Investments (Tables)

9 Months Ended

Sep. 30, 2019



	For the Three-Months Ended September 30,
							Net Realized
	Proceeds		Gains		Losses		Gains (Losses)
2019
Fixed maturity securities	$	5,771,988	$	99,445	$	(10,183)	$	89,262
Common stocks		1,320,803		185,319		(133,100)		52,219
2018
Fixed maturity securities	$	3,512,293	$	45,130	$	(30,165)	$	14,965
Common stocks		533,388		61,330		(60,591)		739
Preferred stocks		66,000		—		(675)		(675)



	For the Nine-Months Ended September 30,
							Net Realized
	Proceeds		Gains		Losses		Gains
2019
Fixed maturity securities	$	19,522,461	$	264,737	$	(26,332)	$	238,405
Common stocks		5,998,276		960,420		(457,702)		502,718
2018
Fixed maturity securities	$	10,181,569	$	97,917	$	(56,280)	$	41,637
Common stocks		9,367,763		1,164,192		(122,833)		1,041,359
Preferred stocks		3,927,722		86,862		(82,629)		4,233

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



	Amortized Cost		Fair Value
Due in one year or less	$	3,706,721	$	3,724,171
Due after one year through five years		20,527,932		21,357,177
Due after five years through 10 years		14,516,310		15,749,391
Due after 10 years		13,833,858		15,217,981
Asset and mortgage backed securities without a specific due date		36,272,187		36,869,747
Total fixed maturity securities	$	88,857,008	$	92,918,467

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	$	1,349,993	$	1,347,742	$	761	$	(3,012)
MBS/ABS/CMBS		36,272,188		36,869,747		655,901		(58,342)
Corporate		40,936,728		43,509,784		2,576,595		(3,539)
Municipal		10,298,099		11,191,194		893,095		—
Total AFS securities	$	88,857,008	$	92,918,467	$	4,126,352	$	(64,893)



	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)

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.

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



	September 30, 2019
			12 Months
	< 12 Months		& Greater		Total
Fixed Maturity Securities:
U.S. Treasury
Fair value	$	—	$	1,246,820	$	1,246,820
Cost or amortized cost		—		1,249,832		1,249,832
Unrealized loss		—		(3,012)		(3,012)
MBS/ABS/CMBS
Fair value		4,940,313		4,706,813		9,647,126
Cost or amortized cost		4,947,399		4,758,069		9,705,468
Unrealized loss		(7,086)		(51,256)		(58,342)
Corporate
Fair value		1,005,982		—		1,005,982
Cost or amortized cost		1,009,521		—		1,009,521
Unrealized loss		(3,539)		—		(3,539)
Total debt securities available for sale
Fair value		5,946,295		5,953,633		11,899,928
Cost or amortized cost		5,956,920		6,007,901		11,964,821
Unrealized loss		(10,625)		(54,268)		(64,893)


	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)