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Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2023

Defined Benefit Plan Disclosure [Line Items]

Schedule of Funded Status Of Retirement Income Plan And Retirement Life Plan

December 31,						Pension Plan
($ in thousands)						2023						2022
Change in Benefit Obligation:
Benefit obligation, beginning of year						$	311,945					407,758
Interest cost						15,465						9,944
Actuarial gains						12,890						(91,653)
Benefits paid						(14,824)						(14,104)
Benefit obligation, end of year						$	325,476					311,945
Change in Fair Value of Assets:
Fair value of assets, beginning of year						$	342,974					450,305
Actual return on plan assets, net of expenses						16,982						(93,227)
Benefits paid						(14,824)						(14,104)
Fair value of assets, end of year						$	345,132					342,974
Funded status						$	19,656					31,029

Schedule of Amounts Recognized in Consolidated Balance Sheet

Amounts Recognized in the Consolidated Balance Sheet:
Net pension assets, end of year						$	19,656					31,029

Schedule of Amounts recognized in Accumulated Other than Comprehensive Income

Amounts Recognized in AOCI:
Net actuarial loss						$	116,558					100,561

Schedule of Other Information as of December 31

Other Information as of December 31:
Accumulated benefit obligation						$	325,476					311,945

Schedule of Components Of Net Periodic Benefit Cost And Other Amounts Recognized In Other Comprehensive Income

						Pension Plan
($ in thousands)						2023						2022						2021
Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income:
Net Periodic Benefit Cost (Benefit):
Interest cost						$	15,465					9,944						8,593
Expected return on plan assets						(23,091)						(22,147)						(22,976)
Amortization of unrecognized actuarial loss						3,001						1,465						2,501
Total net periodic pension cost (benefit)1						$	(4,625)					(10,738)						(11,882)
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income:
Net actuarial loss (gain)						$	18,998					23,722						(20,609)
Reversal of amortization of net actuarial loss						(3,001)						(1,465)						(2,501)
Total recognized in other comprehensive income						$	15,997					22,257						(23,110)
Total recognized in net periodic benefit cost and other comprehensive income						$	11,372					11,519						(34,992)

1The components of net periodic pension cost (benefit) are included within "Loss and loss expense incurred" and "Other insurance expenses" on the Consolidated Statements of Income.

Schedule Of Weighted- Average Expense and Liability Assumptions

Weighted-Average Liability Assumptions as of December 31:
Discount rate						5.02		%				5.21

						Pension Plan
						2023						2022						2021
Weighted-Average Expense Assumptions for the years ended December 31:
Discount rate						5.21		%				2.98		%				2.68		%
Interest rate						5.09		%				2.48		%				2.06		%
Expected return on plan assets						6.90						5.00						5.40

Schedule of Allocation of Plan Assets

						2023															2022
						Target Percentage									Actual Percentage						Actual Percentage
						Minimum			Maximum
Return seeking assets1						28		%	58		%				52		%				71		%
Liability hedging assets						42		%	72		%				45		%				27		%
Short-term investments						-			-						3		%				2		%
Total															100		%				100		%

Schedule of Quantitative Disclosures of our Pension Assets that were Measured at Fair Value

December 31, 2023												Fair Value Measurements Using
($ in thousands)						Assets Measured at Fair Value						Quoted Prices in Active Markets for Identical Assets/ Liabilities (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs  (Level 3)
Description
Measured on a recurring basis:
AFS fixed income securities:
U.S. government and government agencies						$	205,035					34,056						170,979						—
Foreign government						9,803						—						9,803						—
Obligations of states and political subdivisions						585,965						—						578,131						7,834
Corporate securities						2,711,239						—						2,413,907						297,332
CLO and other ABS						1,834,827						—						1,589,514						245,313
RMBS						1,477,483						—						1,477,483						—
CMBS						674,845						—						674,489						356
Total AFS fixed income securities						7,499,197						34,056						6,914,306						550,835
Equity securities:
Common stock1						185,339						20,582						—						854
Preferred stock						1,816						1,816						—						—
Total equity securities						187,155						22,398						—						854
Short-term investments						309,317						308,512						805						—
Total assets measured at fair value						$	7,995,669					364,966						6,915,111						551,689

