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Business Combinations (Tables) | 12 Months Ended
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Dec. 31, 2012
Business Combinations [Abstract] |
Assets and Liabilities Purchased in the MUSIC Transaction |
($ in thousands) |  |  |  |  |  |
ASSETS: |  |  |  |  | LIABILITIES: |  |  |
Investments |  | $ | 48,437 |  |  | Reserve for losses and loss expenses |  | $ | 58,836 |
Cash |  | 3,436 |  |  | Unearned premium |  | 28,520 |
Interest and dividends due or accrued |  | 54 |  |  | Accrued salaries and benefits |  | 43 |
Premiums receivable |  | 7,073 |  |  | Other liabilities |  | 6,742 |
Reinsurance recoverables, net |  | 43,978 |  |  | Total Liabilities |  | $ | 94,141 |
Prepaid reinsurance premiums |  | 28,520 |  |  |  |  |
Property, plant and equipment |  | 219 |  |  |  |  |  |
Deferred federal income taxes 1 |  | 5,613 |  |  |  |  |  |
Other assets |  | 8,133 |  |  |  |  |
Total Assets |  | $ | 145,463 |  |  |  |  |  |
1 In our original purchase price allocation, we recorded a net operating loss deferred tax asset of $4.8 million, which was valued based on preliminary information that was available at December 31, 2011, the time of closing. In September 2012, final information became available and this deferred tax asset was re-valued at $4.2 million, a decrease of $0.6 million. The Consolidated Balance Sheet as of December 31, 2011, as well as this schedule, has been restated to reflect this purchase price adjustment with a corresponding increase to the re-valued covenant not to compete included in other assets.

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4845-128472 + Details
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