Mercury General (MCY) 10-K 12 Feb 20 2019 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2019	Feb. 06, 2020	Jun. 30, 2019
Cover page.
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	001-12257
Entity Registrant Name	MERCURY GENERAL CORPORATION
Entity Incorporation, State or Country Code	CA
Entity Tax Identification Number	95-2211612
Entity Address, Address Line One	4484 Wilshire Boulevard
Entity Address, City or Town	Los Angeles,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90010
City Area Code	323
Local Phone Number	937-1060
Title of 12(b) Security	Common Stock
Trading Symbol	MCY
Security Exchange Name	NYSE
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 Public Float			$ 1,704,918,875
Entity Common Stock, Shares Outstanding		55,357,691
Documents Incorporated by Reference	Certain information from the registrant’s definitive proxy statement for the 2020 Annual Meeting of Shareholders is incorporated herein by reference into Part III hereof.
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Central Index Key	0000064996
Current Fiscal Year End Date	--12-31

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Investments, at fair value:
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	$ 3,093,275	$ 2,985,161
Equity securities (cost $648,282; $544,082)	724,751	529,631
Short-term investments (cost $494,060; $254,518)	494,135	253,299
Total investments	4,312,161	3,768,091
Cash	294,398	314,291
Receivables:
Premiums	604,871	555,038
Accrued investment income	40,107	45,373
Other	6,464	6,132
Total receivables	651,442	606,543
Reinsurance recoverables	78,774	221,088
Deferred policy acquisition costs	233,166	215,131
Fixed assets, net	168,986	153,023
Operating lease right-of-use assets	44,909
Current income taxes	7,642	38,885
Deferred income taxes	0	13,339
Goodwill	42,796	42,796
Other intangible assets, net	10,636	15,534
Other assets	44,247	45,008
Total assets	5,889,157	5,433,729
Liabilities
Loss and loss adjustment expense reserves	1,921,255	1,829,412
Unearned premiums	1,355,547	1,236,181
Notes payable	372,133	371,734
Accounts payable and accrued expenses	143,318	115,071
Operating lease liabilities	47,996
Deferred income taxes	27,964	0
Other liabilities	221,442	263,647
Total liabilities	4,089,655	3,816,045
Commitments and contingencies
Shareholders’ equity:
Authorized 70,000 shares; issued and outstanding 55,358; 55,340	98,828	98,026
Retained earnings	1,700,674	1,519,658
Total shareholders’ equity	1,799,502	1,617,684
Total liabilities and shareholders’ equity	$ 5,889,157	$ 5,433,729

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Amortized cost on fixed maturities trading investments	$ 2,973,276	$ 2,969,541
Cost - equity security trading investments	648,282	544,082
Cost - short-term investments	$ 494,060	$ 254,518
Common Stock
Common stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	70,000,000	70,000,000
Common stock, shares issued (in shares)	55,358,000	55,340,000
Common stock, shares outstanding (in shares)	55,358,000	55,340,000

Consolidated Statements Of Oper

Consolidated Statements Of Operations - 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
Revenues:
Net premiums earned	$ 925,384	$ 915,012	$ 888,776	$ 870,245	$ 868,233	$ 858,135	$ 833,959	$ 808,084	$ 3,599,418	$ 3,368,411	$ 3,195,437
Net investment income									141,263	135,838	124,930
Net realized investment gains (losses)									222,793	(133,520)	83,650
Other									9,044	9,275	11,945
Total revenues									3,972,518	3,380,004	3,415,962
Expenses:
Losses and loss adjustment expenses									2,706,024	2,576,789	2,444,884
Policy acquisition costs									602,085	572,164	555,350
Other operating expenses									269,305	244,630	233,475
Interest									17,035	17,036	15,168
Total expenses									3,594,449	3,410,619	3,248,877
Income (loss) before income taxes	28,465	80,840	101,595	167,169	(114,448)	70,286	73,246	(59,699)	378,069	(30,615)	167,085
Income tax expense (benefit)									57,982	(24,887)	22,208
Net income (loss)	$ 31,688	$ 69,282	$ 83,250	$ 135,867	$ (81,879)	$ 58,578	$ 60,180	$ (42,607)	$ 320,087	$ (5,728)	$ 144,877
Net income (loss) per share:
Basic (in dollars per share)	$ 0.57	$ 1.25	$ 1.50	$ 2.46	$ (1.48)	$ 1.06	$ 1.09	$ (0.77)	$ 5.78	$ (0.10)	$ 2.62
Diluted (in dollars per share)	$ 0.57	$ 1.25	$ 1.50	$ 2.45	$ (1.48)	$ 1.06	$ 1.09	$ (0.77)	$ 5.78	$ (0.10)	$ 2.62

Consolidated Statements Of Shar

Consolidated Statements Of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Retained Earnings [Member]
Beginning of year at Dec. 31, 2016		$ 95,529	$ 1,656,873
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Proceeds of stock options exercised		2,102
Reclassification of restricted stock units from equity to liability award		(168)
Share-based compensation expense		60
Withholding tax on stock options exercised		0
Net income (loss)	$ 144,877		144,877
Dividends paid to shareholders			(137,886)
End of year at Dec. 31, 2017	1,761,387	97,523	1,663,864
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Proceeds of stock options exercised		358
Reclassification of restricted stock units from equity to liability award		0
Share-based compensation expense		145
Withholding tax on stock options exercised		0
Net income (loss)	(5,728)		(5,728)
Dividends paid to shareholders			(138,478)
End of year at Dec. 31, 2018	1,617,684	98,026	1,519,658
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Proceeds of stock options exercised		701
Reclassification of restricted stock units from equity to liability award		0
Share-based compensation expense		123
Withholding tax on stock options exercised		(22)
Net income (loss)	320,087		320,087
Dividends paid to shareholders			(139,071)
End of year at Dec. 31, 2019	$ 1,799,502	$ 98,828	$ 1,700,674

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 (loss)	$ 320,087	$ (5,728)	$ 144,877
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	64,730	58,791	55,343
Net realized investment (gains) losses	(222,793)	133,520	(83,650)
Increase in premiums receivable	(49,832)	(80,979)	(14,908)
Decrease (increase) in reinsurance recoverables	142,314	(164,739)	(43,043)
Gain on sale of fixed assets	0	0	(3,078)
Changes in current and deferred income taxes	72,545	(13,898)	(3,010)
(Increase) decrease in deferred policy acquisition costs	(18,035)	(16,980)	2,675
Increase in loss and loss adjustment expense reserves	91,843	318,799	220,365
Increase in unearned premiums	119,366	134,254	27,490
Increase (decrease) in accounts payable and accrued expenses	26,493	6,586	(4,178)
Share-based compensation	123	145	60
Other, net	(27,163)	13,663	42,462
Net cash provided by operating activities	519,678	383,434	341,405
Fixed maturity securities available for sale in nature:
Purchases	(491,795)	(706,224)	(734,397)
Sales	136,560	189,306	100,709
Calls or maturities	316,860	334,626	575,735
Equity securities available for sale in nature
Purchases	(1,174,759)	(1,026,827)	(831,310)
Sales	1,088,701	954,755	679,571
Calls	0	0	7,100
Changes in securities payable and receivable	(2,536)	4,035	(44,740)
(Increase) decrease in short-term investments	(240,391)	45,747	73,005
Purchase of fixed assets	(40,088)	(27,959)	(19,443)
Sale of fixed assets	0	0	6,239
Other, net	6,247	10,105	1,934
Net cash used in investing activities	(401,201)	(222,436)	(185,597)
CASH FLOWS FROM FINANCING ACTIVITIES
Dividends paid to shareholders	(139,071)	(138,478)	(137,886)
Proceeds from stock options exercised	701	358	2,162
Net proceeds from issuance of senior notes	0	0	371,011
Payoff of principal on loan and credit facilities	0	0	(320,000)
Net cash used in financing activities	(138,370)	(138,120)	(84,713)
Net (decrease) increase in cash	(19,893)	22,878	71,095
Cash:
Beginning of year	314,291	291,413	220,318
End of year	294,398	314,291	291,413
SUPPLEMENTAL CASH FLOW DISCLOSURE
Interest paid	16,586	16,586	9,863
Income taxes (refunded) paid, net	$ (14,564)	$ (10,989)	$ 25,218

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies General Mercury General Corporation ("Mercury General") and its subsidiaries (referred to herein collectively as the "Company") are primarily engaged in writing personal automobile insurance through 14 Insurance Companies in 11 states, principally California. The Company also writes homeowners, commercial automobile, commercial property, mechanical protection, fire, and umbrella insurance. The private passenger automobile line of insurance business was more than 74% of the Company’s direct premiums written in 2019 , 2018 , and 2017 , and approximately 88% , 87% , and 85% of the private passenger automobile premiums were written in California in 2019 , 2018 , and 2017 , respectively. Premiums written represents the premiums charged on policies issued during a fiscal period, which is a statutory measure designed to determine production levels. Consolidation and Basis of Presentation The consolidated financial statements include the accounts of Mercury General Corporation and its subsidiaries: Insurance Companies Mercury Casualty Company ("MCC") Mercury National Insurance Company Mercury Insurance Company ("MIC") American Mercury Insurance Company California Automobile Insurance Company ("CAIC") American Mercury Lloyds Insurance Company (1) California General Underwriters Insurance Company, Inc. Mercury County Mutual Insurance Company (2) Mercury Insurance Company of Illinois Mercury Insurance Company of Florida Mercury Insurance Company of Georgia Mercury Indemnity Company of America Mercury Indemnity Company of Georgia Workmen's Auto Insurance Company ("WAIC") Non-Insurance Companies Mercury Select Management Company, Inc. AIS Management LLC Mercury Insurance Services LLC Auto Insurance Specialists LLC Animas Funding LLC ("AFL") (3) PoliSeek AIS Insurance Solutions, Inc. Fannette Funding LLC ("FFL") (3) Mercury Plus Insurance Services LLC __________ (1) American Mercury Lloyds Insurance Company is not owned but is controlled by the Company through its attorney-in-fact, Mercury Select Management Company, Inc. (2) Mercury County Mutual Insurance Company is not owned but is controlled by the Company through a management contract. (3) Special purpose investment vehicle. The consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles ("GAAP"), which differ in some respects from those filed in reports to insurance regulatory authorities. All intercompany transactions and balances have been eliminated. Certain prior period amounts have been reclassified to conform with the current period presentation. The Company did not have other comprehensive income (loss) in 2019 , 2018 and 2017 . 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, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. These estimates require the Company to apply complex assumptions and judgments, and often the Company must make estimates about effects of matters that are inherently uncertain and will likely change in subsequent periods. The most significant assumptions in the preparation of these consolidated financial statements relate to reserves for losses and loss adjustment expenses. Actual results could differ from those estimates. Investments The Company applies the fair value option to all fixed maturity and equity securities and short-term investments at the time an eligible item is first recognized. The primary reasons for electing the fair value option were simplification and cost benefit considerations as well as the expansion of the use of fair value measurement by the Company consistent with the long-term measurement objectives of the Financial Accounting Standards Board (the "FASB") for accounting for financial instruments. See Note 2. Financial Instruments for additional information on the fair value option. Gains and losses due to changes in fair value for items measured at fair value pursuant to application of the fair value option are included in net realized investment gains (losses) in the Company's consolidated statements of operations, while interest and dividend income on investment holdings are recognized on an accrual basis on each measurement date and are included in net investment income in the Company's consolidated statements of operations. Fixed maturity securities include debt securities, which may have fixed or variable principal payment schedules, may be held for indefinite periods of time, and may be used as a part of the Company’s asset/liability strategy or sold in response to changes in interest rates, anticipated prepayments, risk/reward characteristics, liquidity needs, tax planning considerations, or other economic factors. Premiums and discounts on fixed maturities are amortized using first call date and are adjusted for anticipated prepayments. Premiums and discounts on mortgage-backed securities are adjusted for anticipated prepayment using the retrospective method, with the exception of some beneficial interests in securitized financial assets, which are accounted for using the prospective method. Equity securities consist of non-redeemable preferred stocks, common stocks on which dividend income is partially tax-sheltered by the 50% corporate dividend received deduction, and private equity funds. Short-term investments include money market accounts, options, and short-term bonds that are highly rated short duration securities and redeemable within one year. In the normal course of investing activities, the Company either forms or enters into relationships with variable interest entities ("VIEs"). A VIE is an entity that either has investors that lack certain essential characteristics of a controlling financial interest, such as simple majority kick-out rights, or lacks sufficient funds to finance its own activities without financial support provided by other entities. The Company performs ongoing qualitative assessments of the VIEs to determine whether the Company has a controlling financial interest in the VIE and therefore is the primary beneficiary. The Company is deemed to have a controlling financial interest when it has both the ability to direct the activities that most significantly impact the economic performance of the VIE and the obligation to absorb losses or right to receive benefits from the VIE that could potentially be significant to the VIE. Based on the Company's assessment, if it determines it is the primary beneficiary, the Company consolidates the VIE in its consolidated financial statements. The Company forms special purpose investment vehicles to facilitate its investment activities involving derivative instruments such as total return swaps, or limited partnerships or limited liability companies such as private equity funds. These special purpose investment vehicles are consolidated VIEs as the Company has determined it is the primary beneficiary of such VIEs. Creditors have no recourse against the Company in the event of default by these VIEs. The Company had no implied or unfunded commitments to these VIEs at December 31, 2019 and 2018 . The Company's financial or other support provided to these VIEs and its loss exposure are limited to its collateral and original investment. The Company invests, directly or indirectly through its consolidated VIEs, in limited partnerships or limited liability companies such as private equity funds. These investments are non-consolidated VIEs as the Company has determined it is not the primary beneficiary. The Company's maximum exposure to loss is limited to the total carrying value that is included in equity securities in the Company's consolidated balance sheets. At December 31, 2019 and 2018 , the Company had no outstanding unfunded commitments to these VIEs whereby the Company may be called by the VIEs during the commitment period to fund the purchase of new investments and the expenses of the VIEs. Securities on Deposit As required by statute, the Company’s insurance subsidiaries have securities deposited with the departments of insurance or similar governmental agencies in the states in which they are licensed to operate with fair values totaling $16 million and $15 million at December 31, 2019 and 2018 , respectively. Deferred Policy Acquisition Costs Deferred policy acquisition costs consist of commissions paid to outside agents, premium taxes, salaries, and certain other underwriting costs that are incremental or directly related to the successful acquisition of new and renewal insurance contracts and are amortized over the life of the related policy in proportion to premiums earned. Deferred policy acquisition costs are limited to the amount that will remain after deducting from unearned premiums and anticipated investment income, the estimated losses and loss adjustment expenses, and the servicing costs that will be incurred as premiums are earned. The Company’s deferred policy acquisition costs are further limited by excluding those costs not directly related to the successful acquisition of insurance contracts. The Company does not defer advertising expenditures but expenses them as incurred. The table below presents a summary of deferred policy acquisition cost amortization and net advertising expense: Year Ended December 31, 2019 2018 2017 (Amounts in millions) Deferred policy acquisition cost amortization $ 602.1 $ 572.2 $ 555.4 Net advertising expense 42.2 40.9 37.4 Fixed Assets Fixed assets are stated at historical cost less accumulated depreciation and amortization. The useful life for buildings is 30 to 40 years . Furniture, equipment, and purchased software are depreciated on a combination of straight-line and accelerated methods over 3 to 7 years . The Company has capitalized certain consulting costs, payroll, and payroll-related costs for employees related to computer software developed for internal use, which are amortized on a straight-line method over the estimated useful life of the software, generally not exceeding 7 years . In accordance with applicable accounting standards, capitalization ceases no later than the point at which a computer software project is substantially complete and ready for its intended use. Leasehold improvements are amortized over the shorter of the useful life of the assets or the life of the associated lease. The Company periodically assesses long-lived assets or asset groups including building and equipment, for recoverability when events or changes in circumstances indicate that their carrying amounts may not be recoverable. If the Company identifies an indicator of impairment, the Company assesses recoverability by comparing the carrying amount of the asset to the sum of the undiscounted cash flows expected to result from the use and the eventual disposal of the asset. An impairment loss is recognized when the carrying amount is not recoverable and is measured as the excess of carrying value over fair value. There were no impairment charges during 2019 , 2018 , and 2017 . Goodwill and Other Intangible Assets Goodwill and other intangible assets arise as a result of business acquisitions and consist of the excess of the cost of the acquisitions over the tangible and intangible assets acquired and liabilities assumed and identifiable intangible assets acquired. Identifiable intangible assets consist of the value of customer relationships, trade names, software and technology, and favorable leases, which are all subject to amortization, and an insurance license which is not subject to amortization. The Company evaluates goodwill and other intangible assets for impairment annually or whenever events or changes in circumstances indicate that it is more likely than not that the carrying amount of goodwill and other intangible assets may exceed their implied fair values. The Company qualitatively determines whether, more likely than not, the fair value exceeds the carrying amount of a reporting unit. There are numerous assumptions and estimates underlying the qualitative assessments including future earnings, long-term strategies, and the Company’s annual planning and forecasting process. If these planned initiatives do not accomplish the targeted objectives, the assumptions and estimates underlying the qualitative assessments could be adversely affected and have a material effect upon the Company’s financial condition and results of operations. In addition, the Company evaluates other intangible assets using methods similar to those used for goodwill described above. As of December 31, 2019 and 2018 , goodwill and other intangible impairment assessments indicated that there was no impairment. Premium Revenue Recognition Premium revenue is recognized on a pro-rata basis over the terms of the policies in proportion to the amount of insurance protection provided. Premium revenue includes installment and other fees for services which are recognized in the periods in which the services are rendered. Unearned premiums represent the portion of the written premium related to the unexpired policy term. Unearned premiums are predominantly computed monthly on a pro-rata basis and are stated gross of reinsurance deductions, with the reinsurance deduction recorded in other assets. The Company evaluates its unearned premiums periodically for premium deficiencies by comparing the sum of expected claim costs, unamortized acquisition costs and maintenance costs, partially offset by investment income, to related unearned premiums. To the extent that any of the Company’s lines of insurance business become unprofitable, a premium deficiency reserve may be required. Net premiums written, a statutory measure designed to determine production levels, were $3.73 billion , $3.50 billion , and $3.22 billion in 2019 , 2018 , and 2017 , respectively. Losses and Loss Adjustment Expenses Unpaid losses and loss adjustment expenses are determined in amounts estimated to cover incurred losses and loss adjustment expenses and established based upon the Company’s assessment of claims pending and the development of prior years’ loss liabilities. These amounts include liabilities based upon individual case estimates for reported losses and loss adjustment expenses and estimates of such amounts that are incurred but not reported. Changes in the estimated liability are charged or credited to operations as the losses and loss adjustment expenses are re-estimated. The liability is stated net of anticipated salvage and subrogation recoveries, and gross of reinsurance recoverables on unpaid losses. Estimating loss reserves is a difficult process as many factors can ultimately affect the final settlement of a claim and, therefore, the loss reserve that is required. A key assumption in estimating loss reserves is the degree to which the historical data used to analyze reserves will be predictive of ultimate claim costs on incurred claims. Changes in the regulatory and legal environments, results of litigation, medical costs, the cost of repair materials, and labor rates, among other factors, can impact this assumption. In addition, time can be a critical part of reserving determinations since the longer the span between the incidence of a loss and the payment or settlement of a claim, the more variable the ultimate settlement amount could be. Accordingly, short-tail claims, such as property damage claims, tend to be more reasonably predictable than long-tail liability claims, such as those involving the Company’s bodily injury ("BI") coverages. Management believes that the liability for losses and loss adjustment expenses is adequate to cover the ultimate net cost of losses and loss adjustment expenses incurred to date. However, since the provisions for loss reserves are necessarily based upon estimates, the ultimate liability may be more or less than such provisions. The Company analyzes loss reserves quarterly primarily using the incurred loss, paid loss, average severity coupled with the claim count development methods, and the generalized linear model ("GLM") described below. When deciding among methods to use, the Company evaluates the credibility of each method based on the maturity of the data available and the claims settlement practices for each particular line of insurance business or coverage within a line of insurance business. The Company may also evaluate qualitative factors such as known changes in laws or legal ruling that could affect claims handling or other external environmental factors or internal factors that could affect the settlement of claims. When establishing the loss reserve, the Company will generally analyze the results from all of the methods used rather than relying on a single method. While these methods are designed to determine the ultimate losses on claims under the Company’s policies, there is inherent uncertainty in all actuarial models since they use historical data to project outcomes. The Company believes that the techniques it uses provide a reasonable basis in estimating loss reserves. • The incurred loss method analyzes historical incurred case loss (case reserves plus paid losses) development to estimate ultimate losses. The Company applies development factors against current case incurred losses by accident period to calculate ultimate expected losses. The Company believes that the incurred loss method provides a reasonable basis for evaluating ultimate losses, particularly in the Company’s larger, more established lines of insurance business which have a long operating history. • The paid loss method analyzes historical payment patterns to estimate the amount of losses yet to be paid. • The average severity method analyzes historical loss payments and/or incurred losses divided by closed claims and/or total claims to calculate an estimated average cost per claim. From this, the expected ultimate average cost per claim can be estimated. The average severity method coupled with the claim count development method provides meaningful information regarding inflation and frequency trends that the Company believes is useful in establishing loss reserves. The claim count development method analyzes historical claim count development to estimate future incurred claim count development for current claims. The Company applies these development factors against current claim counts by accident period to calculate ultimate expected claim counts. • The GLM determines an average severity for each percentile of claims that have been closed as a percentage of estimated ultimate claims. The average severities are applied to open claims to estimate the amount of losses yet to be paid. The GLM utilizes operational time, determined as a percentile of claims closed rather than a finite calendar period, which neutralizes the effect of changes in the timing of claims handling. The Company analyzes catastrophe losses separately from non-catastrophe losses. For catastrophe losses, the Company generally determines claim counts based on claims reported and development expectations from previous catastrophes and applies an average expected loss per claim based on loss reserves established by adjusters and average losses on previous similar catastrophes. For catastrophe losses on individual properties that are expected to be total losses, the Company typically establishes reserves at the policy limits. Derivative Financial Instruments The Company accounts for all derivative instruments, other than those that meet the normal purchases and sales exception, as either an asset or liability, measured at fair value, which is based on information obtained from independent parties. In addition, changes in fair value are recognized in earnings unless specific hedge accounting criteria are met. The Company’s derivative instruments include total return swaps and options sold. See Note 9. Derivative Financial Instruments. Earnings Per Share Basic earnings per share excludes dilution and reflects net income divided by the weighted average shares of common stock outstanding during the periods presented. Diluted earnings per share is based on the weighted average shares of common stock and potential dilutive securities outstanding during the periods presented. At December 31, 2019 and 2018 , potential dilutive securities consisted of outstanding stock options. See Note 17. Earnings Per Share , for the required disclosures relating to the calculation of basic and diluted earnings per share. Income Taxes Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial reporting basis and the respective tax basis of the Company’s assets and liabilities, and expected benefits of utilizing net operating loss, capital loss, and tax-credit carryforwards. The Company assesses the likelihood that its deferred tax assets will be realized and, to the extent management does not believe these assets are more likely than not to be realized, a valuation allowance is established. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates or laws is recognized in earnings in the period that includes the enactment date. At December 31, 2019 , the Company’s deferred income taxes were in a net liability position, which included a combination of ordinary and capital deferred tax benefits and expenses. In assessing the Company's ability to realize deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon generating sufficient taxable income of the appropriate character within the carryback and carryforward periods available under the tax law. Management considers the reversal of deferred tax liabilities, projected future taxable income of an appropriate nature, and tax-planning strategies in making this assessment. The Company believes that through the use of prudent tax planning strategies and the generation of capital gains, sufficient income will be realized in order to maximize the full benefits of its deferred tax assets. Although realization is not assured, management believes that it is more likely than not that the Company’s deferred tax assets will be realized. Reinsurance Liabilities for unearned premiums and unpaid losses are stated in the accompanying consolidated financial statements before deductions for ceded reinsurance. Unpaid losses and unearned premiums that are ceded to reinsurers are carried in reinsurance recoverables and other assets, respectively, in the Company's consolidated balance sheets. Earned premiums are stated net of deductions for ceded reinsurance. The Company is party to a Catastrophe Reinsurance Treaty ("Treaty") covering a wide range of perils that is effective through June 30, 2020 . The Treaty provides $600 million of coverage on a per occurrence basis after covered catastrophe losses exceed the $40 million Company retention limit. The Treaty specifically excludes coverage for any Florida business and for California earthquake losses on fixed property policies, such as homeowners, but does cover losses from fires following an earthquake. In addition, the Treaty provides for one full reinstatement of coverage limits and excludes losses from wildfires on certain coverage layers of the Treaty. The Company recognized ceded premiums earned of approximately $57 million , $49 million , and $27 million in 2019 , 2018 , and 2017 , respectively, which are included in net premiums earned in its consolidated statements of operations, and ceded losses and loss adjustment expenses of approximately $(71) million , $257 million , and $90 million in 2019 , 2018 , and 2017 , respectively, which are included in losses and loss adjustment expenses in its consolidated statements of operations. The negative ceded losses and loss adjustment expenses in 2019 primarily resulted from the re-estimation of the catastrophe loss reserves, including estimated subrogation, on the 2018 Camp and Woolsey Fires and the 2017 Southern California wildfires, which have previously been ceded to reinsurers under the Treaty, in conjunction with the sale of the Company's subrogation rights during the first quarter of 2019. The re-estimation primarily benefited the Company's reinsurers. See Note 12. Loss and Loss Adjustment Expense Reserves for additional information. The Insurance Companies, as primary insurers, are required to pay losses to the extent reinsurers are unable to discharge their obligations under the reinsurance agreements. Share-Based Compensation Share-based compensation expenses for all stock options granted or modified are based on their estimated grant-date fair values. The Company recognizes these compensation costs on a straight-line basis over the requisite service period of the award, which is the option vesting term of four years . The Company estimates forfeitures expected to occur in determining the amount of compensation cost to be recognized in each period. The fair value of stock option awards is estimated using the Black-Scholes option pricing model with the grant-date assumptions and weighted-average fair values. The fair value of each restricted stock unit ("RSU") grant is determined based on the market price on the grant date for awards classified as equity and on each reporting date for awards classified as liability. Compensation cost is recognized based on management’s best estimate of the performance goals that will be achieved at the end of the performance period, taking into account expected forfeitures. If the minimum performance goals are not expected to be met, no compensation cost is recognized and any recognized compensation cost would be reversed. See Note 16. Share-Based Compensation for additional disclosures. Revenue from Contracts with Customers The Company's revenue from contracts with customers that are in scope of Topic 606 represents the commission income that the Company's 100% owned insurance agencies, Auto Insurance Specialists LLC ("AIS") and PoliSeek AIS Insurance Solutions, Inc. ("Poliseek"), earned from third-party insurers. The Company's commission income from third-party insurers was approximately $16.3 million and $16.0 million representing approximately 0.4% and 0.5% of the consolidated total revenue, for the years ended December 31, 2019 and 2018 , respectively, with related expenses of approximately $10.5 million for each of the years ended December 31, 2019 and 2018 . Due to the immateriality of the Company's commission income and its related expenses to the overall consolidated financial statements, the commission income, net of related expenses, is included in other revenues in the Company's consolidated statements of operations, and in other income of the Property and Casualty business segment in the Company's segment reporting in accordance with Topic 280, Segment Reporting (see Note 20. Segment Information). AIS and PoliSeek are primarily engaged in the marketing and sales of insurance policies in private passenger automobile, commercial automobile and homeowners lines of business. Their revenues primarily consist of commission income received from property and casualty insurers. The primary performance obligation of AIS and Poliseek in return for the commission income from the insurers is to complete the sale of the policy and deliver the control of the policy to the insurer prior to the policy effective date. The total revenue from the sale of a policy is recognized when the sale is complete and the policy is effective as all the material aspects of the performance obligation are satisfied and the insurer is deemed to obtain control of the insurance policy at that time. The commission income is constrained such that the revenue is recognized only to the extent that the commission income received is not likely to be returned to the insurers due to policy cancellations. Any commission income not received when the sale is complete is recognized as commission income receivable, which is included in other receivables in the Company's consolidated balance sheets. Commission income receivable at December 31, 2019 and 2018 was approximately $1.2 million . A refund liability is recorded for the expected amount of the commission income that has to be returned to the insurers based on estimated policy cancellations. The refund liability is computed for the entire portfolio of contracts as a practical expedient, using the expected value method based on all relevant information, including historical data. The refund liability at December 31, 2019 and 2018 was approximately $0.7 million , which was included in other liabilities in the Company's consolidated balance sheets. As of December 31, 2019 and 2018 , the Company had no contract assets, contract liabilities, capitalized costs to obtain or fulfill a contract, or remaining performance obligations associated with unrecognized revenues. Recently Issued Accounting Standards In August 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2018-15, " Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40), Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract ." ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software under Subtopic 350-40. This ASU also requires an entity to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement and present such expense in the same line item in the statement of income as the fees associated with the hosting element (service) of the arrangement and classify payments for capitalized implementation costs in the statement of cash flows in the same manner as payments made for fees associated with the hosting element. The entity is also required to present the capitalized implementation costs in the statement of financial position in the same line item that a prepayment for the fees of the associated hosting arrangement would be presented. ASU 2018-15 became effective for the Company on January 1, 2020 and did not have any material impact on its consolidated financial statements and related disclosures. In August 2018, the FASB issued ASU 2018-13, " Fair Value Measurement (Topic 820), Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement ." The amendments in this ASU require certain existing disclosure requirements in Topic 820 to be modified or removed, and certain new disclosure requirements to be added to the Topic. In addition, this ASU allows entities to exercise more discretion when considering fair value measurement disclosures. ASU 2018-13 became effective for the Company on January 1, 2020 and did not have any material impact on its consolidated financial statements and related disclosures. In January 2017, the FASB issued ASU 2017-04, " Intangibles - Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment. " ASU 2017-04 removes the requirement to compare the implied fair value of goodwill with its carrying amount as part of Step 2 of the goodwill impairment test and requires an entity to recognize an impairment charge for the amount by which the carrying amount of a reporting unit exceeds its fair value. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. ASU 2017-04 became effective for the Company on January 1, 2020 and did not have any material impact on its consolidated financial statements and related disclosures. In June 2016, the FASB issued ASU 2016-13, " Financial Instruments - Credit Losses (Topic 326). " The amendments in this ASU replace the "incurred loss" methodology for recognizing credit losses with a methodology that reflects expected credit losses and requires consideration of a broader range of information including past events, current conditions and reasonable and supportabl

Financial Instruments

Financial Instruments	12 Months Ended
	Dec. 31, 2019
Financial Instruments, Owned, at Fair Value [Abstract]
Financial Instruments	Financial Instruments Financial instruments recorded in the consolidated balance sheets include investments, note receivable, other receivables, options sold, total return swaps, accounts payable, and notes payable. Due to their short-term maturity, the carrying values of other receivables and accounts payable approximate their fair values. All investments are carried at fair value in the consolidated balance sheets. The following table presents the fair values of financial instruments: December 31, 2019 2018 (Amounts in thousands) Assets Investments $ 4,312,161 $ 3,768,091 Note receivable 5,665 5,557 Liabilities Total return swaps — 4,851 Options sold 77 3 Unsecured notes 394,279 362,674 Investments The Company applies the fair value option to all fixed maturity and equity securities and short-term investments at the time an eligible item is first recognized. The cost of investments sold is determined on a first-in and first-out method and realized gains and losses are included in net realized investment gains (losses) in the Company's consolidated statements of operations. See Note 3. Investments for additional information. Note Receivable Note receivable was recognized as part of the sale of land in August 2017 (See Note 5. Fixed Assets for additional information on the sale transaction). The Company elected to apply the fair value option to this security at the time it was first recognized. The fair value of note receivable is included in other assets in the Company's consolidated balance sheets, while the changes in fair value of note receivable are included in net realized investment gains (losses) i n the Company's consolidated statements of operations . Options Sold The Company writes covered call options through listed and over-the-counter exchanges. When the Company writes an option, an amount equal to the premium received by the Company is recorded as a liability and is subsequently adjusted to the current fair value of the option written. Premiums received from writing options that expire unexercised are treated by the Company as realized gains from investments on the expiration date. If a call option is exercised, the premium is added to the proceeds from the sale of the underlying security in determining whether the Company has realized a gain or loss. The Company, as writer of an option, bears the market risk of an unfavorable change in the price of the security underlying the written option. Liabilities for covered call options are included in other liabilities in the Company's consolidated balance sheets. Total Return Swaps The fair values of the total return swaps reflect the estimated amounts that, upon termination of the contracts, would be received for selling an asset or paid to transfer a liability in an orderly transaction, based on models using inputs, such as interest rate yield curves and credit spreads, observable for substantially the full term of the contract. Unsecured Notes The fair value of the Company’s publicly traded $375 million unsecured notes at December 31, 2019 and 2018 was obtained from a third party pricing service. For additional disclosures regarding methods and assumptions used in estimating fair values, see Note 4. Fair Value Measurements.

