Segment Information

3 Months Ended

Mar. 31, 2016

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 in Cedar Rapids, Iowa. 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, 2015.

We have reconciled the amounts in the following table for the three-month periods ended March 31, 2016 and 2015 to the amounts reported in our unaudited Consolidated Financial Statements, adjusting for intersegment eliminations.

	Property and Casualty Insurance			Life Insurance			Total
Three Months Ended March 31, 2016
Net premiums earned	$	220,225		$	21,073		$	241,298
Investment income, net of investment expenses	9,409			12,852			22,261
Net realized investment gains	1,737			318			2,055
Other income	—			108			108
Total reportable segment	$	231,371		$	34,351		$	265,722
Intersegment eliminations	(37		)	—			(37		)
Total revenues	$	231,334		$	34,351		$	265,685
Net income	$	22,020		$	407		$	22,427
Assets	$	2,344,686		$	1,631,306		$	3,975,992
Invested assets	$	1,675,088		$	1,497,241		$	3,172,329
Three Months Ended March 31, 2015
Net premiums earned	$	200,137		$	13,228		$	213,365
Investment income, net of investment expenses	10,730			13,616			24,346
Net realized investment gains (losses)	(239		)	1,126			887
Other income	—			63			63
Total reportable segment	$	210,628		$	28,033		$	238,661
Intersegment eliminations	17			(194		)	(177		)
Total revenues	$	210,645		$	27,839		$	238,484
Net income	$	23,103		$	576		$	23,679
Assets	$	2,166,432		$	1,697,819		$	3,864,251
Invested assets	$	1,562,710		$	1,576,868		$	3,139,578