AMERISAFE (AMSF) 10-Q 30 Oct 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 28, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Trading Symbol	AMSF
Entity Registrant Name	AMERISAFE INC
Entity Central Index Key	1,018,979
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		19,093,792

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Investments:
Fixed maturity securities-held-to-maturity, at amortized cost (fair value $679,893 and $664,371 in 2015 and 2014, respectively)	$ 660,250	$ 639,631
Fixed maturity securities-available-for-sale, at fair value (cost $364,748 and $327,004 in 2015 and 2014, respectively)	369,833	331,242
Equity securities-available-for-sale, at fair value (cost $0 in 2015 and 2014)	31	28
Short-term investments	7,057	33,684
Other investments	11,759	11,748
Total investments	1,048,930	1,016,333
Cash and cash equivalents	99,899	90,956
Amounts recoverable from reinsurers	91,092	85,888
Premiums receivable, net of allowance	194,086	178,917
Deferred income taxes	31,688	31,231
Accrued interest receivable	12,208	11,637
Property and equipment, net	6,945	7,240
Deferred policy acquisition costs	21,089	19,649
Federal income tax recoverable		1,082
Other assets	46,603	14,287
Total assets	1,552,540	1,457,220
Liabilities:
Reserves for loss and loss adjustment expenses	720,710	687,602
Unearned premiums	176,270	168,576
Reinsurance premiums payable	274	843
Amounts held for others	49,287	42,827
Policyholder deposits	47,944	48,722
Insurance-related assessments	33,531	29,315
Federal income tax payable	979
Accounts payable and other liabilities	30,000	30,110
Payable for investments purchased	2,969	2,257
Total liabilities	1,061,964	1,010,252
Shareholders' equity:
Voting-$0.01 par value authorized shares-50,000,000 in 2015 and 2014; 20,352,042 and 20,155,936 shares issued and 19,093,792 and 18,897,686 shares outstanding in 2015 and 2014, respectively	203	201
Additional paid-in capital	203,322	199,138
Treasury stock at cost (1,258,250 shares in 2015 and 2014)	(22,370)	(22,370)
Accumulated earnings	306,061	267,189
Accumulated other comprehensive income, net	3,360	2,810
Total shareholders' equity	490,576	446,968
Total liabilities and shareholders' equity	$ 1,552,540	$ 1,457,220

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Fixed maturity securities, fair value	$ 679,893	$ 664,371
Fixed maturity securities, cost	364,748	327,004
Equity securities, cost	$ 0	$ 0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	20,352,042	20,155,936
Common stock, shares outstanding	19,093,792	18,897,686
Treasury stock, shares	1,258,250	1,258,250

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues
Gross premiums written	$ 91,061	$ 93,962	$ 297,872	$ 303,485
Ceded premiums written	(4,232)	(3,823)	(9,317)	(10,655)
Net premiums written	86,829	90,139	288,555	292,830
Net premiums earned	90,504	95,928	280,860	278,677
Net investment income	6,923	6,495	20,646	20,048
Net realized gains/(losses) on investments	40	(152)	(2,518)	181
Fee and other income	3	65	206	227
Total revenues	97,470	102,336	299,194	299,133
Expenses
Loss and loss adjustment expenses incurred	48,942	61,822	166,252	185,570
Underwriting and certain other operating costs	9,293	7,822	26,043	24,624
Commissions	6,696	7,022	20,606	20,696
Salaries and benefits	6,278	6,183	18,070	18,090
Policyholder dividends	371	139	1,024	340
Total expenses	71,580	82,988	231,995	249,320
Income before income taxes	25,890	19,348	67,199	49,813
Income tax expense	7,950	5,869	19,810	13,012
Net income	17,940	13,479	47,389	36,801
Net income available to common shareholders	$ 17,940	$ 13,479	$ 47,389	$ 36,801
Earnings per share
Basic	$ 0.95	$ 0.72	$ 2.51	$ 1.98
Diluted	$ 0.94	$ 0.71	$ 2.48	$ 1.95
Shares used in computing earnings per share
Basic	18,968,718	18,676,033	18,911,675	18,603,227
Diluted	19,096,259	18,929,777	19,088,140	18,905,880
Extraordinary cash dividends declared per common share				$ 0.50
Cash dividends declared per common share	$ 0.15	$ 0.12	$ 0.45	$ 0.36

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 17,940	$ 13,479	$ 47,389	$ 36,801
Other comprehensive income:
Unrealized gain on securities, net of tax	1,308	117	550	6,373
Comprehensive income	$ 19,248	$ 13,596	$ 47,939	$ 43,174

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Changes in Shareholders' Equity (Unaudited) - 9 months ended Sep. 30, 2015 - USD ($) $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Earnings [Member]	Accumulated Other Comprehensive Loss [Member]
Beginning Balance at Dec. 31, 2014	$ 446,968	$ 201	$ (22,370)	$ 199,138	$ 267,189	$ 2,810
Beginning Balance, Shares at Dec. 31, 2014	18,897,686	20,155,936
Treasury Stock Beginning Balance, Shares at Dec. 31, 2014	(1,258,250)		(1,258,250)
Comprehensive income	$ 47,939				47,389	550
Options exercised	$ 1,277	$ 2		1,275
Options exercised, Shares	156,850	156,850
Tax benefit from share-based payments	$ 1,795			1,795
Restricted common stock issued	502			502
Restricted common stock issued, Shares		39,256
Share-based compensation	612			612
Dividends to stockholders	(8,517)				(8,517)
Ending Balance at Sep. 30, 2015	$ 490,576	$ 203	$ (22,370)	$ 203,322	$ 306,061	$ 3,360
Ending Balance, Shares at Sep. 30, 2015	19,093,792	20,352,042
Treasury Stock Ending Balance, Shares at Sep. 30, 2015	(1,258,250)		(1,258,250)

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Operating Activities
Net income	$ 47,389	$ 36,801
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	1,030	958
Net amortization of investments	12,295	11,336
Deferred income taxes	(752)	(3,616)
Net realized (gains)/losses on investments	2,518	(181)
Net realized losses on sale of fixed assets	24
Share-based compensation	691	988
Changes in operating assets and liabilities:
Premiums receivable, net	(15,169)	(22,036)
Accrued interest receivable	(571)	(26)
Deferred policy acquisition costs	(1,440)	(1,845)
Amounts held by others	(27,847)	(1,081)
Other assets	(1,712)	(2,669)
Reserves for loss and loss adjustment expenses	33,108	62,052
Unearned premiums	7,694	14,153
Reinsurance balances	(5,773)	(13,817)
Amounts held for others and policyholder deposits	5,682	9,423
Accounts payable and other liabilities	5,555	12,354
Net cash provided by operating activities	62,722	102,794
Investing Activities
Purchases of investments held-to-maturity	(145,771)	(151,608)
Purchases of investments available-for-sale	(114,406)	(104,172)
Purchases of short-term investments	(7,000)	(72,900)
Proceeds from maturities of investments held-to-maturity	115,656	79,042
Proceeds from sales and maturities of investments available-for-sale	70,652	42,633
Proceeds from sales and maturities of short-term investments	33,341	112,652
Purchases of property and equipment	(759)	(771)
Net cash used in investing activities	(48,287)	(95,124)
Financing Activities
Proceeds from stock option exercises	1,277	1,820
Tax benefit from share-based payments	1,795	1,975
Dividends to stockholders	(8,564)	(15,998)
Net cash used in financing activities	(5,492)	(12,203)
Change in cash and cash equivalents	8,943	(4,533)
Cash and cash equivalents at beginning of period	90,956	123,077
Cash and cash equivalents at end of period	$ 99,899	$ 118,544

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 1. Basis of Presentation AMERISAFE, Inc. (the “Company”) is an insurance holding company incorporated in the state of Texas. The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiaries: American Interstate Insurance Company (“AIIC”), Silver Oak Casualty, Inc. (“SOCI”), American Interstate Insurance Company of Texas (“AIICTX”), Amerisafe Risk Services, Inc. (“RISK”) and Amerisafe General Agency, Inc. (“AGAI”). AIIC and SOCI are property and casualty insurance companies organized under the laws of the state of Nebraska. AIICTX is a property and casualty insurance company organized under the laws of the state of Texas. RISK, a wholly owned subsidiary of the Company, is a claims and safety services company, currently servicing only affiliated insurance companies. AGAI, a wholly owned subsidiary of the Company, is a general agent for the Company. AGAI sells insurance, which is underwritten by AIIC, SOCI and AIICTX, as well as by nonaffiliated insurance carriers. The assets and operations of AGAI are not significant to that of the Company and its consolidated subsidiaries. The terms “AMERISAFE,” the “Company,” “we,” “us” or “our” refer to AMERISAFE, Inc. and its consolidated subsidiaries, as the context requires. The Company provides workers’ compensation insurance for small to mid-sized employers engaged in hazardous industries, principally construction, trucking, manufacturing, oil and gas, and agriculture. Assets and revenues of AIIC represent at least 95% of comparable consolidated amounts of the Company for each of 2015 and 2014. In the opinion of management of the Company, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of normal recurring accruals) necessary to present fairly the financial position, the results of operations and cash flows for the periods presented. The unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q under the Securities Exchange Act of 1934 and therefore do not include all information and footnotes to be in conformity with accounting principles generally accepted in the United States (“GAAP”). The results for the interim periods are not necessarily indicative of the results of operations that may be expected for the year. The unaudited condensed consolidated financial statements contained herein should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2014. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Certain prior year amounts have been reclassified to conform with the current year presentation.

