Global Indemnity (GBLI) 10-Q 4 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 28, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	GBLI
Entity Registrant Name	GLOBAL INDEMNITY PLC
Entity Central Index Key	1,494,904
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Ordinary Shares A
Document Information [Line Items]
Entity Ordinary Shares, Shares Outstanding		13,665,096
Ordinary Shares B
Document Information [Line Items]
Entity Ordinary Shares, Shares Outstanding		12,061,370

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fixed maturities:
Available for sale, at fair value (amortized cost: $1,541,284 and $1,272,948)	$ 1,550,622	$ 1,283,475
Equity securities:
Available for sale, at fair value (cost: $103,019 and $99,297)	121,238	122,048
Other invested assets:
Available for sale, at fair value (cost: $28,887 and $33,174)	31,176	33,663
Total investments	1,703,036	1,439,186
Cash and cash equivalents	66,286	58,823
Restricted cash		113,696
Premiums receivable, net	113,218	56,586
Reinsurance receivables, net	142,828	125,718
Funds held by ceding insurers	28,047	25,176
Federal income taxes receivable	4,669	3,139
Deferred federal income taxes	26,884	20,250
Deferred acquisition costs	52,378	25,238
Intangible assets	30,630	17,636
Goodwill	7,134	4,820
Prepaid reinsurance premiums	34,619	4,725
Receivable for securities sold	997	60
Other assets	49,732	34,980
Total assets	2,260,458	1,930,033
Liabilities:
Unpaid losses and loss adjustment expenses	769,299	675,472
Unearned premiums	295,334	120,815
Ceded balances payable	18,938	2,800
Contingent commissions	13,923	12,985
Margin borrowing facilities	187,407	174,673
Other liabilities	44,302	34,998
Total liabilities	$ 1,329,203	$ 1,021,743
Commitments and contingencies (Note 11)
Shareholders' equity:
Ordinary shares, $0.0001 par value, 900,000,000 ordinary shares authorized; A ordinary shares issued: 16,741,806 and 16,331,577, respectively; A ordinary shares outstanding: 13,665,096 and 13,266,762 , respectively; B ordinary shares issued and outstanding: 12,061,370 and 12,061,370, respectively	$ 3	$ 3
Additional paid-in capital	528,259	519,590
Accumulated other comprehensive income, net of taxes	20,102	23,384
Retained earnings	484,628	466,717
Total shareholders' equity	931,255	908,290
Total liabilities and shareholders' equity	2,260,458	1,930,033
Ordinary Shares A
Shareholders' equity:
A ordinary shares in treasury, at cost: 3,076,710 and 3,064,815 shares, respectively	(101,737)	(101,404)
Total shareholders' equity	$ 2	$ 2

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Available for sale, amortized cost	$ 1,541,284	$ 1,272,948
Available for sale, at cost	103,019	99,297
Available for sale, at cost	$ 28,887	$ 33,174
Ordinary shares, par value	$ 0.0001	$ 0.0001
Ordinary shares, shares authorized	900,000,000	900,000,000
Ordinary Shares A
Ordinary shares, shares issued	16,741,806	16,331,577
Ordinary shares, shares outstanding	13,665,096	13,266,762
Treasury shares, cost	3,076,710	3,064,815
Ordinary Shares B
Ordinary shares, shares issued	12,061,370	12,061,370
Ordinary shares, shares outstanding	12,061,370	12,061,370

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues:
Gross premiums written	$ 166,515	$ 82,905	$ 309,384	$ 160,102
Net premiums written	146,005	76,372	272,109	149,233
Net premiums earned	128,877	66,017	256,214	133,561
Net investment income	9,141	7,677	17,382	15,961
Net realized investment gains:
Other than temporary impairment losses on investments	(1,898)	(37)	(2,238)	(62)
Other net realized investment gains	8,430	39,918	5,800	39,130
Total net realized investment gains (losses)	6,532	39,881	3,562	39,068
Other income	577	155	1,129	323
Total revenues	145,127	113,730	278,287	188,913
Losses and Expenses:
Net losses and loss adjustment expenses	79,560	38,270	149,179	76,842
Acquisition costs and other underwriting expenses	50,926	27,171	99,184	53,656
Corporate and other operating expenses	4,334	3,172	15,874	6,133
Interest expense	535	319	1,040	510
Income before income taxes	9,772	44,798	13,010	51,772
Income tax expense (benefit)	(1,345)	11,590	(4,901)	9,741
Net income	$ 11,117	$ 33,208	$ 17,911	$ 42,031
Net income
Basic	$ 0.44	$ 1.32	$ 0.70	$ 1.67
Diluted	$ 0.43	$ 1.31	$ 0.70	$ 1.66
Weighted-average number of shares outstanding
Basic	25,454,579	25,128,280	25,447,398	25,121,171
Diluted	25,680,997	25,312,938	25,659,869	25,301,783

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net income	$ 11,117	$ 33,208	$ 17,911	$ 42,031
Other comprehensive income (loss), net of taxes:
Unrealized holding gains (losses)	(7,087)	11,728	(730)	13,769
Portion of other-than-temporary impairment losses recognized in other comprehensive income (loss)	(1)	(2)		(3)
Reclassification adjustment for gains included in net income	(917)	(29,756)	(2,716)	(33,788)
Unrealized foreign currency translation gains (losses)	402	(21)	164	(5)
Other comprehensive income (loss), net of taxes	(7,603)	(18,051)	(3,282)	(20,027)
Comprehensive income (loss), net of taxes	$ 3,514	$ 15,157	$ 14,629	$ 22,004

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Additional Paid-in Capital	Accumulated other comprehensive income, net of deferred income tax	Retained Earnings	Treasury Shares	Ordinary Shares A	Ordinary Shares ATreasury Shares	Ordinary Shares B
Number at Dec. 31, 2013					3,059,371	16,200,406		12,061,370
Ordinary shares issued under share incentive plans						94,563
A ordinary shares purchased							5,444
Ordinary shares issued to directors						36,608
Number at Dec. 31, 2014					3,064,815	16,331,577		12,061,370
Balance at Dec. 31, 2013		$ 516,653	$ 54,028	$ 403,861	$ (101,265)	$ 2		$ 1
Other comprehensive income (loss):
Change in unrealized holding gains (losses)			(30,299)
Change in other than temporary impairment losses recognized in other comprehensive income			(4)
Unrealized foreign currency translation gains (losses)			(341)
Other comprehensive income (loss), net of taxes			(30,644)
A ordinary shares purchased, at cost							$ (139)
Share compensation plans		2,900
Net income				62,856
Tax benefit on share-based compensation expense		37
Balance at Dec. 31, 2014	$ 908,290	519,590	23,384	466,717	$ (101,404)	$ 2		$ 1
Ordinary shares issued under share incentive plans						124,482
A ordinary shares purchased							11,895
Ordinary shares issued to directors						18,045
Ordinary shares issued in connection with American Reliable Acquisition						267,702
Number at Jun. 30, 2015					3,076,710	16,741,806		12,061,370
Other comprehensive income (loss):
Change in unrealized holding gains (losses)			(3,441)
Change in other than temporary impairment losses recognized in other comprehensive income			(5)
Unrealized foreign currency translation gains (losses)	164		164
Other comprehensive income (loss), net of taxes	(3,282)		(3,282)
A ordinary shares purchased, at cost							$ (333)
Share compensation plans		8,611
Net income	17,911			17,911
Tax benefit on share-based compensation expense		58
Balance at Jun. 30, 2015	$ 931,255	$ 528,259	$ 20,102	$ 484,628	$ (101,737)	$ 2		$ 1

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - Entity [Domain] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net income	$ 17,911	$ 42,031
