Business Combinations (Tables)

12 Months Ended

Dec. 31, 2012

Assets and Liabilities Purchased in the MUSIC Transaction



($ in thousands)
ASSETS:			LIABILITIES:
Investments	$	48,437	Reserve for losses and loss expenses	$	58,836
Cash	3,436		Unearned premium	28,520
Interest and dividends due or accrued	54		Accrued salaries and benefits	43
Premiums receivable	7,073		Other liabilities	6,742
Reinsurance recoverables, net	43,978		Total Liabilities	$	94,141
Prepaid reinsurance premiums	28,520
Property, plant and equipment	219
Deferred federal income taxes¹	5,613
Other assets	8,133
Total Assets	$	145,463

¹In our original purchase price allocation, we recorded a net operating loss deferred tax asset of $4.8 million, which was valued based on preliminary information that was available at December 31, 2011, the time of closing. In September 2012, final information became available and this deferred tax asset was re-valued at $4.2 million, a decrease of $0.6 million. The Consolidated Balance Sheet as of December 31, 2011, as well as this schedule, has been restated to reflect this purchase price adjustment with a corresponding increase to the re-valued covenant not to compete included in other assets.