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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis  
Schedule of Carrying Values and Estimated Fair Values of Financial Liabilities
September 30, 2020December 31, 2019
($ in thousands)Carrying AmountFair ValueCarrying AmountFair Value
Financial Liabilities
Short-term debt:
0.36% Borrowings from FHLBNY$100,000 100,005 — — 
0.58% Borrowings from FHLBI67,000 67,050 — — 
Total short-term debt167,000 167,055 — — 
Long-term debt:
7.25% Senior Notes49,913 67,350 49,910 66,365 
6.70% Senior Notes99,495 130,651 99,480 123,104 
5.375% Senior Notes294,219 365,756 294,157 357,025 
1.61% borrowings from FHLBNY25,000 25,255 25,000 24,901 
1.56% borrowings from FHLBNY25,000 25,269 25,000 24,875 
3.03% borrowings from FHLBI60,000 67,972 60,000 63,002 
Subtotal long-term debt553,627 682,253 553,547 659,272 
Unamortized debt issuance costs(3,485)(3,687)
Finance lease obligations424 737 
Total long-term debt$550,566 550,597 
Schedule of Quantitative Disclosures of Our Financial Assets That Were Measured At Fair Value
September 30, 2020 Fair Value Measurements Using
($ in thousands)Assets
Measured at
Fair Value
Quoted Prices in
Active Markets for
Identical Assets/
Liabilities (Level 1)1
Significant Other
 Observable
Inputs
 (Level 2)1
Significant Unobservable
Inputs
(Level 3)
Description    
Measured on a recurring basis:    
AFS fixed income securities:
U.S. government and government agencies$117,529 43,287 74,242 — 
Foreign government17,008 — 17,008 — 
Obligations of states and political subdivisions1,231,456 — 1,228,602 2,854 
Corporate securities2,298,831 — 2,261,195 37,636 
CLO and other ABS945,582 — 900,862 44,720 
RMBS1,182,957 — 1,182,957 — 
CMBS644,174 — 644,174 — 
Total AFS fixed income securities6,437,537 43,287 6,309,040 85,210 
Equity securities:
Common stock1
150,153 103,603 — — 
Preferred stock1,671 1,671 — — 
Total equity securities151,824 105,274 — — 
Short-term investments380,890 379,317 1,573 — 
Total assets measured at fair value$6,970,251 527,878 6,310,613 85,210 

December 31, 2019 Fair Value Measurements Using
($ in thousands)Assets
Measured at
Fair Value
Quoted Prices in
 Active Markets for
Identical Assets/Liabilities
(Level 1)1
Significant
Other Observable
Inputs
 (Level 2)1
Significant Unobservable
Inputs
(Level 3)
Description    
Measured on a recurring basis:    
AFS fixed income securities:
U.S. government and government agencies$116,186 41,083 75,103 — 
Foreign government18,542 — 18,542 — 
Obligations of states and political subdivisions1,230,090 — 1,230,090 — 
Corporate securities1,947,477 — 1,930,426 17,051 
CLO and other ABS793,012 3,635 772,343 17,034 
RMBS1,451,969 — 1,451,969 — 
CMBS538,344 — 538,344 — 
Total AFS fixed income securities6,095,620 44,718 6,016,817 34,085 
Equity securities:
Common stock1
69,900 32,145 — — 
Preferred stock3,037 3,037 — — 
Total equity securities72,937 35,182 — — 
Short-term investments282,490 265,306 17,184 — 
Total assets measured at fair value$6,451,047 345,206 6,034,001 34,085 
1Investments amounting to $46.6 million at September 30, 2020, and $37.8 million at December 31, 2019, were measured at fair value using net asset value per share (or its practical expedient) and are not classified in the fair value hierarchy. These investments are not redeemable and the timing of liquidations of the underlying assets is unknown at each reporting period. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to total assets measured at fair value
Schedule of Changes in Fair Value of Securities Using Level 3 Inputs
September 30, 2020
($ in thousands)Obligations of states and political subdivisionsCorporate SecuritiesCLO and Other ABSTotal
Fair value, December 31, 2019— 17,051 17,034 34,085 
Total net (losses) gains for the period included in:
OCI(36)(2,415)732 (1,719)
   Net realized and unrealized (losses) gains— (456)(247)(703)
Net investment income earned— — 3 3 
Purchases— 19,002 11,751 30,753 
Sales— — — — 
Issuances— — — — 
Settlements— (138)(1,030)(1,168)
Transfers into Level 32,890 4,592 26,401 33,883 
Transfers out of Level 3— — (9,924)(9,924)
Fair value, September 30, 20202,854 37,636 44,720 85,210 
Change in unrealized (losses) gains for the period included in earnings for assets held at period end— (456)(247)(703)
Change in unrealized gains (losses) for the period included in OCI for assets held at period end(36)(2,415)732 (1,719)

