Note 3 - Derivative Instruments

9 Months Ended

Sep. 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:

	September 30, 2024				December 31, 2023
	Derivative				Derivative				Balance
	Asset		Liability		Asset		Liability		Reported In
	(unaudited)
Derivatives:
Embedded derivatives:
Reinsurance contract allocated hedge	$	151,249		-	$	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) for the nine months ended September 30, 2024 and 2023:

	Nine Months Ending			Nine Months Ending		Balance
	September 30, 2024			September 30, 2023		Reported In
	(unaudited)			(unaudited)
Derivatives:
Embedded derivatives:
Change in reinsurance contract allocated hedge	$	(265,846	)	$	425,122	Net investment gains (losses)

The following table shows the change in the fair value of the derivative financial instruments in the consolidated statements of comprehensive income (loss) for the three months ended September 30, 2024 and 2023:

	Three Months Ending			Three Months Ending			Balance
	September 30, 2024			September 30, 2023			Reported In
Derivatives:	(unaudited)			(unaudited)
Embedded derivatives:
Change in reinsurance contract allocated hedge	$	(362,061	)	$	(72,031	)	Net investment gains (losses)