Donegal (DGICA) 10-Q 7 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 30, 2019
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Trading Symbol	DGICA
Entity Registrant Name	DONEGAL GROUP INC
Entity Central Index Key	0000800457
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Class A Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		22,906,020
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		5,576,775

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Fixed maturities
Held to maturity, at amortized cost	$ 407,432,729	$ 402,798,518
Available for sale, at fair value	550,021,624	526,558,304
Equity securities, at fair value	49,422,373	43,667,009
Investment in affiliate		41,025,975
Short-term investments, at cost, which approximates fair value	40,837,591	16,748,760
Total investments	1,047,714,317	1,030,798,566
Cash	44,607,905	52,594,461
Accrued investment income	7,093,602	6,561,199
Premiums receivable	171,515,978	156,702,250
Reinsurance receivable	350,704,629	343,369,065
Deferred policy acquisition costs	62,346,706	60,615,127
Deferred tax asset, net	10,387,958	13,069,755
Prepaid reinsurance premiums	140,711,936	135,379,777
Property and equipment, net	4,604,180	4,690,704
Accounts receivable - securities	43,662	261,829
Federal income taxes receivable	16,160,576	19,032,604
Goodwill	5,625,354	5,625,354
Other intangible assets	958,010	958,010
Other	2,544,583	2,419,566
Total assets	1,865,019,396	1,832,078,267
Liabilities
Unpaid losses and loss expenses	836,519,776	814,665,224
Unearned premiums	523,702,929	506,528,606
Accrued expenses	21,498,570	25,442,146
Reinsurance balances payable	2,745,903	3,882,193
Borrowings under lines of credit	35,000,000	60,000,000
Cash dividends declared to stockholders		3,948,484
Subordinated debentures	5,000,000	5,000,000
Accounts payable - securities		1,003,810
Due to affiliate	7,965,600	10,874,540
Other	3,382,857	1,863,363
Total liabilities	1,435,815,635	1,433,208,366
Stockholders' Equity
Preferred stock, $.01 par value, authorized 2,000,000 shares; none issued
Additional paid-in capital	262,249,291	261,258,423
Accumulated other comprehensive loss	(7,759,586)	(14,228,059)
Retained earnings	215,625,394	192,751,208
Treasury stock, at cost	(41,226,357)	(41,226,357)
Total stockholders' equity	429,203,761	398,869,901
Total liabilities and stockholders' equity	1,865,019,396	1,832,078,267
Class A Common Stock [Member]
Stockholders' Equity
Common stock value	258,527	258,194
Total stockholders' equity	258,527	258,194
Class B Common Stock [Member]
Stockholders' Equity
Common stock value	56,492	56,492
Total stockholders' equity	$ 56,492	$ 56,492

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	0	0
Class A Common Stock [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	25,852,675	25,819,341
Common stock, shares outstanding	22,850,087	22,816,753
Class B Common Stock [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	10,000,000	10,000,000
Common stock, shares issued	5,649,240	5,649,240
Common stock, shares outstanding	5,576,775	5,576,775

Consolidated Statements of Inco

Consolidated Statements of Income (Loss) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues:
Net premiums earned	$ 188,073,242	$ 181,764,580
Investment income, net of investment expenses	7,048,503	6,378,369
Net investment gains (losses)	18,097,113	(918,339)
Lease income	111,099	123,593
Installment payment fees	1,088,917	1,347,961
Equity in earnings of Donegal Financial Services Corporation	295,000	632,114
Total revenues	214,713,874	189,328,278
Expenses:
Net losses and loss expenses	123,110,656	156,583,268
Amortization of deferred policy acquisition costs	30,592,000	29,665,000
Other underwriting expenses	30,684,883	29,322,638
Policyholder dividends	2,349,648	1,302,183
Interest	565,292	464,148
Other expenses, net	566,371	526,212
Total expenses	187,868,850	217,863,449
Income (loss) before income tax expense (benefit)	26,845,024	(28,535,171)
Income tax expense (benefit)	3,821,860	(10,357,093)
Net income (loss)	$ 23,023,164	$ (18,178,078)
Class A Common Stock [Member]
Earnings (loss) per common share:
Common stock - basic and diluted	$ 0.82	$ (0.66)
Class B Common Stock [Member]
Earnings (loss) per common share:
Common stock - basic and diluted	$ 0.75	$ (0.60)

Consolidated Statements of In_2

Consolidated Statements of Income (Loss) (Parenthetical) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net investment gains (losses)	$ 18,097,113	$ (918,339)
Income tax expense (benefit)	3,821,860	(10,357,093)
Reclassification out of Accumulated Other Comprehensive Income [Member]
Net investment gains (losses)	(39,264)	(918,339)
Income tax expense (benefit)	$ 8,245	$ 192,851

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 23,023,164	$ (18,178,078)
Unrealized gain (loss) on securities:
Unrealized holding gain (loss) during the period, net of income tax expense (benefit)	6,437,454	(7,328,473)
Reclassification adjustment for gains included in net income, net of income tax benefit	31,019	725,488
Other comprehensive income (loss)	6,468,473	(6,602,985)
Comprehensive income (loss)	$ 29,491,637	$ (24,781,063)

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Comprehensive Income [Abstract]
Unrealized holding gain (loss) during the period, net of income tax expense (benefit) during the period	$ 1,711,222	$ (1,948,072)
Income tax benefit on reclassification adjustment for gains	$ 8,245	$ 192,851

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Total	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Class A Common Stock [Member]	Class B Common Stock [Member]
Beginning balance at Dec. 31, 2017	$ 448,696,104	$ 255,401,558	$ (2,684,275)	$ 236,893,041	$ (41,226,357)	$ 255,645	$ 56,492
Beginning balance, shares at Dec. 31, 2017						25,564,481	5,649,240
Issuance of common stock (stock compensation plans)	422,610	422,318				$ 292
Issuance of common stock (stock compensation plans), shares						29,162
Share-based compensation	1,024,650	1,024,328				$ 322
Share-based compensation, shares						32,176
Net income	(18,178,078)			(18,178,078)
Cash dividends declared	(8,587)			(8,587)
Grant of stock options		187,444		(187,444)
Reclassification of equity unrealized gains			(4,918,655)	4,918,655
Other comprehensive income (loss)	(6,602,985)		(6,602,985)
Ending balance at Mar. 31, 2018	425,353,714	257,035,648	(14,205,915)	223,437,587	(41,226,357)	$ 256,259	$ 56,492
Ending balance, shares at Mar. 31, 2018						25,625,819	5,649,240
Beginning balance at Dec. 31, 2018	398,869,901	261,258,423	(14,228,059)	192,751,208	(41,226,357)	$ 258,194	$ 56,492
Beginning balance, shares at Dec. 31, 2018						25,819,341	5,649,240
Issuance of common stock (stock compensation plans)	404,055	403,722				$ 333
Issuance of common stock (stock compensation plans), shares						33,334
Share-based compensation	442,920	442,920
Net income	23,023,164			23,023,164
Cash dividends declared	(4,752)			(4,752)
Grant of stock options		144,226		(144,226)
Other comprehensive income (loss)	6,468,473		6,468,473
Ending balance at Mar. 31, 2019	$ 429,203,761	$ 262,249,291	$ (7,759,586)	$ 215,625,394	$ (41,226,357)	$ 258,527	$ 56,492
Ending balance, shares at Mar. 31, 2019						25,852,675	5,649,240

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash Flows from Operating Activities:
Net income (loss)	$ 23,023,164	$ (18,178,078)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, amortization and other non-cash items	1,460,943	1,503,607
Net realized investment (gains) losses	(18,097,113)	918,339
Equity in earnings of Donegal Financial Services Corporation	(295,000)	(632,114)
Changes in assets and liabilities:
Losses and loss expenses	21,854,552	50,891,171
Unearned premiums	17,174,323	20,564,895
Premiums receivable	(14,813,728)	(2,812,917)
Deferred acquisition costs	(1,731,579)	(2,089,238)
Deferred income taxes	962,330	74,728
Reinsurance receivable	(7,335,564)	(15,198,971)
Prepaid reinsurance premiums	(5,332,159)	(7,073,785)
Accrued investment income	(532,403)	(373,239)
Due to affiliate	(2,908,940)	(3,122,092)
Reinsurance balances payable	(1,136,290)	1,915,675
Current income taxes	2,872,028	(8,153,590)
Accrued expenses	(3,943,576)	(6,903,271)
Other, net	233,485	263,872
Net adjustments	(11,568,691)	29,773,070
Net cash provided by operating activities	11,454,473	11,594,992
Cash Flows from Investing Activities:
Purchases of fixed maturities, held to maturity	(8,396,937)	(13,357,990)
Purchases of fixed maturities, available for sale	(53,176,164)	(19,117,414)
Purchases of equity securities, available for sale	(30,672)	(1,792,398)
Maturity of fixed maturities:
Held to maturity	3,852,973	2,556,070
Available for sale	15,904,570	24,098,751
Sales of fixed maturities, available for sale	19,527,660	208,817
Sales of equity securities, available for sale	20,537,415	333,792
Net sales (purchases) of property and equipment	1,171,305	(63,921)
Net (purchases) sales of short-term investments	(24,088,831)	1,597,800
Net cash provided by (used in) investing activities	9,224,092	(5,536,493)
Cash Flows from Financing Activities:
Cash dividends paid	(3,953,236)	(3,850,407)
Issuance of common stock	288,115	754,297
Payments on lines of credit	(25,000,000)
Net cash used in financing activities	(28,665,121)	(3,096,110)
Net (decrease) increase in cash	(7,986,556)	2,962,389
Cash at beginning of period	52,594,461	37,833,435
Cash at end of period	44,607,905	40,795,824
Cash paid during period - Interest	325,325	261,816
Net cash paid during period - Taxes	0	$ 0
Donegal Financial Services Corporation [Member]
Maturity of fixed maturities:
Sale of investment	19,863,949
Dividends received	$ 14,058,824

