$SAFT
SAFETY INSURANCE GROUP INC

2013 Q4 Form 10-Q Financial Statement

#000110465913083634 Filed on November 12, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $191.8M $187.7M $177.5M
YoY Change 5.83% 5.72% 5.65%
Cost Of Revenue $109.2M $106.4M
YoY Change 2.57% -4.57%
Gross Profit $78.51M $71.09M
YoY Change 10.45% 25.84%
Gross Profit Margin 41.83% 40.04%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.200M $3.800M $3.400M
YoY Change -66.67% 11.76% 17.24%
% of Gross Profit 4.84% 4.78%
Operating Expenses $174.7M $162.1M $156.5M
YoY Change 3.62% 3.58% -0.32%
Operating Profit -$83.59M -$85.41M
YoY Change -2.14% -15.02%
Interest Expense $0.00 $23.00K $22.00K
YoY Change 4.55% -4.35%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $17.10M $25.55M $21.01M
YoY Change 35.71% 21.6% 90.76%
Income Tax $5.400M $7.892M $6.676M
% Of Pretax Income 31.58% 30.89% 31.78%
Net Earnings $11.70M $17.66M $14.33M
YoY Change 21.88% 23.18% 62.7%
Net Earnings / Revenue 6.1% 9.41% 8.07%
Basic Earnings Per Share $0.76 $1.15 $0.94
Diluted Earnings Per Share $0.76 $1.14 $0.94
COMMON SHARES
Basic Shares Outstanding 15.39M shares 15.37M shares 15.31M shares
Diluted Shares Outstanding 15.43M shares 15.32M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $55.88M $38.31M $33.70M
Short-Term Investments
Other Short-Term Assets $15.00M
YoY Change 19.05%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $169.3M $3.600M $19.40M
YoY Change 649.12% -81.44% -21.77%
LONG-TERM ASSETS
Property, Plant & Equipment $10.66M
YoY Change 17.25%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $5.748M $1.202B $1.211B
YoY Change -99.52% -0.74% 8.6%
Other Assets $4.000M $4.200M
YoY Change
Total Long-Term Assets $1.456B $1.610B $1.574B
YoY Change -6.16% 2.31% 7.49%
TOTAL ASSETS
Total Short-Term Assets $169.3M $3.600M $19.40M
Total Long-Term Assets $1.456B $1.610B $1.574B
Total Assets $1.625B $1.614B $1.593B
YoY Change 3.25% 1.29% 7.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $79.80M $62.50M $66.90M
YoY Change 17.18% -6.58% 24.81%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $17.70M $9.600M $20.40M
YoY Change -9.69% -52.94% -12.82%
Total Long-Term Liabilities $17.70M $9.600M $20.40M
YoY Change -9.69% -52.94% -12.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $79.80M $62.50M $66.90M
Total Long-Term Liabilities $17.70M $9.600M $20.40M
Total Liabilities $930.3M $920.6M $897.0M
YoY Change 5.71% 2.63% 7.57%
SHAREHOLDERS EQUITY
Retained Earnings $567.8M $565.4M $543.0M
YoY Change 4.5% 4.12% 4.07%
Common Stock $170.6M $169.3M $161.9M
YoY Change 4.5% 4.59% 3.61%
Preferred Stock
YoY Change
Treasury Stock (at cost) $60.37M $60.37M $55.57M
YoY Change 8.64% 8.64% 0.0%
Treasury Stock Shares 1.820M shares 1.820M shares 1.729M shares
Shareholders Equity $695.2M $693.4M $696.4M
YoY Change
Total Liabilities & Shareholders Equity $1.625B $1.614B $1.593B
YoY Change 3.25% 1.29% 7.0%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $11.70M $17.66M $14.33M
YoY Change 21.88% 23.18% 62.7%
Depreciation, Depletion And Amortization $1.200M $3.800M $3.400M
YoY Change -66.67% 11.76% 17.24%
Cash From Operating Activities $45.80M $30.00M $35.40M
YoY Change 64.16% -15.25% 145.83%
INVESTING ACTIVITIES
Capital Expenditures -$1.400M -$1.500M -$1.100M
YoY Change 16.67% 36.36% 57.14%
Acquisitions
YoY Change
Other Investing Activities -$17.60M -$17.20M -$79.80M
YoY Change 9.32% -78.45% 363.95%
Cash From Investing Activities -$19.10M -$18.60M -$81.00M
YoY Change 10.4% -77.04% 350.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -9.200M -8.800M -8.600M
YoY Change 2.22% 2.33% 11.69%
NET CHANGE
Cash From Operating Activities 45.80M 30.00M 35.40M
Cash From Investing Activities -19.10M -18.60M -81.00M
Cash From Financing Activities -9.200M -8.800M -8.600M
Net Change In Cash 17.50M 2.600M -54.20M
YoY Change 993.75% -104.8% 379.65%
FREE CASH FLOW
Cash From Operating Activities $45.80M $30.00M $35.40M
Capital Expenditures -$1.400M -$1.500M -$1.100M
Free Cash Flow $47.20M $31.50M $36.50M
YoY Change 62.2% -13.7% 141.72%

Facts In Submission

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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
24025 shares
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
797000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
11478000 USD
CY2013Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
-230000 USD
CY2012Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
-53000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
-420000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
-429000 USD
us-gaap Stock Granted During Period Value Sharebased Compensation Gross
StockGrantedDuringPeriodValueSharebasedCompensationGross
167000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3409000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
984000 USD
us-gaap Dividends Common Stock
DividendsCommonStock
24441000 USD
us-gaap Stock Granted During Period Value Sharebased Compensation Gross
StockGrantedDuringPeriodValueSharebasedCompensationGross
188000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3517000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2410000 USD
us-gaap Dividends Common Stock
DividendsCommonStock
27680000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
4799000 USD
CY2011Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
656313000 USD
CY2012Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
696409000 USD
us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
6423000 USD
us-gaap Increase Decrease In Loss And Loss Adjustment Expense Reserve
IncreaseDecreaseInLossAndLossAdjustmentExpenseReserve
-14654000 USD
us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
39046000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-14212000 USD
us-gaap Increase Decrease In Reinsurance Payables
IncreaseDecreaseInReinsurancePayables
10618000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-9997000 USD
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
171967000 USD
us-gaap Payments To Acquire Available For Sale Securities Equity
