Segment Information (Tables)

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Schedule of Revenue By Segment

Revenue by Segment	Quarter ended September 30,					Nine Months ended September 30,
($ in thousands)	2019			2018		2019	2018
Standard Commercial Lines:
Net premiums earned:
Commercial automobile	$	141,182		124,862		408,706	365,197
Workers compensation	75,478			78,784		232,657	237,628
General liability	169,084			154,974		495,402	457,805
Commercial property	89,215			83,056		262,418	245,544
Businessowners’ policies	26,371			25,994		78,624	77,414
Bonds	8,990			8,778		26,861	25,247
Other	4,841			4,608		14,326	13,597
Miscellaneous income	2,782			2,228		7,544	6,936
Total Standard Commercial Lines revenue	517,943			483,284		1,526,538	1,429,368
Standard Personal Lines:
Net premiums earned:
Personal automobile	43,226			42,772		129,777	125,024
Homeowners	31,529			32,293		95,672	96,717
Other	1,983			2,092		5,709	5,349
Miscellaneous income	380			310		991	959
Total Standard Personal Lines revenue	77,118			77,467		232,149	228,049
E&S Lines:
Net premiums earned:
Casualty lines	47,171			42,179		136,455	120,098
Property lines	14,550			13,885		42,205	41,321
Miscellaneous income	—			—		—	1
Total E&S Lines revenue	61,721			56,064		178,660	161,420
Investments:
Net investment income	55,826			52,443		164,949	141,227
Net realized and unrealized investment (losses) gains	(2,183		)	(4,787	)	15,295	(16,988	)
Total Investments revenue	53,643			47,656		180,244	124,239
Total revenues	$	710,425		664,471		2,117,591	1,943,076

Schedule of Income Before and After Federal Income Tax

Income Before and After Federal Income Tax	Quarter ended September 30,					Nine Months ended September 30,
($ in thousands)	2019			2018		2019	2018
Standard Commercial Lines:
Underwriting gain, before federal income tax	$	30,016		26,333		92,974	74,153
Underwriting gain, after federal income tax	23,713			20,803		73,450	58,581
Combined ratio	94.2		%	94.5		93.9	94.8
ROE contribution	4.5			4.9		5.0	4.5
Standard Personal Lines:
Underwriting (loss) gain, before federal income tax	$	(631	)	3,158		7,074	6,457
Underwriting (loss) gain, after federal income tax	(499		)	2,495		5,588	5,101
Combined ratio	100.8		%	95.9		96.9	97.2
ROE contribution	(0.1		)	0.6		0.4	0.4
E&S Lines:
Underwriting gain (loss), before federal income tax	$	1,916		3,506		9,439	(4,848	)
Underwriting gain (loss), after federal income tax	1,514			2,770		7,457	(3,830	)
Combined ratio	96.9		%	93.7		94.7	103.0
ROE contribution	0.3			0.6		0.5	(0.3	)
Investments:
Net investment income	$	55,826		52,443		164,949	141,227
Net realized and unrealized investment (losses) gains	(2,183		)	(4,787	)	15,295	(16,988	)
Total investment segment income, before federal income tax	53,643			47,656		180,244	124,239
Tax on investment segment income	10,884			8,562		34,733	21,405
Total investment segment income, after federal income tax	$	42,759		39,094		145,511	102,834
ROE contribution of after-tax net investment income	8.6			10.0		9.1	9.0

Schedule of Reconciliation of Segment Results to Income Before Federal Income Tax

Reconciliation of Segment Results to Income Before Federal Income Tax	Quarter ended September 30,					Nine Months ended September 30,
($ in thousands)	2019			2018		2019		2018
Underwriting gain (loss)
Standard Commercial Lines	$	30,016		26,333		92,974		74,153
Standard Personal Lines	(631		)	3,158		7,074		6,457
E&S Lines	1,916			3,506		9,439		(4,848	)
Investment income	53,643			47,656		180,244		124,239
Total all segments	84,944			80,653		289,731		200,001
Interest expense	(7,397		)	(6,073	)	(26,289	)	(18,350	)
Corporate expenses	(6,369		)	(7,450	)	(28,345	)	(22,065	)
Income, before federal income tax	$	71,178		67,130		235,097		159,586