8-K/A

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K/A

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 24, 2006

THE MIDLAND COMPANY

(Exact name of registrant as specified in its charter)

Ohio	1-6026	31-0742526
(State or other jurisdiction of incorporation)	(Commission File No.)	(IRS Employer Identification No. )

7000 Midland Boulevard, Amelia, Ohio 45102-2607

(Address of principal executive offices) (Zip Code)

(513) 943-7100

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d.(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

The Registrant is re-filing with this Form 8-K/A revised versions of Exhibits 99.2 and 99.3 previously filed. The previously filed Exhibits 99.2 and 99.3, which are replaced and superseded in their entirety by the exhibits filed herewith, were revised to incorporate certain non-substantive and formatting changes along with a reclassification adjustment within presented segment information.

Item 9.01. Financial Statements and Exhibits.

(c) Exhibits

99.1 – Press Release dated October 24, 2006 (incorporated by reference to Form 8-K filed on October 24, 2006).

99.2 – Supplemental Financial Information dated October 24, 2006.

99.3 – Supplemental Financial Information by Segment dated October 24, 2006.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	THE MIDLAND COMPANY
Date: November 2, 2006	By:	/s/ W. Todd Gray
		W. Todd Gray
		Executive Vice President and Chief Financial Officer

EX-99.2

Exhibit 99.2

The Midland Company

Supplemental Financial Information

($ in millions except per share data)

	2005															2006
	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			YTD			1st Qtr			2nd Qtr			3rd Qtr			YTD
Direct & Assumed Written Premium:
Property-Casualty Premiums Mobile
Home and Related		77.8			88.0			90.8			74.9			331.5			81.0			90.5			88.0			259.5
All Other Specialty Lines		86.3			95.4			95.0			89.7			366.4			94.1			118.9			124.7			337.7
Total Property and Casualty		164.1			183.4			185.8			164.6			697.9			175.1			209.4			212.7			597.2
Revenues:
Insurance:
Premiums Earned		165.6			159.7			147.9			158.7			631.9			159.2			162.3			175.7			497.2
Net Investment Income		9.9			10.2			10.1			10.3			40.5			10.3			10.2			10.5			31.0
Net Realized Investment Gains		0.8			1.4			3.1			0.9			6.2			2.4			1.9			1.1			5.4
Other Insurance Income		3.3			3.1			3.2			3.0			12.6			3.2			3.3			3.3			9.8
Transportation		10.8			11.9			8.9			10.6			42.2			11.8			12.5			14.2			38.5
Total Revenues		190.4			186.3			173.2			183.5			733.4			186.9			190.2			204.8			581.9
Costs & Expenses:
Insurance:
Losses & Loss Adjustment Expenses		62.9			71.8			86.7			65.3			286.7			60.9			91.9			81.9			234.7
Commissions & Other Policy Acquisition Costs		57.7			44.3			45.5			51.1			198.6			54.2			43.7			56.4			154.3
Operating & Administrative Expenses		27.4			28.6			27.3			29.0			112.3			28.8			29.5			30.2			88.5
Transportation Operating Expenses		10.1			10.4			8.0			8.4			36.9			9.5			11.0			11.9			32.4
Interest Expense		1.5			1.6			1.8			1.1			6.0			1.4			1.4			1.3			4.1
Total Costs and Expenses		159.6			156.7			169.3			154.9			640.5			154.8			177.5			181.7			514.0
INCOME BEFORE FIT		30.8			29.6			3.9			28.6			92.9			32.1			12.7			23.1			67.9
Pretax Margin		16.18	%		15.89	%		2.25	%		15.59	%		12.67	%		17.17	%		6.68	%		11.28	%		11.67	%