Adjustments to reconcile net income to net cash provided by (used for) operating activities:
Amortization of value of business acquired	18,743
Amortization and depreciation	2,334	1,806
Restricted stock and stock option expense	8,611	1,683
Deferred federal income taxes	(3,515)	2,065
Amortization of bond premium and discount, net	7,188	3,700
Net realized investment gain	(3,562)	(39,068)
Equity in the earnings of a partnership	(1,342)
Changes in:
Premiums receivable, net	1,191	(20,571)
Reinsurance receivables, net	(4,387)	15,845
Funds held by ceding insurers	(2,863)	(7,160)
Unpaid losses and loss adjustment expenses	5,457	(24,871)
Unearned premiums	2,285	16,960
Ceded balances payable	2,919	719
Other assets and liabilities, net	(13,312)	(3,589)
Contingent commissions	(3,383)	(2,055)
Federal income tax receivable/payable	(1,530)	5,015
Deferred acquisition costs, net	(27,140)	(4,687)
Prepaid reinsurance premiums	13,612	(1,287)
Net cash provided by (used for) operating activities	19,217	(13,464)
Cash flows from investing activities:
Cash release from escrow for business acquisition	113,696
Acquisition of business, net of cash acquired	(92,336)
Proceeds from sale of fixed maturities	211,542	219,195
Proceeds from sale of equity securities	22,327	35,837
Proceeds from sale of preferred stock	1,540
Proceeds from maturity of fixed maturities	132,180	50,781
Proceeds from limited partnership distribution	4,287
Amounts paid in connection with derivatives	(521)	(10,640)
Purchases of fixed maturities	(393,932)	(271,496)
Purchases of equity securities	(22,996)	(27,798)
Purchases of other invested assets		(11,975)
Net cash used for investing activities	(24,213)	(16,096)
Cash flows from financing activities:
Net borrowings under margin borrowing facilities	12,734	42,560
Tax benefit on share-based compensation expense	58
Purchase of A ordinary shares	(333)	(139)
Net cash provided by financing activities	12,459	42,421
Net change in cash and cash equivalents	7,463	12,861
Cash and cash equivalents at beginning of period	58,823	105,492
Cash and cash equivalents at end of period	$ 66,286	$ 118,353

Principles of Consolidation and

Principles of Consolidation and Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Principles of Consolidation and Basis of Presentation	1. Principles of Consolidation and Basis of Presentation Global Indemnity plc (“Global Indemnity” or “the Company”) was incorporated on March 9, 2010 and is domiciled in Ireland. Global Indemnity replaced the Company’s predecessor, United America Indemnity, Ltd., as the ultimate parent company as a result of a re-domestication transaction in July, 2010. The Company’s A ordinary shares are publicly traded on the NASDAQ Global Select Market under the trading symbol “GBLI.” Starting in the 1 st The interim consolidated financial statements are unaudited, but have been prepared in conformity with United States of America generally accepted accounting principles (“GAAP”), which differs in certain respects from those principles followed in reports to insurance regulatory authorities. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The unaudited consolidated financial statements include all adjustments that are, in the opinion of management, of a normal recurring nature and are necessary for a fair statement of results for the interim periods. Results of operations for the quarters and six months ended June 30, 2015 and 2014 are not necessarily indicative of the results of a full year. The accompanying notes to the unaudited consolidated financial statements should be read in conjunction with the notes to the consolidated financial statements contained in the Company’s 2014 Annual Report on Form 10-K. The consolidated financial statements include the accounts of Global Indemnity and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

Acquisition

Acquisition	6 Months Ended
	Jun. 30, 2015
Acquisition	2. Acquisition On January 1, 2015, Global Indemnity Group, Inc., a subsidiary of the Company, acquired 100% of the voting equity interest of American Reliable Insurance Company (“American Reliable”) from American Bankers Insurance Group, Inc. by paying $113.7 million in cash and assuming $283.4 million of customary insurance related liabilities, obligations, and mandates. Per the American Reliable Stock Purchase Agreement, the ultimate purchase price is subject to (i) accounting procedures that were performed in 2015 to determine GAAP book value and (ii) indemnification on future development on recorded loss and loss adjustment expenses as of December 31, 2014. In accordance with the Stock Purchase Agreement, on the third calendar year following the calendar year of the closing, if loss and loss adjustment expenses for accident years 2014 and prior are lower than recorded unpaid loss and loss adjustment expenses as of December 31, 2014, Global Indemnity Group, Inc. will pay the variance to American Bankers Group, Inc. Conversely, if loss and loss adjustment expenses for accident years 2014 and prior exceed recorded unpaid loss and loss adjustment expenses as of December 31, 2014, American Bankers Group, Inc. will pay the variance to Global Indemnity Group, Inc. The Company’s current estimate of the purchase price, based on available financial information, is approximately $105.8 million. The results of American Reliable’s operations have been included in the Company’s consolidated financial statements since the date of the acquisition on January 1, 2015. The purchase of American Reliable expands Global Indemnity’s product offerings. American Reliable is a specialty company that distributes personal lines products written on an admitted basis that are unusual and harder to place. It complements Global Indemnity’s existing US Insurance Operations that primarily distribute commercial lines products on an excess and surplus lines basis. American Reliable is domiciled in Arizona and as such is subject to its state insurance department regulations. For the quarter and six months ended June 30, 2015, American Reliable had total revenues of $67.3 million and $132.6 million, respectively, and pre-tax income (loss) of $(4.0) million and $2.7 million, respectively. These amounts are included in the Company’s results of operations for the quarter and six months ended June 30, 2015. The following table presents the Company’s unaudited pro forma consolidated results of operations for the quarters and six months ended June 30, 2015 and 2014 as if the acquisition had occurred on January 1, 2014 instead of January 1, 2015. Pro Forma Quarters Ended June 30, Six Months Ended June 30, (Dollars in thousands except per share data) 2015 2014 2015 2014 Total Revenue $ 145,125 $ 181,080 $ 278,282 $ 320,262 Net Income $ 11,117 $ 35,108 $ 23,306 $ 43,361 Net Income per share $ 0.43 $ 1.37 $ 0.91 $ 1.70 The pro forma results were calculated by applying the Company’s accounting policies and adjusting the result of American Reliable to reflect (i) impact of intercompany reinsurance with Global Indemnity Reinsurance Company, Ltd. (“Global Indemnity Reinsurance”), (ii) the impact on