Note 3 - Derivative Instruments

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Derivative Instruments and Hedging Activities Disclosure [Text Block]

Note 3. Derivative Instruments

Accounting for Derivative Instruments

See Note 1 for a detailed description of the accounting treatment for derivative instruments, including embedded derivatives.

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:

	December 31, 2024				December 31, 2023
	Derivative				Derivative				Balance
	Asset		Liability		Asset		Liability		Reported In
Derivatives:
Embedded derivatives:
Reinsurance contract allocated hedge	$	713,114		-	$	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):

	Year Ending		Year Ending			Balance
	December 31, 2024		December 31, 2023			Reported In
Derivatives:
Embedded derivatives:
Change in reinsurance contract allocated hedge	$	296,019	$	(65,978	)	Net investment gains (losses)