XML 46 R28.htm IDEA: XBRL DOCUMENT v3.10.0.1
SEGMENT INFORMATION (Tables)
6 Months Ended
Jun. 30, 2018
Segment Reporting [Abstract]  
Summarized financial information for segments
Three months ended June 30, 2018
 
Property and
casualty
insurance
 
Reinsurance
 
Parent
company
 
Consolidated
($ in thousands)
 
 
 
 
Premiums earned
 
$
121,495

 
$
36,451

 
$

 
$
157,946

 
 
 
 
 
 
 
 
 
Underwriting profit (loss):
 
 
 
 
 
 
 
 
SAP underwriting profit (loss)
 
(20,184
)
 
3,707

 

 
(16,477
)
GAAP adjustments
 
1,921

 
(855
)
 

 
1,066

GAAP underwriting profit (loss)
 
(18,263
)
 
2,852

 

 
(15,411
)
 
 
 
 
 
 
 
 
 
Net investment income
 
8,410

 
3,360

 
8

 
11,778

Net realized investment gains (losses) and, beginning in 2018, change in unrealized investment gains on equity investments
 
(4,692
)
 
(1,168
)
 

 
(5,860
)
Other income (loss)
 
2,095

 
678

 

 
2,773

Interest expense
 
171

 

 

 
171

Other expenses
 
244

 

 
587

 
831

Income (loss) before income tax expense (benefit)
 
$
(12,865
)
 
$
5,722

 
$
(579
)
 
$
(7,722
)

Three months ended June 30, 2017
 
Property and
casualty
insurance
 
Reinsurance
 
Parent
company
 
Consolidated
($ in thousands)
 
 
 
 
Premiums earned
 
$
116,187

 
$
33,650

 
$

 
$
149,837

 
 
 
 
 
 
 
 
 
Underwriting profit (loss):
 
 
 
 
 
 
 
 
SAP underwriting profit (loss)
 
(8,892
)
 
218

 

 
(8,674
)
GAAP adjustments
 
2,006

 
(805
)
 

 
1,201

GAAP underwriting profit (loss)
 
(6,886
)
 
(587
)
 

 
(7,473
)
 
 
 
 
 
 
 
 
 
Net investment income
 
7,958

 
3,201

 
12

 
11,171

Net realized investment gains (losses) and, beginning in 2018, change in unrealized investment gains on equity investments
 
3,738

 
(351
)
 

 
3,387

Other income (loss)
 
1,559

 
(528
)
 

 
1,031

Interest expense
 
85

 

 

 
85

Other expenses
 
231

 

 
571

 
802

Income (loss) before income tax expense (benefit)
 
$
6,053

 
$
1,735

 
$
(559
)
 
$
7,229

Six months ended June 30, 2018
 
Property and
casualty
insurance
 
Reinsurance
 
Parent
company
 
Consolidated
($ in thousands)
 
 
 
 
Premiums earned
 
$
240,127

 
$
73,605

 
$

 
$
313,732

 
 
 
 
 
 
 
 
 
Underwriting profit (loss):
 
 
 
 
 
 
 
 
SAP underwriting profit (loss)
 
(29,220
)
 
5,270

 

 
(23,950
)
GAAP adjustments
 
2,183

 
(753
)
 

 
1,430

GAAP underwriting profit (loss)
 
(27,037
)
 
4,517

 

 
(22,520
)
 
 
 
 
 
 
 
 
 
Net investment income
 
16,558

 
6,578

 
13

 
23,149

Net realized investment gains (losses) and, beginning in 2018, change in unrealized investment gains on equity investments
 
(7,985
)
 
(3,268
)
 

 
(11,253
)
Other income (loss)
 
4,146

 
242

 

 
4,388

Interest expense
 
313

 

 

 
313

Other expenses
 
477

 

 
1,224

 
1,701

Income (loss) before income tax expense (benefit)
 
$
(15,108
)
 
