Emergent Capital (EMGC) 10-Q 5 Nov 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013	Nov. 01, 2013
Document Information [Line Items]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-13	'
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q3	'
Trading Symbol	'IFT	'
Entity Registrant Name	'Imperial Holdings, Inc.	'
Entity Central Index Key	'0001494448	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Non-accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	21,237,166

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Assets	'	'
Cash and cash equivalents	$10,042	$7,001	[1]
Investment securities available for sale, at estimated fair value	'	12,147	[1]
Restricted cash	13,502	1,162	[1]
Deferred costs, net	'	7	[1]
Prepaid expenses and other assets	1,696	14,165	[1]
Deposits-other	1,597	2,855	[1]
Interest receivable, net	0	822	[1]
Loans receivable, net	0	3,044	[1]
Structured settlement receivables, at estimated fair value	1,784	1,680	[1]
Structured settlement receivables at cost, net	1,186	1,574	[1]
Investment in life settlements, at estimated fair value	50,113	113,441	[1]
Fixed assets, net	102	232	[1]
Investment in affiliates	2,360	2,212	[1]
Total assets	330,147	160,342	[1]
Liabilities	'	'
Accounts payable and accrued expenses	8,799	6,606	[1]
Other liabilities	22,609	20,796	[1]
Note payable, at estimated fair value	114,784	'
Income taxes payable	6,295	6,295	[1]
Total liabilities	152,745	33,697	[1]
Commitments and Contingencies (Note 17)	'	'	[1]
Stockholders' Equity	'	'
Common stock (80,000,000 authorized; 21,237,166 and 21,206,121 issued and outstanding as of September 30, 2013 and December 31, 2012, respectively)	212	212	[1]
Additional paid-in-capital	239,267	238,064	[1]
Accumulated other comprehensive loss	'	-3	[1]
Accumulated deficit	-62,077	-111,628	[1]
Total stockholders' equity	177,402	126,645	[1]
Total liabilities and stockholders' equity	330,147	160,342	[1]
Primary Beneficiary Variable Interest Entity	'	'
Assets	'	'
Cash and cash equivalents	3,395	'
Investment in life settlements, at estimated fair value	242,270	'
Receivable for maturity of life settlements	2,100	'
Liabilities	'	'
Accounts payable and accrued expenses	$258	'
[1]	Derived from audited consolidated financial statements.

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical)	Sep. 30, 2013	Dec. 31, 2012
Common stock, shares authorized	80,000,000	80,000,000	[1]
Common stock, shares issued	21,237,166	21,206,121	[1]
Common stock, shares outstanding	21,237,166	21,206,121	[1]
[1]	Derived from audited consolidated financial statements.

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended				9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013		Sep. 30, 2012		Sep. 30, 2013		Sep. 30, 2012
Income	'		'		'		'
Interest income	$58		$252		$220		$1,856
Interest and dividends on investment securities available for sale	'		72		14		332
Origination fee income	'		45		'		483
Realized gain on sale of structured settlements	2,102		2,187		8,772		7,796
(Loss) gain on life settlements, net	-461		-140		-1,708		151
Change in fair value of life settlements (Notes 13 & 15)	15,262		-17,530		81,948		-8,401
Unrealized change in fair value of structured settlements	430		409		1,211		1,587
Servicing fee income	'		271		310		955
Gain on maturities of life settlements with subrogation rights, net	'		'		'		6,090
Other income	116		123		2,206		989
Total income	17,507		-14,311		92,973		11,838
Expenses	'		'		'		'
Interest expense	1,158		141		12,020		1,219
Change in fair value of note payable	66		'		-5,295		'
Loss on extinguishment of debt	'		'		3,991		'
Provision for losses on loans receivable	'		'		'		441
(Gain) loss on loan payoffs and settlements, net	'		-139		-65		14
Amortization of deferred costs	'		254		7		1,751
Personnel costs	3,183		3,595		10,168		12,317
Marketing costs	461		1,034		1,889		4,481
Legal fees	3,522		9,328		12,265		22,918
Professional fees	1,655		1,559		4,375		5,272
Insurance	478		626		1,475		1,712
Other selling, general and administrative expenses	823		771		2,552		2,730
Total expenses	11,346		17,169		43,382		52,855
Income (loss) before income taxes	6,161		-31,480		49,591		-41,017
Benefit (provision) for income taxes	'		5		-40		46
Net income (loss)	$6,161		($31,475)		$49,551		($40,971)
Income (loss) per share:	'		'		'		'
Basic	$0.29		($1.48)		$2.34		($1.93)
Diluted	$0.29	[1],[2]	($1.48)	[1],[2]	$2.34	[1],[2]	($1.93)	[1],[2]
Weighted average shares outstanding:	'		'		'		'
Basic	21,219,880		21,206,121		21,215,344		21,205,622
Diluted	21,223,027		21,206,121		21,215,392		21,205,622
[1]	The computation of diluted EPS did not include 488,499 outstanding options and 4,240,521 outstanding warrants for the three months and nine months ended September 30, 2012, as the effect of their inclusion would have been anti-dilutive.
[2]	The computation of diluted EPS did not include 899,472 outstanding options and 4,240,521 outstanding warrants for the three months and nine months ended September 30, 2013, as the effect of their inclusion would have been anti-dilutive.

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (Loss) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Net income (loss)	$6,161	($31,475)	$49,551	($40,971)
Other comprehensive income, net of tax:	'	'	'	'
Unrealized gains on investment securities available for sale	'	9	'	73
Reclassification adjustment for gains included in net income	'	'	3	'
Comprehensive income (loss)	$6,161	($31,466)	$49,554	($40,898)

Consolidated_Statement_of_Stoc

Consolidated Statement of Stockholders' Equity (USD $)	Total		Common Stock	Additional Paid-in Capital	(Accumulated Deficit)	Accumulated Other Comprehensive Income (Loss)
In Thousands, except Share data
Beginning Balance at Dec. 31, 2012	$126,645	[1]	$212	$238,064	($111,628)	($3)
Beginning Balance (in shares) at Dec. 31, 2012	'		21,206,121	'	'	'
Comprehensive income	49,554		'	'	49,551	3
Stock-based compensation	1,107		'	1,107	'	'
Issuance of common stock (in shares)	'		13,759	'	'	'
Issuance of common stock	57		'	57	'	'
Issuance of restricted stock (in shares)	'		17,286	'	'	'
Issuance of restricted stock	39		'	39	'	'
Ending Balance at Sep. 30, 2013	$177,402		$212	$239,267	($62,077)	'
Ending Balance (in shares) at Sep. 30, 2013	'		21,237,166	'	'	'
[1]	Derived from audited consolidated financial statements.

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Cash flows from operating activities	'	'
Net income (loss)	$49,551	($40,971)
Adjustments to reconcile net income (loss) to net cash used in operating activities:	'	'
Depreciation and amortization	142	325
Loan origination cost	10,340	'
Loan financing cost	995	'
Amortization of premiums and accretion of discounts on available for sale securities	21	845
Provisions for losses on loans receivable	'	441
Stock-based compensation expense	1,203	205
(Gain) loss on loan payoffs and settlements, net	-65	14
Origination fee income	'	-483
Change in fair value of life settlements	-81,948	8,401
Unrealized change in fair value of structured settlements	-1,211	-1,587
Change in fair value of note payable	-5,295	'
Loss (gain) on life settlements	1,708	-151
Interest income on loans	-220	-1,856
Amortization of deferred costs	7	1,751
Loss on extinguishment of debt	3,991	'
Gain on sale and prepayment of investment securities available for sale	-22	-80
Change in assets and liabilities:	'	'
Restricted cash	-13,502	'
Certificate of deposit-restricted	'	895
Deposits-other	1,258	-1,317
Investment in affiliates	-148	-1,022
Structured settlement receivables	1,687	11,481
Prepaid expenses and other assets	12,461	-11,302
Accounts payable and accrued expenses	2,453	-5,100
Other liabilities	1,814	20,715
Interest receivable	95	221
Interest payable	'	-5,147
Deferred income tax	40	-46
Net cash used in operating activities	-14,645	-23,768
Cash flows from investing activities	'	'
Purchase of fixed assets, net of disposals	-4	-21
Purchase of investment securities available for sale	'	-35,492
Purchase of investments in life settlements	-7,000	-130
Proceeds from sale and prepayments of investment securities available for sale	12,111	67,915
Proceeds from maturity of investment in life settlements	6,039	'
Premiums paid on investments in life settlements	-50,984	-20,106
Proceeds from surrender of investments in life settlements	1,049	'
Proceeds from sale of investments in life settlements	1,764	5,626
Proceeds from loan payoffs and lender protection insurance claims received in advance	691	24,687
Net cash (used in) provided by investing activities	-36,334	42,479
Cash flows from financing activities	'	'
Repayment of borrowings under bridge facility	-45,000	-18,054
Restricted cash	1,162	-457
Borrowings from bridge facility	41,400	'
Loan origination cost	-6,731	'
Borrowings from revolving credit facility	66,584	'
Net cash provided by (used in) financing activities	57,415	-18,511
Net increase in cash and cash equivalents	6,436	200
Cash and cash equivalents, at beginning of the period	7,001	16,255
Cash and cash equivalents, at end of the period	13,437	16,455
Supplemental disclosures of cash flow information:	'	'
Cash paid for interest during the period	825	6,353
Supplemental disclosures of non-cash investing activities:	'	'
Investment in life settlements acquired in foreclosure	3,168	5,050
Supplemental disclosures of non-cash financing activities:	'	'
Purchase of policies through release of subrogation claim paid by lender	48,500	'
Credit facility origination costs paid to lender	4,000	'
Interest payment withheld from borrowings by lender	840	'
Fees paid directly by borrower	$155	'

Description_of_Business

Description of Business	9 Months Ended
	Sep. 30, 2013
Description of Business	'
	(1) Description of Business
	Imperial Holdings, Inc. (“Imperial,” the “Company,” “we” or “us”) was formed initially as a Florida limited liability Company pursuant to an operating agreement dated December 15, 2006 between IFS Holdings, Inc., IMEX Settlement Corporation, Premium Funding, Inc. and Red Oak Finance, LLC. In connection with the Company’s initial public offering on February 3, 2011, the Company succeeded to the business, assets and liabilities of the limited liability company.
	The Company, operating through its subsidiaries, is a specialty finance company with its corporate office in Boca Raton, Florida. The Company operates in two reportable business segments: life finance (formerly referred to as premium finance) and structured settlements. In the life finance business, the Company previously earned revenue/income from servicing life insurance policies. The Company currently earns revenue from changes in the fair value of life settlements the Company acquires and receipt of death benefits with respect to matured life insurance policies it owns. In the structured settlement business, the Company purchases structured settlements at a discounted rate and sells such assets to third parties.
	In February 2011, the Company completed the sale of 17,602,614 shares of common stock in its initial public offering at a price of $10.75 per share. The Company received net proceeds of approximately $174.2 million after deducting the underwriting discounts and commissions and its offering expenses.
	On September 27, 2011, the Company was informed that it was being investigated by the U.S. Attorney’s Office for the District of New Hampshire (the “USAO Investigation”). At that time, the Company was informed that, among other individuals, its former president and chief operating officer and three former life finance sales executives were considered “targets” of the USAO Investigation. The USAO Investigation focused on the Company’s premium finance loan business.
	On February 17, 2012, the Company first received a subpoena issued by the staff of the U.S. Securities and Exchange Commission (the “SEC”) seeking documents from 2007 through the present, generally related to the Company’s premium finance business and corresponding financial reporting. The SEC is investigating whether any violations of federal securities laws have occurred and the Company has been cooperating with the SEC regarding this matter. The Company is unable to predict what action, if any, might be taken in the future by the SEC or its staff as a result of the investigation or what impact, if any, the cost of responding to the SEC might have on the Company’s financial position, results of operations, or cash flows. The Company has not established any provision for losses in respect of this matter.
	On April 30, 2012, the Company entered into a Non-Prosecution Agreement (the “Non-Prosecution Agreement”) with the USAO, which agreed not to prosecute the Company for its involvement in the making of misrepresentations on life insurance applications in connection with its premium finance business or any potential securities fraud claims related to its premium finance business. In the Non-Prosecution Agreement, the USAO and the Company agreed among other things, that the following facts are true and correct: (i) at all relevant times (x) certain insurance companies required that the prospective insured applying for a life insurance policy, and sometimes the agent, disclose information relating to premium financing on applications for life insurance policies, and (y) the questions typically required the prospective insured to disclose if he or she intended to seek premium financing in connection with the policy and sometimes required the agent to disclose if he or she was aware of any such intent on the part of the applicant; (ii) in connection with a portion of the Company’s retail operation known as “retail non-seminar” that began in December 2006 and was discontinued in January 2009, Imperial had a practice of disclosing on applications that the prospective insured was seeking premium financing when the life insurance company allowed premium financing from Imperial; however, in certain circumstances, Imperial internal life agents facilitated and/or made misrepresentations on applications that the prospective insured was not seeking premium financing when the insurance carrier was likely to deny the policy on the basis of premium financing; and (iii) to the extent that external agents, brokers and insureds caused other misrepresentations to be made in life insurance applications in connection with the retail non-seminar business, Imperial failed to appropriately tailor controls to prevent potential fraudulent practices in that business. As of September 30, 2013, the Company had 41 policies in its portfolio that once served as collateral for premium finance loans derived through the retail non-seminar business.
	In connection with the Non-Prosecution Agreement, Imperial voluntarily agreed to terminate its premium finance business, which historically accounted for the majority of the Company’s revenues and terminated certain senior sales staff associated with the premium finance business. Additionally, the Company paid the United States Government $8.0 million, and agreed to cooperate fully with the USAO’s ongoing investigation and to refrain from and self-report any criminal conduct. The Non-Prosecution Agreement has a term of three years until April 30, 2015, but after April 30, 2014 the Company may petition the USAO to forego the final year of the Non-Prosecution Agreement, if the Company otherwise complies with all of its obligations under the Non-Prosecution Agreement. Should the USAO conclude that Imperial has not abided by its obligations under the Non-Prosecution Agreement, the USAO could choose to terminate the Non-Prosecution Agreement, resume its investigation of the Company, or bring charges against Imperial. While the Non-Prosecution Agreement effectively resolved the USAO Investigation as it pertains to the Company (subject to the Company’s continuing compliance with its terms), the USAO is continuing to investigate certain individuals formerly employed by the Company and the Company is continuing to incur expenses regarding its indemnification obligations with respect to such individuals.
	Revolving Credit Facility and Related Transactions
	Effective April 29, 2013, White Eagle Asset Portfolio, LLC (“White Eagle”), an indirect subsidiary of the Company, entered into a 15-year revolving credit agreement (the “Revolving Credit Facility”) with LNV Corporation, as initial lender, Imperial Finance & Trading, LLC, as servicer and portfolio manager and CLMG Corp., as administrative agent, providing for up to $300.0 million in borrowings. Proceeds from the initial advance under the facility were used, in part, to retire a short term $45.0 million bridge facility (the “Bridge Facility”) and to fund the Release Payment described below. Ongoing draws under the Revolving Credit Facility may be used, among other things, to pay premiums on the life insurance policies that have been pledged as collateral under the Revolving Credit Facility. Proceeds from the policies pledged as collateral will be distributed pursuant to a waterfall. After premium payments and fees to service providers, 100% of the remaining proceeds will be directed to pay outstanding principal and interest on the loan. Generally, after payment of principal and interest, collections from policy proceeds are to be paid to White Eagle up to $76.1 million, then 50% of the remaining proceeds are to be directed to the lenders with the remainder paid to White Eagle. As of September 30, 2013, 458 life insurance policies owned by White Eagle with an aggregate death benefit of approximately $2.3 billion and an estimated fair value of approximately $242.3 million have been pledged as collateral under the Revolving Credit Facility.
	On April 30, 2013, the Company and certain of its subsidiaries (together, the “Imperial Parties”) entered into a Master Termination Agreement and Release (the “Termination Agreement”) with CTL Holdings, LLC (“CTL” and together with the Imperial Parties, the “LPIC Parties”) and Lexington Insurance Company (the “LPIC Provider”). Under the Termination Agreement, the LPIC Parties made a payment of $48.5 million to the LPIC Provider (the “Release Payment”) and the LPIC Provider and the LPIC Parties provided full releases to each other in respect of the lender protection insurance coverage issued by the LPIC Provider and the claims paid by the LPIC Provider in respect of that coverage. With the effectiveness of the Termination Agreement, the LPIC Provider released any and all subrogation claims and related salvage rights in 323 life insurance policies with an aggregate death benefit of approximately $1.6 billion that have been kept off-balance sheet as contingent assets for financial reporting purposes in prior periods and that had historically been characterized as “Life Settlements with Subrogation rights, net.” 267 of the 323 life insurance policies were pledged by White Eagle as collateral under the Revolving Credit Facility at September 30, 2013.
	On April 30, 2013, OLIPP III, LLC, a subsidiary of the Company purchased all of the membership interests in CTL from Monte Carlo Securities, Ltd. in exchange for $7.0 million and for assuming the amount of the Release Payment allocated to CTL. Prior to this acquisition, the LPIC Provider maintained subrogation rights in the 93 life insurance policies owned by CTL with an aggregate death benefit of approximately $340.0 million. Those rights were terminated pursuant to the Termination Agreement. The acquisition of CTL was treated as a related party transaction as the Company’s chief executive officer was the manager of CTL at the time of the acquisition and was recused from participating in the Company’s Board of Directors’ consideration and approval of the acquisition.
	At September 30, 2013, the Company or its subsidiaries owned 396 policies that were either acquired through the acquisition of CTL or that were considered contingent assets prior to the effectiveness of the Termination Agreement, with an aggregate death benefit of $1.9 billion and an estimated fair value of approximately $153.4 million. The Company believes that it was uniquely positioned to transact with both the LPIC Provider and CTL and that the transaction prices were, accordingly, not indicative of what an exit price would be for these 396 policies in a negotiated market transfer. The addition of these policies resulted in a $65.8 million unrealized gain in investments in life settlements during the nine months ended September 30, 2013 and policy acquisitions similar in scale and in transaction price to those made during the quarter should not be anticipated in future periods.
	Due to these policy additions, the application of fair value accounting to amounts owing under the Revolving Credit Facility and the elimination of servicing fee income through intercompany consolidation, the results of prior periods may not be comparable to the Company’s results at September 30, 2013 or in future periods.
	During the quarter ended September 30, 2013, the Company sold two policies that were not pledged as collateral under the Revolving Credit Facility for gross proceeds of $1.8 million.
	At September 30, 2013, the Company’s portfolio of life insurance policies consisted of 622 life settlements with an aggregate death benefit of approximately $3.0 billion. 164 of these policies with an aggregate death benefit of approximately $716.9 million have not been pledged under the Revolving Credit Facility.
	Life Finance
	Our life finance segment is comprised of our life settlements businesses. The Company historically provided premium finance loans for individual life insurance policies and, commencing in 2011, began using its life settlement provider licenses to purchase life insurance policies. As described above, the Company voluntarily terminated its premium finance business in connection with the Non-Prosecution Agreement with the USAO.
	Structured Settlements
	Washington Square Financial, LLC, a wholly-owned subsidiary of the Company, purchases structured settlements from individuals. Structured settlements refer to a contract between a plaintiff and defendant, whereby the plaintiff agrees to settle a lawsuit (usually a personal injury, product liability or medical malpractice claim) in exchange for periodic payments over time. A defendant’s payment obligation with respect to a structured settlement is usually assumed by a casualty insurance company. This payment obligation is then satisfied by the casualty insurer through the purchase of an annuity from a highly rated life insurance company, thereby providing a high credit quality stream of payments to the plaintiff.
	Recipients of structured settlements are permitted to sell their deferred payment streams to a structured settlement purchaser pursuant to state statutes that require certain disclosures, notice to the obligors and state court approval. Through such sales, the Company purchases a certain number of fixed, scheduled future settlement payments on a discounted basis in exchange for a single lump sum payment.

Principles_of_Consolidation_an

Principles of Consolidation and Basis of Presentation	9 Months Ended
	Sep. 30, 2013
Principles of Consolidation and Basis of Presentation	'
	(2) Principles of Consolidation and Basis of Presentation
	The accompanying unaudited consolidated financial statements include the accounts of the Company, all of its wholly-owned subsidiaries, indirect subsidiaries and its special purpose entities, with the exception of Imperial Settlements Financing 2010, LLC (“ISF 2010”), an unconsolidated special purpose entity (see Note 5 and 12). The special purpose entity has been created to fulfill specific objectives. All significant intercompany balances and transactions have been eliminated in consolidation, including revenue from servicing policies pledged as collateral under the Revolving Credit Facility. Notwithstanding consolidation, White Eagle is the owner of 458 policies, with an aggregate death benefit of approximately $2.3 billion and an estimated fair value of approximately $242.3 million at September 30, 2013.
	The unaudited consolidated financial statements have been prepared in conformity with the rules and regulations of the SEC for Form 10-Q and therefore do not include certain information, accounting policies, and footnote disclosures information or footnotes necessary for a complete presentation of financial position, results of operations and cash flows in conformity with generally accepted accounting principles. However, all adjustments (consisting of normal recurring accruals), which, in the opinion of management, are necessary for a fair presentation of the financial statements, have been included. Operating results for the nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for the year ending December 31, 2013. These interim financial statements should be read in conjunction with the Consolidated Financial Statements and Notes thereto included in Imperial’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012.
	Use of Estimates
	The preparation of these consolidated financial statements, in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates and such differences could be material. Significant estimates made by management include the loan impairment valuation, income taxes, valuation of securities available for sale, valuation of structured settlement receivables, the valuation of investments in life settlements and the valuation of its note payable owing under the Revolving Credit Facility.

Recent_Accounting_Pronouncemen

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2013
Recent Accounting Pronouncements	'
	(3) Recent Accounting Pronouncements
	In February 2013, the Financial Accounting Standards Board (“FASB”) issued ASU 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. ASU 2013-02 requires entities to report, either on the face of the income statement or in the notes, the effect of significant reclassifications out of accumulated other comprehensive income (“AOCI”) on the respective line items in net income if the amount being reclassified is required under GAAP to be reclassified in its entirety to net income. For other amounts that are not required under GAAP to be reclassified in their entirety from AOCI to net income in the same reporting period, an entity is required to cross-reference other disclosures required under GAAP that provide additional detail about those amounts. See Note 4, Changes in Accumulated Other Comprehensive Loss, Net of Tax, for the required disclosures. ASU 2013-02 was effective as of January 1, 2013 for Imperial and did not have a significant impact on our financial statements, other than presentation.
	In March 2013, the FASB issued ASU No. 2013-05, Foreign Currency Matters (Topic 830): Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity (“ASU 2013-05”). ASU 2013-05 clarifies the applicable guidance applied for the release of cumulative translation adjustments into net income when a reporting entity either sells a part or all of its investment in a foreign entity or ceases to have a controlling financial interest in a subsidiary or group of assets that constitute a business within a foreign entity. ASU 2013-05 is effective prospectively for reporting periods beginning after December 15, 2013, with early adoption permitted. The Company does not anticipate the adoption of this amendment will have a material impact on its financial statements.
	In July 2013, the FASB issued ASU No. 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (“ASU 2013-11”). ASU 2013-11 requires, unless certain conditions exists, an unrecognized tax benefit, or a portion of an unrecognized tax benefit, to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, similar tax loss, or a tax credit carryforward. ASU 2013-11 is effective prospectively for reporting periods beginning after December 15, 2013, with early adoption permitted. Retrospective application is permitted. The Company does not anticipate the adoption of this amendment will have a material impact on its financial statements.

