Fair Value Measurements

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements

The following table presents information about the Company’s investments that are measured at fair value on a recurring basis at March 31, 2026 and December 31, 2025 indicating the level of the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

	March 31, 2026
	Level 1		Level 2		Level 3		Total
Fixed-maturity securities available-for-sale
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	996,250	$	-	$	-	$	996,250
Political subdivisions of States, Territories and Possessions	-		21,704,557		-		21,704,557
Corporate and other bonds industrial and miscellaneous	135,447,416		-		-		135,447,416
Residential mortgage and other asset backed securities	-		135,652,203		-		135,652,203
Total fixed maturities	136,443,666		157,356,760		-		293,800,426
Equity securities	9,839,800		-		-		9,839,800
Total investments, at fair value	$	146,283,466	$	157,356,760	$	-	$	303,640,226

	December 31, 2025
	Level 1		Level 2		Level 3		Total
Fixed-maturity securities available-for-sale
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	1,007,190	$	-	$	-	$	1,007,190
Political subdivisions of States, Territories and Possessions	-		21,773,433		-		21,773,433
Corporate and other bonds industrial and miscellaneous	129,866,682		-		-		129,866,682
Residential mortgage and other asset backed securities	-		136,389,885		-		136,389,885
Total fixed maturities	130,873,872		158,163,318		-		289,037,190
Equity securities	10,056,595		-		-		10,056,595
Total investments, at fair value	$	140,930,467	$	158,163,318	$	-	$	299,093,785

The following table sets forth the Company’s investment in a hedge fund measured at Net Asset Value (“NAV”) per share as of March 31, 2026 and December 31, 2025. The Company measures this investment at fair value on a recurring basis. Fair value using NAV per share is as follows as of the dates indicated:

Category	March 31, 2026		December 31, 2025
Other Investments
Hedge fund	$	3,756,749	$	4,552,378

The hedge fund investment is generally redeemable with at least 45 days prior written notice. The hedge fund investment is accounted for as a limited partnership by the Company. Income is earned based upon the Company’s allocated share of the partnership's changes in unrealized gains and losses to its partners, which are recorded in the condensed consolidated statements of operations and comprehensive (loss) income within net gains on investments.