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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.

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- 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.

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-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Section 50
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