XML 56 R25.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Unaudited Quarterly Financial Data | 12 Months Ended
--- | ---
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract] |
Unaudited Quarterly Financial Data | Unaudited Quarterly Financial Data
2016: |  | Quarter |  | Full
(In thousands, except per share data) |  | First |  | Second |  | Third |  | Fourth |  | Year
Net premiums earned |  | $ | 221,341 |  |  | $ | 231,456 |  |  | $ | 237,376 |  |  | $ | 235,053 |  |  | $ | 925,226 |
Investment income, net of expenses |  | 27,809 |  |  | 27,248 |  |  | 27,515 |  |  | 28,094 |  |  | 110,666 |
Realized gains |  | 3,056 |  |  | 836 |  |  | 5,092 |  |  | (52 | ) |  | 8,932 |
Other revenue |  | 6,373 |  |  | 3,994 |  |  | 3,867 |  |  | 3,425 |  |  | 17,659 |
Loss incurred, net |  | 85,012 |  |  | 46,590 |  |  | 60,897 |  |  | 47,658 |  |  | 240,157 |
Underwriting and other expenses, net |  | 56,439 |  |  | 49,837 |  |  | 53,981 |  |  | 56,824 |  |  | 217,081 |
Loss on debt extinguishment |  | 13,440 |  |  | 1,868 |  |  | 75,223 |  |  | — |  |  | 90,531 |
Provision for income tax |  | 34,497 |  |  | 56,018 |  |  | 27,131 |  |  | 54,551 |  |  | 172,197 |
Net income |  | 69,191 |  |  | 109,221 |  |  | 56,618 |  |  | 107,487 |  |  | 342,517 |
Income per share (a) (b): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | 0.20 |  |  | 0.32 |  |  | 0.16 |  |  | 0.31 |  |  | 1.00 |
Diluted |  | 0.17 |  |  | 0.26 |  |  | 0.14 |  |  | 0.28 |  |  | 0.86 |
2015: |  | Quarter |  | Full
(In thousands, except per share data) |  | First |  | Second |  | Third |  | Fourth |  | Year
Net premiums earned |  | $ | 217,288 |  |  | $ | 213,508 |  |  | $ | 239,234 |  |  | $ | 226,192 |  |  | $ | 896,222 |
Investment income, net of expenses |  | 24,120 |  |  | 25,756 |  |  | 25,939 |  |  | 27,926 |  |  | 103,741 |
Realized (losses) gains |  | 26,327 |  |  | 166 |  |  | 640 |  |  | 1,228 |  |  | 28,361 |
Other revenue |  | 2,480 |  |  | 3,699 |  |  | 3,698 |  |  | 3,087 |  |  | 12,964 |
Loss incurred, net |  | 81,785 |  |  | 90,238 |  |  | 76,458 |  |  | 95,066 |  |  | 343,547 |
Underwriting and other expenses, net |  | 51,969 |  |  | 37,915 |  |  | 65,805 |  |  | 53,858 |  |  | 209,547 |
Loss on debt extinguishment |  | — |  |  | — |  |  | — |  |  | 507 |  |  | 507 |
Provision for (benefit from) income tax |  | 3,385 |  |  | 1,322 |  |  | (695,604 | ) |  | 6,584 |  |  | (684,313 | )
Net income |  | 133,076 |  |  | 113,654 |  |  | 822,852 |  |  | 102,418 |  |  | 1,172,000 |
Income per share (a) (b): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | 0.39 |  |  | 0.33 |  |  | 2.42 |  |  | 0.30 |  |  | 3.45 |
Diluted |  | 0.32 |  |  | 0.28 |  |  | 1.78 |  |  | 0.24 |  |  | 2.60 |
(a) | Due to the use of weighted average shares outstanding when calculating earnings per share, the sum of the quarterly per share data may not equal the per share data for the year.
(b) | In periods where convertible debt instruments are dilutive to earnings per share the “if-converted” method of computing diluted EPS requires an interest expense adjustment, net of tax, to net income available to shareholders. The interest expense adjustment was not tax effected for the first and second quarter of 2015 due to our valuation allowance on deferred tax assets. See Note 4 – “Earnings Per Share” for further discussion on our calculation of diluted EPS.

X
- References No definition available. + Details
Name: | us-gaap_QuarterlyFinancialInformationDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=51825399&loc=d3e1280-108306 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e725-108305 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
Name: | us-gaap_QuarterlyFinancialInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration