Safety Insurance (SAFT) 10-K28 Feb 202019 FY Annual reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2019	Feb. 10, 2020	Jun. 30, 2019
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2019
Entity File Number	000-50070
Entity Registrant Name	SAFETY INSURANCE GROUP, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-4181699
Entity Address, Address Line One	20 Custom House Street
Entity Address, City or Town	Boston
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02110
City Area Code	617
Local Phone Number	951-0600
Title of 12(b) Security	Common Shares, $0.01 par value per share
Trading Symbol	SAFT
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		15,383,209
Entity Public Float			$ 1,392,875,671
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Central Index Key	0001172052
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Investments:
Fixed maturities, available for sale, at fair value (amortized cost: $1,192,357 and $1,175,413)	$ 1,228,040	$ 1,161,862
Equity securities, at fair value (cost: $151,121 and $142,948)	177,637	148,011
Other invested assets	37,278	23,481
Total investments	1,442,955	1,333,354
Cash and cash equivalents	44,407	37,582
Accounts receivable, net of allowance for doubtful accounts	193,369	190,062
Receivable for securities sold	1,784	1,039
Accrued investment income	8,404	8,420
Taxes recoverable	1,003
Receivable from reinsurers related to paid loss and loss adjustment expenses	11,319	13,691
Receivable from reinsurers related to unpaid loss and loss adjustment expenses	122,372	108,398
Ceded unearned premiums	35,182	33,974
Deferred policy acquisition costs	74,287	73,355
Deferred income taxes		8,749
Equity and deposits in pools	29,791	28,094
Operating lease right-of-use-assets	33,998
Other assets	23,798	19,522
Total assets	2,022,669	1,856,240
Liabilities
Loss and loss adjustment expense reserves	610,566	584,719
Unearned premium reserves	442,219	435,380
Accounts payable and accrued liabilities	75,016	71,896
Payable for securities purchased	6,377	5,156
Payable to reinsurers	12,911	12,220
Deferred income taxes	5,717
Taxes payable		6,090
Operating lease liabilities	33,998
Other liabilities	27,459	22,135
Total liabilities	1,214,263	1,137,596
Commitments and contingencies (Note 7)
Shareholders' equity
Common stock: $0.01 par value; 30,000,000 shares authorized; 17,662,779 and 17,566,180 shares issued	177	176
Additional paid-in capital	202,321	196,292
Accumulated other comprehensive income (loss), net of taxes	28,190	(10,706)
Retained earnings	661,553	616,717
Treasury stock, at cost: 2,279,570 shares	(83,835)	(83,835)
Total shareholders' equity	808,406	718,644
Total liabilities and shareholders' equity	$ 2,022,669	$ 1,856,240

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Consolidated Balance Sheets
Fixed maturity securities, amortized cost	$ 1,192,357	$ 1,175,413
Equity securities, at cost	$ 151,121	$ 142,948
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock shares authorized	30,000,000	30,000,000
Common stock shares issued	17,662,779	17,566,180
Treasury stock shares	2,279,570	2,279,570

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues
Net earned premiums	$ 788,777	$ 781,587	$ 774,420
Net investment income	46,665	43,788	38,758
Earnings from partnership investments	1,937	6,915	2,082
Net realized gains on investments	2,976	3,226	6,036
Change in unrealized gains on equity investments	21,454	(16,324)
Net impairment losses on investments (a)	(889)	(228)	(256)
Finance and other service income	16,833	17,533	18,073
Total revenue	877,753	836,497	839,113
Expenses
Losses and loss adjustment expenses	509,846	485,513	503,887
Underwriting, operating and related expenses	244,136	246,643	248,436
Interest expense	90	90	90
Total expenses	754,072	732,246	752,413
Income before income taxes	123,681	104,251	86,700
Income tax expense	24,080	21,056	24,313
Net income	$ 99,601	$ 83,195	$ 62,387
Earnings per weighted average common share:
Basic (in dollars per share)	$ 6.52	$ 5.48	$ 4.13
Diluted (in dollars per share)	6.46	5.43	4.10
Cash dividends paid per common share (in dollars per share)	$ 3.40	$ 3.20	$ 3
Number of shares used in computing earnings per share:
Basic (in shares)	15,201,132	15,080,269	15,010,751
Diluted (in shares)	15,337,807	15,229,898	15,135,348

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Consolidated Statements of Comprehensive Income
Net income	$ 99,601	$ 83,195	$ 62,387
Other comprehensive income (loss), net of tax:
Unrealized holding gains (losses) during the period, net of income tax expense (benefit) of $10,964, ($5,387), and $6,027.	41,247	(20,267)	12,349
Reclassification adjustment for net realized gains on investments included in net income, net of income tax expense of ($625), ($678), and ($2,112).	(2,351)	(2,549)	(3,923)
Other comprehensive income (loss), net of tax:	38,896	(22,816)	8,426
Comprehensive income	$ 138,497	$ 60,379	$ 70,813

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Consolidated Statements of Comprehensive Income.
Tax expense (benefit) on unrealized holding gains (losses) during the period	$ 10,964	$ (5,387)	$ 6,027
Tax expense on reclassification adjustment for gains included in net income	$ (625)	$ (678)	$ (2,112)

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss), Net of Taxes	Retained Earnings	Treasury Stock	Total
Balance at Dec. 31, 2016	$ 174	$ 184,549	$ 15,843	$ 553,995	$ (83,835)	$ 670,726
Net income				62,387		62,387
Unrealized gains (losses) on securities available for sale, net of deferred federal income taxes			8,426			8,426
Restricted share awards issued	1	362				363
Recognition of employee share-based compensation, net of deferred federal income taxes		4,803				4,803
Dividends paid and accrued				(45,689)		(45,689)
Balance at Dec. 31, 2017	175	189,714	24,269	570,693	(83,835)	701,016
Reclassification of certain tax effects from accumulated other comprehensive income at January 1, 2018			4,736	(4,736)
Net income				83,195		83,195
Unrealized gains (losses) on securities available for sale, net of deferred federal income taxes			(22,816)			(22,816)
Restricted share awards issued	1	375				376
Recognition of employee share-based compensation, net of deferred federal income taxes		6,203				6,203
Dividends paid and accrued				(49,330)		(49,330)
Balance at Dec. 31, 2018	176	196,292	(10,706)	616,717	(83,835)	718,644
Cumulative effect of adoption of updated accounting guidance for equity financial instruments at January 1, 2018			(16,895)	16,895
Net income				99,601		99,601
Unrealized gains (losses) on securities available for sale, net of deferred federal income taxes			38,896			38,896
Restricted share awards issued	1	462				463
Recognition of employee share-based compensation, net of deferred federal income taxes		5,567				5,567
Dividends paid and accrued				(52,392)		(52,392)
Balance at Dec. 31, 2019	$ 177	$ 202,321	$ 28,190	661,553	$ (83,835)	808,406
Cumulative effect of adoption of updated accounting guidance for callable debt securities at January 1, 2019				$ (2,373)		$ (2,373)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net income	$ 99,601	$ 83,195	$ 62,387
Adjustments to reconcile net income to net cash provided by operating activities:
Investment amortization, net	4,922	5,273	6,962
Fixed Asset depreciation, net	5,485	5,467	5,037
Stock based compensation	6,030	6,579	5,166
Provision (credit) for deferred income taxes	4,757	(5,600)	2,085
Net realized gains on investments	(2,976)	(3,226)	(6,036)
Net impairment losses on investments	889	228	256
Earnings from partnership investments	(904)	(650)	(2,082)
Change in net unrealized gains on equity investments	(21,454)	16,324
Changes in assets and liabilities:
Accounts receivable	(3,307)	587	(2,953)
Accrued investment income	16	456	(18)
Receivable from reinsurers	(11,602)	(14,228)	5,367
Ceded unearned premiums	(1,208)	(1,799)	(3,590)
Deferred policy acquisition costs	(932)	(1,153)	(1,206)
Taxes recoverable	(1,003)	908	(908)
Other assets	(1,864)	2,565	(5,400)
Loss and loss adjustment expense reserves	25,847	10,665	13,733
Unearned premium reserves	6,839	7,123	10,224
Taxes payable	(6,090)	6,090	(1,110)
Accounts payable and accrued liabilities	3,395	10,678	(6,333)
Payable to reinsurers	691	(1,581)	299
Other liabilities	5,324	(210)	160
Net cash provided by operating activities	112,456	127,691	82,040
Cash flows from investing activities:
Fixed maturities purchased	(219,875)	(304,654)	(205,226)
Equity securities purchased	(28,586)	(66,832)	(27,440)
Other invested assets purchased	(14,794)	(6,648)	(7,492)
Proceeds from sales and paydowns of fixed maturities	135,119	217,221	151,071
Proceeds from maturities, redemptions, and calls of fixed maturities	58,676	63,628	37,868
Proceed from sales of equity securities	23,966	18,654	34,664
Proceeds from other invested assets redeemed	2,124	6,810	7,589
Fixed assets purchased	(9,594)	(11,183)	(5,958)
Net cash used for investing activities	(52,964)	(83,004)	(14,924)
Cash flows from financing activities:
Dividends paid to shareholders	(52,667)	(48,813)	(45,460)
Net cash used for financing activities	(52,667)	(48,813)	(45,460)
Net increase (decrease) in cash and cash equivalents	6,825	(4,126)	21,656
Cash and cash equivalents at beginning of year	37,582	41,708	20,052
Cash and cash equivalents at end of period	44,407	37,582	41,708
Supplemental disclosure of cash flow information:
Federal and state income taxes	26,780	20,115	23,721
Interest	$ 75	$ 75	$ 75

Basis of Presentation

Basis of Presentation	12 Months Ended
Basis of Presentation	Dec. 31, 2019
Basis of Presentation
Basis of Presentation	1. Basis of Presentatio n The consolidated financial statements have been prepared on the basis of accounting principles generally accepted in the United States of America (“GAAP”). The consolidated financial statements include Safety Insurance Group, Inc. and its subsidiaries (the “Company”). The subsidiaries consist of Safety Insurance Company, Safety Indemnity Insurance Company, Safety Property and Casualty Insurance Company, Safety Asset Management Corporation (“SAMC”), and Safety Management Corporation, which is SAMC’s holding company. All intercompany transactions have been eliminated. The Company was incorporated on June 25, 2001 in the State of Delaware. On October 16, 2001, the Company acquired all of the issued and outstanding common stock of Thomas Black Corporation (“TBC”) and its property and casualty subsidiaries. TBC subsequently merged with and into Safety Insurance Group, Inc. with Safety Insurance Group, Inc. being the corporation surviving the merger. The Company is a leading provider of property and casualty insurance focused primarily on the Massachusetts market. The Company’s principal product line is private passenger automobile insurance, which accounted for 54.8% of its direct written premiums in 2019. The Company operates through its insurance company subsidiaries, Safety Insurance Company, Safety Indemnity Insurance Company, and Safety Property and Casualty Insurance Company (together referred to as the “Insurance Subsidiaries”). The Insurance Subsidiaries began writing private passenger automobile and homeowners insurance in New Hampshire during 2008, personal umbrella insurance in New Hampshire during 2009, and commercial automobile insurance in New Hampshire during 2011. The Insurance Subsidiaries began writing all of these lines of business in Maine during 2016. Management has assessed and concluded that there were no conditions or events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date the financial statements were issued.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2019
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Investments Investments in fixed maturities, which include taxable and non-taxable bonds and redeemable preferred stocks, are reported at fair value. Investments in equity securities, which include interests in common stocks, mutual funds and a real estate investment trust (“REIT”), are reported at fair value. Fair values for fixed maturity securities are based on estimates obtained from independent pricing services. Fair values for equity securities are derived from external market quotations, with the exception of the REIT whose fair value was determined using the trust’s net asset value obtained from its audited financial statements. Short-term investments, which consist of U.S. Treasury securities, are reported at amortized cost, which approximates fair value. Other long-term investments consist of investments in limited partnerships. The partnership interest is accounted for using the equity method of accounting and recorded in earnings from partnership investments. The carrying value of this investment is written down, or impaired, to fair value when a decline in value is considered to be other-than-temporary. In applying the equity method (including assessment for other-than-temporary impairment), the Company uses financial information provided by the investee, generally on a three month lag. Unrealized gains or losses on fixed maturity securities reported at fair value are excluded from earnings and reported in a separate component of shareholders’ equity, known as “Accumulated other comprehensive income (loss), net of taxes,” until realized. Changes in unrealized gains or losses on equity securities are recognized in earnings. Realized gains or losses on the sale or maturity of investments are determined based on the specific cost identification method. Fixed maturities and equity securities that experience declines in value that are other-than-temporary are written down to fair value with a corresponding charge to net impairment losses on investments. Investment income is recognized on an accrual basis of accounting. Bonds not backed by other loans are amortized using the interest method. Loan-backed bonds and structured securities are amortized using the interest method and significant changes in estimated cash flows from the original purchase assumptions are accounted for using the retrospective method. Cash and Cash Equivalents Cash and cash equivalents includes money market accounts and United States (“U.S.”) Treasury bills with original maturities of three months or less from the date of purchase. U.S. Treasury bills are stated at amortized cost, which approximates fair value. Accounts Receivable Amounts included in accounts receivable represent premiums as well as finance charges, the majority of which are billed on a monthly installment basis. Accounts receivable are stated net of allowances for doubtful accounts. At December 31, 2019 and 2018, these allowances were $578 and $482, respectively. Uncollected premium balances over ninety days past due are written off. Deferred Policy Acquisition Costs Amounts that vary with and are primarily related to the successful acquisition of a new or renewal insurance contract, principally commissions and premium taxes, are deferred and amortized ratably over the effective period of the policy. All other acquisition expenses are expensed as incurred. Deferred policy acquisition costs are reviewed to determine if they are recoverable from future income, and if not, are charged to expense. Future investment income attributable to related premiums is not taken into account in measuring the recoverability of the carrying value of this asset. Amortization of acquisition costs in the amount of $147,945, $146,601, and $144,703 were charged to underwriting, operating and other expenses for the years ended 2019, 2018 and 2017, respectively. Equity and Deposits in Pools Equity and deposits in pools represents the net receivable amounts from the residual market mechanisms, Commonwealth Automobile Reinsurers (“CAR”) for automobile and Massachusetts Property Insurance Underwriting Association (“FAIR Plan”) for homeowner insurance in Massachusetts. See Note 10 for a discussion of the Company’s accounting for amounts assumed from residual markets. Equipment and Leasehold Improvements Property, equipment, leasehold improvements, and software which are included in other assets are carried at cost less accumulated depreciation. Depreciation is provided using the straight- line or accelerated method over the estimated useful lives of the related assets, which range from 3 to 10 years. Amortization of leasehold improvements is provided using the straight-line method over the term of the lease. The costs of computer software developed or obtained for internal use are capitalized and amortized over the estimated life of the business system, beginning when the software is ready for its intended use. Maintenance and repairs are charged to expense as incurred. Losses and Loss Adjustment Expenses Liabilities for losses and loss adjustment expenses (“LAE”) include case basis estimates for open claims reported prior to year- end and estimates of unreported claims and claim adjustment expenses, net of salvage and subrogation. The estimates are continually reviewed and modified to reflect current conditions, and any resulting adjustments are reflected in current operating results. Adjustments for anticipated salvage and subrogation are recorded on incurred and reported and incurred but not reported losses. The Company determines its loss and LAE reserves estimate based upon the analysis of our actuaries. A reasonable estimate is derived by selecting a point estimate within a range of indications as calculated by our actuaries using generally accepted actuarial techniques. The key assumption in most actuarial analysis is that past patterns of frequency and severity will repeat in the future, unless a significant change in the factors described above takes place. Our key factors and resulting assumptions are the ultimate frequency and severity of claims, based upon the most recent ten years of claims reported to the Company, and the data reported to us to calculate our share of the residual market. For each accident year and each coverage within a line of business our actuaries calculate the ultimate losses incurred. Premiums and Unearned Premiums Premiums are earned over the terms of the respective policies, which are generally one year. Unearned premiums represent the portion of premiums written applicable to the unexpired terms of the policies. Ceded premiums are charged to income over the terms of the respective policies and the applicable term of the reinsurance contracts with third-party reinsurers. Ceded unearned premiums represent the unexpired portion of premiums ceded to CAR and other reinsurers. Premiums received in advance of the policy effective date are recorded as a liability and not recognized as income until earned. Such amounts are included in accounts payable and accrued liabilities and totaled $14,628 and $14,649 at December 31, 2019 and 2018, respectively. Reinsurance Liabilities for unearned premiums and unpaid losses are stated before deductions for ceded reinsurance. The ceded amounts are carried as receivables. Earned premiums are stated net of deductions for ceded reinsurance. The Company, as primary insurer, will be required to pay losses in their entirety in the event that the reinsurers are unable to discharge their obligations under the reinsurance agreements. Advertising Costs Advertising costs are charged to expense when they are incurred. Total advertising costs were $2,182, $2,500 and $2,216 for the years ended December 31, 2019, 2018, and 2017, respectively. Finance and Other Service Income Finance and other service income primarily include revenues from premium installment charges, which are recognized when earned. Income Taxes The Company and its subsidiaries file a consolidated U.S. federal income tax return. The method of allocation among members of the consolidated group is subject to a written agreement approved by the Board of Directors (the “Board”). The consolidated tax liability is allocated on the basis of the members’ proportionate contribution to consolidated taxable income. Deferred income taxes are generally recognized when assets and liabilities have different values for financial statement and tax reporting purposes, and for other temporary taxable and deductible differences as defined by Accounting Standards Codification (“ASC”) 740, Income Taxes. On December 22, 2017, the TCJA was enacted, which significantly amends the Internal Revenue Code of 1986. The TCJA, among other things, reduced the corporate tax rate from a statutory rate of 35% to 21%, imposes additional limitations on net operating losses and executive compensation, allows for the full expensing of certain capital expenditures, and enacts other changes impacting the insurance industry. Earnings per Weighted Average Common share Basic earnings per weighted average common share (“EPS”) are calculated by dividing net income by the weighted average number of basic common shares outstanding during the period. Diluted earnings per share amounts are based on the weighted average number of common shares including non-vested performance stock grants. The following table sets forth the computation of basic and diluted EPS for the periods indicated. Years Ended December 31, 2019 2018 2017 Earnings attributable to common shareholders - basic and diluted: Net income from continuing operations $ 99,601 $ 83,195 $ 62,387 Allocation of income for participating shares (523) (496) (392) Net income from continuing operations attributed to common shareholders $ 99,078 $ 82,699 $ 61,995 Earnings per share denominator - basis and diluted Total weighted average common shares outstanding, including participating shares 15,281,363 15,170,754 15,105,558 Less: weighted average participating shares (80,231) (90,485) (94,807) Basic earnings per share denominator 15,201,132 15,080,269 15,010,751 Common equivalent shares- stock options — — — Common equivalent shares- non-vested performance stock grants 136,675 149,629 124,597 Diluted earnings per share denominator 15,337,807 15,229,898 15,135,348 Basic earnings per share $ 6.52 $ 5.48 $ 4.13 Diluted earnings per share $ 6.46 $ 5.43 $ 4.10 Undistributed earnings attributable to common shareholders - basic and diluted: Net income from continuing operations attributable to common shareholders -Basic $ 6.52 $ 5.48 $ 4.13 Dividends declared (3.40) (3.20) (3.00) Undistributed earnings $ 3.12 $ 2.28 $ 1.13 Net income from continuing operations attributable to common shareholders -Diluted $ 6.46 $ 5.43 $ 4.10 Dividends declared (3.40) (3.20) (3.00) Undistributed earnings $ 3.06 $ 2.23 $ 1.10 Diluted EPS excludes non vested performance stock grants with exercise prices and exercise tax benefits greater than the average market price of the Company’s common stock during the period because their inclusion would be anti-dilutive. There were no anti-dilutive stock options or non-vested performance stock grants for the years ended December 31, 2019 and 2018. Share-Based Compensation Accounting Standards Codification (“ASC”) 718, Compensation —Stock Compensation requires the Company to measure and recognize the cost of employee services received in exchange for an award of equity instruments. Under the provisions of ASC 718, share-based compensation cost is measured at the grant date, based on the fair value of the award, and is recognized as an expense over the requisite service period (generally the vesting period of the equity grant). See Note 6 for further information regarding share-based compensation. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Recent Accounting Pronouncements On March 20, 2019, the SEC adopted amendments to Regulation S-K and related rules and forms to modernize and simplify certain disclosure requirements for public companies. The amendments are intended to reduce the costs and burdens of the disclosure process and while continuing to require disclosure of all material information. The amended rules generally were effective on May 2, 2019 and reduced disclosures but some provisions added new requirements. The adoption of the new rules did not have a material impact on the Company’s financial position, results of operations, cash flows, or disclosures. On August 17, 2018, the SEC adopted amendments to eliminate, integrate, update or modify certain of its disclosure requirements. The amendments which are focused on disclosure requirements that have become redundant, duplicative, overlapping, outdated, or superseded, are intended to facilitate the disclosure of information to investors and simplify compliance without significantly altering the total mix of information provided to investors. The amended rules generally reduce disclosures but some provisions added new disclosure requirements. The amendments were effective November 5, 2018. The adoption of the new rules did not have a material In February 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In March 2017, the FASB issued ASU 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities In August 2016, the FASB issued ASU 2016-15 , Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Statements operations with regard to potential credit losses on its Available For Sale investment portfolio and reinsurance recoverables and determined that the impact of adoption will not be material. In March 2016, the FASB issued ASU 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In February 2016, the FASB issued ASU 2016-02, Leases Codification Improvements to Topic 842, Leases Leases (Topic 842): Targeted Improvements In January 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall (Subtopic 825-10), Recognition and Measurement of Financial Assets and Financial Liabilities In May 2014, the FASB issued as final, ASU 2014-09, Revenue from Contracts with Customers (Topic 606) entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The update was effective for interim and annual reporting periods in fiscal years beginning after December 15, 2017. ASU 2014-09 allows for the use of either the retrospective or modified retrospective approach of adoption. The Company adopted the updated guidance effective January 1, 2018 using the modified retrospective approach. The adoption of ASU 2014-09 did not have a material impact on the Company’s financial position, results of operations, cash flows, or disclosures. Segments Segment Reporting,

