Mercury General (MCY) 10-K 11 Feb 25 2024 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2024	Feb. 06, 2025	Jun. 30, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
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
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 1,411,146,942
Entity Common Stock, Shares Outstanding		55,388,627
Documents Incorporated by Reference	Certain information from the registrant’s definitive proxy statement for the 2025 Annual Meeting of Shareholders is incorporated herein by reference into Part III hereof.
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Entity Central Index Key	0000064996

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Auditor Information [Abstract]
Auditor Firm ID	185
Auditor Name	KPMG LLP
Auditor Location	Los Angeles, California

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
ASSETS
Fixed maturity securities (amortized cost $4,982,459; $4,394,983)	$ 4,913,378	$ 4,319,336
Equity securities (cost $795,068; $654,939)	879,175	730,693
Short-term investments (cost $283,792; $179,375)	283,817	178,491
Total investments	6,076,370	5,228,520
Cash	720,257	550,903
Receivables:
Premiums	697,176	607,025
Allowance for credit losses on premiums receivable	(6,400)	(5,300)
Premiums receivable, net of allowance for credit losses	690,776	601,725
Accrued investment income	67,630	59,128
Other	62,118	25,603
Total receivables	820,524	686,456
Reinsurance recoverables (net of allowance for credit losses $0; $12)	28,613	31,947
Deferred policy acquisition costs	335,332	293,844
Fixed assets, net	138,177	151,183
Operating lease right-of-use assets	13,407	14,406
Current income taxes	0	4,081
Deferred income taxes	45,854	33,013
Goodwill	42,796	42,796
Other intangible assets, net	7,682	8,333
Other assets	81,620	57,915
Total assets	8,310,632	7,103,397
Liabilities
Loss and loss adjustment expense reserves	3,152,031	2,785,702
Unearned premiums	2,039,830	1,735,660
Notes payable	574,128	573,729
Accounts payable and accrued expenses	242,118	175,219
Operating lease liabilities	13,580	14,231
Current income taxes	20,752	0
Other liabilities	321,669	270,711
Total liabilities	6,364,108	5,555,252
Commitments and contingencies
Shareholders’ equity:
Common stock without par value or stated value, Authorized 70,000 shares; issued and outstanding 55,389; 55,371	99,699	98,947
Retained earnings	1,846,825	1,449,198
Total shareholders’ equity	1,946,524	1,548,145
Total liabilities and shareholders’ equity	$ 8,310,632	$ 7,103,397

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Amortized cost on fixed maturities trading investments	$ 4,982,459	$ 4,394,983
Cost - equity security trading investments	795,068	654,939
Cost - short-term investments	283,792	179,375
Reinsurance recoverable, allowance for credit losses	$ 0	$ (12)
Common Stock
Common stock, shares authorized (in shares)	70,000,000	70,000,000
Common stock, shares issued (in shares)	55,389,000	55,371,000
Common stock, shares outstanding (in shares)	55,389,000	55,371,000

Consolidated Statements Of Oper

Consolidated Statements Of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues:
Net premiums earned	$ 5,075,456	$ 4,274,378	$ 3,952,482
Net investment income	279,989	234,630	168,356
Net realized investment gains (losses)	88,671	101,014	(488,080)
Other	31,517	19,609	10,308
Total revenues	5,475,633	4,629,631	3,643,066
Expenses:
Losses and loss adjustment expenses	3,684,511	3,517,853	3,362,219
Policy acquisition costs	858,261	708,525	654,612
Other operating expenses	327,157	279,656	279,718
Interest	30,824	24,169	17,232
Total expenses	4,900,753	4,530,203	4,313,781
Income (loss) before income taxes	574,880	99,428	(670,715)
Income tax expense (benefit)	106,927	3,092	(158,043)
Net income (loss)	$ 467,953	$ 96,336	$ (512,672)
Net income (loss) per share:
Basic (in dollars per share)	$ 8.45	$ 1.74	$ (9.26)
Diluted (in dollars per share)	$ 8.45	$ 1.74	$ (9.26)

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common stock	Retained Earnings
Shareholders' equity, beginning balance at Dec. 31, 2021		$ 98,943	$ 2,041,338
Proceeds from stock options exercised		0
Share-based compensation expense		15
Withholding tax on stock options exercised		(11)
Net income (loss)	$ (512,672)		(512,672)
Dividends paid to shareholders			(105,482)
Shareholders' equity, ending balance at Dec. 31, 2022	1,522,131	98,947	1,423,184
Proceeds from stock options exercised		0
Share-based compensation expense		0
Withholding tax on stock options exercised		0
Net income (loss)	96,336		96,336
Dividends paid to shareholders			(70,322)
Shareholders' equity, ending balance at Dec. 31, 2023	1,548,145	98,947	1,449,198
Proceeds from stock options exercised		752
Share-based compensation expense		0
Withholding tax on stock options exercised		0
Net income (loss)	467,953		467,953
Dividends paid to shareholders			(70,326)
Shareholders' equity, ending balance at Dec. 31, 2024	$ 1,946,524	$ 99,699	$ 1,846,825

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 467,953	$ 96,336	$ (512,672)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	73,433	72,240	82,390
Net realized investment (gains) losses	(88,671)	(101,014)	488,080
Net (gains) losses on sales of fixed assets	(20,111)	(5,879)	86
Loss on property held for sale	6,420	0	841
(Increase) decrease in premiums receivable	(89,051)	(35,615)	49,630
Decrease (increase) in reinsurance recoverables	3,334	(6,052)	19,105
Changes in current and deferred income taxes	11,992	60,945	(131,500)
Increase in deferred policy acquisition costs	(41,488)	(27,369)	(8,216)
Increase in loss and loss adjustment expense reserves	366,329	200,792	358,480
Increase in unearned premiums	304,170	190,021	25,840
Increase (decrease) in accounts payable and accrued expenses	67,139	23,162	(15,844)
Other, net	(24,332)	(14,563)	(3,631)
Net cash provided by operating activities	1,037,117	453,004	352,589
Fixed maturity securities available for sale in nature:
Purchases	(1,720,986)	(784,752)	(1,794,817)
Sales	171,432	276,805	856,291
Calls or maturities	940,858	294,309	480,023
Equity securities available for sale in nature:
Purchases	(1,663,525)	(1,356,493)	(1,042,913)
Sales	1,550,229	1,356,132	1,154,523
Calls	7,185	0	0
Changes in securities payable and receivable	32,327	(36,435)	22,124
(Increase) decrease in short-term investments	(92,156)	(48,446)	38,141
Purchases of fixed assets	(46,138)	(36,810)	(35,508)
Sales of fixed assets	12,707	29,860	3
Other, net	11,411	10,377	5,749
Net cash used in investing activities	(796,656)	(295,453)	(316,384)
CASH FLOWS FROM FINANCING ACTIVITIES
Dividends paid to shareholders	(70,326)	(70,322)	(105,482)
Proceeds from stock options exercised	752	0	0
Payments on finance lease obligations	(1,533)	(1,102)	(1,504)
Proceeds from bank loan	0	175,000	25,000
Net cash (used in) provided by financing activities	(71,107)	103,576	(81,986)
Net increase (decrease) in cash	169,354	261,127	(45,781)
Cash:
Beginning of year	550,903	289,776	335,557
End of year	720,257	550,903	289,776
SUPPLEMENTAL CASH FLOW DISCLOSURE
Interest paid	30,077	23,000	16,665
Income taxes (refunded) paid, net	$ 94,935	$ (57,853)	$ (26,542)

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
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 12 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 accounted for more than 61% of the Company’s direct premiums written in 2024, 2023, and 2022, and approximately 84%, 82%, and 82% of the private passenger automobile premiums were written in California in 2024, 2023, and 2022, 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") American Mercury Insurance Company Mercury Insurance Company ("MIC") American Mercury Lloyds Insurance Company (1) California Automobile Insurance Company ("CAIC") Mercury County Mutual Insurance Company (2) California General Underwriters Insurance Company, Inc. Mercury Indemnity Company of America Mercury Insurance Company of Illinois Orion Indemnity Company Mercury Insurance Company of Georgia Mercury Indemnity Company of Georgia Non-Insurance Companies Mercury Select Management Company, Inc. AIS Management LLC Mercury Insurance Services LLC Auto Insurance Specialists LLC Animas Funding LLC (3) PoliSeek AIS Insurance Solutions, Inc. Fannette Funding LLC (3) Mercury Plus Insurance Services LLC Upper Animas Holdings LLC (3) Mercury Information Technology Services LLC (4) Mercury (Shanghai) Information Technology Services Co., Ltd. ("Mercury Shanghai") (5) __________ (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. (4) Parent company of Mercury Shanghai. (5) Mercury Shanghai provides software development and related technical services to the Company's subsidiaries. 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 2024, 2023 and 2022. 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 and Other Financial Instruments Financial instruments recorded in the consolidated balance sheets include investments, notes receivable, other receivables, accounts payable, options sold, and notes payable. The Company’s investments include securities issued by the U.S. government and its agencies, securities issued by states and municipal governments and agencies, certain corporate and other debt securities, equity securities, and exchange traded funds. 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. 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 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. The Company’s fixed maturity and equity securities are classified as “trading” and carried at fair value as required when applying the fair value option. The majority of equity holdings, including non-redeemable preferred stocks, are actively traded on national exchanges or trading markets, and are valued at the last transaction price on the balance sheet date. The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Due to their short-term maturity, the carrying values of other receivables and accounts payable approximate their fair values. 98.4% of the fair value of its investments at December 31, 2024 is based on observable market prices, observable pricing parameters, or is derived from such prices or parameters. The availability of observable market prices and pricing parameters can vary by financial instrument. Observable market prices and pricing parameters of a financial instrument, or a related financial instrument, are used to derive a price without requiring significant judgment. The Company may hold or acquire financial instruments that lack observable market prices or pricing parameters because they are less actively traded currently or in future periods. The fair value of such instruments is determined using techniques appropriate for each particular financial instrument. These techniques may involve some degree of judgment. The price transparency of the particular financial instrument will determine the degree of judgment involved in determining the fair value of the Company’s financial instruments. Price transparency is affected by a wide variety of factors, including the type of financial instrument, whether it is a new financial instrument and not yet established in the marketplace, and the characteristics particular to the transaction. Financial instruments for which actively quoted prices or pricing parameters are available or for which fair value is derived from actively quoted prices or pricing parameters will generally have a higher degree of price transparency. By contrast, financial instruments that are thinly traded or not quoted will generally have diminished price transparency. Even in normally active markets, the price transparency for actively quoted financial instruments may be reduced during periods of market dislocation. Alternatively, in thinly quoted markets, the participation of market makers willing to purchase and sell a financial instrument provides a source of transparency for products that otherwise are not actively quoted. For a further discussion, see Note 4. Fair Value Measurements. 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 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, 2024 and 2023. The Company's financial or other support provided to these VIEs and its loss exposure are limited to its collateral and original investment. The Company invests, directly or indirectly through its consolidated VIEs, in limited partnerships or limited liability companies such as private equity funds. These investments are non-consolidated VIEs as the Company has determined it is not the primary beneficiary of such VIEs. The Company's maximum exposure to loss with respect to these VIEs is limited to the total carrying value that is included in equity securities in the Company's consolidated balance sheets. At December 31, 2024 and 2023, the Company had approximately $5 million and $8 million, respectively, in unfunded commitments to these 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 ("DOI") with fair values totaling approximately $15 million at December 31, 2024 and 2023. 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, 2024 2023 2022 (Amounts in millions) Deferred policy acquisition cost amortization $ 858.3 $ 708.5 $ 654.6 Net advertising expense 20.8 8.9 11.8 Fixed Assets Fixed assets are stated at historical cost less accumulated depreciation and amortization. A fixed asset classified as held for sale is measured at the lower of its carrying amount or fair value less cost to sell, and is presented separately from other fixed assets. The useful life for buildings is 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 2024, 2023, and 2022. 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, 2024 and 2023, 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, was $5.38 billion, $4.46 billion, and $3.98 billion in 2024, 2023, and 2022, respectively. Losses and Loss Adjustment Expenses Unpaid losses and loss adjustment expenses are determined in amounts estimated to cover incurred losses and loss adjustment expenses and established based upon the Company’s assessment of claims pending and the development of prior years’ loss liabilities. These amounts include liabilities based upon individual case estimates for reported losses and loss adjustment expenses and estimates of such amounts that are incurred but not reported. Changes in the estimated liability are charged or credited to operations as the losses and loss adjustment expenses are re-estimated. The liability is stated net of anticipated salvage and subrogation recoveries, and gross of reinsurance recoverables on unpaid losses. Estimating loss reserves is a difficult process as many factors can ultimately affect the final settlement of a claim and, therefore, the loss reserve that is required. A key assumption in estimating loss reserves is the degree to which the historical data used to analyze reserves will be predictive of ultimate claim costs on incurred claims. Changes in the regulatory and legal environments, results of litigation, medical costs, the cost of repair materials, and labor rates, among other factors, can impact this assumption. In addition, time can be a critical part of reserving determinations since the longer the span between the incidence of a loss and the payment or settlement of a claim, the more variable the ultimate settlement amount could be. Accordingly, short-tail claims, such as property damage claims, tend to be more reasonably predictable than long-tail liability claims, such as those involving the Company’s bodily injury ("BI") coverages. Management believes that the liability for losses and loss adjustment expenses is adequate to cover the ultimate net cost of losses and loss adjustment expenses incurred to date. However, since the provisions for loss reserves are necessarily based upon estimates, the ultimate liability may be more or less than such provisions. The Company analyzes loss reserves quarterly primarily using the incurred loss, paid loss, average severity coupled with the claim count development methods, and the generalized linear model ("GLM") described below. When deciding among methods to use, the Company evaluates the credibility of each method based on the maturity of the data available and the claims settlement practices for each particular line of insurance business or coverage within a line of insurance business. The Company may also evaluate qualitative factors such as known changes in laws or legal ruling that could affect claims handling or other external environmental factors or internal factors that could affect the settlement of claims. When establishing the loss reserve, the Company will generally analyze the results from all of the methods used rather than relying on a single method. While these methods are designed to determine the ultimate losses on claims under the Company’s policies, there is inherent uncertainty in all actuarial models since they use historical data to project outcomes. The Company believes that the techniques it uses provide a reasonable basis in estimating loss reserves. • The incurred loss method analyzes historical incurred case loss (case reserves plus paid losses) development to estimate ultimate losses. The Company applies development factors against current case incurred losses by accident period to calculate ultimate expected losses. The Company believes that the incurred loss method provides a reasonable basis for evaluating ultimate losses, particularly in the Company’s larger, more established lines of insurance business which have a long operating history. • The paid loss method analyzes historical payment patterns to estimate the amount of losses yet to be paid. • The average severity method analyzes historical loss payments and/or incurred losses divided by closed claims and/or total claims to calculate an estimated average cost per claim. From this, the expected ultimate average cost per claim can be estimated. The average severity method coupled with the claim count development method provides meaningful information regarding inflation and frequency trends that the Company believes is useful in establishing loss reserves. The claim count development method analyzes historical claim count development to estimate future incurred claim count development for current claims. The Company applies these development factors against current claim counts by accident period to calculate ultimate expected claim counts. The Company analyzes catastrophe losses separately from non-catastrophe losses. The Company classifies certain losses as catastrophe losses based on catastrophe events designated by Property Claim Services, a unit of Insurance Services Office, Inc. 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. 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 (Loss) Per Share Basic earnings (loss) per share excludes dilution and reflects net income (loss) divided by the weighted average shares of common stock outstanding during the periods presented. Diluted earnings (loss) per share is based on the weighted average shares of common stock and potential dilutive securities outstanding during the periods presented. See Note 17. Earnings (Loss) Per Share , for the required disclosures relating to the calculation of basic and diluted earnings (loss) 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. The Company’s deferred income taxes usually include a combination of ordinary and capital deferred tax benefits and expenses. At December 31, 2024, the Company’s deferred income taxes were in a net asset position mainly due to deferred tax assets generated by unearned premiums and loss reserve discounting. These deferred tax assets were substantially offset by deferred tax liabilities resulting from deferred policy acquisition costs. 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, and to the extent management does not believe these assets are more likely than not to be realized, a valuation allowance is established. 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. Management’s recoverability assessment of the Company’s deferred tax assets which are ordinary in character takes into consideration the Company’s strong history of generating ordinary taxable income and a reasonable expectation that it will continue to generate ordinary taxable income in the future. The Company also has various deferred tax liabilities that represent sources of future ordinary taxable income. Management’s recoverability assessment with regard to its capital deferred tax assets is based on estimates of anticipated capital gains, tax-planning strategies available to generate future taxable capital gains, and the Company's capacity to absorb capital losses carried back to prior years, each of which would contribute to the realization of deferred tax benefits. The Company has significant unrealized gains in its investment portfolio that could be realized through asset dispositions, at management’s discretion. In addition, the Company expects to hold certain debt securities, which are currently in loss positions, to recovery or maturity. Management believes unrealized losses related to these debt securities, which represent a portion of the unrealized loss positions at December 31, 2024, are fully realizable at maturity. Management believes its long-term time horizon for holding these securities allows it to avoid any forced sales prior to maturity. Further, the Company has the capability to generate additional realized capital gains by entering into sale-leaseback transactions using one or more of its appreciated real estate holdings. The realized gains on the real estate holdings could be used to realize both ordinary and capital deferred tax assets. The Company also has the capacity to recoup capital deferred tax assets through tax capital loss carryback claims for taxes paid within permitted carryback periods. The Company has the capability to implement tax planning strategies and it has a steady history of generating positive cash flows from operations and believes that its liquidity needs can be met in future periods without the forced sale of its investments. This capability assists management in controlling the timing and amount of realized losses generated during future periods. By prudent utilization of some or all of these strategies, management has the intent and believes that it has the ability to generate capital gains and minimize tax losses in a manner sufficient to avoid losing the benefits of its deferred tax assets. Management will continue to assess the need for a valuation allowance on a quarterly basis. Although realization is not assured, management believes it is more likely than not that the Company’s deferred tax assets will be realized. Contingent Liabilities The Company has known, and may have unknown, potential liabilities which include claims, assessments, lawsuits, or regulatory fines and penalties relating to the Company’s business. The Company continually evaluates these potential liabilities and accrues for them and/or discloses them in the notes to the consolidated financial statements where required. In addition, the Company accrues for anticipated legal defense costs associated with lawsuits, claims or regulatory actions. 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. See Note 18. Commitments and Contingencies, for the required disclosures relating to contingent liabilities. 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 Portfolio Participation Reinsurance Contract ("Contract") effective through December 31, 2025. The Company reimburses up to $30 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 73.5%. The Company is party to a Catastrophe Reinsurance Treaty ("Treaty") covering a wide range of perils that is effective through June 30, 2025. The Treaty provides $1,290 million of coverage on a per occurrence basis after covered catastrophe losses exceed the $150 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 certain upper layers of coverage, and includes some additional minor territorial and coverage restrictions. The effect of reinsurance on property and casualty premiums written and earned was as follows: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Premiums Written Direct $ 5,474,292 $ 4,531,942 $ 4,018,057 Ceded (138,015) (109,644) (81,256) Assumed 15,489 15,353 10,743 Net $ 5,351,766 $ 4,437,651 $ 3,947,544 Premiums Earned Direct $ 5,167,342 $ 4,339,333 $ 3,993,771 Ceded (136,698) (109,445) (80,950) Assumed 15,455 15,481 10,821 Net $ 5,046,099 $ 4,245,369 $ 3,923,642 The Company recognized ceded premiums earned of approximately $137 million, $109 million, and $81 million in 2024, 2023, and 2022, respectively, which are included in net premiums earned in its consolidated statements of operations, and ceded losses and loss adjustment expenses of approximately $(3) million, $10 million, and $(13) million in 2024, 2023, and 2022, 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 2024 and 2022 were primarily the result of favorable development on certain of prior years' catastrophe losses that had previously been ceded to the Company's reinsurers. 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 fair value of stock option awards is estimated usi

Financial Instruments

Financial Instruments	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Financial Instruments	Financial Instruments Financial instruments recorded in the consolidated balance sheets include investments, other receivables, options sold, accounts payable, and notes payable. Due to their short-term maturity, the carrying values of other receivables and accounts payable approximate their fair values. All investments are carried at fair value in the consolidated balance sheets. The following table presents the fair values of financial instruments: December 31, 2024 2023 (Amounts in thousands) Assets Investments $ 6,076,370 $ 5,228,520 Notes receivable 31,231 9,974 Liabilities Options sold 213 1,955 Notes payable 566,812 557,710 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 in the Company's consolidated statements of operations. See Note 3. Investments for additional information. Notes Receivable In September 2024, the Company completed the sale of an office building located in Brea, California for a total sale price of $31.5 million. $21.4 million of the total sale price was received in the form of a promissory note. The note receivable is secured by the property sold, and bears interest at an annual rate of 7.0%. The term of the note receivable is four years and interest is paid in quarterly installments. In March 2023, the Company completed the sale of an office building located in Clearwater, Florida, for a total sale price of approximately $19.6 million. $9.8 million of the total sale price was received in the form of a promissory note. The note receivable is secured by the property sold, and bears interest at an annual rate of 7.0% for the first two years, with an adjustment to the greater of 7.0% or the rate on a one-year U.S. Treasury Bill at the two-year anniversary for the remainder of the term. The term of the note receivable is four years and interest is paid in monthly installments. Interest earned on the notes receivable is recognized in other revenues in the Company's consolidated statements of operations. The Company elected to apply the fair value option to the notes receivable at the time they were first recognized. The fair values of the notes receivable are included in other assets in the Company's consolidated balance sheets, while the changes in fair value of the notes receivable are included in net realized investment gains or losses in 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. Notes Payable The fair values of the Company’s publicly traded $375 million unsecured notes at December 31, 2024 and 2023 and its $200 million drawn under the unsecured credit facility at December 31, 2024 and 2023 were obtained from third party pricing services. 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, 2024
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, 2024 2023 2022 (Amounts in thousands) Fixed maturity securities $ 6,566 $ 62,833 $ (260,223) Equity securities 8,352 45,046 (185,694) Short-term investments 909 107 88 Total gains (losses) $ 15,827 $ 107,986 $ (445,829) The following table presents gross gains (losses) realized on the sales of investments: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Gross Gross Net Gross Gross Net Gross Gross Net Fixed maturity securities $ 1,067 $ (3,812) $ (2,745) $ 1,783 $ (3,246) $ (1,463) $ 863 $ (71,425) $ (70,562) Equity securities 96,927 (33,857) 63,070 76,844 (91,109) (14,265) 86,168 (61,252) 24,916 Short-term investments 13 (727) (714) — (4) (4) 8 (2,500) (2,492) Contractual Maturity At December 31, 2024, fixed maturity holdings rated below investment grade and non-rated comprised 1.1% 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, 2024 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 $ 245,282 Due after one year through five years 1,121,053 Due after five years through ten years 994,491 Due after ten years 2,552,552 Total $ 4,913,378 Investment Income The following table presents a summary of net investment income: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Fixed maturity securities $ 207,798 $ 173,167 $ 127,336 Equity securities 43,107 44,223 43,495 Cash and Short-term investments 37,712 23,741 3,495 Total investment income $ 288,617 $ 241,131 $ 174,326 Less: investment expense (8,628) (6,501) (5,970) Net investment income $ 279,989 $ 234,630 $ 168,356

Fair Value Measurement

Fair Value Measurement	12 Months Ended
	Dec. 31, 2024
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fair Value Measurement	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 98.4% of its investment portfolio from an independent pricing service at December 31, 2024. 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 $16.0 million and $33.0 million in commercial mortgage-backed securities at December 31, 2024 and 2023, 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. Notes 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. At December 31, 2024 and 2023, the Company did not have any financial assets or financial liabilities based on Level 3 measurements. Fair value measurement using NAV practical expedient - The fair values of the Company's investment in private equity funds measured at net asset value are determined using net asset value ("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. At December 31, 2024, the Company had capital invested in four such funds: the strategy of three such funds with a combined fair value of approximately $90.7 million at December 31, 2024 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; and the strategy of the other such fund with a fair value of approximately $4.5 million at December 31, 2024 is to achieve long-term capital appreciation through privately-negotiated venture capital investments in seed- and early-stage portfolio companies with technology-enabled business models. The Company had approximately $5 million in unfunded commitments at December 31, 2024 with respect to the private equity funds measured at NAV. The underlying assets of the funds are expected to be liquidated over the period of approximately one year to eight years from December 31, 2024. 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, 2024 Level 1 Level 2 Level 3 Total (Amounts in thousands) Assets Fixed maturity securities: U.S. government bonds and agencies $ 75,874 $ 17,963 $ — $ 93,837 Municipal securities — 2,987,054 — 2,987,054 Mortgage-backed securities — 259,421 — 259,421 Corporate securities — 841,715 — 841,715 Collateralized loan obligations — 626,255 — 626,255 Other asset-backed securities — 105,096 — 105,096 Total fixed maturity securities 75,874 4,837,504 — 4,913,378 Equity securities: Common stock 741,369 — — 741,369 Non-redeemable preferred stock — 42,603 — 42,603 Private equity funds measured at net asset value (1) 95,203 Total equity securities 741,369 42,603 — 879,175 Short-term investments: Short-term bonds — 1,655 — 1,655 Money market instruments 282,141 — — 282,141 Other 21 — — 21 Total short-term investments 282,162 1,655 — 283,817 Other assets: Notes receivable — 31,231 — 31,231 Total assets at fair value $ 1,099,405 $ 4,912,993 $ — $ 6,107,601 Liabilities Other liabilities: Options sold 213 — — 213 Total liabilities at fair value $ 213 $ — $ — $ 213 December 31, 2023 Level 1 Level 2 Level 3 Total (Amounts in thousands) Assets Fixed maturity securities: U.S. government bonds and agencies $ 123,182 $ 51,268 $ — $ 174,450 Municipal securities — 2,777,258 — 2,777,258 Mortgage-backed securities — 186,887 — 186,887 Corporate securities — 599,630 — 599,630 Collateralized debt obligations — 484,947 — 484,947 Other asset-backed securities — 96,164 — 96,164 Total fixed maturity securities 123,182 4,196,154 — 4,319,336 Equity securities: Common stock 597,888 — — 597,888 Non-redeemable preferred stock — 51,563 — 51,563 Private equity funds measured at net asset value (1) 81,242 Total equity securities 597,888 51,563 — 730,693 Short-term investments: Short-term bonds 12,015 1,838 — 13,853 Money market instruments 164,595 — — 164,595 Other 43 — — 43 Total short-term investments 176,653 1,838 — 178,491 Other assets: Note receivable $ — $ 9,974 $ — $ 9,974 Total assets at fair value $ 897,723 $ 4,259,529 $ — $ 5,238,494 Liabilities Other liabilities: Options sold 1,955 — — 1,955 Total liabilities at fair value $ 1,955 $ — $ — $ 1,955 __________ (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. There were no transfers between Levels 1, 2, and 3 of the fair value hierarchy in 2024 and 2023. At December 31, 2024 and 2023, there were no material assets or liabilities measured at fair value on a nonrecurring basis. 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, 2024 Carrying Value Fair Value Level 1 Level 2 Level 3 (Amounts in thousands) Liabilities Notes payable: Unsecured notes $ 374,128 $ 367,504 $ — $ 367,504 $ — Unsecured credit facility 200,000 199,308 — 199,308 — Total $ 574,128 $ 566,812 $ — $ 566,812 $ — December 31, 2023 Carrying Value Fair Value Level 1 Level 2 Level 3 (Amounts in thousands) Liabilities Notes payable: Unsecured notes $ 373,729 $ 357,765 $ — $ 357,765 $ — Unsecured credit facility 200,000 199,945 — 199,945 — Total $ 573,729 $ 557,710 $ — $ 557,710 $ — Unsecured Notes The fair value of the Company’s publicly traded $375 million unsecured notes at December 31, 2024 and 2023 was based on the spreads above the risk-free yield curve. These spreads are generally obtained from the new issue market, secondary trading and broker-dealer quotes. See Note 8. Notes Payable for additional information on unsecured notes. Unsecured Credit Facility

Fixed Assets

Fixed Assets	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Fixed Assets	Fixed Assets The following table presents the components of fixed assets: December 31, 2024 2023 (Amounts in thousands) Land $ 6,665 $ 9,713 Buildings and improvements 35,602 65,408 Furniture and equipment 29,291 31,073 Capitalized software 386,116 344,654 Leasehold improvements 1,957 2,892 459,631 453,740 Less: accumulated depreciation and amortization (321,454) (302,557) Fixed assets, net $ 138,177 $ 151,183 Depreciation expense, including amortization of leasehold improvements, was $37.4 million, $33.8 million, and $34.3 million for 2024, 2023, and 2022, respectively. An office building located in Oklahoma City, Oklahoma was classified as a property held for sale at April 30, 2024, and a loss of $1.0 million was recognized as a result of the held-for-sale classification. The Company completed the sale of this property in September 2024 for a total sale price of $3.6 million, and recognized an additional loss of $0.1 million at closing of the sale. Losses recognized at the held-for-sale classification and closing of the sale are included in other revenues in the Company's consolidated statements of operations for the year ended December 31, 2024. The Company completed the sale of another office building located in Brea, California in September 2024 for a total sale price of $31.5 million, and recognized a gain of $20.3 million associated with the sale, which is included in other revenues in the Company's consolidated statements of operations for the year ended December 31, 2024. $21.4 million of the total sale price was received in the form of a promissory note. $9.3 million of the total sale price, after settlement of selling expenses and outstanding amounts due on the property, was received in cash. Only the cash received on the sale of the property is included in the Company's consolidated statements of cash flows for the year ended December 31, 2024. The note receivable is secured by the property sold and bears interest at an annual rate of 7.0%. The term of the note receivable is 4 years and interest is paid in quarterly installments. An office building located in Folsom, California was classified as a property held for sale at June 30, 2024, and $10.0 million of the property held for sale is included in other assets in the Company's consolidated balance sheets at December 31, 2024. A loss of $5.4 million recognized as a result of the held-for-sale classification is included in other revenues in the Company's consolidated statements of operations for the year ended December 31, 2024.

