2013 Form 10-K Financial Statement

#000119312514080124 Filed on March 03, 2014

View on sec.gov

Income Statement

Concept 2013 2012 Q4 2012 Q3
Revenue $301.2M $75.23M $74.54M
YoY Change 11.57% 28.81% 50.88%
Cost Of Revenue $108.6M $36.30M
YoY Change -13.93%
Gross Profit $192.5M $38.24M
YoY Change 33.94%
Gross Profit Margin 63.93% 51.3%
Selling, General & Admin $91.99M $31.60M $24.26M
YoY Change 0.87% 64.58% 29.05%
% of Gross Profit 47.78% 63.45%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.012M $200.0K $5.492M
YoY Change 20.48% 0.0% 5392.0%
% of Gross Profit 0.53% 14.36%
Operating Expenses $91.99M $65.90M $24.26M
YoY Change 0.87% 5.95% -49.66%
Operating Profit $100.6M $13.97M
YoY Change 91.32%
Interest Expense $1.200M
YoY Change 189.86%
% of Operating Profit 1.19%
Other Income/Expense, Net
YoY Change
Pretax Income $100.6M $9.400M $13.97M
YoY Change 91.32% -354.05% 1064.5%
Income Tax $41.58M $5.000M $5.718M
% Of Pretax Income 41.35% 53.19% 40.92%
Net Earnings $58.98M $4.406M $8.256M
YoY Change 94.57% -291.57% 725.6%
Net Earnings / Revenue 19.58% 5.86% 11.08%
Basic Earnings Per Share $1.64 $0.11 $0.21
Diluted Earnings Per Share $1.56 $0.11 $0.20
COMMON SHARES
Basic Shares Outstanding 35.87M 39.68M shares
Diluted Shares Outstanding 37.78M 40.45M shares

Balance Sheet

Concept 2013 2012 Q4 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $432.4M
YoY Change
Cash & Equivalents $347.4M $365.7M
Short-Term Investments $85.04M
Other Short-Term Assets $239.9M $248.9M
YoY Change -1.32% -0.96%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $244.5M $252.5M
YoY Change -0.53% -0.67%
LONG-TERM ASSETS
Property, Plant & Equipment $9.300M $8.968M $8.800M
YoY Change 3.33% 26.31% 33.33%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $467.2M $90.10M $54.60M
YoY Change 7.9% -17.26% -65.68%
Other Assets $14.70M $52.20M $111.3M
YoY Change -71.84% -48.47% 361.83%
Total Long-Term Assets $681.2M $727.4M
YoY Change 5.1% 2.06%
TOTAL ASSETS
Total Short-Term Assets $244.5M $252.5M
Total Long-Term Assets $681.2M $727.4M
Total Assets $920.1M $925.7M $979.9M
YoY Change -0.6% 3.55% 1.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $34.40M $28.10M $28.10M
YoY Change 22.42% 13.31% 26.01%
Deferred Revenue
YoY Change
Short-Term Debt $14.90M $26.00M $29.20M
YoY Change -42.69% 1.96% -16.33%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $55.30M $59.20M $64.90M
YoY Change -8.44% -12.17% -19.98%
LONG-TERM LIABILITIES
Long-Term Debt $37.20M $20.20M $20.60M
YoY Change 84.16% -6.91% -6.79%
Other Long-Term Liabilities $23.00M $16.30M $23.20M
YoY Change 53.33% -20.49% -40.97%
Total Long-Term Liabilities $60.20M $36.50M $43.80M
YoY Change 71.02% -13.51% -28.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $55.30M $59.20M $64.90M
Total Long-Term Liabilities $60.20M $36.50M $43.80M
Total Liabilities $744.5M $762.2M $813.9M
YoY Change -2.32% 2.45% 0.48%
SHAREHOLDERS EQUITY
Retained Earnings $127.5M
YoY Change
Common Stock $419.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.101M
YoY Change
Treasury Stock Shares 1.018M shares
Shareholders Equity $175.6M $163.5M $166.0M
YoY Change
Total Liabilities & Shareholders Equity $920.1M $925.7M $979.9M
YoY Change -0.6% 3.55% 1.34%

Cashflow Statement

Concept 2013 2012 Q4 2012 Q3
OPERATING ACTIVITIES
Net Income $58.98M $4.406M $8.256M
YoY Change 94.57% -291.57% 725.6%
Depreciation, Depletion And Amortization $1.012M $200.0K $5.492M
YoY Change 20.48% 0.0% 5392.0%
Cash From Operating Activities $157.0M -$2.400M $13.10M
YoY Change 10.14% -79.66% -118.42%
INVESTING ACTIVITIES
Capital Expenditures $1.350M -$300.0K -$200.0K
YoY Change -50.48% -62.5% -66.67%
Acquisitions
YoY Change
Other Investing Activities -$351.3M $0.00 $0.00
YoY Change
Cash From Investing Activities -$352.7M -$400.0K -$100.0K
YoY Change 12972.02% -50.0% -80.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $32.37M
YoY Change -15735.75%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -34.39M -15.50M -3.700M
YoY Change 55.62% -26.19% -131.09%
NET CHANGE
Cash From Operating Activities 157.0M -2.400M 13.10M
Cash From Investing Activities -352.7M -400.0K -100.0K
Cash From Financing Activities -34.39M -15.50M -3.700M
Net Change In Cash -230.1M -18.30M 9.300M
YoY Change -295.5% -45.54% -115.58%
FREE CASH FLOW
Cash From Operating Activities $157.0M -$2.400M $13.10M
Capital Expenditures $1.350M -$300.0K -$200.0K
Free Cash Flow $155.6M -$2.100M $13.30M
YoY Change 11.32% -80.91% -118.87%

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CY2013Q4 us-gaap Stockholders Equity
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CY2013Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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CY2013Q4 us-gaap Statutory Accounting Practices Statutory Capital And Surplus Balance
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CY2013Q4 us-gaap Unearned Premiums
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CY2013Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2013Q4 us-gaap Common Stock Value
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CY2013Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
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CY2013Q4 us-gaap Premiums Receivable At Carrying Value
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CY2013Q4 us-gaap Reinsurance Recoverables
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CY2013Q4 us-gaap Investment Owned At Fair Value
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CY2013Q4 us-gaap Reinsurance Receivables Paid Losses Recoverable
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203000
CY2013Q4 us-gaap Assets
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CY2013Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
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CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
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CY2013Q4 us-gaap Income Tax Receivable
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CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2013Q4 us-gaap Deferred Tax Assets Capital Loss Carryforwards
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CY2013Q4 us-gaap Deferred Tax Assets Liabilities Net
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CY2013Q4 us-gaap Reinsurance Recoverables On Paid Losses
