Employers (EIG) 10-Q 30 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 23, 2015
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Entity Registrant Name	Employers Holdings, Inc.
Entity Central Index Key	1,379,041
Current Fiscal Year End Date	--12-31
Entity Well Know Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock Shares Outstanding		32,036,774
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Available for sale:
Fixed maturity securities at fair value (amortized cost $2,211,200 at June 30, 2015 and $2,186,100 at December 31, 2014)	$ 2,281,800	$ 2,275,700
Equity securities at fair value (cost $150,300 at June 30, 2015 and $97,800 at December 31, 2014)	217,300	172,700
Short-term investments at fair value (amortized cost $18,500 at June 30, 2015)	18,500	0
Total investments	2,517,600	2,448,400
Cash and cash equivalents	64,900	103,600
Restricted cash and cash equivalents	6,600	10,800
Accrued investment income	20,600	20,500
Premiums receivable (less bad debt allowance of $10,300 at June 30, 2015 and $7,900 at December 31, 2014)	314,600	295,800
Reinsurance recoverable for:
Paid losses	7,500	10,700
Unpaid losses	640,900	669,500
Deferred policy acquisition costs	48,100	44,600
Deferred income taxes, net	55,400	49,700
Property and equipment, net	23,200	21,000
Intangible assets, net	8,800	9,000
Goodwill	36,200	36,200
Contingent commission receivable—LPT Agreement	29,200	26,400
Other assets	37,800	23,500
Total assets	3,811,400	3,769,700
Claims and policy liabilities:
Unpaid losses and loss adjustment expenses	2,354,500	2,369,700
Unearned premiums	341,400	310,800
Total claims and policy liabilities	2,695,900	2,680,500
Commissions and premium taxes payable	48,800	46,300
Accounts payable and accrued expenses	16,400	20,400
Deferred reinsurance gain—LPT Agreement	195,100	207,000
Notes payable	92,000	92,000
Other liabilities	48,700	36,700
Total liabilities	$ 3,096,900	$ 3,082,900
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.01 par value; 150,000,000 shares authorized; 55,409,748 and 54,866,802 shares issued and 32,036,774 and 31,493,828 shares outstanding at June 30, 2015 and December 31, 2014, respectively	$ 600	$ 600
Preferred stock, $0.01 par value; 25,000,000 shares authorized; none issued	0	0
Additional paid-in capital	352,300	346,600
Retained earnings	634,700	595,300
Accumulated other comprehensive income, net	89,500	106,900
Treasury stock, at cost (23,372,974 shares at June 30, 2015 and December 31, 2014)	(362,600)	(362,600)
Total stockholders’ equity	714,500	686,800
Total liabilities and stockholders’ equity	$ 3,811,400	$ 3,769,700

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Available for sale:
Fixed maturity securities, amortized cost	$ 2,380,000	$ 2,283,900
Available for sale, short-term investments, at amortized cost	18,500	0
Premiums receivable, bad debt allowance	10,300	7,900
Reinsurance Recoverables on Unpaid Losses, Allowance	$ 0	$ 0
Stockholders' equity
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	55,409,748	54,866,802
Common stock, shares outstanding (in shares)	32,036,774	31,493,828
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred stock, shares issued (in shares)	0	0
Treasury stock, at cost (in shares)	23,372,974	23,372,974
Debt Securities [Member]
Available for sale:
Fixed maturity securities, amortized cost	$ 2,211,200	$ 2,186,100
Equity Securities [Member]
Available for sale:
Fixed maturity securities, amortized cost	150,300	$ 97,800
Short-term Investments [Member]
Available for sale:
Fixed maturity securities, amortized cost	$ 18,500

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues
Net premiums earned	$ 170,600	$ 172,600	$ 329,600	$ 339,900
Net investment income	18,400	18,300	35,300	36,300
Net realized gains on investments	1,900	9,200	3,100	12,400
Other income	0	200	100	200
Total revenues	190,900	200,300	368,100	388,800
Expenses
Losses and loss adjustment expenses	101,500	98,500	207,700	220,800
Commission expense	22,900	20,400	41,600	40,400
Underwriting and other operating expenses	32,500	33,100	66,000	66,400
Interest expense	700	700	1,400	1,500
Total expenses	157,600	152,700	316,700	329,100
Net income before income taxes	33,300	47,600	51,400	59,700
Income tax expense	4,100	2,000	8,200	3,300
Net income	$ 29,200	$ 45,600	$ 43,200	$ 56,400
Earnings per common share (Note 11):
Basic	$ 0.91	$ 1.45	$ 1.35	$ 1.79
Diluted	0.90	1.42	1.33	1.76
Cash dividends declared per common share	$ 0.06	$ 0.06	$ 0.12	$ 0.12
Comprehensive income
Unrealized (losses) gains during the period (net of tax (benefit) expense of $(13,300) and $8,600 for the three months ended June 30, 2015 and 2014, respectively, and $(8,300) and $14,100 for the six months ended June 30, 2015 and 2014, respectively)	$ (24,600)	$ 16,100	$ (15,400)	$ 26,300
Reclassification adjustment for realized gains in net income (net of taxes of $700 and $3,200 for the three months ended June 30, 2015 and 2014, respectively, and $1,100 and $4,300 for the six months ended June 30, 2015 and 2014, respectively)	(1,200)	(6,000)	(2,000)	(8,100)
Other comprehensive (loss) income, net of tax	(25,800)	10,100	(17,400)	18,200
Total comprehensive income	3,400	55,700	25,800	74,600
Net realized gains on investments
Net realized gains on investments before credit related impairments	2,000	9,200	3,200	12,400
Other than temporary impairment, credit losses recognized in earnings	(100)	0	(100)	0
Net realized gains on investments	$ 1,900	$ 9,200	$ 3,100	$ 12,400

Conolidated Statements of Compr

Conolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement Parenthetical [Abstract]
Other comprehensive income (loss), unrealized holding gain (loss) on securities arising during period, tax	$ (13,300)	$ 8,600	$ (8,300)	$ 14,100
Other comprehensive income (loss), reclassification adjustment for sale of securities included in net income, tax	$ 700	$ 3,200	$ 1,100	$ 4,300

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Operating activities
Net income	$ 43,200	$ 56,400
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	3,600	3,500
Stock-based compensation	2,700	3,500
Amortization of premium on investments, net	6,100	5,100
Deferred income tax expense	3,700	300
Realized gains on investments, net	(3,100)	(12,400)
Excess tax benefits from stock-based compensation	(700)	(1,200)
Other	2,500	0
Change in operating assets and liabilities:
Premiums receivable	(21,200)	(43,000)
Reinsurance recoverable for paid and unpaid losses	31,800	43,200
Federal income taxes	0	3,300
Unpaid losses and loss adjustment expenses	(15,200)	24,300
Unearned premiums	30,600	35,700
Accounts payable, accrued expenses and other liabilities	8,000	9,000
Deferred reinsurance gain—LPT Agreement	(11,900)	(26,000)
Contingent commission receivable—LPT Agreement	(2,800)	(9,300)
Other	(14,900)	(14,300)
Net cash provided by operating activities	62,400	78,100
Investing activities
Purchase of fixed maturity securities	(256,600)	(215,900)
Purchase of equity securities	(65,700)	(14,200)
Proceeds from sale of fixed maturity securities	50,700	38,000
Proceeds from sale of equity securities	16,300	21,300
Proceeds from maturities and redemptions of investments	156,300	100,700
Capital expenditures	(5,600)	(2,400)
Change in restricted cash and cash equivalents	4,200	(1,900)
Net cash used in investing activities	(100,400)	(74,400)
Financing activities
Cash transactions related to stock-based compensation	2,400	1,400
Dividends paid to stockholders	(3,800)	(3,800)
Excess tax benefits from stock-based compensation, financing activities	700	1,200
Net cash used in financing activities	(700)	(1,200)
Net (decrease) increase in cash and cash equivalents	(38,700)	2,500
Cash and cash equivalents at the beginning of the period	103,600	34,500
Cash and cash equivalents at the end of the period	$ 64,900	$ 37,000

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Basis of Presentation [Abstract]
Basis of Presentation	Basis of Presentation and Summary of Operations Employers Holdings, Inc. (EHI) is a Nevada holding company. Through its wholly owned insurance subsidiaries, Employers Insurance Company of Nevada (EICN), Employers Compensation Insurance Company (ECIC), Employers Preferred Insurance Company (EPIC), and Employers Assurance Company (EAC), EHI is engaged in the commercial property and casualty insurance industry, specializing in workers' compensation products and services. Unless otherwise indicated, all references to the “Company” refer to EHI, together with its subsidiaries. The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities Exchange Act of 1934, as amended. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal, recurring adjustments) necessary for a fair presentation of the Company’s consolidated financial position and results of operations for the periods presented have been included. The results of operations for an interim period are not necessarily indicative of the results for an entire year. These financial statements have been prepared consistent with the accounting policies described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 . The Company considers an operating segment to be any component of its business whose operating results are regularly reviewed by the Company’s chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance based on discrete financial information. Currently, the Company has one operating segment, workers’ compensation insurance and related services. Use of Estimates The preparation of the consolidated 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 consolidated financial statements, as well as the reported amounts of revenues and expenses during the reporting period. As a result, actual results could differ from these estimates. The most significant areas that require management judgment are the estimate of unpaid losses and loss adjustment expenses (LAE), evaluation of reinsurance recoverables, recognition of premium revenue, deferred income taxes, valuation of investments, and the valuation of goodwill and intangible assets.

