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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Premiums written:      
Direct $ 1,049,549 $ 1,119,182 $ 1,169,081
Assumed (note 11) 2,425 (4,898) 3,090
Ceded (note 11) (34,142) (49,904) (70,376)
Net premiums written 1,017,832 1,064,380 1,101,795
Decrease in unearned premiums 15,338 59,455 66,952
Net premiums earned (note 11) 1,033,170 1,123,835 1,168,747
Investment income, net of expenses (note 6) 121,640 201,270 247,253
Realized investment gains, net (note 6) 197,719 143,430 102,581
Total other-than-temporary impairment losses (2,310) (715) (9,644)
Portion of losses recognized in other comprehensive income (loss), before taxes (note 3) 0 0 0
Net impairment losses recognized in earnings (2,310) (715) (9,644)
Other revenue 28,145 36,459 11,588
Total revenues 1,378,364 1,504,279 1,520,525
Losses and expenses:      
Losses incurred, net (notes 9 and 11) 2,067,253 1,714,707 1,607,541
Change in premium deficiency reserve (note 10) (61,036) (44,150) (51,347)
Amortization of deferred policy acquisition costs 7,452 6,880 7,062
Other underwriting and operating expenses, net 193,995 207,870 218,080
Interest expense (note 8) 99,344 103,271 98,589
Total losses and expenses 2,307,008 1,988,578 1,879,925
Loss before tax (928,644) (484,299) (359,400)
(Benefit from) provision for income taxes (note 14) (1,565) 1,593 4,335
Net loss $ (927,079) $ (485,892) $ (363,735)
Loss per share (note 3):      
Basic (in dollars per share) $ (4.59) [1] $ (2.42) [1] $ (2.06)
Diluted (in dollars per share) $ (4.59) [1] $ (2.42) [1] $ (2.06)
Weighted average common shares outstanding - basic (note 3) (in shares) 201,892 201,019 176,406
Weighted average common shares outstanding - diluted (note 3) (in shares) 201,892 201,019 176,406
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.