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Federal Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

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

($ in thousands)		2019				2018			2017
Tax at statutory rate (21% in 2019 and 2018 and 35% in 2017)		$	70,642			44,461			91,689
Tax-advantaged interest		(4,909		)		(5,518	)		(11,510	)
Dividends received deduction		(443		)		(647	)		(1,961	)
Executive compensation		2,985				2,279			—
Stock-based compensation		(3,253		)		(3,093	)		(4,281	)
Tax Reform deferred tax write off		—				—			20,205
Other 1		(255		)		(4,700	)		(1,000	)
Federal income tax expense		$	64,767			32,782			93,142

Schedule of Deferred Tax Assets and Liabilities

($ in thousands)		2019				2018
Deferred tax assets:
Net loss reserve discounting		$	48,193			43,285
Net unearned premiums		57,004				53,556
Employee benefits		10,646				8,862
Long-term incentive compensation plans		5,727				9,095
Temporary investment write-downs		1,059				1,155
Other		6,478				5,744
Total deferred tax assets		129,107				121,697
Deferred tax liabilities:
Deferred policy acquisition costs		56,949				53,049
Unrealized gains on investment securities		45,294				502
Other investment-related items, net		7,576				4,904
Accelerated depreciation and amortization		12,512				9,702
Total deferred tax liabilities		122,331				68,157
Net deferred federal income tax asset		$	6,776			53,540

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

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- Definition

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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

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