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SEGMENT INFORMATION (Tables)
9 Months Ended
Sep. 30, 2018
Segment Reporting [Abstract]  
Summarized financial information for segments
Three months ended September 30, 2018
 
Property and
casualty
insurance
 
Reinsurance
 
Parent
company
 
Consolidated
($ in thousands)
 
 
 
 
Premiums earned
 
$
126,213

 
$
37,495

 
$

 
$
163,708

 
 
 
 
 
 
 
 
 
Underwriting profit (loss):
 
 
 
 
 
 
 
 
SAP underwriting profit (loss)
 
138

 
(844
)
 

 
(706
)
GAAP adjustments
 
378

 
398

 

 
776

GAAP underwriting profit (loss)
 
516

 
(446
)
 

 
70

 
 
 
 
 
 
 
 
 
Net investment income
 
8,514

 
3,423

 
14

 
11,951

Net realized investment gains (losses) and, beginning in 2018, change in unrealized investment gains on equity investments
 
6,760

 
4,476

 
(101
)
 
11,135

Other income (loss)
 
2,184

 
147

 

 
2,331

Interest expense
 
170

 

 

 
170

Other expenses
 
282

 

 
591

 
873

Income (loss) before income tax expense (benefit)
 
$
17,522

 
$
7,600

 
$
(678
)
 
$
24,444


Three months ended September 30, 2017
 
Property and
casualty
insurance
 
Reinsurance
 
Parent
company
 
Consolidated
($ in thousands)
 
 
 
 
Premiums earned
 
$
120,472

 
$
34,718

 
$

 
$
155,190

 
 
 
 
 
 
 
 
 
Underwriting profit (loss):
 
 
 
 
 
 
 
 
SAP underwriting profit (loss)
 
1,927

 
(18,364
)
 

 
(16,437
)
GAAP adjustments
 
4,582

 
194

 

 
4,776

GAAP underwriting profit (loss)
 
6,509

 
(18,170
)
 

 
(11,661
)
 
 
 
 
 
 
 
 
 
Net investment income
 
8,252

 
3,237

 
12

 
11,501

Net realized investment gains (losses) and, beginning in 2018, change in unrealized investment gains on equity investments
 
(108
)
 
(486
)
 

 
(594
)
Other income (loss)
 
1,457

 
(358
)
 

 
1,099

Interest expense
 
84

 

 

 
84

Other expenses
 
170

 

 
531

 
701

Income (loss) before income tax expense (benefit)
 
$
15,856

 
$
(15,777
)
 
$
(519
)
 
$
(440
)
Nine months ended September 30, 2018
 
Property and
casualty
insurance
 
Reinsurance
 
Parent
company
 
Consolidated
($ in thousands)
 
 
 
 
Premiums earned
 
$
366,340

 
$
111,100

 
$

 
$
477,440

 
 
 
 
 
 
 
 
 
Underwriting profit (loss):
 
 
 
 
 
 
 
 
SAP underwriting profit (loss)
 
(29,082
)
 
4,426

 

 
(24,656
)
GAAP adjustments
 
2,561

 
(355
)
 

 
2,206

GAAP underwriting profit (loss)
 
(26,521
)
 
4,071

 

 
(22,450
)
 
 
 
 
 
 
 
 
 
Net investment income
 
25,072

 
10,001

 
27

 
35,100

Net realized investment gains (losses) and, beginning in 2018, change in unrealized investment gains on equity investments
 
(1,225
)
 
1,208

 
(101
)
 
(118
)
Other income (loss)
 
6,330

 
389

 

 
6,719

Interest expense
 
483

 

 

 
483

Other expenses
 
759

 

 
1,815

 
2,574

Income (loss) before income tax expense (benefit)
 
$
2,414

 
$
15,669

 
$
(1,889
)
 
$
16,194

 
 
 
 
 
 
 
 
 
Assets
 
$
1,212,964

 
$
481,047

 
$
574,885

 
$
2,268,896

Eliminations
 

 

 
(564,796
)
 
(564,796
)
Reclassifications
 
(2,880
)
 

 
(118
)
 
(2,998
)
Total assets
 
$
1,210,084

 
$
481,047

 
$
9,971

 
$
1,701,102

Nine months ended September 30, 2017
 
Property and
casualty
insurance
 
Reinsurance
 
Parent
company
 
Consolidated
($ in thousands)
 
 
 
 
Premiums earned
 
$
350,307

 
$
99,207

 
$

 
$
449,514

 
 
 
 
 
 
 
 
 
Underwriting profit (loss):
 
 
 
 
 
 
 
 
SAP underwriting profit (loss)
 
(9,559
)
 
(14,899
)
 

 
(24,458
)
GAAP adjustments
 
4,301

 
(942
)
 

 
3,359

GAAP underwriting profit (loss)
 
(5,258
)
 
(15,841
)
 

 
(21,099
)
 
 
 
 
 
 
 
 
 
Net investment income
 
24,225

 
9,421

 
33

 
33,679

Net realized investment gains (losses) and, beginning in 2018, change in unrealized investment gains on equity investments
 
3,033

 
(867
)
 

 
2,166

Other income (loss)
 
4,457

 
(1,457
)
 

 
3,000

Interest expense
 
253

 

 

 
253

Other expenses
 
580

 

 
1,684

 
2,264

Income (loss) before income tax expense (benefit)
 
$
25,624

 
$
(8,744
)
 
$
(1,651
)
 
$
15,229

 
 
 
 
 
 
 
 
 
Year ended December 31, 2017
 
 
 
 
 
 
 
 
Assets
 
$
1,200,636

 
$
484,678

 
$
604,105

 
$
2,289,419

Eliminations
 

 

 
(599,036
)
 
(599,036
)
Reclassifications
 
(1,393
)
 
(6,273
)
 
(777
)
 
(8,443
)
Total assets
 
$
1,199,243

 
$
478,405

 
$
4,292

 
$
1,681,940

Summary of net premiums earned by line of insurance
The following table displays the premiums earned for the property and casualty insurance segment and the reinsurance segment for the three and nine months ended September 30, 2018 and 2017, by line of insurance.
 
 
Three months ended September 30,
 
Nine months ended September 30,
($ in thousands)
 
2018
 
2017
 
2018
 
2017
Property and casualty insurance
 
 
 
 
 
 
 
 
Commercial lines:
 
 
 
 
 
 
 
 
Automobile
 
$
32,851

 
$
30,229

 
$
95,155

 
$
87,275

Property
 
25,271

 
27,980

 
79,059

 
79,551

Workers' compensation
 
24,249

 
25,373

 
74,380

 
75,419

Other liability
 
31,399

 
24,996

 
81,952

 
73,378

Other
 
2,368

 
2,203

 
6,782

 
6,509

Total commercial lines
 
116,138

 
110,781

 
337,328

 
322,132

 
 
 
 
 
 
 
 
 
Personal lines
 
10,075

 
9,691

 
29,012

 
28,175

Total property and casualty insurance
 
$
126,213

 
$
120,472

 
$
366,340

 
$
350,307

 
 
 
 
 
 
 
 
 
Reinsurance
 
 
 
 
 
 
 
 
Pro rata reinsurance
 
$
10,484

 
$
10,730

 
$
33,627

 
$
33,181

Excess of loss reinsurance
 
27,011

 
23,988

 
77,473

 
66,026

Total reinsurance
 
$
37,495

 
$
34,718

 
$
111,100

 
$
99,207

 
 
 
 
 
 
 
 
 
Consolidated
 
$
163,708

 
$
155,190

 
$
477,440

 
$
449,514