Investments

Investments	12 Months Ended
	Dec. 31, 2019
Investments [Abstract]
Investments	Investments The following table presents gains (losses) due to changes in fair value of investments that are measured at fair value pursuant to application of the fair value option: Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Fixed maturity securities $ 104,379 $ (53,927 ) $ 50,403 Equity securities 90,920 (77,494 ) 37,486 Short-term investments 1,295 (1,237 ) 38 Total gains (losses) $ 196,594 $ (132,658 ) $ 87,927 The following table presents gross gains (losses) realized on the sales of investments: Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Gross Realized Gains Gross Realized Losses Net Gross Realized Gains Gross Realized Losses Net Gross Realized Gains Gross Realized Losses Net Fixed maturity securities $ 2,413 $ (1,066 ) $ 1,347 $ 549 $ (3,563 ) $ (3,014 ) $ 604 $ (2,701 ) $ (2,097 ) Equity securities 47,411 (28,089 ) 19,322 43,420 (45,607 ) (2,187 ) 20,835 (23,048 ) (2,213 ) Short-term investments 177 (2,133 ) (1,956 ) 61 (2,429 ) (2,368 ) 21 (20 ) 1 Contractual Maturity At December 31, 2019 , fixed maturity holdings rated below investment grade and non-rated comprised 1.3% of total investments at fair value. Additionally, the Company owns securities that are credit enhanced by financial guarantors that are subject to uncertainty related to market perception of the guarantors’ ability to perform. Determining the estimated fair value of municipal bonds could become more difficult should markets for these securities become illiquid. The following table presents the estimated fair values of the Company's fixed maturity securities at December 31, 2019 by contractual maturity. 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. Estimated Fair Value (Amounts in thousands) Fixed maturity securities: Due in one year or less $ 105,929 Due after one year through five years 548,638 Due after five years through ten years 287,005 Due after ten years 2,151,703 Total $ 3,093,275 Investment Income The following table presents a summary of net investment income: Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Fixed maturity securities $ 102,254 $ 102,198 $ 102,790 Equity securities 32,233 30,496 18,554 Short-term investments 12,381 8,789 8,753 Total investment income $ 146,868 $ 141,483 $ 130,097 Less: investment expense (5,605 ) (5,645 ) (5,167 ) Net investment income $ 141,263 $ 135,838 $ 124,930

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2019
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fair Value Measurements	Fair Value Measurements The Company employs a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date using the exit price. Accordingly, when market observable data are not readily available, the Company’s own assumptions are set to reflect those that market participants would be presumed to use in pricing the asset or liability at the measurement date. Assets and liabilities recorded at fair value on the consolidated balance sheets are categorized based on the level of judgment associated with inputs used to measure their fair value and the level of market price observability, as follows: Level 1 Unadjusted quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Level 2 Pricing inputs are other than quoted prices in active markets, which are based on the following: a. Quoted prices for similar assets or liabilities in active markets; b. Quoted prices for identical or similar assets or liabilities in non-active markets; or c. Either directly or indirectly observable inputs as of the reporting date. Level 3 Pricing inputs are unobservable and significant to the overall fair value measurement, and the determination of fair value requires significant management judgment or estimation. In certain cases, inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. Thus, a Level 3 fair value measurement may include inputs that are observable (Level 1 or Level 2) and unobservable (Level 3). The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to the asset or liability. The Company uses prices and inputs that are current as of the measurement date, including during periods of market disruption. In periods of market disruption, the ability to observe prices and inputs may be reduced for many instruments. This condition could cause an instrument to be reclassified from Level 1 to Level 2, or from Level 2 to Level 3. The Company recognizes transfers between levels at either the actual date of the event or a change in circumstances that caused the transfer. Summary of Significant Valuation Techniques for Financial Assets and Financial Liabilities The Company’s fair value measurements are based on the market approach, which utilizes market transaction data for the same or similar instruments. The Company obtained unadjusted fair values on 97.9% of its investment portfolio from an independent pricing service. For a private equity fund that was classified as Level 3 and included in equity securities at December 31, 2019 and 2018 , the Company obtained specific unadjusted broker quotes based on net fund value and, to a lesser extent, unobservable inputs from at least one knowledgeable outside security broker to determine the fair value. The fair value of the private equity fund was $1.2 million and $1.4 million at December 31, 2019 and 2018 , respectively. Level 1 measurements —Fair values of financial assets and financial liabilities are obtained from an independent pricing service, and are based on unadjusted quoted prices for identical assets or liabilities in active markets. Additional pricing services and closing exchange values are used as a comparison to ensure that reasonable fair values are used in pricing the investment portfolio. U.S. government bonds/Short-term bonds : Valued using unadjusted quoted market prices for identical assets in active markets. Common stock : Comprised of actively traded, exchange listed U.S. and international equity securities and valued based on unadjusted quoted prices for identical assets in active markets. Money market instruments : Valued based on unadjusted quoted prices for identical assets in active markets. Options sold : Comprised of free-standing exchange listed derivatives that are actively traded and valued based on quoted prices for identical instruments in active markets. Level 2 measurements —Fair values of financial assets and financial liabilities are obtained from an independent pricing service or outside brokers, and are based on prices for similar assets or liabilities in active markets or valuation models whose inputs are observable, directly or indirectly, for substantially the full term of the asset or liability. Additional pricing services are used as a comparison to ensure reliable fair values are used in pricing the investment portfolio. Municipal securities : Valued based on models or matrices using inputs such as quoted prices for identical or similar assets in active markets. Mortgage-backed securities : Comprised of securities that are collateralized by residential and commercial mortgage loans and valued based on models or matrices using multiple observable inputs, such as benchmark yields, reported trades and broker/dealer quotes, for identical or similar assets in active markets. The Company had holdings of $18.9 million and $24.8 million in commercial mortgage-backed securities at December 31, 2019 and 2018 , respectively. Corporate securities/Short-term bonds : Valued based on a multi-dimensional model using multiple observable inputs, such as benchmark yields, reported trades, broker/dealer quotes and issue spreads, for identical or similar assets in active markets. Non-redeemable preferred stock : Valued based on observable inputs, such as underlying and common stock of same issuer and appropriate spread over a comparable U.S. Treasury security, for identical or similar assets in active markets. Total return swaps : Valued based on multi-dimensional models using inputs such as interest rate yield curves, underlying debt/credit instruments and the appropriate benchmark spread for similar assets in active markets, observable for substantially the full term of the contract. Collateralized loan obligations ("CLOs") : Valued based on underlying debt instruments and the appropriate benchmark spread for similar assets in active markets. Other asset-backed securities : Comprised of securities that are collateralized by non-mortgage assets, such as automobile loans, valued based on models or matrices using multiple observable inputs, such as benchmark yields, reported trades and broker/dealer quotes, for identical or similar assets in active markets. Note receivable : Valued based on observable inputs, such as benchmark yields, and considering any premium or discount for the differential between the stated interest rate and market interest rates, based on quoted market prices of similar instruments. Level 3 measurements —Fair values of financial assets are based on inputs that are both unobservable and significant to the overall fair value measurement, including any items in which the evaluated prices obtained elsewhere were deemed to be of a distressed trading level. Private equity fund : Private equity fund that is not measured at net asset value ("NAV") is valued based on underlying investments of the fund or assets similar to such investments in active markets, taking into consideration specific unadjusted broker quotes based on net fund value and unobservable inputs from at least one knowledgeable outside security broker related to liquidity assumptions. Fair value measurement using NAV practical expedient - The fair values of private equity funds measured at net asset value are determined using NAV as advised by the external fund managers and the third party administrators. The NAV of the Company's limited partnership or limited liability company interest in such a fund is based on the manager's and the administrator's valuation of the underlying holdings in accordance with the fund's governing documents and GAAP. In accordance with applicable accounting guidance, private equity funds measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy. The strategy of these funds is to provide current income to investors by investing mainly in secured loans, CLOs or CLO issuers, and equity interests in vehicles established to purchase and warehouse loans. The Company has made all of its capital contributions in such funds and had no outstanding unfunded commitments at December 31, 2019 with respect to the funds. The underlying assets of the funds are expected to be liquidated over the period of approximately one to 10 years from December 31, 2019. In addition, the Company does not have the ability to redeem or withdraw from the funds, or to sell, assign, pledge or transfer its investment, without the consent from the General Partner or Managers of each fund, but will receive distributions based on the liquidation of the underlying assets and the interest proceeds from the underlying assets. The Company’s financial instruments at fair value are reflected in the consolidated balance sheets on a trade-date basis. Related unrealized gains or losses are recognized in net realized investment gains or losses in the consolidated statements of operations. Fair value measurements are not adjusted for transaction costs. The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis, and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair values: December 31, 2019 Level 1 Level 2 Level 3 Total (Amounts in thousands) Assets Fixed maturity securities: U.S. government bonds $ 22,637 $ — $ — $ 22,637 Municipal securities — 2,554,208 — 2,554,208 Mortgage-backed securities — 63,003 — 63,003 Corporate securities — 235,565 — 235,565 Collateralized loan obligations — 199,217 — 199,217 Other asset-backed securities — 18,645 — 18,645 Total fixed maturity securities 22,637 3,070,638 — 3,093,275 Equity securities: Common stock 586,367 — — 586,367 Non-redeemable preferred stock — 49,708 — 49,708 Private equity fund — — 1,203 1,203 Private equity funds measured at net asset value (1) 87,473 Total equity securities 586,367 49,708 1,203 724,751 Short-term investments: Short-term bonds 2,822 30,080 — 32,902 Money market instruments 461,233 — — 461,233 Total short-term investments 464,055 30,080 — 494,135 Other assets: Note receivable — 5,665 — 5,665 Total assets at fair value $ 1,073,059 $ 3,156,091 $ 1,203 $ 4,317,826 Liabilities Other liabilities: Options sold 77 — — 77 Total liabilities at fair value $ 77 $ — $ — $ 77 December 31, 2018 Level 1 Level 2 Level 3 Total (Amounts in thousands) Assets Fixed maturity securities: U.S. government bonds $ 25,003 $ — $ — $ 25,003 Municipal securities — 2,620,132 — 2,620,132 Mortgage-backed securities — 30,952 — 30,952 Corporate securities — 105,524 — 105,524 Collateralized debt obligations — 165,789 — 165,789 Other asset-backed securities — 37,761 — 37,761 Total fixed maturity securities 25,003 2,960,158 — 2,985,161 Equity securities: Common stock 430,973 — — 430,973 Non-redeemable preferred stock — 31,433 — 31,433 Private equity fund — — 1,445 1,445 Private equity fund measured at net asset value (1) 65,780 Total equity securities 430,973 31,433 1,445 529,631 Short-term investments: Short-term bonds 31,472 16,784 — 48,256 Money market instruments 205,043 — — 205,043 Total short-term investments 236,515 16,784 — 253,299 Other assets: Note receivable — 5,557 — 5,557 Total assets at fair value $ 692,491 $ 3,013,932 $ 1,445 $ 3,773,648 Liabilities Other liabilities: Total return swaps $ — $ 4,851 $ — $ 4,851 Options sold 3 — — 3 Total liabilities at fair value $ 3 $ 4,851 $ — $ 4,854 __________ (1) The fair value is measured using the NAV practical expedient; therefore, it is not categorized within the fair value hierarchy. The fair value amount is presented in this table to permit reconciliation of the fair value hierarchy to the amounts presented in the Company's consolidated balance sheets. The following table presents a summary of changes in fair value of Level 3 financial assets: Private Equity Fund Year Ended December 31, 2019 2018 (Amounts in thousands) Beginning balance $ 1,445 $ 1,481 Net realized gains (losses) included in earnings 101 (36 ) Settlements (343 ) — Ending balance $ 1,203 $ 1,445 The amount of total gains (losses) for the period included in earnings attributable to assets still held at December 31 $ 93 $ (36 ) There were no transfers between Levels 1, 2, and 3 of the fair value hierarchy in 2019 and 2018 . At December 31, 2019 and 2018 , the Company did not have any nonrecurring fair value measurements of nonfinancial assets or nonfinancial liabilities. Financial Instruments Disclosed, But Not Carried, at Fair Value The following tables present the carrying value and fair value of the Company’s financial instruments disclosed, but not carried, at fair value, and the level within the fair value hierarchy at which such instruments are categorized: December 31, 2019 Carrying Value Fair Value Level 1 Level 2 Level 3 (Amounts in thousands) Liabilities Notes payable: Unsecured notes $ 372,133 $ 394,279 $ — $ 394,279 $ — December 31, 2018 Carrying Value Fair Value Level 1 Level 2 Level 3 (Amounts in thousands) Liabilities Notes payable: Unsecured notes $ 371,734 $ 362,674 $ — $ 362,674 $ — Unsecured Notes The fair value of the Company’s publicly traded $375 million unsecured notes at December 31, 2019 and 2018

Fixed Assets

Fixed Assets	12 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Fixed Assets	Fixed Assets The following table presents the components of fixed assets: December 31, 2019 2018 (Amounts in thousands) Land $ 18,152 $ 18,144 Buildings and improvements 140,567 138,238 Furniture and equipment 70,355 123,021 Capitalized software 244,425 222,903 Leasehold improvements 7,547 9,986 481,046 512,292 Less: accumulated depreciation and amortization (312,060 ) (359,269 ) Fixed assets, net $ 168,986 $ 153,023 Depreciation expense, including amortization of leasehold improvements, was $23.2 million , $19.9 million , and $21.2 million for 2019 , 2018 , and 2017 , respectively. In August 2017, the Company completed the sale of approximately six acres of land located in Brea, California (the "Property"), for a total sale price of approximately $12.2 million . Approximately $5.7 million of the total sale price was received in the form of a promissory note (the "Note") and the remainder in cash. The Note is secured by a first trust deed and an assignment of rents on the Property, and bears interest at an annual rate of 3.5% , payable in monthly installments. The Note matures in August 2020, and its fair value is included in other assets in the Company's consolidated balance sheets. Only the cash portion of the total sale price of the Property, excluding the Note, is reported in the Company's consolidated statements of cash flows. Interest earned on the Note is recognized in other revenues in the Company's consolidated statements of operations. The Company recognized a gain of approximately $3.3 million on the sale transaction, which is included in other revenues in its consolidated statements of operations.

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs	12 Months Ended
	Dec. 31, 2019
Deferred Policy Acquisition Costs Disclosures [Abstract]
Deferred Policy Acquisition Costs	Deferred Policy Acquisition Costs Deferred policy acquisition costs were as follows: December 31, 2019 2018 2017 (Amounts in thousands) Balance, beginning of year $ 215,131 $ 198,151 $ 200,826 Policy acquisition costs deferred 620,120 589,144 552,675 Amortization (602,085 ) (572,164 ) (555,350 ) Balance, end of year $ 233,166 $ 215,131 $ 198,151

Leases

Leases	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Leases	Leases The Company adopted ASU 2016-02, "Leases (Topic 842)," which supersedes the guidance in Accounting Standards Codification ("ASC") 840, "Leases," on January 1, 2019, using a modified retrospective transition, with the cumulative-effect adjustment to the opening balance of retained earnings as of the effective date (the "effective date method"). Under the effective date method, financial results reported in periods prior to 2019 are unchanged. In addition, the Company elected the package of practical expedients permitted under the transition guidance within the new standard, which allowed the Company not to reassess (a) whether arrangements contain leases, (b) lease classification and (c) initial direct costs. Adoption of the new standard resulted in the recognition of operating lease right-of-use ("ROU") assets and operating lease liabilities of approximately $41 million and $43 million , respectively, at the adoption date for the Company's operating leases. The difference of approximately $2 million between the operating lease ROU assets and operating lease liabilities represents reclassification of deferred rent liability (the difference between the straight-line rent expenses and paid rent amounts under the leases) to operating lease ROU assets from other liabilities at the adoption date. The Company did not have any cumulative-effect adjustment as a result of the adoption. The Company has operating leases for office space for insurance operations and administrative functions, automobiles for certain employees and general uses, and office equipment such as printers and computers. As of December 31, 2019 , the Company's leases had remaining terms ranging from less than 1 year to approximately 8 years . These leases may contain provisions for periodic adjustments to rates and charges applicable under such lease agreements. These rates and charges also may vary with the Company's level of use. Certain of these leases include one or more options to renew or early terminate, and the exercise of these options is at the Company's sole discretion. Certain leases also include options to purchase the leased property. The Company's lease agreements do not contain any residual value guarantees. The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease ROU assets and operating lease liabilities in the Company's consolidated balance sheets. ROU assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The Company uses its estimated incremental borrowing rate for office space and office equipment leases, which is derived from information available at the lease commencement date, in determining the present value of lease payments, as the rate implicit in the lease is not readily available for such leases. The Company gives consideration to its recent debt issuances as well as publicly available data for instruments with similar characteristics when calculating its incremental borrowing rates. For automobile leases, the Company uses the rate implicit in the lease at the lease commencement date in determining the present value of lease payments, as the readily-determinable implicit rate is provided in such leases. The Company's lease terms include options to extend or terminate the lease when it is reasonably certain that it will exercise that option. The Company does not use the short-term lease exemption practical expedient and records all leases on the balance sheets, including leases with a term of twelve months or less. The Company accounts for the lease and non-lease components as a single lease component for all of its leases. Lease expense for scheduled lease payments is recognized on a straight-line basis over the lease term. The components of lease expense were as follows: Year Ended Lease Cost Classification December 31, 2019 (Amounts in thousands) Operating lease cost (1) Other operating expenses $ 15,146 Variable lease cost (1) Other operating expenses 2,196 Total lease cost $ 17,342 __________ (1) Includes short-term leases, which are immaterial. Supplemental balance sheet information related to leases was as follows: December 31, 2019 (Amounts in thousands) Operating lease ROU assets $ 44,909 Operating lease liabilities 47,996 Weighted-average lease term and discount rate were as follows: December 31, 2019 Weighted-average remaining lease term (in years): Operating leases 4.4 Weighted-average discount rate: Operating leases 3.02 % Supplemental cash flow and other information related to leases was as follows: Year Ended December 31, 2019 (Amounts in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 14,289 ROU assets obtained in exchange for lease liabilities: Operating leases 15,372 Maturities of lease liabilities as of December 31, 2019 were as follows: Year Operating Leases (Amounts in thousands) 2020 14,458 2021 12,259 2022 9,910 2023 6,439 2024 3,533 2025 and thereafter $ 4,744 Total lease payments $ 51,343 Less: Imputed interest 3,347 Total lease obligations $ 47,996 As of December 31, 2019 , the Company had additional operating lease commitments that have not yet commenced of approximately $2 million with each lease term ranging from approximately 1 year to 3 years . These operating leases will commence in 2020. Disclosures related to periods prior to adoption of ASC Topic 842 Total rent expense recognized under the Company's various lease agreements was $14.9 million and $ 14.8 million for 2018 and 2017 , respectively. The following table presents future minimum commitments for operating leases as of December 31, 2018 : Year Ending December 31, Operating Leases (Amounts in thousands) 2019 $ 12,812 2020 11,547 2021 8,732 2022 6,972 2023 3,659 Thereafter 1,966

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2019
Notes Payable [Abstract]
Notes Payable	Notes Payable The following table presents information about the Company's notes payable: December 31, Lender Interest Rate Expiration 2019 2018 (Amounts in thousands) Senior unsecured notes (1) Publicly traded 4.40% March 15, 2027 $ 375,000 $ 375,000 Unsecured credit facility (2) Bank of America and Wells Fargo Bank LIBOR plus 112.5-162.5 basis points March 29, 2022 — — Total principal amount 375,000 375,000 Less unamortized discount and debt issuance costs (3) 2,867 3,266 Total $ 372,133 $ 371,734 __________ (1) On March 8, 2017, the Company completed a public debt offering issuing $375 million of senior notes. The notes are unsecured senior obligations of the Company, with a 4.4% annual coupon payable on March 15 and September 15 of each year commencing September 15, 2017. These notes mature on March 15, 2027. The Company used the proceeds from the notes to pay off the total outstanding balance of $320 million under the existing loan and credit facility agreements and terminated the agreements on March 8, 2017. The remainder of the proceeds from the notes was used for general corporate purposes. The Company incurred debt issuance costs of approximately $3.4 million , inclusive of underwriters' fees. The notes were issued at a slight discount of 99.847% of par, resulting in the effective annualized interest rate, including debt issuance costs, of approximately 4.45% . (2) On March 29, 2017, the Company entered into an unsecured credit agreement that provides for revolving loans of up to $50 million and matures on March 29, 2022. The interest rates on borrowings under the credit facility are based on the Company's debt to total capital ratio and range from LIBOR plus 112.5 basis points when the ratio is under 15% to LIBOR plus 162.5 basis points when the ratio is greater than or equal to 25%. Commitment fees for the undrawn portions of the credit facility range from 12.5 basis points when the ratio is under 15% to 22.5 basis points when the ratio is greater than or equal to 25%. The debt to total capital ratio is expressed as a percentage of (a) consolidated debt to (b) consolidated shareholders' equity plus consolidated debt. The Company's debt to total capital ratio was 17.2% at December 31, 2019 , resulting in a 15 basis point commitment fee on the $50 million undrawn portion of the credit facility. As of February 6, 2020 , there have been no borrowings under this facility. (3) The unamortized discount and debt issuance costs are associated with the publicly traded $375 million senior unsecured notes. These are amortized to interest expense over the life of the notes, and the unamortized balance is presented in the Company's consolidated balance sheets as a direct deduction from the carrying amount of the debt. The unamortized debt issuance costs of approximately $0.1 million associated with the $50 million five -year unsecured revolving credit facility maturing on March 29, 2022 are included in other assets in the Company's consolidated balance sheets and amortized to interest expense over the term of the credit facility. The Company was in compliance with all of its financial covenants pertaining to minimum statutory surplus, debt to total capital ratio, and risk based capital ("RBC") ratio under the unsecured credit facility at December 31, 2019 . Debt maturities for each of the next five years and thereafter as of December 31, 2019 are as follows: Maturity Amounts (in thousands) 2020 $ — 2021 — 2022 — 2023 — 2024 — Thereafter 375,000 Total $ 375,000

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2019
General Discussion of Derivative Instruments and Hedging Activities [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments The Company is exposed to certain risks relating to its ongoing business operations. The primary risks managed by using derivative instruments are equity price risk and interest rate risk. Equity contracts (options sold) on various equity securities are intended to manage the price risk associated with forecasted purchases or sales of such securities. The Company also enters into derivative contracts to enhance returns on its investment portfolio. On February 13, 2014, Fannette Funding LLC ("FFL"), a special purpose investment vehicle, formed by and consolidated into the Company, entered into a total return swap agreement with Citibank. The agreement had an initial term of one year, subject to periodic renewal. In July 2018, the agreement was renewed through January 24, 2020. During the fourth quarter of 2019, the underlying obligations were liquidated and the total return swap agreement between FFL and Citibank was terminated. Under the agreement, FFL received the income equivalent on underlying obligations due to Citibank and paid to Citibank interest on the outstanding notional amount of the underlying obligations. The total return swap was secured by approximately $31 million of U.S. Treasuries as collateral, which were included in short-term investments on the consolidated balance sheets. The Company paid interest equal to LIBOR plus 128 basis points prior to the renewal of the agreement in January 2018, LIBOR plus 120 basis points subsequent to the January 2018 renewal through July 2018, and LIBOR plus105 basis points subsequent to the July 2018 renewal until December 2019, on approximately $100 million of underlying obligations as of December 31, 2018 . On August 9, 2013, Animas Funding LLC ("AFL"), a special purpose investment vehicle, formed and consolidated by the Company, entered into a three-year total return swap agreement with Citibank, which was renewed through February 17, 2018. During June and July 2017, the underlying obligations were liquidated and the total return swap agreement between AFL and Citibank was terminated on. Under the agreement, AFL received the income equivalent on underlying obligations due to Citibank and paid to Citibank interest on the outstanding notional amount of the underlying obligations. The total return swap was secured by approximately $40 million of U.S. Treasuries as collateral, which were included in short-term investments on the consolidated balance sheets. The Company paid interest equal to LIBOR plus 135 basis points prior to the amendment of the agreement in January 2017 and LIBOR plus 128 basis points subsequent to the amendment until July 2017, on approximately $152 million of underlying obligations as of December 31, 2016. The following tables present the location and amounts of derivative fair values in the consolidated balance sheets and derivative gains or losses in the consolidated statements of operations: Liability Derivatives December 31, 2019 December 31, 2018 (Amounts in thousands) Options sold - Other liabilities $ 77 $ 3 Total return swaps - Other liabilities — 4,851 Total derivatives $ 77 $ 4,854 Gains (Losses) Recognized in Income Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Total return swaps - Net realized investment gains (losses) $ 1,039 $ (3,783 ) $ (2,137 ) Options sold - Net realized investment gains (losses) 6,339 10,498 2,291 Total $ 7,378 $ 6,715 $ 154 Most options sold consist of covered calls. The Company writes covered calls on underlying equity positions held as an enhanced income strategy that is permitted for the Company’s insurance subsidiaries under statutory regulations. The Company manages the risk associated with covered calls through strict capital limitations and asset diversification throughout various industries. For additional disclosures regarding equity contracts, see Note 4. Fair Value Measurements for additional disclosures regarding options sold.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill There were no changes in the carrying amount of goodwill during 2019 and 2018 . Goodwill is reviewed annually for impairment and more frequently if potential impairment indicators exist. No impairment indicators were identified during 2019 and 2018 . All of the Company's goodwill is associated with the Property and Casualty business segment (See Note 20. Segment Information for additional information on the reportable business segment). Other Intangible Assets The following table presents the components of other intangible assets: Gross Carrying Amount Accumulated Amortization Net Carrying Amount Useful Lives (Amounts in thousands) (in years) As of December 31, 2019 Customer relationships $ 53,213 $ (52,319 ) $ 894 11 Trade names 15,400 (7,058 ) 8,342 24 Technology 4,300 (4,300 ) — 10 Insurance license 1,400 — 1,400 Indefinite Total intangible assets, net $ 74,313 $ (63,677 ) $ 10,636 As of December 31, 2018 Customer relationships $ 53,048 $ (47,897 ) $ 5,151 11 Trade names 15,400 (6,417 ) 8,983 24 Technology 4,300 (4,300 ) — 10 Insurance license 1,400 — 1,400 Indefinite Total intangible assets, net $ 74,148 $ (58,614 ) $ 15,534 Other intangible assets are reviewed annually for impairment and more frequently if potential impairment indicators exist. No impairment indicators were identified during 2019 and 2018 . Other intangible assets with definite useful lives are amortized on a straight-line basis over their useful lives. Other intangible assets amortization expense was $5.1 million , $5.5 million , and $5.4 million for the years ended December 31, 2019 , 2018 , and 2017 , respectively. None of the intangible assets with definite useful lives are anticipated to have a residual value. The following table presents the estimated future amortization expense related to other intangible assets as of December 31, 2019 : Year Ending December 31, Amortization Expense (Amounts in thousands) 2020 $ 922 2021 902 2022 878 2023 714 2024 686 Thereafter 5,134 Total $ 9,236

