Note 3 - Derivative Instruments

3 Months Ended

Mar. 31, 2022

Notes to Financial Statements

Derivative Instruments and Hedging Activities Disclosure [Text Block]

Note 3.     Derivative Instruments

Types of Derivatives used by the Company

The Company’s derivatives consists solely of embedded derivatives on funds withheld on coinsurance assets.

Summary of Derivative Positions

The fair value of the Company’s derivative financial instruments on the consolidated balance sheets is as follows:

	March 31, 2022				December 31, 2021
	Derivative				Derivative				Balance
	Asset		Liability		Asset		Liability		Reported In
	(unaudited)
Derivatives:
Embedded derivatives:
Funds withheld embedded derivative	$	262,551	$	-	$	544,768	$	-	Funds withheld

The following table shows the change in the fair value of the derivative financial instruments in the consolidated statements of comprehensive income:

	Three Months Ending			Three Months Ending			Balance
	March 31, 2022			March 31, 2021			Reported In
	(unaudited)			(unaudited)
Derivatives:
Embedded derivatives:
Change in funds withheld embedded derivative	$	(282,217	)	$	(202,647	)	Net investment losses