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Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Available for sale fixed maturity securities (amortized cost: $70,615,724 and $35,256,039 as of December 31, 2022 and December 31, 2021, respectively) $ 65,316,077 $ 37,942,657
Equity securities, at fair value 7,395,044 9,157,193
Mortgage loans on real estate 23,790,073 3,653,142
Funds withheld under coinsurance agreement, at fair value 0 49,018,974
Other invested assets 1,760,777 0
Policy loans 34,980 173,341
Real estate, net of depreciation 1,373,716 1,403,137
Total investments 99,670,667 101,348,444
Cash and cash equivalents 4,091,507 7,955,348
Investment income due and accrued 2,086,365 698,504
Reinsurance related assets 125,549 3,438
Deferred acquisition costs, net 5,629,002 6,354,875
Value of business acquired, net 2,518,393 2,610,813
Property, equipment and software, net 132,475 92,785
Goodwill 277,542 277,542
Deferred tax asset, net of valuation allowance 3,294,522 1,560,767
Other assets 472,275 582,318
Total assets 118,298,297 121,484,834
Liabilities:    
Deposit-type contracts 79,035,350 75,567,873
Policyholder benefit reserves 29,411,984 25,204,578
Dividend accumulation 121,687 118,262
Advance premiums 168,782 136,229
Total policy liabilities 108,737,803 101,026,942
Accounts payable and accrued expenses 448,805 689,065
Federal Home Loan Bank advance (1,000,000) (2,000,000)
Other liabilities 42,295 187,071
Total liabilities 110,228,903 103,903,078
Shareholders' Equity:    
Common stock, $0.10 par value. Authorized 20,000,000 shares; issued and outstanding 7,746,922 and 7,745,404 shares as of December 31, 2022 and December 31, 2021, respectively 774,693 774,541
Additional paid-in capital 22,955,458 22,948,637
Accumulated deficit (11,819,637) (8,663,152)
Accumulated other comprehensive income (loss) (3,841,120) 2,521,730
Total shareholders' equity 8,069,394 17,581,756
Total liabilities and shareholders' equity $ 118,298,297 $ 121,484,834