|     |   |                                                                                   |
|----------|--------|----------------------------------------------------------------------------------------|
| ☑ |   | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 |

|     |   |                                                                                    |
|----------|--------|-----------------------------------------------------------------------------------------|
| ☐ |   | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 |

| Delaware(State or other jurisdiction ofincorporation or organization) |   | 36-2476480(I.R.S. EmployerIdentification Number) |
|-----------------------------------------------------------------------|--------|--------------------------------------------------|

| Large accelerated filer |   | ☐             | Accelerated filer              |   | ☑ |
|-----------------------------------|--------|----------------------|-------------------------------------|--------|----------|
| Non-accelerated filer             |   | ☐   | Smaller reporting company |   | ☑ |
|                              |   |                 | Emerging growth company             |   | ☐ |

|                                                                                                                                                                                                                                                                                                                                                         |                 |   |                                                                                                                                                             |   | PAGE   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                         |                 |   |                                                                                                                                                             |   |   |   |   |
| PART I — FINANCIAL INFORMATION                                                                                                                                                                                                                                                                                                                        |                 |   | 2                                                                                                                                                                |   |
|                                                                                                                                                                                                                                                                                                                                                         | Item 1—  |   | FinancialStatements                                                                                                                                              |   |   | 2 |   |
|                                                                                                                                                                                                                                                                                                                                                         |                 |   | CondensedConsolidated Balance Sheets at September 30, 2018 (Unaudited) andDecember 31, 2017                                                                      |   |   | 2 |   |
|                                                                                                                                                                                                                                                                                                                                                         |                 |   | CondensedConsolidated Statements of Income and Comprehensive Income for thethree months and nine months ended September 30, 2018 (Unaudited)and 2017 (Unaudited) |   |   | 3 |   |
|                                                                                                                                                                                                                                                                                                                                                         |                 |   | CondensedConsolidated Statement of Stockholders’ Equity for the ninemonths ended September 30, 2018 (Unaudited)                                           |   |   | 4 |   |
|                                                                                                                                                                                                                                                                                                                                                         |                 |   | CondensedConsolidated Statements of Cash Flows for the nine months endedSeptember 30, 2018 (Unaudited) and 2017 (Unaudited)                                      |   |   | 5 |   |
|                                                                                                                                                                                                                                                                                                                                                         |                 |   | Notesto Condensed Consolidated Financial  Statements(Unaudited)                                                                                             |   |   | 6 |   |
|                                                                                                                                                                                                                                                                                                                                                         | Item 2—  |   | Management’sDiscussion and Analysis of Financial Condition and Results ofOperations                                                                       |   |   | 40 |   |
|                                                                                                                                                                                                                                                                                                                                                         | Item 3—  |   | Quantitativeand Qualitative Disclosures About Market Risk                                                                                                        |   |   | 76 |   |
|                                                                                                                                                                                                                                                                                                                                                         | Item 4—  |   | Controlsand Procedures                                                                                                                                           |   |   | 77 |   |
|                                                                                                                                                                                                                                                                                                                                                         |                 |   |                                                                                                                                                             |   |   |   |   |
| PART II — OTHER INFORMATION                                                                                                                                                                                                                                                                                                                           |                 |   | 78                                                                                                                                                               |   |
|                                                                                                                                                                                                                                                                                                                                                         | Item 1—  |   | LegalProceedings                                                                                                                                                 |   |   | 78 |   |
|                                                                                                                                                                                                                                                                                                                                                         | Item 1A— |   | RiskFactors                                                                                                                                                      |   |   | 78 |   |
|                                                                                                                                                                                                                                                                                                                                                         | Item 2—       |   | UnregisteredSales of Equity Securities and Use of Proceeds                                                                                                       |   |   | 78 |   |
|                                                                                                                                                                                                                                                                                                                                                         | Item 3—       |   | DefaultsUpon Senior Securities                                                                                                                                   |   |   | 78 |   |
|                                                                                                                                                                                                                                                                                                                                                         | Item 4—  |   | MineSafety Disclosures                                                                                                                                           |   |   | 78 |   |
|                                                                                                                                                                                                                                                                                                                                                         | Item 5—  |   | OtherInformation                                                                                                                                                 |   |   | 78 |   |
|                                                                                                                                                                                                                                                                                                                                                         | Item 6—  |   | Exhibits                                                                                                                                                         |   |   | 79 |   |
| Signatures                                                                                                                                                                                                                                                                                                                                                   |                 |   |                                                                                                                                                             |   |
|  EXHIBIT3(a) EXHIBIT3(b) EXHIBIT10(a) EXHIBIT10(b) EXHIBIT31(a)                                                                                                                                                                                                                                                                     |
|  EXHIBIT31(b)                                                                                                                                                                                                                                                                                                                                           |
|  EXHIBIT32                                                                                                                                                                                                                                                                                                                                              |
|  EXHIBIT 101.INSXBRL Instance Document EXHIBIT 101.SCHXBRL Taxonomy Extension Schema EXHIBIT 101.CALXBRL Taxonomy Extension Calculation Linkbase EXHIBIT 101.DEFXBRL Taxonomy Extension Definition Linkbase EXHIBIT 101.LABXBRL Taxonomy Extension Label Linkbase EXHIBIT 101.PREXBRL Taxonomy Extension Presentation Linkbase |

| KINGSTONE COMPANIES, INC. AND SUBSIDIARIES                                                     |
|------------------------------------------------------------------------------------------------|
| Condensed Consolidated Balance Sheets                                                          |     |     |
|                                                                                           |   September 30,  |   December 31,  |
|                                                                                           |  2018  |  2017  |
|                                                                                           |   (unaudited)  |     |
|  Assets                                                                                   |     |     |
|   Fixed-maturitysecurities, held-to-maturity, at amortized cost (fair valueof        |     |     |
|   $4,410,764at September 30, 2018 and $5,150,076 at December 31,2017)                |  $4,222,352  |  $4,869,808  |
|   Fixed-maturitysecurities, available-for-sale, at fair value (amortized costof      |      |      |
|   $144,572,834at September 30, 2018 and $119,122,106 at December 31,2017)            |   141,360,535  |   119,988,256  |
|   Equitysecurities, at fair value (cost of $18,494,309 at September 30,2018 and      |      |      |
|   $13,761,841at December 31, 2017)                                                   |   18,876,690  |   14,286,198  |
|  Otherinvestments                                                                         |   2,241,444  |   -  |
|  Totalinvestments                                                                         |   166,701,021  |   139,144,262  |
|  Cashand cash equivalents                                                                 |   29,893,676  |   48,381,633  |
|  Investmentsubscription receivable                                                        |   -  |   2,000,000  |
|  Premiumsreceivable, net                                                                  |   13,484,547  |   13,217,698  |
|  Reinsurancereceivables, net                                                              |   25,018,461  |   28,519,130  |
|  Deferredpolicy acquisition costs                                                         |   17,123,248  |   14,847,236  |
|  Intangibleassets, net                                                                    |   755,000  |   1,010,000  |
|  Propertyand equipment, net                                                               |   5,798,042  |   4,772,577  |
|  Deferredincome taxes                                                                     |   122,003  |   -  |
|  Otherassets                                                                              |   4,476,703  |   2,655,527  |
|  Total assets                                                                             |  $263,372,701  |  $254,548,063  |
|                                                                                           |      |      |
|  Liabilities                                                                              |      |      |
|  Lossand loss adjustment expense reserves                                                 |  $53,942,957  |  $48,799,622  |
|  Unearnedpremiums                                                                         |   75,574,404  |   65,647,663  |
|  Advancepremiums                                                                          |   2,888,720  |   1,477,693  |
|  Reinsurancebalances payable                                                              |   1,723,844  |   2,563,966  |
|  Deferredceding commission revenue                                                        |   2,517,468  |   4,266,412  |
|  Accountspayable, accrued expenses and other liabilities                                  |   6,108,345  |   7,487,654  |
|  Deferredincome taxes                                                                     |   -  |   600,342  |
|  Long-termdebt, net                                                                       |   29,251,206  |   29,126,965  |
|  Totalliabilities                                                                         |   172,006,944  |   159,970,317  |
|                                                                                           |      |      |
|  Commitments and Contingencies                                                            |      |      |
|                                                                                           |      |      |
|  Stockholders' Equity                                                                     |      |      |
|  Preferredstock, $.01 par value; authorized 2,500,000 shares                              |   -  |   -  |
|   Commonstock, $.01 par value; authorized 20,000,000 shares; issued11,729,166 shares |      |      |
|   atSeptember 30, 2018 and 11,618,646 at December 31, 2017;outstanding               |      |      |
|   10,701,727shares at September 30, 2018 and 10,631,837 shares at December 31,2017   |   117,291  |   116,186  |
|   Capitalin excess of par                                                            |   68,220,714  |   68,380,390  |
|   Accumulatedother comprehensive (loss) income                                       |   (2,595,040) |   1,100,647  |
|   Retainedearnings                                                                   |   28,335,344  |   27,152,822  |
|                                                                                           |   94,078,309  |   96,750,045  |
|   Treasurystock, at cost, 1,027,439 shares at September 30, 2018                     |      |      |
|   and986,809 shares at December 31, 2017                                             |   (2,712,552) |   (2,172,299) |
|  Total stockholders' equity                                                               |   91,365,757  |   94,577,746  |
|                                                                                           |      |      |
|  Total liabilities and stockholders' equity                                               |  $263,372,701  |  $254,548,063  |

| KINGSTONE COMPANIES, INC. AND SUBSIDIARIES                                                              |
|---------------------------------------------------------------------------------------------------------|
|                                                                                                    |     |     |     |     |
| Condensed Consolidated Statements of Income and ComprehensiveIncome (Unaudited)     |
|                                                                                                    |  For the Three Months Ended  |  For the Nine Months Ended  |
|                                                                                                    |   September 30,      |   September 30,      |
|                                                                                                    |  2018  |  2017  |  2018  |  2017  |
|                                                                                                    |     |     |     |     |
|  Revenues                                                                                          |     |     |     |     |
|  Netpremiums earned                                                                                |  $27,533,907  |  $21,514,408  |  $74,476,138  |  $54,837,883  |
|  Cedingcommission revenue                                                                          |   1,044,529  |   1,717,610  |   4,430,855  |   8,208,000  |
|  Netinvestment income                                                                              |   1,602,371  |   1,033,307  |   4,543,226  |   2,917,111  |
|  Netgains (losses) on investments                                                                  |   352,025  |   20,998  |   (277,835) |   96,915  |
|  Otherincome                                                                                       |   353,077  |   328,330  |   961,581  |   926,189  |
|  Totalrevenues                                                                                     |   30,885,909  |   24,614,653  |   84,133,965  |   66,986,098  |
|                                                                                                    |      |      |      |      |
|  Expenses                                                                                          |      |      |      |      |
|  Lossand loss adjustment expenses                                                                  |   13,296,708  |   7,073,323  |   41,739,123  |   22,821,241  |
|  Commissionexpense                                                                                 |   6,594,323  |   5,500,483  |   18,411,460  |   15,491,027  |
|  Otherunderwriting expenses                                                                        |   5,193,679  |   4,475,455  |   15,301,168  |   12,887,488  |
|  Otheroperating expenses                                                                           |   683,309  |   1,069,005  |   1,773,983  |   2,731,499  |
|  Depreciationand amortization                                                                      |   440,383  |   378,518  |   1,273,975  |   1,023,390  |
|  Interestexpense                                                                                   |   456,545  |   -  |   1,365,052  |   -  |
|  Totalexpenses                                                                                     |   26,664,947  |   18,496,784  |   79,864,761  |   54,954,645  |
|                                                                                                    |      |      |      |      |
|  Incomefrom operations before taxes                                                                |   4,220,962  |   6,117,869  |   4,269,204  |   12,031,453  |
|  Incometax expense                                                                                 |   287,232  |   2,043,948  |   296,111  |   3,976,560  |
|  Net income                                                                                        |   3,933,730  |   4,073,921  |   3,973,093  |   8,054,893  |
|                                                                                                    |      |      |      |      |
|  Other comprehensive (loss) income, net of tax                                                     |      |      |      |      |
|  Grosschange in unrealized (losses) gains                                                          |      |      |      |      |
|  onavailable-for-sale-securities                                                                   |   (242,453) |   499,077  |   (4,591,699) |   1,974,946  |
|                                                                                                    |      |      |      |      |
|  Reclassificationadjustment for losses (gains)                                                     |      |      |      |      |
|  includedin net income                                                                             |   131,978  |   (20,998) |   451,877  |   (96,915) |
|  Netchange in unrealized (losses) gains                                                            |   (110,475) |   478,079  |   (4,139,822) |   1,878,031  |
|  Incometax benefit (expense) related to items                                                      |      |      |      |      |
|  ofother comprehensive (loss) income                                                               |   12,416  |   (162,547) |   858,377  |   (638,531) |
|  Other comprehensive (loss) income, net of tax                                                     |   (98,059) |   315,532  |   (3,281,445) |   1,239,500  |
|                                                                                                    |      |      |      |      |
|  Comprehensive income                                                                              |  $3,835,671  |  $4,389,453  |  $691,648  |  $9,294,393  |
|                                                                                                    |      |      |      |      |
| Earnings per common share:                                                                              |      |      |      |      |
| Basic                                                                                                   |  $0.37  |  $0.38  |  $0.37  |  $0.78  |
| Diluted                                                                                                 |  $0.36  |  $0.38  |  $0.37  |  $0.77  |
|                                                                                                    |      |      |      |      |
| Weighted average common shares outstanding                                                              |      |      |      |      |
| Basic                                                                                                   |   10,681,329  |   10,626,242  |   10,672,084  |   10,307,689  |
| Diluted                                                                                                 |   10,791,123  |   10,832,739  |   10,780,590  |   10,500,272  |
|                                                                                                    |      |      |      |      |
| Dividends declared and paid per common share                                                            |  $0.1000  |  $0.0800  |  $0.3000  |  $0.2225  |

| KINGSTONE COMPANIES, INC. AND SUBSIDIARIES                                                                                                                                                                                        |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                              |     |     |     |     |     |     |     |     |     |     |
| Condensed Consolidated Statement of Stockholders' Equity(Unaudited)                                                                                                                            |
| Nine months ended September 30, 2018                                        |
|                                                                                                                                                                                                                              |     |     |     |     |     |     |     |     |     |     |
|                                                                                                                                                                                                                              |     |     |     |     |     |     |     |     |     |     |
|                                                                                                                                                                                                                              |     |     |     |     |     |   Accumulated  |     |     |     |     |
|                                                                                                                                                                                                                              |     |     |     |     |   Capital  |   Other  |     |     |     |     |
|                                                                                                                                                                                                                              |   Preferred Stock  |   Common Stock  |   in Excess  |   Comprehensive  |   Retained  |   Treasury Stock  |     |
|                                                                                                                                                                                                                              |   Shares  |   Amount  |   Shares  |   Amount  |   of Par  |   Income (Loss)  |   Earnings  |   Shares  |   Amount  |   Total  |
| Balance,January 1, 2018, as reported                                                                                                                                                                                              |   -  |  $-  |   11,618,646  |  $116,186  |  $68,380,390  |  $1,100,647  |  $27,152,822  |   986,809  |  $(2,172,299) |  $94,577,746  |
| Cumulativeeffect of adoption of updated                                                                                                                                                                                           |      |      |      |      |      |      |      |      |      |      |
| accountingguidance for equity                                                                                                                                                                                                     |      |      |      |      |      |      |      |      |      |      |
| financialinstruments at January 1, 2018                                                                                                                                                                                           |   -  |   -  |   -  |   -  |   -  |   (414,242) |   414,242  |   -  |   -  |   -  |
| Balance,January 1, 2018, as adjusted                                                                                                                                                                                              |   -  |   -  |   11,618,646  |   116,186  |   68,380,390  |   686,405  |   27,567,064  |   986,809  |   (2,172,299) |   94,577,746  |
| Stock-basedcompensation                                                                                                                                                                                                           |   -  |   -  |   -  |   -  |   481,812  |   -  |   -  |   -  |   -  |   481,812  |
| Sharesdeducted from exercise of stock                                                                                                                                                                                             |      |      |      |      |      |      |      |      |      |      |
| options forpayment of withholding taxes                                                                                                                                                                                           |   -  |   -  |   (33,891) |   (337) |   (674,314) |   -  |   -  |   -  |   -  |   (674,651) |
| Vesting ofrestricted stock awards                                                                                                                                                                                                 |   -  |   -  |   15,752  |   155  |   (155) |   -  |   -  |   -  |   -  |   -  |
| Sharesdeducted from restricted stock                                                                                                                                                                                              |      |      |      |      |      |      |      |      |      |      |
| awards forpayment of withholding taxes                                                                                                                                                                                            |   -  |   -  |   (2,213) |   (24) |   (39,847) |   -  |   -  |   -  |   -  |   (39,871) |
| Exercise ofstock options                                                                                                                                                                                                          |   -  |   -  |   130,872  |   1,311  |   72,828  |   -  |   -  |   -  |   -  |   74,139  |
| Acquisition oftreasury stock                                                                                                                                                                                                      |   -  |   -  |   -  |   -  |   -  |   -  |   -  |   40,630  |   (540,253) |   (540,253) |
| Dividends                                                                                                                                                                                                                         |   -  |   -  |   -  |   -  |   -  |   -  |   (3,204,813) |   -  |   -  |   (3,204,813) |
| Netincome                                                                                                                                                                                                                         |   -  |   -  |   -  |   -  |   -  |   -  |   3,973,093  |   -  |   -  |   3,973,093  |
| Change inunrealized losses on available-                                                                                                                                                                                          |      |      |      |      |      |      |      |      |      |      |
| for-salesecurities, net of tax                                                                                                                                                                                                    |   -  |   -  |   -  |   -  |   -  |   (3,281,445) |   -  |   -  |   -  |   (3,281,445) |
| Balance,September 30, 2018                                                                                                                                                                                                        |   -  |  $-  |   11,729,166  |  $117,291  |  $68,220,714  |  $(2,595,040) |  $28,335,344  |   1,027,439  |  $(2,712,552) |  $91,365,757  |

