HCI (HCI) 10-Q 6 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Oct. 29, 2019
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Trading Symbol	HCI
Entity Registrant Name	HCI Group, Inc.
Entity Central Index Key	0001400810
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Shares
Security Exchange Name	NYSE
Entity File Number	001-34126
Entity Incorporation, State or Country Code	FL
Entity Tax Identification Number	20-5961396
Entity Address, Address Line One	5300 West Cypress Street
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Tampa
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33607
City Area Code	813
Local Phone Number	849-9500
Document Quarterly Report	true
Document Transition Report	false
Entity Common Stock, Shares Outstanding		8,018,449

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Assets
Fixed-maturity securities, available for sale, at fair value (amortized cost: $207,983 and $184,670, respectively)	$ 210,753	$ 182,723
Equity securities, at fair value (cost: $29,710 and $45,671, respectively)	32,443	41,143
Short-term investments	495	66,479
Limited partnership investments, at equity	30,690	32,293
Investment in unconsolidated joint venture, at equity	774	845
Assets held for sale	10,031	9,810
Real estate investments	63,454	54,490
Total investments	348,640	387,783
Cash and cash equivalents	214,626	239,458
Restricted cash	700	700
Accrued interest and dividends receivable	2,074	1,792
Income taxes receivable	315	971
Premiums receivable	25,649	16,667
Prepaid reinsurance premiums	32,758	17,932
Reinsurance recoverable:
Paid losses and loss adjustment expenses	20,321	11,151
Unpaid losses and loss adjustment expenses	143,123	112,760
Deferred policy acquisition costs	23,135	16,507
Property and equipment, net	14,360	13,338
Intangible assets, net	4,347	4,800
Other assets	13,451	9,004
Total assets	843,499	832,863
Liabilities and Stockholders’ Equity
Losses and loss adjustment expenses	237,921	207,586
Unearned premiums	204,755	157,729
Advance premiums	11,646	6,192
Assumed reinsurance balances payable		14
Accrued expenses	13,387	6,483
Deferred income taxes, net	3,340	1,068
Revolving credit facility	9,750
Long-term debt	162,996	250,150
Other liabilities	15,499	22,200
Total liabilities	659,294	651,422
Commitments and contingencies (Note 18)
Stockholders' equity:
Preferred stock
Common stock (no par value, 40,000,000 shares authorized, 7,883,306 and 8,356,730 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively)
Additional paid-in capital
Retained income	182,114	182,894
Accumulated other comprehensive income (loss), net of taxes	2,091	(1,453)
Total stockholders’ equity	184,205	181,441
Total liabilities and stockholders’ equity	843,499	832,863
7% Series A Cumulative Convertible Preferred Stock [Member]
Stockholders' equity:
Preferred stock
Series B Preferred Stock [Member]
Stockholders' equity:
Preferred stock

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Available-for-sale Debt securities, Amortized cost	$ 207,983	$ 184,670
Equity Securities, Cost	$ 29,710	$ 45,671
Preferred stock, no par value
Preferred stock, authorized	18,100,000	18,100,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, no par value
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	7,883,306	8,356,730
Common stock, outstanding	7,883,306	8,356,730
7% Series A Cumulative Convertible Preferred Stock [Member]
Preferred stock, no par value
Preferred stock, authorized	1,500,000	1,500,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Series B Preferred Stock [Member]
Preferred stock, no par value
Preferred stock, authorized	400,000	400,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue
Gross premiums earned	$ 86,002	$ 86,163	$ 251,914	$ 257,854
Premiums ceded	(31,568)	(31,986)	(94,298)	(97,190)
Net premiums earned	54,434	54,177	157,616	160,664
Net investment income	3,621	5,054	11,125	11,671
Net realized investment (losses) gains	(30)	1,626	(535)	6,520
Net unrealized investment gains (losses)	642	(390)	7,261	(4,547)
Net other-than-temporary impairment losses	0	0	0	(80)
Policy fee income	811	843	2,406	2,563
Other	501	433	1,370	1,504
Total revenue	59,979	61,743	179,243	178,295
Expenses
Losses and loss adjustment expenses	27,327	25,769	78,616	67,227
Policy acquisition and other underwriting expenses	10,988	9,829	30,738	29,148
General and administrative personnel expenses	7,951	6,781	23,313	20,904
Interest expense	2,907	4,552	10,128	13,527
Other operating expenses	3,087	2,889	9,131	9,242
Total expenses	52,260	49,820	151,926	140,048
Income before income taxes	7,719	11,923	27,317	38,247
Income tax expense	1,866	2,926	7,173	12,056
Net income	$ 5,853	$ 8,997	$ 20,144	$ 26,191
Basic earnings per share	$ 0.73	$ 1.08	$ 2.49	$ 3.29
Diluted earnings per share	$ 0.73	$ 1	$ 2.49	$ 3.03

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 5,853	$ 8,997	$ 20,144	$ 26,191
Change in unrealized gain (loss) on investments:
Net unrealized gain (loss) arising during the period	447	35	4,777	(2,658)
Other-than-temporary impairment loss charged to income	0	0	0	80
Call and repayment losses charged to investment income	(2)	(19)	(1)	(15)
Reclassification adjustment for net realized loss (gain)	(26)	(71)	(59)	(732)
Net change in unrealized gain (loss)	419	(55)	4,717	(3,325)
Deferred income taxes on above change	(83)	13	(1,173)	842
Total other comprehensive income (loss), net of income taxes	336	(42)	3,544	(2,483)
Comprehensive income	$ 6,189	$ 8,955	$ 23,688	$ 23,708

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Share Repurchase Plan [Member]	Common Stock [Member]	Common Stock [Member]Share Repurchase Plan [Member]	Additional Paid-In Capital [Member]	Additional Paid-In Capital [Member]Share Repurchase Plan [Member]	Retained Income [Member]	Accumulated Other Comprehensive (Loss) Income, Net of Tax [Member]
Beginning Balance at Dec. 31, 2017	$ 193,975				$ 0		$ 189,409	$ 4,566
Beginning Balance, shares at Dec. 31, 2017			8,762,416
Net income	26,191						26,191
Total other comprehensive income (loss), net of income taxes	(2,483)							(2,483)
Reclassification of after-tax net unrealized holding gains related to equity securities							4,168	(4,168)
Reclassification of stranded tax effects related to available-for-sale fixed-maturity and equity securities							(984)	984
Issuance of restricted stock	0				0		0	0
Issuance of restricted stock, shares			189,860
Forfeiture of restricted stock, value	0				0		0	0
Forfeiture of restricted stock, shares			(52,452)
Repurchase and retirement of common stock, value	(941)	$ (19,867)			(941)	$ (19,867)
Repurchase and retirement of common stock, shares			(23,346)	(508,290)
Purchase of noncontrolling interest	(539)				(539)
Common stock dividends	(7,475)						(7,475)
Stock-based compensation	3,274				3,274
Additional paid-in capital shortfall allocated to retained income					18,073		(18,073)
Ending Balance at Sep. 30, 2018	192,135						193,236	(1,101)
Ending Balance, shares at Sep. 30, 2018			8,368,188
Beginning Balance at Jun. 30, 2018	191,021				0		192,080	(1,059)
Beginning Balance, shares at Jun. 30, 2018			8,517,888
Net income	8,997						8,997
Total other comprehensive income (loss), net of income taxes	(42)							(42)
Issuance of restricted stock	0				0		0	0
Issuance of restricted stock, shares			6,500
Forfeiture of restricted stock, value	0				0		0	0
Forfeiture of restricted stock, shares			(7,432)
Repurchase and retirement of common stock, value		(6,156)				(6,156)
Repurchase and retirement of common stock, shares				(148,768)
Common stock dividends	(3,054)						(3,054)
Stock-based compensation	1,369				1,369
Additional paid-in capital shortfall allocated to retained income					4,787		(4,787)
Ending Balance at Sep. 30, 2018	192,135						193,236	(1,101)
Ending Balance, shares at Sep. 30, 2018			8,368,188
Beginning Balance at Dec. 31, 2018	181,441						182,894	(1,453)
Beginning Balance, shares at Dec. 31, 2018			8,356,730
Net income	20,144						20,144
Total other comprehensive income (loss), net of income taxes	3,544							3,544
Exercise of common stock options, value	63				63
Exercise of common stock options, shares			10,000
Issuance of restricted stock, shares			180,404
Forfeiture of restricted stock, shares			(271,243)
Repurchase and retirement of common stock, value	(1,023)	(15,191)			(1,023)	(15,191)
Repurchase and retirement of common stock, shares			(24,849)	(367,736)
Common stock dividends	(9,599)						(9,599)
Stock-based compensation	4,694				4,694
Tax basis adjustment on equity method investment	132				132
Additional paid-in capital shortfall allocated to retained income					11,325		(11,325)
Ending Balance at Sep. 30, 2019	184,205						182,114	2,091
Ending Balance, shares at Sep. 30, 2019			7,883,306
Beginning Balance at Jun. 30, 2019	186,494						184,739	1,755
Beginning Balance, shares at Jun. 30, 2019			8,053,573
Net income	5,853						5,853
Total other comprehensive income (loss), net of income taxes	336							336
Issuance of restricted stock, shares			7,244
Forfeiture of restricted stock, shares			(2,351)
Repurchase and retirement of common stock, value		$ (7,185)				$ (7,185)
Repurchase and retirement of common stock, shares				(175,160)
Common stock dividends	(3,171)						(3,171)
Stock-based compensation	1,746				1,746
Tax basis adjustment on equity method investment	132				132
Additional paid-in capital shortfall allocated to retained income					$ 5,307		(5,307)
Ending Balance at Sep. 30, 2019	$ 184,205						$ 182,114	$ 2,091
Ending Balance, shares at Sep. 30, 2019			7,883,306

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement Of Stockholders Equity [Abstract]
Common stock dividends	$ 0.40	$ 0.375	$ 1.20	$ 1.10

Consolidated Statements of Cash

Consolidated Statements of Cash Flows $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)
Cash flows from operating activities:
Net income	$ 20,144	$ 26,191
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation	4,694	3,274
Net amortization of premiums on investments in fixed-maturity securities	171	344
Depreciation and amortization	6,677	8,195
Deferred income tax expense	1,231	1,173
Net realized investment losses (gains)	535	(6,520)
Net unrealized investment (gains) losses	(7,261)	4,547
Other-than-temporary impairment loss charged to income	0	80
Loss (income) from unconsolidated joint venture	71	(320)
Distributions received from unconsolidated joint venture		68
Net income from limited partnership interests	(1,308)	(2,816)
Distributions received from limited partnership interests	3,647	1,495
Foreign currency remeasurement loss	31	200
Other non-cash items	286
Changes in operating assets and liabilities:
Accrued interest and dividends receivable	(282)	456
Income taxes	656	13,187
Premiums receivable	(8,982)	(7,654)
Prepaid reinsurance premiums	(14,826)	(5,172)
Reinsurance recoverable	(39,533)	30,009
Deferred policy acquisition costs	(6,628)	(3,957)
Other assets	(4,165)	1,829
Losses and loss adjustment expenses	30,335	(60,164)
Unearned premiums	47,026	34,154
Advance premiums	5,454	5,402
Assumed reinsurance balances payable	(14)	127
Reinsurance recovered in advance on unpaid losses		(13,885)
Accrued expenses and other liabilities	135	(794)
Net cash provided by operating activities	38,094	29,449
Cash flows from investing activities:
Investments in limited partnership interests	(1,899)	(4,823)
Distributions received from limited partnership interests	1,163	384
Distributions received from unconsolidated joint venture		696
Purchase of property and equipment	(2,166)	(1,654)
Purchase of real estate investments	(10,475)	(6,685)
Purchase of intangible assets		(409)
Purchase of fixed-maturity securities	(79,355)	(58,098)
Purchase of equity securities	(19,278)	(41,844)
Purchase of short-term and other investments	(689)	(155,252)
Proceeds from sales of fixed-maturity securities	5,225	78,540
Proceeds from calls, repayments and maturities of fixed-maturity securities	50,738	52,843
Proceeds from sales of equity securities	34,345	55,879
Proceeds from sales, redemptions and maturities of short-term and other investments	66,902	67,991
Net cash provided by (used in) investing activities	44,511	(12,432)
Cash flows from financing activities:
Cash dividends paid	(9,829)	(8,371)
Cash dividends received under share repurchase forward contract	230	896
Proceeds from revolving credit facility	9,750
Proceeds from exercise of common stock options	63
Proceeds from issuance of long-term debt		6,000
Repayment of long-term debt	(90,980)	(804)
Repurchases of common stock	(1,023)	(941)
Repurchases of common stock under share repurchase plan	(15,191)	(19,867)
Purchase of non-controlling interest		(539)
Debt issuance costs	(459)	(105)
Net cash used in financing activities	(107,439)	(23,731)
Effect of exchange rate changes on cash	2	(196)
Net decrease in cash, cash equivalents, and restricted cash	(24,832)	(6,910)
Cash, cash equivalents, and restricted cash at beginning of period	240,158	256,693
Cash, cash equivalents, and restricted cash at end of period	215,326	249,783
Supplemental disclosure of cash flow information:
Cash paid for income taxes	5,285	3,625
Cash paid for interest	8,904	10,403
Non-cash investing and financing activities:
Unrealized gain (loss) on investments in available-for-sale securities, net of tax	3,544	(2,483)
Receivable from sales of equity securities		1,978
Receivable from maturities of fixed-maturity securities		15,070
Addition to property and equipment under capital lease	$ 18	$ 61

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 1 -- Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited, consolidated financial statements for HCI Group, Inc. and its majority-owned and controlled subsidiaries (collectively, the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information, and the Securities and Exchange Commission (“SEC”) rules for interim financial reporting. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to such rules and regulations. However, in the opinion of management, the accompanying consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the Company’s financial position as of September 30, 2019 and the results of operations and cash flows for the periods presented. The results of operations for the interim periods presented are not necessarily indicative of the results of operations to be expected for any subsequent interim period or for the fiscal year ending December 31, 2019. The accompanying unaudited consolidated financial statements and notes thereto should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2018 included in the Company’s Form 10-K, which was filed with the SEC on March 8, 2019. In preparing the interim unaudited consolidated financial statements, management was required to make certain judgments, assumptions, and estimates that affect the reported amounts of assets, liabilities, revenues, expenses and related disclosures at the financial reporting date and throughout the periods being reported upon. Certain of the estimates result from judgments that can be subjective and complex and consequently actual results may differ from these estimates. Material estimates that are particularly susceptible to significant change in the near term are related to the Company’s losses and loss adjustment expenses, which include amounts estimated for claims incurred but not yet reported. The Company uses various assumptions and actuarial data it believes to be reasonable under the circumstances to make these estimates. In addition, accounting policies specific to reinsurance with retrospective provisions, reinsurance recoverable, deferred income taxes, and stock-based compensation expense involve significant judgments and estimates material to the Company’s consolidated financial statements. All significant intercompany balances and transactions have been eliminated. Adoption of New Accounting Standards In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2016-02 (“ASU 2016-02”), Leases (Topic 842). The guidance establishes new principles that lessees and lessors will apply to report useful information to users of financial statements about the amount, timing, and uncertainty of cash flows arising from a lease. ASU 2016-02 is effective for the Company January 1, 2019 and supersedes accounting for leases prescribed in Topic 840, Leases. ASU 2016-02 leaves lessor accounting substantially unchanged. The key change affecting the Company is the requirement that operating leases be recorded on the balance sheet. Topic 842 was subsequently amended by ASU No. 2018-01, Land Easement Practical Expedient for Transition to Topic 842; ASU No. 2018-10, Codification Improvements to Topic 842, Leases; ASU No. 2018-11, Targeted Improvements; ASU No. 2018-20, Narrow-Scope Improvements for Lessors; and ASU No. 2019-01, Codification Improvements to Topic 842. The new standard establishes a right-of-use (“ROU”) model that requires a lessee to recognize a ROU asset and lease liability on the balance sheet for all leases with a term longer than 12 months. Leases will be classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the income statement. The Company was initially required to use a modified retrospective method and apply this standard at the beginning of the earliest comparative period presented in the financial statements. Subsequently, the FASB permitted the application of this standard at the beginning of the adoption period as an alternative. Effective January 1, 2019, the Company adopted the new standard using the effective date as its date of initial application. As a result, financial information is not updated and the disclosures required under the new standard are not provided for dates and periods prior to January 1, 2019. The Company elected a package of practical expedients, which permits the Company to not reassess under the new standard its prior conclusions about lease identification, lease classification, and initial direct costs. Upon adoption, the Company, as a lessee, recognized ROU assets of approximately $771 and lease liabilities of approximately $812 for all operating leases except for those that have a lease term of 12 months or less. Leases The Company leases office equipment, storage units, and office space from non-affiliates under terms ranging from one month up to ten years. In assessing whether a contract is or contains a lease, the Company first determines whether there is an identified asset in the contract. The Company then determines whether the contract conveys the right to obtain substantially all of the economic benefits from use of the identified asset or the right to direct the use of the identified asset. The Company elects not to record any lease with a term of 12 months or less on the consolidated balance sheet. For such short-term leases, the Company recognizes the lease payments in expense on a straight-line basis over the lease term. If the contract is or contains a lease and the Company has the right to control the use of the identified asset, the ROU asset and the lease liability is measured from the lease component of the contract and recognized on the consolidated balance sheet. In measuring the lease liability, the Company uses its incremental borrowing rate for a loan secured by a similar asset that has a term similar to the lease term to discount the lease payments. The contract is further evaluated to determine the classification of the lease as to whether it is finance or operating. If the lease is a finance lease, the ROU asset is depreciated to depreciation expense over the shorter of the useful life of the asset or the lease term. Interest expense is recorded in connection with the lease liability using the effective interest method. If the lease is an operating lease, the ROU asset is amortized to lease expense on a straight-line basis over the lease term. For the presentation of finance leases on the Company’s consolidated balance sheet, ROU assets and corresponding lease liabilities are included with property and equipment, net, and long-term debt, respectively. For the presentation of operating leases on the Company’s consolidated balance sheet, ROU assets and corresponding lease liabilities are included with other assets and other liabilities, respectively. The Company as a lessor leases its commercial and retail properties, boat slips, and docks to non-affiliates at various terms. If the contract gives the Company’s customer the right to control the use of the identified asset, revenue is recognized on a straight-line basis over the lease term. Initial direct costs incurred by the Company are deferred and amortized on a straight-line basis over the lease term. The Company also records an unbilled receivable, which is the amount by which straight-line revenue exceeds the amount billed in accordance with the lease. Reclassification Certain reclassifications of prior year amounts have been made to conform to the current year presentation.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2019
Accounting Changes And Error Corrections [Abstract]
Recent Accounting Pronouncements	Note 2 -- Recent Accounting Pronouncements Accounting Standard to be Adopted in Fiscal Year 2020 In June 2016, the FASB issued Accounting Standards Update No. 2016-13 (“ASU 2016-13”), Financial Instruments - Credit Losses (Topic 326), effective January 1, 2020. This update amends guidance on the recognition and measurement of credit losses for assets held at amortized cost and available-for-sale debt securities. For assets held at amortized cost, ASU 2016-13 eliminates the probable initial recognition threshold and, instead, requires credit losses to be measured using the Current Expected Credit Loss (“CECL”) model. The CECL model requires the measurement of all expected credit losses based on historical experience, current conditions, and reasonable and supportable forecasts which incorporate forward-looking information. For available-for-sale debt securities, credit losses will continue to be measured in a manner similar to the current standard. ASU 2016-13 requires a valuation allowance, rather than a write-down, to be recognized for the Company’s expected credit losses. The valuation allowance account is a deduction from the amortized cost basis of the financial assets to reflect the net amount expected to be collected. Any subsequent changes to the expected credit losses of the financial assets will be recorded in earnings. The Company is required to use the modified-retrospective method by recognizing a cumulative-effect adjustment to the beginning retained income of fiscal year 2020. As for debt securities in which an other-than-temporary impairment had been recognized before the effective date, the prospective transition method will be used. The Company does not anticipate a material impact on its financial position as a result of adopting this update.

Cash, Cash Equivalent, and Rest

Cash, Cash Equivalent, and Restricted Cash	9 Months Ended
	Sep. 30, 2019
Cash And Cash Equivalents [Abstract]
Cash and Cash Equivalents Disclosure [Text Block]	Note 3 -- Cash, Cash Equivalents, and Restricted Cash The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company’s consolidated balance sheets that sum to the total of the same such amounts shown in the statements of cash flows. September 30, December 31, 2019 2018 Cash and cash equivalents $ 214,626 $ 239,458 Restricted cash 700 700 Total $ 215,326 $ 240,158 Restricted cash primarily represents funds held by certain states in which the Company’s insurance subsidiaries conduct business to meet regulatory requirements.

