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20-2907892
205 North Depot Street
Stanford
KY
40484
217
241-6300
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<div style="color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Note 1 – Basis of Presentation</span>
</div>
<div style="text-align: justify; color: #000000;"> </div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">The accompanying Condensed
Consolidated Balance Sheet as of March 31, 2026, which has been derived from
audited consolidated financial statements, and the unaudited interim Condensed
Consolidated Financial Statements include the accounts of UTG, Inc. (the
“Parent”) and its subsidiaries (collectively with the Parent, the “Company”).<span style="mso-spacerun:yes"> </span>All significant intercompany accounts and
transactions have been eliminated in consolidation.<span style="mso-spacerun:yes"> </span>The accompanying Condensed Consolidated
Financial Statements have been prepared in accordance with accounting
principles generally accepted in the United States of America (“GAAP”) for
interim financial information and with the instructions to Form 10-Q and
Article 8 of regulation S-X.<span style="mso-spacerun:yes">
</span>Accordingly, they do not include all of the information and notes
required by GAAP for audited annual financial statements.<span style="mso-spacerun:yes"> </span>The information furnished includes all
adjustments and accruals of a normal recurring nature, which in the opinion of
Management, are necessary for a fair presentation of the results for the
interim periods.<span style="mso-spacerun:yes"> </span>The unaudited Condensed
Consolidated Financial Statements included herein and these related notes
should be read in conjunction with the Company’s consolidated financial
statements, and the notes thereto, included in the Company’s Annual Report on
Form 10-K for the year ended December
31, 2025.<span style="mso-spacerun:yes"> </span>The
Company’s results of operations for the three
months ended March 31, 2026 are not necessarily indicative of the results that
may be expected for the year ending December 31, 2026 or for any other future
period.</div>
<div style="text-align: justify; color: #000000;"> </div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">This document at
times will refer to the Registrant’s largest shareholder, Mr. Jesse T. Correll
and certain companies controlled by Mr. Correll.<span style="mso-spacerun:yes"> </span>Mr. Correll holds a majority ownership of
First Southern Funding, LLC (“FSF”), a Kentucky corporation, and First Southern
Bancorp, Inc. (“FSBI”), a financial services holding company.<span style="mso-spacerun:yes"> </span>FSBI operates through its 95% indirectly owned subsidiary
bank, First Southern National Bank (“FSNB”).<span style="mso-spacerun:yes">
</span>Banking activities are conducted through multiple locations within
south-central and western Kentucky.<span style="mso-spacerun:yes"> </span>Mr.
Correll is Chief Executive Officer, President, and Chairman of
the Board of Directors of UTG and is currently UTG’s largest shareholder
through his ownership control of FSF, FSBI and affiliates. At March 31, 2026, Mr. Correll owns or controls directly and
indirectly approximately 69% of UTG’s outstanding stock.</div><div style="text-align: justify; color: #000000;"> </div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">UTG’s life insurance subsidiary, Universal Guaranty Life Insurance Company (“UG”), has several wholly-owned and majority-owned subsidiaries. The subsidiaries were formed to hold certain real estate investments. The real estate investments were placed into the limited liability companies and partnerships to provide additional protection to the policyholders and to UG.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">Certain amounts in prior periods have been reclassified to conform with the current period presentation.</span> </div>
<div style="color: #000000;">
</div>
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt; font-weight: bold;">Subsequent Events - </span><span style="font-size: 10.0pt;">Management has evaluated subsequent events for recognition and disclosure in the consolidated financial statements through the date the consolidated financial statements were available to be issued. The Company did not identify any subsequent events requiring recognition or disclosure.</span> </div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">The accompanying Condensed
Consolidated Balance Sheet as of March 31, 2026, which has been derived from
audited consolidated financial statements, and the unaudited interim Condensed
Consolidated Financial Statements include the accounts of UTG, Inc. (the
“Parent”) and its subsidiaries (collectively with the Parent, the “Company”).<span style="mso-spacerun:yes"> </span>All significant intercompany accounts and
transactions have been eliminated in consolidation.<span style="mso-spacerun:yes"> </span>The accompanying Condensed Consolidated
Financial Statements have been prepared in accordance with accounting
principles generally accepted in the United States of America (“GAAP”) for
interim financial information and with the instructions to Form 10-Q and
Article 8 of regulation S-X.<span style="mso-spacerun:yes">
</span>Accordingly, they do not include all of the information and notes
required by GAAP for audited annual financial statements.<span style="mso-spacerun:yes"> </span>The information furnished includes all
adjustments and accruals of a normal recurring nature, which in the opinion of
Management, are necessary for a fair presentation of the results for the
interim periods.<span style="mso-spacerun:yes"> </span>The unaudited Condensed
Consolidated Financial Statements included herein and these related notes
should be read in conjunction with the Company’s consolidated financial
statements, and the notes thereto, included in the Company’s Annual Report on
Form 10-K for the year ended December
31, 2025.<span style="mso-spacerun:yes"> </span>The
Company’s results of operations for the three
months ended March 31, 2026 are not necessarily indicative of the results that
may be expected for the year ending December 31, 2026 or for any other future
period.</div><div style="margin: 0in; font-size: 10pt; text-align: justify;">This document at
times will refer to the Registrant’s largest shareholder, Mr. Jesse T. Correll
and certain companies controlled by Mr. Correll.<span style="mso-spacerun:yes"> </span>Mr. Correll holds a majority ownership of
First Southern Funding, LLC (“FSF”), a Kentucky corporation, and First Southern
Bancorp, Inc. (“FSBI”), a financial services holding company.<span style="mso-spacerun:yes"> </span>FSBI operates through its 95% indirectly owned subsidiary
bank, First Southern National Bank (“FSNB”).<span style="mso-spacerun:yes">
</span>Banking activities are conducted through multiple locations within
south-central and western Kentucky.<span style="mso-spacerun:yes"> </span>Mr.
Correll is Chief Executive Officer, President, and Chairman of
the Board of Directors of UTG and is currently UTG’s largest shareholder
through his ownership control of FSF, FSBI and affiliates. At March 31, 2026, Mr. Correll owns or controls directly and
indirectly approximately 69% of UTG’s outstanding stock.</div>
0.95
0.69
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">Certain amounts in prior periods have been reclassified to conform with the current period presentation.</span> </div>
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt; font-weight: bold;">Subsequent Events - </span><span style="font-size: 10.0pt;">Management has evaluated subsequent events for recognition and disclosure in the consolidated financial statements through the date the consolidated financial statements were available to be issued. The Company did not identify any subsequent events requiring recognition or disclosure.</span> </div>
<div style="color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Note 2 – Recently Issued Accounting Standards</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">During the three months ended March 31, 2026, there were no additions to or changes
in the critical accounting policies disclosed in the 2025 Form 10-K.</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Note 3 – Investments</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Investment in Fixed Maturity Securities</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The Company’s insurance subsidiary is regulated by insurance statutes and regulations as to the type of investments they are permitted to make, and the amount of funds that may be used for any one type of investment.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="color: #000000;"> <span style="font-size: 10.0pt;">Investments in fixed maturity securities are summarized by type as follows:</span> </div>
<div style="font-size: 10pt; color: #000000;">
</div>
<table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td> </td><td style="width: 1%;" title="Investment in FMS - C2"> </td><td style="text-align: center; width: 9%;">Original or Amortized</td><td style="width: 1%;" title="Investment in FMS - C2"> </td><td> </td><td style="width: 1%;" title="Investment in FMS - E2"> </td><td style="text-align: center; width: 9%;">Gross Unrealized</td><td style="width: 1%;" title="Investment in FMS - E2"> </td><td> </td><td style="width: 1%;" title="Investment in FMS - G2"> </td><td style="text-align: center; width: 9%;">Gross Unrealized</td><td style="width: 1%;" title="Investment in FMS - G2"> </td><td> </td><td style="width: 1%;" title="Investment in FMS - I2"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Investment in FMS - I2"> </td></tr><tr><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - C3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Cost</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - C3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - E3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;"> Gains</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - E3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - G3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;"> Losses</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - G3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - I3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Fair Value</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - I3"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>U.S. Government and govt. agencies and authorities</td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - C4">$</td><td style="width: 9%; text-align: right;">22,843,918</td><td style="width: 1%; text-align: left;" title="Investment in FMS - C4"> </td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - E4">$</td><td style="width: 9%; text-align: right;">23,851</td><td style="width: 1%; text-align: left;" title="Investment in FMS - E4"> </td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - G4">$</td><td style="width: 9%; text-align: right;">(159,801</td><td style="width: 1%; text-align: left;" title="Investment in FMS - G4">) </td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - I4">$</td><td style="width: 9%; text-align: right;">22,707,968</td><td style="width: 1%; text-align: left;" title="Investment in FMS - I4"> </td></tr><tr><td>U.S. special revenue and assessments</td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - C5"> </td><td style="width: 9%; text-align: right;">7,514,694</td><td style="width: 1%; text-align: left;" title="Investment in FMS - C5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - E5"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Investment in FMS - E5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - G5"> </td><td style="width: 9%; text-align: right;">(99,155</td><td style="width: 1%; text-align: left;" title="Investment in FMS - G5">) </td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - I5"> </td><td style="width: 9%; text-align: right;">7,415,539</td><td style="width: 1%; text-align: left;" title="Investment in FMS - I5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>All other corporate bonds</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - C6"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">43,972,364</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - C6"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - E6"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">89,444</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - E6"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - G6"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(2,011,050</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - G6">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - I6"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">42,050,758</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - I6"> </td></tr><tr><td>Total fixed maturities, at fair value</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - C7">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">74,330,976</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - C7"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - E7">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">113,295</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - E7"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - G7">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">(2,270,006</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - G7">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - I7">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">72,174,265</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - I7"> </td></tr></table><div style="color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td> </td><td style="width: 1%;" title="Investment in FMS - C12"> </td><td style="text-align: center; width: 9%;">Original or Amortized</td><td style="width: 1%;" title="Investment in FMS - C12"> </td><td> </td><td style="width: 1%;" title="Investment in FMS - E12"> </td><td style="text-align: center; width: 9%;">Gross Unrealized</td><td style="width: 1%;" title="Investment in FMS - E12"> </td><td> </td><td style="width: 1%;" title="Investment in FMS - G12"> </td><td style="text-align: center; width: 9%;">Gross Unrealized</td><td style="width: 1%;" title="Investment in FMS - G12"> </td><td> </td><td style="width: 1%;" title="Investment in FMS - I12"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Investment in FMS - I12"> </td></tr><tr><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">December 31, 2025</td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - C13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Cost</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - C13"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - E13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;"> Gains</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - E13"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - G13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;"> Losses</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - G13"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - I13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Fair Value</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - I13"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>U.S. Government and govt. agencies and authorities</td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - C14">$</td><td style="width: 9%; text-align: right;">22,839,422</td><td style="width: 1%; text-align: left;" title="Investment in FMS - C14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - E14">$</td><td style="width: 9%; text-align: right;">60,190</td><td style="width: 1%; text-align: left;" title="Investment in FMS - E14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - G14">$</td><td style="width: 9%; text-align: right;">(148,886</td><td style="width: 1%; text-align: left;" title="Investment in FMS - G14">) </td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - I14">$</td><td style="width: 9%; text-align: right;">22,750,726</td><td style="width: 1%; text-align: left;" title="Investment in FMS - I14"> </td></tr><tr><td>U.S. special revenue and assessments</td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - C15"> </td><td style="width: 9%; text-align: right;">7,516,321</td><td style="width: 1%; text-align: left;" title="Investment in FMS - C15"> </td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - E15"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Investment in FMS - E15"> </td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - G15"> </td><td style="width: 9%; text-align: right;">(62,399</td><td style="width: 1%; text-align: left;" title="Investment in FMS - G15">) </td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - I15"> </td><td style="width: 9%; text-align: right;">7,453,922</td><td style="width: 1%; text-align: left;" title="Investment in FMS - I15"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>All other corporate bonds</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - C16"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">44,545,247</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - C16"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - E16"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">148,195</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - E16"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - G16"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(1,738,501</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - G16">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - I16"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">42,954,941</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - I16"> </td></tr><tr><td>Total fixed maturities, at fair value</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - C17">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">74,900,990</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - C17"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - E17">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">208,385</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - E17"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - G17">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">(1,949,786</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - G17">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - I17">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">73,159,589</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - I17"> </td></tr></table><div style="color: #000000;"> </div><div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">The amortized cost and estimated market value of fixed maturity securities at March 31, 2026, by contractual maturity, is shown below.</span> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Amortized cost & FV of FMS - C4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Amortized Cost</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Amortized cost & FV of FMS - C4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Amortized cost & FV of FMS - E4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Fair Value</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Amortized cost & FV of FMS - E4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Due in one year or less</td><td> </td><td style="width: 1%; text-align: left;" title="Amortized cost & FV of FMS - C5">$</td><td style="width: 9%; text-align: right;">26,613,198</td><td style="width: 1%; text-align: left;" title="Amortized cost & FV of FMS - C5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Amortized cost & FV of FMS - E5">$</td><td style="width: 9%; text-align: right;">26,514,612</td><td style="width: 1%; text-align: left;" title="Amortized cost & FV of FMS - E5"> </td></tr><tr><td>Due after one year through five years</td><td> </td><td style="width: 1%; text-align: left;" title="Amortized cost & FV of FMS - C6"> </td><td style="width: 9%; text-align: right;">25,184,612</td><td style="width: 1%; text-align: left;" title="Amortized cost & FV of FMS - C6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Amortized cost & FV of FMS - E6"> </td><td style="width: 9%; text-align: right;">25,021,098</td><td style="width: 1%; text-align: left;" title="Amortized cost & FV of FMS - E6"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Due after five years through ten years</td><td> </td><td style="width: 1%; text-align: left;" title="Amortized cost & FV of FMS - C7"> </td><td style="width: 9%; text-align: right;">7,960,994</td><td style="width: 1%; text-align: left;" title="Amortized cost & FV of FMS - C7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Amortized cost & FV of FMS - E7"> </td><td style="width: 9%; text-align: right;">7,498,425</td><td style="width: 1%; text-align: left;" title="Amortized cost & FV of FMS - E7"> </td></tr><tr><td>Due after ten years</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Amortized cost & FV of FMS - C8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">14,572,172</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Amortized cost & FV of FMS - C8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Amortized cost & FV of FMS - E8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">13,140,130</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Amortized cost & FV of FMS - E8"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Total</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Amortized cost & FV of FMS - C9">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">74,330,976</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Amortized cost & FV of FMS - C9"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Amortized cost & FV of FMS - E9">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">72,174,265</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Amortized cost & FV of FMS - E9"> </td></tr></table><div style="color: #000000;"> </div><div style="color: #000000;">
<span style="font-size: 10.0pt;">Actual maturities may differ from contractual maturities due to the exercise of call or prepayment options.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">By insurance statute, the majority of the Company’s investment portfolio is invested in investment grade securities to provide ample protection for policyholders.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">Below investment grade debt securities generally provide higher yields and involve greater risks than investment grade debt securities because their issuers typically are more highly leveraged and more vulnerable to adverse economic conditions than investment grade issuers. In addition, the trading market for these securities is usually more limited than for investment grade debt securities. Debt securities classified as below-investment grade are those that receive a Standard & Poor’s rating of BB+ or below.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">The Company held below investment grade investments with an estimated market value of $0 as of March 31, 2026 and December 31, 2025.</span> </div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">The following tables present the estimated fair value and gross unrealized losses of fixed maturity securities in an unrealized loss position:</span> </div>
<div style="color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Less than 12 months</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">12 months or longer</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Total</td></tr><tr><td> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="FV & Unrealized Losses of FMS - C5"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Fair value</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="FV & Unrealized Losses of FMS - C5"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="FV & Unrealized Losses of FMS - E5"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Unrealized losses</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="FV & Unrealized Losses of FMS - E5"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="FV & Unrealized Losses of FMS - G5"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Fair value</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="FV & Unrealized Losses of FMS - G5"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="FV & Unrealized Losses of FMS - I5"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Unrealized losses</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="FV & Unrealized Losses of FMS - I5"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="FV & Unrealized Losses of FMS - K5"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Fair value</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="FV & Unrealized Losses of FMS - K5"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="FV & Unrealized Losses of FMS - M5"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Unrealized losses</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="FV & Unrealized Losses of FMS - M5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>U.S. Government and govt. agencies and authorities</td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - C6">$</td><td style="width: 9%; text-align: right;">5,667,112</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - C6"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - E6">$</td><td style="width: 9%; text-align: right;">(36,513</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - E6">) </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - G6">$</td><td style="width: 9%; text-align: right;">6,987,201</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - G6"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - I6">$</td><td style="width: 9%; text-align: right;">(123,288</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - I6">) </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - K6">$</td><td style="width: 9%; text-align: right;">12,654,313</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - K6"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - M6">$</td><td style="width: 9%; text-align: right;">(159,801</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - M6">) </td></tr><tr><td>U.S. special revenue and assessments</td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - C7"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - C7"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - E7"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - E7"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - G7"> </td><td style="width: 9%; text-align: right;">7,415,539</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - G7"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - I7"> </td><td style="width: 9%; text-align: right;">(99,155</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - I7">) </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - K7"> </td><td style="width: 9%; text-align: right;">7,415,539</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - K7"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - M7"> </td><td style="width: 9%; text-align: right;">(99,155</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - M7">) </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>All other corporate bonds</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - C8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">2,059,175</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - C8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - E8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(13,172</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - E8">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - G8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">33,390,720</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - G8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - I8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(1,997,878</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - I8">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - K8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">35,449,895</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - K8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - M8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(2,011,050</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - M8">) </td></tr><tr><td>Total fixed maturities</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - C9">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">7,726,287</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - C9"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - E9">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">(49,685</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - E9">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - G9">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">47,793,460</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - G9"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - I9">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">(2,220,321</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - I9">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - K9">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">55,519,747</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - K9"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - M9">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">(2,270,006</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - M9">) </td></tr></table><div style="color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">December 31, 2025</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Less than 12 months</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">12 months or longer</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Total</td></tr><tr><td> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - C13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Fair value</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - C13"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - E13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Unrealized losses</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - E13"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - G13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Fair value</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - G13"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - I13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Unrealized losses</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - I13"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - K13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Fair value</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - K13"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - M13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Unrealized losses</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - M13"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>U.S. Government and govt. agencies and authorities</td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - C14">$</td><td style="width: 9%; text-align: right;">996,280</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - C14"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - E14">$</td><td style="width: 9%; text-align: right;">(2,040</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - E14">) </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - G14">$</td><td style="width: 9%; text-align: right;">8,663,797</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - G14"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - I14">$</td><td style="width: 9%; text-align: right;">(146,846</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - I14">) </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - K14">$</td><td style="width: 9%; text-align: right;">9,660,077</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - K14"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - M14">$</td><td style="width: 9%; text-align: right;">(148,886</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - M14">) </td></tr><tr><td>U.S. special revenue and assessments</td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - C15"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - C15"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - E15"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - E15"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - G15"> </td><td style="width: 9%; text-align: right;">7,453,922</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - G15"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - I15"> </td><td style="width: 9%; text-align: right;">(62,399</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - I15">) </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - K15"> </td><td style="width: 9%; text-align: right;">7,453,922</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - K15"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - M15"> </td><td style="width: 9%; text-align: right;">(62,399</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - M15">) </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>All other corporate bonds</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - C16"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">0</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - C16"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - E16"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">0</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - E16"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - G16"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">34,265,250</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - G16"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - I16"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(1,738,501</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - I16">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - K16"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">34,265,250</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - K16"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - M16"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(1,738,501</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - M16">) </td></tr><tr><td>Total fixed maturities</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - C17">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">996,280</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - C17"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - E17">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">(2,040</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - E17">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - G17">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">50,382,969</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - G17"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - I17">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">(1,947,746</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - I17">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - K17">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">51,379,249</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - K17"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - M17">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">(1,949,786</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - M17">) </td></tr></table><div style="color: #000000;"> </div><div style="color: #000000;"> <span style="font-size: 10.0pt;">Additional information regarding investments in an unrealized loss position is as follows:</span> </div>
<div style="text-align: justify; color: #000000;"> </div>
<table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Inv in Unrealized Loss Position - B3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Less than 12 months</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Inv in Unrealized Loss Position - B3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Inv in Unrealized Loss Position - D3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">12 months or longer</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Inv in Unrealized Loss Position - D3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Inv in Unrealized Loss Position - F3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Total</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Inv in Unrealized Loss Position - F3"> </td></tr><tr><td>As of March 31, 2026</td><td style="width: 1%;" title="Inv in Unrealized Loss Position - B4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Inv in Unrealized Loss Position - B4"> </td><td> </td><td style="width: 1%;" title="Inv in Unrealized Loss Position - D4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Inv in Unrealized Loss Position - D4"> </td><td> </td><td style="width: 1%;" title="Inv in Unrealized Loss Position - F4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Inv in Unrealized Loss Position - F4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="padding-left: 20px;"> Fixed maturities</td><td style="width: 1%; text-align: left;" title="Inv in Unrealized Loss Position - B5"> </td><td style="width: 9%; text-align: right;">6</td><td style="width: 1%; text-align: left;" title="Inv in Unrealized Loss Position - B5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Inv in Unrealized Loss Position - D5"> </td><td style="width: 9%; text-align: right;">27</td><td style="width: 1%; text-align: left;" title="Inv in Unrealized Loss Position - D5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Inv in Unrealized Loss Position - F5"> </td><td style="width: 9%; text-align: right;">33</td><td style="width: 1%; text-align: left;" title="Inv in Unrealized Loss Position - F5"> </td></tr><tr><td>As of December 31, 2025</td><td style="width: 1%;" title="Inv in Unrealized Loss Position - B6"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Inv in Unrealized Loss Position - B6"> </td><td> </td><td style="width: 1%;" title="Inv in Unrealized Loss Position - D6"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Inv in Unrealized Loss Position - D6"> </td><td> </td><td style="width: 1%;" title="Inv in Unrealized Loss Position - F6"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Inv in Unrealized Loss Position - F6"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="padding-left: 20px;"> Fixed maturities</td><td style="width: 1%; text-align: left;" title="Inv in Unrealized Loss Position - B7"> </td><td style="width: 9%; text-align: right;">1</td><td style="width: 1%; text-align: left;" title="Inv in Unrealized Loss Position - B7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Inv in Unrealized Loss Position - D7"> </td><td style="width: 9%; text-align: right;">29</td><td style="width: 1%; text-align: left;" title="Inv in Unrealized Loss Position - D7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Inv in Unrealized Loss Position - F7"> </td><td style="width: 9%; text-align: right;">30</td><td style="width: 1%; text-align: left;" title="Inv in Unrealized Loss Position - F7"> </td></tr></table><div style="text-align: justify; color: #000000;"> </div><div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Allowance for Credit Loss - Available for Sale Securities</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">Management considers a wide range of factors about the security issuer and uses its best judgment in evaluating the cause of the decline in the estimated fair value of the security and in assessing the prospects for near-term recovery. Inherent in management’s evaluation of the security are assumptions and estimates about the operations of the issuer and its future earnings potential. Considerations used in the credit loss evaluation process include, but are not limited to: (1) the extent to which the estimated fair value has been below amortized cost, (2) adverse conditions specifically related to a security, an industry sector, adverse change in the financial condition of the issuer of the security, (3) payment structure of the security and likelihood of the issuer being able to make payments, (4) failure of the issuer to make scheduled interest and principal payments, (5) whether the issuer, or series of issuers or an industry has suffered a catastrophic loss or has exhausted natural resources, (6) whether the Company has the intent to sell or will more likely than not be required to sell a particular security before the decline in estimated fair value below amortized cost recovers, (7) changes in the rating of the security by a rating agency, and (8) other subjective factors.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">Substantially all of the unrealized losses on fixed
maturity securities at
March 31, 2026 and December 31, 2025 are attributable to changes in market interest rates and
general disruptions in the credit market subsequent to purchase. At March 31,
2026, the Company did not intend to sell its securities in an unrealized
loss position, and it was not more likely than not that the Company would be
required to sell these securities before the anticipated recovery of the
remaining amortized cost. Therefore, the Company concluded that these
securities had not incurred a credit loss and should not have an allowance for
credit loss at March 31,
2026.</div><div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">Future provisions for credit loss will depend primarily on economic fundamentals, issuer performance, and changes in credit ratings.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">Net unrealized losses included in accumulated other comprehensive income (loss) for investments classified as available-for-sale, net of the effect of deferred income taxes, assuming that the depreciation had been realized as of March 31, 2026 and December 31, 2025:</span> </div>
<div style="text-align: justify; font-size: 10pt; color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Unrealized Losses in AOCI - B3"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 9%;">March 31, 2026</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Unrealized Losses in AOCI - B3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Unrealized Losses in AOCI - D3"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 9%;">December 31, 2025</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Unrealized Losses in AOCI - D3"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Unrealized appreciation (depreciation) on available-for-sale securities</td><td style="text-align: left; width: 1%;" title="Unrealized Losses in AOCI - B4">$</td><td style="text-align: right; width: 9%;">(2,156,711</td><td style="text-align: left; width: 1%;" title="Unrealized Losses in AOCI - B4">) </td><td> </td><td style="text-align: left; width: 1%;" title="Unrealized Losses in AOCI - D4">$</td><td style="text-align: right; width: 9%;">(1,741,400</td><td style="text-align: left; width: 1%;" title="Unrealized Losses in AOCI - D4">) </td></tr><tr><td>Deferred income taxes</td><td style="text-align: left; width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Unrealized Losses in AOCI - B5"> </td><td style="text-align: right; width: 9%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">452,909</td><td style="text-align: left; width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Unrealized Losses in AOCI - B5"> </td><td> </td><td style="text-align: left; width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Unrealized Losses in AOCI - D5"> </td><td style="text-align: right; width: 9%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">365,693</td><td style="text-align: left; width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Unrealized Losses in AOCI - D5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Net unrealized appreciation (depreciation) on available-for-sale securities</td><td style="text-align: left; width: 1%; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Unrealized Losses in AOCI - B6">$</td><td style="text-align: right; width: 9%; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">(1,703,802</td><td style="text-align: left; width: 1%; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Unrealized Losses in AOCI - B6">) </td><td> </td><td style="text-align: left; width: 1%; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Unrealized Losses in AOCI - D6">$</td><td style="text-align: right; width: 9%; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">(1,375,707</td><td style="text-align: left; width: 1%; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Unrealized Losses in AOCI - D6">) </td></tr></table><div style="text-align: justify; font-size: 10pt; color: #000000;"> </div><div style="color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Cost Method Equity Investments</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">The Company held
equity investments with an aggregate cost of $13,664,543 and $20,510,250 at March 31, 2026 and December 31, 2025, respectively. These equity
investments were not reported at fair value because it is not practicable to
estimate their fair values due to insufficient information being available.
Management reviews and considers events or changes in circumstances that might
have a significant adverse effect on the reported value of those investments.
Management did not identify any events or changes in circumstances that might
have a significant adverse effect on the reported value of those investments.<span style="mso-spacerun:yes"> </span></div><div style="color: #000000;">
</div>
<div style="color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Mortgage Loans</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: rgb(0, 0, 0); font-size: 10pt;">
The Company, from time to time, acquires mortgage loans through participation agreements with FSNB. FSNB has been able to provide the Company with additional expertise and experience in underwriting commercial and residential mortgage loans, which provide more attractive yields than the traditional bond market. The Company is able to receive participations from FSNB for three primary reasons: 1) FSNB has already reached its maximum lending limit to a single borrower, but the borrower is still considered a suitable risk; 2) the interest rate on a particular loan may be fixed for a long period that is more suitable for UG given its asset-liability structure; and 3) FSNB’s loan growth might at times outpace its deposit growth, resulting in FSNB participating such excess loan growth rather than turning customers away. For originated loans, the Company’s Management is responsible for the final approval of such loans after evaluation. Before a new loan is issued, the applicant is subject to certain criteria set forth by Company Management to ensure quality control. These criteria include, but are not limited to, a credit report, personal financial information such as outstanding debt, sources of income, and personal equity. Once the loan is approved, the Company directly funds the loan to the borrower. The Company bears all risk of loss associated with the terms of the mortgage with the borrower.
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">During the three months ended March 31, 2026 and 2025, the Company acquired $441,906 and $675,112 in mortgage loans, respectively.<span style="mso-spacerun:yes"> </span>FSNB services the majority of the Company’s
mortgage loan portfolio.<span style="mso-spacerun:yes"> </span>The Company
pays FSNB a 0.25% servicing fee on these loans and a one-time fee
at loan origination of 0.50% of the original loan cost to cover costs
incurred by FSNB relating to the processing and establishment of the loan. </div><div style="font-size: 10pt; color: #000000;">
</div>
<div style="color: #000000;"> <span style="font-size: 10.0pt;">During 2026 and 2025, the maximum and minimum lending rates for mortgage loans were:</span> </div>
<div style="color: #000000;"> </div>
<table cellpadding="0" style="font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"> </td><td style="width: 9%;"></td><td style="width: 1%;"> </td><td style="width: 1%;"></td><td style="width: 1%;"> </td><td style="width: 9%;"></td><td style="width: 1%;"> </td><td style="width: 1%;"></td><td style="width: 1%;"> </td><td style="width: 9%;"></td><td style="width: 1%;"> </td><td style="width: 1%;"></td><td style="width: 1%;"> </td><td style="width: 9%;"></td><td style="width: 1%;"> </td></tr><tr><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">2026</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">2025</td></tr><tr><td> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Max & Min Lending Rates - B4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Maximum rate</td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Max & Min Lending Rates - B4"> </td><td> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Max & Min Lending Rates - D4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Minimum rate</td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Max & Min Lending Rates - D4"> </td><td> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Max & Min Lending Rates - F4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Maximum rate</td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Max & Min Lending Rates - F4"> </td><td> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Max & Min Lending Rates - H4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Minimum rate</td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Max & Min Lending Rates - H4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Farm Loans</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - B5"> </td><td style="text-align: right; width: 9%;">8.00</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - B5">%</td><td> </td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - D5"> </td><td style="text-align: right; width: 9%;">8.00</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - D5">%</td><td> </td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - F5"> </td><td style="text-align: right; width: 9%;">8.00</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - F5">%</td><td> </td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - H5"> </td><td style="text-align: right; width: 9%;">8.00</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - H5">%</td></tr><tr><td>Commercial Loans</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - B6"> </td><td style="text-align: right; width: 9%;">10.00</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - B6">%</td><td> </td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - D6"> </td><td style="text-align: right; width: 9%;">4.40</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - D6">%</td><td> </td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - F6"> </td><td style="text-align: right; width: 9%;">10.00</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - F6">%</td><td> </td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - H6"> </td><td style="text-align: right; width: 9%;">4.40</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - H6">%</td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Residential Loans</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - B7"> </td><td style="text-align: right; width: 9%;">5.00</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - B7">%</td><td> </td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - D7"> </td><td style="text-align: right; width: 9%;">4.15</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - D7">%</td><td> </td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - F7"> </td><td style="text-align: right; width: 9%;">5.00</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - F7">%</td><td> </td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - H7"> </td><td style="text-align: right; width: 9%;">4.15</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - H7">%</td></tr></table><div style="color: #000000;"> </div><div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">Most mortgage loans are first position loans. Loans issued are generally limited to no more than 80% of the appraised value of the property.</span> </div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">The Company has in place a monitoring system to provide Management with information regarding potential troubled loans. Letters are sent to each mortgagee when the loan becomes 30 days or more delinquent. Management is provided with a monthly listing of loans that are 60 days or more past due. All loans 90 days or more past due are placed on a non-performing status and classified as delinquent loans. Quarterly, coinciding with external financial reporting, the Company reviews each delinquent loan and determines how each delinquent loan should be classified. Management believes the current internal controls surrounding the mortgage loan selection process provide a quality portfolio with minimal risk of foreclosure and/or negative financial impact.</span> </div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">Changes in the current economy could have a negative impact on the loans, including the financial stability of the borrowers, the borrowers’ ability to pay or to refinance, the value of the property held as collateral and the ability to find purchasers at favorable prices. Interest accruals are analyzed based on the likelihood of repayment. In no event will interest continue to accrue when accrued interest along with the outstanding principal exceeds the net realizable value of the property. The Company does not utilize a specified number of days delinquent to cause an automatic non-accrual status.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="color: #000000;"> <span style="font-size: 10.0pt;">The following table summarizes the mortgage loan holdings of the Company:</span> </div>
<div style="color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Mortgage Loan Holdings - B3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Mortgage Loan Holdings - B3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Mortgage Loan Holdings - D3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">December 31, 2025</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Mortgage Loan Holdings - D3"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>In good standing</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Mortgage Loan Holdings - B4">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">13,625,829</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Mortgage Loan Holdings - B4"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Mortgage Loan Holdings - D4">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">14,402,304</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Mortgage Loan Holdings - D4"> </td></tr><tr><td>Total mortgage loans</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Mortgage Loan Holdings - B5">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">13,625,829</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Mortgage Loan Holdings - B5"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Mortgage Loan Holdings - D5">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">14,402,304</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Mortgage Loan Holdings - D5"> </td></tr></table><div style="color: #000000;"> </div><div style="color: #000000;"> <span style="font-size: 10.0pt;">The following is a summary of the mortgage loans outstanding and the related allowance for credit losses:</span> </div>
<div style="color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Mor Loan & Note Rec Outstanding - B3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">March 31, 2026</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Mor Loan & Note Rec Outstanding - B3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Mor Loan & Note Rec Outstanding - D3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">December 31, 2025</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Mor Loan & Note Rec Outstanding - D3"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Farm </td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - B4">$</td><td style="width: 9%; text-align: right;">311,780</td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - B4"> </td><td> </td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - D4">$</td><td style="width: 9%; text-align: right;">311,780</td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - D4"> </td></tr><tr><td>Commercial</td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - B5"> </td><td style="width: 9%; text-align: right;">12,152,977</td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - B5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - D5"> </td><td style="width: 9%; text-align: right;">12,928,334</td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - D5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Residential</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - B6"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">1,371,072</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - B6"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - D6"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">1,382,190</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - D6"> </td></tr><tr><td>Total mortgage loans</td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - B7"> </td><td style="width: 9%; text-align: right;">13,835,829</td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - B7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - D7"> </td><td style="width: 9%; text-align: right;">14,622,304</td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - D7"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Less allowance for credit losses</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - B8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(210,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - B8">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - D8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(220,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - D8">) </td></tr><tr><td>Total mortgage loans, net</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - B9">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">13,625,829</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - B9"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - D9">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">14,402,304</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - D9"> </td></tr></table><div style="color: #000000;"> </div><div style="color: #000000;"> <span style="font-size: 10.0pt;">There were no past due loans as of March 31, 2026 and December 31, 2025.</span> </div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Notes Receivable</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">Notes receivable
represent collateral loans and promissory notes issued by the Company and are
reported at their unpaid principal balances, adjusted for valuation
allowances.<span style="mso-spacerun:yes"> </span>Interest accruals are
analyzed based on the likelihood of repayment. The Company does not
utilize a specified number of days delinquent to cause an automatic non-accrual
status. During the three months ended March 31, 2026 and 2025 the Company acquired $0 and $1,318,133
of notes receivable, respectively.</div><div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;"> </span>
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">Before a new note is issued, the applicant is subject to certain criteria set forth by Company Management to ensure quality control. Once the note is approved, the Company directly funds the note to the borrower. Several of the notes have participation agreements in place, whereas the Company has reduced its investment in the note receivable by participating a portion of the note to a third party.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">Similar to the mortgage loans, FSNB services the notes receivable. The Company, and the participants in the notes, share in the risk of loss associated with the terms of the note with the borrower, based upon their ownership percentage in the note. The Company has in place a monitoring system to provide Management with information regarding potential troubled loans.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="color: #000000;"> <span style="font-size: 10.0pt;">The following is a summary of the notes receivable outstanding and the related allowance for credit losses:</span> </div>
<div style="text-align: justify; color: #000000;"> </div>
<table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Mor Loan & Note Rec Outstanding - B12"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">March 31, 2026</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Mor Loan & Note Rec Outstanding - B12"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Mor Loan & Note Rec Outstanding - D12"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">December 31, 2025</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Mor Loan & Note Rec Outstanding - D12"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Notes receivable</td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - B13">$</td><td style="width: 9%; text-align: right;">8,387,713</td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - B13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - D13">$</td><td style="width: 9%; text-align: right;">8,843,417</td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - D13"> </td></tr><tr><td>Less allowance for credit losses</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - B14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(130,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - B14">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - D14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(135,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - D14">) </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Total notes receivable, net</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - B15">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">8,257,713</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - B15"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - D15">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">8,708,417</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - D15"> </td></tr></table><div style="text-align: justify; color: #000000;"> </div><div style="color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Allowance for Credit Loss - Loans</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The allowance for credit loss ("ACL") is a valuation account that is deducted from the loans' amortized cost basis to present the net amount expected to be collected on the loans. Loans are charged off against the allowance when Management believes the uncollectibility of a loan balance is confirmed. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The ACL represents Management's estimate of lifetime credit losses inherent in loans as of the balance sheet date. The allowance for credit losses is estimated by Management using relevant available information, from both internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The Company measures expected credit losses for loans on a pooled basis when similar risk characteristics exist. The Company has identified the following portfolio segments - mortgage loans on real estate and notes receivable.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The ACL calculation includes subjective adjustments for qualitative risk factors that are likely to cause estimated credit losses to differ from historical experience. These qualitative adjustments may increase or reduce reserve levels and include adjustments for risk tolerance, loan review and audit results, asset quality and portfolio trends, industry concentrations, external factors and economic conditions.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">Loans that do not share risk characteristics are evaluated on an individual basis. When Management determines that foreclosure is probable and the borrower is experiencing financial difficulty, the expected credit losses are based on the fair value of collateral at the reporting date unadjusted for selling costs as appropriate.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Allowance for Credit Loss - Unfunded Commitments</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit issued to meet customer financing needs. The Company's exposure to credit loss in the event of nonperformance by the other party to the financial instrument for off-balance sheet loan commitments is represented by the contractual amount of those instruments. Such financial instruments are recorded when they are funded.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">The
Company records an allowance for credit losses on off-balance sheet credit
exposures, unless the commitments to extend credit are unconditionally
cancelable, through a charge to provision for unfunded commitments in the
Company's income statements. The allowance for credit losses on off-balance
sheet credit exposures is estimated by loan segment at each balance sheet date
under the current expected credit loss model using the same methodologies as
portfolio loans, taking into consideration the likelihood that funding will
occur as well a any third-party guarantees.<span style="mso-bidi-language:EN-US">
The allowance for unfunded commitments as of March
31, 202</span><span style="mso-bidi-language: EN-US">6 and </span><span style="mso-bidi-language:EN-US">December 31, 2025 was $25,000 and $30,000, respectively, and is included in
other liabilities on the Company's Condensed Consolidated Balance Sheets.</span></div><div style="font-size: 10pt; color: #000000;">
</div>
<div style="color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Allowance for Credit Loss - Accrued Interest</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">Accrued interest is not included in the ACL and if deemed uncollectible, it is charged against interest income when determined to be uncollectible.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Allowance for Credit Loss - Summary of Activity</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="color: #000000;"> <span style="font-size: 10.0pt;">The following is a summary of activity related to the allowance for credit loss:</span> </div>
<div style="color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td> </td><td colspan="15" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Allowance For Credit Losses</td></tr><tr><td> </td><td style="width: 1%;" title="Note 3 - Summary of AFCL - B4"> </td><td style="width: 9%; text-align: center;">Mortgage </td><td style="width: 1%;" title="Note 3 - Summary of AFCL - B4"> </td><td> </td><td style="width: 1%;" title="Note 3 - Summary of AFCL - D4"> </td><td style="width: 9%; text-align: center;">Notes </td><td style="width: 1%;" title="Note 3 - Summary of AFCL - D4"> </td><td> </td><td style="width: 1%;" title="Note 3 - Summary of AFCL - F4"> </td><td style="width: 9%; text-align: center;">Unfunded </td><td style="width: 1%;" title="Note 3 - Summary of AFCL - F4"> </td><td> </td><td style="width: 1%;" title="Note 3 - Summary of AFCL - H4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 3 - Summary of AFCL - H4"> </td></tr><tr><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - B5"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Loans</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - B5"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - D5"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Receivable</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - D5"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - F5"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Commitments</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - F5"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - H5"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Total</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - H5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>January 1, 2025</td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - B6">$</td><td style="width: 9%; text-align: right;">235,000</td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - B6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - D6"> </td><td style="width: 9%; text-align: right;">195,000</td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - D6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - F6"> </td><td style="width: 9%; text-align: right;">50,000</td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - F6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - H6">$</td><td style="width: 9%; text-align: right;">480,000</td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - H6"> </td></tr><tr><td>2025 Change in allowance</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - B7"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(15,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - B7">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - D7"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(60,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - D7">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - F7"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(20,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - F7">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - H7"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(95,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - H7">) </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>December 31, 2025</td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - B8"> </td><td style="width: 9%; text-align: right;">220,000</td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - B8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - D8"> </td><td style="width: 9%; text-align: right;">135,000</td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - D8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - F8"> </td><td style="width: 9%; text-align: right;">30,000</td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - F8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - H8"> </td><td style="width: 9%; text-align: right;">385,000</td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - H8"> </td></tr><tr><td>2026 Change in allowance</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - B9"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(10,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - B9">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - D9"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(5,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - D9">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - F9"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(5,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - F9">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - H9"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(20,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - H9">) </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>March 31, 2026</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - B10">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">210,000</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - B10"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - D10"> </td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">130,000</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - D10"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - F10"> </td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">25,000</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - F10"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - H10">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">365,000</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - H10"> </td></tr></table><div style="color: #000000;"> </div><div style="color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Investment Real Estate</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">Real
estate held-for-investment is stated at cost less accumulated depreciation.
