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Segment Information
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Segment Information Segment Information
We evaluate the results of our four reportable segments as follows:

•Our Standard Commercial Lines, Standard Personal Lines, and E&S Lines are evaluated based on before and after-tax underwriting results (net premiums earned, incurred loss and loss expense, policyholders dividends, policy acquisition costs, and other underwriting expenses), return on equity ("ROE") contribution, and combined ratios.

•Our Investments segment is primarily evaluated after-tax net investment income and its ROE contribution. After-tax net realized and unrealized gains and losses, which are not included in non-GAAP operating income, are also included in our Investment segment results.

In computing each segment's results, we do not make adjustments for interest expense or corporate expenses. No segment has a separate investment portfolio or allocated assets.
Our combined insurance operations are subject to certain geographic concentrations, particularly in the Eastern region of the country. In 2021, approximately 18% of NPW were related to insurance policies written in New Jersey. We also had a goodwill balance of $7.8 million at both December 31, 2021 and 2020 on our Consolidated Balance Sheet that relates to our Standard Commercial Lines reporting unit.
  
The following summaries present revenues (net investment income and net realized and unrealized gains and losses on investments in the case of the Investments segment) and pre-tax income for the individual segments:
Revenue by SegmentYears ended December 31,
($ in thousands)202120202019
Standard Commercial Lines:   
Net premiums earned:   
Commercial property$436,412 388,120 353,834 
Workers compensation306,428 278,062 311,370 
General liability807,158 694,019 669,895 
Commercial automobile724,398 615,181 554,256 
Businessowners’ policies110,622 110,210 105,252 
Bonds35,762 36,742 35,726 
Other23,105 20,850 19,281 
Miscellaneous income16,056 15,512 10,889 
Total Standard Commercial Lines revenue2,459,941 2,158,696 2,060,503 
Standard Personal Lines:
Net premiums earned:
Personal automobile163,007 165,020 172,606 
Homeowners122,526 125,405 127,543 
Other8,026 8,715 7,590 
Miscellaneous income1,667 2,058 1,466 
Total Standard Personal Lines revenue295,226 301,198 309,205 
E&S Lines:
Net premiums earned:
Casualty lines197,779 174,408 182,864 
Property lines82,030 65,082 56,954 
Total E&S Lines revenue279,809 239,490 239,818 
Investments:   
Net investment income326,589 227,107 222,543 
Net realized and unrealized investment gains (losses)17,599 (4,217)14,422 
Total Investments revenues344,188 222,890 236,965 
Total revenues$3,379,164 2,922,274 2,846,491 
Income Before and After Federal Income TaxYears ended December 31,
($ in thousands)202120202019
Standard Commercial Lines:   
Underwriting income, before federal income tax$198,596 151,731 145,990 
Underwriting income, after federal income tax156,891 119,867 115,332 
Combined ratio91.9 %92.9 %92.9 %
ROE contribution5.9 %5.1 5.8 
Standard Personal Lines:
Underwriting income (loss), before federal income tax3,966 (15,508)8,260 
Underwriting income (loss), after federal income tax3,133 (12,251)6,525 
Combined ratio98.6 %105.2 %97.3 %
ROE contribution0.1 %(0.5)0.3 
E&S Lines:
Underwriting income (loss), before federal income tax16,030 126 9,743 
Underwriting income (loss), after federal income tax12,664 100 7,697 
Combined ratio94.3 %99.9 %95.9 %
ROE contribution0.5 %— 0.4 
Investments:   
Net investment income earned$326,589 227,107 222,543 
Net realized and unrealized investment gains (losses)17,599 (4,217)14,422 
Total investment segment income, before federal income tax344,188 222,890 236,965 
Tax on investment segment income67,284 41,609 45,301 
Total investment segment income, after federal income tax$276,904 181,281 191,664 
ROE contribution of after-tax net investment income earned9.9 %7.8 9.6 

Reconciliation of Segment Results to Income Before Federal Income TaxYears ended December 31,
($ in thousands)202120202019
Underwriting income (loss)
     Standard Commercial Lines $198,596 151,731 145,990 
     Standard Personal Lines 3,966 (15,508)8,260 
     E&S Lines16,030 126 9,743 
Investment income344,188 222,890 236,965 
Total all segments562,780 359,239 400,958 
Interest expense(29,165)(30,839)(33,668)
Corporate expenses(28,305)(25,412)(30,900)
Income, before federal income tax$505,310 302,988 336,390 
Preferred stock dividends(9,353)— — 
Income available to common stockholders, before federal income tax$495,957 $302,988 $336,390