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3. Investments (Tables)

12 Months Ended

Dec. 31, 2012

Text Block [Abstract]

Schedule of Availalbe for Sale Securities

The amortized cost and fair value of investments in available for sale fixed-maturity securities and equities as of December 31, 2012 and 2011 are summarized as follows:

		December 31, 2012
																						Net
		Cost or				Gross				Gross Unrealized Losses												Unrealized
		Amortized				Unrealized				Less than 12				More than 12				Fair				Gains/
Category		Cost				Gains				Months				Months				Value				(Losses)

Fixed-Maturity Securities:
Political subdivisions of States,
Territories and Possessions		$	5,219,092			$	257,298			$	(1,574	)		$	-			$	5,474,816			$	255,724

Corporate and other bonds
Industrial and miscellaneous			19,628,005				1,123,392				(43,553	)			(722	)			20,707,122				1,079,117
Total fixed-maturity securities			24,847,097				1,380,690				(45,127	)			(722	)			26,181,938				1,334,841

Equity Securities:
Preferred stocks			1,475,965				19,512				(11,130	)			-				1,484,347				8,382
Common stocks			3,598,012				353,782				(145,899	)			-				3,805,895				207,883
Total equity securities			5,073,977				373,294				(157,029	)			-				5,290,242				216,265

Total		$	29,921,074			$	1,753,984			$	(202,156	)		$	(722	)		$	31,472,180			$	1,551,106

		December 31, 2011
																						Net
		Cost or				Gross				Gross Unrealized Losses												Unrealized
		Amortized				Unrealized				Less than 12				More than 12				Fair				Gains/
Category		Cost				Gains				Months				Months				Value				(Losses)

Fixed-Maturity Securities:
U.S. Treasury securities and
obligations of U.S. government
corporations and agencies		$	499,832			$	50,356			$	-			$	-			$	550,188			$	50,356

Political subdivisions of States,
Territories and Possessions			5,868,743				301,559				-				-				6,170,302				301,559

Corporate and other bonds
Industrial and miscellaneous			15,846,616				338,284				(228,792	)			(107,666	)			15,848,442				1,826
Total fixed-maturity securities			22,215,191				690,199				(228,792	)			(107,666	)			22,568,932				353,741

Equity Securities:
Preferred stocks			1,428,435				36,762				(76,969	)			(4,893	)			1,383,335				(45,100	)
Common stocks			2,429,306				274,538				(21,969	)			-				2,681,875				252,569
Total equity securities			3,857,741				311,300				(98,938	)			(4,893	)			4,065,210				207,469

Total		$	26,072,932			$	1,001,499			$	(327,730	)		$	(112,559	)		$	26,634,142			$	561,210

Schedule of amortized cost and fair value

A summary of the amortized cost and fair value of the Company’s investments in available for sale fixed-maturity securities by contractual maturity as of December 31, 2012 and 2011 is shown below:

		December 31, 2012								December 31, 2011
		Amortized								Amortized
Remaining Time to Maturity		Cost				Fair Value				Cost				Fair Value

Less than one year		$	546,952			$	560,162			$	1,063,493			$	1,079,924
One to five years			9,031,248				9,569,943				6,899,892				7,045,774
Five to ten years			12,605,798				13,306,033				12,547,046				12,680,441
More than 10 years			2,663,099				2,745,800				1,704,760				1,762,793
Total		$	24,847,097			$	26,181,938			$	22,215,191			$	22,568,932

Schedule of Held to Maturity Securities

The amortized cost and fair value of investments in held to maturity fixed-maturity securities as of December 31, 2012 and 2011 are summarized as follows:

December 31, 2012

Cost or

Gross

Gross Unrealized Losses

Net

Unrealized

Amortized

Unrealized

Less than 12

More than 12

Fair

Gains/

Category

Cost

Gains

Months

Months

Value

(Losses)

U.S. Treasury securities

$

606,281

$

172,745

$

-

$

-

$

779,026

$

172,745

		December 31, 2011
										Gross Unrealized Losses
Category		Cost or Amortized Cost				Gross Unrealized Gains				Less than 12 Months				More than 12 Months				Fair Value				Net Unrealized Gains/ (Losses)


