FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2022

FAIR VALUE OF FINANCIAL INSTRUMENTS

Fair value of financial instruments

June 30, 2022	Level 1		Level 2		Level 3		Total
Financial instruments:
Available-for-sale fixed maturities:
U.S. Treasury securities	$	3,137,411	$	-	$	-	$	3,137,411
Corporate securities		-		32,724,167		-		32,724,167
Agency mortgage-backed securities		-		16,253,315		-		16,253,315
Held-to-maturity securities
Certificates of deposits		-		300,000		-		300,000
Equity securities		3,714,611		-		-		3,714,611
Short-term investments		100,000		-		-		100,000
Total financial instruments at fair value	$	6,952,022	$	49,277,482	$	-	$	56,229,504
December 31, 2021
Financial instruments:
Available-for-sale fixed maturities:
U.S. Treasury securities	$	6,309,805	$	-	$	-	$	6,309,805
Corporate securities		-		45,249,973		-		45,249,973
Agency mortgage-backed securities		-		20,853,627		-		20,853,627
Held-to-maturity securities
Certificates of deposits		-		300,000		-		300,000
Equity securities		4,131,153		-		-		4,131,153
Short-term investments		1,154,750		-		-		1,154,750
Total financial instruments at fair value	$	11,595,708	$	66,403,600	$	-	$	77,999,308