SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

The Company’s operations consist of a property and casualty insurance segment and a reinsurance segment.  The property and casualty insurance segment writes both commercial and personal lines of insurance, with a focus on medium-sized commercial accounts.  The reinsurance segment provides reinsurance for other insurers and reinsurers.  The segments are managed separately due to differences in the insurance products sold and the business environments in which they operate.

Summarized financial information for the Company’s segments is as follows:

Three months ended September 30, 2014	Property and casualty insurance			Reinsurance			Parent company			Consolidated
Premiums earned	$	107,952		$	30,364		$	—		$	138,316
Underwriting profit (loss)	(4,414		)	(5,374		)	—			(9,788		)
Net investment income (loss)	8,230			3,275			(2		)	11,503
Realized investment gains (losses)	(286		)	(104		)	—			(390		)
Other income	202			—			—			202
Interest expense	84			—			—			84
Other expenses	132			(1,028		)	456			(440		)
Income (loss) before income tax expense (benefit)	$	3,516		$	(1,175	)	$	(458	)	$	1,883

Three months ended September 30, 2013	Property and casualty insurance			Reinsurance		Parent company			Consolidated
Premiums earned	$	100,085		$	32,277	$	—		$	132,362
Underwriting profit (loss)	(3,945		)	2,849		—			(1,096		)
Net investment income (loss)	7,677			2,870		(2		)	10,545
Realized investment gains (losses)	720			287		—			1,007
Other income	195			—		—			195
Interest expense	84			—		—			84
Other expenses	163			557		283			1,003
Income (loss) before income tax expense (benefit)	$	4,400		$	5,449	$	(285	)	$	9,564

Nine months ended September 30, 2014	Property and casualty insurance			Reinsurance			Parent company			Consolidated
Premiums earned	$	312,716		$	92,632		$	—		$	405,348
Underwriting profit (loss)	(15,868		)	(4,399		)	—			(20,267		)
Net investment income (loss)	24,818			9,624			(8		)	34,434
Realized investment gains (losses)	2,293			922			—			3,215
Other income	584			—			—			584
Interest expense	253			—			—			253
Other expenses	540			(1,042		)	1,173			671
Income (loss) before income tax expense (benefit)	$	11,034		$	7,189		$	(1,181	)	$	17,042
Assets	$	1,069,564		$	421,292		$	485,970		$	1,976,826
Eliminations	—			—			(475,456		)	(475,456		)
Net assets	$	1,069,564		$	421,292		$	10,514		$	1,501,370

Nine months ended September 30, 2013	Property and casualty insurance			Reinsurance		Parent company			Consolidated
Premiums earned	$	290,607		$	89,441	$	—		$	380,048
Underwriting profit (loss)	(11,752		)	15,365		—			3,613
Net investment income (loss)	23,422			8,613		(7		)	32,028
Realized investment gains (losses)	3,069			781		—			3,850
Other income	593			—		—			593
Interest expense	300			—		—			300
Other expenses	554			217		991			1,762
Income (loss) before income tax expense (benefit)	$	14,478		$	24,542	$	(998	)	$	38,022
Year ended December 31, 2013
Assets	$	978,746		$	387,284	$	455,368		$	1,821,398
Eliminations	—			—		(441,984		)	(441,984		)
Reclassifications	—			—		(481		)	(481		)
Net assets	$	978,746		$	387,284	$	12,903		$	1,378,933

The following table displays the net premiums earned of the property and casualty insurance segment and the reinsurance segment for the three and nine months ended September 30, 2014 and 2013, by line of insurance.

	Three months ended September 30,				Nine months ended September 30,
	2014		2013		2014		2013
Property and casualty insurance segment
Commercial lines:
Automobile	$	25,000	$	22,254	$	71,657	$	63,475
Property	25,111		22,337		71,756		64,147
Workers' compensation	22,209		20,784		65,172		61,338
Liability	22,090		20,066		63,600		57,701
Other	1,881		1,898		5,472		5,604
Total commercial lines	96,291		87,339		277,657		252,265
Personal lines:
Automobile	6,284		6,876		18,999		20,715
Property	5,177		5,688		15,483		17,104
Liability	200		182		577		523
Total personal lines	11,661		12,746		35,059		38,342
Total property and casualty insurance	$	107,952	$	100,085	$	312,716	$	290,607
Reinsurance segment
Pro rata reinsurance:
Property and liability	$	700	$	824	$	5,031	$	4,336
Property	1,198		5,862		7,263		14,134
Crop	1,400		612		2,613		1,558
Liability	3,148		1,432		8,661		2,950
Marine	3,526		4,444		11,774		10,401
Total pro rata reinsurance	9,972		13,174		35,342		33,379
Excess of loss reinsurance:
Property	17,248		16,509		48,507		47,958
Liability	3,051		2,594		8,689		8,104
Surety	93		—		94		—
Total excess of loss reinsurance	20,392		19,103		57,290		56,062
Total reinsurance	$	30,364	$	32,277	$	92,632	$	89,441
Consolidated	$	138,316	$	132,362	$	405,348	$	380,048