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 six 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, 2016.

We have reconciled the amounts in the following table for the three-month periods ended June 30, 2017 and 2016 to the amounts reported in our unaudited Consolidated Financial Statements, adjusting for intersegment eliminations.



	Property and Casualty Insurance			Life Insurance			Total
As of and for the Three Months Ended June 30, 2017
Net premiums earned	$	245,222		$	14,341		$	259,563
Investment income, net of investment expenses	12,208			12,426			24,634
Net realized investment gains	1,081			1,599			2,680
Other income	—			126			126
Total reportable segment	$	258,511		$	28,492		$	287,003
Intersegment eliminations	(24		)	—			(24		)
Total revenues	$	258,487		$	28,492		$	286,979
Net income	$	109		$	2,849		$	2,958
Assets	$	2,595,147		$	1,602,265		$	4,197,412
Invested assets	$	1,836,736		$	1,492,192		$	3,328,928

As of and for the Three Months Ended June 30, 2016
Net premiums earned	$	232,282		$	21,205		$	253,487
Investment income, net of investment expenses	11,655			12,889			24,544
Net realized investment gains	966			630			1,596
Other income	—			183			183
Total reportable segment	$	244,903		$	34,907		$	279,810
Intersegment eliminations	(37		)	—			(37		)
Total revenues	$	244,866		$	34,907		$	279,773
Net income (loss)	$	3,434		$	(320	)	$	3,114
Assets	$	2,459,526		$	1,646,312		$	4,105,838
Invested assets	$	1,723,641		$	1,547,765		$	3,271,406

We have reconciled the amounts in the following table for the six-month periods ended June 30, 2017 and 2016 to the amounts reported in our unaudited Consolidated Financial Statements, adjusting for intersegment eliminations.



	Property and Casualty Insurance			Life Insurance		Total
As of and for the Six Months Ended June 30, 2017
Net premiums earned	$	481,666		$	31,769	$	513,435
Investment income, net of investment expenses	24,813			24,876		49,689
Net realized investment gains	3,330			3,304		6,634
Other income	—			324		324
Total reportable segment	$	509,809		$	60,273	$	570,082
Intersegment eliminations	(44		)	—		(44		)
Total revenues	$	509,765		$	60,273	$	570,038
Net income	$	18,693		$	4,201	$	22,894
Assets	$	2,595,147		$	1,602,265	$	4,197,412
Invested assets	$	1,836,736		$	1,492,192	$	3,328,928

As of and for the Six Months Ended June 30, 2016
Net premiums earned	$	452,507		$	42,278	$	494,785
Investment income, net of investment expenses	21,064			25,741		46,805
Net realized investment gains	2,703			948		3,651
Other income	—			291		291
Total reportable segment	$	476,274		$	69,258	$	545,532
Intersegment eliminations	(74		)	—		(74		)
Total revenues	$	476,200		$	69,258	$	545,458
Net income	$	25,454		$	87	$	25,541
Assets	$	2,459,526		$	1,646,312	$	4,105,838
Invested assets	$	1,723,641		$	1,547,765	$	3,271,406