Stock Options and Restricted St

Stock Options and Restricted Stock	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Options and Restricted Stock	Note 2. Stock Options and Restricted Stock As of September 30, 2015, the Company has three equity incentive plans: the AMERISAFE 2005 Equity Incentive Plan (the “2005 Incentive Plan”), the AMERISAFE 2010 Non-Employee Director Restricted Stock Plan (the “2010 Restricted Stock Plan”) and the AMERISAFE 2012 Equity and Incentive Compensation Plan (the “2012 Incentive Plan”). The 2005 Incentive Plan expired on October 27, 2015. No grants will be made under the 2005 Incentive Plan after October 27, 2015 but all grants made on or prior to such date will continue in effect thereafter subject to the terms and conditions of the 2005 Incentive Plan. See Note 12 to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2014 for additional information regarding the Company’s incentive plans. During the nine months ended September 30, 2015, the Company granted 50,461 and 7,112 shares of restricted common stock to executive officers and non-employee directors, respectively. The market value of the restricted shares granted totaled $2.6 million. During the nine months ended September 30, 2014, the Company granted 4,312 and 4,866 shares of restricted common stock to executive officers and non-employee directors, respectively. The market value of the restricted shares granted totaled $0.4 million. During the nine months ended September 30, 2015, options to purchase 156,850 shares of common stock were exercised. During the nine months ended September 30, 2014, options to purchase 204,667 shares of common stock were exercised. In connection with these exercises, the Company received $1.3 million and $1.8 million of stock option proceeds, respectively. The Company recognized share-based compensation expense of $0.7 million in the nine months ended September 30, 2015 and $1.0 million for the same period of 2014.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Note 3. Earnings Per Share The Company computes earnings per share (“EPS”) in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 260, Earnings Per Share. Basic EPS is calculated by dividing income available to common shareholders by the weighted-average number of common shares outstanding during the period. The diluted EPS calculation includes potential common shares assumed issued under the treasury stock method, which reflects the potential dilution that would occur if any outstanding options or warrants were exercised or restricted stock becomes vested, and includes the “if converted” method for participating securities if the effect is dilutive. Three Months Ended Nine Months Ended 2015 2014 2015 2014 (in thousands, except share and per share amounts) Basic EPS Net income available to common shareholders - basic $ 17,940 $ 13,479 $ 47,389 $ 36,801 Basic weighted average common shares 18,968,718 18,676,033 18,911,675 18,603,227 Basic earnings per common share $ 0.95 $ 0.72 $ 2.51 $ 1.98 Diluted EPS Net income available to common shareholders - diluted $ 17,940 $ 13,479 $ 47,389 $ 36,801 Diluted weighted average common shares: Weighted average common shares 18,968,718 18,676,033 18,911,675 18,603,227 Stock options and performance shares 127,541 253,744 176,465 302,653 Diluted weighted average common shares 19,096,259 18,929,777 19,088,140 18,905,880 Diluted earnings per common share $ 0.94 $ 0.71 $ 2.48 $ 1.95

Investments

Investments	9 Months Ended
	Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Investments	Note 4. Investments The gross unrealized gains and losses on, and the amortized cost and fair value of, those investments classified as held-to-maturity at September 30, 2015 are summarized as follows: Gross Gross Fair Value (in thousands) States and political subdivisions $ 417,804 $ 16,307 $ (195 ) $ 433,916 Corporate bonds 170,176 555 (241 ) 170,490 Commercial mortgage-backed securities 43,396 586 — 43,982 U.S. agency-based mortgage-backed securities 14,094 1,393 (1 ) 15,486 U.S. Treasury securities and obligations of U.S. Government agencies 12,365 1,074 — 13,439 Asset-backed securities 2,415 224 (59 ) 2,580 Totals $ 660,250 $ 20,139 $ (496 ) $ 679,893 The gross unrealized gains and losses on, and the cost or amortized cost and fair value of, those investments classified as available-for-sale at September 30, 2015 are summarized as follows: Cost or Gross Gross Fair Value (in thousands) Fixed maturity: States and political subdivisions $ 166,520 $ 6,685 $ (447 ) $ 172,758 Corporate bonds 189,169 762 (451 ) 189,480 U.S. agency-based mortgage-backed securities 9,059 7 (1,471 ) 7,595 Total fixed maturity 364,748 7,454 (2,369 ) 369,833 Other investments 10,000 1,759 — 11,759 Equity securities — 31 — 31 Totals $ 374,748 $ 9,244 $ (2,369 ) $ 381,623 The gross unrealized gains and losses on, and the amortized cost and fair value of, those investments classified as held-to-maturity at December 31, 2014 are summarized as follows: Amortized Cost Gross Gross Fair Value (in thousands) States and political subdivisions $ 385,623 $ 20,100 $ (58 ) $ 405,665 Corporate bonds 176,880 374 (520 ) 176,734 Commercial mortgage-backed securities 46,662 1,867 — 48,529 U.S. agency-based mortgage-backed securities 16,972 1,702 (2 ) 18,672 U.S. Treasury securities and obligations of U.S. Government agencies 10,697 1,097 (2 ) 11,792 Asset-backed securities 2,797 264 (82 ) 2,979 Totals $ 639,631 $ 25,404 $ (664 ) $ 664,371 The gross unrealized gains and losses on, and the cost or amortized cost and fair value of, those investments classified as available-for-sale at December 31, 2014 are summarized as follows: Cost or Gross Gross Fair Value (in thousands) Fixed maturity: States and political subdivisions $ 151,744 $ 7,302 $ (1,672 ) $ 157,374 Corporate bonds 165,412 428 (470 ) 165,370 U.S. agency-based mortgage-backed securities 9,848 2 (1,352 ) 8,498 Total fixed maturity 327,004 7,732 (3,494 ) 331,242 Other investments 10,000 1,748 — 11,748 Equity securities — 28 — 28 Totals $ 337,004 $ 9,508 $ (3,494 ) $ 343,018 A summary of the cost and fair value of investments in fixed maturity securities, classified as held-to-maturity at September 30, 2015, by contractual maturity, is as follows: Remaining Time to Maturity Amortized Fair Value (in thousands) Within one year $ 125,030 $ 125,807 After one year through five years 281,139 289,630 After five years through ten years 123,928 129,689 After ten years 70,248 72,719 U.S. agency-based mortgage-backed securities 14,094 15,486 Commercial mortgage-backed securities 43,396 43,982 Asset-backed securities 2,415 2,580 Total $ 660,250 $ 679,893 A summary of cost and fair value of investments in fixed maturity securities, classified as available-for-sale at September 30, 2015, by contractual maturity, is as follows: Remaining Time to Maturity Amortized Fair Value (in thousands) Within one year $ 31,131 $ 31,258 After one year through five years 183,756 185,173 After five years through ten years 25,294 25,470 After ten years 115,508 120,337 U.S. agency-based mortgage-backed securities 9,059 7,595 Total $ 364,748 $ 369,833 The following table summarizes the fair value and gross unrealized losses on securities, aggregated by major investment category and length of time that the individual securities have been in a continuous unrealized loss position: Less Than 12 Months 12 Months or Greater Total Fair Value of Gross Fair Value of Gross Fair Value of Gross (in thousands) September 30, 2015 Held-to-Maturity Fixed maturity securities: Corporate bonds $ 52,041 $ 192 $ 20,270 $ 49 $ 72,311 $ 241 States and political subdivisions 36,630 195 — — 36,630 195 U.S. agency-based mortgage-backed securities 53 1 5 — 58 1 Asset-backed securities — — 1,480 59 1,480 59 Total held-to-maturity securities 88,724 388 21,755 108 110,479 496 Available-for Sale Fixed maturity securities: Corporate bonds $ 46,388 $ 440 $ 4,241 $ 11 $ 50,629 $ 451 States and political subdivisions 11,419 61 4,263 386 15,682 447 U.S. agency-based mortgage-backed securities 486 26 7,023 1,445 7,509 1,471 Total available-for-sale securities 58,293 527 15,527 1,842 73,820 2,369 Total $ 147,017 $ 915 $ 37,282 $ 1,950 $ 184,299 $ 2,865 December 31, 2014 Held-to-Maturity Fixed maturity securities: Corporate bonds $ 129,788 $ 520 $ — $ — $ 129,788 $ 520 States and political subdivisions 16,896 58 — — 16,896 58 U.S. Treasury securities and obligations of U.S. Government agencies 3,385 2 — — 3,385 2 U.S. agency-based mortgage-backed securities 78 2 — — 78 2 Asset-backed securities — — 1,662 82 1,662 82 Total held-to-maturity securities 150,147 582 1,662 82 151,809 664 Available-for Sale Fixed maturity securities: Corporate bonds $ 106,185 $ 470 $ — $ — $ 106,185 $ 470 States and political subdivisions 3,810 6 10,347 1,666 14,157 1,672 U.S. agency-based mortgage-backed securities 627 11 7,757 1,341 8,384 1,352 Total available-for-sale securities 110,622 487 18,104 3,007 128,726 3,494 Total $ 260,769 $ 1,069 $ 19,766 $ 3,089 $ 280,535 $ 4,158 At September 30, 2015, the Company held 121 individual fixed maturity securities that were in an unrealized loss position, of which 28 individual fixed maturity securities were in a continuous unrealized loss position for longer than 12 months. The Company holds investments in a long/short equity fund, accounted for under the equity method. The carrying value of this investment is $11.8 million at September 30, 2015. Investment income is recognized as it is earned. The discount or premium on fixed maturity securities is amortized using the “constant yield” method. Anticipated prepayments, where applicable, are considered when determining the amortization of premiums or discounts. Realized investment gains and losses are determined using the specific identification method. We regularly review our investment portfolio to evaluate the necessity of recording impairment losses for other-than-temporary declines in the fair value of specific investments. We consider various factors in determining if a decline in the fair value of an individual security is other-than-temporary. The key factors we consider are: • any reduction or elimination of preferred dividends, or nonpayment of scheduled principal or interest payments; • the financial condition and near-term prospects of the issuer of the applicable security, including any specific events that may affect its operations or earnings; • how long and by how much the fair value of the security has been below its cost or amortized cost; • any downgrades of the security by a rating agency; • our intent not to sell the security for a sufficient time period for it to recover its value; • the likelihood of being forced to sell the security before the recovery of its value; and • an evaluation as to whether there are any credit losses on debt securities. We reviewed all securities with unrealized losses in accordance with the impairment policy described above. With the exception of four securities deemed to be other-than-temporarily impaired, the Company determined that the unrealized losses in the fixed maturity securities portfolio related primarily to changes in market interest rates since the date of purchase, current conditions in the capital markets and the impact of those conditions on market liquidity and prices generally, and the transfer of the investments from the available-for-sale classification to the held-to-maturity classification in January 2004. We expect to recover the carrying value of these securities as it is not more likely than not that we will be required to sell the securities before the recovery of the amortized cost basis. During the nine months ended September 30, 2015, the Company impaired four fixed maturity securities in the amount of $2.7 million. The impairment charge is included in “Net realized gains/(losses) on investments” for 2015. We impaired the securities due to recent downgrades of the securities and the amount of the accumulated unrealized loss. After reviewing the change in relevant benchmark yields, the Company determined the loss was credit related. During the nine months ended September 30, 2014, the Company impaired a fixed maturity security in the amount of $0.2 million. The impairment charge is included in “Net realized gains (losses) on investments” for 2014. We impaired the security due to a downgrade of the security and the amount of the accumulated unrealized loss. Net realized losses in the nine months ended September 30, 2015 were $2.5 million resulting from an impairment loss of $2.7 million recognized for the other-than-temporary declines in the fair value of four fixed maturity securities. Net realized gains in the nine months ended September 30, 2014 were $0.2 million resulting from $0.4 million in gains on called fixed maturity securities offset by an impairment loss of $0.2 million recognized for the other-than-temporary decline in the fair value of a fixed maturity security.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Note 5. Income Taxes In accordance with FASB ASC Topic 740, “Income Taxes,” we provide for the recognition and measurement of deferred income tax benefits based on the likelihood of their realization in future years. As of September 30, 2015, the Company had no material unrecognized tax benefits and no adjustments to liabilities or operations were required. The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. There were no uncertain tax positions recognized for the periods ended September 30, 2015 and 2014. Tax years 2011 through 2014 are subject to examination by the federal and state taxing authorities.

