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Segment Information (Tables)

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Schedule of Revenue By Segment

Revenue by Segment		Quarter ended June 30,							Six Months ended June 30,
($ in thousands)		2019				2018			2019			2018
Standard Commercial Lines:
Net premiums earned:
Commercial automobile		$	136,338			122,104			267,524			240,335
Workers compensation		78,464				80,021			157,179			158,844
General liability		164,793				153,002			326,318			302,831
Commercial property		87,136				82,162			173,203			162,488
Businessowners’ policies		26,172				25,829			52,253			51,420
Bonds		8,967				8,335			17,871			16,469
Other		4,779				4,559			9,485			8,989
Miscellaneous income		2,718				2,882			4,762			4,708
Total Standard Commercial Lines revenue		509,367				478,894			1,008,595			946,084
Standard Personal Lines:
Net premiums earned:
Personal automobile		43,388				41,810			86,551			82,252
Homeowners		32,013				32,223			64,143			64,424
Other		1,712				1,644			3,726			3,257
Miscellaneous income		335				297			611			649
Total Standard Personal Lines revenue		77,448				75,974			155,031			150,582
E&S Lines:
Net premiums earned:
Casualty lines		44,756				39,379			89,284			77,919
Property lines		14,101				13,768			27,655			27,436
Miscellaneous income		—				—			—			1
Total E&S Lines revenue		58,857				53,147			116,939			105,356
Investments:
Net investment income		58,505				45,553			109,123			88,784
Net realized and unrealized investment gains (losses)		4,027				(1,652	)		17,478			(12,201	)
Total Investments revenue		62,532				43,901			126,601			76,583
Total revenues		$	708,204			651,916			1,407,166			1,278,605

Schedule of Income Before and After Federal Income Tax

Income Before and After Federal Income Tax		Quarter ended June 30,							Six Months ended June 30,
($ in thousands)		2019				2018			2019			2018
Standard Commercial Lines:
Underwriting gain, before federal income tax		$	37,143			41,016			62,958			47,820
Underwriting gain, after federal income tax		29,343				32,403			49,737			37,778
Combined ratio		92.7		%		91.4			93.7			94.9
ROE contribution		5.9				7.8			5.2			4.5
Standard Personal Lines:
Underwriting gain, before federal income tax		$	4,538			4,805			7,705			3,299
Underwriting gain, after federal income tax		3,585				3,796			6,087			2,606
Combined ratio		94.1		%		93.7			95.0			97.8
ROE contribution		0.7				0.9			0.6			0.3
E&S Lines:
Underwriting gain (loss), before federal income tax		$	2,944			(7,789	)		7,523			(8,354	)
Underwriting gain (loss), after federal income tax		2,326				(6,154	)		5,943			(6,600	)
Combined ratio		95.0		%		114.7			93.6			107.9
ROE contribution		0.5				(1.5	)		0.6			(0.8	)
Investments:
Net investment income		$	58,505			45,553			109,123			88,784
Net realized and unrealized investment gains (losses)		4,027				(1,652	)		17,478			(12,201	)
Total investment segment income, before federal income tax		62,532				43,901			126,601			76,583
Tax on investment segment income		11,729				7,617			23,849			12,843
Total investment segment income, after federal income tax		$	50,803			36,284			102,752			63,740
ROE contribution of after-tax net investment income		9.6				9.0			9.2			8.6

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

Reconciliation of Segment Results to Income Before Federal Income Tax		Quarter ended June 30,							Six Months ended June 30,
($ in thousands)		2019				2018			2019			2018
Underwriting gain (loss)
Standard Commercial Lines		$	37,143			41,016			62,958			47,820
Standard Personal Lines		4,538				4,805			7,705			3,299
E&S Lines		2,944				(7,789	)		7,523			(8,354	)
Investment income		62,532				43,901			126,601			76,583
Total all segments		107,157				81,933			204,787			119,348
Interest expense		(7,366		)		(6,125	)		(18,892	)		(12,277	)
Corporate expenses		(9,566		)		(3,283	)		(21,976	)		(14,615	)
Income, before federal income tax		$	90,225			72,525			163,919			92,456

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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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Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information.

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