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Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Assets    
Fixed-maturity securities, held-to-maturity, at amortized cost (fair value of $6,106,148 at December 31, 2023 and $6,600,388 at December 31, 2022) $ 7,052,541 $ 7,766,140
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $164,460,942 at December 31, 2023 and $a174,918,427 at December 31, 2022) 148,920,797 154,715,163
Equity securities, at fair value (cost of $17,986,783 at December 31, 2023 and $18,086,700 at December 31, 2022) 14,762,340 13,834,390
Other investments 3,897,150 2,771,652
Total investments 174,632,828 179,087,345
Cash and cash equivalents 8,976,998 11,958,228
Premiums receivable, net 13,604,808 13,880,504
Reinsurance receivables, net 75,593,912 66,465,061
Deferred policy acquisition costs 19,802,564 23,819,453
Intangible assets 500,000 500,000
Property and equipment, net 9,395,697 10,541,935
Deferred income taxes, net 10,551,819 10,331,158
Other assets 4,574,584 3,748,847
Total assets 317,633,210 320,332,531
Liabilities    
Loss and loss adjustment expense reserves 121,817,862 118,339,513
Unearned premiums 105,621,538 107,492,777
Advance premiums 3,797,590 2,839,028
Reinsurance balances payable 12,837,140 13,061,966
Deferred ceding commission revenue 9,460,865 10,619,569
Accounts payable, accrued expenses and other liabilities 4,350,546 6,651,723
Debt, net 25,243,530 25,158,523
Total liabilities 283,129,071 284,163,099
Stockholders' Equity    
Preferred stock, $.01 par value; authorized 2,500,000 shares 0 0
Common stock, $.01 par value; authorized 20,000,000 shares; issued 12,248,313 shares at December 31, 2023 and 12,171,512 shares at December 31, 2022; outstanding 10,776,907 shares at December 31, 2023 and 10,700,106 shares at December 31, 2022 122,483 121,715
Capital in excess of par 75,338,010 74,519,590
Accumulated other comprehensive loss (12,274,563) (15,958,428)
Accumulated deficit (23,114,310) (16,945,964)
Treasury stock, at cost, 1,471,406 shares at December 31, 2023 and December 31, 2022 (5,567,481) (5,567,481)
Total stockholders' equity 34,504,139 36,169,432
Total liabilities and stockholders' equity $ 317,633,210 $ 320,332,531