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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2022
Fair Value Measurements  
Schedule of Fair Value Measurements

 

 

December 31, 2022

 

 

 

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

 

$23,869,096

 

 

$-

 

 

$-

 

 

$23,869,096

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Political subdivisions of States, Territories and Possessions

 

 

-

 

 

 

13,141,387

 

 

 

-

 

 

 

13,141,387

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate and other bonds industrial and miscellaneous

 

 

71,585,115

 

 

 

497,370

 

 

 

-

 

 

 

72,082,485

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage and other asset backed securities

 

 

-

 

 

 

45,622,195

 

 

 

-

 

 

 

45,622,195

 

Total fixed maturities

 

 

95,454,211

 

 

 

59,260,952

 

 

 

-

 

 

 

154,715,163

 

Equity securities

 

 

13,834,390

 

 

 

-

 

 

 

-

 

 

 

13,834,390

 

Total investments

 

$109,288,601

 

 

$59,260,952

 

 

$-

 

 

$168,549,553

 

 

 

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

 

Schedule of Hedge Fund Investments

Category

 

December 31, 2022

 

 

December 31, 2021

 

 

 

 

 

 

Other Investments

 

 

 

 

 

 

Hedge fund

 

$2,771,652

 

 

$7,561,415

 

Fair value hierarchy of long-term debt

 

 

December 31, 2022

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Debt

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Senior Notes due 2024

 

$-

 

 

$15,829,096

 

 

$-

 

 

$15,829,096

 

 

 

December 31, 2021

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Debt

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Senior Notes due 2022

 

$-

 

 

$28,436,019

 

 

$-

 

 

$28,436,019