Segment Information

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Segment Information

NOTE 14 - 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 operating and agency 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,
	2015			2014			2013
Insurance premiums and contract charges earned
Property and casualty	$	595,958		$	581,828		$	561,954
Annuity		25,378			25,540			22,575
Life		110,544			108,392			106,409
Total	$	731,880		$	715,760		$	690,938
Net investment income
Property and casualty	$	33,461		$	36,790		$	36,208
Annuity		228,378			222,071			208,419
Life		71,614			71,865			69,932
Corporate and other		38			14			7
Intersegment eliminations		(891	)		(925	)		(956	)
Total	$	332,600		$	329,815		$	313,610
Net income (loss)
Property and casualty	$	40,043		$	46,907		$	44,433
Annuity		43,384			45,336			44,719
Life		14,982			17,503			20,339
Corporate and other		(4,927	)		(5,503	)		1,402
Total	$	93,482		$	104,243		$	110,893

	December 31,
	2015			2014			2013
Assets
Property and casualty	$	1,098,415		$	1,107,962		$	1,001,561
Annuity		7,001,411			6,683,473			5,963,348
Life		1,862,719			1,858,150			1,743,084
Corporate and other		134,006			155,678			154,557
Intersegment eliminations		(37,208	)		(36,736	)		(35,878	)
Total	$	10,059,343		$	9,768,527		$	8,826,672

Additional significant financial information for these segments is as follows:

	Year Ended December 31,
	2015			2014			2013
Policy acquisition expenses amortized
Property and casualty	$	73,173		$	71,327		$	68,516
Annuity		18,155			14,781			7,957
Life		7,591			7,709			8,170
Total	$	98,919		$	93,817		$	84,643
Income tax expense (benefit)
Property and casualty	$	11,274		$	13,944		$	12,740
Annuity		19,873			21,319			18,531
Life		7,951			9,432			10,919
Corporate and other		(3,128	)		(2,825	)		983
Total	$	35,970		$	41,870		$	43,173