Comprehensive Income and Accumu

Comprehensive Income and Accumulated Other Comprehensive Income	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Comprehensive Income and Accumulated Other Comprehensive Income	Note 6. Comprehensive Income and Accumulated Other Comprehensive Income Comprehensive income was $19.2 million for the three months ended September 30, 2015, compared to $13.6 million for the three months ended September 30, 2014. Comprehensive income was $47.9 million for the nine months ended September 30, 2015, compared to $43.2 million for the same period in 2014. The difference between net income as reported and comprehensive income was due to changes in unrealized gains and losses, net of tax on available-for-sale securities. Comprehensive income includes net income plus unrealized gains/losses on our available-for-sale investment securities, net of tax. In reporting comprehensive income on a net basis in the statement of income, we used a 35 percent tax rate. The following table illustrates the changes in the balance of each component of accumulated other comprehensive income for each period presented in the interim financial statements. Three Months Ended Nine Months Ended 2015 2014 2015 2014 (in thousands) Beginning balance $ 2,052 $ 1,961 $ 2,810 $ (4,295 ) Other comprehensive income/(loss) before reclassification 1,400 121 (188 ) 6,192 Amounts reclassified from accumulated other comprehensive income (92 ) (4 ) 738 181 Net current period other comprehensive income/(loss) 1,308 117 550 6,373 Ending balance $ 3,360 $ 2,078 $ 3,360 $ 2,078 The sale or other-than-temporary impairment of an available-for-sale security results in amounts being reclassified from accumulated other comprehensive income to current period net income. The effects of reclassifications out of accumulated other comprehensive income by the respective line items of net income are presented in the following table. Component of Accumulated Other Comprehensive Three Months Ended Nine Months Ended Affected line item in the statement of income 2015 2014 2015 2014 (in thousands) Unrealized gains/(losses) on available-for-sale securities $ 142 $ 1 $ 464 $ (270 ) Net realized gains/(losses) on investments Other-than-temporary impairment — 5 (1,600 ) (8 ) Net realized gains/(losses) on investments 142 6 (1,136 ) (278 ) Income before income taxes (50 ) (2 ) 398 97 Income tax expense $ 92 $ 4 $ (738 ) $ (181 ) Net income