Changes_in_Accumulated_Other_C

Changes in Accumulated Other Comprehensive Loss, Net of Tax	9 Months Ended
	Sep. 30, 2013
Changes in Accumulated Other Comprehensive Loss, Net of Tax	'
	(4) Changes in Accumulated Other Comprehensive Loss, Net of Tax
	The following table presents changes in accumulated other comprehensive loss, net of tax, by component for the nine months ended September 30, 2013 (in thousands):
		Unrealized
		Gains and
		Losses on
		Available-for-
		Sale Securities
	Balance as of December 31, 2012	$	(3	)
	Amounts reclassified from accumulated other comprehensive income		3
	Balance as of September 30, 2013	$	—
	Reclassifications out of accumulated other comprehensive loss, net of tax, for the nine months ended September 30, 2013 are as follows (in thousands):
		Amount Reclassified			Affected Line in
		from Accumulated			the Consolidated
		Other Comprehensive			Statement of
		Loss			Operations
	Loss on available for sale securities	$	(22	)	Other Expenses
	Tax effect		25		Provision for Income Tax
	Total amount reclassified from accumulated other comprehensive loss for the nine months ended September 30, 2013	$	3

Consolidation_of_Variable_Inte

Consolidation of Variable Interest Entities	9 Months Ended
	Sep. 30, 2013
Consolidation of Variable Interest Entities	'
	(5) Consolidation of Variable Interest Entities
	The Company evaluates its interests in variable interest entities (“VIEs”) on an ongoing basis and consolidates those VIEs in which it has a controlling financial interest and is thus deemed to be the primary beneficiary. A controlling financial interest has both of the following characteristics: (i) the power to direct the activities of the VIE that most significantly impact its economic performance; and (ii) the obligation to absorb losses of the VIE that could potentially be significant to it or the right to receive benefits from the VIE that could be significant to the VIE.
	The following table presents the consolidated assets and consolidated liabilities of VIEs for which the Company has concluded that it is the primary beneficiary and which are consolidated in the Company’s consolidated financial statements as of September 30, 2013, as well as non-consolidated VIEs for which the Company has determined it is not the primary beneficiary (in thousands):
		Primary Beneficiary				Not Primary
						Beneficiary
		Consolidated VIEs				Non-consolidated VIEs
		Assets		Liabilities		Total		Maximum Exposure
						Assets		To Loss
	30-Sep-13	$	247,765	$	115,042	$	2,360	$	2,360
	31-Dec-12	$	—	$	—	$	2,212	$	2,212
	On December 21, 2012, Greenwood Asset Portfolio, LLC (“Greenwood’), a subsidiary of the Company, opened a securities intermediary account which provides for a securities intermediary to hold Greenwood’s life insurance policies on its behalf. As of December 31, 2012, OLIPP IV, LLC, a wholly-owned subsidiary of the Company, contributed 191 life settlements with an estimated fair value of approximately $104.6 million to Greenwood. On March 27, 2013, as part of the Bridge Facility, Greenwood, as issuer, and the Company and OLIPP IV, LLC, as guarantors, entered into an indenture with Wilmington Trust Company, as indenture trustee, under which an aggregate principal amount of $45.0 million of 12% increasing rate senior secured bridge notes were issued to certain entities associated with certain of the Company’s shareholders, including to entities associated with two of the Company’s directors. Interest under the Bridge Facility accrued at 12% per annum for the first nine months from the issue date, and increases of 600 basis points thereafter to 18% per annum were scheduled. Up to 25% of the net proceeds from the Bridge Facility after transaction expenses could have been used by the Company for general corporate purposes, including for premium payments on life insurance policies not owned by Greenwood, with the balance used to pay fees and expenses associated with the Bridge Facility and for premiums on life insurance policies owned by Greenwood. The Bridge Facility was guaranteed by the Company and secured by the cash on account at Greenwood and its portfolio of life insurance policies. The Bridge Facility was also secured by pledges of the equity interests of Greenwood’s direct parent and each subsidiary of the Company, other than its licensed life settlement provider, that held life insurance policies that were not subject to the subrogation rights of the Company’s lender protection insurance carrier.
	Effective April 29, 2013, White Eagle entered into the Revolving Credit Facility and a portion of the proceeds from the initial borrowings were used to repay all outstanding amounts under the Bridge Facility. Ongoing draws under the Revolving Credit Facility may be used, among other things, to pay premiums on the life insurance policies that have been pledged as collateral under the Revolving Credit Facility. As of September 30, 2013, 458 life insurance policies owned by White Eagle with an aggregate death benefit of approximately $2.3 billion and an estimated fair value of approximately $242.3 million at September 30, 2013 were pledged as collateral under the Revolving Credit Facility. A Company subsidiary acts as portfolio manager and servicer for life insurance policies owned by White Eagle and the Company was determined to be the primary beneficiary of White Eagle as it has a controlling financial interest and the power to direct the activities that most significantly impacted White Eagle’s economic performance and the obligation to absorb economic gains and losses. In accordance with Accounting Standards Codification (“ASC”) 810, Consolidation, the Company consolidated White Eagle in its financial statements for the period ended September 30, 2013.
	ISF 2010 is an unconsolidated special purpose entity formed to allow the Company to sell structured settlements and assignable annuities, and to borrow against certain of its receivables to provide ISF 2010 liquidity. In determining whether the Company is the primary beneficiary, the Company concluded that it does not control the servicing, which is the activity that most significantly impacts the VIE’s performance. An independent third party is the master servicer and they can only be replaced by the control party, which is the entity that holds the majority of the outstanding notes. A Company subsidiary is a back-up servicer and is insignificant to ISF 2010’s performance. The Company’s maximum exposure related to ISF 2010 is limited to 5% of the dollar value of the ISF 2010 transactions, which is held back by ISF 2010 at the time of sale, and is designed to absorb potential losses in collecting the receivables. The obligations of ISF 2010 are non-recourse to the Company. The total funds held back by ISF 2010 as of September 30, 2013 and December 31, 2012 were approximately $2.4 million and $2.2 million, respectively and are included in investment in affiliate in the accompanying consolidated balance sheet.

Gain_on_Maturities_of_Life_Set

Gain on Maturities of Life Settlements with Subrogation Rights, net	9 Months Ended
	Sep. 30, 2013
Gain on Maturities of Life Settlements with Subrogation Rights, net	'
	(6) Gain on Maturities of Life Settlements with Subrogation Rights, net
	In prior periods, the Company experienced maturities in respect of policies that were subject to subrogation claims of the LPIC Provider. These maturities were accounted for as contingent gains in accordance with ASC 450, Contingencies and the Company recognized gains only when all contingencies were resolved. Upon the execution of the Termination Agreement, the LPIC Provider released any and all subrogation claims and related salvage rights in the life insurance policies that had been characterized as “Life Settlements with Subrogation rights, net.” As a result of the Termination Agreement, the Company will no longer have any gains on maturities of life settlements with subrogation rights, net. During the nine months ended September 30, 2012 the Company reported $6.1 million net of subrogation expense associated with these maturities.

Earnings_Per_Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2013
Earnings Per Share	'
	(7) Earnings Per Share
	Basic net income per share is computed by dividing the net earnings attributable to common shareholders by the weighted average number of common shares outstanding during the period.
	Diluted earnings per share is computed by dividing net income attributable to common shareholders by the weighted average number of common shares outstanding, increased to include the number of additional common shares that would have been outstanding if the dilutive potential common shares had been issued. Conversion or exercise of the potential common shares is not reflected in diluted earnings per share, unless the effect is dilutive. The dilutive effect, if any, of outstanding common share equivalents is reflected in diluted earnings per share by application of the treasury stock method, as applicable. In determining whether outstanding stock options, restricted stock, and common stock warrants should be considered for their dilutive effect, the average market price of the common stock for the period has to exceed the exercise price of the outstanding common share equivalent.
	The following tables reconcile actual basic and diluted earnings per share for the three months and nine months ended September 30, 2013 and 2012 (in thousands except share and per share data).
			For the Three Months					For the Nine Months
			Ended September 30,					Ended September 30,
			2013		2012			2013		2012
	Basic income (loss) per share:
	Numerator:
	Net income (loss) available to common stockholders		$	6,161	$	(31,475	)	$	49,551	$	(40,971	)
	Denominator:
	Weighted average common shares outstanding			21,219,880		21,206,121			21,215,344		21,205,622
	Basic income (loss) per share		$	0.29	$	(1.48	)	$	2.34	$	(1.93	)
	Diluted income (loss) per share:
	Numerator:
	Net income (loss) available to common stockholders		$	6,161	$	(31,475	)	$	49,551	$	(40,971	)
	Denominator:
	Weighted average common shares outstanding			21,219,880		21,206,121			21,215,344		21,205,622
	Add: Restricted Stock			3,147		—			48		—
	Diluted weighted average shares outstanding			21,223,027		21,206,121			21,215,392		21,205,622
	Diluted income (loss) per share(1)(2)		$	0.29	$	(1.48	)	$	2.34	$	(1.93	)
	-1	The computation of diluted EPS did not include 488,499 outstanding options and 4,240,521 outstanding warrants for the three months and nine months ended September 30, 2012, as the effect of their inclusion would have been anti-dilutive.
	-2	The computation of diluted EPS did not include 899,472 outstanding options and 4,240,521 outstanding warrants for the three months and nine months ended September 30, 2013, as the effect of their inclusion would have been anti-dilutive.

Investment_Securities_Availabl

Investment Securities Available for Sale	9 Months Ended
	Sep. 30, 2013
Investment Securities Available for Sale	'
	(8) Investment Securities Available for Sale
	The Company had no securities available for sale at September 30, 2013. The Company liquidated its entire portfolio of investment securities available for sale during the first quarter of 2013. Proceeds from sale and prepayment of investment securities available for sale during the nine months ended September 30, 2013 and 2012 amounted to zero and approximately $67.9 million, respectively, resulting in gross realized gains of approximately $22,000 and gross unrealized losses of $80,000, respectively. The amortized cost and estimated fair values of securities available for sale at December 31, 2012 are as follows (in thousands):
		December 31, 2012
	Description of Securities	Amortized		Gross Unrealized			Gross Unrealized			Estimated
		Cost		Gains			Losses			Fair Value
	Corporate bonds	$	8,275		25		$	(67	)	$	8,233
	Government bonds		3,524		76			—			3,600
	Other bonds		310		4			—			314
	Total available for sale securities	$	12,109	$	105		$	(67	)	$	12,147
	The scheduled maturities of securities at December 31, 2012, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties (in thousands).
		December 31, 2012
		Amortized Cost		Estimated Fair Value
	Due in one year or less	$	6,172	$	6,197
	Due after one year but less than five years		2,413		2,350
	Due after five years but less than ten years		3,524		3,600
	Total available for sale securities	$	12,109	$	12,147
	Information pertaining to securities with gross unrealized losses at December 31, 2012, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position is as follows (in thousands):
		December 31, 2012
		Less than 12 Months					12 Months or More					Total
	Description of Securities	Estimated		Unrealized			Estimated			Unrealized		Estimated		Unrealized
		Fair Value		Loss			Fair Value			Loss		Fair Value		Loss
	Corporate bonds		1,932		(67	)		—			—		1,932		(67	)
	Government bonds		—		—			—			—		—		—
	Other bonds		—		—			—			—		—		—
	Total available for sale securities	$	1,932	$	(67	)	$	—		$	—	$	1,932	$	(67	)
	The Company monitors its investment securities available for sale for other-than-temporary impairment, or OTTI, on an individual security basis considering numerous factors, including the Company’s intent to sell securities in an unrealized loss position, the likelihood that the Company will be required to sell these securities before an anticipated recovery in value, the length of time and extent to which fair value has been less than amortized cost, the historical and implied volatility of the fair value of the security, failure of the issuer of the security to make scheduled interest or principal payments, any changes to the rating of the security by a rating agency and recoveries or additional declines in fair value subsequent to the balance sheet date. The relative significance of each of these factors varies depending on the circumstances related to each security.

Loans_Receivable

Loans Receivable	9 Months Ended
	Sep. 30, 2013
Loans Receivable	'
	(9) Loans Receivable
	The Company had no loans receivable or interest receivable at September 30, 2013.
	A summary of loans receivable at December 31, 2012 is as follows (in thousands):
			December 31,
			2012
	Loan principal balance		$	5,255
	Loan origination fees, net			1,157
	Loan impairment valuation			(3,368	)
	Loans receivable, net		$	3,044
	The Company also had interest receivable, net which consisted of approximately $727,000 in accrued and unpaid interest at December 31, 2012, and a related impairment valuation of approximately $947,000.
	An analysis of the changes in loans receivable principal balance during the three months and nine months ended September 30, 2013 and 2012 is as follows (in thousands):
			For the Three Months Ended						For the Nine Months Ended
			September 30,						September 30,
			2013			2012			2013			2012
	Loan principal balance, beginning		$	364		$	12,935		$	5,255		$	31,264
	Loan payoffs			—			(2,712	)		(652	)		(16,037	)
	Loans transferred to investments in life settlements			(364	)		(2,550	)		(4,603	)		(7,554	)
	Loan principal balance, ending		$	—		$	7,673		$	—		$	7,673
	Loan origination fees include fees that are payable to the Company on the date the loan matures. The loan origination fees are reduced by any direct costs that are directly related to the creation of the loan receivable in accordance with ASC 310-20, Receivables — Nonrefundable Fees and Other Costs, and the net balance is accreted over the life of the loan using the effective interest method. Discounts include purchase discounts, net of accretion, which are attributable to loans that were acquired from affiliated companies under common ownership and control.
	In accordance with ASC 310, Receivables, the Company specifically evaluates all loans for impairment based on the fair value of the underlying policies as foreclosure is considered probable. The loans are considered to be collateral dependent as the repayment of the loans is expected to be provided by the underlying policies.
	An analysis of the loan impairment valuation for the three months ended September 30, 2013 is as follows (in thousands):
			Loans			Interest			Total
			Receivable			Receivable
	Balance at beginning of period		$	248		$	90		$	338
	Charge-offs			(248	)		(90	)		(338	)
	Balance at end of period		$	—		$	—		$	—
	An analysis of the loan impairment valuation for the three months ended September 30, 2012 is as follows (in thousands):
			Loans			Interest			Total
			Receivable			Receivable
	Balance at beginning of period		$	5,517		$	1,309		$	6,826
	Charge-offs			(1,487	)		(252	)		(1,739	)
	Balance at end of period		$	4,030		$	1,057		$	5,087
	An analysis of the loan impairment valuation for the nine months ended September 30, 2013 is as follows (in thousands):
			Loans			Interest			Total
			Receivable			Receivable
	Balance at beginning of period		$	3,368		$	947		$	4,315
	Charge-offs			(3,368	)		(947	)		(4,315	)
	Balance at end of period		$	—		$	—		$	—
	An analysis of the loan impairment valuation for the nine months ended September 30, 2012 is as follows (in thousands):
			Loans			Interest			Total
			Receivable			Receivable
	Balance at beginning of period		$	10,195		$	1,920		$	12,115
	Provision for losses			360			81			441
	Charge-offs			(6,525	)		(944	)		(7,469	)
	Balance at end of period		$	4,030		$	1,057		$	5,087
	An analysis of the allowance for loan losses and recorded investment in loans by loan type for the nine months ended September 30, 2013 is as follows (in thousands):
			Uninsured			Insured			Total
			Loans			Loans(1)
	Loan impairment valuation
	Balance at beginning of period		$	2,692		$	676		$	3,368
	Charge-offs			(2,692	)		(676	)		(3,368	)
	Ending balance		$	—		$	—		$	—
	Ending balance: individually evaluated for impairment		$	—		$	—		$	—
	-1	As a result of the entry into the Termination Agreement on April 30, 2013, the LPIC Provider is no longer obligated to pay claims on loans that were not insured.
	An analysis of the allowance for loan losses and recorded investment in loans by loan type for the nine months ended September 30, 2012 is as follows (in thousands):
			Uninsured			Insured			Total
			Loans			Loans
	Loan impairment valuation
	Balance at beginning of period		$	7,103		$	3,092		$	10,195
	Provision for loan losses			—			360			360
	Charge-offs			(3,687	)		(2,838	)		(6,525	)
	Ending balance		$	3,416		$	614		$	4,030
	Ending balance: individually evaluated for impairment		$	3,416		$	614		$	4,030
All loans were individually evaluated for impairment as of September 30, 2012. There were no loans collectively evaluated for impairment and there were no loans acquired with deteriorated credit quality.
An analysis of the credit quality indicators by loan type at December 31, 2012 is presented in the following table (dollars in thousands):
		Uninsured						Insured(1)
S&P Designation		Unpaid			Percent			Unpaid			Percent
		Principal						Principal
		Balance						Balance
AAA		$	—			0	%	$	—			0	%
AA+			—			0	%		—			0	%
AA			—			0	%		—			0	%
AA-			2,072			43.58	%		408			81.44	%
A+			2,548			53.97	%		93			18.56	%
A1			—			0	%		—			0	%
A			—			0	%		—			0	%
BB-			134			2.45	%		—			0	%
Total		$	4,754			100	%	$	501			100	%
-1	All of the Company’s insured loans had lender protection coverage with Lexington Insurance Company. As of December 31, 2012, Lexington had a financial strength rating of “A” with a stable outlook by Standard & Poors (S&P). As a result of the entry into the Termination Agreement on April 30, 2013, the LPIC Provider was released from its obligation to pay claims on loans that were insured.
The Company had no loans at September 30, 2013.
A summary of our investment in impaired loans at December 31, 2012 is as follows (in thousands):
		December 31,
		2012
Loan receivable, net		$	3,011
Interest receivable, net			724
Investment in impaired loans		$	3,735
An analysis of impaired loans with and without a related allowance at December 31, 2012 is presented in the following table by loan type (in thousands):
		Recorded			Unpaid			Related			Average			Interest
		Investment			Principal			Allowance			Recorded			Income
					Balance						Investment			Recognized
With no related allowance recorded:
Uninsured Loans		$	—		$	—		$	—		$	—		$	—
Insured Loans			—			—			—			—			—
With an allowance recorded:
Uninsured Loans			3,623			4,735			3,413			6,887			1,444
Insured Loans			112			501			902			7,091			227
Total Impaired Loans		$	3,735		$	5,236		$	4,315		$	13,978		$	1,671
The amount of the investment in impaired loans that had an allowance as of December 31, 2012 was $3.7 million. The amount of the investment in impaired loans that did not have an allowance was zero as of December 31, 2012. The average investment in impaired loans ended December 31, 2012 was approximately $14.0 million. The interest recognized on the impaired loans was approximately $132,000 and $1.1 million for the nine months ended September 30, 2013 and September 2012, respectively.
The Company had no loans at September 30, 2013. An analysis of past due loans at December 31, 2012 is presented in the following table by loan type (in thousands):
		30-59 Days			60-89 Days			Greater Than			Total
		Past Due			Past Due			90 Days			Past Due
								Past Due
Uninsured Loans		$	—		$	—		$	599		$	599
Insured Loans			—			—			315			315
Total		$	—		$	—		$	914		$	914
During the nine months ended September 30, 2013 and the year ended December 31, 2012, the Company did not originate any loans. Loan interest receivable at September 30, 2013 and December 31, 2012 was zero, and $727,000 net of impairment of zero and $947,000, respectively. As of September 30, 2013, there were no loans on the balance sheet.
The allowance for interest receivable represents interest that is not expected to be collected. At the time the interest income was recognized and at the end of the reporting period in which the interest income was recognized, the interest income was believed to be collectible. The Company continually reassessed whether interest income was collectible in conjunction with its loan impairment analysis. The allowance for interest receivable represents interest that was determined to be uncollectible during a reporting period subsequent to the initial recognition of the interest income. During the nine months ended September 30, 2013 and 2012, 1 and 79 loans were paid off with proceeds of lender protection insurance totaling approximately $117,000 and $24.0 million respectively, of which approximately $93,000, and $15.6 million was for principal of the loans, and approximately $40,000, and $6.0 million was for accrued interest, respectively, and accreted origination fees of approximately $39,000, and $6.6 million, respectively. The company had an impairment associated with these loans of approximately $56,000, and $4.6 million, respectively. We recognized a gain of zero and a loss of $14,000 on these transactions, respectively. Also during the nine months ended on September 30, 2013, we had 1 loan payoff totaling approximately $574,000 of which $560,000 was for the principal of the loan and approximately $196,000 was for accrued interest and zero accreted origination. The Company had an impairment associated with this loan of approximately $250,000. We recognized a gain of approximately $65,000 on this transaction.
Our premium finance borrowers were generally referred to us through independent insurance agents and brokers although, prior to January 2009, we originated some premium finance loans that were sold by life insurance agents that we employed. In certain of these instances, the life insurance agents employed by the Company worked with external brokers and agents to obtain insurance for policyholders with the Company extending a premium finance loan to a borrower. We refer to these instances as the “retail non-seminar business,” which began in December 2006 and was discontinued in January 2009. In total, the Company originated 114 premium finance loans as part of the retail non-seminar business. As of September 30, 2013, the Company had 41 policies in its portfolio that once served as collateral for premium finance loans derived through the retail non-seminar business.

Origination_Fees

Origination Fees	9 Months Ended
	Sep. 30, 2013
Origination Fees	'
	(10) Origination Fees
	The Company had no loans receivable at September 30, 2013. A summary of the balances of origination fees that are included in loans receivable in the consolidated balance sheet as December 31, 2012 is as follows (in thousands):
		December 31,
		2012
	Loan origination fees gross	$	1,334
	Un-accreted origination fees		(190	)
	Amortized loan originations costs		13
		$	1,157
	Loan origination fees are fees payable to the Company on the date of loan maturity or repayment. Loan origination costs are deferred costs that are directly related to the creation of the loan receivable.

StockBased_Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2013
Stock-Based Compensation	'
	(11) Stock-Based Compensation
	In connection with the Company’s initial public offering, the Company established the Imperial Holdings 2011 Omnibus Incentive Plan (the “Omnibus Plan”). The purpose of the Omnibus Plan is to attract, retain and motivate participating employees and to attract and retain well-qualified individuals to serve as members of the board of directors, consultants and advisors through the use of incentives based upon the value of our common stock. Awards under the Omnibus Plan may consist of incentive awards, stock options, stock appreciation rights, performance shares, performance units, and shares of common stock, restricted stock, restricted stock units or other stock-based awards as determined by the compensation committee. The Omnibus Plan provides that an aggregate of 1,200,000 shares of common stock are reserved for issuance under the Omnibus Plan, subject to adjustment as provided in the Omnibus Plan. During the nine months ended September 30, 2013 the Company issued 545,000 options to employees at a strike price of $6.94. The Company recognized approximately $118,000 and $105,000 in stock-based compensation expense relating to stock options it granted under the Omnibus Plan during the three months ended September 30, 2013 and 2012, respectively and $1.1 million and $201,000 during the nine months ended September 30, 2013 and 2012, respectively. The Company incurred additional stock-based compensation expense of approximately $30,000 and zero during the three months ended September 30, 2013 and 2012, respectively, relating to restricted stock granted to its board of directors and $39,000 and $4,000 during the nine months ended September 30, 2013 and 2012, respectively. On April 1, 2013, the Company granted 13,759 shares of unrestricted common stock to its outside directors with an aggregate grant date fair value of approximately $57,000 computed in accordance with ASC 718, Compensation-Stock Compensation.
	Options
	As of September 30, 2013 options to purchase 899,472 shares of common stock were outstanding and unexercised under the Omnibus Plan at a weighted average exercise price of $8.57 per share. The outstanding options issued in 2011 expire seven years after the date of grant and were granted with a strike price of $10.75 which was the offering price of our initial public offering or fair market value (closing price) of the stock on the date of grant and vest over three years. The outstanding options issued during the nine months ended September 30, 2013, will expire seven years after the date of grant and were granted with strike price of $6.94 which was the fair market value (closing price) of the stock on the day preceding the date of grant and vest over two years.
	The Company has used the Black-Scholes model to calculate fair values of options awarded. This model requires assumptions as to expected volatility, dividends, terms, and risk free rates. Assumptions used for the periods covered herein, are outlined in the table below:
		Nine
		Months Ended
		September 30,
		2013
	Expected Volatility	65.47
	Expected Dividend	0%
	Expected Term in Years	4.25
	Risk Free Rate	0.48% - 1.01%
	The Company commenced its initial public offering of common stock in February 2011. Accordingly, there was no public market for the Company’s common stock prior to this date. Therefore, the Company identified comparable public entities and used the average volatility of those entities to reasonably estimate its expected volatility. The Company does not expect to pay dividends on its common stock for the foreseeable future. Expected term is the period of time over which the options granted are expected to remain outstanding and is based on the simplified method as outlined in the SEC Staff Accounting Bulletin 110. The Company will continue to estimate expected lives based on the simplified method until reliable historical data becomes available. The risk free rate is based on the U.S Treasury yield curve in effect at the time of grant for the appropriate life of each option.
	The following table presents the activity of the Company’s outstanding stock options for the nine months ended September 30, 2013:
	Common Stock Options	Number of			Weighted		Weighted
		Shares			Average Price		Average
					per Share		Remaining
							Contractual
							Term
	Options outstanding, January 1, 2013		487,314		$	10.75		—
	Options granted		545,000		$	6.94		6.68
	Options exercised		—		$	—		—
	Options forfeited		(2,541	)	$	10.75		—
	Options expired		(130,301	)	$	9.86		—
	Options outstanding, September 30, 2013		899,472		$	8.57		5.69
	Exercisable at September 30, 2013		470,954		$	9.28		5.26
	Unvested at September 30, 2013		428,518		$	7.79		6.17
	As of September 30, 2013, all outstanding stock options had an exercise price above the fair market value of the common stock on that date.
	The remaining unamortized amounts of approximately $212,000, $604,000, and $247,000 will be expensed during 2013, 2014, and 2015, respectively.
	Restricted Stock
	As of September 30, 2013, 17,286 shares of restricted stock granted to our directors under the Omnibus Plan was outstanding subject to one year vesting schedule commencing on the date of grant. The fair value of the unvested restricted stock was valued at $120,138 based on the closing price of the Company’s shares on the grant date.
	The following table presents the activity of the Company’s unvested restricted stock common shares for the nine months ended September 30, 2013:
	Common Unvested Shares	Number of Shares
	Outstanding December 31, 2012		—
	Granted		17,286
	Vested		—
	Forfeited		—
	Outstanding September 30, 2013		17,286
	The aggregate intrinsic value of these awards is $109,000 and the remaining weighted average life of these awards is .68 years as of September 30, 2013.

