XML 19 R2.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Assets    
Available for sale fixed maturity securities (amortized cost: $35,256,039 and $33,784,518 as of December 31, 2021 and December 31, 2020, respectively) $ 37,942,657 $ 37,677,578
Equity securities, at fair value 9,157,193 9,221,574
Mortgage loans on real estate 3,653,142 3,166,136
Funds withheld under coinsurance agreement, at fair value 49,018,974 46,830,076
Policy loans 173,341 163,725
Real estate, net of depreciation 1,403,137 1,415,743
Total investments 101,348,444 98,474,832
Cash and cash equivalents 7,955,348 4,320,759
Investment income due and accrued 698,504 423,036
Reinsurance related assets 3,438 165,082
Deferred acquisition costs, net 6,354,875 7,105,890
Value of business acquired 2,610,813 2,703,233
Property, equipment and software, net 92,785 37,818
Goodwill 277,542 277,542
Deferred tax asset, net of valuation allowance 1,560,767 243,257
Other assets 582,318 1,635,647
Total assets 121,484,834 115,387,096
Liabilities:    
Deposit-type contracts 75,567,873 72,082,207
Policyholder benefit reserves 25,204,578 21,158,568
Dividend accumulation 118,262 116,127
Advance premiums 136,229 102,178
Total policy liabilities 101,026,942 93,459,080
Accounts payable and accrued expenses 689,065 1,507,756
Federal Home Loan Bank advance (2,000,000) (2,000,000)
Other liabilities 187,071 15,469
Total liabilities 103,903,078 96,982,305
Shareholders' Equity:    
Common stock, $0.10 par value. Authorized 20,000,000 shares; issued and outstanding 7,745,404 and 7,741,487 shares as of December 31, 2021 and December 31, 2020, respectively 774,541 774,150
Additional paid-in capital 22,948,637 23,063,273
Accumulated deficit (8,663,152) (8,997,507)
Accumulated other comprehensive income 2,521,730 3,564,875
Total shareholders' equity 17,581,756 18,404,791
Total liabilities and shareholders' equity 121,484,834 115,387,096
Fixed Maturities [Member]    
Assets    
Available for sale fixed maturity securities (amortized cost: $35,256,039 and $33,784,518 as of December 31, 2021 and December 31, 2020, respectively) $ 37,942,657 $ 37,677,578