| KINGSTONE COMPANIES, INC. AND SUBSIDIARIES                                                  |
|---------------------------------------------------------------------------------------------|
|                                                                                        |     |     |
| Condensed Consolidated Statements of Cash Flows (Unaudited)                       |
| Nine months ended September 30,                                                             |  2018  |  2017  |
|                                                                                        |     |     |
|  Cash flows from operatingactivities:                                                  |     |     |
|  Netincome                                                                             |  $3,973,093  |  $8,054,893  |
|  Adjustmentsto reconcile net income to net cash flows provided by operatingactivities: |      |      |
|  Netlosses (gains) on investments                                                      |   277,835  |   (96,915) |
|  Depreciationand amortization                                                          |   1,273,975  |   1,023,390  |
|  Amortizationof bond premium, net                                                      |   284,204  |   405,832  |
|  Amortizationof discount and issuance costs on long-term debt                          |   124,241  |   -  |
|  Stock-basedcompensation                                                               |   481,812  |   198,046  |
|  Deferredincome tax expense                                                            |   136,032  |   322,608  |
|  (Increase)decrease in operating assets:                                               |      |      |
|  Premiumsreceivable, net                                                               |   (266,849) |   (1,745,402) |
|  Reinsurancereceivables, net                                                           |   3,500,669  |   7,226,493  |
|  Deferredpolicy acquisition costs                                                      |   (2,276,012) |   (2,142,195) |
|  Otherassets                                                                           |   (1,824,401) |   (219,189) |
|  Increase(decrease) in operating liabilities:                                          |      |      |
|  Lossand loss adjustment expense reserves                                              |   5,143,335  |   554,078  |
|  Unearnedpremiums                                                                      |   9,926,741  |   8,448,528  |
|  Advancepremiums                                                                       |   1,411,027  |   665,029  |
|  Reinsurancebalances payable                                                           |   (840,122) |   (333,669) |
|  Deferredceding commission revenue                                                     |   (1,748,944) |   (2,898,092) |
|  Accountspayable, accrued expenses and other liabilities                               |   (1,379,309) |   1,426,188  |
|  Net cash flows provided by operating activities                                       |   18,197,327  |   20,889,623  |
|                                                                                        |      |      |
|  Cash flows from investingactivities:                                                  |      |      |
|  Purchase- fixed-maturity securities available-for-sale                                |   (43,957,529) |   (38,612,403) |
|  Purchase- equity securities                                                           |   (10,357,210) |   (5,298,781) |
|  Saleand redemption - fixed-maturity securitiesheld-to-maturity                        |   624,963  |   200,000  |
|  Saleor maturity - fixed-maturity securitiesavailable-for-sale                         |   17,740,260  |   8,385,874  |
|  Sale- equity securities                                                               |   5,694,121  |   2,571,122  |
|  Acquisitionof property and equipment                                                  |   (2,044,440) |   (1,944,342) |
|  Net cash flows used ininvesting activities                                            |   (32,299,835) |   (34,698,530) |
|                                                                                        |      |      |
|  Cash flows from financingactivities:                                                  |      |      |
|  Netproceeds from issuance of common stock                                             |   -  |   30,136,699  |
|  Proceedsfrom exercise of stock options                                                |   74,139  |   66,517  |
|  Withholdingtaxes paid on net exercise of stock options                                |   (674,651) |   -  |
|  Withholdingtaxes paid on vested retricted stock awards                                |   (39,871) |   (17,693) |
|  Purchaseof treasury stock                                                             |   (540,253) |   (176,837) |
|  Dividendspaid                                                                         |   (3,204,813) |   (2,363,993) |
|  Net cash flows (used in)provided by financing activities                              |   (4,385,449) |   27,644,693  |
|                                                                                        |      |      |
|  (Decrease)increase in cash and cash equivalents                                       |  $(18,487,957) |  $13,835,786  |
|  Cashand cash equivalents, beginning of period                                         |   48,381,633  |   12,044,520  |
|  Cash and cash equivalents, end of period                                              |  $29,893,676  |  $25,880,306  |
|                                                                                        |      |      |
|  Supplemental disclosures of cash flowinformation:                                     |      |      |
|  Cashpaid for income taxes                                                             |  $1,250,000  |  $3,936,000  |
|  Cashpaid for interest                                                                 |  $875,417  |  $-  |

|                                   |  September 30, 2018  |
|----------------------------------------|--------------------------------|
|                                   |                 |     |     |     |     |   Net  |
|                              |   Cost or       |   Gross  |   Gross Unrealized Losses  |     |   Unrealized  |
|                                   |   Amortized     |   Unrealized  |   Less than 12  |   More than 12  |   Fair  |   Gains/  |
|  Category                         |   Cost          |   Gains  |   Months  |   Months  |   Value  |   (Losses)  |
|                                   |                 |     |     |     |     |     |
|  Fixed-Maturity Securities:       |                 |     |     |     |     |     |
|  U.S.Treasury securities and      |                 |     |     |     |     |     |
|  obligationsof U.S. government    |                 |     |     |     |     |     |
|  corporationsand agencies         |  $8,214,959          |  $-  |  $(75,222) |  $-  |  $8,139,737  |  $(75,222) |
|                                   |            |      |      |      |      |      |
|  Politicalsubdivisions of States, |            |      |      |      |      |      |
|  Territoriesand Possessions       |   6,545,242     |   26,468  |   (63,596) |   (50,343) |   6,457,771  |   (87,471) |
|                                   |            |      |      |      |      |      |
|  Corporateand other bonds         |            |      |      |      |      |      |
|  Industrialand miscellaneous      |   106,538,272   |   87,788  |   (2,461,966) |   (399,360) |   103,764,734  |   (2,773,538) |
|                                   |            |      |      |      |      |      |
|  Residentialmortgage and other    |            |      |      |      |      |      |
|  assetbacked securities (1)       |   23,274,361    |   288,079  |   (99,954) |   (464,193) |   22,998,293  |   (276,068) |
|  Total                            |  $144,572,834        |  $402,335  |  $(2,700,738) |  $(913,896) |  $141,360,535  |  $(3,212,299) |

|                                   |  December 31, 2017            |
|----------------------------------------|-------------------------------------------------------------------------------------------|
|                                   |                                                                            |     |     |     |     |   Net  |
|                              |   Cost or                                                                  |   Gross  |   Gross Unrealized Losses  |     |   Unrealized  |
|                                   |   Amortized                                                                |   Unrealized  |   Less than 12  |   More than 12  |   Fair  |   Gains/  |
|  Category                         |   Cost                                                                     |   Gains  |   Months  |   Months  |   Value  |   (Losses)  |
|                                   |                                                                            |     |     |     |     |     |
|  Fixed-Maturity Securities:       |                                                                            |     |     |     |     |     |
|  U.S.Treasury securities and      |                                                                            |     |     |     |     |     |
|  obligationsof U.S. government    |                                                                            |     |     |     |     |     |
|  corporationsand agencies         |  $-                                                                             |  $-  |  $-  |  $-  |  $-  |  $-  |
|                                   |                                                                       |      |      |      |      |      |
|  Politicalsubdivisions of States, |                                                                       |      |      |      |      |      |
|  Territoriesand Possessions       |   11,096,122                                                               |   250,135  |   (30,814) |   -  |   11,315,443  |   219,321  |
|                                   |                                                                       |      |      |      |      |      |
|  Corporateand other bonds         |                                                                       |      |      |      |      |      |
|  Industrialand miscellaneous      |   87,562,631                                                               |   1,189,207  |   (269,857) |   (340,516) |   88,141,465  |   578,834  |
|                                   |                                                                       |      |      |      |      |      |
|  Residentialmortgage and other    |                                                                       |      |      |      |      |      |
|  assetbacked securities (1)       |   20,463,353                                                               |   305,499  |   (48,482) |   (189,022) |   20,531,348  |   67,995  |
|  Total                            |  $119,122,106                                                                   |  $1,744,841  |  $(349,153) |  $(529,538) |  $119,988,256  |  $866,150  |

|                                                        |  September 30, 2018  |  December 31, 2017  |
|-------------------------------------------------------------|--------------------------------|-------------------------------|
|                                                        |  Amortized           |                |  Amortized  |     |
|  Remaining Time toMaturity                             |  Cost                |  Fair Value         |  Cost  |  Fair Value  |
|                                                        |                 |                |     |     |
|  Lessthan one year                                     |  $1,689,356          |  $1,683,350         |  $2,585,479  |  $2,595,938  |
|  Oneto five years                                      |   39,607,252    |   39,173,793   |   31,716,345  |   32,065,197  |
|  Fiveto ten years                                      |   77,027,918    |   74,706,819   |   62,702,945  |   63,129,543  |
|  Morethan 10 years                                |   2,973,947     |   2,798,280    |   1,653,984  |   1,666,230  |
|  Residentialmortgage and other asset backed securities |   23,274,361    |   22,998,293   |   20,463,353  |   20,531,348  |
|  Total                                                 |  $144,572,834        |  $141,360,535       |  $119,122,106  |  $119,988,256  |

|                            |  September 30, 2018  |
|---------------------------------|--------------------------------|
|                       |                 |   Gross  |   Gross  |   Fair  |
|  Category                  |   Cost          |   Gains  |   Losses  |   Value  |
|                            |                 |     |     |     |
|  Equity Securities:        |                 |     |     |     |
|  Preferredstocks           |  $6,865,381          |  $20,121  |  $(188,302) |  $6,697,200  |
|  Commonstocks and exchange |            |      |      |      |
|  tradedmutual funds        |   11,628,928    |   1,131,212  |   (580,650) |   12,179,490  |
|  Total                     |  $18,494,309         |  $1,151,333  |  $(768,952) |  $18,876,690  |

|                            |  December 31, 2017  |
|---------------------------------|-------------------------------|
|                       |                |   Gross  |   Gross  |   Fair  |
|  Category                  |   Cost         |   Gains  |   Losses  |   Value  |
|                            |                |     |     |     |
|  Equity Securities:        |                |     |     |     |
|  Preferredstocks           |  $7,081,099         |  $60,867  |  $(141,025) |  $7,000,941  |
|  Commonstocks and exchange |           |      |      |      |
|  tradedmutual funds        |   6,680,742    |   841,250  |   (236,735) |   7,285,257  |
|  Total                     |  $13,761,841        |  $902,117  |  $(377,760) |  $14,286,198  |

|                     |  September 30, 2018      |  December 31, 2017      |
|--------------------------|--------------------------------------------------------|-------------------------------------------------------|
|                     |                                         |   Gross                                |   Fair  |     |   Gross  |   Fair  |
|  Category           |   Cost                                  |   Gains                                |   Value  |   Cost  |   Gains  |   Value  |
|                     |                                         |                                        |     |     |     |     |
|  Other Investments: |                                         |                                        |     |     |     |     |
|  Hedgefund          |  $2,000,000                                  |  $241,444                                   |  $2,241,444  |  $-  |  $-  |  $-  |
|  Total              |  $2,000,000                                  |  $241,444                                   |  $2,241,444  |  $-  |  $-  |  $-  |

|                                   |  September 30, 2018  |
|----------------------------------------|--------------------------------|
|                                   |                 |     |     |     |     |     |
|                              |                 |     |   Gross Unrealized Losses  |     |     |
|                                   |  Cost or Amortized   |  Gross Unrealized  |   Lessthan 12  |   Morethan 12  |   Fair  |  NetUnrealized  |
|  Category                         |   Cost          |   Gains  |   Months  |   Months  |   Value  |   Gains/(Losses)  |
|                                   |                 |     |     |     |     |     |
|  Held-to-Maturity Securities:     |                 |     |     |     |     |     |
|  U.S.Treasury securities          |  $729,496            |  $147,543  |  $(7,649) |  $-  |  $869,390  |  $139,894  |
|                                   |            |      |      |      |      |      |
|  Politicalsubdivisions of States, |            |      |      |      |      |      |
|  Territoriesand Possessions       |   998,852       |   24,393  |   -  |   -  |   1,023,245  |   24,393  |
|                                   |            |      |      |      |      |      |
|  Corporateand other bonds         |            |      |      |      |      |      |
|  Industrialand miscellaneous      |   2,494,004     |   36,835  |   (5,100) |   (7,610) |   2,518,129  |   24,125  |
|                                   |            |      |      |      |      |      |
|  Total                            |  $4,222,352          |  $208,771  |  $(12,749) |  $(7,610) |  $4,410,764  |  $188,412  |

|                                   |  December 31, 2017         |
|----------------------------------------|--------------------------------------|
|                                   |                       |     |     |     |     |     |
|                              |                       |     |   Gross Unrealized Losses  |     |     |
|                                   |    Cost or Amortized  |  Gross Unrealized  |   Lessthan 12  |   Morethan 12  |   Fair  |  NetUnrealized  |
|  Category                         |   Cost                |   Gains  |   Months  |   Months  |   Value  |   Gains/(Losses)  |
|                                   |                       |     |     |     |     |     |
|  Held-to-Maturity Securities:     |                       |     |     |     |     |     |
|  U.S.Treasury securities          |  $729,466                  |  $147,573  |  $(1,729) |  $-  |  $875,310  |  $145,844  |
|                                   |                  |      |      |      |      |      |
|  Politicalsubdivisions of States, |                  |      |      |      |      |      |
|  Territoriesand Possessions       |   998,984             |   50,366  |   -  |   -  |   1,049,350  |   50,366  |
|                                   |                  |      |      |      |      |      |
|  Corporateand other bonds         |                  |      |      |      |      |      |
|  Industrialand miscellaneous      |   3,141,358           |   90,358  |   -  |   (6,300) |   3,225,416  |   84,058  |
|                                   |                  |      |      |      |      |      |
|  Total                            |  $4,869,808                |  $288,297  |  $(1,729) |  $(6,300) |  $5,150,076  |  $280,268  |

|                            |  September 30, 2018  |  December 31, 2017  |
|---------------------------------|--------------------------------|-------------------------------|
|                            |  Amortized           |                |  Amortized  |     |
|  Remaining Time toMaturity |  Cost                |  Fair Value         |  Cost  |  Fair Value  |
|                            |                 |                |     |     |
|  Lessthan one year         |  $-                  |  $-                 |  $-  |  $-  |
|  Oneto five years          |   2,996,308     |   3,030,709    |   2,546,459  |   2,601,898  |
|  Fiveto ten years          |   619,548       |   626,016      |   1,716,884  |   1,794,139  |
|  Morethan 10 years    |   606,496       |   754,039      |   606,465  |   754,039  |
|  Total                     |  $4,222,352          |  $4,410,764         |  $4,869,808  |  $5,150,076  |

|                           |   Three months ended  |   Nine months ended  |
|--------------------------------|--------------------------------------|-------------------------------------|
|                           |   September 30,       |   September 30,      |
|                           |   2018                |   2017               |   2018  |   2017  |
|                           |                       |                      |     |     |
|  Income:                  |                       |                      |     |     |
|  Fixed-maturitysecurities |  $1,386,931                |  $926,170                 |  $3,898,730  |  $2,607,166  |
|  Equitysecurities         |   214,498             |   143,826            |   609,086  |   408,812  |
|  Cashand cash equivalents |   44,024              |   5,772              |   159,865  |   14,446  |
|  Total                    |   1,645,453           |   1,075,768          |   4,667,681  |   3,030,424  |
|  Expenses:                |                  |                 |      |      |
|  Investmentexpenses       |   43,082              |   42,461             |   124,455  |   113,313  |
|  Netinvestment income     |  $1,602,371                |  $1,033,307               |  $4,543,226  |  $2,917,111  |

|                                          |   Three months ended  |   Nine months ended  |
|-----------------------------------------------|--------------------------------------|-------------------------------------|
|                                          |   September 30,       |   September 30,      |
|                                          |   2018                |   2017               |   2018  |   2017  |
|  Realized (Losses) Gains                 |                       |                      |     |     |
|                                          |                       |                      |     |     |
|  Fixed-maturity securities:              |                       |                      |     |     |
|  Grossrealized gains                     |  $4,750                    |  $5,542                   |  $116,961  |  $67,260  |
|  Grossrealized losses (1)                |   (77,192)                 |   (56,783)                |   (560,418) |   (167,340) |
|                                          |   (72,442)                 |   (51,241)                |   (443,457) |   (100,080) |
|                                          |                  |                 |      |      |
|  Equity securities:                      |                  |                 |      |      |
|  Grossrealized gains                     |   121,609             |   229,792            |   436,859  |   386,057  |
|  Grossrealized losses                    |   (106,321)                |   (107,553)               |   (370,705) |   (139,062) |
|                                          |   15,288              |   122,239            |   66,154  |   246,995  |
|                                          |                  |                 |      |      |
|  Netrealized (losses) gains              |   (57,154)                 |   70,998             |   (377,303) |   146,915  |
|                                          |                  |                 |      |      |
|  Other-than-temporary impairment losses: |                  |                 |      |      |
|  Fixed-maturitysecurities                |   -                   |   (50,000)                |   -  |   (50,000) |
|                                          |                  |                 |      |      |
|  Unrealized Gains (Losses)               |                  |                 |      |      |
|                                          |                  |                 |      |      |
|  Equity securities:                      |                  |                 |      |      |
|  Grossgains                              |   288,435             |   -                  |   -  |   -  |
|  Grosslosses                             |   -                   |   -                  |   (141,976) |   -  |
|                                          |   288,435             |   -                  |   (141,976) |   -  |
|                                          |                  |                 |      |      |
|  Other investments:                      |                  |                 |      |      |
|  Grossgains                              |   120,744             |   -                  |   241,444  |   -  |
|  Grosslosses                             |   -                   |   -                  |   -  |   -  |
|                                          |   120,744             |   -                  |   241,444  |   -  |
|                                          |                  |                 |      |      |
|  Netunrealized gains                     |   409,179             |   -                  |   99,468  |   -  |
|                                          |                  |                 |      |      |
|  Netgains (losses) on investments        |  $352,025                  |  $20,998                  |  $(277,835) |  $96,915  |