Structured_Settlements

Structured Settlements	9 Months Ended
	Sep. 30, 2013
Structured Settlements	'
	(12) Structured Settlements
	The balances of the Company’s structured settlements are as follows (in thousands):
		September 30,		December 31,
		2013		2012
	Structured settlements - at cost	$	1,186	$	1,574
	Structured settlements - at fair value		1,784		1,680
	Structured settlements receivable, net	$	2,970	$	3,254
	All structured settlements that were acquired subsequent to July 1, 2010 were marked to fair value. Structured settlements that were acquired prior to July 1, 2010 were recorded at cost. During 2011, the Company reacquired certain structured settlements that were originally acquired prior to July 1, 2010 and the Company continued to carry those structured settlements at cost upon reacquisition.
	Certain financing arrangements for the Company’s structured settlements are described below.
	Life-Contingent Structured Settlement Facility
	On December 30, 2011, Washington Square Financial, LLC (“WSF”) entered into a forward purchase and sale agreement (“PSA”) to sell up to $40.0 million of life contingent structured settlement receivables to Compass Settlements LLC (“Compass”). On May 21, 2013, Washington Square Financial, LLC and Compass Settlements, LLC executed an Amended and Restated Purchase and Sale Agreement. Subject to predetermined eligibility criteria and on-going funding conditions, Compass committed, in increments of $10.0 million, up to $45.0 million to purchase life-contingent structured settlement receivables from WSF. The PSA obligates WSF to sell the life-contingent structured settlement receivables it originates to Compass on an exclusive basis for twelve months following the amendment date, subject to Compass maintaining certain purchase commitment levels. Additionally, the Company has agreed to guaranty WSF’s obligation to repurchase any ineligible receivables sold under the PSA and certain other related obligations.
	For the nine months ended September 30, 2013 and 2012, respectively, the Company sold 107 and 311 structured settlements under this facility, respectively, 5 and 107 of which were originated in 2012 and 2011, respectively, generating income of approximately $72,000 and $1.1 million, respectively, which was recorded as an unrealized change in fair value of structured settlements in 2012 and 2011, respectively. The Company originated and sold 102 and 204 structured settlement transactions under this facility generating income of approximately $1.4 million and $1.8 million, respectively, recorded as gain on sale of structured settlements during the nine months ended September 30, 2013 and 2012, respectively.
	The Company also realized income of approximately $353,000 and $718,000 that was recorded as an unrealized change in fair value during the nine months ended September 30, 2013 and 2012, respectively, on structured settlements that are intended for sale to Compass. As of September 30, 2013, the Company had available commitments under this facility of $7.2 million.
	8.39% Fixed Rate Asset Backed Variable Funding Notes
	Imperial Settlements Financing 2010, LLC (“ISF 2010”) was formed as an affiliate of the Company to serve as a special purpose financing entity to allow the Company to sell structured settlements and assignable annuities, which are referred to as receivables, to ISF 2010 and ISF 2010 to borrow against certain of its receivables to provide ISF 2010 liquidity. ISF 2010 is a non-consolidated special purpose financing entity. On September 24, 2010, ISF 2010 entered into an arrangement to obtain up to $50 million in financing. Under this arrangement, a subsidiary of Partner Re, Ltd. (the “noteholder”) became the initial holder of ISF 2010’s 8.39% Fixed Rate Asset Backed Variable Funding Note issued under a master trust indenture and related indenture supplement (collectively, the “Indenture”) pursuant to which the noteholder has committed to advance ISF 2010 up to $50 million upon the terms and conditions set forth in the Indenture. The note is secured by the receivables that ISF 2010 acquires from the Company from time to time. The note is due and payable on or before January 1, 2057, but principal and interest must be repaid pursuant to a schedule of fixed payments from the receivables that secure the notes. The arrangement generally has a concentration limit of 15% for the providers of the receivables that secure the notes. Wilmington Trust is the collateral trustee. As of September 30, 2013 and December 31, 2012, the balance of the notes outstanding on the special purpose financing entity’s books was $46.1 million and $43.2 million, respectively.
	Upon the occurrence of certain events of default under the Indenture, all amounts due under the note are automatically accelerated. The Company’s maximum exposure related to ISF 2010 is limited to 5% of the dollar value of the ISF 2010 transactions, which is held back by ISF 2010 at the time of sale, and is designed to absorb potential losses in collecting the receivables. The obligations of ISF 2010 are non-recourse to the Company. The total funds held back by ISF 2010 as of September 30, 2013 and December 31, 2012 were approximately $2.4 million and $2.2 million and are included in investment in affiliate in the accompanying consolidated balance sheet.
	During the nine months ended September 30, 2013 and 2012, the Company sold 76 and 500 term certain structured settlements, respectively. Of the 76 structured settlements sold during the nine months ending September 30, 2013, 2 were originated in 2012 and 1 was originated in 2011 generating income of $11,000 and $2,500, respectively, which was recorded as an unrealized change in fair value of structured settlements in 2012 and 2011, respectively. Of the 500 structured settlements sold during the nine months ended September 30, 2012, 181 were originated in 2011 generating income of approximately $3.2 million, which was recorded as an unrealized change in fair value of structured settlements in 2011. The Company originated and sold 73 and 319 term certain structured settlement transactions under this facility generating income of approximately $757,000 and $4.2 million, respectively, which was recorded as a realized gain on sale of structured settlements during the nine months ended September 30, 2013 and 2012, respectively. The Company also realized income of approximately $217,000 and $548,000 that was recorded as an unrealized change in fair value during the nine months ended September 30, 2013 and 2012, respectively, on structured settlements that are intended for sale to ISF 2010. The Company receives 95% of the purchase price in cash from ISF 2010. Of the remaining 5%, which represents the Company’s interest in ISF 2010, 1% is required to be contributed to a cash reserve account held by Wilmington Trust.
	When the transfer of the receivables occurs, the Company records the transaction as a sale and derecognizes the asset from its balance sheet. In determining whether the Company is the primary beneficiary of the trust, the Company concluded that it does not control the servicing, which is the activity which most significantly impacts the trust performance. An independent third party is the master servicer and they can only be replaced by the control partner, which is the entity that holds the majority of the outstanding notes. The Company is a back-up servicer, which is insignificant to ISF 2010 performance.
	Washington Square Financial 3rd Party Sales
	For the nine months ended September 30, 2013 and 2012, respectively, in addition to its intended sales to Compass and ISF 2010, the Company also sold 256 and 169 structured settlement deals to unrelated parties for $11.7 million and $2.5 million, respectively, generating income of $6.5 million and $1.8 million, respectively, recorded as a gain on sale of structured settlements and $158,000 and $134,000 that was previously recorded as an unrealized change in fair value in 2012 and 2011, respectively.
	For the nine months ended September 30, 2013 and 2012, respectively, the Company recorded income of approximately $586,000 and $188,000, respectively, that was recorded as unrealized change in fair value on structured settlements that are intended for sale to other parties.
	Total income recognized through accretion of interest income on structured settlement transactions for the nine months ended September 30, 2013 and 2012, respectively, was approximately $247,000 and $243,000, respectively. For the nine months ended September 30, 2013, $192,000 of accretion income, related to structured settlement receivables held at cost, was recognized in interest income and $55,000 related to structured settlement receivables held at fair value, was recognized as unrealized change in fair value in the accompanying consolidated statement of operations.
	The receivables at September 30, 2013 and December 31, 2012 were approximately $3.0 million and $3.3 million, respectively, net of a discount of approximately $5.6 million and $4.6 million, respectively.

Investment_in_Life_Settlements

Investment in Life Settlements (Life Insurance Policies)	9 Months Ended
	Sep. 30, 2013
Investment in Life Settlements (Life Insurance Policies)	'
	(13) Investment in Life Settlements (Life Insurance Policies)
	The Company accounts for policies it acquires using the fair value method in accordance with ASC 325-30-50 Investments — Other — Investment in Insurance Contracts. Under the fair value method, the Company recognizes the initial investment at the purchase price. For policies that were relinquished in satisfaction of premium finance loans at maturity, the initial investment is the loan carrying value and for policies purchased in the secondary or tertiary markets, the initial investment is the amount of cash outlay at the time of purchase. At each reporting period, the Company re-measures the investment at fair value in its entirety and recognizes changes in fair value in earnings in the period in which the changes occur. See Note 15.
	As of September 30, 2013 and December 31, 2012, the Company owned 622 and 214 policies, respectively, with an aggregate estimated fair value of investments in life settlements of $292.4 million and $113.4 million, respectively.
	The weighted average life expectancy calculated based on death benefit of insureds in the policies owned by the Company at September 30, 2013 was 11.9 years. The following table describes the Company’s investments in life settlements as of September 30, 2013 (dollars in thousands):
	Remaining Life Expectancy (In Years)	Number of		Fair		Face
		Life Settlement		Value		Value
		Contracts
	0 - 1		—	$	—	$	—
	2-Jan		—		—		—
	3-Feb		5		6,939		13,750
	4-Mar		8		9,423		27,100
	5-Apr		6		11,315		27,550
	Thereafter		603		264,706		2,930,640
	Total		622	$	292,383	$	2,999,040
	The weighted average life expectancy calculated based on death benefit of insureds in the policies owned by the Company at December 31, 2012 was 10.6 years. The following table describes the Company’s investment in life settlements as of December 31, 2012 (dollars in thousands):
	Remaining Life Expectancy (In Years)	Number of		Fair		Face
		Life Settlement		Value		Value
		Contracts
	0 - 1		—	$	—	$	—
	2-Jan		—		—		—
	3-Feb		1		1,222		2,500
	4-Mar		4		3,319		11,450
	5-Apr		7		11,375		30,950
	Thereafter		202		97,525		1,028,256
	Total		214	$	113,441	$	1,073,156
	Premiums to be paid during each of the five succeeding fiscal years and thereafter to keep the life insurance policies in force as of September 30, 2013, are as follows (in thousands):
	Remainder of 2013	$	24,208
	2014		53,809
	2015		52,638
	2016		56,422
	2017		63,318
	Thereafter		1,203,362
		$	1,453,757
	The $1.45 billion noted above represents the estimated total future premium payments required to keep the life insurance policies in force during the life expectancies of all the underlying insured lives and does not give effect to projected receipt of death benefits. The estimated total future premium payments could increase or decrease significantly to the extent that actual mortalities of insureds differs from the estimated life expectancies.

Note_Payable

Note Payable	9 Months Ended
	Sep. 30, 2013
Note Payable	'
	(14) Note Payable
	Revolving Credit Facility
	Effective April 29, 2013, White Eagle entered into a 15-year revolving credit agreement (the “Revolving Credit Facility”) with LNV Corporation, as initial lender, Imperial Finance & Trading, LLC, as servicer and portfolio manager and CLMG Corp., as administrative agent (the “Agent”).
	General & Security. The Revolving Credit Facility provides for an asset-based revolving credit facility backed by White Eagle’s portfolio of life insurance policies with an initial aggregate lender commitment of up to $300.0 million, subject to borrowing base availability. 458 life insurance policies with an aggregate death benefit of approximately $2.3 billion and an estimated fair value of approximately $242.3 million have been pledged as collateral under the Revolving Credit Facility at September 30, 2013. In addition, the Company’s equity interests in White Eagle have been pledged under the Revolving Credit Facility.
	Borrowing Base. Borrowing availability under the Revolving Credit Facility is subject to a borrowing base, which at any time is equal to the lesser of (A) the sum of all of the following amounts that have been funded or are to be funded through the next distribution date (i) the initial advance and all additional advances to acquire additional pledged policies or that are not for ongoing maintenance advances, plus (ii) 100% of the sum of the ongoing maintenance costs, plus (iii) 100% of accrued and unpaid interest on borrowings (excluding the rate floor portion described below), plus (iv) 100% of any other fees and expenses funded and to be funded as approved by the required lenders, less (v) any required payments of principal and interest previously distributed and to be distributed through the next distribution date; (B) 75% of the valuation of the policies pledged as collateral as determined by the lenders; (C) 50% of the aggregate face amount of the policies pledged as collateral (excluding certain specified life insurance policies); and (D) the then applicable facility limit.
	Amortization & Distributions. Proceeds from the policies pledged as collateral under the Revolving Credit Facility will be distributed pursuant to a waterfall. Absent an event of default, after premium payments and fees to service providers, 100% of the remaining proceeds will be directed to pay outstanding interest and principal on the loan, unless the lenders determine otherwise. Generally, after payment of interest and principal, collections from policy proceeds are to be paid to White Eagle up to $76.1 million, then 50% of the remaining proceeds are to be directed to the lenders with the remainder paid to White Eagle and for any unpaid fees to service providers. With respect to approximately 25% of the face amount of policies pledged as collateral under the Revolving Credit Facility, White Eagle has agreed that if policy proceeds that are otherwise due are not paid by an insurance carrier, the foregoing distributions will be altered such that the lenders will receive any “catch-up” payments in respect of amounts that they would have received in the waterfall prior to distributions being made to White Eagle. During the continuance of events of default or unmatured events of default, the amounts from collections of policy proceeds that might otherwise be paid to White Eagle will instead be held in a designated account controlled by the lenders and may be applied to fund operating and third party expenses, interest and principal, “catch-up” payments or percentage payments that would go to the lenders as described above.
	Use of Proceeds. Generally, ongoing advances may be made for paying premiums on the life insurance policies pledged as collateral, to pay debt service (other than a “rate floor” component equal to the greater of LIBOR (or the applicable base rate) and 1.5%), and to pay the fees of service providers. Subsequent advances in respect of newly pledged policies are at the discretion of the lenders and the use of proceeds from those advances are at the discretion of the lenders.
	Interest. Borrowings under the Revolving Credit Facility bear interest at a rate equal to LIBOR or, if LIBOR is unavailable, the base rate, in each case plus an applicable margin of 4.00% and subject to the rate floor described above. The base rate under the Revolving Credit Facility equals the sum of (i) the weighted average of the interest rates on overnight federal funds transactions or, if unavailable, the average of three federal funds quotations received by the Agent plus 0.75% and (ii) 0.5%. The effective rate at September 30, 2013 is 5.5%.
	The Company’s policy is to record interest expense for the cash portion of interest paid during the period. Accrued interest is reflected as a component of the fair market value of the note payable.
	Maturity. The term of the Revolving Credit Facility expires April 28, 2028, which is also the scheduled commitment termination date (though the lenders’ commitments to fund borrowings may terminate earlier in an event of default). The lenders’ interests in and rights to a portion of the proceeds of the policies does not terminate with the repayment of the principal borrowed and interest accrued thereon, the termination of the Revolving Credit Facility or expiration of the lenders’ commitments.
	Covenants/Events of Defaults. The Revolving Credit Facility contains covenants and events of default that are customary for asset-based credit agreements of this type, but also include cross defaults under the servicing, account control, contribution and pledge agreements entered into in connection with the Revolving Credit Facility (including in relation to breached by third parties thereunder), changes in control of or insolvency or bankruptcy of the Company and relevant subsidiaries and performance of certain obligations by certain relevant subsidiaries, White Eagle and third parties. The Revolving Credit Facility does not contain any financial covenants, but does contain certain tests relating to asset maintenance, performance and valuation the satisfaction of which will be determined by the lenders with a high degree of discretion.
	Remedies. The Revolving Credit Facility and ancillary transaction documents afford the lenders a high degree of discretion in their selection of and implementation of remedies in relation to any event of default, including a high degree of discretion in determining whether to foreclose upon and liquidate all or any pledged policies, the Company’s interests in White Eagle, and the manner of any such liquidation. White Eagle has limited ability to cure events of default through the sale of policies or the procurement of replacement financing.
	We have elected to account for this note payable, which includes the 50% interest in policy proceeds to the lender, using the fair value method. The fair value of the debt is the amount the Company would have to pay to transfer the debt to a market participant in an orderly transaction. We calculated the fair value of the debt using a discounted cash flow model taking into account the stated interest rate of the credit facility and probabilistic cash flows from the pledged policies. Considerable judgment is required in interpreting market data to develop the estimates of fair value. Accordingly, our estimates are not necessarily indicative of the amounts that we, or holders of the instruments, could realize in a current market exchange. The most significant assumptions are the estimates of life expectancy of the insured and the discount rate. The use of different assumptions and/or estimation methodologies could have a material effect on the estimated fair values.
	At September 30, 2013, the fair value of the debt is $114.8 million. See Note 15 — Fair Value Measurements. As of September 30, 2013, the borrowing base was approximately $121.1 million including $120.1 million in outstanding principal.
	There are no scheduled repayments of principal and interest. Payments are due upon receipt of death benefits and distributed pursuant to the waterfall as described above.

