Segment Information

12 Months Ended

Dec. 31, 2014

Segment Information [Abstract]

Segment Information

NOTE 13 - Segment Information

The Company conducts and manages its business through four segments. The three operating segments, representing the major lines of insurance business, are: property and casualty insurance, primarily personal lines automobile and homeowners products; retirement annuity products, primarily tax-qualified fixed and variable deposits; and life insurance. The Company does not allocate the impact of corporate-level transactions to the insurance segments, consistent with the basis for management’s evaluation of the results of those segments, but classifies those items in the fourth segment, corporate and other. In addition to ongoing transactions such as corporate debt service, realized investment gains and losses and certain public company expenses, such items also have included corporate debt retirement costs/gains, when applicable.

The accounting policies of the segments are the same as those described in “Note 1 — Summary of Significant Accounting Policies”. The Company accounts for intersegment transactions, primarily the allocation of operating and agency costs from the corporate and other segment to the property and casualty, annuity and life segments, on a direct cost basis.

Summarized financial information for these segments is as follows:

	Year Ended December 31,
		2014			2013			2012
Insurance premiums and contract charges earned
Property and casualty	$	581,828		$	561,954		$	546,339
Annuity		25,540			22,575			21,794
Life		108,392			106,409			102,394
Total	$	715,760		$	690,938		$	670,527
Net investment income
Property and casualty	$	36,790		$	36,208		$	36,792
Annuity		222,071			208,419			200,785
Life		71,865			69,932			69,409
Corporate and other		14			7			2
Intersegment eliminations		(925	)		(956	)		(985	)
Total	$	329,815		$	313,610		$	306,003
Net income (loss)
Property and casualty	$	46,907		$	44,433		$	37,043
Annuity		45,336			44,719			40,527
Life		17,503			20,339			21,912
Corporate and other		(5,503	)		1,402			4,384
Total	$	104,243		$	110,893		$	103,866

	December 31,
		2014			2013			2012
Assets
Property and casualty	$	1,107,962		$	1,001,561		$	1,016,368
Annuity		6,683,473			5,963,348			5,380,780
Life		1,858,150			1,743,084			1,663,696
Corporate and other		155,678			154,557			131,449
Intersegment eliminations		(36,736	)		(35,878	)		(24,567	)
Total	$	9,768,527		$	8,826,672		$	8,167,726

Additional significant financial information for these segments is as follows:

	Year Ended December 31,
		2014			2013		2012
Policy acquisition expenses amortized
Property and casualty	$	71,327		$	68,516	$	63,768
Annuity		14,781			7,957		6,868
Life		7,709			8,170		8,883
Total	$	93,817		$	84,643	$	79,519
Income tax expense (benefit)
Property and casualty	$	13,944		$	12,740	$	10,849
Annuity		21,319			18,531		19,046
Life		9,432			10,919		12,305
Corporate and other		(2,825	)		983		3,107
Total	$	41,870		$	43,173	$	45,307