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2019
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]
Income Taxes	Income Taxes Income tax provision The Company and its subsidiaries file a consolidated federal income tax return. The income tax expense (benefit) consisted of the following components: Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Federal Current $ 18,109 $ 14,190 $ 10,898 Deferred 40,413 (39,244 ) 10,934 $ 58,522 $ (25,054 ) $ 21,832 State Current $ (1,430 ) $ 1,982 $ 955 Deferred 890 (1,815 ) (579 ) $ (540 ) $ 167 $ 376 Total Current $ 16,679 $ 16,172 $ 11,853 Deferred 41,303 (41,059 ) 10,355 Total $ 57,982 $ (24,887 ) $ 22,208 As a result of the Tax Cuts and Jobs Act of 2017 (the "Act"), the Company’s deferred tax assets and liabilities were measured using the new corporate tax rate of 21% at December 31, 2019 , 2018 and 2017. For the years ended December 31, 2019 and 2018, the Company measured its current income taxes using the new corporate tax rate of 21%, rather than the pre-enactment corporate tax rate of 35%. Additionally in 2018, as a result of a determination made by the Office of Management and Budget, the Company reversed the previously recorded provisional 6.6% sequestration reduction to its alternative minimum tax (“AMT”) credit that originally resulted from repeal of the corporate AMT and reclassification of AMT credit carryforwards to current taxes receivable as a refundable credit. In computing taxable income, property and casualty insurers reduce underwriting income by losses and loss adjustment expenses incurred. The amount of the deduction for losses incurred associated with unpaid losses is discounted at the interest rates and for the loss payment patterns prescribed by the U.S. Treasury. The Act changes the prescribed interest rates to rates based on corporate bond yield curves and extends the applicable time periods for the loss payment pattern. These changes are effective for tax years beginning after 2017 and are subject to a transition rule that spreads the additional tax payments from the amount determined by applying these changes versus the previous calculated amount over the subsequent eight years beginning in 2018. The Company recorded a total deferred tax liability adjustment of approximately $8.6 million at December 31, 2018 related to the changes in discounting of unpaid losses included in the Act based on the guidance published in 2018 by the Internal Revenue Service. As of December 31, 2019, the balance of the deferred tax liability related to changes in discounting of unpaid losses was $6.7 million . The following table presents a reconciliation of the tax expense (benefit) based on the statutory rate to the Company's actual tax expense (benefit) in the consolidated statements of operations: Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Computed tax expense (benefit) at 21% for 2019 and 2018 and 35% for 2017 $ 79,394 $ (6,429 ) $ 58,480 Tax-exempt interest income (12,909 ) (13,507 ) (26,038 ) Dividends received deduction (1,276 ) (1,082 ) (2,296 ) State tax (benefit) expense (869 ) 439 158 Nondeductible expenses 526 390 348 Change in federal tax contingency reserve (2,588 ) — — Cumulative impact from change in federal tax rate — — (11,449 ) (Reversal in 2018) reduction of AMT credit carryforward due to sequestration in 2017 — (4,088 ) 4,088 Other, net (4,296 ) (610 ) (1,083 ) Income tax expense (benefit) $ 57,982 $ (24,887 ) $ 22,208 Deferred Income Taxes Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial reporting basis and the respective tax basis of the Company’s assets and liabilities, and expected benefits of utilizing net operating loss, capital loss, and tax-credit carryforwards. The ultimate realization of deferred tax assets is dependent upon generating sufficient taxable income of the appropriate character within the carryback and carryforward periods available under the tax law. Management considers the reversal of deferred tax liabilities, projected future taxable income of an appropriate nature, and tax-planning strategies in making this assessment. The Company believes that through the use of prudent tax planning strategies and the generation of capital gains, sufficient income will be realized in order to maximize the full benefits of its deferred tax assets. The following table presents the significant components of the Company’s net deferred tax assets and liabilities: December 31, 2019 2018 (Amounts in thousands) Deferred tax assets: 20% of net unearned premiums $ 58,448 $ 52,644 Discounting of loss reserves and salvage and subrogation recoverable for tax purposes 12,769 9,245 Write-down of impaired investments 314 356 Expense accruals 8,099 7,019 Tax asset on net unrealized loss on securities carried at fair value — 1,055 Other deferred tax assets 3,348 3,257 Total gross deferred tax assets 82,978 73,576 Deferred tax liabilities: Deferred policy acquisition costs (48,964 ) (45,178 ) Tax liability on net unrealized gain on securities carried at fair value (41,273 ) — Tax depreciation in excess of book depreciation (8,105 ) (4,594 ) Undistributed earnings of insurance subsidiaries (2,855 ) (3,017 ) Tax amortization in excess of book amortization (3,264 ) (2,729 ) Other deferred tax liabilities (6,481 ) (4,719 ) Total gross deferred tax liabilities (110,942 ) (60,237 ) Net deferred tax (liabilities) assets $ (27,964 ) $ 13,339 Uncertainty in Income Taxes The Company recognizes tax benefits related to positions taken, or expected to be taken, on its tax returns, only if the positions are "more-likely-than-not" sustainable. Once this threshold has been met, the Company’s measurement of its expected tax benefits is recognized in its financial statements. There was a $4.6 million decrease to the total amount of unrecognized tax benefits related to tax uncertainties during 2019 . The decrease was the result of tax positions taken regarding research and development federal tax credits and state tax apportionment issues based on management’s judgment and latest information available. The Company does not expect any changes in unrecognized tax benefits to have a material impact on its consolidated financial statements within the next 12 months . The Company and its subsidiaries file income tax returns with the Internal Revenue Service and the taxing authorities of various states. Tax years that remain subject to examination by major taxing jurisdictions are 2016 through 2018 for federal taxes and 2011 through 2018 for California state taxes. For tax years 2003 through 2010, the Company achieved a resolution with the California Franchise Tax Board (“FTB”) in December 2017 and paid a $4.6 million negotiated settlement amount in accordance with the settlement agreement provided by the FTB and signed by the Company. The settlement agreement was approved by the California attorney general in 2018. The Company believes that resolution of tax years 2003 through 2010 has the potential to establish guidance for future audit assessments proposed by the FTB for future tax years. The Company is currently under examination by the FTB for tax years 2011 through 2016. For tax years 2011 through 2013, the FTB issued Notices of Proposed Assessments ("NPAs") to the Company, for which the Company submitted a formal protest in 2018. If a reasonable settlement is not reached, the Company intends to pursue other options, including a formal hearing with the FTB, an appeal with the California Office of Tax Appeals, or litigation in Superior Court. For tax years 2014 through 2016, the Company received Audit Issue Presentation Sheets (“AIPS”) related to the Company’s California apportionment factor. The Company accepted the proposed adjustments in December 2019. The Company believes that the resolution of these examinations and assessments will not have a material impact on the consolidated financial statements. The following table presents a reconciliation of the beginning and ending balances of unrecognized tax benefits: December 31, 2019 2018 (Amounts in thousands) Balance at January 1 $ 10,615 $ 9,674 Additions (reductions) based on tax positions related to: Current year — 662 Prior years (4,564 ) 279 Balance at December 31 $ 6,051 $ 10,615 If unrecognized tax benefits were recognized, $7.2 million and $11.5 million , including accrued interest, penalties and federal tax benefit related to unrecognized tax benefits, would impact the Company’s effective tax rate at December 31, 2019 and 2018 , respectively. The Company recognizes interest and penalties related to unrecognized tax benefits as a part of income taxes. The Company recognized an accrued net expense (benefit) related to interest and penalty of approximately $(0.1) million , $0.5 million , and $(1.1) million for the years ended December 31, 2019 , 2018 and 2017 , respectively. The net benefit for the years ended 2019 and 2017 is largely due to reversal of accrued interest and penalty following the recent updates from the FTB for tax years 2014 through 2016, and the settlement with the FTB for tax years 2003 through 2010, respectively. The Company carried an accrued interest and penalty balance of approximately $2.8 million and $2.9 million at December 31, 2019 and 2018 , respectively.

Loss And Loss Adjustment Expens

Loss And Loss Adjustment Expense Reserves	12 Months Ended
	Dec. 31, 2019
Insurance Loss Reserves [Abstract]
Loss And Loss Adjustment Expense Reserves	Loss and Loss Adjustment Expense Reserves The following table presents the activity in loss and loss adjustment expense reserves: Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Gross reserves at January 1 $ 1,829,412 $ 1,510,613 $ 1,290,248 Less reinsurance recoverables on unpaid losses (180,859 ) (64,001 ) (13,161 ) Net reserves at January 1 1,648,553 1,446,612 1,277,087 Incurred losses and loss adjustment expenses related to: Current year 2,696,230 2,483,693 2,390,453 Prior years 9,794 93,096 54,431 Total incurred losses and loss adjustment expenses 2,706,024 2,576,789 2,444,884 Loss and loss adjustment expense payments related to: Current year 1,651,550 1,543,828 1,550,789 Prior years 857,872 831,020 724,570 Total payments 2,509,422 2,374,848 2,275,359 Net reserves at December 31 1,845,155 1,648,553 1,446,612 Reinsurance recoverables on unpaid losses 76,100 180,859 64,001 Gross reserves at December 31 $ 1,921,255 $ 1,829,412 $ 1,510,613 The increase in the provision for insured events of prior years in 2019 of approximately $9.8 million primarily resulted from higher than estimated defense and cost containment expenses in the California automobile line of insurance business, partially offset by favorable development on prior years’ loss and loss adjustment expense reserves, including catastrophe losses, in certain of the Company's other lines of insurance business. The increase in the provision for insured events of prior years in 2018 of approximately $93.1 million primarily resulted from higher than estimated California automobile losses resulting from severity in excess of expectations for bodily injury claims as well as higher than estimated defense and cost containment expenses in the California automobile line of insurance business. The increase in the provision for insured events of prior years in 2017 of approximately $54.4 million primarily resulted from higher than estimated losses in California automobile and property lines, which experienced higher loss severity on liability coverages including bodily injury and property damage and higher loss adjustment expenses than previously estimated. The Company recorded catastrophe losses net of reinsurance of approximately $53 million , $67 million , and $79 million in 2019 , 2018 , and 2017 , respectively. Catastrophe losses due to the catastrophe events that occurred in 2019 totaled approximately $57 million , w ith no reinsurance benefits used for these losses, resulting primarily from wildfires and winter storms in California, a hurricane in Texas, and tornadoes and wind and hail storms in the Midwest. These losses were partially offset by favorable development of approximately $4 million on prior years' catastrophe losses, primarily from reductions in the Company's retained portion of losses on the Camp and Woolsey Fires, as described further below. Catastrophe losses before reinsurance benefits totaled approximately $289 million in 2018 , primarily resulting from wildfires in Northern and Southern California and weather-related catastrophes across several states. Catastrophe losses before reinsurance benefits totaled approximately $168 million in 2017 , resulting primarily from wildfires in Northern and Southern California, severe rainstorms in California, and the impact of hurricanes in Texas, Florida and Georgia. During the first quarter of 2019, the Company completed the sale of its subrogation rights related to the 2018 Camp and Woolsey Fires and the 2017 Thomas Fire (which was a component of the "2017 Southern California fires") to a third party. The Company’s reinsurers were the primary beneficiaries of this transaction, as they had absorbed most of the losses under the terms of the Treaty. The Company re-estimated its gross and net losses from the 2018 Camp and Woolsey Fires and the 2017 Southern California fires in conjunction with this sale, and its total gross losses from these catastrophes, after accounting for the assignment of subrogation rights and adjustments made to claims reserves as part of normal reserving procedures, were approximately $208 million , and its total net losses, after reinsurance benefits, were approximately $40 million at March 31, 2019 . The Company benefited by approximately $10 million , before taxes, in the first quarter of 2019 from the sale of the subrogation rights, including adjustments made to the associated claims as a result of normal reserving procedures, reductions in the Company's retained portion of losses on the Camp and Woolsey Fires, and reduced reinstatement premiums recognized. 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 two major product lines: automobile and homeowners lines of business. As the information presented is for these two major product lines only, the total incurred and paid claims development shown below does not correspond to the aggregate development presented in the table above, which is for all product lines and includes unallocated claims adjustment expenses. The cumulative number of reported claims represents open claims, claims closed with payment, and claims closed without payment. It does not include an estimated amount for unreported claims. The number of claims is measured by claim event (such as a car accident or storm damage) and an individual claim event may result in more than one reported claim. The Company considers a claim that does not result in a liability as a claim closed without payment. The information about incurred and paid claims development for the years ended December 31, 2010 to 2018 is presented as unaudited supplementary information. Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance (Automobile Insurance) As of December 31, 2019 Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims Cumulative Number of Reported Claims Accident Year For the Years Ended December 31, 2010 (1) 2011 (1) 2012 (1) 2013 (1) 2014 (1) 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (Amounts in thousands) (Amounts in thousands) 2010 $ 1,367,547 $ 1,357,750 $ 1,364,307 $ 1,374,638 $ 1,379,336 $ 1,381,056 $ 1,386,105 $ 1,388,077 $ 1,388,055 $ 1,388,086 $ 43 184 2011 1,343,919 1,367,000 1,380,557 1,388,363 1,393,878 1,398,518 1,405,112 1,401,178 1,401,151 73 181 2012 1,424,754 1,408,222 1,409,104 1,414,878 1,426,735 1,436,034 1,438,250 1,439,660 493 181 2013 1,448,567 1,431,058 1,447,881 1,458,421 1,464,071 1,468,294 1,468,237 1,149 185 2014 1,467,175 1,454,366 1,473,545 1,486,322 1,498,504 1,501,075 3,469 180 2015 1,551,105 1,588,443 1,610,839 1,634,435 1,645,950 9,132 170 2016 1,672,853 1,669,642 1,713,696 1,731,997 22,097 154 2017 1,703,857 1,727,277 1,741,825 58,648 149 2018 1,781,817 1,773,502 139,022 146 2019 1,916,269 438,858 140 Total $ 16,007,752 __________ (1) The information for the years 2010 to 2018 is presented as unaudited supplemental information. Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance (Automobile Insurance) For the Years Ended December 31, Accident Year 2010 (1) 2011 (1) 2012 (1) 2013 (1) 2014 (1) 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (Amounts in thousands) 2010 $ 908,954 $ 1,143,984 $ 1,268,142 $ 1,335,871 $ 1,365,464 $ 1,375,799 $ 1,384,333 $ 1,387,835 $ 1,388,140 $ 1,388,322 2011 926,983 1,152,459 1,277,808 1,347,082 1,378,920 1,391,101 1,394,684 1,400,441 1,400,958 2012 955,647 1,194,648 1,304,511 1,372,828 1,409,911 1,422,705 1,434,956 1,438,686 2013 974,445 1,217,906 1,340,724 1,413,999 1,447,004 1,460,352 1,464,277 2014 967,481 1,231,413 1,358,472 1,432,472 1,476,944 1,490,366 2015 1,040,253 1,336,223 1,466,368 1,560,480 1,614,188 2016 1,094,006 1,395,199 1,554,217 1,656,192 2017 1,076,079 1,399,202 1,561,850 2018 1,082,127 1,417,637 2019 1,134,859 Total $ 14,567,335 All outstanding liabilities before 2010, net of reinsurance (557 ) Loss and allocated loss adjustment expense reserves, net of reinsurance $ 1,439,861 __________ (1) The information for the years 2010 to 2018 is presented as unaudited supplemental information. Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance (Homeowners' Insurance) As of December 31, 2019 Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims Cumulative Number of Reported Claims Accident Year For the Years Ended December 31, 2010 (1) 2011 (1) 2012 (1) 2013 (1) 2014 (1) 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (Amounts in thousands) (Amounts in thousands) 2010 $ 165,727 $ 157,566 $ 160,983 $ 160,472 $ 160,206 $ 160,015 $ 159,608 $ 159,662 $ 159,720 $ 159,652 $ 1 21 2011 167,414 170,623 170,052 169,600 169,390 169,621 170,126 170,334 170,174 75 23 2012 196,063 188,010 190,376 191,548 192,057 191,804 192,905 192,790 6 25 2013 191,903 188,915 188,026 186,795 187,165 188,014 187,147 42 23 2014 199,298 202,621 203,218 202,513 204,986 208,003 3,259 25 2015 234,800 234,881 233,501 236,855 238,652 1,978 24 2016 250,691 259,489 259,497 259,708 2,092 24 2017 309,491 295,163 288,322 4,310 30 2018 311,798 308,361 15,686 25 2019 359,643 64,136 28 Total $ 2,372,452 __________ (1) The information for the years 2010 to 2018 is presented as unaudited supplemental information. Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance (Homeowners' Insurance) For the Years Ended December 31, Accident Year 2010 (1) 2011 (1) 2012 (1) 2013 (1) 2014 (1) 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (Amounts in thousands) 2010 $ 95,057 $ 137,628 $ 149,084 $ 155,191 $ 156,853 $ 158,053 $ 158,943 $ 159,268 $ 159,435 $ 159,491 2011 111,909 153,845 162,870 166,375 167,806 168,621 168,914 169,757 169,899 2012 128,618 175,029 182,756 188,121 190,373 190,649 191,660 192,362 2013 133,528 174,295 180,858 183,860 185,168 186,132 186,494 2014 139,615 186,996 194,605 198,758 202,193 203,333 2015 163,196 213,994 224,178 230,480 234,683 2016 173,537 234,215 245,878 253,919 2017 217,900 269,254 278,341 2018 213,038 271,534 2019 240,240 Total $ 2,190,296 All outstanding liabilities before 2010, net of reinsurance 576 Loss and allocated loss adjustment expense reserves, net of reinsurance $ 182,731 __________ (1) The information for the years 2010 to 2018 is presented as unaudited supplemental information. 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 Years 1 2 3 4 5 6 7 8 9 10 Automobile insurance 63.6 % 17.4 % 8.6 % 5.2 % 2.6 % 0.9 % 0.5 % 0.3 % 0.9 % — % Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance Years 1 2 3 4 5 6 7 8 9 10 Homeowners insurance 67.6 % 22.4 % 4.4 % 2.6 % 1.2 % 0.5 % 0.4 % 0.4 % 0.5 % — % 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 Loss and Loss Adjustment Expense Reserves December 31, 2019 (Amounts in thousands) Net outstanding liabilities Automobile insurance $ 1,439,861 Homeowners' insurance 182,731 WAIC automobile insurance 16,576 Other short-duration insurance lines 106,002 Loss and loss adjustment expense reserves, net of reinsurance recoverables on unpaid losses 1,745,170 Reinsurance recoverables on unpaid losses Automobile insurance 22,060 Homeowners' insurance 52,317 Other short-duration insurance lines 1,723 Total reinsurance recoverables on unpaid losses 76,100 Insurance lines other than short-duration 629 Unallocated claims adjustment expenses 99,356 99,985 Total gross loss and loss adjustment expense reserves $ 1,921,255

Dividends

Dividends	12 Months Ended
	Dec. 31, 2019
Dividends [Abstract]
Dividends	Dividends The following table presents shareholder dividends paid: Year Ended December 31, 2019 2018 2017 (Amounts in thousands, except per share data) Total paid $ 139,071 $ 138,478 $ 137,886 Per share paid $ 2.5125 $ 2.5025 $ 2.4925 The Insurance Companies are subject to the financial capacity guidelines established by their domiciliary states. The payment of dividends from statutory unassigned surplus of the Insurance Companies is restricted, subject to certain statutory limitations. As of December 31, 2019 , the insurance subsidiaries of the Company are permitted to pay approximately $151 million in dividends in 2020 to Mercury General without the prior approval of the DOI of domiciliary states. The above statutory regulations may have the effect of indirectly limiting the ability of the Company to pay shareholder dividends. During 2019 , 2018 , and 2017 , the Insurance Companies paid Mercury General ordinary dividends of $114 million , $135 million , and $109 million , respectively. On February 7, 2020 , the Board of Directors declared a $0.6300 quarterly dividend payable on March 31, 2020 to shareholders of record on March 17, 2020 .

Statutory Balances and Accounti

Statutory Balances and Accounting Practices	12 Months Ended
	Dec. 31, 2019
Statutory Balances And Accounting Practices [Abstract]
Statutory Balances and Accounting Practices	Statutory Balances and Accounting Practices The Insurance Companies prepare their statutory-basis financial statements in conformity with accounting practices prescribed or permitted by the insurance departments of their domiciliary states. Prescribed statutory accounting practices primarily include those published as statements of statutory accounting principles by the National Association of Insurance Commissioners (the "NAIC"), as well as state laws, regulations, and general administrative rules. Permitted statutory accounting practices encompass all accounting practices not so prescribed. As of December 31, 2019 , there were no material permitted statutory accounting practices utilized by the Insurance Companies. The following table presents the statutory net income, and statutory capital and surplus of the Insurance Companies, as reported to regulatory authorities: Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Statutory net income (1) $ 135,670 $ 81,935 $ 117,376 Statutory capital and surplus $ 1,539,998 $ 1,471,547 $ 1,589,226 __________ (1) Statutory net income reflects differences from GAAP net income, including changes in the fair value of the investment portfolio as a result of the application of the fair value option. The Insurance Companies must comply with minimum capital requirements under applicable state laws and regulations. The RBC formula is used by insurance regulators to monitor capital and surplus levels. It was designed to capture the widely varying elements of risks undertaken by writers of different lines of insurance business having differing risk characteristics, as well as writers of similar lines where differences in risk may be related to corporate structure, investment policies, reinsurance arrangements, and a number of other factors. The Company periodically monitors the RBC level of each of the Insurance Companies. As of December 31, 2019, 2018 and 2017, each of the Insurance Companies exceeded the minimum required RBC level , as determined by the NAIC and adopted by the state insurance regulators. None of the Insurance Companies’ RBC ratios were less than 400% of the authorized control level RBC as of December 31, 2019 , 2018 and 2017 . Generally, an RBC ratio of 200%

Profit Sharing Plan and Annual

Profit Sharing Plan and Annual Cash Bonuses	12 Months Ended
	Dec. 31, 2019
Deferred Compensation Arrangements [Abstract]
Profit Sharing Plan and Annual Cash Bonuses	Profit Sharing Plan and Annual Cash Bonuses The Company’s employees are eligible to become members of the Profit Sharing Plan (the "Plan"). The Company, at the option of the Board of Directors, may make annual contributions to the Plan, and the contributions are not to exceed the greater of the Company’s net income for the plan year or its retained earnings at that date. In addition, the annual contributions may not exceed an amount equal to 15% of the compensation paid or accrued during the year to all participants under the Plan. No contributions were made in the past three years . The Plan includes an option for employees to make salary deferrals under Section 401(k) of the Internal Revenue Code. The matching contributions, at a rate set by the Board of Directors, totaled $9.9 million , $9.0 million , and $8.6 million for 2019 , 2018 , and 2017 , respectively. The Plan also includes an employee stock ownership plan that covers substantially all employees. The Board of Directors authorizes the Plan to purchase the Company’s common stock in the open market for allocation to the Plan participants. No purchases were made during the past three years . The Company also provides company-wide annual cash bonuses to all eligible employees based on performance criteria for each recipient and for the Company as a whole. The Company performance goals were based on the Company's premium growth and combined ratio. The Company did no t pay any company-wide annual cash bonuses to all eligible employees in 2019 , 2018 , and 2017 .

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	Share-Based Compensation In February 2015, the Company adopted the 2015 Incentive Award Plan (the "2015 Plan"), replacing the 2005 Equity Incentive Plan (the "2005 Plan") which expired in January 2015. The 2015 Plan was approved at the Company's Annual Meeting of Shareholders in May 2015. A maximum of 4,900,000 shares of common stock under the 2015 Plan are authorized for issuance upon exercise of stock options, stock appreciation rights and other awards, or upon vesting of RSU or deferred stock awards. As of December 31, 2019 , the Company had 70,000 stock options granted and outstanding and 4,830,000 shares of common stock available for future grant under the 2015 Plan. The following table presents a summary of cash received, compensation costs recognized and excess tax expense (benefit), related to the Company's share-based awards: Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Cash received from stock option exercises $ 701 $ 358 $ 2,162 Compensation cost, all share-based awards 123 145 60 Excess tax (benefit) expense, all share-based awards (7 ) 4 8 Stock Option Awards Stock option awards become exercisable at a rate of 25% per year beginning one year from the date granted, are granted at the closing price of the Company's stock on the date of grant, and expire after 10 years . In February 2018, the Compensation Committee of the Company's Board of Directors awarded a total of 80,000 stock options to four senior executives under the 2015 Plan which will vest over the four-year requisite service period. 10,000 of these stock options were forfeited in February 2019 following the departure of a senior executive. The fair values of these stock options were estimated on the date of grant using a closed-form option valuation model (Black-Scholes). No stock options were awarded in 2019 and 2017 under the 2015 Plan. The following table provides the assumptions used in the calculation of grant-date fair values of these stock options based on the Black-Scholes option pricing model: Weighted-average grant-date fair value $ 8.09 Expected volatility 33.18 % Risk-free interest rate 2.62 % Expected dividend yield 5.40 % Expected term in months 72 Expected volatility is based on historical volatility of the Company’s stock over the term of the stock options. The Company estimated the expected term of stock options, which represents the period of time that stock options granted are expected to be outstanding, by using historical exercise patterns and post-vesting termination behavior. The risk free interest rate is determined based on U.S. Treasury yields with equivalent remaining terms in effect at the time of the grant. The following table presents a summary of the stock option activity for the year ended December 31, 2019 : Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (in 000’s) Outstanding at January 1, 2019 99,500 $ 42.77 Exercised (22,000 ) $ 41.92 Canceled or expired (10,000 ) $ 43.01 Outstanding at December 31, 2019 67,500 $ 43.01 8.1 $ 376 Exercisable at December 31, 2019 15,000 $ 43.01 8.1 $ 84 The aggregate intrinsic values in the table above represent the total pre-tax intrinsic value (the difference between the Company’s closing stock price and the stock option exercise price, multiplied by the number of in-the-money stock options) that would have been received by the stock option holders had all stock options been exercised on December 31, 2019 . The aggregate intrinsic values of stock options exercised were $217,064 , $42,000 , and $371,000 for 2019 , 2018 , and 2017 , respectively. The total fair value of stock options vested during 2019 , 2018 , and 2017 was $141,584 , $0 , and $142,000 , respectively. The following table presents information regarding stock options outstanding at December 31, 2019 : Options Outstanding Options Exercisable Range of Exercise Prices Number of Options Weighted-Average Remaining Contractual Life (Years) Weighted- Average Exercise Price Number of Options Weighted- Average Exercise Price $43.01 67,500 8.1 $ 43.01 15,000 $ 43.01 As of December 31, 2019 , the Company had $0.3 million of unrecognized compensation expense related to stock options awarded under the 2015 Plan, which will be recognized ratably over the remaining vesting period of approximately 2.1 years. Restricted Stock Unit Awards Under the 2015 Plan and 2005 Plan, the Compensation Committee of the Company’s Board of Directors granted performance-based vesting RSU awards to the Company’s senior management and key employees prior to 2017. No RSUs were awarded in 2019 , 2018 , and 2017 under the 2015 Plan. The following table presents a summary of RSU awards activity, based on target vesting, during the years indicated: Year Ended December 31, 2019 2018 2017 Shares Weighted- Average Fair Value per Share Shares Weighted- Average Fair Value per Share Shares Weighted- Average Fair Value per Share Outstanding at January 1 75,250 $ 53.49 169,000 $ 53.66 271,000 $ 51.09 Vested — $ — — $ — (82,000 ) $ 45.17 Forfeited/Canceled (6,000 ) $ 53.49 (8,000 ) $ 53.49 (20,000 ) $ 53.62 Expired (69,250 ) $ 53.49 (85,750 ) $ 53.80 — $ — Outstanding at December 31 — $ — 75,250 $ 53.49 169,000 $ 53.66 The RSU awards vested at the end of a three-year performance period beginning with the year of the grant, and then only if, and to the extent that, the Company’s performance during the performance period achieved the threshold established by the Compensation Committee of the Company’s Board of Directors. Performance thresholds were based on the Company’s cumulative underwriting income, annual underwriting income, and net earned premium growth. Shares were forfeited or canceled when employees were no longer employed by the Company. Expired shares represent shares that did not meet the vesting requirements. The fair value of each RSU grant was determined based on the closing price of the Company's common stock on the grant date for awards classified as equity and on each reporting date for awards classified as a liability. Compensation cost is recognized based on management’s best estimate of the performance goals that will be achieved. If the minimum performance goals are not met, no compensation cost will be recognized and any recognized compensation cost would be reversed. In February 2019, based on certification by the Compensation Committee of the Company's Board of Directors of the results of the three -year performance period ended December 31, 2018 , all of the outstanding RSUs granted in 2016 expired unvested because the Company did not meet the minimum three -year performance threshold. In March 2018 , based on certification by the Compensation Committee of the Company's Board of Directors of the results of the three -year performance period ended December 31, 2017, all of the outstanding RSUs granted in 2015 expired unvested because the Company did not meet the minimum three -year performance threshold. In March 2017 , a total of approximately $3.6 million was paid upon vesting of 61,445 RSUs awarded in 2014 resulting from the attainment of performance goals above the target threshold during the three -year performance period ended December 31, 2016. At December 31, 2016, the Company determined that it was probable that the Company's Board of Directors would modify the payment method for the vested 2014 grant awards and pay for the vested awards in cash in lieu of shares of the Company's common stock. As a result, the 2014 grants were reclassified from equity to liability awards at December 31, 2016. $3.4 million of the amount previously recognized in additional paid-in capital for the 2014 grant awards was reclassified to other liabilities in the consolidated balance sheets at December 31, 2016. Additional $0.2 million was reclassified from additional paid-in capital to other liabilities at the vesting date of February 28, 2017 for the 2014

