United Fire (UFCS) 10-Q9 May 232023 Q1 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2023	May 02, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-34257
Entity Registrant Name	UNITED FIRE GROUP, INC
Entity Incorporation, State or Country Code	IA
Entity Tax Identification Number	45-2302834
Entity Address, Address Line One	118 Second Avenue SE
Entity Address, City or Town	Cedar Rapids
Entity Address, State or Province	IA
Entity Address, Postal Zip Code	52401
City Area Code	319
Local Phone Number	399-5700
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	UFCS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	No
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 Common Stock, Shares Outstanding		25,237,340
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000101199
Current Fiscal Year End Date	--12-31

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fixed maturities
Available-for-sale, at fair value (amortized cost $1,684,249 in 2023 and $1,662,680 in 2022)	$ 1,591,169	$ 1,551,336
Equity securities at fair value (cost $70,565 in 2023 and $75,292 in 2022)	159,378	169,106
Mortgage loans	37,912	37,947
Less: allowance for mortgage loan losses	49	49
Mortgage loans, net	37,863	37,898
Other long-term investments	91,003	86,276
Short-term investments	275	275
Total investments	1,879,688	1,844,891
Cash and cash equivalents	53,230	96,650
Accrued investment income	15,396	14,480
Premiums receivable (net of allowance for doubtful accounts of $1,701 in 2023 and $1,575 in 2022)	398,390	365,729
Deferred policy acquisition costs	107,489	104,225
Property and equipment (primarily land and buildings, at cost, less accumulated depreciation of $62,027 in 2023 and $59,566 in 2022)	133,259	133,113
Reinsurance receivables and recoverables (net of allowance for credit losses of $94 in 2023 and $82 in 2022)	162,425	170,953
Prepaid reinsurance premiums	10,569	11,300
Intangible assets	5,147	5,324
Deferred tax asset	13,980	15,531
Income taxes receivable	29,944	31,418
Other assets	88,886	88,672
TOTAL ASSETS	2,898,403	2,882,286
Liabilities
Losses and loss settlement expenses	1,499,391	1,497,274
Unearned premiums	490,798	474,388
Accrued expenses and other liabilities	106,419	120,510
Long term debt	50,000	50,000
TOTAL LIABILITIES	2,146,608	2,142,172
Stockholders’ Equity
Common stock, $0.001 par value; authorized 75,000,000 shares; 25,231,553 and 25,210,541 shares issued and outstanding in 2023 and 2022, respectively	25	25
Additional paid-in capital	208,010	207,030
Retained earnings	617,213	620,555
Accumulated other comprehensive income, net of tax	(73,453)	(87,496)
TOTAL STOCKHOLDERS’ EQUITY	751,795	740,114
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 2,898,403	$ 2,882,286

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Available-for-sale, amortized cost	$ 1,684,249	$ 1,662,680
Equity securities, cost	70,565	75,292
Allowance for doubtful accounts	1,701	1,575
Property and equipment accumulated depreciation	62,027	59,566
Reinsurance receivables and recoverables, allowance for credit losses	$ 94	$ 82
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	75,000,000	75,000,000
Common stock, shares issued (in shares)	25,231,553	25,210,541
Common stock, shares outstanding (in shares)	25,231,553	25,210,541

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues
Net premiums earned	$ 256,127	$ 234,228
Investment income, net of investment expenses	12,722	11,276
Net investment gains (losses) (includes reclassifications for net unrealized investment gains (losses) on available-for-sale securities of $(540) in 2023 and $318 in 2022; previously included in accumulated other comprehensive income (loss))	(1,745)	(465)
Other income (loss)	0	(25)
Total revenues	267,104	245,014
Benefits, Losses and Expenses
Losses and loss settlement expenses	174,597	130,376
Amortization of deferred policy acquisition costs	59,835	50,471
Other underwriting expenses (includes reclassifications for employee benefit costs of $52 in 2023 and $900 in 2022; previously included in accumulated other comprehensive income (loss))	31,876	28,644
Interest expense	797	797
Total benefits, losses and expenses	267,105	210,288
Income (loss) before income taxes	(1)	34,726
Federal income tax expense (benefit) (includes reclassifications of $124 in 2023 and $122 in 2022; previously included in accumulated other comprehensive income (loss))	(695)	6,377
Net Income (loss)	694	28,349
Other comprehensive income (loss)
Change in net unrealized appreciation on investments	18,004	(82,965)
Change in liability for underfunded employee benefit plans	(820)	(4,591)
Other comprehensive income (loss), before tax and reclassification adjustments	17,184	(87,556)
Income tax effect	(3,609)	18,387
Other comprehensive income (loss), after tax, before reclassification adjustments	13,575	(69,169)
Reclassification adjustment for net investment losses included in income	540	(318)
Reclassification adjustment for employee benefit costs included in expense	52	900
Total reclassification adjustments, before tax	592	582
Income tax effect	124	122
Total reclassification adjustments, after tax	468	460
Comprehensive income (loss)	$ 14,737	$ (40,360)
Diluted weighted average common shares outstanding (in shares)	25,500,115	25,323,105
Earnings per common share:
Basic (in dollars per share)	$ 0.03	$ 1.13
Diluted (in dollars per share)	$ 0.03	$ 1.12

Consolidated Statements of In_2

Consolidated Statements of Income and Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Reclassification adjustment for net realized gains (losses) included in income	$ (540)	$ 318
Reclassification adjustment for employee benefit costs included in expense	(52)	(900)
Reclassifications for federal income tax expense (benefit)	$ (124)	$ (122)

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands		Total	Common Stock	Additional paid-in capital	Retaining Earnings	Accumulated other comprehensive income
Balance, beginning (in shares) at Dec. 31, 2021			25,082,104
Beginning balance at Dec. 31, 2021		$ 879,121	$ 25	$ 203,375	$ 621,384	$ 54,337
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		28,349			28,349
Stock based compensation (in shares)			37,140
Stock based compensation		631		631
Dividends on common stock		(3,767)			(3,767)
Change in net unrealized investment appreciation (depreciation)	[1]	(65,793)				(65,793)
Change in liability for underfunded employee benefit plans	[2]	(2,916)				(2,916)
Balance, ending (in shares) at Mar. 31, 2022			25,119,244
Ending balance at Mar. 31, 2022		$ 835,625	$ 25	204,006	645,966	(14,372)
Balance, beginning (in shares) at Dec. 31, 2022		25,210,541	25,210,541
Beginning balance at Dec. 31, 2022		$ 740,114	$ 25	207,030	620,555	(87,496)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		694			694
Stock based compensation (in shares)			21,012
Stock based compensation		980		980
Dividends on common stock		(4,037)			(4,037)
Change in net unrealized investment appreciation (depreciation)	[3]	14,650				14,650
Change in liability for underfunded employee benefit plans	[4]	$ (607)				(607)
Balance, ending (in shares) at Mar. 31, 2023		25,231,553	25,231,553
Ending balance at Mar. 31, 2023		$ 751,795	$ 25	$ 208,010	$ 617,213	$ (73,453)

[1]The change in net unrealized appreciation (depreciation) is net of reclassification adjustments and income taxes.[2]The change in liability for underfunded employee benefit plans is net of reclassification adjustments and income taxes.[3]The change in net unrealized appreciation (depreciation) is net of reclassification adjustments and income taxes.[4]The change in liability for underfunded employee benefit plans is net of reclassification adjustments and income taxes.

Consolidated Statement of Sto_2

Consolidated Statement of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends on common stock (in dollars per share)	$ 0.16	$ 0.15

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
Consolidated Statements of Cash Flows (Unaudited) - USD ($)	Mar. 31, 2023	Mar. 31, 2022
Cash Flows From Operating Activities
Net income	$ 694,000	$ 28,349,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities
Net accretion of bond premium	1,797,000	2,906,000
Depreciation and amortization	2,646,000	1,668,000
Stock-based compensation expense	1,076,000	979,000
Net investment (gains) losses	1,559,000	465,000
Net cash flows from equity and trading investments	8,523,000	18,387,000
Deferred income tax expense (benefit)	(2,182,000)	(1,234,000)
Changes in:
Accrued investment income	(916,000)	(539,000)
Premiums receivable	(32,661,000)	(18,119,000)
Deferred policy acquisition costs	(3,264,000)	(4,316,000)
Reinsurance receivables	8,528,000	(7,173,000)
Prepaid reinsurance premiums	731,000	464,000
Income taxes receivable	1,474,000	17,704,000
Other assets	(109,000)	(14,768,000)
Losses and loss settlement expenses	2,117,000	(26,274,000)
Unearned premiums	16,410,000	6,318,000
Accrued expenses and other liabilities	(14,859,000)	(3,469,000)
Other, net	1,650,000	247,000
Cash from operating activities	(7,480,000)	(26,754,000)
Net cash provided by (used in) operating activities	(6,786,000)	1,595,000
Cash Flows From Investing Activities
Proceeds from sale of available-for-sale investments	9,868,000	0
Proceeds from call and maturity of available-for-sale investments	20,424,000	65,407,000
Proceeds from sale of other investments	972,000	1,581,000
Purchase of investments in mortgage loans	(128,000)	0
Purchase of investments available-for-sale	(53,832,000)	(82,942,000)
Purchase of other investments	(7,190,000)	(1,597,000)
Net purchases and sales of property and equipment	(2,615,000)	(2,510,000)
Net cash provided by (used in) investing activities	(32,501,000)	(20,061,000)
Cash Flows From Financing Activities
Issuance of common stock	(96,000)	(349,000)
Payment of cash dividends	(4,037,000)	(3,767,000)
Net cash provided by (used in) financing activities	(4,133,000)	(4,116,000)
Net Change in Cash and Cash Equivalents	(43,420,000)	(22,582,000)
Cash and Cash Equivalents at Beginning of Period	96,650,000	132,104,000
Cash and Cash Equivalents at End of Period	53,230,000	109,522,000
Supplemental Disclosures of Cash Flow Information
Income taxes paid	12,000	0
Interest paid	$ 797,000	$ 797,000

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	3 Months Ended
Nature of Operations and Basis of Presentation	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Basis of Presentation	NATURE OF OPERATIONS AND BASIS OF PRESENTATION Nature of Business United Fire Group, Inc. ("UFG," the "Registrant," the "Company," "we," "us," or "our") and its consolidated subsidiaries and affiliates are engaged in the business of writing property and casualty insurance through a network of independent agencies. Our insurance company subsidiaries are licensed as property and casualty insurers in 50 states and the District of Columbia. Basis of Presentation The unaudited consolidated interim financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial reporting and with the instructions to Form 10-Q and Regulation S-X promulgated by the SEC. Certain financial information that is included in our Annual Report on Form 10-K/A for the year ended December 31, 2022, including certain financial statement footnote disclosures, is not required by the rules and regulations of the SEC for interim financial reporting and has been condensed or omitted. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities 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. The financial statement categories that are most dependent on management estimates and assumptions include: investments; deferred policy acquisition costs; reinsurance receivables and recoverables; loss settlement expenses; and pension and postretirement benefit obligations. Management believes the accompanying unaudited Consolidated Financial Statements contain all adjustments (consisting of normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows for the periods presented. All significant intercompany transactions have been eliminated in consolidation. The results reported for the interim periods are not necessarily indicative of the results of operations that may be expected for the year. The unaudited Consolidated Financial Statements should be read in conjunction with our Annual Report on Form 10-K/A for the year ended December 31, 2022. Segment Information Our property and casualty insurance business is reported as one business segment. The property and casualty insurance business profit or loss is consistent with consolidated reporting as disclosed on the Consolidated Statements of Income and Comprehensive Income. We analyze the property and casualty insurance business results based on profitability (i.e., loss ratios), expenses and return on equity. The Company's property and casualty insurance business was determined using a management approach to make decisions on operating matters, including allocating resources, assessing performance, determining which products to market and sell, determining distribution networks with insurance agents and monitoring the regulatory environment. The property and casualty insurance business products have similar economic characteristics and use a similar marketing and distribution strategy with our independent agents. We will continue to evaluate our operations on the basis of both statutory accounting principles prescribed or permitted by our states of domicile and GAAP. Lloyd's Syndicates On January 1, 2021, the Company became a member of Lloyd's of London ("Lloyd's") through McIntyre Cedar Corporate Member LLP. As a member of Lloyd's, the Company is required to maintain capital at Lloyd's, referred to as Funds at Lloyd's ("FAL"), to support underwriting of property and casualty and reinsurance business by Syndicate 1492, Syndicate 1729, Syndicate 1969, Syndicate 1971, Syndicate 4747, Syndicate 2988, Syndicate 1699 and Syndicate 5623. At March 31, 2023, the Company's FAL investments were comprised of cash of $23,661 on deposit with Lloyd's in order to satisfy these FAL requirements. Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents include cash, money market accounts, cash on deposit and held at Lloyd's and non-negotiable certificates of deposit with original maturities of three months or less. Deferred Policy Acquisition Costs ("DAC") Certain costs associated with underwriting new business (primarily commissions, premium taxes and variable underwriting and policy issue expenses associated with successful acquisition efforts) are deferred. The following table is a summary of the components of DAC, including the related amortization recognized for the three-month period ended March 31, 2023. Total Recorded asset at beginning of period $ 104,225 Underwriting costs deferred 63,099 Amortization of deferred policy acquisition costs (59,835) Recorded asset at March 31, 2023 $ 107,489 Property and casualty insurance policy acquisition costs deferred are amortized as premium revenue is recognized. The method followed in computing DAC limits the amount of such deferred costs to their estimated realizable value. This takes into account the premium to be earned, losses and loss settlement expenses expected to be incurred and certain other costs expected to be incurred as the premium is earned. Other Intangible Assets Our other intangible assets, which consist primarily of agency relationships, trade names, state insurance licenses, and software, are being amortized using the straight-line method over periods ranging from two years to 15 years, with the exception of state insurance licenses, which are indefinite-lived and not amortized. Long Term Debt The Company executed a private placement debt transaction on December 15, 2020 between United Fire & Casualty Company ("UF&C"), and Federated Mutual Insurance Company, a mutual insurance company domiciled in Minnesota ("Federated Mutual"), and Federated Life Insurance Company, an insurance company domiciled in Minnesota ("Federated Life” and, together with Federated Mutual, the "Note Purchasers"). UF&C sold an aggregate principal amount of $50,000 of notes due 2040 to the Note Purchasers. One note with a principal amount of $35,000 was issued to Federated Mutual and one note with a principal amount of $15,000 was issued to Federated Life subject to the terms of their respective notes. The notes are presented as a long term debt liability in the Consolidated Balance Sheets and as a financing activity in the Consolidated Statement of Cash Flows. Interest payments under the long term debt are paid quarterly on March 15, June 15, September 15 and December 15 of each year (each such date, an "Interest Payment Date"). The interest rate will equal the rate that corresponds to the A.M. Best Co. (or its successor’s) financial strength rating for members of the United Fire & Casualty Pooled Group as of the applicable Interest Payment Date. For the three-month period ended March 31, 2023, interest totaled $797 and is included in accrued expenses and other liabilities in the Consolidated Balance Sheets and as interest expense in the Consolidated Statements of Income and Comprehensive Income. Payment of interest is subject to approval by the Iowa Insurance Division. Income Taxes Deferred tax assets and liabilities are established based on differences between the financial statement bases of assets and liabilities and the tax bases of those same assets and liabilities, using the currently enacted statutory tax rates. Deferred income tax expense is measured by the year-to-year change in the net deferred tax asset or liability, except for certain changes in deferred tax amounts that affect stockholders' equity and do not impact federal income tax expense. We reported a consolidated federal income tax benefit of $695 for the three-month period ended March 31, 2023 compared to an income tax expense of $6,377 during the same period of 2022. Our effective tax rate for 2023 and 2022 is different than the federal statutory rate of 21 percent, due principally to the net effect of tax-exempt municipal bond interest income. The Company performs a quarterly review of its tax positions and makes a determination of whether it is more likely than not that the tax position will be sustained upon examination. If, based on this review, it appears not more likely than not that the positions will be sustained, the Company will calculate any unrecognized tax benefits and, if necessary, calculate and accrue any related interest and penalties. We did not recognize any liability for unrecognized tax benefits at March 31, 2023 or December 31, 2022. In addition, we have not accrued for interest and penalties related to unrecognized tax benefits. However, if interest and penalties would need to be accrued related to unrecognized tax benefits, such amounts would be recognized as a component of federal income tax expense. Deferred tax assets are reduced by a valuation allowance when management believes it is more likely than not that some, or all, of the deferred taxes will not be realized. After considering all positive and negative evidence of taxable income in the carryback and carryforward periods and our tax planning strategy of holding debt securities with unrealized losses to maturity or recovery, we believe it is more likely than not that all the deferred assets will be realized. As a result, we have no valuation allowance at March 31, 2023 or December 31, 2022. For the three-month period ended March 31, 2023, we made payments for income taxes totaling $12. For the three-month period ended March 31, 2022, we did not make payments for income taxes. For the three-month period ended March 31, 2023, we received no federal tax refund. For the three-month period ended March 31, 2022, we received a federal tax refund of $10,000. We file a consolidated federal income tax return. We also file income tax returns in various state jurisdictions. We are no longer subject to federal or state income tax examination for years before 2018. Leases The Company determines if a contract contains a lease at inception of the contract. The Company's inventory of leases consists of operating leases which are recorded as a lease obligation liability disclosed in the "Accrued expenses and other liabilities" line on the Consolidated Balance Sheets and as a lease right-of-use asset disclosed in the "Other assets" line on the Consolidated Balance Sheets. The Company's operating leases consist of office space, vehicles, computer equipment and office equipment. The lease right-of-use asset represents the Company's right to use each underlying asset for the lease term and the lease obligation liability represents the Company's obligation over the lease term. The Company's lease obligation is recorded at the present value of the lease payments based on the term of the applied lease. Short-term leases of 12 months or less are recorded on the Consolidated Balance Sheets and lease payments are recognized on the Consolidated Statements of Income and Comprehensive Income. For more information on leases refer to Note 10 "Leases." Variable Interest Entities The Company and certain related parties are equity investors in one investment which the Company determined is a variable interest entity ("VIE") as a result of participation in the risks and rewards of the VIE based on the objectives and strategies of the VIE. The VIE is a limited liability company that primarily invests in commercial real estate. The Company and certain related parties are not the primary beneficiary largely due to their inability to influence management or direct the activities that most significantly impact the VIE's economic performance. Based on these facts and circumstances, the Company has a variable interest in the VIE, but has not consolidated the VIE's financial results as it is not the primary beneficiary. The Company's investment is reported in other long-term investments in the Consolidated Balance Sheets and accounted for under the equity method of accounting. The fair value of the VIE at March 31, 2023 was $2,998 and there are no future funding commitments. Credit Losses The Company recognizes credit losses for our available-for-sale fixed-maturity portfolio, reinsurance receivables, mortgage loans and premium receivables by setting up allowances which are remeasured each reporting period and recorded in the Consolidated Statements of Income and Comprehensive Income. For our available-for-sale fixed-maturity portfolio an allowance for credit losses is recorded net of available-for-sale fixed maturities in the Consolidated Balance Sheets and a corresponding credit loss recognized as a realized loss or gain in the Consolidated Statements of Income and Comprehensive Income. The Company determines if an allowance for credit losses is recorded based on a number of factors including the current economic conditions, management's expectations of future economic conditions and performance indicators, such as market value versus amortized cost, investment spreads widening or contracting, rating actions, payment and default history. For more information on credit losses and the allowance for credit losses for our available-for-sale fixed-maturity portfolio, see Note 2 "Summary of Investments." An allowance for mortgage loan losses is established based on historical loss information of the collective pool of the Company's commercial mortgage loan investments which have similar risk characteristics. To calculate the allowance for mortgage loan losses, the Company starts with historical loan experience to predict the future expected losses and then layers on a market-linked adjustment. On a quarterly basis, quantitative credit risk metrics, including for example, cash-flows, rent rolls and financial statements are reviewed for each loan to determine if it is performing in line with its expectations. This allowance is presented as a separate line in the Consolidated Balance Sheets beneath the asset value as well as presented net and recorded through "Net investment gains (losses)" in the Consolidated Statements of Income and Comprehensive Income. For more information on credit losses and the allowance for credit losses for our investment in mortgage loans see Note 3 "Fair Value of Financial Instruments." For reinsurance receivables, the Company's model estimates expected credit loss by multiplying the exposure at default by both the probability of default and loss given default ("LGD"). The LGD is estimated by the rating of the reinsurer, historical relationship with UFG, existence of letters of credit and known regulation the Company may be held accountable for. The ultimate LGD percentage is estimated after considering Moody’s experience with unsecured year 1 bond recovery rates from 1983-2017. The allowance calculated as of March 31, 2023 is recorded through the line "Reinsurance receivables and recoverables" in the Consolidated Balance Sheets and through the line "Other underwriting expenses" in the Consolidated Statements of Income and Other Comprehensive Income. As of March 31, 2023, the Company had a credit loss allowance for reinsurance receivables of $94. Rollforward of credit loss allowance for reinsurance receivables: As of March 31, 2023 Beginning balance, January 1, 2023 $ 82 Recoveries of amounts previously written off, if any 12 Ending balance of the allowance for reinsurance receivables, March 31, 2023 $ 94 With respect to premiums receivable, the Company utilizes an aging method to estimate credit losses. An allowance for doubtful accounts is based on a periodic evaluation of the aging and collectability of amounts due from agents and policyholders. "Premiums receivable" are presented in the Consolidated Balance Sheets net of an estimated allowance for doubtful accounts and recorded through "Other underwriting expenses" in the Consolidated Statements of Income and Comprehensive Income. Subsequent Events In the preparation of the accompanying financial statements, the Company has evaluated all material subsequent events or transactions that occurred after the balance sheet date through the date on which the financial statements were issued for potential recognition or disclosure in the Company's financial statements. Recently Issued Accounting Standards Accounting Standards Adopted in 2022 Inflation Reduction Act