Provision for Federal Income Taxes (Credit)		9.6			9.1			0.2			8.6			27.5			9.7			2.9			5.7			18.3
NET INCOME		21.2			20.5			3.7			20.0			65.4			22.4			9.8			17.4			49.6
NET INCOME BEFORE REALIZED CAPITAL GAINS *		20.7			19.6			1.7			19.4			61.4			20.8			8.5			16.7			46.0
Per Share (Post Split) Amounts
EPS (Diluted)	$	1.08		$	1.05		$	0.19		$	1.03			3.37		$	1.15		$	0.50		$	0.88			2.53
Realized Capital Gains (Losses) Per Share		0.02			0.05			0.10			0.03			0.21			0.08			0.06			0.03			0.18
EPS Before Realized Capital Gains (Diluted) *	$	1.06		$	1.00		$	0.09		$	1.00		$	3.16		$	1.07		$	0.44		$	0.85		$	2.35
Diluted Average Shares Outstanding (thousands)		19,508			19,565			19,401			19,446			19,407			19,511			19,585			19,644			19,585
Total Shares Outstanding (thousands)		18,862			18,908			18,943			18,964			18,964			19,040			19,089			19,147			19,147
Dividends Per Common Share	$	0.0563		$	0.0563		$	0.0563		$	0.0563		$	0.2250		$	0.0613		$	0.0613		$	0.0613		$	0.1838
Other Relevant Financial Information
Property and Casualty Operations
P&C Combined Ratio
GAAP Combined Ratio		88.6	%		89.9	%		106.6	%		91.2	%		93.8	%		88.8	%		100.1	%		95.1	%		94.7	%
Less: Impact of Net CAT Losses on P&C Loss Ratio		-2.0	%		-2.8	%		-18.5	%		-7.5	%		-7.4	%		-2.9	%		-12.2	%		-2.5	%		-5.8	%
GAAP Combined Ratio Excluding CAT Losses		86.6	%		87.1	%		88.1	%		83.7	%		86.4	%		85.9	%		87.9	%		92.6	%		88.9	%
Consolidated (P&C & Life) Insurance Operations
Various Requested Ratios
Losses / Earned Premiums		38.0	%		45.0	%		58.6	%		41.1	%		45.4	%		38.3	%		56.6	%		46.61	%		47.2	%
Insurance Operating Expenses / Earned Premiums		16.5	%		17.9	%		18.5	%		18.3	%		17.8	%		18.1	%		18.2	%		17.19	%		17.8	%
Commissions / Earned Premiums		34.8	%		27.7	%		30.8	%		32.2	%		31.4	%		34.0	%		26.9	%		32.10	%		31.0	%
Losses & Commissions / Earned Premiums		72.8	%		72.7	%		89.4	%		73.3	%		76.8	%		72.3	%		83.5	%		78.71	%		78.2	%
Consolidated Midland Operations
Various Requested Ratios
Cash & Invested Assets		947.0			975.7			971.0			950.5			950.5			944.0			944.3			1,005.5
Average Invested Assets		962.5			976.9			974.5			964.3			964.3			947.3			947.4			978.0
Consolidated MLAN Investment Portfolio Composition
Fixed Income Securities		750.7			787.2			779.1			751.7			751.7			740.3			736.1			787.0
Total Equity Securities		189.8			183.7			187.0			195.4			195.4			199.5			201.8			213.0
Fixed Income Securities as a % of Investment Portfolio		79.8	%		81.1	%		80.6	%		79.4	%		79.4	%		78.8	%		78.5	%		78.7	%
Total Equity Securities as a % of Investment Portfolio		20.2	%		18.9	%		19.4	%		20.6	%		20.6	%		21.2	%		21.5	%		21.3	%
Net Book Value Per Share (post split)
Total Shareholders’ Equity		440.9			468.4			465.2			484.4			484.4			506.7			510.4			545.7
Total Net Book Value Per Share	$	23.31		$	24.77		$	24.56		$	25.54		$	25.54		$	26.61		$	26.74		$	28.50
Less (Add): Net U/R Gain on Fixed Income Portfolio		0.38			0.74			0.37			0.28			0.28			0.03			(0.28	)		0.26
Book Value Per Share (Net of FAS 115)	$	22.93		$	24.03		$	24.19		$	25.26		$	25.26		$	26.58		$	27.02		$	28.24
Less (Add): Net U/R Gain on Equity Income Portfolio		2.83			2.86			2.84			2.96			2.96			3.10			3.04			3.37
Book Value Per Share (Net of Unrealized Gain on Mrkt Sec)	$	20.10		$	21.17		$	21.35		$	22.30		$	22.30		$	23.48		$	23.98		$	24.87

