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Income Statement (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenues:        
Premiums and policy fees $ 3,480,117 $ 3,622,448 $ 6,996,561 $ 7,402,014
Ceded reinsurance premiums and policy fees (863,967) (1,002,699) (1,772,065) (1,830,973)
Net investment income 2,428,499 5,575,059 9,379,255 11,866,576
Other income 531,485 522,480 1,079,179 1,001,704
Revenues before realized gains 5,576,134 8,717,288 15,682,930 18,439,321
Other-than-temporary impairments 0 (222,947) 0 (262,067)
Other realized investment gains, net 3,846,725 325,990 10,982,695 1,921,508
Total realized investment gains, net 3,846,725 103,043 10,982,695 1,659,441
Total revenues 9,422,859 8,820,331 26,665,625 20,098,762
Benefits and other expenses:        
Life 5,526,152 4,702,304 11,396,960 9,775,949
Ceded Reinsurance benefits and claims (1,192,533) (826,845) (2,028,408) (1,510,834)
Annuity 218,229 254,810 478,919 523,541
Dividends to policyholders 125,646 139,216 266,270 291,785
Commissions and amortization of deferred policy acquisition costs (131,671) (219,139) (284,484) (431,829)
Amortization of cost of insurance acquired 286,375 307,754 572,750 615,508
Operating expenses 2,410,634 2,064,465 5,286,129 4,130,802
Interest expense 82,523 82,001 154,698 139,963
Total benefits and other expenses 7,325,355 6,504,566 15,842,834 13,534,885
Income before income taxes 2,097,504 2,315,765 10,822,791 6,563,877
Income tax expense (503,685) (919,968) (3,729,241) (1,383,711)
Net income 1,593,819 1,395,797 7,093,550 5,180,166
Net income attributable to noncontrolling interests (153,164) (139,861) (426,378) (564,265)
Net income attributable to common shareholders' $ 1,440,655 $ 1,255,936 $ 6,667,172 $ 4,615,901
Basic income per share (in dollars per share) $ 0.38 $ 0.33 $ 1.74 $ 1.21
Diluted income per share (in dollars per share) $ 0.38 $ 0.33 $ 1.74 $ 1.21
Basic weighted average shares outstanding (in shares) 3,814,403 3,823,305 3,825,802 3,828,572
Diluted weighted average shares outstanding (in shares) 3,814,403 3,823,305 3,825,802 3,828,572