Investments

Investments	12 Months Ended
Investments	Dec. 31, 2019
Investments
Investments	3. Investments The gross unrealized gains and losses on investments in fixed maturity securities, including redeemable preferred stocks that have characteristics of fixed maturities, and equity securities, including interests in mutual funds, and other invested assets, were as follows for the periods indicated. As of December 31, 2019 Gross Unrealized Losses (3) Cost or Gross Non-OTTI OTTI Estimated Amortized Unrealized Unrealized Unrealized Fair Cost Gains Losses Losses (4) Value U.S. Treasury securities $ 1,504 $ 8 $ — $ — $ 1,512 Obligations of states and political subdivisions 241,597 9,799 — — 251,396 Residential mortgage-backed securities (1) 301,503 6,608 (909) — 307,202 Commercial mortgage-backed securities 106,902 3,233 (397) — 109,738 Other asset-backed securities 36,068 218 (64) — 36,222 Corporate and other securities 504,783 18,455 (1,268) — 521,970 Subtotal, fixed maturity securities 1,192,357 38,321 (2,638) — 1,228,040 Equity securities (2) 151,121 27,879 (1,363) — 177,637 Other invested assets (5) 37,278 — — — 37,278 Totals $ 1,380,756 $ 66,200 $ (4,001) $ — $ 1,442,955 As of December 31, 2018 Gross Unrealized Losses (3) Cost or Gross Non-OTTI OTTI Estimated Amortized Unrealized Unrealized Unrealized Fair Cost Gains Losses Losses (4) Value U.S. Treasury securities $ 1,807 $ — $ (30) $ — $ 1,777 Obligations of states and political subdivisions 262,772 5,098 (1,672) — 266,198 Residential mortgage-backed securities (1) 300,387 1,477 (4,841) — 297,023 Commercial mortgage-backed securities 60,897 337 (898) — 60,336 Other asset-backed securities 61,310 95 (329) — 61,076 Corporate and other securities 488,240 1,775 (14,563) — 475,452 Subtotal, fixed maturity securities 1,175,413 8,782 (22,333) — 1,161,862 Equity securities (2) 142,948 15,419 (10,356) — 148,011 Other invested assets (5) 23,481 — — — 23,481 Totals $ 1,341,842 $ 24,201 $ (32,689) $ — $ 1,333,354 (1) Residential mortgage-backed securities consists primarily of obligations of U.S. Government agencies including collateralized mortgage obligations issued, guaranteed and/or insured by the following issuers: Government National Mortgage Association (GNMA), Federal Home Loan Mortgage Corporation (FHLMC), Federal National Mortgage Association (FNMA) and the Federal Home Loan Bank (FHLB). (2) Equity securities include common stock, preferred stock, mutual funds and interests in mutual funds held to fund the Company’s executive deferred compensation plan. (3) The Company’s investment portfolio included 229 and 958 securities in an unrealized loss position at December 31, 2019 and December 31, 2018, respectively. (4) Amounts in this column represent other-than-temporary impairment (“OTTI”) recognized in accumulated other comprehensive (loss) income. (5) Other invested assets are accounted for under the equity method which approximates fair value. The amortized cost and the estimated fair value of fixed maturity securities, by maturity, are shown below for the period indicated. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. As of December 31, 2019 Amortized Estimated Cost Fair Value Due in one year or less $ 46,850 $ 47,146 Due after one year through five years 309,662 317,821 Due after five years through ten years 306,656 321,000 Due after ten years through twenty years 83,872 87,952 Due after twenty years 846 961 Asset-backed securities 444,471 453,160 Totals $ 1,192,357 $ 1,228,040 The gross realized gains and losses on sales of investments were as follows for the periods indicated. Years Ended December 31, 2019 2018 2017 Gross realized gains Fixed maturity securities $ 1,294 $ 1,022 $ 1,468 Equity securities 4,536 5,129 5,244 Gross realized losses Fixed maturity securities (1,805) (1,878) (504) Equity securities (1,049) (1,047) (172) Net realized gains on investments $ 2,976 $ 3,226 $ 6,036 In the normal course of business, the Company enters into transactions involving various types of financial instruments, including investments in fixed maturities and equity securities. Investment transactions have credit exposure to the extent that a counter party may default on an obligation to the Company. Credit risk is a consequence of carrying, trading and investing in securities. To manage credit risk, the Company focuses on higher quality fixed income securities, reviews the credit strength of all companies in which it invests, limits its exposure in any one investment and monitors the portfolio quality, taking into account credit ratings assigned by recognized statistical rating organizations. The following tables as of December 31, 2019 and 2018 present the gross unrealized losses included in the Company’s investment portfolio and the fair value of those securities aggregated by investment category. The tables also present the length of time that they have been in a continuous unrealized loss position. As of December 31, 2019 Less than 12 Months 12 Months or More Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses Fair Value Losses U.S. Treasury securities $ — $ — $ — $ — $ — $ — Obligations of states and political subdivisions — — — — — — Residential mortgage-backed securities 61,933 409 31,655 500 93,588 909 Commercial mortgage-backed securities 36,398 397 866 — 37,264 397 Other asset-backed securities 21,281 64 462 — 21,743 64 Corporate and other securities 26,386 481 13,718 787 40,104 1,268 Subtotal, fixed maturity securities 145,998 1,351 46,701 1,287 192,699 2,638 Equity securities 8,849 391 14,143 972 22,992 1,363 Total temporarily impaired securities $ 154,847 $ 1,742 $ 60,844 $ 2,259 $ 215,691 $ 4,001 As of December 31, 2018 Less than 12 Months 12 Months or More Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses Fair Value Losses U.S. Treasury securities $ — $ — $ 1,777 $ 30 $ 1,777 $ 30 Obligations of states and political subdivisions 80,856 707 16,049 965 96,905 1,672 Residential mortgage-backed securities 64,101 694 138,572 4,147 202,673 4,841 Commercial mortgage-backed securities 22,652 270 13,117 628 35,769 898 Other asset-backed securities 33,866 112 23,532 217 57,398 329 Corporate and other securities 288,786 10,149 87,546 4,414 376,332 14,563 Subtotal, fixed maturity securities 490,261 11,932 280,593 10,401 770,854 22,333 Equity securities 71,439 9,955 2,072 401 73,511 10,356 Total temporarily impaired securities $ 561,700 $ 21,887 $ 282,665 $ 10,802 $ 844,365 $ 32,689 Other-Than-Temporary Impairments ASC 320, Investments—Debt and Equity Securities The Company holds no subprime mortgage debt securities. All of the Company’s holdings in mortgage-backed securities are either U.S. Government or Agency guaranteed or are rated investment grade by either Moody’s or Standard & Poor’s. The unrealized losses in the Company’s fixed income and equity portfolio as of December 31, 2019 were reviewed for potential other-than-temporary asset impairments. The Company reviews securities with a material (20% or greater) unrealized loss for four or more consecutive quarters that additionally had certain qualitative factors that led to an impairment charge. As a result of our analysis, during the year ended December 31, 2019, the Company recognized $889 of OTTI losses which consisted entirely of credit losses related to fixed maturity securities. During the year ended December 31, 2018, the Company recognized $228 of OTTI losses which consisted entirely of credit losses related to fixed maturity securities. Specific qualitative analysis was also performed for any additional securities appearing on the Company’s “Watch List.” Qualitative analysis considered such factors as the financial condition and the near term prospects of the issuer, whether the debtor is current on its contractually obligated interest and principal payments, changes to the rating of the security by a rating agency and the historical volatility of the fair value of the security. The qualitative analysis performed by the Company concluded that outside of the securities that were recognized through OTTI, the unrealized losses recorded on the investment portfolio at December 31, 2019 resulted from fluctuations in market interest rates and other temporary market conditions as opposed to fundamental changes in the credit quality of the issuers of such securities. Therefore, decreases in fair values of the Company’s securities are viewed as being temporary. The following table summarizes the credit loss recognized in earnings related to fixed maturity securities: Years Ended December 31, 2019 2018 2017 Credit losses on fixed maturity securities, beginning of period $ 844 $ 892 $ 1,094 Add: credit losses on OTTI not previously recognized 889 228 256 Less: credit losses on securities sold (1,064) (276) (458) Less: credit losses on securities impaired due to intent to sell — — — Add: credit losses on previously impaired securities — — — Less: increases in cash flows expected on previously impaired securities — — — Credit losses on fixed maturity securities, end of period $ 669 $ 844 $ 892 At December 31, 2019 and December 31, 2018, there were no amounts included in accumulated other comprehensive income (loss) related to securities which were considered by the Company to be other-than-temporarily impaired. Based upon the qualitative analysis performed, the Company’s decision to hold these securities, the Company’s current level of liquidity and its positive operating cash flows, management believes it is more likely than not that it will not be required to sell any of its securities before the anticipated recovery in the fair value to its amortized cost basis. Net Investment Income The components of net investment income were as follows for the periods indicated. Years Ended December 31, 2019 2018 2017 Interest on fixed maturity securities $ 42,892 $ 40,988 $ 37,246 Dividends on equity securities 5,268 4,500 3,093 Equity in earnings of other invested assets 1,552 1,182 1,016 Interest on other assets 32 62 89 Total Investment Income 49,744 46,732 41,444 Investment expenses 3,079 2,944 2,686 Net investment income $ 46,665 $ 43,788 $ 38,758

Equipment and Leasehold Improve

Equipment and Leasehold Improvements	12 Months Ended
Equipment and Leasehold Improvements	Dec. 31, 2019
Equipment and Leasehold Improvements
Equipment and Leasehold Improvements	4. Equipment and Leasehold Improvements The carrying value of equipment and leasehold improvements by classification was as follows for the periods indicated. As of December 31, 2019 2018 Software $ 42,516 $ 36,161 Computer equipment 12,412 9,195 Leasehold improvements 8,264 8,264 Other equipment 3,132 3,116 Furniture and fixtures 4,134 4,129 Total cost 70,458 60,865 Less accumulated depreciation and amortization 50,447 45,281 Equipment and leasehold improvements, net $ 20,011 $ 15,584

Employee Benefit Plan

Employee Benefit Plan	12 Months Ended
Employee Benefit Plan	Dec. 31, 2019
Employee Benefit Plan
Employee Benefit Plan	5. Employee Benefit Plan

Share-Based Compensation

Share-Based Compensation	12 Months Ended
Share-Based Compensation	Dec. 31, 2019
Share-Based Compensation
Share-Based Compensation	6. Share-Based Compensation 2018 Long Term Incentive Plan On April 2, 2018, the Company’s Board of Directors adopted the Safety Insurance Group, Inc. 2018 Long-Term Incentive Plan (“the 2018 Plan”), which was subsequently approved by our shareholders at the 2018 Annual Meeting of Shareholders. The 2018 Plan enables the grant of stock awards, performance shares, cash-based performance units, other stock-based awards, stock options, stock appreciation rights, and stock unit awards, each of which may be granted separately or in tandem with other awards. Eligibility to participate includes officers, directors, employees and other individuals who provide bona fide services to the Company. The 2018 Plan supersedes the Company’s 2002 Management Omnibus Incentive Plan (“the 2002 Incentive Plan”). The 2018 Plan establishes an initial pool of 350,000 shares of common stock available for issuance to our employees and other eligible participants. The Board of Directors and the Compensation Committee intend to issue awards under the 2018 Plan in the future. The maximum number of shares of common stock between both the 2018 Plan and 2002 Incentive Plan with respect to which awards may be granted is 2,850,000. No further grants will be allowed under the 2002 Incentive Plan. At December 31, 2019, there were 293,031 shares available for future grant. Restricted Stock Service-based restricted stock awarded in the form of unvested shares is recorded at the market value of the Company’s common stock on the grant date and amortized ratably as compensation expense over the requisite service period. Service-based restricted stock awards generally vest over a second service period and independent directors’ stock awards which vest immediately. Our independent directors are subject to stock ownership guidelines, which require them to have a value equal to four times their annual cash retainer. In addition to service-based awards, the Company grants performance-based restricted shares to certain employees. These performance shares cliff vest after a three-year performance period provided certain performance measures are attained. A portion of these awards, which contain a market condition, vest according to the level of total shareholder return achieved by the Company compared to its property-casualty insurance peers over a three-year period. The remainder, which contain a performance condition, vest according to the level of Company’s combined ratio results compared to a target based on its property-casualty insurance peers. Actual payouts can range from 0% to 200% of target shares awarded depending upon the level of achievement of the respective market and performance conditions during a three calendar-year performance period. Compensation expense for share awards with a performance condition is based on the probable number of awards expected to vest using the performance level most likely to be achieved at the end of the performance period. Performance-based awards with market conditions are accounted for and measured differently from awards that have a performance or service condition. The effect of a market condition is reflected in the award’s fair value on the grant date. That fair value is recognized as compensation cost over the requisite service period regardless of whether the market-based performance objective has been satisfied. All of the Company’s restricted stock awards are issued as incentive compensation and are equity classified. The following table summarizes restricted stock activity under the Incentive Plan assuming a target payout for the performance-based shares. Years Ended December 31, 2019 2018 2017 Shares Weighted Shares Weighted Shares Weighted Under Average Under Average Under Average Restriction Fair Value Restriction Fair Value Restriction Fair Value Outstanding at beginning of year 89,135 $ 68.70 93,086 $ 63.13 95,493 $ 55.86 Granted 33,778 92.52 39,451 75.05 40,226 73.42 Vested and unrestricted (44,085) 68.41 (43,276) 62.46 (42,453) 56.56 Forfeited (626) 75.50 (126) 70.63 (180) 63.87 Outstanding at end of period 78,202 $ 79.09 89,135 $ 68.70 93,086 $ 63.13 Years Ended December 31, 2019 2018 2017 Performance-based Weighted Performance-based Weighted Performance-based Weighted Shares Under Average Shares Under Average Shares Under Average Restriction Fair Value Restriction Fair Value Restriction Fair Value Outstanding at beginning of year 105,170 $ 66.79 105,660 $ 62.75 94,610 $ 57.60 Granted (1) 63,447 69.61 31,832 75.14 29,829 74.96 Vested and unrestricted (84,512) 56.42 (27,801) 61.50 (18,259) 53.99 Forfeited — — (4,521) 62.41 (520) 53.99 Outstanding at end of period 84,105 $ 79.34 105,170 $ 66.79 105,660 $ 62.75 (1) Includes a true-up of previously awarded performance-based restricted share awards. The updated shares were calculated based on the attainment of pre-established performance objectives. As of December 31, 2019, there was $6,119 of unrecognized compensation expense related to non-vested restricted stock awards that is expected to be recognized over a weighted average period of 1.5 years. The total fair value of the shares that were vested and unrestricted during the years ended December 31, 2019, 2018, and 2017 was $7,784, $4,413 and $3,387, respectively. For the years ended December 31, 2019, 2018, and 2017, the Company recorded compensation expense related to awards under the Incentive Plan of $4,764, $5,197, and $3,358, net of income tax benefit of $1,266, $1,382, and $1,808, respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2019
Commitments and Contingencies
Commitments and Contingencies	7. Commitments and Contingencies Commitments As part of the Company’s investment activity, we have committed $80,000 to investments in limited partnerships. The Company has contributed $49,587 to these commitments as of December 31, 2019. As of December 31, 2019, the remaining committed capital that could be called is $32,721, which includes potential recallable capital distributions. Contingencies Various claims, generally incidental to the conduct of normal business, are pending or alleged against the Company from time to time. In the opinion of management, based in part on the advice of legal counsel, the ultimate resolution of such claims will not have a material adverse effect on the Company’s consolidated financial statements. However, if estimates of the ultimate resolutions of those proceedings are revised, liabilities related to those proceedings could be adjusted in the near term.

Leases

Leases	12 Months Ended
Leases	Dec. 31, 2019
Leases
Leases	8. Leases The Company has various non-cancelable, long-term operating leases, the largest of which are for office space including the corporate headquarters, VIP claims centers and law offices. Other operating leases consist of auto leases and various office equipment. The Company has no finance leases. Our leases have remaining lease terms of Certain lease agreements contain renewal options and, in addition to the minimum annual rentals, generally provide for payment of a share of the real estate taxes and operating expenses in excess of a base amount. Rental expense for our office space, law offices and VIP claims centers was $4,573, $3,531 and $4,557 for the years ended December 31, 2019, 2018, and 2017, respectively. All leases expire prior to 2029. The Company expects that in the normal course of business, leases that expire will be renewed. The Company adopted ASU 2016-02, ASU 2018-10 and ASU 2018-11 effective January 1, 2019 (“the application date”) using the required modified retrospective transition approach. In accordance with the guidance, the Company has elected not to adjust comparative periods. As such ASC 842 will be applied to each lease that had commenced as of the application date with a cumulative effect adjustment as of that date. All periods before the application date presented in the financial statements will not change and the guidance in ASC 840 will apply. The Company has of practical expedients provided in ASC 842 to all leases. In addition, the Company has Year Ended December 31, 2019 Operating lease cost $ 4,645 Other information related to leases was as follows: Year Ended December 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 5,082 Weighted average remaining lease term Operating leases 8.42 Years Weighted average discount rate Operating leases 2.39% Maturities of lease liabilities were as follows: Operating Leases 2020 $ 4,998 2021 4,798 2022 4,270 2023 3,879 2024 3,875 Thereafter 15,405 Total lease payments 37,225 Less imputed interest (3,227) Total $ 33,998

Debt

Debt	12 Months Ended
Debt	Dec. 31, 2019
Debt
Debt	9. Debt On August 10, 2018, the Company extended its Revolving Credit Agreement (the “Credit Agreement”) with Citizens Bank, N.A. (formerly known as RBS Citizens, N.A. (“Citizens Bank”)) to a maturity date of August 10, 2023. The Credit Agreement provides a $30,000 revolving credit facility with an accordion feature allowing for future expansion of the committed amount up to $50,000 . Loans under the credit facility bear interest at the Company’s option at either (i) the LIBOR rate plus 1.25% per annum or (ii) the higher of Citizens Bank prime rate or 0.5% above the federal funds rate plus 1.25% per annum. Interest only is payable prior to maturity. The Company’s obligations under the credit facility are secured by pledges of its assets and the capital stock of its operating subsidiaries. The credit facility is guaranteed by the Company’s non-insurance company subsidiaries. The credit facility contains covenants including requirements to maintain minimum risk-based capital ratios and statutory surplus of Safety Insurance Company as well as limitations or restrictions on indebtedness, liens, and other matters. As of December 31, 2019, the Company was in compliance with all covenants. In addition, the credit facility includes customary events of default, including a cross-default provision permitting the lenders to accelerate the facility if the Company (i) defaults in any payment obligation under debt having a principal amount in excess of $10,000 or (ii) fails to perform any other covenant permitting acceleration of all such debt. The Company had no amounts outstanding on its credit facility at December 31, 2019 or 2018. The credit facility commitment fee included in interest expense was computed at a rate of 0.25% per annum on the $30,000 commitment at December 31, 2019 and 2018. The Company is a member of the Federal Home Loan Bank of Boston (“FHLB-Boston”). Membership in the FHLB-Boston allows the Company to borrow money at competitive interest rates provided the loan is collateralized by specific U.S Government residential mortgage backed securities. At December 31, 2019, the Company has the ability to borrow approximately $289,507 using eligible invested assets that would be used as collateral. The Company has no amounts outstanding from the FHLB-Boston at December 31, 2019.

Reinsurance

Reinsurance	12 Months Ended
Reinsurance	Dec. 31, 2019
Reinsurance
Reinsurance	10. Reinsurance The Company cedes insurance to CAR and to other reinsurers. The Company has a property catastrophe excess of loss agreement and a casualty excess of loss agreement that qualify as reinsurance treaties and are designed to protect against large or unusual loss and LAE activity. Reinsurance contracts do not relieve the Company from its obligations to policyholders. Failure of reinsurers to honor their obligations could result in losses to the Company. The Company evaluates the financial condition of its reinsurers and monitors economic characteristics of the reinsurers to minimize its exposure to significant losses from reinsurer insolvencies. The Company is subject to concentration of credit risk with respect to reinsurance ceded. At December 31, 2019, reinsurance receivables on paid and unpaid loss and LAE with a carrying value of $130,005 and ceded unearned premiums of $33,587 were associated with CAR. At December 31, 2018, reinsurance receivables on paid and unpaid loss and LAE with a carrying value of $113,544 and ceded unearned premiums of $32,447 were associated with CAR. The Company assumes a proportionate share of the obligations from CAR. The Company makes an estimate of its share of assumed activity from the most recent quarter reported by CAR and records adjustments to the reported activity to reflect its anticipated final assumed obligations. The Company’s participation in CAR resulted in assumed net losses of $3,595, $5,362 and $5,444 for the years ended December 31, 2019, 2018 and 2017, respectively. CAR has been, with few exceptions, required by law to issue a policy to any applicant who seeks it. As a servicing carrier of CAR, this requirement has applied to the Company. The effect of assumed and ceded premiums on net written and earned premiums and losses and LAE incurred is as follows. Years Ended December 31, 2019 2018 2017 Written Premiums Direct $ 852,404 $ 843,675 $ 827,316 Assumed 32,391 32,403 34,214 Ceded (90,386) (89,166) (80,476) Net written premiums $ 794,409 $ 786,912 $ 781,054 Earned Premiums Direct $ 845,102 $ 836,759 $ 818,804 Assumed 32,853 32,196 32,502 Ceded (89,178) (87,368) (76,886) Net earned premiums $ 788,777 $ 781,587 $ 774,420 Loss and LAE Direct $ 562,192 $ 538,569 $ 517,146 Assumed 28,529 28,815 28,003 Ceded (80,875) (81,871) (41,262) Net loss and LAE $ 509,846 $ 485,513 $ 503,887