Investments

Investments	9 Months Ended
	Sep. 30, 2019
Investments Debt And Equity Securities [Abstract]
Investments	Note 4 -- Investments a) Available-for-Sale Fixed-Maturity Securities The Company holds investments in fixed-maturity securities that are classified as available-for-sale. At September 30, 2019 and December 31, 2018, the cost or amortized cost, gross unrealized gains and losses, and estimated fair value of the Company’s available-for-sale securities by security type were as follows: Cost or Amortized Gross Unrealized Gross Unrealized Estimated Fair Cost Gain Loss Value As of September 30, 2019 U.S. Treasury and U.S. government agencies $ 26,399 $ 92 $ (7 ) $ 26,484 Corporate bonds 162,725 2,366 (322 ) 164,769 State, municipalities, and political subdivisions 9,995 166 — 10,161 Exchange-traded debt 8,746 472 (2 ) 9,216 Redeemable preferred stock 118 5 — 123 Total $ 207,983 $ 3,101 $ (331 ) $ 210,753 As of December 31, 2018 U.S. Treasury and U.S. government agencies $ 61,979 $ 24 $ (206 ) $ 61,797 Corporate bonds 103,580 134 (1,809 ) 101,905 State, municipalities, and political subdivisions 10,567 98 (3 ) 10,662 Exchange-traded debt 8,426 82 (261 ) 8,247 Redeemable preferred stock 118 — (6 ) 112 Total $ 184,670 $ 338 $ (2,285 ) $ 182,723 Expected maturities will differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without penalties. The scheduled contractual maturities of fixed-maturity securities as of September 30, 2019 and December 31, 2018 are as follows: Amortized Estimated Cost Fair Value As of September 30, 2019 Due in one year or less $ 50,836 $ 51,056 Due after one year through five years 144,989 146,773 Due after five years through ten years 8,068 8,518 Due after ten years 4,090 4,406 $ 207,983 $ 210,753 Amortized Estimated Cost Fair Value As of December 31, 2018 Due in one year or less $ 50,659 $ 50,574 Due after one year through five years 117,826 116,498 Due after five years through ten years 11,602 11,253 Due after ten years 4,583 4,398 $ 184,670 $ 182,723 Sales of Available-for-Sale Fixed-Maturity Securities Proceeds received, and the gross realized gains and losses from sales of available-for-sale securities, for the three and nine months ended September 30, 2019 and 2018 were as follows: Gross Realized Gross Realized Proceeds Gains Losses Three months ended September 30, 2019 $ 2,240 $ 27 $ (1 ) Three months ended September 30, 2018 $ 771 $ 71 $ — Nine months ended September 30, 2019 $ 5,225 $ 61 $ (2 ) Nine months ended September 30, 2018 $ 78,540 $ 1,232 $ (500 ) Other-than-temporary Impairment The Company regularly reviews its individual investment securities for other-than-temporary impairment. The Company considers various factors in determining whether each individual security is other-than-temporarily impaired, including- • the financial condition and near-term prospects of the issuer, including any specific events that may affect its operations or earnings; • the length of time and the extent to which the market value of the security has been below its cost or amortized cost; • general market conditions and industry or sector specific factors and other qualitative factors; • nonpayment by the issuer of its contractually obligated interest and principal payments; and • the Company’s intent and ability to hold the investment for a period of time sufficient to allow for the recovery of costs. There was no impairment loss recognized for the three and nine months ended September 30, 2019. The Company did not recognize any impairment loss for the three months ended September 30, 2018. For the nine months ended September 30, 2018, the Company recognized $80 of impairment loss on one fixed-maturity security. At September 30, 2019, none of the fixed-maturity securities were considered other-than-temporarily impaired versus one fixed-maturity security at September 30, 2018. Securities with gross unrealized loss positions at September 30, 2019 and December 31, 2018, aggregated by investment category and length of time the individual securities have been in a continuous loss position, are as follows: Less Than Twelve Months Twelve Months or Longer Total Gross Estimated Gross Estimated Gross Estimated Unrealized Fair Unrealized Fair Unrealized Fair As of September 30, 2019 Loss Value Loss Value Loss Value U.S. Treasury and U.S. government agencies $ (6 ) $ 3,394 $ (1 ) $ 699 $ (7 ) $ 4,093 Corporate bonds (1 ) 4,093 (321 ) 1,323 (322 ) 5,416 Exchange-traded debt (2 ) 286 — — (2 ) 286 Total $ (9 ) $ 7,773 $ (322 ) $ 2,022 $ (331 ) $ 9,795 At September 30, 2019, there were 11 securities in an unrealized loss position. Of these securities, five securities had been in an unrealized loss position for 12 months or longer. Less Than Twelve Months Twelve Months or Longer Total Gross Estimated Gross Estimated Gross Estimated Unrealized Fair Unrealized Fair Unrealized Fair As of December 31, 2018 Loss Value Loss Value Loss Value U.S. Treasury and U.S. government agencies $ (59 ) $ 21,031 $ (147 ) $ 35,393 $ (206 ) $ 56,424 Corporate bonds (542 ) 19,932 (1,267 ) 36,682 (1,809 ) 56,614 State, municipalities, and political subdivisions (3 ) 715 — — (3 ) 715 Exchange-traded debt (261 ) 5,275 — — (261 ) 5,275 Redeemable preferred stock (6 ) 112 — — (6 ) 112 Total $ (871 ) $ 47,065 $ (1,414 ) $ 72,075 $ (2,285 ) $ 119,140 At December 31, 2018, there were 82 securities in an unrealized loss position. Of these securities, 35 securities had been in an unrealized loss position for 12 months or longer. b) Equity Securities The Company holds investments in equity securities measured at fair values which are readily determinable. At September 30, 2019 and December 31, 2018, the cost, gross unrealized gains and losses, and estimated fair value of the Company’s equity securities were as follows: Gross Unrealized Gross Unrealized Estimated Fair Cost Gain Loss Value September 30, 2019 $ 29,710 $ 3,179 $ (446 ) $ 32,443 December 31, 2018 $ 45,671 $ 1,059 $ (5,587 ) $ 41,143 The table below presents the portion of unrealized gains and losses in the Company’s consolidated statement of income for the periods related to equity securities still held. Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Net gains recognized $ 586 $ 1,097 $ 6,616 $ 1,167 Exclude: Net realized (losses) gains recognized for securities sold (56 ) 1,487 (645 ) 5,714 Net unrealized gains (losses) recognized $ 642 $ (390 ) $ 7,261 $ (4,547 ) Sales of Equity Securities Proceeds received, and the gross realized gains and losses from sales of equity securities, for the three and nine months ended September 30, 2019 and 2018 were as follows: Gross Realized Gross Realized Proceeds Gains Losses Three months ended September 30, 2019 $ 1,504 $ 43 $ (99 ) Three months ended September 30, 2018 $ 15,443 $ 1,926 $ (439 ) Nine months ended September 30, 2019 $ 34,345 $ 2,230 $ (2,875 ) Nine months ended September 30, 2018 $ 55,879 $ 6,897 $ (1,183 ) c) Short-Term Investments Short-term investments consist of the following at September 30, 2019 and December 31, 2018. September 30, December 31, 2019 2018 Certificates of deposit $ — $ 56,519 Zero-coupon commercial paper 495 9,960 Total $ 495 $ 66,479 d) Limited Partnership Investments The Company has interests in limited partnerships that are not registered or readily tradeable on a securities exchange. These partnerships are private equity funds managed by general partners who make decisions with regard to financial policies and operations. As such, the Company is not the primary beneficiary and does not consolidate these partnerships. The following table provides information related to the Company’s investments in limited partnerships: September 30, 2019 December 31, 2018 Carrying Unfunded Carrying Unfunded Investment Strategy Value Balance (%)(a) Value Balance (%)(a) Primarily in senior secured loans and, to a limited extent, in other debt and equity securities of private U.S. lower-middle-market companies. (b)(c)(e) $ 10,311 $ 2,085 15.37 $ 10,169 $ 2,577 15.37 Value creation through active distressed debt investing primarily in bank loans, public and private corporate bonds, asset-backed securities, and equity securities received in connection with debt restructuring. (b)(d)(e) 6,497 — 1.76 9,219 — 1.76 High returns and long-term capital appreciation through investments in the power, utility and energy industries, and in the infrastructure sector. (b)(f)(g) 9,415 1,391 0.18 9,023 2,329 0.18 Value-oriented investments in less liquid and mispriced senior and junior debts of private equity-backed companies. (b)(h)(i) 1,418 3,300 0.47 1,156 3,706 0.47 Value-oriented investments in mature real estate private equity funds and portfolio globally. (b)(j) 3,049 7,629 2.24 2,726 7,692 3.28 Total $ 30,690 $ 14,405 $ 32,293 $ 16,304 (a) Represents the Company’s percentage investment in the fund at each balance sheet date. (b) Except under certain circumstances, withdrawals from the funds or any assignments are not permitted. Distributions, except income from late admission of a new limited partner, will be received when underlying investments of the funds are liquidated. (c) Expected to have a ten-year term, although the capital commitment period has expired, there are still follow-on investments and pending commitments that require additional fundings. (d) Expected to have a three-year term from June 30, 2018. Although the capital commitment period already ended, the general partner could still request an additional funding of approximately $843 under certain circumstances. (e) At the fund manager’s discretion, the term of the fund may be extended for up to two additional one-year periods. (f) Expected to have a ten-year term and the capital commitment is expected to expire on June 30, 2020. (g) With the consent of a supermajority of partners, the term of the fund may be extended for up to three additional one-year periods. (h) Expected to have a six-year term from the commencement date, which can be extended for up to two additional one-year periods with the consent of either the advisory committee or a majority of limited partners. (i) Unless extended or terminated for reasons specified in the agreement, the capital commitment is expected to expire on December 1, 2019. (j) Expected to have an eight-year term after the final fund closing date, which has yet to be determined. The following is the summary of aggregated unaudited financial information of limited partnerships included in the investment strategy table above, which in certain cases is presented on a three-month lag due to the unavailability of information at the Company’s respective balance sheet dates. In applying the equity method of accounting, the Company uses the most recently available financial information provided by the general partner of each of these partnerships. The financial statements of these limited partnerships are audited annually. Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Operating results: Total income $ (100,043 ) $ 959,721 $ 147,858 $ 1,168,751 Total expenses (27,212 ) (30,192 ) (108,385 ) (115,887 ) Net income $ (127,255 ) $ 929,529 $ 39,473 $ 1,052,864 September 30, December 31, 2019 2018 Balance Sheet: Total assets $ 6,690,633 $ 6,689,792 Total liabilities $ 466,985 $ 394,029 For the three and nine months ended September 30, 2019, the Company recognized net investment income of $476 and $1,308, respectively, for these investments. During the three and nine months ended September 30, 2019, the Company received total cash distributions of $724 and $4,810, respectively. Cash distributions representing return on investment were $31 and $3,647 for the three and nine months ended September 30, 2019, respectively. For the three and nine months ended September 30, 2018, the Company recognized net investment income of $1,964 and $2,816, respectively. During the three months ended September 30, 2018, the Company received total cash distributions of $1,156, representing $270 of returned capital and $886 of return on investment. During the nine months ended September 30, 2018, the Company received total cash distributions of $1,879, representing $384 of returned capital and $1,495 of return on investment. At September 30, 2019 and December 31, 2018, the Company’s cumulative contributed capital to the partnerships at each respective balance sheet date totaled $30,253 and $28,354, respectively, and the Company’s maximum exposure to loss aggregated $30,690 and $32,293, respectively. e) Investment in Unconsolidated Joint Venture Melbourne FMA, LLC, a wholly owned subsidiary, currently has an equity investment in FMKT Mel JV, a Florida limited liability company treated as a joint venture under U.S. GAAP. At September 30, 2019 and December 31, 2018, the Company’s maximum exposure to loss relating to the variable interest entity was $774 and $845, respectively, representing the carrying value of the investment. There were no cash distributions during the three months ended September 30, 2019 and 2018. The Company did not receive any cash distribution during the nine months ended September 30, 2019. During the nine months ended September 30, 2018, the Company received a cash distribution of $764, representing a combined distribution of $68 in earnings and $696 in capital. At September 30, 2019 and December 31, 2018, there was no undistributed income from this equity method investment. The following tables provide FMJV’s summarized unaudited financial results and the unaudited financial positions: Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Operating results: Total revenues and gain $ — $ — $ 2 $ 438 Total expenses (18 ) (12 ) (80 ) (83 ) Net (loss) income $ (18 ) $ (12 ) $ (78 ) $ 355 The Company’s share of net (loss) income* $ (17 ) $ (10 ) $ (71 ) $ 320 * Included in net investment income in the Company’s consolidated statements of income. September 30, December 31, 2019 2018 Balance Sheet: Property and equipment, net $ 750 $ 787 Cash 124 149 Other 4 5 Total assets $ 878 $ 941 Other liabilities $ 18 $ 3 Members’ capital 860 938 Total liabilities and members’ capital $ 878 $ 941 Investment in unconsolidated joint venture, at equity** $ 774 $ 845 * * Includes the 90% share of FMKT Mel JV’s operating results. f) Real Estate Investments Real estate investments consist of the following as of September 30, 2019 and December 31, 2018. September 30, December 31, 2019 2018 Land $ 32,473 $ 23,884 Land improvements 10,255 8,717 Buildings 19,207 19,201 Tenant and leasehold improvements 1,379 1,261 Other 5,112 5,266 Total, at cost 68,426 58,329 Less: accumulated depreciation and amortization (4,972 ) (3,839 ) Real estate investments $ 63,454 $ 54,490 On February 27, 2019, the Company acquired approximately nine acres of undeveloped land located near its current headquarters in Tampa, Florida for a purchase price of $8,500, which was primarily financed by the Company’s revolving credit facility. The transaction was accounted for as an asset acquisition. As such, all acquisition-related costs were capitalized. Depreciation and amortization expense related to real estate investments was $379 and $389 for the three months ended September 30, 2019 and 2018, respectively, and $1,133 and $1,185 for the nine months ended September 30, 2019 and 2018, respectively. g) Net Investment Income Net investment income (loss), by source, is summarized as follows: Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Available-for-sale fixed-maturity securities $ 1,637 $ 1,273 $ 4,794 $ 3,531 Equity securities 305 486 979 1,641 Investment expense (114 ) (137 ) (349 ) (447 ) Limited partnership investments 476 1,964 1,308 2,816 Real estate investments (28 ) 22 173 239 (Loss) income from unconsolidated joint venture (17 ) (10 ) (71 ) 320 Cash and cash equivalents 1,354 889 3,908 2,531 Short-term investments 8 567 383 1,040 Net investment income $ 3,621 $ 5,054 $ 11,125 $ 11,671

Comprehensive Income (Loss)

Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Comprehensive Income (Loss)	Note 5 -- Comprehensive Income (Loss) Comprehensive income (loss) includes net income and other comprehensive income or loss, which for the Company includes changes in unrealized gains or losses of investments carried at fair value and changes in the unrealized other-than-temporary impairment losses related to these investments. Reclassification adjustments for realized (gains) losses are reflected in net realized investment gains (losses) on the consolidated statements of income. The components of other comprehensive income or loss and the related tax effects allocated to each component were as follows: Three Months Ended Three Months Ended September 30, 2019 September 30, 2018 Income Tax Before Income Tax Net of Before Expense Net of Tax Expense Tax Tax (Benefit) Tax Unrealized gain arising during the period $ 447 $ 90 $ 357 $ 35 $ 9 $ 26 Call and repayment gains charged to investment income (2 ) — (2 ) (19 ) (5 ) (14 ) Reclassification adjustment for realized gains (26 ) (7 ) (19 ) (71 ) (17 ) (54 ) Total other comprehensive gain (loss) $ 419 $ 83 $ 336 $ (55 ) $ (13 ) $ (42 ) Nine Months Ended Nine Months Ended September 30, 2019 September 30, 2018 Income Tax Before Income Tax Net of Before Expense Net of Tax Expense Tax Tax (Benefit) Tax Unrealized gain (loss) arising during the period $ 4,777 $ 1,188 $ 3,589 $ (2,658 ) $ (673 ) $ (1,985 ) Other-than-temporary impairment loss — — — 80 20 60 Call and repayment gains charged to investment income (1 ) — (1 ) (15 ) (4 ) (11 ) Reclassification adjustment for realized gains (59 ) (15 ) (44 ) (732 ) (185 ) (547 ) Total other comprehensive gain (loss) $ 4,717 $ 1,173 $ 3,544 $ (3,325 ) $ (842 ) $ (2,483 )

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 6 -- Fair Value Measurements The Company records and discloses certain financial assets at their estimated fair value. The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels as follows: Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 - Other inputs that are observable for the asset, either directly or indirectly such as quoted prices for identical assets that are not observable throughout the full term of the asset. Level 3 - Inputs that are unobservable. Valuation Methodology Cash and cash equivalents Cash and cash equivalents primarily consist of money-market funds and certificates of deposit maturing within 90 days. Their carrying value approximates fair value due to the short maturity and high liquidity of these funds. Short-term investments Short-term investments consist of certificates of deposit and zero-coupon commercial paper with maturities of 91 to 365 days. Due to their short maturity, the carrying value approximates fair value. Fixed-maturity and equity securities Estimated fair values of the Company’s fixed-maturity and equity securities are determined in accordance with U.S. GAAP, using valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. Fair values are generally measured using quoted prices in active markets for identical securities or other inputs that are observable either directly or indirectly, such as quoted prices for similar securities. In those instances where observable inputs are not available, fair values are measured using unobservable inputs. Unobservable inputs reflect the Company’s own assumptions about the assumptions that market participants would use in pricing the security and are developed based on the best information available in the circumstances. Fair value estimates derived from unobservable inputs are significantly affected by the assumptions used, including the discount rates and the estimated amounts and timing of future cash flows. The derived fair value estimates cannot be substantiated by comparison to independent markets and are not necessarily indicative of the amounts that would be realized in a current market exchange. The estimated fair values for securities that do not trade on a daily basis are determined by management, utilizing prices obtained from an independent pricing service and information provided by brokers, which are level 2 inputs. Management reviews the assumptions and methods utilized by the pricing service and then compares the relevant data and pricing to broker-provided data. The Company gains assurance of the overall reasonableness and consistent application of the assumptions and methodologies and compliance with accounting standards for fair value determination through ongoing monitoring of the reported fair values. Limited Partnership Investments As described in Note 4 -- “Investments” under Limited Partnership Investments Revolving Credit Facility The Company’s revolving credit facility is a variable-rate loan. The interest rate is periodically adjusted based on the London Interbank Offered Rate plus a spread. As a result, its carrying value approximates fair value. Long-term debt The following table summarizes components of the Company’s long-term debt and methods used in estimating their fair values: Maturity Date Valuation Methodology 3.875% Convertible senior notes 2019 Quoted price 4.25% Convertible senior notes 2037 Quoted price 3.95% Promissory note 2020 Discounted cash flow method/Level 3 inputs 4% Promissory note 2031 Discounted cash flow method/Level 3 inputs 3.75% Callable promissory note 2036 Discounted cash flow method/Level 3 inputs 4.55% Promissory note 2036 Discounted cash flow method/Level 3 inputs Assets Measured at Estimated Fair Value on a Recurring Basis The following table presents information about the Company’s financial assets measured at estimated fair value on a recurring basis. The table indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value as of September 30, 2019 and December 31, 2018: Fair Value Measurements Using (Level 1) (Level 2) (Level 3) Total As of September 30, 2019 Financial Assets: Cash and cash equivalents $ 214,626 $ — $ — $ 214,626 Restricted cash $ 700 $ — $ — $ 700 Short-term investments $ 495 $ — $ — $ 495 Fixed-maturity securities: U.S. Treasury and U.S. government agencies $ 25,483 $ 1,001 $ — $ 26,484 Corporate bonds 164,769 — — 164,769 State, municipalities, and political subdivisions — 10,161 — 10,161 Exchange-traded debt 9,216 — — 9,216 Redeemable preferred stock 123 — — 123 Total available-for-sale securities 199,591 11,162 — 210,753 Equity securities $ 32,443 $ — $ — $ 32,443 Fair Value Measurements Using (Level 1) (Level 2) (Level 3) Total As of December 31, 2018 Financial Assets: Cash and cash equivalents $ 239,458 $ — $ — $ 239,458 Restricted cash $ 700 $ — $ — $ 700 Short-term investments $ 66,479 $ — $ — $ 66,479 Fixed-maturity securities: U.S. Treasury and U.S. government agencies $ 60,297 $ 1,500 $ — $ 61,797 Corporate bonds 101,905 — — 101,905 State, municipalities, and political subdivisions — 10,662 — 10,662 Exchange-traded debt 8,247 — — 8,247 Redeemable preferred stock 112 — — 112 Total available-for-sale securities $ 170,561 $ 12,162 $ — $ 182,723 Equity securities $ 41,143 $ — $ — $ 41,143 Assets and Liabilities Carried at Other Than Estimated Fair Value The following tables present fair value information for assets and liabilities that are carried on the balance sheet at amounts other than fair value as of September 30, 2019 and December 31, 2018: Carrying Fair Value Measurements Using Estimated Value (Level 1) (Level 2) (Level 3) Fair Value As of September 30, 2019 Financial Assets: Limited partnership investments $ 30,690 $ — $ — $ 30,690 $ 30,690 Financial Liabilities: Revolving credit facility $ 9,750 $ 9,750 $ — $ — $ 9,750 Long-term debt: 4.25% Convertible senior notes $ 133,058 $ — $ 142,852 $ — $ 142,852 3.95% Promissory note 8,927 — — 8,963 8,963 4% Promissory note 7,363 — — 7,632 7,632 3.75% Callable promissory note 7,919 — — 7,954 7,954 4.55% Promissory note 5,665 — — 5,962 5,962 Total long-term debt $ 162,932 $ — $ 142,852 $ 30,511 $ 173,363 Carrying Fair Value Measurements Using Estimated Value (Level 1) (Level 2) (Level 3) Fair Value As of December 31, 2018 Financial Assets: Limited partnership investments $ 32,293 $ — $ — $ 32,293 $ 32,293 Financial Liabilities: Long-term debt: 3.875% Convertible senior notes $ 89,181 $ — $ 89,824 $ — $ 89,824 4.25% Convertible senior notes 130,120 — 145,617 — 145,617 3.95% Promissory note 9,077 — — 9,128 9,128 4% Promissory note 7,732 — — 7,788 7,788 3.75% Callable promissory note 8,159 — — 8,001 8,001 4.55% Promissory note 5,826 — — 6,025 6,025 Total long-term debt $ 250,095 $ — $ 235,441 $ 30,942 $ 266,383

