Schedule II - Condensed Financial Information of Registrant (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Condensed Balance Sheet [Table Text Block]

	As of			As of
	December 31, 2022			December 31, 2021
Assets
Investment in subsidiaries	$	58,973,935		$	74,209,041
Fixed maturity securities		3,108,898			3,223,307
Common Stocks		1,303,224			1,410,345
Other invested assets		213,230			218,403
Cash and cash equivalents		348,692			573,715
Due from subsidiaries		1,111,804			64,846
Accrued investment income		9,375			13,746
Income taxes - current		766,927			454,538
Goodwill and other intangibles		86,042			100,000
Fixed assets		15,161			49,561
Other assets		159,426			210,013
Total assets	$	66,096,714		$	80,527,514
Liabilities and Shareholders' Equity
Liabilities:
Debt	$	5,463,608		$	5,515,098
Accrued expenses		112,722			116,894
Income taxes - deferred		24,372			56,016
Other liabilities		55,081			135,592
Total liabilities		5,655,783			5,823,601
Equity:
Common stock1		35,000			35,000
Treasury stock, at cost2		(5,463,535	)		(3,155,399	)
Additional paid-in capital		33,119,125			32,965,136
Accumulated other comprehensive earnings, net of tax		(8,841,517	)		2,920,027
Retained earnings		43,701,233			44,282,895
Less: Unearned Employee Stock Ownership Plan shares at cost3		(2,109,375	)		(2,343,745	)
Total equity		60,440,931			74,703,914
Total liabilities and equity	$	66,096,714		$	80,527,514

Condensed Income Statement [Table Text Block]

	Year Ended			Year Ended
	December 31, 2022			December 31, 2021
Net investment income	$	19,504		$	139,907
Net realized investment gains		52,564			39,629
Net unrealized (losses) gains on equity securities		(189,059	)		234,537
Other income		197			6,717
Total revenue		(116,794	)		420,790
Policy acquisition costs and other operating expenses		1,732,482			1,676,944
Interest expense on debt		40,281			129,854
General corporate expenses		—			7,767
Total expenses		1,772,763			1,814,566
Loss before equity earnings of subsidiaries and income taxes		(1,889,557	)		(1,393,776	)
Total income tax benefit		(299,543	)		(54,646	)
Net loss before equity earnings of subsidiaries		(1,590,014	)		(1,339,130	)
Equity earnings in subsidiaries		1,008,352			5,481,909
Net (loss) earnings	$	(581,662	)	$	4,142,779
Other comprehensive loss, net of tax		(209,209	)		(78,861	)
Equity in other comprehensive loss of subsidiaries		(11,552,335	)		(2,521,202	)
Comprehensive (loss) earnings	$	(12,343,206	)	$	1,542,715

Condensed Cash Flow Statement [Table Text Block]

	Year Ended			Year Ended
	December 31, 2022			December 31, 2021
Cash flows from operating activities:
Net (loss) earnings	$	(581,662	)	$	4,142,779
Adjustments to reconcile net (loss) earnings to net cash (used in) provided by operating activities
Net realized and unrealized losses (gains) on equity securities		136,495			(274,166	)
Depreciation		24,065			51,235
Deferred income tax		23,969			3,316
Equity in undistributed income of subsidiaries		(1,008,352	)		(5,481,909	)
Amortization of bond premium and discount		761			—
Stock-based compensation expense		388,359			419,070
Change in:
Intercompany notes receivable		4,473			(1,380,000	)
Due from subsidiaries		(1,046,958	)		16,321
Accrued investment income		4,371			255
Accrued expenses		(4,173	)		72,719
Current federal income tax		(312,389	)		(67,131	)
Other		(29,924	)		(476,240	)
Net cash used in operating activities		(2,400,965	)		(2,973,750	)
Cash flows from investing activities:
Contributions from subsidiaries		4,691,823			6,605,654
Purchases of:
Fixed maturity securities		(724,994	)		(312,114	)
Common stocks		(202,897	)		(216,473	)
Proceeds from sales, maturities and calls of:
Fixed maturity securities		573,820			220,950
Common stocks		173,523			195,840
Other invested assets		—			16,403
Property and equipment		24,293			121,249
Net cash provided by investing activities		4,535,568			6,631,510
Cash flows from financing activities:
Repayments of borrowed funds		(51,490	)		(3,544,668	)
Purchase of treasury stock		(2,308,136	)		(1,561	)
Net cash used in financing activities		(2,359,626	)		(3,546,230	)
Net (decrease) increase in cash and cash equivalents		(225,023	)		111,530
Cash and cash equivalents at beginning of year		573,715			462,185
Cash and cash equivalents at end of period	$	348,692		$	573,715
Supplemental information:
Federal income tax paid	$	—		$	—
Interest paid		38,531			128,104