Fair_Value_Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2013
Fair Value Measurements	'
	(15) Fair Value Measurements
	We carry investments in life settlements, certain structured settlements, and our note payable at fair value in the consolidated balance sheets. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. Fair value measurements are classified based on the following fair value hierarchy:
	Level 1 — Valuation is based on unadjusted quoted prices in active markets for identical assets and liabilities that are accessible at the reporting date. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment.
	Level 2 — Valuation is determined from pricing inputs that are other than quoted prices in active markets that are either directly or indirectly observable as of the reporting date. Observable inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and interest rates and yield curves that are observable at commonly quoted intervals.
	Level 3 — Valuation is based on inputs that are both significant to the fair value measurement and unobservable. Level 3 inputs include situations where there is little, if any, market activity for the financial instrument. The inputs into the determination of fair value generally require significant management judgment or estimation.
	Assets and liabilities measured at fair value on a recurring basis
	The balances of the Company’s assets measured at fair value on a recurring basis as of September 30, 2013, are as follows (in thousands):
			Level 1				Level 2				Level 3			Total
														Fair Value
	Assets:
	Investment in life settlements		$	—			$	—			$	292,383		$	292,383
	Structured settlement receivables			—				—				1,784			1,784
			$	—			$	—			$	294,167		$	294,167
	The balances of the Company’s liabilities measured at fair value on a recurring basis as of September 30, 2013, are as follows (in thousands):
			Level 1				Level 2				Level 3			Total
														Fair Value
	Liabilities:
	Note Payable		$	—			$	—			$	114,784		$	114,784
			$	—			$	—			$	114,784		$	114,784
	The balances of the Company’s assets measured at fair value on a recurring basis as of December 31, 2012, are as follows (in thousands):
			Level 1				Level 2				Level 3			Fair Value
	Assets:
	Investment in life settlements		$	—			$	—			$	113,441		$	113,441
	Structured settlement receivables			—				—				1,680			1,680
	Investment securities available for sale			—				12,147				—			12,147
			$	—			$	12,147			$	115,121		$	127,268
	The Company values its investment in life settlement portfolio in two classes, non-premium financed and premium financed. In considering the categories, it is generally believed that market participants would require a lower risk premium for policies that were not premium financed, while a higher risk premium would be required for policies that were premium financed.
	($ in thousands)		Quantitative Information about Level 3 Fair Value Measurements
			Fair Value				Aggregate				Valuation Technique (s)		Unobservable Input	Range
			at 9/30/13				death benefit							(Weighted Average)
							9/30/13
	Non-premium financed		$	39,346			$	206,450			Discounted cash flow		Discount rate	13.72% - 20.72%
													Life expectancy evaluation	(9.2 years)
	Premium financed		$	253,037			$	2,792,590			Discounted cash flow		Discount rate	15.72% - 28.72%
													Life expectancy evaluation	(12.1 years)
	Investment in life settlements		$	292,383			$	2,999,040			Discounted cash flow		Discount rate	-19.63%
													Life expectancy evaluation	(11.9 years)
	Structured settlements receivables		$	1,784				N/A			Discounted cash flow		Facility sales discount rates	5.95% -12.80%
													Discount rate	23.66%
	Note payable		$	114,784				N/A			Discounted cash flow		Life expectancy evaluation	(11.4 years)
	*	Actual
	Following is a description of the methodologies used to estimate the fair values of assets and liabilities measured at fair value on a recurring basis and within the fair value hierarchy.
	Investment in life settlements — The Company has elected to account for the life settlement policies it acquires using the fair value method. Due to the inactive market for life settlements, the Company uses a present value technique to estimate the fair value of our investments in life settlements, which is a Level 3 fair value measurement as the significant inputs are unobservable and require significant management judgment or estimation. The Company currently uses a probabilistic method of valuing life insurance policies, which we believe to be the preferred valuation method in the industry. The most significant assumptions are the estimates of life expectancy of the insured and the discount rate.
	In determining the life expectancy estimate, we analyze medical reviews from independent secondary market life expectancy providers (each a “LE provider”). An LE provider reviews the medical records and identifies all medical conditions it feels are relevant to the life expectancy of the insured. Debits and credits are then assigned by each LE provider to the individual’s health based on identified medical conditions. The debit or credit that an LE provider assigns to a medical condition is derived from the experience of mortality attributed to this condition in the portfolio of lives that the LE provider monitors. The health of the insured is summarized by the LE provider into a life assessment of the individual’s life expectancy expressed both in terms of months and in mortality factor.
	The resulting mortality factor represents an indication as to the degree to which the given life can be considered more or less impaired than a standard life having similar characteristics (e.g. gender, age, smoking, etc.). For example, a standard insured (the average life for the given mortality table) would carry a mortality rating of 100%. A similar but impaired life bearing a mortality rating of 200% would be considered to have twice the chance of dying earlier than the standard life. The probability of mortality for an insured is then calculated by applying the blended life expectancy estimate to a mortality table. The mortality table is created based on the rates of death among groups categorized by gender, age, and smoking status. By measuring how many deaths occur during each year, the table allows for a calculation of the probability of death in a given year for each category of insured people. The probability of mortality for an insured is found by applying the mortality rating from the life expectancy assessment to the probability found in the actuarial table for the insured’s age, sex and smoking status. The Company has historically applied an actuarial table developed by a third party. However, beginning in the quarter ended September 30, 2012, the Company transitioned to a table developed by the U.S. Society of Actuaries known as the 2008 Valuation Basic Table, or the 2008 VBT. However, because the 2008 VBT table does not account for anticipated improvements in mortality in the insured population, the table was modified by outside consultants to reflect these expected mortality improvements. The Company believes that the change in mortality table does not materially impact the valuation of its life insurance policies and that its adoption of a modified 2008 VBT table is consistent with modified tables used by market participants and third party medical underwriters.
	The mortality rating is used to create a series of best estimate probabilistic cash flows. This probability represents a mathematical curve known as a mortality curve. This curve is then used to generate a series of expected cash flows over the remaining expected lifespan of the insured and the corresponding policy. A discounted present value calculation is then used to determine the value of the policy. If the insured dies earlier than expected, the return will be higher than if the insured dies when expected or later than expected.
	The calculation allows for the possibility that if the insured dies earlier than expected, the premiums needed to keep the policy in force will not have to be paid. Conversely, the calculation also considers the possibility that if the insured lives longer than expected, more premium payments will be necessary. Based on these considerations, each possible outcome is assigned a probability and the range of possible outcomes is then used to create a value for the policy.
	Historically, the Company has procured the majority of its life expectancy reports from two life expectancy report providers and only used AVS Underwriting LLC (“AVS”) life expectancy reports for valuation purposes. Beginning in the quarter ended September 30, 2012, the Company began utilizing life expectancy reports from 21st Services, LLC (“21st Services”) for valuation purposes and began averaging or “blending,” the results of the two life expectancy reports to establish a composite mortality factor.
	On January 22, 2013, 21st Services announced revisions to its underwriting methodology and on February 4, 2013, announced that it was correcting errors discovered in its previously announced revised methodology. According to 21st Services, these revisions have generally been understood to lengthen the average reported life expectancy furnished by this life expectancy provider by 19%. To account for the impact of the revisions and based off of market responses to the methodology change, the Company initially lengthened the life expectancies furnished by 21st Services by 13% prior to blending them with the life expectancy reports furnished by AVS. Since that time, the Company has received a significant amount of life expectancy reports from 21st Services that utilize its revised methodology and has, based on the results of those reports, lengthened the life expectancies on the remaining policies in its portfolio.
	As of September 30, 2013, the Company received 175 updated life expectancy reports from 21st Services that utilize its revised methodology. These life expectancies reported an average lengthening of life expectancies of 15.43% and, based on this sample, for the nine months ended September 30, 2013, the Company increased the life expectancies furnished by 21st Services by 15.43% on the rest of its portfolio of life settlements prior to blending them with the life expectancy reports furnished by AVS. The Company expects to continue to lengthen life expectancies furnished by 21st Services that have not been re-underwritten using their updated methodology. Since the Revolving Credit Facility necessitates that the Company procure updated life expectancies on a periodic basis, the amount of policies that are lengthened by the Company in this manner will decrease over time and the fair value calculations in future periods will, accordingly, reflect the actual impact of the revised 21st Services methodology on a policy by policy basis as updated life expectancy reports are procured.
	Life expectancy sensitivity analysis
	As is the case with most market participants, the Company uses a blend of life expectancies that are provided by two third-party LE providers. These are estimates of an insured’s remaining years. If all of the insured lives in the Company’s life settlement portfolio live six months shorter or longer than the life expectancies provided by these third parties, the change in fair market value as of September 30, 2013 would be as follows (dollars in thousands):
	Life Expectancy Months Adjustment		Value				Change in Value
	6		$	243,272			$	(49,111	)
	-		$	292,383				—
	-6		$	345,639			$	53,256
	Discount rate
	The discount rate incorporates current information about market interest rates, the credit exposure to the insurance company that issued the life insurance policy and our estimate of the risk premium an investor in the policy would require.
	Historically, the Company used a 15% — 17% range of discount rates to value its life insurance policies. In the third quarter of 2011 and in the immediate aftermath of becoming aware of the USAO investigation, the Company substantially increased the discount rates utilized in its fair value model as it believed that the USAO Investigation along with certain unfavorable court decisions unrelated to the Company contributed to a contraction in the marketplace. Since that time, the Company has been re-evaluating its discount rates at the end of every reporting period in order to reflect the estimated discount rates that could reasonably be used in a market transaction involving the Company’s portfolio of life insurance policies. In doing so, the Company relies on management insight, engages third party consultants to corroborate its assessment, engages in discussions with other market participants and potential financing sources and extrapolates the discount rate underlying actual sales of policies.
	Although the Company believes that its entry into the Non-Prosecution Agreement had a positive effect on the market generally and for premium financed life insurance policies specifically, the Company believes that, when given the choice to invest in a policy that was associated with the Company’s premium finance business and a similar policy without such an association, all else being equal, an investor would have generally opted to invest in the policy that was not associated with the Company’s premium finance business. However, since entering into the Non-Prosecution Agreement, investors have required less of a risk premium to transact in these policies and the Company expects that, in time, investors will continue to require less of a risk premium to transact in policies associated with its premium finance business.
	Credit exposure of insurance company
	The Company considers the financial standing of the issuer of each life insurance policy. Typically, we seek to hold policies issued by insurance companies that are rated investment grade by S&P. At September 30, 2013, the Company had nineteen life insurance policies issued by one carrier that was rated non-investment grade by S&P as of that date. In order to compensate a market participant for the perceived credit and challenge risks associated with these policies, the Company applied an additional 300 basis point risk premium.
	Estimated risk premium
As of September 30, 2013, the Company owned 622 policies with an aggregate investment in life settlements of $292.4 million. Of these 622 policies, 579 were previously premium financed and are valued using discount rates that range from 15.72% to 28.72%. The remaining 43 policies which are non-premium financed are valued using discount rates that range from 13.72% to 20.72%. As of September 30, 2013, the weighted average discount rate calculated based on death benefit used in valuing the policies in our life settlement portfolio was 19.63%.
Market interest rate sensitivity analysis
The discount rate incorporates current information about market interest rates, the credit exposure to the insurance company that issued the life insurance policy and our estimate of the risk premium an investor in the policy would require. The extent to which the fair value could vary in the near term has been quantified by evaluating the effect of changes in the weighted average discount rate on the death benefit used to estimate the fair value. If the weighted average discount rate were increased or decreased by 1/2 of 1% and the other assumptions used to estimate fair value remained the same, the change in fair market value as of September 30, 2013 would be as follows (dollars in thousands):
Weighted Average Rate Calculated Based on
Death Benefit		Rate Adjustment		Value				Change in Value
19.13%		-0.50%		$	301,376			$	8,993
19.63%		—		$	292,383			$	—
20.13%		0.50%		$	283,790			$	(8,593	)
Future changes in the discount rates we use to value life insurance policies could have a material effect on our yield on life settlement transactions, which could have a material adverse effect on our business, financial condition and results of our operations.
At the end of each reporting period we re-value the life insurance policies using our valuation model in order to update our estimate of fair value of investments in policies held on our balance sheet. This includes reviewing our assumptions for discount rates and life expectancies, as well as incorporating current information for premium payments and the passage of time.
Structured settlement receivables — All structured settlements that were acquired subsequent to July 1, 2010 were marked to fair value. Structured settlements that were acquired prior to July 1, 2010 were recorded at cost. We make this election because it is our intention to sell these assets within the next twelve months. Structured settlements are purchased at effective yields, which are fixed. Purchase discounts are accreted into interest income using the effective-interest method for those structured settlements marked to fair value. As of September 30, 2013, the Company had 45 structured settlements with an estimated fair value of $1.8 million and an average sales discount rate of 8.71%.
Note payable — Effective April 29, 2013, White Eagle, a subsidiary of the Company, entered into a 15-year Revolving Credit Facility with LNV Corporation, as initial lender, Imperial Finance & Trading, LLC, as servicer and portfolio manager and CLMG Corp., as administrative agent. 458 policies have been pledged by White Eagle as collateral for its obligations under the facility. Absent an event of default under the Revolving Credit Facility, ongoing borrowings will be used to pay the premiums on these policies and certain approved third party expenses. Proceeds from the policies pledged as collateral will be distributed pursuant to a waterfall. After premium payments and fees to service providers, 100% of the remaining proceeds will be directed to pay outstanding principal and interest on the loan. Generally, after payment of principal and interest, collections from policy proceeds are to be paid to White Eagle up to $76.1 million, then 50% of the remaining proceeds are to be directed to the lenders with the remainder paid to White Eagle. We have elected to account for this note payable, which includes the lender’s interest in policy proceeds, using the fair value method. The fair value of the debt is the amount the Company would have to pay to transfer the debt to a market participant in an orderly transaction. We calculated the fair value of the debt using a discounted cash flow model taking into account the stated interest rate of the Revolving Credit Facility and probabilistic cash flows from the pledged policies. Accordingly, our estimates are not necessarily indicative of the amounts that we, or holders of the instruments, could realize in a current market exchange. The most significant assumptions are the estimates of life expectancy of the insured and the discount rate. The use of different assumptions and/or estimation methodologies could have a material effect on the estimated fair values.
Life expectancy sensitivity analysis of note payable
A considerable portion of the fair value of the Company’s note payable derives from the timing of receipt of future policy proceeds. Should life expectancies lengthen such that policy proceeds are collected further into the future, the fair value of this debt will decline. Conversely, should life expectancies shorten, the fair value of this debt will increase. Considerable judgment is required in interpreting market data to develop the estimates of fair value.
As is the case with most market participants, the Company uses a blend of life expectancies that are provided by two third-party LE providers. These are estimates of an insured’s remaining years. If all of the insured lives underlying the policies pledged by White Eagle as collateral under the Revolving Credit Facility live six months shorter or longer than the life expectancies provided by these third parties, the change in fair market value would be as follows (dollars in thousands):
Life Expectancy Months Adjustment		Fair Value of				Change in Value
		Note Payable
6		$	99,650			$	(15,134	)
-		$	114,784				—
-6		$	134,500			$	19,716
Discount rate of note payable
The discount rate incorporates current information about market interest rates, credit exposure to insurance companies and our estimate of the return a lender lending against the policies would require.
Market interest rate sensitivity analysis of note payable
Discount Rate		Rate Adjustment				Fair Value of				Change in Value
						Note Payable
23.16%			-0.5	%		$	117,391			$	2,607
23.66%			—			$	114,784			$	—
24.16%			0.5	%		$	112,272			$	(2,512	)
Future changes in the discount rates could have a material effect on the fair value our note payable, which could have a material adverse effect on our business, financial condition and results of our operations.
At September 30, 2013, the fair value of the debt is $114.8 million. The outstanding principal is approximately $120.1 million as of September 30, 2013.
Changes in Fair Value
The following tables provide a roll-forward in the changes in fair value for the nine months ended September 30, 2013, for all assets for which the Company determines fair value using a material level of unobservable (Level 3) inputs (in thousands):
Life Settlements:
Balance, December 31, 2012		$	113,441
Purchase of policies			55,500
Acquired in foreclosure			3,168
Change in fair value			81,948
Matured/lapsed/sold policies			(12,658	)
Premiums paid			50,984
Transfers into level 3			—
Transfer out of level 3			—
Balance, September 30, 2013		$	292,383
Changes in fair value included in earnings for the period relating to assets held at September 30, 2013		$	74,655
The Company recorded change in fair value gains of approximately $15.3 million and losses of approximately $17.5 million during the three months ended September 30, 2013 and 2012, respectively, and a change in fair value gains of approximately $81.9 million and losses of approximately $8.4 million for the nine months ended September 30, 2013 and 2012, respectively.
Structured Settlements:
Balance, December 31, 2012		$	1,680
Purchase of contracts			13,547
Unrealized change in fair value			1,211
Sale of contracts			(14,584	)
Collections			(70	)
Transfers into level 3			—
Transfer out of level 3			—
Balance, September 30, 2013		$	1,784
Changes in fair value included in earnings for the period relating to assets held at September 30, 2013		$	467
The following tables provide a roll-forward in the changes in fair value for the nine months ended September 30, 2013, for all liabilities for which the Company determines fair value using a material level of unobservable (Level 3) inputs (in thousands):
Note payable:
Balance, December 31, 2012		$	—
Initial Advance under the revolving credit facility			83,020
Subsequent Draws under the revolving credit facility			37,059
Unrealized change in fair value			(5,295	)
Transfers into level 3			—
Transfer out of level 3			—
Balance, September 30, 2013		$	114,784
Changes in fair value included in earnings for the period relating to assets held at September 30, 2013		$	(5,295	)
The following tables provide a roll-forward in the changes in fair value for the nine months ended September 30, 2012, for all assets for which the Company determines fair value using a material level of unobservable (Level 3) inputs (in thousands).
Life Settlements:
Balance, December 31, 2011		$	90,917
Purchase of policies			130
Acquired in foreclosure			5,050
Change in fair value			(8,401	)
Sale of policies			(5,334	)
Transfers into level 3			—
Transfer out of level 3			—
Premiums paid			20,106
Policies laspes/written off			(140	)
Balance, September 30, 2012			102,328
Changes in fair value included in earnings for the period relating to assets held at September 30, 2012		$	(8,638	)
Structured Settlements:
Balance, December 31, 2011		$	12,376
Purchase of contracts			17,115
Unrealized change in fair value			1,587
Sale of contracts			(28,396	)
Collections			(186	)
Transfers into level 3			—
Transfer out of level 3			—
Balance, September 30, 2012		$	2,496
Changes in fair value included in earnings for the period relating to assets held at September 30, 2012		$	429
There were no transfers of financial assets between levels of the fair value hierarchy during the nine months ended September 30, 2013 and 2012.

Segment_Information

Segment Information	9 Months Ended
	Sep. 30, 2013
Segment Information	'
	(16) Segment Information
	The Company operates in two segments: life finance and structured settlements. Prior to the fourth quarter of 2011, the life finance segment provided financing in the form of loans to trusts and individuals for the payment of premiums of life insurance policies. Beginning in 2011, in this segment, the Company also acquired life insurance policies through purchases in the secondary and tertiary markets. The structured settlements segment purchases structured settlements from individuals.
	Recipients of structured settlements are permitted to sell their deferred payment streams to a structured settlement purchaser pursuant to state statutes that require certain disclosures, notice to the obligors and state court approval. Through such sales, the Company purchases a certain number of fixed, scheduled future settlement payments on a discounted basis in exchange for a single lump sum payment.
	The performance of the segments is evaluated by members of the Company’s senior management team. Cash and income taxes generally are managed centrally. Performance of the segments is based on revenue and cost control.
	Segment results and reconciliation to consolidated net income (loss) were as follows (in thousands):
		For the Three Months Ended						For the Nine Months Ended
		September 30,						September 30,
		2013			2012			2013			2012
		(Unaudited)						(Unaudited)
	Life finance
	Income
	Interest income	$	(3	)	$	180		$	26		$	1,613
	Origination income		—			45			—			483
	Change in fair value of life settlements		15,262			(17,530	)		81,948			(8,401	)
	(Loss) gain on life settlements, net		(461	)		(140	)		(1,708	)		151
	Servicing fee income		—			271			—			955
	Gain on maturities of life settlements with subrogation rights, net		—			—			310			6,090
	Other		6			16			2,003			175
			14,804			(17,158	)		82,579			1,066
	Direct segment expenses
	Interest expense		1,155			140			12,010			1,215
	Change in fair value of note payable		66			—			(5,295	)		—
	Loss on extinguishment of debt		—			—			3,991			—
	Provision for losses on loan receivables		—			—			—			441
	(Gain) loss on loans payoffs and settlements, net		—			(139	)		(65	)		14
	Amortization of deferred costs		—			255			7			1,752
	Personnel costs		839			1,099			3,518			4,663
	Legal fees		2,296			1,116			3,655			2,622
	Professional fees		801			315			1,769			1,180
	Insurance		96			313			409			806
	Other selling, general and administrative expenses		269			443			1,067			1,205
			5,522			3,542			21,066			13,898
	Segment operating income (loss)	$	9,282		$	(20,700	)	$	61,513		$	(12,832	)
	Structured settlements
	Income
	Realized gain on sale of structured settlements	$	2,102		$	2,187		$	8,772		$	7,796
	Interest income		60			72			192			243
	Unrealized change in fair value of structured settlements		430			409			1,211			1,587
	Other income		105			101			191			354
			2,697			2,769			10,366			9,980
	Direct segment expenses
	Personnel costs		2,107			2,443			5,767			7,033
	Marketing costs		461			1,034			1,889			4,481
	Legal fees		379			527			1,346			1,671
	Professional fees		300			615			979			1,527
	Insurance		96			313			402			799
	Other selling, general and administrative expenses		520			328			1,385			1,362
			3,863			5,260			11,768			16,873
	Segment operating loss	$	(1,166	)	$	(2,491	)	$	(1,402	)	$	(6,893	)
	Consolidated
	Segment operating income		8,116			(23,191	)		60,111			(19,725	)
	Unallocated income
	Interest and dividends on investment securities available for sale		5			—			16			332
	Other income		—			78			13			637
			5			78			29			969
	Unallocated expenses
	Interest expense		4			—			11			3
	Personnel costs		237			53			883			621
	Legal fees		847			7,685			7,262			18,625
	Professional fees		554			629			1,627			2,565
	Insurance		286			—			664			107
	Other selling, general and administrative expenses		32			—			102			340
			1,960			8,367			10,549			22,261
Income (loss) before income taxes		6,161			(31,480	)		49,591			(41,017	)
Benefit (provision) for income taxes		—			5			(40	)		46
Net income (loss)	$	6,161		$	(31,475	)	$	49,551		$	(40,971	)
Segment assets and reconciliation to consolidated total assets were as follows (in thousands):
	September 30,			December 31,
	2013			2012
Direct segment assets
Life finance	$	299,839		$	123,581
Structured settlements		7,744			6,862
		307,583			130,443
Other unallocated assets		22,564			29,899
	$	330,147		$	160,342
Amounts are attributed to the segment that holds the assets. There are no intercompany sales and all intercompany account balances are eliminated in segment reporting.

Commitments_and_Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2013
Commitments and Contingencies	'
	(17) Commitments and Contingencies
	In accordance with applicable accounting guidance, the Company establishes an accrued liability for litigation and regulatory matters when those matters present loss contingencies that are both probable and estimable. In such cases, there may be an exposure to loss in excess of any amounts accrued. When a loss contingency is not both probable and estimable, the Company does not establish an accrued liability. As a litigation or regulatory matter develops, the Company, in conjunction with any outside counsel handling the matter, evaluates on an ongoing basis whether such matter presents a loss contingency that is probable and estimable. If, at the time of evaluation, the loss contingency related to a litigation or regulatory matter is not both probable and estimable, the matter will continue to be monitored for further developments that would make such loss contingency both probable and estimable. Once the loss contingency related to a litigation or regulatory matter is deemed to be both probable and estimable, the Company will establish an accrued liability with respect to such loss contingency and record a corresponding amount of litigation-related expense. The Company continues to monitor the matter for further developments that could affect the amount of the accrued liability that has been previously established. USAO litigation-related fees of $4.6 million and $12.8 million were recognized for the nine months ended September 30, 2013 and 2012, respectively.
	Employment Agreements
	In connection with our initial public offering, we entered into employment agreements with certain of our executive officers. The agreement for our chief executive officer provides for substantial payments in the event that the executive terminates his employment with us due to a material change in the geographic location where such officer performs his duties or upon a material diminution of his base salary or responsibilities, with or without cause. For our chief executive officer, payments are equal to three times the sum of base salary and the average of the three years’ annual cash bonus, unless the triggering event occurs during the first three years of his employment agreement, in which case the payments are equal to six times base salary. For our chief executive officer, the agreement provides for bonus incentives based on pre-tax income thresholds.
	On April 26, 2012, the Company entered into a Separation Agreement and General Release of Claims (the “Separation Agreement”) with its former chief operating officer, Jonathan Neuman. As part of the Separation Agreement, Mr. Neuman resigned as a member of the Company’s board of directors and as an employee of Company. Pursuant to the Separation Agreement, the Company paid Mr. Neuman a separation payment of $1.4 million. The Separation Agreement does not include a covenant by Mr. Neuman to refrain from competing with Imperial, but does contain customary non-disparagement and non-solicitation provisions. The Separation Agreement provides releases by each party and also obligates the Company to continue to indemnify Mr. Neuman for his legal expenses substantially in the same manner contemplated by his employment agreement with the Company. These indemnification expenses amounted to $2.3 million and $2.0 million for the nine months ended September 30, 2013 and 2012, respectively.
	On February 15, 2012, the Company entered into a retention arrangement with its Chief Financial Officer and Chief Credit Officer, Richard O’Connell, Jr. The arrangement provides that, in the event Mr. O’Connell’s employment is terminated without cause or Mr. O’Connell terminates his employment with the Company for good reason, in each case, prior to December 31, 2013, Mr. O’Connell will be entitled to 24 months’ base salary in addition to any accrued benefits. Additionally, unless Mr. O’Connell’s employment is terminated for cause, Mr. O’Connell will be entitled to a minimum bonus of $250,000 for each of 2012 and 2013, subject to the Company’s Board of Directors’ right to terminate the bonus payment in respect of 2013 prior to January 1, 2013. Except for the provisions relating to severance and other termination benefits, the terms of Mr. O’Connell’s Employment and Severance Agreement entered into with the Company as of November 4, 2010 remain in effect during the term of the retention arrangement and the provisions of the employment agreement relating to severance and other termination benefits will again be in effect following any termination of the retention arrangement if Mr. O’Connell is then employed by the Company.
	During the first quarter of 2012, the Company also entered into severance and retention award agreements with certain of its executive officers (other than the CEO and CFO). The agreements provide for a minimum guaranteed bonus in each of 2012 and 2013 as well as severance payments equal to two years base salary in the event of termination by the Company without Cause (as defined in the respective agreement) provided the executive executes a general release of claims against the Company.
	We do not have any general policies regarding the use of employment agreements, but may, from time to time, enter into such a written agreement to reflect the terms and conditions of employment of a particular named executive officer, whether at the time of hire or thereafter.
	Repurchase Obligations
	The subsidiaries of the Company that conveyed policies to White Eagle have undertaken in their contribution agreements to repurchase policies in relation to material breaches of their representations, warranties and covenants concerning such policies. Any such repurchase will be at a price that the lenders under the Revolving Credit Facility determine is the greater of the fair market value thereof or the aggregate amount of maintenance costs and other borrowed amounts allocated to such policy by the lenders with interest on such borrowed amounts at 12% per annum.
	Class Action Litigation, Derivative Demands and the Insurance Coverage Declaratory Relief Complaint
	The Class Action Litigation
	Initially on September 29, 2011, the Company, and certain of its officers and directors were named as defendants in a putative securities class action filed in the Circuit Court of the 15th Judicial Circuit in and for Palm Beach County, Florida, entitled Martin J. Fuller v. Imperial Holdings, Inc. et al. Also named as defendants were the underwriters of the Company’s initial public offering. That complaint asserted claims under Sections 11, 12 and 15 of the Securities Act of 1933, as amended, alleging that the Company should have, but failed to disclose in the registration statement for its initial public offering purported wrongful conduct relating to its life finance business that gave rise to the USAO Investigation. On October 21, 2011, an amended complaint was filed that asserts claims under Sections 11, 12 and 15 of the Securities Act of 1933, based on similar allegations. On October 25, 2011, defendants removed the case to the United States District Court for the Southern District of Florida.
	On October 31, 2011, another putative class action case was filed in the Circuit Court of the 15th Judicial Circuit in and for Palm Beach County, Florida, entitled City of Roseville Employees Retirement System v. Imperial Holdings, et al, naming the same defendants and also bringing claims under Sections 11, 12 and 15 of the Securities Act based on similar allegations. On November 28, 2011, defendants removed the case to the United States District Court for the Southern District of Florida. The plaintiffs in the Fuller and City of Roseville cases moved to remand their cases back to state court. Those motions were fully briefed and argued.
	On November 18, 2011, a putative class action case was filed in the United States District Court for the Southern District of Florida, entitled Sauer v. Imperial Holdings, Inc., et al, naming the same defendants and bringing claims under Sections 11 and 15 of the Securities Act of 1933 based on similar allegations.
	On December 14, 2011, another putative class action case filed in the United States District Court for the Southern District of Florida, entitled Pondick v. Imperial Holdings, Inc., et al, naming the same defendants and bringing claims under Sections 11, 12, and 15 of the Securities Act of 1933 based on similar allegations.
	On February 24, 2012, the four putative class actions were consolidated and designated: Fuller v. Imperial Holdings et al. in the United States District Court for the Southern District of Florida, and lead plaintiffs were appointed.
	In addition, the underwriters of the Company’s initial public offering asserted that the Company is required by its Underwriting Agreement to indemnify the underwriters’ expenses and potential liabilities in connection with the litigation.
	The Insurance Coverage Declaratory Relief Complaint
	On June 13, 2012, Catlin Insurance Company (UK) Ltd. (“Catlin”) filed a declaratory relief action against the Company in the United States District Court for the Southern District of Florida. The complaint seeks a determination that there is no coverage under Catlin’s primary Directors, Officers and Company Liability Policy (the “Policy”) issued to the Company for the period February 3, 2011 to February 3, 2012, based on a prior and pending litigation exclusion (the “Exclusion”). Catlin also seeks a determination that it is entitled to reimbursement of the approximately $800,000 in defense costs and fees advanced to the Company in the first quarter of 2012 under the Policy if it is determined that the Exclusion precludes coverage. As of the filing of this Quarterly Report on Form 10-Q, the Company has not yet been served with the complaint.
	Derivative Demands
	On November 16, 2011, the Company’s Board of Directors received a shareholder derivative demand from Harry Rothenberg (the “Rothenberg Demand”), which was referred to the special committee for a thorough investigation of the issues, occurrences and facts relating to, connected to, and arising from the USAO Investigation referenced in the Rothenberg Demand. On May 8, 2012, the Company’s Board of Directors received a derivative demand made by another shareholder, Robert Andrzejczyk (the “Andrzejczyk Demand”). The Andrzejczyk Demand, like the Rothenberg Demand was referred to the special committee, which determined that it did not contain any allegations that differed materially from those alleged in the Rothenberg Demand. On July 20, 2012, the Company (as nominal defendant) and certain of the Company’s officers, directors, and a former director were named as defendants in a shareholder derivative action filed in the Circuit Court of the 15th Judicial Circuit in and for Palm Beach County, Florida, entitled Robert Andrzejczyk v. Imperial Holdings, Inc. et al. The complaint alleges, among other things, that the Special Committee’s refusal of the Andrzejczyk Demand was improper.
	The Settlement
	On December 18, 2012, attorneys for the Company, the plaintiffs in the actions discussed above, certain individual defendants, the underwriters in the Company’s initial public offering and the Company’s director and officer liability insurance carriers (“D&O Carriers”) signed a Term Sheet for Global Settlement Regarding Imperial Holdings, Inc. Matters (the “Term Sheet”) setting forth the terms upon which each of the parties to the matters would be willing to settle the class action litigation and derivative actions as well as the declaratory relief action filed by Catlin, respectively.
	On July 29, 2013, the parties to the Term Sheet executed definitive settlement agreements in respect of the class action litigation, derivative action and insurance coverage declaratory relief complaint. The class action litigation and derivative action settlements are subject to court approval and all of the settlements are contingent on effectiveness of the other settlements. On August 6, 2013, the United States District Court for the Southern District of Florida entered an order preliminarily approving the class action settlements and setting a settlement hearing for December 16, 2013. On August 13, 2013, the Circuit Court of the 15th Judicial Circuit in and for Palm Beach County, Florida entered an order preliminarily approving the derivative action settlement and setting a final fairness hearing for December 17, 2013. Final court approval of the Securities Class Action and Derivative Action settlements could be delayed by appeals or other proceedings.
	The terms of the class action settlement include a cash payment of $12.0 million, of which $11.0 million is to be contributed by the Company’s primary and excess D&O Carriers and the issuance of two million warrants for shares of the Company’s stock with an estimated fair value of $3.1 million at the date of the signing of the Term Sheet. The value of the warrants were reassessed during the nine months ended September 30, 2013 and resulted in an increase in fair value of $2.5 million. The estimated fair value at September 30, 2013 was $5.6 million. The warrants will have a five-year term with an exercise price of $10.75 and will be issued on or about when the settlement proceeds are distributed to the claimants. In addition, the underwriters in the Company’s initial public offering are to waive their rights to indemnity and contribution by the Company. The Company recorded a reserve at September 30, 2013 related to the proposed settlement of $17.6 million, which is included in other liabilities and cash received as insurance recoverable from the Company’s D&O Carrier of $11.0 million, which is included in restricted cash. $4.1 million net effect of the proposed settlement is included in legal fees in the statement of operations for the year ended December 31, 2012 and an additional $2.5 million is included in the nine month period ended September 30, 2013.
	The derivative action settlement requires implementation of certain compliance reforms and contemplates payment by the Company’s primary D&O carrier of $1.5 million for legal fees in respect of the derivative actions and the contribution of 125,628 shares of the Company’s stock. During the quarter ended September 30, 2013, $1.5 million was received from the Company’s D&O Carrier and is included in restricted cash.
	In addition, the settlements contemplate that the Company will contribute $500,000 to a trust to cover certain claims under its director and officer liability insurance policies. This amount was deposited into the trust during the quarter ended September 30, 2013.
	The Company established a reserve related to the proposed derivative settlement of $2.0 million which is included in other liabilities and cash received as insurance recoverable from the Company’s D&O Carrier of $1.5 million, which is included in restricted cash. During the quarter ended September 30, 2013, the Company deposited $500,000 for the insurance trust which was previously reserved during the year ended December 31, 2012. The net effect of the settlement of $1.0 miliion is included in legal fees in the statement of operations for the year ended December 31, 2012.
	The settlements also require Imperial to advance legal fees to and indemnify certain individuals covered under the policies. The obligation to advance and indemnify on behalf of these individuals, while currently unquantifiable, may be substantial and could have a material adverse effect on the Company’s financial position and results of operations.
	SEC Investigation
	On February 17, 2012, the Company first received a subpoena issued by the staff of the SEC seeking documents from 2007 through the date of the subpoena, generally related to the Company’s premium finance business and corresponding financial reporting. The SEC is investigating whether any violations of federal securities laws have occurred and the Company has been cooperating with the SEC regarding this matter. The Company is unable to predict what action, if any, might be taken in the future by the SEC or its staff as a result of the investigation or what impact, if any, the cost of responding to the SEC might have on the Company’s financial position, results of operations, or cash flows. The Company has not established any provision for losses in respect of this matter.
	Sun Life
	On April 18, 2013, Sun Life Assurance Company of Canada (“Sun Life”) filed a complaint against the Company and several of its affiliates in the United States District Court for the Southern District of Florida, entitled Sun Life Assurance Company of Canada v. Imperial Holdings, Inc., et al. (“Sun Life Case”). The complaint seeks to contest the validity of at least twenty-nine (29) policies issued by Sun Life. The complaint also asserts the following claims: (1) violations of the federal Racketeer Influenced and Corrupt Organizations Act, (2) common law fraud, (3) civil conspiracy, (4) tortious interference with contractual obligations, and (5) an equitable accounting. In response to a motion to dismiss filed by the Company, Sun Life filed an amended complaint on June 13, 2013. The Company believes that the amended complaint is without merit and filed another motion to dismiss on July 8, 2013. Sun Life responded to the second motion to dismiss on August 1, 2013 and the Company filed its reply on August 19, 2013. The Company intends to defend itself vigorously. No reserve has been established for this litigation.
	On July 29, 2013, the Company filed a complaint against Sun Life in United States District Court for the Southern District of Florida, entitled Imperial Premium Finance, LLC (“IPF”) v. Sun Life Assurance Company of Canada (“IPF Case”). The complaint asserts claims against Sun Life for breach of contract, breach of the covenant of good faith and fair dealing, and fraud, and seeks a judgment declaring that Sun Life is obligated to comply with the promises made by it in certain insurance policies. The complaint also seeks compensatory damages of no less than $30 million in addition to an award of punitive damages. On August 23, 2013, Sun Life moved to dismiss the complaint. IPF filed its response on September 9, 2013, and Sun Life filed its reply on September 19, 2013. See Note 20 – Subsequent Events.
	Sanctions Order
	On April 27, 2012, after the conclusion of a jury trial in the matter styled Steven A. Sciaretta, as Trustee of the Barton Cotton Irrevocable Trust a/k/a the Amended and Restated Barton Cotton Irrevocable Trust v. The Lincoln National Life Insurance Company (“Lincoln”) , the defendant, Lincoln, filed a motion seeking sanctions against the Company’s subsidiary, Imperial Premium Finance (“IPF”), a non-party to the litigation, relating to its corporate representative deposition and trial testimony. On May 6, 2013, the Court issued an order sanctioning IPF and ordering it to pay $850,000. On June 4, 2013, IPF filed a Notice of Appeal of the order to the Eleventh Circuit Court of Appeals. The Company recorded a reserve of $850,000 that is included in legal fees for the nine months ended September 30, 2013.
	Litigation
	We are party to various other legal proceedings that arise in the ordinary course of business. We believe that the resolution of these other proceedings will not, based on information currently available to us, have a material adverse effect on our financial position or results of operations.

