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Condensed Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Premiums written - insurance        
Direct $ 268,886 $ 232,086 $ 784,180 $ 650,188
Assumed (126) (918) (10,729) (89,434)
Ceded (17,918) (21,891) (64,195) (91,867)
Net premiums written 250,842 209,277 709,256 468,887
(Increase) decrease in unearned premiums, net (38,858) (18,314) (91,560) 76,220
Net premiums earned—insurance 211,984 190,963 617,696 545,107
Net investment income 26,732 25,635 81,220 91,225
Net (losses) gains on investments (7,132) 84,659 (142,891) 178,537
Change in fair value of derivative instruments 10,778 (41,056) (70,357) (146,937)
Net gains (losses) on other financial instruments 902 (740) (3,585) (80,454)
Gain on sale of affiliate 0 0 0 7,708
Other income 1,314 1,328 5,319 4,163
Total revenues 244,578 260,789 487,402 599,349
Expenses:        
Provision for losses 157,174 176,352 429,524 653,374
Change in PDR (2,325) 966 (1,703) 1,505
Policy acquisition costs 7,958 12,927 35,159 51,778
Other operating expenses 70,974 50,429 212,055 140,776
Interest expense 19,570 12,520 54,871 39,249
Total expenses 253,351 253,194 729,906 886,682
Equity in net income (loss) of affiliates 0 0 1 (13)
Pretax (loss) income (8,773) 7,595 (242,503) (287,346)
Income tax provision (benefit) 3,909 (6,730) (9,149) (13,180)
Net (loss) income $ (12,682) $ 14,325 $ (233,354) $ (274,166)
Basic net (loss) income per share $ (0.07) $ 0.11 $ (1.43) $ (2.07)
Diluted net (loss) income per share $ (0.07) $ 0.11 $ (1.43) $ (2.07)
Weighted-average number of common shares outstanding—basic 171,830 132,521 162,828 132,530
Weighted-average number of common and common equivalent shares outstanding—diluted 171,830 134,033 162,828 132,530
Dividends per share $ 0.0025 $ 0.0025 $ 0.0075 $ 0.0075