Note 3 - Derivative Instruments

6 Months Ended

Jun. 30, 2024

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 consist of a reinsurance contract allocated hedge.

Summary of Derivative Positions

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

	June 30, 2024				December 31, 2023
	Derivative				Derivative				Balance
	Asset		Liability		Asset		Liability		Reported In
	(unaudited)
Derivatives:
Embedded derivatives:
Reinsurance contract allocated hedge	$	530,129		-	$	673,681	$	-	Reinsurance related assets

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

	Six Months Ending		Six Months Ending		Balance
	June 30, 2024		June 30, 2023		Reported In
	(unaudited)		(unaudited)
Derivatives:
Embedded derivatives:
Change in reinsurance contract allocated hedge	$	96,215	$	497,153	Net investment gains (losses)