Unaudited Quarterly Financial Data

12 Months Ended

Dec. 31, 2013

Unaudited Quarterly Financial Data [Abstract]

Unaudited Quarterly Financial Data

21. Unaudited Quarterly Financial Data

	Quarter												2013
2013:	First			Second			Third			Fourth			Year
	(In thousands, except share data)
Net premiums written	$	248,500		$	236,622		$	234,278		$	204,081		$	923,481
Net premiums earned		247,059			237,777			231,857			226,358			943,051
Investment income, net of expenses		18,328			20,883			20,250			21,278			80,739
Loss incurred, net		266,208			196,274			180,189			196,055			838,726
Change in premium deficiency reserves		(1,650	)		(11,283	)		(3,813	)		(8,574	)		(25,320	)
Underwriting and other operating expenses		50,012			47,562			47,970			46,974			192,518
Interest expense		26,406			17,942			17,653			17,662			79,663
Net income (loss)		(72,930	)		12,375			12,114			(1,407	)		(49,848	)
Income (loss) per share (a):
Basic		(0.31	)		0.04			0.04			(0.00	)		(0.16	)
Diluted		(0.31	)		0.04			0.04			(0.00	)		(0.16	)

	Quarter												2012
2012:	First			Second			Third			Fourth (b)			Year
	(In thousands, except share data)
Net premiums written	$	254,986		$	238,605		$	263,505		$	260,736		$	1,017,832
Net premiums earned		262,405			242,628			266,432			261,705			1,033,170
Investment income, net of expenses		37,408			32,178			30,394			21,660			121,640
Loss incurred, net		337,088			551,408			490,121			688,636			2,067,253
Change in premium deficiency reserves		(14,183	)		(27,358	)		(9,144	)		(10,351	)		(61,036	)
Underwriting and other operating expenses		50,343			48,910			50,678			51,516			201,447
Interest expense		24,627			24,912			24,478			25,327			99,344
Net income (loss)		(19,555	)		(273,891	)		(246,942	)		(386,691	)		(927,079	)
Income (loss) per share (a):
Basic		(0.10	)		(1.36	)		(1.22	)		(1.91	)		(4.59	)
Diluted		(0.10	)		(1.36	)		(1.22	)		(1.91	)		(4.59	)

(a) 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.

(b) The results for the fourth quarter of 2012 include a loss of approximately $267 million related to our settlement with Freddie Mac and approximately $100 million related to our probable rescission settlement agreements. See Note 20 – “Litigation and Contingencies.”