Investments (Tables)

9 Months Ended

Sep. 30, 2012

Investment Income

	Three Months Ended September 30				Nine Months Ended September 30
	2012		2011		2012		2011
Fixed maturities	$	284,149	$	732,323	$	1,326,250	$	2,267,560
Short-term investments		19,392		1,412		33,760		6,473
Total Investment Income	$	303,541	$	733,735	$	1,360,010	$	2,274,033

Available for sale investments

:

				Gross		Gross		Estimated
		Amortized		Unrealized		Unrealized		Fair
		Cost		Gains		Losses		Value
September 30, 2012
Available-for-sale:
Fixed maturities
U.S. treasury securities	$	35,364,034	$	297,451	$	—	$	35,661,485
Certificates of deposit		11,135,000		—		—		11,135,000
Total Fixed Maturities	$	46,499,034	$	297,451	$	—	$	46,796,485

				Gross		Gross		Estimated
		Amortized		Unrealized		Unrealized		Fair
		Cost		Gains		Losses		Value
December 31, 2011
Available-for-sale:
Fixed maturities
U.S. treasury securities	$	73,432,677	$	1,453,947	$	—	$	74,886,624
Certificates of deposit		16,470,000		—		—		16,470,000
Total Fixed Maturities	$	89,902,677	$	1,453,947	$	—	$	91,356,624

Unrealized appreciation on investments

		September 30			December 31
		2012			2011
Gross unrealized appreciation of fixed maturities	$	297,451		$	1,453,947
Gross unrealized (depreciation) of fixed maturities		—			—
Net unrealized appreciation on investments		297,451			1,453,947
Deferred federal tax expense		(101,133	)		(494,343	)
Net Unrealized Appreciation, Net of Deferred Income Taxes	$	196,318		$	959,604

Investment in short term assets

		September 30, 2012		December 31, 2011
U.S. treasury money market fund	$	284,958	$	6,802,126
Short-term U.S. treasury bills		73,278,111		30,288,668
Bank money market accounts		4,481,581		1,046,813
Bank savings accounts		1,762		1,862
Total Short-Term Investments	$	78,046,412	$	38,139,469