Mercury General (MCY) 10-K 16 Feb 21 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2020	Feb. 11, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
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
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 1,079,757,233
Entity Common Stock, Shares Outstanding		55,357,691
Documents Incorporated by Reference	Certain information from the registrant’s definitive proxy statement for the 2021 Annual Meeting of Shareholders is incorporated herein by reference into Part III hereof.
Amendment Flag	false
Document Fiscal Year Focus	2020
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, 2020	Dec. 31, 2019
Investments, at fair value:
Fixed maturity securities (amortized cost $3,388,418; $2,973,276)	$ 3,549,810	$ 3,093,275
Equity securities (cost $695,150; $648,282)	803,851	724,751
Short-term investments (cost $376,547; $494,060)	375,609	494,135
Total investments	4,729,270	4,312,161
Cash	348,479	294,398
Receivables:
Premiums	599,070	606,316
Allowance for credit losses on premiums receivable	(10,000)	(1,445)
Premiums receivable, net of allowance for credit losses	589,070	604,871
Accrued investment income	42,985	40,107
Other	10,730	6,464
Total receivables	642,785	651,442
Reinsurance recoverables	48,579	78,774
Allowance for credit losses on reinsurance recoverables	(91)	0
Reinsurance recoverables, net of allowance for credit losses	48,488	78,774
Deferred policy acquisition costs	246,994	233,166
Fixed assets, net	178,923	168,986
Operating lease right-of-use assets	40,554	44,909
Current income taxes	0	7,642
Goodwill	42,796	42,796
Other intangible assets, net	11,322	10,636
Other assets	38,635	44,247
Total assets	6,328,246	5,889,157
Liabilities
Loss and loss adjustment expense reserves	1,991,304	1,921,255
Unearned premiums	1,405,873	1,355,547
Notes payable	372,532	372,133
Accounts payable and accrued expenses	194,421	143,318
Operating lease liabilities	43,825	47,996
Current income taxes	10,426	0
Deferred income taxes	41,132	27,964
Other liabilities	236,136	221,442
Total liabilities	4,295,649	4,089,655
Commitments and contingencies
Shareholders’ equity:
Authorized 70,000 shares; issued and outstanding 55,358; 55,358	98,970	98,828
Retained earnings	1,933,627	1,700,674
Total shareholders’ equity	2,032,597	1,799,502
Total liabilities and shareholders’ equity	$ 6,328,246	$ 5,889,157

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Amortized cost on fixed maturities trading investments	$ 3,388,418	$ 2,973,276
Cost - equity security trading investments	695,150	648,282
Cost - short-term investments	$ 376,547	$ 494,060
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	55,358,000
Common stock, shares outstanding (in shares)	55,358,000	55,358,000

Consolidated Statements Of Oper

Consolidated Statements Of Operations - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Net premiums earned	$ 921,860	$ 899,304	$ 811,897	$ 922,574	$ 925,384	$ 915,012	$ 888,776	$ 870,245	$ 3,555,635	$ 3,599,418	$ 3,368,411
Net investment income									134,858	141,263	135,838
Net realized investment gains (losses)									85,731	222,793	(133,520)
Other									8,287	9,044	9,275
Total revenues									3,784,511	3,972,518	3,380,004
Expenses:
Losses and loss adjustment expenses									2,395,343	2,706,024	2,576,789
Policy acquisition costs									627,788	602,085	572,164
Other operating expenses									285,831	269,305	244,630
Interest									17,048	17,035	17,036
Total expenses									3,326,010	3,594,449	3,410,619
Income (loss) before income taxes	207,110	146,631	285,466	(180,705)	28,465	80,840	101,595	167,169	458,501	378,069	(30,615)
Income tax expense (benefit)									83,894	57,982	(24,887)
Net income (loss)	$ 166,743	$ 118,857	$ 228,211	$ (139,204)	$ 31,688	$ 69,282	$ 83,250	$ 135,867	$ 374,607	$ 320,087	$ (5,728)
Net income (loss) per share:
Basic (in dollars per share)	$ 3.01	$ 2.15	$ 4.12	$ (2.51)	$ 0.57	$ 1.25	$ 1.50	$ 2.46	$ 6.77	$ 5.78	$ (0.10)
Diluted (in dollars per share)	$ 3.01	$ 2.15	$ 4.12	$ (2.51)	$ 0.57	$ 1.25	$ 1.50	$ 2.45	$ 6.77	$ 5.78	$ (0.10)

Consolidated Statements Of Shar

Consolidated Statements Of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Retained Earnings [Member]	Retained Earnings [Member]Cumulative Effect, Period of Adoption, Adjustment	Retained Earnings [Member]Cumulative Effect, Period of Adoption, Adjusted Balance
Beginning of year at Dec. 31, 2017		$ 97,523	$ 1,663,864	$ 0	$ 1,663,864
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Proceeds of stock options exercised		358
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	0	1,519,658
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Proceeds of stock options exercised		701
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		$ 1,698,660
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Proceeds of stock options exercised		0
Share-based compensation expense		142
Withholding tax on stock options exercised		0
Net income (loss)	374,607		374,607
Dividends paid to shareholders			(139,640)
End of year at Dec. 31, 2020	$ 2,032,597	$ 98,970	$ 1,933,627	$ (2,014)

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 374,607	$ 320,087	$ (5,728)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	68,463	64,730	58,791
Net realized investment (gains) losses	(85,731)	(222,793)	133,520
Decrease (increase) in premiums receivable	13,946	(49,832)	(80,979)
Decrease (increase) in reinsurance recoverables	30,127	142,314	(164,739)
Changes in current and deferred income taxes	31,236	72,545	(13,898)
Increase in deferred policy acquisition costs	(13,828)	(18,035)	(16,980)
Increase in loss and loss adjustment expense reserves	70,049	91,843	318,799
Increase in unearned premiums	50,326	119,366	134,254
Increase in accounts payable and accrued expenses	51,988	26,493	6,586
Share-based compensation	142	123	145
Other, net	14,291	(27,163)	13,663
Net cash provided by operating activities	605,616	519,678	383,434
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale [Abstract]
Purchases	(878,213)	(491,795)	(706,224)
Proceeds from Sale of Debt Securities, Available-for-sale	168,087	136,560	189,306
Calls or maturities	250,878	316,860	334,626
Equity securities available for sale in nature
Purchases	(1,230,785)	(1,174,759)	(1,026,827)
Sales	1,174,540	1,088,701	954,755
Calls	3,880	0	0
Changes in securities payable and receivable	873	(2,536)	4,035
Decrease (increase) in short-term investments	118,830	(240,391)	45,747
Purchase of fixed assets	(39,953)	(40,088)	(27,959)
Other, net	20,577	6,247	10,105
Net cash used in investing activities	(411,286)	(401,201)	(222,436)
CASH FLOWS FROM FINANCING ACTIVITIES
Dividends paid to shareholders	(139,640)	(139,071)	(138,478)
Proceeds from stock options exercised	0	701	358
Payments on finance lease obligations	(609)	0
Net cash used in financing activities	(140,249)	(138,370)	(138,120)
Net increase (decrease) in cash	54,081	(19,893)	22,878
Cash:
Beginning of year	294,398	314,291	291,413
End of year	348,479	294,398	314,291
SUPPLEMENTAL CASH FLOW DISCLOSURE
Interest paid	16,599	16,586	16,586
Income taxes paid (refunded), net	$ 52,659	$ (14,564)	$ (10,989)

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
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 70% of the Company’s direct premiums written in 2020, 2019, and 2018, and approximately 88%, 88%, and 87% of the private passenger automobile premiums were written in California in 2020, 2019, and 2018, 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 2020, 2019 and 2018. 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. From time to time, 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, 2020 and 2019. 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 entities 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 of its investment that is included in equity securities in the Company's consolidated balance sheets. At December 31, 2020 and 2019, 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 $15 million and $16 million at December 31, 2020 and 2019, 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, 2020 2019 2018 (Amounts in millions) Deferred policy acquisition cost amortization $ 627.8 $ 602.1 $ 572.2 Net advertising expense 37.7 42.2 40.9 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 2020, 2019, and 2018. 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, 2020 and 2019, 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 $3.61 billion, $3.73 billion, and $3.50 billion in 2020, 2019, and 2018, respectively. The Company's net premiums written in 2020 were reduced by approximately $128 million due to premium refunds and credits to its eligible policyholders associated with the "Mercury Giveback" program for reduced driving and business activities following the outbreak of the COVID-19 pandemic. 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. 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, 2020 and 2019, 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, 2020, 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. Reinsurance recoverables on unpaid losses are estimated based upon assumptions consistent with those used in establishing the liabilities related to the underlying contracts. Most of the Company's reinsurance premiums are recognized ratably over the contract period to the extent coverage remains available. Net premiums earned and losses and loss adjustment expenses are stated net of deductions for ceded reinsurance. The Company is the assuming reinsurer under a Catastrophe Participation Reinsurance Contract ("Contract") effective through December 31, 2021. The Company reimburses up to $31 million in losses for a proportional share of a portfolio of catastrophe losses under the Contract, to the extent the actual loss ratio exceeds the threshold loss ratio of 71%. If the actual loss ratio is less than the threshold loss ratio, the Company is eligible to receive a certain portion of the underwriting profit. The Company is party to a Catastrophe Reinsurance Treaty ("Treaty") covering a wide range of perils that is effective through June 30, 2021. The Treaty provides $717 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. The Treaty provides for one full reinstatement of coverage limits with a minor exception at the top coverage layer, and includes some additional minor territorial and coverage limits. The effect of reinsurance on property and casualty premiums written and earned was as follows: Year Ended December 31, 2020 2019 2018 (Amounts in thousands) Premiums Written Direct $ 3,624,965 $ 3,742,627 $ 3,524,186 Ceded (50,630) (43,785) (55,973) Assumed 8,012 919 689 Net $ 3,582,347 $ 3,699,761 $ 3,468,902 Premiums Earned Direct $ 3,574,898 $ 3,626,857 $ 3,386,192 Ceded (56,212) (56,725) (48,941) Assumed 8,067 910 665 Net $ 3,526,753 $ 3,571,042 $ 3,337,916 The Company recognized ceded premiums earned of approximately $56 million, $57 million, and $49 million in 2020, 2019, and 2018, respectively, which are included in net premiums earned in its consolidated statements of operations, and ceded losses and loss adjustment expenses of approximately $(28) million, $(71) million, and $257 million in 2020, 2019, and 2018, 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 2020 were mainly due to the reimbursements from Pacific Gas and Electric Corporation ("PG&E") Subrogation Trust Fund to the Company for certain claims paid to its policyholders related to wildfires in recent past years, in accordance with PG&E's Plan of Reorganization approved by the United States Bankruptcy Court. These loss recoveries from PG&E were ceded to the Company's reinsurers as the original losses had previously been ceded to its reinsurers under the Treaty. 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 had 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 $18.0 million, $16.3 million and $16.0 million, with related expenses of approximately $11.8 million, $10.5 million and $10.5 million, for the years ended December 31, 2020, 2019 and 2018, respectively. 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, 2020 and 2019 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, 2020 and 2019 was approximately $0.9 million and $0.7 million, respectively, which was included in other liabilities in the Company's consolidated balance sheets. As of December 31, 2020 and 2019, the Company had no contract assets, contract liabilities, capitalized costs to obtain or fulfill a contract, or remaining performance obligations associated with unrecognized revenues. Capitalized Implementation Costs for Cloud Computing Arrangements On January 1, 2020, the Company adopted 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, " on a prospective basis, which provides guidance that requires capitalizing and amortizing certain of the implementation costs. The majority of the Company's cloud computing arrangements relate to service contracts with third parties that host the Company's data and computing infrastructure that are used in providing services to and supporting transactions with its existing or potential policyholders and insurance agents. The balance of capitalized implementation costs for cloud computing arrangements, net of accumulated amortization, was $4.8 million and $4.4 million at December 31, 2020 and December 31, 2019, respectively, which is included in other assets in the Company's consolidated balance sheets. The accumulated amortization was $2.1 million and $0.3 million at December 31, 2020 and December 31, 2019, respectively. The total amortization expense related to such capitalized implementation costs was $1.8 mi

Financial Instruments

Financial Instruments	12 Months Ended
	Dec. 31, 2020
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, accounts payable, and unsecured 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, 2020 2019 (Amounts in thousands) Assets Investments $ 4,729,270 $ 4,312,161 Note receivable 5,725 5,665 Liabilities Options sold — 77 Unsecured notes 415,253 394,279 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 and unrealized 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. Unsecured Notes The fair value of the Company’s publicly traded $375 million unsecured notes at December 31, 2020 and 2019 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, 2020
Investments [Abstract]
Investment	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, 2020 2019 2018 (Amounts in thousands) Fixed maturity securities $ 41,394 $ 104,379 $ (53,927) Equity securities 32,232 90,920 (77,494) Short-term investments (1,014) 1,295 (1,237) Total gains (losses) $ 72,612 $ 196,594 $ (132,658) The following table presents gross gains (losses) realized on the sales of investments: Year Ended December 31, 2020 2019 2018 (Amounts in thousands) Gross Gross Net Gross Gross Net Gross Gross Net Fixed maturity securities $ 1,884 $ (4,296) $ (2,412) $ 2,413 $ (1,066) $ 1,347 $ 549 $ (3,563) $ (3,014) Equity securities 75,591 (80,134) (4,543) 47,411 (28,089) 19,322 43,420 (45,607) (2,187) Short-term investments 146 (2,438) (2,292) 177 (2,133) (1,956) 61 (2,429) (2,368) Contractual Maturity At December 31, 2020, 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, 2020 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 $ 246,708 Due after one year through five years 693,068 Due after five years through ten years 540,052 Due after ten years 2,069,982 Total $ 3,549,810 Investment Income The following table presents a summary of net investment income: Year Ended December 31, 2020 2019 2018 (Amounts in thousands) Fixed maturity securities $ 100,166 $ 102,254 $ 102,198 Equity securities 37,598 32,233 30,496 Short-term investments 2,822 12,381 8,789 Total investment income $ 140,586 $ 146,868 $ 141,483 Less: investment expense (5,728) (5,605) (5,645) Net investment income $ 134,858 $ 141,263 $ 135,838

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2020
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 98.3% 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, 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 at December 31, 2019. The Company reclassified this fund from Level 3 to private equity funds measured at net asset value ("NAV") at March 31, 2020, due to the use of the practical expedient based on NAV in measuring the fair value of the fund. 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 $17.6 million and $18.9 million in commercial mortgage-backed securities at December 31, 2020 and 2019, 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. 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 was not measured at NAV was 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 two of the three such funds with a fair value of approximately $78.2 million at December 31, 2020 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 strategy of the other such fund with a fair value of approximately $1.2 million at December 31, 2020 is to achieve favorable long-term financial returns and measurable positive social and environmental returns by investing in privately held technology, healthcare, specialty consumer goods and service companies. The Company has made all of its capital contributions in such funds and had no outstanding unfunded commitments at December 31, 2020 with respect to the funds. The underlying assets of the funds are expected to be liquidated over the period of approximately one year to nine years from December 31, 2020. 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, 2020 Level 1 Level 2 Level 3 Total (Amounts in thousands) Assets Fixed maturity securities: U.S. government bonds $ 13,816 $ — $ — $ 13,816 Municipal securities — 2,791,212 — 2,791,212 Mortgage-backed securities — 93,264 — 93,264 Corporate securities — 241,366 — 241,366 Collateralized loan obligations — 256,891 — 256,891 Other asset-backed securities — 153,261 — 153,261 Total fixed maturity securities 13,816 3,535,994 — 3,549,810 Equity securities: Common stock 691,782 — — 691,782 Non-redeemable preferred stock — 32,660 — 32,660 Private equity funds measured at net asset value (1) 79,409 Total equity securities 691,782 32,660 — 803,851 Short-term investments: Short-term bonds 21,999 4,929 — 26,928 Money market instruments 348,676 — — 348,676 Other 5 — — 5 Total short-term investments 370,680 4,929 — 375,609 Other assets: Note receivable — 5,725 — 5,725 Total assets at fair value $ 1,076,278 $ 3,579,308 $ — $ 4,734,995 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 debt 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 fund 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 __________ (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, 2020 2019 (Amounts in thousands) Beginning balance $ 1,203 $ 1,445 Net realized (losses) gains included in earnings (1) 101 Settlements — (343) Transfer out (1) (1,202) — Ending balance $ — $ 1,203 The amount of total gains for the period included in earnings attributable to assets still held at December 31 $ — $ 93 __________ (1) The private equity fund was reclassified from Level 3 to private equity funds measured at net asset value due to the use of the NAV practical expedient in measuring the fair value of the fund at March 31, 2020. There were no transfers between Levels 1, 2, and 3 of the fair value hierarchy in 2020 and 2019. A private equity fund was reclassified from Level 3 to private equity funds measured at net asset value at March 31, 2020, as described above. At December 31, 2020 and 2019, 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, 2020 Carrying Value Fair Value Level 1 Level 2 Level 3 (Amounts in thousands) Liabilities Notes payable: Unsecured notes $ 372,532 $ 415,253 $ — $ 415,253 $ — 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 $ — Unsecured Notes

Fixed Assets

Fixed Assets	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Fixed Assets	Fixed Assets The following table presents the components of fixed assets: December 31, 2020 2019 (Amounts in thousands) Land $ 18,152 $ 18,152 Buildings and improvements 139,274 140,567 Furniture and equipment 46,450 70,355 Capitalized software 254,066 244,425 Leasehold improvements 7,004 7,547 464,946 481,046 Less: accumulated depreciation and amortization (286,023) (312,060) Fixed assets, net $ 178,923 $ 168,986 Depreciation expense, including amortization of leasehold improvements, was $28.0 million, $23.2 million, and $19.9 million for 2020, 2019, and 2018, 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 was originally set to mature on August 31, 2020. Effective August 1, 2020, the maturity date was extended to August 31, 2021,

