Note 2 - Investments (Tables)

6 Months Ended

Jun. 30, 2023

Notes Tables

Debt Securities, Available-for-Sale [Table Text Block]

	June 30, 2023
	Cost or		Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses			Fair Value
	(unaudited)
Available for sale:
Fixed maturities:
US Treasury securities	$	786,260	$	-	$	(59,515	)	$	726,745
Corporate bonds		19,286,073		3,993		(2,918,435	)		16,371,631
Municipal bonds		6,218,178		7,116		(596,541	)		5,628,753
Redeemable preferred stock		3,627,683		-		(411,828	)		3,215,855
Term loans		18,191,123		31,348		(157,149	)		18,065,322
Mortgage backed and asset backed securities		23,753,821		222,540		(1,178,450	)		22,797,911
Total available for sale	$	71,863,138	$	264,997	$	(5,321,918	)	$	66,806,217

	December 31, 2022
	Cost or		Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses			Fair Value
Available for sale:
Fixed maturities:
US Treasury securities	$	993,805	$	36,313	$	(5,031	)	$	1,025,087
Corporate bonds		19,018,738		722		(3,150,382	)		15,869,078
Municipal bonds		6,228,636		-		(808,227	)		5,420,409
Redeemable preferred stock		3,875,526		-		(519,911	)		3,355,615
Term loans		18,086,124		209,989		(146,395	)		18,149,718
Mortgage backed and asset backed securities		22,412,895		157,795		(1,074,520	)		21,496,170
Total available for sale	$	70,615,724	$	404,819	$	(5,704,466	)	$	65,316,077

Investments Classified by Contractual Maturity Date [Table Text Block]

	As of June 30, 2023				As of December 31, 2022
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
	(unaudited)
Amounts maturing in:
One year or less	$	-	$	-	$	442,846	$	450,461
After one year through five years		17,284,997		17,076,966		17,048,721		17,035,270
After five years through ten years		6,230,771		6,085,051		5,498,364		5,340,498
More than 10 years		20,965,866		17,630,434		21,337,372		17,638,063
Redeemable preferred stocks		3,627,683		3,215,855		3,875,526		3,355,615
Mortgage backed and asset backed securities		23,753,821		22,797,911		22,412,895		21,496,170
Total amortized cost and fair value	$	71,863,138	$	66,806,217	$	70,615,724	$	65,316,077

Realized Gain (Loss) on Investments [Table Text Block]

	Six Months Ended June 30,
	(unaudited)
	2023			2022
Gross gains	$	9,857		$	3,164
Gross losses		(88,740	)		(2,541	)
Realized gains (losses)	$	(78,883	)	$	623
Mortgage loans on real estate		115,762			-
Decrease in allowance for credit losses	$	115,762		$	-

	Three Months Ended June 30,
	(unaudited)
	2023			2022
Gross gains	$	-		$	1,264
Gross losses		(263,968	)		-
Net security losses	$	(263,968	)	$	1,264
Mortgage loans on real estate		102,537			-
Decrease in allowance for credit losses	$	102,537		$	-

Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value [Table Text Block]

	Less than 12 months					Greater than 12 months					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Loss			Value		Loss			Value		Loss
	(unaudited)
June 30, 2023
Available for sale:
Fixed maturities:
US Treasury securities	$	726,745	$	(59,515	)	$	-	$	-		$	726,745	$	(59,515	)
Corporate bonds		2,756,472		(182,014	)		13,107,572		(2,736,421	)		15,864,044		(2,918,435	)
Municipal bonds		2,184,086		(87,433	)		3,075,544		(509,108	)		5,259,630		(596,541	)
Redeemable preferred stock		209,131		(9,974	)		2,944,473		(401,854	)		3,153,604		(411,828	)
Term loans		8,701,430		(157,149	)		-		-			8,701,430		(157,149	)
Mortgage backed and asset backed securities		10,355,775		(439,055	)		4,186,792		(739,395	)		14,542,567		(1,178,450	)
Total fixed maturities	$	24,933,639	$	(935,140	)	$	23,314,381	$	(4,386,778	)	$	48,248,020	$	(5,321,918	)