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 7. Fair Value Measurements We carry available-for-sale securities at fair value in our consolidated financial statements and determine fair value measurements and disclosure in accordance with FASB ASC Topic 820, “Fair Value Measurements and Disclosures.” The Company determines the fair values of its financial instruments based on the fair value hierarchy established in ASC Topic 820, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard defines fair value, describes three levels of inputs that may be used to measure fair value, and expands disclosures about fair value measurements. Fair value is defined in ASC Topic 820 as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is the price to sell an asset or transfer a liability and, therefore, represents an exit price, not an entry price. Fair value is the exit price in the principal market (or, if lacking a principal market, the most advantageous market) in which the reporting entity would transact. Fair value is a market-based measurement, not an entity-specific measurement, and, as such, is determined based on the assumptions that market participants would use in pricing the asset or liability. The exit price objective of a fair value measurement applies regardless of the reporting entity’s intent and/or ability to sell the asset or transfer the liability at the measurement date. ASC Topic 820 requires the use of valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present value amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset, also known as current replacement cost. Valuation techniques used to measure fair value are to be consistently applied. In ASC Topic 820, inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable: • Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity. • Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. Valuation techniques used to measure fair value are intended to maximize the use of observable inputs and minimize the use of unobservable inputs. ASC Topic 820 establishes a fair value hierarchy that prioritizes the use of inputs used in valuation techniques into the following three levels: • Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. • Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability, or inputs that are derived principally from or corroborated by observable market data. • Level 3 inputs are unobservable inputs for the asset or liability. Unobservable inputs are to be used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date. In general, fair value is based upon quoted market prices, where available. If such quoted market prices are not available, fair value is based upon internally developed models that primarily use, as inputs, observable market-based parameters. The fair values of the Company’s investments are based upon prices provided by an independent pricing service. The Company has reviewed these prices for reasonableness and has not adjusted any prices received from the independent provider. Securities reported at fair value utilizing Level 1 inputs represent assets whose fair value is determined based upon observable unadjusted quoted market prices for identical assets in active markets. Level 2 securities represent assets whose fair value is determined using observable market information such as previous day trade prices, quotes from less active markets or quoted prices of securities with similar characteristics. There were no transfers between Level 1 and Level 2 during the nine months ended September 30, 2015. At September 30, 2015, assets and liabilities measured at fair value on a recurring basis are summarized below: September 30, 2015 Level 1 Level 2 Level 3 Total Fair (in thousands) Financial instruments carried at fair value, classified as a part of: Other investments $ — $ — $ 11,759 $ 11,759 Securities available for sale—equity: Domestic common stock 31 — — 31 Securities available for sale—fixed maturity: States and political subdivisions — 172,758 — 172,758 Corporate bonds — 189,480 — 189,480 U.S. agency-based mortgage-backed securities — 7,595 — 7,595 Total securities available for sale—fixed maturity — 369,833 — 369,833 Total available for sale $ 31 $ 369,833 $ 11,759 $ 381,623 At September 30, 2015, assets and liabilities measured at amortized cost are summarized below: September 30, 2015 Level 1 Level 2 Level 3 Total Fair (in thousands) Securities held-to-maturity—fixed maturity States and political subdivisions $ — $ 433,916 $ — $ 433,916 Corporate bonds — 170,490 — 170,490 Commercial mortgage-backed securities — 43,982 — 43,982 U.S. agency-based mortgage-backed securities — 15,486 — 15,486 U.S. Treasury securities 13,439 — — 13,439 Asset-backed securities — 2,580 — 2,580 Total held-to-maturity $ 13,439 $ 666,454 $ — $ 679,893 At December 31, 2014, assets and liabilities measured at fair value on a recurring basis are summarized below: December 31, 2014 Level 1 Level 2 Level 3 Total Fair (in thousands) Financial instruments carried at fair value, classified as part of: Other investments $ — $ — $ 11,748 $ 11,748 Securities available for sale—equity: Domestic common stock 28 — — 28 Securities available for sale—fixed maturity: States and political subdivisions — 157,374 — 157,374 U.S. agency-based mortgage-backed securities — 8,498 — 8,498 Corporate bonds — 165,370 — 165,370 Total available for sale—fixed maturity $ — $ 331,242 $ — $ 331,242 Total available for sale $ 28 $ 331,242 $ 11,748 $ 343,018 At December 31, 2014, assets and liabilities measured at amortized cost are summarized below: December 31, 2014 Level 1 Level 2 Level 3 Total Fair (in thousands) Securities held-to-maturity—fixed maturity: States and political subdivisions $ — $ 405,665 $ — $ 405,665 Corporate bonds — 176,734 — 176,734 Commercial mortgage-backed securities — 48,529 — 48,529 U.S. agency-based mortgage-backed securities — 18,672 — 18,672 U.S. Treasury securities 11,792 — — 11,792 Asset-backed securities — 2,979 — 2,979 Total held-to-maturity $ 11,792 $ 652,579 $ — $ 664,371 The Company determines fair value amounts for financial instruments using available third-party market information. When such information is not available, the Company determines the fair value amounts using appropriate valuation methodologies. Nonfinancial instruments such as real estate, property and equipment, deferred policy acquisition costs, deferred income taxes and loss and loss adjustment expense reserves are excluded from the fair value disclosure. Cash and Cash Equivalents Investments Short Term Investments Other Investments The following table summarizes the carrying values and corresponding fair values for financial instruments: As of September 30, 2015 As of December 31, 2014 Carrying Fair Carrying Fair (in thousands) Assets: Fixed maturity securities—held-to-maturity $ 660,250 $ 679,893 $ 639,631 $ 664,371 Fixed maturity securities—available-for-sale 369,833 369,833 331,242 331,242 Equity securities 31 31 28 28 Cash and cash equivalents 99,899 99,899 90,956 90,956 Short-term investments 7,057 7,057 33,684 33,684 Other investments 11,759 11,759 11,748 11,748 The following table presents summary information regarding changes in the fair value of assets measured at fair value using Level 3 input. Nine Months Ended Twelve Months Ended September 30, 2015 December 31, 2014 (in thousands) Beginning balance $ 11,748 $ 10,591 Total unrealized gains 11 1,157 Ending balance $ 11,759 $ 11,748

Treasury Stock

Treasury Stock	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Treasury Stock	Note 8. Treasury Stock The Company’s Board of Directors initiated a share repurchase program in February 2010. In October 2015, the Board reauthorized this program with a limit of $25.0 million. Unless reauthorized, the program will expire on December 31, 2016. Since the beginning of this plan, the Company has repurchased a total of 1,258,250 shares for $22.4 million, or an average price of $17.78, including commissions.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 9. Commitments and Contingencies In February 2015, the Company was notified of an adverse verdict against its subsidiary, American Interstate Insurance Company, related to a 2009 workers’ compensation claim in the State of Iowa. The verdict was for $25.3 million, of which $0.3 million was for actual damages and $25.0 million was awarded for punitive damages. American Interstate is appealing both the verdict and the damage awards. The Company has posted an appeal bond in the amount of $27.8 million, as required by law. As of September 30, 2015, the Company’s total reserve for the claim was $2.6 million. The Company presently believes that this reserve amount, together with its reinsurance coverage, is adequate to satisfy this claim.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	Note 10. Subsequent Events On October 27, 2015, the Company’s Board of Directors declared a quarterly cash dividend of $0.15 per share payable on December 28, 2015 to shareholders of record as of December 14, 2015. The Board intends to consider the payment of a regular cash dividend each calendar quarter. On October 27, 2015, the Company’s Board of Directors declared an extraordinary cash dividend of $3.00 per share payable on December 28, 2015 to shareholders of record on December 14, 2015. On October 27, 2015, the Company’s Board of Directors reauthorized the share repurchase program with a limit of $25.0 million. Unless reauthorized, the program will expire on December 31, 2016.

Fair Value Measurements (Polici

Fair Value Measurements (Policies)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	We carry available-for-sale securities at fair value in our consolidated financial statements and determine fair value measurements and disclosure in accordance with FASB ASC Topic 820, “Fair Value Measurements and Disclosures.” The Company determines the fair values of its financial instruments based on the fair value hierarchy established in ASC Topic 820, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard defines fair value, describes three levels of inputs that may be used to measure fair value, and expands disclosures about fair value measurements.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Calculation of Basic and Diluted Earnings Per Share	Three Months Ended Nine Months Ended 2015 2014 2015 2014 (in thousands, except share and per share amounts) Basic EPS Net income available to common shareholders - basic $ 17,940 $ 13,479 $ 47,389 $ 36,801 Basic weighted average common shares 18,968,718 18,676,033 18,911,675 18,603,227 Basic earnings per common share $ 0.95 $ 0.72 $ 2.51 $ 1.98 Diluted EPS Net income available to common shareholders - diluted $ 17,940 $ 13,479 $ 47,389 $ 36,801 Diluted weighted average common shares: Weighted average common shares 18,968,718 18,676,033 18,911,675 18,603,227 Stock options and performance shares 127,541 253,744 176,465 302,653 Diluted weighted average common shares 19,096,259 18,929,777 19,088,140 18,905,880 Diluted earnings per common share $ 0.94 $ 0.71 $ 2.48 $ 1.95