Stockholders_Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2013
Stockholders' Equity	'
	(18) Stockholders’ Equity
	On February 3, 2011, the Company converted from a Florida limited liability company to a Florida corporation (the “Conversion”) at which time the members of Imperial Holdings, LLC became shareholders of Imperial Holdings, Inc. As a limited liability company, the Company was treated as a partnership for United States federal and state income tax purposes and, as such, the Company was not subject to taxation. For all periods subsequent to such conversion, the Company will be subject to corporate-level United States federal and state income taxes.
	On February 11, 2011, the Company closed its initial public offering of 16,666,667 shares of common stock at $10.75 per share. On February 15, 2011, Imperial Holdings, Inc. sold an additional 935,947 shares of common stock. The sale was in connection with the over-allotment option Imperial Holdings, Inc. granted to its underwriters in connection with Imperial’s initial public offering. As a result, the total initial public offering size was 17,602,614 shares. All shares were sold to the public at a price of $10.75. The Company received net proceeds of approximately $174.2 million after deducting the underwriting discounts and commissions and our offering expenses.

Income_Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2013
Income Taxes	'
	(19) Income Taxes
	Our provision for income taxes is estimated to result in an annual effective tax rate of 0.0% in 2013, except as noted below. The 0.0% effective tax rate is a result of our recording of a valuation allowance for those deferred tax assets that are not expected to be recovered in the future. Due to significant cumulative losses since the Conversion, the uncertainties that resulted from the USAO Investigation, SEC investigation and the class action lawsuits and expectation of taxable losses in the foreseeable future, we may not have sufficient taxable income of the appropriate character in the future to realize any portion of the net deferred tax asset.
	Generally, the amount of tax expense or benefit allocated to continuing operations is determined without regard to the tax effects of other categories of income or loss, such as other comprehensive income. However, an exception to the general rule is provided when, in the presence of a valuation allowance against deferred tax assets, there is a pretax loss from continuing operations and pretax income from other categories. In such instances, income from other categories must offset the current loss from operations, the tax benefit of such offset being reflected in continuing operations. For the nine months ended September 30, 2012 we reduced the deferred tax valuation allowance from continuing operations by $41,000 to reflect the future taxable income associated with unrealized gains in accumulated other comprehensive income. As the Company sold all of its remaining investment securities in the first quarter of 2013, this allocation between continuing operations and other comprehensive income was reversed.
	On February 3, 2011, we converted from a Florida limited liability company to a Florida corporation (the “Conversion”). Prior to the Conversion we were treated as a partnership for federal and state income tax purposes. As a partnership our taxable income and losses were attributed to our members, and accordingly, no provision or liability for income taxes was reflected in the accompanying consolidated financial statements for periods prior to the Conversion.
	In February of 2013, the Company was notified by the Internal Revenue Service of its intention to examine the Company’s partnership return for the year ended December 31, 2010. In April of 2013, the Internal Revenue Service notified the Company that it had decided not to proceed with the examination.
	The Company and its subsidiaries are subject to U.S. federal income tax as well as to income tax in Florida and other states in which it operates.
	At September 30, 2013, income taxes payable includes an estimated liability for unrecognized tax benefits of $6.3 million that relate to the Conversion and was charged to paid-in-capital in the first quarter of 2011.

Subsequent_Events

Subsequent Events	9 Months Ended
	Sep. 30, 2013
Subsequent Events	'
	(20) Subsequent Events
	Sun Life
	On October 22, 2013, the court issued an order consolidating the Sun Life Case and IPF Case for all purposes including trial.
	Sale of Structured Settlements Business
	On October 25, 2013, the Company completed the sale of its structured settlements business to Majestic Opco L.L.C for $12.0 million. The Company does not expect to earn significant revenue from its remaining structured settlement assets beyond the fourth quarter of 2013. The Company recognized a gain of $11.3 million on the sale.

Principles_of_Consolidation_an1

Principles of Consolidation and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2013
Use of Estimates	'
	Use of Estimates
	The preparation of these consolidated financial statements, in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates and such differences could be material. Significant estimates made by management include the loan impairment valuation, income taxes, valuation of securities available for sale, valuation of structured settlement receivables, the valuation of investments in life settlements and the valuation of its note payable owing under the Revolving Credit Facility.

Changes_in_Accumulated_Other_C1

Changes in Accumulated Other Comprehensive Loss, Net of Tax (Tables)	9 Months Ended
	Sep. 30, 2013
Changes in Accumulated Other Comprehensive Loss by Component, Net of Tax	'
	The following table presents changes in accumulated other comprehensive loss, net of tax, by component for the nine months ended September 30, 2013 (in thousands):
		Unrealized
		Gains and
		Losses on
		Available-for-
		Sale Securities
	Balance as of December 31, 2012	$	(3	)
	Amounts reclassified from accumulated other comprehensive income		3
	Balance as of September 30, 2013	$	—
Reclassifications Out of Accumulated Other Comprehensive Loss, Net of Tax	'
	Reclassifications out of accumulated other comprehensive loss, net of tax, for the nine months ended September 30, 2013 are as follows (in thousands):
		Amount Reclassified			Affected Line in
		from Accumulated			the Consolidated
		Other Comprehensive			Statement of
		Loss			Operations
	Loss on available for sale securities	$	(22	)	Other Expenses
	Tax effect		25		Provision for Income Tax
	Total amount reclassified from accumulated other comprehensive loss for the nine months ended September 30, 2013	$	3

Consolidation_of_Variable_Inte1

Consolidation of Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2013
Consolidated Assets and Consolidated Liabilities of VIEs	'
	The following table presents the consolidated assets and consolidated liabilities of VIEs for which the Company has concluded that it is the primary beneficiary and which are consolidated in the Company’s consolidated financial statements as of September 30, 2013, as well as non-consolidated VIEs for which the Company has determined it is not the primary beneficiary (in thousands):
		Primary Beneficiary				Not Primary
						Beneficiary
		Consolidated VIEs				Non-consolidated VIEs
		Assets		Liabilities		Total		Maximum Exposure
						Assets		To Loss
	30-Sep-13	$	247,765	$	115,042	$	2,360	$	2,360
	31-Dec-12	$	—	$	—	$	2,212	$	2,212

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2013
Reconciliation of Actual Basic and Diluted Earnings Per Share	'
	The following tables reconcile actual basic and diluted earnings per share for the three months and nine months ended September 30, 2013 and 2012 (in thousands except share and per share data).
			For the Three Months					For the Nine Months
			Ended September 30,					Ended September 30,
			2013		2012			2013		2012
	Basic income (loss) per share:
	Numerator:
	Net income (loss) available to common stockholders		$	6,161	$	(31,475	)	$	49,551	$	(40,971	)
	Denominator:
	Weighted average common shares outstanding			21,219,880		21,206,121			21,215,344		21,205,622
	Basic income (loss) per share		$	0.29	$	(1.48	)	$	2.34	$	(1.93	)
	Diluted income (loss) per share:
	Numerator:
	Net income (loss) available to common stockholders		$	6,161	$	(31,475	)	$	49,551	$	(40,971	)
	Denominator:
	Weighted average common shares outstanding			21,219,880		21,206,121			21,215,344		21,205,622
	Add: Restricted Stock			3,147		—			48		—
	Diluted weighted average shares outstanding			21,223,027		21,206,121			21,215,392		21,205,622
	Diluted income (loss) per share(1)(2)		$	0.29	$	(1.48	)	$	2.34	$	(1.93	)
	-1	The computation of diluted EPS did not include 488,499 outstanding options and 4,240,521 outstanding warrants for the three months and nine months ended September 30, 2012, as the effect of their inclusion would have been anti-dilutive.
	-2	The computation of diluted EPS did not include 899,472 outstanding options and 4,240,521 outstanding warrants for the three months and nine months ended September 30, 2013, as the effect of their inclusion would have been anti-dilutive.

Investment_Securities_Availabl1

Investment Securities Available for Sale (Tables)	9 Months Ended
	Sep. 30, 2013
Amortized Cost and Estimated Fair Values of Securities Available for Sale	'
	The amortized cost and estimated fair values of securities available for sale at December 31, 2012 are as follows (in thousands):
		December 31, 2012
	Description of Securities	Amortized		Gross Unrealized			Gross Unrealized			Estimated
		Cost		Gains			Losses			Fair Value
	Corporate bonds	$	8,275		25		$	(67	)	$	8,233
	Government bonds		3,524		76			—			3,600
	Other bonds		310		4			—			314
	Total available for sale securities	$	12,109	$	105		$	(67	)	$	12,147
Scheduled Maturities of Securities by Contractual Maturity	'
	The scheduled maturities of securities at December 31, 2012, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties (in thousands).
		December 31, 2012
		Amortized Cost		Estimated Fair Value
	Due in one year or less	$	6,172	$	6,197
	Due after one year but less than five years		2,413		2,350
	Due after five years but less than ten years		3,524		3,600
	Total available for sale securities	$	12,109	$	12,147
Securities in Continuous Unrealized Loss Position	'
	Information pertaining to securities with gross unrealized losses at December 31, 2012, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position is as follows (in thousands):
		December 31, 2012
		Less than 12 Months					12 Months or More					Total
	Description of Securities	Estimated		Unrealized			Estimated			Unrealized		Estimated		Unrealized
		Fair Value		Loss			Fair Value			Loss		Fair Value		Loss
	Corporate bonds		1,932		(67	)		—			—		1,932		(67	)
	Government bonds		—		—			—			—		—		—
	Other bonds		—		—			—			—		—		—
	Total available for sale securities	$	1,932	$	(67	)	$	—		$	—	$	1,932	$	(67	)

Loans_Receivable_Tables

Loans Receivable (Tables)	9 Months Ended
	Sep. 30, 2013
Summary of Loans Receivable	'
	A summary of loans receivable at December 31, 2012 is as follows (in thousands):
			December 31,
			2012
	Loan principal balance		$	5,255
	Loan origination fees, net			1,157
	Loan impairment valuation			(3,368	)
	Loans receivable, net		$	3,044
Changes in Loans Receivable Principal Balance	'
	An analysis of the changes in loans receivable principal balance during the three months and nine months ended September 30, 2013 and 2012 is as follows (in thousands):
			For the Three Months Ended						For the Nine Months Ended
			September 30,						September 30,
			2013			2012			2013			2012
	Loan principal balance, beginning		$	364		$	12,935		$	5,255		$	31,264
	Loan payoffs			—			(2,712	)		(652	)		(16,037	)
	Loans transferred to investments in life settlements			(364	)		(2,550	)		(4,603	)		(7,554	)
	Loan principal balance, ending		$	—		$	7,673		$	—		$	7,673
Analysis of Loan Impairment Valuation	'
	An analysis of the loan impairment valuation for the three months ended September 30, 2013 is as follows (in thousands):
			Loans			Interest			Total
			Receivable			Receivable
	Balance at beginning of period		$	248		$	90		$	338
	Charge-offs			(248	)		(90	)		(338	)
	Balance at end of period		$	—		$	—		$	—
	An analysis of the loan impairment valuation for the three months ended September 30, 2012 is as follows (in thousands):
			Loans			Interest			Total
			Receivable			Receivable
	Balance at beginning of period		$	5,517		$	1,309		$	6,826
	Charge-offs			(1,487	)		(252	)		(1,739	)
	Balance at end of period		$	4,030		$	1,057		$	5,087
	An analysis of the loan impairment valuation for the nine months ended September 30, 2013 is as follows (in thousands):
			Loans			Interest			Total
			Receivable			Receivable
	Balance at beginning of period		$	3,368		$	947		$	4,315
	Charge-offs			(3,368	)		(947	)		(4,315	)
	Balance at end of period		$	—		$	—		$	—
	An analysis of the loan impairment valuation for the nine months ended September 30, 2012 is as follows (in thousands):
			Loans			Interest			Total
			Receivable			Receivable
	Balance at beginning of period		$	10,195		$	1,920		$	12,115
	Provision for losses			360			81			441
	Charge-offs			(6,525	)		(944	)		(7,469	)
	Balance at end of period		$	4,030		$	1,057		$	5,087
Analysis of Allowance for Loan Losses and Recorded Investment in Loans by Loan Type	'
	An analysis of the allowance for loan losses and recorded investment in loans by loan type for the nine months ended September 30, 2013 is as follows (in thousands):
			Uninsured			Insured			Total
			Loans			Loans(1)
	Loan impairment valuation
	Balance at beginning of period		$	2,692		$	676		$	3,368
	Charge-offs			(2,692	)		(676	)		(3,368	)
	Ending balance		$	—		$	—		$	—
	Ending balance: individually evaluated for impairment		$	—		$	—		$	—
	-1	As a result of the entry into the Termination Agreement on April 30, 2013, the LPIC Provider is no longer obligated to pay claims on loans that were not insured.
	An analysis of the allowance for loan losses and recorded investment in loans by loan type for the nine months ended September 30, 2012 is as follows (in thousands):
			Uninsured			Insured			Total
			Loans			Loans
	Loan impairment valuation
	Balance at beginning of period		$	7,103		$	3,092		$	10,195
	Provision for loan losses			—			360			360
	Charge-offs			(3,687	)		(2,838	)		(6,525	)
	Ending balance		$	3,416		$	614		$	4,030
	Ending balance: individually evaluated for impairment		$	3,416		$	614		$	4,030
Analysis of Credit Ratings	'
	An analysis of the credit quality indicators by loan type at December 31, 2012 is presented in the following table (dollars in thousands):
			Uninsured						Insured(1)
	S&P Designation		Unpaid			Percent			Unpaid			Percent
			Principal						Principal
			Balance						Balance
	AAA		$	—			0	%	$	—			0	%
	AA+			—			0	%		—			0	%
	AA			—			0	%		—			0	%
	AA-			2,072			43.58	%		408			81.44	%
	A+			2,548			53.97	%		93			18.56	%
	A1			—			0	%		—			0	%
	A			—			0	%		—			0	%
	BB-			134			2.45	%		—			0	%
	Total		$	4,754			100	%	$	501			100	%
	-1	All of the Company’s insured loans had lender protection coverage with Lexington Insurance Company. As of December 31, 2012, Lexington had a financial strength rating of “A” with a stable outlook by Standard & Poors (S&P). As a result of the entry into the Termination Agreement on April 30, 2013, the LPIC Provider was released from its obligation to pay claims on loans that were insured.
Summary of Investment in Impaired Loans	'
	A summary of our investment in impaired loans at December 31, 2012 is as follows (in thousands):
			December 31,
			2012
	Loan receivable, net		$	3,011
	Interest receivable, net			724
	Investment in impaired loans		$	3,735
Impaired Loans With and Without Related Allowance	'
	An analysis of impaired loans with and without a related allowance at December 31, 2012 is presented in the following table by loan type (in thousands):
			Recorded			Unpaid			Related			Average			Interest
			Investment			Principal			Allowance			Recorded			Income
						Balance						Investment			Recognized
	With no related allowance recorded:
	Uninsured Loans		$	—		$	—		$	—		$	—		$	—
	Insured Loans			—			—			—			—			—
	With an allowance recorded:
	Uninsured Loans			3,623			4,735			3,413			6,887			1,444
	Insured Loans			112			501			902			7,091			227
	Total Impaired Loans		$	3,735		$	5,236		$	4,315		$	13,978		$	1,671
Analysis of Past Due Loans	'
	The Company had no loans at September 30, 2013. An analysis of past due loans at December 31, 2012 is presented in the following table by loan type (in thousands):
			30-59 Days			60-89 Days			Greater Than			Total
			Past Due			Past Due			90 Days			Past Due
									Past Due
	Uninsured Loans		$	—		$	—		$	599		$	599
	Insured Loans			—			—			315			315
	Total		$	—		$	—		$	914		$	914

Origination_Fees_Tables

Origination Fees (Tables)	9 Months Ended
	Sep. 30, 2013
Summary of Balance of Origination Fees	'
	The Company had no loans receivable at September 30, 2013. A summary of the balances of origination fees that are included in loans receivable in the consolidated balance sheet as December 31, 2012 is as follows (in thousands):
		December 31,
		2012
	Loan origination fees gross	$	1,334
	Un-accreted origination fees		(190	)
	Amortized loan originations costs		13
		$	1,157

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2013
Assumptions Used at the Date of Grant for Stock Based Compensation	'
	Assumptions used for the periods covered herein, are outlined in the table below:
		Nine
		Months Ended
		September 30,
		2013
	Expected Volatility	65.47
	Expected Dividend	0%
	Expected Term in Years	4.25
	Risk Free Rate	0.48% - 1.01%
Common Stock Option Activity	'
	The following table presents the activity of the Company’s outstanding stock options for the nine months ended September 30, 2013:
	Common Stock Options	Number of			Weighted		Weighted
		Shares			Average Price		Average
					per Share		Remaining
							Contractual
							Term
	Options outstanding, January 1, 2013		487,314		$	10.75		—
	Options granted		545,000		$	6.94		6.68
	Options exercised		—		$	—		—
	Options forfeited		(2,541	)	$	10.75		—
	Options expired		(130,301	)	$	9.86		—
	Options outstanding, September 30, 2013		899,472		$	8.57		5.69
	Exercisable at September 30, 2013		470,954		$	9.28		5.26
	Unvested at September 30, 2013		428,518		$	7.79		6.17
Activity of Unvested Restricted Common Shares	'
	The following table presents the activity of the Company’s unvested restricted stock common shares for the nine months ended September 30, 2013:
	Common Unvested Shares	Number of Shares
	Outstanding December 31, 2012		—
	Granted		17,286
	Vested		—
	Forfeited		—
	Outstanding September 30, 2013		17,286