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2019
Earnings Per Share Reconciliation [Abstract]
Earnings Per Share	Earnings Per Share The following table presents a reconciliation of the numerators and denominators of the basic and diluted earnings per share calculations: Year Ended December 31, 2019 2018 2017 Income (Numerator) Weighted Shares (Denominator) Per-Share Amount Loss (Numerator) Weighted Shares (Denominator) Per-Share Amount Income (Numerator) Weighted Shares (Denominator) Per-Share Amount (Amounts and numbers in thousands, except per-share data) Basic EPS Income (loss) available to common stockholders $ 320,087 55,351 $ 5.78 $ (5,728 ) 55,335 $ (0.10 ) $ 144,877 55,316 $ 2.62 Effect of dilutive securities: Options — 9 — — — 11 Diluted EPS Income (loss) available to common stockholders after assumed conversions $ 320,087 55,360 $ 5.78 $ (5,728 ) 55,335 $ (0.10 ) $ 144,877 55,327 $ 2.62 Potentially dilutive securities representing approximately 0 , 78,500 , and 0 shares of common stock for 2019 , 2018 , and 2017 , respectively, were excluded from the computation of diluted earnings (loss) per common share because their effect would have been anti-dilutive. For the year ended December 31, 2018, the dilutive impact of incremental shares was excluded as the Company generated a net loss.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Operating Leases The Company is obligated under various non-cancellable lease agreements providing for office space, automobiles, and office equipment that expire at various dates through the year 2028 . See Note 7. Leases for additional information on leases and future lease payments for operating lease s as of December 31, 2019 . California Earthquake Authority ("CEA") The CEA is a quasi-governmental organization that was established to provide a market for earthquake coverage to California homeowners. The Company places all new and renewal earthquake coverage offered with its homeowners policies directly with the CEA. The Company receives a small fee for placing business with the CEA, which is recorded as other income in the consolidated statements of operations. Upon the occurrence of a major seismic event, the CEA has the ability to assess participating companies for losses. These assessments are made after CEA capital has been expended and are based upon each company’s participation percentage multiplied by the amount of the total assessment. Based upon the most recent information provided by the CEA, the Company’s maximum total exposure to CEA assessments at April 3, 2019 , the most recent date at which information was available, was approximately $73.8 million . There was no assessment made in 2019 . Regulatory Matters In March 2006, the California DOI issued an Amended Notice of Non-Compliance to a Notice of Non-Compliance originally issued in February 2004 (as amended, “2004 NNC”) alleging that the Company charged rates in violation of the California Insurance Code, willfully permitted its agents to charge broker fees in violation of California law, and willfully misrepresented the actual price insurance consumers could expect to pay for insurance by the amount of a fee charged by the consumer's insurance broker. The California DOI sought to impose a fine for each policy on which the Company allegedly permitted an agent to charge a broker fee, to impose a penalty for each policy on which the Company allegedly used a misleading advertisement, and to suspend certificates of authority for a period of one year. In January 2012, the administrative law judge bifurcated the 2004 NNC between (a) the California DOI’s order to show cause (the “OSC”), in which the California DOI asserts the false advertising allegations and accusation, and (b) the California DOI’s notice of noncompliance (the “NNC”), in which the California DOI asserts the unlawful rate allegations. In February 2012, the administrative law judge (“ALJ”) submitted a proposed decision dismissing the NNC, but the Commissioner rejected the ALJ’s proposed decision. The Company challenged the rejection in Los Angeles Superior Court in April 2012, and the Commissioner responded with a demurrer. Following a hearing, the Superior Court sustained the Commissioner’s demurrer, based on the Company’s failure to exhaust its administrative remedies, and the Company appealed. The Court of Appeal affirmed the Superior Court's ruling that the Company was required to exhaust its administrative remedies, but expressly preserved for later appeal the legal basis for the ALJ’s dismissal: violation of the Company’s due process rights. Following an evidentiary hearing in April 2013, post-hearing briefs, and an unsuccessful mediation, the ALJ closed the evidentiary record on April 30, 2014. Although a proposed decision was to be submitted to the Commissioner on or before June 30, 2014, after which the Commissioner would have 100 days to accept, reject or modify the proposed decision, the proposed decision was not submitted until December 8, 2014. On January 7, 2015, the Commissioner adopted the ALJ’s proposed decision, which became the Commissioner’s adopted order (the "Order"). The decision and Order found that from the period July 1, 1996, through 2006, the Company’s "brokers" were actually operating as "de facto agents" and that the charging of "broker fees" by these producers constituted the charging of "premium" in excess of the Company's approved rates, and assessed a civil penalty in the amount of $ 27.6 million against the Company. On February 9, 2015, the Company filed a Writ of Administrative Mandamus and Complaint for Declaratory Relief (the “Writ”) in the Orange County Superior Court seeking, among other things, to require the Commissioner to vacate the Order, to stay the Order while the Superior Court action is pending, and to judicially declare as invalid the Commissioner’s interpretation of certain provisions of the California Insurance Code. Subsequent to the filing of the Writ, a consumer group petitioned and was granted the right to intervene in the Superior Court action. The Court did not order a stay, and the $ 27.6 million assessed penalty was paid in March 2015. The Company filed an amended Writ on September 11, 2015, adding an explicit request for a refund of the penalty, with interest. On August 12, 2016, the Superior Court issued its ruling on the Writ, for the most part granting the relief sought by the Company. The Superior Court found that the Commissioner and the California DOI did commit due process violations, but declined to dismiss the case on those grounds. The Superior Court also agreed with the Company that the broker fees at issue were not premium, and that the penalties imposed by the Commissioner were improper, and therefore vacated the Order imposing the penalty. The Superior Court entered final judgment on November 17, 2016, issuing a writ requiring the Commissioner to refund the entire penalty amount within 120 days, plus prejudgment interest at the statutory rate of 7% . On January 12, 2017, the California DOI filed a notice of appeal of the Superior Court's judgment. While the appeal was pending, the California DOI returned the entire penalty amount plus accrued interest, a total of $ 30.9 million , to the Company in June 2017 in order to avoid accruing further interest. Because the matter had not been settled or otherwise finally resolved at the time, the Company did not recognize the $ 30.9 million as a gain in the consolidated statements of operations; instead, it recorded the $ 30.9 million plus interest earned in other liabilities in the consolidated balance sheets. The Company had filed a motion to dismiss the false advertising portion of the case based on the Superior Court's findings, but the ALJ denied that motion after the appeal was filed. The ALJ did, however, grant the Company's alternative request to stay further proceedings pending the final determination of the appeal. On May 7, 2019, the California Court of Appeal issued its decision reversing the Superior Court’s original judgment and directing the Superior Court to enter a new judgment in favor of the California DOI. The Company filed a petition for rehearing, which was denied, and subsequently filed a petition for review in the Supreme Court of California. Based on the decision of the California Court of Appeal, the Company accrued approximately $ 3 million in the second quarter of 2019, which represented an estimated amount of statutory interest the Company might be ordered to pay beyond the actual interest it had earned on the $ 30.9 million . The California Supreme Court denied the Company's petition for review on August 14, 2019, and the Commissioner's Order became final. On August 30, 2019, the Company paid approximately $ 35 million to the California DOI, which consisted of the $ 30.9 million received from the California DOI in June 2017 plus statutory interest. On October 1, 2019, the Company and the California DOI entered into a settlement agreement resolving the case involving the 2004 NNC, along with the related false advertising action that had been stayed pending the outcome of that case. Pursuant to the settlement agreement, the Company paid an additional amount of approximately $ 6 million to the California DOI on October 2, 2019, bringing the total settlement amount to approximately $ 41.2 million , in full settlement of the entire case including the false advertising action; the Company has not admitted to any allegations raised in the case. As a result of the settlement, the Company recognized approximately $ 6 million of incremental expense in its consolidated statements of operations in the third quarter of 2019 relating to the settlement. Litigation The Company is, from time to time, named as a defendant in various lawsuits or regulatory actions incidental to its insurance business. The majority of lawsuits brought against the Company relate to insurance claims that arise in the normal course of business and are reserved for through the reserving process. For a discussion of the Company’s reserving methods, see Note 1. Summary of Significant Accounting Policies. The Company also establishes reserves for non-insurance claims related lawsuits, regulatory actions, and other contingencies when the Company believes a loss is probable and is able to estimate its potential exposure. For loss contingencies believed to be reasonably possible, the Company also discloses the nature of the loss contingency and an estimate of the possible loss, range of loss, or a statement that such an estimate cannot be made. While actual losses may differ from the amounts recorded and the ultimate outcome of the Company’s pending actions is generally not yet determinable, the Company does not believe that the ultimate resolution of currently pending legal or regulatory proceedings, either individually or in the aggregate, will have a material adverse effect on its financial condition or cash flows. In all cases, the Company vigorously defends itself unless a reasonable settlement appears appropriate. The Company is also involved in proceedings relating to assessments and rulings made by the FTB. See Note 11. Income Taxes. There are no environmental proceedings arising under federal, state, or local laws or regulations to be discussed.

Quarterly Financial Information

Quarterly Financial Information (Unaudited)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Data [Abstract]
Quarterly Financial Information (Unaudited)	Quarterly Financial Information (Unaudited) The following table presents summarized quarterly financial data for 2019 and 2018 : Quarter Ended March 31 June 30 September 30 December 31 (Amounts in thousands, except per share data) 2019 Net premiums earned $ 870,245 $ 888,776 $ 915,012 $ 925,384 Change in fair value of financial instruments pursuant to the fair value option 104,227 50,281 24,021 18,173 Income before income taxes 167,169 101,595 80,840 28,465 Net income 135,867 83,250 69,282 31,688 Basic earnings per share 2.46 1.50 1.25 0.57 Diluted earnings per share 2.45 1.50 1.25 0.57 Dividends paid per share 0.6275 0.6275 0.6275 0.6300 2018 Net premiums earned $ 808,084 $ 833,959 $ 858,135 $ 868,233 Change in fair value of financial instruments pursuant to the fair value option (58,532 ) 8,793 (12,907 ) (70,020 ) (Loss) income before income taxes (59,699 ) 73,246 70,286 (114,448 ) Net (loss) income (42,607 ) 60,180 58,578 (81,879 ) Basic (loss) earnings per share (0.77 ) 1.09 1.06 (1.48 ) Diluted (loss) earnings per share (0.77 ) 1.09 1.06 (1.48 ) Dividends paid per share 0.6250 0.6250 0.6250 0.6275 Net income for 2019 was primarily attributable to net premiums earned, net realized investment gains, partially offset by operating expenses and losses and loss adjustment expenses, including catastrophe losses and unfavorable development on prior accident years' loss and loss adjustment expense reserves. The primary causes of the net income for the fourth quarter of 2019 were the increases in the fair values of the Company’s fixed maturity and equity securities due to decreases in market interest rates and the overall improvement in equity markets. Net income for 2018

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Segment Information	Segment Information The Company is primarily engaged in writing personal automobile insurance and provides related property and casualty insurance products to its customers through 14 subsidiaries in 11 states, principally in California. The Company has one reportable business segment - the Property and Casualty business segment. The Company’s Chief Operating Decision Maker evaluates operating results based on pre-tax underwriting results which is calculated as net premiums earned less (a) losses and loss adjustment expenses and (b) underwriting expenses (policy acquisition costs and other operating expenses). Expenses are allocated based on certain assumptions that are primarily related to premiums and losses. The Company’s net investment income, net realized investment gains (losses), other income, and interest expense are excluded in evaluating pre-tax underwriting profit. The Company does not allocate its assets, including investments, or income taxes in evaluating pre-tax underwriting profit. Property and Casualty Lines The Property and Casualty business segment offers several insurance products to the Company’s individual customers and small business customers. These insurance products are: private passenger automobile, which is the Company’s primary business, and related insurance products such as homeowners, commercial automobile and commercial property. These insurance products are primarily sold to the Company’s individual customers and small business customers, which increases retention of the Company’s private personal automobile client base. The insurance products comprising the Property and Casualty business segment are sold through the same distribution channels, mainly through independent and 100% owned insurance agents, and go through a similar underwriting process. Other Lines The Other business segment represents net premiums written and earned from an operating segment that does not meet the quantitative thresholds required to be considered a reportable segment. This operating segment offers automobile mechanical protection warranties which are primarily sold through automobile dealerships and credit unions. The following table presents operating results by reportable segment for the years ended: Year Ended December 31, 2019 2018 2017 Property & Casualty Other Total Property & Casualty Other Total Property & Casualty Other Total (Amounts in millions) Net premiums earned $ 3,571.0 $ 28.4 $ 3,599.4 $ 3,337.9 $ 30.5 $ 3,368.4 $ 3,160.9 $ 34.5 $ 3,195.4 Less: Losses and loss adjustment expenses 2,692.7 13.3 2,706.0 2,562.0 14.8 2,576.8 2,427.8 17.1 2,444.9 Underwriting expenses 857.3 14.1 871.4 802.7 14.1 816.8 773.1 15.6 788.7 Underwriting gain (loss) 21.0 1.0 22.0 (26.8 ) 1.6 (25.2 ) (40.0 ) 1.8 (38.2 ) Investment income 141.3 135.8 124.9 Net realized investment gains (losses) 222.8 (133.5 ) 83.7 Other income 9.0 9.3 11.9 Interest expense (17.0 ) (17.0 ) (15.2 ) Pre-tax income (loss) $ 378.1 $ (30.6 ) $ 167.1 Net income (loss) $ 320.1 $ (5.7 ) $ 144.9 The following table presents the Company’s net premiums earned and direct premiums written by line of insurance business for the years ended: Year Ended December 31, 2019 2018 2017 Property & Casualty Other Total Property & Casualty Other Total Property & Casualty Other Total (Amounts in millions) Private passenger automobile $ 2,756.5 $ — $ 2,756.5 $ 2,602.1 $ — $ 2,602.1 $ 2,473.8 $ — $ 2,473.8 Homeowners 514.8 — 514.8 459.4 — 459.4 431.6 — 431.6 Commercial automobile 208.7 — 208.7 190.1 — 190.1 171.9 — 171.9 Other 91.0 28.4 119.4 86.3 30.5 116.8 83.6 34.5 118.1 Net premiums earned $ 3,571.0 $ 28.4 $ 3,599.4 $ 3,337.9 $ 30.5 $ 3,368.4 $ 3,160.9 $ 34.5 $ 3,195.4 Private passenger automobile $ 2,820.5 $ — $ 2,820.5 $ 2,703.6 $ — $ 2,703.6 $ 2,480.0 $ — $ 2,480.0 Homeowners 598.5 — 598.5 524.9 — 524.9 469.9 — 469.9 Commercial automobile 217.3 — 217.3 198.5 — 198.5 178.2 — 178.2 Other 106.3 32.0 138.3 97.2 26.7 123.9 92.9 27.9 120.8 Direct premiums written $ 3,742.6 $ 32.0 $ 3,774.6 $ 3,524.2 $ 26.7 $ 3,550.9 $ 3,221.0 $ 27.9 $ 3,248.9

Summary Of Investments Other Th

Summary Of Investments Other Than Investments In Related Parties	12 Months Ended
	Dec. 31, 2019
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract]
Summary Of Investments Other Than Investments In Related Parties	MERCURY GENERAL CORPORATION AND SUBSIDIARIES SUMMARY OF INVESTMENTS OTHER THAN INVESTMENTS IN RELATED PARTIES DECEMBER 31, 2019 Type of Investment Cost Fair Value Amounts in the Balance Sheet (Amounts in thousands) Fixed maturity securities: U.S. government bonds $ 22,502 $ 22,637 $ 22,637 Municipal securities 2,435,346 2,554,208 2,554,208 Mortgage-backed securities 62,566 63,003 63,003 Corporate securities 233,730 235,565 235,565 Collateralized loan obligations 200,656 199,218 199,217 Other asset-backed securities 18,476 18,644 18,645 Total fixed maturity securities 2,973,276 3,093,275 3,093,275 Equity securities: Common stock 498,514 586,367 586,367 Non-redeemable preferred stock 49,442 49,708 49,708 Private equity fund 1,137 1,203 1,203 Private equity funds measured at net asset value (1) 99,189 87,473 87,473 Total equity securities 648,282 724,751 724,751 Short-term investments 494,060 494,135 494,135 Total investments $ 4,115,618 $ 4,312,161 $ 4,312,161 __________ (1) The fair value is measured using the NAV practical expedient. See Note 4. Fair Value Measurements of the Notes to Consolidated Financial Statements for additional information. SCHEDULE I, Continued MERCURY GENERAL CORPORATION AND SUBSIDIARIES SUMMARY OF INVESTMENTS OTHER THAN INVESTMENTS IN RELATED PARTIES DECEMBER 31, 2018 Type of Investment Cost Fair Value Amounts in the Balance Sheet (Amounts in thousands) Fixed maturity securities: U.S. government bonds $ 25,131 $ 25,003 $ 25,003 Municipal securities 2,599,056 2,620,132 2,620,132 Mortgage-backed securities 30,640 30,952 30,952 Corporate securities 107,479 105,524 105,524 Collateralized loan obligations 169,626 165,789 165,789 Other asset-backed securities 37,609 37,761 37,761 Total fixed maturity securities 2,969,541 2,985,161 2,985,161 Equity securities: Common stock 438,504 430,973 430,973 Non-redeemable preferred stock 34,429 31,433 31,433 Private equity fund 1,481 1,445 1,445 Private equity fund measured at net asset value (1) 69,668 65,780 65,780 Total equity securities 544,082 529,631 529,631 Short-term investments 254,518 253,299 253,299 Total investments $ 3,768,141 $ 3,768,091 $ 3,768,091 __________ (1) The fair value is measured using the NAV practical expedient. See Note 4. Fair Value Measurements of the Notes to Consolidated Financial Statements for additional information.

Condensed Financial Information

Condensed Financial Information of Registrant	12 Months Ended
	Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract]
Condensed Financial Information of Registrant	MERCURY GENERAL CORPORATION CONDENSED FINANCIAL INFORMATION OF REGISTRANT BALANCE SHEETS December 31, 2019 2018 (Amounts in thousands) ASSETS Investments, at fair value: Equity securities (cost $81,802; $110,279) $ 114,668 $ 119,037 Short-term investments (cost $29,356; $3,166) 29,356 3,166 Investment in subsidiaries 2,008,163 1,850,582 Total investments 2,152,187 1,972,785 Cash 39,766 24,140 Accrued investment income 90 161 Amounts receivable from affiliates 244 1,172 Current income taxes — — Income tax receivable from affiliates 9,192 19,225 Other assets 312 446 Total assets $ 2,201,791 $ 2,017,929 LIABILITIES AND SHAREHOLDERS’ EQUITY Notes payable $ 372,133 $ 371,734 Accounts payable and accrued expenses 17 25 Amounts payable to affiliates 22 3,082 Income tax payable to affiliates 4,106 580 Current income taxes 14,052 17,773 Deferred income taxes 7,059 1,691 Other liabilities 4,900 5,360 Total liabilities 402,289 400,245 Commitments and contingencies Shareholders’ equity: Common stock 98,828 98,026 Retained earnings 1,700,674 1,519,658 Total shareholders’ equity 1,799,502 1,617,684 Total liabilities and shareholders’ equity $ 2,201,791 $ 2,017,929 SCHEDULE II, Continued MERCURY GENERAL CORPORATION CONDENSED FINANCIAL INFORMATION OF REGISTRANT STATEMENTS OF OPERATIONS Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Revenues: Net investment income $ 3,735 $ 4,661 $ 4,090 Net realized investment gains (losses) 31,682 (10,797 ) 19,279 Other 5 2 — Total revenues 35,422 (6,134 ) 23,369 Expenses: Other operating expenses 2,592 2,343 1,918 Interest 17,036 17,036 14,856 Total expenses 19,628 19,379 16,774 Income (loss) before income taxes and equity in net income of subsidiaries 15,794 (25,513 ) 6,595 Income tax expense (benefit) 2,816 (5,144 ) 1,572 Income (loss) before equity in net income of subsidiaries 12,978 (20,369 ) 5,023 Equity in net income of subsidiaries 307,109 14,641 139,854 Net income (loss) $ 320,087 $ (5,728 ) $ 144,877 SCHEDULE II, Continued MERCURY GENERAL CORPORATION CONDENSED FINANCIAL INFORMATION OF REGISTRANT STATEMENTS OF CASH FLOWS Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Cash flows from operating activities: Net cash used in operating activities $ (5,392 ) $ (16,108 ) $ (14,503 ) Cash flows from investing activities: Capital contribution to subsidiaries (125 ) (541 ) (140,125 ) Capital distribution from subsidiaries 30,069 — — Distributions received from special purpose entities 5,153 5,998 5,243 Dividends received from subsidiaries 114,431 135,000 109,000 Fixed maturity securities available for sale in nature: Sales — — 1,614 Equity securities available for sale in nature Purchases (39,966 ) (22,286 ) (22,406 ) Sales 74,663 33,052 18,876 Calls — — 4,000 (Increase) decrease in short-term investments (25,213 ) 18,065 (20,607 ) Other, net 376 605 310 Net cash provided by (used in) investing activities 159,388 169,893 (44,095 ) Cash flows from financing activities: Dividends paid to shareholders (139,071 ) (138,478 ) (137,886 ) Proceeds from stock options exercised 701 358 2,162 Net proceeds from issuance of senior notes — — 371,011 Payoff of principal on loan and credit facilities — — (180,000 ) Net cash (used in) provided by financing activities (138,370 ) (138,120 ) 55,287 Net increase (decrease) in cash 15,626 15,665 (3,311 ) Cash: Beginning of year 24,140 8,475 11,786 End of year $ 39,766 $ 24,140 $ 8,475 SUPPLEMENTAL CASH FLOW DISCLOSURE Interest paid $ 16,586 $ 16,586 $ 9,435 Income taxes (refunded) paid, net $ (12,391 ) $ 4,296 $ 346 The accompanying condensed financial information should be read in conjunction with the Consolidated Financial Statements and Notes to Consolidated Financial Statements included in this report. Distributions received from Special Purpose Entities On February 13, 2014, Fannette Funding LLC ("FFL"), a special purpose investment vehicle, formed by and consolidated into the Company, entered into a total return swap agreement with Citibank. The agreement had an initial term of one year, subject to periodic renewal. In July 2018, the agreement was renewed through January 24, 2020. During the fourth quarter of 2019, the underlying obligations were liquidated and the total return swap agreement between FFL and Citibank was terminated. Under the agreement, FFL received the income equivalent on underlying obligations due to Citibank and paid to Citibank interest on the outstanding notional amount of the underlying obligations. The total return swap was secured by approximately $31 million of U.S. Treasuries as collateral, which were included in short-term investments on the consolidated balance sheets. The Company paid interest equal to LIBOR plus 128 basis points prior to the renewal of the agreement in January 2018, LIBOR plus 120 basis points subsequent to the January 2018 renewal through July 2018, and LIBOR plus105 basis points subsequent to the July 2018 renewal until December 2019, on approximately $100 million of underlying obligations as of December 31, 2018 . On August 9, 2013, Animas Funding LLC ("AFL"), a special purpose investment vehicle, formed and consolidated by the Company, entered into a three-year total return swap agreement with Citibank, which was renewed for an additional one-year term through February 17, 2018. During June and July 2017, the underlying obligations were liquidated and the total return swap agreement between AFL and Citibank was terminated on. Under the agreement, AFL received the income equivalent on underlying obligations due to Citibank and paid to Citibank interest on the outstanding notional amount of the underlying obligations. The total return swap was secured by approximately $40 million of U.S. Treasuries as collateral, which were included in short-term investments on the consolidated balance sheets. The Company paid interest equal to LIBOR plus 135 basis points prior to the amendment of the agreement in January 2017 and LIBOR plus 128 basis points subsequent to the amendment until July 2017, on approximately $152 million of underlying obligations as of December 31, 2016. Distributions of $5.2 million and $6.0 million were received in 2019 and 2018 , respectively, from these special purpose entities. Dividends received from Subsidiaries Dividends of $114,431,433 , $135,000,000 and $109,000,000 were received by Mercury General from its 100% owned insurance subsidiaries in 2019 , 2018 and 2017 , respectively, and are recorded as a reduction to investment in subsidiaries. Capitalization of Insurance Subsidiaries Mercury General made capital contributions to its insurance subsidiaries of $125,000 , $540,619 and $140,125,000 in 2019 , 2018 and 2017 , respectively. In addition, Mercury General received a capital distribution from one of its insurance subsidiaries of $30,068,567 in 2019 . Notes Payable On March 8, 2017, Mercury General completed a public debt offering issuing $375 million of senior notes. The notes are unsecured senior obligations of Mercury General, with a 4.4% annual coupon payable on March 15 and September 15 of each year commencing September 15, 2017. These notes mature on March 15, 2027. The Company used the proceeds from the notes to pay off the total outstanding balance of $320 million under the existing loan and credit facility agreements and terminated the agreements on March 8, 2017. The remainder of the proceeds from the notes was used for general corporate purposes. Mercury General incurred debt issuance costs of approximately $3.4 million , inclusive of underwriters' fees. The notes were issued at a slight discount of 99.847% of par, resulting in the effective annualized interest rate, including debt issuance costs, of approximately 4.45% . Commitments and Contingencies On March 29, 2017, Mercury General entered into an unsecured credit agreement that provides for revolving loans of up to $50 million and matures on March 29, 2022. The interest rates on borrowings under the credit facility are based on the Company's debt to total capital ratio and range from LIBOR plus 112.5 basis points when the ratio is under 15% to LIBOR plus 162.5 basis points when the ratio is greater than or equal to 25%. Commitment fees for the undrawn portions of the credit facility range from 12.5 basis points when the ratio is under 15% to 22.5 basis points when the ratio is greater than or equal to 25%. The debt to total capital ratio is expressed as a percentage of (a) consolidated debt to (b) consolidated shareholders' equity plus consolidated debt. The Company's debt to total capital ratio was 17.2% at December 31, 2019 , resulting in a 15 basis point commitment fee on the $50 million undrawn portion of the credit facility. As of February 6, 2020 , there have been no borrowings under this facility. Federal Income Taxes The Company files a consolidated federal income tax return for the following entities: Mercury Casualty Company Mercury County Mutual Insurance Company Mercury Insurance Company Mercury Insurance Company of Florida California Automobile Insurance Company Mercury Indemnity Company of America California General Underwriters Insurance Company, Inc. Mercury Select Management Company, Inc. Mercury Insurance Company of Illinois Mercury Insurance Services LLC Mercury Insurance Company of Georgia AIS Management LLC Mercury Indemnity Company of Georgia Auto Insurance Specialists LLC Mercury National Insurance Company PoliSeek AIS Insurance Solutions, Inc. American Mercury Insurance Company Animas Funding LLC American Mercury Lloyds Insurance Company Fannette Funding LLC Workmen's Auto Insurance Company Mercury Plus Insurance Services LLC The method of allocation between the companies is subject to an agreement approved by the Board of Directors. Allocation is based upon separate return calculations with current credit for net losses incurred by the insurance subsidiaries to the extent it can be used in the current consolidated return.