Other Assets

Other Assets	9 Months Ended
	Sep. 30, 2019
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Other Assets	Note 7 -- Other Assets The following table summarizes the Company’s other assets. September 30, December 31, 2019 2018 Benefits receivable related to retrospective reinsurance contract $ 6,960 $ 3,136 Prepaid expenses 2,411 2,069 Deposits 1,767 1,413 Lease acquisition costs, net 559 620 Right-of-use assets – operating leases 557 — Other 1,197 1,766 Total other assets $ 13,451 $ 9,004

Revolving Credit Facility

Revolving Credit Facility	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Revolving Credit Facility	Note 8 -- Revolving Credit Facility In February 2019, the Company borrowed $8,000 to fund the purchase of the undeveloped land as described in Note 4 -- “Investments” under Real Estate Investments

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Long-Term Debt	Note 9 -- Long-Term Debt The following table summarizes the Company’s long-term debt. September 30, December 31, 2019 2018 3.875% Convertible senior notes, due March 15, 2019 $ — $ 89,990 4.25% Convertible senior notes, due March 1, 2037 143,750 143,750 3.95% Promissory note, due through February 17, 2020 8,943 9,125 4% Promissory note, due through February 1, 2031 7,475 7,857 3.75% Callable promissory note, due through September 1, 2036 8,040 8,290 4.55% Promissory note, due through August 1, 2036 5,761 5,928 Finance lease liabilities, due through August 15, 2023 64 55 Total principal amount 174,033 264,995 Less: unamortized discount and issuance costs (11,037 ) (14,845 ) Total long-term debt $ 162,996 $ 250,150 The following table summarizes future maturities of long-term debt as of September 30, 2019, which takes into consideration the assumption that the 4.25% Convertible Senior Notes are repurchased at the earliest call date. Due in 12 months following September 30, 2019 $ 10,064 2020 1,166 2021 144,963 2022 1,258 2023 1,297 Thereafter 15,285 Total $ 174,033 Information with respect to interest expense related to long-term debt is as follows: Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Interest Expense: Contractual interest $ 1,835 $ 2,717 $ 6,229 $ 8,024 Non-cash expense (a) 1,018 1,888 3,807 5,556 Capitalized interest (b) (78 ) (53 ) (236 ) (53 ) $ 2,775 $ 4,552 $ 9,800 $ 13,527 (a) Includes amortization of debt discount and issuance costs. (b) Interest was capitalized for a construction project. Convertible Senior Notes On March 15, 2019, the Company repaid the remaining principal balance of its 3.875% Convertible Notes totaling $89,990 plus accrued interest of $1,744. Prior to the repayment, the conversion rate of the 3.875% Convertible Notes was 16.4074 shares of common stock for each $1 in principal amount, which was the equivalent of approximately $60.95 per share. 4.25% Convertible Notes . Since May 2018, the Company’s cash dividends on common stock have exceeded $0.35 per share, resulting in adjustments to the conversion rate of the 4.25% Convertible Notes. Accordingly, as of September 30, 2019, the conversion rate of the Company’s 4.25% Convertible Notes was 16.3481 shares of common stock for each $1 in principal amount, which was the equivalent of approximately $61.17 per share. As of September 30, 2019, the remaining amortization period of the debt discount for 4.25% Convertible Notes was expected to be 2.42 years.

Reinsurance

Reinsurance	9 Months Ended
	Sep. 30, 2019
Insurance [Abstract]
Reinsurance	Note 10 -- Reinsurance The Company cedes a portion of its insurance exposure to other entities under catastrophe excess of loss reinsurance contracts and one quota share reinsurance agreement. The Company remains liable for claims payments in the event that any reinsurer is unable to meet its obligations under the reinsurance agreements. Failure of reinsurers to honor their obligations could result in losses to the Company. The Company evaluates the financial condition of its reinsurers and monitors concentrations of credit risk arising from similar geographic regions, activities or economic characteristics of the reinsurers to minimize its exposure to significant losses from reinsurer insolvencies. The Company contracts with a number of reinsurers to secure its annual reinsurance coverage, which generally becomes effective June 1st each year. The Company purchases reinsurance each year taking into consideration probable maximum losses and reinsurance market conditions. The impact of the reinsurance contracts on premiums written and earned is as follows: Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Premiums Written: Direct $ 97,331 $ 90,370 $ 298,384 $ 292,986 Assumed — (10 ) (2 ) (107 ) Gross written 97,331 90,360 298,382 292,879 Ceded (31,568 ) (31,986 ) (94,298 ) (97,190 ) Net premiums written $ 65,763 $ 58,374 $ 204,084 $ 195,689 Premiums Earned: Direct $ 86,002 $ 85,804 $ 251,916 $ 255,840 Assumed — 359 (2 ) 2,014 Gross earned 86,002 86,163 251,914 257,854 Ceded (31,568 ) (31,986 ) (94,298 ) (97,190 ) Net premiums earned $ 54,434 $ 54,177 $ 157,616 $ 160,664 The Company recognized ceded losses of $113,888 in each of the three and nine months ended September 30, 2019. During the three and nine months ended September 30, 2018, ceded losses of $27 and $58,493, respectively, were recognized as a reduction in losses and losses adjustment expenses. At September 30, 2019 and December 31, 2018, there were 31 and 38 reinsurers, respectively, participating in the Company’s reinsurance program. Total amounts recoverable and receivable from reinsurers at September 30, 2019 and December 31, 2018 were $163,444 and $123,911, respectively. Approximately 40.4% of the reinsurance recoverable balance at September 30, 2019 was concentrated in four reinsurers. Based on the insurance ratings, the payment history and the financial strength of the reinsurers, management believes there was no significant credit risk associated with its reinsurers’ obligations to perform on any prepaid reinsurance contract and to fund any reinsurance recoverable balance as of September 30, 2019. One of the reinsurance contracts includes retrospective provisions that adjust premiums in the event losses are minimal or zero. For the three and nine months ended September 30, 2019, the Company recognized reductions in premiums ceded of $2,520 and $4,258, respectively, related to these adjustments. In contrast, these adjustments were reflected in the consolidated statements of income as a net reduction in ceded premiums of $600 for the three months ended September 30, 2018 and a net increase in ceded premiums of $115 for the nine months ended September 30, 2018. Included in the three and nine months ended September 30, 2018 were $0 and $448, respectively, attributable to the Company’s contract with Oxbridge Reinsurance Limited, a related party, which was terminated effective June 1, 2018. In addition, adjustments related to retrospective provisions are reflected in other assets. At September 30, 2019 and December 31, 2018, other assets included $6,960 and $3,136 related to these adjustments, respectively. Management believes the credit risk associated with the collectability of these accrued benefits is minimal as the amount receivable is concentrated with one reinsurer and the Company monitors the creditworthiness of this reinsurer based on available information about the reinsurer’s financial condition.

Losses and Loss Adjustment Expe

Losses and Loss Adjustment Expenses	9 Months Ended
	Sep. 30, 2019
Insurance [Abstract]
Losses and Loss Adjustment Expenses	Note 11 -- Losses and Loss Adjustment Expenses The liability for losses and loss adjustment expenses is determined on an individual case basis for all claims reported. The liability also includes amounts for unallocated expenses, anticipated future claim development and losses incurred, but not reported. The Company primarily writes insurance in the state of Florida, which could be exposed to hurricanes or other natural catastrophes. The occurrence of a major catastrophe could have a significant effect on the Company’s quarterly results and cause a temporary disruption of the normal operations of the Company. However, the Company is unable to predict the frequency or severity of any such events that may occur in the near term or thereafter. Activity in the liability for unpaid losses and loss adjustment expenses is summarized as follows: Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Net balance, beginning of period* $ 95,345 $ 89,389 $ 94,826 $ 97,818 Incurred, net of reinsurance, related to: Current period 25,177 21,250 70,914 61,657 Prior period 2,150 4,519 7,702 5,570 Total incurred, net of reinsurance 27,327 25,769 78,616 67,227 Paid, net of reinsurance, related to: Current period (15,111 ) (14,397 ) (32,819 ) (28,554 ) Prior period (12,763 ) (13,242 ) (45,825 ) (48,972 ) Total paid, net of reinsurance (27,874 ) (27,639 ) (78,644 ) (77,526 ) Net balance, end of period 94,798 87,519 94,798 87,519 Add: reinsurance recoverable 143,123 50,895 143,123 50,895 Gross balance, end of period $ 237,921 $ 138,414 $ 237,921 $ 138,414 *Net balance represents beginning-of-period liability for unpaid losses and loss adjustment expenses less beginning-of-period reinsurance recoverable for unpaid losses and loss adjustment expenses. The establishment of loss reserves is an inherently uncertain process and changes in loss reserve estimates are expected as these estimates are subject to the outcome of future events. Changes in estimates, or differences between estimates and amounts ultimately paid, are reflected in the operating results of the period during which such estimates are adjusted. During the three and nine months ended September 30, 2019, the Company recognized losses related to prior periods of $2,150 and $7,702, respectively, which were primarily attributable to unfavorable development resulting from litigation. Included in adverse development for the nine months ended September 30, 2019 were losses related to Hurricane Matthew of $1,052. Losses for the 2019 loss year included estimated losses of $6,500 related to one severe storm event during the first quarter. During the three months ended September 30, 2019, the Company increased its estimated gross losses for Hurricane Irma from $411,000 to $514,000 and for Hurricane Michael from $22,250 to $33,000 due to an increase in the number of claims and lawsuits. These increases had no impact to the Company’s results of operations as these additional losses were entirely ceded.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Segment Information	Note 12 -- Segment Information The Company identifies its operating divisions based on organizational structure and revenue source. Currently, the Company has three reportable segments: insurance operations, real estate operations, and corporate and other. Due to their economic characteristics, the Company’s property and casualty insurance division and reinsurance division are grouped together into one reportable segment under insurance operations. The real estate operations segment includes companies engaged in operating commercial properties the Company owns for investment purposes or for use in its own operations. The corporate and other segment represents the activities of the holding companies, the information technology division, and other companies that do not meet the quantitative and qualitative thresholds for a reportable segment. The determination of segments may change over time due to changes in operational emphasis, revenues, and results of operations. The Company’s chief executive officer, who serves as the Company’s chief operating decision maker, evaluates each division’s financial and operating performance based on revenue and operating income. For the three months ended September 30, 2019 and 2018, revenues from the Company’s insurance operations before intracompany elimination represented 95.2% and 95.3%, respectively, of total revenues of all operating segments. For the nine months ended September 30, 2019 and 2018, revenues from the Company’s insurance operations before intracompany elimination represented 95.0% and 95.3%, respectively, of total revenues of all operating segments. At September 30, 2019 and December 31, 2018, insurance operations’ total assets represented 86.2% and 85.5%, respectively, of the combined assets of all operating segments. The following tables present segment information reconciled to the Company’s consolidated statements of income. Intersegment transactions are not eliminated from segment results. However, intracompany transactions are eliminated in segment results below. Insurance Real Corporate/ Reclassification/ For Three Months Ended September 30, 2019 Operations Estate(a) Other(b) Elimination Consolidated Revenue: Net premiums earned $ 54,434 $ — $ — $ — $ 54,434 Net investment income 3,365 — 461 (205 ) 3,621 Net realized investment (losses) gains (33 ) — 3 — (30 ) Net unrealized investment gains 533 — 109 — 642 Policy fee income 811 — — — 811 Other 186 2,317 1,341 (3,343 ) 501 Total revenue 59,296 2,317 1,914 (3,548 ) 59,979 Expenses: Losses and loss adjustment expenses 27,327 — — — 27,327 Amortization of deferred policy acquisition costs 9,556 — — — 9,556 Interest expense 1 409 2,659 (162 ) 2,907 Depreciation and amortization 29 627 261 (530 ) 387 Other 7,978 1,292 5,669 (2,856 ) 12,083 Total expenses 44,891 2,328 8,589 (3,548 ) 52,260 Income (loss) before income taxes $ 14,405 $ (11 ) $ (6,675 ) $ — $ 7,719 Total revenue from non-affiliates(c) $ 59,296 $ 1,910 $ 1,466 (a) Other revenue under real estate primarily consisted of rental income from investment properties. (b) Other revenue under corporate and other primarily consisted of revenue from restaurant and marina businesses. (c) Represents amounts before reclassification to conform with an insurance company’s presentation. Insurance Real Corporate/ Reclassification/ For Three Months Ended September 30, 2018 Operations Estate(a) Other(b) Elimination Consolidated Revenue: Net premiums earned $ 54,177 $ — $ — $ — $ 54,177 Net investment income 2,777 — 2,377 (100 ) 5,054 Net realized investment gains 1,227 — 399 — 1,626 Net unrealized investment (losses) gains (478 ) — 88 — (390 ) Policy fee income 843 — — — 843 Other 80 2,318 1,214 (3,179 ) 433 Total revenue 58,626 2,318 4,078 (3,279 ) 61,743 Expenses: Losses and loss adjustment expenses 25,769 — — — 25,769 Amortization of deferred policy acquisition costs 8,996 — — — 8,996 Interest expense — 393 4,270 (111 ) 4,552 Depreciation and amortization 32 592 242 (540 ) 326 Other 6,187 1,166 5,452 (2,628 ) 10,177 Total expenses 40,984 2,151 9,964 (3,279 ) 49,820 Income (loss) before income taxes $ 17,642 $ 167 $ (5,886 ) $ — $ 11,923 Total revenue from non-affiliates(c) $ 58,626 $ 1,935 $ 3,806 (a) Other revenue under real estate primarily consisted of rental income from investment properties. (b) Other revenue under corporate and other primarily consisted of revenue from restaurant and marina businesses. (c) Represents amounts before reclassification to conform with an insurance company’s presentation. Insurance Real Corporate/ Reclassification/ For Nine Months Ended September 30, 2019 Operations Estate(a) Other(b) Elimination Consolidated Revenue: Net premiums earned $ 157,616 $ — $ — $ — $ 157,616 Net investment income 9,381 — 2,064 (320 ) 11,125 Net realized investment gains (losses) 33 — (568 ) — (535 ) Net unrealized investment gains 5,951 — 1,310 — 7,261 Policy fee income 2,406 — — — 2,406 Other 524 7,009 4,590 (10,753 ) 1,370 Total revenue 175,911 7,009 7,396 (11,073 ) 179,243 Expenses: Losses and loss adjustment expenses 78,616 — — — 78,616 Amortization of deferred policy acquisition costs 26,982 — — — 26,982 Interest expense 2 1,174 9,374 (422 ) 10,128 Depreciation and amortization 82 1,878 791 (1,586 ) 1,165 Other 22,842 3,866 17,392 (9,065 ) 35,035 Total expenses 128,524 6,918 27,557 (11,073 ) 151,926 Income (loss) before income taxes $ 47,387 $ 91 $ (20,161 ) $ — $ 27,317 Total revenue from non-affiliates(c) $ 175,911 $ 5,787 $ 6,088 (a) Other revenue under real estate primarily consisted of rental income from investment properties. (b) Other revenue under corporate and other primarily consisted of revenue from restaurant and marina businesses. (c) Represents amounts before reclassification to conform with an insurance company’s presentation. Insurance Real Corporate/ Reclassification/ For Nine Months Ended September 30, 2018 Operations Estate(a) Other(b) Elimination Consolidated Revenue: Net premiums earned $ 160,664 $ — $ — $ — $ 160,664 Net investment income 7,520 1 3,941 209 11,671 Net realized investment gains 4,982 — 1,538 — 6,520 Net unrealized investment losses (3,985 ) — (562 ) — (4,547 ) Net other-than-temporary impairment losses — — (80 ) — (80 ) Policy fee income 2,563 — — — 2,563 Other 452 6,965 3,948 (9,861 ) 1,504 Total revenue 172,196 6,966 8,785 (9,652 ) 178,295 Expenses: Losses and loss adjustment expenses 67,227 — — — 67,227 Amortization of deferred policy acquisition costs 26,506 — — — 26,506 Interest expense — 1,176 12,700 (349 ) 13,527 Depreciation and amortization 98 1,788 751 (1,638 ) 999 Other 20,135 3,202 16,117 (7,665 ) 31,789 Total expenses 113,966 6,166 29,568 (9,652 ) 140,048 Income (loss) before income taxes $ 58,230 $ 800 $ (20,783 ) $ — $ 38,247 Total revenue from non-affiliates(c) $ 172,196 $ 5,818 $ 7,945 (a) Other revenue under real estate primarily consisted of rental income from investment properties. (b) Other revenue under corporate and other primarily consisted of revenue from restaurant and marina businesses. (c) Represents amounts before reclassification to conform with an insurance company’s presentation. The following table presents segment assets reconciled to the Company’s total assets in the consolidated balance sheets. September 30, December 31, 2019 2018 Segment: Insurance Operations $ 702,651 $ 615,983 Real Estate Operations 93,279 83,828 Corporate and Other 65,956 146,651 Consolidation and Elimination (18,387 ) (13,599 ) Total assets $ 843,499 $ 832,863

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	Note 13 -- Leases At September 30, 2019, the Company had operating leases’ ROU assets and corresponding liabilities of $557 and $590, respectively. In addition, the Company had finance leases with ROU assets of $79 and corresponding lease liabilities of $64 at September 30, 2019. The following table summarizes the Company’s operating and finance leases in which the Company is a lessee: Renewal Other Terms and Class of Assets Initial Term Option Conditions Operating lease: Office equipment 1 to 63 months Yes (a), (b) Storage units 2 years Yes (b) Office space 3 to 10 years Yes (b), (c) Finance lease: Office equipment 3 to 5 years Not applicable (d) (a) At the end of the lease term, the Company can purchase the equipment at fair market value. (b) There are no variable lease payments. (c) Rent escalation provisions exist. (d) There is a bargain purchase option. As of September 30, 2019, maturities of lease liabilities were as follows: Leases Operating Finance Due in 12 months following September 30, 2019 $ 330 $ 19 2020 248 19 2021 54 18 2022 — 13 Total lease payments 632 69 Less: interest and foreign taxes 42 5 Total lease obligations $ 590 $ 64 The following table provides quantitative information with regard to the Company’s operating and finance leases. Three Months Ended Nine Months Ended September 30, 2019 September 30, 2019 Lease costs: Finance lease costs: Amortization – ROU assets* $ 4 $ 10 Interest expense 1 2 Operating lease costs* 90 244 Short-term lease costs* 37 141 Total lease costs $ 132 $ 397 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows – finance leases $ 1 $ 2 Operating cash flows – operating leases $ 80 $ 239 Financing cash flows – finance leases $ 4 $ 9 September 30, 2019 Weighted-average remaining lease term: Finance leases (in years) 3.8 Operating leases (in years) 1.9 Weighted-average discount rate: Finance leases 3.7 % Operating leases 4.0 % * Included in other operating expenses of the consolidated statement of income. The following table summarizes the Company’s operating leases in which the Company is a lessor: Renewal Other Terms and Class of Assets Initial Term Option Conditions Operating lease: Office space 1 to 3 years Yes (e) Retail space 3 to 20 years Yes (e) Boat docks/wet slips 1 to 12 months Yes (e) (e) There are no purchase options.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Note 14 -- Income Taxes During the three months ended September 30, 2019 and 2018, the Company recorded approximately $1,866 and $2,926 respectively, of income taxes, which resulted in effective tax rates of 24.2% and 24.5%, respectively. During the nine months ended September 30, 2019 and 2018, the Company recorded approximately $7,173 and $12,056, respectively, of income taxes, which resulted in effective tax rates of 26.3% and 31.5%, respectively. The decrease in the effective tax rate in 2019 as compared with the corresponding period in the prior year was primarily attributable to the derecognition of deferred tax assets of $1,620 for restricted stock awards with market-based vesting conditions that would not vest and the disallowance of the deductibility of the $1,727 expense representing dividends cumulatively paid on such restricted stock awards, both of which occurred in the second quarter of 2018 (see Restricted Stock Awards in Note 17 -- “Stock-Based Compensation”). Furthermore, in September 2019, the Florida corporate income tax rate was reduced from 5.5% to 4.458%, which was effective retroactively to January 1, 2019. The Company’s estimated annual effective tax rate differs from the statutory federal tax rate due to state and foreign income taxes as well as certain nondeductible and tax-exempt items.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Earnings Per Share	Note 15 -- Earnings Per Share U.S. GAAP requires the Company to use the two-class method in computing basic earnings per share since holders of the Company’s restricted stock have the right to share in dividends, if declared, equally with common stockholders. These participating securities affect the computation of both basic and diluted earnings per share during periods of net income or loss. A summary of the numerator and denominator of the basic and diluted earnings per common share is presented below. Three Months Ended Three Months Ended September 30, 2019 September 30, 2018 Income Shares Per Share Income Shares Per Share (Numerator) (Denominator) Amount (Numerator) (Denominator) Amount Net income $ 5,853 $ 8,997 Less: Income attributable to participating securities (325 ) (591 ) Basic Earnings Per Share: Income allocated to common stockholders 5,528 7,531 $ 0.73 8,406 7,791 $ 1.08 Effect of Dilutive Securities: Stock options — 8 — 17 Convertible senior notes* — — 3,188 3,808 Diluted Earnings Per Share: Income available to common stockholders and assumed conversions $ 5,528 7,539 $ 0.73 $ 11,594 11,616 $ 1.00 Nine Months Ended Nine Months Ended September 30, 2019 September 30, 2018 Income Shares Per Share Income Shares Per Share (Numerator) (Denominator) Amount (Numerator) (Denominator) Amount Net income $ 20,144 $ 26,191 Less: Income attributable to participating securities** (1,114 ) (92 ) Basic Earnings Per Share: Income allocated to common stockholders 19,030 7,644 $ 2.49 26,099 7,931 $ 3.29 Effect of Dilutive Securities: Stock options — 14 — 17 Convertible senior notes 6,828 2,745 9,481 3,803 Diluted Earnings Per Share: Income available to common stockholders and assumed conversions $ 25,858 10,403 $ 2.49 $ 35,580 11,751 $ 3.03 * Convertible senior notes for the three months ended September 30, 2019 were excluded due to anti-dilutive effect. * * Income attributable to participating securities for the nine months ended September 30, 2018 included the reclassification of cumulative dividends paid on certain restricted stock with market-based vesting conditions from retained income to expense. See Restricted Stock Awards

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Stockholders' Equity	Note 16 -- Stockholders’ Equity Common Stock In December 2018, the Company’s Board of Directors authorized a plan to repurchase up to $20,000 of the Company’s common shares before commissions and fees. During the three months ended September 30, 2019, the Company repurchased and retired a total of 175,160 shares at a weighted average price per share of $40.99 under this authorized repurchase plan. The total cost of shares repurchased, inclusive of fees and commissions, during the three months ended September 30, 2019 was $7,185 or $41.02 per share. During the nine months ended September 30, 2019, the Company repurchased and retired a total of 367,736 shares at a weighted average price per share of $41.28 under this authorized repurchase plan. The total cost of shares repurchased, inclusive of fees and commissions, during the nine months ended September 30, 2019 was $15,191, or $41.31 per share. In December 2017, the Company’s Board of Directors authorized a plan to repurchase up to $20,000 of the Company’s common shares before commissions and fees. During the three months ended September 30, 2018, the Company repurchased and retired a total of 148,768 shares at a weighted average price per share of $41.35 under this authorized repurchase plan. The total cost of shares repurchased, inclusive of fees and commissions, during the three months ended September 30, 2018 was $6,156, or $41.38 per share. During the nine months ended September 30, 2018, the Company repurchased and retired a total of 508,290 shares at a weighted average price per share of $39.06. The total cost of shares repurchased, inclusive of fees and commissions, during the nine months ended September 30, 2018 was $19,867, or $39.09 per share. On July 2, 2019, the Company’s Board of Directors declared a quarterly dividend of $0.40 per common share. The dividends were paid on September 20, 2019 to stockholders of record on August 6, 2019.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	Note 17 -- Stock-Based Compensation Incentive Plans The Company currently has outstanding stock-based awards granted under the 2007 Stock Option and Incentive Plan and the 2012 Omnibus Incentive Plan. Only the 2012 Plan is active and available for future grants. At September 30, 2019, there were 1,733,271 shares available for grant. Stock Options Stock options granted and outstanding under the incentive plans vest over periods ranging from immediately vested to five years and are exercisable over the contractual term of ten years. A summary of the stock option activity for the three and nine months ended September 30, 2019 and 2018 is as follows (option amounts not in thousands): Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Options Price Term Value Outstanding at January 1, 2019 240,000 $ 37.19 8.8 years $ 3,278 Granted 110,000 $ 53.00 Outstanding at March 31, 2019 350,000 $ 42.16 8.5 years $ 1,329 Exercised 10,000 $ 6.30 Outstanding at June 30, 2019 340,000 $ 43.21 8.4 years $ 445 Outstanding at September 30, 2019 340,000 $ 43.21 8.1 years $ 1,057 Exercisable at September 30, 2019 92,500 $ 36.36 7.0 years $ 627 Outstanding at January 1, 2018 130,000 $ 34.82 8.2 years $ 472 Granted 110,000 $ 40.00 Outstanding at March 31, 2018 240,000 $ 37.19 8.8 years $ 637 Outstanding at June 30, 2018 240,000 $ 37.19 8.6 years $ 749 Outstanding at September 30, 2018 240,000 $ 37.19 8.3 years $ 1,574 Exercisable at September 30, 2018 47,500 $ 25.81 6.0 years $ 852 There were 10,000 options exercised during the nine months ended September 30, 2019. During the three months ended September 30, 2019, the Company recognized a reduction in realized tax benefits of $3 resulting from the change in the Florida corporate income tax rate described in Note 14 -- “Income Taxes.” Tax benefits realized for the exercise of common stock options totaled $85 for the nine months ended September 30, 2019. For the three months ended September 30, 2019 and 2018, the Company recognized $222 and $138, respectively, of compensation expense which was included in general and administrative personnel expenses. For the nine months ended September 30, 2019 and 2018, the Company recognized $647 and $384, respectively, of compensation expense. Deferred tax benefits related to stock options were $18 and $20 for the three months ended September 30, 2019 and 2018, and $57 and $59 for the nine months ended September 30, 2019 and 2018, respectively. At September 30, 2019 and December 31, 2018, there was $2,057 and $1,359, respectively, of unrecognized compensation expense related to nonvested stock options. The Company expects to recognize the remaining compensation expense over a weighted-average period of 2.7 years. The following table provides assumptions used in the Black-Scholes option-pricing model to estimate the fair value of the stock options granted during the nine months ended September 30, 2019 and 2018: 2019 2018 Expected dividend yield 3.34 % 4.00 % Expected volatility 40.17 % 42.22 % Risk-free interest rate 2.53 % 2.57 % Expected life (in years) 5 5 Restricted Stock Awards From time to time, the Company has granted and may grant restricted stock awards to its executive officers, other employees and nonemployee directors in connection with their service to the Company. The terms of the Company’s outstanding restricted stock grants may include service, performance and market-based conditions. The fair value of the awards with market-based conditions is determined using a Monte Carlo simulation method, which calculates many potential outcomes for an award and then establishes fair value based on the most likely outcome. The determination of fair value with respect to the awards containing only performance or service-based conditions is based on the market value of the Company’s common stock on the grant date. Information with respect to the activity of unvested restricted stock awards during the three and nine months ended September 30, 2019 and 2018 is as follows: Number of Weighted Restricted Average Stock Grant Date Awards Fair Value Nonvested at January 1, 2019 632,296 $ 33.33 Granted 40,000 $ 47.94 Vested (21,250 ) $ 37.69 Forfeited (4,681 ) $ 42.79 Nonvested at March 31, 2019 646,365 $ 34.03 Granted 133,160 $ 41.30 Vested (84,914 ) $ 41.58 Forfeited (264,211 ) $ 23.81 Nonvested at June 30, 2019 430,400 $ 41.06 Granted 7,244 $ 41.76 Forfeited (2,351 ) $ 41.97 Nonvested at September 30, 2019 435,293 $ 41.07 Nonvested at January 1, 2018 597,690 $ 32.82 Granted 40,000 $ 34.92 Vested (28,643 ) $ 45.17 Forfeited (17,905 ) $ 38.55 Nonvested at March 31, 2018 591,142 $ 31.53 Granted 143,360 $ 43.83 Vested (59,974 ) $ 40.09 Forfeited (27,115 ) $ 32.76 Nonvested at June 30, 2018 647,413 $ 33.41 Granted 6,500 $ 39.80 Forfeited (7,432 ) $ 41.60 Nonvested at September 30, 2018 646,481 $ 33.38 The Company recognized compensation expense related to restricted stock, which is included in general and administrative personnel expenses, of $1,524 and $1,231 for the three months ended September 30, 2019 and 2018, respectively, and $4,047 and $2,890 for the nine months ended September 30, 2019 and 2018, respectively. At September 30, 2019 and December 31, 2018, there was approximately $14,392 and $11,199, respectively, of total unrecognized compensation expense related to nonvested restricted stock arrangements. The Company expects to recognize the remaining compensation expense over a weighted-average period of 2.7 years. The following table summarizes information about deferred tax benefits recognized and tax benefits realized related to restricted stock awards and paid dividends, and the fair value of vested restricted stock for the three and nine months ended September 30, 2019 and 2018. Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Deferred tax benefits recognized $ 282 $ 264 $ 772 $ 600 Tax benefits realized for restricted stock and paid dividends $ 1 $ 68 $ 986 $ 916 Fair value of vested restricted stock $ — $ — $ 4,331 $ 3,698 In May 2019, 260,000 shares of the Company’s restricted stock awards granted to employee and nonemployee directors were forfeited for not meeting their market-based vesting conditions. For the same reason, the Company expects another 24,000 shares of restricted stock awards with similar vesting conditions to be forfeited in November 2019. Any dividend payment associated with these awards was expensed when declared. As a result, for the three months ended September 30, 2019, the Company recognized dividends of $10 related to these awards in other operating expenses. For the nine months ended September 30, 2019, the Company recognized dividends of $237 in general and administrative personnel expenses for $170 and in other operating expenses for $67. In May 2018, the Company reclassified from retained income dividends of $1,727 cumulatively paid on these unvested restricted stock awards to general and administrative personnel expenses for $1,346 and to other operating expenses for $381. Therefore, for the three months ended September 30, 2018, the Company recognized dividends of $98 in general and administrative personnel expenses for $80 and in other operating expenses for $18. For the nine months ended September 30, 2018, dividends totaling $1,825 was recognized in general and administrative personnel expenses for $1,426 and in other operating expenses for $399.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 18 -- Commitments and Contingencies Obligations under Multi-Year Reinsurance Contract As of September 30, 2019, the Company has a contractual obligation related to one multi-year reinsurance contract. This contract may be cancelled only with the other party’s consent. The future minimum aggregate premium amounts payable to the reinsurer is $2,967 due in 12 months following September 30, 2019. Reinsurance premiums payable after December 31, 2019 are estimated and subject to subsequent revision as the premiums are determined on a quarterly basis based on the premiums associated with the applicable flood total insured value on the last day of the preceding quarter. Capital Commitment As described in Note 4 -- “Investments” under Limited Partnership Investments

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Note 19 -- Subsequent Events On October 17, 2019, the Company’s Board of Directors declared a quarterly dividend of $0.40 per common share. The dividends are payable on December 20, 2019 to stockholders of record on November 15, 2019. On October 22, 2019, Homeowners Choice Property & Casualty Insurance Company, Inc., the Company’s wholly owned insurance subsidiary, was approved by the Florida Office of Insurance Regulation to assume approximately 2,700 policies from Citizens Property Insurance Corporation, a Florida state-supported insurer. Annualized gross written premiums from this assumption approximate $7,300.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited, consolidated financial statements for HCI Group, Inc. and its majority-owned and controlled subsidiaries (collectively, the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information, and the Securities and Exchange Commission (“SEC”) rules for interim financial reporting. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to such rules and regulations. However, in the opinion of management, the accompanying consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the Company’s financial position as of September 30, 2019 and the results of operations and cash flows for the periods presented. The results of operations for the interim periods presented are not necessarily indicative of the results of operations to be expected for any subsequent interim period or for the fiscal year ending December 31, 2019. The accompanying unaudited consolidated financial statements and notes thereto should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2018 included in the Company’s Form 10-K, which was filed with the SEC on March 8, 2019. In preparing the interim unaudited consolidated financial statements, management was required to make certain judgments, assumptions, and estimates that affect the reported amounts of assets, liabilities, revenues, expenses and related disclosures at the financial reporting date and throughout the periods being reported upon. Certain of the estimates result from judgments that can be subjective and complex and consequently actual results may differ from these estimates. Material estimates that are particularly susceptible to significant change in the near term are related to the Company’s losses and loss adjustment expenses, which include amounts estimated for claims incurred but not yet reported. The Company uses various assumptions and actuarial data it believes to be reasonable under the circumstances to make these estimates. In addition, accounting policies specific to reinsurance with retrospective provisions, reinsurance recoverable, deferred income taxes, and stock-based compensation expense involve significant judgments and estimates material to the Company’s consolidated financial statements. All significant intercompany balances and transactions have been eliminated.
Adoption of New Accounting Standards	Adoption of New Accounting Standards In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2016-02 (“ASU 2016-02”), Leases (Topic 842). The guidance establishes new principles that lessees and lessors will apply to report useful information to users of financial statements about the amount, timing, and uncertainty of cash flows arising from a lease. ASU 2016-02 is effective for the Company January 1, 2019 and supersedes accounting for leases prescribed in Topic 840, Leases. ASU 2016-02 leaves lessor accounting substantially unchanged. The key change affecting the Company is the requirement that operating leases be recorded on the balance sheet. Topic 842 was subsequently amended by ASU No. 2018-01, Land Easement Practical Expedient for Transition to Topic 842; ASU No. 2018-10, Codification Improvements to Topic 842, Leases; ASU No. 2018-11, Targeted Improvements; ASU No. 2018-20, Narrow-Scope Improvements for Lessors; and ASU No. 2019-01, Codification Improvements to Topic 842. The new standard establishes a right-of-use (“ROU”) model that requires a lessee to recognize a ROU asset and lease liability on the balance sheet for all leases with a term longer than 12 months. Leases will be classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the income statement. The Company was initially required to use a modified retrospective method and apply this standard at the beginning of the earliest comparative period presented in the financial statements. Subsequently, the FASB permitted the application of this standard at the beginning of the adoption period as an alternative. Effective January 1, 2019, the Company adopted the new standard using the effective date as its date of initial application. As a result, financial information is not updated and the disclosures required under the new standard are not provided for dates and periods prior to January 1, 2019. The Company elected a package of practical expedients, which permits the Company to not reassess under the new standard its prior conclusions about lease identification, lease classification, and initial direct costs. Upon adoption, the Company, as a lessee, recognized ROU assets of approximately $771 and lease liabilities of approximately $812 for all operating leases except for those that have a lease term of 12 months or less.
Leases	Leases The Company leases office equipment, storage units, and office space from non-affiliates under terms ranging from one month up to ten years. In assessing whether a contract is or contains a lease, the Company first determines whether there is an identified asset in the contract. The Company then determines whether the contract conveys the right to obtain substantially all of the economic benefits from use of the identified asset or the right to direct the use of the identified asset. The Company elects not to record any lease with a term of 12 months or less on the consolidated balance sheet. For such short-term leases, the Company recognizes the lease payments in expense on a straight-line basis over the lease term. If the contract is or contains a lease and the Company has the right to control the use of the identified asset, the ROU asset and the lease liability is measured from the lease component of the contract and recognized on the consolidated balance sheet. In measuring the lease liability, the Company uses its incremental borrowing rate for a loan secured by a similar asset that has a term similar to the lease term to discount the lease payments. The contract is further evaluated to determine the classification of the lease as to whether it is finance or operating. If the lease is a finance lease, the ROU asset is depreciated to depreciation expense over the shorter of the useful life of the asset or the lease term. Interest expense is recorded in connection with the lease liability using the effective interest method. If the lease is an operating lease, the ROU asset is amortized to lease expense on a straight-line basis over the lease term. For the presentation of finance leases on the Company’s consolidated balance sheet, ROU assets and corresponding lease liabilities are included with property and equipment, net, and long-term debt, respectively. For the presentation of operating leases on the Company’s consolidated balance sheet, ROU assets and corresponding lease liabilities are included with other assets and other liabilities, respectively. The Company as a lessor leases its commercial and retail properties, boat slips, and docks to non-affiliates at various terms. If the contract gives the Company’s customer the right to control the use of the identified asset, revenue is recognized on a straight-line basis over the lease term. Initial direct costs incurred by the Company are deferred and amortized on a straight-line basis over the lease term. The Company also records an unbilled receivable, which is the amount by which straight-line revenue exceeds the amount billed in accordance with the lease.
Reclassifications	Reclassification Certain reclassifications of prior year amounts have been made to conform to the current year presentation.

Cash, Cash Equivalent, and Re_2

Cash, Cash Equivalent, and Restricted Cash (Tables)	9 Months Ended
	Sep. 30, 2019
Cash And Cash Equivalents [Abstract]
Schedule Of Reconciliation Of Cash Cash Equivalents And Restricted Cash [Table Text Block]	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company’s consolidated balance sheets that sum to the total of the same such amounts shown in the statements of cash flows. September 30, December 31, 2019 2018 Cash and cash equivalents $ 214,626 $ 239,458 Restricted cash 700 700 Total $ 215,326 $ 240,158

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2019
Summary of Amortized Cost, Gross Unrealized Gains and Losses, and Estimated Fair Value of Available-for-Sale Securities	The Company holds investments in fixed-maturity securities that are classified as available-for-sale. At September 30, 2019 and December 31, 2018, the cost or amortized cost, gross unrealized gains and losses, and estimated fair value of the Company’s available-for-sale securities by security type were as follows: Cost or Amortized Gross Unrealized Gross Unrealized Estimated Fair Cost Gain Loss Value As of September 30, 2019 U.S. Treasury and U.S. government agencies $ 26,399 $ 92 $ (7 ) $ 26,484 Corporate bonds 162,725 2,366 (322 ) 164,769 State, municipalities, and political subdivisions 9,995 166 — 10,161 Exchange-traded debt 8,746 472 (2 ) 9,216 Redeemable preferred stock 118 5 — 123 Total $ 207,983 $ 3,101 $ (331 ) $ 210,753 As of December 31, 2018 U.S. Treasury and U.S. government agencies $ 61,979 $ 24 $ (206 ) $ 61,797 Corporate bonds 103,580 134 (1,809 ) 101,905 State, municipalities, and political subdivisions 10,567 98 (3 ) 10,662 Exchange-traded debt 8,426 82 (261 ) 8,247 Redeemable preferred stock 118 — (6 ) 112 Total $ 184,670 $ 338 $ (2,285 ) $ 182,723
Scheduled Contractual Maturities of Fixed-Maturity Securities	The scheduled contractual maturities of fixed-maturity securities as of September 30, 2019 and December 31, 2018 are as follows: Amortized Estimated Cost Fair Value As of September 30, 2019 Due in one year or less $ 50,836 $ 51,056 Due after one year through five years 144,989 146,773 Due after five years through ten years 8,068 8,518 Due after ten years 4,090 4,406 $ 207,983 $ 210,753 Amortized Estimated Cost Fair Value As of December 31, 2018 Due in one year or less $ 50,659 $ 50,574 Due after one year through five years 117,826 116,498 Due after five years through ten years 11,602 11,253 Due after ten years 4,583 4,398 $ 184,670 $ 182,723
Summary of Proceeds Received and Gross Realized Gains and Losses from Sales of Available for Sale Securities	Proceeds received, and the gross realized gains and losses from sales of available-for-sale securities, for the three and nine months ended September 30, 2019 and 2018 were as follows: Gross Realized Gross Realized Proceeds Gains Losses Three months ended September 30, 2019 $ 2,240 $ 27 $ (1 ) Three months ended September 30, 2018 $ 771 $ 71 $ — Nine months ended September 30, 2019 $ 5,225 $ 61 $ (2 ) Nine months ended September 30, 2018 $ 78,540 $ 1,232 $ (500 )
Summary of Securities with Gross Unrealized Loss Positions Aggregated by Investment Category	Securities with gross unrealized loss positions at September 30, 2019 and December 31, 2018, aggregated by investment category and length of time the individual securities have been in a continuous loss position, are as follows: Less Than Twelve Months Twelve Months or Longer Total Gross Estimated Gross Estimated Gross Estimated Unrealized Fair Unrealized Fair Unrealized Fair As of September 30, 2019 Loss Value Loss Value Loss Value U.S. Treasury and U.S. government agencies $ (6 ) $ 3,394 $ (1 ) $ 699 $ (7 ) $ 4,093 Corporate bonds (1 ) 4,093 (321 ) 1,323 (322 ) 5,416 Exchange-traded debt (2 ) 286 — — (2 ) 286 Total $ (9 ) $ 7,773 $ (322 ) $ 2,022 $ (331 ) $ 9,795 At September 30, 2019, there were 11 securities in an unrealized loss position. Of these securities, five securities had been in an unrealized loss position for 12 months or longer. Less Than Twelve Months Twelve Months or Longer Total Gross Estimated Gross Estimated Gross Estimated Unrealized Fair Unrealized Fair Unrealized Fair As of December 31, 2018 Loss Value Loss Value Loss Value U.S. Treasury and U.S. government agencies $ (59 ) $ 21,031 $ (147 ) $ 35,393 $ (206 ) $ 56,424 Corporate bonds (542 ) 19,932 (1,267 ) 36,682 (1,809 ) 56,614 State, municipalities, and political subdivisions (3 ) 715 — — (3 ) 715 Exchange-traded debt (261 ) 5,275 — — (261 ) 5,275 Redeemable preferred stock (6 ) 112 — — (6 ) 112 Total $ (871 ) $ 47,065 $ (1,414 ) $ 72,075 $ (2,285 ) $ 119,140
Summary of Amortized Cost, Gross Unrealized Gains and Losses, and Estimated Fair Value Of Equity Securities	The Company holds investments in equity securities measured at fair values which are readily determinable. At September 30, 2019 and December 31, 2018, the cost, gross unrealized gains and losses, and estimated fair value of the Company’s equity securities were as follows: Gross Unrealized Gross Unrealized Estimated Fair Cost Gain Loss Value September 30, 2019 $ 29,710 $ 3,179 $ (446 ) $ 32,443 December 31, 2018 $ 45,671 $ 1,059 $ (5,587 ) $ 41,143
Summary of Unrealized Gains and Losses for Equity Securities	The table below presents the portion of unrealized gains and losses in the Company’s consolidated statement of income for the periods related to equity securities still held. Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Net gains recognized $ 586 $ 1,097 $ 6,616 $ 1,167 Exclude: Net realized (losses) gains recognized for securities sold (56 ) 1,487 (645 ) 5,714 Net unrealized gains (losses) recognized $ 642 $ (390 ) $ 7,261 $ (4,547 )
Summary of Proceeds Received, Gross Realized Gains and Losses from Sales of Equity Securities	Proceeds received, and the gross realized gains and losses from sales of equity securities, for the three and nine months ended September 30, 2019 and 2018 were as follows: Gross Realized Gross Realized Proceeds Gains Losses Three months ended September 30, 2019 $ 1,504 $ 43 $ (99 ) Three months ended September 30, 2018 $ 15,443 $ 1,926 $ (439 ) Nine months ended September 30, 2019 $ 34,345 $ 2,230 $ (2,875 ) Nine months ended September 30, 2018 $ 55,879 $ 6,897 $ (1,183 )
Schedule of Short Term Investments	Short-term investments consist of the following at September 30, 2019 and December 31, 2018. September 30, December 31, 2019 2018 Certificates of deposit $ — $ 56,519 Zero-coupon commercial paper 495 9,960 Total $ 495 $ 66,479
Schedule of Company's Investments in Limited Partnerships	. The following table provides information related to the Company’s investments in limited partnerships: September 30, 2019 December 31, 2018 Carrying Unfunded Carrying Unfunded Investment Strategy Value Balance (%)(a) Value Balance (%)(a) Primarily in senior secured loans and, to a limited extent, in other debt and equity securities of private U.S. lower-middle-market companies. (b)(c)(e) $ 10,311 $ 2,085 15.37 $ 10,169 $ 2,577 15.37 Value creation through active distressed debt investing primarily in bank loans, public and private corporate bonds, asset-backed securities, and equity securities received in connection with debt restructuring. (b)(d)(e) 6,497 — 1.76 9,219 — 1.76 High returns and long-term capital appreciation through investments in the power, utility and energy industries, and in the infrastructure sector. (b)(f)(g) 9,415 1,391 0.18 9,023 2,329 0.18 Value-oriented investments in less liquid and mispriced senior and junior debts of private equity-backed companies. (b)(h)(i) 1,418 3,300 0.47 1,156 3,706 0.47 Value-oriented investments in mature real estate private equity funds and portfolio globally. (b)(j) 3,049 7,629 2.24 2,726 7,692 3.28 Total $ 30,690 $ 14,405 $ 32,293 $ 16,304 (a) Represents the Company’s percentage investment in the fund at each balance sheet date. (b) Except under certain circumstances, withdrawals from the funds or any assignments are not permitted. Distributions, except income from late admission of a new limited partner, will be received when underlying investments of the funds are liquidated. (c) Expected to have a ten-year term, although the capital commitment period has expired, there are still follow-on investments and pending commitments that require additional fundings. (d) Expected to have a three-year term from June 30, 2018. Although the capital commitment period already ended, the general partner could still request an additional funding of approximately $843 under certain circumstances. (e) At the fund manager’s discretion, the term of the fund may be extended for up to two additional one-year periods. (f) Expected to have a ten-year term and the capital commitment is expected to expire on June 30, 2020. (g) With the consent of a supermajority of partners, the term of the fund may be extended for up to three additional one-year periods. (h) Expected to have a six-year term from the commencement date, which can be extended for up to two additional one-year periods with the consent of either the advisory committee or a majority of limited partners. (i) Unless extended or terminated for reasons specified in the agreement, the capital commitment is expected to expire on December 1, 2019. (j) Expected to have an eight-year term after the final fund closing date, which has yet to be determined.
Summary of Unaudited Financial Information and Unaudited Financial Position	The following tables provide FMJV’s summarized unaudited financial results and the unaudited financial positions: Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Operating results: Total revenues and gain $ — $ — $ 2 $ 438 Total expenses (18 ) (12 ) (80 ) (83 ) Net (loss) income $ (18 ) $ (12 ) $ (78 ) $ 355 The Company’s share of net (loss) income* $ (17 ) $ (10 ) $ (71 ) $ 320 * Included in net investment income in the Company’s consolidated statements of income. September 30, December 31, 2019 2018 Balance Sheet: Property and equipment, net $ 750 $ 787 Cash 124 149 Other 4 5 Total assets $ 878 $ 941 Other liabilities $ 18 $ 3 Members’ capital 860 938 Total liabilities and members’ capital $ 878 $ 941 Investment in unconsolidated joint venture, at equity** $ 774 $ 845 * * Includes the 90% share of FMKT Mel JV’s operating results.
Summary of Real Estate Investment	Real estate investments consist of the following as of September 30, 2019 and December 31, 2018. September 30, December 31, 2019 2018 Land $ 32,473 $ 23,884 Land improvements 10,255 8,717 Buildings 19,207 19,201 Tenant and leasehold improvements 1,379 1,261 Other 5,112 5,266 Total, at cost 68,426 58,329 Less: accumulated depreciation and amortization (4,972 ) (3,839 ) Real estate investments $ 63,454 $ 54,490
Investment (Loss) Income Summarized	Net investment income (loss), by source, is summarized as follows: Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Available-for-sale fixed-maturity securities $ 1,637 $ 1,273 $ 4,794 $ 3,531 Equity securities 305 486 979 1,641 Investment expense (114 ) (137 ) (349 ) (447 ) Limited partnership investments 476 1,964 1,308 2,816 Real estate investments (28 ) 22 173 239 (Loss) income from unconsolidated joint venture (17 ) (10 ) (71 ) 320 Cash and cash equivalents 1,354 889 3,908 2,531 Short-term investments 8 567 383 1,040 Net investment income $ 3,621 $ 5,054 $ 11,125 $ 11,671
Limited Partnership [Member]
Summary of Unaudited Financial Information and Unaudited Financial Position	The following is the summary of aggregated unaudited financial information of limited partnerships included in the investment strategy table above, which in certain cases is presented on a three-month lag due to the unavailability of information at the Company’s respective balance sheet dates. In applying the equity method of accounting, the Company uses the most recently available financial information provided by the general partner of each of these partnerships. The financial statements of these limited partnerships are audited annually. Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Operating results: Total income $ (100,043 ) $ 959,721 $ 147,858 $ 1,168,751 Total expenses (27,212 ) (30,192 ) (108,385 ) (115,887 ) Net income $ (127,255 ) $ 929,529 $ 39,473 $ 1,052,864 September 30, December 31, 2019 2018 Balance Sheet: Total assets $ 6,690,633 $ 6,689,792 Total liabilities $ 466,985 $ 394,029

Comprehensive Income (Loss) (Ta

Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Schedule of Components of Other Comprehensive Income or Loss and Related Tax Effects Allocated to Each Component	The components of other comprehensive income or loss and the related tax effects allocated to each component were as follows: Three Months Ended Three Months Ended September 30, 2019 September 30, 2018 Income Tax Before Income Tax Net of Before Expense Net of Tax Expense Tax Tax (Benefit) Tax Unrealized gain arising during the period $ 447 $ 90 $ 357 $ 35 $ 9 $ 26 Call and repayment gains charged to investment income (2 ) — (2 ) (19 ) (5 ) (14 ) Reclassification adjustment for realized gains (26 ) (7 ) (19 ) (71 ) (17 ) (54 ) Total other comprehensive gain (loss) $ 419 $ 83 $ 336 $ (55 ) $ (13 ) $ (42 ) Nine Months Ended Nine Months Ended September 30, 2019 September 30, 2018 Income Tax Before Income Tax Net of Before Expense Net of Tax Expense Tax Tax (Benefit) Tax Unrealized gain (loss) arising during the period $ 4,777 $ 1,188 $ 3,589 $ (2,658 ) $ (673 ) $ (1,985 ) Other-than-temporary impairment loss — — — 80 20 60 Call and repayment gains charged to investment income (1 ) — (1 ) (15 ) (4 ) (11 ) Reclassification adjustment for realized gains (59 ) (15 ) (44 ) (732 ) (185 ) (547 ) Total other comprehensive gain (loss) $ 4,717 $ 1,173 $ 3,544 $ (3,325 ) $ (842 ) $ (2,483 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Components of Long-Term Debt and Methods Used in Estimating Fair Values	The following table summarizes components of the Company’s long-term debt and methods used in estimating their fair values: Maturity Date Valuation Methodology 3.875% Convertible senior notes 2019 Quoted price 4.25% Convertible senior notes 2037 Quoted price 3.95% Promissory note 2020 Discounted cash flow method/Level 3 inputs 4% Promissory note 2031 Discounted cash flow method/Level 3 inputs 3.75% Callable promissory note 2036 Discounted cash flow method/Level 3 inputs 4.55% Promissory note 2036 Discounted cash flow method/Level 3 inputs
Assets Measured at Estimated Fair Value on a Recurring Basis	The following table presents information about the Company’s financial assets measured at estimated fair value on a recurring basis. The table indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value as of September 30, 2019 and December 31, 2018: Fair Value Measurements Using (Level 1) (Level 2) (Level 3) Total As of September 30, 2019 Financial Assets: Cash and cash equivalents $ 214,626 $ — $ — $ 214,626 Restricted cash $ 700 $ — $ — $ 700 Short-term investments $ 495 $ — $ — $ 495 Fixed-maturity securities: U.S. Treasury and U.S. government agencies $ 25,483 $ 1,001 $ — $ 26,484 Corporate bonds 164,769 — — 164,769 State, municipalities, and political subdivisions — 10,161 — 10,161 Exchange-traded debt 9,216 — — 9,216 Redeemable preferred stock 123 — — 123 Total available-for-sale securities 199,591 11,162 — 210,753 Equity securities $ 32,443 $ — $ — $ 32,443 Fair Value Measurements Using (Level 1) (Level 2) (Level 3) Total As of December 31, 2018 Financial Assets: Cash and cash equivalents $ 239,458 $ — $ — $ 239,458 Restricted cash $ 700 $ — $ — $ 700 Short-term investments $ 66,479 $ — $ — $ 66,479 Fixed-maturity securities: U.S. Treasury and U.S. government agencies $ 60,297 $ 1,500 $ — $ 61,797 Corporate bonds 101,905 — — 101,905 State, municipalities, and political subdivisions — 10,662 — 10,662 Exchange-traded debt 8,247 — — 8,247 Redeemable preferred stock 112 — — 112 Total available-for-sale securities $ 170,561 $ 12,162 $ — $ 182,723 Equity securities $ 41,143 $ — $ — $ 41,143
Schedule of Fair Value Information for Financial Assets and Liabilities Carried on Balance Sheet	The following tables present fair value information for assets and liabilities that are carried on the balance sheet at amounts other than fair value as of September 30, 2019 and December 31, 2018: Carrying Fair Value Measurements Using Estimated Value (Level 1) (Level 2) (Level 3) Fair Value As of September 30, 2019 Financial Assets: Limited partnership investments $ 30,690 $ — $ — $ 30,690 $ 30,690 Financial Liabilities: Revolving credit facility $ 9,750 $ 9,750 $ — $ — $ 9,750 Long-term debt: 4.25% Convertible senior notes $ 133,058 $ — $ 142,852 $ — $ 142,852 3.95% Promissory note 8,927 — — 8,963 8,963 4% Promissory note 7,363 — — 7,632 7,632 3.75% Callable promissory note 7,919 — — 7,954 7,954 4.55% Promissory note 5,665 — — 5,962 5,962 Total long-term debt $ 162,932 $ — $ 142,852 $ 30,511 $ 173,363 Carrying Fair Value Measurements Using Estimated Value (Level 1) (Level 2) (Level 3) Fair Value As of December 31, 2018 Financial Assets: Limited partnership investments $ 32,293 $ — $ — $ 32,293 $ 32,293 Financial Liabilities: Long-term debt: 3.875% Convertible senior notes $ 89,181 $ — $ 89,824 $ — $ 89,824 4.25% Convertible senior notes 130,120 — 145,617 — 145,617 3.95% Promissory note 9,077 — — 9,128 9,128 4% Promissory note 7,732 — — 7,788 7,788 3.75% Callable promissory note 8,159 — — 8,001 8,001 4.55% Promissory note 5,826 — — 6,025 6,025 Total long-term debt $ 250,095 $ — $ 235,441 $ 30,942 $ 266,383

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2019
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Summary of Other Assets	The following table summarizes the Company’s other assets. September 30, December 31, 2019 2018 Benefits receivable related to retrospective reinsurance contract $ 6,960 $ 3,136 Prepaid expenses 2,411 2,069 Deposits 1,767 1,413 Lease acquisition costs, net 559 620 Right-of-use assets – operating leases 557 — Other 1,197 1,766 Total other assets $ 13,451 $ 9,004

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Summary of Long-term Debt	The following table summarizes the Company’s long-term debt. September 30, December 31, 2019 2018 3.875% Convertible senior notes, due March 15, 2019 $ — $ 89,990 4.25% Convertible senior notes, due March 1, 2037 143,750 143,750 3.95% Promissory note, due through February 17, 2020 8,943 9,125 4% Promissory note, due through February 1, 2031 7,475 7,857 3.75% Callable promissory note, due through September 1, 2036 8,040 8,290 4.55% Promissory note, due through August 1, 2036 5,761 5,928 Finance lease liabilities, due through August 15, 2023 64 55 Total principal amount 174,033 264,995 Less: unamortized discount and issuance costs (11,037 ) (14,845 ) Total long-term debt $ 162,996 $ 250,150
Summary of Future Maturities of Long-Term Debt	The following table summarizes future maturities of long-term debt as of September 30, 2019, which takes into consideration the assumption that the 4.25% Convertible Senior Notes are repurchased at the earliest call date. Due in 12 months following September 30, 2019 $ 10,064 2020 1,166 2021 144,963 2022 1,258 2023 1,297 Thereafter 15,285 Total $ 174,033
Schedule of Interest Expense Related to Long-Term Debt	Information with respect to interest expense related to long-term debt is as follows: Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Interest Expense: Contractual interest $ 1,835 $ 2,717 $ 6,229 $ 8,024 Non-cash expense (a) 1,018 1,888 3,807 5,556 Capitalized interest (b) (78 ) (53 ) (236 ) (53 ) $ 2,775 $ 4,552 $ 9,800 $ 13,527 (a) Includes amortization of debt discount and issuance costs. (b) Interest was capitalized for a construction project.

Reinsurance (Tables)

Reinsurance (Tables)	9 Months Ended
	Sep. 30, 2019
Insurance [Abstract]
Impact of the Reinsurance Treaties on Premiums Written and Earned	The impact of the reinsurance contracts on premiums written and earned is as follows: Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Premiums Written: Direct $ 97,331 $ 90,370 $ 298,384 $ 292,986 Assumed — (10 ) (2 ) (107 ) Gross written 97,331 90,360 298,382 292,879 Ceded (31,568 ) (31,986 ) (94,298 ) (97,190 ) Net premiums written $ 65,763 $ 58,374 $ 204,084 $ 195,689 Premiums Earned: Direct $ 86,002 $ 85,804 $ 251,916 $ 255,840 Assumed — 359 (2 ) 2,014 Gross earned 86,002 86,163 251,914 257,854 Ceded (31,568 ) (31,986 ) (94,298 ) (97,190 ) Net premiums earned $ 54,434 $ 54,177 $ 157,616 $ 160,664

Losses and Loss Adjustment Ex_2

Losses and Loss Adjustment Expenses (Tables)	9 Months Ended
	Sep. 30, 2019
Insurance [Abstract]
Liability for Unpaid Losses and Loss Adjustment Expenses	Activity in the liability for unpaid losses and loss adjustment expenses is summarized as follows: Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Net balance, beginning of period* $ 95,345 $ 89,389 $ 94,826 $ 97,818 Incurred, net of reinsurance, related to: Current period 25,177 21,250 70,914 61,657 Prior period 2,150 4,519 7,702 5,570 Total incurred, net of reinsurance 27,327 25,769 78,616 67,227 Paid, net of reinsurance, related to: Current period (15,111 ) (14,397 ) (32,819 ) (28,554 ) Prior period (12,763 ) (13,242 ) (45,825 ) (48,972 ) Total paid, net of reinsurance (27,874 ) (27,639 ) (78,644 ) (77,526 ) Net balance, end of period 94,798 87,519 94,798 87,519 Add: reinsurance recoverable 143,123 50,895 143,123 50,895 Gross balance, end of period $ 237,921 $ 138,414 $ 237,921 $ 138,414 *Net balance represents beginning-of-period liability for unpaid losses and loss adjustment expenses less beginning-of-period reinsurance recoverable for unpaid losses and loss adjustment expenses.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Summary of Segment Information Reconciled to Consolidated Statements of Income	The following tables present segment information reconciled to the Company’s consolidated statements of income. Intersegment transactions are not eliminated from segment results. However, intracompany transactions are eliminated in segment results below. Insurance Real Corporate/ Reclassification/ For Three Months Ended September 30, 2019 Operations Estate(a) Other(b) Elimination Consolidated Revenue: Net premiums earned $ 54,434 $ — $ — $ — $ 54,434 Net investment income 3,365 — 461 (205 ) 3,621 Net realized investment (losses) gains (33 ) — 3 — (30 ) Net unrealized investment gains 533 — 109 — 642 Policy fee income 811 — — — 811 Other 186 2,317 1,341 (3,343 ) 501 Total revenue 59,296 2,317 1,914 (3,548 ) 59,979 Expenses: Losses and loss adjustment expenses 27,327 — — — 27,327 Amortization of deferred policy acquisition costs 9,556 — — — 9,556 Interest expense 1 409 2,659 (162 ) 2,907 Depreciation and amortization 29 627 261 (530 ) 387 Other 7,978 1,292 5,669 (2,856 ) 12,083 Total expenses 44,891 2,328 8,589 (3,548 ) 52,260 Income (loss) before income taxes $ 14,405 $ (11 ) $ (6,675 ) $ — $ 7,719 Total revenue from non-affiliates(c) $ 59,296 $ 1,910 $ 1,466 (a) Other revenue under real estate primarily consisted of rental income from investment properties. (b) Other revenue under corporate and other primarily consisted of revenue from restaurant and marina businesses. (c) Represents amounts before reclassification to conform with an insurance company’s presentation. Insurance Real Corporate/ Reclassification/ For Three Months Ended September 30, 2018 Operations Estate(a) Other(b) Elimination Consolidated Revenue: Net premiums earned $ 54,177 $ — $ — $ — $ 54,177 Net investment income 2,777 — 2,377 (100 ) 5,054 Net realized investment gains 1,227 — 399 — 1,626 Net unrealized investment (losses) gains (478 ) — 88 — (390 ) Policy fee income 843 — — — 843 Other 80 2,318 1,214 (3,179 ) 433 Total revenue 58,626 2,318 4,078 (3,279 ) 61,743 Expenses: Losses and loss adjustment expenses 25,769 — — — 25,769 Amortization of deferred policy acquisition costs 8,996 — — — 8,996 Interest expense — 393 4,270 (111 ) 4,552 Depreciation and amortization 32 592 242 (540 ) 326 Other 6,187 1,166 5,452 (2,628 ) 10,177 Total expenses 40,984 2,151 9,964 (3,279 ) 49,820 Income (loss) before income taxes $ 17,642 $ 167 $ (5,886 ) $ — $ 11,923 Total revenue from non-affiliates(c) $ 58,626 $ 1,935 $ 3,806 (a) Other revenue under real estate primarily consisted of rental income from investment properties. (b) Other revenue under corporate and other primarily consisted of revenue from restaurant and marina businesses. (c) Represents amounts before reclassification to conform with an insurance company’s presentation. Insurance Real Corporate/ Reclassification/ For Nine Months Ended September 30, 2019 Operations Estate(a) Other(b) Elimination Consolidated Revenue: Net premiums earned $ 157,616 $ — $ — $ — $ 157,616 Net investment income 9,381 — 2,064 (320 ) 11,125 Net realized investment gains (losses) 33 — (568 ) — (535 ) Net unrealized investment gains 5,951 — 1,310 — 7,261 Policy fee income 2,406 — — — 2,406 Other 524 7,009 4,590 (10,753 ) 1,370 Total revenue 175,911 7,009 7,396 (11,073 ) 179,243 Expenses: Losses and loss adjustment expenses 78,616 — — — 78,616 Amortization of deferred policy acquisition costs 26,982 — — — 26,982 Interest expense 2 1,174 9,374 (422 ) 10,128 Depreciation and amortization 82 1,878 791 (1,586 ) 1,165 Other 22,842 3,866 17,392 (9,065 ) 35,035 Total expenses 128,524 6,918 27,557 (11,073 ) 151,926 Income (loss) before income taxes $ 47,387 $ 91 $ (20,161 ) $ — $ 27,317 Total revenue from non-affiliates(c) $ 175,911 $ 5,787 $ 6,088 (a) Other revenue under real estate primarily consisted of rental income from investment properties. (b) Other revenue under corporate and other primarily consisted of revenue from restaurant and marina businesses. (c) Represents amounts before reclassification to conform with an insurance company’s presentation. Insurance Real Corporate/ Reclassification/ For Nine Months Ended September 30, 2018 Operations Estate(a) Other(b) Elimination Consolidated Revenue: Net premiums earned $ 160,664 $ — $ — $ — $ 160,664 Net investment income 7,520 1 3,941 209 11,671 Net realized investment gains 4,982 — 1,538 — 6,520 Net unrealized investment losses (3,985 ) — (562 ) — (4,547 ) Net other-than-temporary impairment losses — — (80 ) — (80 ) Policy fee income 2,563 — — — 2,563 Other 452 6,965 3,948 (9,861 ) 1,504 Total revenue 172,196 6,966 8,785 (9,652 ) 178,295 Expenses: Losses and loss adjustment expenses 67,227 — — — 67,227 Amortization of deferred policy acquisition costs 26,506 — — — 26,506 Interest expense — 1,176 12,700 (349 ) 13,527 Depreciation and amortization 98 1,788 751 (1,638 ) 999 Other 20,135 3,202 16,117 (7,665 ) 31,789 Total expenses 113,966 6,166 29,568 (9,652 ) 140,048 Income (loss) before income taxes $ 58,230 $ 800 $ (20,783 ) $ — $ 38,247 Total revenue from non-affiliates(c) $ 172,196 $ 5,818 $ 7,945 (a) Other revenue under real estate primarily consisted of rental income from investment properties. (b) Other revenue under corporate and other primarily consisted of revenue from restaurant and marina businesses. (c) Represents amounts before reclassification to conform with an insurance company’s presentation.
Summary of Segment Assets Reconciled to Consolidated Balance Sheet	September 30, December 31, 2019 2018 Segment: Insurance Operations $ 702,651 $ 615,983 Real Estate Operations 93,279 83,828 Corporate and Other 65,956 146,651 Consolidation and Elimination (18,387 ) (13,599 ) Total assets $ 843,499 $ 832,863

