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Condensed Consolidated Statements of Income (unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
PREMIUMS EARNED AND OTHER REVENUES    
Direct premiums written $ 204,139 $ 190,003
Ceded premiums written (141,317) (163,434)
Net premiums written 62,822 26,569
Change in net unearned premium 2,587 22,071
Premiums earned, net 65,409 48,640
Net investment income (expense) 12 (36)
Net realized gains (losses) on investments (trading) (16,037) (7,449)
Net change in unrealized gains (losses) on investments (trading) 7,874 9,187
Net foreign currency gains (losses) on investments   23
Commission revenue 4,986 4,541
Policy fees 3,687 3,901
Other revenue 1,524 1,440
Total premiums earned and other revenues 67,455 60,247
OPERATING COSTS AND EXPENSES    
Losses and loss adjustment expenses 26,483 26,174
General and administrative expenses 21,210 17,844
Total operating costs and expenses 47,693 44,018
INCOME BEFORE INCOME TAXES 19,762 16,229
Income taxes, current 3,947 774
Income taxes, deferred 3,856 5,582
Income taxes, net 7,803 6,356
NET INCOME 11,959 9,873
Basic earnings per common share $ 0.30 $ 0.24
Weighted average common shares outstanding - Basic 39,917 39,388
Fully diluted earnings per common share $ 0.29 $ 0.24
Weighted average common shares outstanding - Diluted 41,199 40,544
Cash dividend declared per common share $ 0.08 $ 0.10
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME    
Net income 11,959 9,873
Change in net unrealized gains (losses) on available for sale investments, net of tax      
Comprehensive income (loss) $ 11,959 $ 9,873