| Investments in Available-for-Sale Fixed Maturity and Equity Securities |
The following table presents our fair value measurements for our investments in available-for-sale fixed maturity and equity securities at December 31, 2025:
| |
|
Fair Value Measurements Using
|
|
| |
|
Fair Value
|
|
|
Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
|
|
|
Significant Other
Observable
Inputs (Level 2)
|
|
|
Significant
Unobservable
Inputs (Level 3)
|
|
|
U.S. Treasury securities and obligations of U.S. government corporations and agencies
|
|
$
|
24,329,398 |
|
|
$
|
— |
|
|
$
|
24,329,398 |
|
|
$
|
— |
|
|
Obligations of states and political subdivisions
|
|
|
48,550,717 |
|
|
|
— |
|
|
|
48,550,717 |
|
|
|
— |
|
|
Corporate securities
|
|
|
130,924,461 |
|
|
|
— |
|
|
|
130,924,461 |
|
|
|
— |
|
|
Mortgage-backed securities
|
|
|
436,918,199 |
|
|
|
— |
|
|
|
436,918,199 |
|
|
|
— |
|
|
Equity securities
|
|
|
44,370,358 |
|
|
|
42,233,030 |
|
|
|
2,137,328 |
|
|
|
— |
|
|
Total investments in the fair value hierarchy
|
|
$
|
685,093,133 |
|
|
$
|
42,233,030 |
|
|
$
|
642,860,103 |
|
|
$
|
— |
|
The following table presents our fair value measurements for our investments in available-for-sale fixed maturity and equity securities at December 31, 2024:
| |
|
Fair Value Measurements Using
|
|
| |
|
Fair Value
|
|
|
Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
|
|
|
Significant Other
Observable
Inputs (Level 2)
|
|
|
Significant
Unobservable
Inputs (Level 3)
|
|
|
U.S. Treasury securities and obligations of U.S. government corporations and agencies
|
|
$
|
83,792,635 |
|
|
$
|
— |
|
|
$
|
83,792,635 |
|
|
$
|
— |
|
|
Obligations of states and political subdivisions
|
|
|
37,404,420 |
|
|
|
— |
|
|
|
37,404,420 |
|
|
|
— |
|
|
Corporate securities
|
|
|
202,931,696 |
|
|
|
— |
|
|
|
202,931,696 |
|
|
|
— |
|
|
Mortgage-backed securities
|
|
|
293,763,111 |
|
|
|
— |
|
|
|
293,763,111 |
|
|
|
— |
|
|
Equity securities
|
|
|
36,807,810 |
|
|
|
34,707,981 |
|
|
|
2,099,829 |
|
|
|
— |
|
|
Total investments in the fair value hierarchy
|
|
$
|
654,699,672 |
|
|
$
|
34,707,981 |
|
|
$
|
619,991,691 |
|
|
$
|
— |
|
|