Erie Indemnity (ERIE) 10-Q 27 Oct 22 2022 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2022	Oct. 21, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	0-24000
Entry Registrant Name	ERIE INDEMNITY COMPANY
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	25-0466020
Entity Address, Address Line One	100 Erie Insurance Place,
Entity Address, City or Town	Erie,
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	16530
City Area Code	814
Local Phone Number	870-2000
Title of 12(b) Security	Class A common stock,
Trading Symbol	ERIE
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000922621
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Class A common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		46,189,068
Class B common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		2,542

STATEMENTS OF OPERATIONS (UNAUD

STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Operating revenue
Total operating revenue	$ 741,236	$ 687,839	$ 2,139,489	$ 1,998,046
Operating expenses
Total operating expenses	634,764	592,736	1,844,705	1,741,783
Operating income	106,472	95,103	294,784	256,263
Investment income
Net investment income	5,834	18,858	24,606	49,605
Net realized and unrealized investment (losses) gains	(6,230)	1,610	(23,833)	5,183
Net impairment (losses) recoveries recognized in earnings	(175)	130	(429)	216
Total investment (loss) income	(571)	20,598	344	55,004
Interest expense	115	1,034	2,009	3,082
Other income (expense)	562	(541)	1,372	(1,608)
Income before income taxes	106,348	114,126	294,491	306,577
Income tax expense	22,035	23,903	61,412	63,759
Net income	$ 84,313	$ 90,223	$ 233,079	$ 242,818
Class A common stock
Earnings per share - Basic and diluted:
Common stock - basic (in dollars per share)	$ 1.81	$ 1.94	$ 5	$ 5.21
Common stock - diluted (in dollars per share)	$ 1.61	$ 1.72	$ 4.46	$ 4.64
Weighted average shares outstanding – Basic
Common stock - basic (in shares)	46,189,025	46,189,035	46,188,878	46,188,729
Weighted average shares outstanding – Diluted
Common stock - diluted (in shares)	52,296,411	52,305,245	52,297,685	52,307,859
Dividends declared per share
Dividends declared (in dollars per share)	$ 1.11	$ 1.035	$ 3.33	$ 3.105
Class B common stock
Earnings per share - Basic and diluted:
Common stock - basic (in dollars per share)	272	291	751	782
Common stock - diluted (in dollars per share)	$ 272	$ 291	$ 751	$ 782
Weighted average shares outstanding – Basic
Common stock - basic (in shares)	2,542	2,542	2,542	2,542
Weighted average shares outstanding – Diluted
Common stock - diluted (in shares)	2,542	2,542	2,542	2,542
Dividends declared per share
Dividends declared (in dollars per share)	$ 166.50	$ 155.25	$ 499.50	$ 465.75
Management fee revenue - policy issuance and renewal services
Operating revenue
Total operating revenue	$ 551,666	$ 504,891	$ 1,584,213	$ 1,462,880
Operating expenses
Total operating expenses	466,111	430,326	1,352,050	1,268,650
Management fee revenue - administrative services
Operating revenue
Total operating revenue	14,657	14,471	43,446	43,985
Administrative services reimbursement revenue
Operating revenue
Total operating revenue	168,653	162,410	492,655	473,133
Operating expenses
Total operating expenses	168,653	162,410	492,655	473,133
Service agreement revenue
Operating revenue
Total operating revenue	$ 6,260	$ 6,067	$ 19,175	$ 18,048

STATEMENTS OF COMPREHENSIVE INC

STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 84,313	$ 90,223	$ 233,079	$ 242,818
Other comprehensive (loss) income, net of tax
Change in unrealized holding losses on available-for-sale securities	(17,178)	(3,732)	(69,082)	(9,808)
Amortization of prior service costs and net actuarial loss on pension and other postretirement plans	1,731	3,463	5,198	10,389
Total other comprehensive (loss) income, net of tax	(15,447)	(269)	(63,884)	581
Comprehensive income	$ 68,866	$ 89,954	$ 169,195	$ 243,399

STATEMENTS OF FINANCIAL POSITIO

STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 97,664	$ 183,702
Available-for-sale securities	25,750	38,396
Receivables from Erie Insurance Exchange and affiliates, net	544,353	479,123
Prepaid expenses and other current assets	49,360	56,206
Accrued investment income	7,352	6,303
Total current assets	724,479	763,730
Available-for-sale securities, net	848,937	907,689
Equity securities	68,969	87,743
Fixed assets, net	408,750	374,802
Agent loans, net	60,673	58,683
Deferred income taxes, net	20,859	145
Other assets	45,085	49,265
Total assets	2,177,752	2,242,057
Current liabilities:
Commissions payable	310,225	270,746
Agent bonuses	77,609	120,437
Accounts payable and accrued liabilities	149,020	138,317
Dividends payable	51,693	51,693
Contract liability	36,786	34,935
Deferred executive compensation	8,859	12,637
Current portion of long-term borrowings	0	2,098
Total current liabilities	634,192	630,863
Defined benefit pension plans	131,222	130,383
Long-term borrowings	0	91,734
Contract liability	18,024	17,686
Deferred executive compensation	11,441	14,571
Other long-term liabilities	26,294	14,342
Total liabilities	821,173	899,579
Shareholders’ equity
Additional paid-in-capital	16,481	16,496
Accumulated other comprehensive loss	(89,172)	(25,288)
Retained earnings	2,573,190	2,495,190
Total contributed capital and retained earnings	2,502,669	2,488,568
Treasury stock, at cost; 22,110,132 shares held	(1,168,482)	(1,167,828)
Deferred compensation	22,392	21,738
Total shareholders’ equity	1,356,579	1,342,478
Total liabilities and shareholders’ equity	2,177,752	2,242,057
Class A common stock
Shareholders’ equity
Common stock	1,992	1,992
Class B common stock
Shareholders’ equity
Common stock	$ 178	$ 178

STATEMENTS OF FINANCIAL POSIT_2

STATEMENTS OF FINANCIAL POSITION (Parenthetical)	Sep. 30, 2022 $ / shares shares	Dec. 31, 2021 $ / shares shares
Treasury stock (in shares)	22,110,132	22,110,132
Class A common stock
Common stock, stated value per share (in dollars per share) | $ / shares	$ 0.0292	$ 0.0292
Common stock, authorized (in shares)	74,996,930	74,996,930
Common stock, issued (in shares)	68,299,200	68,299,200
Common stock, outstanding (in shares)	46,189,068	46,189,068
Class B common stock
Common stock, stated value per share (in dollars per share) | $ / shares	$ 70	$ 70
Common stock, authorized (in shares)	3,070	3,070
Common stock, issued (in shares)	2,542	2,542
Common stock, outstanding (in shares)	2,542	2,542
Ratio for converting shares of Class B common stock into shares of Class A common stock	2,400	2,400

STATEMENTS OF SHAREHOLDERS' EQU

STATEMENTS OF SHAREHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands		Total	Class A common stock	Class B common stock	Common stock Class A common stock	Common stock Class B common stock	Additional paid-in-capital	Accumulated other comprehensive loss	Retained earnings	Retained earnings Class A common stock	Retained earnings Class B common stock	Treasury stock	Deferred compensation
Beginning balance at Dec. 31, 2020		$ 1,188,048			$ 1,992	$ 178	$ 16,487	$ (78,143)	$ 2,393,624			$ (1,163,670)	$ 17,580
Increase (decrease) in shareholders' equity
Net income		73,566							73,566
Other comprehensive (loss) income		(5,289)						(5,289)
Dividends declared:			$ (47,806)	$ (395)						$ (47,806)	$ (395)
Net purchase of treasury stock	[1]	9					9					0
Deferred compensation		0										(846)	846
Rabbi trust distribution	[2]	0										876	(876)
Ending balance at Mar. 31, 2021		1,208,133			1,992	178	16,496	(83,432)	2,418,989			(1,163,640)	17,550
Beginning balance at Dec. 31, 2020		1,188,048			1,992	178	16,487	(78,143)	2,393,624			(1,163,670)	17,580
Increase (decrease) in shareholders' equity
Net income		242,818
Other comprehensive (loss) income		581						581
Ending balance at Sep. 30, 2021		1,286,856			1,992	178	16,496	(77,562)	2,491,842			(1,167,490)	21,400
Beginning balance at Mar. 31, 2021		1,208,133			1,992	178	16,496	(83,432)	2,418,989			(1,163,640)	17,550
Increase (decrease) in shareholders' equity
Net income		79,029							79,029
Other comprehensive (loss) income		6,139						6,139
Dividends declared:			(47,805)	(394)						(47,805)	(394)
Net purchase of treasury stock	[1]	0					0					0
Deferred compensation		0										(3,668)	3,668
Rabbi trust distribution	[2]	0										97	(97)
Ending balance at Jun. 30, 2021		1,245,102			1,992	178	16,496	(77,293)	2,449,819			(1,167,211)	21,121
Increase (decrease) in shareholders' equity
Net income		90,223							90,223
Other comprehensive (loss) income		(269)						(269)
Dividends declared:			(47,805)	(395)						(47,805)	(395)
Net purchase of treasury stock	[1]	0					0					0
Deferred compensation		0										(279)	279
Ending balance at Sep. 30, 2021		1,286,856			1,992	178	16,496	(77,562)	2,491,842			(1,167,490)	21,400
Beginning balance at Dec. 31, 2021		1,342,478			1,992	178	16,496	(25,288)	2,495,190			(1,167,828)	21,738
Increase (decrease) in shareholders' equity
Net income		68,619							68,619
Other comprehensive (loss) income		(25,189)						(25,189)
Dividends declared:			(51,270)	(423)						(51,270)	(423)
Net purchase of treasury stock	[3]	(15)					(15)					0
Deferred compensation		0										(802)	802
Rabbi trust distribution	[4]	0										298	(298)
Ending balance at Mar. 31, 2022		1,334,200			1,992	178	16,481	(50,477)	2,512,116			(1,168,332)	22,242
Beginning balance at Dec. 31, 2021		1,342,478			1,992	178	16,496	(25,288)	2,495,190			(1,167,828)	21,738
Increase (decrease) in shareholders' equity
Net income		233,079
Other comprehensive (loss) income		(63,884)						(63,884)
Ending balance at Sep. 30, 2022		1,356,579			1,992	178	16,481	(89,172)	2,573,190			(1,168,482)	22,392
Beginning balance at Mar. 31, 2022		1,334,200			1,992	178	16,481	(50,477)	2,512,116			(1,168,332)	22,242
Increase (decrease) in shareholders' equity
Net income		80,147							80,147
Other comprehensive (loss) income		(23,248)						(23,248)
Dividends declared:			(51,270)	(423)						(51,270)	(423)
Net purchase of treasury stock	[3]	0					0					0
Deferred compensation		0										(907)	907
Rabbi trust distribution	[4]	0										99	(99)
Ending balance at Jun. 30, 2022		1,339,406			1,992	178	16,481	(73,725)	2,540,570			(1,169,140)	23,050
Increase (decrease) in shareholders' equity
Net income		84,313							84,313
Other comprehensive (loss) income		(15,447)						(15,447)
Dividends declared:			$ (51,270)	$ (423)						$ (51,270)	$ (423)
Net purchase of treasury stock	[3]	0					0					0
Deferred compensation		0										(799)	799
Rabbi trust distribution	[4]	0										1,457	(1,457)
Ending balance at Sep. 30, 2022		$ 1,356,579			$ 1,992	$ 178	$ 16,481	$ (89,172)	$ 2,573,190			$ (1,168,482)	$ 22,392
[1]Net purchases of treasury stock in 2021 include the repurchase of our Class A common stock in the open market that were subsequently distributed to satisfy stock based compensation awards.[2]Distributions of our Class A shares were made to a retired director and an incentive compensation deferral plan participant in 2021.[3]Net purchases of treasury stock in 2022 include the repurchase of our Class A common stock in the open market that were subsequently distributed to satisfy stock based compensation awards[4]Distributions of our Class A shares were made from the rabbi trust to four incentive compensation deferral plan participants in 2022.

