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Insurance Operations (Tables)

3 Months Ended

Mar. 31, 2015

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,
	2015				2014
DPAC, beginning of period	$	54,603			$	54,099
Capitalized Costs		28,567				26,782
Amortization of DPAC		(26,987	)			(26,670	)
DPAC, end of period	$	56,183			$	54,211
DRCC, beginning of period	$	28,943			$	38,200
Ceding Commissions Written		17,661				21,880
Earned Ceding Commissions		(16,616	)			(21,762	)
DRCC, end of period	$	29,988			$	38,318
DPAC (DRCC), net, beginning of period	$	25,660			$	15,899
Capitalized Costs, net		10,906				4,902
Amortization of DPAC (DRCC), net		(10,371	)			(4,908	)
DPAC (DRCC), net, end of period	$	26,195			$	15,893

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,
	2015				2014
Balance at beginning of period	$	134,353			$	159,222
Less: Reinsurance recoverable		(47,350	)			(68,584	)
Net balance at beginning of period		87,003				90,638
Incurred (recovered) related to:
Current year		33,559				26,855
Prior years		27				(30	)
Total incurred		33,586				26,825
Paid related to:
Current year		6,789				3,867
Prior years		31,352				27,148
Total paid		38,141				31,015
Net balance at end of period		82,448				86,448
Plus: Reinsurance recoverable		42,713				64,109
Balance at end of period	$	125,161			$	150,557

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 capital and surplus calculated in accordance with statutory accounting principles, which differ from GAAP, and an amount representing ten percent of total liabilities for both UPCIC and APPCIC as of the dates presented (in thousands):

	March 31,				December 31,
	2015				2014
Ten percent of total liabilities
UPCIC	$	47,443			$	42,659
APPCIC	$	604			$	514
Statutory capital and surplus
UPCIC	$	215,270			$	200,173
APPCIC	$	14,003			$	14,036

Assets Held by Insurance Regulators

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

	March 31,				December 31,
	2015				2014
Restricted cash and cash equivalents	$	2,635			$	2,635
Investments	$	3,648			$	3,609

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- Definition

Tabular disclosure of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer; the aggregate carrying amount of current assets, not separately presented elsewhere in the balance sheet; and other deferred costs.

+ References

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

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- Definition

Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims.

+ References

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-Paragraph 3

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- Definition

Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority.

+ References

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