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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Cash flows from operating activities:    
Net Income $ 17,650 $ 21,447
Adjustments to reconcile net income to net cash provided by operating activities:    
Bad debt expense (recovery) 103 394
Depreciation 410 299
Amortization of stock-based compensation 1,692 919
Net realized (gains) losses on investments 9,154 (6,612)
Net unrealized (gains) losses on investments (3,399) 7,052
Net foreign currency (gains) losses on investments (23) (71)
Amortization of premium / accretion of discount, net 21 170
Deferred income taxes 1,711 (3,609)
Excess tax (benefits) shortfall from stock-based compensation 71   
Other    (21)
Net change in assets and liabilities relating to operating activities:    
Restricted cash and cash equivalents 4,038 (19,689)
Prepaid reinsurance premiums (4,740) (32,496)
Reinsurance recoverables (29,753) 2,349
Reinsurance receivable, net (70,459) (10,419)
Premiums receivable, net (10,628) (8,790)
Accrued investment income 199 981
Other receivables (1,123) (1,682)
Income taxes recoverable (624)  
Deferred policy acquisition costs, net (4,748) (2,580)
Proceeds from sale of trading securities 217,301 454,266
Purchases of trading securities (200,584) (327,774)
Other assets 17 (1,936)
Unpaid losses and loss adjustment expenses (22,590) (3,554)
Unearned premiums 47,110 51,934
Accounts payable 1,028 1,925
Reinsurance payable, net 186,290 64,977
Income taxes payable (11,480) 5,198
Other liabilities and accrued expenses (1,070) (3,128)
Advance premium 6,216 5,990
Net cash provided by (used in) operating activities 131,790 195,540
Cash flows from investing activities:    
Proceeds from sale of property and equipment 18 63
Purchases of property and equipment (2,227) (1,021)
Net cash Provided by (used in) investing activities (2,209) (958)
Cash flows from financing activities:    
Bank overdraft 2,166 (433)
Preferred stock dividend (259) (10)
Common stock dividend (4,012) (3,939)
Issuance of common stock 91  
Payments related to tax withholding for share-based compensation (121)  
Excess tax benefits (shortfall) from stock-based compensation (71)  
Repayment of debt (735) (735)
Net cash provided by (used in) financing activities (2,941) (5,117)
Net increase in cash and cash equivalents 126,640 189,465
Cash and cash equivalents at beginning of period 229,685 133,645
Cash and cash equivalents at end of period 356,325 323,110
Supplemental cash flow disclosure    
Interest 241 564
Income taxes $ 21,953 $ 13,083