EX-99.2 3 q22011-supplementaltables.htm Q22011-Supplemental Tables


Exhibit 99.2
Supplemental Tables

The following table displays our consolidated results of operations for the three-month and six-month periods ended June 30, 2011 and 2010.
Income Statement:
Three Months Ended June 30,
 
Six Months Ended June 30,
(In Thousands)
2011
 
2010
 
2011
 
2010
Revenues
 
 
 
 
 
 
 
Net premiums written (1)
$
172,196

 
$
128,749

 
$
295,355

 
$
248,185

Net premiums earned
$
152,210

 
$
117,082

 
$
266,414

 
$
231,390

Investment income, net of investment expenses
27,741

 
28,291

 
54,804

 
56,259

Realized investment gains

 
 
 

 
 
Other-than-temporary impairment charges

 
(117
)
 

 
(459
)
All other realized gains
1,124

 
2,463

 
3,777

 
5,531

Total realized investment gains
1,124

 
2,346

 
3,777

 
5,072

Other income
729

 
295

 
885

 
418

Total Revenues
$
181,804

 
$
148,014

 
$
325,880

 
$
293,139

 

 
 
 

 
 
Benefits, Losses and Expenses

 
 
 

 
 
Losses and loss settlement expenses
$
135,811

 
$
72,757

 
$
211,993

 
$
141,120

Increase in liability for future policy benefits
7,880

 
7,375

 
16,062

 
13,765

Amortization of deferred policy acquisition costs
43,732

 
27,922

 
69,778

 
54,438

Other underwriting expenses
14,720

 
10,973

 
30,777

 
20,186

Interest on policyholders’ accounts
10,657

 
10,647

 
21,327

 
21,448

Total Benefits, Losses and Expenses
$
212,800

 
$
129,674

 
$
349,937

 
$
250,957

 

 

 

 

Income (loss) before income taxes
(30,996
)
 
18,340

 
(24,057
)
 
42,182

Federal income tax expense (benefit)
(13,082
)
 
4,409

 
(11,953
)
 
9,138

Net income (loss)
$
(17,914
)
 
$
13,931

 
$
(12,104
)
 
$
33,044

(1) The Statutory Financial Measures section of our July 26, 2011 press release defines data prepared in accordance with statutory accounting practices, which is a comprehensive basis of accounting other than U.S. GAAP.









The following table displays our consolidated financial condition at June 30, 2011 and December 31, 2010.
Balance Sheet:
June 30, 2011
 
December 31, 2010
(In Thousands)
 
 
 
Total invested assets:
 
 
 
Property and casualty segment
$
1,284,623

 
$
947,176

Life insurance segment
1,582,787

 
1,535,722

Total cash and investments
3,044,824

 
2,662,955

Total assets
3,621,934

 
3,007,439

Future policy benefits and losses, claims and loss settlement expenses
$
2,369,465

 
$
1,992,421

Total liabilities
2,917,161

 
2,291,015

Net unrealized investment gains, after-tax
$
115,104

 
$
102,649

Total stockholders’ equity
704,773

 
716,424

 
 
 
 
Property and casualty insurance statutory capital and surplus (1) (2)
$
575,201

 
$
594,308

Life insurance statutory capital and surplus (2)
160,082

 
158,379

(1) Because United Fire & Casualty Company owns United Life Insurance Company, the property and casualty insurance statutory capital and surplus includes life insurance statutory capital and surplus and therefore represents our total consolidated statutory capital and surplus.
(2) The Statutory Financial Measures section of our July 26, 2011 press release defines data prepared in accordance with statutory accounting practices, which is a comprehensive basis of accounting other than U.S. GAAP.







The following tables display our net premiums written by line of business for the three-month and six-month periods ended June 30, 2011 and 2010.

 
Three Months Ended June 30,
 
Six Months Ended June 30,
(In Thousands)
2011
 
2010
 
2011
 
2010
Net Premiums Written
 
 
 
 
 
 
 
Commercial lines:
 
 
 
 
 
 
 
Other liability (1)
$
34,736

 
$
32,414

 
$
65,029

 
$
61,562

Fire and allied lines (2)
49,612

 
26,121

 
75,560

 
51,703

Automobile
35,595

 
26,001

 
59,976

 
50,441

Workers’ compensation
14,745

 
12,967

 
29,984

 
26,567

Fidelity and surety
5,044

 
5,519

 
8,539

 
9,570

Miscellaneous
234

 
213

 
460

 
435

Total commercial lines
$
139,966

 
$
103,235

 
$
239,548

 
$
200,278

 

 

 

 

Personal lines:

 

 

 

Fire and allied lines (3)
$
10,399

 
$
6,611

 
$
16,220

 
$
12,179

Automobile
5,024

 
3,874

 
8,985

 
7,511

Miscellaneous
245

 
138

 
384

 
257

Total personal lines
$
15,668

 
$
10,623

 
$
25,589

 
$
19,947

Reinsurance assumed
3,393

 
3,241

 
4,616

 
3,998

Total
$
159,027

 
$
117,099

 
$
269,753

 
$
224,223

(1) “Other liability” is business insurance covering bodily injury and property damage arising from general business operations, accidents on the insured’s premises and products manufactured or sold.
(2) “Fire and allied lines” includes fire, allied lines, commercial multiple peril and inland marine.
(3) “Fire and allied lines” includes fire, allied lines, homeowners and inland marine.