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs	12 Months Ended
	Dec. 31, 2024
Deferred Policy Acquisition Costs Disclosures [Abstract]
Deferred Policy Acquisition Costs	Deferred Policy Acquisition Costs Deferred policy acquisition costs were as follows: December 31, 2024 2023 2022 (Amounts in thousands) Balance, beginning of year $ 293,844 $ 266,475 $ 258,259 Policy acquisition costs deferred 899,749 735,894 662,828 Amortization (858,261) (708,525) (654,612) Balance, end of year $ 335,332 $ 293,844 $ 266,475

Leases

Leases	12 Months Ended
	Dec. 31, 2024
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, 2024, the Company's leases had remaining terms ranging from less than one year to approximately six years. These leases may contain provisions for periodic adjustments to rates and charges applicable under such lease agreements. These rates and charges also may vary with the Company's level of use. Certain of these leases include one or more options to renew or early terminate, and the exercise of these options is at the Company's sole discretion. Certain leases also include options to purchase the leased property. The Company's lease agreements do not contain any residual value guarantees. The Company determines if an arrangement is a lease at inception. 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 2024 2023 2022 (Amounts in thousands) Operating lease cost (1) Other operating expenses $ 9,834 $ 11,687 $ 14,747 Finance lease cost: Amortization of assets Other operating expenses 1,585 1,241 1,288 Interest on lease liabilities Interest expense 126 40 54 Variable lease cost (1) Other operating expenses 403 1,100 2,184 Sublease income (2) Other revenue (469) (799) (492) Net lease cost $ 11,479 $ 13,269 $ 17,781 __________ (1) Includes short-term leases, which are immaterial. (2) The Company subleased certain leased office space to third parties in 2024, 2023 and 2022. 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 2024 2023 (Amounts in thousands) Operating lease assets Operating lease right-of-use assets $ 13,407 $ 14,406 Operating lease liabilities Operating lease liabilities 13,580 14,231 Finance lease assets Other assets 2,966 2,996 Finance lease liabilities Other liabilities 2,521 2,841 Weighted-average lease term and discount rate were as follows: December 31, 2024 2023 Weighted-average remaining lease term (in years): Operating leases 2.9 2.6 Finance leases 2.4 2.5 Weighted-average discount rate: Operating leases 5.68 % 4.37 % Finance leases 2.54 % 1.37 % Supplemental cash flow and other information related to leases was as follows: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9,485 $ 14,023 $ 15,815 Operating cash flows from finance leases 68 41 54 Financing cash flows from finance leases 1,533 1,102 1,504 ROU assets obtained in exchange for lease liabilities: Operating leases 6,924 6,587 4,677 Finance leases — — 1,951 Maturities of lease liabilities as of December 31, 2024 were as follows: Year Operating Leases Finance Leases (Amounts in thousands) 2025 $ 6,229 $ 1,413 2026 4,368 785 2027 2,485 381 2028 1,184 — 2029 514 — 2030 and thereafter $ 207 $ — Total lease payments $ 14,987 $ 2,579 Less: Imputed interest 1,407 58 Total lease obligations $ 13,580 $ 2,521 As of December 31, 2024, the Company had additional lease commitments that have not yet commenced of approximately $4 million with each lease term of approximately one
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, 2024, the Company's leases had remaining terms ranging from less than one year to approximately six years. These leases may contain provisions for periodic adjustments to rates and charges applicable under such lease agreements. These rates and charges also may vary with the Company's level of use. Certain of these leases include one or more options to renew or early terminate, and the exercise of these options is at the Company's sole discretion. Certain leases also include options to purchase the leased property. The Company's lease agreements do not contain any residual value guarantees. The Company determines if an arrangement is a lease at inception. 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 2024 2023 2022 (Amounts in thousands) Operating lease cost (1) Other operating expenses $ 9,834 $ 11,687 $ 14,747 Finance lease cost: Amortization of assets Other operating expenses 1,585 1,241 1,288 Interest on lease liabilities Interest expense 126 40 54 Variable lease cost (1) Other operating expenses 403 1,100 2,184 Sublease income (2) Other revenue (469) (799) (492) Net lease cost $ 11,479 $ 13,269 $ 17,781 __________ (1) Includes short-term leases, which are immaterial. (2) The Company subleased certain leased office space to third parties in 2024, 2023 and 2022. 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 2024 2023 (Amounts in thousands) Operating lease assets Operating lease right-of-use assets $ 13,407 $ 14,406 Operating lease liabilities Operating lease liabilities 13,580 14,231 Finance lease assets Other assets 2,966 2,996 Finance lease liabilities Other liabilities 2,521 2,841 Weighted-average lease term and discount rate were as follows: December 31, 2024 2023 Weighted-average remaining lease term (in years): Operating leases 2.9 2.6 Finance leases 2.4 2.5 Weighted-average discount rate: Operating leases 5.68 % 4.37 % Finance leases 2.54 % 1.37 % Supplemental cash flow and other information related to leases was as follows: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9,485 $ 14,023 $ 15,815 Operating cash flows from finance leases 68 41 54 Financing cash flows from finance leases 1,533 1,102 1,504 ROU assets obtained in exchange for lease liabilities: Operating leases 6,924 6,587 4,677 Finance leases — — 1,951 Maturities of lease liabilities as of December 31, 2024 were as follows: Year Operating Leases Finance Leases (Amounts in thousands) 2025 $ 6,229 $ 1,413 2026 4,368 785 2027 2,485 381 2028 1,184 — 2029 514 — 2030 and thereafter $ 207 $ — Total lease payments $ 14,987 $ 2,579 Less: Imputed interest 1,407 58 Total lease obligations $ 13,580 $ 2,521 As of December 31, 2024, the Company had additional lease commitments that have not yet commenced of approximately $4 million with each lease term of approximately one

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2024
Notes Payable [Abstract]
Notes Payable	Notes Payable The following table presents information about the Company's notes payable: December 31, Lender Interest Rate Expiration 2024 2023 (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, Wells Fargo Bank, BMO Bank, and U.S. Bank Term SOFR plus 112.5-150.0 basis points November 18, 2027 200,000 200,000 Total principal amount 575,000 575,000 Less unamortized discount and debt issuance costs (3) 872 1,271 Total $ 574,128 $ 573,729 __________ (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 amounts outstanding under the existing loan and credit facilities and 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 31, 2021, the Company entered into an unsecured $75 million five-year revolving credit facility. On November 18, 2022, the Company entered into the First Amendment to this credit facility. The First Amendment extended the maturity date of the loan to November 16, 2026 from March 31, 2026 with possible further extension if certain conditions are met, increased the aggregate commitments by all the lenders to $200 million from $75 million, and replaced the LIBOR with the term SOFR. On November 30, 2023, the Company entered into the Second Amendment to this credit facility, which further increased the aggregate commitments by all the lenders to $250 million from $200 million. On November 22, 2024, the Company entered into the Third Amendment to this credit facility, which extended and fixed the maturity date of the loan to November 18, 2027. The interest rates on borrowings under the credit facility are based on the Company's debt to total capital ratio and range from Term SOFR plus 112.5 basis points when the ratio is under 20% to Term SOFR plus 150.0 basis points when the ratio is greater than or equal to 30%. Commitment fees for the undrawn portions of the credit facility range from 12.5 basis points when the ratio is under 20% to 22.5 basis points when the ratio is greater than or equal to 30%. 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 22.8% at December 31, 2024, resulting in a 15.0 basis point commitment fee on any undrawn portion of the credit facility. As of February 11, 2025, a total of $200 million was drawn under this facility on a three-month revolving basis at an annual interest rate of approximately 5.79%, with $50 million available to be drawn. The Company contributed $150 million of the total amount drawn to the surplus of its consolidated insurance subsidiaries, and used the remainder for general corporate purposes. (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 costs of approximately $0.6 million associated with entering into the $250 million unsecured revolving credit facility maturing on November 18, 2027 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, 2024. Debt maturities for each of the next five years and thereafter as of December 31, 2024 are as follows: Maturity Amounts (in thousands) 2025 $ — 2026 — 2027 575,000 2028 — 2029 — Thereafter — Total $ 575,000

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2024
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. From time to time, the Company also enters into derivative contracts to enhance returns on its investment portfolio. The following tables present the location and amounts of derivative fair values in the consolidated balance sheets and derivative gains in the consolidated statements of operations: Liability Derivatives December 31, 2024 December 31, 2023 (Amounts in thousands) Options sold - Other liabilities $ 213 $ 1,955 Total derivatives $ 213 $ 1,955 Gains Recognized in Income Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Options sold - Net realized investment gains (losses) $ 13,395 $ 8,586 $ 5,887 Total $ 13,395 $ 8,586 $ 5,887 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, 2024
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 2024 and 2023. No accumulated goodwill impairment losses existed at December 31, 2024 and 2023. Goodwill is reviewed annually for impairment and more frequently if potential impairment indicators exist. No impairment indicators were identified during 2024 and 2023. All of the Company's goodwill is associated with the Property and Casualty business segment (See Note 19. 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, 2024 Customer relationships $ 55,107 $ (53,958) $ 1,149 10 Trade names 15,400 (10,267) 5,133 24 Technology 4,300 (4,300) — 10 Insurance license 1,400 — 1,400 Indefinite Total intangible assets, net $ 76,207 $ (68,525) $ 7,682 As of December 31, 2023 Customer relationships $ 54,862 $ (53,704) $ 1,158 11 Trade names 15,400 (9,625) 5,775 24 Technology 4,300 (4,300) — 10 Insurance license 1,400 — 1,400 Indefinite Total intangible assets, net $ 75,962 $ (67,629) $ 8,333 Other intangible assets are reviewed annually for impairment and more frequently if potential impairment indicators exist. No impairment indicators were identified during 2024 and 2023. Other intangible assets with definite useful lives are amortized on a straight-line basis over their useful lives. Other intangible assets amortization expense was $0.9 million, $0.9 million, and $1.0 million for the years ended December 31, 2024, 2023 and 2022, 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, 2024: Year Ending December 31, Amortization Expense (Amounts in thousands) 2025 $ 856 2026 856 2027 856 2028 856 2029 811 Thereafter 2,047 Total $ 6,282

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]
Income Taxes	Income Taxes Income tax provision The Company's income (loss) before provision for income taxes consisted of the following: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Domestic $ 574,756 $ 99,428 $ (670,715) Foreign 124 — — Income (loss) before provision for income taxes $ 574,880 $ 99,428 $ (670,715) 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, 2024 2023 2022 (Amounts in thousands) Federal Current $ 119,900 $ (3,840) $ (62,355) Deferred (14,617) 10,523 (93,562) $ 105,283 $ 6,683 $ (155,917) State Current $ (138) $ (2,958) $ 784 Deferred 1,776 (633) (2,910) $ 1,638 $ (3,591) $ (2,126) Foreign Current $ 6 $ — $ — Deferred — — — $ 6 $ — $ — Total Current $ 119,768 $ (6,798) $ (61,571) Deferred (12,841) 9,890 (96,472) Total $ 106,927 $ 3,092 $ (158,043) 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 following table presents a reconciliation of the tax expense based on the statutory rate of 21% for 2024, 2023 and 2022 to the Company's actual tax expense in the consolidated statements of operations: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Computed tax expense (benefit) at 21% $ 120,725 $ 20,880 $ (140,850) Tax-exempt interest income (13,114) (13,640) (11,864) Dividends received deduction (1,276) (1,237) (1,364) State tax expense (benefit) 1,098 (3,539) (1,597) Nondeductible expenses 815 639 279 Other, net (1,321) (11) (2,647) Income tax expense (benefit) $ 106,927 $ 3,092 $ (158,043) 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, 2024 2023 (Amounts in thousands) Deferred tax assets: 20% of net unearned premiums $ 88,940 $ 75,394 Discounting of loss reserves and salvage and subrogation recoverable for tax purposes 30,734 25,340 Expense accruals 19,821 11,262 Tax asset on net unrealized loss on securities carried at fair value — 166 Other deferred tax assets 4,371 8,743 Total gross deferred tax assets 143,866 120,905 Deferred tax liabilities: Deferred policy acquisition costs (70,420) (61,707) Tax liability on net unrealized gain on securities carried at fair value (3,253) — Tax depreciation in excess of book depreciation (2,549) (6,801) Undistributed earnings of insurance subsidiaries (2,731) (1,511) Tax amortization in excess of book amortization (8,769) (8,904) Other deferred tax liabilities (10,290) (8,969) Total gross deferred tax liabilities (98,012) (87,892) Net deferred tax assets $ 45,854 $ 33,013 The Company had federal net operating loss carryforwards of approximately $1.6 million and $19.7 million at December 31, 2024 and 2023, respectively. $1.6 million of the total federal net operating loss carryforward will begin to expire in 2029. 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. The total amount of unrecognized tax benefits related to tax uncertainties decreased by approximately $2.3 million during the 12 months ended December 31, 2024, primarily resulting from the payment of the assessed amount related to a California Franchise Tax Board audit for tax year 2011, which has now been resolved with no outstanding issues. 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 2021 through 2023 for federal taxes and 2020 through 2023 for state taxes. The following table presents a reconciliation of the beginning and ending balances of unrecognized tax benefits: December 31, 2024 2023 (Amounts in thousands) Balance at January 1 $ 2,262 $ 4,380 Additions (reductions) based on tax positions related to: Current year — — Prior years (2,262) (2,118) Balance at December 31 $ — $ 2,262 The Company recognizes interest and penalties related to unrecognized tax benefits as a part of income taxes. The Company recognized an accrued net (benefit) expense related to interest and penalties of approximately $(2.1) million, $(1.2) million, and $0.4 million for the years ended December 31, 2024, 2023 and 2022, respectively. The Company carried an accrued interest and penalty balance of approximately $0.4 million and $2.5 million at December 31, 2024 and 2023, respectively.

Loss And Loss Adjustment Expens

Loss And Loss Adjustment Expense Reserves	12 Months Ended
	Dec. 31, 2024
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, 2024 2023 2022 (Amounts in thousands) Gross reserves at January 1 $ 2,785,702 $ 2,584,910 $ 2,226,430 Reinsurance recoverables on unpaid losses (32,148) (25,323) (41,379) Net reserves at January 1 2,753,554 2,559,587 2,185,051 Incurred losses and loss adjustment expenses related to: Current year 3,659,724 3,553,801 3,314,938 Prior years 24,787 (35,948) 47,281 Total incurred losses and loss adjustment expenses 3,684,511 3,517,853 3,362,219 Loss and loss adjustment expense payments related to: Current year 1,963,076 2,080,690 1,862,006 Prior years 1,351,603 1,243,196 1,125,677 Total payments 3,314,679 3,323,886 2,987,683 Net reserves at December 31 3,123,386 2,753,554 2,559,587 Reinsurance recoverables on unpaid losses 28,645 32,148 25,323 Gross reserves at December 31 $ 3,152,031 $ 2,785,702 $ 2,584,910 During 2022, inflationary trends accelerated to their highest level in decades, which had a significant impact on the cost of automobile parts and labor as well as medical expenses for bodily injuries, and supply chain and labor shortage issues lengthened the time to repair vehicles. Bodily injury costs were also under pressure from social inflation. The severe inflationary trend continued into 2023, but moderated as the year progressed. During 2024, the inflation remained moderated for automobile parts and labor but it was at an elevated level for bodily injury costs. The increase in the provision for insured events of prior years in 2024 of approximately $24.8 million primarily resulted from adverse development of approximately $13 million in private passenger and commercial automobile insurance (see the corresponding development table below), favorable development of approximately $5 million in homeowners insurance (see the corresponding development table below), and adverse development of approximately $15 million in commercial property insurance (see the corresponding development table below). The remaining net adverse development of approximately $2 million relates to other smaller lines of insurance business as well as unallocated loss adjustment expenses. The decrease in the provision for insured events of prior years in 2023 of approximately $35.9 million primarily resulted from lower than estimated losses and loss adjustment expenses in the private passenger automobile and homeowners lines of insurance business, partially offset by unfavorable reserve development in the commercial property line of insurance business. The moderating inflationary trend in 2023 relative to 2022 discussed above was the major contributor to the favorable reserve development in the private passenger automobile line of insurance business for 2023. The increase in the provision for insured events of prior years in 2022 of approximately $47.3 million primarily resulted from higher than estimated losses and loss adjustment expenses in the automobile line of insurance business. The inflationary pressures and the supply chain and labor shortage issues discussed above were major contributors to the adverse reserve development in the automobile line of insurance business for 2022. The Company recorded catastrophe losses net of reinsurance of approximately $277 million, $239 million, and $102 million in 2024, 2023, and 2022, respectively. Catastrophe losses due to the events that occurred in 2024 totaled approximately $268 million, w ith no reinsurance benefits used for these losses, resulting primarily from tornadoes, hailstorms and convective storms in Texas and Oklahoma, winter storms, rainstorms and wildfires in California, and the impact of Hurricane Helene in Florida and Georgia. In addition, the Company experienced unfavorable development of approximately $9 million on prior years' catastrophe losses in 2024. Catastrophe losses due to the events that occurred in 2023 totaled approximately $247 million, with no reinsurance benefits used for these losses, resulting primarily from rainstorms and hail in Texas and Oklahoma, winter storms and rainstorms in California, and the impact of Tropical Storm Hilary in California. In addition, the Company experienced favorable development of approximately $8 million on prior years' catastrophe losses in 2023. Catastrophe losses due to the events that occurred in 2022 totaled approximately $101 million, with no reinsurance benefits used for these losses, resulting primarily from the deep freeze of Winter Storm Elliott and other extreme weather events in Texas, Oklahoma and Georgia, winter storms in California, and the impact of Hurricane Ian in Florida. In addition, the Company experienced unfavorable development of approximately $1 million on prior years' catastrophe losses in 2022. The following is information about incurred and paid claims development as of December 31, 2024, 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 the three major categories of our product lines: private passenger and commercial automobile lines of insurance business, homeowners line of insurance business, and commercial property line of insurance business. As the information presented is for these three major categories of 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, 2015 to 2023 is presented as unaudited supplementary information. Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance (Private Passenger and Commercial Automobile Insurance) As of December 31, 2024 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, 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (1) 2020 (1) 2021 (1) 2022 (1) 2023 (1) 2024 (Amounts in thousands) (Amounts in thousands) 2015 $ 1,551,105 $ 1,588,443 $ 1,610,839 $ 1,634,435 $ 1,645,950 $ 1,649,170 $ 1,653,878 $ 1,654,843 $ 1,655,267 $ 1,654,800 $ 335 170 2016 1,672,853 1,669,642 1,713,696 1,731,997 1,732,410 1,740,807 1,743,417 1,745,513 1,744,803 1,974 155 2017 1,703,857 1,727,277 1,741,825 1,733,425 1,748,289 1,755,702 1,754,356 1,753,163 2,368 149 2018 1,781,817 1,773,502 1,785,071 1,806,240 1,807,297 1,811,302 1,814,240 7,291 147 2019 1,916,269 1,911,268 1,959,262 1,954,151 1,951,924 1,948,995 11,185 148 2020 1,514,551 1,448,083 1,452,343 1,430,973 1,419,119 15,497 91 2021 1,811,064 1,879,751 1,854,319 1,834,183 40,221 105 2022 2,255,032 2,264,193 2,262,432 103,677 116 2023 2,349,659 2,398,449 276,766 107 2024 2,420,766 791,846 91 Total $ 19,250,950 __________ (1) The information for the years 2015 to 2023 is presented as unaudited supplemental information. Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance (Private Passenger and Commercial Automobile Insurance) For the Years Ended December 31, Accident Year 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (1) 2020 (1) 2021 (1) 2022 (1) 2023 (1) 2024 (Amounts in thousands) 2015 $ 1,040,253 $ 1,336,223 $ 1,466,368 $ 1,560,480 $ 1,614,188 $ 1,634,780 $ 1,643,443 $ 1,651,465 $ 1,654,069 $ 1,654,360 2016 1,094,006 1,395,199 1,554,217 1,656,192 1,699,069 1,722,293 1,736,697 1,740,902 1,741,949 2017 1,076,079 1,399,202 1,561,850 1,648,328 1,701,298 1,733,196 1,746,147 1,750,074 2018 1,082,127 1,417,637 1,588,049 1,697,228 1,757,923 1,784,876 1,799,373 2019 1,134,859 1,494,342 1,698,121 1,828,410 1,896,186 1,925,074 2020 825,398 1,089,096 1,242,000 1,328,686 1,375,466 2021 992,705 1,410,748 1,599,756 1,717,524 2022 1,237,725 1,743,364 1,984,312 2023 1,313,944 1,835,079 2024 1,232,949 Total $ 17,016,160 All outstanding liabilities before 2015, net of reinsurance (560) Loss and allocated loss adjustment expense reserves, net of reinsurance $ 2,234,230 __________ (1) The information for the years 2015 to 2023 is presented as unaudited supplemental information. Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance (Homeowners Insurance) As of December 31, 2024 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, 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (1) 2020 (1) 2021 (1) 2022 (1) 2023 (1) 2024 (Amounts in thousands) (Amounts in thousands) 2015 $ 234,800 $ 234,881 $ 233,501 $ 236,855 $ 238,652 $ 239,941 $ 240,927 $ 237,872 $ 237,994 $ 237,701 $ 60 24 2016 250,691 259,489 259,497 259,708 260,496 259,984 259,722 259,701 260,179 16 24 2017 309,491 295,163 288,322 289,869 289,294 291,360 290,909 291,804 4 30 2018 311,798 308,361 310,695 305,292 306,347 308,345 306,857 572 25 2019 359,643 366,139 361,421 360,609 360,140 362,401 1,427 30 2020 420,257 411,404 413,882 411,408 411,127 4,213 29 2021 510,724 511,311 504,086 501,214 7,556 31 2022 578,489 562,562 567,123 16,682 31 2023 717,988 709,918 34,859 41 2024 730,818 161,375 29 Total $ 4,379,142 __________ (1) The information for the years 2015 to 2023 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 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (1) 2020 (1) 2021 (1) 2022 (1) 2023 (1) 2024 (Amounts in thousands) 2015 $ 163,196 $ 213,994 $ 224,178 $ 230,480 $ 234,683 $ 235,971 $ 236,143 $ 236,983 $ 237,651 $ 237,468 2016 173,537 234,215 245,878 253,919 256,642 258,477 259,045 259,875 260,095 2017 217,900 269,254 278,341 283,311 286,531 290,291 290,984 291,595 2018 213,038 271,534 286,658 294,099 300,742 303,053 305,175 2019 240,240 324,953 340,237 350,288 355,697 359,466 2020 271,208 365,910 386,297 395,412 401,079 2021 316,314 458,124 473,644 485,001 2022 339,242 501,075 530,772 2023 474,713 636,330 2024 449,119 Total $ 3,956,100 All outstanding liabilities before 2015, net of reinsurance 1,179 Loss and allocated loss adjustment expense reserves, net of reinsurance $ 424,221 __________ (1) The information for the years 2015 to 2023 is presented as unaudited supplemental information. Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance (Commercial Property Insurance) As of December 31, 2024 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, 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (1) 2020 (1) 2021 (1) 2022 (1) 2023 (1) 2024 (Amounts in thousands) (Amounts in thousands) 2015 $ 33,015 $ 34,932 $ 36,641 $ 37,197 $ 37,052 $ 37,632 $ 38,822 $ 39,749 $ 40,490 $ 40,312 $ 38 1 2016 38,639 41,827 46,349 45,665 46,170 55,746 56,479 53,687 51,796 158 1 2017 46,410 50,378 53,829 55,288 57,658 59,800 64,645 63,207 1,312 1 2018 43,859 45,610 42,587 44,452 47,141 47,799 46,474 849 1 2019 45,574 42,756 43,167 46,845 51,677 51,721 1,744 1 2020 56,319 46,663 42,968 50,634 49,630 3,732 1 2021 58,413 55,863 73,289 78,371 15,537 1 2022 75,113 83,086 95,927 22,328 1 2023 80,150 82,778 31,451 1 2024 97,285 51,540 — Total $ 657,501 __________ (1) The information for the years 2015 to 2023 is presented as unaudited supplemental information. Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance (Commercial Property Insurance) For the Years Ended December 31, Accident Year 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (1) 2020 (1) 2021 (1) 2022 (1) 2023 (1) 2024 (Amounts in thousands) 2015 $ 17,110 $ 26,226 $ 30,703 $ 33,287 $ 34,836 $ 36,262 $ 38,064 $ 39,520 $ 40,087 $ 40,170 2016 18,243 27,210 35,426 39,499 41,221 46,026 48,036 49,190 50,579 2017 18,910 31,116 36,284 43,809 47,597 52,350 60,803 60,980 2018 16,266 24,146 29,436 34,520 37,428 41,376 43,527 2019 15,182 25,956 30,592 35,780 40,056 45,886 2020 19,529 27,705 31,138 37,130 40,713 2021 24,032 33,477 41,432 54,763 2022 25,699 44,304 58,455 2023 22,119 32,384 2024 17,183 Total $ 444,640 All outstanding liabilities before 2015, net of reinsurance 205 Loss and allocated loss adjustment expense reserves, net of reinsurance $ 213,066 __________ (1) The information for the years 2015 to 2023 is presented as unaudited supplemental information. The following is unaudited supplementary information about average historical claims duration as of December 31, 2024. Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance Years 1 2 3 4 5 6 7 8 9 10 Private Passenger and Commercial Automobile insurance 57.8 % 19.6 % 9.7 % 6.0 % 3.1 % 1.5 % 0.7 % 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 66.3 % 23.0 % 4.3 % 2.4 % 1.5 % 0.9 % 0.3 % 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 Commercial Property insurance 31.3 % 17.5 % 10.9 % 10.9 % 5.8 % 8.0 % 6.6 % 2.0 % 2.0 % 0.2 % 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, 2024 (Amounts in thousands) Net outstanding liabilities Private Passenger and Commercial Automobile insurance $ 2,234,230 Homeowners insurance 424,221 Commercial Property insurance 213,066 Other short-duration insurance lines 98,949 Loss and loss adjustment expense reserves, net of reinsurance recoverables on unpaid losses 2,970,466 Reinsurance recoverables on unpaid losses Private Passenger and Commercial Automobile insurance 26,499 Homeowners insurance 1,273 Commercial Property insurance 392 Other short-duration insurance lines 481 Total reinsurance recoverables on unpaid losses 28,645 Insurance lines other than short-duration 1,114 Unallocated claims adjustment expenses 151,806 152,920 Total gross loss and loss adjustment expense reserves $ 3,152,031