Summary of Investments

Summary of Investments	3 Months Ended
Summary of Investments	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Summary of Investments	SUMMARY OF INVESTMENTS Fair Value of Investments A reconciliation of the amortized cost to fair value of investments in available-for-sale fixed maturity, presented on a consolidated basis, as of March 31, 2023 and December 31, 2022, is provided below: March 31, 2023 Type of Investment Cost or Amortized Cost Gross Unrealized Appreciation Gross Unrealized Depreciation Fair Value Allowance for Credit Losses Carrying Value AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury $ 15,635 $ 10 $ 829 $ 14,816 $ — $ 14,816 U.S. government agency 91,069 17 8,938 82,148 — 82,148 States, municipalities and political subdivisions General obligations: Midwest 58,832 213 157 58,888 — 58,888 Northeast 11,475 25 24 11,476 — 11,476 South 63,842 130 501 63,471 — 63,471 West 86,916 183 389 86,710 — 86,710 Special revenue: Midwest 102,938 472 400 103,010 — 103,010 Northeast 55,161 166 713 54,614 — 54,614 South 180,683 561 2,279 178,965 — 178,965 West 113,332 401 831 112,902 — 112,902 Foreign bonds 38,119 — 3,818 34,301 — 34,301 Public utilities 146,966 260 11,515 135,711 — 135,711 Corporate bonds Energy 36,614 — 2,188 34,426 — 34,426 Industrials 63,760 267 4,628 59,399 — 59,399 Consumer goods and services 100,455 54 8,757 91,752 — 91,752 Health care 34,960 124 4,587 30,497 — 30,497 Technology, media and telecommunications 69,144 21 5,869 63,296 — 63,296 Financial services 135,098 637 9,356 126,379 179 126,200 Mortgage-backed securities 25,959 — 2,425 23,534 — 23,534 Collateralized mortgage obligations Government national mortgage association 102,127 12 12,636 89,503 — 89,503 Federal home loan mortgage corporation 93,395 43 11,984 81,454 — 81,454 Federal national mortgage association 53,846 152 4,227 49,771 — 49,771 Asset-backed securities 3,923 512 110 4,325 — 4,325 Total Available-for-Sale Fixed Maturities $ 1,684,249 $ 4,260 $ 97,161 $ 1,591,348 $ 179 $ 1,591,169 December 31, 2022 Type of Investment Cost or Amortized Cost Gross Unrealized Appreciation Gross Unrealized Depreciation Fair Value Allowance for Credit Losses Carrying Value AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury $ 15,684 $ — $ 1,009 $ 14,675 $ — $ 14,675 U.S. government agency 94,092 35 9,721 84,406 — 84,406 States, municipalities and political subdivisions General obligations: Midwest 61,191 185 263 61,113 — 61,113 Northeast 15,518 18 73 15,463 — 15,463 South 64,851 57 927 63,981 — 63,981 West 87,094 163 712 86,545 — 86,545 Special revenue: Midwest 103,107 224 1,065 102,266 — 102,266 Northeast 55,292 76 1,148 54,220 — 54,220 South 184,108 278 3,529 180,857 — 180,857 West 113,594 275 1,657 112,212 — 112,212 Foreign bonds 36,129 — 4,480 31,649 — 31,649 Public utilities 138,752 65 13,406 125,411 — 125,411 Corporate bonds Energy 36,507 — 3,298 33,209 — 33,209 Industrials 58,334 62 5,554 52,842 — 52,842 Consumer goods and services 100,539 — 10,598 89,941 — 89,941 Health care 32,987 24 5,419 27,592 — 27,592 Technology, media and telecommunications 67,193 — 7,253 59,940 — 59,940 Financial services 132,849 851 9,408 124,292 3 124,289 Mortgage-backed securities 20,450 — 2,750 17,700 — 17,700 Collateralized mortgage obligations Government national mortgage association 97,839 — 13,291 84,548 — 84,548 Federal home loan mortgage corporation 92,366 — 13,528 78,838 — 78,838 Federal national mortgage association 50,272 5 4,891 45,386 — 45,386 Asset-backed securities 3,932 466 145 4,253 — 4,253 Total Available-for-Sale Fixed Maturities $ 1,662,680 $ 2,784 $ 114,125 $ 1,551,339 $ 3 $ 1,551,336 Maturities The amortized cost and fair value of available-for-sale fixed maturity securities at March 31, 2023, by contractual maturity, are shown in the following tables. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Asset-backed securities, mortgage-backed securities and collateralized mortgage obligations may be subject to prepayment risk and are therefore not categorized by contractual maturity. Maturities Available-For-Sale March 31, 2023 Amortized Cost Fair Value Due in one year or less $ 41,386 $ 41,220 Due after one year through five years 479,517 467,682 Due after five years through 10 years 545,965 516,102 Due after 10 years 338,131 317,757 Asset-backed securities 3,923 4,325 Mortgage-backed securities 25,959 23,534 Collateralized mortgage obligations 249,368 220,728 $ 1,684,249 $ 1,591,348 Net Investment Gains and Losses Net gains (losses) on disposition of investments are computed using the specific identification method and are included in the computation of net income. A summary of the components of net investment gains (losses) is as follows: Three Months Ended March 31, 2023 2022 Net investment gains (losses): Fixed maturities: Available-for-sale $ (178) $ 333 Allowance for credit losses (176) — Equity securities Change in the fair value (1,705) (989) Sales 500 206 Mortgage loans allowance for credit losses — 5 Other long-term investments (186) (20) Total net investment gains (losses) $ (1,745) $ (465) The proceeds and gross realized gains (losses) on the sale of available-for-sale fixed maturity securities are as follows: Three Months Ended March 31, 2023 2022 Proceeds from sales $ 9,868 $ — Gross realized gains 11 333 Gross realized losses 189 — Funding Commitment Pursuant to an agreement with one of our limited liability partnership investments, we are contractually committed through July 10, 2030 to make capital contributions upon request of the partnership. Our remaining potential contractual obligation was $39,958 at March 31, 2023. In addition, the Company invested $25,000 in December 2019 in a limited liability partnership investment fund which is subject to a three-year lockup with a 60-day minimum notice, with four possible repurchase dates per year, after the three-year lockup period has concluded. The fair value of the investment at March 31, 2023 was $24,667 and there are no remaining capital contributions with this investment. Unrealized Appreciation and Depreciation A summary of the changes in net unrealized investment appreciation during the reporting period is as follows: Three Months Ended March 31, 2023 2022 Change in net unrealized investment appreciation (depreciation) Available-for-sale fixed maturities $ 18,544 $ (83,283) Income tax effect (3,894) 17,490 Total change in net unrealized investment appreciation (depreciation), net of tax $ 14,650 $ (65,793) Credit Risk An allowance for credit losses is recorded based on a number of factors including the current economic conditions, management's expectations of future economic conditions and performance indicators, such as market value versus amortized cost, investment spreads widening or contracting, rating actions, payment and default history. The following table contains a rollforward of the allowance for credit losses for available-for-sale fixed maturity securities at March 31, 2023. Rollforward of allowance for credit losses for available-for-sale fixed maturity securities: As of March 31, 2023 Beginning balance, January 1, 2023 $ 3 Additions to the allowance for credit losses for which credit losses were not previously recorded 176 Ending balance, March 31, 2023 $ 179 Fixed Maturities Unrealized Depreciation The following tables summarize our fixed maturity securities that were in an unrealized loss position reported on a consolidated basis at March 31, 2023 and December 31, 2022. The securities are presented by the length of time they have been continuously in an unrealized loss position. Non-credit related unrealized losses are recognized as a component of other comprehensive income and represent other market movements that are not credit related, for example interest rate changes. We have no intent to sell, and it is more likely than not that we will not be required to sell, these securities until the fair value recovers to at least equal our cost basis or the securities mature. March 31, 2023 Less than 12 months 12 months or longer Total Type of Investment Number Fair Gross Unrealized Number Fair Gross Unrealized Depreciation Fair Gross Unrealized Depreciation AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury — $ — $ — 6 $ 12,633 $ 829 $ 12,633 $ 829 U.S. government agency 14 42,728 2,554 12 36,407 6,384 79,135 8,938 States, municipalities and political subdivisions General obligations Midwest 8 12,164 96 1 7,779 61 19,943 157 Northeast 1 3,499 24 — — — 3,499 24 South 12 25,768 351 4 10,864 150 36,632 501 West 18 39,985 284 1 7,248 105 47,233 389 Special revenue Midwest 17 36,384 312 2 3,627 88 40,011 400 Northeast 8 23,746 236 4 12,001 477 35,747 713 South 41 85,197 1,481 10 18,098 798 103,295 2,279 West 26 53,685 646 6 11,776 185 65,461 831 Foreign bonds 7 18,236 1,033 7 16,065 2,785 34,301 3,818 Public utilities 24 57,437 2,288 31 65,964 9,227 123,401 11,515 Corporate bonds Energy 13 27,485 788 2 6,941 1,400 34,426 2,188 Industrials 10 26,075 626 12 20,941 4,002 47,016 4,628 Consumer goods and services 19 52,538 1,651 14 33,182 7,106 85,720 8,757 Health care 4 9,101 222 7 17,455 4,365 26,556 4,587 Technology, media and telecommunications 17 36,541 953 11 23,737 4,916 60,278 5,869 Financial services 30 72,896 3,847 16 41,551 5,509 114,447 9,356 Mortgage-backed securities 26 7,058 67 26 16,475 2,358 23,533 2,425 Collateralized mortgage obligations Government National Mortgage Association 9 16,349 673 33 70,165 11,963 86,514 12,636 Federal Home Loan Mortgage Corporation 7 11,325 2,024 31 67,104 9,960 78,429 11,984 Federal National Mortgage Association 6 10,479 220 14 29,668 4,007 40,147 4,227 Asset-backed securities 1 3,475 110 — — — 3,475 110 Total Available-for-Sale Fixed Maturities 318 $ 672,151 $ 20,486 250 $ 529,681 $ 76,675 $ 1,201,832 $ 97,161 The unrealized losses on our investments in available-for-sale fixed maturities were the result of interest rate movements. We have no intent to sell, and it is more likely than not that we will not be required to sell these securities until the fair value recovers to at least equal our cost basis or the securities mature. December 31, 2022 Less than 12 months 12 months or longer Total Type of Investment Number Fair Gross Unrealized Depreciation Number Fair Gross Unrealized Depreciation Fair Gross Unrealized Depreciation AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury 4 $ 6,656 $ 212 4 $ 8,019 $ 797 $ 14,675 $ 1,009 U.S. government agency 24 70,158 5,606 3 11,242 4,115 81,400 9,721 States, municipalities and political subdivisions General obligations Midwest 16 29,089 263 — — — 29,089 263 Northeast 4 8,576 73 — — — 8,576 73 South 24 48,235 927 — — — 48,235 927 West 27 62,652 711 — — — 62,652 711 Special revenue Midwest 35 67,101 1,065 — — — 67,101 1,065 Northeast 14 37,484 1,148 — — — 37,484 1,148 South 58 126,388 3,124 1 866 405 127,254 3,529 West 39 83,622 1,658 — — — 83,622 1,658 Foreign bonds 9 21,377 1,861 5 10,272 2,619 31,649 4,480 Public utilities 45 101,867 8,737 9 19,979 4,669 121,846 13,406 Corporate bonds Energy 15 28,612 1,930 1 4,597 1,368 33,209 3,298 Industrials 21 43,639 3,542 4 7,049 2,012 50,688 5,554 Consumer goods and services 28 69,320 4,440 7 20,620 6,157 89,940 10,597 Health care 5 9,829 487 6 15,928 4,933 25,757 5,420 Technology, media and telecommunications 23 49,970 3,279 5 9,970 3,974 59,940 7,253 Financial services 40 101,411 6,997 5 11,236 2,208 112,647 9,205 Mortgage-backed securities 38 7,909 1,056 12 9,791 1,693 17,700 2,749 Collateralized mortgage obligations Government National Mortgage Association 29 48,898 4,500 12 35,650 8,791 84,548 13,291 Federal Home Loan Mortgage Corporation 21 35,456 5,629 19 43,383 7,900 78,839 13,529 Federal National Mortgage Association 14 24,146 1,281 7 16,674 3,611 40,820 4,892 Asset-backed securities 1 3,452 145 — — — 3,452 145 Total Available-for-Sale Fixed Maturities 534 $ 1,085,847 $ 58,671 100 $ 225,276 $ 55,252 $ 1,311,123 $ 113,923

