Segment Information

9 Months Ended

Sep. 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 amounts in the following table for the three-month periods ended September 30, 2014 and 2013 to the amounts reported in our unaudited Consolidated Financial Statements, adjusting for intersegment eliminations.

	Property and Casualty Insurance			Life Insurance			Total
Three Months Ended September 30, 2014
Net premiums earned	$	195,195		$	16,958		$	212,153
Investment income, net of investment expenses	8,191			14,647			22,838
Net realized investment gains (losses)	(22		)	916			894
Other income (loss)	(102		)	215			113
Total reportable segment	$	203,262		$	32,736		$	235,998
Intersegment eliminations	(1		)	(132		)	(133		)
Total revenues	$	203,261		$	32,604		$	235,865
Net income (loss)	$	(1,880	)	$	2,205		$	325
Assets	$	2,094,173		$	1,731,155		$	3,825,328
Invested assets	$	1,515,753		$	1,623,195		$	3,138,948
Three Months Ended September 30, 2013
Net premiums earned	$	178,553		$	15,789		$	194,342
Investment income, net of investment expenses	11,679			15,587			27,266
Net realized investment gains	816			374			1,190
Other income	145			192			337
Total reportable segment	$	191,193		$	31,942		$	223,135
Intersegment eliminations	12			(123		)	(111		)
Total revenues	$	191,205		$	31,819		$	223,024
Net income	$	10,282		$	1,443		$	11,725
Assets	$	1,977,120		$	1,746,577		$	3,723,697
Invested assets	$	1,401,982		$	1,635,695		$	3,037,677

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

	Property and Casualty Insurance		Life Insurance			Total
Nine Months Ended September 30, 2014
Net premiums earned	$	562,521	$	45,065		$	607,586
Investment income, net of investment expenses	31,135		46,011			77,146
Net realized investment gains	3,682		2,114			5,796
Other income	693		562			1,255
Total reportable segment	$	598,031	$	93,752		$	691,783
Intersegment eliminations	56		(397		)	(341		)
Total revenues	$	598,087	$	93,355		$	691,442
Net income	$	19,471	$	4,870		$	24,341
Assets	$	2,094,173	$	1,731,155		$	3,825,328
Invested assets	$	1,515,753	$	1,623,195		$	3,138,948
Nine Months Ended September 30, 2013
Net premiums earned	$	511,781	$	45,991		$	557,772
Investment income, net of investment expenses	34,379		48,297			82,676
Net realized investment gains	5,405		1,845			7,250
Other income	229		405			634
Total reportable segment	$	551,794	$	96,538		$	648,332
Intersegment eliminations	85		(369		)	(284		)
Total revenues	$	551,879	$	96,169		$	648,048
Net income	$	44,207	$	5,407		$	49,614
Assets	$	1,977,120	$	1,746,577		$	3,723,697
Invested assets	$	1,401,982	$	1,635,695		$	3,037,677