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Disclosure Of Leases [Abstract]
Disclosure of operating and finance leases of lessee	The following table summarizes the Company’s operating and finance leases in which the Company is a lessee: Renewal Other Terms and Class of Assets Initial Term Option Conditions Operating lease: Office equipment 1 to 63 months Yes (a), (b) Storage units 2 years Yes (b) Office space 3 to 10 years Yes (b), (c) Finance lease: Office equipment 3 to 5 years Not applicable (d) (a) At the end of the lease term, the Company can purchase the equipment at fair market value. (b) There are no variable lease payments. (c) Rent escalation provisions exist. (d) There is a bargain purchase option.
Disclosure of lease liabilities maturities	As of September 30, 2019, maturities of lease liabilities were as follows: Leases Operating Finance Due in 12 months following September 30, 2019 $ 330 $ 19 2020 248 19 2021 54 18 2022 — 13 Total lease payments 632 69 Less: interest and foreign taxes 42 5 Total lease obligations $ 590 $ 64
Disclosure of quantitative information of operating and finance leases	The following table provides quantitative information with regard to the Company’s operating and finance leases. Three Months Ended Nine Months Ended September 30, 2019 September 30, 2019 Lease costs: Finance lease costs: Amortization – ROU assets* $ 4 $ 10 Interest expense 1 2 Operating lease costs* 90 244 Short-term lease costs* 37 141 Total lease costs $ 132 $ 397 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows – finance leases $ 1 $ 2 Operating cash flows – operating leases $ 80 $ 239 Financing cash flows – finance leases $ 4 $ 9 September 30, 2019 Weighted-average remaining lease term: Finance leases (in years) 3.8 Operating leases (in years) 1.9 Weighted-average discount rate: Finance leases 3.7 % Operating leases 4.0 % * Included in other operating expenses of the consolidated statement of income.
Disclosure of operating leases of lessor entity	The following table summarizes the Company’s operating leases in which the Company is a lessor: Renewal Other Terms and Class of Assets Initial Term Option Conditions Operating lease: Office space 1 to 3 years Yes (e) Retail space 3 to 20 years Yes (e) Boat docks/wet slips 1 to 12 months Yes (e) (e) There are no purchase options.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Summary of Numerator and Denominator of Basic and Diluted Earnings Per Common Share	A summary of the numerator and denominator of the basic and diluted earnings per common share is presented below. Three Months Ended Three Months Ended September 30, 2019 September 30, 2018 Income Shares Per Share Income Shares Per Share (Numerator) (Denominator) Amount (Numerator) (Denominator) Amount Net income $ 5,853 $ 8,997 Less: Income attributable to participating securities (325 ) (591 ) Basic Earnings Per Share: Income allocated to common stockholders 5,528 7,531 $ 0.73 8,406 7,791 $ 1.08 Effect of Dilutive Securities: Stock options — 8 — 17 Convertible senior notes* — — 3,188 3,808 Diluted Earnings Per Share: Income available to common stockholders and assumed conversions $ 5,528 7,539 $ 0.73 $ 11,594 11,616 $ 1.00 Nine Months Ended Nine Months Ended September 30, 2019 September 30, 2018 Income Shares Per Share Income Shares Per Share (Numerator) (Denominator) Amount (Numerator) (Denominator) Amount Net income $ 20,144 $ 26,191 Less: Income attributable to participating securities** (1,114 ) (92 ) Basic Earnings Per Share: Income allocated to common stockholders 19,030 7,644 $ 2.49 26,099 7,931 $ 3.29 Effect of Dilutive Securities: Stock options — 14 — 17 Convertible senior notes 6,828 2,745 9,481 3,803 Diluted Earnings Per Share: Income available to common stockholders and assumed conversions $ 25,858 10,403 $ 2.49 $ 35,580 11,751 $ 3.03 * Convertible senior notes for the three months ended September 30, 2019 were excluded due to anti-dilutive effect. * * Income attributable to participating securities for the nine months ended September 30, 2018 included the reclassification of cumulative dividends paid on certain restricted stock with market-based vesting conditions from retained income to expense. See Restricted Stock Awards

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Company's Stock Option Plan Activity	A summary of the stock option activity for the three and nine months ended September 30, 2019 and 2018 is as follows (option amounts not in thousands): Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Options Price Term Value Outstanding at January 1, 2019 240,000 $ 37.19 8.8 years $ 3,278 Granted 110,000 $ 53.00 Outstanding at March 31, 2019 350,000 $ 42.16 8.5 years $ 1,329 Exercised 10,000 $ 6.30 Outstanding at June 30, 2019 340,000 $ 43.21 8.4 years $ 445 Outstanding at September 30, 2019 340,000 $ 43.21 8.1 years $ 1,057 Exercisable at September 30, 2019 92,500 $ 36.36 7.0 years $ 627 Outstanding at January 1, 2018 130,000 $ 34.82 8.2 years $ 472 Granted 110,000 $ 40.00 Outstanding at March 31, 2018 240,000 $ 37.19 8.8 years $ 637 Outstanding at June 30, 2018 240,000 $ 37.19 8.6 years $ 749 Outstanding at September 30, 2018 240,000 $ 37.19 8.3 years $ 1,574 Exercisable at September 30, 2018 47,500 $ 25.81 6.0 years $ 852
Assumptions Used to Estimate the Fair Value of Stock Options Granted	2019 2018 Expected dividend yield 3.34 % 4.00 % Expected volatility 40.17 % 42.22 % Risk-free interest rate 2.53 % 2.57 % Expected life (in years) 5 5
Information with Respect to Unvested Restricted Stock Awards Stock Option and Incentive Plan	Information with respect to the activity of unvested restricted stock awards during the three and nine months ended September 30, 2019 and 2018 is as follows: Number of Weighted Restricted Average Stock Grant Date Awards Fair Value Nonvested at January 1, 2019 632,296 $ 33.33 Granted 40,000 $ 47.94 Vested (21,250 ) $ 37.69 Forfeited (4,681 ) $ 42.79 Nonvested at March 31, 2019 646,365 $ 34.03 Granted 133,160 $ 41.30 Vested (84,914 ) $ 41.58 Forfeited (264,211 ) $ 23.81 Nonvested at June 30, 2019 430,400 $ 41.06 Granted 7,244 $ 41.76 Forfeited (2,351 ) $ 41.97 Nonvested at September 30, 2019 435,293 $ 41.07 Nonvested at January 1, 2018 597,690 $ 32.82 Granted 40,000 $ 34.92 Vested (28,643 ) $ 45.17 Forfeited (17,905 ) $ 38.55 Nonvested at March 31, 2018 591,142 $ 31.53 Granted 143,360 $ 43.83 Vested (59,974 ) $ 40.09 Forfeited (27,115 ) $ 32.76 Nonvested at June 30, 2018 647,413 $ 33.41 Granted 6,500 $ 39.80 Forfeited (7,432 ) $ 41.60 Nonvested at September 30, 2018 646,481 $ 33.38
Information about Deferred Tax Benefits Recognized Related to Restricted Stock Awards, Paid Dividends and the Fair Value of Vested Restricted Stock	The following table summarizes information about deferred tax benefits recognized and tax benefits realized related to restricted stock awards and paid dividends, and the fair value of vested restricted stock for the three and nine months ended September 30, 2019 and 2018. Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Deferred tax benefits recognized $ 282 $ 264 $ 772 $ 600 Tax benefits realized for restricted stock and paid dividends $ 1 $ 68 $ 986 $ 916 Fair value of vested restricted stock $ — $ — $ 4,331 $ 3,698

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Jan. 01, 2019
Summary Of Significant Accounting Policies [Line Items]
Operating Lease, Right-of-Use Asset	$ 557
Operating Lease, Liability	$ 590
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Lease term	1 month
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Lease term	10 years
Accounting Standards Update 2016-02 [Member]
Summary Of Significant Accounting Policies [Line Items]
Operating Lease, Right-of-Use Asset		$ 771
Operating Lease, Liability		$ 812

Cash, Cash Equivalents, and Res

Cash, Cash Equivalents, and Restricted Cash - Summary of Cash, Cash Equivalents, and Restricted Cash (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	$ 214,626	$ 239,458
Restricted cash	700	700
Total	$ 215,326	$ 240,158	$ 249,783	$ 256,693

Investments - Summary of Amorti

Investments - Summary of Amortized Cost, Gross Unrealized Gains and Losses, and Estimated Fair Value of Available-for-Sale Securities (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Schedule of Available-for-sale Securities [Line Items]
Fixed-maturity securities, Cost or Amortized Cost	$ 207,983	$ 184,670
Fixed-maturity securities, Gross Unrealized Gain	3,101	338
Fixed-maturity securities, Gross Unrealized Loss	(331)	(2,285)
Fixed-maturity securities, Estimated Fair Value	210,753	182,723
Fixed-Maturity Securities [Member] | U.S. Treasury and U.S. Government Agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed-maturity securities, Cost or Amortized Cost	26,399	61,979
Fixed-maturity securities, Gross Unrealized Gain	92	24
Fixed-maturity securities, Gross Unrealized Loss	(7)	(206)
Fixed-maturity securities, Estimated Fair Value	26,484	61,797
Fixed-Maturity Securities [Member] | Corporate Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed-maturity securities, Cost or Amortized Cost	162,725	103,580
Fixed-maturity securities, Gross Unrealized Gain	2,366	134
Fixed-maturity securities, Gross Unrealized Loss	(322)	(1,809)
Fixed-maturity securities, Estimated Fair Value	164,769	101,905
Fixed-Maturity Securities [Member] | State, Municipalities, and Political Subdivisions [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed-maturity securities, Cost or Amortized Cost	9,995	10,567
Fixed-maturity securities, Gross Unrealized Gain	166	98
Fixed-maturity securities, Gross Unrealized Loss		(3)
Fixed-maturity securities, Estimated Fair Value	10,161	10,662
Fixed-Maturity Securities [Member] | Exchange-Traded Debt [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed-maturity securities, Cost or Amortized Cost	8,746	8,426
Fixed-maturity securities, Gross Unrealized Gain	472	82
Fixed-maturity securities, Gross Unrealized Loss	(2)	(261)
Fixed-maturity securities, Estimated Fair Value	9,216	8,247
Fixed-Maturity Securities [Member] | Redeemable Preferred Stock [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed-maturity securities, Cost or Amortized Cost	118	118
Fixed-maturity securities, Gross Unrealized Gain	5
Fixed-maturity securities, Gross Unrealized Loss		(6)
Fixed-maturity securities, Estimated Fair Value	$ 123	$ 112

Investments - Scheduled Contrac

Investments - Scheduled Contractual Maturities of Fixed-Maturity Securities (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Investments Debt And Equity Securities [Abstract]
Due in one year or less, Amortized Cost	$ 50,836	$ 50,659
Due after one year through five years, Amortized Cost	144,989	117,826
Due after five years through ten years, Amortized Cost	8,068	11,602
Due after ten years, Amortized Cost	4,090	4,583
Fixed-maturity securities, Cost or Amortized Cost	207,983	184,670
Due in one year or less, Fair Value	51,056	50,574
Due after one year through five years, Fair Value	146,773	116,498
Due after five years through ten years, Fair Value	8,518	11,253
Due after ten years, Fair Value	4,406	4,398
Fair Value Total	$ 210,753	$ 182,723

Investments - Scheduled Contr_2

Investments - Scheduled Contractual Maturities of Fixed Maturity (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Schedule of Available-for-sale Securities [Line Items]
Proceeds			$ 5,225	$ 78,540
Fixed-Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Proceeds	$ 2,240	$ 771	5,225	78,540
Gross Realized Gains	27	71	61	1,232
Gross Realized Losses	$ (1)	$ 0	$ (2)	$ (500)

Investments (Other-than-tempora

Investments (Other-than-temporary Impairment) - Additional Information (Detail) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)Security	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)Security	Sep. 30, 2018USD ($)	Dec. 31, 2018Security
Schedule of Investments [Line Items]
Net other-than-temporary impairment losses | $	$ 0	$ 0	$ 0	$ 80
Number of securities in an unrealized loss position | Security	11		11		82
Number of securities had been in an unrealized loss position for 12 months or longer | Security	5		5		35
Fixed-Maturity Securities [Member]
Schedule of Investments [Line Items]
Net other-than-temporary impairment losses | $				$ 80

Investments - Summary of Securi

Investments - Summary of Securities with Gross Unrealized Loss Positions Aggregated by Investment Category (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Loss, Less than Twelve Months	$ (9)	$ (871)
Estimated Fair Value, Less than Twelve Months	7,773	47,065
Gross Unrealized Loss, Twelve Months or Longer	(322)	(1,414)
Estimated Fair Value, Twelve Months or Longer	2,022	72,075
Gross Unrealized Loss, Total	(331)	(2,285)
Estimated Fair Value, Total	9,795	119,140
Fixed-Maturity Securities [Member] | U.S. Treasury and U.S. Government Agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Loss, Less than Twelve Months	(6)	(59)
Estimated Fair Value, Less than Twelve Months	3,394	21,031
Gross Unrealized Loss, Twelve Months or Longer	(1)	(147)
Estimated Fair Value, Twelve Months or Longer	699	35,393
Gross Unrealized Loss, Total	(7)	(206)
Estimated Fair Value, Total	4,093	56,424
Fixed-Maturity Securities [Member] | Corporate Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Loss, Less than Twelve Months	(1)	(542)
Estimated Fair Value, Less than Twelve Months	4,093	19,932
Gross Unrealized Loss, Twelve Months or Longer	(321)	(1,267)
Estimated Fair Value, Twelve Months or Longer	1,323	36,682
Gross Unrealized Loss, Total	(322)	(1,809)
Estimated Fair Value, Total	5,416	56,614
Fixed-Maturity Securities [Member] | State, Municipalities, and Political Subdivisions [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Loss, Less than Twelve Months		(3)
Estimated Fair Value, Less than Twelve Months		715
Gross Unrealized Loss, Twelve Months or Longer		0
Estimated Fair Value, Twelve Months or Longer		0
Gross Unrealized Loss, Total		(3)
Estimated Fair Value, Total		715
Fixed-Maturity Securities [Member] | Exchange-Traded Debt [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Loss, Less than Twelve Months	(2)	(261)
Estimated Fair Value, Less than Twelve Months	286	5,275
Gross Unrealized Loss, Twelve Months or Longer	0	0
Estimated Fair Value, Twelve Months or Longer	0	0
Gross Unrealized Loss, Total	(2)	(261)
Estimated Fair Value, Total	$ 286	5,275
Fixed-Maturity Securities [Member] | Redeemable Preferred Stock [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Loss, Less than Twelve Months		(6)
Estimated Fair Value, Less than Twelve Months		112
Gross Unrealized Loss, Twelve Months or Longer		0
Estimated Fair Value, Twelve Months or Longer		0
Gross Unrealized Loss, Total		(6)
Estimated Fair Value, Total		$ 112

Investments - Summary of Amor_2

Investments - Summary of Amortized Cost, Gross Unrealized Gains and Losses, and Estimated Fair Value of Equity Securities (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Investments Debt And Equity Securities [Abstract]
Cost	$ 29,710	$ 45,671
Gross Unrealized Gain	3,179	1,059
Gross Unrealized Loss	(446)	(5,587)
Estimated Fair Value	$ 32,443	$ 41,143

Investments - Summary of Unreal

Investments - Summary of Unrealized Gains and Losses in Consolidated Statement of Income (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Gain (Loss) on Securities [Line Items]
Net unrealized gains (losses) recognized	$ 642	$ (390)	$ 7,261	$ (4,547)
Equity Securities [Member]
Gain (Loss) on Securities [Line Items]
Net gains recognized	586	1,097	6,616	1,167
Exclude: Net realized (losses) gains recognized for securities sold	(56)	1,487	(645)	5,714
Net unrealized gains (losses) recognized	$ 642	$ (390)	$ 7,261	$ (4,547)

Investments - Summary of Procee

Investments - Summary of Proceeds Received and The Gross Realized Gains and Losses From Sales of Equity Securities (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Debt and Equity Securities, FV-NI [Line Items]
Proceeds			$ 34,345	$ 55,879
Equity Securities [Member]
Debt and Equity Securities, FV-NI [Line Items]
Proceeds	$ 1,504	$ 15,443	34,345	55,879
Gross Realized Gains	43	1,926	2,230	6,897
Gross Realized Losses	$ (99)	$ (439)	$ (2,875)	$ (1,183)

Investments - Schedule of Short

Investments - Schedule of Short Term Investments (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Short-term Investments	$ 495	$ 66,479
Certificates of Deposit [Member]
Short-term Investments		56,519
Commercial Paper [Member]
Short-term Investments	$ 495	$ 9,960

Investments - Schedule of Compa

Investments - Schedule of Company's Investments in Limited Partnerships (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Investment Securities [Line Items]
Carrying Value	$ 30,690	$ 32,293
Unfunded Balance	14,405	16,304
Private US Lower Middle Market Companies [Member]
Investment Securities [Line Items]
Carrying Value	10,311	10,169
Unfunded Balance	$ 2,085	$ 2,577
Percentage investment held by the entity	15.37%	15.37%
Bank Loans Public and Private Corporate Bonds Asset Backed Securities Equity and Debt Restructuring [Member]
Investment Securities [Line Items]
Carrying Value	$ 6,497	$ 9,219
Percentage investment held by the entity	1.76%	1.76%
Power Utility and Energy Industries and Infrastructure [Member]
Investment Securities [Line Items]
Carrying Value	$ 9,415	$ 9,023
Unfunded Balance	$ 1,391	$ 2,329
Percentage investment held by the entity	0.18%	0.18%
Senior and Junior Debts of Private Equity-Backed Companies [Member]
Investment Securities [Line Items]
Carrying Value	$ 1,418	$ 1,156
Unfunded Balance	$ 3,300	$ 3,706
Percentage investment held by the entity	0.47%	0.47%
Mature Real Estate Private Equity Funds And Portfolio Globally [Member]
Investment Securities [Line Items]
Carrying Value	$ 3,049	$ 2,726
Unfunded Balance	$ 7,629	$ 7,692
Percentage investment held by the entity	2.24%	3.28%