Dividends

Dividends	12 Months Ended
	Dec. 31, 2024
Dividends [Abstract]
Dividends	Dividends The following table presents shareholder dividends paid: Year Ended December 31, 2024 2023 2022 (Amounts in thousands, except per share data) Total paid $ 70,326 $ 70,322 $ 105,482 Per share paid $ 1.2700 $ 1.2700 $ 1.9050 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, 2024, the insurance subsidiaries of the Company are permitted to pay approximately $252 million in dividends in 2025 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 2024, 2023, and 2022, the Insurance Companies paid Mercury General ordinary dividends of $100 million, $0, and $0, respectively. On February 7, 2025, the Board of Directors declared a $0.3175 quarterly dividend payable on March 27, 2025 to shareholders of record on March 13, 2025.

Statutory Balances and Accounti

Statutory Balances and Accounting Practices	12 Months Ended
	Dec. 31, 2024
Statutory Balances And Accounting Practices [Abstract]
Statutory Balances and Accounting Practices	Statutory Balances and Accounting Practices The Insurance Companies prepare their statutory-basis financial statements in conformity with accounting practices prescribed or permitted by the insurance departments of their domiciliary states. Prescribed statutory accounting practices primarily include those published as statements of statutory accounting principles by the National Association of Insurance Commissioners (the "NAIC"), as well as state laws, regulations, and general administrative rules. Permitted statutory accounting practices encompass all accounting practices not so prescribed. As of December 31, 2024, 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, 2024 2023 2022 (Amounts in thousands) Statutory net income (loss) (1) $ 446,405 $ (35,590) $ (184,292) Statutory capital and surplus $ 2,030,460 $ 1,667,187 $ 1,502,424 __________ (1) Statutory net income (loss) reflects differences from GAAP net income (loss), 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, 2024
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. Matching contributions, at a rate set by the Board of Directors, totaled approximately $12.5 million, $11.1 million, and $10.8 million for 2024, 2023, and 2022, 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.

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation In February 2015, the Company adopted the 2015 Incentive Award Plan (the "2015 Plan"), replacing the 2005 Equity Incentive Plan (the "2005 Plan") which expired in January 2015. The 2015 Plan was approved at the Company's Annual Meeting of Shareholders in May 2015 and expired in January 2025. A maximum of 4,900,000 shares of common stock were authorized for issuance under the 2015 Plan upon exercise of stock options, stock appreciation rights and other awards, or upon vesting of restricted stock unit or deferred stock awards. No share-based compensation awards have been granted since March 2018 under the 2015 Plan. In February 2024, the Board adopted the 2024 Long-Term Incentive Plan (the “LTIP”) to provide certain key employees with the right to receive cash awards providing an opportunity to participate in the appreciation of the Company’s value and in order to retain these key employees and reward them for contributing to the success of the Company. Participants in the LTIP may be granted a number of notional interests, or phantom stock units ("PSUs"). Each PSU represents the right to receive payment of the value of a share of the Company’s common stock upon vesting. PSUs may be granted subject to vesting conditions, which may include service-based and/or performance-based vesting conditions tied to corporate and/or individual achievement objectives. An employee must remain employed through the date of payment of an award to be eligible for any payout under the LTIP. These PSUs are settled in cash upon vesting and accounted for as liability-based awards. The following table presents a summary of cash received, compensation costs recognized and excess tax benefit, related to the Company's share-based awards: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Cash received from stock option exercises $ 752 $ — $ — Compensation cost, all share-based awards 4,648 — 15 Excess tax benefit, all share-based awards (87) — (1) Stock Option Awards The Company's 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 vested over the four-year requisite service period, except for 10,000 of these stock options that 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). 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, 2024: Shares Weighted-Average Outstanding at January 1, 2024 17,500 $ 43.01 Exercised (17,500) $ 43.01 Canceled or expired — $ — Outstanding at December 31, 2024 — $ — Exercisable at December 31, 2024 — $ — The aggregate intrinsic value of stock options exercised (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) was $557,910 and $29,975 for 2024 and 2022, respectively. There were no stock options exercised in 2023. The total fair value of stock options vested was $141,584 for 2022. There were no stock options vested in 2024 and 2023. Performance-based PSUs During the year ended December 31, 2024, the Company granted a total "target" award of 200,532 performance-based PSUs to certain executive officers and other key employees of the Company, 3,016 of which were forfeited because the recipients were no longer employed by the Company. The payout value of the performance-based PSUs granted under the LTIP will be determined based on the achievement of specific, pre-established corporate performance objectives, and in part on individual performance, during the applicable three-year performance period (the "Performance Cycle"). The maximum payout level for the performance-based PSUs is 150% of the “target” award. These performance-based PSUs vest at the end of the Performance Cycle beginning with the year of the grant, and then only if, and to the extent that, the Company’s performance during the Performance Cycle achieves the threshold established by the Compensation Committee of the Board. Each annual performance result is determined based on the average of the Company’s annual market share growth and its annual combined ratio. The vested number of performance-based PSUs for each grantee is based on the average of the Company's three annual performance results combined with the individual's performance during the Performance Cycle. The cash payout amount for each unit of the vested performance-based PSUs is equal to the average closing price per share of the Company’s common stock for the 30 calendar days preceding the determination of the final number of vested PSUs for each grantee at the end of the Performance Cycle. Liabilities for the expected cash payout and associated compensation expenses are recognized based on management’s best estimate of the number of the performance-based PSUs expected to be vested resulting from the probable outcome of the performance-based vesting conditions, combined with the market price of the Company's common stock at the end of each reporting period. If the performance-based vesting conditions are not expected to be met for the Performance Cycle, no compensation cost will be recognized and any recognized compensation cost will be reversed. The following table presents the summary of the performance-based PSU grants as of December 31, 2024: Grant year 2024 Three-year performance period ending December 31, 2026 Vesting shares, target (net of forfeited) 197,516 Vesting shares, maximum (net of forfeited) 296,274 The following table presents a summary of performance-based PSU awards activity, based on target vesting, during 2024: Shares Weighted- Outstanding at January 1 — $ — Granted 200,532 $ 39.12 Vested — $ — Forfeited/Canceled (3,016) $ 59.80 Expired — $ — Outstanding at December 31 197,516 $ 66.48 Restricted PSUs The Company, from time to time, grants restricted PSUs to certain key employees, typically to retain such key employees. The restricted PSUs vest in three equal annual installments on each of the first three anniversaries of the grant date. The payout value of the restricted PSUs granted under the LTIP will be determined based on the closing price per share of the Company's common stock at each vesting date. The vested amount of the restricted PSUs is paid at the end of each annual vesting period. During the year ended December 31, 2024, the Company granted a total of 36,315 restricted PSUs to certain key employees of the Company, 726 of which were forfeited because the recipients were no longer employed by the Company. The following table presents a summary of restricted PSU awards activity during 2024: Shares Weighted- Outstanding at January 1 — $ — Granted 36,315 $ 61.67 Vested — $ — Forfeited/Canceled (726) $ 62.98 Expired — $ — Outstanding at December 31 35,589 $ 66.48 The Company recorded approximately $4.6 million of share-based compensation expense associated with the performance-based and restricted PSUs for the year ended December 31, 2024, which are included in other operating expenses in its consolidated statements of operations.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	12 Months Ended
	Dec. 31, 2024
Earnings Per Share Reconciliation [Abstract]
Earnings (Loss) Per Share	Earnings (Loss) Per Share The following table presents a reconciliation of the numerators and denominators of the basic and diluted earnings (loss) per share calculations: Year Ended December 31, 2024 2023 2022 Net Income Weighted Average Per-Share Net Income Weighted Average Per-Share Net Loss Weighted Average Per-Share (Amounts and numbers in thousands, except per-share data) Basic EPS Income (loss) available to common stockholders $ 467,953 55,373 $ 8.45 $ 96,336 55,371 $ 1.74 $ (512,672) 55,371 $ (9.26) Effect of dilutive securities: Options — 4 — — — — Diluted EPS Income (loss) available to common stockholders after assumed conversions $ 467,953 55,377 $ 8.45 $ 96,336 55,371 $ 1.74 $ (512,672) 55,371 $ (9.26) Potentially dilutive securities representing approximately 17,500 shares of common stock were excluded from the computation of diluted earnings (loss) per common share for each of 2023 and 2022, because their effect would have been anti-dilutive. There were no potentially dilutive securities with anti-dilutive effect for 2024. For 2022, 26 incremental shares were also excluded from the computation of diluted loss per share as the Company generated a net loss in 2022.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
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 2030. See Note 7. Leases for additional information on leases and future lease payments as of December 31, 2024. 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 30, 2024, the most recent date at which information was available, was approximately $83.8 million. There were no assessments made in 2024. Regulatory and Legal Matters On September 10, 2021, the California DOI served the Company a Notice of Non-Compliance ("NNC"), alleging violations in connection with its 2014 Rating & Underwriting Examination Report, which was adopted by the California DOI in 2019. The NNC itemizes alleged violations, many of which management believes were corrected or otherwise resolved during the course of the examination, and seeks penalties. The Company has participated in lengthy and detailed discussions with the California DOI since the adoption of the examination report, in an attempt to address the issues deemed unresolved by the California DOI, and has taken several additional corrective actions approved by the California DOI. On August 1, 2022, the California DOI publicly announced its intention to pursue an administrative action against the Company with respect to certain outstanding issues. The Company filed a written response to the NNC on September 29, 2022, along with written discovery requests. The response, consisting of a notice of defense, a motion to strike, and a motion to dismiss, challenges the NNC on procedural and substantive grounds. On November 9, 2022, the California DOI served objections and non-substantive responses to the Company's discovery requests. On November 14, 2023, the California DOI granted Consumer Watchdog's petition to intervene in the NNC, although the Company did not agree to allow its involvement in the mediation, which took place on March 4, 2024. The parties did not resolve the case at the mediation, but have continued settlement discussions. At the request of the California DOI, the Company recently provided further documentation that all outstanding compliance issues have been resolved, and agreed to implement one additional process change. Negotiations are continuing on the amount of monetary relief needed to reach a final settlement. If negotiations are unsuccessful, the Company cannot reasonably predict the likelihood, timing or outcome of any hearing process or administrative action, nor can it reasonably estimate the amount of penalties, if any. 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 accruals for estimated liabilities 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. In addition, the Company accrues for anticipated legal defense costs associated with such lawsuits and regulatory actions. 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.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2024
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 12 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 ("CODM") consists of chairman of the board of directors and chief executive officer. The CODM reviews 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). The CODM evaluates operating results by line of insurance business that is further segregated by state to obtain a more disaggregated view of the Company’s operations. These operating results provide the CODM with significant information in making key operating decisions that include making price adjustments, hiring additional resources, and redeploying resources to a different line of insurance business or a different state. The lines of insurance business largely consist of private passenger automobile insurance, homeowners insurance, commercial automobile insurance, commercial property insurance, and automobile mechanical protection warranties. The Company manages its business operations under one reportable business segment and one non-reportable business segment based on lines of insurance business. In identifying its reportable and non-reportable business segments, the Company considered the financial information provided to its CODM. After considering various factors, including the development and utilization of financial data provided to the CODM, the Company concluded that identifying its operating segments by line of insurance business was consistent with the objectives of ASC 280-10. Certain operating segments have been aggregated based on similar characteristics, including the nature of products and services provided, the method used to deliver those products and services, types of customers, and the nature of the regulatory environment, to arrive at the Company’s reportable business segment (Property and Casualty Lines) and its non-reportable business segment (Other Lines). 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 Lines business segment offers several insurance products to the Company’s individual customers and small business customers. The major insurance products (lines of insurance business) 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 passenger 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 Lines business segment represents 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, 2024 2023 2022 Property & Casualty Other Total Property & Casualty Other Total Property & Casualty Other Total (Amounts in millions) Net premiums earned $ 5,046.1 $ 29.4 $ 5,075.5 $ 4,245.4 $ 29.0 $ 4,274.4 $ 3,923.6 $ 28.9 $ 3,952.5 Less: Losses 3,156.4 14.9 3,171.3 3,019.4 13.7 3,033.1 2,851.3 13.1 2,864.4 Loss adjustment expenses 511.3 1.9 513.2 482.8 2.0 484.8 495.9 1.9 497.8 Losses and loss adjustment expenses 3,667.7 16.8 3,684.5 3,502.2 15.7 3,517.9 3,347.2 15.0 3,362.2 Policy acquisition costs 846.6 11.7 858.3 696.9 11.6 708.5 645.5 9.1 654.6 Other operating expenses 324.1 3.1 327.2 276.6 3.1 279.7 276.5 3.2 279.7 Underwriting gain (loss) 207.7 (2.2) 205.5 (230.3) (1.4) (231.7) (345.6) 1.6 (344.0) Investment income 280.0 234.6 168.4 Net realized investment gains (losses) 88.7 101.0 (488.1) Other income 31.5 19.7 10.2 Interest expense (30.8) (24.2) (17.2) Pre-tax income (loss) $ 574.9 $ 99.4 $ (670.7) Net income (loss) $ 468.0 $ 96.3 $ (512.7) 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, 2024 2023 2022 Property & Casualty Other Total Property & Casualty Other Total Property & Casualty Other Total (Amounts in millions) Private passenger automobile $ 3,278.5 $ — $ 3,278.5 $ 2,796.1 $ — $ 2,796.1 $ 2,655.7 $ — $ 2,655.7 Homeowners 1,168.7 — 1,168.7 957.7 — 957.7 830.6 — 830.6 Commercial automobile 378.2 — 378.2 303.9 — 303.9 267.9 — 267.9 Other 220.7 29.4 250.1 187.7 29.0 216.7 169.4 28.9 198.3 Net premiums earned $ 5,046.1 $ 29.4 $ 5,075.5 $ 4,245.4 $ 29.0 $ 4,274.4 $ 3,923.6 $ 28.9 $ 3,952.5 Private passenger automobile $ 3,395.8 $ — $ 3,395.8 $ 2,841.8 $ — $ 2,841.8 $ 2,598.9 $ — $ 2,598.9 Homeowners 1,367.3 — 1,367.3 1,119.0 — 1,119.0 940.3 — 940.3 Commercial automobile 387.0 — 387.0 346.2 — 346.2 276.8 — 276.8 Other 324.2 26.5 350.7 224.9 26.6 251.5 202.1 30.4 232.5 Direct premiums written $ 5,474.3 $ 26.5 $ 5,500.8 $ 4,531.9 $ 26.6 $ 4,558.5 $ 4,018.1 $ 30.4 $ 4,048.5

Summary Of Investments Other Th

Summary Of Investments Other Than Investments In Related Parties	12 Months Ended
	Dec. 31, 2024
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 $ 94,102 $ 93,837 $ 93,837 Municipal securities 3,018,428 2,987,054 2,987,054 Mortgage-backed securities 271,444 259,421 259,421 Corporate securities 863,323 841,715 841,715 Collateralized loan obligations 623,817 626,255 626,255 Other asset-backed securities 111,344 105,096 105,096 Total fixed maturity securities 4,982,458 4,913,378 4,913,378 Equity securities: Common stock 634,821 741,369 741,369 Non-redeemable preferred stock 52,206 42,603 42,603 Private equity funds measured at net asset value (1) 108,041 95,203 95,203 Total equity securities 795,068 879,175 879,175 Short-term investments 283,792 283,817 283,817 Total investments $ 6,061,318 $ 6,076,370 $ 6,076,370 __________ (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, 2023 Type of Investment Cost Fair Value Amounts in the (Amounts in thousands) Fixed maturity securities: U.S. government bonds $ 174,903 $ 174,450 $ 174,450 Municipal securities 2,797,971 2,777,258 2,777,258 Mortgage-backed securities 201,727 186,887 186,887 Corporate securities 626,723 599,630 599,630 Collateralized loan obligations 486,984 484,947 484,947 Other asset-backed securities 106,675 96,164 96,164 Total fixed maturity securities 4,394,983 4,319,336 4,319,336 Equity securities: Common stock 497,543 597,888 597,888 Non-redeemable preferred stock 64,860 51,563 51,563 Private equity funds measured at net asset value (1) 92,536 81,242 81,242 Total equity securities 654,939 730,693 730,693 Short-term investments 179,375 178,491 178,491 Total investments $ 5,229,297 $ 5,228,520 $ 5,228,520 __________ (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, 2024
Condensed Financial Information Disclosure [Abstract]
Condensed Financial Information of Registrant	December 31, 2024 2023 (Amounts in thousands) ASSETS Investments, at fair value: Fixed maturity securities (amortized cost $0; $9,979) $ — $ 9,949 Equity securities (cost $17,551; $17,227) 29,387 28,027 Short-term investments (cost $78; $571) 78 571 Investment in subsidiaries 2,476,777 2,084,346 Total investments 2,506,242 2,122,893 Cash 19,316 4,698 Accrued investment income 12 141 Amounts receivable from affiliates 17,037 503 Current income taxes — 5,148 Deferred income taxes — 1,544 Income tax receivable from affiliates 30,859 15,161 Other assets 1,233 1,499 Total assets $ 2,574,699 $ 2,151,587 LIABILITIES AND SHAREHOLDERS’ EQUITY Notes payable $ 574,128 $ 573,729 Amounts payable to affiliates 14,274 2,753 Income tax payable to affiliates 9,874 21,209 Current income taxes 19,195 — Deferred income taxes 4,837 — Other liabilities 5,867 5,751 Total liabilities 628,175 603,442 Commitments and contingencies Shareholders’ equity: Common stock 99,699 98,947 Retained earnings 1,846,825 1,449,198 Total shareholders’ equity 1,946,524 1,548,145 Total liabilities and shareholders’ equity $ 2,574,699 $ 2,151,587 SCHEDULE II, Continued MERCURY GENERAL CORPORATION CONDENSED FINANCIAL INFORMATION OF REGISTRANT STATEMENTS OF OPERATIONS Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Revenues: Net investment income $ 2,187 $ 2,998 $ 2,696 Net realized investment gains (losses) 3,046 1,431 (12,969) Total revenues 5,233 4,429 (10,273) Expenses: Other operating expenses 2,535 2,526 2,446 Interest 30,697 24,129 17,178 Total expenses 33,232 26,655 19,624 Loss before income taxes and equity in net income (loss) of subsidiaries (27,999) (22,226) (29,897) Income tax benefit (3,386) (4,379) (10,234) Loss before equity in net income (loss) of subsidiaries (24,613) (17,847) (19,663) Equity in net income (loss) of subsidiaries 492,566 114,183 (493,009) Net income (loss) $ 467,953 $ 96,336 $ (512,672) SCHEDULE II, Continued MERCURY GENERAL CORPORATION CONDENSED FINANCIAL INFORMATION OF REGISTRANT STATEMENTS OF CASH FLOWS Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Cash flows from operating activities: Net cash (used in) provided by operating activities $ (28,137) $ (14,703) $ 225 Cash flows from investing activities: Capital contribution to subsidiaries (165) (150,000) — Capital distribution from subsidiaries — — 3,431 Distributions received from special purpose entities 300 6,210 2,904 Dividends received from subsidiaries 100,000 — — Fixed maturity securities available for sale in nature Purchases — — (11,905) Sales 5,000 — 1,000 Calls or maturities 5,000 955 — Equity securities available for sale in nature Purchases (2,399) (1,172) (5,307) Sales 4,057 25,848 48,215 Decrease (increase) in short-term investments 493 26,481 (6,268) Other, net 43 183 667 Net cash provided by (used in) investing activities 112,329 (91,495) 32,737 Cash flows from financing activities: Dividends paid to shareholders (70,326) (70,322) (105,482) Proceeds from stock options exercised 752 — — Proceeds from bank loan — 175,000 25,000 Net cash (used in) provided by financing activities (69,574) 104,678 (80,482) Net increase (decrease) in cash 14,618 (1,520) (47,520) Cash: Beginning of year 4,698 6,218 53,738 End of year $ 19,316 $ 4,698 $ 6,218 SUPPLEMENTAL CASH FLOW DISCLOSURE Interest paid $ 30,009 $ 22,959 $ 16,611 Income taxes (refunded) paid, net $ (7,075) $ 1,630 $ (14,102) 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 Investment Vehicles 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 such as private equity funds. At December 31, 2024, the Company had three such special purpose investment vehicles: Fannette Funding LLC, Animas Funding LLC, and Upper Animas Holdings LLC. These special purpose investment vehicles are consolidated into the Company. Creditors have no recourse against the Company in the event of default by these special purpose investment vehicles. The Company had no implied or unfunded commitments to these entities at December 31, 2024 and 2023. The Company's financial or other support provided to these entities and its loss exposure are limited to its collateral and original investment. Mercury General received distributions of $0.3 million, $6.2 million, and $2.9 million in 2024, 2023, and 2022, respectively, from these special purpose investment vehicles. Dividends received from Subsidiaries Dividends of $100 million, $0 and $0 were received by Mercury General from its 100% owned insurance subsidiaries in 2024, 2023 and 2022, respectively, and were recorded as a reduction to investment in subsidiaries. Capitalization of Insurance Subsidiaries Mercury General made capital contributions to its insurance subsidiaries of $0.2 million, $150.0 million and $0 in 2024, 2023 and 2022, respectively. In addition, Mercury General received a capital distribution from its insurance subsidiaries of $0, $0, and $3,431,433 in 2024, 2023 and 2022, respectively. The capital distribution for 2022 was related to the dissolution of an insurance subsidiary in November 2022, pursuant to which Mercury General received the complete return of its invested capital. 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 amounts outstanding under the existing loan and credit facilities and 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%. On March 31, 2021, the Company entered into an unsecured $75 million five-year revolving credit facility. On November 18, 2022, the Company entered into the First Amendment to this credit facility. The First Amendment extended the maturity date of the loan to November 16, 2026 from March 31, 2026 with possible further extension if certain conditions are met, increased the aggregate commitments by all the lenders to $200 million from $75 million, and replaced the LIBOR with the term SOFR. On November 30, 2023, the Company entered into the Second Amendment to this credit facility, which further increased the aggregate commitments by all the lenders to $250 million from $200 million. On November 22, 2024, the Company entered into the Third Amendment to this credit facility, which extended and fixed the maturity date of the loan to November 18, 2027. The interest rates on borrowings under the credit facility are based on the Company's debt to total capital ratio and range from Term SOFR plus 112.5 basis points when the ratio is under 20% to Term SOFR plus 150.0 basis points when the ratio is greater than or equal to 30%. Commitment fees for the undrawn portions of the credit facility range from 12.5 basis points when the ratio is under 20% to 22.5 basis points when the ratio is greater than or equal to 30%. 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 22.8% at December 31, 2024, resulting in a 15.0 basis point commitment fee on any undrawn portion of the credit facility. As of February 11, 2025, a total of $200 million was drawn under this facility on a three-month revolving basis at an annual interest rate of approximately 5.79%, with $50 million available to be drawn. The Company contributed $150 million of the total amount drawn to the surplus of its consolidated insurance subsidiaries, and used the remainder for general corporate purposes. Federal Income Taxes The Company files a consolidated federal income tax return for the following entities: Mercury Casualty Company Mercury Select Management Company, Inc. Mercury Insurance Company Mercury Insurance Services LLC California Automobile Insurance Company AIS Management LLC California General Underwriters Insurance Company, Inc. Auto Insurance Specialists LLC Mercury Insurance Company of Illinois PoliSeek AIS Insurance Solutions, Inc. Mercury Insurance Company of Georgia Animas Funding LLC Mercury Indemnity Company of Georgia Fannette Funding LLC American Mercury Insurance Company Mercury Plus Insurance Services LLC American Mercury Lloyds Insurance Company Mercury Information Technology Services LLC Orion Indemnity Company Upper Animas Holdings LLC Mercury County Mutual Insurance Company Mercury Indemnity Company of America 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, 2024
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract]
Supplemental Reinsurance Premiums	2024 2023 2022 (Amounts in thousands) Direct amounts $ 5,196,699 $ 4,368,342 $ 4,022,611 Ceded to other companies (136,698) (109,445) (80,950) Assumed 15,455 15,481 10,821 Net amounts $ 5,075,456 $ 4,274,378 $ 3,952,482

