United Fire (UFCS) 10-Q 2 Nov 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2023	Nov. 01, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-34257
Entity Registrant Name	UNITED FIRE GROUP, INC
Entity Incorporation, State or Country Code	IA
Entity Tax Identification Number	45-2302834
Entity Address, Address Line One	118 Second Avenue SE
Entity Address, City or Town	Cedar Rapids
Entity Address, State or Province	IA
Entity Address, Postal Zip Code	52401
City Area Code	319
Local Phone Number	399-5700
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	UFCS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		25,265,351
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000101199
Current Fiscal Year End Date	--12-31

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fixed maturities
Available-for-sale, at fair value (amortized cost $1,794,325 in 2023 and $1,662,680 in 2022)	$ 1,638,512	$ 1,551,336
Equity securities at fair value (cost $29,238 in 2023 and $75,292 in 2022)	51,217	169,106
Mortgage loans	45,589	37,947
Less: allowance for mortgage loan losses	55	49
Mortgage loans, net	45,534	37,898
Other long-term investments	93,836	86,276
Short-term investments	0	275
Total investments	1,829,099	1,844,891
Cash and cash equivalents	69,150	96,650
Accrued investment income	17,269	14,480
Premiums receivable (net of allowance for doubtful accounts of $1,768 in 2023 and $1,575 in 2022)	475,632	365,729
Deferred policy acquisition costs	125,292	104,225
Property and equipment (primarily land and buildings, at cost, less accumulated depreciation of $66,257 in 2023 and $59,566 in 2022)	133,887	133,113
Reinsurance receivables and recoverables (net of allowance for credit losses of $130 in 2023 and $82 in 2022)	211,645	170,953
Prepaid reinsurance premiums	21,425	11,300
Intangible assets	4,793	5,324
Deferred tax asset	36,591	15,531
Income taxes receivable	36,469	31,418
Other assets	90,527	88,672
TOTAL ASSETS	3,051,779	2,882,286
Liabilities
Losses and loss settlement expenses	1,636,918	1,497,274
Unearned premiums	560,663	474,388
Accrued expenses and other liabilities	159,261	120,510
Long term debt	50,000	50,000
TOTAL LIABILITIES	2,406,842	2,142,172
Stockholders’ Equity
Common stock, $0.001 par value; authorized 75,000,000 shares; 25,263,742 and 25,210,541 shares issued and outstanding in 2023 and 2022, respectively	25	25
Additional paid-in capital	209,931	207,030
Retained earnings	559,126	620,555
Accumulated other comprehensive income, net of tax	(124,145)	(87,496)
TOTAL STOCKHOLDERS’ EQUITY	644,937	740,114
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 3,051,779	$ 2,882,286

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Available-for-sale, amortized cost	$ 1,794,325	$ 1,662,680
Equity securities, cost	29,238	75,292
Allowance for doubtful accounts	1,768	1,575
Property and equipment accumulated depreciation	66,257	59,566
Reinsurance receivables and recoverables, allowance for credit losses	$ 130	$ 82
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	75,000,000	75,000,000
Common stock, shares issued (in shares)	25,263,742	25,210,541
Common stock, shares outstanding (in shares)	25,263,742	25,210,541

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenues
Net premiums earned	$ 259,456	$ 238,256	$ 770,221	$ 703,746
Investment income, net of investment expenses	16,459	11,606	40,508	32,062
Net investment gains (losses) (includes reclassifications for net unrealized investment gains (losses) on available-for-sale securities of $(79) and $(771) in 2023 and $(1,079) and $(1,478) in 2022; previously included in accumulated other comprehensive income (loss))	(1,960)	(14,250)	(2,581)	(35,647)
Other income (loss)	0	(39)	0	(38)
Total revenues	273,955	235,573	808,148	700,123
Benefits, Losses and Expenses
Losses and loss settlement expenses	172,798	182,411	598,125	464,295
Amortization of deferred policy acquisition costs	62,709	53,107	181,700	156,116
Other underwriting expenses (includes reclassifications for employee benefit costs of $51 and $155 in 2023 and $900 and $2,700 in 2022; previously included in accumulated other comprehensive income (loss))	29,275	30,487	89,784	87,885
Interest expense	797	797	2,391	2,391
Total benefits, losses and expenses	265,579	266,802	872,000	710,687
Income (loss) before income taxes	8,376	(31,229)	(63,852)	(10,564)
Federal income tax expense (benefit) (includes reclassifications of $28 and $195 in 2023 and $416 and $877 in 2022; previously included in accumulated other comprehensive income (loss))	1,996	(8,248)	(14,544)	(5,475)
Net Income (loss)	6,380	(22,981)	(49,308)	(5,089)
Other comprehensive income (loss)
Change in net unrealized appreciation on investments	(43,245)	(65,415)	(44,857)	(199,071)
Change in liability for underfunded employee benefit plans	(820)	(4,591)	(2,460)	(13,774)
Other comprehensive income (loss), before tax and reclassification adjustments	(44,065)	(70,006)	(47,317)	(212,845)
Income tax effect	9,253	14,701	9,937	44,697
Other comprehensive income (loss), after tax, before reclassification adjustments	(34,812)	(55,305)	(37,380)	(168,148)
Reclassification adjustment for net investment losses included in income	79	1,079	771	1,478
Reclassification adjustment for employee benefit costs included in expense	51	900	155	2,700
Total reclassification adjustments, before tax	130	1,979	926	4,178
Income tax effect	(28)	(416)	(195)	(877)
Total reclassification adjustments, after tax	102	1,563	731	3,301
Comprehensive income (loss)	$ (28,330)	$ (76,723)	$ (85,957)	$ (169,936)
Diluted weighted average common shares outstanding (in shares)	25,579,334	25,188,958	25,244,502	25,146,318
Earnings per common share:
Basic (in dollars per share)	$ 0.25	$ (0.91)	$ (1.95)	$ (0.20)
Diluted (in dollars per share)	$ 0.25	$ (0.91)	$ (1.95)	$ (0.20)

Consolidated Statements of In_2

Consolidated Statements of Income and Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Reclassification adjustment for net realized gains (losses) included in income	$ (79)	$ (1,079)	$ (771)	$ (1,478)
Reclassification adjustment for employee benefit costs included in expense	(51)	(900)	(155)	(2,700)
Income tax effect	$ 28	$ 416	$ 195	$ 877

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands		Total	Common Stock	Additional paid-in capital	Retaining Earnings	Accumulated other comprehensive income
Balance, beginning (in shares) at Dec. 31, 2021			25,082,104
Beginning balance at Dec. 31, 2021		$ 879,121	$ 25	$ 203,375	$ 621,384	$ 54,337
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		28,349			28,349
Stock based compensation (in shares)			37,140
Stock based compensation		631		631
Dividends on common stock		(3,767)			(3,767)
Change in net unrealized investment appreciation (depreciation)	[1]	(65,793)				(65,793)
Change in liability for underfunded employee benefit plans	[2]	(2,916)				(2,916)
Balance, ending (in shares) at Mar. 31, 2022			25,119,244
Ending balance at Mar. 31, 2022		835,625	$ 25	204,006	645,966	(14,372)
Balance, beginning (in shares) at Dec. 31, 2021			25,082,104
Beginning balance at Dec. 31, 2021		879,121	$ 25	203,375	621,384	54,337
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		(5,089)
Balance, ending (in shares) at Sep. 30, 2022			25,191,414
Ending balance at Sep. 30, 2022		700,795	$ 25	206,811	604,469	(110,510)
Balance, beginning (in shares) at Mar. 31, 2022			25,119,244
Beginning balance at Mar. 31, 2022		835,625	$ 25	204,006	645,966	(14,372)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		(10,457)			(10,457)
Stock based compensation (in shares)			67,404
Stock based compensation		2,159		2,159
Dividends on common stock		(4,028)			(4,028)
Change in net unrealized investment appreciation (depreciation)	[1]	(39,480)				(39,480)
Change in liability for underfunded employee benefit plans	[2]	(2,916)				(2,916)
Balance, ending (in shares) at Jun. 30, 2022			25,186,648
Ending balance at Jun. 30, 2022		780,903	$ 25	206,165	631,481	(56,768)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		(22,981)			(22,981)
Stock based compensation (in shares)			4,766
Stock based compensation		646		646
Dividends on common stock		(4,031)			(4,031)
Change in net unrealized investment appreciation (depreciation)	[1]	(50,826)				(50,826)
Change in liability for underfunded employee benefit plans	[2]	(2,916)				(2,916)
Balance, ending (in shares) at Sep. 30, 2022			25,191,414
Ending balance at Sep. 30, 2022		$ 700,795	$ 25	206,811	604,469	(110,510)
Balance, beginning (in shares) at Dec. 31, 2022		25,210,541	25,210,541
Beginning balance at Dec. 31, 2022		$ 740,114	$ 25	207,030	620,555	(87,496)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		694			694
Stock based compensation (in shares)			21,012
Stock based compensation		980		980
Dividends on common stock		(4,037)			(4,037)
Change in net unrealized investment appreciation (depreciation)	[3]	14,650				14,650
Change in liability for underfunded employee benefit plans	[4]	(607)				(607)
Balance, ending (in shares) at Mar. 31, 2023			25,231,553
Ending balance at Mar. 31, 2023		$ 751,795	$ 25	208,010	617,213	(73,453)
Balance, beginning (in shares) at Dec. 31, 2022		25,210,541	25,210,541
Beginning balance at Dec. 31, 2022		$ 740,114	$ 25	207,030	620,555	(87,496)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		$ (49,308)
Balance, ending (in shares) at Sep. 30, 2023		25,263,742	25,263,742
Ending balance at Sep. 30, 2023		$ 644,937	$ 25	209,931	559,126	(124,145)
Balance, beginning (in shares) at Mar. 31, 2023			25,231,553
Beginning balance at Mar. 31, 2023		751,795	$ 25	208,010	617,213	(73,453)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		(56,382)			(56,382)
Stock based compensation (in shares)			31,396
Stock based compensation		977		977
Dividends on common stock		(4,042)			(4,042)
Change in net unrealized investment appreciation (depreciation)	[3]	(15,376)				(15,376)
Change in liability for underfunded employee benefit plans	[4]	(606)				(606)
Balance, ending (in shares) at Jun. 30, 2023			25,262,949
Ending balance at Jun. 30, 2023		676,365	$ 25	208,987	556,788	(89,435)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		6,380			6,380
Stock based compensation (in shares)			793
Stock based compensation		944		944
Dividends on common stock		(4,042)			(4,042)
Change in net unrealized investment appreciation (depreciation)	[3]	(34,103)				(34,103)
Change in liability for underfunded employee benefit plans	[4]	$ (607)				(607)
Balance, ending (in shares) at Sep. 30, 2023		25,263,742	25,263,742
Ending balance at Sep. 30, 2023		$ 644,937	$ 25	$ 209,931	$ 559,126	$ (124,145)
[1]The change in net unrealized appreciation (depreciation) is net of reclassification adjustments and income taxes.[2]The change in liability for underfunded employee benefit plans is net of reclassification adjustments and income taxes.[3]The change in net unrealized appreciation (depreciation) is net of reclassification adjustments and income taxes.[4]The change in liability for underfunded employee benefit plans is net of reclassification adjustments and income taxes.

Consolidated Statement of Sto_2

Consolidated Statement of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends on common stock (in dollars per share)	$ 0.16	$ 0.16	$ 0.16	$ 0.15	$ 0.15	$ 0.15

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash Flows From Operating Activities
Net income	$ (49,308)	$ (5,089)
Adjustments to reconcile net income to net cash provided by (used in) operating activities
Net accretion of bond premium	5,238	6,969
Depreciation and amortization	7,841	8,079
Stock-based compensation expense	3,124	2,590
Net investment (gains) losses	2,384	35,647
Net cash flows from equity and trading investments	116,080	29,725
Deferred income tax expense (benefit)	(11,633)	(9,224)
Changes in:
Accrued investment income	(2,789)	(1,773)
Premiums receivable	(109,903)	(57,570)
Deferred policy acquisition costs	(21,067)	(14,930)
Reinsurance receivables	(40,692)	(28,145)
Prepaid reinsurance premiums	(10,125)	(2,814)
Income taxes receivable	(5,051)	(7,215)
Other assets	(1,596)	6,758
Losses and loss settlement expenses	139,644	(49,757)
Unearned premiums	86,275	48,560
Accrued expenses and other liabilities	36,446	1,403
Other, net	4,638	6,993
Cash from operating activities	198,814	(24,704)
Net cash provided by (used in) operating activities	149,506	(29,793)
Cash Flows From Investing Activities
Proceeds from sale of available-for-sale investments	48,749	83,409
Proceeds from call and maturity of available-for-sale investments	46,397	145,618
Proceeds from sale of other investments	3,482	3,243
Purchase of investments in mortgage loans	(8,137)	(103)
Purchase of investments available-for-sale	(232,216)	(262,359)
Purchase of other investments	(14,899)	(5,447)
Net purchases and sales of property and equipment	(8,037)	(2,675)
Net cash provided by (used in) investing activities	(164,661)	(38,314)
Cash Flows From Financing Activities
Issuance of common stock	(223)	846
Payment of cash dividends	(12,122)	(11,826)
Net cash provided by (used in) financing activities	(12,345)	(10,980)
Net Change in Cash and Cash Equivalents	(27,500)	(79,087)
Cash and Cash Equivalents at Beginning of Period	96,650	132,104
Cash and Cash Equivalents at End of Period	69,150	53,017
Supplemental Disclosures of Cash Flow Information
Income taxes paid	1,336	21,537
Interest paid	$ 2,391	$ 2,391

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Basis of Presentation	NATURE OF OPERATIONS AND BASIS OF PRESENTATION Nature of Business United Fire Group, Inc. ("UFG," the "Registrant," the "Company," "we," "us," or "our") and its consolidated subsidiaries and affiliates are engaged in the business of writing property and casualty insurance through a network of independent agencies. Our insurance company subsidiaries are licensed as property and casualty insurers in 50 states and the District of Columbia. Basis of Presentation The unaudited consolidated interim financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial reporting and with the instructions to Form 10-Q and Regulation S-X promulgated by the SEC. Certain financial information that is included in our Annual Report on Form 10-K/A for the year ended December 31, 2022, including certain financial statement footnote disclosures, is not required by the rules and regulations of the SEC for interim financial reporting and has been condensed or omitted. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The financial statement categories that are most dependent on management estimates and assumptions include: investments; deferred policy acquisition costs; reinsurance receivables and recoverables; loss settlement expenses; and pension and postretirement benefit obligations. Management believes the accompanying unaudited Consolidated Financial Statements contain all adjustments (consisting of normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows for the periods presented. All significant intercompany transactions have been eliminated in consolidation. The results reported for the interim periods are not necessarily indicative of the results of operations that may be expected for the year. The unaudited Consolidated Financial Statements should be read in conjunction with our Annual Report on Form 10-K/A for the year ended December 31, 2022. Segment Information Our property and casualty insurance business is reported as one business segment. The property and casualty insurance business profit or loss is consistent with consolidated reporting as disclosed on the Consolidated Statements of Income and Comprehensive Income. We analyze the property and casualty insurance business results based on profitability (i.e., loss ratios), expenses and return on equity. The Company's property and casualty insurance business was determined using a management approach to make decisions on operating matters, including allocating resources, assessing performance, determining which products to market and sell, determining distribution networks with insurance agents and monitoring the regulatory environment. The property and casualty insurance business products have similar economic characteristics and use a similar marketing and distribution strategy with our independent agents. We will continue to evaluate our operations on the basis of both statutory accounting principles prescribed or permitted by our states of domicile and GAAP. Lloyd's Syndicates On January 1, 2021, the Company became a member of Lloyd's of London ("Lloyd's") through McIntyre Cedar Corporate Member LLP. As a member of Lloyd's, the Company is required to maintain capital at Lloyd's, referred to as Funds at Lloyd's ("FAL"), to support underwriting of property and casualty and reinsurance business by Syndicate 1492, Syndicate 1729, Syndicate 1969, Syndicate 1971, Syndicate 4747, Syndicate 2988, Syndicate 1699 and Syndicate 5623. At September 30, 2023, the Company's FAL investments were comprised of cash of $24,383 on deposit with Lloyd's in order to satisfy these FAL requirements. Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents include cash, money market accounts, cash on deposit and held at Lloyd's and non-negotiable certificates of deposit with original maturities of three months or less. Deferred Policy Acquisition Costs ("DAC") Certain costs associated with underwriting new business (primarily commissions, premium taxes and variable underwriting and policy issue expenses associated with successful acquisition efforts) are deferred. The following table is a summary of the components of DAC, including the related amortization recognized for the nine-month period ended September 30, 2023. Total Recorded asset at beginning of period $ 104,225 Underwriting costs deferred 202,768 Amortization of deferred policy acquisition costs (181,700) Recorded asset at September 30, 2023 $ 125,292 Property and casualty insurance policy acquisition costs deferred are amortized as premium revenue is recognized. The method followed in computing DAC limits the amount of such deferred costs to their estimated realizable value. This takes into account the premium to be earned, losses and loss settlement expenses expected to be incurred and certain other costs expected to be incurred as the premium is earned. Other Intangible Assets Our other intangible assets, which consist primarily of agency relationships, trade names, state insurance licenses, and software, are being amortized using the straight-line method over periods ranging from two years to 15 years, with the exception of state insurance licenses, which are indefinite-lived and not amortized. Long Term Debt The Company executed a private placement debt transaction on December 15, 2020 between United Fire & Casualty Company ("UF&C"), and Federated Mutual Insurance Company, a mutual insurance company domiciled in Minnesota ("Federated Mutual"), and Federated Life Insurance Company, an insurance company domiciled in Minnesota ("Federated Life" and, together with Federated Mutual, the "Note Purchasers"). UF&C sold an aggregate principal amount of $50,000 of notes due 2040 to the Note Purchasers. One note with a principal amount of $35,000 was issued to Federated Mutual and one note with a principal amount of $15,000 was issued to Federated Life subject to the terms of their respective notes. The notes are presented as a long term debt liability in the Consolidated Balance Sheets and as a financing activity in the Consolidated Statement of Cash Flows. Interest payments under the long term debt are paid quarterly on March 15, June 15, September 15 and December 15 of each year (each such date, an "Interest Payment Date"). The interest rate will equal the rate that corresponds to the A.M. Best Co. (or its successor's) financial strength rating for members of the United Fire & Casualty Pooled Group as of the applicable Interest Payment Date. For the nine-month period ended September 30, 2023, interest totaled $2,391 and is included in accrued expenses and other liabilities in the Consolidated Balance Sheets and as interest expense in the Consolidated Statements of Income and Comprehensive Income. Payment of interest is subject to approval by the Iowa Insurance Division. Income Taxes Deferred tax assets and liabilities are established based on differences between the financial statement bases of assets and liabilities and the tax bases of those same assets and liabilities, using the currently enacted statutory tax rates. Deferred income tax expense is measured by the year-to-year change in the net deferred tax asset or liability, except for certain changes in deferred tax amounts that affect stockholders' equity and do not impact federal income tax expense. We reported a consolidated federal income tax benefit of $14,544 for the nine-month period ended September 30, 2023 compared to an income tax benefit of $5,475 during the same period of 2022. Our effective tax rate for 2023 and 2022 is different than the federal statutory rate of 21 percent, due principally to the net effect of tax-exempt municipal bond interest income. The Company performs a quarterly review of its tax positions and makes a determination of whether it is more likely than not that the tax position will be sustained upon examination. If, based on this review, it appears not more likely than not that the positions will be sustained, the Company will calculate any unrecognized tax benefits and, if necessary, calculate and accrue any related interest and penalties. We did not recognize any liability for unrecognized tax benefits at September 30, 2023 or December 31, 2022. In addition, we have not accrued for interest and penalties related to unrecognized tax benefits. However, if interest and penalties would need to be accrued related to unrecognized tax benefits, such amounts would be recognized as a component of federal income tax expense. Deferred tax assets are reduced by a valuation allowance when management believes it is more likely than not that some, or all, of the deferred taxes will not be realized. After considering all positive and negative evidence of taxable income in the carryback and carryforward periods and our tax planning strategy of holding debt securities with unrealized losses to maturity or recovery, we believe it is more likely than not that all the deferred assets will be realized. As a result, we have no valuation allowance at September 30, 2023 or December 31, 2022. For the nine-month periods ended September 30, 2023 and 2022, we made payments for income taxes totaling $1,336 and $21,537, respectively. We did not receive a federal tax refund for the nine-month period ended September 30, 2023. For the nine-month period ended September 30, 2022, we received a federal tax refund of $10,789. We file a consolidated federal income tax return. We also file income tax returns in various state jurisdictions. We are no longer subject to federal or state income tax examination for years before 2018. Leases The Company determines if a contract contains a lease at inception of the contract. The Company's inventory of leases consists of operating leases which are recorded as a lease obligation liability disclosed in the "Accrued expenses and other liabilities" line on the Consolidated Balance Sheets and as a lease right-of-use asset disclosed in the "Other assets" line on the Consolidated Balance Sheets. The Company's operating leases consist of office space, vehicles, computer equipment and office equipment. The lease right-of-use asset represents the Company's right to use each underlying asset for the lease term and the lease obligation liability represents the Company's obligation over the lease term. The Company's lease obligation is recorded at the present value of the lease payments based on the term of the applied lease. Short-term leases of 12 months or less are recorded on the Consolidated Balance Sheets and lease payments are recognized on the Consolidated Statements of Income and Comprehensive Income. For more information on leases refer to Note 10 "Leases." Variable Interest Entities The Company and certain related parties are equity investors in one investment which the Company determined is a variable interest entity ("VIE") as a result of participation in the risks and rewards of the VIE based on the objectives and strategies of the VIE. The VIE is a limited liability company that primarily invests in commercial real estate. The Company and certain related parties are not the primary beneficiaries largely due to their inability to influence management or direct the activities that most significantly impact the VIE's economic performance. Based on these facts and circumstances, the Company has a variable interest in the VIE, but has not consolidated the VIE's financial results as it is not the primary beneficiary. The Company's investment is reported in other long-term investments in the Consolidated Balance Sheets and accounted for under the equity method of accounting. The fair value of the VIE at September 30, 2023 was $2,650 and there are no future funding commitments. Credit Losses The Company recognizes credit losses for our available-for-sale fixed-maturity portfolio, reinsurance receivables, mortgage loans and premium receivables by setting up allowances which are remeasured each reporting period and recorded in the Consolidated Statements of Income and Comprehensive Income. For our available-for-sale fixed-maturity portfolio an allowance for credit losses is recorded net of available-for-sale fixed maturities in the Consolidated Balance Sheets and a corresponding credit loss recognized as a realized loss or gain in the Consolidated Statements of Income and Comprehensive Income. The Company determines if an allowance for credit losses is recorded based on a number of factors including current economic conditions, management's expectations of future economic conditions and performance indicators, such as market value versus amortized cost, investment spreads widening or contracting, rating actions, payment and default history. For more information on credit losses and the allowance for credit losses for our available-for-sale fixed-maturity portfolio, see Note 2 "Summary of Investments." An allowance for mortgage loan losses is established based on historical loss information of the collective pool of the Company's commercial mortgage loan investments which have similar risk characteristics. To calculate the allowance for mortgage loan losses, the Company starts with historical loan experience to predict the future expected losses and then layers on a market-linked adjustment. On a quarterly basis, quantitative credit risk metrics, including, for example, cash-flows, rent rolls and financial statements are reviewed for each loan to determine if it is performing in line with its expectations. This allowance is presented as a separate line in the Consolidated Balance Sheets beneath the asset value as well as presented net and recorded through "Net investment gains (losses)" in the Consolidated Statements of Income and Comprehensive Income. For more information on credit losses and the allowance for credit losses for our investment in mortgage loans see Note 3 "Fair Value of Financial Instruments." For reinsurance receivables, the Company's model estimates expected credit loss by multiplying the exposure at default by both the probability of default and loss given default ("LGD"). The LGD is estimated by the rating of the reinsurer, historical relationship with UFG, existence of letters of credit and known regulation for which the Company may be held accountable. The ultimate LGD percentage is estimated after considering Moody's experience with unsecured year one bond recovery rates from 1983-2017. The allowance calculated as of September 30, 2023 is recorded through the line "Reinsurance receivables and recoverables" in the Consolidated Balance Sheets and through the line "Other underwriting expenses" in the Consolidated Statements of Income and Other Comprehensive Income. As of September 30, 2023, the Company had a credit loss allowance for reinsurance receivables of $130. Rollforward of credit loss allowance for reinsurance receivables: As of September 30, 2023 Beginning balance, January 1, 2023 $ 82 Current-period provision for expected credit losses 48 Ending balance of the allowance for reinsurance receivables, September 30, 2023 $ 130 With respect to premiums receivable, the Company utilizes an aging method to estimate credit losses. An allowance for doubtful accounts is based on a periodic evaluation of the aging and collectability of amounts due from agents and policyholders. "Premiums receivable" are presented in the Consolidated Balance Sheets net of an estimated allowance for doubtful accounts and recorded through "Other underwriting expenses" in the Consolidated Statements of Income and Comprehensive Income. Subsequent Events In the preparation of the accompanying financial statements, the Company has evaluated all material subsequent events or transactions that occurred after the balance sheet date through the date on which the financial statements were issued for potential recognition or disclosure in the Company's financial statements. Recently Issued Accounting Standards Accounting Standards Adopted in 2022 Inflation Reduction Act

