Mortgage Loans (Tables)

3 Months Ended

Mar. 31, 2023

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

The carrying value of the Company’s mortgage loans as of March 31, 2023 and December 31, 2022 were as follows:

($ in thousands)	March 31, 2023		December 31, 2022
Retail	$	15,568	$	16,516
Industrial	—		6,329
Commercial	16,086		15,309
Multi-family	2,596		5,593
Office	3,210		3,197
Hospitality	4,875		4,915
	$	42,335	$	51,859

Investment Income

The following table sets forth the proceeds from sales of available-for-sale fixed maturity securities and equity securities for the three months ended March 31, 2023 and 2022:

($ in thousands)	2023		2022
Fixed maturity securities, available-for sale	$	8,392	$	7,575
Equity securities	13,325		11,966

The following table sets forth the components of net investment income for the three months ended March 31, 2023 and 2022:

($ in thousands)	2023		2022
Income:
Fixed maturity securities, available-for sale	$	6,676	$	3,224
Fixed maturity securities, held-to-maturity	1,003		1,937
Equity securities	726		738
Equity method investments	(4,664)		9,210
Mortgage loans	1,473		818
Indirect loans	(1,319)		1,657
Short-term investments and cash	1,789		27
Other	(20)		7
Total investment income	5,664		17,618
Investment expenses	(1,018)		(2,469)
Net investment income	$	4,646	$	15,149

The Company’s gross investment income for mortgage loans for the three months ended March 31, 2023 and 2022 were as follows:

($ in thousands)	2023		2022
Retail	$	595	$	359
Commercial	494		210
Multi-family	117		69
Office	106		166
Hospitality	161		14
	$	1,473	$	818