Subsequent Event

Subsequent Event	12 Months Ended
	Dec. 31, 2024
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event In January 2025, extreme wind-driven wildfires caused widespread damage across parts of Southern California, primarily in the communities of Pacific Palisades and Altadena. The wildfires are known as the Palisades and Eaton fires (collectively, the “Wildfires”). The Company is currently estimating gross catastrophe losses from the Wildfires before its share of FAIR plan losses in the range of $1.6 billion to $2.0 billion and net catastrophe losses before taxes in the range of $155 million to $325 million. The range in net catastrophe losses from the Wildfires is primarily based on the size of the gross loss, subrogation recoverability for the Eaton fire, and whether we choose to have the Wildfires be one or two events, as discussed in more detail below. These estimates are based on information known to date informed by historical claims settlement information from previous major wildfires to calculate estimated gross ultimate losses. Due to the scope of the recent Wildfires, the estimates may change as more information becomes available. The Company estimates that approximately 55% - 60% of the losses are from Palisades and 40% - 45% are from Eaton. The Company expects its underlying first quarter 2025 results, which exclude catastrophe losses, to partially offset the net catastrophe losses from the Wildfires. The Company’s catastrophe reinsurance program provides $1,290 million of limits on a per occurrence basis after covered catastrophe losses exceed the Company’s retention of $150 million. The Company also has up to $20 million of coverage on a property excess of loss reinsurance treaty available to offset losses exceeding $5 million per property that attaches prior to the catastrophe limits, and the Company expects to use approximately $10 million to $20 million of those limits for wildfire claims. On the catastrophe reinsurance program, one percent of the reinsurance limit of the $650 million xs $650 million coverage layer was placed as parametric coverage that pays out based on industry insured values in pre-determined grids within the fire footprint and the Company’s participation percentage within that grid. The Company has determined that this portion of the reinsurance will not be eligible for recovery, and as such, $6.5 million of the $1,290 million of total limits does not qualify for the Eaton or Palisades fires. The Company is engaged with legal counsel in the pursuit of subrogation, particularly on the Eaton fire. In several previous wildfire events caused by utility company equipment, we sold our subrogation rights, but we have not determined whether we will do so with the Eaton event. The Company is a member of the California FAIR plan, a quasi-governmental fire insurer of last-resort, and, to the extent FAIR plan has losses exceeding its Capital and Reinsurance coverage, the FAIR plan can assess its member companies for the shortfall apportioned out based on each company’s California market share. The FAIR plan had significant losses from the Wildfires, however the actual amount is not yet known. The Company’s reinsurance allows for the Company's share of FAIR plan catastrophe losses to be included as reinsured losses. In addition, the California DOI allows for recoupment of a portion of the FAIR plan assessments via a surcharge to policyholders. Between the coverage afforded by reinsurance and the ability to recoup a portion of the assessment, the Company does not expect the FAIR plan assessment to materially add to the net wildfire losses from these events. Catastrophe losses from the Wildfires, net of applicable reinsurance benefits, and if applicable, subrogation, will be recorded as part of losses and loss adjustment expenses in the Company's consolidated statements of operations for the three-month period ending March 31, 2025. To the extent that losses are reinsured, the reinsurance program calls for reinstatements of limits to cover future events. If the full $1,290 million limits are used up, then the total reinstatement premium would be $101 million. Reinstatement premiums will be charged evenly over the first and second quarters of 2025. The Company’s catastrophe reinsurance treaty allows for the combining of events that occur within a 150-mile radius as a single occurrence. Additionally, if each individual event is classified as its own catastrophic event by the Property Claims Service (“PCS"), a unit of the Insurance Services Office, each event can be considered a separate occurrence. In the case of the Palisades and Eaton wildfires, the PCS has designated each as a separate event. The Company has not yet determined if it will consider the Wildfires as two separate events. As more information becomes available to the Company, including any subrogation potential, the Company will evaluate whether it will consider the Wildfires as two separate events. Under a single-occurrence scenario, the Company will retain the first $150 million in losses and up to $6.5 million of losses for parametric coverage not eligible for reinsurance coverage. Gross losses in excess of $1,440 million ($150 million retention plus $1,290 million reinsurance limit), if any, will be retained by the Company. In addition, the Company is responsible for up to $101 million in reinstatement premiums. Under a two-event scenario, the Company may elect to use reinsurance limits of up to $1,290 million for the first event and reinstated limits up to $1,238 million for the second event. In this scenario, the Company would be responsible for the first and second event retentions of $150 million each, up to $6.5 million of losses for parametric coverage not eligible for reinsurance coverage for the first event and co-participation in losses for the second event equal to 8% of losses in excess of $650 million up to $1,300 million. In addition, the Company would be responsible for up to $101 million in reinstatement premiums. The Company may seek to acquire additional reinsurance if reinstated limits are used by the second event, for the stub period ending on June 30, 2025, the expiration date of the current contract. As of February 7, 2025, the Company has paid out $800 million related to the Wildfires, primarily for contents, dwelling limits and living expenses. The Company has sent an initial billing to our reinsurers and has collected $500 million to date. The Company has over $1 billion in Cash and Short-term investments on-hand, sufficient liquidity to handle the increased demand for cash. The Company does not expect the impact from this event to result in any defaults under our revolving credit debt covenants. After the Wildfires, Fitch and Moody’s placed the Company’s ratings under negative outlook, with Fitch affirming the Company’s financial strength rating of A- and Senior Debt Rating at BBB-, and Moody’s downgrading the financial strength rating from A2 to A3 and Senior Debt rating from Baa2 to Baa3. The negative outlook from both agencies generally reflects the uncertainty around future reinsurance costs, potential for additional significant catastrophe events and the condition of the overall California homeowners insurance market. The Company is currently reassessing its view of California wildfire risk, which will factor in the recent wildfires and related updates to catastrophe models, availability and pricing of reinsurance, ability to obtain rates in a timely and sufficient manner to support writing homeowners business, risk acceptability for individual risks and risk tolerance for concentrations of risk.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income (loss)	$ 467,953	$ 96,336	$ (512,672)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Processes for Assessing, Identifying, and Managing Material Risks from Cybersecurity Threats The Company has developed and implemented a cybersecurity risk management program designed to protect the confidentiality, integrity, and availability of its critical systems and information. The Company's cybersecurity risk management is integrated into and embedded in its overall enterprise risk management framework, and shares common methodologies, reporting channels and governance processes that apply across the enterprise risk management program to other legal, compliance, strategic, operational, and financial risk areas. The Enterprise Risk Management Committee oversees cybersecurity risks Company-wide while the Company’s Chief Technology Officer (“CTO”), a member of the Enterprise Risk Management Committee, oversees the Information Security business unit's cybersecurity management programs and activities. The Company’s cybersecurity risk management program includes the following key elements: • formal cybersecurity risk assessment designed to help identify material cybersecurity risks to the Company’s critical systems, information, services, and its broader enterprise information technology environment led by the Company's Information Security business unit and reported to its Enterprise Risk Management Committee; • a team comprised of information security, information technology, infrastructure, and compliance personnel responsible for directing the Company’s cybersecurity risk assessment and security processes and its cybersecurity incident response; • third-party cybersecurity service provider, as needed, to conduct independent review and testing of the Company's cybersecurity risks and report to the Company; • systems for protecting information technology systems and monitoring for suspicious events, such as threat protection, firewall and anti-virus software; • cybersecurity awareness and prevention training for all employees; • a Security Incident Response Plan designed to respond to cybersecurity incidents, which is regularly tested; • a Vendor Risk Management Process for vetting third party service providers with access to the Company’s information technology systems. The Information Security business unit regularly evaluates the Company's cybersecurity risk profile and reports to the Board of Directors (the “Board”). In the event that a significant cybersecurity incident is identified, the Company engages a third-party cybersecurity incident response consultant, as needed, to provide an independent evaluation of the incident. B. Oversight of Cybersecurity Risks Associated with Third Party Service Providers The Company oversees and identifies material risks from cybersecurity threats related to its use of third-party service providers in accordance with its Vendor Risk Management Process. The contracts with service providers are reviewed during the onboarding process, renewal periods, and as necessary. The contracts require service providers to report cybersecurity incidents that impact the Company's data or information systems or that can otherwise disrupt its operations to the Company on a timely basis.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	The Company has developed and implemented a cybersecurity risk management program designed to protect the confidentiality, integrity, and availability of its critical systems and information. The Company's cybersecurity risk management is integrated into and embedded in its overall enterprise risk management framework, and shares common methodologies, reporting channels and governance processes that apply across the enterprise risk management program to other legal, compliance, strategic, operational, and financial risk areas.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Board of Directors' Oversight of Risks from Cybersecurity Threats
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Company's Enterprise Risk Management Committee provides the Board with an overview of cybersecurity risks regularly. Additionally, the Company's Chief Executive Officer (“CEO”) provides the Board with an Information Security Incident Report for Board meetings, which summarizes new incidents that did not require "off-cycle" escalation to the Board, and status updates on previously reported high severity incidents, as well as a cybersecurity incident analysis report issued by a third-party cybersecurity service provider.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The five management personnel above also serve in the Company's Enterprise Risk Management Committee and are informed about and discuss updates to the cybersecurity risk management programs and cybersecurity incidents, including any prevention and detection measures as well as mitigation and remediation measures for any reported cybersecurity incidents. The Enterprise Risk Management Committee oversees the Company's overall risk management processes that include oversight of material risks from cybersecurity threats. The CEO and CFO are also members of the Company's Disclosure Committee. The CTO and Head of Information Security participate in Disclosure Committee meetings, as needed, to facilitate discussion and provide information on cybersecurity incidents reported. The CEO, CTO and Head of Information Security provide the Board with information and updates on cybersecurity risks and incidents as in-house technology and cybersecurity experts during Board meetings or as needed.
Cybersecurity Risk Role of Management [Text Block]	The Company's Information Security business unit primarily manages the day-to-day operations of monitoring cybersecurity risks to the Company's information systems, takes prevention, detection, and remediation measures for cybersecurity incidents, makes initial assessment of reported cybersecurity incidents, and reports such incidents to the Company's CEO, Chief Operating Officer (“COO”), CTO, Board and Enterprise Risk Management Committee as well as certain regulatory bodies, as needed. The following five management personnel are primarily responsible for assessing and managing the Company's material risks from cybersecurity threats: • Gabriel Tirador, Chief Executive Officer : The Company’s CEO, along with its COO, oversees the Technology team who monitors the Company’s information technology systems for suspicious events. The Company’s CEO reports to the Board regarding cybersecurity incidents and issues. The Company’s CEO, COO and CTO oversee the use of third-party cybersecurity consultants by the Information Security business unit to engage in periodic evaluations. Mr. Tirador has over 30 years' experience in the property and casualty insurance industry and in the Company and is an inactive Certified Public Accountant. As CEO of the Company, he has overseen its Technology business unit for over 20 years, among other business units. • Victor Joseph, President and Chief Operating Officer : The Company’s President and COO oversees the technology team who monitors the Company’s information technology systems for suspicious events. Mr. Joseph has overseen the technology team since 2022. Mr. Joseph has been employed by the Company in various capacities since 2009, and was appointed Executive Vice President and COO in January 2022 and President and COO in January 2024. • Theodore R. Stalick, Senior Vice President and Chief Financial Officer : The Company’s CFO oversees its enterprise risk management program which, among others, includes oversight of cybersecurity risk management and serves as Chairperson of the Company's Enterprise Risk Management Committee. Mr. Stalick has been the Company's CFO since 2001. Mr. Stalick is a Certified Public Accountant and has a Bachelors Degree in Business Administration, Accounting and Finance concentration, and an MBA, Business Analytics concentration. • Wilson Pang, Vice President and Chief Technology Officer : The Company’s CTO regularly provides the Board with updates on cybersecurity risk management or significant reported cybersecurity incidents. The Company’s CTO works with the Company’s CEO, COO and Head of Information Security to determine the severity of cybersecurity incidents. The Company’s CTO also works with its Head of Information Security to direct action in the event of a severe cybersecurity incident. Mr. Pang has over 20 years’ experience in the technology industry. He has served in Chief Technology Officer and Chief Data Officer roles in several public companies and has deep expertise in technology, data, and artificial intelligence. He has a Master’s and a Bachelor’s Degree in electrical engineering. • Dustin Howard, Head of Information Security : The Company’s Head of Information Security supervises efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which include briefings from internal security personnel; threat intelligence and other information obtained from governmental, public or private sources, including external cybersecurity service providers; and alerts and reports produced by security tools deployed in the information technology environment. The Company’s Head of Information Security also oversees the creation of remediation action plans with the affected business units. Mr. Howard has over 30 years’ experience managing various aspects of information technology, and has extensive expertise in information security, compliance, and information technology infrastructure and service delivery. He has served in Head of Information Security, Chief Information Officer and Vice President roles in several public companies and has maintained Certified Information Systems Security Professional (“CISSP”) certification since 2001. He has a Bachelor’s Degree in Business Administration and a Master’s Degree in Information Systems. The five management personnel above also serve in the Company's Enterprise Risk Management Committee and are informed about and discuss updates to the cybersecurity risk management programs and cybersecurity incidents, including any prevention and detection measures as well as mitigation and remediation measures for any reported cybersecurity incidents. The Enterprise Risk Management Committee oversees the Company's overall risk management processes that include oversight of material risks from cybersecurity threats. The CEO and CFO are also members of the Company's Disclosure Committee. The CTO and Head of Information Security participate in Disclosure Committee meetings, as needed, to facilitate discussion and provide information on cybersecurity incidents reported. The CEO, CTO and Head of Information Security provide the Board with information and updates on cybersecurity risks and incidents as in-house technology and cybersecurity experts during Board meetings or as needed.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	The Company's Information Security business unit primarily manages the day-to-day operations of monitoring cybersecurity risks to the Company's information systems, takes prevention, detection, and remediation measures for cybersecurity incidents, makes initial assessment of reported cybersecurity incidents, and reports such incidents to the Company's CEO, Chief Operating Officer (“COO”), CTO, Board and Enterprise Risk Management Committee as well as certain regulatory bodies, as needed. The following five management personnel are primarily responsible for assessing and managing the Company's material risks from cybersecurity threats: • Gabriel Tirador, Chief Executive Officer : The Company’s CEO, along with its COO, oversees the Technology team who monitors the Company’s information technology systems for suspicious events. The Company’s CEO reports to the Board regarding cybersecurity incidents and issues. The Company’s CEO, COO and CTO oversee the use of third-party cybersecurity consultants by the Information Security business unit to engage in periodic evaluations. Mr. Tirador has over 30 years' experience in the property and casualty insurance industry and in the Company and is an inactive Certified Public Accountant. As CEO of the Company, he has overseen its Technology business unit for over 20 years, among other business units. • Victor Joseph, President and Chief Operating Officer : The Company’s President and COO oversees the technology team who monitors the Company’s information technology systems for suspicious events. Mr. Joseph has overseen the technology team since 2022. Mr. Joseph has been employed by the Company in various capacities since 2009, and was appointed Executive Vice President and COO in January 2022 and President and COO in January 2024. • Theodore R. Stalick, Senior Vice President and Chief Financial Officer : The Company’s CFO oversees its enterprise risk management program which, among others, includes oversight of cybersecurity risk management and serves as Chairperson of the Company's Enterprise Risk Management Committee. Mr. Stalick has been the Company's CFO since 2001. Mr. Stalick is a Certified Public Accountant and has a Bachelors Degree in Business Administration, Accounting and Finance concentration, and an MBA, Business Analytics concentration. • Wilson Pang, Vice President and Chief Technology Officer : The Company’s CTO regularly provides the Board with updates on cybersecurity risk management or significant reported cybersecurity incidents. The Company’s CTO works with the Company’s CEO, COO and Head of Information Security to determine the severity of cybersecurity incidents. The Company’s CTO also works with its Head of Information Security to direct action in the event of a severe cybersecurity incident. Mr. Pang has over 20 years’ experience in the technology industry. He has served in Chief Technology Officer and Chief Data Officer roles in several public companies and has deep expertise in technology, data, and artificial intelligence. He has a Master’s and a Bachelor’s Degree in electrical engineering. • Dustin Howard, Head of Information Security : The Company’s Head of Information Security supervises efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which include briefings from internal security personnel; threat intelligence and other information obtained from governmental, public or private sources, including external cybersecurity service providers; and alerts and reports produced by security tools deployed in the information technology environment. The Company’s Head of Information Security also oversees the creation of remediation action plans with the affected business units. Mr. Howard has over 30 years’ experience managing various aspects of information technology, and has extensive expertise in information security, compliance, and information technology infrastructure and service delivery. He has served in Head of Information Security, Chief Information Officer and Vice President roles in several public companies and has maintained Certified Information Systems Security Professional (“CISSP”) certification since 2001. He has a Bachelor’s Degree in Business Administration and a Master’s Degree in Information Systems.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Mr. Tirador has over 30 years' experience in the property and casualty insurance industry and in the Company and is an inactive Certified Public Accountant. As CEO of the Company, he has overseen its Technology business unit for over 20 years, among other business units.Mr. Joseph has overseen the technology team since 2022. Mr. Joseph has been employed by the Company in various capacities since 2009, and was appointed Executive Vice President and COO in January 2022 and President and COO in January 2024.Mr. Stalick has been the Company's CFO since 2001. Mr. Stalick is a Certified Public Accountant and has a Bachelors Degree in Business Administration, Accounting and Finance concentration, and an MBA, Business Analytics concentration.Mr. Pang has over 20 years’ experience in the technology industry. He has served in Chief Technology Officer and Chief Data Officer roles in several public companies and has deep expertise in technology, data, and artificial intelligence. He has a Master’s and a Bachelor’s Degree in electrical engineering.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Additionally, the Company's Chief Executive Officer (“CEO”) provides the Board with an Information Security Incident Report for Board meetings, which summarizes new incidents that did not require "off-cycle" escalation to the Board, and status updates on previously reported high severity incidents, as well as a cybersecurity incident analysis report issued by a third-party cybersecurity service provider.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
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") American Mercury Insurance Company Mercury Insurance Company ("MIC") American Mercury Lloyds Insurance Company (1) California Automobile Insurance Company ("CAIC") Mercury County Mutual Insurance Company (2) California General Underwriters Insurance Company, Inc. Mercury Indemnity Company of America Mercury Insurance Company of Illinois Orion Indemnity Company Mercury Insurance Company of Georgia Mercury Indemnity Company of Georgia Non-Insurance Companies Mercury Select Management Company, Inc. AIS Management LLC Mercury Insurance Services LLC Auto Insurance Specialists LLC Animas Funding LLC (3) PoliSeek AIS Insurance Solutions, Inc. Fannette Funding LLC (3) Mercury Plus Insurance Services LLC Upper Animas Holdings LLC (3) Mercury Information Technology Services LLC (4) Mercury (Shanghai) Information Technology Services Co., Ltd. ("Mercury Shanghai") (5) __________ (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. (4) Parent company of Mercury Shanghai. (5) Mercury Shanghai provides software development and related technical services to the Company's subsidiaries. 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 and Other Financial Instruments	Financial instruments recorded in the consolidated balance sheets include investments, notes receivable, other receivables, accounts payable, options sold, and notes payable. The Company’s investments include securities issued by the U.S. government and its agencies, securities issued by states and municipal governments and agencies, certain corporate and other debt securities, equity securities, and exchange traded funds. 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. 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 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. The Company’s fixed maturity and equity securities are classified as “trading” and carried at fair value as required when applying the fair value option. The majority of equity holdings, including non-redeemable preferred stocks, are actively traded on national exchanges or trading markets, and are valued at the last transaction price on the balance sheet date. The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Due to their short-term maturity, the carrying values of other receivables and accounts payable approximate their fair values. 98.4% of the fair value of its investments at December 31, 2024 is based on observable market prices, observable pricing parameters, or is derived from such prices or parameters. The availability of observable market prices and pricing parameters can vary by financial instrument. Observable market prices and pricing parameters of a financial instrument, or a related financial instrument, are used to derive a price without requiring significant judgment. The Company may hold or acquire financial instruments that lack observable market prices or pricing parameters because they are less actively traded currently or in future periods. The fair value of such instruments is determined using techniques appropriate for each particular financial instrument. These techniques may involve some degree of judgment. The price transparency of the particular financial instrument will determine the degree of judgment involved in determining the fair value of the Company’s financial instruments. Price transparency is affected by a wide variety of factors, including the type of financial instrument, whether it is a new financial instrument and not yet established in the marketplace, and the characteristics particular to the transaction. Financial instruments for which actively quoted prices or pricing parameters are available or for which fair value is derived from actively quoted prices or pricing parameters will generally have a higher degree of price transparency. By contrast, financial instruments that are thinly traded or not quoted will generally have diminished price transparency. Even in normally active markets, the price transparency for actively quoted financial instruments may be reduced during periods of market dislocation. Alternatively, in thinly quoted markets, the participation of market makers willing to purchase and sell a financial instrument provides a source of transparency for products that otherwise are not actively quoted. For a further discussion, see Note 4. Fair Value Measurements. 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 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, 2024 and 2023. 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. The Company does not defer advertising expenditures but expenses them as incurred.
Fixed Assets	Fixed assets are stated at historical cost less accumulated depreciation and amortization. A fixed asset classified as held for sale is measured at the lower of its carrying amount or fair value less cost to sell, and is presented separately from other fixed assets. The useful life for buildings is 40 years. Furniture, equipment, and purchased software are depreciated on a combination of straight-line and accelerated methods over 3 to 7 years. The Company has capitalized certain consulting costs, payroll, and payroll-related costs for employees related to computer software developed for internal use, which are amortized on a straight-line method over the estimated useful life of the software, generally not exceeding 7 years. In accordance with applicable accounting standards, capitalization ceases no later than the point at which a computer software project is substantially complete and ready for its intended use. Leasehold improvements are amortized over the shorter of the useful life of the assets or the life of the associated lease.
Goodwill And Other Intangible Assets and Capitalized Implementation Costs for Cloud Computing Arrangements	Goodwill and other intangible assets arise as a result of business acquisitions and consist of the excess of the cost of the acquisitions over the tangible and intangible assets acquired and liabilities assumed and identifiable intangible assets acquired. Identifiable intangible assets consist of the value of customer relationships, trade names, software and technology, and favorable leases, which are all subject to amortization, and an insurance license which is not subject to amortization.
Premium Revenue Recognition	Premium revenue is recognized on a pro-rata basis over the terms of the policies in proportion to the amount of insurance protection provided. Premium revenue includes installment and other fees for services which are recognized in the periods in which the services are rendered. Unearned premiums represent the portion of the written premium related to the unexpired policy term. Unearned premiums are predominantly computed monthly on a pro-rata basis and are stated gross of reinsurance deductions, 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.
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.
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 (Loss) Per Share	Basic earnings (loss) per share excludes dilution and reflects net income (loss) divided by the weighted average shares of common stock outstanding during the periods presented. Diluted earnings (loss) 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. The Company’s deferred income taxes usually include a combination of ordinary and capital deferred tax benefits and expenses. At December 31, 2024, the Company’s deferred income taxes were in a net asset position mainly due to deferred tax assets generated by unearned premiums and loss reserve discounting. These deferred tax assets were substantially offset by deferred tax liabilities resulting from deferred policy acquisition costs. 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, and to the extent management does not believe these assets are more likely than not to be realized, a valuation allowance is established. 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. Management’s recoverability assessment of the Company’s deferred tax assets which are ordinary in character takes into consideration the Company’s strong history of generating ordinary taxable income and a reasonable expectation that it will continue to generate ordinary taxable income in the future. The Company also has various deferred tax liabilities that represent sources of future ordinary taxable income. Management’s recoverability assessment with regard to its capital deferred tax assets is based on estimates of anticipated capital gains, tax-planning strategies available to generate future taxable capital gains, and the Company's capacity to absorb capital losses carried back to prior years, each of which would contribute to the realization of deferred tax benefits. The Company has significant unrealized gains in its investment portfolio that could be realized through asset dispositions, at management’s discretion. In addition, the Company expects to hold certain debt securities, which are currently in loss positions, to recovery or maturity. Management believes unrealized losses related to these debt securities, which represent a portion of the unrealized loss positions at December 31, 2024, are fully realizable at maturity. Management believes its long-term time horizon for holding these securities allows it to avoid any forced sales prior to maturity. Further, the Company has the capability to generate additional realized capital gains by entering into sale-leaseback transactions using one or more of its appreciated real estate holdings. The realized gains on the real estate holdings could be used to realize both ordinary and capital deferred tax assets. The Company also has the capacity to recoup capital deferred tax assets through tax capital loss carryback claims for taxes paid within permitted carryback periods. The Company has the capability to implement tax planning strategies and it has a steady history of generating positive cash flows from operations and believes that its liquidity needs can be met in future periods without the forced sale of its investments. This capability assists management in controlling the timing and amount of realized losses generated during future periods. By prudent utilization of some or all of these strategies, management has the intent and believes that it has the ability to generate capital gains and minimize tax losses in a manner sufficient to avoid losing the benefits of its deferred tax assets. Management will continue to assess the need for a valuation allowance on a quarterly basis. Although realization is not assured, management believes it is more likely than not that the Company’s deferred tax assets will be realized.
Contingent Liabilities	The Company has known, and may have unknown, potential liabilities which include claims, assessments, lawsuits, or regulatory fines and penalties relating to the Company’s business. The Company continually evaluates these potential liabilities and accrues for them and/or discloses them in the notes to the consolidated financial statements where required. In addition, the Company accrues for anticipated legal defense costs associated with lawsuits, claims or regulatory actions. 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. See Note 18. Commitments and Contingencies, for the required disclosures relating to contingent liabilities.
Reinsurance And Reinsurance Recoverables	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 Portfolio Participation Reinsurance Contract ("Contract") effective through December 31, 2025. The Company reimburses up to $30 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 73.5%. The Company is party to a Catastrophe Reinsurance Treaty ("Treaty") covering a wide range of perils that is effective through June 30, 2025. The Treaty provides $1,290 million of coverage on a per occurrence basis after covered catastrophe losses exceed the $150 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 certain upper layers of coverage, and includes some additional minor territorial and coverage restrictions. The effect of reinsurance on property and casualty premiums written and earned was as follows: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Premiums Written Direct $ 5,474,292 $ 4,531,942 $ 4,018,057 Ceded (138,015) (109,644) (81,256) Assumed 15,489 15,353 10,743 Net $ 5,351,766 $ 4,437,651 $ 3,947,544 Premiums Earned Direct $ 5,167,342 $ 4,339,333 $ 3,993,771 Ceded (136,698) (109,445) (80,950) Assumed 15,455 15,481 10,821 Net $ 5,046,099 $ 4,245,369 $ 3,923,642 The Company recognized ceded premiums earned of approximately $137 million, $109 million, and $81 million in 2024, 2023, and 2022, respectively, which are included in net premiums earned in its consolidated statements of operations, and ceded losses and loss adjustment expenses of approximately $(3) million, $10 million, and $(13) million in 2024, 2023, and 2022, 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 2024 and 2022 were primarily the result of favorable development on certain of prior years' catastrophe losses that had previously been ceded to the Company's reinsurers. 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. Reinsurance recoverables are balances due to the Company from its reinsurers for paid and unpaid losses and loss adjustment expenses. A credit exposure exists with respect to these balances to the extent that any reinsurer is unable to meet its obligations. The Company has established an allowance for uncollectible reinsurance recoverables related to credit risk, and changes in the allowance are presented as a component of losses and loss adjustment expenses in the Company's consolidated statements of operations. The Company reviews the allowance quarterly and adjusts it as necessary to reflect changes in estimates of uncollectible balances. The Company evaluates the financial condition of its reinsurers and monitors concentration risk to minimize its exposure to significant losses from individual reinsurers. The Company attempts to mitigate its credit risk related to reinsurance by entering into reinsurance arrangements with reinsurers that have high credit ratings and by obtaining collateral as necessary. The primary method of obtaining collateral is through letters of credit. Generally, the Company uses a default analysis to estimate uncollectible reinsurance recoverables. The primary components of the default analysis are reinsurance recoverable balances by reinsurer, net of collateral and any liabilities held by the Company subject to a right of offset, and future default factors used to estimate the probability that the reinsurer may be unable to meet its future obligations in full. The determination of the future default factor is based on a historical default factor published by a major rating agency applicable to the particular financial strength rating class. The following table presents a summary of changes in allowance for credit losses on reinsurance recoverables: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Beginning balance $ 12 $ — $ — Provision during the period for expected credit losses (12) 12 — Write-off amounts during the period — — — Recoveries during the period of amounts previously written off — — — Ending balance $ — $ 12 $ —
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 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 Company's phantom stock unit awards are classified as liability awards. The fair value of phantom stock units and compensation expenses associated with such awards are determined based on the market price of the Company's common stock on each reporting date and certain vesting conditions. The Company accounts for forfeitures as they occur in determining the amount of share-based compensation expenses to be recognized in each period. See Note 16. Share-Based Compensation for additional disclosures.
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 $25.2 million, $20.8 million and $18.2 million, with related expenses of approximately $13.4 million, $11.4 million and $11.0 million, for the years ended December 31, 2024, 2023 and 2022, 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 19. 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, 2024 and 2023 was approximately $1.7 million and $1.6 million, respectively.
Allowance for Credit Losses	Financial Instruments - Credit Losses (Topic 326) uses the "expected loss" methodology for recognizing credit losses for financial assets that are not accounted for at fair value through net income. The Company's investment portfolio, excluding accrued investment income, was not affected by Topic 326 as it applies the fair value option to all of its investments. The estimated allowance amounts for credit losses at December 31, 2024 and December 31, 2023 primarily related to premiums receivable. Premiums Receivable The majority of the Company's premiums receivable are short-term in nature and are due within a year, consistent with the policy term of its insurance policies sold. Generally, premiums are collected prior to providing risk coverage, minimizing the Company's exposure to credit risk. The Company monitors the credit risk associated with premiums receivable, taking into consideration the fact that credit risk is reduced by the Company's right to offset unearned premiums against premiums receivable. The Company has established an allowance for uncollectible premiums receivable related to credit risk, and the estimated allowance is reviewed quarterly and adjusted as appropriate based on evaluations of balances due from insureds, management’s experience, historical data, current economic conditions, and reasonable and supportable forecasts of future economic conditions that affect the collectibility of the reported amounts. In estimating an allowance for uncollectible premiums receivable, the Company assesses customer balances and write-offs by state, line of business, and the year the premiums were written. The estimated allowance is based on historical write-off percentages adjusted for the effects of current trends and reasonable and supportable forecasts, as well as expected recoveries of amounts written off. Evaluating the current trends or economic conditions that impact the Company's ability to collect premiums receivable and projecting those into the remaining life of premiums receivable in order to develop a reasonable and supportable forecast of the ultimate collectibility involve significant judgment and assumptions about future economic conditions. The Company monitors the overall credit risk of premiums receivable by regularly reviewing macroeconomic indicators such as trends in unemployment, inflation and interest rates, regulatory developments such as restrictions on cancellation of policies for nonpayment of premiums, and insurance policy specific indicators such as trends in policy cancellations. The following table presents a summary of changes in allowance for credit losses on premiums receivable: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Beginning balance $ 5,300 $ 5,800 $ 6,000 Provision during the period for expected credit losses 3,752 2,819 4,213 Write-off amounts during the period (3,559) (3,879) (5,027) Recoveries during the period of amounts previously written off 907 560 614 Ending balance $ 6,400 $ 5,300 $ 5,800
Accrued Interest Receivables	The Company made certain accounting policy elections for its accrued interest receivables on the adoption date of Topic 326 as allowed: a) an election to present accrued interest receivable balances separately from the associated financial assets on the balance sheet, and b) an election not to measure an allowance for credit losses on accrued interest receivable amounts and instead write off uncollectible accrued interest amounts in a timely manner by reversing interest income. As a general policy, the Company writes off the accrued interest receivable balance when it receives a default notice or when the scheduled interest payment is not received, unless management determines that the default is temporary considering all of the relevant information. The Company believes that for the majority of its investment securities, writing off the uncollectible interest receivable balance within a year from the due date is considered timely. In all cases, the Company writes off the accrued interest receivable immediately if management determines that it is not reasonably expected that the payment will be received. The Company's accrued interest receivable balances are included in accrued investment income receivables in
Recently Issued Accounting Standards	Recently Issued Accounting Standards In November 2024, the Financial Accounting Standards Board ("FASB") issued ASU 2024-03, "Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40)—Disaggregation of Income Statement Expenses." ASU 2024-03 is intended to improve financial reporting by requiring that public business entities disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. Although the amendments in ASU 2024-03 do not change or remove current expense disclosure requirements, they affect where this information appears in the notes to financial statements because entities are required to include certain current disclosures in the same tabular format disclosure as the other disaggregation requirements in the amendments. ASU 2024-03 will be effective for the Company for annual periods beginning January 1, 2027 and interim reporting periods beginning January 1, 2028. The Company is evaluating the presentational effect that ASU 2024-03 will have on its notes to consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures." ASU 2023-09 is intended to enhance the transparency and decision usefulness of income tax disclosures. The amendments in ASU 2023-09 address investor requests for enhanced income tax information primarily through changes to the rate reconciliation and income taxes paid information. ASU 2023-09 will be effective for the Company for annual periods beginning January 1, 2025. The Company is evaluating the presentational effect that ASU 2023-09 will have on its consolidated financial statements and expects presentation changes to its note on income taxes.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2024
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, 2024 2023 2022 (Amounts in millions) Deferred policy acquisition cost amortization $ 858.3 $ 708.5 $ 654.6 Net advertising expense 20.8 8.9 11.8
Effects of Reinsurance	The effect of reinsurance on property and casualty premiums written and earned was as follows: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Premiums Written Direct $ 5,474,292 $ 4,531,942 $ 4,018,057 Ceded (138,015) (109,644) (81,256) Assumed 15,489 15,353 10,743 Net $ 5,351,766 $ 4,437,651 $ 3,947,544 Premiums Earned Direct $ 5,167,342 $ 4,339,333 $ 3,993,771 Ceded (136,698) (109,445) (80,950) Assumed 15,455 15,481 10,821 Net $ 5,046,099 $ 4,245,369 $ 3,923,642
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, 2024 2023 2022 (Amounts in thousands) Beginning balance $ 5,300 $ 5,800 $ 6,000 Provision during the period for expected credit losses 3,752 2,819 4,213 Write-off amounts during the period (3,559) (3,879) (5,027) Recoveries during the period of amounts previously written off 907 560 614 Ending balance $ 6,400 $ 5,300 $ 5,800
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, 2024 2023 2022 (Amounts in thousands) Beginning balance $ 12 $ — $ — Provision during the period for expected credit losses (12) 12 — Write-off amounts during the period — — — Recoveries during the period of amounts previously written off — — — Ending balance $ — $ 12 $ —

