Segment Information

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Segment Information

The Company conducts and manages its business through five segments. See Note 1 for a description of the Company's reporting segments that changed effective in the third quarter of 2019. The four operating segments, representing the major lines of insurance business, are: Property and Casualty (primarily personal lines automobile and property insurance products), the newly created Supplemental (primarily heart, cancer, accident and limited short-term supplemental disability insurance coverages), Retirement (primarily tax-qualified fixed and variable annuities) and Life (life insurance). The Company does not allocate the impact of corporate-level transactions to these operating segments, consistent with the basis for management's evaluation of the results of those segments, but classifies those items in the fifth segment, Corporate and Other. In addition to ongoing transactions such as corporate debt service, net investment gains (losses) and certain public company expenses, such items also have included corporate debt retirement costs, when applicable. Summarized financial information for these segments is as follows:

($ in thousands)	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Insurance premiums and contract charges earned
Property and Casualty	$	166,070	$	170,483	$	488,756	$	512,626
Supplemental (1)	32,480		32,921		98,772		32,921
Retirement	7,389		6,624		21,486		22,133
Life	29,414		29,653		88,035		89,882
Total	$	235,353	$	239,681	$	697,049	$	657,562
Net investment income
Property and Casualty	$	13,632	$	10,726	$	30,250	$	33,587
Supplemental (1)	4,321		3,691		11,876		3,691
Retirement	58,115		60,770		166,684		188,193
Life	18,244		18,453		49,432		54,829
Corporate and Other	(30)		—		(142)		(37)
Intersegment eliminations	(564)		(569)		(1,697)		(934)
Total	$	93,718	$	93,071	$	256,403	$	279,329
Net income (loss)
Property and Casualty	$	15,810	$	14,194	$	53,669	$	34,347
Supplemental (1)	10,546		6,943		30,562		6,943
Retirement	7,792		5,915		16,578		(6,979)
Life	4,306		5,101		6,869		13,617
Corporate and Other	(1,980)		(6,699)		(22,154)		103,514
Total	$	36,474	$	25,454	$	85,524	$	151,442

($ in thousands)	September 30, 2020		December 31, 2019
Assets
Property and Casualty	$	1,354,685	$	1,327,099
Supplemental	828,760		747,602
Retirement	8,609,262		8,330,127
Life	2,108,067		1,964,993
Corporate and Other	167,697		172,955
Intersegment eliminations	(65,083)		(64,072)
Total	$	13,003,388	$	12,478,704

(1)    Acquired on July 1, 2019. The nine month comparison is not meaningful.