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
Fair Value of Financial Instruments	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS Current accounting guidance on fair value measurements includes the application of a fair value hierarchy that requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Our financial instruments that are recorded at fair value are categorized into a three-level hierarchy, which is based upon the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets (i.e., Level 1) and the lowest priority to unobservable inputs (i.e., Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the financial instrument. Financial instruments recorded at fair value are categorized in the fair value hierarchy as follows: • Level 1 : Valuations are based on unadjusted quoted prices in active markets for identical financial instruments that we have the ability to access. • Level 2 : Valuations are based on quoted prices for similar financial instruments, other than quoted prices included in Level 1, in markets that are not active or on inputs that are observable either directly or indirectly for the full term of the financial instrument. • Level 3 : Valuations are based on pricing or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement of the financial instrument. Such inputs may reflect management's own assumptions about the assumptions a market participant would use in pricing the financial instrument. We review our fair value hierarchy categorizations on a quarterly basis at which time the classification of certain financial instruments may change if the input observations have changed. Transfers between levels, if any, are recorded as of the beginning of the reporting period. To determine the fair value of the majority of our investments, we utilize prices obtained from independent, nationally recognized pricing services. We obtain one price for each security. When the pricing services cannot provide a determination of fair value for a specific security, we obtain non-binding price quotes from broker-dealers with whom we have had several years' experience and who have demonstrated knowledge of the subject security. In order to determine the proper classification in the fair value hierarchy, we obtain and evaluate the vendors' pricing procedures and inputs used to price the security, which include unadjusted quoted market prices for identical securities, such as a New York Stock Exchange closing price, and quoted prices for identical securities in markets that are not active. For fixed maturity securities, an evaluation of interest rates and yield curves observable at commonly quoted intervals, volatility, prepayment speeds, credit risks and default rates may also be performed. We have determined that these processes and inputs result in fair values and classifications consistent with the applicable accounting guidance on fair value measurements. When possible, we use quoted market prices to determine the fair value of fixed maturities, equity securities, trading securities and short-term investments. When quoted market prices do not exist, we base estimates of fair value on market information obtained from independent pricing services and brokers or on valuation techniques that are both unobservable and significant to the overall fair value measurement of the financial instrument. Such inputs may reflect management's own assumptions about the assumptions a market participant would use in pricing the financial instrument. Our valuation techniques are discussed in more detail throughout this section. The mortgage loan portfolio consists entirely of commercial mortgage loans. The fair value of our mortgage loans is determined by modeling performed by our third-party fund manager based on the stated principal and coupon payments provided for in the loan agreements. These cash flows are then discounted using an appropriate risk-adjusted discount rate to determine the security's fair value. Our other long-term investments consist primarily of our interests in limited liability partnerships that are recorded on the equity method of accounting. The fair value of the partnerships is obtained from the fund managers, which is based on the fair value of the underlying investments held in the partnerships. In management's opinion, these values represent a reasonable estimate of fair value. We have not adjusted the net asset value provided by the fund managers. For cash and cash equivalents and accrued investment income, carrying value is a reasonable estimate of fair value due to the short-term nature of these financial instruments. The Company formed a rabbi trust in 2014 to fund obligations under the United Fire & Casualty Company Supplemental Executive Retirement and Deferral Plan (the "Executive Retirement Plan"). Within the rabbi trust, corporate-owned life insurance ("COLI") policies are utilized as an investment vehicle and source of funding for the Company's Executive Retirement Plan. The COLI policies invest in mutual funds, which are priced daily by independent sources. As of March 31, 2023, the cash surrender value of the COLI policies was $11,568 w hich is equal to the fair value measured using Level 2 inputs, based on the underlying assets of the COLI policie s, and is included in other assets in the Consolidated Balance Sheets. Our long-term debt is not carried in the Consolidated Balance Sheet at fair value. The fair value of our long-term debt is estimated using Level 2 inputs based on quoted prices for similar financial instruments. The fair value is estimated using a discounted cash flow analysis. A summary of the carrying value and estimated fair value of our financial instruments at March 31, 2023 and December 31, 2022 is as follows: March 31, 2023 December 31, 2022 Fair Value Carrying Value Fair Value Carrying Value Assets Investments Fixed maturities: Available-for-sale securities $ 1,591,348 $ 1,591,169 $ 1,551,339 $ 1,551,336 Equity securities 159,378 159,378 169,106 169,106 Mortgage loans 35,240 37,863 35,302 37,898 Other long-term investments 91,003 91,003 86,276 86,276 Short-term investments 275 275 275 275 Cash and cash equivalents 53,230 53,230 96,650 96,650 Corporate-owned life insurance 11,568 11,568 10,588 10,588 Liabilities Long Term Debt 37,696 50,000 36,168 50,000 The following tables present the categorization for our financial instruments measured at fair value on a recurring basis. The table includes financial instruments at March 31, 2023 and December 31, 2022: March 31, 2023 Fair Value Measurements Description Total Level 1 Level 2 Level 3 AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury $ 14,816 $ — $ 14,816 $ — U.S. government agency 82,148 — 82,148 — States, municipalities and political subdivisions General obligations Midwest 58,888 — 58,888 — Northeast 11,476 — 11,476 — South 63,471 — 63,471 — West 86,710 — 86,710 — Special revenue Midwest 103,010 — 103,010 — Northeast 54,614 — 54,614 — South 178,965 — 178,965 — West 112,902 — 112,902 — Foreign bonds 34,301 — 34,301 — Public utilities 135,711 — 135,711 — Corporate bonds Energy 34,426 — 34,426 — Industrials 59,399 — 59,399 — Consumer goods and services 91,752 — 91,752 — Health care 30,497 — 30,497 — Technology, media and telecommunications 63,296 — 63,296 — Financial services 126,379 — 120,966 5,413 Mortgage-backed securities 23,534 — 23,534 — Collateralized mortgage obligations Government national mortgage association 89,503 — 89,503 — Federal home loan mortgage corporation 81,454 — 81,454 — Federal national mortgage association 49,771 — 49,771 — Asset-backed securities 4,325 — 3,474 851 Total Available-for-Sale Fixed Maturities $ 1,591,348 $ — $ 1,585,084 $ 6,264 EQUITY SECURITIES Common stocks Public utilities $ 14,200 $ 14,200 $ — $ — Energy 19,812 19,812 — — Industrials 28,536 28,536 — — Consumer goods and services 37,262 37,262 — — Health care 7,585 7,585 — — Technology, media and telecommunications 27,290 27,290 — — Financial services 24,693 24,693 — — Total Equity Securities $ 159,378 $ 159,378 $ — $ — Short-Term Investments $ 275 $ 275 $ — $ — Money Market Accounts $ 17,962 $ 17,962 $ — $ — Corporate-Owned Life Insurance $ 11,568 $ — $ 11,568 $ — Total Assets Measured at Fair Value $ 1,780,531 $ 177,615 $ 1,596,652 $ 6,264 December 31, 2022 Fair Value Measurements Description Total Level 1 Level 2 Level 3 AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury $ 14,675 $ — $ 14,675 $ — U.S. government agency 84,406 — 84,406 — States, municipalities and political subdivisions General obligations Midwest 61,113 — 61,113 — Northeast 15,463 — 15,463 — South 63,981 — 63,981 — West 86,545 — 86,545 — Special revenue Midwest 102,266 — 102,266 — Northeast 54,220 — 54,220 — South 180,857 — 180,857 — West 112,212 — 112,212 — Foreign bonds 31,649 — 31,649 — Public utilities 125,411 — 125,411 — Corporate bonds Energy 33,209 — 33,209 — Industrials 52,842 — 52,842 — Consumer goods and services 89,941 — 89,941 — Health care 27,592 — 27,592 — Technology, media and telecommunications 59,940 — 59,940 — Financial services 124,292 — 118,617 5,675 Mortgage-backed securities 17,700 — 17,700 — Collateralized mortgage obligations Government national mortgage association 84,548 — 84,548 — Federal home loan mortgage corporation 78,838 — 78,838 — Federal national mortgage association 45,386 — 45,386 — Asset-backed securities 4,253 — 3,452 801 Total Available-for-Sale Fixed Maturities $ 1,551,339 $ — $ 1,544,863 $ 6,476 EQUITY SECURITIES Common stocks Public utilities $ 14,846 $ 14,846 $ — $ — Energy 19,743 19,743 — — Industrials 27,163 27,163 — — Consumer goods and services 43,139 43,139 — — Health care 7,981 7,981 — — Technology, media and telecommunications 28,213 28,213 — — Financial services 28,021 28,021 — — Total Equity Securities $ 169,106 $ 169,106 $ — $ — Short-Term Investments $ 275 $ 275 $ — $ — Money Market Accounts $ 31,289 $ 31,289 $ — $ — Corporate-Owned Life Insurance $ 10,588 $ — $ 10,588 $ — Total Assets Measured at Fair Value $ 1,762,597 $ 200,670 $ 1,555,451 $ 6,476 The fair value of securities that are categorized as Level 1 is based on quoted market prices that are readily and regularly available. We use a market-based approach for valuing all of our Level 2 securities and submit them primarily to a third-party valuation service provider. Any of these securities not valued by this service provider are submitted to another third-party valuation service provider. Both service providers use a market approach to find pricing of similar financial instruments. The market inputs our service providers normally seek to value our securities include the following, listed in approximate order of priority: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications. The method and inputs for these securities classified as Level 2 are the same regardless of industry category, credit quality, duration, geographical concentration or economic characteristics. For our mortgage-backed securities, collateralized mortgage obligations and asset-backed securities, our service providers use additional market inputs to value these securities, including the following: new issue data, periodic payment information, monthly payment information, collateral performance and real estate analysis from third parties. Our service providers prioritize inputs based on market conditions, and not all inputs listed are available for use in the valuation process for each security on any given day. At least annually, we review the methodologies and assumptions used by our valuation service providers and verify that they are reasonable and representative of the fair value of the underlying securities held in the investment portfolio. We validate the prices obtained from independent pricing services and brokers prior to their use for reporting purposes by evaluating their reasonableness on a monthly basis. In addition, on a quarterly basis, we also test all securities in the portfolio and independently corroborate the valuations obtained from our third-party valuation service providers. Quarterly, we also perform deep dive analyses of the pricing method used by our third-party valuation service provider by selecting a random sample of securities by asset class and reviewing methodologies. In our opinion, the pricing obtained at March 31, 2023 and December 31, 2022 was reasonable. For the three-month period ended March 31, 2023, the change in our available-for-sale securities categorized as Level 1 and Level 2 is the result of investment purchases that were made using funds held in our money market accounts, disposals and the change in unrealized gains on both fixed maturities and equity securities. Securities categorized as Level 3 include holdings in certain private placement fixed maturity and equity securities for which an active market does not currently exist. The fair value of our Level 3 private placement securities is determined by management relying on pricing received from our independent pricing services and brokers consistent with the process to estimate fair value for Level 2 securities. However, securities are categorized as Level 3 if these quotes cannot be corroborated by other market observable data due to the unobservable nature of the brokers’ valuation processes. The following table provides quantitative information about our Level 3 securities at March 31, 2023: Quantitative Information about Level 3 Fair Value Measurements Fair Value at Valuation Technique(s) Unobservable inputs Range of weighted average significant unobservable inputs March 31, 2023 Fixed Maturities corporate $ 5,413 Discounted cash flow Discount Rates 3.5% - 7.5% Fixed Maturities asset-backed securities 851 Discounted cash flow Probability of default 4% - 6% The following table provides a summary of the changes in fair value of our Level 3 securities for the three-month period ended March 31, 2023: Corporate bonds Asset-backed securities Equities Total Beginning Balance at January 1, 2023 $ 5,675 $ 801 $ — $ 6,476 Net unrealized gains (losses) (1) (262) 50 — (212) Ending Balance at March 31, 2023 $ 5,413 $ 851 $ — $ 6,264 (1) Net unrealized gains (losses) are recorded as a component of comprehensive income. Commercial Mortgage Loans The following tables present the carrying value of our commercial mortgage loans and additional information at March 31, 2023 and December 31, 2022: Commercial Mortgage Loans March 31, 2023 December 31, 2022 Loan-to-value Carrying Value Carrying Value Less than 65% $ 29,113 $ 29,231 65%-75% 8,799 8,716 Total amortized cost $ 37,912 $ 37,947 Allowance for mortgage loan losses (49) (49) Mortgage loans, net $ 37,863 $ 37,898 Mortgage Loans by Region March 31, 2023 December 31, 2022 Carrying Value Percent of Total Carrying Value Percent of Total East North Central $ 3,245 8.6 % $ 3,245 8.6 % Southern Atlantic 9,351 24.6 9,397 24.7 East South Central 7,719 20.3 7,783 20.5 New England 6,588 17.4 6,588 17.4 Middle Atlantic 6,100 16.1 6,139 16.2 Mountain 1,992 5.3 1,992 5.2 West North Central 2,917 7.7 2,803 7.4 Total mortgage loans at amortized cost $ 37,912 100.0 % $ 37,947 100.0 % Mortgage Loans by Property Type March 31, 2023 December 31, 2022 Carrying Value Percent of Total Carrying Value Percent of Total Commercial Multifamily $ 8,593 22.7 % $ 8,493 22.4 % Office 11,189 29.4 11,267 29.7 Industrial 10,038 26.5 10,056 26.5 Retail 1,992 5.3 1,992 5.2 Mixed use/Other 6,100 16.1 6,139 16.2 Total mortgage loans at amortized cost $ 37,912 100.0 % $ 37,947 100.0 % Amortized Cost Basis by Year of Origination and Credit Quality Indicator 2023 2022 2020 2019 2018 Total Commercial mortgage loans: Risk Rating: 1-2 internal grade $ 128 $ 101 5,350 $ 7,959 $ 17,786 $ 31,324 3-4 internal grade — — — — 6,588 6,588 5 internal grade — — — — — — 6 internal grade — — — — — — 7 internal grade — — — — — — Total commercial mortgage loans $ 128 $ 101 $ 5,350 $ 7,959 $ 24,374 $ 37,912 Current-period write-offs — — — — — — Current-period recoveries — — — — — — Current-period net write-offs $ — $ — $ — $ — $ — $ — Commercial mortgage loans carrying value excludes accrued interest of $133. As of March 31, 2023, all loan receivables were current, with no delinquencies. The commercial mortgage loans originate with an initial loan-to-value ratio to provide sufficient collateral to absorb losses should a loan be required to foreclose. Mortgage loans are evaluated on a quarterly basis for impairment on an individual basis through a monitoring process and review of key credit indicators, such as economic trends, delinquency rates, property valuations, occupancy and rental rates and loan-to-value ratios. A loan is considered impaired when the Company believes it will not collect the contractual principal and interest set forth in the contractual terms of the loan. An internal grade is assigned to each mortgage loan, with a grade of 1 being the highest and least likely for an impairment and the lowest rating of 7 being the most likely for an impairment. An allowance for mortgage loan losses is established on each loan recognizing a loss for amounts which we believe will not be collected according to the contractual terms of the respective loan agreement. As of March 31, 2023, the Company had an allowance for mortgage loan losses of $49, summarized in the following rollforward: Rollforward of allowance for mortgage loan losses: As of March 31, 2023 Beginning balance, January 1, 2023 $ 49 Current-period provision for expected credit losses — Ending balance of the allowance for mortgage loan losses, March 31, 2023 $ 49

Reserves for Losses and Loss Se

Reserves for Losses and Loss Settlement Expenses	3 Months Ended
Reserves for Losses and Loss Settlement Expenses	Mar. 31, 2023
Insurance Loss Reserves [Abstract]
Reserves for Losses and Loss Settlement Expenses	RESERVES FOR LOSSES AND LOSS SETTLEMENT EXPENSES Property insurance indemnifies an insured with an interest in physical property for loss of, or damage to, such property or the loss of its income-producing abilities. Casualty insurance primarily covers liability for damage to property of, or injury to, a person or entity other than the insured. In most cases, casualty insurance also obligates the insurance company to provide a defense for the insured in litigation, arising out of events covered by the policy. Liabilities for losses and loss settlement expenses reflect management's best estimates at a given point in time of what we expect to pay for claims that have been reported and those that have been incurred but not reported ("IBNR"), based on known facts, circumstances, and historical trends. Because property and casualty insurance reserves are estimates of the unpaid portions of incurred losses that have been reported to us, as well as losses that have been incurred but not reported, the establishment of appropriate reserves, including reserves for catastrophes, is an inherently uncertain and complex process. The ultimate cost of losses and related loss settlement expenses may vary materially from recorded amounts. We regularly update our reserve estimates as new information becomes available and as events unfold that may affect the resolution of unsettled claims. Changes in prior year reserve estimates, which may be material, are reported as a component of losses and loss settlement expenses incurred in the period such changes are determined. The determination of reserves (particularly those relating to liability lines of insurance that have relatively longer lag in claim reporting) requires significant work to reasonably project expected future claim reporting and payment patterns. If, during the course of our regular monitoring of reserves, we determine that coverages previously written are incurring higher than expected losses, we will evaluate an appropriate response that may include, among other things, increasing the related reserves. Any adjustments we make to reserves are reflected in operating results in the year in which we make those adjustments. We engage an independent actuary, Regnier Consulting Group, Inc., to render an opinion as to the reasonableness of our statutory reserves annually. The actuarial opinion is filed in those states where we are licensed. On a quarterly basis, UFG's team of actuaries performs a detailed actuarial review of IBNR reserves. This review includes a comparison of results from the most recent analysis of reserves completed by both our internal and external actuaries. Senior management meets with our actuarial team to review, on a regular and quarterly basis, the adequacy of carried reserves based on results from this actuarial analysis. There are two fundamental types or sources of IBNR reserves. We record IBNR reserves for "normal" types of claims and also specific IBNR reserves related to unique circumstances or events. A major hurricane is an example of an event that might necessitate establishing specific IBNR reserves because an analysis of existing historical data would not provide an appropriate estimate. We do not discount loss reserves based on the time value of money. The following table provides an analysis of changes in our property and casualty losses and loss settlement expense reserves at March 31, 2023 and December 31, 2022 (net of reinsurance amounts): March 31, 2023 December 31, 2022 Gross liability for losses and loss settlement expenses $ 1,497,274 $ 1,514,265 Ceded losses and loss settlement expenses (146,875) (112,900) Net liability for losses and loss settlement expenses $ 1,350,399 $ 1,401,365 Losses and loss settlement expenses incurred Current year $ 170,534 $ 624,411 Prior years 4,063 12,890 Total incurred $ 174,597 $ 637,301 Losses and loss settlement expense payments Current year $ 16,401 $ 215,891 Prior years 145,831 472,377 Total paid $ 162,232 $ 688,268 Net liability for losses and loss settlement expenses $ 1,362,764 $ 1,350,399 Ceded losses and loss settlement expenses 136,627 146,875 Gross liability for losses and loss settlement expenses $ 1,499,391 $ 1,497,274 There are a multitude of factors that can impact loss reserve development. Those factors include, but are not limited to: historical data, the potential impact of various loss reserve development factors and trends including historical loss experience, legislative enactments, judicial decisions, legal developments in imposition of damages, experience with alternative dispute resolution, results of our medical bill review process, the potential impact of salvage and subrogation and changes and trends in general economic conditions, including the effects of inflation. All of these factors influence our estimates of required reserves and for long tail lines these factors can change over the course of the settlement of the claim. However, there is no precise method for evaluating the specific monetary impact of any individual factor on the development of reserves. Generally, we base reserves for each claim on the estimated ultimate exposure for that claim. We believe that it is appropriate and reasonable to establish a best estimate for reserves within a range of reasonable estimates, especially when we are reserving for claims for bodily injury, disabilities and similar claims, for which settlements and verdicts can vary widely. We believe our approach produces recorded reserves that are reasonably consistent as to their relative position within a range of reasonable reserves from year-to-year. However, conditions and trends that have affected the reserve development for a given year do change. Therefore, such development cannot be used to project future reserve redundancies or deficiencies. We are not aware of any significant contingent liabilities related to environmental issues. Because of the type of property coverage we write, we have potential exposure to environmental pollution, mold and asbestos claims. Our underwriters are aware of these exposures and use riders or endorsements to limit exposure. Reserve Development The significant driver of the unfavorable reserve development in the three-month period ended March 31, 2023 was unfavorable development on catastrophe losses. Fire and allied lines experienced unfavorable development on wind and hail catastrophes primarily from 2022 storms, as well as unfavorable development in assumed reinsurance. Non-catastrophe reserve development was flat with unfavorable development in commercial other liability and workers' compensation offset by favorable development in fire and allied lines and commercial automobile. The significant drivers of the unfavorable reserve development in 2022 were commercial other liability and commercial fire and allied lines. This was offset partially by favorable development in commercial automobile, workers' compensation and fidelity and surety. The unfavorable development in commercial other liability was due to paid loss and LAE which was greater than reductions in reserves for unpaid loss and LAE. Emerging claim experience and deeper data insights during 2022 pointed to an increase in loss exposure on these longer tailed businesses driven in part by social and economic inflation. Commercial fire and allied developed unfavorably due to paid loss and LAE which was greater than reductions in reserves for unpaid loss and LAE driven by catastrophe losses and increased severity on non-catastrophe claims. The favorable development for commercial automobile was from both loss and LAE where reductions of reserves for unpaid liabilities were more than sufficient to offset actual paid loss. Paid LAE reductions in reserves for IBNR claims also contributed favorable development in addition to LAE where reductions in reserves were more than sufficient to offset payments.

