SEGMENT INFORMATION

9 Months Ended

Sep. 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 September 30, 2015	Property and casualty insurance			Reinsurance			Parent company			Consolidated
($ in thousands)
Premiums earned	$	113,753		$	32,035		$	—		$	145,788
Underwriting profit (loss)	(101		)	(2,535		)	—			(2,636		)
Net investment income (loss)	8,125			3,176			(2		)	11,299
Net realized investment gains (losses)	4,889			2,609			—			7,498
Other income	210			309			—			519
Interest expense	84			—			—			84
Other expenses	196			—			479			675
Income (loss) before income tax expense (benefit)	$	12,843		$	3,559		$	(481	)	$	15,921

Three months ended September 30, 2014	Property and casualty insurance			Reinsurance			Parent company			Consolidated
($ in thousands)
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
Net realized investment gains (losses)	(286		)	(104		)	—			(390		)
Other income	202			1,028			—			1,230
Interest expense	84			—			—			84
Other expenses	132			—			456			588
Income (loss) before income tax expense (benefit)	$	3,516		$	(1,175	)	$	(458	)	$	1,883

Nine months ended September 30, 2015	Property and casualty insurance		Reinsurance		Parent company			Consolidated
($ in thousands)
Premiums earned	$	333,212	$	95,912	$	—		$	429,124
Underwriting profit (loss)	7,465		5,390		—			12,855
Net investment income (loss)	24,301		9,654		(9		)	33,946
Net realized investment gains (losses)	7,866		3,689		—			11,555
Other income	582		1,040		—			1,622
Interest expense	253		—		—			253
Other expenses	568		—		1,424			1,992
Income (loss) before income tax expense (benefit)	$	39,393	$	19,773	$	(1,433	)	$	57,733
Assets	$	1,108,180	$	436,681	$	520,021		$	2,064,882
Eliminations	—		—		(508,553		)	(508,553		)
Reclassifications	—		—		(804		)	(804		)
Total assets	$	1,108,180	$	436,681	$	10,664		$	1,555,525

Nine months ended September 30, 2014	Property and casualty insurance			Reinsurance			Parent company			Consolidated
($ in thousands)
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
Net realized investment gains (losses)	2,293			922			—			3,215
Other income	584			1,042			—			1,626
Interest expense	253			—			—			253
Other expenses	540			—			1,173			1,713
Income (loss) before income tax expense (benefit)	$	11,034		$	7,189		$	(1,181	)	$	17,042
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 nine months ended September 30, 2015 and 2014, by line of insurance.

	Three months ended September 30,				Nine months ended September 30,
($ in thousands)	2015		2014		2015		2014
Property and casualty insurance segment
Commercial lines:
Automobile	$	27,080	$	25,000	$	78,698	$	71,657
Property	26,526		25,111		77,518		71,756
Workers' compensation	23,777		22,209		69,150		65,172
Liability	23,449		22,090		68,952		63,600
Other	2,032		1,881		6,044		5,472
Total commercial lines	102,864		96,291		300,362		277,657
Personal lines:
Automobile	5,717		6,284		17,313		18,999
Homeowners	5,172		5,377		15,537		16,060
Total personal lines	10,889		11,661		32,850		35,059
Total property and casualty insurance	$	113,753	$	107,952	$	333,212	$	312,716
Reinsurance segment
Pro rata reinsurance:
Multiline (primarily property)	$	1,190	$	700	$	4,584	$	5,031
Property	4,162		2,622		11,877		9,929
Liability	4,787		3,148		13,955		8,661
Marine	2,898		3,502		9,738		11,721
Total pro rata reinsurance	13,037		9,972		40,154		35,342
Excess of loss reinsurance:
Property	16,249		17,248		46,425		48,507
Liability	2,749		3,144		9,333		8,783
Total excess of loss reinsurance	18,998		20,392		55,758		57,290
Total reinsurance	$	32,035	$	30,364	$	95,912	$	92,632
Consolidated	$	145,788	$	138,316	$	429,124	$	405,348