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Segment Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of Revenue from Continuing Operations By Segment

Revenue by Segment						Years ended December 31,
($ in thousands)						2022						2021						2020
Standard Commercial Lines:
Net premiums earned:
General liability						$	902,428					807,158						694,019
Commercial automobile						812,306						724,398						615,181
Commercial property						495,647						436,412						388,120
Workers compensation						335,955						306,428						278,062
Businessowners’ policies						124,474						110,622						110,210
Bonds						43,354						35,762						36,742
Other						25,655						23,105						20,850
Miscellaneous income						9,519						16,056						15,512
Total Standard Commercial Lines revenue						2,749,338						2,459,941						2,158,696
Standard Personal Lines:
Net premiums earned:
Personal automobile						162,899						163,007						165,020
Homeowners						128,222						122,526						125,405
Other						8,284						8,026						8,715
Miscellaneous income						1,816						1,667						2,058
Total Standard Personal Lines revenue						301,221						295,226						301,198
E&S Lines:
Net premiums earned:
Casualty lines						233,086						197,779						174,408
Property lines						101,070						82,030						65,082
Total E&S Lines revenue						334,156						279,809						239,490
Investments:
Net investment income						288,155						326,589						227,107
Net realized and unrealized investment (losses) gains						(114,808)						17,599						(4,217)
Total Investments revenues						173,347						344,188						222,890
Total revenues						$	3,558,062					3,379,164						2,922,274

Schedule of Income from Continuing Operations before and after Federal Income Tax

Income Before and After Federal Income Tax						Years ended December 31,
($ in thousands)						2022						2021						2020
Standard Commercial Lines:
Underwriting income, before federal income tax						$	143,696					198,596						151,731
Underwriting income, after federal income tax						113,520						156,891						119,867
Combined ratio						94.8		%				91.9		%				92.9		%
ROE contribution						4.6		%				5.9						5.1
Standard Personal Lines:
Underwriting income (loss), before federal income tax						(7,193)						3,966						(15,508)
Underwriting income (loss), after federal income tax						(5,682)						3,133						(12,251)
Combined ratio						102.4		%				98.6		%				105.2		%
ROE contribution						(0.2)		%				0.1						(0.5)
E&S Lines:
Underwriting income, before federal income tax						30,299						16,030						126
Underwriting income, after federal income tax						23,936						12,664						100
Combined ratio						90.9		%				94.3		%				99.9		%
ROE contribution						1.0		%				0.5						—
Investments:
Net investment income earned						$	288,155					326,589						227,107
Net realized and unrealized investment (losses) gains						(114,808)						17,599						(4,217)
Total investment segment income, before federal income tax						173,347						344,188						222,890
Tax on investment segment income						31,846						67,284						41,609
Total investment segment income, after federal income tax						$	141,501					276,904						181,281
ROE contribution of after-tax net investment income earned						9.4		%				9.9						7.8

Schedule of Reconciliation of Segment Results to Income From Continuing Operations, Before Federal Income Tax

Reconciliation of Segment Results to Income Before Federal Income Tax						Years ended December 31,
($ in thousands)						2022						2021						2020
Underwriting income (loss)
Standard Commercial Lines						$	143,696					198,596						151,731
Standard Personal Lines						(7,193)						3,966						(15,508)
E&S Lines						30,299						16,030						126
Investment income						173,347						344,188						222,890
Total all segments						340,149						562,780						359,239
Interest expense						(28,847)						(29,165)						(30,839)
Corporate expenses						(31,116)						(28,305)						(25,412)
Income, before federal income tax						$	280,186					505,310						302,988
Preferred stock dividends						(9,200)						(9,353)						—
Income available to common stockholders, before federal income tax						$	270,986					$	495,957					$	302,988

X

- 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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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.

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