Segment Information (Tables)

6 Months Ended

Jun. 30, 2012

Revenue from Continuing Operations By Segment



Revenue by Segment	Quarter ended June 30,			Six Months ended June 30,
($ in thousands)	2012		2011	2012		2011
Insurance Operations:
Net premiums earned:
Commercial automobile	$	71,540	69,198	$	142,024	138,868
Workers compensation	66,661		63,855	132,472		126,381
General liability	92,632		85,672	182,775		168,238
Commercial property	50,377		47,877	99,748		96,070
Business owners’ policies	17,266		16,407	34,123		32,892
Bonds	4,700		4,725	9,363		9,492
Other	19,080		2,561	31,971		5,117
Total commercial lines	322,256		290,295	632,476		577,058
Personal automobile	37,897		37,189	75,353		74,151
Homeowners	28,808		25,060	56,766		49,615
Other	3,251		3,036	6,446		6,099
Total personal lines	69,956		65,285	138,565		129,865
Total net premiums earned	392,212		355,580	771,041		706,923
Miscellaneous income	2,438		2,388	5,895		5,158
Total Insurance Operations revenues	394,650		357,968	776,936		712,081
Investments:
Net investment income	34,006		39,345	66,634		82,818
Net realized investment gains	178		2,146	4,536		7,906
Total investment revenues	34,184		41,491	71,170		90,724
Total all segments	428,834		399,459	848,106		802,805
Other income	73		111	149		221
Total revenues	$	428,907	399,570	$	848,255	803,026

Income From Continuing Operations, Before Federal Income Tax



Income Before Federal Income Tax	Quarter ended June 30,					Six Months ended June 30,
($ in thousands)	2012			2011		2012			2011
Insurance Operations:
Commercial lines underwriting	$	(19,524	)	(23,446	)	$	(24,008	)	(29,638	)
Personal lines underwriting	(7,438		)	(10,556	)	(4,317		)	(17,062	)
Underwriting loss, before federal income tax	(26,962		)	(34,002	)	(28,325		)	(46,700	)
GAAP combined ratio	106.9		%	109.6	%	103.7		%	106.6	%
Statutory combined ratio	106.2		%	109.5	%	102.7		%	106.1	%
Investments:
Net investment income	$	34,006		39,345		$	66,634		82,818
Net realized investment gains	178			2,146		4,536			7,906
Total investment income, before federal income tax	34,184			41,491		71,170			90,724
Total all segments	7,222			7,489		42,845			44,024
Interest expense	(4,723		)	(4,559	)	(9,423		)	(9,116	)
General corporate and other expenses	(3,191		)	(3,029	)	(10,923		)	(8,849	)
(Loss) Income before federal income tax	$	(692	)	(99	)	$	22,499		26,059

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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