REINSURANCE (Tables)

12 Months Ended

Dec. 31, 2013

REINSURANCE [Abstract]

Summary of impact of the excess of loss reinsurance treaties

The impact of the reinsurance treaties on the financial statements is as follows.

	Years Ended December 31,
	2013			2012			2011
	(Dollars in Thousands)
Premium written
Direct and Assumed	$	243,374		$	119,459		$	98,269
Ceded		(82,709	)		(51,085	)		(46,293	)
	$	160,665		$	68,374		$	51,976
Premiums earned
Direct and Assumed	$	174,037		$	109,312		$	97,473
Ceded		(69,656	)		(49,953	)		(48,950	)
	$	104,381		$	59,359		$	48,523
Losses and LAE incurred
Direct and Assumed	$	59,820		$	33,329		$	33,055
Ceded		(3,410	)		(3,120	)		(2,159	)
	$	56,410		$	30,209		$	30,896

	As of December 31,
	2013			2012
	(Dollars in Thousands)
Unpaid losses and LAE, net
Direct and Assumed	$	61,015		$	49,908
Ceded		(2,742	)		(3,503	)
	$	58,273		$	46,405
Unearned premiums
Direct and Assumed	$	128,343		$	59,006
Ceded		(37,135	)		(24,083	)
	$	91,208		$	34,923