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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
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) |  | 2024 |  | 2023 |  | 2022
Current |  | $ | 93,914 |  |  | $ | 139,859 |  |  | $ | 98,666 |
Deferred |  | 32,174 |  |  | (13,246) |  |  | 58,168 |
Total income tax expense |  | $ | 126,088 |  |  | $ | 126,613 |  |  | $ | 156,834 |
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:
|  | 2024 |  | 2023 |  | 2022
($ in thousands) |  | $ |  | % of pretax income |  | $ |  | % of pretax income |  | $ |  | % of pretax income
Tax provision at weighted average statutory rates |  | $ | 121,227 |  |  | 14.2 | % |  | $ | 116,389 |  |  | 14.1 | % |  | $ | 148,176 |  |  | 15.0 | %
State taxes, net of federal benefit |  | 4,478 |  |  | 0.5 |  |  | 4,872 |  |  | 0.6 |  |  | 6,306 |  |  | 0.6 |
Non-deductible expenses |  | 3,542 |  |  | 0.4 |  |  | 4,501 |  |  | 0.5 |  |  | 4,041 |  |  | 0.4 |
Tax exempt interest, net of proration |  | (1,357) |  |  | (0.2) |  |  | (1,551) |  |  | (0.2) |  |  | (1,463) |  |  | (0.1) |
Excess tax (benefit) deficit from stock-based compensation |  | (668) |  |  | (0.1) |  |  | 145 |  |  | — |  |  | 75 |  |  | — |
Other |  | (1,134) |  |  | (0.1) |  |  | 2,257 |  |  | 0.4 |  |  | (301) |  |  | 0.0 |
Total income tax expense |  | $ | 126,088 |  |  | 14.7 | % |  | $ | 126,613 |  |  | 15.4 | % |  | $ | 156,834 |  |  | 15.9 | %
Schedule of Net Deferred Tax (Liability) Asset and Components | The net deferred tax liability was comprised of the following at December 31:
(In thousands) |  | 2024 |  | 2023
Deferred tax assets |  | $ | 81,769 |  |  | $ | 75,864 |
Deferred tax liabilities |  | (474,197) |  |  | (438,617) |
Net deferred tax liability |  | $ | (392,428) |  |  | $ | (362,753) |
The components of the net deferred tax liability were as follows at December 31:
(In thousands) |  | 2024 |  | 2023
Contingency reserves |  | $ | (459,555) |  |  | $ | (425,360) |
Unrealized (gain) loss on investments |  | 47,725 |  |  | 45,226 |
Unearned premium reserve |  | 12,318 |  |  | 11,978 |
Investments in limited partnerships |  | (12,918) |  |  | (11,258) |
Accrued expenses |  | 7,521 |  |  | 6,404 |
Fixed assets |  | 5,445 |  |  | 4,433 |
Unearned ceding commissions |  | 1,610 |  |  | 2,066 |
Change in fair market value of derivatives |  | 2,436 |  |  | 1,972 |
Deferred policy acquisition costs |  | (1,450) |  |  | (1,779) |
Nonvested shares |  | 2,807 |  |  | 1,938 |
Loss reserves |  | 1,295 |  |  | 1,033 |
Start-up expenditures, net |  | 722 |  |  | 884 |
Impairments on available-for-sale investment securities |  | — |  |  | 38 |
Prepaid expenses |  | (255) |  |  | (220) |
Other |  | (129) |  |  | (108) |
Net deferred tax liability |  | $ | (392,428) |  |  | $ | (362,753) |

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