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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows from operating activities:    
Net income $ 51,792 $ 27,977
Adjustments to reconcile net income to net cash used for operating activities:    
Amortization of trust preferred securities issuance costs   77
Amortization and depreciation 2,649 2,767
Restricted stock and stock option expense 2,236 3,241
Deferred federal income taxes 1,964 (1,697)
Amortization of bond premium and discount, net 5,701 4,800
Net realized investment gains (40,226) (10,204)
Changes in:    
Premiums receivable, net (12,323) (2,380)
Reinsurance receivables, net 19,694 20,076
Funds held by ceding insurers (5,100) (23,415)
Unpaid losses and loss adjustment expenses (39,535) (56,051)
Unearned premiums 11,169 33,999
Ceded balances payable (1,027) 892
Other assets and liabilities, net 317 1,409
Contingent commissions (166) (259)
Federal income tax receivable/payable (28) 3,014
Deferred acquisition costs, net (3,913) (5,913)
Prepaid reinsurance premiums (265) 718
Net cash used for operating activities (7,061) (949)
Cash flows from investing activities:    
Proceeds from sale of fixed maturities 350,179 240,658
Proceeds from sale of equity securities 181,203 55,174
Proceeds from maturity of fixed maturities 66,281 126,564
Proceeds from other invested assets 12  
Amounts paid in connection with derivatives (13,182)  
Purchases of fixed maturities (525,935) (357,494)
Purchases of equity securities (34,033) (53,104)
Purchases of other invested assets (18,475) (16)
Net cash provided by investing activities 6,050 11,782
Cash flows from financing activities:    
Net borrowings (repayments) under margin borrowing facility (37,726) 65,009
Purchase of A ordinary shares (139) (39)
Retirement of junior subordinated debentures   (10,310)
Principal payments of term debt   (54,000)
Net cash provided by (used for) financing activities (37,865) 660
Net change in cash and cash equivalents (38,876) 11,493
Cash and cash equivalents at beginning of period 105,492 104,460
Cash and cash equivalents at end of period $ 66,616 $ 115,953