Depreciation is computed on a straight-line basis for financial reporting
purposes using estimated useful lives of 3 to 30 years. The Company periodically
reviews its real estate held-for-investment for impairment and tests for
recoverability whenever events or changes in circumstances indicate the
carrying value may not be recoverable. During the three
months ended
<span style="mso-bidi-language:EN-US">March 31, 2026</span>, no impairments were recognized
on the investment real estate. </div><div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">The following table provides an allocation of the Company’s investment real estate by type:</span> </div>
<div style="text-align: justify; color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment Real Estate By Type - B3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">March 31, 2026</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment Real Estate By Type - B3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment Real Estate By Type - D3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">December 31, 2025</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment Real Estate By Type - D3"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Raw land</td><td style="width: 1%; text-align: left;" title="Investment Real Estate By Type - B4">$</td><td style="width: 9%; text-align: right;">16,754,842</td><td style="width: 1%; text-align: left;" title="Investment Real Estate By Type - B4"> </td><td> </td><td style="width: 1%; text-align: left;" title="Investment Real Estate By Type - D4">$</td><td style="width: 9%; text-align: right;">16,754,842</td><td style="width: 1%; text-align: left;" title="Investment Real Estate By Type - D4"> </td></tr><tr><td>Commercial</td><td style="width: 1%; text-align: left;" title="Investment Real Estate By Type - B5"> </td><td style="width: 9%; text-align: right;">6,200,264</td><td style="width: 1%; text-align: left;" title="Investment Real Estate By Type - B5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Investment Real Estate By Type - D5"> </td><td style="width: 9%; text-align: right;">6,245,872</td><td style="width: 1%; text-align: left;" title="Investment Real Estate By Type - D5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Residential</td><td style="width: 1%; text-align: left;" title="Investment Real Estate By Type - B6"> </td><td style="width: 9%; text-align: right;">1,889,084</td><td style="width: 1%; text-align: left;" title="Investment Real Estate By Type - B6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Investment Real Estate By Type - D6"> </td><td style="width: 9%; text-align: right;">1,897,744</td><td style="width: 1%; text-align: left;" title="Investment Real Estate By Type - D6"> </td></tr><tr><td>Land, minerals and royalty interests</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment Real Estate By Type - B7"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">7,749,062</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment Real Estate By Type - B7"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment Real Estate By Type - D7"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">8,189,241</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment Real Estate By Type - D7"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Total investment real estate</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment Real Estate By Type - B8">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">32,593,252</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment Real Estate By Type - B8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment Real Estate By Type - D8">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">33,087,699</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment Real Estate By Type - D8"> </td></tr></table><div style="text-align: justify; color: #000000;"> </div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">The Company’s
investment real estate portfolio includes ownership in oil and gas royalties.
As of March 31, 2026 and December 31, 2025, investments in oil and gas royalties
represented 29% and 30%, respectively, of the total investment real
estate portfolio.<span style="mso-spacerun:yes"> </span>See Note 10 –
Concentrations of the Condensed Consolidated Financial Statements for
additional information regarding the allocation of the oil and gas investment
real estate holdings by industry type.</div><div style="font-size: 10pt; color: #000000;">
</div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">Gains and losses
recognized on the disposition of the properties are recorded as realized gains
and losses in the Condensed Consolidated Statements of Operations. During the three months ended March 31, 2026 and 2025, the Company acquired $0 and $465,800 of
investment real estate, respectively.</div><div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Short-Term Investments</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">Short-term investments have remaining maturities exceeding three months and under 12 months at the time of purchase and are stated at amortized cost, which approximates fair value. The short-term investments consist of United States Treasury securities.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">During the three
months ended March 31, 2026 and 2025, the Company acquired $0 of short-term investments, respectively.</div><div style="color: #000000;">
</div>
<div style="color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Net Investment Gains (Losses)</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="color: #000000;"> <span style="font-size: 10.0pt;">The following table presents net investment gains (losses) and the change in net unrealized gains on available-for-sale investments. </span> </div>
<div style="font-size: 10pt; color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td colspan="7" style="text-align: center;">Three Months Ended</td></tr><tr><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31,</td></tr><tr><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Net Investment Gain (Loss) - B6"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">2026</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Net Investment Gain (Loss) - B6"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Net Investment Gain (Loss) - D6"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">2025</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Net Investment Gain (Loss) - D6"> </td></tr><tr><td>Realized gains:</td><td style="width: 1%;" title="Net Investment Gain (Loss) - B7"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Net Investment Gain (Loss) - B7"> </td><td> </td><td style="width: 1%;" title="Net Investment Gain (Loss) - D7"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Net Investment Gain (Loss) - D7"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="padding-left: 10px;">Sales of fixed maturities</td><td style="width: 1%; text-align: left;" title="Net Investment Gain (Loss) - B8">$</td><td style="width: 9%; text-align: right;">42,178</td><td style="width: 1%; text-align: left;" title="Net Investment Gain (Loss) - B8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Net Investment Gain (Loss) - D8">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Net Investment Gain (Loss) - D8"> </td></tr><tr><td style="padding-left: 10px;">Sales of equity securities </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B9"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">3,506,615</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B9"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D9"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">975,769</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D9"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="padding-left: 10px;">Total realized gains</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B12"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">3,548,793</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B12"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D12"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">975,769</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D12"> </td></tr><tr><td>Realized losses:</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B13"> </td><td style="width: 9%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B13"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D13"> </td><td style="width: 9%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D13"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="padding-left: 10px;">Total realized losses</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B15"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">0</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B15"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D15"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">0</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D15"> </td></tr><tr><td style="padding-left: 20px;">Net realized investment gains</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B16"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">3,548,793</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B16"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D16"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">975,769</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D16"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Change in fair value of equity securities:</td><td style="width: 1%;" title="Net Investment Gain (Loss) - B17"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Net Investment Gain (Loss) - B17"> </td><td> </td><td style="width: 1%;" title="Net Investment Gain (Loss) - D17"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Net Investment Gain (Loss) - D17"> </td></tr><tr><td style="text-indent: -10px; padding-left: 20px;">Change in fair value of equity securities held at the end of the period</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B18"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">28,213,466</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B18"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D18"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">16,290,482</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D18"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="padding-left: 10px;">Change in fair value of equity securities </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B19"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">28,213,466</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B19"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D19"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">16,290,482</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D19"> </td></tr><tr><td style="padding-left: 10px;">Net investment gains</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B20">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">31,762,259</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B20"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D20">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">17,266,251</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D20"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="text-indent: -10px; padding-left: 10px;">Change in net unrealized gains (losses) on available-for-sale investments included in other comprehensive income:</td><td style="width: 1%;" title="Net Investment Gain (Loss) - B21"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Net Investment Gain (Loss) - B21"> </td><td> </td><td style="width: 1%;" title="Net Investment Gain (Loss) - D21"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Net Investment Gain (Loss) - D21"> </td></tr><tr><td style="padding-left: 10px;">Fixed maturities</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B22">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(415,310</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B22">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D22">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">922,207</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D22"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="padding-left: 10px;">Net increase (decrease)</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B23">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">(415,310</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B23">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D23">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">922,207</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D23"> </td></tr></table>
<div style="color: #000000;"> <span style="font-size: 10.0pt;">Investments in fixed maturity securities are summarized by type as follows:</span> </div>
<div style="font-size: 10pt; color: #000000;">
</div>
<table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td> </td><td style="width: 1%;" title="Investment in FMS - C2"> </td><td style="text-align: center; width: 9%;">Original or Amortized</td><td style="width: 1%;" title="Investment in FMS - C2"> </td><td> </td><td style="width: 1%;" title="Investment in FMS - E2"> </td><td style="text-align: center; width: 9%;">Gross Unrealized</td><td style="width: 1%;" title="Investment in FMS - E2"> </td><td> </td><td style="width: 1%;" title="Investment in FMS - G2"> </td><td style="text-align: center; width: 9%;">Gross Unrealized</td><td style="width: 1%;" title="Investment in FMS - G2"> </td><td> </td><td style="width: 1%;" title="Investment in FMS - I2"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Investment in FMS - I2"> </td></tr><tr><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - C3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Cost</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - C3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - E3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;"> Gains</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - E3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - G3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;"> Losses</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - G3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - I3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Fair Value</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - I3"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>U.S. Government and govt. agencies and authorities</td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - C4">$</td><td style="width: 9%; text-align: right;">22,843,918</td><td style="width: 1%; text-align: left;" title="Investment in FMS - C4"> </td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - E4">$</td><td style="width: 9%; text-align: right;">23,851</td><td style="width: 1%; text-align: left;" title="Investment in FMS - E4"> </td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - G4">$</td><td style="width: 9%; text-align: right;">(159,801</td><td style="width: 1%; text-align: left;" title="Investment in FMS - G4">) </td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - I4">$</td><td style="width: 9%; text-align: right;">22,707,968</td><td style="width: 1%; text-align: left;" title="Investment in FMS - I4"> </td></tr><tr><td>U.S. special revenue and assessments</td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - C5"> </td><td style="width: 9%; text-align: right;">7,514,694</td><td style="width: 1%; text-align: left;" title="Investment in FMS - C5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - E5"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Investment in FMS - E5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - G5"> </td><td style="width: 9%; text-align: right;">(99,155</td><td style="width: 1%; text-align: left;" title="Investment in FMS - G5">) </td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - I5"> </td><td style="width: 9%; text-align: right;">7,415,539</td><td style="width: 1%; text-align: left;" title="Investment in FMS - I5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>All other corporate bonds</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - C6"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">43,972,364</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - C6"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - E6"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">89,444</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - E6"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - G6"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(2,011,050</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - G6">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - I6"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">42,050,758</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - I6"> </td></tr><tr><td>Total fixed maturities, at fair value</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - C7">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">74,330,976</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - C7"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - E7">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">113,295</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - E7"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - G7">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">(2,270,006</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - G7">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - I7">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">72,174,265</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - I7"> </td></tr></table><div style="color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td> </td><td style="width: 1%;" title="Investment in FMS - C12"> </td><td style="text-align: center; width: 9%;">Original or Amortized</td><td style="width: 1%;" title="Investment in FMS - C12"> </td><td> </td><td style="width: 1%;" title="Investment in FMS - E12"> </td><td style="text-align: center; width: 9%;">Gross Unrealized</td><td style="width: 1%;" title="Investment in FMS - E12"> </td><td> </td><td style="width: 1%;" title="Investment in FMS - G12"> </td><td style="text-align: center; width: 9%;">Gross Unrealized</td><td style="width: 1%;" title="Investment in FMS - G12"> </td><td> </td><td style="width: 1%;" title="Investment in FMS - I12"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Investment in FMS - I12"> </td></tr><tr><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">December 31, 2025</td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - C13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Cost</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - C13"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - E13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;"> Gains</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - E13"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - G13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;"> Losses</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - G13"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - I13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Fair Value</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment in FMS - I13"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>U.S. Government and govt. agencies and authorities</td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - C14">$</td><td style="width: 9%; text-align: right;">22,839,422</td><td style="width: 1%; text-align: left;" title="Investment in FMS - C14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - E14">$</td><td style="width: 9%; text-align: right;">60,190</td><td style="width: 1%; text-align: left;" title="Investment in FMS - E14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - G14">$</td><td style="width: 9%; text-align: right;">(148,886</td><td style="width: 1%; text-align: left;" title="Investment in FMS - G14">) </td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - I14">$</td><td style="width: 9%; text-align: right;">22,750,726</td><td style="width: 1%; text-align: left;" title="Investment in FMS - I14"> </td></tr><tr><td>U.S. special revenue and assessments</td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - C15"> </td><td style="width: 9%; text-align: right;">7,516,321</td><td style="width: 1%; text-align: left;" title="Investment in FMS - C15"> </td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - E15"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Investment in FMS - E15"> </td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - G15"> </td><td style="width: 9%; text-align: right;">(62,399</td><td style="width: 1%; text-align: left;" title="Investment in FMS - G15">) </td><td> </td><td style="width: 1%; text-align: left;" title="Investment in FMS - I15"> </td><td style="width: 9%; text-align: right;">7,453,922</td><td style="width: 1%; text-align: left;" title="Investment in FMS - I15"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>All other corporate bonds</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - C16"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">44,545,247</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - C16"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - E16"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">148,195</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - E16"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - G16"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(1,738,501</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - G16">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - I16"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">42,954,941</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - I16"> </td></tr><tr><td>Total fixed maturities, at fair value</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - C17">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">74,900,990</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - C17"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - E17">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">208,385</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - E17"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - G17">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">(1,949,786</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - G17">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - I17">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">73,159,589</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment in FMS - I17"> </td></tr></table>
22843918
23851
159801
22707968
7514694
0
99155
7415539
43972364
89444
2011050
42050758
74330976
113295
2270006
72174265
22839422
60190
148886
22750726
7516321
0
62399
7453922
44545247
148195
1738501
42954941
74900990
208385
1949786
73159589
The amortized cost and estimated market value of fixed maturity securities at March 31, 2026, by contractual maturity, is shown below<table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Amortized cost & FV of FMS - C4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Amortized Cost</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Amortized cost & FV of FMS - C4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Amortized cost & FV of FMS - E4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Fair Value</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Amortized cost & FV of FMS - E4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Due in one year or less</td><td> </td><td style="width: 1%; text-align: left;" title="Amortized cost & FV of FMS - C5">$</td><td style="width: 9%; text-align: right;">26,613,198</td><td style="width: 1%; text-align: left;" title="Amortized cost & FV of FMS - C5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Amortized cost & FV of FMS - E5">$</td><td style="width: 9%; text-align: right;">26,514,612</td><td style="width: 1%; text-align: left;" title="Amortized cost & FV of FMS - E5"> </td></tr><tr><td>Due after one year through five years</td><td> </td><td style="width: 1%; text-align: left;" title="Amortized cost & FV of FMS - C6"> </td><td style="width: 9%; text-align: right;">25,184,612</td><td style="width: 1%; text-align: left;" title="Amortized cost & FV of FMS - C6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Amortized cost & FV of FMS - E6"> </td><td style="width: 9%; text-align: right;">25,021,098</td><td style="width: 1%; text-align: left;" title="Amortized cost & FV of FMS - E6"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Due after five years through ten years</td><td> </td><td style="width: 1%; text-align: left;" title="Amortized cost & FV of FMS - C7"> </td><td style="width: 9%; text-align: right;">7,960,994</td><td style="width: 1%; text-align: left;" title="Amortized cost & FV of FMS - C7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Amortized cost & FV of FMS - E7"> </td><td style="width: 9%; text-align: right;">7,498,425</td><td style="width: 1%; text-align: left;" title="Amortized cost & FV of FMS - E7"> </td></tr><tr><td>Due after ten years</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Amortized cost & FV of FMS - C8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">14,572,172</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Amortized cost & FV of FMS - C8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Amortized cost & FV of FMS - E8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">13,140,130</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Amortized cost & FV of FMS - E8"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Total</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Amortized cost & FV of FMS - C9">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">74,330,976</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Amortized cost & FV of FMS - C9"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Amortized cost & FV of FMS - E9">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">72,174,265</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Amortized cost & FV of FMS - E9"> </td></tr></table>
26613198
26514612
25184612
25021098
7960994
7498425
14572172
13140130
74330976
72174265
0
0
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">The following tables present the estimated fair value and gross unrealized losses of fixed maturity securities in an unrealized loss position:</span> </div>
<div style="color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Less than 12 months</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">12 months or longer</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Total</td></tr><tr><td> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="FV & Unrealized Losses of FMS - C5"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Fair value</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="FV & Unrealized Losses of FMS - C5"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="FV & Unrealized Losses of FMS - E5"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Unrealized losses</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="FV & Unrealized Losses of FMS - E5"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="FV & Unrealized Losses of FMS - G5"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Fair value</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="FV & Unrealized Losses of FMS - G5"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="FV & Unrealized Losses of FMS - I5"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Unrealized losses</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="FV & Unrealized Losses of FMS - I5"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="FV & Unrealized Losses of FMS - K5"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Fair value</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="FV & Unrealized Losses of FMS - K5"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="FV & Unrealized Losses of FMS - M5"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Unrealized losses</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="FV & Unrealized Losses of FMS - M5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>U.S. Government and govt. agencies and authorities</td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - C6">$</td><td style="width: 9%; text-align: right;">5,667,112</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - C6"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - E6">$</td><td style="width: 9%; text-align: right;">(36,513</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - E6">) </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - G6">$</td><td style="width: 9%; text-align: right;">6,987,201</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - G6"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - I6">$</td><td style="width: 9%; text-align: right;">(123,288</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - I6">) </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - K6">$</td><td style="width: 9%; text-align: right;">12,654,313</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - K6"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - M6">$</td><td style="width: 9%; text-align: right;">(159,801</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - M6">) </td></tr><tr><td>U.S. special revenue and assessments</td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - C7"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - C7"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - E7"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - E7"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - G7"> </td><td style="width: 9%; text-align: right;">7,415,539</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - G7"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - I7"> </td><td style="width: 9%; text-align: right;">(99,155</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - I7">) </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - K7"> </td><td style="width: 9%; text-align: right;">7,415,539</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - K7"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - M7"> </td><td style="width: 9%; text-align: right;">(99,155</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - M7">) </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>All other corporate bonds</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - C8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">2,059,175</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - C8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - E8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(13,172</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - E8">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - G8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">33,390,720</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - G8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - I8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(1,997,878</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - I8">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - K8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">35,449,895</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - K8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - M8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(2,011,050</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - M8">) </td></tr><tr><td>Total fixed maturities</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - C9">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">7,726,287</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - C9"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - E9">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">(49,685</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - E9">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - G9">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">47,793,460</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - G9"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - I9">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">(2,220,321</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - I9">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - K9">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">55,519,747</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - K9"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - M9">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">(2,270,006</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - M9">) </td></tr></table><div style="color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">December 31, 2025</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Less than 12 months</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">12 months or longer</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Total</td></tr><tr><td> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - C13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Fair value</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - C13"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - E13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Unrealized losses</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - E13"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - G13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Fair value</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - G13"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - I13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Unrealized losses</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - I13"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - K13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Fair value</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - K13"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - M13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Unrealized losses</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - M13"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>U.S. Government and govt. agencies and authorities</td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - C14">$</td><td style="width: 9%; text-align: right;">996,280</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - C14"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - E14">$</td><td style="width: 9%; text-align: right;">(2,040</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - E14">) </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - G14">$</td><td style="width: 9%; text-align: right;">8,663,797</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - G14"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - I14">$</td><td style="width: 9%; text-align: right;">(146,846</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - I14">) </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - K14">$</td><td style="width: 9%; text-align: right;">9,660,077</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - K14"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - M14">$</td><td style="width: 9%; text-align: right;">(148,886</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - M14">) </td></tr><tr><td>U.S. special revenue and assessments</td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - C15"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - C15"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - E15"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - E15"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - G15"> </td><td style="width: 9%; text-align: right;">7,453,922</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - G15"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - I15"> </td><td style="width: 9%; text-align: right;">(62,399</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - I15">) </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - K15"> </td><td style="width: 9%; text-align: right;">7,453,922</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - K15"> </td><td> </td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - M15"> </td><td style="width: 9%; text-align: right;">(62,399</td><td style="width: 1%; text-align: left;" title="FV & Unrealized Losses of FMS - M15">) </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>All other corporate bonds</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - C16"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">0</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - C16"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - E16"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">0</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - E16"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - G16"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">34,265,250</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - G16"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - I16"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(1,738,501</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - I16">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - K16"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">34,265,250</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - K16"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - M16"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(1,738,501</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - M16">) </td></tr><tr><td>Total fixed maturities</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - C17">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">996,280</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - C17"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - E17">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">(2,040</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - E17">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - G17">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">50,382,969</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - G17"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - I17">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">(1,947,746</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - I17">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - K17">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">51,379,249</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - K17"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - M17">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">(1,949,786</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="FV & Unrealized Losses of FMS - M17">) </td></tr></table>
5667112
36513
6987201
123288
12654313
159801
0
0
7415539
99155
7415539
99155
2059175
13172
33390720
1997878
35449895
2011050
7726287
49685
47793460
2220321
55519747
2270006
996280
2040
8663797
146846
9660077
148886
0
0
7453922
62399
7453922
62399
0
0
34265250
1738501
34265250
1738501
996280
2040
50382969
1947746
51379249
1949786
<div style="color: #000000;"> <span style="font-size: 10.0pt;">Additional information regarding investments in an unrealized loss position is as follows:</span> </div>
<div style="text-align: justify; color: #000000;"> </div>
<table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Inv in Unrealized Loss Position - B3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Less than 12 months</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Inv in Unrealized Loss Position - B3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Inv in Unrealized Loss Position - D3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">12 months or longer</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Inv in Unrealized Loss Position - D3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Inv in Unrealized Loss Position - F3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Total</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Inv in Unrealized Loss Position - F3"> </td></tr><tr><td>As of March 31, 2026</td><td style="width: 1%;" title="Inv in Unrealized Loss Position - B4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Inv in Unrealized Loss Position - B4"> </td><td> </td><td style="width: 1%;" title="Inv in Unrealized Loss Position - D4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Inv in Unrealized Loss Position - D4"> </td><td> </td><td style="width: 1%;" title="Inv in Unrealized Loss Position - F4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Inv in Unrealized Loss Position - F4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="padding-left: 20px;"> Fixed maturities</td><td style="width: 1%; text-align: left;" title="Inv in Unrealized Loss Position - B5"> </td><td style="width: 9%; text-align: right;">6</td><td style="width: 1%; text-align: left;" title="Inv in Unrealized Loss Position - B5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Inv in Unrealized Loss Position - D5"> </td><td style="width: 9%; text-align: right;">27</td><td style="width: 1%; text-align: left;" title="Inv in Unrealized Loss Position - D5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Inv in Unrealized Loss Position - F5"> </td><td style="width: 9%; text-align: right;">33</td><td style="width: 1%; text-align: left;" title="Inv in Unrealized Loss Position - F5"> </td></tr><tr><td>As of December 31, 2025</td><td style="width: 1%;" title="Inv in Unrealized Loss Position - B6"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Inv in Unrealized Loss Position - B6"> </td><td> </td><td style="width: 1%;" title="Inv in Unrealized Loss Position - D6"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Inv in Unrealized Loss Position - D6"> </td><td> </td><td style="width: 1%;" title="Inv in Unrealized Loss Position - F6"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Inv in Unrealized Loss Position - F6"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="padding-left: 20px;"> Fixed maturities</td><td style="width: 1%; text-align: left;" title="Inv in Unrealized Loss Position - B7"> </td><td style="width: 9%; text-align: right;">1</td><td style="width: 1%; text-align: left;" title="Inv in Unrealized Loss Position - B7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Inv in Unrealized Loss Position - D7"> </td><td style="width: 9%; text-align: right;">29</td><td style="width: 1%; text-align: left;" title="Inv in Unrealized Loss Position - D7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Inv in Unrealized Loss Position - F7"> </td><td style="width: 9%; text-align: right;">30</td><td style="width: 1%; text-align: left;" title="Inv in Unrealized Loss Position - F7"> </td></tr></table>
6
27
33
1
29
30
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">Net unrealized losses included in accumulated other comprehensive income (loss) for investments classified as available-for-sale, net of the effect of deferred income taxes, assuming that the depreciation had been realized as of March 31, 2026 and December 31, 2025:</span> </div>
<div style="text-align: justify; font-size: 10pt; color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Unrealized Losses in AOCI - B3"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 9%;">March 31, 2026</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Unrealized Losses in AOCI - B3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Unrealized Losses in AOCI - D3"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 9%;">December 31, 2025</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Unrealized Losses in AOCI - D3"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Unrealized appreciation (depreciation) on available-for-sale securities</td><td style="text-align: left; width: 1%;" title="Unrealized Losses in AOCI - B4">$</td><td style="text-align: right; width: 9%;">(2,156,711</td><td style="text-align: left; width: 1%;" title="Unrealized Losses in AOCI - B4">) </td><td> </td><td style="text-align: left; width: 1%;" title="Unrealized Losses in AOCI - D4">$</td><td style="text-align: right; width: 9%;">(1,741,400</td><td style="text-align: left; width: 1%;" title="Unrealized Losses in AOCI - D4">) </td></tr><tr><td>Deferred income taxes</td><td style="text-align: left; width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Unrealized Losses in AOCI - B5"> </td><td style="text-align: right; width: 9%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">452,909</td><td style="text-align: left; width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Unrealized Losses in AOCI - B5"> </td><td> </td><td style="text-align: left; width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Unrealized Losses in AOCI - D5"> </td><td style="text-align: right; width: 9%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">365,693</td><td style="text-align: left; width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Unrealized Losses in AOCI - D5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Net unrealized appreciation (depreciation) on available-for-sale securities</td><td style="text-align: left; width: 1%; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Unrealized Losses in AOCI - B6">$</td><td style="text-align: right; width: 9%; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">(1,703,802</td><td style="text-align: left; width: 1%; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Unrealized Losses in AOCI - B6">) </td><td> </td><td style="text-align: left; width: 1%; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Unrealized Losses in AOCI - D6">$</td><td style="text-align: right; width: 9%; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">(1,375,707</td><td style="text-align: left; width: 1%; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Unrealized Losses in AOCI - D6">) </td></tr></table>
-2156711
-1741400
-452909
-365693
-1703802
-1375707
13664543
20510250
441906
675112
0.0025
0.005
<div style="color: #000000;"> <span style="font-size: 10.0pt;">During 2026 and 2025, the maximum and minimum lending rates for mortgage loans were:</span> </div>
<div style="color: #000000;"> </div>
<table cellpadding="0" style="font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"> </td><td style="width: 9%;"></td><td style="width: 1%;"> </td><td style="width: 1%;"></td><td style="width: 1%;"> </td><td style="width: 9%;"></td><td style="width: 1%;"> </td><td style="width: 1%;"></td><td style="width: 1%;"> </td><td style="width: 9%;"></td><td style="width: 1%;"> </td><td style="width: 1%;"></td><td style="width: 1%;"> </td><td style="width: 9%;"></td><td style="width: 1%;"> </td></tr><tr><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">2026</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">2025</td></tr><tr><td> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Max & Min Lending Rates - B4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Maximum rate</td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Max & Min Lending Rates - B4"> </td><td> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Max & Min Lending Rates - D4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Minimum rate</td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Max & Min Lending Rates - D4"> </td><td> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Max & Min Lending Rates - F4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Maximum rate</td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Max & Min Lending Rates - F4"> </td><td> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Max & Min Lending Rates - H4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Minimum rate</td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Max & Min Lending Rates - H4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Farm Loans</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - B5"> </td><td style="text-align: right; width: 9%;">8.00</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - B5">%</td><td> </td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - D5"> </td><td style="text-align: right; width: 9%;">8.00</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - D5">%</td><td> </td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - F5"> </td><td style="text-align: right; width: 9%;">8.00</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - F5">%</td><td> </td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - H5"> </td><td style="text-align: right; width: 9%;">8.00</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - H5">%</td></tr><tr><td>Commercial Loans</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - B6"> </td><td style="text-align: right; width: 9%;">10.00</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - B6">%</td><td> </td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - D6"> </td><td style="text-align: right; width: 9%;">4.40</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - D6">%</td><td> </td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - F6"> </td><td style="text-align: right; width: 9%;">10.00</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - F6">%</td><td> </td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - H6"> </td><td style="text-align: right; width: 9%;">4.40</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - H6">%</td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Residential Loans</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - B7"> </td><td style="text-align: right; width: 9%;">5.00</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - B7">%</td><td> </td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - D7"> </td><td style="text-align: right; width: 9%;">4.15</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - D7">%</td><td> </td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - F7"> </td><td style="text-align: right; width: 9%;">5.00</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - F7">%</td><td> </td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - H7"> </td><td style="text-align: right; width: 9%;">4.15</td><td style="text-align: left; width: 1%;" title="Max & Min Lending Rates - H7">%</td></tr></table>
0.08
0.08
0.08
0.08
0.10
0.044
0.10
0.044
0.05
0.0415
0.05
0.0415
0.80
P30D
P60D
P90D
<div style="color: #000000;"> <span style="font-size: 10.0pt;">The following table summarizes the mortgage loan holdings of the Company:</span> </div>
<div style="color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Mortgage Loan Holdings - B3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Mortgage Loan Holdings - B3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Mortgage Loan Holdings - D3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">December 31, 2025</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Mortgage Loan Holdings - D3"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>In good standing</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Mortgage Loan Holdings - B4">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">13,625,829</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Mortgage Loan Holdings - B4"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Mortgage Loan Holdings - D4">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">14,402,304</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Mortgage Loan Holdings - D4"> </td></tr><tr><td>Total mortgage loans</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Mortgage Loan Holdings - B5">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">13,625,829</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Mortgage Loan Holdings - B5"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Mortgage Loan Holdings - D5">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">14,402,304</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Mortgage Loan Holdings - D5"> </td></tr></table>
13625829
14402304
13625829
14402304
<div style="color: #000000;"> <span style="font-size: 10.0pt;">The following is a summary of the mortgage loans outstanding and the related allowance for credit losses:</span> </div>
<div style="color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Mor Loan & Note Rec Outstanding - B3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">March 31, 2026</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Mor Loan & Note Rec Outstanding - B3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Mor Loan & Note Rec Outstanding - D3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">December 31, 2025</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Mor Loan & Note Rec Outstanding - D3"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Farm </td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - B4">$</td><td style="width: 9%; text-align: right;">311,780</td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - B4"> </td><td> </td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - D4">$</td><td style="width: 9%; text-align: right;">311,780</td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - D4"> </td></tr><tr><td>Commercial</td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - B5"> </td><td style="width: 9%; text-align: right;">12,152,977</td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - B5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - D5"> </td><td style="width: 9%; text-align: right;">12,928,334</td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - D5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Residential</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - B6"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">1,371,072</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - B6"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - D6"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">1,382,190</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - D6"> </td></tr><tr><td>Total mortgage loans</td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - B7"> </td><td style="width: 9%; text-align: right;">13,835,829</td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - B7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - D7"> </td><td style="width: 9%; text-align: right;">14,622,304</td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - D7"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Less allowance for credit losses</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - B8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(210,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - B8">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - D8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(220,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - D8">) </td></tr><tr><td>Total mortgage loans, net</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - B9">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">13,625,829</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - B9"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - D9">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">14,402,304</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - D9"> </td></tr></table>
311780
311780
12152977
12928334
1371072
1382190
13835829
14622304
210000
220000
13625829
14402304
0
0
0
1318133
<div style="color: #000000;"> <span style="font-size: 10.0pt;">The following is a summary of the notes receivable outstanding and the related allowance for credit losses:</span> </div>
<div style="text-align: justify; color: #000000;"> </div>
<table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Mor Loan & Note Rec Outstanding - B12"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">March 31, 2026</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Mor Loan & Note Rec Outstanding - B12"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Mor Loan & Note Rec Outstanding - D12"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">December 31, 2025</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Mor Loan & Note Rec Outstanding - D12"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Notes receivable</td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - B13">$</td><td style="width: 9%; text-align: right;">8,387,713</td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - B13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - D13">$</td><td style="width: 9%; text-align: right;">8,843,417</td><td style="width: 1%; text-align: left;" title="Mor Loan & Note Rec Outstanding - D13"> </td></tr><tr><td>Less allowance for credit losses</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - B14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(130,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - B14">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - D14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(135,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - D14">) </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Total notes receivable, net</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - B15">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">8,257,713</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - B15"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - D15">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">8,708,417</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Mor Loan & Note Rec Outstanding - D15"> </td></tr></table>
8387713
8843417
130000
135000
8257713
8708417
25000
30000
<div style="color: #000000;"> <span style="font-size: 10.0pt;">The following is a summary of activity related to the allowance for credit loss:</span> </div>
<div style="color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td> </td><td colspan="15" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Allowance For Credit Losses</td></tr><tr><td> </td><td style="width: 1%;" title="Note 3 - Summary of AFCL - B4"> </td><td style="width: 9%; text-align: center;">Mortgage </td><td style="width: 1%;" title="Note 3 - Summary of AFCL - B4"> </td><td> </td><td style="width: 1%;" title="Note 3 - Summary of AFCL - D4"> </td><td style="width: 9%; text-align: center;">Notes </td><td style="width: 1%;" title="Note 3 - Summary of AFCL - D4"> </td><td> </td><td style="width: 1%;" title="Note 3 - Summary of AFCL - F4"> </td><td style="width: 9%; text-align: center;">Unfunded </td><td style="width: 1%;" title="Note 3 - Summary of AFCL - F4"> </td><td> </td><td style="width: 1%;" title="Note 3 - Summary of AFCL - H4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 3 - Summary of AFCL - H4"> </td></tr><tr><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - B5"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Loans</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - B5"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - D5"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Receivable</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - D5"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - F5"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Commitments</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - F5"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - H5"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Total</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - H5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>January 1, 2025</td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - B6">$</td><td style="width: 9%; text-align: right;">235,000</td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - B6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - D6"> </td><td style="width: 9%; text-align: right;">195,000</td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - D6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - F6"> </td><td style="width: 9%; text-align: right;">50,000</td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - F6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - H6">$</td><td style="width: 9%; text-align: right;">480,000</td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - H6"> </td></tr><tr><td>2025 Change in allowance</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - B7"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(15,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - B7">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - D7"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(60,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - D7">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - F7"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(20,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - F7">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - H7"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(95,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - H7">) </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>December 31, 2025</td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - B8"> </td><td style="width: 9%; text-align: right;">220,000</td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - B8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - D8"> </td><td style="width: 9%; text-align: right;">135,000</td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - D8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - F8"> </td><td style="width: 9%; text-align: right;">30,000</td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - F8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - H8"> </td><td style="width: 9%; text-align: right;">385,000</td><td style="width: 1%; text-align: left;" title="Note 3 - Summary of AFCL - H8"> </td></tr><tr><td>2026 Change in allowance</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - B9"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(10,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - B9">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - D9"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(5,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - D9">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - F9"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(5,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - F9">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - H9"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(20,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - H9">) </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>March 31, 2026</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - B10">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">210,000</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - B10"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - D10"> </td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">130,000</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - D10"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - F10"> </td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">25,000</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - F10"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - H10">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">365,000</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 3 - Summary of AFCL - H10"> </td></tr></table>
235000
195000
50000
480000
-15000
-60000
-20000
-95000
220000
135000
30000
385000
-10000
-5000
-5000
-20000
210000
130000
25000
365000
P3Y
P30Y
0
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">The following table provides an allocation of the Company’s investment real estate by type:</span> </div>
<div style="text-align: justify; color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment Real Estate By Type - B3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">March 31, 2026</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment Real Estate By Type - B3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment Real Estate By Type - D3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">December 31, 2025</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Investment Real Estate By Type - D3"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Raw land</td><td style="width: 1%; text-align: left;" title="Investment Real Estate By Type - B4">$</td><td style="width: 9%; text-align: right;">16,754,842</td><td style="width: 1%; text-align: left;" title="Investment Real Estate By Type - B4"> </td><td> </td><td style="width: 1%; text-align: left;" title="Investment Real Estate By Type - D4">$</td><td style="width: 9%; text-align: right;">16,754,842</td><td style="width: 1%; text-align: left;" title="Investment Real Estate By Type - D4"> </td></tr><tr><td>Commercial</td><td style="width: 1%; text-align: left;" title="Investment Real Estate By Type - B5"> </td><td style="width: 9%; text-align: right;">6,200,264</td><td style="width: 1%; text-align: left;" title="Investment Real Estate By Type - B5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Investment Real Estate By Type - D5"> </td><td style="width: 9%; text-align: right;">6,245,872</td><td style="width: 1%; text-align: left;" title="Investment Real Estate By Type - D5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Residential</td><td style="width: 1%; text-align: left;" title="Investment Real Estate By Type - B6"> </td><td style="width: 9%; text-align: right;">1,889,084</td><td style="width: 1%; text-align: left;" title="Investment Real Estate By Type - B6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Investment Real Estate By Type - D6"> </td><td style="width: 9%; text-align: right;">1,897,744</td><td style="width: 1%; text-align: left;" title="Investment Real Estate By Type - D6"> </td></tr><tr><td>Land, minerals and royalty interests</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment Real Estate By Type - B7"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">7,749,062</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment Real Estate By Type - B7"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment Real Estate By Type - D7"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">8,189,241</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment Real Estate By Type - D7"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Total investment real estate</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment Real Estate By Type - B8">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">32,593,252</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment Real Estate By Type - B8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment Real Estate By Type - D8">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">33,087,699</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Investment Real Estate By Type - D8"> </td></tr></table>
