OPERATING SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2012

OPERATING SEGMENT INFORMATION

Schedule of revenues and net earnings by segment

SEGMENT DATA (in thousands)

	For the Three-Month Periods
	Ended March 31,
	REVENUES
	2012		2011
Casualty	$	63,510	$	54,979
Property	46,992		40,826
Surety	26,778		20,246
Net premiums earned	$	137,280	$	116,051
Net investment income	15,293		16,303
Net realized gains (losses)	11,416		4,472
Total consolidated revenue	$	163,989	$	136,826

	NET EARNINGS
	2012			2011
Casualty	$	552		$	5,537
Property	11,917			10,033
Surety	2,472			5,377
Net underwriting income	$	14,941		$	20,947
Net investment income	15,293			16,303
Net realized gains (losses)	11,416			4,472
General corporate expense and interest on debt	(3,487		)	(3,517		)
Equity in earnings of unconsolidated investee	2,946			2,616
Total earnings before income taxes	$	41,109		$	40,821
Income tax expense	13,071			13,115
Total net earnings	$	28,038		$	27,706

Schedule of net premiums earned by major product type

	For the Three-Month Periods
	Ended March 31,
(in thousands)	2012		2011
Casualty
General liability	$	20,757	$	21,964
Commercial and personal umbrella	16,160		15,572
Commercial transportation	8,307		8,913
P&C package business	6,899		—
Executive products	3,810		3,522
Professional services	5,668		2,189
Specialty programs	705		1,340
Other	1,204		1,479
Total	$	63,510	$	54,979
Property
Commercial property	$	18,552	$	20,213
Marine	15,214		12,472
Crop reinsurance	1,050		1,072
Property reinsurance	7,387		3,789
Other property	4,789		3,280
Total	$	46,992	$	40,826
Surety
Miscellaneous	$	9,786	$	6,366
Contract	6,550		4,378
Commercial	5,405		5,062
Oil and Gas	5,037		4,440
Total	$	26,778	$	20,246
Grand Total	$	137,280	$	116,051