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Condensed Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenues        
Gross premiums written $ 126,403 $ 45,425 $ 359,498 $ 239,660
Gross premiums ceded (150) 0 (150) (9,975)
Net premiums written 126,253 45,425 359,348 229,685
Change in net unearned premium reserves (17,305) 20,904 (98,388) (67,528)
Net premiums earned 108,948 66,329 260,960 162,157
Net investment income 1,552 54,617 92,072 168,804
Total revenues 110,500 120,946 353,032 330,961
Expenses        
Loss and loss adjustment expenses incurred, net 60,115 39,349 150,783 103,679
Acquisition costs, net 38,317 21,117 93,331 49,111
General and administrative expenses 10,124 9,846 29,698 24,071
Other expenses 2,982 1,246 4,789 2,675
Total expenses 111,538 71,558 278,601 179,536
Income (loss) before income tax expense (1,038) 49,388 74,431 151,425
Income tax expense (1,542) 0 (3,917) 0
Income (loss) including non-controlling interests (2,580) 49,388 70,514 151,425
Income (loss) attributable to non-controlling interests (3,417) (2,818) (5,440) (4,202)
Net income (loss) $ (5,997) $ 46,570 $ 65,074 $ 147,223
Earnings (loss) per share        
Basic (in dollars per share) $ (0.06) $ 0.52 $ 0.63 $ 1.77
Diluted (in dollars per share) $ (0.06) $ 0.51 $ 0.61 $ 1.75
Weighted average number of common shares used in the determination of earnings (loss) per share        
Basic (in shares) 103,295,920 89,620,394 103,275,204 82,630,430
Diluted (in shares) 103,295,920 90,915,805 106,454,775 83,453,835