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2015
Gross Unrealized Gains and Losses and Amortized Cost and Fair Value of Investments Classified as Held-to-maturity	The gross unrealized gains and losses on, and the amortized cost and fair value of, those investments classified as held-to-maturity at September 30, 2015 are summarized as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) States and political subdivisions $ 417,804 $ 16,307 $ (195 ) $ 433,916 Corporate bonds 170,176 555 (241 ) 170,490 Commercial mortgage-backed securities 43,396 586 — 43,982 U.S. agency-based mortgage-backed securities 14,094 1,393 (1 ) 15,486 U.S. Treasury securities and obligations of U.S. Government agencies 12,365 1,074 — 13,439 Asset-backed securities 2,415 224 (59 ) 2,580 Totals $ 660,250 $ 20,139 $ (496 ) $ 679,893 The gross unrealized gains and losses on, and the amortized cost and fair value of, those investments classified as held-to-maturity at December 31, 2014 are summarized as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) States and political subdivisions $ 385,623 $ 20,100 $ (58 ) $ 405,665 Corporate bonds 176,880 374 (520 ) 176,734 Commercial mortgage-backed securities 46,662 1,867 — 48,529 U.S. agency-based mortgage-backed securities 16,972 1,702 (2 ) 18,672 U.S. Treasury securities and obligations of U.S. Government agencies 10,697 1,097 (2 ) 11,792 Asset-backed securities 2,797 264 (82 ) 2,979 Totals $ 639,631 $ 25,404 $ (664 ) $ 664,371
Gross Unrealized Gains and Losses and Cost or Amortized Cost and Fair Value of Investments Classified as Available-for-sale	The gross unrealized gains and losses on, and the cost or amortized cost and fair value of, those investments classified as available-for-sale at September 30, 2015 are summarized as follows: Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) Fixed maturity: States and political subdivisions $ 166,520 $ 6,685 $ (447 ) $ 172,758 Corporate bonds 189,169 762 (451 ) 189,480 U.S. agency-based mortgage-backed securities 9,059 7 (1,471 ) 7,595 Total fixed maturity 364,748 7,454 (2,369 ) 369,833 Other investments 10,000 1,759 — 11,759 Equity securities — 31 — 31 Totals $ 374,748 $ 9,244 $ (2,369 ) $ 381,623 The gross unrealized gains and losses on, and the cost or amortized cost and fair value of, those investments classified as available-for-sale at December 31, 2014 are summarized as follows: Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) Fixed maturity: States and political subdivisions $ 151,744 $ 7,302 $ (1,672 ) $ 157,374 Corporate bonds 165,412 428 (470 ) 165,370 U.S. agency-based mortgage-backed securities 9,848 2 (1,352 ) 8,498 Total fixed maturity 327,004 7,732 (3,494 ) 331,242 Other investments 10,000 1,748 — 11,748 Equity securities — 28 — 28 Totals $ 337,004 $ 9,508 $ (3,494 ) $ 343,018
Investment Securities Continuous Unrealized Loss Position	The following table summarizes the fair value and gross unrealized losses on securities, aggregated by major investment category and length of time that the individual securities have been in a continuous unrealized loss position: Less Than 12 Months 12 Months or Greater Total Fair Value of Gross Fair Value of Gross Fair Value of Gross (in thousands) September 30, 2015 Held-to-Maturity Fixed maturity securities: Corporate bonds $ 52,041 $ 192 $ 20,270 $ 49 $ 72,311 $ 241 States and political subdivisions 36,630 195 — — 36,630 195 U.S. agency-based mortgage-backed securities 53 1 5 — 58 1 Asset-backed securities — — 1,480 59 1,480 59 Total held-to-maturity securities 88,724 388 21,755 108 110,479 496 Available-for Sale Fixed maturity securities: Corporate bonds $ 46,388 $ 440 $ 4,241 $ 11 $ 50,629 $ 451 States and political subdivisions 11,419 61 4,263 386 15,682 447 U.S. agency-based mortgage-backed securities 486 26 7,023 1,445 7,509 1,471 Total available-for-sale securities 58,293 527 15,527 1,842 73,820 2,369 Total $ 147,017 $ 915 $ 37,282 $ 1,950 $ 184,299 $ 2,865 December 31, 2014 Held-to-Maturity Fixed maturity securities: Corporate bonds $ 129,788 $ 520 $ — $ — $ 129,788 $ 520 States and political subdivisions 16,896 58 — — 16,896 58 U.S. Treasury securities and obligations of U.S. Government agencies 3,385 2 — — 3,385 2 U.S. agency-based mortgage-backed securities 78 2 — — 78 2 Asset-backed securities — — 1,662 82 1,662 82 Total held-to-maturity securities 150,147 582 1,662 82 151,809 664 Available-for Sale Fixed maturity securities: Corporate bonds $ 106,185 $ 470 $ — $ — $ 106,185 $ 470 States and political subdivisions 3,810 6 10,347 1,666 14,157 1,672 U.S. agency-based mortgage-backed securities 627 11 7,757 1,341 8,384 1,352 Total available-for-sale securities 110,622 487 18,104 3,007 128,726 3,494 Total $ 260,769 $ 1,069 $ 19,766 $ 3,089 $ 280,535 $ 4,158
Held-to-Maturity Securities [Member]
Summary of Amortized Cost and Fair Value of Investments in Fixed Maturity Securities, by Contractual Maturity	A summary of the cost and fair value of investments in fixed maturity securities, classified as held-to-maturity at September 30, 2015, by contractual maturity, is as follows: Remaining Time to Maturity Amortized Fair Value (in thousands) Within one year $ 125,030 $ 125,807 After one year through five years 281,139 289,630 After five years through ten years 123,928 129,689 After ten years 70,248 72,719 U.S. agency-based mortgage-backed securities 14,094 15,486 Commercial mortgage-backed securities 43,396 43,982 Asset-backed securities 2,415 2,580 Total $ 660,250 $ 679,893
Available-for-Sale Securities [Member]
Summary of Amortized Cost and Fair Value of Investments in Fixed Maturity Securities, by Contractual Maturity	A summary of cost and fair value of investments in fixed maturity securities, classified as available-for-sale at September 30, 2015, by contractual maturity, is as follows: Remaining Time to Maturity Amortized Fair Value (in thousands) Within one year $ 31,131 $ 31,258 After one year through five years 183,756 185,173 After five years through ten years 25,294 25,470 After ten years 115,508 120,337 U.S. agency-based mortgage-backed securities 9,059 7,595 Total $ 364,748 $ 369,833

Comprehensive Income and Accu21

Comprehensive Income and Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income (AOCI)	The following table illustrates the changes in the balance of each component of accumulated other comprehensive income for each period presented in the interim financial statements. Three Months Ended Nine Months Ended 2015 2014 2015 2014 (in thousands) Beginning balance $ 2,052 $ 1,961 $ 2,810 $ (4,295 ) Other comprehensive income/(loss) before reclassification 1,400 121 (188 ) 6,192 Amounts reclassified from accumulated other comprehensive income (92 ) (4 ) 738 181 Net current period other comprehensive income/(loss) 1,308 117 550 6,373 Ending balance $ 3,360 $ 2,078 $ 3,360 $ 2,078
Reclassification Out of Accumulated Other Comprehensive Income	The effects of reclassifications out of accumulated other comprehensive income by the respective line items of net income are presented in the following table. Component of Accumulated Other Comprehensive Three Months Ended Nine Months Ended Affected line item in the statement of income 2015 2014 2015 2014 (in thousands) Unrealized gains/(losses) on available-for-sale securities $ 142 $ 1 $ 464 $ (270 ) Net realized gains/(losses) on investments Other-than-temporary impairment — 5 (1,600 ) (8 ) Net realized gains/(losses) on investments 142 6 (1,136 ) (278 ) Income before income taxes (50 ) (2 ) 398 97 Income tax expense $ 92 $ 4 $ (738 ) $ (181 ) Net income

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	At September 30, 2015, assets and liabilities measured at fair value on a recurring basis are summarized below: September 30, 2015 Level 1 Level 2 Level 3 Total Fair (in thousands) Financial instruments carried at fair value, classified as a part of: Other investments $ — $ — $ 11,759 $ 11,759 Securities available for sale—equity: Domestic common stock 31 — — 31 Securities available for sale—fixed maturity: States and political subdivisions — 172,758 — 172,758 Corporate bonds — 189,480 — 189,480 U.S. agency-based mortgage-backed securities — 7,595 — 7,595 Total securities available for sale—fixed maturity — 369,833 — 369,833 Total available for sale $ 31 $ 369,833 $ 11,759 $ 381,623 At December 31, 2014, assets and liabilities measured at fair value on a recurring basis are summarized below: December 31, 2014 Level 1 Level 2 Level 3 Total Fair (in thousands) Financial instruments carried at fair value, classified as part of: Other investments $ — $ — $ 11,748 $ 11,748 Securities available for sale—equity: Domestic common stock 28 — — 28 Securities available for sale—fixed maturity: States and political subdivisions — 157,374 — 157,374 U.S. agency-based mortgage-backed securities — 8,498 — 8,498 Corporate bonds — 165,370 — 165,370 Total available for sale—fixed maturity $ — $ 331,242 $ — $ 331,242 Total available for sale $ 28 $ 331,242 $ 11,748 $ 343,018
Schedule of Assets and Liabilities Measured at Amortized Cost	At September 30, 2015, assets and liabilities measured at amortized cost are summarized below: September 30, 2015 Level 1 Level 2 Level 3 Total Fair (in thousands) Securities held-to-maturity—fixed maturity States and political subdivisions $ — $ 433,916 $ — $ 433,916 Corporate bonds — 170,490 — 170,490 Commercial mortgage-backed securities — 43,982 — 43,982 U.S. agency-based mortgage-backed securities — 15,486 — 15,486 U.S. Treasury securities 13,439 — — 13,439 Asset-backed securities — 2,580 — 2,580 Total held-to-maturity $ 13,439 $ 666,454 $ — $ 679,893 At December 31, 2014, assets and liabilities measured at amortized cost are summarized below: December 31, 2014 Level 1 Level 2 Level 3 Total Fair (in thousands) Securities held-to-maturity—fixed maturity: States and political subdivisions $ — $ 405,665 $ — $ 405,665 Corporate bonds — 176,734 — 176,734 Commercial mortgage-backed securities — 48,529 — 48,529 U.S. agency-based mortgage-backed securities — 18,672 — 18,672 U.S. Treasury securities 11,792 — — 11,792 Asset-backed securities — 2,979 — 2,979 Total held-to-maturity $ 11,792 $ 652,579 $ — $ 664,371
Summary of Carrying Values and Corresponding Fair Values for Financial Instruments	The following table summarizes the carrying values and corresponding fair values for financial instruments: As of September 30, 2015 As of December 31, 2014 Carrying Amount Fair Value Carrying Amount Fair Value (in thousands) Assets: Fixed maturity securities—held-to-maturity $ 660,250 $ 679,893 $ 639,631 $ 664,371 Fixed maturity securities—available-for-sale 369,833 369,833 331,242 331,242 Equity securities 31 31 28 28 Cash and cash equivalents 99,899 99,899 90,956 90,956 Short-term investments 7,057 7,057 33,684 33,684 Other investments 11,759 11,759 11,748 11,748
Summary of Changes in Fair Value of Assets Measured at Fair Value	The following table presents summary information regarding changes in the fair value of assets measured at fair value using Level 3 input. Nine Months Ended Twelve Months Ended September 30, 2015 December 31, 2014 (in thousands) Beginning balance $ 11,748 $ 10,591 Total unrealized gains 11 1,157 Ending balance $ 11,759 $ 11,748