Organization

Organization	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	1 - Organization Donegal Mutual Insurance Company (“Donegal Mutual”) organized us as an insurance holding company on August 26, 1986. Our insurance subsidiaries, Atlantic States Insurance Company (“Atlantic States”), Southern Insurance Company of Virginia (“Southern”), Le Mars Insurance Company (“Le Mars”), the Peninsula Insurance Group (“Peninsula”), which consists of Peninsula Indemnity Company and The Peninsula Insurance Company, Sheboygan Falls Insurance Company (“Sheboygan”) and Michigan Insurance Company (“MICO”), write property and casualty insurance exclusively through independent insurance agents in certain Mid-Atlantic, At March 31, 2019, we had three segments: our investment function, our personal lines of insurance and our commercial lines of insurance. The personal lines products of our insurance subsidiaries consist primarily of homeowners and private passenger automobile policies. The commercial lines products of our insurance subsidiaries consist primarily of commercial automobile, commercial multi-peril and workers’ compensation policies. At March 31, 2019, Donegal Mutual held approximately 43% of our outstanding Class A common stock and approximately Atlantic States, our largest subsidiary, participates in a pooling agreement with Donegal Mutual. Under the pooling agreement, the two companies pool their insurance business and each company receives an allocated percentage of the pooled business. Atlantic States has an 80% share of the results of the pooled business, and Donegal Mutual has a 20% share of the results of the pooled business. The same executive management and underwriting personnel administer products, classes of business underwritten, pricing practices and underwriting standards of Donegal Mutual and our insurance subsidiaries. In addition, as the Donegal Insurance Group, Donegal Mutual and our insurance subsidiaries share a combined business plan to achieve market penetration and underwriting profitability objectives. The products our insurance subsidiaries and Donegal Mutual market are generally complementary, thereby allowing the Donegal Insurance Group to offer a broader range of products to a given market and to expand the Donegal Insurance Group’s ability to service entire personal lines or commercial lines accounts. Distinctions within the products Donegal Mutual and our insurance subsidiaries offer relate generally to specific risk profiles targeted within similar classes of business, such as preferred tier products versus standard tier products, but we do not allocate all of the standard risk gradients to any specific company within the Donegal Insurance Group. Therefore, the underwriting profitability of the business the individual companies write directly will vary. However, because the risk characteristics of all business Donegal Mutual and Atlantic States write directly are homogenized within the underwriting pool, Donegal Mutual and Atlantic States share the underwriting results in proportion to their respective participation in the underwriting pool. In July 2018, we consolidated the branch office operations of Peninsula into our home office operations to achieve economies of scale and enhance service levels for policyholders of Peninsula. We recorded a restructuring charge for employee termination costs associated with the Peninsula consolidation of approximately $1.9 million and paid approximately $1.5 million of these costs in 2018. We paid approximately $65,000 of these costs in the first quarter of 2019 and had an accrual of approximately $325,000 remaining at March 31, 2019. We entered into a definitive purchase agreement for the sale of Peninsula’s branch office in 2018. The sale was completed in January 2019, and we received net proceeds of $1.2 million. We recorded an impairment charge of $1.1 million in other expenses in 2018 related to this real estate transaction and included the $1.2 million fair value of the real estate we held for sale in other assets at December 31, 2018. We and Donegal Mutual sold DFSC to Northwest Bancshares, Inc. (“Northwest”) on March 8, 2019, resulting in proceeds valued at approximately $85.8 million in a combination of cash and Northwest common stock. Immediately prior to the closing of the merger, DFSC paid a dividend of approximately $29.2 million to us and Donegal Mutual. As the owner of 48.2% of DFSC’s common stock, we received a dividend payment from DFSC of approximately $14.1 million and consideration from Northwest valued at approximately $41.4 million that included a combination of cash in the amount of $20.5 million and Northwest common stock with a fair value at the closing date of $20.9 million. We recorded a gain of $12.7 million from the sale of DFSC in our results of operations for the first quarter of 2019. We sold the Northwest common stock that we received as part of the consideration during the first quarter of 2019. This transaction represented the culmination of a banking strategy that began with the formation of DFSC in 2000. On July 18, 2013, our board of directors authorized a share repurchase program pursuant to which we have the authority to purchase up to 500,000 shares of our Class A common stock at prices prevailing from time to time in the open market subject to the provisions of applicable rules of the Securities and Exchange Commission (“SEC”) and in privately negotiated transactions. We did not purchase any shares of our Class A common stock under this program during the three months ended March 31, 2019 or 2018. We have purchased a total of 57,658 shares of our Class A common stock under this program from its inception through March 31, 2019.

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	2 - Basis of Presentation Our financial information for the interim periods included in this Form 10-Q 10-Q We recommend you read the interim financial statements we include in this Form 10-Q 10-K

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Earnings Per Share	3 - Earnings Per Share We have two classes of common stock, which we refer to as our Class A common stock and our Class B common stock. Our certificate of incorporation provides that whenever our board of directors declares a dividend on our Class B common stock, our board of directors shall simultaneously declare a dividend on our Class A common stock that is payable to the holders of our Class A common stock at the same time and as of the same record date at a rate that is at least 10% greater than the rate at which our board of directors declared a dividend on our Class B common stock. Accordingly, we use the two-class two-class The table below presents for the periods indicated a reconciliation of the numerators and denominators we used to compute basic and diluted net income per share for our Class A common stock and our Class B common stock: Three Months Ended March 31, 2019 2018 Class A Class B Class A Class B (in thousands, except per share data) Basic earnings (loss) per share: Numerator: Allocation of net income (loss) $ 18,843 $ 4,180 $ (14,848 ) $ (3,330 ) Denominator: Weighted-average shares outstanding 22,850 5,577 22,615 5,577 Basic earnings (loss) per share $ 0.82 $ 0.75 $ (0.66 ) $ (0.60 ) Diluted earnings (loss) per share: Numerator: Allocation of net income (loss) $ 18,843 $ 4,180 $ (14,848 ) $ (3,330 ) Denominator: Number of shares used in basic computation 22,850 5,577 22,615 5,577 Weighted-average shares effect of dilutive securities: Director and employee stock options 71 — — — Number of shares used in diluted computation 22,921 5,577 22,615 5,577 Diluted earnings (loss) per share $ 0.82 $ 0.75 $ (0.66 ) $ (0.60 ) We did not include outstanding options to purchase 8,967,857 shares of Class A common stock in our computation of diluted earnings per share for the three months ended March 31, 2019 because the exercise price of the options exceeded the average market price of our Class A common stock during the period. We did not include any effect of dilutive securities in the computation of diluted earnings per share for the three months ended March 31, 2018 because we sustained a net loss for this period.

Reinsurance

Reinsurance	3 Months Ended
	Mar. 31, 2019
Insurance [Abstract]
Reinsurance	4 - Reinsurance Atlantic States and Donegal Mutual have participated in a pooling agreement since 1986 under which they pool substantially all of their direct premiums written, and Atlantic States and Donegal Mutual then share the underwriting results of the pool in accordance with the terms of the pooling agreement. Atlantic States has an 80% share of the results of the pool, and Donegal Mutual has a 20% share of the results of the pool. Our insurance subsidiaries and Donegal Mutual implemented a combined third-party reinsurance program effective January 1, 2019. The coverage and parameters of the fully consolidated program are common to all of our insurance subsidiaries and Donegal Mutual. Our insurance subsidiaries use several different reinsurers, all of which have an A.M. Best rating of A- A- • excess of loss reinsurance, under which the losses of Donegal Mutual and our insurance subsidiaries are automatically reinsured, through a series of contracts, over a set retention of $1.0 million for property losses and a retention of $2.0 million for casualty losses (including workers’ compensation losses); and • catastrophe reinsurance, under which Donegal Mutual and our insurance subsidiaries recover, through a series of reinsurance agreements, 100% of an accumulation of many losses resulting from a single event, including natural disasters, over a set retention of $10.0 million and after exceeding an annual aggregate deductible of $1.2 million up to aggregate losses of $190.0 million per occurrence. Our insurance subsidiaries and Donegal Mutual also purchase facultative reinsurance to cover exposures in excess of the covered limits of their third-party reinsurance agreements. In addition to the pooling agreement and third-party reinsurance, our insurance subsidiaries have a catastrophe reinsurance agreement with Donegal Mutual, under which each of our insurance subsidiaries recover 100% of an accumulation of multiple losses resulting from a single event, including natural disasters, over a set retention of $2.0 million up to aggregate losses of $8.0 million per occurrence. The agreement also provides additional coverage for an accumulation of losses from a single event including a combination of our insurance subsidiaries over a combined retention of $5.0 million.

