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Federal Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Reconciliation of Federal Income Tax on Income at the Corporate Rate to the Effective Tax Rate | A reconciliation of federal income tax on income at the corporate rate (21.0%) to the effective tax rate is as follows:
($ in thousands) |  | 2024 |  | 2023 |  | 2022
Tax at statutory rate |  | $ | 54,187 |  |  | 96,267 |  |  | 58,839 |
Tax-advantaged interest |  | (1,332) |  |  | (2,229) |  |  | (4,087) |
Dividends received deduction |  | (214) |  |  | (273) |  |  | (469) |
Executive compensation |  | 2,452 |  |  | 1,989 |  |  | 1,848 |
Stock-based compensation |  | (1,482) |  |  | (1,804) |  |  | (893) |
Other |  | (2,589) |  |  | (776) |  |  | 62 |
Federal income tax expense |  | 51,022 |  |  | 93,174 |  |  | 55,300 |
Income before federal income tax, less preferred stock dividends |  | 248,834 |  |  | 449,212 |  |  | 270,986 |
Effective tax rate |  | 20.5 | % |  | 20.7 | % |  | 20.4 | %
Schedule of Deferred Tax Assets and Liabilities | The tax effects of the significant temporary differences that gave rise to deferred tax assets and liabilities were as follows:
($ in thousands) |  | 2024 |  | 2023
Deferred tax assets: |  |  |  |
Net loss reserve discounting |  | $ | 89,653 |  |  | 73,175 |
Net unearned premiums |  | 100,053 |  |  | 89,413 |
Employee benefits |  | 13,226 |  |  | 13,777 |
Long-term incentive compensation |  | 7,106 |  |  | 6,736 |
Unrealized losses on fixed income securities |  | 66,525 |  |  | 74,183 |
Temporary investment write-downs |  | 7,987 |  |  | 7,560 |
Other |  | 5,751 |  |  | 8,080 |
Total deferred tax assets |  | 290,301 |  |  | 272,924 |
Deferred tax liabilities: |  |  |  |
Deferred policy acquisition costs |  | 100,654 |  |  | 89,221 |
Other investment-related items, net |  | 34,951 |  |  | 33,309 |
Accelerated depreciation and amortization |  | 7,908 |  |  | 10,157 |
Total deferred tax liabilities |  | 143,513 |  |  | 132,687 |
Net deferred federal income tax assets (liabilities) |  | $ | 146,788 |  |  | 140,237 |

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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
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