Summary of Investments

Summary of Investments	9 Months Ended
	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Summary of Investments	SUMMARY OF INVESTMENTS Fair Value of Investments A reconciliation of the amortized cost to fair value of investments in our available-for-sale fixed maturity portfolio, presented on a consolidated basis, as of September 30, 2023 and December 31, 2022, is provided below: September 30, 2023 Type of Investment Cost or Amortized Cost Gross Unrealized Appreciation Gross Unrealized Depreciation Fair Value Allowance for Credit Losses Carrying Value AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury $ 68,133 $ — $ 1,260 $ 66,873 $ — $ 66,873 U.S. government agency 104,695 16 12,813 91,898 — 91,898 States, municipalities and political subdivisions General obligations: Midwest 58,724 — 1,843 56,881 — 56,881 Northeast 11,440 — 441 10,999 — 10,999 South 55,335 — 2,201 53,134 — 53,134 West 78,044 — 2,718 75,326 — 75,326 Special revenue: Midwest 101,204 1 4,327 96,878 — 96,878 Northeast 52,836 — 2,284 50,552 — 50,552 South 168,395 — 8,895 159,500 — 159,500 West 105,521 — 5,005 100,516 — 100,516 Foreign bonds 21,251 — 2,915 18,336 — 18,336 Public utilities 143,162 14 15,759 127,417 — 127,417 Corporate bonds Energy 45,368 — 3,768 41,600 — 41,600 Industrials 73,635 38 7,705 65,968 — 65,968 Consumer goods and services 100,300 — 11,794 88,506 — 88,506 Health care 37,903 — 6,366 31,537 — 31,537 Technology, media and telecommunications 90,285 — 10,037 80,248 — 80,248 Financial services 145,477 — 12,315 133,162 126 133,036 Mortgage-backed securities 24,470 — 3,463 21,007 — 21,007 Collateralized mortgage obligations Government national mortgage association 163,893 — 17,223 146,670 — 146,670 Federal home loan mortgage corporation 88,565 — 16,716 71,849 — 71,849 Federal national mortgage association 52,114 — 6,227 45,887 — 45,887 Asset-backed securities 3,575 456 137 3,894 — 3,894 Total Available-for-Sale Fixed Maturities $ 1,794,325 $ 525 $ 156,212 $ 1,638,638 $ 126 $ 1,638,512 December 31, 2022 Type of Investment Cost or Amortized Cost Gross Unrealized Appreciation Gross Unrealized Depreciation Fair Value Allowance for Credit Losses Carrying Value AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury $ 15,684 $ — $ 1,009 $ 14,675 $ — $ 14,675 U.S. government agency 94,092 35 9,721 84,406 — 84,406 States, municipalities and political subdivisions General obligations: Midwest 61,191 185 263 61,113 — 61,113 Northeast 15,518 18 73 15,463 — 15,463 South 64,851 57 927 63,981 — 63,981 West 87,094 163 712 86,545 — 86,545 Special revenue: Midwest 103,107 224 1,065 102,266 — 102,266 Northeast 55,292 76 1,148 54,220 — 54,220 South 184,108 278 3,529 180,857 — 180,857 West 113,594 275 1,657 112,212 — 112,212 Foreign bonds 36,129 — 4,480 31,649 — 31,649 Public utilities 138,752 65 13,406 125,411 — 125,411 Corporate bonds Energy 36,507 — 3,298 33,209 — 33,209 Industrials 58,334 62 5,554 52,842 — 52,842 Consumer goods and services 100,539 — 10,598 89,941 — 89,941 Health care 32,987 24 5,419 27,592 — 27,592 Technology, media and telecommunications 67,193 — 7,253 59,940 — 59,940 Financial services 132,849 851 9,408 124,292 3 124,289 Mortgage-backed securities 20,450 — 2,750 17,700 — 17,700 Collateralized mortgage obligations Government national mortgage association 97,839 — 13,291 84,548 — 84,548 Federal home loan mortgage corporation 92,366 — 13,528 78,838 — 78,838 Federal national mortgage association 50,272 5 4,891 45,386 — 45,386 Asset-backed securities 3,932 466 145 4,253 — 4,253 Total Available-for-Sale Fixed Maturities $ 1,662,680 $ 2,784 $ 114,125 $ 1,551,339 $ 3 $ 1,551,336 Maturities The amortized cost and fair value of available-for-sale fixed maturity securities at September 30, 2023, by contractual maturity, are shown in the following tables. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Asset-backed securities, mortgage-backed securities and collateralized mortgage obligations may be subject to prepayment risk and are therefore not categorized by contractual maturity. Maturities Available-For-Sale September 30, 2023 Amortized Cost Fair Value Due in one year or less $ 84,646 $ 84,052 Due after one year through five years 518,815 496,253 Due after five years through 10 years 530,822 476,969 Due after 10 years 327,424 292,056 Asset-backed securities 3,575 3,894 Mortgage-backed securities 24,470 21,007 Collateralized mortgage obligations 304,573 264,407 $ 1,794,325 $ 1,638,638 Net Investment Gains and Losses Net gains (losses) on disposition of investments are computed using the specific identification method and are included in the computation of net income. A summary of the components of net investment gains (losses) is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Net investment gains (losses): Fixed maturities: Available-for-sale $ (19) $ (98) $ (445) $ (1,397) Allowance for credit losses (125) (91) (123) (91) Equity securities Change in the fair value 204 (13,078) (1,960) (32,403) Sales (2,085) (93) 150 (1,767) Mortgage loans allowance for credit losses 1 — (5) 5 Other long-term investments 64 (187) (245) (229) Real estate — (703) 47 235 Total net investment gains (losses) $ (1,960) $ (14,250) $ (2,581) $ (35,647) The proceeds and gross realized gains (losses) on the sale of available-for-sale fixed maturity securities are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Proceeds from sales $ 4,940 $ 18,399 $ 48,749 $ 83,409 Gross realized gains — 12 121 459 Gross realized losses 19 110 566 1,857 Funding Commitment Pursuant to agreements with our limited liability partnership investments, we are contractually committed through July 10, 2030 to make capital contributions upon the request of certain of the partnerships. Our remaining potential contractual obligation was $32,248 at September 30, 2023. In addition, the Company invested $25,000 in December 2019 in a limited liability partnership investment fund which is subject to a three-year lockup with a 60-day minimum notice, with four possible repurchase dates per year after the three-year lockup period has concluded. The fair value of the investment at September 30, 2023 was $25,218 and there are no remaining capital contributions with this investment. Unrealized Appreciation and Depreciation A summary of the changes in net unrealized investment appreciation during the reporting period is as follows: Nine Months Ended September 30, 2023 2022 Change in net unrealized investment appreciation (depreciation) Available-for-sale fixed maturities $ (44,087) $ (197,594) Income tax effect 9,258 41,495 Total change in net unrealized investment appreciation (depreciation), net of tax $ (34,829) $ (156,099) Credit Risk An allowance for credit losses is recorded based on a number of factors including current economic conditions, management's expectations of future economic conditions and performance indicators, such as market value versus amortized cost, investment spreads widening or contracting, rating actions, payment and default history. The following table contains a rollforward of the allowance for credit losses for available-for-sale fixed maturity securities at September 30, 2023. Rollforward of allowance for credit losses for available-for-sale fixed maturity securities: As of September 30, 2023 Beginning balance, January 1, 2023 $ 3 Additions to the allowance for credit losses for which credit losses were not previously recorded 123 Reductions for securities sold during the period (realized) — Write-offs charged against the allowance — Recoveries of amounts previously written off — Ending balance, September 30, 2023 $ 126 Fixed Maturities Unrealized Depreciation The following tables summarize our fixed maturity securities that were in an unrealized loss position reported on a consolidated basis at September 30, 2023 and December 31, 2022. The securities are presented by the length of time they have been continuously in an unrealized loss position. Non-credit related unrealized losses are recognized as a component of other comprehensive income and represent other market movements that are not credit related, for example interest rate changes. We have no intent to sell, and it is more likely than not that we will not be required to sell, these securities until the fair value recovers to at least equal our cost basis or the securities mature. September 30, 2023 Less than 12 months 12 months or longer Total Type of Investment Number Fair Gross Unrealized Number Fair Gross Unrealized Depreciation Fair Gross Unrealized Depreciation AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury 5 $ 54,358 $ 390 6 $ 12,515 $ 870 $ 66,873 $ 1,260 U.S. government agency 3 10,643 336 25 75,239 12,477 85,882 12,813 States, municipalities and political subdivisions General obligations Midwest 30 45,359 1,360 3 10,357 483 55,716 1,843 Northeast 4 7,716 214 1 3,283 227 10,999 441 South 23 37,383 989 9 15,751 1,212 53,134 2,201 West 26 54,944 1,498 8 20,382 1,220 75,326 2,718 Special revenue Midwest 38 71,273 2,694 11 22,054 1,633 93,327 4,327 Northeast 11 27,061 956 8 23,491 1,328 50,552 2,284 South 42 95,076 3,480 33 64,424 5,415 159,500 8,895 West 39 59,134 2,017 19 41,380 2,988 100,514 5,005 Foreign bonds — — — 9 18,336 2,915 18,336 2,915 Public utilities 7 17,689 621 49 109,217 15,138 126,906 15,759 Corporate bonds Energy 4 8,604 294 15 32,996 3,474 41,600 3,768 Industrials 6 14,842 331 22 47,010 7,374 61,852 7,705 Consumer goods and services 7 22,863 976 28 65,643 10,818 88,506 11,794 Health care 3 6,604 223 11 24,933 6,143 31,537 6,366 Technology, media and telecommunications 5 17,505 865 28 61,492 9,172 78,997 10,037 Financial services 10 24,655 1,090 44 108,507 11,225 133,162 12,315 Mortgage-backed securities 4 5,656 195 48 15,352 3,268 21,008 3,463 Collateralized mortgage obligations Government National Mortgage Association 18 75,767 1,169 40 70,903 16,054 146,670 17,223 Federal Home Loan Mortgage Corporation 3 7,655 2,523 32 64,194 14,193 71,849 16,716 Federal National Mortgage Association 6 14,078 421 20 31,810 5,806 45,888 6,227 Asset-backed securities — — — 1 3,095 137 3,095 137 Total Available-for-Sale Fixed Maturities 294 $ 678,865 $ 22,642 470 $ 942,364 $ 133,570 $ 1,621,229 $ 156,212 The unrealized losses on our investments in available-for-sale fixed maturities were the result of interest rate movements. We have no intent to sell, and it is more likely than not that we will not be required to sell these securities until the fair value recovers to at least equal our cost basis or the securities mature. December 31, 2022 Less than 12 months 12 months or longer Total Type of Investment Number Fair Gross Unrealized Depreciation Number Fair Gross Unrealized Depreciation Fair Gross Unrealized Depreciation AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury 4 $ 6,656 $ 212 4 $ 8,019 $ 797 $ 14,675 $ 1,009 U.S. government agency 24 70,158 5,606 3 11,242 4,115 81,400 9,721 States, municipalities and political subdivisions General obligations Midwest 16 29,089 263 — — — 29,089 263 Northeast 4 8,576 73 — — — 8,576 73 South 24 48,235 927 — — — 48,235 927 West 27 62,652 711 — — — 62,652 711 Special revenue Midwest 35 67,101 1,065 — — — 67,101 1,065 Northeast 14 37,484 1,148 — — — 37,484 1,148 South 58 126,388 3,124 1 866 405 127,254 3,529 West 39 83,622 1,658 — — — 83,622 1,658 Foreign bonds 9 21,377 1,861 5 10,272 2,619 31,649 4,480 Public utilities 45 101,867 8,737 9 19,979 4,669 121,846 13,406 Corporate bonds Energy 15 28,612 1,930 1 4,597 1,368 33,209 3,298 Industrials 21 43,639 3,542 4 7,049 2,012 50,688 5,554 Consumer goods and services 28 69,320 4,440 7 20,620 6,157 89,940 10,597 Health care 5 9,829 487 6 15,928 4,933 25,757 5,420 Technology, media and telecommunications 23 49,970 3,279 5 9,970 3,974 59,940 7,253 Financial services 40 101,411 6,997 5 11,236 2,208 112,647 9,205 Mortgage-backed securities 38 7,909 1,056 12 9,791 1,693 17,700 2,749 Collateralized mortgage obligations Government National Mortgage Association 29 48,898 4,500 12 35,650 8,791 84,548 13,291 Federal Home Loan Mortgage Corporation 21 35,456 5,629 19 43,383 7,900 78,839 13,529 Federal National Mortgage Association 14 24,146 1,281 7 16,674 3,611 40,820 4,892 Asset-backed securities 1 3,452 145 — — — 3,452 145 Total Available-for-Sale Fixed Maturities 534 $ 1,085,847 $ 58,671 100 $ 225,276 $ 55,252 $ 1,311,123 $ 113,923

