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Segment Information (Tables)

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Schedule of Revenue By Segment

Revenue by Segment		Quarter ended March 31,
($ in thousands)		2019				2018
Standard Commercial Lines:
Net premiums earned:
Commercial automobile		$	131,186			118,231
Workers compensation		78,715				78,823
General liability		161,525				149,829
Commercial property		86,067				80,326
Businessowners’ policies		26,081				25,591
Bonds		8,904				8,134
Other		4,706				4,430
Miscellaneous income		2,044				1,826
Total Standard Commercial Lines revenue		499,228				467,190
Standard Personal Lines:
Net premiums earned:
Personal automobile		43,163				40,442
Homeowners		32,130				32,201
Other		2,014				1,613
Miscellaneous income		276				352
Total Standard Personal Lines revenue		77,583				74,608
E&S Lines:
Net premiums earned:
Casualty lines		44,528				38,540
Property lines		13,554				13,668
Miscellaneous income		—				1
Total E&S Lines revenue		58,082				52,209
Investments:
Net investment income		50,618				43,231
Net realized and unrealized investment gains (losses)		13,451				(10,549	)
Total Investments revenue		64,069				32,682
Total revenues		$	698,962			626,689

Schedule of Income Before and After Federal Income Tax

Income Before and After Federal Income Tax		Quarter ended March 31,
($ in thousands)		2019				2018
Standard Commercial Lines:
Underwriting gain, before federal income tax		$	25,815			6,804
Underwriting gain, after federal income tax		20,394				5,375
Combined ratio		94.8		%		98.5
ROE contribution		4.4				1.3
Standard Personal Lines:
Underwriting gain (loss), before federal income tax		$	3,167			(1,506	)
Underwriting gain (loss), after federal income tax		2,502				(1,190	)
Combined ratio		95.9		%		102.0
ROE contribution		0.5				(0.3	)
E&S Lines:
Underwriting gain (loss), before federal income tax		$	4,579			(565	)
Underwriting gain (loss), after federal income tax		3,617				(446	)
Combined ratio		92.1		%		101.1
ROE contribution		0.8				(0.1	)
Investments:
Net investment income		$	50,618			43,231
Net realized and unrealized investment gains (losses)		13,451				(10,549	)
Total investment segment income, before federal income tax		64,069				32,682
Tax on investment segment income		12,120				5,226
Total investment segment income, after federal income tax		$	51,949			27,456
ROE contribution of after-tax net investment income		8.9				8.5

Schedule of Reconciliation of Segment Results to Income Before Federal Income Tax

Reconciliation of Segment Results to Income Before Federal Income Tax		Quarter ended March 31,
($ in thousands)		2019				2018
Underwriting gain (loss)
Standard Commercial Lines		$	25,815			6,804
Standard Personal Lines		3,167				(1,506	)
E&S Lines		4,579				(565	)
Investment income		64,069				32,682
Total all segments		97,630				37,415
Interest expense		(11,526		)		(6,152	)
Corporate expenses		(12,410		)		(11,332	)
Income, before federal income tax		$	73,694			19,931

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- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

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