Structured_Settlements_Tables

Structured Settlements (Tables)	9 Months Ended
	Sep. 30, 2013
Balances of Structured Settlements	'
	The balances of the Company’s structured settlements are as follows (in thousands):
		September 30,		December 31,
		2013		2012
	Structured settlements - at cost	$	1,186	$	1,574
	Structured settlements - at fair value		1,784		1,680
	Structured settlements receivable, net	$	2,970	$	3,254

Investment_in_Life_Settlements1

Investment in Life Settlements (Life Insurance Policies) (Tables)	9 Months Ended
	Sep. 30, 2013
Investment in Life Settlements	'
	The following table describes the Company’s investments in life settlements as of September 30, 2013 (dollars in thousands):
	Remaining Life Expectancy (In Years)	Number of		Fair		Face
		Life Settlement		Value		Value
		Contracts
	0 - 1		—	$	—	$	—
	2-Jan		—		—		—
	3-Feb		5		6,939		13,750
	4-Mar		8		9,423		27,100
	5-Apr		6		11,315		27,550
	Thereafter		603		264,706		2,930,640
	Total		622	$	292,383	$	2,999,040
	The weighted average life expectancy calculated based on death benefit of insureds in the policies owned by the Company at December 31, 2012 was 10.6 years. The following table describes the Company’s investment in life settlements as of December 31, 2012 (dollars in thousands):
	Remaining Life Expectancy (In Years)	Number of		Fair		Face
		Life Settlement		Value		Value
		Contracts
	0 - 1		—	$	—	$	—
	2-Jan		—		—		—
	3-Feb		1		1,222		2,500
	4-Mar		4		3,319		11,450
	5-Apr		7		11,375		30,950
	Thereafter		202		97,525		1,028,256
	Total		214	$	113,441	$	1,073,156
Estimated Premiums To Be Paid	'
	Premiums to be paid during each of the five succeeding fiscal years and thereafter to keep the life insurance policies in force as of September 30, 2013, are as follows (in thousands):
	Remainder of 2013	$	24,208
	2014		53,809
	2015		52,638
	2016		56,422
	2017		63,318
	Thereafter		1,203,362
		$	1,453,757

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2013
Assets Measured at Fair Value on Recurring Basis	'
	The balances of the Company’s assets measured at fair value on a recurring basis as of September 30, 2013, are as follows (in thousands):
			Level 1				Level 2				Level 3			Total
														Fair Value
	Assets:
	Investment in life settlements		$	—			$	—			$	292,383		$	292,383
	Structured settlement receivables			—				—				1,784			1,784
			$	—			$	—			$	294,167		$	294,167
	The balances of the Company’s assets measured at fair value on a recurring basis as of December 31, 2012, are as follows (in thousands):
			Level 1				Level 2				Level 3			Fair Value
	Assets:
	Investment in life settlements		$	—			$	—			$	113,441		$	113,441
	Structured settlement receivables			—				—				1,680			1,680
	Investment securities available for sale			—				12,147				—			12,147
			$	—			$	12,147			$	115,121		$	127,268
Liabilities Measured at Fair Value on Recurring Basis	'
	The balances of the Company’s liabilities measured at fair value on a recurring basis as of September 30, 2013, are as follows (in thousands):
			Level 1				Level 2				Level 3			Total
														Fair Value
	Liabilities:
	Note Payable		$	—			$	—			$	114,784		$	114,784
			$	—			$	—			$	114,784		$	114,784
Quantitative Information about Level 3 Fair Value Measurements	'
	($ in thousands)		Quantitative Information about Level 3 Fair Value Measurements
			Fair Value				Aggregate				Valuation Technique (s)		Unobservable Input	Range
			at 9/30/13				death benefit							(Weighted Average)
							9/30/13
	Non-premium financed		$	39,346			$	206,450			Discounted cash flow		Discount rate	13.72% - 20.72%
													Life expectancy evaluation	(9.2 years)
	Premium financed		$	253,037			$	2,792,590			Discounted cash flow		Discount rate	15.72% - 28.72%
													Life expectancy evaluation	(12.1 years)
	Investment in life settlements		$	292,383			$	2,999,040			Discounted cash flow		Discount rate	-19.63%
													Life expectancy evaluation	(11.9 years)
	Structured settlements receivables		$	1,784				N/A			Discounted cash flow		Facility sales discount rates	5.95% -12.80%
													Discount rate	23.66%
	Note payable		$	114,784				N/A			Discounted cash flow		Life expectancy evaluation	(11.4 years)
	*	Actual
Changes in Fair Value for All Assets Using Material Level of Unobservable (Level 3) Inputs	'
	The following tables provide a roll-forward in the changes in fair value for the nine months ended September 30, 2013, for all assets for which the Company determines fair value using a material level of unobservable (Level 3) inputs (in thousands):
	Life Settlements:
	Balance, December 31, 2012		$	113,441
	Purchase of policies			55,500
	Acquired in foreclosure			3,168
	Change in fair value			81,948
	Matured/lapsed/sold policies			(12,658	)
	Premiums paid			50,984
	Transfers into level 3			—
	Transfer out of level 3			—
	Balance, September 30, 2013		$	292,383
	Changes in fair value included in earnings for the period relating to assets held at September 30, 2013		$	74,655
	The Company recorded change in fair value gains of approximately $15.3 million and losses of approximately $17.5 million during the three months ended September 30, 2013 and 2012, respectively, and a change in fair value gains of approximately $81.9 million and losses of approximately $8.4 million for the nine months ended September 30, 2013 and 2012, respectively.
	Structured Settlements:
	Balance, December 31, 2012		$	1,680
	Purchase of contracts			13,547
	Unrealized change in fair value			1,211
	Sale of contracts			(14,584	)
	Collections			(70	)
	Transfers into level 3			—
	Transfer out of level 3			—
	Balance, September 30, 2013		$	1,784
	Changes in fair value included in earnings for the period relating to assets held at September 30, 2013		$	467
	The following tables provide a roll-forward in the changes in fair value for the nine months ended September 30, 2013, for all liabilities for which the Company determines fair value using a material level of unobservable (Level 3) inputs (in thousands):
	Note payable:
	Balance, December 31, 2012		$	—
	Initial Advance under the revolving credit facility			83,020
	Subsequent Draws under the revolving credit facility			37,059
	Unrealized change in fair value			(5,295	)
	Transfers into level 3			—
	Transfer out of level 3			—
	Balance, September 30, 2013		$	114,784
	Changes in fair value included in earnings for the period relating to assets held at September 30, 2013		$	(5,295	)
	The following tables provide a roll-forward in the changes in fair value for the nine months ended September 30, 2012, for all assets for which the Company determines fair value using a material level of unobservable (Level 3) inputs (in thousands).
	Life Settlements:
	Balance, December 31, 2011		$	90,917
	Purchase of policies			130
	Acquired in foreclosure			5,050
	Change in fair value			(8,401	)
	Sale of policies			(5,334	)
	Transfers into level 3			—
	Transfer out of level 3			—
	Premiums paid			20,106
	Policies laspes/written off			(140	)
	Balance, September 30, 2012			102,328
	Changes in fair value included in earnings for the period relating to assets held at September 30, 2012		$	(8,638	)
	Structured Settlements:
	Balance, December 31, 2011		$	12,376
	Purchase of contracts			17,115
	Unrealized change in fair value			1,587
	Sale of contracts			(28,396	)
	Collections			(186	)
	Transfers into level 3			—
	Transfer out of level 3			—
	Balance, September 30, 2012		$	2,496
	Changes in fair value included in earnings for the period relating to assets held at September 30, 2012		$	429
Market Approach Valuation Technique	'
Market Interest Rate Sensitivity Analysis	'
	If the weighted average discount rate were increased or decreased by 1/2 of 1% and the other assumptions used to estimate fair value remained the same, the change in fair market value as of September 30, 2013 would be as follows (dollars in thousands):
	Weighted Average Rate Calculated Based on
	Death Benefit		Rate Adjustment		Value				Change in Value
	19.13%		-0.50%		$	301,376			$	8,993
	19.63%		—		$	292,383			$	—
	20.13%		0.50%		$	283,790			$	(8,593	)
Long-term debt | Market Approach Valuation Technique	'
Market Interest Rate Sensitivity Analysis	'
	Market interest rate sensitivity analysis of note payable
	Discount Rate		Rate Adjustment				Fair Value of				Change in Value
							Note Payable
	23.16%			-0.5	%		$	117,391			$	2,607
	23.66%			—			$	114,784			$	—
	24.16%			0.5	%		$	112,272			$	(2,512	)
Changes in fair market value, If all of the insured lives in the Company's life settlement portfolio live six months longer than the life expectancies provided by third parties.	'
Life Expectancies	'
	If all of the insured lives in the Company’s life settlement portfolio live six months shorter or longer than the life expectancies provided by these third parties, the change in fair market value as of September 30, 2013 would be as follows (dollars in thousands):
	Life Expectancy Months Adjustment		Value				Change in Value
	6		$	243,272			$	(49,111	)
	-		$	292,383				—
	-6		$	345,639			$	53,256
Changes in fair market value, If all of the insured lives in the Company's life settlement portfolio live six months longer than the life expectancies provided by third parties. | Long-term debt	'
Life Expectancies	'
	If all of the insured lives underlying the policies pledged by White Eagle as collateral under the Revolving Credit Facility live six months shorter or longer than the life expectancies provided by these third parties, the change in fair market value would be as follows (dollars in thousands):
	Life Expectancy Months Adjustment		Fair Value of				Change in Value
			Note Payable
	6		$	99,650			$	(15,134	)
	-		$	114,784				—
	-6		$	134,500			$	19,716

Segment_Information_Tables

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2013
Segment Results and Reconciliation to Consolidated Net Income	'
	Segment results and reconciliation to consolidated net income (loss) were as follows (in thousands):
		For the Three Months Ended						For the Nine Months Ended
		September 30,						September 30,
		2013			2012			2013			2012
		(Unaudited)						(Unaudited)
	Life finance
	Income
	Interest income	$	(3	)	$	180		$	26		$	1,613
	Origination income		—			45			—			483
	Change in fair value of life settlements		15,262			(17,530	)		81,948			(8,401	)
	(Loss) gain on life settlements, net		(461	)		(140	)		(1,708	)		151
	Servicing fee income		—			271			—			955
	Gain on maturities of life settlements with subrogation rights, net		—			—			310			6,090
	Other		6			16			2,003			175
			14,804			(17,158	)		82,579			1,066
	Direct segment expenses
	Interest expense		1,155			140			12,010			1,215
	Change in fair value of note payable		66			—			(5,295	)		—
	Loss on extinguishment of debt		—			—			3,991			—
	Provision for losses on loan receivables		—			—			—			441
	(Gain) loss on loans payoffs and settlements, net		—			(139	)		(65	)		14
	Amortization of deferred costs		—			255			7			1,752
	Personnel costs		839			1,099			3,518			4,663
	Legal fees		2,296			1,116			3,655			2,622
	Professional fees		801			315			1,769			1,180
	Insurance		96			313			409			806
	Other selling, general and administrative expenses		269			443			1,067			1,205
			5,522			3,542			21,066			13,898
	Segment operating income (loss)	$	9,282		$	(20,700	)	$	61,513		$	(12,832	)
	Structured settlements
	Income
	Realized gain on sale of structured settlements	$	2,102		$	2,187		$	8,772		$	7,796
	Interest income		60			72			192			243
	Unrealized change in fair value of structured settlements		430			409			1,211			1,587
	Other income		105			101			191			354
			2,697			2,769			10,366			9,980
	Direct segment expenses
	Personnel costs		2,107			2,443			5,767			7,033
	Marketing costs		461			1,034			1,889			4,481
	Legal fees		379			527			1,346			1,671
	Professional fees		300			615			979			1,527
	Insurance		96			313			402			799
	Other selling, general and administrative expenses		520			328			1,385			1,362
			3,863			5,260			11,768			16,873
	Segment operating loss	$	(1,166	)	$	(2,491	)	$	(1,402	)	$	(6,893	)
	Consolidated
	Segment operating income		8,116			(23,191	)		60,111			(19,725	)
	Unallocated income
	Interest and dividends on investment securities available for sale		5			—			16			332
	Other income		—			78			13			637
			5			78			29			969
	Unallocated expenses
	Interest expense		4			—			11			3
	Personnel costs		237			53			883			621
	Legal fees		847			7,685			7,262			18,625
	Professional fees		554			629			1,627			2,565
	Insurance		286			—			664			107
	Other selling, general and administrative expenses		32			—			102			340
			1,960			8,367			10,549			22,261
	Income (loss) before income taxes		6,161			(31,480	)		49,591			(41,017	)
	Benefit (provision) for income taxes		—			5			(40	)		46
	Net income (loss)	$	6,161		$	(31,475	)	$	49,551		$	(40,971	)
Segment Assets and Reconciliation to Consolidated Assets	'
	Segment assets and reconciliation to consolidated total assets were as follows (in thousands):
		September 30,			December 31,
		2013			2012
	Direct segment assets
	Life finance	$	299,839		$	123,581
	Structured settlements		7,744			6,862
			307,583			130,443
	Other unallocated assets		22,564			29,899
		$	330,147		$	160,342

Description_of_Business_Additi

Description of Business - Additional Information (Detail) (USD $)

1 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

1 Months Ended

9 Months Ended

1 Months Ended

1 Months Ended

1 Months Ended

Feb. 28, 2011

Feb. 15, 2011

Feb. 11, 2011

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2011

Dec. 31, 2012

Apr. 30, 2013

Apr. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Apr. 30, 2013

Sep. 30, 2013

Apr. 29, 2013

Sep. 30, 2013

Apr. 29, 2013

Sep. 30, 2013

Sep. 30, 2013

Apr. 29, 2013

Contract

Segment

Contract

CTL Holdings LLC

Termination Agreement

Termination Agreement

Termination Agreement

Termination Agreement

Termination Agreement

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Contract

CTL Holdings LLC

Life Insurance

Life Insurance

Life Insurance

Securities

White Eagle Asset Portfolio, LLC

Securities Pledged as Collateral

Securities Not Pledged as Collateral

Bridge Facility

Contract

Securities Pledged as Collateral

Contract

Contract

Contract

Organization and Nature of Operations [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of reportable segments

'

'

'

'

'

2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Sale of common stock in initial public offering

17,602,614

935,947

16,666,667

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common stock price per share

$10.75

'

$10.75

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Proceeds from initial public offering

$174,200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of policies

'

'

'

41

'

41

'

'

'

'

'

396

'

'

'

'

'

'

'

'

'

US Government ongoing investigation for criminal conduct

'

'

'

'

'

'

'

8,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Non-Prosecution Agreement terms description

'

'

'

'

'

'

'

'The Non-Prosecution Agreement has a term of three years until April 30, 2015, but after April 30, 2014 the Company may petition the USAO to forego the final year of the Non-Prosecution Agreement, if the Company otherwise complies with all of its obligations under the Non-Prosecution Agreement.

'

'

'

'

'

'

'

'

'

'

'

'

'

Non-Prosecution Agreement terms

'

'

'

'

'

'

'

'3 years

'

'

'

'

'

'

'

'

'

'

'

'

'

Revolving credit facility period

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'15 years

'

'15 years

'

'

'

Revolving credit facility effective date

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

29-Apr-13

'

'

'

Portfolio of life insurance

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

300,000,000

120,100,000

300,000,000

'

'

'

Proceeds from initial advance used to retire a short bridge facility and fund the Release Payment

'

'

'

'

'

3,991,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

45

Percentage of remaining proceeds

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

100.00%

'

50.00%

'

'

'

Proceeds to be paid to White Eagle after payment of loan

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

76,100,000

'

'

'

Life insurance, number of policies

'

'

'

622

'

622

'

'

214

93

'

'

'

323

267

458

'

'

458

164

'

Life insurance policies with aggregate death benefit

'

'

'

2,999,040,000

'

2,999,040,000

'

'

1,073,156,000

340,000,000

'

1,900,000,000

'

'

'

'

'

'

2,300,000,000

716,900,000

'

Life insurance estimated fair value

'

'

'

292,383,000

'

292,383,000

'

'

113,441,000

'

'

153,400,000

'

'

'

'

'

'

242,300,000

'

'

Release Payment

'

'

'

'

'

'

'

'

'

'

48,500,000

'

'

'

'

'

'

'

'

'

'

Life insurance policies with aggregate death benefit as contingent assets

'

'

'

'

'

'

'

'

'

'

'

'

1,600,000,000

'

'

'

'

'

'

'

'

Business acquisition purchase consideration

'

'

'

'

'

'

'

'

'

7,000,000

'

'

'

'

'

'

'

'

'

'

'

Unrealized gain in investment in life settlements

'

'

'

15,262,000

-17,530,000

81,948,000

-8,401,000

'

'

'

'

65,800,000

'

'

'

'

'

'

'

'

'

Number of policies sold

'

'

'

2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Proceeds from sale of policies not pledged as collateral

'

'

'

$1,800,000

'

$1,764,000

$5,626,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Principles_of_Consolidation_an2

Principles of Consolidation and Basis of Presentation - Additional Information (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Apr. 29, 2013	Sep. 30, 2013
In Thousands, unless otherwise specified	Contract	Contract	Revolving Credit Facility	Revolving Credit Facility
			Securities	Securities Pledged as Collateral
				Contract
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]	'	'	'	'
Life insurance, number of policies	622	214	458	458
Life insurance policies with aggregate death benefit	$2,999,040	$1,073,156	'	$2,300,000
Life insurance estimated fair value	$292,383	$113,441	'	$242,300

Changes_in_Accumulated_Other_C2

Changes in Accumulated Other Comprehensive Loss by Component, Net of Tax (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]	'
Beginning balance, unrealized gains and losses on available-for-sale securities	($3)	[1]
Reclassification adjustment for gains included in net income	3
Ending balance, unrealized gains and losses on available-for-sale securities	'
[1]	Derived from audited consolidated financial statements.

Reclassifications_Out_of_Accum

Reclassifications Out of Accumulated Other Comprehensive Loss, Net of Tax (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]	'
Total amount reclassified from accumulated other comprehensive loss for the nine months ended September 30, 2013	$3
Other fees and expense	'
Accumulated Other Comprehensive Income (Loss) [Line Items]	'
Loss on available for sale securities	-22
Provision for Income Taxes	'
Accumulated Other Comprehensive Income (Loss) [Line Items]	'
Tax effect	$25

Consolidated_Assets_and_Consol

Consolidated Assets and Consolidated Liabilities of VIEs (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Primary Beneficiary Variable Interest Entity	'	'
Securitized Loans Held For Investment By Consolidated Variable Interest Entities [Line Items]	'	'
Primary Beneficiary Consolidated VIEs, assets	$247,765	'
Primary Beneficiary Consolidated VIEs, liabilities	115,042	'
Variable Interest Entity, Not Primary Beneficiary	'	'
Securitized Loans Held For Investment By Consolidated Variable Interest Entities [Line Items]	'	'
Not Primary Beneficiary Non-consolidated VIEs, total assets	2,360	2,212
Not Primary Beneficiary Non-consolidated VIEs, Maximum Exposure to Loss	$2,360	$2,212

Consolidation_of_Variable_Inte2

Consolidation of Variable Interest Entities - Additional Information (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012		Dec. 31, 2012	Sep. 30, 2013	Mar. 27, 2013	Mar. 27, 2013	Mar. 27, 2013	Sep. 30, 2013	Dec. 31, 2012
	Contract	Contract		Greenwood Asset Portfolio, LLC	Revolving Credit Facility	Bridge facility	Bridge facility	Bridge facility	ISF 2010	ISF 2010
				Contract	Securities Pledged as Collateral	Greenwood Asset Portfolio, LLC	Greenwood Asset Portfolio, LLC	Greenwood Asset Portfolio, LLC
					Contract		For Nine Months	After Nine Months
Securitized Loans Held For Investment By Consolidated Variable Interest Entities [Line Items]	'	'		'	'	'	'	'	'	'
Number of life insurance policies held	622	214		191	458	'	'	'	'	'
Life insurance estimated fair value	$292,383,000	$113,441,000		$104,600,000	$242,300,000	'	'	'	'	'
Bridge loan amount	'	'		'	'	45,000,000	'	'	'	'
Bridge facility increase in interest rate	'	'		'	'	6.00%	'	'	'	'
Bridge loan, interest rate	'	'		'	'	'Interest under the Bridge Facility accrued at 12% per annum for the first nine months from the issue date, and increases of 600 basis points thereafter to 18% per annum were scheduled.	'	'	'	'
Interest under the facility	'	'		'	'	'	12.00%	18.00%	'	'
Percentage of net proceeds from credit facility that may be used for general corporate purposes	'	'		'	'	25.00%	'	'	'	'
Life insurance policies with aggregate death benefit	2,999,040,000	1,073,156,000		'	2,300,000,000	'	'	'	'	'
Funds held and included in investment in affiliate	$50,113,000	$113,441,000	[1]	'	'	'	'	'	$2,400,000	$2,200,000
[1]	Derived from audited consolidated financial statements.

Gain_on_Maturities_of_Life_Set1

Gain on Maturities of Life Settlements with Subrogation Rights, net - Additional Information (Detail) (USD $)	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2012
Insurance Risks [Line Items]	'
Proceed collected from insurance settlements	$6.10

Reconciliation_of_Actual_Basic

Reconciliation of Actual Basic and Diluted Earnings Per Share (Detail) (USD $)	3 Months Ended				9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013		Sep. 30, 2012		Sep. 30, 2013		Sep. 30, 2012
Numerator:	'		'		'		'
Net income (loss) available to common stockholders	$6,161		($31,475)		$49,551		($40,971)
Denominator:	'		'		'		'
Weighted average common shares outstanding	21,219,880		21,206,121		21,215,344		21,205,622
Basic income (loss) per share	$0.29		($1.48)		$2.34		($1.93)
Numerator:	'		'		'		'
Net income (loss) available to common stockholders	$6,161		($31,475)		$49,551		($40,971)
Denominator:	'		'		'		'
Weighted average common shares outstanding	21,219,880		21,206,121		21,215,344		21,205,622
Add: Restricted Stock	3,147		'		48		'
Diluted weighted average shares outstanding	21,223,027		21,206,121		21,215,392		21,205,622
Diluted income (loss) per share	$0.29	[1],[2]	($1.48)	[1],[2]	$2.34	[1],[2]	($1.93)	[1],[2]
[1]	The computation of diluted EPS did not include 488,499 outstanding options and 4,240,521 outstanding warrants for the three months and nine months ended September 30, 2012, as the effect of their inclusion would have been anti-dilutive.
[2]	The computation of diluted EPS did not include 899,472 outstanding options and 4,240,521 outstanding warrants for the three months and nine months ended September 30, 2013, as the effect of their inclusion would have been anti-dilutive.

Reconciliation_of_Actual_Basic1

Reconciliation of Actual Basic and Diluted Earnings Per Share (Parenthetical) (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Stock Options	'	'	'	'
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]	'	'	'	'
Antidilutive securities excluded from computation of diluted earnings per share	899,472	488,499	899,472	488,499
Warrant	'	'	'	'
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]	'	'	'	'
Antidilutive securities excluded from computation of diluted earnings per share	4,240,521	4,240,521	4,240,521	4,240,521

Investment_Securities_Availabl2

Investment Securities Available for Sale - Additional Information (Detail) (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Schedule of Investments [Line Items]	'	'
Proceeds from sale and prepayments of investment securities available for sale	$12,111,000	$67,915,000
Gross realized gains on investment securities available for sale	22,000	'
Gross unrealized losses on investment securities available for sale	'	$80,000

Amortized_Cost_and_Estimated_F

Amortized Cost and Estimated Fair Values of Securities Available for Sale (Detail) (USD $)	Dec. 31, 2012
In Thousands, unless otherwise specified
Schedule of Available-for-sale Securities [Line Items]	'
Amortized Cost	$12,109
Gross Unrealized Gains	105
Gross Unrealized Losses	-67
Estimated Fair Value	12,147
Corporate Bonds	'
Schedule of Available-for-sale Securities [Line Items]	'
Amortized Cost	8,275
Gross Unrealized Gains	25
Gross Unrealized Losses	-67
Estimated Fair Value	8,233
Government Bonds	'
Schedule of Available-for-sale Securities [Line Items]	'
Amortized Cost	3,524
Gross Unrealized Gains	76
Estimated Fair Value	3,600
Other Bonds	'
Schedule of Available-for-sale Securities [Line Items]	'
Amortized Cost	310
Gross Unrealized Gains	4
Estimated Fair Value	$314

Scheduled_Maturities_of_Securi

Scheduled Maturities of Securities by Contractual Maturity (Detail) (USD $)	Dec. 31, 2012
In Thousands, unless otherwise specified
Available for Sale - Amortized Cost	'
Due in one year or less	$6,172
Due after one year but less than five years	2,413
Due after five years but less than ten years	3,524
Total available for sale securities	12,109
Available for Sale - Fair Value	'
Due in one year or less	6,197
Due after one year but less than five years	2,350
Due after five years but less than ten years	3,600
Total available for sale securities	$12,147	[1]
[1]	Derived from audited consolidated financial statements.