PaymentsToAcquireAvailableForSaleSecuritiesEquity
39631000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
139970000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
34264000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Equity
ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
8588000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3462000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2479000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
0 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
27625000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-29945000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
650000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
19796000 USD
us-gaap Increase Decrease In Reinsurance Recoverable
IncreaseDecreaseInReinsuranceRecoverable
11865000 USD
us-gaap Increase Decrease In Prepaid Reinsurance Premiums
IncreaseDecreaseInPrepaidReinsurancePremiums
1020000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-3529000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
550000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
26190000 USD
us-gaap Increase Decrease In Reinsurance Recoverable
IncreaseDecreaseInReinsuranceRecoverable
5577000 USD
us-gaap Increase Decrease In Prepaid Reinsurance Premiums
IncreaseDecreaseInPrepaidReinsurancePremiums
990000 USD
us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
7189000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-1791000 USD
us-gaap Increase Decrease In Loss And Loss Adjustment Expense Reserve
IncreaseDecreaseInLossAndLossAdjustmentExpenseReserve
-9769000 USD
us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
41875000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-3312000 USD
us-gaap Increase Decrease In Reinsurance Payables
IncreaseDecreaseInReinsurancePayables
9539000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-1951000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1028000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
0 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
24441000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-23413000 USD
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
234335000 USD
us-gaap Payments To Acquire Available For Sale Securities Equity
PaymentsToAcquireAvailableForSaleSecuritiesEquity
8343000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
132576000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
48014000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Equity
ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
7939000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2987000 USD
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
11085000 USD
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
10691000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-32235000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-57136000 USD
us-gaap Gain Loss On Sale Of Other Investments
GainLossOnSaleOfOtherInvestments
-1199000 USD
us-gaap Gain Loss On Sale Of Other Investments
GainLossOnSaleOfOtherInvestments
-1226000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
2922000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-4193000 USD
us-gaap Increase Decrease In Interest And Dividends Receivable
IncreaseDecreaseInInterestAndDividendsReceivable
336000 USD
us-gaap Increase Decrease In Interest And Dividends Receivable
IncreaseDecreaseInInterestAndDividendsReceivable
77000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
65102000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
76356000 USD
CY2011Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
37890000 USD
CY2012Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
33697000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-3000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4799000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2013Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
4051 shares
CY2013Q3 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
56473 shares
CY2012Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
7707 shares
CY2012Q3 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
0 shares
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
33567 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
6840 shares
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
0 shares
us-gaap Investment Income Dividend
InvestmentIncomeDividend
327000 USD
us-gaap Interest And Other Income
InterestAndOtherIncome
49000 USD
us-gaap Interest Income Domestic Deposits
InterestIncomeDomesticDeposits
14000 USD
us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
31961000 USD
us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
1410000 USD
us-gaap Investment Income Net
InvestmentIncomeNet
30551000 USD
CY2013Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2012Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
87500 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
63475 shares
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
24025 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
39.24
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
-39.07
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
39.69
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
39.69
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
319000 USD
CY2013Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
319000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y2M12D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P2Y2M12D
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
2500000 shares
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
530832 shares
us-gaap Employee Service Share Based Compensation Cash Received From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationCashReceivedFromExerciseOfStockOptions
2479000 USD
us-gaap Employee Service Share Based Compensation Cash Received From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationCashReceivedFromExerciseOfStockOptions
1028000 USD
CY2013Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
7440000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
4230000 USD
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
2239000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1205000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
4284000 USD
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
2179000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1173000 USD
us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
18.50
us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
42.85
us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
13.30
us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
42.85
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
882000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
383000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y2M12D
CY2013Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
21726000 USD
CY2013Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
334177000 USD
CY2013Q3 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
215246000 USD
CY2013Q3 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
264110000 USD
CY2013Q3 us-gaap Available For Sale Securities Debt Maturities Without Single Maturity Date Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateAmortizedCost
264818000 USD
CY2013Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
22182000 USD
CY2013Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
344417000 USD
CY2013Q3 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
221005000 USD
CY2013Q3 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
266118000 USD
CY2013Q3 us-gaap Available For Sale Securities Debt Maturities Without Single Maturity Date Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue
271260000 USD
CY2013Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
10113000 USD
CY2012Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
10570000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
30846000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
31571000 USD
CY2013Q3 us-gaap Investment Income Dividend
InvestmentIncomeDividend
493000 USD
CY2012Q3 us-gaap Investment Income Dividend
InvestmentIncomeDividend
187000 USD
us-gaap Investment Income Dividend
InvestmentIncomeDividend
936000 USD
CY2013Q3 us-gaap Interest And Other Income
InterestAndOtherIncome
21000 USD
CY2012Q3 us-gaap Interest And Other Income
InterestAndOtherIncome
20000 USD
us-gaap Interest And Other Income
InterestAndOtherIncome
118000 USD
CY2013Q3 us-gaap Interest Income Domestic Deposits
InterestIncomeDomesticDeposits
1000 USD
CY2012Q3 us-gaap Interest Income Domestic Deposits
InterestIncomeDomesticDeposits
0 USD
us-gaap Interest Income Domestic Deposits
InterestIncomeDomesticDeposits
11000 USD
CY2013Q3 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
10628000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears
112635000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaid
297756000 USD
CY2013Q3 us-gaap Treasury Stock Number Of Shares Held
TreasuryStockNumberOfSharesHeld
1819547 shares
CY2013Q3 us-gaap Treasury Stock Carrying Basis
TreasuryStockCarryingBasis
60368000 USD
CY2012Q3 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
10777000 USD
us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
31911000 USD
CY2013Q3 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
605000 USD
CY2012Q3 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
635000 USD
us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
1774000 USD
CY2013Q3 us-gaap Investment Income Net
InvestmentIncomeNet
10023000 USD
CY2012Q3 us-gaap Investment Income Net
InvestmentIncomeNet
10142000 USD
us-gaap Investment Income Net
InvestmentIncomeNet
30137000 USD
CY2013Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
5533000 USD
CY2012Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
0 USD
CY2012Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
5346000 USD
CY2011Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
0 USD
CY2013Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
0 USD
CY2013Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
234000 USD
CY2013Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases Sales Issuances Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesSalesIssuancesSettlements
0 USD
CY2013Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0 USD
CY2013Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
5767000 USD
CY2012Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
0 USD
CY2012Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
0 USD
CY2012Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases Sales Issuances Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesSalesIssuancesSettlements
0 USD
CY2012Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0 USD
CY2012Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
421000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases Sales Issuances Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesSalesIssuancesSettlements
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases Sales Issuances Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesSalesIssuancesSettlements
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0 USD
CY2013Q3 us-gaap Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
0 USD
CY2012Q3 us-gaap Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
0 USD
us-gaap Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
0 USD
us-gaap Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
0 USD
CY2013Q3 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0 USD
CY2012Q3 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0 USD
CY2012Q3 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0 USD
CY2013Q3 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0 USD
CY2013Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0 USD
CY2012Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0 USD
CY2013Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0 USD
CY2012Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0 USD
CY2013Q3 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions1
AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositions1
254 pure
CY2012Q4 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions1
AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositions1
75 pure
us-gaap Schedule Of Liability For Unpaid Claims And Claims Adjustment Expense
ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
<p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:36px;">The following table sets forth a reconciliation of beginning and en</font><font style="font-family:Times New Roman;font-size:10pt;">ding reserves for losses and loss adjustment expenses (&#8220;LAE&#8221;)</font><font style="font-family:Times New Roman;font-size:10pt;">, as shown in the Company's consolidated financial state</font><font style="font-family:Times New Roman;font-size:10pt;">ments for the periods i</font><font style="font-family:Times New Roman;font-size:10pt;">ndicated.</font></p><p style='margin-top:0pt; margin-bottom:0pt'>&#160;</p><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 17px"><td style="width: 379px; text-align:left;border-color:#000000;min-width:379px;">&#160;</td><td colspan="5" style="width: 187px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:187px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 8pt;COLOR: #000000;TEXT-ALIGN: center;">Nine Months Ended September 30,</font></td></tr><tr style="height: 17px"><td style="width: 379px; 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text-align:left;border-color:#000000;min-width:379px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Incurred losses and LAE, related to:</font></td><td style="width: 11px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 77px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:77px;">&#160;</td><td style="width: 11px; text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 11px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 77px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:77px;">&#160;</td></tr><tr style="height: 17px"><td style="width: 379px; text-align:left;border-color:#000000;min-width:379px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> Current year</font></td><td style="width: 11px; text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 77px; text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">350,066</font></td><td style="width: 11px; text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 11px; text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 77px; text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">319,056</font></td></tr><tr style="height: 17px"><td style="width: 379px; text-align:left;border-color:#000000;min-width:379px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> Prior years</font></td><td style="width: 11px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 77px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">(21,762)</font></td><td style="width: 11px; text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 11px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 77px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">(11,872)</font></td></tr><tr style="height: 17px"><td style="width: 379px; text-align:left;border-color:#000000;min-width:379px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Total incurred losses and LAE</font></td><td style="width: 11px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 77px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">328,304</font></td><td style="width: 11px; 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text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 11px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 77px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:77px;">&#160;</td></tr><tr style="height: 17px"><td style="width: 379px; text-align:left;border-color:#000000;min-width:379px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> Current year</font></td><td style="width: 11px; text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 77px; text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">212,913</font></td><td style="width: 11px; text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 11px; text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 77px; text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">185,121</font></td></tr><tr style="height: 17px"><td style="width: 379px; text-align:left;border-color:#000000;min-width:379px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> Prior years</font></td><td style="width: 11px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 77px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">107,120</font></td><td style="width: 11px; text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 11px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 77px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">112,635</font></td></tr><tr style="height: 17px"><td style="width: 379px; text-align:left;border-color:#000000;min-width:379px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Total paid losses and LAE</font></td><td style="width: 11px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 77px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">320,033</font></td><td style="width: 11px; text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 11px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 77px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">297,756</font></td></tr><tr style="height: 17px"><td style="width: 379px; text-align:left;border-color:#000000;min-width:379px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Net reserves for losses and LAE at end of period</font></td><td style="width: 11px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 77px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">379,928</font></td><td style="width: 11px; text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 11px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 77px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">361,526</font></td></tr><tr style="height: 17px"><td