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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash flows from operating activities:    
Net Income $ 25,906 $ 22,422
Adjustments to reconcile net income to net cash provided by operating activities:    
Bad debt expense (recovery) 224 622
Depreciation 625 379
Amortization of stock-based compensation 2,559 1,888
Net realized (gains) losses on investments 12,296 (12,496)
Net unrealized (gains) losses on investments (11,490) 23,037
Net foreign currency (gains) losses on investments (23) 384
Amortization of premium / accretion of discount, net (5) 185
Deferred income taxes 6,806 (10,672)
Excess tax (benefits) shortfall from stock-based compensation 1,765  
Other   (21)
Net change in assets and liabilities relating to operating activities:    
Restricted cash and cash equivalents (16,823) (51,533)
Prepaid reinsurance premiums (5,804) (30,256)
Reinsurance recoverables 4,906 2,007
Reinsurance receivable, net 24,677 (12,209)
Premiums receivable, net (10,414) (7,578)
Accrued investment income 274 580
Other receivables (766) (629)
Income taxes recoverable (406)  
Deferred policy acquisition costs, net (5,023) (3,567)
Proceeds from sale of trading securities 310,943 661,809
Purchases of trading securities (254,270) (572,790)
Other assets 362 (1,428)
Unpaid losses and loss adjustment expenses (14,541) 4,025
Unearned premiums 48,872 47,445
Accounts payable (62) 519
Reinsurance payable, net 36,437 53,251
Income taxes payable (14,482) 8,096
Other liabilities and accrued expenses 3,274 (828)
Advance premium (922) 1,799
Net cash provided by (used in) operating activities 144,895 124,441
Cash flows from investing activities:    
Proceeds from sale of property and equipment 18 63
Purchases of property and equipment (2,365) (1,611)
Net cash provided by (used in) investing activities (2,347) (1,548)
Cash flows from financing activities:    
Bank overdraft 3,713 11,884
Preferred stock dividend (264) (15)
Common stock dividend (7,225) (3,939)
Issuance of common stock 207  
Payments related to tax withholding for share-based compensation (121)  
Excess tax benefits (shortfall) from stock-based compensation (1,765)  
Repayment of debt (1,103) (1,103)
Net cash provided by (used in) financing activities (6,558) 6,827
Net increase (decrease) in cash and cash equivalents 135,990 129,720
Cash and cash equivalents at beginning of period 229,685 133,645
Cash and cash equivalents at end of period 365,675 263,365
Supplemental cash flow disclosures    
Interest 327 744
Income taxes $ 22,453 $ 13,513