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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenue:        
Premiums and policy fees $ 2,296,481 $ 2,379,976 $ 4,595,544 $ 4,735,731
Ceded reinsurance premiums and policy fees (696,061) (690,036) (1,288,535) (1,370,476)
Net investment income 2,082,359 3,021,654 4,042,026 5,851,840
Other income 94,470 93,772 189,205 152,814
Revenue before net investment gains (losses) 3,777,249 4,805,366 7,538,240 9,369,909
Net investment gains (losses):        
Other-than-temporary impairments (411,584) 0 (411,584) 0
Other realized investment gains, net 4,287,461 (1,978,846) 4,432,507 (2,095,846)
Change in fair value of equity securities 195,136 16,704,460 20,375,015 (688,477)
Total net investment gains (losses) 4,071,013 14,725,614 24,395,938 (2,784,323)
Total revenue 7,848,262 19,530,980 31,934,178 6,585,586
Benefits, claims and settlement expenses:        
Life 4,025,758 3,422,177 8,020,609 6,962,538
Ceded reinsurance benefits and claims (577,515) (353,168) (986,666) (988,111)
Annuity 255,538 259,049 493,093 491,537
Dividends to policyholders 86,476 92,005 174,284 186,320
Commissions and amortization of deferred policy acquisition costs (30,754) (28,559) (56,908) (63,676)
Amortization of cost of insurance acquired 179,102 186,212 357,845 372,425
Operating expenses 1,734,156 1,703,606 3,837,533 3,690,298
Total benefits and other expenses 5,672,761 5,281,322 11,839,790 10,651,331
Income (loss) before income taxes 2,175,501 14,249,658 20,094,388 (4,065,745)
Income tax (benefit) expense 350,499 2,504,024 4,070,667 (864,558)
Net income (loss) 1,825,002 11,745,634 16,023,721 (3,201,187)
Net income attributable to noncontrolling interests (26,502) (33,514) (56,255) (65,754)
Net income (loss) attributable to common shareholders $ 1,798,500 $ 11,712,120 $ 15,967,466 $ (3,266,941)
Amounts attributable to common shareholders        
Basic income (loss) per share (in dollars per share) $ 0.57 $ 3.58 $ 5.03 $ (1.00)
Diluted income (loss) per share (in dollars per share) $ 0.57 $ 3.58 $ 5.03 $ (1.00)
Basic weighted average shares outstanding (in shares) 3,175,027 3,272,715 3,176,012 3,273,395
Diluted weighted average shares outstanding (in shares) 3,175,027 3,272,715 3,176,012 3,273,395