Securities_in_Continuous_Unrea

Securities in Continuous Unrealized Loss Position (Detail) (USD $)	Dec. 31, 2012
In Thousands, unless otherwise specified
Schedule of Available-for-sale Securities [Line Items]	'
Less than 12 Months Estimated Fair Value	$1,932
Less than 12 Months Unrealized Loss	-67
12 Months or More Estimated Fair Value	'
12 Months or More Unrealized Loss	'
Total Estimated Fair Value	1,932
Total Unrealized Loss	-67
Corporate Bonds	'
Schedule of Available-for-sale Securities [Line Items]	'
Less than 12 Months Estimated Fair Value	1,932
Less than 12 Months Unrealized Loss	-67
12 Months or More Estimated Fair Value	'
12 Months or More Unrealized Loss	'
Total Estimated Fair Value	1,932
Total Unrealized Loss	-67
Government Bonds	'
Schedule of Available-for-sale Securities [Line Items]	'
12 Months or More Estimated Fair Value	'
12 Months or More Unrealized Loss	'
Other Bonds	'
Schedule of Available-for-sale Securities [Line Items]	'
12 Months or More Estimated Fair Value	'
12 Months or More Unrealized Loss	'

Loans_Receivable_Additional_In

Loans Receivable - Additional Information (Detail) (USD $)

3 Months Ended

9 Months Ended

12 Months Ended

3 Months Ended

9 Months Ended

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Dec. 31, 2011

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2012

Loan

Loan

Impaired Loans

Impaired Loans

Retail non-seminar business

Accrued and Unpaid Interest

Accrued and Unpaid Interest

Loan Portfolio

Loan Portfolio

Loan Portfolio

Contract

Contract

Contract

Loan

Loan

Loan

Loan

Accounts, Notes, Loans and Financing Receivable [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

Loans receivable, net

'

$0

'

$3,044,000

[1]

'

'

$3,011,000

'

'

'

'

'

'

Interest receivable

'

0

'

822,000

[1]

'

'

724,000

'

0

727,000

'

'

'

Loan impairment valuation

4,030,000

'

4,030,000

3,368,000

10,195,000

'

'

'

'

947,000

'

'

'

Investment in impaired loans

'

'

'

'

'

0

3,735,000

'

'

'

'

'

'

Investment in impaired loans with an allowance recorded investment

'

'

'

3,735,000

'

'

'

'

'

'

'

'

'

Related Allowance

'

'

'

0

'

'

'

'

'

'

'

'

'

With an allowance recorded, average recorded investment

'

'

'

13,978,000

'

'

'

'

'

'

'

'

'

Interest on impaired loans

'

132,000

1,100,000

'

'

'

'

'

'

'

'

'

'

Number of loans receivable originated

'

0

'

0

'

'

'

'

'

'

'

'

'

Loan impairment charges

'

0

'

947,000

'

'

'

'

'

'

250,000

56,000

4,600,000

Number of loans

'

0

'

'

'

'

'

'

'

'

'

'

'

Number of loans paid off

'

'

'

'

'

'

'

'

'

'

1

1

79

Proceeds from loans payoff

'

'

'

'

'

'

'

'

'

'

574,000

117,000

24,000,000

Proceeds from loans principal balance

-2,712,000

-652,000

-16,037,000

'

'

'

'

'

'

'

560,000

93,000

15,600,000

Proceeds from loans interest accrued

'

'

'

'

'

'

'

'

'

'

196,000

40,000

6,000,000

Proceeds from loan origination fees

'

'

'

'

'

'

'

'

'

'

0

39,000

6,600,000

Gain loss on loans transactions

'

'

'

'

'

'

'

'

'

'

$65,000

$0

($14,000)

Number of Premium Finance Loans

'

'

'

'

'

'

'

114

'

'

'

'

'

Number of policies owned fair value of investments

'

622

'

214

'

'

'

41

'

'

'

'

'

[1]

Derived from audited consolidated financial statements.

Summary_of_Loans_Receivable_De

Summary of Loans Receivable (Detail) (USD $)	Sep. 30, 2013	Jun. 30, 2013	Dec. 31, 2012		Sep. 30, 2012	Jun. 30, 2012	Dec. 31, 2011
In Thousands, unless otherwise specified
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'	'		'	'	'
Loan principal balance	'	$364	$5,255		$7,673	$12,935	$31,264
Loan origination fees, net	'	'	1,157		'	'	'
Loan impairment valuation	'	'	-3,368		-4,030	'	-10,195
Loans receivable, net	$0	'	$3,044	[1]	'	'	'
[1]	Derived from audited consolidated financial statements.

Analysis_of_Changes_in_Loans_R

Analysis of Changes in Loans Receivable Principal Balance (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'	'	'
Loan principal balance, beginning	$364	$12,935	$5,255	$31,264
Loan payoffs	'	-2,712	-652	-16,037
Loans transferred to investments in life settlements	-364	-2,550	-4,603	-7,554
Loan principal balance, ending	'	$7,673	'	$7,673

Loan_Impairment_Valuation_Deta

Loan Impairment Valuation (Detail) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Financing Receivable, Impaired [Line Items]	'	'	'	'
Balance at beginning of period	'	'	$3,368,000	$10,195,000
Provision for losses	'	'	'	-441,000
Charge-offs	'	'	-3,368,000	-6,525,000
Balance at end of period	'	4,030,000	'	4,030,000
Loan Impairment Valuation	'	'	'	'
Financing Receivable, Impaired [Line Items]	'	'	'	'
Balance at beginning of period	338,000	6,826,000	4,315,000	12,115,000
Provision for losses	'	'	'	441,000
Charge-offs	-338,000	-1,739,000	-4,315,000	-7,469,000
Balance at end of period	'	5,087,000	'	5,087,000
Loans Receivable | Loan Impairment Valuation	'	'	'	'
Financing Receivable, Impaired [Line Items]	'	'	'	'
Balance at beginning of period	248,000	5,517,000	3,368,000	10,195,000
Provision for losses	'	'	'	360,000
Charge-offs	-248,000	-1,487,000	-3,368,000	-6,525,000
Balance at end of period	'	4,030,000	'	4,030,000
Interest Receivable | Loan Impairment Valuation	'	'	'	'
Financing Receivable, Impaired [Line Items]	'	'	'	'
Balance at beginning of period	90,000	1,309,000	947,000	1,920,000
Provision for losses	'	'	'	81,000
Charge-offs	-90,000	-252,000	-947,000	-944,000
Balance at end of period	'	$1,057,000	'	$1,057,000

Allowance_for_Loan_Losses_and_

Allowance for Loan Losses and Recorded Investment in Loans by Loan Type (Detail) (USD $)	9 Months Ended
	Sep. 30, 2013		Sep. 30, 2012
Financing Receivable, Allowance for Credit Losses [Line Items]	'		'
Balance at beginning of period	$3,368,000		$10,195,000
Provision for loan losses	'		360,000
Charge-offs	-3,368,000		-6,525,000
Balance at end of period	'		4,030,000
Ending balance: individually evaluated for impairment	'		4,030,000
Uninsured Loans	'		'
Financing Receivable, Allowance for Credit Losses [Line Items]	'		'
Balance at beginning of period	2,692,000		7,103,000
Charge-offs	-2,692,000		-3,687,000
Balance at end of period	'		3,416,000
Ending balance: individually evaluated for impairment	'		3,416,000
Insured Loans	'		'
Financing Receivable, Allowance for Credit Losses [Line Items]	'		'
Balance at beginning of period	676,000	[1]	3,092,000
Provision for loan losses	'		360,000
Charge-offs	-676,000	[1]	-2,838,000
Balance at end of period	'		614,000
Ending balance: individually evaluated for impairment	'		$614,000
[1]	As a result of the entry into the Termination Agreement on April 30, 2013, the LPIC Provider is no longer obligated to pay claims on loans that were not insured.

Analysis_of_Credit_Ratings_Det

Analysis of Credit Ratings (Detail) (USD $)	Dec. 31, 2012
In Thousands, unless otherwise specified
Uninsured Loans	'
Financing Receivable, Recorded Investment [Line Items]	'
Unpaid Principal Balance	$4,754
Percent	100.00%
Insured Loans	'
Financing Receivable, Recorded Investment [Line Items]	'
Unpaid Principal Balance	501	[1]
Percent	100.00%	[1]
AAA | Uninsured Loans	'
Financing Receivable, Recorded Investment [Line Items]	'
Percent	0.00%
AAA | Insured Loans	'
Financing Receivable, Recorded Investment [Line Items]	'
Percent	0.00%	[1]
AA+ | Uninsured Loans	'
Financing Receivable, Recorded Investment [Line Items]	'
Percent	0.00%
AA+ | Insured Loans	'
Financing Receivable, Recorded Investment [Line Items]	'
Percent	0.00%	[1]
AA | Uninsured Loans	'
Financing Receivable, Recorded Investment [Line Items]	'
Percent	0.00%
AA | Insured Loans	'
Financing Receivable, Recorded Investment [Line Items]	'
Percent	0.00%	[1]
AA- | Uninsured Loans	'
Financing Receivable, Recorded Investment [Line Items]	'
Unpaid Principal Balance	2,072
Percent	43.58%
AA- | Insured Loans	'
Financing Receivable, Recorded Investment [Line Items]	'
Unpaid Principal Balance	408	[1]
Percent	81.44%	[1]
A+ | Uninsured Loans	'
Financing Receivable, Recorded Investment [Line Items]	'
Unpaid Principal Balance	2,548
Percent	53.97%
A+ | Insured Loans	'
Financing Receivable, Recorded Investment [Line Items]	'
Unpaid Principal Balance	93	[1]
Percent	18.56%	[1]
A1 | Uninsured Loans	'
Financing Receivable, Recorded Investment [Line Items]	'
Percent	0.00%
A1 | Insured Loans	'
Financing Receivable, Recorded Investment [Line Items]	'
Percent	0.00%	[1]
A | Uninsured Loans	'
Financing Receivable, Recorded Investment [Line Items]	'
Percent	0.00%
A | Insured Loans	'
Financing Receivable, Recorded Investment [Line Items]	'
Percent	0.00%	[1]
BB- | Uninsured Loans	'
Financing Receivable, Recorded Investment [Line Items]	'
Unpaid Principal Balance	$134
Percent	2.45%
BB- | Insured Loans	'
Financing Receivable, Recorded Investment [Line Items]	'
Percent	0.00%	[1]
[1]	All of the Company's insured loans had lender protection coverage with Lexington Insurance Company. As of December 31, 2012, Lexington had a financial strength rating of "A" with a stable outlook by Standard & Poors (S&P). As a result of the entry into the Termination Agreement on April 30, 2013, the LPIC Provider was released from its obligation to pay claims on loans that were insured.

Summary_of_Investment_in_Impai

Summary of Investment in Impaired Loans (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Financing Receivable, Impaired [Line Items]	'	'
Loan receivable, net	$0	$3,044	[1]
Interest receivable, net	0	822	[1]
Impaired Loans	'	'
Financing Receivable, Impaired [Line Items]	'	'
Loan receivable, net	'	3,011
Interest receivable, net	'	724
Investment in impaired loans	$0	$3,735
[1]	Derived from audited consolidated financial statements.

Impaired_Loans_With_and_Withou

Impaired Loans With and Without Related Allowance (Detail) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2012
Financing Receivable, Impaired [Line Items]	'
With no Related Allowance	$0
With no related allowance recorded, recorded investment	3,735
With no related allowance recorded, unpaid principal balance	5,236
With no Related Allowance	4,315
With no related allowance recorded, recorded investment	13,978
With no related allowance recorded, interest income recognized	1,671
Uninsured Loans	'
Financing Receivable, Impaired [Line Items]	'
With no related allowance recorded, recorded investment	'
With no related allowance recorded, unpaid principal balance	'
With no Related Allowance	'
With no related allowance recorded, recorded investment	'
With no related allowance recorded, interest income recognized	'
With no related allowance recorded, recorded investment	3,623
With no related allowance recorded, unpaid principal balance	4,735
With no Related Allowance	3,413
With no related allowance recorded, recorded investment	6,887
With no related allowance recorded, interest income recognized	1,444
Insured Loans	'
Financing Receivable, Impaired [Line Items]	'
With no related allowance recorded, recorded investment	'
With no related allowance recorded, unpaid principal balance	'
With no Related Allowance	'
With no related allowance recorded, recorded investment	'
With no related allowance recorded, interest income recognized	'
With no related allowance recorded, recorded investment	112
With no related allowance recorded, unpaid principal balance	501
With no Related Allowance	902
With no related allowance recorded, recorded investment	7,091
With no related allowance recorded, interest income recognized	$227

Analysis_of_Past_Due_Loans_Det

Analysis of Past Due Loans (Detail) (USD $)	Dec. 31, 2012
In Thousands, unless otherwise specified
Financing Receivable, Recorded Investment, Past Due [Line Items]	'
30-59 Days Past Due	'
60-89 Days Past Due	'
Greater Than 90 Days Past Due	914
Total Past Due	914
Uninsured Loans	'
Financing Receivable, Recorded Investment, Past Due [Line Items]	'
30-59 Days Past Due	'
60-89 Days Past Due	'
Greater Than 90 Days Past Due	599
Total Past Due	599
Insured Loans	'
Financing Receivable, Recorded Investment, Past Due [Line Items]	'
30-59 Days Past Due	'
60-89 Days Past Due	'
Greater Than 90 Days Past Due	315
Total Past Due	$315

Origination_Fees_Additional_In

Origination Fees - Additional Information (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Loans [Line Items]	'	'
Loans receivable, net	$0	$3,044	[1]
[1]	Derived from audited consolidated financial statements.

Summary_of_Origination_Fees_in

Summary of Origination Fees in Loan Receivable (Detail) (USD $)	Dec. 31, 2012
In Thousands, unless otherwise specified
Accounts, Notes, Loans and Financing Receivable [Line Items]	'
Loan origination fees gross	$1,334
Un-accreted origination fees	-190
Amortized loan originations costs	13
Loan origination fees, net	$1,157

StockBased_Compensation_Additi

Stock-Based Compensation - Additional Information (Detail) (USD $)

9 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

1 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2011

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Apr. 30, 2013

2014

2015

Omnibus Plan

Omnibus Plan

Restricted Stock

Restricted Stock

Restricted Stock

Restricted Stock

Restricted Stock

Stock Option

Stock Option

Stock Option

Stock Option

Unrestricted Common Stock

Omnibus Plan

Omnibus Plan

Omnibus Plan

Omnibus Plan

Omnibus Plan

Omnibus Plan

Omnibus Plan

Omnibus Plan

Omnibus Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shares of common stock reserved for future grant

'

'

'

'

'

1,200,000

'

'

'

'

'

'

'

'

'

'

'

Stock-based compensation expense

$1,203,000

$205,000

'

'

'

'

'

'

$30,000

$0

$39,000

$4,000

$118,000

$105,000

$1,100,000

$201,000

'

Options granted

545,000

'

'

'

'

545,000

'

'

'

'

'

'

'

'

'

'

'

Options granted strike price

$6.94

'

'

'

'

$6.94

'

'

'

'

'

'

'

'

'

'

'

Stock granted

17,286

'

'

'

'

'

'

'

'

'

17,286

'

'

'

'

'

13,759

Fair value of stock granted

'

'

'

'

'

'

'

'

120,138

'

120,138

'

'

'

'

'

57,000

Options outstanding and unexercised

899,472

'

487,314

'

'

899,472

'

'

'

'

'

'

'

'

'

'

'

Options outstanding and unexercised, weighted average price

$8.57

'

$10.75

'

'

$8.57

$10.75

'

'

'

'

'

'

'

'

'

'

Options outstanding and unexercised, expiry period

'

'

'

'

'

'7 years

'7 years

'

'

'

'

'

'

'

'

'

'

Options outstanding and unexercised, vesting period

'

'

'

'

'

'2 years

'3 years

'

'

'

'1 year

'

'

'

'

'

'

Remaining unamortized amounts

212,000

'

'

604,000

247,000

'

'

'

'

'

'

'

'

'

'

'

'

Aggregate intrinsic value

'

'

'

'

'

'

'

$109,000

'

'

'

'

'

'

'

'

'

Remaining weighted average life

'

'

'

'

'

'

'

'8 months 5 days

'

'

'

'

'

'

'

'

'

Assumptions_Used_at_the_Date_o

Assumptions Used at the Date of Grant for Stock Based Compensation (Detail)	9 Months Ended
	Sep. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Expected Volatility	65.47%
Expected Dividend	0.00%
Expected Term in Years	'4 years 3 months
Risk Free Rate, minimum	0.48%
Risk Free Rate, maximum	1.01%

Common_Stock_Options_Activity_

Common Stock Options Activity (Detail) (USD $)	9 Months Ended
	Sep. 30, 2013
Number of Shares	'
Options outstanding, Beginning Balance	487,314
Options granted	545,000
Options exercised	'
Options forfeited	-2,541
Options expired	-130,301
Options outstanding, Ending Balance	899,472
Exercisable at end of period	470,954
Unvested at end of period	428,518
Weighted Average Price Per Share	'
Options outstanding, Beginning Balance	$10.75
Options granted	$6.94
Options exercised	'
Options forfeited	$10.75
Options expired	$9.86
Options outstanding, Ending Balance	$8.57
Exercisable at end of period	$9.28
Unvested at end of period	$7.79
Weighted Average Remaining Contractual Term	'
Options granted	'6 years 8 months 5 days
Options outstanding, end of period	'5 years 8 months 9 days
Exercisable at end of period	'5 years 3 months 4 days
Unvested at end of period	'6 years 2 months 1 day

Activity_of_Unvested_Restricte

Activity of Unvested Restricted Common Shares (Detail)	9 Months Ended
	Sep. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Common Unvested Shares outstanding, Beginning Balance	'
Granted	17,286
Vested	'
Forfeited	'
Common Unvested Shares outstanding, Ending Balance	17,286

Structural_Settlements_Detail

Structural Settlements (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]	'	'
Structured settlements - at cost	$1,186	$1,574	[1]
Structured settlements - at fair value	1,784	1,680	[1]
Structured settlements receivable, net	$2,970	$3,254
[1]	Derived from audited consolidated financial statements.

Structured_Settlements_Additio

Structured Settlements - Additional Information (Detail) (USD $)

3 Months Ended

9 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

1 Months Ended

9 Months Ended

1 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Dec. 31, 2011

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Dec. 31, 2011

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2011

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 24, 2010

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Dec. 31, 2011

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2011

21-May-13

Sep. 30, 2013

Sep. 30, 2012

21-May-13

Unrelated Parties

Unrelated Parties

Structured Settlements Intended for Sale to ISF

Structured Settlements Intended for Sale to ISF

8.39% Fixed Rate Asset Backed Variable Funding Notes

8.39% Fixed Rate Asset Backed Variable Funding Notes

8.39% Fixed Rate Asset Backed Variable Funding Notes

8.39% Fixed Rate Asset Backed Variable Funding Notes

8.39% Fixed Rate Asset Backed Variable Funding Notes

8.39% Fixed Rate Asset Backed Variable Funding Notes

Structured settlements

Structured settlements

Structured settlements

Structured settlements

Structured settlements

Scenario, Previously Reported

Scenario, Previously Reported

ISF 2010

ISF 2010

ISF 2010

ISF 2010

ISF 2010

ISF 2010

Life Contingent Structured Settlement Facility

Life Contingent Structured Settlement Facility

Life Contingent Structured Settlement Facility

Life Contingent Structured Settlement Facility

Life Contingent Structured Settlement Facility

Life Contingent Structured Settlement Facility

Life Contingent Structured Settlement Facility

Life Contingent Structured Settlement Facility

Life Contingent Structured Settlement Facility

Life Contingent Structured Settlement Facility

Life Contingent Structured Settlement Facility

Guaranteed Insurance Contracts

Guaranteed Insurance Contracts

8.39% Fixed Rate Asset Backed Variable Funding Notes

Interest Income

Unrelated Parties

Unrelated Parties

8.39% Fixed Rate Asset Backed Variable Funding Notes

8.39% Fixed Rate Asset Backed Variable Funding Notes

8.39% Fixed Rate Asset Backed Variable Funding Notes

Maximum

Contract

Contract

Originated During Twenty Twelve

Originated During Twenty Eleven

Originated

Originated

WSF

Compass

Compass

Compass

Compass

Contract

Contract

8.39% Fixed Rate Asset Backed Variable Funding Notes

Contract

Contract

Contract

Contract

Maximum

Maximum

Securities Financing Transaction [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Proceeds from sale of investments in life settlements

'

'

'

'

'

$11,700,000

$2,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$40,000,000

'

'

'

'

Purchases of investments in life settlements

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

10,000,000

'

'

45,000,000

Number of structured settlement contracts

'

'

'

'

'

'

'

'

'

'

'

'

'

73

319

'

'

'

'

'

'

'

'

'

'

'

'

'

107

311

5

107

102

204

'

'

'

'

'

Unrealized change in fair value of life settlements

15,262,000

-17,530,000

81,948,000

-8,401,000

'

'

'

217,000

548,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

72,000

1,100,000

'

'

'

'

353,000

718,000

'

Realized gain on sale of structured settlements

2,102,000

2,187,000

8,772,000

7,796,000

'

6,500,000

1,800,000

'

'

757,000

4,200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,400,000

1,800,000

'

'

'

'

'

Available commitments under facility

50,113,000

'

50,113,000

'

113,441,000

[1]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,400,000

2,200,000

'

'

'

'

7,200,000

'

'

'

'

'

'

'

'

'

'

Credit facility, maximum borrowing

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

50,000,000

'

'

'

'

'

'

'

'

'

'

'

'

Debt instrument maturity date

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1-Jan-57

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percent of credit facility limit

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

15.00%

'

'

5.00%

'

'

'

'

'

'

'

'

'

'

'

Credit facility outstanding

120,100,000

'

120,100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

46,100,000

43,200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Total funds held amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,400,000

2,200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of policies sold

2

'

'

'

'

'

'

'

'

76

500

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of policies originated

'

'

'

'

'

'

'

'

'

'

'

2

1

'

'

'

'

'

181

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Structured settlement receivables held at fair value

430,000

409,000

1,211,000

1,587,000

'

586,000

188,000

'

'

'

'

11,000

2,500

'

'

55,000

'

'

3,200,000

'

158,000

134,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Acquisition purchase price percentage

95.00%

'

95.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Ownership interest

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage contributed to cash reserve held by Wilmington Trust

1.00%

'

1.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of deals sold

'

'

'

'

'

256

169

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest income

58,000

252,000

220,000

1,856,000

'

'

'

'

'

'

'

'

'

'

'

247,000

243,000

'

'

192,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Other receivable

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3,000,000

'

3,300,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Discount on receivables

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$5,600,000

'

$4,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

[1]

Derived from audited consolidated financial statements.

