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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense | Income tax expense which is generated in the U.S. consists of the following components for the years ended December 31:
(In thousands) |  | 2023 |  | 2022 |  | 2021
Current |  | $ | 139,859 |  |  | $ | 98,666 |  |  | $ | 56,509 |
Deferred |  | (13,246) |  |  | 58,168 |  |  | 84,022 |
Total income tax expense |  | $ | 126,613 |  |  | $ | 156,834 |  |  | $ | 140,531 |
Schedule of Reconciliation of Difference between Income Tax Expense and Expected Tax Provision at Weighted Average Tax Rate | The reconciliation of the difference between income tax expense and the expected tax provision at the weighted average tax rate was as follows for the years ended December 31:
|  | 2023 |  | 2022 |  | 2021
($ in thousands) |  | $ |  | % of pretax income |  | $ |  | % of pretax income |  | $ |  | % of pretax income
Tax provision at weighted average statutory rates |  | $ | 116,389 |  |  | 14.1 | % |  | $ | 148,176 |  |  | 15.0 | % |  | $ | 127,046 |  |  | 15.5 | %
State taxes, net of federal benefit |  | 4,872 |  |  | 0.6 |  |  | 6,306 |  |  | 0.6 |  |  | 11,295 |  |  | 1.4 |
Non-deductible expenses |  | 4,501 |  |  | 0.5 |  |  | 4,041 |  |  | 0.4 |  |  | 3,652 |  |  | 0.4 |
Tax exempt interest, net of proration |  | (1,551) |  |  | (0.2) |  |  | (1,463) |  |  | (0.1) |  |  | (1,606) |  |  | (0.2) |
Excess tax (benefit) deficit from stock-based compensation |  | 145 |  |  | 0.0 |  |  | 75 |  |  | — |  |  | 61 |  |  | — |
Other |  | 2,257 |  |  | 0.4 |  |  | (301) |  |  | 0.0 |  |  | 83 |  |  | 0.0 |
Total income tax expense |  | $ | 126,613 |  |  | 15.4 | % |  | $ | 156,834 |  |  | 15.9 | % |  | $ | 140,531 |  |  | 17.1 | %
Schedule of Net Deferred Tax (Liability) Asset and Components | The net deferred tax liability was comprised of the following at December 31:
(In thousands) |  | 2023 |  | 2022
Deferred tax assets |  | $ | 75,864 |  |  | $ | 91,729 |
Deferred tax liabilities |  | (438,617) |  |  | (448,539) |
Net deferred tax liability |  | $ | (362,753) |  |  | $ | (356,810) |
The components of the net deferred tax liability were as follows at December 31:
(In thousands) |  | 2023 |  | 2022
Contingency reserves |  | $ | (425,360) |  |  | $ | (432,265) |
Unrealized (gain) loss on investments |  | 45,226 |  |  | 60,439 |
Unearned premium reserve |  | 11,978 |  |  | 14,099 |
Investments in limited partnerships |  | (11,258) |  |  | (13,907) |
Accrued expenses |  | 6,404 |  |  | 6,257 |
Fixed assets |  | 4,433 |  |  | 1,197 |
Unearned ceding commissions |  | 2,066 |  |  | 2,363 |
Change in fair market value of derivatives |  | 1,972 |  |  | 2,377 |
Deferred policy acquisition costs |  | (1,779) |  |  | (2,152) |
Nonvested shares |  | 1,938 |  |  | 1,640 |
Loss reserves |  | 1,033 |  |  | 965 |
Start-up expenditures, net |  | 884 |  |  | 1,233 |
Impairments on available-for-sale investment securities |  | 38 |  |  | 1,155 |
Prepaid expenses |  | (220) |  |  | (156) |
Other |  | (108) |  |  | (55) |
Net deferred tax liability |  | $ | (362,753) |  |  | $ | (356,810) |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
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