Investments

Investments	3 Months Ended
	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Investments	5 - Investments The amortized cost and estimated fair values of our fixed maturities at March 31, 2019 were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (in thousands) Held to Maturity U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 79,159 $ 543 $ 477 $ 79,225 Obligations of states and political subdivisions 160,241 10,792 51 170,982 Corporate securities 129,526 1,951 1,438 130,039 Mortgage-backed securities 38,507 244 150 38,601 Totals $ 407,433 $ 13,530 $ 2,116 $ 418,847 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (in thousands) Available for Sale U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 30,323 $ 36 $ 322 $ 30,037 Obligations of states and political subdivisions 68,077 1,610 116 69,571 Corporate securities 143,563 1,202 1,215 143,550 Mortgage-backed securities 309,502 772 3,410 306,864 Totals $ 551,465 $ 3,620 $ 5,063 $ 550,022 At March 31, 2019, our holdings of obligations of states and political subdivisions included general obligation bonds with an aggregate fair value of $155.8 million and an amortized cost of $148.2 million. Our holdings at March 31, 2019 also included special revenue bonds with an aggregate fair value of $84.8 million and an amortized cost of $80.1 million. With respect to both categories of those bonds at March 31, 2019, we held no securities of any issuer that comprised more than 10% of our holdings of either bond category. Education bonds and water and sewer utility bonds represented 49% and 30%, respectively, of our total investments in special revenue bonds based on the carrying values of these investments at March 31, 2019. Many of the issuers of the special revenue bonds we held at March 31, 2019 have the authority to impose ad valorem taxes. In that respect, many of the special revenue bonds we held at March 31, 2019 are similar to general obligation bonds. The amortized cost and estimated fair values of our fixed maturities at December 31, 2018 were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (in thousands) Held to Maturity U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 76,222 $ 175 $ 1,087 $ 75,310 Obligations of states and political subdivisions 159,292 8,237 704 166,825 Corporate securities 127,010 396 4,391 123,015 Mortgage-backed securities 40,274 64 450 39,888 Totals $ 402,798 $ 8,872 $ 6,632 $ 405,038 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (in thousands) Available for Sale U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 45,188 $ 25 $ 1,003 $ 44,210 Obligations of states and political subdivisions 73,761 1,762 307 75,216 Corporate securities 140,689 203 3,059 137,833 Mortgage-backed securities 275,475 149 6,325 269,299 Totals $ 535,113 $ 2,139 $ 10,694 $ 526,558 At December 31, 2018, our holdings of obligations of states and political subdivisions included general obligation bonds with an aggregate fair value of $157.7 million and an amortized cost of $152.2 million. Our holdings also included special revenue bonds with an aggregate fair value of $84.3 million and an amortized cost of $80.9 million. With respect to both categories of bonds, we held no securities of any issuer that comprised more than 10% of that category at December 31, 2018. Education bonds and water and sewer utility bonds represented 49% and 29%, respectively, of our total investments in special revenue bonds based on their carrying values at December 31, 2018. Many of the issuers of the special revenue bonds we held at December 31, 2018 have the authority to impose ad valorem taxes. In that respect, many of the special revenue bonds we held are similar to general obligation bonds. We made reclassifications from available for sale to held to maturity of certain fixed maturities at fair value on November 30, 2013. We segregated within accumulated other comprehensive loss the net unrealized losses of $15.1 million arising prior to the November 30, 2013 reclassifications. We are amortizing this balance over the remaining life of the related securities as an adjustment to yield in a manner consistent with the accretion of discount on the same fixed maturities. We recorded amortization of $270,543 and $294,196 in other comprehensive income (loss) during the three months ended March 31, 2019 and 2018, respectively. At March 31, 2019 and December 31, 2018, net unrealized losses of $8.4 million and $8.6 million, respectively, remained within accumulated other comprehensive loss. We show below the amortized cost and estimated fair value of our fixed maturities at March 31, 2019 by contractual maturity. Expected maturities may differ from contractual maturities because issuers of the securities may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Cost Estimated Fair (in thousands) Held to maturity Due in one year or less $ 22,709 $ 22,708 Due after one year through five years 73,546 75,198 Due after five years through ten years 149,120 153,022 Due after ten years 123,551 129,318 Mortgage-backed securities 38,507 38,601 Total held to maturity $ 407,433 $ 418,847 Available for sale Due in one year or less $ 40,681 $ 40,926 Due after one year through five years 87,436 87,974 Due after five years through ten years 100,042 100,172 Due after ten years 13,804 14,086 Mortgage-backed securities 309,502 306,864 Total available for sale $ 551,465 $ 550,022 The cost and estimated fair values of our equity securities at March 31, 2019 were as follows: Cost Gross Gains Gross Losses Estimated Fair (in thousands) Equity securities $ 42,412 $ 7,653 $ 643 $ 49,422 The cost and estimated fair values of our equity securities at December 31, 2018 were as follows: Cost Gross Gains Gross Losses Estimated Fair (in thousands) Equity securities $ 40,943 $ 4,818 $ 2,094 $ 43,667 Gross investment gains and losses before applicable income taxes for the three months ended March 31, 2019 and 2018 were as follows: Three Months Ended March 31, 2019 2018 (in thousands) Gross investment gains: Fixed maturities $ 358 $ — Equity securities 5,986 1,145 Investment in affiliate 12,662 — 19,006 1,145 Gross investment losses: Fixed maturities 318 44 Equity securities 591 2,019 909 2,063 Net investment gains (losses) $ 18,097 $ (918 ) We recognized $6.0 million of gains and $7,040 of losses on equity securities we held at March 31, 2019 in net investment gains for the three months ended March 31, 2019. We recognized $1.0 million of gains and $2.0 million of losses on equity securities held at March 31, 2018 in net investment losses for the three months ended March 31, 2018. We held fixed maturities with unrealized losses representing declines that we considered temporary at March 31, 2019 as follows: Less Than 12 Months More Than 12 Months Fair Value Unrealized Losses Fair Value Unrealized Losses (in thousands) U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 1,475 $ 1 $ 54,656 $ 798 Obligations of states and political subdivisions 1,260 14 15,040 153 Corporate securities 23,335 273 98,653 2,380 Mortgage-backed securities 19,724 28 210,423 3,532 Totals $ 45,794 $ 316 $ 378,772 $ 6,863 We held fixed maturities with unrealized losses representing declines that we considered temporary at December 31, 2018 as follows: Less Than 12 Months More Than 12 Months Fair Value Unrealized Losses Fair Value Unrealized Losses (in thousands) U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 26,342 $ 166 $ 54,900 $ 1,924 Obligations of states and political subdivisions 28,322 477 21,560 534 Corporate securities 149,270 4,483 59,397 2,968 Mortgage-backed securities 82,594 913 181,379 5,862 Totals $ 286,528 $ 6,039 $ 317,236 $ 11,288 We make estimates concerning the valuation of our investments and the recognition of other-than-temporary declines in the value of our investments. For equity securities, we measure investments at fair value, and we recognize changes in fair value in our results of operations. With respect to a debt security that is in an unrealized loss position, we first assess if we intend to sell the debt security. If we determine we intend to sell the debt security, we recognize the impairment loss in our results of operations. If we do not intend to sell the debt security, we determine whether it is more likely than not that we will be required to sell the debt security prior to recovery. If we determine it is more likely than not that we will be required to sell the debt security prior to recovery, we recognize the impairment loss in our results of operations. If we determine it is more likely than not that we will not be required to sell the debt security prior to recovery, we then evaluate whether a credit loss has occurred with respect to that security. We determine whether a credit loss has occurred by comparing the amortized cost of the debt security to the present value of the cash flows we expect to collect. If we expect a cash flow shortfall, we consider that a credit loss has occurred. If we determine that a credit loss has occurred, we consider the impairment to be other than temporary. We then recognize the amount of the impairment loss related to the credit loss in our results of operations, and we recognize the remaining portion of the impairment loss in our other comprehensive income, net of applicable taxes. In addition, we may write down securities in an unrealized loss position based on a number of other factors, including when the fair value of an investment is significantly below its cost, when the financial condition of the issuer of a security has deteriorated, the occurrence of industry, issuer or geographic events that have negatively impacted the value of a security and rating agency downgrades. We held 336 debt securities that were in an unrealized loss position at March 31, 2019. Based upon our analysis of general market conditions and underlying factors impacting these debt securities, we considered these declines in value to be temporary. We amortize premiums and discounts on debt securities over the life of the security as an adjustment to yield using the effective interest method. We compute realized investment gains and losses using the specific identification method. We amortize premiums and discounts on mortgage-backed debt securities using anticipated prepayments.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Segment Information	6 - Segment Information We evaluate the performance of our personal lines and commercial lines segments based upon the underwriting results of our insurance subsidiaries using statutory accounting principles (“SAP”) that various state insurance departments prescribe or permit. Our management uses SAP to measure the performance of our insurance subsidiaries instead of United States generally accepted accounting principles (“GAAP”). SAP financial measures are considered non-GAAP Financial data by segment for the three months ended March 31, 2019 and 2018 is as follows: Three Months Ended March 31, 2019 2018 (in thousands) Revenues: Premiums earned: Commercial lines $ 91,481 $ 82,226 Personal lines 96,592 99,539 Premiums earned 188,073 181,765 Net investment income 7,049 6,378 Investment gains (losses) 18,097 (918 ) Equity in earnings of DFSC 295 632 Other 1,200 1,471 Total revenues $ 214,714 $ 189,328 Income (loss) before income tax expense (benefit): Underwriting income (loss): Commercial lines $ (1,688 ) $ (20,210 ) Personal lines 2,473 (17,267 ) SAP underwriting income (loss) 785 (37,477 ) GAAP adjustments 551 2,368 GAAP underwriting income (loss) 1,336 (35,109 ) Net investment income 7,049 6,378 Investment gains (losses) 18,097 (918 ) Equity in earnings of DFSC 295 632 Other 68 482 Income (loss) before income tax expense (benefit) $ 26,845 $ (28,535 )

