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Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities:    
Net income $ 28,988 $ 17,650
Adjustments to reconcile net income to net cash provided by operating activities:    
Bad debt expense 254 103
Depreciation 497 410
Amortization of stock-based compensation 2,928 1,692
Amortization of original issue discount 101  
Accretion of deferred credit (101)  
Net realized (gains) losses on investments 16,038 9,154
Net change in unrealized (gains) losses on investments (7,897) (3,399)
Loss (gain) on disposal of assets 5  
Net foreign currency (gains) losses on investments   (23)
Amortization of premium/accretion of discount, net 287 21
Deferred income taxes 4,164 1,711
Excess tax (benefits) shortfall from stock-based compensation (4) 71
Net change in assets and liabilities relating to operating activities:    
Restricted cash and cash equivalents 30,356 4,038
Prepaid reinsurance premiums (16,020) (4,740)
Reinsurance recoverables 10,040 (29,753)
Reinsurance receivables, net (208) (70,459)
Premiums receivable, net (6,972) (10,628)
Accrued investment income (729) 199
Other receivables (1,431) (1,123)
Income taxes recoverable (6,484) (624)
Deferred policy acquisition costs, net 41 (4,748)
Purchase of trading securities (26,009) (200,584)
Proceeds from sales of trading securities 102,661 217,301
Other assets (849) 17
Unpaid losses and loss adjustment expenses (26,981) (22,590)
Unearned premiums 32,616 47,110
Accounts payable 642 1,028
Reinsurance payable, net 49,440 186,290
Income taxes payable (502) (11,480)
Other liabilities and accrued expenses (2,336) (1,070)
Advance premium 10,649 6,216
Net cash provided by (used in) operating activities 193,184 131,790
Cash flows from investing activities:    
Proceeds from sale of property and equipment 5 18
Purchase of property and equipment (848) (2,227)
Purchases of equity securities, available for sale (51,836)  
Purchases of fixed maturities, available for sale (292,989)  
Proceeds from sales of equity securities, available for sale 14  
Proceeds from sales of fixed maturities, available for sale 531  
Maturities of fixed maturity securities, available for sale 4,000  
Net cash provided by (used in) investing activities (341,123) (2,209)
Cash flows from financing activities:    
Bank overdraft increase (decrease) (1,068) 2,166
Preferred stock dividend (10) (259)
Common stock dividend (6,080) (4,012)
Issuance of common stock   91
Purchase of treasury stock (28,077)  
Payments related to tax withholding for share-based compensation (2,630) (121)
Excess tax benefits (shortfall) from stock-based compensation 4 (71)
Repayment of debt (735) (735)
Proceeds from borrowings 20,000  
Net cash provided by (used in) financing activities (18,596) (2,941)
Net increase (decrease) in cash and cash equivalents (166,535) 126,640
Cash and cash equivalents at beginning of period 347,392 229,685
Cash and cash equivalents at end of period 180,857 356,325
Supplemental cash and non-cash flow disclosures:    
Interest paid 319 241
Income taxes paid 7,833 21,953
Non-cash transfer of investments from trading to available for sale portfolio $ 4,004