Loss and Loss Adjustment Expens

Loss and Loss Adjustment Expense Reserves	12 Months Ended
Loss and Loss Adjustment Expense Reserves	Dec. 31, 2019
Loss and Loss Adjustment Expense Reserves
Loss and Loss Adjustment Expense Reserves	11. Loss and Loss Adjustment Expense Reserves The following table sets forth a reconciliation of beginning and ending reserves for losses and loss adjustment expenses (“LAE”), as shown in the Company’s consolidated financial statements for the periods indicated. Year Ended December 31, 2019 2018 2017 Reserves for losses and LAE at beginning of year $ 584,719 $ 574,054 $ 560,321 Less receivable from reinsurers related to unpaid losses and LAE (108,398) (83,085) (83,724) Net reserves for losses and LAE at beginning of year 476,321 490,969 476,597 Incurred losses and LAE, related to: Current year 551,895 542,001 545,671 Prior years (42,049) (56,488) (41,784) Total incurred losses and LAE 509,846 485,513 503,887 Paid losses and LAE related to: Current year 333,377 340,927 325,049 Prior years 164,596 159,234 164,466 Total paid losses and LAE 497,973 500,161 489,515 Net reserves for losses and LAE at end of period 488,194 476,321 490,969 Plus receivable from reinsurers related to unpaid losses and LAE 122,372 108,398 83,085 Reserves for losses and LAE at end of period $ 610,566 $ 584,719 $ 574,054 At the end of each period, the reserves were re-estimated for all prior accident years. The Company’s prior year reserves decreased by $42,049, $56,488, and $41,784 for the years ended December 31, 2019, 2018, and 2017, respectively, and resulted from re-estimations of prior years’ ultimate loss and LAE liabilities. The decrease in prior year reserves during 2019 was primarily composed of reductions of $25,623 in the Company’s retained automobile and $14,182 in the Company’s retained other than auto and homeowners reserves. The decrease in prior year reserves during 2018 was primarily composed of reductions of $36,266 in the Company’s retained automobile and $18,947 in the Company’s retained other than auto and homeowners reserves. The decrease in prior year reserves during 2017 was primarily composed of reductions of $29,855 in the Company’s retained automobile and $10,201 in the Company’s retained homeowners reserves. The Company’s private passenger automobile line of business prior year reserves decreased during the years ended December 31, 2019, 2018 and 2017 primarily due to improved retained private passenger results. The improved retained private passenger results were primarily due to fewer incurred but not yet reported claims than previously estimated and better than previously estimated severity on the Company’s established bodily injury and property damage case reserves. The following is information about incurred and paid claims development as of December 31, 2019, net of reinsurance, as well as cumulative claim frequency and the total of incurred-but-not-reported liabilities plus expected development on reported claims included within the net incurred claims amounts for our three largest lines of business. The cumulative number of reported claims include claims closed with payment, claims closed without payment and all open claims. It does not include anticipated IBNR claims. For the Private Passenger Automobile and Commercial Automobile lines of business, claim count is defined on a claimant basis where several claim counts may arise from a single auto accident. For Homeowners and all other lines of business, claim count is defined on an accident basis. The information about incurred claims and allocated claim adjustment expense, net of reserves and paid ultimate claims development for the years ended December 31, 2010 to 2018 is presented as unaudited supplementary information. Private Passenger Automobile Liability Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance As of December 31, 2019 For the Years Ended December 31, Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims Cumulative Number of Reported Claims Accident Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (Unaudited) 2010 $ 169,426 $ 172,558 $ 171,978 $ 170,089 $ 166,195 $ 164,723 $ 163,206 $ 162,679 $ 161,236 $ 161,212 $ - 54,933 2011 176,727 176,906 176,906 175,209 172,957 171,852 170,732 168,671 168,625 - 56,124 2012 175,262 175,189 174,856 170,379 167,831 166,008 163,350 162,448 (334) 53,273 2013 183,367 183,517 183,264 181,492 179,167 176,713 175,684 (1,155) 54,248 2014 187,305 187,104 186,798 183,119 181,312 179,251 (1,531) 52,787 2015 190,036 190,236 188,317 184,477 181,299 (1,082) 52,976 2016 192,912 192,318 185,009 180,486 (2,625) 49,368 2017 185,673 184,429 182,068 (9,052) 46,154 2018 176,411 175,222 (10,581) 42,785 2019 176,171 (7,596) 37,565 Total $ 1,742,466 Private Passenger Automobile Liability Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance For the Years Ended December 31, Accident Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (Unaudited) 2010 $ 73,721 $ 126,734 $ 142,688 $ 153,408 $ 157,887 $ 160,192 $ 160,859 $ 161,080 $ 161,114 $ 161,112 2011 76,467 130,018 146,532 158,904 164,413 167,251 168,025 168,585 168,593 2012 74,306 126,553 144,157 152,991 157,443 160,416 161,749 162,014 2013 79,049 135,031 152,472 163,694 169,634 172,736 173,890 2014 79,151 136,434 156,693 166,815 173,163 176,616 2015 76,934 138,255 156,483 168,641 173,816 2016 78,862 137,917 154,964 167,458 2017 77,519 133,037 153,675 2018 72,895 126,456 2019 72,219 Total $ 1,535,849 All outstanding liabilities before 2010, net of reinsurance 347 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 206,964 Private Passenger Automobile Physical Damage Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance As of December 31, 2019 For the Years Ended December 31, Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims Cumulative Number of Reported Claims Accident Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (Unaudited) 2010 $ 101,456 $ 98,463 $ 96,642 $ 96,485 $ 96,385 $ 96,366 $ 96,325 $ 96,323 $ 96,335 $ 96,309 $ - 128,202 2011 118,131 117,951 115,028 113,821 113,765 113,674 113,677 113,640 113,630 - 140,509 2012 108,376 107,912 104,393 103,679 103,575 103,547 103,510 103,491 - 123,639 2013 114,389 114,239 113,034 112,197 112,096 112,060 112,029 - 131,703 2014 123,421 123,622 122,410 122,327 122,341 122,213 (38) 135,006 2015 140,219 136,661 134,101 133,737 133,581 (58) 144,272 2016 129,528 124,922 122,116 121,717 (78) 126,080 2017 128,340 126,304 124,128 (206) 123,989 2018 129,450 130,145 (3,085) 119,644 2019 128,698 (21,574) 113,983 Total $ 1,185,941 Private Passenger Automobile Physical Damage Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance For the Years Ended December 31, Accident Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (Unaudited) 2010 $ 101,635 $ 98,445 $ 96,587 $ 96,444 $ 96,369 $ 96,335 $ 96,325 $ 96,317 $ 96,306 $ 96,309 2011 126,196 117,152 114,451 113,809 113,719 113,673 113,669 113,640 113,630 2012 111,928 107,017 104,311 103,664 103,573 103,537 103,510 103,491 2013 120,843 115,904 112,894 112,162 112,085 112,060 112,029 2014 130,732 126,414 122,668 122,402 122,350 122,251 2015 143,532 136,760 134,066 133,701 133,639 2016 133,530 124,298 122,023 121,795 2017 132,409 126,822 124,286 2018 138,036 132,591 2019 134,429 Total $ 1,194,450 All outstanding liabilities before 2010, net of reinsurance - Liabilities for claims and claim adjustment expenses, net of reinsurance $ (8,509) Commercial Automobile Liability Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance As of December 31, 2019 For the Years Ended December 31, Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims Cumulative Number of Reported Claims Accident Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (Unaudited) 2010 $ 20,150 $ 19,922 $ 19,493 $ 19,576 $ 19,763 $ 19,285 $ 19,034 $ 18,725 $ 18,495 $ 18,547 $ 10 4,531 2011 23,658 24,298 24,160 24,187 23,649 22,933 22,817 22,759 22,488 25 4,958 2012 23,704 24,447 24,662 24,723 24,572 23,819 22,859 22,476 358 4,566 2013 29,175 29,541 28,377 26,864 26,310 25,986 25,443 421 5,783 2014 34,117 34,105 34,376 33,914 32,948 32,438 53 6,085 2015 35,371 36,150 36,610 37,730 38,015 (620) 7,211 2016 37,954 39,416 40,947 40,916 (821) 6,452 2017 42,865 41,373 41,055 1,263 6,123 2018 41,347 40,115 5,365 5,700 2019 51,679 14,371 4,895 Total $ 333,172 Commercial Automobile Liability Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance For the Years Ended December 31, Accident Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (Unaudited) 2010 $ 6,466 $ 11,520 $ 13,816 $ 15,821 $ 17,351 $ 17,892 $ 18,113 $ 18,269 $ 18,280 $ 18,297 2011 7,306 14,263 17,807 19,783 20,941 21,913 22,043 22,445 22,463 2012 6,503 12,474 15,617 17,804 18,876 20,601 21,021 22,086 2013 8,502 17,079 19,625 21,129 22,434 23,867 24,507 2014 9,426 17,853 21,968 25,253 27,886 30,420 2015 11,181 21,700 26,018 29,804 31,537 2016 9,991 19,902 25,711 32,274 2017 10,407 20,106 24,409 2018 9,704 18,499 2019 12,113 Total $ 236,605 All outstanding liabilities before 2010, net of reinsurance - Liabilities for claims and claim adjustment expenses, net of reinsurance $ 96,567 Commercial Automobile Physical Damage Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance As of December 31, 2019 For the Years Ended December 31, Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims Cumulative Number of Reported Claims Accident Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (Unaudited) 2010 $ 10,048 $ 9,963 $ 9,893 $ 9,892 $ 10,077 $ 9,955 $ 9,916 $ 9,990 $ 9,990 $ 10,025 $ - 10,664 2011 11,511 11,151 11,031 10,960 10,952 10,910 10,952 11,024 11,048 - 11,488 2012 10,382 10,382 10,331 10,249 10,250 10,208 10,209 10,226 - 9,913 2013 13,666 13,567 13,298 13,180 13,057 13,047 13,071 5 12,298 2014 17,426 16,925 15,455 15,419 15,353 15,381 5 13,545 2015 20,223 19,047 19,021 18,974 18,641 100 15,468 2016 20,216 18,506 17,909 17,808 96 13,593 2017 19,691 19,200 19,021 103 13,112 2018 21,230 19,937 91 12,897 2019 20,039 220 12,010 Total $ 155,197 Commercial Automobile Physical Damage Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance For the Years Ended December 31, Accident Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (Unaudited) 2010 $ 9,398 $ 10,219 $ 10,053 $ 10,039 $ 10,028 $ 10,025 $ 10,027 $ 10,026 $ 10,026 $ 10,025 2011 11,006 11,119 11,092 11,060 11,055 11,053 11,050 11,049 11,048 2012 9,707 10,553 10,270 10,242 10,239 10,235 10,228 10,226 2013 12,665 13,378 13,114 13,074 13,065 13,060 13,066 2014 15,377 15,862 15,424 15,388 15,381 15,376 2015 17,787 18,910 18,667 18,549 18,541 2016 17,228 18,143 17,763 17,712 2017 17,957 19,336 18,915 2018 18,842 19,842 2019 18,128 Total $ 152,879 All outstanding liabilities before 2010, net of reinsurance - Liabilities for claims and claim adjustment expenses, net of reinsurance $ 2,318 Homeowners Liability Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance As of December 31, 2019 For the Years Ended December 31, Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims Cumulative Number of Reported Claims Accident Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (Unaudited) 2010 $ 5,591 $ 5,422 $ 5,422 $ 4,888 $ 4,717 $ 4,098 $ 3,735 $ 3,612 $ 3,457 $ 3,457 $ - 217 2011 6,260 7,644 7,644 7,531 6,923 6,017 5,546 4,845 4,845 - 304 2012 7,514 7,514 7,514 6,464 5,304 4,331 3,824 3,889 - 249 2013 9,768 9,768 9,337 7,578 5,978 5,312 5,147 (79) 264 2014 11,494 11,494 9,738 7,388 7,120 6,984 92 261 2015 12,965 12,555 9,908 9,201 9,201 (483) 287 2016 10,594 10,594 10,594 9,847 867 272 2017 11,276 10,058 9,328 346 265 2018 9,951 9,951 (1,402) 242 2019 14,130 5,132 208 Total $ 76,779 Homeowners Liability Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance For the Years Ended December 31, Accident Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (Unaudited) 2010 $ 963 $ 1,420 $ 2,684 $ 2,890 $ 3,214 $ 3,425 $ 3,472 $ 3,457 $ 3,457 $ 3,457 2011 235 1,969 3,459 4,336 4,497 4,536 4,758 4,769 4,769 2012 1,389 2,063 2,308 2,731 3,029 3,600 3,606 3,646 2013 527 2,337 3,080 3,493 3,829 4,038 4,209 2014 340 1,834 3,212 4,200 4,828 6,315 2015 428 3,319 4,267 5,205 6,445 2016 647 2,669 4,257 5,387 2017 305 1,676 2,913 2018 551 2,039 2019 1,634 Total $ 40,814 All outstanding liabilities before 2010, net of reinsurance 3 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 35,968 Homeowners Property Damage Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance As of December 31, 2019 For the Years Ended December 31, Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims Cumulative Number of Reported Claims Accident Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (Unaudited) 2010 $ 45,342 $ 44,550 $ 43,021 $ 40,868 $ 39,921 $ 39,658 $ 39,501 $ 39,501 $ 39,097 $ 39,097 $ 173 6,685 2011 95,586 98,021 97,571 94,657 93,914 93,186 92,595 92,388 92,387 204 15,116 2012 50,351 49,911 47,392 44,380 43,097 42,382 41,895 41,887 148 6,051 2013 56,298 56,199 55,722 52,464 51,077 49,973 49,463 100 5,698 2014 59,160 60,213 59,751 57,331 55,127 54,607 284 6,077 2015 152,586 152,049 162,377 162,788 162,722 434 20,075 2016 67,116 66,442 64,208 61,262 1,334 5,419 2017 80,736 76,560 70,689 316 6,006 2018 83,443 82,581 (3,163) 8,223 2019 77,976 2,127 5,184 Total $ 732,671 Homeowners Property Damage Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance For the Years Ended December 31, Accident Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (Unaudited) 2010 $ 25,761 $ 37,447 $ 38,790 $ 39,110 $ 39,145 $ 39,203 $ 39,235 $ 39,235 $ 38,923 $ 38,923 2011 71,532 89,741 92,184 92,462 92,444 92,333 92,182 92,182 92,182 2012 30,801 40,681 41,960 41,737 41,782 41,789 41,736 41,736 2013 38,661 48,456 49,702 49,612 49,653 49,620 49,328 2014 40,409 52,161 54,088 54,224 54,262 54,274 2015 112,563 145,337 160,572 161,745 161,773 2016 44,103 57,238 59,155 59,449 2017 46,366 64,401 66,181 2018 57,704 70,959 2019 49,121 Total $ 683,926 All outstanding liabilities before 2010, net of reinsurance 506 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 49,251 The following is unaudited supplementary information about average historical claims duration as of December 31, 2019. Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (Unaudited) Years 1 2 3 4 5 6 7 8 9 10 Private Passenger Automobile Liability 43.7% 32.0% 10.3% 6.5% 3.1% 1.7% 0.6% 0.2% 0.0% 0.0% Private Passenger Automobile Physical Damage 107.4% -5.1% -2.3% -0.4% -0.1% 0.0% 0.0% 0.0% 0.0% 0.0% Commercial Automobile Liability 27.5% 26.3% 12.5% 10.6% 5.9% 5.9% 1.6% 2.6% 0.1% 0.1% Commercial Automobile Physical Damage 95.4% 5.5% -1.9% -0.3% -0.1% 0.0% 0.0% 0.0% 0.0% 0.0% Homeowners Liability 9.1% 22.3% 16.9% 11.5% 8.9% 10.4% 2.6% 0.3% 0.0% 0.0% Homeowners Property Damage 70.6% 21.2% 4.8% 0.4% 0.0% 0.0% -0.2% 0.0% -0.2% 0.0% The reconciliation of the net incurred and paid claims development tables to the liability for claims and claim adjustment expenses in the consolidated balance sheets is as follows. Reconciliation of the Disclosure of Incurred and Paid Claims Development to the Liability for Unpaid claims and Claim Adjustment Expenses December 31, 2019 Net outstanding liabilities Private Passenger Automobile Liability $ 206,964 Private Passenger Automobile Physical Damage (8,509) Commercial Automobile Liability 96,567 Commercial Automobile Physical Damage 2,318 Homeowners Liability 35,968 Homeowners Property Damage 49,251 Other Short-Duration Insurance Lines 75,455 Liabilities for unpaid claims and claim adjustment expenses, net of reinsurance $ 458,014 Reinsurance recoverable on unpaid claims Private Passenger Automobile Liability $ 238 Private Passenger Automobile Physical Damage - Commercial Automobile Liability 116,756 Commercial Automobile Physical Damage 2,255 Homeowners Liability - Homeowners Property Damage 1 Other Short-Duration Insurance Lines 3,122 Total reinsurance recoverable on unpaid claims $ 122,372 Unallocated claims adjustment expenses 30,180 Total gross liability for unpaid claims and claim adjustment expenses $ 610,566 Due to the nature of the risks that the Company underwrites and has historically underwritten, management does not believe that it has an exposure to asbestos or environmental pollution liabilities.

Income Taxes

Income Taxes	12 Months Ended
Income Taxes	Dec. 31, 2019
Income Taxes
Income Taxes	12. Income Taxes A summary of the income tax expense in the Consolidated Statements of Operations is shown below. Years Ended December 31, 2019 2018 2017 Current Income Taxes: Federal $ 19,280 $ 26,548 $ 22,198 State 43 108 30 19,323 26,656 22,228 Deferred Income Taxes: Federal 4,757 (5,600) 2,085 State — — — 4,757 (5,600) 2,085 Total income tax expense $ 24,080 $ 21,056 $ 24,313 The income tax expense attributable to the consolidated results of operations is different from the amounts determined by multiplying income before federal income taxes by the statutory federal income tax rate. The sources of the difference and the tax effects of each were as follows for the periods indicated. Years Ended December 31, 2019 2018 2017 Federal income tax expense at statutory rate $ 25,973 $ 21,893 $ 30,345 Tax‑exempt investment income, net (1,626) (1,862) (4,123) State taxes, net 34 85 19 Nondeductible expenses 488 494 237 Remeasurement of deferred tax liability upon enactment of the TCJA — — (1,540) Tax windfall related to share-based stock compensation (1,003) (79) (333) Other, net 214 525 (292) Total income tax expense $ 24,080 $ 21,056 $ 24,313 The deferred income tax (liability) asset represents the tax effects of temporary differences attributable to the Company’s consolidated federal tax return group. Its components were as shown in the following table for the periods indicated. Years Ended December 31, 2019 2018 Deferred tax assets: Discounting of loss reserves $ 5,642 $ 5,688 Discounting of unearned premium reserve 17,710 17,475 Investments — 1,972 Bad debt allowance 274 274 Employee benefits 4,340 4,159 Rent incentive 1,063 1,181 Total deferred tax assets before valuation allowance 29,029 30,749 Valuation allowance for deferred tax assets — — Total deferred tax assets 29,029 30,749 Deferred tax liabilities: Deferred acquisition costs (15,600) (15,405) Investments (1,744) — Net unrealized gains on investments (11,985) (1,645) Loss reserve transition adjustment (1,662) (2,229) Software development costs (2,109) (1,268) Premium acquisition expenses (509) (512) Depreciation (1,137) (941) Total deferred tax liabilities (34,746) (22,000) Net deferred tax (liability) asset $ (5,717) $ 8,749 The Company believes that the positions taken on its income tax returns for open tax years will be sustained upon examination by the Internal Revenue Service (“IRS”). Therefore, the Company has not recorded any liability for uncertain tax positions under ASC 740, Income Taxes During the years ended December 31, 2019 and December 31, 2018 there were no material changes to the amount of the Company’s unrecognized tax benefits or to any assumptions regarding the amount of its ASC 740 liability. As of December 31, 2019 and December 31, 2018, the Company had no unrecognized tax benefits, and none which if recognized would affect the effective tax rate. The Company does not currently anticipate significant changes in the amount of unrecognized income tax benefits during the next twelve months. The Company records interest and penalties associated with audits as a component of income before income taxes. Penalties are recorded in underwriting, operating and other expenses, and interest expense is recorded in interest expenses in the Consolidated Statements of Operations. The Company had no interest and penalties related to income taxes accrued as of December 31, 2019 and 2018. On December 22, 2017, the TCJA was enacted, which significantly amended the Internal Revenue Code of 1986. The TCJA, among other things, reduced the corporate tax rate from a statutory rate of 35% to 21%, imposed additional limitations on net operating losses and executive compensation, allowed for the full expensing of certain capital expenditures and enacted other changes impacting the insurance industry.

Share Repurchase Program

Share Repurchase Program	12 Months Ended
Share Repurchase Program	Dec. 31, 2019
Share Repurchase Program
Share Repurchase Program	13. Share Repurchase Program On August 3, 2007, the Board of Directors approved a share repurchase program of up to $30,000 of the Company’s outstanding common shares. As of December 31, 2019, the Board of Directors had cumulatively authorized increases to the existing share repurchase program of up to $150,000 of its outstanding common shares. Under the program, the Company may repurchase shares of its common stock for cash in public or private transactions, in the open market or otherwise. The timing of such repurchases and actual number of shares repurchased will depend on a variety of factors including price, market conditions and applicable regulatory and corporate requirements. The program does not require the Company to repurchase any specific number of shares and it may be modified, suspended or terminated at any time without prior notice. No share purchases were made by the Company under the program during the years ended December 31, 2019 and December 31, 2018. As of December 31, 2019, the Company had purchased 2,279,570 shares on the open market at a cost of $83,835.

Statutory Net Income and Surplu

Statutory Net Income and Surplus	12 Months Ended
Statutory Net Income and Surplus	Dec. 31, 2019
Statutory Net Income and Surplus
Statutory Net Income and Surplus	14. Statutory Net Income and Surplus Statutory Accounting Practices The Company’s insurance company subsidiaries, domiciled in the Commonwealth of Massachusetts, prepare statutory financial statements in accordance with the accounting practices prescribed or permitted by the Division. Prescribed statutory accounting practices are those practices that are incorporated directly or by reference in state laws, regulations, and general administrative rules applicable to all insurance enterprises domiciled in a particular state. Permitted statutory accounting practices include practices not prescribed by the Division, but allowed by the Division. Statutory net income was $75,469, $86,734, and $57,982 for the years ended December 31, 2019, 2018, and 2017, respectively. Statutory capital and surplus of the Company’s insurance subsidiaries was $704,177, and $646,820 at December 31, 2019 and 2018, respectively. Dividends The Insurance Subsidiaries are subject to various regulatory restrictions that limit the maximum amount of dividends available to be paid to their parent without prior approval of the Commonwealth of Massachusetts Commissioner of Insurance (the “Commissioner”). Massachusetts statute limits the dividends an insurer may pay in any twelve month period, without the prior permission of the Commissioner, to the greater of (i) 10% of the insurer’s surplus as of the preceding December 31 or (ii) the insurer’s net income for the twelve- month period ending the preceding December 31, in each case determined in accordance with statutory accounting practices. Our insurance company subsidiaries may not declare an “extraordinary dividend” (defined as any dividend or distribution that, together with other distributions made within the preceding twelve months, exceeds the limits established by Massachusetts statute) until thirty days after the Commissioner has received notice of the intended dividend and has not objected. As historically administered by the Commissioner, this provision requires the Commissioner’s prior approval of an extraordinary dividend. Under Massachusetts law, an insurer may pay cash dividends only from its unassigned funds, also known as earned surplus, and the insurer’s remaining surplus must be both reasonable in relation to its outstanding liabilities and adequate to its financial needs. At December 31, 2019, the statutory capital and surplus of Safety Insurance was $704,177 and its net income for 2019 was $75,469. As a result, a maximum of $75,469 is available in 2020 for such dividends without prior approval of the Commissioner. During the year ended December 31, 2019, Safety Insurance recorded dividends of $47,585. As result of this Massachusetts statute, the Insurance Subsidiaries had restricted net assets in the amount of $628,708 at December 31, 2019. Risk-Based Capital Requirements The NAIC has adopted a formula and model law to implement risk-based capital requirements for most property and casualty insurance companies, which are designed to determine minimum capital requirements and to raise the level of protection that statutory surplus provides for policyholder obligations. Under Massachusetts law, insurers having less total adjusted capital than that required by the risk-based capital calculation will be subject to varying degrees of regulatory action, depending on the level of capital inadequacy. The risk-based capital law provides for four levels of regulatory action. The extent of regulatory intervention and action increases as the level of total adjusted capital to risk-based capital falls. As of December 31, 2019, the Insurance Subsidiaries had total adjusted capital of $704,177, which is in excess of amounts requiring company or regulatory action at any prescribed risk-based capital action level. Minimum statutory capital and surplus, or company action level risk-based capital, was $184,601 at December 31, 2019.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
Fair Value of Financial Instruments	Dec. 31, 2019
Fair Value of Financial Instruments
Fair Value of Financial Instruments	15. Fair Value of Financial Instruments ASC 820, Fair Value Measurements and Disclosure Level 1 — Valuations based on quoted prices in active markets for identical assets and liabilities; Level 2 — Valuations based on observable inputs that do not meet the criteria for Level 1, including quoted prices in inactive markets and quoted prices in active markets for similar, but not identical instruments; and Level 3 — Valuations based on unobservable inputs. Fair values for the Company’s fixed maturity securities are based on prices provided by its custodian bank and its investment managers. Both the Company’s custodian bank and investment managers use a variety of independent, nationally recognized pricing services to determine market valuations. If the pricing service cannot provide fair value determinations, the Company obtains non-binding price quotes from broker-dealers. A minimum of two quoted prices is obtained for the majority of the Company’s available-for-sale fixed maturity securities in its investment portfolio. The Company uses a third-party pricing service as its primary provider of quoted prices from third-party pricing services and broker-dealers. To provide reasonable assurance of the validity of each price or quote, a secondary third-party pricing service or broker-dealer quote is obtained from the Company’s custodian or investment managers. An examination of the pricing data is then performed for each security. If the variance between the primary and secondary price quotes for a security is within an accepted tolerance level, the quoted price obtained from the Company’s primary source is used for the security. If the variance between the primary and secondary price quotes exceeds an accepted tolerance level, the Company obtains a quote from an alternative source, if possible, and documents and resolves any differences between the pricing sources. In addition, the Company may request that its investment managers and its traders provide input as to which vendor is providing prices that its traders believe are reflective of fair value for the security. Following this process, the Company may decide to value the security in its financial statements using the secondary or alternative source if it believes that pricing is more reflective of the security’s value than the primary pricing provided by its custodian bank. The Company analyzes market valuations received to verify reasonableness, to understand the key assumptions used and their sources, and to determine an appropriate ASC 820 fair value hierarchy level based upon trading activity and the observability of market inputs. Based on this evaluation and investment class analysis, each price is classified into Level 1, 2 or 3. Fair values of instruments are based on (i) quoted prices in active markets for identical assets (Level 1), (ii) quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations in which all significant inputs are observable in active markets (Level 2) or (iii) valuations derived from valuation techniques in which one or more significant inputs are unobservable in the marketplace (Level 3). The Company’s Level 1 securities consist of equity securities whose values are based on quoted prices in active markets for identical assets. The Company’s Level 2 securities are comprised of available-for-sale fixed maturity securities whose fair value was determined using observable market inputs. The Company’s Level 3 security consists of an investment in the Federal Home Loan Bank of Boston related to Safety Insurance Company’s membership stock, which is not redeemable in a short-term time frame. Fair values for securities for which quoted market prices were unavailable were estimated based upon reference to observable inputs such as benchmark interest rates, market comparables, and other relevant inputs. Investments valued using these inputs include U.S. Treasury securities, obligations of states and political subdivisions, corporate and other securities, commercial and residential mortgage-backed securities, and other asset-backed securities. Inputs into the fair value application that are utilized by asset class include but are not limited to: ● Obligations of states and political subdivisions ● Corporate and other securities ● Residential mortgage-backed securities ● Commercial mortgage-backed securities ● Other asset-backed securities ● FHLB-Boston In order to ensure the fair value determination is representative of an exit price (consistent with ASC 820), the Company’s procedures for validating quotes or prices obtained from third parties include, but are not limited to, obtaining a minimum of two price quotes for each fixed maturity security if possible, as discussed above, the periodic testing of sales activity to determine if there are any significant differences between the market price used to value the security as of the balance sheet date and the sales price of the security for sales that occurred around the balance sheet date, and the periodic review of reports provided by its external investment manager regarding those securities with ratings changes and securities placed on its “Watch List.” In addition, valuation techniques utilized by pricing services and prices obtained from external sources are reviewed by the Company’s external investment manager, whose investment professionals are familiar with the securities being priced and the markets in which they trade, to ensure the fair value determination is representative of an exit price (consistent with ASC 820). All unadjusted estimates of fair value for our fixed maturities priced by the pricing services as described above are included in the amounts disclosed in Level 2. With the exception of the FHLB-Boston security, which is categorized as a Level 3 security, the Company’s entire portfolio was priced based upon quoted market prices or other observable inputs as of December 31, 2019. There were no significant changes to the valuation process during the year ended December 31, 2019. As of December 31, 2019 and December 31, 2018, no quotes or prices obtained were adjusted by management. All broker quotes obtained were non-binding. At December 31, 2019 and December 31, 2018, investments in fixed maturities classified as available-for-sale had a fair value which equaled carrying value of $1,228,040 and $1,161,862 , respectively. At December 31, 2019 and December 31, 2018, we held no short-term investments. The carrying values of cash and cash equivalents and investment income accrued approximated fair value. The following tables summarize the Company’s total fair value measurements for investments for the periods indicated. As of December 31, 2019 Total Level 1 Inputs Level 2 Inputs Level 3 Inputs U.S. Treasury securities $ 1,512 $ — $ 1,512 $ — Obligations of states and political subdivisions 251,396 — 251,396 — Residential mortgage-backed securities 307,202 — 307,202 — Commercial mortgage-backed securities 109,738 — 109,738 — Other asset-backed securities 36,222 — 36,222 — Corporate and other securities 521,970 — 521,970 — Equity securities 144,877 144,361 — 516 Total investment securities $ 1,372,917 $ 144,361 $ 1,228,040 $ 516 As of December 31, 2018 Total Level 1 Inputs Level 2 Inputs Level 3 Inputs U.S. Treasury securities $ 1,777 $ — $ 1,777 $ — Obligations of states and political subdivisions 266,198 — 266,198 — Residential mortgage-backed securities 297,023 — 297,023 — Commercial mortgage-backed securities 60,336 — 60,336 — Other asset-backed securities 61,076 — 61,076 — Corporate and other securities 475,452 — 475,452 — Equity securities 116,173 115,493 — 680 Total investment securities $ 1,278,035 $ 115,493 $ 1,161,862 $ 680 There were no transfers between Level 1 and Level 2 The following tables summarize the changes in the Company’s Level 3 fair value securities for the periods indicated. Years Ended December 31, 2019 2018 2017 Balance at beginning of period $ 680 $ 680 $ 678 Net gains and losses included in earnings — — — Net gains included in other comprehensive income — — — Purchases 133 — 2 Sales (297) — — Transfers into Level 3 — — — Transfers out of Level 3 — — — Balance at end of period $ 516 $ 680 $ 680 Transfers in and out of Level 3 are attributable to changes in the ability to observe significant inputs in determining fair value exit pricing. As noted in the table above, no transfers were made in or out of Level 3 during 2019, 2018 and 2017. The Company held one Level 3 security at December 31, 2019. As of December 31, 2019 and December 31, 2018, there were approximately $32,760 and $31,838 in a real estate investment trust (“REIT”). The REIT is excluded from the fair value hierarchy because the fair value is recorded using the net asset value per share practical expedient. The net asset value per share of this REIT is derived from member ownership in the capital venture to which a proportionate share of independently appraised net assets is attributed. The fair value was determined using the trust’s net asset value obtained from its audited financial statements. The Company is required to submit a request 45 days before a quarter end to dispose of the security.