Borrowings

Borrowings	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Borrowings	7 - Borrowings Lines of Credit In March 2019, we terminated our previous credit agreement with Manufacturers and Traders Trust Company (“M&T”) and entered into a new credit agreement with M&T. The new credit agreement relates to a $30.0 million unsecured revolving line of credit. The line of credit expires in July 2020. At March 31, 2019, we had no outstanding borrowings from M&T and had the ability to borrow up to $30.0 million at interest rates equal to M&T’s current prime rate or the then-current LIBOR rate plus 2.25%. We pay a fee of 0.15% per annum on the loan commitment amount regardless of usage. The credit agreement requires our compliance with certain covenants. These covenants include minimum levels of our net worth, leverage ratio, statutory surplus and the A.M. Best ratings of our insurance subsidiaries. In addition, Atlantic States has guaranteed our payment obligations under the new credit agreement. We complied with all requirements of the credit agreement during the three months ended March 31, 2019. Atlantic States is a member of the FHLB of Pittsburgh. Through its membership, Atlantic States has the ability to issue debt to the FHLB of Pittsburgh in exchange for cash advances. Atlantic States had $35.0 million in outstanding advances at March 31, 2019. The interest rate on the advances was 2.76% at March 31, 2019. The table below presents the amount of FHLB of Pittsburgh stock Atlantic States purchased, collateral pledged and assets related to Atlantic States’ membership in the FHLB of Pittsburgh at March 31, 2019. FHLB of Pittsburgh stock purchased and owned $ 1,631,800 Collateral pledged, at par (carrying value $39,609,997) 39,987,256 Borrowing capacity currently available 3,101,972 Subordinated Debentures Donegal Mutual holds a $5.0 million surplus note that MICO issued to increase MICO’s statutory surplus. The surplus note carries an interest rate of 5.00%, and any repayment of principal or payment of interest on the surplus note requires prior approval of the Michigan Department of Insurance and Financial Services.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	8 - Share–Based Compensation We measure all share-based payments to employees, including grants of stock options, and use a fair-value-based method for the recording of related compensation expense in our results of operations. In determining the expense we record for stock options granted to directors and employees of our subsidiaries and affiliates, we estimate the fair value of each option award on the date of grant using the Black-Scholes option pricing model. The significant assumptions we utilize in applying the Black-Scholes option pricing model are the risk-free interest rate, the expected term, the dividend yield and the expected volatility. We charged compensation expense related to our stock compensation plans against income before income taxes of $442,653 and $520,679 for the three months ended March 31, 2019 and 2018, respectively, with a corresponding income tax benefit of $92,957 and $109,343, respectively. At March 31, 2019, we had $2.0 million of unrecognized compensation expense related to nonvested share-based compensation granted under our stock compensation plans that we expect to recognize over a weighted average period of approximately 1.8years. We did not received any cash from option exercises under all stock compensation plans during the three months ended March 31, 2019. We received cash from option exercises under all stock compensation plans during the three months ended March 31, 2018 of $478,650. We realized actual tax benefits for the tax deductions related to those option exercises of $0

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	9 - Fair Value Measurements We account for financial assets using a framework that establishes a hierarchy that ranks the quality and reliability of the inputs, or assumptions, we use in the determination of fair value, and we classify financial assets and liabilities carried at fair value in one of the following three categories: Level 1 – quoted prices in active markets for identical assets and liabilities; Level 2 – directly or indirectly observable inputs other than Level 1 quoted prices; and Level 3 – unobservable inputs not corroborated by market data. For investments that have quoted market prices in active markets, we use the quoted market price as fair value and include these investments in Level 1 of the fair value hierarchy. We classify publicly-traded equity securities as Level 1. When quoted market prices in active markets are not available, we base fair values on quoted market prices of comparable instruments or price estimates we obtain from independent pricing services and include these investments in Level 2 of the fair value hierarchy. We classify our fixed maturity investments as Level 2. Our fixed maturity investments consist of U.S. Treasury securities and obligations of U.S. government corporations and agencies, obligations of states and political subdivisions, corporate securities and mortgage-backed securities. We present our investments in available-for-sale We present our cash and short-term investments at estimated fair value. We classify these items as Level 1. The carrying values we report in our balance sheet for premium receivables and reinsurance receivables and payables for premiums and paid losses and loss expenses approximate their fair values. The carrying amounts we report in our balance sheets for our subordinated debentures and borrowings under lines of credit approximate their fair values. We classify these items as Level 3. We evaluate our assets and liabilities to determine the appropriate level at which to classify them for each reporting period. The following table presents our fair value measurements for our investments in available-for-sale Fair Value Measurements Using Fair Value Quoted Prices in Significant Significant (in thousands) U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 30,037 $ — $ 30,037 $ — Obligations of states and political subdivisions 69,571 — 69,571 — Corporate securities 143,550 — 143,550 — Mortgage-backed securities 306,864 — 306,864 — Equity securities 34,711 32,365 2,346 — Total investments in the fair value hierarchy 584,733 32,365 552,368 — Investment measured at net asset value 14,711 — — — Totals $ 599,444 $ 32,365 $ 552,368 $ — The following table presents our fair value measurements for our investments in available-for-sale Fair Value Measurements Using Fair Value Quoted Prices in Significant Significant (in thousands) U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 44,210 $ — $ 44,210 $ — Obligations of states and political subdivisions 75,216 — 75,216 — Corporate securities 137,833 — 137,833 — Mortgage-backed securities 269,299 — 269,299 — Equity securities 30,675 28,351 2,324 — Total investments in the fair value hierarchy 557,233 28,351 528,882 — Investment measured at net asset value 12,992 — — — Totals $ 570,225 $ 28,351 $ 528,882 $ —

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	10 - Income Taxes At March 31, 2019 and December 31, 2018, respectively, we had no material unrecognized tax benefits or accrued interest and penalties. Tax years 2015 through 2018 remained open for examination at March 31, 2019. We provide a valuation allowance when we believe it is more likely than not that we will not realize some portion of our tax assets. We established a valuation allowance of $264,467 related to a portion of the net operating loss carryforward of Le Mars at January 1, 2004 and a valuation allowance of $8.1 million for our net state operating loss carryforward. We have determined that we are not required to establish a valuation allowance for our other deferred tax assets of $26.5 million and $32.4 million at March 31, 2019 and December 31, 2018, respectively, because it is more likely than not that we will realize these deferred tax assets through reversals of existing temporary differences, future taxable income and the implementation of tax planning strategies. Our deferred tax assets include a net operating loss carryforward of $1.2 million related to Le Mars, which will begin to expire in 2020 if not previously utilized. This carryforward is subject to an annual limitation of approximately $376,000.

Liability for Losses and Loss E

Liability for Losses and Loss Expenses	3 Months Ended
	Mar. 31, 2019
Text Block [Abstract]
Liability for Losses and Loss Expenses	11 - Liability for Losses and Loss Expenses The establishment of an appropriate liability for losses and loss expenses is an inherently uncertain process, and we can provide no assurance that our insurance subsidiaries’ ultimate liability for losses and loss expenses will not exceed their loss and loss expense reserves and have an adverse effect on our results of operations and financial condition. Furthermore, we cannot predict the timing, frequency and extent of adjustments to our insurance subsidiaries’ estimated future liabilities, because the historical conditions and events that serve as a basis for our insurance subsidiaries’ estimates of ultimate claim costs may change. As is the case for substantially all property and casualty insurance companies, our insurance subsidiaries have found it necessary in the past to increase their estimated future liabilities for losses and loss expenses in certain periods, and, in other periods, their estimated future liabilities for losses and loss expenses have exceeded their actual liabilities for losses and loss expenses. Changes in our insurance subsidiaries’ estimate of their liability for losses and loss expenses generally reflect actual payments and their evaluation of information received subsequent to the prior reporting period. We summarize activity in our insurance subsidiaries’ liability for losses and loss expenses as follows: Three Months Ended March 31, 2019 2018 (in thousands) Balance at January 1 $ 814,665 $ 676,672 Less reinsurance recoverable (339,267 ) (293,271 ) Net balance at January 1 475,398 383,401 Incurred related to: Current year 127,117 129,842 Prior years (4,006 ) 26,741 Total incurred 123,111 156,583 Paid related to: Current year 43,232 54,583 Prior years 66,305 67,117 Total paid 109,537 121,700 Net balance at end of period 488,972 418,284 Plus reinsurance recoverable 347,548 309,279 Balance at end of period $ 836,520 $ 727,563 Our insurance subsidiaries recognized a (decrease) increase in their liability for losses and loss expenses of prior years of ($4.0 million) and $26.7 million for the three months ended March 31, 2019 and 2018, respectively. Our insurance subsidiaries made no significant changes in their reserving philosophy or claims management personnel, and they have made no significant offsetting changes in estimates that increased or decreased their loss and loss expense reserves in those years. The 2019 development represented 0.8% of the December 31, 2018 net carried reserves. The majority of the 2019 development related to decreases in the liability for losses and loss expenses of prior years for Michigan. During the first quarter of 2018, our insurance subsidiaries received new information on previously-reported commercial automobile and personal automobile claims that led our insurance subsidiaries to conclude that their prior actuarial assumptions did not fully anticipate recent changes in severity and reporting trends. Our insurance subsidiaries have encountered increasing difficulties in projecting the ultimate severity of automobile losses over recent accident years, which our insurance subsidiaries attribute to worsening litigation trends and an increased delay in the reporting to our insurance subsidiaries of information with respect to the severity of claims. As a result, our insurance subsidiaries’ actuaries increased their projections of the ultimate cost of our insurance subsidiaries’ prior-year personal automobile and commercial automobile losses, and our insurance subsidiaries added $7.4 million to their reserves for personal automobile and $18.8 million to their reserves for commercial automobile for accident years prior to 2018. The 2018 development represented 7.0% of the December 31, 2017 net carried reserves and resulted primarily from higher-than-expected severity in the personal automobile and commercial automobile lines of business, offset by lower-than-expected severity in the workers’ compensation line of business, in accident years prior to 2018. The majority of the 2018 development related to increases in the liability for losses and loss expenses of prior years for Atlantic States, Southern and Peninsula. Short-duration contracts are contracts for which our insurance subsidiaries receive premiums that they recognize as revenue over the period of the contract in proportion to the amount of insurance protection our insurance subsidiaries provide. Our insurance subsidiaries consider the policies they issue to be short-duration contracts. We consider the material lines of business of our insurance subsidiaries to be personal automobile, homeowners, commercial automobile, commercial multi-peril and workers’ compensation. Our insurance subsidiaries determine incurred but not reported (“IBNR”) reserves by subtracting the cumulative loss and loss expense amounts our insurance subsidiaries have paid and the case reserves our insurance subsidiaries have established at the balance sheet date from their actuaries’ estimate of the ultimate cost of losses and loss expenses. Accordingly, the IBNR reserves of our insurance subsidiaries include their actuaries’ projections of the cost of unreported claims as well as their actuaries’ projected development of case reserves on known claims and reopened claims. Our insurance subsidiaries’ methodology for estimating IBNR reserves has been in place for many years, and their actuaries made no significant changes to that methodology during the three months ended March 31, 2019. The actuaries for our insurance subsidiaries generally prepare an initial estimate for ultimate losses and loss expenses for the current accident year by multiplying earned premium by an expected loss ratio for each line of business our insurance subsidiaries write. Expected loss ratios represent the actuaries’ expectation of losses at the time our insurance subsidiaries price and write their policies and before the emergence of any actual claims experience. The actuaries determine an expected loss ratio by analyzing historical experience and adjusting for loss cost trends, loss frequency and severity trends, premium rate level changes, reported and paid loss emergence patterns and other known or observed factors. The actuaries use a variety of actuarial methods to estimate the ultimate cost of losses and loss expenses. These methods include paid loss development, incurred loss development and the Bornhuetter-Ferguson method. The actuaries base their selection of a point estimate on a judgmental weighting of the estimates each of these methods produce. The actuaries consider loss frequency and severity trends when they develop expected loss ratios and point estimates. Loss frequency is a measure of the number of claims per unit of insured exposure, and loss severity is a measure of the average size of claims. Factors that affect loss frequency include changes in weather patterns and economic activity. Factors that affect loss severity include changes in policy limits, reinsurance retentions, inflation rates and judicial interpretations. Our insurance subsidiaries create a claim file when they receive notice of an actual demand for payment, an event that may lead to a demand for payment or when they otherwise determine that a demand for payment could potentially lead to a future demand for payment on another coverage under the same policy or another policy they have issued. In recent years, our insurance subsidiaries have noted an increase in the period of time between the occurrence of a casualty loss event and the date at which they receive notice of a liability claim. Changes in the length of time between the loss occurrence date and the claim reporting date affect the actuaries’ ability to predict loss frequency accurately and the amount of IBNR reserves our insurance subsidiaries require. Our insurance subsidiaries generally create a claim file for a policy at the claimant level by type of coverage and generally recognize one count for each claim event. In certain lines of business where it is common for multiple parties to claim damages arising from a single claim event, our insurance subsidiaries recognize one count for each claimant involved in the event. Atlantic States recognizes one count for each claim event, or claimant involved in a multiple-party claim event, related to losses Atlantic States assumes through its participation in its pooling agreement with Donegal Mutual. Our insurance subsidiaries accumulate the claim counts and report them by line of business.