STATEMENTS OF SHAREHOLDERS' E_2

STATEMENTS OF SHAREHOLDERS' EQUITY (UNAUDITED) (Parenthetical) - $ / shares	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Class A common stock
Dividends declared (in dollars per share)	$ 1.11	$ 1.11	$ 1.11	$ 1.035	$ 1.035	$ 1.035	$ 3.33	$ 3.105
Class B common stock
Dividends declared (in dollars per share)	$ 166.50	$ 166.50	$ 166.50	$ 155.25	$ 155.25	$ 155.25	$ 499.50	$ 465.75

STATEMENTS OF CASH FLOWS (UNAUD

STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities
Management fee received	$ 1,574,694	$ 1,496,372
Administrative services reimbursements received	487,081	471,395
Service agreement fee received	19,025	18,048
Net investment income received	28,901	27,957
Commissions paid to agents	(771,664)	(726,411)
Agents bonuses paid	(131,699)	(119,778)
Salaries and wages paid	(164,726)	(160,784)
Pension contribution and employee benefits paid	(57,222)	(24,592)
General operating expenses paid	(187,152)	(180,028)
Administrative services expenses paid	(497,007)	(471,523)
Income taxes paid	(59,989)	(63,504)
Interest paid	(2,134)	(3,114)
Net cash provided by operating activities	238,108	264,038
Purchase of investments:
Available-for-sale securities	(375,466)	(267,067)
Equity securities	(12,956)	(45,654)
Other investments	(157)	(605)
Proceeds from investments:
Available-for-sale securities sales	238,732	108,869
Available-for-sale securities maturities/calls	111,419	142,614
Equity securities	16,679	54,303
Other investments	429	903
Purchase of fixed assets	(50,885)	(38,097)
Proceeds from disposal of fixed assets	265	0
Loans to agents	(9,570)	(5,648)
Collections on agent loans	6,513	7,224
Net cash used in investing activities	(74,997)	(43,158)
Cash flows from financing activities
Dividends paid to shareholders	(155,079)	(144,600)
Proceeds from short-term borrowings	55,000	0
Payments on short-term borrowings	(55,000)	0
Payments on long-term borrowings	(94,070)	(1,524)
Net cash used in financing activities	(249,149)	(146,124)
Net (decrease) increase in cash and cash equivalents	(86,038)	74,756
Cash and cash equivalents, beginning of period	183,702	161,240
Cash and cash equivalents, end of period	97,664	235,996
Supplemental disclosure of noncash transactions
Liability incurred to purchase fixed assets	26,386	13,102
Operating lease assets obtained in exchange for new operating lease liabilities	$ 3,176	$ 2,379

Nature of Operations

Nature of Operations	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Nature of Operations Erie Indemnity Company ("Indemnity", "we", "us", "our") is a publicly held Pennsylvania business corporation that has since its incorporation in 1925 served as the attorney-in-fact for the subscribers (policyholders) at the Erie Insurance Exchange ("Exchange"). The Exchange, which also commenced business in 1925, is a Pennsylvania-domiciled reciprocal insurer that writes property and casualty insurance. Our primary function as attorney-in-fact is to perform policy issuance and renewal services on behalf of the subscribers at the Exchange. We also act as attorney-in-fact on behalf of the Exchange with respect to all claims handling and investment management services, as well as the service provider for all claims handling, life insurance, and investment management services for its insurance subsidiaries, collectively referred to as "administrative services". Acting as attorney-in-fact in these two capacities is done in accordance with a subscriber's agreement (a limited power of attorney) executed individually by each subscriber (policyholder), which appoints us as their common attorney-in-fact to transact certain business on their behalf. Pursuant to the subscriber's agreement for acting as attorney-in-fact in these two capacities, we earn a management fee calculated as a percentage of the direct and affiliated assumed premiums written by the Exchange. The policy issuance and renewal services we provide to the Exchange are related to the sales, underwriting and issuance of policies. The sales related services we provide include agent compensation and certain sales and advertising support services. Agent compensation includes scheduled commissions to agents based upon premiums written as well as additional commissions and bonuses to agents, which are earned by achieving targeted measures. The underwriting services we provide include underwriting and policy processing. The remaining services we provide include customer service and administrative support. We also provide information technology services that support all the functions listed above. Included in these expenses are allocations of costs for departments that support these policy issuance and renewal functions. By virtue of its legal structure as a reciprocal insurer, the Exchange does not have any employees or officers. Therefore, it enters into contractual relationships by and through an attorney-in-fact. Indemnity serves as the attorney-in-fact on behalf of the Exchange with respect to its administrative services. The Exchange's insurance subsidiaries also utilize Indemnity for these services in accordance with the service agreements between each of the subsidiaries and Indemnity. Claims handling services include costs incurred in the claims process, including the adjustment, investigation, defense, recording and payment functions. Life insurance management services include costs incurred in the management and processing of life insurance business. Investment management services are related to investment trading activity, accounting and all other functions attributable to the investment of funds. Included in these expenses are allocations of costs for departments that support these administrative functions. The subscriber's agreement and service agreements provide for reimbursement of amounts incurred for these services to Indemnity. Reimbursements are settled at cost. State insurance regulations require that intercompany service agreements and any material amendments be approved in advance by the state insurance department. Our results of operations are tied to the growth and financial condition of the Exchange. If any events occurred that impaired the Exchange’s ability to grow or sustain its financial condition, including but not limited to reduced financial strength ratings, disruption in the independent agency relationships, significant catastrophe losses, or products not meeting customer demands, the Exchange could find it more difficult to retain its existing business and attract new business. A decline in the business of the Exchange almost certainly would have as a consequence a decline in the total premiums paid and a correspondingly adverse effect on the amount of the management fees we receive. We also have an exposure to a concentration of credit risk related to the unsecured receivables due from the Exchange for its management fee and cost reimbursements. See Note 12, "Concentrations of Credit Risk". Coronavirus ("COVID-19") pandemic

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of presentation The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the nine months ended September 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. For further information, refer to the financial statements and footnotes included in our Form 10-K for the year ended December 31, 2021 as filed with the Securities and Exchange Commission on February 24, 2022. Use of estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The majority of our revenue is derived from the subscriber’s agreement between us and the subscribers (policyholders) at the Exchange. Pursuant to the subscriber’s agreement, we earn a management fee calculated as a percentage, not to exceed 25%, of all direct and affiliated assumed written premiums of the Exchange. We allocate a portion of our management fee revenue, currently 25% of the direct and affiliated assumed written premiums of the Exchange, between the two performance obligations we have under the subscriber’s agreement. The first performance obligation is to provide policy issuance and renewal services to the subscribers (policyholders) at the Exchange, and the second is to act as attorney-in-fact on behalf of the Exchange, as well as the service provider for its insurance subsidiaries, with respect to all administrative services. The transaction price, including management fee revenue and administrative services reimbursement revenue, includes variable consideration and is allocated based on the estimated standalone selling prices developed using industry information and other available information for similar services. A constraining estimate of variable consideration exists related to the potential for management fees to be returned if a policy were to be cancelled mid-term. Management fees are returned to the Exchange when policyholders cancel their insurance coverage mid-term and premiums are refunded to them. The constraining estimate is determined using the expected value method, based on both historical and current information. The estimated transaction price, as reduced by the constraint, reflects consideration expected for performance of our services. We update the transaction price and the related allocation at least annually based upon the most recent information available or more frequently if there have been significant changes in any components considered in the transaction price. The first performance obligation is to provide policy issuance and renewal services that result in executed insurance policies between the Exchange or one of its insurance subsidiaries and the subscriber (policyholder). The subscriber (policyholder) receives economic benefits when substantially all the policy issuance or renewal services are complete and an insurance policy is issued or renewed by the Exchange or one of its insurance subsidiaries. It is at the time of policy issuance or renewal that the allocated portion of revenue is recognized. The Exchange, by virtue of its legal structure as a reciprocal insurer, does not have any employees or officers. Therefore, it enters into contractual relationships by and through an attorney-in-fact. Indemnity serves as the attorney-in-fact on behalf of the Exchange with respect to its administrative services in accordance with the subscriber's agreement. The Exchange's insurance subsidiaries also utilize Indemnity for these services in accordance with the service agreements between each of the subsidiaries and Indemnity. Collectively, these services represent a second performance obligation under the subscriber’s agreement and the service agreements. The revenue allocated to this performance obligation is recognized over a four-year period representing the time over which these services are provided. The portion of revenue not yet earned is recorded as a contract liability in the Statements of Financial Position. During the three and nine months ending September 30, 2022, we recognized revenue of $7.4 million and $30.1 million, respectively, that was included in the contract liabilities balance as of December 31, 2021. During the three and nine months ended September 30, 2021, we recognized revenue of $7.8 million and $31.7 million, respectively, that was included in the contract liabilities balance as of December 31, 2020. The administrative services expenses we incur and the related reimbursements we receive are recorded gross in the Statements of Operations. Indemnity records a receivable from the Exchange for management fee revenue when the premium is written or assumed by the Exchange. Indemnity collects the management fee from the Exchange when the Exchange collects the premiums from the subscribers (policyholders). As the Exchange issues policies with annual terms only, cash collections generally occur within one year. The following table disaggregates revenue by our two performance obligations: Three months ended September 30, Nine months ended September 30, (in thousands) 2022 2021 2022 2021 Management fee revenue - policy issuance and renewal services $ 551,666 $ 504,891 $ 1,584,213 $ 1,462,880 Management fee revenue - administrative services 14,657 14,471 43,446 43,985 Administrative services reimbursement revenue 168,653 162,410 492,655 473,133 Total administrative services revenue $ 183,310 $ 176,881 $ 536,101 $ 517,118

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Class A and Class B basic earnings per share and Class B diluted earnings per share are calculated under the two-class method. The two-class method allocates earnings to each class of stock based upon its dividend rights. Class B shares are convertible into Class A shares at a conversion ratio of 2,400 to 1. See Note 10, "Capital Stock". Class A diluted earnings per share are calculated under the if-converted method, which reflects the conversion of Class B shares to Class A shares. Diluted earnings per share calculations include the dilutive effect of assumed issuance of stock-based awards under compensation plans that have the option to be paid in stock using the treasury stock method. A reconciliation of the numerators and denominators used in the basic and diluted per-share computations is presented as follows for each class of common stock: Three months ended September 30, 2022 2021 (dollars in thousands, except per share data) Allocated net income (numerator) Weighted shares (denominator) Per-share amount Allocated net income (numerator) Weighted shares (denominator) Per-share amount Class A – Basic EPS: Income available to Class A stockholders $ 83,623 46,189,025 $ 1.81 $ 89,484 46,189,035 $ 1.94 Dilutive effect of stock-based awards 0 6,586 — 0 15,410 — Assumed conversion of Class B shares 690 6,100,800 — 739 6,100,800 — Class A – Diluted EPS: Income available to Class A stockholders on Class A equivalent shares $ 84,313 52,296,411 $ 1.61 $ 90,223 52,305,245 $ 1.72 Class B – Basic and diluted EPS: Income available to Class B stockholders $ 690 2,542 $ 272 $ 739 2,542 $ 291 Nine months ended September 30, 2022 2021 (dollars in thousands, except per share data) Allocated net income (numerator) Weighted shares (denominator) Per-share amount Allocated net income (numerator) Weighted shares (denominator) Per-share amount Class A – Basic EPS: Income available to Class A stockholders $ 231,171 46,188,878 $ 5.00 $ 240,830 46,188,729 $ 5.21 Dilutive effect of stock-based awards 0 8,007 — 0 18,330 — Assumed conversion of Class B shares 1,908 6,100,800 — 1,988 6,100,800 — Class A – Diluted EPS: Income available to Class A stockholders on Class A equivalent shares $ 233,079 52,297,685 $ 4.46 $ 242,818 52,307,859 $ 4.64 Class B – Basic and diluted EPS: Income available to Class B stockholders $ 1,908 2,542 $ 751 $ 1,988 2,542 $ 782

