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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue:        
Premiums and policy fees $ 1,819,591 $ 1,855,251 $ 5,745,549 $ 5,999,868
Ceded reinsurance premiums and policy fees (448,154) (601,994) (1,480,737) (1,926,975)
Net investment income 3,591,503 3,432,684 10,936,013 9,994,645
Other income 31,631 69,901 186,600 176,719
Revenue before net investment gains (losses) 4,994,571 4,755,842 15,387,425 14,244,257
Net investment gains (losses):        
Other realized investment gains, net 1,668,652 7,938,232 2,120,242 8,973,842
Change in fair value of equity securities 32,302,676 (23,403) 51,172,076 (7,209,399)
Total net investment gains (losses) 33,971,328 7,914,829 53,292,318 1,764,443
Total revenue 38,965,899 12,670,671 68,679,743 16,008,700
Benefits, claims and settlement expenses:        
Life 3,817,317 3,773,579 10,056,490 11,922,019
Ceded reinsurance benefits and claims (536,745) (461,207) (1,885,615) (1,958,223)
Annuity 258,186 259,299 762,278 768,742
Dividends to policyholders 59,844 61,770 221,219 230,472
Commissions and amortization of deferred policy acquisition costs (31,905) (30,318) (87,390) (84,472)
Amortization of cost of insurance acquired 158,953 165,304 476,861 495,943
Operating expenses 1,979,928 3,136,691 6,188,166 7,444,106
Interest expense 0 0 11,600 16,820
Total benefits and other expenses 5,705,578 6,905,118 15,743,609 18,835,407
Income (loss) before income taxes 33,260,321 5,765,553 52,936,134 (2,826,707)
Income tax expense (benefit) 6,920,628 531,882 10,913,540 (1,257,308)
Net income (loss) 26,339,693 5,233,671 42,022,594 (1,569,399)
Net income attributable to noncontrolling interests (21,773) (28,994) (79,981) (88,506)
Net income (loss) attributable to common shareholders $ 26,317,920 $ 5,204,677 $ 41,942,613 $ (1,657,905)
Amounts attributable to common shareholders        
Basic income (loss) per share (in dollars per share) $ 8.31 $ 1.64    
Diluted income (loss) per share (in dollars per share) $ 8.31 $ 1.64    
Basic weighted average shares outstanding (in shares) 3,166,722 3,169,466 3,168,376 3,181,306
Diluted weighted average shares outstanding (in shares) 3,166,722 3,169,466 3,168,376 3,181,306