Investments (Tables)

3 Months Ended

Mar. 31, 2020

Investments [Abstract]

Summary of Recognized Impairments

	For the Three-Months Ended March 31,
							Net Realized
	Proceeds		Gains		Losses		Gains (Losses)
2020
Fixed maturity securities	$	3,802,593	$	233,693	$	(926)	$	232,767
Common stocks		524,818		47,126		(173,499)		(126,373)
Preferred stocks		91,838		—		(10,762)		(10,762)
2019
Fixed maturity securities	$	5,778,893	$	25,589	$	(11,619)	$	13,970
Common stocks		553,413		63,577		(124,973)		(61,396)

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

	Amortized Cost		Fair Value
Due in one year or less	$	3,228,198	$	3,242,332
Due after one year through five years		18,003,293		18,394,229
Due after five years through 10 years		15,530,315		15,833,388
Due after 10 years		19,380,384		20,331,864
Asset and mortgage backed securities without a specific due date		33,479,339		33,387,560
Redeemable preferred stocks		215,805		221,438
Total fixed maturity securities	$	89,837,334	$	91,410,811

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

	Cost or				Gross Unrealized
	Amortized Cost		Fair Value		Gains		Losses
2020
Fixed maturity securities:
U.S. Treasury	$	1,352,761	$	1,392,031	$	39,270	$	—
MBS/ABS/CMBS		33,479,339		33,387,560		585,105		(676,884)
Corporate		38,473,713		39,357,281		1,516,966		(633,398)
Municipal		16,315,716		17,052,501		827,188		(90,403)
Redeemable preferred stock		215,805		221,438		6,270		(637)
Total fixed maturity securities	$	89,837,334	$	91,410,811	$	2,974,799	$	(1,401,322)

					Gross Unrealized
	Amortized Cost		Fair Value		Gains		Losses
2019
Fixed maturity securities:
U.S. Treasury	$	800,462	$	800,219	$	684	$	(927)
MBS/ABS/CMBS		33,802,911		34,290,995		540,743		(52,659)
Corporate		39,442,202		41,915,103		2,482,378		(9,477)
Municipal		14,302,840		15,081,255		808,081		(29,666)
Total fixed maturity securities	$	88,348,415	$	92,087,572	$	3,831,886	$	(92,729)

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

	March 31, 2020						December 31, 2019
			12 Months						12 Months
	< 12 Months		& Greater		Total		< 12 Months		& Greater		Total
Fixed Maturity Securities:
U.S. Treasury
Fair value	$	—	$	—	$	—	$	—	$	699,391	$	699,391
Amortized cost		—		—		—		—		700,318		700,318
Unrealized loss		—		—		—		—		(927)		(927)
MBS/ABS/CMBS
Fair value		12,453,701		1,894,665		14,348,366		6,398,581		5,056,732		11,455,313
Amortized cost		12,969,112		2,056,138		15,025,250		6,420,488		5,087,484		11,507,972
Unrealized loss		(515,411)		(161,473)		(676,884)		(21,907)		(30,752)		(52,659)
Corporate
Fair value		6,799,881		—		6,799,881		1,396,706		—		1,396,706
Amortized cost		7,433,279		—		7,433,279		1,406,183		—		1,406,183
Unrealized loss		(633,398)		—		(633,398)		(9,477)		—		(9,477)
Municipal
Fair value		3,446,768		—		3,446,768		1,969,468		—		1,969,468
Amortized cost		3,537,171		—		3,537,171		1,999,134		—		1,999,134
Unrealized loss		(90,403)		—		(90,403)		(29,666)		—		(29,666)
Subtotal, fixed income
Fair value		22,700,350		1,894,665		24,595,015		9,764,755		5,756,123		15,520,878
Amortized cost		23,939,562		2,056,138		25,995,700		9,825,805		5,787,802		15,613,607
Unrealized loss		(1,239,212)	$	(161,473)	$	(1,400,685)	$	(61,050)	$	(31,679)	$	(92,729)
Redeemable preferred stock
Fair value		71,588		—		71,588		—		—		—
Cost		72,225		—		72,225		—		—		—
Unrealized loss		(637)		—		(637)		—		—		—
Total
Fair value		22,771,938		1,894,665		24,666,603		9,764,755		5,756,123		15,520,878
Amortized cost		24,011,787		2,056,138		26,067,925		9,825,805		5,787,802		15,613,607
Unrealized loss	$	(1,239,849)	$	(161,473)	$	(1,401,322)	$	(61,050)	$	(31,679)	$	(92,729)