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Quarterly Financial Data (Unaudited) | 12 Months Ended
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Dec. 31, 2024
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Data (Unaudited) | Quarterly Financial Data (Unaudited) The following is a summary of unaudited quarterly results of operations for the years ended December 31, 2024 and 2023:
| 2024 |
| March 31, |  | June 30, |  | September 30, |  | December 31, |  | Total |
Net premiums earned | $ | 28,819,902 |  |  | $ | 30,303,612 |  |  | $ | 33,407,194 |  |  | $ | 35,967,212 |  |  | $ | 128,497,920 |  |
Ceding commission revenue | 4,567,111 |  |  | 4,561,961 |  |  | 4,741,676 |  |  | 4,967,198 |  |  | 18,837,946 |  |
Net investment income | 1,502,860 |  |  | 1,764,596 |  |  | 1,649,673 |  |  | 1,906,461 |  |  | 6,823,590 |  |
Net gains (losses) on investments | 726,391 |  |  | (233,606) |  |  | 826,522 |  |  | (904,756) |  |  | 414,551 |  |
Total revenues | 35,765,177 |  |  | 36,502,115 |  |  | 40,771,728 |  |  | 42,103,083 |  |  | 155,142,103 |  |
Loss and loss adjustment expenses | 17,859,587 |  |  | 14,238,308 |  |  | 13,027,597 |  |  | 17,509,224 |  |  | 62,634,716 |  |
Commission expense and |  |  |  |  |  |  |  |  |  |
other underwriting expenses | 13,732,417 |  |  | 14,133,005 |  |  | 15,898,844 |  |  | 15,857,794 |  |  | 59,622,060 |  |
Net income | 1,426,679 |  |  | 4,514,937 |  |  | 6,978,145 |  |  | 5,438,675 |  |  | 18,358,436 |  |
Basic earnings per share | $ | 0.13 |  |  | $ | 0.41 |  |  | $ | 0.61 |  |  | $ | 0.44 |  |  | $ | 1.60 |  |
Diluted earnings per share | $ | 0.12 |  |  | $ | 0.37 |  |  | $ | 0.55 |  |  | $ | 0.40 |  |  | $ | 1.48 |  |
| 2023 |
| March 31, |  | June 30, |  | September 30, |  | December 31, |  | Total |
Net premiums earned | $ | 28,254,953 |  |  | $ | 29,508,196 |  |  | $ | 27,938,318 |  |  | $ | 28,682,796 |  |  | $ | 114,384,263 |  |
Ceding commission revenue | 5,445,407 |  |  | 5,412,210 |  |  | 5,536,327 |  |  | 4,659,550 |  |  | 21,053,494 |  |
Net investment income | 1,541,492 |  |  | 1,451,356 |  |  | 1,444,360 |  |  | 1,571,474 |  |  | 6,008,682 |  |
Net gains (losses) on investments | 1,224,871 |  |  | 197,142 |  |  | (824,370) |  |  | 1,536,911 |  |  | 2,134,554 |  |
Total revenues | 36,627,763 |  |  | 36,719,988 |  |  | 34,236,671 |  |  | 36,606,292 |  |  | 144,190,714 |  |
Loss and loss adjustment expenses | 25,039,410 |  |  | 19,580,702 |  |  | 21,932,453 |  |  | 16,296,645 |  |  | 82,849,210 |  |
Commission expense and |  |  |  |  |  |  |  |  |  |
other underwriting expenses | 15,411,381 |  |  | 15,154,820 |  |  | 14,529,055 |  |  | 14,179,335 |  |  | 59,274,591 |  |
Net (loss) income | (5,054,710) |  |  | (522,017) |  |  | (3,537,571) |  |  | 2,945,952 |  |  | (6,168,346) |  |
Basic (loss) earnings per share | $ | (0.47) |  |  | $ | (0.05) |  |  | $ | (0.33) |  |  | $ | 0.27 |  |  | $ | (0.57) |  |
Diluted (loss) earnings per share | $ | (0.47) |  |  | $ | (0.05) |  |  | $ | (0.33) |  |  | $ | 0.26 |  |  | $ | (0.57) |  |
Due to changes in number of shares outstanding from quarter to quarter, the total earnings per share of the four quarters may not necessarily equal the total earnings per share for the year.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1B Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 270 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/270/tableOfContent + Details
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