Other Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2026

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

The pretax and related income tax benefit (expense) components of our other comprehensive income (loss) for the three and six months ended June 30, 2026 and 2025 are included in table 9.1 below.


Components of Other Comprehensive Income (Loss)
Table	9.1
		Three Months Ended June 30,				Six Months Ended June 30,
(In thousands)		2026		2025		2026		2025
Net unrealized investment (losses) gains arising during the period		$	(1,887)	$	36,105	$	(43,960)	$	101,511
Total income tax benefit (expense)		396		(7,582)		9,231		(21,317)
Net of tax		(1,491)		28,523		(34,729)		80,194

Net changes in benefit plan assets and obligations		190		3,738		380		3,796
Total income tax benefit (expense)		(40)		(785)		(80)		(797)
Net of tax		150		2,953		300		2,999

Total other comprehensive income (loss)		$	(1,697)	39,843		(43,580)		105,307
Total income tax benefit (expense)		356		(8,367)		9,151		(22,114)
Total other comprehensive income (loss), net of tax		$	(1,341)	$	31,476	$	(34,429)	$	83,193

Reclassification out of accumulated other comprehensive income

The pretax and related income tax benefit (expense) components of the amounts reclassified from our accumulated other comprehensive income (loss) (“AOCI”) to our consolidated statements of operations for the three and six months ended June 30, 2026 and 2025 are included in table 9.2 below.


Reclassifications from AOCI
Table	9.2
		Three Months Ended June 30,				Six Months Ended June 30,
(In thousands)		2026		2025		2026		2025
Reclassification adjustment for net realized (losses) gains (1)		$	(2,747)	$	(4,432)	$	(2,845)	$	(10,413)
Income tax benefit (expense)		577		931		598		2,187
Net of tax		(2,170)		(3,501)		(2,247)		(8,226)

Reclassification adjustment related to benefit plan assets and obligations (2)		(190)		(3,738)		(380)		(3,796)
Income tax benefit (expense)		40		785		80		797
Net of tax		(150)		(2,953)		(300)		(2,999)

Total reclassifications		(2,937)		(8,170)		(3,225)		(14,209)
Income tax benefit (expense)		617		1,716		678		2,984
Total reclassifications, net of tax		$	(2,320)	$	(6,454)	$	(2,547)	$	(11,225)

(1)Increases (decreases) Net realized investment gains (losses) on the consolidated statements of operations.

(2)Decreases (increases) Other underwriting and operating expenses, net on the consolidated statements of operations.

Accumulated other comprehensive income (loss)

A rollforward of AOCI for the six months ended June 30, 2026, including amounts reclassified from AOCI, are included in table 9.3 below.


Rollforward of AOCI
Table	9.3
		Six Months Ended June 30, 2026
(In thousands)		Net unrealized gains and (losses) on available-for-sale securities		Net benefit plan assets and (obligations) recognized in shareholders' equity		Total accumulated other comprehensive income (loss)
Balance at December 31, 2025, net of tax		$	(120,686)	$	(13,708)	$	(134,394)
Other comprehensive income (loss) before reclassifications		(36,976)		—		(36,976)
Less: Amounts reclassified from AOCI		(2,247)		(300)		(2,547)
Balance, June 30, 2026, net of tax		$	(155,415)	$	(13,408)	$	(168,823)