Segment Information (Tables)

3 Months Ended

Mar. 31, 2013

Revenue from Continuing Operations By Segment



Revenue by Segment	Quarter ended March 31,
($ in thousands)	2013		2012
Standard Insurance Operations:
Net premiums earned:
Commercial automobile	$	74,347	70,484
Workers compensation	66,084		65,811
General liability	97,703		90,143
Commercial property	53,415		49,371
Businessowners’ policies	18,540		16,857
Bonds	4,764		4,663
Other	2,992		3,168
Total standard Commercial Lines	317,845		300,497
Personal automobile	38,393		37,456
Homeowners	31,135		27,958
Other	3,508		3,195
Total standard Personal Lines	73,036		68,609
Total Standard Insurance Operations net premiums earned	390,881		369,106
Miscellaneous income	2,720		3,457
Total Standard Insurance Operations revenue	393,601		372,563
E&S Insurance Operations:
Net premiums earned	30,059		9,723
Investments:
Net investment income	32,870		32,628
Net realized investment gains	3,355		4,358
Total investment revenues	36,225		36,986
Total all segments	459,885		419,272
Other income	64		76
Total revenues from continuing operations	$	459,949	419,348

Income From Continuing Operations, Before Federal Income Tax



Income from Continuing Operations before Federal Income Tax	Quarter ended March 31,
($ in thousands)	2013			2012
Standard Insurance Operations:
Commercial Lines underwriting gain	$	6,102		409
Personal Lines underwriting gain	5,973			3,121
Total Standard Insurance Operations underwriting gain, before federal income tax	12,075			3,530
GAAP combined ratio	96.9		%	99.0
Statutory combined ratio	96.8		%	98.0

E&S Insurance Operations:
Underwriting gain (loss)	86			(4,893	)
GAAP combined ratio	99.7		%	150.3
Statutory combined ratio	98.2		%	120.3

Investments:
Net investment income	32,870			32,628
Net realized investment gains	3,355			4,358
Total investment income, before federal income tax	36,225			36,986

Total all segments	48,386			35,623
Interest expense	(5,831		)	(4,700	)
General corporate and other expenses	(13,687		)	(7,732	)
Income from continuing operations before federal income tax	$	28,868		23,191

- 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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