OPERATING SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2019

OPERATING SEGMENT INFORMATION

Schedule of revenues and net earnings by segment

	For the Three-Month Periods				For the Nine-Month Periods
REVENUES	Ended September 30,				Ended September 30,
(in thousands)	2019		2018		2019		2018
Casualty	$	140,423	$	131,605	$	415,667	$	387,068
Property		41,476		39,067		120,194		111,439
Surety		29,356		30,143		87,624		88,857
Net premiums earned	$	211,255	$	200,815	$	623,485	$	587,364
Net investment income		17,532		16,314		51,095		45,123
Net realized gains		3,211		18,647		17,043		47,900
Net unrealized gains (losses) on equity securities		4,906		4,848		47,214		(34,535)
Total consolidated revenue	$	236,904	$	240,624	$	738,837	$	645,852
NET EARNINGS
(in thousands)	2019		2018		2019		2018
Casualty	$	2,370	$	(1,974)	$	14,652	$	2,441
Property		6,202		2,621		14,012		12,150
Surety		5,159		7,115		22,432		24,804
Net underwriting income	$	13,731	$	7,762	$	51,096	$	39,395
Net investment income		17,532		16,314		51,095		45,123
Net realized gains		3,211		18,647		17,043		47,900
Net unrealized gains (losses) on equity securities		4,906		4,848		47,214		(34,535)
General corporate expense and interest on debt		(4,444)		(4,809)		(14,725)		(13,447)
Equity in earnings of unconsolidated investees		4,011		3,587		17,793		15,853
Total earnings before income taxes	$	38,947	$	46,349	$	169,516	$	100,289
Income tax expense		6,623		6,977		31,252		15,450
Total net earnings	$	32,324	$	39,372	$	138,264	$	84,839

Schedule of net premiums earned by major product type

	For the Three-Month Periods				For the Nine-Month Periods
NET PREMIUMS EARNED	Ended September 30,				Ended September 30,
(in thousands)	2019		2018		2019		2018
Casualty
Commercial excess and personal umbrella	$	35,959	$	31,244	$	102,580	$	91,845
General liability		25,005		22,485		74,240		68,988
Commercial transportation		21,067		20,747		61,979		60,570
Professional services		20,816		19,890		60,390		59,559
Small commercial		13,927		12,883		40,430		38,674
Executive products		7,026		5,352		19,476		15,548
Other casualty		16,623		19,004		56,572		51,884
Total	$	140,423	$	131,605	$	415,667	$	387,068
Property
Marine	$	19,033	$	16,068	$	54,633	$	44,866
Commercial property		17,098		18,489		50,248		53,296
Specialty personal		4,948		4,228		14,324		12,499
Other property		397		282		989		778
Total	$	41,476	$	39,067	$	120,194	$	111,439
Surety
Miscellaneous	$	10,998	$	11,822	$	33,880	$	35,183
Contract		7,507		7,474		21,106		20,832
Commercial		7,209		6,863		21,020		20,337
Energy		3,642		3,984		11,618		12,505
Total	$	29,356	$	30,143	$	87,624	$	88,857
Grand Total	$	211,255	$	200,815	$	623,485	$	587,364