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INCOME TAXES (DETAILS 2) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2011
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Dec. 31, 2010
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Dec. 31, 2009
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| Deferred tax assets: | |||
| Discounting of loss reserves | $ 65,271 | $ 61,997 | |
| Unearned premiums | 31,640 | 30,623 | |
| Operating loss carryforwards | 21,074 | 8,671 | |
| Accruals not currently deductible | 14,187 | 16,282 | |
| Net unrealized losses and impairments on investments | 6,310 | 5,140 | |
| Capital loss carryforwards | 4,245 | 17,763 | |
| Other deferred tax assets | 7,357 | 5,541 | |
| Deferred tax assets before valuation allowance | 150,084 | 146,017 | |
| Valuation allowance | (21,264) | (18,180) | |
| Deferred tax assets net of valuation allowance | 128,820 | 127,837 | |
| Deferred tax liabilities: | |||
| Deferred acquisition costs | (29,195) | (28,697) | |
| Net unrealized gains on investments | (25,925) | (14,538) | |
| Amortization of intangible assets and goodwill | (6,999) | (5,477) | |
| Accrued market discounts | (4,156) | (2,753) | |
| Other deferred tax liabilities | (1,709) | (3,766) | |
| Deferred tax liabilities | (67,984) | (55,231) | |
| Net deferred tax assets | $ 60,836 | $ 72,606 | $ 72,362 |
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- Definition
The tax effect, as of the balance sheet date, of the amount of the estimated future tax deductions, before any related valuation allowance, arising from unrealized losses on securities which can only be deducted for tax purposes when the losses are realized, and which can only be realized if sufficient tax-basis income is generated in future periods to enable the deduction to be taken. No definition available.
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- Definition
The future tax effect, as of the balance sheet date, related to interest income attributable to the accretion of market discount on bonds acquired in the secondary market which will be taxable only when the investment is sold, redeemed, or transferred. No definition available.
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- Definition
The tax effect, as of the balance sheet date, of the amount of the estimated future taxable income arising from unrealized gains on securities which will be taxable only when the gains are realized. No definition available.
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- Details
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- Details
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- Definition
The cumulative amount for all deferred tax liabilities as of the balance sheet date arising from temporary differences between accounting income in accordance with generally accepted accounting principles and tax-basis income that will result in future taxable income exceeding future accounting income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The tax effect as of the balance sheet date of the amount of future tax deductions arising from capital losses in excess of statutory limitations in historical filings, and which can only be utilized if sufficient tax-basis income is generated in future periods and providing tax laws continue to allow such utilization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The sum of the tax effects as of the balance sheet date of the amounts of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws ( before the valuation allowance, if any, to reduce such sum amount to net realizable value). Includes any tax benefit realized in deferred tax assets for significant impacts of tax planning strategies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
For entities that net deferred tax assets and tax liabilities, represents the unclassified net amount of deferred tax assets and liabilities as of the balance sheet date, which result from applying the applicable enacted tax rate to net temporary differences and carryforwards pertaining to assets or liabilities. A temporary difference is a difference between the tax basis of an asset or liability and its carrying amount in the financial statements prepared in accordance with generally accepted accounting principles that will reverse in ensuing periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; net of deducting the allocated valuation allowance, if any, to reduce such amount to net realizable value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The sum of the tax effects as of the balance sheet date of the amount of excesses of tax deductions over gross income in a year which cannot be used on the tax returns in the current year but can be carried forward to reduce taxable income or income taxes payable in a future year, for which there must be sufficient tax-basis income to utilize a portion or all of the carryforward amount to realize the deferred tax asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The tax effect as of the balance sheet date of the amount of estimated future tax deductions arising from other temporary differences not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The tax effect as of the balance sheet date of the amount of the estimated future tax deductions arising from currently nondeductible expenses in accrued liabilities, which can only be deducted for tax purposes when such items are actually incurred, and which can only be realized if sufficient tax-basis income is generated in future periods to enable the deduction to be taken. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The tax effect as of the balance sheet date of the amount of the estimated future tax deductions arising from estimates of loss reserves, other than estimated credit losses, which can only be deducted for tax purposes when actual losses are incurred, and which can only be realized if sufficient tax-basis income is generated in future periods to enable the deduction to be taken. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The tax effect as of the balance sheet date of the amount of the estimated future tax deductions arising from the unearned premium reserve, which will be deductible from future taxable income when premiums are earned, and which can only be realized if sufficient tax-basis income is generated in future periods to enable the tax reduction to be taken. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The sum of the portions of deferred tax assets as of the balance sheet date for which, based on the weight of available evidence, it is more likely than not will not be realized through future reductions of tax-based income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount as of the balance sheet date of the estimated future tax effects attributable to policy acquisition costs being expensed for tax purposes but capitalized in conformity with generally accepted accounting principles, which will reverse in future periods when amortization of such capitalized costs cannot be deducted for tax purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cumulative amount of the estimated future tax effects attributable to the difference between the tax basis of goodwill and intangible assets and the basis of goodwill and intangible assets computed in accordance with generally accepted accounting principles. The difference in basis, whether due to amortization or other reasons, will increase future taxable income when such difference reverses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cumulative amount of the estimated future tax effects attributable to other temporary differences not otherwise specified in this taxonomy that were expensed for tax purposes but capitalized in conformity with generally accepted accounting principles, or which were recognized as revenue under GAAP but not for tax purposes, which will reverse in future periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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