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v2.4.0.8

Condensed Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012
--- | --- | ---
Investments held in trust, at fair value: |  |
Fixed-maturity securities | $ 172,372 | $ 201,660
Cash equivalents held in trust | 12,303 | 17,019
Total investments held in trust | 184,675 | 218,679
Cash and cash equivalents | 8,347 | 16,761
Fixed-maturity securities, at fair value | 77,928 | 75,809
Restricted cash | 115 | 25,169
Accrued investment income | 1,449 | 1,698
Other assets | 1,451 | 1,800
Total assets | 273,965 | 339,916
Liabilities: |  |
Notes payable - principal | 102,181 | 136,272
Notes payable - interest | 1,107 | 1,476
Losses and loss adjustment reserves | 57,570 | 82,524
Losses payable | 2,281 | 2,140
Unearned premiums | 1,506 | 225
Accrued ceding commissions | 104 | 136
Loss contract fair market value reserve | 51,230 | 52,217
Other liabilities | 473 | 536
Total liabilities | 216,452 | 275,526
Commitments and contingencies |  |
Shareholders' equity: |  |
Preferred stock, $0.00001 par value, 5,000,000 authorized, zero outstanding as of September 30, 2013 and December 31, 2012 |  |
Common stock, $0.00001 par value; 500,000,000 authorized, 201,842,351 and 201,156,078 shares issued and outstanding as of September 30, 2013 and December 31, 2012 respectively | 2 | 2
Additional paid-in capital | 77,042 | 76,741
Accumulated deficit | (19,531) | (12,353)
Total shareholders' equity | 57,513 | 64,390
Total liabilities and shareholders' equity | $ 273,965 | $ 339,916

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