|                                |  September 30, 2018   |
|-------------------------------------|---------------------------------|
|                                |  Less than 12 months  |     |  12 months or more  |     |  Total  |
|                           |                  |     |   No. of  |     |     |   No. of  |   Aggregate  |     |
|                                |   Fair           |   Unrealized  |   Positions  |   Fair  |   Unrealized  |   Positions  |   Fair  |   Unrealized  |
|  Category                      |   Value          |   Losses  |   Held  |   Value  |   Losses  |   Held  |   Value  |   Losses  |
|                                |                  |     |     |     |     |     |     |     |
|  Fixed-Maturity Securities:    |                  |     |     |     |     |     |     |     |
|  U.S.Treasury securities       |                  |     |     |     |     |     |     |     |
|  andobligations of U.S.        |                  |     |     |     |     |     |     |     |
|  governmentcorporations        |                  |     |     |     |     |     |     |     |
|  andagencies                   |  $8,139,737           |  $(75,222) |   7  |  $-  |  $-  |   -  |  $8,139,737  |  $(75,222) |
|                                |             |      |      |      |      |      |      |      |
|  Politicalsubdivisions of      |             |      |      |      |      |      |      |      |
|  States,Territories and        |             |      |      |      |      |      |      |      |
|  Possessions                   |   3,396,474      |   (63,596) |   7  |   1,122,656  |   (50,343) |   2  |   4,519,130  |   (113,939) |
|                                |             |      |      |      |      |      |      |      |
|  Corporateand other            |             |      |      |      |      |      |      |      |
|  bondsindustrial and           |             |      |      |      |      |      |      |      |
|  miscellaneous                 |   86,846,478     |   (2,461,966) |   108  |   6,950,836  |   (399,360) |   14  |   93,797,314  |   (2,861,326) |
|                                |             |      |      |      |      |      |      |      |
|  Residentialmortgage and other |             |      |      |      |      |      |      |      |
|  assetbacked securities        |   8,593,080      |   (99,954) |   10  |   11,453,668  |   (464,193) |   18  |   20,046,748  |   (564,147) |
|                                |             |      |      |      |      |      |      |      |
|  Totalfixed-maturity           |             |      |      |      |      |      |      |      |
|  securities                    |  $106,975,769         |  $(2,700,738) |   132  |  $19,527,160  |  $(913,896) |   34  |  $126,502,929  |  $(3,614,634) |

|                                |  December 31, 2017    |
|-------------------------------------|---------------------------------|
|                                |  Less than 12 months  |  12 months or more  |  Total  |
|                           |                  |     |   No. of  |     |     |   No. of  |   Aggregate  |     |
|                                |   Fair           |   Unrealized  |   Positions  |   Fair  |   Unrealized  |   Positions  |   Fair  |   Unrealized  |
|  Category                      |   Value          |   Losses  |   Held  |   Value  |   Losses  |   Held  |   Value  |   Losses  |
|                                |                  |     |     |     |     |     |     |     |
|  Fixed-Maturity Securities:    |                  |     |     |     |     |     |     |     |
|  Politicalsubdivisions of      |                  |     |     |     |     |     |     |     |
|  States,Territories and        |                  |     |     |     |     |     |     |     |
|  Possessions                   |  $1,549,839           |  $(30,814) |   4  |  $-  |  $-  |   -  |  $1,549,839  |  $(30,814) |
|                                |             |      |      |      |      |      |      |      |
|  Corporateand other            |             |      |      |      |      |      |      |      |
|  bondsindustrial and           |             |      |      |      |      |      |      |      |
|  miscellaneous                 |   15,036,462     |   (269,857) |   20  |   9,113,924  |   (340,516) |   17  |   24,150,386  |   (610,373) |
|                                |             |      |      |      |      |      |      |      |
|  Residentialmortgage and other |             |      |      |      |      |      |      |      |
|  assetbacked securities        |   6,956,371      |   (48,482) |   6  |   7,867,572  |   (189,022) |   15  |   14,823,943  |   (237,504) |
|                                |             |      |      |      |      |      |      |      |
|  Totalfixed-maturity           |             |      |      |      |      |      |      |      |
|  securities                    |  $23,542,672          |  $(349,153) |   30  |  $16,981,496  |  $(529,538) |   32  |  $40,524,168  |  $(878,691) |
|                                |             |      |      |      |      |      |      |      |
|  Equity Securities:            |             |      |      |      |      |      |      |      |
|  Preferredstocks               |  $1,605,217           |  $(20,313) |   5  |  $1,776,675  |  $(120,712) |   3  |  $3,381,892  |  $(141,025) |
|  Commonstocks and              |             |      |      |      |      |      |      |      |
|  exchangetraded mutual funds   |   1,446,375      |   (222,205) |   4  |   124,900  |   (14,530) |   1  |   1,571,275  |   (236,735) |
|                                |             |      |      |      |      |      |      |      |
|  Totalequity securities        |  $3,051,592           |  $(242,518) |   9  |  $1,901,575  |  $(135,242) |   4  |  $4,953,167  |  $(377,760) |
|                                |             |      |      |      |      |      |      |      |
|  Total                         |  $26,594,264          |  $(591,671) |   39  |  $18,883,071  |  $(664,780) |   36  |  $45,477,335  |  $(1,256,451) |

|                                                        |  September 30, 2018  |
|-------------------------------------------------------------|--------------------------------|
|                                                        |   Level 1       |   Level 2  |   Level 3  |   Total  |
|                                                        |                 |     |     |     |
|  Fixed-maturity securities available-for-sale          |                 |     |     |     |
|  U.S.Treasury securities                               |                 |     |     |     |
|  andobligations of U.S.                                |                 |     |     |     |
|  governmentcorporations                                |                 |     |     |     |
|  andagencies                                           |  $8,139,737          |  $-  |  $-  |  $8,139,737  |
|                                                        |            |      |      |      |
|  Politicalsubdivisions of                              |            |      |      |      |
|  States,Territories and                                |            |      |      |      |
|  Possessions                                           |   -             |   6,457,771  |   -  |   6,457,771  |
|                                                        |            |      |      |      |
|  Corporateand other                                    |            |      |      |      |
|  bondsindustrial and                                   |            |      |      |      |
|  miscellaneous                                         |   100,090,703   |   3,674,031  |   -  |   103,764,734  |
|                                                        |            |      |      |      |
|  Residentialmortgage and other asset backed securities |   -             |   22,998,293  |   -  |   22,998,293  |
|  Totalfixed maturities                                 |   108,230,440   |   33,130,095  |   -  |   141,360,535  |
|  Equity securities                                     |   18,876,690    |   -  |   -  |   18,876,690  |
|  Total investments                                     |  $127,107,130        |  $33,130,095  |  $-  |  $160,237,225  |

|                                                        |  December 31, 2017  |
|-------------------------------------------------------------|-------------------------------|
|                                                        |   Level 1      |   Level 2  |   Level 3  |   Total  |
|                                                        |                |     |     |     |
|  Fixed-maturity securities available-for-sale          |                |     |     |     |
|  Politicalsubdivisions of                              |                |     |     |     |
|  States,Territories and                                |                |     |     |     |
|  Possessions                                           |  $-                 |  $11,315,443  |  $-  |  $11,315,443  |
|                                                        |           |      |      |      |
|  Corporateand other                                    |           |      |      |      |
|  bondsindustrial and                                   |           |      |      |      |
|  miscellaneous                                         |   83,597,300   |   4,544,165  |   -  |   88,141,465  |
|                                                        |           |      |      |      |
|  Residentialmortgage and other asset backed securities |   -            |   20,531,348  |   -  |   20,531,348  |
|  Totalfixed maturities                                 |   83,597,300   |   36,390,956  |   -  |   119,988,256  |
|  Equity securities                                     |   14,286,198   |   -  |   -  |   14,286,198  |
|  Total investments                                     |  $97,883,498        |  $36,390,956  |  $-  |  $134,274,454  |

| Category                 |  September 30,2018  |  December 31,2017  |
|--------------------------|-------------------------------|------------------------------|
|                     |                |               |
|  Other Investments: |                |               |
|  Hedgefund          |  $2,241,444         |  $-                |
|  Total              |  $2,241,444         |  $-                |

|                                              |  September 30, 2018  |  December 31, 2017  |
|---------------------------------------------------|--------------------------------|-------------------------------|
|                                              |  Carrying Value      |  Fair Value         |  Carrying Value  |  Fair Value  |
|                                              |                 |                |     |     |
|  Fixed-maturitysecurities-held-to maturity   |  $4,222,352          |  $4,410,764         |  $4,869,808  |  $5,150,076  |
|  Cashand cash equivalents                    |  $29,893,676         |  $29,893,676        |  $48,381,633  |  $48,381,633  |
|  Investmentsubscription receivable           |  $-                  |  $-                 |  $2,000,000  |  $2,000,000  |
|  Premiumsreceivable, net                     |  $13,484,547         |  $13,484,547        |  $13,217,698  |  $13,217,698  |
|  Reinsurancereceivables, net                 |  $25,018,461         |  $25,018,461        |  $28,519,130  |  $28,519,130  |
|  Realestate, net of accumulated depreciation |  $2,199,140          |  $2,705,000         |  $2,261,829  |  $2,705,000  |
|  Reinsurancebalances payable                 |  $1,723,844          |  $1,723,844         |  $2,563,966  |  $2,563,966  |
|  Long-termdebt, net                          |  $29,251,206         |  $29,251,206        |  $29,126,965  |  $29,126,965  |

|                                  |   Direct  |   Assumed  |   Ceded   |   Net     |
|---------------------------------------|--------------------------|---------------------------|--------------------------|--------------------------|
|                                  |           |            |           |           |
| Nine months ended September 30, 2018  |           |            |           |           |
|  Premiumswritten                 |  $107,175,413  |  $842           |  $(19,409,423)      |  $87,766,832   |
|  Changein unearned premiums      |   (9,930,503)  |   3,762    |   (3,363,953)  |   (13,290,694) |
|  Premiumsearned                  |  $97,244,910   |  $4,604         |  $(22,773,376)      |  $74,476,138   |
|                                  |      |       |      |      |
| Nine months ended September 30, 2017  |      |       |      |      |
|  Premiumswritten                 |  $89,423,758   |  $18,203        |  $(20,719,037)      |  $68,722,924   |
|  Changein unearned premiums      |   (8,456,690)  |   8,162    |   (5,436,513)  |  $(13,885,041)      |
|  Premiumsearned                  |  $80,967,068   |  $26,365        |  $(26,155,550)      |  $54,837,883   |
|                                  |      |       |      |      |
| Three months ended September 30, 2018 |      |       |      |      |
|  Premiumswritten                 |  $38,785,453   |  $18            |  $(2,683,699)       |  $36,101,772   |
|  Changein unearned premiums      |   (4,435,174)  |   698      |   (4,133,389)  |   (8,567,865)  |
|  Premiumsearned                  |  $34,350,279   |  $716           |  $(6,817,088)       |  $27,533,907   |
|                                  |      |       |      |      |
| Three months ended September 30, 2017 |      |       |      |      |
|  Premiumswritten                 |  $32,839,891   |  $11,910        |  $(590,482)         |  $32,261,319   |
|  Changein unearned premiums      |   (4,407,894)  |   (165)         |   (6,338,852)  |   (10,746,911) |
|  Premiumsearned                  |  $28,431,997   |  $11,745        |  $(6,929,334)       |  $21,514,408   |

|                                  |   Nine months ended  |
|---------------------------------------|-------------------------------------|
|                                  |  September 30,            |
|                                  |  2018                     |  2017  |
|                                  |                      |     |
|  Balanceat beginning of period   |  $48,799,622              |  $41,736,719  |
|  Lessreinsurance recoverables    |   (16,748,908)            |   (15,776,880) |
|  Netbalance, beginning of period |   32,050,714         |   25,959,839  |
|                                  |                 |      |
|  Incurredrelated to:             |                 |      |
|  Currentyear                     |   41,611,658         |   23,071,466  |
|  Prioryears                      |   127,465            |   (250,225) |
|  Totalincurred                   |   41,739,123         |   22,821,241  |
|                                  |                 |      |
|  Paidrelated to:                 |                 |      |
|  Currentyear                     |   23,404,909         |   12,955,928  |
|  Prioryears                      |   12,160,419         |   8,176,715  |
|  Totalpaid                       |   35,565,328         |   21,132,643  |
|                             |                 |      |
|  Netbalance at end of period     |   38,224,509         |   27,648,437  |
|  Addreinsurance recoverables     |   15,718,448         |   14,642,360  |
|  Balanceat end of period         |  $53,942,957              |  $42,290,797  |

| All Lines of Business                       |
|---------------------------------------------|
| (in thousands, except reported claims data) |

|                                                                                 |                                                                    |                                |                                |                                |                                                 |                                |                                |                                |                                |                                                                                            |   | As of                                                                     |                                                                                                  |
|--------------------------------------------------------------------------------------|-------------------------------------------------------------------------|-------------------------------------|-------------------------------------|-------------------------------------|------------------------------------------------------|-------------------------------------|-------------------------------------|-------------------------------------|-------------------------------------|-------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------|
|                                                                                 | Incurred Loss and Allocated Loss Adjustment Expenses, Net ofReinsurance |                                | September 30, 2018                  |                                |
| Accident                                                                             | For the Years Ended December 31,                                        | NineMonthsEndedSeptember 30,        |                                | IBNR                                | Cumulative Number of Reported Claims by AccidentYear |                                |
| Year                                                                                 | 2009                                                                    | 2010                                | 2011                                | 2012                                | 2013                                                 | 2014                                | 2015                                | 2016                                | 2017                                | 2018                                                                                            |   |                                                                      |                                                                                                  |   |
|                                                                                 | (Unaudited 2009 - 2015)                                                 |                                |                                | (Unaudited)                         |                                                 |                                |                                |                                |
|                                                                                 |                                                                    |                                |                                |                                |                                                 |                                |                                |                                |                                |                                                                                            |   |                                                                      |                                                                                                  |   |
| 2009                                                                                 |  $4,403                                                            |  $4,254                        |  $4,287                        |  $4,384                        |  $4,511                                         |  $4,609                        |  $4,616                        |  $4,667                        |  $4,690                        |  $4,670                                                                                    |   |  $0                                                                  |                 1,136 |   |
| 2010                                                                                 |                                                                    |      5,598 |      5,707 |      6,429 |      6,623                  |      6,912 |      6,853 |      6,838 |      6,840 |                6,785 |   |           (1)           |                 1,616 |   |
| 2011                                                                                 |                                                                    |                                |      7,603 |      7,678 |      8,618                  |      9,440 |      9,198 |      9,066 |      9,144 |                9,147 |   |             2 |                 1,913 |   |
| 2012                                                                                 |                                                                    |                                |                                |      9,539 |      9,344                  |   10,278                  |   10,382                  |   10,582                  |   10,790                  |             10,770                  |   |          19                  |                 4,702 | (1) |
| 2013                                                                                 |                                                                    |                                |                                |                                |   10,728                                   |      9,745 |      9,424 |      9,621 |   10,061                  |             10,000                  |   |        132                             |                 1,560 |   |
| 2014                                                                                 |                                                                    |                                |                                |                                |                                                 |   14,193                  |   14,260                  |   14,218                  |   14,564                  |             14,954                  |   |        309                             |                 2,129 |   |
| 2015                                                                                 |                                                                    |                                |                                |                                |                                                 |                                |   22,340                  |   21,994                  |   22,148                  |             22,186                  |   |        642                             |                 2,546 |   |
| 2016                                                                                 |                                                                    |                                |                                |                                |                                                 |                                |                                |   26,062                  |   24,941                  |             24,256                  |   |    1,646                                                   |                 2,860 |   |
| 2017                                                                                 |                                                                    |                                |                                |                                |                                                 |                                |                                |                                |   31,605                  |             32,146                  |   |    3,376                                                   |                 3,322 |   |
| 2018                                                                                 |                                                                    |                                |                                |                                |                                                 |                                |                                |                                |                                |             39,653                  |   |    6,386                                                   |                 2,953 |   |
|                                                                                 |                                                                    |                                |                                |                                |                                                 |                                |                                |                                |  Total                         |  $174,567                                                                                  |   |                                                                      |                                                                                                  |   |
| (1)Reported claims for accident year 2012 includes 3,406 claims fromSuperstorm Sandy |

