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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenue:    
Premiums and policy fees $ 2,355,755 $ 2,503,205
Ceded reinsurance premiums and policy fees (680,440) (517,055)
Net investment income 2,830,186 3,112,024
Other income 59,042 63,838
Revenue before net investment gains (losses) 4,564,543 5,162,012
Net investment gains (losses):    
Other realized investment gains, net 7,174,507 1,113,698
Change in fair value of equity securities (24,684,444) 14,787,631
Total net investment gains (losses) (17,509,937) 15,901,329
Total revenue (12,945,394) 21,063,341
Benefits, claims and settlement expenses:    
Life 3,540,361 3,427,200
Ceded reinsurance benefits and claims (634,943) (474,622)
Annuity 232,488 197,670
Dividends to policyholders 94,315 103,599
Commissions and amortization of deferred policy acquisition costs (35,117) (24,542)
Amortization of cost of insurance acquired 186,213 193,977
Operating expenses 1,986,692 2,144,389
Total benefits and other expenses 5,370,009 5,567,671
Income (loss) before income taxes (18,315,403) 15,495,670
Income tax (benefit) expense (3,368,582) 3,697,058
Net income (loss) (14,946,821) 11,798,612
Net income attributable to noncontrolling interests (32,240) (153,733)
Net income (loss) attributable to common shareholders $ (14,979,061) $ 11,644,879
Amounts attributable to common shareholders    
Basic income (loss) per share (in dollars per share) $ (4.58) $ 3.53
Diluted income (loss) per share (in dollars per share) $ (4.58) $ 3.53
Basic weighted average shares outstanding (in shares) 3,274,093 3,297,353
Diluted weighted average shares outstanding (in shares) 3,274,093 3,297,353