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS Current accounting guidance on fair value measurements includes the application of a fair value hierarchy that requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Our financial instruments that are recorded at fair value are categorized into a three-level hierarchy, which is based upon the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets (i.e., Level 1) and the lowest priority to unobservable inputs (i.e., Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the financial instrument. Financial instruments recorded at fair value are categorized in the fair value hierarchy as follows: • Level 1 : Valuations are based on unadjusted quoted prices in active markets for identical financial instruments that we have the ability to access. • Level 2 : Valuations are based on quoted prices for similar financial instruments, other than quoted prices included in Level 1, in markets that are not active or on inputs that are observable either directly or indirectly for the full term of the financial instrument. • Level 3 : Valuations are based on pricing or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement of the financial instrument. Such inputs may reflect management's own assumptions about the assumptions a market participant would use in pricing the financial instrument. We review our fair value hierarchy categorizations on a quarterly basis at which time the classification of certain financial instruments may change if the input observations have changed. Transfers between levels, if any, are recorded as of the beginning of the reporting period. To determine the fair value of the majority of our investments, we utilize prices obtained from independent, nationally recognized pricing services. We obtain one price for each security. When the pricing services cannot provide a determination of fair value for a specific security, we obtain non-binding price quotes from broker-dealers with whom we have had several years' experience and who have demonstrated knowledge of the subject security. In order to determine the proper classification in the fair value hierarchy, we obtain and evaluate the vendors' pricing procedures and inputs used to price the security, which include unadjusted quoted market prices for identical securities, such as a New York Stock Exchange closing price, and quoted prices for identical securities in markets that are not active. For fixed maturity securities, an evaluation of interest rates and yield curves observable at commonly quoted intervals, volatility, prepayment speeds, credit risks and default rates may also be performed. We have determined that these processes and inputs result in fair values and classifications consistent with the applicable accounting guidance on fair value measurements. When possible, we use quoted market prices to determine the fair value of fixed maturities, equity securities, trading securities and short-term investments. When quoted market prices do not exist, we base estimates of fair value on market information obtained from independent pricing services and brokers or on valuation techniques that are both unobservable and significant to the overall fair value measurement of the financial instrument. Such inputs may reflect management's own assumptions about the assumptions a market participant would use in pricing the financial instrument. Our valuation techniques are discussed in more detail throughout this section. The mortgage loan portfolio consists entirely of commercial mortgage loans. The fair value of our mortgage loans is determined by modeling performed by our third-party fund manager based on the stated principal and coupon payments provided for in the loan agreements. These cash flows are then discounted using an appropriate risk-adjusted discount rate to determine the security's fair value. Our other long-term investments consist primarily of our interests in limited liability partnerships that are recorded on the equity method of accounting. The fair value of the partnerships is obtained from the fund managers, which is based on the fair value of the underlying investments held in the partnerships. In management's opinion, these values represent a reasonable estimate of fair value. We have not adjusted the net asset value provided by the fund managers. For cash and cash equivalents and accrued investment income, carrying value is a reasonable estimate of fair value due to the short-term nature of these financial instruments. The Company formed a rabbi trust in 2014 to fund obligations under the United Fire & Casualty Company Supplemental Executive Retirement and Deferral Plan (the "Executive Retirement Plan"). Within the rabbi trust, corporate-owned life insurance ("COLI") policies are utilized as an investment vehicle and source of funding for the Company's Executive Retirement Plan. The COLI policies invest in mutual funds, which are priced daily by independent sources. As of September 30, 2023, the cash surrender value of the COLI policies was $11,000 w hich is equal to the fair value measured using Level 2 inputs, based on the underlying assets of the COLI policie s, and is included in other assets in the Consolidated Balance Sheets. Our long-term debt is not carried in the Consolidated Balance Sheet at fair value. The fair value of our long-term debt is estimated using Level 2 inputs based on quoted prices for similar financial instruments. The fair value is estimated using a discounted cash flow analysis. A summary of the carrying value and estimated fair value of our financial instruments at September 30, 2023 and December 31, 2022 is as follows: September 30, 2023 December 31, 2022 Fair Value Carrying Value Fair Value Carrying Value Assets Investments Fixed maturities: Available-for-sale securities $ 1,638,638 $ 1,638,512 $ 1,551,339 $ 1,551,336 Equity securities 51,217 51,217 169,106 169,106 Mortgage loans 42,280 45,534 35,302 37,898 Other long-term investments 93,836 93,836 86,276 86,276 Short-term investments — — 275 275 Cash and cash equivalents 69,150 69,150 96,650 96,650 Corporate-owned life insurance 11,000 11,000 10,588 10,588 Liabilities Long Term Debt 34,456 50,000 36,168 50,000 The following tables present the categorization for our financial instruments measured at fair value on a recurring basis. The table includes financial instruments at September 30, 2023 and December 31, 2022: September 30, 2023 Fair Value Measurements Description Total Level 1 Level 2 Level 3 AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury $ 66,873 $ — $ 66,873 $ — U.S. government agency 91,898 — 91,898 — States, municipalities and political subdivisions General obligations Midwest 56,881 — 56,881 — Northeast 10,999 — 10,999 — South 53,134 — 53,134 — West 75,326 — 75,326 — Special revenue Midwest 96,878 — 96,878 — Northeast 50,552 — 50,552 — South 159,500 — 159,500 — West 100,516 — 100,516 — Foreign bonds 18,336 — 18,336 — Public utilities 127,417 — 127,417 — Corporate bonds Energy 41,600 — 41,600 — Industrials 65,968 — 65,968 — Consumer goods and services 88,506 — 88,506 — Health care 31,537 — 31,537 — Technology, media and telecommunications 80,248 — 80,248 — Financial services 133,162 — 128,462 4,700 Mortgage-backed securities 21,007 — 21,007 — Collateralized mortgage obligations Government national mortgage association 146,670 — 146,670 — Federal home loan mortgage corporation 71,849 — 71,849 — Federal national mortgage association 45,887 — 45,887 — Asset-backed securities 3,894 — 3,095 799 Total Available-for-Sale Fixed Maturities $ 1,638,638 $ — $ 1,633,139 $ 5,499 EQUITY SECURITIES Common stocks Public utilities $ 3,703 $ 3,703 $ — $ — Energy 9,536 9,536 — — Industrials 13,023 13,023 — — Consumer goods and services 11,127 11,127 — — Health care 1,959 1,959 — — Technology, media and telecommunications 5,612 5,612 — — Financial services 6,257 6,257 — — Total Equity Securities $ 51,217 $ 51,217 $ — $ — Short-Term Investments $ — $ — $ — $ — Money Market Accounts $ 13,977 $ 13,977 $ — $ — Corporate-Owned Life Insurance $ 11,000 $ — $ 11,000 $ — Total Assets Measured at Fair Value $ 1,714,832 $ 65,194 $ 1,644,139 $ 5,499 December 31, 2022 Fair Value Measurements Description Total Level 1 Level 2 Level 3 AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury $ 14,675 $ — $ 14,675 $ — U.S. government agency 84,406 — 84,406 — States, municipalities and political subdivisions General obligations Midwest 61,113 — 61,113 — Northeast 15,463 — 15,463 — South 63,981 — 63,981 — West 86,545 — 86,545 — Special revenue Midwest 102,266 — 102,266 — Northeast 54,220 — 54,220 — South 180,857 — 180,857 — West 112,212 — 112,212 — Foreign bonds 31,649 — 31,649 — Public utilities 125,411 — 125,411 — Corporate bonds Energy 33,209 — 33,209 — Industrials 52,842 — 52,842 — Consumer goods and services 89,941 — 89,941 — Health care 27,592 — 27,592 — Technology, media and telecommunications 59,940 — 59,940 — Financial services 124,292 — 118,617 5,675 Mortgage-backed securities 17,700 — 17,700 — Collateralized mortgage obligations Government national mortgage association 84,548 — 84,548 — Federal home loan mortgage corporation 78,838 — 78,838 — Federal national mortgage association 45,386 — 45,386 — Asset-backed securities 4,253 — 3,452 801 Total Available-for-Sale Fixed Maturities $ 1,551,339 $ — $ 1,544,863 $ 6,476 EQUITY SECURITIES Common stocks Public utilities $ 14,846 $ 14,846 $ — $ — Energy 19,743 19,743 — — Industrials 27,163 27,163 — — Consumer goods and services 43,139 43,139 — — Health care 7,981 7,981 — — Technology, media and telecommunications 28,213 28,213 — — Financial services 28,021 28,021 — — Total Equity Securities $ 169,106 $ 169,106 $ — $ — Short-Term Investments $ 275 $ 275 $ — $ — Money Market Accounts $ 31,289 $ 31,289 $ — $ — Corporate-Owned Life Insurance $ 10,588 $ — $ 10,588 $ — Total Assets Measured at Fair Value $ 1,762,597 $ 200,670 $ 1,555,451 $ 6,476 The fair value of securities that are categorized as Level 1 is based on quoted market prices that are readily and regularly available. We use a market-based approach for valuing all of our Level 2 securities and submit them primarily to a third-party valuation service provider. Any of these securities not valued by this service provider are submitted to another third-party valuation service provider. Both service providers use a market approach to find pricing of similar financial instruments. The market inputs our service providers normally seek to value our securities include the following, listed in approximate order of priority: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications. The method and inputs for these securities classified as Level 2 are the same regardless of industry category, credit quality, duration, geographical concentration or economic characteristics. For our mortgage-backed securities, collateralized mortgage obligations and asset-backed securities, our service providers use additional market inputs to value these securities, including the following: new issue data, periodic payment information, monthly payment information, collateral performance and real estate analysis from third parties. Our service providers prioritize inputs based on market conditions, and not all inputs listed are available for use in the valuation process for each security on any given day. At least annually, we review the methodologies and assumptions used by our valuation service providers and verify that they are reasonable and representative of the fair value of the underlying securities held in the investment portfolio. We validate the prices obtained from independent pricing services and brokers prior to their use for reporting purposes by evaluating their reasonableness on a monthly basis. In addition, on a quarterly basis, we also test all securities in the portfolio and independently corroborate the valuations obtained from our third-party valuation service providers. Quarterly, we also perform deep dive analyses of the pricing method used by our third-party valuation service provider by selecting a random sample of securities by asset class and reviewing methodologies. In our opinion, the pricing obtained at September 30, 2023 and December 31, 2022 was reasonable. For the three- and nine-month periods ended September 30, 2023, the change in our available-for-sale securities categorized as Level 1 and Level 2 is the result of investment purchases that were made using funds held in our money market accounts, disposals and the change in unrealized gains on both fixed maturities and equity securities. Securities categorized as Level 3 include holdings in certain private placement fixed maturity and equity securities for which an active market does not currently exist. The fair value of our Level 3 private placement securities is determined by management relying on pricing received from our independent pricing services and brokers consistent with the process to estimate fair value for Level 2 securities. However, securities are categorized as Level 3 if these quotes cannot be corroborated by other market observable data due to the unobservable nature of the brokers' valuation processes. A change in significant unobservable inputs may result in a significantly higher or lower fair value measurement as of the reporting date. The following table provides quantitative information about our Level 3 securities at September 30, 2023: Quantitative Information about Level 3 Fair Value Measurements Fair Value at Valuation Technique(s) Unobservable inputs Range of weighted average significant unobservable inputs September 30, 2023 Fixed Maturities corporate $ 4,700 Third-party valuation Offered quotes 90.0% - 100.0% Fixed Maturities asset-backed securities 799 Discounted cash flow Probability of default 4% - 6% The following table provides a summary of the changes in fair value of our Level 3 securities for the three-month period ended September 30, 2023: Corporate bonds Asset-backed securities Total Beginning Balance - July 1, 2023 $ 4,765 $ 837 $ 5,602 Net unrealized gains (losses) (1) (65) (38) (103) Ending Balance - September 30, 2023 $ 4,700 $ 799 $ 5,499 (1) Net unrealized gains (losses) are recorded as a component of comprehensive income. The following table provides a summary of the changes in fair value of our Level 3 securities for the nine-month period ended September 30, 2023: Corporate bonds Asset-backed securities Total Beginning Balance - January 1, 2023 $ 5,675 $ 801 $ 6,476 Net unrealized gains (losses) (1) (975) (2) (977) Ending Balance - September 30, 2023 $ 4,700 $ 799 $ 5,499 (1) Net unrealized gains (losses) are recorded as a component of comprehensive income. Commercial Mortgage Loans The following tables present the carrying value of our commercial mortgage loans and additional information at September 30, 2023 and December 31, 2022: Commercial Mortgage Loans September 30, 2023 December 31, 2022 Loan-to-value Carrying Value Carrying Value Less than 65% $ 36,883 $ 29,231 65%-75% 8,706 8,716 Total amortized cost $ 45,589 $ 37,947 Allowance for mortgage loan losses (55) (49) Mortgage loans, net $ 45,534 $ 37,898 Mortgage Loans by Region September 30, 2023 December 31, 2022 Carrying Value Percent of Total Carrying Value Percent of Total East North Central $ 3,245 7.1 % $ 3,245 8.6 % Southern Atlantic 17,265 37.8 9,397 24.7 East South Central 7,591 16.7 7,783 20.5 New England 6,588 14.5 6,588 17.4 Middle Atlantic 6,020 13.2 6,139 16.2 Mountain 1,992 4.4 1,992 5.2 West North Central 2,888 6.3 2,803 7.4 Total mortgage loans at amortized cost $ 45,589 100.0 % $ 37,947 100.0 % Mortgage Loans by Property Type September 30, 2023 December 31, 2022 Carrying Value Percent of Total Carrying Value Percent of Total Commercial Multifamily $ 8,536 18.7 % $ 8,493 22.4 % Office 11,030 24.3 11,267 29.7 Industrial 10,003 21.9 10,056 26.5 Retail 10,000 21.9 1,992 5.2 Mixed use/Other 6,020 13.2 6,139 16.2 Total mortgage loans at amortized cost $ 45,589 100.0 % $ 37,947 100.0 % Amortized Cost Basis by Year of Origination and Credit Quality Indicator 2023 2022 2020 2019 2018 Total Commercial mortgage loans: Risk Rating: 1-2 internal grade $ 8,136 $ 100 5,292 $ 7,897 $ 17,576 $ 39,001 3-4 internal grade — — — — 6,588 6,588 5 internal grade — — — — — — 6 internal grade — — — — — — 7 internal grade — — — — — — Total commercial mortgage loans $ 8,136 $ 100 $ 5,292 $ 7,897 $ 24,164 $ 45,589 Current-period write-offs — — — — — — Current-period recoveries — — — — — — Current-period net write-offs $ — $ — $ — $ — $ — $ — Commercial mortgage loans carrying value excludes accrued interest of $173. As of September 30, 2023, all loan receivables were current, with no delinquencies. The commercial mortgage loans originate with an initial loan-to-value ratio to provide sufficient collateral to absorb losses should a loan be required to foreclose. Mortgage loans are evaluated on a quarterly basis for impairment on an individual basis through a monitoring process and review of key credit indicators, such as economic trends, delinquency rates, property valuations, occupancy and rental rates and loan-to-value ratios. A loan is considered impaired when the Company believes it will not collect the contractual principal and interest set forth in the contractual terms of the loan. An internal grade is assigned to each mortgage loan, with a grade of 1 being the highest and least likely for an impairment and the lowest rating of 7 being the most likely for an impairment. An allowance for mortgage loan losses is established on each loan recognizing a loss for amounts which we believe will not be collected according to the contractual terms of the respective loan agreement. As of September 30, 2023, the Company had an allowance for mortgage loan losses of $55, summarized in the following rollforward: Rollforward of allowance for mortgage loan losses: As of September 30, 2023 Beginning balance, January 1, 2023 $ 49 Current-period provision for expected credit losses 6 Ending balance of the allowance for mortgage loan losses, September 30, 2023 $ 55

Reserves for Losses and Loss Se

Reserves for Losses and Loss Settlement Expenses	9 Months Ended
	Sep. 30, 2023
Insurance Loss Reserves [Abstract]
Reserves for Losses and Loss Settlement Expenses	RESERVES FOR LOSSES AND LOSS SETTLEMENT EXPENSES Property insurance indemnifies an insured with an interest in physical property for loss of, or damage to, such property or the loss of its income-producing abilities. Casualty insurance primarily covers liability for damage to property of, or injury to, a person or entity other than the insured. In most cases, casualty insurance also obligates the insurance company to provide a defense for the insured in litigation, arising out of events covered by the policy. Liabilities for losses and loss settlement expenses reflect management's best estimates at a given point in time of what we expect to pay for claims that have been reported and those that have been incurred but not reported ("IBNR"), based on known facts, circumstances, and historical trends. Because property and casualty insurance reserves are estimates of the unpaid portions of incurred losses that have been reported to us, as well as losses that have been incurred but not reported, the establishment of appropriate reserves, including reserves for catastrophes, is an inherently uncertain and complex process. The ultimate cost of losses and related loss settlement expenses may vary materially from recorded amounts. We regularly update our reserve estimates as new information becomes available and as events unfold that may affect the resolution of unsettled claims. Changes in prior year reserve estimates, which may be material, are reported as a component of losses and loss settlement expenses incurred in the period such changes are determined. The determination of reserves (particularly those relating to liability lines of insurance that have relatively longer lag in claim reporting) requires significant work to reasonably project expected future claim reporting and payment patterns. If, during the course of our regular monitoring of reserves, we determine that coverages previously written are incurring higher than expected losses, we will evaluate an appropriate response that may include, among other things, increasing the related reserves. Any adjustments we make to reserves are reflected in operating results in the year in which we make those adjustments. We engage an independent actuary, Regnier Consulting Group, Inc., to render an opinion as to the reasonableness of our statutory reserves on an annual basis. The actuarial opinion is filed in those states where we are licensed. On a quarterly basis, UFG's team of actuaries performs a detailed actuarial review of IBNR reserves. This review includes a comparison of results from the most recent analysis of reserves completed by both our internal and external actuaries. Senior management meets with our actuarial team to review, on a quarterly basis, the adequacy of carried reserves based on results from this actuarial analysis. There are two fundamental types or sources of IBNR reserves. We record IBNR reserves for "normal" types of claims and also specific IBNR reserves related to unique circumstances or events. A major hurricane is an example of an event that might necessitate establishing specific IBNR reserves because an analysis of existing historical data would not provide an appropriate estimate. We do not discount loss reserves based on the time value of money. The following table provides an analysis of changes in our property and casualty losses and loss settlement expense reserves at September 30, 2023 and December 31, 2022 (net of reinsurance amounts): September 30, 2023 December 31, 2022 Gross liability for losses and loss settlement expenses $ 1,497,274 $ 1,514,265 Ceded losses and loss settlement expenses (146,875) (112,900) Net liability for losses and loss settlement expenses $ 1,350,399 $ 1,401,365 Losses and loss settlement expenses incurred Current year $ 538,941 $ 624,411 Prior years 59,184 12,890 Total incurred $ 598,125 $ 637,301 Losses and loss settlement expense payments Current year $ 131,408 $ 215,891 Prior years 371,723 472,377 Total paid $ 503,131 $ 688,268 Net liability for losses and loss settlement expenses $ 1,445,394 $ 1,350,399 Ceded losses and loss settlement expenses 191,525 146,875 Gross liability for losses and loss settlement expenses $ 1,636,918 $ 1,497,274 There are a multitude of factors that can impact loss reserve development. Those factors include, but are not limited to: historical data, the potential impact of various loss reserve development factors and trends including historical loss experience, legislative enactments, judicial decisions, legal developments in imposition of damages, experience with alternative dispute resolution, results of our medical bill review process, the potential impact of salvage and subrogation and changes and trends in general economic conditions, including the effects of inflation. All of these factors influence our estimates of required reserves and for long tail lines these factors can change over the course of the settlement of the claim. However, there is no precise method for evaluating the specific monetary impact of any individual factor on the development of reserves. Generally, we base reserves for each claim on the estimated ultimate exposure for that claim. We believe that it is appropriate and reasonable to establish a best estimate for reserves within a range of reasonable estimates, especially when we are reserving for claims for bodily injury, disabilities and similar claims, for which settlements and verdicts can vary widely. We believe our approach produces recorded reserves that are reasonably consistent as to their relative position within a range of reasonable reserves from year-to-year. However, conditions and trends that have affected the reserve development for a given year do change. Changes in external and internal environments must be considered carefully when relying on prior development patterns to project future reserve positions. We are not aware of any significant contingent liabilities related to environmental issues. Because of the type of property coverage we write, we have potential exposure to environmental pollution, mold and asbestos claims. Our underwriters are aware of these exposures and use riders or endorsements to limit exposure. Reserve Development During 2023, the Company made additional refinements to its reserve review processes and analyses, including increased segmentation on unique exposures, which resulted in deeper insights and understanding of loss experience and significant movements in reserve development across a range of commercial liability lines of business. The significant driver of the reserve strengthening was an increase in long-tailed other liability reserves primarily due to increased loss cost trends related to economic and social inflation. The commercial auto line of business also experienced reserve strengthening in reaction to continuing loss trends in post-2020 accident years. These increases were offset by favorable development in workers' compensation and fire and allied lines. The significant drivers of the unfavorable reserve development in 2022 were commercial other liability and commercial fire and allied lines. This was offset partially by favorable development in commercial automobile, workers' compensation and fidelity and surety. The unfavorable development in commercial other liability was due to paid loss and loss adjustment expense ("LAE") which was greater than reductions in reserves for unpaid loss and LAE. Emerging claim experience and deeper data insights during 2022 pointed to an increase in loss exposure on these longer tailed businesses driven in part by social and economic inflation. Commercial fire and allied developed unfavorably due to paid loss and LAE driven by catastrophe losses and increased severity on non-catastrophe claims, which was greater than reductions in reserves for unpaid loss and LAE. The favorable development for commercial automobile was from both loss and LAE where reductions of reserves for unpaid liabilities were more than sufficient to offset actual paid loss. Paid LAE reductions in reserves for IBNR claims also contributed favorable development in addition to LAE where reductions in reserves were more than sufficient to offset payments.

