Subsidiary Dividend Restrictions

3 Months Ended

Mar. 31, 2017

Disclosure of Restrictions on Dividends, Loans and Advances Disclosure [Abstract]

Subsidiary Dividend Restrictions

Subsidiary Dividend Restrictions

Under the insurance regulations of Texas, where Wright Flood is incorporated, the maximum amount of ordinary dividends that Wright Flood can pay to shareholders in a rolling twelve-month period is limited to the greater of 10% of statutory adjusted capital and surplus as shown on Wright Flood’s last annual statement on file with the superintendent of the Texas Department of Insurance or 100% of adjusted net income. There was no dividend payout in 2016 and the maximum dividend payout that may be made in 2017 without prior approval is $8.2 million.