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value	Fair Value Financial instruments carried at fair value Our available-for-sale and equity securities are recorded at fair value, which is the price that would be received to sell the asset in an orderly transaction between willing market participants as of the measurement date. Valuation techniques used to derive the fair value of our available-for-sale and equity securities are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources. Unobservable inputs reflect our own assumptions regarding fair market value for these securities. Financial instruments are categorized based upon the following characteristics or inputs to the valuation techniques: • Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date. • Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 – Unobservable inputs for the asset or liability. Estimates of fair values for our investment portfolio are obtained primarily from a nationally recognized pricing service. Our Level 1 securities are valued using an exchange traded price provided by the pricing service. Pricing service valuations for Level 2 securities include multiple verifiable, observable inputs including benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data. Pricing service valuations for Level 3 securities are based upon proprietary models and are used when observable inputs are not available or in illiquid markets. Although virtually all of our prices are obtained from third party sources, we also perform internal pricing reviews, including evaluating the methodology and inputs used to ensure that we determine the proper classification level of the financial instrument and reviewing securities with price changes that vary significantly from current market conditions or independent price sources. Price variances are investigated and corroborated by market data and transaction volumes. We have reviewed the pricing methodologies of our pricing service as well as other observable inputs and believe that the prices adequately consider market activity in determining fair value. In limited circumstances we adjust the price received from the pricing service when, in our judgment, a better reflection of fair value is available based upon corroborating information and our knowledge and monitoring of market conditions such as a disparity in price of comparable securities and/or non-binding broker quotes. In other circumstances, certain securities are internally priced because prices are not provided by the pricing service. When a price from the pricing service is not available, values are determined by obtaining broker/dealer quotes and/or market comparables. When available, we obtain multiple quotes for the same security. The ultimate value for these securities is determined based upon our best estimate of fair value using corroborating market information. As of September 30, 2022, nearly all of our available-for-sale and equity securities were priced using a third party pricing service. The following tables present our fair value measurements on a recurring basis by asset class and level of input as of: September 30, 2022 (in thousands) Total Level 1 Level 2 Level 3 Available-for-sale securities: Corporate debt securities $ 547,193 $ 0 $ 539,918 $ 7,275 Collateralized debt obligations 100,671 0 100,671 0 Commercial mortgage-backed securities 63,217 0 57,850 5,367 Residential mortgage-backed securities 128,546 0 124,884 3,662 Other debt securities 22,855 0 22,855 0 U.S. Treasury 12,205 0 12,205 0 Total available-for-sale securities 874,687 0 858,383 16,304 Equity securities: Financial services sector 57,595 0 55,747 1,848 Utilities sector 6,072 0 6,072 0 Energy sector 3,513 0 3,513 0 Consumer sector 1,418 0 1,418 0 Communications sector 371 0 371 0 Total equity securities 68,969 0 67,121 1,848 Total $ 943,656 $ 0 $ 925,504 $ 18,152 December 31, 2021 (in thousands) Total Level 1 Level 2 Level 3 Available-for-sale securities: Corporate debt securities $ 573,165 $ 0 $ 567,909 $ 5,256 Collateralized debt obligations 115,462 0 115,462 0 Commercial mortgage-backed securities 89,324 0 73,596 15,728 Residential mortgage-backed securities 139,922 0 131,108 8,814 Other debt securities 23,920 0 23,920 0 U.S. Treasury 4,292 0 4,292 0 Total available-for-sale securities 946,085 0 916,287 29,798 Equity securities: Financial services sector 71,722 1,624 68,015 2,083 Utilities sector 6,259 0 6,259 0 Energy sector 6,448 10 6,438 0 Consumer sector 3,314 0 3,314 0 Total equity securities 87,743 1,634 84,026 2,083 Total $ 1,033,828 $ 1,634 $ 1,000,313 $ 31,881 We review the fair value hierarchy classifications each reporting period. Transfers between hierarchy levels may occur due to changes in available market observable inputs. Level 3 Assets – 2022 Quarterly Change: (in thousands) Beginning balance at June 30, 2022 Included in earnings (1) Included Purchases Sales Transfers into Level 3 (2) Transfers out of Level 3 (2) Ending balance at September 30, 2022 Available-for-sale securities: Corporate debt securities $ 6,109 $ (7) $ (28) $ 753 $ (495) $ 2,899 $ (1,956) $ 7,275 Commercial mortgage-backed securities 8,871 (188) (413) 0 (660) 1,174 (3,417) 5,367 Residential mortgage-backed securities 42,549 (667) (1,708) 0 (6,626) 674 (30,560) 3,662 Total available-for-sale securities 57,529 (862) (2,149) 753 (7,781) 4,747 (35,933) 16,304 Equity securities 1,866 (18) 0 0 0 0 0 1,848 Total Level 3 securities $ 59,395 $ (880) $ (2,149) $ 753 $ (7,781) $ 4,747 $ (35,933) $ 18,152 Level 3 Assets – 2022 Year-to-Date Change: (in thousands) Beginning balance at December 31, 2021 Included in earnings (1) Included Purchases Sales Transfers into Level 3 (2) Transfers out of Level 3 (2) Ending balance at September 30, 2022 Available-for-sale securities: Corporate debt securities $ 5,256 $ (2) $ (417) $ 5,687 $ (3,614) $ 8,673 $ (8,308) $ 7,275 Commercial mortgage-backed securities 15,728 (892) (1,071) 0 (3,825) 5,509 (10,082) 5,367 Residential mortgage-backed securities 8,814 (643) (2,042) 4,887 (9,472) 38,214 (36,096) 3,662 Total available-for-sale securities 29,798 (1,537) (3,530) 10,574 (16,911) 52,396 (54,486) 16,304 Equity securities 2,083 (235) 0 0 0 0 0 1,848 Total Level 3 securities $ 31,881 $ (1,772) $ (3,530) $ 10,574 $ (16,911) $ 52,396 $ (54,486) $ 18,152 Level 3 Assets – 2021 Quarterly Change: (in thousands) Beginning balance at June 30, 2021 Included in earnings (1) Included Purchases Sales Transfers into Level 3 (2) Transfers out of Level 3 (2) Ending balance at September 30, 2021 Available-for-sale securities: Corporate debt securities $ 6,078 $ 7 $ 3 $ 1,995 $ (1,213) $ 1,129 $ (1,802) $ 6,197 Collateralized debt obligations 750 0 0 0 0 0 (750) 0 Commercial mortgage-backed securities 17,133 (90) (143) 229 (2,912) 0 (4,523) 9,694 Residential mortgage-backed securities 3,041 (5) (26) 0 (366) 4,288 (2,644) 4,288 Other debt securities 2,544 0 1 0 (757) 0 (1,334) 454 Total available-for-sale securities 29,546 (88) (165) 2,224 (5,248) 5,417 (11,053) 20,633 Equity securities 1,000 13 0 0 0 1,093 0 2,106 Total Level 3 securities $ 30,546 $ (75) $ (165) $ 2,224 $ (5,248) $ 6,510 $ (11,053) $ 22,739 Level 3 Assets – 2021 Year-to-Date Change: (in thousands) Beginning balance at December 31, 2020 Included in earnings (1) Included Purchases Sales Transfers into Level 3 (2) Transfers out of Level 3 (2) Ending balance at September 30, 2021 Available-for-sale securities: Corporate debt securities $ 5,825 $ 27 $ 82 $ 4,253 $ (1,886) $ 3,678 $ (5,782) $ 6,197 Collateralized debt obligations 0 0 0 750 0 0 (750) 0 Commercial mortgage-backed securities 19,462 (287) (590) 3,073 (3,878) 3,854 (11,940) 9,694 Residential mortgage-backed securities 937 (11) (26) 0 (842) 7,318 (3,088) 4,288 Other debt securities 0 0 (1) 2,588 (799) 0 (1,334) 454 Total available-for-sale securities 26,224 (271) (535) 10,664 (7,405) 14,850 (22,894) 20,633 Equity securities 0 18 0 1,000 0 2,183 (1,095) 2,106 Total Level 3 securities $ 26,224 $ (253) $ (535) $ 11,664 $ (7,405) $ 17,033 $ (23,989) $ 22,739 (1) These amounts are reported as net investment income and net realized and unrealized investment (losses) gains for each of the periods presented above. (2) Transfers into and/or (out) of Level 3 are primarily attributable to the availability of market observable information and the re-evaluation of the observability of pricing inputs. Financial instruments not carried at fair value The following table presents the carrying values and fair values of financial instruments categorized as Level 3 in the fair value hierarchy that are recorded at carrying value as of: September 30, 2022 December 31, 2021 (in thousands) Carrying value Fair value Carrying value Fair value Agent loans (1) $ 69,425 $ 57,457 $ 66,368 $ 68,957 Long-term borrowings — — 94,070 103,981 (1) The discount rate used to calculate fair value at September 30, 2022 is reflective of an increase in the BB+ financial yield curve.

Investments

Investments	9 Months Ended
	Sep. 30, 2022
Investments [Abstract]
Investments	Investments Available-for-sale securities See Note 5, "Fair Value" for additional fair value disclosures. The following tables summarize the cost and estimated fair value, net of credit loss allowance, of our available-for-sale securities as of: September 30, 2022 (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Corporate debt securities $ 591,682 $ 186 $ 44,675 $ 547,193 Collateralized debt obligations 105,938 6 5,273 100,671 Commercial mortgage-backed securities 71,032 0 7,815 63,217 Residential mortgage-backed securities 147,276 1 18,731 128,546 Other debt securities 25,103 0 2,248 22,855 U.S. Treasury 13,266 0 1,061 12,205 Total available-for-sale securities, net $ 954,297 $ 193 $ 79,803 $ 874,687 December 31, 2021 (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Corporate debt securities $ 565,997 $ 9,663 $ 2,495 $ 573,165 Collateralized debt obligations 115,344 456 338 115,462 Commercial mortgage-backed securities 88,636 1,465 777 89,324 Residential mortgage-backed securities 140,217 1,007 1,302 139,922 Other debt securities 23,859 197 136 23,920 U.S. Treasury 4,226 73 7 4,292 Total available-for-sale securities, net $ 938,279 $ 12,861 $ 5,055 $ 946,085 The amortized cost and estimated fair value of available-for-sale securities at September 30, 2022 are shown below by remaining contractual term to maturity. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. September 30, 2022 Amortized Estimated (in thousands) cost fair value Due in one year or less $ 25,891 $ 25,558 Due after one year through five years 424,086 396,166 Due after five years through ten years 217,387 200,110 Due after ten years 286,933 252,853 Total available-for-sale securities, net (1) $ 954,297 $ 874,687 (1) The contractual maturities of our available-for-sale securities are included in the table. However, given our intent to sell certain impaired securities, these securities are classified as current assets in our Statement of Financial Position at September 30, 2022. The below securities have been evaluated and determined to be temporary declines in fair value for which we expect to recover our entire principal plus interest. The following tables present available-for-sale securities based on length of time in a gross unrealized loss position as of: September 30, 2022 Less than 12 months 12 months or longer Total (dollars in thousands) Fair Unrealized Fair Unrealized Fair Unrealized No. of Corporate debt securities $ 488,178 $ 37,243 $ 52,867 $ 7,432 $ 541,045 $ 44,675 1,030 Collateralized debt obligations 67,482 3,368 31,984 1,905 99,466 5,273 159 Commercial mortgage-backed securities 56,265 6,480 6,174 1,335 62,439 7,815 123 Residential mortgage-backed securities 104,610 13,096 23,145 5,635 127,755 18,731 157 Other debt securities 21,428 2,034 1,122 214 22,550 2,248 45 U.S. Treasury 12,205 1,061 0 0 12,205 1,061 3 Total available-for-sale securities $ 750,168 $ 63,282 $ 115,292 $ 16,521 $ 865,460 $ 79,803 1,517 Quality breakdown of available-for-sale securities: Investment grade $ 649,184 $ 51,725 $ 106,235 $ 14,782 $ 755,419 $ 66,507 770 Non-investment grade 100,984 11,557 9,057 1,739 110,041 13,296 747 Total available-for-sale securities $ 750,168 $ 63,282 $ 115,292 $ 16,521 $ 865,460 $ 79,803 1,517 December 31, 2021 Less than 12 months 12 months or longer Total (dollars in thousands) Fair Unrealized Fair Unrealized Fair Unrealized No. of Corporate debt securities $ 179,281 $ 1,912 $ 12,494 $ 583 $ 191,775 $ 2,495 441 Collateralized debt obligations 64,270 278 9,370 60 73,640 338 104 Commercial mortgage-backed securities 28,001 595 917 182 28,918 777 61 Residential mortgage-backed securities 89,460 1,278 441 24 89,901 1,302 98 Other debt securities 14,576 136 0 0 14,576 136 24 U.S. Treasury 388 7 0 0 388 7 1 Total available-for-sale securities $ 375,976 $ 4,206 $ 23,222 $ 849 $ 399,198 $ 5,055 729 Quality breakdown of available-for-sale securities: Investment grade $ 330,697 $ 3,801 $ 17,112 $ 434 $ 347,809 $ 4,235 366 Non-investment grade 45,279 405 6,110 415 51,389 820 363 Total available-for-sale securities $ 375,976 $ 4,206 $ 23,222 $ 849 $ 399,198 $ 5,055 729 Credit loss allowance on investments The current expected credit loss allowance on agent loans was $1.0 million at both September 30, 2022 and December 31, 2021. The current expected credit loss allowance on available-for-sale securities was $0.1 million at September 30, 2022 and less than $0.1 million at December 31, 2021. Net investment income Investment income (loss), net of expenses, was generated from the following portfolios: Three months ended September 30, Nine months ended September 30, (in thousands) 2022 2021 2022 2021 Available-for-sale securities $ 8,546 $ 5,786 $ 21,919 $ 17,773 Equity securities 979 1,030 2,942 3,348 Limited partnerships (1) (4,643) 11,504 (2,158) 26,701 Cash equivalents and other 1,251 862 2,901 2,774 Total investment income 6,133 19,182 25,604 50,596 Less: investment expenses 299 324 998 991 Net investment income $ 5,834 $ 18,858 $ 24,606 $ 49,605 (1) Equity in (losses) earnings of limited partnerships includes both realized gains (losses) and unrealized valuation changes. Our limited partnership investments are included in the line item "Other assets" in the Statements of Financial Position. We have made no new significant limited partnership commitments since 2006, and the balance of limited partnership investments is expected to decline over time as additional distributions are received. Realized and unrealized investment gains (losses) Realized and unrealized gains (losses) on investments were as follows: Three months ended September 30, Nine months ended September 30, (in thousands) 2022 2021 2022 2021 Available-for-sale securities: Gross realized gains $ 146 $ 2,424 $ 1,055 $ 5,422 Gross realized losses (4,752) (235) (10,163) (1,353) Net realized (losses) gains on available-for-sale securities (4,606) 2,189 (9,108) 4,069 Equity securities (1,624) (579) (14,727) 1,113 Miscellaneous 0 0 2 1 Net realized and unrealized investment (losses) gains $ (6,230) $ 1,610 $ (23,833) $ 5,183 The portion of net unrealized (losses) gains recognized during the reporting period related to equity securities held at the reporting date is calculated as follows: Three months ended September 30, Nine months ended September 30, (in thousands) 2022 2021 2022 2021 Equity securities: Net (losses) gains recognized during the period $ (1,624) $ (579) $ (14,727) $ 1,113 Less: net gains (losses) recognized on securities sold 243 (267) (1,327) 5 Net unrealized (losses) gains recognized on securities held at reporting date $ (1,867) $ (312) $ (13,400) $ 1,108 Net impairment (losses) recoveries recognized in earnings Impairments on available-for-sale securities and agent loans were as follows: Three months ended September 30, Nine months ended September 30, (in thousands) 2022 2021 2022 2021 Available-for-sale securities: Intent to sell $ (45) $ (10) $ (146) $ (10) Credit (impaired) recovered (130) (13) (283) 73 Total available-for-sale securities (175) (23) (429) 63 Agent loans - expected credit recoveries 0 153 0 153 Net impairment (losses) recoveries recognized in earnings $ (175) $ 130 $ (429) $ 216

Borrowing Arrangements

Borrowing Arrangements	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Borrowing Arrangements	Borrowing Arrangements Term loan credit facility In 2016, we entered into a credit agreement for a $100 million senior secured draw term loan credit facility ("Credit Facility") for the acquisition of real property and construction of an office building that now serves as part of our principal headquarters. On January 1, 2019, the Credit Facility converted to a fully-amortized term loan with monthly payments of principal and interest at a fixed rate of 4.35% over a period of 28 years. In May 2022, we repaid the remaining $93.2 million balance on the term loan. In conjunction with the payoff, pledged collateral was released and we accelerated amortization of $0.2 million related to unamortized loan origination and commitment fees which is included in interest expense in the Statement of Operations for the nine months ended September 30, 2022. Bank line of credit In October 2021, we entered into a new credit agreement with PNC Bank National Association to provide for a $100 million bank revolving line of credit with a $25 million letter of credit sublimit that expires on October 29, 2026. In May 2022, we borrowed on the line of credit to support the payoff of the term loan. As of September 30, 2022, outstanding borrowings on the line of credit had been repaid and a total of $99.1 million remains available under the facility due to $0.9 million outstanding letters of credit, which reduce availability for letters of credit to $24.1 million. Investments with a fair value of $108.7 million were pledged as collateral on the line of credit at September 30, 2022. These investments have no trading restrictions and are reported as available-for-sale securities and cash and cash equivalents on our Statement of Financial Position as of September 30, 2022. The bank requires compliance with certain covenants, which include leverage ratios and debt restrictions, for our line of credit. We are in compliance with all covenants at September 30, 2022.