Employee Benefits

Employee Benefits	3 Months Ended
Employee Benefits	Mar. 31, 2023
Retirement Benefits [Abstract]
Employee Benefits	EMPLOYEE BENEFITS Net Periodic Benefit Cost The components of the net periodic benefit cost for our pension and postretirement benefit plans are as follows: Pension Plan Postretirement Benefit Plan Three Months Ended March 31, 2023 2022 2023 2022 Net periodic benefit cost Service cost $ 954 $ 1,120 $ — $ — Interest cost 2,526 1,933 — 1 Expected return on plan assets (3,756) (4,723) — — Amortization of prior service credit (820) (820) — (3,771) Amortization of net loss 52 194 — 706 Net periodic benefit cost $ (1,044) $ (2,296) $ — $ (3,064) A portion of the service cost component of net periodic pension and postretirement benefit costs is capitalized and amortized as part of deferred acquisition costs and is included in the line "Amortization of deferred policy acquisition costs" in the Consolidated Statements of Income and Comprehensive Income. The portion not related to the compensation and the other components of net periodic pension and postretirement benefit costs is included in the income statement line titled "other underwriting expenses." In January 2021, the Company changed the postretirement benefit plan to a voluntary plan funded exclusively by participants, commencing at the start of 2023. The impact of this decision is reflected in the table above, with a one-time adjustment presented in the line "Special event plan closure" and an additional adjustment in the line "Amortization of prior service credit". The amortization of prior service credits continued through the end of 2022 related to these plan changes. As of December 31, 2022, the postretirement benefit obligation was $0. Employer Contributions

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
Stock-Based Compensation	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	STOCK-BASED COMPENSATION Non-Qualified Employee Stock Award Plan The United Fire Group, Inc. 2008 Stock Plan (the "2008 Stock Plan") authorized the issuance of restricted and unrestricted stock awards, restricted stock units, stock appreciation rights, incentive stock options, and non-qualified stock options for up to 1,900,000 shares of UFG common stock to employees. In May 2014, the Registrant's shareholders approved an additional 1,500,000 shares of UFG common stock issuable pursuant to the 2008 Stock Plan, among other amendments, and renamed such plan as the United Fire Group, Inc. Stock Plan. In May 2021, the Registrant's shareholders approved an additional 650,000 shares of UFG common stock issuable pursuant to the Stock Plan, and among other amendments, renamed such plan as the United Fire Group, Inc. 2021 Stock and Incentive Plan (as amended, the "Stock Plan"). At March 31, 2023, there were 1,112,116 authorized shares remaining available for future issuance. The Stock Plan is administered by the Board of Directors, which determines those employees who will receive awards, when awards will be granted, and the terms and conditions of the awards. The Board of Directors may also take any action it deems necessary and appropriate for the administration of the Stock Plan. Pursuant to the Stock Plan, the Board of Directors may, at its sole discretion, grant awards to our employees, who are in positions of substantial responsibility with UFG. Options granted pursuant to the Stock Plan are granted to buy shares of UFG's common stock at the market value of the stock on the date of grant. Options granted prior to March 2017 vest and are exercisable in installments of 20.0 percent of the number of shares covered by the option award each year from the grant date, unless the Board of Directors authorizes the acceleration of vesting. Options granted after March 2017 vest and are exercisable in installments of 33.3 percent of the number of shares covered by the option award each year from the grant date, unless the Board of Directors authorizes the acceleration of vesting. To the extent not exercised, vested option awards accumulate and are exercisable by the awardee, in whole or in part, in any subsequent year included in the option period, but not later than 10 years from the grant date. Restricted and unrestricted stock awards granted pursuant to the Stock Plan are granted at the market value of UFG's common stock on the date of the grant. Restricted stock units fully vest after three years or five years from the date of grant, unless accelerated upon the approval of the Board of Directors, at which time UFG common stock will be issued to the awardee. The activity in the Stock Plan is displayed in the following table: Authorized Shares Available for Future Award Grants Three Months Ended March 31, 2023 From Inception to March 31, 2023 Beginning balance 1,342,119 1,900,000 Additional shares authorized — 2,150,000 Number of awards granted (250,897) (3,873,038) Number of awards forfeited or expired 20,894 935,154 Ending balance 1,112,116 1,112,116 Number of option awards exercised 4,000 1,537,336 Number of unrestricted stock awards granted — 10,090 Number of restricted stock awards vested 15,257 283,102 Non-Qualified Non-Employee Director Stock Plan The United Fire Group, Inc. Non-Employee Director Stock Plan (formerly known as the 2005 Non-Qualified Non- Employee Director Stock Option and Restricted Stock Plan) (the "Director Stock Plan") authorizes the issuance of restricted stock awards and non-qualified stock options to purchase shares of UFG's common stock to non-employee directors. On May 20, 2020, the Company’s shareholders approved amendments to the Director Stock Plan, previously approved by the Company’s Board of Directors, to (i) increase the number of shares available for future awards under the Director Stock Plan from 300,000 to 450,000, ( ii) extend the expiration date of the Director Stock Plan from December 31, 2020 to December 31, 2029, (iii) allow for the grant of awards of restricted stock units, and (iv) rename the Director Stock Plan as the "United Fire Group, Inc. Non-Employee Director Stock Plan." At March 31, 2023, the Company had 123,397 authorized shares available for future issuance. The Board of Directors has the authority to determine which non-employee directors receive awards, when restricted stock, restricted stock units and options shall be granted, the option price, the option expiration date, the date of grant, the vesting schedule of options or whether the options shall be immediately vested, the terms and conditions of options, restricted stock and restricted stock units (other than those terms and conditions set forth in the plan) and the number of shares of common stock to be issued pursuant to an option, restricted stock or restricted stock unit agreements (subject to limits set forth in the Director Stock Plan). The Board of Directors may also take any action it deems necessary and appropriate for the administration of the Director Stock Plan. The activity in the Director Stock Plan is displayed in the following table: Authorized Shares Available for Future Award Grants Three Months Ended March 31, 2023 From Inception to March 31, 2023 Beginning balance 123,397 300,000 Additional authorization — 150,000 Number of awards granted — (355,238) Number of awards forfeited or expired — 28,635 Ending balance 123,397 123,397 Number of option awards exercised 1,755 152,336 Number of restricted stock awards vested — 117,001 Stock-Based Compensation Expense For the three-month periods ended March 31, 2023 and 2022, we recognized stock-based compensation expense of $1,076 a nd $979, respectively. As of March 31, 2023, we had $7,126 in stock-based compensation expense that has yet to be recognized through our results of operations. We expect this compensation to be recognized over the remainder of 2023 and subsequent years according to the table below, except with respect to awards that are accelerated by the Board of Directors, in which case we will recognize any remaining compensation expense in the period in which the awards are accelerated. 2023 $ 2,477 2024 2,826 2025 1,626 2026 197 2027 — Total $ 7,126

Earnings Per Common Share

Earnings Per Common Share	3 Months Ended
Earnings Per Common Share	Mar. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Common Share	EARNINGS PER COMMON SHARE Basic earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per share gives effect to all dilutive common shares outstanding during the reporting period. The dilutive shares we consider in our diluted earnings per share calculation relate to our outstanding stock options, restricted stock awards and restricted stock unit awards. We determine the dilutive effect of our outstanding stock options using the "treasury stock" method. Under this method, we assume the exercise of all of the outstanding stock options whose exercise price is less than the weighted-average market value of our common stock during the reporting period. This method also assumes that the proceeds from the hypothetical stock option exercises are used to repurchase shares of our common stock at the weighted-average market value of the stock during the reporting period. The net of the assumed stock options exercised and assumed common shares repurchased represents the number of dilutive common shares, which we add to the denominator of the earnings per share calculation. The components of basic and diluted earnings per share were as follows for the three-month periods ended March 31, 2023 and 2022: Three Months Ended March 31, (In Thousands, Except Share Data) 2023 2022 Basic Diluted Basic Diluted Net income (loss) $ 694 $ 694 $ 28,349 $ 28,349 Weighted-average common shares outstanding 25,220,437 25,220,437 25,100,885 25,100,885 Add dilutive effect of restricted stock unit awards — 279,678 — 222,220 Add dilutive effect of stock options — — — — Weighted-average common shares outstanding 25,220,437 25,500,115 25,100,885 25,323,105 Earnings (loss) per common share $ 0.03 $ 0.03 $ 1.13 $ 1.12 Awards excluded from diluted earnings per share calculation (1) — 737,629 — 822,375 (1) Outstanding awards that are not "in-the-money" are excluded from the diluted earnings per share calculation because the effect of including them would have been anti-dilutive.

Debt

Debt	3 Months Ended
Debt	Mar. 31, 2023
Debt Disclosure [Abstract]
Debt	DEBT Long Term Debt The Company executed a private placement debt transaction on December 15, 2020 between UF&C, and Federated Mutual and Federated Life. UF&C sold an aggregate principal amount of $50,000 of notes due 2040 to the Note Purchasers. One note with a principal amount of $35,000 was issued to Federated Mutual and one note with a principal amount of $15,000 was issued to Federated Life subject to the terms of their respective notes. Interest payments under the long term debt will be paid quarterly on March 15, June 15, September 15 and December 15 of each year (each such date, an "Interest Payment Date"). The interest rate will equal the rate that corresponds to the A.M. Best Co. (or its successor’s) financial strength rating for members of the United Fire & Casualty Pooled Group as of the applicable Interest Payment Date, as set forth in the table below. For the three-month period ended March 31, 2023, interest expense totaled $797. Payment of interest is subject to approval by the Iowa Insurance Division. A.M. Best Co. Financial Strength Rating Applicable Interest Rate A+ 5.875% A 6.375% A- 6.875% B++ (or lower) 7.375% Credit Facilities On March 31, 2020, UF&C, a wholly owned subsidiary of the Company, entered into a credit agreement (the "Credit Agreement") with Wells Fargo Bank, National Association ("Wells Fargo"), as administrative agent (the "Administrative Agent"), issuing lender, swing-line lender and lender, and the other lenders from time to time party thereto (collectively with Wells Fargo, the "Lenders"), providing for a $50,000 revolving credit facility, which includes a $20,000 letter of credit sub-facility and a $5,000 swing-line loan for working capital and other general corporate purposes. The Credit Agreement is provided by the Lenders on an unsecured basis, and UF&C has the option to increase the Credit Agreement by $100,000 if agreed to by the Lenders providing such incremental facility. The Credit Agreement includes customary events of default, including default in payments of principals, default in payment of other indebtedness, change of control and voluntary and involuntary insolvency proceedings, the occurrence of which would allow the Lenders to accelerate payment of all amounts outstanding thereunder and terminate any further commitments to lend. The entry into the Credit Agreement was completed as part of the Company’s regular course of financial planning and was not initiated as a result of market conditions resulting from the COVID-19 pandemic. There was no outstanding balance on the Credit Agreement at March 31, 2023 and 2022, respectively. For the three-month periods ended March 31, 2023 and 2022, we did not incur any interest expense related to the credit facility. We were in compliance with all covenants under the Credit Agreement at March 31, 2023.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
Accumulated Other Comprehensive Income (Loss)	Mar. 31, 2023
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table shows the changes in the components of our accumulated other comprehensive income (loss), net of tax, for the three-month period ended March 31, 2023: Liability for Net unrealized underfunded appreciation employee on investments benefit costs (1) Total Balance as of January 1, 2023 (88,369) 873 $ (87,496) Change in accumulated other comprehensive income (loss) before reclassifications 14,223 (648) 13,575 Reclassification adjustments from accumulated other comprehensive income (loss) 427 41 468 Balance as of March 31, 2023 $ (73,719) $ 266 $ (73,453)

Leases

Leases	3 Months Ended
Leases	Mar. 31, 2023
Leases [Abstract]
Leases	LEASES The Company has operating leases consisting of office space, vehicle leases, computer equipment, and office equipment. Lease terms and options vary in the Company's operating leases dependent upon the underlying leased asset. We exclude options to extend or terminate a lease from our recognition as part of our right-of-use assets and lease liabilities until those options are known and/or executed, as we typically do not exercise options to purchase the underlying leased asset. As of March 31, 2023, we have leases with remaining terms of one year to five years, some of which may include no options for renewal and others with options to extend the lease terms from six months to five years. The components of our operating leases were as follows for the three-month periods ended March 31, 2023 and 2022: Three Months Ended March 31, 2023 2022 Components of lease expense: Operating lease expense $ 2,188 $ 2,177 Less sublease income 167 53 Net lease expense 2,021 2,124 Cash flows information related to leases: Operating cash outflow from operating leases 2,052 2,143

Nature of Operations and Basi_2

Nature of Operations and Basis of Presentation (Policies)	3 Months Ended
Nature of Operations and Basis of Presentation (Policies)	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The unaudited consolidated interim financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial reporting and with the instructions to Form 10-Q and Regulation S-X promulgated by the SEC. Certain financial information that is included in our Annual Report on Form 10-K/A for the year ended December 31, 2022, including certain financial statement footnote disclosures, is not required by the rules and regulations of the SEC for interim financial reporting and has been condensed or omitted.
Use of Estimates	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities 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. The financial statement categories that are most dependent on management estimates and assumptions include: investments; deferred policy acquisition costs; reinsurance receivables and recoverables; loss settlement expenses; and pension and postretirement benefit obligations.
Segment Information	Our property and casualty insurance business is reported as one business segment. The property and casualty insurance business profit or loss is consistent with consolidated reporting as disclosed on the Consolidated Statements of Income and Comprehensive Income. We analyze the property and casualty insurance business results based on profitability (i.e., loss ratios), expenses and return on equity. The Company's property and casualty insurance business was determined using a management approach to make decisions on operating matters, including allocating resources, assessing performance, determining which products to market and sell, determining distribution networks with insurance agents and monitoring the regulatory environment. The property and casualty insurance business products have similar economic characteristics and use a similar marketing and distribution strategy with our independent agents. We will continue to evaluate our operations on the basis of both statutory accounting principles prescribed or permitted by our states of domicile and GAAP.
Cash and Cash Equivalents	For purposes of reporting cash flows, cash and cash equivalents include cash, money market accounts, cash on deposit and held at Lloyd's and non-negotiable certificates of deposit with original maturities of three months or less.
Deferred Policy Acquisition Costs (DAC)	Certain costs associated with underwriting new business (primarily commissions, premium taxes and variable underwriting and policy issue expenses associated with successful acquisition efforts) are deferred.Property and casualty insurance policy acquisition costs deferred are amortized as premium revenue is recognized. The method followed in computing DAC limits the amount of such deferred costs to their estimated realizable value. This takes into account the premium to be earned, losses and loss settlement expenses expected to be incurred and certain other costs expected to be incurred as the premium is earned.
Other Intangible Assets	Our other intangible assets, which consist primarily of agency relationships, trade names, state insurance licenses, and software, are being amortized using the straight-line method over periods ranging from two years to 15 years, with the exception of state insurance licenses, which are indefinite-lived and not amortized.
Income Taxes	Deferred tax assets and liabilities are established based on differences between the financial statement bases of assets and liabilities and the tax bases of those same assets and liabilities, using the currently enacted statutory tax rates. Deferred income tax expense is measured by the year-to-year change in the net deferred tax asset or liability, except for certain changes in deferred tax amounts that affect stockholders' equity and do not impact federal income tax expense. We reported a consolidated federal income tax benefit of $695 for the three-month period ended March 31, 2023 compared to an income tax expense of $6,377 during the same period of 2022. Our effective tax rate for 2023 and 2022 is different than the federal statutory rate of 21 percent, due principally to the net effect of tax-exempt municipal bond interest income. The Company performs a quarterly review of its tax positions and makes a determination of whether it is more likely than not that the tax position will be sustained upon examination. If, based on this review, it appears not more likely than not that the positions will be sustained, the Company will calculate any unrecognized tax benefits and, if necessary, calculate and accrue any related interest and penalties. We did not recognize any liability for unrecognized tax benefits at March 31, 2023 or December 31, 2022. In addition, we have not accrued for interest and penalties related to unrecognized tax benefits. However, if interest and penalties would need to be accrued related to unrecognized tax benefits, such amounts would be recognized as a component of federal income tax expense. Deferred tax assets are reduced by a valuation allowance when management believes it is more likely than not that some, or all, of the deferred taxes will not be realized. After considering all positive and negative evidence of taxable income in the carryback and carryforward periods and our tax planning strategy of holding debt securities with unrealized losses to maturity or recovery, we believe it is more likely than not that all the deferred assets will be realized. As a result, we have no valuation allowance at March 31, 2023 or December 31, 2022. For the three-month period ended March 31, 2023, we made payments for income taxes totaling $12. For the three-month period ended March 31, 2022, we did not make payments for income taxes. For the three-month period ended March 31, 2023, we received no federal tax refund. For the three-month period ended March 31, 2022, we received a federal tax refund of $10,000.
Leases	The Company determines if a contract contains a lease at inception of the contract. The Company's inventory of leases consists of operating leases which are recorded as a lease obligation liability disclosed in the "Accrued expenses and other liabilities" line on the Consolidated Balance Sheets and as a lease right-of-use asset disclosed in the "Other assets" line on the Consolidated Balance Sheets. The Company's operating leases consist of office space, vehicles, computer equipment and office equipment. The lease right-of-use asset represents the Company's right to use each underlying asset for the lease term and the lease obligation liability represents the Company's obligation over the lease term. The Company's lease obligation is recorded at the present value of the lease payments based on the term of the applied lease. Short-term leases of 12 months or less are recorded on the Consolidated Balance Sheets and lease payments are recognized on the Consolidated Statements of Income and Comprehensive Income.
Variable Interest Entities	The Company and certain related parties are equity investors in one investment which the Company determined is a variable interest entity ("VIE") as a result of participation in the risks and rewards of the VIE based on the objectives and strategies of the VIE. The VIE is a limited liability company that primarily invests in commercial real estate. The Company and certain related parties are not the primary beneficiary largely due to their inability to influence management or direct the activities that most significantly impact the VIE's economic performance. Based on these facts and circumstances, the Company has a variable interest in the VIE, but has not consolidated the VIE's financial results as it is not the primary beneficiary. The Company's investment is reported in other long-term investments in the Consolidated Balance Sheets and accounted for under the equity method of accounting.
Credit Losses	The Company recognizes credit losses for our available-for-sale fixed-maturity portfolio, reinsurance receivables, mortgage loans and premium receivables by setting up allowances which are remeasured each reporting period and recorded in the Consolidated Statements of Income and Comprehensive Income. For our available-for-sale fixed-maturity portfolio an allowance for credit losses is recorded net of available-for-sale fixed maturities in the Consolidated Balance Sheets and a corresponding credit loss recognized as a realized loss or gain in the Consolidated Statements of Income and Comprehensive Income. The Company determines if an allowance for credit losses is recorded based on a number of factors including the current economic conditions, management's expectations of future economic conditions and performance indicators, such as market value versus amortized cost, investment spreads widening or contracting, rating actions, payment and default history. For more information on credit losses and the allowance for credit losses for our available-for-sale fixed-maturity portfolio, see Note 2 "Summary of Investments." An allowance for mortgage loan losses is established based on historical loss information of the collective pool of the Company's commercial mortgage loan investments which have similar risk characteristics. To calculate the allowance for mortgage loan losses, the Company starts with historical loan experience to predict the future expected losses and then layers on a market-linked adjustment. On a quarterly basis, quantitative credit risk metrics, including for example, cash-flows, rent rolls and financial statements are reviewed for each loan to determine if it is performing in line with its expectations. This allowance is presented as a separate line in the Consolidated Balance Sheets beneath the asset value as well as presented net and recorded through "Net investment gains (losses)" in the Consolidated Statements of Income and Comprehensive Income. For more information on credit losses and the allowance for credit losses for our investment in mortgage loans see Note 3 "Fair Value of Financial Instruments."
Subsequent Events	In the preparation of the accompanying financial statements, the Company has evaluated all material subsequent events or transactions that occurred after the balance sheet date through the date on which the financial statements were issued for potential recognition or disclosure in the Company's financial statements.
Recently Issued Accounting Standards	Accounting Standards Adopted in 2022 Inflation Reduction Act
Fair Value of Financial Instruments	Current accounting guidance on fair value measurements includes the application of a fair value hierarchy that requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Our financial instruments that are recorded at fair value are categorized into a three-level hierarchy, which is based upon the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets (i.e., Level 1) and the lowest priority to unobservable inputs (i.e., Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the financial instrument. Financial instruments recorded at fair value are categorized in the fair value hierarchy as follows: • Level 1 : Valuations are based on unadjusted quoted prices in active markets for identical financial instruments that we have the ability to access. • Level 2 : Valuations are based on quoted prices for similar financial instruments, other than quoted prices included in Level 1, in markets that are not active or on inputs that are observable either directly or indirectly for the full term of the financial instrument. • Level 3 : Valuations are based on pricing or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement of the financial instrument. Such inputs may reflect management's own assumptions about the assumptions a market participant would use in pricing the financial instrument. We review our fair value hierarchy categorizations on a quarterly basis at which time the classification of certain financial instruments may change if the input observations have changed. Transfers between levels, if any, are recorded as of the beginning of the reporting period. To determine the fair value of the majority of our investments, we utilize prices obtained from independent, nationally recognized pricing services. We obtain one price for each security. When the pricing services cannot provide a determination of fair value for a specific security, we obtain non-binding price quotes from broker-dealers with whom we have had several years' experience and who have demonstrated knowledge of the subject security. In order to determine the proper classification in the fair value hierarchy, we obtain and evaluate the vendors' pricing procedures and inputs used to price the security, which include unadjusted quoted market prices for identical securities, such as a New York Stock Exchange closing price, and quoted prices for identical securities in markets that are not active. For fixed maturity securities, an evaluation of interest rates and yield curves observable at commonly quoted intervals, volatility, prepayment speeds, credit risks and default rates may also be performed. We have determined that these processes and inputs result in fair values and classifications consistent with the applicable accounting guidance on fair value measurements. When possible, we use quoted market prices to determine the fair value of fixed maturities, equity securities, trading securities and short-term investments. When quoted market prices do not exist, we base estimates of fair value on market information obtained from independent pricing services and brokers or on valuation techniques that are both unobservable and significant to the overall fair value measurement of the financial instrument. Such inputs may reflect management's own assumptions about the assumptions a market participant would use in pricing the financial instrument. Our valuation techniques are discussed in more detail throughout this section. The mortgage loan portfolio consists entirely of commercial mortgage loans. The fair value of our mortgage loans is determined by modeling performed by our third-party fund manager based on the stated principal and coupon payments provided for in the loan agreements. These cash flows are then discounted using an appropriate risk-adjusted discount rate to determine the security's fair value. Our other long-term investments consist primarily of our interests in limited liability partnerships that are recorded on the equity method of accounting. The fair value of the partnerships is obtained from the fund managers, which is based on the fair value of the underlying investments held in the partnerships. In management's opinion, these values represent a reasonable estimate of fair value. We have not adjusted the net asset value provided by the fund managers. For cash and cash equivalents and accrued investment income, carrying value is a reasonable estimate of fair value due to the short-term nature of these financial instruments. The Company formed a rabbi trust in 2014 to fund obligations under the United Fire & Casualty Company Supplemental Executive Retirement and Deferral Plan (the "Executive Retirement Plan"). Within the rabbi trust, corporate-owned life insurance ("COLI") policies are utilized as an investment vehicle and source of funding for the Company's Executive Retirement Plan. The COLI policies invest in mutual funds, which are priced daily by independent sources. As of March 31, 2023, the cash surrender value of the COLI policies was $11,568 w hich is equal to the fair value measured using Level 2 inputs, based on the underlying assets of the COLI policie s, and is included in other assets in the Consolidated Balance Sheets. Our long-term debt is not carried in the Consolidated Balance Sheet at fair value. The fair value of our long-term debt is estimated using Level 2 inputs based on quoted prices for similar financial instruments. The fair value is estimated using a discounted cash flow analysis. The fair value of securities that are categorized as Level 1 is based on quoted market prices that are readily and regularly available. We use a market-based approach for valuing all of our Level 2 securities and submit them primarily to a third-party valuation service provider. Any of these securities not valued by this service provider are submitted to another third-party valuation service provider. Both service providers use a market approach to find pricing of similar financial instruments. The market inputs our service providers normally seek to value our securities include the following, listed in approximate order of priority: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications. The method and inputs for these securities classified as Level 2 are the same regardless of industry category, credit quality, duration, geographical concentration or economic characteristics. For our mortgage-backed securities, collateralized mortgage obligations and asset-backed securities, our service providers use additional market inputs to value these securities, including the following: new issue data, periodic payment information, monthly payment information, collateral performance and real estate analysis from third parties. Our service providers prioritize inputs based on market conditions, and not all inputs listed are available for use in the valuation process for each security on any given day. At least annually, we review the methodologies and assumptions used by our valuation service providers and verify that they are reasonable and representative of the fair value of the underlying securities held in the investment portfolio. We validate the prices obtained from independent pricing services and brokers prior to their use for reporting purposes by evaluating their reasonableness on a monthly basis. In addition, on a quarterly basis, we also test all securities in the portfolio and independently corroborate the valuations obtained from our third-party valuation service providers. Quarterly, we also perform deep dive analyses of the pricing method used by our third-party valuation service provider by selecting a random sample of securities by asset class and reviewing methodologies. In our opinion, the pricing obtained at March 31, 2023 and December 31, 2022 was reasonable. For the three-month period ended March 31, 2023, the change in our available-for-sale securities categorized as Level 1 and Level 2 is the result of investment purchases that were made using funds held in our money market accounts, disposals and the change in unrealized gains on both fixed maturities and equity securities.
Earnings Per Common Share	Basic earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per share gives effect to all dilutive common shares outstanding during the reporting period. The dilutive shares we consider in our diluted earnings per share calculation relate to our outstanding stock options, restricted stock awards and restricted stock unit awards. We determine the dilutive effect of our outstanding stock options using the "treasury stock" method. Under this method, we assume the exercise of all of the outstanding stock options whose exercise price is less than the weighted-average market value of our common stock during the reporting period. This method also assumes that the proceeds from the hypothetical stock option exercises are used to repurchase shares of our common stock at the

