Note 15. Segment Information

The Parent’s primary insurance subsidiaries operate with relative autonomy and each company is evaluated based on its individual performance. American Southern operates in the property and casualty insurance market, while Bankers Fidelity operates in the life and health insurance market. Each segment derives revenue from the collection of premiums, as well as from investment income. Substantially all revenue other than that in the corporate and other segment is from external sources.

	For the Year Ended December 31, 2018
	American Southern			Bankers Fidelity			Corporate & Other			Adjustments & Eliminations			Consolidated

Insurance premiums, net	$	53,807		$	119,124		$	-		$	-		$	172,931
Insurance benefits and losses incurred		38,829			93,821			-			-			132,650
Expenses deferred		(7,893	)		(14,118	)		-			-			(22,011	)
Amortization and depreciation expense		7,991			9,892			715			-			18,598
Other expenses		14,666			36,514			16,613			(10,506	)		57,287
Total expenses		53,593			126,109			17,328			(10,506	)		186,524
Underwriting income (loss)		214			(6,985	)
Net investment income		3,783			5,382			2,895			(2,511	)		9,549
Other income		8			7			8,093			(7,995	)		113
Operating income (loss)		4,005			(1,596	)		(6,340	)		-			(3,931	)
Net realized gains		1,876			3,006			272			-			5,154
Unrealized losses on equity securities		(220	)		(514	)		(1,460	)		-			(2,194	)
Income (loss) before income taxes	$	5,661		$	896		$	(7,528	)	$	-		$	(971	)
Total revenues	$	59,254		$	127,005		$	9,800		$	(10,506	)	$	185,553
Intangibles	$	1,350		$	1,194		$	-		$	-		$	2,544
Total assets	$	122,724		$	195,663		$	134,643		$	(108,756	)	$	344,274

	For the Year Ended December 31, 2017
	American Southern			Bankers Fidelity			Corporate & Other			Adjustments & Eliminations			Consolidated

Insurance premiums, net	$	53,661		$	109,666		$	-		$	-		$	163,327
Insurance benefits and losses incurred		34,486			83,029			-			-			117,515
Expenses deferred		(8,062	)		(11,693	)		-			-			(19,755	)
Amortization and depreciation expense		8,543			8,232			712			-			17,487
Other expenses		15,951			38,195			16,191			(9,826	)		60,511
Total expenses		50,918			117,763			16,903			(9,826	)		175,758
Underwriting income (loss)		2,743			(8,097	)
Net investment income		3,332			5,021			2,267			(2,124	)		8,496
Other income		11			8			7,806			(7,702	)		123
Operating income (loss)		6,086			(3,068	)		(6,830	)		-			(3,812	)
Net realized gains		2,481			2,800			3,887			-			9,168
Income (loss) before income taxes	$	8,567		$	(268	)	$	(2,943	)	$	-		$	5,356
Total revenues	$	59,485		$	117,495		$	13,960		$	(9,826	)	$	181,114
Intangibles	$	1,350		$	1,194		$	-		$	-		$	2,544
Total assets	$	126,313		$	185,624		$	147,653		$	(116,351	)	$	343,239