XML 20 R2.htm IDEA: XBRL DOCUMENT v3.24.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Available for sale fixed maturity securities (amortized cost: $78,653,792 and $70,615,724 as of December 31, 2023 and December 31, 2022, respectively) $ 74,509,520 $ 65,316,077
Equity securities, at fair value 3,585,885 7,395,044
Limited partnership interests 389,827 0
Mortgage loans on real estate (net of allowance for credit losses of $21,644 as of December 31, 2023) 19,617,253 23,790,073
Other invested assets 2,239,683 1,760,777
Policy loans 26,132 34,980
Real estate, net of depreciation 1,686,668 1,373,716
Total investments 102,054,968 99,670,667
Cash and cash equivalents 8,982,138 4,091,507
Investment income due and accrued 1,878,620 2,086,365
Reinsurance related assets 1,039,274 125,549
Deferred acquisition costs, net 4,751,497 5,629,002
Value of business acquired, net 2,425,973 2,518,393
Property, equipment and software, net 138,256 132,475
Goodwill 277,542 277,542
Federal and state income tax receivable 146,831 144,295
Deferred tax asset, net of valuation allowance 3,888,907 3,294,522
Other assets 500,630 472,275
Total assets 126,084,636 118,442,592
Liabilities:    
Deposit-type contracts 78,063,888 79,035,350
Policyholder benefit reserves 34,233,185 29,411,984
Dividend accumulation 114,842 121,687
Advance premiums 151,711 168,782
Total policy liabilities 112,563,626 108,737,803
Accounts payable and accrued expenses 2,053,363 593,100
Federal Home Loan Bank advance (1,000,000) (1,000,000)
Other liabilities 136,570 42,295
Total liabilities 115,753,559 110,373,198
Shareholders' Equity:    
Common stock, $0.10 par value. Authorized 20,000,000 shares; issued and outstanding 7,748,922 and 7,746,922 shares as of December 31, 2023 and December 31, 2022 774,893 774,693
Additional paid-in capital 22,964,490 22,955,458
Accumulated deficit (10,491,934) (11,819,637)
Accumulated other comprehensive loss (2,916,372) (3,841,120)
Total shareholders' equity 10,331,077 8,069,394
Total liabilities and shareholders' equity $ 126,084,636 $ 118,442,592