Nature of Operations and Basi_3

Nature of Operations and Basis of Presentation (Tables)	3 Months Ended
Nature of Operations and Basis of Presentation (Tables)	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Components of Deferred Acquisition Costs	The following table is a summary of the components of DAC, including the related amortization recognized for the three-month period ended March 31, 2023. Total Recorded asset at beginning of period $ 104,225 Underwriting costs deferred 63,099 Amortization of deferred policy acquisition costs (59,835) Recorded asset at March 31, 2023 $ 107,489
Schedule of Rollforward of Credit Loss Allowance for Reinsurance Receivable	Rollforward of credit loss allowance for reinsurance receivables: As of March 31, 2023 Beginning balance, January 1, 2023 $ 82 Recoveries of amounts previously written off, if any 12 Ending balance of the allowance for reinsurance receivables, March 31, 2023 $ 94

Summary of Investments (Tables)

Summary of Investments (Tables)	3 Months Ended
Summary of Investments (Tables)	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Fair Value of Investments	A reconciliation of the amortized cost to fair value of investments in available-for-sale fixed maturity, presented on a consolidated basis, as of March 31, 2023 and December 31, 2022, is provided below: March 31, 2023 Type of Investment Cost or Amortized Cost Gross Unrealized Appreciation Gross Unrealized Depreciation Fair Value Allowance for Credit Losses Carrying Value AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury $ 15,635 $ 10 $ 829 $ 14,816 $ — $ 14,816 U.S. government agency 91,069 17 8,938 82,148 — 82,148 States, municipalities and political subdivisions General obligations: Midwest 58,832 213 157 58,888 — 58,888 Northeast 11,475 25 24 11,476 — 11,476 South 63,842 130 501 63,471 — 63,471 West 86,916 183 389 86,710 — 86,710 Special revenue: Midwest 102,938 472 400 103,010 — 103,010 Northeast 55,161 166 713 54,614 — 54,614 South 180,683 561 2,279 178,965 — 178,965 West 113,332 401 831 112,902 — 112,902 Foreign bonds 38,119 — 3,818 34,301 — 34,301 Public utilities 146,966 260 11,515 135,711 — 135,711 Corporate bonds Energy 36,614 — 2,188 34,426 — 34,426 Industrials 63,760 267 4,628 59,399 — 59,399 Consumer goods and services 100,455 54 8,757 91,752 — 91,752 Health care 34,960 124 4,587 30,497 — 30,497 Technology, media and telecommunications 69,144 21 5,869 63,296 — 63,296 Financial services 135,098 637 9,356 126,379 179 126,200 Mortgage-backed securities 25,959 — 2,425 23,534 — 23,534 Collateralized mortgage obligations Government national mortgage association 102,127 12 12,636 89,503 — 89,503 Federal home loan mortgage corporation 93,395 43 11,984 81,454 — 81,454 Federal national mortgage association 53,846 152 4,227 49,771 — 49,771 Asset-backed securities 3,923 512 110 4,325 — 4,325 Total Available-for-Sale Fixed Maturities $ 1,684,249 $ 4,260 $ 97,161 $ 1,591,348 $ 179 $ 1,591,169 December 31, 2022 Type of Investment Cost or Amortized Cost Gross Unrealized Appreciation Gross Unrealized Depreciation Fair Value Allowance for Credit Losses Carrying Value AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury $ 15,684 $ — $ 1,009 $ 14,675 $ — $ 14,675 U.S. government agency 94,092 35 9,721 84,406 — 84,406 States, municipalities and political subdivisions General obligations: Midwest 61,191 185 263 61,113 — 61,113 Northeast 15,518 18 73 15,463 — 15,463 South 64,851 57 927 63,981 — 63,981 West 87,094 163 712 86,545 — 86,545 Special revenue: Midwest 103,107 224 1,065 102,266 — 102,266 Northeast 55,292 76 1,148 54,220 — 54,220 South 184,108 278 3,529 180,857 — 180,857 West 113,594 275 1,657 112,212 — 112,212 Foreign bonds 36,129 — 4,480 31,649 — 31,649 Public utilities 138,752 65 13,406 125,411 — 125,411 Corporate bonds Energy 36,507 — 3,298 33,209 — 33,209 Industrials 58,334 62 5,554 52,842 — 52,842 Consumer goods and services 100,539 — 10,598 89,941 — 89,941 Health care 32,987 24 5,419 27,592 — 27,592 Technology, media and telecommunications 67,193 — 7,253 59,940 — 59,940 Financial services 132,849 851 9,408 124,292 3 124,289 Mortgage-backed securities 20,450 — 2,750 17,700 — 17,700 Collateralized mortgage obligations Government national mortgage association 97,839 — 13,291 84,548 — 84,548 Federal home loan mortgage corporation 92,366 — 13,528 78,838 — 78,838 Federal national mortgage association 50,272 5 4,891 45,386 — 45,386 Asset-backed securities 3,932 466 145 4,253 — 4,253 Total Available-for-Sale Fixed Maturities $ 1,662,680 $ 2,784 $ 114,125 $ 1,551,339 $ 3 $ 1,551,336
Schedule of Maturities	The amortized cost and fair value of available-for-sale fixed maturity securities at March 31, 2023, by contractual maturity, are shown in the following tables. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Asset-backed securities, mortgage-backed securities and collateralized mortgage obligations may be subject to prepayment risk and are therefore not categorized by contractual maturity. Maturities Available-For-Sale March 31, 2023 Amortized Cost Fair Value Due in one year or less $ 41,386 $ 41,220 Due after one year through five years 479,517 467,682 Due after five years through 10 years 545,965 516,102 Due after 10 years 338,131 317,757 Asset-backed securities 3,923 4,325 Mortgage-backed securities 25,959 23,534 Collateralized mortgage obligations 249,368 220,728 $ 1,684,249 $ 1,591,348
Summary of Net Realized Investment Gains and Losses	A summary of the components of net investment gains (losses) is as follows: Three Months Ended March 31, 2023 2022 Net investment gains (losses): Fixed maturities: Available-for-sale $ (178) $ 333 Allowance for credit losses (176) — Equity securities Change in the fair value (1,705) (989) Sales 500 206 Mortgage loans allowance for credit losses — 5 Other long-term investments (186) (20) Total net investment gains (losses) $ (1,745) $ (465)
Schedule of Proceeds and Gross Realized Gains and Losses	The proceeds and gross realized gains (losses) on the sale of available-for-sale fixed maturity securities are as follows: Three Months Ended March 31, 2023 2022 Proceeds from sales $ 9,868 $ — Gross realized gains 11 333 Gross realized losses 189 —
Schedule of Unrealized Investment Appreciation and Depreciation	A summary of the changes in net unrealized investment appreciation during the reporting period is as follows: Three Months Ended March 31, 2023 2022 Change in net unrealized investment appreciation (depreciation) Available-for-sale fixed maturities $ 18,544 $ (83,283) Income tax effect (3,894) 17,490 Total change in net unrealized investment appreciation (depreciation), net of tax $ 14,650 $ (65,793)
Schedule of Rollforward of Allowance for Credit Losses for Available-for-Sale Fixed Maturity Securities	The following table contains a rollforward of the allowance for credit losses for available-for-sale fixed maturity securities at March 31, 2023. Rollforward of allowance for credit losses for available-for-sale fixed maturity securities: As of March 31, 2023 Beginning balance, January 1, 2023 $ 3 Additions to the allowance for credit losses for which credit losses were not previously recorded 176 Ending balance, March 31, 2023 $ 179
Summary of Fixed Maturity Securities in an Unrealized Loss Position	The following tables summarize our fixed maturity securities that were in an unrealized loss position reported on a consolidated basis at March 31, 2023 and December 31, 2022. The securities are presented by the length of time they have been continuously in an unrealized loss position. Non-credit related unrealized losses are recognized as a component of other comprehensive income and represent other market movements that are not credit related, for example interest rate changes. We have no intent to sell, and it is more likely than not that we will not be required to sell, these securities until the fair value recovers to at least equal our cost basis or the securities mature. March 31, 2023 Less than 12 months 12 months or longer Total Type of Investment Number Fair Gross Unrealized Number Fair Gross Unrealized Depreciation Fair Gross Unrealized Depreciation AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury — $ — $ — 6 $ 12,633 $ 829 $ 12,633 $ 829 U.S. government agency 14 42,728 2,554 12 36,407 6,384 79,135 8,938 States, municipalities and political subdivisions General obligations Midwest 8 12,164 96 1 7,779 61 19,943 157 Northeast 1 3,499 24 — — — 3,499 24 South 12 25,768 351 4 10,864 150 36,632 501 West 18 39,985 284 1 7,248 105 47,233 389 Special revenue Midwest 17 36,384 312 2 3,627 88 40,011 400 Northeast 8 23,746 236 4 12,001 477 35,747 713 South 41 85,197 1,481 10 18,098 798 103,295 2,279 West 26 53,685 646 6 11,776 185 65,461 831 Foreign bonds 7 18,236 1,033 7 16,065 2,785 34,301 3,818 Public utilities 24 57,437 2,288 31 65,964 9,227 123,401 11,515 Corporate bonds Energy 13 27,485 788 2 6,941 1,400 34,426 2,188 Industrials 10 26,075 626 12 20,941 4,002 47,016 4,628 Consumer goods and services 19 52,538 1,651 14 33,182 7,106 85,720 8,757 Health care 4 9,101 222 7 17,455 4,365 26,556 4,587 Technology, media and telecommunications 17 36,541 953 11 23,737 4,916 60,278 5,869 Financial services 30 72,896 3,847 16 41,551 5,509 114,447 9,356 Mortgage-backed securities 26 7,058 67 26 16,475 2,358 23,533 2,425 Collateralized mortgage obligations Government National Mortgage Association 9 16,349 673 33 70,165 11,963 86,514 12,636 Federal Home Loan Mortgage Corporation 7 11,325 2,024 31 67,104 9,960 78,429 11,984 Federal National Mortgage Association 6 10,479 220 14 29,668 4,007 40,147 4,227 Asset-backed securities 1 3,475 110 — — — 3,475 110 Total Available-for-Sale Fixed Maturities 318 $ 672,151 $ 20,486 250 $ 529,681 $ 76,675 $ 1,201,832 $ 97,161 December 31, 2022 Less than 12 months 12 months or longer Total Type of Investment Number Fair Gross Unrealized Depreciation Number Fair Gross Unrealized Depreciation Fair Gross Unrealized Depreciation AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury 4 $ 6,656 $ 212 4 $ 8,019 $ 797 $ 14,675 $ 1,009 U.S. government agency 24 70,158 5,606 3 11,242 4,115 81,400 9,721 States, municipalities and political subdivisions General obligations Midwest 16 29,089 263 — — — 29,089 263 Northeast 4 8,576 73 — — — 8,576 73 South 24 48,235 927 — — — 48,235 927 West 27 62,652 711 — — — 62,652 711 Special revenue Midwest 35 67,101 1,065 — — — 67,101 1,065 Northeast 14 37,484 1,148 — — — 37,484 1,148 South 58 126,388 3,124 1 866 405 127,254 3,529 West 39 83,622 1,658 — — — 83,622 1,658 Foreign bonds 9 21,377 1,861 5 10,272 2,619 31,649 4,480 Public utilities 45 101,867 8,737 9 19,979 4,669 121,846 13,406 Corporate bonds Energy 15 28,612 1,930 1 4,597 1,368 33,209 3,298 Industrials 21 43,639 3,542 4 7,049 2,012 50,688 5,554 Consumer goods and services 28 69,320 4,440 7 20,620 6,157 89,940 10,597 Health care 5 9,829 487 6 15,928 4,933 25,757 5,420 Technology, media and telecommunications 23 49,970 3,279 5 9,970 3,974 59,940 7,253 Financial services 40 101,411 6,997 5 11,236 2,208 112,647 9,205 Mortgage-backed securities 38 7,909 1,056 12 9,791 1,693 17,700 2,749 Collateralized mortgage obligations Government National Mortgage Association 29 48,898 4,500 12 35,650 8,791 84,548 13,291 Federal Home Loan Mortgage Corporation 21 35,456 5,629 19 43,383 7,900 78,839 13,529 Federal National Mortgage Association 14 24,146 1,281 7 16,674 3,611 40,820 4,892 Asset-backed securities 1 3,452 145 — — — 3,452 145 Total Available-for-Sale Fixed Maturities 534 $ 1,085,847 $ 58,671 100 $ 225,276 $ 55,252 $ 1,311,123 $ 113,923

