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Segment Information (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Summary of Business Segment Information

The following are tabulations of business segment information for the quarters ended March 31, 2024 and 2023. Corporate information is included to reconcile segment data to the consolidated financial statements.

Quarter Ended March 31, 2024 (Dollars in thousands)		Penn- America				Non-Core Operations				Total
Revenues:
Gross written premiums		$	94,048			$	(560	)		$	93,488
Net written premiums		$	92,596			$	(511	)		$	92,085
Net earned premiums		$	89,132			$	7,447			$	96,579
Other income			339				6				345
Total revenues			89,471				7,453				96,924
Losses and Expenses:
Net losses and loss adjustment expenses			48,909				4,475				53,384
Acquisition costs and other underwriting expenses			34,927				3,342				38,269
Income (loss) from segments		$	5,635			$	(364	)		$	5,271
Unallocated Items:
Net investment income											14,520
Net realized investment gains											847
Corporate and other operating expenses											(6,373	)
Income before income taxes											14,265
Income tax expense											(2,899	)
Net income										$	11,366
Segment assets		$	983,495			$	597,601			$	1,581,096
Corporate assets											147,146
Total assets										$	1,728,242

Quarter Ended March 31, 2023 (Dollars in thousands)		Penn- America				Non-Core Operations				Total
Revenues:
Gross written premiums		$	95,412			$	27,573			$	122,985
Net written premiums		$	91,148			$	24,713			$	115,861
Net earned premiums		$	90,612			$	49,460			$	140,072
Other income			267				87				354
Total revenues			90,879				49,547				140,426
Losses and Expenses:
Net losses and loss adjustment expenses			59,278				28,723				88,001
Acquisition costs and other underwriting expenses			34,709				18,769				53,478
Income (loss) from segments		$	(3,108	)		$	2,055			$	(1,053	)
Unallocated Items:
Net investment income											12,008
Net realized investment losses											(1,520	)
Corporate and other operating expenses											(6,368	)
Income before income taxes											3,067
Income tax expense											(573	)
Net income										$	2,494
Segment assets		$	940,617			$	740,750			$	1,681,367
Corporate assets											95,911
Total assets										$	1,777,278

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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
-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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