Employee Benefits

Employee Benefits	9 Months Ended
	Sep. 30, 2023
Retirement Benefits [Abstract]
Employee Benefits	EMPLOYEE BENEFITS Net Periodic Benefit Cost The components of the net periodic benefit cost for our pension and postretirement benefit plans are as follows: Pension Plan Postretirement Benefit Plan Three Months Ended September 30, 2023 2022 2023 2022 Net periodic benefit cost Service cost $ 954 $ 1,120 $ — $ — Interest cost 2,526 1,933 — 1 Expected return on plan assets (3,756) (4,723) — — Amortization of prior service credit (820) (820) — (3,771) Amortization of net loss 52 194 — 706 Net periodic benefit cost $ (1,044) $ (2,296) $ — $ (3,064) Pension Plan Postretirement Benefit Plan Nine Months Ended September 30, 2023 2022 2023 2022 Net periodic benefit cost Service cost $ 2,863 $ 3,361 $ — $ — Interest cost 7,579 5,798 — 2 Expected return on plan assets (11,269) (14,168) — — Amortization of prior service credit (2,460) (2,460) — (11,314) Amortization of net loss 155 583 — 2,118 Net periodic benefit cost $ (3,131) $ (6,887) $ — $ (9,194) A portion of the service cost component of net periodic pension and postretirement benefit costs is capitalized and amortized as part of deferred acquisition costs and is included in the line "Amortization of deferred policy acquisition costs" in the Consolidated Statements of Income and Comprehensive Income. The portion not related to the compensation and other components of net periodic pension and postretirement benefit costs is included in the income statement line titled "other underwriting expenses." In January 2021, the Company changed the postretirement benefit plan to a voluntary plan funded exclusively by participants, commencing at the start of 2023. A related, previously disclosed adjustment is being amortized through an additional one-time adjustment in the line "Amortization of prior service credit". The amortization of prior service credits continued through the end of 2022 related to these plan changes. As of December 31, 2022, the postretirement benefit obligation was $0. Employer Contributions

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	STOCK-BASED COMPENSATION Non-Qualified Employee Stock Award Plan The United Fire Group, Inc. 2008 Stock Plan (the "2008 Stock Plan") authorized the issuance of restricted and unrestricted stock awards, restricted stock units, stock appreciation rights, incentive stock options, and non-qualified stock options for up to 1,900,000 shares of UFG common stock to employees. In May 2014, the Registrant's shareholders approved an additional 1,500,000 shares of UFG common stock issuable pursuant to the 2008 Stock Plan, among other amendments, and renamed such plan as the United Fire Group, Inc. Stock Plan. In May 2021, the Registrant's shareholders approved an additional 650,000 shares of UFG common stock issuable pursuant to the Stock Plan, and among other amendments, renamed such plan as the United Fire Group, Inc. 2021 Stock and Incentive Plan (as amended, the "Stock Plan"). At September 30, 2023, there were 1,108,419 authorized shares remaining available for future issuance. The Stock Plan is administered by the Board of Directors, which determines those employees who will receive awards, when awards will be granted, and the terms and conditions of the awards. The Board of Directors may also take any action it deems necessary and appropriate for the administration of the Stock Plan. Pursuant to the Stock Plan, the Board of Directors may, at its sole discretion, grant awards to our employees, who are in positions of substantial responsibility with UFG. The Board of Directors, in its discretion, has also delegated authority to management to grant a limited number of restricted stock units in situations where the Company is seeking to recruit or retain individuals. Options granted pursuant to the Stock Plan are granted to buy shares of UFG's common stock at the market value of the stock on the date of grant. Options granted prior to March 2017 vest and are exercisable in installments of 20.0 percent of the number of shares covered by the option award each year from the grant date, unless the Board of Directors authorizes the acceleration of vesting. Options granted after March 2017 vest and are exercisable in installments of 33.3 percent of the number of shares covered by the option award each year from the grant date, unless the Board of Directors authorizes the acceleration of vesting. To the extent not exercised, vested option awards accumulate and are exercisable by the awardee, in whole or in part, in any subsequent year included in the option period, but not later than 10 years from the grant date. Restricted and unrestricted stock awards granted pursuant to the Stock Plan are granted at the market value of UFG's common stock on the date of the grant. Restricted stock units fully vest after three years or five years from the date of grant, unless accelerated upon the approval of the Board of Directors, at which time UFG common stock will be issued to the awardee. The activity in the Stock Plan is displayed in the following table: Authorized Shares Available for Future Award Grants Nine Months Ended September 30, 2023 From Inception to September 30, 2023 Beginning balance 1,342,119 1,900,000 Additional shares authorized — 2,150,000 Number of awards granted (305,241) (3,927,382) Number of awards forfeited or expired 71,541 985,801 Ending balance 1,108,419 1,108,419 Number of option awards exercised 4,000 1,537,336 Number of unrestricted stock awards granted — 10,090 Number of restricted stock awards vested 28,100 295,945 Non-Qualified Non-Employee Director Stock Plan The United Fire Group, Inc. Non-Employee Director Stock Plan (formerly known as the 2005 Non-Qualified Non- Employee Director Stock Option and Restricted Stock Plan) (the "Director Stock Plan") authorizes the issuance of restricted stock awards and non-qualified stock options to purchase shares of UFG's common stock to non-employee directors. On May 20, 2020, the Company's shareholders approved amendments to the Director Stock Plan, previously approved by the Company's Board of Directors, to (i) increase the number of shares available for future awards under the Director Stock Plan from 300,000 to 450,000, ( ii) extend the expiration date of the Director Stock Plan from December 31, 2020 to December 31, 2029, (iii) allow for the grant of awards of restricted stock units, and (iv) rename the Director Stock Plan as the "United Fire Group, Inc. Non-Employee Director Stock Plan." At September 30, 2023, the Company had 103,600 authorized shares available for future issuance. The Board of Directors has the authority to determine which non-employee directors receive awards, when restricted stock, restricted stock units and options shall be granted, the option price, the option expiration date, the date of grant, the vesting schedule of options or whether the options shall be immediately vested, the terms and conditions of options, restricted stock and restricted stock units (other than those terms and conditions set forth in the plan) and the number of shares of common stock to be issued pursuant to an option, restricted stock or restricted stock unit agreements (subject to limits set forth in the Director Stock Plan). The Board of Directors may also take any action it deems necessary and appropriate for the administration of the Director Stock Plan. The activity in the Director Stock Plan is displayed in the following table: Authorized Shares Available for Future Award Grants Nine Months Ended September 30, 2023 From Inception to September 30, 2023 Beginning balance 123,397 300,000 Additional authorization — 150,000 Number of awards granted (31,380) (386,618) Number of awards forfeited or expired 11,583 40,218 Ending balance 103,600 103,600 Number of option awards exercised 1,755 152,336 Number of restricted stock awards vested — 117,001 Stock-Based Compensation Expense For the three-month periods ended September 30, 2023 and 2022, we recognized stock-based compensation expense of $949 and $828, respectively. For the nine-month periods ended September 30, 2023 and 2022, we recognized stock-based compensation expense of $3,124 and $2,590, respe ctively. As of September 30, 2023, we had $6,542 in stock-based compensation expense that has yet to be recognized through our results of operations. We expect this compensation to be recognized over the remainder of 2023 and subsequent years according to the table below, except with respect to awards that are accelerated by the Board of Directors, in which case we will recognize any remaining compensation expense in the period in which the awards are accelerated. 2023 $ 1,034 2024 3,364 2025 1,878 2026 266 2027 — Total $ 6,542

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Common Share	EARNINGS PER COMMON SHARE Basic earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per share gives effect to all dilutive common shares outstanding during the reporting period. The dilutive shares we consider in our diluted earnings per share calculation relate to our outstanding stock options, restricted stock awards and restricted stock unit awards. We determine the dilutive effect of our outstanding stock options using the "treasury stock" method. Under this method, we assume the exercise of all of the outstanding stock options whose exercise price is less than the weighted-average market value of our common stock during the reporting period. This method also assumes that the proceeds from the hypothetical stock option exercises are used to repurchase shares of our common stock at the weighted-average market value of the stock during the reporting period. The net of the assumed stock options exercised and assumed common shares repurchased represents the number of dilutive common shares, which we add to the denominator of the earnings per share calculation. The components of basic and diluted earnings per share were as follows for the three- and nine-month periods ended September 30, 2023 and 2022: Three Months Ended September 30, (In Thousands, Except Share Data) 2023 2022 Basic Diluted Basic Diluted Net income (loss) $ 6,380 $ 6,380 $ (22,981) $ (22,981) Weighted-average common shares outstanding 25,263,523 25,263,523 25,188,958 25,188,958 Add dilutive effect of restricted stock unit awards — 295,997 — — Add dilutive effect of stock options — 19,814 — — Weighted-average common shares outstanding 25,263,523 25,579,334 25,188,958 25,188,958 Earnings (loss) per common share $ 0.25 $ 0.25 $ (0.91) $ (0.91) Awards excluded from diluted earnings per share calculation (1) — 837,482 — 392,062 (1) Outstanding awards that are not "in-the-money" are excluded from the diluted earnings per share calculation because the effect of including them would have been anti-dilutive. Nine Months Ended September 30, (In Thousands, Except Share Data) 2023 2022 Basic Diluted Basic Diluted Net income (loss) $ (49,308) $ (49,308) $ (5,089) $ (5,089) Weighted-average common shares outstanding 25,244,502 25,244,502 25,146,318 25,146,318 Add dilutive effect of restricted stock unit awards — — — — Add dilutive effect of stock options — — — — Weighted-average common shares outstanding 25,244,502 25,244,502 25,146,318 25,146,318 Earnings (loss) per common share $ (1.95) $ (1.95) $ (0.20) $ (0.20) Awards excluded from diluted earnings per share calculation (1) — 814,636 — 479,981 (1) Outstanding awards that are not "in-the-money" are excluded from the diluted earnings per share calculation because the effect of including them would have been anti-dilutive.

Debt

Debt	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt	DEBT Long Term Debt The Company executed a private placement debt transaction on December 15, 2020 between UF&C, and Federated Mutual and Federated Life. UF&C sold an aggregate principal amount of $50,000 of notes due 2040 to the Note Purchasers. One note with a principal amount of $35,000 was issued to Federated Mutual and one note with a principal amount of $15,000 was issued to Federated Life subject to the terms of their respective notes. Interest payments under the long term debt will be paid quarterly on March 15, June 15, September 15 and December 15 of each year (each such date, an "Interest Payment Date"). The interest rate will equal the rate that corresponds to the A.M. Best Co. (or its successor's) financial strength rating for members of the United Fire & Casualty Pooled Group as of the applicable Interest Payment Date, as set forth in the table below. For the nine-month period ended September 30, 2023, interest expense totaled $2,391. Payment of interest is subject to approval by the Iowa Insurance Division. On August 18, 2023, the Company received a downgrade from AM Best on the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent). As a result of this downgrade, the interest rate on the long term debt will increase to 6.875%, beginning with the December 15, 2023 payment, in accordance with the table below. A.M. Best Co. Financial Strength Rating Applicable Interest Rate A+ 5.875% A 6.375% A- 6.875% B++ (or lower) 7.375% Credit Facilities On March 31, 2020, UF&C, a wholly owned subsidiary of the Company, entered into a credit agreement (the "Credit Agreement") with Wells Fargo Bank, National Association ("Wells Fargo"), as administrative agent, issuing lender, swing-line lender and lender, and the other lenders from time to time party thereto (collectively with Wells Fargo, the "Lenders"), providing for a $50,000 revolving credit facility, which includes a $20,000 letter of credit sub-facility and a $5,000 swing-line loan for working capital and other general corporate purposes. The Credit Agreement is provided by the Lenders on an unsecured basis, and UF&C has the option to increase the Credit Agreement by $100,000 if agreed to by the Lenders providing such incremental facility. The Credit Agreement includes customary events of default, including default in payments of principals, default in payment of other indebtedness, change of control and voluntary and involuntary insolvency proceedings, the occurrence of which would allow the Lenders to accelerate payment of all amounts outstanding thereunder and terminate any further commitments to lend. There was no outstanding balance on the Credit Agreement at September 30, 2023 and 2022, respectively and the Company has not utilized this facility since its inception. For the nine-month periods ended September 30, 2023 and 2022, we did not incur any interest expense related to the credit facility.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table shows the changes in the components of our accumulated other comprehensive income (loss), net of tax, for the three-month period ended September 30, 2023: Liability for Net unrealized underfunded appreciation employee on investments benefit costs (1) Total Balance as of June 30, 2023 (89,094) (341) $ (89,435) Change in accumulated other comprehensive income (loss) before reclassifications (34,166) (646) (34,812) Reclassification adjustments from accumulated other comprehensive income (loss) 62 40 102 Balance as of September 30, 2023 $ (123,198) $ (947) $ (124,145) (1) The preparation of financial statements in conformity with GAAP requires us to make various estimates and assumptions that affect the reporting of net periodic benefit cost, plan assets and plan obligations for each plan at the date of the financial statements. Actual results could differ from these estimates. One significant estimate relates to the calculation of the benefit obligation for each plan. We annually establish the discount rate, which is an estimate of the interest rate at which these benefits could be effectively settled, that is used to determine the present value of the respective plan's benefit obligations as of December 31. The following table shows the changes in the components of our accumulated other comprehensive income (loss), net of tax, for the nine-month period ended September 30, 2023: Liability for Net unrealized underfunded appreciation employee on investments benefit costs (1) Total Balance as of January 1, 2023 (88,369) 873 $ (87,496) Change in accumulated other comprehensive income before reclassifications (35,438) (1,942) (37,380) Reclassification adjustments from accumulated other comprehensive income (loss) 609 122 731 Balance as of September 30, 2023 $ (123,198) $ (947) $ (124,145)

Leases

Leases	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Leases	LEASES The Company has operating leases consisting of office space, vehicle leases, computer equipment, and office equipment. Lease terms and options vary in the Company's operating leases dependent upon the underlying leased asset. We exclude options to extend or terminate a lease from our recognition as part of our right-of-use assets and lease liabilities until those options are known and/or executed, as we typically do not exercise options to purchase the underlying leased asset. As of September 30, 2023, we have leases with remaining terms of one year to five years, some of which may include no options for renewal and others with options to extend the lease terms from six months to five years. The components of our operating leases were as follows for the three- and nine-month periods ended September 30, 2023 and 2022: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Components of lease expense: Operating lease expense $ 2,255 $ 2,201 $ 6,653 $ 6,569 Less sublease income 305 53 732 160 Net lease expense 1,950 2,148 5,921 6,409 Cash flows information related to leases: Operating cash outflow from operating leases 1,952 2,170 5,996 6,471

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net income (loss)	$ 6,380	$ (56,382)	$ 694	$ (22,981)	$ (10,457)	$ 28,349	$ (49,308)	$ (5,089)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Nature of Operations and Basi_2

Nature of Operations and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The unaudited consolidated interim financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial reporting and with the instructions to Form 10-Q and Regulation S-X promulgated by the SEC. Certain financial information that is included in our Annual Report on Form 10-K/A for the year ended December 31, 2022, including certain financial statement footnote disclosures, is not required by the rules and regulations of the SEC for interim financial reporting and has been condensed or omitted.
Use of Estimates	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The financial statement categories that are most dependent on management estimates and assumptions include: investments; deferred policy acquisition costs; reinsurance receivables and recoverables; loss settlement expenses; and pension and postretirement benefit obligations.
Segment Information	Our property and casualty insurance business is reported as one business segment. The property and casualty insurance business profit or loss is consistent with consolidated reporting as disclosed on the Consolidated Statements of Income and Comprehensive Income. We analyze the property and casualty insurance business results based on profitability (i.e., loss ratios), expenses and return on equity. The Company's property and casualty insurance business was determined using a management approach to make decisions on operating matters, including allocating resources, assessing performance, determining which products to market and sell, determining distribution networks with insurance agents and monitoring the regulatory environment. The property and casualty insurance business products have similar economic characteristics and use a similar marketing and distribution strategy with our independent agents. We will continue to evaluate our operations on the basis of both statutory accounting principles prescribed or permitted by our states of domicile and GAAP.
Cash and Cash Equivalents	For purposes of reporting cash flows, cash and cash equivalents include cash, money market accounts, cash on deposit and held at Lloyd's and non-negotiable certificates of deposit with original maturities of three months or less.
Deferred Policy Acquisition Costs (DAC)	Certain costs associated with underwriting new business (primarily commissions, premium taxes and variable underwriting and policy issue expenses associated with successful acquisition efforts) are deferred.Property and casualty insurance policy acquisition costs deferred are amortized as premium revenue is recognized. The method followed in computing DAC limits the amount of such deferred costs to their estimated realizable value. This takes into account the premium to be earned, losses and loss settlement expenses expected to be incurred and certain other costs expected to be incurred as the premium is earned.
Other Intangible Assets	Our other intangible assets, which consist primarily of agency relationships, trade names, state insurance licenses, and software, are being amortized using the straight-line method over periods ranging from two years to 15 years, with the exception of state insurance licenses, which are indefinite-lived and not amortized.
Income Taxes	Deferred tax assets and liabilities are established based on differences between the financial statement bases of assets and liabilities and the tax bases of those same assets and liabilities, using the currently enacted statutory tax rates. Deferred income tax expense is measured by the year-to-year change in the net deferred tax asset or liability, except for certain changes in deferred tax amounts that affect stockholders' equity and do not impact federal income tax expense. We reported a consolidated federal income tax benefit of $14,544 for the nine-month period ended September 30, 2023 compared to an income tax benefit of $5,475 during the same period of 2022. Our effective tax rate for 2023 and 2022 is different than the federal statutory rate of 21 percent, due principally to the net effect of tax-exempt municipal bond interest income. The Company performs a quarterly review of its tax positions and makes a determination of whether it is more likely than not that the tax position will be sustained upon examination. If, based on this review, it appears not more likely than not that the positions will be sustained, the Company will calculate any unrecognized tax benefits and, if necessary, calculate and accrue any related interest and penalties. We did not recognize any liability for unrecognized tax benefits at September 30, 2023 or December 31, 2022. In addition, we have not accrued for interest and penalties related to unrecognized tax benefits. However, if interest and penalties would need to be accrued related to unrecognized tax benefits, such amounts would be recognized as a component of federal income tax expense. Deferred tax assets are reduced by a valuation allowance when management believes it is more likely than not that some, or all, of the deferred taxes will not be realized. After considering all positive and negative evidence of taxable income in the carryback and carryforward periods and our tax planning strategy of holding debt securities with unrealized losses to maturity or recovery, we believe it is more likely than not that all the deferred assets will be realized. As a result, we have no valuation allowance at September 30, 2023 or December 31, 2022. For the nine-month periods ended September 30, 2023 and 2022, we made payments for income taxes totaling $1,336 and $21,537, respectively. We did not receive a federal tax refund for the nine-month period ended September 30, 2023. For the nine-month period ended September 30, 2022, we received a federal tax refund of $10,789.
Leases	The Company determines if a contract contains a lease at inception of the contract. The Company's inventory of leases consists of operating leases which are recorded as a lease obligation liability disclosed in the "Accrued expenses and other liabilities" line on the Consolidated Balance Sheets and as a lease right-of-use asset disclosed in the "Other assets" line on the Consolidated Balance Sheets. The Company's operating leases consist of office space, vehicles, computer equipment and office equipment. The lease right-of-use asset represents the Company's right to use each underlying asset for the lease term and the lease obligation liability represents the Company's obligation over the lease term. The Company's lease obligation is recorded at the present value of the lease payments based on the term of the applied lease. Short-term leases of 12 months or less are recorded on the Consolidated Balance Sheets and lease payments are recognized on the Consolidated Statements of Income and Comprehensive Income.
Variable Interest Entities	The Company and certain related parties are equity investors in one investment which the Company determined is a variable interest entity ("VIE") as a result of participation in the risks and rewards of the VIE based on the objectives and strategies of the VIE. The VIE is a limited liability company that primarily invests in commercial real estate. The Company and certain related parties are not the primary beneficiaries largely due to their inability to influence management or direct the activities that most significantly impact the VIE's economic performance. Based on these facts and circumstances, the Company has a variable interest in the VIE, but has not consolidated the VIE's financial results as it is not the primary beneficiary. The Company's investment is reported in other long-term investments in the Consolidated Balance Sheets and accounted for under the equity method of accounting.
Credit Losses	The Company recognizes credit losses for our available-for-sale fixed-maturity portfolio, reinsurance receivables, mortgage loans and premium receivables by setting up allowances which are remeasured each reporting period and recorded in the Consolidated Statements of Income and Comprehensive Income. For our available-for-sale fixed-maturity portfolio an allowance for credit losses is recorded net of available-for-sale fixed maturities in the Consolidated Balance Sheets and a corresponding credit loss recognized as a realized loss or gain in the Consolidated Statements of Income and Comprehensive Income. The Company determines if an allowance for credit losses is recorded based on a number of factors including current economic conditions, management's expectations of future economic conditions and performance indicators, such as market value versus amortized cost, investment spreads widening or contracting, rating actions, payment and default history. For more information on credit losses and the allowance for credit losses for our available-for-sale fixed-maturity portfolio, see Note 2 "Summary of Investments." An allowance for mortgage loan losses is established based on historical loss information of the collective pool of the Company's commercial mortgage loan investments which have similar risk characteristics. To calculate the allowance for mortgage loan losses, the Company starts with historical loan experience to predict the future expected losses and then layers on a market-linked adjustment. On a quarterly basis, quantitative credit risk metrics, including, for example, cash-flows, rent rolls and financial statements are reviewed for each loan to determine if it is performing in line with its expectations. This allowance is presented as a separate line in the Consolidated Balance Sheets beneath the asset value as well as presented net and recorded through "Net investment gains (losses)" in the Consolidated Statements of Income and Comprehensive Income. For more information on credit losses and the allowance for credit losses for our investment in mortgage loans see Note 3 "Fair Value of Financial Instruments."
Subsequent Events	In the preparation of the accompanying financial statements, the Company has evaluated all material subsequent events or transactions that occurred after the balance sheet date through the date on which the financial statements were issued for potential recognition or disclosure in the Company's financial statements.
Recently Issued Accounting Standards	Accounting Standards Adopted in 2022 Inflation Reduction Act
Fair Value of Financial Instruments	Current accounting guidance on fair value measurements includes the application of a fair value hierarchy that requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Our financial instruments that are recorded at fair value are categorized into a three-level hierarchy, which is based upon the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets (i.e., Level 1) and the lowest priority to unobservable inputs (i.e., Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the financial instrument. Financial instruments recorded at fair value are categorized in the fair value hierarchy as follows: • Level 1 : Valuations are based on unadjusted quoted prices in active markets for identical financial instruments that we have the ability to access. • Level 2 : Valuations are based on quoted prices for similar financial instruments, other than quoted prices included in Level 1, in markets that are not active or on inputs that are observable either directly or indirectly for the full term of the financial instrument. • Level 3 : Valuations are based on pricing or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement of the financial instrument. Such inputs may reflect management's own assumptions about the assumptions a market participant would use in pricing the financial instrument. We review our fair value hierarchy categorizations on a quarterly basis at which time the classification of certain financial instruments may change if the input observations have changed. Transfers between levels, if any, are recorded as of the beginning of the reporting period. To determine the fair value of the majority of our investments, we utilize prices obtained from independent, nationally recognized pricing services. We obtain one price for each security. When the pricing services cannot provide a determination of fair value for a specific security, we obtain non-binding price quotes from broker-dealers with whom we have had several years' experience and who have demonstrated knowledge of the subject security. In order to determine the proper classification in the fair value hierarchy, we obtain and evaluate the vendors' pricing procedures and inputs used to price the security, which include unadjusted quoted market prices for identical securities, such as a New York Stock Exchange closing price, and quoted prices for identical securities in markets that are not active. For fixed maturity securities, an evaluation of interest rates and yield curves observable at commonly quoted intervals, volatility, prepayment speeds, credit risks and default rates may also be performed. We have determined that these processes and inputs result in fair values and classifications consistent with the applicable accounting guidance on fair value measurements. When possible, we use quoted market prices to determine the fair value of fixed maturities, equity securities, trading securities and short-term investments. When quoted market prices do not exist, we base estimates of fair value on market information obtained from independent pricing services and brokers or on valuation techniques that are both unobservable and significant to the overall fair value measurement of the financial instrument. Such inputs may reflect management's own assumptions about the assumptions a market participant would use in pricing the financial instrument. Our valuation techniques are discussed in more detail throughout this section. The mortgage loan portfolio consists entirely of commercial mortgage loans. The fair value of our mortgage loans is determined by modeling performed by our third-party fund manager based on the stated principal and coupon payments provided for in the loan agreements. These cash flows are then discounted using an appropriate risk-adjusted discount rate to determine the security's fair value. Our other long-term investments consist primarily of our interests in limited liability partnerships that are recorded on the equity method of accounting. The fair value of the partnerships is obtained from the fund managers, which is based on the fair value of the underlying investments held in the partnerships. In management's opinion, these values represent a reasonable estimate of fair value. We have not adjusted the net asset value provided by the fund managers. For cash and cash equivalents and accrued investment income, carrying value is a reasonable estimate of fair value due to the short-term nature of these financial instruments. The Company formed a rabbi trust in 2014 to fund obligations under the United Fire & Casualty Company Supplemental Executive Retirement and Deferral Plan (the "Executive Retirement Plan"). Within the rabbi trust, corporate-owned life insurance ("COLI") policies are utilized as an investment vehicle and source of funding for the Company's Executive Retirement Plan. The COLI policies invest in mutual funds, which are priced daily by independent sources. As of September 30, 2023, the cash surrender value of the COLI policies was $11,000 w hich is equal to the fair value measured using Level 2 inputs, based on the underlying assets of the COLI policie s, and is included in other assets in the Consolidated Balance Sheets. Our long-term debt is not carried in the Consolidated Balance Sheet at fair value. The fair value of our long-term debt is estimated using Level 2 inputs based on quoted prices for similar financial instruments. The fair value is estimated using a discounted cash flow analysis. The fair value of securities that are categorized as Level 1 is based on quoted market prices that are readily and regularly available. We use a market-based approach for valuing all of our Level 2 securities and submit them primarily to a third-party valuation service provider. Any of these securities not valued by this service provider are submitted to another third-party valuation service provider. Both service providers use a market approach to find pricing of similar financial instruments. The market inputs our service providers normally seek to value our securities include the following, listed in approximate order of priority: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications. The method and inputs for these securities classified as Level 2 are the same regardless of industry category, credit quality, duration, geographical concentration or economic characteristics. For our mortgage-backed securities, collateralized mortgage obligations and asset-backed securities, our service providers use additional market inputs to value these securities, including the following: new issue data, periodic payment information, monthly payment information, collateral performance and real estate analysis from third parties. Our service providers prioritize inputs based on market conditions, and not all inputs listed are available for use in the valuation process for each security on any given day. At least annually, we review the methodologies and assumptions used by our valuation service providers and verify that they are reasonable and representative of the fair value of the underlying securities held in the investment portfolio. We validate the prices obtained from independent pricing services and brokers prior to their use for reporting purposes by evaluating their reasonableness on a monthly basis. In addition, on a quarterly basis, we also test all securities in the portfolio and independently corroborate the valuations obtained from our third-party valuation service providers. Quarterly, we also perform deep dive analyses of the pricing method used by our third-party valuation service provider by selecting a random sample of securities by asset class and reviewing methodologies. In our opinion, the pricing obtained at September 30, 2023 and December 31, 2022 was reasonable. For the three- and nine-month periods ended September 30, 2023, the change in our available-for-sale securities categorized as Level 1 and Level 2 is the result of investment purchases that were made using funds held in our money market accounts, disposals and the change in unrealized gains on both fixed maturities and equity securities. Securities categorized as Level 3 include holdings in certain private placement fixed maturity and equity securities for which an active market does not currently exist. The fair value of our Level 3 private placement securities is determined by management relying on pricing received from our independent pricing services and brokers consistent with the process to estimate fair value for Level 2 securities. However, securities are categorized as Level 3 if these quotes cannot be corroborated by other market observable data due to the unobservable nature of the brokers'
Earnings Per Common Share	Basic earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per share gives effect to all dilutive common shares outstanding during the reporting period. The dilutive shares we consider in our diluted earnings per share calculation relate to our outstanding stock options, restricted stock awards and restricted stock unit awards.We determine the dilutive effect of our outstanding stock options using the "treasury stock" method. Under this method, we assume the exercise of all of the outstanding stock options whose exercise price is less than the weighted-average market value of our common stock during the reporting period. This method also assumes that the proceeds from the hypothetical stock option exercises are used to repurchase shares of our common stock at the weighted-average market value of the stock during the reporting period. The net of the assumed stock options exercised and assumed common shares repurchased represents the number of dilutive common shares, which we add to the denominator of the earnings per share calculation.