	Less than 12 months					Greater than 12 months					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Loss			Value		Loss			Value		Loss
December 31, 2022
Available for sale:
Fixed maturities:
US Treasury securities	$	398,375	$	(5,031	)	$	-	$	-		$	398,375	$	(5,031	)
Corporate bonds		12,378,486		(1,883,706	)		3,206,913		(1,266,676	)		15,585,399		(3,150,382	)
Municipal bonds		4,711,896		(587,053	)		708,514		(221,174	)		5,420,410		(808,227	)
Redeemable preferred stock		2,384,771		(363,193	)		970,844		(156,718	)		3,355,615		(519,911	)
Term loans		6,309,005		(146,395	)		-		-			6,309,005		(146,395	)
Mortgage backed and asset backed securities		10,358,560		(458,754	)		3,281,132		(615,766	)		13,639,692		(1,074,520	)
Total fixed maturities	$	36,541,093	$	(3,444,132	)	$	8,167,402	$	(2,260,334	)	$	44,708,495	$	(5,704,466	)

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

	June 30, 2023			December 31, 2022
	(unaudited)
Commercial mortgage loans by property type
Condominium	$	1,776,547		$	1,696,975
Land		1,902,277			1,902,277
Multi-property		9,514,050			9,539,738
Multi-family		5,660,758			5,016,424
Retail/Office		5,475,714			5,634,659
Total commercial mortgages	$	24,329,346		$	23,790,073
Allowance for credit losses		(34,611	)		-
Carrying value	$	24,294,735		$	23,790,073

Schedule of Mortage Loans by Loan-to-Value Ratio [Table Text Block]

	June 30, 2023			December 31, 2022
	(unaudited)
Loan to value ratio
Over 70 to 80%	$	8,214,050		$	8,219,763
Over 60 to 70%		4,276,547			5,196,975
Over 50 to 60%		5,330,127			4,682,750
Over 40 to 50%		4,055,181			3,235,951
Over 20 to 30%		1,300,000			1,319,975
Over 10 to 20%		1,153,441			1,134,659
Total	$	24,329,346		$	23,790,073
Allowance for credit losses		(34,611	)		-
Carrying value	$	24,294,735		$	23,790,073

Schedule of Mortgage Loans by Maturity Date [Table Text Block]

	June 30, 2023			December 31, 2022
	(unaudited)
Maturity Date
One year or less	$	19,523,001		$	15,354,542
After one year through five years		4,806,345			8,435,531
Total	$	24,329,346		$	23,790,073
Allowance for credit losses		(34,611	)		-
Carrying value	$	24,294,735		$	23,790,073

Financing Receivable, Allowance for Credit Loss [Table Text Block]

	Six Months Ended June 30, 2023
	(unaudited)
	Specific Allowance		General Allowance
Beginning allowance balance	$	-	$	-
Cumulative adjustment for changes in accounting principle		-		150,373
Charge-offs		-		-
Recoveries		-		-
Change in provision for credit losses		-		(115,762	)
Ending Allowance	$	-	$	34,611

Investment Income [Table Text Block]

	Six Months Ended June 30,
	2023			2022
	(unaudited)
Fixed maturities	$	2,895,537		$	559,262
Mortgages		1,003,013			116,350
Equity securities		394,800			312,498
Funds withheld		-			1,621,509
Other invested assets		100,865			-
Cash and cash equivalents		35,960			5,471
		4,430,175			2,615,090
Less investment expenses		(1,140,681	)		(44,403	)
	$	3,289,494		$	2,570,687

	Three Months Ended June 30,
	2023			2022
	(unaudited)
Fixed maturities	$	1,856,114		$	283,929
Mortgages		493,991			88,959
Equity securities		184,430			157,824
Funds withheld		-			921,201
Other invested assets		54,925			-
Cash and cash equivalents		21,939			5,011
		2,611,339			1,456,924
Less investment expenses		(827,515	)		(37,859	)
	$	1,783,884		$	1,419,065