5. Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 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:

	September 30, 2013				December 31, 2012
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(unaudited)
Fixed-maturity investments held to maturity	$	1,448,798	$	1,524,516	$	606,281	$	779,026
Cash and cash equivalents		4,186,660		4,186,660		2,240,012		2,240,012
Premiums receivable		8,202,728		8,202,728		7,766,825		7,766,825
Reinsurance receivables		36,124,555		36,124,555		38,902,782		38,902,782
Real estate, net of accumulated depreciation		1,789,737		1,816,122		1,696,924		1,720,000
Reinsurance balances payable		3,217,230		3,217,230		1,820,527		1,820,527
Advance payments from catastrophe reinsurers		-		-		7,358,391		7,358,391
Notes payable (including related parties)		957,000		957,000		1,197,000		1,197,000