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Fair Value of Financial Instruments and Real Estate
 3 Months Ended
Mar. 31, 2023
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, including their fair value level as of March 31, 2023 and December 31, 2022 are as follows:

 

 

 

March 31, 2023

 

 

December 31, 2022

 

 

 

Carrying Value

 

 

Fair Value

 

 

Carrying Value

 

 

Fair Value

 

 

 

 

 

 

 

 

 

 

Fixed-maturity securities-held-to maturity, Level 1

 

$7,765,096

 

 

$6,825,609

 

 

$7,766,140

 

 

$6,600,388

 

Cash and cash equivalents, Level 1

 

$10,500,753

 

 

$10,500,753

 

 

$11,958,228

 

 

$11,958,228

 

Premiums receivable, net, Level 1

 

$13,339,037

 

 

$13,339,037

 

 

$13,880,504

 

 

$13,880,504

 

Reinsurance receivables, net, Level 3

 

$78,018,606

 

 

$78,018,606

 

 

$66,465,061

 

 

$66,465,061

 

Real estate, net of accumulated depreciation, Level 3

 

$2,052,283

 

 

$2,800,000

 

 

$2,050,644

 

 

$2,800,000

 

Reinsurance balances payable, Level 3

 

$20,110,212

 

 

$20,110,212

 

 

$13,061,966

 

 

$13,061,966