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Consolidated Statements of Earnings and Comprehensive Earnings - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Net premiums earned $ 75,717,108 $ 69,057,343
Net investment income 5,179,343 4,034,228
Net realized investment gains 672,857 874,470
Net unrealized gains (losses) on investments 1,135,905 (4,706,405)
Other income 236,914 420,202
Total revenue 82,942,127 69,679,838
Losses and settlement expenses 47,929,630 44,532,729
Policy acquisition costs and other operating expenses 28,521,973 24,896,120
Interest expense on debt 184,122 196,070
General corporate expenses 784,308 776,747
Total expenses 77,420,033 70,401,666
Loss before equity earnings of subsidiaries and income taxes 5,522,094 (721,828)
Income tax expense:    
Current 1,176,081 984,897
Deferred income tax 89,118 (1,125,063)
Total 1,265,199 (140,166)
Net loss before equity earnings of subsidiaries $ 4,256,895 $ (581,662)
Basic:    
Basic net earnings (loss) per share (in dollars per share) $ 1.44 $ (0.19)
Diluted:    
Diluted net earnings (loss) per share (in dollars per share) $ 1.43 $ (0.19)
Weighted average number of common shares outstanding:    
Basic (in shares) 2,946,892 3,032,155
Diluted (in shares) 2,966,679 3,032,155
Net earnings (loss) $ (4,256,895) $ 581,662
Other comprehensive earnings (loss), net of tax    
Unrealized holdings gains (losses) arising during the period, net of income tax expense (benefit) of $577,835 in 2023 and $(3,128,757) in 2022 2,173,761 (11,770,084)
Excluding losses included in net income, net of income tax (benefit) of $(12,340) in 2023 and $(2,270) in 2022 46,420 8,540
Total other comprehensive earnings (loss) 2,220,181 (11,761,544)
Comprehensive earnings (loss) $ 6,477,076 $ (12,343,206)