Nature of Operations and Basi_3

Nature of Operations and Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Components of Deferred Acquisition Costs	The following table is a summary of the components of DAC, including the related amortization recognized for the nine-month period ended September 30, 2023. Total Recorded asset at beginning of period $ 104,225 Underwriting costs deferred 202,768 Amortization of deferred policy acquisition costs (181,700) Recorded asset at September 30, 2023 $ 125,292
Schedule of Rollforward of Credit Loss Allowance for Reinsurance Receivable	Rollforward of credit loss allowance for reinsurance receivables: As of September 30, 2023 Beginning balance, January 1, 2023 $ 82 Current-period provision for expected credit losses 48 Ending balance of the allowance for reinsurance receivables, September 30, 2023 $ 130

Summary of Investments (Tables)

Summary of Investments (Tables)	9 Months Ended
	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Fair Value of Investments	A reconciliation of the amortized cost to fair value of investments in our available-for-sale fixed maturity portfolio, presented on a consolidated basis, as of September 30, 2023 and December 31, 2022, is provided below: September 30, 2023 Type of Investment Cost or Amortized Cost Gross Unrealized Appreciation Gross Unrealized Depreciation Fair Value Allowance for Credit Losses Carrying Value AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury $ 68,133 $ — $ 1,260 $ 66,873 $ — $ 66,873 U.S. government agency 104,695 16 12,813 91,898 — 91,898 States, municipalities and political subdivisions General obligations: Midwest 58,724 — 1,843 56,881 — 56,881 Northeast 11,440 — 441 10,999 — 10,999 South 55,335 — 2,201 53,134 — 53,134 West 78,044 — 2,718 75,326 — 75,326 Special revenue: Midwest 101,204 1 4,327 96,878 — 96,878 Northeast 52,836 — 2,284 50,552 — 50,552 South 168,395 — 8,895 159,500 — 159,500 West 105,521 — 5,005 100,516 — 100,516 Foreign bonds 21,251 — 2,915 18,336 — 18,336 Public utilities 143,162 14 15,759 127,417 — 127,417 Corporate bonds Energy 45,368 — 3,768 41,600 — 41,600 Industrials 73,635 38 7,705 65,968 — 65,968 Consumer goods and services 100,300 — 11,794 88,506 — 88,506 Health care 37,903 — 6,366 31,537 — 31,537 Technology, media and telecommunications 90,285 — 10,037 80,248 — 80,248 Financial services 145,477 — 12,315 133,162 126 133,036 Mortgage-backed securities 24,470 — 3,463 21,007 — 21,007 Collateralized mortgage obligations Government national mortgage association 163,893 — 17,223 146,670 — 146,670 Federal home loan mortgage corporation 88,565 — 16,716 71,849 — 71,849 Federal national mortgage association 52,114 — 6,227 45,887 — 45,887 Asset-backed securities 3,575 456 137 3,894 — 3,894 Total Available-for-Sale Fixed Maturities $ 1,794,325 $ 525 $ 156,212 $ 1,638,638 $ 126 $ 1,638,512 December 31, 2022 Type of Investment Cost or Amortized Cost Gross Unrealized Appreciation Gross Unrealized Depreciation Fair Value Allowance for Credit Losses Carrying Value AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury $ 15,684 $ — $ 1,009 $ 14,675 $ — $ 14,675 U.S. government agency 94,092 35 9,721 84,406 — 84,406 States, municipalities and political subdivisions General obligations: Midwest 61,191 185 263 61,113 — 61,113 Northeast 15,518 18 73 15,463 — 15,463 South 64,851 57 927 63,981 — 63,981 West 87,094 163 712 86,545 — 86,545 Special revenue: Midwest 103,107 224 1,065 102,266 — 102,266 Northeast 55,292 76 1,148 54,220 — 54,220 South 184,108 278 3,529 180,857 — 180,857 West 113,594 275 1,657 112,212 — 112,212 Foreign bonds 36,129 — 4,480 31,649 — 31,649 Public utilities 138,752 65 13,406 125,411 — 125,411 Corporate bonds Energy 36,507 — 3,298 33,209 — 33,209 Industrials 58,334 62 5,554 52,842 — 52,842 Consumer goods and services 100,539 — 10,598 89,941 — 89,941 Health care 32,987 24 5,419 27,592 — 27,592 Technology, media and telecommunications 67,193 — 7,253 59,940 — 59,940 Financial services 132,849 851 9,408 124,292 3 124,289 Mortgage-backed securities 20,450 — 2,750 17,700 — 17,700 Collateralized mortgage obligations Government national mortgage association 97,839 — 13,291 84,548 — 84,548 Federal home loan mortgage corporation 92,366 — 13,528 78,838 — 78,838 Federal national mortgage association 50,272 5 4,891 45,386 — 45,386 Asset-backed securities 3,932 466 145 4,253 — 4,253 Total Available-for-Sale Fixed Maturities $ 1,662,680 $ 2,784 $ 114,125 $ 1,551,339 $ 3 $ 1,551,336
Schedule of Maturities	The amortized cost and fair value of available-for-sale fixed maturity securities at September 30, 2023, by contractual maturity, are shown in the following tables. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Asset-backed securities, mortgage-backed securities and collateralized mortgage obligations may be subject to prepayment risk and are therefore not categorized by contractual maturity. Maturities Available-For-Sale September 30, 2023 Amortized Cost Fair Value Due in one year or less $ 84,646 $ 84,052 Due after one year through five years 518,815 496,253 Due after five years through 10 years 530,822 476,969 Due after 10 years 327,424 292,056 Asset-backed securities 3,575 3,894 Mortgage-backed securities 24,470 21,007 Collateralized mortgage obligations 304,573 264,407 $ 1,794,325 $ 1,638,638
Summary of Net Realized Investment Gains and Losses	A summary of the components of net investment gains (losses) is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Net investment gains (losses): Fixed maturities: Available-for-sale $ (19) $ (98) $ (445) $ (1,397) Allowance for credit losses (125) (91) (123) (91) Equity securities Change in the fair value 204 (13,078) (1,960) (32,403) Sales (2,085) (93) 150 (1,767) Mortgage loans allowance for credit losses 1 — (5) 5 Other long-term investments 64 (187) (245) (229) Real estate — (703) 47 235 Total net investment gains (losses) $ (1,960) $ (14,250) $ (2,581) $ (35,647)
Schedule of Proceeds and Gross Realized Gains and Losses	The proceeds and gross realized gains (losses) on the sale of available-for-sale fixed maturity securities are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Proceeds from sales $ 4,940 $ 18,399 $ 48,749 $ 83,409 Gross realized gains — 12 121 459 Gross realized losses 19 110 566 1,857
Schedule of Unrealized Investment Appreciation and Depreciation	A summary of the changes in net unrealized investment appreciation during the reporting period is as follows: Nine Months Ended September 30, 2023 2022 Change in net unrealized investment appreciation (depreciation) Available-for-sale fixed maturities $ (44,087) $ (197,594) Income tax effect 9,258 41,495 Total change in net unrealized investment appreciation (depreciation), net of tax $ (34,829) $ (156,099)
Schedule of Rollforward of Allowance for Credit Losses for Available-for-Sale Fixed Maturity Securities	The following table contains a rollforward of the allowance for credit losses for available-for-sale fixed maturity securities at September 30, 2023. Rollforward of allowance for credit losses for available-for-sale fixed maturity securities: As of September 30, 2023 Beginning balance, January 1, 2023 $ 3 Additions to the allowance for credit losses for which credit losses were not previously recorded 123 Reductions for securities sold during the period (realized) — Write-offs charged against the allowance — Recoveries of amounts previously written off — Ending balance, September 30, 2023 $ 126
Summary of Fixed Maturity Securities in an Unrealized Loss Position	The following tables summarize our fixed maturity securities that were in an unrealized loss position reported on a consolidated basis at September 30, 2023 and December 31, 2022. The securities are presented by the length of time they have been continuously in an unrealized loss position. Non-credit related unrealized losses are recognized as a component of other comprehensive income and represent other market movements that are not credit related, for example interest rate changes. We have no intent to sell, and it is more likely than not that we will not be required to sell, these securities until the fair value recovers to at least equal our cost basis or the securities mature. September 30, 2023 Less than 12 months 12 months or longer Total Type of Investment Number Fair Gross Unrealized Number Fair Gross Unrealized Depreciation Fair Gross Unrealized Depreciation AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury 5 $ 54,358 $ 390 6 $ 12,515 $ 870 $ 66,873 $ 1,260 U.S. government agency 3 10,643 336 25 75,239 12,477 85,882 12,813 States, municipalities and political subdivisions General obligations Midwest 30 45,359 1,360 3 10,357 483 55,716 1,843 Northeast 4 7,716 214 1 3,283 227 10,999 441 South 23 37,383 989 9 15,751 1,212 53,134 2,201 West 26 54,944 1,498 8 20,382 1,220 75,326 2,718 Special revenue Midwest 38 71,273 2,694 11 22,054 1,633 93,327 4,327 Northeast 11 27,061 956 8 23,491 1,328 50,552 2,284 South 42 95,076 3,480 33 64,424 5,415 159,500 8,895 West 39 59,134 2,017 19 41,380 2,988 100,514 5,005 Foreign bonds — — — 9 18,336 2,915 18,336 2,915 Public utilities 7 17,689 621 49 109,217 15,138 126,906 15,759 Corporate bonds Energy 4 8,604 294 15 32,996 3,474 41,600 3,768 Industrials 6 14,842 331 22 47,010 7,374 61,852 7,705 Consumer goods and services 7 22,863 976 28 65,643 10,818 88,506 11,794 Health care 3 6,604 223 11 24,933 6,143 31,537 6,366 Technology, media and telecommunications 5 17,505 865 28 61,492 9,172 78,997 10,037 Financial services 10 24,655 1,090 44 108,507 11,225 133,162 12,315 Mortgage-backed securities 4 5,656 195 48 15,352 3,268 21,008 3,463 Collateralized mortgage obligations Government National Mortgage Association 18 75,767 1,169 40 70,903 16,054 146,670 17,223 Federal Home Loan Mortgage Corporation 3 7,655 2,523 32 64,194 14,193 71,849 16,716 Federal National Mortgage Association 6 14,078 421 20 31,810 5,806 45,888 6,227 Asset-backed securities — — — 1 3,095 137 3,095 137 Total Available-for-Sale Fixed Maturities 294 $ 678,865 $ 22,642 470 $ 942,364 $ 133,570 $ 1,621,229 $ 156,212 December 31, 2022 Less than 12 months 12 months or longer Total Type of Investment Number Fair Gross Unrealized Depreciation Number Fair Gross Unrealized Depreciation Fair Gross Unrealized Depreciation AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury 4 $ 6,656 $ 212 4 $ 8,019 $ 797 $ 14,675 $ 1,009 U.S. government agency 24 70,158 5,606 3 11,242 4,115 81,400 9,721 States, municipalities and political subdivisions General obligations Midwest 16 29,089 263 — — — 29,089 263 Northeast 4 8,576 73 — — — 8,576 73 South 24 48,235 927 — — — 48,235 927 West 27 62,652 711 — — — 62,652 711 Special revenue Midwest 35 67,101 1,065 — — — 67,101 1,065 Northeast 14 37,484 1,148 — — — 37,484 1,148 South 58 126,388 3,124 1 866 405 127,254 3,529 West 39 83,622 1,658 — — — 83,622 1,658 Foreign bonds 9 21,377 1,861 5 10,272 2,619 31,649 4,480 Public utilities 45 101,867 8,737 9 19,979 4,669 121,846 13,406 Corporate bonds Energy 15 28,612 1,930 1 4,597 1,368 33,209 3,298 Industrials 21 43,639 3,542 4 7,049 2,012 50,688 5,554 Consumer goods and services 28 69,320 4,440 7 20,620 6,157 89,940 10,597 Health care 5 9,829 487 6 15,928 4,933 25,757 5,420 Technology, media and telecommunications 23 49,970 3,279 5 9,970 3,974 59,940 7,253 Financial services 40 101,411 6,997 5 11,236 2,208 112,647 9,205 Mortgage-backed securities 38 7,909 1,056 12 9,791 1,693 17,700 2,749 Collateralized mortgage obligations Government National Mortgage Association 29 48,898 4,500 12 35,650 8,791 84,548 13,291 Federal Home Loan Mortgage Corporation 21 35,456 5,629 19 43,383 7,900 78,839 13,529 Federal National Mortgage Association 14 24,146 1,281 7 16,674 3,611 40,820 4,892 Asset-backed securities 1 3,452 145 — — — 3,452 145 Total Available-for-Sale Fixed Maturities 534 $ 1,085,847 $ 58,671 100 $ 225,276 $ 55,252 $ 1,311,123 $ 113,923

