0001140361-24-036147 | 10-Q | XBRL Viewer

Segment Information (Tables)

6 Months Ended

Jun. 30, 2024

Financial data by segment for the three and six months ended June 30, 2024 and 2023 is as follows:

	Three Months Ended June 30,
	2024			2023
	(in thousands)
Revenues:
Premiums earned:
Commercial lines	$	134,489		$	130,808
Personal lines		99,822			85,452
GAAP premiums earned		234,311			216,260
Net investment income		11,068			10,157
Investment gains		737			2,504
Other		657			275
Total revenues	$	246,773		$	229,196
Income before income tax expense:
Underwriting loss:
Commercial lines	$	(9,319	)	$	(5,429	)
Personal lines		(405	)		(6,424	)
SAP underwriting loss		(9,724	)		(11,853	)
GAAP adjustments		2,795			1,649
GAAP underwriting loss		(6,929	)		(10,204	)
Net investment income		11,068			10,157
Investment gains		737			2,504
Other		136			(204	)
Income before income tax expense	$	5,012		$	2,253

	Six Months Ended June 30,
	2024			2023
	(in thousands)
Revenues:
Premiums earned:
Commercial lines	$	266,581		$	263,995
Personal lines		195,479			167,498
GAAP premiums earned		462,060			431,493
Net investment income		22,041			19,607
Investment gains		2,850			2,173
Other		962			669
Total revenues	$	487,913		$	453,942
Income before income tax expense:
Underwriting loss:
Commercial lines	$	(19,690	)	$	(13,353	)
Personal lines		(937	)		(5,562	)
SAP underwriting loss		(20,627	)		(18,915	)
GAAP adjustments		8,154			6,086
GAAP underwriting loss		(12,473	)		(12,829	)
Net investment income		22,041			19,607
Investment gains		2,850			2,173
Other		(157	)		(401	)
Income before income tax expense	$	12,261		$	8,550

Basis of Presentation

6 Months Ended

Jun. 30, 2024

Basis of Presentation [Abstract]

Basis of Presentation

2 -	Basis of Presentation

Our financial information for the interim periods included in this Form 10-Q Report is unaudited; however, our financial information we include in this Form 10-Q Report reflects all adjustments, consisting only of normal recurring adjustments that, in the opinion of our management, are necessary for a fair presentation of our financial position, results of operations and cash flows for those interim periods. Our results of operations for the six months ended June 30, 2024 are not necessarily indicative of the results of operations we expect for the year ending December 31, 2024.

We recommend you read the interim financial statements we include in this Form 10-Q Report in conjunction with the financial statements and the notes to our financial statements contained in our Annual Report on Form 10-K for the year ended December 31, 2023 that we filed with the Securities and Exchange Commission (“SEC”) on March 6, 2024.

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Jun. 30, 2024	Aug. 01, 2024
Entity Listings [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Document Transition Report	false
Entity File Number	0-15341
Entity Registrant Name	Donegal Group Inc.
Entity Central Index Key	0000800457
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	23-2424711
Entity Address, Address Line One	1195 River Road
Entity Address, Address Line Two	P.O. Box 302
Entity Address, City or Town	Marietta
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	17547
City Area Code	717
Local Phone Number	426-1931
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Common Class A [Member]
Entity Listings [Line Items]
Title of 12(b) Security	Class A Common Stock, $.01 par value
Trading Symbol	DGICA
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		27,906,875
Common Class B [Member]
Entity Listings [Line Items]
Title of 12(b) Security	Class B Common Stock, $.01 par value
Trading Symbol	DGICB
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		5,576,775

Segment Information (Details) - USD ($)	3 Months Ended		6 Months Ended
Segment Information (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Premiums earned [Abstract]
Premiums earned	$ 234,311,147	$ 216,260,037	$ 462,059,826	$ 431,493,197
Net investment income	11,068,499	10,157,459	22,040,826	19,606,537
Investment gains	736,669	2,504,012	2,850,047	2,172,823
Total revenues	246,772,546	229,195,919	487,913,415	453,941,690
Underwriting loss [Abstract]
Net investment income	11,068,499	10,157,459	22,040,826	19,606,537
Investment gains	736,669	2,504,012	2,850,047	2,172,823
Income before income tax expense	5,012,442	2,253,478	12,260,838	8,549,911
Operating Segments [Member]
Premiums earned [Abstract]
Premiums earned	234,311,000	216,260,000	462,060,000	431,493,000
Net investment income	11,068,000	10,157,000	22,041,000	19,607,000
Investment gains	737,000	2,504,000	2,850,000	2,173,000
Other	657,000	275,000	962,000	669,000
Total revenues	246,773,000	229,196,000	487,913,000	453,942,000
Underwriting loss [Abstract]
SAP underwriting loss	(9,724,000)	(11,853,000)	(20,627,000)	(18,915,000)
GAAP adjustments	2,795,000	1,649,000	8,154,000	6,086,000
GAAP underwriting loss	(6,929,000)	(10,204,000)	(12,473,000)	(12,829,000)
Net investment income	11,068,000	10,157,000	22,041,000	19,607,000
Investment gains	737,000	2,504,000	2,850,000	2,173,000
Other	136,000	(204,000)	(157,000)	(401,000)
Income before income tax expense	5,012,000	2,253,000	12,261,000	8,550,000
Commercial Lines [Member] \| Operating Segments [Member]
Premiums earned [Abstract]
Premiums earned	134,489,000	130,808,000	266,581,000	263,995,000
Underwriting loss [Abstract]
SAP underwriting loss	(9,319,000)	(5,429,000)	(19,690,000)	(13,353,000)
Personal Lines [Member] \| Operating Segments [Member]
Premiums earned [Abstract]
Premiums earned	99,822,000	85,452,000	195,479,000	167,498,000
Underwriting loss [Abstract]
SAP underwriting loss	$ (405,000)	$ (6,424,000)	$ (937,000)	$ (5,562,000)

Investments, Fixed Maturities with Unrealized Losses (Details) $ in Thousands	Jun. 30, 2024 USD ($) Securities	Dec. 31, 2023 USD ($)
Debt Securities, Fair Value and Unrealized Losses by Fixed Maturities [Abstract]
Less than 12 months, fair value	$ 196,802	$ 105,351
Less than 12 months, unrealized losses	2,823	830
More than 12 months, fair value	948,801	955,943
More than 12 months, unrealized losses	$ 119,855	111,407
Number of fixed maturity securities classified as available for sale \| Securities	916
U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies [Member]
Debt Securities, Fair Value and Unrealized Losses by Fixed Maturities [Abstract]
Less than 12 months, fair value	$ 40,893	32,224
Less than 12 months, unrealized losses	316	217
More than 12 months, fair value	127,737	116,538
More than 12 months, unrealized losses	13,636	12,815
Obligations of States and Political Subdivisions [Member]
Debt Securities, Fair Value and Unrealized Losses by Fixed Maturities [Abstract]
Less than 12 months, fair value	48,038	13,097
Less than 12 months, unrealized losses	1,069	68
More than 12 months, fair value	286,569	307,429
More than 12 months, unrealized losses	57,139	50,631
Corporate Securities [Member]
Debt Securities, Fair Value and Unrealized Losses by Fixed Maturities [Abstract]
Less than 12 months, fair value	43,123	13,066
Less than 12 months, unrealized losses	1,031	324
More than 12 months, fair value	327,109	353,863
More than 12 months, unrealized losses	28,110	29,670
Mortgage-Backed Securities [Member]
Debt Securities, Fair Value and Unrealized Losses by Fixed Maturities [Abstract]
Less than 12 months, fair value	64,748	46,964
Less than 12 months, unrealized losses	407	221
More than 12 months, fair value	207,386	178,113
More than 12 months, unrealized losses	$ 20,970	$ 18,291

Reinsurance

6 Months Ended

Jun. 30, 2024

Reinsurance [Abstract]

Reinsurance

4 -	Reinsurance

Atlantic States and Donegal Mutual have participated in a pooling agreement since 1986 under which they pool substantially all of their respective premiums, losses and loss expenses, and Atlantic States and Donegal Mutual then share the underwriting results of the pool in accordance with the terms of the pooling agreement. Atlantic States has an 80% share of the results of the pool, and Donegal Mutual has a 20% share of the results of the pool.

Our insurance subsidiaries and Donegal Mutual participate in a consolidated third-party reinsurance program. The coverage and parameters of the program are common to all of our insurance subsidiaries and Donegal Mutual. The program utilizes several different reinsurers. They require their reinsurers to maintain an A.M. Best rating of A- (Excellent) or better or, with respect to foreign reinsurers, have a financial condition that, in the opinion of our management, is equivalent to a company with at least an A- rating from A.M. Best. The following information describes the external reinsurance Donegal Mutual and our insurance subsidiaries have in place for 2024:

•

excess of loss reinsurance, under which Donegal Mutual and our insurance subsidiaries recover losses over a set retention of $3.0 million for all losses other than property and a set retention of $4.0 million for property losses; and

•

catastrophe reinsurance, under which Donegal Mutual and our insurance subsidiaries recover 100% of an accumulation of many losses resulting from a single event, including natural disasters, over a set retention of $25.0 million up to aggregate losses of $175.0 million per occurrence.

For property insurance, our insurance subsidiaries have excess of loss reinsurance that provides coverage of $36.0 million per loss over a set retention of $4.0 million. For liability insurance, our insurance subsidiaries have excess of loss reinsurance that provides coverage of $72.0 million per occurrence over a set retention of $3.0 million. For workers’ compensation insurance, our insurance subsidiaries have excess of loss reinsurance that provides coverage of $17.0 million on any one life over a set retention of $3.0 million.

In addition to the pooling agreement and third-party reinsurance, our insurance subsidiaries have a catastrophe reinsurance agreement with Donegal Mutual, under which each of our insurance subsidiaries recovers 100% of an accumulation of multiple losses resulting from a single event, including natural disasters, over a set retention of $3.0 million up to aggregate losses of $22.0 million per occurrence. The agreement also provides additional coverage for an accumulation of losses from a single event including a combination of our insurance subsidiaries over a combined retention of $6.0 million. The purpose of the agreement is to lessen the effects of an accumulation of losses arising from one event to levels that are appropriate given each subsidiary’s size, underwriting profile and surplus.

Our insurance subsidiaries and Donegal Mutual also purchase facultative reinsurance to cover certain exposures, including property exposures that exceeded the limits provided by their respective treaty reinsurance.

In order to write automobile insurance in the state of Michigan, Atlantic States, MICO and Peninsula are required to be members of the Michigan Catastrophic Claims Association (“MCCA”). The MCCA provides reinsurance to Atlantic States, MICO and Peninsula for personal automobile and commercial automobile personal injury claims in the state of Michigan over a set retention.

We report reinsurance receivable net of an allowance for expected credit losses. We base the allowance upon our ongoing review of amounts outstanding, historical loss data, changes in reinsurer credit standing and other relevant factors. We use a probability-of-default methodology, which reflects current and forecasted economic conditions, to estimate the allowance for expected credit losses.

Borrowings

6 Months Ended

Jun. 30, 2024

Borrowings [Abstract]

Borrowings

7 -	Borrowings

Lines of Credit

In August 2020, we entered into a credit agreement with Manufacturers and Traders Trust Company (“M&T”) that related to a $20.0 million unsecured demand line of credit. The line of credit has no expiration date, no annual fees and no covenants. At June 30, 2024, we had no outstanding borrowings from M&T and had the ability to borrow up to $20.0 million at an interest rate equal to the then-current Term SOFR rate plus 2.11%.

Atlantic States is a member of the FHLB of Pittsburgh. Through its membership, Atlantic States has the ability to issue debt to the FHLB of Pittsburgh in exchange for cash advances. Atlantic States has a fixed-rate cash advance of $35.0 million that was outstanding at June 30, 2024. The cash advance carries a fixed interest rate of 1.74% and is due in August 2024. The table below presents the amount of FHLB of Pittsburgh stock Atlantic States purchased, collateral pledged and assets related to Atlantic States’ membership in the FHLB of Pittsburgh at June 30, 2024.

FHLB of Pittsburgh stock purchased and owned	$	1,605,000
Collateral pledged, at par (carrying value $39,592,120)		43,096,513
Borrowing capacity currently available		2,220,037

Organization

6 Months Ended

Jun. 30, 2024

Organization [Abstract]

Organization

1 -	Organization

Donegal Mutual Insurance Company (“Donegal Mutual”) organized us as an insurance holding company on August 26, 1986. Our insurance subsidiaries are Atlantic States Insurance Company (“Atlantic States”), Michigan Insurance Company (“MICO”), the Peninsula Insurance Group (“Peninsula”), which consists of The Peninsula Insurance Company and its wholly owned subsidiary Peninsula Indemnity Company, and Southern Insurance Company of Virginia (“Southern”). Our insurance subsidiaries and their affiliates write commercial and personal lines of property and casualty coverages exclusively through a network of independent insurance agents in certain Mid-Atlantic, Midwestern, New England, Southern and Southwestern states.