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Estimated Fair Values of Financial Instruments	The following table presents the fair values of financial instruments: December 31, 2024 2023 (Amounts in thousands) Assets Investments $ 6,076,370 $ 5,228,520 Notes receivable 31,231 9,974 Liabilities Options sold 213 1,955 Notes payable 566,812 557,710

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2024
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, 2024 2023 2022 (Amounts in thousands) Fixed maturity securities $ 6,566 $ 62,833 $ (260,223) Equity securities 8,352 45,046 (185,694) Short-term investments 909 107 88 Total gains (losses) $ 15,827 $ 107,986 $ (445,829)
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, 2024 2023 2022 (Amounts in thousands) Gross Gross Net Gross Gross Net Gross Gross Net Fixed maturity securities $ 1,067 $ (3,812) $ (2,745) $ 1,783 $ (3,246) $ (1,463) $ 863 $ (71,425) $ (70,562) Equity securities 96,927 (33,857) 63,070 76,844 (91,109) (14,265) 86,168 (61,252) 24,916 Short-term investments 13 (727) (714) — (4) (4) 8 (2,500) (2,492)
Estimated Fair Values Of Investments	The following table presents the estimated fair values of the Company's fixed maturity securities at December 31, 2024 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 $ 245,282 Due after one year through five years 1,121,053 Due after five years through ten years 994,491 Due after ten years 2,552,552 Total $ 4,913,378
Investment Income	The following table presents a summary of net investment income: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Fixed maturity securities $ 207,798 $ 173,167 $ 127,336 Equity securities 43,107 44,223 43,495 Cash and Short-term investments 37,712 23,741 3,495 Total investment income $ 288,617 $ 241,131 $ 174,326 Less: investment expense (8,628) (6,501) (5,970) Net investment income $ 279,989 $ 234,630 $ 168,356

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	12 Months Ended
	Dec. 31, 2024
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, 2024 Level 1 Level 2 Level 3 Total (Amounts in thousands) Assets Fixed maturity securities: U.S. government bonds and agencies $ 75,874 $ 17,963 $ — $ 93,837 Municipal securities — 2,987,054 — 2,987,054 Mortgage-backed securities — 259,421 — 259,421 Corporate securities — 841,715 — 841,715 Collateralized loan obligations — 626,255 — 626,255 Other asset-backed securities — 105,096 — 105,096 Total fixed maturity securities 75,874 4,837,504 — 4,913,378 Equity securities: Common stock 741,369 — — 741,369 Non-redeemable preferred stock — 42,603 — 42,603 Private equity funds measured at net asset value (1) 95,203 Total equity securities 741,369 42,603 — 879,175 Short-term investments: Short-term bonds — 1,655 — 1,655 Money market instruments 282,141 — — 282,141 Other 21 — — 21 Total short-term investments 282,162 1,655 — 283,817 Other assets: Notes receivable — 31,231 — 31,231 Total assets at fair value $ 1,099,405 $ 4,912,993 $ — $ 6,107,601 Liabilities Other liabilities: Options sold 213 — — 213 Total liabilities at fair value $ 213 $ — $ — $ 213 December 31, 2023 Level 1 Level 2 Level 3 Total (Amounts in thousands) Assets Fixed maturity securities: U.S. government bonds and agencies $ 123,182 $ 51,268 $ — $ 174,450 Municipal securities — 2,777,258 — 2,777,258 Mortgage-backed securities — 186,887 — 186,887 Corporate securities — 599,630 — 599,630 Collateralized debt obligations — 484,947 — 484,947 Other asset-backed securities — 96,164 — 96,164 Total fixed maturity securities 123,182 4,196,154 — 4,319,336 Equity securities: Common stock 597,888 — — 597,888 Non-redeemable preferred stock — 51,563 — 51,563 Private equity funds measured at net asset value (1) 81,242 Total equity securities 597,888 51,563 — 730,693 Short-term investments: Short-term bonds 12,015 1,838 — 13,853 Money market instruments 164,595 — — 164,595 Other 43 — — 43 Total short-term investments 176,653 1,838 — 178,491 Other assets: Note receivable $ — $ 9,974 $ — $ 9,974 Total assets at fair value $ 897,723 $ 4,259,529 $ — $ 5,238,494 Liabilities Other liabilities: Options sold 1,955 — — 1,955 Total liabilities at fair value $ 1,955 $ — $ — $ 1,955 __________ (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.
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, 2024 Carrying Value Fair Value Level 1 Level 2 Level 3 (Amounts in thousands) Liabilities Notes payable: Unsecured notes $ 374,128 $ 367,504 $ — $ 367,504 $ — Unsecured credit facility 200,000 199,308 — 199,308 — Total $ 574,128 $ 566,812 $ — $ 566,812 $ — December 31, 2023 Carrying Value Fair Value Level 1 Level 2 Level 3 (Amounts in thousands) Liabilities Notes payable: Unsecured notes $ 373,729 $ 357,765 $ — $ 357,765 $ — Unsecured credit facility 200,000 199,945 — 199,945 — Total $ 573,729 $ 557,710 $ — $ 557,710 $ —

Fixed Assets (Tables)

Fixed Assets (Tables)	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule Of Fixed Assets	The following table presents the components of fixed assets: December 31, 2024 2023 (Amounts in thousands) Land $ 6,665 $ 9,713 Buildings and improvements 35,602 65,408 Furniture and equipment 29,291 31,073 Capitalized software 386,116 344,654 Leasehold improvements 1,957 2,892 459,631 453,740 Less: accumulated depreciation and amortization (321,454) (302,557) Fixed assets, net $ 138,177 $ 151,183

Deferred Policy Acquisition C_2

Deferred Policy Acquisition Costs (Tables)	12 Months Ended
	Dec. 31, 2024
Deferred Policy Acquisition Costs Disclosures [Abstract]
Schedule Of Deferred Policy Acquisition Costs	Deferred policy acquisition costs were as follows: December 31, 2024 2023 2022 (Amounts in thousands) Balance, beginning of year $ 293,844 $ 266,475 $ 258,259 Policy acquisition costs deferred 899,749 735,894 662,828 Amortization (858,261) (708,525) (654,612) Balance, end of year $ 335,332 $ 293,844 $ 266,475

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2024
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 2024 2023 2022 (Amounts in thousands) Operating lease cost (1) Other operating expenses $ 9,834 $ 11,687 $ 14,747 Finance lease cost: Amortization of assets Other operating expenses 1,585 1,241 1,288 Interest on lease liabilities Interest expense 126 40 54 Variable lease cost (1) Other operating expenses 403 1,100 2,184 Sublease income (2) Other revenue (469) (799) (492) Net lease cost $ 11,479 $ 13,269 $ 17,781 __________ (1) Includes short-term leases, which are immaterial. (2) The Company subleased certain leased office space to third parties in 2024, 2023 and 2022. Weighted-average lease term and discount rate were as follows: December 31, 2024 2023 Weighted-average remaining lease term (in years): Operating leases 2.9 2.6 Finance leases 2.4 2.5 Weighted-average discount rate: Operating leases 5.68 % 4.37 % Finance leases 2.54 % 1.37 % Supplemental cash flow and other information related to leases was as follows: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9,485 $ 14,023 $ 15,815 Operating cash flows from finance leases 68 41 54 Financing cash flows from finance leases 1,533 1,102 1,504 ROU assets obtained in exchange for lease liabilities: Operating leases 6,924 6,587 4,677 Finance leases — — 1,951
Assets And Liabilities, Lease	on the Company's consolidated balance sheets were as follows: December 31, Lease Assets and Liabilities Classification 2024 2023 (Amounts in thousands) Operating lease assets Operating lease right-of-use assets $ 13,407 $ 14,406 Operating lease liabilities Operating lease liabilities 13,580 14,231 Finance lease assets Other assets 2,966 2,996 Finance lease liabilities Other liabilities 2,521 2,841
Lessee, Operating Lease, Liability, Maturity	Maturities of lease liabilities as of December 31, 2024 were as follows: Year Operating Leases Finance Leases (Amounts in thousands) 2025 $ 6,229 $ 1,413 2026 4,368 785 2027 2,485 381 2028 1,184 — 2029 514 — 2030 and thereafter $ 207 $ — Total lease payments $ 14,987 $ 2,579 Less: Imputed interest 1,407 58 Total lease obligations $ 13,580 $ 2,521

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2024
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 2024 2023 (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, Wells Fargo Bank, BMO Bank, and U.S. Bank Term SOFR plus 112.5-150.0 basis points November 18, 2027 200,000 200,000 Total principal amount 575,000 575,000 Less unamortized discount and debt issuance costs (3) 872 1,271 Total $ 574,128 $ 573,729 __________ (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 amounts outstanding under the existing loan and credit facilities and 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 31, 2021, the Company entered into an unsecured $75 million five-year revolving credit facility. On November 18, 2022, the Company entered into the First Amendment to this credit facility. The First Amendment extended the maturity date of the loan to November 16, 2026 from March 31, 2026 with possible further extension if certain conditions are met, increased the aggregate commitments by all the lenders to $200 million from $75 million, and replaced the LIBOR with the term SOFR. On November 30, 2023, the Company entered into the Second Amendment to this credit facility, which further increased the aggregate commitments by all the lenders to $250 million from $200 million. On November 22, 2024, the Company entered into the Third Amendment to this credit facility, which extended and fixed the maturity date of the loan to November 18, 2027. The interest rates on borrowings under the credit facility are based on the Company's debt to total capital ratio and range from Term SOFR plus 112.5 basis points when the ratio is under 20% to Term SOFR plus 150.0 basis points when the ratio is greater than or equal to 30%. Commitment fees for the undrawn portions of the credit facility range from 12.5 basis points when the ratio is under 20% to 22.5 basis points when the ratio is greater than or equal to 30%. 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 22.8% at December 31, 2024, resulting in a 15.0 basis point commitment fee on any undrawn portion of the credit facility. As of February 11, 2025, a total of $200 million was drawn under this facility on a three-month revolving basis at an annual interest rate of approximately 5.79%, with $50 million available to be drawn. The Company contributed $150 million of the total amount drawn to the surplus of its consolidated insurance subsidiaries, and used the remainder for general corporate purposes. (3)
Schedule of Maturities of Long-term Debt	Debt maturities for each of the next five years and thereafter as of December 31, 2024 are as follows: Maturity Amounts (in thousands) 2025 $ — 2026 — 2027 575,000 2028 — 2029 — Thereafter — Total $ 575,000

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2024
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 in the consolidated statements of operations: Liability Derivatives December 31, 2024 December 31, 2023 (Amounts in thousands) Options sold - Other liabilities $ 213 $ 1,955 Total derivatives $ 213 $ 1,955
Schedule Of Derivative Gains And Losses In The Consolidated Statements Of Operations	Gains Recognized in Income Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Options sold - Net realized investment gains (losses) $ 13,395 $ 8,586 $ 5,887 Total $ 13,395 $ 8,586 $ 5,887

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2024
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, 2024 Customer relationships $ 55,107 $ (53,958) $ 1,149 10 Trade names 15,400 (10,267) 5,133 24 Technology 4,300 (4,300) — 10 Insurance license 1,400 — 1,400 Indefinite Total intangible assets, net $ 76,207 $ (68,525) $ 7,682 As of December 31, 2023 Customer relationships $ 54,862 $ (53,704) $ 1,158 11 Trade names 15,400 (9,625) 5,775 24 Technology 4,300 (4,300) — 10 Insurance license 1,400 — 1,400 Indefinite Total intangible assets, net $ 75,962 $ (67,629) $ 8,333
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, 2024: Year Ending December 31, Amortization Expense (Amounts in thousands) 2025 $ 856 2026 856 2027 856 2028 856 2029 811 Thereafter 2,047 Total $ 6,282

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]
Schedule of Income before Income Tax, Domestic and Foreign	The Company's income (loss) before provision for income taxes consisted of the following: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Domestic $ 574,756 $ 99,428 $ (670,715) Foreign 124 — — Income (loss) before provision for income taxes $ 574,880 $ 99,428 $ (670,715)
Components Of Income Tax Expense	The income tax expense (benefit) consisted of the following components: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Federal Current $ 119,900 $ (3,840) $ (62,355) Deferred (14,617) 10,523 (93,562) $ 105,283 $ 6,683 $ (155,917) State Current $ (138) $ (2,958) $ 784 Deferred 1,776 (633) (2,910) $ 1,638 $ (3,591) $ (2,126) Foreign Current $ 6 $ — $ — Deferred — — — $ 6 $ — $ — Total Current $ 119,768 $ (6,798) $ (61,571) Deferred (12,841) 9,890 (96,472) Total $ 106,927 $ 3,092 $ (158,043)
Reconciliation Of Income Taxes	The following table presents a reconciliation of the tax expense based on the statutory rate of 21% for 2024, 2023 and 2022 to the Company's actual tax expense in the consolidated statements of operations: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Computed tax expense (benefit) at 21% $ 120,725 $ 20,880 $ (140,850) Tax-exempt interest income (13,114) (13,640) (11,864) Dividends received deduction (1,276) (1,237) (1,364) State tax expense (benefit) 1,098 (3,539) (1,597) Nondeductible expenses 815 639 279 Other, net (1,321) (11) (2,647) Income tax expense (benefit) $ 106,927 $ 3,092 $ (158,043)
Deferred Tax Assets And Liabilities	The following table presents the significant components of the Company’s net deferred tax assets and liabilities: December 31, 2024 2023 (Amounts in thousands) Deferred tax assets: 20% of net unearned premiums $ 88,940 $ 75,394 Discounting of loss reserves and salvage and subrogation recoverable for tax purposes 30,734 25,340 Expense accruals 19,821 11,262 Tax asset on net unrealized loss on securities carried at fair value — 166 Other deferred tax assets 4,371 8,743 Total gross deferred tax assets 143,866 120,905 Deferred tax liabilities: Deferred policy acquisition costs (70,420) (61,707) Tax liability on net unrealized gain on securities carried at fair value (3,253) — Tax depreciation in excess of book depreciation (2,549) (6,801) Undistributed earnings of insurance subsidiaries (2,731) (1,511) Tax amortization in excess of book amortization (8,769) (8,904) Other deferred tax liabilities (10,290) (8,969) Total gross deferred tax liabilities (98,012) (87,892) Net deferred tax assets $ 45,854 $ 33,013
Schedule of Unrecognized Tax Benefits Roll Forward	The following table presents a reconciliation of the beginning and ending balances of unrecognized tax benefits: December 31, 2024 2023 (Amounts in thousands) Balance at January 1 $ 2,262 $ 4,380 Additions (reductions) based on tax positions related to: Current year — — Prior years (2,262) (2,118) Balance at December 31 $ — $ 2,262