16754842
16754842
6200264
6245872
1889084
1897744
7749062
8189241
32593252
33087699
0.29
0.30
0
465800
0
0
<div style="color: #000000;"> <span style="font-size: 10.0pt;">The following table presents net investment gains (losses) and the change in net unrealized gains on available-for-sale investments. </span> </div>
<div style="font-size: 10pt; color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td colspan="7" style="text-align: center;">Three Months Ended</td></tr><tr><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31,</td></tr><tr><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Net Investment Gain (Loss) - B6"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">2026</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Net Investment Gain (Loss) - B6"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Net Investment Gain (Loss) - D6"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">2025</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Net Investment Gain (Loss) - D6"> </td></tr><tr><td>Realized gains:</td><td style="width: 1%;" title="Net Investment Gain (Loss) - B7"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Net Investment Gain (Loss) - B7"> </td><td> </td><td style="width: 1%;" title="Net Investment Gain (Loss) - D7"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Net Investment Gain (Loss) - D7"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="padding-left: 10px;">Sales of fixed maturities</td><td style="width: 1%; text-align: left;" title="Net Investment Gain (Loss) - B8">$</td><td style="width: 9%; text-align: right;">42,178</td><td style="width: 1%; text-align: left;" title="Net Investment Gain (Loss) - B8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Net Investment Gain (Loss) - D8">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Net Investment Gain (Loss) - D8"> </td></tr><tr><td style="padding-left: 10px;">Sales of equity securities </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B9"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">3,506,615</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B9"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D9"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">975,769</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D9"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="padding-left: 10px;">Total realized gains</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B12"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">3,548,793</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B12"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D12"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">975,769</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D12"> </td></tr><tr><td>Realized losses:</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B13"> </td><td style="width: 9%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B13"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D13"> </td><td style="width: 9%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D13"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="padding-left: 10px;">Total realized losses</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B15"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">0</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B15"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D15"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">0</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D15"> </td></tr><tr><td style="padding-left: 20px;">Net realized investment gains</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B16"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">3,548,793</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B16"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D16"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">975,769</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D16"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Change in fair value of equity securities:</td><td style="width: 1%;" title="Net Investment Gain (Loss) - B17"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Net Investment Gain (Loss) - B17"> </td><td> </td><td style="width: 1%;" title="Net Investment Gain (Loss) - D17"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Net Investment Gain (Loss) - D17"> </td></tr><tr><td style="text-indent: -10px; padding-left: 20px;">Change in fair value of equity securities held at the end of the period</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B18"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">28,213,466</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B18"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D18"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">16,290,482</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D18"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="padding-left: 10px;">Change in fair value of equity securities </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B19"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">28,213,466</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B19"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D19"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">16,290,482</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D19"> </td></tr><tr><td style="padding-left: 10px;">Net investment gains</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B20">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">31,762,259</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B20"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D20">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">17,266,251</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D20"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="text-indent: -10px; padding-left: 10px;">Change in net unrealized gains (losses) on available-for-sale investments included in other comprehensive income:</td><td style="width: 1%;" title="Net Investment Gain (Loss) - B21"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Net Investment Gain (Loss) - B21"> </td><td> </td><td style="width: 1%;" title="Net Investment Gain (Loss) - D21"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Net Investment Gain (Loss) - D21"> </td></tr><tr><td style="padding-left: 10px;">Fixed maturities</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B22">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(415,310</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B22">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D22">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">922,207</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D22"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="padding-left: 10px;">Net increase (decrease)</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B23">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">(415,310</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - B23">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D23">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">922,207</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Net Investment Gain (Loss) - D23"> </td></tr></table>
42178
0
3506615
975769
3548793
975769
0
0
3548793
975769
28213466
16290482
28213466
16290482
31762259
17266251
-415310
922207
-415310
922207
<div style="color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Note 4 – Fair Value Measurements</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Fair Value Measurements on a Recurring Basis</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">Assets and liabilities recorded at fair value in the Condensed Consolidated Balance Sheets are measured and classified in accordance with a fair value hierarchy consisting of three levels based on the observability of valuation inputs:</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">Level 1 – Valuation is based upon quoted prices (unadjusted) for identical assets or liabilities in active markets.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">Level 2 – Valuation methodologies include quoted prices for similar assets and liabilities in active markets or quoted prices for identical, quoted prices for identical or similar assets or liabilities in markets that are not active, or the Company may use various valuation techniques or pricing models that use observable inputs to measure fair value.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">Level 3 – Valuation is based upon unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities. Unobservable inputs reflect the Company’s own assumptions about the inputs that market participants would use in pricing the asset or liability.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant to the fair value measurement in its entirety.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">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:</span> </div>
<div style="font-size: 10pt; color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 1%;" title="Note 4 - Investment in FMS - B3"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 9%;">Level 1</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 1%;" title="Note 4 - Investment in FMS - B3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 1%;" title="Note 4 - Investment in FMS - D3"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 9%;">Level 2</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 1%;" title="Note 4 - Investment in FMS - D3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 1%;" title="Note 4 - Investment in FMS - F3"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 9%;">Level 3</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 1%;" title="Note 4 - Investment in FMS - F3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 1%;" title="Note 4 - Investment in FMS - H3"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 9%;">Total</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 1%;" title="Note 4 - Investment in FMS - H3"> </td></tr><tr><td>Fixed maturity securities:</td><td style="width: 1%;" title="Note 4 - Investment in FMS - B4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - B4"> </td><td> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - D4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - D4"> </td><td> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - F4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - F4"> </td><td> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - H4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - H4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>U.S. Government and government agencies and authorities</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - B5">$</td><td style="width: 9%; text-align: right;">22,707,968</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - B5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - D5">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - D5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - F5">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - F5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - H5">$</td><td style="width: 9%; text-align: right;">22,707,968</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - H5"> </td></tr><tr><td>U.S. special revenue and assessments</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - B6"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - B6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - D6"> </td><td style="width: 9%; text-align: right;">7,415,539</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - D6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - F6"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - F6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - H6"> </td><td style="width: 9%; text-align: right;">7,415,539</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - H6"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Corporate securities</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - B7"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">0</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - B7"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - D7"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">42,050,758</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - D7"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - F7"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">0</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - F7"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - H7"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">42,050,758</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - H7"> </td></tr><tr><td>Total fixed maturities</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - B8"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">22,707,968</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - B8"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - D8"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">49,466,297</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - D8"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - F8"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">0</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - F8"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - H8"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">72,174,265</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - H8"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Equity securities:</td><td style="width: 1%;" title="Note 4 - Investment in FMS - B9"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - B9"> </td><td> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - D9"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - D9"> </td><td> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - F9"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - F9"> </td><td> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - H9"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - H9"> </td></tr><tr><td>Common stocks</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - B10"> </td><td style="width: 9%; text-align: right;">79,362,164</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - B10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - D10"> </td><td style="width: 9%; text-align: right;">5,415,600</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - D10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - F10"> </td><td style="width: 9%; text-align: right;">3,572,977</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - F10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - H10"> </td><td style="width: 9%; text-align: right;">88,350,741</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - H10"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Limited liability companies</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - B11"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">0</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - B11"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - D11"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">0</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - D11"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - F11"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">85,567,443</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - F11"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - H11"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">85,567,443</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - H11"> </td></tr><tr><td>Total equity securities</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - B12"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">79,362,164</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - B12"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - D12"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">5,415,600</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - D12"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - F12"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">89,140,420</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - F12"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - H12"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">173,918,184</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - H12"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Short-term investments</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - B13"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">7,390,012</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - B13"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - D13"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">0</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - D13"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - F13"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">0</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - F13"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - H13"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">7,390,012</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - H13"> </td></tr><tr><td>Total financial assets</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 - Investment in FMS - B14">$</td><td style="width: 9%; text-align: right; border-bottom: 3px double black;">109,460,144</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 - Investment in FMS - B14"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 - Investment in FMS - D14">$</td><td style="width: 9%; text-align: right; border-bottom: 3px double black;">54,881,897</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 - Investment in FMS - D14"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 - Investment in FMS - F14">$</td><td style="width: 9%; text-align: right; border-bottom: 3px double black;">89,140,420</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 - Investment in FMS - F14"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 - Investment in FMS - H14">$</td><td style="width: 9%; text-align: right; border-bottom: 3px double black;">253,482,461</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 - Investment in FMS - H14"> </td></tr></table><div style="font-size: 10pt; color: #000000;"> </div>
<table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">December 31, 2025</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 - Investment in FMS - B18"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Level 1</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 - Investment in FMS - B18"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 - Investment in FMS - D18"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Level 2</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 - Investment in FMS - D18"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 - Investment in FMS - F18"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Level 3</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 - Investment in FMS - F18"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 - Investment in FMS - H18"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Total</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 - Investment in FMS - H18"> </td></tr><tr><td>Fixed maturity securities:</td><td style="width: 1%;" title="Note 4 - Investment in FMS - B19"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - B19"> </td><td> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - D19"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - D19"> </td><td> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - F19"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - F19"> </td><td> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - H19"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - H19"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>U.S. Government and government agencies and authorities</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - B20">$</td><td style="width: 9%; text-align: right;">22,750,726</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - B20"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - D20">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - D20"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - F20">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - F20"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - H20">$</td><td style="width: 9%; text-align: right;">22,750,726</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - H20"> </td></tr><tr><td>U.S. special revenue and assessments</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - B21"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - B21"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - D21"> </td><td style="width: 9%; text-align: right;">7,453,922</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - D21"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - F21"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - F21"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - H21"> </td><td style="width: 9%; text-align: right;">7,453,922</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - H21"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Corporate securities</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - B22"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">0</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - B22"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - D22"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">42,954,941</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - D22"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - F22"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">0</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - F22"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - H22"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">42,954,941</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - H22"> </td></tr><tr><td>Total fixed maturities</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - B23"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">22,750,726</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - B23"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - D23"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">50,408,863</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - D23"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - F23"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">0</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - F23"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - H23"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">73,159,589</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - H23"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Equity securities:</td><td style="width: 1%;" title="Note 4 - Investment in FMS - B24"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - B24"> </td><td> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - D24"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - D24"> </td><td> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - F24"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - F24"> </td><td> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - H24"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - H24"> </td></tr><tr><td>Common stocks</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - B25"> </td><td style="width: 9%; text-align: right;">75,400,093</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - B25"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - D25"> </td><td style="width: 9%; text-align: right;">5,571,600</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - D25"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - F25"> </td><td style="width: 9%; text-align: right;">3,368,748</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - F25"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - H25"> </td><td style="width: 9%; text-align: right;">84,340,441</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - H25"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Limited liability companies</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - B26"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">0</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - B26"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - D26"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">0</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - D26"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - F26"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">85,810,435</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - F26"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - H26"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">85,810,435</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - H26"> </td></tr><tr><td>Total equity securities</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - B27"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">75,400,093</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - B27"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - D27"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">5,571,600</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - D27"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - F27"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">89,179,183</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - F27"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - H27"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">170,150,876</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - H27"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Short-term investments</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - B28"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">9,808,824</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - B28"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - D28"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">0</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - D28"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - F28"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">0</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - F28"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - H28"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">9,808,824</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - H28"> </td></tr><tr><td>Total financial assets</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - B29">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">107,959,643</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - B29"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - D29">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">55,980,463</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - D29"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - F29">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">89,179,183</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - F29"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - H29">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">253,119,289</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - H29"> </td></tr></table><div style="color: #000000;"> </div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">Total assets
included in the fair value hierarchy exclude certain equity securities that
were measured at estimated fair value using the net asset value (“NAV”) per
share practical expedient. At March 31, 2026 and December 31, 2025, the estimated fair value of such investments
was $114,959,727 and $95,553,354, respectively. These investments are generally
not readily redeemable by the investee.</div><div style="text-align: justify; color: #000000;"> </div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">The
following is a description of the valuation techniques used the by Company to
measure assets reported at fair value on a recurring basis. There have been no significant changes in the valuation techniques
utilized by the Company for the three months ended March 31, 2026.</div><div style="text-align: justify; color: #000000;"> </div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Available for Sale Securities</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">Securities classified as available for sale are recorded at fair value on a recurring basis. Securities classified as Level 1 utilized fair value measurements based upon quoted market prices, when available. If quoted market prices are not available, the Company obtains fair value measurements from recently executed transactions, market price quotations, benchmark yields and issuer spreads to value Level 2 securities. In certain instances where Level 1 or Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy. Fair value determinations for Level 3 measurements are estimated on a quarterly basis where assumptions used are reviewed to ensure the estimated fair value complies with accounting standards generally accepted in the United States.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Equity Securities at Fair Value</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">Equity securities consist of common and preferred stocks and limited liability companies mainly in private equity investments, financial institutions and publicly traded corporations. Equity securities for which there is sufficient market data are categorized as Level 1 or 2 in the fair value hierarchy. For the equity securities in which quoted market prices are not available, the Company uses industry standard pricing methodologies, including discounted cash flow models that may incorporate various inputs such as payment expectations, risk of the investment, market data, and health of the underlying company. The inputs are based upon Management’s assumptions and available market information. When evidence is believed to support a change to the carrying value from the transaction price, adjustments are made to reflect the expected cash flows, material events and market data. These investments are included in Level 3 of the fair value hierarchy.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt; font-weight: bold;">Change in Recurring Fair Value Measurements</span> </div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">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.</span> </div>
<div style="font-size: 10pt; color: #000000;"> </div>
<table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td> </td><td style="width: 1%;" title="Note 4 - Equity Sec Measured at FV - B3"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Equity Sec Measured at FV - B3"> </td><td> </td><td style="width: 1%;" title="Note 4 - Equity Sec Measured at FV - D3"> </td><td style="width: 9%; text-align: center;">Investments in</td><td style="width: 1%;" title="Note 4 - Equity Sec Measured at FV - D3"> </td><td> </td><td style="width: 1%;" title="Note 4 - Equity Sec Measured at FV - F3"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Equity Sec Measured at FV - F3"> </td></tr><tr><td> </td><td style="width: 1%;" title="Note 4 - Equity Sec Measured at FV - B4"> </td><td style="width: 9%; text-align: center;">Investments in</td><td style="width: 1%;" title="Note 4 - Equity Sec Measured at FV - B4"> </td><td> </td><td style="width: 1%;" title="Note 4 - Equity Sec Measured at FV - D4"> </td><td style="width: 9%; text-align: center;">Limited Liability</td><td style="width: 1%;" title="Note 4 - Equity Sec Measured at FV - D4"> </td><td> </td><td style="width: 1%;" title="Note 4 - Equity Sec Measured at FV - F4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Equity Sec Measured at FV - F4"> </td></tr><tr><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - B5"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Common Stocks</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - B5"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - D5"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Companies</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - D5"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - F5"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Total</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - F5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Balance at December 31, 2024</td><td style="width: 1%; text-align: left;" title="Note 4 - Equity Sec Measured at FV - B6">$</td><td style="width: 9%; text-align: right;">3,064,983</td><td style="width: 1%; text-align: left;" title="Note 4 - Equity Sec Measured at FV - B6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Equity Sec Measured at FV - D6">$</td><td style="width: 9%; text-align: right;">82,654,596</td><td style="width: 1%; text-align: left;" title="Note 4 - Equity Sec Measured at FV - D6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Equity Sec Measured at FV - F6">$</td><td style="width: 9%; text-align: right;">85,719,579</td><td style="width: 1%; text-align: left;" title="Note 4 - Equity Sec Measured at FV - F6"> </td></tr><tr><td>Unrealized gains </td><td style="width: 1%; text-align: left;" title="Note 4 - Equity Sec Measured at FV - B7"> </td><td style="width: 9%; text-align: right;">303,765</td><td style="width: 1%; text-align: left;" title="Note 4 - Equity Sec Measured at FV - B7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Equity Sec Measured at FV - D7"> </td><td style="width: 9%; text-align: right;">4,146,711</td><td style="width: 1%; text-align: left;" title="Note 4 - Equity Sec Measured at FV - D7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Equity Sec Measured at FV - F7"> </td><td style="width: 9%; text-align: right;">4,450,476</td><td style="width: 1%; text-align: left;" title="Note 4 - Equity Sec Measured at FV - F7"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Sales</td><td style="width: 1%; text-align: left; border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 - Equity Sec Measured at FV - B8"> </td><td style="width: 9%; text-align: right; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;">0</td><td style="width: 1%; text-align: left; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 - Equity Sec Measured at FV - B8"> </td><td> </td><td style="width: 1%; text-align: left; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 - Equity Sec Measured at FV - D8"> </td><td style="width: 9%; text-align: right; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;">(990,872</td><td style="width: 1%; text-align: left; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 - Equity Sec Measured at FV - D8">) </td><td> </td><td style="width: 1%; text-align: left; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 - Equity Sec Measured at FV - F8"> </td><td style="width: 9%; text-align: right; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;">(990,872</td><td style="width: 1%; text-align: left; border-bottom: 1px solid rgb(0, 0, 0); border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 - Equity Sec Measured at FV - F8">) </td></tr><tr><td>Balance at December 31, 2025</td><td style="width: 1%; text-align: left; border-top: 1px solid rgb(0, 0, 0); border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 - Equity Sec Measured at FV - B9"> </td><td style="width: 9%; text-align: right; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;">3,368,748</td><td style="width: 1%; text-align: left; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 - Equity Sec Measured at FV - B9"> </td><td> </td><td style="width: 1%; text-align: left; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 - Equity Sec Measured at FV - D9"> </td><td style="width: 9%; text-align: right; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;">85,810,435</td><td style="width: 1%; text-align: left; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 - Equity Sec Measured at FV - D9"> </td><td> </td><td style="width: 1%; text-align: left; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 - Equity Sec Measured at FV - F9"> </td><td style="width: 9%; text-align: right; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;">89,179,183</td><td style="width: 1%; text-align: left; border-bottom-width: medium; border-bottom-style: none; border-bottom-color: currentcolor; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 - Equity Sec Measured at FV - F9"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Unrealized gains (losses)</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - B10"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">204,229</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - B10"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - D10"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(242,992</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - D10">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - F10"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(38,763</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - F10">) </td></tr><tr><td>Balance at March 31, 2026</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - B11">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">3,572,977</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - B11"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - D11">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">85,567,443</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - D11"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - F11">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">89,140,420</td><td style="width: 1%; text-align: left; border-bottom: 3px double rgb(0, 0, 0); border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 - Equity Sec Measured at FV - F11"> </td></tr></table><div style="font-size: 10pt; color: #000000;"> </div><div style="margin: 0in; font-size: 10pt; text-align: justify;">Both observable and unobservable inputs may be used to determine
the fair values of positions classified in Level 3 in the table above. As a
result, the unrealized gains (losses) on instruments held at March 31, 2026 and December 31, 2025 may include changes in fair value that were
attributable to both observable and unobservable inputs.</div><div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">Assets and liabilities are transferred into Level 3 when a significant input cannot be corroborated with market observable data. This occurs when market activity decreases significantly and underlying inputs cannot be observed, current prices are not available, and/or when there are significant variances in quoted prices, thereby affecting transparency. Assets and liabilities are transferred out of Level 3 when circumstances change such that a significant input can be corroborated with market observable data. This may be due to a significant increase in market activity, a specific event, or one or more significant input(s) becoming observable.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Quantitative Information About Level 3 Fair Value Measurements</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">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.</span> </div>
<div style="text-align: justify; color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 38%;"></td></tr><tr><td> </td><td style="width: 1%;" title="Note 4 FV Meas for Level 3 Instrument - B2"> </td><td style="text-align: center; width: 9%;">Fair Value at</td><td style="width: 1%;" title="Note 4 FV Meas for Level 3 Instrument - B2"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Meas for Level 3 Instrument - D2"> </td><td style="text-align: center; width: 9%;">Fair Value at</td><td style="width: 1%;" title="Note 4 FV Meas for Level 3 Instrument - D2"> </td><td> </td><td> </td></tr><tr><td>Financial Assets</td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 FV Meas for Level 3 Instrument - B3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">March 31, 2026</td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 FV Meas for Level 3 Instrument - B3"> </td><td> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 FV Meas for Level 3 Instrument - D3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">December 31, 2025</td><td style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor; width: 1%;" title="Note 4 FV Meas for Level 3 Instrument - D3"> </td><td> </td><td style="text-align: center;">Valuation Technique</td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Limited liability companies</td><td style="width: 1%; text-align: left;" title="Note 4 FV Meas for Level 3 Instrument - B4">$</td><td style="width: 9%; text-align: right;">85,567,443</td><td style="width: 1%; text-align: left;" title="Note 4 FV Meas for Level 3 Instrument - B4"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Meas for Level 3 Instrument - D4">$</td><td style="width: 9%; text-align: right;">85,810,435</td><td style="width: 1%; text-align: left;" title="Note 4 FV Meas for Level 3 Instrument - D4"> </td><td> </td><td style="text-align: center;">Pricing Model</td></tr><tr><td>Common stocks</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 FV Meas for Level 3 Instrument - B5"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">3,572,977</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 FV Meas for Level 3 Instrument - B5"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 FV Meas for Level 3 Instrument - D5"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">3,368,748</td><td style="width: 1%; text-align: left; border-bottom: 1px solid rgb(0, 0, 0); border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 FV Meas for Level 3 Instrument - D5"> </td><td> </td><td style="text-align: center;">Pricing Model</td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Total</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 FV Meas for Level 3 Instrument - B6">$</td><td style="width: 9%; text-align: right; border-bottom: 3px double black;">89,140,420</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 FV Meas for Level 3 Instrument - B6"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 FV Meas for Level 3 Instrument - D6">$</td><td style="width: 9%; text-align: right; border-bottom: 3px double black;">89,179,183</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 FV Meas for Level 3 Instrument - D6"> </td><td> </td><td> </td></tr></table><div style="text-align: justify; color: #000000;"> </div><div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Uncertainty of Fair Value Measurements</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The significant unobservable inputs used in the determination of the fair value of assets classified as Level 3 have an inherent measurement uncertainty that if changed could result in higher or lower fair value measurements of these assets as of the reporting date.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Equity Securities at Fair Value</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">Fair market value for equity securities is derived based on unobservable inputs, such as projected normalized revenues and industry standard multiples of revenue for the equity securities valued using pricing model. Significant increases (decreases) in either of those inputs in isolation would result in a significantly higher (lower) fair value measurement.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Investments in Certain Entities Carried at Fair Value Using Net Asset Value per Share</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The Company holds certain equity securities that are measured at estimated fair value using the NAV per share practical expedient. These investments are generally not readily redeemable by the investee. The following tables provide additional information regarding the assets carried at NAV.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="color: #000000;"> <span style="font-size: 10.0pt; font-weight: bold;">Investments in Certain Entities Carried at Fair Value Using Net Asset Value per Share</span> </div>
<div style="font-size: 10pt; color: #000000;"> </div>
<table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - B3"> </td><td style="width: 9%; text-align: center;">Fair Value at</td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - B3"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - D3"> </td><td style="width: 9%; text-align: center;">Unfunded</td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - D3"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F3"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F3"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H3"> </td><td style="width: 9%; text-align: center;">Redemption Notice</td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H3"> </td></tr><tr><td style="text-decoration: underline;">Investment Category</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 Assets Carried at NAV - B4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 Assets Carried at NAV - B4"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 Assets Carried at NAV - D4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Commitments</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 Assets Carried at NAV - D4"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 Assets Carried at NAV - F4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Redemption Frequency</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 Assets Carried at NAV - F4"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 Assets Carried at NAV - H4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Period</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 Assets Carried at NAV - H4"> </td></tr><tr><td>Redeemable</td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - B5"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - B5"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - D5"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - D5"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F5"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F5"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H5"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="padding-left: 10px;"> Limited partnership</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - B6">$</td><td style="width: 9%; text-align: right;">67,060,154</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - B6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - D6">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - D6"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F6"> </td><td style="width: 9%; text-align: center;">Quarterly</td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - H6"> </td><td style="width: 9%; text-align: center;">45 days</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - H6"> </td></tr><tr><td>Non-redeemable</td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - B7"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - B7"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - D7"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - D7"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F7"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F7"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H7"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H7"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="padding-left: 10px;"> Limited liability companies</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - B8"> </td><td style="width: 9%; text-align: right;">7,851,247</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - B8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - D8"> </td><td style="width: 9%; text-align: right;">2,580,042</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - D8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - F8"> </td><td style="width: 9%; text-align: right;">n/a</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - F8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - H8"> </td><td style="width: 9%; text-align: right;">n/a</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - H8"> </td></tr><tr><td style="padding-left: 10px;"> Limited partnerships</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 Assets Carried at NAV - B9"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">40,048,326</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 Assets Carried at NAV - B9"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 Assets Carried at NAV - D9"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">5,804,849</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 Assets Carried at NAV - D9"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 4 Assets Carried at NAV - F9"> </td><td style="width: 9%; text-align: right; border-width: medium; border-style: none; border-color: currentcolor;">n/a</td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 4 Assets Carried at NAV - F9"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 4 Assets Carried at NAV - H9"> </td><td style="width: 9%; text-align: right; border-width: medium; border-style: none; border-color: currentcolor;">n/a</td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 4 Assets Carried at NAV - H9"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Total</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 Assets Carried at NAV - B10">$</td><td style="width: 9%; text-align: right; border-bottom: 3px double black;">114,959,727</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 Assets Carried at NAV - B10"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 Assets Carried at NAV - D10">$</td><td style="width: 9%; text-align: right; border-bottom: 3px double black;">8,384,891</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 Assets Carried at NAV - D10"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F10"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F10"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H10"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H10"> </td></tr></table><div style="font-size: 10pt; color: #000000;"> </div>
<table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - B12"> </td><td style="text-align: center; width: 9%;">Fair Value at</td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - B12"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - D12"> </td><td style="text-align: center; width: 9%;">Unfunded</td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - D12"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F12"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F12"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H12"> </td><td style="text-align: center; width: 9%;">Redemption Notice</td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H12"> </td></tr><tr><td style="text-decoration: underline;">Investment Category</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 Assets Carried at NAV - B13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">December 31, 2025</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 Assets Carried at NAV - B13"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 Assets Carried at NAV - D13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Commitments</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 Assets Carried at NAV - D13"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 Assets Carried at NAV - F13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Redemption Frequency</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 Assets Carried at NAV - F13"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 Assets Carried at NAV - H13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Period</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 Assets Carried at NAV - H13"> </td></tr><tr><td>Redeemable</td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - B14"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - B14"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - D14"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - D14"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F14"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F14"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H14"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H14"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="padding-left: 10px;"> Limited partnership</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - B15">$</td><td style="width: 9%; text-align: right;">48,740,340</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - B15"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - D15">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - D15"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F15"> </td><td style="text-align: center; width: 9%;">Quarterly</td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F15"> </td><td> </td><td style="text-align: left; width: 1%;" title="Note 4 Assets Carried at NAV - H15"> </td><td style="text-align: center; width: 9%;">45 days</td><td style="text-align: left; width: 1%;" title="Note 4 Assets Carried at NAV - H15"> </td></tr><tr><td>Non-redeemable</td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - B16"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - B16"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - D16"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - D16"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F16"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F16"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H16"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H16"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="padding-left: 10px;"> Limited liability companies</td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 4 Assets Carried at NAV - B17"> </td><td style="width: 9%; text-align: right; border-width: medium; border-style: none; border-color: currentcolor;">6,883,913</td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 4 Assets Carried at NAV - B17"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 4 Assets Carried at NAV - D17"> </td><td style="width: 9%; text-align: right; border-width: medium; border-style: none; border-color: currentcolor;">2,740,042</td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 4 Assets Carried at NAV - D17"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 4 Assets Carried at NAV - F17"> </td><td style="width: 9%; text-align: right; border-width: medium; border-style: none; border-color: currentcolor;">n/a</td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 4 Assets Carried at NAV - F17"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 4 Assets Carried at NAV - H17"> </td><td style="width: 9%; text-align: right; border-width: medium; border-style: none; border-color: currentcolor;">n/a</td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 4 Assets Carried at NAV - H17"> </td></tr><tr><td style="padding-left: 10px;"> Limited partnerships</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 Assets Carried at NAV - B18"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">39,929,101</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 Assets Carried at NAV - B18"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 Assets Carried at NAV - D18"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">1,069,085</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 Assets Carried at NAV - D18"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - F18"> </td><td style="width: 9%; text-align: right;">n/a</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - F18"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - H18"> </td><td style="width: 9%; text-align: right;">n/a</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - H18"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="padding-left: 10px;">Total</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 Assets Carried at NAV - B18">$</td><td style="width: 9%; text-align: right; border-bottom: 3px double black;">95,553,354</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 Assets Carried at NAV - B18"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 Assets Carried at NAV - D18">$</td><td style="width: 9%; text-align: right; border-bottom: 3px double black;">3,809,127</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 Assets Carried at NAV - D18"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - F18"> </td><td style="width: 9%; text-align: right;"></td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - F18"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - H18"> </td><td style="width: 9%; text-align: right;"></td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - H18"> </td></tr></table><div style="text-align: justify; color: #000000;"> </div><div style="color: #000000;">
<span style="font-size: 10.0pt;">The following are descriptions of the Company's assets held at NAV.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The Company invested in a limited partnership that was formed under the laws of the State of Delaware in 1999, as a Delaware limited partnership (“LP”). The Limited Partnership Agreement provides for the Fund to continue until dissolved. There are significant restrictions to the dissolution process, which are outlined in the LP Agreement. The Fund invests in listed equity and fixed income securities as well as non-listed securities, including direct-owned minerals and other royalties. In 2013, UG entered into an irrevocable subscription agreement to invest in the LP.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The Company invested in a Limited Liability Company (“LLC”) that was formed under the laws of the state of Delaware in 2020. The LLC agreement provides for the Company to continue until dissolved. There are significant restrictions to the dissolution process, which are outlined in the LLC Agreement. The LLC Company was formed for the purpose of acquiring, making investments in, and owning, holding, and growing operating businesses through the United States. In 2020, UG entered into a LLC Agreement to invest in this LLC.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The Company invested in a Limited Liability Company (“LLC”) that was formed under the laws of the state of Delaware. The LLC was formed in 2020 to provide long-term investment returns. The Company will continue to operate until December 31, 2032, or until each of the investment funds in which the LLC invests terminates, unless terminated earlier or extended in accordance with the Operating Agreement. In 2020, UG completed the Subscription Agreement to become an investor in this LLC.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The Company invested in a Limited Liability Company (“LLC”) that was formed under the laws of the state of Delaware. The LLC was formed in 2022 to amplify philanthropy by primarily investing in venture capital investment funds and in direct venture capital investments of operating companies. The Company will continue to operate until December 31, 2034, or until each of the investment funds in which the LLC invests terminates, unless terminated earlier or extended in accordance with the Operating Agreement. In 2022, the Company completed the Subscription Agreement to become an investor in this LLC.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The Company invested in the Limited Partnership ("LP"), a closed-end fund, formed pursuant to the laws of the state of Delaware under a limited partnership agreement in 2022, and shall dissolve upon the first to occur of either the end of the tenth anniversary of the final closing date or, if extended, upon the end of such extension(s), upon the dissolution or removal of the General Partner or upon other specific circumstances as defined in the LP Agreement.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The Company invested in a closed-end LP fund that was formed pursuant to the laws of the State of Delaware under a limited partners agreement (the “Agreement”) in 2012 and is scheduled to terminate on the tenth anniversary of the final closing date, unless terminated sooner or extended in accordance with the Agreement. The purpose of the LP is to make investments in and pursue targets that educate, train, and inspire men and women in the United States and around the world to value free enterprise, business, and economics to improve the quality of their lives and the lives and the lives of those in their communities. In 2012, the Company entered into a Limited Partnership Agreement to invest in this LP. The Company is currently in the process of winding down operations.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The Company invested in a closed-end LP fund that was formed pursuant to the laws of the State of Delaware under a limited partners agreement (the “Agreement”) in 2015 and is scheduled to terminate on the tenth anniversary of the final closing date, unless terminated sooner or extended in accordance with the Agreement. The purpose of the LP is to make investments in and pursue targets that educate, train, and inspire men and women in the United States and around the world to value free enterprise, business, and economics to improve the quality of their lives and the lives and the lives of those in their communities. In 2015, the Company entered into a Limited Partnership Agreement to invest in this LP.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The Company invested in a closed-end LP fund that was formed pursuant to the laws of the State of Delaware under a limited partners agreement (the “Agreement”) in 2018 (the “Agreement”) and is scheduled to terminate on the twelfth anniversary of the Final Closing Date, unless terminated sooner or extended in accordance with the Agreement. The purpose of the Partnership is to make investments in and pursue targets that educate, train, and inspire men and women in the United States and around the world to value free enterprise, business, and economics to improve the quality of their lives and the lives and the lives of those in their communities. In 2018, the Company entered into a Limited Partnership Agreement to invest in this LP.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The Company invested in a Limited Liability Company (“LLC”) that was formed under the laws of the state of Delaware. The LLC was formed in 2021 for the purpose of investing in companies located in emerging markets. The Limited Liability Company Agreement provides for LLC to continue until dissolved, unless terminated earlier through terms specified in the Operating Agreement. In 2021, the Company entered into a Limited Liability Company Agreement to invest in the LLC.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The Company invested in a closed-end LP fund that was formed pursuant to the laws of the State of Delaware under a limited partners agreement (the “Agreement”) in 2024 and is scheduled to terminate on the tenth anniversary of the final closing date, unless terminated sooner or extended in accordance with the Agreement. The purpose of the LP is to invest in fire prevention related services. In 2024, the Company entered into a Limited Partnership Agreement to invest in this LP.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The Company invested in a LP that was formed pursuant to the laws of the state of Delaware under a limited partnership agreement in 2021 (the “Agreement”) and is scheduled to terminate on the tenth anniversary of the Final Closing Date, unless terminated sooner or extended in accordance with the Agreement. The Partnership is organized for the principal purposes of acquiring, holding, supervising, managing and disposing of investment in recapitalization, management buyouts, and corporate divestitures of Portfolio Companies operating in various segments of the U.S. lower middle markets. In 2022, the Company entered into a Limited Partnership Agreement to invest in this LP.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The Company invested in a Limited Partnership ("LP") that was formed under the laws of the state of Delaware. The LP was formed in 2024 to provide long-term investment returns. The Limited Partnership Agreement provides for the Fund to continue until dissolved. There are significant restrictions to the dissolution process, which are outlined in the LP Agreement. The Fund invests in listed equity and fixed income securities. In 2025, UG entered into a subscription agreement to invest in the LP.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;"><span style="mso-bidi-language:EN-US">The Company invested in a LP that </span>was
formed pursuant to the laws of the state of Delaware under a limited
partnership agreement <span style="mso-bidi-language:EN-US">in 2025</span> (the
“Agreement”) and is scheduled to terminate on the tenth anniversary of the
Final Closing Date, unless terminated sooner or extended in accordance with the
Agreement. The Partnership is organized for the principal purposes of
acquiring, holding, supervising, managing and disposing of investment in
recapitalization, management buyouts, and corporate divestitures of Portfolio
Companies operating in various segments of the U.S. lower middle markets. In
2026, <span style="mso-bidi-language:EN-US">the Company </span>entered into a
Limited Partnership Agreement to invest in <span style="mso-bidi-language:EN-US">this</span>
LP.</div><div> </div><div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Fair Value Measurements on a Nonrecurring Basis</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">Certain assets
are not carried at fair value on a recurring basis. Accordingly, such
investments are only included in the fair value hierarchy disclosure when the
investment is subject to re-measurement at fair value after initial recognition
and the resulting re-measurement is reflected in the Consolidated Financial
Statements. At March 31, 2026 and December 31, 2025, the Company recognized an
other-than-temporary impairment of $0 and $725,032 on an equity security,
