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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue:        
Premiums and policy fees $ 1,925,873 $ 2,087,436 $ 3,925,958 $ 4,144,617
Ceded reinsurance premiums and policy fees (502,822) (807,170) (1,032,583) (1,324,981)
Net investment income 4,295,721 3,243,796 7,344,510 6,561,961
Other income 86,702 70,233 154,969 106,818
Revenue before net investment gains (losses) 5,805,474 4,594,295 10,392,854 9,488,415
Net investment gains (losses):        
Other realized investment gains, net 414,120 319,310 451,590 1,035,610
Change in fair value of equity securities 6,848,994 1,459,478 18,869,400 (7,185,996)
Total net investment gains (losses) 7,263,114 1,778,788 19,320,990 (6,150,386)
Total revenue 13,068,588 6,373,083 29,713,844 3,338,029
Benefits, claims and settlement expenses:        
Life 2,594,722 4,499,416 6,239,173 8,148,440
Ceded reinsurance benefits and claims (183,518) (883,655) (1,348,870) (1,497,016)
Annuity 252,357 257,811 504,092 509,443
Dividends to policyholders 80,098 81,704 161,375 168,702
Commissions and amortization of deferred policy acquisition costs (25,202) (26,298) (55,485) (54,154)
Amortization of cost of insurance acquired 158,954 165,325 317,908 330,639
Operating expenses 2,126,516 2,035,539 4,208,238 4,307,415
Interest expense 0 2,897 11,600 16,820
Total benefits and other expenses 5,003,927 6,132,739 10,038,031 11,930,289
Income (loss) before income taxes 8,064,661 240,344 19,675,813 (8,592,260)
Income tax expense (benefit) 1,560,283 131,662 3,992,912 (1,789,190)
Net income (loss) 6,504,378 108,682 15,682,901 (6,803,070)
Net income attributable to noncontrolling interests (29,191) (29,022) (58,208) (59,512)
Net income (loss) attributable to common shareholders $ 6,475,187 $ 79,660 $ 15,624,693 $ (6,862,582)
Amounts attributable to common shareholders        
Basic income (loss) per share (in dollars per share) $ 2.04 $ 0.03    
Diluted income (loss) per share (in dollars per share) $ 2.04 $ 0.03    
Basic weighted average shares outstanding (in shares) 3,169,060 3,185,576 3,169,216 3,187,327
Diluted weighted average shares outstanding (in shares) 3,169,060 3,185,576 3,169,216 3,187,327