Condensed Consolidated Balance Sheets (Unaudited) Statement (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013	Dec. 31, 2012
Investments
Fixed-maturities held to maturity—at amortized cost (fair value $421 and $676)	$ 427	$ 679
Fixed-maturities available for sale at fair value (amortized cost $36,552 and $39,481)	38,305	40,696
Equity securities available for sale—at fair value (cost $88,260 and $88,260)	123,050	112,139
Trading securities—at fair value	3,963,465	4,094,622
Short-term investments at fair value	1,367,393	777,532
Other invested assets (including VIE assets of $76,919 and $78,006)	127,093	126,750
Total investments	5,619,733	5,152,418
Cash	29,334	31,555
Restricted cash	23,821	24,226
Deferred policy acquisition costs	74,601	88,202
Accrued investment income	32,247	34,349
Accounts and notes receivable	84,554	87,519
Property and equipment, at cost (less accumulated depreciation of $99,675 and $98,909)	7,105	7,456
Derivative assets (including VIE derivative assets of $1,578 and $1,585)	6,429	13,609
Deferred income taxes, net	17,902	0
Reinsurance recoverables	78,770	89,204
Other assets (including VIE other assets of $96,693 and $99,337)	396,453	374,662
Total assets	6,370,949	5,903,200
LIABILITIES AND STOCKHOLDERS’ EQUITY
Unearned premiums	673,849	648,682
Reserve for losses and loss adjustment expenses (“LAE”)	2,919,073	3,149,936
Reserve for premium deficiency (“PDR”)	3,056	3,685
Long-term debt	906,105	663,571
VIE debt—at fair value	107,401	108,858
Derivative liabilities (including VIE derivative liabilities of $66,752 and $70,467)	430,898	266,873
Payable for securities purchased	37,491	697
Accounts payable and accrued expenses (including VIE accounts payable of $367 and $366)	362,030	324,573
Total liabilities	5,439,903	5,166,875
Commitments and Contingencies (Note 15)
Stockholders’ equity
Common stock: par value $.001 per share; 325,000,000 shares authorized; 190,348,457 and 151,131,173 shares issued at March 31, 2013 and December 31, 2012, repectively; 172,864,500 and 133,647,216 shares outstanding at March 31, 2013 and December 31, 2012, respectively	190	151
Treasury stock, at cost: 17,483,957 and 17,483,957 shares at March 31, 2013 and December 31, 2012, respectively	(892,094)	(892,094)
Additional paid-in capital	2,342,151	1,967,414
Retained deficit	(542,741)	(355,241)
Accumulated other comprehensive income	23,540	16,095
Total stockholders’ equity	931,046	736,325
Total liabilities and stockholders’ equity	$ 6,370,949	$ 5,903,200