Supplemental Reinsurance Premiu

Supplemental Reinsurance Premiums	12 Months Ended
	Dec. 31, 2019
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract]
Supplemental Reinsurance Premiums	SCHEDULE IV MERCURY GENERAL CORPORATION AND SUBSIDIARIES REINSURANCE THREE YEARS ENDED DECEMBER 31, Property and Liability Insurance Earned Premiums 2019 2018 2017 (Amounts in thousands) Direct amounts $ 3,655,233 $ 3,416,687 $ 3,221,493 Ceded to other companies (56,725 ) (48,941 ) (26,881 ) Assumed 910 665 825 Net amounts $ 3,599,418 $ 3,368,411 $ 3,195,437

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Consolidation and Basis of Presentation	The consolidated financial statements include the accounts of Mercury General Corporation and its subsidiaries: Insurance Companies Mercury Casualty Company ("MCC") Mercury National Insurance Company Mercury Insurance Company ("MIC") American Mercury Insurance Company California Automobile Insurance Company ("CAIC") American Mercury Lloyds Insurance Company (1) California General Underwriters Insurance Company, Inc. Mercury County Mutual Insurance Company (2) Mercury Insurance Company of Illinois Mercury Insurance Company of Florida Mercury Insurance Company of Georgia Mercury Indemnity Company of America Mercury Indemnity Company of Georgia Workmen's Auto Insurance Company ("WAIC") Non-Insurance Companies Mercury Select Management Company, Inc. AIS Management LLC Mercury Insurance Services LLC Auto Insurance Specialists LLC Animas Funding LLC ("AFL") (3) PoliSeek AIS Insurance Solutions, Inc. Fannette Funding LLC ("FFL") (3) Mercury Plus Insurance Services LLC __________ (1) American Mercury Lloyds Insurance Company is not owned but is controlled by the Company through its attorney-in-fact, Mercury Select Management Company, Inc. (2) Mercury County Mutual Insurance Company is not owned but is controlled by the Company through a management contract. (3) Special purpose investment vehicle. The consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles ("GAAP"), which differ in some respects from those filed in reports to insurance regulatory authorities. All intercompany transactions and balances have been eliminated.
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, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. These estimates require the Company to apply complex assumptions and judgments, and often the Company must make estimates about effects of matters that are inherently uncertain and will likely change in subsequent periods. The most significant assumptions in the preparation of these consolidated financial statements relate to reserves for losses and loss adjustment expenses. Actual results could differ from those estimates.
Investments	The Company applies the fair value option to all fixed maturity and equity securities and short-term investments at the time an eligible item is first recognized. The primary reasons for electing the fair value option were simplification and cost benefit considerations as well as the expansion of the use of fair value measurement by the Company consistent with the long-term measurement objectives of the Financial Accounting Standards Board (the "FASB") for accounting for financial instruments. See Note 2. Financial Instruments for additional information on the fair value option. Gains and losses due to changes in fair value for items measured at fair value pursuant to application of the fair value option are included in net realized investment gains (losses) in the Company's consolidated statements of operations, while interest and dividend income on investment holdings are recognized on an accrual basis on each measurement date and are included in net investment income in the Company's consolidated statements of operations. Fixed maturity securities include debt securities, which may have fixed or variable principal payment schedules, may be held for indefinite periods of time, and may be used as a part of the Company’s asset/liability strategy or sold in response to changes in interest rates, anticipated prepayments, risk/reward characteristics, liquidity needs, tax planning considerations, or other economic factors. Premiums and discounts on fixed maturities are amortized using first call date and are adjusted for anticipated prepayments. Premiums and discounts on mortgage-backed securities are adjusted for anticipated prepayment using the retrospective method, with the exception of some beneficial interests in securitized financial assets, which are accounted for using the prospective method. Equity securities consist of non-redeemable preferred stocks, common stocks on which dividend income is partially tax-sheltered by the 50% corporate dividend received deduction, and private equity funds. Short-term investments include money market accounts, options, and short-term bonds that are highly rated short duration securities and redeemable within one year. In the normal course of investing activities, the Company either forms or enters into relationships with variable interest entities ("VIEs"). A VIE is an entity that either has investors that lack certain essential characteristics of a controlling financial interest, such as simple majority kick-out rights, or lacks sufficient funds to finance its own activities without financial support provided by other entities. The Company performs ongoing qualitative assessments of the VIEs to determine whether the Company has a controlling financial interest in the VIE and therefore is the primary beneficiary. The Company is deemed to have a controlling financial interest when it has both the ability to direct the activities that most significantly impact the economic performance of the VIE and the obligation to absorb losses or right to receive benefits from the VIE that could potentially be significant to the VIE. Based on the Company's assessment, if it determines it is the primary beneficiary, the Company consolidates the VIE in its consolidated financial statements. The Company forms special purpose investment vehicles to facilitate its investment activities involving derivative instruments such as total return swaps, or limited partnerships or limited liability companies such as private equity funds. These special purpose investment vehicles are consolidated VIEs as the Company has determined it is the primary beneficiary of such VIEs. Creditors have no recourse against the Company in the event of default by these VIEs. The Company had no implied or unfunded commitments to these VIEs at December 31, 2019 and 2018 . The Company's financial or other support provided to these VIEs and its loss exposure are limited to its collateral and original investment. The Company invests, directly or indirectly through its consolidated VIEs, in limited partnerships or limited liability companies such as private equity funds. These investments are non-consolidated VIEs as the Company has determined it is not the primary beneficiary. The Company's maximum exposure to loss is limited to the total carrying value that is included in equity securities in the Company's consolidated balance sheets. At December 31, 2019 and 2018 , the Company had no outstanding unfunded commitments to these VIEs whereby the Company may be called by the VIEs during the commitment period to fund the purchase of new investments and the expenses of the VIEs.
Deferred Policy Acquisition Costs	Deferred policy acquisition costs consist of commissions paid to outside agents, premium taxes, salaries, and certain other underwriting costs that are incremental or directly related to the successful acquisition of new and renewal insurance contracts and are amortized over the life of the related policy in proportion to premiums earned. Deferred policy acquisition costs are limited to the amount that will remain after deducting from unearned premiums and anticipated investment income, the estimated losses and loss adjustment expenses, and the servicing costs that will be incurred as premiums are earned. The Company’s deferred policy acquisition costs are further limited by excluding those costs not directly related to the successful acquisition of insurance contracts.
Fixed Assets	Fixed assets are stated at historical cost less accumulated depreciation and amortization. The useful life for buildings is 30 to 40 years . Furniture, equipment, and purchased software are depreciated on a combination of straight-line and accelerated methods over 3 to 7 years . The Company has capitalized certain consulting costs, payroll, and payroll-related costs for employees related to computer software developed for internal use, which are amortized on a straight-line method over the estimated useful life of the software, generally not exceeding 7 years . In accordance with applicable accounting standards, capitalization ceases no later than the point at which a computer software project is substantially complete and ready for its intended use. Leasehold improvements are amortized over the shorter of the useful life of the assets or the life of the associated lease.
Goodwill And Other Intangible Assets	Goodwill and other intangible assets arise as a result of business acquisitions and consist of the excess of the cost of the acquisitions over the tangible and intangible assets acquired and liabilities assumed and identifiable intangible assets acquired. Identifiable intangible assets consist of the value of customer relationships, trade names, software and technology, and favorable leases, which are all subject to amortization, and an insurance license which is not subject to amortization.
Premium Revenue Recognition	Premium revenue is recognized on a pro-rata basis over the terms of the policies in proportion to the amount of insurance protection provided. Premium revenue includes installment and other fees for services which are recognized in the periods in which the services are rendered. Unearned premiums represent the portion of the written premium related to the unexpired policy term. Unearned premiums are predominantly computed monthly on a pro-rata basis and are stated gross of reinsurance deductions,
Losses And Loss Adjustment Expenses	Unpaid losses and loss adjustment expenses are determined in amounts estimated to cover incurred losses and loss adjustment expenses and established based upon the Company’s assessment of claims pending and the development of prior years’ loss liabilities. These amounts include liabilities based upon individual case estimates for reported losses and loss adjustment expenses and estimates of such amounts that are incurred but not reported. Changes in the estimated liability are charged or credited to operations as the losses and loss adjustment expenses are re-estimated. The liability is stated net of anticipated salvage and subrogation recoveries, and gross of reinsurance recoverables on unpaid losses. Estimating loss reserves is a difficult process as many factors can ultimately affect the final settlement of a claim and, therefore, the loss reserve that is required. A key assumption in estimating loss reserves is the degree to which the historical data used to analyze reserves will be predictive of ultimate claim costs on incurred claims. Changes in the regulatory and legal environments, results of litigation, medical costs, the cost of repair materials, and labor rates, among other factors, can impact this assumption. In addition, time can be a critical part of reserving determinations since the longer the span between the incidence of a loss and the payment or settlement of a claim, the more variable the ultimate settlement amount could be. Accordingly, short-tail claims, such as property damage claims, tend to be more reasonably predictable than long-tail liability claims, such as those involving the Company’s bodily injury ("BI") coverages. Management believes that the liability for losses and loss adjustment expenses is adequate to cover the ultimate net cost of losses and loss adjustment expenses incurred to date. However, since the provisions for loss reserves are necessarily based upon estimates, the ultimate liability may be more or less than such provisions. The Company analyzes loss reserves quarterly primarily using the incurred loss, paid loss, average severity coupled with the claim count development methods, and the generalized linear model ("GLM") described below. When deciding among methods to use, the Company evaluates the credibility of each method based on the maturity of the data available and the claims settlement practices for each particular line of insurance business or coverage within a line of insurance business. The Company may also evaluate qualitative factors such as known changes in laws or legal ruling that could affect claims handling or other external environmental factors or internal factors that could affect the settlement of claims. When establishing the loss reserve, the Company will generally analyze the results from all of the methods used rather than relying on a single method. While these methods are designed to determine the ultimate losses on claims under the Company’s policies, there is inherent uncertainty in all actuarial models since they use historical data to project outcomes. The Company believes that the techniques it uses provide a reasonable basis in estimating loss reserves. • The incurred loss method analyzes historical incurred case loss (case reserves plus paid losses) development to estimate ultimate losses. The Company applies development factors against current case incurred losses by accident period to calculate ultimate expected losses. The Company believes that the incurred loss method provides a reasonable basis for evaluating ultimate losses, particularly in the Company’s larger, more established lines of insurance business which have a long operating history. • The paid loss method analyzes historical payment patterns to estimate the amount of losses yet to be paid. • The average severity method analyzes historical loss payments and/or incurred losses divided by closed claims and/or total claims to calculate an estimated average cost per claim. From this, the expected ultimate average cost per claim can be estimated. The average severity method coupled with the claim count development method provides meaningful information regarding inflation and frequency trends that the Company believes is useful in establishing loss reserves. The claim count development method analyzes historical claim count development to estimate future incurred claim count development for current claims. The Company applies these development factors against current claim counts by accident period to calculate ultimate expected claim counts. • The GLM determines an average severity for each percentile of claims that have been closed as a percentage of estimated ultimate claims. The average severities are applied to open claims to estimate the amount of losses yet to be paid. The GLM utilizes operational time, determined as a percentile of claims closed rather than a finite calendar period, which neutralizes the effect of changes in the timing of claims handling. The Company analyzes catastrophe losses separately from non-catastrophe losses. For catastrophe losses, the Company generally determines claim counts based on claims reported and development expectations from previous catastrophes and applies an average expected loss per claim based on loss reserves established by adjusters and average losses on previous similar catastrophes. For catastrophe losses on individual properties that are expected to be total losses, the Company typically establishes reserves at the policy limits.
Derivative Financial Instruments	The Company accounts for all derivative instruments, other than those that meet the normal purchases and sales exception, as either an asset or liability, measured at fair value, which is based on information obtained from independent parties. In addition, changes in fair value are recognized in earnings unless specific hedge accounting criteria are met. The Company’s derivative instruments include total return swaps and options sold.
Earnings per Share	Basic earnings per share excludes dilution and reflects net income divided by the weighted average shares of common stock outstanding during the periods presented. Diluted earnings per share is based on the weighted average shares of common stock and potential dilutive securities outstanding during the periods presented.
Income Taxes	Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial reporting basis and the respective tax basis of the Company’s assets and liabilities, and expected benefits of utilizing net operating loss, capital loss, and tax-credit carryforwards. The Company assesses the likelihood that its deferred tax assets will be realized and, to the extent management does not believe these assets are more likely than not to be realized, a valuation allowance is established. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates or laws is recognized in earnings in the period that includes the enactment date. At December 31, 2019 , the Company’s deferred income taxes were in a net liability position, which included a combination of ordinary and capital deferred tax benefits and expenses. In assessing the Company's ability to realize deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon generating sufficient taxable income of the appropriate character within the carryback and carryforward periods available under the tax law. Management considers the reversal of deferred tax liabilities, projected future taxable income of an appropriate nature, and tax-planning strategies in making this assessment. The Company believes that through the use of prudent tax planning strategies and the generation of capital gains, sufficient income will be realized in order to maximize the full benefits of its deferred tax assets. Although realization is not assured, management believes that it is more likely than not that the Company’s deferred tax assets will be realized.
Reinsurance	Liabilities for unearned premiums and unpaid losses are stated in the accompanying consolidated financial statements before deductions for ceded reinsurance. Unpaid losses and unearned premiums that are ceded to reinsurers are carried in reinsurance recoverables and other assets, respectively, in the Company's consolidated balance sheets. Earned premiums are stated net of deductions for ceded reinsurance. The Company is party to a Catastrophe Reinsurance Treaty ("Treaty") covering a wide range of perils that is effective through June 30, 2020 . The Treaty provides $600 million of coverage on a per occurrence basis after covered catastrophe losses exceed the $40 million Company retention limit. The Treaty specifically excludes coverage for any Florida business and for California earthquake losses on fixed property policies, such as homeowners, but does cover losses from fires following an earthquake. In addition, the Treaty provides for one full reinstatement of coverage limits and excludes losses from wildfires on certain coverage layers of the Treaty. The Company recognized ceded premiums earned of approximately $57 million , $49 million , and $27 million in 2019 , 2018 , and 2017 , respectively, which are included in net premiums earned in its consolidated statements of operations, and ceded losses and loss adjustment expenses of approximately $(71) million , $257 million , and $90 million in 2019 , 2018 , and 2017 , respectively, which are included in losses and loss adjustment expenses in its consolidated statements of operations. The negative ceded losses and loss adjustment expenses in 2019 primarily resulted from the re-estimation of the catastrophe loss reserves, including estimated subrogation, on the 2018 Camp and Woolsey Fires and the 2017 Southern California wildfires, which have previously been ceded to reinsurers under the Treaty, in conjunction with the sale of the Company's subrogation rights during the first quarter of 2019. The re-estimation primarily benefited the Company's reinsurers. See Note 12. Loss and Loss Adjustment Expense Reserves for additional information. The Insurance Companies, as primary insurers, are required to pay losses to the extent reinsurers are unable to discharge their obligations under the reinsurance agreements.
Share-Based Compensation	Share-based compensation expenses for all stock options granted or modified are based on their estimated grant-date fair values. The Company recognizes these compensation costs on a straight-line basis over the requisite service period of the award, which is the option vesting term of four years . The Company estimates forfeitures expected to occur in determining the amount of compensation cost to be recognized in each period. The fair value of stock option awards is estimated using the Black-Scholes option pricing model with the grant-date assumptions and weighted-average fair values.
Revenue from Contract with Customer	The Company's revenue from contracts with customers that are in scope of Topic 606 represents the commission income that the Company's 100% owned insurance agencies, Auto Insurance Specialists LLC ("AIS") and PoliSeek AIS Insurance Solutions, Inc. ("Poliseek"), earned from third-party insurers. The Company's commission income from third-party insurers was approximately $16.3 million and $16.0 million representing approximately 0.4% and 0.5% of the consolidated total revenue, for the years ended December 31, 2019 and 2018 , respectively, with related expenses of approximately $10.5 million for each of the years ended December 31, 2019 and 2018 . Due to the immateriality of the Company's commission income and its related expenses to the overall consolidated financial statements, the commission income, net of related expenses, is included in other revenues in the Company's consolidated statements of operations, and in other income of the Property and Casualty business segment in the Company's segment reporting in accordance with Topic 280, Segment Reporting (see Note 20. Segment Information). AIS and PoliSeek are primarily engaged in the marketing and sales of insurance policies in private passenger automobile, commercial automobile and homeowners lines of business. Their revenues primarily consist of commission income received from property and casualty insurers. The primary performance obligation of AIS and Poliseek in return for the commission income from the insurers is to complete the sale of the policy and deliver the control of the policy to the insurer prior to the policy effective date. The total revenue from the sale of a policy is recognized when the sale is complete and the policy is effective as all the material aspects of the performance obligation are satisfied and the insurer is deemed to obtain control of the insurance policy at that time. The commission income is constrained such that the revenue is recognized only to the extent that the commission income received is not likely to be returned to the insurers due to policy cancellations. Any commission income not received when the sale is complete is recognized as commission income receivable, which is included in other receivables in the Company's consolidated balance sheets. Commission income receivable at December 31, 2019 and 2018 was approximately $1.2 million .
Recently Issued Accounting Standards	Recently Issued Accounting Standards In August 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2018-15, " Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40), Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract ." ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software under Subtopic 350-40. This ASU also requires an entity to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement and present such expense in the same line item in the statement of income as the fees associated with the hosting element (service) of the arrangement and classify payments for capitalized implementation costs in the statement of cash flows in the same manner as payments made for fees associated with the hosting element. The entity is also required to present the capitalized implementation costs in the statement of financial position in the same line item that a prepayment for the fees of the associated hosting arrangement would be presented. ASU 2018-15 became effective for the Company on January 1, 2020 and did not have any material impact on its consolidated financial statements and related disclosures. In August 2018, the FASB issued ASU 2018-13, " Fair Value Measurement (Topic 820), Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement ." The amendments in this ASU require certain existing disclosure requirements in Topic 820 to be modified or removed, and certain new disclosure requirements to be added to the Topic. In addition, this ASU allows entities to exercise more discretion when considering fair value measurement disclosures. ASU 2018-13 became effective for the Company on January 1, 2020 and did not have any material impact on its consolidated financial statements and related disclosures. In January 2017, the FASB issued ASU 2017-04, " Intangibles - Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment. " ASU 2017-04 removes the requirement to compare the implied fair value of goodwill with its carrying amount as part of Step 2 of the goodwill impairment test and requires an entity to recognize an impairment charge for the amount by which the carrying amount of a reporting unit exceeds its fair value. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. ASU 2017-04 became effective for the Company on January 1, 2020 and did not have any material impact on its consolidated financial statements and related disclosures. In June 2016, the FASB issued ASU 2016-13, " Financial Instruments - Credit Losses (Topic 326). " The amendments in this ASU replace the "incurred loss" methodology for recognizing credit losses with a methodology that reflects expected credit losses and requires consideration of a broader range of information including past events, current conditions and reasonable and supportable forecasts that affect the collectibility of reported amounts of financial assets that are not accounted for at fair value through net income, such as loans, certain debt securities, trade receivables, net investment in leases, off-balance sheet credit exposures and reinsurance recoverables. Under the current GAAP incurred loss methodology, recognition of the full amount of credit losses is generally delayed until the loss is probable of occurring. Current GAAP restricts the ability to record credit losses that are expected, but do not yet meet the probability threshold. Subsequently, the FASB has issued an additional ASUs on Topic 326 that do not change the core principle of the guidance in ASU 2016-13 but clarify or certain aspects of it. ASU 2016-13 and the additional ASUs on Topic 326 became effective for the Company on January 1, 2020. The Company adopted this ASU using a modified retrospective transition method by recognizing the cumulative-effect adjustment of approximately $ 2 million to retained earnings at January 1, 2020. The cumulative-effect adjustment primarily resulted from reestimating credit losses on the outstanding balances of the Company's reinsurance recoverables and premiums receivables at the adoption date of the new standard. The Company will make the required disclosures under Topic 326, starting with its consolidated financial statements that include the initial adoption date.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Summary of Deferred Policy Acquisition Cost Amortization and Net Advertising Expense	The table below presents a summary of deferred policy acquisition cost amortization and net advertising expense: Year Ended December 31, 2019 2018 2017 (Amounts in millions) Deferred policy acquisition cost amortization $ 602.1 $ 572.2 $ 555.4 Net advertising expense 42.2 40.9 37.4

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2019
Financial Instruments, Owned, at Fair Value [Abstract]
Estimated Fair Values of Financial Instruments	The following table presents the fair values of financial instruments: December 31, 2019 2018 (Amounts in thousands) Assets Investments $ 4,312,161 $ 3,768,091 Note receivable 5,665 5,557 Liabilities Total return swaps — 4,851 Options sold 77 3 Unsecured notes 394,279 362,674

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2019
Investments [Abstract]
Gains And Losses Due To Changes In Fair Value	The following table presents gains (losses) due to changes in fair value of investments that are measured at fair value pursuant to application of the fair value option: Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Fixed maturity securities $ 104,379 $ (53,927 ) $ 50,403 Equity securities 90,920 (77,494 ) 37,486 Short-term investments 1,295 (1,237 ) 38 Total gains (losses) $ 196,594 $ (132,658 ) $ 87,927
Gross Gains And Losses Realized On Sales Of Investments	The following table presents gross gains (losses) realized on the sales of investments: Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Gross Realized Gains Gross Realized Losses Net Gross Realized Gains Gross Realized Losses Net Gross Realized Gains Gross Realized Losses Net Fixed maturity securities $ 2,413 $ (1,066 ) $ 1,347 $ 549 $ (3,563 ) $ (3,014 ) $ 604 $ (2,701 ) $ (2,097 ) Equity securities 47,411 (28,089 ) 19,322 43,420 (45,607 ) (2,187 ) 20,835 (23,048 ) (2,213 ) Short-term investments 177 (2,133 ) (1,956 ) 61 (2,429 ) (2,368 ) 21 (20 ) 1
Estimated Fair Values Of Investments	The following table presents the estimated fair values of the Company's fixed maturity securities at December 31, 2019 by contractual maturity. 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. Estimated Fair Value (Amounts in thousands) Fixed maturity securities: Due in one year or less $ 105,929 Due after one year through five years 548,638 Due after five years through ten years 287,005 Due after ten years 2,151,703 Total $ 3,093,275
Investment Income	The following table presents a summary of net investment income: Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Fixed maturity securities $ 102,254 $ 102,198 $ 102,790 Equity securities 32,233 30,496 18,554 Short-term investments 12,381 8,789 8,753 Total investment income $ 146,868 $ 141,483 $ 130,097 Less: investment expense (5,605 ) (5,645 ) (5,167 ) Net investment income $ 141,263 $ 135,838 $ 124,930

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2019
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Valuation Techniques	The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis, and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair values: December 31, 2019 Level 1 Level 2 Level 3 Total (Amounts in thousands) Assets Fixed maturity securities: U.S. government bonds $ 22,637 $ — $ — $ 22,637 Municipal securities — 2,554,208 — 2,554,208 Mortgage-backed securities — 63,003 — 63,003 Corporate securities — 235,565 — 235,565 Collateralized loan obligations — 199,217 — 199,217 Other asset-backed securities — 18,645 — 18,645 Total fixed maturity securities 22,637 3,070,638 — 3,093,275 Equity securities: Common stock 586,367 — — 586,367 Non-redeemable preferred stock — 49,708 — 49,708 Private equity fund — — 1,203 1,203 Private equity funds measured at net asset value (1) 87,473 Total equity securities 586,367 49,708 1,203 724,751 Short-term investments: Short-term bonds 2,822 30,080 — 32,902 Money market instruments 461,233 — — 461,233 Total short-term investments 464,055 30,080 — 494,135 Other assets: Note receivable — 5,665 — 5,665 Total assets at fair value $ 1,073,059 $ 3,156,091 $ 1,203 $ 4,317,826 Liabilities Other liabilities: Options sold 77 — — 77 Total liabilities at fair value $ 77 $ — $ — $ 77 December 31, 2018 Level 1 Level 2 Level 3 Total (Amounts in thousands) Assets Fixed maturity securities: U.S. government bonds $ 25,003 $ — $ — $ 25,003 Municipal securities — 2,620,132 — 2,620,132 Mortgage-backed securities — 30,952 — 30,952 Corporate securities — 105,524 — 105,524 Collateralized debt obligations — 165,789 — 165,789 Other asset-backed securities — 37,761 — 37,761 Total fixed maturity securities 25,003 2,960,158 — 2,985,161 Equity securities: Common stock 430,973 — — 430,973 Non-redeemable preferred stock — 31,433 — 31,433 Private equity fund — — 1,445 1,445 Private equity fund measured at net asset value (1) 65,780 Total equity securities 430,973 31,433 1,445 529,631 Short-term investments: Short-term bonds 31,472 16,784 — 48,256 Money market instruments 205,043 — — 205,043 Total short-term investments 236,515 16,784 — 253,299 Other assets: Note receivable — 5,557 — 5,557 Total assets at fair value $ 692,491 $ 3,013,932 $ 1,445 $ 3,773,648 Liabilities Other liabilities: Total return swaps $ — $ 4,851 $ — $ 4,851 Options sold 3 — — 3 Total liabilities at fair value $ 3 $ 4,851 $ — $ 4,854 __________ (1) The fair value is measured using the NAV practical expedient; therefore, it is not categorized within the fair value hierarchy. The fair value amount is presented in this table to permit reconciliation of the fair value hierarchy to the amounts presented in the Company's consolidated balance sheets.
Summary Of Changes In Fair Value Of Level 3 Financial Assets And Financial Liabilities Held At Fair Value	The following table presents a summary of changes in fair value of Level 3 financial assets: Private Equity Fund Year Ended December 31, 2019 2018 (Amounts in thousands) Beginning balance $ 1,445 $ 1,481 Net realized gains (losses) included in earnings 101 (36 ) Settlements (343 ) — Ending balance $ 1,203 $ 1,445 The amount of total gains (losses) for the period included in earnings attributable to assets still held at December 31 $ 93 $ (36 )
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	The following tables present the carrying value and fair value of the Company’s financial instruments disclosed, but not carried, at fair value, and the level within the fair value hierarchy at which such instruments are categorized: December 31, 2019 Carrying Value Fair Value Level 1 Level 2 Level 3 (Amounts in thousands) Liabilities Notes payable: Unsecured notes $ 372,133 $ 394,279 $ — $ 394,279 $ — December 31, 2018 Carrying Value Fair Value Level 1 Level 2 Level 3 (Amounts in thousands) Liabilities Notes payable: Unsecured notes $ 371,734 $ 362,674 $ — $ 362,674 $ —

Fixed Assets (Tables)

Fixed Assets (Tables)	12 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Schedule Of Fixed Assets	The following table presents the components of fixed assets: December 31, 2019 2018 (Amounts in thousands) Land $ 18,152 $ 18,144 Buildings and improvements 140,567 138,238 Furniture and equipment 70,355 123,021 Capitalized software 244,425 222,903 Leasehold improvements 7,547 9,986 481,046 512,292 Less: accumulated depreciation and amortization (312,060 ) (359,269 ) Fixed assets, net $ 168,986 $ 153,023

Deferred Policy Acquisition C_2

Deferred Policy Acquisition Costs (Tables)	12 Months Ended
	Dec. 31, 2019
Deferred Policy Acquisition Costs Disclosures [Abstract]
Schedule Of Deferred Policy Acquisition Costs	Deferred policy acquisition costs were as follows: December 31, 2019 2018 2017 (Amounts in thousands) Balance, beginning of year $ 215,131 $ 198,151 $ 200,826 Policy acquisition costs deferred 620,120 589,144 552,675 Amortization (602,085 ) (572,164 ) (555,350 ) Balance, end of year $ 233,166 $ 215,131 $ 198,151

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Lease, Cost	Weighted-average lease term and discount rate were as follows: December 31, 2019 Weighted-average remaining lease term (in years): Operating leases 4.4 Weighted-average discount rate: Operating leases 3.02 % Supplemental cash flow and other information related to leases was as follows: Year Ended December 31, 2019 (Amounts in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 14,289 ROU assets obtained in exchange for lease liabilities: Operating leases 15,372 The components of lease expense were as follows: Year Ended Lease Cost Classification December 31, 2019 (Amounts in thousands) Operating lease cost (1) Other operating expenses $ 15,146 Variable lease cost (1) Other operating expenses 2,196 Total lease cost $ 17,342 __________ (1) Includes short-term leases, which are immaterial.
Assets And Liabilities, Lease	Supplemental balance sheet information related to leases was as follows: December 31, 2019 (Amounts in thousands) Operating lease ROU assets $ 44,909 Operating lease liabilities 47,996
Lessee, Operating Lease, Liability, Maturity	Maturities of lease liabilities as of December 31, 2019 were as follows: Year Operating Leases (Amounts in thousands) 2020 14,458 2021 12,259 2022 9,910 2023 6,439 2024 3,533 2025 and thereafter $ 4,744 Total lease payments $ 51,343 Less: Imputed interest 3,347 Total lease obligations $ 47,996
Schedule of Future Minimum Rental Payments for Operating Leases	The following table presents future minimum commitments for operating leases as of December 31, 2018 : Year Ending December 31, Operating Leases (Amounts in thousands) 2019 $ 12,812 2020 11,547 2021 8,732 2022 6,972 2023 3,659 Thereafter 1,966 December 31, 2019 .

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Payable [Abstract]
Schedule of Long-term Debt Instruments	The following table presents information about the Company's notes payable: December 31, Lender Interest Rate Expiration 2019 2018 (Amounts in thousands) Senior unsecured notes (1) Publicly traded 4.40% March 15, 2027 $ 375,000 $ 375,000 Unsecured credit facility (2) Bank of America and Wells Fargo Bank LIBOR plus 112.5-162.5 basis points March 29, 2022 — — Total principal amount 375,000 375,000 Less unamortized discount and debt issuance costs (3) 2,867 3,266 Total $ 372,133 $ 371,734 __________ (1) On March 8, 2017, the Company completed a public debt offering issuing $375 million of senior notes. The notes are unsecured senior obligations of the Company, with a 4.4% annual coupon payable on March 15 and September 15 of each year commencing September 15, 2017. These notes mature on March 15, 2027. The Company used the proceeds from the notes to pay off the total outstanding balance of $320 million under the existing loan and credit facility agreements and terminated the agreements on March 8, 2017. The remainder of the proceeds from the notes was used for general corporate purposes. The Company incurred debt issuance costs of approximately $3.4 million , inclusive of underwriters' fees. The notes were issued at a slight discount of 99.847% of par, resulting in the effective annualized interest rate, including debt issuance costs, of approximately 4.45% . (2) On March 29, 2017, the Company entered into an unsecured credit agreement that provides for revolving loans of up to $50 million and matures on March 29, 2022. The interest rates on borrowings under the credit facility are based on the Company's debt to total capital ratio and range from LIBOR plus 112.5 basis points when the ratio is under 15% to LIBOR plus 162.5 basis points when the ratio is greater than or equal to 25%. Commitment fees for the undrawn portions of the credit facility range from 12.5 basis points when the ratio is under 15% to 22.5 basis points when the ratio is greater than or equal to 25%. The debt to total capital ratio is expressed as a percentage of (a) consolidated debt to (b) consolidated shareholders' equity plus consolidated debt. The Company's debt to total capital ratio was 17.2% at December 31, 2019 , resulting in a 15 basis point commitment fee on the $50 million undrawn portion of the credit facility. As of February 6, 2020 , there have been no borrowings under this facility. (3) The unamortized discount and debt issuance costs are associated with the publicly traded $375 million senior unsecured notes. These are amortized to interest expense over the life of the notes, and the unamortized balance is presented in the Company's consolidated balance sheets as a direct deduction from the carrying amount of the debt. The unamortized debt issuance costs of approximately $0.1 million associated with the $50 million five -year unsecured revolving credit facility maturing on March 29, 2022 are included in other assets in the Company's consolidated balance sheets and amortized to interest expense over the term of the credit facility.
Schedule of Maturities of Long-term Debt	Debt maturities for each of the next five years and thereafter as of December 31, 2019 are as follows: Maturity Amounts (in thousands) 2020 $ — 2021 — 2022 — 2023 — 2024 — Thereafter 375,000 Total $ 375,000

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2019
General Discussion of Derivative Instruments and Hedging Activities [Abstract]
Summary Of Location And Amounts Of Derivative Fair Values In The Consolidated Balance Sheets	The following tables present the location and amounts of derivative fair values in the consolidated balance sheets and derivative gains or losses in the consolidated statements of operations: Liability Derivatives December 31, 2019 December 31, 2018 (Amounts in thousands) Options sold - Other liabilities $ 77 $ 3 Total return swaps - Other liabilities — 4,851 Total derivatives $ 77 $ 4,854
Schedule Of Derivative Gains And Losses In The Consolidated Statements Of Operations	Gains (Losses) Recognized in Income Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Total return swaps - Net realized investment gains (losses) $ 1,039 $ (3,783 ) $ (2,137 ) Options sold - Net realized investment gains (losses) 6,339 10,498 2,291 Total $ 7,378 $ 6,715 $ 154

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule Of Components Of Other Intangible Assets	The following table presents the components of other intangible assets: Gross Carrying Amount Accumulated Amortization Net Carrying Amount Useful Lives (Amounts in thousands) (in years) As of December 31, 2019 Customer relationships $ 53,213 $ (52,319 ) $ 894 11 Trade names 15,400 (7,058 ) 8,342 24 Technology 4,300 (4,300 ) — 10 Insurance license 1,400 — 1,400 Indefinite Total intangible assets, net $ 74,313 $ (63,677 ) $ 10,636 As of December 31, 2018 Customer relationships $ 53,048 $ (47,897 ) $ 5,151 11 Trade names 15,400 (6,417 ) 8,983 24 Technology 4,300 (4,300 ) — 10 Insurance license 1,400 — 1,400 Indefinite Total intangible assets, net $ 74,148 $ (58,614 ) $ 15,534
Schedule Of Estimated Future Amortization Expense Related To Intangible Assets	The following table presents the estimated future amortization expense related to other intangible assets as of December 31, 2019 : Year Ending December 31, Amortization Expense (Amounts in thousands) 2020 $ 922 2021 902 2022 878 2023 714 2024 686 Thereafter 5,134 Total $ 9,236