December 31, 2022												Fair Value Measurements Using
($ in thousands)						Assets Measured at Fair Value						Quoted Prices in Active Markets for Identical Assets/ Liabilities (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs  (Level 3)
Description
Measured on a recurring basis:
AFS fixed income securities:
U.S. government and government agencies						$	189,239					109,240						79,999						—
Foreign government						9,608						—						9,608						—
Obligations of states and political subdivisions						918,018						—						911,357						6,661
Corporate securities						2,335,025						—						2,147,045						187,980
CLO and other ABS						1,485,973						—						1,332,631						153,342
RMBS						1,059,832						—						1,059,832						—
CMBS						614,412						—						614,037						375
Total AFS fixed income securities						6,612,107						109,240						6,154,509						348,358
Equity securities:
Common stock1						160,355						55,846						—						897
Preferred stock						1,645						1,645						—						—
Total equity securities						162,000						57,491						—						897
Short-term investments						440,456						418,199						22,257						—
Total assets measured at fair value						$	7,214,563					584,930						6,176,766						349,255

1Investments amounting to $163.9 million at December 31, 2023 and $103.6 million at December 31, 2022, were measured at fair value using the net asset value per share (or its practical expedient) and have not been classified in the fair value hierarchy. These investments are not redeemable and the timing of liquidations of the underlying assets is unknown at each reporting period. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to total assets measured at fair value.

Schedule of Expected Benefit Payments

Payments

($ in thousands)						Pension Plan
Benefits Expected to be Paid in Future
Fiscal Years:
2024						$	17,750
2025						17,854
2026						18,930
2027						19,922
2028						20,846
2029-2033						113,137

Retirement Income Plan [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule of Quantitative Disclosures of our Pension Assets that were Measured at Fair Value

December 31, 2023												Fair Value Measurements at 12/31/23 Using
($ in thousands)						Assets Measured at Fair Value At 12/31/2023						Quoted Prices in Active Markets for Identical Assets/ Liabilities (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Description
Return seeking assets:
Equities:
Global equity						$	39,038					39,038						—						—
Diversified credit						42,630						42,630						—						—
Real assets						59,603						59,603						—						—
Liquid diversifiers1						40,095						40,095						—						—
Total equities						181,366						181,366						—						—
Limited partnerships (at net asset value)2:
Real assets						27						—						—						—
Private equity						311						—						—						—
Total limited partnerships						338						—						—						—
Total return seeking assets						181,704						181,366						—						—
Liability hedging assets:
Fixed income						79,632						79,632						—						—
U.S. Treasury overlay						75,198						75,198						—						—
Total liability hedging assets						154,830						154,830						—						—
Cash and short-term investments:
Short-term investments						9,015						9,015						—						—
Deposit administration contracts						2,391						—						2,391						—
Total cash and short-term investments						11,406						9,015						2,391						—
Total invested assets						$	347,940					345,211						2,391						—

December 31, 2022												Fair Value Measurements at 12/31/22 Using
($ in thousands)						Assets Measured at Fair Value At 12/31/2022						Quoted Prices in Active Markets for Identical Assets/ Liabilities (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Description
Return seeking assets:
Equities:
Global equity						$	63,852					63,852						—						—
Diversified credit						58,761						58,761						—						—
Real assets						95,396						95,396						—						—
Liquid diversifiers1						23,978						23,978						—						—
Total equities						241,987						241,987						—						—
Limited partnerships (at net asset value)2:
Real assets						27						—						—						—
Private equity						331						—						—						—
Total limited partnerships						358						—						—						—
Total return seeking assets						242,345						241,987						—						—
Liability hedging assets:
Fixed income						35,378						35,378						—						—
U.S. Treasury overlay						56,255						56,255						—						—
Total liability hedging assets						91,633						91,633						—						—
Cash and short-term investments:
Short-term investments						5,108						5,108						—						—
Deposit administration contracts						2,740						—						2,740						—
Total cash and short-term investments						7,848						5,108						2,740						—
Total invested assets						$	341,826					338,728						2,740						—

1 Liquid diversifiers are investments that unbundle return drivers from hedge funds, providing investors access to liquid, diversifying returns.

2These investments were measured at fair value using the net asset value per share (or its practical expedient) and have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to total Pension Plan invested assets.

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