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CY2013Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
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CY2013Q4 us-gaap Money Market Funds At Carrying Value
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CY2013Q4 us-gaap Investment Owned At Cost
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CY2013Q4 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
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CY2013Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
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CY2013Q4 us-gaap Property Plant And Equipment Gross
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CY2013Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
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CY2013Q4 us-gaap Prepaid Reinsurance Premiums
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CY2013Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Unearned Premiums Reserve
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CY2013Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
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191522000
CY2013Q4 us-gaap Available For Sale Securities
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CY2013Q4 us-gaap Deferred Tax Assets Regulatory Assets And Liabilities
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1742000
CY2013Q4 us-gaap Deferred Policy Acquisition Costs Net
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CY2013Q4 us-gaap Investment Owned Balance Principal Amount
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CY2013Q4 us-gaap Deferred Tax Assets Investments
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CY2013Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Loss Reserves
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CY2013Q4 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
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CY2013Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
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CY2013Q4 us-gaap Other Assets
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CY2013Q4 us-gaap Available For Sale Securities Equity Securities
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CY2013Q4 us-gaap Other Receivables
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CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
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CY2013Q4 us-gaap Available For Sale Securities Debt Securities
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CY2013Q4 us-gaap Cash
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CY2013Q4 us-gaap Deferred Tax Assets Unrealized Losses On Trading Securities
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CY2013Q4 us-gaap Treasury Stock Value
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CY2013Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
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CY2013Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
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4588000
CY2013Q4 us-gaap Property Plant And Equipment Net
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CY2013Q4 uve Unsecured Amounts Due From Reinsurers Exceeding Fixed Percentage Of Stockholders Equity
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CY2013Q4 uve Dividend Payment Restrictions
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CY2013Q4 uve Area Of Leased Facility
AreaOfLeasedFacility
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CY2013Q4 uve Number Of States For Offering Primary Product
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CY2013Q4 uve Available For Sale Securities Continuous Unrealized Loss Position Longer Than Twelve Months Number Of Securities
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CY2013Q4 uve Restricted Cash And Cash Equivalents Percentage By Institution
RestrictedCashAndCashEquivalentsPercentageByInstitution
1.000 pure
CY2013Q4 uve Premium Deficiency Accruals
PremiumDeficiencyAccruals
0
CY2013Q4 uve Deferred Reinsurance Ceding Commissions Net
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38200000
CY2013Q4 uve Cash And Cash Equivalents Percentage By Institution
CashAndCashEquivalentsPercentageByInstitution
1.000 pure
CY2013Q4 uve Book Overdraft
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14947000
CY2013Q4 uve Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Number Of Securities
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95 Security
CY2013Q4 uve Deferred Policy Acquisition Costs And Deferred Reinsurance Ceding Commissions Gross
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54099000
CY2013Q4 uve In Force Policyholder Coverage For Windstorm Exposures
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CY2013Q4 uve Addition Of Reinsurance Recoverable
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68584000
CY2013Q4 uve Deferred Tax Assets Tax Deferred Expense Regulatory Assessment
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345000
CY2013Q4 uve Reinsurance Unsecured Amounts Due From Reinsurers
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CY2013Q4 uve Reinsurance Recoverables And Receivables
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108050000
CY2013Q4 uve Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Aggregate Losses Accumulated In Investments
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4153000
CY2013Q4 uve Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Aggregate Losses Accumulated In Investments
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CY2013Q4 uve Lease Agreement Purchase Of Property Latest Time Period
LeaseAgreementPurchaseOfPropertyLatestTimePeriod
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CY2013Q4 uve Agreed Purchase Price Of Property
AgreedPurchasePriceOfProperty
5990000
CY2013Q4 uve Long Term Debt Including Unamortized Discount
LongTermDebtIncludingUnamortizedDiscount
38750000
uve Percentage Of Premium Ceded
PercentageOfPremiumCeded
0.50 pure
CY2011Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Rights
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRights
(i) one third on the six (6) month anniversary of the date of grant, (ii) one third on the one (1) year anniversary of the date of grant, and (iii) one third on the two (2) year anniversary of the date of grant.
