| Fair Value Measurements for Investments in Available-for-Sale Fixed Maturity and Equity Securities |
The following table presents our fair value measurements for our
investments in available-for-sale fixed
maturity and equity securities at December 31, 2017:
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Fair Value Measurements Using |
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Fair Value |
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Quoted Prices in
Active Markets
for Identical
Assets (Level 1) |
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Significant
Other
Observable
Inputs (Level 2) |
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Significant
Unobservable
Inputs (Level 3) |
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U.S. Treasury securities and obligations of U.S. government
corporations and agencies
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$ |
44,049,424 |
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$ |
— |
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$ |
44,049,424 |
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$ |
— |
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Obligations of states and political subdivisions
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132,117,170 |
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— |
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132,117,170 |
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— |
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Corporate securities
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105,739,419 |
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— |
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105,739,419 |
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— |
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Mortgage-backed securities
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257,040,037 |
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— |
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257,040,037 |
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— |
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Equity securities
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36,736,121 |
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36,736,121 |
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— |
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— |
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Total investments in the fair value hierarchy
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575,682,171 |
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36,736,121 |
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538,946,050 |
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— |
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Investment measured at net asset value
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13,709,122 |
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— |
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— |
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— |
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Totals
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$ |
589,391,293 |
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$ |
36,736,121 |
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$ |
538,946,050 |
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$ |
— |
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The following table presents our fair value measurements for our
investments in available-for-sale fixed
maturity and equity securities at December 31, 2016:
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Fair Value Measurements Using |
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Fair Value |
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|
Quoted Prices in
Active Markets
for Identical
Assets (Level 1) |
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Significant
Other
Observable
Inputs (Level 2) |
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Significant
Unobservable
Inputs (Level 3) |
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U.S. Treasury securities and obligations of U.S. government
corporations and agencies
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$ |
38,588,024 |
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$ |
— |
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$ |
38,588,024 |
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$ |
— |
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Obligations of states and political subdivisions
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186,082,885 |
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— |
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186,082,885 |
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— |
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Corporate securities
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87,455,819 |
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— |
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87,455,819 |
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— |
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Mortgage-backed securities
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202,948,212 |
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— |
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202,948,212 |
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— |
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Equity securities
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35,922,337 |
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35,922,337 |
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— |
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— |
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Total investments in the fair value hierarchy
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550,997,277 |
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35,922,337 |
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515,074,940 |
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— |
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Investment measured at net asset value
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11,165,505 |
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— |
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— |
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— |
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Totals
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$ |
562,162,782 |
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$ |
35,922,337 |
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$ |
515,074,940 |
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$ |
— |
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