XML 105 R21.htm IDEA: XBRL DOCUMENT v2.4.0.8
Statutory Accounting
12 Months Ended
Dec. 31, 2013
Statutory Accounting [Abstract]  
Statutory Accounting
Statutory Accounting
The Consolidated Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America which differ in some respects from statutory accounting practices prescribed or permitted in the preparation of financial statements for submission to insurance regulatory authorities.
Combined capital and surplus on a statutory basis was $119,897,974 and $102,047,179 as of December 31, 2013 and 2012, respectively. Net income on a statutory basis was $11,858,699, $11,035,792 and $6,416,684 for the twelve months ended December 31, 2013, 2012 and 2011, respectively.