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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2023
Fair Value Measurements  
Schedule of Fair Value Measurements

 

 

December 31, 2023

 

 

 

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

 

$20,939,190

 

 

$-

 

 

$-

 

 

$20,939,190

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Political subdivisions of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

States, Territories and

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Possessions

 

 

-

 

 

 

13,398,552

 

 

 

-

 

 

 

13,398,552

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate and other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

bonds industrial and

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

miscellaneous

 

 

70,107,746

 

 

 

-

 

 

 

-

 

 

 

70,107,746

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage and other asset backed securities

 

 

-

 

 

 

44,475,309

 

 

 

-

 

 

 

44,475,309

 

Total fixed maturities

 

 

91,046,936

 

 

 

57,873,861

 

 

 

-

 

 

 

148,920,797

 

Equity securities

 

 

14,762,340

 

 

 

-

 

 

 

-

 

 

 

14,762,340

 

Total investments

 

$105,809,276

 

 

$57,873,861

 

 

$-

 

 

$163,683,137

 

 

 

 

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

 

Schedule of Hedge Fund Investments

Category

 

December 31, 2023

 

 

December 31, 2022

 

 

 

 

 

 

Other Investments

 

 

 

 

 

 

Hedge fund

 

$3,897,150

 

 

$2,771,652

 

Fair value hierarchy of long-term debt

 

 

December 31, 2023

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Debt

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Senior Notes due 2024

 

$-

 

 

$17,812,500

 

 

$-

 

 

$17,812,500

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2022

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Debt

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Senior Notes due 2022

 

$-

 

 

$15,829,096

 

 

$-

 

 

$15,829,096