XML 15 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Earnings and Comprehensive Earnings - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Condensed Consolidated Statements of Earnings and Comprehensive Earnings [Abstract]        
Net premiums earned $ 10,710,758 $ 10,555,466 $ 21,548,864 $ 20,846,228
Net investment income 688,963 422,068 1,161,287 769,894
Net realized investment (losses) gains (3) 13,970 444,778 138,218
Other-than-temporary impairment losses (57,316)   (57,316)  
Other income 64,722 17,536 148,980 75,861
Consolidated revenues 11,407,124 11,009,040 23,246,593 21,830,201
Losses and settlenment expenses 6,864,258 6,177,420 13,463,642 12,556,916
Policy acquisition costs and other operating expenses 4,720,298 4,011,294 8,454,950 7,543,274
Interest expense on debt 57,229 50,275 109,539 91,622
General corporate expenses 128,905 106,582 268,120 199,471
Total expenses 11,770,690 10,345,571 22,296,251 20,391,283
(Loss) earnings before income taxes (363,566) 663,469 950,342 1,438,918
Income tax expense:        
Deferred income tax     190,257 71,355
Total income tax (benefit) expense (128,443) 242,897 336,421 548,350
Net (loss) earnings (235,123) 420,572 613,921 890,568
Other comprehensive earnings, net of tax 542,427 810,414 596,908 1,819,432
Comprehensive earnings $ 307,304 $ 1,230,986 $ 1,210,829 $ 2,710,000
Basic:        
Basic net (loss) earnings per share $ (0.07) [1] $ 0.13 [1] $ 0.19 [2] $ 0.28 [2]
Diluted:        
Diluted net (loss) earnings per share $ (0.07) [1] $ 0.13 [1] $ 0.19 [2] $ 0.28 [2]
Weighted average number of common shares outstanding:        
Basic 3,153,876 [3] 3,150,000 [3] 3,151,946.00 [4] 3,150,000.00 [4]
Diluted 3,153,876 [3] 3,150,000 [3] 3,151,946.00 [4] 3,150,000.00 [4]
[1] The unaudited pro forma earnings per share for the three months ended June 30, 2016 is provided as a basis for comparison of current period earnings.
[2] The unaudited pro forma earnings per share for the six months ended June 30, 2016 is provided as a basis for comparison of current period earnings.
[3] Weighted average number of common shares outstanding for the three months ended June 30, 2016 is based off of the resulting shares from the initial public offering that was completed in March 2017 and are used to calculate the pro forma earnings per share for the three months ended June 30, 2016.
[4] Weighted average number of common shares outstanding for the six months ended June 30, 2016 is based off of the resulting shares from the initial public offering that was completed in March 2017 and are used to calculate the pro forma earnings per share for the six months ended June 30, 2016.