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs	12 Months Ended
	Dec. 31, 2020
Deferred Policy Acquisition Costs Disclosures [Abstract]
Deferred Policy Acquisition Costs	Deferred Policy Acquisition Costs Deferred policy acquisition costs were as follows: December 31, 2020 2019 2018 (Amounts in thousands) Balance, beginning of year $ 233,166 $ 215,131 $ 198,151 Policy acquisition costs deferred 641,616 620,120 589,144 Amortization (627,788) (602,085) (572,164) Balance, end of year $ 246,994 $ 233,166 $ 215,131

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2020
Notes Payable [Abstract]
Notes Payable	Notes Payable The following table presents information about the Company's notes payable: December 31, Lender Interest Rate Expiration 2020 2019 (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) 2,468 2,867 Total $ 372,532 $ 372,133 __________ (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 15.6% at December 31, 2020, resulting in a 15 basis point commitment fee on the $50 million undrawn portion of the credit facility. As of February 16, 2021, 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, 2020. Debt maturities for each of the next five years and thereafter as of December 31, 2020 are as follows: Maturity Amounts (in thousands) 2021 $ — 2022 — 2023 — 2024 — 2025 — Thereafter 375,000 Total $ 375,000

Leases

Leases	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Leases	Leases 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. In addition, the Company has finance leases for electronic data processing ("EDP") equipment. As of December 31, 2020, the Company's leases had remaining terms ranging from less than 1 year to approximately 7 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 adopted ASU 2016-02, "Leases (Topic 842)," on January 1, 2019, using a modified retrospective transition method. Under this transition method, its financial results reported in periods prior to 2019 were unchanged. The Company determines if an arrangement is a lease at inception. Right-of-use ("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. Lease 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 leases for office space, office equipment and EDP equipment, 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 leases for office space, automobiles, and office equipment, while it accounts for the lease components separately from the non-lease components for EDP equipment leases. The components of lease cost along with its classification on the Company's consolidated statements of operations were as follows: Year Ended December 31, Lease Cost Classification 2020 2019 (Amounts in thousands) Operating lease cost (1) Other operating expenses $ 15,814 $ 15,146 Finance lease cost: Amortization of assets Other operating expenses 338 — Interest on lease liabilities Interest expense 13 — Variable lease cost (1) Other operating expenses 1,697 2,196 Total lease cost 17,862 17,342 __________ (1) Includes short-term leases, which are immaterial. Total rent expense recognized under the Company's various operating lease agreements was $14.9 million for the year ended December 31, 2018. The components of lease assets and liabilities along with their classification on the Company's consolidated balance sheets were as follows: December 31, Lease Assets and Liabilities Classification 2020 2019 (Amounts in thousands) Operating lease assets Operating lease right-of-use assets $ 40,554 $ 44,909 Operating lease liabilities Operating lease liabilities 43,825 47,996 Finance lease assets Other assets 3,107 — Finance lease liabilities Other liabilities 2,836 — Weighted-average lease term and discount rate were as follows: December 31, 2020 2019 Weighted-average remaining lease term (in years): Operating leases 3.8 4.4 Finance leases 5.1 — Weighted-average discount rate: Operating leases 2.82 % 3.02 % Finance leases 0.82 % — Supplemental cash flow and other information related to leases was as follows: Year Ended December 31, 2020 2019 (Amounts in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 15,539 $ 14,289 Operating cash flows from finance leases 13 — Financing cash flows from finance leases 609 — ROU assets obtained in exchange for lease liabilities: Operating leases 8,673 15,372 Finance leases 3,047 — Maturities of lease liabilities as of December 31, 2020 were as follows: Year Operating Leases Finance Leases (Amounts in thousands) 2021 15,370 622 2022 12,739 622 2023 8,095 622 2024 4,388 622 2025 2,832 398 2026 and thereafter $ 2,985 $ — Total lease payments $ 46,409 $ 2,886 Less: Imputed interest 2,584 50 Total lease obligations $ 43,825 $ 2,836 As of December 31, 2020, the Company had additional lease commitments that have not yet commenced of approximately $5 million with each lease term ranging from approximately 3 years to 4 years. These leases will commence in 2021.
Lessee, Finance Leases	Leases 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. In addition, the Company has finance leases for electronic data processing ("EDP") equipment. As of December 31, 2020, the Company's leases had remaining terms ranging from less than 1 year to approximately 7 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 adopted ASU 2016-02, "Leases (Topic 842)," on January 1, 2019, using a modified retrospective transition method. Under this transition method, its financial results reported in periods prior to 2019 were unchanged. The Company determines if an arrangement is a lease at inception. Right-of-use ("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. Lease 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 leases for office space, office equipment and EDP equipment, 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 leases for office space, automobiles, and office equipment, while it accounts for the lease components separately from the non-lease components for EDP equipment leases. The components of lease cost along with its classification on the Company's consolidated statements of operations were as follows: Year Ended December 31, Lease Cost Classification 2020 2019 (Amounts in thousands) Operating lease cost (1) Other operating expenses $ 15,814 $ 15,146 Finance lease cost: Amortization of assets Other operating expenses 338 — Interest on lease liabilities Interest expense 13 — Variable lease cost (1) Other operating expenses 1,697 2,196 Total lease cost 17,862 17,342 __________ (1) Includes short-term leases, which are immaterial. Total rent expense recognized under the Company's various operating lease agreements was $14.9 million for the year ended December 31, 2018. The components of lease assets and liabilities along with their classification on the Company's consolidated balance sheets were as follows: December 31, Lease Assets and Liabilities Classification 2020 2019 (Amounts in thousands) Operating lease assets Operating lease right-of-use assets $ 40,554 $ 44,909 Operating lease liabilities Operating lease liabilities 43,825 47,996 Finance lease assets Other assets 3,107 — Finance lease liabilities Other liabilities 2,836 — Weighted-average lease term and discount rate were as follows: December 31, 2020 2019 Weighted-average remaining lease term (in years): Operating leases 3.8 4.4 Finance leases 5.1 — Weighted-average discount rate: Operating leases 2.82 % 3.02 % Finance leases 0.82 % — Supplemental cash flow and other information related to leases was as follows: Year Ended December 31, 2020 2019 (Amounts in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 15,539 $ 14,289 Operating cash flows from finance leases 13 — Financing cash flows from finance leases 609 — ROU assets obtained in exchange for lease liabilities: Operating leases 8,673 15,372 Finance leases 3,047 — Maturities of lease liabilities as of December 31, 2020 were as follows: Year Operating Leases Finance Leases (Amounts in thousands) 2021 15,370 622 2022 12,739 622 2023 8,095 622 2024 4,388 622 2025 2,832 398 2026 and thereafter $ 2,985 $ — Total lease payments $ 46,409 $ 2,886 Less: Imputed interest 2,584 50 Total lease obligations $ 43,825 $ 2,836 As of December 31, 2020, the Company had additional lease commitments that have not yet commenced of approximately $5 million with each lease term ranging from approximately 3 years to 4 years. These leases will commence in 2021.

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2020
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 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. 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, 2020 December 31, 2019 (Amounts in thousands) Options sold - Other liabilities $ — $ 77 Total derivatives $ — $ 77 Gains (Losses) Recognized in Income Year Ended December 31, 2020 2019 2018 (Amounts in thousands) Total return swaps - Net realized investment gains (losses) $ — $ 1,039 $ (3,783) Options sold - Net realized investment gains (losses) 22,306 6,339 10,498 Total $ 22,306 $ 7,378 $ 6,715 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, 2020
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 2020 and 2019. No accumulated goodwill impairment losses existed at December 31, 2020 and 2019. Goodwill is reviewed annually for impairment and more frequently if potential impairment indicators exist. No impairment indicators were identified during 2020 and 2019. The Company considered the potential impact of the COVID-19 pandemic on the market factors affecting the fair values of the reporting units in its annual impairment review in 2020 and determined such factors did not indicate a goodwill impairment for any of the reporting units with goodwill. 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 Accumulated Net Carrying Useful Lives (Amounts in thousands) (in years) As of December 31, 2020 Customer relationships $ 54,862 $ (52,640) $ 2,222 11 Trade names 15,400 (7,700) 7,700 24 Technology 4,300 (4,300) — 10 Insurance license 1,400 — 1,400 Indefinite Total intangible assets, net $ 75,962 $ (64,640) $ 11,322 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 Other intangible assets are reviewed annually for impairment and more frequently if potential impairment indicators exist. No impairment indicators were identified during 2020 and 2019. Other intangible assets with definite useful lives are amortized on a straight-line basis over their useful lives. Other intangible assets amortization expense was $1.0 million, $5.1 million, and $5.5 million for the years ended December 31, 2020, 2019 and 2018, 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, 2020: Year Ending December 31, Amortization Expense (Amounts in thousands) 2021 $ 1,067 2022 1,043 2023 879 2024 851 2025 807 Thereafter 5,275 Total $ 9,922

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
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, 2020 2019 2018 (Amounts in thousands) Federal Current $ 69,554 $ 18,109 $ 14,190 Deferred 12,340 40,413 (39,244) $ 81,894 $ 58,522 $ (25,054) State Current $ 1,172 $ (1,430) $ 1,982 Deferred 828 890 (1,815) $ 2,000 $ (540) $ 167 Total Current $ 70,726 $ 16,679 $ 16,172 Deferred 13,168 41,303 (41,059) Total $ 83,894 $ 57,982 $ (24,887) 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 Tax Cuts and Jobs Act of 2017 (the "Act") changed the prescribed interest rates to rates based on corporate bond yield curves and extended 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, 2020 and 2019, the balance of the deferred tax liability related to changes in discounting of unpaid losses was $5.6 million, and $6.7 million, respectively. 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, 2020 2019 2018 (Amounts in thousands) Computed tax expense (benefit) at 21% $ 96,285 $ 79,394 $ (6,429) Tax-exempt interest income (12,270) (12,909) (13,507) Dividends received deduction (1,335) (1,276) (1,082) State tax (benefit) expense 1,678 (869) 439 Nondeductible expenses 983 526 390 Change in federal tax contingency reserve — (2,588) — Reversal of AMT credit reduction (1) — — (4,088) Other, net (1,447) (4,296) (610) Income tax expense (benefit) $ 83,894 $ 57,982 $ (24,887) __________ (1) As a result of a determination made by the Office of Management and Budget in 2018, the Company reversed the previously recorded provisional 6.6% sequestration reduction to its alternative minimum tax (“AMT”) credit, which originally resulted from repeal of the corporate AMT and reclassification of AMT credit carryforwards to current taxes receivable as a refundable credit. 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, 2020 2019 (Amounts in thousands) Deferred tax assets: 20% of net unearned premiums $ 61,067 $ 58,448 Discounting of loss reserves and salvage and subrogation recoverable for tax purposes 15,090 12,769 Write-down of impaired investments 293 314 Expense accruals 14,432 8,099 Other deferred tax assets 6,401 3,348 Total gross deferred tax assets 97,283 82,978 Deferred tax liabilities: Deferred policy acquisition costs (51,869) (48,964) Tax liability on net unrealized gain on securities carried at fair value (56,531) (41,273) Tax depreciation in excess of book depreciation (12,632) (8,105) Undistributed earnings of insurance subsidiaries (3,382) (2,855) Tax amortization in excess of book amortization (4,666) (3,264) Other deferred tax liabilities (9,335) (6,481) Total gross deferred tax liabilities (138,415) (110,942) Net deferred tax liabilities $ (41,132) $ (27,964) 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 $1.4 million decrease to the total amount of unrecognized tax benefits related to tax uncertainties during 2020. The decrease was the result of a payment of an assessment related to a California Franchise Tax Board (“FTB”) audit for tax years 2014 through 2016. 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 2017 through 2019 for federal taxes, and 2011 through 2013 and 2017 through 2019 for California state taxes. For tax years 2014 through 2016, the Company received Notices of Proposed Assessments (“NPAs”) related to the Company’s California apportionment factor and paid the total assessment with interest to the FTB in the third quarter of 2020. For tax years 2011 through 2013, the Company received NPAs and submitted a formal protest to the FTB in 2018. For tax years 2017 through 2019, the FTB initiated its examination in the fourth quarter of 2020. 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. The Company believes that the resolution of these examinations and assessments will not have a material impact on the financial position of the Company. The following table presents a reconciliation of the beginning and ending balances of unrecognized tax benefits: December 31, 2020 2019 (Amounts in thousands) Balance at January 1 $ 6,051 $ 10,615 Additions (reductions) based on tax positions related to: Current year — — Prior years (1,417) (4,564) Balance at December 31 $ 4,634 $ 6,051 If unrecognized tax benefits were recognized, $6.2 million and $7.2 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, 2020 and 2019, 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 $0.2 million, $(0.1) million, and $0.5 million for the years ended December 31, 2020, 2019 and 2018, respectively. The net benefit for the year ended 2019 was largely due to the reversal of accrued interest and penalty following the updates from the FTB for tax years 2014 through 2016. The Company carried an accrued interest and penalty balance of approximately $3.1 million and $2.8 million at December 31, 2020 and 2019, respectively.

Loss And Loss Adjustment Expens

Loss And Loss Adjustment Expense Reserves	12 Months Ended
	Dec. 31, 2020
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, 2020 2019 2018 (Amounts in thousands) Gross reserves at January 1 $ 1,921,255 $ 1,829,412 $ 1,510,613 Reinsurance recoverables on unpaid losses (76,100) (180,859) (64,001) Cumulative effect of adopting ASU 2016-13 149 — — Reinsurance recoverables on unpaid losses, as adjusted (75,951) (180,859) (64,001) Net reserves at January 1, as adjusted 1,845,304 1,648,553 1,446,612 Incurred losses and loss adjustment expenses related to: Current year 2,372,364 2,696,230 2,483,693 Prior years 22,979 9,794 93,096 Total incurred losses and loss adjustment expenses 2,395,343 2,706,024 2,576,789 Loss and loss adjustment expense payments related to: Current year 1,366,661 1,651,550 1,543,828 Prior years 937,142 857,872 831,020 Total payments 2,303,803 2,509,422 2,374,848 Net reserves at December 31 1,936,844 1,845,155 1,648,553 Reinsurance recoverables on unpaid losses 54,460 76,100 180,859 Gross reserves at December 31 $ 1,991,304 $ 1,921,255 $ 1,829,412 The increase in the provision for insured events of prior years in 2020 of approximately $23.0 million primarily resulted from higher than estimated losses and loss adjustment expenses in the homeowners and commercial automobile lines of insurance business, partially offset by favorable development in the private passenger automobile line of insurance business. 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 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 Company recorded catastrophe losses net of reinsurance of approximately $64 million, $53 million, and $67 million in 2020, 2019, and 2018, respectively. Catastrophe losses due to the catastrophe events that occurred in 2020 totaled approximately $69 million, w ith no reinsurance benefits used for these losses, resulting primarily from wildfires and windstorms in California and extreme weather events outside of California. These losses were partially offset by favorable development of approximately $5 million on prior years' catastrophe losses. Catastrophe losses before reinsurance benefits totaled approximately $57 million in 2019, 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. Catastrophe losses before reinsurance benefits totaled approximately $289 million in 2018, resulting primarily from wildfires in Northern and Southern California and weather-related catastrophes across several states. 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, 2020, 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, 2011 to 2019 is presented as unaudited supplementary information. Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance (Automobile Insurance) As of December 31, 2020 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, 2011 (1) 2012 (1) 2013 (1) 2014 (1) 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (1) 2020 (Amounts in thousands) (Amounts in thousands) 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 $ 1,401,543 $ 59 181 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 1,440,537 116 181 2013 1,448,567 1,431,058 1,447,881 1,458,421 1,464,071 1,468,294 1,468,237 1,468,747 816 185 2014 1,467,175 1,454,366 1,473,545 1,486,322 1,498,504 1,501,075 1,501,713 718 180 2015 1,551,105 1,588,443 1,610,839 1,634,435 1,645,950 1,649,170 4,577 170 2016 1,672,853 1,669,642 1,713,696 1,731,997 1,732,410 8,206 155 2017 1,703,857 1,727,277 1,741,825 1,733,425 22,626 149 2018 1,781,817 1,773,502 1,785,071 60,829 146 2019 1,916,269 1,911,268 165,108 147 2020 1,514,551 407,969 85 Total $ 16,138,435 __________ (1) The information for the years 2011 to 2019 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 2011 (1) 2012 (1) 2013 (1) 2014 (1) 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (1) 2020 (Amounts in thousands) 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 $ 1,401,592 2012 955,647 1,194,648 1,304,511 1,372,828 1,409,911 1,422,705 1,434,956 1,438,686 1,440,482 2013 974,445 1,217,906 1,340,724 1,413,999 1,447,004 1,460,352 1,464,277 1,466,356 2014 967,481 1,231,413 1,358,472 1,432,472 1,476,944 1,490,366 1,496,814 2015 1,040,253 1,336,223 1,466,368 1,560,480 1,614,188 1,634,780 2016 1,094,006 1,395,199 1,554,217 1,656,192 1,699,069 2017 1,076,079 1,399,202 1,561,850 1,648,328 2018 1,082,127 1,417,637 1,588,049 2019 1,134,859 1,494,342 2020 825,398 Total $ 14,695,210 All outstanding liabilities before 2011, net of reinsurance (531) Loss and allocated loss adjustment expense reserves, net of reinsurance $ 1,442,694 __________ (1) The information for the years 2011 to 2019 is presented as unaudited supplemental information. Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance (Homeowners' Insurance) As of December 31, 2020 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, 2011 (1) 2012 (1) 2013 (1) 2014 (1) 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (1) 2020 (Amounts in thousands) (Amounts in thousands) 2011 $ 167,414 $ 170,623 $ 170,052 $ 169,600 $ 169,390 $ 169,621 $ 170,126 $ 170,334 $ 170,174 $ 170,402 $ 167 23 2012 196,063 188,010 190,376 191,548 192,057 191,804 192,905 192,790 193,002 120 25 2013 191,903 188,915 188,026 186,795 187,165 188,014 187,147 187,683 142 23 2014 199,298 202,621 203,218 202,513 204,986 208,003 208,743 592 25 2015 234,800 234,881 233,501 236,855 238,652 239,941 2,950 24 2016 250,691 259,489 259,497 259,708 260,496 1,821 24 2017 309,491 295,163 288,322 289,869 2,702 30 2018 311,798 308,361 310,695 9,704 25 2019 359,643 366,139 17,580 30 2020 420,257 77,396 26 Total $ 2,647,227 __________ (1) The information for the years 2011 to 2019 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 2011 (1) 2012 (1) 2013 (1) 2014 (1) 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (1) 2020 (Amounts in thousands) 2011 $ 111,909 $ 153,845 $ 162,870 $ 166,375 $ 167,806 $ 168,621 $ 168,914 $ 169,757 $ 169,899 $ 169,958 2012 128,618 175,029 182,756 188,121 190,373 190,649 191,660 192,362 192,454 2013 133,528 174,295 180,858 183,860 185,168 186,132 186,494 186,816 2014 139,615 186,996 194,605 198,758 202,193 203,333 207,524 2015 163,196 213,994 224,178 230,480 234,683 235,971 2016 173,537 234,215 245,878 253,919 256,642 2017 217,900 269,254 278,341 283,311 2018 213,038 271,534 286,658 2019 240,240 324,953 2020 271,208 Total $ 2,415,495 All outstanding liabilities before 2011, net of reinsurance 1,457 Loss and allocated loss adjustment expense reserves, net of reinsurance $ 233,189 __________ (1) The information for the years 2011 to 2019 is presented as unaudited supplemental information. The following is unaudited supplementary information about average historical claims duration as of December 31, 2020. 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 62.6 % 17.6 % 8.7 % 5.2 % 2.6 % 1.0 % 0.5 % 0.3 % 0.1 % — % 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 67.9 % 21.9 % 4.1 % 2.3 % 1.2 % 0.4 % 0.7 % 0.3 % 0.1 % — % 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, 2020 (Amounts in thousands) Net outstanding liabilities Automobile insurance $ 1,442,694 Homeowners' insurance 233,189 WAIC automobile insurance 13,903 Other short-duration insurance lines 130,291 Loss and loss adjustment expense reserves, net of reinsurance recoverables on unpaid losses 1,820,077 Reinsurance recoverables on unpaid losses Automobile insurance 18,187 Homeowners' insurance 35,214 Other short-duration insurance lines 1,059 Total reinsurance recoverables on unpaid losses 54,460 Insurance lines other than short-duration 676 Unallocated claims adjustment expenses 116,091 116,767 Total gross loss and loss adjustment expense reserves $ 1,991,304

