The Company’s primary business operations include insurance products and services provided through three operating segments: Commercial Lines, Personal Lines and Other. Commercial Lines includes commercial multiple peril, commercial automobile, workers’ compensation, and other commercial coverages, such as inland marine, specialty program business, management and professional liability, surety and specialty property. Personal Lines includes personal automobile, homeowners and other personal coverages. Included in the Other segment are Opus Investment Management, Inc., which markets investment management services to institutions, pension funds and other organizations; earnings on holding company assets; holding company and other expenses, including certain costs associated with retirement benefits due to the Company’s former life insurance employees and agents; and, a run-off voluntary pools business. On December 28, 2018, the Company completed the sale of Chaucer, the major portion of its Lloyd’s international specialty business, to China Re. The sales of the Chaucer-related Irish and Australian entities were subsequently completed on February 14, 2019 and April 10, 2019, respectively. Accordingly, as of December 31, 2018, and for all prior periods, Chaucer’s results of operations have been classified as Discontinued Operations in the Consolidated Statements of Income and assets and liabilities related to the Chaucer business have been classified as held-for-sale in the Consolidated Balance Sheets (see Note 3 – “Discontinued Operations - Chaucer Business”). Certain ongoing expenses were also reclassified from Chaucer to the other three operating segments. The separate financial information is presented consistent with the way results are regularly evaluated by the chief operating decision maker in deciding how to allocate resources and in assessing performance.

The Company reports interest expense related to debt separately from the earnings of its operating segments. This consists of interest on the Company’s senior and subordinated debentures.

Management evaluates the results of the aforementioned segments based on operating income before taxes, excluding interest expense on debt. Operating income before taxes excludes certain items which are included in net income, such as net realized and unrealized investment gains and losses. Such gains and losses are excluded since they are determined by interest rates, financial markets and the timing of sales. Also, operating income before taxes excludes net gains and losses on disposals of businesses, gains and losses related to the repayment of debt, discontinued operations, costs to acquire businesses, restructuring costs, the cumulative effect of accounting changes and certain other items. Although the items excluded from operating income before taxes may be important components in understanding and assessing the Company’s overall financial performance, management believes that the presentation of operating income before taxes enhances an investor’s understanding of the Company’s results of operations by highlighting net income attributable to the core operations of the business. However, operating income before taxes should not be construed as a substitute for income before income taxes and operating income should not be construed as a substitute for net income.

Summarized below is financial information with respect to the Company’s business segments.

	Three Months Ended
	March 31,
(in millions)	2019			2018
Operating revenues:
Commercial Lines	$	698.7		$	676.6
Personal Lines		465.2			434.9
Other		7.4			2.9
Total		1,171.3			1,114.4
Net realized and unrealized investment gains (losses)		48.2			(22.9	)
Total revenues	$	1,219.5		$	1,091.5
Operating income (loss) before interest expense and income taxes:
Commercial Lines:
Underwriting income	$	36.7		$	16.3
Net investment income		44.3			45.3
Other expense		(0.8	)		(0.2	)
Commercial Lines operating income		80.2			61.4
Personal Lines:
Underwriting income		5.7			14.6
Net investment income		19.7			18.4
Other income		1.4			1.3
Personal Lines operating income		26.8			34.3
Other:
Underwriting loss		(0.3	)		(1.0	)
Net investment income		6.2			2.3
Other expense		(3.1	)		(3.7	)
Other operating income (loss)		2.8			(2.4	)
Operating income before interest expense and income taxes		109.8			93.3
Interest on debt		(9.4	)		(11.3	)
Operating income before income taxes		100.4			82.0
Non-operating income items:
Net realized and unrealized investment gains (losses)		48.2			(22.9	)
Income from continuing operations before income taxes	$	148.6		$	59.1

The following table provides identifiable assets for the Company’s business segments and discontinued operations:

The Company reviews the assets of its U.S. Companies collectively and does not allocate them between the Commercial Lines, Personal Lines and Other segments.