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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenue:        
Premiums and policy fees $ 2,087,436 $ 2,155,643 $ 4,144,617 $ 4,308,704
Ceded reinsurance premiums and policy fees (807,170) (721,650) (1,324,981) (1,367,799)
Net investment income 3,243,796 4,440,186 6,561,961 8,899,554
Other income 70,233 93,713 106,818 155,036
Revenue before net investment gains (losses) 4,594,295 5,967,892 9,488,415 11,995,495
Net investment gains (losses):        
Other realized investment gains, net 319,310 79,109 1,035,610 4,859,258
Change in fair value of equity securities 1,459,478 (790,338) (7,185,996) 7,364,291
Total net investment gains (losses) 1,778,788 (711,229) (6,150,386) 12,223,549
Total revenue 6,373,083 5,256,663 3,338,029 24,219,044
Benefits, claims and settlement expenses:        
Life 4,499,416 3,609,121 8,148,440 8,269,918
Ceded reinsurance benefits and claims (883,655) 245,841 (1,497,016) (741,590)
Annuity 257,811 256,188 509,443 519,230
Dividends to policyholders 81,704 85,933 168,702 173,092
Commissions and amortization of deferred policy acquisition costs (26,298) (26,290) (54,154) (51,959)
Amortization of cost of insurance acquired 165,325 172,087 330,639 344,174
Operating expenses 2,035,539 1,899,338 4,307,415 4,817,661
Interest expense 2,897 23,306 16,820 35,280
Total benefits and other expenses 6,132,739 6,265,524 11,930,289 13,365,806
Income (loss) before income taxes 240,344 (1,008,861) (8,592,260) 10,853,238
Income tax expense (benefit) 131,662 (270,762) (1,789,190) 2,372,300
Net income (loss) 108,682 (738,099) (6,803,070) 8,480,938
Net income attributable to noncontrolling interests (29,022) (27,107) (59,512) (53,821)
Net income (loss) attributable to common shareholders $ 79,660 $ (765,206) $ (6,862,582) $ 8,427,117
Amounts attributable to common shareholders        
Basic income (loss) per share (in dollars per share) $ 0.03 $ (0.24) $ (2.15) $ 2.66
Diluted income (loss) per share (in dollars per share) $ 0.03 $ (0.24) $ (2.15) $ 2.66
Basic weighted average shares outstanding (in shares) 3,185,576 3,172,243 3,187,327 3,171,667
Diluted weighted average shares outstanding (in shares) 3,185,576 3,172,243 3,187,327 3,171,667