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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities:    
Net loss $ (48,441) $ (540,388)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and other amortization 53,599 77,226
Deferred tax benefit (11) (2,645)
Realized investment gains, excluding impairment losses (3,933) (110,356)
Net investment impairment losses 328 339
Gain on repurchases of senior notes 0 (17,775)
Other (14,147) (14,449)
Change in certain assets and liabilities:    
Accrued investment income (7,007) 13,249
Reinsurance recoverable on loss reserves 34,227 36,748
Reinsurance recoverable on paid losses 1,228 3,165
Premium receivable 2,566 2,435
Deferred insurance policy acquisition costs (1,273) (2,946)
Loss reserves (703,849) (553,511)
Premium deficiency reserve (16,746) (50,685)
Unearned premiums 10,529 (14,729)
Income taxes payable (current) 314 1,800
Net cash used in operating activities (692,616) (1,172,522)
Cash flows from investing activities:    
Purchase of fixed maturities (2,669,778) (3,330,811)
Purchase of equity securities (69) (70)
Proceeds from sale of fixed maturities 602,062 3,165,897
Proceeds from maturity of fixed maturities 1,120,152 1,138,371
Net increase (decrease) in payable for securities 317 (13,153)
Net change in restricted cash (60,348) 0
Net cash (used in) provided by investing activities (1,007,664) 960,234
Cash flows from financing activities:    
Net proceeds from convertible senior notes 484,625 0
Common stock shares issued 663,335 0
Repurchases of long-term debt (17,235) (53,107)
Net cash provided by (used in) financing activities 1,130,725 (53,107)
Net decrease in cash and cash equivalents (569,555) (265,395)
Cash and cash equivalents at beginning of period 1,027,625 995,799
Cash and cash equivalents at end of period $ 458,070 $ 730,404