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v3.23.1

Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2023
Segment Reporting [Abstract] |
Summary of Business Segment Information | The following are tabulations of business segment information for the quarters ended March 31, 2023 and 2022. Corporate information is included to reconcile segment data to the consolidated financial statements.
Quarter Ended March 31, 2023 (Dollars in thousands) |  | Commercial Specialty |  |  | Reinsurance Operations |  | (1) | Exited Lines |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Gross written premiums |  | $ | 95,508 |  |  | $ | 23,416 |  |  | $ | 4,061 |  |  | $ | 122,985 |
Net written premiums |  | $ | 91,234 |  |  | $ | 23,416 |  |  | $ | 1,211 |  |  | $ | 115,861 |
Net earned premiums |  | $ | 93,182 |  |  | $ | 34,847 |  |  | $ | 12,043 |  |  | $ | 140,072 |
Other income (loss) |  |  | 267 |  |  |  | (9 | ) |  |  | 77 |  |  |  | 335 |
Total revenues |  |  | 93,449 |  |  |  | 34,838 |  |  |  | 12,120 |  |  |  | 140,407 |
Losses and Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Net losses and loss adjustment expenses |  |  | 60,119 |  |  |  | 21,263 |  |  |  | 6,619 |  |  |  | 88,001 |
Acquisition costs and other underwriting expenses |  |  | 35,526 |  |  |  | 12,816 |  |  |  | 5,136 |  |  |  | 53,478 |
Income (loss) from segments |  | $ | (2,196 | ) |  | $ | 759 |  |  | $ | 365 |  |  | $ | (1,072 | )
Unallocated Items: |  |  |  |  |  |  |  |  |  |  |  |
Net investment income |  |  |  |  |  |  |  |  |  |  |  | 12,008 |
Net realized investment losses |  |  |  |  |  |  |  |  |  |  |  | (1,520 | )
Other income |  |  |  |  |  |  |  |  |  |  |  | 19 |
Corporate and other operating expenses |  |  |  |  |  |  |  |  |  |  |  | (6,368 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  | 3,067 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  | (573 | )
Net income |  |  |  |  |  |  |  |  |  |  | $ | 2,494 |
Segment assets |  | $ | 985,557 |  |  | $ | 368,751 |  |  | $ | 249,302 |  |  | $ | 1,603,610 |
Corporate assets |  |  |  |  |  |  |  |  |  |  |  | 173,668 |
Total assets |  |  |  |  |  |  |  |  |  |  | $ | 1,777,278 |
(1) External business only, excluding business assumed from affiliates.
Quarter Ended March 31, 2022 (Dollars in thousands) |  | Commercial Specialty |  |  | Reinsurance Operations |  | (1) | Exited Lines |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Gross written premiums |  | $ | 102,848 |  |  | $ | 40,996 |  |  | $ | 47,139 |  |  | $ | 190,983 |
Net written premiums |  | $ | 98,163 |  |  | $ | 40,996 |  |  | $ | 20,323 |  |  | $ | 159,482 |
Net earned premiums |  | $ | 91,197 |  |  | $ | 34,298 |  |  | $ | 23,328 |  |  | $ | 148,823 |
Other income (loss) |  |  | 259 |  |  |  | (20 | ) |  |  | 200 |  |  |  | 439 |
Total revenues |  |  | 91,456 |  |  |  | 34,278 |  |  |  | 23,528 |  |  |  | 149,262 |
Losses and Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Net losses and loss adjustment expenses |  |  | 53,659 |  |  |  | 21,059 |  |  |  | 9,977 |  |  |  | 84,695 |
Acquisition costs and other underwriting expenses |  |  | 33,526 |  |  |  | 11,961 |  |  |  | 11,205 |  |  |  | 56,692 |
Income from segments |  | $ | 4,271 |  |  | $ | 1,258 |  |  | $ | 2,346 |  |  | $ | 7,875 |
Unallocated Items: |  |  |  |  |  |  |  |  |  |  |  |
Net investment income |  |  |  |  |  |  |  |  |  |  |  | 6,592 |
Net realized investment losses |  |  |  |  |  |  |  |  |  |  |  | (25,385 | )
Other loss |  |  |  |  |  |  |  |  |  |  |  | (13 | )
Corporate and other operating expenses |  |  |  |  |  |  |  |  |  |  |  | (4,660 | )
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (2,595 | )
Loss before income taxes |  |  |  |  |  |  |  |  |  |  |  | (18,186 | )
Income tax benefit |  |  |  |  |  |  |  |  |  |  |  | 3,413 |
Net loss |  |  |  |  |  |  |  |  |  |  |  | (14,773 | )
Segment assets |  | $ | 964,718 |  |  | $ | 267,466 |  |  | $ | 396,227 |  |  | $ | 1,628,411 |
Corporate assets |  |  |  |  |  |  |  |  |  |  |  | 331,085 |
Total assets |  |  |  |  |  |  |  |  |  |  | $ | 1,959,496 |
(1) 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. + 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
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