OPERATING SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2013

OPERATING SEGMENT INFORMATION

Schedule of revenues and net earnings by segment

SEGMENT DATA (in thousands)

	For the Three-Month Periods				For the Nine-Month Periods
	Ended September 30,				Ended September 30,
	REVENUES				REVENUES
	2013		2012		2013		2012
Net premiums earned:
Casualty	$	83,966	$	68,194	$	235,307	$	197,409
Property	52,705		54,741		147,305		151,581
Surety	27,031		27,008		79,794		79,817
Segment totals before income taxes	$	163,702	$	149,943	$	462,406	$	428,807
Net investment income	13,598		14,221		39,331		44,340
Net realized gains	10,999		5,481		18,425		16,233
Total consolidated revenue	$	188,299	$	169,645	$	520,162	$	489,380

	NET EARNINGS						NET EARNINGS
	2013			2012			2013			2012
Casualty	$	20,799		$	10,806		$	39,517		$	22,409
Property	6,468			(310		)	19,614			11,317
Surety	4,551			8,034			18,044			21,368
Net underwriting income	$	31,818		$	18,530		$	77,175		$	55,094
Net investment income	13,598			14,221			39,331			44,340
Net realized gains	10,999			5,481			18,425			16,233
General corporate expense and interest on debt	(3,670		)	(3,611		)	(10,773		)	(10,438		)
Equity in earnings of unconsolidated investee	2,564			1,859			10,696			8,928
Total earnings before income taxes	$	55,309		$	36,480		$	134,854		$	114,157
Income tax expense	17,662			11,017			42,458			35,908
Total net earnings	$	37,647		$	25,463		$	92,396		$	78,249

Schedule of net premiums earned by major product type

	For the Three-Month Periods				For the Nine-Month Periods
	Ended September 30,				Ended September 30,
(in thousands)	2013		2012		2013		2012
Casualty
General liability	$	20,342	$	21,556	$	61,139	$	63,449
Commercial and personal umbrella	22,247		17,430		61,803		50,337
Commercial transportation	13,463		8,583		35,594		25,252
P&C package business	7,643		7,479		22,671		21,334
Executive products	4,550		3,914		13,175		11,666
Professional services	11,021		7,386		30,092		19,704
Medical professional liability	2,674		—		5,136		—
Other	2,026		1,846		5,697		5,667
Total	$	83,966	$	68,194	$	235,307	$	197,409
Property
Commercial property	$	18,938	$	18,640	$	57,813	$	55,285
Marine	14,242		14,026		43,898		44,591
Crop reinsurance	11,846		9,876		19,501		15,992
Property reinsurance	2,848		6,826		12,503		20,193
Other property	4,831		5,373		13,590		15,520
Total	$	52,705	$	54,741	$	147,305	$	151,581
Surety
Miscellaneous	$	9,590	$	10,026	$	28,559	$	29,600
Contract	7,025		6,835		20,137		19,507
Commercial	5,857		5,574		17,285		16,536
Oil and Gas	4,559		4,573		13,813		14,174
Total	$	27,031	$	27,008	$	79,794	$	79,817
Grand Total	$	163,702	$	149,943	$	462,406	$	428,807