interest expense resulting from changes to the Company’s capital structure in connection with the acquisition, (iii) impact on investment income from the acquisition date adjustments to fair value of investments, (iv) impact on underwriting expenses from the acquisition date adjustments to fair value of deferred acquisition costs and intangible assets, (v) impact of excluding transaction costs related to the acquisition and (vi) the tax effects of the above adjustments. The pro forma results do not include any anticipated cost synergies or other effects of the integration of American Reliable. Such pro forma amounts are not indicative of the results that actually would have occurred had the acquisition been completed on January 1, 2014, nor are they indicative of the future operating results of the combined company. The following table summarizes the estimated fair value of the assets acquired and liabilities assumed at the date of the acquisition: (Dollars in thousands) ASSETS: Investments $ 226,458 Cash and cash equivalents 21,360 Premiums receivables, net 25,941 Accounts receivable 17,129 Reinsurance receivables 12,723 Prepaid Reinsurance Premiums 43,506 Intangible assets 32,000 Deferred federal income taxes 1,246 Other assets 6,550 Total assets 386,913 LIABILITIES: Unearned premiums 172,234 Unpaid losses and loss adjustment expenses 88,370 Reinsurance balances payable 13,219 Contingent commission 3,876 Other liabilities 5,685 Total liabilities 283,384 Estimated fair value of net assets acquired 103,529 Purchase price 105,843 Goodwill $ 2,314 The Company is still in the process of valuing the assets acquired and liabilities assumed. As a result, the allocation of the acquisition consideration is subject to change. During the quarter ended June 30, 2015, the Company obtained additional information which changed the estimated fair value of the assets acquired and liabilities assumed from the values originally reported at March 31, 2015. During the quarter ended June 30, 2015, the Company re-estimated loss reserves, received a revised independent valuation, and continued to evaluate the asset and liability balances. This resulted in accounts receivable decreasing by $0.2 million, intangible assets related to the value of business acquired decreasing by $0.5 million, deferred federal income taxes increasing by $0.1 million, unpaid losses and loss adjustment expenses decreasing by $0.6 million, other liabilities decreasing by $0.3 million, and goodwill increasing by $0.1 million. The Company does not believe that this change in estimate is material to the overall fair value of the assets acquired and liabilities assumed. The transaction is being accounted for using the purchase method of accounting. The assets and liabilities acquired by the Company were adjusted to estimated fair value. The $2.3 million excess of cash and acquisition cost over the estimated fair value of assets acquired was recognized as goodwill. Under the purchase method of accounting, goodwill is not amortized but is tested for impairment at least annually. Goodwill of $2.3 million, arising from the acquisition, consists largely of the synergies and economies of scales expected from combining the operations of Global Indemnity and American Reliable. The Company has determined that the goodwill of $2.3 million will be assigned to the Personal Lines segment. There is no tax goodwill. An identification and valuation of intangible assets was performed that resulted in the recognition of intangible assets of $32.0 million with values assigned as follows: (Dollars in thousands) Description Useful Life Amount State insurance licenses Indefinite $ 5,000 Value of business acquired < 1 year 25,500 Agent relationships 10 years 900 Trade name 7 - 8 years 600 $ 32,000 Intangible assets arising from the acquisition will be deductible for income tax purposes over 15 years. The fair value, gross contractual amounts due, and contractual cash flows not expected to be collected of acquired receivables are as follows: (Dollars in thousands) Fair Gross Contractual Premium receivables $ 25,941 $ 26,896 $ 955 Accounts receivable 17,129 17,129 — Reinsurance receivables 12,723 12,723 — In connection with the acquisition, the Company agreed to pay to Fox Paine & Company, LLC (“Fox Paine”) an investment banking fee of 3% of the amount paid plus the additional capital required to operate American Reliable on a standalone basis and a $1.5 million investment advisory fee, which in the aggregate, totaled $6.5 million. This amount is included in corporate and other operating expenses on the Company’s Consolidated Statements of Operations during the six months ended June 30, 2015. As payment for these fees, 267,702 A ordinary shares of Global Indemnity were issued under the Global Indemnity plc Share Incentive Plan in May, 2015. These shares will be registered but cannot be sold until the earlier of five years or a change of control. See Note 12 for additional information on the Global Indemnity plc Share Incentive Plan. Additional costs, mainly professional fees, of $5.1 million were incurred in connection with the acquisition of American Reliable. Of this amount, $3.3 million was recorded as corporate and other operating expenses on the Company’s Consolidated Statements of Operations during the year ended December 31, 2014 and $1.8 million was recorded as corporate and other operating expenses on the Company’s Consolidated Statements of Operation during the six months ended June 30, 2015. During the six months ended June 30, 2015, the Company paid approximately $1.6 million in employee compensation related cost, which were related to periods prior to the Acquisition. These costs were accrued by American Reliable and were included in the fair value of net assets acquired by Global Indemnity Group, Inc. on January 1, 2015. Geographic Concentration The following table sets forth the geographic distribution of American Reliable’s gross premiums written, excluding business that is ceded under a 100% quota share reinsurance agreement to American Bankers Insurance Company of Florida, for the year ended December 31, 2014: Year Ended December 31, (Dollars in thousands) Amount Percent Texas $ 32,760 12.3 % California 25,556 9.6 North Carolina 23,040 8.7 Arizona 17,722 6.7 Louisiana 17,522 6.6 New York 13,408 5.0 Florida 12,361 4.6 Oklahoma 9,977 3.7 Georgia 8,768 3.3 New Jersey 6,925 2.6 Subtotal 168,039 63.1 All other states 98,264 36.9 Total $ 266,303 100.0 % Marketing and Distribution American Reliable distributes its insurance products primarily through a group of approximately 290 general and specialty agents and 332 retail agents in Arizona and New Mexico. Of the Company’s non-affiliated general and specialty agents, the top five accounted for 23.9% of American Reliable’s gross premiums written for the year ended December 31, 2014. One agency represented 6.8% of American Reliable’s gross premiums written for the year ended December 31, 2014. There is no agency which accounted for more than 10.0% of American Reliable’s revenue for the year ended December 31, 2014. Dividend Limitations