Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2024

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (Unaudited)

Quarterly Financial Data (Unaudited)

The following is a summary of unaudited quarterly results of operations for the years ended December 31, 2024 and 2023:

	2024
	March 31,		June 30,		September 30,		December 31,		Total
Net premiums earned	$	28,819,902	$	30,303,612	$	33,407,194	$	35,967,212	$	128,497,920
Ceding commission revenue	4,567,111		4,561,961		4,741,676		4,967,198		18,837,946
Net investment income	1,502,860		1,764,596		1,649,673		1,906,461		6,823,590
Net gains (losses) on investments	726,391		(233,606)		826,522		(904,756)		414,551
Total revenues	35,765,177		36,502,115		40,771,728		42,103,083		155,142,103
Loss and loss adjustment expenses	17,859,587		14,238,308		13,027,597		17,509,224		62,634,716
Commission expense and
other underwriting expenses	13,732,417		14,133,005		15,898,844		15,857,794		59,622,060
Net income	1,426,679		4,514,937		6,978,145		5,438,675		18,358,436
Basic earnings per share	$	0.13	$	0.41	$	0.61	$	0.44	$	1.60
Diluted earnings per share	$	0.12	$	0.37	$	0.55	$	0.40	$	1.48

	2023
	March 31,		June 30,		September 30,		December 31,		Total
Net premiums earned	$	28,254,953	$	29,508,196	$	27,938,318	$	28,682,796	$	114,384,263
Ceding commission revenue	5,445,407		5,412,210		5,536,327		4,659,550		21,053,494
Net investment income	1,541,492		1,451,356		1,444,360		1,571,474		6,008,682
Net gains (losses) on investments	1,224,871		197,142		(824,370)		1,536,911		2,134,554
Total revenues	36,627,763		36,719,988		34,236,671		36,606,292		144,190,714
Loss and loss adjustment expenses	25,039,410		19,580,702		21,932,453		16,296,645		82,849,210
Commission expense and
other underwriting expenses	15,411,381		15,154,820		14,529,055		14,179,335		59,274,591
Net (loss) income	(5,054,710)		(522,017)		(3,537,571)		2,945,952		(6,168,346)
Basic (loss) earnings per share	$	(0.47)	$	(0.05)	$	(0.33)	$	0.27	$	(0.57)
Diluted (loss) earnings per share	$	(0.47)	$	(0.05)	$	(0.33)	$	0.26	$	(0.57)

Due to changes in number of shares outstanding from quarter to quarter, the total earnings per share of the four quarters may not necessarily equal the total earnings per share for the year.