Selected Quarterly Financial Data Revisions to Previously issued Unaudited Quarterly Consolidated Statements of Income (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||
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Dec. 31, 2012
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Sep. 30, 2012
As Previously Reported
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Jun. 30, 2012
As Previously Reported
|
Mar. 31, 2012
As Previously Reported
|
Dec. 31, 2011
As Previously Reported
|
Sep. 30, 2011
As Previously Reported
|
Jun. 30, 2011
As Previously Reported
|
Mar. 31, 2011
As Previously Reported
|
Jun. 30, 2012
As Previously Reported
|
Jun. 30, 2011
As Previously Reported
|
Sep. 30, 2012
As Previously Reported
|
Sep. 30, 2011
As Previously Reported
|
Dec. 31, 2011
As Previously Reported
|
Dec. 31, 2010
As Previously Reported
|
Sep. 30, 2012
As Restated
|
Jun. 30, 2012
As Restated
|
Mar. 31, 2012
As Restated
|
Dec. 31, 2011
As Restated
|
Sep. 30, 2011
As Restated
|
Jun. 30, 2011
As Restated
|
Mar. 31, 2011
As Restated
|
Jun. 30, 2012
As Restated
|
Jun. 30, 2011
As Restated
|
Sep. 30, 2012
As Restated
|
Sep. 30, 2011
As Restated
|
Dec. 31, 2011
As Restated
|
Dec. 31, 2010
As Restated
|
|
Revenues | ||||||||||||||||||||||||||||||
Net premiums earned | $ 140,843 | $ 501,464 | $ 131,766 | $ 118,955 | $ 109,900 | $ 100,268 | $ 92,601 | $ 88,128 | $ 82,427 | $ 228,855 | $ 170,555 | $ 360,621 | $ 263,156 | $ 363,424 | $ 321,786 | $ 131,766 | $ 118,955 | $ 109,900 | $ 100,268 | $ 92,601 | $ 88,128 | $ 82,427 | $ 228,855 | $ 170,555 | $ 360,621 | $ 263,156 | $ 363,424 | $ 321,786 | ||
Net investment income | 18,175 | 72,363 | 17,506 | 18,297 | 18,385 | 19,734 | 19,584 | 20,306 | 20,493 | 36,682 | 40,799 | 54,188 | 60,383 | 80,117 | 83,032 | 17,506 | 18,297 | 18,385 | 19,734 | 19,584 | 20,306 | 20,493 | 36,682 | 40,799 | 54,188 | 60,383 | 80,117 | 83,032 | ||
Realized gains on investments, net | 487 | 5,048 | 1,838 | 945 | 1,778 | 18,178 | 647 | 1,102 | 234 | 2,723 | 1,336 | 4,561 | 1,983 | 20,161 | 10,137 | 1,838 | 945 | 1,778 | 18,178 | 647 | 1,102 | 234 | 2,723 | 1,336 | 4,561 | 1,983 | 20,161 | 10,137 | ||
Other income | 82 | 307 | 30 | 114 | 81 | 247 | 82 | 3 | 120 | 195 | 123 | 225 | 205 | 452 | 649 | 30 | 114 | 81 | 247 | 82 | 3 | 120 | 195 | 123 | 225 | 205 | 452 | 649 | ||
Total revenues | 159,587 | 579,182 | 151,140 | 138,311 | 130,144 | 138,427 | 112,914 | 109,539 | 103,274 | 268,455 | 212,813 | 419,595 | 325,727 | 464,154 | 415,604 | 151,140 | 138,311 | 130,144 | 138,427 | 112,914 | 109,539 | 103,274 | 268,455 | 212,813 | 419,595 | 325,727 | 464,154 | 415,604 | ||
Expenses | ||||||||||||||||||||||||||||||
Losses and loss adjustment expenses | 22,760 | 287,910 | 98,255 | 88,293 | 80,923 | 73,654 | 67,438 | 64,150 | 59,421 | 169,216 | 123,571 | 267,471 | 191,009 | 264,663 | 194,779 | 96,823 | 87,809 | 80,518 | 73,031 | 66,846 | 63,601 | 59,033 | 168,327 | 122,634 | 265,150 | 189,480 | 262,511 | 193,297 | ||
Commission expense | 18,462 | 65,580 | 14,865 | 16,147 | 13,529 | 13,134 | 10,968 | 11,119 | 10,281 | 29,676 | 21,400 | 44,541 | 32,368 | 45,502 | 38,468 | 16,681 | 16,621 | 13,816 | 13,729 | 11,520 | 11,607 | 10,488 | 30,437 | 22,095 | 47,118 | 33,615 | 47,344 | 39,280 | ||
Policyholder dividends | 687 | 3,204 | 867 | 803 | 847 | 657 | 840 | 914 | 1,012 | 1,650 | 1,926 | 2,517 | 2,766 | 3,423 | 4,316 | 867 | 803 | 847 | 657 | 840 | 914 | 1,012 | 1,650 | 1,926 | 2,517 | 2,766 | 3,423 | 4,316 | ||
Underwriting and other operating expenses | 30,505 | 121,440 | 29,280 | 29,513 | 32,142 | 23,505 | 25,334 | 26,200 | 25,678 | 61,655 | 51,878 | 90,935 | 77,212 | 100,717 | 106,026 | 29,280 | 29,513 | 32,142 | 23,505 | 25,334 | 26,200 | 25,678 | 61,655 | 51,878 | 90,935 | 77,212 | 100,717 | 106,026 | ||
Interest expense | 848 | 3,504 | 896 | 858 | 902 | 911 | 906 | 908 | 917 | 1,760 | 1,825 | 2,656 | 2,731 | 3,642 | 5,693 | 896 | 858 | 902 | 911 | 906 | 908 | 917 | 1,760 | 1,825 | 2,656 | 2,731 | 3,642 | 5,693 | ||
Total expenses | 73,262 | 481,638 | 144,163 | 135,614 | 128,343 | 111,861 | 105,486 | 103,291 | 97,309 | 263,957 | 200,600 | 408,120 | 306,086 | 417,947 | 349,282 | 144,547 | 135,604 | 128,225 | 111,833 | 105,446 | 103,230 | 97,128 | 263,829 | 200,358 | 408,376 | 305,804 | 417,637 | 348,612 | ||
Net income before income taxes | 86,325 | 97,544 | 6,977 | 2,697 | 1,801 | 26,566 | 7,428 | 6,248 | 5,965 | 4,498 | 12,213 | 11,475 | 19,641 | 46,207 | 66,322 | 6,593 | 2,707 | 1,919 | 26,594 | 7,468 | 6,309 | 6,146 | 4,626 | 12,455 | 11,219 | 19,923 | 46,517 | 66,992 | ||
Income tax (benefit) expense | (1,444) | (9,347) | (2,106) | 3,523 | (1,173) | (2,309) | (4,421) | 6,632 | (4,355) | (2,003) | (2,380) | (6,730) | (4,383) | (7,903) | (8,738) | (2,106) | 3,523 | (1,173) | (2,309) | (4,421) | 6,632 | (4,355) | (2,003) | (2,380) | (6,730) | (4,383) | (7,903) | (8,738) | (2,106) | 3,523 |
Net income | 87,769 | 106,891 | 48,623 | 63,469 | 8,150 | 5,006 | 6,222 | 19,934 | 11,783 | 8,251 | 8,345 | 11,228 | 16,596 | 19,378 | 28,379 | 48,313 | 62,799 | 7,766 | 5,016 | 6,340 | 19,962 | 11,823 | 8,312 | 8,526 | 11,356 | 16,838 | 19,122 | 28,661 | 48,623 | 63,469 |
Comprehensive income | ||||||||||||||||||||||||||||||
Unrealized gains during the period | (9,822) | 16,111 | 16,045 | 3,844 | 6,044 | 12,734 | 16,935 | 18,866 | (2,844) | 9,888 | 16,022 | 25,933 | 32,957 | 45,691 | 6,910 | 16,045 | 3,844 | 6,044 | 12,734 | 16,935 | 18,866 | (2,844) | 9,888 | 16,022 | 25,933 | 32,957 | 45,691 | 6,910 | ||
