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Insurance Operations (Tables)

6 Months Ended

Jun. 30, 2016

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								Six Months Ended
	June 30,								June 30,
	2016				2015				2016				2015
DPAC, beginning of period	$	61,158			$	56,183			$	60,019			$	54,603
Capitalized Costs		36,825				31,722				67,411				60,289
Amortization of DPAC		(30,793	)			(25,724	)			(60,240	)			(52,711	)
DPAC, end of period	$	67,190			$	62,181			$	67,190			$	62,181
DRCC, beginning of period	$	—			$	29,988			$	—			$	28,943
Ceding Commissions Written		—				(22,938	)			—				(5,276	)
Earned Ceding Commissions		—				(7,050	)			—				(23,667	)
DRCC, end of period	$	—			$	—			$	—			$	—
DPAC (DRCC), net, beginning of period	$	61,158			$	26,195			$	60,019			$	25,660
Capitalized Costs, net		36,825				54,660				67,411				65,565
Amortization of DPAC (DRCC), net		(30,793	)			(18,674	)			(60,240	)			(29,044	)
DPAC (DRCC), net, end of period	$	67,190			$	62,181			$	67,190			$	62,181

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								Six Months Ended
	June 30,								June 30,
	2016				2015				2016				2015
Balance at beginning of period	$	84,975			$	125,161			$	98,840			$	134,353
Less: Reinsurance recoverable		(7,709	)			(42,713	)			(13,540	)			(47,350	)
Net balance at beginning of period		77,266				82,448				85,300				87,003
Incurred (recovered) related to:
Current year		60,084				39,637				126,185				73,200
Prior years		(1	)			67				15				94
Total incurred		60,083				39,704				126,200				73,294
Paid related to:
Current year		54,041				23,830				72,659				30,623
Prior years		26,122				17,982				81,655				49,334
Total paid		80,163				41,812				154,314				79,957
Net balance at end of period		57,186				80,340				57,186				80,340
Plus: Reinsurance recoverable		2,958				31,777				2,958				31,777
Balance at end of period	$	60,144			$	112,117			$	60,144			$	112,117

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):

	June 30,				December 31,
	2016				2015
Ten percent of total liabilities
UPCIC	$	67,311			$	55,928
APPCIC	$	566			$	463
Statutory capital and surplus
UPCIC	$	294,165			$	256,987
APPCIC	$	14,804			$	14,777

Assets Held by Insurance Regulators

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

	June 30,				December 31,
	2016				2015
Restricted cash and cash equivalents	$	2,635			$	2,635
Investments	$	3,986			$	3,876

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+ References

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-Name Accounting Standards Codification
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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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-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=65670824&loc=d3e14764-158437

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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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-Publisher FASB
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