CY2011Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Expiration Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate
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CY2008Q2 us-gaap Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
0.045 pure
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Expiration Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate
2019-09-04
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Expiration Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate
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CY2011 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.50
CY2011 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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CY2011 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2011 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.350 pure
CY2011 us-gaap Earnings Per Share Basic
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0.51
CY2011 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.404 pure
CY2011 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.011 pure
CY2011 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
770000 shares
CY2011 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Meals And Entertainment
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseMealsAndEntertainment
0.006 pure
CY2011 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
112584000
CY2011 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39184000 shares
CY2011 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
488000 shares
CY2011 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.036 pure
CY2011 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2011 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.023 pure
CY2011 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
1532000
CY2011 us-gaap Revenues
Revenues
225861000
CY2011 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
20109000
CY2011 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
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CY2011 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
19081000
CY2011 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
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CY2011 us-gaap Other Comprehensive Income Other Net Of Tax
OtherComprehensiveIncomeOtherNetOfTax
0
CY2011 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
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CY2011 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
20089000
CY2011 us-gaap Increase Decrease In Loss And Loss Adjustment Expense Reserve
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CY2011 us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
49000000
CY2011 us-gaap Increase Decrease In Premiums Receivable
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2855000
CY2011 us-gaap Increase Decrease In Deferred Income Taxes
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9543000
CY2011 us-gaap Payments For Purchase Of Securities Operating Activities
PaymentsForPurchaseOfSecuritiesOperatingActivities
801704000
CY2011 us-gaap Increase Decrease In Reinsurance Recoverable
IncreaseDecreaseInReinsuranceRecoverable
6154000
CY2011 us-gaap Repayments Of Debt
RepaymentsOfDebt
1471000
CY2011 us-gaap Premiums Written Net
PremiumsWrittenNet
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CY2011 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2011 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
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CY2011 us-gaap Increase Decrease In Income Taxes Receivable
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CY2011 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
CY2011 us-gaap Assets Disposed Of By Method Other Than Sale In Period Of Disposition Gain Loss On Disposition1
AssetsDisposedOfByMethodOtherThanSaleInPeriodOfDispositionGainLossOnDisposition1
17000
CY2011 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
726000
CY2011 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
195000
CY2011 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims Current Year
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaimsCurrentYear
112838000
CY2011 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
17000
CY2011 us-gaap Fees And Commissions Other
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15298000
CY2011 us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
3550000
CY2011 us-gaap Direct Premiums Written
DirectPremiumsWritten
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CY2011 us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
19507000
CY2011 us-gaap Direct Premiums Earned
DirectPremiumsEarned
689955000
CY2011 us-gaap Interest Paid
InterestPaid
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CY2011 us-gaap Premiums Earned Net
PremiumsEarnedNet
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CY2011 us-gaap Net Realized Or Unrealized Gain Loss On Trading Securities
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CY2011 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Ceded
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CY2011 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
33718000
CY2011 us-gaap Increase Decrease In Prepaid Reinsurance Premiums
IncreaseDecreaseInPrepaidReinsurancePremiums
22009000
CY2011 us-gaap Other Income
OtherIncome
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CY2011 us-gaap Net Income Loss
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CY2011 us-gaap Accretion Amortization Of Discounts And Premiums Investments
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CY2011 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
20000
CY2011 us-gaap Payments To Acquire Available For Sale Securities Equity
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CY2011 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2849000
CY2011 us-gaap Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
2350000
CY2011 us-gaap Increase Decrease In Accrued Investment Income Receivable
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CY2011 us-gaap Payments For Repurchase Of Common Stock
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CY2011 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims Prior Years
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaimsPriorYears
11471000
CY2011 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
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195000
CY2011 us-gaap Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions
195000
CY2011 us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
64372000
CY2011 us-gaap Net Investment Income
NetInvestmentIncome
788000
CY2011 us-gaap Increase Decrease In Contract Receivables Net
IncreaseDecreaseInContractReceivablesNet
17598000
CY2011 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2395000
CY2011 us-gaap Increase Decrease In Unearned Premiums Net
IncreaseDecreaseInUnearnedPremiumsNet
-9498000
CY2011 us-gaap Increase Decrease In Reinsurance Payables
IncreaseDecreaseInReinsurancePayables
11944000
CY2011 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
542000
CY2011 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaid
104910000
CY2011 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
695000
CY2011 us-gaap Ceded Premiums Written
CededPremiumsWritten
512979000
CY2011 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-14213000
CY2011 us-gaap Proceeds From Contributions From Parent
ProceedsFromContributionsFromParent
49000000
CY2011 us-gaap Policyholder Benefits And Claims Incurred Gross
PolicyholderBenefitsAndClaimsIncurredGross
245335000
CY2011 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
1630000
CY2011 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-9543000
CY2011 us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
31508000
CY2011 us-gaap Deferred Policy Acquisition Costs Additions
DeferredPolicyAcquisitionCostsAdditions
25028000
CY2011 us-gaap Transfer To Investments
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CY2011 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
124309000
CY2011 us-gaap Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
89300000
CY2011 us-gaap Increase Decrease In Book Overdrafts
IncreaseDecreaseInBookOverdrafts
2455000
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
507000
CY2011 us-gaap Proceeds From Sale Of Securities Operating Activities
ProceedsFromSaleOfSecuritiesOperatingActivities
921625000
CY2011 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
653000
CY2011 us-gaap Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
64000
CY2011 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
96040000
CY2011 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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0
CY2011 us-gaap Interest Expense
InterestExpense
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CY2011 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
4653000
CY2011 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
547000
CY2011 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
5000
CY2011 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2011 us-gaap Accretion Expense
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CY2011 us-gaap Debt Instrument Periodic Payment Principal
DebtInstrumentPeriodicPaymentPrincipal
1500000
CY2011 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
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CY2011 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2011 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
874000
CY2011 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
195000
CY2011 us-gaap Ceded Premiums Earned
CededPremiumsEarned
490970000
CY2011 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
23152000
CY2011 us-gaap Depreciation
Depreciation
639000
CY2011 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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CY2011 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2848000
CY2011 us-gaap Dividends Cash
DividendsCash
12770000
CY2011 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
451000
CY2011 us-gaap Increase Decrease In Customer Advances And Deposits
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-450000
CY2011 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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CY2011 us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
21477000
CY2011 us-gaap Treasury Stock Retired Cost Method Amount
TreasuryStockRetiredCostMethodAmount
-262000
CY2011 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
CY2011 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
20000
CY2011 us-gaap Proceeds From Sale Of Available For Sale Securities Equity
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CY2011 us-gaap Selling General And Administrative Expense
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67834000
CY2011 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13609000
CY2011 uve Cash Received For Strike Price And Tax Withholdings
CashReceivedForStrikePriceAndTaxWithholdings
204000
CY2011 uve Deferred Policy Acquisition Costs Net Difference Percentage
DeferredPolicyAcquisitionCostsNetDifferencePercentage
0.13 pure
CY2011 uve Weighted Average Number Of Anti Dilutive Shares
WeightedAverageNumberOfAntiDilutiveShares
2553000 shares
CY2011 uve Shares Acquired Through Cashless Exercise
SharesAcquiredThroughCashlessExercise
70000 shares
CY2011 uve Deferred Policy Acquisition Costs And Deferred Reinsurance Ceding Commissions Amortization Expense Gross
DeferredPolicyAcquisitionCostsAndDeferredReinsuranceCedingCommissionsAmortizationExpenseGross
107003000
CY2011 uve Effective Income Tax Rate Reconciliation Non Deductible Fines And Penalties
EffectiveIncomeTaxRateReconciliationNonDeductibleFinesAndPenalties
pure
CY2011 uve Deferred Policy Acquisition Costs And Deferred Reinsurance Ceding Commissions Capitalized Costs Gross
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114358000
CY2011 uve Deferred Reinsurance Ceding Commissions Earned Ceding Commissions
DeferredReinsuranceCedingCommissionsEarnedCedingCommissions
85526000
CY2011 uve Deferred Reinsurance Ceding Commissions Ceding Commissions Written
DeferredReinsuranceCedingCommissionsCedingCommissionsWritten
89330000
CY2011 uve Value Of Shares Acquired
ValueOfSharesAcquired
263000
CY2011 uve Effective Income Tax Rate Reconciliation True Up To Prior Year Tax Returns
EffectiveIncomeTaxRateReconciliationTrueUpToPriorYearTaxReturns
pure
CY2011 uve Marketable Securities Realized Gain Loss Trading Portfolio
MarketableSecuritiesRealizedGainLossTradingPortfolio
2350000
CY2011 uve Marketable Securities Unrealized Gain Loss Trading Portfolio
MarketableSecuritiesUnrealizedGainLossTradingPortfolio
-18410000
CY2013 dei Entity Registrant Name
EntityRegistrantName
UNIVERSAL INSURANCE HOLDINGS, INC.
