Reconciliation of Statutory Filings to Amounts Reported Herein (Tables)

12 Months Ended

Dec. 31, 2017

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Reconciliations of Statutory Net Income and Capital and Surplus

Reconciliations of statutory net income and capital and surplus, as determined using SAP, to the amounts included in the accompanying GAAP financial statements are as follows:

	Year Ended December 31,
	2017			2016			2015
Statutory net income of insurance subsidiaries	$	1,677,549		$	26,926,349		$	22,311,517
Increases (decreases):
Deferred policy acquisition costs		3,980,664			4,200,808			3,809,780
Deferred federal income taxes		1,334,410			(2,030,865	)		(168,395	)
Salvage and subrogation recoverable		1,199,200			1,502,600			1,082,800
Consolidating eliminations and adjustments		(13,534,428	)		(12,327,517	)		(3,679,277	)
Parent-only net income (loss)		12,458,705			12,529,762			(2,366,392	)
Net income as reported herein	$	7,116,100		$	30,801,137		$	20,990,033

	December 31,
	2017			2016			2015
Statutory capital and surplus of insurance subsidiaries	$	407,125,532		$	421,752,063		$	396,840,338
Increases (decreases):
Deferred policy acquisition costs		60,289,860			56,309,196			52,108,388
Deferred federal income taxes		(14,422,511	)		(20,843,506	)		(16,930,202	)
Salvage and subrogation recoverable		17,976,600			16,777,400			15,274,800
Non-admitted assets and other adjustments, net		1,960,089			1,689,814			2,441,591
Fixed maturities		(8,748,140	)		(7,271,932	)		957,401
Parent-only equity and other adjustments		(15,485,326	)		(29,797,715	)		(42,303,748	)
Stockholders’ equity as reported herein	$	448,696,104		$	438,615,320		$	408,388,568