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Summary of Carrying Value and Estimated Fair Value of Financial Instruments	A summary of the carrying value and estimated fair value of our financial instruments at September 30, 2023 and December 31, 2022 is as follows: September 30, 2023 December 31, 2022 Fair Value Carrying Value Fair Value Carrying Value Assets Investments Fixed maturities: Available-for-sale securities $ 1,638,638 $ 1,638,512 $ 1,551,339 $ 1,551,336 Equity securities 51,217 51,217 169,106 169,106 Mortgage loans 42,280 45,534 35,302 37,898 Other long-term investments 93,836 93,836 86,276 86,276 Short-term investments — — 275 275 Cash and cash equivalents 69,150 69,150 96,650 96,650 Corporate-owned life insurance 11,000 11,000 10,588 10,588 Liabilities Long Term Debt 34,456 50,000 36,168 50,000
Summary of Financial Instruments Measured at Fair Value on Recurring Basis	The following tables present the categorization for our financial instruments measured at fair value on a recurring basis. The table includes financial instruments at September 30, 2023 and December 31, 2022: September 30, 2023 Fair Value Measurements Description Total Level 1 Level 2 Level 3 AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury $ 66,873 $ — $ 66,873 $ — U.S. government agency 91,898 — 91,898 — States, municipalities and political subdivisions General obligations Midwest 56,881 — 56,881 — Northeast 10,999 — 10,999 — South 53,134 — 53,134 — West 75,326 — 75,326 — Special revenue Midwest 96,878 — 96,878 — Northeast 50,552 — 50,552 — South 159,500 — 159,500 — West 100,516 — 100,516 — Foreign bonds 18,336 — 18,336 — Public utilities 127,417 — 127,417 — Corporate bonds Energy 41,600 — 41,600 — Industrials 65,968 — 65,968 — Consumer goods and services 88,506 — 88,506 — Health care 31,537 — 31,537 — Technology, media and telecommunications 80,248 — 80,248 — Financial services 133,162 — 128,462 4,700 Mortgage-backed securities 21,007 — 21,007 — Collateralized mortgage obligations Government national mortgage association 146,670 — 146,670 — Federal home loan mortgage corporation 71,849 — 71,849 — Federal national mortgage association 45,887 — 45,887 — Asset-backed securities 3,894 — 3,095 799 Total Available-for-Sale Fixed Maturities $ 1,638,638 $ — $ 1,633,139 $ 5,499 EQUITY SECURITIES Common stocks Public utilities $ 3,703 $ 3,703 $ — $ — Energy 9,536 9,536 — — Industrials 13,023 13,023 — — Consumer goods and services 11,127 11,127 — — Health care 1,959 1,959 — — Technology, media and telecommunications 5,612 5,612 — — Financial services 6,257 6,257 — — Total Equity Securities $ 51,217 $ 51,217 $ — $ — Short-Term Investments $ — $ — $ — $ — Money Market Accounts $ 13,977 $ 13,977 $ — $ — Corporate-Owned Life Insurance $ 11,000 $ — $ 11,000 $ — Total Assets Measured at Fair Value $ 1,714,832 $ 65,194 $ 1,644,139 $ 5,499 December 31, 2022 Fair Value Measurements Description Total Level 1 Level 2 Level 3 AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury $ 14,675 $ — $ 14,675 $ — U.S. government agency 84,406 — 84,406 — States, municipalities and political subdivisions General obligations Midwest 61,113 — 61,113 — Northeast 15,463 — 15,463 — South 63,981 — 63,981 — West 86,545 — 86,545 — Special revenue Midwest 102,266 — 102,266 — Northeast 54,220 — 54,220 — South 180,857 — 180,857 — West 112,212 — 112,212 — Foreign bonds 31,649 — 31,649 — Public utilities 125,411 — 125,411 — Corporate bonds Energy 33,209 — 33,209 — Industrials 52,842 — 52,842 — Consumer goods and services 89,941 — 89,941 — Health care 27,592 — 27,592 — Technology, media and telecommunications 59,940 — 59,940 — Financial services 124,292 — 118,617 5,675 Mortgage-backed securities 17,700 — 17,700 — Collateralized mortgage obligations Government national mortgage association 84,548 — 84,548 — Federal home loan mortgage corporation 78,838 — 78,838 — Federal national mortgage association 45,386 — 45,386 — Asset-backed securities 4,253 — 3,452 801 Total Available-for-Sale Fixed Maturities $ 1,551,339 $ — $ 1,544,863 $ 6,476 EQUITY SECURITIES Common stocks Public utilities $ 14,846 $ 14,846 $ — $ — Energy 19,743 19,743 — — Industrials 27,163 27,163 — — Consumer goods and services 43,139 43,139 — — Health care 7,981 7,981 — — Technology, media and telecommunications 28,213 28,213 — — Financial services 28,021 28,021 — — Total Equity Securities $ 169,106 $ 169,106 $ — $ — Short-Term Investments $ 275 $ 275 $ — $ — Money Market Accounts $ 31,289 $ 31,289 $ — $ — Corporate-Owned Life Insurance $ 10,588 $ — $ 10,588 $ — Total Assets Measured at Fair Value $ 1,762,597 $ 200,670 $ 1,555,451 $ 6,476
Summary of Quantitative Information About Level 3 Fair Value Measurements	The following table provides quantitative information about our Level 3 securities at September 30, 2023: Quantitative Information about Level 3 Fair Value Measurements Fair Value at Valuation Technique(s) Unobservable inputs Range of weighted average significant unobservable inputs September 30, 2023 Fixed Maturities corporate $ 4,700 Third-party valuation Offered quotes 90.0% - 100.0% Fixed Maturities asset-backed securities 799 Discounted cash flow Probability of default 4% - 6%
Changes in Fair Value of Level 3 Securities	The following table provides a summary of the changes in fair value of our Level 3 securities for the three-month period ended September 30, 2023: Corporate bonds Asset-backed securities Total Beginning Balance - July 1, 2023 $ 4,765 $ 837 $ 5,602 Net unrealized gains (losses) (1) (65) (38) (103) Ending Balance - September 30, 2023 $ 4,700 $ 799 $ 5,499 (1) Net unrealized gains (losses) are recorded as a component of comprehensive income. The following table provides a summary of the changes in fair value of our Level 3 securities for the nine-month period ended September 30, 2023: Corporate bonds Asset-backed securities Total Beginning Balance - January 1, 2023 $ 5,675 $ 801 $ 6,476 Net unrealized gains (losses) (1) (975) (2) (977) Ending Balance - September 30, 2023 $ 4,700 $ 799 $ 5,499 (1) Net unrealized gains (losses) are recorded as a component of comprehensive income.
Summary of Carrying Value of Commercial Mortgage Loans by Loan-to-Value Ratio	The following tables present the carrying value of our commercial mortgage loans and additional information at September 30, 2023 and December 31, 2022: Commercial Mortgage Loans September 30, 2023 December 31, 2022 Loan-to-value Carrying Value Carrying Value Less than 65% $ 36,883 $ 29,231 65%-75% 8,706 8,716 Total amortized cost $ 45,589 $ 37,947 Allowance for mortgage loan losses (55) (49) Mortgage loans, net $ 45,534 $ 37,898 Mortgage Loans by Region September 30, 2023 December 31, 2022 Carrying Value Percent of Total Carrying Value Percent of Total East North Central $ 3,245 7.1 % $ 3,245 8.6 % Southern Atlantic 17,265 37.8 9,397 24.7 East South Central 7,591 16.7 7,783 20.5 New England 6,588 14.5 6,588 17.4 Middle Atlantic 6,020 13.2 6,139 16.2 Mountain 1,992 4.4 1,992 5.2 West North Central 2,888 6.3 2,803 7.4 Total mortgage loans at amortized cost $ 45,589 100.0 % $ 37,947 100.0 % Mortgage Loans by Property Type September 30, 2023 December 31, 2022 Carrying Value Percent of Total Carrying Value Percent of Total Commercial Multifamily $ 8,536 18.7 % $ 8,493 22.4 % Office 11,030 24.3 11,267 29.7 Industrial 10,003 21.9 10,056 26.5 Retail 10,000 21.9 1,992 5.2 Mixed use/Other 6,020 13.2 6,139 16.2 Total mortgage loans at amortized cost $ 45,589 100.0 % $ 37,947 100.0 %
Summary of Amortized Cost Basis by Year of Origination and Credit Quality Indicator	Amortized Cost Basis by Year of Origination and Credit Quality Indicator 2023 2022 2020 2019 2018 Total Commercial mortgage loans: Risk Rating: 1-2 internal grade $ 8,136 $ 100 5,292 $ 7,897 $ 17,576 $ 39,001 3-4 internal grade — — — — 6,588 6,588 5 internal grade — — — — — — 6 internal grade — — — — — — 7 internal grade — — — — — — Total commercial mortgage loans $ 8,136 $ 100 $ 5,292 $ 7,897 $ 24,164 $ 45,589 Current-period write-offs — — — — — — Current-period recoveries — — — — — — Current-period net write-offs $ — $ — $ — $ — $ — $ —
Summary of Rollforward of Allowance for Mortgage Loan Losses	As of September 30, 2023, the Company had an allowance for mortgage loan losses of $55, summarized in the following rollforward: Rollforward of allowance for mortgage loan losses: As of September 30, 2023 Beginning balance, January 1, 2023 $ 49 Current-period provision for expected credit losses 6 Ending balance of the allowance for mortgage loan losses, September 30, 2023 $ 55

Reserves for Losses and Loss _2

Reserves for Losses and Loss Settlement Expenses (Tables)	9 Months Ended
	Sep. 30, 2023
Insurance Loss Reserves [Abstract]
Summary of Changes in Property and Casualty Losses and Loss Settlement Expense Reserves	The following table provides an analysis of changes in our property and casualty losses and loss settlement expense reserves at September 30, 2023 and December 31, 2022 (net of reinsurance amounts): September 30, 2023 December 31, 2022 Gross liability for losses and loss settlement expenses $ 1,497,274 $ 1,514,265 Ceded losses and loss settlement expenses (146,875) (112,900) Net liability for losses and loss settlement expenses $ 1,350,399 $ 1,401,365 Losses and loss settlement expenses incurred Current year $ 538,941 $ 624,411 Prior years 59,184 12,890 Total incurred $ 598,125 $ 637,301 Losses and loss settlement expense payments Current year $ 131,408 $ 215,891 Prior years 371,723 472,377 Total paid $ 503,131 $ 688,268 Net liability for losses and loss settlement expenses $ 1,445,394 $ 1,350,399 Ceded losses and loss settlement expenses 191,525 146,875 Gross liability for losses and loss settlement expenses $ 1,636,918 $ 1,497,274

Employee Benefits (Tables)

Employee Benefits (Tables)	9 Months Ended
	Sep. 30, 2023
Retirement Benefits [Abstract]
Summary of Components of Net Periodic Benefit Cost	The components of the net periodic benefit cost for our pension and postretirement benefit plans are as follows: Pension Plan Postretirement Benefit Plan Three Months Ended September 30, 2023 2022 2023 2022 Net periodic benefit cost Service cost $ 954 $ 1,120 $ — $ — Interest cost 2,526 1,933 — 1 Expected return on plan assets (3,756) (4,723) — — Amortization of prior service credit (820) (820) — (3,771) Amortization of net loss 52 194 — 706 Net periodic benefit cost $ (1,044) $ (2,296) $ — $ (3,064) Pension Plan Postretirement Benefit Plan Nine Months Ended September 30, 2023 2022 2023 2022 Net periodic benefit cost Service cost $ 2,863 $ 3,361 $ — $ — Interest cost 7,579 5,798 — 2 Expected return on plan assets (11,269) (14,168) — — Amortization of prior service credit (2,460) (2,460) — (11,314) Amortization of net loss 155 583 — 2,118 Net periodic benefit cost $ (3,131) $ (6,887) $ — $ (9,194)

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Summary of Activity in Stock Award Plans	The activity in the Stock Plan is displayed in the following table: Authorized Shares Available for Future Award Grants Nine Months Ended September 30, 2023 From Inception to September 30, 2023 Beginning balance 1,342,119 1,900,000 Additional shares authorized — 2,150,000 Number of awards granted (305,241) (3,927,382) Number of awards forfeited or expired 71,541 985,801 Ending balance 1,108,419 1,108,419 Number of option awards exercised 4,000 1,537,336 Number of unrestricted stock awards granted — 10,090 Number of restricted stock awards vested 28,100 295,945 The activity in the Director Stock Plan is displayed in the following table: Authorized Shares Available for Future Award Grants Nine Months Ended September 30, 2023 From Inception to September 30, 2023 Beginning balance 123,397 300,000 Additional authorization — 150,000 Number of awards granted (31,380) (386,618) Number of awards forfeited or expired 11,583 40,218 Ending balance 103,600 103,600 Number of option awards exercised 1,755 152,336 Number of restricted stock awards vested — 117,001
Summary of Remaining Stock-Based Compensation Expense	We expect this compensation to be recognized over the remainder of 2023 and subsequent years according to the table below, except with respect to awards that are accelerated by the Board of Directors, in which case we will recognize any remaining compensation expense in the period in which the awards are accelerated. 2023 $ 1,034 2024 3,364 2025 1,878 2026 266 2027 — Total $ 6,542

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Summary of Components of Basic and Diluted Earnings Per Share	The components of basic and diluted earnings per share were as follows for the three- and nine-month periods ended September 30, 2023 and 2022: Three Months Ended September 30, (In Thousands, Except Share Data) 2023 2022 Basic Diluted Basic Diluted Net income (loss) $ 6,380 $ 6,380 $ (22,981) $ (22,981) Weighted-average common shares outstanding 25,263,523 25,263,523 25,188,958 25,188,958 Add dilutive effect of restricted stock unit awards — 295,997 — — Add dilutive effect of stock options — 19,814 — — Weighted-average common shares outstanding 25,263,523 25,579,334 25,188,958 25,188,958 Earnings (loss) per common share $ 0.25 $ 0.25 $ (0.91) $ (0.91) Awards excluded from diluted earnings per share calculation (1) — 837,482 — 392,062 (1) Outstanding awards that are not "in-the-money" are excluded from the diluted earnings per share calculation because the effect of including them would have been anti-dilutive. Nine Months Ended September 30, (In Thousands, Except Share Data) 2023 2022 Basic Diluted Basic Diluted Net income (loss) $ (49,308) $ (49,308) $ (5,089) $ (5,089) Weighted-average common shares outstanding 25,244,502 25,244,502 25,146,318 25,146,318 Add dilutive effect of restricted stock unit awards — — — — Add dilutive effect of stock options — — — — Weighted-average common shares outstanding 25,244,502 25,244,502 25,146,318 25,146,318 Earnings (loss) per common share $ (1.95) $ (1.95) $ (0.20) $ (0.20) Awards excluded from diluted earnings per share calculation (1) — 814,636 — 479,981 (1) Outstanding awards that are not "in-the-money" are excluded from the diluted earnings per share calculation because the effect of including them would have been anti-dilutive.

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Interest Payments	As a result of this downgrade, the interest rate on the long term debt will increase to 6.875%, beginning with the December 15, 2023 payment, in accordance with the table below. A.M. Best Co. Financial Strength Rating Applicable Interest Rate A+ 5.875% A 6.375% A- 6.875% B++ (or lower) 7.375%

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table shows the changes in the components of our accumulated other comprehensive income (loss), net of tax, for the three-month period ended September 30, 2023: Liability for Net unrealized underfunded appreciation employee on investments benefit costs (1) Total Balance as of June 30, 2023 (89,094) (341) $ (89,435) Change in accumulated other comprehensive income (loss) before reclassifications (34,166) (646) (34,812) Reclassification adjustments from accumulated other comprehensive income (loss) 62 40 102 Balance as of September 30, 2023 $ (123,198) $ (947) $ (124,145) (1) The preparation of financial statements in conformity with GAAP requires us to make various estimates and assumptions that affect the reporting of net periodic benefit cost, plan assets and plan obligations for each plan at the date of the financial statements. Actual results could differ from these estimates. One significant estimate relates to the calculation of the benefit obligation for each plan. We annually establish the discount rate, which is an estimate of the interest rate at which these benefits could be effectively settled, that is used to determine the present value of the respective plan's benefit obligations as of December 31. The following table shows the changes in the components of our accumulated other comprehensive income (loss), net of tax, for the nine-month period ended September 30, 2023: Liability for Net unrealized underfunded appreciation employee on investments benefit costs (1) Total Balance as of January 1, 2023 (88,369) 873 $ (87,496) Change in accumulated other comprehensive income before reclassifications (35,438) (1,942) (37,380) Reclassification adjustments from accumulated other comprehensive income (loss) 609 122 731 Balance as of September 30, 2023 $ (123,198) $ (947) $ (124,145)

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Summary of Components of Operating Leases	The components of our operating leases were as follows for the three- and nine-month periods ended September 30, 2023 and 2022: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Components of lease expense: Operating lease expense $ 2,255 $ 2,201 $ 6,653 $ 6,569 Less sublease income 305 53 732 160 Net lease expense 1,950 2,148 5,921 6,409 Cash flows information related to leases: Operating cash outflow from operating leases 1,952 2,170 5,996 6,471

Nature of Operations and Basi_4

Nature of Operations and Basis of Presentation - Segment Information (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($) segment state
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of states in which we are licensed as insurer | state	50
Number of reportable segments | segment	1
Cash on deposit with Lloyd's of London | $	$ 24,383

Nature of Operations and Basi_5

Nature of Operations and Basis of Presentation - Deferred Policy Acquisition Costs (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Recorded asset at beginning of period	$ 104,225
Underwriting costs deferred	202,768
Amortization of deferred policy acquisition costs	(181,700)
Recorded asset at ending of period	$ 125,292

Nature of Operations and Basi_6

Nature of Operations and Basis of Presentation - Goodwill and Other Intangible Assets (Details)	Sep. 30, 2023
Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life	2 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life	15 years

Nature of Operations and Basi_7

Nature of Operations and Basis of Presentation - Long Term Debt (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 15, 2020
Debt Instrument [Line Items]
Interest expense	$ 797,000	$ 797,000	$ 2,391,000	$ 2,391,000
Surplus Notes
Debt Instrument [Line Items]
Principal amount					$ 50,000,000
Surplus Notes | Federated Mutual
Debt Instrument [Line Items]
Principal amount					35,000,000
Surplus Notes | Federated Life
Debt Instrument [Line Items]
Principal amount					$ 15,000,000

Nature of Operations and Basi_8

Nature of Operations and Basis of Presentation - Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Federal income tax benefit	$ (1,996,000)	$ 8,248,000	$ 14,544,000	$ 5,475,000
Liability for unrecognized tax benefits	0		0		$ 0
Valuation allowance	$ 0		0		$ 0
Income taxes paid			1,336,000	21,537,000
Federal tax refund received			$ 0	$ 10,789,000

Nature of Operations and Basi_9

Nature of Operations and Basis of Presentation - Variable Interest Entities (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($) variable_interest_entity	Dec. 31, 2022 USD ($)
Variable Interest Entity [Line Items]
Number of variable interest entities | variable_interest_entity	1
Fair value of VIE	$ 3,051,779	$ 2,882,286
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Fair value of VIE	$ 2,650

Nature of Operations and Bas_10

Nature of Operations and Basis of Presentation - Credit Losses (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Credit loss allowance for reinsurance receivables	$ 130	$ 82

Nature of Operations and Bas_11

Nature of Operations and Basis of Presentation - Rollforward of Credit Loss Allowance for Reinsurance Receivable (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Reinsurance Recoverable, Allowance for Credit Loss [Roll Forward]
Beginning balance, January 1, 2023	$ 82
Current-period provision for expected credit losses	48
Ending balance of the allowance for reinsurance receivables, September 30, 2023	$ 130

