Consolidated Statements Of Operations (USD $) In Thousands, except Share data | 3 Months Ended | 9 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|
Sep. 30, 2011 | Sep. 30, 2010 | Sep. 30, 2011 | Sep. 30, 2010 | |||||
| Revenues: | ||||||||
| Gross premiums written | $ 73,092 | $ 86,235 | $ 255,720 | $ 271,138 | ||||
| Net premiums written | 64,934 | 73,206 | 234,449 | 234,210 | ||||
| Net premiums earned | 77,090 | 70,089 | 231,114 | 215,579 | ||||
| Net investment income | 12,880 | 14,089 | 41,224 | 42,609 | ||||
| Net realized investment gains: | ||||||||
| Other-than-temporary impairment losses on investments | (1,824) | (15) | (3,730) | (467) | ||||
| Other-than-temporary impairment losses on investments recognized in other comprehensive income | 43 | |||||||
| Other net realized investment gains | 3,112 | 1,833 | 25,401 | 22,043 | ||||
| Total net realized investment gains | 1,288 | 1,818 | 21,671 | 21,619 | ||||
| Other income | 167 | 173 | 11,999 | 515 | ||||
| Total revenues | 91,425 | 86,169 | 306,008 | 280,322 | ||||
| Losses and Expenses: | ||||||||
| Net losses and loss adjustment expenses | 86,234 | 29,789 | 206,329 | 104,253 | ||||
| Acquisition costs and other underwriting expenses | 34,597 | 28,541 | 94,646 | 87,697 | ||||
| Corporate and other operating expenses | 2,862 | 5,106 | 10,329 | 15,065 | ||||
| Interest expense | 1,525 | 1,825 | 5,020 | 5,397 | ||||
| Income (loss) before income taxes | (33,793) | 20,908 | (10,316) | 67,910 | ||||
| Income tax expense | 454 | 1,146 | 5,758 | 4,706 | ||||
| Income (loss) before equity in net income (loss) of partnerships | (34,247) | 19,762 | (16,074) | 63,204 | ||||
| Equity in net income (loss) of partnerships, net of taxes | 53 | (29) | ||||||
| Net income (loss) | $ (34,247) | $ 19,762 | $ (16,021) | $ 63,175 | ||||
| Net Income (loss) Per Share | ||||||||
| Basic | $ (1.13) | $ 0.65 | [1] | $ (0.53) | $ 2.09 | [1] | ||
| Diluted | $ (1.13) | $ 0.65 | [1] | $ (0.53) | $ 2.09 | [1] | ||
| Weighted-average number of shares outstanding | ||||||||
| Basic | 30,338,010 | 30,273,757 | 30,320,538 | 30,222,074 | ||||
| Diluted | 30,352,850 | 30,308,489 | 30,341,713 | 30,245,890 | ||||
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- Definition Acquisition costs and other underwriting expenses
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- Definition Corporate and other operating expenses
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- Definition Equity in net income (loss) of partnerships, net of taxes
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- Definition Gross Written Premiums.
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- Definition Income before equity in net income (loss) of partnerships
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- Definition Other-than-temporary impairment losses on investments recognized in other comprehensive income
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- Details
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net gain (loss) realized from the sale, exchange, redemption, or retirement of securities, not separately or otherwise categorized as trading, available-for-sale, or held-to-maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Provision for benefits, claims and claims settlement expenses incurred during the period for property and casualty insurance net of the effects of contracts assumed and ceded. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition This item represents the total realized gain (loss) included in earnings for the period as a result of selling marketable securities categorized as trading, available-for-sale, or held-to-maturity. Additionally, this item would include any losses recognized for other than temporary impairments (OTTI) of the subject investments in debt and equity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition This element represents the amount of loss recognized for other than temporary impairments (OTTI) of investments in debt and equity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The income earned from investments in securities and property, equipment and other capital assets. It includes rent from property and equipment, dividends from shares in corporations, and interest from bonds, loans, mortgages, derivatives, commercial paper, bank accounts, certificates of deposits, treasuries, and other financial securities. It does not include realized gains and losses on investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Reflects the sum of all other revenue and income recognized by the entity in the period not otherwise specified in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Premiums earned on the income statement for all insurance and reinsurance contracts after subtracting any amounts ceded to another insurer and adding premiums assumed from other insurers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Premiums written for all insurance and reinsurance contracts, after adding premiums assumed from other insurers and subtracting any amounts ceded to another insurer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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