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Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2020

Defined Benefit Plan Disclosure [Line Items]

Schedule of Funded Status Of Retirement Income Plan And Retirement Life Plan

December 31,						Pension Plan
($ in thousands)						2020						2019
Change in Benefit Obligation:
Benefit obligation, beginning of year						$	391,021					334,679
Interest cost						11,312						13,506
Actuarial losses						35,276						54,478
Benefits paid						(12,448)						(11,642)
Benefit obligation, end of year						$	425,161					391,021
Change in Fair Value of Assets:
Fair value of assets, beginning of year						$	385,087					331,680
Actual return on plan assets, net of expenses						60,077						63,949
Contributions by the employer to funded plans						—						1,100
Benefits paid						(12,448)						(11,642)
Fair value of assets, end of year						$	432,716					385,087
Funded status						$	7,555					(5,934)

Schedule of Amounts Recognized in Consolidated Balance Sheet

Amounts Recognized in the Consolidated Balance Sheet:
Assets						$	7,555					—
Liabilities						—						(5,934)
Net pension assets (liabilities), end of year						$	7,555					(5,934)

Schedule of Amounts recognized in Accumulated Other than Comprehensive Income

Amounts Recognized in AOCI:
Net actuarial loss						$	101,414					107,125

Schedule of Other Information as of December 31

Other Information as of December 31:
Accumulated benefit obligation						$	425,161					391,021

Schedule of Components Of Net Periodic Benefit Cost And Other Amounts Recognized In Other Comprehensive Income

						Pension Plan
($ in thousands)						2020						2019						2018
Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income:
Net Periodic Benefit Cost (Benefit):
Interest cost						$	11,312					13,506						12,428
Expected return on plan assets						(21,907)						(21,114)						(22,767)
Amortization of unrecognized actuarial loss						2,817						2,575						1,981
Total net periodic pension cost (benefit)1						$	(7,778)					(5,033)						(8,358)
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income:
Net actuarial (gain) loss						$	(2,894)					11,643						12,600
Reversal of amortization of net actuarial loss						(2,817)						(2,575)						(1,981)
Total recognized in other comprehensive income						$	(5,711)					9,068						10,619
Total recognized in net periodic benefit cost and other comprehensive income						$	(13,489)					4,035						2,261

Schedule Of Weighted- Average Expense and Liability Assumptions

Weighted-Average Liability Assumptions as of December 31:
Discount rate						2.68		%				3.33

						Pension Plan
						2020						2019						2018
Weighted-Average Expense Assumptions for the years ended December 31:
Discount rate						3.33		%				4.46						3.78
Expected return on plan assets						5.80						6.50						6.36

Schedule of Allocation of Plan Assets

						2020															2019
						Target Percentage									Actual Percentage						Actual Percentage
						Minimum			Maximum
Return seeking assets1						50		%	70%						64		%				59		%
Liability hedging assets						70		%	80%						35		%				38		%
Short-term investments						-			-						1		%				3		%
Total						100		%	100		%				100		%				100		%

Schedule of Quantitative Disclosures of our Financial Assets that were Measured at Fair Value

December 31, 2020												Fair Value Measurements Using
($ in thousands)						Assets Measured at Fair Value						Quoted Prices in Active Markets for Identical Assets/ Liabilities (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Description
Measured on a recurring basis:
AFS fixed income securities:
U.S. government and government agencies						$	116,140					40,960						75,180						—
Foreign government						18,366						—						18,366						—
Obligations of states and political subdivisions						1,247,137						—						1,244,243						2,894
Corporate securities						2,328,052						—						2,257,352						70,700
CLO and other ABS						1,026,551						—						970,176						56,375
RMBS						1,051,788						—						1,051,788						—
CMBS						667,894						—						667,894						—
Total AFS fixed income securities						6,455,928						40,960						6,284,999						129,969
Equity securities:
Common stock1						308,632						261,846						—						—
Preferred stock						1,735						1,735						—						—
Total equity securities						310,367						263,581						—						—
Short-term investments						409,852						405,400						4,452						—
Total assets measured at fair value						$	7,176,147					709,941						6,289,451						129,969