CY2013 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2013 dei Amendment Flag
AmendmentFlag
false
CY2013 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2013 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
CY2013 dei Document Type
DocumentType
10-K
CY2013 dei Document Period End Date
DocumentPeriodEndDate
2013-12-31
CY2013 dei Entity Central Index Key
EntityCentralIndexKey
0000891166
CY2013 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2013 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2013 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2013 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
1000000 shares
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P2Y5M5D
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
3.90
CY2013 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.56
CY2013 us-gaap Dividend Payment Restrictions Schedule Description
DividendPaymentRestrictionsScheduleDescription
The maximum dividend that may be paid by UPCIC and APPCIC to their immediate parent company, Universal Insurance Holding Company of Florida ("UIHCF"), without prior approval is limited to the lesser of statutory net income from operations of the preceding calendar year or 10.0% of statutory unassigned surplus as of the preceding year end.
CY2013 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.49
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
-850000 shares
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37776000 shares
CY2013 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350 pure
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
7.33
CY2013 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.64
CY2013 us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
0 shares
CY2013 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.05 pure
CY2013 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2026-12-31
CY2013 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.413 pure
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
4.64
CY2013 us-gaap Defined Contribution Plan Employers Matching Contribution Annual Vesting Percentage
DefinedContributionPlanEmployersMatchingContributionAnnualVestingPercentage
1.00 pure
CY2013 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
156959000
CY2013 us-gaap Revenue Recognition Services Commissions
RevenueRecognitionServicesCommissions
<p><em>Recognition of Commission Revenue and Policy Fees</em>.&#xA0;Commission revenue generated from agency operations and the Managing General Agent (MGA)&#x2019;s policy fee on all new and renewal insurance policies are recognized as income upon policy inception.&#xA0;Brokerage commission revenue earned on ceded reinsurance is recognized over the term of the reinsurance agreements.</p>
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.54
CY2013 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.002 pure
CY2013 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1531000 shares
CY2013 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Meals And Entertainment
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseMealsAndEntertainment
0.004 pure
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
4.06
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2015000 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.43
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35866000 shares
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P3Y10M10D
CY2013 us-gaap Deferred Policy Acquisition Costs Text Block1
DeferredPolicyAcquisitionCostsTextBlock1
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt"> <i>Deferred Policy Acquisition Costs</i>. Certain costs incurred in connection with the successful acquisition and renewal of insurance business are deferred and amortized over the terms of the policies to which they are related. A portion of reinsurance ceding commissions received are deferred and amortized over the effective period of the related insurance policies. Deferred policy acquisition costs and deferred ceding commissions are netted for balance sheet presentation purposes.</p> </div>
CY2013 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
-2330000 shares
CY2013 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> <i>Concentrations of Credit Risk.</i> The Company is exposed to concentrations of credit risk, consisting principally of cash and cash equivalents, restricted cash and cash equivalents, debt securities, premiums receivable, prepaid reinsurance premiums, reinsurance receivable and reinsurance recoverable.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> The Company maintains depository relationships with SunTrust Bank, Wells Fargo Bank N.A., Deutsche Bank Securities, Inc., and State Street Bank and Trust Company and invests excess cash with custodial institutions that invest primarily in money market accounts consisting of or collateralized by short-term U.S. Treasury securities and other U.S. government guaranteed securities. These accounts are held primarily by SunTrust Bank, Deutsche Bank Securities, Inc., and State Street Bank and Trust Company. The Company regularly evaluates the financial strength of the institutions with which it maintains depository relationships.</p> <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 18px"> &#xA0;</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt"> The following table presents current ratings for each of these financial institutions from various rating agencies:</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="76%" align="center" border="0"><!-- Begin Table Head --> <tr> <td width="77%"></td> <td valign="bottom" width="7%"></td> <td></td> <td valign="bottom" width="7%"></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="3" align="center">Current Ratings</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom" nowrap="nowrap"> <p style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-BOTTOM: rgb(0,0,0) 1pt solid; WIDTH: 35.9pt"> <b>Institution</b></p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" align="center">Standard&#xA0;and<br /> Poor&#x2019;s&#xA0;Rating</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" align="center">Moody&#x2019;s<br /> Investors</td> </tr> <!-- End Table Head --><!-- Begin Table Body --> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Sun Trust Bank</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" align="center">BBB+</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" align="center">A3</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Wells Fargo Bank N.A.</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" align="center">AA-</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" align="center">Aa3</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Deutsche Bank Securities, Inc.</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" align="center">A</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" align="center">A2</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> State Street Bank and Trust Company</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" align="center">AA-</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" align="center">Aa3</td> </tr> <!-- End Table Body --></table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> The following table presents the amount of cash and cash equivalents as of the periods presented (in thousands):</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><!-- Begin Table Head --> <tr> <td width="46%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="30" align="center">Cash and cash equivalents</td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="14" align="center">As of December&#xA0;31, 2013</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="14" align="center">As of December&#xA0;31, 2012</td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom" nowrap="nowrap"> <p style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-BOTTOM: rgb(0,0,0) 1pt solid; WIDTH: 32.75pt"> Institution</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">Cash</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">Money<br /> Market&#xA0;Funds</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">Total</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">% by<br /> institution</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">Cash</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">Money<br /> Market&#xA0;Funds</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">Total</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">% by<br /> institution</td> <td valign="bottom">&#xA0;</td> </tr> <!-- End Table Head --><!