At June 30, 2024, we had three segments: our investment function, our commercial lines of insurance and our personal lines of insurance. The commercial lines products of our insurance subsidiaries consist primarily of commercial automobile, commercial multi-peril and workers’ compensation policies. The personal lines products of our insurance subsidiaries consist primarily of homeowners and private passenger automobile policies.

At June 30, 2024, Donegal Mutual held approximately 43% of our outstanding Class A common stock and approximately 84% of our outstanding Class B common stock. This ownership provides Donegal Mutual with approximately 71% of the total voting power of our common stock. Our insurance subsidiaries and Donegal Mutual have interrelated operations due to a pooling agreement and other intercompany agreements and transactions. While each company maintains its separate corporate existence, our insurance subsidiaries and Donegal Mutual conduct business together as the Donegal Insurance Group. As such, Donegal Mutual and our insurance subsidiaries share the same business philosophy, the same management, the same employees and the same facilities and offer the same types of insurance products.

Atlantic States, our largest subsidiary, participates in a proportional reinsurance agreement (the “pooling agreement”) with Donegal Mutual. Under the pooling agreement, Donegal Mutual and Atlantic States contribute substantially all of their respective premiums, losses and loss expenses to the underwriting pool, and the underwriting pool, acting through Donegal Mutual, then allocates 80% of the pooled business to Atlantic States. Thus, Donegal Mutual and Atlantic States share the underwriting results of the pooled business in proportion to their respective participation in the underwriting pool.

In addition, Donegal Mutual has 100% quota-share reinsurance agreements with Mountain States Commercial Insurance Company, Mountain States Indemnity Company and Southern Mutual Insurance Company. Donegal Mutual places its assumed business from these companies into the underwriting pool.

The same executive management and underwriting personnel administer products, classes of business underwritten, pricing practices and underwriting standards of Donegal Mutual and our insurance subsidiaries. In addition, as the Donegal Insurance Group, Donegal Mutual and our insurance subsidiaries share a combined business plan to achieve market penetration and underwriting profitability objectives. The products our insurance subsidiaries and Donegal Mutual market are generally complementary, thereby allowing the Donegal Insurance Group to offer a broader range of products to a given market and to expand the Donegal Insurance Group’s ability to service an entire personal lines or commercial lines account. Distinctions within the products of Donegal Mutual and our insurance subsidiaries generally relate to specific risk profiles targeted within similar classes of business, such as preferred tier versus standard tier products, but we do not allocate all of the standard risk gradients to one company. Therefore, the underwriting profitability of the business the individual companies write directly will vary. However, the underwriting pool homogenizes the risk characteristics of all business that Donegal Mutual and Atlantic States write directly. The business Atlantic States derives from the underwriting pool represents a significant percentage of our total consolidated revenues.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Insider Trading Arrangements [Line Items]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Investments, Cost and Estimated Fair Value of Equity Securities (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Cost and Estimated Fair Value of Equity Securities [Abstract]
Cost	$ 22,524,000	$ 18,844,000
Gross gains	10,042,000	7,059,000
Gross losses	110,000	0
Estimated fair value	$ 32,455,954	$ 25,902,956

Consolidated Statements of Income (Parenthetical) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues:
Investment gains	$ 736,669	$ 2,504,012	$ 2,850,047	$ 2,172,823
Income tax expense (benefit)	859,665	256,055	2,152,510	1,348,892
Reclassification out of Accumulated Other Comprehensive Income [Member]
Revenues:
Investment gains	81,410	147,636	4,359	(2,052,037)
Income tax expense (benefit)	$ 17,096	$ 31,003	$ 915	$ (430,928)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Allowance for Expected Credit Losses (Tables)

6 Months Ended

Jun. 30, 2024

Allowance for Expected Credit Losses [Abstract]

Held-to-Maturity Fixed-Maturity Securities

The following table presents the balances for fixed maturities classified as held-to-maturity, net of the allowance for expected credit losses, at June 30, 2024 and 2023 and changes in the allowance for expected credit losses for the three and six months ended June 30, 2024 and 2023.

	At and For the Three Months Ended June 30, 2024				At and For the Three Months Ended June 30, 2023
	Held-to- Maturity, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses		Held-to- Maturity, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses
	(in thousands)
Balance at beginning of period	$	683,399	$	1,329	$	693,779	$	1,355
Current period change for expected credit losses				25				(31	)
Balance at end of period	$	690,580	$	1,354	$	685,402	$	1,324

	At and For the Six Months Ended June 30, 2024				At and For the Six Months Ended June 30, 2023
	Held-to- Maturity, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses		Held-to- Maturity, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses
	(in thousands)
Balance at beginning of period	$	679,497	$	1,326	$	688,439	$	—
Cumulative effect of adoption of updated accounting guidance for credit losses				—				1,268
Current period change for expected credit losses				28				56
Balance at end of period	$	690,580	$	1,354	$	685,402	$	1,324

Reinsurance Receivable

The following table presents the balances for reinsurance receivable, net of the allowance for expected credit losses, at June 30, 2024 and 2023, and the changes in the allowance for expected credit losses for the three and six months ended June 30, 2024 and 2023.

	At and For the Three Months Ended June 30, 2024					At and For the Three Months Ended June 30, 2023
	Reinsurance Receivable, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses			Reinsurance Receivable, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses
	(in thousands)
Balance at beginning of period	$	435,505	$	1,026		$	460,681	$	1,467
Current period change for expected credit losses				(94	)				100
Balance at end of period	$	440,858	$	932		$	450,680	$	1,567

	At and For the Six Months Ended June 30, 2024					At and For the Six Months Ended June 30, 2023
	Reinsurance Receivable, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses			Reinsurance Receivable, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses
	(in thousands)
Balance at beginning of period	$	441,431	$	1,394		$	456,522	$	—
Cumulative effect of adoption of updated accounting guidance for credit losses				—					1,132
Current period change for expected credit losses				(462	)				435
Balance at end of period	$	440,858	$	932		$	450,680	$	1,567

Investments, Gross Investment Gains and Losses before Applicable Income Taxes (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Net Gains and Losses from Investments [Abstract]
Gross realized gains	$ 82,000	$ 419,000	$ 5,000	$ 726,000
Gross realized losses	0	277,000	0	2,545,000
Net realized gains (losses)	82,000	142,000	5,000	(1,819,000)
Gross unrealized gains on equity securities			10,042,000		$ 7,059,000
Gross unrealized losses on equity securities			(110,000)		$ 0
Net investment gains	736,669	2,504,012	2,850,047	2,172,823
Fixed Maturities [Member]
Net Gains and Losses from Investments [Abstract]
Gross realized gains	82,000	419,000	5,000	441,000
Gross realized losses	0	272,000	0	2,494,000
Credit impairment charges	(25,000)	31,000	(28,000)	(56,000)
Equity Securities [Member]
Net Gains and Losses from Investments [Abstract]
Gross realized gains	0	0	0	285,000
Gross realized losses	0	5,000	0	51,000
Gross unrealized gains on equity securities		2,473,000	2,983,000	4,675,000
Gross unrealized gains on equity securities	727,000
Gross unrealized losses on equity securities		$ (142,000)	$ (110,000)	$ (627,000)
Gross unrealized losses on equity securities	$ (47,000)

Allowance for Expected Credit Losses, Held-to-Maturity Fixed-Maturity Securities (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Held-to-Maturity, Net of Allowance for Expected Credit Losses [Abstract]
Balance at beginning of period	$ 683,399,000	$ 693,779,000	$ 679,497,038	$ 688,439,000
Balance at end of period	690,580,051	685,402,000	690,580,051	685,402,000
Allowance for Expected Credit Losses [Abstract]
Balance at beginning of period	1,329,000	1,355,000	$ 1,325,847	$ 0
Accounting Standards Update [Extensible Enumeration]			ASU 2016-13 [Member]	ASU 2016-13 [Member]
Current period change for expected credit losses	25,000	(31,000)	$ 28,000	$ 56,000
Balance at end of period	$ 1,353,571	$ 1,324,000	1,353,571	1,324,000
Cumulative Effect, Period of Adoption, Adjustment [Member]
Allowance for Expected Credit Losses [Abstract]
Balance at beginning of period			$ 0	$ 1,268,000

- Definition

Indicates amendment to accounting standards.

+ References

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-Section 50
-Paragraph 1
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

+ Details

Consolidated Statement of Stockholders' Equity - USD ($)	Common Stock [Member] Class A Common Stock [Member]	Common Stock [Member] Class A Common Stock [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Common Stock [Member] Class B Common Stock [Member]	Common Stock [Member] Class B Common Stock [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Additional Paid-In Capital [Member]	Additional Paid-In Capital [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated Other Comprehensive Loss [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Retained Earnings [Member]	Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Treasury Stock [Member]	Treasury Stock [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Total	Cumulative Effect, Period of Adoption, Adjustment [Member]
Beginning balance at Dec. 31, 2022	$ 301,203		$ 56,492		$ 325,601,647		$ (41,703,747)		$ 240,563,774		$ (41,226,357)		$ 483,593,012
Beginning balance (ASU 2016-13 [Member]) at Dec. 31, 2022		$ 0		$ 0		$ 0		$ 0		$ (1,895,902)		$ 0		$ (1,895,902)
Beginning balance (in shares) at Dec. 31, 2022	30,120,263		5,649,240
Beginning balance (in shares) (ASU 2016-13 [Member]) at Dec. 31, 2022		0		0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (stock compensation plans)	$ 350		$ 0		440,746		0		0		0		441,096
Issuance of common stock (stock compensation plans) (in shares)	35,045		0
Share-based compensation	$ 1,431		$ 0		2,218,355		0		0		0		2,219,786
Share-based compensation (in shares)	143,004		0
Net income	$ 0		$ 0		0		0		5,203,596		0		5,203,596
Cash dividends declared	0		0		0		0		(7,057)		0		(7,057)
Grant of stock options	0		0		114,724		0		(114,724)		0		0
Other comprehensive income (loss)	0		0		0		4,007,638		0		0		4,007,638
Ending balance at Mar. 31, 2023	$ 302,984		$ 56,492		328,375,472		(37,696,109)		243,749,687		(41,226,357)		493,562,169
Ending balance (in shares) at Mar. 31, 2023	30,298,312		5,649,240
Beginning balance at Dec. 31, 2022	$ 301,203		$ 56,492		325,601,647		(41,703,747)		240,563,774		(41,226,357)		483,593,012
Beginning balance (ASU 2016-13 [Member]) at Dec. 31, 2022		$ 0		$ 0		$ 0		$ 0		$ (1,895,902)		$ 0		$ (1,895,902)
Beginning balance (in shares) at Dec. 31, 2022	30,120,263		5,649,240
Beginning balance (in shares) (ASU 2016-13 [Member]) at Dec. 31, 2022		0		0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income													7,201,019
Other comprehensive income (loss)													(3,497,695)
Ending balance at Jun. 30, 2023	$ 305,389		$ 56,492		332,072,996		(45,201,442)		240,186,488		(41,226,357)		486,193,566
Ending balance (in shares) at Jun. 30, 2023	30,538,869		5,649,240
Beginning balance at Mar. 31, 2023	$ 302,984		$ 56,492		328,375,472		(37,696,109)		243,749,687		(41,226,357)		493,562,169
Beginning balance (in shares) at Mar. 31, 2023	30,298,312		5,649,240
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (stock compensation plans)	$ 447		$ 0		668,933		0		0		0		669,380
Issuance of common stock (stock compensation plans) (in shares)	44,664		0
Share-based compensation	$ 1,958		$ 0		2,966,842		0		0		0		2,968,800
Share-based compensation (in shares)	195,893		0
Net income	$ 0		$ 0		0		0		1,997,423		0		1,997,423
Cash dividends declared	0		0		0		0		(5,498,873)		0		(5,498,873)
Grant of stock options	0		0		61,749		0		(61,749)		0		0
Other comprehensive income (loss)	0		0		0		(7,505,333)		0		0		(7,505,333)
Ending balance at Jun. 30, 2023	$ 305,389		$ 56,492		332,072,996		(45,201,442)		240,186,488		(41,226,357)		486,193,566
Ending balance (in shares) at Jun. 30, 2023	30,538,869		5,649,240
Beginning balance at Dec. 31, 2023	$ 307,646		$ 56,492		335,694,478		(32,881,822)		217,794,917		(41,226,357)		479,745,354
Beginning balance (in shares) at Dec. 31, 2023	30,764,555		5,649,240
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (stock compensation plans)	$ 383		$ 0		472,740		0		0		0		473,123
Issuance of common stock (stock compensation plans) (in shares)	38,287		0
Share-based compensation	$ 164		$ 0		522,460		0		0		0		522,624
Share-based compensation (in shares)	16,400		0
Net income	$ 0		$ 0		0		0		5,955,551		0		5,955,551
Cash dividends declared	0		0		0		0		(8,888)		0		(8,888)
Grant of stock options	0		0		128,267		0		(128,267)		0		0
Other comprehensive income (loss)	0		0		0		(1,601,290)		0		0		(1,601,290)
Ending balance at Mar. 31, 2024	$ 308,193		$ 56,492		336,817,945		(34,483,112)		223,613,313		(41,226,357)		485,086,474
Ending balance (in shares) at Mar. 31, 2024	30,819,242		5,649,240
Beginning balance at Dec. 31, 2023	$ 307,646		$ 56,492		335,694,478		(32,881,822)		217,794,917		(41,226,357)		479,745,354
Beginning balance (in shares) at Dec. 31, 2023	30,764,555		5,649,240
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income													10,108,328
Other comprehensive income (loss)													(1,977,742)
Ending balance at Jun. 30, 2024	$ 308,627		$ 56,492		337,772,950		(34,859,564)		222,023,719		(41,226,357)		484,075,867
Ending balance (in shares) at Jun. 30, 2024	30,862,670		5,649,240
Beginning balance at Mar. 31, 2024	$ 308,193		$ 56,492		336,817,945		(34,483,112)		223,613,313		(41,226,357)		485,086,474
Beginning balance (in shares) at Mar. 31, 2024	30,819,242		5,649,240
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (stock compensation plans)	$ 434		$ 0		604,562		0		0		0		604,996
Issuance of common stock (stock compensation plans) (in shares)	43,428		0
Share-based compensation	$ 0		$ 0		278,337		0		0		0		278,337
Share-based compensation (in shares)	0		0
Net income	$ 0		$ 0		0		0		4,152,777		0		4,152,777
Cash dividends declared	0		0		0		0		(5,670,265)		0		(5,670,265)
Grant of stock options	0		0		72,106		0		(72,106)		0		0
Other comprehensive income (loss)	0		0		0		(376,452)		0		0		(376,452)
Ending balance at Jun. 30, 2024	$ 308,627		$ 56,492		$ 337,772,950		$ (34,859,564)		$ 222,023,719		$ (41,226,357)		$ 484,075,867
Ending balance (in shares) at Jun. 30, 2024	30,862,670		5,649,240

