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Consolidated Balance Sheets - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Available-for-sale:    
Fixed maturities, at fair value (amortized cost: $80,941,028 at June 30, 2020, and $82,002,411 at December 31, 2019) $ 84,213,401 $ 83,499,710
Held-to-maturity:    
Fixed maturities, at amortized cost (fair value: $798,000 at June 30, 2020, and $798,000 at December 31, 2019) 798,000 798,000
Equity securities, at fair value (cost: $502,484 at June 30, 2020, and $0 at December 31, 2019) 525,443 0
Short-term investments, at fair value 2,199,204 2,196,815
Total Investments 87,736,048 86,494,525
Cash and cash equivalents 4,674,661 5,781,639
Accrued investment income 395,026 397,302
Receivable, net 4,160,471 4,019,437
Reinsurance Recoverable:    
Paid losses and loss adjustment expenses 361,010 685,841
Unpaid losses and loss adjustment expenses 15,806,548 14,725,855
Deferred policy acquisition costs 3,668,136 3,619,594
Property and equipment (net) 10,237,459 10,226,595
Deferred income taxes 3,604,087 3,925,432
Other assets 368,604 430,305
Total Assets 131,012,050 130,306,525
LIABILITIES    
Unpaid losses and loss adjustment expenses 54,877,319 55,066,480
Unearned premium 18,127,661 17,810,337
Advance premium and premium deposits 289,181 219,083
Accrued expenses and other liabilities 2,720,135 2,130,300
Total Liabilities 76,014,296 75,226,200
STOCKHOLDERS' EQUITY    
Common stock, no par, authorized 10,000,000 shares; 5,305,742 and 5,306,720 shares issued and outstanding at June 30, 2020, and December 31, 2019 3,772,189 3,772,669
Accumulated other comprehensive loss 2,585,175 1,182,866
Retained earnings 48,640,390 50,124,790
Total Stockholders Equity 54,997,754 55,080,325
Total Liabilities and Stockholders' Equity $ 131,012,050 $ 130,306,525