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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Premiums written:      
Direct $ 994,910 $ 1,049,549 $ 1,119,182
Assumed 2,074 2,425 (4,898)
Ceded (note 11) (73,503) (34,142) (49,904)
Net premiums written 923,481 1,017,832 1,064,380
Decrease in unearned premiums 19,570 15,338 59,455
Net premiums earned (note 11) 943,051 1,033,170 1,123,835
Investment income, net of expenses (note 6) 80,739 121,640 201,270
Realized investment gains, net (note 6) 6,059 197,719 143,430
Total other-than-temporary impairment losses (328) (2,310) (715)
Portion of losses recognized in other comprehensive income (loss), before taxes (note 12) 0 0 0
Net impairment losses recognized in earnings (328) (2,310) (715)
Other revenue 9,914 28,145 36,459
Total revenues 1,039,435 1,378,364 1,504,279
Losses and expenses:      
Losses incurred, net (notes 9 and 11) 838,726 2,067,253 1,714,707
Change in premium deficiency reserve (note 10) (25,320) (61,036) (44,150)
Amortization of deferred policy acquisition costs 10,641 7,452 6,880
Other underwriting and operating expenses, net (note 11) 181,877 193,995 207,870
Interest expense (note 8) 79,663 99,344 103,271
Total losses and expenses 1,085,587 2,307,008 1,988,578
Loss before tax (46,152) (928,644) (484,299)
Provision for (benefit from) income taxes (note 14) 3,696 (1,565) 1,593
Net loss $ (49,848) $ (927,079) $ (485,892)
Loss per share (note 3):      
Basic (in dollars per share) $ (0.16) [1] $ (4.59) [1] $ (2.42)
Diluted (in dollars per share) $ (0.16) [1] $ (4.59) [1] $ (2.42)
Weighted average common shares outstanding - basic (note 3) (in shares) 311,754 201,892 201,019
Weighted average common shares outstanding - diluted (note 3) (in shares) 311,754 201,892 201,019
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.