Fair Value Measurements

6 Months Ended

Jun. 30, 2024

Fair Value Measurements [Abstract]

Fair Value Measurements

9 -	Fair Value Measurements

We account for financial assets using a framework that establishes a hierarchy that ranks the quality and reliability of the inputs, or assumptions, we use in the determination of fair value, and we classify financial assets and liabilities carried at fair value in one of the following three categories:

Level 1 – quoted prices in active markets for identical assets and liabilities;

Level 2 – directly or indirectly observable inputs other than Level 1 quoted prices; and

Level 3 – unobservable inputs not corroborated by market data.

For investments that have quoted market prices in active markets, we use the quoted market price as fair value and include these investments in Level 1 of the fair value hierarchy. We classify publicly-traded equity securities as Level 1. When quoted market prices in active markets are not available, we base fair values on quoted market prices of comparable instruments or price estimates we obtain from independent pricing services and include these investments in Level 2 of the fair value hierarchy. We classify our fixed maturity investments and non-publicly traded equity securities as Level 2. Our fixed maturity investments consist of U.S. Treasury securities and obligations of U.S. government corporations and agencies, obligations of states and political subdivisions, corporate securities and mortgage-backed securities.

We present our investments in available-for-sale fixed maturity and equity securities at estimated fair value. The estimated fair value of a security may differ from the amount that could be realized if we sold the security in a forced transaction. In addition, the valuation of fixed maturity investments is more subjective when markets are less liquid, increasing the potential that the estimated fair value does not reflect the price at which an actual transaction would occur. We utilize nationally recognized independent pricing services to estimate fair values or obtain market quotations for substantially all of our fixed maturity and equity investments. We generally obtain two prices per security. These pricing services utilize market quotations for fixed maturity and equity securities that have quoted prices in active markets. For fixed maturity securities that generally do not trade on a daily basis, the pricing services prepare estimates of fair value measurements based predominantly on observable market inputs. The pricing services do not use broker quotes in determining the fair values of our investments. Our investment personnel review the estimates of fair value the pricing services provide to verify that the estimates we obtain from the pricing services are representative of fair values based upon our investment personnel’s general knowledge of the market, their research findings related to unusual fluctuations in value and their comparison of such values to execution prices for similar securities. Our investment personnel monitor the market and are familiar with current trading ranges for similar securities and the pricing of specific investments. Our investment personnel review all pricing estimates that we receive from the pricing services against their expectations with respect to pricing based on fair market curves, security ratings, coupon rates, security types and recent trading activity. Our investment personnel periodically review documentation with respect to the pricing services’ pricing methodology that they obtain to determine if the primary pricing sources, market inputs and pricing frequency for various security types are reasonable. At June 30, 2024, we received two estimates per security from the pricing services, and we priced substantially all of our Level 1 and Level 2 investments using those prices. In our review of the estimates the pricing services provided at June 30, 2024, we did not identify any material discrepancies, and we did not make any adjustments to the estimates the pricing services provided.

We present our cash and short-term investments at estimated fair value. We classify these items as Level 1.

The carrying values we report in our balance sheet for premium receivables, reinsurance receivables related to paid losses and loss expenses and reinsurance balances payable approximate their fair values. The carrying amounts we report in our balance sheets for our borrowings under lines of credit approximate their fair values. We classify these items as Level 3.

We evaluate our assets and liabilities to determine the appropriate level at which to classify them for each reporting period.

The following table presents our fair value measurements for our investments in available-for-sale fixed maturity and equity securities at June 30, 2024:

	Fair Value Measurements Using
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(in thousands)
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	90,518	$	—	$	90,518	$	—
Obligations of states and political subdivisions		37,333		—		37,333		—
Corporate securities		194,638		—		194,638		—
Mortgage-backed securities		281,679		—		281,679		—
Equity securities		32,456		30,451		2,005		—
Total investments in the fair value hierarchy	$	636,624	$	30,451	$	606,173	$	—

The following table presents our fair value measurements for our investments in available-for-sale fixed maturity and equity securities at December 31, 2023:

	Fair Value Measurements Using
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(in thousands)
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	85,419	$	—	$	85,419	$	—
Obligations of states and political subdivisions		38,116		—		38,116		—
Corporate securities		196,793		—		196,793		—
Mortgage-backed securities		269,020		—		269,020		—
Equity securities		25,903		23,911		1,992		—
Totals	$	615,251	$	23,911	$	591,340	$	—

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Consolidated Statements of Income - USD ($)	3 Months Ended		6 Months Ended
Consolidated Statements of Income - USD ($)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues:
Net premiums earned	$ 234,311,147	$ 216,260,037	$ 462,059,826	$ 431,493,197
Investment income, net of investment expenses	11,068,499	10,157,459	22,040,826	19,606,537
Net investment gains	736,669	2,504,012	2,850,047	2,172,823
Lease income	77,504	86,708	159,327	176,055
Installment payment fees	578,727	187,703	803,389	493,078
Total revenues	246,772,546	229,195,919	487,913,415	453,941,690
Expenses:
Net losses and loss expenses	165,360,319	151,234,696	316,256,734	289,340,585
Amortization of deferred policy acquisition costs	40,656,000	37,935,000	80,258,000	75,733,000
Other underwriting expenses	34,037,409	35,948,337	75,777,277	76,559,774
Policyholder dividends	1,186,549	1,345,638	2,241,208	2,688,978
Interest	154,586	154,636	309,183	307,593
Other expenses, net	365,241	324,134	810,175	761,849
Total expenses	241,760,104	226,942,441	475,652,577	445,391,779
Income before income tax expense	5,012,442	2,253,478	12,260,838	8,549,911
Income tax expense	859,665	256,055	2,152,510	1,348,892
Net income	$ 4,152,777	$ 1,997,423	$ 10,108,328	$ 7,201,019
Class A Common Stock [Member]
Net income per share:
Basic (in dollars per share)	$ 0.13	$ 0.06	$ 0.31	$ 0.22
Diluted (in dollars per share)	0.13	0.06	0.31	0.22
Class B Common Stock [Member]
Net income per share:
Basic (in dollars per share)	0.11	0.05	0.28	0.2
Diluted (in dollars per share)	$ 0.11	$ 0.05	$ 0.28	$ 0.2

Reinsurance (Details) $ in Millions	6 Months Ended
Reinsurance (Details) $ in Millions	Jun. 30, 2024 USD ($)
Reinsurance Transactions [Abstract]
Loss reinsurance agreement contracts retention amount	$ 3.0
Workers' compensation and retention amount	4.0
Property Insurance [Member]
Reinsurance Transactions [Abstract]
Catastrophe reinsurance, set retention amount	4.0
Maximum amount of loss coverage under reinsurance agreement of property catastrophe	36.0
Liability Insurance [Member]
Reinsurance Transactions [Abstract]
Catastrophe reinsurance, set retention amount	3.0
Maximum amount of loss coverage under reinsurance agreement of property catastrophe	72.0
Workers' Compensation Insurance [Member]
Reinsurance Transactions [Abstract]
Catastrophe reinsurance, set retention amount	3.0
Maximum amount of loss coverage under reinsurance agreement of property catastrophe	$ 17.0
Third Party Reinsurance [Member]
Reinsurance Transactions [Abstract]
Percentage of accumulation of losses	100.00%
Catastrophe reinsurance, set retention amount	$ 25.0
Maximum amount of loss coverage under reinsurance agreement of property catastrophe	$ 175.0
Donegal Mutual [Member]
Reinsurance Transactions [Abstract]
Percentage of share in results of pooled business owned by third party	20.00%
Percentage of accumulation of losses	100.00%
Catastrophe reinsurance, set retention amount	$ 3.0
Maximum amount of loss coverage under reinsurance agreement of property catastrophe	22.0
Additional coverage amount	$ 6.0
Atlantic States [Member]
Reinsurance Transactions [Abstract]
Percentage of share in results of pooled business subsidiary	80.00%

Investments

6 Months Ended

Jun. 30, 2024

Investments [Abstract]

Investments

5 -	Investments

The amortized cost and estimated fair values of our fixed maturities at June 30, 2024 were as follows:

	Carrying Value		Allowance for Credit Losses		Amortized Cost			Gross Unrealized Gains			Gross Unrealized Losses			Estimated Fair Value
					(in thousands)
Held to Maturity
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	93,404	$	56		$	93,460		$	9		$	9,476		$	83,993
Obligations of states and political subdivisions		376,833		269			377,102			625			53,705			324,022
Corporate securities		207,881		1,021			208,902			164			15,883			193,183
Mortgage-backed securities		12,462		8			12,470			—			422			12,048
Totals	$	690,580	$	1,354		$	691,934		$	798		$	79,486		$	613,246

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(in thousands)
Available for Sale
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	94,952	$	42	$	4,476	$	90,518
Obligations of states and political subdivisions		41,827		9		4,503		37,333
Corporate securities		207,842		54		13,258		194,638
Mortgage-backed securities		302,528		106		20,955		281,679
Totals	$	647,149	$	211	$	43,192	$	604,168

At June 30, 2024, our holdings of obligations of states and political subdivisions included general obligation bonds with an aggregate fair value of $235.3 million and an amortized cost of $274.4 million. Our holdings at June 30, 2024 also included special revenue bonds with an aggregate fair value of $126.1 million and an amortized cost of $144.5 million. With respect to both categories of those bonds at June 30, 2024, we held no securities of any issuer that comprised more than 10% of our holdings of either bond category. Education bonds and water and sewer utility bonds represented 45% and 35%, respectively, of our total investments in special revenue bonds based on the carrying values of these investments at June 30, 2024. Many of the issuers of the special revenue bonds we held at June 30, 2024 have the authority to impose ad valorem taxes. In that respect, many of the special revenue bonds we held are similar to general obligation bonds.

