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Segment Information
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
We evaluate the results of our four reportable segments as follows:

•Our Standard Commercial Lines, Standard Personal Lines, and E&S Lines are evaluated on (i) before and after-tax underwriting results (net premiums earned, incurred loss and loss expense, policyholder dividends, policy acquisition costs, and other underwriting expenses), (ii) their return on equity ("ROE") contribution, and (iii) their combined ratios.

•Our Investments segment is primarily evaluated on after-tax net investment income and its ROE contribution. After-tax net realized and unrealized gains and losses are also included in our Investments segment results.

In computing each segment's results, we do not make adjustments for interest expense or corporate expenses. No segment has a separate investment portfolio or allocated assets.
The following summaries present revenues (net investment income and net realized and unrealized gains and losses on investments in the case of the Investments segment) and pre-tax income for the individual segments:

Revenue by SegmentQuarter ended
September 30,		Nine Months ended
September 30,
($ in thousands)2024202320242023
Standard Commercial Lines:  
Net premiums earned:  
General liability$286,641 261,551 $840,153 759,410 
Commercial automobile269,036 234,622 781,408 677,060 
Commercial property174,855 152,495 504,919 429,135 
Workers compensation81,296 81,672 251,389 254,602 
Businessowners' policies43,091 36,016 124,653 103,572 
Bonds12,511 11,715 37,067 34,731 
Other7,949 7,257 23,393 21,142 
Miscellaneous income8,189 4,606 20,537 12,355 
Total Standard Commercial Lines revenue883,568 789,934 2,583,519 2,292,007 
Standard Personal Lines:
Net premiums earned:
Personal automobile56,599 51,906 171,103 145,050 
Homeowners47,251 40,175 137,419 112,090 
Other3,671 3,088 9,266 7,069 
Miscellaneous income692 575 1,927 1,564 
Total Standard Personal Lines revenue108,213 95,744 319,715 265,773 
E&S Lines:
Net premiums earned:
Casualty lines77,471 67,718 222,996 190,686 
Property lines51,857 33,702 139,637 91,856 
Miscellaneous income49 — 102 — 
Total E&S Lines revenue129,377 101,420 362,735 282,542 
Investments:    
Net investment income earned117,759 100,863 334,250 290,065 
Net realized and unrealized investment gains (losses)5,389 (6,880)5,051 (8,962)
Total Investments revenue123,148 93,983 339,301 281,103 
Total revenues $1,244,306 1,081,081 $3,605,270 3,121,425 
Income (Loss) Before and After Federal Income Tax
Quarter ended
September 30,		Nine Months ended
September 30,
($ in thousands)2024202320242023
Standard Commercial Lines:  
Underwriting income (loss), before federal income tax$7,319 41,339 $(143,181)102,406 
Underwriting income (loss), after federal income tax5,782 32,658 (113,113)80,901 
Combined ratio99.2 %94.7 105.6 95.5 
ROE contribution0.8 5.4 (5.4)4.4 
Standard Personal Lines:
Underwriting income (loss), before federal income tax$(23,774)(26,099)$(48,410)(62,232)
Underwriting income (loss), after federal income tax(18,781)(20,618)(38,244)(49,163)
Combined ratio122.1 %127.4 115.2 123.6 
ROE contribution(2.6)(3.4)(1.8)(2.7)
E&S Lines:
Underwriting income (loss), before federal income tax$21,706 16,351 $42,192 29,074 
Underwriting income (loss), after federal income tax17,148 12,917 33,332 22,968 
Combined ratio83.2 %83.9 88.4 89.7 
ROE contribution2.4 2.1 1.6 1.3 
Investments:  
Net investment income earned$117,759 100,863 $334,250 290,065 
Net realized and unrealized investment gains (losses)5,389 (6,880)5,051 (8,962)
Total investments segment income, before federal income tax123,148 93,983 339,301 281,103 
Tax on investments segment income25,511 19,191 70,029 57,092 
Total investments segment income, after federal income tax$97,637 74,792 $269,272 224,011 
ROE contribution of after-tax net investment income earned13.1 13.1 12.6 12.7 

Reconciliation of Segment Results to Income (Loss) Before Federal Income Tax
Quarter ended
September 30,		Nine Months ended
September 30,
($ in thousands)2024202320242023
Underwriting income (loss)
Standard Commercial Lines$7,319 41,339 $(143,181)102,406 
Standard Personal Lines(23,774)(26,099)(48,410)(62,232)
E&S Lines21,706 16,351 42,192 29,074 
Investment income123,148 93,983 339,301 281,103 
Total all segments128,399 125,574 189,902 350,351 
Interest expense(7,250)(7,186)(21,633)(21,610)
Corporate expenses(4,662)(5,871)(29,314)(27,308)
Income (loss), before federal income tax
$116,487 112,517 $138,955 301,433 
Preferred stock dividends(2,300)(2,300)(6,900)(6,900)
Income (loss) available to common stockholders, before federal income tax
$114,187 110,217 $132,055 294,533