The maximum amount of dividends, which can be paid by Arizona domiciled insurance companies without prior approval of the Insurance Commissioner, is subject to certain regulatory restrictions relating to statutory surplus. Specifically, an insurance company may pay dividends equal to the lesser of net income or 10% of its statutory surplus without specific approval from the Insurance Commissioner. At December 31, 2014, the maximum dividend, which may be distributed without approval in 2015, is zero. Dividends in excess of this amount are considered extraordinary. Reinsurance As a result of the acquisition, the following reinsurance treaties were entered into: Earthquake Property Catastrophe Excess of Loss American Reliable Property Per Risk Excess of Loss 100% Ceded Quota Share to American Bankers 100% Assumed Quota Share from American Bankers The effect of reinsurance on premiums written and earned by American Reliable is as follows: (Dollars in thousands) Written Earned For the quarter ended June 30, 2015: Direct business $ 64,319 $ 64,033 Reinsurance assumed 24,685 23,494 Reinsurance ceded (16,177 ) (21,609 ) Net premiums $ 72,827 $ 65,918 (Dollars in thousands) Written Earned For the six months ended June 30, 2015: Direct business $ 114,155 $ 125,026 Reinsurance assumed 48,060 47,193 Reinsurance ceded (28,732 ) (42,879 ) Net premiums $ 133,483 $ 129,340 Commitments As a result of the acquisition, the Company assumed operating leases related to the operations of American Reliable. Rental expense under these operating leases was $0.2 million and $0.5 million for the quarter and six months ended June 30, 2015, respectively. At June 30, 2015, future minimum cash payments under non-cancelable operating leases related to the operations of American Reliable were as follows: (Dollars in thousands) July 1, 2015 to June 30, 2016 $ 896 July 1, 2016 to June 30, 2017 806 July 1, 2017 to June 30, 2018 783 July 1, 2018 to June 30, 2019 358 Total $ 2,843 At the time of the acquisition, one of the Company’s policy administration systems was under development. In April, 2015, the Company entered into an agreement with an unrelated third party to build out a rate, quote, bind and issue application for the Company’s agriculture products. This project has an estimated cost of approximately $2.6 million plus reimbursable travel and related expenses.

Investments

Investments	6 Months Ended
	Jun. 30, 2015
Investments	3. Investments The amortized cost and estimated fair value of investments were as follows as of June 30, 2015 and December 31, 2014: (Dollars in thousands) Amortized Cost Gross Gross Estimated Fair Value Other than As of June 30, 2015 Fixed maturities: U.S. treasury and agency obligations $ 88,489 $ 1,811 $ (44 ) $ 90,256 $ — Obligations of states and political subdivisions 230,355 3,027 (850 ) 232,532 — Mortgage-backed securities 201,267 3,193 (480 ) 203,980 — Asset-backed securities 257,401 963 (193 ) 258,171 (11 ) Commercial mortgage-backed securities 171,467 115 (614 ) 170,968 — Corporate bonds 453,473 2,838 (463 ) 455,848 — Foreign corporate bonds 138,832 660 (625 ) 138,867 — Total fixed maturities 1,541,284 12,607 (3,269 ) 1,550,622 (11 ) Common stock 103,019 20,496 (2,277 ) 121,238 — Other invested assets 28,887 2,289 — 31,176 — Total $ 1,673,190 $ 35,392 $ (5,546 ) $ 1,703,036 $ (11 ) (1) Represents the total amount of other than temporary impairment losses relating to factors other than credit losses recognized in accumulated other comprehensive income (“AOCI”). (Dollars in thousands) Amortized Cost Gross Gross Estimated Fair Value Other than As of December 31, 2014 Fixed maturities: U.S. treasury and agency obligations $ 78,569 $ 2,281 $ (83 ) $ 80,767 $ — Obligations of states and political subdivisions 188,452 3,718 (697 ) 191,473 — Mortgage-backed securities 205,814 3,709 (764 ) 208,759 (4 ) Asset-backed securities 177,853 713 (303 ) 178,263 (13 ) Commercial mortgage-backed securities 133,984 21 (847 ) 133,158 — Corporate bonds 380,704 3,421 (709 ) 383,416 — Foreign corporate bonds 107,572 625 (558 ) 107,639 — Total fixed maturities 1,272,948 14,488 (3,961 ) 1,283,475 (17 ) Common stock 99,297 25,689 (2,938 ) 122,048 — Other invested assets 33,174 489 — 33,663 — Total $ 1,405,419 $ 40,666 $ (6,899 ) $ 1,439,186 $ (17 ) (2) Represents the total amount of other than temporary impairment losses relating to factors other than credit losses recognized in accumulated other comprehensive income (“AOCI”). Excluding U.S. treasuries and agency bonds, the Company did not hold any debt or equity investments in a single issuer that was in excess of 4% of shareholders’ equity at June 30, 2015 or December 31, 2014. The amortized cost and estimated fair value of the Company’s fixed maturities portfolio classified as available for sale at June 30, 2015, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. (Dollars in thousands) Amortized Cost Estimated Due in one year or less $ 112,314 $ 113,541 Due in one year through five years 704,693 708,465 Due in five years through ten years 67,546 68,320 Due in ten years through fifteen years 8,818 9,246 Due after fifteen years 17,778 17,931 Mortgage-backed securities 201,267 203,980 Asset-backed securities 257,401 258,171 Commercial mortgage-backed securities 171,467 170,968 Total $ 1,541,284 $ 1,550,622 The following table contains an analysis of the Company’s securities with gross unrealized losses, categorized by the period that the securities were in a continuous loss position as of June 30, 2015: Less than 12 months 12 months or longer (1) Total (Dollars in thousands) Fair Value Gross Fair Value Gross Fair Value Gross Fixed maturities: U.S. treasury and agency obligations $ 504 $ — $ 3,376 $ (44 ) $ 3,880 $ (44 ) Obligations of states and political subdivisions 41,091 (716 ) 10,266 (134 ) 51,357 (850 ) Mortgage-backed securities 62,327 (357 ) 11,650 (123 ) 73,977 (480 ) Asset-backed securities 62,664 (193 ) — — 62,664 (193 ) Commercial mortgage-backed securities 96,171 (448 ) 14,862 (166 ) 111,033 (614 ) Corporate bonds 130,759 (446 ) 2,978 (17 ) 133,737 (463 ) Foreign corporate bonds 62,754 (625 ) — — 62,754 (625 ) Total fixed maturities 456,270 (2,785 ) 43,132 (484 ) 499,402 (3,269 ) Common stock 32,507 (2,277 ) — — 32,507 (2,277 ) Total $ 488,777 $ (5,062 ) $ 43,132 $ (484 ) $ 531,909 $ (5,546 ) (1) Fixed maturities in a gross unrealized loss position for twelve months or longer are primarily comprised of non-credit losses on investment grade securities where management does not intend to sell, and it is more likely than not that the Company will not be forced to sell the security before recovery. The Company has analyzed these securities and has determined that they are not other than temporarily impaired. The following table contains an analysis of the Company’s securities with gross unrealized losses, categorized by the period that the securities were in a continuous loss position as of December 31, 2014: Less than 12 months 12 months or longer (2) Total (Dollars in thousands) Fair Value Gross Fair Value Gross Fair Value Gross Fixed maturities: U.S. treasury and