The amortized cost and estimated fair values of our fixed maturities at December 31, 2023 were as follows:

	Carrying Value		Allowance for Credit Losses		Amortized Cost			Gross Unrealized Gains			Gross Unrealized Losses			Estimated Fair Value
					(in thousands)
Held to Maturity
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	91,518	$	54		$	91,572		$	—		$	8,885		$	82,687
Obligations of states and political subdivisions		376,898		266			377,164			1,449			46,845			331,768
Corporate securities		201,847		1,000			202,847			207			14,805			188,249
Mortgage-backed securities		9,234		6			9,240			—			418			8,822
Totals	$	679,497	$	1,326		$	680,823		$	1,656		$	70,953		$	611,526

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(in thousands)
Available for Sale
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	89,367	$	199	$	4,147	$	85,419
Obligations of states and political subdivisions		41,958		12		3,854		38,116
Corporate securities		211,882		100		15,189		196,793
Mortgage-backed securities		286,520		594		18,094		269,020
Totals	$	629,727	$	905	$	41,284	$	589,348

At December 31, 2023, our holdings of obligations of states and political subdivisions included general obligation bonds with an aggregate fair value of $245.1 million and an amortized cost of $278.3 million. Our holdings also included special revenue bonds with an aggregate fair value of $124.8 million and an amortized cost of $140.8 million. With respect to both categories of bonds, we held no securities of any issuer that comprised more than 10% of that category at December 31, 2023. Education bonds and water and sewer utility bonds represented 47% and 35%, respectively, of our total investments in special revenue bonds based on their carrying values at December 31, 2023. Many of the issuers of the special revenue bonds we held at December 31, 2023 have the authority to impose ad valorem taxes. In that respect, many of the special revenue bonds we held are similar to general obligation bonds.

We have segregated within accumulated other comprehensive loss the net unrealized losses of $15.1 million arising prior to the November 30, 2013 reclassification date for fixed maturities reclassified from available for sale to held to maturity. We are amortizing this balance over the remaining life of the related securities as an adjustment of yield in a manner consistent with the accretion of discount on the same fixed maturities. We recorded amortization of $97,684 and $134,775 in other comprehensive loss during the six months ended June 30, 2024 and 2023, respectively. At June 30, 2024 and December 31, 2023, net unrealized losses of $1.2 million and $1.3 million, respectively, remained within accumulated other comprehensive loss.

We show below the amortized cost and estimated fair value of our fixed maturities at June 30, 2024 by contractual maturity. Expected maturities may differ from contractual maturities because issuers of the securities may have the right to call or prepay obligations with or without call or prepayment penalties.

	Amortized Cost		Estimated Fair Value
	(in thousands)
Held to maturity
Due in one year or less	$	38,451	$	37,894
Due after one year through five years		130,089		121,597
Due after five years through ten years		242,095		219,387
Due after ten years		268,829		222,320
Mortgage-backed securities		12,470		12,048
Total held to maturity	$	691,934	$	613,246

Available for sale
Due in one year or less	$	57,703	$	56,838
Due after one year through five years		171,272		161,287
Due after five years through ten years		92,540		84,403
Due after ten years		23,106		19,961
Mortgage-backed securities		302,528		281,679
Total available for sale	$	647,149	$	604,168

The cost and estimated fair values of our equity securities at June 30, 2024 were as follows:

	Cost		Gross Gains		Gross Losses		Estimated Fair Value
	(in thousands)
Equity securities	$	22,524	$	10,042	$	110	$	32,456

The cost and estimated fair values of our equity securities at December 31, 2023 were as follows:

	Cost		Gross Gains		Gross Losses		Estimated Fair Value
	(in thousands)
Equity securities	$	18,844	$	7,059	$	—	$	25,903

We present below gross gains and losses from investments and the change in the difference between fair value and cost of investments:

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
	(in thousands)						(in thousands)
Gross realized gains:
Fixed maturities	$	82		$	419		$	5		$	441
Equity securities		—			—			—			285
		82			419			5			726
Gross realized losses:
Fixed maturities		—			272			—			2,494
Equity securities		—			5			—			51
		—			277			—			2,545
Net realized gains (losses)		82			142			5			(1,819	)
Gross unrealized gains on equity securities		727			2,473			2,983			4,675
Gross unrealized losses on equity securities		(47	)		(142	)		(110	)		(627	)
Fixed maturities - credit impairment charges		(25	)		31			(28	)		(56	)
Net investment gains	$	737		$	2,504		$	2,850		$	2,173

We held fixed maturities with unrealized losses at June 30, 2024 as follows:

	Less Than 12 Months				More Than 12 Months
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(in thousands)
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	40,893	$	316	$	127,737	$	13,636
Obligations of states and political subdivisions		48,038		1,069		286,569		57,139
Corporate securities		43,123		1,031		327,109		28,110
Mortgage-backed securities		64,748		407		207,386		20,970
Totals	$	196,802	$	2,823	$	948,801	$	119,855

We held fixed maturities with unrealized losses at December 31, 2023 as follows:

	Less Than 12 Months				More Than 12 Months
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(in thousands)
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	32,224	$	217	$	116,538	$	12,815
Obligations of states and political subdivisions		13,097		68		307,429		50,631
Corporate securities		13,066		324		353,863		29,670
Mortgage-backed securities		46,964		221		178,113		18,291
Totals	$	105,351	$	830	$	955,943	$	111,407

We make estimates concerning the valuation of our investments and, as applicable, the recognition of declines in the value of our investments. For equity securities, we measure investments at fair value, and we recognize changes in fair value in our results of operations. With respect to an available-for-sale debt security that is in an unrealized loss position, we first assess if we intend to sell the debt security. If we determine we intend to sell the debt security, we recognize the impairment loss in our results of operations. If we do not intend to sell the debt security, we determine whether it is more likely than not that we will be required to sell the debt security prior to recovery. If we determine it is more likely than not that we will be required to sell the debt security prior to recovery, we recognize the impairment loss in our results of operations. If we determine it is more likely than not that we will not be required to sell the debt security prior to recovery, we then evaluate whether a credit loss has occurred with respect to that security. We determine whether a credit loss has occurred by comparing the amortized cost of the debt security to the present value of the cash flows we expect to collect. If we expect a cash flow shortfall, we consider that a credit loss has occurred. If we determine that a credit loss has occurred, we establish an allowance for credit loss. We then recognize the amount of the allowance in our results of operations, and we recognize the remaining portion of the impairment loss in our other comprehensive income, net of applicable taxes. We regularly review the allowance for credit losses and recognize changes in the allowance in our results of operations. In addition, we may write down securities in an unrealized loss position based on a number of other factors, including when the fair value of an investment is significantly below its cost, when the financial condition of the issuer of a security has deteriorated, the occurrence of industry, issuer or geographic events that have negatively impacted the value of a security and rating agency downgrades. For held-to-maturity debt securities, we make estimates concerning expected credit losses at an aggregated level rather that monitoring individual debt securities for credit losses. We establish an allowance for expected credit losses based on an ongoing review of securities held, historical loss data, changes in issuer credit standing and other relevant factors. We utilize a probability-of-default methodology, which reflects current and forecasted economic conditions, to estimate the allowance for expected credit losses and recognize changes to the allowance in our results of operations. We held 916 debt securities that were in an unrealized loss position at June 30, 2024. Based upon our analysis of general market conditions and underlying factors impacting these debt securities, we considered these declines in value to be temporary.

We amortize premiums and discounts on debt securities over the life of the security as an adjustment to yield using the effective interest method. We compute realized investment gains and losses using the specific identification method.

We amortize premiums and discounts on mortgage-backed debt securities using anticipated prepayments.

Share-Based Compensation

6 Months Ended

Jun. 30, 2024

Share-Based Compensation [Abstract]

Share-Based Compensation

8 -	Share–Based Compensation

We measure all share-based payments to employees, including grants of stock options, and use a fair-value-based method for the recording of related compensation expense in our results of operations. In determining the expense we record for stock options granted to directors and employees of our subsidiaries and affiliates, we estimate the fair value of each option award on the date of grant using the Black-Scholes option pricing model. The significant assumptions we utilize in applying the Black-Scholes option pricing model are the risk-free interest rate, the expected term, the dividend yield and the expected volatility.

We recorded compensation expense related to our stock compensation plans of $278,337 and $249,481 for the three months ended June 30, 2024 and 2023, respectively, with a corresponding income tax benefit of $58,451 and $52,391, respectively. We recorded compensation expense related to our stock compensation plans of $564,338 and $501,254 for the six months ended June 30, 2024 and 2023, respectively, with a corresponding income tax benefit of $118,511 and $105,263, respectively. At June 30, 2024, we had $1.3 million of unrecognized compensation expense related to nonvested share-based compensation granted under our stock compensation plans that we expect to recognize over a weighted average period of approximately 1.7 years.

We did not receive any cash from option exercises under our stock compensation plans during the three months ended June 30, 2024. We received cash from option exercises under our stock compensation plans during the three months ended June 30, 2023 of $2.7 million. We received cash from option exercises under our stock compensation plans during the six months ended June 30, 2024 and 2023 of $236,624 and $4.7 million, respectively. We realized actual tax benefits for the tax deductions related to those option exercises of $0 and $66,955 for the three months ended June 30, 2024 and 2023, respectively. We realized actual tax benefits for the tax deductions related to those option exercises of $1,719 and $113,143 for the six months ended June 30, 2024 and 2023, respectively.

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Measurements [Abstract]

Investments in Available-for-Sale Fixed Maturity and Equity Securities

The following table presents our fair value measurements for our investments in available-for-sale fixed maturity and equity securities at June 30, 2024:

	Fair Value Measurements Using
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(in thousands)
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	90,518	$	—	$	90,518	$	—
Obligations of states and political subdivisions		37,333		—		37,333		—
Corporate securities		194,638		—		194,638		—
Mortgage-backed securities		281,679		—		281,679		—
Equity securities		32,456		30,451		2,005		—
Total investments in the fair value hierarchy	$	636,624	$	30,451	$	606,173	$	—

The following table presents our fair value measurements for our investments in available-for-sale fixed maturity and equity securities at December 31, 2023:

	Fair Value Measurements Using
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(in thousands)
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	85,419	$	—	$	85,419	$	—
Obligations of states and political subdivisions		38,116		—		38,116		—
Corporate securities		196,793		—		196,793		—
Mortgage-backed securities		269,020		—		269,020		—
Equity securities		25,903		23,911		1,992		—
Totals	$	615,251	$	23,911	$	591,340	$	—

Impact of New Accounting Standards (Policies)	6 Months Ended
Impact of New Accounting Standards (Policies)	Jun. 30, 2024
Impact of New Accounting Standards [Abstract]
Impact of New Accounting Standards	In September 2016, the FASB issued guidance that amended previous guidance on the impairment of financial instruments by adding an impairment model that requires an entity to recognize expected credit losses as an allowance rather than impairments as credit losses are incurred. The intent of this guidance is to reduce complexity and result in a more timely recognition of expected credit losses. In November 2019, the FASB issued guidance that delayed the effective date for “smaller reporting companies,” as defined in Item 10(f)(1) of Regulation S-K, to annual and interim reporting periods beginning after December 15, 2022 from December 15, 2019. We were a smaller reporting company at the time this guidance was issued, and our adoption of this guidance on January 1, 2023 resulted in an after-tax decrease in retained earnings of $1.9 million. The adoption of this guidance did not have a significant impact on our results of operations or cash flows.

Borrowings, Line of Credit (Details) - USD ($)	6 Months Ended
Borrowings, Line of Credit (Details) - USD ($)	Jun. 30, 2024	Aug. 31, 2020
Line of Credit Facility [Abstract]
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]	us-gaap:SecuredOvernightFinancingRateSofrMember
FHLB of Pittsburgh [Member] \| Atlantic States [Member]
Federal Home Loan Bank of Stock Purchased, Collateral Pledged and Assets Related [Abstract]
FHLB stock purchased and owned	$ 1,605,000
Collateral pledged, at par (carrying value $39,592,120)	43,096,513
Borrowing capacity currently available	2,220,037
FHLB of Pittsburgh [Member] \| Atlantic States [Member] \| Asset Pledged as Collateral without Right [Member]
Federal Home Loan Bank of Stock Purchased, Collateral Pledged and Assets Related [Abstract]
Collateral pledged at carrying value	39,592,120
Lines of Credit [Member] \| Manufacturers and Traders Trust Company [Member]
Line of Credit Facility [Abstract]
Unsecured demand line of credit		$ 20,000,000
Outstanding borrowings	0
Line of credit facility remaining borrowing capacity	$ 20,000,000
Interest rate	2.11%
Lines of Credit [Member] \| FHLB of Pittsburgh [Member] \| Atlantic States [Member]
Line of Credit Facility [Abstract]
Federal home loan bank, cash advance at fixed rate advances	$ 35,000,000
Fixed interest rate on advance	1.74%
Debt instrument due date	Aug. 31, 2024

Investments, Summary (Details) - USD ($)		6 Months Ended		12 Months Ended
Investments, Summary (Details) - USD ($)	Nov. 30, 2013	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Investments [Abstract]
Net unrealized losses arising prior to reclassification date	$ (15,100,000)
Amortization of other comprehensive loss		$ 97,684	$ 134,775
Accumulated other comprehensive loss		$ (34,859,564)		$ (32,881,822)
Minimum [Member]
Investments [Abstract]
Percentage of which the company held security of any issuer		10.00%		10.00%
Obligations of States and Political Subdivisions [Member]
Investments [Abstract]
Aggregate fair value of bond held		$ 235,300,000		$ 245,100,000
Amortized cost of bond held		274,400,000		278,300,000
Special Revenue Bonds [Member]
Investments [Abstract]
Aggregate fair value of bond held		126,100,000		124,800,000
Amortized cost of bond held		$ 144,500,000		$ 140,800,000
Education Bonds [Member]
Investments [Abstract]
Percentage of investments in special revenue bonds		45.00%		47.00%
Water and Sewer Utility Bonds [Member]
Investments [Abstract]
Percentage of investments in special revenue bonds		35.00%		35.00%
Accumulated Net Unrealized Investment Losses [Member]
Investments [Abstract]
Accumulated other comprehensive loss		$ (1,200,000)		$ (1,300,000)

Net Income Per Share (Tables)

6 Months Ended

Jun. 30, 2024

Net Income Per Share [Abstract]

Reconciliation of Numerators and Denominators Used in Basic and Diluted Per Share Computations

The table below presents for the periods indicated a reconciliation of the numerators and denominators we used to compute basic and diluted net income per share for our Class A common stock and our Class B common stock:

	Three Months Ended June 30,
	2024				2023
	Class A		Class B		Class A		Class B
	(in thousands, except per share data)
Basic net income per share:
Numerator:
Allocation of net income	$	3,522	$	631	$	1,694	$	303
Denominator:
Weighted-average shares outstanding		27,845		5,577		27,382		5,577
Basic net income per share	$	0.13	$	0.11	$	0.06	$	0.05

Diluted net income per share:
Numerator:
Allocation of net income	$	3,522	$	631	$	1,694	$	303
Denominator:
Number of shares used in basic computation		27,845		5,577		27,382		5,577
Weighted-average shares effect of dilutive securities:
Director and employee stock options		—		—		107		—
Number of shares used in diluted computation		27,845		5,577		27,489		5,577
Diluted net income per share	$	0.13	$	0.11	$	0.06	$	0.05

	Six Months Ended June 30,
	2024				2023
	Class A		Class B		Class A		Class B
	(in thousands, except per share data)
Basic net income per share:
Numerator:
Allocation of net income	$	8,561	$	1,547	$	6,085	$	1,116
Denominator:
Weighted-average shares outstanding		27,828		5,577		27,288		5,577
Basic net income per share	$	0.31	$	0.28	$	0.22	$	0.20

Diluted net income per share:
Numerator:
Allocation of net income	$	8,561	$	1,547	$	6,085	$	1,116
Denominator:
Number of shares used in basic computation		27,828		5,577		27,288		5,577
Weighted-average shares effect of dilutive securities:
Director and employee stock options		18		—		140		—
Number of shares used in diluted computation		27,846		5,577		27,428		5,577
Diluted net income per share	$	0.31	$	0.28	$	0.22	$	0.20

Antidilutive Securities Excluded From Computation of Earnings Per Share

We did not include outstanding options to purchase the following number of shares of Class A common stock in our computation of diluted net income per share because the exercise price of the options exceeded the average market price of our Class A common stock during the applicable periods.

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(in thousands)
Number of options to purchase Class A shares excluded		4,942		2,262		1,697		2,262

Allowance for Expected Credit Losses, Reinsurance Receivable (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Reinsurance Receivable, Net of Allowance for Expected Credit Losses [Abstract]
Balance at beginning of period	$ 435,505,000	$ 460,681,000	$ 441,431,334	$ 456,522,000
Balance at end of period	440,857,671	450,680,000	440,857,671	450,680,000
Allowance for Expected Credit Losses [Abstract]
Balance at beginning of period	1,026,000	1,467,000	$ 1,394,074	$ 0
Accounting Standards Update [Extensible Enumeration]			ASU 2016-13 [Member]	ASU 2016-13 [Member]
Current period change for expected credit losses	(94,000)	100,000	$ (462,000)	$ 435,000
Balance at end of period	$ 932,350	$ 1,567,000	932,350	1,567,000
Cumulative Effect, Period of Adoption, Adjustment [Member]
Allowance for Expected Credit Losses [Abstract]
Balance at beginning of period			$ 0	$ 1,132,000

- Definition

Indicates amendment to accounting standards.

+ References

+ Details

Borrowings (Tables)

6 Months Ended

Jun. 30, 2024

FHLB of Pittsburgh [Member]

Line of Credit Facility [Line Items]

FHLB of Stock Purchased, Collateral Pledged and Assets Related

The table below presents the amount of FHLB of Pittsburgh stock Atlantic States purchased, collateral pledged and assets related to Atlantic States’ membership in the FHLB of Pittsburgh at June 30, 2024.

FHLB of Pittsburgh stock purchased and owned	$	1,605,000
Collateral pledged, at par (carrying value $39,592,120)		43,096,513
Borrowing capacity currently available		2,220,037

Organization (Details)	6 Months Ended
Organization (Details)	Jun. 30, 2024 Segment
Organization [Abstract]
Number of operating segments	3
Donegal Mutual Insurance Company [Member]
Organization [Abstract]
Voting power percentage of outstanding common stock	71.00%
Premiums and losses related to certain products	100.00%
Donegal Mutual Insurance Company [Member] \| Class A Common Stock [Member]
Organization [Abstract]
Stock ownership percentage held by major shareholder	43.00%
Donegal Mutual Insurance Company [Member] \| Class B Common Stock [Member]
Organization [Abstract]
Stock ownership percentage held by major shareholder	84.00%
Atlantic States [Member]
Organization [Abstract]
Percentage of share in results of pooled business subsidiary	80.00%

Investments (Tables)

6 Months Ended

Jun. 30, 2024

Investments [Abstract]

Amortized Cost and Estimated Fair Values of Fixed Maturities

The amortized cost and estimated fair values of our fixed maturities at June 30, 2024 were as follows:

	Carrying Value		Allowance for Credit Losses		Amortized Cost			Gross Unrealized Gains			Gross Unrealized Losses			Estimated Fair Value
					(in thousands)
Held to Maturity
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	93,404	$	56		$	93,460		$	9		$	9,476		$	83,993
Obligations of states and political subdivisions		376,833		269			377,102			625			53,705			324,022
Corporate securities		207,881		1,021			208,902			164			15,883			193,183
Mortgage-backed securities		12,462		8			12,470			—			422			12,048
Totals	$	690,580	$	1,354		$	691,934		$	798		$	79,486		$	613,246

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(in thousands)
Available for Sale
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	94,952	$	42	$	4,476	$	90,518
Obligations of states and political subdivisions		41,827		9		4,503		37,333
Corporate securities		207,842		54		13,258		194,638
Mortgage-backed securities		302,528		106		20,955		281,679
Totals	$	647,149	$	211	$	43,192	$	604,168

The amortized cost and estimated fair values of our fixed maturities at December 31, 2023 were as follows:

	Carrying Value		Allowance for Credit Losses		Amortized Cost			Gross Unrealized Gains			Gross Unrealized Losses			Estimated Fair Value
					(in thousands)
Held to Maturity
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	91,518	$	54		$	91,572		$	—		$	8,885		$	82,687
Obligations of states and political subdivisions		376,898		266			377,164			1,449			46,845			331,768
Corporate securities		201,847		1,000			202,847			207			14,805			188,249
Mortgage-backed securities		9,234		6			9,240			—			418			8,822
Totals	$	679,497	$	1,326		$	680,823		$	1,656		$	70,953		$	611,526

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(in thousands)
Available for Sale
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	89,367	$	199	$	4,147	$	85,419
Obligations of states and political subdivisions		41,958		12		3,854		38,116
Corporate securities		211,882		100		15,189		196,793
Mortgage-backed securities		286,520		594		18,094		269,020
Totals	$	629,727	$	905	$	41,284	$	589,348

Amortized Cost and Estimated Fair Value of Fixed Maturities by Contractual Maturity

	Amortized Cost		Estimated Fair Value
	(in thousands)
Held to maturity
Due in one year or less	$	38,451	$	37,894
Due after one year through five years		130,089		121,597
Due after five years through ten years		242,095		219,387
Due after ten years		268,829		222,320
Mortgage-backed securities		12,470		12,048
Total held to maturity	$	691,934	$	613,246

Available for sale
Due in one year or less	$	57,703	$	56,838
Due after one year through five years		171,272		161,287
Due after five years through ten years		92,540		84,403
Due after ten years		23,106		19,961
Mortgage-backed securities		302,528		281,679
Total available for sale	$	647,149	$	604,168

Cost and Estimated Fair Values of Equity Securities

The cost and estimated fair values of our equity securities at June 30, 2024 were as follows:

	Cost		Gross Gains		Gross Losses		Estimated Fair Value
	(in thousands)
Equity securities	$	22,524	$	10,042	$	110	$	32,456

The cost and estimated fair values of our equity securities at December 31, 2023 were as follows:

	Cost		Gross Gains		Gross Losses		Estimated Fair Value
	(in thousands)
Equity securities	$	18,844	$	7,059	$	—	$	25,903

Gross Investment Gains and Losses before Applicable Income Taxes

We present below gross gains and losses from investments and the change in the difference between fair value and cost of investments:

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
	(in thousands)						(in thousands)
Gross realized gains:
Fixed maturities	$	82		$	419		$	5		$	441
Equity securities		—			—			—			285
		82			419			5			726
Gross realized losses:
Fixed maturities		—			272			—			2,494
Equity securities		—			5			—			51
		—			277			—			2,545
Net realized gains (losses)		82			142			5			(1,819	)
Gross unrealized gains on equity securities		727			2,473			2,983			4,675
Gross unrealized losses on equity securities		(47	)		(142	)		(110	)		(627	)
Fixed maturities - credit impairment charges		(25	)		31			(28	)		(56	)
Net investment gains	$	737		$	2,504		$	2,850		$	2,173

Fixed Maturities with Unrealized Losses

We held fixed maturities with unrealized losses at June 30, 2024 as follows:

	Less Than 12 Months				More Than 12 Months
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(in thousands)
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	40,893	$	316	$	127,737	$	13,636
Obligations of states and political subdivisions		48,038		1,069		286,569		57,139
Corporate securities		43,123		1,031		327,109		28,110
Mortgage-backed securities		64,748		407		207,386		20,970
Totals	$	196,802	$	2,823	$	948,801	$	119,855

We held fixed maturities with unrealized losses at December 31, 2023 as follows:

	Less Than 12 Months				More Than 12 Months
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(in thousands)
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	32,224	$	217	$	116,538	$	12,815
Obligations of states and political subdivisions		13,097		68		307,429		50,631
Corporate securities		13,066		324		353,863		29,670
Mortgage-backed securities		46,964		221		178,113		18,291
Totals	$	105,351	$	830	$	955,943	$	111,407

Impact of New Accounting Standards

6 Months Ended

Jun. 30, 2024

Impact of New Accounting Standards [Abstract]

Impact of New Accounting Standards

13 -	Impact of New Accounting Standards

In September 2016, the FASB issued guidance that amended previous guidance on the impairment of financial instruments by adding an impairment model that requires an entity to recognize expected credit losses as an allowance rather than impairments as credit losses are incurred. The intent of this guidance is to reduce complexity and result in a more timely recognition of expected credit losses. In November 2019, the FASB issued guidance that delayed the effective date for “smaller reporting companies,” as defined in Item 10(f)(1) of Regulation S-K, to annual and interim reporting periods beginning after December 15, 2022 from December 15, 2019. We were a smaller reporting company at the time this guidance was issued, and our adoption of this guidance on January 1, 2023 resulted in an after-tax decrease in retained earnings of $1.9 million. The adoption of this guidance did not have a significant impact on our results of operations or cash flows.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

