XML 27 R22.htm IDEA: XBRL DOCUMENT

Investments (Tables)

9 Months Ended

Sep. 30, 2015

A summary of total investment income is as follows:

	Three Months Ended September 30				Nine Months Ended September 30
	2015		2014		2015		2014

Fixed maturities	$	117,904	$	19,796	$	275,069	$	46,428
Short-term investments		10,914		12,561		39,092		47,370
Total investment income	$	128,818	$	32,357	$	314,161	$	93,798

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
September 30, 2015
Available for sale:
Fixed maturities:
Certificates of deposit	$	39,095,000	$	—	$	—		$	39,095,000
U.S. treasury securities		29,070,981		92,496		(321	)		29,163,156
Total fixed maturities	$	68,165,981	$	92,496	$	(321	)	$	68,258,156

December 31, 2014
Available for sale:
Fixed maturities:
Certificates of deposit	$	15,089,000	$	—	$	—		$	15,089,000
U.S. treasury securities		20,064,111		14,476		(9,031	)		20,069,556
Total fixed maturities	$	35,153,111	$	14,476	$	(9,031	)	$	35,158,556

Unrealized gains (losses) on investments

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

	September 30			December 31
	2015			2014

Gross unrealized gains of fixed maturities	$	92,496		$	14,476
Gross unrealized (losses) of fixed maturities		(321	)		(9,031	)
Net unrealized gains on investments		92,175			5,445
Deferred federal tax expense		(31,339	)		(1,851	)
Net unrealized gains, net of deferred income taxes	$	60,836		$	3,594

Investment in short term assets

Short-term investments have an initial maturity of one year or less and consist of the following:

		September 30 2015		December 31 2014
U.S. treasury bills	$	34,994,208	$	69,968,988
U.S. treasury money market fund		2,255,357		1,450,451
Bank money market accounts		1,000,244		838,207
Bank savings accounts		1,762		1,762
Total short-term investments	$	38,251,571	$	72,259,408

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details