agency obligations $ 11,728 $ (9 ) $ 3,343 $ (74 ) $ 15,071 $ (83 ) Obligations of states and political subdivisions 28,684 (314 ) 28,061 (383 ) 56,745 (697 ) Mortgage-backed securities 2,818 (7 ) 51,203 (757 ) 54,021 (764 ) Asset-backed securities 92,123 (283 ) 1,683 (20 ) 93,806 (303 ) Commercial mortgage-backed securities 92,664 (525 ) 26,280 (322 ) 118,944 (847 ) Corporate bonds 144,505 (656 ) 3,216 (53 ) 147,721 (709 ) Foreign corporate bonds 60,518 (558 ) — — 60,518 (558 ) Total fixed maturities 433,040 (2,352 ) 113,786 (1,609 ) 546,826 (3,961 ) Common stock 20,002 (2,808 ) 1,577 (130 ) 21,579 (2,938 ) Total $ 453,042 $ (5,160 ) $ 115,363 $ (1,739 ) $ 568,405 $ (6,899 ) (2) Fixed maturities in a gross unrealized loss position for twelve months or longer are primarily comprised of non-credit losses on investment grade securities where management does not intend to sell, and it is more likely than not that the Company will not be forced to sell the security before recovery. The Company has analyzed these securities and has determined that they are not other than temporarily impaired. The Company regularly performs various analytical valuation procedures with respect to its investments, including reviewing each fixed maturity security in an unrealized loss position to assess whether the security is a candidate for credit loss. Specifically, the Company considers credit rating, market price, and issuer specific financial information, among other factors, to assess the likelihood of collection of all principal and interest as contractually due. Securities for which the Company determines that a credit loss is likely are subjected to further analysis through discounted cash flow testing to estimate the credit loss to be recognized in earnings, if any. The specific methodologies and significant assumptions used by asset class are discussed below. Upon identification of such securities and periodically thereafter, a detailed review is performed to determine whether the decline is considered other than temporary. This review includes an analysis of several factors, including but not limited to, the credit ratings and cash flows of the securities and the magnitude and length of time that the fair value of such securities is below cost. For fixed maturities, the factors considered in reaching the conclusion that a decline below cost is other than temporary include, among others, whether: (1) the issuer is in financial distress; (2) the investment is secured; (3) a significant credit rating action occurred; (4) scheduled interest payments were delayed or missed; (5) changes in laws or regulations have affected an issuer or industry; (6) the investment has an unrealized loss and was identified by the Company’s investment manager as an investment to be sold before recovery or maturity; and (7) the investment failed cash flow projection testing to determine if anticipated principal and interest payments will be realized. According to accounting guidance for debt securities in an unrealized loss position, the Company is required to assess whether it has the intent to sell the debt security or more likely than not will be required to sell the debt security before the anticipated recovery. If either of these conditions is met, the Company must recognize an other than temporary impairment with the entire unrealized loss being recorded through earnings. For debt securities in an unrealized loss position not meeting these conditions, the Company assesses whether the impairment of a security is other than temporary. If the impairment is deemed to be other than temporary, the Company must separate the other than temporary impairment into two components: the amount representing the credit loss and the amount related to all other factors, such as changes in interest rates. The credit loss represents the portion of the amortized book value in excess of the net present value of the projected future cash flows discounted at the effective interest rate implicit in the debt security prior to impairment. The credit loss component of the other than temporary impairment is recorded through earnings, whereas the amount relating to factors other than credit losses is recorded in other comprehensive income, net of taxes. For equity securities, management carefully reviews all securities with unrealized losses to determine if a security should be impaired and further focuses on securities that have either: (1) persisted with unrealized losses for more than twelve consecutive months or (2) the value of the investment has been 20% or more below cost for six continuous months or more. The amount of any write-down, including those that are deemed to be other than temporary, is included in earnings as a realized loss in the period in which the impairment arose. The following is a description, by asset type, of the methodology and significant inputs that the Company used to measure the amount of credit loss recognized in earnings, if any: U.S. treasury and agency obligations Obligations of states and political subdivisions Mortgage-backed securities (“MBS”) – Asset-backed securities (“ABS”) – Commercial mortgage-backed securities (“CMBS”) – Corporate bonds – Foreign bonds Common stock The Company recorded the following other than temporary impairments (“OTTI”) on its investment portfolio for the quarters and six months ended June 30, 2015 and 2014: Quarters Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2015 2014 2015 2014 Fixed maturities: OTTI losses, gross $ (13 ) $ — $ (23 ) $ (25 ) Portion of loss recognized in other comprehensive income (pre-tax) — — — — Net impairment losses on fixed maturities recognized in earnings (13 ) — (23 ) (25 ) Equity securities (1,885 ) (37 ) (2,215 ) (37 ) Total $ (1,898 ) $ (37 ) $ (2,238 ) $ (62 ) The following table is an analysis of the credit losses recognized in earnings on fixed maturities held by the Company for the quarters and six months ended June 30, 2015 and 2014 for which a portion of the OTTI loss was recognized in other comprehensive income. Quarters Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2015 2014 2015 2014 Balance at beginning of period $ 50 $ 54 $ 50 $ 54 Additions where no OTTI was previously recorded — — — — Additions where an OTTI was previously recorded — — — — Reductions for securities for which the company intends to sell or more likely than not will be required to sell before recovery — — — — Reductions reflecting increases in expected cash flows to be collected — — — — Reductions for securities sold during the period (19 ) (4 ) (19 ) (4 ) Balance at end of period $ 31 $ 50 $ 31 $ 50 Accumulated Other Comprehensive Income, Net of Tax Accumulated other comprehensive income, net of tax, as of June 30, 2015 and December 31, 2014 was as follows: (Dollars in thousands) June 30, December 31, Net unrealized gains from: Fixed maturities $ 9,338 $ 10,527 Common stock 18,219 22,751 Other 935 369 Deferred taxes (8,390 ) (10,263 ) Accumulated other comprehensive income, net of tax $ 20,102 $ 23,384 The following tables present the changes in accumulated other comprehensive income, net