Investments - Schedule of Com_2

Investments - Schedule of Company's Investments in Limited Partnerships (Parenthetical) (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Schedule of Investments [Line Items]
Additional funding circumstances	$ 843
Private US Lower Middle Market Companies [Member]
Schedule of Investments [Line Items]
Expected term	10 years
Investment additional maturity term	2 years
Bank Loans Public and Private Corporate Bonds Asset Backed Securities Equity and Debt Restructuring [Member]
Schedule of Investments [Line Items]
Expected term	3 years
Investment additional maturity term	2 years
Power Utility and Energy Industries and Infrastructure [Member]
Schedule of Investments [Line Items]
Expected term	10 years
Investment additional maturity term	3 years
Expiration date of capital commitment	Jun. 30, 2020
Senior and Junior Debts of Private Equity-Backed Companies [Member]
Schedule of Investments [Line Items]
Expected term	6 years
Investment additional maturity term	2 years
Expiration date of capital commitment	Dec. 1, 2019
Mature Real Estate Private Equity Funds And Portfolio Globally [Member]
Schedule of Investments [Line Items]
Expected term	8 years

Investments - Summary of Unaudi

Investments - Summary of Unaudited Financial Information and Unaudited Financial Position of Limited Partnerships (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Variable Interest Entity [Line Items]
Total income	$ 59,979	$ 61,743	$ 179,243	$ 178,295
Limited Partnership [Member]
Variable Interest Entity [Line Items]
Total income	(100,043)	959,721	147,858	1,168,751
Total expenses	(27,212)	(30,192)	(108,385)	(115,887)
Net income	(127,255)	$ 929,529	39,473	$ 1,052,864
Balance Sheet:
Total assets	6,690,633		6,690,633		$ 6,689,792
Total liabilities	$ 466,985		$ 466,985		$ 394,029

Investments (Limited Partnershi

Investments (Limited Partnership Investments) - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Schedule of Investments [Line Items]
Recognized investment income (loss)	$ 476	$ 1,964	$ 1,308	$ 2,816
Return on investment			3,647	1,495
Maximum exposure loss relating to VIE	774		774		$ 845
Limited Partnership [Member]
Schedule of Investments [Line Items]
Cash distributions	724	1,156	4,810	1,879
Return on investment	31	886	3,647	1,495
Return of capital		$ 270		$ 384
Company's contributed capital to the partnership	30,253		30,253		28,354
Maximum exposure loss relating to VIE	$ 30,690		$ 30,690		$ 32,293

Investments (Investment in Unco

Investments (Investment in Unconsolidated Joint Venture) - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Schedule of Investments [Line Items]
Maximum exposure loss relating to VIE	$ 774		$ 774		$ 845
Earnings distribution				$ 68
Capital distribution				696
Undistributed gain (loss) after equity distribution	0		0		$ 0
FMKT Mel JV, LLC [Member]
Schedule of Investments [Line Items]
Cash distribution	$ 0	$ 0	$ 0	764
Earnings distribution				68
Capital distribution				$ 696

Investments - Summary of Unau_2

Investments - Summary of Unaudited Financial Information and Unaudited Financial Position of Joint Venture (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Operating results:
Total revenues and gain	$ 59,979	$ 61,743	$ 179,243	$ 178,295
The Company’s share of net (loss) income	(17)	(10)	(71)	320
Balance Sheet:
Other	13,451		13,451		$ 9,004
Total assets	843,499		843,499		832,863
Other liabilities	15,499		15,499		22,200
Total liabilities and stockholders’ equity	843,499		843,499		832,863
Investment in unconsolidated joint venture, at equity	774		774		845
Unconsolidated Joint Venture [Member]
Operating results:
Total revenues and gain			2	438
Total expenses	(18)	(12)	(80)	(83)
Net income	(18)	(12)	(78)	355
Balance Sheet:
Property and equipment, net	750		750		787
Cash	124		124		149
Other	4		4		5
Total assets	878		878		941
Other liabilities	18		18		3
Members’ capital	860		860		938
Total liabilities and stockholders’ equity	878		878		$ 941
Operating Expense [Member]
Operating results:
The Company’s share of net (loss) income	$ (17)	$ (10)	$ (71)	$ 320

Investments - Summary of Unau_3

Investments - Summary of Unaudited Financial Information and Unaudited Financial Position of Joint Venture (Parenthetical) (Detail)	9 Months Ended
	Sep. 30, 2019
Unconsolidated Joint Venture [Member]
Variable Interest Entity [Line Items]
Percentage of operating results	90.00%

Investments - Summary of Real E

Investments - Summary of Real Estate Investment (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Real Estate [Abstract]
Land	$ 32,473	$ 23,884
Land improvements	10,255	8,717
Buildings	19,207	19,201
Tenant and leasehold improvements	1,379	1,261
Other	5,112	5,266
Total, at cost	68,426	58,329
Less: accumulated depreciation and amortization	(4,972)	(3,839)
Real estate investments	$ 63,454	$ 54,490

Investments (Real Estate Invest

Investments (Real Estate Investments) - Additional Information (Detail) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Feb. 27, 2019USD ($)a	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)
Schedule of Investments [Line Items]
Area of land acquired | a	9
Purchase price of acquired land	$ 8,500
Depreciation and amortization expenses under real estate investments		$ 387	$ 326	$ 1,165	$ 999
Real Estate Investments [Member]
Schedule of Investments [Line Items]
Depreciation and amortization expenses under real estate investments		$ 379	$ 389	$ 1,133	$ 1,185

Investments - Investment (Loss)

Investments - Investment (Loss) Income Summarized (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Schedule of Available-for-sale Securities [Line Items]
Limited partnership investments	$ 476	$ 1,964	$ 1,308	$ 2,816
Real estate investments	(28)	22	173	239
(Loss) income from unconsolidated joint venture	(17)	(10)	(71)	320
Net investment income	3,621	5,054	11,125	11,671
Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Investment income	305	486	979	1,641
Limited Partnership Investment [Member]
Schedule of Available-for-sale Securities [Line Items]
Limited partnership investments	476	1,964	1,308	2,816
Cash and Cash Equivalents [Member]
Schedule of Available-for-sale Securities [Line Items]
Investment income	1,354	889	3,908	2,531
Short-term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Investment income	8	567	383	1,040
Investment Expense [Member]
Schedule of Available-for-sale Securities [Line Items]
Investment expense	(114)	(137)	(349)	(447)
Available-for-Sale Securities [Member] | Fixed-Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Investment income	$ 1,637	$ 1,273	$ 4,794	$ 3,531

Comprehensive Income (Loss) - S

Comprehensive Income (Loss) - Schedule of Components of Other Comprehensive Income or Loss and Related Tax Effects Allocated to Each Component (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Before Tax
Unrealized gain (loss) arising during the period, Before Tax	$ 447	$ 35	$ 4,777	$ (2,658)
Other-than-temporary impairment loss, Before Tax	0	0	0	80
Call and repayment (gains) losses charged to investment income, Before Tax	(2)	(19)	(1)	(15)
Reclassification adjustment for realized gains, Before Tax	(26)	(71)	(59)	(732)
Net change in unrealized gain (loss)	419	(55)	4,717	(3,325)
Income Tax Expense (Benefit)
Unrealized gain (loss) arising during the period, Income Tax Expense (Benefit)	90	9	1,188	(673)
Other-than-temporary impairment loss, Income Tax Expense (Benefit)				20
Call and repayment (gains) losses charged to investment income, Income Tax Expense (Benefit)		(5)		(4)
Reclassification adjustment for realized gains, Income Tax Expense (Benefit)	(7)	(17)	(15)	(185)
Total other comprehensive gain (loss), Income Tax Expense (Benefit)	83	(13)	1,173	(842)
Net of Tax
Unrealized gain (loss) arising during the period, Net of Tax	357	26	3,589	(1,985)
Other-than-temporary impairment loss, Net of Tax				60
Call and repayment (gains) losses charged to investment income, Net of Tax	(2)	(14)	(1)	(11)
Reclassification adjustment for realized gains, Net of Tax	(19)	(54)	(44)	(547)
Total other comprehensive income (loss), net of income taxes	$ 336	$ (42)	$ 3,544	$ (2,483)

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money Market Funds and Certificate Of Deposit Maturity Period	90 days
Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short Term Investements Maturity Period	91 days
Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short Term Investements Maturity Period	365 days

Fair Value Measurements - Compo

Fair Value Measurements - Components of Long-Term Debt and Methods Used in Estimating Fair Values (Detail)	9 Months Ended
	Sep. 30, 2019
3.875% Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	2019
Valuation Methodology	Quoted price
4.25% Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	2037
Valuation Methodology	Quoted price
3.95% Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	2020
Valuation Methodology	Discounted cash flow method/Level 3 inputs
4% Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	2031
Valuation Methodology	Discounted cash flow method/Level 3 inputs
3.75% Callable Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	2036
Valuation Methodology	Discounted cash flow method/Level 3 inputs
4.55% Promissory note [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	2036
Valuation Methodology	Discounted cash flow method/Level 3 inputs

Fair Value Measurements - Com_2

Fair Value Measurements - Components of Long-Term Debt and Methods Used in Estimating Fair Values (Parenthetical) (Detail)	Sep. 30, 2019	Mar. 15, 2019
3.875% Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	3.875%	3.875%
4.25% Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	4.25%
3.95% Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	3.95%
4% Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	4.00%
3.75% Callable Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	3.75%
4.55% Promissory note [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	4.55%

Fair Value Measurements - Avail

Fair Value Measurements - Available-for-Sale Securities Measured at Fair Value (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Financial Assets:
Restricted cash	$ 700	$ 700
Short-term investments	495	66,479
Total available-for-sale securities	210,753	182,723
Equity securities	32,443	41,143
Fair Value, Measurements, Recurring [Member]
Financial Assets:
Cash and cash equivalents	214,626	239,458
Restricted cash	700	700
Short-term investments	495	66,479
Total available-for-sale securities	210,753	182,723
Equity securities	32,443	41,143
Fair Value, Measurements, Recurring [Member] | (Level 1) [Member]
Financial Assets:
Cash and cash equivalents	214,626	239,458
Restricted cash	700	700
Short-term investments	495	66,479
Total available-for-sale securities	199,591	170,561
Equity securities	32,443	41,143
Fair Value, Measurements, Recurring [Member] | (Level 2) [Member]
Financial Assets:
Total available-for-sale securities	11,162	12,162
U.S. Treasury and U.S. Government Agencies [Member] | Fair Value, Measurements, Recurring [Member]
Financial Assets:
Total available-for-sale securities	26,484	61,797
U.S. Treasury and U.S. Government Agencies [Member] | Fair Value, Measurements, Recurring [Member] | (Level 1) [Member]
Financial Assets:
Total available-for-sale securities	25,483	60,297
U.S. Treasury and U.S. Government Agencies [Member] | Fair Value, Measurements, Recurring [Member] | (Level 2) [Member]
Financial Assets:
Total available-for-sale securities	1,001	1,500
Corporate Bonds [Member] | Fair Value, Measurements, Recurring [Member]
Financial Assets:
Total available-for-sale securities	164,769	101,905
Corporate Bonds [Member] | Fair Value, Measurements, Recurring [Member] | (Level 1) [Member]
Financial Assets:
Total available-for-sale securities	164,769	101,905
State, Municipalities, and Political Subdivisions [Member] | Fair Value, Measurements, Recurring [Member]
Financial Assets:
Total available-for-sale securities	10,161	10,662
State, Municipalities, and Political Subdivisions [Member] | Fair Value, Measurements, Recurring [Member] | (Level 2) [Member]
Financial Assets:
Total available-for-sale securities	10,161	10,662
Exchange-Traded Debt [Member] | Fair Value, Measurements, Recurring [Member]
Financial Assets:
Total available-for-sale securities	9,216	8,247
Exchange-Traded Debt [Member] | Fair Value, Measurements, Recurring [Member] | (Level 1) [Member]
Financial Assets:
Total available-for-sale securities	9,216	8,247
Redeemable Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member]
Financial Assets:
Total available-for-sale securities	123	112
Redeemable Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member] | (Level 1) [Member]
Financial Assets:
Total available-for-sale securities	$ 123	$ 112

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value Information for Financial Assets and Liabilities Carried on Balance Sheet (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Financial Assets:
Limited partnership investments	$ 30,690	$ 32,293
Carrying Value [Member]
Financial Assets:
Limited partnership investments	30,690	32,293
Financial Liabilities:
Revolving credit facility	9,750
Total long-term debt	162,932	250,095
Carrying Value [Member] | 3.875% Convertible Senior Notes [Member]
Financial Liabilities:
Total long-term debt		89,181
Carrying Value [Member] | 4.25% Convertible Senior Notes [Member]
Financial Liabilities:
Total long-term debt	133,058	130,120
Carrying Value [Member] | 3.95% Promissory Note [Member]
Financial Liabilities:
Total long-term debt	8,927	9,077
Carrying Value [Member] | 4% Promissory Note [Member]
Financial Liabilities:
Total long-term debt	7,363	7,732
Carrying Value [Member] | 3.75% Callable Promissory Note
Financial Liabilities:
Total long-term debt	7,919	8,159
Carrying Value [Member] | 4.55% Promissory note [Member]
Financial Liabilities:
Total long-term debt	5,665	5,826
Estimate of Fair Value Measurement [Member]
Financial Assets:
Limited partnership investments	30,690	32,293
Financial Liabilities:
Revolving credit facility	9,750
Total long-term debt	173,363	266,383
Estimate of Fair Value Measurement [Member] | (Level 1) [Member]
Financial Liabilities:
Revolving credit facility	9,750
Estimate of Fair Value Measurement [Member] | (Level 2) [Member]
Financial Liabilities:
Total long-term debt	142,852	235,441
Estimate of Fair Value Measurement [Member] | (Level 3) [Member]
Financial Assets:
Limited partnership investments	30,690	32,293
Financial Liabilities:
Total long-term debt	30,511	30,942
Estimate of Fair Value Measurement [Member] | 3.875% Convertible Senior Notes [Member]
Financial Liabilities:
Total long-term debt		89,824
Estimate of Fair Value Measurement [Member] | 3.875% Convertible Senior Notes [Member] | (Level 2) [Member]
Financial Liabilities:
Total long-term debt		89,824
Estimate of Fair Value Measurement [Member] | 4.25% Convertible Senior Notes [Member]
Financial Liabilities:
Total long-term debt	142,852	145,617
Estimate of Fair Value Measurement [Member] | 4.25% Convertible Senior Notes [Member] | (Level 2) [Member]
Financial Liabilities:
Total long-term debt	142,852	145,617
Estimate of Fair Value Measurement [Member] | 3.95% Promissory Note [Member]
Financial Liabilities:
Total long-term debt	8,963	9,128
Estimate of Fair Value Measurement [Member] | 3.95% Promissory Note [Member] | (Level 3) [Member]
Financial Liabilities:
Total long-term debt	8,963	9,128
Estimate of Fair Value Measurement [Member] | 4% Promissory Note [Member]
Financial Liabilities:
Total long-term debt	7,632	7,788
Estimate of Fair Value Measurement [Member] | 4% Promissory Note [Member] | (Level 3) [Member]
Financial Liabilities:
Total long-term debt	7,632	7,788
Estimate of Fair Value Measurement [Member] | 3.75% Callable Promissory Note
Financial Liabilities:
Total long-term debt	7,954	8,001
Estimate of Fair Value Measurement [Member] | 3.75% Callable Promissory Note | (Level 3) [Member]
Financial Liabilities:
Total long-term debt	7,954	8,001
Estimate of Fair Value Measurement [Member] | 4.55% Promissory note [Member]
Financial Liabilities:
Total long-term debt	5,962	6,025
Estimate of Fair Value Measurement [Member] | 4.55% Promissory note [Member] | (Level 3) [Member]
Financial Liabilities:
Total long-term debt	$ 5,962	$ 6,025

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Fair Value Information for Financial Assets and Liabilities Carried on Balance Sheet (Parenthetical) (Detail)	Sep. 30, 2019	Mar. 15, 2019	Dec. 31, 2018
3.875% Convertible Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	3.875%	3.875%
4.25% Convertible Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	4.25%
4% Promissory Note [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	4.00%
4.55% Promissory note [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	4.55%
Estimate of Fair Value Measurement [Member] | 3.875% Convertible Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate			3.875%
Estimate of Fair Value Measurement [Member] | 4.25% Convertible Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	4.25%		4.25%
Estimate of Fair Value Measurement [Member] | 3.95% Promissory Note [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	3.95%		3.95%
Estimate of Fair Value Measurement [Member] | 4% Promissory Note [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	4.00%		4.00%
Estimate of Fair Value Measurement [Member] | 3.75% Callable Promissory Note
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	3.75%		3.75%
Estimate of Fair Value Measurement [Member] | 4.55% Promissory note [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	4.55%		4.55%
Carrying Value [Member] | 3.875% Convertible Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate			3.875%
Carrying Value [Member] | 4.25% Convertible Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	4.25%		4.25%
Carrying Value [Member] | 3.95% Promissory Note [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	3.95%		3.95%
Carrying Value [Member] | 4% Promissory Note [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	4.00%		4.00%
Carrying Value [Member] | 3.75% Callable Promissory Note
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	3.75%		3.75%
Carrying Value [Member] | 4.55% Promissory note [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	4.55%		4.55%

Other Assets - Summary of Other

Other Assets - Summary of Other Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Benefits receivable related to retrospective reinsurance contract	$ 6,960	$ 3,136
Prepaid expenses	2,411	2,069
Deposits	1,767	1,413
Lease acquisition costs, net	559	620
Right-of-use assets – operating leases	557
Other	1,197	1,766
Total other assets	$ 13,451	$ 9,004

Revolving Credit Facility - Add

Revolving Credit Facility - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Feb. 28, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Line of Credit Facility [Line Items]
Interest expense for revolving credit facility		$ 2,907	$ 4,552	$ 10,128	$ 13,527
Long-term Line of Credit		9,750		9,750
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Additional borrowings from revolving credit facility	$ 8,000			1,750
Interest expense for revolving credit facility		132		328
Amortization of Debt Issuance Costs		39		118
Long-term Line of Credit		$ 9,750		$ 9,750
Debt issuance costs capitalized in other assets	$ 459

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total principal amount	$ 174,033	$ 264,995
Finance lease liabilities	64	55
Less: unamortized discount and issuance costs	(11,037)	(14,845)
Total long-term debt	162,996	250,150
3.875% Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Total principal amount		89,990
4.25% Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Total principal amount	143,750	143,750
3.95% Promissory Note [Member]
Debt Instrument [Line Items]
Total principal amount	8,943	9,125
4% Promissory Note [Member]
Debt Instrument [Line Items]
Total principal amount	7,475	7,857
3.75% Callable Promissory Note [Member]
Debt Instrument [Line Items]
Total principal amount	8,040	8,290
4.55% Promissory note [Member]
Debt Instrument [Line Items]
Total principal amount	$ 5,761	$ 5,928

Long-Term Debt - Summary of L_2

Long-Term Debt - Summary of Long-Term Debt (Parenthetical) (Detail)	9 Months Ended
	Sep. 30, 2019	Mar. 15, 2019
3.875% Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	3.875%	3.875%
Debt instrument, maturity date	Mar. 15, 2019
4.25% Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	4.25%
Debt instrument, maturity date	Mar. 1, 2037
3.95% Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	3.95%
Debt instrument, maturity date	Feb. 17, 2020
4% Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	4.00%
Debt instrument, maturity date	Feb. 1, 2031
3.75% Callable Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	3.75%
Debt instrument, maturity date	Sep. 1, 2036
4.55% Promissory note [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	4.55%
Debt instrument, maturity date	Aug. 1, 2036
Finance lease liabilities [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Aug. 15, 2023

Long-Term Debt - Summary of Fut

Long-Term Debt - Summary of Future Maturities of Long-Term Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Long Term Debt Rolling Maturity [Abstract]
Due in 12 months following September 30, 2019	$ 10,064
2020	1,166
2021	144,963
2022	1,258
2023	1,297
Thereafter	15,285
Total	$ 174,033	$ 264,995

Long-Term Debt - Schedule of In

Long-Term Debt - Schedule of Interest Expense Related to Long-Term Debt (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Interest Expense Debt [Abstract]
Contractual interest	$ 1,835	$ 2,717	$ 6,229	$ 8,024
Non-cash expense	1,018	1,888	3,807	5,556
Capitalized interest	(78)	(53)	(236)	(53)
Total	$ 2,775	$ 4,552	$ 9,800	$ 13,527

Long-Term Debt (Convertible Sen

Long-Term Debt (Convertible Senior Notes) - Additional Information (Detail) $ / shares in Units, $ in Thousands	Mar. 15, 2019USD ($)$ / shares	Sep. 30, 2019$ / shares	Sep. 30, 2018$ / shares	Sep. 30, 2019USD ($)$ / shares	Sep. 30, 2018USD ($)$ / shares
Debt Instrument [Line Items]
Debt Instrument, Last Payment, Principal | $				$ 90,980	$ 804
Cash dividends on common stock		$ 0.40	$ 0.375	$ 1.20	$ 1.10
3.875% Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, stated interest rate	3.875%	3.875%		3.875%
Convertible debt, conversion ratio	16.4074
Convertible debt, conversion price	$ 60.95
Debt Instrument, Last Payment, Principal | $	$ 89,990
Debt Instrument, Last Payment, Interest | $	$ 1,744
4.25% Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, stated interest rate		4.25%		4.25%
Convertible debt, conversion ratio				16.3481
Convertible debt, conversion price		$ 61.17		$ 61.17
Debt discount, remaining amortization period				2 years 5 months 1 day
4.25% Convertible Senior Notes [Member] | Minimum [Member]
Debt Instrument [Line Items]
Cash dividends on common stock				$ 0.35