+ Details

Organization (Policies)	6 Months Ended
Organization (Policies)	Jun. 30, 2024
Organization [Abstract]
Organization	Donegal Mutual Insurance Company (“Donegal Mutual”) organized us as an insurance holding company on August 26, 1986. Our insurance subsidiaries are Atlantic States Insurance Company (“Atlantic States”), Michigan Insurance Company (“MICO”), the Peninsula Insurance Group (“Peninsula”), which consists of The Peninsula Insurance Company and its wholly owned subsidiary Peninsula Indemnity Company, and Southern Insurance Company of Virginia (“Southern”). Our insurance subsidiaries and their affiliates write commercial and personal lines of property and casualty coverages exclusively through a network of independent insurance agents in certain Mid-Atlantic, Midwestern, New England, Southern and Southwestern states. At June 30, 2024, we had three segments: our investment function, our commercial lines of insurance and our personal lines of insurance. The commercial lines products of our insurance subsidiaries consist primarily of commercial automobile, commercial multi-peril and workers’ compensation policies. The personal lines products of our insurance subsidiaries consist primarily of homeowners and private passenger automobile policies. At June 30, 2024, Donegal Mutual held approximately 43% of our outstanding Class A common stock and approximately 84% of our outstanding Class B common stock. This ownership provides Donegal Mutual with approximately 71% of the total voting power of our common stock. Our insurance subsidiaries and Donegal Mutual have interrelated operations due to a pooling agreement and other intercompany agreements and transactions. While each company maintains its separate corporate existence, our insurance subsidiaries and Donegal Mutual conduct business together as the Donegal Insurance Group. As such, Donegal Mutual and our insurance subsidiaries share the same business philosophy, the same management, the same employees and the same facilities and offer the same types of insurance products. Atlantic States, our largest subsidiary, participates in a proportional reinsurance agreement (the “pooling agreement”) with Donegal Mutual. Under the pooling agreement, Donegal Mutual and Atlantic States contribute substantially all of their respective premiums, losses and loss expenses to the underwriting pool, and the underwriting pool, acting through Donegal Mutual, then allocates 80% of the pooled business to Atlantic States. Thus, Donegal Mutual and Atlantic States share the underwriting results of the pooled business in proportion to their respective participation in the underwriting pool. In addition, Donegal Mutual has 100% quota-share reinsurance agreements with Mountain States Commercial Insurance Company, Mountain States Indemnity Company and Southern Mutual Insurance Company. Donegal Mutual places its assumed business from these companies into the underwriting pool. The same executive management and underwriting personnel administer products, classes of business underwritten, pricing practices and underwriting standards of Donegal Mutual and our insurance subsidiaries. In addition, as the Donegal Insurance Group, Donegal Mutual and our insurance subsidiaries share a combined business plan to achieve market penetration and underwriting profitability objectives. The products our insurance subsidiaries and Donegal Mutual market are generally complementary, thereby allowing the Donegal Insurance Group to offer a broader range of products to a given market and to expand the Donegal Insurance Group’s ability to service an entire personal lines or commercial lines account. Distinctions within the products of Donegal Mutual and our insurance subsidiaries generally relate to specific risk profiles targeted within similar classes of business, such as preferred tier versus standard tier products, but we do not allocate all of the standard risk gradients to one company. Therefore, the underwriting profitability of the business the individual companies write directly will vary. However, the underwriting pool homogenizes the risk characteristics of all business that Donegal Mutual and Atlantic States write directly. The business Atlantic States derives from the underwriting pool represents a significant percentage of our total consolidated revenues.

Consolidated Statements of Comprehensive Income (Loss) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Consolidated Statements of Comprehensive Income (Loss) [Abstract]
Net income	$ 4,152,777	$ 1,997,423	$ 10,108,328	$ 7,201,019
Unrealized loss on securities:
Unrealized holding loss during the period, net of income tax benefit of $82,974 and $1,964,085	(312,138)	(7,388,700)	(1,974,298)	(5,118,804)
Reclassification adjustment for (gains) losses included in net income, net of income tax expense (benefit)	(64,314)	(116,633)	(3,444)	1,621,109
Other comprehensive loss	(376,452)	(7,505,333)	(1,977,742)	(3,497,695)
Comprehensive income (loss)	$ 3,776,325	$ (5,507,910)	$ 8,130,586	$ 3,703,324

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Amount after tax and reclassification adjustments of other comprehensive income (loss).

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+ Details

Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Fixed maturities
Held to maturity, allowance for expected credit losses	$ 1,353,571	$ 1,325,847
Reinsurance receivable, allowance for expected credit losses	$ 932,350	$ 1,394,074
Stockholders' Equity
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	2,000,000	2,000,000
Preferred stock, shares issued (in shares)	0	0
Class A Common Stock [Member]
Stockholders' Equity
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	30,862,670	30,764,555
Common stock, shares outstanding (in shares)	27,860,082	27,761,967
Class B Common Stock [Member]
Stockholders' Equity
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, shares issued (in shares)	5,649,240	5,649,240
Common stock, shares outstanding (in shares)	5,576,775	5,576,775

Income Taxes

6 Months Ended

Jun. 30, 2024

Income Taxes [Abstract]

Income Taxes

10 -	Income Taxes

At June 30, 2024 and December 31, 2023, respectively, we had no material unrecognized tax benefits or accrued interest and penalties. In 2019, the Internal Revenue Service (“IRS”) began a federal income tax audit of our consolidated tax returns for tax years 2016 to 2018. No material issues have been raised and no adjustments have been proposed as a result of this ongoing audit. We provide a valuation allowance when we believe it is more likely than not that we will not realize some portion of our tax assets. We established a valuation allowance of $8.1 million for our net state operating loss carryforward, which will expire between 2024 and 2043. We have determined that we are not required to establish a valuation allowance for our other deferred tax assets of $40.4 million and $38.4 million at June 30, 2024 and December 31, 2023, respectively, because it is more likely than not that we will realize these deferred tax assets through reversals of existing temporary differences, future taxable income and the implementation of tax planning strategies.

- Definition

The entire disclosure for income tax.

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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

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-URI https://asc.fasb.org/740/tableOfContent

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-Section 50
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-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Segment Information

6 Months Ended

Jun. 30, 2024

Segment Information [Abstract]

Segment Information

6 -	Segment Information

We evaluate the performance of our personal lines and commercial lines segments based upon the underwriting results of our insurance subsidiaries using statutory accounting principles (“SAP”) that various state insurance departments prescribe or permit. Our management uses SAP to measure the performance of our insurance subsidiaries instead of United States generally accepted accounting principles (“GAAP”). SAP financial measures are considered non-GAAP financial measures under applicable SEC rules because they include or exclude certain items that the most comparable GAAP financial measures do not ordinarily include or exclude.

Financial data by segment for the three and six months ended June 30, 2024 and 2023 is as follows:

	Three Months Ended June 30,
	2024			2023
	(in thousands)
Revenues:
Premiums earned:
Commercial lines	$	134,489		$	130,808
Personal lines		99,822			85,452
GAAP premiums earned		234,311			216,260
Net investment income		11,068			10,157
Investment gains		737			2,504
Other		657			275
Total revenues	$	246,773		$	229,196
Income before income tax expense:
Underwriting loss:
Commercial lines	$	(9,319	)	$	(5,429	)
Personal lines		(405	)		(6,424	)
SAP underwriting loss		(9,724	)		(11,853	)
GAAP adjustments		2,795			1,649
GAAP underwriting loss		(6,929	)		(10,204	)
Net investment income		11,068			10,157
Investment gains		737			2,504
Other		136			(204	)
Income before income tax expense	$	5,012		$	2,253

	Six Months Ended June 30,
	2024			2023
	(in thousands)
Revenues:
Premiums earned:
Commercial lines	$	266,581		$	263,995
Personal lines		195,479			167,498
GAAP premiums earned		462,060			431,493
Net investment income		22,041			19,607
Investment gains		2,850			2,173
Other		962			669
Total revenues	$	487,913		$	453,942
Income before income tax expense:
Underwriting loss:
Commercial lines	$	(19,690	)	$	(13,353	)
Personal lines		(937	)		(5,562	)
SAP underwriting loss		(20,627	)		(18,915	)
GAAP adjustments		8,154			6,086
GAAP underwriting loss		(12,473	)		(12,829	)
Net investment income		22,041			19,607
Investment gains		2,850			2,173
Other		(157	)		(401	)
Income before income tax expense	$	12,261		$	8,550

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Consolidated Balance Sheets - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Fixed maturities
Held to maturity, at amortized cost (net of allowance for expected credit losses of $1,353,571 and $1,325,847)	$ 690,580,051	$ 679,497,038
Available for sale, at fair value	604,168,056	589,348,243
Equity securities, at fair value	32,455,954	25,902,956
Short-term investments, at cost, which approximates fair value	16,570,667	32,305,408
Total investments	1,343,774,728	1,327,053,645
Cash	24,225,596	23,792,273
Accrued investment income	10,323,445	9,945,714
Premiums receivable	203,813,652	179,591,821
Reinsurance receivable (net of allowance for expected credit losses of $932,350 and $1,394,074)	440,857,671	441,431,334
Deferred policy acquisition costs	80,926,482	75,043,404
Deferred tax asset, net	19,710,757	19,532,525
Prepaid reinsurance premiums	186,323,040	168,724,465
Property and equipment, net	2,555,448	2,633,405
Accounts receivable - securities	1,052	1,501,079
Federal income taxes recoverable	6,322,318	8,102,321
Due from affiliate	9,819,685	1,907,527
Goodwill	5,625,354	5,625,354
Other intangible assets	958,010	958,010
Other	15,961	451,011
Total assets	2,335,253,199	2,266,293,888
Liabilities
Losses and loss expenses	1,147,418,755	1,126,156,838
Unearned premiums	653,579,467	599,411,468
Accrued expenses	3,511,439	3,946,974
Reinsurance balances payable	3,935,320	8,758,976
Borrowings under lines of credit	35,000,000	35,000,000
Cash dividends declared to stockholders	0	5,569,992
Other	7,732,351	7,704,286
Total liabilities	1,851,177,332	1,786,548,534
Stockholders' Equity
Preferred stock, $.01 par value, authorized 2,000,000 shares; none issued	0	0
Additional paid-in capital	337,772,950	335,694,478
Accumulated other comprehensive loss	(34,859,564)	(32,881,822)
Retained earnings	222,023,719	217,794,917
Treasury stock, at cost	(41,226,357)	(41,226,357)
Total stockholders' equity	484,075,867	479,745,354
Total liabilities and stockholders' equity	2,335,253,199	2,266,293,888
Class A Common Stock [Member]
Stockholders' Equity
Common stock	308,627	307,646
Class B Common Stock [Member]
Stockholders' Equity
Common stock	$ 56,492	$ 56,492

Impact of New Accounting Standards (Details) $ in Millions	36 Months Ended
Impact of New Accounting Standards (Details) $ in Millions	Dec. 15, 2022 USD ($)
Impact of New Accounting Standard [Abstract]
After tax decrease in retained earnings	$ (1.9)

Income Taxes (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Operating Loss Carryforwards [Abstract]
Other deferred tax assets, net	$ 40.4	$ 38.4
DGI Parent [Member]
Operating Loss Carryforwards [Abstract]
Valuation allowance related to the portion of operating loss carryforwards	$ 8.1

Net Income Per Share

6 Months Ended

Jun. 30, 2024

Net Income Per Share [Abstract]

Net Income Per Share

3 -	Net Income Per Share

We have two classes of common stock, which we refer to as our Class A common stock and our Class B common stock. Our certificate of incorporation provides that whenever our board of directors declares a dividend on our Class B common stock, our board of directors shall simultaneously declare a dividend on our Class A common stock that is payable to the holders of our Class A common stock at the same time and as of the same record date at a rate that is at least 10% greater than the rate at which our board of directors declared a dividend on our Class B common stock. Accordingly, we use the two-class method to compute our net income per share. The two-class method is an earnings allocation formula that determines net income per share separately for each class of common stock based on dividends we have declared and an allocation of our remaining undistributed net income using a participation percentage that reflects the dividend rights of each class. The table below presents for the periods indicated a reconciliation of the numerators and denominators we used to compute basic and diluted net income per share for our Class A common stock and our Class B common stock:

	Three Months Ended June 30,
	2024				2023
	Class A		Class B		Class A		Class B
	(in thousands, except per share data)
Basic net income per share:
Numerator:
Allocation of net income	$	3,522	$	631	$	1,694	$	303
Denominator:
Weighted-average shares outstanding		27,845		5,577		27,382		5,577
Basic net income per share	$	0.13	$	0.11	$	0.06	$	0.05

Diluted net income per share:
Numerator:
Allocation of net income	$	3,522	$	631	$	1,694	$	303
Denominator:
Number of shares used in basic computation		27,845		5,577		27,382		5,577
Weighted-average shares effect of dilutive securities:
Director and employee stock options		—		—		107		—
Number of shares used in diluted computation		27,845		5,577		27,489		5,577
Diluted net income per share	$	0.13	$	0.11	$	0.06	$	0.05

	Six Months Ended June 30,
	2024				2023
	Class A		Class B		Class A		Class B
	(in thousands, except per share data)
Basic net income per share:
Numerator:
Allocation of net income	$	8,561	$	1,547	$	6,085	$	1,116
Denominator:
Weighted-average shares outstanding		27,828		5,577		27,288		5,577
Basic net income per share	$	0.31	$	0.28	$	0.22	$	0.20