style="width: 379px; text-align:left;border-color:#000000;min-width:379px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Plus receivable from reinsurers related to unpaid losses and LAE</font></td><td style="width: 11px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 77px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">58,568</font></td><td style="width: 11px; text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 11px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 77px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">52,115</font></td></tr><tr style="height: 17px"><td style="width: 379px; text-align:left;border-color:#000000;min-width:379px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Reserves for losses and LAE at end of period</font></td><td style="width: 11px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:left;border-color:#000000;min-width:11px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">$</font></td><td style="width: 77px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 438,496</font></td><td style="width: 11px; text-align:left;border-color:#000000;min-width:11px;">&#160;</td><td style="width: 11px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:left;border-color:#000000;min-width:11px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">$</font></td><td style="width: 77px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 413,641</font></td></tr></table></div>
CY2012Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Gross
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseGross
423842000 USD
CY2011Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Gross
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseGross
403872000 USD
CY2011Q4 us-gaap Reinsurance Recoverables
ReinsuranceRecoverables
51774000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims Current Year
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaimsCurrentYear
350066000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims Current Year
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaimsCurrentYear
319056000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims Prior Years
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaimsPriorYears
-21762000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims Prior Years
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaimsPriorYears
-11872000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims
328304000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims
307184000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidCurrentYear
212913000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears
107120000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaid
320033000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidCurrentYear
185121000 USD
CY2013Q3 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
379928000 USD
CY2012Q3 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
361526000 USD
CY2012Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
371657000 USD
CY2011Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
352098000 USD
CY2013Q3 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Gross
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseGross
438496000 USD
CY2012Q3 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Gross
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseGross
413641000 USD
CY2012Q3 us-gaap Reinsurance Recoverables
ReinsuranceRecoverables
52115000 USD
CY2013Q3 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
30000000 USD
CY2013Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
50000000 USD
CY2012Q4 us-gaap Line Of Credit Facility Amount Outstanding
LineOfCreditFacilityAmountOutstanding
0 USD
us-gaap Line Of Credit Facility Unused Capacity Commitment Fee Percentage
LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
0.0025 pure
us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2018-08-14
us-gaap Line Of Credit Facility Interest Rate Description
LineOfCreditFacilityInterestRateDescription
Loans under the credit facility bear interest at the Company&#8217;s option at either (i) the LIBOR rate plus 1.25% per annum or (ii)&#160;the higher of RBS Citizens prime rate or 0.5% above the federal funds rate plus 1.25% per annum.
CY2013Q3 us-gaap Line Of Credit Facility Amount Outstanding
LineOfCreditFacilityAmountOutstanding
0 USD
us-gaap Stock Repurchase Program Authorized Amount
StockRepurchaseProgramAuthorizedAmount
90000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
0 USD
CY2012Q4 us-gaap Treasury Stock Number Of Shares Held
TreasuryStockNumberOfSharesHeld
1728645 shares
CY2012Q4 us-gaap Treasury Stock Carrying Basis
TreasuryStockCarryingBasis
55569000 USD
CY2013Q4 us-gaap Stock Repurchase Program Authorized Amount
StockRepurchaseProgramAuthorizedAmount
150000000 USD
CY2007Q3 us-gaap Stock Repurchase Program Authorized Amount
StockRepurchaseProgramAuthorizedAmount
30000000 USD
us-gaap Related Party Transaction Description Of Transaction
RelatedPartyTransactionDescriptionOfTransaction
Mr. A. Richard Caputo, Jr., a member of the Company&#8217;s Board of Directors and the Chairman of its Investment Committee, is a principal of The Jordan Company, LP (&#8220;Jordan&#8221;). In 2012, the Company participated as a lender in two loans made by syndicates of lenders to a portfolio company in which funds managed by Jordan are controlling or a significant investor. The first loan was made to Vantage Specialties, Inc.
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
2500000 USD
us-gaap Related Party Transaction Rate
RelatedPartyTransactionRate
0.005 pure
us-gaap Related Party Transaction Date
RelatedPartyTransactionDate
2018-02-10
us-gaap Related Party Transaction Terms And Manner Of Settlement
RelatedPartyTransactionTermsAndMannerOfSettlement
The loan amortizes in equal quarterly installments of 0.25% of the principal amount per quarter. The Company made the loan on the same terms as the other lenders participating in the syndicate.

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