Changes in Estimates Level 1 (N

Changes in Estimates Level 1 (Notes)	6 Months Ended
	Jun. 30, 2015
Changes in Estimates [Abstract]
Accounting Changes and Error Corrections	Change in Estimates During the second quarter of 2015, the Company reduced its estimated reserves ceded under the Loss Portfolio Transfer Agreement (LPT Reserve Adjustment) as a result of the determination that an adjustment was necessary to reflect observed favorable paid loss trends. The following table shows the financial statement impact related to the reduction in estimated reserves ceded under the Loss Portfolio Transfer Agreement (LPT Agreement). Three Months Ended Six Months Ended June 30, 2015 June 30, 2015 (in millions, except per share data) Change in estimated reserves ceded under the LPT Agreement $ (10.0 ) $ (10.0 ) Cumulative adjustment to the Deferred Gain (1) (6.4 ) (6.4 ) Net income impact of change in estimate 6.4 6.4 EPS impact of change in estimate Basic and Diluted 0.20 0.20 (1) The cumulative adjustment to the Deferred reinsurance gain–LPT Agreement (Deferred Gain) was also recognized in losses and LAE incurred in the Consolidated Statement of Comprehensive Income, so that the Deferred Gain reflects the balance that would have existed had the revised reserves been recognized at the inception of the LPT Agreement. During the three months ended June 30, 2015, the Company increased its estimate of contingent commission receivable – LPT Agreement (LPT Contingent Commission Adjustment) as a result of the determination that an adjustment was necessary to reflect observed favorable paid loss trends. The following table shows the impact to the Consolidated Statements of Comprehensive Income related to these changes in estimates. Three Months Ended Six Months Ended June 30, 2015 June 30, 2015 (in millions, except per share data) Change in estimate of contingent commission receivable – LPT Agreement $ 2.6 $ 2.8 Cumulative adjustment to the Deferred Gain (1) $ (2.4 ) $ (2.6 ) Net income impact of change in estimate 2.4 2.6 EPS impact of change in estimate Basic and Diluted 0.07 0.08 (1) The cumulative adjustment to the Deferred Gain was also recognized in losses and LAE incurred in the Consolidated Statement of Comprehensive Income, so that the Deferred Gain reflects the balance that would have existed had the revised reserves been recognized at the inception of the LPT Agreement. During the second quarter of 2015, the Company reallocated reserves from non-taxable periods prior to January 1, 2000 to taxable years, which reduced our effective tax rate (Note 6 ). This change in estimate was the result of the determination that a reallocation of reserves among accident years was appropriate to address the observed loss trends. The following table shows the financial statement impact of this change in estimate. Three Months Ended Six Months Ended June 30, 2015 June 30, 2015 (in millions, except per share data) Reserves reallocated to taxable years 19.4 19.4 Net income impact of change in estimate 2.5 2.5 EPS impact of change in estimate Basic and Diluted 0.08 0.08

New Accounting Standards (Notes

New Accounting Standards (Notes)	6 Months Ended
	Jun. 30, 2015
New Accounting Standards [Abstract]
New Accounting Standards	New Accounting Standards In April 2015, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) Number 2015-05, Intangibles - Goodwill and Other - Internal - Use Software (Subtopic 350-40). The update provides guidance to purchasers to assist in determining whether a cloud computing arrangement includes a software license and how to account for such an arrangement. This update becomes effective for annual reporting periods, including interim periods within those annual periods, beginning after December 15, 2015 and early adoption is permitted. The Company does not expect the adoption to have a material impact, if any, on its consolidated financial condition and results of operations. In May 2015, the Financial Accounting Standards Board issued ASU Number 2015-07, Fair Value Measurement (Topic 820). T his update removes the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value (NAV) per share. Additionally, this update removes the requirement to make certain disclosures for all investments that are eligible to be measured as a practical expedient at fair value using the NAV per share. This update becomes effective for annual reporting periods, including interim periods within those annual periods, beginning after December 15, 2015 and early adoption is permitted. As this update focuses only on disclosures, it will not impact the Company's consolidated financial condition and results of operations. In May 2015, the Financial Accounting Standards Board issued ASU Number 2015-09, Financial Services - Insurance (Topic 944). This update expands the breadth of disclosures that an insurance entity must provide about its short-duration insurance contracts. This expanded disclosure includes the presentation of incurred and paid claims development tables by accident year for a period of up to 10 years. This update becomes effective for annual reporting periods beginning after December 15, 2015 and interim periods beginning after December 15, 2016 and early adoption is permitted. As this update focuses only on disclosures, it will not impact the Company's consolidated financial condition and results of operations.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2015
Fair Value of Financial Instruments [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying value and the estimated fair value of the Company’s financial instruments were as follows: June 30, 2015 December 31, 2014 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value (in millions) Financial assets Investments $ 2,517.6 $ 2,517.6 $ 2,448.4 $ 2,448.4 Cash and cash equivalents 64.9 64.9 103.6 103.6 Restricted cash and cash equivalents 6.6 6.6 10.8 10.8 Financial liabilities Notes payable 92.0 95.7 92.0 97.8 Assets and liabilities recorded at fair value on the consolidated balance sheets are categorized based upon the levels of judgment associated with the inputs used to measure their fair value. Level inputs are defined as follows: • Level 1 - Inputs are unadjusted quoted market prices for identical assets or liabilities in active markets at the measurement date. • Level 2 - Inputs other than Level 1 prices that are observable for similar assets or liabilities through corroboration with market data at the measurement date. • Level 3 - Inputs that are unobservable that reflect management's best estimate of what willing market participants would use in pricing the assets or liabilities at the measurement date. Fair values of available-for-sale fixed maturity and equity securities are based on quoted market prices, where available. If quoted market prices and an estimate determined by using objectively verifiable information are unavailable, the Company produces an estimate of fair value based on internally developed valuation techniques, which, depending on the level of observable market inputs, will render the fair value estimate as Level 2 or Level 3. The Company bases all of its estimates of fair value for assets on the bid price, as it represents what a third-party market participant would be willing to pay in an arm's length transaction. These methods of valuation will only produce an estimate of fair value if there is objectively verifiable information to produce a valuation. If objectively verifiable information is not available, the Company would be required to produce an estimate of fair value using some of the same methodologies, making assumptions for market-based inputs that are unavailable. The Company's estimates of fair value for financial liabilities are based on a combination of the variable interest rates for the Company's existing line of credit and other notes with similar durations to discount the projection of future payments on notes payable. The fair value measurements for notes payable have been determined to be Level 2. The following table presents the items on the accompanying consolidated balance sheets that are stated at fair value and the corresponding fair value measurements. June 30, 2015 December 31, 2014 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 (in millions) Fixed maturity securities U.S. Treasuries $ — $ 158.7 $ — $ — $ 166.7 $ — U.S. Agencies — 38.1 — — 39.6 — States and municipalities — 799.9 — — 745.8 — Corporate securities — 903.7 — — 908.3 — Residential mortgage-backed securities — 262.8 — — 288.4 — Commercial mortgage-backed securities — 60.2 — — 65.4 — Asset-backed securities — 58.4 — — 61.5 — Total fixed maturity securities $ — $ 2,281.8 $ — $ — $ 2,275.7 $ — Equity securities $ 217.3 $ — $ — $ 172.7 $ — $ — Short-term investments $ — $ 18.5 $ — $ — $ — $ —

