Investments (Tables)

3 Months Ended

Mar. 31, 2019



	For the Three-Months Ended March 31,
							Net realized
	Proceeds		Gains		Losses		gain
2019
Fixed maturity securities	$	5,778,893	$	25,589	$	(11,619)	$	13,970
Common stocks		553,413		63,577		(124,973)		(61,396)
Preferred stocks		—		—		—		—
2018
Fixed maturity securities	$	4,070,941	$	48,118	$	(13,031)	$	35,087
Common stocks		8,593,328		1,086,389		(24,254)		1,062,135
Preferred stocks		3,861,722		86,862		(81,954)		4,908

Summary of Amortized Cost and Fair Value of Securities by Contractual Maturity



	Amortized Cost		Fair Value
Due in one year or less	$	2,442,051	$	2,436,559
Due after one year through five years		23,845,589		24,306,392
Due after five years through 10 years		13,719,450		14,325,931
Due after 10 years		13,814,588		14,500,013
Asset and mortgage backed securities without a specific due date		34,511,438		34,358,560
Total fixed maturity securities	$	88,333,116	$	89,927,455

Schedule of Cost or Amortized Cost and Estimated Fair Values of Investments



	Cost or				Gross Unrealized
	Amortized Cost		Fair Value		Gains		Losses
2019
Fixed maturity securities:
U.S. Treasury	$	1,349,045	$	1,335,742	$	—	$	(13,303)
MBS/ABS/CMBS		34,511,437		34,358,559		188,396		(341,274)
Corporate		38,317,813		39,406,608		1,165,691		(76,896)
Municipal		14,154,821		14,826,546		676,010		(4,285)
Total AFS securities	$	88,333,116	$	89,927,455	$	2,030,097	$	(435,758)



	Cost or				Gross Unrealized
	Amortized Cost		Fair Value		Gains		Losses
2018
Fixed maturity securities:
U.S. Treasury	$	1,348,575	$	1,328,925	$	—	$	(19,650)
MBS/ABS/CMBS		34,372,133		33,799,024		33,955		(607,064)
Corporate		37,383,903		37,366,690		376,029		(393,242)
Municipal		16,148,295		16,486,520		398,569		(60,344)
Total fixed maturity securities		89,252,906		88,981,159		808,553		(1,080,300)
Equity securities:
Common stocks		13,572,713		11,843,223		406,812		(2,136,302)
Total equity securities1		13,572,713		11,843,223		406,812		(2,136,302)
Total AFS securities	$	102,825,619	$	100,824,382	$	1,215,365	$	(3,216,602)

Summary of Impairment Analysis and Value of Securities in an Unrealized Loss Position



	March 31, 2019
			12 Months
	< 12 Months		& Greater		Total
Fixed Maturity Securities:
U.S. Treasury
Fair value	$	—	$	1,335,742	$	1,335,742
Cost or amortized cost		—		1,349,045		1,349,045
Unrealized loss		—		(13,303)		(13,303)
MBS/ABS/CMBS
Fair value		7,646,768		13,672,461		21,319,229
Cost or amortized cost		7,698,242		13,962,261		21,660,503
Unrealized loss		(51,474)		(289,800)		(341,274)
Corporate
Fair value		252,781		9,358,068		9,610,849
Cost or amortized cost		252,910		9,434,835		9,687,745
Unrealized loss		(129)		(76,767)		(76,896)
Municipal
Fair value		—		272,453		272,453
Cost or amortized cost		—		276,738		276,738
Unrealized loss		—		(4,285)		(4,285)
Total debt securities available for sale
Fair value		7,899,549		24,638,724		32,538,273
Cost or amortized cost		7,951,152		25,022,879		32,974,031
Unrealized loss		(51,603)		(384,155)		(435,758)


	December 31, 2018
			12 Months
	< 12 Months		& Greater		Total
U.S. Treasury
Fair value	$	—	$	1,328,925	$	1,328,925
Cost or amortized cost		—		1,348,575		1,348,575
Unrealized loss		—		(19,650)		(19,650)
MBS/ABS/CMBS
Fair value		16,890,857		11,956,493		28,847,350
Cost or amortized cost		17,039,357		12,415,057		29,454,414
Unrealized loss		(148,500)		(458,564)		(607,064)
Corporate
Fair value		14,304,322		5,745,289		20,049,611
Cost or amortized cost		14,550,153		5,892,700		20,442,853
Unrealized loss		(245,831)		(147,411)		(393,242)
Municipal
Fair value		3,069,720		838,980		3,908,700
Cost or amortized cost		3,100,036		869,008		3,969,044
Unrealized loss		(30,316)		(30,028)		(60,344)
Subtotal, fixed income
Fair value		34,264,899		19,869,687		54,134,586
Cost or amortized cost		34,689,546		20,525,340		55,214,886
Unrealized loss		(424,647)		(655,653)		(1,080,300)
Common stock1
Fair value		8,187,764				8,187,764
Cost or amortized cost		10,324,066		—		10,324,066
Unrealized loss		(2,136,302)		—		(2,136,302)
Total
Fair value		42,452,663		19,869,687		62,322,350
Cost or amortized cost		45,013,612		20,525,340		65,538,952
Unrealized loss	$	(2,560,949)	$	(655,653)	$	(3,216,602)

1Effective January 1, 2019, the Company adopted ASU No. 2016-01. As a result, equity securities are no longer classified as available-for-sale. Prior periods have not been recast to conform to the current presentation.