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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net income (loss) $ 77,959 $ (67,982)
Adjustments to reconcile net income (loss) to net cash (used in) operating activities:    
Amortization of premium or discount on fixed maturity securities 173 323
Net realized (gain) on sale of investments (1) (267)
Unrealized (gain) loss on trading securities (167) 273
Unrealized (gain) loss on derivative liability - embedded conversion feature (78,830) 75,198
Equity-based compensation 309 779
Changes in assets and liabilities:    
Accrued investment income   181
Other assets (15) (123)
Cash equivalents held in trust 868 4,161
Restricted cash (1,564) (580,240)
Losses and loss adjustment reserves (2,870) (11,639)
Losses payable (272) (265)
Unearned premiums (416) (177)
Accrued ceding commission expense (7) (2)
Accrued interest on notes payable (14) (22)
Loss contract reserve change (1,797) (2,783)
Other liabilities (482) 314
Total adjustments (85,085) (514,289)
Net cash (used in) operating activities (7,126) (582,271)
Cash flows from investing activities:    
Purchase of investments (69,766) (130,252)
Proceeds from sales and maturities of investments 80,777 83,220
Net cash provided by (used in) investing activities 11,011 (47,032)
Cash flows from financing activities:    
Proceeds from issuance of preferred stock   600,000
Fees incurred and paid relating to preferred stock issuance   (19,310)
Redeemable convertible series B preferred stock dividends paid in cash (9,000) (7,998)
Notes payable – principal repayments (1,293) (2,965)
Notes payable – principal issued   918
Net cash (used in) provided by financing activities (10,293) 570,645
(Decrease) in cash and cash equivalents (6,408) (58,658)
Cash and cash equivalents, beginning of period 9,924 [1] 78,009
Cash and cash equivalents, end of period 3,516 19,351
Supplementary disclosure of cash flow information:    
Cash paid during the period, Interest $ 1,372 1,009
Supplementary disclosure of non-cash investing and financing activities:    
Embedded derivatives on preferred stock issuances   66,227
Notes payable issued in lieu of cash interest payments   918
Redeemable convertible series B preferred stock dividends accrued   750
Accrued fees relating to series B preferred stock issuance   $ 12,250
[1] Balances derived from audited financial statements as of December 31, 2015.