respectively.</div><div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Fair Value Information About Financial Instruments Not Measured at Fair Value</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">Certain assets are not carried at fair value on a recurring basis. Accordingly, such investments are only included in the fair value hierarchy disclosure when the investment is subject to re-measurement at fair value after initial recognition and the resulting re-measurement is reflected in the Consolidated Financial Statements.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">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:</span> </div>
<div style="font-size: 10pt; color: #000000;"> </div>
<table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B3"> </td><td style="width: 9%; text-align: center;">Carrying</td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - B3"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - D3"> </td><td style="width: 9%; text-align: center;">Estimated</td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - D3"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - F3"> </td><td style="width: 9%; text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - F3"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - H3"> </td><td style="width: 9%; text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - H3"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - J3"> </td><td style="width: 9%; text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - J3"> </td></tr><tr><td style="border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-left-width: medium; border-left-style: none; border-left-color: currentcolor;">March 31, 2026</td><td style="width: 1%; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - B4"> </td><td style="width: 9%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;">Amount</td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - B4"> </td><td style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - D4"> </td><td style="width: 9%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;">Fair Value</td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - D4"> </td><td style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - F4"> </td><td style="width: 9%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;">Level 1</td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - F4"> </td><td style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - H4"> </td><td style="width: 9%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;">Level 2</td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - H4"> </td><td style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - J4"> </td><td style="width: 9%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;">Level 3</td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 FV Based on Inputs Used - J4"> </td></tr><tr><td>Assets</td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B5"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B5"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - D5"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - D5"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - F5"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - F5"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - H5"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - H5"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - J5"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - J5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Equity securities, at cost</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B6">$</td><td style="width: 9%; text-align: right;">13,664,543</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D6">$</td><td style="width: 9%; text-align: right;">13,664,543</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F6">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H6">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J6">$</td><td style="width: 9%; text-align: right;">13,664,543</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J6"> </td></tr><tr><td>Mortgage loans on real estate </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B7"> </td><td style="width: 9%; text-align: right;">13,625,829</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D7"> </td><td style="width: 9%; text-align: right;">13,125,011</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F7"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H7"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J7"> </td><td style="width: 9%; text-align: right;">13,125,011</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J7"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Notes receivable</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B8"> </td><td style="width: 9%; text-align: right;">8,257,713</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D8"> </td><td style="width: 9%; text-align: right;">8,254,172</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F8"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H8"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J8"> </td><td style="width: 9%; text-align: right;">8,254,172</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J8"> </td></tr><tr><td>Policy loans</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B9"> </td><td style="width: 9%; text-align: right;">5,267,121</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D9"> </td><td style="width: 9%; text-align: right;">5,267,121</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F9"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H9"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J9"> </td><td style="width: 9%; text-align: right;">5,267,121</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J9"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Accrued investment income</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B10"> </td><td style="width: 9%; text-align: right;">1,142,164</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D10"> </td><td style="width: 9%; text-align: right;">1,142,164</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F10"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H10"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J10"> </td><td style="width: 9%; text-align: right;">1,142,164</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J10"> </td></tr><tr><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B11"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B11"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - D11"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - D11"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - F11"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - F11"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - H11"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - H11"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - J11"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - J11"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Liabilities</td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B12"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B12"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - D12"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - D12"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - F12"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - F12"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - H12"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - H12"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - J12"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - J12"> </td></tr><tr><td>Policy claims and benefits payable</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B13"> </td><td style="width: 9%; text-align: right;">6,208,011</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D13"> </td><td style="width: 9%; text-align: right;">6,208,011</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F13"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H13"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J13"> </td><td style="width: 9%; text-align: right;">6,208,011</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J13"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Dividend and endowment accumulations</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B14"> </td><td style="width: 9%; text-align: right;">14,490,086</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D14"> </td><td style="width: 9%; text-align: right;">14,490,086</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F14"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H14"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J14"> </td><td style="width: 9%; text-align: right;">14,490,086</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J14"> </td></tr></table><div style="font-size: 10pt; color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B17"> </td><td style="width: 9%; text-align: center;">Carrying</td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - B17"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - D17"> </td><td style="width: 9%; text-align: center;">Estimated</td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - D17"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - F17"> </td><td style="width: 9%; text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - F17"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - H17"> </td><td style="width: 9%; text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - H17"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - J17"> </td><td style="width: 9%; text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - J17"> </td></tr><tr><td style="border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-left-width: medium; border-left-style: none; border-left-color: currentcolor;">December 31, 2025</td><td style="width: 1%; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - B18"> </td><td style="width: 9%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;">Amount</td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - B18"> </td><td style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - D18"> </td><td style="width: 9%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;">Fair Value</td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - D18"> </td><td style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - F18"> </td><td style="width: 9%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;">Level 1</td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - F18"> </td><td style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - H18"> </td><td style="width: 9%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;">Level 2</td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - H18"> </td><td style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - J18"> </td><td style="width: 9%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;">Level 3</td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 FV Based on Inputs Used - J18"> </td></tr><tr><td>Assets</td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B19"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B19"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - D19"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - D19"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - F19"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - F19"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - H19"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - H19"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - J19"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - J19"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Equity securities, at cost</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B20">$</td><td style="width: 9%; text-align: right;">20,510,250</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B20"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D20">$</td><td style="width: 9%; text-align: right;">20,510,250</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D20"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F20">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F20"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H20">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H20"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J20">$</td><td style="width: 9%; text-align: right;">20,510,250</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J20"> </td></tr><tr><td>Mortgage loans on real estate </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B21"> </td><td style="width: 9%; text-align: right;">14,402,304</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B21"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D21"> </td><td style="width: 9%; text-align: right;">13,637,402</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D21"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F21"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F21"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H21"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H21"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J21"> </td><td style="width: 9%; text-align: right;">13,637,402</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J21"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Notes receivable</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B22"> </td><td style="width: 9%; text-align: right;">8,708,417</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B22"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D22"> </td><td style="width: 9%; text-align: right;">8,675,239</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D22"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F22"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F22"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H22"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H22"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J22"> </td><td style="width: 9%; text-align: right;">8,675,239</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J22"> </td></tr><tr><td>Policy loans</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B23"> </td><td style="width: 9%; text-align: right;">5,361,164</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B23"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D23"> </td><td style="width: 9%; text-align: right;">5,361,164</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D23"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F23"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F23"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H23"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H23"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J23"> </td><td style="width: 9%; text-align: right;">5,361,164</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J23"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Accrued investment income</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B24"> </td><td style="width: 9%; text-align: right;">1,129,139</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B24"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D24"> </td><td style="width: 9%; text-align: right;">1,129,139</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D24"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F24"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F24"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H24"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H24"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J24"> </td><td style="width: 9%; text-align: right;">1,129,139</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J24"> </td></tr><tr><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B25"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B25"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - D25"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - D25"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - F25"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - F25"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - H25"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - H25"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - J25"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - J25"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Liabilities</td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B26"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B26"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - D26"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - D26"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - F26"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - F26"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - H26"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - H26"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - J26"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - J26"> </td></tr><tr><td>Policy claims and benefits payable</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B27"> </td><td style="width: 9%; text-align: right;">3,456,000</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B27"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D27"> </td><td style="width: 9%; text-align: right;">3,456,000</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D27"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F27"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F27"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H27"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H27"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J27"> </td><td style="width: 9%; text-align: right;">3,456,000</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J27"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Dividend and endowment accumulations</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B28"> </td><td style="width: 9%; text-align: right;">14,568,544</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B28"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D28"> </td><td style="width: 9%; text-align: right;">14,568,544</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D28"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F28"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F28"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H28"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H28"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J28"> </td><td style="width: 9%; text-align: right;">14,568,544</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J28"> </td></tr></table><div style="color: #000000;"> </div><div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The above estimated fair value amounts have been determined based upon the following valuation methodologies. Considerable judgment was required to interpret market data in order to develop these estimates. Accordingly, the estimates are not necessarily indicative of the amounts which could be realized in a current market exchange. The use of different market assumptions or estimation methodologies may have a material effect on the fair value amounts.</span>
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<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">Certain equity securities are reported at their cost basis, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. It is not practicable to estimate their fair values due to insufficient information being available.</span>
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<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The fair values of mortgage loans on real estate are estimated using discounted cash flow analyses and interest rates being offered for similar loans to borrowers with similar credit ratings. The inputs used to measure the fair value of our mortgage loans on real estate are classified as Level 3 within the fair value hierarchy.</span>
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<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The fair values of notes receivable are estimated using discounted cash flow analyses and interest rates being offered for similar loans to borrowers with similar credit ratings. The inputs used to measure the fair value of the notes receivable are classified as Level 3 within the fair value hierarchy.</span>
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<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">Policy loans are carried at the aggregate unpaid principal balances in the Condensed Consolidated Balance Sheets which approximate fair value, and earn interest at rates ranging from 4% to 8%. Individual policy liabilities in all cases equal or exceed outstanding policy loan balances. The inputs used to measure the fair value of our policy loans are classified as Level 3 within the fair value hierarchy.</span> </div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The carrying value of accrued investment income approximates its fair value.</span>
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<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The carrying amounts reported for policy claims and benefits payable approximates fair value.</span>
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<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The carrying value for dividend and endowment accumulations approximates fair value.</span>
</div>
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">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:</span> </div>
<div style="font-size: 10pt; color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 1%;" title="Note 4 - Investment in FMS - B3"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 9%;">Level 1</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 1%;" title="Note 4 - Investment in FMS - B3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 1%;" title="Note 4 - Investment in FMS - D3"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 9%;">Level 2</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 1%;" title="Note 4 - Investment in FMS - D3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 1%;" title="Note 4 - Investment in FMS - F3"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 9%;">Level 3</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 1%;" title="Note 4 - Investment in FMS - F3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 1%;" title="Note 4 - Investment in FMS - H3"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 9%;">Total</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; width: 1%;" title="Note 4 - Investment in FMS - H3"> </td></tr><tr><td>Fixed maturity securities:</td><td style="width: 1%;" title="Note 4 - Investment in FMS - B4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - B4"> </td><td> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - D4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - D4"> </td><td> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - F4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - F4"> </td><td> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - H4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - H4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>U.S. Government and government agencies and authorities</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - B5">$</td><td style="width: 9%; text-align: right;">22,707,968</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - B5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - D5">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - D5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - F5">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - F5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - H5">$</td><td style="width: 9%; text-align: right;">22,707,968</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - H5"> </td></tr><tr><td>U.S. special revenue and assessments</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - B6"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - B6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - D6"> </td><td style="width: 9%; text-align: right;">7,415,539</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - D6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - F6"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - F6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - H6"> </td><td style="width: 9%; text-align: right;">7,415,539</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - H6"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Corporate securities</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - B7"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">0</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - B7"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - D7"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">42,050,758</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - D7"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - F7"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">0</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - F7"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - H7"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">42,050,758</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - H7"> </td></tr><tr><td>Total fixed maturities</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - B8"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">22,707,968</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - B8"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - D8"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">49,466,297</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - D8"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - F8"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">0</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - F8"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - H8"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">72,174,265</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - H8"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Equity securities:</td><td style="width: 1%;" title="Note 4 - Investment in FMS - B9"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - B9"> </td><td> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - D9"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - D9"> </td><td> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - F9"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - F9"> </td><td> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - H9"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - H9"> </td></tr><tr><td>Common stocks</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - B10"> </td><td style="width: 9%; text-align: right;">79,362,164</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - B10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - D10"> </td><td style="width: 9%; text-align: right;">5,415,600</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - D10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - F10"> </td><td style="width: 9%; text-align: right;">3,572,977</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - F10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - H10"> </td><td style="width: 9%; text-align: right;">88,350,741</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - H10"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Limited liability companies</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - B11"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">0</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - B11"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - D11"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">0</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - D11"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - F11"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">85,567,443</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - F11"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - H11"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">85,567,443</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - H11"> </td></tr><tr><td>Total equity securities</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - B12"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">79,362,164</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - B12"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - D12"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">5,415,600</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - D12"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - F12"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">89,140,420</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - F12"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - H12"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">173,918,184</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - H12"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Short-term investments</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - B13"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">7,390,012</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - B13"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - D13"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">0</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - D13"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - F13"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">0</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - F13"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - H13"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">7,390,012</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 - Investment in FMS - H13"> </td></tr><tr><td>Total financial assets</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 - Investment in FMS - B14">$</td><td style="width: 9%; text-align: right; border-bottom: 3px double black;">109,460,144</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 - Investment in FMS - B14"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 - Investment in FMS - D14">$</td><td style="width: 9%; text-align: right; border-bottom: 3px double black;">54,881,897</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 - Investment in FMS - D14"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 - Investment in FMS - F14">$</td><td style="width: 9%; text-align: right; border-bottom: 3px double black;">89,140,420</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 - Investment in FMS - F14"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 - Investment in FMS - H14">$</td><td style="width: 9%; text-align: right; border-bottom: 3px double black;">253,482,461</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 - Investment in FMS - H14"> </td></tr></table><div style="font-size: 10pt; color: #000000;"> </div>
<table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">December 31, 2025</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 - Investment in FMS - B18"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Level 1</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 - Investment in FMS - B18"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 - Investment in FMS - D18"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Level 2</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 - Investment in FMS - D18"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 - Investment in FMS - F18"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Level 3</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 - Investment in FMS - F18"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 - Investment in FMS - H18"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Total</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 - Investment in FMS - H18"> </td></tr><tr><td>Fixed maturity securities:</td><td style="width: 1%;" title="Note 4 - Investment in FMS - B19"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - B19"> </td><td> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - D19"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - D19"> </td><td> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - F19"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - F19"> </td><td> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - H19"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - H19"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>U.S. Government and government agencies and authorities</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - B20">$</td><td style="width: 9%; text-align: right;">22,750,726</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - B20"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - D20">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - D20"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - F20">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - F20"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - H20">$</td><td style="width: 9%; text-align: right;">22,750,726</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - H20"> </td></tr><tr><td>U.S. special revenue and assessments</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - B21"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - B21"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - D21"> </td><td style="width: 9%; text-align: right;">7,453,922</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - D21"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - F21"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - F21"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - H21"> </td><td style="width: 9%; text-align: right;">7,453,922</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - H21"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Corporate securities</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - B22"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">0</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - B22"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - D22"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">42,954,941</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - D22"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - F22"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">0</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - F22"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - H22"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">42,954,941</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - H22"> </td></tr><tr><td>Total fixed maturities</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - B23"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">22,750,726</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - B23"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - D23"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">50,408,863</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - D23"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - F23"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">0</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - F23"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - H23"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">73,159,589</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - H23"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Equity securities:</td><td style="width: 1%;" title="Note 4 - Investment in FMS - B24"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - B24"> </td><td> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - D24"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - D24"> </td><td> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - F24"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - F24"> </td><td> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - H24"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Investment in FMS - H24"> </td></tr><tr><td>Common stocks</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - B25"> </td><td style="width: 9%; text-align: right;">75,400,093</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - B25"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - D25"> </td><td style="width: 9%; text-align: right;">5,571,600</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - D25"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - F25"> </td><td style="width: 9%; text-align: right;">3,368,748</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - F25"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - H25"> </td><td style="width: 9%; text-align: right;">84,340,441</td><td style="width: 1%; text-align: left;" title="Note 4 - Investment in FMS - H25"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Limited liability companies</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - B26"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">0</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - B26"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - D26"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">0</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - D26"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - F26"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">85,810,435</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - F26"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - H26"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">85,810,435</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - H26"> </td></tr><tr><td>Total equity securities</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - B27"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">75,400,093</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - B27"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - D27"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">5,571,600</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - D27"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - F27"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">89,179,183</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - F27"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - H27"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">170,150,876</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - H27"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Short-term investments</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - B28"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">9,808,824</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - B28"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - D28"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">0</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - D28"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - F28"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">0</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - F28"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - H28"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">9,808,824</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - H28"> </td></tr><tr><td>Total financial assets</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - B29">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">107,959,643</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - B29"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - D29">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">55,980,463</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - D29"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - F29">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">89,179,183</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - F29"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - H29">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">253,119,289</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Investment in FMS - H29"> </td></tr></table>
22707968
0
0
22707968
0
7415539
0
7415539
0
42050758
0
42050758
22707968
49466297
0
72174265
79362164
5415600
3572977
88350741
0
0
85567443
85567443
79362164
5415600
89140420
173918184
7390012
0
0
7390012
109460144
54881897
89140420
253482461
22750726
0
0
22750726
0
7453922
0
7453922
0
42954941
0
42954941
22750726
50408863
0
73159589
75400093
5571600
3368748
84340441
0
0
85810435
85810435
75400093
5571600
89179183
170150876
9808824
0
0
9808824
107959643
55980463
89179183
253119289
114959727
95553354
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt; font-weight: bold;">Change in Recurring Fair Value Measurements</span> </div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">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.</span> </div>
<div style="font-size: 10pt; color: #000000;"> </div>
<table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td> </td><td style="width: 1%;" title="Note 4 - Equity Sec Measured at FV - B3"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Equity Sec Measured at FV - B3"> </td><td> </td><td style="width: 1%;" title="Note 4 - Equity Sec Measured at FV - D3"> </td><td style="width: 9%; text-align: center;">Investments in</td><td style="width: 1%;" title="Note 4 - Equity Sec Measured at FV - D3"> </td><td> </td><td style="width: 1%;" title="Note 4 - Equity Sec Measured at FV - F3"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Equity Sec Measured at FV - F3"> </td></tr><tr><td> </td><td style="width: 1%;" title="Note 4 - Equity Sec Measured at FV - B4"> </td><td style="width: 9%; text-align: center;">Investments in</td><td style="width: 1%;" title="Note 4 - Equity Sec Measured at FV - B4"> </td><td> </td><td style="width: 1%;" title="Note 4 - Equity Sec Measured at FV - D4"> </td><td style="width: 9%; text-align: center;">Limited Liability</td><td style="width: 1%;" title="Note 4 - Equity Sec Measured at FV - D4"> </td><td> </td><td style="width: 1%;" title="Note 4 - Equity Sec Measured at FV - F4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 - Equity Sec Measured at FV - F4"> </td></tr><tr><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - B5"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Common Stocks</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - B5"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - D5"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Companies</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - D5"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - F5"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Total</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - F5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Balance at December 31, 2024</td><td style="width: 1%; text-align: left;" title="Note 4 - Equity Sec Measured at FV - B6">$</td><td style="width: 9%; text-align: right;">3,064,983</td><td style="width: 1%; text-align: left;" title="Note 4 - Equity Sec Measured at FV - B6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Equity Sec Measured at FV - D6">$</td><td style="width: 9%; text-align: right;">82,654,596</td><td style="width: 1%; text-align: left;" title="Note 4 - Equity Sec Measured at FV - D6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Equity Sec Measured at FV - F6">$</td><td style="width: 9%; text-align: right;">85,719,579</td><td style="width: 1%; text-align: left;" title="Note 4 - Equity Sec Measured at FV - F6"> </td></tr><tr><td>Unrealized gains </td><td style="width: 1%; text-align: left;" title="Note 4 - Equity Sec Measured at FV - B7"> </td><td style="width: 9%; text-align: right;">303,765</td><td style="width: 1%; text-align: left;" title="Note 4 - Equity Sec Measured at FV - B7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Equity Sec Measured at FV - D7"> </td><td style="width: 9%; text-align: right;">4,146,711</td><td style="width: 1%; text-align: left;" title="Note 4 - Equity Sec Measured at FV - D7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 - Equity Sec Measured at FV - F7"> </td><td style="width: 9%; text-align: right;">4,450,476</td><td style="width: 1%; text-align: left;" title="Note 4 - Equity Sec Measured at FV - F7"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Sales</td><td style="width: 1%; text-align: left; border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 - Equity Sec Measured at FV - B8"> </td><td style="width: 9%; text-align: right; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;">0</td><td style="width: 1%; text-align: left; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 - Equity Sec Measured at FV - B8"> </td><td> </td><td style="width: 1%; text-align: left; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 - Equity Sec Measured at FV - D8"> </td><td style="width: 9%; text-align: right; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;">(990,872</td><td style="width: 1%; text-align: left; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 - Equity Sec Measured at FV - D8">) </td><td> </td><td style="width: 1%; text-align: left; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 - Equity Sec Measured at FV - F8"> </td><td style="width: 9%; text-align: right; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;">(990,872</td><td style="width: 1%; text-align: left; border-bottom: 1px solid rgb(0, 0, 0); border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 - Equity Sec Measured at FV - F8">) </td></tr><tr><td>Balance at December 31, 2025</td><td style="width: 1%; text-align: left; border-top: 1px solid rgb(0, 0, 0); border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 - Equity Sec Measured at FV - B9"> </td><td style="width: 9%; text-align: right; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;">3,368,748</td><td style="width: 1%; text-align: left; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 - Equity Sec Measured at FV - B9"> </td><td> </td><td style="width: 1%; text-align: left; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 - Equity Sec Measured at FV - D9"> </td><td style="width: 9%; text-align: right; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;">85,810,435</td><td style="width: 1%; text-align: left; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 - Equity Sec Measured at FV - D9"> </td><td> </td><td style="width: 1%; text-align: left; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 - Equity Sec Measured at FV - F9"> </td><td style="width: 9%; text-align: right; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;">89,179,183</td><td style="width: 1%; text-align: left; border-bottom-width: medium; border-bottom-style: none; border-bottom-color: currentcolor; border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 - Equity Sec Measured at FV - F9"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Unrealized gains (losses)</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - B10"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">204,229</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - B10"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - D10"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(242,992</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - D10">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - F10"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(38,763</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - F10">) </td></tr><tr><td>Balance at March 31, 2026</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - B11">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">3,572,977</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - B11"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - D11">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">85,567,443</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - D11"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 - Equity Sec Measured at FV - F11">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">89,140,420</td><td style="width: 1%; text-align: left; border-bottom: 3px double rgb(0, 0, 0); border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 - Equity Sec Measured at FV - F11"> </td></tr></table>
3064983
82654596
85719579
303765
4146711
4450476
0
990872
990872
3368748
85810435
89179183
204229
-242992
-38763
3572977
85567443
89140420
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">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.</span> </div>
<div style="text-align: justify; color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 38%;"></td></tr><tr><td> </td><td style="width: 1%;" title="Note 4 FV Meas for Level 3 Instrument - B2"> </td><td style="text-align: center; width: 9%;">Fair Value at</td><td style="width: 1%;" title="Note 4 FV Meas for Level 3 Instrument - B2"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Meas for Level 3 Instrument - D2"> </td><td style="text-align: center; width: 9%;">Fair Value at</td><td style="width: 1%;" title="Note 4 FV Meas for Level 3 Instrument - D2"> </td><td> </td><td> </td></tr><tr><td>Financial Assets</td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 FV Meas for Level 3 Instrument - B3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">March 31, 2026</td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 FV Meas for Level 3 Instrument - B3"> </td><td> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 FV Meas for Level 3 Instrument - D3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">December 31, 2025</td><td style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor; width: 1%;" title="Note 4 FV Meas for Level 3 Instrument - D3"> </td><td> </td><td style="text-align: center;">Valuation Technique</td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Limited liability companies</td><td style="width: 1%; text-align: left;" title="Note 4 FV Meas for Level 3 Instrument - B4">$</td><td style="width: 9%; text-align: right;">85,567,443</td><td style="width: 1%; text-align: left;" title="Note 4 FV Meas for Level 3 Instrument - B4"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Meas for Level 3 Instrument - D4">$</td><td style="width: 9%; text-align: right;">85,810,435</td><td style="width: 1%; text-align: left;" title="Note 4 FV Meas for Level 3 Instrument - D4"> </td><td> </td><td style="text-align: center;">Pricing Model</td></tr><tr><td>Common stocks</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 FV Meas for Level 3 Instrument - B5"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">3,572,977</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 FV Meas for Level 3 Instrument - B5"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 FV Meas for Level 3 Instrument - D5"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">3,368,748</td><td style="width: 1%; text-align: left; border-bottom: 1px solid rgb(0, 0, 0); border-left-width: medium; border-left-style: none; border-left-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 FV Meas for Level 3 Instrument - D5"> </td><td> </td><td style="text-align: center;">Pricing Model</td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Total</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 FV Meas for Level 3 Instrument - B6">$</td><td style="width: 9%; text-align: right; border-bottom: 3px double black;">89,140,420</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 FV Meas for Level 3 Instrument - B6"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 FV Meas for Level 3 Instrument - D6">$</td><td style="width: 9%; text-align: right; border-bottom: 3px double black;">89,179,183</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 FV Meas for Level 3 Instrument - D6"> </td><td> </td><td> </td></tr></table>
85567443
85810435
3572977
3368748
89140420
89179183
<div style="color: #000000;"> <span style="font-size: 10.0pt; font-weight: bold;">Investments in Certain Entities Carried at Fair Value Using Net Asset Value per Share</span> </div>
<div style="font-size: 10pt; color: #000000;"> </div>
<table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - B3"> </td><td style="width: 9%; text-align: center;">Fair Value at</td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - B3"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - D3"> </td><td style="width: 9%; text-align: center;">Unfunded</td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - D3"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F3"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F3"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H3"> </td><td style="width: 9%; text-align: center;">Redemption Notice</td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H3"> </td></tr><tr><td style="text-decoration: underline;">Investment Category</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 Assets Carried at NAV - B4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 Assets Carried at NAV - B4"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 Assets Carried at NAV - D4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Commitments</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 Assets Carried at NAV - D4"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 Assets Carried at NAV - F4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Redemption Frequency</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 Assets Carried at NAV - F4"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 Assets Carried at NAV - H4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Period</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 Assets Carried at NAV - H4"> </td></tr><tr><td>Redeemable</td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - B5"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - B5"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - D5"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - D5"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F5"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F5"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H5"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="padding-left: 10px;"> Limited partnership</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - B6">$</td><td style="width: 9%; text-align: right;">67,060,154</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - B6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - D6">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - D6"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F6"> </td><td style="width: 9%; text-align: center;">Quarterly</td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - H6"> </td><td style="width: 9%; text-align: center;">45 days</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - H6"> </td></tr><tr><td>Non-redeemable</td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - B7"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - B7"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - D7"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - D7"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F7"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F7"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H7"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H7"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="padding-left: 10px;"> Limited liability companies</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - B8"> </td><td style="width: 9%; text-align: right;">7,851,247</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - B8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - D8"> </td><td style="width: 9%; text-align: right;">2,580,042</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - D8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - F8"> </td><td style="width: 9%; text-align: right;">n/a</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - F8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - H8"> </td><td style="width: 9%; text-align: right;">n/a</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - H8"> </td></tr><tr><td style="padding-left: 10px;"> Limited partnerships</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 Assets Carried at NAV - B9"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">40,048,326</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 Assets Carried at NAV - B9"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 Assets Carried at NAV - D9"> </td><td style="width: 9%; text-align: right; border-bottom: 1px solid black;">5,804,849</td><td style="width: 1%; text-align: left; border-bottom: 1px solid black;" title="Note 4 Assets Carried at NAV - D9"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 4 Assets Carried at NAV - F9"> </td><td style="width: 9%; text-align: right; border-width: medium; border-style: none; border-color: currentcolor;">n/a</td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 4 Assets Carried at NAV - F9"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 4 Assets Carried at NAV - H9"> </td><td style="width: 9%; text-align: right; border-width: medium; border-style: none; border-color: currentcolor;">n/a</td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 4 Assets Carried at NAV - H9"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Total</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 Assets Carried at NAV - B10">$</td><td style="width: 9%; text-align: right; border-bottom: 3px double black;">114,959,727</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 Assets Carried at NAV - B10"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 Assets Carried at NAV - D10">$</td><td style="width: 9%; text-align: right; border-bottom: 3px double black;">8,384,891</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 Assets Carried at NAV - D10"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F10"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F10"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H10"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H10"> </td></tr></table><div style="font-size: 10pt; color: #000000;"> </div>
<table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - B12"> </td><td style="text-align: center; width: 9%;">Fair Value at</td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - B12"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - D12"> </td><td style="text-align: center; width: 9%;">Unfunded</td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - D12"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F12"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F12"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H12"> </td><td style="text-align: center; width: 9%;">Redemption Notice</td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H12"> </td></tr><tr><td style="text-decoration: underline;">Investment Category</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 Assets Carried at NAV - B13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">December 31, 2025</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 Assets Carried at NAV - B13"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 Assets Carried at NAV - D13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Commitments</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 Assets Carried at NAV - D13"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 Assets Carried at NAV - F13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Redemption Frequency</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 Assets Carried at NAV - F13"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 Assets Carried at NAV - H13"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Period</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 4 Assets Carried at NAV - H13"> </td></tr><tr><td>Redeemable</td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - B14"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - B14"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - D14"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - D14"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F14"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F14"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H14"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H14"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="padding-left: 10px;"> Limited partnership</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - B15">$</td><td style="width: 9%; text-align: right;">48,740,340</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - B15"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - D15">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - D15"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F15"> </td><td style="text-align: center; width: 9%;">Quarterly</td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F15"> </td><td> </td><td style="text-align: left; width: 1%;" title="Note 4 Assets Carried at NAV - H15"> </td><td style="text-align: center; width: 9%;">45 days</td><td style="text-align: left; width: 1%;" title="Note 4 Assets Carried at NAV - H15"> </td></tr><tr><td>Non-redeemable</td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - B16"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - B16"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - D16"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - D16"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F16"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - F16"> </td><td> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H16"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 Assets Carried at NAV - H16"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="padding-left: 10px;"> Limited liability companies</td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 4 Assets Carried at NAV - B17"> </td><td style="width: 9%; text-align: right; border-width: medium; border-style: none; border-color: currentcolor;">6,883,913</td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 4 Assets Carried at NAV - B17"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 4 Assets Carried at NAV - D17"> </td><td style="width: 9%; text-align: right; border-width: medium; border-style: none; border-color: currentcolor;">2,740,042</td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 4 Assets Carried at NAV - D17"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 4 Assets Carried at NAV - F17"> </td><td style="width: 9%; text-align: right; border-width: medium; border-style: none; border-color: currentcolor;">n/a</td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 4 Assets Carried at NAV - F17"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 4 Assets Carried at NAV - H17"> </td><td style="width: 9%; text-align: right; border-width: medium; border-style: none; border-color: currentcolor;">n/a</td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 4 Assets Carried at NAV - H17"> </td></tr><tr><td style="padding-left: 10px;"> Limited partnerships</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 Assets Carried at NAV - B18"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">39,929,101</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 Assets Carried at NAV - B18"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 Assets Carried at NAV - D18"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">1,069,085</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 4 Assets Carried at NAV - D18"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - F18"> </td><td style="width: 9%; text-align: right;">n/a</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - F18"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - H18"> </td><td style="width: 9%; text-align: right;">n/a</td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - H18"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="padding-left: 10px;">Total</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 Assets Carried at NAV - B18">$</td><td style="width: 9%; text-align: right; border-bottom: 3px double black;">95,553,354</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 Assets Carried at NAV - B18"> </td><td> </td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 Assets Carried at NAV - D18">$</td><td style="width: 9%; text-align: right; border-bottom: 3px double black;">3,809,127</td><td style="width: 1%; text-align: left; border-bottom: 3px double black;" title="Note 4 Assets Carried at NAV - D18"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - F18"> </td><td style="width: 9%; text-align: right;"></td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - F18"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - H18"> </td><td style="width: 9%; text-align: right;"></td><td style="width: 1%; text-align: left;" title="Note 4 Assets Carried at NAV - H18"> </td></tr></table>
67060154
0
Quarterly
P45D
7851247
2580042
40048326
5804849
114959727
8384891
48740340
0
Quarterly
P45D
6883913
2740042
39929101
1069085
95553354
3809127
0
725032
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">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:</span> </div>
<div style="font-size: 10pt; color: #000000;"> </div>