December 31, 2019												Fair Value Measurements Using
($ in thousands)						Assets Measured at Fair Value						Quoted Prices in Active Markets for Identical Assets/ Liabilities (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Description
Measured on a recurring basis:
AFS fixed income securities:
U.S. government and government agencies						$	116,186					41,083						75,103						—
Foreign government						18,542						—						18,542						—
Obligations of states and political subdivisions						1,230,090						—						1,230,090						—
Corporate securities						1,947,477						—						1,930,426						17,051
CLO and other ABS						793,012						3,635						772,343						17,034
RMBS						1,451,969						—						1,451,969						—
CMBS						538,344						—						538,344						—
Total AFS fixed income securities						6,095,620						44,718						6,016,817						34,085
Equity securities:
Common stock1						69,900						32,145						—						—
Preferred stock						3,037						3,037						—						—
Total equity securities						72,937						35,182						—						—
Short-term investments						282,490						265,306						17,184						—
Total assets measured at fair value						$	6,451,047					345,206						6,034,001						34,085

1Investments amounting to $46.8 million and $37.8 million at December 31, 2020 and December 31, 2019, respectively, were measured at fair value using the net asset value per share (or its practical expedient) and have not been classified in the fair value hierarchy. These investments are not redeemable and the timing of liquidations of the underlying assets is unknown at each reporting period. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to total assets measured at fair value.

Schedule of Expected Benefit Payments

Payments

($ in thousands)						Pension Plan
Benefits Expected to be Paid in Future
Fiscal Years:
2021						$	14,658
2022						15,213
2023						16,408
2024						17,439
2025						18,440
2026-2030						105,076

Retirement Income Plan [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule of Quantitative Disclosures of our Financial Assets that were Measured at Fair Value

December 31, 2020												Fair Value Measurements at 12/31/20 Using
($ in thousands)						Assets Measured at Fair Value At 12/31/20						Quoted Prices in Active Markets for Identical Assets/ Liabilities (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Description
Return seeking assets:
Equities:
Global equity						$	142,320					142,320						—						—
Diversified credit						73,762						73,762						—						—
Real assets						61,585						61,585						—						—
Total equities						277,667						277,667						—						—
Limited partnerships (at net asset value)1:
Real assets						73						—						—						—
Private equity						400						—						—						—
Private credit						29						—						—						—
Total limited partnerships						502						—						—						—
Total return seeking assets						278,169						277,667						—						—
Liability hedging assets:
Fixed income						99,490						99,490						—						—
U.S. Treasury overlay						52,756						52,756						—						—
Total liability hedging assets						152,246						152,246						—						—
Cash and short-term investments:
Short-term investments						3,273						3,273						—						—
Deposit administration contracts						2,073						—						2,073						—
Total cash and short-term investments						5,346						3,273						2,073						—
Total invested assets						$	435,761					433,186						2,073						—

December 31, 2019												Fair Value Measurements at 12/31/19 Using
($ in thousands)						Assets Measured at Fair Value At 12/31/19						Quoted Prices in Active Markets for Identical Assets/ Liabilities (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Description
Return seeking assets:
Equities:
Global equity						$	113,212					$	113,212					—						—
Diversified credit						59,009						59,009						—						—
Real assets						57,414						57,414						—						—
Total equities						229,635						229,635						—						—
Limited partnerships (at net asset value)1:
Real assets						228						—						—						—
Private equity						583						—						—						—
Private credit						43						—						—						—
Total limited partnerships						854						—						—						—
Total return seeking assets						230,489						229,635						—						—
Liability hedging assets:
Fixed income						114,395						114,395						—						—
U.S. Treasury overlay						30,997						30,997						—						—
Total liability hedging assets						145,392						145,392						—						—
Cash and short-term investments:
Short-term investments						8,824						8,824						—						—
Deposit administration contracts						2,215						—						2,215						—
Total cash and short-term investments						11,039						8,824						2,215						—
Total invested assets						$	386,920					383,851						2,215						—

1In accordance with ASU 2015-07, certain investments that are measured at fair value using the net asset value per share (or its practical expedient) have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to total Pension Plan invested assets.

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