Quarterly Results of Operations

Quarterly Results of Operations	12 Months Ended
Quarterly Results of Operations	Dec. 31, 2019
Quarterly Results of Operations
Quarterly Results of Operations	16. Quarterly Results of Operations (Unaudited) An unaudited summary of the Company’s 2019 and 2018 quarterly performance, and audited annual performance, is as follows. Year ended December 31, 2019 First Second Third Fourth Total Quarter Quarter Quarter Quarter Year Total revenue $ 222,579 $ 216,002 $ 215,273 $ 223,899 $ 877,753 Net income 29,946 25,934 15,619 28,102 99,601 Earnings per weighted average common share: Basic 1.97 1.70 1.02 1.84 6.52 Diluted 1.95 1.68 1.01 1.82 6.46 Cash dividends paid per common share 0.80 0.80 0.90 0.90 3.40 Year ended December 31, 2018 First Second Third Fourth Total Quarter Quarter Quarter Quarter Year Total revenue $ 209,719 $ 207,970 $ 215,907 $ 202,901 $ 836,497 Net income 9,125 26,816 28,908 18,346 83,195 Earnings per weighted average common share: Basic 0.60 1.77 1.90 1.21 5.48 Diluted 0.60 1.75 1.88 1.19 5.43 Cash dividends paid per common share 0.80 0.80 0.80 0.80 3.20

Subsequent Event

Subsequent Event	12 Months Ended
Subsequent Event	Dec. 31, 2019
Subsequent Event
Subsequent Event	17. Subsequent Events The Company has evaluated subsequent events for recognition or disclosure in the consolidated financial statements on Form 10-K filed herewith and no events have occurred that require recognition or disclosure.

Schedule I - Summary of Investm

Schedule I - Summary of Investments - Other than Investments in Related Parties	12 Months Ended
	Dec. 31, 2019
Schedule I - Summary of Investments - Other than Investments in Related Parties
Schedule I - Summary of Investments - Other than Investments in Related Parties	Safety Insurance Group, Inc. Summary of Investment s —Other than Investments in Related Parties Schedule I At December 31, 2019 (Dollars in thousands) Amount at which shown Cost or Estimated in the Balance Amortized Cost Fair Value Sheet Fixed maturities: U.S. government and government agencies and authorities $ 303,007 $ 308,714 $ 308,714 Obligations of states and political subdivisions 241,597 251,396 251,396 Corporate and other securities 647,753 667,930 667,930 Total fixed maturities 1,192,357 1,228,040 1,228,040 Equity securities: Common stocks: Industrial, miscellaneous and all other 151,121 177,637 177,637 Total equity securities 151,121 177,637 177,637 Other invested assets 37,278 37,278 37,278 Total investments $ 1,380,756 $ 1,442,955 $ 1,442,955

Schedule II - Condensed Financi

Schedule II - Condensed Financial Information of the Registrant	12 Months Ended
	Dec. 31, 2019
Schedule II - Condensed Financial Information of the Registrant
Schedule II - Condensed Financial Information of the Registrant	Safety Insurance Group, Inc. Condensed Financial Information of the Registran t Condensed Balance Sheets Schedule II (Dollars in thousands) Years Ended December 31, 2019 2018 Assets Investments in consolidated affiliates $ 810,251 $ 720,721 Other 54 69 Total assets $ 810,305 $ 720,790 Liabilities Accounts payable and other liabilities $ 1,899 $ 2,146 Total liabilities 1,899 2,146 Shareholders’ equity 808,406 718,644 Total liabilities and shareholders’ equity $ 810,305 $ 720,790 Safety Insurance Group, Inc. Condensed Financial Information of the Registrant Condensed Statements of Operations and Comprehensive Income Schedule II (Dollars in thousands) Years Ended December 31, 2019 2018 2017 Revenues $ — $ — $ — Expenses 1,694 1,695 1,494 Net loss (1,694) (1,695) (1,494) Earnings from consolidated subsidiaries 101,295 84,890 63,881 Net income 99,601 83,195 62,387 Other comprehensive income (loss), net of tax 38,896 (22,816) 8,426 Comprehensive income $ 138,497 $ 60,379 $ 70,813 Safety Insurance Group, Inc. Condensed Financial Information of the Registrant Condensed Statements of Cash Flows Schedule II (Dollars in thousands) Years Ended December 31, 2019 2018 2017 Net income $ 99,601 $ 83,195 $ 62,387 Adjustments to reconcile net income to net cash provided by operating activities: Earnings from consolidated subsidiaries (101,295) (84,890) (63,881) Dividends received from consolidated subsidiaries(1) 47,585 45,271 41,826 Amortization of restricted stock expense 6,514 5,789 5,367 Changes in assets and liabilities: Other assets 15 (60) 15 Accounts payable and accrued liabilities 247 (492) (254) Net cash provided by operating activities 52,667 48,813 45,460 Proceeds from exercise of stock options — — — Excess tax benefit from stock options exercised — — — Dividends paid (52,667) (48,813) (45,460) Acquisition of treasury stock — — — Net cash used for financing activities (52,667) (48,813) (45,460) Net increase in cash and cash equivalents — — — Cash and cash equivalents, beginning of year — — — Cash and cash equivalents, end of year $ — $ — $ — (1) No portion of the dividends received from operating subsidiaries during 2019, 2018 or 2017 represent returns of capital and therefore no portion is presented as an investing activity.

Schedule III - Supplementary In

Schedule III - Supplementary Insurance Information	12 Months Ended
Schedule III - Supplementary Insurance Information	Dec. 31, 2019
Schedule III - Supplementary Insurance Information
Schedule III - Supplementary Insurance Information	Safety Insurance Group, Inc. Supplementary Insurance Informatio n Schedule III (Dollars in thousands) As of December 31, Years Ended December 31, Future Policy Deferred Benefits, Policy Losses, Net Acquisition Claims and Loss Unearned Earned Investment Segment Costs Expenses Premiums Premiums Income Property and Casualty Insurance 2019 $ 74,287 $ 610,566 $ 442,219 $ 788,777 $ 46,665 2018 73,355 584,719 435,380 781,587 43,788 2017 72,202 574,054 428,257 774,420 38,758 Years Ended December 31, Benefits, Amortization of Claims, Deferred Net Losses, and Policy Other Premium Investment Settlement Acquisition Operating Premiums Segment Revenue Income Expenses Costs Expenses Written Property and Casualty Insurance 2019 $ 788,777 $ 46,665 $ 509,846 $ 147,945 $ 96,191 $ 794,409 2018 781,587 43,788 485,513 146,601 100,042 786,912 2017 774,420 38,758 503,887 144,703 103,733 781,054

Schedule IV - Reinsurance

Schedule IV - Reinsurance	12 Months Ended
Schedule IV - Reinsurance	Dec. 31, 2019
Schedule IV - Reinsurance
Schedule IV - Reinsurance	Safety Insurance Group, Inc. Reinsuranc e Schedule IV (Dollars in thousands) Percent of Amount Property and Casualty Gross Ceded to Other Assumed from Net Assumed Insurance Earned Premiums Amount Companies Other Companies Amount to Net Years ended December 31, 2019 $ 845,102 $ 89,178 $ 32,853 $ 788,777 4.2% 2018 836,759 87,368 32,196 781,587 4.1% 2017 818,804 76,886 32,502 774,420 4.2%

Schedule V - Valuation and Qual

Schedule V - Valuation and Qualifying Accounts	12 Months Ended
Schedule V - Valuation and Qualifying Accounts	Dec. 31, 2019
Schedule V - Valuation and Qualifying Accounts
Schedule V - Valuation and Qualifying Accounts	Safety Insurance Group, Inc. Valuation and Qualifying Account s Schedule V (Dollars in thousands) Additions Balance at Charged to Charged to Balance at Beginning Costs and Other End of of Period Expenses Accounts Deductions(1) Period Allowance for doubtful accounts Years Ended December 31, 2019 $ 482 $ 1,358 $ — $ 1,262 $ 578 2018 414 1,338 — 1,270 482 2017 435 1,203 — 1,224 414 (1) Deductions represent write-offs of accounts determined to be uncollectible.

Schedule VI - Supplemental Info

Schedule VI - Supplemental Information Concerning Property and Casualty Insurance Operations	12 Months Ended
	Dec. 31, 2019
Schedule VI - Supplemental Information Concerning Property and Casualty Insurance Operations
Schedule VI - Supplemental Information Concerning Property and Casualty Insurance Operations	Safety Insurance Group, Inc. Supplemental Information Concerning Property and Casualty Insurance Operation s Schedule VI (Dollars in thousands) As of December 31, Years Ended December 31, Reserves for Deferred Unpaid Claims Policy and Claims Net Acquisition Adjustment Unearned Earned Investment Affiliation With Registrant Costs Expenses Premiums Premiums Income Consolidated Property & Casualty Subsidiaries 2019 $ 74,287 $ 610,566 $ 442,219 $ 788,777 $ 46,665 2018 73,355 584,719 435,380 781,587 43,788 2017 72,202 574,054 428,257 774,420 38,758 Years Ended December 31, Claims and Claims Amortization Adjustment Expenses of Deferred Paid Claims Incurred Related to Policy and Claims Current Prior Acquisition Adjustment Premiums Affiliation With Registrant Year Year Costs Expenses Written Consolidated Property & Casualty Subsidiaries 2019 $ 551,895 $ (42,049) $ 147,945 $ 497,973 $ 794,409 2018 542,001 (56,488) 146,601 500,161 786,912 2017 545,671 (41,784) 144,703 489,515 781,054

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2019
Summary of Significant Accounting Policies
Investments	Investments Investments in fixed maturities, which include taxable and non-taxable bonds and redeemable preferred stocks, are reported at fair value. Investments in equity securities, which include interests in common stocks, mutual funds and a real estate investment trust (“REIT”), are reported at fair value. Fair values for fixed maturity securities are based on estimates obtained from independent pricing services. Fair values for equity securities are derived from external market quotations, with the exception of the REIT whose fair value was determined using the trust’s net asset value obtained from its audited financial statements. Short-term investments, which consist of U.S. Treasury securities, are reported at amortized cost, which approximates fair value. Other long-term investments consist of investments in limited partnerships. The partnership interest is accounted for using the equity method of accounting and recorded in earnings from partnership investments. The carrying value of this investment is written down, or impaired, to fair value when a decline in value is considered to be other-than-temporary. In applying the equity method (including assessment for other-than-temporary impairment), the Company uses financial information provided by the investee, generally on a three month lag. Unrealized gains or losses on fixed maturity securities reported at fair value are excluded from earnings and reported in a separate component of shareholders’ equity, known as “Accumulated other comprehensive income (loss), net of taxes,” until realized. Changes in unrealized gains or losses on equity securities are recognized in earnings. Realized gains or losses on the sale or maturity of investments are determined based on the specific cost identification method. Fixed maturities and equity securities that experience declines in value that are other-than-temporary are written down to fair value with a corresponding charge to net impairment losses on investments. Investment income is recognized on an accrual basis of accounting. Bonds not backed by other loans are amortized using the interest method. Loan-backed bonds and structured securities are amortized using the interest method and significant changes in estimated cash flows from the original purchase assumptions are accounted for using the retrospective method.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents includes money market accounts and United States (“U.S.”) Treasury bills with original maturities of three months or less from the date of purchase. U.S. Treasury bills are stated at amortized cost, which approximates fair value.
Accounts Receivable	Accounts Receivable Amounts included in accounts receivable represent premiums as well as finance charges, the majority of which are billed on a monthly installment basis. Accounts receivable are stated net of allowances for doubtful accounts. At December 31, 2019 and 2018, these allowances were $578 and $482, respectively. Uncollected premium balances over ninety days past due are written off.
Deferred Policy Acquisition Costs	Deferred Policy Acquisition Costs Amounts that vary with and are primarily related to the successful acquisition of a new or renewal insurance contract, principally commissions and premium taxes, are deferred and amortized ratably over the effective period of the policy. All other acquisition expenses are expensed as incurred. Deferred policy acquisition costs are reviewed to determine if they are recoverable from future income, and if not, are charged to expense. Future investment income attributable to related premiums is not taken into account in measuring the recoverability of the carrying value of this asset. Amortization of acquisition costs in the amount of $147,945, $146,601, and $144,703 were charged to underwriting, operating and other expenses for the years ended 2019, 2018 and 2017, respectively.
Equity and Deposits in Pools	Equity and Deposits in Pools Equity and deposits in pools represents the net receivable amounts from the residual market mechanisms, Commonwealth Automobile Reinsurers (“CAR”) for automobile and Massachusetts Property Insurance Underwriting Association (“FAIR Plan”) for homeowner insurance in Massachusetts. See Note 10 for a discussion of the Company’s accounting for amounts assumed from residual markets.
Equipment and Leasehold Improvements	Equipment and Leasehold Improvements Property, equipment, leasehold improvements, and software which are included in other assets are carried at cost less accumulated depreciation. Depreciation is provided using the straight- line or accelerated method over the estimated useful lives of the related assets, which range from 3 to 10 years. Amortization of leasehold improvements is provided using the straight-line method over the term of the lease. The costs of computer software developed or obtained for internal use are capitalized and amortized over the estimated life of the business system, beginning when the software is ready for its intended use. Maintenance and repairs are charged to expense as incurred.
Losses and Loss Adjustment Expenses	Losses and Loss Adjustment Expenses Liabilities for losses and loss adjustment expenses (“LAE”) include case basis estimates for open claims reported prior to year- end and estimates of unreported claims and claim adjustment expenses, net of salvage and subrogation. The estimates are continually reviewed and modified to reflect current conditions, and any resulting adjustments are reflected in current operating results. Adjustments for anticipated salvage and subrogation are recorded on incurred and reported and incurred but not reported losses. The Company determines its loss and LAE reserves estimate based upon the analysis of our actuaries. A reasonable estimate is derived by selecting a point estimate within a range of indications as calculated by our actuaries using generally accepted actuarial techniques. The key assumption in most actuarial analysis is that past patterns of frequency and severity will repeat in the future, unless a significant change in the factors described above takes place. Our key factors and resulting assumptions are the ultimate frequency and severity of claims, based upon the most recent ten years of claims reported to the Company, and the data reported to us to calculate our share of the residual market. For each accident year and each coverage within a line of business our actuaries calculate the ultimate losses incurred.
Premiums and Unearned Premiums	Premiums and Unearned Premiums Premiums are earned over the terms of the respective policies, which are generally one year. Unearned premiums represent the portion of premiums written applicable to the unexpired terms of the policies. Ceded premiums are charged to income over the terms of the respective policies and the applicable term of the reinsurance contracts with third-party reinsurers. Ceded unearned premiums represent the unexpired portion of premiums ceded to CAR and other reinsurers. Premiums received in advance of the policy effective date are recorded as a liability and not recognized as income until earned. Such amounts are included in accounts payable and accrued liabilities and totaled $14,628 and $14,649 at December 31, 2019 and 2018, respectively.
Reinsurance	Reinsurance Liabilities for unearned premiums and unpaid losses are stated before deductions for ceded reinsurance. The ceded amounts are carried as receivables. Earned premiums are stated net of deductions for ceded reinsurance. The Company, as primary insurer, will be required to pay losses in their entirety in the event that the reinsurers are unable to discharge their obligations under the reinsurance agreements.
Advertising Costs	Advertising Costs Advertising costs are charged to expense when they are incurred. Total advertising costs were $2,182, $2,500 and $2,216 for the years ended December 31, 2019, 2018, and 2017, respectively.
Finance and Other Service Income	Finance and Other Service Income Finance and other service income primarily include revenues from premium installment charges, which are recognized when earned.
Income Taxes	Income Taxes The Company and its subsidiaries file a consolidated U.S. federal income tax return. The method of allocation among members of the consolidated group is subject to a written agreement approved by the Board of Directors (the “Board”). The consolidated tax liability is allocated on the basis of the members’ proportionate contribution to consolidated taxable income. Deferred income taxes are generally recognized when assets and liabilities have different values for financial statement and tax reporting purposes, and for other temporary taxable and deductible differences as defined by Accounting Standards Codification (“ASC”) 740, Income Taxes. On December 22, 2017, the TCJA was enacted, which significantly amends the Internal Revenue Code of 1986. The TCJA, among other things, reduced the corporate tax rate from a statutory rate of 35% to 21%, imposes additional limitations on net operating losses and executive compensation, allows for the full expensing of certain capital expenditures, and enacts other changes impacting the insurance industry.
Earnings per Weighted Average Common Share	Earnings per Weighted Average Common share Basic earnings per weighted average common share (“EPS”) are calculated by dividing net income by the weighted average number of basic common shares outstanding during the period. Diluted earnings per share amounts are based on the weighted average number of common shares including non-vested performance stock grants. The following table sets forth the computation of basic and diluted EPS for the periods indicated. Years Ended December 31, 2019 2018 2017 Earnings attributable to common shareholders - basic and diluted: Net income from continuing operations $ 99,601 $ 83,195 $ 62,387 Allocation of income for participating shares (523) (496) (392) Net income from continuing operations attributed to common shareholders $ 99,078 $ 82,699 $ 61,995 Earnings per share denominator - basis and diluted Total weighted average common shares outstanding, including participating shares 15,281,363 15,170,754 15,105,558 Less: weighted average participating shares (80,231) (90,485) (94,807) Basic earnings per share denominator 15,201,132 15,080,269 15,010,751 Common equivalent shares- stock options — — — Common equivalent shares- non-vested performance stock grants 136,675 149,629 124,597 Diluted earnings per share denominator 15,337,807 15,229,898 15,135,348 Basic earnings per share $ 6.52 $ 5.48 $ 4.13 Diluted earnings per share $ 6.46 $ 5.43 $ 4.10 Undistributed earnings attributable to common shareholders - basic and diluted: Net income from continuing operations attributable to common shareholders -Basic $ 6.52 $ 5.48 $ 4.13 Dividends declared (3.40) (3.20) (3.00) Undistributed earnings $ 3.12 $ 2.28 $ 1.13 Net income from continuing operations attributable to common shareholders -Diluted $ 6.46 $ 5.43 $ 4.10 Dividends declared (3.40) (3.20) (3.00) Undistributed earnings $ 3.06 $ 2.23 $ 1.10 Diluted EPS excludes non vested performance stock grants with exercise prices and exercise tax benefits greater than the average market price of the Company’s common stock during the period because their inclusion would be anti-dilutive. There were no anti-dilutive stock options or non-vested performance stock grants for the years ended December 31, 2019 and 2018.
Share-Based Compensation	Share-Based Compensation Accounting Standards Codification (“ASC”) 718, Compensation —Stock Compensation requires the Company to measure and recognize the cost of employee services received in exchange for an award of equity instruments. Under the provisions of ASC 718, share-based compensation cost is measured at the grant date, based on the fair value of the award, and is recognized as an expense over the requisite service period (generally the vesting period of the equity grant). See Note 6 for further information regarding share-based compensation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements On March 20, 2019, the SEC adopted amendments to Regulation S-K and related rules and forms to modernize and simplify certain disclosure requirements for public companies. The amendments are intended to reduce the costs and burdens of the disclosure process and while continuing to require disclosure of all material information. The amended rules generally were effective on May 2, 2019 and reduced disclosures but some provisions added new requirements. The adoption of the new rules did not have a material impact on the Company’s financial position, results of operations, cash flows, or disclosures. On August 17, 2018, the SEC adopted amendments to eliminate, integrate, update or modify certain of its disclosure requirements. The amendments which are focused on disclosure requirements that have become redundant, duplicative, overlapping, outdated, or superseded, are intended to facilitate the disclosure of information to investors and simplify compliance without significantly altering the total mix of information provided to investors. The amended rules generally reduce disclosures but some provisions added new disclosure requirements. The amendments were effective November 5, 2018. The adoption of the new rules did not have a material In February 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In March 2017, the FASB issued ASU 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities In August 2016, the FASB issued ASU 2016-15 , Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Statements operations with regard to potential credit losses on its Available For Sale investment portfolio and reinsurance recoverables and determined that the impact of adoption will not be material. In March 2016, the FASB issued ASU 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In February 2016, the FASB issued ASU 2016-02, Leases Codification Improvements to Topic 842, Leases Leases (Topic 842): Targeted Improvements In January 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall (Subtopic 825-10), Recognition and Measurement of Financial Assets and Financial Liabilities In May 2014, the FASB issued as final, ASU 2014-09, Revenue from Contracts with Customers (Topic 606) entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The update was effective for interim and annual reporting periods in fiscal years beginning after December 15, 2017. ASU 2014-09 allows for the use of either the retrospective or modified retrospective approach of adoption. The Company adopted the updated guidance effective January 1, 2018 using the modified retrospective approach. The adoption of ASU 2014-09 did not have a material impact on the Company’s financial position, results of operations, cash flows, or disclosures.
Segments	Segments Segment Reporting,