<table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B3"> </td><td style="width: 9%; text-align: center;">Carrying</td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - B3"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - D3"> </td><td style="width: 9%; text-align: center;">Estimated</td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - D3"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - F3"> </td><td style="width: 9%; text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - F3"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - H3"> </td><td style="width: 9%; text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - H3"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - J3"> </td><td style="width: 9%; text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - J3"> </td></tr><tr><td style="border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-left-width: medium; border-left-style: none; border-left-color: currentcolor;">March 31, 2026</td><td style="width: 1%; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - B4"> </td><td style="width: 9%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;">Amount</td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - B4"> </td><td style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - D4"> </td><td style="width: 9%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;">Fair Value</td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - D4"> </td><td style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - F4"> </td><td style="width: 9%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;">Level 1</td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - F4"> </td><td style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - H4"> </td><td style="width: 9%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;">Level 2</td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - H4"> </td><td style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - J4"> </td><td style="width: 9%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;">Level 3</td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 FV Based on Inputs Used - J4"> </td></tr><tr><td>Assets</td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B5"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B5"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - D5"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - D5"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - F5"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - F5"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - H5"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - H5"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - J5"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - J5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Equity securities, at cost</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B6">$</td><td style="width: 9%; text-align: right;">13,664,543</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D6">$</td><td style="width: 9%; text-align: right;">13,664,543</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F6">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H6">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J6">$</td><td style="width: 9%; text-align: right;">13,664,543</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J6"> </td></tr><tr><td>Mortgage loans on real estate </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B7"> </td><td style="width: 9%; text-align: right;">13,625,829</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D7"> </td><td style="width: 9%; text-align: right;">13,125,011</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F7"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H7"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J7"> </td><td style="width: 9%; text-align: right;">13,125,011</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J7"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Notes receivable</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B8"> </td><td style="width: 9%; text-align: right;">8,257,713</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D8"> </td><td style="width: 9%; text-align: right;">8,254,172</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F8"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H8"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J8"> </td><td style="width: 9%; text-align: right;">8,254,172</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J8"> </td></tr><tr><td>Policy loans</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B9"> </td><td style="width: 9%; text-align: right;">5,267,121</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D9"> </td><td style="width: 9%; text-align: right;">5,267,121</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F9"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H9"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J9"> </td><td style="width: 9%; text-align: right;">5,267,121</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J9"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Accrued investment income</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B10"> </td><td style="width: 9%; text-align: right;">1,142,164</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D10"> </td><td style="width: 9%; text-align: right;">1,142,164</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F10"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H10"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J10"> </td><td style="width: 9%; text-align: right;">1,142,164</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J10"> </td></tr><tr><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B11"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B11"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - D11"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - D11"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - F11"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - F11"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - H11"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - H11"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - J11"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - J11"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Liabilities</td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B12"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B12"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - D12"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - D12"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - F12"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - F12"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - H12"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - H12"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - J12"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - J12"> </td></tr><tr><td>Policy claims and benefits payable</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B13"> </td><td style="width: 9%; text-align: right;">6,208,011</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D13"> </td><td style="width: 9%; text-align: right;">6,208,011</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F13"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H13"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J13"> </td><td style="width: 9%; text-align: right;">6,208,011</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J13"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Dividend and endowment accumulations</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B14"> </td><td style="width: 9%; text-align: right;">14,490,086</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D14"> </td><td style="width: 9%; text-align: right;">14,490,086</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F14"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H14"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J14"> </td><td style="width: 9%; text-align: right;">14,490,086</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J14"> </td></tr></table><div style="font-size: 10pt; color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B17"> </td><td style="width: 9%; text-align: center;">Carrying</td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - B17"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - D17"> </td><td style="width: 9%; text-align: center;">Estimated</td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - D17"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - F17"> </td><td style="width: 9%; text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - F17"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - H17"> </td><td style="width: 9%; text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - H17"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - J17"> </td><td style="width: 9%; text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 4 FV Based on Inputs Used - J17"> </td></tr><tr><td style="border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-left-width: medium; border-left-style: none; border-left-color: currentcolor;">December 31, 2025</td><td style="width: 1%; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - B18"> </td><td style="width: 9%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;">Amount</td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - B18"> </td><td style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - D18"> </td><td style="width: 9%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;">Fair Value</td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - D18"> </td><td style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - F18"> </td><td style="width: 9%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;">Level 1</td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - F18"> </td><td style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - H18"> </td><td style="width: 9%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;">Level 2</td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - H18"> </td><td style="text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;"> </td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;" title="Note 4 FV Based on Inputs Used - J18"> </td><td style="width: 9%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor;">Level 3</td><td style="width: 1%; text-align: center; border-bottom: 1px solid rgb(0, 0, 0); border-top-width: medium; border-top-style: none; border-top-color: currentcolor; border-right-width: medium; border-right-style: none; border-right-color: currentcolor;" title="Note 4 FV Based on Inputs Used - J18"> </td></tr><tr><td>Assets</td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B19"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B19"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - D19"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - D19"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - F19"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - F19"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - H19"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - H19"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - J19"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - J19"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Equity securities, at cost</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B20">$</td><td style="width: 9%; text-align: right;">20,510,250</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B20"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D20">$</td><td style="width: 9%; text-align: right;">20,510,250</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D20"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F20">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F20"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H20">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H20"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J20">$</td><td style="width: 9%; text-align: right;">20,510,250</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J20"> </td></tr><tr><td>Mortgage loans on real estate </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B21"> </td><td style="width: 9%; text-align: right;">14,402,304</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B21"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D21"> </td><td style="width: 9%; text-align: right;">13,637,402</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D21"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F21"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F21"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H21"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H21"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J21"> </td><td style="width: 9%; text-align: right;">13,637,402</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J21"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Notes receivable</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B22"> </td><td style="width: 9%; text-align: right;">8,708,417</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B22"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D22"> </td><td style="width: 9%; text-align: right;">8,675,239</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D22"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F22"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F22"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H22"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H22"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J22"> </td><td style="width: 9%; text-align: right;">8,675,239</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J22"> </td></tr><tr><td>Policy loans</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B23"> </td><td style="width: 9%; text-align: right;">5,361,164</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B23"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D23"> </td><td style="width: 9%; text-align: right;">5,361,164</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D23"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F23"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F23"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H23"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H23"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J23"> </td><td style="width: 9%; text-align: right;">5,361,164</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J23"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Accrued investment income</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B24"> </td><td style="width: 9%; text-align: right;">1,129,139</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B24"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D24"> </td><td style="width: 9%; text-align: right;">1,129,139</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D24"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F24"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F24"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H24"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H24"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J24"> </td><td style="width: 9%; text-align: right;">1,129,139</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J24"> </td></tr><tr><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B25"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B25"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - D25"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - D25"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - F25"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - F25"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - H25"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - H25"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - J25"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - J25"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Liabilities</td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B26"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - B26"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - D26"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - D26"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - F26"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - F26"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - H26"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - H26"> </td><td> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - J26"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 4 FV Based on Inputs Used - J26"> </td></tr><tr><td>Policy claims and benefits payable</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B27"> </td><td style="width: 9%; text-align: right;">3,456,000</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B27"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D27"> </td><td style="width: 9%; text-align: right;">3,456,000</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D27"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F27"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F27"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H27"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H27"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J27"> </td><td style="width: 9%; text-align: right;">3,456,000</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J27"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Dividend and endowment accumulations</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B28"> </td><td style="width: 9%; text-align: right;">14,568,544</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - B28"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D28"> </td><td style="width: 9%; text-align: right;">14,568,544</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - D28"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F28"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - F28"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H28"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - H28"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J28"> </td><td style="width: 9%; text-align: right;">14,568,544</td><td style="width: 1%; text-align: left;" title="Note 4 FV Based on Inputs Used - J28"> </td></tr></table>
13664543
13664543
0
0
13664543
13625829
13125011
0
0
13125011
8257713
8254172
0
0
8254172
5267121
5267121
0
0
5267121
1142164
1142164
0
0
1142164
6208011
6208011
0
0
6208011
14490086
14490086
0
0
14490086
20510250
20510250
0
0
20510250
14402304
13637402
0
0
13637402
8708417
8675239
0
0
8675239
5361164
5361164
0
0
5361164
1129139
1129139
0
0
1129139
3456000
3456000
0
0
3456000
14568544
14568544
0
0
14568544
0.04
0.08
<div style="font-size: 10pt; font-weight: bold;">Note 5 – Future Policy Benefits</div><div> </div><div style="margin: 0in; font-size: 10pt; text-align: justify;">In 2025 and 2026, the Company updated the net premium ratio when updating
for actual historical experience; future cash flow assumptions were reviewed
and updated if appropriate.</div><div> </div><div style="margin: 0in; font-size: 10pt; text-align: justify;">The following tables summarize balances and changes in the liability for
future policy benefits for nonparticipating traditional and limited-payment
contracts. </div><div> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 0.5%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Traditional Premium Paying</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Traditional Limited Pay</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Total</td></tr><tr><td> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - C4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Present Value of
Net Premiums</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - C4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - E4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Present Value
of Benefits</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - E4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - G4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Present Value of
Net Premiums</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - G4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - I4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Present Value
of Benefits</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - I4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - K4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Present Value of
Net Premiums</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - K4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - M4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Present Value
of Benefits</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - M4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Balance, beginning of year</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C5">$</td><td style="width: 9%; text-align: right;">3,971,915</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E5">$</td><td style="width: 9%; text-align: right;">21,601,667</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G5">$</td><td style="width: 9%; text-align: right;">(10,695,983</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G5">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I5">$</td><td style="width: 9%; text-align: right;">28,599,439</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K5">$</td><td style="width: 9%; text-align: right;">(6,724,068</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K5">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M5">$</td><td style="width: 9%; text-align: right;">50,201,106</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M5"> </td></tr><tr><td>Beginning balance at original discount rate</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C6"> </td><td style="width: 9%; text-align: right;">4,193,882</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E6"> </td><td style="width: 9%; text-align: right;">22,968,581</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G6"> </td><td style="width: 9%; text-align: right;">(11,298,224</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G6">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I6"> </td><td style="width: 9%; text-align: right;">30,964,035</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K6"> </td><td style="width: 9%; text-align: right;">(7,104,342</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K6">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M6"> </td><td style="width: 9%; text-align: right;">53,932,616</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M6"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Effect of changes in CF considerations</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C7"> </td><td style="width: 9%; text-align: right;">804,625</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E7"> </td><td style="width: 9%; text-align: right;">1,146,539</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G7"> </td><td style="width: 9%; text-align: right;">2,412,098</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I7"> </td><td style="width: 9%; text-align: right;">2,759,828</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K7"> </td><td style="width: 9%; text-align: right;">3,216,723</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M7"> </td><td style="width: 9%; text-align: right;">3,906,367</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M7"> </td></tr><tr><td>Effect of actual variances from expected</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - C8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(123,404</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - C8">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - E8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(182,893</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - E8">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - G8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(163,991</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - G8">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - I8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(201,740</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - I8">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - K8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(287,395</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - K8">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - M8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(384,633</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - M8">) </td></tr><tr style="background-color: rgb(204, 238, 255);"><td> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - C9"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - C9"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - E9"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - E9"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - G9"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - G9"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - I9"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - I9"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - K9"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - K9"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - M9"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - M9"> </td></tr><tr><td>Adjusted beginning of period balance</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C10"> </td><td style="width: 9%; text-align: right;">4,875,103</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E10"> </td><td style="width: 9%; text-align: right;">23,932,227</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G10"> </td><td style="width: 9%; text-align: right;">(9,050,117</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G10">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I10"> </td><td style="width: 9%; text-align: right;">33,522,123</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K10"> </td><td style="width: 9%; text-align: right;">(4,175,014</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K10">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M10"> </td><td style="width: 9%; text-align: right;">57,454,350</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M10"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>New issuances</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C11"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E11"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G11"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I11"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K11"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M11"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M11"> </td></tr><tr><td>Interest accrual</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C12"> </td><td style="width: 9%; text-align: right;">301,005</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E12"> </td><td style="width: 9%; text-align: right;">2,025,061</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G12"> </td><td style="width: 9%; text-align: right;">699,261</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I12"> </td><td style="width: 9%; text-align: right;">1,536,997</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K12"> </td><td style="width: 9%; text-align: right;">1,000,266</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M12"> </td><td style="width: 9%; text-align: right;">3,562,058</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M12"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Premiums</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C13"> </td><td style="width: 9%; text-align: right;">(244,724</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C13">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E13"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G13"> </td><td style="width: 9%; text-align: right;">(8,309</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G13">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I13"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K13"> </td><td style="width: 9%; text-align: right;">(253,033</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K13">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M13"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M13"> </td></tr><tr><td>Benefit Payments</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - C14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">-</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - C14"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - E14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(1,980,822</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - E14">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - G14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">-</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - G14"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - I14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(1,350,001</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - I14">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - K14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">-</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - K14"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - M14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(3,330,823</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - M14">) </td></tr><tr style="background-color: rgb(204, 238, 255);"><td> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - C15"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - C15"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - E15"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - E15"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - G15"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - G15"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - I15"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - I15"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - K15"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - K15"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - M15"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - M15"> </td></tr><tr><td>Ending balance at original discount rate</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C16"> </td><td style="width: 9%; text-align: right;">4,931,384</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E16"> </td><td style="width: 9%; text-align: right;">23,976,466</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G16"> </td><td style="width: 9%; text-align: right;">(8,359,165</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G16">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I16"> </td><td style="width: 9%; text-align: right;">33,709,119</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K16"> </td><td style="width: 9%; text-align: right;">(3,427,781</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K16">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M16"> </td><td style="width: 9%; text-align: right;">57,685,585</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M16"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Effect of changes in discount rate</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C17"> </td><td style="width: 9%; text-align: right;">(314,063</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C17">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E17"> </td><td style="width: 9%; text-align: right;">(1,702,940</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E17">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G17"> </td><td style="width: 9%; text-align: right;">529,586</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G17"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I17"> </td><td style="width: 9%; text-align: right;">(3,157,162</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I17">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K17"> </td><td style="width: 9%; text-align: right;">215,523</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K17"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M17"> </td><td style="width: 9%; text-align: right;">(4,860,102</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M17">) </td></tr><tr><td> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - C18"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - C18"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - E18"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - E18"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - G18"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - G18"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - I18"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - I18"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - K18"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - K18"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - M18"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - M18"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Balance, end of year</td><td> </td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 5 - Changes in Liab for FPB - C19">$</td><td style="width: 9%; text-align: right; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;">4,617,321</td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 5 - Changes in Liab for FPB - C19"> </td><td> </td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 5 - Changes in Liab for FPB - E19">$</td><td style="width: 9%; text-align: right; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;">22,273,526</td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 5 - Changes in Liab for FPB - E19"> </td><td> </td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 5 - Changes in Liab for FPB - G19">$</td><td style="width: 9%; text-align: right; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;">(7,829,579</td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 5 - Changes in Liab for FPB - G19">) </td><td> </td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 5 - Changes in Liab for FPB - I19">$</td><td style="width: 9%; text-align: right; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;">30,551,957</td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 5 - Changes in Liab for FPB - I19"> </td><td> </td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 5 - Changes in Liab for FPB - K19">$</td><td style="width: 9%; text-align: right; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;">(3,212,258</td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 5 - Changes in Liab for FPB - K19">) </td><td> </td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 5 - Changes in Liab for FPB - M19">$</td><td style="width: 9%; text-align: right; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;">52,825,483</td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 5 - Changes in Liab for FPB - M19"> </td></tr><tr><td> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - C20"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - C20"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - E20"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - E20"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - G20"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - G20"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - I20"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - I20"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - K20"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - K20"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - M20"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - M20"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Net liability for future policy benefits</td><td> </td><td colspan="7" style="text-align: center;">$17,656,205</td><td> </td><td colspan="7" style="text-align: center;">$38,381,536</td><td> </td><td colspan="7" style="text-align: center;">$56,037,741</td></tr><tr><td> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - C22"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - C22"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - E22"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - E22"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - G22"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - G22"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - I22"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - I22"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - K22"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - K22"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - M22"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - M22"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Deferred profit liability</td><td> </td><td colspan="7" style="text-align: center;">$0</td><td> </td><td colspan="7" style="text-align: center;">$1,169,982</td><td> </td><td colspan="7" style="text-align: center;">$1,169,982</td></tr></table><div> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 0.5%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2025</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Traditional Premium Paying</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Traditional Limited Pay</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Total</td></tr><tr><td> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - C4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Present Value of
Net Premiums</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - C4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - E4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Present Value
of Benefits</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - E4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - G4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Present Value of
Net Premiums</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - G4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - I4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Present Value
of Benefits</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - I4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - K4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Present Value of
Net Premiums</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - K4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - M4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Present Value
of Benefits</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - M4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Balance, beginning of year</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C5"> </td><td style="width: 9%; text-align: right;">4,293,082</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E5"> </td><td style="width: 9%; text-align: right;">22,118,278</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G5"> </td><td style="width: 9%; text-align: right;">(12,243,574</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G5">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I5"> </td><td style="width: 9%; text-align: right;">26,826,750</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K5"> </td><td style="width: 9%; text-align: right;">(7,950,492</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K5">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M5"> </td><td style="width: 9%; text-align: right;">48,945,028</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M5"> </td></tr><tr><td>Beginning balance at original discount rate</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C6"> </td><td style="width: 9%; text-align: right;">4,711,513</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E6"> </td><td style="width: 9%; text-align: right;">24,563,973</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G6"> </td><td style="width: 9%; text-align: right;">(13,416,148</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G6">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I6"> </td><td style="width: 9%; text-align: right;">30,636,495</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K6"> </td><td style="width: 9%; text-align: right;">(8,704,635</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K6">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M6"> </td><td style="width: 9%; text-align: right;">55,200,468</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M6"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Effect of changes in CF considerations</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C7"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E7"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G7"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I7"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K7"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M7"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M7"> </td></tr><tr><td>Effect of actual variances from expected</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - C8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(262,585</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C8">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - E8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(280,702</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - E8">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - G8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">682,111</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - G8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - I8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">745,613</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - I8"> </td><td style="border-width: medium; border-style: none; border-color: currentcolor;"> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - K8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">419,526</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - M8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">464,911</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M8"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - C9"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - C9"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - E9"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - E9"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - G9"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - G9"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - I9"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - I9"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - K9"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - K9"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - M9"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - M9"> </td></tr><tr><td>Adjusted beginning of period balance</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C10"> </td><td style="width: 9%; text-align: right;">4,448,928</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E10"> </td><td style="width: 9%; text-align: right;">24,283,271</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G10"> </td><td style="width: 9%; text-align: right;">(12,734,037</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G10">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I10"> </td><td style="width: 9%; text-align: right;">31,382,108</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K10"> </td><td style="width: 9%; text-align: right;">(8,285,109</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K10">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M10"> </td><td style="width: 9%; text-align: right;">55,665,379</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M10"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>New issuances</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C11"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E11"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G11"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I11"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K11"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M11"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M11"> </td></tr><tr><td>Interest accrual</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C12"> </td><td style="width: 9%; text-align: right;">958,415</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E12"> </td><td style="width: 9%; text-align: right;">1,062,781</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G12"> </td><td style="width: 9%; text-align: right;">290,511</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I12"> </td><td style="width: 9%; text-align: right;">(70,475</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I12">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K12"> </td><td style="width: 9%; text-align: right;">1,248,926</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M12"> </td><td style="width: 9%; text-align: right;">992,306</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M12"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Premiums</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C13"> </td><td style="width: 9%; text-align: right;">(167,360</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C13">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E13"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G13"> </td><td style="width: 9%; text-align: right;">(8,009</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G13">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I13"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K13"> </td><td style="width: 9%; text-align: right;">(175,369</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K13">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M13"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M13"> </td></tr><tr><td>Benefit Payments</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - C14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">-</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - C14"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - E14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(583,546</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - E14">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - G14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">-</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - G14"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - I14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(391,763</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - I14">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - K14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">-</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - K14"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - M14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(975,309</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - M14">) </td></tr><tr style="background-color: rgb(204, 238, 255);"><td> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - C15"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - C15"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - E15"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - E15"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - G15"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - G15"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - I15"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - I15"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - K15"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - K15"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - M15"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - M15"> </td></tr><tr><td>Ending balance at original discount rate</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C16"> </td><td style="width: 9%; text-align: right;">5,239,983</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E16"> </td><td style="width: 9%; text-align: right;">24,762,506</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G16"> </td><td style="width: 9%; text-align: right;">(12,451,535</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G16">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I16"> </td><td style="width: 9%; text-align: right;">30,919,870</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K16"> </td><td style="width: 9%; text-align: right;">(7,211,552</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K16">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M16"> </td><td style="width: 9%; text-align: right;">55,682,376</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M16"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Effect of changes in discount rate</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C17"> </td><td style="width: 9%; text-align: right;">(369,914</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C17">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E17"> </td><td style="width: 9%; text-align: right;">(1,970,584</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E17">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G17"> </td><td style="width: 9%; text-align: right;">867,412</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G17"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I17"> </td><td style="width: 9%; text-align: right;">(3,150,783</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I17">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K17"> </td><td style="width: 9%; text-align: right;">497,498</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K17"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M17"> </td><td style="width: 9%; text-align: right;">(5,121,367</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M17">) </td></tr><tr><td> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - C18"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - C18"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - E18"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - E18"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - G18"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - G18"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - I18"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - I18"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - K18"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - K18"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - M18"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - M18"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Balance, end of year</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - C19">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">4,870,069</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - C19"></td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - E19">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">22,791,922</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - E19"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - G19">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(11,584,123</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - G19">)</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - I19">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">27,769,087</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - I19"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - K19">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(6,714,054</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - K19">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - M19">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">50,561,009</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M19"> </td></tr><tr><td> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - C20"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - C20"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - E20"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - E20"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - G20"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - G20"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - I20"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - I20"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - K20"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - K20"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - M20"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - M20"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Net liability for future policy benefits</td><td> </td><td colspan="7" style="text-align: center;">$17,921,853</td><td> </td><td colspan="7" style="text-align: center;">$39,353,210</td><td> </td><td colspan="7" style="text-align: center;">$57,275,063</td></tr><tr><td> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - C22"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - C22"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - E22"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - E22"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - G22"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - G22"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - I22"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - I22"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - K22"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - K22"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - M22"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - M22"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Deferred profit liability</td><td> </td><td colspan="7" style="text-align: center;">$0</td><td> </td><td colspan="7" style="text-align: center;">$749,626</td><td> </td><td colspan="7" style="text-align: center;">$749,626</td></tr></table><div> </div><div style="margin: 0in; font-size: 10pt; text-align: justify;">The following table reconciles the net liability for future policy
benefits to the liability for future policy benefits in the consolidated
balance sheet. The DPL for the limited pay products is presented together with
the liability for future policy benefits in the consolidated balance sheet.
Furthermore, there is a block of participating policies that was deemed outside
the scope of the changes related to the LFPB as a result of ASU 2018-12. Thus
this block continues to hold reserves consistent with historical. Lastly, a block
that is 100% coinsured to Park Avenue Life Insurance Company (PALIC) was not
considered in the roll forwards. The Company continues to hold a gross reserve
utilizing an approach consistent with the pre-ASU-2018-12 reserves, with a net
liability of zero.</div><div> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Reconcile Net Liability - B3"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Reconcile Net Liability - B3"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Reconcile Net Liability - D3"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">December 31, 2025</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Reconcile Net Liability - D3"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Traditional Premium Paying</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - B4">$</td><td style="width: 9%; text-align: right;">17,656,205</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - B4"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - D4">$</td><td style="width: 9%; text-align: right;">17,629,752</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - D4"> </td></tr><tr><td>Traditional Limited Pay</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - B5"> </td><td style="width: 9%; text-align: right;">39,551,518</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - B5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - D5"> </td><td style="width: 9%; text-align: right;">40,196,147</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - D5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Participating Policies</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - B6"> </td><td style="width: 9%; text-align: right;">40,664,988</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - B6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - D6"> </td><td style="width: 9%; text-align: right;">40,810,267</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - D6"> </td></tr><tr><td>Miscellaneous Reserves</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - B7"> </td><td style="width: 9%; text-align: right;">2,088,813</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - B7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - D7"> </td><td style="width: 9%; text-align: right;">2,108,019</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - D7"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>PALIC</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - B8"> </td><td style="width: 9%; text-align: right;">13,533,857</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - B8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - D8"> </td><td style="width: 9%; text-align: right;">13,559,661</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - D8"> </td></tr><tr><td>A&H</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Reconcile Net Liability - B9"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">67,354</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Reconcile Net Liability - B9"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Reconcile Net Liability - D9"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">67,452</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Reconcile Net Liability - D9"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Total</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Reconcile Net Liability - B10">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">113,562,735</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Reconcile Net Liability - B10"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Reconcile Net Liability - D10">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">114,371,298</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Reconcile Net Liability - D10"> </td></tr></table><div> </div><div style="margin: 0in; font-size: 10pt; text-align: justify;">The undiscounted expected future benefit payments and gross premiums as
of March 31, 2026, and 2025 are summarized as follows:</div><div> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Undiscounted Expected FPB - B4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Undiscounted</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Undiscounted Expected FPB - B4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Undiscounted Expected FPB - D4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Original
Present Value</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Undiscounted Expected FPB - D4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Undiscounted Expected FPB - F4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Current
Present Value</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Undiscounted Expected FPB - F4"> </td></tr><tr><td style="text-decoration: underline;">March 31, 2026</td><td title="Note 5 - Undiscounted Expected FPB - B5"> </td><td> </td><td title="Note 5 - Undiscounted Expected FPB - B5"> </td><td> </td><td title="Note 5 - Undiscounted Expected FPB - D5"> </td><td> </td><td title="Note 5 - Undiscounted Expected FPB - D5"> </td><td> </td><td title="Note 5 - Undiscounted Expected FPB - F5"> </td><td> </td><td title="Note 5 - Undiscounted Expected FPB - F5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Gross premiums</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - B6">$</td><td style="width: 9%; text-align: right;">11,632,160</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - B6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - D6">$</td><td style="width: 9%; text-align: right;">8,697,920</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - D6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - F6">$</td><td style="width: 9%; text-align: right;">8,144,074</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - F6"> </td></tr><tr><td>Benefits</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - B7"> </td><td style="width: 9%; text-align: right;">84,540,332</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - B7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - D7"> </td><td style="width: 9%; text-align: right;">57,685,586</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - D7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - F7"> </td><td style="width: 9%; text-align: right;">52,825,483</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - F7"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="text-decoration: underline;">March 31, 2025</td><td title="Note 5 - Undiscounted Expected FPB - B8"> </td><td> </td><td title="Note 5 - Undiscounted Expected FPB - B8"> </td><td> </td><td title="Note 5 - Undiscounted Expected FPB - D8"> </td><td> </td><td title="Note 5 - Undiscounted Expected FPB - D8"> </td><td> </td><td title="Note 5 - Undiscounted Expected FPB - F8"> </td><td> </td><td title="Note 5 - Undiscounted Expected FPB - F8"> </td></tr><tr><td>Gross premiums</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - B9">$</td><td style="width: 9%; text-align: right;">15,211,817</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - B9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - D9">$</td><td style="width: 9%; text-align: right;">11,037,712</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - D9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - F9">$</td><td style="width: 9%; text-align: right;">10,258,479</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - F9"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Benefits</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - B10"> </td><td style="width: 9%; text-align: right;">84,280,896</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - B10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - D10"> </td><td style="width: 9%; text-align: right;">55,682,375</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - D10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - F10"> </td><td style="width: 9%; text-align: right;">50,561,008</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - F10"> </td></tr></table><div> </div><div style="margin: 0in; font-size: 10pt; text-align: justify;">The weighted-average interest rates as of March 31, 2026, and 2025 are
summarized as follows:</div><div> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Weighted Avg Int Rate - B4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Weighted Avg Int Rate - B4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Weighted Avg Int Rate - D4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2025</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Weighted Avg Int Rate - D4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Original discount rate</td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Int Rate - B5"> </td><td style="width: 9%; text-align: right;">3.92</td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Int Rate - B5">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Int Rate - D5"> </td><td style="width: 9%; text-align: right;">3.92</td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Int Rate - D5">%</td></tr><tr><td>Current discount rate</td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Int Rate - B6"> </td><td style="width: 9%; text-align: right;">5.00</td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Int Rate - B6">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Int Rate - D6"> </td><td style="width: 9%; text-align: right;">5.01</td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Int Rate - D6">%</td></tr></table><div> </div><div style="margin: 0in; font-size: 10pt; text-align: justify;">The weighted-average durations of the liability in years as of March 31,
2026, and 2025 are summarized as follows:</div><div> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Weighted Avg Duration - B4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Weighted Avg Duration - B4"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Weighted Avg Duration - D4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2025</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Weighted Avg Duration - D4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Original duration of the liability in years</td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Duration - B5"> </td><td style="width: 9%; text-align: right;">8.82</td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Duration - B5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Duration - D5"> </td><td style="width: 9%; text-align: right;">9.59</td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Duration - D5"> </td></tr><tr><td>Current duration of the liability in years</td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Duration - B6"> </td><td style="width: 9%; text-align: right;">8.28</td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Duration - B6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Duration - D6"> </td><td style="width: 9%; text-align: right;">9.01</td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Duration - D6"> </td></tr></table><div> </div><div style="margin: 0in; font-size: 10pt; text-align: justify;">The actual experience during the years ended March 31, 2026, and 2025
compared to what was expected for the years ended March 31, 2026 and 2025 is
