Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Taxes [Abstract]

U.S. Federal and state income tax expense (benefit) from operations:

	2012			2011			2010
Current	$	(5,922	)	$	(3,295	)	$	958
Deferred		6,827			1,070			(1,663	)
Change in valuation allowance		(64	)		(1,169	)		(1,377	)
Total	$	841		$	(3,394	)	$	(2,082	)

Income tax (benefit) expense differed from United States Federal income tax rate

	2012			2011			2010
Expected income tax	$	4,743		$	2,532		$	9,664
Foreign earned income not subject to direct taxation		(4,005	)		(6,076	)		(10,060	)
Change of valuation allowance		—			—			(1,377	)
Tax exempt interest		(14	)		(12	)		(32	)
State taxes and other		117			162			(277	)
Total income tax	$	841		$	(3,394	)	$	(2,082	)

Schedule of Differences between the financial statement and tax basis of assets and liabilities

	December 31, (dollars in thousands)
	2012			2011
Deferred tax assets:
Loss reserve discounting	$	6,312		$	9,322
Unearned premium reserves		6,300			4,488
Allowance for doubtful accounts		1,700			1,995
Realized capital loss carry forward		1,424			1,424
Gross deferred tax assets		15,736			17,229
Valuation allowance		—			(64	)
Gross deferred tax assets after valuation allowance		15,736			17,165
Deferred tax liabilities:
Deferred acquisition costs		7,064			3,138
Unrealized gain on securities		11,554			11,073
Depreciation		3,133			991
Other		2,752			86
Gross deferred tax liabilities		24,503			15,288
Net deferred tax assets (liabilities)	$	(8,767	)	$	1,877