Postretirement Benefits

Postretirement Benefits	9 Months Ended
	Sep. 30, 2022
Retirement Benefits [Abstract]
Postretirement Benefits	Postretirement Benefits Pension plans Our pension plans consist of a noncontributory defined benefit pension plan covering substantially all employees and an unfunded supplemental employee retirement plan for certain members of executive and senior management. Although we are the sponsor of these postretirement plans and record the funded status of these plans, the Exchange and its subsidiaries reimburse us for approximately 57% of the annual benefit expense of these plans, which represents pension benefits for employees performing administrative services and their allocated share of costs for employees in departments that support the administrative functions. Our funding policy is generally to contribute an amount equal to the greater of the target normal cost for the plan year, or the amount necessary to fund the plan to 100%. Accordingly, we made a $25 million contribution during the third quarter of 2022. The cost of our pension plans are as follows: Three months ended September 30, Nine months ended September 30, (in thousands) 2022 2021 2022 2021 Service cost for benefits earned $ 12,560 $ 13,260 $ 37,681 $ 39,780 Interest cost on benefits obligation 9,941 9,206 29,823 27,618 Expected return on plan assets (13,639) (12,569) (40,917) (37,706) Prior service cost amortization 361 357 1,082 1,071 Net actuarial loss amortization 1,830 4,027 5,490 12,080 Pension plan cost (1) $ 11,053 $ 14,281 $ 33,159 $ 42,843 (1) The components of pension plan costs other than the service cost component are included in the line item "Other income (expense)" in the Statements of Operations after reimbursements from the Exchange and its subsidiaries.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax expense is provided on an interim basis based upon our estimate of the annual effective income tax rate, adjusted each quarter for discrete items. For the three months ended September 30, 2022 and 2021, our effective tax rate was 20.7% and 20.9%, respectively. For the nine months ended September 30, 2022 and 2021, our effective tax rate was 20.9% and 20.8%, respectively.

Capital Stock

Capital Stock	9 Months Ended
	Sep. 30, 2022
Class of Stock Disclosures [Abstract]
Capital Stock	Capital Stock Class A and B common stock Holders of Class B shares may, at their option, convert their shares into Class A shares at the rate of 2,400 Class A shares per Class B share. There were no shares of Class B common stock converted into Class A common stock during the nine months ended September 30, 2022 and the year ended December 31, 2021. There is no provision for conversion of Class A shares into Class B shares, and Class B shares surrendered for conversion cannot be reissued. Stock repurchases In 2011, our Board of Directors approved a continuation of the current stock repurchase program of $150 million, with no time limitation. There were no shares repurchased under this program during the nine months ended September 30, 2022 and the year ended December 31, 2021. We had approximately $17.8 million of repurchase authority remaining under this program at September 30, 2022.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Changes in accumulated other comprehensive income ("AOCI") (loss) by component, including amounts reclassified to other comprehensive income ("OCI") (loss) and the related line item in the Statements of Operations where net income is presented, are as follows: Three months ended Three months ended September 30, 2022 September 30, 2021 (in thousands) Before Tax Income Tax Net Before Tax Income Tax Net Investment securities: AOCI (loss), beginning of period $ (57,980) $ (12,177) $ (45,803) $ 21,693 $ 4,556 $ 17,137 OCI (loss) before reclassifications (26,524) (5,570) (20,954) (2,557) (537) (2,020) Realized investment losses (gains) 4,606 968 3,638 (2,189) (459) (1,730) Impairment losses 175 37 138 23 5 18 OCI (loss) (21,743) (4,565) (17,178) (4,723) (991) (3,732) AOCI (loss), end of period $ (79,723) $ (16,742) $ (62,981) $ 16,970 $ 3,565 $ 13,405 Pension and other postretirement plans: AOCI (loss), beginning of period $ (35,346) $ (7,424) $ (27,922) $ (119,533) $ (25,103) $ (94,430) Amortization of prior service costs 361 76 285 357 75 282 Amortization of net actuarial loss 1,830 384 1,446 4,027 846 3,181 OCI 2,191 460 1,731 4,384 921 3,463 AOCI (loss), end of period $ (33,155) $ (6,964) $ (26,191) $ (115,149) $ (24,182) $ (90,967) Total AOCI (loss), beginning of period $ (93,326) $ (19,601) $ (73,725) $ (97,840) $ (20,547) $ (77,293) Investment securities (21,743) (4,565) (17,178) (4,723) (991) (3,732) Pension and other postretirement plans 2,191 460 1,731 4,384 921 3,463 OCI (loss) (19,552) (4,105) (15,447) (339) (70) (269) AOCI (loss), end of period $ (112,878) $ (23,706) $ (89,172) $ (98,179) $ (20,617) $ (77,562) Nine months ended Nine months ended September 30, 2022 September 30, 2021 (in thousands) Before Tax Income Tax Net Before Tax Income Tax Net Investment securities: AOCI, beginning of period $ 7,722 $ 1,621 $ 6,101 $ 29,384 $ 6,171 $ 23,213 OCI (loss) before reclassifications (96,982) (20,366) (76,616) (8,282) (1,739) (6,543) Realized investment losses (gains) 9,108 1,913 7,195 (4,069) (854) (3,215) Impairment losses (recoveries) 429 90 339 (63) (13) (50) OCI (loss) (87,445) (18,363) (69,082) (12,414) (2,606) (9,808) AOCI (loss), end of period $ (79,723) $ (16,742) $ (62,981) $ 16,970 $ 3,565 $ 13,405 Pension and other postretirement plans: AOCI (loss), beginning of period $ (39,734) $ (8,345) $ (31,389) $ (128,300) $ (26,944) $ (101,356) Amortization of prior service costs 1,082 227 855 1,071 225 846 Amortization of net actuarial loss 5,497 1,154 4,343 12,080 2,537 9,543 OCI 6,579 1,381 5,198 13,151 2,762 10,389 AOCI (loss), end of period $ (33,155) $ (6,964) $ (26,191) $ (115,149) $ (24,182) $ (90,967) Total AOCI (loss), beginning of period $ (32,012) $ (6,724) $ (25,288) $ (98,916) $ (20,773) $ (78,143) Investment securities (87,445) (18,363) (69,082) (12,414) (2,606) (9,808) Pension and other postretirement plans 6,579 1,381 5,198 13,151 2,762 10,389 OCI (loss) (80,866) (16,982) (63,884) 737 156 581 AOCI (loss), end of period $ (112,878) $ (23,706) $ (89,172) $ (98,179) $ (20,617) $ (77,562)

Concentrations of Credit Risk

Concentrations of Credit Risk	9 Months Ended
	Sep. 30, 2022
Risks and Uncertainties [Abstract]
Concentrations of Credit Risk	Concentrations of Credit RiskFinancial instruments could potentially expose us to concentrations of credit risk, including unsecured receivables from the Exchange. A large majority of our revenue and receivables are from the Exchange and its affiliates. See also Note 1, "Nature of Operations". Net management fee amounts and other reimbursements due from the Exchange and its affiliates were $544.4 million and $479.1 million at September 30, 2022 and December 31, 2021, respectively, which includes a current expected credit loss allowance of $0.5 million in both periods.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In 2020, we entered into an agreement with a bank for the establishment of a loan participation program for agent loans. The maximum amount of loans to be funded through this program is $100 million. We have committed to fund a minimum of 30% of each loan executed through this program. As of September 30, 2022, loans executed under this agreement totaled $47.3 million, of which our portion of the loans is $16.3 million. Additionally, we have agreed to guarantee a portion of the funding provided by the other participants in the program in the event of default. As of September 30, 2022, our maximum potential amount of future payments on the guaranteed portion is $5.8 million. All loan payments under the participation program are current as of September 30, 2022. We are involved in litigation arising in the ordinary course of conducting business. In accordance with current accounting standards for loss contingencies and based upon information currently known to us, we establish reserves for litigation when it is probable that a loss associated with a claim or proceeding has been incurred and the amount of the loss or range of loss can be reasonably estimated. When no amount within the range of loss is a better estimate than any other amount, we accrue the minimum amount of the estimable loss. To the extent that such litigation against us may have an exposure to a loss in excess of the amount we have accrued, we believe that such excess would not be material to our financial condition, results of operations, or cash flows. Legal fees are expensed as incurred. We believe that our accruals for legal proceedings are appropriate and, individually and in the aggregate, are not expected to be material to our financial condition, results of operations, or cash flows. We review all litigation on an ongoing basis when making accrual and disclosure decisions. For certain legal proceedings, we cannot reasonably estimate losses or a range of loss, if any, particularly for proceedings that are in their early stages of development or where the plaintiffs seek indeterminate damages. Various factors, including, but not limited to, the outcome of potentially lengthy discovery and the resolution of important factual questions, may need to be determined before probability can be established or before a loss or range of loss can be reasonably estimated. If the loss contingency in question is not both probable and reasonably estimable, we do not establish an accrual and the matter will continue to be monitored for any developments that would make the loss contingency both probable and reasonably estimable. In the event that a legal proceeding results in a substantial judgment against, or settlement by, us, there can be no assurance that any resulting liability or financial commitment would not have a material adverse effect on the financial condition, results of operations, or cash flows.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsNo items were identified in this period subsequent to the financial statement date that required adjustment or additional disclosure.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the nine months ended September 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. For further information, refer to the financial statements and footnotes included in our Form 10-K for the year ended December 31, 2021 as filed with the Securities and Exchange Commission on February 24, 2022.
Use of estimates	Use of estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Revenue	The majority of our revenue is derived from the subscriber’s agreement between us and the subscribers (policyholders) at the Exchange. Pursuant to the subscriber’s agreement, we earn a management fee calculated as a percentage, not to exceed 25%, of all direct and affiliated assumed written premiums of the Exchange. We allocate a portion of our management fee revenue, currently 25% of the direct and affiliated assumed written premiums of the Exchange, between the two performance obligations we have under the subscriber’s agreement. The first performance obligation is to provide policy issuance and renewal services to the subscribers (policyholders) at the Exchange, and the second is to act as attorney-in-fact on behalf of the Exchange, as well as the service provider for its insurance subsidiaries, with respect to all administrative services. The transaction price, including management fee revenue and administrative services reimbursement revenue, includes variable consideration and is allocated based on the estimated standalone selling prices developed using industry information and other available information for similar services. A constraining estimate of variable consideration exists related to the potential for management fees to be returned if a policy were to be cancelled mid-term. Management fees are returned to the Exchange when policyholders cancel their insurance coverage mid-term and premiums are refunded to them. The constraining estimate is determined using the expected value method, based on both historical and current information. The estimated transaction price, as reduced by the constraint, reflects consideration expected for performance of our services. We update the transaction price and the related allocation at least annually based upon the most recent information available or more frequently if there have been significant changes in any components considered in the transaction price. The first performance obligation is to provide policy issuance and renewal services that result in executed insurance policies between the Exchange or one of its insurance subsidiaries and the subscriber (policyholder). The subscriber (policyholder) receives economic benefits when substantially all the policy issuance or renewal services are complete and an insurance policy is issued or renewed by the Exchange or one of its insurance subsidiaries. It is at the time of policy issuance or renewal that the allocated portion of revenue is recognized.
Earnings per share	Class A and Class B basic earnings per share and Class B diluted earnings per share are calculated under the two-class method. The two-class method allocates earnings to each class of stock based upon its dividend rights.  Class B shares are convertible into Class A shares at a conversion ratio of 2,400 to 1. See Note 10, "Capital Stock".Class A diluted earnings per share are calculated under the if-converted method, which reflects the conversion of Class B shares to Class A shares. Diluted earnings per share calculations include the dilutive effect of assumed issuance of stock-based awards under compensation plans that have the option to be paid in stock using the treasury stock method.
Financial instruments carried at fair value	Financial instruments carried at fair value Our available-for-sale and equity securities are recorded at fair value, which is the price that would be received to sell the asset in an orderly transaction between willing market participants as of the measurement date. Valuation techniques used to derive the fair value of our available-for-sale and equity securities are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources. Unobservable inputs reflect our own assumptions regarding fair market value for these securities. Financial instruments are categorized based upon the following characteristics or inputs to the valuation techniques: • Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date. • Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 – Unobservable inputs for the asset or liability. Estimates of fair values for our investment portfolio are obtained primarily from a nationally recognized pricing service. Our Level 1 securities are valued using an exchange traded price provided by the pricing service. Pricing service valuations for Level 2 securities include multiple verifiable, observable inputs including benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data. Pricing service valuations for Level 3 securities are based upon proprietary models and are used when observable inputs are not available or in illiquid markets. Although virtually all of our prices are obtained from third party sources, we also perform internal pricing reviews, including evaluating the methodology and inputs used to ensure that we determine the proper classification level of the financial instrument and reviewing securities with price changes that vary significantly from current market conditions or independent price sources. Price variances are investigated and corroborated by market data and transaction volumes. We have reviewed the pricing methodologies of our pricing service as well as other observable inputs and believe that the prices adequately consider market activity in determining fair value. In limited circumstances we adjust the price received from the pricing service when, in our judgment, a better reflection of fair value is available based upon corroborating information and our knowledge and monitoring of market conditions such as a disparity in price of comparable securities and/or non-binding broker quotes. In other circumstances, certain securities are internally priced because prices are not provided by the pricing service. When a price from the pricing service is not available, values are determined by obtaining broker/dealer quotes and/or market comparables. When available, we obtain multiple quotes for the same security. The ultimate value for these securities is determined based upon our best estimate of fair value using corroborating market information. As of September 30, 2022, nearly all of our available-for-sale and equity securities were priced using a third party pricing service.
Fair value of financial instruments, transfers between levels	We review the fair value hierarchy classifications each reporting period. Transfers between hierarchy levels may occur due to changes in available market observable inputs.
Commitments and contingencies	We are involved in litigation arising in the ordinary course of conducting business. In accordance with current accounting standards for loss contingencies and based upon information currently known to us, we establish reserves for litigation when it is probable that a loss associated with a claim or proceeding has been incurred and the amount of the loss or range of loss can be reasonably estimated. When no amount within the range of loss is a better estimate than any other amount, we accrue the minimum amount of the estimable loss. To the extent that such litigation against us may have an exposure to a loss in excess of the amount we have accrued, we believe that such excess would not be material to our financial condition, results of operations, or cash flows. Legal fees are expensed as incurred. We believe that our accruals for legal proceedings are appropriate and, individually and in the aggregate, are not expected to be material to our financial condition, results of operations, or cash flows. We review all litigation on an ongoing basis when making accrual and disclosure decisions. For certain legal proceedings, we cannot reasonably estimate losses or a range of loss, if any, particularly for proceedings that are in their early stages of development or where the plaintiffs seek indeterminate damages. Various factors, including, but not limited to, the outcome of potentially lengthy discovery and the resolution of important factual questions, may need to be determined before probability can be established or before a loss or range of loss can be reasonably estimated. If the loss contingency in question is not both probable and reasonably estimable, we do not establish an accrual and the matter will continue to be monitored for any developments that would make the loss contingency both probable and reasonably estimable. In the event that a legal proceeding results in a substantial judgment against, or settlement by, us, there can be no assurance that any resulting liability or financial commitment would not have a material adverse effect on the financial condition, results of operations, or cash flows.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue by Performance Obligation	The following table disaggregates revenue by our two performance obligations: Three months ended September 30, Nine months ended September 30, (in thousands) 2022 2021 2022 2021 Management fee revenue - policy issuance and renewal services $ 551,666 $ 504,891 $ 1,584,213 $ 1,462,880 Management fee revenue - administrative services 14,657 14,471 43,446 43,985 Administrative services reimbursement revenue 168,653 162,410 492,655 473,133 Total administrative services revenue $ 183,310 $ 176,881 $ 536,101 $ 517,118

