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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis  
Schedule of Carrying Values and Estimated Fair Values of Financial Liabilities
September 30, 2022December 31, 2021
($ in thousands)Carrying AmountFair ValueCarrying AmountFair Value
Financial Liabilities
Long-term debt:
7.25% Senior Notes$49,920 50,225 49,917 63,719 
6.70% Senior Notes99,536 97,098 99,520 127,574 
5.375% Senior Notes294,400 255,216 294,330 395,652 
3.03% borrowings from FHLBI60,000 57,025 60,000 64,126 
Subtotal long-term debt503,856 459,564 503,767 651,071 
Unamortized debt issuance costs(2,986)(3,167)
Finance lease obligations4,281 5,450 
Total long-term debt$505,151 506,050 
Schedule of Quantitative Disclosures of Our Financial Assets That Were Measured At Fair Value
September 30, 2022 Fair Value Measurements Using
($ in thousands)Assets
 Measured at
 Fair Value		Quoted Prices in
Active Markets for
Identical Assets/
Liabilities (Level 1)		Significant Other
 Observable
Inputs
 (Level 2)		Significant Unobservable
 Inputs
 (Level 3)
Description    
Measured on a recurring basis:    
AFS fixed income securities:
U.S. government and government agencies$148,231 75,858 72,373 — 
Foreign government13,780 — 13,780 — 
Obligations of states and political subdivisions967,630 — 960,919 6,711 
Corporate securities2,264,636 — 2,098,812 165,824 
CLO and other ABS1,467,423 — 1,341,751 125,672 
RMBS1,016,057 — 1,016,057 — 
CMBS594,343 — 593,970 373 
Total AFS fixed income securities6,472,100 75,858 6,097,662 298,580 
Equity securities:
Common stock1
182,138 81,029 — — 
Preferred stock1,730 1,730 — — 
Total equity securities183,868 82,759 — — 
Short-term investments269,302 268,982 320 — 
Total assets measured at fair value$6,925,270 427,599 6,097,982 298,580 
December 31, 2021 Fair Value Measurements Using
($ in thousands)Assets
 Measured at
 Fair Value		Quoted Prices in
 Active Markets for
Identical Assets/Liabilities
(Level 1)		Significant
Other Observable Inputs
(Level 2)		Significant Unobservable
Inputs
 (Level 3)
Description    
Measured on a recurring basis:    
AFS fixed income securities:
U.S. government and government agencies$130,458 60,615 69,843 — 
Foreign government15,860 — 15,860 — 
Obligations of states and political subdivisions1,189,308 — 1,181,563 7,745 
Corporate securities2,573,603 — 2,459,476 114,127 
CLO and other ABS1,350,814 — 1,225,905 124,909 
RMBS776,252 — 776,007 245 
CMBS673,681 — 669,425 4,256 
Total AFS fixed income securities6,709,976 60,615 6,398,079 251,282 
Equity securities:
Common stock1
333,449 249,846 — — 
Preferred stock2,088 2,088 — — 
Total equity securities335,537 251,934 — — 
Short-term investments447,863 442,723 5,140 — 
Total assets measured at fair value$7,493,376 755,272 6,403,219 251,282 
1Investments amounting to $101.1 million at September 30, 2022, and $83.6 million at December 31, 2021, were measured at fair value using the net asset value per share (or its practical expedient) and have not been classified in the fair value hierarchy. These investments are not redeemable and the timing of liquidations of the underlying assets is unknown at each reporting period. The fair value amounts in this table are intended to permit reconciliation of the fair value hierarchy to total assets measured at fair value
Schedule of Changes in Fair Value of Securities Using Level 3 Inputs
September 30, 2022
($ in thousands)Obligations of States and Political SubdivisionsCorporate SecuritiesCLO and Other ABSRMBSCMBSTotal
Fair value, December 31, 2021
$7,745 114,127 124,909 245 4,256 251,282 
Total net (losses) gains for the period included in:
Other comprehensive income ("OCI")(879)(23,847)(11,436)(17)(477)(36,656)
   Net realized and unrealized (losses) gains(155)(2,345)(771)— (7)(3,278)
Net investment income earned— 49 127 — 46 222 
Purchases— 74,327 44,167 — — 118,494 
Sales— — — — — — 
Issuances— — — — — — 
Settlements— (8,663)(6,678)(11)(15)(15,367)
Transfers into Level 3— 19,214 — — — 19,214 