Investments

Investments	6 Months Ended
	Jun. 30, 2015
Investments [Abstract]
Investments	Investments The cost or amortized cost, gross unrealized gains, gross unrealized losses, and estimated fair value of the Company’s investments were as follows: Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (in millions) At June 30, 2015 Fixed maturity securities U.S. Treasuries $ 153.0 $ 5.7 $ — $ 158.7 U.S. Agencies 36.1 2.0 — 38.1 States and municipalities 766.5 36.1 (2.7 ) 799.9 Corporate securities 881.2 25.9 (3.4 ) 903.7 Residential mortgage-backed securities 255.7 8.5 (1.4 ) 262.8 Commercial mortgage-backed securities 60.3 0.5 (0.6 ) 60.2 Asset-backed securities 58.4 — — 58.4 Total fixed maturity securities 2,211.2 78.7 (8.1 ) 2,281.8 Equity securities 150.3 71.7 (4.7 ) 217.3 Short-term investments 18.5 — — 18.5 Total investments $ 2,380.0 $ 150.4 $ (12.8 ) $ 2,517.6 At December 31, 2014 Fixed maturity securities U.S. Treasuries $ 160.9 $ 5.8 $ — $ 166.7 U.S. Agencies 37.2 2.4 — 39.6 States and municipalities 701.6 44.4 (0.2 ) 745.8 Corporate securities 880.7 30.8 (3.2 ) 908.3 Residential mortgage-backed securities 278.6 10.6 (0.8 ) 288.4 Commercial mortgage-backed securities 65.5 0.5 (0.6 ) 65.4 Asset-backed securities 61.6 — (0.1 ) 61.5 Total fixed maturity securities 2,186.1 94.5 (4.9 ) 2,275.7 Equity securities 97.8 75.5 (0.6 ) 172.7 Total investments $ 2,283.9 $ 170.0 $ (5.5 ) $ 2,448.4 The amortized cost and estimated fair value of fixed maturity securities at June 30, 2015 , by contractual maturity, are shown below. Expected maturities differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Cost Estimated Fair Value (in millions) Due in one year or less $ 144.9 $ 146.0 Due after one year through five years 816.8 850.1 Due after five years through ten years 628.9 649.3 Due after ten years 246.2 255.0 Mortgage and asset-backed securities 374.4 381.4 Total $ 2,211.2 $ 2,281.8 The following is a summary of investments that have been in a continuous unrealized loss position for less than 12 months and those that have been in a continuous unrealized loss position for 12 months or greater as of June 30, 2015 and December 31, 2014 . June 30, 2015 December 31, 2014 Estimated Fair Value Gross Unrealized Losses Number of Issues Estimated Fair Value Gross Unrealized Losses Number of Issues (in millions, except number of issues data) Less than 12 months: Fixed maturity securities States and municipalities $ 184.4 $ (2.7 ) 45 $ 20.6 $ (0.2 ) 5 Corporate securities 220.8 (2.4 ) 82 109.9 (0.8 ) 42 Residential mortgage-backed securities 60.9 (1.1 ) 23 — — — Commercial mortgage-backed securities 25.8 (0.5 ) 9 — — — Total fixed maturity securities 491.9 (6.7 ) 159 130.5 (1.0 ) 47 Equity securities 70.9 (4.6 ) 57 10.1 (0.6 ) 15 Total less than 12 months $ 562.8 $ (11.3 ) 216 $ 140.6 $ (1.6 ) 62 12 months or greater: Fixed maturity securities Corporate securities $ 41.4 $ (1.0 ) 11 $ 129.4 $ (2.4 ) 39 Residential mortgage-backed securities 9.2 (0.3 ) 27 44.1 (0.8 ) 36 Commercial mortgage-backed securities 3.0 (0.1 ) 2 31.3 (0.6 ) 8 Asset-backed securities — — — 18.3 (0.1 ) 6 Total fixed maturity securities 53.6 (1.4 ) 40 223.1 (3.9 ) 89 Equity securities 0.8 (0.1 ) 4 — — — Total 12 months or greater $ 54.4 $ (1.5 ) 44 $ 223.1 $ (3.9 ) 89 Total available-for-sale: Fixed maturity securities States and municipalities $ 184.4 $ (2.7 ) 45 $ 20.6 $ (0.2 ) 5 Corporate securities 262.2 (3.4 ) 93 239.3 (3.2 ) 81 Residential mortgage-backed securities 70.1 (1.4 ) 50 44.1 (0.8 ) 36 Commercial mortgage-backed securities 28.8 (0.6 ) 11 31.3 (0.6 ) 8 Asset-backed securities — — — 18.3 (0.1 ) 6 Total fixed maturity securities 545.5 (8.1 ) 199 353.6 (4.9 ) 136 Equity securities 71.7 (4.7 ) 61 10.1 (0.6 ) 15 Total available-for-sale $ 617.2 $ (12.8 ) 260 $ 363.7 $ (5.5 ) 151 Based on reviews of the fixed maturity securities, the Company determined that unrealized losses for the six months ended June 30, 2015 were primarily the result of changes in prevailing interest rates and not the credit quality of the issuers. The fixed maturity securities whose total fair value was less than amortized cost were not determined to be other-than-temporarily impaired given the severity and duration of the impairment, the credit quality of the issuers, the Company’s intent to not sell the securities, and a determination that it is not more likely than not that the Company will be required to sell the securities until fair value recovers to above amortized cost, or maturity. Based on reviews of the equity securities, the Company recognized a total impairment of $0.1 million in the fair value of four equity securities for the six months ended June 30, 2015 , as a result of the severity and duration of the change in fair value of the securities. The remaining unrealized losses on equity securities were not considered to be other-than-temporary due to the financial condition and near-term prospects of the issuers. Net realized gains on investments and the change in unrealized gains (losses) on fixed maturity and equity securities are determined on a specific-identification basis and were as follows: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 (in millions) Net realized gains on investments Fixed maturity securities Gross gains $ 0.3 $ 0.1 $ 0.3 $ 0.8 Gross losses (0.2 ) — (0.2 ) — Net realized gains on fixed maturity securities $ 0.1 $ 0.1 $ 0.1 $ 0.8 Equity securities Gross gains $ 1.9 $ 9.1 $ 3.5 $ 11.6 Gross losses (0.1 ) — (0.5 ) — Net realized gains on equity securities $ 1.8 $ 9.1 $ 3.0 $ 11.6 Total $ 1.9 $ 9.2 $ 3.1 $ 12.4 Change in unrealized gains (losses) Fixed maturity securities $ (33.1 ) $ 18.0 $ (19.0 ) $ 31.3 Equity securities (6.7 ) (2.6 ) (7.8 ) (3.4 ) Total $ (39.8 ) $ 15.4 $ (26.8 ) $ 27.9 Net investment income was as follows: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 (in millions) Fixed maturity securities $ 17.9 $ 17.9 $ 34.3 $ 35.5 Equity securities 1.2 1.0 2.3 2.0 Gross investment income 19.1 18.9 36.6 37.5 Investment expenses (0.7 ) (0.6 ) (1.3 ) (1.2 ) Net investment income $ 18.4 $ 18.3 $ 35.3 $ 36.3 The Company is required by various state laws and regulations to keep securities or letters of credit in depository accounts with certain states in which it does business. As of June 30, 2015 and December 31, 2014 , securities having a fair value of $901.4 million and $783.9 million , respectively, were on deposit. These laws and regulations govern not only the amount, but also the types of securities that are eligible for deposit. The deposits are limited to fixed maturity securities in all states. Certain reinsurance contracts require Company funds to be held in trust for the benefit of the ceding reinsurer to secure the outstanding liabilities assumed by the Company. The fair value of fixed maturity securities held in trust for the benefit of ceding reinsurers at June 30, 2015 and December 31, 2014 was $31.0 million and $31.2 million , respectively. Pursuant to the Third Amended and Restated Credit Agreement with Wells Fargo (Amended Credit Facility), a portion of the Company's debt was secured by fixed maturity securities and restricted cash and cash equivalents that had a fair value of $75.1 million and $74.6 million at June 30, 2015 and December 31, 2014 , respectively.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Taxes [Abstract]
Income Taxes	Income Taxes Income tax expense for interim periods is measured using an estimated effective tax rate for the annual period. The following is a reconciliation of the federal statutory income tax rate to the Company’s effective tax rates for the periods presented. Six Months Ended June 30, 2015 2014 Expense computed at statutory rate 35.0 % 35.0 % Dividends received deduction and tax-exempt interest (8.0 ) (9.8 ) LPT deferred gain amortization (4.5 ) (8.0 ) LPT reserve adjustment (2.1 ) (8.1 ) Pre-privatization reserve adjustment, excluding LPT (4.9 ) (3.7 ) Other 0.5 0.1 Effective tax rate 16.0 % 5.5 %

Liability for Unpaid Losses and

Liability for Unpaid Losses and Loss Adjustment Expenses	6 Months Ended
	Jun. 30, 2015
Liability for Unpaid Losses and Loss Adjustment Expenses [Abstract]
Liability for Unpaid Losses and Loss Adjustment Expenses	Liability for Unpaid Losses and Loss Adjustment Expenses The following table represents a reconciliation of changes in the liability for unpaid losses and LAE. Six Months Ended June 30, 2015 2014 (in millions) Unpaid losses and LAE, gross of reinsurance, at beginning of period $ 2,369.7 $ 2,330.5 Less reinsurance recoverable, excluding bad debt allowance, on unpaid losses and LAE 669.5 743.1 Net unpaid losses and LAE at beginning of period 1,700.2 1,587.4 Losses and LAE, net of reinsurance, incurred during the period related to: Current period 221.1 252.8 Prior periods 1.4 3.3 Total net losses and LAE incurred during the period 222.5 256.1 Paid losses and LAE, net of reinsurance, related to: Current period 20.1 19.7 Prior periods 189.0 168.2 Total net paid losses and LAE during the period 209.1 187.9 Ending unpaid losses and LAE, net of reinsurance 1,713.6 1,655.6 Reinsurance recoverable, excluding bad debt allowance, on unpaid losses and LAE 640.9 699.2 Unpaid losses and LAE, gross of reinsurance, at end of period $ 2,354.5 $ 2,354.8 Total net losses and LAE included in the above table excludes the impact of the aggregate of amortization of the deferred reinsurance gain—LPT Agreement, LPT Reserve Adjustments, and LPT Contingent Commission Adjustments, which totaled $14.8 million and $35.3 million for the six months ended June 30, 2015 and 2014 , respectively (Note 8 ). The increase in the estimates of incurred losses and LAE attributable to insured events for prior periods was related to the Company's assigned risk business.

