v3.26.3
Fair Value Measurements
 9 Months Ended
Sep. 30, 2026
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 September 30, 2026 and December 31, 2025 indicating the level of the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:
September 30, 2026
 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 $1,426,075 $- $- $1,426,075 
Political subdivisions of States, Territories and Possessions - 20,376,298 - 20,376,298 
Corporate and other bonds industrial and miscellaneous - 155,551,432 - 155,551,432 
Residential mortgage and other asset backed securities - 138,626,707 - 138,626,707 
Short-term investments1,482,405 - - 1,482,405 
Total fixed maturities 2,908,480 314,554,437 - 317,462,917 
Equity securities 9,049,978 136,900 - 9,186,878 
Total investments, at fair value $11,958,458 $314,691,337 $- $326,649,795 
December 31, 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 $1,007,190 $- $- $1,007,190 
Political subdivisions of States, Territories and Possessions - 21,773,433 - 21,773,433 
Corporate and other bonds industrial and miscellaneous 129,866,682 - - 129,866,682 
Residential mortgage and other asset backed securities - 136,389,885 - 136,389,885 
Total fixed maturities 130,873,872 158,163,318 - 289,037,190 
Equity securities 10,056,595 - - 10,056,595 
Total investments, at fair value $140,930,467 $158,163,318 $- $299,093,785 
The following table sets forth the Company’s investment in a hedge fund measured at Net Asset Value (“NAV”) per share as of September 30, 2026 and December 31, 2025. 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 September 30, 2026December 31, 2025
Other Investments
Hedge fund $4,367,262 $4,552,378 
The hedge fund investment is generally redeemable with at least 45 days prior written notice. There were no unfunded commitments as of September 30, 2026 and December 31, 2025 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.