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v3.22.1

Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2022
Segment Reporting [Abstract] |
Schedule of Revenue By Segment |
Revenue by Segment |  | Quarter ended March 31, |  |
($ in thousands) |  | 2022 |  | 2021 |  |  |  |
Standard Commercial Lines: |  |  |  |  |  |  |  |
Net premiums earned: |  |  |  |  |  |  |  |
General liability |  | $ | 216,325 |  |  | 193,520 |  |  |  |  |
Commercial automobile |  | 193,830 |  |  | 171,881 |  |  |  |  |
Commercial property |  | 120,062 |  |  | 102,810 |  |  |  |  |
Workers compensation |  | 84,680 |  |  | 78,190 |  |  |  |  |
Businessowners' policies |  | 30,044 |  |  | 28,627 |  |  |  |  |
Bonds |  | 10,360 |  |  | 8,593 |  |  |  |  |
Other |  | 6,168 |  |  | 5,520 |  |  |  |  |
Miscellaneous income |  | 1,101 |  |  | 3,707 |  |  |  |  |
Total Standard Commercial Lines revenue |  | 662,570 |  |  | 592,848 |  |  |  |  |
Standard Personal Lines: |  |  |  |  |  |  |  |
Net premiums earned: |  |  |  |  |  |  |  |
Personal automobile |  | 39,716 |  |  | 41,393 |  |  |  |  |
Homeowners |  | 31,187 |  |  | 30,598 |  |  |  |  |
Other |  | 1,739 |  |  | 1,830 |  |  |  |  |
Miscellaneous income |  | 428 |  |  | 405 |  |  |  |  |
Total Standard Personal Lines revenue |  | 73,070 |  |  | 74,226 |  |  |  |  |
E&S Lines: |  |  |  |  |  |  |  |
Net premiums earned: |  |  |  |  |  |  |  |
Casualty lines |  | 54,624 |  |  | 43,833 |  |  |  |  |
Property lines |  | 23,548 |  |  | 18,165 |  |  |  |  |
Total E&S Lines revenue |  | 78,172 |  |  | 61,998 |  |  |  |  |
Investments: |  |  |  |  |  |  |  |
Net investment income |  | 72,602 |  |  | 69,716 |  |  |  |  |
Net realized and unrealized investment (losses) gains |  | (40,352) |  |  | 5,119 |  |  |  |  |
Total Investments revenue |  | 32,250 |  |  | 74,835 |  |  |  |  |
Total revenues |  | $ | 846,062 |  |  | 803,907 |  |  |  |  |
Schedule of Income Before and After Federal Income Tax |
Income Before and After Federal Income Tax |  | Quarter ended March 31, |  |
($ in thousands) |  | 2022 |  | 2021 |  |  |  |
Standard Commercial Lines: |  |  |  |  |  |  |  |
Underwriting income, before federal income tax |  | $ | 42,384 |  |  | 69,499 |  |  |  |  |
Underwriting income, after federal income tax |  | 33,483 |  |  | 54,904 |  |  |  |  |
Combined ratio |  | 93.6 | % |  | 88.2 |  |  |  |  |
ROE contribution |  | 5.0 |  |  | 8.6 |  |  |  |  |
Standard Personal Lines: |  |  |  |  |  |  |  |
Underwriting income, before federal income tax |  | $ | 6,520 |  |  | 7,695 |  |  |  |  |
Underwriting income, after federal income tax |  | 5,151 |  |  | 6,079 |  |  |  |  |
Combined ratio |  | 91.0 | % |  | 89.6 |  |  |  |  |
ROE contribution |  | 0.8 |  |  | 1.0 |  |  |  |  |
E&S Lines: |  |  |  |  |  |  |  |
Underwriting income, before federal income tax |  | $ | 6,925 |  |  | 516 |  |  |  |  |
Underwriting income, after federal income tax |  | 5,471 |  |  | 408 |  |  |  |  |
Combined ratio |  | 91.1 | % |  | 99.2 |  |  |  |  |
ROE contribution |  | 0.8 |  |  | 0.1 |  |  |  |  |
Investments: |  |  |  |  |  |  |  |
Net investment income |  | $ | 72,602 |  |  | 69,716 |  |  |  |  |
Net realized and unrealized investment (losses) gains |  | (40,352) |  |  | 5,119 |  |  |  |  |
Total investments segment income, before federal income tax |  | 32,250 |  |  | 74,835 |  |  |  |  |
Tax on investments segment income |  | 5,613 |  |  | 14,448 |  |  |  |  |
Total investments segment income, after federal income tax |  | $ | 26,637 |  |  | 60,387 |  |  |  |  |
ROE contribution of after-tax net investment income earned |  | 8.7 |  |  | 8.9 |  |  |  |  |
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) |  | 2022 |  | 2021 |  |  |  |
Underwriting income |  |  |  |  |  |  |  |
Standard Commercial Lines |  | $ | 42,384 |  |  | 69,499 |  |  |  |  |
Standard Personal Lines |  | 6,520 |  |  | 7,695 |  |  |  |  |
E&S Lines |  | 6,925 |  |  | 516 |  |  |  |  |
Investment income |  | 32,250 |  |  | 74,835 |  |  |  |  |
Total all segments |  | 88,079 |  |  | 152,545 |  |  |  |  |
Interest expense |  | (7,168) |  |  | (7,359) |  |  |  |  |
Corporate expenses |  | (11,021) |  |  | (9,554) |  |  |  |  |
Income, before federal income tax |  | $ | 69,890 |  |  | 135,632 |  |  |  |  |
Preferred stock dividends |  | (2,300) |  |  | (2,453) |  |  |  |  |
Income available to common stockholders, before federal income tax |  | $ | 67,590 |  |  | 133,179 |  |  |  |  |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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