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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flows from operating activities:    
Net income $ 30,675 $ 28,988
Adjustments to reconcile net income to net cash provided by operating activities:    
Bad debt expense 166 254
Depreciation 551 497
Amortization of share-based compensation 5,210 2,928
Amortization of original issue discount on debt 480 101
Accretion of deferred credit (480) (101)
Book overdraft increase (decrease) (10,635) (1,068)
Net realized (gains) losses on investments (4,852) 16,038
Net change in unrealized (gains) losses on investments 0 (7,897)
Amortization of premium/accretion of discount, net 1,007 287
Deferred income taxes 394 4,164
Excess tax (benefits) shortfall from share-based compensation (6,342) (4)
Other (5) 5
Net change in assets and liabilities relating to operating activities:    
Restricted cash and cash equivalents (35) 30,356
Prepaid reinsurance premiums 47,403 (16,020)
Reinsurance recoverable 30,281 10,040
Reinsurance receivable, net (26,149) (208)
Premiums receivable, net (8,707) (6,972)
Accrued investment income (30) (729)
Other receivables (721) (1,431)
Income taxes recoverable 5,328 (6,484)
Deferred policy acquisition costs, net (12,178) 41
Purchase of trading securities 0 (26,009)
Proceeds from sales of trading securities 0 102,661
Other assets (170) (849)
Unpaid losses and loss adjustment expenses (14,597) (26,981)
Unearned premiums 29,221 32,616
Accounts payable 1,368 642
Reinsurance payable, net 33,863 49,440
Income taxes payable 4,183 (502)
Other liabilities and accrued expenses (6,745) (2,336)
Advance premium (288) 10,649
Net cash provided by (used in) operating activities 98,196 192,116
Cash flows from investing activities:    
Proceeds from sale of property and equipment 30 5
Purchase of property and equipment (1,108) (848)
Purchases of available for sale equity securities (13,251) (51,836)
Purchases of available for sale fixed maturities (49,230) (292,989)
Proceeds from sales of available for sale equity securities 68,417 14
Proceeds from sales of available for sale fixed maturities 4,371 0
Maturities of available for sale fixed maturities 12,541 4,531
Net cash provided by (used in) investing activities 21,770 (341,123)
Cash flows from financing activities:    
Preferred stock dividend (8) (10)
Common stock dividend (3,464) (6,080)
Purchase of treasury stock (19,737) (28,077)
Payments related to tax withholding for share-based compensation (12,282) (2,630)
Excess tax benefits (shortfall) from share-based compensation 6,342 4
Repayment of debt (6,735) (735)
Proceeds from borrowings 0 20,000
Net cash provided by (used in) financing activities (35,884) (17,528)
Net increase (decrease) in cash and cash equivalents 84,082 (166,535)
Cash and cash equivalents at beginning of period 117,275 347,392
Cash and cash equivalents at end of period 201,357 180,857
Supplemental cash flow and non-cash disclosures:    
Interest paid 828 319
Income taxes paid 12,935 7,833
Non-cash transfer of investments from trading to available for sale portfolio $ 0 $ 4,004