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Segment Information (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Summary of Business Segment Information

The following are tabulations of business segment information for the quarters and six months ended June 30, 2023 and 2022. Corporate information is included to reconcile segment data to the consolidated financial statements.

Quarter Ended June 30, 2023 (Dollars in thousands)		Commercial Specialty				Reinsurance Operations			(1)	Exited Lines				Total
Revenues:
Gross written premiums		$	95,347			$	14,844			$	(91	)		$	110,100
Net written premiums		$	91,896			$	14,844			$	(744	)		$	105,996
Net earned premiums		$	93,408			$	29,585			$	6,163			$	129,156
Other income			266				9				26				301
Total revenues			93,674				29,594				6,189				129,457
Losses and Expenses:
Net losses and loss adjustment expenses			58,662				19,512				(92	)			78,082
Acquisition costs and other underwriting expenses			33,972				10,737				2,392				47,101
Income (loss) from segments		$	1,040			$	(655	)		$	3,889			$	4,274
Unallocated Items:
Net investment income															13,216
Net realized investment losses															(761	)
Other loss															(19	)
Corporate and other operating expenses															(4,990	)
Interest expense															(12	)
Income before income taxes															11,708
Income tax expense															(2,371	)
Net income														$	9,337
Segment assets		$	999,271			$	383,040			$	222,491			$	1,604,802
Corporate assets															169,200
Total assets														$	1,774,002

(1)External business only, excluding business assumed from affiliates.

Quarter Ended June 30, 2022 (Dollars in thousands)		Commercial Specialty				Reinsurance Operations			(1)	Exited Lines				Total
Revenues:
Gross written premiums		$	105,010			$	46,524			$	45,289			$	196,823
Net written premiums		$	99,667			$	46,524			$	20,967			$	167,158
Net earned premiums		$	93,997			$	39,162			$	22,590			$	155,749
Other income (loss)			260				20				(196	)			84
Total revenues			94,257				39,182				22,394				155,833
Losses and Expenses:
Net losses and loss adjustment expenses			52,804				22,793				17,021				92,618
Acquisition costs and other underwriting expenses			35,543				14,553				11,002				61,098
Income (loss) from segments		$	5,910			$	1,836			$	(5,629	)		$	2,117
Unallocated Items:
Net investment income															1,930
Net realized investment losses															(9,916	)
Other income															13
Corporate and other operating expenses															(2,993	)
Interest expense															(410	)
Loss on extinguishment of debt															(3,529	)
Loss before income taxes															(12,788	)
Income tax benefit															626
Net loss															(12,162	)
Segment assets		$	1,002,120			$	326,804			$	384,991			$	1,713,915
Corporate assets															147,864
Total assets														$	1,861,779

(1)External business only, excluding business assumed from affiliates.

Six Months Ended June 30, 2023 (Dollars in thousands)		Commercial Specialty				Reinsurance Operations			(1)	Exited Lines				Total
Revenues:
Gross written premiums		$	190,855			$	38,260			$	3,970			$	233,085
Net written premiums		$	183,130			$	38,260			$	467			$	221,857
Net earned premiums		$	186,590			$	64,432			$	18,206			$	269,228
Other income			533				—				103				636
Total revenues			187,123				64,432				18,309				269,864
Losses and Expenses:
Net losses and loss adjustment expenses			118,781				40,775				6,527				166,083
Acquisition costs and other underwriting expenses			69,498				23,553				7,528				100,579
Income (loss) from segments		$	(1,156	)		$	104			$	4,254			$	3,202
Unallocated Items:
Net investment income															25,224
Net realized investment losses															(2,281	)
Corporate and other operating expenses															(11,358	)
Interest expense															(12	)
Income before income taxes															14,775
Income tax expense															(2,944	)
Net income														$	11,831
Segment assets		$	999,271			$	383,040			$	222,491			$	1,604,802
Corporate assets															169,200
Total assets														$	1,774,002

(1)External business only, excluding business assumed from affiliates.

Six Months Ended June 30, 2022 (Dollars in thousands)		Commercial Specialty				Reinsurance Operations			(1)	Exited Lines				Total
Revenues:
Gross written premiums		$	207,858			$	87,520			$	92,428			$	387,806
Net written premiums		$	197,830			$	87,520			$	41,290			$	326,640
Net earned premiums		$	185,194			$	73,460			$	45,918			$	304,572
Other income			519				—				4				523
Total revenues			185,713				73,460				45,922				305,095
Losses and Expenses:
Net losses and loss adjustment expenses			106,463				43,852				26,998				177,313
Acquisition costs and other underwriting expenses			69,069				26,514				22,207				117,790
Income (loss) from segments		$	10,181			$	3,094			$	(3,283	)		$	9,992
Unallocated Items:
Net investment income															8,522
Net realized investment losses															(35,301	)
Corporate and other operating expenses															(7,653	)
Interest expense															(3,005	)
Loss on extinguishment of debt															(3,529	)
Loss before income taxes															(30,974	)
Income tax benefit															4,039
Net loss														$	(26,935	)
Segment assets		$	1,002,120			$	326,804			$	384,991			$	1,713,915
Corporate assets															147,864
Total assets														$	1,861,779

(1)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
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

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- References

No definition available.

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