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Concentration of Operations
 12 Months Ended
Dec. 31, 2024
Concentration Of Operations [Abstract]  
Concentration of Operations
17.
Concentration of Operations

The Company derives its premium revenues from its operations in the workers’ compensation insurance line of business.

Net premiums earned during 2024, 2023 and 2022 for the top ten states in 2024 and all others are shown below:

 

 

2024

 

 

2023

 

 

2022

 

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

Dollars

 

 

Percent

 

 

 

(Dollars in thousands)

 

Florida

 

$

38,976

 

 

 

14.4

%

 

$

33,838

 

 

 

12.7

%

 

$

31,955

 

 

 

11.8

%

Georgia

 

 

28,267

 

 

 

10.4

%

 

 

30,504

 

 

 

11.4

%

 

 

30,831

 

 

 

11.3

%

Pennsylvania

 

 

19,564

 

 

 

7.2

%

 

 

19,963

 

 

 

7.5

%

 

 

21,017

 

 

 

7.7

%

Louisiana

 

 

16,998

 

 

 

6.3

%

 

 

21,150

 

 

 

7.9

%

 

 

21,804

 

 

 

8.0

%

Illinois

 

 

16,294

 

 

 

6.0

%

 

 

13,072

 

 

 

4.9

%

 

 

12,209

 

 

 

4.5

%

North Carolina

 

 

15,863

 

 

 

5.9

%

 

 

16,432

 

 

 

6.2

%

 

 

17,883

 

 

 

6.6

%

Texas

 

 

10,886

 

 

 

4.0

%

 

 

6,151

 

 

 

2.3

%

 

 

6,307

 

 

 

2.3

%

Wisconsin

 

 

10,769

 

 

 

4.0

%

 

 

11,724

 

 

 

4.4

%

 

 

12,007

 

 

 

4.4

%

Virginia

 

 

10,151

 

 

 

3.8

%

 

 

10,400

 

 

 

3.8

%

 

 

11,537

 

 

 

4.3

%

South Carolina

 

 

8,603

 

 

 

3.2

%

 

 

9,050

 

 

 

3.4

%

 

 

9,808

 

 

 

3.6

%

All others

 

 

94,268

 

 

 

34.8

%

 

 

94,841

 

 

 

35.5

%

 

 

96,340

 

 

 

35.5

%

Total net premiums earned

 

$

270,639

 

 

 

100.0

%

 

$

267,125

 

 

 

100.0

%

 

$

271,698

 

 

 

100.0

%