Fair Value Of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2018

Fair Value Of Financial Instruments

Fair value of financial instruments

The following table presents information about the Company’s consolidated financial instruments and their estimated fair values, which are measured on a recurring basis, and are allocated among the three levels within the fair value hierarchy as of June 30, 2018, and December 31, 2017:

	Level 1		Level 2		Level 3		Total
June 30, 2018
Financial instruments:
Available-for-sale fixed maturities:
U.S. treasury securities	$	10,512,602	$	—	$	—	$	10,512,602
Corporate securities		—		32,326,331		—		32,326,331
Agency mortgage backed securities		—		21,929,549		—		21,929,549
Held-to-maturity fixed securities:
Certificates of deposit		—		20,602,000		—		20,602,000
Total fixed maturities		10,512,602		74,857,880		—		85,370,482
Cash, cash equivalents, and restricted cash		7,835,200		—		—		7,835,200
Short-term investments		200,000		—		—		200,000
Total financial instruments at fair value	$	18,547,802	$	74,857,880	$	—	$	93,405,682
December 31, 2017
Financial instruments:
Available-for-sale fixed maturities:
U.S. treasury securities	$	7,454,225	$	—	$	—	$	7,454,225
Corporate securities		—		28,657,640		—		28,657,640
Agency mortgage backed securities		—		21,737,589		—		21,737,589
Held-to-maturity fixed securities:
Certificates of deposit		—		28,098,000		—		28,098,000
Total fixed maturities		7,454,225		78,493,229		—		85,947,454
Cash, cash equivalents, and restricted cash		9,366,944		—		—		9,366,944
Short-term investments		1,847,778		—		—		1,847,778
Total financial instruments at fair value	$	18,668,947	$	78,493,229	$	—	$	97,162,176