| Financial Data by Segment |
Financial data by segment is as follows:
| |
|
Three Months Ended June 30, 2026
|
|
| |
|
Investments
|
|
|
Commercial
Lines
|
|
|
Personal
Lines
|
|
|
Total
|
|
| |
|
(in thousands)
|
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net premiums earned
|
|
|
|
|
$
|
141,516 |
|
|
$
|
81,058 |
|
|
$
|
222,574 |
|
|
Net investment income
|
|
|
14,491 |
|
|
|
— |
|
|
|
— |
|
|
|
14,491 |
|
|
Investment gains
|
|
|
3,267 |
|
|
|
— |
|
|
|
— |
|
|
|
3,267 |
|
|
Total segment revenues
|
|
|
17,758 |
|
|
|
141,516 |
|
|
|
81,058 |
|
|
|
240,332 |
|
|
Other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
787 |
|
|
Total revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
241,119 |
|
|
Segment expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net losses and loss expenses
|
|
|
— |
|
|
|
89,431 |
|
|
|
42,440 |
|
|
|
131,871 |
|
|
Other underwriting expenses
|
|
|
— |
|
|
|
54,706 |
|
|
|
24,581 |
|
|
|
79,287 |
|
|
Policyholder dividends
|
|
|
— |
|
|
|
560 |
|
|
|
— |
|
|
|
560 |
|
|
Total segment expenses
|
|
|
— |
|
|
|
144,697 |
|
|
|
67,021 |
|
|
|
211,718 |
|
|
SAP underwriting (loss) income
|
|
|
— |
|
|
|
(3,181 |
)
|
|
|
14,037 |
|
|
|
10,856 |
|
|
GAAP adjustments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1,083 |
)
|
|
GAAP underwriting income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,773 |
|
|
Net investment income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14,491 |
|
|
Investment gains
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,267 |
|
|
Other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
17 |
|
|
Income before income tax expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
27,548 |
|
| |
|
Three Months Ended June 30, 2025
|
|
| |
|
Investments
|
|
|
Commercial
Lines
|
|
|
Personal
Lines
|
|
|
Total
|
|
| |
|
(in thousands)
|
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net premiums earned
|
|
$
|
— |
|
|
$
|
138,527 |
|
|
$
|
93,248 |
|
|
$
|
231,775 |
|
|
Net investment income
|
|
|
12,540 |
|
|
|
— |
|
|
|
— |
|
|
|
12,540 |
|
|
Investment gains
|
|
|
1,544 |
|
|
|
— |
|
|
|
— |
|
|
|
1,544 |
|
|
Total segment revenues
|
|
|
14,084 |
|
|
|
138,527 |
|
|
|
93,248 |
|
|
|
245,859 |
|
|
Other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,289 |
|
|
Total revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
247,148 |
|
|
Segment expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net losses and loss expenses
|
|
|
— |
|
|
|
91,518 |
|
|
|
59,990 |
|
|
|
151,508 |
|
|
Other underwriting expenses
|
|
|
— |
|
|
|
49,982 |
|
|
|
24,918 |
|
|
|
74,900 |
|
|
Policyholder dividends
|
|
|
— |
|
|
|
819 |
|
|
|
— |
|
|
|
819 |
|
|
Total segment expenses
|
|
|
— |
|
|
|
142,319 |
|
|
|
84,908 |
|
|
|
227,227 |
|
|
SAP underwriting (loss) income
|
|
|
— |
|
|
|
(3,792 |
)
|
|
|
8,340 |
|
|
|
4,548 |
|
|
GAAP adjustments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
840 |
|
|
GAAP underwriting income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,388 |
|
|
Net investment income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12,540 |
|
|
Investment gains
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,544 |
|
|
Other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
952 |
|
|
Income before income tax expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
20,424 |
|
| |
|
Six Months Ended June 30, 2026
|
|
| |
|
Investments
|
|
|
Commercial
Lines
|
|
|
Personal
Lines
|
|
|
Total
|
|
| |
|
(in thousands)
|
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net premiums earned
|
|
$
|
— |
|
|
$
|
280,480 |
|
|
$
|
163,452 |
|
|
$
|
443,932 |
|
|
Net investment income
|
|
|
28,778 |
|
|
|
— |
|
|
|
— |
|
|
|
28,778 |
|
|
Investment gains
|
|
|
2,788 |
|
|
|
— |
|
|
|
— |
|
|
|
2,788 |
|
|
Total segment revenues
|
|
|
31,566 |
|
|
|
280,480 |
|
|
|
163,452 |
|
|
|
475,498 |
|
|
Other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,617 |
|
|
Total revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
477,115 |
|
|
Segment expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net losses and loss expenses
|
|
|
— |
|
|
|
184,789 |
|
|
|
88,549 |
|
|
|
273,338 |
|
|
Other underwriting expenses
|
|
|
— |
|
|
|
113,188 |
|
|
|
47,478 |
|
|
|
160,666 |
|
|
Policyholder dividends
|
|
|
— |
|
|
|
1,212 |
|
|
|
—
|
|
|
|
1,212 |
|
|
Total segment expenses
|
|
|
— |
|
|
|
299,189 |
|
|
|
136,027 |
|
|
|
435,216 |
|
|
SAP underwriting (loss) income
|
|
|
— |
|
|
|
(18,709 |
)
|
|
|
27,425 |
|
|
|
8,716 |
|
|
GAAP adjustments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,452 |
|
|
GAAP underwriting income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,168 |
|
|
Net investment income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
28,778 |
|
|
Investment gains
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,788 |
|
|
Other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(63 |
)
|
|
Income before income tax expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
41,671 |
|
| |
|
Six Months Ended June 30, 2025
|
|
| |
|
Investments
|
|
|
Commercial
Lines
|
|
|
Personal
Lines
|
|
|
Total
|
|
| |
|
(in thousands)
|
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net premiums earned
|
|
$
|
— |
|
|
$
|
274,743 |
|
|
$
|
189,733 |
|
|
$
|
464,476 |
|
|
Net investment income
|
|
|
24,524 |
|
|
|
— |
|
|
|
— |
|
|
|
24,524 |
|
|
Investment gains
|
|
|
1,073 |
|
|
|
— |
|
|
|
— |
|
|
|
1,073 |
|
|
Total segment revenues
|
|
|
25,597 |
|
|
|
274,743 |
|
|
|
189,733 |
|
|
|
490,073 |
|
|
Other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,880 |
|
|
Total revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
491,953 |
|
|
Segment expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net losses and loss expenses
|
|
|
— |
|
|
|
172,839 |
|
|
|
110,698 |
|
|
|
283,537 |
|
|
Other underwriting expenses
|
|
|
— |
|
|
|
105,492 |
|
|
|
52,403 |
|
|
|
157,895 |
|
|
Policyholder dividends
|
|
|
— |
|
|
|
1,578 |
|
|
|
— |
|
|
|
1,578 |
|
|
Total segment expenses
|
|
|
— |
|
|
|
279,909 |
|
|
|
163,101 |
|
|
|
443,010 |
|
|
SAP underwriting (loss) income
|
|
|
— |
|
|
|
(5,166 |
)
|
|
|
26,632 |
|
|
|
21,466 |
|
|
GAAP adjustments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,405 |
|
|
GAAP underwriting income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
24,871 |
|
|
Net investment income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
24,524 |
|
|
Investment gains
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,073 |
|
|
Other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,117 |
|
|
Income before income tax expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
51,585 |
|
|