-- Begin Table Body --> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> U. S. Bank IT&amp;C</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">$</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">40,463</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">40,463</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">11.6</td> <td valign="bottom" nowrap="nowrap">%&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> SunTrust Bank</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">931</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">3,550</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">4,481</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">3.8</td> <td valign="bottom" nowrap="nowrap">%&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">773</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1,055</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1,828</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">0.5</td> <td valign="bottom" nowrap="nowrap">%&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> SunTrust Bank Escrow Services</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">56,129</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">56,129</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">47.9</td> <td valign="bottom" nowrap="nowrap">%&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">300,843</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">300,843</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">86.6</td> <td valign="bottom" nowrap="nowrap">%&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Wells Fargo Bank N.A.</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">3,631</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">3,631</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">3.1</td> <td valign="bottom" nowrap="nowrap">%&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1,991</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">3</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1,994</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">0.6</td> <td valign="bottom" nowrap="nowrap">%&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Deutsche Bank Securities, Inc.</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">33,041</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">33,041</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">28.2</td> <td valign="bottom" nowrap="nowrap">%&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> State Street Bank and Trust Company</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">19,993</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">19,993</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">17.0</td> <td valign="bottom" nowrap="nowrap">%&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> All Other Banking Institutions</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1,796</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">468</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">2,264</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">0.7</td> <td valign="bottom" nowrap="nowrap">%&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Total</p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">$</td> <td valign="bottom" align="right">4,562</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">$</td> <td valign="bottom" align="right">112,713</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">$</td> <td valign="bottom" align="right">117,275</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">100.0</td> <td valign="bottom" nowrap="nowrap">%&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;</font></td> <td valign="bottom">$</td> <td valign="bottom" align="right">4,560</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">$</td> <td valign="bottom" align="right">342,832</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">$</td> <td valign="bottom" align="right">347,392</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">100.0</td> <td valign="bottom" nowrap="nowrap">%&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <!-- End Table Body --></table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> Restricted cash and cash equivalents are maintained in money market accounts consisting of U.S. Treasury and government agency securities.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> The following table presents the amount of restricted cash and cash equivalents as of the periods presented (in thousands):</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="92%" align="center" border="0"><!-- Begin Table Head --> <tr> <td width="65%"></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="14" align="center">Restricted cash and cash equivalents</td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="6" align="center"> As&#xA0;of&#xA0;December&#xA0;31,&#xA0;2013</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="6" align="center"> As&#xA0;of&#xA0;December&#xA0;31,&#xA0;2012</td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom" nowrap="nowrap"> <p style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-BOTTOM: rgb(0,0,0) 1pt solid; WIDTH: 32.75pt"> Institution</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">State<br /> Deposits</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">% by<br /> institution</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">State<br /> Deposits</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">% by<br /> institution</td> <td valign="bottom">&#xA0;</td> </tr> <!-- End Table Head --><!-- Begin Table Body --> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> U. S. Bank IT&amp;C</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">800</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">30.8</td> <td valign="bottom" nowrap="nowrap">%&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">800</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">2.4</td> <td valign="bottom" nowrap="nowrap">%&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Florida Department of Financial Services</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1,800</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">69.2</td> <td valign="bottom" nowrap="nowrap">%&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">32,209</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">97.6</td> <td valign="bottom" nowrap="nowrap">%&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Total</p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,600</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">100.0</td> <td valign="bottom" nowrap="nowrap">%&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;</font></td> <td valign="bottom">$</td> <td valign="bottom" align="right">33,009</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">100.0</td> <td valign="bottom" nowrap="nowrap">%&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <!-- End Table Body --></table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> Concentrations of credit risk with respect to premiums receivable are limited due to the large number of individuals comprising the Company&#x2019;s customer base. However, the majority of the Company&#x2019;s revenues are currently derived from products and services offered to customers in Florida, which could be adversely affected by economic downturns, an increase in competition or other environmental changes.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> In order to reduce credit risk for amounts due from reinsurers, the Insurance Entities seek to do business with financially sound reinsurance companies and regularly evaluate the financial strength of all reinsurers used.</p> <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px"> &#xA0;</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt"> The following table presents current ratings from rating agencies and the unsecured amounts due from the Company&#x2019;s reinsurers whose aggregate balance exceeded 3% of the Company&#x2019;s stockholders&#x2019; equity as of the periods presented (in thousands):</p> <p style="MARGIN-BOTTOM: 0pt; 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FONT-FAMILY: Times New Roman; BORDER-BOTTOM: rgb(0,0,0) 1pt solid; WIDTH: 34.2pt"> <b>Reinsurer</b></p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" align="center">AM Best<br /> Company</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" align="center">Standard&#xA0;and<br /> Poor&#x2019;s&#xA0;Rating</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" align="center">Moody&#x2019;s<br /> Investors</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">December&#xA0;31,<br /> 2013</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">December&#xA0;31,<br /> 2012</td> <td valign="bottom">&#xA0;</td> </tr> <!-- End Table Head --><!-- Begin Table Body --> <tr style="FONT-SIZE: 10pt; 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CY2013 us-gaap Policyholder Benefits And Claims Incurred Gross
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CY2013 us-gaap Increase Decrease In Other Accrued Liabilities
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CY2013 us-gaap Deferred Income Tax Expense Benefit
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CY2013 us-gaap Increase Decrease In Unearned Premiums
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CY2013 us-gaap Deferred Policy Acquisition Costs Additions
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CY2013 us-gaap Transfer To Investments
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CY2013 us-gaap Treasury Stock Value Acquired Cost Method
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CY2013 us-gaap Policyholder Benefits And Claims Incurred Net
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CY2013 us-gaap Proceeds From Contributions From Affiliates