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Reconciliation of the Numerators and Denominators Used in the Basic and Diluted Per-Share Computations	A reconciliation of the numerators and denominators used in the basic and diluted per-share computations is presented as follows for each class of common stock: Three months ended September 30, 2022 2021 (dollars in thousands, except per share data) Allocated net income (numerator) Weighted shares (denominator) Per-share amount Allocated net income (numerator) Weighted shares (denominator) Per-share amount Class A – Basic EPS: Income available to Class A stockholders $ 83,623 46,189,025 $ 1.81 $ 89,484 46,189,035 $ 1.94 Dilutive effect of stock-based awards 0 6,586 — 0 15,410 — Assumed conversion of Class B shares 690 6,100,800 — 739 6,100,800 — Class A – Diluted EPS: Income available to Class A stockholders on Class A equivalent shares $ 84,313 52,296,411 $ 1.61 $ 90,223 52,305,245 $ 1.72 Class B – Basic and diluted EPS: Income available to Class B stockholders $ 690 2,542 $ 272 $ 739 2,542 $ 291 Nine months ended September 30, 2022 2021 (dollars in thousands, except per share data) Allocated net income (numerator) Weighted shares (denominator) Per-share amount Allocated net income (numerator) Weighted shares (denominator) Per-share amount Class A – Basic EPS: Income available to Class A stockholders $ 231,171 46,188,878 $ 5.00 $ 240,830 46,188,729 $ 5.21 Dilutive effect of stock-based awards 0 8,007 — 0 18,330 — Assumed conversion of Class B shares 1,908 6,100,800 — 1,988 6,100,800 — Class A – Diluted EPS: Income available to Class A stockholders on Class A equivalent shares $ 233,079 52,297,685 $ 4.46 $ 242,818 52,307,859 $ 4.64 Class B – Basic and diluted EPS: Income available to Class B stockholders $ 1,908 2,542 $ 751 $ 1,988 2,542 $ 782

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurements on a Recurring Basis by Asset Class and Level of Input	The following tables present our fair value measurements on a recurring basis by asset class and level of input as of: September 30, 2022 (in thousands) Total Level 1 Level 2 Level 3 Available-for-sale securities: Corporate debt securities $ 547,193 $ 0 $ 539,918 $ 7,275 Collateralized debt obligations 100,671 0 100,671 0 Commercial mortgage-backed securities 63,217 0 57,850 5,367 Residential mortgage-backed securities 128,546 0 124,884 3,662 Other debt securities 22,855 0 22,855 0 U.S. Treasury 12,205 0 12,205 0 Total available-for-sale securities 874,687 0 858,383 16,304 Equity securities: Financial services sector 57,595 0 55,747 1,848 Utilities sector 6,072 0 6,072 0 Energy sector 3,513 0 3,513 0 Consumer sector 1,418 0 1,418 0 Communications sector 371 0 371 0 Total equity securities 68,969 0 67,121 1,848 Total $ 943,656 $ 0 $ 925,504 $ 18,152 December 31, 2021 (in thousands) Total Level 1 Level 2 Level 3 Available-for-sale securities: Corporate debt securities $ 573,165 $ 0 $ 567,909 $ 5,256 Collateralized debt obligations 115,462 0 115,462 0 Commercial mortgage-backed securities 89,324 0 73,596 15,728 Residential mortgage-backed securities 139,922 0 131,108 8,814 Other debt securities 23,920 0 23,920 0 U.S. Treasury 4,292 0 4,292 0 Total available-for-sale securities 946,085 0 916,287 29,798 Equity securities: Financial services sector 71,722 1,624 68,015 2,083 Utilities sector 6,259 0 6,259 0 Energy sector 6,448 10 6,438 0 Consumer sector 3,314 0 3,314 0 Total equity securities 87,743 1,634 84,026 2,083 Total $ 1,033,828 $ 1,634 $ 1,000,313 $ 31,881
Schedule of Roll Forward of Level 3 Fair Value Measurements on a Recurring Basis	Level 3 Assets – 2022 Quarterly Change: (in thousands) Beginning balance at June 30, 2022 Included in earnings (1) Included Purchases Sales Transfers into Level 3 (2) Transfers out of Level 3 (2) Ending balance at September 30, 2022 Available-for-sale securities: Corporate debt securities $ 6,109 $ (7) $ (28) $ 753 $ (495) $ 2,899 $ (1,956) $ 7,275 Commercial mortgage-backed securities 8,871 (188) (413) 0 (660) 1,174 (3,417) 5,367 Residential mortgage-backed securities 42,549 (667) (1,708) 0 (6,626) 674 (30,560) 3,662 Total available-for-sale securities 57,529 (862) (2,149) 753 (7,781) 4,747 (35,933) 16,304 Equity securities 1,866 (18) 0 0 0 0 0 1,848 Total Level 3 securities $ 59,395 $ (880) $ (2,149) $ 753 $ (7,781) $ 4,747 $ (35,933) $ 18,152 Level 3 Assets – 2022 Year-to-Date Change: (in thousands) Beginning balance at December 31, 2021 Included in earnings (1) Included Purchases Sales Transfers into Level 3 (2) Transfers out of Level 3 (2) Ending balance at September 30, 2022 Available-for-sale securities: Corporate debt securities $ 5,256 $ (2) $ (417) $ 5,687 $ (3,614) $ 8,673 $ (8,308) $ 7,275 Commercial mortgage-backed securities 15,728 (892) (1,071) 0 (3,825) 5,509 (10,082) 5,367 Residential mortgage-backed securities 8,814 (643) (2,042) 4,887 (9,472) 38,214 (36,096) 3,662 Total available-for-sale securities 29,798 (1,537) (3,530) 10,574 (16,911) 52,396 (54,486) 16,304 Equity securities 2,083 (235) 0 0 0 0 0 1,848 Total Level 3 securities $ 31,881 $ (1,772) $ (3,530) $ 10,574 $ (16,911) $ 52,396 $ (54,486) $ 18,152 Level 3 Assets – 2021 Quarterly Change: (in thousands) Beginning balance at June 30, 2021 Included in earnings (1) Included Purchases Sales Transfers into Level 3 (2) Transfers out of Level 3 (2) Ending balance at September 30, 2021 Available-for-sale securities: Corporate debt securities $ 6,078 $ 7 $ 3 $ 1,995 $ (1,213) $ 1,129 $ (1,802) $ 6,197 Collateralized debt obligations 750 0 0 0 0 0 (750) 0 Commercial mortgage-backed securities 17,133 (90) (143) 229 (2,912) 0 (4,523) 9,694 Residential mortgage-backed securities 3,041 (5) (26) 0 (366) 4,288 (2,644) 4,288 Other debt securities 2,544 0 1 0 (757) 0 (1,334) 454 Total available-for-sale securities 29,546 (88) (165) 2,224 (5,248) 5,417 (11,053) 20,633 Equity securities 1,000 13 0 0 0 1,093 0 2,106 Total Level 3 securities $ 30,546 $ (75) $ (165) $ 2,224 $ (5,248) $ 6,510 $ (11,053) $ 22,739 Level 3 Assets – 2021 Year-to-Date Change: (in thousands) Beginning balance at December 31, 2020 Included in earnings (1) Included Purchases Sales Transfers into Level 3 (2) Transfers out of Level 3 (2) Ending balance at September 30, 2021 Available-for-sale securities: Corporate debt securities $ 5,825 $ 27 $ 82 $ 4,253 $ (1,886) $ 3,678 $ (5,782) $ 6,197 Collateralized debt obligations 0 0 0 750 0 0 (750) 0 Commercial mortgage-backed securities 19,462 (287) (590) 3,073 (3,878) 3,854 (11,940) 9,694 Residential mortgage-backed securities 937 (11) (26) 0 (842) 7,318 (3,088) 4,288 Other debt securities 0 0 (1) 2,588 (799) 0 (1,334) 454 Total available-for-sale securities 26,224 (271) (535) 10,664 (7,405) 14,850 (22,894) 20,633 Equity securities 0 18 0 1,000 0 2,183 (1,095) 2,106 Total Level 3 securities $ 26,224 $ (253) $ (535) $ 11,664 $ (7,405) $ 17,033 $ (23,989) $ 22,739 (1) These amounts are reported as net investment income and net realized and unrealized investment (losses) gains for each of the periods presented above. (2) Transfers into and/or (out) of Level 3 are primarily attributable to the availability of market observable information and the re-evaluation of the observability of pricing inputs.
Schedule of Financial Instruments Not Carried at Fair Value	The following table presents the carrying values and fair values of financial instruments categorized as Level 3 in the fair value hierarchy that are recorded at carrying value as of: September 30, 2022 December 31, 2021 (in thousands) Carrying value Fair value Carrying value Fair value Agent loans (1) $ 69,425 $ 57,457 $ 66,368 $ 68,957 Long-term borrowings — — 94,070 103,981 (1) The discount rate used to calculate fair value at September 30, 2022 is reflective of an increase in the BB+ financial yield curve.

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2022
Investments [Abstract]
Schedule of Reconciliation of Cost to Fair Value, Net of Credit Loss Allowance, of Available-For-Sale Securities	The following tables summarize the cost and estimated fair value, net of credit loss allowance, of our available-for-sale securities as of: September 30, 2022 (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Corporate debt securities $ 591,682 $ 186 $ 44,675 $ 547,193 Collateralized debt obligations 105,938 6 5,273 100,671 Commercial mortgage-backed securities 71,032 0 7,815 63,217 Residential mortgage-backed securities 147,276 1 18,731 128,546 Other debt securities 25,103 0 2,248 22,855 U.S. Treasury 13,266 0 1,061 12,205 Total available-for-sale securities, net $ 954,297 $ 193 $ 79,803 $ 874,687 December 31, 2021 (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Corporate debt securities $ 565,997 $ 9,663 $ 2,495 $ 573,165 Collateralized debt obligations 115,344 456 338 115,462 Commercial mortgage-backed securities 88,636 1,465 777 89,324 Residential mortgage-backed securities 140,217 1,007 1,302 139,922 Other debt securities 23,859 197 136 23,920 U.S. Treasury 4,226 73 7 4,292 Total available-for-sale securities, net $ 938,279 $ 12,861 $ 5,055 $ 946,085
Schedule of Amortized Cost and Estimated Fair Value, Net of Credit Loss Allowance, of Available-For-Sale Securities by Remaining Contractual Term to Maturity	The amortized cost and estimated fair value of available-for-sale securities at September 30, 2022 are shown below by remaining contractual term to maturity. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. September 30, 2022 Amortized Estimated (in thousands) cost fair value Due in one year or less $ 25,891 $ 25,558 Due after one year through five years 424,086 396,166 Due after five years through ten years 217,387 200,110 Due after ten years 286,933 252,853 Total available-for-sale securities, net (1) $ 954,297 $ 874,687 (1) The contractual maturities of our available-for-sale securities are included in the table. However, given our intent to sell certain impaired securities, these securities are classified as current assets in our Statement of Financial Position at September 30, 2022.
Schedule of Available -For-Sale Securities in a Gross Unrealized Loss Position by Length of Time	The below securities have been evaluated and determined to be temporary declines in fair value for which we expect to recover our entire principal plus interest. The following tables present available-for-sale securities based on length of time in a gross unrealized loss position as of: September 30, 2022 Less than 12 months 12 months or longer Total (dollars in thousands) Fair Unrealized Fair Unrealized Fair Unrealized No. of Corporate debt securities $ 488,178 $ 37,243 $ 52,867 $ 7,432 $ 541,045 $ 44,675 1,030 Collateralized debt obligations 67,482 3,368 31,984 1,905 99,466 5,273 159 Commercial mortgage-backed securities 56,265 6,480 6,174 1,335 62,439 7,815 123 Residential mortgage-backed securities 104,610 13,096 23,145 5,635 127,755 18,731 157 Other debt securities 21,428 2,034 1,122 214 22,550 2,248 45 U.S. Treasury 12,205 1,061 0 0 12,205 1,061 3 Total available-for-sale securities $ 750,168 $ 63,282 $ 115,292 $ 16,521 $ 865,460 $ 79,803 1,517 Quality breakdown of available-for-sale securities: Investment grade $ 649,184 $ 51,725 $ 106,235 $ 14,782 $ 755,419 $ 66,507 770 Non-investment grade 100,984 11,557 9,057 1,739 110,041 13,296 747 Total available-for-sale securities $ 750,168 $ 63,282 $ 115,292 $ 16,521 $ 865,460 $ 79,803 1,517 December 31, 2021 Less than 12 months 12 months or longer Total (dollars in thousands) Fair Unrealized Fair Unrealized Fair Unrealized No. of Corporate debt securities $ 179,281 $ 1,912 $ 12,494 $ 583 $ 191,775 $ 2,495 441 Collateralized debt obligations 64,270 278 9,370 60 73,640 338 104 Commercial mortgage-backed securities 28,001 595 917 182 28,918 777 61 Residential mortgage-backed securities 89,460 1,278 441 24 89,901 1,302 98 Other debt securities 14,576 136 0 0 14,576 136 24 U.S. Treasury 388 7 0 0 388 7 1 Total available-for-sale securities $ 375,976 $ 4,206 $ 23,222 $ 849 $ 399,198 $ 5,055 729 Quality breakdown of available-for-sale securities: Investment grade $ 330,697 $ 3,801 $ 17,112 $ 434 $ 347,809 $ 4,235 366 Non-investment grade 45,279 405 6,110 415 51,389 820 363 Total available-for-sale securities $ 375,976 $ 4,206 $ 23,222 $ 849 $ 399,198 $ 5,055 729
Schedule of Investment Income (Loss), Net of Expenses, from Portfolios	Investment income (loss), net of expenses, was generated from the following portfolios: Three months ended September 30, Nine months ended September 30, (in thousands) 2022 2021 2022 2021 Available-for-sale securities $ 8,546 $ 5,786 $ 21,919 $ 17,773 Equity securities 979 1,030 2,942 3,348 Limited partnerships (1) (4,643) 11,504 (2,158) 26,701 Cash equivalents and other 1,251 862 2,901 2,774 Total investment income 6,133 19,182 25,604 50,596 Less: investment expenses 299 324 998 991 Net investment income $ 5,834 $ 18,858 $ 24,606 $ 49,605 (1) Equity in (losses) earnings of limited partnerships includes both realized gains (losses) and unrealized valuation changes. Our limited partnership investments are included in the line item "Other assets" in the Statements of Financial Position. We have made no new significant limited partnership commitments since 2006, and the balance of limited partnership investments is expected to decline over time as additional distributions are received.
Schedule of Realized and Unrealized Gains and Losses on Investments and Net Unrealized Gains and Losses Recognized during the Reporting Period Related to Equity Securities Held at the Reporting Date	Realized and unrealized gains (losses) on investments were as follows: Three months ended September 30, Nine months ended September 30, (in thousands) 2022 2021 2022 2021 Available-for-sale securities: Gross realized gains $ 146 $ 2,424 $ 1,055 $ 5,422 Gross realized losses (4,752) (235) (10,163) (1,353) Net realized (losses) gains on available-for-sale securities (4,606) 2,189 (9,108) 4,069 Equity securities (1,624) (579) (14,727) 1,113 Miscellaneous 0 0 2 1 Net realized and unrealized investment (losses) gains $ (6,230) $ 1,610 $ (23,833) $ 5,183 The portion of net unrealized (losses) gains recognized during the reporting period related to equity securities held at the reporting date is calculated as follows: Three months ended September 30, Nine months ended September 30, (in thousands) 2022 2021 2022 2021 Equity securities: Net (losses) gains recognized during the period $ (1,624) $ (579) $ (14,727) $ 1,113 Less: net gains (losses) recognized on securities sold 243 (267) (1,327) 5 Net unrealized (losses) gains recognized on securities held at reporting date $ (1,867) $ (312) $ (13,400) $ 1,108
Schedule of Impairments on Available-For-Sale Securities and Agent Loans	Impairments on available-for-sale securities and agent loans were as follows: Three months ended September 30, Nine months ended September 30, (in thousands) 2022 2021 2022 2021 Available-for-sale securities: Intent to sell $ (45) $ (10) $ (146) $ (10) Credit (impaired) recovered (130) (13) (283) 73 Total available-for-sale securities (175) (23) (429) 63 Agent loans - expected credit recoveries 0 153 0 153 Net impairment (losses) recoveries recognized in earnings $ (175) $ 130 $ (429) $ 216