summarized as follows:</div><div> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td style="text-decoration: underline;">March 31, 2026</td><td> </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - C4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Amount Inforce</td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - C4"> </td><td> </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - E4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Mortality</td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - E4"> </td><td> </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - G4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Lapsation</td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - G4"> </td><td> </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - I4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Maturity</td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - I4"> </td><td> </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - K4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Total Benefits</td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - K4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Expected</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - C5">$</td><td style="width: 9%; text-align: right;">156,387,760</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - C5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E5">$</td><td style="width: 9%; text-align: right;">925,776</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G5">$</td><td style="width: 9%; text-align: right;">220,089</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I5">$</td><td style="width: 9%; text-align: right;">49,639</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K5">$</td><td style="width: 9%; text-align: right;">1,195,504</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K5"> </td></tr><tr><td>Expected rate</td><td> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C6"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E6"> </td><td style="width: 9%; text-align: right;">0.59</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E6">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G6"> </td><td style="width: 9%; text-align: right;">0.14</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G6">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I6"> </td><td style="width: 9%; text-align: right;">0.03</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I6">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K6"> </td><td style="width: 9%; text-align: right;">0.76</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K6">%</td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Actual</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - C7">$</td><td style="width: 9%; text-align: right;">156,758,780</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - C7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E7">$</td><td style="width: 9%; text-align: right;">719,052</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G7">$</td><td style="width: 9%; text-align: right;">282,305</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I7">$</td><td style="width: 9%; text-align: right;">74,625</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K7">$</td><td style="width: 9%; text-align: right;">1,075,982</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K7"> </td></tr><tr><td>Actual rate</td><td> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C8"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E8"> </td><td style="width: 9%; text-align: right;">0.46</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E8">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G8"> </td><td style="width: 9%; text-align: right;">0.18</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G8">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I8"> </td><td style="width: 9%; text-align: right;">0.05</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I8">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K8"> </td><td style="width: 9%; text-align: right;">0.69</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K8">%</td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Actual to expected ratio</td><td> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C9"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E9"> </td><td style="width: 9%; text-align: right;">77.67</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E9">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G9"> </td><td style="width: 9%; text-align: right;">128.27</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G9">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I9"> </td><td style="width: 9%; text-align: right;">150.34</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I9">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K9"> </td><td style="width: 9%; text-align: right;">90.00</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K9">%</td></tr><tr><td> </td><td> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C10"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C10"> </td><td> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - E10"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - E10"> </td><td> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - G10"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - G10"> </td><td> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - I10"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - I10"> </td><td> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - K10"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - K10"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="text-decoration: underline;">March 31, 2025</td><td> </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - C11"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Amount Inforce</td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - C11"> </td><td> </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - E11"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Mortality</td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - E11"> </td><td> </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - G11"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Lapsation</td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - G11"> </td><td> </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - I11"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Maturity</td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - I11"> </td><td> </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - K11"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Total Benefits</td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - K11"> </td></tr><tr><td>Expected</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - C12">$</td><td style="width: 9%; text-align: right;">163,647,604</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - C12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E12">$</td><td style="width: 9%; text-align: right;">911,463</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G12">$</td><td style="width: 9%; text-align: right;">228,670</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I12">$</td><td style="width: 9%; text-align: right;">59,704</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K12">$</td><td style="width: 9%; text-align: right;">1,199,837</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K12"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Expected rate</td><td> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C13"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E13"> </td><td style="width: 9%; text-align: right;">0.56</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E13">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G13"> </td><td style="width: 9%; text-align: right;">0.14</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G13">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I13"> </td><td style="width: 9%; text-align: right;">0.04</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I13">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K13"> </td><td style="width: 9%; text-align: right;">0.74</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K13">%</td></tr><tr><td>Actual</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - C14">$</td><td style="width: 9%; text-align: right;">163,667,836</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - C14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E14">$</td><td style="width: 9%; text-align: right;">975,310</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G14">$</td><td style="width: 9%; text-align: right;">277,491</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I14">$</td><td style="width: 9%; text-align: right;">64,437</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K14">$</td><td style="width: 9%; text-align: right;">1,317,238</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K14"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Actual rate</td><td> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C15"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C15"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E15"> </td><td style="width: 9%; text-align: right;">0.60</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E15">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G15"> </td><td style="width: 9%; text-align: right;">0.17</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G15">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I15"> </td><td style="width: 9%; text-align: right;">0.04</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I15">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K15"> </td><td style="width: 9%; text-align: right;">0.81</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K15">%</td></tr><tr><td>Actual to expected ratio</td><td> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C16"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E16"> </td><td style="width: 9%; text-align: right;">107.00</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E16">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G16"> </td><td style="width: 9%; text-align: right;">121.35</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G16">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I16"> </td><td style="width: 9%; text-align: right;">107.93</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I16">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K16"> </td><td style="width: 9%; text-align: right;">109.78</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K16">%</td></tr></table><div> </div><div style="margin: 0in; font-size: 10pt; text-align: justify;">Significant assumption inputs to the calculation of the liability for
future policy benefits for the nonparticipating traditional and limited pay
products include mortality, lapses and discount rates. Given limited
credibility, the Company did not make any assumption changes since transition.</div><div> </div><div style="margin: 0in; font-size: 10pt; text-align: justify;">Policyholders’ Account Balances include universal life and annuity
contracts.</div><div> </div><div style="margin: 0in; font-size: 10pt; text-align: justify;">The composition of universal life and annuities included in
Policyholders’ Account Balances as of March 31, 2026, and December 31, 2025 is summarized as
follows:</div><div> </div><table cellpadding="0" style="font-size: 10pt; border-collapse: collapse; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Universal Life & Annuities - B4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Universal Life & Annuities - B4"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Universal Life & Annuities - D4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">December 31, 2025</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Universal Life & Annuities - D4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Annuity</td><td style="width: 1%; text-align: left;" title="Note 5 - Universal Life & Annuities - B5">$</td><td style="width: 9%; text-align: right;">24,606,957</td><td style="width: 1%; text-align: left;" title="Note 5 - Universal Life & Annuities - B5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Universal Life & Annuities - D5">$</td><td style="width: 9%; text-align: right;">24,769,354</td><td style="width: 1%; text-align: left;" title="Note 5 - Universal Life & Annuities - D5"> </td></tr><tr><td>Universal Life</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Universal Life & Annuities - B6"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">67,113,257</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Universal Life & Annuities - B6"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Universal Life & Annuities - D6"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">68,151,712</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Universal Life & Annuities - D6"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Total policyholder account balances</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Universal Life & Annuities - B7">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">91,720,214</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Universal Life & Annuities - B7"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Universal Life & Annuities - D7">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">92,921,066</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Universal Life & Annuities - D7"> </td></tr></table><div> </div><div style="margin: 0in; font-size: 10pt; text-align: justify;">The range of crediting rates for policyholders’ account balances compared
to the guaranteed minimum crediting rates as of March 31, 2026, and 2025 are
presented as follows:</div><div> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td style="text-decoration: underline; vertical-align: bottom;">March 31, 2026</td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - C4"> </td><td style="width: 9%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; vertical-align: bottom;">At Guaranteed Minimum</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - C4"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - E4"> </td><td style="width: 9%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; vertical-align: bottom;">1 Basis Point to 50
Basis Points Above
Guaranteed
Minimum</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - E4"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - G4"> </td><td style="width: 9%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; vertical-align: bottom;">51 Basis Point to
150 Basis Points
Above Guaranteed
Minimum</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - G4"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - I4"> </td><td style="width: 9%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; vertical-align: bottom;">Greater Than 150
Basis Points Above
Guaranteed
Minimum</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - I4"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - K4"> </td><td style="width: 9%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; vertical-align: bottom;">Total</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - K4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Less than 2.00%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C5">$</td><td style="width: 9%; text-align: right;">749,191</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E5">$</td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G5">$</td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I5">$</td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K5">$</td><td style="width: 9%; text-align: right;">749,191</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K5"> </td></tr><tr><td>2.00% to 2.99%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C6"> </td><td style="width: 9%; text-align: right;">195,584</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E6"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G6"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I6"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K6"> </td><td style="width: 9%; text-align: right;">195,584</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K6"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>3.00% to 3.99%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C7"> </td><td style="width: 9%; text-align: right;">5,328,031</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E7"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G7"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I7"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K7"> </td><td style="width: 9%; text-align: right;">5,328,031</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K7"> </td></tr><tr><td>Greater than 4.00%</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - C8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">67,363,713</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - C8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - E8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">215,159</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - E8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - G8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">17,868,536</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - G8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - I8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">-</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - I8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - K8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">85,447,408</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - K8"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Total</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C9">$</td><td style="width: 9%; text-align: right;">73,636,519</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E9">$</td><td style="width: 9%; text-align: right;">215,159</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G9">$</td><td style="width: 9%; text-align: right;">17,868,536</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I9">$</td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K9">$</td><td style="width: 9%; text-align: right;">91,720,214</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K9"> </td></tr></table><div> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td style="text-decoration: underline; vertical-align: bottom;">March 31, 2025</td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - C11"> </td><td style="width: 9%; text-align: center; vertical-align: bottom; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">At Guaranteed Minimum</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - C11"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - E11"> </td><td style="width: 9%; text-align: center; vertical-align: bottom; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">1 Basis Point to 50
Basis Points Above
Guaranteed
Minimum</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - E11"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - G11"> </td><td style="width: 9%; text-align: center; vertical-align: bottom; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">51 Basis Point to
150 Basis Points
Above Guaranteed
Minimum</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - G11"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - I11"> </td><td style="width: 9%; text-align: center; vertical-align: bottom; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Greater Than 150
Basis Points Above
Guaranteed
Minimum</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - I11"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - K11"> </td><td style="width: 9%; text-align: center; vertical-align: bottom; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Total</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - K11"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Less than 2.00%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C12">$</td><td style="width: 9%; text-align: right;">756,197</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E12">$</td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G12">$</td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I12">$</td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K12">$</td><td style="width: 9%; text-align: right;">756,197</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K12"> </td></tr><tr><td>2.00% to 2.99%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C13"> </td><td style="width: 9%; text-align: right;">223,603</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E13"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G13"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I13"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K13"> </td><td style="width: 9%; text-align: right;">223,603</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K13"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>3.00% to 3.99%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C14"> </td><td style="width: 9%; text-align: right;">5,374,493</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E14"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G14"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I14"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K14"> </td><td style="width: 9%; text-align: right;">5,374,493</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K14"> </td></tr><tr><td>Greater than 4.00%</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - C15"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">70,228,348</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - C15"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - E15"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">210,071</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - E15"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - G15"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">17,789,927</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - G15"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - I15"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">-</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - I15"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - K15"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">88,228,346</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - K15"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Total</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C16">$</td><td style="width: 9%; text-align: right;">76,582,641</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E16">$</td><td style="width: 9%; text-align: right;">210,071</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G16">$</td><td style="width: 9%; text-align: right;">17,789,927</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I16">$</td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K16">$</td><td style="width: 9%; text-align: right;">94,582,639</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K16"> </td></tr></table><div> </div><div style="margin: 0in; font-size: 10pt; text-align: justify;">The change in the policyholders account balances for the years ended March
31, 2026, and 2025 are summarized as follows:</div><div> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2025</td></tr><tr><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - B4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Universal Life</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - B4"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - D4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Annuity</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - D4"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - F4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Universal Life</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - F4"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - H4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Annuity</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - H4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Balance, beginning of year</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B5">$</td><td style="width: 9%; text-align: right;">68,151,712</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D5">$</td><td style="width: 9%; text-align: right;">24,769,354</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F5">$</td><td style="width: 9%; text-align: right;">69,836,708</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H5">$</td><td style="width: 9%; text-align: right;">25,403,323</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H5"> </td></tr><tr><td>Issuances</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B6"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D6"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F6"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H6"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H6"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Premiums received</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B7"> </td><td style="width: 9%; text-align: right;">932,906</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D7"> </td><td style="width: 9%; text-align: right;">38,984</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F7"> </td><td style="width: 9%; text-align: right;">942,635</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H7"> </td><td style="width: 9%; text-align: right;">45,710</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H7"> </td></tr><tr><td>Policy charges</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B8"> </td><td style="width: 9%; text-align: right;">(1,276,125</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B8">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D8"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F8"> </td><td style="width: 9%; text-align: right;">(1,312,558</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F8">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H8"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H8"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Benefit payments</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B9"> </td><td style="width: 9%; text-align: right;">(1,051,559</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B9">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D9"> </td><td style="width: 9%; text-align: right;">(349,404</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D9">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F9"> </td><td style="width: 9%; text-align: right;">(586,098</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F9">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H9"> </td><td style="width: 9%; text-align: right;">(161,205</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H9">) </td></tr><tr><td>Surrenders and withdrawals</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B10"> </td><td style="width: 9%; text-align: right;">(222,741</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B10">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D10"> </td><td style="width: 9%; text-align: right;">(124,796</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D10">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F10"> </td><td style="width: 9%; text-align: right;">(118,885</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F10">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H10"> </td><td style="width: 9%; text-align: right;">(308,991</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H10">) </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Interest Credited</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B11"> </td><td style="width: 9%; text-align: right;">579,064</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D11"> </td><td style="width: 9%; text-align: right;">272,819</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F11"> </td><td style="width: 9%; text-align: right;">556,086</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H11"> </td><td style="width: 9%; text-align: right;">285,914</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H11"> </td></tr><tr><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - B12"> </td><td style="width: 9%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - B12"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - D12"> </td><td style="width: 9%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - D12"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - F12"> </td><td style="width: 9%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - F12"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - H12"> </td><td style="width: 9%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - H12"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Balance, end of year</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - B13">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">67,113,257</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - B13"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - D13">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">24,606,957</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - D13"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - F13">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">69,317,888</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - F13"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - H13">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">25,264,751</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - H13"> </td></tr><tr><td> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - B14"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - B14"> </td><td> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - D14"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - D14"> </td><td> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - F14"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - F14"> </td><td> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - H14"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - H14"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Weighted average crediting rate</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B15"> </td><td style="width: 9%; text-align: right;">4.45</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B15">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D15"> </td><td style="width: 9%; text-align: right;">4.01</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D15">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F15"> </td><td style="width: 9%; text-align: right;">4.42</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F15">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H15"> </td><td style="width: 9%; text-align: right;">4.02</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H15">%</td></tr><tr><td> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - B16"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - B16"> </td><td> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - D16"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - D16"> </td><td> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - F16"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - F16"> </td><td> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - H16"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - H16"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Cash surrender value</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B17">$</td><td style="width: 9%; text-align: right;">52,901,113</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B17"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D17">$</td><td style="width: 9%; text-align: right;">24,592,609</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D17"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F17">$</td><td style="width: 9%; text-align: right;">55,118,128</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F17"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H17">$</td><td style="width: 9%; text-align: right;">25,247,675</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H17"> </td></tr></table>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">The following tables summarize balances and changes in the liability for
future policy benefits for nonparticipating traditional and limited-payment
contracts. </div><div> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 0.5%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Traditional Premium Paying</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Traditional Limited Pay</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Total</td></tr><tr><td> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - C4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Present Value of
Net Premiums</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - C4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - E4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Present Value
of Benefits</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - E4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - G4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Present Value of
Net Premiums</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - G4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - I4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Present Value
of Benefits</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - I4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - K4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Present Value of
Net Premiums</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - K4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - M4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Present Value
of Benefits</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - M4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Balance, beginning of year</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C5">$</td><td style="width: 9%; text-align: right;">3,971,915</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E5">$</td><td style="width: 9%; text-align: right;">21,601,667</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G5">$</td><td style="width: 9%; text-align: right;">(10,695,983</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G5">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I5">$</td><td style="width: 9%; text-align: right;">28,599,439</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K5">$</td><td style="width: 9%; text-align: right;">(6,724,068</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K5">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M5">$</td><td style="width: 9%; text-align: right;">50,201,106</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M5"> </td></tr><tr><td>Beginning balance at original discount rate</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C6"> </td><td style="width: 9%; text-align: right;">4,193,882</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E6"> </td><td style="width: 9%; text-align: right;">22,968,581</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G6"> </td><td style="width: 9%; text-align: right;">(11,298,224</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G6">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I6"> </td><td style="width: 9%; text-align: right;">30,964,035</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K6"> </td><td style="width: 9%; text-align: right;">(7,104,342</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K6">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M6"> </td><td style="width: 9%; text-align: right;">53,932,616</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M6"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Effect of changes in CF considerations</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C7"> </td><td style="width: 9%; text-align: right;">804,625</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E7"> </td><td style="width: 9%; text-align: right;">1,146,539</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G7"> </td><td style="width: 9%; text-align: right;">2,412,098</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I7"> </td><td style="width: 9%; text-align: right;">2,759,828</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K7"> </td><td style="width: 9%; text-align: right;">3,216,723</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M7"> </td><td style="width: 9%; text-align: right;">3,906,367</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M7"> </td></tr><tr><td>Effect of actual variances from expected</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - C8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(123,404</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - C8">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - E8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(182,893</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - E8">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - G8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(163,991</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - G8">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - I8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(201,740</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - I8">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - K8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(287,395</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - K8">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - M8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(384,633</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - M8">) </td></tr><tr style="background-color: rgb(204, 238, 255);"><td> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - C9"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - C9"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - E9"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - E9"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - G9"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - G9"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - I9"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - I9"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - K9"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - K9"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - M9"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - M9"> </td></tr><tr><td>Adjusted beginning of period balance</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C10"> </td><td style="width: 9%; text-align: right;">4,875,103</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E10"> </td><td style="width: 9%; text-align: right;">23,932,227</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G10"> </td><td style="width: 9%; text-align: right;">(9,050,117</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G10">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I10"> </td><td style="width: 9%; text-align: right;">33,522,123</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K10"> </td><td style="width: 9%; text-align: right;">(4,175,014</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K10">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M10"> </td><td style="width: 9%; text-align: right;">57,454,350</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M10"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>New issuances</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C11"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E11"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G11"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I11"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K11"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M11"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M11"> </td></tr><tr><td>Interest accrual</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C12"> </td><td style="width: 9%; text-align: right;">301,005</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E12"> </td><td style="width: 9%; text-align: right;">2,025,061</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G12"> </td><td style="width: 9%; text-align: right;">699,261</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I12"> </td><td style="width: 9%; text-align: right;">1,536,997</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K12"> </td><td style="width: 9%; text-align: right;">1,000,266</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M12"> </td><td style="width: 9%; text-align: right;">3,562,058</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M12"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Premiums</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C13"> </td><td style="width: 9%; text-align: right;">(244,724</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C13">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E13"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G13"> </td><td style="width: 9%; text-align: right;">(8,309</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G13">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I13"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K13"> </td><td style="width: 9%; text-align: right;">(253,033</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K13">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M13"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M13"> </td></tr><tr><td>Benefit Payments</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - C14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">-</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - C14"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - E14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(1,980,822</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - E14">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - G14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">-</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - G14"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - I14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(1,350,001</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - I14">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - K14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">-</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - K14"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - M14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(3,330,823</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB - M14">) </td></tr><tr style="background-color: rgb(204, 238, 255);"><td> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - C15"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - C15"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - E15"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - E15"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - G15"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - G15"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - I15"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - I15"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - K15"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - K15"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - M15"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - M15"> </td></tr><tr><td>Ending balance at original discount rate</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C16"> </td><td style="width: 9%; text-align: right;">4,931,384</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E16"> </td><td style="width: 9%; text-align: right;">23,976,466</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G16"> </td><td style="width: 9%; text-align: right;">(8,359,165</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G16">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I16"> </td><td style="width: 9%; text-align: right;">33,709,119</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K16"> </td><td style="width: 9%; text-align: right;">(3,427,781</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K16">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M16"> </td><td style="width: 9%; text-align: right;">57,685,585</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M16"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Effect of changes in discount rate</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C17"> </td><td style="width: 9%; text-align: right;">(314,063</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - C17">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E17"> </td><td style="width: 9%; text-align: right;">(1,702,940</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - E17">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G17"> </td><td style="width: 9%; text-align: right;">529,586</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - G17"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I17"> </td><td style="width: 9%; text-align: right;">(3,157,162</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - I17">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K17"> </td><td style="width: 9%; text-align: right;">215,523</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - K17"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M17"> </td><td style="width: 9%; text-align: right;">(4,860,102</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB - M17">) </td></tr><tr><td> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - C18"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - C18"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - E18"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - E18"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - G18"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - G18"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - I18"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - I18"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - K18"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - K18"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - M18"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - M18"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Balance, end of year</td><td> </td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 5 - Changes in Liab for FPB - C19">$</td><td style="width: 9%; text-align: right; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;">4,617,321</td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 5 - Changes in Liab for FPB - C19"> </td><td> </td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 5 - Changes in Liab for FPB - E19">$</td><td style="width: 9%; text-align: right; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;">22,273,526</td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 5 - Changes in Liab for FPB - E19"> </td><td> </td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 5 - Changes in Liab for FPB - G19">$</td><td style="width: 9%; text-align: right; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;">(7,829,579</td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 5 - Changes in Liab for FPB - G19">) </td><td> </td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 5 - Changes in Liab for FPB - I19">$</td><td style="width: 9%; text-align: right; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;">30,551,957</td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 5 - Changes in Liab for FPB - I19"> </td><td> </td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 5 - Changes in Liab for FPB - K19">$</td><td style="width: 9%; text-align: right; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;">(3,212,258</td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 5 - Changes in Liab for FPB - K19">) </td><td> </td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 5 - Changes in Liab for FPB - M19">$</td><td style="width: 9%; text-align: right; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;">52,825,483</td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 5 - Changes in Liab for FPB - M19"> </td></tr><tr><td> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - C20"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - C20"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - E20"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - E20"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - G20"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - G20"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - I20"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - I20"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - K20"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - K20"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - M20"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - M20"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Net liability for future policy benefits</td><td> </td><td colspan="7" style="text-align: center;">$17,656,205</td><td> </td><td colspan="7" style="text-align: center;">$38,381,536</td><td> </td><td colspan="7" style="text-align: center;">$56,037,741</td></tr><tr><td> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - C22"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - C22"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - E22"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - E22"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - G22"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - G22"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - I22"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - I22"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - K22"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - K22"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - M22"> </td><td> </td><td title="Note 5 - Changes in Liab for FPB - M22"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Deferred profit liability</td><td> </td><td colspan="7" style="text-align: center;">$0</td><td> </td><td colspan="7" style="text-align: center;">$1,169,982</td><td> </td><td colspan="7" style="text-align: center;">$1,169,982</td></tr></table><div> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 0.5%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2025</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Traditional Premium Paying</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Traditional Limited Pay</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Total</td></tr><tr><td> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - C4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Present Value of
Net Premiums</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - C4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - E4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Present Value
of Benefits</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - E4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - G4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Present Value of
Net Premiums</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - G4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - I4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Present Value
of Benefits</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - I4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - K4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Present Value of
Net Premiums</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - K4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - M4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Present Value
of Benefits</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - M4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Balance, beginning of year</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C5"> </td><td style="width: 9%; text-align: right;">4,293,082</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E5"> </td><td style="width: 9%; text-align: right;">22,118,278</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G5"> </td><td style="width: 9%; text-align: right;">(12,243,574</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G5">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I5"> </td><td style="width: 9%; text-align: right;">26,826,750</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K5"> </td><td style="width: 9%; text-align: right;">(7,950,492</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K5">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M5"> </td><td style="width: 9%; text-align: right;">48,945,028</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M5"> </td></tr><tr><td>Beginning balance at original discount rate</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C6"> </td><td style="width: 9%; text-align: right;">4,711,513</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E6"> </td><td style="width: 9%; text-align: right;">24,563,973</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G6"> </td><td style="width: 9%; text-align: right;">(13,416,148</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G6">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I6"> </td><td style="width: 9%; text-align: right;">30,636,495</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K6"> </td><td style="width: 9%; text-align: right;">(8,704,635</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K6">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M6"> </td><td style="width: 9%; text-align: right;">55,200,468</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M6"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Effect of changes in CF considerations</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C7"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E7"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G7"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I7"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K7"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M7"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M7"> </td></tr><tr><td>Effect of actual variances from expected</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - C8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(262,585</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C8">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - E8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(280,702</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - E8">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - G8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">682,111</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - G8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - I8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">745,613</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - I8"> </td><td style="border-width: medium; border-style: none; border-color: currentcolor;"> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - K8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">419,526</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - M8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">464,911</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M8"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - C9"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - C9"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - E9"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - E9"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - G9"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - G9"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - I9"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - I9"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - K9"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - K9"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - M9"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - M9"> </td></tr><tr><td>Adjusted beginning of period balance</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C10"> </td><td style="width: 9%; text-align: right;">4,448,928</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E10"> </td><td style="width: 9%; text-align: right;">24,283,271</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G10"> </td><td style="width: 9%; text-align: right;">(12,734,037</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G10">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I10"> </td><td style="width: 9%; text-align: right;">31,382,108</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K10"> </td><td style="width: 9%; text-align: right;">(8,285,109</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K10">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M10"> </td><td style="width: 9%; text-align: right;">55,665,379</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M10"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>New issuances</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C11"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E11"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G11"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I11"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K11"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M11"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M11"> </td></tr><tr><td>Interest accrual</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C12"> </td><td style="width: 9%; text-align: right;">958,415</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E12"> </td><td style="width: 9%; text-align: right;">1,062,781</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G12"> </td><td style="width: 9%; text-align: right;">290,511</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I12"> </td><td style="width: 9%; text-align: right;">(70,475</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I12">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K12"> </td><td style="width: 9%; text-align: right;">1,248,926</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M12"> </td><td style="width: 9%; text-align: right;">992,306</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M12"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Premiums</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C13"> </td><td style="width: 9%; text-align: right;">(167,360</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C13">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E13"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G13"> </td><td style="width: 9%; text-align: right;">(8,009</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G13">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I13"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K13"> </td><td style="width: 9%; text-align: right;">(175,369</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K13">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M13"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M13"> </td></tr><tr><td>Benefit Payments</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - C14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">-</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - C14"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - E14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(583,546</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - E14">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - G14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">-</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - G14"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - I14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(391,763</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - I14">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - K14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">-</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - K14"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - M14"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(975,309</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - M14">) </td></tr><tr style="background-color: rgb(204, 238, 255);"><td> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - C15"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - C15"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - E15"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - E15"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - G15"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - G15"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - I15"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - I15"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - K15"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - K15"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - M15"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - M15"> </td></tr><tr><td>Ending balance at original discount rate</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C16"> </td><td style="width: 9%; text-align: right;">5,239,983</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E16"> </td><td style="width: 9%; text-align: right;">24,762,506</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G16"> </td><td style="width: 9%; text-align: right;">(12,451,535</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G16">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I16"> </td><td style="width: 9%; text-align: right;">30,919,870</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K16"> </td><td style="width: 9%; text-align: right;">(7,211,552</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K16">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M16"> </td><td style="width: 9%; text-align: right;">55,682,376</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M16"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Effect of changes in discount rate</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C17"> </td><td style="width: 9%; text-align: right;">(369,914</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - C17">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E17"> </td><td style="width: 9%; text-align: right;">(1,970,584</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - E17">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G17"> </td><td style="width: 9%; text-align: right;">867,412</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - G17"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I17"> </td><td style="width: 9%; text-align: right;">(3,150,783</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - I17">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K17"> </td><td style="width: 9%; text-align: right;">497,498</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - K17"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M17"> </td><td style="width: 9%; text-align: right;">(5,121,367</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M17">) </td></tr><tr><td> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - C18"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - C18"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - E18"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - E18"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - G18"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - G18"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - I18"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - I18"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - K18"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - K18"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - M18"> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - M18"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Balance, end of year</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - C19">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">4,870,069</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - C19"></td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - E19">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">22,791,922</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - E19"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - G19">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(11,584,123</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - G19">)</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - I19">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">27,769,087</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - I19"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - K19">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">(6,714,054</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - K19">) </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Changes in Liab for FPB Prior - M19">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">50,561,009</td><td style="width: 1%; text-align: left;" title="Note 5 - Changes in Liab for FPB Prior - M19"> </td></tr><tr><td> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - C20"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - C20"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - E20"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - E20"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - G20"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - G20"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - I20"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - I20"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - K20"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - K20"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - M20"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - M20"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Net liability for future policy benefits</td><td> </td><td colspan="7" style="text-align: center;">$17,921,853</td><td> </td><td colspan="7" style="text-align: center;">$39,353,210</td><td> </td><td colspan="7" style="text-align: center;">$57,275,063</td></tr><tr><td> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - C22"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - C22"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - E22"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - E22"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - G22"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - G22"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - I22"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - I22"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - K22"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - K22"> </td><td> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - M22"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Changes in Liab for FPB Prior - M22"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Deferred profit liability</td><td> </td><td colspan="7" style="text-align: center;">$0</td><td> </td><td colspan="7" style="text-align: center;">$749,626</td><td> </td><td colspan="7" style="text-align: center;">$749,626</td></tr></table>
3971915
21601667
-10695983
28599439
-6724068
50201106
4193882
22968581
-11298224
30964035
-7104342
53932616
804625
1146539
2412098
2759828
3216723
3906367
-123404
-182893
-163991
-201740
-287395
-384633
4875103
23932227
-9050117
33522123
-4175014
57454350
0
0
0
0
0
0
301005
2025061
699261
1536997
1000266
3562058
244724
8309
253033
1980822
1350001
3330823
4931384
23976466
-8359165
33709119
-3427781
57685585
-314063
1702940
529586
3157162
215523
4860102
4617321
22273526
-7829579
30551957
-3212258
52825483
17656205
38381536
56037741
0
1169982
1169982
4293082
22118278
-12243574
26826750
-7950492
48945028
4711513
24563973
-13416148
30636495
-8704635
55200468
0
0
0
0
0
0
-262585
-280702
682111
745613
419526
464911
4448928
24283271
-12734037
31382108
-8285109
55665379
0
0
0
0
0
0
958415
1062781
290511
-70475
1248926
992306
167360
8009
175369
583546
391763
975309
5239983
24762506
-12451535
30919870
-7211552
55682376
-369914
1970584
867412
3150783
497498
5121367
4870069
22791922
-11584123
27769087
-6714054
50561009
17921853
39353210
57275063
0
749626
749626
<div style="margin: 0in; font-size: 10pt; text-align: justify;">The following table reconciles the net liability for future policy
benefits to the liability for future policy benefits in the consolidated
balance sheet. The DPL for the limited pay products is presented together with
the liability for future policy benefits in the consolidated balance sheet.