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CY2013 us-gaap Increase Decrease In Book Overdrafts
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CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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CY2013 us-gaap Proceeds From Sale Of Securities Operating Activities
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CY2013 us-gaap Provision For Doubtful Accounts
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CY2013 us-gaap Proceeds From Sale Of Property Held For Sale
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CY2013 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2013 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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CY2013 us-gaap Interest Expense
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CY2013 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2013 us-gaap Increase Decrease In Accounts Payable
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CY2013 us-gaap Proceeds From Issuance Of Common Stock
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CY2013 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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CY2013 us-gaap Net Cash Provided By Used In Investing Activities
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CY2013 us-gaap Available For Sale Securities Income Tax Expense On Change In Unrealized Holding Gain Or Loss
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CY2013 us-gaap Accretion Expense
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CY2013 us-gaap Debt Instrument Periodic Payment Principal
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CY2013 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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CY2013 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year
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CY2013 us-gaap Available For Sale Securities Gross Realized Losses
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CY2013 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years
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CY2013 us-gaap Benefits Losses And Expenses
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CY2013 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2013 us-gaap Deferred Income Taxes And Tax Credits
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CY2013 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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CY2013 us-gaap Ceded Premiums Earned
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CY2013 us-gaap Current Income Tax Expense Benefit
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CY2013 us-gaap Depreciation
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CY2013 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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CY2013 us-gaap Allocated Share Based Compensation Expense
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CY2013 us-gaap Dividends Cash
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CY2013 us-gaap Lease And Rental Expense
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423000
CY2013 us-gaap Increase Decrease In Customer Advances And Deposits
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CY2013 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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CY2013 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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CY2013 us-gaap Deferred Policy Acquisition Cost Amortization Expense
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CY2013 us-gaap Available For Sale Securities Gross Unrealized Loss
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CY2013 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
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CY2013 us-gaap Amortization Of Debt Discount Premium
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CY2013 us-gaap Preferred Stock Dividends Income Statement Impact
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CY2013 us-gaap Proceeds From Sale Of Available For Sale Securities Equity
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15542000
CY2013 us-gaap Selling General And Administrative Expense
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CY2013 us-gaap Income Tax Expense Benefit
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CY2013 uve Percentage Of Premium Ceded
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CY2013 uve Cash Received For Strike Price And Tax Withholdings
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CY2013 uve Weighted Average Number Of Anti Dilutive Shares
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CY2013 uve Agreed Monthly Lease Rent
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CY2013 uve Lease Agreement Term Subject To Property Purchase
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CY2013 uve Shares Acquired Through Cashless Exercise
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CY2013 uve Deferred Policy Acquisition Costs And Deferred Reinsurance Ceding Commissions Amortization Expense Gross
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CY2013 uve Minimum Surplus Amount Under Amended Agreement
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50000000
CY2013 uve Net Direct Premiums Generated In Florida
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CY2013 uve Maximum Amortization Period For Capitalized Cost
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CY2013 uve Percentage Of Assessment For Member Companies
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0.009 pure
CY2013 uve Effective Income Tax Rate Reconciliation Non Deductible Fines And Penalties
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0.004 pure
CY2013 uve Maximum Maturity Period Of Highly Liquid Investments
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CY2013 uve Description Of Terms Under T Twenty Five Replacement Contract
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2700000
CY2013 uve Reinsurance Recoverables Less
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CY2013 uve Deferred Policy Acquisition Costs And Deferred Reinsurance Ceding Commissions Capitalized Costs Gross
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109981000
CY2013 uve Percentage Of Maximum Dividend As Percentage Of Statutory Unassigned Capital Surplus
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CY2013 uve Deferred Reinsurance Ceding Commissions Earned Ceding Commissions
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88628000
CY2013 uve Deferred Reinsurance Ceding Commissions Ceding Commissions Written
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89679000
CY2013 uve Percentage Reduction Of Premium Ceded
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0.05 pure
CY2013 uve Value Of Shares Acquired
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12630000
CY2013 uve Participation In Assessment By Member Companies
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6300000
CY2013 uve Increase In Diluted Earnings Per Share Due To Treasury Stock Repurchase
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CY2013 uve Effective Income Tax Rate Reconciliation True Up To Prior Year Tax Returns
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CY2013 uve Marketable Securities Realized Gain Loss Trading Portfolio
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CY2013 uve Marketable Securities Unrealized Gain Loss Trading Portfolio
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CY2012 us-gaap Earnings Per Share Diluted
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CY2012 us-gaap Common Stock Dividends Per Share Declared
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CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2012 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.350 pure
CY2012 us-gaap Earnings Per Share Basic
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CY2012 us-gaap Conversion Of Stock Shares Converted1
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CY2012 us-gaap Effective Income Tax Rate Continuing Operations
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CY2012 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2012 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2012 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Meals And Entertainment
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0.006 pure
CY2012 us-gaap Net Cash Provided By Used In Operating Activities
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142506000
CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2012 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
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489000 shares
CY2012 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.036 pure
CY2012 us-gaap Stock Repurchased During Period Shares
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0 shares
CY2012 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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0.032 pure
CY2012 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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22000
