Segment Information

12 Months Ended

Dec. 31, 2022

Segment Information [Abstract]

Segment Information

19 - Segment Information

We have three reportable segments, which consist of our investment function, our commercial lines of insurance and our personal lines of insurance. Using independent agents, our insurance subsidiaries market commercial lines of insurance to small and medium-sized businesses and personal lines of insurance to individuals.

We evaluate the performance of the commercial lines and personal lines primarily based upon our insurance subsidiaries’ underwriting results as determined under SAP for our total business.

We do not allocate assets to the commercial and personal lines and review the two segments in total for purposes of decision-making. We operate only in the United States, and no single customer or agent provides 10 percent or more of our revenues.

Financial data by segment is as follows:

	2022			2021		2020
	(in thousands)
Revenues:
Premiums earned:
Commercial lines	$	510,153		$	468,433	$	412,877
Personal lines		312,337			307,582		329,163
GAAP premiums earned		822,490			776,015		742,040
Net investment income		34,016			31,126		29,504
Investment (losses) gains		(10,185	)		6,477		2,778
Other		1,900			2,848		3,497
Total revenues	$	848,221		$	816,466	$	777,819

	2022			2021			2020
	(in thousands)
(Loss) income before income taxes:
Underwriting (loss) income:
Commercial lines	$	(22,665	)	$	(35,174	)	$	(858	)
Personal lines		(13,506	)		17,235			31,764
SAP underwriting (loss) income		(36,171	)		(17,939	)		30,906
GAAP adjustments		8,667			9,945			(959	)
GAAP underwriting (loss) income		(27,504	)		(7,994	)		29,947
Net investment income		34,016			31,126			29,504
Investment (losses) gains		(10,185	)		6,477			2,778
Other		35			730			1,043
(Loss) income before income taxes	$	(3,638	)	$	30,339		$	63,272