Loss And Loss Adjustment Expe_2

Loss And Loss Adjustment Expense Reserves (Tables)	12 Months Ended
	Dec. 31, 2024
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, 2024 2023 2022 (Amounts in thousands) Gross reserves at January 1 $ 2,785,702 $ 2,584,910 $ 2,226,430 Reinsurance recoverables on unpaid losses (32,148) (25,323) (41,379) Net reserves at January 1 2,753,554 2,559,587 2,185,051 Incurred losses and loss adjustment expenses related to: Current year 3,659,724 3,553,801 3,314,938 Prior years 24,787 (35,948) 47,281 Total incurred losses and loss adjustment expenses 3,684,511 3,517,853 3,362,219 Loss and loss adjustment expense payments related to: Current year 1,963,076 2,080,690 1,862,006 Prior years 1,351,603 1,243,196 1,125,677 Total payments 3,314,679 3,323,886 2,987,683 Net reserves at December 31 3,123,386 2,753,554 2,559,587 Reinsurance recoverables on unpaid losses 28,645 32,148 25,323 Gross reserves at December 31 $ 3,152,031 $ 2,785,702 $ 2,584,910
Incurred and Paid Claims Development	The information about incurred and paid claims development for the years ended December 31, 2015 to 2023 is presented as unaudited supplementary information. Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance (Private Passenger and Commercial Automobile Insurance) As of December 31, 2024 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, 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (1) 2020 (1) 2021 (1) 2022 (1) 2023 (1) 2024 (Amounts in thousands) (Amounts in thousands) 2015 $ 1,551,105 $ 1,588,443 $ 1,610,839 $ 1,634,435 $ 1,645,950 $ 1,649,170 $ 1,653,878 $ 1,654,843 $ 1,655,267 $ 1,654,800 $ 335 170 2016 1,672,853 1,669,642 1,713,696 1,731,997 1,732,410 1,740,807 1,743,417 1,745,513 1,744,803 1,974 155 2017 1,703,857 1,727,277 1,741,825 1,733,425 1,748,289 1,755,702 1,754,356 1,753,163 2,368 149 2018 1,781,817 1,773,502 1,785,071 1,806,240 1,807,297 1,811,302 1,814,240 7,291 147 2019 1,916,269 1,911,268 1,959,262 1,954,151 1,951,924 1,948,995 11,185 148 2020 1,514,551 1,448,083 1,452,343 1,430,973 1,419,119 15,497 91 2021 1,811,064 1,879,751 1,854,319 1,834,183 40,221 105 2022 2,255,032 2,264,193 2,262,432 103,677 116 2023 2,349,659 2,398,449 276,766 107 2024 2,420,766 791,846 91 Total $ 19,250,950 __________ (1) The information for the years 2015 to 2023 is presented as unaudited supplemental information. Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance (Private Passenger and Commercial Automobile Insurance) For the Years Ended December 31, Accident Year 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (1) 2020 (1) 2021 (1) 2022 (1) 2023 (1) 2024 (Amounts in thousands) 2015 $ 1,040,253 $ 1,336,223 $ 1,466,368 $ 1,560,480 $ 1,614,188 $ 1,634,780 $ 1,643,443 $ 1,651,465 $ 1,654,069 $ 1,654,360 2016 1,094,006 1,395,199 1,554,217 1,656,192 1,699,069 1,722,293 1,736,697 1,740,902 1,741,949 2017 1,076,079 1,399,202 1,561,850 1,648,328 1,701,298 1,733,196 1,746,147 1,750,074 2018 1,082,127 1,417,637 1,588,049 1,697,228 1,757,923 1,784,876 1,799,373 2019 1,134,859 1,494,342 1,698,121 1,828,410 1,896,186 1,925,074 2020 825,398 1,089,096 1,242,000 1,328,686 1,375,466 2021 992,705 1,410,748 1,599,756 1,717,524 2022 1,237,725 1,743,364 1,984,312 2023 1,313,944 1,835,079 2024 1,232,949 Total $ 17,016,160 All outstanding liabilities before 2015, net of reinsurance (560) Loss and allocated loss adjustment expense reserves, net of reinsurance $ 2,234,230 __________ (1) The information for the years 2015 to 2023 is presented as unaudited supplemental information. Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance (Homeowners Insurance) As of December 31, 2024 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, 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (1) 2020 (1) 2021 (1) 2022 (1) 2023 (1) 2024 (Amounts in thousands) (Amounts in thousands) 2015 $ 234,800 $ 234,881 $ 233,501 $ 236,855 $ 238,652 $ 239,941 $ 240,927 $ 237,872 $ 237,994 $ 237,701 $ 60 24 2016 250,691 259,489 259,497 259,708 260,496 259,984 259,722 259,701 260,179 16 24 2017 309,491 295,163 288,322 289,869 289,294 291,360 290,909 291,804 4 30 2018 311,798 308,361 310,695 305,292 306,347 308,345 306,857 572 25 2019 359,643 366,139 361,421 360,609 360,140 362,401 1,427 30 2020 420,257 411,404 413,882 411,408 411,127 4,213 29 2021 510,724 511,311 504,086 501,214 7,556 31 2022 578,489 562,562 567,123 16,682 31 2023 717,988 709,918 34,859 41 2024 730,818 161,375 29 Total $ 4,379,142 __________ (1) The information for the years 2015 to 2023 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 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (1) 2020 (1) 2021 (1) 2022 (1) 2023 (1) 2024 (Amounts in thousands) 2015 $ 163,196 $ 213,994 $ 224,178 $ 230,480 $ 234,683 $ 235,971 $ 236,143 $ 236,983 $ 237,651 $ 237,468 2016 173,537 234,215 245,878 253,919 256,642 258,477 259,045 259,875 260,095 2017 217,900 269,254 278,341 283,311 286,531 290,291 290,984 291,595 2018 213,038 271,534 286,658 294,099 300,742 303,053 305,175 2019 240,240 324,953 340,237 350,288 355,697 359,466 2020 271,208 365,910 386,297 395,412 401,079 2021 316,314 458,124 473,644 485,001 2022 339,242 501,075 530,772 2023 474,713 636,330 2024 449,119 Total $ 3,956,100 All outstanding liabilities before 2015, net of reinsurance 1,179 Loss and allocated loss adjustment expense reserves, net of reinsurance $ 424,221 __________ (1) The information for the years 2015 to 2023 is presented as unaudited supplemental information. Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance (Commercial Property Insurance) As of December 31, 2024 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, 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (1) 2020 (1) 2021 (1) 2022 (1) 2023 (1) 2024 (Amounts in thousands) (Amounts in thousands) 2015 $ 33,015 $ 34,932 $ 36,641 $ 37,197 $ 37,052 $ 37,632 $ 38,822 $ 39,749 $ 40,490 $ 40,312 $ 38 1 2016 38,639 41,827 46,349 45,665 46,170 55,746 56,479 53,687 51,796 158 1 2017 46,410 50,378 53,829 55,288 57,658 59,800 64,645 63,207 1,312 1 2018 43,859 45,610 42,587 44,452 47,141 47,799 46,474 849 1 2019 45,574 42,756 43,167 46,845 51,677 51,721 1,744 1 2020 56,319 46,663 42,968 50,634 49,630 3,732 1 2021 58,413 55,863 73,289 78,371 15,537 1 2022 75,113 83,086 95,927 22,328 1 2023 80,150 82,778 31,451 1 2024 97,285 51,540 — Total $ 657,501 __________ (1) The information for the years 2015 to 2023 is presented as unaudited supplemental information. Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance (Commercial Property Insurance) For the Years Ended December 31, Accident Year 2015 (1) 2016 (1) 2017 (1) 2018 (1) 2019 (1) 2020 (1) 2021 (1) 2022 (1) 2023 (1) 2024 (Amounts in thousands) 2015 $ 17,110 $ 26,226 $ 30,703 $ 33,287 $ 34,836 $ 36,262 $ 38,064 $ 39,520 $ 40,087 $ 40,170 2016 18,243 27,210 35,426 39,499 41,221 46,026 48,036 49,190 50,579 2017 18,910 31,116 36,284 43,809 47,597 52,350 60,803 60,980 2018 16,266 24,146 29,436 34,520 37,428 41,376 43,527 2019 15,182 25,956 30,592 35,780 40,056 45,886 2020 19,529 27,705 31,138 37,130 40,713 2021 24,032 33,477 41,432 54,763 2022 25,699 44,304 58,455 2023 22,119 32,384 2024 17,183 Total $ 444,640 All outstanding liabilities before 2015, net of reinsurance 205 Loss and allocated loss adjustment expense reserves, net of reinsurance $ 213,066 __________ (1) The information for the years 2015 to 2023 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, 2024. Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance Years 1 2 3 4 5 6 7 8 9 10 Private Passenger and Commercial Automobile insurance 57.8 % 19.6 % 9.7 % 6.0 % 3.1 % 1.5 % 0.7 % 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 66.3 % 23.0 % 4.3 % 2.4 % 1.5 % 0.9 % 0.3 % 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 Commercial Property insurance 31.3 % 17.5 % 10.9 % 10.9 % 5.8 % 8.0 % 6.6 % 2.0 % 2.0 % 0.2 %
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, 2024 (Amounts in thousands) Net outstanding liabilities Private Passenger and Commercial Automobile insurance $ 2,234,230 Homeowners insurance 424,221 Commercial Property insurance 213,066 Other short-duration insurance lines 98,949 Loss and loss adjustment expense reserves, net of reinsurance recoverables on unpaid losses 2,970,466 Reinsurance recoverables on unpaid losses Private Passenger and Commercial Automobile insurance 26,499 Homeowners insurance 1,273 Commercial Property insurance 392 Other short-duration insurance lines 481 Total reinsurance recoverables on unpaid losses 28,645 Insurance lines other than short-duration 1,114 Unallocated claims adjustment expenses 151,806 152,920 Total gross loss and loss adjustment expense reserves $ 3,152,031

Dividends (Tables)

Dividends (Tables)	12 Months Ended
	Dec. 31, 2024
Dividends [Abstract]
Shareholder Dividends Paid	The following table presents shareholder dividends paid: Year Ended December 31, 2024 2023 2022 (Amounts in thousands, except per share data) Total paid $ 70,326 $ 70,322 $ 105,482 Per share paid $ 1.2700 $ 1.2700 $ 1.9050

Statutory Balances and Accoun_2

Statutory Balances and Accounting Practices (Tables)	12 Months Ended
	Dec. 31, 2024
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, 2024 2023 2022 (Amounts in thousands) Statutory net income (loss) (1) $ 446,405 $ (35,590) $ (184,292) Statutory capital and surplus $ 2,030,460 $ 1,667,187 $ 1,502,424 __________ (1) Statutory net income (loss) reflects differences from GAAP net income (loss), 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, 2024
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 benefit, related to the Company's share-based awards: Year Ended December 31, 2024 2023 2022 (Amounts in thousands) Cash received from stock option exercises $ 752 $ — $ — Compensation cost, all share-based awards 4,648 — 15 Excess tax benefit, all share-based awards (87) — (1)
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, 2024: Shares Weighted-Average Outstanding at January 1, 2024 17,500 $ 43.01 Exercised (17,500) $ 43.01 Canceled or expired — $ — Outstanding at December 31, 2024 — $ — Exercisable at December 31, 2024 — $ —
Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award	The following table presents the summary of the performance-based PSU grants as of December 31, 2024: Grant year 2024 Three-year performance period ending December 31, 2026 Vesting shares, target (net of forfeited) 197,516 Vesting shares, maximum (net of forfeited) 296,274
Share-Based Payment Arrangement, Performance Shares, Activity	The following table presents a summary of performance-based PSU awards activity, based on target vesting, during 2024: Shares Weighted- Outstanding at January 1 — $ — Granted 200,532 $ 39.12 Vested — $ — Forfeited/Canceled (3,016) $ 59.80 Expired — $ — Outstanding at December 31 197,516 $ 66.48
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity	The following table presents a summary of restricted PSU awards activity during 2024: Shares Weighted- Outstanding at January 1 — $ — Granted 36,315 $ 61.67 Vested — $ — Forfeited/Canceled (726) $ 62.98 Expired — $ — Outstanding at December 31 35,589 $ 66.48

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	12 Months Ended
	Dec. 31, 2024
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 (loss) per share calculations: Year Ended December 31, 2024 2023 2022 Net Income Weighted Average Per-Share Net Income Weighted Average Per-Share Net Loss Weighted Average Per-Share (Amounts and numbers in thousands, except per-share data) Basic EPS Income (loss) available to common stockholders $ 467,953 55,373 $ 8.45 $ 96,336 55,371 $ 1.74 $ (512,672) 55,371 $ (9.26) Effect of dilutive securities: Options — 4 — — — — Diluted EPS Income (loss) available to common stockholders after assumed conversions $ 467,953 55,377 $ 8.45 $ 96,336 55,371 $ 1.74 $ (512,672) 55,371 $ (9.26)

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2024
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, 2024 2023 2022 Property & Casualty Other Total Property & Casualty Other Total Property & Casualty Other Total (Amounts in millions) Net premiums earned $ 5,046.1 $ 29.4 $ 5,075.5 $ 4,245.4 $ 29.0 $ 4,274.4 $ 3,923.6 $ 28.9 $ 3,952.5 Less: Losses 3,156.4 14.9 3,171.3 3,019.4 13.7 3,033.1 2,851.3 13.1 2,864.4 Loss adjustment expenses 511.3 1.9 513.2 482.8 2.0 484.8 495.9 1.9 497.8 Losses and loss adjustment expenses 3,667.7 16.8 3,684.5 3,502.2 15.7 3,517.9 3,347.2 15.0 3,362.2 Policy acquisition costs 846.6 11.7 858.3 696.9 11.6 708.5 645.5 9.1 654.6 Other operating expenses 324.1 3.1 327.2 276.6 3.1 279.7 276.5 3.2 279.7 Underwriting gain (loss) 207.7 (2.2) 205.5 (230.3) (1.4) (231.7) (345.6) 1.6 (344.0) Investment income 280.0 234.6 168.4 Net realized investment gains (losses) 88.7 101.0 (488.1) Other income 31.5 19.7 10.2 Interest expense (30.8) (24.2) (17.2) Pre-tax income (loss) $ 574.9 $ 99.4 $ (670.7) Net income (loss) $ 468.0 $ 96.3 $ (512.7)
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, 2024 2023 2022 Property & Casualty Other Total Property & Casualty Other Total Property & Casualty Other Total (Amounts in millions) Private passenger automobile $ 3,278.5 $ — $ 3,278.5 $ 2,796.1 $ — $ 2,796.1 $ 2,655.7 $ — $ 2,655.7 Homeowners 1,168.7 — 1,168.7 957.7 — 957.7 830.6 — 830.6 Commercial automobile 378.2 — 378.2 303.9 — 303.9 267.9 — 267.9 Other 220.7 29.4 250.1 187.7 29.0 216.7 169.4 28.9 198.3 Net premiums earned $ 5,046.1 $ 29.4 $ 5,075.5 $ 4,245.4 $ 29.0 $ 4,274.4 $ 3,923.6 $ 28.9 $ 3,952.5 Private passenger automobile $ 3,395.8 $ — $ 3,395.8 $ 2,841.8 $ — $ 2,841.8 $ 2,598.9 $ — $ 2,598.9 Homeowners 1,367.3 — 1,367.3 1,119.0 — 1,119.0 940.3 — 940.3 Commercial automobile 387.0 — 387.0 346.2 — 346.2 276.8 — 276.8 Other 324.2 26.5 350.7 224.9 26.6 251.5 202.1 30.4 232.5 Direct premiums written $ 5,474.3 $ 26.5 $ 5,500.8 $ 4,531.9 $ 26.6 $ 4,558.5 $ 4,018.1 $ 30.4 $ 4,048.5

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details)	12 Months Ended
	Dec. 31, 2024 USD ($) Subsidiary State	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of insurance companies | Subsidiary	12
Number of states in which company operates | State	11
Percentage of direct premiums written as private passenger automobile lines of insurance	61%	61%	61%
Percentage of private passenger automobile premiums written in California	84%	82%	82%
Other comprehensive income (loss)	$ 0	$ 0	$ 0
Percentage of portfolio of unadjusted fair values obtained	98.40%
Percentage by which dividend income on non redeemable preferred stock, partnership, common stock is partially tax-sheltered	50%
Insurance companies security deposits	$ 15,000,000	15,000,000
Impairment charges	0	0	0
Goodwill and other intangible asset impairment	0	0
Net premiums written	5,380,000,000	4,460,000,000	3,980,000,000
Reinsurance reimbursable amount	$ 30,000,000
Reinsurance retention policy, threshold loss ratio	73.50%
Reinsurance policy, coverage per occurrence after retention limit	$ 1,290,000,000
Reinsurance policy, retention limit	150,000,000
Ceded premiums earned	136,698,000	109,445,000	80,950,000
Losses and loss adjustment expenses, assumed and ceded	$ (3,000,000)	10,000,000	(13,000,000)
Vesting term (in years)	4 years
Revenue from contract with customer	$ 25,200,000	20,800,000	18,200,000
Cost of goods and services sold	13,400,000	11,400,000	11,000,000
Commission income receivable	1,700,000	1,600,000
Refund liability	1,100,000	1,000,000
Contract with customer, asset	0	0
Contract with customer, liability	0	0
Revenue, remaining performance obligation	0	0
Capitalized contract cost, net	0	200,000
Capitalized contract cost, accumulated amortization	5,700,000	5,500,000
Capitalized contract cost, amortization	$ 200,000	900,000	$ 2,800,000
Software
Summary Of Significant Accounting Policies [Line Items]
Useful life (in years)	7 years
Maximum | Building
Summary Of Significant Accounting Policies [Line Items]
Useful life (in years)	40 years
Maximum | Furniture Equipment And Purchase Software
Summary Of Significant Accounting Policies [Line Items]
Useful life (in years)	7 years
Minimum | Furniture Equipment And Purchase Software
Summary Of Significant Accounting Policies [Line Items]
Useful life (in years)	3 years
Private Equity Funds
Summary Of Significant Accounting Policies [Line Items]
Unfunded commitments	$ 5,000,000	$ 8,000,000

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, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Deferred policy acquisition cost amortization	$ 858,261	$ 708,525	$ 654,612
Net advertising expense	$ 20,800	$ 8,900	$ 11,800

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Effects of Reinsurance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Premiums Written
Net	$ 5,380,000	$ 4,460,000	$ 3,980,000
Premiums Earned
Direct	5,196,699	4,368,342	4,022,611
Ceded	(136,698)	(109,445)	(80,950)
Assumed	15,455	15,481	10,821
Net	5,075,456	4,274,378	3,952,482
Property & Casualty
Premiums Written
Direct	5,474,292	4,531,942	4,018,057
Ceded	(138,015)	(109,644)	(81,256)
Assumed	15,489	15,353	10,743
Net	5,351,766	4,437,651	3,947,544
Premiums Earned
Direct	5,167,342	4,339,333	3,993,771
Ceded	(136,698)	(109,445)	(80,950)
Assumed	15,455	15,481	10,821
Net	$ 5,046,099	$ 4,245,369	$ 3,923,642

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, 2024	Dec. 31, 2023	Dec. 31, 2022
Premium Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 5,300	$ 5,800	$ 6,000
Provision during the period for expected credit losses	3,752	2,819	4,213
Write-off amounts during the period	(3,559)	(3,879)	(5,027)
Recoveries during the period of amounts previously written off	907	560	614
Ending balance	$ 6,400	$ 5,300	$ 5,800

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, 2024	Dec. 31, 2023	Dec. 31, 2022
Reinsurance Recoverable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 12	$ 0	$ 0
Provision during the period for expected credit losses	(12)	12	0
Write-off amounts during the period	0	0	0
Recoveries during the period of amounts previously written off	0	0	0
Ending balance	$ 0	$ 12	$ 0

Financial Instruments - Estimat

Financial Instruments - Estimated Fair Values Of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets
Notes receivable	$ 31,231	$ 9,974
Investments
Assets
Assets	6,076,370	5,228,520
Fair Value, Measurements, Recurring
Assets
Notes receivable	31,231	9,974
Liabilities
Options sold	213	1,955
Notes payable	566,812	557,710
Fair Value, Measurements, Recurring | Options sold
Liabilities
Options sold	$ 213	$ 1,955

Financial Instruments - Narrati

Financial Instruments - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Unsecured Notes Two | Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Drawn down amount under credit facility		$ 200	$ 200
Brea, California Office Building | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Sale price of fixed asset		31.5
Promissory note received from sale of fixed asset		$ 21.4
Clearwater, Florida Office Building | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Sale price of fixed asset	$ 19.6
Promissory note received from sale of fixed asset	$ 9.8
Promissory Note
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate (in percent)	7%	7%
Promissory note, term (in years)	4 years	4 years
Unsecured notes | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured notes		$ 375	$ 375

Investments - Gains (Losses) Du

Investments - Gains (Losses) Due To Changes In Fair Value Of Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Fixed maturity securities
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Total gains (losses)	$ 6,566	$ 62,833	$ (260,223)
Equity securities
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Total gains (losses)	8,352	45,046	(185,694)
Short-term investments
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Total gains (losses)	909	107	88
Investments
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Total gains (losses)	$ 15,827	$ 107,986	$ (445,829)

Investments - Gross Gains (Loss

Investments - Gross Gains (Losses) Realized On Sales Of Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Fixed maturity securities
Gross Realized Gains	$ 1,067	$ 1,783	$ 863
Gross Realized Losses	(3,812)	(3,246)	(71,425)
Net	(2,745)	(1,463)	(70,562)
Equity securities
Gross Realized Gains	96,927	76,844	86,168
Gross Realized Losses	(33,857)	(91,109)	(61,252)
Net	63,070	(14,265)	24,916
Short-term investments
Gross Realized Gains	13	0	8
Gross Realized Losses	(727)	(4)	(2,500)
Net	$ (714)	$ (4)	$ (2,492)

Investments - Narrative (Detail

Investments - Narrative (Details)	12 Months Ended
	Dec. 31, 2024
External credit rating, non investment grade
Investments [Line Items]
Percentage of fixed maturities	1.10%

Investments - Estimated Fair Va

Investments - Estimated Fair Value Of Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Fixed maturity securities:
Due in one year or less	$ 245,282
Due after one year through five years	1,121,053
Due after five years through ten years	994,491
Due after ten years	2,552,552
Total	$ 4,913,378	$ 4,319,336

Investments - Investment Income

Investments - Investment Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Investments [Line Items]
Total investment income	$ 288,617	$ 241,131	$ 174,326
Less: investment expense	(8,628)	(6,501)	(5,970)
Net investment income	279,989	234,630	168,356
Fixed maturity securities
Investments [Line Items]
Total investment income	207,798	173,167	127,336
Equity securities
Investments [Line Items]
Total investment income	43,107	44,223	43,495
Short-term investments
Investments [Line Items]
Total investment income	$ 37,712	$ 23,741	$ 3,495

Fair Value Measurement - Narrat

Fair Value Measurement - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Percentage of portfolio of unadjusted fair values obtained	98.40%
Three private equity funds using NAV	$ 90,700,000
Transfers between Levels 1, 2, and 3 of the fair value hierarchy	0	$ 0
Fair Value, Nonrecurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, fair value disclosure	0	0
Liabilities, fair value disclosure	0	0
Unsecured Notes Two | Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Drawn down amount under credit facility	$ 200,000,000	200,000,000
Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value, liquidating investment, remaining period	1 year
Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value, liquidating investment, remaining period	8 years
Venture Capital Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
One private equity fund using NAV	$ 4,500,000
Private Equity Funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unfunded commitments	5,000,000	8,000,000
Level 2 | Unsecured notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured notes	375,000,000	375,000,000
Level 2 | Commercial Mortgage Back Securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, trading, and equity securities, FV-NI	$ 16,000,000	$ 33,000,000

Fair Value Measurement - Schedu

Fair Value Measurement - Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Valuation Techniques (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	$ 4,913,378	$ 4,319,336
Total equity securities	879,175	730,693
Notes receivable	31,231	9,974
Fair Value, Measurements, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	4,913,378	4,319,336
Total equity securities	879,175	730,693
Total short-term investments	283,817	178,491
Notes receivable	31,231	9,974
Total assets at fair value	6,107,601	5,238,494
Total liabilities at fair value	213	1,955
Fair Value, Measurements, Recurring | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	75,874	123,182
Total equity securities	741,369	597,888
Total short-term investments	282,162	176,653
Notes receivable	0	0
Total assets at fair value	1,099,405	897,723
Total liabilities at fair value	213	1,955
Fair Value, Measurements, Recurring | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	4,837,504	4,196,154
Total equity securities	42,603	51,563
Total short-term investments	1,655	1,838
Notes receivable	31,231	9,974
Total assets at fair value	4,912,993	4,259,529
Total liabilities at fair value	0	0
Fair Value, Measurements, Recurring | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	0	0
Total equity securities	0	0
Total short-term investments	0	0
Notes receivable	0	0
Total assets at fair value	0	0
Total liabilities at fair value	0	0
Fair Value, Measurements, Recurring | U.S. government bonds and agencies
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	93,837	174,450
Fair Value, Measurements, Recurring | U.S. government bonds and agencies | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	75,874	123,182
Fair Value, Measurements, Recurring | U.S. government bonds and agencies | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	17,963	51,268
Fair Value, Measurements, Recurring | U.S. government bonds and agencies | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	0	0
Fair Value, Measurements, Recurring | Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	2,987,054	2,777,258
Fair Value, Measurements, Recurring | Municipal securities | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	0	0
Fair Value, Measurements, Recurring | Municipal securities | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	2,987,054	2,777,258
Fair Value, Measurements, Recurring | Municipal securities | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	0	0
Fair Value, Measurements, Recurring | Mortgage-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	259,421	186,887
Fair Value, Measurements, Recurring | Mortgage-backed securities | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	0	0
Fair Value, Measurements, Recurring | Mortgage-backed securities | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	259,421	186,887
Fair Value, Measurements, Recurring | Mortgage-backed securities | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	0	0
Fair Value, Measurements, Recurring | Corporate securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	841,715	599,630
Fair Value, Measurements, Recurring | Corporate securities | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	0	0
Fair Value, Measurements, Recurring | Corporate securities | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	841,715	599,630
Fair Value, Measurements, Recurring | Corporate securities | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	0	0
Fair Value, Measurements, Recurring | Collateralized loan obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	626,255	484,947
Fair Value, Measurements, Recurring | Collateralized loan obligations | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	0	0
Fair Value, Measurements, Recurring | Collateralized loan obligations | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	626,255	484,947
Fair Value, Measurements, Recurring | Collateralized loan obligations | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	0	0
Fair Value, Measurements, Recurring | Other asset-backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	105,096	96,164
Fair Value, Measurements, Recurring | Other asset-backed securities | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	0	0
Fair Value, Measurements, Recurring | Other asset-backed securities | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	105,096	96,164
Fair Value, Measurements, Recurring | Other asset-backed securities | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total fixed maturity securities	0	0
Fair Value, Measurements, Recurring | Common stock
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total equity securities	741,369	597,888
Fair Value, Measurements, Recurring | Common stock | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total equity securities	741,369	597,888
Fair Value, Measurements, Recurring | Common stock | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total equity securities	0	0
Fair Value, Measurements, Recurring | Common stock | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total equity securities	0	0
Fair Value, Measurements, Recurring | Non-redeemable preferred stock
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total equity securities	42,603	51,563
Fair Value, Measurements, Recurring | Non-redeemable preferred stock | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total equity securities	0	0
Fair Value, Measurements, Recurring | Non-redeemable preferred stock | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total equity securities	42,603	51,563
Fair Value, Measurements, Recurring | Non-redeemable preferred stock | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total equity securities	0	0
Fair Value, Measurements, Recurring | Private equity funds measured at net asset value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total equity securities	95,203	81,242
Fair Value, Measurements, Recurring | Short-term bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	1,655	13,853
Fair Value, Measurements, Recurring | Short-term bonds | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	0	12,015
Fair Value, Measurements, Recurring | Short-term bonds | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	1,655	1,838
Fair Value, Measurements, Recurring | Short-term bonds | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	0	0
Fair Value, Measurements, Recurring | Money market instruments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	282,141	164,595
Fair Value, Measurements, Recurring | Money market instruments | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	282,141	164,595
Fair Value, Measurements, Recurring | Money market instruments | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	0	0
Fair Value, Measurements, Recurring | Money market instruments | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	0	0
Fair Value, Measurements, Recurring | Other
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	21	43
Fair Value, Measurements, Recurring | Other | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	21	43
Fair Value, Measurements, Recurring | Other | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	0	0
Fair Value, Measurements, Recurring | Other | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	0	0
Fair Value, Measurements, Recurring | Options sold
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Options sold	213	1,955
Fair Value, Measurements, Recurring | Options sold | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Options sold	213	1,955
Fair Value, Measurements, Recurring | Options sold | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Options sold	0	0
Fair Value, Measurements, Recurring | Options sold | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Options sold	$ 0	$ 0

Fair Value Measurement - Financ

Fair Value Measurement - Financial Instruments Disclosed, But Not Carried, At Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, carrying value	$ 574,128	$ 573,729
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	566,812	557,710
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0	0
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	566,812	557,710
Unsecured notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, carrying value	374,128	373,729
Unsecured notes | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0	0
Unsecured notes | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	367,504	357,765
Unsecured notes | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0	0
Unsecured notes | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	367,504	357,765
Line of Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, carrying value	200,000	200,000
Line of Credit | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0	0
Line of Credit | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	199,308	199,945
Line of Credit | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0	0
Line of Credit | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	$ 199,308	$ 199,945