Diluted net income per share:
Numerator:
Allocation of net income	$	8,561	$	1,547	$	6,085	$	1,116
Denominator:
Number of shares used in basic computation		27,828		5,577		27,288		5,577
Weighted-average shares effect of dilutive securities:
Director and employee stock options		18		—		140		—
Number of shares used in diluted computation		27,846		5,577		27,428		5,577
Diluted net income per share	$	0.31	$	0.28	$	0.22	$	0.20

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(in thousands)
Number of options to purchase Class A shares excluded		4,942		2,262		1,697		2,262

Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Cash Flows from Operating Activities:
Net income	$ 10,108,328	$ 7,201,019
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and other non-cash items	1,897,738	2,191,794
Net investment gains	(2,850,047)	(2,172,823)
Changes in assets and liabilities:
Losses and loss expenses	21,261,917	1,637,440
Unearned premiums	54,167,999	46,810,143
Premiums receivable	(24,221,831)	(21,405,669)
Deferred acquisition costs	(5,883,078)	(5,732,813)
Deferred income taxes	347,507	714,695
Reinsurance receivable	573,663	4,710,479
Prepaid reinsurance premiums	(17,598,575)	(14,487,216)
Accrued investment income	(377,731)	(591,925)
Due from affiliate	(7,912,158)	(11,394,864)
Reinsurance balances payable	(4,823,656)	3,361,990
Current income taxes	1,780,003	609,196
Accrued expenses	(435,535)	301,761
Other, net	463,153	1,301,884
Net adjustments	16,389,369	5,854,072
Net cash provided by operating activities	26,497,697	13,055,091
Cash Flows from Investing Activities:
Purchases of fixed maturities, held to maturity	(23,566,350)	(23,242,218)
Purchases of fixed maturities, available for sale	(72,190,538)	(99,497,145)
Purchases of equity securities, available for sale	(3,679,586)	(3,608,514)
Maturity of fixed maturities:
Held to maturity	12,484,869	25,869,261
Available for sale	52,270,575	25,585,850
Sales of fixed maturities:
Available for sale	2,995,648	28,154,556
Sales of equity securities, available for sale	0	4,375,411
Net purchases of property and equipment	0	(44,703)
Net sales of short-term investments	15,734,741	34,169,777
Net cash used in investing activities	(15,950,641)	(8,237,725)
Cash Flows from Financing Activities:
Cash dividends paid	(11,249,145)	(10,802,920)
Issuance of common stock	1,135,412	5,610,255
Net cash used in financing activities	(10,113,733)	(5,192,665)
Net increase (decrease) in cash	433,323	(375,299)
Cash at beginning of period	23,792,273	25,123,332
Cash at end of period	24,225,596	24,748,033
Cash paid during period - Interest	309,183	304,204
Net cash paid during period - Taxes	$ 0	$ 0

Allowance for Expected Credit Losses

6 Months Ended

Jun. 30, 2024

Allowance for Expected Credit Losses [Abstract]

Allowance for Expected Credit Losses

12 -	Allowance for Expected Credit Losses

We make estimates with respect to the potential impairment of financial instruments and recognize expected credit losses as an allowance rather than impairments as credit losses are incurred. We have established allowances for expected credit losses with respect to held-to-maturity debt securities and reinsurance receivable.

Held-to-Maturity Fixed-Maturity Securities

For held-to-maturity debt securities, we make estimates concerning expected credit losses at an aggregated level rather than monitoring individual debt securities for credit losses. We establish an allowance for expected credit losses based on an ongoing review of securities held, historical loss data, changes in issuer credit standing and other relevant factors. We utilize a probability-of-default methodology, which reflects current and forecasted economic conditions, to estimate the allowance for expected credit losses and recognize changes to the allowance in our results of operations.

	At and For the Three Months Ended June 30, 2024				At and For the Three Months Ended June 30, 2023
	Held-to- Maturity, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses		Held-to- Maturity, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses
	(in thousands)
Balance at beginning of period	$	683,399	$	1,329	$	693,779	$	1,355
Current period change for expected credit losses				25				(31	)
Balance at end of period	$	690,580	$	1,354	$	685,402	$	1,324

	At and For the Six Months Ended June 30, 2024				At and For the Six Months Ended June 30, 2023
	Held-to- Maturity, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses		Held-to- Maturity, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses
	(in thousands)
Balance at beginning of period	$	679,497	$	1,326	$	688,439	$	—
Cumulative effect of adoption of updated accounting guidance for credit losses				—				1,268
Current period change for expected credit losses				28				56
Balance at end of period	$	690,580	$	1,354	$	685,402	$	1,324

Reinsurance Receivable

For reinsurance receivable, we establish an allowance for expected credit losses based upon our ongoing review of amounts outstanding, historical loss data, changes in reinsurer credit standing and other relevant factors. We utilize a probability-of-default methodology, which reflects current and forecasted economic conditions, to estimate the allowance for expected credit losses and recognize changes to the allowance in our results of operations.

	At and For the Three Months Ended June 30, 2024					At and For the Three Months Ended June 30, 2023
	Reinsurance Receivable, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses			Reinsurance Receivable, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses
	(in thousands)
Balance at beginning of period	$	435,505	$	1,026		$	460,681	$	1,467
Current period change for expected credit losses				(94	)				100
Balance at end of period	$	440,858	$	932		$	450,680	$	1,567

	At and For the Six Months Ended June 30, 2024					At and For the Six Months Ended June 30, 2023
	Reinsurance Receivable, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses			Reinsurance Receivable, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses
	(in thousands)
Balance at beginning of period	$	441,431	$	1,394		$	456,522	$	—
Cumulative effect of adoption of updated accounting guidance for credit losses				—					1,132
Current period change for expected credit losses				(462	)				435
Balance at end of period	$	440,858	$	932		$	450,680	$	1,567

Share-Based Compensation (Details) - USD ($)	3 Months Ended		6 Months Ended
Share-Based Compensation (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Compensation [Abstract]
Compensation expense in stock compensation plans	$ 278,337	$ 249,481	$ 564,338	$ 501,254
Income tax benefit of stock compensation plans	58,451	52,391	118,511	105,263
Unrecognized compensation expense related to nonvested share-based compensation granted under the plan	1,300,000		$ 1,300,000
Weighted average period of unrecognized compensation expense			1 year 8 months 12 days
Cash from option exercises	0	2,700,000	$ 236,624	4,700,000
Tax benefit for tax deductions related to option exercises	$ 0	$ 66,955	$ 1,719	$ 113,143

Liabilities for Losses and Loss Expenses (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Liability for Claims and Claims Adjustment Expense [Abstract]
Balance at January 1	$ 1,126,156,838	$ 1,121,046,000
Less reinsurance recoverable	(437,014,000)	(451,184,000)
Cumulative effect of adoption of updated accounting guidance for credit losses at January 1	0	1,132,000
Net balance at January 1	689,143,000	670,994,000
Incurred related to [Abstract]
Current year	325,407,000	297,801,000
Prior years	(9,150,000)	(8,460,000)
Total incurred	316,257,000	289,341,000
Paid related to [Abstract]
Current year	129,555,000	129,999,000
Prior years	165,827,000	152,890,000
Total paid	295,382,000	282,889,000
Net balance at end of period	710,018,000	677,446,000
Plus reinsurance recoverable	437,401,000	445,237,000
Balance at end of period	$ 1,147,418,755	$ 1,122,683,000
Percentage of development	1.30%	1.30%

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Unrealized loss on securities:
Income tax benefit on unrealized holding (loss) income arising during the period	$ 82,974	$ 1,964,085	$ 524,825	$ 1,360,695
Income tax (benefit) expense on reclassification adjustment for losses (gains)	$ 17,096	$ 31,003	$ 915	$ (430,928)

Liabilities for Losses and Loss Expenses (Tables)

6 Months Ended

Jun. 30, 2024

Liabilities for Losses and Loss Expenses [Abstract]

Summary of Insurance Subsidiaries' Liabilities for Losses and Loss Expenses

We summarize activity in our insurance subsidiaries’ liabilities for losses and loss expenses as follows:

	Six Months Ended June 30,
	2024			2023
	(in thousands)
Balance at January 1	$	1,126,157		$	1,121,046
Less reinsurance recoverable		(437,014	)		(451,184	)
Cumulative effect of adoption of updated accounting guidance for credit losses at January 1		—			1,132
Net balance at January 1		689,143			670,994
Incurred related to:
Current year		325,407			297,801
Prior years		(9,150	)		(8,460	)
Total incurred		316,257			289,341
Paid related to:
Current year		129,555			129,999
Prior years		165,827			152,890
Total paid		295,382			282,889
Net balance at end of period		710,018			677,446
Plus reinsurance recoverable		437,401			445,237
Balance at end of period	$	1,147,419		$	1,122,683

Liabilities for Losses and Loss Expenses

6 Months Ended

Jun. 30, 2024

Liabilities for Losses and Loss Expenses [Abstract]

Liabilities for Losses and Loss Expenses

11 -	Liabilities for Losses and Loss Expenses

The establishment of appropriate liabilities for losses and loss expenses is an inherently uncertain process, and we can provide no assurance that our insurance subsidiaries’ ultimate liabilities for losses and loss expenses will not exceed their loss and loss expense reserves and have an adverse effect on our results of operations and financial condition. For example, legislative, judicial and regulatory actions may expand coverage definitions, retroactively mandate coverage or otherwise require our insurance subsidiaries to pay losses for damages that their policies explicitly excluded or did not intend to cover. Furthermore, we cannot predict the timing, frequency and extent of adjustments to our insurance subsidiaries’ estimated future liabilities, because the historical conditions and events that serve as a basis for our insurance subsidiaries’ estimates of ultimate claim costs may change. As is the case for substantially all property and casualty insurance companies, our insurance subsidiaries have found it necessary in the past to increase their estimated future liabilities for losses and loss expenses in certain periods, and, in other periods, their estimated future liabilities for losses and loss expenses have exceeded their actual liabilities for losses and loss expenses. Changes in our insurance subsidiaries’ estimate of their liabilities for losses and loss expenses generally reflect actual payments and their evaluation of information received subsequent to the prior reporting period.

We summarize activity in our insurance subsidiaries’ liabilities for losses and loss expenses as follows:

	Six Months Ended June 30,
	2024			2023
	(in thousands)
Balance at January 1	$	1,126,157		$	1,121,046
Less reinsurance recoverable		(437,014	)		(451,184	)
Cumulative effect of adoption of updated accounting guidance for credit losses at January 1		—			1,132
Net balance at January 1		689,143			670,994
Incurred related to:
Current year		325,407			297,801
Prior years		(9,150	)		(8,460	)
Total incurred		316,257			289,341
Paid related to:
Current year		129,555			129,999
Prior years		165,827			152,890
Total paid		295,382			282,889
Net balance at end of period		710,018			677,446
Plus reinsurance recoverable		437,401			445,237
Balance at end of period	$	1,147,419		$	1,122,683

Our insurance subsidiaries recognized a decrease in their liabilities for losses and loss expenses of prior years of $9.2 million and $8.5 million for the six months ended June 30, 2024 and 2023, respectively. Our insurance subsidiaries made no significant changes in their reserving philosophy or claims management personnel, and they have made no significant offsetting changes in estimates that increased or decreased their loss and loss expense reserves in those years. The 2024 development represented 1.3% of the December 31, 2023 net carried reserves and resulted from lower-than-expected loss emergence or severity primarily in the commercial automobile, commercial multi-peril and personal automobile lines of business. The majority of the 2024 development related to decreases in the liabilities for losses and loss expenses of prior years for Atlantic States and MICO. The 2023 development represented 1.3% of the December 31, 2022 net carried reserves and resulted primarily from lower-than-expected loss emergence or severity primarily in the commercial automobile, workers’ compensation and homeowners lines of business. The majority of the 2023 development related to decreases in the liabilities for losses and loss expenses of prior years for Atlantic States and MICO.

Short-duration contracts are contracts for which our insurance subsidiaries receive premiums that they recognize as revenue over the period of the contract in proportion to the amount of insurance protection our insurance subsidiaries provide. Our insurance subsidiaries consider the policies they issue to be short-duration contracts. We consider the material lines of business of our insurance subsidiaries to be personal automobile, homeowners, commercial automobile, commercial multi-peril and workers’ compensation.

Our insurance subsidiaries determine incurred but not reported (“IBNR”) reserves by subtracting the cumulative loss and loss expense amounts our insurance subsidiaries have paid and the case reserves our insurance subsidiaries have established at the balance sheet date from their actuaries’ estimate of the ultimate cost of losses and loss expenses. Accordingly, the IBNR reserves of our insurance subsidiaries include their actuaries’ projections of the cost of unreported claims as well as their actuaries’ projected development of case reserves on known claims and reopened claims. Our insurance subsidiaries’ methodology for estimating IBNR reserves has been in place for many years, and their actuaries made no significant changes to that methodology during the six months ended June 30, 2024.

