7. Property and Casualty Insurance Activity (Tables)

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements

Schedule of Earned Premiums

	Direct			Assumed			Ceded			Net
Six months ended June 30, 2012 (unaudited)
Premiums written	$	23,674,526		$	3,199		$	(14,480,602	)	$	9,197,123
Change in unearned premiums		(2,653,399	)		3,912			1,589,471			(1,060,016	)
Premiums earned	$	21,021,127		$	7,111		$	(12,891,131	)	$	8,137,107
Six months ended June 30, 2011 (unaudited)
Premiums written	$	20,120,159		$	2,880		$	(11,979,870	)	$	8,143,169
Change in unearned premiums		(2,914,468	)		1,652			1,654,595			(1,258,221	)
Premiums earned	$	17,205,691		$	4,532		$	(10,325,275	)	$	6,884,948
Three months ended June 30, 2012 (unaudited)
Premiums written	$	12,438,801		$	1,799		$	(7,623,640	)	$	4,816,960
Change in unearned premiums		(1,681,258	)		2,333			1,026,537			(652,388	)
Premiums earned	$	10,757,543		$	4,132		$	(6,597,103	)	$	4,164,572
Three months ended June 30, 2011 (unaudited)
Premiums written	$	10,587,013		$	2,646		$	(6,483,505	)	$	4,106,154
Change in unearned premiums		(1,677,592	)		(486	)		1,089,173			(588,905	)
Premiums earned	$	8,909,421		$	2,160		$	(5,394,332	)	$	3,517,249

Schedule of Unpaid Loss and Loss Adjustment Expenses

	Six months ended
	June 30,
	2012			2011
	(unaudited)
Balance at beginning of period	$	18,480,717		$	17,711,907
Less reinsurance recoverables		(10,001,060	)		(10,431,415	)
Net balance, beginning of period		8,479,657			7,280,492
Incurred related to:
Current year		4,359,416			4,141,042
Prior years		327,603			233,352
Total incurred		4,687,019			4,374,394
Paid related to:
Current year		933,939			1,322,676
Prior years		2,586,898			1,921,555
Total paid		3,520,837			3,244,231
Net balance at end of period		9,645,839			8,410,655
Add reinsurance recoverables		11,152,255			10,094,712
Balance at end of period	$	20,798,094		$	18,505,367

Schedule of Ceding Commission Revenue

	Three months ended				Six months ended
	June 30,				June 30,
	2012		2011		2012		2011
	(unaudited)				(unaudited)
Provisional ceding commissions earned	$	2,074,732	$	1,696,373	$	4,059,715	$	3,284,679
Contingent ceding commissions earned		836,126		1,031,494		1,754,799		1,755,763
	$	2,910,858	$	2,727,867	$	5,814,514	$	5,040,442