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Percentage of comparable consolidated amounts	95.00%	95.00%

Stock Options and Restricted 24

Stock Options and Restricted Stock - Additional Information (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)Incentive_Planshares	Sep. 30, 2014USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity incentive plans | Incentive_Plan	3
Stock options exercised, Shares	156,850	204,667
Proceeds from stock option exercises | $	$ 1,277	$ 1,820
Share-based compensation expense | $	$ 700	1,000
2005 Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Plan expiration date	Oct. 27, 2015
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Market value of restricted shares granted | $		$ 400
Restricted Stock Units (RSUs) [Member] | 2012 Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Market value of restricted shares granted | $	$ 2,600
Restricted Stock Units (RSUs) [Member] | Executive Officers [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted common stock granted		4,312
Restricted Stock Units (RSUs) [Member] | Executive Officers [Member] | 2012 Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted common stock granted	50,461
Restricted Stock Units (RSUs) [Member] | Non-employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted common stock granted		4,866
Restricted Stock Units (RSUs) [Member] | Non-employee Directors [Member] | 2012 Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted common stock granted	7,112

Earnings Per Share - Calculatio

Earnings Per Share - Calculation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share, Basic [Abstract]
Net income available to common shareholders-basic	$ 17,940	$ 13,479	$ 47,389	$ 36,801
Basic weighted average common shares	18,968,718	18,676,033	18,911,675	18,603,227
Basic earnings per common share	$ 0.95	$ 0.72	$ 2.51	$ 1.98
Net income available to common shareholders-diluted	$ 17,940	$ 13,479	$ 47,389	$ 36,801
Weighted average common shares	18,968,718	18,676,033	18,911,675	18,603,227
Stock options and performance shares	127,541	253,744	176,465	302,653
Diluted weighted average common shares	19,096,259	18,929,777	19,088,140	18,905,880
Diluted earnings per common share	$ 0.94	$ 0.71	$ 2.48	$ 1.95

Investments - Gross Unrealized

Investments - Gross Unrealized Gains and Losses and Amortized Cost and Fair Value of Investments Classified as Held-to-Maturity (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Investment [Line Items]
Held-to-Maturity, Amortized Cost	$ 660,250	$ 639,631
Held-to-Maturity, Gross Unrealized Gains	20,139	25,404
Held-to-Maturity, Gross Unrealized Losses	(496)	(664)
Held-to-Maturity, Fair Value	679,893	664,371
States and Political Subdivisions [Member]
Investment [Line Items]
Held-to-Maturity, Amortized Cost	417,804	385,623
Held-to-Maturity, Gross Unrealized Gains	16,307	20,100
Held-to-Maturity, Gross Unrealized Losses	(195)	(58)
Held-to-Maturity, Fair Value	433,916	405,665
Corporate Bonds [Member]
Investment [Line Items]
Held-to-Maturity, Amortized Cost	170,176	176,880
Held-to-Maturity, Gross Unrealized Gains	555	374
Held-to-Maturity, Gross Unrealized Losses	(241)	(520)
Held-to-Maturity, Fair Value	170,490	176,734
Commercial Mortgage-Backed Securities [Member]
Investment [Line Items]
Held-to-Maturity, Amortized Cost	43,396	46,662
Held-to-Maturity, Gross Unrealized Gains	586	1,867
Held-to-Maturity, Fair Value	43,982	48,529
U.S. Agency-Based Mortgage-Backed Securities [Member]
Investment [Line Items]
Held-to-Maturity, Amortized Cost	14,094	16,972
Held-to-Maturity, Gross Unrealized Gains	1,393	1,702
Held-to-Maturity, Gross Unrealized Losses	(1)	(2)
Held-to-Maturity, Fair Value	15,486	18,672
U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member]
Investment [Line Items]
Held-to-Maturity, Amortized Cost	12,365	10,697
Held-to-Maturity, Gross Unrealized Gains	1,074	1,097
Held-to-Maturity, Gross Unrealized Losses		(2)
Held-to-Maturity, Fair Value	13,439	11,792
Asset-Backed Securities [Member]
Investment [Line Items]
Held-to-Maturity, Amortized Cost	2,415	2,797
Held-to-Maturity, Gross Unrealized Gains	224	264
Held-to-Maturity, Gross Unrealized Losses	(59)	(82)
Held-to-Maturity, Fair Value	$ 2,580	$ 2,979

Investments - Gross Unrealize27

Investments - Gross Unrealized Gains and Losses and Cost or Amortized Cost and Fair Value of Investments Classified as Available-for-Sale (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Investment [Line Items]
Available-for-Sale, Cost or Amortized Cost	$ 374,748	$ 337,004
Available-for-Sale, Gross Unrealized Gains	9,244	9,508
Available-for-Sale, Gross Unrealized Losses	(2,369)	(3,494)
Available-for-Sale, Fair Value	381,623	343,018
Total Fixed Maturity [Member]
Investment [Line Items]
Available-for-Sale, Cost or Amortized Cost	364,748	327,004
Available-for-Sale, Gross Unrealized Gains	7,454	7,732
Available-for-Sale, Gross Unrealized Losses	(2,369)	(3,494)
Available-for-Sale, Fair Value	369,833	331,242
Other Investments [Member]
Investment [Line Items]
Available-for-Sale, Cost or Amortized Cost	10,000	10,000
Available-for-Sale, Gross Unrealized Gains	1,759	1,748
Available-for-Sale, Fair Value	11,759	11,748
States and Political Subdivisions [Member]
Investment [Line Items]
Available-for-Sale, Cost or Amortized Cost	166,520	151,744
Available-for-Sale, Gross Unrealized Gains	6,685	7,302
Available-for-Sale, Gross Unrealized Losses	(447)	(1,672)
Available-for-Sale, Fair Value	172,758	157,374
Corporate Bonds [Member]
Investment [Line Items]
Available-for-Sale, Cost or Amortized Cost	189,169	165,412
Available-for-Sale, Gross Unrealized Gains	762	428
Available-for-Sale, Gross Unrealized Losses	(451)	(470)
Available-for-Sale, Fair Value	189,480	165,370
U.S. Agency-Based Mortgage-Backed Securities [Member]
Investment [Line Items]
Available-for-Sale, Cost or Amortized Cost	9,059	9,848
Available-for-Sale, Gross Unrealized Gains	7	2
Available-for-Sale, Gross Unrealized Losses	(1,471)	(1,352)
Available-for-Sale, Fair Value	7,595	8,498
Equity Securities [Member]
Investment [Line Items]
Available-for-Sale, Gross Unrealized Gains	31	28
Available-for-Sale, Fair Value	$ 31	$ 28

