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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue:        
Premiums and policy fees $ 1,855,251 $ 2,025,092 $ 5,999,868 $ 6,333,796
Ceded reinsurance premiums and policy fees (601,994) (676,460) (1,926,975) (2,044,259)
Net investment income 3,432,684 6,266,722 9,994,645 15,166,276
Other income 69,901 88,035 176,719 243,071
Revenue before net investment gains (losses) 4,755,842 7,703,389 14,244,257 19,698,884
Net investment gains (losses):        
Other realized investment gains, net 7,938,232 1,900,458 8,973,842 6,759,716
Change in fair value of equity securities (23,403) 7,097,738 (7,209,399) 14,462,029
Total net investment gains (losses) 7,914,829 8,998,196 1,764,443 21,221,745
Total revenue 12,670,671 16,701,585 16,008,700 40,920,629
Benefits, claims and settlement expenses:        
Life 3,773,579 3,343,438 11,922,019 11,613,356
Ceded reinsurance benefits and claims (461,207) (486,899) (1,958,223) (1,228,489)
Annuity 259,299 252,079 768,742 771,309
Dividends to policyholders 61,770 63,632 230,472 236,724
Commissions and amortization of deferred policy acquisition costs (30,318) (34,352) (84,472) (86,311)
Amortization of cost of insurance acquired 165,304 172,087 495,943 516,261
Operating expenses 3,136,691 2,733,470 7,444,106 7,551,131
Interest expense 0 36,748 16,820 72,028
Total benefits and other expenses 6,905,118 6,080,203 18,835,407 19,446,009
Income (loss) before income taxes 5,765,553 10,621,382 (2,826,707) 21,474,620
Income tax expense (benefit) 531,882 2,542,701 (1,257,308) 4,915,001
Net income (loss) 5,233,671 8,078,681 (1,569,399) 16,559,619
Net income attributable to noncontrolling interests (28,994) (26,825) (88,506) (80,646)
Net income (loss) attributable to common shareholders $ 5,204,677 $ 8,051,856 $ (1,657,905) $ 16,478,973
Amounts attributable to common shareholders        
Basic income (loss) per share (in dollars per share) $ 1.64 $ 2.54 $ (0.52) $ 5.2
Diluted income (loss) per share (in dollars per share) $ 1.64 $ 2.54 $ (0.52) $ 5.2
Basic weighted average shares outstanding (in shares) 3,169,466 3,165,842 3,181,306 3,169,704
Diluted weighted average shares outstanding (in shares) 3,169,466 3,165,842 3,181,306 3,169,704