross Unrealized Losses								Estimated				Unrealized
		Amortized				Unrealized				Less than 12				More than 12				Fair				Gains/
Category		Cost				Gains				Months				Months				Value				(Losses)
Held-to-Maturity Securities:
U.S. Treasury securities		$	1,228,410			$	86,141			$	(10,175	)		$	-			$	1,304,376			$	75,966
Political subdivisions of States,
Territories and Possessions			498,378				4,637				-				-				503,015				4,637
Exchange traded debt			304,111				-				(29,111	)			-				275,000				(29,111	)
Corporate and other bonds
Industrial and miscellaneous			5,737,319				39,429				(945,603	)			-				4,831,145				(906,174	)
Total		$	7,768,218			$	130,207			$	(984,889	)		$	-			$	6,913,536			$	(854,682	)

		December 31, 2021
																						Net
		Cost or				Gross				Gross Unrealized Losses								Estimated				Unrealized
		Amortized				Unrealized				Less than 12				More than 12				Fair				Gains/
Category		Cost				Gains				Months				Months				Value				(Losses)
Held-to-Maturity Securities:
U.S. Treasury securities		$	729,642			$	209,633			$	-			$	-			$	939,275			$	209,633
Political subdivisions of States,
Territories and Possessions			998,239				22,856				-				-				1,021,095				22,856
Exchange traded debt			304,111				85				(13,921	)							290,275				(13,836	)
Corporate and other bonds
Industrial and miscellaneous			6,234,342				280,951				(12,779	)			-				6,502,514				268,172
Total		$	8,266,334			$	513,525			$	(26,700	)		$	-			$	8,753,159			$	486,825

Schedule Of Held To Maturity Securities By Contractual Maturity

		June 30, 2022								December 31, 2021
		Amortized				Estimated				Amortized				Estimated
Remaining Time to Maturity		Cost				Fair Value				Cost				Fair Value
Less than one year		$	459,032			$	497,110			$	994,712			$	1,008,180
One to five years			1,246,206				1,246,690				1,205,829				1,290,465
Five to ten years			1,519,749				1,370,950				1,513,942				1,648,808
More than 10 years			4,543,231				3,798,786				4,551,851				4,805,706
Total		$	7,768,218			$	6,913,536			$	8,266,334			$	8,753,159

Schedule Of Investment Income

		Three months ended								Six months ended
		June 30,								June 30,
		2022				2021				2022				2021
Income:
Fixed-maturity securities		$	457,941			$	1,459,342			$	1,598,130			$	2,950,469
Equity securities			279,562				351,100				624,730				708,411
Cash and cash equivalents			2,983				634				3,166				1,558
Other investments			-				(42,908	)			-				(42,908	)
Total			740,486				1,768,168				2,226,026				3,617,530
Expenses:
Investment expenses			106,161				90,093				232,601				156,259
Net investment income		$	634,325			$	1,678,075			$	1,993,425			$	3,461,271

Schedule Of Securities With Realized Gains And Losses On Investments

		Three months ended								Six months ended
		June 30,								June 30,
		2022				2021				2022				2021
Realized Gains (Losses)
Fixed-maturity securities:
Gross realized gains		$	17,311			$	367,756			$	102,411			$	777,296
Gross realized losses			(27,666	)			(26,255	)			(154,091	)			(41,499	)
			(10,355	)			341,501				(51,680	)			735,797
Equity securities:
Gross realized gains			29,047				442,798				477,353				1,375,948
Gross realized losses			(307,352	)			(67,276	)			(636,573	)			(267,488	)
			(278,305	)			375,522				(159,220	)			1,108,460
Net realized (losses) gains			(288,660	)			717,023				(210,900	)			1,844,257
Unrealized (Losses) Gains
Equity Securities:
Gross gains			-				920,863				-				1,924,072
Gross losses			(2,856,412	)			-				(6,417,045	)			-
			(2,856,412	)			920,863				(6,417,045	)			1,924,072
Other Investments:
Gross gains			-				677,375				-				1,507,339
Gross losses			(1,372,301	)			-				(2,287,833	)			-
			(1,372,301	)			677,375				(2,287,833	)			1,507,339
Net unrealized (losses) gains			(4,228,713	)			1,598,238				(8,704,878	)			3,431,411
Net (losses) gains on investments		$	(4,517,373	)		$	2,315,261			$	(8,915,778	)		$	5,275,668

Schedule Of Securities With Unrealized Losses

		June 30, 2022
		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			14,197,788				(3,020,486	)			14				-				-				-				14,197,788				(3,020,486	)
Corporate and other bonds industrial and miscellaneous			76,672,772				(6,562,506	)			92				-				-				-				76,672,772				(6,562,506	)
Residential mortgage and other asset backed securities			45,843,567				(5,387,294	)			37				2,724,188				(339,668	)			3				48,567,755				(5,726,962	)
Total fixed-maturity securities		$	136,714,127			$	(14,970,286	)			143			$	2,724,188			$	(339,668	)			3			$	139,438,315			$	(15,309,954	)

		December 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			6,768,123				(197,984	)			5				-				-				-				6,768,123				(197,984	)
Corporate and other bonds industrial and miscellaneous			17,593,707				(126,926	)			15				-				-				-				17,593,707				(126,926	)
Residential mortgage and other asset backed securities			45,399,451				(489,258	)			26				2,923,182				(120,344	)			2				48,322,633				(609,602	)
Total fixed-maturity securities		$	69,761,281			$	(814,168	)			46			$	2,923,182			$	(120,344	)			2			$	72,684,463			$	(934,512	)

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
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