Investments - Summary of Amorti

Investments - Summary of Amortized Cost and Fair Value of Investments in Fixed Maturity Securities, Classified as Held-to-Maturity (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Investment [Line Items]
Within one year, Amortized Cost Basis	$ 125,030
After one year through five years, Amortized Cost Basis	281,139
After five years through ten years, Amortized Cost Basis	123,928
After ten years, Amortized Cost Basis	70,248
Held-to-Maturity, Amortized Cost	660,250	$ 639,631
Within one year, Fair Value	125,807
After one year through five years, Fair Value	289,630
After five years through ten years, Fair Value	129,689
After ten years, Fair Value	72,719
Total, Fair Value	679,893	$ 664,371
U.S. Agency-Based Mortgage-Backed Securities [Member]
Investment [Line Items]
Held-to-maturity, Amortized Cost Basis	14,094
Held-to-maturity, Fair Value	15,486
Commercial Mortgage-Backed Securities [Member]
Investment [Line Items]
Held-to-maturity, Amortized Cost Basis	43,396
Held-to-maturity, Fair Value	43,982
Asset-Backed Securities [Member]
Investment [Line Items]
Held-to-maturity, Amortized Cost Basis	2,415
Held-to-maturity, Fair Value	$ 2,580

Investments - Summary of Amor29

Investments - Summary of Amortized Cost and Fair Value of Investments in Fixed Maturity Securities, Classified as Available-for-Sale (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Investment [Line Items]
Due in 2015, Amortized Cost Basis	$ 31,131
In 2016 through 2019, Amortized Cost Basis	183,756
In 2020 through 2024, Amortized Cost Basis	25,294
After 2024, Amortized Cost Basis	115,508
Total , Amortized Cost Basis	364,748	$ 327,004
Due in 2015, Fair Value	31,258
In 2016 through 2019, Fair Value	185,173
In 2020 through 2024, Fair Value	25,470
After 2024, Fair Value	120,337
Total, Fair Value	369,833	$ 331,242
U.S. Agency-Based Mortgage-Backed Securities [Member]
Investment [Line Items]
Available-for-sale securities, Amortized Cost Basis	9,059
Available-for-sale securities, Fair value	$ 7,595

Investments - Investment Securi

Investments - Investment Securities Continuous Unrealized Loss Position (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Investment [Line Items]
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	$ 88,724	$ 150,147
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less Than Twelve Months, Accumulated Loss	388	582
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	21,755	1,662
Held-to-maturity Securities, Continuous Unrealized Loss Position Twelve Months Or Longer, Accumulated Loss	108	82
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value	110,479	151,809
Held-to-maturity Securities, Gross Unrealized Losses	496	664
Available-for Sale, Fair value of Investments with Unrealized Losses, Less Than 12 Months	58,293	110,622
Available-for Sale, Gross Unrealized Losses, Less Than 12 Months	527	487
Available-for Sale, Fair Value of Investments with Unrealized Losses, 12 Months or Greater	15,527	18,104
Available-for Sale, Gross Unrealized Losses, 12 Months or Greater	1,842	3,007
Available-for Sale, Fair Value of Investments with Unrealized Losses, Total	73,820	128,726
Available-for Sale, Gross Unrealized Losses, Total	2,369	3,494
Fair Value of Investments with Unrealized Losses, Less Than 12 months	147,017	260,769
Gross Unrealized Loss, Less Than 12 Months	915	1,069
Fair Value of Investments with Unrealized Losses, 12 Months or Greater	37,282	19,766
Gross Unrealized Losses, 12 Months or Greater	1,950	3,089
Fair Value of Investments with Unrealized Losses, Total	184,299	280,535
Gross Unrealized Losses, Total	2,865	4,158
U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member]
Investment [Line Items]
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value		3,385
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less Than Twelve Months, Accumulated Loss		2
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value		3,385
Held-to-maturity Securities, Gross Unrealized Losses		2
Corporate Bonds [Member]
Investment [Line Items]
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	52,041	129,788
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less Than Twelve Months, Accumulated Loss	192	520
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	20,270
Held-to-maturity Securities, Continuous Unrealized Loss Position Twelve Months Or Longer, Accumulated Loss	49
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value	72,311	129,788
Held-to-maturity Securities, Gross Unrealized Losses	241	520
Available-for Sale, Fair value of Investments with Unrealized Losses, Less Than 12 Months	46,388	106,185
Available-for Sale, Gross Unrealized Losses, Less Than 12 Months	440	470
Available-for Sale, Fair Value of Investments with Unrealized Losses, 12 Months or Greater	4,241
Available-for Sale, Gross Unrealized Losses, 12 Months or Greater	11
Available-for Sale, Fair Value of Investments with Unrealized Losses, Total	50,629	106,185
Available-for Sale, Gross Unrealized Losses, Total	451	470
States and Political Subdivisions [Member]
Investment [Line Items]
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	36,630	16,896
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less Than Twelve Months, Accumulated Loss	195	58
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value	36,630	16,896
Held-to-maturity Securities, Gross Unrealized Losses	195	58
Available-for Sale, Fair value of Investments with Unrealized Losses, Less Than 12 Months	11,419	3,810
Available-for Sale, Gross Unrealized Losses, Less Than 12 Months	61	6
Available-for Sale, Fair Value of Investments with Unrealized Losses, 12 Months or Greater	4,263	10,347
Available-for Sale, Gross Unrealized Losses, 12 Months or Greater	386	1,666
Available-for Sale, Fair Value of Investments with Unrealized Losses, Total	15,682	14,157
Available-for Sale, Gross Unrealized Losses, Total	447	1,672
U.S. Agency-Based Mortgage-Backed Securities [Member]
Investment [Line Items]
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	53	78
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less Than Twelve Months, Accumulated Loss	1	2
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	5
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value	58	78
Held-to-maturity Securities, Gross Unrealized Losses	1	2
Available-for Sale, Fair value of Investments with Unrealized Losses, Less Than 12 Months	486	627
Available-for Sale, Gross Unrealized Losses, Less Than 12 Months	26	11
Available-for Sale, Fair Value of Investments with Unrealized Losses, 12 Months or Greater	7,023	7,757
Available-for Sale, Gross Unrealized Losses, 12 Months or Greater	1,445	1,341
Available-for Sale, Fair Value of Investments with Unrealized Losses, Total	7,509	8,384
Available-for Sale, Gross Unrealized Losses, Total	1,471	1,352
Asset-Backed Securities [Member]
Investment [Line Items]
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	1,480	1,662
Held-to-maturity Securities, Continuous Unrealized Loss Position Twelve Months Or Longer, Accumulated Loss	59	82
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value	1,480	1,662
Held-to-maturity Securities, Gross Unrealized Losses	$ 59	$ 82

Investments - Additional Inform

Investments - Additional Information (Detail) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)Securities	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)Securities	Sep. 30, 2014USD ($)
Investments Schedule [Abstract]
Individual fixed maturity held in unrealized loss position | Securities	121		121
Individual fixed maturity held in unrealized loss position longer than 12 months | Securities	28		28
Carrying value of investments	$ 11,800		$ 11,800
Number of fixed maturity securities to be deemed other-than-temporarily impaired | Securities	4		4
Impairment losses recognized			$ 2,700	$ 200
Net realized gains/(losses) on investments	$ 40	$ (152)	$ (2,518)	181
Net realized gain(loss)outside OTTI				$ 400

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 0
Company recognized uncertain tax positions	$ 0	$ 0

Comprehensive Income and Accu33

Comprehensive Income and Accumulated Other Comprehensive Income - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Comprehensive income	$ 19,248	$ 13,596	$ 47,939	$ 43,174
Comprehensive income tax rate			35.00%

Comprehensive Income and Accu34

Comprehensive Income and Accumulated Other Comprehensive Income - Schedule of Changes in Accumulated Other Comprehensive Income (AOCI) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Beginning balance	$ 2,052	$ 1,961	$ 2,810	$ (4,295)
Other comprehensive income/(loss) before reclassification	1,400	121	(188)	6,192
Amounts reclassified from accumulated other comprehensive income	(92)	(4)	738	181
Net current period other comprehensive income/(loss)	1,308	117	550	6,373
Ending balance	$ 3,360	$ 2,078	$ 3,360	$ 2,078

Comprehensive Income and Accu35

Comprehensive Income and Accumulated Other Comprehensive Income - Reclassification Out of Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	$ 25,890	$ 19,348	$ 67,199	$ 49,813
Income tax expense	(7,950)	(5,869)	(19,810)	(13,012)
Net income	17,940	13,479	47,389	36,801
Changes in Net Unrealized Gains (Losses) on Investment Securities [Member] | Reclassification Out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Unrealized gains/(losses) on available-for-sale securities	142	1	464	(270)
Other-than-temporary impairment		5	(1,600)	(8)
Income before income taxes	142	6	(1,136)	(278)
Income tax expense	(50)	(2)	398	97
Net income	$ 92	$ 4	$ (738)	$ (181)

