Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Summary of Business Segment Information

The following are tabulations of business segment information for the years ended December 31, 2023, 2022, and 2021. Corporate information is included to reconcile segment data to the consolidated financial statements.

2023:  (Dollars in thousands)	Penn- America			Non-Core Operations		Total
Revenues:
Gross written premiums	$	369,660		$	46,737	$	416,397
Net written premiums	$	356,796		$	42,523	$	399,319
Net earned premiums	$	354,518		$	118,839	$	473,357
Other income		1,257			178		1,435
Total revenues		355,775			119,017		474,792
Losses and Expenses:
Net losses and loss adjustment expenses		233,239			55,914		289,153
Acquisition costs and other underwriting expenses		134,155			48,462		182,617
Income (loss) from segments	$	(11,619	)	$	14,641		3,022
Unallocated Items:
Net investment income							55,444
Net realized investment losses							(2,107	)
Corporate and other operating expenses							(23,383	)
Income before income taxes							32,976
Income tax expense							(7,547	)
Net income						$	25,429
Segment assets	$	982,083		$	603,433	$	1,585,516
Corporate assets							144,060
Total assets						$	1,729,576

2022:  (Dollars in thousands)	Penn- America		Non-Core Operations			Total
Revenues:
Gross written premiums	$	387,967	$	339,636		$	727,603
Net written premiums	$	370,306	$	221,025		$	591,331
Net earned premiums	$	359,597	$	242,874		$	602,471
Other income		1,029		433			1,462
Total revenues		360,626		243,307			603,933
Losses and Expenses:
Net losses and loss adjustment expenses		214,854		144,374			359,228
Acquisition costs and other underwriting expenses		135,145		101,236			236,381
Income (loss) from segments	$	10,627	$	(2,303	)		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	$	937,919	$	824,256		$	1,762,175
Corporate assets							38,600
Total assets						$	1,800,775

2021:  (Dollars in thousands)	Penn- America		Non-Core Operations			Total
Revenues:
Gross written premiums	$	349,962	$	332,160		$	682,122
Net written premiums	$	328,659	$	251,409		$	580,068
Net earned premiums	$	308,676	$	286,934		$	595,610
Other income		1,028		787			1,815
Total revenues		309,704		287,721			597,425
Losses and Expenses:
Net losses and loss adjustment expenses		184,163		200,801			384,964
Acquisition costs and other underwriting expenses		113,038		109,803			222,841
Income (loss) from segments	$	12,503	$	(22,883	)		(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	$	837,108	$	920,734		$	1,757,842
Corporate assets							254,967
Total assets						$	2,012,809