Furthermore, there is a block of participating policies that was deemed outside
the scope of the changes related to the LFPB as a result of ASU 2018-12. Thus
this block continues to hold reserves consistent with historical. Lastly, a block
that is 100% coinsured to Park Avenue Life Insurance Company (PALIC) was not
considered in the roll forwards. The Company continues to hold a gross reserve
utilizing an approach consistent with the pre-ASU-2018-12 reserves, with a net
liability of zero.</div><div> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Reconcile Net Liability - B3"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Reconcile Net Liability - B3"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Reconcile Net Liability - D3"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">December 31, 2025</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Reconcile Net Liability - D3"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Traditional Premium Paying</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - B4">$</td><td style="width: 9%; text-align: right;">17,656,205</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - B4"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - D4">$</td><td style="width: 9%; text-align: right;">17,629,752</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - D4"> </td></tr><tr><td>Traditional Limited Pay</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - B5"> </td><td style="width: 9%; text-align: right;">39,551,518</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - B5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - D5"> </td><td style="width: 9%; text-align: right;">40,196,147</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - D5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Participating Policies</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - B6"> </td><td style="width: 9%; text-align: right;">40,664,988</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - B6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - D6"> </td><td style="width: 9%; text-align: right;">40,810,267</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - D6"> </td></tr><tr><td>Miscellaneous Reserves</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - B7"> </td><td style="width: 9%; text-align: right;">2,088,813</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - B7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - D7"> </td><td style="width: 9%; text-align: right;">2,108,019</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - D7"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>PALIC</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - B8"> </td><td style="width: 9%; text-align: right;">13,533,857</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - B8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - D8"> </td><td style="width: 9%; text-align: right;">13,559,661</td><td style="width: 1%; text-align: left;" title="Note 5 - Reconcile Net Liability - D8"> </td></tr><tr><td>A&H</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Reconcile Net Liability - B9"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">67,354</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Reconcile Net Liability - B9"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Reconcile Net Liability - D9"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">67,452</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Reconcile Net Liability - D9"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Total</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Reconcile Net Liability - B10">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">113,562,735</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Reconcile Net Liability - B10"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Reconcile Net Liability - D10">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">114,371,298</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Reconcile Net Liability - D10"> </td></tr></table>
1
0
17656205
17629752
39551518
40196147
40664988
40810267
2088813
2108019
13533857
13559661
67354
67452
113562735
114371298
<div style="margin: 0in; font-size: 10pt; text-align: justify;">The undiscounted expected future benefit payments and gross premiums as
of March 31, 2026, and 2025 are summarized as follows:</div><div> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Undiscounted Expected FPB - B4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Undiscounted</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Undiscounted Expected FPB - B4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Undiscounted Expected FPB - D4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Original
Present Value</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Undiscounted Expected FPB - D4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Undiscounted Expected FPB - F4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Current
Present Value</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Undiscounted Expected FPB - F4"> </td></tr><tr><td style="text-decoration: underline;">March 31, 2026</td><td title="Note 5 - Undiscounted Expected FPB - B5"> </td><td> </td><td title="Note 5 - Undiscounted Expected FPB - B5"> </td><td> </td><td title="Note 5 - Undiscounted Expected FPB - D5"> </td><td> </td><td title="Note 5 - Undiscounted Expected FPB - D5"> </td><td> </td><td title="Note 5 - Undiscounted Expected FPB - F5"> </td><td> </td><td title="Note 5 - Undiscounted Expected FPB - F5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Gross premiums</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - B6">$</td><td style="width: 9%; text-align: right;">11,632,160</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - B6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - D6">$</td><td style="width: 9%; text-align: right;">8,697,920</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - D6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - F6">$</td><td style="width: 9%; text-align: right;">8,144,074</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - F6"> </td></tr><tr><td>Benefits</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - B7"> </td><td style="width: 9%; text-align: right;">84,540,332</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - B7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - D7"> </td><td style="width: 9%; text-align: right;">57,685,586</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - D7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - F7"> </td><td style="width: 9%; text-align: right;">52,825,483</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - F7"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="text-decoration: underline;">March 31, 2025</td><td title="Note 5 - Undiscounted Expected FPB - B8"> </td><td> </td><td title="Note 5 - Undiscounted Expected FPB - B8"> </td><td> </td><td title="Note 5 - Undiscounted Expected FPB - D8"> </td><td> </td><td title="Note 5 - Undiscounted Expected FPB - D8"> </td><td> </td><td title="Note 5 - Undiscounted Expected FPB - F8"> </td><td> </td><td title="Note 5 - Undiscounted Expected FPB - F8"> </td></tr><tr><td>Gross premiums</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - B9">$</td><td style="width: 9%; text-align: right;">15,211,817</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - B9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - D9">$</td><td style="width: 9%; text-align: right;">11,037,712</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - D9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - F9">$</td><td style="width: 9%; text-align: right;">10,258,479</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - F9"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Benefits</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - B10"> </td><td style="width: 9%; text-align: right;">84,280,896</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - B10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - D10"> </td><td style="width: 9%; text-align: right;">55,682,375</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - D10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - F10"> </td><td style="width: 9%; text-align: right;">50,561,008</td><td style="width: 1%; text-align: left;" title="Note 5 - Undiscounted Expected FPB - F10"> </td></tr></table>
11632160
8697920
8144074
84540332
57685586
52825483
15211817
11037712
10258479
84280896
55682375
50561008
<div style="margin: 0in; font-size: 10pt; text-align: justify;">The weighted-average interest rates as of March 31, 2026, and 2025 are
summarized as follows:</div><div> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Weighted Avg Int Rate - B4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Weighted Avg Int Rate - B4"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Weighted Avg Int Rate - D4"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2025</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Weighted Avg Int Rate - D4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Original discount rate</td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Int Rate - B5"> </td><td style="width: 9%; text-align: right;">3.92</td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Int Rate - B5">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Int Rate - D5"> </td><td style="width: 9%; text-align: right;">3.92</td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Int Rate - D5">%</td></tr><tr><td>Current discount rate</td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Int Rate - B6"> </td><td style="width: 9%; text-align: right;">5.00</td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Int Rate - B6">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Int Rate - D6"> </td><td style="width: 9%; text-align: right;">5.01</td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Int Rate - D6">%</td></tr></table>
0.0392
0.0392
0.05
0.0501
<div style="margin: 0in; font-size: 10pt; text-align: justify;">The weighted-average durations of the liability in years as of March 31,
2026, and 2025 are summarized as follows:</div><div> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Weighted Avg Duration - B4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Weighted Avg Duration - B4"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Weighted Avg Duration - D4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2025</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Weighted Avg Duration - D4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Original duration of the liability in years</td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Duration - B5"> </td><td style="width: 9%; text-align: right;">8.82</td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Duration - B5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Duration - D5"> </td><td style="width: 9%; text-align: right;">9.59</td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Duration - D5"> </td></tr><tr><td>Current duration of the liability in years</td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Duration - B6"> </td><td style="width: 9%; text-align: right;">8.28</td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Duration - B6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Duration - D6"> </td><td style="width: 9%; text-align: right;">9.01</td><td style="width: 1%; text-align: left;" title="Note 5 - Weighted Avg Duration - D6"> </td></tr></table>
P8Y9M25D
P9Y7M2D
P8Y3M10D
P9Y3D
<div style="margin: 0in; font-size: 10pt; text-align: justify;">The actual experience during the years ended March 31, 2026, and 2025
compared to what was expected for the years ended March 31, 2026 and 2025 is
summarized as follows:</div><div> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td style="text-decoration: underline;">March 31, 2026</td><td> </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - C4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Amount Inforce</td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - C4"> </td><td> </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - E4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Mortality</td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - E4"> </td><td> </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - G4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Lapsation</td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - G4"> </td><td> </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - I4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Maturity</td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - I4"> </td><td> </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - K4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Total Benefits</td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - K4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Expected</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - C5">$</td><td style="width: 9%; text-align: right;">156,387,760</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - C5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E5">$</td><td style="width: 9%; text-align: right;">925,776</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G5">$</td><td style="width: 9%; text-align: right;">220,089</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I5">$</td><td style="width: 9%; text-align: right;">49,639</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K5">$</td><td style="width: 9%; text-align: right;">1,195,504</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K5"> </td></tr><tr><td>Expected rate</td><td> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C6"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E6"> </td><td style="width: 9%; text-align: right;">0.59</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E6">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G6"> </td><td style="width: 9%; text-align: right;">0.14</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G6">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I6"> </td><td style="width: 9%; text-align: right;">0.03</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I6">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K6"> </td><td style="width: 9%; text-align: right;">0.76</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K6">%</td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Actual</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - C7">$</td><td style="width: 9%; text-align: right;">156,758,780</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - C7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E7">$</td><td style="width: 9%; text-align: right;">719,052</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G7">$</td><td style="width: 9%; text-align: right;">282,305</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I7">$</td><td style="width: 9%; text-align: right;">74,625</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K7">$</td><td style="width: 9%; text-align: right;">1,075,982</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K7"> </td></tr><tr><td>Actual rate</td><td> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C8"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E8"> </td><td style="width: 9%; text-align: right;">0.46</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E8">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G8"> </td><td style="width: 9%; text-align: right;">0.18</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G8">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I8"> </td><td style="width: 9%; text-align: right;">0.05</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I8">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K8"> </td><td style="width: 9%; text-align: right;">0.69</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K8">%</td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Actual to expected ratio</td><td> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C9"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E9"> </td><td style="width: 9%; text-align: right;">77.67</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E9">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G9"> </td><td style="width: 9%; text-align: right;">128.27</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G9">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I9"> </td><td style="width: 9%; text-align: right;">150.34</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I9">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K9"> </td><td style="width: 9%; text-align: right;">90.00</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K9">%</td></tr><tr><td> </td><td> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C10"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C10"> </td><td> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - E10"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - E10"> </td><td> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - G10"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - G10"> </td><td> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - I10"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - I10"> </td><td> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - K10"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - K10"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td style="text-decoration: underline;">March 31, 2025</td><td> </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - C11"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Amount Inforce</td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - C11"> </td><td> </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - E11"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Mortality</td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - E11"> </td><td> </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - G11"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Lapsation</td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - G11"> </td><td> </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - I11"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Maturity</td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - I11"> </td><td> </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - K11"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Total Benefits</td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Experience vs Expected - K11"> </td></tr><tr><td>Expected</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - C12">$</td><td style="width: 9%; text-align: right;">163,647,604</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - C12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E12">$</td><td style="width: 9%; text-align: right;">911,463</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G12">$</td><td style="width: 9%; text-align: right;">228,670</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I12">$</td><td style="width: 9%; text-align: right;">59,704</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K12">$</td><td style="width: 9%; text-align: right;">1,199,837</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K12"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Expected rate</td><td> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C13"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E13"> </td><td style="width: 9%; text-align: right;">0.56</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E13">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G13"> </td><td style="width: 9%; text-align: right;">0.14</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G13">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I13"> </td><td style="width: 9%; text-align: right;">0.04</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I13">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K13"> </td><td style="width: 9%; text-align: right;">0.74</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K13">%</td></tr><tr><td>Actual</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - C14">$</td><td style="width: 9%; text-align: right;">163,667,836</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - C14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E14">$</td><td style="width: 9%; text-align: right;">975,310</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G14">$</td><td style="width: 9%; text-align: right;">277,491</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I14">$</td><td style="width: 9%; text-align: right;">64,437</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K14">$</td><td style="width: 9%; text-align: right;">1,317,238</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K14"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Actual rate</td><td> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C15"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C15"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E15"> </td><td style="width: 9%; text-align: right;">0.60</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E15">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G15"> </td><td style="width: 9%; text-align: right;">0.17</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G15">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I15"> </td><td style="width: 9%; text-align: right;">0.04</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I15">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K15"> </td><td style="width: 9%; text-align: right;">0.81</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K15">%</td></tr><tr><td>Actual to expected ratio</td><td> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C16"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Experience vs Expected - C16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E16"> </td><td style="width: 9%; text-align: right;">107.00</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - E16">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G16"> </td><td style="width: 9%; text-align: right;">121.35</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - G16">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I16"> </td><td style="width: 9%; text-align: right;">107.93</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - I16">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K16"> </td><td style="width: 9%; text-align: right;">109.78</td><td style="width: 1%; text-align: left;" title="Note 5 - Experience vs Expected - K16">%</td></tr></table>
156387760
925776
220089
49639
1195504
0.0059
0.0014
0.0003
0.0076
156758780
719052
282305
74625
1075982
0.0046
0.0018
0.0005
0.0069
0.7767
1.2827
1.5034
0.90
163647604
911463
228670
59704
1199837
0.0056
0.0014
0.0004
0.0074
163667836
975310
277491
64437
1317238
0.006
0.0017
0.0004
0.0081
1.07
1.2135
1.0793
1.0978
<div style="margin: 0in; font-size: 10pt; text-align: justify;">The composition of universal life and annuities included in
Policyholders’ Account Balances as of March 31, 2026, and December 31, 2025 is summarized as
follows:</div><div> </div><table cellpadding="0" style="font-size: 10pt; border-collapse: collapse; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Universal Life & Annuities - B4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Universal Life & Annuities - B4"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Universal Life & Annuities - D4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">December 31, 2025</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Universal Life & Annuities - D4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Annuity</td><td style="width: 1%; text-align: left;" title="Note 5 - Universal Life & Annuities - B5">$</td><td style="width: 9%; text-align: right;">24,606,957</td><td style="width: 1%; text-align: left;" title="Note 5 - Universal Life & Annuities - B5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Universal Life & Annuities - D5">$</td><td style="width: 9%; text-align: right;">24,769,354</td><td style="width: 1%; text-align: left;" title="Note 5 - Universal Life & Annuities - D5"> </td></tr><tr><td>Universal Life</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Universal Life & Annuities - B6"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">67,113,257</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Universal Life & Annuities - B6"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Universal Life & Annuities - D6"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">68,151,712</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Universal Life & Annuities - D6"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Total policyholder account balances</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Universal Life & Annuities - B7">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">91,720,214</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Universal Life & Annuities - B7"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Universal Life & Annuities - D7">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">92,921,066</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Universal Life & Annuities - D7"> </td></tr></table>
24606957
24769354
67113257
68151712
91720214
92921066
<div style="margin: 0in; font-size: 10pt; text-align: justify;">The range of crediting rates for policyholders’ account balances compared
to the guaranteed minimum crediting rates as of March 31, 2026, and 2025 are
presented as follows:</div><div> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td style="text-decoration: underline; vertical-align: bottom;">March 31, 2026</td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - C4"> </td><td style="width: 9%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; vertical-align: bottom;">At Guaranteed Minimum</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - C4"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - E4"> </td><td style="width: 9%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; vertical-align: bottom;">1 Basis Point to 50
Basis Points Above
Guaranteed
Minimum</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - E4"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - G4"> </td><td style="width: 9%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; vertical-align: bottom;">51 Basis Point to
150 Basis Points
Above Guaranteed
Minimum</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - G4"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - I4"> </td><td style="width: 9%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; vertical-align: bottom;">Greater Than 150
Basis Points Above
Guaranteed
Minimum</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - I4"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - K4"> </td><td style="width: 9%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); text-align: center; vertical-align: bottom;">Total</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - K4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Less than 2.00%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C5">$</td><td style="width: 9%; text-align: right;">749,191</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E5">$</td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G5">$</td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I5">$</td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K5">$</td><td style="width: 9%; text-align: right;">749,191</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K5"> </td></tr><tr><td>2.00% to 2.99%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C6"> </td><td style="width: 9%; text-align: right;">195,584</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E6"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G6"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I6"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K6"> </td><td style="width: 9%; text-align: right;">195,584</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K6"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>3.00% to 3.99%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C7"> </td><td style="width: 9%; text-align: right;">5,328,031</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E7"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G7"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I7"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K7"> </td><td style="width: 9%; text-align: right;">5,328,031</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K7"> </td></tr><tr><td>Greater than 4.00%</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - C8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">67,363,713</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - C8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - E8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">215,159</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - E8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - G8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">17,868,536</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - G8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - I8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">-</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - I8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - K8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">85,447,408</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - K8"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Total</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C9">$</td><td style="width: 9%; text-align: right;">73,636,519</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E9">$</td><td style="width: 9%; text-align: right;">215,159</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G9">$</td><td style="width: 9%; text-align: right;">17,868,536</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I9">$</td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K9">$</td><td style="width: 9%; text-align: right;">91,720,214</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K9"> </td></tr></table><div> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td style="text-decoration: underline; vertical-align: bottom;">March 31, 2025</td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - C11"> </td><td style="width: 9%; text-align: center; vertical-align: bottom; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">At Guaranteed Minimum</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - C11"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - E11"> </td><td style="width: 9%; text-align: center; vertical-align: bottom; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">1 Basis Point to 50
Basis Points Above
Guaranteed
Minimum</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - E11"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - G11"> </td><td style="width: 9%; text-align: center; vertical-align: bottom; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">51 Basis Point to
150 Basis Points
Above Guaranteed
Minimum</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - G11"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - I11"> </td><td style="width: 9%; text-align: center; vertical-align: bottom; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Greater Than 150
Basis Points Above
Guaranteed
Minimum</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - I11"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - K11"> </td><td style="width: 9%; text-align: center; vertical-align: bottom; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Total</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - K11"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Less than 2.00%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C12">$</td><td style="width: 9%; text-align: right;">756,197</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E12">$</td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G12">$</td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I12">$</td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K12">$</td><td style="width: 9%; text-align: right;">756,197</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K12"> </td></tr><tr><td>2.00% to 2.99%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C13"> </td><td style="width: 9%; text-align: right;">223,603</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E13"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G13"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I13"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I13"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K13"> </td><td style="width: 9%; text-align: right;">223,603</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K13"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>3.00% to 3.99%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C14"> </td><td style="width: 9%; text-align: right;">5,374,493</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E14"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G14"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I14"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I14"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K14"> </td><td style="width: 9%; text-align: right;">5,374,493</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K14"> </td></tr><tr><td>Greater than 4.00%</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - C15"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">70,228,348</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - C15"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - E15"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">210,071</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - E15"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - G15"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">17,789,927</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - G15"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - I15"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">-</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - I15"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - K15"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">88,228,346</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Range of Crediting Rates - K15"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Total</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C16">$</td><td style="width: 9%; text-align: right;">76,582,641</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - C16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E16">$</td><td style="width: 9%; text-align: right;">210,071</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - E16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G16">$</td><td style="width: 9%; text-align: right;">17,789,927</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - G16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I16">$</td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - I16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K16">$</td><td style="width: 9%; text-align: right;">94,582,639</td><td style="width: 1%; text-align: left;" title="Note 5 - Range of Crediting Rates - K16"> </td></tr></table>
749191
0
0
0
749191
195584
0
0
0
195584
5328031
0
0
0
5328031
67363713
215159
17868536
0
85447408
73636519
215159
17868536
0
91720214
756197
0
0
0
756197
223603
0
0
0
223603
5374493
0
0
0
5374493
70228348
210071
17789927
0
88228346
76582641
210071
17789927
0
94582639
<div style="margin: 0in; font-size: 10pt; text-align: justify;">The change in the policyholders account balances for the years ended March
31, 2026, and 2025 are summarized as follows:</div><div> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2025</td></tr><tr><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - B4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Universal Life</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - B4"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - D4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Annuity</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - D4"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - F4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Universal Life</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - F4"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - H4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Annuity</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - H4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Balance, beginning of year</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B5">$</td><td style="width: 9%; text-align: right;">68,151,712</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D5">$</td><td style="width: 9%; text-align: right;">24,769,354</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F5">$</td><td style="width: 9%; text-align: right;">69,836,708</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H5">$</td><td style="width: 9%; text-align: right;">25,403,323</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H5"> </td></tr><tr><td>Issuances</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B6"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D6"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F6"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H6"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H6"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Premiums received</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B7"> </td><td style="width: 9%; text-align: right;">932,906</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D7"> </td><td style="width: 9%; text-align: right;">38,984</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F7"> </td><td style="width: 9%; text-align: right;">942,635</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H7"> </td><td style="width: 9%; text-align: right;">45,710</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H7"> </td></tr><tr><td>Policy charges</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B8"> </td><td style="width: 9%; text-align: right;">(1,276,125</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B8">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D8"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F8"> </td><td style="width: 9%; text-align: right;">(1,312,558</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F8">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H8"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H8"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Benefit payments</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B9"> </td><td style="width: 9%; text-align: right;">(1,051,559</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B9">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D9"> </td><td style="width: 9%; text-align: right;">(349,404</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D9">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F9"> </td><td style="width: 9%; text-align: right;">(586,098</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F9">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H9"> </td><td style="width: 9%; text-align: right;">(161,205</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H9">) </td></tr><tr><td>Surrenders and withdrawals</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B10"> </td><td style="width: 9%; text-align: right;">(222,741</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B10">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D10"> </td><td style="width: 9%; text-align: right;">(124,796</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D10">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F10"> </td><td style="width: 9%; text-align: right;">(118,885</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F10">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H10"> </td><td style="width: 9%; text-align: right;">(308,991</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H10">) </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Interest Credited</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B11"> </td><td style="width: 9%; text-align: right;">579,064</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D11"> </td><td style="width: 9%; text-align: right;">272,819</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F11"> </td><td style="width: 9%; text-align: right;">556,086</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H11"> </td><td style="width: 9%; text-align: right;">285,914</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H11"> </td></tr><tr><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - B12"> </td><td style="width: 9%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - B12"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - D12"> </td><td style="width: 9%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - D12"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - F12"> </td><td style="width: 9%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - F12"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - H12"> </td><td style="width: 9%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);"> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - H12"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Balance, end of year</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - B13">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">67,113,257</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - B13"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - D13">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">24,606,957</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - D13"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - F13">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">69,317,888</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - F13"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - H13">$</td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">25,264,751</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Change in Account Balances - H13"> </td></tr><tr><td> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - B14"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - B14"> </td><td> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - D14"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - D14"> </td><td> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - F14"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - F14"> </td><td> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - H14"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - H14"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Weighted average crediting rate</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B15"> </td><td style="width: 9%; text-align: right;">4.45</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B15">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D15"> </td><td style="width: 9%; text-align: right;">4.01</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D15">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F15"> </td><td style="width: 9%; text-align: right;">4.42</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F15">%</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H15"> </td><td style="width: 9%; text-align: right;">4.02</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H15">%</td></tr><tr><td> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - B16"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - B16"> </td><td> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - D16"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - D16"> </td><td> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - F16"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - F16"> </td><td> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - H16"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Change in Account Balances - H16"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Cash surrender value</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B17">$</td><td style="width: 9%; text-align: right;">52,901,113</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - B17"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D17">$</td><td style="width: 9%; text-align: right;">24,592,609</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - D17"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F17">$</td><td style="width: 9%; text-align: right;">55,118,128</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - F17"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H17">$</td><td style="width: 9%; text-align: right;">25,247,675</td><td style="width: 1%; text-align: left;" title="Note 5 - Change in Account Balances - H17"> </td></tr></table>
68151712
24769354
69836708
25403323
0
0
0
0
932906
38984
942635
45710
1276125
0
1312558
0
1051559
349404
586098
161205
222741
124796
118885
308991
579064
272819
556086
285914
67113257
24606957
69317888
25264751
0.0445
0.0401
0.0442
0.0402
52901113
24592609
55118128
25247675
<div style="color: #000000;"> <span style="font-size: 10.0pt; font-weight: bold;">Note 6 – Credit Arrangements</span> </div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="margin: 0in; font-size: 10pt;">During March 31, 2026 and December 31, 2025, the Company had
the following line of credit available:</div><div> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Instrument</td><td> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Issue Date</td><td style="text-align: center; border-width: medium; border-style: none; border-color: currentcolor;"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Maturity Date</td><td style="text-align: center; border-width: medium; border-style: none; border-color: currentcolor;"> </td><td style="text-align: center; width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Credit Arrangements - G3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Revolving Credit Limit</td><td style="text-align: center; width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Credit Arrangements - G3"> </td><td style="text-align: center; border-width: medium; border-style: none; border-color: currentcolor;"> </td><td style="text-align: center; width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Credit Arrangements - I3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">December 31, 2025</td><td style="text-align: center; width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Credit Arrangements - I3"> </td><td style="text-align: center; border-width: medium; border-style: none; border-color: currentcolor;"> </td><td style="text-align: center; width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Credit Arrangements - K3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Borrowings</td><td style="text-align: center; width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Credit Arrangements - K3"> </td><td style="text-align: center; border-width: medium; border-style: none; border-color: currentcolor;"> </td><td style="text-align: center; width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Credit Arrangements - M3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Repayments</td><td style="text-align: center; width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Credit Arrangements - M3"> </td><td style="text-align: center; border-width: medium; border-style: none; border-color: currentcolor;"> </td><td style="text-align: center; width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Credit Arrangements - O3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">March 31, 2026</td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Credit Arrangements - O3"> </td></tr><tr><td>Line of Credit:</td><td> </td><td> </td><td> </td><td> </td><td> </td><td style="width: 1%;" title="Note 5 - Credit Arrangements - G4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Credit Arrangements - G4"> </td><td> </td><td style="width: 1%;" title="Note 5 - Credit Arrangements - I4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Credit Arrangements - I4"> </td><td> </td><td style="width: 1%;" title="Note 5 - Credit Arrangements - K4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Credit Arrangements - K4"> </td><td> </td><td style="width: 1%;" title="Note 5 - Credit Arrangements - M4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Credit Arrangements - M4"> </td><td> </td><td style="width: 1%;" title="Note 5 - Credit Arrangements - O4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Credit Arrangements - O4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>UG - CMA</td><td> </td><td style="text-align: right;">10/21/21</td><td> </td><td style="text-align: right;">10/2/26</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Credit Arrangements - G5"> </td><td style="width: 9%; text-align: right;">25,000,000</td><td style="width: 1%; text-align: left;" title="Note 5 - Credit Arrangements - G5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Credit Arrangements - I5"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 5 - Credit Arrangements - I5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Credit Arrangements - K5"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 5 - Credit Arrangements - K5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Credit Arrangements - M5"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 5 - Credit Arrangements - M5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Credit Arrangements - O5"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 5 - Credit Arrangements - O5"> </td></tr></table><div style="color: #000000;"> </div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">During October of 2025, the Federal Home
Loan Bank approved UG’s Cash Management Advance Application (“CMA”). The CMA
gives the Company the option of selecting a variable rate of interest for up to
90 days or a fixed rate for a maximum of 30 days. The variable rate CMA is prepayable at
any time without a fee, while the fixed CMA is not prepayable prior to
maturity. The Company has pledged bonds with a
collateral lendable value of $21,716,686. The Company has no outstanding
borrowings on the CMA at March 31, 2026 nor had any borrowing activity during
2026.</div>
Credit Arrangements<table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Instrument</td><td> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Issue Date</td><td style="text-align: center; border-width: medium; border-style: none; border-color: currentcolor;"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Maturity Date</td><td style="text-align: center; border-width: medium; border-style: none; border-color: currentcolor;"> </td><td style="text-align: center; width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Credit Arrangements - G3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Revolving Credit Limit</td><td style="text-align: center; width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Credit Arrangements - G3"> </td><td style="text-align: center; border-width: medium; border-style: none; border-color: currentcolor;"> </td><td style="text-align: center; width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Credit Arrangements - I3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">December 31, 2025</td><td style="text-align: center; width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Credit Arrangements - I3"> </td><td style="text-align: center; border-width: medium; border-style: none; border-color: currentcolor;"> </td><td style="text-align: center; width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Credit Arrangements - K3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Borrowings</td><td style="text-align: center; width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Credit Arrangements - K3"> </td><td style="text-align: center; border-width: medium; border-style: none; border-color: currentcolor;"> </td><td style="text-align: center; width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Credit Arrangements - M3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Repayments</td><td style="text-align: center; width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Credit Arrangements - M3"> </td><td style="text-align: center; border-width: medium; border-style: none; border-color: currentcolor;"> </td><td style="text-align: center; width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 5 - Credit Arrangements - O3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">March 31, 2026</td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 5 - Credit Arrangements - O3"> </td></tr><tr><td>Line of Credit:</td><td> </td><td> </td><td> </td><td> </td><td> </td><td style="width: 1%;" title="Note 5 - Credit Arrangements - G4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Credit Arrangements - G4"> </td><td> </td><td style="width: 1%;" title="Note 5 - Credit Arrangements - I4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Credit Arrangements - I4"> </td><td> </td><td style="width: 1%;" title="Note 5 - Credit Arrangements - K4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Credit Arrangements - K4"> </td><td> </td><td style="width: 1%;" title="Note 5 - Credit Arrangements - M4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Credit Arrangements - M4"> </td><td> </td><td style="width: 1%;" title="Note 5 - Credit Arrangements - O4"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 5 - Credit Arrangements - O4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>UG - CMA</td><td> </td><td style="text-align: right;">10/21/21</td><td> </td><td style="text-align: right;">10/2/26</td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Credit Arrangements - G5"> </td><td style="width: 9%; text-align: right;">25,000,000</td><td style="width: 1%; text-align: left;" title="Note 5 - Credit Arrangements - G5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Credit Arrangements - I5"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 5 - Credit Arrangements - I5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Credit Arrangements - K5"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 5 - Credit Arrangements - K5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Credit Arrangements - M5"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 5 - Credit Arrangements - M5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 5 - Credit Arrangements - O5"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 5 - Credit Arrangements - O5"> </td></tr></table>
2021-10-21
2026-10-02
25000000
0
0
0
0
P90D
P30D
21716686
0
<div style="color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Note 7 – Shareholders’ Equity</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">During 2026, the Company issued 1,733 shares of stock to management and employees as compensation at a cost of $90,134. These awards are determined at the discretion of the Board of
Directors.</div><div style="font-size: 10pt; color: #000000;">
</div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;"><b style="mso-bidi-font-weight:normal">Stock Repurchase Program</b> – The Board of Directors
of UTG has authorized the repurchase in the open market or in privately
negotiated transactions of UTG’s common stock.<span style="mso-spacerun:yes">
</span>The Board of Directors of UTG authorized the repurchase of up to $26 million of UTG’s common stock in the open
market or in privately negotiated transactions. Company Management has broad
authority to operate the program, including the discretion of whether to
purchase shares and the ability to suspend or terminate the program. Open
market purchases are made based on the last available market price but may be
limited.<span style="mso-spacerun:yes"> </span>During the three months
ended March 31, 2026, the Company repurchased 3,521<span style="mso-fareast-font-family:"Times New Roman";color:blue"> </span>shares through
the stock repurchase program for $195,773. Through March 31, 2026, UTG has spent $21,035,328<span style="mso-fareast-font-family:"Times New Roman";color:blue"> </span>in the
acquisition of 1,402,790<span style="mso-fareast-font-family:"Times New Roman"; color:blue"> </span>shares under this program. </div><div style="font-size: 10pt; color: #000000;">
</div>
<div style="color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Stock Option Plan</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">On March 26, 2025, the Company’s Board of Directors approved the UTG, Inc. 2025 Stock Option Plan (the “Plan”) and agreed to recommend the shareholders vote in favor of the Plan. On June 27, 2025, the Company’s shareholders approved the Stock Option Plan which provides for the grant of qualified incentive stock options and nonqualified stock options to employees, directors, consultants and advisors.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">The Company has reserved for issuance, an aggregate of 300,000 shares of common stock under the Plan. As of March 31, 2026, 96,250 shares have been granted, and 203,750 shares remained under the Plan for future issuance.</span> </div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The purpose of the Plan is to enable UTG to attract and retain the types of employees, officers, directors, consultants, and advisors who will contribute to UTG long-range success and to promote the successes of UTG’s business through the award of options to purchase shares of common stock of UTG.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The Company’s Compensation Committee will administer the Plan with respect to individuals the Board has identified as “Designated Executives” and by the Board with respect to all others eligible to participate in the Plan. The Compensation Committee and the Board are known as the “Governing Committee” of the Plan.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;"> The Company does not currently maintain a formal policy or practice regarding the timing of options in relation to the release of material nonpublic information (“MNPI”), as such, option awards are not part of its executive compensation program. The Company has not timed the disclosure of MNPI for the purpose of affecting the value of executive compensation.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">No option shall be exercised more than 10 years after the date such option is granted. The Plan will terminate 10 years from the date of approval by shareholders, unless previously terminated by the Board. After the Plan is terminated, no awards of stock options may be granted but stock options previously awarded will remain outstanding in accordance with their applicable terms and conditions and the Plan’s terms and conditions.</span> </div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">The exercise price of incentive stock options granted under the Plan must be at least equal to 100% of the fair market value of the Company’s stock at the date of grant. The exercise price must not be less than 110% of the fair market value of the stock at date of grant for incentive stock options granted to an employee that owns greater than 10% of the Company stock.</span> </div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="color: #000000;"> <span style="font-size: 10.0pt;">The following table provides a summary of option activity under the Plan:</span> </div>
<div style="font-size: 10pt; color: #000000;"> </div><table cellpadding="0" style="white-space: nowrap; font-size: 10pt; border-collapse: collapse; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td style="text-align: left;"> </td><td style="width: 1%; text-align: center; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - B3"> </td><td style="width: 9%; text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - B3"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - D3"> </td><td style="width: 9%; text-align: center;"> </td><td style="width: 1%; text-align: center; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - D3"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - F3"> </td><td style="width: 9%; text-align: center; font-weight: bold;">Weighted average</td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - F3"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - H3"> </td><td style="width: 9%; text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - H3"> </td></tr><tr><td style="text-align: center;"> </td><td style="width: 1%; text-align: center; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - B4"> </td><td style="width: 9%; text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - B4"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - D4"> </td><td style="width: 9%; text-align: center; font-weight: bold;">Weighted</td><td style="width: 1%; text-align: center; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - D4"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - F4"> </td><td style="width: 9%; text-align: center; font-weight: bold;">remaining</td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - F4"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - H4"> </td><td style="width: 9%; text-align: center; font-weight: bold;">Aggregate</td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - H4"> </td></tr><tr><td style="text-align: left;"> </td><td style="width: 1%; text-align: center; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - B5"> </td><td style="width: 9%; text-align: center; font-weight: bold;">Number of</td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - B5"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - D5"> </td><td style="width: 9%; text-align: center; font-weight: bold;">average exercise</td><td style="width: 1%; text-align: center; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - D5"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - F5"> </td><td style="width: 9%; text-align: center; font-weight: bold;">contractual</td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - F5"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - H5"> </td><td style="width: 9%; text-align: center; font-weight: bold;">intrinsic value</td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - H5"> </td></tr><tr><td style="text-align: left;"> </td><td style="width: 1%; text-align: center; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - B6"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); font-weight: bold;">options </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Summary of Option Activity - B6"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Summary of Option Activity - D6"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); font-weight: bold;">price </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Summary of Option Activity - D6"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Summary of Option Activity - F6"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); font-weight: bold;">life (years)</td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Summary of Option Activity - F6"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Summary of Option Activity - H6"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); font-weight: bold;">(1)</td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Summary of Option Activity - H6"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Outstanding at December 31, 2025</td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - B7"> </td><td style="width: 9%; text-align: right;">96,250</td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - B7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - D7">$</td><td style="width: 9%; text-align: right;">45</td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - D7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - F7"> </td><td style="width: 9%; text-align: right;">8.89</td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - F7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - H7">$</td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - H7"> </td></tr><tr><td style="padding-left: 10px;"> Granted</td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - B8"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - B8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - D8"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - D8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - F8"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - F8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - H8"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - H8"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Outstanding at March 31, 2026</td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - B9"> </td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">96,250</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Summary of Option Activity - B9"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Summary of Option Activity - D9"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">44.69</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Summary of Option Activity - D9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - F9"> </td><td style="width: 9%; text-align: right;">8.64</td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - F9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - H9"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - H9"> </td></tr><tr><td>Exercisable at March 31, 2026 </td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - B10"> </td><td style="width: 9%; text-align: right; border-width: medium; border-style: none; border-color: currentcolor;"> - </td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - B10"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - D10">$</td><td style="width: 9%; text-align: right; border-width: medium; border-style: none; border-color: currentcolor;">-</td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - D10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - F10"> </td><td style="width: 9%; text-align: right;"> - </td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - F10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - H10">$</td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - H10"> </td></tr></table><div style="font-size: 10pt; color: #000000;"> </div><div style="text-indent: -27pt; text-align: justify; padding-left: 27pt; color: #000000;"> <div style="float: left; width: 27.0pt; white-space: nowrap;"> <span style="font-size: 10.0pt;">(1)</span> </div> <div> <span style="font-size: 10.0pt;">The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying options and the closing price of the common stock for the options that were in the money as of March 31, 2026.</span> </div> </div>
<div style="font-size: 10pt; color: #000000; clear: both;">
</div>
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">The Company estimates the fair value of options awarded on the date of grant using the Black-Scholes option-pricing model, which requires inputs based on certain subjective assumptions, including (i) the expected stock price volatility, (ii) the expected term of the award, (iii) the risk-free interest rate, and (iv) expected dividends. The Company estimates the expected term of options using the simplified method described in Staff Accounting Bulletin Topic 14, as amended, as it does not have sufficient historical experience for determining the expected term of the awards granted. Expected volatility is estimated based on the monthly volatility of the Company’s stock. The risk-free rate for the expected term of the option is based on the U.S Treasury yield curve at the date of grant. The expected dividend yield is 0% as the Company has not paid and does not expect to pay cash dividends. The Company recognizes forfeitures as they occur.</span> </div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">The assumptions used in the Black-Scholes option-pricing model for stock options granted were:</span> </div>
<div style="text-align: justify; color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Assumptions Used Black-Scholes - B4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); font-weight: bold;">2025</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Assumptions Used Black-Scholes - B4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Expected volatility </td><td style="width: 1%; text-align: left;" title="Note 6 - Assumptions Used Black-Scholes - B5"> </td><td style="width: 9%; text-align: right;">31.90</td><td style="width: 1%; text-align: left;" title="Note 6 - Assumptions Used Black-Scholes - B5">%</td></tr><tr><td>Weighted-average risk-free interest rate </td><td style="width: 1%; text-align: left;" title="Note 6 - Assumptions Used Black-Scholes - B6"> </td><td style="width: 9%; text-align: right;">3.84</td><td style="width: 1%; text-align: left;" title="Note 6 - Assumptions Used Black-Scholes - B6">%</td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Expected dividend yield </td><td style="width: 1%; text-align: left;" title="Note 6 - Assumptions Used Black-Scholes - B7"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 6 - Assumptions Used Black-Scholes - B7">%</td></tr><tr><td>Expected term (in years) </td><td style="width: 1%; text-align: left;" title="Note 6 - Assumptions Used Black-Scholes - B8"> </td><td style="width: 9%; text-align: right;">5.0 - 7.5</td><td style="width: 1%; text-align: left;" title="Note 6 - Assumptions Used Black-Scholes - B8"> </td></tr></table><div style="text-align: justify; color: #000000;"> </div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">The
weighted-average grant-date fair value of options granted during 2025 was
$18.32 per share. There are no options exercisable under the Plan as of March
31, 2026.</div>
<div style="text-align: justify; color: #000000;"> </div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">During 2025, the
Board of Directors and Compensation Committee granted $1,763,747 of stock
options with service-based conditions to certain employees and officers of the
Company. Compensation expense related to awards with service requirements is
recognized over a straight-line basis based on grant date fair value over the associated
service period of the award, which is typically the vesting period. The options
granted in 2025 will vest annually over a five-year period.</div>
<div style="text-align: justify; color: #000000;"> </div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">Total
unrecognized compensation expense related to non-vested stock options granted
under the Plan was $1,557,977 as of March 31, 2026, with the cost expected to
be recognized over a weighted-average period of approximately 4.42 years.</div><div style="color: #000000;"> </div>
<div style="margin: 0in; font-size: 10pt; text-align: justify; line-height: 115%;"><span style="mso-bidi-font-size:10.0pt;line-height:115%">The
Company recognized stock-based compensation expense related to stock options of
$88,187 and $0 for the three months ended March 31, 2026 and 2025,
respectively.</span></div><div style="color: #000000;"> </div><div style="text-align: justify; color: rgb(0, 0, 0); font-size: 10pt; font-weight: bold;"> Earnings Per Share Calculations</div><div style="font-size: 10pt; color: #000000;">
</div><div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">Basic earnings per share (“EPS”) are based on the weighted average number of common shares outstanding during each period. Diluted EPS is computed based on the weighted average number of common shares plus the effect of dilutive potential common shares outstanding during each period using the treasury stock method. Dilutive potential common shares include outstanding stock options and stock awards.</span>
</div><div style="font-size: 10pt; color: #000000;">
</div><div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">The components of basic and diluted EPS were as follows:</span> </div><div style="text-align: justify; color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td> </td><td colspan="7" style="text-align: center;">Three Months Ended</td></tr><tr><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Comp of Basic and Diluted EPS - B5"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Comp of Basic and Diluted EPS - B5"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Comp of Basic and Diluted EPS - D5"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2025</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Comp of Basic and Diluted EPS - D5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Basic weighted average shares outstanding</td><td style="width: 1%; text-align: left;" title="Note 6 - Comp of Basic and Diluted EPS - B6"> </td><td style="width: 9%; text-align: right;">3,141,417</td><td style="width: 1%; text-align: left;" title="Note 6 - Comp of Basic and Diluted EPS - B6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 6 - Comp of Basic and Diluted EPS - D6"> </td><td style="width: 9%; text-align: right;">3,156,550</td><td style="width: 1%; text-align: left;" title="Note 6 - Comp of Basic and Diluted EPS - D6"> </td></tr><tr><td>Weighted average dilutive options outstanding</td><td style="width: 1%; text-align: left;" title="Note 6 - Comp of Basic and Diluted EPS - B7"> </td><td style="width: 9%; text-align: right;">17,693</td><td style="width: 1%; text-align: left;" title="Note 6 - Comp of Basic and Diluted EPS - B7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 6 - Comp of Basic and Diluted EPS - D7"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 6 - Comp of Basic and Diluted EPS - D7"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Diluted weighted average shares outstanding</td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 6 - Comp of Basic and Diluted EPS - B8"> </td><td style="width: 9%; text-align: right; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;">3,159,110</td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 6 - Comp of Basic and Diluted EPS - B8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 6 - Comp of Basic and Diluted EPS - D8"> </td><td style="width: 9%; text-align: right; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;">3,156,550</td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 6 - Comp of Basic and Diluted EPS - D8"> </td></tr></table>
1733
90134
26000000
3521
195773
21035328
1402790
300000
96250
203750
0
P10Y
P10Y
1
1.10
0.10
<div style="color: #000000;"> <span style="font-size: 10.0pt;">The following table provides a summary of option activity under the Plan:</span> </div>
<div style="font-size: 10pt; color: #000000;"> </div><table cellpadding="0" style="white-space: nowrap; font-size: 10pt; border-collapse: collapse; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td style="text-align: left;"> </td><td style="width: 1%; text-align: center; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - B3"> </td><td style="width: 9%; text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - B3"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - D3"> </td><td style="width: 9%; text-align: center;"> </td><td style="width: 1%; text-align: center; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - D3"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - F3"> </td><td style="width: 9%; text-align: center; font-weight: bold;">Weighted average</td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - F3"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - H3"> </td><td style="width: 9%; text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - H3"> </td></tr><tr><td style="text-align: center;"> </td><td style="width: 1%; text-align: center; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - B4"> </td><td style="width: 9%; text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - B4"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - D4"> </td><td style="width: 9%; text-align: center; font-weight: bold;">Weighted</td><td style="width: 1%; text-align: center; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - D4"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - F4"> </td><td style="width: 9%; text-align: center; font-weight: bold;">remaining</td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - F4"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - H4"> </td><td style="width: 9%; text-align: center; font-weight: bold;">Aggregate</td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - H4"> </td></tr><tr><td style="text-align: left;"> </td><td style="width: 1%; text-align: center; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - B5"> </td><td style="width: 9%; text-align: center; font-weight: bold;">Number of</td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - B5"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - D5"> </td><td style="width: 9%; text-align: center; font-weight: bold;">average exercise</td><td style="width: 1%; text-align: center; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - D5"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - F5"> </td><td style="width: 9%; text-align: center; font-weight: bold;">contractual</td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - F5"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - H5"> </td><td style="width: 9%; text-align: center; font-weight: bold;">intrinsic value</td><td style="width: 1%; text-align: center;" title="Note 6 - Summary of Option Activity - H5"> </td></tr><tr><td style="text-align: left;"> </td><td style="width: 1%; text-align: center; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - B6"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); font-weight: bold;">options </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Summary of Option Activity - B6"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Summary of Option Activity - D6"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); font-weight: bold;">price </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Summary of Option Activity - D6"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Summary of Option Activity - F6"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); font-weight: bold;">life (years)</td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Summary of Option Activity - F6"> </td><td style="text-align: center;"> </td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Summary of Option Activity - H6"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); font-weight: bold;">(1)</td><td style="width: 1%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Summary of Option Activity - H6"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Outstanding at December 31, 2025</td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - B7"> </td><td style="width: 9%; text-align: right;">96,250</td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - B7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - D7">$</td><td style="width: 9%; text-align: right;">45</td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - D7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - F7"> </td><td style="width: 9%; text-align: right;">8.89</td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - F7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - H7">$</td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - H7"> </td></tr><tr><td style="padding-left: 10px;"> Granted</td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - B8"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - B8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - D8"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - D8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - F8"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - F8"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - H8"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - H8"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Outstanding at March 31, 2026</td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - B9"> </td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">96,250</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Summary of Option Activity - B9"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Summary of Option Activity - D9"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">44.69</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Summary of Option Activity - D9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - F9"> </td><td style="width: 9%; text-align: right;">8.64</td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - F9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - H9"> </td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - H9"> </td></tr><tr><td>Exercisable at March 31, 2026 </td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - B10"> </td><td style="width: 9%; text-align: right; border-width: medium; border-style: none; border-color: currentcolor;"> - </td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - B10"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - D10">$</td><td style="width: 9%; text-align: right; border-width: medium; border-style: none; border-color: currentcolor;">-</td><td style="width: 1%; text-align: left; border-width: medium; border-style: none; border-color: currentcolor;" title="Note 6 - Summary of Option Activity - D10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - F10"> </td><td style="width: 9%; text-align: right;"> - </td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - F10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - H10">$</td><td style="width: 9%; text-align: right;">-</td><td style="width: 1%; text-align: left;" title="Note 6 - Summary of Option Activity - H10"> </td></tr></table><div style="font-size: 10pt; color: #000000;"> </div><div style="text-indent: -27pt; text-align: justify; padding-left: 27pt; color: #000000;"> <div style="float: left; width: 27.0pt; white-space: nowrap;"> <span style="font-size: 10.0pt;">(1)</span> </div> <div> <span style="font-size: 10.0pt;">The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying options and the closing price of the common stock for the options that were in the money as of March 31, 2026.</span> </div> </div>
96250
45
P8Y10M20D
0
0
0
0
96250
44.69
P8Y7M20D
0
0
0
0
0
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">The assumptions used in the Black-Scholes option-pricing model for stock options granted were:</span> </div>
<div style="text-align: justify; color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Assumptions Used Black-Scholes - B4"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); font-weight: bold;">2025</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Assumptions Used Black-Scholes - B4"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Expected volatility </td><td style="width: 1%; text-align: left;" title="Note 6 - Assumptions Used Black-Scholes - B5"> </td><td style="width: 9%; text-align: right;">31.90</td><td style="width: 1%; text-align: left;" title="Note 6 - Assumptions Used Black-Scholes - B5">%</td></tr><tr><td>Weighted-average risk-free interest rate </td><td style="width: 1%; text-align: left;" title="Note 6 - Assumptions Used Black-Scholes - B6"> </td><td style="width: 9%; text-align: right;">3.84</td><td style="width: 1%; text-align: left;" title="Note 6 - Assumptions Used Black-Scholes - B6">%</td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Expected dividend yield </td><td style="width: 1%; text-align: left;" title="Note 6 - Assumptions Used Black-Scholes - B7"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 6 - Assumptions Used Black-Scholes - B7">%</td></tr><tr><td>Expected term (in years) </td><td style="width: 1%; text-align: left;" title="Note 6 - Assumptions Used Black-Scholes - B8"> </td><td style="width: 9%; text-align: right;">5.0 - 7.5</td><td style="width: 1%; text-align: left;" title="Note 6 - Assumptions Used Black-Scholes - B8"> </td></tr></table>
0.319
0.0384
0
P5Y
P7Y6M
18.32
0
1763747
P5Y
1557977
P4Y5M1D
88187
0
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">The components of basic and diluted EPS were as follows:</span> </div><div style="text-align: justify; color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td> </td><td colspan="7" style="text-align: center;">Three Months Ended</td></tr><tr><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Comp of Basic and Diluted EPS - B5"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Comp of Basic and Diluted EPS - B5"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Comp of Basic and Diluted EPS - D5"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2025</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 6 - Comp of Basic and Diluted EPS - D5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Basic weighted average shares outstanding</td><td style="width: 1%; text-align: left;" title="Note 6 - Comp of Basic and Diluted EPS - B6"> </td><td style="width: 9%; text-align: right;">3,141,417</td><td style="width: 1%; text-align: left;" title="Note 6 - Comp of Basic and Diluted EPS - B6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 6 - Comp of Basic and Diluted EPS - D6"> </td><td style="width: 9%; text-align: right;">3,156,550</td><td style="width: 1%; text-align: left;" title="Note 6 - Comp of Basic and Diluted EPS - D6"> </td></tr><tr><td>Weighted average dilutive options outstanding</td><td style="width: 1%; text-align: left;" title="Note 6 - Comp of Basic and Diluted EPS - B7"> </td><td style="width: 9%; text-align: right;">17,693</td><td style="width: 1%; text-align: left;" title="Note 6 - Comp of Basic and Diluted EPS - B7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 6 - Comp of Basic and Diluted EPS - D7"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 6 - Comp of Basic and Diluted EPS - D7"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Diluted weighted average shares outstanding</td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 6 - Comp of Basic and Diluted EPS - B8"> </td><td style="width: 9%; text-align: right; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;">3,159,110</td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 6 - Comp of Basic and Diluted EPS - B8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 6 - Comp of Basic and Diluted EPS - D8"> </td><td style="width: 9%; text-align: right; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;">3,156,550</td><td style="width: 1%; text-align: left; border-width: 1px medium; border-style: solid none; border-color: rgb(0, 0, 0) currentcolor;" title="Note 6 - Comp of Basic and Diluted EPS - D8"> </td></tr></table>
3141417
3156550
17693
0
3159110
3156550
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Note 8 – Commitments and Contingencies</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The insurance industry has experienced a number of civil jury verdicts which have been returned against life and health insurers in the jurisdictions in which the Company does business involving the insurers’ sales practices, alleged agent misconduct, failure to properly supervise agents, and other matters. Some of the lawsuits have resulted in the award of substantial judgments against the insurer, including material amounts of punitive damages. In some states, juries have substantial discretion in awarding punitive damages in these circumstances. In the normal course of business, the Company is involved from time to time in various legal actions and other state and federal proceedings. Management is of the opinion that the ultimate disposition of the matters will not have a materially adverse effect on the Company’s results of operations or financial position.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">Under the insurance guaranty fund laws in most states, insurance companies doing business in a participating state can be assessed up to prescribed limits for policyholder losses incurred by insolvent or failed insurance companies. Although the Company cannot predict the amount of any future assessments, most insurance guaranty fund laws currently provide that an assessment may be excused or deferred if it would threaten an insurer’s financial strength. Mandatory assessments may be partially recovered through a reduction in future premium tax in some states. The Company does not believe such assessments will be materially different from amounts already provided for in the consolidated financial statements, though the Company has no control over such assessments.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">Mortgage Loan Commitments -<i style="mso-bidi-font-style:normal"> </i>The
Company commits to lend funds under mortgage loan commitments. The Company had
no mortgage loan commitments at March 31, 2026 and December 31, 2025.</div><div style="font-size: 10pt; color: #000000;">
</div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">Notes Receivable Commitments - The Company commits to lend funds under
notes receivable funding commitments. The amounts of these notes receivable
commitments were $625,000 and $625,000 at March 31, 2026 and December 31, 2025, respectively.</div><div style="font-size: 10pt; color: #000000;">
</div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">Commitments to Fund Limited Liability Company and Limited Partnership
Investments - The Company commits to fund investments in limited liability
companies and limited partnerships. The amounts of the unfunded commitments
were $22,693,730 and $23,174,978 at March 31, 2026 and December 31, 2025, respectively.</div>
0
0
625000
625000
22693730
23174978
<div style="color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Note 9 – Other Cash Flow Disclosures</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="color: #000000;"> <span style="font-size: 10.0pt;">On a cash basis, the Company paid the following expenses:</span> </div>
<div style="font-size: 10pt; color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td colspan="7" style="text-align: center;">Three Months Ended</td></tr><tr><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31,</td></tr><tr><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 8 - Expenses - B5"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">2026</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 8 - Expenses - B5"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 8 - Expenses - D5"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">2025</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 8 - Expenses - D5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Interest </td><td style="width: 1%; text-align: left;" title="Note 8 - Expenses - B6">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 8 - Expenses - B6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 8 - Expenses - D6">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 8 - Expenses - D6"> </td></tr><tr><td>Federal income tax</td><td style="width: 1%; text-align: left;" title="Note 8 - Expenses - B7"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 8 - Expenses - B7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 8 - Expenses - D7"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 8 - Expenses - D7"> </td></tr></table>
<div style="color: #000000;"> <span style="font-size: 10.0pt;">On a cash basis, the Company paid the following expenses:</span> </div>
<div style="font-size: 10pt; color: #000000;"> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td colspan="7" style="text-align: center;">Three Months Ended</td></tr><tr><td> </td><td colspan="7" style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31,</td></tr><tr><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 8 - Expenses - B5"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">2026</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 8 - Expenses - B5"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 8 - Expenses - D5"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">2025</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 8 - Expenses - D5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Interest </td><td style="width: 1%; text-align: left;" title="Note 8 - Expenses - B6">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 8 - Expenses - B6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 8 - Expenses - D6">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 8 - Expenses - D6"> </td></tr><tr><td>Federal income tax</td><td style="width: 1%; text-align: left;" title="Note 8 - Expenses - B7"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 8 - Expenses - B7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 8 - Expenses - D7"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 8 - Expenses - D7"> </td></tr></table>
0
0
0
0
<div style="color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Note 10 – Concentrations of Credit Risk</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The Company maintains cash balances in financial institutions that at times may exceed federally insured limits. The Company maintains its primary operating cash accounts with First Southern National Bank, an affiliate of the largest shareholder of UTG, Mr. Jesse Correll, the Company’s CEO and Chairman. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash and cash equivalents.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">Because
UTG serves primarily individuals located in three states, the ability of the Company's customers to pay their
insurance premiums is impacted by the economic conditions in these areas.
