Note 6 - Reinsurance

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Reinsurance [Text Block]

Note 6. Reinsurance

A summary of significant reinsurance amounts affecting the accompanying consolidated financial statements as of December 31, 2023 and 2022 and for the years ended December 31, 2023 and 2022 is listed in the following table.

	December 31, 2023		December 31, 2022
Balance Sheet
Benefits and claim reserves ceded	$	103,944	$	87,411
Amounts due (to) from ceding company		69,004		39,817
Benefits and claim reserves assumed		50,673,773		53,519,377

	Years Ended
	December 31, 2023		December 31, 2022
Statements of Comprehensive Income (Loss)
Ceded premium	$	1,400,079	$	1,214,932
Assumed premium		4,543,477		4,400,339
Allowances on ceded premium		36,985		22,936
Allowances paid on assumed premium		514,036		515,429
Assumed benefits and policyholder reserve increases		5,234,519		5,566,574

The company currently reinsures business in excess of its retention with General Re Life Corporation, Reliance Standard Life Insurance Company, Unified Life Insurance Company, Hartford Life and Accident Company, and Optimum Re Insurance Company. The Company also currently assumes business under agreements with Unified Life Insurance Company and American Life and Security Corporation.