Fixed Assets - Components Of Fi

Fixed Assets - Components Of Fixed Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Fixed assets, gross	$ 459,631	$ 453,740
Less: accumulated depreciation and amortization	(321,454)	(302,557)
Fixed assets, net	138,177	151,183
Land
Property, Plant and Equipment [Line Items]
Fixed assets, gross	6,665	9,713
Buildings and improvements
Property, Plant and Equipment [Line Items]
Fixed assets, gross	35,602	65,408
Furniture and equipment
Property, Plant and Equipment [Line Items]
Fixed assets, gross	29,291	31,073
Capitalized software
Property, Plant and Equipment [Line Items]
Fixed assets, gross	386,116	344,654
Leasehold improvements
Property, Plant and Equipment [Line Items]
Fixed assets, gross	$ 1,957	$ 2,892

Fixed Assets - Narrative (Detai

Fixed Assets - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Depreciation expense		$ 37,400	$ 33,800	$ 34,300
Gain (loss) on sale of fixed asset		20,111	5,879	(86)
Sales of fixed assets		$ 12,707	$ 29,860	$ 3
Promissory Note
Property, Plant and Equipment [Line Items]
Interest rate (in percent)	7%	7%
Promissory note, term (in years)	4 years	4 years
Oklahoma City, Oklahoma Office Building | Disposal Group, Held-for-sale, Not Discontinued Operations
Property, Plant and Equipment [Line Items]
Gain (loss) as a result of the held-for-sale classification		$ (1,000)
Oklahoma City, Oklahoma Office Building | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Property, Plant and Equipment [Line Items]
Sale price of fixed asset		3,600
Gain (loss) on sale of fixed asset		(100)
Brea, California Office Building | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Property, Plant and Equipment [Line Items]
Sale price of fixed asset		31,500
Gain (loss) on sale of fixed asset		20,300
Promissory note received from sale of fixed asset		21,400
Sales of fixed assets		9,300
Folsom, California Office Building | Disposal Group, Held-for-sale, Not Discontinued Operations
Property, Plant and Equipment [Line Items]
Gain (loss) as a result of the held-for-sale classification		(5,400)
Fixed asset classified as held for sale		10,000
Rancho Cucamonga, California Parcel Of Land | Disposal Group, Held-for-sale, Not Discontinued Operations
Property, Plant and Equipment [Line Items]
Fixed asset classified as held for sale		$ 1,700

Deferred Policy Acquisition C_3

Deferred Policy Acquisition Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of year	$ 293,844	$ 266,475	$ 258,259
Policy acquisition costs deferred	899,749	735,894	662,828
Amortization	(858,261)	(708,525)	(654,612)
Balance, end of year	$ 335,332	$ 293,844	$ 266,475

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	Dec. 31, 2024 USD ($)
Lessee, Lease, Description [Line Items]
Lessee, operating lease, lease not yet commenced, amount	$ 4
Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease term	1 year
Lessee, operating lease, lease not yet commenced, term of contract	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease term	6 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, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease cost	$ 9,834	$ 11,687	$ 14,747
Finance lease cost, amortization of assets	1,585	1,241	1,288
Finance lease cost, interest on lease liabilities	126	40	54
Variable lease cost	403	1,100	2,184
Sublease income	(469)	(799)	(492)
Net lease cost	$ 11,479	$ 13,269	$ 17,781

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease assets	$ 13,407	$ 14,406
Operating lease liabilities	$ 13,580	$ 14,231
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Finance lease assets	$ 2,966	$ 2,996
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities	Other liabilities
Finance lease liabilities	$ 2,521	$ 2,841

Leases - Weighted Average Lease

Leases - Weighted Average Lease Term and Discount Rate (Details)	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease, weighted-average remaining lease term (in years)	2 years 10 months 24 days	2 years 7 months 6 days
Financing lease, weighted-average remaining lease term (in years)	2 years 4 months 24 days	2 years 6 months
Operating leases, weighted-average discount rate	5.68%	4.37%
Finance leases, weighted-average discount rate	2.54%	1.37%

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 9,485	$ 14,023	$ 15,815
Operating cash flows from finance leases	68	41	54
Financing cash flows from finance leases	1,533	1,102	1,504
ROU assets obtained in exchange for lease liabilities:
Operating leases	6,924	6,587	4,677
Finance leases	$ 0	$ 0	$ 1,951

Leases - Maturities of Operatin

Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Operating Leases
2025	$ 6,229
2026	4,368
2027	2,485
2028	1,184
2029	514
2030 and thereafter	207
Total lease payments	14,987
Less: Imputed interest	1,407
Total lease obligations	13,580	$ 14,231
Finance Leases
2025	1,413
2026	785
2027	381
2028	0
2029	0
2030 and thereafter	0
Total lease payments	2,579
Less: Imputed interest	58
Total lease obligations	$ 2,521	$ 2,841

Notes Payable - Schedule of Lon

Notes Payable - Schedule of Long-term Debt (Details)			12 Months Ended
	Feb. 11, 2025 USD ($)	Nov. 22, 2024	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Nov. 30, 2023 USD ($)	Nov. 18, 2022 USD ($)	Mar. 31, 2021 USD ($)	Mar. 08, 2017 USD ($)
Debt Instrument [Line Items]
Total principal amount			$ 575,000,000	$ 575,000,000
Less unamortized discount and debt issuance costs			872,000	1,271,000
Notes payable			574,128,000	573,729,000
Unsecured Notes Two | Revolving Credit Facility
Debt Instrument [Line Items]
Loan maximum borrowing capacity					$ 250,000,000	$ 200,000,000	$ 75,000,000
Drawn down amount under credit facility			200,000,000	200,000,000
Unamortized debt issuance cost			600,000
Unsecured Notes Two | Revolving Credit Facility | Consolidated Insurance Subsidiary
Debt Instrument [Line Items]
Drawn down amount under credit facility contributed			150,000,000
Unsecured Notes Two | Revolving Credit Facility | Subsequent Event
Debt Instrument [Line Items]
Interest rate, effective percentage	5.79%
Drawn down amount under credit facility	$ 200,000,000
Undrawn portion of credit facility	$ 50,000,000
Unsecured notes
Debt Instrument [Line Items]
Notes payable			$ 374,128,000	373,729,000
Unsecured notes | Notes payable | Level 2 | Unsecured Notes One
Debt Instrument [Line Items]
Interest rate (in percent)			4.40%					4.40%
Unsecured debt			$ 375,000,000	375,000,000				$ 375,000,000
Debt issuance costs								$ 3,400,000
Discount percent								99.847%
Interest rate, effective percentage								4.45%
Unsecured notes | Notes payable | Level 2 | Unsecured Notes Two
Debt Instrument [Line Items]
Unsecured debt			$ 200,000,000	$ 200,000,000
Minimum | Unsecured Notes Two | Revolving Credit Facility
Debt Instrument [Line Items]
Debt to total capital ratio		0.20
Commitment fee on undrawn portion of facility		0.125%	0.15%
Minimum | Unsecured notes | Notes payable | Level 2 | Unsecured Notes Two
Debt Instrument [Line Items]
Basis spread on variable rate			1.125%
Maximum | Unsecured Notes Two | Revolving Credit Facility
Debt Instrument [Line Items]
Debt to total capital ratio		0.30	0.228
Commitment fee on undrawn portion of facility		0.225%
Maximum | Unsecured notes | Notes payable | Level 2 | Unsecured Notes Two
Debt Instrument [Line Items]
Basis spread on variable rate			1.50%

Notes Payable - Schedule of Mat

Notes Payable - Schedule of Maturities of Debt (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Long-Term Debt, Fiscal Year Maturity [Abstract]
2025	$ 0
2026	0
2027	575,000
2028	0
2029	0
Thereafter	0
Total	$ 575,000

Derivative Financial Instrume_3

Derivative Financial Instruments - Summary Of Location And Amounts Of Derivative Fair Values In The Consolidated Balance Sheets (Details) - Non-hedging derivatives - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
Liability Derivatives	$ 213	$ 1,955
Option contracts | Other liabilities
Derivative [Line Items]
Liability Derivatives	$ 213	$ 1,955

Derivative Financial Instrume_4

Derivative Financial Instruments - Schedule Of Derivative Gains And Losses In The Consolidated Statements Of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net realized investment gains (losses)	Net realized investment gains (losses)	Net realized investment gains (losses)
Derivatives Not Designated as Hedging Instrument
Derivative [Line Items]
Gains Recognized in Income	$ 13,395	$ 8,586	$ 5,887
Derivatives Not Designated as Hedging Instrument | Options sold
Derivative [Line Items]
Gains Recognized in Income	$ 13,395	$ 8,586	$ 5,887

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Change in goodwill	$ 0	$ 0
Goodwill, impaired, accumulated impairment loss	0	0
Goodwill, impairment	0	0
Intangible asset impairment	0	0
Intangible assets amortization expense	$ 900,000	$ 900,000	$ 1,000,000

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Schedule Of Components Of Other Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 76,207	$ 75,962
Accumulated Amortization	(68,525)	(67,629)
Net Carrying Amount	7,682	8,333
Insurance license
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,400	1,400
Accumulated Amortization	0	0
Net Carrying Amount	1,400	1,400
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	55,107	54,862
Accumulated Amortization	(53,958)	(53,704)
Net Carrying Amount	$ 1,149	$ 1,158
Useful Lives (in years)	10 years	11 years
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 15,400	$ 15,400
Accumulated Amortization	(10,267)	(9,625)
Net Carrying Amount	$ 5,133	$ 5,775
Useful Lives (in years)	24 years	24 years
Technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 4,300	$ 4,300
Accumulated Amortization	(4,300)	(4,300)
Net Carrying Amount	$ 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, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 856
2026	856
2027	856
2028	856
2029	811
Thereafter	2,047
Total	$ 6,282

Income Taxes - Income (Loss) Be

Income Taxes - Income (Loss) Before Provision For Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Domestic	$ 574,756	$ 99,428	$ (670,715)
Foreign	124	0	0
Income (loss) before income taxes	$ 574,880	$ 99,428	$ (670,715)

Income Taxes - Components Of In

Income Taxes - Components Of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Federal
Current	$ 119,900	$ (3,840)	$ (62,355)
Deferred	(14,617)	10,523	(93,562)
Total	105,283	6,683	(155,917)
State
Current	(138)	(2,958)	784
Deferred	1,776	(633)	(2,910)
Total	1,638	(3,591)	(2,126)
Foreign
Current	6	0	0
Deferred	0	0	0
Total	6	0	0
Current	119,768	(6,798)	(61,571)
Deferred	(12,841)	9,890	(96,472)
Income tax expense (benefit)	$ 106,927	$ 3,092	$ (158,043)

Income Taxes - Reconciliation O

Income Taxes - Reconciliation Of Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]
Computed tax expense (benefit) at 21%	$ 120,725	$ 20,880	$ (140,850)
Tax-exempt interest income	(13,114)	(13,640)	(11,864)
Dividends received deduction	(1,276)	(1,237)	(1,364)
State tax expense (benefit)	1,098	(3,539)	(1,597)
Nondeductible expenses	815	639	279
Other, net	(1,321)	(11)	(2,647)
Income tax expense (benefit)	$ 106,927	$ 3,092	$ (158,043)

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets And Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred tax assets:
20% of net unearned premiums	$ 88,940	$ 75,394
Discounting of loss reserves and salvage and subrogation recoverable for tax purposes	30,734	25,340
Expense accruals	19,821	11,262
Tax asset on net unrealized loss on securities carried at fair value	0	166
Other deferred tax assets	4,371	8,743
Total gross deferred tax assets	143,866	120,905
Deferred tax liabilities:
Deferred policy acquisition costs	(70,420)	(61,707)
Tax liability on net unrealized gain on securities carried at fair value	(3,253)	0
Tax depreciation in excess of book depreciation	(2,549)	(6,801)
Undistributed earnings of insurance subsidiaries	(2,731)	(1,511)
Tax amortization in excess of book amortization	(8,769)	(8,904)
Other deferred tax liabilities	(10,290)	(8,969)
Total gross deferred tax liabilities	(98,012)	(87,892)
Net deferred tax assets	$ 45,854	$ 33,013

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]
Operating loss carryforwards	$ 1.6	$ 19.7
Operating loss carryforwards, subject to expiration	1.6
Increase (decrease) in unrecognized tax benefits	(2.3)
Interest and penalty benefit	(2.1)	(1.2)
Interest and penalty expense			$ 0.4
Accrued interest and penalty	$ 0.4	$ 2.5

Income Taxes - Summary Of Unrec

Income Taxes - Summary Of Unrecognized Tax Benefits - (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Balance at January 1	$ 2,262	$ 4,380
Additions based on tax positions related to the current year	0	0
Decreases based on tax positions related to prior years	(2,262)	(2,118)
Balance at December 31	$ 0	$ 2,262

Loss And Loss Adjustment Expe_3

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, 2024	Dec. 31, 2023	Dec. 31, 2022
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Gross reserves, beginning of period	$ 2,785,702	$ 2,584,910	$ 2,226,430
Reinsurance recoverables on unpaid losses, beginning of period	(32,148)	(25,323)	(41,379)
Net reserves, beginning of period	2,753,554	2,559,587	2,185,051
Incurred losses and loss adjustment expenses related to:
Current year	3,659,724	3,553,801	3,314,938
Prior years	24,787	(35,948)	47,281
Total incurred losses and loss adjustment expenses	3,684,511	3,517,853	3,362,219
Loss and loss adjustment expense payments related to:
Current year	1,963,076	2,080,690	1,862,006
Prior years	1,351,603	1,243,196	1,125,677
Total payments	3,314,679	3,323,886	2,987,683
Net reserves, end of period	3,123,386	2,753,554	2,559,587
Reinsurance recoverables on unpaid losses, end of period	28,645	32,148	25,323
Gross reserves, end of period	$ 3,152,031	$ 2,785,702	$ 2,584,910

Loss And Loss Adjustment Expe_4

Loss And Loss Adjustment Expense Reserves - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Unusual or Infrequent Item, or Both [Line Items]
Prior year claims and claims adjustment expense	$ 24,787	$ (35,948)	$ 47,281
Liability for catastrophe claims, carrying amount	277,000	239,000	102,000
Catastrophe
Unusual or Infrequent Item, or Both [Line Items]
Adjustments for prior year claims	9,000	(8,000)	1,000
Liability for catastrophe claims, carrying amount	268,000	$ 247,000	$ 101,000
Property insurance product line, automobile
Unusual or Infrequent Item, or Both [Line Items]
Adjustments for prior year claims	13,000
Property insurance product line, homeowners'
Unusual or Infrequent Item, or Both [Line Items]
Adjustments for prior year claims	(5,000)
Property insurance product line, commercial property
Unusual or Infrequent Item, or Both [Line Items]
Adjustments for prior year claims	15,000
Other Short-duration Insurance Product Line
Unusual or Infrequent Item, or Both [Line Items]
Adjustments for prior year claims	$ 2,000

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, 2024 USD ($) number_of_claims	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)
Claims Development [Line Items]
Net outstanding liabilities	$ 2,970,466
Property insurance product line, automobile
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	19,250,950
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	17,016,160
All outstanding liabilities before 2015, net of reinsurance	(560)
Net outstanding liabilities	2,234,230
Property insurance product line, homeowners'
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	4,379,142
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	3,956,100
All outstanding liabilities before 2015, net of reinsurance	1,179
Net outstanding liabilities	424,221
Property insurance product line, commercial property
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	657,501
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	444,640
All outstanding liabilities before 2015, net of reinsurance	205
Net outstanding liabilities	213,066
2015 | Property insurance product line, automobile
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	1,654,800	$ 1,655,267	$ 1,654,843	$ 1,653,878	$ 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	$ 335
Cumulative Number of Reported Claims | number_of_claims	170
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,654,360	1,654,069	1,651,465	1,643,443	1,634,780	1,614,188	1,560,480	1,466,368	1,336,223	1,040,253
2015 | Property insurance product line, homeowners'
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	237,701	237,994	237,872	240,927	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	$ 60
Cumulative Number of Reported Claims | number_of_claims	24
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 237,468	237,651	236,983	236,143	235,971	234,683	230,480	224,178	213,994	163,196
2015 | Property insurance product line, commercial property
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	40,312	40,490	39,749	38,822	37,632	37,052	37,197	36,641	34,932	33,015
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 38
Cumulative Number of Reported Claims | number_of_claims	1
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 40,170	40,087	39,520	38,064	36,262	34,836	33,287	30,703	26,226	$ 17,110
2016 | Property insurance product line, automobile
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	1,744,803	1,745,513	1,743,417	1,740,807	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	$ 1,974
Cumulative Number of Reported Claims | number_of_claims	155
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,741,949	1,740,902	1,736,697	1,722,293	1,699,069	1,656,192	1,554,217	1,395,199	1,094,006
2016 | Property insurance product line, homeowners'
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	260,179	259,701	259,722	259,984	260,496	259,708	259,497	259,489	250,691
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 16
Cumulative Number of Reported Claims | number_of_claims	24
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 260,095	259,875	259,045	258,477	256,642	253,919	245,878	234,215	173,537
2016 | Property insurance product line, commercial property
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	51,796	53,687	56,479	55,746	46,170	45,665	46,349	41,827	38,639
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 158
Cumulative Number of Reported Claims | number_of_claims	1
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 50,579	49,190	48,036	46,026	41,221	39,499	35,426	27,210	$ 18,243
2017 | Property insurance product line, automobile
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	1,753,163	1,754,356	1,755,702	1,748,289	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	$ 2,368
Cumulative Number of Reported Claims | number_of_claims	149
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,750,074	1,746,147	1,733,196	1,701,298	1,648,328	1,561,850	1,399,202	1,076,079
2017 | Property insurance product line, homeowners'
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	291,804	290,909	291,360	289,294	289,869	288,322	295,163	309,491
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 4
Cumulative Number of Reported Claims | number_of_claims	30
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 291,595	290,984	290,291	286,531	283,311	278,341	269,254	217,900
2017 | Property insurance product line, commercial property
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	63,207	64,645	59,800	57,658	55,288	53,829	50,378	46,410
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 1,312
Cumulative Number of Reported Claims | number_of_claims	1
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 60,980	60,803	52,350	47,597	43,809	36,284	31,116	$ 18,910
2018 | Property insurance product line, automobile
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	1,814,240	1,811,302	1,807,297	1,806,240	1,785,071	1,773,502	1,781,817
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 7,291
Cumulative Number of Reported Claims | number_of_claims	147
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,799,373	1,784,876	1,757,923	1,697,228	1,588,049	1,417,637	1,082,127
2018 | Property insurance product line, homeowners'
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	306,857	308,345	306,347	305,292	310,695	308,361	311,798
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 572
Cumulative Number of Reported Claims | number_of_claims	25
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 305,175	303,053	300,742	294,099	286,658	271,534	213,038
2018 | Property insurance product line, commercial property
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	46,474	47,799	47,141	44,452	42,587	45,610	43,859
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 849
Cumulative Number of Reported Claims | number_of_claims	1
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 43,527	41,376	37,428	34,520	29,436	24,146	$ 16,266
2019 | Property insurance product line, automobile
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	1,948,995	1,951,924	1,954,151	1,959,262	1,911,268	1,916,269
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 11,185
Cumulative Number of Reported Claims | number_of_claims	148
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,925,074	1,896,186	1,828,410	1,698,121	1,494,342	1,134,859
2019 | Property insurance product line, homeowners'
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	362,401	360,140	360,609	361,421	366,139	359,643
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 1,427
Cumulative Number of Reported Claims | number_of_claims	30
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 359,466	355,697	350,288	340,237	324,953	240,240
2019 | Property insurance product line, commercial property
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	51,721	51,677	46,845	43,167	42,756	45,574
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 1,744
Cumulative Number of Reported Claims | number_of_claims	1
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 45,886	40,056	35,780	30,592	25,956	$ 15,182
2020 | Property insurance product line, automobile
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	1,419,119	1,430,973	1,452,343	1,448,083	1,514,551
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 15,497
Cumulative Number of Reported Claims | number_of_claims	91
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,375,466	1,328,686	1,242,000	1,089,096	825,398
2020 | Property insurance product line, homeowners'
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	411,127	411,408	413,882	411,404	420,257
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 4,213
Cumulative Number of Reported Claims | number_of_claims	29
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 401,079	395,412	386,297	365,910	271,208
2020 | Property insurance product line, commercial property
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	49,630	50,634	42,968	46,663	56,319
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 3,732
Cumulative Number of Reported Claims | number_of_claims	1
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 40,713	37,130	31,138	27,705	$ 19,529
2021 | Property insurance product line, automobile
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	1,834,183	1,854,319	1,879,751	1,811,064
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 40,221
Cumulative Number of Reported Claims | number_of_claims	105
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,717,524	1,599,756	1,410,748	992,705
2021 | Property insurance product line, homeowners'
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	501,214	504,086	511,311	510,724
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 7,556
Cumulative Number of Reported Claims | number_of_claims	31
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 485,001	473,644	458,124	316,314
2021 | Property insurance product line, commercial property
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	78,371	73,289	55,863	58,413
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 15,537
Cumulative Number of Reported Claims | number_of_claims	1
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 54,763	41,432	33,477	$ 24,032
2022 | Property insurance product line, automobile
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	2,262,432	2,264,193	2,255,032
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 103,677
Cumulative Number of Reported Claims | number_of_claims	116
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,984,312	1,743,364	1,237,725
2022 | Property insurance product line, homeowners'
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	567,123	562,562	578,489
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 16,682
Cumulative Number of Reported Claims | number_of_claims	31
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 530,772	501,075	339,242
2022 | Property insurance product line, commercial property
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	95,927	83,086	75,113
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 22,328
Cumulative Number of Reported Claims | number_of_claims	1
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 58,455	44,304	$ 25,699
2023 | Property insurance product line, automobile
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	2,398,449	2,349,659
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 276,766
Cumulative Number of Reported Claims | number_of_claims	107
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,835,079	1,313,944
2023 | Property insurance product line, homeowners'
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	709,918	717,988
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 34,859
Cumulative Number of Reported Claims | number_of_claims	41
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 636,330	474,713
2023 | Property insurance product line, commercial property
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	82,778	80,150
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 31,451
Cumulative Number of Reported Claims | number_of_claims	1
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 32,384	$ 22,119
2024 | Property insurance product line, automobile
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	2,420,766
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 791,846
Cumulative Number of Reported Claims | number_of_claims	91
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 1,232,949
2024 | Property insurance product line, homeowners'
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	730,818
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 161,375
Cumulative Number of Reported Claims | number_of_claims	29
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 449,119
2024 | Property insurance product line, commercial property
Claims Development [Line Items]
Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	97,285
Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims	$ 51,540
Cumulative Number of Reported Claims | number_of_claims	0
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance	$ 17,183

Loss And Loss Adjustment Expe_6

Loss And Loss Adjustment Expense Reserves - Average Annual Percentage Payout of Incurred Claims by Age (Details)	Dec. 31, 2024
Property insurance product line, automobile
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Short-duration insurance contracts, historical claims duration, year one	57.80%
Short-duration insurance contracts, historical claims duration, year two	19.60%
Short-duration insurance contracts, historical claims duration, year three	9.70%
Short-duration insurance contracts, historical claims duration, year four	6%
Short-duration insurance contracts, historical claims duration, year five	3.10%
Short-duration insurance contracts, historical claims duration, year six	1.50%
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%
Property insurance product line, homeowners'
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Short-duration insurance contracts, historical claims duration, year one	66.30%
Short-duration insurance contracts, historical claims duration, year two	23%
Short-duration insurance contracts, historical claims duration, year three	4.30%
Short-duration insurance contracts, historical claims duration, year four	2.40%
Short-duration insurance contracts, historical claims duration, year five	1.50%
Short-duration insurance contracts, historical claims duration, year six	0.90%
Short-duration insurance contracts, historical claims duration, year seven	0.30%
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%
Property insurance product line, commercial property
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Short-duration insurance contracts, historical claims duration, year one	31.30%
Short-duration insurance contracts, historical claims duration, year two	17.50%
Short-duration insurance contracts, historical claims duration, year three	10.90%
Short-duration insurance contracts, historical claims duration, year four	10.90%
Short-duration insurance contracts, historical claims duration, year five	5.80%
Short-duration insurance contracts, historical claims duration, year six	8%
Short-duration insurance contracts, historical claims duration, year seven	6.60%
Short-duration insurance contracts, historical claims duration, year eight	2%
Short-duration insurance contracts, historical claims duration, year nine	2%
Short-duration insurance contracts, historical claims duration, year ten	0.20%

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, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Net outstanding liabilities	$ 2,970,466
Reinsurance recoverables on unpaid losses	28,645
Insurance lines other than short-duration	1,114
Unallocated claims adjustment expenses	151,806
Unallocated claims adjustment expenses, aggregate reconciling items	152,920
Total gross loss and loss adjustment expense reserves	3,152,031	$ 2,785,702	$ 2,584,910	$ 2,226,430
Property insurance product line, automobile
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Net outstanding liabilities	2,234,230
Reinsurance recoverables on unpaid losses	26,499
Property insurance product line, homeowners'
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Net outstanding liabilities	424,221
Reinsurance recoverables on unpaid losses	1,273
Property insurance product line, commercial property
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Net outstanding liabilities	213,066
Reinsurance recoverables on unpaid losses	392
Other Short-duration Insurance Product Line
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Net outstanding liabilities	98,949
Reinsurance recoverables on unpaid losses	$ 481

Dividends - Dividends Paid In T

Dividends - Dividends Paid In Total And Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Dividends [Abstract]
Total paid	$ 70,326	$ 70,322	$ 105,482
Per share paid (in dollars per share)	$ 1.2700	$ 1.2700	$ 1.9050

Dividends - Narrative (Details)

Dividends - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
	Feb. 07, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Dividends Payable [Line Items]
Maximum dividend payable without prior permission of DOI of states domicile		$ 252
Proceeds from dividends received		$ 100	$ 0	$ 0
Quarterly dividend declared (in dollars per share)		$ 1.2700	$ 1.2700	$ 1.9050
Subsequent Event
Dividends Payable [Line Items]
Quarterly dividend declared (in dollars per share)	$ 0.3175

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, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Statutory Balances And Accounting Practices [Abstract]
Statutory net (loss) income	[1]	$ 446,405	$ (35,590)	$ (184,292)
Statutory capital and surplus		$ 2,030,460	$ 1,667,187	$ 1,502,424
RBC authorized control level		3.50	3.50	3.30
RBC threshold for regulatory or company action		200%
[1] Statutory net income (loss) reflects differences from GAAP net income (loss), 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 ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Deferred Compensation Arrangements [Abstract]
Maximum percentage of compensation employee is allowed to contribute	15%
Matching contributions	$ 12.5	$ 11.1	$ 10.8
Bonus expense, cash	$ 7.1	$ 3.6	$ 9.1

