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Condensed Consolidated Balance Sheets (Unaudited) (USD $)
In Thousands
Sep. 30, 2011
Dec. 31, 2010
ASSETS:  
Cash and cash equivalents$ 328,838$ 147,585
Investment securities, at fair value153,476224,532
Prepaid reinsurance premiums251,342221,086
Reinsurance recoverables77,54579,552
Reinsurance receivable, net49,81637,607
Premiums receivable, net50,58043,622
Receivable from securities5,58517,556
Other receivables2,9102,864
Property and equipment, net6,5975,407
Deferred policy acquisition costs, net13,0139,446
Deferred income taxes24,12013,448
Other assets3,1261,132
Total assets966,948803,837
LIABILITIES:  
Unpaid losses and loss adjustment expenses162,954158,929
Unearned premiums375,779328,334
Advance premium21,63919,840
Accounts payable4,2873,767
Bank overdraft34,91423,030
Payable for securities17,6670
Reinsurance payable, net128,80475,553
Income taxes payable16,3788,282
Dividends payable to shareholders3,1990
Other accrued expenses22,32223,150
Long-term debt22,05923,162
Total liabilities810,002664,047
Commitments and Contingencies (Note 12)  
STOCKHOLDERS' EQUITY:  
Cumulative convertible preferred stock, $.01 par value Authorized shares - 1,000; Issued shares - 108; Outstanding shares - 108; Minimum liquidation preference, $2.66 per share11
Common stock, $.01 par value Authorized shares - 55,000; Issued shares - 41,010 and 40,407; Outstanding shares - 39,993 and 39,388410404
Treasury shares, at cost - 1,018 and 1,019(3,102)(3,109)
Additional paid-in capital35,54933,675
Retained earnings124,088108,819
Total stockholders' equity156,946139,790
Total liabilities and stockholders' equity$ 966,948$ 803,837