$
8,069

 
$
(1,211
)
 
$
(8,250
)
 
 
 
 
 
 
 
 
 
Assets
 
$
1,176,071

 
$
477,701

 
$
568,324

 
$
2,222,096

Eliminations
 

 

 
(562,043
)
 
(562,043
)
Reclassifications
 

 
(745
)
 

 
(745
)
Total assets
 
$
1,176,071

 
$
476,956

 
$
6,281

 
$
1,659,308

Six months ended June 30, 2017
 
Property and
casualty
insurance
 
Reinsurance
 
Parent
company
 
Consolidated
($ in thousands)
 
 
 
 
Premiums earned
 
$
229,835

 
$
64,489

 
$

 
$
294,324

 
 
 
 
 
 
 
 
 
Underwriting profit (loss):
 
 
 
 
 
 
 
 
SAP underwriting profit (loss)
 
(11,486
)
 
3,465

 

 
(8,021
)
GAAP adjustments
 
(281
)
 
(1,136
)
 

 
(1,417
)
GAAP underwriting profit (loss)
 
(11,767
)
 
2,329

 

 
(9,438
)
 
 
 
 
 
 
 
 
 
Net investment income
 
15,973

 
6,184

 
21

 
22,178

Net realized investment gains (losses) and, beginning in 2018, change in unrealized investment gains on equity investments
 
3,141

 
(381
)
 

 
2,760

Other income (loss)
 
3,000

 
(1,099
)
 

 
1,901

Interest expense
 
169

 

 

 
169

Other expenses
 
410

 

 
1,153

 
1,563

Income (loss) before income tax expense (benefit)
 
$
9,768

 
$
7,033

 
$
(1,132
)
 
$
15,669

 
 
 
 
 
 
 
 
 
Year ended December 31, 2017
 
 
 
 
 
 
 
 
Assets
 
$
1,200,636

 
$
484,678

 
$
604,105

 
$
2,289,419

Eliminations
 

 

 
(599,036
)
 
(599,036
)
Reclassifications
 
(1,393
)
 
(6,273
)
 
(777
)
 
(8,443
)
Total assets
 
$
1,199,243

 
$
478,405

 
$
4,292

 
$
1,681,940

Summary of net premiums earned by line of insurance
The following table displays the premiums earned for the property and casualty insurance segment and the reinsurance segment for the three and six months ended June 30, 2018 and 2017, by line of insurance.
 
 
Three months ended June 30,
 
Six months ended June 30,
($ in thousands)
 
2018
 
2017
 
2018
 
2017
Property and casualty insurance segment
 
 
 
 
 
 
 
 
Commercial lines:
 
 
 
 
 
 
 
 
Automobile
 
$
31,660

 
$
29,014

 
$
62,304

 
$
57,046

Property
 
27,196

 
26,069

 
53,788

 
51,571

Workers' compensation
 
25,229

 
25,343

 
50,131

 
50,046

Other liability
 
25,591

 
24,254

 
50,553

 
48,382

Other
 
2,228

 
2,197

 
4,414

 
4,306

Total commercial lines
 
111,904

 
106,877

 
221,190

 
211,351

 
 
 
 
 
 
 
 
 
Personal lines
 
9,591

 
9,310

 
18,937

 
18,484

Total property and casualty insurance
 
$
121,495

 
$
116,187

 
$
240,127

 
$
229,835

 
 
 
 
 
 
 
 
 
Reinsurance segment
 
 
 
 
 
 
 
 
Pro rata reinsurance
 
$
10,070

 
$
12,016

 
$
23,143

 
$
22,451

Excess of loss reinsurance
 
26,381

 
21,634

 
50,462

 
42,038

Total reinsurance
 
$
36,451

 
$
33,650

 
$
73,605

 
$
64,489

 
 
 
 
 
 
 
 
 
Consolidated
 
$
157,946

 
$
149,837

 
$
313,732

 
$
294,324