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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 2,412,519 $ (115,709)
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of net premiums on investments 50,812 50,368
Stock option awards expense 72,046 70,280
Depreciation and amortization on property and equipment 212,778 106,873
Net realized and unrealized (gains) losses on investments (4,074,997) 2,249,172
Changes in assets and liabilities:    
Assumed reinsurance premiums receivable (3,043,984) (276,234)
Accrued investment income (16,366) (5,224)
Deferred income taxes 166,000 (2,730,000)
Deferred policy acquisition costs (94,684) (246,692)
Prepaid expenses and other assets (37,709) (299,612)
Liability for losses and loss adjustment expenses 976,784 1,760,753
Unearned premiums 256,551 666,493
Assumed reinsurance payable 4,584,410 287,888
Accrued expenses and other liabilities (61,278) 572,965
Net cash provided by operating activities 1,402,882 2,091,321
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (541,909) (567,189)
Purchases of available-for-sale securities (7,781,665) (7,694,369)
Proceeds from sales of available-for-sale securities 4,412,518 4,045,798
Proceeds from redemptions of hedge fund investments 6,491
Proceeds from redemptions of fixed maturity investments 540,000
Proceeds from maturities of fixed maturity investments 4,175,000 3,170,000
Net cash provided by (used in) investing activities 803,944 (1,039,269)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends paid (295,691) (313,417)
Purchase of shares by subsidiary, net (122,566) (486,545)
Net cash used in financing activities (418,257) (799,962)
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 1,788,569 252,090
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR 5,971,046 5,718,956
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF YEAR $ 7,759,615 $ 5,971,046