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Investments (Tables)

3 Months Ended

Mar. 31, 2023

Investments

Schedule of Available for Sale Securities

		March 31, 2023
																						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:
U.S. Treasury securities and obligations of U.S. government corporations and agencies (1)		$	21,988,099			$	36,038			$	(674	)		$	-			$	22,023,463			$	35,364
Political subdivisions of States, Territories and Possessions			17,098,969				-				(5,153	)			(3,338,913	)			13,754,903				(3,344,066	)
Corporate and other bonds Industrial and miscellaneous			80,264,856				-				(777,717	)			(6,479,111	)			73,008,028				(7,256,828	)
Residential mortgage and other asset backed securities (2)			53,022,594				67,556				(496,219	)			(6,739,006	)			45,854,925				(7,167,669	)
Total fixed-maturity securities		$	172,374,518			$	103,594			$	(1,279,763	)		$	(16,557,030	)		$	154,641,319			$	(17,733,199	)

		December 31, 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:
U.S. Treasury securities and obligations of U.S. government corporations and agencies (1)		$	23,874,545			$	1,479			$	(6,928	)		$	-			$	23,869,096			$	(5,449	)
Political subdivisions of States, Territories and Possessions			17,108,154				-				(2,195,273	)			(1,771,494	)			13,141,387				(3,966,767	)
Corporate and other bonds Industrial and miscellaneous			80,338,464				-				(5,796,994	)			(2,458,985	)			72,082,485				(8,255,979	)
Residential mortgage and other asset backed securities (2)			53,597,264				58,398				(882,664	)			(7,150,803	)			45,622,195				(7,975,069	)
Total fixed-maturity securities		$	174,918,427			$	59,877			$	(8,881,859	)		$	(11,381,282	)		$	154,715,163			$	(20,203,264	)

Schedule of available for sale fixed maturity securities contractual maturity

		March 31, 2023								December 31, 2022
		Amortized				Estimated				Amortized				Estimated
Remaining Time to Maturity		Cost				Fair Value				Cost				Fair Value
Less than one year		$	15,731,448			$	15,650,264			$	16,359,100			$	16,307,991
One to five years			55,396,930				53,174,343				18,605,987				14,085,113
Five to ten years			30,202,432				25,759,376				54,559,158				52,230,283
More than 10 years			18,021,114				14,202,411				31,796,918				26,469,581
Residential mortgage and other asset backed securities			53,022,594				45,854,925				53,597,264				45,622,195
Total		$	172,374,518			$	154,641,319			$	174,918,427			$	154,715,163

Schedule of equity securities

		March 31, 2023
						Gross				Gross				Estimated
Category		Cost				Gains				Losses				Fair Value
Equity Securities:
Preferred stocks		$	13,583,942			$	-			$	(2,906,623	)		$	10,677,319
Common stocks, mutual funds, and exchange traded funds			4,427,204				199,258				(681,232	)			3,945,230
Total		$	18,011,146			$	199,258			$	(3,587,855	)		$	14,622,549

		December 31, 2022
						Gross				Gross				Estimated
Category		Cost				Gains				Losses				Fair Value
Equity Securities:
Preferred stocks		$	13,583,942			$	-			$	(3,589,313	)		$	9,994,629
Common stocks, mutual funds, and exchange traded funds			4,502,758				158,635				(821,632	)			3,839,761
Total		$	18,086,700			$	158,635			$	(4,410,945	)		$	13,834,390

		March 31, 2023												December 31, 2022
						Gross				Estimated								Gross				Estimated
Category		Cost				Gains				Fair Value				Cost				Gains				Fair Value
Other Investments:
Hedge fund		$	1,987,040			$	1,148,409			$	3,135,449			$	1,987,040			$	784,612			$	2,771,652

Schedule of Held to Maturity Securities

		March 31, 2023
																						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		$	1,228,634			$	47,886			$	(24,108	)		$	-			$	1,252,412			$	23,778
Political subdivisions of States, Territories and Possessions			498,769				1,661				-				-				500,430				1,661
Exchange traded debt			304,111				-				(56,461	)			-				247,650				(56,461	)
Corporate and other bonds Industrial and miscellaneous			5,733,582				40,048				(57,910	)			(890,603	)			4,825,117				(908,465	)
Total		$	7,765,096			$	89,595			$	(138,479	)		$	(890,603	)		$	6,825,609			$	(939,487	)