LPT Agreement

LPT Agreement	6 Months Ended
	Jun. 30, 2015
LPT Agreement [Abstract]
LPT Agreement	LPT Agreement The Company is party to a 100% quota share retroactive reinsurance agreement (LPT Agreement) under which $1.5 billion in liabilities for losses and LAE related to claims incurred by EICN prior to July 1, 1995 were reinsured for consideration of $775.0 million . The LPT Agreement provides coverage up to $2.0 billion . The initial Deferred Gain resulting from the LPT Agreement was recorded as a liability in the accompanying consolidated balance sheets as Deferred reinsurance gain–LPT Agreement. The Company is also entitled to receive a contingent profit commission under the LPT Agreement. The contingent profit commission is an amount based on the favorable difference between actual paid losses and LAE and expected paid losses and LAE as established in the LPT Agreement. The Company records its estimate of contingent profit commission in the accompanying consolidated balance sheets as Contingent commission receivable–LPT Agreement and a corresponding liability is recorded on the accompanying consolidated balance sheets in Deferred reinsurance gain–LPT Agreement. The Deferred Gain is being amortized using the recovery method. Amortization is determined by the proportion of actual reinsurance recoveries to total estimated recoveries over the life of the LPT Agreement, except for the contingent profit commission, which is amortized through June 30, 2024, the date through which the Company is entitled to receive a contingent profit commission under the LPT Agreement. The amortization is recorded in losses and LAE incurred in the accompanying consolidated statements of comprehensive income. Any adjustments to the Deferred Gain are recorded in losses and LAE incurred in the accompanying consolidated statements of comprehensive income. The Company amortized $5.8 million and $6.9 million of the Deferred Gain for the six months ended June 30, 2015 and 2014 , respectively. Additionally, the Deferred Gain was reduced by $6.4 million and $20.8 million for the six months ended June 30, 2015 and 2014 , respectively, due to a favorable LPT Reserve Adjustment and by $2.6 million and $7.6 million for the six months ended June 30, 2015 and 2014 , respectively, due to favorable LPT Contingent Commission Adjustments. The remaining Deferred Gain was $195.1 million and $207.0 million as of June 30, 2015 and December 31, 2014 , respectively. The estimated remaining liabilities subject to the LPT Agreement were $511.2 million and $534.8 million as of June 30, 2015 and December 31, 2014 , respectively. Losses and LAE paid with respect to the LPT Agreement totaled $682.0 million and $668.4 million from inception through June 30, 2015 and December 31, 2014 , respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2015
Accumulated Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income, Net	Accumulated Other Comprehensive Income, net Accumulated other comprehensive income, net, is comprised of unrealized gains on investments classified as available-for-sale, net of deferred tax expense. The following table summarizes the components of accumulated other comprehensive income, net: June 30, 2015 December 31, 2014 (in millions) Net unrealized gain on investments, before taxes $ 137.7 $ 164.5 Deferred tax expense on net unrealized gains (48.2 ) (57.6 ) Total accumulated other comprehensive income, net $ 89.5 $ 106.9

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2015
Stock-Based Compensation [Abstract]
Stock-Based compensation	Stock-Based Compensation The Company awarded stock options, restricted stock units (RSUs) and performance share units (PSUs) to certain officers and non-employee Directors of the Company as follows: Number Awarded Weighted Average Fair Value on Date of Grant Weighted Average Exercise Price Aggregate Fair Value on Date of Grant (in millions) March 2015 Stock options (1) 80,800 $ 7.63 $ 24.20 $ 0.6 RSUs (1) 89,602 24.20 — 2.2 PSUs (2) 110,000 24.20 — 2.7 May 2015 RSUs (1) 19,904 24.11 — 0.5 (1) The stock options and RSUs awarded in March 2015 were awarded to certain officers of the Company and vest 25% on March 15, 2016, and each of the subsequent three anniversaries of that date . The stock options and RSUs are subject to accelerated vesting in certain circumstances, including but not limited to: death, disability, retirement, or in connection with change of control of the Company. The stock options expire seven years from the date of grant. The RSUs awarded in May 2015 were awarded to non-employee Directors of the Company and have a service vesting period of one year from the date of grant. (2) The PSUs awarded in March 2015 were awarded to certain officers of the Company and have a performance period of two years followed by an additional one year vesting period. The PSU awards are subject to certain performance goals with payouts that range from 0% to 200% of the target awards. The value shown in the table represents the aggregate number of PSUs awarded at the target level. A total of 283,760 and 120,494 stock options were exercised during the six months ended June 30, 2015 and the year ended December 31, 2014 , respectively.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share excludes dilution and is computed by dividing income applicable to stockholders by the weighted average number of shares outstanding for the period. Diluted earnings per share reflects the potential dilutive impact of all convertible securities on earnings per share. Diluted earnings per share includes shares assumed issued under the “treasury stock method,” which reflects the potential dilution that would occur if outstanding options were to be exercised. The following table presents the net income and the weighted average number of shares outstanding used in the earnings per common share calculations. Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 (in millions, except share data) Net income available to stockholders—basic and diluted $ 29.2 $ 45.6 $ 43.2 $ 56.4 Weighted average number of shares outstanding—basic 32,066,981 31,518,473 31,906,401 31,464,198 Effect of dilutive securities: PSUs 88,543 263,925 205,697 237,861 Stock options 311,436 213,496 311,168 232,007 RSUs 40,536 35,060 59,964 96,128 Dilutive potential shares 440,515 512,481 576,829 565,996 Weighted average number of shares outstanding—diluted 32,507,496 32,030,954 32,483,230 32,030,194 Diluted earnings per share excludes outstanding options and other common stock equivalents in periods where the inclusion of such options and common stock equivalents would be anti-dilutive. The following table presents options and RSUs that were excluded from diluted earnings per share. Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Options excluded as the exercise price was greater than the average market price — 149,100 — 149,100 Options and RSUs excluded under the treasury method as the potential proceeds on settlement or exercise price were greater than the value of shares acquired 345,369 446,974 306,407 154,044

Changes in Estimates (Tables)

Changes in Estimates (Tables)	6 Months Ended
	Jun. 30, 2015
Changes in Estimates [Abstract]
Change to Contingent Profit Commission [Table Text Block]	During the three months ended June 30, 2015, the Company increased its estimate of contingent commission receivable – LPT Agreement (LPT Contingent Commission Adjustment) as a result of the determination that an adjustment was necessary to reflect observed favorable paid loss trends. The following table shows the impact to the Consolidated Statements of Comprehensive Income related to these changes in estimates. Three Months Ended Six Months Ended June 30, 2015 June 30, 2015 (in millions, except per share data) Change in estimate of contingent commission receivable – LPT Agreement $ 2.6 $ 2.8 Cumulative adjustment to the Deferred Gain (1) $ (2.4 ) $ (2.6 ) Net income impact of change in estimate 2.4 2.6 EPS impact of change in estimate Basic and Diluted 0.07 0.08 (1) The cumulative adjustment to the Deferred Gain was also recognized in losses and LAE incurred in the Consolidated Statement of Comprehensive Income, so that the Deferred Gain reflects the balance that would have existed had the revised reserves been recognized at the inception of the LPT Agreement.
Change Due to Estmated Reserves Ceded Under the LPT Agreement [Table Text Block]	During the second quarter of 2015, the Company reduced its estimated reserves ceded under the Loss Portfolio Transfer Agreement (LPT Reserve Adjustment) as a result of the determination that an adjustment was necessary to reflect observed favorable paid loss trends. The following table shows the financial statement impact related to the reduction in estimated reserves ceded under the Loss Portfolio Transfer Agreement (LPT Agreement). Three Months Ended Six Months Ended June 30, 2015 June 30, 2015 (in millions, except per share data) Change in estimated reserves ceded under the LPT Agreement $ (10.0 ) $ (10.0 ) Cumulative adjustment to the Deferred Gain (1) (6.4 ) (6.4 ) Net income impact of change in estimate 6.4 6.4 EPS impact of change in estimate Basic and Diluted 0.20 0.20 (1) The cumulative adjustment to the Deferred reinsurance gain–LPT Agreement (Deferred Gain) was also recognized in losses and LAE incurred in the Consolidated Statement of Comprehensive Income, so that the Deferred Gain reflects the balance that would have existed had the revised reserves been recognized at the inception of the LPT Agreement.
Change in Reserves for Non-taxable Periods [Table Text Block]	During the second quarter of 2015, the Company reallocated reserves from non-taxable periods prior to January 1, 2000 to taxable years, which reduced our effective tax rate (Note 6 ). This change in estimate was the result of the determination that a reallocation of reserves among accident years was appropriate to address the observed loss trends. The following table shows the financial statement impact of this change in estimate. Three Months Ended Six Months Ended June 30, 2015 June 30, 2015 (in millions, except per share data) Reserves reallocated to taxable years 19.4 19.4 Net income impact of change in estimate 2.5 2.5 EPS impact of change in estimate Basic and Diluted 0.08 0.08