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details)	1 Months Ended		12 Months Ended
	Feb. 28, 2019 shares	Feb. 28, 2018 executive shares	Dec. 31, 2024 USD ($) shares	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Feb. 28, 2015 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting term (in years)			4 years
Canceled or expired, (in shares)			0
Intrinsic value of stock options exercised | $			$ 557,910	$ 0	$ 29,975
Total fair value of stock options vested | $			0	0	141,584
Share-based compensation expense | $			$ 4,648,000	$ 0	$ 15,000
Performance-based Phantom Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted "target" award (in shares)			200,532
Forfeited in period (in shares)			3,016
Restricted Phantom Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted "target" award (in shares)			36,315
Forfeited in period (in shares)			726
Equity Incentive Plan 2005
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of stock option exercisable per year			25%
Equity Incentive Plan 2005 | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period (in years)			10 years
Incentive Award Plan 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)						4,900,000
Incentive Award Plan 2015 | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)		80,000
Number of executives | executive		4
Vesting term (in years)			4 years
Canceled or expired, (in shares)	10,000
Long-Term Incentive Plan 2024 | Performance-based And Restricted Phantom Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense | $			$ 4,600,000
Long-Term Incentive Plan 2024 | Performance-based Phantom Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted "target" award (in shares)			200,532
Forfeited in period (in shares)			3,016
Performance period (in years)			3 years
Maximum payout level based on "target" award (in percent)			150%
Long-Term Incentive Plan 2024 | Restricted Phantom Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted "target" award (in shares)			36,315
Forfeited in period (in shares)			726

Share-Based Compensation - Shar

Share-Based Compensation - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Proceeds from stock options exercised	$ 752	$ 0	$ 0
Compensation cost, all share-based awards	4,648	0	15
Excess tax benefit, all share-based awards	$ (87)	$ 0	$ (1)

Share-Based Compensation - Stoc

Share-Based Compensation - Stock Option Valuation Assumptions (Details) - Options	12 Months Ended
	Dec. 31, 2024 $ / 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 - St_2

Share-Based Compensation - Stock Option Award Activity (Details)	12 Months Ended
	Dec. 31, 2024 $ / shares shares
Shares
Outstanding Shares, Beginning balance (in shares) | shares	17,500
Exercised, (in shares) | shares	(17,500)
Canceled or expired, (in shares) | shares	0
Outstanding Shares, Ending balance (in share) | shares	0
Exercisable, (in shares) | shares	0
Weighted-Average Exercise Price
Beginning balance (in dollars per share) | $ / shares	$ 43.01
Exercised (in dollars per share) | $ / shares	43.01
Canceled or Expired (in dollars per share) | $ / shares	0
Ending balance (in dollars per share) | $ / shares	0
Exercisable (in dollars per share) | $ / shares	$ 0

Share-Based Compensation - Summ

Share-Based Compensation - Summary Of Performance-Based PSU Grants (Details) - Performance-based Phantom Stock Units - Long-Term Incentive Plan 2024	Dec. 31, 2024 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting shares, target (net of forfeited) (in shares)	197,516
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting shares, target (net of forfeited) (in shares)	296,274

Share-Based Compensation - Perf

Share-Based Compensation - Performance-Based PSU Award Activity (Details) - Performance-based Phantom Stock Units	12 Months Ended
	Dec. 31, 2024 $ / shares shares
Shares
Beginning balance (in shares) | shares	0
Granted (in shares) | shares	200,532
Vested (in shares) | shares	0
Forfeited/Canceled (in shares) | shares	(3,016)
Expired (in shares) | shares	0
Ending balance (in shares) | shares	197,516
Weighted- Average  Fair Value per Share
Beginning balance (in dollars per share) | $ / shares	$ 0
Granted (in dollars per share) | $ / shares	39.12
Vested (in dollars per share) | $ / shares	0
Forfeited/Canceled (in dollars per share) | $ / shares	59.80
Expired (in dollars per share) | $ / shares	0
Ending balance (in dollars per share) | $ / shares	$ 66.48

Share-Based Compensation - Rest

Share-Based Compensation - Restricted PSU Award Activity (Details) - Restricted Phantom Stock Units	12 Months Ended
	Dec. 31, 2024 $ / shares shares
Shares
Beginning balance (in shares) | shares	0
Granted (in shares) | shares	36,315
Vested (in shares) | shares	0
Forfeited/Canceled (in shares) | shares	(726)
Expired (in shares) | shares	0
Ending balance (in shares) | shares	35,589
Weighted- Average  Fair Value per Share
Beginning balance (in dollars per share) | $ / shares	$ 0
Granted (in dollars per share) | $ / shares	61.67
Vested (in dollars per share) | $ / shares	0
Forfeited/Canceled (in dollars per share) | $ / shares	62.98
Expired (in dollars per share) | $ / shares	0
Ending balance (in dollars per share) | $ / shares	$ 66.48

Earnings (Loss) Per Share - Rec

Earnings (Loss) Per Share - Reconciliation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net Income (Numerator)
Income (loss) available to common stockholders, Basic	$ 467,953	$ 96,336	$ (512,672)
Income (loss) available to common stockholders after assumed conversions, Diluted	$ 467,953	$ 96,336	$ (512,672)
Weighted Average Shares (Denominator)
Weighted shares, basic (in shares)	55,373	55,371	55,371
Weighted shares, diluted (in shares)	55,377	55,371	55,371
Per-Share Amount
Basic (in dollars per share)	$ 8.45	$ 1.74	$ (9.26)
Diluted (in dollars per share)	$ 8.45	$ 1.74	$ (9.26)
Options
Net Income (Numerator)
Effect of dilutive securities: Options	$ 0	$ 0	$ 0
Weighted Average Shares (Denominator)
Effect of dilutive securities: options (in shares)	4	0	0

Earnings (Loss) Per Share - Nar

Earnings (Loss) Per Share - Narrative (Details) - Common stock - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Line Items]
Potentially dilutive securities with anti-dilutive effect (in shares)	0	17,500	17,500
Incremental shares excluded from computation of diluted loss per share (in shares)			26

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions	Apr. 30, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Exposure to earthquake loss	$ 83.8

Segment Information - Summary o

Segment Information - Summary of Operating Results by Segment (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) segment State Subsidiary	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Segment Reporting [Abstract]
Number of insurance companies | Subsidiary	12
Number of states in which company operates | State	11
Number of reportable segments | segment	1
Segment Reporting Information [Line Items]
Net premiums earned	$ 5,075,456	$ 4,274,378	$ 3,952,482
Total incurred losses and loss adjustment expenses	3,684,511	3,517,853	3,362,219
Policy acquisition costs	858,261	708,525	654,612
Other operating expenses	327,157	279,656	279,718
Net investment income	279,989	234,630	168,356
Net realized investment gains (losses)	88,671	101,014	(488,080)
Other income	31,517	19,609	10,308
Interest expense	(30,824)	(24,169)	(17,232)
Income (loss) before income taxes	574,880	99,428	(670,715)
Net income (loss)	467,953	96,336	(512,672)
Operating Segments
Segment Reporting Information [Line Items]
Net premiums earned	5,075,500	4,274,400	3,952,500
Losses	3,171,300	3,033,100	2,864,400
Loss adjustment expenses	513,200	484,800	497,800
Total incurred losses and loss adjustment expenses	3,684,500	3,517,900	3,362,200
Policy acquisition costs	858,300	708,500	654,600
Other operating expenses	327,200	279,700	279,700
Underwriting gain (loss)	205,500	(231,700)	(344,000)
Net investment income	280,000	234,600	168,400
Net realized investment gains (losses)	88,700	101,000	(488,100)
Other income	31,500	19,700	10,200
Interest expense	(30,800)	(24,200)	(17,200)
Income (loss) before income taxes	574,900	99,400	(670,700)
Net income (loss)	468,000	96,300	(512,700)
Property & Casualty
Segment Reporting Information [Line Items]
Net premiums earned	5,046,099	4,245,369	3,923,642
Property & Casualty | Operating Segments
Segment Reporting Information [Line Items]
Net premiums earned	5,046,100	4,245,400	3,923,600
Losses	3,156,400	3,019,400	2,851,300
Loss adjustment expenses	511,300	482,800	495,900
Total incurred losses and loss adjustment expenses	3,667,700	3,502,200	3,347,200
Policy acquisition costs	846,600	696,900	645,500
Other operating expenses	324,100	276,600	276,500
Underwriting gain (loss)	207,700	(230,300)	(345,600)
Other | Operating Segments
Segment Reporting Information [Line Items]
Net premiums earned	29,400	29,000	28,900
Losses	14,900	13,700	13,100
Loss adjustment expenses	1,900	2,000	1,900
Total incurred losses and loss adjustment expenses	16,800	15,700	15,000
Policy acquisition costs	11,700	11,600	9,100
Other operating expenses	3,100	3,100	3,200
Underwriting gain (loss)	$ (2,200)	$ (1,400)	$ 1,600

Segment Information - Summary_2

Segment Information - Summary of Premiums Written and Earned by Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Net premiums earned	$ 5,075,456	$ 4,274,378	$ 3,952,482
Operating Segments
Segment Reporting Information [Line Items]
Net premiums earned	5,075,500	4,274,400	3,952,500
Direct premiums written	5,500,800	4,558,500	4,048,500
Private passenger automobile | Operating Segments
Segment Reporting Information [Line Items]
Net premiums earned	3,278,500	2,796,100	2,655,700
Direct premiums written	3,395,800	2,841,800	2,598,900
Homeowners | Operating Segments
Segment Reporting Information [Line Items]
Net premiums earned	1,168,700	957,700	830,600
Direct premiums written	1,367,300	1,119,000	940,300
Commercial automobile | Operating Segments
Segment Reporting Information [Line Items]
Net premiums earned	378,200	303,900	267,900
Direct premiums written	387,000	346,200	276,800
Other | Operating Segments
Segment Reporting Information [Line Items]
Net premiums earned	250,100	216,700	198,300
Direct premiums written	350,700	251,500	232,500
Property & Casualty
Segment Reporting Information [Line Items]
Net premiums earned	5,046,099	4,245,369	3,923,642
Direct premiums written	5,474,292	4,531,942	4,018,057
Property & Casualty | Operating Segments
Segment Reporting Information [Line Items]
Net premiums earned	5,046,100	4,245,400	3,923,600
Direct premiums written	5,474,300	4,531,900	4,018,100
Property & Casualty | Private passenger automobile | Operating Segments
Segment Reporting Information [Line Items]
Net premiums earned	3,278,500	2,796,100	2,655,700
Direct premiums written	3,395,800	2,841,800	2,598,900
Property & Casualty | Homeowners | Operating Segments
Segment Reporting Information [Line Items]
Net premiums earned	1,168,700	957,700	830,600
Direct premiums written	1,367,300	1,119,000	940,300
Property & Casualty | Commercial automobile | Operating Segments
Segment Reporting Information [Line Items]
Net premiums earned	378,200	303,900	267,900
Direct premiums written	387,000	346,200	276,800
Property & Casualty | Other | Operating Segments
Segment Reporting Information [Line Items]
Net premiums earned	220,700	187,700	169,400
Direct premiums written	324,200	224,900	202,100
Other | Operating Segments
Segment Reporting Information [Line Items]
Net premiums earned	29,400	29,000	28,900
Direct premiums written	26,500	26,600	30,400
Other | Private passenger automobile | Operating Segments
Segment Reporting Information [Line Items]
Net premiums earned	0	0	0
Direct premiums written	0	0	0
Other | Homeowners | Operating Segments
Segment Reporting Information [Line Items]
Net premiums earned	0	0	0
Direct premiums written	0	0	0
Other | Commercial automobile | Operating Segments
Segment Reporting Information [Line Items]
Net premiums earned	0	0	0
Direct premiums written	0	0	0
Other | Other | Operating Segments
Segment Reporting Information [Line Items]
Net premiums earned	29,400	29,000	28,900
Direct premiums written	$ 26,500	$ 26,600	$ 30,400

Summary Of Investments Other _2

Summary Of Investments Other Than Investments In Related Parties (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	$ 6,061,318	$ 5,229,297
Fair Value	6,076,370	5,228,520
Amounts in the Balance Sheet	6,076,370	5,228,520
Fixed maturity securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	4,982,458	4,394,983
Fair Value	4,913,378	4,319,336
Amounts in the Balance Sheet	4,913,378	4,319,336
U.S. government bonds and agencies
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	94,102	174,903
Fair Value	93,837	174,450
Amounts in the Balance Sheet	93,837	174,450
Municipal securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	3,018,428	2,797,971
Fair Value	2,987,054	2,777,258
Amounts in the Balance Sheet	2,987,054	2,777,258
Mortgage-backed securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	271,444	201,727
Fair Value	259,421	186,887
Amounts in the Balance Sheet	259,421	186,887
Corporate securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	863,323	626,723
Fair Value	841,715	599,630
Amounts in the Balance Sheet	841,715	599,630
Collateralized loan obligations
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	623,817	486,984
Fair Value	626,255	484,947
Amounts in the Balance Sheet	626,255	484,947
Other asset-backed securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	111,344	106,675
Fair Value	105,096	96,164
Amounts in the Balance Sheet	105,096	96,164
Equity securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	795,068	654,939
Fair Value	879,175	730,693
Amounts in the Balance Sheet	879,175	730,693
Common stock
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	634,821	497,543
Fair Value	741,369	597,888
Amounts in the Balance Sheet	741,369	597,888
Non-redeemable preferred stock
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	52,206	64,860
Fair Value	42,603	51,563
Amounts in the Balance Sheet	42,603	51,563
Private equity funds measured at net asset value
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	108,041	92,536
Fair Value	95,203	81,242
Amounts in the Balance Sheet	95,203	81,242
Short-term investments
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	283,792	179,375
Fair Value	283,817	178,491
Amounts in the Balance Sheet	$ 283,817	$ 178,491

Condensed Financial Informati_2

Condensed Financial Information of Registrant (Schedule Of Condensed Financial Information Of Registrant, Balance Sheets) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Investments [Abstract]
Fixed maturity securities (amortized cost $0; $9,979)	$ 4,913,378	$ 4,319,336
Equity securities (cost $17,551; $17,227)	879,175	730,693
Short-term investments (cost $78; $571)	283,817	178,491
Total investments	6,076,370	5,228,520
Cash	720,257	550,903
Accrued investment income	67,630	59,128
Current income taxes	0	4,081
Deferred income taxes	45,854	33,013
Other assets	81,620	57,915
Total assets	8,310,632	7,103,397
Liabilities
Notes payable	574,128	573,729
Current income taxes	20,752	0
Other liabilities	321,669	270,711
Total liabilities	6,364,108	5,555,252
Commitments and contingencies
Shareholders’ equity:
Common stock	99,699	98,947
Retained earnings	1,846,825	1,449,198
Total shareholders’ equity	1,946,524	1,548,145	$ 1,522,131
Total liabilities and shareholders’ equity	8,310,632	7,103,397
Amortized cost on fixed maturities trading investments	4,982,459	4,394,983
Cost - equity security trading investments	795,068	654,939
Cost - short-term investments	283,792	179,375
Parent Company
Investments [Abstract]
Fixed maturity securities (amortized cost $0; $9,979)	0	9,949
Equity securities (cost $17,551; $17,227)	29,387	28,027
Short-term investments (cost $78; $571)	78	571
Investment in subsidiaries	2,476,777	2,084,346
Total investments	2,506,242	2,122,893
Cash	19,316	4,698
Accrued investment income	12	141
Current income taxes	0	5,148
Deferred income taxes	0	1,544
Other assets	1,233	1,499
Total assets	2,574,699	2,151,587
Liabilities
Current income taxes	19,195	0
Deferred income taxes	4,837	0
Other liabilities	5,867	5,751
Total liabilities	628,175	603,442
Commitments and contingencies
Shareholders’ equity:
Common stock	99,699	98,947
Retained earnings	1,846,825	1,449,198
Total shareholders’ equity	1,946,524	1,548,145
Total liabilities and shareholders’ equity	2,574,699	2,151,587
Amortized cost on fixed maturities trading investments	0	9,979
Cost - equity security trading investments	17,551	17,227
Cost - short-term investments	78	571
Parent Company | Affiliated Entity
Investments [Abstract]
Amounts receivable	17,037	503
Income tax receivable	30,859	15,161
Liabilities
Notes payable	14,274	2,753
Income tax payable	9,874	21,209
Parent Company | Nonrelated Party
Liabilities
Notes payable	$ 574,128	$ 573,729

Condensed Financial Informati_3

Condensed Financial Information of Registrant (Schedule Of Condensed Financial Information Of Registrant, Statements Of Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues:
Net investment income	$ 279,989	$ 234,630	$ 168,356
Net realized investment gains (losses)	88,671	101,014	(488,080)
Total revenues	5,475,633	4,629,631	3,643,066
Expenses:
Other operating expenses	327,157	279,656	279,718
Total expenses	4,900,753	4,530,203	4,313,781
Income tax benefit	106,927	3,092	(158,043)
Net income (loss)	467,953	96,336	(512,672)
Parent Company
Revenues:
Net investment income	2,187	2,998	2,696
Net realized investment gains (losses)	3,046	1,431	(12,969)
Total revenues	5,233	4,429	(10,273)
Expenses:
Other operating expenses	2,535	2,526	2,446
Interest	30,697	24,129	17,178
Total expenses	33,232	26,655	19,624
Loss before income taxes and equity in net income (loss) of subsidiaries	(27,999)	(22,226)	(29,897)
Income tax benefit	(3,386)	(4,379)	(10,234)
Loss before equity in net income (loss) of subsidiaries	(24,613)	(17,847)	(19,663)
Equity in net income (loss) of subsidiaries	492,566	114,183	(493,009)
Net income (loss)	$ 467,953	$ 96,336	$ (512,672)

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, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net cash provided by operating activities	$ 1,037,117,000	$ 453,004,000	$ 352,589,000
Cash flows from investing activities:
Capital contribution to subsidiaries			0
Capital distribution from subsidiaries	300,000	6,200,000	2,900,000
Fixed maturity securities available for sale in nature:
Purchases	(1,720,986,000)	(784,752,000)	(1,794,817,000)
Sales	171,432,000	276,805,000	856,291,000
Calls or maturities	940,858,000	294,309,000	480,023,000
Equity securities available for sale in nature:
Purchases	(1,663,525,000)	(1,356,493,000)	(1,042,913,000)
Sales	1,550,229,000	1,356,132,000	1,154,523,000
Other, net	11,411,000	10,377,000	5,749,000
Net cash provided by (used in) investing activities	(796,656,000)	(295,453,000)	(316,384,000)
Cash flows from financing activities:
Dividends paid to shareholders	(70,326,000)	(70,322,000)	(105,482,000)
Proceeds from stock options exercised	752,000	0	0
Proceeds from bank loan	0	175,000,000	25,000,000
Net cash (used in) provided by financing activities	(71,107,000)	103,576,000	(81,986,000)
Net increase (decrease) in cash	169,354,000	261,127,000	(45,781,000)
Cash:
Beginning of year	550,903,000	289,776,000	335,557,000
End of year	720,257,000	550,903,000	289,776,000
SUPPLEMENTAL CASH FLOW DISCLOSURE
Interest paid	30,077,000	23,000,000	16,665,000
Income taxes (refunded) paid, net	94,935,000	(57,853,000)	(26,542,000)
Parent Company
Cash flows from operating activities:
Net cash provided by operating activities	(28,137,000)	(14,703,000)	225,000
Cash flows from investing activities:
Capital contribution to subsidiaries	(165,000)	(150,000,000)	0
Capital distribution from subsidiaries	0	0	3,431,433
Distributions received from special purpose entities	300,000	6,210,000	2,904,000
Dividends received from subsidiaries	100,000,000	0	0
Fixed maturity securities available for sale in nature:
Purchases	0	0	(11,905,000)
Sales	5,000,000	0	1,000,000
Calls or maturities	5,000,000	955,000	0
Equity securities available for sale in nature:
Purchases	(2,399,000)	(1,172,000)	(5,307,000)
Sales	4,057,000	25,848,000	48,215,000
Decrease (increase) in short-term investments	493,000	26,481,000	(6,268,000)
Other, net	43,000	183,000	667,000
Net cash provided by (used in) investing activities	112,329,000	(91,495,000)	32,737,000
Cash flows from financing activities:
Dividends paid to shareholders	(70,326,000)	(70,322,000)	(105,482,000)
Proceeds from stock options exercised	752,000	0	0
Proceeds from bank loan	0	175,000,000	25,000,000
Net cash (used in) provided by financing activities	(69,574,000)	104,678,000	(80,482,000)
Net increase (decrease) in cash	14,618,000	(1,520,000)	(47,520,000)
Cash:
Beginning of year	4,698,000	6,218,000	53,738,000
End of year	19,316,000	4,698,000	6,218,000
SUPPLEMENTAL CASH FLOW DISCLOSURE
Interest paid	30,009,000	22,959,000	16,611,000
Income taxes (refunded) paid, net	$ (7,075,000)	$ 1,630,000	$ (14,102,000)

Condensed Financial Informati_5

Condensed Financial Information of Registrant Condensed Financial Information of Registrant (Narratives) (Details)			12 Months Ended
	Feb. 11, 2025 USD ($)	Nov. 22, 2024	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Nov. 30, 2023 USD ($)	Nov. 18, 2022 USD ($)	Mar. 31, 2021 USD ($)	Mar. 08, 2017 USD ($)
Condensed Financial Statements, Captions [Line Items]
Capital distribution from subsidiaries			$ 300,000	$ 6,200,000	$ 2,900,000
Proceeds from dividends received			100,000,000	0	0
Payments for contributions to subsidiaries					0
Unsecured Notes One | Level 2 | Notes payable | Unsecured notes
Condensed Financial Statements, Captions [Line Items]
Unsecured debt			$ 375,000,000	375,000,000					$ 375,000,000
Interest rate (in percent)			4.40%						4.40%
Debt issuance costs									$ 3,400,000
Discount percent									99.847%
Interest rate, effective percentage									4.45%
Unsecured Notes Two | Revolving Credit Facility
Condensed Financial Statements, Captions [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity						$ 250,000,000	$ 200,000,000	$ 75,000,000
Drawn down amount under credit facility			$ 200,000,000	200,000,000
Unsecured Notes Two | Revolving Credit Facility | Consolidated Insurance Subsidiary
Condensed Financial Statements, Captions [Line Items]
Drawn down amount under credit facility contributed			$ 150,000,000
Unsecured Notes Two | Revolving Credit Facility | Subsequent Event
Condensed Financial Statements, Captions [Line Items]
Interest rate, effective percentage	5.79%
Drawn down amount under credit facility	$ 200,000,000
Undrawn portion of credit facility	$ 50,000,000
Unsecured Notes Two | Revolving Credit Facility | Minimum
Condensed Financial Statements, Captions [Line Items]
Debt to total capital ratio		0.20
Commitment fee on undrawn portion of facility		0.125%	0.15%
Unsecured Notes Two | Revolving Credit Facility | Maximum
Condensed Financial Statements, Captions [Line Items]
Debt to total capital ratio		0.30	0.228
Commitment fee on undrawn portion of facility		0.225%
Unsecured Notes Two | Level 2 | Notes payable | Unsecured notes
Condensed Financial Statements, Captions [Line Items]
Unsecured debt			$ 200,000,000	200,000,000
Unsecured Notes Two | Level 2 | Notes payable | Unsecured notes | Minimum
Condensed Financial Statements, Captions [Line Items]
Basis spread on variable rate			1.125%
Unsecured Notes Two | Level 2 | Notes payable | Unsecured notes | Maximum
Condensed Financial Statements, Captions [Line Items]
Basis spread on variable rate			1.50%
Parent Company
Condensed Financial Statements, Captions [Line Items]
Capital distribution from subsidiaries			$ 0	0	3,431,433
Payments for contributions to subsidiaries			$ 165,000	$ 150,000,000	$ 0

Supplemental Reinsurance Prem_2

Supplemental Reinsurance Premiums (Schedule of Property and Liability Insurance Earned Premiums) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract]
Direct amounts	$ 5,196,699	$ 4,368,342	$ 4,022,611
Ceded to other companies	(136,698)	(109,445)	(80,950)
Assumed	15,455	15,481	10,821
Net premiums earned	$ 5,075,456	$ 4,274,378	$ 3,952,482

Subsequent Event (Details)

Subsequent Event (Details) - Subsequent Event - USD ($) $ in Millions	1 Months Ended
	Jan. 31, 2025	Feb. 10, 2025
Subsequent Event [Line Items]
Reinsurance program, limits on a per occurrence basis	$ 1,290
Reinsurance program, retention per occurrence basis	150
Reinsurance, coverage limit	20
Reinsurance, loss reinsurance treaty available to offset losses, loss excess amount	$ 5
Reinsurance limit of coverage layer placed as parametrics coverage (in percent)	1%
Reinsurance limit	$ 650
Reinsurance, losses for paramedic coverage not eligible for reinsurance coverage	6.5
Reinsurance, retention and reinsurance limit	1,440
Total reinstatement premium	101
Reinsurance Contract [Axis]: Reinsurance, Second Event
Subsequent Event [Line Items]
Reinsurance program, limits on a per occurrence basis	$ 1,238
Co-participation for losses of coverage layer (in percent)	8%
Co-participation in losses for coverage layer	$ 1,300
Fire
Subsequent Event [Line Items]
Amount paid out related to Wildfires		$ 800
Amount collected from reinsurers		500
Cash and short-term investments on-hand		$ 1,000
Minimum | Fire
Subsequent Event [Line Items]
Estimated gross catastrophe losses	1,600
Estimated net catastrophe losses	155
Reinsurance program, limits on a per occurrence basis	$ 10
Minimum | Fire, Palisades Wildfires
Subsequent Event [Line Items]
Losses attributable to catastrophic event (in percent)	55%
Minimum | Fire, Eaton Wildfires
Subsequent Event [Line Items]
Losses attributable to catastrophic event (in percent)	40%
Maximum | Fire
Subsequent Event [Line Items]
Estimated gross catastrophe losses	$ 2,000
Estimated net catastrophe losses	325
Reinsurance program, limits on a per occurrence basis	$ 20
Maximum | Fire, Palisades Wildfires
Subsequent Event [Line Items]
Losses attributable to catastrophic event (in percent)	60%
Maximum | Fire, Eaton Wildfires
Subsequent Event [Line Items]
Losses attributable to catastrophic event (in percent)	45%