Dividends

Dividends	12 Months Ended
	Dec. 31, 2020
Dividends [Abstract]
Dividends	Dividends The following table presents shareholder dividends paid: Year Ended December 31, 2020 2019 2018 (Amounts in thousands, except per share data) Total paid $ 139,640 $ 139,071 $ 138,478 Per share paid $ 2.5225 $ 2.5125 $ 2.5025 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, 2020, the insurance subsidiaries of the Company are permitted to pay approximately $222 million in dividends in 2021 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 2020, 2019, and 2018, the Insurance Companies paid Mercury General ordinary dividends of $121 million, $114 million, and $135 million, respectively. On February 12, 2021, the Board of Directors declared a $0.6325 quarterly dividend payable on March 31, 2021 to shareholders of record on March 17, 2021.

Statutory Balances and Accounti

Statutory Balances and Accounting Practices	12 Months Ended
	Dec. 31, 2020
Statutory Balances And Accounting Practices [Abstract]
Statutory Balances and Accounting Practices	Statutory Balances and Accounting PracticesThe 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, 2020, 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, 2020 2019 2018 (Amounts in thousands) Statutory net income (1) $ 283,928 $ 135,670 $ 81,935 Statutory capital and surplus $ 1,768,103 $ 1,539,998 $ 1,471,547 __________ (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 Annual

Profit Sharing Plan and Annual Cash Bonuses	12 Months Ended
	Dec. 31, 2020
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 $11.2 million, $9.9 million, and $9.0 million for 2020, 2019, and 2018, 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 paid a total of $11.6 million of company-wide annual cash bonuses to all its eligible employees in 2020. The Company did not pay any company-wide annual cash bonuses to all eligible employees in 2019 and 2018.

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based CompensationIn 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, 2020, 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, 2020 2019 2018 (Amounts in thousands) Cash received from stock option exercises $ — $ 701 $ 358 Compensation cost, all share-based awards 142 123 145 Excess tax (benefit) expense, all share-based awards — (7) 4 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 2020 and 2019 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, 2020: Shares Weighted-Average Weighted-Average Aggregate Outstanding at January 1, 2020 67,500 $ 43.01 Exercised — $ — Canceled or expired — $ — Outstanding at December 31, 2020 67,500 $ 43.01 7.1 $ 621 Exercisable at December 31, 2020 32,500 $ 43.01 7.1 $ 299 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, 2020. The aggregate intrinsic value of stock options exercised in 2019 and 2018 was $217,064 and $42,000, respectively. There were no stock options exercised in 2020. The total fair value of stock options vested in each of 2020 and 2019 was $141,584. There were no stock options vested in 2018. The following table presents information regarding stock options outstanding at December 31, 2020: Options Outstanding Options Exercisable Range of Exercise Prices Number of Weighted-Average Weighted- Number of Weighted- $43.01 67,500 7.1 $ 43.01 32,500 $ 43.01 As of December 31, 2020, the Company had $0.2 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 1.1 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 2020, 2019, and 2018 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, 2020 2019 2018 Shares Weighted- Shares Weighted- Shares Weighted- Outstanding at January 1 — $ — 75,250 $ 53.49 169,000 $ 53.66 Vested — $ — — $ — — $ — Forfeited/Canceled — $ — (6,000) $ 53.49 (8,000) $ 53.49 Expired — $ — (69,250) $ 53.49 (85,750) $ 53.80 Outstanding at December 31 — $ — — $ — 75,250 $ 53.49 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 was recognized based on management’s best estimate of the performance goals that would be achieved at the end of the performance period, taking into account expected forfeitures. If the minimum performance goals were not met, no compensation cost was recognized and any recognized compensation cost was 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.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2020
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, 2020 2019 2018 Income Weighted Per-Share Income Weighted Per-Share Loss Weighted Per-Share (Amounts and numbers in thousands, except per-share data) Basic EPS Income (loss) available to common stockholders $ 374,607 55,358 $ 6.77 $ 320,087 55,351 $ 5.78 $ (5,728) 55,335 $ (0.10) Effect of dilutive securities: Options — — — 9 — — Diluted EPS Income (loss) available to common stockholders after assumed conversions $ 374,607 55,358 $ 6.77 $ 320,087 55,360 $ 5.78 $ (5,728) 55,335 $ (0.10) Potentially dilutive securities representing approximately 67,500, 0, and 78,500 shares of common stock for 2020, 2019, and 2018, 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, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Leases The Company is obligated under various non-cancellable lease agreements providing for office space, automobiles, office equipment, and EDP equipment that expire at various dates through the year 2028. See Note 7. Leases for additional information on leases and future lease payments as of December 31, 2020. 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 28, 2020, the most recent date at which information was available, was approximately $78.0 million. There was no assessment made in 2020. Regulatory Matters On April 13, 2020, the California Insurance Commissioner issued Bulletin 2020-3 ordering insurers to make an initial premium adjustment within 120 days from the date of the Bulletin 2020-3 to adversely impacted California policyholders for the months of March and April 2020. The Commissioner granted insurers flexibility in determining how to quickly and fairly process the premium refunds. On May 15, 2020, the California Insurance Commissioner issued Bulletin 2020-4 extending the directives in Bulletin 2020-3 through May 31, 2020. The Bulletin 2020-8, originally issued on June 25, 2020 and amended on December 3, 2020, extended the previous directives of Bulletin 2020-3 and Bulletin 2020-4 through June 30, 2020, as well as any months subsequent to June 2020 because the COVID-19 pandemic continued to result in projected loss exposures remaining overstated or misclassified. The total amount of premiums returned to the Company's policyholders through refunds or credits in 2020 was approximately $128 million. The Company's net premiums earned was reduced by approximately $128 million for the twelve months ended December 31, 2020 as a result of these premium refunds and credits. In November and December 2020, the California Insurance Commissioner issued a mandatory moratorium on cancellations and non-renewals of policies of residential property insurance after the declaration of a state of emergency through Bulletins 2020-11, 2020-12 and 2020-13. These Bulletins list declarations of a state of emergency issued by the California Governor in August, September and November 2020, along with the ZIP Codes within and adjacent to the fire perimeters in counties subject to each state of emergency. The mandatory moratorium prohibits insurers from canceling or refusing to renew a policy of residential property insurance for a property located in any ZIP Code listed in these Bulletins for one year after the declaration of a state of emergency and in effect at the time of the declared emergency, based solely on the fact that the insured structure is located in an area in which a fire has occurred. The Company will comply with these Bulletins and does not believe that these Bulletins will have a material adverse impact on its financial condition or cash flows. 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. The Company is also involved in proceedings relating to assessments made by the FTB. See Note 11. Income Taxes.

Quarterly Financial Information

Quarterly Financial Information (Unaudited)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Data [Abstract]
Quarterly Financial Information (Unaudited)	Quarterly Financial Information (Unaudited) The following table presents summarized quarterly financial data for 2020 and 2019: Quarter Ended March 31 June 30 September 30 December 31 (Amounts in thousands, except per share data) 2020 Net premiums earned $ 922,574 $ 811,897 $ 899,304 $ 921,860 Change in fair value of financial instruments pursuant to the fair value option (240,990) 166,829 58,865 87,968 (Loss) income before income taxes (180,705) 285,466 146,631 207,110 Net (loss) income (139,204) 228,211 118,857 166,743 Basic (loss) earnings per share (2.51) 4.12 2.15 3.01 Diluted (loss) earnings per share (2.51) 4.12 2.15 3.01 Dividends paid per share 0.6300 0.6300 0.6300 0.6325 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 Net income for 2020 was primarily attributable to net premiums earned, net investment income, and net realized investment gains, partially offset by losses and loss adjustment expenses, including catastrophe losses and unfavorable development on prior accident years' loss and loss adjustment expense reserves, and operating expenses. Major factors contributing to net income for the fourth quarter of 2020 were underwriting profit and increases in the fair values of the Company’s fixed maturity and equity securities due to the overall improvement in fixed maturity and equity markets.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2020
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, 2020 2019 2018 Property & Casualty Other Total Property & Casualty Other Total Property & Casualty Other Total (Amounts in millions) Net premiums earned $ 3,526.8 $ 28.8 $ 3,555.6 $ 3,571.0 $ 28.4 $ 3,599.4 $ 3,337.9 $ 30.5 $ 3,368.4 Less: Losses and loss adjustment expenses 2,381.5 13.8 2,395.3 2,692.7 13.3 2,706.0 2,562.0 14.8 2,576.8 Underwriting expenses 899.1 14.6 913.7 857.3 14.1 871.4 802.7 14.1 816.8 Underwriting gain (loss) 246.2 0.4 246.6 21.0 1.0 22.0 (26.8) 1.6 (25.2) Investment income 134.9 141.3 135.8 Net realized investment gains (losses) 85.7 222.8 (133.5) Other income 8.3 9.0 9.3 Interest expense (17.0) (17.0) (17.0) Pre-tax income (loss) $ 458.5 $ 378.1 $ (30.6) Net income (loss) $ 374.6 $ 320.1 $ (5.7) 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, 2020 2019 2018 Property & Casualty Other Total Property & Casualty Other Total Property & Casualty Other Total (Amounts in millions) Private passenger automobile $ 2,591.3 $ — $ 2,591.3 $ 2,756.5 $ — $ 2,756.5 $ 2,602.1 $ — $ 2,602.1 Homeowners 601.3 — 601.3 514.8 — 514.8 459.4 — 459.4 Commercial automobile 225.6 — 225.6 208.7 — 208.7 190.1 — 190.1 Other 108.6 28.8 137.4 91.0 28.4 119.4 86.3 30.5 116.8 Net premiums earned $ 3,526.8 $ 28.8 $ 3,555.6 $ 3,571.0 $ 28.4 $ 3,599.4 $ 3,337.9 $ 30.5 $ 3,368.4 Private passenger automobile $ 2,569.0 $ — $ 2,569.0 $ 2,820.5 $ — $ 2,820.5 $ 2,703.6 $ — $ 2,703.6 Homeowners 678.9 — 678.9 598.5 — 598.5 524.9 — 524.9 Commercial automobile 240.8 — 240.8 217.3 — 217.3 198.5 — 198.5 Other 136.3 29.2 165.5 106.3 32.0 138.3 97.2 26.7 123.9 Direct premiums written $ 3,625.0 $ 29.2 $ 3,654.2 $ 3,742.6 $ 32.0 $ 3,774.6 $ 3,524.2 $ 26.7 $ 3,550.9

Summary Of Investments Other Th

Summary Of Investments Other Than Investments In Related Parties	12 Months Ended
	Dec. 31, 2020
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	Type of Investment Cost Fair Value Amounts in the (Amounts in thousands) Fixed maturity securities: U.S. government bonds $ 13,756 $ 13,816 $ 13,816 Municipal securities 2,632,559 2,791,212 2,791,212 Mortgage-backed securities 91,527 93,264 93,264 Corporate securities 240,486 241,366 241,366 Collateralized loan obligations 256,558 256,891 256,891 Other asset-backed securities 153,532 153,261 153,261 Total fixed maturity securities 3,388,418 3,549,810 3,549,810 Equity securities: Common stock 563,394 691,782 691,782 Non-redeemable preferred stock 31,430 32,660 32,660 Private equity funds measured at net asset value (1) 100,326 79,409 79,409 Total equity securities 695,150 803,851 803,851 Short-term investments 376,547 375,609 375,609 Total investments $ 4,460,115 $ 4,729,270 $ 4,729,270 __________ (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, 2019 Type of Investment Cost Fair Value Amounts in the (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 fund 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.

Condensed Financial Information

Condensed Financial Information of Registrant	12 Months Ended
	Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract]
Condensed Financial Information of Registrant	December 31, 2020 2019 (Amounts in thousands) ASSETS Investments, at fair value: Equity securities (cost $75,099; $81,802) $ 110,596 $ 114,668 Short-term investments (cost $4,269; $29,356) 4,269 29,356 Investment in subsidiaries 2,285,417 2,008,163 Total investments 2,400,282 2,152,187 Cash 24,652 39,766 Accrued investment income 20 90 Amounts receivable from affiliates 250 244 Income tax receivable from affiliates 5,862 9,192 Other assets 221 312 Total assets $ 2,431,287 $ 2,201,791 LIABILITIES AND SHAREHOLDERS’ EQUITY Notes payable $ 372,532 $ 372,133 Accounts payable and accrued expenses — 17 Amounts payable to affiliates 30 22 Income tax payable to affiliates 2,724 4,106 Current income taxes 10,074 14,052 Deferred income taxes 8,470 7,059 Other liabilities 4,860 4,900 Total liabilities 398,690 402,289 Commitments and contingencies Shareholders’ equity: Common stock 98,970 98,828 Retained earnings 1,933,627 1,700,674 Total shareholders’ equity 2,032,597 1,799,502 Total liabilities and shareholders’ equity $ 2,431,287 $ 2,201,791 SCHEDULE II, Continued MERCURY GENERAL CORPORATION CONDENSED FINANCIAL INFORMATION OF REGISTRANT STATEMENTS OF OPERATIONS Year Ended December 31, 2020 2019 2018 (Amounts in thousands) Revenues: Net investment income $ 3,323 $ 3,735 $ 4,661 Net realized investment gains (losses) 9,575 31,682 (10,797) Other — 5 2 Total revenues 12,898 35,422 (6,134) Expenses: Other operating expenses 3,054 2,592 2,343 Interest 17,035 17,036 17,036 Total expenses 20,089 19,628 19,379 (Loss) income before income taxes and equity in net income of subsidiaries (7,191) 15,794 (25,513) Income tax expense (benefit) 600 2,816 (5,144) (Loss) income before equity in net income of subsidiaries (7,791) 12,978 (20,369) Equity in net income of subsidiaries 382,398 307,109 14,641 Net income (loss) $ 374,607 $ 320,087 $ (5,728) SCHEDULE II, Continued MERCURY GENERAL CORPORATION CONDENSED FINANCIAL INFORMATION OF REGISTRANT STATEMENTS OF CASH FLOWS Year Ended December 31, 2020 2019 2018 (Amounts in thousands) Cash flows from operating activities: Net cash used in operating activities $ (17,339) $ (5,392) $ (16,108) Cash flows from investing activities: Capital contribution to subsidiaries (30,000) (125) (541) Capital distribution from subsidiaries — 30,069 — Distributions received from special purpose entities 12,129 5,153 5,998 Dividends received from subsidiaries 121,000 114,431 135,000 Equity securities available for sale in nature Purchases (54,571) (39,966) (22,286) Sales 67,965 74,663 33,052 Decrease (increase) in short-term investments 25,088 (25,213) 18,065 Other, net 254 376 605 Net cash provided by investing activities 141,865 159,388 169,893 Cash flows from financing activities: Dividends paid to shareholders (139,640) (139,071) (138,478) Proceeds from stock options exercised — 701 358 Net cash used in financing activities (139,640) (138,370) (138,120) Net (decrease) increase in cash (15,114) 15,626 15,665 Cash: Beginning of year 39,766 24,140 8,475 End of year $ 24,652 $ 39,766 $ 24,140 SUPPLEMENTAL CASH FLOW DISCLOSURE Interest paid $ 16,586 $ 16,586 $ 16,586 Income taxes (refunded) paid, net $ (20,552) $ (12,391) $ 4,296 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 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. Distributions of $12.1 million and $5.2 million were received in 2020 and 2019, respectively, from these special purpose entities. Dividends received from Subsidiaries Dividends of $121,000,000, $114,431,433 and $135,000,000 were received by Mercury General from its 100% owned insurance subsidiaries in 2020, 2019 and 2018, 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 $30,000,000, $125,000 and $540,619 in 2020, 2019 and 2018, respectively. In addition, Mercury General received a capital distribution from its insurance subsidiaries of $0, $30,068,567 and $0 in 2020, 2019 and 2018, respectively. 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 15.6% at December 31, 2020, resulting in a 15 basis point commitment fee on the $50 million undrawn portion of the credit facility. As of February 16, 2021, 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, 2020
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract]
Supplemental Reinsurance Premiums	2020 2019 2018 (Amounts in thousands) Direct amounts $ 3,603,780 $ 3,655,233 $ 3,416,687 Ceded to other companies (56,212) (56,725) (48,941) Assumed 8,067 910 665 Net amounts $ 3,555,635 $ 3,599,418 $ 3,368,411

