Reportable Segments

9 Months Ended

Sep. 30, 2015

Reportable Segments [Abstract]

Reportable Segments

(4) Reportable Segments:

The Company has two reportable business segments in its operations:  Property and Casualty Insurance and Reinsurance.

The Property and Casualty Insurance segment provides multiple line insurance coverage primarily to fleet transportation companies as well as to independent contractors who contract with fleet transportation companies. In addition, the Company provides private passenger automobile products to individuals, workers' compensation coverage to small businesses and professional liability products on a selective basis.

The Reinsurance segment currently accepts professional liability cessions from other insurance companies.  From 1992 until July 1, 2014, the Reinsurance segment accepted property cessions from other insurance companies and retrocessions from reinsurance companies, principally reinsuring against catastrophes.  Final exposure to property catastrophe losses expired on June 30, 2015.

The following table provides certain revenue and profit and loss information for each reportable segment. All amounts presented are computed based upon U.S. generally accepted accounting principles.  Segment profit for Property and Casualty Insurance includes the direct marketing agency operations conducted by the parent company for this segment and is computed after elimination of inter-company commissions.

	2015						2014
	Direct and Assumed Premium Written		Net Premium Earned		Segment Profit		Direct and Assumed Premium Written		Net Premium Earned		Segment Profit (Loss)
Three months ended September 30:
Property and Casualty Insurance	$	92,584	$	60,837	$	14,513	$	84,644	$	57,097	$	9,520
Reinsurance		3,368		4,608		86		9,947		8,850		(906	)
Totals	$	95,952	$	65,445	$	14,599	$	94,591	$	65,947	$	8,614
Nine months ended September 30:
Property and Casualty Insurance	$	272,260	$	180,152	$	31,195	$	253,394	$	163,613	$	23,726
Reinsurance		13,467		17,188		1,099		31,049		29,081		196
Totals	$	285,727	$	197,340	$	32,294	$	284,443	$	192,694	$	23,922

The following table reconciles reportable segment income to the Company's consolidated income before federal income taxes.

	Three Months Ended						Nine Months Ended
	September 30						September 30
	2015			2014			2015			2014
Profit:
Segment profit	$	14,599		$	8,614		$	32,294		$	23,922
Net investment income		3,014			2,073			8,727			6,456
Net realized gains (losses) on investments		(2,086	)		658			491			12,817
Corporate expenses and other		(3,917	)		(2,797	)		(12,181	)		(11,171	)
Income before federal income taxes	$	11,610		$	8,548		$	29,331		$	32,024

Segment profit includes both net premiums earned and fees and other income associated with the business conducted by the segment.

Management does not identify or allocate assets to reportable segments when evaluating segment performance and depreciation expense is not material for any of the reportable segments.