OPERATING SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2011

OPERATING SEGMENT INFORMATION

Schedule of reconciliation of revenues and net earnings from segments to consolidated

SEGMENT DATA (in thousands)

	For the Three-Month Periods						For the Nine-Month Periods
	Ended September 30,						Ended September 30,
	REVENUES						REVENUES
	2011			2010			2011			2010
Casualty	$	60,626		$	57,684		$	173,937		$	175,690
Property	59,226			50,167			148,015			132,133
Surety	26,700			20,483			71,477			58,533
Net premiums earned	$	146,552		$	128,334		$	393,429		$	366,356
Net investment income	15,954			16,762			47,437			50,127
Net realized gains (losses)	(177		)	4,527			14,345			15,281
Total consolidated revenue	$	162,329		$	149,623		$	455,211		$	431,764
	NET EARNINGS						NET EARNINGS
	2011			2010			2011			2010
Casualty	$	23,794		$	8,977		$	55,388		$	23,185
Property	(1,926		)	5,288			16,622			22,669
Surety	2,868			7,461			17,523			19,388
Net underwriting income	$	24,736		$	21,726		$	89,533		$	65,242
Net investment income	15,954			16,762			47,437			50,127
Net realized gains (losses)	(177		)	4,527			14,345			15,281
General corporate expense and interest on debt	(3,107		)	(3,660		)	(10,100		)	(9,943		)
Equity in earnings of unconsolidated investee	713			1,648			7,215			7,327
Total earnings before income taxes	$	38,119		$	41,003		$	148,430		$	128,034
Income tax expense	12,062			13,038			48,531			40,854
Total net earnings	$	26,057		$	27,965		$	99,899		$	87,180

Schedule of revenues by major product type

	For the Three-Month Periods				For the Nine-Month Periods
	Ended September 30,				Ended September 30,
(in thousands)	2011		2010		2011		2010
Casualty
General liability	$	20,693	$	23,874	$	63,817	$	73,653
Commercial and personal umbrella	15,825		15,361		47,110		45,855
Commercial transportation	8,326		10,088		25,843		30,871
Executive products	4,455		4,015		13,013		11,752
P&C package business	6,126		—		10,235		—
Professional services	2,916		1,092		6,304		2,676
Specialty programs	948		1,604		3,377		5,717
Other	1,337		1,650		4,238		5,166
Total	$	60,626	$	57,684	$	173,937	$	175,690
Property
Commercial property	$	20,295	$	20,122	$	60,894	$	60,284
Marine	13,544		11,891		38,865		35,119
Crop reinsurance	14,873		11,478		22,207		17,478
Property reinsurance	6,491		3,834		14,860		10,803
Other property	4,023		2,842		11,189		8,449
Total	$	59,226	$	50,167	$	148,015	$	132,133
Surety	$	26,700	$	20,483	$	71,477	$	58,533
Grand Total	$	146,552	$	128,334	$	393,429	$	366,356