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
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. From time to time, 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, 2020 and 2019. The Company's financial or other support provided to these VIEs and its loss exposure are limited to its collateral and original investment.
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.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.
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.
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.
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
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.
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, 2020, 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. Reinsurance recoverables on unpaid losses are estimated based upon assumptions consistent with those used in establishing the liabilities related to the underlying contracts. Most of the Company's reinsurance premiums are recognized ratably over the contract period to the extent coverage remains available. Net premiums earned and losses and loss adjustment expenses are stated net of deductions for ceded reinsurance. The Company is the assuming reinsurer under a Catastrophe Participation Reinsurance Contract ("Contract") effective through December 31, 2021. The Company reimburses up to $31 million in losses for a proportional share of a portfolio of catastrophe losses under the Contract, to the extent the actual loss ratio exceeds the threshold loss ratio of 71%. If the actual loss ratio is less than the threshold loss ratio, the Company is eligible to receive a certain portion of the underwriting profit. The Company is party to a Catastrophe Reinsurance Treaty ("Treaty") covering a wide range of perils that is effective through June 30, 2021. The Treaty provides $717 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. The Treaty provides for one full reinstatement of coverage limits with a minor exception at the top coverage layer, and includes some additional minor territorial and coverage limits. The effect of reinsurance on property and casualty premiums written and earned was as follows: Year Ended December 31, 2020 2019 2018 (Amounts in thousands) Premiums Written Direct $ 3,624,965 $ 3,742,627 $ 3,524,186 Ceded (50,630) (43,785) (55,973) Assumed 8,012 919 689 Net $ 3,582,347 $ 3,699,761 $ 3,468,902 Premiums Earned Direct $ 3,574,898 $ 3,626,857 $ 3,386,192 Ceded (56,212) (56,725) (48,941) Assumed 8,067 910 665 Net $ 3,526,753 $ 3,571,042 $ 3,337,916 The Company recognized ceded premiums earned of approximately $56 million, $57 million, and $49 million in 2020, 2019, and 2018, respectively, which are included in net premiums earned in its consolidated statements of operations, and ceded losses and loss adjustment expenses of approximately $(28) million, $(71) million, and $257 million in 2020, 2019, and 2018, 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 2020 were mainly due to the reimbursements from Pacific Gas and Electric Corporation ("PG&E") Subrogation Trust Fund to the Company for certain claims paid to its policyholders related to wildfires in recent past years, in accordance with PG&E's Plan of Reorganization approved by the United States Bankruptcy Court. These loss recoveries from PG&E were ceded to the Company's reinsurers as the original losses had previously been ceded to its reinsurers under the Treaty. 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 had 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.
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 $18.0 million, $16.3 million and $16.0 million, with related expenses of approximately $11.8 million, $10.5 million and $10.5 million, for the years ended December 31, 2020, 2019 and 2018, respectively. 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, 2020 and 2019 was approximately $1.2 million.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In March 2020, the Financial Accounting Standards Board ("FASB") issued ASU 2020-04, "Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting." ASU 2020-04 provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this ASU apply only to contracts, hedging relationships, and other transactions that reference LIBOR or other interbank offered rates expected to be discontinued because of reference rate reform. ASU 2020-04 is effective for all entities as of March 12, 2020 through December 31, 2022. The Company expects to apply the

Summary of Significant Accoun_3

Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020 2019 2018 (Amounts in millions) Deferred policy acquisition cost amortization $ 627.8 $ 602.1 $ 572.2 Net advertising expense 37.7 42.2 40.9
Effects of Reinsurance	The effect of reinsurance on property and casualty premiums written and earned was as follows: Year Ended December 31, 2020 2019 2018 (Amounts in thousands) Premiums Written Direct $ 3,624,965 $ 3,742,627 $ 3,524,186 Ceded (50,630) (43,785) (55,973) Assumed 8,012 919 689 Net $ 3,582,347 $ 3,699,761 $ 3,468,902 Premiums Earned Direct $ 3,574,898 $ 3,626,857 $ 3,386,192 Ceded (56,212) (56,725) (48,941) Assumed 8,067 910 665 Net $ 3,526,753 $ 3,571,042 $ 3,337,916
Premium Receivable, Allowance for Credit Loss	The following table presents a summary of changes in allowance for credit losses on premiums receivable: Year Ended December 31, 2020 2019 2018 Beginning balance $ 1,445 $ 1,458 1,258 Cumulative effect of adopting ASU 2016-13 1,855 — — Beginning balance, as adjusted 3,300 1,458 1,258 Provision during the period for expected credit losses 10,294 6,162 6,463 Write-off amounts during the period (4,406) (7,000) (6,908) Recoveries during the period of amounts previously written off 812 825 645 Ending balance $ 10,000 $ 1,445 $ 1,458
Reinsurance Recoverable, Allowance for Credit Loss	The following table presents a summary of changes in allowance for credit losses on reinsurance recoverables: Year Ended December 31, 2020 2019 2018 Beginning balance $ — $ — $ — Cumulative effect of adopting ASU 2016-13 159 — — Beginning balance, as adjusted 159 — — Provision during the period for expected credit losses (68) — — Write-off amounts during the period — — — Recoveries during the period of amounts previously written off — — — Ending balance $ 91 $ — $ —

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020 2019 (Amounts in thousands) Assets Investments $ 4,729,270 $ 4,312,161 Note receivable 5,725 5,665 Liabilities Options sold — 77 Unsecured notes 415,253 394,279

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020 2019 2018 (Amounts in thousands) Fixed maturity securities $ 41,394 $ 104,379 $ (53,927) Equity securities 32,232 90,920 (77,494) Short-term investments (1,014) 1,295 (1,237) Total gains (losses) $ 72,612 $ 196,594 $ (132,658)
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, 2020 2019 2018 (Amounts in thousands) Gross Gross Net Gross Gross Net Gross Gross Net Fixed maturity securities $ 1,884 $ (4,296) $ (2,412) $ 2,413 $ (1,066) $ 1,347 $ 549 $ (3,563) $ (3,014) Equity securities 75,591 (80,134) (4,543) 47,411 (28,089) 19,322 43,420 (45,607) (2,187) Short-term investments 146 (2,438) (2,292) 177 (2,133) (1,956) 61 (2,429) (2,368)
Estimated Fair Values Of Investments	The following table presents the estimated fair values of the Company's fixed maturity securities at December 31, 2020 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 $ 246,708 Due after one year through five years 693,068 Due after five years through ten years 540,052 Due after ten years 2,069,982 Total $ 3,549,810
Investment Income	The following table presents a summary of net investment income: Year Ended December 31, 2020 2019 2018 (Amounts in thousands) Fixed maturity securities $ 100,166 $ 102,254 $ 102,198 Equity securities 37,598 32,233 30,496 Short-term investments 2,822 12,381 8,789 Total investment income $ 140,586 $ 146,868 $ 141,483 Less: investment expense (5,728) (5,605) (5,645) Net investment income $ 134,858 $ 141,263 $ 135,838

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020 Level 1 Level 2 Level 3 Total (Amounts in thousands) Assets Fixed maturity securities: U.S. government bonds $ 13,816 $ — $ — $ 13,816 Municipal securities — 2,791,212 — 2,791,212 Mortgage-backed securities — 93,264 — 93,264 Corporate securities — 241,366 — 241,366 Collateralized loan obligations — 256,891 — 256,891 Other asset-backed securities — 153,261 — 153,261 Total fixed maturity securities 13,816 3,535,994 — 3,549,810 Equity securities: Common stock 691,782 — — 691,782 Non-redeemable preferred stock — 32,660 — 32,660 Private equity funds measured at net asset value (1) 79,409 Total equity securities 691,782 32,660 — 803,851 Short-term investments: Short-term bonds 21,999 4,929 — 26,928 Money market instruments 348,676 — — 348,676 Other 5 — — 5 Total short-term investments 370,680 4,929 — 375,609 Other assets: Note receivable — 5,725 — 5,725 Total assets at fair value $ 1,076,278 $ 3,579,308 $ — $ 4,734,995 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 debt 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 fund 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 __________ (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, 2020 2019 (Amounts in thousands) Beginning balance $ 1,203 $ 1,445 Net realized (losses) gains included in earnings (1) 101 Settlements — (343) Transfer out (1) (1,202) — Ending balance $ — $ 1,203 The amount of total gains for the period included in earnings attributable to assets still held at December 31 $ — $ 93 __________ (1) The private equity fund was reclassified from Level 3 to private equity funds measured at net asset value due to the use of the NAV practical expedient in measuring the fair value of the fund at March 31, 2020.
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, 2020 Carrying Value Fair Value Level 1 Level 2 Level 3 (Amounts in thousands) Liabilities Notes payable: Unsecured notes $ 372,532 $ 415,253 $ — $ 415,253 $ — 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 $ —

Fixed Assets (Tables)

Fixed Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Schedule Of Fixed Assets	The following table presents the components of fixed assets: December 31, 2020 2019 (Amounts in thousands) Land $ 18,152 $ 18,152 Buildings and improvements 139,274 140,567 Furniture and equipment 46,450 70,355 Capitalized software 254,066 244,425 Leasehold improvements 7,004 7,547 464,946 481,046 Less: accumulated depreciation and amortization (286,023) (312,060) Fixed assets, net $ 178,923 $ 168,986

Deferred Policy Acquisition C_2

Deferred Policy Acquisition Costs (Tables)	12 Months Ended
	Dec. 31, 2020
Deferred Policy Acquisition Costs Disclosures [Abstract]
Schedule Of Deferred Policy Acquisition Costs	Deferred policy acquisition costs were as follows: December 31, 2020 2019 2018 (Amounts in thousands) Balance, beginning of year $ 233,166 $ 215,131 $ 198,151 Policy acquisition costs deferred 641,616 620,120 589,144 Amortization (627,788) (602,085) (572,164) Balance, end of year $ 246,994 $ 233,166 $ 215,131

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2020
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 2020 2019 (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) 2,468 2,867 Total $ 372,532 $ 372,133 __________ (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 15.6% at December 31, 2020, resulting in a 15 basis point commitment fee on the $50 million undrawn portion of the credit facility. As of February 16, 2021, there have been no borrowings under this facility.
Schedule of Maturities of Long-term Debt	Debt maturities for each of the next five years and thereafter as of December 31, 2020 are as follows: Maturity Amounts (in thousands) 2021 $ — 2022 — 2023 — 2024 — 2025 — Thereafter 375,000 Total $ 375,000

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Lease, Cost	The components of lease cost along with its classification on the Company's consolidated statements of operations were as follows: Year Ended December 31, Lease Cost Classification 2020 2019 (Amounts in thousands) Operating lease cost (1) Other operating expenses $ 15,814 $ 15,146 Finance lease cost: Amortization of assets Other operating expenses 338 — Interest on lease liabilities Interest expense 13 — Variable lease cost (1) Other operating expenses 1,697 2,196 Total lease cost 17,862 17,342 __________ (1) Includes short-term leases, which are immaterial. Total rent expense recognized under the Company's various operating lease agreements was $14.9 million for the year ended December 31, 2018. Weighted-average lease term and discount rate were as follows: December 31, 2020 2019 Weighted-average remaining lease term (in years): Operating leases 3.8 4.4 Finance leases 5.1 — Weighted-average discount rate: Operating leases 2.82 % 3.02 % Finance leases 0.82 % — Supplemental cash flow and other information related to leases was as follows: Year Ended December 31, 2020 2019 (Amounts in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 15,539 $ 14,289 Operating cash flows from finance leases 13 — Financing cash flows from finance leases 609 — ROU assets obtained in exchange for lease liabilities: Operating leases 8,673 15,372 Finance leases 3,047 —
Assets And Liabilities, Lease	on the Company's consolidated balance sheets were as follows: December 31, Lease Assets and Liabilities Classification 2020 2019 (Amounts in thousands) Operating lease assets Operating lease right-of-use assets $ 40,554 $ 44,909 Operating lease liabilities Operating lease liabilities 43,825 47,996 Finance lease assets Other assets 3,107 — Finance lease liabilities Other liabilities 2,836 —
Lessee, Operating Lease, Liability, Maturity	Maturities of lease liabilities as of December 31, 2020 were as follows: Year Operating Leases Finance Leases (Amounts in thousands) 2021 15,370 622 2022 12,739 622 2023 8,095 622 2024 4,388 622 2025 2,832 398 2026 and thereafter $ 2,985 $ — Total lease payments $ 46,409 $ 2,886 Less: Imputed interest 2,584 50 Total lease obligations $ 43,825 $ 2,836

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020 December 31, 2019 (Amounts in thousands) Options sold - Other liabilities $ — $ 77 Total derivatives $ — $ 77
Schedule Of Derivative Gains And Losses In The Consolidated Statements Of Operations	Gains (Losses) Recognized in Income Year Ended December 31, 2020 2019 2018 (Amounts in thousands) Total return swaps - Net realized investment gains (losses) $ — $ 1,039 $ (3,783) Options sold - Net realized investment gains (losses) 22,306 6,339 10,498 Total $ 22,306 $ 7,378 $ 6,715

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2020
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 Accumulated Net Carrying Useful Lives (Amounts in thousands) (in years) As of December 31, 2020 Customer relationships $ 54,862 $ (52,640) $ 2,222 11 Trade names 15,400 (7,700) 7,700 24 Technology 4,300 (4,300) — 10 Insurance license 1,400 — 1,400 Indefinite Total intangible assets, net $ 75,962 $ (64,640) $ 11,322 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
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, 2020: Year Ending December 31, Amortization Expense (Amounts in thousands) 2021 $ 1,067 2022 1,043 2023 879 2024 851 2025 807 Thereafter 5,275 Total $ 9,922

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020 2019 2018 (Amounts in thousands) Federal Current $ 69,554 $ 18,109 $ 14,190 Deferred 12,340 40,413 (39,244) $ 81,894 $ 58,522 $ (25,054) State Current $ 1,172 $ (1,430) $ 1,982 Deferred 828 890 (1,815) $ 2,000 $ (540) $ 167 Total Current $ 70,726 $ 16,679 $ 16,172 Deferred 13,168 41,303 (41,059) Total $ 83,894 $ 57,982 $ (24,887)
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, 2020 2019 2018 (Amounts in thousands) Computed tax expense (benefit) at 21% $ 96,285 $ 79,394 $ (6,429) Tax-exempt interest income (12,270) (12,909) (13,507) Dividends received deduction (1,335) (1,276) (1,082) State tax (benefit) expense 1,678 (869) 439 Nondeductible expenses 983 526 390 Change in federal tax contingency reserve — (2,588) — Reversal of AMT credit reduction (1) — — (4,088) Other, net (1,447) (4,296) (610) Income tax expense (benefit) $ 83,894 $ 57,982 $ (24,887) __________
Deferred Tax Assets And Liabilities	The following table presents the significant components of the Company’s net deferred tax assets and liabilities: December 31, 2020 2019 (Amounts in thousands) Deferred tax assets: 20% of net unearned premiums $ 61,067 $ 58,448 Discounting of loss reserves and salvage and subrogation recoverable for tax purposes 15,090 12,769 Write-down of impaired investments 293 314 Expense accruals 14,432 8,099 Other deferred tax assets 6,401 3,348 Total gross deferred tax assets 97,283 82,978 Deferred tax liabilities: Deferred policy acquisition costs (51,869) (48,964) Tax liability on net unrealized gain on securities carried at fair value (56,531) (41,273) Tax depreciation in excess of book depreciation (12,632) (8,105) Undistributed earnings of insurance subsidiaries (3,382) (2,855) Tax amortization in excess of book amortization (4,666) (3,264) Other deferred tax liabilities (9,335) (6,481) Total gross deferred tax liabilities (138,415) (110,942) Net deferred tax liabilities $ (41,132) $ (27,964)
Summary Of Unrecognized Tax Benefits	The following table presents a reconciliation of the beginning and ending balances of unrecognized tax benefits: December 31, 2020 2019 (Amounts in thousands) Balance at January 1 $ 6,051 $ 10,615 Additions (reductions) based on tax positions related to: Current year — — Prior years (1,417) (4,564) Balance at December 31 $ 4,634 $ 6,051

