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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenue:        
Premiums and policy fees $ 2,025,092 $ 2,274,672 $ 6,333,796 $ 6,870,216
Ceded reinsurance premiums and policy fees (676,460) (725,156) (2,044,259) (2,013,691)
Net investment income 6,266,722 2,134,293 15,166,276 6,176,319
Other income 88,035 92,998 243,071 282,203
Revenue before net investment gains (losses) 7,703,389 3,776,807 19,698,884 11,315,047
Net investment gains (losses):        
Other-than-temporary impairments 0 18,129 0 (393,455)
Other realized investment gains, net 1,900,458 127,775 6,759,716 4,560,282
Change in fair value of equity securities 7,097,738 (9,380,710) 14,462,029 10,994,305
Total net investment gains (losses) 8,998,196 (9,234,806) 21,221,745 15,161,132
Total revenue 16,701,585 (5,457,999) 40,920,629 26,476,179
Benefits, claims and settlement expenses:        
Life 3,343,438 4,974,295 11,613,356 12,994,904
Ceded reinsurance benefits and claims (486,899) (904,913) (1,228,489) (1,891,579)
Annuity 252,079 246,362 771,309 739,455
Dividends to policyholders 63,632 68,243 236,724 242,527
Commissions and amortization of deferred policy acquisition costs (34,352) (37,464) (86,311) (94,372)
Amortization of cost of insurance acquired 172,087 178,383 516,261 536,228
Operating expenses 2,733,470 1,777,102 7,551,131 5,614,635
Interest expense 36,748 0 72,028 0
Total benefits and other expenses 6,080,203 6,302,008 19,446,009 18,141,798
Income (loss) before income taxes 10,621,382 (11,760,007) 21,474,620 8,334,381
Income tax expense (benefit) 2,542,701 (2,762,312) 4,915,001 1,308,355
Net income (loss) 8,078,681 (8,997,695) 16,559,619 7,026,026
Net income attributable to noncontrolling interests (26,825) (14,577) (80,646) (70,832)
Net income (loss) attributable to common shareholders $ 8,051,856 $ (9,012,272) $ 16,478,973 $ 6,955,194
Amounts attributable to common shareholders        
Basic income (loss) per share (in dollars per share) $ 2.54 $ (2.84) $ 5.2 $ 2.19
Diluted income (loss) per share (in dollars per share) $ 2.54 $ (2.84) $ 5.2 $ 2.19
Basic weighted average shares outstanding (in shares) 3,165,842 3,169,328 3,169,704 3,173,755
Diluted weighted average shares outstanding (in shares) 3,165,842 3,169,328 3,169,704 3,173,755