Fair Value of Financial Instr19

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value of Financial Instruments [Abstract]
Estimated fair value of financial instruments table	The carrying value and the estimated fair value of the Company’s financial instruments were as follows: June 30, 2015 December 31, 2014 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value (in millions) Financial assets Investments $ 2,517.6 $ 2,517.6 $ 2,448.4 $ 2,448.4 Cash and cash equivalents 64.9 64.9 103.6 103.6 Restricted cash and cash equivalents 6.6 6.6 10.8 10.8 Financial liabilities Notes payable 92.0 95.7 92.0 97.8
Fair value, assets and liabilities measured on recurring basis table	The following table presents the items on the accompanying consolidated balance sheets that are stated at fair value and the corresponding fair value measurements. June 30, 2015 December 31, 2014 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 (in millions) Fixed maturity securities U.S. Treasuries $ — $ 158.7 $ — $ — $ 166.7 $ — U.S. Agencies — 38.1 — — 39.6 — States and municipalities — 799.9 — — 745.8 — Corporate securities — 903.7 — — 908.3 — Residential mortgage-backed securities — 262.8 — — 288.4 — Commercial mortgage-backed securities — 60.2 — — 65.4 — Asset-backed securities — 58.4 — — 61.5 — Total fixed maturity securities $ — $ 2,281.8 $ — $ — $ 2,275.7 $ — Equity securities $ 217.3 $ — $ — $ 172.7 $ — $ — Short-term investments $ — $ 18.5 $ — $ — $ — $ —

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2015
Investments [Abstract]
Available-for-sale securities table	The cost or amortized cost, gross unrealized gains, gross unrealized losses, and estimated fair value of the Company’s investments were as follows: Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (in millions) At June 30, 2015 Fixed maturity securities U.S. Treasuries $ 153.0 $ 5.7 $ — $ 158.7 U.S. Agencies 36.1 2.0 — 38.1 States and municipalities 766.5 36.1 (2.7 ) 799.9 Corporate securities 881.2 25.9 (3.4 ) 903.7 Residential mortgage-backed securities 255.7 8.5 (1.4 ) 262.8 Commercial mortgage-backed securities 60.3 0.5 (0.6 ) 60.2 Asset-backed securities 58.4 — — 58.4 Total fixed maturity securities 2,211.2 78.7 (8.1 ) 2,281.8 Equity securities 150.3 71.7 (4.7 ) 217.3 Short-term investments 18.5 — — 18.5 Total investments $ 2,380.0 $ 150.4 $ (12.8 ) $ 2,517.6 At December 31, 2014 Fixed maturity securities U.S. Treasuries $ 160.9 $ 5.8 $ — $ 166.7 U.S. Agencies 37.2 2.4 — 39.6 States and municipalities 701.6 44.4 (0.2 ) 745.8 Corporate securities 880.7 30.8 (3.2 ) 908.3 Residential mortgage-backed securities 278.6 10.6 (0.8 ) 288.4 Commercial mortgage-backed securities 65.5 0.5 (0.6 ) 65.4 Asset-backed securities 61.6 — (0.1 ) 61.5 Total fixed maturity securities 2,186.1 94.5 (4.9 ) 2,275.7 Equity securities 97.8 75.5 (0.6 ) 172.7 Total investments $ 2,283.9 $ 170.0 $ (5.5 ) $ 2,448.4
Investments classified by contractual maturity date table	The amortized cost and estimated fair value of fixed maturity securities at June 30, 2015 , by contractual maturity, are shown below. Expected maturities differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Cost Estimated Fair Value (in millions) Due in one year or less $ 144.9 $ 146.0 Due after one year through five years 816.8 850.1 Due after five years through ten years 628.9 649.3 Due after ten years 246.2 255.0 Mortgage and asset-backed securities 374.4 381.4 Total $ 2,211.2 $ 2,281.8
Unrealized loss on investments table	The following is a summary of investments that have been in a continuous unrealized loss position for less than 12 months and those that have been in a continuous unrealized loss position for 12 months or greater as of June 30, 2015 and December 31, 2014 . June 30, 2015 December 31, 2014 Estimated Fair Value Gross Unrealized Losses Number of Issues Estimated Fair Value Gross Unrealized Losses Number of Issues (in millions, except number of issues data) Less than 12 months: Fixed maturity securities States and municipalities $ 184.4 $ (2.7 ) 45 $ 20.6 $ (0.2 ) 5 Corporate securities 220.8 (2.4 ) 82 109.9 (0.8 ) 42 Residential mortgage-backed securities 60.9 (1.1 ) 23 — — — Commercial mortgage-backed securities 25.8 (0.5 ) 9 — — — Total fixed maturity securities 491.9 (6.7 ) 159 130.5 (1.0 ) 47 Equity securities 70.9 (4.6 ) 57 10.1 (0.6 ) 15 Total less than 12 months $ 562.8 $ (11.3 ) 216 $ 140.6 $ (1.6 ) 62 12 months or greater: Fixed maturity securities Corporate securities $ 41.4 $ (1.0 ) 11 $ 129.4 $ (2.4 ) 39 Residential mortgage-backed securities 9.2 (0.3 ) 27 44.1 (0.8 ) 36 Commercial mortgage-backed securities 3.0 (0.1 ) 2 31.3 (0.6 ) 8 Asset-backed securities — — — 18.3 (0.1 ) 6 Total fixed maturity securities 53.6 (1.4 ) 40 223.1 (3.9 ) 89 Equity securities 0.8 (0.1 ) 4 — — — Total 12 months or greater $ 54.4 $ (1.5 ) 44 $ 223.1 $ (3.9 ) 89 Total available-for-sale: Fixed maturity securities States and municipalities $ 184.4 $ (2.7 ) 45 $ 20.6 $ (0.2 ) 5 Corporate securities 262.2 (3.4 ) 93 239.3 (3.2 ) 81 Residential mortgage-backed securities 70.1 (1.4 ) 50 44.1 (0.8 ) 36 Commercial mortgage-backed securities 28.8 (0.6 ) 11 31.3 (0.6 ) 8 Asset-backed securities — — — 18.3 (0.1 ) 6 Total fixed maturity securities 545.5 (8.1 ) 199 353.6 (4.9 ) 136 Equity securities 71.7 (4.7 ) 61 10.1 (0.6 ) 15 Total available-for-sale $ 617.2 $ (12.8 ) 260 $ 363.7 $ (5.5 ) 151
Net realized gains and change in unrealized gains (losses), available for sale securities table	ealized gains on investments and the change in unrealized gains (losses) on fixed maturity and equity securities are determined on a specific-identification basis and were as follows: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 (in millions) Net realized gains on investments Fixed maturity securities Gross gains $ 0.3 $ 0.1 $ 0.3 $ 0.8 Gross losses (0.2 ) — (0.2 ) — Net realized gains on fixed maturity securities $ 0.1 $ 0.1 $ 0.1 $ 0.8 Equity securities Gross gains $ 1.9 $ 9.1 $ 3.5 $ 11.6 Gross losses (0.1 ) — (0.5 ) — Net realized gains on equity securities $ 1.8 $ 9.1 $ 3.0 $ 11.6 Total $ 1.9 $ 9.2 $ 3.1 $ 12.4 Change in unrealized gains (losses) Fixed maturity securities $ (33.1 ) $ 18.0 $ (19.0 ) $ 31.3 Equity securities (6.7 ) (2.6 ) (7.8 ) (3.4 ) Total $ (39.8 ) $ 15.4 $ (26.8 ) $ 27.9
Investment income table	Net investment income was as follows: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 (in millions) Fixed maturity securities $ 17.9 $ 17.9 $ 34.3 $ 35.5 Equity securities 1.2 1.0 2.3 2.0 Gross investment income 19.1 18.9 36.6 37.5 Investment expenses (0.7 ) (0.6 ) (1.3 ) (1.2 ) Net investment income $ 18.4 $ 18.3 $ 35.3 $ 36.3