Loss And Loss Adjustment Expe_2

Loss And Loss Adjustment Expense Reserves (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020 2019 2018 (Amounts in thousands) Gross reserves at January 1 $ 1,921,255 $ 1,829,412 $ 1,510,613 Reinsurance recoverables on unpaid losses (76,100) (180,859) (64,001) Cumulative effect of adopting ASU 2016-13 149 — — Reinsurance recoverables on unpaid losses, as adjusted (75,951) (180,859) (64,001) Net reserves at January 1, as adjusted 1,845,304 1,648,553 1,446,612 Incurred losses and loss adjustment expenses related to: Current year 2,372,364 2,696,230 2,483,693 Prior years 22,979 9,794 93,096 Total incurred losses and loss adjustment expenses 2,395,343 2,706,024 2,576,789 Loss and loss adjustment expense payments related to: Current year 1,366,661 1,651,550 1,543,828 Prior years 937,142 857,872 831,020 Total payments 2,303,803 2,509,422 2,374,848 Net reserves at December 31 1,936,844 1,845,155 1,648,553 Reinsurance recoverables on unpaid losses 54,460 76,100 180,859 Gross reserves at December 31 $ 1,991,304 $ 1,921,255 $ 1,829,412
Incurred and Paid Claims Development	The information about incurred and paid claims development for the years ended December 31, 2011 to 2019 is presented as unaudited supplementary information. Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance (Automobile Insurance) As of December 31, 2020 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, 2011 (1) 2012 (1) 2013 (1) 2014 (1) 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (1) 2020 (Amounts in thousands) (Amounts in thousands) 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 $ 1,401,543 $ 59 181 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 1,440,537 116 181 2013 1,448,567 1,431,058 1,447,881 1,458,421 1,464,071 1,468,294 1,468,237 1,468,747 816 185 2014 1,467,175 1,454,366 1,473,545 1,486,322 1,498,504 1,501,075 1,501,713 718 180 2015 1,551,105 1,588,443 1,610,839 1,634,435 1,645,950 1,649,170 4,577 170 2016 1,672,853 1,669,642 1,713,696 1,731,997 1,732,410 8,206 155 2017 1,703,857 1,727,277 1,741,825 1,733,425 22,626 149 2018 1,781,817 1,773,502 1,785,071 60,829 146 2019 1,916,269 1,911,268 165,108 147 2020 1,514,551 407,969 85 Total $ 16,138,435 __________ (1) The information for the years 2011 to 2019 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 2011 (1) 2012 (1) 2013 (1) 2014 (1) 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (1) 2020 (Amounts in thousands) 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 $ 1,401,592 2012 955,647 1,194,648 1,304,511 1,372,828 1,409,911 1,422,705 1,434,956 1,438,686 1,440,482 2013 974,445 1,217,906 1,340,724 1,413,999 1,447,004 1,460,352 1,464,277 1,466,356 2014 967,481 1,231,413 1,358,472 1,432,472 1,476,944 1,490,366 1,496,814 2015 1,040,253 1,336,223 1,466,368 1,560,480 1,614,188 1,634,780 2016 1,094,006 1,395,199 1,554,217 1,656,192 1,699,069 2017 1,076,079 1,399,202 1,561,850 1,648,328 2018 1,082,127 1,417,637 1,588,049 2019 1,134,859 1,494,342 2020 825,398 Total $ 14,695,210 All outstanding liabilities before 2011, net of reinsurance (531) Loss and allocated loss adjustment expense reserves, net of reinsurance $ 1,442,694 __________ (1) The information for the years 2011 to 2019 is presented as unaudited supplemental information. Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance (Homeowners' Insurance) As of December 31, 2020 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, 2011 (1) 2012 (1) 2013 (1) 2014 (1) 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (1) 2020 (Amounts in thousands) (Amounts in thousands) 2011 $ 167,414 $ 170,623 $ 170,052 $ 169,600 $ 169,390 $ 169,621 $ 170,126 $ 170,334 $ 170,174 $ 170,402 $ 167 23 2012 196,063 188,010 190,376 191,548 192,057 191,804 192,905 192,790 193,002 120 25 2013 191,903 188,915 188,026 186,795 187,165 188,014 187,147 187,683 142 23 2014 199,298 202,621 203,218 202,513 204,986 208,003 208,743 592 25 2015 234,800 234,881 233,501 236,855 238,652 239,941 2,950 24 2016 250,691 259,489 259,497 259,708 260,496 1,821 24 2017 309,491 295,163 288,322 289,869 2,702 30 2018 311,798 308,361 310,695 9,704 25 2019 359,643 366,139 17,580 30 2020 420,257 77,396 26 Total $ 2,647,227 __________ (1) The information for the years 2011 to 2019 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 2011 (1) 2012 (1) 2013 (1) 2014 (1) 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (1) 2020 (Amounts in thousands) 2011 $ 111,909 $ 153,845 $ 162,870 $ 166,375 $ 167,806 $ 168,621 $ 168,914 $ 169,757 $ 169,899 $ 169,958 2012 128,618 175,029 182,756 188,121 190,373 190,649 191,660 192,362 192,454 2013 133,528 174,295 180,858 183,860 185,168 186,132 186,494 186,816 2014 139,615 186,996 194,605 198,758 202,193 203,333 207,524 2015 163,196 213,994 224,178 230,480 234,683 235,971 2016 173,537 234,215 245,878 253,919 256,642 2017 217,900 269,254 278,341 283,311 2018 213,038 271,534 286,658 2019 240,240 324,953 2020 271,208 Total $ 2,415,495 All outstanding liabilities before 2011, net of reinsurance 1,457 Loss and allocated loss adjustment expense reserves, net of reinsurance $ 233,189 __________ (1) The information for the years 2011 to 2019 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, 2020. 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 62.6 % 17.6 % 8.7 % 5.2 % 2.6 % 1.0 % 0.5 % 0.3 % 0.1 % — % 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 67.9 % 21.9 % 4.1 % 2.3 % 1.2 % 0.4 % 0.7 % 0.3 % 0.1 % — %
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, 2020 (Amounts in thousands) Net outstanding liabilities Automobile insurance $ 1,442,694 Homeowners' insurance 233,189 WAIC automobile insurance 13,903 Other short-duration insurance lines 130,291 Loss and loss adjustment expense reserves, net of reinsurance recoverables on unpaid losses 1,820,077 Reinsurance recoverables on unpaid losses Automobile insurance 18,187 Homeowners' insurance 35,214 Other short-duration insurance lines 1,059 Total reinsurance recoverables on unpaid losses 54,460 Insurance lines other than short-duration 676 Unallocated claims adjustment expenses 116,091 116,767 Total gross loss and loss adjustment expense reserves $ 1,991,304

Dividends (Tables)

Dividends (Tables)	12 Months Ended
	Dec. 31, 2020
Dividends [Abstract]
Dividends Paid In Total And Per Share	The following table presents shareholder dividends paid: Year Ended December 31, 2020 2019 2018 (Amounts in thousands, except per share data) Total paid $ 139,640 $ 139,071 $ 138,478 Per share paid $ 2.5225 $ 2.5125 $ 2.5025

Statutory Balances and Accoun_2

Statutory Balances and Accounting Practices (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020 2019 2018 (Amounts in thousands) Statutory net income (1) $ 283,928 $ 135,670 $ 81,935 Statutory capital and surplus $ 1,768,103 $ 1,539,998 $ 1,471,547 __________ (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, 2020
Share-based Payment Arrangement [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, 2020 2019 2018 (Amounts in thousands) Cash received from stock option exercises $ — $ 701 $ 358 Compensation cost, all share-based awards 142 123 145 Excess tax (benefit) expense, all share-based awards — (7) 4
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, 2020: Shares Weighted-Average Weighted-Average Aggregate Outstanding at January 1, 2020 67,500 $ 43.01 Exercised — $ — Canceled or expired — $ — Outstanding at December 31, 2020 67,500 $ 43.01 7.1 $ 621 Exercisable at December 31, 2020 32,500 $ 43.01 7.1 $ 299
Schedule of Options Authorized under Stock Option Plans, by Exercise Price Range	The following table presents information regarding stock options outstanding at December 31, 2020: Options Outstanding Options Exercisable Range of Exercise Prices Number of Weighted-Average Weighted- Number of Weighted- $43.01 67,500 7.1 $ 43.01 32,500 $ 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, 2020 2019 2018 Shares Weighted- Shares Weighted- Shares Weighted- Outstanding at January 1 — $ — 75,250 $ 53.49 169,000 $ 53.66 Vested — $ — — $ — — $ — Forfeited/Canceled — $ — (6,000) $ 53.49 (8,000) $ 53.49 Expired — $ — (69,250) $ 53.49 (85,750) $ 53.80 Outstanding at December 31 — $ — — $ — 75,250 $ 53.49

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020 2019 2018 Income Weighted Per-Share Income Weighted Per-Share Loss Weighted Per-Share (Amounts and numbers in thousands, except per-share data) Basic EPS Income (loss) available to common stockholders $ 374,607 55,358 $ 6.77 $ 320,087 55,351 $ 5.78 $ (5,728) 55,335 $ (0.10) Effect of dilutive securities: Options — — — 9 — — Diluted EPS Income (loss) available to common stockholders after assumed conversions $ 374,607 55,358 $ 6.77 $ 320,087 55,360 $ 5.78 $ (5,728) 55,335 $ (0.10)

Quarterly Financial Informati_2

Quarterly Financial Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Data [Abstract]
Summary Of Quarterly Financial Data	The following table presents summarized quarterly financial data for 2020 and 2019: Quarter Ended March 31 June 30 September 30 December 31 (Amounts in thousands, except per share data) 2020 Net premiums earned $ 922,574 $ 811,897 $ 899,304 $ 921,860 Change in fair value of financial instruments pursuant to the fair value option (240,990) 166,829 58,865 87,968 (Loss) income before income taxes (180,705) 285,466 146,631 207,110 Net (loss) income (139,204) 228,211 118,857 166,743 Basic (loss) earnings per share (2.51) 4.12 2.15 3.01 Diluted (loss) earnings per share (2.51) 4.12 2.15 3.01 Dividends paid per share 0.6300 0.6300 0.6300 0.6325 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

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020 2019 2018 Property & Casualty Other Total Property & Casualty Other Total Property & Casualty Other Total (Amounts in millions) Net premiums earned $ 3,526.8 $ 28.8 $ 3,555.6 $ 3,571.0 $ 28.4 $ 3,599.4 $ 3,337.9 $ 30.5 $ 3,368.4 Less: Losses and loss adjustment expenses 2,381.5 13.8 2,395.3 2,692.7 13.3 2,706.0 2,562.0 14.8 2,576.8 Underwriting expenses 899.1 14.6 913.7 857.3 14.1 871.4 802.7 14.1 816.8 Underwriting gain (loss) 246.2 0.4 246.6 21.0 1.0 22.0 (26.8) 1.6 (25.2) Investment income 134.9 141.3 135.8 Net realized investment gains (losses) 85.7 222.8 (133.5) Other income 8.3 9.0 9.3 Interest expense (17.0) (17.0) (17.0) Pre-tax income (loss) $ 458.5 $ 378.1 $ (30.6) Net income (loss) $ 374.6 $ 320.1 $ (5.7)
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, 2020 2019 2018 Property & Casualty Other Total Property & Casualty Other Total Property & Casualty Other Total (Amounts in millions) Private passenger automobile $ 2,591.3 $ — $ 2,591.3 $ 2,756.5 $ — $ 2,756.5 $ 2,602.1 $ — $ 2,602.1 Homeowners 601.3 — 601.3 514.8 — 514.8 459.4 — 459.4 Commercial automobile 225.6 — 225.6 208.7 — 208.7 190.1 — 190.1 Other 108.6 28.8 137.4 91.0 28.4 119.4 86.3 30.5 116.8 Net premiums earned $ 3,526.8 $ 28.8 $ 3,555.6 $ 3,571.0 $ 28.4 $ 3,599.4 $ 3,337.9 $ 30.5 $ 3,368.4 Private passenger automobile $ 2,569.0 $ — $ 2,569.0 $ 2,820.5 $ — $ 2,820.5 $ 2,703.6 $ — $ 2,703.6 Homeowners 678.9 — 678.9 598.5 — 598.5 524.9 — 524.9 Commercial automobile 240.8 — 240.8 217.3 — 217.3 198.5 — 198.5 Other 136.3 29.2 165.5 106.3 32.0 138.3 97.2 26.7 123.9 Direct premiums written $ 3,625.0 $ 29.2 $ 3,654.2 $ 3,742.6 $ 32.0 $ 3,774.6 $ 3,524.2 $ 26.7 $ 3,550.9

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Narrative) (Details)	12 Months Ended
	Dec. 31, 2020USD ($)StateSubsidiary	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Jan. 01, 2020USD ($)	Dec. 31, 2017USD ($)
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	70.00%
Percentage of private passenger automobile premiums written in California	88.00%	88.00%	87.00%
Percentage by which dividend income on non redeemable preferred stock, partnership, common stock is partially tax-sheltered	50.00%
Insurance companies security deposits	$ 15,000,000	$ 16,000,000
Impairment charges	0	0	$ 0
Goodwill impairment loss	0	0
Premiums written, net	3,610,000,000	3,730,000,000	3,500,000,000
Reduction in premiums written, net	128,000,000
Reinsurance reimbursable amount	$ 31,000,000
Reinsurance retention policy, threshold loss ratio	71.00%
Reinsurance policy, coverage per occurrence after retention limit	$ 717,000,000
Reinsurance policy, retention limit	40,000,000
Ceded premiums	56,212,000	56,725,000	48,941,000
Losses and loss adjustment expenses, ceded	$ (28,000,000)	(71,000,000)	257,000,000
Vesting term	4 years
Revenue from contract with customer	$ 18,000,000	16,300,000	16,000,000
Cost of goods and services sold	11,800,000	10,500,000	10,500,000
Commission income receivable	1,200,000	1,200,000
Refund liability	900,000	700,000
Capitalized contract cost, net	4,800,000	4,400,000
Capitalized contract cost, accumulated amortization	(2,100,000)	(300,000)
Capitalized contract cost, amortization	1,800,000	300,000
Cumulative effect adoption adjustment	$ 2,032,597,000	1,799,502,000	1,617,684,000
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
Retained Earnings [Member]
Summary Of Significant Accounting Policies [Line Items]
Cumulative effect adoption adjustment	$ 1,933,627,000	$ 1,700,674,000	1,519,658,000		$ 1,663,864,000
Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment
Summary Of Significant Accounting Policies [Line Items]
Cumulative effect adoption adjustment	$ (2,014,000)		$ 0		$ 0
Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2016-13 [Member]
Summary Of Significant Accounting Policies [Line Items]
Cumulative effect adoption 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, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Deferred policy acquisition cost amortization	$ 627,788	$ 602,085	$ 572,164
Net advertising expense	$ 37,700	$ 42,200	$ 40,900

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Effects of Reinsurance (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Premiums Written
Direct									$ 3,654,200	$ 3,774,600	$ 3,550,900
Net									3,610,000	3,730,000	3,500,000
Premiums Earned
Direct									3,603,780	3,655,233	3,416,687
Ceded									(56,212)	(56,725)	(48,941)
Assumed									8,067	910	665
Net	$ 921,860	$ 899,304	$ 811,897	$ 922,574	$ 925,384	$ 915,012	$ 888,776	$ 870,245	3,555,635	3,599,418	3,368,411
Segment Reporting Information [Line Items]
Direct premiums written									3,654,200	3,774,600	3,550,900
Net									3,610,000	3,730,000	3,500,000
Direct amounts									3,603,780	3,655,233	3,416,687
Ceded premiums									56,212	56,725	48,941
Assumed									8,067	910	665
Net premiums earned	$ 921,860	$ 899,304	$ 811,897	$ 922,574	$ 925,384	$ 915,012	$ 888,776	$ 870,245	3,555,635	3,599,418	3,368,411
Property and Casualty Lines [Member]
Premiums Written
Direct									3,624,965	3,742,627	3,524,186
Ceded									(50,630)	(43,785)	(55,973)
Assumed									8,012	919	689
Net									3,582,347	3,699,761	3,468,902
Premiums Earned
Direct									3,574,898	3,626,857	3,386,192
Ceded									(56,212)	(56,725)	(48,941)
Assumed									8,067	910	665
Net									3,526,753	3,571,042	3,337,916
Segment Reporting Information [Line Items]
Direct premiums written									3,624,965	3,742,627	3,524,186
Ceded									50,630	43,785	55,973
Assumed									8,012	919	689
Net									3,582,347	3,699,761	3,468,902
Direct amounts									3,574,898	3,626,857	3,386,192
Ceded premiums									56,212	56,725	48,941
Assumed									8,067	910	665
Net premiums earned									$ 3,526,753	$ 3,571,042	$ 3,337,916

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Allowance for Credit Losses on Premium Receivables (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Beginning balance	$ 1,445	$ 1,458	$ 1,258
Provision during the period for expected credit losses	10,294	6,162	6,463
Write-off amounts during the period	(4,406)	(7,000)	(6,908)
Recoveries during the period of amounts previously written off	812	825	645
Ending balance	10,000	1,445	1,458
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Beginning balance	1,855	0	0
Ending balance		1,855	0
Cumulative Effect, Period of Adoption, Adjusted Balance
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Beginning balance	$ 3,300	1,458	1,258
Ending balance		$ 3,300	$ 1,458

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Allowance for Credit Losses on Reinsurance Recoverables (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Beginning balance	$ 0	$ 0	$ 0
Provision during the period for expected credit losses	(68)	0	0
Write-off amounts during the period	0	0	0
Recoveries during the period of amounts previously written off	0	0	0
Ending balance	91	0	0
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Beginning balance	159	0	0
Ending balance		159	0
Cumulative Effect, Period of Adoption, Adjusted Balance
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Beginning balance	$ 159	0	0
Ending balance		$ 159	$ 0

Financial Instruments (Estimate

Financial Instruments (Estimated Fair Values Of Financial Instruments) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Investments [Member]
Assets
Assets	$ 4,729,270	$ 4,312,161
Notes Receivable [Member]
Assets
Assets	5,725	5,665
Equity Contract [Member]
Liabilities
Derivative liabilitly	0	77
Unsecured Debt [Member] | Borrowings [Member]
Liabilities
Notes payable, fair value	$ 415,253	$ 394,279

