Segment Information

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

We have two reportable business segments in our operations: property and casualty insurance and life insurance. The property and casualty insurance segment has seven domestic locations from which it conducts its business. The life insurance segment operates from our home office. Because all of our insurance is sold domestically, we have no revenues from foreign operations.

We evaluate the two segments on the basis of both statutory accounting principles prescribed or permitted by our states of domicile and GAAP. We analyze results based on profitability (i.e., loss ratios), expenses, and return on equity. The basis we use to determine and analyze segments and to measure segment profit or loss have not changed from that reported in our Annual Report on Form 10-K for the year ended December 31, 2013.

We have reconciled the following table for the three-month periods ended June 30, 2014 and 2013 to the amounts reported in our unaudited Consolidated Financial Statements to adjust for intersegment eliminations.

	Property and Casualty Insurance		Life Insurance			Total
Three Months Ended June 30, 2014
Net premiums earned	$	187,832	$	14,127		$	201,959
Investment income, net of investment expenses	11,831		15,765			27,596
Net realized investment gains	2,337		371			2,708
Other income	314		221			535
Total reportable segment	$	202,314	$	30,484		$	232,798
Intersegment eliminations	7		(132		)	(125		)
Total revenues	$	202,321	$	30,352		$	232,673
Net income	$	9,540	$	1,145		$	10,685
Assets	$	2,100,863	$	1,751,047		$	3,851,910
Invested assets	$	1,519,110	$	1,625,988		$	3,145,098
Three Months Ended June 30, 2013
Net premiums earned	$	170,527	$	15,963		$	186,490
Investment income, net of investment expenses	12,279		16,731			29,010
Net realized investment gains	3,560		591			4,151
Other income	72		110			182
Total reportable segment	$	186,438	$	33,395		$	219,833
Intersegment eliminations	9		(123		)	(114		)
Total revenues	$	186,447	$	33,272		$	219,719
Net income	$	13,195	$	2,301		$	15,496
Assets	$	1,951,033	$	1,749,716		$	3,700,749
Invested assets	$	1,379,947	$	1,643,356		$	3,023,303

We have reconciled the following table for the six-month periods ended June 30, 2014 and 2013 to the amounts reported in our unaudited Consolidated Financial Statements to adjust for intersegment eliminations.

	Property and Casualty Insurance		Life Insurance			Total
Six Months Ended June 30, 2014
Net premiums earned	$	367,326	$	28,107		$	395,433
Investment income, net of investment expenses	22,944		31,364			54,308
Net realized investment gains	3,704		1,198			4,902
Other income	794		348			1,142
Total reportable segment	$	394,768	$	61,017		$	455,785
Intersegment eliminations	57		(265		)	(208		)
Total revenues	$	394,825	$	60,752		$	455,577
Net income	$	21,351	$	2,665		$	24,016
Assets	$	2,100,863	$	1,751,047		$	3,851,910
Invested assets	$	1,519,110	$	1,625,988		$	3,145,098
Six Months Ended June 30, 2013
Net premiums earned	$	333,228	$	30,202		$	363,430
Investment income, net of investment expenses	22,700		32,710			55,410
Net realized investment gains	4,589		1,471			6,060
Other income	84		213			297
Total reportable segment	$	360,601	$	64,596		$	425,197
Intersegment eliminations	73		(246		)	(173		)
Total revenues	$	360,674	$	64,350		$	425,024
Net income	$	33,924	$	3,965		$	37,889
Assets	$	1,951,033	$	1,749,716		$	3,700,749
Invested assets	$	1,379,947	$	1,643,356		$	3,023,303