CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Investments:
Debt securities, available-for-sale, at fair value (amortized cost of $434,667 and $422,300, respectively)	$ 429,457	$ 423,238
Debt securities, held-to-maturity, at amortized cost	5,298	5,349
Equity securities, at fair value	16,515	15,434
Total investments (including $0 and $26,284 related to the VIE, respectively)	451,270	444,021
Cash and cash equivalents (including $0 and $14,211 related to the VIE, respectively)	55,591	86,228
Prepaid reinsurance premiums	87,201	135,492
Premiums receivable, net of allowance of $72 and $70, respectively (including $0 and $1,184 related to the VIE, respectively)	45,667	46,393
Reinsurance recoverable, net	146,091	124,601
Deferred acquisition costs	39,401	40,893
Income taxes receivable, net	4,699	9,510
Deferred income taxes, net	4,368	307
Property and equipment, net	3,797	4,025
Other assets (including $0 and $2,322 related to the VIE, respectively)	10,130	13,403
TOTAL ASSETS	848,215	904,873
LIABILITIES AND SHAREHOLDERS’ EQUITY
LIABILITIES:	236,214	230,515
Loss and loss adjustment expense reserves	282,397	294,423
Unearned premiums	38,489	71,944
Reinsurance payable	44,328	49,251
Deferred Revenue	5,924	6,222
Deferred Revenue	32,783	25,059
Deferred income taxes, net	640,135	677,414
Other liabilities
Total liabilities	0	0
SHAREHOLDERS’ EQUITY:	127	130
Preferred stock, $0.01 par value: 1,000,000 shares authorized	139,388	139,728
Common stock, $0.01 par value: 25,000,000 shares authorized; 12,718,953 and 12,988,247 shares issued and outstanding, respectively	(3,861)	1,770
Additional paid-in capital	72,426	70,009
Accumulated other comprehensive (loss) income	208,080	211,637
Retained earnings	0	15,822
Total shareholders’ equity attributable to Federated National Holding Company shareholders	208,080	227,459
Non-controlling interest	$ 848,215	$ 904,873