XML 89 R4.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
REVENUE:      
Gross premiums written $ 436,753uihc_GrossPremiumsWrittenPropertyAndCasualty $ 381,352uihc_GrossPremiumsWrittenPropertyAndCasualty $ 254,909uihc_GrossPremiumsWrittenPropertyAndCasualty
Increase in gross unearned premiums (36,058)us-gaap_IncreaseDecreaseInUnearnedPremiums (64,644)us-gaap_IncreaseDecreaseInUnearnedPremiums (28,655)us-gaap_IncreaseDecreaseInUnearnedPremiums
Gross premiums earned 400,695uihc_GrossPremiumsEarnedPropertyAndCasualty 316,708uihc_GrossPremiumsEarnedPropertyAndCasualty 226,254uihc_GrossPremiumsEarnedPropertyAndCasualty
Ceded Premiums Earned (135,845)us-gaap_CededPremiumsEarned (119,330)us-gaap_CededPremiumsEarned (104,286)us-gaap_CededPremiumsEarned
Net premiums earned 264,850us-gaap_PremiumsEarnedNetPropertyAndCasualty 197,378us-gaap_PremiumsEarnedNetPropertyAndCasualty 121,968us-gaap_PremiumsEarnedNetPropertyAndCasualty
Net investment income 6,795us-gaap_NetInvestmentIncome 3,871us-gaap_NetInvestmentIncome 3,083us-gaap_NetInvestmentIncome
Net realized gains (20)us-gaap_AvailableForSaleSecuritiesGrossRealizedGainLossNet (129)us-gaap_AvailableForSaleSecuritiesGrossRealizedGainLossNet 2,160us-gaap_AvailableForSaleSecuritiesGrossRealizedGainLossNet
Other than Temporary Impairment Losses, Investments 0us-gaap_ImpairmentOfInvestments    
Other revenue 8,605us-gaap_OtherIncome 6,960us-gaap_OtherIncome 4,023us-gaap_OtherIncome
Total revenue 280,230us-gaap_Revenues 208,080us-gaap_Revenues 131,234us-gaap_Revenues
EXPENSES:      
Losses and loss adjustment expenses 118,077us-gaap_IncurredClaimsPropertyCasualtyAndLiability 98,830us-gaap_IncurredClaimsPropertyCasualtyAndLiability 58,409us-gaap_IncurredClaimsPropertyCasualtyAndLiability
Deferred Policy Acquisition Cost, Amortization Expense 65,657us-gaap_DeferredPolicyAcquisitionCostAmortizationExpense 50,623us-gaap_DeferredPolicyAcquisitionCostAmortizationExpense 36,877us-gaap_DeferredPolicyAcquisitionCostAmortizationExpense
Operating Expenses 11,746us-gaap_OperatingExpenses 9,222us-gaap_OperatingExpenses 8,630us-gaap_OperatingExpenses
General and Administrative Expense 20,007us-gaap_GeneralAndAdministrativeExpense 14,552us-gaap_GeneralAndAdministrativeExpense 11,734us-gaap_GeneralAndAdministrativeExpense
Interest Expense 410us-gaap_InterestExpense 367us-gaap_InterestExpense 355us-gaap_InterestExpense
Total expenses 215,897us-gaap_CostsAndExpenses 173,594us-gaap_CostsAndExpenses 116,005us-gaap_CostsAndExpenses
Income before other income 64,333us-gaap_OperatingIncomeLoss 34,486us-gaap_OperatingIncomeLoss 15,229us-gaap_OperatingIncomeLoss
Other Nonoperating Income (Expense) 77us-gaap_OtherNonoperatingIncomeExpense 1us-gaap_OtherNonoperatingIncomeExpense 485us-gaap_OtherNonoperatingIncomeExpense
Income before income taxes 64,410us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 34,487us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 15,714us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Provision for income taxes 23,397us-gaap_IncomeTaxExpenseBenefit 14,145us-gaap_IncomeTaxExpenseBenefit 6,009us-gaap_IncomeTaxExpenseBenefit
Net income 41,013us-gaap_NetIncomeLoss 20,342us-gaap_NetIncomeLoss 9,705us-gaap_NetIncomeLoss
OTHER COMPREHENSIVE INCOME:      
Change in net unrealized gain on investments 6,367us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax (4,233)us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax 2,602us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
Reclassification adjustment for net realized investment gains 20us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax 129us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax (2,160)us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
Income tax expense related to items of other comprehensive income (2,468)us-gaap_OtherComprehensiveIncomeLossTax 1,583us-gaap_OtherComprehensiveIncomeLossTax (170)us-gaap_OtherComprehensiveIncomeLossTax
Total comprehensive income $ 44,932us-gaap_ComprehensiveIncomeNetOfTax $ 17,821us-gaap_ComprehensiveIncomeNetOfTax $ 9,977us-gaap_ComprehensiveIncomeNetOfTax
Weighted average shares outstanding      
Basic 19,933,652us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 16,100,882us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 10,607,751us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Diluted 20,045,907us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 16,183,098us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 10,655,524us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
Earnings per share      
Earnings Per Share, Basic $ 2.06us-gaap_EarningsPerShareBasic $ 1.26us-gaap_EarningsPerShareBasic $ 0.91us-gaap_EarningsPerShareBasic
Earnings Per Share, Diluted $ 2.05us-gaap_EarningsPerShareDiluted $ 1.26us-gaap_EarningsPerShareDiluted $ 0.91us-gaap_EarningsPerShareDiluted
Common Stock, Dividends, Per Share, Declared $ 0.16us-gaap_CommonStockDividendsPerShareDeclared $ 0.12us-gaap_CommonStockDividendsPerShareDeclared $ 0.08us-gaap_CommonStockDividendsPerShareDeclared