Transfers out of Level 3— (7,038)(24,646)(217)(3,430)(35,331)
Fair value, September 30, 2022
$6,711 165,824 125,672 — 373 298,580 
Change in unrealized losses for the period included in earnings for assets held at period end(155)(2,330)(771)— (7)(3,263)
Change in unrealized losses for the period included in OCI for assets held at period end(879)(23,852)(11,395)(17)(477)(36,620)
September 30, 2021
($ in thousands)Obligation of state and Political SubdivisionsCorporate SecuritiesCLO and Other ABSTotal
Fair value, December 31, 2020
$2,894 70,700 56,375 129,969 
Total net (losses) gains for the period included in:
OCI9 2,607 206 2,822 
Net realized and unrealized (losses) gains— (185)(35)(220)
Net investment income earned— 14 9 23 
Purchases— 43,833 19,041 62,874 
Sales— — — — 
Issuances— — — — 
Settlements— (210)(1,750)(1,960)
Transfers into Level 35,101 981 3,226 9,308 
Transfers out of Level 3— (7,454)(14,643)(22,097)
Fair value, September 30, 2021
$8,004 110,286 62,429 180,719 
Change in unrealized (losses) gains for the period included in earnings for assets held at period end— (185)(35)(220)
Change in unrealized gains (losses) for the period included in OCI for assets held at period end9 2,607 206 2,822 
Schedule of quantitative information about significant unobservable inputs utilized in the fair value measurements of Level 3 assets.
September 30, 2022
($ in thousands)Assets Measured at Fair ValueValuation TechniquesUnobservable InputsRange Weighted Average
Internal valuations:
Corporate securities$77,424 Discounted Cash FlowIlliquidity Spread
(4.4)% - 19.6%
1.8%
CLO and other ABS40,883 Discounted Cash FlowIlliquidity Spread
0.01% - 8.0%
1.9%
Total internal valuations118,307 
Other1
180,273 
Total Level 3 securities$298,580 

December 31, 2021
($ in thousands)Assets Measured at Fair ValueValuation TechniquesUnobservable InputsRangeWeighted Average
Internal valuations:
Corporate securities$54,135 Discounted Cash FlowIlliquidity Spread
0.3% - 3.0%
1.2%
CLO and other ABS34,903 Discounted Cash FlowIlliquidity Spread
0.7% - 8.0%
2.1%
Total internal valuations89,038 
Other1
162,244 
Total Level 3 securities$251,282 
1Other is comprised of broker quotes or other third-party pricing for which there is a lack of transparency into the inputs used to develop the valuations. The quantitative details of these unobservable inputs is neither provided to us, nor reasonably available to us, and therefore are not included in the tables above.
Schedule of Quantitative Information of Our Financial Assets and Liabilities That Were Disclosed at Fair Value
September 30, 2022 Fair Value Measurements Using
($ in thousands)Assets/
Liabilities
Disclosed at
Fair Value		Quoted Prices in
 Active Markets for
 Identical Assets/
Liabilities
(Level 1)		Significant Other
Observable Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Financial Assets    
HTM:    
Obligations of states and political subdivisions$3,424 — 3,424 — 
Corporate securities28,058 — 28,058 — 
Total HTM fixed income securities$31,482 — 31,482 — 
CMLs$136,652 — — 136,652 
Financial Liabilities    
Long-term debt:
7.25% Senior Notes$50,225 — 50,225 — 
6.70% Senior Notes97,098 — 97,098 — 
5.375% Senior Notes255,216 — 255,216 — 
3.03% borrowings from FHLBI57,025 — 57,025 — 
Total long-term debt$459,564 — 459,564 — 

December 31, 2021 Fair Value Measurements Using
($ in thousands)Assets/
Liabilities
Disclosed at
Fair Value		Quoted Prices in
 Active Markets for
 Identical Assets/
Liabilities
(Level 1)		Significant Other
Observable Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Financial Assets    
HTM:    
Obligations of states and political subdivisions$3,576 — 3,576 — 
Corporate securities25,884 — 25,884 — 
Total HTM fixed income securities$29,460 — 29,460 — 
CMLs$97,598 — — 97,598 
Financial Liabilities    
Long-term debt:
7.25% Senior Notes$63,719 — 63,719 — 
6.70% Senior Notes127,574 — 127,574 — 
5.375% Senior Notes395,652 — 395,652 — 
3.03% borrowings from FHLBI64,126 — 64,126 — 
Total long-term debt$651,071 — 651,071 —