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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:      
Net (loss) income $ (61,833) $ 3,070 $ 338
Adjustments to reconcile net (loss) income to net cash (used in) operating activities:      
Amortization of premium or discount on fixed maturity securities 574 1,663 2,309
Net realized (gain) loss on sale of investments (324) (436) 1,575
Unrealized loss on trading securities 463 774 3,492
Unrealized loss on derivative liability - embedded conversion feature 54,621    
Equity-based compensation expense 1,129 807 401
Changes in assets and liabilities:      
Accrued investment income 241 634 588
Other assets 157 586 338
Change in cash equivalents held in trust 7,435 21,971 (16,074)
Change in restricted cash (568,993) (2,332) 25,054
Losses and loss adjustment reserves (13,884) (25,367) (38,210)
Losses payable (291) (1,821) 377
Unearned premiums (333) (300) 1,169
Accrued ceding commission expense (11) (58) (34)
Accrued interest on notes payable (102) (805) (333)
Loss contract fair market value reserve (2,926) (33,770) (5,898)
Other liabilities 904 1,803 682
Total adjustments (521,340) (36,651) (24,564)
Net cash (used in) operating activities: (583,173) (33,581) (24,226)
Cash flows from investing activities:      
Purchase of investments (269,694) (511,103) (430,983)
Proceeds from sales and maturities of investments 230,567 667,262 482,275
Net cash (used in) provided by investing activities: (39,127) 156,159 51,292
Cash flows from financing activities:      
Proceeds from issuance of preferred stock and warrants to purchase common stock 600,000 22,572  
Fees incurred and paid relating to preferred stock and warrant issuance (19,310) (3,348)  
Redeemable convertible series B preferred stock dividends paid in cash (16,998)    
Deferred offering costs   (1,497) (1,071)
Notes payable – principal repayments (10,395) (78,890) (36,294)
Notes payable – principal issued 918 4,608 5,524
Net cash provided by (used in) financing activities: 554,215 (56,555) (31,841)
(Decrease) increase in cash and cash equivalents (68,085) 66,023 (4,775)
Cash and cash equivalents, beginning of period 78,009 11,986 16,761
Cash and cash equivalents, end of period 9,924 78,009 11,986
Supplementary disclosure of cash flow information:      
Cash paid during the period, Interest 2,887 18,272 9,707
Supplementary disclosure of non-cash investing and financing activities:      
Embedded derivatives on preferred stock issuances 66,227    
Notes payable issued in lieu of cash interest payments 918 4,608 $ 5,524
Non-cash redeemable convertible series B preferred stock dividends accrued 750    
Accrued fees relating to series B preferred stock issuance $ 12,250    
Preferred deemed dividend recorded due to beneficial conversion feature   $ 9,455