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Segment Information | 9 Months Ended
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Sep. 30, 2014
Segment Information |
13. | Segment Information
The following are tabulations of business segment information for the quarters and nine months ended September 30, 2014 and 2013.
Quarter Ended September 30, 2014: (Dollars in thousands) |  | Insurance Operations (1) |  |  | Reinsurance Operations (2) |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Gross premiums written |  | $ | 56,489 |  |  | $ | 10,609 |  |  | $ | 67,098 |
Net premiums written |  | $ | 52,674 |  |  | $ | 10,588 |  |  | $ | 63,262 |
Net premiums earned |  | $ | 52,462 |  |  | $ | 15,566 |  |  | $ | 68,028 |
Other income (loss) |  |  | 164 |  |  |  | (38 | ) |  |  | 126 |
Total revenues |  |  | 52,626 |  |  |  | 15,528 |  |  |  | 68,154 |
Losses and Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Net losses and loss adjustment expenses |  |  | 29,575 |  |  |  | 7,079 |  |  |  | 36,654 |
Acquisition costs and other underwriting expenses |  |  | 21,790 | (3) |  |  | 5,668 |  |  |  | 27,458 |
Income from segments |  | $ | 1,261 |  |  | $ | 2,781 |  |  |  | 4,042 |
Unallocated Items: |  |  |  |  |  |  |  |  |  |  |  |
Net investment income |  |  |  |  |  |  |  |  |  |  | 6,527 |
Net realized investment gains |  |  |  |  |  |  |  |  |  |  | 1,158 |
Corporate and other operating expenses |  |  |  |  |  |  |  |  |  |  | (3,481 | )
Interest expense |  |  |  |  |  |  |  |  |  |  | (118 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  | 8,128 |
Income tax benefit |  |  |  |  |  |  |  |  |  |  | 1,633 |
Net income |  |  |  |  |  |  |  |  |  | $ | 9,761 |
Total assets |  | $ | 1,229,463 |  |  | $ | 650,352 | (4) |  | $ | 1,879,815 |
(1) | Includes business ceded to the Company’s Reinsurance Operations.
(2) | External business only, excluding business assumed from affiliates.
(3) | Includes federal excise tax of $277 relating to cessions from Insurance Operations to Reinsurance Operations.
(4) | Comprised of Global Indemnity Reinsurance’s total assets less its investment in subsidiaries.
Quarter Ended September 30, 2013: (Dollars in thousands) |  | Insurance Operations (1) |  |  | Reinsurance Operations (2) |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Gross premiums written |  | $ | 59,747 |  |  | $ | 9,038 |  |  |  | 68,785 |
Net premiums written |  | $ | 54,995 |  |  | $ | 9,035 |  |  | $ | 64,030 |
Net premiums earned |  | $ | 50,655 |  |  | $ | 13,814 |  |  | $ | 64,469 |
Other income |  |  | 165 |  |  |  | 18 |  |  |  | 183 |
Total revenues |  |  | 50,820 |  |  |  | 13,832 |  |  |  | 64,652 |
Losses and Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Net losses and loss adjustment expenses |  |  | 30,230 |  |  |  | 5,253 |  |  |  | 35,483 |
Acquisition costs and other underwriting expenses |  |  | 23,124 | (3) |  |  | 4,904 |  |  |  | 28,028 |
Income (loss) from segments |  | $ | (2,534 | ) |  | $ | 3,675 |  |  |  | 1,141 |
Unallocated Items: |  |  |  |  |  |  |  |  |  |  |  |
Net investment income |  |  |  |  |  |  |  |  |  |  | 8,486 |
Net realized investment gains |  |  |  |  |  |  |  |  |  |  | 1,641 |
Corporate and other operating expenses |  |  |  |  |  |  |  |  |  |  | (2,627 | )
Interest expense |  |  |  |  |  |  |  |  |  |  | (3,585 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  | 5,056 |
Income tax benefit |  |  |  |  |  |  |  |  |  |  | 1,892 |
Net income |  |  |  |  |  |  |  |  |  | $ | 6,948 |
Total assets |  | $ | 1,262,325 |  |  | $ | 656,105 | (4) |  | $ | 1,918,430 |
(1) | Includes business ceded to the Company’s Reinsurance Operations.
(2) | External business only, excluding business assumed from affiliates.
(3) | Includes federal excise tax of $264 relating to cessions from Insurance Operations to Reinsurance Operations.