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
Summary of Significant Accounting Policies (Tables)	Dec. 31, 2019
Earnings per Weighted Average Common Share
Computation of basic and diluted EPS	Years Ended December 31, 2019 2018 2017 Earnings attributable to common shareholders - basic and diluted: Net income from continuing operations $ 99,601 $ 83,195 $ 62,387 Allocation of income for participating shares (523) (496) (392) Net income from continuing operations attributed to common shareholders $ 99,078 $ 82,699 $ 61,995 Earnings per share denominator - basis and diluted Total weighted average common shares outstanding, including participating shares 15,281,363 15,170,754 15,105,558 Less: weighted average participating shares (80,231) (90,485) (94,807) Basic earnings per share denominator 15,201,132 15,080,269 15,010,751 Common equivalent shares- stock options — — — Common equivalent shares- non-vested performance stock grants 136,675 149,629 124,597 Diluted earnings per share denominator 15,337,807 15,229,898 15,135,348 Basic earnings per share $ 6.52 $ 5.48 $ 4.13 Diluted earnings per share $ 6.46 $ 5.43 $ 4.10 Undistributed earnings attributable to common shareholders - basic and diluted: Net income from continuing operations attributable to common shareholders -Basic $ 6.52 $ 5.48 $ 4.13 Dividends declared (3.40) (3.20) (3.00) Undistributed earnings $ 3.12 $ 2.28 $ 1.13 Net income from continuing operations attributable to common shareholders -Diluted $ 6.46 $ 5.43 $ 4.10 Dividends declared (3.40) (3.20) (3.00) Undistributed earnings $ 3.06 $ 2.23 $ 1.10

Investments (Tables)

Investments (Tables)	12 Months Ended
Investments (Tables)	Dec. 31, 2019
Investments
Gross unrealized gains and losses on investments in securities	As of December 31, 2019 Gross Unrealized Losses (3) Cost or Gross Non-OTTI OTTI Estimated Amortized Unrealized Unrealized Unrealized Fair Cost Gains Losses Losses (4) Value U.S. Treasury securities $ 1,504 $ 8 $ — $ — $ 1,512 Obligations of states and political subdivisions 241,597 9,799 — — 251,396 Residential mortgage-backed securities (1) 301,503 6,608 (909) — 307,202 Commercial mortgage-backed securities 106,902 3,233 (397) — 109,738 Other asset-backed securities 36,068 218 (64) — 36,222 Corporate and other securities 504,783 18,455 (1,268) — 521,970 Subtotal, fixed maturity securities 1,192,357 38,321 (2,638) — 1,228,040 Equity securities (2) 151,121 27,879 (1,363) — 177,637 Other invested assets (5) 37,278 — — — 37,278 Totals $ 1,380,756 $ 66,200 $ (4,001) $ — $ 1,442,955 As of December 31, 2018 Gross Unrealized Losses (3) Cost or Gross Non-OTTI OTTI Estimated Amortized Unrealized Unrealized Unrealized Fair Cost Gains Losses Losses (4) Value U.S. Treasury securities $ 1,807 $ — $ (30) $ — $ 1,777 Obligations of states and political subdivisions 262,772 5,098 (1,672) — 266,198 Residential mortgage-backed securities (1) 300,387 1,477 (4,841) — 297,023 Commercial mortgage-backed securities 60,897 337 (898) — 60,336 Other asset-backed securities 61,310 95 (329) — 61,076 Corporate and other securities 488,240 1,775 (14,563) — 475,452 Subtotal, fixed maturity securities 1,175,413 8,782 (22,333) — 1,161,862 Equity securities (2) 142,948 15,419 (10,356) — 148,011 Other invested assets (5) 23,481 — — — 23,481 Totals $ 1,341,842 $ 24,201 $ (32,689) $ — $ 1,333,354 (1) Residential mortgage-backed securities consists primarily of obligations of U.S. Government agencies including collateralized mortgage obligations issued, guaranteed and/or insured by the following issuers: Government National Mortgage Association (GNMA), Federal Home Loan Mortgage Corporation (FHLMC), Federal National Mortgage Association (FNMA) and the Federal Home Loan Bank (FHLB). (2) Equity securities include common stock, preferred stock, mutual funds and interests in mutual funds held to fund the Company’s executive deferred compensation plan. (3) The Company’s investment portfolio included 229 and 958 securities in an unrealized loss position at December 31, 2019 and December 31, 2018, respectively. (4) Amounts in this column represent other-than-temporary impairment (“OTTI”) recognized in accumulated other comprehensive (loss) income. (5) Other invested assets are accounted for under the equity method which approximates fair value.
Amortized cost and the estimated fair value of fixed maturity securities, by maturity	As of December 31, 2019 Amortized Estimated Cost Fair Value Due in one year or less $ 46,850 $ 47,146 Due after one year through five years 309,662 317,821 Due after five years through ten years 306,656 321,000 Due after ten years through twenty years 83,872 87,952 Due after twenty years 846 961 Asset-backed securities 444,471 453,160 Totals $ 1,192,357 $ 1,228,040
Gross realized gains and losses on sales of investments	Years Ended December 31, 2019 2018 2017 Gross realized gains Fixed maturity securities $ 1,294 $ 1,022 $ 1,468 Equity securities 4,536 5,129 5,244 Gross realized losses Fixed maturity securities (1,805) (1,878) (504) Equity securities (1,049) (1,047) (172) Net realized gains on investments $ 2,976 $ 3,226 $ 6,036
Gross unrealized losses included in the Company's investment portfolio and the fair value of those securities	As of December 31, 2019 Less than 12 Months 12 Months or More Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses Fair Value Losses U.S. Treasury securities $ — $ — $ — $ — $ — $ — Obligations of states and political subdivisions — — — — — — Residential mortgage-backed securities 61,933 409 31,655 500 93,588 909 Commercial mortgage-backed securities 36,398 397 866 — 37,264 397 Other asset-backed securities 21,281 64 462 — 21,743 64 Corporate and other securities 26,386 481 13,718 787 40,104 1,268 Subtotal, fixed maturity securities 145,998 1,351 46,701 1,287 192,699 2,638 Equity securities 8,849 391 14,143 972 22,992 1,363 Total temporarily impaired securities $ 154,847 $ 1,742 $ 60,844 $ 2,259 $ 215,691 $ 4,001 As of December 31, 2018 Less than 12 Months 12 Months or More Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses Fair Value Losses U.S. Treasury securities $ — $ — $ 1,777 $ 30 $ 1,777 $ 30 Obligations of states and political subdivisions 80,856 707 16,049 965 96,905 1,672 Residential mortgage-backed securities 64,101 694 138,572 4,147 202,673 4,841 Commercial mortgage-backed securities 22,652 270 13,117 628 35,769 898 Other asset-backed securities 33,866 112 23,532 217 57,398 329 Corporate and other securities 288,786 10,149 87,546 4,414 376,332 14,563 Subtotal, fixed maturity securities 490,261 11,932 280,593 10,401 770,854 22,333 Equity securities 71,439 9,955 2,072 401 73,511 10,356 Total temporarily impaired securities $ 561,700 $ 21,887 $ 282,665 $ 10,802 $ 844,365 $ 32,689
Credit loss recognized in earnings related to fixed maturity securities	Years Ended December 31, 2019 2018 2017 Credit losses on fixed maturity securities, beginning of period $ 844 $ 892 $ 1,094 Add: credit losses on OTTI not previously recognized 889 228 256 Less: credit losses on securities sold (1,064) (276) (458) Less: credit losses on securities impaired due to intent to sell — — — Add: credit losses on previously impaired securities — — — Less: increases in cash flows expected on previously impaired securities — — — Credit losses on fixed maturity securities, end of period $ 669 $ 844 $ 892
Components of net investment income	Years Ended December 31, 2019 2018 2017 Interest on fixed maturity securities $ 42,892 $ 40,988 $ 37,246 Dividends on equity securities 5,268 4,500 3,093 Equity in earnings of other invested assets 1,552 1,182 1,016 Interest on other assets 32 62 89 Total Investment Income 49,744 46,732 41,444 Investment expenses 3,079 2,944 2,686 Net investment income $ 46,665 $ 43,788 $ 38,758

Equipment and Leasehold Impro_2

Equipment and Leasehold Improvements (Tables)	12 Months Ended
Equipment and Leasehold Improvements (Tables)	Dec. 31, 2019
Equipment and Leasehold Improvements
Schedule of carrying value of equipment and leasehold improvements by classification	As of December 31, 2019 2018 Software $ 42,516 $ 36,161 Computer equipment 12,412 9,195 Leasehold improvements 8,264 8,264 Other equipment 3,132 3,116 Furniture and fixtures 4,134 4,129 Total cost 70,458 60,865 Less accumulated depreciation and amortization 50,447 45,281 Equipment and leasehold improvements, net $ 20,011 $ 15,584

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
Share-Based Compensation (Tables)	Dec. 31, 2019
Share-Based Compensation
Schedule of restricted stock and performance-based restricted stock activity	Years Ended December 31, 2019 2018 2017 Shares Weighted Shares Weighted Shares Weighted Under Average Under Average Under Average Restriction Fair Value Restriction Fair Value Restriction Fair Value Outstanding at beginning of year 89,135 $ 68.70 93,086 $ 63.13 95,493 $ 55.86 Granted 33,778 92.52 39,451 75.05 40,226 73.42 Vested and unrestricted (44,085) 68.41 (43,276) 62.46 (42,453) 56.56 Forfeited (626) 75.50 (126) 70.63 (180) 63.87 Outstanding at end of period 78,202 $ 79.09 89,135 $ 68.70 93,086 $ 63.13 Years Ended December 31, 2019 2018 2017 Performance-based Weighted Performance-based Weighted Performance-based Weighted Shares Under Average Shares Under Average Shares Under Average Restriction Fair Value Restriction Fair Value Restriction Fair Value Outstanding at beginning of year 105,170 $ 66.79 105,660 $ 62.75 94,610 $ 57.60 Granted (1) 63,447 69.61 31,832 75.14 29,829 74.96 Vested and unrestricted (84,512) 56.42 (27,801) 61.50 (18,259) 53.99 Forfeited — — (4,521) 62.41 (520) 53.99 Outstanding at end of period 84,105 $ 79.34 105,170 $ 66.79 105,660 $ 62.75 (1) Includes a true-up of previously awarded performance-based restricted share awards. The updated shares were calculated based on the attainment of pre-established performance objectives.

Leases (Tables)

Leases (Tables)	12 Months Ended
Leases (Tables)	Dec. 31, 2019
Leases
Schedule of operating lease cost	Year Ended December 31, 2019 Operating lease cost $ 4,645
Schedule of other information related to leases	Year Ended December 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 5,082 Weighted average remaining lease term Operating leases 8.42 Years Weighted average discount rate Operating leases 2.39%
Schedule of the maturities of lease liabilities	Operating Leases 2020 $ 4,998 2021 4,798 2022 4,270 2023 3,879 2024 3,875 Thereafter 15,405 Total lease payments 37,225 Less imputed interest (3,227) Total $ 33,998

Reinsurance (Tables)

Reinsurance (Tables)	12 Months Ended
Reinsurance (Tables)	Dec. 31, 2019
Reinsurance
Schedule of effect of assumed and ceded premiums on net written and earned premiums and losses and LAE incurred	Years Ended December 31, 2019 2018 2017 Written Premiums Direct $ 852,404 $ 843,675 $ 827,316 Assumed 32,391 32,403 34,214 Ceded (90,386) (89,166) (80,476) Net written premiums $ 794,409 $ 786,912 $ 781,054 Earned Premiums Direct $ 845,102 $ 836,759 $ 818,804 Assumed 32,853 32,196 32,502 Ceded (89,178) (87,368) (76,886) Net earned premiums $ 788,777 $ 781,587 $ 774,420 Loss and LAE Direct $ 562,192 $ 538,569 $ 517,146 Assumed 28,529 28,815 28,003 Ceded (80,875) (81,871) (41,262) Net loss and LAE $ 509,846 $ 485,513 $ 503,887

Loss and Loss Adjustment Expe_2

Loss and Loss Adjustment Expense Reserves (Tables)	12 Months Ended
Loss and Loss Adjustment Expense Reserves (Tables)	Dec. 31, 2019
Loss and Loss Adjustment Expense Reserves
Schedule of reconciliation of beginning and ending reserves for losses and loss adjustment expenses (LAE)	Year Ended December 31, 2019 2018 2017 Reserves for losses and LAE at beginning of year $ 584,719 $ 574,054 $ 560,321 Less receivable from reinsurers related to unpaid losses and LAE (108,398) (83,085) (83,724) Net reserves for losses and LAE at beginning of year 476,321 490,969 476,597 Incurred losses and LAE, related to: Current year 551,895 542,001 545,671 Prior years (42,049) (56,488) (41,784) Total incurred losses and LAE 509,846 485,513 503,887 Paid losses and LAE related to: Current year 333,377 340,927 325,049 Prior years 164,596 159,234 164,466 Total paid losses and LAE 497,973 500,161 489,515 Net reserves for losses and LAE at end of period 488,194 476,321 490,969 Plus receivable from reinsurers related to unpaid losses and LAE 122,372 108,398 83,085 Reserves for losses and LAE at end of period $ 610,566 $ 584,719 $ 574,054
Schedule of incurred and paid claims development	Private Passenger Automobile Liability Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance As of December 31, 2019 For the Years Ended December 31, Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims Cumulative Number of Reported Claims Accident Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (Unaudited) 2010 $ 169,426 $ 172,558 $ 171,978 $ 170,089 $ 166,195 $ 164,723 $ 163,206 $ 162,679 $ 161,236 $ 161,212 $ - 54,933 2011 176,727 176,906 176,906 175,209 172,957 171,852 170,732 168,671 168,625 - 56,124 2012 175,262 175,189 174,856 170,379 167,831 166,008 163,350 162,448 (334) 53,273 2013 183,367 183,517 183,264 181,492 179,167 176,713 175,684 (1,155) 54,248 2014 187,305 187,104 186,798 183,119 181,312 179,251 (1,531) 52,787 2015 190,036 190,236 188,317 184,477 181,299 (1,082) 52,976 2016 192,912 192,318 185,009 180,486 (2,625) 49,368 2017 185,673 184,429 182,068 (9,052) 46,154 2018 176,411 175,222 (10,581) 42,785 2019 176,171 (7,596) 37,565 Total $ 1,742,466 Private Passenger Automobile Liability Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance For the Years Ended December 31, Accident Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (Unaudited) 2010 $ 73,721 $ 126,734 $ 142,688 $ 153,408 $ 157,887 $ 160,192 $ 160,859 $ 161,080 $ 161,114 $ 161,112 2011 76,467 130,018 146,532 158,904 164,413 167,251 168,025 168,585 168,593 2012 74,306 126,553 144,157 152,991 157,443 160,416 161,749 162,014 2013 79,049 135,031 152,472 163,694 169,634 172,736 173,890 2014 79,151 136,434 156,693 166,815 173,163 176,616 2015 76,934 138,255 156,483 168,641 173,816 2016 78,862 137,917 154,964 167,458 2017 77,519 133,037 153,675 2018 72,895 126,456 2019 72,219 Total $ 1,535,849 All outstanding liabilities before 2010, net of reinsurance 347 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 206,964 Private Passenger Automobile Physical Damage Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance As of December 31, 2019 For the Years Ended December 31, Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims Cumulative Number of Reported Claims Accident Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (Unaudited) 2010 $ 101,456 $ 98,463 $ 96,642 $ 96,485 $ 96,385 $ 96,366 $ 96,325 $ 96,323 $ 96,335 $ 96,309 $ - 128,202 2011 118,131 117,951 115,028 113,821 113,765 113,674 113,677 113,640 113,630 - 140,509 2012 108,376 107,912 104,393 103,679 103,575 103,547 103,510 103,491 - 123,639 2013 114,389 114,239 113,034 112,197 112,096 112,060 112,029 - 131,703 2014 123,421 123,622 122,410 122,327 122,341 122,213 (38) 135,006 2015 140,219 136,661 134,101 133,737 133,581 (58) 144,272 2016 129,528 124,922 122,116 121,717 (78) 126,080 2017 128,340 126,304 124,128 (206) 123,989 2018 129,450 130,145 (3,085) 119,644 2019 128,698 (21,574) 113,983 Total $ 1,185,941 Private Passenger Automobile Physical Damage Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance For the Years Ended December 31, Accident Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (Unaudited) 2010 $ 101,635 $ 98,445 $ 96,587 $ 96,444 $ 96,369 $ 96,335 $ 96,325 $ 96,317 $ 96,306 $ 96,309 2011 126,196 117,152 114,451 113,809 113,719 113,673 113,669 113,640 113,630 2012 111,928 107,017 104,311 103,664 103,573 103,537 103,510 103,491 2013 120,843 115,904 112,894 112,162 112,085 112,060 112,029 2014 130,732 126,414 122,668 122,402 122,350 122,251 2015 143,532 136,760 134,066 133,701 133,639 2016 133,530 124,298 122,023 121,795 2017 132,409 126,822 124,286 2018 138,036 132,591 2019 134,429 Total $ 1,194,450 All outstanding liabilities before 2010, net of reinsurance - Liabilities for claims and claim adjustment expenses, net of reinsurance $ (8,509) Commercial Automobile Liability Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance As of December 31, 2019 For the Years Ended December 31, Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims Cumulative Number of Reported Claims Accident Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (Unaudited) 2010 $ 20,150 $ 19,922 $ 19,493 $ 19,576 $ 19,763 $ 19,285 $ 19,034 $ 18,725 $ 18,495 $ 18,547 $ 10 4,531 2011 23,658 24,298 24,160 24,187 23,649 22,933 22,817 22,759 22,488 25 4,958 2012 23,704 24,447 24,662 24,723 24,572 23,819 22,859 22,476 358 4,566 2013 29,175 29,541 28,377 26,864 26,310 25,986 25,443 421 5,783 2014 34,117 34,105 34,376 33,914 32,948 32,438 53 6,085 2015 35,371 36,150 36,610 37,730 38,015 (620) 7,211 2016 37,954 39,416 40,947 40,916 (821) 6,452 2017 42,865 41,373 41,055 1,263 6,123 2018 41,347 40,115 5,365 5,700 2019 51,679 14,371 4,895 Total $ 333,172 Commercial Automobile Liability Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance For the Years Ended December 31, Accident Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (Unaudited) 2010 $ 6,466 $ 11,520 $ 13,816 $ 15,821 $ 17,351 $ 17,892 $ 18,113 $ 18,269 $ 18,280 $ 18,297 2011 7,306 14,263 17,807 19,783 20,941 21,913 22,043 22,445 22,463 2012 6,503 12,474 15,617 17,804 18,876 20,601 21,021 22,086 2013 8,502 17,079 19,625 21,129 22,434 23,867 24,507 2014 9,426 17,853 21,968 25,253 27,886 30,420 2015 11,181 21,700 26,018 29,804 31,537 2016 9,991 19,902 25,711 32,274 2017 10,407 20,106 24,409 2018 9,704 18,499 2019 12,113 Total $ 236,605 All outstanding liabilities before 2010, net of reinsurance - Liabilities for claims and claim adjustment expenses, net of reinsurance $ 96,567 Commercial Automobile Physical Damage Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance As of December 31, 2019 For the Years Ended December 31, Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims Cumulative Number of Reported Claims Accident Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (Unaudited) 2010 $ 10,048 $ 9,963 $ 9,893 $ 9,892 $ 10,077 $ 9,955 $ 9,916 $ 9,990 $ 9,990 $ 10,025 $ - 10,664 2011 11,511 11,151 11,031 10,960 10,952 10,910 10,952 11,024 11,048 - 11,488 2012 10,382 10,382 10,331 10,249 10,250 10,208 10,209 10,226 - 9,913 2013 13,666 13,567 13,298 13,180 13,057 13,047 13,071 5 12,298 2014 17,426 16,925 15,455 15,419 15,353 15,381 5 13,545 2015 20,223 19,047 19,021 18,974 18,641 100 15,468 2016 20,216 18,506 17,909 17,808 96 13,593 2017 19,691 19,200 19,021 103 13,112 2018 21,230 19,937 91 12,897 2019 20,039 220 12,010 Total $ 155,197 Commercial Automobile Physical Damage Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance For the Years Ended December 31, Accident Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (Unaudited) 2010 $ 9,398 $ 10,219 $ 10,053 $ 10,039 $ 10,028 $ 10,025 $ 10,027 $ 10,026 $ 10,026 $ 10,025 2011 11,006 11,119 11,092 11,060 11,055 11,053 11,050 11,049 11,048 2012 9,707 10,553 10,270 10,242 10,239 10,235 10,228 10,226 2013 12,665 13,378 13,114 13,074 13,065 13,060 13,066 2014 15,377 15,862 15,424 15,388 15,381 15,376 2015 17,787 18,910 18,667 18,549 18,541 2016 17,228 18,143 17,763 17,712 2017 17,957 19,336 18,915 2018 18,842 19,842 2019 18,128 Total $ 152,879 All outstanding liabilities before 2010, net of reinsurance - Liabilities for claims and claim adjustment expenses, net of reinsurance $ 2,318 Homeowners Liability Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance As of December 31, 2019 For the Years Ended December 31, Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims Cumulative Number of Reported Claims Accident Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (Unaudited) 2010 $ 5,591 $ 5,422 $ 5,422 $ 4,888 $ 4,717 $ 4,098 $ 3,735 $ 3,612 $ 3,457 $ 3,457 $ - 217 2011 6,260 7,644 7,644 7,531 6,923 6,017 5,546 4,845 4,845 - 304 2012 7,514 7,514 7,514 6,464 5,304 4,331 3,824 3,889 - 249 2013 9,768 9,768 9,337 7,578 5,978 5,312 5,147 (79) 264 2014 11,494 11,494 9,738 7,388 7,120 6,984 92 261 2015 12,965 12,555 9,908 9,201 9,201 (483) 287 2016 10,594 10,594 10,594 9,847 867 272 2017 11,276 10,058 9,328 346 265 2018 9,951 9,951 (1,402) 242 2019 14,130 5,132 208 Total $ 76,779 Homeowners Liability Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance For the Years Ended December 31, Accident Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (Unaudited) 2010 $ 963 $ 1,420 $ 2,684 $ 2,890 $ 3,214 $ 3,425 $ 3,472 $ 3,457 $ 3,457 $ 3,457 2011 235 1,969 3,459 4,336 4,497 4,536 4,758 4,769 4,769 2012 1,389 2,063 2,308 2,731 3,029 3,600 3,606 3,646 2013 527 2,337 3,080 3,493 3,829 4,038 4,209 2014 340 1,834 3,212 4,200 4,828 6,315 2015 428 3,319 4,267 5,205 6,445 2016 647 2,669 4,257 5,387 2017 305 1,676 2,913 2018 551 2,039 2019 1,634 Total $ 40,814 All outstanding liabilities before 2010, net of reinsurance 3 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 35,968 Homeowners Property Damage Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance As of December 31, 2019 For the Years Ended December 31, Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims Cumulative Number of Reported Claims Accident Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (Unaudited) 2010 $ 45,342 $ 44,550 $ 43,021 $ 40,868 $ 39,921 $ 39,658 $ 39,501 $ 39,501 $ 39,097 $ 39,097 $ 173 6,685 2011 95,586 98,021 97,571 94,657 93,914 93,186 92,595 92,388 92,387 204 15,116 2012 50,351 49,911 47,392 44,380 43,097 42,382 41,895 41,887 148 6,051 2013 56,298 56,199 55,722 52,464 51,077 49,973 49,463 100 5,698 2014 59,160 60,213 59,751 57,331 55,127 54,607 284 6,077 2015 152,586 152,049 162,377 162,788 162,722 434 20,075 2016 67,116 66,442 64,208 61,262 1,334 5,419 2017 80,736 76,560 70,689 316 6,006 2018 83,443 82,581 (3,163) 8,223 2019 77,976 2,127 5,184 Total $ 732,671 Homeowners Property Damage Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance For the Years Ended December 31, Accident Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (Unaudited) 2010 $ 25,761 $ 37,447 $ 38,790 $ 39,110 $ 39,145 $ 39,203 $ 39,235 $ 39,235 $ 38,923 $ 38,923 2011 71,532 89,741 92,184 92,462 92,444 92,333 92,182 92,182 92,182 2012 30,801 40,681 41,960 41,737 41,782 41,789 41,736 41,736 2013 38,661 48,456 49,702 49,612 49,653 49,620 49,328 2014 40,409 52,161 54,088 54,224 54,262 54,274 2015 112,563 145,337 160,572 161,745 161,773 2016 44,103 57,238 59,155 59,449 2017 46,366 64,401 66,181 2018 57,704 70,959 2019 49,121 Total $ 683,926 All outstanding liabilities before 2010, net of reinsurance 506 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 49,251
Schedule of unaudited supplementary information related to incurred and paid claims development	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (Unaudited) Years 1 2 3 4 5 6 7 8 9 10 Private Passenger Automobile Liability 43.7% 32.0% 10.3% 6.5% 3.1% 1.7% 0.6% 0.2% 0.0% 0.0% Private Passenger Automobile Physical Damage 107.4% -5.1% -2.3% -0.4% -0.1% 0.0% 0.0% 0.0% 0.0% 0.0% Commercial Automobile Liability 27.5% 26.3% 12.5% 10.6% 5.9% 5.9% 1.6% 2.6% 0.1% 0.1% Commercial Automobile Physical Damage 95.4% 5.5% -1.9% -0.3% -0.1% 0.0% 0.0% 0.0% 0.0% 0.0% Homeowners Liability 9.1% 22.3% 16.9% 11.5% 8.9% 10.4% 2.6% 0.3% 0.0% 0.0% Homeowners Property Damage 70.6% 21.2% 4.8% 0.4% 0.0% 0.0% -0.2% 0.0% -0.2% 0.0%
Schedule of reconciliation of the disclosure of Incurred and Paid Claims Development to the Liability for Unpaid claims and Claims Adjustment Expenses	Reconciliation of the Disclosure of Incurred and Paid Claims Development to the Liability for Unpaid claims and Claim Adjustment Expenses December 31, 2019 Net outstanding liabilities Private Passenger Automobile Liability $ 206,964 Private Passenger Automobile Physical Damage (8,509) Commercial Automobile Liability 96,567 Commercial Automobile Physical Damage 2,318 Homeowners Liability 35,968 Homeowners Property Damage 49,251 Other Short-Duration Insurance Lines 75,455 Liabilities for unpaid claims and claim adjustment expenses, net of reinsurance $ 458,014 Reinsurance recoverable on unpaid claims Private Passenger Automobile Liability $ 238 Private Passenger Automobile Physical Damage - Commercial Automobile Liability 116,756 Commercial Automobile Physical Damage 2,255 Homeowners Liability - Homeowners Property Damage 1 Other Short-Duration Insurance Lines 3,122 Total reinsurance recoverable on unpaid claims $ 122,372 Unallocated claims adjustment expenses 30,180 Total gross liability for unpaid claims and claim adjustment expenses $ 610,566

