OPERATING SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2018

OPERATING SEGMENT INFORMATION

Schedule of revenues and net earnings by segment

	For the Three-Month Periods				For the Six-Month Periods
REVENUES	Ended June 30,				Ended June 30,
(in thousands)	2018		2017		2018		2017
Casualty	$	129,613	$	119,259	$	255,463	$	236,243
Property		37,190		34,485		72,372		70,290
Surety		29,719		30,587		58,714		61,083
Net premiums earned	$	196,522	$	184,331	$	386,549	$	367,616
Net investment income		14,577		13,238		28,809		26,243
Net realized gains (losses)		20,849		(1,359)		29,253		(735)
Net unrealized losses on equity securities		(12,611)		-		(39,383)		-
Total consolidated revenue	$	219,337	$	196,210	$	405,228	$	393,124
NET EARNINGS
(in thousands)	2018		2017		2018		2017
Casualty	$	2,854	$	8,648	$	4,415	$	1,767
Property		3,647		2,863		9,529		11,667
Surety		7,645		8,232		17,689		19,366
Net underwriting income	$	14,146	$	19,743	$	31,633	$	32,800
Net investment income		14,577		13,238		28,809		26,243
Net realized gains (losses)		20,849		(1,359)		29,253		(735)
Net unrealized losses on equity securities		(12,611)		-		(39,383)		-
General corporate expense and interest on debt		(4,499)		(4,392)		(8,638)		(9,573)
Equity in earnings of unconsolidated investees		7,100		6,806		12,266		11,744
Total earnings before income taxes	$	39,562	$	34,036	$	53,940	$	60,479
Income tax expense		6,311		7,828		8,473		14,443
Total net earnings	$	33,251	$	26,208	$	45,467	$	46,036

Schedule of net premiums earned by major product type

	For the Three-Month Periods				For the Six-Month Periods
NET PREMIUMS EARNED	Ended June 30,				Ended June 30,
(in thousands)	2018		2017		2018		2017
Casualty
Commercial and personal umbrella	$	30,649	$	28,861	$	60,601	$	57,438
General liability		23,338		22,851		46,503		44,434
Commercial transportation		20,648		20,395		39,823		41,496
Professional services		19,846		20,016		39,669		39,242
Small commercial		12,901		11,765		25,791		24,052
Executive products		5,144		4,438		10,196		8,850
Medical professional liability		4,362		4,265		8,834		8,556
Other casualty		12,725		6,668		24,046		12,175
Total	$	129,613	$	119,259	$	255,463	$	236,243
Property
Commercial property	$	17,856	$	15,873	$	34,807	$	31,591
Marine		14,941		11,607		28,798		23,893
Specialty personal		4,129		5,508		8,271		11,526
Property reinsurance		14		1,479		26		3,262
Other property		250		18		470		18
Total	$	37,190	$	34,485	$	72,372	$	70,290
Surety
Miscellaneous	$	11,719	$	11,854	$	23,361	$	23,711
Commercial		6,761		6,938		13,474		14,081
Contract		7,012		7,147		13,358		14,231
Energy		4,227		4,648		8,521		9,060
Total	$	29,719	$	30,587	$	58,714	$	61,083
Grand Total	$	196,522	$	184,331	$	386,549	$	367,616