Impact of New Accounting Standa

Impact of New Accounting Standards	3 Months Ended
	Mar. 31, 2019
Accounting Changes and Error Corrections [Abstract]
Impact of New Accounting Standards	12 - Impact of New Accounting Standards In February 2016, the FASB issued guidance that requires lessees to recognize leases, including operating leases, on the lessee’s balance sheet, unless a lease is considered a short-term lease. This guidance also requires entities to make new judgments to identify leases. The guidance is effective for annual and interim reporting periods beginning after December 15, 2018 and permits early adoption. Our adoption of this guidance on January 1, 2019 did not have a significant impact on our financial position, results of operations or cash flows. In June 2016, the FASB issued guidance that amends previous guidance on the impairment of financial instruments by adding an impairment model that requires an entity to recognize expected credit losses as an allowance rather than impairments as credit losses are incurred. The intent of this guidance is to reduce complexity and result in a more timely recognition of expected credit losses. The guidance is effective for annual and interim reporting periods beginning after December 15, 2019. We are in the process of evaluating the impact of the adoption of this guidance on our financial position, results of operations and cash flows. In January 2017, the FASB issued guidance that simplifies the measurement of goodwill by modifying the goodwill impairment test previous guidance required. The guidance requires an entity to perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and recognize impairment for the amount by which the reporting unit’s carrying amount exceeds its fair value. The guidance is effective for annual and interim reporting periods beginning after December 15, 2019 and permits early adoption. We do not expect the adoption of this guidance to have a significant impact on our financial position, results of operations or cash flows. In August 2018, the FASB issued guidance that modifies disclosure requirements related to fair value measurements. The guidance removes the requirements to disclose the amounts of, and reasons for, transfers between Level 1 and Level 2 of the fair value hierarchy. The guidance is effective for annual and interim reporting periods beginning after December 15, 2019 and permits early adoption. The adoption of this guidance on January 1, 2019 did not have a significant impact on our financial position, results of operations or cash flows.

Impact of New Accounting Stan_2

Impact of New Accounting Standards (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Changes and Error Corrections [Abstract]
Impact of New Accounting Standards	In February 2016, the FASB issued guidance that requires lessees to recognize leases, including operating leases, on the lessee’s balance sheet, unless a lease is considered a short-term lease. This guidance also requires entities to make new judgments to identify leases. The guidance is effective for annual and interim reporting periods beginning after December 15, 2018 and permits early adoption. Our adoption of this guidance on January 1, 2019 did not have a significant impact on our financial position, results of operations or cash flows. In June 2016, the FASB issued guidance that amends previous guidance on the impairment of financial instruments by adding an impairment model that requires an entity to recognize expected credit losses as an allowance rather than impairments as credit losses are incurred. The intent of this guidance is to reduce complexity and result in a more timely recognition of expected credit losses. The guidance is effective for annual and interim reporting periods beginning after December 15, 2019. We are in the process of evaluating the impact of the adoption of this guidance on our financial position, results of operations and cash flows. In January 2017, the FASB issued guidance that simplifies the measurement of goodwill by modifying the goodwill impairment test previous guidance required. The guidance requires an entity to perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and recognize impairment for the amount by which the reporting unit’s carrying amount exceeds its fair value. The guidance is effective for annual and interim reporting periods beginning after December 15, 2019 and permits early adoption. We do not expect the adoption of this guidance to have a significant impact on our financial position, results of operations or cash flows. In August 2018, the FASB issued guidance that modifies disclosure requirements related to fair value measurements. The guidance removes the requirements to disclose the amounts of, and reasons for, transfers between Level 1 and Level 2 of the fair value hierarchy. The guidance is effective for annual and interim reporting periods beginning after December 15, 2019 and permits early adoption. The adoption of this guidance on January 1, 2019 did not have a significant impact on our financial position, results of operations or cash flows.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Summary of Reconciliation of Numerators and Denominators Used in Basic and Diluted Per Share Computations	The table below presents for the periods indicated a reconciliation of the numerators and denominators we used to compute basic and diluted net income per share for our Class A common stock and our Class B common stock: Three Months Ended March 31, 2019 2018 Class A Class B Class A Class B (in thousands, except per share data) Basic earnings (loss) per share: Numerator: Allocation of net income (loss) $ 18,843 $ 4,180 $ (14,848 ) $ (3,330 ) Denominator: Weighted-average shares outstanding 22,850 5,577 22,615 5,577 Basic earnings (loss) per share $ 0.82 $ 0.75 $ (0.66 ) $ (0.60 ) Diluted earnings (loss) per share: Numerator: Allocation of net income (loss) $ 18,843 $ 4,180 $ (14,848 ) $ (3,330 ) Denominator: Number of shares used in basic computation 22,850 5,577 22,615 5,577 Weighted-average shares effect of dilutive securities: Director and employee stock options 71 — — — Number of shares used in diluted computation 22,921 5,577 22,615 5,577 Diluted earnings (loss) per share $ 0.82 $ 0.75 $ (0.66 ) $ (0.60 )

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Summary of Amortized Cost and Estimated Fair Values of Fixed Maturities	The amortized cost and estimated fair values of our fixed maturities at March 31, 2019 were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (in thousands) Held to Maturity U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 79,159 $ 543 $ 477 $ 79,225 Obligations of states and political subdivisions 160,241 10,792 51 170,982 Corporate securities 129,526 1,951 1,438 130,039 Mortgage-backed securities 38,507 244 150 38,601 Totals $ 407,433 $ 13,530 $ 2,116 $ 418,847 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (in thousands) Available for Sale U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 30,323 $ 36 $ 322 $ 30,037 Obligations of states and political subdivisions 68,077 1,610 116 69,571 Corporate securities 143,563 1,202 1,215 143,550 Mortgage-backed securities 309,502 772 3,410 306,864 Totals $ 551,465 $ 3,620 $ 5,063 $ 550,022 The amortized cost and estimated fair values of our fixed maturities at December 31, 2018 were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (in thousands) Held to Maturity U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 76,222 $ 175 $ 1,087 $ 75,310 Obligations of states and political subdivisions 159,292 8,237 704 166,825 Corporate securities 127,010 396 4,391 123,015 Mortgage-backed securities 40,274 64 450 39,888 Totals $ 402,798 $ 8,872 $ 6,632 $ 405,038 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (in thousands) Available for Sale U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 45,188 $ 25 $ 1,003 $ 44,210 Obligations of states and political subdivisions 73,761 1,762 307 75,216 Corporate securities 140,689 203 3,059 137,833 Mortgage-backed securities 275,475 149 6,325 269,299 Totals $ 535,113 $ 2,139 $ 10,694 $ 526,558
Summary of Amortized Cost and Estimated Fair Value of Fixed Maturities by Contractual Maturity	Expected maturities may differ from contractual maturities because issuers of the securities may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Cost Estimated Fair (in thousands) Held to maturity Due in one year or less $ 22,709 $ 22,708 Due after one year through five years 73,546 75,198 Due after five years through ten years 149,120 153,022 Due after ten years 123,551 129,318 Mortgage-backed securities 38,507 38,601 Total held to maturity $ 407,433 $ 418,847 Available for sale Due in one year or less $ 40,681 $ 40,926 Due after one year through five years 87,436 87,974 Due after five years through ten years 100,042 100,172 Due after ten years 13,804 14,086 Mortgage-backed securities 309,502 306,864 Total available for sale $ 551,465 $ 550,022
Summary of Cost and Estimated Fair Values of Equity Securities	The cost and estimated fair values of our equity securities at March 31, 2019 were as follows: Cost Gross Gains Gross Losses Estimated Fair (in thousands) Equity securities $ 42,412 $ 7,653 $ 643 $ 49,422 The cost and estimated fair values of our equity securities at December 31, 2018 were as follows: Cost Gross Gains Gross Losses Estimated Fair (in thousands) Equity securities $ 40,943 $ 4,818 $ 2,094 $ 43,667
Summary of Gross Investment Gains and Losses before Applicable Income Taxes	Gross investment gains and losses before applicable income taxes for the three months ended March 31, 2019 and 2018 were as follows: Three Months Ended March 31, 2019 2018 (in thousands) Gross investment gains: Fixed maturities $ 358 $ — Equity securities 5,986 1,145 Investment in affiliate 12,662 — 19,006 1,145 Gross investment losses: Fixed maturities 318 44 Equity securities 591 2,019 909 2,063 Net investment gains (losses) $ 18,097 $ (918 )
Summary of Fixed Maturities with Unrealized Losses	We held fixed maturities with unrealized losses representing declines that we considered temporary at March 31, 2019 as follows: Less Than 12 Months More Than 12 Months Fair Value Unrealized Losses Fair Value Unrealized Losses (in thousands) U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 1,475 $ 1 $ 54,656 $ 798 Obligations of states and political subdivisions 1,260 14 15,040 153 Corporate securities 23,335 273 98,653 2,380 Mortgage-backed securities 19,724 28 210,423 3,532 Totals $ 45,794 $ 316 $ 378,772 $ 6,863 We held fixed maturities with unrealized losses representing declines that we considered temporary at December 31, 2018 as follows: Less Than 12 Months More Than 12 Months Fair Value Unrealized Losses Fair Value Unrealized Losses (in thousands) U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 26,342 $ 166 $ 54,900 $ 1,924 Obligations of states and political subdivisions 28,322 477 21,560 534 Corporate securities 149,270 4,483 59,397 2,968 Mortgage-backed securities 82,594 913 181,379 5,862 Totals $ 286,528 $ 6,039 $ 317,236 $ 11,288