Financial Instruments (Narrativ

Financial Instruments (Narrative) (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
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, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
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	$ 87,968	$ 58,865	$ 166,829	$ (240,990)	$ 18,173	$ 24,021	$ 50,281	$ 104,227
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									$ 41,394	$ 104,379	$ (53,927)
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									32,232	90,920	(77,494)
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									(1,014)	1,295	(1,237)
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									$ 72,612	$ 196,594	$ (132,658)

Investments (Gross Gains And Lo

Investments (Gross Gains And Losses Realized On Sales Of Investments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Investments [Abstract]
Fixed maturity securities, Realized Gain	$ 1,884	$ 2,413	$ 549
Fixed maturity securities, Realized Loss	(4,296)	(1,066)	(3,563)
Fixed maturity securities, Realized Gain (Loss)	(2,412)	1,347	(3,014)
Equity securities, Realized Gain	75,591	47,411	43,420
Equity securities, Realized Loss	(80,134)	(28,089)	(45,607)
Equity securities, Realized Gain (Loss)	(4,543)	19,322	(2,187)
Short-term investments, Realized Gain	146	177	61
Short-term investments, Gross Realized Losses	(2,438)	(2,133)	(2,429)
Short-term investments, Realized Gain (Loss)	$ (2,292)	$ (1,956)	$ (2,368)

Investments (Estimated Fair Val

Investments (Estimated Fair Value Of Investments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fixed maturity securities:
Due in one year or less	$ 246,708
Due after one year through five years	693,068
Due after five years through ten years	540,052
Due after ten years	2,069,982
Total	$ 3,549,810	$ 3,093,275
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, 2020	Dec. 31, 2019	Dec. 31, 2018
Investments [Line Items]
Total investment income	$ 140,586	$ 146,868	$ 141,483
Less: Investment expense	(5,728)	(5,605)	(5,645)
Net investment income	134,858	141,263	135,838
Fixed Maturity Securities [Member]
Investments [Line Items]
Total investment income	100,166	102,254	102,198
Equity Securities [Member]
Investments [Line Items]
Total investment income	37,598	32,233	30,496
Short-term Investments [Member]
Investments [Line Items]
Total investment income	$ 2,822	$ 12,381	$ 8,789

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details)	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)broker
Fair Value Measurement [Line Items]
Percentage of portfolio of unadjusted fair values obtained	98.30%
Two Private Equity Funds using NAV	$ 78,200,000
One Private Equity Fund using NAV	$ 1,200,000
Minimum [Member]
Fair Value Measurement [Line Items]
Number of knowledgeable outside security brokers consulted to determine fair value | broker		1
Liquidating investment, remaining period	1 year
Maximum [Member]
Fair Value Measurement [Line Items]
Liquidating investment, remaining period	9 years
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	4,734,995,000	4,317,826,000
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement [Line Items]
Assets, fair value	0	1,203,000
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Assets, fair value	3,579,308,000	3,156,091,000
Commercial Mortgage Backed Securities [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Holings in mortgage backed securities	17,600,000	$ 18,900,000
Equity Securities [Member] | Private Equity Funds Net Asset Value [Member]
Fair Value Measurement [Line Items]
Unfunded commitments	$ 0

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, 2020	Dec. 31, 2019
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $3,388,418; $2,973,276)	$ 3,549,810,000	$ 3,093,275,000
Equity securities (cost $695,150; $648,282)	803,851,000	724,751,000
Short-term investments (cost $376,547; $494,060)	375,609,000	494,135,000
Equity Contract [Member]
Fair Value Measurement [Line Items]
Derivative liabilitly	0	77,000
Fair Value, Measurements, Recurring [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $3,388,418; $2,973,276)	3,549,810,000	3,093,275,000
Equity securities (cost $695,150; $648,282)	803,851,000	724,751,000
Short-term investments (cost $376,547; $494,060)	375,609,000	494,135,000
Other assets:	5,725,000	5,665,000
Total assets at fair value	4,734,995,000	4,317,826,000
Liabilities fair value		77,000
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $3,388,418; $2,973,276)	13,816,000	22,637,000
Equity securities (cost $695,150; $648,282)	691,782,000	586,367,000
Short-term investments (cost $376,547; $494,060)	370,680,000	464,055,000
Other assets:	0	0
Total assets at fair value	1,076,278,000	1,073,059,000
Liabilities fair value		77,000
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $3,388,418; $2,973,276)	3,535,994,000	3,070,638,000
Equity securities (cost $695,150; $648,282)	32,660,000	49,708,000
Short-term investments (cost $376,547; $494,060)	4,929,000	30,080,000
Other assets:	5,725,000	5,665,000
Total assets at fair value	3,579,308,000	3,156,091,000
Liabilities fair value		0
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $3,388,418; $2,973,276)	0	0
Equity securities (cost $695,150; $648,282)	0	1,203,000
Short-term investments (cost $376,547; $494,060)	0	0
Other assets:	0	0
Total assets at fair value	0	1,203,000
Liabilities fair value		0
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $3,388,418; $2,973,276)	13,816,000	22,637,000
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Level 1 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $3,388,418; $2,973,276)	13,816,000	22,637,000
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $3,388,418; $2,973,276)	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 $3,388,418; $2,973,276)	0	0
Fair Value, Measurements, Recurring [Member] | Municipal Securities [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $3,388,418; $2,973,276)	2,791,212,000	2,554,208,000
Fair Value, Measurements, Recurring [Member] | Municipal Securities [Member] | Level 1 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $3,388,418; $2,973,276)	0	0
Fair Value, Measurements, Recurring [Member] | Municipal Securities [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $3,388,418; $2,973,276)	2,791,212,000	2,554,208,000
Fair Value, Measurements, Recurring [Member] | Municipal Securities [Member] | Level 3 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $3,388,418; $2,973,276)	0	0
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $3,388,418; $2,973,276)	93,264,000	63,003,000
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Level 1 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $3,388,418; $2,973,276)	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 $3,388,418; $2,973,276)	93,264,000	63,003,000
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Level 3 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $3,388,418; $2,973,276)	0	0
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $3,388,418; $2,973,276)	241,366,000	235,565,000
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Level 1 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $3,388,418; $2,973,276)	0	0
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $3,388,418; $2,973,276)	241,366,000	235,565,000
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Level 3 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $3,388,418; $2,973,276)	0	0
Fair Value, Measurements, Recurring [Member] | Collateralized Loan Obligations [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $3,388,418; $2,973,276)	256,891,000	199,217,000
Fair Value, Measurements, Recurring [Member] | Collateralized Loan Obligations [Member] | Level 1 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $3,388,418; $2,973,276)	0	0
Fair Value, Measurements, Recurring [Member] | Collateralized Loan Obligations [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $3,388,418; $2,973,276)	256,891,000	199,217,000
Fair Value, Measurements, Recurring [Member] | Collateralized Loan Obligations [Member] | Level 3 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $3,388,418; $2,973,276)	0	0
Fair Value, Measurements, Recurring [Member] | Other Asset-Backed Securities [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $3,388,418; $2,973,276)	153,261,000	18,645,000
Fair Value, Measurements, Recurring [Member] | Other Asset-Backed Securities [Member] | Level 1 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $3,388,418; $2,973,276)	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 $3,388,418; $2,973,276)	153,261,000	18,645,000
Fair Value, Measurements, Recurring [Member] | Other Asset-Backed Securities [Member] | Level 3 [Member]
Fair Value Measurement [Line Items]
Fixed maturity securities (amortized cost $3,388,418; $2,973,276)	0	0
Fair Value, Measurements, Recurring [Member] | Common Stock [Member]
Fair Value Measurement [Line Items]
Equity securities (cost $695,150; $648,282)	691,782,000	586,367,000
Fair Value, Measurements, Recurring [Member] | Common Stock [Member] | Level 1 [Member]
Fair Value Measurement [Line Items]
Equity securities (cost $695,150; $648,282)	691,782,000	586,367,000
Fair Value, Measurements, Recurring [Member] | Common Stock [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Equity securities (cost $695,150; $648,282)	0	0
Fair Value, Measurements, Recurring [Member] | Common Stock [Member] | Level 3 [Member]
Fair Value Measurement [Line Items]
Equity securities (cost $695,150; $648,282)	0	0
Fair Value, Measurements, Recurring [Member] | Nonredeemable Preferred Stock [Member]
Fair Value Measurement [Line Items]
Equity securities (cost $695,150; $648,282)	32,660,000	49,708,000
Fair Value, Measurements, Recurring [Member] | Nonredeemable Preferred Stock [Member] | Level 1 [Member]
Fair Value Measurement [Line Items]
Equity securities (cost $695,150; $648,282)	0	0
Fair Value, Measurements, Recurring [Member] | Nonredeemable Preferred Stock [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Equity securities (cost $695,150; $648,282)	32,660,000	49,708,000
Fair Value, Measurements, Recurring [Member] | Nonredeemable Preferred Stock [Member] | Level 3 [Member]
Fair Value Measurement [Line Items]
Equity securities (cost $695,150; $648,282)	0	0
Fair Value, Measurements, Recurring [Member] | Private Equity Funds [Member]
Fair Value Measurement [Line Items]
Equity securities (cost $695,150; $648,282)		1,203,000
Fair Value, Measurements, Recurring [Member] | Private Equity Funds [Member] | Level 1 [Member]
Fair Value Measurement [Line Items]
Equity securities (cost $695,150; $648,282)		0
Fair Value, Measurements, Recurring [Member] | Private Equity Funds [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Equity securities (cost $695,150; $648,282)		0
Fair Value, Measurements, Recurring [Member] | Private Equity Funds [Member] | Level 3 [Member]
Fair Value Measurement [Line Items]
Equity securities (cost $695,150; $648,282)		1,203,000
Fair Value, Measurements, Recurring [Member] | Private Equity Funds Net Asset Value [Member]
Fair Value Measurement [Line Items]
Equity securities (cost $695,150; $648,282)	79,409,000	87,473,000
Fair Value, Measurements, Recurring [Member] | Short-term Debt [Member]
Fair Value Measurement [Line Items]
Short-term investments (cost $376,547; $494,060)	26,928,000	32,902,000
Fair Value, Measurements, Recurring [Member] | Short-term Debt [Member] | Level 1 [Member]
Fair Value Measurement [Line Items]
Short-term investments (cost $376,547; $494,060)	21,999,000	2,822,000
Fair Value, Measurements, Recurring [Member] | Short-term Debt [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Short-term investments (cost $376,547; $494,060)	4,929,000	30,080,000
Fair Value, Measurements, Recurring [Member] | Short-term Debt [Member] | Level 3 [Member]
Fair Value Measurement [Line Items]
Short-term investments (cost $376,547; $494,060)	0	0
Fair Value, Measurements, Recurring [Member] | Money Market Funds [Member]
Fair Value Measurement [Line Items]
Short-term investments (cost $376,547; $494,060)	348,676,000	461,233,000
Fair Value, Measurements, Recurring [Member] | Money Market Funds [Member] | Level 1 [Member]
Fair Value Measurement [Line Items]
Short-term investments (cost $376,547; $494,060)	348,676,000	461,233,000
Fair Value, Measurements, Recurring [Member] | Money Market Funds [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Short-term investments (cost $376,547; $494,060)	0	0
Fair Value, Measurements, Recurring [Member] | Money Market Funds [Member] | Level 3 [Member]
Fair Value Measurement [Line Items]
Short-term investments (cost $376,547; $494,060)	0	0
Fair Value, Measurements, Recurring [Member] | Other
Fair Value Measurement [Line Items]
Short-term investments (cost $376,547; $494,060)	5,000
Fair Value, Measurements, Recurring [Member] | Other | Level 1 [Member]
Fair Value Measurement [Line Items]
Short-term investments (cost $376,547; $494,060)	5,000
Fair Value, Measurements, Recurring [Member] | Other | Level 2 [Member]
Fair Value Measurement [Line Items]
Short-term investments (cost $376,547; $494,060)	0
Fair Value, Measurements, Recurring [Member] | Other | Level 3 [Member]
Fair Value Measurement [Line Items]
Short-term investments (cost $376,547; $494,060)	$ 0
Fair Value, Measurements, Recurring [Member] | Equity Contract [Member] | Level 1 [Member]
Fair Value Measurement [Line Items]
Derivative liabilitly		77,000
Fair Value, Measurements, Recurring [Member] | Equity Contract [Member] | Level 2 [Member]
Fair Value Measurement [Line Items]
Derivative liabilitly		0
Fair Value, Measurements, Recurring [Member] | Equity Contract [Member] | Level 3 [Member]
Fair Value Measurement [Line Items]
Derivative liabilitly		$ 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) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Partnership Interest in a Private Credit Fund [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 1,203	$ 1,445
Net realized (losses) gains included in earnings	(1)	101
Settlements	0	(343)
Ending Balance	0	1,203
The amount of total gains for the period included in earnings attributable to assets still held at December 31	0	93
Private Equity Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Transfer out	$ (1,202)	$ 0

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, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	$ 372,532	$ 372,133
Borrowings [Member] | Unsecured Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	372,532	372,133
Notes payable, fair value	415,253	394,279
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	415,253	394,279
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 ($)a	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Property, Plant and Equipment [Line Items]
Fixed assets, gross		$ 464,946	$ 481,046
Less: accumulated depreciation and amortization		(286,023)	(312,060)
Fixed assets, net		178,923	168,986
Depreciation expense		28,000	23,200	$ 19,900
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%
Land [Member]
Property, Plant and Equipment [Line Items]
Fixed assets, gross		18,152	18,152
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Fixed assets, gross		139,274	140,567
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Fixed assets, gross		46,450	70,355
Software Development [Member]
Property, Plant and Equipment [Line Items]
Fixed assets, gross		254,066	244,425
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Fixed assets, gross		$ 7,004	$ 7,547

Deferred Policy Acquisition C_3

Deferred Policy Acquisition Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of year	$ 233,166	$ 215,131	$ 198,151
Policy acquisition costs deferred	641,616	620,120	589,144
Amortization	(627,788)	(602,085)	(572,164)
Balance, end of year	$ 246,994	$ 233,166	$ 215,131

Notes Payable (Schedule of Long

Notes Payable (Schedule of Long-term Debt) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Mar. 08, 2017
Debt Instrument [Line Items]
Total principal amount	$ 375,000	$ 375,000
Unamortized discount and debt issuance costs	2,468	2,867
Total	372,532	$ 372,133
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	1.125%
Maximum [Member] | LIBOR [Member] | Unsecured Debt [Member] | Unsecured Notes Two [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.625%

Notes Payable (Narrative) (Deta

Notes Payable (Narrative) (Details) $ in Thousands	Mar. 29, 2017USD ($)	Mar. 08, 2017USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Repayments of debt		$ 320,000
Unamortized discount and debt issuance costs			$ 2,468	$ 2,867
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]
Debt to total capital ratio	0.15
Commitment fee on undrawn portion of facility	0.125%		0.15%
Unsecured Notes Two [Member] | Revolving Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt to total capital ratio	0.25		0.156
Commitment fee on undrawn portion of facility	0.225%
Unsecured Notes Two [Member] | Revolving Credit Facility [Member] | LIBOR [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.125%
Debt to total capital ratio	0.15
Unsecured Notes Two [Member] | 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 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			1.125%
Unsecured Debt [Member] | Unsecured Notes Two [Member] | LIBOR [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis spread on variable rate			1.625%
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

Notes Payable (Schedule of Matu

Notes Payable (Schedule of Maturities of Debt) (Details) $ in Thousands	Dec. 31, 2020USD ($)
Notes Payable [Abstract]
2021	$ 0
2022	0
2023	0
2024	0
2025	0
Thereafter	375,000
Total	$ 375,000

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Rent expense	$ 14.9
Lessee, operating lease, not yet commenced, amount		$ 5
Minimum [Member]
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease term		1 year
Lessee, operating lease, lease not yet commenced, term of contract		3 years
Maximum [Member]
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease term		7 years
Lessee, operating lease, lease not yet commenced, term of contract		4 years

Leases (Lease Cost) (Details)

Leases (Lease Cost) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	$ 15,814	$ 15,146
Finance lease cost, amortization of assets	338	0
Finance lease cost, interest on lease liabilities	13	0
Variable lease cost	1,697	2,196
Total lease cost	$ 17,862	$ 17,342

Leases (Supplemental Balance Sh

Leases (Supplemental Balance Sheet Information) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease assets	$ 40,554	$ 44,909
Operating lease liabilities	43,825	47,996
Finance lease assets	3,107	0
Finance lease liabilities	$ 2,836	$ 0

Leases (Weighted Average Lease

Leases (Weighted Average Lease Term and Discount Rate) (Details)	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease, weighted average remaining lease term	3 years 9 months 18 days	4 years 4 months 24 days
Financing lease, weighted average remaining lease term	5 years 1 month 6 days	0 years
Operating leases, weighted-average discount rate	2.82%	3.02%
Finance leases, weighted-average discount rate	0.82%	0.00%

Leases (Supplemental Cash Flow

Leases (Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating cash flows from operating leases	$ 15,539	$ 14,289
Operating cash flows from finance leases	13	0
Financing cash flows from finance leases	609	0
ROU assets obtained in exchange for lease liabilities, operating leases	8,673	15,372
ROU assets obtained in exchange for lease liabilities, finance leases	$ 3,047	$ 0

Leases (Maturities of Operating

Leases (Maturities of Operating Lease Liabilities After ASU Adoption) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Operating Leases
2021	$ 15,370
2022	12,739
2023	8,095
2024	4,388
2025	2,832
2026 and thereafter	2,985
Total lease payments	46,409
Less: Imputed interest	2,584
Total lease obligations	43,825	$ 47,996
Finance Leases
2021	622
2022	622
2023	622
2024	622
2025	398
2026 and thereafter	0
Total lease payments	2,886
Less: Imputed interest	50
Total lease obligations	$ 2,836	$ 0

