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Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Revenue from Continuing Operations By Segment

Revenue by Segment						Years ended December 31,
($ in thousands)						2023						2022						2021
Standard Commercial Lines:
Net premiums earned:
General liability						$	1,020,362					902,428						807,158
Commercial automobile						916,140						812,306						724,398
Commercial property						586,267						495,647						436,412
Workers compensation						333,669						335,955						306,428
Businessowners’ policies						140,547						124,474						110,622
Bonds						46,215						43,354						35,762
Other						28,584						25,655						23,105
Miscellaneous income						17,168						9,519						16,056
Total Standard Commercial Lines revenue						3,088,952						2,749,338						2,459,941
Standard Personal Lines:
Net premiums earned:
Personal automobile						200,027						162,899						163,007
Homeowners						154,828						128,222						122,526
Other						10,358						8,284						8,026
Miscellaneous income						2,201						1,816						1,667
Total Standard Personal Lines revenue						367,414						301,221						295,226
E&S Lines:
Net premiums earned:
Casualty lines						261,144						233,086						197,779
Property lines						129,465						101,070						82,030
Miscellaneous income						33						—						—
Total E&S Lines revenue						390,642						334,156						279,809
Investments:
Net investment income						388,650						288,155						326,589
Net realized and unrealized investment gains (losses)						(3,552)						(114,808)						17,599
Total Investments revenues						385,098						173,347						344,188
Total revenues						$	4,232,106					3,558,062						3,379,164

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)						2023						2022						2021
Standard Commercial Lines:
Underwriting income (loss), before federal income tax						$	157,306					143,696						198,596
Underwriting income (loss), after federal income tax						124,272						113,520						156,891
Combined ratio						94.9		%				94.8		%				91.9		%
ROE contribution						5.0		%				4.6						5.9
Standard Personal Lines:
Underwriting income (loss), before federal income tax						(79,263)						(7,193)						3,966
Underwriting income (loss), after federal income tax						(62,618)						(5,682)						3,133
Combined ratio						121.7		%				102.4		%				98.6		%
ROE contribution						(2.5)		%				(0.2)						0.1
E&S Lines:
Underwriting income (loss), before federal income tax						54,756						30,299						16,030
Underwriting income (loss), after federal income tax						43,257						23,936						12,664
Combined ratio						86.0		%				90.9		%				94.3		%
ROE contribution						1.7		%				1.0		%				0.5
Investments:
Net investment income earned						$	388,650					288,155						326,589
Net realized and unrealized investment gains (losses)						(3,552)						(114,808)						17,599
Total investment segment income, before federal income tax						385,098						173,347						344,188
Tax on investment segment income						78,369						31,846						67,284
Total investment segment income, after federal income tax						$	306,729					141,501						276,904
ROE contribution of after-tax net investment income earned						12.4		%				9.4						9.9

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)						2023						2022						2021
Underwriting income (loss)
Standard Commercial Lines						$	157,306					143,696						198,596
Standard Personal Lines						(79,263)						(7,193)						3,966
E&S Lines						54,756						30,299						16,030
Investment income						385,098						173,347						344,188
Total all segments						$	517,897					340,149						562,780
Interest expense						(28,799)						(28,847)						(29,165)
Corporate expenses						(30,686)						(31,116)						(28,305)
Income, before federal income tax						$	458,412					280,186						505,310
Preferred stock dividends						(9,200)						(9,200)						(9,353)
Income available to common stockholders, before federal income tax						$	449,212					$	270,986					$	495,957

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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