XML 40 R33.htm IDEA: XBRL DOCUMENT v3.24.3

Segment Information (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Summary of Business Segment Information

The following are tabulations of business segment information for the quarters and nine months ended September 30, 2024 and 2023. Corporate information is included to reconcile segment data to the consolidated financial statements.

Quarter Ended September 30, 2024 (Dollars in thousands)		Penn- America				Non-Core Operations				Total
Revenues:
Gross written premiums		$	103,244			$	(3,477	)		$	99,767
Net written premiums		$	100,712			$	(3,535	)		$	97,177
Net earned premiums		$	93,982			$	1,431			$	95,413
Other income			337				35				372
Total revenues			94,319				1,466				95,785
Losses and Expenses:
Net losses and loss adjustment expenses			51,382				1,018				52,400
Acquisition costs and other underwriting expenses			35,629				1,924				37,553
Income (loss) from segments		$	7,308			$	(1,476	)		$	5,832
Unallocated Items:
Net investment income											16,488
Net realized investment losses											(512	)
Corporate and other operating expenses											(5,923	)
Income before income taxes											15,885
Income tax expense											(3,125	)
Net income										$	12,760
Segment assets		$	1,044,750			$	562,403			$	1,607,153
Corporate assets											153,964
Total assets										$	1,761,117

Quarter Ended September 30, 2023 (Dollars in thousands)		Penn- America				Non-Core Operations				Total
Revenues:
Gross written premiums		$	87,004			$	11,922			$	98,926
Net written premiums		$	84,096			$	11,527			$	95,623
Net earned premiums		$	83,462			$	28,233			$	111,695
Other income			275				24				299
Total revenues			83,737				28,257				111,994
Losses and Expenses:
Net losses and loss adjustment expenses			56,020				9,096				65,116
Acquisition costs and other underwriting expenses			32,210				13,992				46,202
Income (loss) from segments		$	(4,493	)		$	5,169			$	676
Unallocated Items:
Net investment income											14,200
Net realized investment losses											(133	)
Corporate and other operating expenses											(5,280	)
Income before income taxes											9,463
Income tax expense											(1,763	)
Net income										$	7,700
Segment assets		$	967,573			$	684,187			$	1,651,760
Corporate assets											116,086
Total assets										$	1,767,846

Nine Months Ended September 30, 2024 (Dollars in thousands)		Penn- America				Non-Core Operations				Total
Revenues:
Gross written premiums		$	297,844			$	(3,883	)		$	293,961
Net written premiums		$	290,910			$	(3,897	)		$	287,013
Net earned premiums		$	272,467			$	12,339			$	284,806
Other income			1,020				54				1,074
Total revenues			273,487				12,393				285,880
Losses and Expenses:
Net losses and loss adjustment expenses			151,417				8,029				159,446
Acquisition costs and other underwriting expenses			104,454				7,336				111,790
Income (loss) from segments		$	17,616			$	(2,972	)		$	14,644
Unallocated Items:
Net investment income											46,319
Net realized investment gains											540
Corporate and other operating expenses											(18,662	)
Interest expense											(17	)
Income before income taxes											42,824
Income tax expense											(8,605	)
Net income										$	34,219
Segment assets		$	1,044,750			$	562,403			$	1,607,153
Corporate assets											153,964
Total assets										$	1,761,117

Nine Months Ended September 30, 2023 (Dollars in thousands)		Penn- America				Non-Core Operations				Total
Revenues:
Gross written premiums		$	277,443			$	54,568			$	332,011
Net written premiums		$	266,837			$	50,643			$	317,480
Net earned premiums		$	266,759			$	114,164			$	380,923
Other income			808				127				935
Total revenues			267,567				114,291				381,858
Losses and Expenses:
Net losses and loss adjustment expenses			167,725				63,474				231,199
Acquisition costs and other underwriting expenses			101,311				45,470				146,781
Income (loss) from segments		$	(1,469	)		$	5,347			$	3,878
Unallocated Items:
Net investment income											39,424
Net realized investment losses											(2,414	)
Corporate and other operating expenses											(16,638	)
Interest expense											(12	)
Income before income taxes											24,238
Income tax expense											(4,707	)
Net income										$	19,531
Segment assets		$	967,573			$	684,187			$	1,651,760
Corporate assets											116,086
Total assets										$	1,767,846

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 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: 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 3: 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

+ 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