Note 2 - Investments (Tables)

6 Months Ended

Jun. 30, 2024

Notes Tables

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

	June 30, 2024
	Cost or		Allowance for			Gross		Gross
	Amortized		Credit			Unrealized		Unrealized
	Cost		Losses			Gains		Losses			Fair Value
Available for sale:	(unaudited)
Fixed maturities:
US Treasury securities	$	797,297	$	-		$	-	$	(86,674	)	$	710,623
Corporate bonds		20,249,652		(116,563	)		60,319		(2,975,117	)		17,218,291
Municipal bonds		5,479,432		-			-		(632,476	)		4,846,956
Redeemable preferred stock		3,290,872		-			190		(177,163	)		3,113,899
Term loans		17,532,991		-			150,906		(290,534	)		17,393,363
Mortgage backed and asset backed securities		33,320,800		-			671,450		(1,003,732	)		32,988,518
Total available for sale	$	80,671,044	$	(116,563	)	$	882,865	$	(5,165,696	)	$	76,271,650

	December 31, 2023
	Cost or		Allowance for		Gross		Gross
	Amortized		Credit		Unrealized		Unrealized
	Cost		Losses		Gains		Losses			Fair Value
Available for sale:
Fixed maturities:
US Treasury securities	$	790,976	$	-	$	-	$	(66,308	)	$	724,668
Corporate bonds		20,234,444		-		95,085		(2,516,167	)		17,813,362
Municipal bonds		6,207,596		-		4,044		(575,547	)		5,636,093
Redeemable preferred stock		3,622,572		-		1,699		(318,702	)		3,305,569
Term loans		17,177,179		-		162,011		(286,770	)		17,052,420
Mortgage backed and asset backed securities		30,621,025		-		520,599		(1,164,216	)		29,977,408
Total available for sale	$	78,653,792	$	-	$	783,438	$	(4,927,710	)	$	74,509,520

Investments Classified by Contractual Maturity Date [Table Text Block]

	As of June 30, 2024				As of December 31, 2023
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
	(unaudited)
Amounts maturing in:
One year or less	$	323,268	$	323,268	$	152,840	$	147,835
After one year through five years		16,561,985		16,521,520		16,397,124		16,461,777
After five years through ten years		6,024,798		5,808,614		6,371,607		6,112,389
More than 10 years		21,149,321		17,515,831		21,488,624		18,504,542
Redeemable preferred stocks		3,290,872		3,113,899		3,622,572		3,305,569
Mortgage backed and asset backed securities		33,320,800		32,988,518		30,621,025		29,977,408
Total amortized cost and fair value	$	80,671,044	$	76,271,650	$	78,653,792	$	74,509,520

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

	Six Months Ended June 30,
	(unaudited)
	2024			2023
Gross gains	$	22,070		$	188,777
Gross losses		(67,024	)		(267,660	)
Realized gains (losses)	$	(44,954	)	$	(78,883	)
Fixed maturity securities		(116,563	)		-
Mortgage loans on real estate		(9,137	)		115,762
(Increase) Decrease in allowance for credit losses	$	(125,700	)	$	115,762

	Three Months Ended June 30,
	(unaudited)
	2024			2023
Gross gains	$	16,006		$	-
Gross losses		(25,062	)		(263,968	)
Net security losses	$	(9,056	)	$	(263,968	)
Fixed maturity securities		(116,563	)		-
Mortgage loans on real estate		(9,137	)		102,537
Decrease in allowance for credit losses	$	(125,700	)	$	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
June 30, 2024
	(unaudited)
Available for sale:
Fixed maturities:
US Treasury securities	$	-	$	-		$	710,623	$	(86,674	)	$	710,623	$	(86,674	)
Corporate bonds		763,733		(9,373	)		14,316,660		(2,965,744	)		15,080,393		(2,975,117	)
Municipal bonds		789,733		(22,888	)		4,057,223		(609,588	)		4,846,956		(632,476	)
Redeemable preferred stock		-		-			2,989,680		(177,163	)		2,989,680		(177,163	)
Term loans		155,150		(2,076	)		7,561,890		(288,458	)		7,717,040		(290,534	)
Mortgage backed and asset backed securities		6,828,387		(243,281	)		4,963,571		(760,451	)		11,791,958		(1,003,732	)
Total fixed maturities	$	8,537,003	$	(277,618	)	$	34,599,647	$	(4,888,078	)	$	43,136,650	$	(5,165,696	)

