Segment Information (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Schedule of Revenue By Segment

Revenue by Segment	Quarter ended June 30,			Six Months ended June 30,
($ in thousands)	2020		2019	2020		2019
Standard Commercial Lines:
Net premiums earned:
Commercial automobile	$	138,535	136,338	288,225		267,524
Workers compensation	61,906		78,464	128,612		157,179
General liability	163,273		164,793	327,853		326,318
Commercial property	95,413		87,136	189,282		173,203
Businessowners policies	27,516		26,172	54,552		52,253
Bonds	9,210		8,967	18,849		17,871
Other	5,151		4,779	10,211		9,485
Miscellaneous income	4,195		2,718	5,586		4,762
Total Standard Commercial Lines revenue	505,199		509,367	1,023,170		1,008,595
Standard Personal Lines:
Net premiums earned:
Personal automobile	38,189		43,388	80,676		86,551
Homeowners	31,652		32,013	63,142		64,143
Other	1,792		1,712	3,943		3,726
Miscellaneous income	488		335	922		611
Total Standard Personal Lines revenue	72,121		77,448	148,683		155,031
E&S Lines:
Net premiums earned:
Casualty lines	42,722		44,756	86,794		89,284
Property lines	15,312		14,101	30,235		27,655
Miscellaneous income	—		—	—		—
Total E&S Lines revenue	58,034		58,857	117,029		116,939
Investments:
Net investment income	34,444		58,505	90,411		109,123
Net realized and unrealized investment gains (losses)	12,649		4,027	(32,017	)	17,478
Total Investments revenue	47,093		62,532	58,394		126,601
Total revenues	$	682,447	708,204	1,347,276		1,407,166

Schedule of Income Before and After Federal Income Tax

Income Before and After Federal Income Tax	Quarter ended June 30,				Six Months ended June 30,
($ in thousands)	2020			2019	2020		2019
Standard Commercial Lines:
Underwriting gain, before federal income tax	$	16,730		37,143	33,856		62,958
Underwriting gain, after federal income tax	13,217			29,343	26,747		49,737
Combined ratio	96.7		%	92.7	96.7		93.7
ROE contribution	2.4			5.9	2.4		5.2
Standard Personal Lines:
Underwriting (loss) gain, before federal income tax	$	(6,325	)	4,538	(5,938	)	7,705
Underwriting (loss) gain, after federal income tax	(4,997		)	3,585	(4,691	)	6,087
Combined ratio	108.8		%	94.1	104.0		95.0
ROE contribution	(0.9		)	0.7	(0.4	)	0.6
E&S Lines:
Underwriting (loss) gain, before federal income tax	$	(532	)	2,944	3,312		7,523
Underwriting (loss) gain, after federal income tax	(420		)	2,326	2,616		5,943
Combined ratio	100.9		%	95.0	97.2		93.6
ROE contribution	(0.1		)	0.5	0.2		0.6
Investments:
Net investment income	$	34,444		58,505	90,411		109,123
Net realized and unrealized investment gains (losses)	12,649			4,027	(32,017	)	17,478
Total investment segment income, before federal income tax	47,093			62,532	58,394		126,601
Tax on investment segment income	8,558			11,729	9,662		23,849
Total investment segment income, after federal income tax	$	38,535		50,803	48,732		102,752
ROE contribution of after-tax net investment income	5.2			9.6	6.6		9.2

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

Reconciliation of Segment Results to Income Before Federal Income Tax	Quarter ended June 30,					Six Months ended June 30,
($ in thousands)	2020			2019		2020		2019
Underwriting gain
Standard Commercial Lines	$	16,730		37,143		33,856		62,958
Standard Personal Lines	(6,325		)	4,538		(5,938	)	7,705
E&S Lines	(532		)	2,944		3,312		7,523
Investment income	47,093			62,532		58,394		126,601
Total all segments	56,966			107,157		89,624		204,787
Interest expense	(7,928		)	(7,366	)	(15,529	)	(18,892	)
Corporate expenses	(6,345		)	(9,566	)	(15,405	)	(21,976	)
Income, before federal income tax	$	42,693		90,225		58,690		163,919