of tax, by component for the quarters and six months ended June 30, 2015 and 2014: Quarter Ended June 30, 2015 (Dollars in thousands) Unrealized Gains Foreign Currency Accumulated Other Beginning balance $ 28,206 $ (501) $ 27,705 Other comprehensive income (loss) before reclassification (6,845 ) 159 (6,686 ) Amounts reclassified from accumulated other comprehensive income (loss) (1,160 ) 243 (917 ) Other comprehensive income (loss) (8,005 ) 402 (7,603 ) Ending balance $ 20,201 $ (99 ) $ 20,102 Quarter Ended June 30, 2014 (Dollars in thousands) Unrealized Gains Foreign Currency Accumulated Other Beginning balance $ 51,958 $ 94 $ 52,052 Other comprehensive income (loss) before reclassification 11,664 41 11,705 Amounts reclassified from accumulated other comprehensive income (loss) (29,694 ) (62 ) (29,756 ) Other comprehensive income (loss) (18,030 ) (21 ) (18,051 ) Ending balance $ 33,928 $ 73 $ 34,001 Six Months Ended June 30, 2015 (Dollars in thousands) Unrealized Gains Foreign Currency Accumulated Other Beginning balance $ 23,647 $ (263 ) $ 23,384 Other comprehensive income (loss) before reclassification (404 ) (162 ) (566 ) Amounts reclassified from accumulated other comprehensive income (loss) (3,042 ) 326 (2,716 ) Other comprehensive income (loss) (3,446 ) 164 (3,282 ) Ending balance $ 20,201 $ (99 ) $ 20,102 Six Months Ended June 30, 2014 (Dollars in thousands) Unrealized Gains Foreign Currency Accumulated Other Beginning balance $ 53,950 $ 78 $ 54,028 Other comprehensive income (loss) before reclassification 13,691 70 13,761 Amounts reclassified from accumulated other comprehensive income (loss) (33,713 ) (75 ) (33,788 ) Other comprehensive income (loss) (20,022 ) (5 ) (20,027 ) Ending balance $ 33,928 $ 73 $ 34,001 The reclassifications out of accumulated other comprehensive income for the quarters and six months ended June 30, 2015 and 2014 were as follows: Amounts Reclassified from Quarters Ended June 30, (Dollars in thousands) Details about Accumulated Other Comprehensive Affected Line Item in the Consolidated Statements of Operations 2015 2014 Unrealized gains and losses on available for sale securities Other net realized investment gains $ (3,745 ) $ (45,840 ) Other than temporary impairment losses on investments 1,897 37 Total before tax (1,848 ) (45,803 ) Income tax expense (benefit) 688 16,109 Net of tax $ (1,160 ) $ (29,694 ) Foreign Currency Items Other net realized investment (gains) losses $ 373 $ (96 ) Income tax expense (benefit) (130 ) 34 Net of tax $ 243 $ (62 ) Total reclassifications Net of tax $ (917 ) $ (29,756 ) Amounts Reclassified from Six Months Ended June 30, (Dollars in thousands) Details about Accumulated Other Comprehensive Affected Line Item in the Consolidated Statements of Operations 2015 2014 Unrealized gains and losses on available for sale securities Other net realized investment gains $ (7,126 ) $ (51,374 ) Other than temporary impairment losses on investments 2,238 62 Total before tax (4,888 ) (51,312 ) Income tax expense (benefit) 1,846 17,599 Net of tax $ (3,042 ) $ (33,713 ) Foreign Currency Items Other net realized investment (gains) losses $ 501 $ (116 ) Income tax expense (benefit) (175 ) 41 Net of tax $ 326 $ (75 ) Total reclassifications Net of tax $ (2,716 ) $ (33,788 ) Net Realized Investment Gains The components of net realized investment gains for the quarters and six months ended June 30, 2015 and 2014 were as follows: Quarters Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2015 2014 2015 2014 Fixed maturities: Gross realized gains $ 746 $ 719 $ 1,479 $ 2,389 Gross realized losses (110 ) (96 ) (241 ) (226 ) Net realized gains 636 623 1,238 2,163 Common stock: Gross realized gains 3,371 45,868 5,923 49,875 Gross realized losses (2,532 ) (592 ) (2,870 ) (610 ) Net realized gains 839 45,276 3,053 49,265 Preferred stock: Gross realized gains — — 96 — Gross realized losses — — — — Net realized gains — — 96 — Derivatives: Gross realized gains 6,353 — 1,873 — Gross realized losses (1,296 ) (6,018 ) (2,698 ) (12,360 ) Net realized gains (losses) 5,057 (6,018 ) (825 ) (12,360 ) Total net realized investment gains $ 6,532 $ 39,881 $ 3,562 $ 39,068 The proceeds from sales of available-for-sale securities resulting in net realized investment gains for the six months ended June 30, 2015 and 2014 were as follows: Six Months Ended (Dollars in thousands) 2015 2014 Fixed maturities $ 211,542 $ 219,195 Equity securities 22,327 35,837 Preferred stock 1,540 — Net Investment Income The sources of net investment income for the quarters and six months ended June 30, 2015 and 2014 were as follows: Quarters Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2015 2014 2015 2014 Fixed maturities $ 8,022 $ 6,797 $ 16,036 $ 14,052 Equity securities 924 1,941 1,716 4,081 Cash and cash equivalents 9 10 27 28 Other invested assets 1,089 87 1,342 87 Total investment income 10,044 8,835 19,121 18,248 Investment expense (903 ) (1,158 ) (1,739 ) (2,287 ) Net investment income $ 9,141 $ 7,677 $ 17,382 $ 15,961 The Company’s total investment return on a pre-tax basis for the quarters and six months ended June 30, 2015 and 2014 were as follows: Quarters Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2015 2014 2015 2014 Net investment income $ 9,141 $ 7,677 $ 17,382 $ 15,961 Net realized investment gains 6,532 39,881 3,562 39,068 Change in unrealized investment losses (9,752 ) (29,203 ) (5,155 ) (31,774 ) Net realized and unrealized investment returns (3,220 ) 10,678 (1,593 ) 7,294 Total investment return $ 5,921 $ 18,355 $ 15,789 $ 23,255 Total investment return % (1) 0.3 % 1.2 % 0.9 % 1.5 % Average investment portfolio (2) $ 1,776,326 $ 1,577,630 $ 1,758,103 $ 1,585,304 (1) Not annualized. (2) Average of total cash and invested assets, net of receivable/payable for securities purchased and sold, as of the beginning and end of the period. Insurance Enhanced Asset Backed and Credit Securities As of June 30, 2015, the Company held insurance enhanced asset backed and credit securities with a market value of approximately $41.1 million. Approximately $17.5 million of these securities were tax free municipal bonds, which represented approximately 1.0% of the Company’s total cash and invested assets, net of payable/receivable for securities purchased and sold. These securities had an average rating of “A+.” Approximately $6.5 million of these bonds are pre-refunded with U.S. treasury securities, of which $0.1 million are backed by financial guarantors, meaning that funds have been set aside in escrow to satisfy the future interest and principal obligations of the bond. Of the remaining $11.0 million of insurance enhanced municipal bonds, $0.5 million would have carried a lower credit rating had they not been insured. The following table provides a breakdown of the ratings for these municipal bonds with and without insurance. (Dollars in thousands) Ratings with Ratings without Rating Insurance Insurance AA $ 515 $ — BB — 515 Total $ 515 $ 515 A summary of the Company’s insurance enhanced municipal bonds that are backed by financial guarantors, including the pre-refunded bonds that are