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Condensed Consolidated Statements of Earnings and Comprehensive Earnings (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Net premiums earned $ 21,711,407 $ 19,233,517 $ 62,331,966 $ 55,528,867
Net investment income 1,556,776 1,342,258 4,536,992 3,798,432
Net realized investment gains 437,258 199,928 584,925 268,375
Net unrealized gains (losses) on investments 613,594 (1,062,332) 2,134,454 279,100
Other 56,380 51,000 46,283 160,714
Consolidated revenues 24,375,415 19,764,371 69,634,620 60,035,488
Losses and settlement expenses 14,144,203 13,436,464 41,034,199 36,698,631
Policy acquisition costs and other operating expenses 7,301,724 7,029,218 23,046,544 20,823,605
Interest expense on debt 46,409 46,409 138,218 137,713
General corporate expenses 264,274 220,093 870,968 616,304
Total expenses 21,756,610 20,732,184 65,089,929 58,276,253
Earnings (loss) before income taxes 2,618,805 (967,813) 4,544,691 1,759,235
Total income tax expense (benefit) 566,613 (198,850) 985,170 363,164
Net earnings (loss) 2,052,192 (768,963) 3,559,521 1,396,071
Other comprehensive earnings (loss), net of tax 3,234,962 (3,025,254) 2,114,818 (2,193,230)
Comprehensive earnings (loss) $ 5,287,154 $ (3,794,217) $ 5,674,339 $ (797,159)
Basic:        
Basic net earnings (loss) per share (in dollars per share) $ 0.69 $ (0.26) $ 1.2 $ 0.47
Diluted:        
Diluted net earnings (loss) per share (in dollars per share) $ 0.69 $ (0.26) $ 1.2 $ 0.47
Weighted average number of common shares outstanding:        
Basic (in shares) 2,964,743 2,945,199 2,954,852 2,945,686
Diluted (in shares) 2,986,401 2,968,808 2,976,510 2,969,295
Net premiums earned $ 21,711,407 $ 19,233,517 $ 62,331,966 $ 55,528,867
Net investment income 1,556,776 1,342,258 4,536,992 3,798,432
Net realized investment gains 437,258 199,928 584,925 268,375
Net unrealized gains (losses) on investments 613,594 (1,062,332) 2,134,454 279,100
Other 56,380 51,000 46,283 160,714
Consolidated revenues 24,375,415 19,764,371 69,634,620 60,035,488
Losses and settlement expenses 14,144,203 13,436,464 41,034,199 36,698,631
Policy acquisition costs and other operating expenses 7,301,724 7,029,218 23,046,544 20,823,605
Interest expense on debt 46,409 46,409 138,218 137,713
General corporate expenses 264,274 220,093 870,968 616,304
Total expenses 21,756,610 20,732,184 65,089,929 58,276,253
Earnings (loss) before income taxes 2,618,805 (967,813) 4,544,691 1,759,235
Total income tax expense (benefit) 566,613 (198,850) 985,170 363,164
Net earnings (loss) 2,052,192 (768,963) 3,559,521 1,396,071
Other comprehensive earnings (loss), net of tax 3,234,962 (3,025,254) 2,114,818 (2,193,230)
Comprehensive earnings (loss) $ 5,287,154 $ (3,794,217) $ 5,674,339 $ (797,159)