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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenue:        
Premiums and policy fees $ 2,285,170 $ 2,385,113 $ 7,020,901 $ 7,319,807
Ceded reinsurance premiums and policy fees (757,649) (678,941) (2,128,125) (2,009,252)
Net investment income 2,231,360 2,818,669 8,083,200 8,632,402
Other income 111,775 95,141 264,589 254,898
Revenue before net investment gains (losses) 3,870,656 4,619,982 13,240,565 14,197,855
Net investment gains (losses):        
Other realized investment gains, net 1,754,315 3,727,538 10,708,155 10,143,014
Change in fair value of equity securities (2,277,902) (4,046,457) (14,016,065) 10,838,322
Total net investment gains (losses) (523,587) (318,919) (3,307,910) 20,981,336
Total revenue 3,347,069 4,301,063 9,932,655 35,179,191
Benefits, claims and settlement expenses:        
Life 4,460,762 4,029,261 11,423,300 12,047,346
Ceded reinsurance benefits and claims (966,260) (501,184) (1,954,371) (1,583,345)
Annuity 250,486 265,413 742,023 770,452
Dividends to policyholders 70,125 74,864 256,445 274,516
Commissions and amortization of deferred policy acquisition costs (35,865) (39,665) (99,541) (102,784)
Amortization of cost of insurance acquired 186,214 193,977 558,639 581,930
Operating expenses 2,559,653 1,940,795 6,249,951 5,875,135
Total benefits and other expenses 6,525,115 5,963,461 17,176,446 17,863,250
Income (loss) before income taxes (3,178,046) (1,662,398) (7,243,791) 17,315,941
Income tax (benefit) expense (765,421) (578,549) (1,629,979) 3,781,340
Net income (loss) (2,412,625) (1,083,849) (5,613,812) 13,534,601
Net income attributable to noncontrolling interests (34,081) (32,795) (99,835) (294,308)
Net income (loss) attributable to common shareholders $ (2,446,706) $ (1,116,644) $ (5,713,647) $ 13,240,293
Amounts attributable to common shareholders        
Basic income (loss) per share (in dollars per share) $ (0.76) $ (0.34) $ (1.75) $ 4.03
Diluted income (loss) per share (in dollars per share) $ (0.76) $ (0.34) $ (1.75) $ 4.03
Basic weighted average shares outstanding (in shares) 3,221,049 3,279,684 3,256,217 3,289,133
Diluted weighted average shares outstanding (in shares) 3,221,049 3,279,684 3,256,217 3,289,133