escrowed in U.S. government obligations, as of June 30, 2015, is as follows: (Dollars in thousands) Financial Guarantor Total Pre-refunded Government Exposure Net of Pre-refunded Securities Ambac Financial Group $ 1,688 $ 138 $ — $ 1,550 Assured Guaranty Corporation 3,692 — — 3,692 Municipal Bond Insurance Association 5,159 — — 5,159 Gov’t National Housing Association 552 — 552 — Total backed by financial guarantors 11,091 138 552 10,401 Other credit enhanced municipal bonds 6,363 6,363 — — Total $ 17,454 $ 6,501 $ 552 $ 10,401 In addition to the tax-free municipal bonds, the Company held $23.6 million of asset-backed and taxable municipal bonds, which represented approximately 1.3% of the Company’s total invested assets, net of receivable/payable for securities purchased and sold. The financial guarantors of the Company’s $23.6 million of insurance enhanced asset-backed and taxable municipal securities include Municipal Bond Insurance Association ($8.8 million), Ambac Financial Group ($1.5 million), Assured Guaranty Corporation ($11.0 million), Financial Guaranty Insurance Group ($0.3 million) and Build America Mutual ($2.0 million). The Company had no direct investments in the entities that have provided financial guarantees or other credit support to any security held by the Company at June 30, 2015. Bonds Held on Deposit Certain cash balances, cash equivalents, equity securities and bonds available for sale were deposited with various governmental authorities in accordance with statutory requirements, were held as collateral pursuant to borrowing arrangements, or were held in trust pursuant to intercompany reinsurance agreements. The fair values were as follows as of June 30, 2015 and December 31, 2014: Estimated Fair Value (Dollars in thousands) June 30, December 31, On deposit with governmental authorities $ 39,965 $ 32,790 Intercompany trusts held for the benefit of U.S. policyholders 548,038 495,301 Held in trust pursuant to third party requirements 93,053 95,828 Letter of credit held for third party requirements 6,112 9,340 Securities held as collateral for borrowing arrangements (1) 238,283 222,809 Total $ 925,451 $ 856,068 (1) Amount required to collateralize margin borrowing facilities.

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 30, 2015
Derivative Instruments	4. Derivative Instruments Interest rate swaps are used by the Company primarily to reduce risks from changes in interest rates. Under the terms of the interest rate swaps, the Company agrees with another party to exchange, at specified intervals, the difference between fixed rate and floating rate interest amounts as calculated by reference to an agreed notional amount. The Company accounts for the interest rate swaps as non-hedge instruments and recognizes the fair value of the interest rate swaps in other assets or other liabilities on the consolidated balance sheets with the changes in fair value recognized as net realized investment gains in the consolidated statement of operations. The estimated fair value of the interest rate swaps, which is primarily derived from the forward interest rate curve, is based on the valuation received from a third party financial institution. The following table summarizes information on the location and the gross amount of the derivatives’ fair value on the consolidated balance sheets as of June 30, 2015 and December 31, 2014: (Dollars in thousands) June 30, 2015 December 31, 2014 Derivatives Not Designated as Hedging Instruments under ASC 815 Balance Sheet Notional Fair Value Notional Fair Value Interest rate swap agreements Other liabilities $ 200,000 $ (11,801 ) $ 200,000 $ (13,675 ) The following table summarizes the net gain and losses included in the consolidated statement of operations for changes in the fair value of the derivatives and the periodic net interest settlements under the derivatives for the quarters and six months ended June 30, 2015 and 2014: Quarters Ended June 30, Six Months Ended June 30, (Dollars in thousands) Statement of Operations Line 2015 2014 2015 2014 Interest rate swap agreements Net realized investment gains $ 5,057 $ (6,018 ) $ (825 ) $ (12,360 ) As of June 30, 2015, the Company is due receivables of $5.3 million for collateral posted and $13.1 million for margin calls made in connection with the interest rate swaps. These amounts are included in other assets on the consolidated balance sheets.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Measurements	5. Fair Value Measurements The accounting standards related to fair value measurements define fair value, establish a framework for measuring fair value, outline a fair value hierarchy based on inputs used to measure fair value, and enhance disclosure requirements for fair value measurements. These standards do not change existing guidance as to whether or not an instrument is carried at fair value. The Company has determined that its fair value measurements are in accordance with the requirements of these accounting standards. The Company’s invested assets and derivative instruments are carried at their fair value and are categorized based upon a fair value hierarchy: • Level 1—inputs utilize quoted prices (unadjusted) in active markets for identical assets that the Company has the ability to access at the measurement date. • Level 2—inputs utilize other than quoted prices included in Level 1 that are observable for similar assets, either directly or indirectly. • Level 3—inputs are unobservable for the asset, and include situations where there is little, if any, market activity for the asset. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset. Both observable and unobservable inputs may be used to determine the fair value of positions that the Company has classified within the Level 3 category. As a result, the unrealized gains and losses for invested assets within the Level 3 category presented in the tables below may include changes in fair value that are attributed to both observable (e.g., changes in market interest rates) and unobservable (e.g., changes in unobservable long-dated volatilities) inputs. The following table presents information about the Company’s invested assets and derivative instruments measured at fair value on a recurring basis as of June 30, 2015 and December 31, 2014, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value. As of June 30, 2015 Fair Value Measurements (Dollars in thousands) Level 1 Level 2 Level 3 Total Assets: Fixed maturities: U.S. treasury and agency obligations $ 80,256 $ 10,000 $ — $ 90,256 Obligations of states and political subdivisions — 232,532 — 232,532 Mortgage-backed securities — 203,980 — 203,980 Commercial mortgage-backed securities — 170,968 — 170,968 Asset-backed securities — 258,171 — 258,171 Corporate bonds — 455,848 — 455,848 Foreign corporate bonds — 138,867 — 138,867 Total fixed maturities 80,256 1,470,366 — 1,550,622 Common stock 121,238 — — 121,238 Other invested assets — — 31,176 31,176 Total assets measured at fair value $ 201,494 $ 1,470,366 $ 31,176 $ 1,703,036 Liabilities: Derivative instruments $ — $ 11,801 $ — $ 11,801 Total