5. Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2013

Notes to Financial Statements

Schedule of Fair Value of Financial Instruments

The estimated fair values of the Company’s financial instruments are as follows:

	June 30, 2013				December 31, 2012
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(unaudited)
Fixed-maturity investments held to maturity	$	606,292	$	702,063	$	606,281	$	779,026
Cash and cash equivalents		4,384,700		4,384,700		2,240,012		2,240,012
Premiums receivable		8,367,010		8,367,010		7,766,825		7,766,825
Reinsurance receivables		34,533,032		34,533,032		38,902,782		38,902,782
Notes receivable-sale of business		306,478		306,478		323,141		323,141
Real estate, net of accumulated depreciation		1,771,251		1,816,122		1,696,924		1,720,000
Reinsurance balances payable		5,338,056		5,338,056		1,820,527		1,820,527
Advance payments from catastrophe reinsurers		-		-		7,358,391		7,358,391
Notes payable (including related parties)		877,000		877,000		1,197,000		1,197,000