Reconciliation of Statutory Filings to Amounts Reported in the Consolidated Financial Statements (Tables)

12 Months Ended

Dec. 31, 2018

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Reconciliations of Statutory Net Income and Capital and Surplus

Reconciliations of statutory net (loss) income and capital and surplus, as determined using SAP, to the net (loss) income and stockholders’ equity amounts included in the accompanying consolidated financial statements are as follows:

	Year Ended December 31,
	2018			2017			2016
Statutory net (loss) income of insurance subsidiaries	$	(33,246,417	)	$	1,677,549		$	26,926,349
Increases (decreases):
Deferred policy acquisition costs		325,267			3,980,664			4,200,808
Deferred federal income taxes		4,179,807			1,334,410			(2,030,865	)
Salvage and subrogation recoverable		2,061,600			1,199,200			1,502,600
Consolidating eliminations and adjustments		(16,013,971	)		(13,534,428	)		(12,327,517	)
Parent-only net income		9,933,374			12,458,705			12,529,762
Net (loss) income	$	(32,760,340	)	$	7,116,100		$	30,801,137

	December 31,
	2018			2017			2016
Statutory capital and surplus of insurance subsidiaries	$	364,518,536		$	407,125,532		$	421,752,063
Increases (decreases):
Deferred policy acquisition costs		60,615,127			60,289,860			56,309,196
Deferred federal income taxes		(20,094,374	)		(14,422,511	)		(20,843,506	)
Salvage and subrogation recoverable		20,038,200			17,976,600			16,777,400
Non-admitted assets and other adjustments, net		1,904,083			1,960,089			1,689,814
Fixed maturities		(16,528,367	)		(8,748,140	)		(7,271,932	)
Parent-only equity and other adjustments		(11,583,304	)		(15,485,326	)		(29,797,715	)
Stockholders’ equity	$	398,869,901		$	448,696,104		$	438,615,320