SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2019

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of summarized financial information of Maui Jim

(in millions)	2019		2018
Total assets	$	282.2	$	265.6
Total liabilities		104.8		90.4
Total equity		177.4		175.2

Schedule of goodwill and intangible assets

Goodwill and Intangible Assets
(in thousands)		2019		2018
Goodwill
Energy surety	$	25,706	$	25,706
Miscellaneous and contract surety		15,110		15,110
Small commercial		5,246		5,246
Total goodwill	$	46,062	$	46,062
Intangibles
State insurance licenses	$	7,500	$	7,500
Definite-lived intangibles, net of accumulated amortization of $3,470 at 12/31/19 and $3,062 at 12/31/18		565		972
Total intangibles	$	8,065	$	8,472
Total goodwill and intangibles	$	54,127	$	54,534

Schedule of reconciliation of numerator and denominator of the basic and diluted earnings per share computations

			Weighted Average
	Income		Shares	Per Share
(in thousands, except per share data)	(Numerator)		(Denominator)	Amount
For the year ended December 31, 2019
Basic EPS
Income available to common shareholders	$	191,642	44,734	$	4.28
Stock options		—	523
Diluted EPS
Income available to common shareholders and assumed conversions	$	191,642	45,257	$	4.23
For the year ended December 31, 2018
Basic EPS
Income available to common shareholders	$	64,179	44,358	$	1.45
Stock options		—	477
Diluted EPS
Income available to common shareholders and assumed conversions	$	64,179	44,835	$	1.43
For the year ended December 31, 2017
Basic EPS
Income available to common shareholders	$	105,028	44,033	$	2.39
Stock options		—	467
Diluted EPS
Income available to common shareholders and assumed conversions	$	105,028	44,500	$	2.36

Schedule of changes in the balance of each component of accumulated other comprehensive earnings

Unrealized Gains/Losses on Available-for-Sale Securities	For the Year Ended December 31,
(in thousands)	2019		2018		2017
Beginning balance	$	(14,572)	$	157,919	$	122,610
Cumulative effect adjustment of ASU 2016-01		—		(142,219)		—
Adjusted beginning balance	$	(14,572)	$	15,700	$	122,610
Other comprehensive earnings before reclassifications		69,560		(35,763)		40,887
Amounts reclassified from accumulated other comprehensive earnings		(2,515)		1,766		(5,578)
Net current-period other comprehensive earnings (loss)	$	67,045	$	(33,997)	$	35,309
Reclassification of stranded tax effect from implementation of Tax Cuts and Jobs Act of 2017		—		3,725		—
Ending balance	$	52,473	$	(14,572)	$	157,919

Schedule of effects of reclassifications out of accumulated other comprehensive earnings

Amount Reclassified from Accumulated Other Comprehensive Earnings
(in thousands)
Component of Accumulated	For the Year Ended December 31,						Affected line item in the
Other Comprehensive Earnings	2019		2018		2017		Consolidated Statement of Earnings
Unrealized gains and losses on available-for-sale securities	$	3,184	$	(2,018)	$	11,141	Net realized gains
		—		(217)		(2,559)	Other-than-temporary impairment losses on investments
	$	3,184	$	(2,235)	$	8,582	Earnings before income taxes
		(669)		469		(3,004)	Income tax expense
	$	2,515	$	(1,766)	$	5,578	Net earnings