| All Lines of Business                                                                               |                                                                                                            |                                |                                |                                |                                |                                |                                |                                |                                |
|-----------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------|-------------------------------------|-------------------------------------|-------------------------------------|-------------------------------------|-------------------------------------|-------------------------------------|-------------------------------------|-------------------------------------|
| (in thousands)                                                                                      |                                                                                                            |                                |                                |                                |                                |                                |                                |                                |                                |   |   |
|                                                                                                | Cumulative Paid Loss and Allocated Loss Adjustment Expenses, Net ofReinsurance                                  |                                |                                |                                |
|  Accident                                                                                      | For the Years Ended December 31,                                                                                | NineMonthsEndedSeptember 30,        |                                |                                |
| Year                                                                                                | 2009                                                                                                            | 2010                                | 2011                                | 2012                                | 2013                                | 2014                                | 2015                                | 2016                                | 2017                                | 2018 |   |   |
|                                                                                                | (Unaudited 2009 - 2015)                                                                                         |                                |                                | (Unaudited)                         |                                |                                |
|                                                                                                |                                                                                                            |                                |                                |                                |                                |                                |                                |                                |                                |   |   |   |
| 2009                                                                                                |  $2,298                                                                                                    |  $3,068                        |  $3,607                        |  $3,920                        |  $4,134                        |  $4,362                        |  $4,424                        |  $4,468                        |  $4,487                        |  $4,659 |   |   |
| 2010                                                                                                |                                                                                                            |      2,566 |      3,947 |      4,972 |      5,602 |      6,323 |      6,576 |      6,720 |      6,772 |                6,778 |   |   |
| 2011                                                                                                |                                                                                                            |                                |      3,740 |      5,117 |      6,228 |      7,170 |      8,139 |      8,540 |      8,702 |                8,717 |   |   |
| 2012                                                                                                |                                                                                                            |                                |                                |      3,950 |      5,770 |      7,127 |      8,196 |      9,187 |   10,236                  |             10,302 |   |   |
| 2013                                                                                                |                                                                                                            |                                |                                |                                |      3,405 |      5,303 |      6,633 |      7,591 |      8,407 |                8,834 |   |   |
| 2014                                                                                                |                                                                                                            |                                |                                |                                |                                |      5,710 |      9,429 |   10,738                  |   11,770                  |             13,508 |   |   |
| 2015                                                                                                |                                                                                                            |                                |                                |                                |                                |                                |   12,295                  |   16,181                  |   18,266                  |             19,473 |   |   |
| 2016                                                                                                |                                                                                                            |                                |                                |                                |                                |                                |                                |   15,364                  |   19,001                  |             20,098 |   |   |
| 2017                                                                                                |                                                                                                            |                                |                                |                                |                                |                                |                                |                                |   16,704                  |             23,499 |   |   |
| 2018                                                                                                |                                                                                                            |                                |                                |                                |                                |                                |                                |                                |                                |             22,223 |   |   |
|                                                                                                |                                                                                                            |                                |                                |                                |                                |                                |                                |                                | Total                               |  $138,091 |   |   |
|                                                                                                |                                                                                                            |                                |                                |                                |                                |                                |                                |                                |                                |   |   |   |
| Net liabilityfor unpaid loss and allocated loss adjustment expenses for theaccident years presented |  $36,476                                                                                                   |                                |                                |
| Alloutstanding liabilities before 2009, net ofreinsurance                                           |                   199 |                                |                                |
| Liabilitiesfor loss and allocated loss adjustment expenses, net ofreinsurance                       |  $36,675                                                                                                   |                                |                                |

|  Reconciliation of the Disclosure of Incurred and Paid LossDevelopment  |
|-----------------------------------------------------------------------------------|
| to the Liability for Loss and LAE Reserves                                        |
|                                                                              |     |
|                                                                              |  As of  |
| (in thousands)                                                                    |  September 30, 2018  |
| Liabilitiesfor allocated loss and loss adjustment expenses, net ofreinsurance     |  $36,675  |
| Totalreinsurance recoverable on unpaid losses                                     |   15,718  |
| Unallocatedloss adjustment expenses                                               |   1,550  |
| Totalgross liability for loss and LAE reserves                                    |  $53,943  |

|                                                                                | Treaty Year               |
|-------------------------------------------------------------------------------------|---------------------------|
|                                                                                |  July 1, 2018   |  July 1, 2017  |  July 1, 2016  |
|                                                                                |  to             |  to  |  to  |
|  Line of Busines                                                               |  June 30, 2019  |  June 30, 2018  |  June 30, 2017  |
|                                                                                |            |     |     |
| Personal Lines:                                                                     |            |     |     |
| Homeowners,dwelling fire and canine legal liability                                 |            |     |     |
|  Quotashare treaty:                                                            |            |     |     |
|  Percentceded                                                                  |   10%           |   20% |   40% |
|  Riskretained                                                                  |  $900,000       |  $800,000  |  $500,000  |
|  Lossesper occurrence subject to quota share reinsurancecoverage               |  $1,000,000     |  $1,000,000  |  $833,333  |
|  Excessof loss coverage and facultative facility above quota sharecoverage (1) |  $9,000,000     |  $9,000,000  |  $3,666,667  |
|                                                                                |  in excess of        |  inexcess of |  inexcess of |
|                                                                                |  $1,000,000     |  $1,000,000  |  $833,333  |
|  Totalreinsurance coverage per occurrence                                      |  $9,100,000     |  $9,200,000  |  $4,000,000  |
|  Lossesper occurrence subject to reinsurance coverage                          |  $10,000,000    |  $10,000,000  |  $4,500,000  |
|  Expirationdate                                                                | June 30, 2019             |  June30, 2019  |  June30, 2017  |
|                                                                                |       |      |      |
|  PersonalUmbrella                                                              |       |      |      |
|  Quotashare treaty:                                                            |       |      |      |
|  Percentceded - first $1,000,000 of coverage                                   |   90%           |   90% |   90% |
|  Percentceded - excess of $1,000,000 dollars of coverage                       |   100%          |   100% |   100% |
|  Riskretained                                                                  |  $100,000       |  $100,000  |  $100,000  |
|  Totalreinsurance coverage per occurrence                                      |  $4,900,000     |  $4,900,000  |  $4,900,000  |
|  Lossesper occurrence subject to quota share reinsurancecoverage               |  $5,000,000     |  $5,000,000  |  $5,000,000  |
|  Expirationdate                                                                | June 30, 2019             |  June30, 2018  |  June30, 2017  |
|                                                                                |       |      |      |
| Commercial Lines:                                                                   |       |      |      |
|  Generalliability commercial policies                                          |       |      |      |
|  Quotashare treaty                                                             | None                      |  None  |  None  |
|  Riskretained                                                                  |  $750,000       |  $750,000  |  $500,000  |
|  Excessof loss coverage above risk retained                                    |  $3,750,000     |  $3,750,000  |  $4,000,000  |
|                                                                                |  in excess of        |  inexcess of |  inexcess of |
|                                                                                |  $750,000       |  $750,000  |  $500,000  |
|  Totalreinsurance coverage per occurrence                                      |  $3,750,000     |  $3,750,000  |  $4,000,000  |
|  Lossesper occurrence subject to reinsurance coverage                          |  $4,500,000     |  $4,500,000  |  $4,500,000  |
|                                                                                |       |      |      |
|  CommercialUmbrella                                                            |       |      |      |
|  Quotashare treaty:                                                            |       |      |      |
|  Percentceded - first $1,000,000 of coverage                                   |   90%           |   90% |   90% |
|  Percentceded - excess of $1,000,000 of coverage                               |   100%          |   100% |   100% |
|  Riskretained                                                                  |  $100,000       |  $100,000  |  $100,000  |
|  Totalreinsurance coverage per occurrence                                      |  $4,900,000     |  $4,900,000  |  $4,900,000  |
|  Lossesper occurrence subject to quota share reinsurancecoverage               |  $5,000,000     |  $5,000,000  |  $5,000,000  |
|  Expirationdate                                                                | June 30, 2019             |  June30, 2018  |  June30, 2017  |
|                                                                                |       |      |      |
| Catastrophe Reinsurance:                                                            |       |      |      |
| Initialloss subject to personal lines quota share treaty                            |  $5,000,000     |  $5,000,000  |  $5,000,000  |
|  Riskretained per catastrophe occurrence (2)                                   |  $4,500,000     |  $4,000,000  |  $3,000,000  |
|  Catastropheloss coverage in excess of quota share coverage (3)(4)             |  $445,000,000   |  $315,000,000  |  $247,000,000  |
|  Reinstatementpremium protection (5)                                           | Yes                       |  Yes |  Yes |

|                |                     | July 1, 2018 - June 30, 2019    |
|---------------------|--------------------------|---------------------------------|
| Treaty              |                     |  Extent of Loss            |   |  Risk Retained |
| Personal Lines (1)  |                     |  Initial $1,000,000        |   | $900,000 |
|                |                     |  $1,000,000 - $10,000,000  |   |  None(2) |
|                |                     |  Over $10,000,000          |   | 100% |
|                |                     |                            |   |   |
| Personal Umbrella   |                     |  Initial $1,000,000        |   | $100,000 |
|                |                     |  $1,000,000 - $5,000,000   |   |  None |
|                |                     |  Over $5,000,000           |   | 100% |
|                |                     |                            |   |   |
| Commercial Lines    |                     |  Initial $750,000          |   | $750,000 |
|                |                     |  $750,000 - $4,500,000     |   |  None(3) |
|                |                     |  Over $4,500,000           |   | 100% |
|                |                     |                            |   |   |
| Commercial Umbrella |  Initial $1,000,000 |                            | $100,000 |
|                |                     |  $1,000,000 - $5,000,000   |   |  None |
|                |                     |  Over $5,000,000           |   | 100% |
|                |                     |                            |   |   |
| Catastrophe (4)     |                     |  Initial $5,000,000        |   | $4,500,000 |
|                |                     |  $5,000,000 - $450,000,000 |   |  None |
|                |                     |  Over $450,000,000         |   | 100% |

|               |  July 1, 2017 - June 30, 2018  |                       |   July 1, 2016 - June 30, 2017  |
|--------------------|------------------------------------------|----------------------------|------------------------------------------------|
| Treaty             |   Range of Loss           |  RiskRetained    |                                           |   Range of Loss  |   Risk Retained  |
| Personal Lines(1)  |  Initial$1,000,000                  |   $800,000       |                                           |  Initial$833,333 |   $500,000  |
|               |  $1,000,000 - $10,000,000      |  None(2)              |                                           |  $833,333 - $4,500,000  |  None(3) |
|               |  Over$10,000,000                    |     100%         |                                           |  Over$4,500,000 |     100% |
|               |                      |        |                                           |        |        |
| PersonalUmbrella   |  Initial$1,000,000                  |   $100,000       |                                           |  Initial$1,000,000 |   $100,000  |
|               |  $1,000,000 - $5,000,000       |  None                 |                                           |  $1,000,000 - $5,000,000  |  None |
|               |  Over$5,000,000                     |     100%         |                                           |  Over$5,000,000 |     100% |
|               |                      |        |                                           |        |        |
| CommercialLines    |  Initial$750,000                    |   $750,000       |                                           |  Initial$500,000 |   $500,000  |
|               |  $750,000 - $4,500,000         |  None(3)              |                                           |  $500,000 - $4,500,000  | None(3) |
|               |  Over$4,500,000                     |     100%         |                                           |  Over$4,500,000 |     100% |
|               |                      |        |                                           |        |        |
| CommercialUmbrella |  Initial$1,000,000                  |   $100,000       |                                           |  Initial$1,000,000 |   $100,000  |
|               |  $1,000,000 - $5,000,000       |  None                 |                                           |  $1,000,000 - $5,000,000  |  None |
|               |  Over$5,000,000                     |     100%         |                                           |  Over$5,000,000 |     100% |
|               |                      |        |                                           |        |        |
| Catastrophe(4)     |  Initial$5,000,000                  |   $4,000,000     |                                           |  Initial$5,000,000 |   $3,000,000  |
|               |  $5,000,000 - $320,000,000     |  None                 |                                           |  $5,000,000 - $252,000,000  |  None |
|               |  Over$320,000,000                   |     100%         |                                           |  Over$252,000,000 |     100% |

|                                       |   Three months ended  |   Nine months ended  |
|--------------------------------------------|--------------------------------------|-------------------------------------|
|                                       |  September 30,             |  September 30,            |
|                                       |   2018                |   2017               |   2018  |   2017  |
|                                       |                       |                      |     |     |
|  Provisionalceding commissions earned |  $1,255,034                |  $1,921,457               |  $5,468,314  |  $8,689,803  |
|  Contingentceding commissions earned  |   (210,505)                |   (203,847)               |   (1,037,459) |   (481,803) |
|                                       |  $1,044,529                |  $1,717,610               |  $4,430,855  |  $8,208,000  |

|                              |   September 30,  |   December 31,  |
|-----------------------------------|---------------------------------|--------------------------------|
|                              |  2018                 |  2017                |
|                              |                  |                 |
|  5.50%Senior Unsecured Notes |  $30,000,000          |  $30,000,000         |
|  Discount                    |   (137,877)           |   (162,209)          |
|  Issuancecosts               |   (610,917)           |   (710,826)          |
|  Long-termdebt, net          |  $29,251,206          |  $29,126,965         |

| Stock Options                               |  Number of Shares  |   Weighted Average Exercise Price per Share  |   Weighted Average Remaining Contractual Term  |   Aggregate Intrinsic Value  |
|---------------------------------------------|------------------------------|-------------------------------------------------------------|---------------------------------------------------------------|---------------------------------------------|
|                                        |               |                                              |                                                |                              |
| Outstandingat January 1, 2018               |   341,150     |  $6.69                                            |   1.67                                         |  $4,131,028                       |
|                                        |          |                                         |                                           |                         |
| Granted                                     |   -           |  $-                                               |   -                                            |  $-                               |
| Exercised                                   |   (175,250)        |  $6.32                                            |   -                                            |  $2,364,143                       |
| Forfeited                                   |   -           |  $-                                               |   -                                            |  $-                               |
|                                        |          |                                         |                                           |                         |
| Outstandingat September 30, 2018            |   165,900     |  $7.09                                            |   1.22                                         |  $1,976,245                       |
|                                        |          |                                         |                                           |                         |
| Vestedand Exercisable at September 30, 2018 |  155,900           |  $7.01                                                 |   1.14                                              |  $1,869,508                            |

| Restricted Stock Awards      |  Shares         |   Weighted Average Grant Date Fair Value per Share  |   Aggregate Fair Value  |
|------------------------------|---------------------------|--------------------------------------------------------------------|----------------------------------------|
|                         |            |                                                     |                         |
| Balanceat January 1, 2018    |   47,337   |  $14.35                                                  |  $679,180                    |
|                         |       |                                                |                    |
| Granted                      |   90,004   |  $19.09                                                  |  $1,717,958                  |
| Vested                       |   (15,752)      |  $14.07                                                  |  $(221,613)                       |
| Forfeited                    |   (664)         |  $15.00                                                  |  $(9,960)                         |
|                         |       |                                                |                    |
| Balanceat September 30, 2018 |   120,925  |  $17.91                                                  |  $2,165,565                  |

|                                                         |   September 30,  |   December 31,  |
|--------------------------------------------------------------|---------------------------------|--------------------------------|
|                                                         |   2018           |   2017          |
|                                                         |                  |                 |
|  Deferredtax asset:                                     |                  |                 |
|  Netoperating loss carryovers (1)                       |  $87,018              |  $103,655            |
|  Claimsreserve discount                                 |   357,793        |   300,005       |
|  Unearnedpremium                                        |   3,048,775      |   2,431,301     |
|  Deferredceding commission revenue                      |   528,668        |   895,947       |
|  Netunrealized loss of securities - available for sale  |   537,678        |   -             |
|  Other                                                  |   329,273        |   382,522       |
|  Totaldeferred tax assets                               |   4,889,205      |   4,113,430     |
|                                                         |             |            |
|  Deferredtax liability:                                 |             |            |
|  Investmentin KICO (2)                                  |   759,543        |   759,543       |
|  Deferredacquisition costs                              |   3,595,882      |   3,117,920     |
|  Intangibles                                            |   158,550        |   212,100       |
|  Depreciationand amortization                           |   253,227        |   328,735       |
|  Netunrealized gains of securities - available for sale |   -              |   295,474       |
|  Totaldeferred tax liabilities                          |   4,767,202      |   4,713,772     |
|                                                         |             |            |
|  Netdeferred income tax asset (liability)               |  $122,003             |  $(600,342)               |

|                                                             |   September 30,  |   December 31,  |             |
|------------------------------------------------------------------|---------------------------------|--------------------------------|------------------|
|  Type of NOL                                                |   2018           |   2017          | Expiration       |
|  Stateonly (A)                                              |  $1,146,036           |  $824,996            | December31, 2038 |
|  Valuationallowance                                         |   (1,061,118)         |   (725,541)          |             |
|  Stateonly, net of valuation allowance                      |   84,918         |   99,455        |             |
|  Amountsubject to Annual Limitation, federal only (B)       |   2,100          |   4,200         | December31, 2019 |
|  Totaldeferred tax asset from net operating loss carryovers |  $87,018              |  $103,655            |             |

|                                                         |   Three months ended  |   Nine months ended  |
|--------------------------------------------------------------|--------------------------------------|-------------------------------------|
|                                                         |   September 30,       |   September 30,      |
|                                                         |   2018                |   2017               |   2018  |   2017  |
|                                                         |                       |                      |     |     |
|  Weightedaverage number of shares outstanding           |   10,681,329          |   10,626,242         |   10,672,084  |   10,307,689  |
|                                                         |                  |                 |      |      |
|  Effectof dilutive securities, common share equivalents |                  |                 |      |      |
|  Stockoptions                                           |   98,749              |   197,133            |   100,628  |   189,211  |
|  Restrictedstock awards                                 |   11,045              |   9,364              |   7,878  |   3,372  |
|                                                         |                  |                 |      |      |
|  Weightedaverage number of shares outstanding,          |                  |                 |      |      |
|  usedfor computing diluted earnings per share           |   10,791,123          |   10,832,739         |   10,780,590  |   10,500,272  |

