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Investments (Tables)

3 Months Ended

Mar. 31, 2024

Investments

Schedule of Available for Sale Securities

		March 31, 2024
		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)		$	35,735,950			$	-			$	(28,592	)		$	-			$	35,707,358			$	(28,592	)
Political subdivisions of States, Territories and Possessions			16,600,086				-				-				(3,289,577	)			13,310,509				(3,289,577	)
Corporate and other bonds
Industrial and miscellaneous			74,663,044				-				-				(6,019,568	)			68,643,476				(6,019,568	)
Residential mortgage and other asset backed securities (2)			50,345,615				133,220				(3,266	)			(6,889,842	)			43,585,727				(6,759,888	)
Total fixed-maturity securities		$	177,344,695			$	133,220			$	(31,858	)		$	(16,198,987	)		$	161,247,070			$	(16,097,625	)

		December 31, 2023
		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)		$	20,954,764			$	1,799			$	(17,373	)		$	-			$	20,939,190			$	(15,574	)
Political subdivisions of States, Territories and Possessions			16,607,713				-				-				(3,209,161	)			13,398,552				(3,209,161	)
Corporate and other bonds
Industrial and miscellaneous			75,993,042				-				-				(5,885,296	)			70,107,746				(5,885,296	)
Residential mortgage and other asset backed securities (2)			50,905,423				113,761				(2,144	)			(6,541,731	)			44,475,309				(6,430,114	)
Total fixed-maturity securities		$	164,460,942			$	115,560			$	(19,517	)		$	(15,636,188	)		$	148,920,797			$	(15,540,145	)

Schedule of available for sale fixed maturity securities contractual maturity

		March 31, 2024								December 31, 2023
		Amortized				Estimated				Amortized				Estimated
Remaining Time to Maturity		Cost				Fair Value				Cost				Fair Value
Less than one year		$	52,751,113			$	52,469,326			$	34,729,120			$	34,461,172
One to five years			28,855,096				27,378,577				31,803,338				30,416,618
Five to ten years			31,468,786				26,916,621				31,596,410				27,330,377
More than 10 years			13,924,085				10,896,819				15,426,651				12,237,321
Residential mortgage and other asset backed securities			50,345,615				43,585,727				50,905,423				44,475,309
Total		$	177,344,695			$	161,247,070			$	164,460,942			$	148,920,797

Schedule of equity securities

		March 31, 2024
						Gross				Gross
						Unrealized				Unrealized				Estimated
Category		Cost				Gains				Losses				Fair Value
Equity Securities:
Preferred stocks		$	11,815,602			$	-			$	(2,246,277	)		$	9,569,325
Fixed income exchange traded funds			3,711,232				-				(723,832	)			2,987,400
Mutual funds			523,320				387,388				-				910,708
FHLBNY common stock			69,400				-				-				69,400
Total		$	16,119,554			$	387,388			$	(2,970,109	)		$	13,536,833

		December 31, 2023
						Gross				Gross
						Unrealized				Unrealized				Estimated
Category		Cost				Gains				Losses				Fair Value
Equity Securities:
Preferred stocks		$	13,583,942			$	-			$	(2,870,027	)		$	10,713,915
Fixed income exchange traded funds			3,711,232								(669,232	)			3,042,000
Mutual funds			622,209				314,816				-				937,025
FHLBNY common stock			69,400				-				-				69,400
Total		$	17,986,783			$	314,816			$	(3,539,259	)		$	14,762,340

Schedule of Other Investments

		March 31, 2024												December 31, 2023
						Gross				Estimated								Gross				Estimated
Category		Cost				Gains				Fair Value				Cost				Gains				Fair Value
Other Investments:
Hedge fund		$	1,987,040			$	2,087,136			$	4,074,176			$	1,987,040			$	1,910,110			$	3,897,150

Schedule of Held to Maturity Securities

		March 31, 2024
		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
Held-to-Maturity Securities:
U.S. Treasury securities		$	1,228,936			$	1,818			$	(14,906	)		$	(23,047	)		$	1,192,801			$	(36,135	)
Political subdivisions of States, Territories and Possessions			499,306				-				(3,326	)			-				495,980				(3,326	)
Exchange traded debt			304,111				-				-				(64,111	)			240,000				(64,111	)
Corporate and other bonds Industrial and miscellaneous			5,018,899				-				-				(903,769	)			4,115,130				(903,769	)
Total		$	7,051,252			$	1,818			$	(18,232	)		$	(990,927	)		$	6,043,911			$	(1,007,341	)