The following tables display our premiums earned, losses and loss settlement expenses and loss ratio by line of business for the three-month periods ended June 30, 2011 and 2010.

Three Months Ended June 30,
 
 
 
 
 
 
 
 
 
 
 
Unaudited
2011
 
2010
(In Thousands)
Premiums Earned
 
Losses and Loss Settlement Expenses Incurred
Loss
Ratio
 
 
Premiums Earned
 
Losses and Loss Settlement Expenses Incurred
Loss
Ratio
 
Commercial lines
 
 
 
 
 
 
 
 
 
 
 
Other liability
$
29,021

 
$
10,629

36.6
%
 
$
28,507

 
$
13,104

46.0

%
Fire and allied lines
44,270

 
67,009

151.4
 
 
24,460

 
19,482

79.6

 
Automobile
29,891

 
17,697

59.2
 
 
23,216

 
16,653

71.7

 
Workers’ compensation
13,457

 
11,668

86.7
 
 
11,628

 
7,505

64.5

 
Fidelity and surety
3,844

 
28

0.7
 
 
4,297

 
2,273

52.9

 
Miscellaneous
208

 
168

80.8
 
 
197

 
9

4.6

 
Total commercial lines
$
120,691

 
$
107,199

88.8
%
 
$
92,305

 
$
59,026

63.9

%
 

 

 
 
 
 
 
 
 
 
Personal lines

 

 
 
 
 
 
 
 
 
Fire and allied lines
$
9,789

 
$
17,310

176.8
%
 
$
6,108

 
$
5,758

94.3

%
Automobile
4,918

 
4,107

83.5
 
 
3,616

 
3,076

85.1

 
Miscellaneous
222

 
101

45.5
 
 
116

 
(49
)
(42.2
)
 
Total personal lines
$
14,929

 
$
21,518

144.1
%
 
$
9,840

 
$
8,785

89.3

%
Reinsurance assumed
3,389

 
1,407

41.5
%
 
3,251

 
442

13.6

%
Total
$
139,009

 
$
130,124

93.6
%
 
$
105,396

 
$
68,253

64.8

%











The following tables display our premiums earned, losses and loss settlement expenses and loss ratio by line of business for the six-month periods ended June 30, 2011 and 2010.
Six Months Ended June 30,
 
 
 
 
 
 
 
 
 
 
 
Unaudited
2011
 
2010
(In Thousands)
Premiums Earned
 
Losses and Loss Settlement Expenses Incurred
Loss
Ratio
 
 
Premiums Earned
 
Losses and Loss Settlement Expenses Incurred
Loss
Ratio
 
Commercial lines
 
 
 
 
 
 
 
 
 
 
 
Other liability
$
56,950

 
$
21,810

38.3
%
 
$
56,721

 
$
31,945

56.3

%
Fire and allied lines
68,168

 
86,677

127.2
 
 
48,844

 
39,281

80.4

 
Automobile
52,585

 
31,355

59.6
 
 
46,226

 
30,483

65.9

 
Workers’ compensation
25,095

 
21,559

85.9
 
 
22,846

 
11,783

51.6

 
Fidelity and surety
7,905

 
19

0.2
 
 
8,976

 
2,482

27.7

 
Miscellaneous
411

 
385

93.7
 
 
399

 
45

11.3

 
Total commercial lines
$
211,114

 
$
161,805

76.6
%
 
$
184,012

 
$
116,019

63.0

%
 

 

 
 
 
 
 
 
 
 
Personal lines

 

 
 
 
 
 
 
 
 
Fire and allied lines
$
16,036

 
$
19,509

121.7
%
 
$
12,087

 
$
7,825

64.7

%
Automobile
8,662

 
5,970

68.9
 
 
7,083

 
5,957

84.1

 
Miscellaneous
345

 
103

29.9
 
 
203

 
(76
)
(37.4
)
 
Total personal lines
$
25,043

 
$
25,582

102.2
%
 
$
19,373

 
$
13,706

70.7

%
Reinsurance assumed
4,616

 
14,402

312.0
%
 
3,990

 
2,156

54.0

%
Total
$
240,773

 
$
201,789

83.8
%
 
$
207,375

 
$
131,881

63.6

%