Derivative Financial Instrume_3

Derivative Financial Instruments (Narrative) (Details) - Swap [Member] - FFL [Member] - USD ($) $ in Millions	Feb. 13, 2014	Dec. 31, 2019	Dec. 31, 2018	Jul. 31, 2018	Jan. 31, 2018
Derivative Financial Instruments [Line Items]
Derivative, notional amount			$ 100
Term of swap agreement	1 year	1 year
LIBOR [Member]
Derivative Financial Instruments [Line Items]
Basis spread on variable rate	1.28%			1.05%	1.20%

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, 2020	Dec. 31, 2019
Derivative Financial Instruments [Line Items]
Liability Derivatives	$ 0	$ 77
Not Designated as Hedging Instrument [Member] | Equity contracts [Member] | Other liabilities [Member]
Derivative Financial Instruments [Line Items]
Liability Derivatives	$ 0	$ 77

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, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative Financial Instruments [Line Items]
Gains (Losses) Recognized in Income	$ 22,306	$ 7,378	$ 6,715
Total Return Swap [Member] | Net realized investment gains [Member]
Derivative Financial Instruments [Line Items]
Gains (Losses) Recognized in Income	0	1,039	(3,783)
Equity contracts [Member] | Net realized investment gains [Member]
Derivative Financial Instruments [Line Items]
Gains (Losses) Recognized in Income	$ 22,306	$ 6,339	$ 10,498

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Change in goodwill	$ 0	$ 0
Goodwill impairment loss	0	0
Intangible assets amortization expense	$ 1,000,000	$ 5,100,000	$ 5,500,000

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Schedule Of Components Of Other Intangible Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 75,962	$ 74,313
Accumulated Amortization	(64,640)	(63,677)
Other intangible assets, net	11,322	10,636
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	54,862	53,213
Accumulated Amortization	(52,640)	(52,319)
Other intangible assets, net	$ 2,222	$ 894
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	(7,700)	(7,058)
Other intangible assets, net	$ 7,700	$ 8,342
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_5

Goodwill and Other Intangible Assets (Schedule Of Estimated Future Amortization Expense Related To Intangible Assets) (Details) $ in Thousands	Dec. 31, 2020USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 1,067
2022	1,043
2023	879
2024	851
2025	807
Thereafter	5,275
Net Carrying Amount	$ 9,922

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]
Deferred tax liability adjustment due to tax act	$ 5.6	$ 6.7	$ 8.6
Increase (decrease) in unrecognized tax benefits	(1.4)
Unrecognized tax benefits that would impact effective tax rate	6.2	7.2
Interest and penalty expense, excluding refunds	0.2	(0.1)	$ 0.5
Accrued interest and penalty	$ 3.1	$ 2.8

Income Taxes (Components Of Inc

Income Taxes (Components Of Income Tax Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Federal
Current	$ 69,554	$ 18,109	$ 14,190
Deferred	12,340	40,413	(39,244)
Total	81,894	58,522	(25,054)
State
Current	1,172	(1,430)	1,982
Deferred	828	890	(1,815)
Total	2,000	(540)	167
Current	70,726	16,679	16,172
Deferred	13,168	41,303	(41,059)
Income tax expense (benefit)	$ 83,894	$ 57,982	$ (24,887)

Income Taxes (Reconciliation Of

Income Taxes (Reconciliation Of Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]
Computed tax expense (benefit) at 21%	$ 96,285	$ 79,394	$ (6,429)
Tax-exempt interest income	(12,270)	(12,909)	(13,507)
Dividends received deduction	(1,335)	(1,276)	(1,082)
State tax (benefit) expense	1,678	(869)	439
Nondeductible expenses	983	526	390
Change in federal tax contingency reserve	0	(2,588)	0
Reversal of AMT credit reduction (1)	0	0	(4,088)
Other, net	(1,447)	(4,296)	(610)
Income tax expense (benefit)	$ 83,894	$ 57,982	$ (24,887)
Reduction to alternative minimum tax credit, percent	6.60%

Income Taxes (Deferred Tax Asse

Income Taxes (Deferred Tax Assets And Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
20% of net unearned premiums	$ 61,067	$ 58,448
Discounting of loss reserves and salvage and subrogation recoverable for tax purposes	15,090	12,769
Write-down of impaired investments	293	314
Expense accruals	14,432	8,099
Other deferred tax assets	6,401	3,348
Total gross deferred tax assets	97,283	82,978
Deferred tax liabilities:
Deferred policy acquisition costs	(51,869)	(48,964)
Tax liability on net unrealized gain on securities carried at fair value	(56,531)	(41,273)
Tax depreciation in excess of book depreciation	(12,632)	(8,105)
Undistributed earnings of insurance subsidiaries	(3,382)	(2,855)
Tax amortization in excess of book amortization	(4,666)	(3,264)
Other deferred tax liabilities	(9,335)	(6,481)
Total gross deferred tax liabilities	(138,415)	(110,942)
Net deferred tax liabilities	$ (41,132)	$ (27,964)

Income Taxes (Summary Of Unreco

Income Taxes (Summary Of Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Balance at January 1	$ 6,051	$ 10,615
Additions based on tax positions related to the current year	0	0
Decreases based on tax positions related to prior years	(1,417)	(4,564)
Balance at December 31	$ 4,634	$ 6,051

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, 2020	Dec. 31, 2019	Dec. 31, 2018
Unusual or Infrequent Item, or Both [Line Items]
Prior year claims and claim adjustment expense		$ 22,979	$ 9,794	$ 93,096
Prior year claims and claim adjustment expense payments		937,142	857,872	831,020
Pre-tax catastrophe losses				289,000
Catastrophe [Member]
Unusual or Infrequent Item, or Both [Line Items]
Prior year claims and claim adjustment expense		23,000	9,800	93,100
Pre-tax catastrophe losses, net of reinsurance benefits		64,000	53,000	$ 67,000
Prior year claims and claim adjustment expense payments		5,000	4,000
Pre-tax catastrophe losses		$ 69,000	$ 57,000
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, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Gross reserves at January 1	$ 1,921,255	$ 1,829,412	$ 1,510,613
Reinsurance recoverables on unpaid losses	54,460	76,100	180,859	$ 64,001
Net reserves at January 1	1,845,155	1,648,553	1,446,612
Incurred losses and loss adjustment expense related to:
Current year	2,372,364	2,696,230	2,483,693
Prior year claims and claim adjustment expense	22,979	9,794	93,096
Total incurred losses and loss adjustment expenses	2,395,343	2,706,024	2,576,789
Loss and loss adjustment expense payments related to:
Current year	1,366,661	1,651,550	1,543,828
Prior years	937,142	857,872	831,020
Total payments	2,303,803	2,509,422	2,374,848
Net reserves at December 31	1,936,844	1,845,155	1,648,553
Gross reserves at December 31	1,991,304	1,921,255	1,829,412
Cumulative Effect, Period of Adoption, Adjustment
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Reinsurance recoverables on unpaid losses		(149)	0	0
Cumulative Effect, Period of Adoption, Adjusted Balance
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Reinsurance recoverables on unpaid losses		75,951	$ 180,859	$ 64,001
Net reserves at January 1	$ 1,845,304
Loss and loss adjustment expense payments related to:
Net reserves at December 31		$ 1,845,304

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, 2020USD ($)number_of_claims	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2012USD ($)	Dec. 31, 2011USD ($)
Claims Development [Line Items]
Net outstanding liabilities	$ 1,820,077
Property insurance product line, automobile [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	16,138,435
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	14,695,210
All outstanding liabilities before 2011, net of reinsurance	(531)
Net outstanding liabilities	1,442,694
Property insurance product line, homeowners' [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	2,647,227
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	2,415,495
All outstanding liabilities before 2011, net of reinsurance	1,457
Net outstanding liabilities	233,189
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	1,401,543	$ 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	$ 59
Cumulative Number of Reported Claims | number_of_claims	181
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,401,592	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 2011 [Member] | Property insurance product line, homeowners' [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	170,402	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	$ 167
Cumulative Number of Reported Claims | number_of_claims	23
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 169,958	169,899	169,757	168,914	168,621	167,806	166,375	162,870	153,845	$ 111,909
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	1,440,537	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	$ 116
Cumulative Number of Reported Claims | number_of_claims	181
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,440,482	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 2012 [Member] | Property insurance product line, homeowners' [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	193,002	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	$ 120
Cumulative Number of Reported Claims | number_of_claims	25
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 192,454	192,362	191,660	190,649	190,373	188,121	182,756	175,029	$ 128,618
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	1,468,747	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	$ 816
Cumulative Number of Reported Claims | number_of_claims	185
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,466,356	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 2013 [Member] | Property insurance product line, homeowners' [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	187,683	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	$ 142
Cumulative Number of Reported Claims | number_of_claims	23
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 186,816	186,494	186,132	185,168	183,860	180,858	174,295	$ 133,528
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	1,501,713	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	$ 718
Cumulative Number of Reported Claims | number_of_claims	180
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,496,814	1,490,366	1,476,944	1,432,472	1,358,472	1,231,413	967,481
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	208,743	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	$ 592
Cumulative Number of Reported Claims | number_of_claims	25
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 207,524	203,333	202,193	198,758	194,605	186,996	$ 139,615
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	1,649,170	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	$ 4,577
Cumulative Number of Reported Claims | number_of_claims	170
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,634,780	1,614,188	1,560,480	1,466,368	1,336,223	1,040,253
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	239,941	238,652	236,855	233,501	234,881	234,800
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 2,950
Cumulative Number of Reported Claims | number_of_claims	24
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 235,971	234,683	230,480	224,178	213,994	$ 163,196
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	1,732,410	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	$ 8,206
Cumulative Number of Reported Claims | number_of_claims	155
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,699,069	1,656,192	1,554,217	1,395,199	1,094,006
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	260,496	259,708	259,497	259,489	250,691
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 1,821
Cumulative Number of Reported Claims | number_of_claims	24
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 256,642	253,919	245,878	234,215	$ 173,537
Short-duration Insurance Contracts, Accident Year 2017 | Property insurance product line, automobile [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	1,733,425	1,741,825	1,727,277	1,703,857
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 22,626
Cumulative Number of Reported Claims | number_of_claims	149
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,648,328	1,561,850	1,399,202	1,076,079
Short-duration Insurance Contracts, Accident Year 2017 | Property insurance product line, homeowners' [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	289,869	288,322	295,163	309,491
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 2,702
Cumulative Number of Reported Claims | number_of_claims	30
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 283,311	278,341	269,254	$ 217,900
Short-duration Insurance Contracts, Accident Year 2018 | Property insurance product line, automobile [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	1,785,071	1,773,502	1,781,817
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 60,829
Cumulative Number of Reported Claims | number_of_claims	146
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,588,049	1,417,637	1,082,127
Short-duration Insurance Contracts, Accident Year 2018 | Property insurance product line, homeowners' [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	310,695	308,361	311,798
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 9,704
Cumulative Number of Reported Claims | number_of_claims	25
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 286,658	271,534	$ 213,038
Short-Duration Insurance Contract, Accident Year 2019 | Property insurance product line, automobile [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	1,911,268	1,916,269
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 165,108
Cumulative Number of Reported Claims | number_of_claims	147
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,494,342	1,134,859
Short-Duration Insurance Contract, Accident Year 2019 | Property insurance product line, homeowners' [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	366,139	359,643
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 17,580
Cumulative Number of Reported Claims | number_of_claims	30
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 324,953	$ 240,240
Short-Duration Insurance Contract, Accident Year 2020 | Property insurance product line, automobile [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	1,514,551
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 407,969
Cumulative Number of Reported Claims | number_of_claims	85
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 825,398
Short-Duration Insurance Contract, Accident Year 2020 | Property insurance product line, homeowners' [Member]
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	420,257
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 77,396
Cumulative Number of Reported Claims | number_of_claims	26
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 271,208

Loss And Loss Adjustment Expe_6

Loss And Loss Adjustment Expense Reserves - Average Annual Percentage Payout of Incurred Claims by Age (Details)	Dec. 31, 2020
Property insurance product line, automobile [Member]
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Short-duration insurance contracts, historical claims duration, year one	62.60%
Short-duration insurance contracts, historical claims duration, year two	17.60%
Short-duration insurance contracts, historical claims duration, year three	8.70%
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	1.00%
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	0.10%
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	67.90%
Short-duration insurance contracts, historical claims duration, year two	21.90%
Short-duration insurance contracts, historical claims duration, year three	4.10%
Short-duration insurance contracts, historical claims duration, year four	2.30%
Short-duration insurance contracts, historical claims duration, year five	1.20%
Short-duration insurance contracts, historical claims duration, year six	0.40%
Short-duration insurance contracts, historical claims duration, year seven	0.70%
Short-duration insurance contracts, historical claims duration, year eight	0.30%
Short-duration insurance contracts, historical claims duration, year nine	0.10%
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, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Net outstanding liabilities	$ 1,820,077
Reinsurance recoverables on unpaid losses	54,460
Insurance lines other than short-duration	676
Unallocated claims adjustment expenses	116,091
Unallocated claims adjustment expenses, aggregate reconciling items	116,767
Total gross loss and loss adjustment expense reserves	1,991,304	$ 1,921,255	$ 1,829,412	$ 1,510,613
Property insurance product line, automobile [Member]
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Net outstanding liabilities	1,442,694
Reinsurance recoverables on unpaid losses	18,187
Property insurance product line, homeowners' [Member]
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Net outstanding liabilities	233,189
Reinsurance recoverables on unpaid losses	35,214
Property Insurance Product Line, WAIC Automobile [Member]
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Net outstanding liabilities	13,903
Other Short-duration Insurance Product Line [Member]
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Net outstanding liabilities	130,291
Reinsurance recoverables on unpaid losses	$ 1,059

Dividends (Dividends Paid In To

Dividends (Dividends Paid In Total And Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	Feb. 12, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Dividends [Abstract]
Total paid		$ 139,640	$ 139,071	$ 138,478
Per share (in dollars per share)		$ 2.5225	$ 2.5125	$ 2.5025
Maximum dividend payable without prior permission of DOI of states domicile		$ 222,000
Payments of ordinary dividends		$ 121,000	$ 114,000	$ 135,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Quarterly dividend declared (in dollars per share)	$ 0.6325

Statutory Balances and Accoun_3

Statutory Balances and Accounting Practices (Schedule Of Statutory Net Income And Capital And Surplus) (Details) $ in Thousands		12 Months Ended
		Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Statutory Balances And Accounting Practices [Abstract]
Statutory net income	[1]	$ 283,928	$ 135,670	$ 81,935
Statutory capital and surplus		$ 1,768,103	$ 1,539,998	$ 1,471,547
RBC authorized control level		3.50	3.50	3.50
Minimum RBC authorized control level		2	2	2
[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, 2020	Dec. 31, 2019	Dec. 31, 2018
Deferred Compensation Arrangements [Abstract]
Maximum percentage of compensation employee is allowed to contribute	15.00%
Matching contributions	$ 11,200,000	$ 9,900,000	$ 9,000,000
Bonus expense, cash	$ 11,600,000	$ 0	$ 0

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details)	1 Months Ended		12 Months Ended
	Feb. 28, 2019shares	Feb. 28, 2018executiveshares	Dec. 31, 2020USD ($)shares	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)shares	Dec. 31, 2017shares	Feb. 28, 2015shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options outstanding (in shares)			67,500	67,500
Vesting term			4 years
Options forfeited	10,000		0
Intrinsic value of stock options exercised | $				$ 217,064	$ 42,000
Total fair value of stock options vested | $			$ 141,584	$ 141,584	$ 0
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	0	75,250	169,000
Granted, shares (in shares)			0	0	0
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	0
Compensation expense not yet recognized | $			$ 200,000
Compensation expense not yet recognized, period for recognition			1 year 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

Share-Based Compensation (Share

Share-Based Compensation (Share-based Compensation Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement [Abstract]
Cash received from stock option exercises	$ 0	$ 701	$ 358
Compensation cost, all share-based awards	142	123	145
Excess tax (benefit) expense, all share-based awards	$ 0	$ (7)	$ (4)

Share-Based Compensation (Stock

Share-Based Compensation (Stock Option Valuation Assumptions) (Details) - Stock Options [Member]	12 Months Ended
	Dec. 31, 2020$ / 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, 2019	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding Shares, Beginning balance (in shares)		67,500
Exercised, (in shares)		0
Canceled or expired, (in shares)	(10,000)	0
Outstanding Shares, Ending balance (in share)		67,500
Exercisable, (in shares)		32,500
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)		$ 43.01
Exercised, Weighted-Average Exercise Price (in dollars per share)		0
Canceled or Expired, Weighted-Average Exercise Price (in dollars per share)		0
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)		7 years 1 month 6 days
Exercisable, Weighted-Average Remaining Contractual Term (Years)		7 years 1 month 6 days
Outstanding, Aggregate Intrinsic Value		$ 621
Exercisable, Aggregate Intrinsic Value		$ 299

Share-Based Compensation (Sto_2

Share-Based Compensation (Stock Option Awards) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding (in shares)	67,500	67,500
Options Outstanding, Weighted-Avg. Remaining Contractual Life (Years)	7 years 1 month 6 days
Options Outstanding, Weighted-Avg. Exercise Price (in dollars per share)	$ 43.01	$ 43.01
Number of options exercisable (in shares)	32,500
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)	7 years 1 month 6 days
Options Outstanding, Weighted-Avg. Exercise Price (in dollars per share)	$ 43.01
Number of options exercisable (in shares)	32,500
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, 2020	Dec. 31, 2019	Dec. 31, 2018
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)	0	75,250	169,000
Vested, shares (in shares)	0	0	0
Forfeited/canceled, shares (in shares)	0	(6,000)	(8,000)
Expired, shares (in shares)	0	(69,250)	(85,750)
Outstanding shares, Ending balance (in shares)	0	0	75,250
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)	$ 0	$ 53.49	$ 53.66
Vested, Weighted-Average Fair Value per Share (in dollars per share)	0	0	0
Forfeited/Canceled, Weighted-Average Fair Value per Share (in dollars per share)	0	53.49	53.49
Expired, Weighted-Average Fair Value per Share (in dollars per share)	0	53.49	53.80
Outstanding, Weighted-Average Fair Value per Share, Ending (in dollars per share)	$ 0	$ 0	$ 53.49