Less: reclassification adjustment for realized gains in net income | 316 | 3,281 | 1,195 | 614 | 1,156 | 11,816 | 421 | 716 | 152 | 1,771 | 868 | 2,966 | 1,289 | 13,105 | 6,589 | 1,195 | 614 | 1,156 | 11,816 | 421 | 716 | 152 | 1,771 | 868 | 2,966 | 1,289 | 13,105 | 6,589 | ||
Other comprehensive income, net of tax | (10,138) | 12,830 | 14,850 | 3,230 | 4,888 | 918 | 16,514 | 18,150 | (2,996) | 8,117 | 15,154 | 22,967 | 31,668 | 32,586 | 321 | 14,850 | 3,230 | 4,888 | 918 | 16,514 | 18,150 | (2,996) | 8,117 | 15,154 | 22,967 | 31,668 | 32,586 | 321 | ||
Total comprehensive income | 77,631 | 119,721 | 23,000 | 8,236 | 11,110 | 20,852 | 28,297 | 26,401 | 5,349 | 19,345 | 31,750 | 42,345 | 60,047 | 80,899 | 63,120 | 22,616 | 8,246 | 11,228 | 20,880 | 28,337 | 26,462 | 5,530 | 19,473 | 31,992 | 42,089 | 60,329 | 81,209 | 63,790 | ||
Earnings per common share (Note 20): | ||||||||||||||||||||||||||||||
EPS, basic | $ 2.85 | $ 3.40 | $ 0.26 | $ 0.16 | $ 0.19 | $ 0.58 | $ 0.31 | $ 0.21 | $ 0.22 | $ 0.35 | $ 0.43 | $ 0.61 | $ 0.74 | $ 1.30 | $ 1.52 | $ 0.25 | $ 0.16 | $ 0.19 | $ 0.58 | $ 0.31 | $ 0.22 | $ 0.22 | $ 0.35 | $ 0.44 | $ 0.60 | $ 0.75 | $ 1.30 | $ 1.53 | ||
EPS, diluted | $ 2.82 | $ 3.37 | $ 0.26 | $ 0.16 | $ 0.19 | $ 0.58 | $ 0.31 | $ 0.21 | $ 0.21 | $ 0.35 | $ 0.43 | $ 0.61 | $ 0.74 | $ 1.29 | $ 1.51 | $ 0.25 | $ 0.16 | $ 0.19 | $ 0.58 | $ 0.31 | $ 0.22 | $ 0.22 | $ 0.35 | $ 0.43 | $ 0.60 | $ 0.75 | $ 1.30 | $ 1.53 | ||
Cash dividends declared per common share | $ 0.06 | $ 0.24 | $ 0.06 | $ 0.06 | $ 0.06 | $ 0.06 | $ 0.06 | $ 0.06 | $ 0.06 | $ 0.12 | $ 0.12 | $ 0.18 | $ 0.18 | $ 0.24 | $ 0.24 | $ 0.06 | $ 0.06 | $ 0.06 | $ 0.06 | $ 0.06 | $ 0.06 | $ 0.06 | $ 0.12 | $ 0.12 | $ 0.18 | $ 0.18 | $ 0.24 | $ 0.24 | ||
Realized gains on investments, net | ||||||||||||||||||||||||||||||
Net realized gains on investments before credit related impairments on fixed maturity securities | 611 | 5,700 | 1,838 | 1,005 | 2,246 | 18,272 | 647 | 1,102 | 234 | 3,252 | 1,336 | 5,090 | 1,983 | 20,255 | 10,182 | 1,838 | 1,005 | 2,246 | 18,272 | 647 | 1,102 | 234 | 3,252 | 1,336 | 5,090 | 1,983 | 20,255 | 10,182 | ||
Other than temporary impairment, credit losses recognized in earnings | (124) | 652 | 0 | (60) | (468) | (94) | 0 | 0 | 0 | (529) | 0 | 529 | 0 | 94 | 45 | 0 | (60) | (468) | (94) | 0 | 0 | 0 | (529) | 0 | 529 | 0 | 94 | 45 | ||
Portion of impairment recognized in other comprehensive income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Realized gains on investments, net | $ 487 | $ 5,048 | $ 20,161 | $ 10,137 | $ 1,838 | $ 945 | $ 1,778 | $ 18,178 | $ 647 | $ 1,102 | $ 234 | $ 2,723 | $ 1,336 | $ 4,561 | $ 1,983 | $ 20,161 | $ 10,137 | $ 1,838 | $ 945 | $ 1,778 | $ 18,178 | $ 647 | $ 1,102 | $ 234 | $ 2,723 | $ 1,336 | $ 4,561 | $ 1,983 | $ 20,161 | $ 10,137 |