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Segment Information (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Schedule of Revenue By Segment

Revenue by Segment						Quarter ended March 31,
($ in thousands)						2023						2022
Standard Commercial Lines:
Net premiums earned:
General liability						$	243,349					216,325
Commercial automobile						217,371						193,830
Commercial property						135,292						120,062
Workers compensation						84,184						84,680
Businessowners' policies						33,171						30,044
Bonds						11,397						10,360
Other						6,851						6,168
Miscellaneous income						2,181						1,101
Total Standard Commercial Lines revenue						733,796						662,570
Standard Personal Lines:
Net premiums earned:
Personal automobile						44,914						39,716
Homeowners						35,013						31,187
Other						1,943						1,739
Miscellaneous income						453						428
Total Standard Personal Lines revenue						82,323						73,070
E&S Lines:
Net premiums earned:
Casualty lines						60,817						54,624
Property lines						28,034						23,548
Total E&S Lines revenue						88,851						78,172
Investments:
Net investment income						91,506						72,602
Net realized and unrealized investment gains (losses)						3,344						(40,352)
Total Investments revenue						94,850						32,250
Total revenues						$	999,820					846,062

Schedule of Income Before and After Federal Income Tax

Income Before and After Federal Income Tax						Quarter ended March 31,
($ in thousands)						2023						2022
Standard Commercial Lines:
Underwriting income (loss), before federal income tax						$	38,921					42,384
Underwriting income (loss), after federal income tax						30,748						33,483
Combined ratio						94.7		%				93.6
ROE contribution						5.1						5.0
Standard Personal Lines:
Underwriting income (loss), before federal income tax						$	(13,073)					6,520
Underwriting income (loss), after federal income tax						(10,328)						5,151
Combined ratio						116.0		%				91.0
ROE contribution						(1.7)						0.8
E&S Lines:
Underwriting income (loss), before federal income tax						$	13,335					6,925
Underwriting income (loss), after federal income tax						10,535						5,471
Combined ratio						85.0		%				91.1
ROE contribution						1.8						0.8
Investments:
Net investment income earned						$	91,506					72,602
Net realized and unrealized investment gains (losses)						3,344						(40,352)
Total investments segment income, before federal income tax						94,850						32,250
Tax on investments segment income						19,156						5,613
Total investments segment income, after federal income tax						$	75,694					26,637
ROE contribution of after-tax net investment income earned						12.2						8.7

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)						2023						2022
Underwriting income
Standard Commercial Lines						$	38,921					42,384
Standard Personal Lines						(13,073)						6,520
E&S Lines						13,335						6,925
Investment income						94,850						32,250
Total all segments						134,033						88,079
Interest expense						(7,166)						(7,168)
Corporate expenses						(12,108)						(11,021)
Income, before federal income tax						$	114,759					69,890
Preferred stock dividends						(2,300)						(2,300)
Income available to common stockholders, before federal income tax						$	112,459					67,590

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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