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Income Statement (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenues:        
Premiums and policy fees $ 3,622,448 $ 3,910,489 $ 7,402,014 $ 8,033,347
Ceded Reinsurance premiums and policy fees (1,002,699) (1,481,444) (1,830,973) (2,447,535)
Net investment income 5,575,059 4,875,160 11,866,576 9,198,109
Other income 522,480 472,971 1,001,704 939,353
Revenues before realized gains (losses) 8,717,288 7,777,176 18,439,321 15,723,274
Other-than-temporary impairments (222,947) 0 (262,067) (477,386)
Other realized investment gains (losses), net 325,990 736 1,921,508 215,672
Total realized investment gains (losses), net 103,043 736 1,659,441 (261,714)
Total revenues 8,820,331 7,777,912 20,098,762 15,461,560
Benefits and other expenses:        
Life 4,702,304 5,862,899 9,775,949 11,874,555
Ceded Reinsurance benefits and claims (826,845) (2,113,801) (1,510,834) (3,869,632)
Annuity 254,810 332,393 523,541 498,061
Dividends to policyholders 139,216 151,625 291,785 319,548
Commissions and amortization of deferred policy acquisition costs (219,139) (226,811) (431,829) (344,185)
Amortization of cost of insurance acquired 307,754 331,183 615,508 662,366
Operating expenses 2,064,465 1,848,216 4,130,802 3,819,786
Interest expense 82,001 84,593 139,963 181,277
Total benefits and other expenses 6,504,566 6,270,297 13,534,885 13,141,776
Income (loss) before income taxes 2,315,765 1,507,615 6,563,877 2,319,784
Income tax (expense) benefit (919,968) (234,208) (1,383,711) (546,737)
Net income (loss) 1,395,797 1,273,407 5,180,166 1,773,047
Net (income) loss attributable to noncontrolling interest (139,861) (88,107) (564,265) (252,556)
Net income (loss) attributable to common shareholders' $ 1,255,936 $ 1,185,300 $ 4,615,901 $ 1,520,491
Basic income per share $ 0.33 $ 0.31 $ 1.21 $ 0.39
Diluted income per share $ 0.33 $ 0.31 $ 1.21 $ 0.39
Basic weighted average shares outstanding 3,823,305 3,879,794 3,828,572 3,877,852
Diluted weighted average shares outstanding 3,823,305 3,879,794 3,828,572 3,877,852