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]
Components Of Income Tax Expense	The income tax expense (benefit) consisted of the following components: Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Federal Current $ 18,109 $ 14,190 $ 10,898 Deferred 40,413 (39,244 ) 10,934 $ 58,522 $ (25,054 ) $ 21,832 State Current $ (1,430 ) $ 1,982 $ 955 Deferred 890 (1,815 ) (579 ) $ (540 ) $ 167 $ 376 Total Current $ 16,679 $ 16,172 $ 11,853 Deferred 41,303 (41,059 ) 10,355 Total $ 57,982 $ (24,887 ) $ 22,208
Reconciliation Of Income Taxes	he following table presents a reconciliation of the tax expense (benefit) based on the statutory rate to the Company's actual tax expense (benefit) in the consolidated statements of operations: Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Computed tax expense (benefit) at 21% for 2019 and 2018 and 35% for 2017 $ 79,394 $ (6,429 ) $ 58,480 Tax-exempt interest income (12,909 ) (13,507 ) (26,038 ) Dividends received deduction (1,276 ) (1,082 ) (2,296 ) State tax (benefit) expense (869 ) 439 158 Nondeductible expenses 526 390 348 Change in federal tax contingency reserve (2,588 ) — — Cumulative impact from change in federal tax rate — — (11,449 ) (Reversal in 2018) reduction of AMT credit carryforward due to sequestration in 2017 — (4,088 ) 4,088 Other, net (4,296 ) (610 ) (1,083 ) Income tax expense (benefit) $ 57,982 $ (24,887 ) $ 22,208
Deferred Tax Assets And Liabilities	The following table presents the significant components of the Company’s net deferred tax assets and liabilities: December 31, 2019 2018 (Amounts in thousands) Deferred tax assets: 20% of net unearned premiums $ 58,448 $ 52,644 Discounting of loss reserves and salvage and subrogation recoverable for tax purposes 12,769 9,245 Write-down of impaired investments 314 356 Expense accruals 8,099 7,019 Tax asset on net unrealized loss on securities carried at fair value — 1,055 Other deferred tax assets 3,348 3,257 Total gross deferred tax assets 82,978 73,576 Deferred tax liabilities: Deferred policy acquisition costs (48,964 ) (45,178 ) Tax liability on net unrealized gain on securities carried at fair value (41,273 ) — Tax depreciation in excess of book depreciation (8,105 ) (4,594 ) Undistributed earnings of insurance subsidiaries (2,855 ) (3,017 ) Tax amortization in excess of book amortization (3,264 ) (2,729 ) Other deferred tax liabilities (6,481 ) (4,719 ) Total gross deferred tax liabilities (110,942 ) (60,237 ) Net deferred tax (liabilities) assets $ (27,964 ) $ 13,339
Summary Of Unrecognized Tax Benefits	The following table presents a reconciliation of the beginning and ending balances of unrecognized tax benefits: December 31, 2019 2018 (Amounts in thousands) Balance at January 1 $ 10,615 $ 9,674 Additions (reductions) based on tax positions related to: Current year — 662 Prior years (4,564 ) 279 Balance at December 31 $ 6,051 $ 10,615

Loss And Loss Adjustment Expe_2

Loss And Loss Adjustment Expense Reserves (Tables)	12 Months Ended
	Dec. 31, 2019
Insurance Loss Reserves [Abstract]
Activity In The Reserves For Losses And Loss Adjustment Expenses	The following table presents the activity in loss and loss adjustment expense reserves: Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Gross reserves at January 1 $ 1,829,412 $ 1,510,613 $ 1,290,248 Less reinsurance recoverables on unpaid losses (180,859 ) (64,001 ) (13,161 ) Net reserves at January 1 1,648,553 1,446,612 1,277,087 Incurred losses and loss adjustment expenses related to: Current year 2,696,230 2,483,693 2,390,453 Prior years 9,794 93,096 54,431 Total incurred losses and loss adjustment expenses 2,706,024 2,576,789 2,444,884 Loss and loss adjustment expense payments related to: Current year 1,651,550 1,543,828 1,550,789 Prior years 857,872 831,020 724,570 Total payments 2,509,422 2,374,848 2,275,359 Net reserves at December 31 1,845,155 1,648,553 1,446,612 Reinsurance recoverables on unpaid losses 76,100 180,859 64,001 Gross reserves at December 31 $ 1,921,255 $ 1,829,412 $ 1,510,613
Incurred and Paid Claims Development	The information about incurred and paid claims development for the years ended December 31, 2010 to 2018 is presented as unaudited supplementary information. Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance (Automobile Insurance) As of December 31, 2019 Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims Cumulative Number of Reported Claims Accident Year For the Years Ended December 31, 2010 (1) 2011 (1) 2012 (1) 2013 (1) 2014 (1) 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (Amounts in thousands) (Amounts in thousands) 2010 $ 1,367,547 $ 1,357,750 $ 1,364,307 $ 1,374,638 $ 1,379,336 $ 1,381,056 $ 1,386,105 $ 1,388,077 $ 1,388,055 $ 1,388,086 $ 43 184 2011 1,343,919 1,367,000 1,380,557 1,388,363 1,393,878 1,398,518 1,405,112 1,401,178 1,401,151 73 181 2012 1,424,754 1,408,222 1,409,104 1,414,878 1,426,735 1,436,034 1,438,250 1,439,660 493 181 2013 1,448,567 1,431,058 1,447,881 1,458,421 1,464,071 1,468,294 1,468,237 1,149 185 2014 1,467,175 1,454,366 1,473,545 1,486,322 1,498,504 1,501,075 3,469 180 2015 1,551,105 1,588,443 1,610,839 1,634,435 1,645,950 9,132 170 2016 1,672,853 1,669,642 1,713,696 1,731,997 22,097 154 2017 1,703,857 1,727,277 1,741,825 58,648 149 2018 1,781,817 1,773,502 139,022 146 2019 1,916,269 438,858 140 Total $ 16,007,752 __________ (1) The information for the years 2010 to 2018 is presented as unaudited supplemental information. Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance (Automobile Insurance) For the Years Ended December 31, Accident Year 2010 (1) 2011 (1) 2012 (1) 2013 (1) 2014 (1) 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (Amounts in thousands) 2010 $ 908,954 $ 1,143,984 $ 1,268,142 $ 1,335,871 $ 1,365,464 $ 1,375,799 $ 1,384,333 $ 1,387,835 $ 1,388,140 $ 1,388,322 2011 926,983 1,152,459 1,277,808 1,347,082 1,378,920 1,391,101 1,394,684 1,400,441 1,400,958 2012 955,647 1,194,648 1,304,511 1,372,828 1,409,911 1,422,705 1,434,956 1,438,686 2013 974,445 1,217,906 1,340,724 1,413,999 1,447,004 1,460,352 1,464,277 2014 967,481 1,231,413 1,358,472 1,432,472 1,476,944 1,490,366 2015 1,040,253 1,336,223 1,466,368 1,560,480 1,614,188 2016 1,094,006 1,395,199 1,554,217 1,656,192 2017 1,076,079 1,399,202 1,561,850 2018 1,082,127 1,417,637 2019 1,134,859 Total $ 14,567,335 All outstanding liabilities before 2010, net of reinsurance (557 ) Loss and allocated loss adjustment expense reserves, net of reinsurance $ 1,439,861 __________ (1) The information for the years 2010 to 2018 is presented as unaudited supplemental information. Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance (Homeowners' Insurance) As of December 31, 2019 Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims Cumulative Number of Reported Claims Accident Year For the Years Ended December 31, 2010 (1) 2011 (1) 2012 (1) 2013 (1) 2014 (1) 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (Amounts in thousands) (Amounts in thousands) 2010 $ 165,727 $ 157,566 $ 160,983 $ 160,472 $ 160,206 $ 160,015 $ 159,608 $ 159,662 $ 159,720 $ 159,652 $ 1 21 2011 167,414 170,623 170,052 169,600 169,390 169,621 170,126 170,334 170,174 75 23 2012 196,063 188,010 190,376 191,548 192,057 191,804 192,905 192,790 6 25 2013 191,903 188,915 188,026 186,795 187,165 188,014 187,147 42 23 2014 199,298 202,621 203,218 202,513 204,986 208,003 3,259 25 2015 234,800 234,881 233,501 236,855 238,652 1,978 24 2016 250,691 259,489 259,497 259,708 2,092 24 2017 309,491 295,163 288,322 4,310 30 2018 311,798 308,361 15,686 25 2019 359,643 64,136 28 Total $ 2,372,452 __________ (1) The information for the years 2010 to 2018 is presented as unaudited supplemental information. Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance (Homeowners' Insurance) For the Years Ended December 31, Accident Year 2010 (1) 2011 (1) 2012 (1) 2013 (1) 2014 (1) 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (Amounts in thousands) 2010 $ 95,057 $ 137,628 $ 149,084 $ 155,191 $ 156,853 $ 158,053 $ 158,943 $ 159,268 $ 159,435 $ 159,491 2011 111,909 153,845 162,870 166,375 167,806 168,621 168,914 169,757 169,899 2012 128,618 175,029 182,756 188,121 190,373 190,649 191,660 192,362 2013 133,528 174,295 180,858 183,860 185,168 186,132 186,494 2014 139,615 186,996 194,605 198,758 202,193 203,333 2015 163,196 213,994 224,178 230,480 234,683 2016 173,537 234,215 245,878 253,919 2017 217,900 269,254 278,341 2018 213,038 271,534 2019 240,240 Total $ 2,190,296 All outstanding liabilities before 2010, net of reinsurance 576 Loss and allocated loss adjustment expense reserves, net of reinsurance $ 182,731 __________ (1) The information for the years 2010 to 2018 is presented as unaudited supplemental information.
Schedule of Historical Claims Duration	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 Years 1 2 3 4 5 6 7 8 9 10 Automobile insurance 63.6 % 17.4 % 8.6 % 5.2 % 2.6 % 0.9 % 0.5 % 0.3 % 0.9 % — % Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance Years 1 2 3 4 5 6 7 8 9 10 Homeowners insurance 67.6 % 22.4 % 4.4 % 2.6 % 1.2 % 0.5 % 0.4 % 0.4 % 0.5 % — %
Reconciliation of the Disclosure of Incurred and Paid Claims Development to the Loss and Loss Adjustment Expense Reserves	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 Loss and Loss Adjustment Expense Reserves December 31, 2019 (Amounts in thousands) Net outstanding liabilities Automobile insurance $ 1,439,861 Homeowners' insurance 182,731 WAIC automobile insurance 16,576 Other short-duration insurance lines 106,002 Loss and loss adjustment expense reserves, net of reinsurance recoverables on unpaid losses 1,745,170 Reinsurance recoverables on unpaid losses Automobile insurance 22,060 Homeowners' insurance 52,317 Other short-duration insurance lines 1,723 Total reinsurance recoverables on unpaid losses 76,100 Insurance lines other than short-duration 629 Unallocated claims adjustment expenses 99,356 99,985 Total gross loss and loss adjustment expense reserves $ 1,921,255

Dividends (Tables)

Dividends (Tables)	12 Months Ended
	Dec. 31, 2019
Dividends [Abstract]
Dividends Paid In Total And Per Share	The following table presents shareholder dividends paid: Year Ended December 31, 2019 2018 2017 (Amounts in thousands, except per share data) Total paid $ 139,071 $ 138,478 $ 137,886 Per share paid $ 2.5125 $ 2.5025 $ 2.4925

Statutory Balances and Accoun_2

Statutory Balances and Accounting Practices (Tables)	12 Months Ended
	Dec. 31, 2019
Statutory Balances And Accounting Practices [Abstract]
Schedule Of Statutory Net Income And Capital And Surplus	The following table presents the statutory net income, and statutory capital and surplus of the Insurance Companies, as reported to regulatory authorities: Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Statutory net income (1) $ 135,670 $ 81,935 $ 117,376 Statutory capital and surplus $ 1,539,998 $ 1,471,547 $ 1,589,226 __________ (1) Statutory net income reflects differences from GAAP net income, including changes in the fair value of the investment portfolio as a result of the application of the fair value option.

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Cash Proceeds Received from Share-based Payment Awards	The following table presents a summary of cash received, compensation costs recognized and excess tax expense (benefit), related to the Company's share-based awards: Year Ended December 31, 2019 2018 2017 (Amounts in thousands) Cash received from stock option exercises $ 701 $ 358 $ 2,162 Compensation cost, all share-based awards 123 145 60 Excess tax (benefit) expense, all share-based awards (7 ) 4 8
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The following table provides the assumptions used in the calculation of grant-date fair values of these stock options based on the Black-Scholes option pricing model: Weighted-average grant-date fair value $ 8.09 Expected volatility 33.18 % Risk-free interest rate 2.62 % Expected dividend yield 5.40 % Expected term in months 72
Summary of Stock Option Activity	The following table presents a summary of the stock option activity for the year ended December 31, 2019 : Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (in 000’s) Outstanding at January 1, 2019 99,500 $ 42.77 Exercised (22,000 ) $ 41.92 Canceled or expired (10,000 ) $ 43.01 Outstanding at December 31, 2019 67,500 $ 43.01 8.1 $ 376 Exercisable at December 31, 2019 15,000 $ 43.01 8.1 $ 84
Schedule of Options Authorized under Stock Option Plans, by Exercise Price Range	The following table presents information regarding stock options outstanding at December 31, 2019 : Options Outstanding Options Exercisable Range of Exercise Prices Number of Options Weighted-Average Remaining Contractual Life (Years) Weighted- Average Exercise Price Number of Options Weighted- Average Exercise Price $43.01 67,500 8.1 $ 43.01 15,000 $ 43.01
Summary of Vested And Unvested RSU	The following table presents a summary of RSU awards activity, based on target vesting, during the years indicated: Year Ended December 31, 2019 2018 2017 Shares Weighted- Average Fair Value per Share Shares Weighted- Average Fair Value per Share Shares Weighted- Average Fair Value per Share Outstanding at January 1 75,250 $ 53.49 169,000 $ 53.66 271,000 $ 51.09 Vested — $ — — $ — (82,000 ) $ 45.17 Forfeited/Canceled (6,000 ) $ 53.49 (8,000 ) $ 53.49 (20,000 ) $ 53.62 Expired (69,250 ) $ 53.49 (85,750 ) $ 53.80 — $ — Outstanding at December 31 — $ — 75,250 $ 53.49 169,000 $ 53.66

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2019
Earnings Per Share Reconciliation [Abstract]
Reconciliation Of Numerators And Denominators Of Basic And Diluted Earnings Per Share	The following table presents a reconciliation of the numerators and denominators of the basic and diluted earnings per share calculations: Year Ended December 31, 2019 2018 2017 Income (Numerator) Weighted Shares (Denominator) Per-Share Amount Loss (Numerator) Weighted Shares (Denominator) Per-Share Amount Income (Numerator) Weighted Shares (Denominator) Per-Share Amount (Amounts and numbers in thousands, except per-share data) Basic EPS Income (loss) available to common stockholders $ 320,087 55,351 $ 5.78 $ (5,728 ) 55,335 $ (0.10 ) $ 144,877 55,316 $ 2.62 Effect of dilutive securities: Options — 9 — — — 11 Diluted EPS Income (loss) available to common stockholders after assumed conversions $ 320,087 55,360 $ 5.78 $ (5,728 ) 55,335 $ (0.10 ) $ 144,877 55,327 $ 2.62

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Future Minimum Commitments For Operating Leases	The following table presents future minimum commitments for operating leases as of December 31, 2018 : Year Ending December 31, Operating Leases (Amounts in thousands) 2019 $ 12,812 2020 11,547 2021 8,732 2022 6,972 2023 3,659 Thereafter 1,966 December 31, 2019 .

Quarterly Financial Informati_2

Quarterly Financial Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Data [Abstract]
Summary Of Quarterly Financial Data	The following table presents summarized quarterly financial data for 2019 and 2018 : Quarter Ended March 31 June 30 September 30 December 31 (Amounts in thousands, except per share data) 2019 Net premiums earned $ 870,245 $ 888,776 $ 915,012 $ 925,384 Change in fair value of financial instruments pursuant to the fair value option 104,227 50,281 24,021 18,173 Income before income taxes 167,169 101,595 80,840 28,465 Net income 135,867 83,250 69,282 31,688 Basic earnings per share 2.46 1.50 1.25 0.57 Diluted earnings per share 2.45 1.50 1.25 0.57 Dividends paid per share 0.6275 0.6275 0.6275 0.6300 2018 Net premiums earned $ 808,084 $ 833,959 $ 858,135 $ 868,233 Change in fair value of financial instruments pursuant to the fair value option (58,532 ) 8,793 (12,907 ) (70,020 ) (Loss) income before income taxes (59,699 ) 73,246 70,286 (114,448 ) Net (loss) income (42,607 ) 60,180 58,578 (81,879 ) Basic (loss) earnings per share (0.77 ) 1.09 1.06 (1.48 ) Diluted (loss) earnings per share (0.77 ) 1.09 1.06 (1.48 ) Dividends paid per share 0.6250 0.6250 0.6250 0.6275

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Reconciliation of operating results by reportable segment	The following table presents operating results by reportable segment for the years ended: Year Ended December 31, 2019 2018 2017 Property & Casualty Other Total Property & Casualty Other Total Property & Casualty Other Total (Amounts in millions) Net premiums earned $ 3,571.0 $ 28.4 $ 3,599.4 $ 3,337.9 $ 30.5 $ 3,368.4 $ 3,160.9 $ 34.5 $ 3,195.4 Less: Losses and loss adjustment expenses 2,692.7 13.3 2,706.0 2,562.0 14.8 2,576.8 2,427.8 17.1 2,444.9 Underwriting expenses 857.3 14.1 871.4 802.7 14.1 816.8 773.1 15.6 788.7 Underwriting gain (loss) 21.0 1.0 22.0 (26.8 ) 1.6 (25.2 ) (40.0 ) 1.8 (38.2 ) Investment income 141.3 135.8 124.9 Net realized investment gains (losses) 222.8 (133.5 ) 83.7 Other income 9.0 9.3 11.9 Interest expense (17.0 ) (17.0 ) (15.2 ) Pre-tax income (loss) $ 378.1 $ (30.6 ) $ 167.1 Net income (loss) $ 320.1 $ (5.7 ) $ 144.9
Schedule direct premiums attributable to segment	The following table presents the Company’s net premiums earned and direct premiums written by line of insurance business for the years ended: Year Ended December 31, 2019 2018 2017 Property & Casualty Other Total Property & Casualty Other Total Property & Casualty Other Total (Amounts in millions) Private passenger automobile $ 2,756.5 $ — $ 2,756.5 $ 2,602.1 $ — $ 2,602.1 $ 2,473.8 $ — $ 2,473.8 Homeowners 514.8 — 514.8 459.4 — 459.4 431.6 — 431.6 Commercial automobile 208.7 — 208.7 190.1 — 190.1 171.9 — 171.9 Other 91.0 28.4 119.4 86.3 30.5 116.8 83.6 34.5 118.1 Net premiums earned $ 3,571.0 $ 28.4 $ 3,599.4 $ 3,337.9 $ 30.5 $ 3,368.4 $ 3,160.9 $ 34.5 $ 3,195.4 Private passenger automobile $ 2,820.5 $ — $ 2,820.5 $ 2,703.6 $ — $ 2,703.6 $ 2,480.0 $ — $ 2,480.0 Homeowners 598.5 — 598.5 524.9 — 524.9 469.9 — 469.9 Commercial automobile 217.3 — 217.3 198.5 — 198.5 178.2 — 178.2 Other 106.3 32.0 138.3 97.2 26.7 123.9 92.9 27.9 120.8 Direct premiums written $ 3,742.6 $ 32.0 $ 3,774.6 $ 3,524.2 $ 26.7 $ 3,550.9 $ 3,221.0 $ 27.9 $ 3,248.9

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Narrative) (Details)	12 Months Ended
	Dec. 31, 2019USD ($)StateSubsidiary	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Jan. 01, 2020USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of insurance companies | Subsidiary	14
Number of states in which company operates | State	11
Percentage of direct premiums written as private passenger automobile lines of insurance	74.00%
Percentage of private passenger automobile premiums written in California	88.00%	87.00%	85.00%
Percentage by which dividend income on non redeemable preferred stock, partnership, common stock is partially tax-sheltered	50.00%
Insurance companies security deposits	$ 16,000,000	$ 15,000,000
Impairment charges	0		$ 0
Goodwill impairment loss	0
Premiums written, net	3,730,000,000	3,500,000,000	3,220,000,000
Reinsurance policy, coverage per occurrence after retention limit	600,000,000
Reinsurance policy, retention limit	40,000,000
Ceded premiums	56,725,000	48,941,000	26,881,000
Losses and loss adjustment expenses, ceded	$ (71,000,000)	257,000,000	$ 90,000,000
Vesting term	4 years
Revenue from contract with customer	$ 16,300,000	$ 16,000,000
Percentage of revenue	0.40%	0.50%
Cost of goods and services sold	$ 10,500,000	$ 10,500,000
Commission income receivable	1,200,000	1,200,000
Refund liability	$ 700,000	$ 700,000,000
Building [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Useful life, in years	30 years
Building [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Useful life, in years	40 years
Furniture Equipment And Purchase Software [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Useful life, in years	3 years
Furniture Equipment And Purchase Software [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Useful life, in years	7 years
Software [Member]
Summary Of Significant Accounting Policies [Line Items]
Useful life, in years	7 years
Subsequent Event [Member] | Retained Earnings [Member] | Accounting Standards Update 2016-13 [Member]
Summary Of Significant Accounting Policies [Line Items]
Cumulative-effect adjustment				$ 2,000,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Deferred Policy Acquisition Cost Amortization and Net Advertising Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Deferred policy acquisition cost amortization	$ 602,085	$ 572,164	$ 555,350
Net advertising expense	$ 42,200	$ 40,900	$ 37,400

Financial Instruments (Estimate

Financial Instruments (Estimated Fair Values Of Financial Instruments) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Investments [Member]
Assets
Assets	$ 4,312,161	$ 3,768,091
Notes Receivable [Member]
Assets
Assets	5,665	5,557
Total Return Swap [Member]
Liabilities
Liabilities fair value	0	4,851
Equity Contract [Member]
Liabilities
Derivative liabilitly	77	3
Unsecured Debt [Member] | Borrowings [Member]
Liabilities
Notes payable, fair value	$ 394,279	$ 362,674

Financial Instruments (Narrativ

Financial Instruments (Narrative) (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Unsecured Debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, face amount	$ 375,000,000	$ 375,000,000

Investments (Gains And Losses D

Investments (Gains And Losses Due To Changes In Fair Value Of Investments) (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
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Gains and losses due to changes in fair value of investments	$ 18,173	$ 24,021	$ 50,281	$ 104,227	$ (70,020)	$ (12,907)	$ 8,793	$ (58,532)	$ 196,594	$ (132,658)	$ 87,927
Fixed Maturity Securities [Member]
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Gains and losses due to changes in fair value of investments									104,379	(53,927)	50,403
Equity Securities [Member]
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Gains and losses due to changes in fair value of investments									90,920	(77,494)	37,486
Short-term Investments [Member]
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Gains and losses due to changes in fair value of investments									$ 1,295	$ (1,237)	$ 38

Investments (Gross Gains And Lo

Investments (Gross Gains And Losses Realized On Sales Of Investments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Investments [Abstract]
Fixed maturity securities, Realized Gain	$ 2,413	$ 549	$ 604
Fixed maturity securities, Realized Loss	(1,066)	(3,563)	(2,701)
Fixed maturity securities, Realized Gain (Loss)	1,347	(3,014)	(2,097)
Equity securities, Realized Gain	47,411	43,420	20,835
Equity securities, Realized Loss	(28,089)	(45,607)	(23,048)
Equity securities, Realized Gain (Loss)	19,322	(2,187)	(2,213)
Short-term investments, Realized Gain	177	61	21
Short-term investments, Gross Realized Losses	(2,133)	(2,429)	(20)
Short-term investments, Realized Gain (Loss)	$ (1,956)	$ (2,368)	$ 1

Investments (Estimated Fair Val

Investments (Estimated Fair Value Of Investments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Fixed maturity securities:
Due in one year or less	$ 105,929
Due after one year through five years	548,638
Due after five years through ten years	287,005
Due after ten years	2,151,703
Total	$ 3,093,275	$ 2,985,161
External credit rating, non investment grade [Member]
Credit Derivatives [Line Items]
Percentage of fixed maturities	1.30%

Investments (Investment Income)

Investments (Investment Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Investments [Line Items]
Total investment income	$ 146,868	$ 141,483	$ 130,097
Less: Investment expense	(5,605)	(5,645)	(5,167)
Net investment income	141,263	135,838	124,930
Fixed Maturity Securities [Member]
Investments [Line Items]
Total investment income	102,254	102,198	102,790
Equity Securities [Member]
Investments [Line Items]
Total investment income	32,233	30,496	18,554
Short-term Investments [Member]
Investments [Line Items]
Total investment income	$ 12,381	$ 8,789	$ 8,753

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details)	12 Months Ended
	Dec. 31, 2019USD ($)broker	Dec. 31, 2018USD ($)broker
Fair Value Measurement [Line Items]
Percentage of portfolio of unadjusted fair values obtained	97.90%
Minimum [Member]
Fair Value Measurement [Line Items]
Number of knowledgeable outside security brokers consulted to determine fair value | broker	1	1
Unsecured Debt [Member]
Fair Value Measurement [Line Items]
Debt instrument, face amount	$ 375,000,000	$ 375,000,000
Fair Value, Measurements, Recurring [Member]
Fair Value Measurement [Line Items]
Assets, fair value	4,317,826,000	3,773,648,000
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement [Line Items]
Assets, fair value	1,203,000	1,445,000
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Assets, fair value	3,156,091,000	3,013,932,000
Commercial Mortgage Backed Securities [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Holings in mortgage backed securities	18,900,000	$ 24,800,000
Equity Securities [Member] | Private Equity Funds Net Asset Value [Member]
Fair Value Measurement [Line Items]
Unfunded commitments	$ 0
Equity Securities [Member] | Private Equity Funds Net Asset Value [Member] | Minimum [Member]
Fair Value Measurement [Line Items]
Liquidating investment, remaining period	1 year
Equity Securities [Member] | Private Equity Funds Net Asset Value [Member] | Maximum [Member]
Fair Value Measurement [Line Items]
Liquidating investment, remaining period	10 years

