v3.19.3

Segment Information

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Segment Information

6 - Segment Information

We evaluate the performance of our personal lines and commercial lines segments based upon the underwriting results of our insurance subsidiaries using statutory accounting principles (“SAP”) that various state insurance departments prescribe or permit. Our management uses SAP to measure the performance of our insurance subsidiaries instead of United States generally accepted accounting principles (“GAAP”). SAP financial measures are considered non-GAAP financial measures under applicable SEC rules because they include or exclude certain items that the most comparable GAAP financial measures do not ordinarily include or exclude.

Financial data by segment for the three and nine months ended September 30, 2019 and 2018 is as follows:

		Three Months Ended September 30,
		2019				2018
		(in thousands)
Revenues:
Premiums earned:
Commercial lines		$	98,324			$	84,251
Personal lines			91,497				103,410
Premiums earned			189,821				187,661
Net investment income			7,390				6,620
Investment (losses) gains			(369	)			3,464
Equity in earnings of DFSC			—				733
Other			1,168				1,426
Total revenues		$	198,010			$	199,904
Income before income tax expense:
Underwriting income (loss):
Commercial lines		$	2,521			$	2,125
Personal lines			(3,312	)			(12,210	)
SAP underwriting loss			(791	)			(10,085	)
GAAP adjustments			(399	)			332
GAAP underwriting loss			(1,190	)			(9,753	)
Net investment income			7,390				6,620
Investment (losses) gains			(369	)			3,464
Equity in earnings of DFSC			—				733
Other			474				213
Income before income tax expense		$	6,305			$	1,277

		Nine Months Ended September 30,
		2019				2018
		(in thousands)
Revenues:
Premiums earned:
Commercial lines		$	284,593			$	251,029
Personal lines			282,065				304,111
Premiums earned			566,658				555,140
Net investment income			21,728				19,341
Investment gains			19,294				4,062
Equity in earnings of DFSC			295				2,153
Other			3,538				4,326
Total revenues		$	611,513			$	585,022
Income (loss) before income tax expense (benefit):
Underwriting income (loss):
Commercial lines		$	4,946			$	(17,935	)
Personal lines			(10,077	)			(42,358	)
SAP underwriting loss			(5,131	)			(60,293	)
GAAP adjustments			1,431				5,106
GAAP underwriting loss			(3,700	)			(55,187	)
Net investment income			21,728				19,341
Investment gains			19,294				4,062
Equity in earnings of DFSC			295				2,153
Other			1,070				1,040
Income (loss) before income tax expense (benefit)		$	38,687			$	(28,591	)

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- References

No definition available.

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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