Segment Information (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Revenue from Continuing Operations By Segment



Revenue by Segment
Years ended December 31,
($ in thousands)	2014		2013	2012
Standard Commercial Lines:
Net premiums earned:
Commercial automobile	$	333,310	310,994	288,010
Workers compensation	274,585		267,612	262,108
General liability	444,938		405,322	373,381
Commercial property	244,792		224,412	202,340
Businessowners’ policies	85,788		77,097	68,462
Bonds	19,288		19,000	18,891
Other	13,011		12,182	12,143
Miscellaneous income	14,747		10,253	7,003
Total Standard Commercial Lines revenue	1,430,459		1,326,872	1,232,338
Standard Personal Lines:
Net premiums earned:
Personal automobile	151,317		152,005	152,142
Homeowners	134,273		127,991	113,850
Other	11,157		14,336	13,563
Miscellaneous income	1,834		1,948	1,824
Total Standard Personal Lines revenue	298,581		296,280	281,379
E&S Lines:
Net premiums earned:
General liability	96,142		88,761	59,721
Commercial property	38,572		32,054	17,698
Commercial automobile	5,436		4,306	1,810
Miscellaneous income	17		—	—
Total E&S Lines revenue	140,167		125,121	79,229
Investments:
Net investment income	138,708		134,643	131,877
Net realized investment gains	26,599		20,732	8,988
Total investment revenues	165,307		155,375	140,865
Total all segments	2,034,514		1,903,648	1,733,811
Other income	347		93	291
Total revenues from continuing operations	$	2,034,861	1,903,741	1,734,102

Schedule of Income from Continuing Operations before Federal Income Tax



Income from Continuing Operations before Federal Income Tax
Years ended December 31,
($ in thousands)	2014			2013		2012
Standard Commercial Lines:
Underwriting gain (loss), before federal income tax	$	61,221		33,856		(40,935	)
GAAP combined ratio	95.7		%	97.4		103.3
Statutory combined ratio	95.5		%	97.1		103.0

Standard Personal Lines:
Underwriting gain (loss), before federal income tax	16,536			8,645		(3,514	)
GAAP combined ratio	94.4		%	97.1	%	101.3	%
Statutory combined ratio	94.5		%	96.9	%	100.7	%

E&S Lines:
Underwriting gain (loss), before federal income tax	386			(3,735	)	(19,558	)
GAAP combined ratio	99.7		%	103.0		124.7
Statutory combined ratio	99.2		%	102.9		118.8

Investments:
Net investment income	138,708			134,643		131,877
Net realized investment gains	26,599			20,732		8,988
Total investment income, before federal income tax	165,307			155,375		140,865
Tax on investment income	43,811			40,489		34,758
Total investment income, after federal income tax	$	121,496		114,886		106,107

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
Years ended December 31,
($ in thousands)	2014			2013		2012
Underwriting gain (loss), before federal income tax
Standard Commercial Lines	$	61,221		33,856		(40,935	)
Standard Personal Lines	16,536			8,645		(3,514	)
E&S Lines	386			(3,735	)	(19,558	)
Investment income, before federal income tax	165,307			155,375		140,865
Total all segments	243,450			194,141		76,858
Interest expense	(22,086		)	(22,538	)	(18,872	)
General corporate and other expenses	(24,233		)	(27,801	)	(20,351	)
Income from continuing operations, before federal income tax	$	197,131		143,802		37,635

- 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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