CY2012 us-gaap Revenues
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CY2012 us-gaap Comprehensive Income Net Of Tax
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30312000
CY2012 us-gaap Increase Decrease In Other Receivables
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CY2012 us-gaap Income Taxes Paid Net
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CY2012 us-gaap Payments Of Dividends Common Stock
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CY2012 us-gaap Other Comprehensive Income Other Net Of Tax
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CY2012 us-gaap Marketable Securities Unrealized Gain Loss
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CY2012 us-gaap Net Income Loss Available To Common Stockholders Basic
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30025000
CY2012 us-gaap Increase Decrease In Loss And Loss Adjustment Expense Reserve
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CY2012 us-gaap Payments Of Distributions To Affiliates
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28600000
CY2012 us-gaap Increase Decrease In Premiums Receivable
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4589000
CY2012 us-gaap Increase Decrease In Deferred Income Taxes
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CY2012 us-gaap Payments For Purchase Of Securities Operating Activities
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CY2012 us-gaap Increase Decrease In Reinsurance Recoverable
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3485000
CY2012 us-gaap Repayments Of Debt
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1471000
CY2012 us-gaap Premiums Written Net
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CY2012 us-gaap Stock Issued During Period Value Stock Options Exercised
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CY2012 us-gaap Investment Income Interest And Dividend
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CY2012 us-gaap Increase Decrease In Income Taxes Receivable
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CY2012 us-gaap Payments To Acquire Available For Sale Securities Debt
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CY2012 us-gaap Assets Disposed Of By Method Other Than Sale In Period Of Disposition Gain Loss On Disposition1
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CY2012 us-gaap Increase Decrease In Other Operating Assets
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CY2012 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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CY2012 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims Current Year
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CY2012 us-gaap Other Noncash Income Expense
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CY2012 us-gaap Fees And Commissions Other
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CY2012 us-gaap Increase Decrease In Deferred Policy Acquisition Costs
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4286000
CY2012 us-gaap Direct Premiums Written
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CY2012 us-gaap Insurance Commissions And Fees
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20383000
CY2012 us-gaap Direct Premiums Earned
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CY2012 us-gaap Interest Paid
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CY2012 us-gaap Premiums Earned Net
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CY2012 us-gaap Net Realized Or Unrealized Gain Loss On Trading Securities
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CY2012 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Ceded
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CY2012 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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121000
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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52559000
CY2012 us-gaap Increase Decrease In Prepaid Reinsurance Premiums
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CY2012 us-gaap Other Income
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CY2012 us-gaap Net Income Loss
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CY2012 us-gaap Accretion Amortization Of Discounts And Premiums Investments
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4000
CY2012 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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287000
CY2012 us-gaap Payments To Acquire Available For Sale Securities Equity
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CY2012 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims
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126187000
CY2012 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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3829000
CY2012 us-gaap Marketable Securities Realized Gain Loss
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CY2012 us-gaap Increase Decrease In Accrued Investment Income Receivable
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CY2012 us-gaap Payments For Repurchase Of Common Stock
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6729000
CY2012 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
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CY2012 us-gaap Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
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459000
CY2012 us-gaap Increase Decrease In Restricted Cash For Operating Activities
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CY2012 us-gaap Net Investment Income
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441000
CY2012 us-gaap Increase Decrease In Contract Receivables Net
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CY2012 us-gaap Stock Issued During Period Value New Issues
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CY2012 us-gaap Payments To Acquire Property Plant And Equipment
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2726000
CY2012 us-gaap Increase Decrease In Unearned Premiums Net
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CY2012 us-gaap Increase Decrease In Reinsurance Payables
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CY2012 us-gaap Defined Contribution Plan Cost Recognized
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598000
CY2012 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid
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CY2012 us-gaap Investment Income Investment Expense
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CY2012 us-gaap Ceded Premiums Written
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CY2012 us-gaap Net Cash Provided By Used In Financing Activities
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CY2012 us-gaap Proceeds From Contributions From Parent
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28550000
CY2012 us-gaap Policyholder Benefits And Claims Incurred Gross
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3292000
CY2012 us-gaap Deferred Income Tax Expense Benefit
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3813000
CY2012 us-gaap Increase Decrease In Unearned Premiums
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CY2012 us-gaap Deferred Policy Acquisition Costs Additions
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22117000
CY2012 us-gaap Transfer To Investments
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126187000
CY2012 us-gaap Proceeds From Contributions From Affiliates
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40200000
CY2012 us-gaap Increase Decrease In Book Overdrafts
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509000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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437000
CY2012 us-gaap Proceeds From Sale Of Securities Operating Activities
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360000000
CY2012 us-gaap Provision For Doubtful Accounts
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319000
CY2012 us-gaap Proceeds From Sale Of Property Held For Sale
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28000
CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
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117707000
CY2012 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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0
CY2012 us-gaap Interest Expense
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CY2012 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2012 us-gaap Increase Decrease In Accounts Payable
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54000
CY2012 us-gaap Proceeds From Issuance Of Common Stock
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CY2012 us-gaap Net Cash Provided By Used In Investing Activities
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CY2012 us-gaap Accretion Expense
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CY2012 us-gaap Debt Instrument Periodic Payment Principal
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1500000
CY2012 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year