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2015
Income Taxes [Abstract]
Reconciliation of federal staturoty income tax rates to the effective tax rates table	The following is a reconciliation of the federal statutory income tax rate to the Company’s effective tax rates for the periods presented. Six Months Ended June 30, 2015 2014 Expense computed at statutory rate 35.0 % 35.0 % Dividends received deduction and tax-exempt interest (8.0 ) (9.8 ) LPT deferred gain amortization (4.5 ) (8.0 ) LPT reserve adjustment (2.1 ) (8.1 ) Pre-privatization reserve adjustment, excluding LPT (4.9 ) (3.7 ) Other 0.5 0.1 Effective tax rate 16.0 % 5.5 %

Liability for Unpaid Losses a22

Liability for Unpaid Losses and Loss Adjustment Expenses (Tables)	6 Months Ended
	Jun. 30, 2015
Liability for Unpaid Losses and Loss Adjustment Expenses [Abstract]
Changes in the liability for unpaid losses and LAE table	The following table represents a reconciliation of changes in the liability for unpaid losses and LAE. Six Months Ended June 30, 2015 2014 (in millions) Unpaid losses and LAE, gross of reinsurance, at beginning of period $ 2,369.7 $ 2,330.5 Less reinsurance recoverable, excluding bad debt allowance, on unpaid losses and LAE 669.5 743.1 Net unpaid losses and LAE at beginning of period 1,700.2 1,587.4 Losses and LAE, net of reinsurance, incurred during the period related to: Current period 221.1 252.8 Prior periods 1.4 3.3 Total net losses and LAE incurred during the period 222.5 256.1 Paid losses and LAE, net of reinsurance, related to: Current period 20.1 19.7 Prior periods 189.0 168.2 Total net paid losses and LAE during the period 209.1 187.9 Ending unpaid losses and LAE, net of reinsurance 1,713.6 1,655.6 Reinsurance recoverable, excluding bad debt allowance, on unpaid losses and LAE 640.9 699.2 Unpaid losses and LAE, gross of reinsurance, at end of period $ 2,354.5 $ 2,354.8

Accumulated Other Comprehensi23

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2015
Accumulated Other Comprehensive Income [Abstract]
Schedule of accumulated other comprehensive income (loss) table	The following table summarizes the components of accumulated other comprehensive income, net: June 30, 2015 December 31, 2014 (in millions) Net unrealized gain on investments, before taxes $ 137.7 $ 164.5 Deferred tax expense on net unrealized gains (48.2 ) (57.6 ) Total accumulated other comprehensive income, net $ 89.5 $ 106.9

Stock-Based Compensation Stock-

Stock-Based Compensation Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2015
Stock-Based Compensation [Abstract]
Share-based compensation arrangements by share-based payment award table	The Company awarded stock options, restricted stock units (RSUs) and performance share units (PSUs) to certain officers and non-employee Directors of the Company as follows: Number Awarded Weighted Average Fair Value on Date of Grant Weighted Average Exercise Price Aggregate Fair Value on Date of Grant (in millions) March 2015 Stock options (1) 80,800 $ 7.63 $ 24.20 $ 0.6 RSUs (1) 89,602 24.20 — 2.2 PSUs (2) 110,000 24.20 — 2.7 May 2015 RSUs (1) 19,904 24.11 — 0.5 (1) The stock options and RSUs awarded in March 2015 were awarded to certain officers of the Company and vest 25% on March 15, 2016, and each of the subsequent three anniversaries of that date . The stock options and RSUs are subject to accelerated vesting in certain circumstances, including but not limited to: death, disability, retirement, or in connection with change of control of the Company. The stock options expire seven years from the date of grant. The RSUs awarded in May 2015 were awarded to non-employee Directors of the Company and have a service vesting period of one year from the date of grant. (2) The PSUs awarded in March 2015 were awarded to certain officers of the Company and have a performance period of two years followed by an additional one year vesting period. The PSU awards are subject to certain performance goals with payouts that range from 0% to 200% of the target awards. The value shown in the table represents the aggregate number of PSUs awarded at the target level.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Net income and weighted average common shares outstanding used in earnings per share calculations table	The following table presents the net income and the weighted average number of shares outstanding used in the earnings per common share calculations. Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 (in millions, except share data) Net income available to stockholders—basic and diluted $ 29.2 $ 45.6 $ 43.2 $ 56.4 Weighted average number of shares outstanding—basic 32,066,981 31,518,473 31,906,401 31,464,198 Effect of dilutive securities: PSUs 88,543 263,925 205,697 237,861 Stock options 311,436 213,496 311,168 232,007 RSUs 40,536 35,060 59,964 96,128 Dilutive potential shares 440,515 512,481 576,829 565,996 Weighted average number of shares outstanding—diluted 32,507,496 32,030,954 32,483,230 32,030,194
Antidilutive securities excluded from computation of earnings per share table	The following table presents options and RSUs that were excluded from diluted earnings per share. Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Options excluded as the exercise price was greater than the average market price — 149,100 — 149,100 Options and RSUs excluded under the treasury method as the potential proceeds on settlement or exercise price were greater than the value of shares acquired 345,369 446,974 306,407 154,044

Basis of Presentation (Details)

Basis of Presentation (Details)	6 Months Ended
	Jun. 30, 2015shares
Basis of Presentation [Abstract]
Number of Operating Segments	1

Changes in Estimates (Details)

Changes in Estimates (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2015		Jun. 30, 2014	Jun. 30, 2015		Jun. 30, 2014
Change in Accounting Estimate [Line Items]
Net income	$ 29,200		$ 45,600	$ 43,200		$ 56,400
Change Due to Estimated Reserves Ceded Under the LPT Agreement [Member]
Change in Accounting Estimate [Line Items]
Change to estimated reserves ceded under the LPT agreement	(10,000)			(10,000)
Cumulative adjustment to the Deferred Gain	(6,400)	[1]		(6,400)	[1]	(20,800)
Net income	$ 6,400			$ 6,400
Basic and Diluted	$ 0.20			$ 0.20
Change to Contingent Profit Commission [Member]
Change in Accounting Estimate [Line Items]
Change in estimate of contingent commission receivable - LPT Agreement	$ 2,600			$ 2,800
Cumulative adjustment to the Deferred Gain	(2,400)	[2]		(2,600)	[2]	$ (7,600)
Net income	$ 2,400			$ 2,600
Basic and Diluted	$ 0.07			$ 0.08
Due to change in reserves for non-taxable Periods [Member]
Change in Accounting Estimate [Line Items]
Reserves reallocated to taxable years	$ 19,400			$ 19,400
Net income	$ 2,500			$ 2,500
Basic and Diluted	$ 0.08			$ 0.08
[1]	The cumulative adjustment to the Deferred reinsurance gain–LPT Agreement (Deferred Gain) was also recognized in losses and LAE incurred in the Consolidated Statement of Comprehensive Income, so that the Deferred Gain reflects the balance that would have existed had the revised reserves been recognized at the inception of the LPT Agreement.
[2]	The cumulative adjustment to the Deferred Gain was also recognized in losses and LAE incurred in the Consolidated Statement of Comprehensive Income, so that the Deferred Gain reflects the balance that would have existed had the revised reserves been recognized at the inception of the LPT Agreement.

Fair Value of Financial Instr28

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	$ 2,517,600	$ 2,448,400
Investments, fair value	2,517,600	2,448,400
Cash and cash equivalents	64,900	103,600	$ 37,000	$ 34,500
Cash and cash equivalents, estimated fair value	64,900	103,600
Restricted cash and cash equivalents	6,600	10,800
Notes payable	92,000	92,000
Notes Payable, fair value	95,700	97,800
Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	31,000	31,200
Restricted cash and cash equivalents	$ 6,600	$ 10,800

Fair Value of Financial Instr29

Fair Value of Financial Instruments, Fair Value Inputs (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 2,517.6	$ 2,448.4
Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	2,281.8	2,275.7
Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	2,281.8	2,275.7
Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	158.7	166.7
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments		166.7
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
US Government Agencies Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	38.1	39.6
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments		39.6
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
US States and Political Subdivisions Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	799.9	745.8
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments		745.8
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	903.7	908.3
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments		908.3
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Residential Mortgage Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	262.8	288.4
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments		288.4
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Commercial Mortgage Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	60.2	65.4
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments		65.4
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	58.4	61.5
Asset-backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Asset-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments		61.5
Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	217.3	172.7
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments		172.7
Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Short-term Investments [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Short-term Investments [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	18.5	0
Short-term Investments [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 0	$ 0

Investments (Details)

Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	$ 2,380,000	$ 2,283,900
Gross unrealized gain	150,400	170,000
Gross unrealized loss	(12,800)	(5,500)
Investments	2,517,600	2,448,400
Deposit Assets
Investments	2,517,600	2,448,400
Assets Held-in-trust
Investments	2,517,600	2,448,400
Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	2,211,200	2,186,100
Gross unrealized gain	78,700	94,500
Gross unrealized loss	(8,100)	(4,900)
Investments	2,281,800	2,275,700
Deposit Assets
Investments	2,281,800	2,275,700
Assets Held-in-trust
Investments	2,281,800	2,275,700
US Treasury Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	153,000	160,900
Gross unrealized gain	5,700	5,800
Gross unrealized loss	0	0
Investments	158,700	166,700
Deposit Assets
Investments	158,700	166,700
Assets Held-in-trust
Investments	158,700	166,700
US Government Agencies Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	36,100	37,200
Gross unrealized gain	2,000	2,400
Gross unrealized loss	0	0
Investments	38,100	39,600
Deposit Assets
Investments	38,100	39,600
Assets Held-in-trust
Investments	38,100	39,600
US States and Political Subdivisions Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	766,500	701,600
Gross unrealized gain	36,100	44,400
Gross unrealized loss	(2,700)	(200)
Investments	799,900	745,800
Deposit Assets
Investments	799,900	745,800
Assets Held-in-trust
Investments	799,900	745,800
Corporate Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	881,200	880,700
Gross unrealized gain	25,900	30,800
Gross unrealized loss	(3,400)	(3,200)
Investments	903,700	908,300
Deposit Assets
Investments	903,700	908,300
Assets Held-in-trust
Investments	903,700	908,300
Residential Mortgage Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	255,700	278,600
Gross unrealized gain	8,500	10,600
Gross unrealized loss	(1,400)	(800)
Investments	262,800	288,400
Deposit Assets
Investments	262,800	288,400
Assets Held-in-trust
Investments	262,800	288,400
Commercial Mortgage Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	60,300	65,500
Gross unrealized gain	500	500
Gross unrealized loss	(600)	(600)
Investments	60,200	65,400
Deposit Assets
Investments	60,200	65,400
Assets Held-in-trust
Investments	60,200	65,400
Asset-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	58,400	61,600
Gross unrealized gain	0	0
Gross unrealized loss	0	(100)
Investments	58,400	61,500
Deposit Assets
Investments	58,400	61,500
Assets Held-in-trust
Investments	58,400	61,500
Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	150,300	97,800
Gross unrealized gain	71,700	75,500
Gross unrealized loss	(4,700)	(600)
Investments	217,300	172,700
Deposit Assets
Investments	217,300	172,700
Assets Held-in-trust
Investments	217,300	172,700
Short-term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	18,500
Gross unrealized gain	0
Gross unrealized loss	0
Fair Value Measurement [Member]
Schedule of Available-for-sale Securities [Line Items]
Investments	31,000	31,200
Deposit Assets
Investments	31,000	31,200
Assets Held-in-trust
Investments	31,000	31,200
Fair Value Measurement [Member] | Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Investments	901,400	783,900
Deposit Assets
Investments	901,400	783,900
Assets Held-in-trust
Investments	901,400	783,900
Fair Value Measurement [Member] | Fixed Maturities and Restricted Cash Equivalents [Member]
Schedule of Available-for-sale Securities [Line Items]
Investments	75,100	74,600
Deposit Assets
Investments	75,100	74,600
Assets Held-in-trust
Investments	$ 75,100	$ 74,600

Investments, Amortized Cost and

Investments, Amortized Cost and Estimated Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Amortized Cost
Due in one year or less, amortized cost	$ 144,900
Due after one year through five years, amortized cost	816,800
Due after five years through ten years, amortized cost	628,900
Due after ten years, amortized cost	246,200
Mortgage and asset-backed securities, amortized cost	374,400
Total, amortized cost	2,211,200
Estimated Fair Value
Due in one year or less, fair value	146,000
Due after one year through five years, fair value	850,100
Due after five years through ten years, fair value	649,300
Due after ten years, fair value	255,000
Mortgage and asset-backed securities, fair value	381,400
Total, fair value	$ 2,281,800	$ 2,275,700

Investments, Continuous Loss Po

Investments, Continuous Loss Position (Details)	6 Months Ended
	Jun. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Estimated Fair Value
Estimated fair value, less than 12 months	$ 562,800,000	$ 140,600,000
Estimated fair value, 12 months or greater	54,400,000	223,100,000
Estimated fair value, total	617,200,000	363,700,000
Gross Unrealized Losses
Gross unrealized losses, less than 12 months	(11,300,000)	(1,600,000)
Gross unrealized losses, 12 months or greater	1,500,000	3,900,000
Estimated unrealized losses, total	$ (12,800,000)	$ (5,500,000)
Number of issues in loss position, less than 12 months	216	62
Number of Issues in loss position, 12 months or greater	44	89
Number of issues loss position, aggregate	260	151
Total impairments, value	$ 100,000
Total impairments, number of securities	4
Debt Securities [Member]
Estimated Fair Value
Estimated fair value, less than 12 months	$ 491,900,000	$ 130,500,000
Estimated fair value, 12 months or greater	53,600,000	223,100,000
Estimated fair value, total	545,500,000	353,600,000
Gross Unrealized Losses
Gross unrealized losses, less than 12 months	(6,700,000)	(1,000,000)
Gross unrealized losses, 12 months or greater	1,400,000	3,900,000
Estimated unrealized losses, total	$ (8,100,000)	$ (4,900,000)
Number of issues in loss position, less than 12 months	159	47
Number of Issues in loss position, 12 months or greater	40	89
Number of issues loss position, aggregate	199	136
US States and Political Subdivisions Debt Securities [Member]
Estimated Fair Value
Estimated fair value, less than 12 months	$ 184,400,000	$ 20,600,000
Estimated fair value, total	184,400,000	20,600,000
Gross Unrealized Losses
Gross unrealized losses, less than 12 months	(2,700,000)	(200,000)
Estimated unrealized losses, total	$ (2,700,000)	$ (200,000)
Number of issues in loss position, less than 12 months	45	5
Number of issues loss position, aggregate	45	5
Corporate Debt Securities [Member]
Estimated Fair Value
Estimated fair value, less than 12 months	$ 220,800,000	$ 109,900,000
Estimated fair value, 12 months or greater	41,400,000	129,400,000
Estimated fair value, total	262,200,000	239,300,000
Gross Unrealized Losses
Gross unrealized losses, less than 12 months	(2,400,000)	(800,000)
Gross unrealized losses, 12 months or greater	1,000,000	2,400,000
Estimated unrealized losses, total	$ (3,400,000)	$ (3,200,000)
Number of issues in loss position, less than 12 months	82	42
Number of Issues in loss position, 12 months or greater	11	39
Number of issues loss position, aggregate	93	81
Residential Mortgage Backed Securities [Member]
Estimated Fair Value
Estimated fair value, less than 12 months	$ 60,900,000	$ 0
Estimated fair value, 12 months or greater	9,200,000	44,100,000
Estimated fair value, total	70,100,000	44,100,000
Gross Unrealized Losses
Gross unrealized losses, less than 12 months	(1,100,000)	0
Gross unrealized losses, 12 months or greater	300,000	800,000
Estimated unrealized losses, total	$ (1,400,000)	$ (800,000)
Number of issues in loss position, less than 12 months	23	0
Number of Issues in loss position, 12 months or greater	27	36
Number of issues loss position, aggregate	50	36
Commercial Mortgage Backed Securities [Member]
Estimated Fair Value
Estimated fair value, less than 12 months	$ 25,800,000	$ 0
Estimated fair value, 12 months or greater	3,000,000	31,300,000
Estimated fair value, total	28,800,000	31,300,000
Gross Unrealized Losses
Gross unrealized losses, less than 12 months	(500,000)	0
Gross unrealized losses, 12 months or greater	100,000	600,000
Estimated unrealized losses, total	$ (600,000)	$ (600,000)
Number of issues in loss position, less than 12 months	9	0
Number of Issues in loss position, 12 months or greater	2	8
Number of issues loss position, aggregate	11	8
Asset-backed Securities [Member]
Estimated Fair Value
Estimated fair value, 12 months or greater	$ 0	$ 18,300,000
Estimated fair value, total	0	18,300,000
Gross Unrealized Losses
Gross unrealized losses, 12 months or greater	0	100,000
Estimated unrealized losses, total	$ 0	$ (100,000)
Number of Issues in loss position, 12 months or greater	0	6
Number of issues loss position, aggregate	0	0
Equity Securities [Member]
Estimated Fair Value
Estimated fair value, less than 12 months	$ 70,900,000	$ 10,100,000
Estimated fair value, 12 months or greater	800,000	0
Estimated fair value, total	71,700,000	10,100,000
Gross Unrealized Losses
Gross unrealized losses, less than 12 months	(4,600,000)	(600,000)
Gross unrealized losses, 12 months or greater	100,000	0
Estimated unrealized losses, total	$ (4,700,000)	$ (600,000)
Number of issues in loss position, less than 12 months	57	15
Number of Issues in loss position, 12 months or greater	4	0
Number of issues loss position, aggregate	61	15

