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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenue:        
Premiums and policy fees $ 2,385,113 $ 2,469,322 $ 7,319,807 $ 7,659,198
Ceded reinsurance premiums and policy fees (678,941) (652,418) (2,009,252) (2,164,581)
Net investment income 2,818,669 2,309,470 8,632,402 8,996,566
Other income 95,141 128,059 254,898 308,616
Revenue before net investment gains (losses) 4,619,982 4,254,433 14,197,855 14,799,799
Net investment gains (losses):        
Other-than-temporary impairments 0 (300,000) 0 (300,000)
Other realized investment gains, net 3,727,538 12,074,120 10,143,014 12,723,566
Change in fair value of equity securities (4,046,457) 6,689,533 10,838,322 22,050,489
Total net investment gains (losses) (318,919) 18,463,653 20,981,336 34,474,055
Total revenue 4,301,063 22,718,086 35,179,191 49,273,854
Benefits, claims and settlement expenses:        
Life 4,029,261 4,388,733 12,047,346 12,927,216
Ceded reinsurance benefits and claims (501,184) (1,044,894) (1,583,345) (1,996,044)
Annuity 265,413 252,260 770,452 783,724
Dividends to policyholders 74,864 77,489 274,516 301,779
Commissions and amortization of deferred policy acquisition costs (39,665) (34,464) (102,784) (110,920)
Amortization of cost of insurance acquired 193,977 201,516 581,930 604,549
Operating expenses 1,940,795 3,401,169 5,875,135 7,271,820
Total benefits and other expenses 5,963,461 7,241,809 17,863,250 19,782,124
Income (loss) before income taxes (1,662,398) 15,476,277 17,315,941 29,491,730
Income tax (benefit) expense (578,549) 3,506,656 3,781,340 6,563,628
Net income (loss) (1,083,849) 11,969,621 13,534,601 22,928,102
Net income attributable to noncontrolling interests (32,795) (32,078) (294,308) (184,565)
Net income (loss) attributable to common shareholders $ (1,116,644) $ 11,937,543 $ 13,240,293 $ 22,743,537
Amounts attributable to common shareholders        
Basic income (loss) per share (in dollars per share) $ (0.34) $ 3.62 $ 4.03 $ 6.87
Diluted income (loss) per share (in dollars per share) $ (0.34) $ 3.62 $ 4.03 $ 6.87
Basic weighted average shares outstanding (in shares) 3,279,684 3,299,615 3,289,133 3,311,912
Diluted weighted average shares outstanding (in shares) 3,279,684 3,299,615 3,289,133 3,311,912