	Less than 12 months					Greater than 12 months					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Loss			Value		Loss			Value		Loss
December 31, 2023
Available for sale:
Fixed maturities:
US Treasury securities	$	724,668	$	(66,308	)	$	-	$	-		$	724,668	$	(66,308	)
Corporate bonds		262,673		(863	)		15,653,914		(2,515,304	)		15,916,587		(2,516,167	)
Municipal bonds		523,744		(4,792	)		4,825,568		(570,755	)		5,349,312		(575,547	)
Redeemable preferred stock		-		-			3,305,569		(318,702	)		3,305,569		(318,702	)
Term loans		3,739,859		(174,955	)		3,534,621		(111,815	)		7,274,480		(286,770	)
Mortgage backed and asset backed securities		9,549,515		(219,946	)		6,228,220		(944,270	)		15,777,735		(1,164,216	)
Total fixed maturities	$	14,800,459	$	(466,864	)	$	33,547,892	$	(4,460,846	)	$	48,348,351	$	(4,927,710	)

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

	June 30, 2024			December 31, 2023
	(unaudited)
Commercial mortgage loans by property type
Condominium	$	-		$	377,621
Multi-property		4,796,721			8,923,604
Multi-family		4,191,879			2,855,008
Industrial		1,000,000			1,000,000
Retail/Office		11,608,338			6,482,664
Total commercial mortgages	$	21,596,938		$	19,638,897
Allowance for credit losses		(30,781	)		(21,644	)
Carrying value	$	21,566,157		$	19,617,253

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

	June 30, 2024			December 31, 2023
	(unaudited)
Loan to value ratio
Over 70 to 80%	$	1,648,463		$	7,123,604
Over 60 to 70%		3,800,000			3,137,953
Over 50 to 60%		5,321,270			2,322,273
Over 40 to 50%		2,324,083			2,327,436
Over 30 to 40%		5,584,780			377,621
Over 20 to 30%		-			2,689,619
Over 10 to 20%		2,495,815			1,660,391
Less than 10%		422,527			-
Total	$	21,596,938		$	19,638,897
Allowance for credit losses		(30,781	)		(21,644	)
Carrying value	$	21,566,157		$	19,617,253

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

	June 30, 2024			December 31, 2023
	(unaudited)
Maturity Date
One year or less	$	10,390,990		$	14,599,568
After one year through five years		11,205,948			5,039,329
Total	$	21,596,938		$	19,638,897
Allowance for credit losses		(30,781	)		(21,644	)
Carrying value	$	21,566,157		$	19,617,253

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

	Six Months Ended June 30, 2024
	(unaudited)
	Specific Allowance		General Allowance
Beginning allowance balance	$	-	$	21,644
Cumulative adjustment for changes in accounting principals		-		-
Charge-offs		-		-
Recoveries		-		-
Change in provision for credit losses		-		9,137
Ending Allowance	$	-	$	30,781

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

	Six Months Ended June 30, 2024
	(unaudited)
Beginning allowance balance	$	-
Cumulative adjustment for changes in accounting principals		-
Charge-offs		-
Recoveries		-
Change in provision for credit losses		116,563
Ending Allowance	$	116,563

Investment Income [Table Text Block]

	Six Months Ended June 30,
	2024			2023
	(unaudited)
Fixed maturities	$	2,888,149		$	2,895,537
Mortgages		906,519			1,003,013
Equity securities		164,145			394,800
Other invested assets		58,814			100,865
Cash and cash equivalents		194,575			35,960
		4,212,202			4,430,175
Less investment expenses		(216,722	)		(1,140,681	)
	$	3,995,480		$	3,289,494

	Three Months Ended June 30,
	2024			2023
	(unaudited)
Fixed maturities	$	1,578,420		$	1,856,114
Mortgages		499,970		$	493,991
Equity securities		80,980			184,430
Funds withheld		-			-
Other invested assets		(1,241	)		54,925
Cash and cash equivalents		105,603			21,939
		2,263,731			2,611,399
Less investment expenses		61,792			(827,515	)
	$	2,325,523		$	1,783,884

Gain (Loss) on Securities [Table Text Block]

	Six Months Ended June 30,
	2024			2023
	(unaudited)
Realized gains (losses) on sales of investments	$	(44,954	)	$	(78,883	)
Change in allowance for credit losses recognized in earnings		(125,700	)		115,762
Unrealized net gains (losses) recognized in earnings		587,099			356,444
Change in value of embedded derivative		96,215			497,153
	$	512,660		$	890,476

	Three Months Ended June 30,
	2024			2023
	(unaudited)
Realized gains (losses) on sales of investments	$	(9,056	)	$	(263,968	)
Change in allowance for credit losses recognized in earnings		(125,700	)		102,537
Unrealized net gains (losses) recognized in earnings		490,778			110,318
Change in value of embedded derivative		16,286			594,487
	$	372,308		$	543,374