September 30, 2019
($ in thousands)Corporate SecuritiesCLO and Other ABSTotal
Fair value, December 31, 2018— 7,409 7,409 
Total net (losses) gains for the period included in:
OCI(69)(14)(83)
Net investment income earned— 244 244 
Purchases— 18,404 18,404 
Sales— — — 
Issuances— — — 
Settlements— (105)(105)
Transfers into Level 316,419 13,603 30,022 
Transfers out of Level 3— (19,662)(19,662)
Fair value, September 30, 201916,350 19,879 36,229 
Change in unrealized gains (losses) for the period included in earnings for assets held at period end— — — 
Schedule of Quantitative Information of Our Financial Assets and Liabilities That Were Disclosed at Fair Value
September 30, 2020 Fair Value Measurements Using
($ in thousands)Assets/
Liabilities
Disclosed at
Fair Value		Quoted Prices in
Active Markets for
Identical Assets/
Liabilities
(Level 1)		Significant Other
Observable Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Financial Assets    
HTM:    
Obligations of states and political subdivisions$4,849 — 4,849 — 
Corporate securities15,364 — 15,364 — 
Total HTM fixed income securities$20,213 — 20,213 — 
CMLs$30,595 — 2,540 28,055 
Financial Liabilities    
Short-term debt:
0.36% Borrowings from FHLBNY$100,005 — 100,005 — 
0.58% Borrowings from FHLBI67,050 — 67,050 — 
Total short-term debt$167,055 — 167,055 — 
Long-term debt:
7.25% Senior Notes$67,350 — 67,350 — 
6.70% Senior Notes130,651 — 130,651 — 
5.375% Senior Notes365,756 — 365,756 — 
1.61% borrowings from FHLBNY25,255 — 25,255 — 
1.56% borrowings from FHLBNY25,269 — 25,269 — 
3.03% borrowings from FHLBI67,972 — 67,972 — 
Total long-term debt$682,253 — 682,253 — 

December 31, 2019 Fair Value Measurements Using
($ in thousands)Assets/
Liabilities
Disclosed at
Fair Value		Quoted Prices in
Active Markets for
Identical Assets/
Liabilities
(Level 1)		Significant Other
Observable Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Financial Assets    
HTM:    
Obligations of states and political subdivisions$4,921 — 4,921 — 
Corporate securities17,054 — 17,054 — 
Total HTM fixed income securities$21,975 — 21,975 — 
Financial Liabilities    
Long-term debt:
7.25% Senior Notes$66,365 — 66,365 — 
6.70% Senior Notes123,104 — 123,104 — 
5.375% Senior Notes357,025 — 357,025 — 
1.61% borrowings from FHLBNY24,901 — 24,901 — 
1.56% borrowings from FHLBNY24,875 — 24,875 — 
3.03% borrowings from FHLBI63,002 — 63,002 — 
Total long-term debt$659,272 — 659,272 —