Summary of Investments - Fair V

Summary of Investments - Fair Value of Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fixed maturities:
Amortized Cost	$ 1,794,325	$ 1,662,680
Gross Unrealized Appreciation	525	2,784
Gross Unrealized Depreciation	156,212	114,125
Fair Value	1,638,638	1,551,339
Allowance for Credit Losses	126	3
Carrying Value	1,638,512	1,551,336
U.S. Treasury
Fixed maturities:
Amortized Cost	68,133	15,684
Gross Unrealized Appreciation	0	0
Gross Unrealized Depreciation	1,260	1,009
Fair Value	66,873	14,675
Allowance for Credit Losses	0	0
Carrying Value	66,873	14,675
U.S. government agency
Fixed maturities:
Amortized Cost	104,695	94,092
Gross Unrealized Appreciation	16	35
Gross Unrealized Depreciation	12,813	9,721
Fair Value	91,898	84,406
Allowance for Credit Losses	0	0
Carrying Value	91,898	84,406
General obligations | Midwest
Fixed maturities:
Amortized Cost	58,724	61,191
Gross Unrealized Appreciation	0	185
Gross Unrealized Depreciation	1,843	263
Fair Value	56,881	61,113
Allowance for Credit Losses	0	0
Carrying Value	56,881	61,113
General obligations | Northeast
Fixed maturities:
Amortized Cost	11,440	15,518
Gross Unrealized Appreciation	0	18
Gross Unrealized Depreciation	441	73
Fair Value	10,999	15,463
Allowance for Credit Losses	0	0
Carrying Value	10,999	15,463
General obligations | South
Fixed maturities:
Amortized Cost	55,335	64,851
Gross Unrealized Appreciation	0	57
Gross Unrealized Depreciation	2,201	927
Fair Value	53,134	63,981
Allowance for Credit Losses	0	0
Carrying Value	53,134	63,981
General obligations | West
Fixed maturities:
Amortized Cost	78,044	87,094
Gross Unrealized Appreciation	0	163
Gross Unrealized Depreciation	2,718	712
Fair Value	75,326	86,545
Allowance for Credit Losses	0	0
Carrying Value	75,326	86,545
Special revenue | Midwest
Fixed maturities:
Amortized Cost	101,204	103,107
Gross Unrealized Appreciation	1	224
Gross Unrealized Depreciation	4,327	1,065
Fair Value	96,878	102,266
Allowance for Credit Losses	0	0
Carrying Value	96,878	102,266
Special revenue | Northeast
Fixed maturities:
Amortized Cost	52,836	55,292
Gross Unrealized Appreciation	0	76
Gross Unrealized Depreciation	2,284	1,148
Fair Value	50,552	54,220
Allowance for Credit Losses	0	0
Carrying Value	50,552	54,220
Special revenue | South
Fixed maturities:
Amortized Cost	168,395	184,108
Gross Unrealized Appreciation	0	278
Gross Unrealized Depreciation	8,895	3,529
Fair Value	159,500	180,857
Allowance for Credit Losses	0	0
Carrying Value	159,500	180,857
Special revenue | West
Fixed maturities:
Amortized Cost	105,521	113,594
Gross Unrealized Appreciation	0	275
Gross Unrealized Depreciation	5,005	1,657
Fair Value	100,516	112,212
Allowance for Credit Losses	0	0
Carrying Value	100,516	112,212
Foreign bonds
Fixed maturities:
Amortized Cost	21,251	36,129
Gross Unrealized Appreciation	0	0
Gross Unrealized Depreciation	2,915	4,480
Fair Value	18,336	31,649
Allowance for Credit Losses	0	0
Carrying Value	18,336	31,649
Public utilities
Fixed maturities:
Amortized Cost	143,162	138,752
Gross Unrealized Appreciation	14	65
Gross Unrealized Depreciation	15,759	13,406
Fair Value	127,417	125,411
Allowance for Credit Losses	0	0
Carrying Value	127,417	125,411
Corporate bonds | Energy
Fixed maturities:
Amortized Cost	45,368	36,507
Gross Unrealized Appreciation	0	0
Gross Unrealized Depreciation	3,768	3,298
Fair Value	41,600	33,209
Allowance for Credit Losses	0	0
Carrying Value	41,600	33,209
Corporate bonds | Industrials
Fixed maturities:
Amortized Cost	73,635	58,334
Gross Unrealized Appreciation	38	62
Gross Unrealized Depreciation	7,705	5,554
Fair Value	65,968	52,842
Allowance for Credit Losses	0	0
Carrying Value	65,968	52,842
Corporate bonds | Consumer goods and services
Fixed maturities:
Amortized Cost	100,300	100,539
Gross Unrealized Appreciation	0	0
Gross Unrealized Depreciation	11,794	10,598
Fair Value	88,506	89,941
Allowance for Credit Losses	0	0
Carrying Value	88,506	89,941
Corporate bonds | Health care
Fixed maturities:
Amortized Cost	37,903	32,987
Gross Unrealized Appreciation	0	24
Gross Unrealized Depreciation	6,366	5,419
Fair Value	31,537	27,592
Allowance for Credit Losses	0	0
Carrying Value	31,537	27,592
Corporate bonds | Technology, media and telecommunications
Fixed maturities:
Amortized Cost	90,285	67,193
Gross Unrealized Appreciation	0	0
Gross Unrealized Depreciation	10,037	7,253
Fair Value	80,248	59,940
Allowance for Credit Losses	0	0
Carrying Value	80,248	59,940
Corporate bonds | Financial services
Fixed maturities:
Amortized Cost	145,477	132,849
Gross Unrealized Appreciation	0	851
Gross Unrealized Depreciation	12,315	9,408
Fair Value	133,162	124,292
Allowance for Credit Losses	126	3
Carrying Value	133,036	124,289
Mortgage-backed securities
Fixed maturities:
Amortized Cost	24,470	20,450
Gross Unrealized Appreciation	0	0
Gross Unrealized Depreciation	3,463	2,750
Fair Value	21,007	17,700
Allowance for Credit Losses	0	0
Carrying Value	21,007	17,700
Collateralized mortgage obligations | Government national mortgage association
Fixed maturities:
Amortized Cost	163,893	97,839
Gross Unrealized Appreciation	0	0
Gross Unrealized Depreciation	17,223	13,291
Fair Value	146,670	84,548
Allowance for Credit Losses	0	0
Carrying Value	146,670	84,548
Collateralized mortgage obligations | Federal home loan mortgage corporation
Fixed maturities:
Amortized Cost	88,565	92,366
Gross Unrealized Appreciation	0	0
Gross Unrealized Depreciation	16,716	13,528
Fair Value	71,849	78,838
Allowance for Credit Losses	0	0
Carrying Value	71,849	78,838
Collateralized mortgage obligations | Federal national mortgage association
Fixed maturities:
Amortized Cost	52,114	50,272
Gross Unrealized Appreciation	0	5
Gross Unrealized Depreciation	6,227	4,891
Fair Value	45,887	45,386
Allowance for Credit Losses	0	0
Carrying Value	45,887	45,386
Asset-backed securities
Fixed maturities:
Amortized Cost	3,575	3,932
Gross Unrealized Appreciation	456	466
Gross Unrealized Depreciation	137	145
Fair Value	3,894	4,253
Allowance for Credit Losses	0	0
Carrying Value	$ 3,894	$ 4,253

Summary of Investments - Maturi

Summary of Investments - Maturities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Amortized Cost
Due in one year or less	$ 84,646
Due after one year through five years	518,815
Due after five years through 10 years	530,822
Due after 10 years	327,424
Amortized Cost	1,794,325	$ 1,662,680
Fair Value
Due in one year or less	84,052
Due after one year through five years	496,253
Due after five years through 10 years	476,969
Due after 10 years	292,056
Fair Value	1,638,512	1,551,336
Asset-backed securities
Amortized Cost
Securities not categorized by contractual maturity	3,575
Amortized Cost	3,575	3,932
Fair Value
Securities not categorized by contractual maturity	3,894
Fair Value	3,894	4,253
Mortgage-backed securities
Amortized Cost
Securities not categorized by contractual maturity	24,470
Amortized Cost	24,470	20,450
Fair Value
Securities not categorized by contractual maturity	21,007
Fair Value	21,007	$ 17,700
Collateralized mortgage obligations
Amortized Cost
Securities not categorized by contractual maturity	304,573
Fair Value
Securities not categorized by contractual maturity	264,407
Fixed maturities
Amortized Cost
Amortized Cost	1,794,325
Fair Value
Fair Value	$ 1,638,638

Summary of Investments - Net In

Summary of Investments - Net Investment Gains and Losses and Proceeds (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net investment gains (losses):
Available-for-sale	$ (19)	$ (98)	$ (445)	$ (1,397)
Allowance for credit losses	(125)	(91)	(123)	(91)
Mortgage loans allowance for credit losses	1	0	(5)	5
Other long-term investments	64	(187)	(245)	(229)
Real estate	0	(703)	47	235
Total net investment gains (losses)	(1,960)	(14,250)	(2,581)	(35,647)
Proceeds from sales			48,749	83,409
Change in the fair value
Net investment gains (losses):
Equity securities	204	(13,078)	(1,960)	(32,403)
Sales
Net investment gains (losses):
Equity securities	(2,085)	(93)	150	(1,767)
Fixed maturities
Net investment gains (losses):
Proceeds from sales	4,940	18,399	48,749	83,409
Gross realized gains	0	12	121	459
Gross realized losses	$ 19	$ 110	$ 566	$ 1,857

Summary of Investments - Narrat

Summary of Investments - Narrative (Details) $ in Thousands	1 Months Ended
	Dec. 31, 2019 USD ($) date	Sep. 30, 2023 USD ($)
Investments, Debt and Equity Securities [Abstract]
Remaining potential contractual obligation		$ 32,248
Investment in limited liability partnership investment fund	$ 25,000
Lockup period	3 years
Minimum notice period	60 days
Number of possible repurchase dates | date	4
Investment fair value		$ 25,218

Summary of Investments - Unreal

Summary of Investments - Unrealized Appreciation and Depreciation (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Change in net unrealized investment appreciation (depreciation)
Available-for-sale fixed maturities	$ (44,087)	$ (197,594)
Income tax effect	9,258	41,495
Total change in net unrealized investment appreciation (depreciation), net of tax	$ (34,829)	$ (156,099)

Summary of Investments - Rollfo

Summary of Investments - Rollforward of Allowance for Credit Losses for Available-for-Sale Fixed Maturity Securities (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Rollforward of allowance for credit losses for available-for-sale fixed maturity securities:
Beginning balance, January 1, 2023	$ 3
Additions to the allowance for credit losses for which credit losses were not previously recorded	123
Reductions for securities sold during the period (realized)	0
Write-offs charged against the allowance	0
Recoveries of amounts previously written off	0
Ending balance, September 30, 2023	$ 126

Summary of Investments - Invest

Summary of Investments - Investments in Unrealized Loss Position (Details) $ in Thousands	Sep. 30, 2023 USD ($) issue	Dec. 31, 2022 USD ($) issue
Number of Issues
Less than 12 months | issue	294	534
12 months or longer | issue	470	100
Fair Value
Less than 12 months	$ 678,865	$ 1,085,847
12 months or longer	942,364	225,276
Total	1,621,229	1,311,123
Gross Unrealized Depreciation
Less than 12 months	22,642	58,671
12 months or longer	133,570	55,252
Total	$ 156,212	$ 113,923
U.S. Treasury
Number of Issues
Less than 12 months | issue	5	4
12 months or longer | issue	6	4
Fair Value
Less than 12 months	$ 54,358	$ 6,656
12 months or longer	12,515	8,019
Total	66,873	14,675
Gross Unrealized Depreciation
Less than 12 months	390	212
12 months or longer	870	797
Total	$ 1,260	$ 1,009
U.S. government agency
Number of Issues
Less than 12 months | issue	3	24
12 months or longer | issue	25	3
Fair Value
Less than 12 months	$ 10,643	$ 70,158
12 months or longer	75,239	11,242
Total	85,882	81,400
Gross Unrealized Depreciation
Less than 12 months	336	5,606
12 months or longer	12,477	4,115
Total	$ 12,813	$ 9,721
General obligations | Midwest
Number of Issues
Less than 12 months | issue	30	16
12 months or longer | issue	3	0
Fair Value
Less than 12 months	$ 45,359	$ 29,089
12 months or longer	10,357	0
Total	55,716	29,089
Gross Unrealized Depreciation
Less than 12 months	1,360	263
12 months or longer	483	0
Total	$ 1,843	$ 263
General obligations | Northeast
Number of Issues
Less than 12 months | issue	4	4
12 months or longer | issue	1	0
Fair Value
Less than 12 months	$ 7,716	$ 8,576
12 months or longer	3,283	0
Total	10,999	8,576
Gross Unrealized Depreciation
Less than 12 months	214	73
12 months or longer	227	0
Total	$ 441	$ 73
General obligations | South
Number of Issues
Less than 12 months | issue	23	24
12 months or longer | issue	9	0
Fair Value
Less than 12 months	$ 37,383	$ 48,235
12 months or longer	15,751	0
Total	53,134	48,235
Gross Unrealized Depreciation
Less than 12 months	989	927
12 months or longer	1,212	0
Total	$ 2,201	$ 927
General obligations | West
Number of Issues
Less than 12 months | issue	26	27
12 months or longer | issue	8	0
Fair Value
Less than 12 months	$ 54,944	$ 62,652
12 months or longer	20,382	0
Total	75,326	62,652
Gross Unrealized Depreciation
Less than 12 months	1,498	711
12 months or longer	1,220	0
Total	$ 2,718	$ 711
Special revenue | Midwest
Number of Issues
Less than 12 months | issue	38	35
12 months or longer | issue	11	0
Fair Value
Less than 12 months	$ 71,273	$ 67,101
12 months or longer	22,054	0
Total	93,327	67,101
Gross Unrealized Depreciation
Less than 12 months	2,694	1,065
12 months or longer	1,633	0
Total	$ 4,327	$ 1,065
Special revenue | Northeast
Number of Issues
Less than 12 months | issue	11	14
12 months or longer | issue	8	0
Fair Value
Less than 12 months	$ 27,061	$ 37,484
12 months or longer	23,491	0
Total	50,552	37,484
Gross Unrealized Depreciation
Less than 12 months	956	1,148
12 months or longer	1,328	0
Total	$ 2,284	$ 1,148
Special revenue | South
Number of Issues
Less than 12 months | issue	42	58
12 months or longer | issue	33	1
Fair Value
Less than 12 months	$ 95,076	$ 126,388
12 months or longer	64,424	866
Total	159,500	127,254
Gross Unrealized Depreciation
Less than 12 months	3,480	3,124
12 months or longer	5,415	405
Total	$ 8,895	$ 3,529
Special revenue | West
Number of Issues
Less than 12 months | issue	39	39
12 months or longer | issue	19	0
Fair Value
Less than 12 months	$ 59,134	$ 83,622
12 months or longer	41,380	0
Total	100,514	83,622
Gross Unrealized Depreciation
Less than 12 months	2,017	1,658
12 months or longer	2,988	0
Total	$ 5,005	$ 1,658
Foreign bonds
Number of Issues
Less than 12 months | issue	0	9
12 months or longer | issue	9	5
Fair Value
Less than 12 months	$ 0	$ 21,377
12 months or longer	18,336	10,272
Total	18,336	31,649
Gross Unrealized Depreciation
Less than 12 months	0	1,861
12 months or longer	2,915	2,619
Total	$ 2,915	$ 4,480
Public utilities
Number of Issues
Less than 12 months | issue	7	45
12 months or longer | issue	49	9
Fair Value
Less than 12 months	$ 17,689	$ 101,867
12 months or longer	109,217	19,979
Total	126,906	121,846
Gross Unrealized Depreciation
Less than 12 months	621	8,737
12 months or longer	15,138	4,669
Total	$ 15,759	$ 13,406
Corporate bonds | Energy
Number of Issues
Less than 12 months | issue	4	15
12 months or longer | issue	15	1
Fair Value
Less than 12 months	$ 8,604	$ 28,612
12 months or longer	32,996	4,597
Total	41,600	33,209
Gross Unrealized Depreciation
Less than 12 months	294	1,930
12 months or longer	3,474	1,368
Total	$ 3,768	$ 3,298
Corporate bonds | Industrials
Number of Issues
Less than 12 months | issue	6	21
12 months or longer | issue	22	4
Fair Value
Less than 12 months	$ 14,842	$ 43,639
12 months or longer	47,010	7,049
Total	61,852	50,688
Gross Unrealized Depreciation
Less than 12 months	331	3,542
12 months or longer	7,374	2,012
Total	$ 7,705	$ 5,554
Corporate bonds | Consumer goods and services
Number of Issues
Less than 12 months | issue	7	28
12 months or longer | issue	28	7
Fair Value
Less than 12 months	$ 22,863	$ 69,320
12 months or longer	65,643	20,620
Total	88,506	89,940
Gross Unrealized Depreciation
Less than 12 months	976	4,440
12 months or longer	10,818	6,157
Total	$ 11,794	$ 10,597
Corporate bonds | Health care
Number of Issues
Less than 12 months | issue	3	5
12 months or longer | issue	11	6
Fair Value
Less than 12 months	$ 6,604	$ 9,829
12 months or longer	24,933	15,928
Total	31,537	25,757
Gross Unrealized Depreciation
Less than 12 months	223	487
12 months or longer	6,143	4,933
Total	$ 6,366	$ 5,420
Corporate bonds | Technology, media and telecommunications
Number of Issues
Less than 12 months | issue	5	23
12 months or longer | issue	28	5
Fair Value
Less than 12 months	$ 17,505	$ 49,970
12 months or longer	61,492	9,970
Total	78,997	59,940
Gross Unrealized Depreciation
Less than 12 months	865	3,279
12 months or longer	9,172	3,974
Total	$ 10,037	$ 7,253
Corporate bonds | Financial services
Number of Issues
Less than 12 months | issue	10	40
12 months or longer | issue	44	5
Fair Value
Less than 12 months	$ 24,655	$ 101,411
12 months or longer	108,507	11,236
Total	133,162	112,647
Gross Unrealized Depreciation
Less than 12 months	1,090	6,997
12 months or longer	11,225	2,208
Total	$ 12,315	$ 9,205
Mortgage-backed securities
Number of Issues
Less than 12 months | issue	4	38
12 months or longer | issue	48	12
Fair Value
Less than 12 months	$ 5,656	$ 7,909
12 months or longer	15,352	9,791
Total	21,008	17,700
Gross Unrealized Depreciation
Less than 12 months	195	1,056
12 months or longer	3,268	1,693
Total	$ 3,463	$ 2,749
Collateralized mortgage obligations | Government national mortgage association
Number of Issues
Less than 12 months | issue	18	14
12 months or longer | issue	40	7
Fair Value
Less than 12 months	$ 75,767	$ 24,146
12 months or longer	70,903	16,674
Total	146,670	40,820
Gross Unrealized Depreciation
Less than 12 months	1,169	1,281
12 months or longer	16,054	3,611
Total	$ 17,223	$ 4,892
Collateralized mortgage obligations | Federal home loan mortgage corporation
Number of Issues
Less than 12 months | issue	3	29
12 months or longer | issue	32	12
Fair Value
Less than 12 months	$ 7,655	$ 48,898
12 months or longer	64,194	35,650
Total	71,849	84,548
Gross Unrealized Depreciation
Less than 12 months	2,523	4,500
12 months or longer	14,193	8,791
Total	$ 16,716	$ 13,291
Collateralized mortgage obligations | Federal national mortgage association
Number of Issues
Less than 12 months | issue	6	21
12 months or longer | issue	20	19
Fair Value
Less than 12 months	$ 14,078	$ 35,456
12 months or longer	31,810	43,383
Total	45,888	78,839
Gross Unrealized Depreciation
Less than 12 months	421	5,629
12 months or longer	5,806	7,900
Total	$ 6,227	$ 13,529
Asset-backed securities
Number of Issues
Less than 12 months | issue	0	1
12 months or longer | issue	1	0
Fair Value
Less than 12 months	$ 0	$ 3,452
12 months or longer	3,095	0
Total	3,095	3,452
Gross Unrealized Depreciation
Less than 12 months	0	145
12 months or longer	137	0
Total	$ 137	$ 145

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Accrued interest excluded from carrying value	$ 173
Allowance for mortgage loan losses	55	$ 49
Rabbi Trust | Other Assets | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash surrender value	$ 11,000

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Carrying Value and Estimated Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fixed maturities:
Available-for-sale securities	$ 1,638,512	$ 1,551,336
Equity securities	51,217	169,106
Mortgage loans	45,534	37,898
Fixed maturities
Fixed maturities:
Available-for-sale securities	1,638,638
Fair Value
Fixed maturities:
Equity securities	51,217	169,106
Mortgage loans	42,280	35,302
Other long-term investments	93,836	86,276
Short-term investments	0	275
Cash and cash equivalents	69,150	96,650
Corporate-owned life insurance	11,000	10,588
Liabilities
Long Term Debt	34,456	36,168
Fair Value | Fixed maturities
Fixed maturities:
Available-for-sale securities	1,638,638	1,551,339
Carrying Value
Fixed maturities:
Equity securities	51,217	169,106
Mortgage loans	45,534	37,898
Other long-term investments	93,836	86,276
Short-term investments	0	275
Cash and cash equivalents	69,150	96,650
Corporate-owned life insurance	11,000	10,588
Liabilities
Long Term Debt	50,000	50,000
Carrying Value | Fixed maturities
Fixed maturities:
Available-for-sale securities	$ 1,638,512	$ 1,551,336

