Investments (Tables)

6 Months Ended

Jun. 30, 2013

Investments Tables

Investment Income

A summary of total investment income is as follows:

	Three Months Ended				Six Months Ended
	June 30				June 30
	2013		2012		2013		2012
Fixed maturities	$	89,855	$	464,620	$	188,161	$	1,042,101
Short-term investments		21,592		9,776		44,946		14,368
Total Investment Income	$	111,447	$	474,396	$	233,107	$	1,056,469

Available for sale investments

The amortized cost and estimated fair values of investments in fixed maturities by category are as follows:

		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
June 30, 2013
Available for sale:
Fixed maturities
Certificates of deposit	$	7,794,000	$	—	$	—		$	7,794,000
U.S. treasury securities		16,100,139		40,689		(3,075	)		16,137,753
Total Fixed Maturities	$	23,894,139	$	40,689	$	(3,075	)	$	23,931,753
December 31, 2012
Available for sale:
Fixed maturities
Certificates of deposit	$	10,090,000	$	—	$	—		$	10,090,000
U.S. treasury securities		23,354,211		183,791		—			23,538,002
Total Fixed Maturities	$	33,444,211	$	183,791	$	—		$	33,628,002

Unrealized appreciation (depreciation) on investments

A summary of the unrealized appreciation (depreciation) on investments carried at fair value and the applicable deferred federal income taxes are shown below:

		June 30			December 31
		2013			2012
Gross unrealized appreciation of fixed maturities	$	40,689		$	183,791
Gross unrealized (depreciation) of fixed maturities		(3,075	)		—
Net unrealized appreciation on investments		37,614			183,791
Deferred federal tax expense		(12,789	)		(62,489	)
Net Unrealized Appreciation, Net of Deferred Income taxes	$	24,825		$	121,302

Investment in short term assets

Short-term investments consist of the following:

		June 30, 2013		December 31, 2012
U.S. treasury bills	$	92,282,830	$	78,776,954
U.S. treasury money market fund		203,351		3,494,729
Bank money market accounts		2,132,544		3,982,804
Bank savings accounts		1,762		1,762
Total Short-Term Investments	$	94,620,487	$	86,256,249