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Insurance Operations (Tables)
 3 Months Ended
Mar. 31, 2014
Insurance [Abstract]  
Beginning and Ending Balances and Changes in DPAC, Net of DRCC

The following table presents the beginning and ending balances and the changes in DPAC, net of DRCC, for the periods presented (in thousands):

 

     Three Months Ended March 31,  
     2014     2013  

DPAC, beginning of period

    $ 54,099      $ 54,431   

Capitalized Costs

      26,782        28,692   

Amortization of DPAC

      (26,670 )      (27,732 ) 
  

 

 

    

 

 

  

DPAC, end of period

    $ 54,211      $ 55,391   
  

 

 

    

 

 

  

DRCC, beginning of period

    $ 38,200      $ 37,149   

Ceding Commissions Written

      21,880        22,312   

Earned Ceding Commissions

      (21,762 )      (21,447 ) 
  

 

 

    

 

 

  

DRCC, end of period

    $ 38,318      $ 38,014   
  

 

 

    

 

 

  

DPAC (DRCC), net, beginning of period

    $ 15,899      $ 17,282   

Capitalized Costs, net

      4,902        6,379   

Amortization of DPAC (DRCC), net

      (4,908 )      (6,284 ) 
  

 

 

    

 

 

  

DPAC (DRCC), net, end of period

    $ 15,893      $ 17,377   
  

 

 

    

 

 

  
Change in Liability for Unpaid Losses and LAE

Set forth in the following table is the change in liability for unpaid losses and LAE for the periods presented (in thousands):

 

     Three Months Ended March 31,  
     2014     2013  

Balance at beginning of period

    $ 159,222      $ 193,241   

Less reinsurance recoverable

      (68,584 )      (81,415 ) 
  

 

 

    

 

 

  

Net balance at beginning of period

      90,638        111,826   
  

 

 

    

 

 

  

Incurred (recovered) related to:

     

Current year

      26,855        26,654   

Prior years

      (30 )      (171 ) 
  

 

 

    

 

 

  

Total incurred

      26,825        26,483   
  

 

 

    

 

 

  

Paid related to:

     

Current year

      3,867        1,172   

Prior years

      27,148        30,289   
  

 

 

    

 

 

  

Total paid

      31,015        31,461   
  

 

 

    

 

 

  

Net balance at end of period

      86,448        106,848   

Plus reinsurance recoverable

      64,109        75,680   
  

 

 

    

 

 

  

Balance at end of period

    $ 150,557      $ 182,528   
  

 

 

    

 

 

  
Statutory Capital and Surplus, and an Amount Representing Ten Percent of Total Liabilities for both UPCIC and APPCIC

The following table presents the amount of statutory capital and surplus, and an amount representing ten percent of total liabilities for both UPCIC and APPCIC as of the dates presented (in thousands):

 

     As of
March 31, 2014		      As of
December 31, 2013		  

Ten percent of total liabilities

      

UPCIC

    $ 39,971       $ 39,179   

APPCIC

    $ 630       $ 625   

Statutory capital and surplus

      

UPCIC

    $ 166,720       $ 161,803   

APPCIC

    $ 13,575       $ 13,708   
Assets Held by Insurance Regulators

The following table represents assets held by insurance regulators as of the dates presented (in thousands):

 

                                     
     As of
March 31,
2014		      As of
December 31,
2013		  

Restricted cash and cash equivalents

    $ 2,635       $ 2,600   

Investments

    $ 3,683       $ 3,707