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value Measurements Disclosure [Line Items]
Securities available for sale/Available-for-sale, Fair value	$ 381,623	$ 343,018
Equity Securities [Member]
Fair Value Measurements Disclosure [Line Items]
Securities available for sale/Available-for-sale, Fair value	31	28
Other Investments [Member]
Fair Value Measurements Disclosure [Line Items]
Securities available for sale/Available-for-sale, Fair value	11,759	11,748
Fair Value, Measurements, Recurring [Member]
Fair Value Measurements Disclosure [Line Items]
Securities available for sale/Available-for-sale, Fair value	381,623	343,018
Fair Value, Measurements, Recurring [Member] | Debt Securities [Member]
Fair Value Measurements Disclosure [Line Items]
Securities available for sale/Available-for-sale, Fair value	369,833	331,242
Fair Value, Measurements, Recurring [Member] | Other Investments [Member]
Fair Value Measurements Disclosure [Line Items]
Securities available for sale/Available-for-sale, Fair value	11,759	11,748
Fair Value, Measurements, Recurring [Member] | Common Stock [Member] | Equity Securities [Member]
Fair Value Measurements Disclosure [Line Items]
Securities available for sale/Available-for-sale, Fair value	31	28
Fair Value, Measurements, Recurring [Member] | States and Political Subdivisions [Member] | Debt Securities [Member]
Fair Value Measurements Disclosure [Line Items]
Securities available for sale/Available-for-sale, Fair value	172,758	157,374
Fair Value, Measurements, Recurring [Member] | U.S. Agency-Based Mortgage-Backed Securities [Member] | Debt Securities [Member]
Fair Value Measurements Disclosure [Line Items]
Securities available for sale/Available-for-sale, Fair value	7,595	8,498
Fair Value, Measurements, Recurring [Member] | Corporate Bonds [Member] | Debt Securities [Member]
Fair Value Measurements Disclosure [Line Items]
Securities available for sale/Available-for-sale, Fair value	189,480	165,370
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value Measurements Disclosure [Line Items]
Securities available for sale/Available-for-sale, Fair value	31	28
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Common Stock [Member] | Equity Securities [Member]
Fair Value Measurements Disclosure [Line Items]
Securities available for sale/Available-for-sale, Fair value	31	28
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value Measurements Disclosure [Line Items]
Securities available for sale/Available-for-sale, Fair value	369,833	331,242
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Debt Securities [Member]
Fair Value Measurements Disclosure [Line Items]
Securities available for sale/Available-for-sale, Fair value	369,833	331,242
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | States and Political Subdivisions [Member] | Debt Securities [Member]
Fair Value Measurements Disclosure [Line Items]
Securities available for sale/Available-for-sale, Fair value	172,758	157,374
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | U.S. Agency-Based Mortgage-Backed Securities [Member] | Debt Securities [Member]
Fair Value Measurements Disclosure [Line Items]
Securities available for sale/Available-for-sale, Fair value	7,595	8,498
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Corporate Bonds [Member] | Debt Securities [Member]
Fair Value Measurements Disclosure [Line Items]
Securities available for sale/Available-for-sale, Fair value	189,480	165,370
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value Measurements Disclosure [Line Items]
Securities available for sale/Available-for-sale, Fair value	11,759	11,748
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Other Investments [Member]
Fair Value Measurements Disclosure [Line Items]
Securities available for sale/Available-for-sale, Fair value	$ 11,759	$ 11,748

Fair Value Measurements - Sch37

Fair Value Measurements - Schedule of Assets and Liabilities Measured at Amortized Cost (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value Measurements Disclosure [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	$ 679,893	$ 664,371
States and Political Subdivisions [Member]
Fair Value Measurements Disclosure [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	433,916	405,665
Corporate Bonds [Member]
Fair Value Measurements Disclosure [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	170,490	176,734
Commercial Mortgage-Backed Securities [Member]
Fair Value Measurements Disclosure [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	43,982	48,529
U.S. Agency-Based Mortgage-Backed Securities [Member]
Fair Value Measurements Disclosure [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	15,486	18,672
US Treasury Securities [Member]
Fair Value Measurements Disclosure [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	13,439	11,792
Asset-Backed Securities [Member]
Fair Value Measurements Disclosure [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	2,580	2,979
Fair Value, Inputs, Level 1 [Member]
Fair Value Measurements Disclosure [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	13,439	11,792
Fair Value, Inputs, Level 1 [Member] | US Treasury Securities [Member]
Fair Value Measurements Disclosure [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	13,439	11,792
Fair Value, Inputs, Level 2 [Member]
Fair Value Measurements Disclosure [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	666,454	652,579
Fair Value, Inputs, Level 2 [Member] | States and Political Subdivisions [Member]
Fair Value Measurements Disclosure [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	433,916	405,665
Fair Value, Inputs, Level 2 [Member] | Corporate Bonds [Member]
Fair Value Measurements Disclosure [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	170,490	176,734
Fair Value, Inputs, Level 2 [Member] | Commercial Mortgage-Backed Securities [Member]
Fair Value Measurements Disclosure [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	43,982	48,529
Fair Value, Inputs, Level 2 [Member] | U.S. Agency-Based Mortgage-Backed Securities [Member]
Fair Value Measurements Disclosure [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	15,486	18,672
Fair Value, Inputs, Level 2 [Member] | Asset-Backed Securities [Member]
Fair Value Measurements Disclosure [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	$ 2,580	$ 2,979

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Carrying Values and Corresponding Fair Values for Financial Instruments (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities-held-to-maturity	$ 679,893	$ 664,371
Fixed maturity securities-held-to-maturity	660,250	639,631
Fixed maturity securities-available-for-sale	369,833	331,242
Equity securities	31	28
Short-term investments	7,057	33,684
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities-held-to-maturity	660,250	639,631
Fixed maturity securities-available-for-sale	369,833	331,242
Equity securities	31	28
Cash and cash equivalents	99,899	90,956
Short-term investments	7,057	33,684
Other investments	11,759	11,748
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities-held-to-maturity	679,893	664,371
Fixed maturity securities-available-for-sale	369,833	331,242
Equity securities	31	28
Cash and cash equivalents	99,899	90,956
Short-term investments	7,057	33,684
Other investments	$ 11,759	$ 11,748

Fair Value Measurements - Sum39

Fair Value Measurements - Summary of Changes in Fair Value of Assets Measured at Fair Value (Detail) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Fair Value Measurements Disclosure [Line Items]
Beginning balance	$ 11,748	$ 10,591
Total unrealized gains	11	1,157
Ending balance	$ 11,759	$ 11,748

Treasury Stock - Additional Inf

Treasury Stock - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Equity [Abstract]
Share repurchase new limit amount	$ 25,000,000
Share repurchase program expiration date	Dec. 31, 2016
Stock repurchase program authorization date	Oct. 27, 2015
Shares repurchased	1,258,250	1,258,250
Shares repurchased, value	$ 22,400,000
Shares repurchased, average price	$ 17.78

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - American Interstate Insurance Company [Member] - Iowa [Member] - USD ($) $ in Millions	1 Months Ended
	Feb. 28, 2015	Sep. 30, 2015
Loss Contingencies [Line Items]
Appeal bond		$ 27.8
2009 Workers' Compensation Claim [Member]
Loss Contingencies [Line Items]
Workers compensation claim, damages awarded	$ 25.3
Workers compensation claims contingency reserves		$ 2.6
Plaintiff Seeking Actual Damages [Member]
Loss Contingencies [Line Items]
Amount of damages	0.3
Plaintiff Seeking Punitive Damages [Member]
Loss Contingencies [Line Items]
Amount of damages	$ 25

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($)	Oct. 27, 2015	Sep. 30, 2015	Sep. 30, 2014
Subsequent Event [Line Items]
Extraordinary cash dividends declared per common share			$ 0.50
Share repurchase new limit amount		$ 25,000,000
Share repurchase program expiration date		Dec. 31, 2016
Subsequent Event [Member]
Subsequent Event [Line Items]
Share repurchase new limit amount	$ 25,000,000
Share repurchase program expiration date	Dec. 31, 2016
Dividend Declared [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Cash dividend per share	$ 0.15
Date of payment to shareholders entitled to dividends	Dec. 28, 2015
Date of record of shareholders entitled to dividends	Dec. 14, 2015
Extraordinary Dividend [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Date of payment to shareholders entitled to dividends	Dec. 28, 2015
Date of record of shareholders entitled to dividends	Dec. 14, 2015
Extraordinary cash dividends declared per common share	$ 3