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
Income Taxes (Tables)	Dec. 31, 2019
Income Taxes
Summary of income tax expense (benefit) in the Consolidated Statements of Operations	Years Ended December 31, 2019 2018 2017 Current Income Taxes: Federal $ 19,280 $ 26,548 $ 22,198 State 43 108 30 19,323 26,656 22,228 Deferred Income Taxes: Federal 4,757 (5,600) 2,085 State — — — 4,757 (5,600) 2,085 Total income tax expense $ 24,080 $ 21,056 $ 24,313
Schedule of sources of the difference and the tax effects	Years Ended December 31, 2019 2018 2017 Federal income tax expense at statutory rate $ 25,973 $ 21,893 $ 30,345 Tax‑exempt investment income, net (1,626) (1,862) (4,123) State taxes, net 34 85 19 Nondeductible expenses 488 494 237 Remeasurement of deferred tax liability upon enactment of the TCJA — — (1,540) Tax windfall related to share-based stock compensation (1,003) (79) (333) Other, net 214 525 (292) Total income tax expense $ 24,080 $ 21,056 $ 24,313
Schedule of deferred income tax asset (liability) representing the tax effects of temporary differences attributable to the Company's consolidated federal tax return group	Years Ended December 31, 2019 2018 Deferred tax assets: Discounting of loss reserves $ 5,642 $ 5,688 Discounting of unearned premium reserve 17,710 17,475 Investments — 1,972 Bad debt allowance 274 274 Employee benefits 4,340 4,159 Rent incentive 1,063 1,181 Total deferred tax assets before valuation allowance 29,029 30,749 Valuation allowance for deferred tax assets — — Total deferred tax assets 29,029 30,749 Deferred tax liabilities: Deferred acquisition costs (15,600) (15,405) Investments (1,744) — Net unrealized gains on investments (11,985) (1,645) Loss reserve transition adjustment (1,662) (2,229) Software development costs (2,109) (1,268) Premium acquisition expenses (509) (512) Depreciation (1,137) (941) Total deferred tax liabilities (34,746) (22,000) Net deferred tax (liability) asset $ (5,717) $ 8,749

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
Fair Value of Financial Instruments (Tables)	Dec. 31, 2019
Fair Value of Financial Instruments
Fair value measurements for investments	As of December 31, 2019 Total Level 1 Inputs Level 2 Inputs Level 3 Inputs U.S. Treasury securities $ 1,512 $ — $ 1,512 $ — Obligations of states and political subdivisions 251,396 — 251,396 — Residential mortgage-backed securities 307,202 — 307,202 — Commercial mortgage-backed securities 109,738 — 109,738 — Other asset-backed securities 36,222 — 36,222 — Corporate and other securities 521,970 — 521,970 — Equity securities 144,877 144,361 — 516 Total investment securities $ 1,372,917 $ 144,361 $ 1,228,040 $ 516 As of December 31, 2018 Total Level 1 Inputs Level 2 Inputs Level 3 Inputs U.S. Treasury securities $ 1,777 $ — $ 1,777 $ — Obligations of states and political subdivisions 266,198 — 266,198 — Residential mortgage-backed securities 297,023 — 297,023 — Commercial mortgage-backed securities 60,336 — 60,336 — Other asset-backed securities 61,076 — 61,076 — Corporate and other securities 475,452 — 475,452 — Equity securities 116,173 115,493 — 680 Total investment securities $ 1,278,035 $ 115,493 $ 1,161,862 $ 680
Changes in the Company's Level 3 fair value securities	Years Ended December 31, 2019 2018 2017 Balance at beginning of period $ 680 $ 680 $ 678 Net gains and losses included in earnings — — — Net gains included in other comprehensive income — — — Purchases 133 — 2 Sales (297) — — Transfers into Level 3 — — — Transfers out of Level 3 — — — Balance at end of period $ 516 $ 680 $ 680

Quarterly Results of Operatio_2

Quarterly Results of Operations (Tables)	12 Months Ended
Quarterly Results of Operations (Tables)	Dec. 31, 2019
Quarterly Results of Operations
Summary of the Company's unaudited of quarterly performance, and audited annual performance results of operations	Year ended December 31, 2019 First Second Third Fourth Total Quarter Quarter Quarter Quarter Year Total revenue $ 222,579 $ 216,002 $ 215,273 $ 223,899 $ 877,753 Net income 29,946 25,934 15,619 28,102 99,601 Earnings per weighted average common share: Basic 1.97 1.70 1.02 1.84 6.52 Diluted 1.95 1.68 1.01 1.82 6.46 Cash dividends paid per common share 0.80 0.80 0.90 0.90 3.40 Year ended December 31, 2018 First Second Third Fourth Total Quarter Quarter Quarter Quarter Year Total revenue $ 209,719 $ 207,970 $ 215,907 $ 202,901 $ 836,497 Net income 9,125 26,816 28,908 18,346 83,195 Earnings per weighted average common share: Basic 0.60 1.77 1.90 1.21 5.48 Diluted 0.60 1.75 1.88 1.19 5.43 Cash dividends paid per common share 0.80 0.80 0.80 0.80 3.20

Basis of Presentation (Details)

Basis of Presentation (Details)	12 Months Ended
Basis of Presentation (Details)	Dec. 31, 2019
Basis of Presentation
Percentage of private passenger automobile insurance to total direct written premiums	54.80%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) $ / shares in Units, $ in Thousands	Jan. 01, 2018USD ($)	Dec. 22, 2017	Dec. 31, 2019USD ($)$ / shares	Sep. 30, 2019USD ($)$ / shares	Jun. 30, 2019USD ($)$ / shares	Mar. 31, 2019USD ($)$ / shares	Dec. 31, 2018USD ($)$ / shares	Sep. 30, 2018USD ($)$ / shares	Jun. 30, 2018USD ($)$ / shares	Mar. 31, 2018USD ($)$ / shares	Dec. 31, 2019USD ($)segment$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares	Jan. 01, 2019USD ($)
Accounting Policies [Line Items]
Operating lease liability			$ 33,998								$ 33,998
Investments
Maximum period considered for applying equity method accounting based on financial information provided by the investee											3 months
Accounts Receivable
Premiums receivable, allowance for doubtful accounts			578				$ 482				$ 578	$ 482
Deferred Policy Acquisition Costs
Amortization expense											147,945	146,601	$ 144,703
Marketing and Advertising Expense [Abstract]
Advertising costs											2,182	2,500	2,216
Earnings per Weighted Average Common Share
Net income from continuing operations			$ 28,102	$ 15,619	$ 25,934	$ 29,946	$ 18,346	$ 28,908	$ 26,816	$ 9,125	99,601	83,195	62,387
Allocation of income for participating shares											(523)	(496)	(392)
Net income from continuing operations attributed to common shareholders											$ 99,078	$ 82,699	$ 61,995
Total weighted average common shares outstanding, including participating shares \| shares											15,281,363	15,170,754	15,105,558
Less: weighted average participating shares \| shares											(80,231)	(90,485)	(94,807)
Basic earnings per share denominator \| shares											15,201,132	15,080,269	15,010,751
Common equivalent shares- non-vested performance stock grants \| shares											136,675	149,629	124,597
Diluted earnings per share denominator \| shares											15,337,807	15,229,898	15,135,348
Basic earnings per share (in dollars per share) \| $ / shares			$ 1.84	$ 1.02	$ 1.70	$ 1.97	$ 1.21	$ 1.90	$ 1.77	$ 0.60	$ 6.52	$ 5.48	$ 4.13
Diluted earnings per share (in dollars per share) \| $ / shares			1.82	1.01	1.68	1.95	1.19	1.88	1.75	0.60	$ 6.46	$ 5.43	4.10
Antidilutive common shares \| shares											0	0
Undistributed Earnings, Diluted [Abstract]
Basic earnings per share (in dollars per share) \| $ / shares			1.84	1.02	1.70	1.97	1.21	1.90	1.77	0.60	$ 6.52	$ 5.48	4.13
Dividends declared \| $ / shares											(3.40)	(3.20)	(3)
Undistributed earnings (loss) \| $ / shares											3.12	2.28	1.13
Diluted earnings per share (in dollars per share) \| $ / shares			$ 1.82	$ 1.01	$ 1.68	$ 1.95	$ 1.19	$ 1.88	$ 1.75	$ 0.60	6.46	5.43	4.10
Undistributed earnings (loss) - Diluted \| $ / shares											$ 3.06	$ 2.23	$ 1.10
Premiums and Unearned Premiums
Term over which premiums are earned											1 year
Deferred revenue											$ 14,628	$ 14,649
Segments
Number of business segments \| segment											1
Cumulative effect of adoption of updated accounting guidance for callable debt securities at January 1, 2019			$ 2,373								$ 2,373			$ (2,373)
Statutory tax rate		35.00%									21.00%
Minimum
Equipment and Leasehold Improvements
Estimated useful lives											3 years
Maximum
Equipment and Leasehold Improvements
Estimated useful lives											10 years
Accounting Standards Update 2017-03
Segments
Cumulative Effect of Adoption of ASU 2018-02 in Period of Adoption	$ (4,736)
Accounting Standards Update 2016-01
Segments
Cumulative effect of change in accounting principle	$ 16,895
Accounting Standards Update 2016-02 \| Restatement Adjustment
Accounting Policies [Line Items]
Operating lease liability														$ 35,984

Investments (Details)

Investments (Details) $ in Thousands	Dec. 31, 2019USD ($)item	Dec. 31, 2018USD ($)item
Marketable Securities
Fixed maturity securities, amortized cost	$ 1,192,357	$ 1,175,413
Fixed maturity securities, Gross Unrealized Gains	38,321	8,782
Fixed maturity securities, Non-OTTI Gross Unrealized Losses	(2,638)	(22,333)
Fixed maturity securities, Estimated Fair Value	1,228,040	1,161,862
Equity securities, Cost or Amortized Cost	151,121	142,948
Equity securities, Estimated Fair Value	177,637	148,011
Other invested assets, Cost or Amortized Cost	37,278	23,481
Cost or Amortized Cost	1,380,756	1,341,842
Gross Unrealized Gains	66,200	24,201
Gross Non-OTTI Unrealized Losses	(4,001)	(32,689)
Estimated Fair Value	$ 1,442,955	$ 1,333,354
Number of securities in an unrealized loss position \| item	229	958
U.S. Treasury securities
Marketable Securities
Fixed maturity securities, amortized cost	$ 1,504	$ 1,807
Fixed maturity securities, Gross Unrealized Gains	8
Fixed maturity securities, Non-OTTI Gross Unrealized Losses		(30)
Fixed maturity securities, Estimated Fair Value	1,512	1,777
Obligations of states and political subdivisions
Marketable Securities
Fixed maturity securities, amortized cost	241,597	262,772
Fixed maturity securities, Gross Unrealized Gains	9,799	5,098
Fixed maturity securities, Non-OTTI Gross Unrealized Losses		(1,672)
Fixed maturity securities, Estimated Fair Value	251,396	266,198
Residential mortgage-backed securities
Marketable Securities
Fixed maturity securities, amortized cost	301,503	300,387
Fixed maturity securities, Gross Unrealized Gains	6,608	1,477
Fixed maturity securities, Non-OTTI Gross Unrealized Losses	(909)	(4,841)
Fixed maturity securities, Estimated Fair Value	307,202	297,023
Commercial mortgage-backed securities
Marketable Securities
Fixed maturity securities, amortized cost	106,902	60,897
Fixed maturity securities, Gross Unrealized Gains	3,233	337
Fixed maturity securities, Non-OTTI Gross Unrealized Losses	(397)	(898)
Fixed maturity securities, Estimated Fair Value	109,738	60,336
Other asset-backed securities
Marketable Securities
Fixed maturity securities, amortized cost	36,068	61,310
Fixed maturity securities, Gross Unrealized Gains	218	95
Fixed maturity securities, Non-OTTI Gross Unrealized Losses	(64)	(329)
Fixed maturity securities, Estimated Fair Value	36,222	61,076
Corporate and other securities
Marketable Securities
Fixed maturity securities, amortized cost	504,783	488,240
Fixed maturity securities, Gross Unrealized Gains	18,455	1,775
Fixed maturity securities, Non-OTTI Gross Unrealized Losses	(1,268)	(14,563)
Fixed maturity securities, Estimated Fair Value	521,970	475,452
Equity securities
Marketable Securities
Equity securities, Cost or Amortized Cost	151,121	142,948
Equity securities, Gross Unrealized Gains	27,879	15,419
Equity securities, Non-OTTI Gross Unrealized Losses	(1,363)	(10,356)
Equity securities, Estimated Fair Value	177,637	148,011
Other invested assets
Marketable Securities
Other invested assets, Cost or Amortized Cost	37,278	23,481
Other invested assets, Estimated Fair Value	$ 37,278	$ 23,481

Investments Amortized Cost and

Investments Amortized Cost and Estimated Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Amortized Cost
Due in one year or less, Amortized Cost	$ 46,850
Due after one year through five years, Amortized Cost	309,662
Due after five years though ten years, Amortized Cost	306,656
Due after ten years through twenty years, Amortized Cost	83,872
Due after twenty years, Amortized Cost	846
Asset-backed securities, Amortized Cost	444,471
Totals, Amortized Cost	1,192,357	$ 1,175,413
Estimated Fair Value
Due in one year or less, Fair Value	47,146
Due after one year through five years, Fair Value	317,821
Due after five years through ten years, Fair Value	321,000
Due after ten years through twenty years, Fair Value	87,952
Due after twenty years, Fair Value	961
Asset-backed securities, Fair Value	453,160
Totals, Fair Value	$ 1,228,040	$ 1,161,862

Investments Gross Realized Gain

Investments Gross Realized Gains and Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Investments
Gross realized gains fixed maturity securities	$ 1,294	$ 1,022	$ 1,468
Gross realized gains equity securities	4,536	5,129	5,244
Gross realized losses fixed maturities	(1,805)	(1,878)	(504)
Gross realized losses equity securities	(1,049)	(1,047)	(172)
Net realized gains on investments	$ 2,976	$ 3,226	$ 6,036

Investments Gross Unrealized Lo

Investments Gross Unrealized Losses and Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fixed Maturity Securities
Estimated Fair Value, Less than 12 Months	$ 154,847	$ 561,700
Estimated Fair Value, 12 Months or More	60,844	282,665
Estimated Fair Value, Total	215,691	844,365
Unrealized Losses, Less than 12 Months	1,742	21,887
Unrealized Losses, 12 Months or More	2,259	10,802
Unrealized Losses, Total	4,001	32,689
Fixed maturity securities
Fixed Maturity Securities
Estimated Fair Value, Less than 12 Months	145,998	490,261
Estimated Fair Value, 12 Months or More	46,701	280,593
Estimated Fair Value, Total	192,699	770,854
Unrealized Losses, Less than 12 Months	1,351	11,932
Unrealized Losses, 12 Months or More	1,287	10,401
Unrealized Losses, Total	2,638	22,333
U.S. Treasury securities
Fixed Maturity Securities
Estimated Fair Value, 12 Months or More		1,777
Estimated Fair Value, Total		1,777
Unrealized Losses, 12 Months or More		30
Unrealized Losses, Total		30
Obligations of states and political subdivisions
Fixed Maturity Securities
Estimated Fair Value, Less than 12 Months		80,856
Estimated Fair Value, 12 Months or More		16,049
Estimated Fair Value, Total		96,905
Unrealized Losses, Less than 12 Months		707
Unrealized Losses, 12 Months or More		965
Unrealized Losses, Total		1,672
Residential mortgage-backed securities
Fixed Maturity Securities
Estimated Fair Value, Less than 12 Months	61,933	64,101
Estimated Fair Value, 12 Months or More	31,655	138,572
Estimated Fair Value, Total	93,588	202,673
Unrealized Losses, Less than 12 Months	409	694
Unrealized Losses, 12 Months or More	500	4,147
Unrealized Losses, Total	909	4,841
Commercial mortgage-backed securities
Fixed Maturity Securities
Estimated Fair Value, Less than 12 Months	36,398	22,652
Estimated Fair Value, 12 Months or More	866	13,117
Estimated Fair Value, Total	37,264	35,769
Unrealized Losses, Less than 12 Months	397	270
Unrealized Losses, 12 Months or More		628
Unrealized Losses, Total	397	898
Other asset-backed securities
Fixed Maturity Securities
Estimated Fair Value, Less than 12 Months	21,281	33,866
Estimated Fair Value, 12 Months or More	462	23,532
Estimated Fair Value, Total	21,743	57,398
Unrealized Losses, Less than 12 Months	64	112
Unrealized Losses, 12 Months or More		217
Unrealized Losses, Total	64	329
Corporate and other securities
Fixed Maturity Securities
Estimated Fair Value, Less than 12 Months	26,386	288,786
Estimated Fair Value, 12 Months or More	13,718	87,546
Estimated Fair Value, Total	40,104	376,332
Unrealized Losses, Less than 12 Months	481	10,149
Unrealized Losses, 12 Months or More	787	4,414
Unrealized Losses, Total	1,268	14,563
Equity securities
Fixed Maturity Securities
Estimated Fair Value, Less than 12 Months	8,849	71,439
Estimated Fair Value, 12 Months or More	14,143	2,072
Estimated Fair Value, Total	22,992	73,511
Unrealized Losses, Less than 12 Months	391	9,955
Unrealized Losses, 12 Months or More	972	401
Unrealized Losses, Total	$ 1,363	$ 10,356

Investments Other (Details)

Investments Other (Details) $ in Thousands	12 Months Ended
Investments Other (Details) $ in Thousands	Dec. 31, 2019USD ($)period	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Other-Than-Temporary Impairments
Securities held	$ 1,228,040	$ 1,161,862
Material loss threshold, percentage	20.00%
Material loss threshold, number of consecutive quarters \| period	4
Other than Temporary Impairment, Credit Losses Recognized in Earnings
Credit losses on fixed maturity securities, beginning of period	$ 844	892	$ 1,094
Add: credit losses on OTTI not previously recognized	889	228	256
Less: credit losses on securities sold	(1,064)	(276)	(458)
Credit losses on fixed maturity securities, end of period	669	$ 844	$ 892
Amounts included in accumulated other comprehensive income related to OTTI securities	0
Short-term Investments	0
Subprime mortgage debt securities
Other-Than-Temporary Impairments
Securities held	$ 0

Investments Components of Net I

Investments Components of Net Investment Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Components of net investment income
Interest on fixed maturity securities	$ 42,892	$ 40,988	$ 37,246
Dividends on equity securities	5,268	4,500	3,093
Equity in earnings of other invested assets	1,552	1,182	1,016
Interest on other assets	32	62	89
Total investment income	49,744	46,732	41,444
Investment expenses	3,079	2,944	2,686
Net investment income	$ 46,665	$ 43,788	$ 38,758

Investments Fair Value Measurem

Investments Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair value of financial instruments
Fixed maturity securities, Estimated Fair Value	$ 1,228,040	$ 1,161,862
Equity securities, Estimated Fair Value	177,637	148,011
Marketable Securities, Total	1,228,040	1,161,862
Level 1 Inputs
Fair value of financial instruments
Marketable Securities, Total	144,361	115,493
Level 1 Inputs \| Equity securities
Fair value of financial instruments
Equity securities, Estimated Fair Value	144,361	115,493
Level 2 Inputs
Fair value of financial instruments
Marketable Securities, Total	1,228,040	1,161,862
Level 2 Inputs \| U.S. Treasury securities
Fair value of financial instruments
Fixed maturity securities, Estimated Fair Value	1,512	1,777
Level 2 Inputs \| Obligations of states and political subdivisions
Fair value of financial instruments
Fixed maturity securities, Estimated Fair Value	251,396	266,198
Level 2 Inputs \| Residential mortgage-backed securities
Fair value of financial instruments
Fixed maturity securities, Estimated Fair Value	307,202	297,023
Level 2 Inputs \| Commercial mortgage-backed securities
Fair value of financial instruments
Fixed maturity securities, Estimated Fair Value	109,738	60,336
Level 2 Inputs \| Other asset-backed securities
Fair value of financial instruments
Fixed maturity securities, Estimated Fair Value	36,222	61,076
Level 2 Inputs \| Corporate and other securities
Fair value of financial instruments
Fixed maturity securities, Estimated Fair Value	521,970	475,452
Level 3 Inputs
Fair value of financial instruments
Marketable Securities, Total	516	680
Level 3 Inputs \| Equity securities
Fair value of financial instruments
Equity securities, Estimated Fair Value	516	680
Total
Fair value of financial instruments
Marketable Securities, Total	1,372,917	1,278,035
Total \| U.S. Treasury securities
Fair value of financial instruments
Fixed maturity securities, Estimated Fair Value	1,512	1,777
Total \| Obligations of states and political subdivisions
Fair value of financial instruments
Fixed maturity securities, Estimated Fair Value	251,396	266,198
Total \| Residential mortgage-backed securities
Fair value of financial instruments
Fixed maturity securities, Estimated Fair Value	307,202	297,023
Total \| Commercial mortgage-backed securities
Fair value of financial instruments
Fixed maturity securities, Estimated Fair Value	109,738	60,336
Total \| Other asset-backed securities
Fair value of financial instruments
Fixed maturity securities, Estimated Fair Value	36,222	61,076
Total \| Corporate and other securities
Fair value of financial instruments
Fixed maturity securities, Estimated Fair Value	521,970	475,452
Total \| Equity securities
Fair value of financial instruments
Equity securities, Estimated Fair Value	$ 144,877	$ 116,173

