v3.25.2
Operating Segment Information - Operating Results by Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue        
Net premiums earned $ 401,904 $ 379,065 $ 800,249 $ 739,741
Net investment income 39,418 33,961 76,144 66,808
Net realized gains (losses) 15,004 (192) 29,916 5,802
Net unrealized gains on equity securities 43,500 3,608 1,182 48,922
Consolidated revenue 499,826 416,442 907,491 861,273
Less: Expenses        
Losses and settlement expenses 184,578 167,799 361,816 311,623
Insurance operating expenses 29,594 27,321 56,468 56,024
Earnings before income taxes 156,515 103,303 235,146 263,294
Reconciliation of earnings before income taxes        
Net investment income 39,418 33,961 76,144 66,808
Net realized gains 15,004 (192) 29,916 5,802
Net unrealized gains (losses) on equity securities 43,500 3,608 1,182 48,922
Interest expense on debt (1,350) (1,604) (2,685) (3,222)
General corporate expense (4,754) (4,140) (7,702) (9,150)
Equity in earnings of unconsolidated investees 2,467 1,646 5,515 6,415
Casualty Segment        
Revenue        
Net premiums earned 234,638 209,100 463,686 407,376
Property Segment        
Revenue        
Net premiums earned 130,664 134,097 263,208 263,508
Surety Segment        
Revenue        
Net premiums earned 36,602 35,868 73,355 68,857
Operating Segments        
Revenue        
Net premiums earned 401,904 379,065 800,249 739,741
Net investment income 39,418 33,961 76,144 66,808
Net realized gains (losses) 15,004 (192) 29,916 5,802
Net unrealized gains on equity securities 43,500 3,608 1,182 48,922
Consolidated revenue 499,826 416,442 907,491 861,273
Less: Expenses        
Earnings before income taxes 62,230 70,024 132,776 147,719
Reconciliation of earnings before income taxes        
Net investment income 39,418 33,961 76,144 66,808
Net realized gains 15,004 (192) 29,916 5,802
Net unrealized gains (losses) on equity securities 43,500 3,608 1,182 48,922
Operating Segments | Casualty Segment        
Revenue        
Net premiums earned 234,638 209,100 463,686 407,376
Consolidated revenue 234,638 209,100 463,686 407,376
Less: Expenses        
Losses and settlement expenses 141,260 121,850 287,095 231,322
Amortization of deferred acquisition costs 45,761 39,904 88,664 76,739
Other policy acquisition costs 22,067 21,256 44,736 42,855
Insurance operating expenses 17,261 15,775 32,831 32,471
Earnings before income taxes 8,289 10,315 10,360 23,989
Reconciliation of earnings before income taxes        
Depreciation and amortization expense 1,544 1,391 3,049 2,800
Operating Segments | Property Segment        
Revenue        
Net premiums earned 130,664 134,097 263,208 263,508
Consolidated revenue 130,664 134,097 263,208 263,508
Less: Expenses        
Losses and settlement expenses 38,459 41,382 71,184 73,959
Amortization of deferred acquisition costs 26,698 27,046 53,674 53,265
Other policy acquisition costs 7,320 4,227 15,277 8,642
Insurance operating expenses 8,676 8,262 16,647 16,746
Earnings before income taxes 49,511 53,180 106,426 110,896
Reconciliation of earnings before income taxes        
Depreciation and amortization expense 521 469 1,019 921
Operating Segments | Surety Segment        
Revenue        
Net premiums earned 36,602 35,868 73,355 68,857
Consolidated revenue 36,602 35,868 73,355 68,857
Less: Expenses        
Losses and settlement expenses 4,859 4,567 3,537 6,342
Amortization of deferred acquisition costs 12,656 11,827 25,258 23,103
Other policy acquisition costs 11,000 9,661 21,580 19,771
Insurance operating expenses 3,657 3,284 6,990 6,807
Earnings before income taxes 4,430 6,529 15,990 12,834
Reconciliation of earnings before income taxes        
Depreciation and amortization expense 359 253 669 512
Corporate        
Revenue        
Net investment income 39,418 33,961 76,144 66,808
Net realized gains (losses) 15,004 (192) 29,916 5,802
Net unrealized gains on equity securities 43,500 3,608 1,182 48,922
Reconciliation of earnings before income taxes        
Net investment income 39,418 33,961 76,144 66,808
Net realized gains 15,004 (192) 29,916 5,802
Net unrealized gains (losses) on equity securities 43,500 3,608 1,182 48,922
Interest expense on debt (1,350) (1,604) (2,685) (3,222)
General corporate expense (4,754) (4,140) (7,702) (9,150)
Equity in earnings of unconsolidated investees $ 2,467 $ 1,646 $ 5,515 $ 6,415