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
Fair Value of Financial Instruments (Tables)	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Summary of Carrying Value and Estimated Fair Value of Financial Instruments	A summary of the carrying value and estimated fair value of our financial instruments at March 31, 2023 and December 31, 2022 is as follows: March 31, 2023 December 31, 2022 Fair Value Carrying Value Fair Value Carrying Value Assets Investments Fixed maturities: Available-for-sale securities $ 1,591,348 $ 1,591,169 $ 1,551,339 $ 1,551,336 Equity securities 159,378 159,378 169,106 169,106 Mortgage loans 35,240 37,863 35,302 37,898 Other long-term investments 91,003 91,003 86,276 86,276 Short-term investments 275 275 275 275 Cash and cash equivalents 53,230 53,230 96,650 96,650 Corporate-owned life insurance 11,568 11,568 10,588 10,588 Liabilities Long Term Debt 37,696 50,000 36,168 50,000
Summary of Financial Instruments Measured at Fair Value on Recurring Basis	The following tables present the categorization for our financial instruments measured at fair value on a recurring basis. The table includes financial instruments at March 31, 2023 and December 31, 2022: March 31, 2023 Fair Value Measurements Description Total Level 1 Level 2 Level 3 AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury $ 14,816 $ — $ 14,816 $ — U.S. government agency 82,148 — 82,148 — States, municipalities and political subdivisions General obligations Midwest 58,888 — 58,888 — Northeast 11,476 — 11,476 — South 63,471 — 63,471 — West 86,710 — 86,710 — Special revenue Midwest 103,010 — 103,010 — Northeast 54,614 — 54,614 — South 178,965 — 178,965 — West 112,902 — 112,902 — Foreign bonds 34,301 — 34,301 — Public utilities 135,711 — 135,711 — Corporate bonds Energy 34,426 — 34,426 — Industrials 59,399 — 59,399 — Consumer goods and services 91,752 — 91,752 — Health care 30,497 — 30,497 — Technology, media and telecommunications 63,296 — 63,296 — Financial services 126,379 — 120,966 5,413 Mortgage-backed securities 23,534 — 23,534 — Collateralized mortgage obligations Government national mortgage association 89,503 — 89,503 — Federal home loan mortgage corporation 81,454 — 81,454 — Federal national mortgage association 49,771 — 49,771 — Asset-backed securities 4,325 — 3,474 851 Total Available-for-Sale Fixed Maturities $ 1,591,348 $ — $ 1,585,084 $ 6,264 EQUITY SECURITIES Common stocks Public utilities $ 14,200 $ 14,200 $ — $ — Energy 19,812 19,812 — — Industrials 28,536 28,536 — — Consumer goods and services 37,262 37,262 — — Health care 7,585 7,585 — — Technology, media and telecommunications 27,290 27,290 — — Financial services 24,693 24,693 — — Total Equity Securities $ 159,378 $ 159,378 $ — $ — Short-Term Investments $ 275 $ 275 $ — $ — Money Market Accounts $ 17,962 $ 17,962 $ — $ — Corporate-Owned Life Insurance $ 11,568 $ — $ 11,568 $ — Total Assets Measured at Fair Value $ 1,780,531 $ 177,615 $ 1,596,652 $ 6,264 December 31, 2022 Fair Value Measurements Description Total Level 1 Level 2 Level 3 AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury $ 14,675 $ — $ 14,675 $ — U.S. government agency 84,406 — 84,406 — States, municipalities and political subdivisions General obligations Midwest 61,113 — 61,113 — Northeast 15,463 — 15,463 — South 63,981 — 63,981 — West 86,545 — 86,545 — Special revenue Midwest 102,266 — 102,266 — Northeast 54,220 — 54,220 — South 180,857 — 180,857 — West 112,212 — 112,212 — Foreign bonds 31,649 — 31,649 — Public utilities 125,411 — 125,411 — Corporate bonds Energy 33,209 — 33,209 — Industrials 52,842 — 52,842 — Consumer goods and services 89,941 — 89,941 — Health care 27,592 — 27,592 — Technology, media and telecommunications 59,940 — 59,940 — Financial services 124,292 — 118,617 5,675 Mortgage-backed securities 17,700 — 17,700 — Collateralized mortgage obligations Government national mortgage association 84,548 — 84,548 — Federal home loan mortgage corporation 78,838 — 78,838 — Federal national mortgage association 45,386 — 45,386 — Asset-backed securities 4,253 — 3,452 801 Total Available-for-Sale Fixed Maturities $ 1,551,339 $ — $ 1,544,863 $ 6,476 EQUITY SECURITIES Common stocks Public utilities $ 14,846 $ 14,846 $ — $ — Energy 19,743 19,743 — — Industrials 27,163 27,163 — — Consumer goods and services 43,139 43,139 — — Health care 7,981 7,981 — — Technology, media and telecommunications 28,213 28,213 — — Financial services 28,021 28,021 — — Total Equity Securities $ 169,106 $ 169,106 $ — $ — Short-Term Investments $ 275 $ 275 $ — $ — Money Market Accounts $ 31,289 $ 31,289 $ — $ — Corporate-Owned Life Insurance $ 10,588 $ — $ 10,588 $ — Total Assets Measured at Fair Value $ 1,762,597 $ 200,670 $ 1,555,451 $ 6,476
Summary of Quantitative Information About Level 3 Fair Value Measurements	The following table provides quantitative information about our Level 3 securities at March 31, 2023: Quantitative Information about Level 3 Fair Value Measurements Fair Value at Valuation Technique(s) Unobservable inputs Range of weighted average significant unobservable inputs March 31, 2023 Fixed Maturities corporate $ 5,413 Discounted cash flow Discount Rates 3.5% - 7.5% Fixed Maturities asset-backed securities 851 Discounted cash flow Probability of default 4% - 6%
Changes in Fair Value of Level 3 Securities	The following table provides a summary of the changes in fair value of our Level 3 securities for the three-month period ended March 31, 2023: Corporate bonds Asset-backed securities Equities Total Beginning Balance at January 1, 2023 $ 5,675 $ 801 $ — $ 6,476 Net unrealized gains (losses) (1) (262) 50 — (212) Ending Balance at March 31, 2023 $ 5,413 $ 851 $ — $ 6,264 (1) Net unrealized gains (losses) are recorded as a component of comprehensive income.
Summary of Carrying Value of Commercial Mortgage Loans by Loan-to-Value Ratio	The following tables present the carrying value of our commercial mortgage loans and additional information at March 31, 2023 and December 31, 2022: Commercial Mortgage Loans March 31, 2023 December 31, 2022 Loan-to-value Carrying Value Carrying Value Less than 65% $ 29,113 $ 29,231 65%-75% 8,799 8,716 Total amortized cost $ 37,912 $ 37,947 Allowance for mortgage loan losses (49) (49) Mortgage loans, net $ 37,863 $ 37,898 Mortgage Loans by Region March 31, 2023 December 31, 2022 Carrying Value Percent of Total Carrying Value Percent of Total East North Central $ 3,245 8.6 % $ 3,245 8.6 % Southern Atlantic 9,351 24.6 9,397 24.7 East South Central 7,719 20.3 7,783 20.5 New England 6,588 17.4 6,588 17.4 Middle Atlantic 6,100 16.1 6,139 16.2 Mountain 1,992 5.3 1,992 5.2 West North Central 2,917 7.7 2,803 7.4 Total mortgage loans at amortized cost $ 37,912 100.0 % $ 37,947 100.0 % Mortgage Loans by Property Type March 31, 2023 December 31, 2022 Carrying Value Percent of Total Carrying Value Percent of Total Commercial Multifamily $ 8,593 22.7 % $ 8,493 22.4 % Office 11,189 29.4 11,267 29.7 Industrial 10,038 26.5 10,056 26.5 Retail 1,992 5.3 1,992 5.2 Mixed use/Other 6,100 16.1 6,139 16.2 Total mortgage loans at amortized cost $ 37,912 100.0 % $ 37,947 100.0 %
Summary of Amortized Cost Basis by Year of Origination and Credit Quality Indicator	Amortized Cost Basis by Year of Origination and Credit Quality Indicator 2023 2022 2020 2019 2018 Total Commercial mortgage loans: Risk Rating: 1-2 internal grade $ 128 $ 101 5,350 $ 7,959 $ 17,786 $ 31,324 3-4 internal grade — — — — 6,588 6,588 5 internal grade — — — — — — 6 internal grade — — — — — — 7 internal grade — — — — — — Total commercial mortgage loans $ 128 $ 101 $ 5,350 $ 7,959 $ 24,374 $ 37,912 Current-period write-offs — — — — — — Current-period recoveries — — — — — — Current-period net write-offs $ — $ — $ — $ — $ — $ —
Summary of Rollforward of Allowance for Mortgage Loan Losses	As of March 31, 2023, the Company had an allowance for mortgage loan losses of $49, summarized in the following rollforward: Rollforward of allowance for mortgage loan losses: As of March 31, 2023 Beginning balance, January 1, 2023 $ 49 Current-period provision for expected credit losses — Ending balance of the allowance for mortgage loan losses, March 31, 2023 $ 49

Reserves for Losses and Loss _2

Reserves for Losses and Loss Settlement Expenses (Tables)	3 Months Ended
Reserves for Losses and Loss Settlement Expenses (Tables)	Mar. 31, 2023
Insurance Loss Reserves [Abstract]
Summary of Changes in Property and Casualty Losses and Loss Settlement Expense Reserves	The following table provides an analysis of changes in our property and casualty losses and loss settlement expense reserves at March 31, 2023 and December 31, 2022 (net of reinsurance amounts): March 31, 2023 December 31, 2022 Gross liability for losses and loss settlement expenses $ 1,497,274 $ 1,514,265 Ceded losses and loss settlement expenses (146,875) (112,900) Net liability for losses and loss settlement expenses $ 1,350,399 $ 1,401,365 Losses and loss settlement expenses incurred Current year $ 170,534 $ 624,411 Prior years 4,063 12,890 Total incurred $ 174,597 $ 637,301 Losses and loss settlement expense payments Current year $ 16,401 $ 215,891 Prior years 145,831 472,377 Total paid $ 162,232 $ 688,268 Net liability for losses and loss settlement expenses $ 1,362,764 $ 1,350,399 Ceded losses and loss settlement expenses 136,627 146,875 Gross liability for losses and loss settlement expenses $ 1,499,391 $ 1,497,274

Employee Benefits (Tables)

Employee Benefits (Tables)	3 Months Ended
Employee Benefits (Tables)	Mar. 31, 2023
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost	The components of the net periodic benefit cost for our pension and postretirement benefit plans are as follows: Pension Plan Postretirement Benefit Plan Three Months Ended March 31, 2023 2022 2023 2022 Net periodic benefit cost Service cost $ 954 $ 1,120 $ — $ — Interest cost 2,526 1,933 — 1 Expected return on plan assets (3,756) (4,723) — — Amortization of prior service credit (820) (820) — (3,771) Amortization of net loss 52 194 — 706 Net periodic benefit cost $ (1,044) $ (2,296) $ — $ (3,064)

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
Stock-Based Compensation (Tables)	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Activity in Stock Award Plans	The activity in the Stock Plan is displayed in the following table: Authorized Shares Available for Future Award Grants Three Months Ended March 31, 2023 From Inception to March 31, 2023 Beginning balance 1,342,119 1,900,000 Additional shares authorized — 2,150,000 Number of awards granted (250,897) (3,873,038) Number of awards forfeited or expired 20,894 935,154 Ending balance 1,112,116 1,112,116 Number of option awards exercised 4,000 1,537,336 Number of unrestricted stock awards granted — 10,090 Number of restricted stock awards vested 15,257 283,102 The activity in the Director Stock Plan is displayed in the following table: Authorized Shares Available for Future Award Grants Three Months Ended March 31, 2023 From Inception to March 31, 2023 Beginning balance 123,397 300,000 Additional authorization — 150,000 Number of awards granted — (355,238) Number of awards forfeited or expired — 28,635 Ending balance 123,397 123,397 Number of option awards exercised 1,755 152,336 Number of restricted stock awards vested — 117,001
Remaining Stock-Based Compensation Expense	We expect this compensation to be recognized over the remainder of 2023 and subsequent years according to the table below, except with respect to awards that are accelerated by the Board of Directors, in which case we will recognize any remaining compensation expense in the period in which the awards are accelerated. 2023 $ 2,477 2024 2,826 2025 1,626 2026 197 2027 — Total $ 7,126

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	3 Months Ended
Earnings Per Common Share (Tables)	Mar. 31, 2023
Earnings Per Share [Abstract]
Components of Basic and Diluted Earnings Per Share	The components of basic and diluted earnings per share were as follows for the three-month periods ended March 31, 2023 and 2022: Three Months Ended March 31, (In Thousands, Except Share Data) 2023 2022 Basic Diluted Basic Diluted Net income (loss) $ 694 $ 694 $ 28,349 $ 28,349 Weighted-average common shares outstanding 25,220,437 25,220,437 25,100,885 25,100,885 Add dilutive effect of restricted stock unit awards — 279,678 — 222,220 Add dilutive effect of stock options — — — — Weighted-average common shares outstanding 25,220,437 25,500,115 25,100,885 25,323,105 Earnings (loss) per common share $ 0.03 $ 0.03 $ 1.13 $ 1.12 Awards excluded from diluted earnings per share calculation (1) — 737,629 — 822,375 (1) Outstanding awards that are not "in-the-money" are excluded from the diluted earnings per share calculation because the effect of including them would have been anti-dilutive.

Debt (Tables)

Debt (Tables)	3 Months Ended
Debt (Tables)	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Interest Payments	The interest rate will equal the rate that corresponds to the A.M. Best Co. (or its successor’s) financial strength rating for members of the United Fire & Casualty Pooled Group as of the applicable Interest Payment Date, as set forth in the table below. For the three-month period ended March 31, 2023, interest expense totaled $797. Payment of interest is subject to approval by the Iowa Insurance Division. A.M. Best Co. Financial Strength Rating Applicable Interest Rate A+ 5.875% A 6.375% A- 6.875% B++ (or lower) 7.375%

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
Accumulated Other Comprehensive Income (Loss) (Tables)	Mar. 31, 2023
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table shows the changes in the components of our accumulated other comprehensive income (loss), net of tax, for the three-month period ended March 31, 2023: Liability for Net unrealized underfunded appreciation employee on investments benefit costs (1) Total Balance as of January 1, 2023 (88,369) 873 $ (87,496) Change in accumulated other comprehensive income (loss) before reclassifications 14,223 (648) 13,575 Reclassification adjustments from accumulated other comprehensive income (loss) 427 41 468 Balance as of March 31, 2023 $ (73,719) $ 266 $ (73,453)

Leases (Tables)

Leases (Tables)	3 Months Ended
Leases (Tables)	Mar. 31, 2023
Leases [Abstract]
Components of Operating Leases	The components of our operating leases were as follows for the three-month periods ended March 31, 2023 and 2022: Three Months Ended March 31, 2023 2022 Components of lease expense: Operating lease expense $ 2,188 $ 2,177 Less sublease income 167 53 Net lease expense 2,021 2,124 Cash flows information related to leases: Operating cash outflow from operating leases 2,052 2,143

Nature of Operations and Basi_4

Nature of Operations and Basis of Presentation - Segment Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) segment state
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of states in which we are licensed as insurer \| state	50
Number of reportable segments \| segment	1
Cash on deposit with Lloyd's of London \| $	$ 23,661

Nature of Operations and Basi_5

Nature of Operations and Basis of Presentation - Deferred Policy Acquisition Costs (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Recorded asset at beginning of period	$ 104,225
Underwriting costs deferred	63,099
Amortization of deferred policy acquisition costs	(59,835)
Recorded asset at ending of period	$ 107,489

Nature of Operations and Basi_6

Nature of Operations and Basis of Presentation - Goodwill and Other Intangible Assets (Details)	3 Months Ended
	Mar. 31, 2023
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Useful life	2 years
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Useful life	15 years

Nature of Operations and Basi_7

Nature of Operations and Basis of Presentation - Long Term Debt (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 15, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Interest expense	$ 797,000	$ 797,000
Surplus Notes
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Principal amount			$ 50,000,000
Surplus Notes \| Federated Mutual
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Principal amount			35,000,000
Surplus Notes \| Federated Life
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Principal amount			$ 15,000,000

Nature of Operations and Basi_8

Nature of Operations and Basis of Presentation - Income Taxes (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Federal income tax expense (benefit)	$ (695,000)	$ 6,377,000
Liability for unrecognized tax benefits	0		$ 0
Valuation allowance	0		$ 0
Income taxes paid	12,000	0
Federal tax refund received	$ 0	$ 10,000,000

Nature of Operations and Basi_9

Nature of Operations and Basis of Presentation - Variable Interest Entities (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) variable_interest_entity	Dec. 31, 2022 USD ($)
Variable Interest Entity [Line Items]
Number of variable interest entities \| variable_interest_entity	1
Fair value of VIE	$ 2,898,403	$ 2,882,286
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Fair value of VIE	$ 2,998

Nature of Operations and Bas_10

Nature of Operations and Basis of Presentation - Credit Losses (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Credit loss allowance for reinsurance receivables	$ 94	$ 82

Nature of Operations and Bas_11

Nature of Operations and Basis of Presentation - Rollforward of Credit Loss Allowance for Reinsurance Receivable (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Reinsurance Recoverable, Allowance for Credit Loss [Roll Forward]
Beginning balance, January 1, 2023	$ 82
Recoveries of amounts previously written off, if any	12
Ending balance of the allowance for reinsurance receivables, March 31, 2023	$ 94

Summary of Investments - Fair V

Summary of Investments - Fair Value of Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fixed maturities:
Cost or Amortized Cost	$ 1,684,249	$ 1,662,680
Gross Unrealized Appreciation	4,260	2,784
Gross Unrealized Depreciation	97,161	114,125
Fair Value	1,591,348	1,551,339
Allowance for Credit Losses	179	3
Carrying Value	1,591,169	1,551,336
U.S. Treasury
Fixed maturities:
Cost or Amortized Cost	15,635	15,684
Gross Unrealized Appreciation	10	0
Gross Unrealized Depreciation	829	1,009
Fair Value	14,816	14,675
Allowance for Credit Losses	0	0
Carrying Value	14,816	14,675
U.S. government agency
Fixed maturities:
Cost or Amortized Cost	91,069	94,092
Gross Unrealized Appreciation	17	35
Gross Unrealized Depreciation	8,938	9,721
Fair Value	82,148	84,406
Allowance for Credit Losses	0	0
Carrying Value	82,148	84,406
General obligations \| Midwest
Fixed maturities:
Cost or Amortized Cost	58,832	61,191
Gross Unrealized Appreciation	213	185
Gross Unrealized Depreciation	157	263
Fair Value	58,888	61,113
Allowance for Credit Losses	0	0
Carrying Value	58,888	61,113
General obligations \| Northeast
Fixed maturities:
Cost or Amortized Cost	11,475	15,518
Gross Unrealized Appreciation	25	18
Gross Unrealized Depreciation	24	73
Fair Value	11,476	15,463
Allowance for Credit Losses	0	0
Carrying Value	11,476	15,463
General obligations \| South
Fixed maturities:
Cost or Amortized Cost	63,842	64,851
Gross Unrealized Appreciation	130	57
Gross Unrealized Depreciation	501	927
Fair Value	63,471	63,981
Allowance for Credit Losses	0	0
Carrying Value	63,471	63,981
General obligations \| West
Fixed maturities:
Cost or Amortized Cost	86,916	87,094
Gross Unrealized Appreciation	183	163
Gross Unrealized Depreciation	389	712
Fair Value	86,710	86,545
Allowance for Credit Losses	0	0
Carrying Value	86,710	86,545
Special revenue \| Midwest
Fixed maturities:
Cost or Amortized Cost	102,938	103,107
Gross Unrealized Appreciation	472	224
Gross Unrealized Depreciation	400	1,065
Fair Value	103,010	102,266
Allowance for Credit Losses	0	0
Carrying Value	103,010	102,266
Special revenue \| Northeast
Fixed maturities:
Cost or Amortized Cost	55,161	55,292
Gross Unrealized Appreciation	166	76
Gross Unrealized Depreciation	713	1,148
Fair Value	54,614	54,220
Allowance for Credit Losses	0	0
Carrying Value	54,614	54,220
Special revenue \| South
Fixed maturities:
Cost or Amortized Cost	180,683	184,108
Gross Unrealized Appreciation	561	278
Gross Unrealized Depreciation	2,279	3,529
Fair Value	178,965	180,857
Allowance for Credit Losses	0	0
Carrying Value	178,965	180,857
Special revenue \| West
Fixed maturities:
Cost or Amortized Cost	113,332	113,594
Gross Unrealized Appreciation	401	275
Gross Unrealized Depreciation	831	1,657
Fair Value	112,902	112,212
Allowance for Credit Losses	0	0
Carrying Value	112,902	112,212
Foreign bonds
Fixed maturities:
Cost or Amortized Cost	38,119	36,129
Gross Unrealized Appreciation	0	0
Gross Unrealized Depreciation	3,818	4,480
Fair Value	34,301	31,649
Allowance for Credit Losses	0	0
Carrying Value	34,301	31,649
Public utilities
Fixed maturities:
Cost or Amortized Cost	146,966	138,752
Gross Unrealized Appreciation	260	65
Gross Unrealized Depreciation	11,515	13,406
Fair Value	135,711	125,411
Allowance for Credit Losses	0	0
Carrying Value	135,711	125,411
Corporate bonds \| Energy
Fixed maturities:
Cost or Amortized Cost	36,614	36,507
Gross Unrealized Appreciation	0	0
Gross Unrealized Depreciation	2,188	3,298
Fair Value	34,426	33,209
Allowance for Credit Losses	0	0
Carrying Value	34,426	33,209
Corporate bonds \| Industrials
Fixed maturities:
Cost or Amortized Cost	63,760	58,334
Gross Unrealized Appreciation	267	62
Gross Unrealized Depreciation	4,628	5,554
Fair Value	59,399	52,842
Allowance for Credit Losses	0	0
Carrying Value	59,399	52,842
Corporate bonds \| Consumer goods and services
Fixed maturities:
Cost or Amortized Cost	100,455	100,539
Gross Unrealized Appreciation	54	0
Gross Unrealized Depreciation	8,757	10,598
Fair Value	91,752	89,941
Allowance for Credit Losses	0	0
Carrying Value	91,752	89,941
Corporate bonds \| Health care
Fixed maturities:
Cost or Amortized Cost	34,960	32,987
Gross Unrealized Appreciation	124	24
Gross Unrealized Depreciation	4,587	5,419
Fair Value	30,497	27,592
Allowance for Credit Losses	0	0
Carrying Value	30,497	27,592
Corporate bonds \| Technology, media and telecommunications
Fixed maturities:
Cost or Amortized Cost	69,144	67,193
Gross Unrealized Appreciation	21	0
Gross Unrealized Depreciation	5,869	7,253
Fair Value	63,296	59,940
Allowance for Credit Losses	0	0
Carrying Value	63,296	59,940
Corporate bonds \| Financial services
Fixed maturities:
Cost or Amortized Cost	135,098	132,849
Gross Unrealized Appreciation	637	851
Gross Unrealized Depreciation	9,356	9,408
Fair Value	126,379	124,292
Allowance for Credit Losses	179	3
Carrying Value	126,200	124,289
Mortgage-backed securities
Fixed maturities:
Cost or Amortized Cost	25,959	20,450
Gross Unrealized Appreciation	0	0
Gross Unrealized Depreciation	2,425	2,750
Fair Value	23,534	17,700
Allowance for Credit Losses	0	0
Carrying Value	23,534	17,700
Collateralized mortgage obligations \| Government national mortgage association
Fixed maturities:
Cost or Amortized Cost	102,127	97,839
Gross Unrealized Appreciation	12	0
Gross Unrealized Depreciation	12,636	13,291
Fair Value	89,503	84,548
Allowance for Credit Losses	0	0
Carrying Value	89,503	84,548
Collateralized mortgage obligations \| Federal home loan mortgage corporation
Fixed maturities:
Cost or Amortized Cost	93,395	92,366
Gross Unrealized Appreciation	43	0
Gross Unrealized Depreciation	11,984	13,528
Fair Value	81,454	78,838
Allowance for Credit Losses	0	0
Carrying Value	81,454	78,838
Collateralized mortgage obligations \| Federal national mortgage association
Fixed maturities:
Cost or Amortized Cost	53,846	50,272
Gross Unrealized Appreciation	152	5
Gross Unrealized Depreciation	4,227	4,891
Fair Value	49,771	45,386
Allowance for Credit Losses	0	0
Carrying Value	49,771	45,386
Asset-backed securities
Fixed maturities:
Cost or Amortized Cost	3,923	3,932
Gross Unrealized Appreciation	512	466
Gross Unrealized Depreciation	110	145
Fair Value	4,325	4,253
Allowance for Credit Losses	0	0
Carrying Value	$ 4,325	$ 4,253

