Segment Information

12 Months Ended

Dec. 31, 2018

19—Segment Information

We have four reportable segments, which consist of our investment function, our personal lines of insurance, our commercial lines of insurance and our investment in DFSC. Using independent agents, our insurance subsidiaries market personal lines of insurance to individuals and commercial lines of insurance to small and medium-sized businesses.

We evaluate the performance of the personal lines and commercial lines primarily based upon our insurance subsidiaries’ underwriting results as determined under SAP for our total business.

We do not allocate assets to the personal and commercial lines and review the two segments in total for purposes of decision-making. We operate only in the United States, and no single customer or agent provides 10 percent or more of our revenues.

Financial data by segment is as follows:


	2018			2017		2016
	(in thousands)
Revenues:
Premiums earned:
Commercial lines	$	337,924		$	318,391	$	295,077
Personal lines		403,367			384,124		361,128

GAAP premiums earned		741,291			702,515		656,205
Net investment income		26,908			23,527		22,633
Investment (losses) gains		(4,802	)		5,705		2,526
Equity in earnings of DFSC		2,694			1,622		1,086
Other		5,737			5,658		5,973

Total revenues	$	771,828		$	739,027	$	688,423


	2018			2017			2016
	(in thousands)
(Loss) income before income taxes:
Underwriting (loss) income:
Commercial lines	$	(22,059	)	$	13,263		$	18,284
Personal lines		(53,590	)		(39,042	)		(10,745	)

SAP underwriting (loss) income		(75,649	)		(25,779	)		7,539
GAAP adjustments		894			4,408			4,642

GAAP underwriting (loss) income		(74,755	)		(21,371	)		12,181
Net investment income		26,908			23,527			22,633
Investment (losses) gains		(4,802	)		5,705			2,526
Equity in earnings of DFSC		2,694			1,622			1,086
Other		1,718			2,631			2,902

(Loss) income before income taxes	$	(48,237	)	$	12,114		$	41,328