FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2022

FAIR VALUE OF FINANCIAL INSTRUMENTS

Fair value of financial instruments

	Level 1		Level 2		Level 3		Total
March 31, 2022
Financial instruments:
Available-for-sale fixed maturities:
U.S. Treasury securities	$	5,692,831	$	-	$	-	$	5,692,831
Corporate securities		-		41,620,142		-		41,620,142
Agency mortgage-backed securities		-		18,531,691		-		18,531,691
Held-to-maturity securities
Certificates of deposits				300,000				300,000
Equity securities		4,030,888		-		-		4,030,888
Short-term investments		1,051,230	-			-		1,051,230
Total financial instruments at fair value	$	10,774,949	$	60,451,833	$	-	$	71,226,782
December 31, 2021
Financial instruments:
Available-for-sale fixed maturities:
U.S. Treasury securities	$	6,309,805	$	-	$	-	$	6,309,805
Corporate securities	-			45,249,973		-		45,249,973
Agency mortgage-backed securities	-			20,853,627		-		20,853,627
Held-to-maturity securities
Certificates of deposits				300,000				300,000
Equity securities		4,131,153		-		-		4,131,153
Short-term investments		1,154,750		-		-		1,154,750
Total financial instruments at fair value	$	11,595,708		66,403,600	$	-	$	77,999,308