Reportable Segments

3 Months Ended

Mar. 31, 2012

Reportable Segments [Abstract]

Reportable Segments

(4) 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.

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.

	2012						2011
	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 March 31:
Property and Casualty Insurance	$	75,226	$	47,909	$	6,933	$	72,104	$	45,518	$	1,452
Reinsurance		14,827		13,642		6,137		13,027		12,083		(22,748	)
Totals	$	90,053	$	61,551	$	13,070	$	85,131	$	57,601	$	(21,296	)

The following table reconciles reportable segment income (loss) to the Company's consolidated income (loss) before federal income taxes.

	Three Months Ended
	March 31
	2012			2011
Profit (Loss):
Segment profit (loss)	$	13,070		$	(21,296	)
Net investment income		2,422			2,653
Net realized gains (losses) on investments		5,381			(1,469	)
Corporate expenses		(3,874	)		(3,605	)
Income (loss) before federal income taxes	$	16,999		$	(23,717	)

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

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.