| For the Year       |            |
|--------------------|---------------------------|
|  Ending       |            |
|  December 31, |   Total    |
| 2018(three months) |  $41,379        |
| 2019               |   169,861  |
| 2020               |   175,806  |
| 2021               |   181,959  |
| 2022               |   188,328  |
|  Thereafter   |   244,064  |
|  Total        |  $1,001,397     |

|                                                                       |  Nine months ended September 30,  |
|----------------------------------------------------------------------------|---------------------------------------------|
| ($ in thousands)                                                           |  2018                             |  2017  |  Change  |   Percent  |
|  Revenues                                                             |                              |     |     |     |
|  Directwritten premiums                                               |  $107,175                         |  $89,424  |  $17,751  |   19.9% |
|  Assumedwritten premiums                                              |   1                          |   18  |   (17) |   (94.4)% |
|                                                                       |   107,176                    |   89,442  |   17,734  |   19.8% |
|  Cededwritten premiums                                                |                         |      |      |      |
|  Ceded toquota share treaties in force during the period              |   12,690                     |   18,943  |  $(6,253) |   (33.0)% |
|  Returnof premiums previously ceded to prior quota sharetreaties      |   (4,553)                         |   (7,140) |   2,587  |   (36.2)% |
|  Ceded toquota share treaties                                         |   8,137                      |   11,803  |   (3,666) |   (31.1)% |
|  Ceded toexcess of loss treaties                                      |   988                        |   903  |   85  |   9.4% |
|  Ceded tocatastrophe treaties                                         |   10,284                     |   8,013  |   2,271  |   28.3% |
|  Totalceded written premiums                                          |   19,409                     |   20,719  |   (1,310) |   (6.3)% |
|                                                                       |                         |      |      |      |
|  Netwritten premiums                                                  |   87,767                     |   68,723  |   19,044  |   27.7% |
|                                                                       |                         |      |      |      |
|  Changein unearned premiums                                           |                         |      |      |      |
|  Directand assumed                                                    |   (9,927)                         |   (8,449) |   (1,478) |   17.5% |
|  Ceded toquota share treaties                                         |   (3,364)                         |   (5,437) |   2,073  |   (38.1)% |
|  Changein net unearned premiums                                       |   (13,291)                        |   (13,886) |   595  |   (4.3)% |
|                                                                       |                         |      |      |      |
|  Premiumsearned                                                       |                         |      |      |      |
|  Directand assumed                                                    |   97,249                     |   80,994  |   16,255  |   20.1% |
|  Ceded toreinsurance treaties                                         |   (22,773)                        |   (26,156) |   3,383  |   (12.9)% |
|  Netpremiums earned                                                   |   74,476                     |   54,838  |   19,638  |   35.8% |
|  Cedingcommission revenue                                             |                         |      |      |      |
|  Excludingthe effect of catastrophes                                  |   4,890                      |   8,208  |   (3,318) |   (40.4)% |
|  Effectof catastrophes                                                |   (459)                           |   -  |   (459) |   n/a% |
|  Totalceding commission revenue                                       |   4,431                      |   8,208  |   (3,777) |   (46.0)% |
|  Netinvestment income                                                 |   4,543                      |   2,917  |   1,626  |   55.7% |
|  Net(losses) gains on investments                                     |   (278)                           |   97  |   (375) |   (386.6)% |
|  Otherincome                                                          |   962                        |   926  |   36  |   3.9% |
|  Totalrevenues                                                        |   84,134                     |   66,986  |   17,148  |   25.6% |
|  Expenses                                                             |                         |      |      |      |
|  Loss andloss adjustment expenses                                     |                         |      |      |      |
|  Directand assumed:                                                   |                         |      |      |      |
|  Loss andloss adjustment expenses excluding the effect ofcatastrophes |   42,603                     |   31,324  |   11,279  |   36.0% |
|  Lossesfrom catastrophes (1)                                          |   10,805                     |   -  |   10,805  |   n/a% |
|  Totaldirect and assumed loss and loss adjustmentexpenses             |   53,408                     |   31,324  |   22,084  |   70.5% |
|                                                                       |                         |      |      |      |
|  Cededloss and loss adjustment expenses:                              |                         |      |      |      |
|  Loss andloss adjustment expenses excluding the effect ofcatastrophes |   6,984                      |   8,503  |   (1,519) |   (17.9)% |
|  Lossesfrom catastrophes (1)                                          |   4,685                      |   -  |   4,685  |   n/a% |
|  Totalceded loss and loss adjustment expenses                         |   11,669                     |   8,503  |   3,166  |   37.2% |
|                                                                       |                         |      |      |      |
|  Net lossand loss adjustment expenses:                                |                         |      |      |      |
|  Loss andloss adjustment expenses excluding the effect ofcatastrophes |   35,619                     |   22,821  |   12,798  |   56.1% |
|  Lossesfrom catastrophes (1)                                          |   6,120                      |   -  |   6,120  |   n/a% |
|  Net lossand loss adjustment expenses                                 |   41,739                     |   22,821  |   18,918  |   82.9% |
|                                                                       |                         |      |      |      |
|  Commissionexpense                                                    |   18,411                     |   15,491  |   2,920  |   18.8% |
|  Otherunderwriting expenses                                           |   15,301                     |   12,887  |   2,414  |   18.7% |
|  Otheroperating expenses                                              |   1,774                      |   2,732  |   (958) |   (35.1)% |
|  Depreciationand amortization                                         |   1,274                      |   1,023  |   251  |   24.5% |
|  Interestexpense                                                      |   1,365                      |   -  |   1,365  |   n/a% |
|  Totalexpenses                                                        |   79,864                     |   54,954  |   24,910  |   45.3% |
|                                                                       |                         |      |      |      |
|  Incomefrom operations before taxes                                   |   4,269                      |   12,032  |   (7,763) |   (64.5)% |
|  Incometax expense                                                    |   296                        |   3,977  |   (3,681) |   (92.6)% |
|  Net income                                                           |  $3,973                           |  $8,055  |  $(4,082) |   (50.7)% |

|                                |  Nine months ended September 30,  |
|-------------------------------------|---------------------------------------------|
|                                |  2018                             |  2017  |  Percentage Point Change  |   Percent Change  |
|                                |                              |     |     |     |
|  Key ratios:                   |                              |     |     |     |
|  Netloss ratio                 |   56.0%                           |   41.6% |   14.4  |   34.6% |
|  Netunderwriting expense ratio |   38.1%                           |   35.2% |   2.9  |   8.2% |
|  Netcombined ratio             |   94.1%                           |   76.8% |   17.3  |   22.5% |

|                         |  Nine monthsended September 30, 2018  |  Nine monthsended September 30, 2017  |
|------------------------------|-------------------------------------------------|-------------------------------------------------|
|                         |  January1,                            |  July1,                               |  January1,  |  July1,  |
|                         |  to                                   |  to                                   |  to  |  to  |
|                         |  June30,                              |  September30,                         |  June30,  |  September30,  |
|                         |   ("2017/2019Treaty")            |  ("2017/2019Treaty")             |   ("2016/2017Treaty")  |  ("2017/2019Treaty")   |
| Quota sharereinsurance rates |                        |                        |       |       |
| Personallines                |   20%(1)                              |   10%(1)                              |   40% |   20%(1) |

|                                                                        |  Nine months ended September 30,  |
|-----------------------------------------------------------------------------|---------------------------------------------|
| ($ in thousands)                                                            |  2018                             |  2017  |  Change  |   Percent  |
|                                                                        |                              |     |     |     |
|   Netwritten premiums                                             |  $87,767                          |  $68,723  |  $19,044  |   27.7% |
|   Returnof premiums previously ceded to prior quota sharetreaties |   4,553                      |   7,140  |   (2,587) |   (36.2)% |
|   Netwritten premiums without the effect of the July 1Cut-off     |  $83,214                          |  $61,583  |  $21,631  |   35.1% |

|                                                          |  Nine months ended September 30, 2018 |  Nine months ended September 30, 2017 |
|---------------------------------------------------------------|--------------------------------------------|--------------------------------------------|
|                                                          | January 1,                                 | July 1,                                    | January 1, | July 1, |
|                                                          |  to                                   |  to                                   |  to |  to |
|                                                          | June 30,                                   | September 30,                              | June 30, | September 30, |
|                                                          |  ("2017/2019Treaty")                  |  ("2017/2019Treaty")                  |  ("2016/2017Treaty") |  ("2017/2019Treaty") |
|  Provisionalceding commission rate on quota share treaty |                             |                             |     |     |
|  Personallines                                           | 53%                                        | 53%                                        | 52% | 53% |

|                                                     |  Nine months ended September 30,  |
|----------------------------------------------------------|---------------------------------------------|
| ($ in thousands)                                         |  2018                             |  2017  |  Change  |   Percent  |
|                                                     |                              |     |     |     |
|  Provisionalceding commissions earned               |  $5,468                           |  $8,690  |  $(3,222) |   (37.1)% |
|                                                     |                         |      |      |      |
|  Contingentceding commissions earned                |                         |      |      |      |
|  Contingentceding commissions earned excluding      |                         |      |      |      |
|  theeffect of catastrophes                          |   (578)                           |   (482) |   (96) |   19.9% |
|  Effectof catastrophes on ceding commissions earned |   (459)                           |   -  |   (459) |   n/a  |
|  Contingentceding commissions earned                |   (1,037)                         |   (482) |   (555) |   115.1% |
|                                                     |                         |      |      |      |
|  Totalceding commission revenue                     |  $4,431                           |  $8,208  |  $(3,777) |   (46.0)% |

|                                             |   Nine months ended    |   $ or    |
|--------------------------------------------------|---------------------------------------|--------------------------|
|                                             |   September 30,   |   Point   |
|                                             |  2018                       |  2017          |   Change  |
|                                             |                        |           |     |
|  Netpremiums earned                         |                        |           |     |
|  Core                                       |  $72,379                    |  $54,730       |  $17,649  |
|  Expansion                                  |   2,097                |   108     |   1,989  |
|  Total                                      |  $74,476                    |  $54,838       |  $19,638  |
|                                             |                   |      |      |
|  Otherunderwriting expenses                 |                   |      |      |
|  Core                                       |  $14,063                    |  $12,146       |  $1,917  |
|  Expansion                                  |   1,238                |   741     |   497  |
|  Total                                      |  $15,301                    |  $12,887       |  $2,414  |
|                                             |                   |      |      |
|  Otherunderwriting expenses as a percentage |                   |      |      |
|  ofnet premiums earned                      |                   |      |      |
|  Core                                       |   19.4%                     |   22.2%        |   -2.8% |
|  Expansion                                  |   59.0%                     |   686.1%       |   -627.1% |
|  Total                                      |   20.6%                     |   23.5%        |   -2.9% |

|                                              |   Nine months ended  |                      |
|---------------------------------------------------|-------------------------------------|------------------------------------------|
|                                              |  September30,             |    Percentage   |
|                                              |   2018               |   2017                    |   Point Change  |
|                                              |                      |                           |     |
| Cedingcommission revenue - provisional            |   (7.3)%                  |   (15.8)%                      |   8.5  |
| Cedingcommission revenue - contingent             |   1.4                |   0.9                     |   0.5  |
| Otherincome                                       |   (1.3)                   |   (1.6)                        |   0.3  |
| Acquisitioncosts and other underwriting expenses: |                 |                      |      |
| Commissionexpense                                 |   24.7               |   28.2                    |   (3.5) |
|                                              |   17.5               |   11.7                    |   5.8  |
|  Otherunderwriting expenses                  |                 |                      |      |
| Core                                              |                 |                      |      |
| Employmentcosts                                   |   8.4                |   9.9                     |   (1.5) |
| OtherCore Expenses                                |   10.5               |   12.3                    |   (1.8) |
| TotalCore Expenses                                |   18.9               |   22.2                    |   (3.3) |
| ExpansionExpenses                                 |   1.7                |   1.3                     |   0.4  |
| Totalother underwriting expenses                  |   20.6               |   23.5                    |   (2.9) |
|                                              |                 |                      |      |
| Netunderwriting expense ratio                     |   38.1%                   |   35.2%                        |   2.9  |

|                                                                       |  Three months ended September 30,  |
|----------------------------------------------------------------------------|----------------------------------------------|
| ($ in thousands)                                                           |  2018                              |  2017  |  Change  |   Percent  |
|  Revenues                                                             |                               |     |     |     |
|  Directwritten premiums                                               |  $38,785                           |  $32,840  |  $5,945  |   18.1% |
|  Assumedwritten premiums                                              |   -                           |   12  |   (12) |   (100.0)% |
|                                                                       |   38,785                      |   32,852  |   5,933  |   18.1% |
|  Cededwritten premiums                                                |                          |      |      |      |
|  Cededto quota share treaties in force during the period              |   3,080                       |   4,635  |   (1,555) |   (33.5)% |
|  Returnof premiums previously ceded to prior quota sharetreaties      |   (4,553)                          |   (7,140) |   2,587  |   (36.2)% |
|  Cededto quota share treaties                                         |   (1,473)                          |   (2,505) |   1,032  |   (41.2)% |
|  Cededto excess of loss treaties                                      |   392                         |   267  |   125  |   46.8% |
|  Cededto catastrophe treaties                                         |   3,764                       |   2,829  |   935  |   33.1% |
|  Totalceded written premiums                                          |   2,683                       |   591  |   2,092  |   354.0% |
|                                                                       |                          |      |      |      |
|  Netwritten premiums                                                  |   36,102                      |   32,261  |   3,841  |   11.9% |
|                                                                       |                          |      |      |      |
|  Changein unearned premiums                                           |                          |      |      |      |
|  Directand assumed                                                    |   (4,435)                          |   (4,409) |   (26) |   0.6% |
|  Cededto quota share treaties                                         |   (4,133)                          |   (6,339) |   2,206  |   (34.8)% |
|  Changein net unearned premiums                                       |   (8,568)                          |   (10,748) |   2,180  |   (20.3)% |
|                                                                       |                          |      |      |      |
|  Premiumsearned                                                       |                          |      |      |      |
|  Directand assumed                                                    |   34,351                      |   28,445  |   5,906  |   20.8% |
|  Cededto reinsurance treaties                                         |   (6,817)                          |   (6,931) |   114  |   (1.6)% |
|  Netpremiums earned                                                   |   27,534                      |   21,514  |   6,020  |   28.0% |
|  Cedingcommission revenue                                             |                          |      |      |      |
|  Excludingthe effect of catastrophes                                  |   1,045                       |   1,718  |   (673) |   (39.2)% |
|  Effectof catastrophes                                                |   -                           |   -  |   -  |   n/a% |
|  Totalceding commission revenue                                       |   1,045                       |   1,718  |   (673) |   (39.2)% |
|  Netinvestment income                                                 |   1,602                       |   1,033  |   569  |   55.1% |
|  Netgains on investments                                              |   352                         |   21  |   331  |   1,576.2% |
|  Otherincome                                                          |   353                         |   328  |   25  |   7.6% |
|  Totalrevenues                                                        |   30,886                      |   24,614  |   6,272  |   25.5% |
|  Expenses                                                             |                          |      |      |      |
|  Lossand loss adjustment expenses                                     |                          |      |      |      |
|  Directand assumed:                                                   |                          |      |      |      |
|  Lossand loss adjustment expenses excluding the effect ofcatastrophes |   16,705                      |   8,150  |   8,555  |   105.0% |
|  Lossesfrom catastrophes (1)                                          |   244                         |   -  |   244  |   n/a% |
|  Totaldirect and assumed loss and loss adjustment expenses            |   16,949                      |   8,150  |   8,799  |   108.0% |
|                                                                       |                          |      |      |      |
|  Cededloss and loss adjustment expenses:                              |                          |      |      |      |
|  Lossand loss adjustment expenses excluding the effect ofcatastrophes |   3,798                       |   1,077  |   2,721  |   252.6% |
|  Lossesfrom catastrophes (1)                                          |   (146)                            |   -  |   (146) |   n/a% |
|  Totalceded loss and loss adjustment expenses                         |   3,652                       |   1,077  |   2,575  |   239.1% |
|                                                                       |                          |      |      |      |
|  Netloss and loss adjustment expenses:                                |                          |      |      |      |
|  Lossand loss adjustment expenses excluding the effect ofcatastrophes |   12,907                      |   7,073  |   5,834  |   82.5% |
|  Lossesfrom catastrophes (1)                                          |   390                         |   -  |   390  |   n/a% |
|  Netloss and loss adjustment expenses                                 |   13,297                      |   7,073  |   6,224  |   88.0% |
|                                                                       |                          |      |      |      |
|  Commissionexpense                                                    |   6,594                       |   5,500  |   1,094  |   19.9% |
|  Otherunderwriting expenses                                           |   5,194                       |   4,475  |   719  |   16.1% |
|  Otheroperating expenses                                              |   683                         |   1,069  |   (386) |   (36.1)% |
|  Depreciationand amortization                                         |   440                         |   379  |   61  |   16.1% |
|  Interestexpense                                                      |   456                         |   -  |   456  |   n/a% |
|  Totalexpenses                                                        |   26,665                      |   18,496  |   8,169  |   44.2% |
|                                                                       |                          |      |      |      |
|  Incomefrom operations before taxes                                   |   4,221                       |   6,118  |   (1,897) |   (31.0)% |
|  Incometax expense                                                    |   287                         |   2,044  |   (1,757) |   (86.0)% |
|  Net income                                                           |  $3,934                            |  $4,074  |  $(140) |   (3.4)% |

