XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues    
Net premiums earned $ 28,819,902 $ 28,254,953
Ceding commission revenue 4,567,111 5,445,407
Net investment income 1,502,860 1,541,492
Net gains on investments 726,391 1,224,871
Other income 148,913 161,040
Total revenues 35,765,177 36,627,763
Expenses    
Loss and loss adjustment expenses 17,859,587 25,039,410
Commission expense 7,851,812 8,539,762
Other underwriting expenses 5,880,605 6,871,619
Other operating expenses 778,082 662,634
Depreciation and amortization 596,513 808,130
Interest expense 993,875 1,009,891
Total expenses 33,960,474 42,931,446
Income (loss) from operations before taxes 1,804,703 (6,303,683)
Income tax expense (benefit) 378,024 (1,248,973)
Net income (loss) 1,426,679 (5,054,710)
Other comprehensive (loss) income, net of tax    
Gross change in unrealized (losses) gains on available-for-sale-securities (560,347) 2,467,426
Reclassification adjustment for losses included in net income (loss) 2,867 2,639
Net change in unrealized (losses) gains, on available-for-sale-securities (557,480) 2,470,065
Income tax benefit (expense) related to items of other comprehensive (loss) income 117,072 (518,713)
Other comprehensive (loss) income, net of tax (440,408) 1,951,352
Comprehensive income (loss) $ 986,271 $ (3,103,358)
Earnings (loss) per common share:    
Basic $ 0.13 $ (0.47)
Diluted $ 0.12 $ (0.47)
Weighted average common shares outstanding    
Basic 10,999,662 10,756,913
Diluted 11,791,520 10,756,913