Investment_in_Life_Settlements2

Investment in Life Settlements (Life Insurance Policies) - Additional Information (Detail) (USD $)	9 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
	Contract	Contract
Life Insurance Premiums and Related Investment Income [Line Items]	'	'
Number of policies owned fair value of investments	622	214
Fair value of life insurance policies held	$292,383	$113,441
Average life expectancy of insured	'11 years 10 months 24 days	'10 years 7 months 6 days
Estimated future premium payments	$1,453,757	'

Investment_in_Life_Settlements3

Investment in Life Settlements (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Contract	Contract
Number of Life Settlement Contracts	'	'
0 - 1	'	'
2-Jan	'	'
3-Feb	5	1
4-Mar	8	4
5-Apr	6	7
Thereafter	603	202
Total	622	214
Fair Value	'	'
0 - 1	'	'
2-Jan	'	'
3-Feb	6,939	1,222
4-Mar	9,423	3,319
5-Apr	11,315	11,375
Thereafter	264,706	97,525
Total	292,383	113,441
Face Value	'	'
0 - 1	'	'
2-Jan	'	'
3-Feb	13,750	2,500
4-Mar	27,100	11,450
5-Apr	27,550	30,950
Thereafter	2,930,640	1,028,256
Total	$2,999,040	$1,073,156

Estimated_Premiums_to_be_Paid_

Estimated Premiums to be Paid (Detail) (USD $)	Sep. 30, 2013
In Thousands, unless otherwise specified
Life Insurance Premiums and Related Investment Income [Line Items]	'
Remainder of 2013	$24,208
2014	53,809
2015	52,638
2016	56,422
2017	63,318
Thereafter	1,203,362
Estimated future premium payments	$1,453,757

Note_Payable_Additional_Inform

Note Payable - Additional Information (Detail) (USD $)

Sep. 30, 2013

Dec. 31, 2012

Apr. 29, 2013

Sep. 30, 2013

Sep. 30, 2013

Apr. 29, 2013

Apr. 29, 2013

Apr. 29, 2013

Apr. 29, 2013

Apr. 29, 2013

Apr. 29, 2013

Apr. 29, 2013

Apr. 29, 2013

Apr. 29, 2013

Contract

Contract

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Securities

Securities Pledged as Collateral

Maintenance Costs

Accrued and Unpaid Interest

Other fees and expense

Collateral policies pledges

Policies Pledged as Collateral

Floor Rate

Applicable Margin

Federal Funds Rate

White Eagle Asset Portfolio, LLC

Contract

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Revolving credit facility effective date

'

'

'

'

'

'

'

'

'

'

'

'

'

29-Apr-13

Revolving credit facility period

'

'

'15 years

'

'

'

'

'

'

'

'

'

'

'15 years

Portfolio of life insurance

'

'

$300,000,000

$120,100,000

'

'

'

'

'

'

'

'

'

$300,000,000

Life insurance, number of policies

622

214

458

'

458

'

'

'

'

'

'

'

'

'

Life insurance policies with aggregate death benefit

2,999,040,000

1,073,156,000

'

'

2,300,000,000

'

'

'

'

'

'

'

'

'

Life insurance estimated fair value

292,383,000

113,441,000

'

'

242,300,000

'

'

'

'

'

'

'

'

'

Line of credit borrowing base percentage

'

'

'

'

'

100.00%

100.00%

100.00%

75.00%

50.00%

'

'

'

'

Percentage of remaining proceeds

'

'

100.00%

'

'

'

'

'

'

'

'

'

'

50.00%

Proceeds to be paid to White Eagle after payment of loan

'

'

'

'

'

'

'

'

'

'

'

'

'

76,100,000

Collateral pledge percentage for distributions to be altered

'

'

25.00%

'

'

'

'

'

'

'

'

'

'

'

Basis spread on variable rate

'

'

'

'

'

'

'

'

'

'

1.50%

4.00%

0.75%

'

Base rate

'

'

0.50%

'

'

'

'

'

'

'

'

'

'

'

Debt instrument effective rate

'

'

'

5.50%

'

'

'

'

'

'

'

'

'

'

Credit agreement expiration date

'

'

28-Apr-28

'

'

'

'

'

'

'

'

'

'

'

Fair value of note payable

114,784,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Note payable, outstanding principal balance

$121,100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Assets_Measured_at_Fair_Value_

Assets Measured at Fair Value on Recurring Basis (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fair value of life insurance policies held	$292,383	$113,441
Structured settlement receivables	1,784	1,680	[1]
Investment securities available for sale	'	12,147
Assets, Fair Value Disclosure, Total	294,167	127,268
Fair Value, Inputs, Level 2	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Investment securities available for sale	'	12,147
Assets, Fair Value Disclosure, Total	'	12,147
Fair Value, Inputs, Level 3	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fair value of life insurance policies held	292,383	113,441
Structured settlement receivables	1,784	1,680
Assets, Fair Value Disclosure, Total	$294,167	$115,121
[1]	Derived from audited consolidated financial statements.

Liabilities_Measured_at_Fair_V

Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $)	Sep. 30, 2013
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Note payable	$114,784
Financial and Nonfinancial Liabilities, Fair Value Disclosure, Total	114,784
Fair Value, Inputs, Level 3	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Note payable	114,784
Financial and Nonfinancial Liabilities, Fair Value Disclosure, Total	$114,784

Quantitative_Information_about

Quantitative Information about Level 3 Fair Value Measurements (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013		Dec. 31, 2012
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Investment in life settlements	$292,383		$113,441
Structured settlements receivables	1,784		1,680	[1]
Investment in life settlements	2,999,040		1,073,156
Note payable	114,784		'
Weighted average discount rate	19.63%		'
Fair Value, Inputs, Level 3	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Investment in life settlements	292,383		113,441
Structured settlements receivables	1,784		1,680
Investment in life settlements	2,999,040		'
Note payable	114,784		'
Fair Value, Inputs, Level 3 | Non Premium Financed	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Investment in life settlements	39,346		'
Investment in life settlements	206,450		'
Fair Value, Inputs, Level 3 | Premium Financed	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Investment in life settlements	253,037		'
Investment in life settlements	$2,792,590		'
Fair Value, Inputs, Level 3 | Life Finance	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Valuation Technique (s)	'Discounted cash flow		'
Weighted average life expectancy valuation period	'11 years 10 months 24 days		'
Weighted average discount rate	-19.63%		'
Fair Value, Inputs, Level 3 | Life Finance | Non Premium Financed	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Valuation Technique (s)	'Discounted cash flow		'
Weighted average life expectancy valuation period	'9 years 2 months 12 days		'
Fair Value, Inputs, Level 3 | Life Finance | Premium Financed	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Valuation Technique (s)	'Discounted cash flow		'
Weighted average life expectancy valuation period	'12 years 1 month 6 days		'
Fair Value, Inputs, Level 3 | Structured settlements	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Valuation Technique (s)	'Discounted cash flow		'
Weighted average discount rate	23.66%	[2]	'
Fair Value, Inputs, Level 3 | Long-term debt	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Valuation Technique (s)	'Discounted cash flow		'
Weighted average life expectancy valuation period	'11 years 4 months 24 days		'
Minimum | Fair Value, Inputs, Level 3 | Life Finance | Non Premium Financed	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Discount rate	13.72%		'
Minimum | Fair Value, Inputs, Level 3 | Life Finance | Premium Financed	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Discount rate	15.72%		'
Minimum | Fair Value, Inputs, Level 3 | Structured settlements	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Discount rate	5.95%		'
Maximum | Fair Value, Inputs, Level 3 | Life Finance | Non Premium Financed	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Discount rate	20.72%		'
Maximum | Fair Value, Inputs, Level 3 | Life Finance | Premium Financed	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Discount rate	28.72%		'
Maximum | Fair Value, Inputs, Level 3 | Structured settlements	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Discount rate	12.80%		'
[1]	Derived from audited consolidated financial statements.
[2]	Actual

Fair_Value_Measurements_Additi

Fair Value Measurements - Additional Information (Detail) (USD $)

3 Months Ended

9 Months Ended

6 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

1 Months Ended

9 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Mar. 31, 2013

Dec. 31, 2012

Jan. 22, 2013

Jun. 30, 2013

Jun. 30, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Apr. 29, 2013

Apr. 29, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2013

Contract

Contract

Contract

21st Services

Noninvestment grade

Noninvestment grade

Structured settlements

Previously Premium Financed

Previously Premium Financed

Previously Premium Financed

Non-Premium not Financed

Non-Premium not Financed

Non-Premium not Financed

Previously had Lender Protection Insurance

Revolving Credit Facility

Revolving Credit Facility

Impaired life bearing

Life Finance

Life Finance

BasisPoint

BasisPoint

Contract

Contract

Minimum

Maximum

Contract

Minimum

Maximum

Securities

White Eagle Asset Portfolio, LLC

Minimum

Maximum

Contract

Contract

Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Mortality rate

'

100.00%

'

100.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

200.00%

'

'

Mortality rate Assumption

'

'

'

'The resulting mortality factor represents an indication as to the degree to which the given life can be considered more or less impaired than a standard life having similar characteristics (e.g. gender, age, smoking, etc.). For example, a standard insured (the average life for the given mortality table) would carry a mortality rating of 100%. A similar but impaired life bearing a mortality rating of 200% would be considered to have twice the chance of dying earlier than the standard life. The probability of mortality for an insured is then calculated by applying the blended life expectancy estimate to a mortality table. The mortality table is created based on the rates of death among groups categorized by gender, age, and smoking status. By measuring how many deaths occur during each year, the table allows for a calculation of the probability of death in a given year for each category of insured people. The probability of mortality for an insured is found by applying the mortality rating from the life expectancy assessment to the probability found in the actuarial table for the insuredbs age, sex and smoking status. The Company has historically applied an actuarial table developed by a third party. However, beginning in the quarter ended September 30, 2012, the Company transitioned to a table developed by the U.S. Society of Actuaries known as the 2008 Valuation Basic Table, or the 2008 VBT. However, because the 2008 VBT table does not account for anticipated improvements in mortality in the insured population, the table was modified by outside consultants to reflect these expected mortality improvements. The Company believes that the change in mortality table does not materially impact the valuation of its life insurance policies and that its adoption of a modified 2008 VBT table is consistent with modified tables used by market participants and third party medical underwriters.

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Life expectancy, percentage

15.43%

'

15.43%

'

13.00%

'

19.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Discount rates

'

'

'

'

'

'

'

'

'

'

'

15.72%

28.72%

'

13.72%

20.72%

19.63%

'

'

'

15.00%

17.00%

Number of life insurance policies

622

'

622

'

'

214

'

19

19

45

579

'

'

43

'

'

'

458

'

'

'

'

Additional basis point risk premium

'

'

'

'

'

'

'

300

300

'

'

'

'

'

'

'

'

'

'

'

'

'

Aggregate investment in life settlements

$292,383,000

'

$292,383,000

'

'

$113,441,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Settlements with estimated fair value

1,784,000

'

1,784,000

'

'

1,680,000

[1]

'

'

'

1,784,000

'

'

'

'

'

'

'

'

'

'

'

'

Weighted average discount rate

'

'

19.63%

'

'

'

'

'

'

8.71%

'

'

'

'

'

'

'

'

'

'

'

'

Revolving credit facility period

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'15 years

'15 years

'

'

'

Percentage of remaining proceeds

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

100.00%

50.00%

'

'

'

Proceeds to be paid to White Eagle after payment of loan

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

76,100,000

'

'

'

Debt, fair value

114,784,000

'

114,784,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt, outstanding principal balance

120,100,000

'

120,100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Change in fair value of life settlements

($461,000)

($140,000)

($1,708,000)

$151,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

[1]

Derived from audited consolidated financial statements.

Changes_in_Life_Expectancy_Use

Changes in Life Expectancy Used to Estimate Fair Value (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'	'	'
Value	$292,383	'	$292,383	'	$113,441
Change in Value	-461	-140	-1,708	151	'
+6 Life Expectancy Months Adjustment	'	'	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'	'	'
Value	243,272	'	243,272	'	'
Change in Value	'	'	-49,111	'	'
-6 Life Expectancy Months Adjustment	'	'	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'	'	'
Value	345,639	'	345,639	'	'
Change in Value	'	'	$53,256	'	'

Changes_in_Weighted_Average_Di

Changes in Weighted Average Discount Rate Used to Estimate Fair Value (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'	'	'
Weighted Average Rate	'	'	19.63%	'	'
Value	$292,383	'	$292,383	'	$113,441
Change in Value	-461	-140	-1,708	151	'
.50% Decrease in Discount Rate	'	'	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'	'	'
Weighted Average Rate	'	'	19.13%	'	'
Value	301,376	'	301,376	'	'
Change in Value	'	'	8,993	'	'
.50% Increase in Discount Rate	'	'	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'	'	'
Weighted Average Rate	'	'	20.13%	'	'
Value	283,790	'	283,790	'	'
Change in Value	'	'	($8,593)	'	'

Changes_in_Life_Expectancy_Use1

Changes in Life Expectancy Used to Estimate Fair Value of Note Payable (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Value	$114,784
Notes Payable	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Value	114,784
+6 Life Expectancy Months Adjustment | Notes Payable	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Value	99,650
Change in Value	-15,134
-6 Life Expectancy Months Adjustment | Notes Payable	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Value	134,500
Change in Value	$19,716

Changes_in_Weighted_Average_Di1

Changes in Weighted Average Discount Rate Used to Estimate Fair Value of Note Payable (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Value	$114,784
Notes Payable	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Weighted Average Rate	23.66%
Value	114,784
.50% Decrease in Discount Rate | Notes Payable	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Weighted Average Rate	23.16%
Value	117,391
Change in Value	2,607
.50% Increase in Discount Rate | Notes Payable	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Weighted Average Rate	24.16%
Value	112,272
Change in Value	($2,512)

Changes_in_Fair_Value_for_All_

Changes in Fair Value for All Assets Using Material Level of Unobservable (Level 3) Inputs (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Life Finance	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Beginning Balance	$113,441	$90,917
Purchase of contracts	55,500	130
Acquired in foreclosure	3,168	5,050
Change in fair value	81,948	-8,401
Sale of contracts	'	-5,334
Matured/lapsed/sold policies	-12,658	'
Transfers into level 3	'	'
Transfer out of level 3	'	'
Premiums paid	50,984	20,106
Policies laspes/written off	'	-140
Ending Balance	292,383	102,328
Changes in fair value included in earnings for the period relating to assets held at end of period	74,655	-8,638
Structured settlements	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Beginning Balance	1,680	12,376
Purchase of contracts	13,547	17,115
Change in fair value	1,211	1,587
Sale of contracts	-14,584	-28,396
Collections	-70	-186
Transfers into level 3	'	'
Transfer out of level 3	'	'
Ending Balance	1,784	2,496
Changes in fair value included in earnings for the period relating to assets held at end of period	467	429
Notes Payable	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Initial Advance under the revolving credit facility	83,020	'
Subsequent Draws under the revolving credit facility	37,059	'
Unrealized change in fair value	-5,295	'
Transfers into level 3	'	'
Transfer out of level 3	'	'
Ending Balance	114,784	'
Changes in fair value included in earnings for the period relating to assets held at end of period	($5,295)	'

Segment_Information_Additional

Segment Information - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2013
	Segment
Supplementary Insurance Information, by Segment [Line Items]	'
Number of operating segment	2

Segment_Results_and_Reconcilia

Segment Results and Reconciliation to Consolidated Net Income (Detail) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]	'	'	'	'
Interest income	$58,000	$252,000	$220,000	$1,856,000
Interest and dividends on investment securities available for sale	'	72,000	14,000	332,000
Origination income	'	45,000	'	483,000
Change in fair value of life settlements	15,262,000	-17,530,000	81,948,000	-8,401,000
(Loss) gain on life settlements, net	-461,000	-140,000	-1,708,000	151,000
Servicing fee income	'	271,000	310,000	955,000
Unrealized change in fair value of structured settlements	430,000	409,000	1,211,000	1,587,000
Gain on maturities of life settlements with subrogation rights, net	'	'	'	6,090,000
Other	116,000	123,000	2,206,000	989,000
Total income	17,507,000	-14,311,000	92,973,000	11,838,000
Interest expense	1,158,000	141,000	12,020,000	1,219,000
Change in fair value of note payable	66,000	'	-5,295,000	'
Loss on extinguishment of debt	'	'	3,991,000	'
Provision for losses on loan receivables	'	'	'	441,000
(Gain) loss on loans payoffs and settlements, net	'	-139,000	-65,000	14,000
Amortization of deferred costs	'	254,000	7,000	1,751,000
Legal fees	3,522,000	9,328,000	12,265,000	22,918,000
Professional fees	1,655,000	1,559,000	4,375,000	5,272,000
Insurance	478,000	626,000	1,475,000	1,712,000
Other selling, general and administrative expenses	823,000	771,000	2,552,000	2,730,000
Income (loss) before income taxes	6,161,000	-31,480,000	49,591,000	-41,017,000
Benefit (provision) for income taxes	'	5,000	-40,000	46,000
Net income (loss)	6,161,000	-31,475,000	49,551,000	-40,971,000
Life Finance	'	'	'	'
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]	'	'	'	'
Interest income	-3,000	180,000	26,000	1,613,000
Origination income	'	45,000	'	483,000
Change in fair value of life settlements	15,262,000	-17,530,000	81,948,000	-8,401,000
(Loss) gain on life settlements, net	-461,000	-140,000	-1,708,000	151,000
Servicing fee income	'	271,000	'	955,000
Gain on maturities of life settlements with subrogation rights, net	'	'	310,000	6,090,000
Other	6,000	16,000	2,003,000	175,000
Total income	14,804,000	-17,158,000	82,579,000	1,066,000
Structured settlements	'	'	'	'
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]	'	'	'	'
Interest income	60,000	72,000	192,000	243,000
(Loss) gain on life settlements, net	2,102,000	2,187,000	8,772,000	7,796,000
Unrealized change in fair value of structured settlements	430,000	409,000	1,211,000	1,587,000
Other	105,000	101,000	191,000	354,000
Total income	2,697,000	2,769,000	10,366,000	9,980,000
Direct Segment Assets | Life Finance	'	'	'	'
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]	'	'	'	'
Interest expense	1,155,000	140,000	12,010,000	1,215,000
Change in fair value of note payable	66,000	'	-5,295,000	'
Loss on extinguishment of debt	'	'	3,991,000	'
Provision for losses on loan receivables	'	'	'	441,000
(Gain) loss on loans payoffs and settlements, net	'	-139,000	-65,000	14,000
Amortization of deferred costs	'	255,000	7,000	1,752,000
Personnel costs	839,000	1,099,000	3,518,000	4,663,000
Legal fees	2,296,000	1,116,000	3,655,000	2,622,000
Professional fees	801,000	315,000	1,769,000	1,180,000
Insurance	96,000	313,000	409,000	806,000
Other selling, general and administrative expenses	269,000	443,000	1,067,000	1,205,000
Segment Reporting Information, Operating Expense, Total	5,522,000	3,542,000	21,066,000	13,898,000
Segment operating income	9,282,000	-20,700,000	61,513,000	-12,832,000
Direct Segment Assets | Structured settlements	'	'	'	'
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]	'	'	'	'
Personnel costs	2,107,000	2,443,000	5,767,000	7,033,000
Marketing costs	461,000	1,034,000	1,889,000	4,481,000
Legal fees	379,000	527,000	1,346,000	1,671,000
Professional fees	300,000	615,000	979,000	1,527,000
Insurance	96,000	313,000	402,000	799,000
Other selling, general and administrative expenses	520,000	328,000	1,385,000	1,362,000
Segment Reporting Information, Operating Expense, Total	3,863,000	5,260,000	11,768,000	16,873,000
Segment operating income	-1,166,000	-2,491,000	-1,402,000	-6,893,000
Consolidated	'	'	'	'
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]	'	'	'	'
Segment operating income	8,116,000	-23,191,000	60,111,000	-19,725,000
Benefit (provision) for income taxes	'	5,000	-40,000	46,000
Unallocated Income	'	'	'	'
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]	'	'	'	'
Interest and dividends on investment securities available for sale	5,000	'	16,000	332,000
Other	'	78,000	13,000	637,000
Segment Reporting Information Operating Income, Total	5,000	78,000	29,000	969,000
Unallocated Expenses	'	'	'	'
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]	'	'	'	'
Interest expense	4,000	'	11,000	3,000
Personnel costs	237,000	53,000	883,000	621,000
Legal fees	847,000	7,685,000	7,262,000	18,625,000
Professional fees	554,000	629,000	1,627,000	2,565,000
Insurance	286,000	'	664,000	107,000
Other selling, general and administrative expenses	32,000	'	102,000	340,000
Segment Reporting Information, Operating Expense, Total	$1,960,000	$8,367,000	$10,549,000	$22,261,000

Segment_Assets_and_Reconciliat

Segment Assets and Reconciliation to Consolidated Total Assets (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Segment Reporting, Asset Reconciling Item [Line Items]	'	'
Assets	$330,147	$160,342	[1]
Direct Segment Assets	'	'
Segment Reporting, Asset Reconciling Item [Line Items]	'	'
Assets	307,583	130,443
Life Finance | Direct Segment Assets	'	'
Segment Reporting, Asset Reconciling Item [Line Items]	'	'
Assets	299,839	123,581
Structured settlements | Direct Segment Assets	'	'
Segment Reporting, Asset Reconciling Item [Line Items]	'	'
Assets	7,744	6,862
Other Unallocated Assets	'	'
Segment Reporting, Asset Reconciling Item [Line Items]	'	'
Assets	22,564	29,899
Total Segment Assets	'	'
Segment Reporting, Asset Reconciling Item [Line Items]	'	'
Assets	$330,147	$160,342
[1]	Derived from audited consolidated financial statements.

Commitments_and_Contingencies_

Commitments and Contingencies - Additional Information (Detail) (USD $)

1 Months Ended

3 Months Ended

9 Months Ended

1 Months Ended

9 Months Ended

9 Months Ended

12 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

Apr. 26, 2012

Feb. 24, 2012

Sep. 30, 2013

Sep. 30, 2012

Mar. 31, 2012

Sep. 30, 2013

Sep. 30, 2012

Feb. 15, 2012

Feb. 15, 2012

Feb. 15, 2012

Jul. 29, 2013

Sep. 30, 2013

Sep. 30, 2012

Apr. 18, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

LegalMatter

Through 2012

Through 2013

Pending Litigation

Pending Litigation

Pending Litigation

Pending Litigation

Derivative Actions

Derivative Actions

Derivative Actions

Class Action

Class Action

Minimum

Minimum

Directors and Officers Liability Insurance

Commitments and Contingencies [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Amount of litigation fees

'

'

$3,522,000

$9,328,000

'

$12,265,000

$22,918,000

'

'

'

'

$4,600,000

$12,800,000

'

'

$1,000,000

$500,000

$2,500,000

$4,100,000

Separation payment

1,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Indemnification expenses

'

'

'

'

'

2,300,000

2,000,000

'

'

'

'

'

'

'

'

'

'

'

'

Entitled base salary, months

'

'

'

'

'

'

'

'24 months

'

'

'

'

'

'

'

'

'

'

'

Expected bonus payment

'

'

'

'

'

'

'

'

250,000

250,000

'

'

'

'

'

'

'

'

'

Line of credit, interest rate per annum

'

'

12.00%

'

'

12.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

Putative class actions

'

4

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Reimbursement of defense costs and fees

'

'

'

'

800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Payments for class action settlements

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

12,000,000

Insurance recoverable from the Company's D&O Carrier

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,500,000

'

'

'

11,000,000

Issuance of warrants shares

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,000,000

Issuance of warrants for common stock

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3,100,000

Common stock warrants term

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'5 years

Exercise price of warrants

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

10.75

Proposed settlement reserved amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,000,000

'

17,600,000

'

Insurance settlement receivable

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,500,000

1,500,000

'

11,000,000

'

Increase in Value Of Warrants

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,500,000

'

Estimated Fair Value Of Warrants

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5,600,000

'

Common stock issued for legal settlement

'

'

'

'

'

'

'

'

'

'

'

'

'

'

125,628

'

'

'

'

Number of policies

'

'

41

'

'

41

'

'

'

'

'

'

'

29

'

'

'

'

'

Compensatory damages sought in addition to an award of punitive damages

'

'

'

'

'

'

'

'

'

'

30,000,000

'

'

'

'

'

'

'

'

Litigation expense sanctioned by court on subsidiary Imperial Premium Finance (IPF)

'

'

'

'

'

$850,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Stockholders_Equity_Additional

Stockholders' Equity - Additional Information (Detail) (USD $)	1 Months Ended
In Millions, except Share data, unless otherwise specified	Feb. 28, 2011	Feb. 15, 2011	Feb. 11, 2011
Stockholders Equity [Line Items]	'	'	'
Sale of common stock in initial public offering	17,602,614	935,947	16,666,667
Common stock price per share	$10.75	'	$10.75
Proceeds from initial public offering	$174.20	'	'

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail) (USD $)	9 Months Ended
	Sep. 30, 2013
Income Taxes [Line Items]	'
Annual effective tax rate	0.00%
Effective tax rate, valuation allowance for deferred tax assets	0.00%
Reduction in deferred tax valuation allowance associated with unrealized gain in accumulated other comprehensive income	$41,000
Unrecognized tax benefits	$6,300,000

Subsequent_Events_Additional_I

Subsequent Events - Additional Information (Detail) (Subsequent Event, Structured settlements, USD $)	1 Months Ended
In Millions, unless otherwise specified	Oct. 25, 2013
Subsequent Event | Structured settlements	'
Subsequent Event [Line Items]	'
Sale of its structured settlement business	$12
Recognized a gain on structured settlement assets	$11.30