		December 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		$	1,228,860			$	15,045			$	(6,914	)		$	(18,163	)		$	1,218,828			$	(10,032	)
Political subdivisions of States, Territories and Possessions			499,170				890				-				-				500,060				890
Exchange traded debt			304,111				-				-				(70,111	)			234,000				(70,111	)
Corporate and other bonds Industrial and miscellaneous			5,020,400				-				-				(867,140	)			4,153,260				(867,140	)
Total		$	7,052,541			$	15,935			$	(6,914	)		$	(955,414	)		$	6,106,148			$	(946,393	)

Schedule of Held to Maturity Securities by contractual maturity

		March 31, 2024								December 31, 2023
		Amortized				Estimated				Amortized				Estimated
Remaining Time to Maturity		Cost				Fair Value				Cost				Fair Value
Less than one year		$	-			$	-			$	-			$	-
One to five years			1,121,488				1,087,009				1,121,288				1,097,101
Five to ten years			1,418,024				1,289,190				1,414,911				1,270,770
More than 10 years			4,511,740				3,667,712				4,516,342				3,738,277
Total		$	7,051,252			$	6,043,911			$	7,052,541			$	6,106,148

Schedule of Investment Income

		Three months ended
		March 31,
		2024				2023
Income:
Fixed-maturity securities		$	1,182,629			$	1,417,709
Equity securities			177,169				176,877
Cash and cash equivalents			196,137				32,858
Total			1,555,935				1,627,444
Expenses:
Investment expenses			53,075				85,952
Net investment income		$	1,502,860			$	1,541,492

Schedule of net gains on investments

		Three months ended
		March 31,
		2024				2023
Realized Losses
Fixed-maturity securities:
Gross realized gains		$	84			$	418
Gross realized losses			(2,951	)			(3,057	)
			(2,867	)			(2,639	)
Equity securities:
Gross realized gains			5,120				-
Gross realized losses			(94,610	)			-
			(89,490	)			-
Net realized losses			(92,357	)			(2,639	)
Unrealized Gains
Equity Securities:
Gross gains			641,722				863,713
Gross losses			-				-
			641,722				863,713
Other Investments:
Gross gains			177,026				363,797
Gross losses			-				-
			177,026				363,797
Net unrealized gains			818,748				1,227,510
Net gains on investments		$	726,391			$	1,224,871

Schedule of Securities with Unrealized Losses

		March 31, 2024
		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
Available-for-Sale Securities:
U.S. Treasury securities and obligations of U.S. government corporations and agencies		$	35,707,358			$	(28,592	)			2			$	-				-				-			$	35,707,358			$	(28,592	)
Political subdivisions of States, Territories and Possessions			-				-				-				13,310,509				(3,289,577	)			13				13,310,509				(3,289,577	)
Corporate and other bonds industrial and miscellaneous			-				-				-				67,648,476				(6,019,568	)			82				67,648,476				(6,019,568	)
Residential mortgage and other asset backed securities			111,165				(3,266	)			6				37,784,418				(6,889,842	)			37				37,895,583				(6,893,108	)
Total fixed-maturity securities		$	35,818,523			$	(31,858	)			8			$	118,743,403			$	(16,198,987	)			132			$	154,561,926			$	(16,230,845	)

		December 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
Available-for-Sale Securities:
U.S. Treasury securities and obligations of U.S. government corporations and agencies		$	5,974,440			$	(17,373	)			1			$	-				-				-			$	5,974,440			$	(17,373	)
Political subdivisions of States, Territories and Possessions			-				-				-				13,398,552				(3,209,161	)			13				13,398,552				(3,209,161	)
Corporate and other bonds industrial and miscellaneous			-				-				-				70,107,746				(5,885,296	)			85				70,107,746				(5,885,296	)
Residential mortgage and other asset backed securities			88,988				(2,144	)			4				38,675,604				(6,541,731	)			37				38,764,592				(6,543,875	)
Total fixed-maturity securities		$	6,063,428			$	(19,517	)			5			$	122,181,902			$	(15,636,188	)			135			$	128,245,330			$	(15,655,705	)

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