OPERATING SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2014

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
	2014		2013		2014		2013
Net premiums earned:
Casualty	$	96,181	$	83,966	$	281,518	$	235,307
Property		54,143		52,705		146,252		147,305
Surety		27,423		27,031		79,713		79,794
Segment totals before income taxes	$	177,747	$	163,702	$	507,483	$	462,406
Net investment income		14,200		13,598		41,764		39,331
Net realized gains		5,708		10,999		22,640		18,425
Total consolidated revenue	$	197,655	$	188,299	$	571,887	$	520,162
	NET EARNINGS				NET EARNINGS
	2014		2013		2014		2013
Casualty	$	13,786	$	20,799	$	36,331	$	39,517
Property		7,498		6,468		19,469		19,614
Surety		9,144		4,551		23,729		18,044
Net underwriting income	$	30,428	$	31,818	$	79,529	$	77,175
Net investment income		14,200		13,598		41,764		39,331
Net realized gains		5,708		10,999		22,640		18,425
General corporate expense and interest on debt		(4,657)		(3,670)		(13,129)		(10,773)
Equity in earnings of unconsolidated investees		2,915		2,564		12,204		10,696
Total earnings before income taxes	$	48,594	$	55,309	$	143,008	$	134,854
Income tax expense		15,340		17,662		45,060		42,458
Total net earnings	$	33,254	$	37,647	$	97,948	$	92,396

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)	2014		2013		2014		2013
Casualty
Commercial and personal umbrella	$	25,256	$	22,247	$	75,036	$	61,803
General liability		20,095		20,342		60,550		61,139
Commercial transportation		14,677		13,463		44,193		35,594
Professional services		15,227		11,021		41,927		30,092
P&C package business		8,969		7,643		25,747		22,671
Executive products		4,760		4,933		14,165		14,300
Medical professional liability		3,546		2,674		10,970		5,136
Other casualty		3,651		1,643		8,930		4,572
Total	$	96,181	$	83,966	$	281,518	$	235,307
Property
Commercial property	$	20,188	$	18,938	$	60,675	$	57,813
Marine		12,115		14,242		37,278		43,898
Crop reinsurance		11,802		11,846		18,671		19,501
Property reinsurance		2,997		2,848		9,745		12,503
Other property		7,041		4,831		19,883		13,590
Total	$	54,143	$	52,705	$	146,252	$	147,305
Surety
Miscellaneous	$	9,868	$	9,590	$	28,948	$	28,559
Contract		6,879		7,025		19,896		20,137
Commercial		6,521		5,857		18,968		17,285
Oil and Gas		4,155		4,559		11,901		13,813
Total	$	27,423	$	27,031	$	79,713	$	79,794
Grand Total	$	177,747	$	163,702	$	507,483	$	462,406