Reinsurance - Impact of the Rei

Reinsurance - Impact of the Reinsurance Treaties on Premiums Written and Earned (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Premiums Written:
Direct	$ 97,331	$ 90,370	$ 298,384	$ 292,986
Assumed		(10)	(2)	(107)
Gross written	97,331	90,360	298,382	292,879
Ceded	(31,568)	(31,986)	(94,298)	(97,190)
Net premiums written	65,763	58,374	204,084	195,689
Premiums Earned:
Direct	86,002	85,804	251,916	255,840
Assumed		359	(2)	2,014
Gross earned	86,002	86,163	251,914	257,854
Ceded	(31,568)	(31,986)	(94,298)	(97,190)
Net premiums earned	$ 54,434	$ 54,177	$ 157,616	$ 160,664

Reinsurance - Additional Inform

Reinsurance - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)Reinsurer	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)Reinsurer	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)Reinsurer
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Reinsurance recoverable	$ 163,444,000		$ 163,444,000		$ 123,911,000
Number of reinsurers | Reinsurer	31		31		38
Percentage of reinsurance recoverable major reinsurers			40.40%
Number of major reinsurers | Reinsurer	4		4
Credit risk associated with reinsurance receivables	$ 0		$ 0		$ 0
Ceded losses recognized as a reduction in losses and LAE	113,888,000	$ 27,000	113,888,000	$ 58,493,000
Net reduction in premiums ceded	2,520,000	600,000	4,258,000
Net increase in premiums ceded				115,000
Other assets	13,451,000		13,451,000		9,004,000
Oxbridge [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Net increase in premiums ceded		$ 0		$ 448,000
Reinsurance [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Other assets	$ 6,960,000		$ 6,960,000		$ 3,136,000

Losses and Loss Adjustment Ex_3

Losses and Loss Adjustment Expenses - Losses and LAE (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Liability For Unpaid Claims And Claims Adjustment Expense Net [Abstract]
Net balance, beginning of period*	$ 95,345	$ 89,389	$ 94,826	$ 97,818
Incurred, net of reinsurance, related to:
Current period	25,177	21,250	70,914	61,657
Prior period	2,150	4,519	7,702	5,570
Total incurred, net of reinsurance	27,327	25,769	78,616	67,227
Paid, net of reinsurance, related to:
Current period	(15,111)	(14,397)	(32,819)	(28,554)
Prior period	(12,763)	(13,242)	(45,825)	(48,972)
Total paid, net of reinsurance	(27,874)	(27,639)	(78,644)	(77,526)
Net balance, end of period	94,798	87,519	94,798	87,519
Unpaid losses and loss adjustment expenses	143,123	50,895	143,123	50,895	$ 112,760
Gross balance, end of period	$ 237,921	$ 138,414	$ 237,921	$ 138,414	$ 207,586

Losses and Loss Adjustment Ex_4

Losses and Loss Adjustment Expenses - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Reserves For Losses And Loss Adjustment Expenses [Line Items]
Unpaid claims and claim adjustment expenses overall development	$ 2,150		$ 4,519	$ 7,702	$ 5,570
Accidental Year 2018 and Prior [Member]
Reserves For Losses And Loss Adjustment Expenses [Line Items]
Unpaid claims and claim adjustment expenses overall development	2,150			7,702
Accident Year 2019 [Member]
Reserves For Losses And Loss Adjustment Expenses [Line Items]
Unpaid claims and claim adjustment expenses overall development				6,500
Accident Year 2019 [Member] | Hurricane Irma [Member]
Reserves For Losses And Loss Adjustment Expenses [Line Items]
Preliminary losses estimated	514,000	$ 411,000
Accident Year 2019 [Member] | Hurricane Michael [Member]
Reserves For Losses And Loss Adjustment Expenses [Line Items]
Preliminary losses estimated	$ 33,000	$ 22,250
Prior Periods [Member] | Hurricane Matthew [Member]
Reserves For Losses And Loss Adjustment Expenses [Line Items]
Unpaid claims and claim adjustment expenses overall development				$ 1,052

Segment Information - Additiona

Segment Information - Additional Information (Detail) - Segment	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Segment Reporting Information [Line Items]
Number of operating divisions			3
Sales Revenue, Net [Member] | Segment Concentration Risk [Member] | Insurance Operations [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	95.20%	95.30%	95.00%	95.30%
Assets [Member] | Segment Concentration Risk [Member] | Insurance Operations [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	86.20%		86.20%		85.50%

Segment Information - Summary o

Segment Information - Summary of Segment Information Reconciled to Consolidated Statements of Income (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue:
Net premiums earned	$ 54,434	$ 54,177	$ 157,616	$ 160,664
Net investment income	3,621	5,054	11,125	11,671
Net realized investment (losses) gains	(30)	1,626	(535)	6,520
Net unrealized investment (losses) gains	642	(390)	7,261	(4,547)
Net other-than-temporary impairment losses	0	0	0	(80)
Policy fee income	811	843	2,406	2,563
Other	501	433	1,370	1,504
Total revenue	59,979	61,743	179,243	178,295
Expenses:
Losses and loss adjustment expenses	27,327	25,769	78,616	67,227
Amortization of deferred policy acquisition costs	9,556	8,996	26,982	26,506
Interest expense	2,907	4,552	10,128	13,527
Depreciation and amortization	387	326	1,165	999
Other	12,083	10,177	35,035	31,789
Total expenses	52,260	49,820	151,926	140,048
Income before income taxes	7,719	11,923	27,317	38,247
Operating Segments [Member] | Insurance Operations [Member]
Revenue:
Net premiums earned	54,434	54,177	157,616	160,664
Net investment income	3,365	2,777	9,381	7,520
Net realized investment (losses) gains	(33)	1,227	33	4,982
Net unrealized investment (losses) gains	533	(478)	5,951	(3,985)
Policy fee income	811	843	2,406	2,563
Other	186	80	524	452
Total revenue	59,296	58,626	175,911	172,196
Expenses:
Losses and loss adjustment expenses	27,327	25,769	78,616	67,227
Amortization of deferred policy acquisition costs	9,556	8,996	26,982	26,506
Interest expense	1		2
Depreciation and amortization	29	32	82	98
Other	7,978	6,187	22,842	20,135
Total expenses	44,891	40,984	128,524	113,966
Income before income taxes	14,405	17,642	47,387	58,230
Total revenue from non-affiliates	59,296	58,626	175,911	172,196
Operating Segments [Member] | Real Estate Operations [Member]
Revenue:
Net investment income				1
Other	2,317	2,318	7,009	6,965
Total revenue	2,317	2,318	7,009	6,966
Expenses:
Interest expense	409	393	1,174	1,176
Depreciation and amortization	627	592	1,878	1,788
Other	1,292	1,166	3,866	3,202
Total expenses	2,328	2,151	6,918	6,166
Income before income taxes	(11)	167	91	800
Total revenue from non-affiliates	1,910	1,935	5,787	5,818
Operating Segments [Member] | Corporate and Other [Member]
Revenue:
Net investment income	461	2,377	2,064	3,941
Net realized investment (losses) gains	3	399	(568)	1,538
Net unrealized investment (losses) gains	109	88	1,310	(562)
Net other-than-temporary impairment losses				(80)
Other	1,341	1,214	4,590	3,948
Total revenue	1,914	4,078	7,396	8,785
Expenses:
Interest expense	2,659	4,270	9,374	12,700
Depreciation and amortization	261	242	791	751
Other	5,669	5,452	17,392	16,117
Total expenses	8,589	9,964	27,557	29,568
Income before income taxes	(6,675)	(5,886)	(20,161)	(20,783)
Total revenue from non-affiliates	1,466	3,806	6,088	7,945
Intersegment Eliminations [Member]
Revenue:
Net investment income	(205)	(100)	(320)	209
Other	(3,343)	(3,179)	(10,753)	(9,861)
Total revenue	(3,548)	(3,279)	(11,073)	(9,652)
Expenses:
Interest expense	(162)	(111)	(422)	(349)
Depreciation and amortization	(530)	(540)	(1,586)	(1,638)
Other	(2,856)	(2,628)	(9,065)	(7,665)
Total expenses	$ (3,548)	$ (3,279)	$ (11,073)	$ (9,652)

Segment Information - Summary_2

Segment Information - Summary of Segment Assets Reconciled to Consolidated Balance Sheet (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total assets	$ 843,499	$ 832,863
Consolidation, Eliminations [Member]
Segment Reporting Information [Line Items]
Total assets	(18,387)	(13,599)
Insurance Operations [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	702,651	615,983
Real Estate Operations [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	93,279	83,828
Corporate and Other [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	$ 65,956	$ 146,651

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Disclosure Of Leases [Abstract]
Operating Lease, Right-of-Use Asset	$ 557
Operating Lease, corresponding liabilities	590
Finance Lease, Right-of-Use Assets	79
Finance Lease, corresponding lease liabilities	$ 64	$ 55

Leases - Summarizes the Company

Leases - Summarizes the Company's operating and finance leases in which the Company (Detail)	9 Months Ended
	Sep. 30, 2019
Office Equipment [Member]
Operating lease:
Renewal Option	Yes
Storage unit [Member]
Operating lease:
Initial Term	2 years
Renewal Option	Yes
Office space [Member]
Operating lease:
Renewal Option	Yes
Minimum [Member] | Office Equipment [Member]
Operating lease:
Initial Term	1 month
Finance lease:
Initial Term	3 years
Minimum [Member] | Office space [Member]
Operating lease:
Initial Term	3 years
Maximum [Member] | Office Equipment [Member]
Operating lease:
Initial Term	63 months
Finance lease:
Initial Term	5 years
Maximum [Member] | Office space [Member]
Operating lease:
Initial Term	10 years

Leases - Maturities of lease li

Leases - Maturities of lease liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Leases [Abstract]
2019	$ 330
2020	248
2021	54
Total lease payments	632
Less: interest and foreign taxes	42
Operating Lease, Liability	590
2019	19
2020	19
2021	18
2022	13
Total lease payments	69
Less: interest and foreign taxes	5
Finance lease liabilities	$ 64	$ 55

Leases -The Company's operating

Leases -The Company's operating and finance leases (Detail) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)		Sep. 30, 2019USD ($)
Finance lease costs:
Amortization – ROU assets	$ 4	[1]	$ 10	[1]
Interest expense	1		2
Operating lease costs	90	[1]	244	[1]
Short-term lease costs	37	[1]	141	[1]
Total lease costs	132		397
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows – finance leases	1		2
Operating cash flows – operating leases	80		239
Financing cash flows – finance leases	$ 4		$ 9
Weighted-average remaining lease term:
Finance leases (in years)	3 years 9 months 18 days		3 years 9 months 18 days
Operating leases (in years)	1 year 10 months 24 days		1 year 10 months 24 days
Weighted-average discount rate:
Finance leases	3.70%		3.70%
Operating leases	4.00%		4.00%
[1]	Included in other operating expenses of the consolidated statement of income.

Leases - summarizes the Compa_2

Leases - summarizes the Company's operating leases (Detail)	9 Months Ended
	Sep. 30, 2019
Office space [Member]
Operating lease:
Renewal Option	Yes
Retail space [Member]
Operating lease:
Renewal Option	Yes
Boat docks/wet slips [Member]
Operating lease:
Renewal Option	Yes
Minimum [Member] | Office space [Member]
Operating lease:
Initial Term	1 year
Minimum [Member] | Retail space [Member]
Operating lease:
Initial Term	3 years
Minimum [Member] | Boat docks/wet slips [Member]
Operating lease:
Initial Term	1 month
Maximum [Member] | Office space [Member]
Operating lease:
Initial Term	3 years
Maximum [Member] | Retail space [Member]
Operating lease:
Initial Term	20 years
Maximum [Member] | Boat docks/wet slips [Member]
Operating lease:
Initial Term	12 months

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	May 31, 2018	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income tax expense (benefit)		$ 1,866	$ 2,926	$ 7,173	$ 12,056
Effective tax rate		24.20%	24.50%	26.30%	31.50%
Derecognition of deferred tax assets							$ 1,620
Disallowance of the deductibility dividends paid	$ 1,727
Corporate tax rate				4.458%		5.50%

Earnings Per Share - Summary of

Earnings Per Share - Summary of Numerator and Denominator of Basic and Fully Diluted (Loss) Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income	$ 5,853	$ 8,997	$ 20,144	$ 26,191
Less: Income attributable to participating securities	(325)	(591)	(1,114)	(92)
Basic Earnings Per Share:
Income allocated to common stockholders, Income (Numerator)	$ 5,528	$ 8,406	$ 19,030	$ 26,099
Income allocated to common stockholders, Shares (Denominator)	7,531	7,791	7,644	7,931
Income allocated to common stockholders, Per Share Amount	$ 0.73	$ 1.08	$ 2.49	$ 3.29
Diluted Earnings Per Share:
Income available to common stockholders and assumed conversions, Income (Numerator)	$ 5,528	$ 11,594	$ 25,858	$ 35,580
Income available to common stockholders and assumed conversions, Shares (Denominator)	7,539	11,616	10,403	11,751
Income available to common stockholders and assumed conversions, Per Share Amount	$ 0.73	$ 1	$ 2.49	$ 3.03
Convertible Senior Notes [Member]
Effect of Dilutive Securities:
Dilutive Securities, Income (Numerator)		$ 3,188	$ 6,828	$ 9,481
Dilutive Securities, Shares (Denominator)		3,808	2,745	3,803
Stock Options [Member]
Effect of Dilutive Securities:
Dilutive Securities, Income (Numerator)
Dilutive Securities, Shares (Denominator)	8	17	14	17

Stockholders' Equity (Common St

Stockholders' Equity (Common Stock) - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Jul. 02, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Stock repurchased and retired, total costs				$ 1,023	$ 941
Common Stock, Dividends, Per Share, Declared	$ 0.40
Dividends Payable, Date of Record	Aug. 6, 2019
Dividends Paid, Date	Sep. 20, 2019
Common Stock [Member]
Class of Stock [Line Items]
Repurchase and retirement of common stock, shares				24,849	23,346
2018 Plan [Member]
Class of Stock [Line Items]
Common stock repurchase authorized amount						$ 20,000
Common stock repurchased and retired, weighted average price, excluding fees and commissions		$ 40.99		$ 41.28
Stock repurchased and retired, total costs		$ 7,185		$ 15,191
Common stock repurchased and retired, weighted average price, including fees and commissions		$ 41.02		$ 41.31
2018 Plan [Member] | Common Stock [Member]
Class of Stock [Line Items]
Repurchase and retirement of common stock, shares		175,160		367,736
2017 Plan [Member]
Class of Stock [Line Items]
Common stock repurchase authorized amount							$ 20,000
Common stock repurchased and retired, weighted average price, excluding fees and commissions			$ 41.35		$ 39.06
Stock repurchased and retired, total costs			$ 6,156		$ 19,867
Common stock repurchased and retired, weighted average price, including fees and commissions			$ 41.38		$ 39.09
2017 Plan [Member] | Common Stock [Member]
Class of Stock [Line Items]
Repurchase and retirement of common stock, shares			148,768		508,290

Stock-Based Compensation (Incen

Stock-Based Compensation (Incentive Plans) - Additional Information (Detail)	Sep. 30, 2019shares
Omnibus Incentive Plan New Plan 2012 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares available for grant	1,733,271

Stock-Based Compensation (Stock

Stock-Based Compensation (Stock Options) - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options exercisable contractual term				10 years
Exercise of common stock options, shares		10,000
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise of common stock options, shares				10,000
Realized tax benefits of options exercised	$ (3)			$ 85
Recognized compensation expenses	222		$ 138	647	$ 384
Deferred tax benefits recognized	18		$ 20	57	$ 59
Unrecognized compensation expense related to nonvested stock options	$ 2,057			$ 2,057		$ 1,359
Recognition of remaining compensation expense over a weighted-average period				2 years 8 months 12 days
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options maximum vesting period				5 years

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Company's Stock Option Plan Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			6 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Roll Forward
Outstanding, Number of Options	340,000	350,000	240,000	340,000	240,000	340,000	240,000	240,000	130,000
Granted, Number of options		110,000	110,000
Exercised, Number of Options	10,000
Exercisable, Number of Options						92,500	47,500
Outstanding, Weighted Average Exercise Price	$ 43.21	$ 42.16	$ 37.19	$ 43.21	$ 37.19	$ 43.21	$ 37.19	$ 37.19	$ 34.82
Granted, Weighted Average Exercise Price		$ 53	$ 40
Exercised, Weighted Average Exercise Price	$ 6.30
Exercisable, Weighted-Average Exercise Price						$ 36.36	$ 25.81
Outstanding, Weighted-Average Remaining Contractual Term		8 years 6 months	8 years 9 months 18 days	8 years 4 months 24 days	8 years 7 months 6 days	8 years 1 month 6 days	8 years 3 months 18 days	8 years 9 months 18 days	8 years 2 months 12 days
Exercisable, Weighted-Average Remaining Contractual Term						7 years	6 years
Outstanding, Aggregate Intrinsic Value	$ 445	$ 1,329	$ 637	$ 445	$ 749	$ 1,057	$ 1,574	$ 3,278	$ 472
Exercisable, Aggregate Intrinsic Value						$ 627	$ 852

Stock-Based Compensation - Assu

Stock-Based Compensation - Assumptions Used to Estimate the Fair Value of Stock Options Granted (Detail)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Expected dividend yield	3.34%	4.00%
Expected volatility	40.17%	42.22%
Risk-free interest rate	2.53%	2.57%
Expected life (in years)	5 years	5 years

Stock Based Compensation - Info

Stock Based Compensation - Information with Respect to Unvested Restricted Stock Awards Stock Option and Incentive Plan (Detail) - $ / shares	May 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Forfeited, Number of Restricted Stock Awards	(260,000)
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance, shares		430,400	646,365	632,296	647,413	591,142	597,690
Granted, Number of Restricted Stock Awards		7,244	133,160	40,000	6,500	143,360	40,000
Vested, Number of Restricted Stock Awards			(84,914)	(21,250)		(59,974)	(28,643)
Forfeited, Number of Restricted Stock Awards		(2,351)	(264,211)	(4,681)	(7,432)	(27,115)	(17,905)
Ending balance, shares		435,293	430,400	646,365	646,481	647,413	591,142
Nonvested, Weighted-Average Grant Date Fair Value, Beginning balance		$ 41.06	$ 34.03	$ 33.33	$ 33.41	$ 31.53	$ 32.82
Granted, Weighted-Average Grant Date Fair Value		41.76	41.30	47.94	39.80	43.83	34.92
Vested, Weighted-Average Grant Date Fair Value			41.58	37.69		40.09	45.17
Forfeited, Weighted-Average Grant Date Fair Value		41.97	23.81	42.79	41.60	32.76	38.55
Nonvested, Weighted-Average Grant Date Fair Value, Ending balance		$ 41.07	$ 41.06	$ 34.03	$ 33.38	$ 33.41	$ 31.53

Stock-Based Compensation (Restr

Stock-Based Compensation (Restricted Stock Awards) - Additional Information (Detail) - USD ($) $ in Thousands	May 31, 2019	May 31, 2018	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock Awards Forfeited	260,000
Expected forfeiture of restricted stock awards			24,000						24,000
Declared dividends charged to earnings						$ 98			$ 237	$ 1,825
Retained income dividends cumulatively paid		$ 1,727
Other Operating Income (Expense) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Declared dividends charged to earnings			$ 10			18			67	399
Retained income dividends cumulatively paid		381
General and Administrative Personnel Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Declared dividends charged to earnings						80			170	1,426
Retained income dividends cumulatively paid		$ 1,346
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized compensation expenses			1,524			$ 1,231			4,047	$ 2,890
Total unrecognized compensation expense, Nonvested restricted stock arrangements granted			$ 14,392						$ 14,392		$ 11,199
Recognition of remaining compensation expense over a weighted-average period									2 years 8 months 12 days
Restricted Stock Awards Forfeited			2,351	264,211	4,681	7,432	27,115	17,905

Stock-Based Compensation - Info

Stock-Based Compensation - Information about Deferred Tax Benefits Recognized Related to Restricted Stock Awards, Paid Dividends and the Fair Value of Vested Restricted Stock (Detail) - Restricted Stock [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred tax benefits recognized	$ 282	$ 264	$ 772	$ 600
Tax benefits realized for restricted stock and paid dividends	$ 1	$ 68	986	916
Fair value of vested restricted stock			$ 4,331	$ 3,698

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)Contract	Dec. 31, 2018USD ($)
Commitments And Contingencies Disclosure [Abstract]
Number of multi-year flood reinsurance contracts | Contract	1
Due in 12 months following September 30, 2019	$ 2,967
Unfunded Balance	$ 14,405	$ 16,304

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Oct. 22, 2019	Oct. 17, 2019	Jul. 02, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Subsequent Event [Line Items]
Dividends per common share			$ 0.40
Dividends, date of record			Aug. 6, 2019
Dividends. date of payable			Sep. 20, 2019
Annualized gross written premiums (assumption)				$ (10)	$ (2)	$ (107)
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends per common share		$ 0.40
Dividends. date of declared		Oct. 17, 2019
Dividends, date of record		Nov. 15, 2019
Dividends. date of payable		Dec. 20, 2019
Annualized gross written premiums (assumption)	$ 7,300