As of March 31, 2026 and 2025,
approximately 52% and 51% of the Company’s total direct premium was
collected from Illinois, Ohio, and Texas. Thus, results of operations are heavily
dependent upon the strength of these economies.</div><div style="text-align: justify; color: #000000;"> </div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">The
Company reinsures that portion of insurance risk which is in excess of its
retention limits. Retention limits range up to $125,000 per life. Life insurance
ceded represented 20% of total life
insurance in force at March 31, 2026 and
December 31, 2025,
respectively. Insurance ceded represented 24% of premium income for the three months
ended March 31, 2026 and 2025, respectively.
The Company would be liable for the reinsured risks ceded to other companies to
the extent that such reinsuring companies are unable to meet their obligations.</div><div style="font-size: 10pt; color: #000000;">
</div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;"><span style="mso-fareast-font-family:"Times New Roman"">The
Company owns a variety of investments associated with the oil and gas industry.
These investments represent approximately 39%
and 35%
of the Company’s total invested assets as of March 31, 2026
and December 31, 2025,
respectively.</span><span style="mso-fareast-font-family:"Times New Roman"; mso-bidi-language:EN-US"> </span></div><div style="color: #000000;"> </div><table cellpadding="0" style="font-size: 10pt; border-collapse: collapse; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td> </td><td style="width: 1%;" title="Note 9 - Oil & Gas Investments by Type - C2"> </td><td style="text-align: center; width: 9%;">Land, Minerals &</td><td style="width: 1%;" title="Note 9 - Oil & Gas Investments by Type - C2"> </td><td> </td><td style="width: 1%;" title="Note 9 - Oil & Gas Investments by Type - E2"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 9 - Oil & Gas Investments by Type - E2"> </td><td> </td><td style="width: 1%;" title="Note 9 - Oil & Gas Investments by Type - G2"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 9 - Oil & Gas Investments by Type - G2"> </td></tr><tr><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 9 - Oil & Gas Investments by Type - C3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Royalty Interests</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 9 - Oil & Gas Investments by Type - C3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 9 - Oil & Gas Investments by Type - E3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Exploration</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 9 - Oil & Gas Investments by Type - E3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 9 - Oil & Gas Investments by Type - G3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Total</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 9 - Oil & Gas Investments by Type - G3"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Fixed maturities, at fair value</td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C4">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C4"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E4">$</td><td style="width: 9%; text-align: right;">1,046,210</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E4"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G4">$</td><td style="width: 9%; text-align: right;">1,046,210</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G4"> </td></tr><tr><td>Equity securities, at fair value</td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C5"> </td><td style="width: 9%; text-align: right;">157,498,921</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E5"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G5"> </td><td style="width: 9%; text-align: right;">157,498,921</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Equity securities, at cost</td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C6"> </td><td style="width: 9%; text-align: right;">3,696,763</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E6"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G6"> </td><td style="width: 9%; text-align: right;">3,696,763</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G6"> </td></tr><tr><td>Investment real estate</td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C7"> </td><td style="width: 9%; text-align: right;">9,438,515</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E7"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G7"> </td><td style="width: 9%; text-align: right;">9,438,515</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G7"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Notes receivable</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - C8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">1,875,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - C8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - E8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">0</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - E8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - G8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">1,875,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - G8"> </td></tr><tr><td>Total</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - C9">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">172,509,199</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - C9"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - E9">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">1,046,210</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - E9"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - G9">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">173,555,409</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - G9"> </td></tr></table><div style="color: #000000;"> </div><table cellpadding="0" style="font-size: 10pt; border-collapse: collapse; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td> </td><td style="width: 1%;" title="Note 9 - Oil & Gas Investments by Type - C13"> </td><td style="text-align: center; width: 9%;">Land, Minerals &</td><td style="width: 1%;" title="Note 9 - Oil & Gas Investments by Type - C13"> </td><td> </td><td style="width: 1%;" title="Note 9 - Oil & Gas Investments by Type - E13"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 9 - Oil & Gas Investments by Type - E13"> </td><td> </td><td style="width: 1%;" title="Note 9 - Oil & Gas Investments by Type - G13"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 9 - Oil & Gas Investments by Type - G13"> </td></tr><tr><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">December 31, 2025</td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 9 - Oil & Gas Investments by Type - C14"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Royalty Interests</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 9 - Oil & Gas Investments by Type - C14"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 9 - Oil & Gas Investments by Type - E14"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Exploration</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 9 - Oil & Gas Investments by Type - E14"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 9 - Oil & Gas Investments by Type - G14"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Total</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 9 - Oil & Gas Investments by Type - G14"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Fixed maturities, at fair value</td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C15">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C15"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E15">$</td><td style="width: 9%; text-align: right;">1,061,720</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E15"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G15">$</td><td style="width: 9%; text-align: right;">1,061,720</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G15"> </td></tr><tr><td>Equity securities, at fair value</td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C16"> </td><td style="width: 9%; text-align: right;">136,129,315</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E16"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G16"> </td><td style="width: 9%; text-align: right;">136,129,315</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G16"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Equity securities, at cost</td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C17"> </td><td style="width: 9%; text-align: right;">3,904,565</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C17"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E17"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E17"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G17"> </td><td style="width: 9%; text-align: right;">3,904,565</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G17"> </td></tr><tr><td>Investment real estate</td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C18"> </td><td style="width: 9%; text-align: right;">9,879,784</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C18"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E18"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E18"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G18"> </td><td style="width: 9%; text-align: right;">9,879,784</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G18"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Notes receivable</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - C19"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">1,875,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - C19"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - E19"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">0</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - E19"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - G19"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">1,875,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - G19"> </td></tr><tr><td>Total</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - C20">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">151,788,664</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - C20"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - E20">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">1,061,720</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - E20"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - G20">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">152,850,384</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - G20"> </td></tr></table><div style="color: #000000;"> </div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;"><span style="mso-fareast-font-family:"Times New Roman";mso-bidi-language:EN-US">At March
31, 2026 and
</span><span style="mso-fareast-font-family: "Times New Roman";mso-bidi-language:EN-US">December 31, 2025, the Company owned </span><span style="mso-fareast-font-family:"Times New Roman";mso-bidi-language:EN-US">4</span><span style="mso-fareast-font-family: "Times New Roman";mso-bidi-language:EN-US"> equity securities that represented
approximately 80%, respectively, of the total
investments associated with the oil and gas industry.</span></div><div style="text-align: justify; color: #000000;"> </div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">The
Company’s results of operations and financial condition have in the past been,
and may in the future be, adversely affected by the degree of certain industry
specific concentrations in the Company’s investment portfolio. The Company has
significant exposure to investments associated with the oil and gas industry.
Events or developments that have a negative effect on the oil and gas industry
may adversely affect the valuation of our investments in this specific
industry. The Company’s ability to sell its investments associated with the oil
and gas industry may be limited.</div>
3
0.52
0.51
125000
0.20
0.20
0.24
0.24
<div style="margin: 0in; font-size: 10pt; text-align: justify;"><span style="mso-fareast-font-family:"Times New Roman"">The
Company owns a variety of investments associated with the oil and gas industry.
These investments represent approximately 39%
and 35%
of the Company’s total invested assets as of March 31, 2026
and December 31, 2025,
respectively.</span><span style="mso-fareast-font-family:"Times New Roman"; mso-bidi-language:EN-US"> </span></div><div style="color: #000000;"> </div><table cellpadding="0" style="font-size: 10pt; border-collapse: collapse; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td> </td><td style="width: 1%;" title="Note 9 - Oil & Gas Investments by Type - C2"> </td><td style="text-align: center; width: 9%;">Land, Minerals &</td><td style="width: 1%;" title="Note 9 - Oil & Gas Investments by Type - C2"> </td><td> </td><td style="width: 1%;" title="Note 9 - Oil & Gas Investments by Type - E2"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 9 - Oil & Gas Investments by Type - E2"> </td><td> </td><td style="width: 1%;" title="Note 9 - Oil & Gas Investments by Type - G2"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 9 - Oil & Gas Investments by Type - G2"> </td></tr><tr><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">March 31, 2026</td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 9 - Oil & Gas Investments by Type - C3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Royalty Interests</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 9 - Oil & Gas Investments by Type - C3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 9 - Oil & Gas Investments by Type - E3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Exploration</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 9 - Oil & Gas Investments by Type - E3"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 9 - Oil & Gas Investments by Type - G3"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Total</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 9 - Oil & Gas Investments by Type - G3"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Fixed maturities, at fair value</td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C4">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C4"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E4">$</td><td style="width: 9%; text-align: right;">1,046,210</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E4"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G4">$</td><td style="width: 9%; text-align: right;">1,046,210</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G4"> </td></tr><tr><td>Equity securities, at fair value</td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C5"> </td><td style="width: 9%; text-align: right;">157,498,921</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E5"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E5"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G5"> </td><td style="width: 9%; text-align: right;">157,498,921</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G5"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Equity securities, at cost</td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C6"> </td><td style="width: 9%; text-align: right;">3,696,763</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E6"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E6"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G6"> </td><td style="width: 9%; text-align: right;">3,696,763</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G6"> </td></tr><tr><td>Investment real estate</td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C7"> </td><td style="width: 9%; text-align: right;">9,438,515</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E7"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E7"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G7"> </td><td style="width: 9%; text-align: right;">9,438,515</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G7"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Notes receivable</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - C8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">1,875,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - C8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - E8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">0</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - E8"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - G8"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">1,875,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - G8"> </td></tr><tr><td>Total</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - C9">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">172,509,199</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - C9"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - E9">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">1,046,210</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - E9"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - G9">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">173,555,409</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - G9"> </td></tr></table><div style="color: #000000;"> </div><table cellpadding="0" style="font-size: 10pt; border-collapse: collapse; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr style="height: 0px; font-size: 0px;"><td></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 1%;"></td><td style="width: 9%;"></td><td style="width: 1%;"></td></tr><tr><td> </td><td> </td><td style="width: 1%;" title="Note 9 - Oil & Gas Investments by Type - C13"> </td><td style="text-align: center; width: 9%;">Land, Minerals &</td><td style="width: 1%;" title="Note 9 - Oil & Gas Investments by Type - C13"> </td><td> </td><td style="width: 1%;" title="Note 9 - Oil & Gas Investments by Type - E13"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 9 - Oil & Gas Investments by Type - E13"> </td><td> </td><td style="width: 1%;" title="Note 9 - Oil & Gas Investments by Type - G13"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 9 - Oil & Gas Investments by Type - G13"> </td></tr><tr><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">December 31, 2025</td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 9 - Oil & Gas Investments by Type - C14"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Royalty Interests</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 9 - Oil & Gas Investments by Type - C14"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 9 - Oil & Gas Investments by Type - E14"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Exploration</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 9 - Oil & Gas Investments by Type - E14"> </td><td> </td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 9 - Oil & Gas Investments by Type - G14"> </td><td style="text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 9%;">Total</td><td style="border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0); width: 1%;" title="Note 9 - Oil & Gas Investments by Type - G14"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Fixed maturities, at fair value</td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C15">$</td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C15"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E15">$</td><td style="width: 9%; text-align: right;">1,061,720</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E15"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G15">$</td><td style="width: 9%; text-align: right;">1,061,720</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G15"> </td></tr><tr><td>Equity securities, at fair value</td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C16"> </td><td style="width: 9%; text-align: right;">136,129,315</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E16"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G16"> </td><td style="width: 9%; text-align: right;">136,129,315</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G16"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Equity securities, at cost</td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C17"> </td><td style="width: 9%; text-align: right;">3,904,565</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C17"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E17"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E17"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G17"> </td><td style="width: 9%; text-align: right;">3,904,565</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G17"> </td></tr><tr><td>Investment real estate</td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C18"> </td><td style="width: 9%; text-align: right;">9,879,784</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - C18"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E18"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - E18"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G18"> </td><td style="width: 9%; text-align: right;">9,879,784</td><td style="width: 1%; text-align: left;" title="Note 9 - Oil & Gas Investments by Type - G18"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Notes receivable</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - C19"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">1,875,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - C19"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - E19"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">0</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - E19"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - G19"> </td><td style="width: 9%; text-align: right; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">1,875,000</td><td style="width: 1%; text-align: left; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - G19"> </td></tr><tr><td>Total</td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - C20">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">151,788,664</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - C20"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - E20">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">1,061,720</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - E20"> </td><td> </td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - G20">$</td><td style="width: 9%; text-align: right; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);">152,850,384</td><td style="width: 1%; text-align: left; border-width: medium medium 3px; border-style: none none double; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 9 - Oil & Gas Investments by Type - G20"> </td></tr></table>
0.39
0.35
0
1046210
1046210
157498921
0
157498921
3696763
0
3696763
9438515
0
9438515
1875000
0
1875000
172509199
1046210
173555409
0
1061720
1061720
136129315
0
136129315
3904565
0
3904565
9879784
0
9879784
1875000
0
1875000
151788664
1061720
152850384
4
4
0.80
0.80
<div style="color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Note 11 – Segment Information</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;"> <span style="font-size: 10.0pt;">The Company is organized into a <span style="-sec-ix-hidden: hidden-fact-1">single</span> reportable segment: insurance distribution. The Company derives its revenue entirely from within the United States and manages business activities on a consolidated basis. The Company’s chief operating decision maker is its Chief Executive Officer.</span> </div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The accounting policies of the insurance distribution segment are the same as those described in the summary of significant accounting policies. The chief operating decision maker uses net income or loss, as reported on the Consolidated Statements of Operations, to assess performance and allocate resources for the insurance distribution segment. The significant segment expense categories regularly provided to the chief operating decision maker are the same as those included on the Consolidated Statements of Operations. The measure of segment assets is total assets as reported on the Consolidated Balance Sheets.</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt;">The chief operating decision maker uses net income or loss to assess performance by examining period-over-period trends and monitoring budget versus actual results.</span>
</div>
<div style="text-align: justify; color: #000000;">
<span style="font-size: 10.0pt; font-weight: bold;">Note 12 – Revision of Previously Issued Consolidated Financial Statements</span>
</div>
<div style="font-size: 10pt; color: #000000;">
</div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">As disclosed in Note 17 of the December 31, 2025 Form 10-K filing,
the Company
adopted ASU 2018-12 on December 31, 2025, for the liability for future policy
benefits. ASU 2018-12 was adopted on a modified retrospective basis such that
the balance for the liability for future policy benefits was adjusted to
conform to ASU 2018-12 effective January 1, 2024. With respect to an analysis
for market risk benefits, the Company concluded that it had no market-based
options or guarantees associated with its liability for policyholders’ account
balances. Also, the Company does not currently have a deferred acquisition cost
asset and did not have such an asset at January 1, 2024.</div><div style="font-size: 10pt; color: #000000;">
</div>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">To improve the consistency and comparability of the 2025 quarterly
condensed consolidated financial statements, Management will revise the March 31,
2025 condensed consolidated financial statements and related disclosures to reflect
the implementation.</div><div> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B6"> </td><td style="width: 9%; text-align: center;">As Previously</td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B6"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D6"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D6"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F6"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F6"> </td></tr><tr><td style="text-decoration: underline;">March 31, 2025</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 11 - Rev of Financial Statement - B7"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Reported</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 11 - Rev of Financial Statement - B7"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 11 - Rev of Financial Statement - D7"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Adjustments</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 11 - Rev of Financial Statement - D7"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 11 - Rev of Financial Statement - F7"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">As Restated</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 11 - Rev of Financial Statement - F7"> </td></tr><tr><td>Consolidated Balance Sheets</td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B8"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B8"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D8"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D8"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F8"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F8"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Future policy benefits</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B9">$</td><td style="width: 9%; text-align: right;">216,786,456</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D9">$</td><td style="width: 9%; text-align: right;">(101,318,625</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D9">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F9">$</td><td style="width: 9%; text-align: right;">115,467,831</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F9"> </td></tr><tr><td>Policyholder account balances</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B9"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D9"> </td><td style="width: 9%; text-align: right;">94,582,639</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F9"> </td><td style="width: 9%; text-align: right;">94,582,639</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F9"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Deferred income taxes</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B10"> </td><td style="width: 9%; text-align: right;">26,968,767</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D10"> </td><td style="width: 9%; text-align: right;">1,414,557</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F10"> </td><td style="width: 9%; text-align: right;">28,383,324</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F10"> </td></tr><tr><td>Retained earnings</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B11"> </td><td style="width: 9%; text-align: right;">193,406,264</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D11"> </td><td style="width: 9%; text-align: right;">882,526</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F11"> </td><td style="width: 9%; text-align: right;">194,288,790</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F11"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Accumulated other comprehensive income (loss)</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B12"> </td><td style="width: 9%; text-align: right;">(2,213,770</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B12">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D12"> </td><td style="width: 9%; text-align: right;">4,438,903</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F12"> </td><td style="width: 9%; text-align: right;">2,225,133</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F12"> </td></tr><tr><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B13"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B13"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D13"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D13"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F13"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F13"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B14"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B14"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D14"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D14"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F14"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F14"> </td></tr><tr><td>Consolidated Statements of Operations</td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B15"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B15"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D15"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D15"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F15"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F15"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Benefits, claims and settlement expenses: Life</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B16">$</td><td style="width: 9%; text-align: right;">3,401,007</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D16">$</td><td style="width: 9%; text-align: right;">(225,261</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D16">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F16">$</td><td style="width: 9%; text-align: right;">3,175,746</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F16"> </td></tr><tr><td>Income tax expense</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B17"> </td><td style="width: 9%; text-align: right;">3,750,990</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B17"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D17"> </td><td style="width: 9%; text-align: right;">47,305</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D17"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F17"> </td><td style="width: 9%; text-align: right;">3,798,295</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F17"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Net income attributable to common shareholders</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B18"> </td><td style="width: 9%; text-align: right;">12,774,687</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B18"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D18"> </td><td style="width: 9%; text-align: right;">177,956</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D18"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F18"> </td><td style="width: 9%; text-align: right;">12,952,643</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F18"> </td></tr><tr><td>Basic income per share</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B19"> </td><td style="width: 9%; text-align: right;">4.05</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B19"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D19"> </td><td style="width: 9%; text-align: right;">0.05</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D19"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F19"> </td><td style="width: 9%; text-align: right;">4.10</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F19"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Diluted income per share</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B20"> </td><td style="width: 9%; text-align: right;">4.05</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B20"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D20"> </td><td style="width: 9%; text-align: right;">0.05</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D20"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F20"> </td><td style="width: 9%; text-align: right;">4.10</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F20"> </td></tr><tr><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B21"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B21"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D21"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D21"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F21"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F21"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B22"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B22"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D22"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D22"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F22"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F22"> </td></tr><tr><td>Consolidated Statements of Comprehensive Income (Loss)</td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B23"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B23"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D23"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D23"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F23"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F23"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Net income</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B24">$</td><td style="width: 9%; text-align: right;">12,798,260</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B24"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D24">$</td><td style="width: 9%; text-align: right;">177,956</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D24"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F24">$</td><td style="width: 9%; text-align: right;">12,976,216</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F24"> </td></tr><tr><td>Subtotal: Other comprehensive income (loss), net of tax</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B25"> </td><td style="width: 9%; text-align: right;">728,543</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B25"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D25"> </td><td style="width: 9%; text-align: right;">(1,098,666</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D25">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F25"> </td><td style="width: 9%; text-align: right;">(370,123</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F25">) </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Comprehensive income (loss) attributable to UTG, Inc.</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B26"> </td><td style="width: 9%; text-align: right;">13,503,230</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B26"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D26"> </td><td style="width: 9%; text-align: right;">(920,710</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D26">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F26"> </td><td style="width: 9%; text-align: right;">12,582,520</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F26"> </td></tr><tr><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B27"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B27"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D27"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D27"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F27"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F27"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B28"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B28"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D28"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D28"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F28"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F28"> </td></tr><tr><td>Consolidated Statements of Cash Flows</td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B29"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B29"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D29"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D29"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F29"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F29"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Net income</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B30">$</td><td style="width: 9%; text-align: right;">12,798,260</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B30"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D30">$</td><td style="width: 9%; text-align: right;">177,956</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D30"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F30">$</td><td style="width: 9%; text-align: right;">12,976,216</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F30"> </td></tr><tr><td>Provision for deferred income tax expense</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B31"> </td><td style="width: 9%; text-align: right;">3,703,042</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B31"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D31"> </td><td style="width: 9%; text-align: right;">47,305</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D31"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F31"> </td><td style="width: 9%; text-align: right;">3,750,347</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F31"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Change in policy liabilities and accruals</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B32"> </td><td style="width: 9%; text-align: right;">(1,298,156</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B32">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D32"> </td><td style="width: 9%; text-align: right;">(225,261</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D32">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F32"> </td><td style="width: 9%; text-align: right;">(1,523,417</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F32">) </td></tr></table>
<div style="margin: 0in; font-size: 10pt; text-align: justify;">To improve the consistency and comparability of the 2025 quarterly
condensed consolidated financial statements, Management will revise the March 31,
2025 condensed consolidated financial statements and related disclosures to reflect
the implementation.</div><div> </div><table cellpadding="0" style="border-collapse: collapse; font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%; border-spacing: 0px;"><tr><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B6"> </td><td style="width: 9%; text-align: center;">As Previously</td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B6"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D6"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D6"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F6"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F6"> </td></tr><tr><td style="text-decoration: underline;">March 31, 2025</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 11 - Rev of Financial Statement - B7"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Reported</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 11 - Rev of Financial Statement - B7"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 11 - Rev of Financial Statement - D7"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">Adjustments</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 11 - Rev of Financial Statement - D7"> </td><td> </td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 11 - Rev of Financial Statement - F7"> </td><td style="width: 9%; text-align: center; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);">As Restated</td><td style="width: 1%; border-width: medium medium 1px; border-style: none none solid; border-color: currentcolor currentcolor rgb(0, 0, 0);" title="Note 11 - Rev of Financial Statement - F7"> </td></tr><tr><td>Consolidated Balance Sheets</td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B8"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B8"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D8"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D8"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F8"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F8"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Future policy benefits</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B9">$</td><td style="width: 9%; text-align: right;">216,786,456</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D9">$</td><td style="width: 9%; text-align: right;">(101,318,625</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D9">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F9">$</td><td style="width: 9%; text-align: right;">115,467,831</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F9"> </td></tr><tr><td>Policyholder account balances</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B9"> </td><td style="width: 9%; text-align: right;">0</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D9"> </td><td style="width: 9%; text-align: right;">94,582,639</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D9"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F9"> </td><td style="width: 9%; text-align: right;">94,582,639</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F9"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Deferred income taxes</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B10"> </td><td style="width: 9%; text-align: right;">26,968,767</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D10"> </td><td style="width: 9%; text-align: right;">1,414,557</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D10"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F10"> </td><td style="width: 9%; text-align: right;">28,383,324</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F10"> </td></tr><tr><td>Retained earnings</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B11"> </td><td style="width: 9%; text-align: right;">193,406,264</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D11"> </td><td style="width: 9%; text-align: right;">882,526</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D11"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F11"> </td><td style="width: 9%; text-align: right;">194,288,790</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F11"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Accumulated other comprehensive income (loss)</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B12"> </td><td style="width: 9%; text-align: right;">(2,213,770</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B12">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D12"> </td><td style="width: 9%; text-align: right;">4,438,903</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D12"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F12"> </td><td style="width: 9%; text-align: right;">2,225,133</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F12"> </td></tr><tr><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B13"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B13"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D13"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D13"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F13"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F13"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B14"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B14"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D14"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D14"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F14"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F14"> </td></tr><tr><td>Consolidated Statements of Operations</td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B15"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B15"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D15"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D15"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F15"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F15"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Benefits, claims and settlement expenses: Life</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B16">$</td><td style="width: 9%; text-align: right;">3,401,007</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B16"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D16">$</td><td style="width: 9%; text-align: right;">(225,261</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D16">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F16">$</td><td style="width: 9%; text-align: right;">3,175,746</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F16"> </td></tr><tr><td>Income tax expense</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B17"> </td><td style="width: 9%; text-align: right;">3,750,990</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B17"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D17"> </td><td style="width: 9%; text-align: right;">47,305</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D17"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F17"> </td><td style="width: 9%; text-align: right;">3,798,295</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F17"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Net income attributable to common shareholders</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B18"> </td><td style="width: 9%; text-align: right;">12,774,687</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B18"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D18"> </td><td style="width: 9%; text-align: right;">177,956</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D18"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F18"> </td><td style="width: 9%; text-align: right;">12,952,643</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F18"> </td></tr><tr><td>Basic income per share</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B19"> </td><td style="width: 9%; text-align: right;">4.05</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B19"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D19"> </td><td style="width: 9%; text-align: right;">0.05</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D19"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F19"> </td><td style="width: 9%; text-align: right;">4.10</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F19"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Diluted income per share</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B20"> </td><td style="width: 9%; text-align: right;">4.05</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B20"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D20"> </td><td style="width: 9%; text-align: right;">0.05</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D20"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F20"> </td><td style="width: 9%; text-align: right;">4.10</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F20"> </td></tr><tr><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B21"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B21"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D21"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D21"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F21"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F21"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B22"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B22"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D22"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D22"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F22"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F22"> </td></tr><tr><td>Consolidated Statements of Comprehensive Income (Loss)</td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B23"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B23"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D23"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D23"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F23"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F23"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Net income</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B24">$</td><td style="width: 9%; text-align: right;">12,798,260</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B24"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D24">$</td><td style="width: 9%; text-align: right;">177,956</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D24"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F24">$</td><td style="width: 9%; text-align: right;">12,976,216</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F24"> </td></tr><tr><td>Subtotal: Other comprehensive income (loss), net of tax</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B25"> </td><td style="width: 9%; text-align: right;">728,543</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B25"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D25"> </td><td style="width: 9%; text-align: right;">(1,098,666</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D25">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F25"> </td><td style="width: 9%; text-align: right;">(370,123</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F25">) </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Comprehensive income (loss) attributable to UTG, Inc.</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B26"> </td><td style="width: 9%; text-align: right;">13,503,230</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B26"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D26"> </td><td style="width: 9%; text-align: right;">(920,710</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D26">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F26"> </td><td style="width: 9%; text-align: right;">12,582,520</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F26"> </td></tr><tr><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B27"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B27"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D27"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D27"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F27"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F27"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B28"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B28"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D28"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D28"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F28"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F28"> </td></tr><tr><td>Consolidated Statements of Cash Flows</td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B29"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - B29"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D29"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - D29"> </td><td> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F29"> </td><td style="width: 9%;"> </td><td style="width: 1%;" title="Note 11 - Rev of Financial Statement - F29"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Net income</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B30">$</td><td style="width: 9%; text-align: right;">12,798,260</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B30"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D30">$</td><td style="width: 9%; text-align: right;">177,956</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D30"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F30">$</td><td style="width: 9%; text-align: right;">12,976,216</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F30"> </td></tr><tr><td>Provision for deferred income tax expense</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B31"> </td><td style="width: 9%; text-align: right;">3,703,042</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B31"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D31"> </td><td style="width: 9%; text-align: right;">47,305</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D31"> </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F31"> </td><td style="width: 9%; text-align: right;">3,750,347</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F31"> </td></tr><tr style="background-color: rgb(204, 238, 255);"><td>Change in policy liabilities and accruals</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B32"> </td><td style="width: 9%; text-align: right;">(1,298,156</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - B32">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D32"> </td><td style="width: 9%; text-align: right;">(225,261</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - D32">) </td><td> </td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F32"> </td><td style="width: 9%; text-align: right;">(1,523,417</td><td style="width: 1%; text-align: left;" title="Note 11 - Rev of Financial Statement - F32">) </td></tr></table>
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--12-31