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Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows from Operating Activities:    
Net income $ 42,071,294 $ 10,108,328
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and other non-cash items 1,932,514 1,897,738
Net investment gains (1,072,860) (2,850,047)
Changes in assets and liabilities:    
Losses and loss expenses (3,975,352) 21,261,917
Unearned premiums 23,062,029 54,167,999
Premiums receivable (17,778,303) (24,221,831)
Deferred acquisition costs (3,273,237) (5,883,078)
Deferred income taxes 341,554 347,507
Reinsurance receivable 9,617,024 573,663
Prepaid reinsurance premiums (6,633,206) (17,598,575)
Accrued investment income (231,469) (377,731)
Due from affiliate 1,557,386 (7,912,158)
Reinsurance balances payable (1,045,052) (4,823,656)
Current income taxes (6,399,981) 1,780,003
Accrued expenses (183,779) (435,535)
Other, net (107,301) 463,153
Net adjustments (4,190,033) 16,389,369
Net cash provided by operating activities 37,881,261 26,497,697
Cash Flows from Investing Activities:    
Purchases of fixed maturities, held to maturity (48,228,392) (23,566,350)
Purchases of fixed maturities, available for sale (93,483,260) (72,190,538)
Purchases of equity securities, available for sale (2,512,570) (3,679,586)
Maturity of fixed maturities:    
Held to maturity 15,298,111 12,484,869
Available for sale 47,403,605 52,270,575
Sales of fixed maturities:    
Available for sale 45,876,392 2,995,648
Sales of equity securities, available for sale 2,145,314 0
Net purchases of property and equipment (100) 0
Net (purchases) sales of short-term investments (205,257) 15,734,741
Net cash used in investing activities (33,706,157) (15,950,641)
Cash Flows from Financing Activities:    
Cash dividends paid (12,523,188) (11,249,145)
Issuance of common stock 12,859,239 1,135,412
Net cash provided by (used in) financing activities 336,051 (10,113,733)
Net increase in cash 4,511,155 433,323
Cash at beginning of period 52,925,931 23,792,273
Cash at end of period 57,437,086 24,225,596
Cash paid during period - Interest 677,151 309,183
Net cash paid during period - Taxes $ 15,547,439 $ 0