Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Measurements [Abstract]

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents information about assets and liabilities measured at fair value on a recurring basis and indicates the level of the fair value measurement based on the observability of the inputs used:

March 31, 2026		Level 1		Level 2		Level 3		Total
Fixed maturity securities:
U.S. Government and government agencies and authorities	$	22,707,968	$	0	$	0	$	22,707,968
U.S. special revenue and assessments		0		7,415,539		0		7,415,539
Corporate securities		0		42,050,758		0		42,050,758
Total fixed maturities		22,707,968		49,466,297		0		72,174,265
Equity securities:
Common stocks		79,362,164		5,415,600		3,572,977		88,350,741
Limited liability companies		0		0		85,567,443		85,567,443
Total equity securities		79,362,164		5,415,600		89,140,420		173,918,184
Short-term investments		7,390,012		0		0		7,390,012
Total financial assets	$	109,460,144	$	54,881,897	$	89,140,420	$	253,482,461

December 31, 2025		Level 1		Level 2		Level 3		Total
Fixed maturity securities:
U.S. Government and government agencies and authorities	$	22,750,726	$	0	$	0	$	22,750,726
U.S. special revenue and assessments		0		7,453,922		0		7,453,922
Corporate securities		0		42,954,941		0		42,954,941
Total fixed maturities		22,750,726		50,408,863		0		73,159,589
Equity securities:
Common stocks		75,400,093		5,571,600		3,368,748		84,340,441
Limited liability companies		0		0		85,810,435		85,810,435
Total equity securities		75,400,093		5,571,600		89,179,183		170,150,876
Short-term investments		9,808,824		0		0		9,808,824
Total financial assets	$	107,959,643	$	55,980,463	$	89,179,183	$	253,119,289

Reconciliation for Level 3 Assets Measured at Fair Value on a Recurring Basis

Change in Recurring Fair Value Measurements

The following table presents the changes in Level 3 equity securities measured at fair value on a recurring basis, and the realized and unrealized gains related to the Level 3 equity securities.

				Investments in
		Investments in		Limited Liability
		Common Stocks		Companies			Total
Balance at December 31, 2024	$	3,064,983	$	82,654,596		$	85,719,579
Unrealized gains		303,765		4,146,711			4,450,476
Sales		0		(990,872	)		(990,872	)
Balance at December 31, 2025		3,368,748		85,810,435			89,179,183
Unrealized gains (losses)		204,229		(242,992	)		(38,763	)
Balance at March 31, 2026	$	3,572,977	$	85,567,443		$	89,140,420

Quantitative Information About Level 3 Fair Value Measurements

The following table presents information about the significant unobservable inputs used for recurring fair value measurements for certain Level 3 instruments and includes only those instruments for which information about the inputs is reasonably available to the Company, such as data from independent third-party valuation service providers and from internal valuation models.

		Fair Value at		Fair Value at
Financial Assets		March 31, 2026		December 31, 2025	Valuation Technique
Limited liability companies	$	85,567,443	$	85,810,435	Pricing Model
Common stocks		3,572,977		3,368,748	Pricing Model
Total	$	89,140,420	$	89,179,183

Investments in Certain Entities Carried at Fair Value Using Net Asset Value per Share

Investments in Certain Entities Carried at Fair Value Using Net Asset Value per Share

		Fair Value at		Unfunded		Redemption Notice
Investment Category		March 31, 2026		Commitments	Redemption Frequency	Period
Redeemable
Limited partnership	$	67,060,154	$	0	Quarterly	45 days
Non-redeemable
Limited liability companies		7,851,247		2,580,042	n/a	n/a
Limited partnerships		40,048,326		5,804,849	n/a	n/a
Total	$	114,959,727	$	8,384,891

		Fair Value at		Unfunded		Redemption Notice
Investment Category		December 31, 2025		Commitments	Redemption Frequency	Period
Redeemable
Limited partnership	$	48,740,340	$	0	Quarterly	45 days
Non-redeemable
Limited liability companies		6,883,913		2,740,042	n/a	n/a
Limited partnerships		39,929,101		1,069,085	n/a	n/a
Total	$	95,553,354	$	3,809,127

Carrying Values and Estimated Fair Values of Financial Instruments not Recorded at Fair Value

The following table presents the carrying amount and estimated fair values of the Company’s financial instruments not measured at fair value and indicates the level in the fair value hierarchy of the estimated fair value measurement based on the observability of the inputs used:

		Carrying		Estimated
March 31, 2026		Amount		Fair Value		Level 1		Level 2		Level 3
Assets
Equity securities, at cost	$	13,664,543	$	13,664,543	$	0	$	0	$	13,664,543
Mortgage loans on real estate		13,625,829		13,125,011		0		0		13,125,011
Notes receivable		8,257,713		8,254,172		0		0		8,254,172
Policy loans		5,267,121		5,267,121		0		0		5,267,121
Accrued investment income		1,142,164		1,142,164		0		0		1,142,164
Liabilities
Policy claims and benefits payable		6,208,011		6,208,011		0		0		6,208,011
Dividend and endowment accumulations		14,490,086		14,490,086		0		0		14,490,086

		Carrying		Estimated
December 31, 2025		Amount		Fair Value		Level 1		Level 2		Level 3
Assets
Equity securities, at cost	$	20,510,250	$	20,510,250	$	0	$	0	$	20,510,250
Mortgage loans on real estate		14,402,304		13,637,402		0		0		13,637,402
Notes receivable		8,708,417		8,675,239		0		0		8,675,239
Policy loans		5,361,164		5,361,164		0		0		5,361,164
Accrued investment income		1,129,139		1,129,139		0		0		1,129,139
Liabilities
Policy claims and benefits payable		3,456,000		3,456,000		0		0		3,456,000
Dividend and endowment accumulations		14,568,544		14,568,544		0		0		14,568,544