Investments Level 3 and Other (

Investments Level 3 and Other (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Transfers between Levels
Transfers from Level 1 to Level 2	$ 0
Transfers from Level 2 to Level 1		$ 0	$ 0
Changes in the Company's Level 3 fair value securities
Balance at beginning of period	680	680	678
Purchases	133		2
Sales	(297)
Transfers into Level 3	0	0	0
Transfers out of Level 3	0	0	0
Balance at end of period	$ 516	680	$ 680
Period of advance notice before quarter end	45 days
Accounting Standards Update 2015-07
Changes in the Company's Level 3 fair value securities
Alternative investments fair value	$ 32,760	$ 31,838

Equipment and Leasehold Impro_3

Equipment and Leasehold Improvements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property, plant and equipment
Total cost	$ 70,458	$ 60,865
Less accumulated depreciation and amortization	50,447	45,281
Equipment and leasehold improvements, net	20,011	15,584
Depreciation and amortization	5,166	5,464	$ 5,037
Software
Property, plant and equipment
Total cost	42,516	36,161
Computer equipment
Property, plant and equipment
Total cost	12,412	9,195
Leasehold improvements
Property, plant and equipment
Total cost	8,264	8,264
Other equipment
Property, plant and equipment
Total cost	3,132	3,116
Furniture and fixtures
Property, plant and equipment
Total cost	$ 4,134	$ 4,129

Employee Benefit Plan (Details)

Employee Benefit Plan (Details) - USD ($) $ in Thousands	12 Months Ended
Employee Benefit Plan (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Employee Benefit Plan
Minimum age required to be eligible for contribution under the Retirement Plan	21 years
Employer matching contribution (as a percent)	100.00%
Maximum amount contributed by employee from employees base salary (as a percent)	8.00%
Compensation expense	$ 3,365	$ 3,302	$ 3,164

Share-Based Compensation (Detai

Share-Based Compensation (Details)	Dec. 31, 2019shares
Maximum number of shares of common stock with respect to which awards may be granted	2,850,000
Number of shares available for future grant	293,031
The Incentive Plan
Number of shares available for future grant	0
2018 Long Term Incentive Plan
Number of shares available for future grant	350,000

Share-Based Compensation Restri

Share-Based Compensation Restricted Stock Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-Based Compensation
Vesting period	3 years
Weighted Average Fair Value
Unrecognized compensation expense related to non-vested restricted stock awards	$ 6,119
Weighted average period expected for recognition of compensation expense related to non-vested restricted stock awards	1 year 6 months
Total fair value of the shares that were vested and unrestricted during the period	$ 7,784	$ 4,413	$ 3,387
Compensation Expense, Net of Tax	4,764	5,197	3,358
Income tax benefits from compensation expense	$ 1,266	$ 1,382	$ 1,808
Performance-based Shares Under Restriction
Share-Based Compensation
Vesting period	3 years
Shares Under Restriction
Outstanding at beginning of year (in shares)	105,170	105,660	94,610
Granted (in shares)	63,447	31,832	29,829
Vested and unrestricted (in shares)	(84,512)	(27,801)	(18,259)
Forfeited (in shares)		(4,521)	(520)
Outstanding at end of period (in shares)	84,105	105,170	105,660
Weighted Average Fair Value
Outstanding at beginning of year (in dollars per share)	$ 66.79	$ 62.75	$ 57.60
Granted (in dollars per share)	69.61	75.14	74.96
Vested and unrestricted (in dollars per share)	56.42	61.50	53.99
Forfeited (in dollars per share)		62.41	53.99
Outstanding at end of period (in dollars per share)	$ 79.34	$ 66.79	$ 62.75
Performance-based Shares Under Restriction \| Minimum
Share-Based Compensation
Actual Payouts (as a percent)	0.00%
Performance-based Shares Under Restriction \| Maximum
Share-Based Compensation
Actual Payouts (as a percent)	200.00%
Restricted Stock
Shares Under Restriction
Outstanding at beginning of year (in shares)	89,135	93,086	95,493
Granted (in shares)	33,778	39,451	40,226
Vested and unrestricted (in shares)	(44,085)	(43,276)	(42,453)
Forfeited (in shares)	(626)	(126)	(180)
Outstanding at end of period (in shares)	78,202	89,135	93,086
Weighted Average Fair Value
Outstanding at beginning of year (in dollars per share)	$ 68.70	$ 63.13	$ 55.86
Granted (in dollars per share)	92.52	75.05	73.42
Vested and unrestricted (in dollars per share)	68.41	62.46	56.56
Forfeited (in dollars per share)	75.50	70.63	63.87
Outstanding at end of period (in dollars per share)	$ 79.09	$ 68.70	$ 63.13
Restricted Stock \| Executives and non-executives (2018 and after)
Share-Based Compensation
Vesting period	5 years
Restricted Stock \| First anniversary of grant date
Share-Based Compensation
Actual Payouts (as a percent)	30.00%
Restricted Stock \| Second anniversary of grant date
Share-Based Compensation
Actual Payouts (as a percent)	30.00%
Restricted Stock \| Third anniversary of grant date
Share-Based Compensation
Actual Payouts (as a percent)	40.00%

Commitments and Contingencies (

Commitments and Contingencies (Details) - Limited partnership commitments $ in Thousands	Dec. 31, 2019USD ($)
Commitments and Contingencies
Investment in limited partnership, committed amount	$ 80,000
Contributions to be made	32,721
Contribution made	$ 49,587

Leases - Remaining Lease Term (

Leases - Remaining Lease Term (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Leases
Rental Expense	$ 4,573	$ 3,531	$ 4,557
Lease, Practical Expedients, Package [true false]	true
Lease, Practical Expedient, Use of Hindsight [true false]	false
Operating lease, existence of option to extend	true
Minimum
Leases
Operating lease, remaining lease term	1 year
Maximum
Leases
Operating lease, remaining lease term	10 years
Operating lease, renewal term	5 years

Leases (Details)

Leases (Details) $ in Thousands	12 Months Ended
Leases (Details) $ in Thousands	Dec. 31, 2019USD ($)
Leases
Operating lease cost	$ 4,645
Operating cash flows from operating leases	$ 5,082
Weighted average remaining lease term Operating leases	8 years 5 months 1 day
Weighted average discount rate Operating leases	2.39%

Leases (Maturities) (Details)

Leases (Maturities) (Details) $ in Thousands	Dec. 31, 2019USD ($)
Leases
2020	$ 4,998
2021	4,798
2022	4,270
2023	3,879
2024	3,875
Thereafter	15,405
Total lease payments	37,225
Less imputed interest	(3,227)
Total	$ 33,998

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	12 Months Ended
Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Revolving Credit Agreement \| LIBOR rate
Debt
Variable interest rate basis	LIBOR
Spread on variable rate (as a percent)	1.25%
Revolving Credit Agreement \| Prime rate
Debt
Variable interest rate basis	prime rate
Revolving Credit Agreement \| Federal Funds Effective Swap Rate
Debt
Variable interest rate basis	federal funds rate
Spread on variable rate (as a percent)	1.25%
Additional spread on variable rate (as a percent)	0.50%
RBS Citizens \| Revolving Credit Agreement
Debt
Current borrowing capacity	$ 30,000
Maximum borrowing capacity	50,000
Default trigger, principal amount	10,000
Outstanding amount	$ 0	$ 0
Commitment fee (as a percent)	0.25%	0.25%
F H L B Boston
Debt
Outstanding amount	$ 0
Maximum borrowing capacity using eligible invested assets as collateral	$ 289,507

Reinsurance (Details)

Reinsurance (Details) - USD ($) $ in Thousands	12 Months Ended
Reinsurance (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reinsurance
Prepaid Reinsurance Premiums	$ 35,182	$ 33,974
CAR \| Reinsurance Recoverable Including Reinsurance Premium Paid [Member] \| Concentration of credit risk
Reinsurance
Reinsurance receivables on paid and unpaid loss and LAE	130,005	113,544
Assumed net losses	3,595	5,362	$ 5,444
Prepaid Reinsurance Premiums	$ 33,587	$ 32,447

Reinsurance Written and Earned

Reinsurance Written and Earned Premiums (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Written Premiums
Direct	$ 852,404	$ 843,675	$ 827,316
Assumed	32,391	32,403	34,214
Ceded	(90,386)	(89,166)	(80,476)
Net written premiums	794,409	786,912	781,054
Earned Premiums
Direct	845,102	836,759	818,804
Assumed	32,853	32,196	32,502
Ceded	(89,178)	(87,368)	(76,886)
Net earned premiums	788,777	781,587	774,420
Loss and LAE
Direct	562,192	538,569	517,146
Assumed	28,529	28,815	28,003
Ceded	(80,875)	(81,871)	(41,262)
Net loss and LAE	$ 509,846	$ 485,513	$ 503,887

Loss and Loss Adjustment Expe_3

Loss and Loss Adjustment Expense Reserves (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Loss and Loss Adjustment Expense Reserves
Reserves for losses and LAE at beginning of year	$ 584,719	$ 574,054	$ 560,321
Less receivable from reinsurers related to unpaid losses and LAE	(108,398)	(83,085)	(83,724)
Net reserves for losses and LAE at beginning of year	476,321	490,969	476,597
Incurred losses and LAE, related to:
Current year	551,895	542,001	545,671
Prior years	(42,049)	(56,488)	(41,784)
Total incurred losses and LAE	509,846	485,513	503,887
Paid losses and LAE related to:
Current year	333,377	340,927	325,049
Prior years	164,596	159,234	164,466
Total paid losses and LAE	497,973	500,161	489,515
Net reserves for losses and LAE at end of period	488,194	476,321	490,969
Plus receivable from reinsurers related to unpaid losses and LAE	122,372	108,398	83,085
Reserves for losses and LAE at end of period	610,566	584,719	574,054
Prior years	42,049	56,488	41,784
Reduction in retained automobile reserves	25,623	36,266	29,855
Reduction in retained homeowners reserves	$ 14,182	$ 18,947	$ 10,201

Loss and Loss Adjustment Expe_4

Loss and Loss Adjustment Expense Reserves - Incurred and paid claims development (Details)	Dec. 31, 2019USD ($)claim	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2012USD ($)	Dec. 31, 2011USD ($)	Dec. 31, 2010USD ($)
incurred and paid claims development
Liabilities for claims and claims adjustment expenses, net of reinsurance	$ 458,014,000
Private Passenger Automobile Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	1,742,466,000
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	1,535,849,000
All outstanding liabilities before 2010, net of reinsurance	347,000
Liabilities for claims and claims adjustment expenses, net of reinsurance	206,964,000
Private Passenger Automobile Physical Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	1,185,941,000
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	1,194,450,000
Liabilities for claims and claim adjustment expenses, net of reinsurance	(8,509,000)
Commercial Automobile Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	333,172,000
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	236,605,000
Liabilities for claims and claims adjustment expenses, net of reinsurance	96,567,000
Commercial Automobile Physical Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	155,197,000
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	152,879,000
All outstanding liabilities before 2010, net of reinsurance
Liabilities for claims and claims adjustment expenses, net of reinsurance	2,318,000
Homeowners Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	76,779,000
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	40,814,000
All outstanding liabilities before 2010, net of reinsurance	3,000
Liabilities for claims and claims adjustment expenses, net of reinsurance	35,968,000
Homeowners Property Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	732,671,000
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	683,926,000
All outstanding liabilities before 2010, net of reinsurance	506,000
Liabilities for claims and claims adjustment expenses, net of reinsurance	49,251,000
2010 \| Private Passenger Automobile Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 161,212,000	$ 161,236,000	$ 162,679,000	$ 163,206,000	$ 164,723,000	$ 166,195,000	170,089,000	171,978,000	172,558,000	169,426,000
Cumulative Number of Reported claims \| claim	54,933
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 161,112,000	161,114,000	161,080,000	160,859,000	160,192,000	157,887,000	153,408,000	142,688,000	126,734,000	73,721,000
2010 \| Private Passenger Automobile Physical Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 96,309,000	96,335,000	96,323,000	96,325,000	96,366,000	96,385,000	96,485,000	96,642,000	98,463,000	101,456,000
Cumulative Number of Reported claims \| claim	128,202
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 96,309,000	96,306,000	96,317,000	96,325,000	96,335,000	96,369,000	96,444,000	96,587,000	98,445,000	101,635,000
2010 \| Commercial Automobile Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	18,547,000	18,495,000	18,725,000	19,034,000	19,285,000	19,763,000	19,576,000	19,493,000	19,922,000	20,150,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 10,000
Cumulative Number of Reported claims	4,531
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 18,297,000	18,280,000	18,269,000	18,113,000	17,892,000	17,351,000	15,821,000	13,816,000	11,520,000	6,466,000
2010 \| Commercial Automobile Physical Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 10,025,000	9,990,000	9,990,000	9,916,000	9,955,000	10,077,000	9,892,000	9,893,000	9,963,000	10,048,000
Cumulative Number of Reported claims	10,664
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 10,025,000	10,026,000	10,026,000	10,027,000	10,025,000	10,028,000	10,039,000	10,053,000	10,219,000	9,398,000
2010 \| Homeowners Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 3,457,000	3,457,000	3,612,000	3,735,000	4,098,000	4,717,000	4,888,000	5,422,000	5,422,000	5,591,000
Cumulative Number of Reported claims	217
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 3,457,000	3,457,000	3,457,000	3,472,000	3,425,000	3,214,000	2,890,000	2,684,000	1,420,000	963,000
2010 \| Homeowners Property Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	39,097,000	39,097,000	39,501,000	39,501,000	39,658,000	39,921,000	40,868,000	43,021,000	44,550,000	45,342,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 173,000
Cumulative Number of Reported claims	6,685
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 38,923,000	38,923,000	39,235,000	39,235,000	39,203,000	39,145,000	39,110,000	38,790,000	37,447,000	$ 25,761,000
2011 \| Private Passenger Automobile Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 168,625,000	168,671,000	170,732,000	171,852,000	172,957,000	175,209,000	176,906,000	176,906,000	176,727,000
Cumulative Number of Reported claims \| claim	56,124
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 168,593,000	168,585,000	168,025,000	167,251,000	164,413,000	158,904,000	146,532,000	130,018,000	76,467,000
2011 \| Private Passenger Automobile Physical Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 113,630,000	113,640,000	113,677,000	113,674,000	113,765,000	113,821,000	115,028,000	117,951,000	118,131,000
Cumulative Number of Reported claims \| claim	140,509
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 113,630,000	113,640,000	113,669,000	113,673,000	113,719,000	113,809,000	114,451,000	117,152,000	126,196,000
2011 \| Commercial Automobile Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	22,488,000	22,759,000	22,817,000	22,933,000	23,649,000	24,187,000	24,160,000	24,298,000	23,658,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 25,000
Cumulative Number of Reported claims	4,958
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 22,463,000	22,445,000	22,043,000	21,913,000	20,941,000	19,783,000	17,807,000	14,263,000	7,306,000
2011 \| Commercial Automobile Physical Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 11,048,000	11,024,000	10,952,000	10,910,000	10,952,000	10,960,000	11,031,000	11,151,000	11,511,000
Cumulative Number of Reported claims	11,488
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 11,048,000	11,049,000	11,050,000	11,053,000	11,055,000	11,060,000	11,092,000	11,119,000	11,006,000
2011 \| Homeowners Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 4,845,000	4,845,000	5,546,000	6,017,000	6,923,000	7,531,000	7,644,000	7,644,000	6,260,000
Cumulative Number of Reported claims	304
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 4,769,000	4,769,000	4,758,000	4,536,000	4,497,000	4,336,000	3,459,000	1,969,000	235,000
2011 \| Homeowners Property Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	92,387,000	92,388,000	92,595,000	93,186,000	93,914,000	94,657,000	97,571,000	98,021,000	95,586,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 204,000
Cumulative Number of Reported claims	15,116
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 92,182,000	92,182,000	92,182,000	92,333,000	92,444,000	92,462,000	92,184,000	89,741,000	$ 71,532,000
2012 \| Private Passenger Automobile Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	162,448,000	163,350,000	166,008,000	167,831,000	170,379,000	174,856,000	175,189,000	175,262,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ (334,000)
Cumulative Number of Reported claims \| claim	53,273
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 162,014,000	161,749,000	160,416,000	157,443,000	152,991,000	144,157,000	126,553,000	74,306,000
2012 \| Private Passenger Automobile Physical Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 103,491,000	103,510,000	103,547,000	103,575,000	103,679,000	104,393,000	107,912,000	108,376,000
Cumulative Number of Reported claims \| claim	123,639
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 103,491,000	103,510,000	103,537,000	103,573,000	103,664,000	104,311,000	107,017,000	111,928,000
2012 \| Commercial Automobile Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	22,476,000	22,859,000	23,819,000	24,572,000	24,723,000	24,662,000	24,447,000	23,704,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 358,000
Cumulative Number of Reported claims	4,566
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 22,086,000	21,021,000	20,601,000	18,876,000	17,804,000	15,617,000	12,474,000	6,503,000
2012 \| Commercial Automobile Physical Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 10,226,000	10,209,000	10,208,000	10,250,000	10,249,000	10,331,000	10,382,000	10,382,000
Cumulative Number of Reported claims	9,913
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 10,226,000	10,228,000	10,235,000	10,239,000	10,242,000	10,270,000	10,553,000	9,707,000
2012 \| Homeowners Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 3,889,000	3,824,000	4,331,000	5,304,000	6,464,000	7,514,000	7,514,000	7,514,000
Cumulative Number of Reported claims	249
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 3,646,000	3,606,000	3,600,000	3,029,000	2,731,000	2,308,000	2,063,000	1,389,000
2012 \| Homeowners Property Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	41,887,000	41,895,000	42,382,000	43,097,000	44,380,000	47,392,000	49,911,000	50,351,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 148,000
Cumulative Number of Reported claims	6,051
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 41,736,000	41,736,000	41,789,000	41,782,000	41,737,000	41,960,000	40,681,000	$ 30,801,000
2013 \| Private Passenger Automobile Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	175,684,000	176,713,000	179,167,000	181,492,000	183,264,000	183,517,000	183,367,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ (1,155,000)
Cumulative Number of Reported claims \| claim	54,248
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 173,890,000	172,736,000	169,634,000	163,694,000	152,472,000	135,031,000	79,049,000
2013 \| Private Passenger Automobile Physical Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 112,029,000	112,060,000	112,096,000	112,197,000	113,034,000	114,239,000	114,389,000
Cumulative Number of Reported claims \| claim	131,703
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 112,029,000	112,060,000	112,085,000	112,162,000	112,894,000	115,904,000	120,843,000
2013 \| Commercial Automobile Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	25,443,000	25,986,000	26,310,000	26,864,000	28,377,000	29,541,000	29,175,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 421,000
Cumulative Number of Reported claims	5,783
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 24,507,000	23,867,000	22,434,000	21,129,000	19,625,000	17,079,000	8,502,000
2013 \| Commercial Automobile Physical Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	13,071,000	13,047,000	13,057,000	13,180,000	13,298,000	13,567,000	13,666,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 5,000
Cumulative Number of Reported claims	12,298
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 13,066,000	13,060,000	13,065,000	13,074,000	13,114,000	13,378,000	12,665,000
2013 \| Homeowners Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	5,147,000	5,312,000	5,978,000	7,578,000	9,337,000	9,768,000	9,768,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ (79,000)
Cumulative Number of Reported claims	264
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 4,209,000	4,038,000	3,829,000	3,493,000	3,080,000	2,337,000	527,000
2013 \| Homeowners Property Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	49,463,000	49,973,000	51,077,000	52,464,000	55,722,000	56,199,000	56,298,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 100,000
Cumulative Number of Reported claims	5,698
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 49,328,000	49,620,000	49,653,000	49,612,000	49,702,000	48,456,000	$ 38,661,000
2014 \| Private Passenger Automobile Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	179,251,000	181,312,000	183,119,000	186,798,000	187,104,000	187,305,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ (1,531,000)
Cumulative Number of Reported claims \| claim	52,787
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 176,616,000	173,163,000	166,815,000	156,693,000	136,434,000	79,151,000
2014 \| Private Passenger Automobile Physical Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	122,213,000	122,341,000	122,327,000	122,410,000	123,622,000	123,421,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ (38,000)
Cumulative Number of Reported claims \| claim	135,006
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 122,251,000	122,350,000	122,402,000	122,668,000	126,414,000	130,732,000
2014 \| Commercial Automobile Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	32,438,000	32,948,000	33,914,000	34,376,000	34,105,000	34,117,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 53,000
Cumulative Number of Reported claims	6,085
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 30,420,000	27,886,000	25,253,000	21,968,000	17,853,000	9,426,000
2014 \| Commercial Automobile Physical Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	15,381,000	15,353,000	15,419,000	15,455,000	16,925,000	17,426,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 5,000
Cumulative Number of Reported claims	13,545
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 15,376,000	15,381,000	15,388,000	15,424,000	15,862,000	15,377,000
2014 \| Homeowners Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	6,984,000	7,120,000	7,388,000	9,738,000	11,494,000	11,494,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 92,000
Cumulative Number of Reported claims	261
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 6,315,000	4,828,000	4,200,000	3,212,000	1,834,000	340,000
2014 \| Homeowners Property Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	54,607,000	55,127,000	57,331,000	59,751,000	60,213,000	59,160,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 284,000
Cumulative Number of Reported claims	6,077
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 54,274,000	54,262,000	54,224,000	54,088,000	52,161,000	$ 40,409,000
2015 \| Private Passenger Automobile Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	181,299,000	184,477,000	188,317,000	190,236,000	190,036,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ (1,082,000)
Cumulative Number of Reported claims \| claim	52,976
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 173,816,000	168,641,000	156,483,000	138,255,000	76,934,000
2015 \| Private Passenger Automobile Physical Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	133,581,000	133,737,000	134,101,000	136,661,000	140,219,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ (58,000)
Cumulative Number of Reported claims \| claim	144,272
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 133,639,000	133,701,000	134,066,000	136,760,000	143,532,000
2015 \| Commercial Automobile Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	38,015,000	37,730,000	36,610,000	36,150,000	35,371,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ (620,000)
Cumulative Number of Reported claims	7,211
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 31,537,000	29,804,000	26,018,000	21,700,000	11,181,000
2015 \| Commercial Automobile Physical Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	18,641,000	18,974,000	19,021,000	19,047,000	20,223,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 100,000
Cumulative Number of Reported claims	15,468
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 18,541,000	18,549,000	18,667,000	18,910,000	17,787,000
2015 \| Homeowners Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	9,201,000	9,201,000	9,908,000	12,555,000	12,965,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ (483,000)
Cumulative Number of Reported claims	287
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 6,445,000	5,205,000	4,267,000	3,319,000	428,000
2015 \| Homeowners Property Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	162,722,000	162,788,000	162,377,000	152,049,000	152,586,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 434,000
Cumulative Number of Reported claims	20,075
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 161,773,000	161,745,000	160,572,000	145,337,000	$ 112,563,000
2016 \| Private Passenger Automobile Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	180,486,000	185,009,000	192,318,000	192,912,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ (2,625,000)
Cumulative Number of Reported claims \| claim	49,368
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 167,458,000	154,964,000	137,917,000	78,862,000
2016 \| Private Passenger Automobile Physical Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	121,717,000	122,116,000	124,922,000	129,528,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ (78,000)
Cumulative Number of Reported claims \| claim	126,080
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 121,795,000	122,023,000	124,298,000	133,530,000
2016 \| Commercial Automobile Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	40,916,000	40,947,000	39,416,000	37,954,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ (821,000)
Cumulative Number of Reported claims	6,452
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 32,274,000	25,711,000	19,902,000	9,991,000
2016 \| Commercial Automobile Physical Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	17,808,000	17,909,000	18,506,000	20,216,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 96,000
Cumulative Number of Reported claims	13,593
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 17,712,000	17,763,000	18,143,000	17,228,000
2016 \| Homeowners Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	9,847,000	10,594,000	10,594,000	10,594,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 867,000
Cumulative Number of Reported claims	272
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 5,387,000	4,257,000	2,669,000	647,000
2016 \| Homeowners Property Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	61,262,000	64,208,000	66,442,000	67,116,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 1,334,000
Cumulative Number of Reported claims	5,419
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 59,449,000	59,155,000	57,238,000	$ 44,103,000
2017 \| Private Passenger Automobile Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	182,068,000	184,429,000	185,673,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ (9,052,000)
Cumulative Number of Reported claims \| claim	46,154
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 153,675,000	133,037,000	77,519,000
2017 \| Private Passenger Automobile Physical Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	124,128,000	126,304,000	128,340,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ (206,000)
Cumulative Number of Reported claims \| claim	123,989
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 124,286,000	126,822,000	132,409,000
2017 \| Commercial Automobile Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	41,055,000	41,373,000	42,865,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 1,263,000
Cumulative Number of Reported claims	6,123
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 24,409,000	20,106,000	10,407,000
2017 \| Commercial Automobile Physical Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	19,021,000	19,200,000	19,691,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 103,000
Cumulative Number of Reported claims	13,112
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 18,915,000	19,336,000	17,957,000
2017 \| Homeowners Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	9,328,000	10,058,000	11,276,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 346,000
Cumulative Number of Reported claims	265
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 2,913,000	1,676,000	305,000
2017 \| Homeowners Property Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	70,689,000	76,560,000	80,736,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 316,000
Cumulative Number of Reported claims	6,006
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 66,181,000	64,401,000	$ 46,366,000
2018 \| Private Passenger Automobile Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	175,222,000	176,411,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ (10,581,000)
Cumulative Number of Reported claims \| claim	42,785
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 126,456,000	72,895,000
2018 \| Private Passenger Automobile Physical Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	130,145,000	129,450,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ (3,085,000)
Cumulative Number of Reported claims \| claim	119,644
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 132,591,000	138,036,000
2018 \| Commercial Automobile Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	40,115,000	41,347,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 5,365,000
Cumulative Number of Reported claims	5,700
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 18,499,000	9,704,000
2018 \| Commercial Automobile Physical Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	19,937,000	21,230,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 91,000
Cumulative Number of Reported claims	12,897
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 19,842,000	18,842,000
2018 \| Homeowners Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	9,951,000	9,951,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ (1,402,000)
Cumulative Number of Reported claims	242
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 2,039,000	551,000
2018 \| Homeowners Property Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	82,581,000	83,443,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ (3,163,000)
Cumulative Number of Reported claims	8,223
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 70,959,000	$ 57,704,000
2019 \| Private Passenger Automobile Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	176,171,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ (7,596,000)
Cumulative Number of Reported claims \| claim	37,565
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 72,219,000
2019 \| Private Passenger Automobile Physical Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	128,698,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ (21,574,000)
Cumulative Number of Reported claims \| claim	113,983
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 134,429,000
2019 \| Commercial Automobile Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	51,679,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 14,371,000
Cumulative Number of Reported claims	4,895
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 12,113,000
2019 \| Commercial Automobile Physical Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	20,039,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 220,000
Cumulative Number of Reported claims	12,010
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 18,128,000
2019 \| Homeowners Liability
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	14,130,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 5,132,000
Cumulative Number of Reported claims	208
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 1,634,000
2019 \| Homeowners Property Damage
incurred and paid claims development
Incurred claims and allocated claim adjustment expenses, net of reinsurance	77,976,000
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims	$ 2,127,000
Cumulative Number of Reported claims	5,184
Cumulative paid and allocated claim adjustment expenses, net of reinsurance	$ 49,121,000

