SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2015

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 June 30, 2015	Property and casualty insurance			Reinsurance			Parent company			Consolidated
($ in thousands)
Premiums earned	$	111,254		$	33,351		$	—		$	144,605
Underwriting profit (loss)	(6,512		)	4,919			—			(1,593		)
Net investment income (loss)	8,150			3,294			(3		)	11,441
Net realized investment gains	2,277			997			—			3,274
Other income (loss)	190			(702		)	—			(512		)
Interest expense	85			—			—			85
Other expenses	166			—			484			650
Income (loss) before income tax expense (benefit)	$	3,854		$	8,508		$	(487	)	$	11,875

Three months ended June 30, 2014	Property and casualty insurance			Reinsurance			Parent company			Consolidated
($ in thousands)
Premiums earned	$	103,517		$	30,435		$	—		$	133,952
Underwriting profit (loss)	(10,979		)	(1,850		)	—			(12,829		)
Net investment income (loss)	7,972			3,106			(2		)	11,076
Net realized investment gains	1,568			775			—			2,343
Other income (loss)	181			181			—			362
Interest expense	85			—			—			85
Other expenses	234			—			363			597
Income (loss) before income tax expense (benefit)	$	(1,577	)	$	2,212		$	(365	)	$	270

Six months ended June 30, 2015	Property and casualty insurance		Reinsurance			Parent company			Consolidated
($ in thousands)
Premiums earned	$	219,459	$	63,877		$	—		$	283,336
Underwriting profit (loss)	7,566		7,925			—			15,491
Net investment income (loss)	16,176		6,478			(7		)	22,647
Net realized investment gains	2,977		1,080			—			4,057
Other income (loss)	372		731			—			1,103
Interest expense	169		—			—			169
Other expenses	372		—			945			1,317
Income (loss) before income tax expense (benefit)	$	26,550	$	16,214		$	(952	)	$	41,812
Assets	$	1,079,153	$	434,675		$	515,748		$	2,029,576
Eliminations	—		—			(506,443		)	(506,443		)
Reclassifications	—		(2,171		)	(892		)	(3,063		)
Total assets	$	1,079,153	$	432,504		$	8,413		$	1,520,070

Six months ended June 30, 2014	Property and casualty insurance			Reinsurance		Parent company			Consolidated
($ in thousands)
Premiums earned	$	204,764		$	62,268	$	—		$	267,032
Underwriting profit (loss)	(11,454		)	975		—			(10,479		)
Net investment income (loss)	16,588			6,349		(6		)	22,931
Net realized investment gains	2,579			1,026		—			3,605
Other income (loss)	382			14		—			396
Interest expense	169			—		—			169
Other expenses	408			—		717			1,125
Income (loss) before income tax expense (benefit)	$	7,518		$	8,364	$	(723	)	$	15,159
Year ended December 31, 2014
Assets	$	1,057,429		$	434,139	$	503,008		$	1,994,576
Eliminations	—			—		(495,288		)	(495,288		)
Reclassifications	(909		)	—		(559		)	(1,468		)
Total assets	$	1,056,520		$	434,139	$	7,161		$	1,497,820

The following table displays the net premiums earned of the property and casualty insurance segment and the reinsurance segment for the three and six months ended June 30, 2015 and 2014, by line of insurance.

	Three months ended June 30,				Six months ended June 30,
($ in thousands)	2015		2014		2015		2014
Property and casualty insurance segment
Commercial lines:
Automobile	$	26,222	$	23,855	$	51,618	$	46,657
Property	25,926		23,328		50,992		46,645
Workers' compensation	23,006		21,910		45,373		42,963
Liability	23,087		21,055		45,503		41,510
Other	2,046		1,812		4,012		3,591
Total commercial lines	100,287		91,960		197,498		181,366
Personal lines:
Automobile	5,779		6,304		11,596		12,715
Homeowners	5,188		5,253		10,365		10,683
Total personal lines	10,967		11,557		21,961		23,398
Total property and casualty insurance	$	111,254	$	103,517	$	219,459	$	204,764
Reinsurance segment
Pro rata reinsurance:
Multiline	$	2,156	$	3,267	$	3,394	$	4,331
Property	3,859		1,063		7,715		7,307
Liability	5,367		2,721		9,168		5,513
Marine	3,430		4,837		6,840		8,219
Total pro rata reinsurance	14,812		11,888		27,117		25,370
Excess of loss reinsurance:
Property	15,714		15,800		30,176		31,259
Liability	2,825		2,747		6,584		5,639
Total excess of loss reinsurance	18,539		18,547		36,760		36,898
Total reinsurance	$	33,351	$	30,435	$	63,877	$	62,268
Consolidated	$	144,605	$	133,952	$	283,336	$	267,032