XML 28 R2.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Available-for-sale:    
Fixed maturities, at fair value (amortized cost: $80,071,280 at December 31, 2020, and amortized cost: $82,002,411 at December 31, 2019) $ 83,409,694 $ 83,499,710
Held-to-maturity:    
Fixed maturities, at amortized cost (fair value: $798,000 at December 31, 2020, and fair value: $798,000 at December 31, 2019) 798,000 798,000
Equity securities, at fair value (cost: $2,548,440 at December 31, 2020, and cost: $0 at December 31, 2019) 2,746,706 0
Short-term investments, at fair value 200,000 2,196,815
Total Investments 87,154,400 86,494,525
Cash and cash equivalents 3,957,980 5,781,639
Accrued investment income 402,046 397,302
Receivables, net 3,321,337 4,019,437
Reinsurance Recoverable:    
Paid losses and loss adjustment expenses 621,307 685,841
Unpaid losses and loss adjustment expenses 22,253,642 14,725,855
Deferred policy acquisition costs 3,503,248 3,619,594
Real estate held for sale 8,335,017 0
Property and equipment (net) 2,038,415 10,226,595
Deferred income taxes 0 3,925,432
Other assets 313,363 430,305
Total Assets 131,900,755 130,306,525
LIABILITIES    
Unpaid losses and loss adjustment expenses 74,893,509 55,066,480
Unearned premium 18,188,298 17,810,337
Advance premium and premium deposits 208,538 219,083
Accrued expenses and other liabilities 3,577,450 2,130,300
Total Liabilities 96,867,795 75,226,200
STOCKHOLDERS' EQUITY    
Common stock, no par, authorized 10,000,000 shares; issued and outstanding shares 5,304,885 at December 31, 2020, and 5,306,720 at December 31, 2019 3,771,767 3,772,669
Accumulated other comprehensive loss 2,637,347 1,182,866
Retained earnings 28,623,846 50,124,790
Total Stockholders Equity 35,032,960 55,080,325
Total Liabilities and Stockholders' Equity $ 131,900,755 $ 130,306,525