Postretirement Benefits (Tables

Postretirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2022
Retirement Benefits [Abstract]
Schedule of Cost of Pension Plans	The cost of our pension plans are as follows: Three months ended September 30, Nine months ended September 30, (in thousands) 2022 2021 2022 2021 Service cost for benefits earned $ 12,560 $ 13,260 $ 37,681 $ 39,780 Interest cost on benefits obligation 9,941 9,206 29,823 27,618 Expected return on plan assets (13,639) (12,569) (40,917) (37,706) Prior service cost amortization 361 357 1,082 1,071 Net actuarial loss amortization 1,830 4,027 5,490 12,080 Pension plan cost (1) $ 11,053 $ 14,281 $ 33,159 $ 42,843 (1) The components of pension plan costs other than the service cost component are included in the line item "Other income (expense)" in the Statements of Operations after reimbursements from the Exchange and its subsidiaries.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income (Loss) by Component, Including Amounts Reclassified to Other Comprehensive Income (Loss) and the Related Line Item in the Statements of Operations Where Net Income is Presented	Changes in accumulated other comprehensive income ("AOCI") (loss) by component, including amounts reclassified to other comprehensive income ("OCI") (loss) and the related line item in the Statements of Operations where net income is presented, are as follows: Three months ended Three months ended September 30, 2022 September 30, 2021 (in thousands) Before Tax Income Tax Net Before Tax Income Tax Net Investment securities: AOCI (loss), beginning of period $ (57,980) $ (12,177) $ (45,803) $ 21,693 $ 4,556 $ 17,137 OCI (loss) before reclassifications (26,524) (5,570) (20,954) (2,557) (537) (2,020) Realized investment losses (gains) 4,606 968 3,638 (2,189) (459) (1,730) Impairment losses 175 37 138 23 5 18 OCI (loss) (21,743) (4,565) (17,178) (4,723) (991) (3,732) AOCI (loss), end of period $ (79,723) $ (16,742) $ (62,981) $ 16,970 $ 3,565 $ 13,405 Pension and other postretirement plans: AOCI (loss), beginning of period $ (35,346) $ (7,424) $ (27,922) $ (119,533) $ (25,103) $ (94,430) Amortization of prior service costs 361 76 285 357 75 282 Amortization of net actuarial loss 1,830 384 1,446 4,027 846 3,181 OCI 2,191 460 1,731 4,384 921 3,463 AOCI (loss), end of period $ (33,155) $ (6,964) $ (26,191) $ (115,149) $ (24,182) $ (90,967) Total AOCI (loss), beginning of period $ (93,326) $ (19,601) $ (73,725) $ (97,840) $ (20,547) $ (77,293) Investment securities (21,743) (4,565) (17,178) (4,723) (991) (3,732) Pension and other postretirement plans 2,191 460 1,731 4,384 921 3,463 OCI (loss) (19,552) (4,105) (15,447) (339) (70) (269) AOCI (loss), end of period $ (112,878) $ (23,706) $ (89,172) $ (98,179) $ (20,617) $ (77,562) Nine months ended Nine months ended September 30, 2022 September 30, 2021 (in thousands) Before Tax Income Tax Net Before Tax Income Tax Net Investment securities: AOCI, beginning of period $ 7,722 $ 1,621 $ 6,101 $ 29,384 $ 6,171 $ 23,213 OCI (loss) before reclassifications (96,982) (20,366) (76,616) (8,282) (1,739) (6,543) Realized investment losses (gains) 9,108 1,913 7,195 (4,069) (854) (3,215) Impairment losses (recoveries) 429 90 339 (63) (13) (50) OCI (loss) (87,445) (18,363) (69,082) (12,414) (2,606) (9,808) AOCI (loss), end of period $ (79,723) $ (16,742) $ (62,981) $ 16,970 $ 3,565 $ 13,405 Pension and other postretirement plans: AOCI (loss), beginning of period $ (39,734) $ (8,345) $ (31,389) $ (128,300) $ (26,944) $ (101,356) Amortization of prior service costs 1,082 227 855 1,071 225 846 Amortization of net actuarial loss 5,497 1,154 4,343 12,080 2,537 9,543 OCI 6,579 1,381 5,198 13,151 2,762 10,389 AOCI (loss), end of period $ (33,155) $ (6,964) $ (26,191) $ (115,149) $ (24,182) $ (90,967) Total AOCI (loss), beginning of period $ (32,012) $ (6,724) $ (25,288) $ (98,916) $ (20,773) $ (78,143) Investment securities (87,445) (18,363) (69,082) (12,414) (2,606) (9,808) Pension and other postretirement plans 6,579 1,381 5,198 13,151 2,762 10,389 OCI (loss) (80,866) (16,982) (63,884) 737 156 581 AOCI (loss), end of period $ (112,878) $ (23,706) $ (89,172) $ (98,179) $ (20,617) $ (77,562)

Nature of Operations (Details)

Nature of Operations (Details)	9 Months Ended
	Sep. 30, 2022 obligation
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Performance obligations under subscriber's agreement	2

Revenue - Narrative (Details)

Revenue - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) obligation	Sep. 30, 2021 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Indemnity's management fee rate as a percent of direct and affiliated assumed written premiums of the Exchange			25%
Performance obligations under subscriber's agreement | obligation			2
Revenue recognized that was included in the contract liability at prior year-end | $	$ 7.4	$ 7.8	$ 30.1	$ 31.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, satisfaction period	4 years		4 years

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenues By Performance Obligations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of revenue by performance obligation
Revenue	$ 741,236	$ 687,839	$ 2,139,489	$ 1,998,046
Management fee revenue - policy issuance and renewal services
Disaggregation of revenue by performance obligation
Revenue	551,666	504,891	1,584,213	1,462,880
Management fee revenue - policy issuance and renewal services | Transferred at point in time
Disaggregation of revenue by performance obligation
Revenue	551,666	504,891	1,584,213	1,462,880
Administrative services | Transferred over time
Disaggregation of revenue by performance obligation
Revenue	183,310	176,881	536,101	517,118
Management fee revenue - administrative services
Disaggregation of revenue by performance obligation
Revenue	14,657	14,471	43,446	43,985
Management fee revenue - administrative services | Transferred over time
Disaggregation of revenue by performance obligation
Revenue	14,657	14,471	43,446	43,985
Administrative services reimbursement revenue
Disaggregation of revenue by performance obligation
Revenue	168,653	162,410	492,655	473,133
Administrative services reimbursement revenue | Transferred over time
Disaggregation of revenue by performance obligation
Revenue	$ 168,653	$ 162,410	$ 492,655	$ 473,133

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details)	Sep. 30, 2022	Dec. 31, 2021
Class B common stock
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Ratio for converting shares of Class B common stock into shares of Class A common stock	2,400	2,400

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Class A common stock
Income available to stockholders (Basic EPS:)
Allocated net income (numerator)	$ 83,623	$ 89,484	$ 231,171	$ 240,830
Weighted shares (denominator) (in shares)	46,189,025	46,189,035	46,188,878	46,188,729
Per-share amount (in dollars per share)	$ 1.81	$ 1.94	$ 5	$ 5.21
Dilutive effect of stock-based awards
Allocated net income (numerator)	$ 0	$ 0	$ 0	$ 0
Weighted shares (denominator) (in shares)	6,586	15,410	8,007	18,330
Assumed conversion of Class B shares
Allocated net income (numerator)	$ 690	$ 739	$ 1,908	$ 1,988
Weighted shares (denominator) (in shares)	6,100,800	6,100,800	6,100,800	6,100,800
Income available to stockholders on equivalent shares (Diluted EPS:)
Allocated net income (numerator)	$ 84,313	$ 90,223	$ 233,079	$ 242,818
Weighted shares (denominator) (in shares)	52,296,411	52,305,245	52,297,685	52,307,859
Per-share amount (in dollars per share)	$ 1.61	$ 1.72	$ 4.46	$ 4.64
Class B common stock
Income available to stockholders (Basic EPS:)
Allocated net income (numerator)	$ 690	$ 739	$ 1,908	$ 1,988
Weighted shares (denominator) (in shares)	2,542	2,542	2,542	2,542
Per-share amount (in dollars per share)	$ 272	$ 291	$ 751	$ 782
Income available to stockholders on equivalent shares (Diluted EPS:)
Allocated net income (numerator)	$ 690	$ 739	$ 1,908	$ 1,988
Weighted shares (denominator) (in shares)	2,542	2,542	2,542	2,542
Per-share amount (in dollars per share)	$ 272	$ 291	$ 751	$ 782