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Valuation Techniques) (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	$ 3,093,275,000	$ 2,985,161,000
Equity securities (cost $648,282; $544,082)	724,751,000	529,631,000
Short-term investments (cost $494,060; $254,518)	494,135,000	253,299,000
Total Return Swap [Member]
Fair Value Measurement [Line Items]
Liabilities fair value	0	4,851,000
Equity Contract [Member]
Fair Value Measurement [Line Items]
Derivative liabilitly	77,000	3,000
Fair Value, Measurements, Recurring [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	3,093,275,000	2,985,161,000
Equity securities (cost $648,282; $544,082)	724,751,000	529,631,000
Short-term investments (cost $494,060; $254,518)	494,135,000	253,299,000
Other assets:	5,665,000	5,557,000
Total assets at fair value	4,317,826,000	3,773,648,000
Liabilities fair value	77,000	4,854,000
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	22,637,000	25,003,000
Equity securities (cost $648,282; $544,082)	586,367,000	430,973,000
Short-term investments (cost $494,060; $254,518)	464,055,000	236,515,000
Other assets:	0	0
Total assets at fair value	1,073,059,000	692,491,000
Liabilities fair value	77,000	3,000
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	3,070,638,000	2,960,158,000
Equity securities (cost $648,282; $544,082)	49,708,000	31,433,000
Short-term investments (cost $494,060; $254,518)	30,080,000	16,784,000
Other assets:	5,665,000	5,557,000
Total assets at fair value	3,156,091,000	3,013,932,000
Liabilities fair value	0	4,851,000
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	0	0
Equity securities (cost $648,282; $544,082)	1,203,000	1,445,000
Short-term investments (cost $494,060; $254,518)	0	0
Other assets:	0	0
Total assets at fair value	1,203,000	1,445,000
Liabilities fair value	0	0
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	22,637,000	25,003,000
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Level 1 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	22,637,000	25,003,000
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	0	0
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Level 3 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	0	0
Fair Value, Measurements, Recurring [Member] | Municipal Securities [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	2,554,208,000	2,620,132,000
Fair Value, Measurements, Recurring [Member] | Municipal Securities [Member] | Level 1 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	0	0
Fair Value, Measurements, Recurring [Member] | Municipal Securities [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	2,554,208,000	2,620,132,000
Fair Value, Measurements, Recurring [Member] | Municipal Securities [Member] | Level 3 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	0	0
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	63,003,000	30,952,000
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Level 1 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	0	0
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	63,003,000	30,952,000
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Level 3 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	0	0
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	235,565,000	105,524,000
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Level 1 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	0	0
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	235,565,000	105,524,000
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Level 3 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	0	0
Fair Value, Measurements, Recurring [Member] | Collateralized Loan Obligations [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	199,217,000	165,789,000
Fair Value, Measurements, Recurring [Member] | Collateralized Loan Obligations [Member] | Level 1 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	0	0
Fair Value, Measurements, Recurring [Member] | Collateralized Loan Obligations [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	199,217,000	165,789,000
Fair Value, Measurements, Recurring [Member] | Collateralized Loan Obligations [Member] | Level 3 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	0	0
Fair Value, Measurements, Recurring [Member] | Other Asset-Backed Securities [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	18,645,000	37,761,000
Fair Value, Measurements, Recurring [Member] | Other Asset-Backed Securities [Member] | Level 1 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	0	0
Fair Value, Measurements, Recurring [Member] | Other Asset-Backed Securities [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	18,645,000	37,761,000
Fair Value, Measurements, Recurring [Member] | Other Asset-Backed Securities [Member] | Level 3 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $2,973,276; $2,969,541)	0	0
Fair Value, Measurements, Recurring [Member] | Common Stock [Member]
Fair Value Measurement [Line Items]
Equity securities (cost $648,282; $544,082)	586,367,000	430,973,000
Fair Value, Measurements, Recurring [Member] | Common Stock [Member] | Level 1 [Member]
Fair Value Measurement [Line Items]
Equity securities (cost $648,282; $544,082)	586,367,000	430,973,000
Fair Value, Measurements, Recurring [Member] | Common Stock [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Equity securities (cost $648,282; $544,082)	0	0
Fair Value, Measurements, Recurring [Member] | Common Stock [Member] | Level 3 [Member]
Fair Value Measurement [Line Items]
Equity securities (cost $648,282; $544,082)	0	0
Fair Value, Measurements, Recurring [Member] | Nonredeemable Preferred Stock [Member]
Fair Value Measurement [Line Items]
Equity securities (cost $648,282; $544,082)	49,708,000	31,433,000
Fair Value, Measurements, Recurring [Member] | Nonredeemable Preferred Stock [Member] | Level 1 [Member]
Fair Value Measurement [Line Items]
Equity securities (cost $648,282; $544,082)	0	0
Fair Value, Measurements, Recurring [Member] | Nonredeemable Preferred Stock [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Equity securities (cost $648,282; $544,082)	49,708,000	31,433,000
Fair Value, Measurements, Recurring [Member] | Nonredeemable Preferred Stock [Member] | Level 3 [Member]
Fair Value Measurement [Line Items]
Equity securities (cost $648,282; $544,082)	0	0
Fair Value, Measurements, Recurring [Member] | Private Equity Funds [Member]
Fair Value Measurement [Line Items]
Equity securities (cost $648,282; $544,082)	1,203,000	1,445,000
Fair Value, Measurements, Recurring [Member] | Private Equity Funds [Member] | Level 1 [Member]
Fair Value Measurement [Line Items]
Equity securities (cost $648,282; $544,082)	0	0
Fair Value, Measurements, Recurring [Member] | Private Equity Funds [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Equity securities (cost $648,282; $544,082)	0	0
Fair Value, Measurements, Recurring [Member] | Private Equity Funds [Member] | Level 3 [Member]
Fair Value Measurement [Line Items]
Equity securities (cost $648,282; $544,082)	1,203,000	1,445,000
Fair Value, Measurements, Recurring [Member] | Private Equity Funds Net Asset Value [Member]
Fair Value Measurement [Line Items]
Equity securities (cost $648,282; $544,082)	87,473,000	65,780,000
Fair Value, Measurements, Recurring [Member] | Short-term Debt [Member]
Fair Value Measurement [Line Items]
Short-term investments (cost $494,060; $254,518)	32,902,000	48,256,000
Fair Value, Measurements, Recurring [Member] | Short-term Debt [Member] | Level 1 [Member]
Fair Value Measurement [Line Items]
Short-term investments (cost $494,060; $254,518)	2,822,000	31,472,000
Fair Value, Measurements, Recurring [Member] | Short-term Debt [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Short-term investments (cost $494,060; $254,518)	30,080,000	16,784,000
Fair Value, Measurements, Recurring [Member] | Short-term Debt [Member] | Level 3 [Member]
Fair Value Measurement [Line Items]
Short-term investments (cost $494,060; $254,518)	0	0
Fair Value, Measurements, Recurring [Member] | Money Market Funds [Member]
Fair Value Measurement [Line Items]
Short-term investments (cost $494,060; $254,518)	461,233,000	205,043,000
Fair Value, Measurements, Recurring [Member] | Money Market Funds [Member] | Level 1 [Member]
Fair Value Measurement [Line Items]
Short-term investments (cost $494,060; $254,518)	461,233,000	205,043,000
Fair Value, Measurements, Recurring [Member] | Money Market Funds [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Short-term investments (cost $494,060; $254,518)	0	0
Fair Value, Measurements, Recurring [Member] | Money Market Funds [Member] | Level 3 [Member]
Fair Value Measurement [Line Items]
Short-term investments (cost $494,060; $254,518)	0	0
Fair Value, Measurements, Recurring [Member] | Total Return Swap [Member]
Fair Value Measurement [Line Items]
Derivative liabilitly		4,851,000
Fair Value, Measurements, Recurring [Member] | Total Return Swap [Member] | Level 1 [Member]
Fair Value Measurement [Line Items]
Derivative liabilitly		0
Fair Value, Measurements, Recurring [Member] | Total Return Swap [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Derivative liabilitly		4,851,000
Fair Value, Measurements, Recurring [Member] | Total Return Swap [Member] | Level 3 [Member]
Fair Value Measurement [Line Items]
Derivative liabilitly		0
Fair Value, Measurements, Recurring [Member] | Equity Contract [Member] | Level 1 [Member]
Fair Value Measurement [Line Items]
Derivative liabilitly	77,000	3,000
Fair Value, Measurements, Recurring [Member] | Equity Contract [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Derivative liabilitly	0	0
Fair Value, Measurements, Recurring [Member] | Equity Contract [Member] | Level 3 [Member]
Fair Value Measurement [Line Items]
Derivative liabilitly	$ 0	$ 0

Fair Value Measurements (Summar

Fair Value Measurements (Summary Of Changes In Fair Value Of Level 3 Financial Assets And Financial Liabilities Held At Fair Value) (Details) - Partnership Interest in a Private Credit Fund [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 1,445	$ 1,481
Net realized gains (losses) included in earnings	101	(36)
Settlements	(343)	0
Ending Balance	1,203	1,445
The amount of total gains (losses) for the period included in earnings attributable to assets still held at December 31	$ 93	$ (36)

Fair Value Measurements (Summ_2

Fair Value Measurements (Summary of Carrying Value and Fair Value of the Company's Financial Instruments Disclosed but not Carried at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	$ 372,133	$ 371,734
Borrowings [Member] | Unsecured Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	372,133	371,734
Notes payable, fair value	394,279	362,674
Borrowings [Member] | Unsecured Debt [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0	0
Borrowings [Member] | Unsecured Debt [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	394,279	362,674
Borrowings [Member] | Unsecured Debt [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	$ 0	$ 0

Fixed Assets (Details)

Fixed Assets (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Aug. 31, 2017USD ($)a	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Property, Plant and Equipment [Line Items]
Fixed assets, gross		$ 481,046	$ 512,292
Less: accumulated depreciation and amortization		(312,060)	(359,269)
Fixed assets, net		168,986	153,023
Depreciation expense		23,200	19,900	$ 21,200
Number of acres | a	6
Proceeds from sale of property	$ 12,200
Promissory note received in sale of land	$ 5,700
Interest rate on promissory note	3.50%
Gain on sale of land	$ 3,300
Land [Member]
Property, Plant and Equipment [Line Items]
Fixed assets, gross		18,152	18,144
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Fixed assets, gross		140,567	138,238
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Fixed assets, gross		70,355	123,021
Software Development [Member]
Property, Plant and Equipment [Line Items]
Fixed assets, gross		244,425	222,903
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Fixed assets, gross		$ 7,547	$ 9,986

Deferred Policy Acquisition C_3

Deferred Policy Acquisition Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of year	$ 215,131	$ 198,151	$ 200,826
Policy acquisition costs deferred	620,120	589,144	552,675
Amortization	(602,085)	(572,164)	(555,350)
Balance, end of year	$ 233,166	$ 215,131	$ 198,151

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	Jan. 01, 2019
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets			$ 44,909
Operating lease liabilities			$ 47,996
Weighted-average remaining lease term (in years):			4 years 4 months 24 days
Lessee, operating lease, not yet commenced, amount			$ 2,000
Rent expense	$ 14,900	$ 14,800
Accounting Standards Update 2016-02 [Member]
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets				$ 41,000
Operating lease liabilities				43,000
Deferred rent credit				$ (2,000)
Minimum [Member]
Lessee, Lease, Description [Line Items]
Weighted-average remaining lease term (in years):			1 year
Lessee, operating lease, lease not yet commenced, term of contract			1 year
Maximum [Member]
Lessee, Lease, Description [Line Items]
Weighted-average remaining lease term (in years):			8 years
Lessee, operating lease, lease not yet commenced, term of contract			3 years

Notes Payable (Schedule of Long

Notes Payable (Schedule of Long-term Debt) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Mar. 08, 2017
Debt Instrument [Line Items]
Total principal amount	$ 375,000	$ 375,000
Unamortized discount and debt issuance costs	2,867	3,266
Total	372,133	$ 371,734
Unsecured Debt [Member] | Unsecured Notes One [Member]
Debt Instrument [Line Items]
Unsecured debt	$ 375,000
Interest rate, stated percentage	4.40%		4.40%
Unsecured Debt [Member] | Unsecured Notes Two [Member]
Debt Instrument [Line Items]
Unsecured debt	$ 0
Minimum [Member] | LIBOR [Member] | Unsecured Debt [Member] | Unsecured Notes Two [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	0.1125%
Maximum [Member] | LIBOR [Member] | Unsecured Debt [Member] | Unsecured Notes Two [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	0.1625%

Leases (Lease Cost) (Details)

Leases (Lease Cost) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Leases [Abstract]
Operating lease cost	$ 15,146
Variable lease cost	2,196
Total lease cost	$ 17,342

Notes Payable (Narrative) (Deta

Notes Payable (Narrative) (Details) $ in Thousands	Mar. 29, 2017USD ($)	Mar. 08, 2017USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
Repayments of debt		$ 320,000
Unamortized discount and debt issuance costs			$ 2,867	$ 3,266
Revolving Credit Facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt to total capital ratio	0.15
Commitment fee on undrawn portion of facility	0.125%
Revolving Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt to total capital ratio	0.25
Commitment fee on undrawn portion of facility	0.225%
Revolving Credit Facility [Member] | LIBOR [Member] | Minimum [Member]
Debt Instrument [Line Items]
Revolving credit facility term	5 years
Basis spread on variable rate	1.125%
Debt to total capital ratio	0.15
Revolving Credit Facility [Member] | LIBOR [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.625%
Debt to total capital ratio	0.25
Unsecured Notes Two [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Loan maximum borrowing capacity	$ 50,000
Unamortized debt issuance expense	$ 100
Unsecured Notes Two [Member] | Revolving Credit Facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Commitment fee on undrawn portion of facility			0.15%
Unsecured Notes Two [Member] | Revolving Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt to total capital ratio			0.172
Unsecured Debt [Member] | Unsecured Notes One [Member]
Debt Instrument [Line Items]
Unsecured debt			$ 375,000
Interest rate, stated percentage		4.40%	4.40%
Debt issuance costs		$ 3,400
Discount percent		99.847%
Interest rate, effective percentage		4.45%
Unsecured Debt [Member] | Unsecured Notes Two [Member]
Debt Instrument [Line Items]
Unsecured debt			$ 0
Unsecured Debt [Member] | Unsecured Notes Two [Member] | LIBOR [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis spread on variable rate			0.1125%
Unsecured Debt [Member] | Unsecured Notes Two [Member] | LIBOR [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis spread on variable rate			0.1625%
Unsecured Debt [Member] | Borrowings [Member] | Level 2 [Member] | Unsecured Notes One [Member]
Debt Instrument [Line Items]
Unsecured debt				375,000
Unsecured Debt [Member] | Borrowings [Member] | Level 2 [Member] | Unsecured Notes Two [Member]
Debt Instrument [Line Items]
Unsecured debt				$ 0

Leases (Supplemental Balance Sh

Leases (Supplemental Balance Sheet Information) (Details) $ in Thousands	Dec. 31, 2019USD ($)
Leases [Abstract]
Operating lease ROU assets	$ 44,909
Operating lease liabilities	$ 47,996

Notes Payable (Schedule of Matu

Notes Payable (Schedule of Maturities of Debt) (Details) $ in Thousands	Dec. 31, 2019USD ($)
Notes Payable [Abstract]
2020	$ 0
2022	0
2023	0
2024	0
2025	0
Thereafter	375,000
Total	$ 375,000

Leases (Weighted Average Lease

Leases (Weighted Average Lease Term and Discount Rate) (Details)	Dec. 31, 2019
Leases [Abstract]
Weighted-average remaining lease term (in years):	4 years 4 months 24 days
Weighted-average discount rate:	3.02%

Leases (Supplemental Cash Flow

Leases (Supplemental Cash Flow Information) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Leases [Abstract]
Operating cash flows from operating leases	$ 14,289
ROU assets obtained in exchange for lease liabilities:	$ 15,372

Leases (Maturities of Operating

Leases (Maturities of Operating Lease Liabilities After ASU Adoption) (Details) $ in Thousands	Dec. 31, 2019USD ($)
Leases [Abstract]
2020	$ 14,458
2021	12,259
2022	9,910
2023	6,439
2024	3,533
2025 and thereafter	4,744
Total lease payments	51,343
Less: Imputed interest	3,347
Total lease obligations	$ 47,996

Leases (Future Rent Expense Due

Leases (Future Rent Expense Due Prior To ASU Adoption) (Details) $ in Thousands	Dec. 31, 2018USD ($)
Leases [Abstract]
2019	$ 12,812
2020	11,547
2021	8,732
2022	6,972
2023	3,659
Thereafter	$ 1,966

Derivative Financial Instrume_3

Derivative Financial Instruments (Narrative) (Details) - Swap [Member] - USD ($) $ in Millions	Feb. 13, 2014	Aug. 09, 2013	Jan. 31, 2017	Dec. 31, 2018	Jul. 31, 2018	Jan. 31, 2018	Dec. 31, 2017	Jul. 07, 2017	Dec. 31, 2016
FFL [Member]
Derivative Financial Instruments [Line Items]
Swap agreement collateral	$ 31
Notional amount				$ 100
Term of swap agreement	1 year			1 year
FFL [Member] | LIBOR [Member]
Derivative Financial Instruments [Line Items]
Basis spread on variable rate	1.28%			1.28%	1.05%	1.20%
AFL [Member]
Derivative Financial Instruments [Line Items]
Swap agreement collateral		$ 40
Notional amount									$ 152
Term of swap agreement		3 years	1 year
AFL [Member] | LIBOR [Member]
Derivative Financial Instruments [Line Items]
Basis spread on variable rate		1.35%	1.28%				1.35%	1.28%

Derivative Financial Instrume_4

Derivative Financial Instruments (Summary Of Location And Amounts Of Derivative Fair Values In The Consolidated Balance Sheets) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Derivative Financial Instruments [Line Items]
Liability Derivatives	$ 77	$ 4,854
Not Designated as Hedging Instrument [Member] | Equity contracts [Member] | Other liabilities [Member]
Derivative Financial Instruments [Line Items]
Liability Derivatives	77	3
Not Designated as Hedging Instrument [Member] | Interest rate swap agreements [Member] | Other liabilities [Member]
Derivative Financial Instruments [Line Items]
Liability Derivatives	$ 0	$ 4,851

Derivative Financial Instrume_5

Derivative Financial Instruments (Schedule Of Derivative Gains And Losses In The Consolidated Statements Of Operations) (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Derivative Financial Instruments [Line Items]
Gains (Losses) Recognized in Income	$ 7,378	$ 6,715	$ 154
Total Return Swap [Member] | Net realized investment gains [Member]
Derivative Financial Instruments [Line Items]
Gains (Losses) Recognized in Income	1,039	(3,783)	(2,137)
Equity contracts [Member] | Net realized investment gains [Member]
Derivative Financial Instruments [Line Items]
Gains (Losses) Recognized in Income	$ 6,339	$ 10,498	$ 2,291

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Schedule Of Components Of Other Intangible Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 74,313	$ 74,148
Accumulated Amortization	(63,677)	(58,614)
Other intangible assets, net	10,636	15,534
Insurance license [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,400	1,400
Other intangible assets, net	1,400	1,400
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	53,213	53,048
Accumulated Amortization	(52,319)	(47,897)
Other intangible assets, net	$ 894	$ 5,151
Useful Lives (in years)	11 years	11 years
Trade names [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 15,400	$ 15,400
Accumulated Amortization	(7,058)	(6,417)
Other intangible assets, net	$ 8,342	$ 8,983
Useful Lives (in years)	24 years	24 years
Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 4,300	$ 4,300
Accumulated Amortization	(4,300)	(4,300)
Other intangible assets, net	$ 0	$ 0
Useful Lives (in years)	10 years	10 years

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets amortization expense	$ 5.1	$ 5.5	$ 5.4

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets (Schedule Of Estimated Future Amortization Expense Related To Intangible Assets) (Details) $ in Thousands	Dec. 31, 2019USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2020	$ 922
2021	902
2022	878
2023	714
2024	686
Thereafter	5,134
Net Carrying Amount	$ 9,236

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]
Reduction to alternative minimum tax credit, percent		6.60%
Deferred tax liability adjustment due to tax act		$ 6.7	$ 8.6
Increase (decrease) in unrecognized tax benefits		(4.6)
Tax settlement paid	$ 4.6
Unrecognized tax benefits that would impact effective tax rate		7.2	11.5
Interest and penalty expense, excluding refunds		(0.1)	0.5	$ (1.1)
Accrued interest and penalty		$ 2.8	$ 2.9

Income Taxes (Components Of Inc

Income Taxes (Components Of Income Tax Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Federal
Current	$ 18,109	$ 14,190	$ 10,898
Deferred	40,413	(39,244)	10,934
Total	58,522	(25,054)	21,832
State
Current	(1,430)	1,982	955
Deferred	890	(1,815)	(579)
Total	(540)	167	376
Current	16,679	16,172	11,853
Deferred	41,303	(41,059)	10,355
Income tax expense (benefit)	$ 57,982	$ (24,887)	$ 22,208

Income Taxes (Reconciliation Of

Income Taxes (Reconciliation Of Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]
Computed tax expense (benefit) at 21% for 2019 and 2018 and 35% for 2017	$ 79,394	$ (6,429)	$ 58,480
Tax-exempt interest income	(12,909)	(13,507)	(26,038)
Dividends received deduction	(1,276)	(1,082)	(2,296)
State tax (benefit) expense	(869)	439	158
Nondeductible expenses	526	390	348
Change in federal tax contingency reserve	(2,588)	0	0
Cumulative impact from change in federal tax rate	0	0	(11,449)
(Reversal in 2018) reduction of AMT credit carryforward due to sequestration in 2017	0	(4,088)	4,088
Other, net	(4,296)	(610)	(1,083)
Income tax expense (benefit)	$ 57,982	$ (24,887)	$ 22,208

Income Taxes (Deferred Tax Asse

Income Taxes (Deferred Tax Assets And Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
20% of net unearned premiums	$ 58,448	$ 52,644
Discounting of loss reserves and salvage and subrogation recoverable for tax purposes	12,769	9,245
Write-down of impaired investments	314	356
Expense accruals	8,099	7,019
Tax asset on net unrealized loss on securities carried at fair value	0	1,055
Other deferred tax assets	3,348	3,257
Total gross deferred tax assets	82,978	73,576
Deferred tax liabilities:
Deferred policy acquisition costs	(48,964)	(45,178)
Tax liability on net unrealized gain on securities carried at fair value	(41,273)	0
Tax depreciation in excess of book depreciation	(8,105)	(4,594)
Undistributed earnings of insurance subsidiaries	(2,855)	(3,017)
Tax amortization in excess of book amortization	(3,264)	(2,729)
Other deferred tax liabilities	(6,481)	(4,719)
Total gross deferred tax liabilities	(110,942)	(60,237)
Net deferred tax (liabilities) assets	$ (27,964)
Net deferred tax (liabilities) assets		$ 13,339

Income Taxes (Summary Of Unreco

Income Taxes (Summary Of Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Balance at January 1	$ 10,615	$ 9,674
Additions based on tax positions related to the current year	0	662
Decreases based on tax positions related to prior years	(4,564)
Additions based on tax positions related to prior years		279
Balance at December 31	$ 6,051	$ 10,615

Loss And Loss Adjustment Expe_3

Loss And Loss Adjustment Expense Reserves (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Unusual or Infrequent Item, or Both [Line Items]
Prior year claims and claim adjustment expense		$ 9,794	$ 93,096	$ 54,431
Prior year claims and claim adjustment expense payments		857,872	831,020	724,570
Pre-tax catastrophe losses				168,000
Catastrophe [Member]
Unusual or Infrequent Item, or Both [Line Items]
Prior year claims and claim adjustment expense		9,800	93,100	54,400
Pre-tax catastrophe losses, net of reinsurance benefits		53,000	67,000	$ 79,000
Prior year claims and claim adjustment expense payments		4,000
Pre-tax catastrophe losses		$ 57,000	$ 289,000
Fire [Member]
Unusual or Infrequent Item, or Both [Line Items]
Loss from catastrophes	$ 208,000
Loss from catastrophes, net of reinsurance benefits	40,000
Salvage and subrogation recoveries, value	$ 10,000

Loss And Loss Adjustment Expe_4

Loss And Loss Adjustment Expense Reserves (Activity In The Reserves For Losses And Loss Adjustment Expenses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Gross reserves at January 1	$ 1,829,412	$ 1,510,613	$ 1,290,248
Reinsurance recoverables on unpaid losses	76,100	180,859	64,001	$ 13,161
Net reserves at January 1	1,648,553	1,446,612	1,277,087
Incurred losses and loss adjustment expense related to:
Current year	2,696,230	2,483,693	2,390,453
Prior year claims and claim adjustment expense	9,794	93,096	54,431
Total incurred losses and loss adjustment expenses	2,706,024	2,576,789	2,444,884
Loss and loss adjustment expense payments related to:
Current year	1,651,550	1,543,828	1,550,789
Prior years	857,872	831,020	724,570
Total payments	2,509,422	2,374,848	2,275,359
Net reserves at December 31	1,845,155	1,648,553	1,446,612
Gross reserves at December 31	$ 1,921,255	$ 1,829,412	$ 1,510,613

Loss And Loss Adjustment Expe_5

Loss And Loss Adjustment Expense Reserves - Incurred and Paid Claims (Details) number_of_claims in Thousands, $ in Thousands	Dec. 31, 2019USD ($)number_of_claims	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2012USD ($)	Dec. 31, 2011USD ($)	Dec. 31, 2010USD ($)
Claims Development [Line Items]
Net outstanding liabilities	$ 1,745,170
Property insurance product line, automobile [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	16,007,752
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	14,567,335
All outstanding liabilities before 2010, net of reinsurance	(557)
Net outstanding liabilities	1,439,861
Property insurance product line, homeowners' [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	2,372,452
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	2,190,296
All outstanding liabilities before 2010, net of reinsurance	(576)
Net outstanding liabilities	182,731
Short-duration insurance contracts, accident year 2007 [Member] | Property insurance product line, automobile [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	1,388,086	$ 1,388,055	$ 1,388,077	$ 1,386,105	$ 1,381,056	$ 1,379,336	$ 1,374,638	$ 1,364,307	$ 1,357,750	$ 1,367,547
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 43
Cumulative Number of Reported Claims | number_of_claims	184
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,388,322	1,388,140	1,387,835	1,384,333	1,375,799	1,365,464	1,335,871	1,268,142	1,143,984	908,954
Short-duration insurance contracts, accident year 2007 [Member] | Property insurance product line, homeowners' [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	159,652	159,720	159,662	159,608	160,015	160,206	160,472	160,983	157,566	165,727
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 1
Cumulative Number of Reported Claims | number_of_claims	21
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 159,491	159,435	159,268	158,943	158,053	156,853	155,191	149,084	137,628	$ 95,057
Short-duration insurance contracts, accident year 2008 [Member] | Property insurance product line, automobile [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	1,401,151	1,401,178	1,405,112	1,398,518	1,393,878	1,388,363	1,380,557	1,367,000	1,343,919
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 73
Cumulative Number of Reported Claims | number_of_claims	181
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,400,958	1,400,441	1,394,684	1,391,101	1,378,920	1,347,082	1,277,808	1,152,459	926,983
Short-duration insurance contracts, accident year 2008 [Member] | Property insurance product line, homeowners' [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	170,174	170,334	170,126	169,621	169,390	169,600	170,052	170,623	167,414
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 75
Cumulative Number of Reported Claims | number_of_claims	23
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 169,899	169,757	168,914	168,621	167,806	166,375	162,870	153,845	$ 111,909
Short-duration insurance contracts, accident year 2009 [Member] | Property insurance product line, automobile [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	1,439,660	1,438,250	1,436,034	1,426,735	1,414,878	1,409,104	1,408,222	1,424,754
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 493
Cumulative Number of Reported Claims | number_of_claims	181
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,438,686	1,434,956	1,422,705	1,409,911	1,372,828	1,304,511	1,194,648	955,647
Short-duration insurance contracts, accident year 2009 [Member] | Property insurance product line, homeowners' [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	192,790	192,905	191,804	192,057	191,548	190,376	188,010	196,063
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 6
Cumulative Number of Reported Claims | number_of_claims	25
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 192,362	191,660	190,649	190,373	188,121	182,756	175,029	$ 128,618
Short-duration insurance contracts, accident year 2010 [Member] | Property insurance product line, automobile [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	1,468,237	1,468,294	1,464,071	1,458,421	1,447,881	1,431,058	1,448,567
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 1,149
Cumulative Number of Reported Claims | number_of_claims	185
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,464,277	1,460,352	1,447,004	1,413,999	1,340,724	1,217,906	974,445
Short-duration insurance contracts, accident year 2010 [Member] | Property insurance product line, homeowners' [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	187,147	188,014	187,165	186,795	188,026	188,915	191,903
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 42
Cumulative Number of Reported Claims | number_of_claims	23
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 186,494	186,132	185,168	183,860	180,858	174,295	$ 133,528
Short-duration insurance contracts, accident year 2011 [Member] | Property insurance product line, automobile [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	1,501,075	1,498,504	1,486,322	1,473,545	1,454,366	1,467,175
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 3,469
Cumulative Number of Reported Claims | number_of_claims	180
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,490,366	1,476,944	1,432,472	1,358,472	1,231,413	967,481
Short-duration insurance contracts, accident year 2011 [Member] | Property insurance product line, homeowners' [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	208,003	204,986	202,513	203,218	202,621	199,298
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 3,259
Cumulative Number of Reported Claims | number_of_claims	25
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 203,333	202,193	198,758	194,605	186,996	$ 139,615
Short-duration insurance contracts, accident year 2012 [Member] | Property insurance product line, automobile [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	1,645,950	1,634,435	1,610,839	1,588,443	1,551,105
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 9,132
Cumulative Number of Reported Claims | number_of_claims	170
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,614,188	1,560,480	1,466,368	1,336,223	1,040,253
Short-duration insurance contracts, accident year 2012 [Member] | Property insurance product line, homeowners' [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	238,652	236,855	233,501	234,881	234,800
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 1,978
Cumulative Number of Reported Claims | number_of_claims	24
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 234,683	230,480	224,178	213,994	$ 163,196
Short-duration insurance contracts, accident year 2013 [Member] | Property insurance product line, automobile [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	1,731,997	1,713,696	1,669,642	1,672,853
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 22,097
Cumulative Number of Reported Claims | number_of_claims	154
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,656,192	1,554,217	1,395,199	1,094,006
Short-duration insurance contracts, accident year 2013 [Member] | Property insurance product line, homeowners' [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	259,708	259,497	259,489	250,691
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 2,092
Cumulative Number of Reported Claims | number_of_claims	24
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 253,919	245,878	234,215	$ 173,537
Short-duration insurance contracts, accident year 2014 [Member] | Property insurance product line, automobile [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	1,741,825	1,727,277	1,703,857
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 58,648
Cumulative Number of Reported Claims | number_of_claims	149
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,561,850	1,399,202	1,076,079
Short-duration insurance contracts, accident year 2014 [Member] | Property insurance product line, homeowners' [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	288,322	295,163	309,491
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 4,310
Cumulative Number of Reported Claims | number_of_claims	30
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 278,341	269,254	$ 217,900
Short-duration insurance contracts, accident year 2015 [Member] | Property insurance product line, automobile [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	1,773,502	1,781,817
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 139,022
Cumulative Number of Reported Claims | number_of_claims	146
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,417,637	1,082,127
Short-duration insurance contracts, accident year 2015 [Member] | Property insurance product line, homeowners' [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	308,361	311,798
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 15,686
Cumulative Number of Reported Claims | number_of_claims	25
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 271,534	$ 213,038
Short-duration insurance contracts, accident year 2016 [Member] | Property insurance product line, automobile [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	1,916,269
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 438,858
Cumulative Number of Reported Claims | number_of_claims	140
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,134,859
Short-duration insurance contracts, accident year 2016 [Member] | Property insurance product line, homeowners' [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	359,643
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 64,136
Cumulative Number of Reported Claims | number_of_claims	28
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 240,240

Loss And Loss Adjustment Expe_6

Loss And Loss Adjustment Expense Reserves - Average Annual Percentage Payout of Incurred Claims by Age (Details)	Dec. 31, 2019
Property insurance product line, automobile [Member]
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Short-duration insurance contracts, historical claims duration, year one	63.60%
Short-duration insurance contracts, historical claims duration, year two	17.40%
Short-duration insurance contracts, historical claims duration, year three	8.60%
Short-duration insurance contracts, historical claims duration, year four	5.20%
Short-duration insurance contracts, historical claims duration, year five	2.60%
Short-duration insurance contracts, historical claims duration, year six	0.90%
Short-duration insurance contracts, historical claims duration, year seven	0.50%
Short-duration insurance contracts, historical claims duration, year eight	0.30%
Short-duration insurance contracts, historical claims duration, year nine	0.90%
Short-duration insurance contracts, historical claims duration, year ten	0.00%
Property insurance product line, homeowners' [Member]
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Short-duration insurance contracts, historical claims duration, year one	67.60%
Short-duration insurance contracts, historical claims duration, year two	22.40%
Short-duration insurance contracts, historical claims duration, year three	4.40%
Short-duration insurance contracts, historical claims duration, year four	2.60%
Short-duration insurance contracts, historical claims duration, year five	1.20%
Short-duration insurance contracts, historical claims duration, year six	0.50%
Short-duration insurance contracts, historical claims duration, year seven	0.40%
Short-duration insurance contracts, historical claims duration, year eight	0.40%
Short-duration insurance contracts, historical claims duration, year nine	0.50%
Short-duration insurance contracts, historical claims duration, year ten	0.00%

Loss And Loss Adjustment Expe_7

Loss And Loss Adjustment Expense Reserves - Reconciliation of the Disclosure of Incurred and Paid Claims Development to the Loss and Loss Adjustment Expense Reserves (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Net outstanding liabilities	$ 1,745,170
Reinsurance recoverables on unpaid losses	76,100
Insurance lines other than short-duration	629
Unallocated claims adjustment expenses	99,356
Unallocated claims adjustment expenses, aggregate reconciling items	99,985
Total gross loss and loss adjustment expense reserves	1,921,255	$ 1,829,412	$ 1,510,613	$ 1,290,248
Property insurance product line, automobile [Member]
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Net outstanding liabilities	1,439,861
Reinsurance recoverables on unpaid losses	22,060
Property insurance product line, homeowners' [Member]
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Net outstanding liabilities	182,731
Reinsurance recoverables on unpaid losses	52,317
Property Insurance Product Line, WAIC Automobile [Member]
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Net outstanding liabilities	16,576
Other Short-duration Insurance Product Line [Member]
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Net outstanding liabilities	106,002
Reinsurance recoverables on unpaid losses	$ 1,723

Dividends (Dividends Paid In To

Dividends (Dividends Paid In Total And Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	Feb. 07, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Dividends [Abstract]
Total paid		$ 139,071	$ 138,478	$ 137,886
Per share (in dollars per share)		$ 2.5125	$ 2.5025	$ 2.4925
Maximum dividend payable without prior permission of DOI of states domicile		$ 151,000
Payments of ordinary dividends		$ 114,000	$ 135,000	$ 109,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Quarterly dividend declared (in dollars per share)	$ 0.6300

Statutory Balances and Accoun_3

Statutory Balances and Accounting Practices (Schedule Of Statutory Net Income And Capital And Surplus) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statutory Balances And Accounting Practices [Abstract]
Statutory net income	[1]	$ 135,670	$ 81,935	$ 117,376
Statutory capital and surplus		$ 1,539,998	$ 1,471,547	$ 1,589,226
RBC authorized control level		400.00%	400.00%	400.00%
Minimum RBC authorized control level		200.00%	200.00%	200.00%
[1]	Statutory net income reflects differences from GAAP net income, including changes in the fair value of the investment portfolio as a result of the application of the fair value option.

