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.