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Financial Instruments Measured at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	$ 1,638,512	$ 1,551,336
Equity securities	51,217	169,106
U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	66,873	14,675
U.S. government agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	91,898	84,406
General obligations | Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	56,881	61,113
General obligations | Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	10,999	15,463
General obligations | South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	53,134	63,981
General obligations | West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	75,326	86,545
Special revenue | Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	96,878	102,266
Special revenue | Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	50,552	54,220
Special revenue | South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	159,500	180,857
Special revenue | West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	100,516	112,212
Foreign bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	18,336	31,649
Public utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	127,417	125,411
Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	21,007	17,700
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	3,894	4,253
Government national mortgage association | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	146,670	84,548
Federal home loan mortgage corporation | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	71,849	78,838
Federal national mortgage association | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	45,887	45,386
Energy | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	41,600	33,209
Industrials | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	65,968	52,842
Consumer goods and services | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	88,506	89,941
Health care | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	31,537	27,592
Technology, media and telecommunications | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	80,248	59,940
Financial services | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	133,036	124,289
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	1,638,638	1,551,339
Equity securities	51,217	169,106
Short-Term Investments	0	275
Money Market Accounts	13,977	31,289
Corporate-Owned Life Insurance	11,000	10,588
Total Assets Measured at Fair Value	1,714,832	1,762,597
Recurring | U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	66,873	14,675
Recurring | U.S. government agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	91,898	84,406
Recurring | General obligations | Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	56,881	61,113
Recurring | General obligations | Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	10,999	15,463
Recurring | General obligations | South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	53,134	63,981
Recurring | General obligations | West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	75,326	86,545
Recurring | Special revenue | Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	96,878	102,266
Recurring | Special revenue | Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	50,552	54,220
Recurring | Special revenue | South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	159,500	180,857
Recurring | Special revenue | West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	100,516	112,212
Recurring | Foreign bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	18,336	31,649
Recurring | Public utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	127,417	125,411
Recurring | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	21,007	17,700
Recurring | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	3,894	4,253
Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Equity securities	51,217	169,106
Short-Term Investments	0	275
Money Market Accounts	13,977	31,289
Corporate-Owned Life Insurance	0	0
Total Assets Measured at Fair Value	65,194	200,670
Recurring | Level 1 | U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 1 | U.S. government agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 1 | General obligations | Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 1 | General obligations | Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 1 | General obligations | South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 1 | General obligations | West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 1 | Special revenue | Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 1 | Special revenue | Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 1 | Special revenue | South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 1 | Special revenue | West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 1 | Foreign bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 1 | Public utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 1 | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 1 | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	1,633,139	1,544,863
Equity securities	0	0
Short-Term Investments	0	0
Money Market Accounts	0	0
Corporate-Owned Life Insurance	11,000	10,588
Total Assets Measured at Fair Value	1,644,139	1,555,451
Recurring | Level 2 | U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	66,873	14,675
Recurring | Level 2 | U.S. government agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	91,898	84,406
Recurring | Level 2 | General obligations | Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	56,881	61,113
Recurring | Level 2 | General obligations | Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	10,999	15,463
Recurring | Level 2 | General obligations | South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	53,134	63,981
Recurring | Level 2 | General obligations | West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	75,326	86,545
Recurring | Level 2 | Special revenue | Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	96,878	102,266
Recurring | Level 2 | Special revenue | Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	50,552	54,220
Recurring | Level 2 | Special revenue | South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	159,500	180,857
Recurring | Level 2 | Special revenue | West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	100,516	112,212
Recurring | Level 2 | Foreign bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	18,336	31,649
Recurring | Level 2 | Public utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	127,417	125,411
Recurring | Level 2 | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	21,007	17,700
Recurring | Level 2 | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	3,095	3,452
Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	5,499	6,476
Equity securities	0	0
Short-Term Investments	0	0
Money Market Accounts	0	0
Corporate-Owned Life Insurance	0	0
Total Assets Measured at Fair Value	5,499	6,476
Recurring | Level 3 | U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 3 | U.S. government agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 3 | General obligations | Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 3 | General obligations | Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 3 | General obligations | South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 3 | General obligations | West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 3 | Special revenue | Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 3 | Special revenue | Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 3 | Special revenue | South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 3 | Special revenue | West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 3 | Foreign bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 3 | Public utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	4,700
Recurring | Level 3 | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 3 | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	799	801
Recurring | Government national mortgage association | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	146,670	84,548
Recurring | Government national mortgage association | Level 1 | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Government national mortgage association | Level 2 | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	146,670	84,548
Recurring | Government national mortgage association | Level 3 | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Federal home loan mortgage corporation | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	71,849	78,838
Recurring | Federal home loan mortgage corporation | Level 1 | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Federal home loan mortgage corporation | Level 2 | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	71,849	78,838
Recurring | Federal home loan mortgage corporation | Level 3 | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Federal national mortgage association | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	45,887	45,386
Recurring | Federal national mortgage association | Level 1 | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Federal national mortgage association | Level 2 | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	45,887	45,386
Recurring | Federal national mortgage association | Level 3 | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Public utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	3,703	14,846
Recurring | Public utilities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	3,703	14,846
Recurring | Public utilities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Public utilities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Energy
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	9,536	19,743
Recurring | Energy | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	41,600	33,209
Recurring | Energy | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	9,536	19,743
Recurring | Energy | Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Energy | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Energy | Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	41,600	33,209
Recurring | Energy | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Energy | Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Industrials
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	13,023	27,163
Recurring | Industrials | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	65,968	52,842
Recurring | Industrials | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	13,023	27,163
Recurring | Industrials | Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Industrials | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Industrials | Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	65,968	52,842
Recurring | Industrials | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Industrials | Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Consumer goods and services
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	11,127	43,139
Recurring | Consumer goods and services | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	88,506	89,941
Recurring | Consumer goods and services | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	11,127	43,139
Recurring | Consumer goods and services | Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Consumer goods and services | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Consumer goods and services | Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	88,506	89,941
Recurring | Consumer goods and services | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Consumer goods and services | Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Health care
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	1,959	7,981
Recurring | Health care | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	31,537	27,592
Recurring | Health care | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	1,959	7,981
Recurring | Health care | Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Health care | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Health care | Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	31,537	27,592
Recurring | Health care | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Health care | Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Technology, media and telecommunications
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	5,612	28,213
Recurring | Technology, media and telecommunications | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	80,248	59,940
Recurring | Technology, media and telecommunications | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	5,612	28,213
Recurring | Technology, media and telecommunications | Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Technology, media and telecommunications | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Technology, media and telecommunications | Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	80,248	59,940
Recurring | Technology, media and telecommunications | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Technology, media and telecommunications | Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Financial services
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	6,257	28,021
Recurring | Financial services | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	133,162	124,292
Recurring | Financial services | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	6,257	28,021
Recurring | Financial services | Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Financial services | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Financial services | Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	128,462	118,617
Recurring | Financial services | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Financial services | Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	$ 4,700	$ 5,675

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Quantitative Information About Level 3 Fair Value Measurements (Details) $ in Thousands	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities	$ 1,638,512	$ 1,551,336
Asset-backed securities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities	3,894	4,253
Recurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities	1,638,638	1,551,339
Recurring | Asset-backed securities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities	3,894	4,253
Recurring | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities	5,499	6,476
Recurring | Level 3 | Corporate bonds
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities	$ 4,700
Recurring | Level 3 | Corporate bonds | Third-party Valuation | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities, range of weighted average significant unobservable inputs	0.900
Recurring | Level 3 | Corporate bonds | Third-party Valuation | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities, range of weighted average significant unobservable inputs	1
Recurring | Level 3 | Asset-backed securities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities	$ 799	$ 801
Recurring | Level 3 | Asset-backed securities | Discounted cash flow | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities, range of weighted average significant unobservable inputs	0.04
Recurring | Level 3 | Asset-backed securities | Discounted cash flow | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities, range of weighted average significant unobservable inputs	0.06

Fair Value of Financial Instr_7

Fair Value of Financial Instruments - Level 3 Securities (Details) - Recurring - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 5,602	$ 6,476
Net unrealized gains (losses)	(103)	(977)
Ending Balance	5,499	5,499
Corporate bonds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	4,765	5,675
Net unrealized gains (losses)	(65)	(975)
Ending Balance	4,700	4,700
Asset-backed securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	837	801
Net unrealized gains (losses)	(38)	(2)
Ending Balance	$ 799	$ 799

Fair Value of Financial Instr_8

Fair Value of Financial Instruments - Carrying Value of Commercial Mortgage Loans and Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Total amortized cost		$ 45,589	$ 37,947
Allowance for mortgage loan losses		(55)	(49)
Mortgage loans, net		45,534	37,898
Total mortgage loans | Mortgage Loans by Region
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net		$ 45,589	$ 37,947
Percent of Total		100%	100%
Total mortgage loans | Mortgage Loans by Region | East North Central
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net		$ 3,245	$ 3,245
Percent of Total		7.10%	8.60%
Total mortgage loans | Mortgage Loans by Region | Southern Atlantic
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net		$ 17,265	$ 9,397
Percent of Total		37.80%	24.70%
Total mortgage loans | Mortgage Loans by Region | East South Central
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net		$ 7,591	$ 7,783
Percent of Total		16.70%	20.50%
Total mortgage loans | Mortgage Loans by Region | New England
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net		$ 6,588	$ 6,588
Percent of Total		14.50%	17.40%
Total mortgage loans | Mortgage Loans by Region | Middle Atlantic
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net		$ 6,020	$ 6,139
Percent of Total		13.20%	16.20%
Total mortgage loans | Mortgage Loans by Region | Mountain
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net		$ 1,992	$ 1,992
Percent of Total		4.40%	5.20%
Total mortgage loans | Mortgage Loans by Region | West North Central
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net		$ 2,888	$ 2,803
Percent of Total		6.30%	7.40%
Total mortgage loans | Mortgage Loans by Property Type
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net		$ 45,589	$ 37,947
Percent of Total	100%	100%
Total mortgage loans | Mortgage Loans by Property Type | Multifamily
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net		$ 8,536	8,493
Percent of Total	22.40%	18.70%
Total mortgage loans | Mortgage Loans by Property Type | Office
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net		$ 11,030	11,267
Percent of Total	29.70%	24.30%
Total mortgage loans | Mortgage Loans by Property Type | Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net		$ 10,003	10,056
Percent of Total	26.50%	21.90%
Total mortgage loans | Mortgage Loans by Property Type | Retail
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net		$ 10,000	1,992
Percent of Total	5.20%	21.90%
Total mortgage loans | Mortgage Loans by Property Type | Mixed use/Other
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net		$ 6,020	6,139
Percent of Total	16.20%	13.20%
Less than 65%
Financing Receivable, Credit Quality Indicator [Line Items]
Total amortized cost		$ 36,883	29,231
65%-75%
Financing Receivable, Credit Quality Indicator [Line Items]
Total amortized cost		$ 8,706	$ 8,716

Fair Value of Financial Instr_9

Fair Value of Financial Instruments - Amortized Cost Basis by Year of Origination and Credit Quality Indicator (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
2023	$ 8,136
2022	100
2020	5,292
2019	7,897
2018	24,164
Total	45,589	$ 37,947
Current-period write-offs	0
Current-period recoveries	0
Current-period net write-offs	0
1-2 internal grade
Financing Receivable, Credit Quality Indicator [Line Items]
2023	8,136
2022	100
2020	5,292
2019	7,897
2018	17,576
Total	39,001
3-4 internal grade
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	0
2020	0
2019	0
2018	6,588
Total	6,588
5 internal grade
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	0
2020	0
2019	0
2018	0
Total	0
6 internal grade
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	0
2020	0
2019	0
2018	0
Total	0
7 internal grade
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	0
2020	0
2019	0
2018	0
Total	$ 0

Fair Value of Financial Inst_10

Fair Value of Financial Instruments - Rollforward of Allowance for Mortgage Loan Losses (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Rollforward of allowance for mortgage loan losses:
Beginning balance, January 1, 2023	$ 49
Current-period provision for expected credit losses	6
Ending balance of the allowance for mortgage loan losses, September 30, 2023	$ 55

Reserves for Losses and Loss _3

Reserves for Losses and Loss Settlement Expenses (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Gross liability for losses and loss settlement expenses at beginning of year	$ 1,497,274	$ 1,514,265
Ceded losses and loss settlement expenses	(146,875)	(112,900)
Net liability for losses and loss settlement expenses at beginning of year	1,350,399	1,401,365
Losses and loss settlement expenses incurred for claims occurring during
Current year	538,941	624,411
Prior years	59,184	12,890
Total incurred	598,125	637,301
Losses and loss settlement expense payments for claims occurring during
Current year	131,408	215,891
Prior years	371,723	472,377
Total paid	503,131	688,268
Net liability for losses and loss settlement expenses at end of period	1,445,394	1,350,399
Ceded losses and loss settlement expenses	191,525	146,875
Gross liability for losses and loss settlement expenses at end of period	$ 1,636,918	$ 1,497,274

Employee Benefits (Details)

Employee Benefits (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Pension Plan
Net periodic benefit cost
Service cost	$ 954,000	$ 1,120,000	$ 2,863,000	$ 3,361,000
Interest cost	2,526,000	1,933,000	7,579,000	5,798,000
Expected return on plan assets	(3,756,000)	(4,723,000)	(11,269,000)	(14,168,000)
Amortization of prior service credit	(820,000)	(820,000)	(2,460,000)	(2,460,000)
Amortization of net loss	52,000	194,000	155,000	583,000
Net periodic benefit cost	(1,044,000)	(2,296,000)	(3,131,000)	(6,887,000)
Postretirement Benefit Plan
Net periodic benefit cost
Service cost	0	0	0	0
Interest cost	0	1,000	0	2,000
Expected return on plan assets	0	0	0	0
Amortization of prior service credit	0	(3,771,000)	0	(11,314,000)
Amortization of net loss	0	706,000	0	2,118,000
Net periodic benefit cost	$ 0	$ (3,064,000)	$ 0	$ (9,194,000)
Benefit obligation					$ 0

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended		9 Months Ended		177 Months Ended
	May 31, 2021	May 31, 2014	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Dec. 31, 2022	May 20, 2020	May 19, 2020	Dec. 31, 2008
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$ 949	$ 828	$ 3,124	$ 2,590
Stock-based compensation expense to be recognized through results of operations			$ 6,542		$ 6,542		$ 6,542
Employee Stock Award Plan-2008
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for issuance (in shares)			1,108,419		1,108,419		1,108,419	1,342,119			1,900,000
Additional shares authorized (in shares)	650,000	1,500,000			0		2,150,000
Employee Stock Award Plan-2008 | Options Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period					10 years
Employee Stock Award Plan-2008 | Three years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage					20%
Employee Stock Award Plan-2008 | Three years | Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					3 years
Employee Stock Award Plan-2008 | Five years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage					33.30%
Employee Stock Award Plan-2008 | Five years | Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					5 years
Director Plan - 2005
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for issuance (in shares)			103,600		103,600		103,600	123,397	450,000	300,000	300,000
Additional shares authorized (in shares)					0		150,000

Stock-Based Compensation - Acti

Stock-Based Compensation - Activity in the Stock Plan (Details) - shares	1 Months Ended		9 Months Ended	177 Months Ended
	May 31, 2021	May 31, 2014	Sep. 30, 2023	Sep. 30, 2023
Employee Stock Award Plan-2008
Share-based Compensation Arrangement by Share-based Payment Award Available for Grant [Roll Forward]
Beginning balance (in shares)			1,342,119	1,900,000
Additional shares authorized (in shares)	650,000	1,500,000	0	2,150,000
Number of awards granted (in shares)			(305,241)	(3,927,382)
Number of awards forfeited or expired (in shares)			71,541	985,801
Ending balance (in shares)			1,108,419	1,108,419
Employee Stock Award Plan-2008 | Options Awards
Share-based Compensation Arrangement by Share-based Payment Award Available for Grant [Roll Forward]
Number of option awards exercised (in shares)			4,000	1,537,336
Employee Stock Award Plan-2008 | Unrestricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award Available for Grant [Roll Forward]
Number of awards granted (in shares)			0	(10,090)
Employee Stock Award Plan-2008 | Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award Available for Grant [Roll Forward]
Number of restricted stock awards vested (in shares)			28,100	295,945
Director Plan - 2005
Share-based Compensation Arrangement by Share-based Payment Award Available for Grant [Roll Forward]
Beginning balance (in shares)			123,397	300,000
Additional shares authorized (in shares)			0	150,000
Number of awards granted (in shares)			(31,380)	(386,618)
Number of awards forfeited or expired (in shares)			11,583	40,218
Ending balance (in shares)			103,600	103,600
Director Plan - 2005 | Options Awards
Share-based Compensation Arrangement by Share-based Payment Award Available for Grant [Roll Forward]
Number of option awards exercised (in shares)			1,755	152,336
Director Plan - 2005 | Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award Available for Grant [Roll Forward]
Number of restricted stock awards vested (in shares)			0	117,001

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-based Compensation Expense (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Share-Based Payment Arrangement [Abstract]
2023	$ 1,034
2024	3,364
2025	1,878
2026	266
2027	0
Total	$ 6,542

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Basic and Diluted Earnings per Share [Line Items]
Net income (loss)	$ 6,380	$ (22,981)	$ (49,308)	$ (5,089)
Weighted-average common shares outstanding, basic (in shares)	25,263,523	25,188,958	25,244,502	25,146,318
Weighted-average common shares outstanding, diluted (in shares)	25,579,334	25,188,958	25,244,502	25,146,318
Earnings (loss) per common share, basic (in dollars per share)	$ 0.25	$ (0.91)	$ (1.95)	$ (0.20)
Earnings (loss) per common share, diluted (in dollars per share)	$ 0.25	$ (0.91)	$ (1.95)	$ (0.20)
Awards excluded from diluted earnings per share calculation (in shares)	837,482	392,062	814,636	479,981
Restricted Stock Unit Awards
Basic and Diluted Earnings per Share [Line Items]
Add dilutive effect of share-based awards outstanding (in shares)	295,997	0	0	0
Stock Options
Basic and Diluted Earnings per Share [Line Items]
Add dilutive effect of share-based awards outstanding (in shares)	19,814	0	0	0

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 15, 2023	Dec. 15, 2020	Mar. 31, 2020
Line of Credit Facility [Line Items]
Interest paid	$ 797,000	$ 797,000	$ 2,391,000	$ 2,391,000
New Credit Agreement
Line of Credit Facility [Line Items]
Option to increase, maximum amount							$ 100,000,000
Outstanding balance on credit facility	$ 0	$ 0	0	0
New Credit Agreement | Revolving Credit Facility
Line of Credit Facility [Line Items]
Interest paid			$ 0	$ 0
Maximum borrowing capacity							50,000,000
New Credit Agreement | Letter of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity							20,000,000
New Credit Agreement | Swing Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity							$ 5,000,000
Surplus Notes
Line of Credit Facility [Line Items]
Principal amount						$ 50,000,000
Surplus Notes | Forecast
Line of Credit Facility [Line Items]
Applicable Interest Rate					6.875%
Surplus Notes | Federated Mutual
Line of Credit Facility [Line Items]
Principal amount						35,000,000
Surplus Notes | Federated Life
Line of Credit Facility [Line Items]
Principal amount						$ 15,000,000

Debt - Interest Payable (Detail

Debt - Interest Payable (Details) - Surplus Notes	Sep. 30, 2023
A+
Financing Receivable, Credit Quality Indicator [Line Items]
Applicable Interest Rate	5.875%
A
Financing Receivable, Credit Quality Indicator [Line Items]
Applicable Interest Rate	6.375%
A-
Financing Receivable, Credit Quality Indicator [Line Items]
Applicable Interest Rate	6.875%
B++ (or lower)
Financing Receivable, Credit Quality Indicator [Line Items]
Applicable Interest Rate	7.375%

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 676,365	$ 780,903	$ 740,114	$ 879,121
Change in accumulated other comprehensive income (loss) before reclassifications	(34,812)	(55,305)	(37,380)	(168,148)
Reclassification adjustments from accumulated other comprehensive income (loss)	102	1,563	731	3,301
Ending balance	644,937	700,795	644,937	700,795
Net unrealized appreciation on investments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(89,094)		(88,369)
Change in accumulated other comprehensive income (loss) before reclassifications	(34,166)		(35,438)
Reclassification adjustments from accumulated other comprehensive income (loss)	62		609
Ending balance	(123,198)		(123,198)
Liability for underfunded employee benefit costs
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(341)		873
Change in accumulated other comprehensive income (loss) before reclassifications	(646)		(1,942)
Reclassification adjustments from accumulated other comprehensive income (loss)	40		122
Ending balance	(947)		(947)
Total
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(89,435)	(56,768)	(87,496)	54,337
Ending balance	$ (124,145)	$ (110,510)	$ (124,145)	$ (110,510)

Leases - Narrative (Details)

Leases - Narrative (Details)	Sep. 30, 2023
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms	1 year
Lease extension option terms	6 months
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	5 years
Lease extension option terms	5 years

Leases - Components of Operatin

Leases - Components of Operating Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Components of lease expense:
Operating lease expense	$ 2,255	$ 2,201	$ 6,653	$ 6,569
Less sublease income	305	53	732	160
Net lease expense	1,950	2,148	5,921	6,409
Cash flows information related to leases:
Operating cash outflow from operating leases	$ 1,952	$ 2,170	$ 5,996	$ 6,471