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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $)
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
REVENUES    
Premiums earned (affiliated $105,768,033 and $96,134,999)$ 107,416,257$ 97,284,237$ 304,634,600$ 286,060,414
Investment income, net11,331,25112,235,00734,882,95437,414,018
Net realized investment gains, excluding impairment losses on available-for-sale securities1,390,3822,116,24912,265,1353,724,710
Total other-than-temporary impairment losses on available-for-sale securities(4,912,063)(366,319)(5,742,360)(2,174,873)
Portion of other-than-temporary impairment losses on fixed maturity available-for-sale securities reclassified from other comprehensive income (before taxes)00(86,017)(120,539)
Net impairment losses on available-for-sale securities00(5,828,377)(2,295,412)
Net realized investment gains (losses)(3,521,681)1,749,9306,436,7581,429,298
Other income (all affiliated)198,157229,520638,470656,567
Total revenues115,423,984111,498,694346,592,782325,560,297
LOSSES AND EXPENSES    
Losses and settlement expenses (affiliated $91,157,122 and $67,706,628)91,360,67767,572,519266,501,044194,767,211
Dividends to policyholders (all affiliated)1,713,3361,905,2314,081,3745,778,317
Amortization of deferred policy acquisition costs (affiliated $23,214,123 and $21,306,350)23,284,18221,590,58170,940,12666,096,981
Other underwriting expenses (affiliated $6,670,729 and $9,422,956)6,670,5359,422,95624,926,97128,922,785
Interest expense (all affiliated)225,000225,000675,000675,000
Other expense (affiliated $563,369 and $810,159)176,050965,9562,131,4751,464,866
Total losses and expenses123,429,780101,682,243369,255,990297,705,160
Income (loss) before income tax expense (benefit)(8,005,796)9,816,451(22,663,208)27,855,137
INCOME TAX EXPENSE (BENEFIT)    
Current(3,108,524)2,055,285(10,046,869)6,591,688
Deferred(753,189)302,591(1,212,387)628,309
Total income tax expense (benefit)(3,861,713)2,357,876(11,259,256)7,219,997
Net income (loss)$ (4,144,083)$ 7,458,575$ (11,403,952)$ 20,635,140
Net income (loss) per common share-basic and diluted (in dollars per share)$ (0.32)$ 0.57$ (0.88)$ 1.58
Dividend per common share (in dollars per share)$ 0.19$ 0.18$ 0.57$ 0.54
Average number of common shares outstanding-basic and diluted (in shares)12,886,16312,979,37212,926,67013,077,450