OPERATING SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2017

OPERATING SEGMENT INFORMATION

OPERATING SEGMENT INFORMATION

7.  OPERATING SEGMENT INFORMATION

Selected information by operating segment is presented in the table below. Additionally, the table reconciles segment totals to total earnings and total revenues.

	For the Three-Month Periods
REVENUES	Ended March 31,
(in thousands)	2017		2016
Casualty	$	116,984	$	108,593
Property		35,805		38,685
Surety		30,496		29,640
Net premiums earned	$	183,285	$	176,918
Net investment income		13,005		13,370
Net realized gains		624		11,400
Total consolidated revenue	$	196,914	$	201,688
NET EARNINGS
(in thousands)	2017		2016
Casualty	$	(6,881)	$	9,106
Property		8,804		6,198
Surety		11,134		6,000
Net underwriting income	$	13,057	$	21,304
Net investment income		13,005		13,370
Net realized gains		624		11,400
General corporate expense and interest on debt		(5,181)		(4,232)
Equity in earnings of unconsolidated investees		4,938		3,751
Total earnings before income taxes	$	26,443	$	45,593
Income tax expense		6,615		14,200
Total net earnings	$	19,828	$	31,393

The following table further summarizes revenues by major product type within each operating segment:

	For the Three-Month Periods
NET PREMIUMS EARNED	Ended March 31,
(in thousands)	2017		2016
Casualty
Commercial and personal umbrella	$	28,577	$	27,130
General liability		21,583		20,724
Commercial transportation		21,101		18,274
Professional services		19,226		18,538
Small commercial		12,287		10,900
Executive products		4,412		4,835
Medical professional liability		4,291		3,815
Other casualty		5,507		4,377
Total	$	116,984	$	108,593
Property
Commercial property	$	15,718	$	17,596
Marine		12,286		12,300
Specialty personal		6,018		6,308
Property reinsurance		1,783		2,762
Crop reinsurance		5		(281)
Other property		(5)		-
Total	$	35,805	$	38,685
Surety
Miscellaneous	$	11,857	$	11,097
Commercial		7,143		7,354
Contract		7,084		6,743
Energy		4,412		4,446
Total	$	30,496	$	29,640
Grand Total	$	183,285	$	176,918