		December 31, 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		$	1,228,560			$	28,400			$	(34,077	)		$	-			$	1,222,883			$	(5,677	)
Political subdivisions of States, Territories and Possessions			498,638				2,092				-				-				500,730				2,092
Exchange traded debt			304,111				-				(29,111	)			-				275,000				(29,111	)
Corporate and other bonds Industrial and miscellaneous			5,734,831				36,968				(809,746	)			(360,278	)			4,601,775				(1,133,056	)
Total		$	7,766,140			$	67,460			$	(872,934	)		$	(360,278	)		$	6,600,388			$	(1,165,752	)

Schedule of Held to Maturity Securities by contractual maturity

		March 31, 2023								December 31, 2022
		Amortized				Estimated				Amortized				Estimated
Remaining Time to Maturity		Cost				Fair Value				Cost				Fair Value
Less than one year		$	708,744			$	747,483			$	708,535			$	743,575
One to five years			1,120,700				1,098,253				1,120,507				1,088,522
Five to ten years			1,405,680				1,215,945				1,402,704				1,200,720
More than 10 years			4,529,972				3,763,928				4,534,394				3,567,571
Total		$	7,765,096			$	6,825,609			$	7,766,140			$	6,600,388

Schedule of Investment Income

		Three months ended
		March 31,
		2023				2022
Income:
Fixed-maturity securities		$	1,417,709			$	1,140,189
Equity securities			176,877				345,168
Cash and cash equivalents			32,858				183
Total			1,627,444				1,485,540
Expenses:
Investment expenses			85,952				126,440
Net investment income		$	1,541,492			$	1,359,100

Schedule of Securities with realized gains and losses on investments

		Three months ended
		March 31,
		2023				2022
Realized Gains (Losses)
Fixed-maturity securities:
Gross realized gains		$	418			$	85,100
Gross realized losses			(3,057	)			(126,424	)
			(2,639	)			(41,324	)
Equity securities:
Gross realized gains			-				448,306
Gross realized losses			-				(329,221	)
			-				119,085
Other Investments:
Gross realized gains			-				-
Gross realized losses			-				-
			-				-
Net realized (losses) gains			(2,639	)			77,761
Unrealized Gains (Losses)
Equity Securities:
Gross gains			863,713				-
Gross losses			-				(3,560,634	)
			863,713				(3,560,634	)
Other Investments:
Gross gains			363,797				-
Gross losses			-				(915,532	)
			363,797				(915,532	)
Net unrealized gains (losses)			1,227,510				(4,476,166	)
Net gains (losses) on investments		$	1,224,871			$	(4,398,405	)

Schedule of Securities with Unrealized Losses

		March 31, 2023
		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		$	5,542,768			$	(674	)			1			$	-				-				-			$	5,542,768			$	(674	)
Political subdivisions of States, Territories and Possessions			549,276				(5,153	)			2				13,205,628				(3,338,913	)			12				13,754,904				(3,344,066	)
Corporate and other bonds industrial and miscellaneous			24,592,198				(777,717	)			33				48,415,831				(6,479,111	)			57				73,008,029				(7,256,828	)
Residential mortgage and other asset backed securities			8,454,568				(496,219	)			15				36,667,595				(6,739,006	)			32				45,122,163				(7,235,225	)
Total fixed-maturity securities		$	39,138,810			$	(1,279,763	)			51			$	98,289,054			$	(16,557,030	)			101			$	137,427,864			$	(17,836,793	)

		December 31, 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		$	18,918,196			$	(6,928	)			3			$	-				-				-			$	18,918,196			$	(6,928	)
Political subdivisions of States, Territories and Possessions			7,970,633				(2,195,273	)			9				5,170,753				(1,771,494	)			5				13,141,386				(3,966,767	)
Corporate and other bonds industrial and miscellaneous			56,910,104				(5,796,994	)			75				15,172,381				(2,458,985	)			15				72,082,485				(8,255,979	)
Residential mortgage and other asset backed securities			10,145,880				(882,664	)			22				34,753,178				(7,150,803	)			26				44,899,058				(8,033,467	)
Total fixed-maturity securities		$	93,944,813			$	(8,881,859	)			109			$	55,096,312			$	(11,381,282	)			46			$	149,041,125			$	(20,263,141	)

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