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Consolidated Balance Sheets - USD ($)
Mar. 31, 2024
Dec. 31, 2023
Fixed maturities    
Held to maturity, at amortized cost (net of allowance for expected credit losses of $1,329,099 and $1,325,847) $ 683,398,852 $ 679,497,038
Available for sale, at fair value 600,761,425 589,348,243
Equity securities, at fair value 28,883,318 25,902,956
Short-term investments, at cost, which approximates fair value 18,860,030 32,305,408
Total investments 1,331,903,625 1,327,053,645
Cash 19,805,040 23,792,273
Accrued investment income 10,497,341 9,945,714
Premiums receivable 193,160,160 179,591,821
Reinsurance receivable (net of allowance for expected credit losses of $1,026,016 and $1,394,074) 435,505,126 441,431,334
Deferred policy acquisition costs 78,857,108 75,043,404
Deferred tax asset, net 19,483,755 19,532,525
Prepaid reinsurance premiums 179,757,762 168,724,465
Property and equipment, net 2,594,056 2,633,405
Accounts receivable - securities 32,162 1,501,079
Federal income taxes recoverable 7,271,415 8,102,321
Due from affiliate 8,841,178 1,907,527
Goodwill 5,625,354 5,625,354
Other intangible assets 958,010 958,010
Other 15,961 451,011
Total assets 2,294,308,053 2,266,293,888
Liabilities    
Losses and loss expenses 1,124,452,191 1,126,156,838
Unearned premiums 634,136,621 599,411,468
Accrued expenses 3,685,534 3,946,974
Reinsurance balances payable 4,016,080 8,758,976
Borrowings under lines of credit 35,000,000 35,000,000
Cash dividends declared to stockholders 0 5,569,992
Other 7,931,153 7,704,286
Total liabilities 1,809,221,579 1,786,548,534
Stockholders' Equity    
Preferred stock, $.01 par value, authorized 2,000,000 shares; none issued 0 0
Additional paid-in capital 336,817,945 335,694,478
Accumulated other comprehensive loss (34,483,112) (32,881,822)
Retained earnings 223,613,313 217,794,917
Treasury stock, at cost (41,226,357) (41,226,357)
Total stockholders' equity 485,086,474 479,745,354
Total liabilities and stockholders' equity 2,294,308,053 2,266,293,888
Class A Common Stock [Member]    
Stockholders' Equity    
Common stock 308,193 307,646
Class B Common Stock [Member]    
Stockholders' Equity    
Common stock $ 56,492 $ 56,492