Exhibit 99.3
The Midland Company
Supplemental Financial Information by Segment
Financial Highlights
(all amounts in 000’s except per share data)
Three Months Ended Mar. 31 | |||||||||||
2007 | 2006 | % | |||||||||
Income Statement Data | |||||||||||
Insurance Revenue | $ | 197,207 | $ | 175,151 | 12.6 | % | |||||
Transportation Revenue | 12,791 | 11,781 | 8.6 | % | |||||||
Total Revenue | $ | 209,998 | $ | 186,932 | 12.3 | % | |||||
Net Income | $ | 23,761 | $ | 22,435 | |||||||
Balance Sheet Data | |||||||||||
Cash & Invested Assets | $ | 1,037,339 | $ | 944,076 | 9.9 | % | |||||
Total Assets | $ | 1,572,537 | $ | 1,408,591 | 11.6 | % | |||||
Total Debt | $ | 98,742 | $ | 99,422 | -0.7 | % | |||||
Shareholders’ Equity | $ | 597,145 | $ | 506,742 | 17.8 | % | |||||
Common Shares Outstanding | 19,306 | 19,040 | |||||||||
Per Share Data | |||||||||||
Net Income (Diluted) | $ | 1.20 | $ | 1.15 | |||||||
Dividends Declared | $ | 0.10000 | $ | 0.06125 | 63.3 | % | |||||
Market Value | $ | 42.42 | $ | 34.98 | 21.3 | % | |||||
Book Value | $ | 30.93 | $ | 26.61 | 16.2 | % | |||||
AMIG’s Property and Casualty Operations | |||||||||||
Direct and Assumed Written Premiums | $ | 205,381 | $ | 175,108 | 17.3 | % | |||||
Net Written Premium | $ | 176,250 | $ | 152,544 | 15.5 | % | |||||
Combined Ratio Before Catastrophes | 89.4 | % | 85.9 | % | |||||||
Catastrophe Effects on Combined Ratio | 1.9 | % | 2.9 | % | |||||||
Combined Ratio | 91.3 | % | 88.8 | % |
Overview of Premium Volume
Three Months Ended Mar. 31, 2007 | |||||||||
Business Segment | Gross Written Premium | Net Written Premium | Net Earned Premium | ||||||
Residential Property | $ | 110.5 | $ | 95.1 | $ | 94.8 | |||
Recreational Casualty | 21.6 | 21.2 | 22.9 | ||||||
Financial Institutions | 48.8 | 45.5 | 40.9 | ||||||
All Other Insurance | 38.3 | 19.7 | 21.3 | ||||||
Total | $ | 219.2 | $ | 181.5 | $ | 179.9 | |||
Residential Property
(all amounts in 000’s)
Three Months Ended Mar. 31 | |||||||||
2007 | 2006 | % | |||||||
Direct and Assumed Written Premiums | $ | 110,534 | $ | 105,068 | 5.2 | % | |||
Net Written Premiums | $ | 95,101 | $ | 96,023 | -1.0 | % | |||
Net Earned Premium | $ | 94,783 | $ | 94,747 | 0.0 | % | |||
Service Fees | 1,511 | 1,553 | -2.7 | % | |||||
Total Revenues | $ | 96,294 | $ | 96,300 | 0.0 | % | |||
Pre-Tax Income (Loss) | $ | 13,112 | $ | 14,433 |
Recreational Casualty
(all amounts in 000’s)
Three Months Ended Mar. 31 | |||||||||
2007 | 2006 | % | |||||||
Direct and Assumed Written Premiums | $ | 21,565 | $ | 21,105 | 2.2 | % | |||
Net Written Premiums | $ | 21,154 | $ | 20,719 | 2.1 | % | |||
Net Earned Premium | $ | 22,899 | $ | 24,236 | -5.5 | % | |||
Service Fees | 441 | 444 | -0.7 | % | |||||
Total Revenues | $ | 23,340 | $ | 24,680 | -5.4 | % | |||
Pre-Tax Income (Loss) | $ | 4,142 | $ | 6,468 |
Financial Institutions
(all amounts in 000’s)
Three Months Ended Mar. 31 | |||||||||
2007 | 2006 | % | |||||||
Direct and Assumed Written Premiums | $ | 48,821 | $ | 23,970 | 103.7 | % | |||
Net Written Premiums | $ | 45,550 | $ | 21,108 | 115.8 | % | |||
Net Earned Premium | $ | 40,968 | $ | 21,983 | 86.4 | % | |||
Pre-Tax Income (Loss) | $ | 5,050 | $ | 1,181 |
All Other Insurance
(all amounts in 000’s)
Three Months Ended Mar. 31 | |||||||||
2007 | 2006 | % | |||||||
Direct and Assumed Written Premiums | $ | 38,286 | $ | 34,286 | 11.7 | % | |||
Net Written Premiums | $ | 19,706 | $ | 16,842 | 17.0 | % | |||
Net Earned Premium | $ | 21,296 | $ | 18,263 | 16.6 | % | |||
Agency Revenues | 1,663 | 1,176 | 41.4 | % | |||||
Service Fees | — | 2 | -100.0 | % | |||||
Total Revenues | $ | 22,959 | $ | 19,441 | 18.1 | % | |||
Pre-Tax Income (Loss) | $ | 7,158 | $ | 6,984 |