(4) | Comprised of Global Indemnity Reinsurance’s total assets less its investment in subsidiaries.
Nine Months Ended September 30, 2014: (Dollars in thousands) |  | Insurance Operations (1) |  |  | Reinsurance Operations (2) |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Gross premiums written |  | $ | 170,037 |  |  | $ | 57,163 |  |  | $ | 227,200 |
Net premiums written |  | $ | 156,369 |  |  |  | 56,126 |  |  | $ | 212,495 |
Net premiums earned |  | $ | 158,809 |  |  | $ | 42,780 |  |  | $ | 201,589 |
Other income (loss) |  |  | 490 |  |  |  | (41 | ) |  |  | 449 |
Total revenues |  |  | 159,299 |  |  |  | 42,739 |  |  |  | 202,038 |
Losses and Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Net losses and loss adjustment expenses |  |  | 97,047 |  |  |  | 16,449 |  |  |  | 113,496 |
Acquisition costs and other underwriting expenses |  |  | 66,068 | (3) |  |  | 15,046 |  |  |  | 81,114 |
Income (loss) from segments |  | $ | (3,816 | ) |  | $ | 11,244 |  |  |  | 7,428 |
Unallocated Items: |  |  |  |  |  |  |  |  |  |  |  |
Net investment income |  |  |  |  |  |  |  |  |  |  | 22,488 |
Net realized investment gains |  |  |  |  |  |  |  |  |  |  | 40,226 |
Corporate and other operating expenses |  |  |  |  |  |  |  |  |  |  | (9,614 | )
Interest expense |  |  |  |  |  |  |  |  |  |  | (628 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  | 59,900 |
Income tax expense |  |  |  |  |  |  |  |  |  |  | (8,108 | )
Net income |  |  |  |  |  |  |  |  |  | $ | 51,792 |
Total assets |  | $ | 1,229,463 |  |  | $ | 650,352 | (4) |  | $ | 1,879,815 |
(1) | Includes business ceded to the Company’s Reinsurance Operations.
(2) | External business only, excluding business assumed from affiliates.
(3) | Includes federal excise tax of $838 relating to cessions from Insurance Operations to Reinsurance Operations.
(4) | Comprised of Global Indemnity Reinsurance’s total assets less its investment in subsidiaries.
Nine Months Ended September 30, 2013: (Dollars in thousands) |  | Insurance Operations (1) |  |  | Reinsurance Operations (2) |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Gross premiums written |  | $ | 172,714 |  |  | $ | 55,255 |  |  |  | 227,969 |
Net premiums written |  | $ | 159,010 |  |  | $ | 54,844 |  |  | $ | 213,854 |
Net premiums earned |  | $ | 142,812 |  |  | $ | 36,324 |  |  | $ | 179,136 |
Other income (loss) |  |  | 494 |  |  |  | (10 | ) |  |  | 484 |
Total revenues |  |  | 143,306 |  |  |  | 36,314 |  |  |  | 179,620 |
Losses and Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Net losses and loss adjustment expenses |  |  | 89,580 |  |  |  | 12,615 |  |  |  | 102,195 |
Acquisition costs and other underwriting expenses |  |  | 64,205 | (3) |  |  | 12,772 |  |  |  | 76,977 |
Income (loss) from segments |  | $ | (10,479 | ) |  | $ | 10,927 |  |  |  | 448 |
Unallocated Items: |  |  |  |  |  |  |  |  |  |  |  |
Net investment income |  |  |  |  |  |  |  |  |  |  | 28,285 |
Net realized investment gains |  |  |  |  |  |  |  |  |  |  | 10,204 |
Corporate and other operating expenses |  |  |  |  |  |  |  |  |  |  | (7,444 | )
Interest expense |  |  |  |  |  |  |  |  |  |  | (5,939 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  | 25,554 |
Income tax benefit |  |  |  |  |  |  |  |  |  |  | 2,423 |
Net income |  |  |  |  |  |  |  |  |  | $ | 27,977 |
Total assets |  | $ | 1,262,325 |  |  | $ | 656,105 | (4) |  | $ | 1,918,430 |
(1) | Includes business ceded to the Company’s Reinsurance Operations.
(2) | External business only, excluding business assumed from affiliates.
(3) | Includes federal excise tax of $482 relating to cessions from Insurance Operations to Reinsurance Operations.
(4) | Comprised of Global Indemnity Reinsurance’s total assets less its investment in subsidiaries.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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