Segments

3 Months Ended

Mar. 31, 2014

Segments [Abstract]

Segments

(10) Segments

We report HCC's results in six operating segments, including the following five insurance underwriting segments:

• U.S. Property & Casualty
• Professional Liability
• Accident & Health
• U.S. Surety & Credit
• International

The Investing segment includes our consolidated investment portfolio, as well as all investment income, investment related expenses, realized investment gains and losses, and other-than-temporary impairment credit losses on investments. All investment activity is reported as revenue, consistent with our consolidated presentation.

In addition to our segments, we include a Corporate & Other category to reconcile segment results to consolidated totals. The Corporate & Other category includes corporate operating expenses not allocated to the segments, interest expense on long-term debt, foreign currency expense (benefit), and underwriting results of our Exited Lines. Our Exited Lines include product lines that we no longer write and do not expect to write in the future.

The following tables present information by business segment.

			U.S. Property		Professional		Accident		U.S. Surety						Corporate
			& Casualty		Liability		& Health		& Credit		International		Investing		& Other		Consolidated
Three months ended March 31, 2014
Net earned premium			$	97,052	$	85,450	$	232,143	$	46,943	$	100,733	$	0	$	291	$	562,612
Other revenue				5,876		275		1,640		288		968		77,052		219		86,318
	Segment revenue			102,928		85,725		233,783		47,231		101,701		77,052		510		648,930
Loss and LAE				46,655		51,132		168,999		13,696		41,615		0		(253)		321,844
Other expense				29,093		17,125		36,379		25,944		38,677		0		24,896		172,114
	Segment expense			75,748		68,257		205,378		39,640		80,292		0		24,643		493,958
		Segment pretax earnings (loss)	$	27,180	$	17,468	$	28,405	$	7,591	$	21,409	$	77,052	$	(24,133)	$	154,972

Three months ended March 31, 2013
Net earned premium			$	93,531	$	92,779	$	217,125	$	47,177	$	105,142	$	0	$	5,432	$	561,186
Other revenue				7,184		(414)		1,190		237		778		64,335		(130)		73,180
	Segment revenue			100,715		92,365		218,315		47,414		105,920		64,335		5,302		634,366
Loss and LAE				52,156		56,386		160,427		13,214		45,919		0		4,595		332,697
Other expense				27,305		17,748		31,126		26,279		35,709		0		12,106		150,273
	Segment expense			79,461		74,134		191,553		39,493		81,628		0		16,701		482,970
		Segment pretax earnings (loss)	$	21,254	$	18,231	$	26,762	$	7,921	$	24,292	$	64,335	$	(11,399)	$	151,396