Segment Information

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Segment Information

19 - Segment Information

We have three reportable segments, which consist of our investment function, our commercial lines of insurance and our

personal lines of insurance

. Using independent agents, our insurance subsidiaries market commercial lines of insurance to small and

medium-sized

businesses

and personal lines of insurance

ind

ividuals

We evaluate the performance of the

commercial

lines and

personal

lines primarily based upon our insurance subsidiaries’ underwriting results as determined under SAP for our total business.

We do not allocate assets to the commercial

and

personal

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:


	2019		2018			2017
	(in thousands)
Revenues:
Premiums earned:
Commercial lines	$	385,465	$	337,924		$	318,391
Personal lines		370,613		403,367			384,124

GAAP premiums earned		756,078		741,291			702,515
Net investment income		29,515		26,908			23,527
Investment gains (losses)		21,985		(4,802	)		5,705
Equity in earnings of DFSC		295		2,694			1,622
Other		4,578		5,737			5,658

Total revenues	$	812,451	$	771,828		$	739,027


	2019			2018			2017
	(in thousands)
Income (loss) before income taxes:
Underwriting income (loss):
Commercial lines	$	8,404		$	(22,059	)	$	13,263
Personal lines		(1,617	)		(53,590	)		(39,042	)

SAP underwriting income (loss)		6,787			(75,649	)		(25,779	)
GAAP adjustments		(3,079	)		894			4,408

GAAP underwriting inco m e (loss)		3,708			(74,755	)		(21,371	)
Net investment income		29,515			26,908			23,527
Investment gains (losses)		21,985			(4,802	)		5,705
Equity in earnings of DFSC		295			2,694			1,622
Other		1,578			1,718			2,631

Income (loss) before income taxes	$	57,081		$	(48,237	)	$	12,114