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Investments (Tables)

6 Months Ended

Jun. 30, 2024

Investments

Schedule of Available for Sale Securities

		June 30, 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)		$	40,731,889			$	561			$	-			$	(17,340	)		$	40,715,110			$	(16,779	)

Political subdivisions of States, Territories and Possessions			16,592,419				-				-				(3,337,986	)			13,254,433				(3,337,986	)

Corporate and other bonds Industrial and miscellaneous			72,098,163				-				-				(5,850,585	)			66,247,578				(5,850,585	)

Residential mortgage and other asset backed securities (2)			47,507,975				104,759				(1,377	)			(6,881,211	)			40,730,146				(6,777,829	)
Total fixed-maturity securities		$	176,930,446			$	105,320			$	(1,377	)		$	(16,087,122	)		$	160,947,267			$	(15,983,179	)

		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

		June 30, 2024								December 31, 2023
		Cost or								Cost or
		Amortized				Estimated				Amortized				Estimated
Remaining Time to Maturity		Cost				Fair Value				Cost				Fair Value

Less than one year		$	57,752,939			$	57,539,787			$	34,729,120			$	34,461,172
One to five years			29,943,749				28,178,864				31,803,338				30,416,618
Five to ten years			28,878,164				24,529,918				31,596,410				27,330,377
More than 10 years			12,847,619				9,968,552				15,426,651				12,237,321
Residential mortgage and other asset backed securities			47,507,975				40,730,146				50,905,423				44,475,309
Total		$	176,930,446			$	160,947,267			$	164,460,942			$	148,920,797

Schedule of equity securities

		June 30, 2024
						Gross				Gross
						Unrealized				Unrealized				Estimated
Category		Cost				Gains				Losses				Fair Value

Equity Securities:
Preferred stocks		$	9,750,322			$	-			$	(2,225,270	)		$	7,525,052
Fixed income exchange traded funds			3,711,232				-				(775,432	)			2,935,800
Mutual funds			502,252				399,134				-				901,386
FHLBNY common stock			66,000				-				-				66,000
Total		$	14,029,806			$	399,134			$	(3,000,702	)		$	11,428,238

		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

		June 30, 2024												December 31, 2023
						Gross				Estimated								Gross				Estimated
Category		Cost				Gains				Fair Value				Cost				Gains				Fair Value

Other Investments:
Hedge fund		$	1,987,040			$	2,205,797			$	4,192,837			$	1,987,040			$	1,910,110			$	3,897,150

Schedule of Held to Maturity Securities

		June 30, 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		$	1,229,013			$	-			$	(23,884	)		$	(22,880	)		$	1,182,249			$	(46,764	)

Political subdivisions of States,
Territories and Possessions			499,443				-				(2,788	)			-				496,655				(2,788	)

Exchange traded debt			304,111				-				-				(66,361	)			237,750				(66,361	)

Corporate and other bonds
Industrial and miscellaneous			5,017,411				-				-				(968,811	)			4,048,600				(968,811	)
Total		$	7,049,978			$	-			$	(26,672	)		$	(1,058,052	)		$	5,965,254			$	(1,084,724	)

		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

		June 30, 2024								December 31, 2023
		Cost or								Cost or
		Amortized				Estimated				Amortized				Estimated
Remaining Time to Maturity		Cost				Fair Value				Cost				Fair Value

Less than one year		$	-			$	-			$	-			$	-
One to five years			1,121,688				1,087,962				1,121,288				1,097,101
Five to ten years			1,421,173				1,287,630				1,414,911				1,270,770
More than 10 years			4,507,117				3,589,662				4,516,342				3,738,277
Total		$	7,049,978			$	5,965,254			$	7,052,541			$	6,106,148

Schedule of Investment Income

		Three months ended								Six months ended
		June 30,								June 30,
		2024				2023				2024				2023
Income:
Fixed-maturity securities		$	1,156,591			$	1,319,511			$	2,339,220			$	2,737,220
Equity securities			145,469				176,893				322,638				353,770
Cash and cash equivalents			492,054				39,394				688,191				72,252
Other			39,227				-				39,227				-
Total			1,833,341				1,535,798				3,389,276				3,163,242
Expenses:
Investment expenses			68,745				84,442				121,820				170,394
Net investment income		$	1,764,596			$	1,451,356			$	3,267,456			$	2,992,848

Schedule of net gains on investments

		Three months ended								Six months ended
		June 30,								June 30,
		2024				2023				2024				2023
Realized Losses

Fixed-maturity securities:
Gross realized gains		$	721			$	526			$	805			$	944
Gross realized losses			(5,383	)			(10,907	)			(8,334	)			(13,964	)
			(4,662	)			(10,381	)			(7,529	)			(13,020	)

Equity securities:
Gross realized gains			-				-				5,120				-
Gross realized losses			(328,757	)			-				(423,367	)			-
			(328,757	)			-				(418,247	)			-

Net realized losses			(333,419	)			(10,381	)			(425,776	)			(13,020	)

Unrealized (Losses) Gains

Equity Securities:
Gross gains			-				-				622,874				657,145
Gross losses			(18,848	)			(206,568	)			-				-
			(18,848	)			(206,568	)			622,874				657,145

Other Investments:
Gross gains			118,661				414,091				295,687				777,888
Gross losses			-				-				-				-
			118,661				414,091				295,687				777,888

Net unrealized gains			99,813				207,523				918,561				1,435,033

Net (losses) gains on investments		$	(233,606	)		$	197,142			$	492,785			$	1,422,013

Schedule of Securities with Unrealized Losses

		June 30, 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		$	-			$	-				-			$	5,979,360				(17,340	)			1			$	5,979,360			$	(17,340	)

Political subdivisions of States, Territories and Possessions			-				-				-				13,169,433				(3,337,986	)			12				13,169,433				(3,337,986	)

Corporate and other bonds industrial and miscellaneous			-				-				-				66,247,579				(5,850,585	)			80				66,247,579				(5,850,585	)

Residential mortgage and other asset backed securities			114,017				(1,377	)			6				37,025,197				(6,881,211	)			39				37,139,214				(6,882,588	)

Total fixed-maturity securities		$	114,017			$	(1,377	)			6			$	122,421,569			$	(16,087,122	)			132			$	122,535,586			$	(16,088,499	)

		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	)