Reportable Segments

6 Months Ended

Jun. 30, 2011

Loans to Employees [Abstract]

Reportable Segments

(5) Reportable Segments:

The Company has two reportable business segments in its operations:  Property and Casualty Insurance and Reinsurance.

The Property and Casualty Insurance segment provides multiple line insurance coverage primarily to fleet transportation companies as well as to independent contractors who contract with fleet transportation companies.  In addition, the Company provides private passenger automobile products to individuals, and commercial multi-peril and professional liability products on a limited basis.

Notes to Condensed Unaudited Consolidated Financial Statements (continued)

The Reinsurance segment accepts property and casualty cessions from other insurance companies as well as retrocessions from selected reinsurance companies, principally reinsuring against catastrophes.  In addition, the Reinsurance segment accepts selected professional liability cessions from other insurance companies.

The following table provides certain revenue and profit and loss information for each reportable segment.  All amounts presented are computed based upon U.S. Generally Accepted Accounting Principles.  Segment profit for Property and Casualty Insurance includes the direct marketing agency operations conducted by the parent company for this segment and is computed after elimination of inter-company commissions.

	2011							2010
	Direct and Assumed Premium Written		Net Premium Earned		Segment Profit (Loss)			Direct and Assumed Premium Written		Net Premium Earned		Segment Profit (Loss)
Three months ended June 30:
Property and Casualty Insurance	$	67,309	$	47,352	$	6,147		$	61,153	$	44,231	$	6,715
Reinsurance		15,722		14,992		(12,470	)		9,580		9,292		2,440
Totals	$	83,031	$	62,344	$	(6,323	)	$	70,733	$	53,523	$	9,155
Six months ended June 30:
Property and Casualty Insurance	$	139,413	$	92,870	$	7,600		$	126,763	$	85,308	$	13,838
Reinsurance		28,749		27,075		(35,219	)		21,388		19,381		(7,612	)
Totals	$	168,162	$	119,945	$	(27,619	)	$	148,151	$	104,689	$	6,226

The following table reconciles reportable segment loss to the Company's consolidated loss before federal income benefits, respectively.

	Three Months Ended						Six Months Ended
	June 30						June 30
	2011			2010			2011			2010
Profit (Loss):
Segment profit (loss)	$	(6,323	)	$	9,155		$	(27,619	)	$	6,226
Net investment income		2,644			2,944			5,297			5,968
Net gains (losses) on investments		(1,963	)		(2,858	)		(3,432	)		332
Corporate expenses		(3,050	)		(2,638	)		(6,655	)		(6,172	)
Income (loss) before federal income taxes	$	(8,692	)	$	6,603		$	(32,409	)	$	6,354

Segment profit (loss) includes both net premiums earned and fees and other income (loss) associated with the business conducted by the segment.

Notes to Condensed Unaudited Consolidated Financial Statements (continued)

Management does not identify or allocate assets to reportable segments when evaluating segment performance and depreciation expense is not material for any of the reportable segments.