CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Revenues
Gross premiums written	$ 83,986	$ 113,266	$ 236,206	$ 214,005
Gross premiums ceded	4,602	(17,183)	(6,393)	(20,659)
Net premiums written	88,588	96,083	229,813	193,346
Change in net unearned premium reserves	41,426	11,068	1,789	18,962
Net premiums earned	130,014	107,151	231,602	212,308
Net investment income (loss)	(36,896)	(19,469)	34,711	(55,645)
Other income (expense), net	(236)	(86)	(448)	(347)
Total revenues	92,882	87,596	265,865	156,316
Expenses
Loss and loss adjustment expenses incurred, net	87,337	56,870	150,644	122,595
Acquisition costs, net	37,905	42,824	73,930	84,945
General and administrative expenses	4,359	4,336	8,982	9,335
Total expenses	129,601	104,030	233,556	216,875
Income (loss) before income tax expense	(36,719)	(16,434)	32,309	(60,559)
Income tax benefit (expense)	201	(40)	(62)	(41)
Net income (loss) including non-controlling interest	(36,518)	(16,474)	32,247	(60,600)
(Income) loss attributable to non-controlling interest in joint venture	449	513	(3,183)	1,649
Net income (loss)	$ (36,069)	$ (15,961)	$ 29,064	$ (58,951)
Earnings (loss) per share
Basic	$ (0.98)	$ (0.44)	$ 0.80	$ (1.63)
Diluted	$ (0.98)	$ (0.44)	$ 0.78	$ (1.63)
Weighted average number of ordinary shares used in the determination of earnings (loss) per share:
Basic	36,660,267	36,153,743	36,605,610	36,153,743
Diluted	36,660,267	36,153,743	37,338,484	36,153,743