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Insurance Operations (Tables)

12 Months Ended

Dec. 31, 2015

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):

	For the years ended December 31,
	2015			2014			2013
DPAC, beginning of year	$	54,603		$	54,099		$	54,431
Capitalized Costs		116,954			108,072			109,981
Amortization of DPAC		(111,538	)		(107,568	)		(110,313	)
DPAC, end of year	$	60,019		$	54,603		$	54,099
DRCC, beginning of year	$	28,943		$	38,200		$	37,149
Ceding Commissions Written		(5,276	)		64,810			89,679
Earned Ceding Commissions		(23,667	)		(74,067	)		(88,628	)
DRCC, end of year	$	—		$	28,943		$	38,200
DPAC (DRCC), net, beginning of year	$	25,660		$	15,899		$	17,282
Capitalized Costs, net		122,230			43,262			20,302
Amortization of DPAC (DRCC), net		(87,871	)		(33,501	)		(21,685	)
DPAC (DRCC), net, end of year	$	60,019		$	25,660		$	15,899

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):

	Year Ended December 31,
	2015			2014			2013
Balance at beginning of year	$	134,353		$	159,222		$	193,241
Less: Reinsurance recoverable		(47,350	)		(68,584	)		(81,415	)
Net balance at beginning of period		87,003			90,638			111,826
Incurred (recovered) related to:
Current year		188,040			124,011			111,560
Prior years		(301	)		(736	)		(2,945	)
Total incurred		187,739			123,275			108,615
Paid related to:
Current year		123,952			73,981			62,529
Prior years		65,490			52,929			67,274
Total paid		189,442			126,910			129,803
Net balance at end of period		85,300			87,003			90,638
Plus: Reinsurance recoverable		13,540			47,350			68,584
Balance at end of year	$	98,840		$	134,353		$	159,222

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 U.S. GAAP, and an amount representing ten percent of total liabilities for both UPCIC and APPCIC as of the dates presented (in thousands):

	As of December 31,
	2015		2014
Ten percent of total liabilities
UPCIC	$	55,928	$	42,659
APPCIC	$	463	$	514
Statutory capital and surplus
UPCIC	$	256,987	$	200,173
APPCIC	$	14,777	$	14,036

Recorded Capital Contributions

Through UVECF, the Insurance Entities’ parent company, UVE recorded capital contributions for the periods presented (in thousands):

	For the Years Ended December 31,
	2015		2014		2013
Capital Contributions	$	—	$	—	$	—

Assets Held by Insurance Regulators

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

	As of December 31,
	2015		2014
Restricted cash and cash equivalents	$	2,635	$	2,635
Investments	$	3,876	$	3,609

- 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.

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