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Federal Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of Reconciliation of Federal Income Tax on Income at the Corporate Rate to the Effective Tax Rate

($ in thousands)		2016				2015			2014
Tax at statutory rate of 35%		$	76,984			81,442			68,996
Tax-advantaged interest		(12,126		)		(13,164	)		(12,926	)
Dividends received deduction		(1,114		)		(1,817	)		(1,121	)
Other		(2,284		)		370			355
Federal income tax expense from continuing operations		$	61,460			66,831			55,304

Schedule of Deferred Tax Assets and Liabilities

($ in thousands)		2016				2015
Deferred tax assets:
Net loss reserve discounting		$	70,065			74,436
Net unearned premiums		78,201				72,057
Employee benefits		17,881				30,432
Long-term incentive compensation plans		17,750				15,551
Temporary investment write-downs		2,475				5,419
Other investment related items, net		1,484				—
Net operating loss		771				1,454
Other		8,344				8,132
Total deferred tax assets		196,971				207,481
Deferred tax liabilities:
Deferred policy acquisition costs		75,310				72,481
Unrealized gains on investment securities		22,681				24,228
Other investment-related items, net		—				5,566
Accelerated depreciation and amortization		14,140				12,510
Total deferred tax liabilities		112,131				114,785
Net deferred federal income tax asset		$	84,840			92,696

Summary of Operating Loss Carryforwards

As of December 31, 2016, we had federal tax net operating loss ("NOL") carryforwards of $2.2 million. These NOLs, which are subject to an annual limitation of $1.9 million, will expire between 2030 and 2031 as follows:

($ in thousands)		Gross NOL				Tax Effected NOL
2030		$	2,124			744
2031		79				28
Total NOL carryforwards		$	2,203			772

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- References

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32687-109319

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Tabular disclosure of pertinent information, such as tax authority, amounts, and expiration dates, of net operating loss carryforwards, including an assessment of the likelihood of utilization.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32559-109319

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