Summary of Investments - Maturi

Summary of Investments - Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Amortized Cost
Due in one year or less	$ 41,386
Due after one year through five years	479,517
Due after five years through 10 years	545,965
Due after 10 years	338,131
Amortized Cost	1,684,249	$ 1,662,680
Fair Value
Due in one year or less	41,220
Due after one year through five years	467,682
Due after five years through 10 years	516,102
Due after 10 years	317,757
Fair Value	1,591,169	1,551,336
Asset-backed securities
Amortized Cost
Securities not categorized by contractual maturity	3,923
Amortized Cost	3,923	3,932
Fair Value
Securities not categorized by contractual maturity	4,325
Fair Value	4,325	4,253
Mortgage-backed securities
Amortized Cost
Securities not categorized by contractual maturity	25,959
Amortized Cost	25,959	20,450
Fair Value
Securities not categorized by contractual maturity	23,534
Fair Value	23,534	$ 17,700
Collateralized mortgage obligations
Amortized Cost
Securities not categorized by contractual maturity	249,368
Fair Value
Securities not categorized by contractual maturity	220,728
Fixed maturities
Amortized Cost
Amortized Cost	1,684,249
Fair Value
Fair Value	$ 1,591,348

Summary of Investments - Net In

Summary of Investments - Net Investment Gains and Losses and Proceeds (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net investment gains (losses):
Available-for-sale	$ (178)	$ 333
Allowance for credit losses	(176)
Allowance for credit losses		0
Mortgage loans allowance for credit losses	0	5
Other long-term investments	(186)	(20)
Total net investment gains (losses)	(1,745)	(465)
Proceeds from sales	9,868	0
Change in the fair value
Net investment gains (losses):
Equity securities	(1,705)	(989)
Sales
Net investment gains (losses):
Equity securities	500	206
Fixed maturities
Net investment gains (losses):
Proceeds from sales	9,868	0
Gross realized gains	11	333
Gross realized losses	$ 189	$ 0

Summary of Investments - Narrat

Summary of Investments - Narrative (Details) $ in Thousands	1 Months Ended
Summary of Investments - Narrative (Details) $ in Thousands	Dec. 31, 2019 USD ($) date	Mar. 31, 2023 USD ($)
Investments, Debt and Equity Securities [Abstract]
Remaining potential contractual obligation		$ 39,958
Investment in limited liability partnership investment fund	$ 25
Lockup period	3 years
Minimum notice period	60 days
Number of possible repurchase dates \| date	4
Investment fair value		$ 24,667

Summary of Investments - Unreal

Summary of Investments - Unrealized Appreciation and Depreciation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Change in net unrealized investment appreciation (depreciation)
Available-for-sale fixed maturities	$ 18,544	$ (83,283)
Income tax effect	(3,894)	17,490
Total change in net unrealized investment appreciation (depreciation), net of tax	$ 14,650	$ (65,793)

Summary of Investments - Rollfo

Summary of Investments - Rollforward of Allowance for Credit Losses for Available-for-Sale Fixed Maturity Securities (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Rollforward of allowance for credit losses for available-for-sale fixed maturity securities:
Beginning balance, January 1, 2023	$ 3
Additions to the allowance for credit losses for which credit losses were not previously recorded	176
Ending balance, March 31, 2023	$ 179

Summary of Investments - Invest

Summary of Investments - Investments in Unrealized Loss Position (Details) $ in Thousands	Mar. 31, 2023 USD ($) issue	Dec. 31, 2022 USD ($) issue
Number of Issues
Less than 12 months \| issue	318	534
12 months or longer \| issue	250	100
Fair Value
Less than 12 months	$ 672,151	$ 1,085,847
12 months or longer	529,681	225,276
Total	1,201,832	1,311,123
Gross Unrealized Depreciation
Less than 12 months	20,486	58,671
12 months or longer	76,675	55,252
Total	$ 97,161	$ 113,923
U.S. Treasury
Number of Issues
Less than 12 months \| issue	0	4
12 months or longer \| issue	6	4
Fair Value
Less than 12 months	$ 0	$ 6,656
12 months or longer	12,633	8,019
Total	12,633	14,675
Gross Unrealized Depreciation
Less than 12 months	0	212
12 months or longer	829	797
Total	$ 829	$ 1,009
U.S. government agency
Number of Issues
Less than 12 months \| issue	14	24
12 months or longer \| issue	12	3
Fair Value
Less than 12 months	$ 42,728	$ 70,158
12 months or longer	36,407	11,242
Total	79,135	81,400
Gross Unrealized Depreciation
Less than 12 months	2,554	5,606
12 months or longer	6,384	4,115
Total	$ 8,938	$ 9,721
General obligations \| Midwest
Number of Issues
Less than 12 months \| issue	8	16
12 months or longer \| issue	1	0
Fair Value
Less than 12 months	$ 12,164	$ 29,089
12 months or longer	7,779	0
Total	19,943	29,089
Gross Unrealized Depreciation
Less than 12 months	96	263
12 months or longer	61	0
Total	$ 157	$ 263
General obligations \| Northeast
Number of Issues
Less than 12 months \| issue	1	4
12 months or longer \| issue	0	0
Fair Value
Less than 12 months	$ 3,499	$ 8,576
12 months or longer	0	0
Total	3,499	8,576
Gross Unrealized Depreciation
Less than 12 months	24	73
12 months or longer	0	0
Total	$ 24	$ 73
General obligations \| South
Number of Issues
Less than 12 months \| issue	12	24
12 months or longer \| issue	4	0
Fair Value
Less than 12 months	$ 25,768	$ 48,235
12 months or longer	10,864	0
Total	36,632	48,235
Gross Unrealized Depreciation
Less than 12 months	351	927
12 months or longer	150	0
Total	$ 501	$ 927
General obligations \| West
Number of Issues
Less than 12 months \| issue	18	27
12 months or longer \| issue	1	0
Fair Value
Less than 12 months	$ 39,985	$ 62,652
12 months or longer	7,248	0
Total	47,233	62,652
Gross Unrealized Depreciation
Less than 12 months	284	711
12 months or longer	105	0
Total	$ 389	$ 711
Special revenue \| Midwest
Number of Issues
Less than 12 months \| issue	17	35
12 months or longer \| issue	2	0
Fair Value
Less than 12 months	$ 36,384	$ 67,101
12 months or longer	3,627	0
Total	40,011	67,101
Gross Unrealized Depreciation
Less than 12 months	312	1,065
12 months or longer	88	0
Total	$ 400	$ 1,065
Special revenue \| Northeast
Number of Issues
Less than 12 months \| issue	8	14
12 months or longer \| issue	4	0
Fair Value
Less than 12 months	$ 23,746	$ 37,484
12 months or longer	12,001	0
Total	35,747	37,484
Gross Unrealized Depreciation
Less than 12 months	236	1,148
12 months or longer	477	0
Total	$ 713	$ 1,148
Special revenue \| South
Number of Issues
Less than 12 months \| issue	41	58
12 months or longer \| issue	10	1
Fair Value
Less than 12 months	$ 85,197	$ 126,388
12 months or longer	18,098	866
Total	103,295	127,254
Gross Unrealized Depreciation
Less than 12 months	1,481	3,124
12 months or longer	798	405
Total	$ 2,279	$ 3,529
Special revenue \| West
Number of Issues
Less than 12 months \| issue	26	39
12 months or longer \| issue	6	0
Fair Value
Less than 12 months	$ 53,685	$ 83,622
12 months or longer	11,776	0
Total	65,461	83,622
Gross Unrealized Depreciation
Less than 12 months	646	1,658
12 months or longer	185	0
Total	$ 831	$ 1,658
Foreign bonds
Number of Issues
Less than 12 months \| issue	7	9
12 months or longer \| issue	7	5
Fair Value
Less than 12 months	$ 18,236	$ 21,377
12 months or longer	16,065	10,272
Total	34,301	31,649
Gross Unrealized Depreciation
Less than 12 months	1,033	1,861
12 months or longer	2,785	2,619
Total	$ 3,818	$ 4,480
Public utilities
Number of Issues
Less than 12 months \| issue	24	45
12 months or longer \| issue	31	9
Fair Value
Less than 12 months	$ 57,437	$ 101,867
12 months or longer	65,964	19,979
Total	123,401	121,846
Gross Unrealized Depreciation
Less than 12 months	2,288	8,737
12 months or longer	9,227	4,669
Total	$ 11,515	$ 13,406
Corporate bonds \| Energy
Number of Issues
Less than 12 months \| issue	13	15
12 months or longer \| issue	2	1
Fair Value
Less than 12 months	$ 27,485	$ 28,612
12 months or longer	6,941	4,597
Total	34,426	33,209
Gross Unrealized Depreciation
Less than 12 months	788	1,930
12 months or longer	1,400	1,368
Total	$ 2,188	$ 3,298
Corporate bonds \| Industrials
Number of Issues
Less than 12 months \| issue	10	21
12 months or longer \| issue	12	4
Fair Value
Less than 12 months	$ 26,075	$ 43,639
12 months or longer	20,941	7,049
Total	47,016	50,688
Gross Unrealized Depreciation
Less than 12 months	626	3,542
12 months or longer	4,002	2,012
Total	$ 4,628	$ 5,554
Corporate bonds \| Consumer goods and services
Number of Issues
Less than 12 months \| issue	19	28
12 months or longer \| issue	14	7
Fair Value
Less than 12 months	$ 52,538	$ 69,320
12 months or longer	33,182	20,620
Total	85,720	89,940
Gross Unrealized Depreciation
Less than 12 months	1,651	4,440
12 months or longer	7,106	6,157
Total	$ 8,757	$ 10,597
Corporate bonds \| Health care
Number of Issues
Less than 12 months \| issue	4	5
12 months or longer \| issue	7	6
Fair Value
Less than 12 months	$ 9,101	$ 9,829
12 months or longer	17,455	15,928
Total	26,556	25,757
Gross Unrealized Depreciation
Less than 12 months	222	487
12 months or longer	4,365	4,933
Total	$ 4,587	$ 5,420
Corporate bonds \| Technology, media and telecommunications
Number of Issues
Less than 12 months \| issue	17	23
12 months or longer \| issue	11	5
Fair Value
Less than 12 months	$ 36,541	$ 49,970
12 months or longer	23,737	9,970
Total	60,278	59,940
Gross Unrealized Depreciation
Less than 12 months	953	3,279
12 months or longer	4,916	3,974
Total	$ 5,869	$ 7,253
Corporate bonds \| Financial services
Number of Issues
Less than 12 months \| issue	30	40
12 months or longer \| issue	16	5
Fair Value
Less than 12 months	$ 72,896	$ 101,411
12 months or longer	41,551	11,236
Total	114,447	112,647
Gross Unrealized Depreciation
Less than 12 months	3,847	6,997
12 months or longer	5,509	2,208
Total	$ 9,356	$ 9,205
Mortgage-backed securities
Number of Issues
Less than 12 months \| issue	26	38
12 months or longer \| issue	26	12
Fair Value
Less than 12 months	$ 7,058	$ 7,909
12 months or longer	16,475	9,791
Total	23,533	17,700
Gross Unrealized Depreciation
Less than 12 months	67	1,056
12 months or longer	2,358	1,693
Total	$ 2,425	$ 2,749
Collateralized mortgage obligations \| Federal home loan mortgage corporation
Number of Issues
Less than 12 months \| issue	9	29
12 months or longer \| issue	33	12
Fair Value
Less than 12 months	$ 16,349	$ 48,898
12 months or longer	70,165	35,650
Total	86,514	84,548
Gross Unrealized Depreciation
Less than 12 months	673	4,500
12 months or longer	11,963	8,791
Total	$ 12,636	$ 13,291
Collateralized mortgage obligations \| Federal national mortgage association
Number of Issues
Less than 12 months \| issue	7	21
12 months or longer \| issue	31	19
Fair Value
Less than 12 months	$ 11,325	$ 35,456
12 months or longer	67,104	43,383
Total	78,429	78,839
Gross Unrealized Depreciation
Less than 12 months	2,024	5,629
12 months or longer	9,960	7,900
Total	$ 11,984	$ 13,529
Collateralized mortgage obligations \| Government national mortgage association
Number of Issues
Less than 12 months \| issue	6	14
12 months or longer \| issue	14	7
Fair Value
Less than 12 months	$ 10,479	$ 24,146
12 months or longer	29,668	16,674
Total	40,147	40,820
Gross Unrealized Depreciation
Less than 12 months	220	1,281
12 months or longer	4,007	3,611
Total	$ 4,227	$ 4,892
Asset-backed securities
Number of Issues
Less than 12 months \| issue	1	1
12 months or longer \| issue	0	0
Fair Value
Less than 12 months	$ 3,475	$ 3,452
12 months or longer	0	0
Total	3,475	3,452
Gross Unrealized Depreciation
Less than 12 months	110	145
12 months or longer	0	0
Total	$ 110	$ 145

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Accrued interest excluded from carrying value	$ 133
Allowance for mortgage loan losses	49	$ 49
Rabbi Trust \| Other Assets \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash surrender value	$ 11,568

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Carrying Value and Estimated Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fixed maturities:
Available-for-sale securities	$ 1,591,169	$ 1,551,336
Equity securities	159,378	169,106
Mortgage loans	37,863	37,898
Fixed maturities
Fixed maturities:
Available-for-sale securities	1,591,348
Fair Value
Fixed maturities:
Equity securities	159,378	169,106
Mortgage loans	35,240	35,302
Other long-term investments	91,003	86,276
Short-term investments	275	275
Cash and cash equivalents	53,230	96,650
Corporate-owned life insurance	11,568	10,588
Liabilities
Long Term Debt	37,696	36,168
Fair Value \| Fixed maturities
Fixed maturities:
Available-for-sale securities	1,591,348	1,551,339
Carrying Value
Fixed maturities:
Equity securities	159,378	169,106
Mortgage loans	37,863	37,898
Other long-term investments	91,003	86,276
Short-term investments	275	275
Cash and cash equivalents	53,230	96,650
Corporate-owned life insurance	11,568	10,588
Liabilities
Long Term Debt	50,000	50,000
Carrying Value \| Fixed maturities
Fixed maturities:
Available-for-sale securities	$ 1,591,169	$ 1,551,336

