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Statement of Financial Position (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2012
Dec. 31, 2011
Investments:    
Fixed maturities, at fair value (amortized cost of $103,107 and $91,344, respectively) $ 102,963 $ 93,651
Equity investments, at fair value (cost of $2,689 and $2,689, respectively) 3,225 2,960
Other investments, at cost which approximates fair value 0 488
Short-term investments, at cost which approximates fair value 335 20,334
Total investments 106,523 117,433
Investment in investees 47,904 48,689
Cash and cash equivalents 63,101 85,486
Accrued investment income 2,652 1,999
Premiums receivable, net of allowance for doubtful accounts of $3,671 and 3,653, respectively 27,608 28,732
Service fee receivable 18,752 12,947
Other receivables, net of allowance for doubtful accounts of $806 and $806, respectively 5,789 6,322
Reinsurance recoverable 5,685 697
Prepaid reinsurance premiums 3,188 2,024
Deferred policy acquisition costs, net 7,634 8,116
Income taxes recoverable 7,132 8,134
Property and equipment, net of accumulated depreciation of $28,268 and $27,736 12,479 13,040
Goodwill and intangible assets 510 510
Intangible Assets, Net (Excluding Goodwill) 39,121 39,121
Other assets 1,831 831
TOTAL ASSETS 349,909 374,081
LIABILITIES    
Unpaid loss and loss adjustment expenses 99,650 120,258
Unearned premiums 41,906 39,423
Reinsurance payable 4,376 1,913
LROC preferred units 11,778 8,845
Senior unsecured debentures 27,947 28,337
Subordinated debt 20,603 16,432
Deferred income tax liability 2,653 2,653
Notes payable 2,418 2,418
Deferred revenue 13,545 11,128
Accrued expenses and other liabilities 28,437 26,269
TOTAL LIABILITIES 253,313 257,676
Common stock, no par value; unlimited number authorized; 52,595,828 and 52,345,828 issued and outstanding at March 31, 2012 and December 31, 2011, respectively 296,621 296,489
Additional paid-in capital 15,504 15,403
Accumulated deficit (218,230) (201,208)
Accumulated other comprehensive income 13,047 12,749
Shareholders' equity attributable to common shareholders 106,942 123,433
Noncontrolling interests in consolidated subsidiaries (10,346) (7,028)
TOTAL EQUITY 96,596 116,405
TOTAL LIABILITIES AND EQUITY $ 349,909 $ 374,081