Profit Sharing Plan and Annua_2

Profit Sharing Plan and Annual Cash Bonuses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Deferred Compensation Arrangements [Abstract]
Maximum percentage of compensation employee is allowed to contribute	15.00%
Matching contributions	$ 9,900,000	$ 9,000,000	$ 8,600,000
Bonus expense, cash	$ 0	$ 0	$ 0

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details)	Feb. 28, 2017USD ($)	Jan. 01, 2008	Feb. 28, 2018executiveshares	Mar. 31, 2017USD ($)shares	Mar. 31, 2017USD ($)	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)shares	Dec. 31, 2017USD ($)shares	Dec. 31, 2016shares	Feb. 28, 2015shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options outstanding (in shares)						67,500	99,500
Vesting term						4 years
Options forfeited			10,000			10,000
Intrinsic value of stock options exercised | $					$ 42,000	$ 217,064		$ 371,000
Total fair value of stock options vested | $						$ 141,584	$ 0	$ 142,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Performance Period						3 years
Restricted Stock And Restricted Stock Unit [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSU available for issuance (in share)						0	75,250	169,000	271,000
Granted, shares (in shares)						0	0	0
RSUs vested during period (in shares)						0	0	82,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options, vested in period, fair value | $				$ 3,600,000
RSUs vested during period (in shares)				61,445
2015 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)										4,900,000
Options granted during period								0
Compensation expense not yet recognized | $						$ 300,000
Compensation expense not yet recognized, period for recognition						2 years 1 month 6 days
2015 Plan [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options available for issuance (in shares)						80,000
Number of executives | executive			4
2005 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of stock option exercisable per year						25.00%
Stock option expiration period (in years)		10 years
Common Stock [Member] | 2015 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options outstanding (in shares)						70,000
Number of shares available for issuance (in shares)						4,830,000
Additional Paid-in Capital [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reclassification of restricted stock units from equity to liability award | $	$ 200,000							$ 3,400,000

Share-Based Compensation (Share

Share-Based Compensation (Share-based Compensation Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Cash received from stock option exercises	$ 701	$ 358	$ 2,162
Compensation cost, all share-based awards	123	145	60
Excess tax benefits related to share-based compensation	$ (7)	$ 4	$ 8

Share-Based Compensation (Stock

Share-Based Compensation (Stock Option Valuation Assumptions) (Details) - Stock Options [Member]	12 Months Ended
	Dec. 31, 2019$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant-date fair value	$ 8.09
Expected volatility	33.18%
Risk-free interest rate	2.62%
Expected dividend yield	5.40%
Expected term	72 months

Share-Based Compensation (Summa

Share-Based Compensation (Summary Of Stock Option Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 28, 2018	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding Shares, Beginning balance (in shares)		99,500
Exercised, (in shares)		(22,000)
Canceled or expired, (in shares)	(10,000)	(10,000)
Outstanding Shares, Ending balance (in share)		67,500
Exercisable, (in shares)		15,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Outstanding, Weighted-Average Exercise Price, Beginning balance (in dollars per share)		$ 42.77
Exercised, Weighted-Average Exercise Price (in dollars per share)		41.92
Canceled or Expired, Weighted-Average Exercise Price (in dollars per share)		43.01
Outstanding, Weighted-Average Exercise Price, Ending balance (in dollars per share)		43.01
Exercisable, Weighted-Average Exercise Price (in dollars per share)		$ 43.01
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Outstanding, Weighted-Average Remaining Contractual Term (Years)		8 years 1 month 6 days
Exercisable, Weighted-Average Remaining Contractual Term (Years)		8 years 1 month 6 days
Outstanding, Aggregate Intrinsic Value		$ 376
Exercisable, Aggregate Intrinsic Value		$ 84

Share-Based Compensation (Sto_2

Share-Based Compensation (Stock Option Awards) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding (in shares)	67,500	99,500
Options Outstanding, Weighted-Avg. Remaining Contractual Life (Years)	8 years 1 month 6 days
Options Outstanding, Weighted-Avg. Exercise Price (in dollars per share)	$ 43.01	$ 42.77
Number of options exercisable (in shares)	15,000
Options Exercisable, Weighted-Avg. Exercise Price (in dollars per share)	$ 43.01
$43.01 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, lower limit (in dollars per share)	$ 43.01
Number of options outstanding (in shares)	67,500
Options Outstanding, Weighted-Avg. Remaining Contractual Life (Years)	8 years 1 month 6 days
Options Outstanding, Weighted-Avg. Exercise Price (in dollars per share)	$ 43.01
Number of options exercisable (in shares)	15,000
Options Exercisable, Weighted-Avg. Exercise Price (in dollars per share)	$ 43.01

Share-Based Compensation (Sum_2

Share-Based Compensation (Summary Of Vested And Unvested RSU) (Details) - Restricted Stock And Restricted Stock Unit [Member] - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding shares, Beginning balance (in shares)	75,250	169,000	271,000
Vested, shares (in shares)	0	0	(82,000)
Forfeited/canceled, shares (in shares)	(6,000)	(8,000)	(20,000)
Expired, shares (in shares)	(69,250)	(85,750)	0
Outstanding shares, Ending balance (in shares)	0	75,250	169,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Outstanding, Weighted-Average Fair Value per Share, Beginning (in dollars per share)	$ 53.49	$ 53.66	$ 51.09
Vested, Weighted-Average Fair Value per Share (in dollars per share)	0	0	45.17
Forfeited/Canceled, Weighted-Average Fair Value per Share (in dollars per share)	53.49	53.49	53.62
Expired, Weighted-Average Fair Value per Share (in dollars per share)	53.49	53.80	0
Outstanding, Weighted-Average Fair Value per Share, Ending (in dollars per share)	$ 0	$ 53.49	$ 53.66

Earnings Per Share (Details)

Earnings Per Share (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
Income (Numerator)
Income available to common stockholders, Basic									$ 320,087	$ (5,728)	$ 144,877
Income available to common stockholders after assumed conversions, Diluted									$ 320,087	$ (5,728)	$ 144,877
Weighted Shares (Denominator)
Weighted shares, basic (in shares)									55,351,000	55,335,000	55,316,000
Weighted shares, diluted (in shares)									55,360,000	55,335,000	55,327,000
Earnings Per Share Basic and Diluted, Per Share Amounts [Abstract]
Basic (in dollars per share)	$ 0.57	$ 1.25	$ 1.50	$ 2.46	$ (1.48)	$ 1.06	$ 1.09	$ (0.77)	$ 5.78	$ (0.10)	$ 2.62
Diluted (in dollars per share)	$ 0.57	$ 1.25	$ 1.50	$ 2.45	$ (1.48)	$ 1.06	$ 1.09	$ (0.77)	$ 5.78	$ (0.10)	$ 2.62
Common Stock [Member]
Earnings Per Share Basic and Diluted, Per Share Amounts [Abstract]
Potentially dilutive securities (in shares)									0	78,500	0
Stock Options [Member]
Income (Numerator)
Effect of dilutive securities: Options									$ 0	$ 0	$ 0
Weighted Shares (Denominator)
Effect of dilutive securities: options (in shares)									9,000	0	11,000

Commitments and Contingencies_2

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	Oct. 02, 2019	Aug. 30, 2019	Apr. 03, 2019	Feb. 09, 2015	Sep. 30, 2019	Jun. 30, 2019	Jun. 30, 2017	Nov. 17, 2016
Loss Contingencies [Line Items]
Exposure to earthquake loss			$ 73.8
California DOI [Member]
Loss Contingencies [Line Items]
Litigation settlement expense				$ 27.6	$ 6
Penalty interest assessed, statutory rate								7.00%
Loss contingency accrual						$ 3
Payments for legal settlements	$ 41.2	$ 35
Other liabilities [Member] | California DOI [Member]
Loss Contingencies [Line Items]
Gain contingency, unrecorded amount							$ 30.9

Commitments and Contingencies_3

Commitments and Contingencies (Future Minimum Commitments For Operating Leases) (Details) $ in Thousands	Dec. 31, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
2019	$ 12,812
2020	11,547
2021	8,732
2022	6,972
2023	3,659
Thereafter	$ 1,966

Quarterly Financial Informati_3

Quarterly Financial Information (Unaudited) (Summary Of Quarterly Financial Information) (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 Financial Data [Abstract]
Net premiums earned	$ 925,384	$ 915,012	$ 888,776	$ 870,245	$ 868,233	$ 858,135	$ 833,959	$ 808,084	$ 3,599,418	$ 3,368,411	$ 3,195,437
Change in fair value of financial instruments pursuant to the fair value option	18,173	24,021	50,281	104,227	(70,020)	(12,907)	8,793	(58,532)	196,594	(132,658)	87,927
Income before income taxes	28,465	80,840	101,595	167,169	(114,448)	70,286	73,246	(59,699)	378,069	(30,615)	167,085
Net income (loss)	$ 31,688	$ 69,282	$ 83,250	$ 135,867	$ (81,879)	$ 58,578	$ 60,180	$ (42,607)	$ 320,087	$ (5,728)	$ 144,877
Basic (loss) earnings per share (in dollars per share)	$ 0.57	$ 1.25	$ 1.50	$ 2.46	$ (1.48)	$ 1.06	$ 1.09	$ (0.77)	$ 5.78	$ (0.10)	$ 2.62
Diluted (loss) earnings per share (in dollars per share)	0.57	1.25	1.50	2.45	(1.48)	1.06	1.09	(0.77)	5.78	(0.10)	$ 2.62
Dividends paid per share (in dollars per share)	$ 0.6300	$ 0.6275	$ 0.6275	$ 0.6275	$ 0.6275	$ 0.6250	$ 0.6250	$ 0.6250	$ 0.6300	$ 0.6275

Segment Information - Summary o

Segment Information - Summary of Operating Results by Segment (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019USD ($)State	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2019USD ($)StateSubsidiarysegment	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Segment Reporting [Abstract]
Number of insurance companies | Subsidiary									14
Number of states in which company operates | State	11								11
Number of reportable segments | segment									1
Segment Reporting Information [Line Items]
Net premiums earned	$ 925,384	$ 915,012	$ 888,776	$ 870,245	$ 868,233	$ 858,135	$ 833,959	$ 808,084	$ 3,599,418	$ 3,368,411	$ 3,195,437
Losses and loss adjustment expenses									2,706,024	2,576,789	2,444,884
Underwriting expenses									871,400	816,800	788,700
Underwriting gain (loss)									22,000	(25,200)	(38,200)
Net investment income									141,263	135,838	124,930
Net realized investment gains (losses)									222,793	(133,520)	83,650
Other income									9,044	9,275	11,945
Interest expense									(17,035)	(17,036)	(15,168)
Income (loss) before income taxes	28,465	80,840	101,595	167,169	(114,448)	70,286	73,246	(59,699)	378,069	(30,615)	167,085
Net income (loss)	$ 31,688	$ 69,282	$ 83,250	$ 135,867	$ (81,879)	$ 58,578	$ 60,180	$ (42,607)	320,087	(5,728)	144,877
Property and Casualty Lines [Member]
Segment Reporting Information [Line Items]
Net premiums earned									3,571,000	3,337,900	3,160,900
Losses and loss adjustment expenses									2,692,700	2,562,000	2,427,800
Underwriting expenses									857,300	802,700	773,100
Underwriting gain (loss)									21,000	(26,800)	(40,000)
Other Segments [Member]
Segment Reporting Information [Line Items]
Net premiums earned									28,400	30,500	34,500
Losses and loss adjustment expenses									13,300	14,800	17,100
Underwriting expenses									14,100	14,100	15,600
Underwriting gain (loss)									$ 1,000	$ 1,600	$ 1,800

Segment Information - Summary_2

Segment Information - Summary of Premiums Written and Earned by Segment (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
Segment Reporting Information [Line Items]
Net premiums earned	$ 925,384	$ 915,012	$ 888,776	$ 870,245	$ 868,233	$ 858,135	$ 833,959	$ 808,084	$ 3,599,418	$ 3,368,411	$ 3,195,437
Direct premiums written									3,774,600	3,550,900	3,248,900
Private passenger automobile [Member]
Segment Reporting Information [Line Items]
Net premiums earned									2,756,500	2,602,100	2,473,800
Direct premiums written									2,820,500	2,703,600	2,480,000
Homeowners [Member]
Segment Reporting Information [Line Items]
Net premiums earned									514,800	459,400	431,600
Direct premiums written									598,500	524,900	469,900
Commercial automobile [Member]
Segment Reporting Information [Line Items]
Net premiums earned									208,700	190,100	171,900
Direct premiums written									217,300	198,500	178,200
Other insurance product line [Member]
Segment Reporting Information [Line Items]
Net premiums earned									119,400	116,800	118,100
Direct premiums written									138,300	123,900	120,800
Property and Casualty Lines [Member]
Segment Reporting Information [Line Items]
Net premiums earned									3,571,000	3,337,900	3,160,900
Direct premiums written									3,742,600	3,524,200	3,221,000
Property and Casualty Lines [Member] | Private passenger automobile [Member]
Segment Reporting Information [Line Items]
Net premiums earned									2,756,500	2,602,100	2,473,800
Direct premiums written									2,820,500	2,703,600	2,480,000
Property and Casualty Lines [Member] | Homeowners [Member]
Segment Reporting Information [Line Items]
Net premiums earned									514,800	459,400	431,600
Direct premiums written									598,500	524,900	469,900
Property and Casualty Lines [Member] | Commercial automobile [Member]
Segment Reporting Information [Line Items]
Net premiums earned									208,700	190,100	171,900
Direct premiums written									217,300	198,500	178,200
Property and Casualty Lines [Member] | Other insurance product line [Member]
Segment Reporting Information [Line Items]
Net premiums earned									91,000	86,300	83,600
Direct premiums written									106,300	97,200	92,900
Other Segments [Member]
Segment Reporting Information [Line Items]
Net premiums earned									28,400	30,500	34,500
Direct premiums written									32,000	26,700	27,900
Other Segments [Member] | Private passenger automobile [Member]
Segment Reporting Information [Line Items]
Net premiums earned									0	0	0
Direct premiums written									0	0	0
Other Segments [Member] | Homeowners [Member]
Segment Reporting Information [Line Items]
Net premiums earned									0	0	0
Direct premiums written									0	0	0
Other Segments [Member] | Commercial automobile [Member]
Segment Reporting Information [Line Items]
Net premiums earned									0	0	0
Direct premiums written									0	0	0
Other Segments [Member] | Other insurance product line [Member]
Segment Reporting Information [Line Items]
Net premiums earned									28,400	30,500	34,500
Direct premiums written									$ 32,000	$ 26,700	$ 27,900

Summary Of Investments Other _2

Summary Of Investments Other Than Investments In Related Parties (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	$ 4,115,618	$ 3,768,141
Fair value	4,312,161	3,768,091
Amounts in the balance sheet	4,312,161	3,768,091
US Government Agencies Debt Securities [Member]
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	22,502	25,131
Fair value	22,637	25,003
Amounts in the balance sheet	22,637	25,003
Municipal Bonds [Member]
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	2,435,346	2,599,056
Fair value	2,554,208	2,620,132
Amounts in the balance sheet	2,554,208	2,620,132
Collateralized Mortgage Backed Securities [Member]
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	62,566	30,640
Fair value	63,003	30,952
Amounts in the balance sheet	63,003	30,952
Corporate Debt Securities [Member]
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	233,730	107,479
Fair value	235,565	105,524
Amounts in the balance sheet	235,565	105,524
Collateralized Debt Obligations [Member]
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	200,656	169,626
Fair value	199,218	165,789
Amounts in the balance sheet	199,217	165,789
Other Debt Obligations [Member]
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	18,476	37,609
Fair value	18,644	37,761
Amounts in the balance sheet	18,645	37,761
Fixed Maturity Securities [Member]
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	2,973,276	2,969,541
Fair value	3,093,275	2,985,161
Amounts in the balance sheet	3,093,275	2,985,161
Common Stock [Member]
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	498,514	438,504
Fair value	586,367	430,973
Amounts in the balance sheet	586,367	430,973
Nonredeemable Preferred Stock [Member]
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	49,442	34,429
Fair value	49,708	31,433
Amounts in the balance sheet	49,708	31,433
Private Equity Funds [Member]
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	1,137	1,481
Fair value	1,203	1,445
Amounts in the balance sheet	1,203	1,445
Private Equity Funds Net Asset Value [Member]
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	99,189	69,668
Fair value	87,473	65,780
Amounts in the balance sheet	87,473	65,780
Equity Securities [Member]
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	648,282	544,082
Fair value	724,751	529,631
Amounts in the balance sheet	724,751	529,631
Short-term Investments [Member]
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	494,060	254,518
Fair value	494,135	253,299
Amounts in the balance sheet	$ 494,135	$ 253,299

Condensed Financial Informati_2

Condensed Financial Information of Registrant (Schedule Of Condensed Financial Information Of Registrant, Balance Sheets) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Investments, at fair value:
Short-term investments (cost $29,356; $3,166)	$ 494,135	$ 253,299
Total investments	4,312,161	3,768,091
Cash	294,398	314,291	$ 291,413	$ 220,318
Accrued investment income	40,107	45,373
Current income taxes	7,642	38,885
Other assets	44,247	45,008
Total assets	5,889,157	5,433,729
Liabilities
Notes payable	372,133	371,734
Accounts payable and accrued expenses	143,318	115,071
Deferred income taxes	27,964	0
Other liabilities	221,442	263,647
Total liabilities	4,089,655	3,816,045
Shareholders’ equity:
Common stock	98,828	98,026
Retained earnings	1,700,674	1,519,658
Total shareholders’ equity	1,799,502	1,617,684	1,761,387
Total liabilities and shareholders’ equity	5,889,157	5,433,729
Cost - equity security trading investments	648,282	544,082
Cost - short-term investments	494,060	254,518
Parent Company [Member]
Investments, at fair value:
Equity securities (cost $81,802; $110,279)	114,668	119,037
Short-term investments (cost $29,356; $3,166)	29,356	3,166
Investment in subsidiaries	2,008,163	1,850,582
Total investments	2,152,187	1,972,785
Cash	39,766	24,140	$ 8,475	$ 11,786
Accrued investment income	90	161
Amounts receivable from affiliates	244	1,172
Current income taxes	0	0
Income tax receivable from affiliates	9,192	19,225
Other assets	312	446
Total assets	2,201,791	2,017,929
Liabilities
Notes payable	372,133	371,734
Accounts payable and accrued expenses	17	25
Amounts payable to affiliates	22	3,082
Income tax payable to affiliates	4,106	580
Current income taxes	14,052	17,773
Deferred income taxes	7,059	1,691
Other liabilities	4,900	5,360
Total liabilities	402,289	400,245
Shareholders’ equity:
Common stock	98,828	98,026
Retained earnings	1,700,674	1,519,658
Total shareholders’ equity	1,799,502	1,617,684
Total liabilities and shareholders’ equity	2,201,791	2,017,929
Cost - equity security trading investments	81,802	110,279
Cost - short-term investments	$ 29,356	$ 3,166

Condensed Financial Informati_3

Condensed Financial Information of Registrant (Schedule Of Condensed Financial Information Of Registrant, Statements Of Operations) (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
Revenues:
Net investment income									$ 141,263	$ 135,838	$ 124,930
Net realized investment gains (losses)									222,793	(133,520)	83,650
Other									9,044	9,275	11,945
Total revenues									3,972,518	3,380,004	3,415,962
Expenses:
Other operating expenses									269,305	244,630	233,475
Interest									17,035	17,036	15,168
Total expenses									3,594,449	3,410,619	3,248,877
Income (loss) before income taxes	$ 28,465	$ 80,840	$ 101,595	$ 167,169	$ (114,448)	$ 70,286	$ 73,246	$ (59,699)	378,069	(30,615)	167,085
Income tax expense (benefit)									57,982	(24,887)	22,208
Net income (loss)	$ 31,688	$ 69,282	$ 83,250	$ 135,867	$ (81,879)	$ 58,578	$ 60,180	$ (42,607)	320,087	(5,728)	144,877
Parent Company [Member]
Revenues:
Net investment income									3,735	4,661	4,090
Net realized investment gains (losses)									31,682	(10,797)	19,279
Other									5	2	0
Total revenues									35,422	(6,134)	23,369
Expenses:
Other operating expenses									2,592	2,343	1,918
Interest									17,036	17,036	14,856
Total expenses									19,628	19,379	16,774
Income (loss) before income taxes									15,794	(25,513)	6,595
Income tax expense (benefit)									2,816	(5,144)	1,572
Income (loss) before equity in net income of subsidiaries									12,978	(20,369)	5,023
Equity in net income of subsidiaries									307,109	14,641	139,854
Net income (loss)									$ 320,087	$ (5,728)	$ 144,877

Condensed Financial Informati_4

Condensed Financial Information of Registrant (Schedule Of Condensed Financial Information Of Registrant, Statements Of Cash Flow) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net cash provided by operating activities	$ 519,678,000	$ 383,434,000	$ 341,405,000
Cash flows from investing activities:
Capital distribution from subsidiaries	5,200,000	6,000,000
Fixed maturity securities available for sale in nature:
Sales	136,560,000	189,306,000	100,709,000
Equity securities available for sale in nature
Purchases	(1,174,759,000)	(1,026,827,000)	(831,310,000)
Sales	1,088,701,000	954,755,000	679,571,000
Other, net	6,247,000	10,105,000	1,934,000
Net cash used in investing activities	(401,201,000)	(222,436,000)	(185,597,000)
Cash flows from financing activities:
Dividends paid to shareholders	(139,071,000)	(138,478,000)	(137,886,000)
Proceeds from stock options exercised	701,000	358,000	2,162,000
Net proceeds from issuance of senior notes	0	0	371,011,000
Payoff of principal on loan and credit facilities	0	0	(320,000,000)
Net cash used in financing activities	(138,370,000)	(138,120,000)	(84,713,000)
Net (decrease) increase in cash	(19,893,000)	22,878,000	71,095,000
Cash:
Beginning of year	314,291,000	291,413,000	220,318,000
End of year	294,398,000	314,291,000	291,413,000
SUPPLEMENTAL CASH FLOW DISCLOSURE
Interest paid	16,586,000	16,586,000	9,863,000
Income taxes (refunded) paid, net	(14,564,000)	(10,989,000)	25,218,000
Parent Company [Member]
Cash flows from operating activities:
Net cash provided by operating activities	(5,392,000)	(16,108,000)	(14,503,000)
Cash flows from investing activities:
Capital contribution to subsidiaries	(125,000)	(540,619)	(140,125,000)
Capital distribution from subsidiaries	30,068,567	0	0
Distributions received from special purpose entities	5,153,000	5,998,000	5,243,000
Dividends received from subsidiaries	114,431,000	135,000,000	109,000,000
Fixed maturity securities available for sale in nature:
Sales	0	0	1,614,000
Equity securities available for sale in nature
Purchases	(39,966,000)	(22,286,000)	(22,406,000)
Sales	74,663,000	33,052,000	18,876,000
Calls	0	0	4,000,000
(Increase) decrease in short-term investments	(25,213,000)	18,065,000	(20,607,000)
Other, net	376,000	605,000	310,000
Net cash used in investing activities	159,388,000	169,893,000	(44,095,000)
Cash flows from financing activities:
Dividends paid to shareholders	(139,071,000)	(138,478,000)	(137,886,000)
Proceeds from stock options exercised	701,000	358,000	2,162,000
Net proceeds from issuance of senior notes	0	0	371,011,000
Payoff of principal on loan and credit facilities	0	0	(180,000,000)
Net cash used in financing activities	(138,370,000)	(138,120,000)	55,287,000
Net (decrease) increase in cash	15,626,000	15,665,000	(3,311,000)
Cash:
Beginning of year	24,140,000	8,475,000	11,786,000
End of year	39,766,000	24,140,000	8,475,000
SUPPLEMENTAL CASH FLOW DISCLOSURE
Interest paid	16,586,000	16,586,000	9,435,000
Income taxes (refunded) paid, net	$ (12,391,000)	$ 4,296,000	$ 346,000

Condensed Financial Informati_5

Condensed Financial Information of Registrant Condensed Financial Information of Registrant (Narratives) (Details)

Mar. 29, 2017USD ($)

Mar. 08, 2017USD ($)

Feb. 13, 2014USD ($)

Aug. 09, 2013USD ($)

Jan. 31, 2017

Dec. 31, 2019USD ($)

Dec. 31, 2018USD ($)

Dec. 31, 2017USD ($)

Jul. 31, 2018

Jan. 31, 2018

Jul. 07, 2017

Dec. 31, 2016USD ($)

Condensed Financial Statements, Captions [Line Items]

Capital distribution from subsidiaries

$ 5,200,000

$ 6,000,000

Proceeds from dividends received

114,431,433

135,000,000

$ 109,000,000

Repayments of debt

$ 320,000,000

Swap [Member] | AFL [Member]

Condensed Financial Statements, Captions [Line Items]

Swap agreement collateral

$ 40,000,000

Notional amount

$ 152,000,000

Term of swap agreement

3 years

1 year

Swap [Member] | AFL [Member] | LIBOR [Member]

Condensed Financial Statements, Captions [Line Items]

Basis spread on variable rate

1.35%

1.28%

1.35%

1.28%

Swap [Member] | FFL [Member]

Condensed Financial Statements, Captions [Line Items]

Swap agreement collateral

$ 31,000,000

Notional amount

$ 100,000,000

Term of swap agreement

1 year

1 year

Swap [Member] | FFL [Member] | LIBOR [Member]

Condensed Financial Statements, Captions [Line Items]

Basis spread on variable rate

1.28%

1.28%

1.05%

1.20%

Unsecured Notes One [Member] | Unsecured Debt [Member]

Condensed Financial Statements, Captions [Line Items]

Unsecured debt

$ 375,000,000

Interest rate, stated percentage

4.40%

4.40%

Debt issuance costs

$ 3,400,000

Discount percent

99.847%

Interest rate, effective percentage

4.45%

Unsecured Notes Two [Member] | Revolving Credit Facility [Member]

Condensed Financial Statements, Captions [Line Items]

Loan maximum borrowing capacity

$ 50,000,000

Unsecured Notes Two [Member] | Unsecured Debt [Member]

Condensed Financial Statements, Captions [Line Items]

Unsecured debt

$ 0

Minimum [Member] | Revolving Credit Facility [Member]

Condensed Financial Statements, Captions [Line Items]

Debt to total capital ratio

0.15

Commitment fee on undrawn portion of facility

0.125%

Minimum [Member] | LIBOR [Member] | Revolving Credit Facility [Member]

Condensed Financial Statements, Captions [Line Items]

Basis spread on variable rate

1.125%

Debt to total capital ratio

0.15

Minimum [Member] | Unsecured Notes Two [Member] | Revolving Credit Facility [Member]

Condensed Financial Statements, Captions [Line Items]

Commitment fee on undrawn portion of facility

0.15%

Minimum [Member] | Unsecured Notes Two [Member] | Unsecured Debt [Member] | LIBOR [Member]

Condensed Financial Statements, Captions [Line Items]

Basis spread on variable rate

0.1125%

Maximum [Member] | Revolving Credit Facility [Member]

Condensed Financial Statements, Captions [Line Items]

Debt to total capital ratio

0.25

Commitment fee on undrawn portion of facility

0.225%

Maximum [Member] | LIBOR [Member] | Revolving Credit Facility [Member]

Condensed Financial Statements, Captions [Line Items]

Basis spread on variable rate

1.625%

Debt to total capital ratio

0.25

Maximum [Member] | Unsecured Notes Two [Member] | Revolving Credit Facility [Member]

Condensed Financial Statements, Captions [Line Items]

Debt to total capital ratio

0.172

Maximum [Member] | Unsecured Notes Two [Member] | Unsecured Debt [Member] | LIBOR [Member]

Condensed Financial Statements, Captions [Line Items]

Basis spread on variable rate

0.1625%

Parent Company [Member]

Condensed Financial Statements, Captions [Line Items]

Capital distribution from subsidiaries

$ 30,068,567

$ 0

$ 0

Payments for contributions to subsidiaries

$ 125,000

$ 540,619

$ 140,125,000

Supplemental Reinsurance Prem_2

Supplemental Reinsurance Premiums (Schedule of Property and Liability Insurance Earned Premiums) (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
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract]
Direct amounts									$ 3,655,233	$ 3,416,687	$ 3,221,493
Ceded to other companies									(56,725)	(48,941)	(26,881)
Assumed									910	665	825
Net amounts	$ 925,384	$ 915,012	$ 888,776	$ 870,245	$ 868,233	$ 858,135	$ 833,959	$ 808,084	$ 3,599,418	$ 3,368,411	$ 3,195,437