* Net income before realized capital gains is a non-GAAP measure. Items excluded from this measure are significant components in understanding and assessing financial performance.

The company believes that this non-GAAP financial measure provides a clearer picture of the underlying operating activities than the GAAP measure of net income, as it removes potential issues such as timing of investment gains (or losses) and allows readers to individually assess these components of net income.

EX-99.3

Exhibit 99.3

The Midland Company

Supplemental Financial Information by Segment

Financial Highlights

(all amounts in 000’s except per share data)

	Nine Months Ended Sept. 30									Three Months Ended Sept. 30
	2006			2005			%			2006			2005			%
Income Statement Data
Insurance Revenue	$	543,443		$	518,393			4.8	%	$	190,578		$	164,384			15.9	%
Transportation Revenue		38,475			31,554			21.9	%		14,235			8,859			60.7	%
Total Revenue	$	581,918		$	549,947			5.8	%	$	204,813		$	173,243			18.2	%
Net Income	$	49,585		$	45,325					$	17,345		$	3,732
Balance Sheet Data
Cash & Invested Assets	$	1,005,520		$	971,040			3.6	%
Total Assets	$	1,516,990		$	1,530,838			-0.9	%
Total Debt	$	98,482		$	105,477			-6.6	%
Shareholders’ Equity	$	545,677		$	465,189			17.3	%
Common Shares Outstanding		19,147			18,943
Per Share Data
Net Income (Diluted)	$	2.53		$	2.34					$	0.88		$	0.19
Dividends Declared	$	0.18375		$	0.16875			8.9	%	$	0.06125		$	0.05625			8.9	%
Market Value	$	43.32		$	36.03			20.2	%
Book Value	$	28.50		$	24.56			16.0	%
AMIG’s Property and Casualty Operations
Direct and Assumed Written Premiums	$	597,172		$	533,294			12.0	%	$	212,707		$	185,778			14.5	%
Net Written Premium	$	522,079		$	483,419			8.0	%	$	185,828		$	159,602			16.4	%
Combined Ratio Before Catastrophes		88.9	%		87.3	%					92.6	%		88.1	%
Catastrophe Effects on Combined Ratio		5.8	%		7.4	%					2.5	%		18.5	%
Combined Ratio		94.7	%		94.7	%					95.1	%		106.6	%
Overview of Premium Volume
	Nine Months Ended Sept. 30, 2006									Nine Months Ended Sept. 30, 2005
Business Segment	Gross Written Premium			Net Written Premium			Net Earned Premium			Gross Written Premium			Net Written Premium			Net Earned Premium
Residential Property	$	348.9		$	314.3		$	291.4		$	324.6		$	294.6		$	285.1
Recreational Casualty		78.3			77.1			72.1			83.6			81.5			78.1
Financial Institutions		90.1			83.0			74.4			53.7			48.8			57.2
All Other Insurance		113.5			58.0			59.3			99.0			64.9			52.8
Total	$	630.8		$	532.4		$	497.2		$	560.9		$	489.8		$	473.2
	Three Months Ended Sept. 30, 2006									Three Months Ended Sept. 30, 2005
Business Segment	Gross Written Premium			Net Written Premium			Net Earned Premium			Gross Written Premium			Net Written Premium			Net Earned Premium
Residential Property	$	119.4		$	106.3		$	99.4		$	115.0		$	97.4		$	87.7
Recreational Casualty		24.0			23.6			23.7			25.5			24.0			24.5
Financial Institutions		41.9			40.1			30.5			21.0			18.9			18.8
All Other Insurance		41.7			21.3			22.1			34.4			21.8			16.9
Total	$	227.0		$	191.3		$	175.7		$	195.9		$	162.1		$	147.9
Residential Property
(all amounts in 000’s)
	Nine Months Ended Sept. 30									Three Months Ended Sept. 30
	2006			2005			%			2006			2005			%
Direct and Assumed Written Premiums	$	348,926		$	324,603			7.5	%	$	119,432		$	114,953			3.9	%
Net Written Premiums	$	314,236		$	294,633			6.7	%	$	106,265		$	97,391			9.1	%
Net Earned Premium	$	291,375		$	285,112			2.2	%	$	99,374		$	87,745			13.3	%
Service Fees		4,624			4,324			6.9	%		1,535			1,457			5.4	%
Total Revenues	$	295,999		$	289,436			2.3	%	$	100,909		$	89,202			13.1	%
Pre-Tax Income (Loss)	$	28,585		$	28,907					$	15,280		$	(4,005	)
Recreational Casualty
(all amounts in 000’s)
	Nine Months Ended Sept. 30									Three Months Ended Sept. 30
	2006			2005			%			2006			2005			%
Direct and Assumed Written Premiums	$	78,271		$	83,592			-6.4	%	$	23,997		$	25,498			-5.9	%
Net Written Premiums	$	77,115		$	81,523			-5.4	%	$	23,598		$	23,998			-1.7	%
Net Earned Premium	$	72,165		$	78,134			-7.6	%	$	23,824		$	24,522			-2.8	%
Service Fees		1,322			1,816			-27.2	%		439			612			-28.3	%
Total Revenues	$	73,487		$	79,950			-8.1	%	$	24,263		$	25,134			-3.5	%
Pre-Tax Income (Loss)	$	6,682		$	7,736					$	(1,178	)	$	(2,509	)
Financial Institutions
(all amounts in 000’s)
	Nine Months Ended Sept. 30									Three Months Ended Sept. 30
	2006			2005			%			2006			2005			%
Direct and Assumed Written Premiums	$	90,063		$	53,640			67.9	%	$	41,903		$	20,981			99.7	%
Net Written Premiums	$	82,966		$	48,781			70.1	%	$	40,145		$	18,857			112.9	%
Net Earned Premium	$	74,392		$	57,184			30.1	%	$	30,471		$	18,770			62.3	%
Pre-Tax Income (Loss)	$	9,395		$	7,850					$	4,213		$	3,291
All Other Insurance
(all amounts in 000’s)
	Nine Months Ended Sept. 30									Three Months Ended Sept. 30
	2006			2005			%			2006			2005			%
Direct and Assumed Written Premiums	$	113,588		$	99,032			14.7	%	$	41,752		$	34,471			21.1	%
Net Written Premiums	$	58,061		$	64,845			-10.5	%	$	21,269		$	21,788			-2.4	%
Net Earned Premium	$	59,299		$	52,799			12.3	%	$	22,060		$	16,910			30.5	%
Agency Revenues		3,791			2,706			40.1	%		1,305			1,057			23.5	%
Service Fees		5			63			-92.1	%		2			21			-90.5	%
Total Revenues	$	63,095		$	55,568			13.5	%	$	23,367		$	17,988			29.9	%
Pre-Tax Income (Loss)	$	17,675		$	17,531					$	3,126		$	5,422