The actuaries for our insurance subsidiaries generally prepare an initial estimate for ultimate losses and loss expenses for the current accident year by multiplying earned premium by an ‘‘a priori,’’ or expected, loss ratio for each line of business our insurance subsidiaries write. Expected loss ratios represent the actuaries’ expectation of losses at the time our insurance subsidiaries price and write their policies and before the emergence of any actual claims experience. The actuaries determine an expected loss ratio by analyzing historical experience and adjusting for loss cost trends, loss frequency and severity trends, premium rate level changes, reported and paid loss emergence patterns and other known or observed factors.

The actuaries use a variety of actuarial methods to estimate the ultimate cost of losses and loss expenses. These methods include paid loss development, incurred loss development and the Bornhuetter-Ferguson method from which the actuaries select loss development factor assumptions. The actuaries base their selection of a point estimate on a judgmental weighting of the estimates each of these methods produce.

The actuaries consider loss frequency and severity trends when they develop expected loss ratios and point estimates. Loss frequency is a measure of the number of claims per unit of insured exposure, and loss severity is a measure of the average size of claims. Factors that affect loss frequency include changes in weather patterns and economic activity. Factors that affect loss severity include changes in policy limits, reinsurance retentions, inflation rates and judicial interpretations.

Our insurance subsidiaries create a claim file when they receive notice of an actual demand for payment, an event that may lead to a demand for payment or when they otherwise determine that a demand for payment could potentially lead to a future demand for payment on another coverage under the same policy or another policy they have issued. In recent years, our insurance subsidiaries have noted an increase in the period of time between the occurrence of a casualty loss event and the date at which they receive notice of a liability claim. Changes in the length of time between the loss occurrence date and the claim reporting date affect the actuaries’ ability to predict loss frequency accurately and the amount of IBNR reserves our insurance subsidiaries require.

Our insurance subsidiaries generally create a claim file for a policy at the claimant level by type of coverage and generally recognize one count for each claim event. In certain lines of business where it is common for multiple parties to claim damages arising from a single claim event, our insurance subsidiaries recognize one count for each claimant involved in the event. Atlantic States recognizes one count for each claim event, or claimant involved in a multiple-party claim event, related to losses Atlantic States assumes through its participation in its pooling agreement with Donegal Mutual. Our insurance subsidiaries accumulate the claim counts and report them by line of business.

Investments, Amortized Cost and Estimated Fair Value of Fixed Maturities by Contractual Maturity (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Held To Maturity [Abstract]
Due in one year or less, amortized cost	$ 38,451,000
Due after one year through five years, amortized cost	130,089,000
Due after five years through ten years, amortized cost	242,095,000
Due after ten years, amortized cost	268,829,000
Mortgage-backed securities, amortized cost	12,470,000
Held to maturity, amortized cost	691,934,000	$ 680,823,000
Available For Sale [Abstract]
Due in one year or less, amortized cost	57,703,000
Due after one year through five years, amortized cost	171,272,000
Due after five years through ten years, amortized cost	92,540,000
Due after ten years, amortized cost	23,106,000
Mortgage-backed securities, amortized cost	302,528,000
Total available for sale, amortized cost	647,149,000	629,727,000
Held To Maturity [Abstract]
Due in one year or less, estimated fair value	37,894,000
Due after one year through five years, estimated fair value	121,597,000
Due after five years through ten years, estimated fair value	219,387,000
Due after ten years, estimated fair value	222,320,000
Mortgage-backed securities, estimated fair value	12,048,000
Total held to maturity, estimated fair value	613,246,000	611,526,000
Available For Sale [Abstract]
Due in one year or less, estimated fair value	56,838,000
Due after one year through five years, estimated fair value	161,287,000
Due after five years through ten years, estimated fair value	84,403,000
Due after ten years, estimated fair value	19,961,000
Mortgage-backed securities, estimated fair value	281,679,000
Total available for sale, estimated fair value	$ 604,168,056	$ 589,348,243

Investments, Amortized Cost and Estimated Fair Values of Fixed Maturities (Details) - USD ($)	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Amortized Cost and Estimated Fair Values of Fixed Maturities [Abstract]
Held to maturity, carrying value	$ 690,580,051	$ 683,399,000	$ 679,497,038	$ 685,402,000	$ 693,779,000	$ 688,439,000
Held to maturity, allowance for credit loss	1,353,571	$ 1,329,000	1,325,847	$ 1,324,000	$ 1,355,000	$ 0
Held to maturity, amortized cost	691,934,000		680,823,000
Held to maturity, gross unrealized gains	798,000		1,656,000
Held to maturity, gross unrealized losses	79,486,000		70,953,000
Held to maturity, estimated fair value	613,246,000		611,526,000
Total available for sale, amortized cost	647,149,000		629,727,000
Available for sale, gross unrealized gains	211,000		905,000
Available for sale, gross unrealized losses	43,192,000		41,284,000
Available for sale, estimated fair value	604,168,056		589,348,243
U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies [Member]
Amortized Cost and Estimated Fair Values of Fixed Maturities [Abstract]
Held to maturity, carrying value	93,404,000		91,518,000
Held to maturity, allowance for credit loss	56,000		54,000
Held to maturity, amortized cost	93,460,000		91,572,000
Held to maturity, gross unrealized gains	9,000		0
Held to maturity, gross unrealized losses	9,476,000		8,885,000
Held to maturity, estimated fair value	83,993,000		82,687,000
Total available for sale, amortized cost	94,952,000		89,367,000
Available for sale, gross unrealized gains	42,000		199,000
Available for sale, gross unrealized losses	4,476,000		4,147,000
Available for sale, estimated fair value	90,518,000		85,419,000
Obligations of States and Political Subdivisions [Member]
Amortized Cost and Estimated Fair Values of Fixed Maturities [Abstract]
Held to maturity, carrying value	376,833,000		376,898,000
Held to maturity, allowance for credit loss	269,000		266,000
Held to maturity, amortized cost	377,102,000		377,164,000
Held to maturity, gross unrealized gains	625,000		1,449,000
Held to maturity, gross unrealized losses	53,705,000		46,845,000
Held to maturity, estimated fair value	324,022,000		331,768,000
Total available for sale, amortized cost	41,827,000		41,958,000
Available for sale, gross unrealized gains	9,000		12,000
Available for sale, gross unrealized losses	4,503,000		3,854,000
Available for sale, estimated fair value	37,333,000		38,116,000
Corporate Securities [Member]
Amortized Cost and Estimated Fair Values of Fixed Maturities [Abstract]
Held to maturity, carrying value	207,881,000		201,847,000
Held to maturity, allowance for credit loss	1,021,000		1,000,000
Held to maturity, amortized cost	208,902,000		202,847,000
Held to maturity, gross unrealized gains	164,000		207,000
Held to maturity, gross unrealized losses	15,883,000		14,805,000
Held to maturity, estimated fair value	193,183,000		188,249,000
Total available for sale, amortized cost	207,842,000		211,882,000
Available for sale, gross unrealized gains	54,000		100,000
Available for sale, gross unrealized losses	13,258,000		15,189,000
Available for sale, estimated fair value	194,638,000		196,793,000
Mortgage-Backed Securities [Member]
Amortized Cost and Estimated Fair Values of Fixed Maturities [Abstract]
Held to maturity, carrying value	12,462,000		9,234,000
Held to maturity, allowance for credit loss	8,000		6,000
Held to maturity, amortized cost	12,470,000		9,240,000
Held to maturity, gross unrealized gains	0		0
Held to maturity, gross unrealized losses	422,000		418,000
Held to maturity, estimated fair value	12,048,000		8,822,000
Total available for sale, amortized cost	302,528,000		286,520,000
Available for sale, gross unrealized gains	106,000		594,000
Available for sale, gross unrealized losses	20,955,000		18,094,000
Available for sale, estimated fair value	$ 281,679,000		$ 269,020,000

Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net Income Per Share [Abstract]
Minimum percentage of class A common stock declared dividend excess over class B dividend			10.00%
Class A Common Stock [Member]
Numerator [Abstract]
Allocation of net income	$ 3,522	$ 1,694	$ 8,561	$ 6,085
Denominator [Abstract]
Weighted-average shares outstanding (in shares)	27,845,000	27,382,000	27,828,000	27,288,000
Basic net income per share (in dollars per share)	$ 0.13	$ 0.06	$ 0.31	$ 0.22
Numerator [Abstract]
Allocation of net income	$ 3,522	$ 1,694	$ 8,561	$ 6,085
Denominator [Abstract]
Number of shares used in basic computation (in shares)	27,845,000	27,382,000	27,828,000	27,288,000
Weighted-average shares effect of dilutive securities [Abstract]
Director and employee stock options (in shares)	0	107,000	18,000	140,000
Number of shares used in diluted computation (in shares)	27,845,000	27,489,000	27,846,000	27,428,000
Diluted net income per share (in dollars per share)	$ 0.13	$ 0.06	$ 0.31	$ 0.22
Class B Common Stock [Member]
Numerator [Abstract]
Allocation of net income	$ 631	$ 303	$ 1,547	$ 1,116
Denominator [Abstract]
Weighted-average shares outstanding (in shares)	5,577,000	5,577,000	5,577,000	5,577,000
Basic net income per share (in dollars per share)	$ 0.11	$ 0.05	$ 0.28	$ 0.2
Numerator [Abstract]
Allocation of net income	$ 631	$ 303	$ 1,547	$ 1,116
Denominator [Abstract]
Number of shares used in basic computation (in shares)	5,577,000	5,577,000	5,577,000	5,577,000
Weighted-average shares effect of dilutive securities [Abstract]
Director and employee stock options (in shares)	0	0	0	0
Number of shares used in diluted computation (in shares)	5,577,000	5,577,000	5,577,000	5,577,000
Diluted net income per share (in dollars per share)	$ 0.11	$ 0.05	$ 0.28	$ 0.2
Options [Member]
Antidilutive Securities Excluded from Computation of Earnings (Loss) Per Share [Abstract]
Number of options to purchase Class A shares excluded (in shares)	4,942	2,262	1,697	2,262

Fair Value Measurements (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Available for sale, at fair value	$ 604,168,056	$ 589,348,243
Equity securities, at fair value	32,455,954	25,902,956
U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Available for sale, at fair value	90,518,000	85,419,000
Obligations of States and Political Subdivisions [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Available for sale, at fair value	37,333,000	38,116,000
Mortgage-Backed Securities [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Available for sale, at fair value	281,679,000	269,020,000
Recurring Basis [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, at fair value	32,456,000	25,903,000
Investments in the fair value hierarchy	636,624,000	615,251,000
Recurring Basis [Member] \| U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Available for sale, at fair value	90,518,000	85,419,000
Recurring Basis [Member] \| Obligations of States and Political Subdivisions [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Available for sale, at fair value	37,333,000	38,116,000
Recurring Basis [Member] \| Corporate Securities [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Available for sale, at fair value	194,638,000	196,793,000
Recurring Basis [Member] \| Mortgage-Backed Securities [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Available for sale, at fair value	281,679,000	269,020,000
Recurring Basis [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, at fair value	30,451,000	23,911,000
Investments in the fair value hierarchy	30,451,000	23,911,000
Recurring Basis [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Available for sale, at fair value	0	0
Recurring Basis [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Obligations of States and Political Subdivisions [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Available for sale, at fair value	0	0
Recurring Basis [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Corporate Securities [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Available for sale, at fair value	0	0
Recurring Basis [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Mortgage-Backed Securities [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Available for sale, at fair value	0	0
Recurring Basis [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, at fair value	2,005,000	1,992,000
Investments in the fair value hierarchy	606,173,000	591,340,000
Recurring Basis [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Available for sale, at fair value	90,518,000	85,419,000
Recurring Basis [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Obligations of States and Political Subdivisions [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Available for sale, at fair value	37,333,000	38,116,000
Recurring Basis [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Corporate Securities [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Available for sale, at fair value	194,638,000	196,793,000
Recurring Basis [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Mortgage-Backed Securities [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Available for sale, at fair value	281,679,000	269,020,000
Recurring Basis [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, at fair value	0	0
Investments in the fair value hierarchy	0	0
Recurring Basis [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Available for sale, at fair value	0	0
Recurring Basis [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Obligations of States and Political Subdivisions [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Available for sale, at fair value	0	0
Recurring Basis [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Corporate Securities [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Available for sale, at fair value	0	0
Recurring Basis [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Mortgage-Backed Securities [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Available for sale, at fair value	$ 0	$ 0