|                                |  Three months ended September 30,  |
|-------------------------------------|----------------------------------------------|
|                                |  2018                              |  2017  |  Percentage Point Change  |   Percent Change  |
|                                |                               |     |     |     |
|  Key ratios:                   |                               |     |     |     |
|  Netloss ratio                 |   48.3%                            |   32.9% |   15.4  |   46.8% |
|  Netunderwriting expense ratio |   37.7%                            |   36.9% |   0.8  |   2.2% |
|  Netcombined ratio             |   86.0%                            |   69.8% |   16.2  |   23.2% |

|                                |  Three months ended September 30, |
|-------------------------------------|----------------------------------------|
|                                |  2018                             |   |  2017 |
|                                |  ("2017/2019 Treaty")             |  ("2017/2019 Treaty") |
|                                |                                   |   |   |   |   |
|  Quota share reinsurance rates |                                   |   |   |   |   |
|  Personallines                 |                                   | 10% |   |   | 20% |

|                                                                        |  Three months ended September 30,  |
|-----------------------------------------------------------------------------|----------------------------------------------|
| ($ in thousands)                                                            |  2018                              |  2017  |  Change  |   Percent  |
|                                                                        |                               |     |     |     |
|   Netwritten premiums                                             |  $36,102                           |  $32,261  |  $3,841  |   11.9% |
|   Returnof premiums previously ceded to prior quota sharetreaties |   4,553                       |   7,140  |   (2,587) |   (36.2)% |
|   Netwritten premiums without the effect of the July 1Cut-off     |  $31,549                           |  $25,121  |  $6,428  |   25.6% |

|                                                          | Three months ended   |
|---------------------------------------------------------------|----------------------|
|                                                          | September 30,        |
|                                                          | 2018                 |   | 2017 |
|                                                          | ("2017/2019 Treaty") | ("2017/2019 Treaty") |
|                                                          |                 |   |   |
|  Provisional ceding commission rate on quota sharetreaty |                 |   |   |
|  Personallines                                           | 53%                  |   | 53% |

|                                                     |  Three months ended September 30,  |
|----------------------------------------------------------|----------------------------------------------|
| ($ in thousands)                                         |  2018                              |  2017  |  Change  |   Percent  |
|                                                     |                               |     |     |     |
|  Provisionalceding commissions earned               |  $1,255                            |  $1,922  |  $(667) |   (34.7)% |
|                                                     |                          |      |      |      |
|  Contingentceding commissions earned                |                          |      |      |      |
|  Contingentceding commissions earned excluding      |                          |      |      |      |
|  theeffect of catastrophes                          |   (210)                            |   (204) |   (6) |   2.9% |
|  Effectof catastrophes on ceding commissions earned |   -                           |   -  |   -  |   n/a% |
|  Contingentceding commissions earned                |   (210)                            |   (204) |   (6) |   2.9% |
|                                                     |                          |      |      |      |
|  Totalceding commission revenue                     |  $1,045                            |  $1,718  |  $(673) |   (39.2)% |

|                                             |   Three months ended  |   $ or    |
|--------------------------------------------------|--------------------------------------|--------------------------|
|                                             |   September 30,       |   Point   |
|                                             |  2018                      |  2017          |   Change  |
|                                             |                       |           |     |
|  Netpremiums earned                         |                       |           |     |
|  Core                                       |  $26,434                   |  $21,411       |  $5,023  |
|  Expansion                                  |   1,100               |   103     |   997  |
|  Total                                      |  $27,534                   |  $21,514       |  $6,020  |
|                                             |                  |      |      |
|  Otherunderwriting expenses                 |                  |      |      |
|  Core                                       |  $4,747                    |  $4,244        |  $503  |
|  Expansion                                  |   447                 |   231     |   216  |
|  Total                                      |  $5,194                    |  $4,475        |  $719  |
|                                             |                  |      |      |
|  Otherunderwriting expenses as a percentage |                  |      |      |
|  ofnet premiums earned                      |                  |      |      |
|  Core                                       |   18.0%                    |   19.8%        |   -1.8% |
|  Expansion                                  |   40.6%                    |   224.3%       |   -183.6% |
|  Total                                      |   18.9%                    |   20.8%        |   -1.9% |

|                                                    |  Threemonths ended    |                |
|---------------------------------------------------------|---------------------------------|--------------------------|
|                                                    |   September 30,  |  Percentage    |
|                                                    |   2018           |   2017    |   Point Change  |
|                                                    |                  |           |     |
|  Cedingcommission revenue - provisional            |   (4.6)%              |   (8.9)%       |   4.3  |
|  Cedingcommission revenue - contingent             |   0.8            |   0.9     |   (0.1) |
|  Otherincome                                       |   (1.3)               |   (1.5)        |   0.2  |
|  Acquisitioncosts and other underwriting expenses: |             |      |      |
|  Commissionexpense                                 |   23.9           |   25.6    |   (1.7) |
|                                                    |   18.8           |   16.1    |   2.7  |
|   Otherunderwriting expenses                  |             |      |      |
|  Core                                              |             |      |      |
|  Employmentcosts                                   |   7.7            |   9.0     |   (1.3) |
|  OtherCore Expenses                                |   9.6            |   10.7    |   (1.1) |
|  TotalCore Expenses                                |   17.3           |   19.7    |   (2.4) |
|  ExpansionExpenses                                 |   1.6            |   1.1     |   0.5  |
|  Totalother underwriting expenses                  |   18.9           |   20.8    |   (1.9) |
|                                                    |             |      |      |
|  Netunderwriting expense ratio                     |   37.7%               |   36.9%        |   0.8  |

|                                            |   For the Three Months Ended  |   For the Nine Months Ended  |
|-------------------------------------------------|----------------------------------------------|---------------------------------------------|
|                                            |   September 30,               |   September 30,              |
|                                            |   2018                        |   2017                       |   2018  |   2017  |
|                                            |                               |                              |     |     |
|  Grosspremiums written:                    |                               |                              |     |     |
|  Personallines                             |  $32,544,609                       |  $26,729,634                      |  $87,022,189  |  $69,331,085  |
|  Commerciallines                           |   3,807,533                   |   3,634,037                  |   12,825,369  |   11,380,912  |
|  Liveryphysical damage                     |   2,363,844                   |   2,422,352                  |   7,142,413  |   8,549,878  |
|  Other(1)                                  |   69,486                      |   65,778                     |   186,285  |   180,086  |
|  Total                                     |  $38,785,472                       |  $32,851,801                      |  $107,176,256  |  $89,441,961  |
|                                            |                          |                         |      |      |
|  Netpremiums written:                      |                          |                         |      |      |
|  Personallines                             |                          |                         |      |      |
|  Excludingthe effect of quota share        |                          |                         |      |      |
|   adjustmentson July 1                |  $25,799,427                       |  $19,373,782                      |  $64,463,230  |  $42,684,254  |
|  Returnof premiums previously ceded to     |                          |                         |      |      |
|   priorquota share treaties           |   4,553,345                   |   7,140,088                  |   4,553,345  |   7,140,088  |
|  Personallines (2)                         |   30,352,772                  |   26,513,870                 |   69,016,575  |   49,824,342  |
|  Commerciallines                           |   3,311,706                   |   3,250,326                  |   11,438,135  |   10,196,459  |
|  Liveryphysical damage                     |   2,363,844                   |   2,422,352                  |   7,142,413  |   8,549,878  |
|  Other(1)                                  |   73,449                      |   74,771                     |   169,709  |   152,245  |
|  Total                                     |  $36,101,771                       |  $32,261,319                      |  $87,766,832  |  $68,722,924  |
|                                            |                          |                         |      |      |
|  Netpremiums earned:                       |                          |                         |      |      |
|  Personallines (2)                         |  $21,537,581                       |  $15,395,435                      |  $56,809,219  |  $37,125,043  |
|  Commerciallines                           |   3,542,230                   |   3,125,137                  |   10,195,912  |   8,953,476  |
|  Liveryphysical damage                     |   2,398,005                   |   2,939,032                  |   7,320,065  |   8,616,365  |
|  Other(1)                                  |   56,091                      |   54,804                     |   150,942  |   142,999  |
|  Total                                     |  $27,533,907                       |  $21,514,408                      |  $74,476,138  |  $54,837,883  |
|                                            |                          |                         |      |      |
|  Netloss and loss adjustment expenses (3): |                          |                         |      |      |
|  Personallines                             |  $9,652,796                        |  $3,553,087                       |  $31,096,528  |  $13,304,934  |
|  Commerciallines                           |   2,263,789                   |   1,535,862                  |   5,514,051  |   4,294,440  |
|  Liveryphysical damage                     |   894,874                     |   1,417,332                  |   3,160,670  |   3,643,007  |
|  Other(1)                                  |   (63,570)                         |   10,226                     |   313,408  |   32,824  |
|  Unallocatedloss adjustment expenses       |   548,819                     |   556,816                    |   1,654,466  |   1,546,036  |
|  Total                                     |  $13,296,708                       |  $7,073,323                       |  $41,739,123  |  $22,821,241  |
|                                            |                          |                         |      |      |
| Netloss ratio (3):                              |                          |                         |      |      |
| Personallines                                   |   44.8%                            |   23.1%                           |   54.7% |   35.8% |
| Commerciallines                                 |   63.9%                            |   49.1%                           |   54.1% |   48.0% |
| Liveryphysical damage                           |   37.3%                            |   48.2%                           |   43.2% |   42.3% |
| Other(1)                                        |   -113.3%                          |   18.7%                           |   207.6% |   23.0% |
| Total                                           |   48.3%                            |   32.9%                           |   56.0% |   41.6% |

|                                                   |  Three months ended  |  Nine months ended  |
|--------------------------------------------------------|--------------------------------|-------------------------------|
|                                                   |  September 30,       |  September 30,      |
|                                                   |  2018                |  2017               |  2018  |  2017  |
|                                                   |                 |                |     |     |
|  Revenues                                         |                 |                |     |     |
|  Netpremiums earned                               |  $27,533,907         |  $21,514,408        |  $74,476,138  |  $54,837,883  |
|  Cedingcommission revenue                         |   1,044,529     |   1,717,610    |   4,430,855  |   8,208,000  |
|  Netinvestment income                             |   1,544,327     |   1,033,307    |   4,459,479  |   2,917,111  |
|  Netgains (losses) on investments                 |   346,300       |   20,998       |   (283,061) |   96,915  |
|  Otherincome                                      |   352,476       |   317,269      |   937,264  |   880,930  |
|  Totalrevenues                                    |   30,821,539    |   24,603,592   |   84,020,675  |   66,940,839  |
|                                                   |            |           |      |      |
|  Expenses                                         |            |           |      |      |
|  Lossand loss adjustment expenses                 |   13,296,708    |   7,073,323    |   41,739,123  |   22,821,241  |
|  Commissionexpense                                |   6,594,323     |   5,500,483    |   18,411,460  |   15,491,027  |
|  Otherunderwriting expenses                       |   5,193,679     |   4,475,455    |   15,301,168  |   12,887,488  |
|  Depreciationand amortization                     |   440,383       |   378,518      |   1,273,975  |   1,023,390  |
|  Totalexpenses                                    |   25,525,093    |   17,427,779   |   76,725,726  |   52,223,146  |
|                                                   |            |           |      |      |
|  Incomefrom operations                            |   5,296,446     |   7,175,813    |   7,294,949  |   14,717,693  |
|  Incometax expense                                |   1,075,104     |   2,399,048    |   1,452,750  |   4,911,977  |
|  Netincome                                        |  $4,221,342          |  $4,776,765         |  $5,842,199  |  $9,805,716  |
|                                                   |            |           |      |      |
|                                                   |            |           |      |      |
|  Key Measures:                                    |            |           |      |      |
|  Netloss ratio                                    |   48.3%              |   32.9%             |   56.0% |   41.6% |
|  Netunderwriting expense ratio                    |   37.7%              |   36.9%             |   38.1% |   35.2% |
|  Netcombined ratio                                |   86.0%              |   69.8%             |   94.1% |   76.8% |
|                                                   |            |           |      |      |
|  Reconciliationof net underwriting expense ratio: |            |           |      |      |
|  Acquisitioncosts and other                       |            |           |      |      |
|  underwritingexpenses                             |  $11,788,002         |  $9,975,938         |  $33,712,628  |  $28,378,515  |
|  Less:Ceding commission revenue                   |   (1,044,529)        |   (1,717,610)       |   (4,430,855) |   (8,208,000) |
|  Less:Other income                                |   (352,476)          |   (317,269)         |   (937,264) |   (880,930) |
|  Netunderwriting expenses                         |  $10,390,997         |  $7,941,059         |  $28,344,509  |  $19,289,585  |
|                                                   |            |           |      |      |
|  Netpremiums earned                               |  $27,533,907         |  $21,514,408        |  $74,476,138  |  $54,837,883  |
|                                                   |            |           |      |      |
|  NetUnderwriting Expense Ratio                    |   37.7%              |   36.9%             |   38.1% |   35.2% |

|                                                 |   Direct      |   Assumed  |   Ceded    |   Net        |
|------------------------------------------------------|------------------------------|---------------------------|---------------------------|-----------------------------|
|                                                 |               |            |            |              |
|  Nine months ended September 30, 2018           |               |            |            |              |
|  Writtenpremiums                                |  $107,175,413      |  $842           |  $(19,409,423)       |  $87,766,832      |
|  Changein unearned premiums                     |   (9,930,503)      |   3,762    |   (3,363,953)   |   (13,290,694)    |
|  Earnedpremiums                                 |  $97,244,910       |  $4,604         |  $(22,773,376)       |  $74,476,138      |
|                                                 |          |       |       |         |
|  Lossand loss adjustment expenses exluding      |          |       |       |         |
|  theeffect of catastrophes                      |  $42,575,980       |  $27,037        |  $(6,983,566)        |  $35,619,451      |
|  Catastropheloss                                |   10,804,633  |   -        |   (4,684,961)   |   6,119,672  |
|  Lossand loss adjustment expenses               |  $53,380,613       |  $27,037        |  $(11,668,527)       |  $41,739,123      |
|                                                 |          |       |       |         |
|  Lossratio excluding the effect of catastrophes |   43.8%            |   587.3%        |   30.7%         |   47.8%           |
|  Catastropheloss                                |   11.1%            |   0.0%          |   20.5%         |   8.2%            |
|  Lossratio                                      |   54.9%            |   587.3%        |   51.2%         |   56.0%           |
|                                                 |          |       |       |         |
|  Nine months ended September 30, 2017           |          |       |       |         |
|  Writtenpremiums                                |  $89,423,758       |  $18,203        |  $(20,719,037)       |  $68,722,924      |
|  Changein unearned premiums                     |   (8,456,690)      |   8,162    |   (5,436,513)   |   (13,885,041)    |
|  Earnedpremiums                                 |  $80,967,068       |  $26,365        |  $(26,155,550)       |  $54,837,883      |
|                                                 |          |       |       |         |
|  Lossand loss adjustment expenses exluding      |          |       |       |         |
|  theeffect of catastrophes                      |  $31,281,727       |  $42,751        |  $(8,503,237)        |  $22,821,241      |
|  Catastropheloss                                |   -           |   -        |   -        |   -          |
|  Lossand loss adjustment expenses               |  $31,281,727       |  $42,751        |  $(8,503,237)        |  $22,821,241      |
|                                                 |          |       |       |         |
|  Lossratio excluding the effect of catastrophes |   38.6%            |   162.2%        |   32.5%         |   41.6%           |
|  Catastropheloss                                |   0.0%             |   0.0%          |   0.0%          |   0.0%            |
|  Lossratio                                      |   38.6%            |   162.2%        |   32.5%         |   41.6%           |
|                                                 |          |       |       |         |
|  Three months ended September 30, 2018          |          |       |       |         |
|  Writtenpremiums                                |  $38,785,453       |  $18            |  $(2,683,699)        |  $36,101,772      |
|  Changein unearned premiums                     |   (4,435,174)      |   698      |   (4,133,389)   |   (8,567,865)     |
|  Earnedpremiums                                 |  $34,350,279       |  $716           |  $(6,817,088)        |  $27,533,907      |
|                                                 |          |       |       |         |
|  Lossand loss adjustment expenses exluding      |          |       |       |         |
|  theeffect of catastrophes                      |  $16,700,865       |  $4,104         |  $(3,797,536)        |  $12,907,433      |
|  Catastropheloss                                |   243,244     |   -        |   146,031  |   389,275    |
|  Lossand loss adjustment expenses               |  $16,944,109       |  $4,104         |  $(3,651,505)        |  $13,296,708      |
|                                                 |          |       |       |         |
|  Lossratio excluding the effect of catastrophes |   48.6%            |   573.2%        |   55.7%         |   46.9%           |
|  Catastropheloss                                |   0.7%             |   0.0%          |   -2.1%         |   1.4%            |
|  Lossratio                                      |   49.3%            |   573.2%        |   53.6%         |   48.3%           |
|                                                 |          |       |       |         |
|  Three months ended September 30, 2017          |          |       |       |         |
|  Writtenpremiums                                |  $32,839,891       |  $11,910        |  $(590,482)          |  $32,261,319      |
|  Changein unearned premiums                     |   (4,407,894)      |   (165)         |   (6,338,852)   |   (10,746,911)    |
|  Earnedpremiums                                 |  $28,431,997       |  $11,745        |  $(6,929,334)        |  $21,514,408      |
|                                                 |          |       |       |         |
|  Lossand loss adjustment expenses exluding      |          |       |       |         |
|  theeffect of catastrophes                      |  $8,123,601        |  $26,418        |  $(1,076,696)        |  $7,073,323       |
|  Catastropheloss                                |   -           |   -        |   -        |   -          |
|  Lossand loss adjustment expenses               |  $8,123,601        |  $26,418        |  $(1,076,696)        |  $7,073,323       |
|                                                 |          |       |       |         |
|  Lossratio excluding the effect of catastrophes |   28.6%            |   224.9%        |   15.5%         |   32.9%           |
|  Catastropheloss                                |   0.0%             |   0.0%          |   0.0%          |   0.0%            |
|  Lossratio                                      |   28.6%            |   224.9%        |   15.5%         |   32.9%           |

