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Segments
 3 Months Ended
Mar. 31, 2018
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 March 31, 2018 and at December 31, 2017 are summarized below (dollars in thousands):

Assets by industry segment
 
Total
 
P&C Insurance Operations
 
Life Insurance Operations
 
Non-Insurance Operations
 
 
 
 
 
 
 
 
 
March 31, 2018
 
$
146,074

 
$
81,397

 
$
59,972

 
$
4,705

 
 


 
 
 
 
 
 
December 31, 2017
 
$
146,438

 
$
80,241

 
$
60,709

 
$
5,488

Premium revenues and operating income by business segment for the three months ended March 31, 2018 and 2017 are summarized below (dollars in thousands):

Three months ended March 31, 2018
Total
 
P&C Insurance Operations
 
Life Insurance Operations
 
Non-Insurance Operations
REVENUE
 
 
 
 
 
 
 
Net premiums earned
$
15,059

 
$
13,531

 
$
1,528

 
$
—

Net investment income
781

 
251

 
516

 
14

Net realized investment gains (losses)
(125
)
 
(174
)
 
49

 
—

Other income
161

 
160

 
1

 
—

 
15,876

 
13,768

 
2,094

 
14

BENEFITS AND EXPENSES
 

 
 

 
 

 
 

Policyholder benefits paid
9,427

 
7,978

 
1,449

 
—

Amortization of deferred policy acquisition costs
803

 
690

 
113

 
—

Commissions
2,060

 
2,012

 
48

 
—

General and administrative expenses
2,003

 
1,452

 
507

 
44

Taxes, licenses and fees
649

 
553

 
96

 
—

Interest expense
302

 
—

 
12

 
290

 
15,244

 
12,685

 
2,225

 
334

Income (Loss) Before Income Taxes
$
632

 
$
1,083

 
$
(131
)
 
$
(320
)




Three months ended March 31, 2017
Total
 
P&C Insurance Operations
 
Life Insurance Operations
 
Non-Insurance Operations
REVENUE
 
 
 
 
 
 
 
Net premiums earned
$
15,040

 
$
13,489

 
$
1,551

 
$
—

Net investment income
926

 
392

 
519

 
15

Net realized investment gains
160

 
—

 
160

 
—

Other income
152

 
150

 
2

 
—

 
16,278

 
14,031

 
2,232

 
15

BENEFITS AND EXPENSES
 

 
 

 
 

 
 

Policyholder benefits paid
11,146

 
9,918

 
1,228

 
—

Amortization of deferred policy acquisition costs
945

 
694

 
251

 
—

Commissions
2,093

 
2,024

 
69

 
—

General and administrative expenses
1,797

 
1,275

 
279

 
243

Taxes, licenses and fees
689

 
592

 
97

 
—

Interest expense
323

 
—

 
19

 
304

 
16,993

 
14,503

 
1,943

 
547

Income (Loss) Before Income Taxes
$
(715
)
 
$
(472
)
 
$
289

 
$
(532
)


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 three months ended March 31, 2018 and 2017, respectively:
 
 
Three months ended
March 31,
 
 
2018

2017
Life, accident and health operations premiums written:
 
 

Traditional life insurance
 
$
1,120

 
$
1,145

Accident and health insurance
 
415

 
423

Gross life, accident and health
 
1,535

 
1,568

Reinsurance premium ceded
 
(31
)
 
(29
)
Net life, accident and health premiums written
 
$
1,504

 
$
1,539

Property and Casualty operations premiums written:
 
 

Dwelling fire & extended coverage
 
$
9,553

 
$
9,431

Homeowners (Including mobile homeowners)
 
5,312

 
5,627

Other liability
 
565

 
543

Gross property and casualty
 
15,430

 
15,601

Reinsurance premium ceded
 
(1,154
)
 
(1,102
)
Net property and casualty written
 
$
14,276

 
$
14,499

Consolidated gross premiums written
 
$
16,965

 
$
17,169

Reinsurance premium ceded
 
(1,185
)
 
(1,131
)
Consolidated net premiums written
 
$
15,780

 
$
16,038



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 three months ended March 31, 2018 and 2017, respectively:



Three months ended
March 31,
 

2018

2017
Life, accident and health operations premiums earned:

 
Traditional life insurance

$
1,144

 
$
1,158

Accident and health insurance

415

 
422

Gross life, accident and health

1,559

 
1,580

Reinsurance premium ceded

(31
)
 
(29
)
Net life, accident and health premiums earned

$
1,528

 
$
1,551

Property and Casualty operations premiums earned:



Dwelling fire & extended coverage

$
9,116

 
$
8,816

Homeowners (Including mobile homeowners)

5,497

 
5,720

Other liability

530

 
513

Gross property and casualty

15,143

 
15,049

Reinsurance premium ceded

(1,612
)

(1,560
)
Net property and casualty earned

$
13,531


$
13,489

Consolidated gross premiums earned

$
16,702


$
16,629

Reinsurance premium ceded

(1,643
)

(1,589
)
Consolidated net premiums earned

$
15,059


$
15,040