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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Premiums written:      
Direct $ 1,119,182 $ 1,169,081 $ 1,346,191
Assumed (note 11) (4,898) 3,090 3,947
Ceded (note 11) (49,904) (70,376) (107,111)
Net premiums written 1,064,380 1,101,795 1,243,027
Decrease in unearned premiums 59,455 66,952 59,314
Net premiums earned 1,123,835 1,168,747 1,302,341
Investment income, net of expenses (note 6) 201,270 247,253 304,678
Realized investment gains, net (note 6) 143,430 102,581 92,874
Total other-than-temporary impairment losses (715) (9,644) (42,704)
Portion of losses recognized in other comprehensive income (loss), before taxes (note 3) 0 0 1,764
Net impairment losses recognized in earnings (715) (9,644) (40,940)
Other revenue 36,459 11,588 49,573
Total revenues 1,504,279 1,520,525 1,708,526
Losses and expenses:      
Losses incurred, net (notes 9 and 11) 1,714,707 1,607,541 3,379,444
Change in premium deficiency reserve (note 10) (44,150) (51,347) (261,150)
Amortization of deferred policy acquisition costs 6,880 7,062 8,204
Other underwriting and operating expenses, net 207,870 218,080 231,408
Reinsurance fee (note 11) 0 0 26,407
Interest expense (note 8) 103,271 98,589 89,266
Total losses and expenses 1,988,578 1,879,925 3,473,579
Loss before tax (484,299) (359,400) (1,765,053)
Provision for (benefit from) income taxes (note 14) 1,593 4,335 (442,776)
Net loss $ (485,892) $ (363,735) $ (1,322,277)
Loss per share (notes 3 and 18):      
Basic (in dollars per share) $ (2.42) [1] $ (2.06) [1] $ (10.65)
Diluted (in dollars per share) $ (2.42) [1] $ (2.06) [1] $ (10.65)
Weighted average common shares outstanding - basic (note 3) (in shares) 201,019 176,406 124,209
Weighted average common shares outstanding - diluted (note 3) (in shares) 201,019 176,406 124,209
Dividends per share (in dollars per share) $ 0 $ 0 $ 0
[1] Due to the use of weighted average shares outstanding when calculating earnings per share, the sum of the quarterly per share data may not equal the per share data for the year.