Segment Information

12 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

Segment Information

NOTE 14 - 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 segment, primarily personal lines automobile and homeowners products; Retirement segment, primarily tax-qualified fixed and variable annuities; and Life segment life insurance. The Company does not allocate the impact of corporate-level transactions to these operating 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, Retirement and Life segments, on a direct cost basis.

Summarized financial information for these segments is as follows:

	Year Ended December 31,
	2016			2015			2014
Insurance premiums and contract charges earned
Property and Casualty	$	620,514		$	595,958		$	581,828
Retirement		24,937			25,378			25,540
Life		113,695			110,544			108,392
Total	$	759,146		$	731,880		$	715,760
Net investment income
Property and Casualty	$	38,998		$	33,461		$	36,790
Retirement		249,410			228,378			222,071
Life		73,567			71,614			71,865
Corporate and Other		66			38			14
Intersegment eliminations		(855	)		(891	)		(925	)
Total	$	361,186		$	332,600		$	329,815
Net income (loss)
Property and Casualty	$	25,644		$	40,043		$	46,907
Retirement		50,674			43,384			45,336
Life		16,559			14,982			17,503
Corporate and Other		(9,112	)		(4,927	)		(5,503	)
Total	$	83,765		$	93,482		$	104,243

	December 31,
	2016			2015			2014
Assets
Property and Casualty	$	1,110,958		$	1,098,415		$	1,107,962
Retirement		7,449,777			7,001,411			6,683,473
Life		1,912,771			1,862,719			1,858,150
Corporate and Other		140,104			131,635			155,497
Intersegment eliminations		(36,786	)		(37,208	)		(36,736	)
Total	$	10,576,824		$	10,056,972		$	9,768,346

Additional significant financial information for these segments is as follows:

	Year Ended December 31,
	2016			2015			2014
Policy acquisition expenses amortized
Property and Casualty	$	74,950		$	73,173		$	71,327
Retirement		14,635			18,155			14,781
Life		7,147			7,591			7,709
Total	$	96,732		$	98,919		$	93,817
Income tax expense (benefit)
Property and Casualty	$	4,627		$	11,274		$	13,944
Retirement		20,334			19,873			21,319
Life		9,775			7,951			9,432
Corporate and Other		(4,269	)		(3,128	)		(2,825	)
Total	$	30,467		$	35,970		$	41,870