Mercury Insurance 2015 Annual Report Download - page 98

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86
The following table presents operating results by reportable segment for the years ended:
December 31, 2015 December 31, 2014 December 31, 2013
Property
&
Casualty
Lines Other (1) Total
Property
&
Casualty
Lines Other (1) Total
Property
&
Casualty
Lines Other (1) Total
(Amounts in millions)
Net premiums earned $ 2,906.6 $ 51.3 $ 2,957.9 $ 2,737.3 $ 58.9 $ 2,796.2 $ 2,638.4 $ 59.8 $ 2,698.2
Less:
Incurred expenses 2,117.3 28.2 2,145.5 1,951.4 34.7 1,986.1 1,926.4 36.3 1,962.7
Underwriting expenses 770.0 20.0 790.0 749.7 25.9 775.6 701.0 23.9 724.9
Underwriting gain 19.3 3.1 22.4 36.2 (1.7) 34.5 11.0 (0.4) 10.6
Investment income 126.3 125.7 124.5
Net realized investment
(losses) gains (83.8) 81.1 (11.4)
Other income 8.9 8.7 9.7
Interest expense (3.2) (2.6) (1.3)
Pre-tax income $ 70.6 $ 247.4 $ 132.1
Net income $ 74.5 $ 177.9 $ 112.1
The following table presents the Company’s direct premiums written and net premiums earned by line of insurance
business for the years ended:
December 31, 2015 December 31, 2014 December 31, 2013
Property
&
Casualty
Lines Other (1) Total
Property
&
Casualty
Lines Other (1) Total
Property
&
Casualty
Lines Other (1) Total
(Amounts in millions)
Private passenger
automobile $ 2,345.8 $ — $ 2,345.8 $ 2,223.1 $ — $ 2,223.1 $ 2,165.6 $ — $ 2,165.6
Homeowners 402.2 — 402.2 374.5 — 374.5 340.0 — 340.0
Commercial automobile 153.5 — 153.5 135.9 — 135.9 104.7 — 104.7
Other 81.6 29.8 111.4 75.4 44.3 119.7 64.4 62.8 127.2
Direct premiums written $ 2,983.1 $ 29.8 $ 3,012.9 $ 2,808.9 $ 44.3 2,853.2 $ 2,674.7 $ 62.8 $ 2,737.5
Private passenger
automobile $ 2,308.6 $ — $ 2,308.6 $ 2,203.0 $ — $ 2,203.0 $ 2,163.4 $ — $ 2,163.4
Homeowners 379.7 — 379.7 347.9 — 347.9 328.5 — 328.5
Commercial automobile 144.4 — 144.4 121.8 — 121.8 88.3 — 88.3
Other 73.9 51.3 125.2 64.6 58.9 123.5 58.2 59.8 118.0
Net premiums earned $ 2,906.6 $ 51.3 $ 2,957.9 $ 2,737.3 $ 58.9 $ 2,796.2 $ 2,638.4 $ 59.8 $ 2,698.2
__________
(1) "Other" represents net premiums written and earned from an operating segment that does not meet the quantitative thresholds
required to be considered a reportable segment. This operating segment offers automobile mechanical breakdown warranties
which are sold through auto dealerships and credit unions.
Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure
None