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Summary of Financial Data by Segment	Financial data by segment for the three months ended March 31, 2019 and 2018 is as follows: Three Months Ended March 31, 2019 2018 (in thousands) Revenues: Premiums earned: Commercial lines $ 91,481 $ 82,226 Personal lines 96,592 99,539 Premiums earned 188,073 181,765 Net investment income 7,049 6,378 Investment gains (losses) 18,097 (918 ) Equity in earnings of DFSC 295 632 Other 1,200 1,471 Total revenues $ 214,714 $ 189,328 Income (loss) before income tax expense (benefit): Underwriting income (loss): Commercial lines $ (1,688 ) $ (20,210 ) Personal lines 2,473 (17,267 ) SAP underwriting income (loss) 785 (37,477 ) GAAP adjustments 551 2,368 GAAP underwriting income (loss) 1,336 (35,109 ) Net investment income 7,049 6,378 Investment gains (losses) 18,097 (918 ) Equity in earnings of DFSC 295 632 Other 68 482 Income (loss) before income tax expense (benefit) $ 26,845 $ (28,535 )

Borrowings (Tables)

Borrowings (Tables)	3 Months Ended
	Mar. 31, 2019
FHLB of Pittsburgh [Member]
Amount of FHLB of Indianapolis/Pittsburgh Stock Purchased, Collateral Pledged and Assets Related to MICO's/Atlantic States Agreement	The table below presents the amount of FHLB of Pittsburgh stock Atlantic States purchased, collateral pledged and assets related to Atlantic States’ membership in the FHLB of Pittsburgh at March 31, 2019. FHLB of Pittsburgh stock purchased and owned $ 1,631,800 Collateral pledged, at par (carrying value $39,609,997) 39,987,256 Borrowing capacity currently available 3,101,972

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements for Investments in Available-for-Sale Fixed Maturity and Equity Securities	The following table presents our fair value measurements for our investments in available-for-sale Fair Value Measurements Using Fair Value Quoted Prices in Significant Significant (in thousands) U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 30,037 $ — $ 30,037 $ — Obligations of states and political subdivisions 69,571 — 69,571 — Corporate securities 143,550 — 143,550 — Mortgage-backed securities 306,864 — 306,864 — Equity securities 34,711 32,365 2,346 — Total investments in the fair value hierarchy 584,733 32,365 552,368 — Investment measured at net asset value 14,711 — — — Totals $ 599,444 $ 32,365 $ 552,368 $ — The following table presents our fair value measurements for our investments in available-for-sale Fair Value Measurements Using Fair Value Quoted Prices in Significant Significant (in thousands) U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 44,210 $ — $ 44,210 $ — Obligations of states and political subdivisions 75,216 — 75,216 — Corporate securities 137,833 — 137,833 — Mortgage-backed securities 269,299 — 269,299 — Equity securities 30,675 28,351 2,324 — Total investments in the fair value hierarchy 557,233 28,351 528,882 — Investment measured at net asset value 12,992 — — — Totals $ 570,225 $ 28,351 $ 528,882 $ —

Liability for Losses and Loss_2

Liability for Losses and Loss Expenses (Tables)	3 Months Ended
	Mar. 31, 2019
Text Block [Abstract]
Summary of Insurance Subsidiaries' Liability for Losses and Loss Expenses	We summarize activity in our insurance subsidiaries’ liability for losses and loss expenses as follows: Three Months Ended March 31, 2019 2018 (in thousands) Balance at January 1 $ 814,665 $ 676,672 Less reinsurance recoverable (339,267 ) (293,271 ) Net balance at January 1 475,398 383,401 Incurred related to: Current year 127,117 129,842 Prior years (4,006 ) 26,741 Total incurred 123,111 156,583 Paid related to: Current year 43,232 54,583 Prior years 66,305 67,117 Total paid 109,537 121,700 Net balance at end of period 488,972 418,284 Plus reinsurance recoverable 347,548 309,279 Balance at end of period $ 836,520 $ 727,563

Organization - Additional Infor

Organization - Additional Information (Detail)	Mar. 31, 2019Segment	Mar. 08, 2019USD ($)	Jan. 31, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Mar. 31, 2019shares	Jul. 18, 2013shares
Business Acquisition [Line Items]
Operations commenced date				Aug. 26, 1986
Stock ownership percentage owned by third party				51.80%
Number of operating segments | Segment	3
Voting power percentage of outstanding common stock				72.00%
Restructuring charge for employee termination costs				$ 1,900,000
Restructuring charges paid for employee termination costs				65,000	$ 1,500,000
Accrual of restructuring charge				$ 325,000
Atlantic States [Member]
Business Acquisition [Line Items]
Percentage of share in results of pooled business subsidiary				80.00%
Donegal Mutual [Member]
Business Acquisition [Line Items]
Percentage of share in results of pooled business owned by third party				20.00%
DFSC and North West [Member]
Business Acquisition [Line Items]
Cash consideration from sale of business		$ 20,500,000
Consideration from sale of business fair value at closing date		20,900,000
DFSC and North West [Member] | Donegal Mutual Insurance Company [Member]
Business Acquisition [Line Items]
Consideration from sale of business		85,800,000
Proceeds from dividend		$ 29,200,000
Peninsula [Member]
Business Acquisition [Line Items]
Expected proceeds from sale of real estate			$ 1,200,000
Impairment charge related to real estate transaction					1,100,000
Fair value of real asset held for sale					$ 1,200,000
Donegal Financial Services Corporation [Member]
Business Acquisition [Line Items]
Outstanding stock ownership percentage	48.20%			48.20%		48.20%
Gain (Loss) on Sale of Equity Investments				$ 12,700,000
Donegal Financial Services Corporation [Member] | DFSC and North West [Member]
Business Acquisition [Line Items]
Outstanding stock ownership percentage		48.20%
Dividend payment to be received		$ 14,100,000
Consideration from sale of business and dividend		$ 41,400,000
Class A Common Stock [Member]
Business Acquisition [Line Items]
Stock ownership percentage held by major shareholder				43.00%
Class A Common Stock [Member] | Stock Repurchase Program Two [Member]
Business Acquisition [Line Items]
Authority to purchase shares | shares							500,000
Common stock shares purchased | shares						57,658
Class B Common Stock [Member]
Business Acquisition [Line Items]
Stock ownership percentage held by major shareholder				84.00%

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2019shares
Earnings Per Share [Abstract]
Minimum percentage of class A common stock declared dividend excess over class B dividend	10.00%
Options excluded from diluted earnings per share	8,967,857

Earnings Per Share - Summary of

Earnings Per Share - Summary of Reconciliation of Numerators and Denominators Used in Basic and Diluted Per Share Computations (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Class A Common Stock [Member]
Numerator:
Allocation of net income (loss)	$ 18,843	$ (14,848)
Denominator:
Weighted-average shares outstanding	22,850	22,615
Basic earnings (loss) per share	$ 0.82	$ (0.66)
Numerator:
Allocation of net income (loss)	$ 18,843	$ (14,848)
Denominator:
Number of shares used in basic computation	22,850	22,615
Weighted-average shares effect of dilutive securities:
Director and employee stock options	71
Number of shares used in diluted computation	22,921	22,615
Diluted earnings (loss) per share	$ 0.82	$ (0.66)
Class B Common Stock [Member]
Numerator:
Allocation of net income (loss)	$ 4,180	$ (3,330)
Denominator:
Weighted-average shares outstanding	5,577	5,577
Basic earnings (loss) per share	$ 0.75	$ (0.60)
Numerator:
Allocation of net income (loss)	$ 4,180	$ (3,330)
Denominator:
Number of shares used in basic computation	5,577	5,577
Weighted-average shares effect of dilutive securities:
Number of shares used in diluted computation	5,577	5,577
Diluted earnings (loss) per share	$ 0.75	$ (0.60)