Fair Value - Fair Value Measure

Fair Value - Fair Value Measurements on a Recurring Basis by Asset Class and Level of Input (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	$ 874,687
Available-for-sale securities
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	874,687	$ 946,085
Corporate debt securities
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	547,193	573,165
Collateralized debt obligations
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	100,671	115,462
Commercial mortgage-backed securities
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	63,217	89,324
Residential mortgage-backed securities
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	128,546	139,922
Other debt securities
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	22,855	23,920
U.S. Treasury
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	12,205	4,292
Fair Value, Measurements, Recurring Basis
Fair value measurements on a recurring basis by asset class and level of input
Total	943,656	1,033,828
Fair Value, Measurements, Recurring Basis | Available-for-sale securities
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	874,687	946,085
Fair Value, Measurements, Recurring Basis | Corporate debt securities
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	547,193	573,165
Fair Value, Measurements, Recurring Basis | Collateralized debt obligations
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	100,671	115,462
Fair Value, Measurements, Recurring Basis | Commercial mortgage-backed securities
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	63,217	89,324
Fair Value, Measurements, Recurring Basis | Residential mortgage-backed securities
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	128,546	139,922
Fair Value, Measurements, Recurring Basis | Other debt securities
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	22,855	23,920
Fair Value, Measurements, Recurring Basis | U.S. Treasury
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	12,205	4,292
Fair Value, Measurements, Recurring Basis | Equity securities
Fair value measurements on a recurring basis by asset class and level of input
Total equity securities	68,969	87,743
Fair Value, Measurements, Recurring Basis | Equity securities | Financial services sector
Fair value measurements on a recurring basis by asset class and level of input
Total equity securities	57,595	71,722
Fair Value, Measurements, Recurring Basis | Equity securities | Utilities sector
Fair value measurements on a recurring basis by asset class and level of input
Total equity securities	6,072	6,259
Fair Value, Measurements, Recurring Basis | Equity securities | Energy sector
Fair value measurements on a recurring basis by asset class and level of input
Total equity securities	3,513	6,448
Fair Value, Measurements, Recurring Basis | Equity securities | Consumer sector
Fair value measurements on a recurring basis by asset class and level of input
Total equity securities	1,418	3,314
Fair Value, Measurements, Recurring Basis | Equity securities | Communications sector
Fair value measurements on a recurring basis by asset class and level of input
Total equity securities	371
Fair Value, Measurements, Recurring Basis | Level 1
Fair value measurements on a recurring basis by asset class and level of input
Total	0	1,634
Fair Value, Measurements, Recurring Basis | Level 1 | Available-for-sale securities
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	0	0
Fair Value, Measurements, Recurring Basis | Level 1 | Corporate debt securities
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	0	0
Fair Value, Measurements, Recurring Basis | Level 1 | Collateralized debt obligations
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	0	0
Fair Value, Measurements, Recurring Basis | Level 1 | Commercial mortgage-backed securities
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	0	0
Fair Value, Measurements, Recurring Basis | Level 1 | Residential mortgage-backed securities
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	0	0
Fair Value, Measurements, Recurring Basis | Level 1 | Other debt securities
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	0	0
Fair Value, Measurements, Recurring Basis | Level 1 | U.S. Treasury
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	0	0
Fair Value, Measurements, Recurring Basis | Level 1 | Equity securities
Fair value measurements on a recurring basis by asset class and level of input
Total equity securities	0	1,634
Fair Value, Measurements, Recurring Basis | Level 1 | Equity securities | Financial services sector
Fair value measurements on a recurring basis by asset class and level of input
Total equity securities	0	1,624
Fair Value, Measurements, Recurring Basis | Level 1 | Equity securities | Utilities sector
Fair value measurements on a recurring basis by asset class and level of input
Total equity securities	0	0
Fair Value, Measurements, Recurring Basis | Level 1 | Equity securities | Energy sector
Fair value measurements on a recurring basis by asset class and level of input
Total equity securities	0	10
Fair Value, Measurements, Recurring Basis | Level 1 | Equity securities | Consumer sector
Fair value measurements on a recurring basis by asset class and level of input
Total equity securities	0	0
Fair Value, Measurements, Recurring Basis | Level 1 | Equity securities | Communications sector
Fair value measurements on a recurring basis by asset class and level of input
Total equity securities	0
Fair Value, Measurements, Recurring Basis | Level 2
Fair value measurements on a recurring basis by asset class and level of input
Total	925,504	1,000,313
Fair Value, Measurements, Recurring Basis | Level 2 | Available-for-sale securities
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	858,383	916,287
Fair Value, Measurements, Recurring Basis | Level 2 | Corporate debt securities
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	539,918	567,909
Fair Value, Measurements, Recurring Basis | Level 2 | Collateralized debt obligations
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	100,671	115,462
Fair Value, Measurements, Recurring Basis | Level 2 | Commercial mortgage-backed securities
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	57,850	73,596
Fair Value, Measurements, Recurring Basis | Level 2 | Residential mortgage-backed securities
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	124,884	131,108
Fair Value, Measurements, Recurring Basis | Level 2 | Other debt securities
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	22,855	23,920
Fair Value, Measurements, Recurring Basis | Level 2 | U.S. Treasury
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	12,205	4,292
Fair Value, Measurements, Recurring Basis | Level 2 | Equity securities
Fair value measurements on a recurring basis by asset class and level of input
Total equity securities	67,121	84,026
Fair Value, Measurements, Recurring Basis | Level 2 | Equity securities | Financial services sector
Fair value measurements on a recurring basis by asset class and level of input
Total equity securities	55,747	68,015
Fair Value, Measurements, Recurring Basis | Level 2 | Equity securities | Utilities sector
Fair value measurements on a recurring basis by asset class and level of input
Total equity securities	6,072	6,259
Fair Value, Measurements, Recurring Basis | Level 2 | Equity securities | Energy sector
Fair value measurements on a recurring basis by asset class and level of input
Total equity securities	3,513	6,438
Fair Value, Measurements, Recurring Basis | Level 2 | Equity securities | Consumer sector
Fair value measurements on a recurring basis by asset class and level of input
Total equity securities	1,418	3,314
Fair Value, Measurements, Recurring Basis | Level 2 | Equity securities | Communications sector
Fair value measurements on a recurring basis by asset class and level of input
Total equity securities	371
Fair Value, Measurements, Recurring Basis | Level 3
Fair value measurements on a recurring basis by asset class and level of input
Total	18,152	31,881
Fair Value, Measurements, Recurring Basis | Level 3 | Available-for-sale securities
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	16,304	29,798
Fair Value, Measurements, Recurring Basis | Level 3 | Corporate debt securities
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	7,275	5,256
Fair Value, Measurements, Recurring Basis | Level 3 | Collateralized debt obligations
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	0	0
Fair Value, Measurements, Recurring Basis | Level 3 | Commercial mortgage-backed securities
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	5,367	15,728
Fair Value, Measurements, Recurring Basis | Level 3 | Residential mortgage-backed securities
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	3,662	8,814
Fair Value, Measurements, Recurring Basis | Level 3 | Other debt securities
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	0	0
Fair Value, Measurements, Recurring Basis | Level 3 | U.S. Treasury
Fair value measurements on a recurring basis by asset class and level of input
Total available-for-sale securities	0	0
Fair Value, Measurements, Recurring Basis | Level 3 | Equity securities
Fair value measurements on a recurring basis by asset class and level of input
Total equity securities	1,848	2,083
Fair Value, Measurements, Recurring Basis | Level 3 | Equity securities | Financial services sector
Fair value measurements on a recurring basis by asset class and level of input
Total equity securities	1,848	2,083
Fair Value, Measurements, Recurring Basis | Level 3 | Equity securities | Utilities sector
Fair value measurements on a recurring basis by asset class and level of input
Total equity securities	0	0
Fair Value, Measurements, Recurring Basis | Level 3 | Equity securities | Energy sector
Fair value measurements on a recurring basis by asset class and level of input
Total equity securities	0	0
Fair Value, Measurements, Recurring Basis | Level 3 | Equity securities | Consumer sector
Fair value measurements on a recurring basis by asset class and level of input
Total equity securities	0	$ 0
Fair Value, Measurements, Recurring Basis | Level 3 | Equity securities | Communications sector
Fair value measurements on a recurring basis by asset class and level of input
Total equity securities	$ 0

Fair Value - Level 3 Assets (De

Fair Value - Level 3 Assets (Details) - Level 3 - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Roll forward of level 3 fair value measurements on a recurring basis
Beginning balance	$ 59,395	$ 30,546	$ 31,881	$ 26,224
Included in earnings	(880)	(75)	(1,772)	(253)
Included in other comprehensive income	(2,149)	(165)	(3,530)	(535)
Purchases	753	2,224	10,574	11,664
Sales	(7,781)	(5,248)	(16,911)	(7,405)
Transfers into Level 3	4,747	6,510	52,396	17,033
Transfers out of Level 3	(35,933)	(11,053)	(54,486)	(23,989)
Ending balance	18,152	22,739	18,152	22,739
Available-for-sale securities
Roll forward of level 3 fair value measurements on a recurring basis
Beginning balance	57,529	29,546	29,798	26,224
Included in earnings	(862)	(88)	(1,537)	(271)
Included in other comprehensive income	(2,149)	(165)	(3,530)	(535)
Purchases	753	2,224	10,574	10,664
Sales	(7,781)	(5,248)	(16,911)	(7,405)
Transfers into Level 3	4,747	5,417	52,396	14,850
Transfers out of Level 3	(35,933)	(11,053)	(54,486)	(22,894)
Ending balance	16,304	20,633	16,304	20,633
Corporate debt securities | Available-for-sale securities
Roll forward of level 3 fair value measurements on a recurring basis
Beginning balance	6,109	6,078	5,256	5,825
Included in earnings	(7)	7	(2)	27
Included in other comprehensive income	(28)	3	(417)	82
Purchases	753	1,995	5,687	4,253
Sales	(495)	(1,213)	(3,614)	(1,886)
Transfers into Level 3	2,899	1,129	8,673	3,678
Transfers out of Level 3	(1,956)	(1,802)	(8,308)	(5,782)
Ending balance	7,275	6,197	7,275	6,197
Collateralized debt obligations | Available-for-sale securities
Roll forward of level 3 fair value measurements on a recurring basis
Beginning balance		750		0
Included in earnings		0		0
Included in other comprehensive income		0		0
Purchases		0		750
Sales		0		0
Transfers into Level 3		0		0
Transfers out of Level 3		(750)		(750)
Ending balance		0		0
Commercial mortgage-backed securities | Available-for-sale securities
Roll forward of level 3 fair value measurements on a recurring basis
Beginning balance	8,871	17,133	15,728	19,462
Included in earnings	(188)	(90)	(892)	(287)
Included in other comprehensive income	(413)	(143)	(1,071)	(590)
Purchases	0	229	0	3,073
Sales	(660)	(2,912)	(3,825)	(3,878)
Transfers into Level 3	1,174	0	5,509	3,854
Transfers out of Level 3	(3,417)	(4,523)	(10,082)	(11,940)
Ending balance	5,367	9,694	5,367	9,694
Residential mortgage-backed securities | Available-for-sale securities
Roll forward of level 3 fair value measurements on a recurring basis
Beginning balance	42,549	3,041	8,814	937
Included in earnings	(667)	(5)	(643)	(11)
Included in other comprehensive income	(1,708)	(26)	(2,042)	(26)
Purchases	0	0	4,887	0
Sales	(6,626)	(366)	(9,472)	(842)
Transfers into Level 3	674	4,288	38,214	7,318
Transfers out of Level 3	(30,560)	(2,644)	(36,096)	(3,088)
Ending balance	3,662	4,288	3,662	4,288
Other debt securities | Available-for-sale securities
Roll forward of level 3 fair value measurements on a recurring basis
Beginning balance		2,544		0
Included in earnings		0		0
Included in other comprehensive income		1		(1)
Purchases		0		2,588
Sales		(757)		(799)
Transfers into Level 3		0		0
Transfers out of Level 3		(1,334)		(1,334)
Ending balance		454		454
Equity securities | Equity securities
Roll forward of level 3 fair value measurements on a recurring basis
Beginning balance	1,866	1,000	2,083	0
Included in earnings	(18)	13	(235)	18
Included in other comprehensive income	0	0	0	0
Purchases	0	0	0	1,000
Sales	0	0	0	0
Transfers into Level 3	0	1,093	0	2,183
Transfers out of Level 3	0	0	0	(1,095)
Ending balance	$ 1,848	$ 2,106	$ 1,848	$ 2,106

Fair Value - Financial Instrume

Fair Value - Financial Instruments Not Carried at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Carrying value
Carrying value and fair value measurements of financial instruments not carried at fair value
Agent loans	$ 69,425	$ 66,368
Long-term borrowings	0	94,070
Level 3 | Fair value
Carrying value and fair value measurements of financial instruments not carried at fair value
Agent loans	57,457	68,957
Long-term borrowings	$ 0	$ 103,981

Investments - Cost and Fair Val

Investments - Cost and Fair Value, Net of Credit Loss Allowance, of Available-For-Sale Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Available-for-sale securities
Amortized cost	$ 954,297
Estimated fair value	874,687
Corporate debt securities
Available-for-sale securities
Amortized cost	591,682	$ 565,997
Gross unrealized gains	186	9,663
Gross unrealized losses	44,675	2,495
Estimated fair value	547,193	573,165
Collateralized debt obligations
Available-for-sale securities
Amortized cost	105,938	115,344
Gross unrealized gains	6	456
Gross unrealized losses	5,273	338
Estimated fair value	100,671	115,462
Commercial mortgage-backed securities
Available-for-sale securities
Amortized cost	71,032	88,636
Gross unrealized gains	0	1,465
Gross unrealized losses	7,815	777
Estimated fair value	63,217	89,324
Residential mortgage-backed securities
Available-for-sale securities
Amortized cost	147,276	140,217
Gross unrealized gains	1	1,007
Gross unrealized losses	18,731	1,302
Estimated fair value	128,546	139,922
Other debt securities
Available-for-sale securities
Amortized cost	25,103	23,859
Gross unrealized gains	0	197
Gross unrealized losses	2,248	136
Estimated fair value	22,855	23,920
U.S. Treasury
Available-for-sale securities
Amortized cost	13,266	4,226
Gross unrealized gains	0	73
Gross unrealized losses	1,061	7
Estimated fair value	12,205	4,292
Available-for-sale securities
Available-for-sale securities
Amortized cost	954,297	938,279
Gross unrealized gains	193	12,861
Gross unrealized losses	79,803	5,055
Estimated fair value	$ 874,687	$ 946,085

Investments - Amortized Cost an

Investments - Amortized Cost and Estimated Fair Value, Net of Credit Loss Allowance, of Available-For-Sale Securities by Contractual Maturity (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Amortized cost
Due in one year or less	$ 25,891
Due after one year through five years	424,086
Due after five years through ten years	217,387
Due after ten years	286,933
Amortized cost	954,297
Estimated fair value
Due in one year or less	25,558
Due after one year through five years	396,166
Due after five years through ten years	200,110
Due after ten years	252,853
Estimated fair value	$ 874,687

