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Summary of Significant Accounting Policies (Tables) | 6 Months Ended
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Jun. 30, 2022
Accounting Policies [Abstract] |
Schedule of Goodwill and Intangible Assets |
|  | June 30, |  |  | December 31, |
(in thousands) |  | 2022 |  |  | 2021 |
Goodwill |  |  |  |  |  |  |  |
Surety |  | $ | 40,816 |  |  | $ | 40,816 |
Casualty |  |  | 5,246 |  |  |  | 5,246 |
Total goodwill |  | $ | 46,062 |  |  | $ | 46,062 |
Intangibles |  |  |  |  |  |  |  |
Indefinite-lived intangibles - state insurance licenses |  |  | 7,500 |  |  |  | 7,500 |
Total goodwill and intangibles |  | $ | 53,562 |  |  | $ | 53,562 |
Schedule of Reconciliation of Numerator and Denominator of the Basic and Diluted Earnings Per Share Computations |
|  | For the Three Months |  |  | For the Three Months |
|  | Ended June 30, 2022 |  |  | Ended June 30, 2021 |
|  | Income |  |  | Shares |  |  | Per Share |  |  | Income |  |  | Shares |  |  | Per Share |
(in thousands, except per share data) |  | (Numerator) |  |  | (Denominator) |  |  | Amount |  |  | (Numerator) |  |  | (Denominator) |  |  | Amount |
Basic EPS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Earnings (loss) available to common shareholders |  | $ | (2,239 | ) |  |  | 45,354 |  |  | $ | (0.05 | ) |  | $ | 81,815 |  |  |  | 45,226 |  |  | $ | 1.81 |
Effect of Dilutive Securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options and restricted stock units |  |  | — |  |  |  | — |  |  |  |  |  |  |  | — |  |  |  | 489 |  |  |  |  |
Diluted EPS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Earnings (loss) available to common shareholders |  | $ | (2,239 | ) |  |  | 45,354 |  |  | $ | (0.05 | ) |  | $ | 81,815 |  |  |  | 45,715 |  |  | $ | 1.79 |
Anti-dilutive securities excluded from diluted EPS |  |  |  |  |  |  | 736 |  |  |  |  |  |  |  |  |  |  |  | 169 |  |  |  |  |
|  | For the Six Months |  |  | For the Six Months |
|  | Ended June 30, 2022 |  |  | Ended June 30, 2021 |
|  | Income |  |  | Shares |  |  | Per Share |  |  | Income |  |  | Shares |  |  | Per Share |
(in thousands, except per share data) |  | (Numerator) |  |  | (Denominator) |  |  | Amount |  |  | (Numerator) |  |  | (Denominator) |  |  | Amount |
Basic EPS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Earnings (loss) available to common shareholders |  | $ | 45,684 |  |  |  | 45,330 |  |  | $ | 1.01 |  |  | $ | 154,827 |  |  |  | 45,202 |  |  | $ | 3.43 |
Effect of Dilutive Securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options and restricted stock units |  |  | — |  |  |  | 418 |  |  |  |  |  |  |  | — |  |  |  | 501 |  |  |  |  |
Diluted EPS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Earnings (loss) available to common shareholders |  | $ | 45,684 |  |  |  | 45,748 |  |  | $ | 1.00 |  |  | $ | 154,827 |  |  |  | 45,703 |  |  | $ | 3.39 |
Anti-dilutive securities excluded from diluted EPS |  |  |  |  |  |  | 436 |  |  |  |  |  |  |  |  |  |  |  | 169 |  |  |  |  |
Schedule of Changes in the Balance of Each Component of Accumulated Other Comprehensive Earnings (Loss) |
(in thousands) |  | For the Three Months |  |  | For the Six Months |
|  | Ended June 30, |  |  | Ended June 30, |
Unrealized Gains/Losses on Available-for-Sale Securities |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Beginning balance |  | $ | (65,755 | ) |  | $ | 63,967 |  |  | $ | 49,826 |  |  | $ | 108,714 |
Other comprehensive earnings (loss) before reclassifications |  |  | (97,894 | ) |  |  | 15,601 |  |  |  | (213,636 | ) |  |  | (28,194 | )
Amounts reclassified from accumulated other comprehensive earnings |  |  | 331 |  |  |  | (424 | ) |  |  | 492 |  |  |  | (1,376 | )
Net current-period other comprehensive earnings (loss) |  | $ | (97,563 | ) |  | $ | 15,177 |  |  | $ | (213,144 | ) |  | $ | (29,570 | )
Ending balance |  | $ | (163,318 | ) |  | $ | 79,144 |  |  | $ | (163,318 | ) |  | $ | 79,144 |
Balance of securities for which an allowance for credit losses has been recognized in net earnings |  |  |  |  |  |  |  |  |  | $ | 1,083 |  |  | $ | 321 |
Schedule of Effects of Reclassifications out of Accumulated Other Comprehensive Earnings (Loss) |
|  | Amount Reclassified from Accumulated Other |  |  |
(in thousands) |  | Comprehensive Earnings (Loss) |  |  |
|  | For the Three Months |  |  | For the Six Months |  |  |
Component of Accumulated |  | Ended June 30, |  |  | Ended June 30, |  |  | Affected line item in the
Other Comprehensive Earnings (Loss) |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |  |  | Statement of Earnings
Unrealized gains and losses on available-for-sale securities |  | $ | (722 | ) |  | $ | 366 |  |  | $ | (772 | ) |  | $ | 1,549 |  |  | Net realized gains (losses)
|  |  | 303 |  |  |  | 171 |  |  |  | 149 |  |  |  | 193 |  |  | Credit gains presented within net realized gains
|  | $ | (419 | ) |  | $ | 537 |  |  | $ | (623 | ) |  | $ | 1,742 |  |  | Earnings (loss) before income taxes
|  |  | 88 |  |  |  | (113 | ) |  |  | 131 |  |  |  | (366 | ) |  | Income tax (expense) benefit
|  | $ | (331 | ) |  | $ | 424 |  |  | $ | (492 | ) |  | $ | 1,376 |  |  | Net earnings (loss)

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