Reinsurance - Additional Inform

Reinsurance - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2019USD ($)
Ceded Credit Risk [Line Items]
Loss reinsurance, set retention amount for property losses	$ 1,000,000
Loss reinsurance, set retention amount for casualty losses	$ 2,000,000
Third Party Reinsurance [Member]
Ceded Credit Risk [Line Items]
Percentage of accumulation of losses	100.00%
Catastrophe reinsurance, set retention amount	$ 10,000,000
Catastrophe reinsurance, deductible amount	1,200,000
Maximum amount of loss coverage under reinsurance agreement of property catastrophe	$ 190,000,000
Atlantic States [Member]
Ceded Credit Risk [Line Items]
Percentage of share in results of pooled business subsidiary	80.00%
Donegal Mutual [Member]
Ceded Credit Risk [Line Items]
Percentage of share in results of pooled business owned by third party	20.00%
Percentage of accumulation of losses	100.00%
Catastrophe reinsurance, set retention amount	$ 2,000,000
Maximum amount of loss coverage under reinsurance agreement of property catastrophe	8,000,000
Additional coverage amount	$ 5,000,000

Investments - Summary of Amorti

Investments - Summary of Amortized Cost and Estimated Fair Values of Fixed Maturities (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Total held to maturity, Amortized Cost	$ 407,432,729	$ 402,798,518
Held to Maturity, Gross Unrealized Gains	13,530,000	8,872,000
Held to Maturity, Gross Unrealized Losses	2,116,000	6,632,000
Total held to maturity, Estimated Fair Value	418,847,000	405,038,000
Available for Sale, Amortized Cost	551,465,000	535,113,000
Available for Sale, Gross Unrealized Gains	3,620,000	2,139,000
Available for Sale, Gross Unrealized Losses	5,063,000	10,694,000
Available for Sale, Estimated Fair Value	550,022,000	526,558,000
U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies [Member]
Schedule of Equity Method Investments [Line Items]
Total held to maturity, Amortized Cost	79,159,000	76,222,000
Held to Maturity, Gross Unrealized Gains	543,000	175,000
Held to Maturity, Gross Unrealized Losses	477,000	1,087,000
Total held to maturity, Estimated Fair Value	79,225,000	75,310,000
Available for Sale, Amortized Cost	30,323,000	45,188,000
Available for Sale, Gross Unrealized Gains	36,000	25,000
Available for Sale, Gross Unrealized Losses	322,000	1,003,000
Available for Sale, Estimated Fair Value	30,037,000	44,210,000
Obligations of States and Political Subdivisions [Member]
Schedule of Equity Method Investments [Line Items]
Total held to maturity, Amortized Cost	160,241,000	159,292,000
Held to Maturity, Gross Unrealized Gains	10,792,000	8,237,000
Held to Maturity, Gross Unrealized Losses	51,000	704,000
Total held to maturity, Estimated Fair Value	170,982,000	166,825,000
Available for Sale, Amortized Cost	68,077,000	73,761,000
Available for Sale, Gross Unrealized Gains	1,610,000	1,762,000
Available for Sale, Gross Unrealized Losses	116,000	307,000
Available for Sale, Estimated Fair Value	69,571,000	75,216,000
Corporate Securities [Member]
Schedule of Equity Method Investments [Line Items]
Total held to maturity, Amortized Cost	129,526,000	127,010,000
Held to Maturity, Gross Unrealized Gains	1,951,000	396,000
Held to Maturity, Gross Unrealized Losses	1,438,000	4,391,000
Total held to maturity, Estimated Fair Value	130,039,000	123,015,000
Available for Sale, Amortized Cost	143,563,000	140,689,000
Available for Sale, Gross Unrealized Gains	1,202,000	203,000
Available for Sale, Gross Unrealized Losses	1,215,000	3,059,000
Available for Sale, Estimated Fair Value	143,550,000	137,833,000
Mortgage-Backed Securities [Member]
Schedule of Equity Method Investments [Line Items]
Total held to maturity, Amortized Cost	38,507,000	40,274,000
Held to Maturity, Gross Unrealized Gains	244,000	64,000
Held to Maturity, Gross Unrealized Losses	150,000	450,000
Total held to maturity, Estimated Fair Value	38,601,000	39,888,000
Available for Sale, Amortized Cost	309,502,000	275,475,000
Available for Sale, Gross Unrealized Gains	772,000	149,000
Available for Sale, Gross Unrealized Losses	3,410,000	6,325,000
Available for Sale, Estimated Fair Value	$ 306,864,000	$ 269,299,000

Investments - Additional Inform

Investments - Additional Information (Detail)	Nov. 30, 2013USD ($)	Mar. 31, 2019USD ($)Securities	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)
Schedule of Investments [Line Items]
Net unrealized losses arising prior to reclassification date	$ 15,100,000
Amortization of unrealized losses recorded in accumulated other comprehensive income (loss)		$ 270,543	$ 294,196
Accumulated other comprehensive loss		(7,759,586)		$ (14,228,059)
Gain on equity securities		6,000,000	1,000,000
Loss on equity securities		7,040	$ 2,000,000
Obligations of States and Political Subdivisions [Member]
Schedule of Investments [Line Items]
Aggregate fair value of bond held		155,800,000		157,700,000
Amortized cost of bond held		148,200,000		152,200,000
Special Revenue Bonds [Member]
Schedule of Investments [Line Items]
Aggregate fair value of bond held		84,800,000		84,300,000
Amortized cost of bond held		$ 80,100,000		$ 80,900,000
Education Bonds [Member]
Schedule of Investments [Line Items]
Percentage of investments in special revenue bonds		49.00%		49.00%
Water and Sewer Utility Bonds [Member]
Schedule of Investments [Line Items]
Percentage of investments in special revenue bonds		30.00%		29.00%
Fixed Maturities [Member]
Schedule of Investments [Line Items]
Number of fixed maturity securities classified as available for sale | Securities		336
Accumulated Net Unrealized Investment Losses [Member]
Schedule of Investments [Line Items]
Accumulated other comprehensive loss		$ (8,400,000)		$ (8,600,000)
Minimum [Member]
Schedule of Investments [Line Items]
Percentage of which the company held security of any issuer		10.00%		10.00%

Investments - Summary of Amor_2

Investments - Summary of Amortized Cost and Estimated Fair Value of Fixed Maturities by Contractual Maturity (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Held to maturity
Due in one year or less, Amortized Cost	$ 22,709,000
Due after one year through five years, Amortized Cost	73,546,000
Due after five years through ten years, Amortized Cost	149,120,000
Due after ten years, Amortized Cost	123,551,000
Mortgage-backed securities, Amortized Cost	38,507,000
Total held to maturity, Amortized Cost	407,432,729	$ 402,798,518
Available for sale
Due in one year or less, Amortized Cost	40,681,000
Due after one year through five years, Amortized Cost	87,436,000
Due after five years through ten years, Amortized Cost	100,042,000
Due after ten years, Amortized Cost	13,804,000
Mortgage-backed securities, Amortized Cost	309,502,000
Total available for sale, Amortized Cost	551,465,000
Held to maturity
Due in one year or less, Estimated Fair Value	22,708,000
Due after one year through five years, Estimated Fair Value	75,198,000
Due after five years through ten years, Estimated Fair Value	153,022,000
Due after ten years, Estimated Fair Value	129,318,000
Mortgage-backed securities, Estimated Fair Value	38,601,000
Total held to maturity, Estimated Fair Value	418,847,000	405,038,000
Available for sale
Due in one year or less, Estimated Fair Value	40,926,000
Due after one year through five years, Estimated Fair Value	87,974,000
Due after five years through ten years, Estimated Fair Value	100,172,000
Due after ten years, Estimated Fair Value	14,086,000
Mortgage-backed securities, Estimated Fair Value	306,864,000
Total available for sale, Estimated Fair Value	$ 550,021,624	$ 526,558,304

Investment - Summary of Cost an

Investment - Summary of Cost and Estimated Fair Value of Equity Securities (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Cost	$ 42,412,000	$ 40,943,000
Gross Gains	7,653,000	4,818,000
Gross Losses	643,000	2,094,000
Estimated Fair Value	$ 49,422,373	$ 43,667,009

Investments - Summary of Gross

Investments - Summary of Gross Investment Gains and Losses before Applicable Income Taxes (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Gain (Loss) on Securities [Line Items]
Gross investment gains	$ 19,006,000	$ 1,145,000
Gross investment losses	909,000	2,063,000
Net investment gains (losses)	18,097,113	(918,339)
Fixed Maturities [Member]
Gain (Loss) on Securities [Line Items]
Gross investment gains	358,000
Gross investment losses	318,000	44,000
Investments In Affiliates [Member]
Gain (Loss) on Securities [Line Items]
Gross investment gains	12,662,000
Equity Securities [Member]
Gain (Loss) on Securities [Line Items]
Gross investment gains	5,986,000	1,145,000
Gross investment losses	$ 591,000	$ 2,019,000

Investments - Summary of Fixed

Investments - Summary of Fixed Maturities with Unrealized Losses (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months, Fair Value	$ 45,794	$ 286,528
Less Than 12 Months, Unrealized Losses	316	6,039
More Than 12 Months, Fair Value	378,772	317,236
More Than 12 Months, Unrealized Losses	6,863	11,288
U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies [Member]
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months, Fair Value	1,475	26,342
Less Than 12 Months, Unrealized Losses	1	166
More Than 12 Months, Fair Value	54,656	54,900
More Than 12 Months, Unrealized Losses	798	1,924
Obligations of States and Political Subdivisions [Member]
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months, Fair Value	1,260	28,322
Less Than 12 Months, Unrealized Losses	14	477
More Than 12 Months, Fair Value	15,040	21,560
More Than 12 Months, Unrealized Losses	153	534
Corporate Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months, Fair Value	23,335	149,270
Less Than 12 Months, Unrealized Losses	273	4,483
More Than 12 Months, Fair Value	98,653	59,397
More Than 12 Months, Unrealized Losses	2,380	2,968
Mortgage-Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months, Fair Value	19,724	82,594
Less Than 12 Months, Unrealized Losses	28	913
More Than 12 Months, Fair Value	210,423	181,379
More Than 12 Months, Unrealized Losses	$ 3,532	$ 5,862