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Financial Instruments Measured at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	$ 1,591,169	$ 1,551,336
Equity securities	159,378	169,106
U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	14,816	14,675
U.S. government agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	82,148	84,406
General obligations \| Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	58,888	61,113
General obligations \| Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	11,476	15,463
General obligations \| South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	63,471	63,981
General obligations \| West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	86,710	86,545
Special revenue \| Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	103,010	102,266
Special revenue \| Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	54,614	54,220
Special revenue \| South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	178,965	180,857
Special revenue \| West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	112,902	112,212
Foreign bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	34,301	31,649
Public utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	135,711	125,411
Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	23,534	17,700
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	4,325	4,253
Government national mortgage association \| Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	89,503	84,548
Federal home loan mortgage corporation \| Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	81,454	78,838
Federal national mortgage association \| Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	49,771	45,386
Energy \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	34,426	33,209
Industrials \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	59,399	52,842
Consumer goods and services \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	91,752	89,941
Health care \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	30,497	27,592
Technology, media and telecommunications \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	63,296	59,940
Financial services \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	126,200	124,289
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	1,591,348	1,551,339
Equity securities	159,378	169,106
Short-Term Investments	275	275
Money Market Accounts	17,962	31,289
Corporate-Owned Life Insurance	11,568	10,588
Total Assets Measured at Fair Value	1,780,531	1,762,597
Recurring \| U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	14,816	14,675
Recurring \| U.S. government agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	82,148	84,406
Recurring \| General obligations \| Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	58,888	61,113
Recurring \| General obligations \| Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	11,476	15,463
Recurring \| General obligations \| South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	63,471	63,981
Recurring \| General obligations \| West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	86,710	86,545
Recurring \| Special revenue \| Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	103,010	102,266
Recurring \| Special revenue \| Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	54,614	54,220
Recurring \| Special revenue \| South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	178,965	180,857
Recurring \| Special revenue \| West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	112,902	112,212
Recurring \| Foreign bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	34,301	31,649
Recurring \| Public utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	135,711	125,411
Recurring \| Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	23,534	17,700
Recurring \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	4,325	4,253
Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Equity securities	159,378	169,106
Short-Term Investments	275	275
Money Market Accounts	17,962	31,289
Corporate-Owned Life Insurance	0	0
Total Assets Measured at Fair Value	177,615	200,670
Recurring \| Level 1 \| U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Level 1 \| U.S. government agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Level 1 \| General obligations \| Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Level 1 \| General obligations \| Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Level 1 \| General obligations \| South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Level 1 \| General obligations \| West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Level 1 \| Special revenue \| Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Level 1 \| Special revenue \| Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Level 1 \| Special revenue \| South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Level 1 \| Special revenue \| West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Level 1 \| Foreign bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Level 1 \| Public utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Level 1 \| Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Level 1 \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	1,585,084	1,544,863
Equity securities	0	0
Short-Term Investments	0	0
Money Market Accounts	0	0
Corporate-Owned Life Insurance	11,568	10,588
Total Assets Measured at Fair Value	1,596,652	1,555,451
Recurring \| Level 2 \| U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	14,816	14,675
Recurring \| Level 2 \| U.S. government agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	82,148	84,406
Recurring \| Level 2 \| General obligations \| Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	58,888	61,113
Recurring \| Level 2 \| General obligations \| Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	11,476	15,463
Recurring \| Level 2 \| General obligations \| South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	63,471	63,981
Recurring \| Level 2 \| General obligations \| West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	86,710	86,545
Recurring \| Level 2 \| Special revenue \| Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	103,010	102,266
Recurring \| Level 2 \| Special revenue \| Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	54,614	54,220
Recurring \| Level 2 \| Special revenue \| South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	178,965	180,857
Recurring \| Level 2 \| Special revenue \| West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	112,902	112,212
Recurring \| Level 2 \| Foreign bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	34,301	31,649
Recurring \| Level 2 \| Public utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	135,711	125,411
Recurring \| Level 2 \| Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	23,534	17,700
Recurring \| Level 2 \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	3,474	3,452
Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	6,264	6,476
Equity securities	0	0
Short-Term Investments	0	0
Money Market Accounts	0	0
Corporate-Owned Life Insurance	0	0
Total Assets Measured at Fair Value	6,264	6,476
Recurring \| Level 3 \| U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Level 3 \| U.S. government agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Level 3 \| General obligations \| Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Level 3 \| General obligations \| Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Level 3 \| General obligations \| South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Level 3 \| General obligations \| West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Level 3 \| Special revenue \| Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Level 3 \| Special revenue \| Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Level 3 \| Special revenue \| South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Level 3 \| Special revenue \| West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Level 3 \| Foreign bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Level 3 \| Public utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Level 3 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	5,413
Recurring \| Level 3 \| Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Level 3 \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	851	801
Recurring \| Government national mortgage association \| Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	89,503	84,548
Recurring \| Government national mortgage association \| Level 1 \| Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Government national mortgage association \| Level 2 \| Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	89,503	84,548
Recurring \| Government national mortgage association \| Level 3 \| Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Federal home loan mortgage corporation \| Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	81,454	78,838
Recurring \| Federal home loan mortgage corporation \| Level 1 \| Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Federal home loan mortgage corporation \| Level 2 \| Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	81,454	78,838
Recurring \| Federal home loan mortgage corporation \| Level 3 \| Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Federal national mortgage association \| Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	49,771	45,386
Recurring \| Federal national mortgage association \| Level 1 \| Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Federal national mortgage association \| Level 2 \| Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	49,771	45,386
Recurring \| Federal national mortgage association \| Level 3 \| Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Public utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	14,200	14,846
Recurring \| Public utilities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	14,200	14,846
Recurring \| Public utilities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring \| Public utilities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring \| Energy
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	19,812	19,743
Recurring \| Energy \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	34,426	33,209
Recurring \| Energy \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	19,812	19,743
Recurring \| Energy \| Level 1 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Energy \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring \| Energy \| Level 2 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	34,426	33,209
Recurring \| Energy \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring \| Energy \| Level 3 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Industrials
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	28,536	27,163
Recurring \| Industrials \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	59,399	52,842
Recurring \| Industrials \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	28,536	27,163
Recurring \| Industrials \| Level 1 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Industrials \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring \| Industrials \| Level 2 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	59,399	52,842
Recurring \| Industrials \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring \| Industrials \| Level 3 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Consumer goods and services
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	37,262	43,139
Recurring \| Consumer goods and services \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	91,752	89,941
Recurring \| Consumer goods and services \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	37,262	43,139
Recurring \| Consumer goods and services \| Level 1 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Consumer goods and services \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring \| Consumer goods and services \| Level 2 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	91,752	89,941
Recurring \| Consumer goods and services \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring \| Consumer goods and services \| Level 3 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Health care
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	7,585	7,981
Recurring \| Health care \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	30,497	27,592
Recurring \| Health care \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	7,585	7,981
Recurring \| Health care \| Level 1 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Health care \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring \| Health care \| Level 2 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	30,497	27,592
Recurring \| Health care \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring \| Health care \| Level 3 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Technology, media and telecommunications
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	27,290	28,213
Recurring \| Technology, media and telecommunications \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	63,296	59,940
Recurring \| Technology, media and telecommunications \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	27,290	28,213
Recurring \| Technology, media and telecommunications \| Level 1 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Technology, media and telecommunications \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring \| Technology, media and telecommunications \| Level 2 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	63,296	59,940
Recurring \| Technology, media and telecommunications \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring \| Technology, media and telecommunications \| Level 3 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Financial services
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	24,693	28,021
Recurring \| Financial services \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	126,379	124,292
Recurring \| Financial services \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	24,693	28,021
Recurring \| Financial services \| Level 1 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring \| Financial services \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring \| Financial services \| Level 2 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	120,966	118,617
Recurring \| Financial services \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	$ 0	0
Recurring \| Financial services \| Level 3 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		$ 5,675

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Quantitative Information About Level 3 Fair Value Measurements (Details) $ in Thousands	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities	$ 1,591,169	$ 1,551,336
Asset-backed securities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities	4,325	4,253
Recurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities	1,591,348	1,551,339
Recurring \| Asset-backed securities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities	4,325	4,253
Recurring \| Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities	6,264	6,476
Recurring \| Level 3 \| Corporate bonds
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities	$ 5,413
Recurring \| Level 3 \| Corporate bonds \| Discounted cash flow \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities, range of weighted average significant unobservable inputs	0.035
Recurring \| Level 3 \| Corporate bonds \| Discounted cash flow \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities, range of weighted average significant unobservable inputs	0.075
Recurring \| Level 3 \| Asset-backed securities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities	$ 851	$ 801
Recurring \| Level 3 \| Asset-backed securities \| Discounted cash flow \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities, range of weighted average significant unobservable inputs	0.04
Recurring \| Level 3 \| Asset-backed securities \| Discounted cash flow \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities, range of weighted average significant unobservable inputs	0.06

Fair Value of Financial Instr_7

Fair Value of Financial Instruments - Level 3 Securities (Details) - Recurring $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance at January 1, 2023	$ 6,476
Net unrealized gains (losses)	(212)
Ending Balance at March 31, 2023	6,264
Corporate bonds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance at January 1, 2023	5,675
Net unrealized gains (losses)	(262)
Ending Balance at March 31, 2023	5,413
Asset-backed securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance at January 1, 2023	801
Net unrealized gains (losses)	50
Ending Balance at March 31, 2023	851
Equities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance at January 1, 2023	0
Net unrealized gains (losses)	0
Ending Balance at March 31, 2023	$ 0

Fair Value of Financial Instr_8

Fair Value of Financial Instruments - Carrying Value of Commercial Mortgage Loans and Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Total amortized cost	$ 37,912	$ 37,947
Allowance for mortgage loan losses	(49)	(49)
Mortgage loans, net	37,863	37,898
Total mortgage loans \| Mortgage Loans by Region
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 37,912	$ 37,947
Percent of Total	100%	100%
Total mortgage loans \| Mortgage Loans by Region \| East North Central
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 3,245	$ 3,245
Percent of Total	8.60%	8.60%
Total mortgage loans \| Mortgage Loans by Region \| Southern Atlantic
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 9,351	$ 9,397
Percent of Total	24.60%	24.70%
Total mortgage loans \| Mortgage Loans by Region \| East South Central
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 7,719	$ 7,783
Percent of Total	20.30%	20.50%
Total mortgage loans \| Mortgage Loans by Region \| New England
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 6,588	$ 6,588
Percent of Total	17.40%	17.40%
Total mortgage loans \| Mortgage Loans by Region \| Middle Atlantic
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 6,100	$ 6,139
Percent of Total	16.10%	16.20%
Total mortgage loans \| Mortgage Loans by Region \| Mountain
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 1,992	$ 1,992
Percent of Total	5.30%	5.20%
Total mortgage loans \| Mortgage Loans by Region \| West North Central
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 2,917	$ 2,803
Percent of Total	7.70%	7.40%
Total mortgage loans \| Mortgage Loans by Property Type
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 37,912	$ 37,947
Percent of Total	100%	100%
Total mortgage loans \| Mortgage Loans by Property Type \| Multifamily
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 8,593	$ 8,493
Percent of Total	22.70%	22.40%
Total mortgage loans \| Mortgage Loans by Property Type \| Office
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 11,189	$ 11,267
Percent of Total	29.40%	29.70%
Total mortgage loans \| Mortgage Loans by Property Type \| Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 10,038	$ 10,056
Percent of Total	26.50%	26.50%
Total mortgage loans \| Mortgage Loans by Property Type \| Retail
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 1,992	$ 1,992
Percent of Total	5.30%	5.20%
Total mortgage loans \| Mortgage Loans by Property Type \| Mixed use/Other
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 6,100	$ 6,139
Percent of Total	16.10%	16.20%
Less than 65%
Financing Receivable, Credit Quality Indicator [Line Items]
Total amortized cost	$ 29,113	$ 29,231
65%-75%
Financing Receivable, Credit Quality Indicator [Line Items]
Total amortized cost	$ 8,799	$ 8,716

Fair Value of Financial Instr_9

Fair Value of Financial Instruments - Amortized Cost Basis by Year of Origination and Credit Quality Indicator (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
2023	$ 128
2022	101
2020	5,350
2019	7,959
2018	24,374
Total	37,912	$ 37,947
Current-period write-offs	0
Current-period recoveries	0
Current-period net write-offs	0
1-2 internal grade
Financing Receivable, Credit Quality Indicator [Line Items]
2023	128
2022	101
2020	5,350
2019	7,959
2018	17,786
Total	31,324
3-4 internal grade
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	0
2020	0
2019	0
2018	6,588
Total	6,588
5 internal grade
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	0
2020	0
2019	0
2018	0
Total	0
6 internal grade
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	0
2020	0
2019	0
2018	0
Total	0
7 internal grade
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	0
2020	0
2019	0
2018	0
Total	$ 0

Fair Value of Financial Inst_10

Fair Value of Financial Instruments - Rollforward of Allowance for Mortgage Loan Losses (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Rollforward of allowance for mortgage loan losses:
Beginning balance, January 1, 2023	$ 49
Current-period provision for expected credit losses	0
Ending balance of the allowance for mortgage loan losses, March 31, 2023	$ 49

Reserves for Losses and Loss _3

Reserves for Losses and Loss Settlement Expenses (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Gross liability for losses and loss settlement expenses at beginning of year	$ 1,497,274	$ 1,514,265
Ceded losses and loss settlement expenses	(146,875)	(112,900)
Net liability for losses and loss settlement expenses at beginning of year	1,350,399	1,401,365
Losses and loss settlement expenses incurred for claims occurring during
Current year	170,534	624,411
Prior years	4,063	12,890
Total incurred	174,597	637,301
Losses and loss settlement expense payments for claims occurring during
Current year	16,401	215,891
Prior years	145,831	472,377
Total paid	162,232	688,268
Net liability for losses and loss settlement expenses at end of period	1,362,764	1,350,399
Ceded losses and loss settlement expenses	136,627	146,875
Gross liability for losses and loss settlement expenses at end of period	$ 1,499,391	$ 1,497,274

Employee Benefits (Details)

Employee Benefits (Details) - USD ($)	3 Months Ended
Employee Benefits (Details) - USD ($)	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Pension Plan
Net periodic benefit cost
Service cost	$ 954,000	$ 1,120,000
Interest cost	2,526,000	1,933,000
Expected return on plan assets	(3,756,000)	(4,723,000)
Amortization of prior service credit	(820,000)	(820,000)
Amortization of net loss	52,000	194,000
Net periodic benefit cost	(1,044,000)	(2,296,000)
Postretirement Benefit Plan
Net periodic benefit cost
Service cost	0	0
Interest cost	0	1,000
Expected return on plan assets	0	0
Amortization of prior service credit	0	(3,771,000)
Amortization of net loss	0	706,000
Net periodic benefit cost	$ 0	$ (3,064,000)
Benefit obligation			$ 0

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended		171 Months Ended
	May 31, 2021	May 31, 2014	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Dec. 31, 2022	May 20, 2020	May 19, 2020	Dec. 31, 2008
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$ 1,076	$ 979
Stock-based compensation expense to be recognized through results of operations			$ 7,126		$ 7,126
Employee Stock Award Plan-2008
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for issuance (in shares)			1,112,116		1,112,116	1,342,119			1,900,000
Additional shares authorized (in shares)	650,000	1,500,000	0		2,150,000
Employee Stock Award Plan-2008 \| Options Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period			10 years
Employee Stock Award Plan-2008 \| Three years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage			20%
Employee Stock Award Plan-2008 \| Three years \| Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Employee Stock Award Plan-2008 \| Five years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage			33.30%
Employee Stock Award Plan-2008 \| Five years \| Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			5 years
Director Plan - 2005
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for issuance (in shares)			123,397		123,397	123,397	450,000	300,000	300,000
Additional shares authorized (in shares)			0		150,000

Stock-Based Compensation - Acti

Stock-Based Compensation - Activity in the Stock Plan (Details) - shares	1 Months Ended		3 Months Ended	171 Months Ended
	May 31, 2021	May 31, 2014	Mar. 31, 2023	Mar. 31, 2023
Employee Stock Award Plan-2008
Share-based Compensation Arrangement by Share-based Payment Award Available for Grant [Roll Forward]
Beginning balance (in shares)			1,342,119	1,900,000
Additional shares authorized (in shares)	650,000	1,500,000	0	2,150,000
Number of awards granted (in shares)			(250,897)	(3,873,038)
Number of awards forfeited or expired (in shares)			20,894	935,154
Ending balance (in shares)			1,112,116	1,112,116
Employee Stock Award Plan-2008 \| Options Awards
Share-based Compensation Arrangement by Share-based Payment Award Available for Grant [Roll Forward]
Number of option awards exercised (in shares)			4,000	1,537,336
Employee Stock Award Plan-2008 \| Unrestricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award Available for Grant [Roll Forward]
Number of awards granted (in shares)			0	(10,090)
Employee Stock Award Plan-2008 \| Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award Available for Grant [Roll Forward]
Number of restricted stock awards vested (in shares)			15,257	283,102
Director Plan - 2005
Share-based Compensation Arrangement by Share-based Payment Award Available for Grant [Roll Forward]
Beginning balance (in shares)			123,397	300,000
Additional shares authorized (in shares)			0	150,000
Number of awards granted (in shares)			0	(355,238)
Number of awards forfeited or expired (in shares)			0	28,635
Ending balance (in shares)			123,397	123,397
Director Plan - 2005 \| Options Awards
Share-based Compensation Arrangement by Share-based Payment Award Available for Grant [Roll Forward]
Number of option awards exercised (in shares)			1,755	152,336
Director Plan - 2005 \| Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award Available for Grant [Roll Forward]
Number of restricted stock awards vested (in shares)			0	117,001

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-based Compensation Expense (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Share-Based Payment Arrangement [Abstract]
2023	$ 2,477
2024	2,826
2025	1,626
2026	197
2027	0
Total	$ 7,126

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Basic and Diluted Earnings per Share [Line Items]
Net income (loss)	$ 694	$ 28,349
Weighted-average common shares outstanding, basic (in shares)	25,220,437	25,100,885
Weighted-average common shares outstanding, diluted (in shares)	25,500,115	25,323,105
Earnings (loss) per common share, basic (in dollars per share)	$ 0.03	$ 1.13
Earnings (loss) per common share, diluted (in dollars per share)	$ 0.03	$ 1.12
Awards excluded from diluted earnings per share calculation (in shares)	737,629	822,375
Restricted Stock Unit Awards
Basic and Diluted Earnings per Share [Line Items]
Add dilutive effect of share-based awards outstanding (in shares)	279,678	222,220
Stock Options
Basic and Diluted Earnings per Share [Line Items]
Add dilutive effect of share-based awards outstanding (in shares)	0	0

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	3 Months Ended
Debt - Narrative (Details) - USD ($)	Mar. 31, 2023	Mar. 31, 2022	Dec. 15, 2020	Mar. 31, 2020
Line of Credit Facility [Line Items]
Interest paid	$ 797,000	$ 797,000
New Credit Agreement
Line of Credit Facility [Line Items]
Option to increase, maximum amount				$ 100,000,000
Outstanding balance on credit facility	0	0
New Credit Agreement \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Interest paid	$ 0	$ 0
Maximum borrowing capacity				50,000,000
New Credit Agreement \| Letter of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity				20,000,000
New Credit Agreement \| Swing Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity				$ 5,000,000
Surplus Notes
Line of Credit Facility [Line Items]
Principal amount			$ 50,000,000
Surplus Notes \| Federated Mutual
Line of Credit Facility [Line Items]
Principal amount			35,000,000
Surplus Notes \| Federated Life
Line of Credit Facility [Line Items]
Principal amount			$ 15,000,000

Debt - Interest Payable (Detail

Debt - Interest Payable (Details) - Surplus Notes	Mar. 31, 2023
A+
Financing Receivable, Credit Quality Indicator [Line Items]
Applicable Interest Rate	5.875%
A
Financing Receivable, Credit Quality Indicator [Line Items]
Applicable Interest Rate	6.375%
A-
Financing Receivable, Credit Quality Indicator [Line Items]
Applicable Interest Rate	6.875%
B++ (or lower)
Financing Receivable, Credit Quality Indicator [Line Items]
Applicable Interest Rate	7.375%

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 740,114	$ 879,121
Change in accumulated other comprehensive income (loss) before reclassifications	13,575	(69,169)
Reclassification adjustments from accumulated other comprehensive income (loss)	468	460
Ending balance	751,795	835,625
Net unrealized appreciation on investments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(88,369)
Change in accumulated other comprehensive income (loss) before reclassifications	14,223
Reclassification adjustments from accumulated other comprehensive income (loss)	427
Ending balance	(73,719)
Liability for underfunded employee benefit costs
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	873
Change in accumulated other comprehensive income (loss) before reclassifications	(648)
Reclassification adjustments from accumulated other comprehensive income (loss)	41
Ending balance	266
Total
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(87,496)	54,337
Ending balance	$ (73,453)	$ (14,372)

Leases - Narrative (Details)

Leases - Narrative (Details)	Mar. 31, 2023
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms	1 year
Lease extension option terms	6 months
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	5 years
Lease extension option terms	5 years

Leases - Components of Operatin

Leases - Components of Operating Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Components of lease expense:
Operating lease expense	$ 2,188	$ 2,177
Less sublease income	167	53
Net lease expense	2,021	2,124
Cash flows information related to leases:
Operating cash outflow from operating leases	$ 2,052	$ 2,143