Investments, Net Realized Gains

Investments, Net Realized Gains (Losses) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net realized gains (losses)
Net realized gains (losses) on fixed maturity and equity securities	$ 1.9	$ 9.2	$ 3.1	$ 12.4
Change in unrealized gains (losses)
Change in unrealized gains (losses) on fixed maturity and equity securities	(39.8)	15.4	(26.8)	27.9
Debt Securities [Member]
Net realized gains (losses)
Gross gains from sales	0.3	0.1	0.3	0.8
Gross losses from sales	0.2	0	0.2	0
Net realized gains (losses) on fixed maturity and equity securities	0.1	0.1	0.1	0.8
Change in unrealized gains (losses)
Change in unrealized gains (losses) on fixed maturity and equity securities	(33.1)	18	(19)	31.3
Equity Securities [Member]
Net realized gains (losses)
Gross gains from sales	1.9	9.1	3.5	11.6
Gross losses from sales	0.1	0	0.5	0
Net realized gains (losses) on fixed maturity and equity securities	1.8	9.1	3	11.6
Change in unrealized gains (losses)
Change in unrealized gains (losses) on fixed maturity and equity securities	$ (6.7)	$ (2.6)	$ (7.8)	$ (3.4)

Net Investment Income (Details)

Net Investment Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income	$ 19.1	$ 18.9	$ 36.6	$ 37.5
Investment expenses	0.7	0.6	1.3	1.2
Net investment income	18.4	18.3	35.3	36.3
Debt Securities [Member]
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income related to fixed maturity securities and short-term investments and cash equivalents	17.9	17.9	34.3	35.5
Equity Securities [Member]
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income related to equity securities	$ 1.2	$ 1	$ 2.3	$ 2

Income Taxes (Details)

Income Taxes (Details)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
Expense computed at statutory rate	35.00%	35.00%
Dividends received deduction and tax-exempt interest	(8.00%)	(9.80%)
LPT deferred gain amortization	(4.50%)	(8.00%)
LPT reserve adjustment	(2.10%)	(8.10%)
Pre-privatization reserve adjustment, excluding LPT	(4.90%)	(3.70%)
Other	0.50%	0.10%
Effective tax rate	16.00%	5.50%

Liability for Unpaid Losses a36

Liability for Unpaid Losses and Loss Adjustment Expenses (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015	Dec. 31, 2014
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Unpaid losses and LAE, gross of reinsurance, at beginning of period		$ 2,369,700
Less reinsurance recoverable, excluding bad debt allowance, on unpaid losses and LAE		669,500
Net unpaid losses and LAE at beginning of period		1,700,200
Losses and LAE, net of reinsurance, incurred during the period related to:
Current period	$ 252,800	221,100
Prior periods	3,300	1,400
Total net losses and LAE incurred during the period	256,100	222,500
Deduct payments for losses and LAE, net of reinsurance, related to:
Current period	19,700	20,100
Prior periods	168,200	189,000
Total net paid losses and LAE during the period	187,900	209,100
Ending unpaid losses and LAE, net of reinsurance	1,713,600	1,713,600
Reinsurance recoverable, excluding bad debt allowance, on unpaid losses and LAE	640,900	640,900
Unpaid losses and LAE, gross of reinsurance, at end of period	2,354,500	2,354,500
LPT Agreement [Abstract]
Impact of the LPT Agreement	$ 14,800	$ 14,800	$ 35,300

LPT Agreement LPT Agreement (De

LPT Agreement LPT Agreement (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015		Jun. 30, 2015		Jun. 30, 2014	Dec. 31, 2014
Reinsurance Agreement [Line Items]
Reinsurance quota share, percentage			100.00%
Liabilities for the incurred but unpaid losses and LAE related to claims prior to July 1, 1995	$ 1,500,000		$ 1,500,000
Ceded premiums written			775,000
Amortization of deferred gain			5,800		$ 6,900
Deferred reinsurance gain—LPT Agreement	195,100		195,100			$ 207,000
Estimated remaining liabilities - LPT Agreement	511,200		511,200			534,800
Paid losses and LAE claims related to LPT	682,000		682,000			$ 668,400
Change Due to Estimated Reserves Ceded Under the LPT Agreement [Member]
Reinsurance Agreement [Line Items]
Cumulative adjustment to the Deferred Gain	6,400	[1]	6,400	[1]	20,800
Change to Contingent Profit Commission [Member]
Reinsurance Agreement [Line Items]
Cumulative adjustment to the Deferred Gain	2,400	[2]	2,600	[2]	$ 7,600
Indemnification Agreement [Member]
Reinsurance Agreement [Line Items]
Coverage provided under LPT Agreement	$ 2,000,000		$ 2,000,000
[1]	The cumulative adjustment to the Deferred reinsurance gain–LPT Agreement (Deferred Gain) was also recognized in losses and LAE incurred in the Consolidated Statement of Comprehensive Income, so that the Deferred Gain reflects the balance that would have existed had the revised reserves been recognized at the inception of the LPT Agreement.
[2]	The cumulative adjustment to the Deferred Gain was also recognized in losses and LAE incurred in the Consolidated Statement of Comprehensive Income, so that the Deferred Gain reflects the balance that would have existed had the revised reserves been recognized at the inception of the LPT Agreement.

Accumulated Other Comprehensi38

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Net unrealized gain on investments, before taxes	$ 137,700	$ 164,500
Deferred tax expense on net unrealized gains	(48,200)	(57,600)
Total accumulated other comprehensive income, net	$ 89,500	$ 106,900

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended		3 Months Ended		6 Months Ended	12 Months Ended
		May. 31, 2015		Mar. 31, 2015		Jun. 30, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-options exercised						283,760	120,494
Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rights for options awarded						vest 25% on March 15, 2016, and each of the subsequent three anniversaries of that date
Performance share awards performance period				two years
Performance share awards, minimum payout				0.00%
Performance share awards, maximum payout				200.00%
Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation award, shares issued	[1]			80,800
Share-based compensation options, exercise price on grant date	[1]			$ 7.63
Share-based compensation award, fair value assumptions, exercise price	[1]			$ 24.20
Fair value of awards awarded on grant date	[1]			$ 0.6
Stock Option [Member] | Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, expiration period				7 years
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation award, shares issued	[1]	19,904		89,602
Share-based compensation options, exercise price on grant date		$ 24.11	[1]	$ 24.20	[2]
Share-based compensation award, fair value assumptions, exercise price		$ 0		$ 0
Fair value of awards awarded on grant date	[1]	$ 0.5		$ 2.2
Restricted Stock Units (RSUs) [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period		1 year
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation award, shares issued	[2]			110,000
Share-based compensation options, exercise price on grant date	[2]			$ 24.20
Share-based compensation award, fair value assumptions, exercise price				$ 0
Fair value of awards awarded on grant date	[2]			$ 2.7
Performance Shares [Member] | Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period				1 year
[1]	The stock options and RSUs awarded in March 2015 were awarded to certain officers of the Company and vest 25% on March 15, 2016, and each of the subsequent three anniversaries of that date. The stock options and RSUs are subject to accelerated vesting in certain circumstances, including but not limited to: death, disability, retirement, or in connection with change of control of the Company. The stock options expire seven years from the date of grant.The RSUs awarded in May 2015 were awarded to non-employee Directors of the Company and have a service vesting period of one year from the date of grant.(2)
[2]	The PSUs awarded in March 2015 were awarded to certain officers of the Company and have a performance period of two years followed by an additional one year vesting period. The PSU awards are subject to certain performance goals with payouts that range from 0% to 200% of the target awards. The value shown in the table represents the aggregate number of PSUs awarded at the target level.

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Net income available to stockholders - basic and diluted	$ 29,200	$ 45,600	$ 43,200	$ 56,400
Weighted average number of shares outstanding - basic	32,066,981	31,518,473	31,906,401	31,464,198
Effect of dilutive securities:
Dilutive securities	440,515	512,481	576,829	565,996
Weighted average number of shares outstanding - diluted	32,507,496	32,030,954	32,483,230	32,030,194
Antidilutive securities excluded from computation of earnings per share	0	149,100	0	149,100
Antidilutive securites excluded under the treasury method from computation of earnings per share	345,369	446,974	306,407	154,044
Employee Stock Option [Member]
Effect of dilutive securities:
Dilutive securities	311,436	213,496	311,168	232,007
Restricted Stock Units (RSUs) [Member]
Effect of dilutive securities:
Dilutive securities	40,536	35,060	59,964	96,128
Performance Shares [Member]
Effect of dilutive securities:
Dilutive securities	88,543	263,925	205,697	237,861

Uncategorized Items - eig-20150

Label	Element	Value
Liability for Unpaid Claims and Claims Adjustment Expense, Net	us-gaap_LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet	$ 1,587.4
Liability for Unpaid Claims and Claims Adjustment Expense, Net	us-gaap_LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet	1,655.6
Reinsurance Recoverable, Unpaid Losses Excluding Allowance	eig_ReinsuranceRecoverableUnpaidLossesExcludingAllowance	699.2
Reinsurance Recoverable, Unpaid Losses Excluding Allowance	eig_ReinsuranceRecoverableUnpaidLossesExcludingAllowance	$ 743.1