v3.25.2
Fair Value Measurements
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The following table presents information about the Company’s investments that are measured at fair value on a recurring basis at June 30, 2025 and December 31, 2024 indicating the level of the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:
June 30, 2025
 Level 1  Level 2  Level 3  Total
Fixed-maturity securities available-for-sale
U.S. Treasury securities and obligations of U.S. government corporations and agencies $5,969,050 $- $- $5,969,050 
    
Political subdivisions of States, Territories and Possessions - 21,417,548 - 21,417,548 
     
Corporate and other bonds industrial and miscellaneous 104,532,730 - - 104,532,730 
     
Residential mortgage and other asset backed securities - 85,760,022 - 85,760,022 
Total fixed maturities 110,501,780 107,177,570 - 217,679,350 
Equity securities 10,027,099 - - 10,027,099 
Total investments, at fair value $120,528,879 $107,177,570 $- $227,706,449 
 December 31, 2024
 Level 1  Level 2  Level 3  Total
    
Fixed-maturity securities available-for-sale    
U.S. Treasury securities and obligations of U.S. government corporations and agencies $- $- $- $— 
    
Political subdivisions of States, Territories and Possessions - 20,873,097 - 20,873,097 
    
Corporate and other bonds industrial and miscellaneous 106,792,378 - - 106,792,378 
     
Residential mortgage and other asset backed securities - 59,227,963 - 59,227,963 
Total fixed maturities 106,792,378 80,101,060 - 186,893,438 
Equity securities 10,296,505 - - 10,296,505 
Total investments, at fair value $117,088,883 $80,101,060 $- $197,189,943 
The following table sets forth the Company’s investment in a hedge fund measured at Net Asset Value (“NAV”) per share as of June 30, 2025 and December 31, 2024. The Company measures this investment at fair value on a recurring basis. Fair value using NAV per share is as follows as of the dates indicated:
Category June 30, 2025December 31, 2024
Other Investments
Hedge fund $5,083,438 $4,380,656 
The hedge fund investment is generally redeemable with at least 45 days prior written notice. The hedge fund investment is accounted for as a limited partnership by the Company. Income is earned based upon the Company’s allocated share of the partnership's changes in unrealized gains and losses to its partners, which are recorded in the condensed consolidated statements of income and comprehensive income within net (losses) gains on investments.