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income (Numerator)
Income available to common stockholders, Basic									$ 374,607	$ 320,087	$ (5,728)
Income available to common stockholders after assumed conversions, Diluted									$ 374,607	$ 320,087	$ (5,728)
Weighted Shares (Denominator)
Weighted shares, basic (in shares)									55,358,000	55,351,000	55,335,000
Weighted shares, diluted (in shares)									55,358,000	55,360,000	55,335,000
Earnings Per Share Basic and Diluted, Per Share Amounts [Abstract]
Basic (in dollars per share)	$ 3.01	$ 2.15	$ 4.12	$ (2.51)	$ 0.57	$ 1.25	$ 1.50	$ 2.46	$ 6.77	$ 5.78	$ (0.10)
Diluted (in dollars per share)	$ 3.01	$ 2.15	$ 4.12	$ (2.51)	$ 0.57	$ 1.25	$ 1.50	$ 2.45	$ 6.77	$ 5.78	$ (0.10)
Common Stock [Member]
Earnings Per Share Basic and Diluted, Per Share Amounts [Abstract]
Potentially dilutive securities (in shares)									67,500	0	78,500
Stock Options [Member]
Income (Numerator)
Effect of dilutive securities: Options									$ 0	$ 0	$ 0
Weighted Shares (Denominator)
Effect of dilutive securities: options (in shares)									0	9,000	0

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	Apr. 28, 2020	Dec. 31, 2020
Loss Contingencies [Line Items]
Exposure to earthquake loss	$ 78
Reduction in premiums written, net		$ 128

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, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Data [Abstract]
Net premiums earned	$ 921,860	$ 899,304	$ 811,897	$ 922,574	$ 925,384	$ 915,012	$ 888,776	$ 870,245	$ 3,555,635	$ 3,599,418	$ 3,368,411
Change in fair value of financial instruments pursuant to the fair value option	87,968	58,865	166,829	(240,990)	18,173	24,021	50,281	104,227
(Loss) income before income taxes	207,110	146,631	285,466	(180,705)	28,465	80,840	101,595	167,169	458,501	378,069	(30,615)
Net income (loss)	$ 166,743	$ 118,857	$ 228,211	$ (139,204)	$ 31,688	$ 69,282	$ 83,250	$ 135,867	$ 374,607	$ 320,087	$ (5,728)
Basic (loss) earnings per share (in dollars per share)	$ 3.01	$ 2.15	$ 4.12	$ (2.51)	$ 0.57	$ 1.25	$ 1.50	$ 2.46	$ 6.77	$ 5.78	$ (0.10)
Diluted (loss) earnings per share (in dollars per share)	3.01	2.15	4.12	(2.51)	0.57	1.25	1.50	2.45	6.77	5.78	$ (0.10)
Dividends paid per share (in dollars per share)	$ 0.6325	$ 0.6300	$ 0.6300	$ 0.6300	$ 0.6300	$ 0.6275	$ 0.6275	$ 0.6275	$ 0.6325	$ 0.6300

Segment Information - Summary o

Segment Information - Summary of Operating Results by Segment (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020USD ($)State	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2020USD ($)StatesegmentSubsidiary	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
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	$ 921,860	$ 899,304	$ 811,897	$ 922,574	$ 925,384	$ 915,012	$ 888,776	$ 870,245	$ 3,555,635	$ 3,599,418	$ 3,368,411
Losses and loss adjustment expenses									2,395,343	2,706,024	2,576,789
Underwriting expenses									913,700	871,400	816,800
Underwriting gain (loss)									246,600	22,000	(25,200)
Net investment income									134,858	141,263	135,838
Net realized investment gains (losses)									85,731	222,793	(133,520)
Other income									8,287	9,044	9,275
Interest expense									(17,048)	(17,035)	(17,036)
Income (loss) before income taxes	207,110	146,631	285,466	(180,705)	28,465	80,840	101,595	167,169	458,501	378,069	(30,615)
Net income (loss)	$ 166,743	$ 118,857	$ 228,211	$ (139,204)	$ 31,688	$ 69,282	$ 83,250	$ 135,867	374,607	320,087	(5,728)
Property and Casualty Lines [Member]
Segment Reporting Information [Line Items]
Net premiums earned									3,526,753	3,571,042	3,337,916
Losses and loss adjustment expenses									2,381,500	2,692,700	2,562,000
Underwriting expenses									899,100	857,300	802,700
Underwriting gain (loss)									246,200	21,000	(26,800)
Other Segments [Member]
Segment Reporting Information [Line Items]
Net premiums earned									28,800	28,400	30,500
Losses and loss adjustment expenses									13,800	13,300	14,800
Underwriting expenses									14,600	14,100	14,100
Underwriting gain (loss)									$ 400	$ 1,000	$ 1,600

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, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net premiums earned	$ 921,860	$ 899,304	$ 811,897	$ 922,574	$ 925,384	$ 915,012	$ 888,776	$ 870,245	$ 3,555,635	$ 3,599,418	$ 3,368,411
Direct premiums written									3,654,200	3,774,600	3,550,900
Private passenger automobile [Member]
Segment Reporting Information [Line Items]
Net premiums earned									2,591,300	2,756,500	2,602,100
Direct premiums written									2,569,000	2,820,500	2,703,600
Homeowners [Member]
Segment Reporting Information [Line Items]
Net premiums earned									601,300	514,800	459,400
Direct premiums written									678,900	598,500	524,900
Commercial automobile [Member]
Segment Reporting Information [Line Items]
Net premiums earned									225,600	208,700	190,100
Direct premiums written									240,800	217,300	198,500
Other insurance product line [Member]
Segment Reporting Information [Line Items]
Net premiums earned									137,400	119,400	116,800
Direct premiums written									165,500	138,300	123,900
Property and Casualty Lines [Member]
Segment Reporting Information [Line Items]
Net premiums earned									3,526,753	3,571,042	3,337,916
Direct premiums written									3,624,965	3,742,627	3,524,186
Property and Casualty Lines [Member] | Private passenger automobile [Member]
Segment Reporting Information [Line Items]
Net premiums earned									2,591,300	2,756,500	2,602,100
Direct premiums written									2,569,000	2,820,500	2,703,600
Property and Casualty Lines [Member] | Homeowners [Member]
Segment Reporting Information [Line Items]
Net premiums earned									601,300	514,800	459,400
Direct premiums written									678,900	598,500	524,900
Property and Casualty Lines [Member] | Commercial automobile [Member]
Segment Reporting Information [Line Items]
Net premiums earned									225,600	208,700	190,100
Direct premiums written									240,800	217,300	198,500
Property and Casualty Lines [Member] | Other insurance product line [Member]
Segment Reporting Information [Line Items]
Net premiums earned									108,600	91,000	86,300
Direct premiums written									136,300	106,300	97,200
Other Segments [Member]
Segment Reporting Information [Line Items]
Net premiums earned									28,800	28,400	30,500
Direct premiums written									29,200	32,000	26,700
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									28,800	28,400	30,500
Direct premiums written									$ 29,200	$ 32,000	$ 26,700

Summary Of Investments Other _2

Summary Of Investments Other Than Investments In Related Parties (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	$ 4,460,115	$ 4,115,618
Fair value	4,729,270	4,312,161
Amounts in the balance sheet	4,729,270	4,312,161
US Government Agencies Debt Securities [Member]
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	13,756	22,502
Fair value	13,816	22,637
Amounts in the balance sheet	13,816	22,637
Municipal Bonds [Member]
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	2,632,559	2,435,346
Fair value	2,791,212	2,554,208
Amounts in the balance sheet	2,791,212	2,554,208
Collateralized Mortgage Backed Securities [Member]
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	91,527	62,566
Fair value	93,264	63,003
Amounts in the balance sheet	93,264	63,003
Corporate Debt Securities [Member]
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	240,486	233,730
Fair value	241,366	235,565
Amounts in the balance sheet	241,366	235,565
Collateralized Debt Obligations [Member]
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	256,558	200,656
Fair value	256,891	199,218
Amounts in the balance sheet	256,891	199,217
Other Debt Obligations [Member]
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	153,532	18,476
Fair value	153,261	18,644
Amounts in the balance sheet	153,261	18,645
Fixed Maturity Securities [Member]
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	3,388,418	2,973,276
Fair value	3,549,810	3,093,275
Amounts in the balance sheet	3,549,810	3,093,275
Common Stock [Member]
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	563,394	498,514
Fair value	691,782	586,367
Amounts in the balance sheet	691,782	586,367
Nonredeemable Preferred Stock [Member]
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	31,430	49,442
Fair value	32,660	49,708
Amounts in the balance sheet	32,660	49,708
Private Equity Funds [Member]
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost		1,137
Fair value		1,203
Amounts in the balance sheet		1,203
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	100,326	99,189
Fair value	79,409	87,473
Amounts in the balance sheet	79,409	87,473
Equity Securities [Member]
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	695,150	648,282
Fair value	803,851	724,751
Amounts in the balance sheet	803,851	724,751
Short-term Investments [Member]
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	376,547	494,060
Fair value	375,609	494,135
Amounts in the balance sheet	$ 375,609	$ 494,135

Condensed Financial Informati_2

Condensed Financial Information of Registrant (Schedule Of Condensed Financial Information Of Registrant, Balance Sheets) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Investments, at fair value:
Equity securities (cost $75,099; $81,802)	$ 803,851	$ 724,751
Short-term investments (cost $4,269; $29,356)	375,609	494,135
Total investments	4,729,270	4,312,161
Cash	348,479	294,398
Accrued investment income	42,985	40,107
Current income taxes	0	7,642
Other assets	38,635	44,247
Total assets	6,328,246	5,889,157
Liabilities
Notes payable	372,532	372,133
Accounts payable and accrued expenses	194,421	143,318
Deferred income taxes	41,132	27,964
Other liabilities	236,136	221,442
Total liabilities	4,295,649	4,089,655
Shareholders’ equity:
Common stock	98,970	98,828
Retained earnings	1,933,627	1,700,674
Total shareholders’ equity	2,032,597	1,799,502	$ 1,617,684
Total liabilities and shareholders’ equity	6,328,246	5,889,157
Cost - equity security trading investments	695,150	648,282
Cost - short-term investments	376,547	494,060
Parent Company [Member]
Investments, at fair value:
Equity securities (cost $75,099; $81,802)	110,596	114,668
Short-term investments (cost $4,269; $29,356)	4,269	29,356
Investment in subsidiaries	2,285,417	2,008,163
Total investments	2,400,282	2,152,187
Cash	24,652	39,766
Accrued investment income	20	90
Amounts receivable from affiliates	250	244
Income tax receivable from affiliates	5,862	9,192
Other assets	221	312
Total assets	2,431,287	2,201,791
Liabilities
Notes payable	372,532	372,133
Accounts payable and accrued expenses	0	17
Amounts payable to affiliates	30	22
Income tax payable to affiliates	2,724	4,106
Current income taxes	10,074	14,052
Deferred income taxes	8,470	7,059
Other liabilities	4,860	4,900
Total liabilities	398,690	402,289
Shareholders’ equity:
Common stock	98,970	98,828
Retained earnings	1,933,627	1,700,674
Total shareholders’ equity	2,032,597	1,799,502
Total liabilities and shareholders’ equity	2,431,287	2,201,791
Cost - equity security trading investments	75,099	81,802
Cost - short-term investments	$ 4,269	$ 29,356

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, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Net investment income									$ 134,858	$ 141,263	$ 135,838
Net realized investment gains (losses)									85,731	222,793	(133,520)
Other									8,287	9,044	9,275
Total revenues									3,784,511	3,972,518	3,380,004
Expenses:
Other operating expenses									285,831	269,305	244,630
Interest									17,048	17,035	17,036
Total expenses									3,326,010	3,594,449	3,410,619
Income (loss) before income taxes	$ 207,110	$ 146,631	$ 285,466	$ (180,705)	$ 28,465	$ 80,840	$ 101,595	$ 167,169	458,501	378,069	(30,615)
Income tax expense (benefit)									83,894	57,982	(24,887)
Net income (loss)	$ 166,743	$ 118,857	$ 228,211	$ (139,204)	$ 31,688	$ 69,282	$ 83,250	$ 135,867	374,607	320,087	(5,728)
Parent Company [Member]
Revenues:
Net investment income									3,323	3,735	4,661
Net realized investment gains (losses)									9,575	31,682	(10,797)
Other									0	5	2
Total revenues									12,898	35,422	(6,134)
Expenses:
Other operating expenses									3,054	2,592	2,343
Interest									17,035	17,036	17,036
Total expenses									20,089	19,628	19,379
Income (loss) before income taxes									(7,191)	15,794	(25,513)
Income tax expense (benefit)									600	2,816	(5,144)
(Loss) income before equity in net income of subsidiaries									(7,791)	12,978	(20,369)
Equity in net income of subsidiaries									382,398	307,109	14,641
Net income (loss)									$ 374,607	$ 320,087	$ (5,728)

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, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net cash provided by operating activities	$ 605,616,000	$ 519,678,000	$ 383,434,000
Cash flows from investing activities:
Capital distribution from subsidiaries	12,100,000	5,200,000
Equity securities available for sale in nature
Purchases	(1,230,785,000)	(1,174,759,000)	(1,026,827,000)
Sales	1,174,540,000	1,088,701,000	954,755,000
Other, net	20,577,000	6,247,000	10,105,000
Net cash used in investing activities	(411,286,000)	(401,201,000)	(222,436,000)
Cash flows from financing activities:
Dividends paid to shareholders	(139,640,000)	(139,071,000)	(138,478,000)
Proceeds from stock options exercised	0	701,000	358,000
Net cash used in financing activities	(140,249,000)	(138,370,000)	(138,120,000)
Net (decrease) increase in cash	54,081,000	(19,893,000)	22,878,000
Cash:
Beginning of year	294,398,000	314,291,000	291,413,000
End of year	348,479,000	294,398,000	314,291,000
SUPPLEMENTAL CASH FLOW DISCLOSURE
Interest paid	16,599,000	16,586,000	16,586,000
Income taxes (refunded) paid, net	52,659,000	(14,564,000)	(10,989,000)
Parent Company [Member]
Cash flows from operating activities:
Net cash provided by operating activities	(17,339,000)	(5,392,000)	(16,108,000)
Cash flows from investing activities:
Capital contribution to subsidiaries	(30,000,000)	(125,000)	(540,619)
Capital distribution from subsidiaries	0	30,068,567	0
Distributions received from special purpose entities	12,129,000	5,153,000	5,998,000
Dividends received from subsidiaries	121,000,000	114,431,000	135,000,000
Equity securities available for sale in nature
Purchases	(54,571,000)	(39,966,000)	(22,286,000)
Sales	67,965,000	74,663,000	33,052,000
Decrease (increase) in short-term investments	25,088,000	(25,213,000)	18,065,000
Other, net	254,000	376,000	605,000
Net cash used in investing activities	141,865,000	159,388,000	169,893,000
Cash flows from financing activities:
Dividends paid to shareholders	(139,640,000)	(139,071,000)	(138,478,000)
Proceeds from stock options exercised	0	701,000	358,000
Net cash used in financing activities	(139,640,000)	(138,370,000)	(138,120,000)
Net (decrease) increase in cash	(15,114,000)	15,626,000	15,665,000
Cash:
Beginning of year	39,766,000	24,140,000	8,475,000
End of year	24,652,000	39,766,000	24,140,000
SUPPLEMENTAL CASH FLOW DISCLOSURE
Interest paid	16,586,000	16,586,000	16,586,000
Income taxes (refunded) paid, net	$ (20,552,000)	$ (12,391,000)	$ 4,296,000

Condensed Financial Informati_5

Condensed Financial Information of Registrant Condensed Financial Information of Registrant (Narratives) (Details)	Mar. 29, 2017USD ($)	Mar. 08, 2017USD ($)	Feb. 13, 2014	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Jul. 31, 2018	Jan. 31, 2018
Condensed Financial Statements, Captions [Line Items]
Capital distribution from subsidiaries				$ 12,100,000	$ 5,200,000
Proceeds from dividends received				121,000,000	$ 114,431,433	$ 135,000,000
Repayments of debt		$ 320,000,000
Swap [Member] | FFL [Member]
Condensed Financial Statements, Captions [Line Items]
Term of swap agreement			1 year		1 year
Derivative, notional amount						100,000,000
Swap [Member] | FFL [Member] | LIBOR [Member]
Condensed Financial Statements, Captions [Line Items]
Basis spread on variable rate			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]
Debt to total capital ratio	0.15
Commitment fee on undrawn portion of facility	0.125%			0.15%
Minimum [Member] | Unsecured Notes Two [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] | Unsecured Debt [Member] | LIBOR [Member]
Condensed Financial Statements, Captions [Line Items]
Basis spread on variable rate				1.125%
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	0.25			0.156
Commitment fee on undrawn portion of facility	0.225%
Maximum [Member] | Unsecured Notes Two [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] | Unsecured Debt [Member] | LIBOR [Member]
Condensed Financial Statements, Captions [Line Items]
Basis spread on variable rate				1.625%
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Capital distribution from subsidiaries				$ 0	$ 30,068,567	0
Payments for contributions to subsidiaries				$ 30,000,000	$ 125,000	$ 540,619

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, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract]
Direct amounts									$ 3,603,780	$ 3,655,233	$ 3,416,687
Ceded to other companies									(56,212)	(56,725)	(48,941)
Assumed									8,067	910	665
Net amounts	$ 921,860	$ 899,304	$ 811,897	$ 922,574	$ 925,384	$ 915,012	$ 888,776	$ 870,245	$ 3,555,635	$ 3,599,418	$ 3,368,411