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CY2012 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years
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59433000
CY2012 us-gaap Benefits Losses And Expenses
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217380000
CY2012 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2012 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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CY2012 us-gaap Ceded Premiums Earned
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CY2012 us-gaap Current Income Tax Expense Benefit
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CY2012 us-gaap Depreciation
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840000
CY2012 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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3830000
CY2012 us-gaap Dividends Cash
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18956000
CY2012 us-gaap Lease And Rental Expense
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286000
CY2012 us-gaap Increase Decrease In Customer Advances And Deposits
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CY2012 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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CY2012 us-gaap Deferred Policy Acquisition Cost Amortization Expense
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CY2012 us-gaap Amortization Of Debt Discount Premium
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CY2012 us-gaap Preferred Stock Dividends Income Statement Impact
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287000
CY2012 us-gaap Proceeds From Sale Of Available For Sale Securities Equity
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CY2012 us-gaap Selling General And Administrative Expense
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CY2012 us-gaap Income Tax Expense Benefit
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22247000
CY2012 uve Cash Received For Strike Price And Tax Withholdings
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652000
CY2012 uve Weighted Average Number Of Anti Dilutive Shares
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CY2012 uve Shares Acquired Through Cashless Exercise
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147000 shares
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102949000
CY2012 uve Effective Income Tax Rate Reconciliation Non Deductible Fines And Penalties
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CY2012 uve Reinsurance Recoverables Less
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88002000
CY2012 uve Deferred Policy Acquisition Costs And Deferred Reinsurance Ceding Commissions Capitalized Costs Gross
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107180000
CY2012 uve Deferred Reinsurance Ceding Commissions Earned Ceding Commissions
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CY2012 uve Deferred Reinsurance Ceding Commissions Ceding Commissions Written
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CY2012 uve Value Of Shares Acquired
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CY2012 uve Effective Income Tax Rate Reconciliation True Up To Prior Year Tax Returns
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CY2012 uve Marketable Securities Realized Gain Loss Trading Portfolio
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CY2012 uve Marketable Securities Unrealized Gain Loss Trading Portfolio
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CY2011Q1 us-gaap Common Stock Dividends Per Share Declared
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CY2013Q1 us-gaap Revenues
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CY2013Q1 us-gaap Premiums Earned Net
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CY2013Q1 us-gaap Net Investment Income
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CY2013Q1 us-gaap Benefits Losses And Expenses
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CY2013Q1 us-gaap Dividends Cash
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CY2011Q2 us-gaap Common Stock Dividends Per Share Declared
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CY2012Q1 us-gaap Common Stock Dividends Per Share Declared
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EarningsPerShareBasic
0.24
CY2012Q1 us-gaap Revenues
Revenues
60247000
CY2012Q1 us-gaap Premiums Earned Net
PremiumsEarnedNet
48640000
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
9873000
CY2012Q1 us-gaap Net Investment Income
NetInvestmentIncome
-36000
CY2012Q1 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
44018000
CY2012Q1 us-gaap Dividends Cash
DividendsCash
4012000
CY2012Q1 uve Deferred Policy Acquisition Costs Net Difference Amount
DeferredPolicyAcquisitionCostsNetDifferenceAmount
1600000
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.19
CY2012Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.08
CY2012Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
CY2012Q2 us-gaap Revenues
Revenues
59928000
CY2012Q2 us-gaap Premiums Earned Net
PremiumsEarnedNet
55694000
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
7777000
CY2012Q2 us-gaap Net Investment Income
NetInvestmentIncome
-16000
CY2012Q2 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
46936000
CY2012Q2 us-gaap Dividends Cash
DividendsCash
3214000
CY2013Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.44
CY2013Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.08
CY2013Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.47
CY2013Q2 us-gaap Revenues
Revenues
77756000
CY2013Q2 us-gaap Premiums Earned Net
PremiumsEarnedNet
66867000
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
17029000
CY2013Q2 us-gaap Net Investment Income
NetInvestmentIncome
137000
CY2013Q2 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
48068000
CY2013Q2 us-gaap Dividends Cash
DividendsCash
2821000
CY2011Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.08
CY2011Q3 us-gaap Dividends Cash
DividendsCash
3199000
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.20
CY2012Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.08
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.21
CY2012Q3 us-gaap Revenues
Revenues
74537000
CY2012Q3 us-gaap Premiums Earned Net
PremiumsEarnedNet
59512000
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
8256000
CY2012Q3 us-gaap Net Investment Income
NetInvestmentIncome
215000
CY2012Q3 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
60563000
CY2012Q3 us-gaap Dividends Cash
DividendsCash
3270000
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.40
CY2013Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.10
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.43
CY2013Q3 us-gaap Revenues
Revenues
78368000
CY2013Q3 us-gaap Premiums Earned Net
PremiumsEarnedNet
68927000
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
14407000
CY2013Q3 us-gaap Net Investment Income
NetInvestmentIncome
382000
CY2013Q3 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
53255000
CY2013Q3 us-gaap Dividends Cash
DividendsCash
3511000
CY2011Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.14
CY2011Q4 us-gaap Dividends Cash
DividendsCash
5611000
CY2012Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.11
CY2012Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.20
CY2012Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.11
CY2012Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.529 pure
CY2012Q4 us-gaap Revenues
Revenues
75227000
CY2012Q4 us-gaap Premiums Earned Net
PremiumsEarnedNet
67274000
CY2012Q4 us-gaap Net Income Loss
NetIncomeLoss
4406000
CY2012Q4 us-gaap Net Investment Income
NetInvestmentIncome
278000
CY2012Q4 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
65863000
CY2012Q4 us-gaap Dividends Cash
DividendsCash
8174000
CY2013Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.44
CY2013Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.23
CY2013Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.46
CY2013Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.400 pure
CY2013Q4 us-gaap Revenues
Revenues
77580000
CY2013Q4 us-gaap Premiums Earned Net
PremiumsEarnedNet
66452000
CY2013Q4 us-gaap Net Income Loss
NetIncomeLoss
15582000
CY2013Q4 us-gaap Net Investment Income
NetInvestmentIncome
1397000
CY2013Q4 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
51587000
CY2013Q4 us-gaap Dividends Cash
DividendsCash
8134000
CY2013Q4 uve Increase Decrease In Operating Expenses
IncreaseDecreaseInOperatingExpenses
14300000
CY2013Q4 uve Decrease In Losses And Loss Adjustment Expenses During Period
DecreaseInLossesAndLossAdjustmentExpensesDuringPeriod
5700000
CY2013Q4 uve Increase Decrease In Unrealized Investments Net
IncreaseDecreaseInUnrealizedInvestmentsNet
2000000
CY2013Q4 uve Increase In Net Earned Premiums During Period
IncreaseInNetEarnedPremiumsDuringPeriod
1100000
CY2013Q4 uve Increase In Revenue During Period
IncreaseInRevenueDuringPeriod
2400000
CY2013Q4 uve Increase Decrease In General And Administrative Expenses During Period
IncreaseDecreaseInGeneralAndAdministrativeExpensesDuringPeriod
8600000
CY2013Q4 uve Benefit From Repurchase Of Shares
BenefitFromRepurchaseOfShares
0.08

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