Segment Information (Tables)

9 Months Ended

Sep. 30, 2014

Schedule Of Revenue From Continuing Operations By Segment



Revenue by Segment	Quarter ended September 30,			Nine Months ended September 30,
($ in thousands)	2014		2013	2014	2013
Standard Insurance Operations:
Net premiums earned:
Commercial automobile	$	83,536	79,138	249,224	230,191
Workers compensation	66,732		66,510	205,137	197,449
General liability	110,894		100,925	331,303	298,394
Commercial property	61,304		57,004	182,716	165,356
Businessowners’ policies	21,649		19,629	63,797	56,794
Bonds	4,791		4,705	14,281	14,244
Other	3,237		3,051	9,633	9,036
Total Standard Commercial Lines	352,143		330,962	1,056,091	971,464
Personal automobile	37,695		38,513	113,943	115,432
Homeowners	33,957		32,374	100,831	95,211
Other	2,725		3,827	8,965	10,655
Total Standard Personal Lines	74,377		74,714	223,739	221,298
Total Standard Insurance Operations net premiums earned	426,520		405,676	1,279,830	1,192,762
Miscellaneous income	3,196		3,342	14,923	9,590
Total Standard Insurance Operations revenue	429,716		409,018	1,294,753	1,202,352
E&S Insurance Operations:
Net premiums earned	36,119		31,892	102,929	91,998
Investments:
Net investment income	34,292		32,457	106,600	99,330
Net realized investment gains	15,231		13,431	26,988	21,940
Total investment revenues	49,523		45,888	133,588	121,270
Total all segments	515,358		486,798	1,531,270	1,415,620
Other income	—		15	8	87
Total revenues from continuing operations	$	515,358	486,813	1,531,278	1,415,707

Schedule of Income from Continuing Operations Before Federal Income Tax



Income from Continuing Operations before Federal Income Tax	Quarter ended September 30,				Nine Months ended September 30,
($ in thousands)	2014			2013	2014			2013
Standard Insurance Operations:
Commercial Lines underwriting gain	$	27,771		8,776	$	39,844		24,621
Personal Lines underwriting gain	8,037			1,362	95			4,360
Total Standard Insurance Operations underwriting gain, before federal income tax	35,808			10,138	39,939			28,981
GAAP combined ratio	91.6		%	97.5	96.9		%	97.6
Statutory combined ratio	90.5		%	96.0	96.3		%	96.6

E&S Insurance Operations:
Underwriting (loss) gain	(1,371		)	13	(433		)	(2,186	)
GAAP combined ratio	103.8		%	100.0	100.4		%	102.4
Statutory combined ratio	102.9		%	100.5	100.3		%	101.9

Investments:
Net investment income	34,292			32,457	106,600			99,330
Net realized investment gains	15,231			13,431	26,988			21,940
Total investment income, before federal income tax	49,523			45,888	133,588			121,270
Tax on investment income	13,858			12,648	36,374			31,960
Total investment income, after federal income tax	35,665			33,240	97,214			89,310

Schedule of Reconciliation of Segment Results to Income From Continuing Operations, Before Federal Income Tax



Reconciliation of Segment Results to Income from Continuing Operations, before Federal Income Tax	Quarter ended September 30,					Nine Months ended September 30,
($ in thousands)	2014			2013		2014			2013
Standard Insurance Operations underwriting gain, before federal income tax	$	35,808		10,138		$	39,939		28,981
E&S Insurance Operations underwriting (loss) gain, before federal income tax	(1,371		)	13		(433		)	(2,186	)
Investment income, before federal income tax	49,523			45,888		133,588			121,270
Total all segments	83,960			56,039		173,094			148,065
Interest expense	(5,558		)	(5,570	)	(16,544		)	(16,971	)
General corporate and other expenses	(3,076		)	(5,984	)	(16,619		)	(21,540	)
Income from continuing operations, before federal income tax	$	75,326		44,485		$	139,931		109,554

- 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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