v3.22.2
Segment Reporting (Tables)
6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Summarized Financial Information by Operating Group
Summarized financial information concerning the Company’s Operating Groups is shown in the following tables. The Corporate and Other non-reportable segment includes any expenses not allocated to the Operating Groups and corporate-related items, including related party and third-party interest expense. Intersegment revenue and expenses are eliminated through the Corporate and Other column. Service center expenses and other overhead are allocated to the Company’s Operating Groups based on either revenue or headcount as applicable to each expense.
For the Three Months Ended June 30, 2022
(in thousands)Middle MarketSpecialtyMainStreetMedicare Corporate and Other Total
Commissions and fees(1)
$131,532 $74,301 $29,430 $6,595 $(9,398)$232,460 
Net income (loss)
33,459 11,008 5,359 286 (33,519)16,593 
For the Three Months Ended June 30, 2021
(in thousands)Middle MarketSpecialtyMainStreetMedicare Corporate and Other Total
Commissions and fees(2)
$76,109 $30,105 $8,576 $5,152 $(236)$119,706 
Net income (loss)
(5,898)1,617 972 452 (17,584)(20,441)
For the Six Months Ended June 30, 2022
(in thousands)Middle MarketSpecialtyMainStreetMedicare Corporate and Other Total
Commissions and fees(1)
$302,935 $123,824 $38,707 $20,276 $(10,434)$475,308 
Net income (loss)
88,346 16,326 3,501 4,586 (51,327)61,432 

For the Six Months Ended June 30, 2021
(in thousands)Middle MarketSpecialtyMainStreetMedicare Corporate and Other Total
Commissions and fees(2)
$186,664 $55,187 $16,798 $14,604 $(719)$272,534 
Net income (loss)
35,981 3,504 2,323 2,769 (33,711)10,866 
__________
(1)    During the three and six months ended June 30, 2022, the Middle Market Operating Group recorded intercompany commissions and fees revenue from activity with the Specialty Operating Group of $0.4 million and $0.6 million, respectively; the Specialty Operating Group recorded intercompany commissions and fees revenue from activity with the MainStreet Operating Group and itself of $8.6 million and $8.8 million, respectively; the MainStreet Operating Group recorded intercompany commissions and fees revenue from activity with the Middle Market and Specialty Operating Groups of $0.1 million and $0.2 million, respectively; and the Medicare Operating Group recorded intercompany commissions and fees revenue from activity with itself of $0.3 million and $0.8 million, respectively. These intercompany commissions and fees are eliminated through Corporate and Other.
(2)    During the three and six months ended June 30, 2021, the Middle Market Operating Group recorded intercompany commissions and fees revenue from activity with the Specialty Operating Group of $0.1 million and $0.5 million, respectively; the MainStreet Operating Group recorded intercompany commissions and fees revenue from activity with the Middle Market Operating Group of less than $0.1 million and less than $0.1 million, respectively; and the Medicare Operating Group recorded intercompany commissions and fees revenue from activity with itself of less than $0.1 million and $0.2 million, respectively. These intercompany commissions and fees are eliminated through Corporate and Other.
(in thousands)Middle MarketSpecialtyMainStreetMedicare Corporate and Other Total
Total assets at June 30, 2022$2,230,111 $593,225 $464,205 $51,552 $71,552 $3,410,645 
Total assets at December 31, 20212,142,485 549,662 61,322 56,472 66,366 2,876,307