|                                                     |   Three months ended  |   Nine months ended  |
|----------------------------------------------------------|--------------------------------------|-------------------------------------|
|                                                     |   September 30,       |   September 30,      |
|                                                     |   2018                |   2017               |   2018  |   2017  |
|                                                     |                       |                      |     |     |
|  Netpremiums earned                                 |  $27,533,907               |  $21,514,408              |  $74,476,138  |  $54,837,883  |
|  Cedingcommission revenue                           |   1,044,529           |   1,717,610          |   4,430,855  |   8,208,000  |
|  Otherincome                                        |   352,476             |   317,269            |   937,264  |   880,930  |
|                                                     |                  |                 |      |      |
|  Lossand loss adjustment expenses (1)               |   13,296,708          |   7,073,323          |   41,739,123  |   22,821,241  |
|                                                     |                  |                 |      |      |
|  Acquistioncosts and other underwriting expenses:   |                  |                 |      |      |
|  Commissionexpense                                  |   6,594,323           |   5,500,483          |   18,411,460  |   15,491,027  |
|  Otherunderwriting expenses                         |   5,193,679           |   4,475,455          |   15,301,168  |   12,887,488  |
|  Totalacquistion costs and other                    |                  |                 |      |      |
|  underwritingexpenses                               |   11,788,002          |   9,975,938          |   33,712,628  |   28,378,515  |
|                                                     |                  |                 |      |      |
|  Underwritingincome                                 |  $3,846,202                |  $6,500,026               |  $4,392,506  |  $12,727,057  |
|                                                     |                  |                 |      |      |
|  KeyMeasures:                                       |                  |                 |      |      |
|  Netloss ratio excluding the effect of catastrophes |   46.9%                    |   32.9%                   |   47.8% |   41.6% |
|  Effectof catastrophe loss on net loss ratio (1)    |   1.4%                     |   0.0%                    |   8.2% |   0.0% |
|  Netloss ratio                                      |   48.3%                    |   32.9%                   |   56.0% |   41.6% |
|                                                     |                  |                 |      |      |
|  Netunderwriting expense ratio excluding the        |                  |                 |      |      |
|  effectof catastrophes                              |   37.7%                    |   36.9%                   |   37.5% |   35.2% |
|  Effectof catastrophe loss on net underwriting      |                  |                 |      |      |
|  expenseratio (2)                                   |   0.0%                     |   0.0%                    |   0.6% |   0.0% |
|  Netunderwriting expense ratio                      |   37.7%                    |   36.9%                   |   38.1% |   35.2% |
|                                                     |                  |                 |      |      |
|  Netcombined ratio excluding the effect             |                  |                 |      |      |
|  ofcatastrophes                                     |   84.6%                    |   69.8%                   |   85.3% |   76.8% |
|  Effectof catastrophe loss on net combined          |                  |                 |      |      |
|  ratio(1) (2)                                       |   1.4%                     |   0.0%                    |   8.8% |   0.0% |
|  Netcombined ratio                                  |   86.0%                    |   69.8%                   |   94.1% |   76.8% |
|                                                     |                  |                 |      |      |
|  Reconciliationof net underwriting expense ratio:   |                  |                 |      |      |
|  Acquisitioncosts and other                         |                  |                 |      |      |
|  underwritingexpenses                               |  $11,788,002               |  $9,975,938               |  $33,712,628  |  $28,378,515  |
|  Less:Ceding commission revenue (2)                 |   (1,044,529)              |   (1,717,610)             |   (4,430,855) |   (8,208,000) |
|  Less:Other income                                  |   (352,476)                |   (317,269)               |   (937,264) |   (880,930) |
|                                           |  $10,390,997               |  $7,941,059               |  $28,344,509  |  $19,289,585  |
|                                                     |                  |                 |      |      |
|  Netearned premium                                  |  $27,533,907               |  $21,514,408              |  $74,476,138  |  $54,837,883  |
|                                                     |                  |                 |      |      |
|  NetUnderwriting Expense Ratio                      |   37.7%                    |   36.9%                   |   38.1% |   35.2% |

|                                   |  September 30, 2018  |
|----------------------------------------|--------------------------------|
|                                   |                 |     |     |     |     |     |
|                              |                 |     |   Gross Unrealized Losses  |     |   |
|                                   |  Cost or Amortized   |    Gross Unrealized  |   Lessthan 12  |   Morethan 12  |   Fair  |  % of Fair  |
|  Category                         |   Cost          |   Gains  |   Months  |   Months  |   Value  |  Value  |
|                                   |                 |     |     |     |     |     |
|  U.S.Treasury securities and      |                 |     |     |     |     |     |
|  obligationsof U.S. government    |                 |     |     |     |     |     |
|  corporationsand agencies         |  $8,214,959          |  $-  |  $(75,222) |  $-  |  $8,139,737  |   5.8% |
|                                   |            |      |      |      |      |      |
|  Politicalsubdivisions of States, |            |      |      |      |      |      |
|  Territoriesand Possessions       |   6,545,242     |   26,468  |   (63,596) |   (50,343) |   6,457,771  |   4.6% |
|                                   |            |      |      |      |      |      |
|  Corporateand other bonds         |            |      |      |      |      |      |
|  Industrialand miscellaneous      |   106,538,272   |   87,788  |   (2,461,966) |   (399,360) |   103,764,734  |   73.3% |
|                                   |            |      |      |      |      |      |
|  Residentialmortgage and other    |            |      |      |      |      |      |
|  assetbacked securities (1)       |   23,274,361    |   288,079  |   (99,954) |   (464,193) |   22,998,293  |   16.3% |
|  Totalfixed-maturity securities   |   144,572,834   |   402,335  |   (2,700,738) |   (913,896) |   141,360,535  |   100.0% |

|                                   |  December 31, 2017         |
|----------------------------------------|--------------------------------------|
|                                   |                       |     |     |     |     |     |
|                              |                       |     |   Gross Unrealized Losses  |     |    |
|                                   |    Cost or Amortized  |    Gross Unrealized  |   Lessthan 12  |   Morethan 12  |   Fair  |  % of Fair  |
|  Category                         |   Cost                |   Gains  |   Months  |   Months  |   Value  |  Value  |
|                                   |                       |     |     |     |     |     |
|  U.S.Treasury securities and      |                       |     |     |     |     |     |
|  obligationsof U.S. government    |                       |     |     |     |     |     |
|  corporationsand agencies         |  $-                        |  $-  |  $-  |  $-  |  $-  |   0.0% |
|                                   |                  |      |      |      |      |      |
|  Politicalsubdivisions of States, |                  |      |      |      |      |      |
|  Territoriesand Possessions       |   11,096,122          |   250,135  |   (30,814) |   -  |   11,315,443  |   9.4% |
|                                   |                  |      |      |      |      |      |
|  Corporateand other bonds         |                  |      |      |      |      |      |
|  Industrialand miscellaneous      |   87,562,631          |   1,189,207  |   (269,857) |   (340,516) |   88,141,465  |   73.5% |
|                                   |                  |      |      |      |      |      |
|  Residentialmortgage and other    |                  |      |      |      |      |      |
|  assetbacked securities (1)       |   20,463,353          |   305,499  |   (48,482) |   (189,022) |   20,531,348  |   17.1% |
|  Totalfixed-maturity securities   |   119,122,106         |   1,744,841  |   (349,153) |   (529,538) |   119,988,256  |   100.0% |

|                            |  September 30, 2018  |
|---------------------------------|--------------------------------|
|                            |                 |     |     |     |   % of  |
|                       |                 |   Gross  |   Gross  |   Fair  |   Fair  |
|  Category                  |   Cost          |   Gains  |   Losses  |   Value  |   Value  |
|                            |                 |     |     |     |     |
|  Equity Securities:        |                 |     |     |     |     |
|  Preferredstocks           |  $6,865,381          |  $20,121  |  $(188,302) |  $6,697,200  |   35.5% |
|  Commonstocks and exchange |            |      |      |      |      |
|  tradedmutual funds        |   11,628,928    |   1,131,212  |   (580,650) |   12,179,490  |   64.5% |
|  Total                     |  $18,494,309         |  $1,151,333  |  $(768,952) |  $18,876,690  |   100% |

|                            |  December 31, 2017  |
|---------------------------------|-------------------------------|
|                            |                |     |     |     |   % of  |
|                       |                |   Gross  |   Gross  |   Fair  |   Fair  |
|  Category                  |   Cost         |   Gains  |   Losses  |   Value  |   Value  |
|                            |                |     |     |     |     |
|  Equity Securities:        |                |     |     |     |     |
|  Preferredstocks           |  $7,081,099         |  $60,867  |  $(141,025) |  $7,000,941  |   49.0% |
|  Commonstocks and exchange |           |      |      |      |      |
|  tradedmutual funds        |   6,680,742    |   841,250  |   (236,735) |   7,285,257  |   51.0% |
|  Total                     |  $13,761,841        |  $902,117  |  $(377,760) |  $14,286,198  |   100% |

|                     |  September 30, 2018  |  December 31, 2017  |
|--------------------------|--------------------------------|-------------------------------|
|                     |                 |   Gross        |   Fair  |     |   Gross  |   Fair  |
|  Category           |   Cost          |   Gains        |   Value  |   Cost  |   Gains  |   Value  |
|                     |                 |                |     |     |     |     |
|  Other Investments: |                 |                |     |     |     |     |
|  Hedgefund          |  $2,000,000          |  $241,444           |  $2,241,444  |  $-  |  $-  |  $-  |
|  Total              |  $2,000,000          |  $241,444           |  $2,241,444  |  $-  |  $-  |  $-  |

|                                   |  September 30, 2018  |
|----------------------------------------|--------------------------------|
|                                   |                 |     |     |     |     |     |
|                              |                 |     |   Gross Unrealized Losses  |     |     |
|                                   |  Cost or Amortized   |  Gross Unrealized  |   Lessthan 12  |   Morethan 12  |   Fair  |  % of Fair  |
|  Category                         |   Cost          |   Gains  |   Months  |   Months  |   Value  |  Value  |
|                                   |                 |     |     |     |     |     |
|  U.S.Treasury securities          |  $729,496            |  $147,543  |  $(7,649) |  $-  |  $869,390  |   19.7% |
|                                   |            |      |      |      |      |      |
|  Politicalsubdivisions of States, |            |      |      |      |      |      |
|  Territoriesand Possessions       |   998,852       |   24,393  |   -  |   -  |   1,023,245  |   23.2% |
|                                   |            |      |      |      |      |      |
|  Corporateand other bonds         |            |      |      |      |      |      |
|  Industrialand miscellaneous      |   2,494,004     |   36,835  |   (5,100) |   (7,610) |   2,518,129  |   57.1% |
|                                   |            |      |      |      |      |      |
|  Total                            |  $4,222,352          |  $208,771  |  $(12,749) |  $(7,610) |  $4,410,764  |   100.0% |

|                                   |  December 31, 2017  |
|----------------------------------------|-------------------------------|
|                                   |                |     |     |     |     |     |
|                              |                |     |   Gross Unrealized Losses  |     |   |
|                                   |  Cost or Amortized  |  GrossUnrealized  |   Lessthan 12  |   Morethan 12  |   Fair  |  % of Fair  |
|  Category                         |   Cost         |   Gains  |   Months  |   Months  |   Value  |  Value  |
|                                   |                |     |     |     |     |     |
|  U.S.Treasury securities          |  $729,466           |  $147,573  |  $(1,729) |  $-  |  $875,310  |   17.0% |
|                                   |           |      |      |      |      |      |
|  Politicalsubdivisions of States, |           |      |      |      |      |      |
|  Territoriesand Possessions       |   998,984      |   50,366  |   -  |   -  |   1,049,350  |   20.4% |
|                                   |           |      |      |      |      |      |
|  Corporateand other bonds         |           |      |      |      |      |      |
|  Industrialand miscellaneous      |   3,141,358    |   90,358  |   -  |   (6,300) |   3,225,416  |   62.6% |
|                                   |           |      |      |      |      |      |
|  Total                            |  $4,869,808         |  $288,297  |  $(1,729) |  $(6,300) |  $5,150,076  |   100.0% |

|                            |  September 30, 2018  |  December 31, 2017  |
|---------------------------------|--------------------------------|-------------------------------|
|                            |  Amortized           |                |  Amortized  |     |
|  Remaining Time toMaturity |  Cost           |  Fair Value    |  Cost   |  Fair Value   |
|                            |                 |                |     |     |
|  Lessthan one year         |  $-                  |  $-                 |  $-  |  $-  |
|  Oneto five years          |   2,996,308     |   3,030,709    |   2,546,459  |   2,601,898  |
|  Fiveto ten years          |   619,548       |   626,016      |   1,716,884  |   1,794,139  |
|  Morethan 10 years    |   606,496       |   754,039      |   606,466  |   754,039  |
|  Total                     |  $4,222,352          |  $4,410,764         |  $4,869,808  |  $5,150,076  |

|                                                                                      |  September 30, 2018  |  December 31, 2017    |
|-------------------------------------------------------------------------------------------|--------------------------------|---------------------------------|
|                                                                                      |                 |   Percentage of  |     |   Percentage of  |
|                                                                                      |   Fair Market   |   Fair Market    |   Fair Market  |   Fair Market  |
|                                                                                      |   Value         |   Value          |   Value  |   Value  |
|                                                                                      |                 |                  |     |     |
|  Rating                                                                              |                 |                  |     |     |
|  U.S.Treasury securities and obligations of U.S. government corporationsand agencies |  $8,139,737          |   5.8%                |  $-  |   0.0% |
|                                                                                      |            |             |      |      |
|  Corporateand municipal bonds                                                        |            |             |      |      |
|  AAA                                                                                 |   974,663       |   0.7%                |   1,358,143  |   1.1% |
|  AA                                                                                  |   7,450,294     |   5.3%                |   11,319,057  |   9.4% |
|  A                                                                                   |   16,409,029    |   11.6%               |   17,199,631  |   14.3% |
|  BBB                                                                                 |   85,419,335    |   60.4%               |   68,704,768  |   57.3% |
|  BB                                                                                  |   -             |   0.0%                |   875,310  |   0.7% |
|  Totalcorporate and municipal bonds                                                  |   110,253,321   |   78.0%               |   99,456,909  |   82.8% |
|                                                                                      |            |             |      |      |
|  Residentialmortgage and other asset backed securities                               |            |             |      |      |
|   AAA                                                                           |   2,001,780     |   1.4%                |   2,013,010  |   1.7% |
|   AA                                                                            |   11,977,402    |   8.5%                |   11,021,144  |   9.2% |
|   A                                                                             |   4,349,290     |   3.1%                |   3,902,768  |   3.3% |
|   CCC                                                                           |   1,864,313     |   1.3%                |   1,420,296  |   1.2% |
|   CC                                                                            |   111,845       |   0.1%                |   120,742  |   0.1% |
|   C                                                                             |   24,905        |   0.0%                |   28,963  |   0.0% |
|   D                                                                             |   802,469       |   0.6%                |   1,659,479  |   1.4% |
|  Nonrated                                                                            |   1,835,473     |   1.2%                |   364,945  |   0.3% |
|  Totalresidential mortgage and other asset backed securities                         |   22,967,477    |   16.2%               |   20,531,347  |   17.2% |
|                                                                                      |            |             |      |      |
|  Total                                                                               |  $141,360,535        |   100.0%              |  $119,988,256  |   100.0% |

| Category                                                    |  September 30, 2018  |  December 31, 2017  |
|-------------------------------------------------------------|--------------------------------|-------------------------------|
|  U.S.Treasury securities and                           |                 |                |
|  obligationsof U.S. government                         |                 |                |
|  corporationsand agencies                              |   2.19%              |   3.32%             |
|                                                        |            |           |
|  Politicalsubdivisions of States,                      |            |           |
|  Territoriesand Possessions                            |   3.67%              |   3.49%             |
|                                                        |            |           |
|  Corporateand other bonds                              |            |           |
|  Industrialand miscellaneous                           |   4.11%              |   3.98%             |
|                                                        |            |           |
|  Residentialmortgage and other asset backed securities |   1.96%              |   1.83%             |
|                                                        |            |           |
|  Total                                                 |   3.63%              |   3.58%             |

|                                     |  September 30, 2018  |  December 31, 2017  |
|------------------------------------------|--------------------------------|-------------------------------|
|  Weightedaverage effective maturity |   6.0           |   5.7          |
|                                     |            |           |
|  Weightedaverage final maturity     |   7.6           |   7.8          |
|                                     |            |           |
|  Effectiveduration                  |   5.0           |   4.9          |

