Schedule I - Summary of Investments-Other than Investments in Related Parties

12 Months Ended

Dec. 31, 2017

EMC INSURANCE GROUP INC. AND SUBSIDIARIES

Schedule I – Summary of Investments-

Other than Investment in Related Parties

December 31, 2017



($ in thousands)
Type of investment	Cost		Fair value		Amount at which shown in the balance sheet

Securities available-for-sale:
Fixed maturity securities:
U.S. treasury	$	8,115	$	8,078	$	8,078
U.S. government-sponsored agencies	303,932		297,949		297,949
Obligations of states and political subdivisions	290,038		307,536		307,536
Commercial mortgage-backed	84,058		83,980		83,980
Residential mortgage-backed	120,554		119,799		119,799
Other asset-backed	23,934		24,114		24,114
Corporate	422,535		433,560		433,560
Total fixed maturity securities	1,253,166		1,275,016		1,275,016

Equity securities:
Common stocks:
Financial services	30,103		43,522		43,522
Information technology	18,308		35,810		35,810
Healthcare	18,877		30,595		30,595
Consumer staples	9,275		14,127		14,127
Consumer discretionary	10,935		20,538		20,538
Energy	12,441		16,905		16,905
Industrials	12,746		28,489		28,489
Other	11,058		16,421		16,421
Non-redeemable preferred stocks	20,531		21,708		21,708
Total equity securities	144,274		228,115		228,115

Other long-term investments	13,648		XXXX		13,648

Short-term investments	23,613		23,613		23,613
Total investments	$	1,434,701	XXXX		$	1,540,392