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Segments
 12 Months Ended
Dec. 31, 2017
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]  
Segments
SEGMENTS

The Company’s property and casualty insurance operations comprise one business segment. The property and casualty insurance segment primarily underwrites home insurance coverage with primary lines of business consisting of dwelling fire and extended coverage, homeowners (including mobile homeowners) and other liability. 

Management organizes the business utilizing a niche strategy focusing on lower valued dwellings and older homes that can be difficult to insure in the standard insurance market.  Our chief decision makers (Chief Executive Officer, Chief Financial Officer and President) review results and operating plans making decisions on resource allocations on a company-wide basis.  The Company’s products are primarily produced through independent agents within the states in which we operate.  

The Company’s life and accident and health operations comprise the second business segment.  The life and accident and health insurance segment consists of two lines of business: traditional life insurance and supplemental accident and health insurance.

Total assets by industry segment at December 31, 2017 and at December 31, 2016 are summarized below (dollars in thousands):

Assets by industry segment
 
Total
 
P&C Insurance Operations
 
Life Insurance Operations
 
Non-Insurance Operations
 
 
 
 
 
 
 
 
 
December 31, 2017
 
$
146,438

 
$
80,241

 
$
60,709

 
$
5,488

 
 


 
 
 
 
 
 
December 31, 2016
 
$
148,579

 
$
82,647

 
$
58,689

 
$
7,243

Premium revenues and operating income by business segment for the years ended December 31, 2017 and 2016 are summarized below (dollars in thousands):

Year ended December 31, 2017
Total
 
P&C Insurance Operations
 
Life Insurance Operations
 
Non-Insurance Operations
REVENUE
 
 
 
 
 
 
 
Net premiums earned
$
61,163

 
$
55,044

 
$
6,119

 
$
—

Net investment income
3,647

 
1,571

 
2,011

 
65

Net realized investment gains (losses)
234

 
163

 
71

 
—

Other income
596

 
593

 
3

 
—

 
65,640

 
57,371

 
8,204

 
65

BENEFITS AND EXPENSES
 

 
 

 
 

 
 

Policyholder benefits paid
42,869

 
37,824

 
5,045

 
—

Amortization of deferred policy acquisition costs
3,589

 
2,777

 
812

 
—

Commissions
7,723

 
7,380

 
343

 
—

General and administrative expenses
8,821

 
6,670

 
1,313

 
838

Taxes, licenses and fees
2,445

 
2,237

 
208

 
—

Interest expense
1,307

 
—

 
73

 
1,234

 
66,754

 
56,888

 
7,794

 
2,072

Income (Loss) Before Income Taxes
$
(1,114
)
 
$
483

 
$
410

 
$
(2,007
)




Year ended December 31, 2016
Total
 
P&C Insurance Operations
 
Life Insurance Operations
 
Non-Insurance Operations
REVENUE
 
 
 
 
 
 
 
Net premiums earned
$
61,398

 
$
55,164

 
$
6,234

 
$
—

Net investment income
3,892

 
1,706

 
2,122

 
64

Net realized investment gains
998

 
725

 
273

 
—

Other income
605

 
603

 
2

 
—

 
66,893

 
58,198

 
8,631

 
64

BENEFITS AND EXPENSES
 

 
 

 
 

 
 

Policyholder benefits paid
38,847

 
33,562

 
5,285

 
—

Amortization of deferred policy acquisition costs
3,506

 
2,783

 
723

 
—

Commissions
7,894

 
7,584

 
310

 
—

General and administrative expenses
8,996

 
6,818

 
1,509

 
669

Taxes, licenses and fees
2,204

 
2,005

 
199

 
—

Interest expense
1,352

 
—

 
78

 
1,274

 
62,799

 
52,752

 
8,104

 
1,943

Income (Loss) Before Income Taxes
$
4,094

 
$
5,446

 
$
527

 
$
(1,879
)


The following table presents the Company’s gross and net premiums written for the property and casualty segment and the life and accident and health segment for the years ended December 31, 2017 and 2016, respectively:
 
 
Year ended
December 31,
 
 
2017

2016
Life, accident and health operations premiums written:
 

 
 

Traditional life insurance
 
$
4,411

 
$
4,459

Accident and health insurance
 
1,828

 
1,851

Gross life, accident and health
 
6,239

 
6,310

Reinsurance premium ceded
 
(77
)
 
(69
)
Net life, accident and health premiums written
 
$
6,162

 
$
6,241

Property and Casualty operations premiums written:
 

 
 

Dwelling fire & extended coverage
 
$
37,034

 
$
35,783

Homeowners (Including mobile homeowners)
 
22,319

 
23,250

Other liability
 
2,145

 
2,081

Gross property and casualty
 
61,498

 
61,114

Reinsurance premium ceded
 
(6,272
)
 
(5,830
)
Net property and casualty written
 
$
55,226

 
$
55,284

Consolidated gross premiums written
 
$
67,737

 
$
67,424

Reinsurance premium ceded
 
(6,349
)
 
(5,899
)
Consolidated net premiums written
 
$
61,388

 
$
61,525



The following table presents the Company’s gross and net premiums earned for the property and casualty segment and the life and accident and health segment for the years ended December 31, 2017 and 2016, respectively:



Year ended
December 31,
 

2017

2016
Life, accident and health operations premiums earned:
 

 
Traditional life insurance

$
4,368

 
$
4,451

Accident and health insurance

1,828

 
1,852

Gross life, accident and health

6,196

 
6,303

Reinsurance premium ceded

(77
)
 
(69
)
Net life, accident and health premiums earned

$
6,119

 
$
6,234

Property and Casualty operations premiums earned:





Dwelling fire & extended coverage

$
36,373

 
$
35,367

Homeowners (Including mobile homeowners)

22,831

 
23,595

Other liability

2,112

 
2,032

Gross property and casualty

61,316

 
60,994

Reinsurance premium ceded

(6,272
)
 
(5,830
)
Net property and casualty earned

$
55,044

 
$
55,164

Consolidated gross premiums earned

$
67,512

 
$
67,297

Reinsurance premium ceded

(6,349
)
 
(5,899
)
Consolidated net premiums earned

$
61,163

 
$
61,398