Segment Information

12 Months Ended

Dec. 31, 2013

Segment Information [Abstract]

Segment Information

NOTE 13 - Segment Information

The Company conducts and manages its business through four segments. The three operating segments, representing the major lines of insurance business, are: property and casualty insurance, primarily personal lines automobile and homeowners products; retirement annuity products, primarily tax-qualified fixed and variable deposits; and life insurance. The Company does not allocate the impact of corporate-level transactions to the insurance segments, consistent with the basis for management’s evaluation of the results of those segments, but classifies those items in the fourth segment, corporate and other. In addition to ongoing transactions such as corporate debt service, realized investment gains and losses and certain public company expenses, such items also have included corporate debt retirement costs/gains, when applicable.

The accounting policies of the segments are the same as those described in “Note 1 -- Summary of Significant Accounting Policies”. The Company accounts for intersegment transactions, primarily the allocation of agent and overhead costs from the corporate and other segment to the property and casualty, annuity and life segments, on a direct cost basis.

Summarized financial information for these segments is as follows:

	Year Ended December 31,
	2013		2012		2011
Insurance premiums and contract charges earned
Property and casualty	$	561,954	$	546,339	$	547,540
Annuity		22,575		21,794		18,883
Life		106,409		102,394		100,697
Total	$	690,938	$	670,527	$	667,120
Net investment income
Property and casualty	$	36,208	$	36,792	$	36,886
Annuity		208,419		200,785		182,806
Life		69,932		69,409		69,633
Corporate and other		7		2		(3)
Intersegment eliminations		(956)		(985)		(1,011)
Total	$	313,610	$	306,003	$	288,311
Net income
Property and casualty	$	44,433	$	37,043	$	5,844
Annuity		44,719		40,527		30,906
Life		20,339		21,912		19,435
Corporate and other		1,402		4,384		14,321
Total	$	110,893	$	103,866	$	70,506

	December 31,
	2013		2012		2011
Assets
Property and casualty	$	1,001,561	$	1,016,368	$	957,266
Annuity		5,963,348		5,380,780		4,926,204
Life		1,743,084		1,663,696		1,459,919
Corporate and other		154,557		131,449		115,367
Intersegment eliminations		(35,878)		(24,567)		(23,587)
Total	$	8,826,672	$	8,167,726	$	7,435,169

Additional significant financial information for these segments is as follows:

	Year Ended December 31,
	2013		2012		2011
Policy acquisition expenses amortized
Property and casualty	$	68,516	$	63,768	$	61,374
Annuity		7,957		6,868		12,334
Life		8,170		8,883		9,690
Total	$	84,643	$	79,519	$	83,398
Income tax expense (benefit)
Property and casualty	$	12,740	$	10,849	$	(5,183)
Annuity		18,531		19,046		13,499
Life		10,919		12,305		11,366
Corporate and other		983		3,107		4,730
Total	$	43,173	$	45,307	$	24,412