Investments - Schedule of Avail

Investments - Schedule of Available-For-Sale Securities in a Gross Unrealized Loss Position by Length of Time (Details) $ in Thousands	Sep. 30, 2022 USD ($) holding	Dec. 31, 2021 USD ($) holding
Investment grade
Fair value
Less than 12 months	$ 649,184	$ 330,697
12 months or longer	106,235	17,112
Total	755,419	347,809
Unrealized losses
Less than 12 months	51,725	3,801
12 months or longer	14,782	434
Total	$ 66,507	$ 4,235
No. of holdings | holding	770	366
Non-investment grade
Fair value
Less than 12 months	$ 100,984	$ 45,279
12 months or longer	9,057	6,110
Total	110,041	51,389
Unrealized losses
Less than 12 months	11,557	405
12 months or longer	1,739	415
Total	$ 13,296	$ 820
No. of holdings | holding	747	363
Corporate debt securities
Fair value
Less than 12 months	$ 488,178	$ 179,281
12 months or longer	52,867	12,494
Total	541,045	191,775
Unrealized losses
Less than 12 months	37,243	1,912
12 months or longer	7,432	583
Total	$ 44,675	$ 2,495
No. of holdings | holding	1,030	441
Collateralized debt obligations
Fair value
Less than 12 months	$ 67,482	$ 64,270
12 months or longer	31,984	9,370
Total	99,466	73,640
Unrealized losses
Less than 12 months	3,368	278
12 months or longer	1,905	60
Total	$ 5,273	$ 338
No. of holdings | holding	159	104
Commercial mortgage-backed securities
Fair value
Less than 12 months	$ 56,265	$ 28,001
12 months or longer	6,174	917
Total	62,439	28,918
Unrealized losses
Less than 12 months	6,480	595
12 months or longer	1,335	182
Total	$ 7,815	$ 777
No. of holdings | holding	123	61
Residential mortgage-backed securities
Fair value
Less than 12 months	$ 104,610	$ 89,460
12 months or longer	23,145	441
Total	127,755	89,901
Unrealized losses
Less than 12 months	13,096	1,278
12 months or longer	5,635	24
Total	$ 18,731	$ 1,302
No. of holdings | holding	157	98
Other debt securities
Fair value
Less than 12 months	$ 21,428	$ 14,576
12 months or longer	1,122	0
Total	22,550	14,576
Unrealized losses
Less than 12 months	2,034	136
12 months or longer	214	0
Total	$ 2,248	$ 136
No. of holdings | holding	45	24
U.S. Treasury
Fair value
Less than 12 months	$ 12,205	$ 388
12 months or longer	0	0
Total	12,205	388
Unrealized losses
Less than 12 months	1,061	7
12 months or longer	0	0
Total	$ 1,061	$ 7
No. of holdings | holding	3	1
Available-for-sale securities
Fair value
Less than 12 months	$ 750,168	$ 375,976
12 months or longer	115,292	23,222
Total	865,460	399,198
Unrealized losses
Less than 12 months	63,282	4,206
12 months or longer	16,521	849
Total	$ 79,803	$ 5,055
No. of holdings | holding	1,517	729

Investments - Credit Loss Allow

Investments - Credit Loss Allowance on Investments (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Investments [Abstract]
Agent loans, allowance for credit loss	$ 1	$ 1
Available-for-sale securities, allowance for credit loss	$ 0.1	$ 0.1

Investments - Schedule of Inves

Investments - Schedule of Investment Income (Loss), Net of Expenses, from Portfolios (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Investment income (loss) from portfolios
Limited partnerships	$ (4,643)	$ 11,504	$ (2,158)	$ 26,701
Total investment income	6,133	19,182	25,604	50,596
Less: investment expenses	299	324	998	991
Net investment income	5,834	18,858	24,606	49,605
Available-for-sale securities
Investment income (loss) from portfolios
Available-for-sale, equity securities, cash equivalents, and other	8,546	5,786	21,919	17,773
Equity securities
Investment income (loss) from portfolios
Available-for-sale, equity securities, cash equivalents, and other	979	1,030	2,942	3,348
Cash equivalents and other
Investment income (loss) from portfolios
Available-for-sale, equity securities, cash equivalents, and other	$ 1,251	$ 862	$ 2,901	$ 2,774

Investments - Realized and Unre

Investments - Realized and Unrealized Investment Gains (Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Available-for-sale securities:
Gross realized gains	$ 146	$ 2,424	$ 1,055	$ 5,422
Gross realized losses	(4,752)	(235)	(10,163)	(1,353)
Net realized (losses) gains on available-for-sale securities	(4,606)	2,189	(9,108)	4,069
Equity securities:
Equity securities	(1,624)	(579)	(14,727)	1,113
Miscellaneous:
Miscellaneous	0	0	2	1
Net realized and unrealized investment (losses) gains	$ (6,230)	$ 1,610	$ (23,833)	$ 5,183

Investments - Portion of Net Un

Investments - Portion of Net Unrealized Gains and Losses Recognized During the Reporting Period Related To Equity Securities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Equity securities:
Net (losses) gains recognized during the period	$ (1,624)	$ (579)	$ (14,727)	$ 1,113
Less: net gains (losses) recognized on securities sold	243	(267)	(1,327)	5
Net unrealized (losses) gains recognized on securities held at reporting date	$ (1,867)	$ (312)	$ (13,400)	$ 1,108

Investments - Impairments on Av

Investments - Impairments on Available-For-Sale Securities and Agent Loans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Available-for-sale securities:
Intent to sell	$ (45)	$ (10)	$ (146)	$ (10)
Credit (impaired) recovered	(130)	(13)	(283)	73
Total available-for-sale securities	(175)	(23)	(429)	63
Agent loans - expected credit recoveries	0	153	0	153
Net impairment (losses) recoveries recognized in earnings	$ (175)	$ 130	$ (429)	$ 216

Borrowing Arrangements - Term L

Borrowing Arrangements - Term Loan Credit Facility (Details) - Secured debt - USD ($)			1 Months Ended
	May 18, 2022	Jan. 01, 2019	May 31, 2022	Dec. 31, 2016
Term loan credit facility
Amount of senior secured draw term loan credit facility				$ 100,000,000
Fixed interest rate of credit facility (as a percent)		4.35%
Repayment period of credit facility		28 years
Extinguishment of debt			$ 93,200,000
Interest Expense
Term loan credit facility
Amortization of debt issuance costs	$ 200,000

Borrowing Arrangements - Bank L

Borrowing Arrangements - Bank Line of Credit (Details) - Revolving line of credit - USD ($) $ in Millions	Sep. 30, 2022	Oct. 31, 2021
Bank line of credit
Maximum borrowing capacity under the bank revolving line of credit		$ 100
Maximum letter of credit sublimit under the bank revolving line of credit		$ 25
Available borrowing capacity under the bank revolving line of credit, due to outstanding letters of credit	$ 99.1
Outstanding amount of letters of credit under the bank revolving line of credit	0.9
Available amount of letters of credit under the bank revolving line of credit	24.1
Fair value of investments pledged as collateral on the bank revolving line of credit	$ 108.7

Postretirement Benefits (Detail

Postretirement Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Postretirement Benefits
Funding target (as a percentage of the funding target liability)	100%		100%
Defined benefit plan, plan assets, contributions by employer	$ 25,000
Cost of pension plans:
Service cost for benefits earned	12,560	$ 13,260	$ 37,681	$ 39,780
Interest cost on benefits obligation	9,941	9,206	29,823	27,618
Expected return on plan assets	(13,639)	(12,569)	(40,917)	(37,706)
Prior service cost amortization	361	357	1,082	1,071
Net actuarial loss amortization	1,830	4,027	5,490	12,080
Pension plan cost	$ 11,053	$ 14,281	$ 33,159	$ 42,843
Erie Insurance Exchange
Postretirement Benefits
Postretirement annual benefit expense reimbursed to Indemnity from the Exchange and its subsidiaries (as a percent)			57%

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	20.70%	20.90%	20.90%	20.80%

Capital Stock - Class A and B C

Capital Stock - Class A and B Common Stock (Details) - Class B common stock	9 Months Ended	12 Months Ended
	Sep. 30, 2022 shares	Dec. 31, 2021 shares
Common Stock
Ratio for converting shares of Class B common stock into shares of Class A common stock	2,400	2,400
Class B common stock shares converted into Class A common stock shares (in shares)	0	0

Capital Stock - Stock Repurchas

Capital Stock - Stock Repurchases (Details) - Class A common stock - Stock repurchase program - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2011
Stock repurchases
Amount of authorized stock repurchases approved for continuation under the current program			$ 150
Shares repurchased under stock repurchase program (in shares)	0	0
Approximate amount of repurchase authority remaining under the current stock repurchase program	$ 17.8

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Accumulated other comprehensive income (loss), net of tax
AOCI (loss), beginning of period			$ (25,288)				$ (25,288)
Change in unrealized holding losses on available-for-sale securities	$ (17,178)			$ (3,732)			(69,082)	$ (9,808)
Pension and other postretirement plans, OCI	1,731			3,463			5,198	10,389
Other comprehensive (loss) income	(15,447)	$ (23,248)	(25,189)	(269)	$ 6,139	$ (5,289)	(63,884)	581
AOCI (loss), end of period	(89,172)						(89,172)
Investment securities:
Accumulated other comprehensive income (loss), before tax
AOCI (loss), beginning of period	(57,980)		7,722	21,693		29,384	7,722	29,384
OCI (loss) before reclassifications	(26,524)			(2,557)			(96,982)	(8,282)
Realized investment losses (gains)	4,606			(2,189)			9,108	(4,069)
Impairment losses	175			23			429	(63)
Investment securities, OCI (loss)	(21,743)			(4,723)			(87,445)	(12,414)
AOCI (loss), end of period	(79,723)	(57,980)		16,970	21,693		(79,723)	16,970
Accumulated other comprehensive income (loss), tax
AOCI (loss), beginning of period	(12,177)		1,621	4,556		6,171	1,621	6,171
OCI (loss) before reclassifications	(5,570)			(537)			(20,366)	(1,739)
Realized investment losses (gains)	968			(459)			1,913	(854)
Impairment losses	37			5			90	(13)
Investment securities, OCI (loss)	(4,565)			(991)			(18,363)	(2,606)
AOCI (loss), end of period	(16,742)	(12,177)		3,565	4,556		(16,742)	3,565
Accumulated other comprehensive income (loss), net of tax
AOCI (loss), beginning of period	(45,803)		6,101	17,137		23,213	6,101	23,213
OCI (loss) before reclassifications	(20,954)			(2,020)			(76,616)	(6,543)
Realized investment losses (gains)	3,638			(1,730)			7,195	(3,215)
Impairment losses	138			18			339	(50)
Change in unrealized holding losses on available-for-sale securities	(17,178)			(3,732)			(69,082)	(9,808)
AOCI (loss), end of period	(62,981)	(45,803)		13,405	17,137		(62,981)	13,405
Pension and other postretirement plans:
Accumulated other comprehensive income (loss), before tax
AOCI (loss), beginning of period	(35,346)		(39,734)	(119,533)		(128,300)	(39,734)	(128,300)
Amortization of prior service costs	361			357			1,082	1,071
Amortization of net actuarial loss	1,830			4,027			5,497	12,080
Pension and other postretirement plans, OCI	2,191			4,384			6,579	13,151
AOCI (loss), end of period	(33,155)	(35,346)		(115,149)	(119,533)		(33,155)	(115,149)
Accumulated other comprehensive income (loss), tax
AOCI (loss), beginning of period	(7,424)		(8,345)	(25,103)		(26,944)	(8,345)	(26,944)
Amortization of prior service costs	76			75			227	225
Amortization of net actuarial loss	384			846			1,154	2,537
Pension and other postretirement plans, OCI	460			921			1,381	2,762
AOCI (loss), end of period	(6,964)	(7,424)		(24,182)	(25,103)		(6,964)	(24,182)
Accumulated other comprehensive income (loss), net of tax
AOCI (loss), beginning of period	(27,922)		(31,389)	(94,430)		(101,356)	(31,389)	(101,356)
Amortization of prior service costs	285			282			855	846
Amortization of net actuarial loss	1,446			3,181			4,343	9,543
Pension and other postretirement plans, OCI	1,731			3,463			5,198	10,389
AOCI (loss), end of period	(26,191)	(27,922)		(90,967)	(94,430)		(26,191)	(90,967)
Total
Accumulated other comprehensive income (loss), before tax
AOCI (loss), beginning of period	(93,326)		(32,012)	(97,840)		(98,916)	(32,012)	(98,916)
Investment securities, OCI (loss)	(21,743)			(4,723)			(87,445)	(12,414)
Pension and other postretirement plans, OCI	2,191			4,384			6,579	13,151
OCI (loss)	(19,552)			(339)			(80,866)	737
AOCI (loss), end of period	(112,878)	(93,326)		(98,179)	(97,840)		(112,878)	(98,179)
Accumulated other comprehensive income (loss), tax
AOCI (loss), beginning of period	(19,601)		(6,724)	(20,547)		(20,773)	(6,724)	(20,773)
Investment securities, OCI (loss)	(4,565)			(991)			(18,363)	(2,606)
Pension and other postretirement plans, OCI	460			921			1,381	2,762
OCI (loss)	(4,105)			(70)			(16,982)	156
AOCI (loss), end of period	(23,706)	(19,601)		(20,617)	(20,547)		(23,706)	(20,617)
Accumulated other comprehensive income (loss), net of tax
AOCI (loss), beginning of period	(73,725)		(25,288)	(77,293)		(78,143)	(25,288)	(78,143)
Change in unrealized holding losses on available-for-sale securities	(17,178)			(3,732)			(69,082)	(9,808)
Pension and other postretirement plans, OCI	1,731			3,463			5,198	10,389
Other comprehensive (loss) income	(15,447)	(23,248)	$ (25,189)	(269)	6,139	$ (5,289)	(63,884)	581
AOCI (loss), end of period	$ (89,172)	$ (73,725)		$ (77,562)	$ (77,293)		$ (89,172)	$ (77,562)

Concentrations of Credit Risk (

Concentrations of Credit Risk (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Risks and Uncertainties [Abstract]
Receivables from Erie Insurance Exchange and affiliates, net	$ 544,353	$ 479,123
Current expected credit loss allowance	$ 500	$ 500

Commitments and Contingencies (

Commitments and Contingencies (Details) - Loan Purchase Commitments - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2020
Other Commitments [Line Items]
Minimum funding percentage of each loan	30%
Participation amount in loan program	$ 16.3
Loan program, guaranteed amount	5.8
Third-Party Bank
Other Commitments [Line Items]
Amount of loan participation program	$ 47.3
Third-Party Bank | Maximum
Other Commitments [Line Items]
Amount of loan participation program		$ 100