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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows from operating activities:    
Net income $ 52,016 $ 43,395
Adjustments to reconcile net income to net cash provided by operating activities:    
Bad debt expense 262 363
Depreciation 845 745
Amortization of share-based compensation 8,766 4,639
Amortization of original issue discount on debt 659 349
Accretion of deferred credit (659) (349)
Book overdraft increase (decrease) (9,086) (3,785)
Net realized (gains) losses on investments (5,353) 15,982
Net change in unrealized (gains) losses on investments   (7,912)
Amortization of premium/accretion of discount, net 1,540 1,063
Deferred income taxes 829 5,728
Excess tax (benefits) shortfall from share-based compensation (6,465) (52)
Other 25 5
Net change in assets and liabilities relating to operating activities:    
Restricted cash and cash equivalents (3,997) 30,409
Prepaid reinsurance premiums 45,892 (10,585)
Reinsurance recoverable 51,606 14,291
Reinsurance receivable, net (12,332) 66
Premiums receivable, net (8,444) (2,634)
Accrued investment income (158) (898)
Other receivables (450) (535)
Income taxes recoverable 5,238 (11,904)
Deferred policy acquisition costs, net (11,933) 329
Purchase of trading securities   (26,009)
Proceeds from sales of trading securities   102,661
Other assets (768) (1,453)
Unpaid losses and loss adjustment expenses (22,307) (35,867)
Unearned premiums 28,387 19,372
Accounts payable 1,016 (505)
Reinsurance payable, net 16,019 33,314
Income taxes payable 3,899 803
Other liabilities and accrued expenses 514 4,124
Advance premium (1,657) 8,670
Net cash provided by (used in) operating activities 133,904 183,820
Cash flows from investing activities:    
Proceeds from sale of property and equipment 30 5
Purchases of property and equipment (1,578) (1,086)
Purchases of equity securities (74,407) (70,351)
Purchases of fixed maturities (61,760) (306,169)
Purchases of short-term investments (37,500) 0
Proceeds from sales of equity securities 121,580 390
Proceeds from sales of fixed maturities 5,168 0
Maturities of fixed maturities 17,395 9,021
Net cash provided by (used in) investing activities (31,072) (368,190)
Cash flows from financing activities:    
Preferred stock dividend (10) (15)
Common stock dividend (6,967) (9,576)
Purchase of treasury stock (29,736) (32,365)
Payments related to tax withholding for share-based compensation (12,404) (2,728)
Excess tax benefits (shortfall) from share-based compensation 6,465 51
Repayment of debt (7,103) (1,103)
Proceeds from borrowings   20,000
Net cash provided by (used in) financing activities (49,755) (25,736)
Net increase (decrease) in cash and cash equivalents 53,077 (210,106)
Cash and cash equivalents at beginning of period 117,275 347,392
Cash and cash equivalents at end of period 170,352 137,286
Supplemental cash flow and non-cash disclosures:    
Interest paid 1,158 742
Income taxes paid 28,684 36,564
Non-cash transfer of investments from trading to available for sale portfolio   $ 4,004