U.S. Treasury securities		$	606,234			$	171,719			$	-			$	-			$	777,953			$	171,719

Schedule of Investment Income

Major categories of the Company’s net investment income are summarized as follows:

		Years ended
		December 31,
		2012				2011
Income:
Fixed-maturity securities		$	951,895			$	748,046
Equity securities			268,034				168,813
Cash and cash equivalents			134				5,248
Other			23,857				11,974
Total			1,243,920				934,081
Expenses:
Investment expenses			228,764				179,451
Net investment income		$	1,015,156			$	754,630

Schedule of net realized gains and losses on investments

The Company’s net realized gains and losses on investments are summarized as follows:

		Year ended
		December 31,
		2012				2011

Fixed-maturity securities
Gross realized gains		$	233,299			$	190,855
Gross realized losses			(52,933	)			(1,983	)
			180,366				188,872

Equity securities
Gross realized gains			137,271				292,687
Gross realized losses			(29,569	)			(90,876	)
			107,702				201,811

Cash and short term investments (1)			-				133,211

Net realized gains		$	288,068			$	523,894

Schedule of Securities with Unrealized Losses

The Company held securities with unrealized losses representing declines that were considered temporary at December 31, 2012 and 2011 as follows:

		December 31, 2012
		Less than 12 months												12 months or more												Total
										No. of												No. of				Aggregate
		Fair				Unrealized				Positions				Fair				Unrealized				Positions				Fair				Unrealized
Category		Value				Losses				Held				Value				Losses				Held				Value				Losses

Fixed-Maturity Securities:
Political subdivisions of
States, Territories and
Possessions		$	202,798			$	(1,574	)			1			$	-			$	-				-			$	202,798			$	(1,574	)

Corporate and other
bonds industrial and
miscellaneous			4,025,551				(43,553	)			19				128,125				(722	)			1				4,153,676				(44,275	)

Total fixed-maturity
securities		$	4,228,349			$	(45,127	)			20			$	128,125			$	(722	)			1			$	4,356,474			$	(45,849	)

Equity Securities:
Preferred stocks		$	387,925			$	(11,130	)			3			$	-			$	-				-			$	387,925			$	(11,130	)
Common stocks			1,536,860				(145,899	)			9				-				-				-				1,536,860				(145,899	)

Total equity securities		$	1,924,785			$	(157,029	)			12			$	-			$	-				-			$	1,924,785			$	(157,029	)

Total		$	6,153,134			$	(202,156	)			32			$	128,125			$	(722	)			1			$	6,281,259			$	(202,878	)

		December 31, 2011
		Less than 12 months												12 months or more												Total
										No. of												No. of				Aggregate
		Fair				Unrealized				Positions				Fair				Unrealized				Positions				Fair				Unrealized
Category		Value				Losses				Held				Value				Losses				Held				Value				Losses

Fixed-Maturity Securities:
Corporate and other
bonds industrial and
miscellaneous		$	4,849,378			$	(228,792	)		$	26			$	1,483,425			$	(107,666	)		$	7			$	6,332,803			$	(336,458	)

Total fixed-maturity
securities		$	4,849,378			$	(228,792	)			26			$	1,483,425			$	(107,666	)			7			$	6,332,803			$	(336,458	)

Equity Securities:
Preferred stocks		$	368,350			$	(76,969	)			12			$	189,364			$	(4,893	)			5			$	557,714			$	(81,862	)
Common stocks			397,268				(21,969	)			14				-				-				-				397,268				(21,969	)

Total equity securities		$	765,618			$	(98,938	)			26			$	189,364			$	(4,893	)			5			$	954,982			$	(103,831	)

Total		$	5,614,996			$	(327,730	)			52			$	1,672,789			$	(112,559	)			12			$	7,287,785			$	(440,289	)

Tabular disclosure of components of comprehensive income (loss) including, but not limited to: (a) foreign currency translation adjustments; (b) gains (losses) on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (c) gains (losses) on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (d) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (e) unrealized holding gains (losses) on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (f) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (g) the net gain (loss) and net prior service cost or credit for pension plans and other postretirement benefit plans.

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