Loss and Loss Adjustment Expe_5

Loss and Loss Adjustment Expense Reserves - Supplementary information about average historical claims (Details)	12 Months Ended
	Dec. 31, 2019
Private Passenger Automobile Liability
Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Year 1	43.70%
Year 2	32.00%
Year 3	10.30%
Year 4	6.50%
Year 5	3.10%
Year 6	1.70%
Year 7	0.60%
Year 8	0.20%
Year 9	0.00%
Year 10	0.00%
Private Passenger Automobile Physical Damage
Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Year 1	107.40%
Year 2	(5.1)
Year 3	(2.3)
Year 4	(0.4)
Year 5	(0.1)
Year 6	0.00%
Year 7	0.00%
Year 8	0.00%
Year 9	0.00%
Year 10	0.00%
Commercial Automobile Liability
Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Year 1	27.50%
Year 2	26.30%
Year 3	12.50%
Year 4	10.60%
Year 5	5.90%
Year 6	5.90%
Year 7	1.60%
Year 8	2.60%
Year 9	0.10%
Year 10	0.10%
Commercial Automobile Physical Damage
Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Year 1	95.40%
Year 2	5.50%
Year 3	(1.9)
Year 4	(0.3)
Year 5	(0.1)
Year 6	0
Year 7	0.00%
Year 8	0.00%
Year 9	0.00%
Year 10	0.00%
Homeowners Liability
Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Year 1	9.10%
Year 2	22.30%
Year 3	16.90%
Year 4	11.50%
Year 5	8.90%
Year 6	10.40%
Year 7	2.60%
Year 8	0.30%
Year 9	0.00%
Year 10	0.00%
Homeowners Property Damage
Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Year 1	70.60%
Year 2	21.20%
Year 3	4.80%
Year 4	0.40%
Year 5	0.00%
Year 6	0.00%
Year 7	(0.20%)
Year 8	0.00%
Year 9	(0.20%)
Year 10	0.00%

Loss and Loss Adjustment Expe_6

Loss and Loss Adjustment Expense Reserves - Disclosure of Incurred and Paid Claims Development to the Liability for Unpaid claims and Claim Adjustment Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reconciliation of the Disclosure of Incurred and Paid Claims Development to the Liability for Unpaid claims and Claim Adjustment Expenses
Net outstanding liabilities	$ 458,014
Reinsurance recoverable on unpaid claims	122,372	$ 108,398	$ 83,085
Unallocated claims adjustment expenses	30,180
Total gross liability for unpaid claims and claim adjustment expenses	610,566	$ 584,719	$ 574,054	$ 560,321
Private Passenger Automobile Liability
Reconciliation of the Disclosure of Incurred and Paid Claims Development to the Liability for Unpaid claims and Claim Adjustment Expenses
Net outstanding liabilities	206,964
Reinsurance recoverable on unpaid claims	238
Private Passenger Automobile Physical Damage
Reconciliation of the Disclosure of Incurred and Paid Claims Development to the Liability for Unpaid claims and Claim Adjustment Expenses
Net outstanding liabilities	(8,509)
Commercial Automobile Liability
Reconciliation of the Disclosure of Incurred and Paid Claims Development to the Liability for Unpaid claims and Claim Adjustment Expenses
Net outstanding liabilities	96,567
Reinsurance recoverable on unpaid claims	116,756
Commercial Automobile Physical Damage
Reconciliation of the Disclosure of Incurred and Paid Claims Development to the Liability for Unpaid claims and Claim Adjustment Expenses
Net outstanding liabilities	2,318
Reinsurance recoverable on unpaid claims	2,255
Homeowners Liability
Reconciliation of the Disclosure of Incurred and Paid Claims Development to the Liability for Unpaid claims and Claim Adjustment Expenses
Net outstanding liabilities	35,968
Homeowners Property Damage
Reconciliation of the Disclosure of Incurred and Paid Claims Development to the Liability for Unpaid claims and Claim Adjustment Expenses
Net outstanding liabilities	49,251
Reinsurance recoverable on unpaid claims	1
Other short-Duration Insurance Lines
Reconciliation of the Disclosure of Incurred and Paid Claims Development to the Liability for Unpaid claims and Claim Adjustment Expenses
Net outstanding liabilities	75,455
Reinsurance recoverable on unpaid claims	$ 3,122

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	Dec. 22, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current Income Taxes:
Federal		$ 19,280	$ 26,548	$ 22,198
State		43	108	30
Current Income Tax Expense (Benefit), Total		19,323	26,656	22,228
Deferred Income Taxes:
Federal		4,757	(5,600)	2,085
Deferred Income Tax Expense (Benefit), Total		4,757	(5,600)	2,085
Total income tax expense (benefit)		$ 24,080	$ 21,056	$ 24,313
Statutory tax rate	35.00%	21.00%

Income Taxes (Sources of Differ

Income Taxes (Sources of Difference and Tax Effects) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Sources of the difference and the tax effects
Federal income tax expense (benefit), at statutory rate	$ 25,973	$ 21,893	$ 30,345
Tax-exempt investment income, net	(1,626)	(1,862)	(4,123)
State taxes, net	34	85	19
Nondeductible expenses	488	494	237
Remeasurement of deferred tax liability upon enactment of the TCJA			(1,540)
Tax windfall related to share-based stock compensation	(1,003)	(79)	(333)
Other, net	214	525	(292)
Total income tax expense (benefit)	$ 24,080	$ 21,056	$ 24,313

Income Taxes (Temporary Differe

Income Taxes (Temporary Differences) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Discounting of loss reserves	$ 5,642	$ 5,688
Discounting of unearned premium reserve	17,710	17,475
Investments		1,972
Bad debt allowance	274	274
Employee benefits	4,340	4,159
Rent incentive	1,063	1,181
Total deferred tax assets before valuation allowance	29,029	30,749
Total deferred tax assets	29,029	30,749
Deferred tax liabilities:
Deferred acquisition costs	(15,600)	(15,405)
Investments	(1,744)
Net unrealized gains on investments	(11,985)	(1,645)
Loss reserve transition adjustment	(1,662)	(2,229)
Software development costs	(2,109)	(1,268)
Premium acquisition expenses	(509)	(512)
Depreciation	(1,137)	(941)
Total deferred tax liabilities	(34,746)	(22,000)
Net deferred tax (liability) asset	(5,717)
Net deferred tax (liability) asset		8,749
Unrecognized tax benefits	0	0
Unrecognized tax benefits if recognized would affect the effective tax rate	0	0
Unrecognized tax benefits interest and penalties accrued	$ 0	$ 0

Share Repurchase Program (Detai

Share Repurchase Program (Details) - USD ($) $ in Thousands	24 Months Ended
Share Repurchase Program (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Aug. 03, 2007
Share Repurchase Program
Share Repurchase Program	$ 150,000		$ 30,000
Number of common shares purchased during period under the program	0
Treasury stock shares	2,279,570	2,279,570
Treasury stock, at cost	$ 83,835	$ 83,835

Statutory Net Income and Surp_2

Statutory Net Income and Surplus (Details) $ in Thousands	12 Months Ended
Statutory Net Income and Surplus (Details) $ in Thousands	Dec. 31, 2019USD ($)item	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Statutory Net Income and Surplus
Statutory net income	$ 75,469
Statutory capital and surplus	$ 704,177
Period of statutory measurement of income and dividends	12 months
Maximum available for dividends without approval	$ 75,469
Company's insurance company subsidiaries
Statutory Net Income and Surplus
Statutory net income	75,469	$ 86,734	$ 57,982
Statutory capital and surplus	$ 704,177	$ 646,820
Dividend limitation without prior permission, percentage of preceding surplus	10.00%
Period allowed for Commissioner to object to notice of an extraordinary dividend	30 days
Restricted net assets amount	$ 628,708
Number of levels of regulatory action, risk-based capital law \| item	4
Minimum statutory capital and surplus or company action level risk-based capital	$ 184,601
Safety Insurance Company
Statutory Net Income and Surplus
Statutory capital and surplus	704,177
Recorded dividends	$ 47,585

Fair Value of Financial Instr_3

Fair Value of Financial Instruments Level 1 - 3 Inputs (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair value of financial instruments
Fixed maturity securities, Estimated Fair Value	$ 1,228,040	$ 1,161,862
Equity securities, Estimated Fair Value	177,637	148,011
Short-term investments	0
Marketable Securities, Total	1,228,040	1,161,862
Total
Fair value of financial instruments
Marketable Securities, Total	1,372,917	1,278,035
Total \| U.S. Treasury securities
Fair value of financial instruments
Fixed maturity securities, Estimated Fair Value	1,512	1,777
Total \| Obligations of states and political subdivisions
Fair value of financial instruments
Fixed maturity securities, Estimated Fair Value	251,396	266,198
Total \| Residential mortgage-backed securities
Fair value of financial instruments
Fixed maturity securities, Estimated Fair Value	307,202	297,023
Total \| Commercial mortgage-backed securities
Fair value of financial instruments
Fixed maturity securities, Estimated Fair Value	109,738	60,336
Total \| Other asset-backed securities
Fair value of financial instruments
Fixed maturity securities, Estimated Fair Value	36,222	61,076
Total \| Corporate and other securities
Fair value of financial instruments
Fixed maturity securities, Estimated Fair Value	521,970	475,452
Total \| Equity securities
Fair value of financial instruments
Equity securities, Estimated Fair Value	144,877	116,173
Level 1 Inputs
Fair value of financial instruments
Marketable Securities, Total	144,361	115,493
Level 1 Inputs \| Equity securities
Fair value of financial instruments
Equity securities, Estimated Fair Value	144,361	115,493
Level 2 Inputs
Fair value of financial instruments
Marketable Securities, Total	1,228,040	1,161,862
Level 2 Inputs \| U.S. Treasury securities
Fair value of financial instruments
Fixed maturity securities, Estimated Fair Value	1,512	1,777
Level 2 Inputs \| Obligations of states and political subdivisions
Fair value of financial instruments
Fixed maturity securities, Estimated Fair Value	251,396	266,198
Level 2 Inputs \| Residential mortgage-backed securities
Fair value of financial instruments
Fixed maturity securities, Estimated Fair Value	307,202	297,023
Level 2 Inputs \| Commercial mortgage-backed securities
Fair value of financial instruments
Fixed maturity securities, Estimated Fair Value	109,738	60,336
Level 2 Inputs \| Other asset-backed securities
Fair value of financial instruments
Fixed maturity securities, Estimated Fair Value	36,222	61,076
Level 2 Inputs \| Corporate and other securities
Fair value of financial instruments
Fixed maturity securities, Estimated Fair Value	521,970	475,452
Level 3 Inputs
Fair value of financial instruments
Marketable Securities, Total	516	680
Level 3 Inputs \| Equity securities
Fair value of financial instruments
Equity securities, Estimated Fair Value	$ 516	$ 680

Fair Value of Financial Instr_4

Fair Value of Financial Instruments Transfers between Levels (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Transfers between Levels
Transfers from Level 1 to Level 2	$ 0
Changes in the Company's Level 3 fair value securities
Balance at beginning of period	680	$ 680	$ 678
Purchases	133		2
Sales	(297)
Transfers into Level 3	0	0	0
Transfers out of Level 3	0	0	0
Balance at end of period	$ 516	680	$ 680
Period of advance notice before quarter end	45 days
Accounting Standards Update 2015-07
Changes in the Company's Level 3 fair value securities
Alternative investments fair value	$ 32,760	$ 31,838

Quarterly Results of Operatio_3

Quarterly Results of Operations (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Results of Operations
Total revenue	$ 223,899	$ 215,273	$ 216,002	$ 222,579	$ 202,901	$ 215,907	$ 207,970	$ 209,719	$ 877,753	$ 836,497	$ 839,113
Net income	$ 28,102	$ 15,619	$ 25,934	$ 29,946	$ 18,346	$ 28,908	$ 26,816	$ 9,125	$ 99,601	$ 83,195	$ 62,387
Earnings per weighted average common share:
Basic (in dollars per share)	$ 1.84	$ 1.02	$ 1.70	$ 1.97	$ 1.21	$ 1.90	$ 1.77	$ 0.60	$ 6.52	$ 5.48	$ 4.13
Diluted (in dollars per share)	1.82	1.01	1.68	1.95	1.19	1.88	1.75	0.60	6.46	5.43	4.10
Cash dividends paid per common share (in dollars per share)	$ 0.90	$ 0.90	$ 0.80	$ 0.80	$ 0.80	$ 0.80	$ 0.80	$ 0.80	$ 3.40	$ 3.20	$ 3

Schedule I - Summary of Inves_2

Schedule I - Summary of Investments - Other than Investments in Related Parties (Details) $ in Thousands	Dec. 31, 2019USD ($)
Summary of investments - other than investments in related parties
Cost or Amortized Cost	$ 1,380,756
Estimated Fair Value	1,442,955
Amount at which shown in the Balance Sheet	1,442,955
Total fixed maturities
Summary of investments - other than investments in related parties
Cost or Amortized Cost	1,192,357
Estimated Fair Value	1,228,040
Amount at which shown in the Balance Sheet	1,228,040
U.S. government and government agencies and authorities
Summary of investments - other than investments in related parties
Cost or Amortized Cost	303,007
Estimated Fair Value	308,714
Amount at which shown in the Balance Sheet	308,714
Obligations of states and political subdivisions
Summary of investments - other than investments in related parties
Cost or Amortized Cost	241,597
Estimated Fair Value	251,396
Amount at which shown in the Balance Sheet	251,396
Corporate and other securities
Summary of investments - other than investments in related parties
Cost or Amortized Cost	647,753
Estimated Fair Value	667,930
Amount at which shown in the Balance Sheet	667,930
Total equity securities
Summary of investments - other than investments in related parties
Cost or Amortized Cost	151,121
Estimated Fair Value	177,637
Amount at which shown in the Balance Sheet	177,637
Industrial, miscellaneous and all other
Summary of investments - other than investments in related parties
Cost or Amortized Cost	151,121
Estimated Fair Value	177,637
Amount at which shown in the Balance Sheet	177,637
Other invested assets
Summary of investments - other than investments in related parties
Cost or Amortized Cost	37,278
Estimated Fair Value	37,278
Amount at which shown in the Balance Sheet	$ 37,278

Schedule II - Condensed Finan_2

Schedule II - Condensed Financial Information of the Registrant (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Assets
Investments in consolidated affiliates	$ 37,278	$ 23,481
Other	23,798	19,522
Total assets	2,022,669	1,856,240
Liabilities
Total liabilities	1,214,263	1,137,596
Shareholders' equity	808,406	718,644	$ 701,016	$ 670,726
Total liabilities and shareholders' equity	2,022,669	1,856,240
Registrant
Assets
Investments in consolidated affiliates	810,251	720,721
Other	54	69
Total assets	810,305	720,790
Liabilities
Accounts payable and other liabilities	1,899	2,146
Total liabilities	1,899	2,146
Shareholders' equity	808,406	718,644
Total liabilities and shareholders' equity	$ 810,305	$ 720,790

Schedule II - Condensed Finan_3

Schedule II - Condensed Financial Information of the Registrant Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Condensed Statements of Income and Comprehensive Income
Revenues	$ 223,899	$ 215,273	$ 216,002	$ 222,579	$ 202,901	$ 215,907	$ 207,970	$ 209,719	$ 877,753	$ 836,497	$ 839,113
Expenses									754,072	732,246	752,413
Net income	$ 28,102	$ 15,619	$ 25,934	$ 29,946	$ 18,346	$ 28,908	$ 26,816	$ 9,125	99,601	83,195	62,387
Other comprehensive (loss) income, net of tax									38,896	(22,816)	8,426
Comprehensive income									138,497	60,379	70,813
Registrant
Condensed Statements of Income and Comprehensive Income
Expenses									1,694	1,695	1,494
Net loss									(1,694)	(1,695)	(1,494)
Earnings from consolidated subsidiaries									101,295	84,890	63,881
Net income									99,601	83,195	62,387
Other comprehensive (loss) income, net of tax									38,896	(22,816)	8,426
Comprehensive income									$ 138,497	$ 60,379	$ 70,813

Schedule II - Condensed Finan_4

Schedule II - Condensed Financial Information of the Registrant Cash Flow (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Condensed Statements of Cash Flows
Net income	$ 28,102	$ 15,619	$ 25,934	$ 29,946	$ 18,346	$ 28,908	$ 26,816	$ 9,125	$ 99,601	$ 83,195	$ 62,387
Adjustments to reconcile net income to net cash provided by operating activities:
Earnings from consolidated subsidiaries									(1,552)	(1,182)	(1,016)
Changes in assets and liabilities:
Other assets									(1,864)	2,565	(5,400)
Accounts payable and accrued liabilities									3,395	10,678	(6,333)
Net cash provided by operating activities									112,456	127,691	82,040
Dividends paid									(52,667)	(48,813)	(45,460)
Net cash used for financing activities									(52,667)	(48,813)	(45,460)
Net increase (decrease) in cash and cash equivalents									6,825	(4,126)	21,656
Cash and cash equivalents at beginning of year				$ 37,582				$ 41,708	37,582	41,708	20,052
Cash and cash equivalents at end of period	$ 44,407				$ 37,582				44,407	37,582	41,708
Registrant
Condensed Statements of Cash Flows
Net income									99,601	83,195	62,387
Adjustments to reconcile net income to net cash provided by operating activities:
Earnings from consolidated subsidiaries									(101,295)	(84,890)	(63,881)
Dividends received from consolidated subsidiaries									47,585	45,271	41,826
Amortization of restricted stock expense									6,514	5,789	5,367
Changes in assets and liabilities:
Other assets									15	(60)	15
Accounts payable and accrued liabilities									247	(492)	(254)
Net cash provided by operating activities									52,667	48,813	45,460
Dividends paid									(52,667)	(48,813)	(45,460)
Net cash used for financing activities									$ (52,667)	$ (48,813)	$ (45,460)

Schedule III - Supplementary _2

Schedule III - Supplementary Insurance Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule III - Supplementary Insurance Information
Deferred Policy Acquisition Costs	$ 74,287	$ 73,355	$ 72,202
Future Policy Benefits, Losses, Claims and Loss Expenses	610,566	584,719	574,054
Unearned Premiums	442,219	435,380	428,257
Earned Premiums	788,777	781,587	774,420
Premium Revenue	788,777	781,587	774,420
Net Investment Income	46,665	43,788	38,758
Benefits, Claims, Losses, and Settlement Expenses	509,846	485,513	503,887
Amortization of Deferred Policy Acquisition Costs	147,945	146,601	144,703
Other Operating Expenses	96,191	100,042	103,733
Premiums Written	$ 794,409	$ 786,912	$ 781,054

Schedule IV - Reinsurance (Deta

Schedule IV - Reinsurance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Insurance Earned Premiums
Gross Amount	$ 845,102	$ 836,759	$ 818,804
Ceded to Other Companies	89,178	87,368	76,886
Assumed from Other Companies	32,853	32,196	32,502
Net Amount	788,777	781,587	774,420
Property and Casualty Insurance
Insurance Earned Premiums
Gross Amount	845,102	836,759	818,804
Ceded to Other Companies	89,178	87,368	76,886
Assumed from Other Companies	32,853	32,196	32,502
Net Amount	$ 788,777	$ 781,587	$ 774,420
Percentage of Amount Assumed to Net	4.20%	4.10%	4.20%

Schedule V - Valuation and Qu_2

Schedule V - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Movement in valuation and qualifying accounts
Balance at Beginning of Period	$ 482	$ 414	$ 435
Charged to Costs and Expenses	1,358	1,338	1,203
Deductions	1,262	1,270	1,224
Balance at End of Period	$ 578	$ 482	$ 414

Schedule VI - Supplemental In_2

Schedule VI - Supplemental Information Concerning Property and Casualty Insurance Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Supplemental Information Concerning Property and Casualty Insurance Operations
Earned Premiums	$ 788,777	$ 781,587	$ 774,420
Current year	551,895	542,001	545,671
Prior year	(42,049)	(56,488)	(41,784)
Consolidated Property & Casualty Subsidiaries
Supplemental Information Concerning Property and Casualty Insurance Operations
Deferred Policy Acquisition Costs	74,287	73,355	72,202
Reserves for Unpaid Claims and Claims Adjustment Expenses	610,566	584,719	574,054
Unearned Premiums	442,219	435,380	428,257
Earned Premiums	788,777	781,587	774,420
Net Investment Income	46,665	43,788	38,758
Current year	551,895	542,001	545,671
Prior year	(42,049)	(56,488)	(41,784)
Amortization of Deferred Policy Acquisition Costs	147,945	146,601	144,703
Paid Claims and Claims Adjustment Expenses	497,973	500,161	489,515
Premiums Written	$ 794,409	$ 786,912	$ 781,054