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Quarterly Financial Data (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2022
Quarterly Financial Data (Unaudited)  
Schedule of Quarterly Financial Data

 

 

2022

 

 

 

March 31,

 

 

June 30,

 

 

September 30,

 

 

December 31,

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net premiums earned

 

$26,673,380

 

 

$27,902,068

 

 

$29,360,976

 

 

$30,448,107

 

 

$114,384,531

 

Ceding commission revenue

 

 

4,681,396

 

 

 

4,715,587

 

 

 

4,886,094

 

 

 

5,036,314

 

 

 

19,319,391

 

Net investment income

 

 

1,359,100

 

 

 

634,325

 

 

 

1,418,521

 

 

 

1,524,832

 

 

 

4,936,778

 

Net losses on investments

 

 

(4,398,405)

 

 

(4,517,373)

 

 

(397,658)

 

 

(78,429)

 

 

(9,391,865)

Total revenues

 

 

28,551,295

 

 

 

28,979,250

 

 

 

35,537,635

 

 

 

37,091,110

 

 

 

130,159,290

 

Loss and loss adjustment expenses

 

 

22,941,198

 

 

 

18,656,041

 

 

 

22,027,516

 

 

 

24,765,287

 

 

 

88,390,042

 

Commission expense and other underwriting expenses

 

 

15,167,035

 

 

 

15,106,028

 

 

 

15,978,291

 

 

 

15,027,269

 

 

 

61,278,623

 

Net loss

 

 

(9,197,532)

 

 

(5,379,619)

 

 

(3,997,621)

 

 

(3,950,022)

 

 

(22,524,794)

Basic loss per share

 

$(0.87)

 

$(0.51)

 

$(0.38)

 

$(0.37)

 

$(2.12)

Diluted loss per share

 

$(0.87)

 

$(0.51)

 

$(0.38)

 

$(0.37)

 

$(2.12)

 

 

2021

 

 

 

March 31,

 

 

June 30,

 

 

September 30,

 

 

December 31,

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net premiums earned

 

$34,589,218

 

 

$35,436,426

 

 

$36,803,251

 

 

$37,052,824

 

 

$143,881,719

 

Ceding commission revenue

 

 

(1,065)

 

 

45,741

 

 

 

(7,276)

 

 

52,281

 

 

 

89,681

 

Net investment income

 

 

1,783,196

 

 

 

1,678,075

 

 

 

1,676,596

 

 

 

1,483,525

 

 

 

6,621,392

 

Net gains on investments

 

 

2,960,407

 

 

 

2,315,261

 

 

 

204,534

 

 

 

4,306,753

 

 

 

9,786,955

 

Total revenues

 

 

39,503,202

 

 

 

39,600,449

 

 

 

38,957,974

 

 

 

43,169,616

 

 

 

161,231,241

 

Loss and loss adjustment expenses

 

 

22,560,672

 

 

 

20,759,210

 

 

 

35,740,235

 

 

 

22,912,479

 

 

 

101,972,596

 

Commission expense and other underwriting expenses

 

 

14,690,881

 

 

 

14,978,261

 

 

 

14,764,678

 

 

 

14,934,426

 

 

 

59,368,246

 

Net income (loss)

 

 

(311,097)

 

 

1,323,361

 

 

 

(10,618,265)

 

 

2,227,700

 

 

 

(7,378,301)

Basic earnings (loss) per share

 

$(0.03)

 

$0.12

 

 

$(1.01)

 

$0.21

 

 

$(0.70)

Diluted earnings (loss) per share

 

$(0.03)

 

$0.12

 

 

$(1.01)

 

$0.21

 

 

$(0.70)