XML 71 R57.htm IDEA: XBRL DOCUMENT
v3.22.4

Segment Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Segment Reporting [Abstract] |
Summary of Business Segment Information | The following are tabulations of business segment information for the years ended December 31, 2022, 2021, and 2020. Corporate information is included to reconcile segment data to the consolidated financial statements.
2022: (Dollars in thousands) |  | Commercial Specialty |  |  |  | Reinsurance Operations |  | (1) |  | Exited Lines |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross written premiums |  | $ | 401,025 |  |  |  | $ | 158,711 |  |  |  | $ | 167,867 |  |  | $ | 727,603 |
Net written premiums |  | $ | 383,682 |  |  |  | $ | 158,711 |  |  |  | $ | 48,938 |  |  | $ | 591,331 |
Net earned premiums |  | $ | 377,953 |  |  |  | $ | 141,287 |  |  |  | $ | 83,231 |  |  | $ | 602,471 |
Other income (loss) |  |  | 1,029 |  |  |  |  | (82 | ) |  |  |  | 515 |  |  |  | 1,462 |
Total revenues |  |  | 378,982 |  |  |  |  | 141,205 |  |  |  |  | 83,746 |  |  |  | 603,933 |
Losses and Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net losses and loss adjustment expenses |  |  | 225,389 |  |  |  |  | 85,385 |  |  |  |  | 48,454 |  |  |  | 359,228 |
Acquisition costs and other underwriting expenses |  |  | 141,471 |  |  |  |  | 51,721 |  |  |  |  | 43,189 |  |  |  | 236,381 |
Income (loss) from segments |  | $ | 12,122 |  |  |  | $ | 4,099 |  |  |  | $ | (7,897 | ) |  |  | 8,324 |
Unallocated Items: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net investment income |  |  |  |  |  |  |  |  |  |  |  |  |  | 27,627 |
Net realized investment losses |  |  |  |  |  |  |  |  |  |  |  |  |  | (32,929 | )
Other income |  |  |  |  |  |  |  |  |  |  |  |  |  | 29,903 |
Corporate and other operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  | (24,421 | )
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,004 | )
Loss on extinguishment of debt |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,529 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,971 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,821 | )
Net loss |  |  |  |  |  |  |  |  |  |  |  |  | $ | (850 | )
Segment assets |  | $ | 980,884 |  |  |  | $ | 376,405 |  |  |  | $ | 277,031 |  |  | $ | 1,634,320 |
Corporate assets |  |  |  |  |  |  |  |  |  |  |  |  |  | 166,455 |
Total assets |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,800,775 |
(1) External business only, excluding business assumed from affiliates.
2021: (Dollars in thousands) |  | Commercial Specialty |  |  |  | Reinsurance Operations |  | (1) |  |  | Exited Lines |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross written premiums |  | $ | 373,552 |  |  |  | $ | 103,690 |  |  |  |  | $ | 204,880 |  |  | $ | 682,122 |
Net written premiums |  | $ | 353,105 |  |  |  | $ | 103,690 |  |  |  |  | $ | 123,273 |  |  | $ | 580,068 |
Net earned premiums |  | $ | 331,503 |  |  |  | $ | 76,663 |  |  |  |  | $ | 187,444 |  |  | $ | 595,610 |
Other income (loss) |  |  | 1,028 |  |  |  |  | (95 | ) |  |  |  |  | 882 |  |  |  | 1,815 |
Total revenues |  |  | 332,531 |  |  |  |  | 76,568 |  |  |  |  |  | 188,326 |  |  |  | 597,425 |
Losses and Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net losses and loss adjustment expenses |  |  | 202,176 |  |  |  |  | 48,064 |  |  |  |  |  | 134,724 |  |  |  | 384,964 |
Acquisition costs and other underwriting expenses |  |  | 120,877 |  |  |  |  | 26,698 |  |  |  |  |  | 75,266 |  |  |  | 222,841 |
Income (loss) from segments |  | $ | 9,478 |  |  |  | $ | 1,806 |  |  |  |  | $ | (21,664 | ) |  |  | (10,380 | )
Unallocated Items: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net investment income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 37,020 |
Net realized investment gains |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 15,887 |
Other income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 27,936 |
Corporate and other operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (27,179 | )
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (10,481 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 32,803 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,449 | )
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 29,354 |
Segment assets |  | $ | 915,428 |  |  |  | $ | 247,366 |  |  |  |  | $ | 464,936 |  |  | $ | 1,627,730 |
Corporate assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 385,079 |
Total assets |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 2,012,809 |
(1) External business only, excluding business assumed from affiliates.
2020: (Dollars in thousands) |  | Commercial Specialty |  |  |  | Reinsurance Operations |  | (1) |  |  | Exited Lines |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross written premiums |  | $ | 310,354 |  |  |  | $ | 55,616 |  |  |  |  | $ | 240,633 |  |  | $ | 606,603 |
Net written premiums |  | $ | 288,745 |  |  |  | $ | 55,616 |  |  |  |  | $ | 203,806 |  |  | $ | 548,167 |
Net earned premiums |  | $ | 277,892 |  |  |  | $ | 46,105 |  |  |  |  | $ | 243,702 |  |  | $ | 567,699 |
Other income |  |  | 888 |  |  |  |  | 191 |  |  |  |  |  | 959 |  |  |  | 2,038 |
Total revenues |  |  | 278,780 |  |  |  |  | 46,296 |  |  |  |  |  | 244,661 |  |  |  | 569,737 |
Losses and Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net losses and loss adjustment expenses |  |  | 140,388 |  |  |  |  | 28,718 |  |  |  |  |  | 167,095 |  |  |  | 336,201 |
Acquisition costs and other underwriting expenses |  |  | 102,680 |  |  |  |  | 16,148 |  |  |  |  |  | 96,779 |  |  |  | 215,607 |
Income (loss) from segments |  | $ | 35,712 |  |  |  | $ | 1,430 |  |  |  |  | $ | (19,213 | ) |  |  | 17,929 |
Unallocated Items: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net investment income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 28,392 |
Net realized investment losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (14,662 | )
Other income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 80 |
Corporate and other operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (41,998 | )
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (15,792 | )
Loss on extinguishment of debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,060 | )
Loss before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (29,111 | )
Income tax benefit |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,105 |
Net loss |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (21,006 | )
Segment assets |  | $ | 824,987 |  |  |  | $ | 137,950 |  |  |  |  | $ | 555,943 |  |  | $ | 1,518,880 |
Corporate assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 386,028 |
Total assets |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,904,908 |
External business only, excluding business assumed from affiliates.

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration