AMERISAFE (AMSF) 10-K 23 Feb 24 2023 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Feb. 15, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Trading Symbol	AMSF
Entity Registrant Name	AMERISAFE, INC.
Entity Central Index Key	0001018979
Entity Current Reporting Status	Yes
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Annual Report	true
Document Transition Report	false
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity File Number	001-12251
Entity Tax Identification Number	75-2069407
Entity Address, Address Line One	2301 Highway 190 West
Entity Address, City or Town	DeRidder
Entity Address, State or Province	LA
Entity Address, Postal Zip Code	70634
City Area Code	337
Local Phone Number	463-9052
Entity Common Stock, Shares Outstanding		19,135,008
Entity Public Float			$ 1,009
Entity Incorporation, State or Country Code	TX
Title of 12(b) Security	Common stock, par value $0.01 per share
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Auditor Name	Ernst & Young LLP
Auditor Location	New Orleans, LA
Auditor Firm ID	42
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the Registrant’s Proxy Statement relating to the 2024 Annual Meeting of Shareholders are incorporated by reference in Items 10, 11, 12, 13 and 14 of Part III of this report.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Investments:
Fixed maturity securities-held-to-maturity, at amortized cost net of allowance for credit losses of $182 and $239 in 2023 and 2022, respectively, (fair value $473,092 and $468,144 in 2023 and 2022, respectively)	$ 483,575	$ 491,688
Fixed maturity securities-available-for-sale, at fair value (amortized cost $24,309 and $19,824 in 2023 and 2022, respectively)	317,064	321,121
Equity securities, at fair value (cost $7,108 and $10,007 in 2023 and 2022, respectively)	57,147	62,058
Short-term investments		14,120
Total investments	857,786	888,987
Cash and cash equivalents	38,682	61,469
Amounts recoverable from reinsurers (net of allowance for credit losses of $360 and $372 in 2023 and 2022, respectively)	129,963	125,677
Premiums receivable (net of allowance for credit losses of $4,674 and $4,852 in 2023 and 2022, respectively)	132,861	121,713
Deferred income taxes	20,403	22,794
Accrued interest receivable	8,274	8,428
Property and equipment, net	6,349	7,225
Deferred policy acquisition costs	17,975	17,401
Federal income tax recoverable	1,781	1,453
Other assets	15,088	14,132
Total assets	1,229,162	1,269,279
Liabilities:
Reserves for loss and loss adjustment expenses	673,994	696,037
Unearned premiums	116,585	114,976
Amounts held for others	53,694	48,811
Policyholder deposits	34,522	36,312
Insurance-related assessments	16,896	17,653
Accounts payable and other liabilities	41,020	38,058
Total liabilities	936,711	951,847
Shareholders’ equity:
Common stock: voting-$0.01 par value authorized shares-50,000,000 in 2023 and 2022; 20,704,448 and 20,678,572 shares issued; and 19,135,008 and 19,155,873 shares outstanding in 2023 and 2022, respectively	207	207
Additional paid-in capital	222,078	220,299
Treasury stock, at cost (1,569,440 and 1,522,699 shares in 2023 and 2022, respectively)	(36,929)	(34,758)
Accumulated earnings	114,289	145,512
Accumulated other comprehensive loss, net	(7,194)	(13,828)
Total shareholders’ equity	292,451	317,432
Total liabilities and shareholders’ equity	$ 1,229,162	$ 1,269,279

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Fixed maturity securities, held-to-maturity, allowance for credit losses	$ 182,000	$ 239,000
Fixed maturity securities, fair value	473,092,000	468,144,000
Fixed maturity securities, available-for-sale, allowance for credit losses	0	0
Fixed maturity securities, amortized cost	326,171,000	338,593,000
Equity securities, cost	44,046,000	50,185,000
Amounts recoverable from reinsurers, allowance for credit losses	360,000	372,000
Premiums receivable, allowance for credit losses	$ 4,674,000	$ 4,852,000	$ 4,386,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	20,704,448	20,678,572
Common stock, shares outstanding	19,135,008	19,155,873
Treasury stock, shares	1,569,440	1,522,699

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues
Net premiums earned	$ 267,125	$ 271,698	$ 275,993
Net investment income	31,339	27,223	25,435
Net realized gains on investments	6,579	3,440	1,695
Net unrealized gains (losses) on equity securities	1,228	(8,092)	12,315
Fee and other income	582	468	496
Total revenues	306,853	294,737	315,934
Expenses
Loss and loss adjustment expenses incurred	148,263	152,316	160,798
Underwriting and certain other operating costs	27,508	24,039	24,813
Commissions	23,446	21,483	21,284
Salaries and benefits	27,359	26,510	25,954
Policyholder dividends	2,957	2,699	3,715
Provision for investment related credit loss expense (benefit)	(57)	44	(79)
Total expenses	229,476	227,091	236,485
Income before income taxes	77,377	67,646	79,449
Income tax expense	15,269	12,044	13,693
Net income	$ 62,108	$ 55,602	$ 65,756
Earnings per share
Basic	$ 3.24	$ 2.89	$ 3.40
Diluted	$ 3.23	$ 2.88	$ 3.39
Shares used in computing earnings per share
Basic	19,149,080	19,233,241	19,332,391
Diluted	19,226,021	19,321,717	19,408,619
Extraordinary cash dividends declared per common share	$ 3.50	$ 4	$ 4
Cash dividends declared per common share	$ 1.36	$ 1.24	$ 1.16

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ 62,108	$ 55,602	$ 65,756
Other comprehensive income:
Unrealized gain (loss) on debt securities, net of tax	6,634	(27,365)	(7,482)
Comprehensive income	$ 68,742	$ 28,237	$ 58,274

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Treasury Stock [Member]	Accumulated Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Beginning Balance at Dec. 31, 2020	$ 438,816	$ 206	$ 215,316	$ (22,370)	$ 224,645	$ 21,019
Beginning Balance, Shares at Dec. 31, 2020		20,589,309		(1,258,250)
Comprehensive income:
Net Income (Loss)	65,756				65,756
Other comprehensive income:
Change in unrealized gains (losses), net of tax	(7,482)					(7,482)
Comprehensive income	58,274
Common stock issued	1,563		1,563
Common stock issued, Shares		32,995
Share-based compensation	579		579
Dividends to shareholders	(99,909)				(99,909)
Ending Balance at Dec. 31, 2021	399,323	$ 206	217,458	$ (22,370)	190,492	13,537
Ending Balance, Shares at Dec. 31, 2021		20,622,304		(1,258,250)
Comprehensive income:
Net Income (Loss)	55,602				55,602
Other comprehensive income:
Change in unrealized gains (losses), net of tax	(27,365)					(27,365)
Comprehensive income	28,237
Common stock issued	1,971	$ 1	1,970
Common stock issued, Shares		56,268
Purchase of treasury stock	(12,388)			$ (12,388)
Purchase of treasury stock, Shares				(264,449)
Share-based compensation	871		871
Dividends to shareholders	(100,582)				(100,582)
Ending Balance at Dec. 31, 2022	$ 317,432	$ 207	220,299	$ (34,758)	145,512	(13,828)
Ending Balance, Shares at Dec. 31, 2022	19,155,873	20,678,572		(1,522,699)
Comprehensive income:
Net Income (Loss)	$ 62,108				62,108
Other comprehensive income:
Change in unrealized gains (losses), net of tax	6,634					6,634
Comprehensive income	68,742
Common stock issued	779		779
Common stock issued, Shares		25,876
Purchase of treasury stock	(2,171)			$ 2,171
Purchase of treasury stock, Shares				46,741
Share-based compensation	1,000		1,000
Dividends to shareholders	(93,331)				(93,331)
Ending Balance at Dec. 31, 2023	$ 292,451	$ 207	$ 222,078	$ (36,929)	$ 114,289	$ (7,194)
Ending Balance, Shares at Dec. 31, 2023	19,135,008	20,704,448		(1,569,440)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating activities
Net income	$ 62,108	$ 55,602	$ 65,756
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	1,427	1,309	1,017
Net amortization of investments	3,025	6,734	8,868
Change in investment related allowance for credit losses	(57)	44	(79)
Deferred income taxes	628	(1,136)	1,270
Net realized gains on investments	(6,579)	(3,440)	(1,695)
Net unrealized (gains) losses on equity securities	(1,228)	8,092	(12,315)
Net realized (gains) losses on disposal of assets	2	9	(21)
Share-based compensation	1,557	2,479	2,320
Changes in operating assets and liabilities:
Premiums receivable, net	(8,485)	13,387	21,660
Accrued interest receivable	154	(348)	1,194
Deferred policy acquisition costs	(574)	(342)	751
Amounts held by others			71
Other assets	(1,033)	(2,840)	(1,016)
Reserves for loss and loss adjustment expenses	(22,043)	(49,241)	(15,283)
Unearned premiums	1,609	(6,116)	(8,168)
Reinsurance balances	(3,740)	(4,754)	(14,648)
Amounts held for others and policyholder deposits	3,093	2,825	(2,628)
Federal income taxes recoverable	(328)	4,961	(6,831)
Accounts payable and other liabilities	306	969	(2,244)
Net cash provided by operating activities	29,842	28,194	37,979
Investing activities
Purchases of investments held-to-maturity	(42,190)	(32,152)	(43,307)
Purchases of investments available-for-sale	(45,141)	(106,049)	(51,617)
Purchases of equity securities		(11,147)	(8,388)
Purchases of short-term investments	(46,347)	(66,132)	(167,870)
Proceeds from maturities of investments held-to-maturity	47,151	85,006	74,253
Proceeds from sales and maturities of investments available-for-sale	57,153	90,675	114,974
Proceeds from sales of equity securities	12,688	8,487
Proceeds from sales and maturities of short-term investments	61,123	108,827	154,187
Purchases of property and equipment	(553)	(2,089)	(1,296)
Proceeds from sales of property and equipment			23
Net cash provided by investing activities	43,884	75,426	70,959
Financing activities
Finance lease purchases	(91)	(58)	(44)
Share-based compensation related tax withholding	(944)
Purchase of treasury stock	(2,171)	(12,388)
Dividends to shareholders	(93,307)	(100,427)	(99,929)
Net cash used in financing activities	(96,513)	(112,873)	(99,973)
Change in cash and cash equivalents	(22,787)	(9,253)	8,965
Cash and cash equivalents at beginning of year	61,469	70,722	61,757
Cash and cash equivalents at end of year	38,682	61,469	70,722
Supplemental disclosure of cash flow information
Income taxes paid	$ 13,950	$ 7,791	$ 18,198

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ 62,108	$ 55,602	$ 65,756

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 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

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	1. Summary of Significant Accounting Policies Organization AMERISAFE, Inc. is an insurance holding company incorporated in the state of Texas. The accompanying consolidated financial statements include the accounts of AMERISAFE and its subsidiaries: American Interstate Insurance Company (AIIC) and its insurance subsidiaries, Silver Oak Casualty, Inc. (SOCI) and American Interstate Insurance Company of Texas (AIICTX), Amerisafe Risk Services, Inc. (RISK) and Amerisafe General Agency, Inc. (AGAI). AIIC and SOCI are property and casualty insurance companies organized under the laws of the state of Nebraska. AIICTX is a property and casualty insurance company organized under the laws of the state of Texas. RISK, a wholly owned subsidiary of the Company, is a claims and safety service company currently servicing only affiliated insurance companies. AGAI, a wholly owned subsidiary of the Company, is a general agent for the Company. AGAI sells insurance, which is underwritten by AIIC, SOCI and AIICTX, as well as by nonaffiliated insurance carriers. The terms “AMERISAFE,” the “Company,” “we,” “us” or “our” refer to AMERISAFE, Inc. and its consolidated subsidiaries, as the context requires. The Company provides workers’ compensation insurance for small to mid-sized employers engaged in hazardous industries, principally construction, trucking, logging and lumber, agriculture, manufacturing, telecommunications, and maritime. Assets and revenues of AIIC and its subsidiaries represent at least 95 % of comparable consolidated amounts of the Company for each of 2023, 2022 and 2021 . Basis of Presentation The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP). The preparation of financial statements in accordance 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. Adopted Accounting Guidance The Company has not adopted any new accounting guidance in 2023. Prospective Accounting Guidance All other issued but not yet effective accounting and reporting standards as of December 31, 2023 are either not applicable to the Company or are not expected to have a material impact on the Company. Investments The Company has the ability and positive intent to hold certain investments until maturity. Therefore, fixed maturity securities classified as held-to-maturity are recorded at amortized cost net of the allowance for credit losses. Fixed maturity securities classified as available-for-sale are recorded at fair value. Temporary changes in the fair value of these securities are reported in shareholders’ equity as a component of other comprehensive income, net of deferred income taxes. Changes in the fair value of equity securities are recorded in net income. Investment income is recognized as it is earned. The discount or premium on fixed maturity securities is amortized using the “constant yield” method. Anticipated prepayments, where applicable, are considered when determining the amortization of premiums or discounts. Realized investment gains and losses are determined using the specific identification method. Cash and Cash Equivalents Cash equivalents include short-term money market funds with a maturity date, at the time of purchase , of 90 days or less. Short-Term Investments Short-term investments include municipal securities and corporate bonds with an original maturity date greater than 90 days but less than one year . Premiums Receivable Premiums receivable consist primarily of premium-related balances due from policyholders. The Company considers premiums receivable as past due based on the payment terms of the underlying policy. The balance is shown net of the allowance for credit losses. Receivables due from insureds are charged off when a determination has been made by management that a specific balance will not be collected. An estimate of amounts that are likely to be charged off is established as an allowance for credit losses as of the balance sheet date. The estimate is primarily comprised of specific balances that are considered probable to be charged off after all collection efforts have ceased, as well as historical trends and an analysis of the aging of the receivables. Property and Equipment The Company’s property and equipment, including certain costs incurred to develop or obtain software for internal use, are stated at cost less accumulated depreciation. Depreciation is calculated primarily by the straight-line method over the estimated useful lives of the respective assets, generally 39 years for buildings and three to seven years for all other fixed assets. Deferred Policy Acquisition Costs The direct costs of successfully acquiring and renewing business are capitalized to the extent recoverable and are amortized over the effective period of the related insurance policies in proportion to premium revenue earned. These capitalized costs consist mainly of sales commissions, premium taxes and other underwriting costs. The Company evaluates deferred policy acquisition costs for recoverability by comparing the unearned premiums to the estimated total expected claim costs and related expenses, offset by anticipated investment income. The Company would reduce the deferred costs if the unearned premiums were less than expected claims and expenses after considering investment income, and report any adjustments in amortization of deferred policy acquisition costs. There were no adjustments necessary in 2023, 2022 or 2021 . Reserves for Loss and Loss Adjustment Expenses Reserves for loss and loss adjustment expenses represent the estimated ultimate cost of all reported and unreported losses incurred through December 31. The Company does not discount loss and loss adjustment expense reserves. In establishing our reserves for loss and loss adjustment expenses, we review the results of analyses using individual case-base valuations and statistical and actuarial methods that utilize historical loss data from our more than 38 years of underwriting workers’ compensation insurance. The actuarial analysis of our historical data provides the factors we use in estimating our loss reserves. These factors are primarily measures over time of the number of claims paid and reported, average paid and incurred claim amounts, claim closure rates and claim payment patterns. In evaluating the results of our analyses, management also uses substantial judgment in considering other factors that are not considered in these actuarial analyses, including changes in business mix, claims management, regulatory issues, medical trends, employment and wage patterns, insurance policy coverage interpretations, judicial determinations and other subjective factors. Due to the inherent uncertainty associated with these estimates, and the cost of incurred but unreported claims, our actual liabilities may vary significantly from our original estimates. Although considerable variability is inherent in these estimates, management believes that the reserves for loss and loss adjustment expenses are adequate. The estimates are continually reviewed and adjusted as necessary as experience develops or new information becomes known. Any such adjustments are included in income from current operations. Subrogation recoverables, as well as deductible recoverables from policyholders, are estimated using individual case-basis valuations and aggregate estimates. Deductibles that are recoverable from policyholders and other recoverables from state funds decrease the liability for loss and loss adjustment expenses. The Company funds its obligations under certain settled claims where the payment pattern and ultimate cost are fixed and determinable on an individual claim basis through the purchase of annuities. These annuities are purchased from unaffiliated carriers and name the claimant as payee. The cost of purchasing the annuity is recorded as paid loss and loss adjustment expenses. To the extent the annuity funds estimated future claims, reserves for loss and loss adjustment expense are reduced. Premium Revenue Premiums on workers’ compensation insurance are based on actual payroll costs or production during the policy term and are normally billed monthly in arrears or annually. However, the Company generally requires a deposit at the inception of a policy. Premium revenue is earned on a pro rata basis over periods covered by the policies. The reserve for unearned premiums on these policies is computed on a daily pro rata basis. The Company estimates the annual premiums to be paid by its policyholders when the Company issues the policies and records those amounts on the balance sheet as premiums receivable. The Company conducts premium audits on all of its voluntary business policyholders annually, upon the expiration of each policy, including when the policy is renewed. The purpose of these audits is to verify that policyholders have accurately reported their payroll expenses and employee job classifications, and therefore have paid the Company the premium required under the terms of the policies. The difference between the estimated premium and the ultimate premium is referred to as “earned but unbilled” (EBUB) premium. EBUB premium can be higher or lower than the estimated premium. EBUB premium is subject to significant variability and can either increase or decrease earned premium based upon several factors, including changes in premium growth, industry mix and economic conditions. Due to the timing of audits and other adjustments, ultimate premium earned is generally not determined for several months after the expiration of the policy. The Company estimates EBUB premiums on a quarterly basis using historical data and applying various assumptions based on the current market and economic conditions, and records an adjustment to premium, related losses, and expenses as warranted. Reinsurance Reinsurance premiums, losses and allocated loss adjustment expenses are accounted for on a basis consistent with those used in accounting for the original policies issued and the terms of the reinsurance contracts. Amounts recoverable from reinsurers include balances currently owed to the Company for losses and allocated loss adjustment expenses that have been paid to policyholders, amounts that are currently reserved for and will be recoverable once the related expense has been paid and experience-rated commissions recoverable upon commutation. Upon management’s determination that an amount due from a reinsurer is uncollectible due to the reinsurer’s insolvency or other matters, the amount is written off. Ceding commissions are earned from certain reinsurance companies and are intended to reimburse the Company for policy acquisition costs related to those premiums ceded to the reinsurers. Ceding commission income is recognized over the effective period of the related insurance policies in proportion to premium revenue earned and is reflected as a reduction in underwriting and certain other operating costs. Experience-rated commissions are earned from certain reinsurance companies based on the financial results of the applicable risks ceded to the reinsurers. These commission revenues on reinsurance contracts are recognized during the related reinsurance treaty period and are based on the same assumptions used for recording loss and allocated loss adjustment expenses. These commissions are reflected as a reduction in underwriting and certain other operating costs and are adjusted as necessary as experience develops or new information becomes known. Any such adjustments are included in income from current operations. Experience-rated commissions decreased underwriting and certain other operating costs by $ 1.7 million in 2023 , $ 0.1 million in 2022 and $ 1.0 million in 2021. Fee and Other Income The Company recognizes income related to commissions earned by AGAI as the related services are performed. Advertising All advertising expenditures incurred by the Company are charged to expense in the period to which they relate and are included in underwriting and certain other operating costs in the consolidated statements of income. Total advertising expenses incurred were $ 0.2 million in 2023, 2022, and 2021 . Income Taxes The Company accounts for income taxes using the liability method. The provision for income taxes has two components, amounts currently payable or receivable and deferred amounts. Deferred income tax assets and liabilities are recognized for the differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred income tax assets and liabilities are measured using tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company considers deferred tax assets to be recoverable if it is probable that the related tax losses can be offset by future taxable income. The Company includes reversal of existing temporary differences, tax planning strategies available and future operating income in this assessment. To the extent the deferred tax assets exceed the amount expected to be recovered in future years, the Company records a valuation allowance for the amount determined unrecoverable. Insurance-Related Assessments Insurance-related assessments are accrued in the period in which they have been incurred. The Company is subject to a variety of assessments related to insurance commerce, including those by state guaranty funds and workers’ compensation second-injury funds. State guaranty fund assessments are used by state insurance oversight agencies to cover losses of policyholders of insolvent or rehabilitated insurance companies and for the operating expenses of such agencies. Assessments based on premiums are generally paid one year after the calendar year in which the premium is written, while assessments based on losses are generally paid within one year of the calendar year in which the loss is paid. Policyholder Dividends The Company writes certain policies for which the policyholder may participate in favorable claims experience through a dividend. An estimated provision for workers’ compensation policyholders’ dividends is accrued as the related premiums are earned. Dividends do not become a fixed liability unless and until declared by the respective Boards of Directors of AMERISAFE’s insurance subsidiaries. The dividend to which a policyholder may be entitled is set forth in the policy and is related to the amount of losses sustained under the policy. Dividends are calculated after the policy expiration. The Company is able to estimate the policyholder dividend liability because the Company has information regarding the underlying loss experience of the policies written with dividend provisions and can estimate future dividend payments from the policy terms. Earnings Per Share The Company computes earnings per share (EPS) in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 260, Earnings Per Share. The Company has no participating unvested common shares which contain nonforfeitable rights to dividends and applies the treasury stock method in computing basic and diluted earnings per share. Basic EPS is calculated by dividing net income by the weighted average number of common shares outstanding during the period. The diluted EPS calculation includes potential common shares assumed issued under the treasury stock method, which reflects the potential dilution that would occur if any outstanding options or warrants were exercised or restricted stock becomes vested. Share-Based Compensation The Company recognizes the impact of its share-based compensation in accordance with FASB ASC Topic 718, Compensation-Stock Compensation. All share-based grants are recognized as compensation expense over the vesting period. The target value of long-term incentive awards are recognized as compensation over the performance period.

Investments

Investments	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Investments	2. Investments There were no short-term investments held at December 31, 2023. Short-term investments held at December 31, 2022 include $ 9.9 million of corporate bonds, $ 3.0 million of U.S. Treasury securities and obligations of U.S. government agencies, and $ 1.2 million of obligations of states and political subdivisions. The amortized cost, allowance for credit losses, carrying amount, gross unrecognized gains and losses, and the fair value of those investments classified as held-to-maturity at December 31, 2023 are summarized as follows: Amortized Allowance for Credit Losses Carrying Gross Gross Fair (in thousands) States and political subdivisions $ 416,916 $ ( 38 ) $ 416,878 $ 4,166 $ ( 12,074 ) $ 408,970 Corporate bonds 52,321 ( 142 ) 52,179 — ( 2,231 ) 49,948 U.S. agency-based mortgage-backed 3,297 — 3,297 25 ( 123 ) 3,199 U.S. Treasury securities and obligations 11,186 — 11,186 26 ( 273 ) 10,939 Asset-backed securities 37 ( 2 ) 35 1 — 36 Totals $ 483,757 $ ( 182 ) $ 483,575 $ 4,218 $ ( 14,701 ) $ 473,092 The amortized cost, gross unrealized gains and losses, fair value, and the allowance for credit losses of those investments classified as available-for-sale at December 31, 2023 are summarized as follows: Amortized Gross Gross Fair Allowance for Credit Losses (in thousands) States and political subdivisions $ 138,031 $ 583 $ ( 6,719 ) $ 131,895 $ — Corporate bonds 168,134 2,105 ( 3,486 ) 166,753 — U.S. agency-based mortgage-backed securities 5,190 — ( 445 ) 4,745 — U.S. Treasury securities and obligations 14,816 — ( 1,145 ) 13,671 — Totals $ 326,171 $ 2,688 $ ( 11,795 ) $ 317,064 $ — The cost, gross unrealized gains and losses, and the fair value of equity securities at December 31, 2023 are summarized as follows: Cost Gross Gross Fair (in thousands) Equity securities: Domestic common stock $ 44,046 $ 13,101 $ — $ 57,147 Total equity securities $ 44,046 $ 13,101 $ — $ 57,147 The amortized cost, allowance for credit losses, carrying amount, gross unrealized gains and losses, and the fair value of those investments classified as held-to-maturity at December 31, 2022 are summarized as follows: Amortized Allowance for Credit Losses Carrying Gross Gross Fair (in thousands) States and political subdivisions $ 415,136 $ ( 40 ) $ 415,096 $ 922 $ ( 20,074 ) $ 395,944 Corporate bonds 59,903 ( 196 ) 59,707 1 ( 3,857 ) 55,851 U.S. agency-based mortgage-backed 3,696 — 3,696 33 ( 153 ) 3,576 U.S. Treasury securities and obligations 13,123 — 13,123 25 ( 442 ) 12,706 Asset-backed securities 69 ( 3 ) 66 2 ( 1 ) 67 Totals $ 491,927 $ ( 239 ) $ 491,688 $ 983 $ ( 24,527 ) $ 468,144 The amortized cost, gross unrealized gains and losses, fair value, and the allowance for credit losses of those investments classified as available-for-sale at December 31, 2022 are summarized as follows: Amortized Gross Gross Fair Allowance for Credit Losses (in thousands) States and political subdivisions $ 166,019 $ 463 $ ( 9,826 ) $ 156,656 $ — Corporate bonds 150,915 530 ( 6,657 ) 144,788 — U.S. agency-based mortgage-backed securities 5,984 — ( 538 ) 5,446 — U.S. Treasury securities and obligations 15,675 9 ( 1,453 ) 14,231 — Totals $ 338,593 $ 1,002 $ ( 18,474 ) $ 321,121 $ — The cost, gross unrealized gains and losses on, and fair value of equity securities at December 31, 2022 are summarized as follows: Cost Gross Gross Fair (in thousands) Equity securities: Domestic common stock $ 50,185 $ 11,873 $ — $ 62,058 Total equity securities $ 50,185 $ 11,873 $ — $ 62,058 A summary of the carrying amounts and fair value of investments in fixed maturity securities classified as held-to-maturity, by contractual maturity, is as follows: December 31, 2023 December 31, 2022 Carrying Fair Carrying Fair (in thousands) Maturity: Within one year $ 64,129 $ 63,703 $ 41,878 $ 41,652 After one year through five years 136,854 131,396 165,216 159,006 After five years through ten years 114,990 110,814 121,739 112,665 After ten years 164,270 163,944 159,093 151,178 U.S. agency-based mortgage-backed securities 3,297 3,199 3,696 3,576 Asset-backed securities 35 36 66 67 Totals $ 483,575 $ 473,092 $ 491,688 $ 468,144 A summary of the amortized cost and fair value of investments in fixed maturity securities classified as available-for-sale, by contractual maturity, is as follows: December 31, 2023 December 31, 2022 Amortized Fair Amortized Fair (in thousands) Maturity: Within one year $ 25,995 $ 25,875 $ 28,290 $ 27,814 After one year through five years 106,178 102,201 68,876 65,406 After five years through ten years 82,664 80,911 102,296 95,366 After ten years 106,144 103,332 133,147 127,089 U.S. agency-based mortgage-backed securities 5,190 4,745 5,984 5,446 Totals $ 326,171 $ 317,064 $ 338,593 $ 321,121 Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay certain obligations with or without call or prepayment penalties. At December 31, 2023, there were $ 24.4 million of held-to-maturity investments on deposit with regulatory agencies of states in which the Company does business. A summary of the Company’s realized gains and losses on sales, calls or redemptions of investments for 2023, 2022 and 2021 is as follows: Fixed Maturity Equity Other Total (in thousands) Year ended December 31, 2023 Proceeds from sales $ 28,292 $ 12,688 $ 925 $ 41,905 Gross realized investment gains $ 181 $ 6,548 $ — $ 6,729 Gross realized investment losses ( 173 ) — — ( 173 ) Net realized investment gains 8 6,548 — 6,556 Other, including gains on calls and redemptions — — 23 23 Net realized gains on investments $ 8 $ 6,548 $ 23 $ 6,579 Year ended December 31, 2022 Proceeds from sales $ 42,505 $ 8,487 $ — $ 50,992 Gross realized investment gains $ 365 $ 3,350 $ — $ 3,715 Gross realized investment losses ( 51 ) — — ( 51 ) Net realized investment gains 314 3,350 — 3,664 Other, including losses on calls and redemptions ( 200 ) — ( 24 ) ( 224 ) Net realized gains (losses) on investments $ 114 $ 3,350 $ ( 24 ) $ 3,440 Year ended December 31, 2021 Proceeds from sales $ 28,191 $ — $ 12,388 $ 40,579 Gross realized investment gains $ 1,751 $ — $ 3 $ 1,754 Gross realized investment losses ( 21 ) — — ( 21 ) Net realized investment gains 1,730 — 3 1,733 Other, including losses on calls and redemptions ( 6 ) — ( 32 ) ( 38 ) Net realized gains (losses) on investments $ 1,724 $ — $ ( 29 ) $ 1,695 Major categories of the Company’s net investment income are summarized as follows: Year Ended December 31, 2023 2022 2021 (in thousands) Gross investment income: Fixed maturity securities $ 26,357 $ 24,399 $ 24,882 Equity securities 1,456 1,566 1,236 Short-term investments and cash and cash equivalents 4,456 2,260 304 Total gross investment income 32,269 28,225 26,422 Investment expenses ( 930 ) ( 1,002 ) ( 987 ) Net investment income $ 31,339 $ 27,223 $ 25,435 The following table summarizes the fair value and gross unrealized losses on fixed maturity securities classified as available-for-sale, aggregated by major investment category and length of time that the individual securities have been in a continuous unrealized loss position: Less Than 12 Months 12 Months or Greater Total Fair Value of Gross Fair Value of Gross Fair Value of Gross (in thousands) December 31, 2023 Available-for-Sale States and political subdivisions $ 14,115 $ 111 $ 72,358 $ 6,608 $ 86,473 $ 6,719 Corporate bonds 26,178 96 93,538 3,390 119,716 3,486 U.S. agency-based mortgage-backed — — 4,745 445 4,745 445 U.S. Treasury securities and — — 13,672 1,145 13,672 1,145 Total available-for-sale securities $ 40,293 $ 207 $ 184,313 $ 11,588 $ 224,606 $ 11,795 December 31, 2022 Available-for-Sale States and political subdivisions $ 87,522 $ 5,319 $ 24,980 $ 4,507 $ 112,502 $ 9,826 Corporate bonds 98,590 4,549 30,011 2,108 128,601 6,657 U.S. agency-based mortgage-backed 4,732 444 714 94 5,446 538 U.S. Treasury securities and 5,589 313 7,719 1,140 13,308 1,453 Total available-for-sale securities $ 196,433 $ 10,625 $ 63,424 $ 7,849 $ 259,857 $ 18,474 At December 31, 2023, the Company held 156 individual fixed maturity securities classified as available-for-sale that were in an unrealized loss position, of which 134 were in a continuous unrealized loss position for longer than 12 months. The following table illustrates the changes in the allowance for credit losses by major security type of the investments classified as held-to-maturity for the year ended December 31, 2023. States and Corporate U.S. Agency U.S. Asset-Backed Totals (in thousands) Balance at December 31, 2022 $ 40 $ 196 $ — $ — $ 3 $ 239 Provision for credit loss benefit ( 2 ) ( 54 ) — — ( 1 ) ( 57 ) Balance at December 31, 2023 $ 38 $ 142 $ — $ — $ 2 $ 182 The Company has established an allowance for credit losses on 471 held-to-maturity securities totaling $ 0.2 million as of December 31, 2023. The majority of those securities were issued by states and political subdivisions and corporate bonds at 451 and 17 , respectively. The Company has no allowance for credit losses on investments classified as available-for-sale as of December 31, 2023 and 2022. The credit rating used for held-to-maturity fixed income securities is the rating for each security as published by Moody’s, S&P, and Fitch to determine the probability of default. If there are two ratings, the lower rating is used. If there are three ratings, the median rating is used. If there is one rating, that rating is used. For corporate fixed income securities (given a rating), the probability of default comes from Moody’s annual study of corporate bond defaults published each February. The maximum maturity using the default rate is 20 years (any maturity greater than 20 years will use the 20-year rate). For municipal fixed income securities (given a rating), the probability of default comes from Moody’s annual study of municipal bond defaults published each July/August. The calculation of the credit loss allowance takes the amortized cost of the fixed income security and assumes default and recovery based on the average recovery rates from the Moody’s default studies. The amortized cost of the security plus any accrued interest, minus the amount recovered, is the estimated full amount the Company could lose in a default scenario. Then this amount is multiplied by the probability of default to determine the allowance for credit loss. The lower the security is rated, the higher likelihood of default, and therefore a higher allowance for credit loss. The longer to the maturity date of a security, the higher the default risk. The table below presents the amortized cost of held-to-maturity securities aggregated by credit quality indicator as of December 31, 2023. States and Corporate U.S. Agency U.S. Asset-Backed Totals Amortized cost (in thousands) AAA/AA/A ratings $ 413,966 $ 22,696 $ 3,297 $ 11,186 $ 23 $ 451,168 Baa/BBB ratings 2,950 29,625 — — 14 32,589 B ratings — — — — — — Total $ 416,916 $ 52,321 $ 3,297 $ 11,186 $ 37 $ 483,757

Premiums Receivable

Premiums Receivable	12 Months Ended
	Dec. 31, 2023
Insurance [Abstract]
Premiums Receivable	3. Premiums Receivable Premiums receivable consist primarily of premium-related balances due from policyholders. The balance is shown net of the allowance for credit losses. The components of premiums receivable are shown below: December 31, 2023 2022 (in thousands) Premiums receivable $ 137,535 $ 126,565 Allowance for credit losses ( 4,674 ) ( 4,852 ) Premiums receivable, net $ 132,861 $ 121,713 The following summarizes the activity in the allowance for credit losses on premiums receivable: December 31, 2023 2022 (in thousands) Balance, beginning of year $ 4,852 $ 4,386 Provision for credit loss expense 648 1,011 Write-offs ( 826 ) ( 545 ) Balance, end of year $ 4,674 $ 4,852 Included in premiums receivable at December 31, 2023, 2022 and 2021 is the Company’s estimate for EBUB premium of $ 9.9 million, $ 8.6 million and $ 7.9 million, respectively.

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs	12 Months Ended
	Dec. 31, 2023
Insurance [Abstract]
Deferred Policy Acquisition Costs	4. Deferred Policy Acquisition Costs Deferred policy acquisition costs represent those costs that are incremental and directly related to the successful acquisition of new or the renewal of existing insurance policies. We defer incremental costs that result directly from, and are essential to, the acquisition or renewal of an insurance policy. We also defer a portion of employee total compensation costs directly related to time spent performing specific acquisition or renewal activities. These costs are deferred and expensed over the life of the related policies. Major categories of the Company’s deferred policy acquisition costs are summarized as follows: December 31, 2023 2022 (in thousands) Agents’ commissions $ 12,955 $ 12,578 Premium taxes 2,672 2,587 Deferred underwriting expenses 2,348 2,236 Total deferred policy acquisition costs $ 17,975 $ 17,401 The following summarizes the activity in the deferred policy acquisition costs: Year Ended December 31, 2023 2022 2021 (in thousands) Balance, beginning of year $ 17,401 $ 17,059 $ 17,810 Policy acquisition costs deferred 41,433 40,194 37,730 Amortization expense during the year ( 40,859 ) ( 39,852 ) ( 38,481 ) Balance, end of year $ 17,975 $ 17,401 $ 17,059

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment	5. Property and Equipment Property and equipment consist of the following: December 31, 2023 2022 (in thousands) Land and office building $ 8,176 $ 8,108 Furniture and equipment 5,890 6,639 Software 9,333 9,258 Automobiles 74 74 Finance lease right-of-use assets 461 362 Total original cost 23,934 24,441 Accumulated depreciation and amortization ( 17,585 ) ( 17,216 ) Property and equipment, net $ 6,349 $ 7,225 Accumulated depreciation and amortization includes $ 0.3 million and $ 0.2 million that is related to equipment held under finance leases at December 31, 2023 and 2022, respectively, and is included in the underwriting and certain other operating costs line item on the income statement. The lease liabilities related to these properties are included in accounts payable and other liabilities.

Reinsurance

Reinsurance	12 Months Ended
	Dec. 31, 2023
Insurance [Abstract]
Reinsurance	6. Reinsurance The Company cedes certain premiums and losses to various reinsurers under excess-of-loss treaties. These reinsurance arrangements provide for greater diversification of business, allow management to control exposure to potential losses arising from large risks, and provide additional capacity for growth. Ceded reinsurance contracts do not relieve the Company from its obligations to policyholders. The Company remains liable to its policyholders for the portion reinsured to the extent that any reinsurer does not meet the obligations assumed under the reinsurance agreements. To minimize its exposure to significant losses from reinsurer insolvencies, the Company evaluates the financial condition of its reinsurers and monitors concentrations of credit risk arising from similar geographic regions, activities, or economic characteristics of the reinsurers on a continual basis. The effect of reinsurance on premiums written and earned in 2023, 2022 and 2021 was as follows: 2023 Premiums 2022 Premiums 2021 Premiums Written Earned Written Earned Written Earned (in thousands) Gross $ 285,355 $ 283,746 $ 276,110 $ 282,225 $ 278,294 $ 286,462 Ceded ( 16,621 ) ( 16,621 ) ( 10,527 ) ( 10,527 ) ( 10,469 ) ( 10,469 ) Net premiums $ 268,734 $ 267,125 $ 265,583 $ 271,698 $ 267,825 $ 275,993 The amounts recoverable from reinsurers consist of the following: December 31, 2023 2022 (in thousands) Unpaid losses recoverable: Case basis $ 80,211 $ 81,273 Incurred but not reported 39,535 31,282 Paid losses recoverable 7,796 12,440 Experience-rated commissions recoverable 2,781 1,054 Allowance for credit losses ( 360 ) ( 372 ) Total $ 129,963 $ 125,677 Amounts recoverable from reinsurers consists of ceded case reserves, ceded incurred but not reported (IBNR) reserves, and paid losses recoverable. Ceded case and ceded IBNR reserves represent the portion of gross loss and loss adjustment expense liabilities that are recoverable under reinsurance agreements, but are not yet due from reinsurers. Paid losses recoverable are receivables currently due from reinsurers for ceded paid losses. The Company considers paid losses recoverable outstanding for more than 90 days to be past due. At December 31, 2023, there were immaterial paid losses recoverable past due. The Company received reinsurance recoveries of $ 16.0 million in 2023, $ 1.4 million in 2022 and $ 5.8 million in 2021. The Company generally secures large reinsurance recoverable balances with various forms of collateral, including funds withheld accounts, irrevocable letters of credit and secured trusts. At December 31, 2023 , reinsurance recoverables from reinsurers that exceeded 1.5 % of statutory surplus of the Company’s insurance subsidiaries are shown below. Reinsurer A.M. Best Amounts Recoverable as of December 31, 2023 (in thousands) Hannover Reinsurance Ireland Limited (1) A+ $ 65,045 Arch Reinsurance Company (1) A+ 19,694 Allianz Risk Transfer AG (Bermuda) A+ 9,084 Minnesota Workers' Compensation Reinsurance Association (1) NR 8,950 Munich Reinsurance America, Inc (1) A+ 5,542 Odyssey America Reinsurance Corporation A+ 4,961 Other reinsurers 17,047 Total amounts recoverable from reinsurers 130,323 Allowance for credit losses ( 360 ) Total amounts recoverable from reinsurers net of allowance for credit losses 129,963 Funds withheld and letters of credit related to the above recoverables ( 81,520 ) Total unsecured amounts recoverable from reinsurers $ 48,443 (1) Current participant in our 2024 reinsurance program. The table below presents the change in the allowance for credit losses on amounts recoverable from reinsurers for the years ended December 31, 2023 and 2022. Year Ended December 31, 2023 2022 (in thousands) Balance, beginning of period $ 372 $ 440 Provision for credit loss expense (benefit) ( 12 ) ( 68 ) Balance, end of period $ 360 $ 372

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	7. Income Taxes The Company’s deferred income tax assets and liabilities are as follows: December 31, 2023 2022 (in thousands) Deferred income tax assets: Discounting of net unpaid loss and loss adjustment expenses $ 15,035 $ 16,164 Unearned premiums 6,072 6,173 Accrued expenses and other 2,103 2,403 State income tax 2,495 2,468 Accrued policyholder dividends 1,723 1,841 Accrued insurance-related assessments 1,870 1,990 Net unrealized loss on securities — 1,182 Total deferred tax assets 29,298 32,221 Deferred income tax liabilities: Deferred policy acquisition costs ( 4,578 ) ( 4,391 ) Net unrealized gain on securities available-for-sale ( 839 ) — Property and equipment and other ( 365 ) ( 473 ) Salvage and subrogation ( 284 ) ( 320 ) Loss reserves adjustment ( 2,829 ) ( 4,243 ) Total deferred income tax liabilities ( 8,895 ) ( 9,427 ) Net deferred income taxes $ 20,403 $ 22,794 The components of consolidated income tax expense (benefit) are as follows: Year Ended December 31, 2023 2022 2021 (in thousands) Current: Federal $ 13,621 $ 12,753 $ 11,368 State 1,020 427 1,055 14,641 13,180 12,423 Deferred: Federal 655 ( 802 ) 2,943 State ( 27 ) ( 334 ) ( 1,673 ) 628 ( 1,136 ) 1,270 Total $ 15,269 $ 12,044 $ 13,693 As of December 31, 2023, 2022 and 2021 , the Company had no valuation allowance against its deferred income tax assets and liabilities. Income tax expense from operations is different from the amount computed by applying the U.S. federal income tax statutory rate of 21 % to income before income taxes as follows: Year Ended December 31, 2023 2022 2021 (in thousands) Income tax computed at federal statutory tax rate $ 16,249 $ 14,206 $ 16,684 Tax-exempt interest, net ( 1,997 ) ( 2,268 ) ( 2,511 ) State income tax 779 3 911 Dividends received deduction ( 125 ) ( 134 ) ( 107 ) Valuation allowance 46 ( 17 ) ( 1,803 ) Prior year adjustments 13 14 344 Other 304 240 175 $ 15,269 $ 12,044 $ 13,693 The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. There were no uncertain tax positions as of December 31, 2023, 2022 and 2021. The Inflation Reduction Act was enacted on August 16, 2022, and included a new Corporate Alternative Minimum Tax (CAMT). The Company has determined they do not expect to be liable for CAMT in 2023. Tax years 2019 through 2023 are subject to examination by the federal and state taxing authorities.

Line of Credit

Line of Credit	12 Months Ended
	Dec. 31, 2023
Text Block [Abstract]
Line of Credit	8. Line of Credit The Company has an agreement providing for a line of credit in the maximum amount of $ 20.0 million with Frost Bank. The agreement was renewed in December 2023 . Under the agreement, advances may be made either in the form of loans or letters of credit. Borrowings under the agreement accrue at interest rates based upon prime rate or the one-month term SOFR rate. The line of credit is unsecured. No borrowings or letters of credit were outstanding under the line of credit arrangement at December 31, 2023 or 2022.

Loss and Loss Adjustment Expens

Loss and Loss Adjustment Expenses	12 Months Ended
	Dec. 31, 2023
Insurance [Abstract]
Loss and Loss Adjustment Expenses	9. Loss and Loss Adjustment Expenses The following development tables provide the incurred and paid losses and allocated loss adjustment expenses, net of reinsurance, for workers’ compensation and general liability for accident years 2014 through 2023. The incurred but not reported (IBNR) losses and claims frequency is included for each accident year presented. Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance As of For the Years Ended December 31, December 31, 2023 (Dollars in thousands) Total IBNR Plus Expected Cumulative Development Number of Accident Unaudited (1) on Reported Claims Year 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Claims Reported 2014 $ 268,846 $ 268,846 $ 249,097 $ 235,058 $ 226,933 $ 218,386 $ 212,417 $ 210,811 $ 210,096 $ 209,210 $ 4,097 5,841 2015 — 262,573 262,573 252,514 235,471 220,965 211,758 207,929 207,086 205,556 4,374 5,517 2016 — — 250,491 250,491 241,406 218,005 209,214 202,820 201,604 198,566 4,691 5,394 2017 — — — 244,094 244,098 234,587 220,096 211,964 208,360 206,293 5,324 5,214 2018 — — — — 250,487 250,487 235,641 217,369 208,517 205,001 4,347 5,477 2019 — — — — — 241,344 241,344 227,246 214,123 206,109 5,672 5,223 2020 — — — — — — 220,710 220,710 214,500 207,047 13,909 4,391 2021 — — — — — — — 222,715 222,715 215,232 2,894 4,304 2022 — — — — — — — — 192,907 192,907 ( 12,814 ) 4,065 2023 — — — — — — — — — 189,659 12,433 3,715 Total $ 2,035,580 $ 44,927 Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance For the Years Ended December 31, (Dollars in thousands) Accident Unaudited (1) Claim Year 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Frequency (2) 2014 $ 53,060 $ 119,820 $ 153,320 $ 169,736 $ 180,683 $ 186,129 $ 191,394 $ 192,169 $ 193,192 $ 195,409 14.99 2015 — 54,141 121,599 151,818 170,461 182,053 185,657 188,145 189,339 190,588 14.25 2016 — — 52,238 115,713 143,016 156,860 166,887 172,133 174,134 178,572 14.23 2017 — — — 56,951 122,552 151,427 166,448 175,733 183,696 185,690 14.69 2018 — — — — 62,061 126,057 152,328 172,423 181,081 184,797 15.23 2019 — — — — — 58,884 120,512 154,391 168,448 176,488 15.28 2020 — — — — — — 50,113 109,882 137,411 153,974 13.95 2021 — — — — — — — 52,292 130,288 159,864 15.02 2022 — — — — — — — — 50,954 110,494 14.40 2023 — — — — — — — — — 47,207 13.09 Total 1,583,083 All outstanding liabilities before 2014, net of reinsurance 101,752 Liabilities for loss and loss adjustment expenses, net of reinsurance 554,248 (1) Data presented for these calendar years is required supplementary information, which is unaudited. (2) Frequency, as calculated above, refers to reported claims divided by gross premium earned. The average annual percentage payout of incurred losses by age, net of reinsurance, for workers’ compensation and general liability as of December 31, 2023 is summarized below. Since workers’ compensation has long payout periods, the table below shows less than 100% in the years disclosed. This is required supplementary information, which is unaudited. Average Annual Percentage Payout of Incurred Losses by Age, Net of Reinsurance (Unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 26.4 % 31.7 % 14.3 % 8.0 % 4.8 % 2.5 % 1.4 % 1.1 % 0.5 % 1.1 % The following table provides a reconciliation of the beginning and ending reserve balances, net of related amounts recoverable from reinsurers, for 2023, 2022 and 2021: Year Ended December 31, 2023 2022 2021 (in thousands) Balance, beginning of period $ 696,037 $ 745,278 $ 760,561 Less amounts recoverable from reinsurers 112,555 119,266 105,707 Net balance, beginning of period 583,482 626,012 654,854 Add incurred related to: Current accident year 189,659 192,907 222,715 Prior accident years ( 41,396 ) ( 40,591 ) ( 61,917 ) Total incurred 148,263 152,316 160,798 Less paid related to: Current accident year 47,207 50,954 52,292 Prior accident years 130,290 143,892 137,348 Total paid 177,497 194,846 189,640 Net balance, end of period 554,248 583,482 626,012 Add amounts recoverable from reinsurers 119,746 112,555 119,266 Balance, end of period $ 673,994 $ 696,037 $ 745,278 The final resolution of the estimated loss reserve liability may be different from that anticipated at the reporting date because of the inherent uncertainty in loss reserve estimates, including, but not limited to, the future settlement environment. Consequently, actual paid losses in the future may result in a significantly different amount than currently reserved, favorable or unfavorable. The difference between currently estimated losses and losses estimated for a prior period at a prior valuation date is known as development. Development is unfavorable when the losses ultimately settle for more than they were reserved for or future estimates suggest that reserves should be increased on unresolved claims. Development is favorable when the losses ultimately settle for less than they were reserved for or future estimates suggest that reserves should be decreased on unresolved claims. Favorable or unfavorable development of loss reserves are reflected in our results of operations in the period the estimates are changed. The foregoing reconciliation reflects favorable development of the net reserves at December 31, 2023, 2022 and 2021. The favorable development reduced loss and loss adjustment expenses incurred by $ 41.4 million in 2023, driven primarily by accident years 2018 through 2021. In 2022 and 2021, the Company recorded favorable development of $ 40.6 million and $ 61.9 million, respectively. The revisions to the Company’s reserves reflect new information gained by claims adjusters in the normal course of adjusting claims and is reflected in the financial statements when the information becomes available. It is typical for more serious claims to take several years or longer to settle and the Company continually revises estimates as more information about claimants’ medical conditions and potential disability becomes known and the claims get closer to being settled. Multiple factors can cause loss development both unfavorable and favorable. The favorable loss development we experienced across accident years was largely due to favorable case reserve development from closed claims and claims where the worker had reached maximum medical improvement. Reserves established for workers’ compensation insurance includes the exposure to occupational disease or accidents related to asbestos or environmental claims. The exposure to asbestos claims emanates from the direct sale of workers’ compensation insurance. These claims resulted from industry workers who were exposed to tremolite asbestos dust and electricians and carpenters who were exposed to products that contained asbestos. There has been no known exposure to asbestos claims arising from assumed business. The emergence of these claims is slow and highly unpredictable. The Company estimates full impact of the asbestos exposure by establishing full case basis reserves on all known losses. Reserves for losses incurred but not reported (IBNR) include a provision for development of reserves on reported losses. Reserves are established for loss adjustment expenses (LAE) associated with these case and IBNR loss reserves. The following table details our exposures to various asbestos related claims: Year Ended December 31, 2023 2022 2021 (in thousands) Reserves for loss and LAE at beginning of year $ 248 $ 260 $ 318 Incurred losses and LAE during the current year 15 ( 2 ) ( 44 ) Loss and LAE payments 47 ( 10 ) ( 14 ) Reserves for loss and LAE at end of year $ 310 $ 248 $ 260 The Company has historically written general liability coverages that are reported in other liability lines of business. These coverages may be associated with the property and casualty industry’s exposure to environmental claims. However, the Company has not been notified by any insured for which exposure exists due to these types of claims. Company management believes potential exposure to environmental claims to be remote. Therefore, the Company has no loss or loss adjustment expense reserves for such liabilities. The anticipated effect of inflation is implicitly considered when estimating liabilities for loss and loss adjustment expenses. In establishing our reserves for loss and loss adjustment expenses, we review the results of analyses using individual case-base valuations and statistical and actuarial methods that utilize historical loss data from our more than 38 years of underwriting workers’ compensation insurance. The actuarial analysis of our historical data provides some of the factors we use in estimating our loss reserves. These factors are primarily measures over time of the number of claims paid and reported, average paid and incurred claim amounts, claim closure rates and claim payment patterns. In evaluating the results of our analyses, management also uses substantial judgment in considering other factors that are not considered in these actuarial analyses, including changes in business mix, claims management, regulatory issues, medical trends, employment and wage patterns, insurance policy coverage interpretations, judicial determinations and other subjective factors. Due to the inherent uncertainty associated with these estimates, and the cost of incurred but unreported claims, our actual liabilities may vary significantly from our original estimates. These anticipated trends are monitored

Statutory Accounting and Regula

Statutory Accounting and Regulatory Requirements	12 Months Ended
	Dec. 31, 2023
Insurance [Abstract]
Statutory Accounting and Regulatory Requirements	10. Statutory Accounting and Regulatory Requirements The Company’s insurance subsidiaries file financial statements prepared in accordance with statutory accounting principles prescribed or permitted by the insurance regulatory authorities of the states in which the subsidiaries are domiciled. Statutory-basis shareholders’ capital and surplus at December 31, 2023, 2022 and 2021 of the directly owned insurance subsidiary, AIIC, and the combined statutory-basis net income and realized investment gains for all AMERISAFE’s insurance subsidiaries for the three years in the period ended December 31, 2023, were as follows: 2023 2022 2021 (in thousands) Capital and surplus $ 254,856 $ 252,486 $ 277,789 Net income 56,637 59,810 53,094 Net realized gains on investments 5,470 3,692 1,695 Property and casualty insurance companies are subject to certain risk-based capital requirements (RBC) specified by the National Association of Insurance Commissioners. Under these requirements, a target minimum amount of capital and surplus maintained by a property/casualty insurance company is determined based on the various risk factors related to it. At December 31, 2023, the capital and surplus of AIIC and its subsidiaries exceeded the minimum RBC requirements. Pursuant to regulatory requirements, AIIC cannot pay dividends to the Company in excess of the greater of 10 % of statutory surplus, or statutory net income, excluding realized investment gains, for the preceding 12-month period, without the prior approval of the Nebraska Director of Insurance. However, for purposes of this dividend calculation, net income from the previous two calendar years may be carried forward to the extent that it has not already been paid out as dividends. AIIC paid $ 56.0 million in dividends to the Company in 2023, $ 77.7 million in 2022 and $ 148.4 million in 2021. Based upon the dividend limitation described above, AIIC could pay to the Company dividends of up to $ 52.6 million in 2024 without seeking regulatory approval.

Capital Stock

Capital Stock	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Capital Stock	11. Capital Stock Common Stock The Company is authorized to issue 50,000,000 shares of common stock, par value $ 0.01 per share. At December 31, 2023, there were 20,704,448 shares of common stock issued and 19,135,008 shares outstanding. Preferred Stock The Company is authorized to issue 10,000,000 shares of preferred stock, par value $ 0.01 per share. At December 31, 2023 , there were no shares of preferred stock outstanding.

Restricted Stock and Stock Opti

Restricted Stock and Stock Options	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Restricted Stock and Stock Options	12. Restricted Stock and Stock Options 2012 Equity and Incentive Compensation Plan In 2012, the Company’s shareholders approved the AMERISAFE 2012 Equity and Incentive Compensation Plan (the 2012 Incentive Plan). The 2012 Incentive Plan is administered by the Compensation Committee of the Board and is designed to attract, retain and motivate non-employee directors, officers, key employees and consultants by providing incentives for superior performance. The 2012 Incentive Plan authorizes the grant of equity-based compensation in the form of option rights, appreciation rights, restricted shares, restricted stock units, cash incentive awards, performance shares and units, and other types of awards. In connection with the approval of the 2022 Equity and Incentive Compensation Plan (the 2022 Incentive Plan) by the Company’s shareholders, no further grants will be made under the 2012 Incentive Plan. All grants made under the 2012 Incentive Plan will continue in effect, subject to the terms and conditions of the 2012 Incentive Plan. In 2023, 32,928 shares of common stock were granted under the 2012 Incentive Plan, which will vest through 2027. In 2022, 40,959 shares of common stock and 1,062 shares of restricted stock were granted under the 2012 Incentive Plan which will vest through 2027. The following table summarizes information about the common and restricted stock activity under the 2012 Incentive Plan: Shares Weighted Nonvested balance at January 1, 2021 15,314 60.23 Granted 27,388 64.36 Vested ( 29,881 ) 63.03 Forfeited — — Nonvested balance at December 31, 2021 12,821 62.52 Granted 42,021 48.08 Vested ( 44,311 ) 49.21 Forfeited — — Nonvested balance at December 31, 2022 10,531 60.92 Granted 18,561 52.35 Vested ( 21,887 ) 53.65 Forfeited ( 5,900 ) 50.97 Nonvested balance at December 31, 2023 1,305 55.18 The Company recognized a forfeiture benefit of $ 43,000 in 2023 and compensation expense of $ 232,000 and $ 234,000 in 2022 and 2021 , respectively, related to share-based grants. The Company recognized a forfeiture benefit of $ 223,000 and compensation expense of $ 1,608,000 and $ 1,741,000 in 2022 and 2021, respectively, related to long-term incentive awards under the 2012 Incentive Plan. The long-term incentive award is a liability award. 2022 Equity and Incentive Compensation Plan In 2022, the Company’s shareholders approved the AMERISAFE 2022 Equity and Incentive Compensation Plan (the 2022 Incentive Plan). The 2022 Incentive Plan is administered by the Compensation Committee of the Board and is designed to attract, retain and motivate non-employee directors, officers, key employees and consultants by providing incentives for superior performance. The 2022 Incentive Plan authorizes the grant of equity-based compensation in the form of option rights, appreciation rights, restricted shares, restricted stock units, cash incentive awards, performance shares and units, and other types of awards. A maximum of 500,000 shares of common stock may be issued or transferred upon the exercise of option rights or appreciation rights, as restricted shares and released from substantial risk of forfeiture, in payment of restricted stock units, in payment of performance shares or performance units that have been earned, as awards of shares of common stock, as other awards granted under the 2022 Incentive Plan, or in payment of dividend equivalents paid with respect to awards made under the plan subject to adjustment in the event of a merger, stock dividend, stock split or similar event, which may be original issue shares or treasury shares or a combination of the two. In 2023, 33,369 restricted stock units were granted under the 2022 Incentive Plan, which will vest through 2027. At December 31, 2023, there were 442,694 shares of common stock available for future awards under the 2022 Incentive Plan. The following table summarizes information about the restricted stock activity under the 2022 Incentive Plan: Shares Weighted Nonvested balance at January 1, 2021 — — Granted — — Vested — — Forfeited — — Nonvested balance at December 31, 2021 — — Granted 2,098 47.65 Vested — — Forfeited — — Nonvested balance at December 31, 2022 2,098 47.65 Granted — — Vested ( 419 ) 47.65 Forfeited — — Nonvested balance at December 31, 2023 1,679 47.65 The following table summarizes information about the restricted stock unit activity under the 2022 Incentive Plan: Shares Weighted Nonvested balance at January 1, 2021 — — Granted — — Vested — — Forfeited — — Nonvested balance at December 31, 2021 — — Granted 22,826 48.19 Vested — — Forfeited — — Nonvested balance at December 31, 2022 22,826 48.19 Granted 33,369 52.61 Vested ( 7,989 ) 48.19 Forfeited ( 987 ) 51.26 Nonvested balance at December 31, 2023 47,219 51.19 The Company recognized compensation expense of $ 559,000 and $ 137,000 in 2023 and 2022 , respectively, related to share-based grants under the 2022 Incentive Plan. The Company recognized compensation expense of $ 780,000 in 2023 related to long-term incentive awards under the 2022 Incentive Plan. The long-term incentive award is a liability award. Non-Employee Director Restricted Stock Plan The AMERISAFE Non-Employee Director Restricted Stock Plan (the Restricted Stock Plan) is administered by the Compensation Committee of the Board and provides for the automatic grant of restricted stock awards to non-employee directors of the Company. Awards to non-employee directors are generally subject to terms including non-transferability, immediate vesting upon death or total disability of a director, forfeiture of unvested shares upon termination of service by a director and acceleration of vesting upon a change of control of the Company. The maximum number of shares of common stock that may be issued pursuant to restricted stock awards under the Restricted Stock Plan is 150,000 shares, subject to the authority of the Board to adjust this amount in the event of a merger, consolidation, reorganization, stock split, combination of shares, recapitalization or similar transaction affecting the common stock. At December 31, 2023, there were 21,622 shares of common stock available for future awards under the Restricted Stock Plan. Under the Restricted Stock Plan, each non-employee director is automatically granted a restricted stock award for a number of shares equal to $ 75,000 divided by the closing price of the Company’s common stock on the date of the annual meeting of shareholders at which the non-employee director is elected or is continuing as a member of the Board. Each restricted stock award vests on the date of the next annual meeting of shareholders following the date of grant, subject to the continued service of the non-employee director. As of December 31, 2023, there were 9,856 shares of restricted stock outstanding under the Non-Employee Director Restricted Stock Plan, all of which will vest on the date of the annual meeting of shareholders in 2024. The following table summarizes information about the restricted stock activity under the Non-Employee Director Restricted Stock Plan: Shares Weighted Nonvested balance at January 1, 2021 5,068 69.03 Granted 5,607 62.40 Vested ( 5,068 ) 69.03 Forfeited — — Nonvested balance at December 31, 2021 5,607 62.40 Granted 12,149 50.41 Vested ( 5,868 ) 61.75 Forfeited — — Nonvested balance at December 31, 2022 11,888 50.47 Granted 9,856 53.26 Vested ( 10,402 ) 50.47 Forfeited ( 1,486 ) 55.08 Nonvested balance at December 31, 2023 9,856 53.26 The Company recognized compensation expense of $ 484,000 , $ 502,000 , and $ 344,000 in 2023, 2022, and 2021 , respectively, related to the Non-Employee Director Restricted Stock Plan.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	13. Earnings Per Share The Company computes earnings per share (EPS) in accordance with FASB Accounting Standards Codification (ASC) Topic 260, Earnings Per Share . The Company has no participating unvested common shares which contain nonforfeitable rights to dividends and applies the treasury stock method in computing basic and diluted earnings per share. Basic EPS is calculated by dividing net income by the weighted average number of common shares outstanding during the period. The diluted EPS calculation includes potential common shares assumed issued under the treasury stock method, which reflects the potential dilution that would occur if any outstanding options were exercised or restricted stock becomes vested. The calculation of basic and diluted EPS for the years ended December 31, 2023, 2022 and 2021 are presented below. For the Year Ended December 31, 2023 2022 2021 (in thousands, except earnings per share amounts) Basic EPS: Net income – basic $ 62,108 $ 55,602 $ 65,756 Basic weighted average common shares 19,149 19,233 19,332 Basic earnings per share $ 3.24 $ 2.89 $ 3.40 Diluted EPS: Net income – diluted $ 62,108 $ 55,602 $ 65,756 Diluted weighted average common shares: Weighted average common shares 19,149 19,233 19,332 Restricted stock and RSUs 77 89 77 Diluted weighted average common shares 19,226 19,322 19,409 Diluted earnings per common share $ 3.23 $ 2.88 $ 3.39 The table below sets forth the reconciliation of the weighted average shares used for the basic and diluted EPS calculation. Years Ended 2023 2022 2021 Basic weighted average common shares 19,149,080 19,233,241 19,332,391 Add: Other common shares eligible for common dividends: Restricted stock and RSUs 76,941 88,476 76,228 Diluted weighted average common shares 19,226,021 19,321,717 19,408,619

Comprehensive Income and Accumu

Comprehensive Income and Accumulated Other Comprehensive Income	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Comprehensive Income and Accumulated Other Comprehensive Income (Loss)	14. Comprehensive Income and Accumulated Other Comprehensive Income (Loss) Comprehensive income includes net income plus unrealized gains (losses) on our available-for-sale investment securities, net of tax. In reporting comprehensive income on a net basis in the statements of comprehensive income, we used a 21 percent tax rate. The difference between net income as reported and comprehensive income was due primarily to changes in unrealized gains and losses, net of tax, on available-for-sale debt securities. The following table illustrates the changes in the balance of each component of accumulated other comprehensive income (loss) for each period presented in the financial statements. Year Ended December 31, 2023 2022 2021 (in thousands) Balance, beginning of period $ ( 13,828 ) $ 13,537 $ 21,019 Other comprehensive income (loss) before reclassification 6,202 ( 24,966 ) ( 5,289 ) Amounts reclassified from accumulated other 432 ( 2,399 ) ( 2,193 ) Net current period other comprehensive income (loss) 6,634 ( 27,365 ) ( 7,482 ) Balance, end of period $ ( 7,194 ) $ ( 13,828 ) $ 13,537 The sale or credit loss allowance adjustment of an available-for-sale security results in amounts being reclassified from accumulated other comprehensive income (loss) to current period net income. The effects of reclassifications out of accumulated other comprehensive income (loss) by the respective line items of net income are presented in the following table. Component of Accumulated Other Year Ended December 31, Affected line item in the statement 2023 2022 2021 (in thousands) Unrealized gains (losses) on available-for- $ ( 547 ) $ 3,037 $ 2,776 Net realized gains on ( 547 ) 3,037 2,776 Income before income taxes 115 ( 638 ) ( 583 ) Income tax expense $ ( 432 ) $ 2,399 $ 2,193 Net income Pre-Tax Tax Expense (Benefit) Net-of-Tax (in thousands) December 31, 2023 Unrealized gain on securities: Unrealized gain on available-for-sale securities $ 7,850 $ 1,648 $ 6,202 Reclassification adjustment for gains realized in net income 547 115 432 Net unrealized gain 8,397 1,763 6,634 Other comprehensive income $ 8,397 $ 1,763 $ 6,634 December 31, 2022 Unrealized loss on securities: Unrealized loss on available-for-sale securities $ ( 31,602 ) $ ( 6,636 ) $ ( 24,966 ) Reclassification adjustment for losses realized in net income ( 3,037 ) ( 638 ) ( 2,399 ) Net unrealized loss ( 34,639 ) ( 7,274 ) ( 27,365 ) Other comprehensive loss $ ( 34,639 ) $ ( 7,274 ) $ ( 27,365 ) December 31, 2021 Unrealized loss on securities: Unrealized loss on available-for-sale securities $ ( 6,695 ) $ ( 1,406 ) $ ( 5,289 ) Reclassification adjustment for losses realized in net income ( 2,776 ) ( 583 ) ( 2,193 ) Net unrealized loss ( 9,471 ) ( 1,989 ) ( 7,482 ) Other comprehensive loss $ ( 9,471 ) $ ( 1,989 ) $ ( 7,482 )

Employee Benefit Plan

Employee Benefit Plan	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Employee Benefit Plan	15. Employee Benefit Plan The Company’s 401(k) benefit plan is available to all employees. The Company matches 50 % of employee contributions up to 6 % of compensation for participating employees, subject to certain limitations. Employees are fully vested in employer contributions to this plan after five years . Company contributions to this plan were $ 0.7 million in each of 2023, 2022 and 2021.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	16. Commitments and Contingencies The Company is a party to various legal actions arising principally from claims made under insurance policies and contracts. Those actions are considered by the Company in estimating reserves for loss and loss adjustment expenses. In the opinion of management, the ultimate disposition of these matters will not have a material adverse effect on the Company’s consolidated financial position or results of operations. The Company provides workers’ compensation insurance in several states that maintain second-injury funds. Incurred losses on qualifying claims that exceed certain amounts may be recovered from these state funds. There is no assurance that the applicable states will continue to provide funding under these programs. The Company manages risk on certain long-duration claims by settling these claims through the purchase of annuities from unaffiliated carriers. In the event these carriers are unable to meet their obligations under these contracts, the Company could be liable to the c laimants. The following table summa rizes the fair value of the annuities at December 31, 2023, that the Company has purchased to satisfy its obligations. Life Insurance Company A.M. Best Statement Value (in thousands) Pacific Life Insurance Company A+ $ 20,961 Metropolitan Tower Life Insurance Company A+ 15,173 American General Life Insurance Company A 14,171 United of Omaha Life Insurance Company A+ 10,316 Brighthouse Financial Life Insurance Company A 9,039 New York Life Insurance Company A++ 8,271 Berkshire Hathaway Life Insurance Company of Nebraska A++ 7,226 John Hancock Life Insurance Company A+ 5,569 Athene Annuity and Life Company A 3,644 Protective Life Insurance Company A+ 3,514 Wilton Reassurance Company A+ 2,971 Other 6,041 $ 106,896 Substantially all of the annuities are issued or guaranteed by life insurance companies that have an A.M. Best Company rating of “A” (Excellent) or better. The Compan y has operating and finance leases for office space and equipment. Our leases have remaining lease terms of one month to 47 months, some of which include options to extend the leases for up to five years . The components of lease expense were as follows: Year Ended December 31, 2023 2022 (in thousands) Operating lease cost $ 108 $ 103 Finance lease cost: Amortization of right-of-use assets 320 193 Interest on lease liabilities 8 9 Total finance lease cost $ 328 $ 202 Supplemental cash flow information related to leases was as follows: Year Ended December 31, 2023 2022 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ ( 77 ) $ ( 87 ) Operating cash flows from finance leases 8 9 Financing cash flows from finance leases 91 58 Right-of-use assets obtained in the exchange for the lease obligations wer e as follows: December 31, 2023 2022 (in thousands) Operating leases $ 26 $ 45 Finance leases 99 122 Supplemental balance sheet information related to leases wa s as follows: December 31, 2023 December 31, 2022 Balance Sheet Classification (in thousands) Operating leases: Operating lease right-of-use assets $ 29 $ 106 Other assets Operating lease liabilities $ 29 $ 106 Accounts payable and other liabilities Finance leases: Finance lease right-of-use assets $ 462 $ 362 Finance lease accumulated amortization ( 320 ) ( 193 ) Property and equipment, net $ 142 $ 169 Property and equipment, net Finance lease liabilities $ 238 $ 230 Accounts payable and other liabilities December 31, 2023 2022 Weighted average remaining lease term: Operating leases 0.7 years 1.2 years Finance leases 2.9 years 3.0 years Weighted average discount rate: Operating leases 6.66 % 1.59 % Finance leases 5.52 % 3.33 % The following is a ma turity analysis of the annual undiscounted cash flows of the operating and finance lease liabilities as of December 31, 2023: Operating Leases Finance Leases (in thousands) 2024 $ 29 $ 97 2025 1 93 2026 — 49 2027 — 22 2028 — — Total lease payments 30 261 Less imputed interest 1 23 Total $ 29 $ 238 Rental expense was $ 0.1 million in 2023, $ 0.1 million in 2022 and $ 0.2 million in 2021 .

Concentration of Operations

Concentration of Operations	12 Months Ended
	Dec. 31, 2023
Concentration Of Operations [Abstract]
Concentration of Operations	17. Concentration of Operations The Company derives its premium revenues from its operations in the workers’ compensation insurance line of business. Net premiums earned during 2023, 2022 and 2021 for the top ten states in 2023 and all others are shown below: 2023 2022 2021 Dollars Percent Dollars Percent Dollars Percent (Dollars in thousands) Florida $ 33,838 12.7 % $ 31,955 11.8 % $ 31,514 11.4 % Georgia 30,504 11.4 % 30,831 11.3 % 34,772 12.6 % Louisiana 21,150 7.9 % 21,804 8.0 % 20,476 7.4 % Pennsylvania 19,963 7.5 % 21,017 7.7 % 19,574 7.1 % North Carolina 16,432 6.2 % 17,883 6.6 % 15,964 5.8 % Illinois 13,072 4.9 % 12,209 4.5 % 13,680 5.0 % Wisconsin 11,724 4.4 % 12,007 4.4 % 13,108 4.7 % Virginia 10,400 3.8 % 11,537 4.3 % 12,579 4.6 % South Carolina 9,050 3.4 % 9,808 3.6 % 9,186 3.3 % Minnesota 8,845 3.3 % 9,827 3.6 % 10,612 3.8 % All others 92,147 34.5 % 92,820 34.2 % 94,528 34.3 % Total net premiums earned $ 267,125 100.0 % $ 271,698 100.0 % $ 275,993 100.0 %

Fair Values of Financial Instru

Fair Values of Financial Instruments	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Values of Financial Instruments	18. Fair Values of Financial Instruments The Company determines fair value amounts for financial instruments using available third-party market information. When such information is not available, the Company determines the fair value amounts using appropriate valuation methodologies. Nonfinancial instruments such as real estate, property and equipment, deferred policy acquisition costs, deferred income taxes and loss and loss adjustment expense reserves are excluded from the fair value disclosure. Cash and Cash Equivalents —The carrying amounts reported in the accompanying consolidated balance sheets for these financial instruments approximate their fair values. Investments —The Company’s fixed maturity securities are priced by an independent pricing service. The prices provided by the independent pricing service are estimated based on observable market data in active markets utilizing pricing models and processes, which may include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, benchmark securities, bids, offers, sector groupings, matrix pricing and reference data. The Company reviews the prices provided by pricing services for reasonableness and compares them to prices provided by the Company’s custodian which uses different pricing services. Short-Term Investments —The carrying amounts reported in the accompanying consolidated balance sheets for these financial instruments approximate their fair value. The following table summarizes the carrying or reported values and corresponding fair values for financial instruments: December 31, 2023 2022 Carrying Fair Carrying Fair (in thousands) Assets: Fixed maturity securities—held-to-maturity $ 483,575 $ 473,092 $ 491,688 $ 468,144 Fixed maturity securities—available-for-sale 317,064 317,064 321,121 321,121 Equity securities 57,147 57,147 62,058 62,058 Short-term investments — — 14,120 14,120 Cash and cash equivalents 38,682 38,682 61,469 61,469 The Company carries available-for-sale securities and equity securities at fair value in our consolidated financial statements and determines fair value measurements and disclosure in accordance with FASB ASC Topic 820, Fair Value Measurements and Disclosures. The Company determines the fair values of its financial instruments based on the fair value hierarchy established in ASC Topic 820, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard defines fair value, describes three levels of inputs that may be used to measure fair value, and expands disclosures about fair value measurements. Fair value is defined in ASC Topic 820 as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is the price to sell an asset or transfer a liability and, therefore, represents an exit price, not an entry price. Fair value is the exit price in the principal market (or, if lacking a principal market, the most advantageous market) in which the reporting entity would transact. Fair value is a market-based measurement, not an entity-specific measurement, and, as such, is determined based on the assumptions that market participants would use in pricing the asset or liability. The exit price objective of a fair value measurement applies regardless of the reporting entity’s intent and/or ability to sell the asset or transfer the liability at the measurement date. ASC Topic 820 requires the use of valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present value amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset, also known as current replacement cost. Valuation techniques used to measure fair value are to be consistently applied. In ASC Topic 820, inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable: • Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity. • Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. Valuation techniques used to measure fair value are intended to maximize the use of observable inputs and minimize the use of unobservable inputs. ASC Topic 820 establishes a fair value hierarchy that prioritizes the use of inputs used in valuation techniques into the following three levels: • Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. • Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability, or inputs that are derived principally from or corroborated by observable market data. • Level 3 inputs are unobservable inputs for the asset or liability. Unobservable inputs are to be used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date. In general, fair value is based upon quoted market prices, where available. If such quoted market prices are not available, fair value is based upon internally developed models that primarily use, as inputs, observable market-based parameters. The fair values of the Company’s investments are based upon prices provided by an independent pricing service. The Company has reviewed these prices for reasonableness and has not adjusted any prices received from the independent provider. Securities reported at fair value utilizing Level 1 inputs represent assets whose fair value is determined based upon observable unadjusted quoted market prices for identical assets in active markets. Level 2 securities represent assets whose fair value is determined using observable market information such as previous day trade prices, quotes from less active markets or quoted prices of securities with similar characteristics. There were no transfers between Level 1 and Level 2 during the year ended December 31, 2023. Assets measured at fair value on a recurring basis as of December 31, 2023 and 2022 are as follows: December 31, 2023 Level 1 Level 2 Level 3 Total Fair (in thousands) Financial instruments carried at fair value, Securities available-for-sale—fixed maturity: States and political subdivisions $ — $ 131,895 $ — $ 131,895 Corporate bonds — 166,753 — 166,753 U.S. agency-based mortgage-backed securities — 4,745 — 4,745 U.S. Treasury securities 13,671 — — 13,671 Total securities available-for-sale—fixed maturity 13,671 303,393 — 317,064 Equity securities: Domestic common stock 57,147 — — 57,147 Total $ 70,818 $ 303,393 $ — $ 374,211 December 31, 2022 Level 1 Level 2 Level 3 Total Fair (in thousands) Financial instruments carried at fair value, Securities available-for-sale—fixed maturity: States and political subdivisions $ — $ 156,656 $ — $ 156,656 Corporate bonds — 144,788 — 144,788 U.S. agency-based mortgage-backed securities — 5,446 — 5,446 U.S. Treasury securities 14,231 — — 14,231 Total securities available-for-sale—fixed maturity 14,231 306,890 — 321,121 Equity securities: Domestic common stock 62,058 — — 62,058 Total $ 76,289 $ 306,890 $ — $ 383,179 Assets measured at amortized cost net of allowance for credit losses as of December 31, 2023 and 2022 are as follows: December 31, 2023 Level 1 Level 2 Level 3 Total Fair (in thousands) Securities held-to-maturity—fixed maturity: States and political subdivisions $ — $ 408,970 $ — $ 408,970 Corporate bonds — 49,948 — 49,948 U.S. agency-based mortgage-backed securities — 3,199 — 3,199 U.S. Treasury securities 10,939 — — 10,939 Asset-backed securities — 36 — 36 Total held-to-maturity $ 10,939 $ 462,153 $ — $ 473,092 December 31, 2022 Level 1 Level 2 Level 3 Total Fair (in thousands) Securities held-to-maturity—fixed maturity: States and political subdivisions $ — $ 395,944 $ — $ 395,944 Corporate bonds — 55,851 — 55,851 U.S. agency-based mortgage-backed securities — 3,576 — 3,576 U.S. Treasury securities 12,706 — — 12,706 Obligations of U.S. government agencies — — — — Asset-backed securities — 67 — 67 Total held-to-maturity $ 12,706 $ 455,438 $ — $ 468,144 At December 31, 2023 and 2022, the Company did not hold any securities measured at fair value on a nonrecurring basis due to expected credit losses.

Capital Management

Capital Management	12 Months Ended
	Dec. 31, 2023
Text Block [Abstract]
Capital Management	19. Capital Management The Company’s Board of Directors initiated a share repurchase program in February 2010. In October 2016, the Board reauthorized this program with a limit of $ 25.0 million with no expiration date. There were 46,741 shares repurchased under this program in 2023 for $ 2.2 million, or an average price of $ 46.45 , including commissions and excise tax. There were 264,449 shares repurchased under this program in 2022 for $ 12.4 million, or an average price of $ 46.84 , including commissions. There were no shares repurchased under this program in 2021. Since the beginning of this plan, the Company has repurchased a total of 1,569,440 shares for $ 36.9 million, or an average price of $ 23.53 , including commissions and excise tax. In 2013, the Company’s Board of Directors initiated a regular quarterly dividend. During 2023, the Company’s Board of Directors declared a quarterly dividend of $ 0.34 per share compared to $ 0.31 per share in 2022, and $ 0.29 per share in 2021. The Company declared extraordinary dividends totaling $ 3.50 in 2023 and $ 4.00 in both 2022 and 2021.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	20. Subsequent Events On February 19, 2024 the Company declared a regular quarterly cash dividend of $ 0.37 per share payable on March 22, 2024 to shareholders of record as of March 8, 2024 . The Board considers the payment of a regular cash dividend each calendar quarter.

Schedule II. Condensed Financia

Schedule II. Condensed Financial Information of Registrant	12 Months Ended
	Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]
Schedule II. Condensed Financial Information of Registrant	Schedule II. Condensed Financ ial Information of Registrant AMERISAFE, INC. CONDENSED BALANCE SHEETS December 31, 2023 2022 (in thousands) Assets: Investments: Fixed maturity securities—available-for-sale, at fair value 24,309 and $ 19,824 in 2023 and 2022, respectively) $ 24,283 $ 19,470 Equity securities, at fair value (cost $ 7,108 and $ 10,007 in 2023 9,857 13,602 Short-term investments — 10,145 Investment in subsidiaries 249,159 239,664 Total investments 283,299 282,881 Cash and cash equivalents 6,635 31,911 Deferred income taxes 880 982 Notes receivable from subsidiaries 1,925 1,855 Property and equipment, net 1,933 2,736 Federal income tax recoverable 784 543 Other assets 1,099 1,752 Total assets $ 296,555 $ 322,660 Liabilities and shareholders’ equity Liabilities: Accounts payable and other liabilities 4,104 5,228 Total liabilities 4,104 5,228 Shareholders' equity (net of Treasury stock of $ 36,929 and $ 34,758 292,451 317,432 Total liabilities and shareholders' equity $ 296,555 $ 322,660 Schedule II. Condensed Financial Information of Registrant – (Continued) AMERISAFE, INC. CONDENSED STATEMENTS OF INCOME Year Ended December 31, 2023 2022 2021 (in thousands) Revenues Net investment income $ 4,861 $ 2,395 $ 896 Net unrealized gains (losses) on equity securities ( 845 ) ( 490 ) 2,590 Fee and other income 8,933 9,533 8,541 Total revenues 12,949 11,438 12,027 Expenses Other operating costs 8,932 9,533 8,541 Total expenses 8,932 9,533 8,541 Income before income taxes and equity in earnings of subsidiaries 4,017 1,905 3,486 Income tax expense (benefit) 1,055 714 ( 1,188 ) Gain before equity in earnings of subsidiaries 2,962 1,191 4,674 Equity in net income of subsidiaries 59,146 54,411 61,083 Net income $ 62,108 $ 55,602 $ 65,757 Schedule II. Condensed Financial Information of Registrant – (Continued) AMERISAFE, INC. CONDENSED STATEMENTS OF CASH FLOWS Year Ended December 31, 2023 2022 2021 (in thousands) Operating activities Net cash provided by operating activities $ 5,591 $ 6,121 $ 6,622 Investing activities Purchases of investments ( 24,885 ) ( 31,909 ) ( 87,289 ) Proceeds from sales of investments 35,013 75,950 28,780 Purchases of property and equipment ( 482 ) ( 1,903 ) ( 1,277 ) Dividends from subsidiary 56,000 77,700 148,400 Net cash provided by investing activities 65,646 119,838 88,614 Financing activities Finance lease purchases ( 91 ) ( 58 ) ( 44 ) Share-based compensation related tax withholding ( 944 ) — — Purchase of treasury stock ( 2,171 ) ( 12,388 ) — Dividends to shareholders ( 93,307 ) ( 100,427 ) ( 99,929 ) Net cash used in financing activities ( 96,513 ) ( 112,873 ) ( 99,973 ) Change in cash and cash equivalents ( 25,276 ) 13,086 ( 4,737 ) Cash and cash equivalents at beginning of year 31,911 18,825 23,562 Cash and cash equivalents at end of year $ 6,635 $ 31,911 $ 18,825

Schedule VI. Supplemental Infor

Schedule VI. Supplemental Information Concerning Property-Casualty Insurance Operations	12 Months Ended
	Dec. 31, 2023
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Abstract]
Schedule VI. Supplemental Information Concerning Property-Casualty Insurance Operations	Schedule VI. Supplemental Information Conce rning Property—Casualty Insurance Operations AMERISAFE, INC. AND SUBSIDIARIES Deferred Reserves Unearned Net Net Loss and Loss and Amortization Paid Claims Net (in thousands) 2023 $ 17,975 $ 673,994 $ 116,585 $ 267,125 $ 31,339 $ 189,659 $ ( 41,396 ) $ ( 40,859 ) $ 177,497 $ 268,734 2022 17,401 696,037 114,976 271,698 27,223 192,907 ( 40,591 ) ( 39,852 ) 194,846 265,583 2021 17,059 745,278 121,092 275,993 25,435 222,715 ( 61,917 ) ( 38,481 ) 189,640 267,825

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Organization	Organization AMERISAFE, Inc. is an insurance holding company incorporated in the state of Texas. The accompanying consolidated financial statements include the accounts of AMERISAFE and its subsidiaries: American Interstate Insurance Company (AIIC) and its insurance subsidiaries, Silver Oak Casualty, Inc. (SOCI) and American Interstate Insurance Company of Texas (AIICTX), Amerisafe Risk Services, Inc. (RISK) and Amerisafe General Agency, Inc. (AGAI). AIIC and SOCI are property and casualty insurance companies organized under the laws of the state of Nebraska. AIICTX is a property and casualty insurance company organized under the laws of the state of Texas. RISK, a wholly owned subsidiary of the Company, is a claims and safety service company currently servicing only affiliated insurance companies. AGAI, a wholly owned subsidiary of the Company, is a general agent for the Company. AGAI sells insurance, which is underwritten by AIIC, SOCI and AIICTX, as well as by nonaffiliated insurance carriers. The terms “AMERISAFE,” the “Company,” “we,” “us” or “our” refer to AMERISAFE, Inc. and its consolidated subsidiaries, as the context requires. The Company provides workers’ compensation insurance for small to mid-sized employers engaged in hazardous industries, principally construction, trucking, logging and lumber, agriculture, manufacturing, telecommunications, and maritime. Assets and revenues of AIIC and its subsidiaries represent at least 95 % of comparable consolidated amounts of the Company for each of 2023, 2022 and 2021 .
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP). The preparation of financial statements in accordance 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.
Adopted Accounting Guidance	Adopted Accounting Guidance The Company has not adopted any new accounting guidance in 2023.
Prospective Accounting Guidance	Prospective Accounting Guidance All other issued but not yet effective accounting and reporting standards as of December 31, 2023 are either not applicable to the Company or are not expected to have a material impact on the Company.
Investments	Investments The Company has the ability and positive intent to hold certain investments until maturity. Therefore, fixed maturity securities classified as held-to-maturity are recorded at amortized cost net of the allowance for credit losses. Fixed maturity securities classified as available-for-sale are recorded at fair value. Temporary changes in the fair value of these securities are reported in shareholders’ equity as a component of other comprehensive income, net of deferred income taxes. Changes in the fair value of equity securities are recorded in net income. Investment income is recognized as it is earned. The discount or premium on fixed maturity securities is amortized using the “constant yield” method. Anticipated prepayments, where applicable, are considered when determining the amortization of premiums or discounts. Realized investment gains and losses are determined using the specific identification method.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash equivalents include short-term money market funds with a maturity date, at the time of purchase , of 90 days or less.
Short-Term Investments	Short-Term Investments Short-term investments include municipal securities and corporate bonds with an original maturity date greater than 90 days but less than one year .
Premiums Receivable	Premiums Receivable Premiums receivable consist primarily of premium-related balances due from policyholders. The Company considers premiums receivable as past due based on the payment terms of the underlying policy. The balance is shown net of the allowance for credit losses. Receivables due from insureds are charged off when a determination has been made by management that a specific balance will not be collected. An estimate of amounts that are likely to be charged off is established as an allowance for credit losses as of the balance sheet date. The estimate is primarily comprised of specific balances that are considered probable to be charged off after all collection efforts have ceased, as well as historical trends and an analysis of the aging of the receivables.
Property and Equipment	Property and Equipment The Company’s property and equipment, including certain costs incurred to develop or obtain software for internal use, are stated at cost less accumulated depreciation. Depreciation is calculated primarily by the straight-line method over the estimated useful lives of the respective assets, generally 39 years for buildings and three to seven years for all other fixed assets.
Deferred Policy Acquisition Costs	Deferred Policy Acquisition Costs The direct costs of successfully acquiring and renewing business are capitalized to the extent recoverable and are amortized over the effective period of the related insurance policies in proportion to premium revenue earned. These capitalized costs consist mainly of sales commissions, premium taxes and other underwriting costs. The Company evaluates deferred policy acquisition costs for recoverability by comparing the unearned premiums to the estimated total expected claim costs and related expenses, offset by anticipated investment income. The Company would reduce the deferred costs if the unearned premiums were less than expected claims and expenses after considering investment income, and report any adjustments in amortization of deferred policy acquisition costs. There were no adjustments necessary in 2023, 2022 or 2021 .
Reserves for Loss and Loss Adjustment Expenses	Reserves for Loss and Loss Adjustment Expenses Reserves for loss and loss adjustment expenses represent the estimated ultimate cost of all reported and unreported losses incurred through December 31. The Company does not discount loss and loss adjustment expense reserves. In establishing our reserves for loss and loss adjustment expenses, we review the results of analyses using individual case-base valuations and statistical and actuarial methods that utilize historical loss data from our more than 38 years of underwriting workers’ compensation insurance. The actuarial analysis of our historical data provides the factors we use in estimating our loss reserves. These factors are primarily measures over time of the number of claims paid and reported, average paid and incurred claim amounts, claim closure rates and claim payment patterns. In evaluating the results of our analyses, management also uses substantial judgment in considering other factors that are not considered in these actuarial analyses, including changes in business mix, claims management, regulatory issues, medical trends, employment and wage patterns, insurance policy coverage interpretations, judicial determinations and other subjective factors. Due to the inherent uncertainty associated with these estimates, and the cost of incurred but unreported claims, our actual liabilities may vary significantly from our original estimates. Although considerable variability is inherent in these estimates, management believes that the reserves for loss and loss adjustment expenses are adequate. The estimates are continually reviewed and adjusted as necessary as experience develops or new information becomes known. Any such adjustments are included in income from current operations. Subrogation recoverables, as well as deductible recoverables from policyholders, are estimated using individual case-basis valuations and aggregate estimates. Deductibles that are recoverable from policyholders and other recoverables from state funds decrease the liability for loss and loss adjustment expenses. The Company funds its obligations under certain settled claims where the payment pattern and ultimate cost are fixed and determinable on an individual claim basis through the purchase of annuities. These annuities are purchased from unaffiliated carriers and name the claimant as payee. The cost of purchasing the annuity is recorded as paid loss and loss adjustment expenses. To the extent the annuity funds estimated future claims, reserves for loss and loss adjustment expense are reduced.
Premium Revenue	Premium Revenue Premiums on workers’ compensation insurance are based on actual payroll costs or production during the policy term and are normally billed monthly in arrears or annually. However, the Company generally requires a deposit at the inception of a policy. Premium revenue is earned on a pro rata basis over periods covered by the policies. The reserve for unearned premiums on these policies is computed on a daily pro rata basis. The Company estimates the annual premiums to be paid by its policyholders when the Company issues the policies and records those amounts on the balance sheet as premiums receivable. The Company conducts premium audits on all of its voluntary business policyholders annually, upon the expiration of each policy, including when the policy is renewed. The purpose of these audits is to verify that policyholders have accurately reported their payroll expenses and employee job classifications, and therefore have paid the Company the premium required under the terms of the policies. The difference between the estimated premium and the ultimate premium is referred to as “earned but unbilled” (EBUB) premium. EBUB premium can be higher or lower than the estimated premium. EBUB premium is subject to significant variability and can either increase or decrease earned premium based upon several factors, including changes in premium growth, industry mix and economic conditions. Due to the timing of audits and other adjustments, ultimate premium earned is generally not determined for several months after the expiration of the policy. The Company estimates EBUB premiums on a quarterly basis using historical data and applying various assumptions based on the current market and economic conditions, and records an adjustment to premium, related losses, and expenses as warranted.
Reinsurance	Reinsurance Reinsurance premiums, losses and allocated loss adjustment expenses are accounted for on a basis consistent with those used in accounting for the original policies issued and the terms of the reinsurance contracts. Amounts recoverable from reinsurers include balances currently owed to the Company for losses and allocated loss adjustment expenses that have been paid to policyholders, amounts that are currently reserved for and will be recoverable once the related expense has been paid and experience-rated commissions recoverable upon commutation. Upon management’s determination that an amount due from a reinsurer is uncollectible due to the reinsurer’s insolvency or other matters, the amount is written off. Ceding commissions are earned from certain reinsurance companies and are intended to reimburse the Company for policy acquisition costs related to those premiums ceded to the reinsurers. Ceding commission income is recognized over the effective period of the related insurance policies in proportion to premium revenue earned and is reflected as a reduction in underwriting and certain other operating costs. Experience-rated commissions are earned from certain reinsurance companies based on the financial results of the applicable risks ceded to the reinsurers. These commission revenues on reinsurance contracts are recognized during the related reinsurance treaty period and are based on the same assumptions used for recording loss and allocated loss adjustment expenses. These commissions are reflected as a reduction in underwriting and certain other operating costs and are adjusted as necessary as experience develops or new information becomes known. Any such adjustments are included in income from current operations. Experience-rated commissions decreased underwriting and certain other operating costs by $ 1.7 million in 2023 , $ 0.1 million in 2022 and $ 1.0 million in 2021.
Fee and Other Income	Fee and Other Income The Company recognizes income related to commissions earned by AGAI as the related services are performed.
Advertising	Advertising All advertising expenditures incurred by the Company are charged to expense in the period to which they relate and are included in underwriting and certain other operating costs in the consolidated statements of income. Total advertising expenses incurred were $ 0.2 million in 2023, 2022, and 2021 .
Income Taxes	Income Taxes The Company accounts for income taxes using the liability method. The provision for income taxes has two components, amounts currently payable or receivable and deferred amounts. Deferred income tax assets and liabilities are recognized for the differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred income tax assets and liabilities are measured using tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company considers deferred tax assets to be recoverable if it is probable that the related tax losses can be offset by future taxable income. The Company includes reversal of existing temporary differences, tax planning strategies available and future operating income in this assessment. To the extent the deferred tax assets exceed the amount expected to be recovered in future years, the Company records a valuation allowance for the amount determined unrecoverable.
Insurance-Related Assessments	Insurance-Related Assessments Insurance-related assessments are accrued in the period in which they have been incurred. The Company is subject to a variety of assessments related to insurance commerce, including those by state guaranty funds and workers’ compensation second-injury funds. State guaranty fund assessments are used by state insurance oversight agencies to cover losses of policyholders of insolvent or rehabilitated insurance companies and for the operating expenses of such agencies. Assessments based on premiums are generally paid one year after the calendar year in which the premium is written, while assessments based on losses are generally paid within one year of the calendar year in which the loss is paid.
Policyholder Dividends	Policyholder Dividends The Company writes certain policies for which the policyholder may participate in favorable claims experience through a dividend. An estimated provision for workers’ compensation policyholders’ dividends is accrued as the related premiums are earned. Dividends do not become a fixed liability unless and until declared by the respective Boards of Directors of AMERISAFE’s insurance subsidiaries. The dividend to which a policyholder may be entitled is set forth in the policy and is related to the amount of losses sustained under the policy. Dividends are calculated after the policy expiration. The Company is able to estimate the policyholder dividend liability because the Company has information regarding the underlying loss experience of the policies written with dividend provisions and can estimate future dividend payments from the policy terms.
Earnings Per Share	Earnings Per Share The Company computes earnings per share (EPS) in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 260, Earnings Per Share. The Company has no participating unvested common shares which contain nonforfeitable rights to dividends and applies the treasury stock method in computing basic and diluted earnings per share. Basic EPS is calculated by dividing net income by the weighted average number of common shares outstanding during the period. The diluted EPS calculation includes potential common shares assumed issued under the treasury stock method, which reflects the potential dilution that would occur if any outstanding options or warrants were exercised or restricted stock becomes vested.
Share-Based Compensation	Share-Based Compensation The Company recognizes the impact of its share-based compensation in accordance with FASB ASC Topic 718, Compensation-Stock Compensation. All share-based grants are recognized as compensation expense over the vesting period. The target value of long-term incentive awards are recognized as compensation over the performance period.

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2023
Gross Unrecognized Gains and Losses and Cost or Amortized Cost, Allowance for Credit Losses, Carrying Amount and Fair Value of Investments Classified as Held-to-Maturity (Detail)	The amortized cost, allowance for credit losses, carrying amount, gross unrecognized gains and losses, and the fair value of those investments classified as held-to-maturity at December 31, 2023 are summarized as follows: Amortized Allowance for Credit Losses Carrying Gross Gross Fair (in thousands) States and political subdivisions $ 416,916 $ ( 38 ) $ 416,878 $ 4,166 $ ( 12,074 ) $ 408,970 Corporate bonds 52,321 ( 142 ) 52,179 — ( 2,231 ) 49,948 U.S. agency-based mortgage-backed 3,297 — 3,297 25 ( 123 ) 3,199 U.S. Treasury securities and obligations 11,186 — 11,186 26 ( 273 ) 10,939 Asset-backed securities 37 ( 2 ) 35 1 — 36 Totals $ 483,757 $ ( 182 ) $ 483,575 $ 4,218 $ ( 14,701 ) $ 473,092 The amortized cost, allowance for credit losses, carrying amount, gross unrealized gains and losses, and the fair value of those investments classified as held-to-maturity at December 31, 2022 are summarized as follows: Amortized Allowance for Credit Losses Carrying Gross Gross Fair (in thousands) States and political subdivisions $ 415,136 $ ( 40 ) $ 415,096 $ 922 $ ( 20,074 ) $ 395,944 Corporate bonds 59,903 ( 196 ) 59,707 1 ( 3,857 ) 55,851 U.S. agency-based mortgage-backed 3,696 — 3,696 33 ( 153 ) 3,576 U.S. Treasury securities and obligations 13,123 — 13,123 25 ( 442 ) 12,706 Asset-backed securities 69 ( 3 ) 66 2 ( 1 ) 67 Totals $ 491,927 $ ( 239 ) $ 491,688 $ 983 $ ( 24,527 ) $ 468,144
Gross Unrealized Gains and Losses and Cost or Amortized Cost, Allowance for Credit Losses and Fair Value of Investments Classified as Available-for-sale	The amortized cost, gross unrealized gains and losses, fair value, and the allowance for credit losses of those investments classified as available-for-sale at December 31, 2023 are summarized as follows: Amortized Gross Gross Fair Allowance for Credit Losses (in thousands) States and political subdivisions $ 138,031 $ 583 $ ( 6,719 ) $ 131,895 $ — Corporate bonds 168,134 2,105 ( 3,486 ) 166,753 — U.S. agency-based mortgage-backed securities 5,190 — ( 445 ) 4,745 — U.S. Treasury securities and obligations 14,816 — ( 1,145 ) 13,671 — Totals $ 326,171 $ 2,688 $ ( 11,795 ) $ 317,064 $ — The amortized cost, gross unrealized gains and losses, fair value, and the allowance for credit losses of those investments classified as available-for-sale at December 31, 2022 are summarized as follows: Amortized Gross Gross Fair Allowance for Credit Losses (in thousands) States and political subdivisions $ 166,019 $ 463 $ ( 9,826 ) $ 156,656 $ — Corporate bonds 150,915 530 ( 6,657 ) 144,788 — U.S. agency-based mortgage-backed securities 5,984 — ( 538 ) 5,446 — U.S. Treasury securities and obligations 15,675 9 ( 1,453 ) 14,231 — Totals $ 338,593 $ 1,002 $ ( 18,474 ) $ 321,121 $ —
Gross Unrealized Gains and Losses and Cost of Equity	The cost, gross unrealized gains and losses, and the fair value of equity securities at December 31, 2023 are summarized as follows: Cost Gross Gross Fair (in thousands) Equity securities: Domestic common stock $ 44,046 $ 13,101 $ — $ 57,147 Total equity securities $ 44,046 $ 13,101 $ — $ 57,147 The cost, gross unrealized gains and losses on, and fair value of equity securities at December 31, 2022 are summarized as follows: Cost Gross Gross Fair (in thousands) Equity securities: Domestic common stock $ 50,185 $ 11,873 $ — $ 62,058 Total equity securities $ 50,185 $ 11,873 $ — $ 62,058
A Summary of the Company's Realized Gains and Losses on Sales, Calls or Redemptions of Investments	A summary of the Company’s realized gains and losses on sales, calls or redemptions of investments for 2023, 2022 and 2021 is as follows: Fixed Maturity Equity Other Total (in thousands) Year ended December 31, 2023 Proceeds from sales $ 28,292 $ 12,688 $ 925 $ 41,905 Gross realized investment gains $ 181 $ 6,548 $ — $ 6,729 Gross realized investment losses ( 173 ) — — ( 173 ) Net realized investment gains 8 6,548 — 6,556 Other, including gains on calls and redemptions — — 23 23 Net realized gains on investments $ 8 $ 6,548 $ 23 $ 6,579 Year ended December 31, 2022 Proceeds from sales $ 42,505 $ 8,487 $ — $ 50,992 Gross realized investment gains $ 365 $ 3,350 $ — $ 3,715 Gross realized investment losses ( 51 ) — — ( 51 ) Net realized investment gains 314 3,350 — 3,664 Other, including losses on calls and redemptions ( 200 ) — ( 24 ) ( 224 ) Net realized gains (losses) on investments $ 114 $ 3,350 $ ( 24 ) $ 3,440 Year ended December 31, 2021 Proceeds from sales $ 28,191 $ — $ 12,388 $ 40,579 Gross realized investment gains $ 1,751 $ — $ 3 $ 1,754 Gross realized investment losses ( 21 ) — — ( 21 ) Net realized investment gains 1,730 — 3 1,733 Other, including losses on calls and redemptions ( 6 ) — ( 32 ) ( 38 ) Net realized gains (losses) on investments $ 1,724 $ — $ ( 29 ) $ 1,695
Major Categories of the Company's Net Investment Income	Major categories of the Company’s net investment income are summarized as follows: Year Ended December 31, 2023 2022 2021 (in thousands) Gross investment income: Fixed maturity securities $ 26,357 $ 24,399 $ 24,882 Equity securities 1,456 1,566 1,236 Short-term investments and cash and cash equivalents 4,456 2,260 304 Total gross investment income 32,269 28,225 26,422 Investment expenses ( 930 ) ( 1,002 ) ( 987 ) Net investment income $ 31,339 $ 27,223 $ 25,435
Investment Securities Continuous Unrealized Loss Position	The following table summarizes the fair value and gross unrealized losses on fixed maturity securities classified as available-for-sale, aggregated by major investment category and length of time that the individual securities have been in a continuous unrealized loss position: Less Than 12 Months 12 Months or Greater Total Fair Value of Gross Fair Value of Gross Fair Value of Gross (in thousands) December 31, 2023 Available-for-Sale States and political subdivisions $ 14,115 $ 111 $ 72,358 $ 6,608 $ 86,473 $ 6,719 Corporate bonds 26,178 96 93,538 3,390 119,716 3,486 U.S. agency-based mortgage-backed — — 4,745 445 4,745 445 U.S. Treasury securities and — — 13,672 1,145 13,672 1,145 Total available-for-sale securities $ 40,293 $ 207 $ 184,313 $ 11,588 $ 224,606 $ 11,795 December 31, 2022 Available-for-Sale States and political subdivisions $ 87,522 $ 5,319 $ 24,980 $ 4,507 $ 112,502 $ 9,826 Corporate bonds 98,590 4,549 30,011 2,108 128,601 6,657 U.S. agency-based mortgage-backed 4,732 444 714 94 5,446 538 U.S. Treasury securities and 5,589 313 7,719 1,140 13,308 1,453 Total available-for-sale securities $ 196,433 $ 10,625 $ 63,424 $ 7,849 $ 259,857 $ 18,474
Changes in Allowance for Credit Losses by Major Security Type of Investments Classified as Held-to-Maturity	The following table illustrates the changes in the allowance for credit losses by major security type of the investments classified as held-to-maturity for the year ended December 31, 2023. States and Corporate U.S. Agency U.S. Asset-Backed Totals (in thousands) Balance at December 31, 2022 $ 40 $ 196 $ — $ — $ 3 $ 239 Provision for credit loss benefit ( 2 ) ( 54 ) — — ( 1 ) ( 57 ) Balance at December 31, 2023 $ 38 $ 142 $ — $ — $ 2 $ 182
Schedule of Amortized Cost Held-to-Maturity Securities Aggregated By Credit Quality Indicator	The table below presents the amortized cost of held-to-maturity securities aggregated by credit quality indicator as of December 31, 2023. States and Corporate U.S. Agency U.S. Asset-Backed Totals Amortized cost (in thousands) AAA/AA/A ratings $ 413,966 $ 22,696 $ 3,297 $ 11,186 $ 23 $ 451,168 Baa/BBB ratings 2,950 29,625 — — 14 32,589 B ratings — — — — — — Total $ 416,916 $ 52,321 $ 3,297 $ 11,186 $ 37 $ 483,757
Held-to-Maturity Securities [Member]
Summary of Carrying Amount, Amortized Cost and Fair Value of Investments in Fixed Maturity Securities, by Contractual Maturity	A summary of the carrying amounts and fair value of investments in fixed maturity securities classified as held-to-maturity, by contractual maturity, is as follows: December 31, 2023 December 31, 2022 Carrying Fair Carrying Fair (in thousands) Maturity: Within one year $ 64,129 $ 63,703 $ 41,878 $ 41,652 After one year through five years 136,854 131,396 165,216 159,006 After five years through ten years 114,990 110,814 121,739 112,665 After ten years 164,270 163,944 159,093 151,178 U.S. agency-based mortgage-backed securities 3,297 3,199 3,696 3,576 Asset-backed securities 35 36 66 67 Totals $ 483,575 $ 473,092 $ 491,688 $ 468,144
Available-for-Sale Securities [Member]
Summary of Carrying Amount, Amortized Cost and Fair Value of Investments in Fixed Maturity Securities, by Contractual Maturity	A summary of the amortized cost and fair value of investments in fixed maturity securities classified as available-for-sale, by contractual maturity, is as follows: December 31, 2023 December 31, 2022 Amortized Fair Amortized Fair (in thousands) Maturity: Within one year $ 25,995 $ 25,875 $ 28,290 $ 27,814 After one year through five years 106,178 102,201 68,876 65,406 After five years through ten years 82,664 80,911 102,296 95,366 After ten years 106,144 103,332 133,147 127,089 U.S. agency-based mortgage-backed securities 5,190 4,745 5,984 5,446 Totals $ 326,171 $ 317,064 $ 338,593 $ 321,121

Premiums Receivable (Tables)

Premiums Receivable (Tables)	12 Months Ended
	Dec. 31, 2023
Insurance [Abstract]
Components of Premiums Receivable	The components of premiums receivable are shown below: December 31, 2023 2022 (in thousands) Premiums receivable $ 137,535 $ 126,565 Allowance for credit losses ( 4,674 ) ( 4,852 ) Premiums receivable, net $ 132,861 $ 121,713
Summary of Activity in Allowance for Credit Losses	The following summarizes the activity in the allowance for credit losses on premiums receivable: December 31, 2023 2022 (in thousands) Balance, beginning of year $ 4,852 $ 4,386 Provision for credit loss expense 648 1,011 Write-offs ( 826 ) ( 545 ) Balance, end of year $ 4,674 $ 4,852

Deferred Policy Acquisition C_2

Deferred Policy Acquisition Costs (Tables)	12 Months Ended
	Dec. 31, 2023
Insurance [Abstract]
Schedule of Major Categories of the Deferred Policy Acquisition Costs	Major categories of the Company’s deferred policy acquisition costs are summarized as follows: December 31, 2023 2022 (in thousands) Agents’ commissions $ 12,955 $ 12,578 Premium taxes 2,672 2,587 Deferred underwriting expenses 2,348 2,236 Total deferred policy acquisition costs $ 17,975 $ 17,401
Schedule of the Activity in the Deferred Policy Acquisition Costs	The following summarizes the activity in the deferred policy acquisition costs: Year Ended December 31, 2023 2022 2021 (in thousands) Balance, beginning of year $ 17,401 $ 17,059 $ 17,810 Policy acquisition costs deferred 41,433 40,194 37,730 Amortization expense during the year ( 40,859 ) ( 39,852 ) ( 38,481 ) Balance, end of year $ 17,975 $ 17,401 $ 17,059

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consist of the following: December 31, 2023 2022 (in thousands) Land and office building $ 8,176 $ 8,108 Furniture and equipment 5,890 6,639 Software 9,333 9,258 Automobiles 74 74 Finance lease right-of-use assets 461 362 Total original cost 23,934 24,441 Accumulated depreciation and amortization ( 17,585 ) ( 17,216 ) Property and equipment, net $ 6,349 $ 7,225

Reinsurance (Tables)

Reinsurance (Tables)	12 Months Ended
	Dec. 31, 2023
Insurance [Abstract]
Schedule of the Effect of Reinsurance on Premiums Written and Earned	The effect of reinsurance on premiums written and earned in 2023, 2022 and 2021 was as follows: 2023 Premiums 2022 Premiums 2021 Premiums Written Earned Written Earned Written Earned (in thousands) Gross $ 285,355 $ 283,746 $ 276,110 $ 282,225 $ 278,294 $ 286,462 Ceded ( 16,621 ) ( 16,621 ) ( 10,527 ) ( 10,527 ) ( 10,469 ) ( 10,469 ) Net premiums $ 268,734 $ 267,125 $ 265,583 $ 271,698 $ 267,825 $ 275,993
Schedule of the Amounts Recoverable from Reinsurers	The amounts recoverable from reinsurers consist of the following: December 31, 2023 2022 (in thousands) Unpaid losses recoverable: Case basis $ 80,211 $ 81,273 Incurred but not reported 39,535 31,282 Paid losses recoverable 7,796 12,440 Experience-rated commissions recoverable 2,781 1,054 Allowance for credit losses ( 360 ) ( 372 ) Total $ 129,963 $ 125,677
Schedule of Unsecured Reinsurance Recoverables from Reinsurers	Reinsurer A.M. Best Amounts Recoverable as of December 31, 2023 (in thousands) Hannover Reinsurance Ireland Limited (1) A+ $ 65,045 Arch Reinsurance Company (1) A+ 19,694 Allianz Risk Transfer AG (Bermuda) A+ 9,084 Minnesota Workers' Compensation Reinsurance Association (1) NR 8,950 Munich Reinsurance America, Inc (1) A+ 5,542 Odyssey America Reinsurance Corporation A+ 4,961 Other reinsurers 17,047 Total amounts recoverable from reinsurers 130,323 Allowance for credit losses ( 360 ) Total amounts recoverable from reinsurers net of allowance for credit losses 129,963 Funds withheld and letters of credit related to the above recoverables ( 81,520 ) Total unsecured amounts recoverable from reinsurers $ 48,443 (1) Current participant in our 2024 reinsurance program.
Change in Allowance for Credit Losses on Amounts Recoverable from Reinsurers	The table below presents the change in the allowance for credit losses on amounts recoverable from reinsurers for the years ended December 31, 2023 and 2022. Year Ended December 31, 2023 2022 (in thousands) Balance, beginning of period $ 372 $ 440 Provision for credit loss expense (benefit) ( 12 ) ( 68 ) Balance, end of period $ 360 $ 372

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Company's Deferred Income Tax Assets and Liabilities	The Company’s deferred income tax assets and liabilities are as follows: December 31, 2023 2022 (in thousands) Deferred income tax assets: Discounting of net unpaid loss and loss adjustment expenses $ 15,035 $ 16,164 Unearned premiums 6,072 6,173 Accrued expenses and other 2,103 2,403 State income tax 2,495 2,468 Accrued policyholder dividends 1,723 1,841 Accrued insurance-related assessments 1,870 1,990 Net unrealized loss on securities — 1,182 Total deferred tax assets 29,298 32,221 Deferred income tax liabilities: Deferred policy acquisition costs ( 4,578 ) ( 4,391 ) Net unrealized gain on securities available-for-sale ( 839 ) — Property and equipment and other ( 365 ) ( 473 ) Salvage and subrogation ( 284 ) ( 320 ) Loss reserves adjustment ( 2,829 ) ( 4,243 ) Total deferred income tax liabilities ( 8,895 ) ( 9,427 ) Net deferred income taxes $ 20,403 $ 22,794
Components of Consolidated Income Tax Expense (Benefit)	The components of consolidated income tax expense (benefit) are as follows: Year Ended December 31, 2023 2022 2021 (in thousands) Current: Federal $ 13,621 $ 12,753 $ 11,368 State 1,020 427 1,055 14,641 13,180 12,423 Deferred: Federal 655 ( 802 ) 2,943 State ( 27 ) ( 334 ) ( 1,673 ) 628 ( 1,136 ) 1,270 Total $ 15,269 $ 12,044 $ 13,693
Income Tax Expense from Operations from the Amount Computed by Applying the U.S. Federal Income Tax Statutory Rate of 21% to Income Before Income Taxes	Income tax expense from operations is different from the amount computed by applying the U.S. federal income tax statutory rate of 21 % to income before income taxes as follows: Year Ended December 31, 2023 2022 2021 (in thousands) Income tax computed at federal statutory tax rate $ 16,249 $ 14,206 $ 16,684 Tax-exempt interest, net ( 1,997 ) ( 2,268 ) ( 2,511 ) State income tax 779 3 911 Dividends received deduction ( 125 ) ( 134 ) ( 107 ) Valuation allowance 46 ( 17 ) ( 1,803 ) Prior year adjustments 13 14 344 Other 304 240 175 $ 15,269 $ 12,044 $ 13,693

Loss and Loss Adjustment Expe_2

Loss and Loss Adjustment Expenses (Tables)	12 Months Ended
	Dec. 31, 2023
Insurance [Abstract]
Summary of Development Tables of Incurred and Paid Losses and Allocated Loss Adjustment Expenses Net of Reinsurance	Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance As of For the Years Ended December 31, December 31, 2023 (Dollars in thousands) Total IBNR Plus Expected Cumulative Development Number of Accident Unaudited (1) on Reported Claims Year 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Claims Reported 2014 $ 268,846 $ 268,846 $ 249,097 $ 235,058 $ 226,933 $ 218,386 $ 212,417 $ 210,811 $ 210,096 $ 209,210 $ 4,097 5,841 2015 — 262,573 262,573 252,514 235,471 220,965 211,758 207,929 207,086 205,556 4,374 5,517 2016 — — 250,491 250,491 241,406 218,005 209,214 202,820 201,604 198,566 4,691 5,394 2017 — — — 244,094 244,098 234,587 220,096 211,964 208,360 206,293 5,324 5,214 2018 — — — — 250,487 250,487 235,641 217,369 208,517 205,001 4,347 5,477 2019 — — — — — 241,344 241,344 227,246 214,123 206,109 5,672 5,223 2020 — — — — — — 220,710 220,710 214,500 207,047 13,909 4,391 2021 — — — — — — — 222,715 222,715 215,232 2,894 4,304 2022 — — — — — — — — 192,907 192,907 ( 12,814 ) 4,065 2023 — — — — — — — — — 189,659 12,433 3,715 Total $ 2,035,580 $ 44,927 Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance For the Years Ended December 31, (Dollars in thousands) Accident Unaudited (1) Claim Year 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Frequency (2) 2014 $ 53,060 $ 119,820 $ 153,320 $ 169,736 $ 180,683 $ 186,129 $ 191,394 $ 192,169 $ 193,192 $ 195,409 14.99 2015 — 54,141 121,599 151,818 170,461 182,053 185,657 188,145 189,339 190,588 14.25 2016 — — 52,238 115,713 143,016 156,860 166,887 172,133 174,134 178,572 14.23 2017 — — — 56,951 122,552 151,427 166,448 175,733 183,696 185,690 14.69 2018 — — — — 62,061 126,057 152,328 172,423 181,081 184,797 15.23 2019 — — — — — 58,884 120,512 154,391 168,448 176,488 15.28 2020 — — — — — — 50,113 109,882 137,411 153,974 13.95 2021 — — — — — — — 52,292 130,288 159,864 15.02 2022 — — — — — — — — 50,954 110,494 14.40 2023 — — — — — — — — — 47,207 13.09 Total 1,583,083 All outstanding liabilities before 2014, net of reinsurance 101,752 Liabilities for loss and loss adjustment expenses, net of reinsurance 554,248 (1) Data presented for these calendar years is required supplementary information, which is unaudited. (2) Frequency, as calculated above, refers to reported claims divided by gross premium earned.
Summary of Average Annual Percentage Payout of Incurred Losses by Age Net of Reinsurance for Worker's Compensation and General Liability	The average annual percentage payout of incurred losses by age, net of reinsurance, for workers’ compensation and general liability as of December 31, 2023 is summarized below. Since workers’ compensation has long payout periods, the table below shows less than 100% in the years disclosed. This is required supplementary information, which is unaudited. Average Annual Percentage Payout of Incurred Losses by Age, Net of Reinsurance (Unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 26.4 % 31.7 % 14.3 % 8.0 % 4.8 % 2.5 % 1.4 % 1.1 % 0.5 % 1.1 %
Reconciliation of Beginning and Ending Reserve Balances, Net of Related Amounts Recoverable from Reinsurers	The following table provides a reconciliation of the beginning and ending reserve balances, net of related amounts recoverable from reinsurers, for 2023, 2022 and 2021: Year Ended December 31, 2023 2022 2021 (in thousands) Balance, beginning of period $ 696,037 $ 745,278 $ 760,561 Less amounts recoverable from reinsurers 112,555 119,266 105,707 Net balance, beginning of period 583,482 626,012 654,854 Add incurred related to: Current accident year 189,659 192,907 222,715 Prior accident years ( 41,396 ) ( 40,591 ) ( 61,917 ) Total incurred 148,263 152,316 160,798 Less paid related to: Current accident year 47,207 50,954 52,292 Prior accident years 130,290 143,892 137,348 Total paid 177,497 194,846 189,640 Net balance, end of period 554,248 583,482 626,012 Add amounts recoverable from reinsurers 119,746 112,555 119,266 Balance, end of period $ 673,994 $ 696,037 $ 745,278
Summary Exposures to Various Asbestos Related Claims	The following table details our exposures to various asbestos related claims: Year Ended December 31, 2023 2022 2021 (in thousands) Reserves for loss and LAE at beginning of year $ 248 $ 260 $ 318 Incurred losses and LAE during the current year 15 ( 2 ) ( 44 ) Loss and LAE payments 47 ( 10 ) ( 14 ) Reserves for loss and LAE at end of year $ 310 $ 248 $ 260

Statutory Accounting and Regu_2

Statutory Accounting and Regulatory Requirements (Tables)	12 Months Ended
	Dec. 31, 2023
Insurance [Abstract]
Insurance Subsidiaries	Statutory-basis shareholders’ capital and surplus at December 31, 2023, 2022 and 2021 of the directly owned insurance subsidiary, AIIC, and the combined statutory-basis net income and realized investment gains for all AMERISAFE’s insurance subsidiaries for the three years in the period ended December 31, 2023, were as follows: 2023 2022 2021 (in thousands) Capital and surplus $ 254,856 $ 252,486 $ 277,789 Net income 56,637 59,810 53,094 Net realized gains on investments 5,470 3,692 1,695

Restricted Stock and Stock Op_2

Restricted Stock and Stock Options (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Restricted Stock Activity	The following table summarizes information about the common and restricted stock activity under the 2012 Incentive Plan: Shares Weighted Nonvested balance at January 1, 2021 15,314 60.23 Granted 27,388 64.36 Vested ( 29,881 ) 63.03 Forfeited — — Nonvested balance at December 31, 2021 12,821 62.52 Granted 42,021 48.08 Vested ( 44,311 ) 49.21 Forfeited — — Nonvested balance at December 31, 2022 10,531 60.92 Granted 18,561 52.35 Vested ( 21,887 ) 53.65 Forfeited ( 5,900 ) 50.97 Nonvested balance at December 31, 2023 1,305 55.18 The following table summarizes information about the restricted stock activity under the 2022 Incentive Plan: Shares Weighted Nonvested balance at January 1, 2021 — — Granted — — Vested — — Forfeited — — Nonvested balance at December 31, 2021 — — Granted 2,098 47.65 Vested — — Forfeited — — Nonvested balance at December 31, 2022 2,098 47.65 Granted — — Vested ( 419 ) 47.65 Forfeited — — Nonvested balance at December 31, 2023 1,679 47.65 The following table summarizes information about the restricted stock unit activity under the 2022 Incentive Plan: Shares Weighted Nonvested balance at January 1, 2021 — — Granted — — Vested — — Forfeited — — Nonvested balance at December 31, 2021 — — Granted 22,826 48.19 Vested — — Forfeited — — Nonvested balance at December 31, 2022 22,826 48.19 Granted 33,369 52.61 Vested ( 7,989 ) 48.19 Forfeited ( 987 ) 51.26 Nonvested balance at December 31, 2023 47,219 51.19 The following table summarizes information about the restricted stock activity under the Non-Employee Director Restricted Stock Plan: Shares Weighted Nonvested balance at January 1, 2021 5,068 69.03 Granted 5,607 62.40 Vested ( 5,068 ) 69.03 Forfeited — — Nonvested balance at December 31, 2021 5,607 62.40 Granted 12,149 50.41 Vested ( 5,868 ) 61.75 Forfeited — — Nonvested balance at December 31, 2022 11,888 50.47 Granted 9,856 53.26 Vested ( 10,402 ) 50.47 Forfeited ( 1,486 ) 55.08 Nonvested balance at December 31, 2023 9,856 53.26

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Calculation of Basic and Diluted Earnings Per Share	The calculation of basic and diluted EPS for the years ended December 31, 2023, 2022 and 2021 are presented below. For the Year Ended December 31, 2023 2022 2021 (in thousands, except earnings per share amounts) Basic EPS: Net income – basic $ 62,108 $ 55,602 $ 65,756 Basic weighted average common shares 19,149 19,233 19,332 Basic earnings per share $ 3.24 $ 2.89 $ 3.40 Diluted EPS: Net income – diluted $ 62,108 $ 55,602 $ 65,756 Diluted weighted average common shares: Weighted average common shares 19,149 19,233 19,332 Restricted stock and RSUs 77 89 77 Diluted weighted average common shares 19,226 19,322 19,409 Diluted earnings per common share $ 3.23 $ 2.88 $ 3.39
Reconciliation of Weighted Average Shares used for Basic and Diluted Earnings Per Share Calculation	The table below sets forth the reconciliation of the weighted average shares used for the basic and diluted EPS calculation. Years Ended 2023 2022 2021 Basic weighted average common shares 19,149,080 19,233,241 19,332,391 Add: Other common shares eligible for common dividends: Restricted stock and RSUs 76,941 88,476 76,228 Diluted weighted average common shares 19,226,021 19,321,717 19,408,619

Comprehensive Income and Accu_2

Comprehensive Income and Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income (AOCI)	The following table illustrates the changes in the balance of each component of accumulated other comprehensive income (loss) for each period presented in the financial statements. Year Ended December 31, 2023 2022 2021 (in thousands) Balance, beginning of period $ ( 13,828 ) $ 13,537 $ 21,019 Other comprehensive income (loss) before reclassification 6,202 ( 24,966 ) ( 5,289 ) Amounts reclassified from accumulated other 432 ( 2,399 ) ( 2,193 ) Net current period other comprehensive income (loss) 6,634 ( 27,365 ) ( 7,482 ) Balance, end of period $ ( 7,194 ) $ ( 13,828 ) $ 13,537
Reclassification Out of Accumulated Other Comprehensive Income	The effects of reclassifications out of accumulated other comprehensive income (loss) by the respective line items of net income are presented in the following table. Component of Accumulated Other Year Ended December 31, Affected line item in the statement 2023 2022 2021 (in thousands) Unrealized gains (losses) on available-for- $ ( 547 ) $ 3,037 $ 2,776 Net realized gains on ( 547 ) 3,037 2,776 Income before income taxes 115 ( 638 ) ( 583 ) Income tax expense $ ( 432 ) $ 2,399 $ 2,193 Net income
Other Comprehensive Income	Pre-Tax Tax Expense (Benefit) Net-of-Tax (in thousands) December 31, 2023 Unrealized gain on securities: Unrealized gain on available-for-sale securities $ 7,850 $ 1,648 $ 6,202 Reclassification adjustment for gains realized in net income 547 115 432 Net unrealized gain 8,397 1,763 6,634 Other comprehensive income $ 8,397 $ 1,763 $ 6,634 December 31, 2022 Unrealized loss on securities: Unrealized loss on available-for-sale securities $ ( 31,602 ) $ ( 6,636 ) $ ( 24,966 ) Reclassification adjustment for losses realized in net income ( 3,037 ) ( 638 ) ( 2,399 ) Net unrealized loss ( 34,639 ) ( 7,274 ) ( 27,365 ) Other comprehensive loss $ ( 34,639 ) $ ( 7,274 ) $ ( 27,365 ) December 31, 2021 Unrealized loss on securities: Unrealized loss on available-for-sale securities $ ( 6,695 ) $ ( 1,406 ) $ ( 5,289 ) Reclassification adjustment for losses realized in net income ( 2,776 ) ( 583 ) ( 2,193 ) Net unrealized loss ( 9,471 ) ( 1,989 ) ( 7,482 ) Other comprehensive loss $ ( 9,471 ) $ ( 1,989 ) $ ( 7,482 )

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Fair Value of Annuities	The following table summa rizes the fair value of the annuities at December 31, 2023, that the Company has purchased to satisfy its obligations. Life Insurance Company A.M. Best Statement Value (in thousands) Pacific Life Insurance Company A+ $ 20,961 Metropolitan Tower Life Insurance Company A+ 15,173 American General Life Insurance Company A 14,171 United of Omaha Life Insurance Company A+ 10,316 Brighthouse Financial Life Insurance Company A 9,039 New York Life Insurance Company A++ 8,271 Berkshire Hathaway Life Insurance Company of Nebraska A++ 7,226 John Hancock Life Insurance Company A+ 5,569 Athene Annuity and Life Company A 3,644 Protective Life Insurance Company A+ 3,514 Wilton Reassurance Company A+ 2,971 Other 6,041 $ 106,896
Components of Lease Expense	The components of lease expense were as follows: Year Ended December 31, 2023 2022 (in thousands) Operating lease cost $ 108 $ 103 Finance lease cost: Amortization of right-of-use assets 320 193 Interest on lease liabilities 8 9 Total finance lease cost $ 328 $ 202
Schedule of Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases was as follows: Year Ended December 31, 2023 2022 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ ( 77 ) $ ( 87 ) Operating cash flows from finance leases 8 9 Financing cash flows from finance leases 91 58
Schedule of Right-of-use Assets Obtained in Exchange for Lease Obligations	Right-of-use assets obtained in the exchange for the lease obligations wer e as follows: December 31, 2023 2022 (in thousands) Operating leases $ 26 $ 45 Finance leases 99 122
Schedule of Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases wa s as follows: December 31, 2023 December 31, 2022 Balance Sheet Classification (in thousands) Operating leases: Operating lease right-of-use assets $ 29 $ 106 Other assets Operating lease liabilities $ 29 $ 106 Accounts payable and other liabilities Finance leases: Finance lease right-of-use assets $ 462 $ 362 Finance lease accumulated amortization ( 320 ) ( 193 ) Property and equipment, net $ 142 $ 169 Property and equipment, net Finance lease liabilities $ 238 $ 230 Accounts payable and other liabilities
Schedule of Weighted Average Remaining Lease Term and Discount Rate	December 31, 2023 2022 Weighted average remaining lease term: Operating leases 0.7 years 1.2 years Finance leases 2.9 years 3.0 years Weighted average discount rate: Operating leases 6.66 % 1.59 % Finance leases 5.52 % 3.33 %
Schedule of Maturity Analysis of Annual Undiscounted Cash Flows of Operating and Finance Lease Liabilities	The following is a ma turity analysis of the annual undiscounted cash flows of the operating and finance lease liabilities as of December 31, 2023: Operating Leases Finance Leases (in thousands) 2024 $ 29 $ 97 2025 1 93 2026 — 49 2027 — 22 2028 — — Total lease payments 30 261 Less imputed interest 1 23 Total $ 29 $ 238

Concentration of Operations (Ta

Concentration of Operations (Tables)	12 Months Ended
	Dec. 31, 2023
Concentration Of Operations [Abstract]
Net Premiums Earned for the Top Ten States	Net premiums earned during 2023, 2022 and 2021 for the top ten states in 2023 and all others are shown below: 2023 2022 2021 Dollars Percent Dollars Percent Dollars Percent (Dollars in thousands) Florida $ 33,838 12.7 % $ 31,955 11.8 % $ 31,514 11.4 % Georgia 30,504 11.4 % 30,831 11.3 % 34,772 12.6 % Louisiana 21,150 7.9 % 21,804 8.0 % 20,476 7.4 % Pennsylvania 19,963 7.5 % 21,017 7.7 % 19,574 7.1 % North Carolina 16,432 6.2 % 17,883 6.6 % 15,964 5.8 % Illinois 13,072 4.9 % 12,209 4.5 % 13,680 5.0 % Wisconsin 11,724 4.4 % 12,007 4.4 % 13,108 4.7 % Virginia 10,400 3.8 % 11,537 4.3 % 12,579 4.6 % South Carolina 9,050 3.4 % 9,808 3.6 % 9,186 3.3 % Minnesota 8,845 3.3 % 9,827 3.6 % 10,612 3.8 % All others 92,147 34.5 % 92,820 34.2 % 94,528 34.3 % Total net premiums earned $ 267,125 100.0 % $ 271,698 100.0 % $ 275,993 100.0 %

Fair Values of Financial Inst_2

Fair Values of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Summary of Carrying or Reported Values and Corresponding Fair Values for Financial Instruments	The following table summarizes the carrying or reported values and corresponding fair values for financial instruments: December 31, 2023 2022 Carrying Fair Carrying Fair (in thousands) Assets: Fixed maturity securities—held-to-maturity $ 483,575 $ 473,092 $ 491,688 $ 468,144 Fixed maturity securities—available-for-sale 317,064 317,064 321,121 321,121 Equity securities 57,147 57,147 62,058 62,058 Short-term investments — — 14,120 14,120 Cash and cash equivalents 38,682 38,682 61,469 61,469
Schedule of Assets Measured at Fair Value on Recurring Basis	Assets measured at fair value on a recurring basis as of December 31, 2023 and 2022 are as follows: December 31, 2023 Level 1 Level 2 Level 3 Total Fair (in thousands) Financial instruments carried at fair value, Securities available-for-sale—fixed maturity: States and political subdivisions $ — $ 131,895 $ — $ 131,895 Corporate bonds — 166,753 — 166,753 U.S. agency-based mortgage-backed securities — 4,745 — 4,745 U.S. Treasury securities 13,671 — — 13,671 Total securities available-for-sale—fixed maturity 13,671 303,393 — 317,064 Equity securities: Domestic common stock 57,147 — — 57,147 Total $ 70,818 $ 303,393 $ — $ 374,211 December 31, 2022 Level 1 Level 2 Level 3 Total Fair (in thousands) Financial instruments carried at fair value, Securities available-for-sale—fixed maturity: States and political subdivisions $ — $ 156,656 $ — $ 156,656 Corporate bonds — 144,788 — 144,788 U.S. agency-based mortgage-backed securities — 5,446 — 5,446 U.S. Treasury securities 14,231 — — 14,231 Total securities available-for-sale—fixed maturity 14,231 306,890 — 321,121 Equity securities: Domestic common stock 62,058 — — 62,058 Total $ 76,289 $ 306,890 $ — $ 383,179
Schedule of Assets Measured at Amortized Cost	Assets measured at amortized cost net of allowance for credit losses as of December 31, 2023 and 2022 are as follows: December 31, 2023 Level 1 Level 2 Level 3 Total Fair (in thousands) Securities held-to-maturity—fixed maturity: States and political subdivisions $ — $ 408,970 $ — $ 408,970 Corporate bonds — 49,948 — 49,948 U.S. agency-based mortgage-backed securities — 3,199 — 3,199 U.S. Treasury securities 10,939 — — 10,939 Asset-backed securities — 36 — 36 Total held-to-maturity $ 10,939 $ 462,153 $ — $ 473,092 December 31, 2022 Level 1 Level 2 Level 3 Total Fair (in thousands) Securities held-to-maturity—fixed maturity: States and political subdivisions $ — $ 395,944 $ — $ 395,944 Corporate bonds — 55,851 — 55,851 U.S. agency-based mortgage-backed securities — 3,576 — 3,576 U.S. Treasury securities 12,706 — — 12,706 Obligations of U.S. government agencies — — — — Asset-backed securities — 67 — 67 Total held-to-maturity $ 12,706 $ 455,438 $ — $ 468,144

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Percentage of comparable consolidated amounts	95%	95%	95%
Right-of-use assets	$ 29,000	$ 106,000
Operating lease liabilities	29,000	106,000
Net decrease to retained earnings, cumulative effect	(114,289,000)	(145,512,000)
Credit allowance for held-to-maturity fixed income securities	182,000	239,000
Credit allowance for reinsurance recoverables	360,000	372,000
Available-for-sale securities, credit allowance	$ 0	0
Original maturity of cash equivalent	90 days
Minimum period of underwriting workers? compensation insurance from which historical loss data utilize	38 years
Experience rated commission and other operating costs	$ 1,700,000	100,000	$ 1,000,000
Advertising expense	$ 200,000	$ 200,000	$ 200,000
Assessment Related premium Payment period	1 year
Assessment Related loss Payment period	1 year
Buildings [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Estimated useful life of assets	39 years
Maximum [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Short-term investments maturity period	1 year
Maximum [Member] | Other Fixed Assets [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Estimated useful life of assets	7 years
Minimum [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Short-term investments maturity period	90 days
Minimum [Member] | Other Fixed Assets [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Estimated useful life of assets	3 years
Corporate Fixed Income Securities [Member] | Maximum [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Investments maturity period using default rate	20 years

Investments - Additional Inform

Investments - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2023 USD ($) Security	Dec. 31, 2022 USD ($)
Marketable Securities [Line Items]
Short-term investments	$ 0
Individual fixed maturity held in unrealized loss position | Security	156
Individual fixed maturity held in unrealized loss position longer than 12 months | Security	134
Number of fixed maturity securities, allowance for credit loss | Security	471
Fixed maturity securities, available-for-sale, allowance for credit losses	$ 0	$ 0
Fixed maturity securities, held-to-maturity, allowance for credit losses	182,000	239,000
Held-to-Maturity Securities [Member]
Marketable Securities [Line Items]
Investments on deposit with regulatory agencies	24,400,000
Corporate Bonds [Member]
Marketable Securities [Line Items]
Short-term investments		9,900,000
Fixed maturity securities, held-to-maturity, allowance for credit losses	$ 142,000	196,000
Number of majority securities | Security	451
States and Political Subdivisions [Member]
Marketable Securities [Line Items]
Short-term investments		1,200,000
Fixed maturity securities, held-to-maturity, allowance for credit losses	$ 38,000	40,000
Number of majority securities | Security	17
U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member]
Marketable Securities [Line Items]
Short-term investments		$ 3,000,000
Corporate Fixed Income Securities [Member] | Maximum [Member]
Marketable Securities [Line Items]
Investments maturity period using default rate	20 years

Investments - Gross Unrecognize

Investments - Gross Unrecognized Gains and Losses and Cost or Amortized Cost, Allowance for Credit Losses, Carrying Amount and Fair Value of Investments Classified as Held-to-Maturity (Detail) (Detail) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Schedule Of Held To Maturity Securities [Line Items]
Held-to-maturity, Amortized Cost, Totals	$ 483,757,000	$ 491,927,000
Held-to-Maturity, Allowance for Credit Losses	(182,000)	(239,000)
Held-to-Maturity, Carrying Amount	483,575,000	491,688,000
Held-to-Maturity, Gross Unrecognized Gains	4,218,000	983,000
Held-to-Maturity, Gross Unrecognized Losses	(14,701,000)	(24,527,000)
Securities held-to-maturity-fixed maturity, Fair Value	$ 473,092,000	$ 468,144,000
Investment, Type [Extensible Enumeration]	U.S. Agency-Based Mortgage-Backed Securities [Member]	U.S. Agency-Based Mortgage-Backed Securities [Member]
States and Political Subdivisions [Member]
Schedule Of Held To Maturity Securities [Line Items]
Held-to-maturity, Amortized Cost, Totals	$ 416,916,000	$ 415,136,000
Held-to-Maturity, Allowance for Credit Losses	(38,000)	(40,000)
Held-to-Maturity, Carrying Amount	416,878,000	415,096,000
Held-to-Maturity, Gross Unrecognized Gains	4,166,000	922,000
Held-to-Maturity, Gross Unrecognized Losses	(12,074,000)	(20,074,000)
Securities held-to-maturity-fixed maturity, Fair Value	408,970,000	395,944,000
Corporate Bonds [Member]
Schedule Of Held To Maturity Securities [Line Items]
Held-to-maturity, Amortized Cost, Totals	52,321,000	59,903,000
Held-to-Maturity, Allowance for Credit Losses	(142,000)	(196,000)
Held-to-Maturity, Carrying Amount	52,179,000	59,707,000
Held-to-Maturity, Gross Unrecognized Gains		1,000
Held-to-Maturity, Gross Unrecognized Losses	(2,231,000)	(3,857,000)
Securities held-to-maturity-fixed maturity, Fair Value	49,948,000	55,851,000
U.S. Agency-Based Mortgage-Backed Securities [Member]
Schedule Of Held To Maturity Securities [Line Items]
Held-to-maturity, Amortized Cost, Totals	3,297,000	3,696,000
Held-to-Maturity, Carrying Amount	3,297,000	3,696,000
Held-to-Maturity, Gross Unrecognized Gains	25,000	33,000
Held-to-Maturity, Gross Unrecognized Losses	(123,000)	(153,000)
Securities held-to-maturity-fixed maturity, Fair Value	3,199,000	3,576,000
U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member]
Schedule Of Held To Maturity Securities [Line Items]
Held-to-maturity, Amortized Cost, Totals	11,186,000	13,123,000
Held-to-Maturity, Carrying Amount	11,186,000	13,123,000
Held-to-Maturity, Gross Unrecognized Gains	26,000	25,000
Held-to-Maturity, Gross Unrecognized Losses	(273,000)	(442)
Securities held-to-maturity-fixed maturity, Fair Value	10,939,000	12,706,000
Asset-Backed Securities [Member]
Schedule Of Held To Maturity Securities [Line Items]
Held-to-maturity, Amortized Cost, Totals	37,000	69,000
Held-to-Maturity, Allowance for Credit Losses	(2,000)	(3,000)
Held-to-Maturity, Carrying Amount	35,000	66,000
Held-to-Maturity, Gross Unrecognized Gains	1,000	2,000
Held-to-Maturity, Gross Unrecognized Losses		(1,000)
Securities held-to-maturity-fixed maturity, Fair Value	$ 36,000	$ 67,000

Investments - Gross Unrealized

Investments - Gross Unrealized Gains and Losses and Cost or Amortized Cost, Allowance for Credit Losses and Fair Value of Investments Classified as Available-for-sale (Detail) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Schedule Of Available For Sale Securities [Line Items]
Available-for-sale, Amortized Cost	$ 326,171,000	$ 338,593,000
Available-for-sale, Gross Unrealized Gains	2,688,000	1,002,000
Available-for-sale, Gross Unrealized Losses	(11,795,000)	(18,474,000)
Available-for-sale fixed maturity, Fair Value	317,064,000	321,121,000
Available-for-sale securities, credit allowance	0	0
Fixed maturity securities, available-for-sale, allowance for credit losses	0	0
States and Political Subdivisions [Member]
Schedule Of Available For Sale Securities [Line Items]
Available-for-sale, Amortized Cost	138,031,000	166,019,000
Available-for-sale, Gross Unrealized Gains	583,000	463,000
Available-for-sale, Gross Unrealized Losses	(6,719,000)	(9,826,000)
Available-for-sale fixed maturity, Fair Value	131,895,000	156,656,000
Corporate Bonds [Member]
Schedule Of Available For Sale Securities [Line Items]
Available-for-sale, Amortized Cost	168,134,000	150,915,000
Available-for-sale, Gross Unrealized Gains	2,105,000	530,000
Available-for-sale, Gross Unrealized Losses	(3,486,000)	(6,657,000)
Available-for-sale fixed maturity, Fair Value	166,753,000	144,788,000
U.S. Agency-Based Mortgage-Backed Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Available-for-sale, Amortized Cost	5,190,000	5,984,000
Available-for-sale, Gross Unrealized Gains		0
Available-for-sale, Gross Unrealized Losses	(445,000)	(538,000)
Available-for-sale fixed maturity, Fair Value	4,745,000	5,446,000
U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member]
Schedule Of Available For Sale Securities [Line Items]
Available-for-sale, Amortized Cost	14,816,000	15,675,000
Available-for-sale, Gross Unrealized Gains		9,000
Available-for-sale, Gross Unrealized Losses	(1,145,000)	(1,453,000)
Available-for-sale fixed maturity, Fair Value	$ 13,671,000	$ 14,231,000

Investments - Gross Unrealize_2

Investments - Gross Unrealized Gains and Losses and Cost of Equity (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Equity securities, Cost	$ 44,046	$ 50,185
Equity securities, Gross Unrealized Gains	13,101	11,873
Equity securities	$ 57,147	$ 62,058

Investments - Summary of Carryi

Investments - Summary of Carrying Amounts and Fair Value of Investments in Fixed Maturity Securities, Classified as Held-to-Maturity (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule Of Held To Maturity Securities [Line Items]
Within one year, Carrying Amount	$ 64,129	$ 41,878
After one year through five years, Carrying Amount	136,854	165,216
After five years through ten years, Carrying Amount	114,990	121,739
After ten years, Carrying Amount	164,270	159,093
Held-to-maturity, Carrying Amount, Totals	483,575	491,688
Within one year, Fair Value	63,703	41,652
After one year through five years, Fair Value	131,396	159,006
After five years through ten years, Fair Value	110,814	112,665
After ten years, Fair Value	163,944	151,178
Held-to-maturity, Fair Value, Totals	473,092	468,144
U.S. Agency-Based Mortgage-Backed Securities [Member]
Schedule Of Held To Maturity Securities [Line Items]
Without single maturity, Carrying Amount	3,297	3,696
Held-to-maturity, Carrying Amount, Totals	3,297	3,696
Without single maturity, Fair Value	3,199	3,576
Held-to-maturity, Fair Value, Totals	3,199	3,576
Asset-Backed Securities [Member]
Schedule Of Held To Maturity Securities [Line Items]
Without single maturity, Carrying Amount	35	66
Held-to-maturity, Carrying Amount, Totals	35	66
Without single maturity, Fair Value	36	67
Held-to-maturity, Fair Value, Totals	$ 36	$ 67

Investments - Summary of Amorti

Investments - Summary of Amortized Cost and Fair Value of Investments in Fixed Maturity Securities, Classified as Available-for-Sale (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule Of Available For Sale Securities [Line Items]
Within one year, Amortized Cost	$ 25,995	$ 28,290
After one year through five years, Amortized Cost	106,178	68,876
After five years through ten years, Amortized Cost	82,664	102,296
After ten years, Amortized Cost	106,144	133,147
Without single maturity date, Amortized Cost	$ 5,190	$ 5,984
Investment, Type [Extensible Enumeration]	Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member]	Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member]
Available-for-sale, Amortized Cost	$ 326,171	$ 338,593
Within one year, Fair Value	25,875	27,814
After one year through five years, Fair Value	102,201	65,406
After five years through ten years, Fair Value	80,911	95,366
After ten years, Fair Value	103,332	127,089
Without single maturity date, Fair value	4,745	5,446
Available-for-sale, Fair Value	$ 317,064	$ 321,121

Investments - A Summary of the

Investments - A Summary of the Company's Realized Gains and Losses on Sales, Calls or Redemptions of Investments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Marketable Securities [Line Items]
Proceeds from sales	$ 41,905	$ 50,992	$ 40,579
Gross realized investment gains	6,729	3,715	1,754
Gross realized investment (losses)	(173)	(51)	(21)
Net realized investment gains (losses)	6,556	3,664	1,733
Other, including gains (losses) on calls and redemptions	23	(224)	(38)
Net realized gains (losses) on investments	6,579	3,440	1,695
Fixed Maturity Securities Available for Sale [Member]
Marketable Securities [Line Items]
Proceeds from sales	28,292	42,505	28,191
Gross realized investment gains	181	365	1,751
Gross realized investment (losses)	(173)	(51)	(21)
Net realized investment gains (losses)	8	314	1,730
Other, including gains (losses) on calls and redemptions		(200)	(6)
Net realized gains (losses) on investments	8	(114)	1,724
Equity Securities [Member]
Marketable Securities [Line Items]
Proceeds from sales	12,688	8,487
Gross realized investment gains	6,548	3,350
Net realized investment gains (losses)	6,548	3,350
Net realized gains (losses) on investments	6,548	3,350
Other [Member]
Marketable Securities [Line Items]
Proceeds from sales	925		12,388
Gross realized investment gains			3
Net realized investment gains (losses)			3
Other, including gains (losses) on calls and redemptions	23	24	(32)
Net realized gains (losses) on investments	$ 23	$ 24	$ (29)

Investments - Major Categories

Investments - Major Categories of the Company's Net Investment Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Total gross investment income	$ 32,269	$ 28,225	$ 26,422
Investment expenses	(930)	(1,002)	(987)
Net investment income	31,339	27,223	25,435
Fixed Maturity Securities Available for Sale [Member]
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Total gross investment income	26,357	24,399	24,882
Equity Securities [Member]
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Total gross investment income	1,456	1,566	1,236
Short-term Investments [Member]
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Total gross investment income	$ 4,456	$ 2,260	$ 304

Investments - Investment Securi

Investments - Investment Securities Continuous Unrealized Loss Position (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Marketable Securities [Line Items]
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 207	$ 10,625
Held-to-Maturity, Gross Unrealized Losses, Total	11,795	18,474
Available-for Sale, Fair value of Investments with Unrealized Losses, Less Than 12 Months	40,293	196,433
Available-for Sale, Gross Unrealized Losses, Less Than 12 Months	207	10,625
Available-for Sale, Fair Value of Investments with Unrealized Losses, 12 Months or Greater	184,313	63,424
Available-for Sale, Gross Unrealized Losses, 12 Months or Greater	11,588	7,849
Available-for Sale, Fair Value of Investments with Unrealized Losses, Total	224,606	259,857
Corporate Bonds [Member]
Marketable Securities [Line Items]
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	96	4,549
Held-to-Maturity, Gross Unrealized Losses, Total	3,486	6,657
Available-for Sale, Fair value of Investments with Unrealized Losses, Less Than 12 Months	26,178	98,590
Available-for Sale, Gross Unrealized Losses, Less Than 12 Months	96	4,549
Available-for Sale, Fair Value of Investments with Unrealized Losses, 12 Months or Greater	93,538	30,011
Available-for Sale, Gross Unrealized Losses, 12 Months or Greater	3,390	2,108
Available-for Sale, Fair Value of Investments with Unrealized Losses, Total	119,716	128,601
U.S. Agency-Based Mortgage-Backed Securities [Member]
Marketable Securities [Line Items]
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss		444
Held-to-Maturity, Gross Unrealized Losses, Total	445	538
Available-for Sale, Fair value of Investments with Unrealized Losses, Less Than 12 Months		4,732
Available-for Sale, Gross Unrealized Losses, Less Than 12 Months		444
Available-for Sale, Fair Value of Investments with Unrealized Losses, 12 Months or Greater	4,745	714
Available-for Sale, Gross Unrealized Losses, 12 Months or Greater	445	94
Available-for Sale, Fair Value of Investments with Unrealized Losses, Total	4,745	5,446
States and Political Subdivisions [Member]
Marketable Securities [Line Items]
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	111	5,319
Held-to-Maturity, Gross Unrealized Losses, Total	6,719	9,826
Available-for Sale, Fair value of Investments with Unrealized Losses, Less Than 12 Months	14,115	87,522
Available-for Sale, Gross Unrealized Losses, Less Than 12 Months	111	5,319
Available-for Sale, Fair Value of Investments with Unrealized Losses, 12 Months or Greater	72,358	24,980
Available-for Sale, Gross Unrealized Losses, 12 Months or Greater	6,608	4,507
Available-for Sale, Fair Value of Investments with Unrealized Losses, Total	86,473	112,502
U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member]
Marketable Securities [Line Items]
Held-to-Maturity, Gross Unrealized Losses, Less Than 12 Months		313
Held-to-Maturity, Gross Unrealized Losses, Total	1,145	1,453
Available-for Sale, Fair value of Investments with Unrealized Losses, Less Than 12 Months		5,589
Available-for Sale, Fair Value of Investments with Unrealized Losses, 12 Months or Greater	13,672	7,719
Available-for Sale, Gross Unrealized Losses, 12 Months or Greater	1,145	1,140
Available-for Sale, Fair Value of Investments with Unrealized Losses, Total	$ 13,672	$ 13,308

Investments - Investments - Cha

Investments - Investments - Changes in Allowance for Credit Losses by Major Security Type of Investments Classified as Held-to-Maturity (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Balance	$ 239
Provision for credit loss expense (benefit)	(57)
Balance	182
Amortized cost	483,757
AAA/AA/A Ratings [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Amortized cost	451,168
Baa/BBB Ratings [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Amortized cost	32,589
States and Political Subdivisions [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Balance	40
Provision for credit loss expense (benefit)	(2)
Balance	38
Amortized cost	416,916
States and Political Subdivisions [Member] | AAA/AA/A Ratings [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Amortized cost	413,966
States and Political Subdivisions [Member] | Baa/BBB Ratings [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Amortized cost	2,950
Corporate Bonds [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Balance	196
Provision for credit loss expense (benefit)	(54)
Balance	142
Amortized cost	52,321
Corporate Bonds [Member] | AAA/AA/A Ratings [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Amortized cost	22,696
Corporate Bonds [Member] | Baa/BBB Ratings [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Amortized cost	29,625
U.S. Agency-Based Mortgage-Backed Securities [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Amortized cost	3,297
U.S. Agency-Based Mortgage-Backed Securities [Member] | AAA/AA/A Ratings [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Amortized cost	3,297
U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Amortized cost	11,186
U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member] | AAA/AA/A Ratings [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Amortized cost	11,186
Asset-Backed Securities [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Balance	3
Provision for credit loss expense (benefit)	(1)
Balance	2
Amortized cost	37
Asset-Backed Securities [Member] | AAA/AA/A Ratings [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Amortized cost	23
Asset-Backed Securities [Member] | Baa/BBB Ratings [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Amortized cost	$ 14

Premiums Receivable - Component

Premiums Receivable - Components of Premiums Receivable (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Premiums Receivable, Net [Abstract]
Premiums receivable	$ 137,535	$ 126,565
Allowance for credit losses	(4,674)	(4,852)	$ (4,386)
Premiums receivable, net	$ 132,861	$ 121,713

Premiums Receivable - Summary o

Premiums Receivable - Summary of Activity in Allowance for Credit Losses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Premiums Receivable, Allowance for Doubtful Accounts [Roll Forward]
Balance, beginning of year	$ 4,852	$ 4,386
Provision for credit loss expense	648	1,011
Write-offs	(826)	(545)
Balance, end of year	$ 4,674	$ 4,852

Premiums Receivable - Additiona

Premiums Receivable - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Premiums Receivable, Net [Abstract]
Earned but Unbilled	$ 9.9	$ 8.6	$ 7.9

Deferred Policy Acquisition C_3

Deferred Policy Acquisition Costs - Schedule of Major Categories of the Deferred Policy Acquisition Costs (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred Charges, Insurers [Abstract]
Agents’ commissions	$ 12,955	$ 12,578
Premium taxes	2,672	2,587
Deferred underwriting expenses	2,348	2,236
Total deferred policy acquisition costs	$ 17,975	$ 17,401	$ 17,059	$ 17,810

Deferred Policy Acquisition C_4

Deferred Policy Acquisition Costs - Schedule of Activity in the Deferred Policy Acquisition Costs (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of year	$ 17,401	$ 17,059	$ 17,810
Policy acquisition costs deferred	41,433	40,194	37,730
Amortization expense during the year	(40,859)	(39,852)	(38,481)
Balance, end of year	$ 17,975	$ 17,401	$ 17,059

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	$ 23,934	$ 24,441
Accumulated depreciation and amortization	(17,585)	(17,216)
Property and equipment, net	6,349	7,225
Land and Office Building [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	8,176	8,108
Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	5,890	6,639
Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	9,333	9,258
Automobiles [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	74	74
Finance Lease Right-of-use Assets [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	$ 461	$ 362

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Accumulated depreciation	$ 17,585	$ 17,216
Equipment
Property, Plant and Equipment [Line Items]
Accumulated depreciation	$ 300	$ 200

Reinsurance - Schedule of the E

Reinsurance - Schedule of the Effect of Reinsurance on Premiums Written and Earned (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Premiums Written and Earned [Abstract]
Gross Written	$ 285,355	$ 276,110	$ 278,294
Ceded Written	(16,621)	(10,527)	(10,469)
Net premiums Written	268,734	265,583	267,825
Gross Earned	283,746	282,225	286,462
Ceded Earned	(16,621)	(10,527)	(10,469)
Net premiums Earned	$ 267,125	$ 271,698	$ 275,993

Reinsurance - Schedule of the A

Reinsurance - Schedule of the Amounts Recoverable from Reinsurers (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Unpaid losses recoverable:
Case basis	$ 80,211	$ 81,273
Incurred but not reported	39,535	31,282
Paid losses recoverable	7,796	12,440
Experience-rated commissions recoverable	2,781	1,054
Allowance for credit losses	(360)	(372)
Total reinsurance recoverables	$ 129,963	$ 125,677

Reinsurance - Additional Inform

Reinsurance - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Insurance [Abstract]
Paid losses recoverable outstanding due date	90 days
Received reinsurance recoveries	$ 16	$ 1.4	$ 5.8
Unsecured reinsurance recoverable by reinsurer reporting threshold	1.50%

Reinsurance - Schedule of Unsec

Reinsurance - Schedule of Unsecured Reinsurance Recoverables from Reinsurers (Detail) - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022
Ceded Credit Risk [Line Items]
Total reinsurance recoverables		$ 129,963	$ 125,677
Allowance for credit losses		(360)	$ (372)
Funds withheld and letters of credit related to the above recoverables		(81,520)
Total unsecured amounts recoverable from reinsurers		48,443
Reinsurance Recoverable [Member] | Reinsurer Concentration Risk
Ceded Credit Risk [Line Items]
Total reinsurance recoverables		129,963
Total amounts recoverable from reinsurers		130,323
Allowance for credit losses		(360)
Reinsurance Recoverable [Member] | Reinsurer Concentration Risk | Hannover Reinsurance (Ireland) Limited [Member] | A.M. Best Rating, A+ [Member]
Ceded Credit Risk [Line Items]
Total reinsurance recoverables	[1]	65,045
Reinsurance Recoverable [Member] | Reinsurer Concentration Risk | Arch Reinsurance Company
Ceded Credit Risk [Line Items]
Total reinsurance recoverables	[1]	19,694
Reinsurance Recoverable [Member] | Reinsurer Concentration Risk | Allianz Risk Transfer AG (Bermuda) [Member] | A.M. Best Rating, A+ [Member]
Ceded Credit Risk [Line Items]
Total reinsurance recoverables		9,084
Reinsurance Recoverable [Member] | Reinsurer Concentration Risk | Minnesota Workers' Compensation Reinsurance Association [Member]
Ceded Credit Risk [Line Items]
Total reinsurance recoverables	[1]	8,950
Reinsurance Recoverable [Member] | Reinsurer Concentration Risk | Munich Reinsurance America, Inc [Member]
Ceded Credit Risk [Line Items]
Total reinsurance recoverables	[1]	5,542
Reinsurance Recoverable [Member] | Reinsurer Concentration Risk | Odyssey America Reinsurance Corporation [Member] | A.M. Best Rating, A [Member]
Ceded Credit Risk [Line Items]
Total reinsurance recoverables		4,961
Reinsurance Recoverable [Member] | Reinsurer Concentration Risk | Other Reinsurers [Member]
Ceded Credit Risk [Line Items]
Total reinsurance recoverables		$ 17,047
[1] Current participant in our 2024 reinsurance program.

Reinsurance - Change in Allowan

Reinsurance - Change in Allowance for Credit Losses on Amounts Recoverable from Reinsurers (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Insurance [Abstract]
Balance, beginning of period	$ 372	$ 440
Provision for credit loss expense (benefit)	(12)	(68)
Balance, end of period	$ 360	$ 372

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Company's Deferred Income Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred income tax assets:
Discounting of net unpaid loss and loss adjustment expenses	$ 15,035	$ 16,164
Unearned premiums	6,072	6,173
Accrued expenses and other	2,103	2,403
State income tax	2,495	2,468
Accrued policyholder dividends	1,723	1,841
Accrued insurance-related assessments	1,870	1,990
Net unrealized loss on securities		1,182
Total deferred tax assets	29,298	32,221
Deferred income tax liabilities:
Deferred policy acquisition costs	(4,578)	(4,391)
Net unrealized gain on securities available-for-sale	(839)
Property and equipment and other	(365)	(473)
Salvage and subrogation	(284)	(320)
Loss reserves adjustment	(2,829)	(4,243)
Total deferred income tax liabilities	(8,895)	(9,427)
Net deferred income taxes	$ 20,403	$ 22,794

Income Taxes - Components of Co

Income Taxes - Components of Consolidated Income Tax Expense (Benefit) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current:
Federal	$ 13,621	$ 12,753	$ 11,368
State	1,020	427	1,055
Total Current	14,641	13,180	12,423
Deferred:
Federal	655	(802)	2,943
State	(27)	(334)	(1,673)
Total Deferred	628	(1,136)	1,270
Income tax expense, Total	$ 15,269	$ 12,044	$ 13,693

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Valuation allowance	$ 0	$ 0	$ 0
U.S. federal income tax statutory rate	21%	21%	21%
Uncertain tax positions recognized	$ 0	$ 0	$ 0

Income Taxes - Income Tax Expen

Income Taxes - Income Tax Expense from Operations from the Amount Computed by Applying the U.S. Federal Income Tax Statutory Rate of 21% to Income Before Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income tax computed at federal statutory tax rate	$ 16,249	$ 14,206	$ 16,684
Tax-exempt interest, net	(1,997)	(2,268)	(2,511)
State income tax	779	3	911
Dividends received deduction	(125)	(134)	(107)
Valuation allowance	46	(17)	(1,803)
Prior year adjustments	13	14	344
Other	304	240	175
Income tax expense, Total	$ 15,269	$ 12,044	$ 13,693

Line of Credit - Additional Inf

Line of Credit - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Line of Credit Facility [Line Items]
Maximum amount of line of credit	$ 20,000,000
Line of credit facility renewal date	Dec. 15, 2023
Outstanding borrowings or letters of credit	$ 0	$ 0

Loss and Loss Adjustment Expe_3

Loss and Loss Adjustment Expenses - Development Tables of Incurred and Paid Losses and Allocated Loss Adjustment Expenses Net of Reinsurance (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) Claim	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 2,035,580
Total IBNR Plus Expected Development on Reported Claims	44,927
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	1,583,083
All outstanding liabilities before 2012, net of reinsurance	101,752
Liabilities for loss and loss adjustment expenses, net of reinsurance	554,248
Accident Year 2014 [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	209,210	$ 210,096	$ 210,811	$ 212,417	$ 218,386	$ 226,933	$ 235,058	$ 249,097	$ 268,846	$ 268,846
Total IBNR Plus Expected Development on Reported Claims	$ 4,097
Cumulative Number of Claims Reported | Claim	5,841
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 195,409	193,192	192,169	191,394	186,129	180,683	169,736	153,320	119,820	$ 53,060
Claim Frequency	14.99%
Accident Year 2015 [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 205,556	207,086	207,929	211,758	220,965	235,471	252,514	262,573	262,573
Total IBNR Plus Expected Development on Reported Claims	$ 4,374
Cumulative Number of Claims Reported | Claim	5,517
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 190,588	189,339	188,145	185,657	182,053	170,461	151,818	121,599	$ 54,141
Claim Frequency	14.25%
Accident Year 2016 [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 198,566	201,604	202,820	209,214	218,005	241,406	250,491	250,491
Total IBNR Plus Expected Development on Reported Claims	$ 4,691
Cumulative Number of Claims Reported | Claim	5,394
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 178,572	174,134	172,133	166,887	156,860	143,016	115,713	$ 52,238
Claim Frequency	14.23%
Accident Year 2017 [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 206,293	208,360	211,964	220,096	234,587	244,098	244,094
Total IBNR Plus Expected Development on Reported Claims	$ 5,324
Cumulative Number of Claims Reported | Claim	5,214
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 185,690	183,696	175,733	166,448	151,427	122,552	$ 56,951
Claim Frequency	14.69%
Accident Year 2018 [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 205,001	208,517	217,369	235,641	250,487	250,487
Total IBNR Plus Expected Development on Reported Claims	$ 4,347
Cumulative Number of Claims Reported | Claim	5,477
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 184,797	181,081	172,423	152,328	126,057	$ 62,061
Claim Frequency	15.23%
Accident Year 2019 [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 206,109	214,123	227,246	241,344	241,344
Total IBNR Plus Expected Development on Reported Claims	$ 5,672
Cumulative Number of Claims Reported | Claim	5,223
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 176,488	168,448	154,391	120,512	$ 58,884
Claim Frequency	15.28%
Accident Year 2020 [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 207,047	214,500	220,710	220,710
Total IBNR Plus Expected Development on Reported Claims	$ 13,909
Cumulative Number of Claims Reported | Claim	4,391
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 153,974	137,411	109,882	$ 50,113
Claim Frequency	13.95%
Accident Year 2021 [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 215,232	222,715	222,715
Total IBNR Plus Expected Development on Reported Claims	$ 2,894
Cumulative Number of Claims Reported | Claim	4,304
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 159,864	130,288	$ 52,292
Claim Frequency	15.02%
Accident Year 2022 [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 192,907	192,907
Total IBNR Plus Expected Development on Reported Claims	$ (12,814)
Cumulative Number of Claims Reported | Claim	4,065
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 110,494	$ 50,954
Claim Frequency	14.40%
Accident Year 2023 [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 189,659
Total IBNR Plus Expected Development on Reported Claims	$ 12,433
Cumulative Number of Claims Reported | Claim	3,715
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 47,207
Claim Frequency	13.09%

Loss and Loss Adjustment Expe_4

Loss and Loss Adjustment Expenses - Summary of Average Annual Percentage Payout Of Incurred Losses By Age Net of Reinsurance For Worker's Compensation and general Liability (Unaudited) (Detail)	Dec. 31, 2023
Short-Duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract]
Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance, Year 1	26.40%
Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance, Year 2	31.70%
Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance, Year 3	14.30%
Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance, Year 4	8%
Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance, Year 5	4.80%
Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance, Year 6	2.50%
Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance, Year 7	1.40%
Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance, Year 8	1.10%
Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance, Year 9	0.50%
Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance, Year 10	1.10%

Loss and Loss Adjustment Expe_5

Loss and Loss Adjustment Expenses - Reconciliation of Beginning and Ending Reserve Balances, Net of Related Amounts Recoverable from Reinsurers (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Liability for Unpaid Claims and Claims Adjustment Expense, Activity in Liability [Abstract]
Balance, beginning of period	$ 696,037	$ 745,278	$ 760,561
Less amounts recoverable from reinsurers on unpaid loss and loss adjustment expenses	112,555	119,266	105,707
Net balance, beginning of period	583,482	626,012	654,854
Add incurred related to:
Current accident year	189,659	192,907	222,715
Prior accident years	(41,396)	(40,591)	(61,917)
Total incurred	148,263	152,316	160,798
Less paid related to:
Current accident year	47,207	50,954	52,292
Prior accident years	130,290	143,892	137,348
Total paid	177,497	194,846	189,640
Net balance, end of period	554,248	583,482	626,012
Add amounts recoverable from reinsurers on unpaid loss and loss adjustment expenses	119,746	112,555	119,266
Balance, end of period	$ 673,994	$ 696,037	$ 745,278

Loss and Loss Adjustment Expe_6

Loss and Loss Adjustment Expenses - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Unpaid Losses And Loss Expenses [Line Items]
Loss and LAE Related to Prior Periods	$ 41,396	$ 40,591	$ 61,917
Minimum period of underwriting workers? compensation insurance from which historical loss data utilize	38 years

Loss and Loss Adjustment Expe_7

Loss and Loss Adjustment Expenses - Summary Exposures to Various Asbestos Related Claims (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Asbestos Claims [Line Items]
Balance, beginning of period	$ 696,037	$ 745,278	$ 760,561
Incurred losses and LAE during the current year	148,263	152,316	160,798
Balance, end of period	673,994	696,037	745,278
Asbestos Issue [Member]
Asbestos Claims [Line Items]
Balance, beginning of period	248	260	318
Incurred losses and LAE during the current year	15	(2)	(44)
Loss and LAE payments	47	(10)	(14)
Balance, end of period	$ 310	$ 248	$ 260

Statutory Accounting and Regu_3

Statutory Accounting and Regulatory Requirements - Insurance Subsidiaries (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Insurance [Abstract]
Capital and surplus	$ 254,856	$ 252,486	$ 277,789
Net income	56,637	59,810	53,094
Net realized gains on investments	$ 5,470	$ 3,692	$ 1,695

Statutory Accounting and Regu_4

Statutory Accounting and Regulatory Requirements - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2024
Dividends to the Company	10%
Dividends paid	$ 56	$ 77.7	$ 148.4
Forecast [Member]
Dividends permissible to pay without seeking regulatory approval				$ 52.6

Capital Stock - Additional Info

Capital Stock - Additional Information (Detail) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Common stock, shares authorized	50,000,000	50,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares issued	20,704,448	20,678,572
Common stock, shares outstanding	19,135,008	19,155,873
Preferred stock, shares authorized	10,000,000
Preferred stock, par value	$ 0.01
Preferred stock, shares outstanding	0

Restricted Stock and Stock Op_3

Restricted Stock and Stock Options - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
2012 Equity and Incentive Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock granted	32,928	40,959
2012 Equity and Incentive Compensation Plan [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock granted		1,062
2012 Equity and Incentive Compensation Plan [Member] | Share Based Grants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation (benefit) expense	$ (43,000)	$ 232,000	$ 234,000
2012 Equity and Incentive Compensation Plan [Member] | Long-Term Incentive Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation (benefit) expense	$ (223,000)	$ 1,608,000	$ 1,741,000
Non-Employee Director Restricted Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock outstanding	9,856	11,888	5,607	5,068
Compensation (benefit) expense	$ 484,000	$ 502,000	$ 344,000
Shares authorized under incentive plan	150,000
Common stock granted	9,856	12,149	5,607
Common stock available for future awards	21,622
Restricted stock award for a number of shares	$ 75,000
2022 Equity and Incentive Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized under incentive plan	500,000
Common stock available for future awards	442,694
2022 Equity and Incentive Compensation Plan [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock outstanding	1,679	2,098
Common stock granted	33,369	2,098
2022 Equity and Incentive Compensation Plan [Member] | Share Based Grants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation (benefit) expense	$ 559,000	$ 137,000
2022 Equity and Incentive Compensation Plan [Member] | Long-Term Incentive Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation (benefit) expense	$ 780,000

Restricted Stock and Stock Op_4

Restricted Stock and Stock Options - Restricted Stock Activity (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
2012 Incentive Plan [Member] | Common and Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares, Nonvested outstanding, Beginning balance	10,531	12,821	15,314
Shares, Granted	18,561	42,021	27,388
Shares, Vested	(21,887)	(44,311)	(29,881)
Shares, Forfeited	(5,900)
Shares, Nonvested outstanding, Ending balance	1,305	10,531	12,821
Weighted-Average Grant-Date Fair Value per Share, Beginning balance	$ 60.92	$ 62.52	$ 60.23
Weighted-Average Grant-Date Fair Value per Share, Granted	52.35	48.08	64.36
Weighted-Average Grant-Date Fair Value per Share, Vested	53.65	49.21	63.03
Weighted-Average Grant-Date Fair Value per Share, Forfeited	50.97
Weighted-Average Grant-Date Fair Value per Share, Ending balance	$ 55.18	$ 60.92	$ 62.52
Non-Employee Director Restricted Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares, Nonvested outstanding, Beginning balance	11,888	5,607	5,068
Shares, Granted	9,856	12,149	5,607
Shares, Vested	(10,402)	(5,868)	(5,068)
Shares, Forfeited	(1,486)
Shares, Nonvested outstanding, Ending balance	9,856	11,888	5,607
Weighted-Average Grant-Date Fair Value per Share, Beginning balance	$ 50.47	$ 62.40	$ 69.03
Weighted-Average Grant-Date Fair Value per Share, Granted	53.26	50.41	62.40
Weighted-Average Grant-Date Fair Value per Share, Vested	50.47	61.75	69.03
Weighted-Average Grant-Date Fair Value per Share, Forfeited	55.08
Weighted-Average Grant-Date Fair Value per Share, Ending balance	$ 53.26	$ 50.47	$ 62.40
2022 Equity and Incentive Compensation Plan [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares, Nonvested outstanding, Beginning balance	2,098
Shares, Granted	33,369	2,098
Shares, Vested	(419)
Shares, Nonvested outstanding, Ending balance	1,679	2,098
Weighted-Average Grant-Date Fair Value per Share, Beginning balance	$ 47.65
Weighted-Average Grant-Date Fair Value per Share, Granted		$ 47.65
Weighted-Average Grant-Date Fair Value per Share, Vested	47.65
Weighted-Average Grant-Date Fair Value per Share, Ending balance	$ 47.65	$ 47.65
2022 Equity and Incentive Compensation Plan [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares, Nonvested outstanding, Beginning balance	22,826
Shares, Granted	33,369	22,826
Shares, Vested	(7,989)
Shares, Forfeited	(987)
Shares, Nonvested outstanding, Ending balance	47,219	22,826
Weighted-Average Grant-Date Fair Value per Share, Beginning balance	$ 48.19
Weighted-Average Grant-Date Fair Value per Share, Granted	52.61	$ 48.19
Weighted-Average Grant-Date Fair Value per Share, Vested	48.19
Weighted-Average Grant-Date Fair Value per Share, Forfeited	51.26
Weighted-Average Grant-Date Fair Value per Share, Ending balance	$ 51.19	$ 48.19

Earnings Per Share - Calculatio

Earnings Per Share - Calculation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share, Basic [Abstract]
Net income – basic	$ 62,108	$ 55,602	$ 65,756
Basic weighted average common shares	19,149,080	19,233,241	19,332,391
Basic earnings per share	$ 3.24	$ 2.89	$ 3.40
Net income – diluted	$ 62,108	$ 55,602	$ 65,756
Weighted average common shares	19,149,080	19,233,241	19,332,391
Restricted stock and RSUs	77,000	89,000	77,000
Diluted weighted average common shares	19,226,021	19,321,717	19,408,619
Diluted earnings per common share	$ 3.23	$ 2.88	$ 3.39

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation of Weighted Average Shares used for Basic and Diluted Earnings Per Share Calculation (Detail) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Weighted average common shares	19,149,080	19,233,241	19,332,391
Add: Other common shares eligible for common dividends:
Restricted stock and RSUs	76,941	88,476	76,228
Diluted weighted average common shares	19,226,021	19,321,717	19,408,619

Comprehensive Income and Accu_3

Comprehensive Income and Accumulated Other Comprehensive Income (Loss) - Schedule of Changes in Accumulated Other Comprehensive Income (AOCI) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	$ 317,432	$ 399,323	$ 438,816
Other comprehensive income (loss) before reclassification	6,202	(24,966)	(5,289)
Amounts reclassified from accumulated other comprehensive income (loss)	432	(2,399)	(2,193)
Net current period other comprehensive income (loss)	6,634	(27,365)	(7,482)
Ending Balance	292,451	317,432	399,323
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	(13,828)	13,537	21,019
Ending Balance	$ (7,194)	$ (13,828)	$ 13,537

Comprehensive Income and Accu_4

Comprehensive Income and Accumulated Other Comprehensive Income (Loss) - Reclassification Out of Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Net realized gains (losses) on investments	$ 6,579	$ 3,440	$ 1,695
Income before income taxes	77,377	67,646	79,449
Income tax expense	(15,269)	(12,044)	(13,693)
Net income	62,108	55,602	65,756
Unrealized Gains (losses) on Available-for-Sale Securities [Member] | Reclassification Out of Accumulated Other Comprehensive Income (Loss) [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Net realized gains (losses) on investments	(547)	3,037	2,776
Income before income taxes	115	(638)	(583)
Income tax expense	(547)	3,037	(2,776)
Net income	$ (432)	$ 2,399	$ 2,193

Comprehensive Income and Accu_5

Comprehensive Income and Accumulated Other Comprehensive Income (Loss) - Other Comprehensive Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Unrealized gain (loss) on available-for-sale securities, Pre-Tax Amount	$ 7,850	$ (31,602)	$ (6,695)
Reclassification adjustment for gains (losses) realized in net income, Pre-Tax Amount	547	(3,037)	(2,776)
Net unrealized gain loss, Pre-Tax Amount	8,397	(34,639)	(9,471)
Other comprehensive income (loss), Pre-Tax Amount	8,397	(34,639)	(9,471)
Unrealized gain loss on available-for-sale securities, Tax Expense (Benefit)	1,648	(6,636)	(1,406)
Reclassification adjustment for gains (losses) realized in net income, Tax Expense (Benefit)	115	(638)	(583)
Net unrealized gain loss, Tax Expense (Benefit)	1,763	(7,274)	(1,989)
Other comprehensive income (loss), Tax Expense (Benefit)	1,763	(7,274)	(1,989)
Unrealized gain (loss) on available-for-sale securities, Net-of-Tax Amount	6,202	(24,966)	(5,289)
Reclassification adjustment for gains (losses) realized in net income, Net-of-Tax Amount	432	(2,399)	(2,193)
Net unrealized gain loss, Net-of-Tax Amount	6,634	(27,365)	(7,482)
Other comprehensive income (loss), Net-of-Tax Amount	$ 6,634	$ (27,365)	$ (7,482)

Employee Benefit Plan - Additio

Employee Benefit Plan - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan name	401(k) benefit plan
Matches employee compensation for participating employees	50%
Fully vested in employer contributions	5 years
Defined contribution this plan	$ 0.7	$ 0.7	$ 0.7
Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Matches employee compensation for participating employees	6%

Commitments and Contingencies -

Commitments and Contingencies - Fair Value of Annuities (Detail) $ in Thousands	Dec. 31, 2023 USD ($)
Commitments And Contingencies [Line Items]
Statement value of annuities exceeding 1% of statutory surplus	$ 106,896
Pacific Life Insurance Company [Member] | A.M. Best Rating, A+ [Member]
Commitments And Contingencies [Line Items]
Statement value of annuities exceeding 1% of statutory surplus	20,961
Metropolitan Tower Life Insurance Company [Member] | A.M. Best Rating, A+ [Member]
Commitments And Contingencies [Line Items]
Statement value of annuities exceeding 1% of statutory surplus	15,173
American General Life Insurance Company [Member] | A.M. Best Rating, A [Member]
Commitments And Contingencies [Line Items]
Statement value of annuities exceeding 1% of statutory surplus	14,171
United Of Omaha Life Insurance Company | A.M. Best Rating, A+ [Member]
Commitments And Contingencies [Line Items]
Statement value of annuities exceeding 1% of statutory surplus	10,316
Brighthouse Financial Life Insurance Company [Member] | A.M. Best Rating, A [Member]
Commitments And Contingencies [Line Items]
Statement value of annuities exceeding 1% of statutory surplus	9,039
New York Life Insurance Company [Member] | A.M. Best Rating, A++ [Member]
Commitments And Contingencies [Line Items]
Statement value of annuities exceeding 1% of statutory surplus	8,271
Berkshire Hathaway Life Insurance Company of Nebraska [Member] | A.M. Best Rating, A++ [Member]
Commitments And Contingencies [Line Items]
Statement value of annuities exceeding 1% of statutory surplus	7,226
John Hancock Life Insurance Company [Member] | A.M. Best Rating, A+ [Member]
Commitments And Contingencies [Line Items]
Statement value of annuities exceeding 1% of statutory surplus	5,569
Athene Annuity and Life Company [Member] | A.M. Best Rating, A [Member]
Commitments And Contingencies [Line Items]
Statement value of annuities exceeding 1% of statutory surplus	3,644
Protective Life Insurance Company [Member] | A.M. Best Rating, A+ [Member]
Commitments And Contingencies [Line Items]
Statement value of annuities exceeding 1% of statutory surplus	3,514
Wilton Reassurance Company [Member] | A.M. Best Rating, A+ [Member]
Commitments And Contingencies [Line Items]
Statement value of annuities exceeding 1% of statutory surplus	2,971
Other [Member]
Commitments And Contingencies [Line Items]
Statement value of annuities exceeding 1% of statutory surplus	$ 6,041

Commitments and Contingencies_2

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Commitments And Contingencies [Line Items]
Operating lease, existence of option to extend			true
Finance lease, existence of option to extend			true
Rent expense	$ 0.1	$ 0.1	$ 0.2
Minimum [Member]
Commitments And Contingencies [Line Items]
Operating lease, remaining lease term	1 month
Finance lease, remaining lease term	1 month
Maximum [Member]
Commitments And Contingencies [Line Items]
Operating lease, remaining lease term	47 months
Finance lease, remaining lease term	47 months
Operating lease, options to extend lease term	5 years
Finance lease, options to extend lease term	5 years

Commitments and Contingencies_3

Commitments and Contingencies - Components of Lease Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost	$ 108	$ 103
Finance lease cost:
Amortization of right-of-use assets	320	193
Interest on lease liabilities	8	9
Total finance lease cost	$ 328	$ 202

Commitments and Contingencies_4

Commitments and Contingencies - Schedule of Supplemental Cash Flow Information Related to Leases (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ (77)	$ (87)
Operating cash flows from finance leases	8	9
Financing cash flows from finance leases	$ 91	$ 58	$ 44

Commitments and Contingencies_5

Commitments and Contingencies - Schedule of Right-of-use Assets Obtained in Exchange for Lease Obligations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Operating leases	$ 26	$ 45
Finance leases	$ 99	$ 122

Commitments and Contingencies_6

Commitments and Contingencies - Schedule of Supplemental Balance Sheet Information Related to Leases (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Operating lease right-of-use assets	$ 29	$ 106
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets	Other assets
Operating lease liabilities	$ 29	$ 106
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Accounts payable and other liabilities	Accounts payable and other liabilities
Finance lease right-of-use assets	$ 462	$ 362
Finance lease accumulated amortization right-of-use assets	(320)	(193)
Property and equipment, net	$ 142	$ 169
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property and equipment, net	Property and equipment, net
Finance lease liabilities	$ 238	$ 230
Finance Lease, Liability, Statement of Financial Position [Extensible List]	Accounts payable and other liabilities	Accounts payable and other liabilities

Commitments and Contingencies_7

Commitments and Contingencies - Schedule of Weighted Average Remaining Lease Term and Discount Rate (Detail)	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Operating leases, Weighted average remaining lease term:	8 months 12 days	1 year 2 months 12 days
Finance leases, Weighted average remaining lease term:	2 years 10 months 24 days	3 years
Operating leases, Weighted average discount rate:	6.66%	1.59%
Finance leases, Weighted average discount rate:	5.52%	3.33%

Commitments and Contingencies_8

Commitments and Contingencies - Schedule of Maturity Analysis of Annual Undiscounted Cash Flows of Operating and Finance Lease Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Operating Leases, 2024	$ 29
Operating Leases, 2025	1
Operating Leases, 2026	0
Operating Leases, 2027	0
Operating Leases, 2028	0
Total lease payments	30
Operating Leases, Less imputed interest	1
Operating Leases, Total	29	$ 106
Finance Leases, 2024	97
Finance Leases, 2025	93
Finance Leases, 2026	22
Finance Leases, 2027	49
Finance Leases, 2028	0
Total lease payments	261
Finance Leases, Less imputed interest	23
Finance Leases, Total	$ 238	$ 230

Concentration of Operations - N

Concentration of Operations - Net Premiums Earned for the Top Ten States (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Premiums Earned Net By Segment [Line Items]
Net premiums earned	$ 267,125	$ 271,698	$ 275,993
Premium earned percentage	100%	100%	100%
Florida [Member]
Schedule Of Premiums Earned Net By Segment [Line Items]
Net premiums earned	$ 33,838	$ 31,955	$ 31,514
Premium earned percentage	12.70%	11.80%	11.40%
Georgia [Member]
Schedule Of Premiums Earned Net By Segment [Line Items]
Net premiums earned	$ 30,504	$ 30,831	$ 34,772
Premium earned percentage	11.40%	11.30%	12.60%
Louisiana [Member]
Schedule Of Premiums Earned Net By Segment [Line Items]
Net premiums earned	$ 21,150	$ 21,804	$ 20,476
Premium earned percentage	7.90%	8%	7.40%
Pennsylvania [Member]
Schedule Of Premiums Earned Net By Segment [Line Items]
Net premiums earned	$ 19,963	$ 21,017	$ 19,574
Premium earned percentage	7.50%	7.70%	7.10%
North Carolina [Member]
Schedule Of Premiums Earned Net By Segment [Line Items]
Net premiums earned	$ 16,432	$ 17,883	$ 15,964
Premium earned percentage	6.20%	6.60%	5.80%
Illinois [Member]
Schedule Of Premiums Earned Net By Segment [Line Items]
Net premiums earned	$ 13,072	$ 12,209	$ 13,680
Premium earned percentage	4.90%	4.50%	5%
Wisconsin [Member]
Schedule Of Premiums Earned Net By Segment [Line Items]
Net premiums earned	$ 11,724	$ 12,007	$ 13,108
Premium earned percentage	4.40%	4.40%	4.70%
Virginia [Member]
Schedule Of Premiums Earned Net By Segment [Line Items]
Net premiums earned	$ 10,400	$ 11,537	$ 12,579
Premium earned percentage	3.80%	4.30%	4.60%
South Carolina [Member]
Schedule Of Premiums Earned Net By Segment [Line Items]
Net premiums earned	$ 9,050	$ 9,808	$ 9,186
Premium earned percentage	3.40%	3.60%	3.30%
Minnesota [Member]
Schedule Of Premiums Earned Net By Segment [Line Items]
Net premiums earned	$ 8,845	$ 9,827	$ 10,612
Premium earned percentage	3.30%	3.60%	3.80%
All Others [Member]
Schedule Of Premiums Earned Net By Segment [Line Items]
Net premiums earned	$ 92,147	$ 92,820	$ 94,528
Premium earned percentage	34.50%	34.20%	34.30%

Fair Values of Financial Inst_3

Fair Values of Financial Instruments - Summary of Carrying or Reported Values and Corresponding Fair Values for Financial Instruments (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities--held-to-maturity	$ 473,092	$ 468,144
Fixed maturity securities--available-for-sale	317,064	321,121
Equity securities	57,147	62,058
Short-term investments		14,120
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities--held-to-maturity	483,575	491,688
Fixed maturity securities--available-for-sale	317,064	321,121
Equity securities	57,147	62,058
Short-term investments		14,120
Cash and cash equivalents	38,682	61,469
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities--held-to-maturity	473,092	468,144
Fixed maturity securities--available-for-sale	317,064	321,121
Equity securities	57,147	62,058
Short-term investments		14,120
Cash and cash equivalents	$ 38,682	$ 61,469

Fair Values of Financial Inst_4

Fair Values of Financial Instruments - Schedule of Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale fixed maturity, Fair Value	$ 317,064	$ 321,121
Equity securities, Fair Value	57,147	62,058
Fair Value, Measurements, Recurring [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale fixed maturity, Fair Value	317,064	321,121
Total	374,211	383,179
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale fixed maturity, Fair Value	13,671	14,231
Total	70,818	76,289
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale fixed maturity, Fair Value	303,393	306,890
Total	303,393	306,890
Fair Value, Measurements, Recurring [Member] | States and Political Subdivisions [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale fixed maturity, Fair Value	131,895	156,656
Fair Value, Measurements, Recurring [Member] | States and Political Subdivisions [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale fixed maturity, Fair Value	131,895	156,656
Fair Value, Measurements, Recurring [Member] | Corporate Bonds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale fixed maturity, Fair Value	166,753	144,788
Fair Value, Measurements, Recurring [Member] | Corporate Bonds [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale fixed maturity, Fair Value	166,753	144,788
Fair Value, Measurements, Recurring [Member] | U.S. Agency-Based Mortgage-Backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale fixed maturity, Fair Value	4,745	5,446
Fair Value, Measurements, Recurring [Member] | U.S. Agency-Based Mortgage-Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale fixed maturity, Fair Value	4,745	5,446
Fair Value, Measurements, Recurring [Member] | U.S. Treasury Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale fixed maturity, Fair Value	13,671	14,231
Fair Value, Measurements, Recurring [Member] | U.S. Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale fixed maturity, Fair Value	13,671	14,231
Fair Value, Measurements, Recurring [Member] | Common Stock [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities, Fair Value	57,147	62,058
Fair Value, Measurements, Recurring [Member] | Common Stock [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities, Fair Value	$ 57,147	$ 62,058

Fair Values of Financial Inst_5

Fair Values of Financial Instruments - Schedule of Assets Measured at Amortized Cost (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	$ 473,092	$ 468,144
States and Political Subdivisions [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	408,970	395,944
Corporate Bonds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	49,948	55,851
U.S. Agency-Based Mortgage-Backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	3,199	3,576
U.S. Treasury Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	10,939	12,706
Asset-Backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	36	67
Fair Value, Inputs, Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	10,939	12,706
Fair Value, Inputs, Level 1 [Member] | U.S. Treasury Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	10,939	12,706
Fair Value, Inputs, Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	462,153	455,438
Fair Value, Inputs, Level 2 [Member] | States and Political Subdivisions [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	408,970	395,944
Fair Value, Inputs, Level 2 [Member] | Corporate Bonds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	49,948	55,851
Fair Value, Inputs, Level 2 [Member] | U.S. Agency-Based Mortgage-Backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	3,199	3,576
Fair Value, Inputs, Level 2 [Member] | Asset-Backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	$ 36	$ 67

Capital Management - Additional

Capital Management - Additional Information (Detail) - USD ($)	12 Months Ended			166 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2023	Oct. 31, 2016
Equity [Abstract]
Share repurchase program, new limit amount					$ 25,000,000
Shares repurchased under the program	46,741	264,449	0
Shares repurchased under the program, value	$ 2,200,000	$ 12,400,000
Shares repurchased, value	$ 36,929,000	$ 34,758,000		$ 36,929,000
Shares repurchased, average price	$ 46.45	$ 46.84		$ 23.53
Shares repurchased	1,569,440	1,522,699		1,569,440
Quarterly dividend per share	$ 0.34	$ 0.31	$ 0.29	$ 0.34
Extraordinary dividends declared per share	$ 3.50	$ 4	$ 4

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - $ / shares	Feb. 19, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Subsequent Event [Line Items]
Cash dividend per share		$ 0.34	$ 0.31	$ 0.29
Subsequent Event [Member] | Dividend Declared [Member]
Subsequent Event [Line Items]
Cash dividend per share	$ 0.37
Date of payment for dividend	Mar. 22, 2024
Date of record for dividend payment	Mar. 08, 2024

Schedule II. Condensed Financ_2

Schedule II. Condensed Financial Information of Registrant - Condensed Balance Sheets (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets
Fixed maturity securities-available-for-sale, at fair value (amortized cost $24,309 and $19,824 in 2023 and 2022, respectively)	$ 317,064	$ 321,121
Equity securities, at fair value (cost $7,108 and $10,007 in 2023 and 2022, respectively)	57,147	62,058
Short-term investments		14,120
Total investments	857,786	888,987
Cash and cash equivalents	38,682	61,469
Deferred income taxes	20,403	22,794
Property and equipment, net	6,349	7,225
Federal income tax recoverable	1,781	1,453
Other assets	15,088	14,132
Total assets	1,229,162	1,269,279
Liabilities:
Accounts payable and other liabilities	41,020	38,058
Total liabilities	936,711	951,847
Shareholders' equity (net of Treasury stock of $36,929 and $34,758 at December 31, 2023 and 2022, respectively)	292,451	317,432	$ 399,323	$ 438,816
Total liabilities and shareholders’ equity	1,229,162	1,269,279
Parent Company [Member]
Assets
Fixed maturity securities-available-for-sale, at fair value (amortized cost $24,309 and $19,824 in 2023 and 2022, respectively)	24,283	19,470
Equity securities, at fair value (cost $7,108 and $10,007 in 2023 and 2022, respectively)	9,857	13,602
Short-term investments		10,145
Investment in subsidiaries	249,159	239,664
Total investments	283,299	282,881
Cash and cash equivalents	6,635	31,911
Deferred income taxes	880	982
Notes receivable from subsidiaries	1,925	1,855
Property and equipment, net	1,933	2,736
Federal income tax recoverable	784	543
Other assets	1,099	1,752
Total assets	296,555	322,660
Liabilities:
Accounts payable and other liabilities	4,104	5,228
Total liabilities	4,104	5,228
Shareholders' equity (net of Treasury stock of $36,929 and $34,758 at December 31, 2023 and 2022, respectively)	292,451	317,432
Total liabilities and shareholders’ equity	$ 296,555	$ 322,660

Schedule II. Condensed Financ_3

Schedule II. Condensed Financial Information of Registrant - Condensed Balance Sheets (Parenthetical) (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Condensed Balance Sheet Statements, Captions [Line Items]
Fixed maturity securities, amortized cost	$ 326,171	$ 338,593
Equity securities, cost	44,046	50,185
Net of Treasury stock	36,929	34,758
Parent Company [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Fixed maturity securities, amortized cost	24,309	19,824
Equity securities, cost	7,108	10,007
Net of Treasury stock	$ 36,929	$ 34,758

Schedule II. Condensed Financ_4

Schedule II. Condensed Financial Information of Registrant - Condensed Statements of Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues
Net investment income	$ 31,339	$ 27,223	$ 25,435
Net unrealized gains (losses) on equity securities	1,228	(8,092)	12,315
Fee and other income	582	468	496
Total revenues	306,853	294,737	315,934
Expenses
Total expenses	229,476	227,091	236,485
Income tax expense (benefit)	15,269	12,044	13,693
Net income	62,108	55,602	65,756
Parent Company [Member]
Revenues
Net investment income	4,861	2,395	896
Net unrealized gains (losses) on equity securities	(845)	(490)	2,590
Fee and other income	8,933	9,533	8,541
Total revenues	12,949	11,438	12,027
Expenses
Other operating costs	8,932	9,533	8,541
Total expenses	8,932	9,533	8,541
Income before income taxes and equity in earnings of subsidiaries	4,017	1,905	3,486
Income tax expense (benefit)	1,055	714	(1,188)
Gain before equity in earnings of subsidiaries	2,962	1,191	4,674
Equity in net income of subsidiaries	59,146	54,411	61,083
Net income	$ 62,108	$ 55,602	$ 65,757

Schedule II. Condensed Financ_5

Schedule II. Condensed Financial Information of Registrant - Condensed Statements of Cash Flows (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating activities
Net cash provided by operating activities	$ 29,842	$ 28,194	$ 37,979
Investing activities
Purchases of property and equipment	(553)	(2,089)	(1,296)
Net cash provided by investing activities	43,884	75,426	70,959
Financing activities
Finance lease purchases	(91)	(58)	(44)
Share-based compensation related tax withholding	(944)
Purchase of treasury stock	(2,171)	(12,388)
Dividends to shareholders	(93,307)	(100,427)	(99,929)
Net cash used in financing activities	(96,513)	(112,873)	(99,973)
Change in cash and cash equivalents	(22,787)	(9,253)	8,965
Cash and cash equivalents at beginning of year	61,469	70,722	61,757
Cash and cash equivalents at end of year	38,682	61,469	70,722
Parent Company [Member]
Operating activities
Net cash provided by operating activities	5,591	6,121	6,622
Investing activities
Purchases of investments	(24,885)	(31,909)	(87,289)
Proceeds from sales of investments	35,013	75,950	28,780
Purchases of property and equipment	(482)	(1,903)	(1,277)
Dividends from subsidiary	56,000	77,700	148,400
Net cash provided by investing activities	65,646	119,838	88,614
Financing activities
Finance lease purchases	(91)	(58)	(44)
Share-based compensation related tax withholding	(944)
Purchase of treasury stock	(2,171)	(12,388)
Dividends to shareholders	(93,307)	(100,427)	(99,929)
Net cash used in financing activities	(96,513)	(112,873)	(99,973)
Change in cash and cash equivalents	(25,276)	13,086	(4,737)
Cash and cash equivalents at beginning of year	31,911	18,825	23,562
Cash and cash equivalents at end of year	$ 6,635	$ 31,911	$ 18,825

Schedule VI. Supplemental Inf_2

Schedule VI. Supplemental Information Concerning Property-Casualty Insurance Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Abstract]
Deferred Policy Acquisition Costs	$ 17,975	$ 17,401	$ 17,059
Reserves for Unpaid Loss and Loss Adjustment Expense	673,994	696,037	745,278
Unearned Premium	116,585	114,976	121,092
Net Premiums Earned	267,125	271,698	275,993
Net Investment Income	31,339	27,223	25,435
Loss and LAE Related to Current Period	189,659	192,907	222,715
Loss and LAE Related to Prior Periods	(41,396)	(40,591)	(61,917)
Amortization of Deferred Policy Acquisition Costs	(40,859)	(39,852)	(38,481)
Paid Claims and Claim Adjustment Expenses	177,497	194,846	189,640
Net Premiums Written	$ 268,734	$ 265,583	$ 267,825