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Condensed Consolidated Statements of Earnings and Comprehensive Earnings (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Net premiums earned $ 17,724,441 $ 14,079,395 $ 50,765,760 $ 38,860,915
Net investment income 1,027,631 823,912 2,896,901 2,409,036
Net realized investment gains 41,206 287,455 785,600 824,070
Net unrealized losses on equity securities (1,084,289) (212,136) (6,181,492) 1,392,999
Other income 85,402 58,590 333,059 196,624
Consolidated revenues 17,794,391 15,037,216 48,599,828 43,683,644
Losses and settlement expenses 10,386,524 8,814,522 34,390,330 25,281,508
Policy acquisition costs and other operating expenses 6,360,896 5,442,542 18,136,104 14,957,143
Interest expense on debt 46,409 62,379 149,661 174,095
General corporate expenses 189,708 171,105 563,626 531,222
Total expenses 16,983,537 14,490,548 53,239,721 40,943,968
Earnings before income taxes 810,854 546,668 (4,639,893) 2,739,676
Total income tax expense 181,114 122,405 (980,726) 590,806
Net earnings 629,740 424,263 (3,659,167) 2,148,870
Other comprehensive loss, net of tax (3,408,937) (680,975) (12,370,138) (1,826,510)
Comprehensive loss $ (2,779,197) $ (256,712) $ (16,029,305) $ 322,360
Basic net earnings per share (in dollars per share) $ 0.21 $ 0.14 $ (1.20) $ 0.71
Diluted net earnings per share (in dollars per share) $ 0.20 $ 0.14 $ (1.19) $ 0.70
Basic (in shares) 3,060,693 3,068,199 3,061,961 3,042,035
Diluted (in shares) 3,074,236 3,083,867 3,075,504 3,057,704
Equity Securities, FV-NI, Unrealized Gain (Loss), Total $ (1,084,289) $ (212,136) $ (6,181,492) $ 1,392,999