|                                |  September 30, 2018   |
|-------------------------------------|---------------------------------|
|                                |  Less than 12 months  |  12 months or more  |  Total  |
|                           |                  |     |   No. of  |     |     |   No. of  |   Aggregate  |     |
|                                |   Fair           |   Unrealized  |   Positions  |   Fair  |   Unrealized  |   Positions  |   Fair  |   Unrealized  |
|  Category                      |   Value          |   Losses  |   Held  |   Value  |   Losses  |   Held  |   Value  |   Losses  |
|                                |                  |     |     |     |     |     |     |     |
|  Fixed-Maturity Securities:    |                  |     |     |     |     |     |     |     |
|  U.S.Treasury securities       |                  |     |     |     |     |     |     |     |
|  andobligations of U.S.        |                  |     |     |     |     |     |     |     |
|  governmentcorporations        |                  |     |   |     |     |     |     |     |
|  andagencies                   |  $8,139,737           |  $(75,222) |   7  |  $-  |  $-  |   -  |  $8,139,737  |  $(75,222) |
|                                |             |      |      |      |      |      |      |      |
|  Politicalsubdivisions of      |             |      |      |      |      |      |      |      |
|  States,Territories and        |             |      |      |      |      |      |      |      |
|  Possessions                   |   3,396,474      |   (63,596) |   7  |   1,122,656  |   (50,343) |   2  |   4,519,130  |   (113,939) |
|                                |             |      |      |      |      |      |      |      |
|  Corporateand other            |             |      |      |      |      |      |      |      |
|  bondsindustrial and           |             |      |      |      |      |      |      |      |
|  miscellaneous                 |   86,846,478     |   (2,461,966) |   108  |   6,950,836  |   (399,360) |   14  |   93,797,314  |   (2,861,326) |
|                                |             |      |      |      |      |      |      |      |
|  Residentialmortgage and other |             |      |      |      |      |      |      |      |
|  assetbacked securities        |   8,593,080      |   (99,954) |   10  |   11,453,668  |   (464,193) |   18  |   20,046,748  |   (564,147) |
|                                |             |      |      |      |      |      |      |      |
|  Totalfixed-maturity           |             |      |      |      |      |      |      |      |
|  securities                    |  $106,975,769         |  $(2,700,738) |   132  |  $19,527,160  |  $(913,896) |   34  |  $126,502,929  |  $(3,614,634) |

|                                |  December 31, 2017    |
|-------------------------------------|---------------------------------|
|                                |  Less than 12 months  |  12 months or more  |  Total  |
|                           |                  |     |   No. of  |     |     |   No. of  |   Aggregate  |     |
|                                |   Fair           |   Unrealized  |   Positions  |   Fair  |   Unrealized  |   Positions  |   Fair  |   Unrealized  |
|  Category                      |   Value          |   Losses  |   Held  |   Value  |   Losses  |   Held  |   Value  |   Losses  |
|                                |                  |     |     |     |     |     |     |     |
|  Fixed-Maturity Securities:    |                  |     |     |     |     |     |     |     |
|  Politicalsubdivisions of      |                  |     |     |     |     |     |     |     |
|  States,Territories and        |                  |     |     |     |     |     |     |     |
|  Possessions                   |  $1,549,839           |  $(30,814) |   4  |  $-  |  $-  |   -  |  $1,549,839  |  $(30,814) |
|                                |             |      |      |      |      |      |      |      |
|  Corporateand other            |             |      |      |      |      |      |      |      |
|  bondsindustrial and           |             |      |      |      |      |      |      |      |
|  miscellaneous                 |   15,036,462     |   (269,857) |   20  |   9,113,924  |   (340,516) |   17  |   24,150,386  |   (610,373) |
|                                |             |      |      |      |      |      |      |      |
|  Residentialmortgage and other |             |      |      |      |      |      |      |      |
|  assetbacked securities        |   6,956,371      |   (48,482) |   6  |   7,867,572  |   (189,022) |   15  |   14,823,943  |   (237,504) |
|                                |             |      |      |      |      |      |      |      |
|  Totalfixed-maturity           |             |      |      |      |      |      |      |      |
|  securities                    |  $23,542,672          |  $(349,153) |   30  |  $16,981,496  |  $(529,538) |   32  |  $40,524,168  |  $(878,691) |
|                                |             |      |      |      |      |      |      |      |
|  Equity Securities:            |             |      |      |      |      |      |      |      |
|  Preferredstocks               |  $1,605,217           |  $(20,313) |   5  |  $1,776,675  |  $(120,712) |   3  |  $3,381,892  |  $(141,025) |
|  Commonstocks and              |             |      |      |      |      |      |      |      |
|  exchangetraded mutual funds   |   1,446,375      |   (222,205) |   4  |   124,900  |   (14,530) |   1  |   1,571,275  |   (236,735) |
|                                |             |      |      |      |      |      |      |      |
|  Totalequity securities        |  $3,051,592           |  $(242,518) |   9  |  $1,901,575  |  $(135,242) |   4  |  $4,953,167  |  $(377,760) |
|                                |             |      |      |      |      |      |      |      |
|  Total                         |  $26,594,264          |  $(591,671) |   39  |  $18,883,071  |  $(664,780) |   36  |  $45,477,335  |  $(1,256,451) |

| Nine months ended September 30,                           |  2018              |  2017              |
|-----------------------------------------------------------|------------------------------|------------------------------|
|                                                      |               |               |
|  Cashflows provided by (used in):                    |               |               |
|  Operatingactivities                                 |  $18,197,327       |  $20,889,623       |
|  Investingactivities                                 |   (32,299,835)     |   (34,698,530)     |
|  Financingactivities                                 |   (4,385,449)      |   27,644,693  |
|  Net (decrease) increase in cash and cashequivalents |   (18,487,957)     |   13,835,786  |
|  Cashand cash equivalents, beginning of period       |   48,381,633  |   12,044,520  |
|  Cash and cash equivalents, end of period            |  $29,893,676       |  $25,880,306       |

|                                                                                | Treaty Year               |
|-------------------------------------------------------------------------------------|---------------------------|
|                                                                                |  July 1, 2018   |  July 1, 2017  |  July 1, 2016  |
|                                                                                |  to             |  to  |  to  |
|  Line of Busines                                                               |  June 30, 2019  |  June 30, 2018  |  June 30, 2017  |
|                                                                                |            |     |     |
| Personal Lines:                                                                     |            |     |     |
| Homeowners,dwelling fire and canine legal liability                                 |            |     |     |
|  Quotashare treaty:                                                            |            |     |     |
|  Percentceded                                                                  |   10%           |   20% |   40% |
|  Riskretained                                                                  |  $900,000       |  $800,000  |  $500,000  |
|  Lossesper occurrence subject to quota share reinsurancecoverage               |  $1,000,000     |  $1,000,000  |  $833,333  |
|  Excessof loss coverage and facultative facility above quota sharecoverage (1) |  $9,000,000     |  $9,000,000  |  $3,666,667  |
|                                                                                |  in excess of        |  inexcess of |  inexcess of |
|                                                                                |  $1,000,000     |  $1,000,000  |  $833,333  |
|  Totalreinsurance coverage per occurrence                                      |  $9,100,000     |  $9,200,000  |  $4,000,000  |
|  Lossesper occurrence subject to reinsurance coverage                          |  $10,000,000    |  $10,000,000  |  $4,500,000  |
|  Expirationdate                                                                | June 30, 2019             |  June30, 2019  |  June30, 2017  |
|                                                                                |       |      |      |
|  PersonalUmbrella                                                              |       |      |      |
|  Quotashare treaty:                                                            |       |      |      |
|  Percentceded - first $1,000,000 of coverage                                   |   90%           |   90% |   90% |
|  Percentceded - excess of $1,000,000 dollars of coverage                       |   100%          |   100% |   100% |
|  Riskretained                                                                  |  $100,000       |  $100,000  |  $100,000  |
|  Totalreinsurance coverage per occurrence                                      |  $4,900,000     |  $4,900,000  |  $4,900,000  |
|  Lossesper occurrence subject to quota share reinsurancecoverage               |  $5,000,000     |  $5,000,000  |  $5,000,000  |
|  Expirationdate                                                                | June 30, 2019             |  June30, 2018  |  June30, 2017  |
|                                                                                |       |      |      |
| Commercial Lines:                                                                   |       |      |      |
|  Generalliability commercial policies                                          |       |      |      |
|  Quotashare treaty                                                             | None                      |  None  |  None  |
|  Riskretained                                                                  |  $750,000       |  $750,000  |  $500,000  |
|  Excessof loss coverage above risk retained                                    |  $3,750,000     |  $3,750,000  |  $4,000,000  |
|                                                                                |  in excess of        |  inexcess of |  inexcess of |
|                                                                                |  $750,000       |  $750,000  |  $500,000  |
|  Totalreinsurance coverage per occurrence                                      |  $3,750,000     |  $3,750,000  |  $4,000,000  |
|  Lossesper occurrence subject to reinsurance coverage                          |  $4,500,000     |  $4,500,000  |  $4,500,000  |
|                                                                                |       |      |      |
|  CommercialUmbrella                                                            |       |      |      |
|  Quotashare treaty:                                                            |       |      |      |
|  Percentceded - first $1,000,000 of coverage                                   |   90%           |   90% |   90% |
|  Percentceded - excess of $1,000,000 of coverage                               |   100%          |   100% |   100% |
|  Riskretained                                                                  |  $100,000       |  $100,000  |  $100,000  |
|  Totalreinsurance coverage per occurrence                                      |  $4,900,000     |  $4,900,000  |  $4,900,000  |
|  Lossesper occurrence subject to quota share reinsurancecoverage               |  $5,000,000     |  $5,000,000  |  $5,000,000  |
|  Expirationdate                                                                | June 30, 2019             |  June30, 2018  |  June30, 2017  |
|                                                                                |       |      |      |
| Catastrophe Reinsurance:                                                            |       |      |      |
| Initialloss subject to personal lines quota share treaty                            |  $5,000,000     |  $5,000,000  |  $5,000,000  |
|  Riskretained per catastrophe occurrence (2)                                   |  $4,500,000     |  $4,000,000  |  $3,000,000  |
|  Catastropheloss coverage in excess of quota share coverage (3)(4)             |  $445,000,000   |  $315,000,000  |  $247,000,000  |
|  Reinstatementpremium protection (5)                                           | Yes                       |  Yes |  Yes |

|                |   | July 1, 2018 - June 30, 2019    |
|---------------------|--------|---------------------------------|
| Treaty              |   |  Extent of Loss            |   |  Risk Retained |
| Personal Lines (1)  |   |  Initial $1,000,000        |   | $900,000 |
|                |   |  $1,000,000 - $10,000,000  |   |  None(2) |
|                |   |  Over $10,000,000          |   | 100% |
|                |   |                            |   |   |
| Personal Umbrella   |   |  Initial $1,000,000        |   | $100,000 |
|                |   |  $1,000,000 - $5,000,000   |   |  None |
|                |   |  Over $5,000,000           |   | 100% |
|                |   |                            |   |   |
| Commercial Lines    |   |  Initial $750,000          |   | $750,000 |
|                |   |  $750,000 - $4,500,000     |   |  None(3) |
|                |   |  Over $4,500,000           |   | 100% |
|                |   |                            |   |   |
| Commercial Umbrella |        |  Initial $1,000,000        |   | $100,000 |
|                |   |  $1,000,000 - $5,000,000   |   |  None |
|                |   |  Over $5,000,000           |   | 100% |
|                |   |                            |   |   |
| Catastrophe (4)     |   |  Initial $5,000,000        |   | $4,500,000 |
|                |   |  $5,000,000 - $450,000,000 |   |  None |
|                |   |  Over $450,000,000         |   | 100% |

|                |   |   July 1, 2017 - June 30, 2018 |   |   July1, 2016 - June 30, 2017 |
|---------------------|--------|------------------------------------------|--------|-----------------------------------------|
| Treaty              |   | Range of Loss                            |   | Risk Retained                           |   | Range of Loss |   | Risk Retained |
| Personal Lines (1)  |   | Initial $1,000,000                       |   | $800,000                                |   | Initial $833,333 |   | $500,000 |
|                |   | $1,000,000 - $10,000,000                 |   | None(2)                                 |   | $833,333 - $4,500,000 |   | None(3) |
|                |   | Over $10,000,000                         |   | 100%                                    |   | Over $4,500,000 |   | 100% |
|                |   |                                     |   |                                    |   |   |   |   |
| Personal Umbrella   |   | Initial $1,000,000                       |   | $100,000                                |   | Initial $1,000,000 |   | $100,000 |
|                |   | $1,000,000 - $5,000,000                  |   | None                                    |   | $1,000,000 - $5,000,000 |   | None |
|                |   | Over $5,000,000                          |   | 100%                                    |   | Over $5,000,000 |   | 100% |
|                |   |                                     |   |                                    |   |   |   |   |
| Commercial Lines    |   | Initial $750,000                         |   | $750,000                                |   | Initial $500,000 |   | $500,000 |
|                |   | $750,000 - $4,500,000                    |   | None(3)                                 |   | $500,000 - $4,500,000 |   | None(3) |
|                |   | Over $4,500,000                          |   | 100%                                    |   | Over $4,500,000 |   | 100% |
|                |   |                                     |   |                                    |   |   |   |   |
| Commercial Umbrella |   | Initial $1,000,000                       |   | $100,000                                |   | Initial $1,000,000 |   | $100,000 |
|                |   | $1,000,000 - $5,000,000                  |   | None                                    |   | $1,000,000 - $5,000,000 |   | None |
|                |   | Over $5,000,000                          |   | 100%                                    |   | Over $5,000,000 |   | 100% |
|                |   |                                     |   |                                    |   |   |   |   |
| Catastrophe (4)     |   | Initial $5,000,000                       |   | $4,000,000                              |   | Initial $5,000,000 |   | $3,000,000 |
|                |   | $5,000,000 - $320,000,000                |   | None                                    |   | $5,000,000 - $252,000,000 |   | None |
|                |   | Over $320,000,000                        |   | 100%                                    |   | Over $252,000,000 |   | 100% |

| 3(a)    |   | Restated Certificate of Incorporation, as amended (incorporated byreference to Exhibit 3(a) to the Company’s Quarterly Reporton Form 10-Q for the period ended March 31, 2014 filed on May 15,2014).                                                   |
|---------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |   |                                                                                                                                                                                                                                                          |
| 3(b)    |   | By-laws, as amended (incorporated by reference to Exhibit 3.1 tothe Company’s current Report on Form 8-K filed on November 9,2009).                                                                                                                    |
|    |   |                                                                                                                                                                                                                                                          |
| 10(a)   |   | Amendedand Restated Employment Agreement, dated as of October 16, 2018, byand between Kingstone Companies, Inc. and Barry B. Goldstein(incorporated by reference to Exhibit 10.1 to the Company’sCurrent Report on Form 8-K filed on October 22,2018). |
|    |   |                                                                                                                                                                                                                                                          |
| 10(b)   |   | EmploymentAgreement, dated as of October 16, 2018, by and between KingstoneCompanies, Inc. and Dale A. Thatcher (incorporated by reference toExhibit 10.2 to the Company’s Current Report on Form 8-Kfiled on October 22, 2018).                       |
|    |   |                                                                                                                                                                                                                                                          |
| 31(a)   |   | Rule13a-14(a)/15d-14(a) Certification of Principal Executive Officer asadopted pursuant to Section 302 of the Sarbanes-Oxley Act of2002                                                                                                                       |
|    |   |                                                                                                                                                                                                                                                          |
| 31(b)   |   | Rule13a-14(a)/15d-14(a) Certification of Principal Financial Officer asadopted pursuant to Section 302 of the Sarbanes-Oxley Act of2002                                                                                                                       |
|    |   |                                                                                                                                                                                                                                                          |
| 32      |   | Certificationof Chief Executive Officer and Chief Financial Officer Pursuant to18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of theSarbanes-Oxley Act of 2002                                                                                    |
|    |   |                                                                                                                                                                                                                                                          |
| 101.INS |   | XBRLInstance Document                                                                                                                                                                                                                                         |
|    |   |                                                                                                                                                                                                                                                          |
| 101.SCH |   | 101.SCHXBRL Taxonomy Extension Schema.                                                                                                                                                                                                                        |
|    |   |                                                                                                                                                                                                                                                          |
| 101.CAL |   | 101.CALXBRL Taxonomy Extension Calculation Linkbase.                                                                                                                                                                                                          |
|    |   |                                                                                                                                                                                                                                                          |
| 101.DEF |   | 101.DEFXBRL Taxonomy Extension Definition Linkbase.                                                                                                                                                                                                           |
|    |   |                                                                                                                                                                                                                                                          |
| 101.LAB |   | 101.LABXBRL Taxonomy Extension Label Linkbase.                                                                                                                                                                                                                |
|    |   |                                                                                                                                                                                                                                                          |
| 101.PRE |   | 101.PREXBRL Taxonomy Extension Presentation Linkbase.                                                                                                                                                                                                         |

|                   | KINGSTONECOMPANIES, INC. |                    |
|------------------------|--------------------------|-------------------------|
|                   |                     |                    |   |
| Dated: November 8,2018 | By:            | /s/ Barry B.Goldstein   |   |
|                   |                     | Barry B.Goldstein  |   |
|                   |                     | President          |   |

|                   |            |                         |
|------------------------|-----------------|------------------------------|
|                   |            |                         |   |
| Dated: November 8,2018 | By:   | /s/ VictorBrodsky            |   |
|                   |            | VictorBrodsky           |   |
|                   |            | Chief FinancialOfficer  |   |