SEGMENT INFORMATION

12 Months Ended

Dec. 31, 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. The accounting policies of the segments are described in note 1, Summary of Significant Accounting Policies.

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

Year ended December 31, 2015	Property and casualty insurance		Reinsurance			Parent company			Consolidated
($ in thousands)
Premiums earned	$	447,197	$	123,069		$	—		$	570,266
Underwriting profit (loss)	7,954		13,269			—			21,223
Net investment income (loss)	32,668		12,923			(9		)	45,582
Net realized investment gains	4,163		1,990			—			6,153
Other income (loss)	771		954			—			1,725
Interest expense	337		—			—			337
Other expenses	748		—			1,942			2,690
Income (loss) before income tax expense (benefit)	$	44,471	$	29,136		$	(1,951	)	$	71,656
Assets	$	1,092,820	$	437,575		$	525,042		$	2,055,437
Eliminations	—		—			(514,309		)	(514,309		)
Reclassifications	—		(5,173		)	—			(5,173		)
Total assets	$	1,092,820	$	432,402		$	10,733		$	1,535,955

Year ended December 31, 2014	Property and casualty insurance			Reinsurance		Parent company			Consolidated
($ in thousands)
Premiums earned	$	422,381		$	118,341	$	—		$	540,722
Underwriting profit (loss)	(12,309		)	2,185		—			(10,124		)
Net investment income (loss)	33,509			12,968		(12		)	46,465
Net realized investment gains	2,938			1,411		—			4,349
Other income (loss)	695			2,236		—			2,931
Interest expense	337			—		—			337
Other expenses	793			—		1,584			2,377
Income (loss) before income tax expense (benefit)	$	23,703		$	18,800	$	(1,596	)	$	40,907
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

Year ended December 31, 2013	Property and casualty insurance			Reinsurance			Parent company			Consolidated
($ in thousands)
Premiums earned	$	392,719		$	122,787		$	—		$	515,506
Underwriting profit (loss)	(10,435		)	21,308			—			10,873
Net investment income (loss)	31,397			11,635			(10		)	43,022
Net realized investment gains	7,525			1,472			—			8,997
Other income (loss)	765			(305		)	—			460
Interest expense	384			—			—			384
Other expenses	751			—			1,364			2,115
Income (loss) before income tax expense (benefit)	$	28,117		$	34,110		$	(1,374	)	$	60,853

The following table displays the net premiums earned for the property and casualty insurance segment and the reinsurance segment for the three years ended December 31, 2015, by line of insurance.

	Year ended December 31,
($ in thousands)	2015		2014		2013
Property and casualty insurance segment
Commercial lines:
Automobile	$	105,904	$	96,908	$	86,230
Property	104,303		97,155		87,446
Workers' compensation	92,828		88,356		83,172
Liability	92,665		86,108		77,983
Other	8,079		7,416		7,487
Total commercial lines	403,779		375,943		342,318
Personal lines:
Automobile	22,855		25,094		27,408
Homeowners	20,563		21,344		22,993
Total personal lines	43,418		46,438		50,401
Total property and casualty insurance	$	447,197	$	422,381	$	392,719
Reinsurance segment
Pro rata reinsurance:
Multiline (primarily property)	$	7,089	$	8,552	$	7,489
Property	15,324		8,482		20,239
Liability	20,629		9,919		5,172
Marine	4,379		14,930		14,748
Total pro rata reinsurance	47,421		41,883		47,648
Excess of loss reinsurance:
Property	63,416		64,956		64,069
Liability	12,232		11,502		11,070
Total excess of loss reinsurance	75,648		76,458		75,139
Total reinsurance	$	123,069	$	118,341	$	122,787
Consolidated	$	570,266	$	540,722	$	515,506