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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenue:        
Premiums and policy fees $ 2,155,643 $ 2,296,481 $ 4,308,704 $ 4,595,544
Ceded reinsurance premiums and policy fees (721,650) (696,061) (1,367,799) (1,288,535)
Net investment income 4,440,186 2,082,359 8,899,554 4,042,026
Other income 93,713 94,470 155,036 189,205
Revenue before net investment gains (losses) 5,967,892 3,777,249 11,995,495 7,538,240
Net investment gains (losses):        
Other-than-temporary impairments 0 (411,584) 0 (411,584)
Other realized investment gains, net 79,109 4,287,461 4,859,258 4,432,507
Change in fair value of equity securities (790,338) 195,136 7,364,291 20,375,015
Total net investment gains (losses) (711,229) 4,071,013 12,223,549 24,395,938
Total revenue 5,256,663 7,848,262 24,219,044 31,934,178
Benefits, claims and settlement expenses:        
Life 3,609,121 4,025,758 8,269,918 8,020,609
Ceded reinsurance benefits and claims 245,841 (577,515) (741,590) (986,666)
Annuity 256,188 255,538 519,230 493,093
Dividends to policyholders 85,933 86,476 173,092 174,284
Commissions and amortization of deferred policy acquisition costs (26,290) (30,754) (51,959) (56,908)
Amortization of cost of insurance acquired 172,087 179,102 344,174 357,845
Operating expenses 1,899,338 1,734,156 4,817,661 3,837,533
Interest expense 23,306 0 35,280 0
Total benefits and other expenses 6,265,524 5,672,761 13,365,806 11,839,790
Income before income taxes (1,008,861) 2,175,501 10,853,238 20,094,388
Income tax expense (benefit) (270,762) 350,499 2,372,300 4,070,667
Net income (loss) (738,099) 1,825,002 8,480,938 16,023,721
Net income attributable to noncontrolling interests (27,107) (26,502) (53,821) (56,255)
Net income (loss) attributable to common shareholders $ (765,206) $ 1,798,500 $ 8,427,117 $ 15,967,466
Amounts attributable to common shareholders        
Basic income (loss) per share (in dollars per share) $ (0.24) $ 0.57 $ 2.66 $ 5.03
Diluted income (loss) per share (in dollars per share) $ (0.24) $ 0.57 $ 2.66 $ 5.03
Basic weighted average shares outstanding (in shares) 3,172,243 3,175,027 3,171,667 3,176,012
Diluted weighted average shares outstanding (in shares) 3,172,243 3,175,027 3,171,667 3,176,012