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Reportable Segments
 6 Months Ended
Jun. 30, 2016
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, workers' compensation coverage to small businesses and professional liability products on a selective basis.  In late 2015, the Company discontinued marketing private passenger automobile liability and physical damage coverages and all business for this product line will expire in 2016.

The Reinsurance segment currently accepts professional liability cessions from other insurance companies. From 1992 until July 1, 2014, the Reinsurance segment accepted property cessions from other insurance companies and retrocessions from reinsurance companies, principally reinsuring against catastrophes. Final exposure to property catastrophe losses expired on June 30, 2015.

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.


  
2016
  
2015
 
  
Direct and Assumed Premium Written
  
Net Premium Earned
  
Segment Profit (Loss)
  
Direct and Assumed Premium Written
  
Net Premium Earned
  
Segment Profit
 
                   
Three months ended June 30:
                  
                   
Property and Casualty Insurance
 
$
98,374
  
$
65,714
  
$
9,897
  
$
89,163
  
$
60,031
  
$
10,358
 
Reinsurance
  
1,672
   
3,012
   
(281
)
  
3,632
   
5,418
   
413
 
                         
Totals
 
$
100,046
  
$
68,726
  
$
9,616
  
$
92,795
  
$
65,449
  
$
10,771
 
                         
                         
Six months ended June 30:
                        
                         
Property and Casualty Insurance
 
$
191,462
  
$
129,142
  
$
23,641
  
$
179,676
  
$
119,315
  
$
16,682
 
Reinsurance
  
4,737
   
6,493
   
(826
)
  
10,099
   
12,580
   
1,013
 
                         
Totals
 
$
196,199
  
$
135,635
  
$
22,815
  
$
189,775
  
$
131,895
  
$
17,695
 
 
The following table reconciles reportable segment income to the Company's consolidated income before federal income taxes.


  
Three Months Ended
  
Six Months Ended
 
  
June 30
  
June 30
 
  
2016
  
2015
  
2016
  
2015
 
Profit:
            
Segment profit
 
$
9,616
  
$
10,771
  
$
22,815
  
$
17,695
 
Net investment income
  
3,549
   
2,898
   
6,988
   
5,713
 
Net realized gains (losses) on investments
  
280
   
(1,166
)
  
9,292
   
2,577
 
Corporate expenses and other
  
(4,530
)
  
(4,073
)
  
(8,742
)
  
(8,264
)
Income before federal income taxes
 
$
8,915
  
$
8,430
  
$
30,353
  
$
17,721
 


Segment profit includes both net premiums earned and fees and other income 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.