Segment Information - Summary o

Segment Information - Summary of Financial Data by Segment (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Premiums earned:
Premiums earned	$ 188,073,242	$ 181,764,580
Net investment income	7,048,503	6,378,369
Investment gains (losses)	18,097,113	(918,339)
Equity in earnings of DFSC	295,000	632,114
Other	1,200,000	1,471,000
Total revenues	214,713,874	189,328,278
Underwriting income (loss):
SAP underwriting income (loss)	785,000	(37,477,000)
GAAP adjustments	551,000	2,368,000
GAAP underwriting income (loss)	1,336,000	(35,109,000)
Net investment income	7,048,503	6,378,369
Investment gains (losses)	18,097,113	(918,339)
Equity in earnings of DFSC	295,000	632,114
Other	68,000	482,000
Income (loss) before income tax expense (benefit)	26,845,024	(28,535,171)
Commercial Lines [Member]
Premiums earned:
Premiums earned	91,481,000	82,226,000
Underwriting income (loss):
SAP underwriting income (loss)	(1,688,000)	(20,210,000)
Personal Lines [Member]
Premiums earned:
Premiums earned	96,592,000	99,539,000
Underwriting income (loss):
SAP underwriting income (loss)	$ 2,473,000	$ (17,267,000)

Borrowings - Additional Informa

Borrowings - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2019USD ($)
Line of Credit Facility [Line Items]
Line of credit expiration month and year	2020-07
Line of credit, interest rate description	Interest rates equal to M&T's current prime rate or the then-current LIBOR rate plus 2.25%
Percentage commitment fee	0.15%
Manufacturers and Traders Trust Company [Member]
Line of Credit Facility [Line Items]
Line of credit facility remaining borrowing capacity	$ 30,000,000
Line of credit covenant description	The credit agreement requires our compliance with certain covenants. These covenants include minimum levels of our net worth, leverage ratio, statutory surplus and the A.M. Best ratings of our insurance subsidiaries. In addition, Atlantic States has guaranteed our payment obligations under the new credit agreement. We complied with all requirements of the credit agreement during the three months ended March 31, 2019.
FHLB of Pittsburgh [Member] | Atlantic States [Member]
Line of Credit Facility [Line Items]
Right to request for extension of credit agreement with Manufacturers and Traders Trust Company	$ 3,101,972
Outstanding advances	35,000,000
Revolving Credit Facility [Member] | Manufacturers and Traders Trust Company [Member]
Line of Credit Facility [Line Items]
Right to request for extension of credit agreement with Manufacturers and Traders Trust Company	$ 30,000,000
Lines of Credit [Member] | FHLB of Pittsburgh [Member] | Atlantic States [Member]
Line of Credit Facility [Line Items]
Interest rate on advances	2.76%
Subordinated Debentures [Member]
Line of Credit Facility [Line Items]
Debt instrument stated interest rate	5.00%
Subordinated Debentures [Member] | West Bend Mutual Insurance Company [Member]
Line of Credit Facility [Line Items]
Surplus note	$ 5,000,000

Borrowings - Amount of FHLB of

Borrowings - Amount of FHLB of Indianapolis/Pittsburgh Stock Purchased, Collateral Pledged and Assets Related to MICO's/Atlantic States Agreement (Detail) - Atlantic States [Member] - FHLB of Pittsburgh [Member]	Mar. 31, 2019USD ($)
Amount of FHLB of Indianapolis/Pittsburgh stock purchased, collateral pledged and assets related to MICO's/Atlantic States Agreement
FHLB stock purchased and owned	$ 1,631,800
Collateral pledged, at par	39,987,256
Borrowing capacity currently available	$ 3,101,972

Borrowings - Amount of FHLB o_2

Borrowings - Amount of FHLB of Indianapolis/Pittsburgh Stock Purchased, Collateral Pledged and Assets Related to MICO's/Atlantic States Agreement (Parenthetical) (Detail)	Mar. 31, 2019USD ($)
FHLB of Pittsburgh [Member] | Atlantic States [Member]
Line of Credit Facility [Line Items]
Collateral Pledged at carrying value	$ 39,609,997

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Compensation expense in stock compensation plans	$ 442,653	$ 520,679
Income tax benefit of stock compensation plans	92,957	109,343
Unrecognized compensation expense related to nonvested share-based compensation granted under the plan	$ 2,000,000
Weighted average period of unrecognized compensation expense	1 year 9 months 18 days
Cash from option exercises	$ 0	478,650
Tax benefit for tax deductions related to option exercises	$ 0	$ 18,803

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Measurements for Investments in Available-for-Sale Fixed Maturity and Equity Securities (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	$ 550,022	$ 526,558
U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	30,037	44,210
Obligations of States and Political Subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	69,571	75,216
Corporate Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	143,550	137,833
Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	306,864	269,299
Assets and Liabilities on Recurring Basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	599,444	570,225
Assets and Liabilities on Recurring Basis [Member] | Investments Measured at Net Asset Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	14,711	12,992
Assets and Liabilities on Recurring Basis [Member] | Total Investments in the Fair Value Hierarchy [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	584,733	557,233
Assets and Liabilities on Recurring Basis [Member] | Total Investments in the Fair Value Hierarchy [Member] | U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	30,037	44,210
Assets and Liabilities on Recurring Basis [Member] | Total Investments in the Fair Value Hierarchy [Member] | Obligations of States and Political Subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	69,571	75,216
Assets and Liabilities on Recurring Basis [Member] | Total Investments in the Fair Value Hierarchy [Member] | Corporate Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	143,550	137,833
Assets and Liabilities on Recurring Basis [Member] | Total Investments in the Fair Value Hierarchy [Member] | Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	306,864	269,299
Assets and Liabilities on Recurring Basis [Member] | Total Investments in the Fair Value Hierarchy [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	34,711	30,675
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Assets and Liabilities on Recurring Basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	32,365	28,351
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Assets and Liabilities on Recurring Basis [Member] | Total Investments in the Fair Value Hierarchy [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	32,365	28,351
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Assets and Liabilities on Recurring Basis [Member] | Total Investments in the Fair Value Hierarchy [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	32,365	28,351
Significant Other Observable Inputs (Level 2) [Member] | Assets and Liabilities on Recurring Basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	552,368	528,882
Significant Other Observable Inputs (Level 2) [Member] | Assets and Liabilities on Recurring Basis [Member] | Total Investments in the Fair Value Hierarchy [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	552,368	528,882
Significant Other Observable Inputs (Level 2) [Member] | Assets and Liabilities on Recurring Basis [Member] | Total Investments in the Fair Value Hierarchy [Member] | U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	30,037	44,210
Significant Other Observable Inputs (Level 2) [Member] | Assets and Liabilities on Recurring Basis [Member] | Total Investments in the Fair Value Hierarchy [Member] | Obligations of States and Political Subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	69,571	75,216
Significant Other Observable Inputs (Level 2) [Member] | Assets and Liabilities on Recurring Basis [Member] | Total Investments in the Fair Value Hierarchy [Member] | Corporate Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	143,550	137,833
Significant Other Observable Inputs (Level 2) [Member] | Assets and Liabilities on Recurring Basis [Member] | Total Investments in the Fair Value Hierarchy [Member] | Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	306,864	269,299
Significant Other Observable Inputs (Level 2) [Member] | Assets and Liabilities on Recurring Basis [Member] | Total Investments in the Fair Value Hierarchy [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	$ 2,346	$ 2,324

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Operating Loss Carryforwards [Line Items]
Other deferred tax assets, net	$ 26,500,000	$ 32,400,000
Parent Company [Member]
Operating Loss Carryforwards [Line Items]
Valuation allowance related to the portion of operating loss carryforwards	$ 8,100,000
Earliest Tax Year [Member]
Operating Loss Carryforwards [Line Items]
Tax years open for examination	2015
Latest Tax Year [Member]
Operating Loss Carryforwards [Line Items]
Tax years open for examination	2018
Le Mars [Member]
Operating Loss Carryforwards [Line Items]
Valuation allowance related to the portion of operating loss carryforwards	$ 264,467
Operating loss carryforwards	$ 1,200,000
Operating loss carryforwards expiration period	2020
Operating loss carryforwards annual limitations in amount on use	$ 376,000

Liability for Losses and Loss_3

Liability for Losses and Loss Expenses - Summary of Insurance Subsidiaries' Liability for Losses and Loss Expenses (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Liability for Claims and Claims Adjustment Expense [Abstract]
Balance at January 1	$ 814,665,224	$ 676,672,000
Less reinsurance recoverable	(339,267,000)	(293,271,000)
Net balance at January 1	475,398,000	383,401,000
Incurred related to:
Current year	127,117,000	129,842,000
Prior years	(4,006,000)	26,741,000
Total incurred	123,111,000	156,583,000
Paid related to:
Current year	43,232,000	54,583,000
Prior years	66,305,000	67,117,000
Total paid	109,537,000	121,700,000
Net balance at end of period	488,972,000	418,284,000
Plus reinsurance recoverable	347,548,000	309,279,000
Balance at end of period	$ 836,519,776	$ 727,563,000

Liability for Losses and Loss_4

Liability for Losses and Loss Expenses - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Increase (Decrease) in liability for losses and loss expenses of prior years	$ (4,006)	$ 26,741
Percentage of 2010 development	0.80%	7.00%
Personal Automobile [Member]
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Reserve created for commercial automobile	$ 7,400
Commercial Automobile [Member]
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Reserve created for commercial automobile	$ 18,800