liabilities measured at fair value $ — $ 11,801 $ — $ 11,801 As of December 31, 2014 Fair Value Measurements (Dollars in thousands) Level 1 Level 2 Level 3 Total Assets: Fixed maturities: U.S. treasury and agency obligations $ 74,765 $ 6,002 $ — $ 80,767 Obligations of states and political subdivisions — 191,473 — 191,473 Mortgage-backed securities — 208,759 — 208,759 Commercial mortgage-backed securities — 133,158 — 133,158 Asset-backed securities — 178,263 — 178,263 Corporate bonds — 383,416 — 383,416 Foreign corporate bonds — 107,639 — 107,639 Total fixed maturities 74,765 1,208,710 — 1,283,475 Common stock 122,048 — — 122,048 Other invested assets — — 33,663 33,663 Total assets measured at fair value $ 196,813 $ 1,208,710 $ 33,663 $ 1,439,186 Liabilities: Derivative instruments $ — $ 13,675 $ — $ 13,675 Total liabilities measured at fair value $ — $ 13,675 $ — $ 13,675 The securities classified as Level 1 in the above table consist of U.S. Treasuries and equity securities actively traded on an exchange. The securities classified as Level 2 in the above table consist primarily of fixed maturity securities and derivative instruments. Based on the typical trading volumes and the lack of quoted market prices for fixed maturities, security prices are derived through recent reported trades for identical or similar securities making adjustments through the reporting date based upon available market observable information. If there are no recent reported trades, matrix or model processes are used to develop a security price where future cash flow expectations are developed based upon collateral performance and discounted at an estimated market rate. Included in the pricing of asset-backed securities, collateralized mortgage obligations, and mortgage-backed securities are estimates of the rate of future prepayments of principal over the remaining life of the securities. Such estimates are derived based on the characteristics of the underlying structure and prepayment speeds previously experienced at the interest rate levels projected for the underlying collateral. The estimated fair value of the interest rate swaps is obtained from a third party financial institution who utilizes observable inputs such as the forward interest rate curve. There were no transfers between Level 1 and Level 2 during the quarters and six months ended June 30, 2015 or 2014. The following table presents changes in Level 3 investments measured at fair value on a recurring basis for the quarters and six months ended June 30, 2015 and 2014: Quarters Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2015 2014 2015 2014 Beginning balance $ 29,992 $ 5,364 $ 33,663 $ 3,489 Total gains (losses) (realized / unrealized): Included in accumulated other comprehensive income (loss) 95 (204 ) 458 (430 ) Investment Income: Equity in Limited Partnership 1,089 — 1,342 — Purchases — 9,874 — 11,975 Distributions — — (4,287 ) — Ending balance $ 31,176 $ 15,034 $ 31,176 $ 15,034 The investments classified as Level 3 in the above table relate to investments in limited partnerships. The Company does not have access to daily valuations; therefore, the estimated fair values of the limited partnerships are measured utilizing net asset value, typically on a quarter lag, as a practical expedient for the limited partnerships. The Company uses the equity method to account for an investment in a limited partnership where its ownership interest exceeds 3%. The equity method of accounting for an investment in a limited partnership requires changes in fair market value to be reflected in the income statement. The Company records the changes in fair market value for investments in limited partnerships accounted for under the equity method to investment income. The change in fair market value included in investment income for this limited partnership during the second quarter of 2015 was $1.1 million. Fair Value of Alternative Investments Included in “Other invested assets” in the fair value hierarchy at June 30, 2015 and December 31, 2014 are limited liability partnerships measured at fair value. The following table provides the fair value and future funding commitments related to these investments at June 30, 2015 and December 31, 2014. June 30, 2015 December 31, 2014 (Dollars in thousands) Fair Value Future Fair Value Future Equity Fund, LP (1) $ 3,325 $ 2,391 $ 3,401 $ 2,436 Real Estate Fund, LP (2) — — — — European Non-Performing Loan Fund, LP (3) 27,851 23,564 30,262 20,064 Total $ 31,176 $ 25,955 $ 33,663 $ 22,500 (1) This limited partnership invests in companies from various business sectors whereby the partnership has acquired control of the operating business as a lead or organizing investor. The Company does not have the contractual option to redeem its limited partnership interest but receives distributions based on the liquidation of the underlying assets. The Company does not have the ability to sell or transfer its limited partnership interest without consent from the general partner. (2) This limited partnership invests in real estate assets through a combination of direct or indirect investments in partnerships, limited liability companies, mortgage loans, and lines of credit. The Company does not have the contractual option to redeem its limited partnership interest but receives distributions based on the liquidation of the underlying assets. The Company does not have the ability to sell or transfer its limited partnership interest without consent from the general partner. The Company continues to hold an investment in this limited partnership and has written the fair value down to zero. (3) This limited partnership invests in distressed securities and assets through senior and subordinated, secured and unsecured debt and equity, in both public and private large-cap and middle-market companies. The Company does not have the contractual option to redeem its limited partnership interest but receives distributions based on the liquidation of the underlying assets. The Company does not have the ability to sell or transfer its limited partnership interest without consent from the general partner. Pricing The Company’s pricing vendors provide prices for all investment categories except for investments in limited partnerships which are measured utilizing net asset values as a practical expedient. One vendor provides prices for equity securities and all fixed maturity categories. The following is a description of the valuation methodologies used by the Company’s pricing vendors for investment securities carried at fair value: • Equity prices are received from all primary and secondary exchanges. • Corporate and agency bonds are evaluated by utilizing a multi-dimensional relational model. For bonds with early redemption options, an option adjusted spread model is utilized. Both asset classes use standard inputs and incorporate security set up, defined sector breakdown, benchmark yields, apply base spreads, yield to maturity, and adjust for corporate actions. • Data from commercial vendors is aggregated with market information, then converted into a prepayment/spread/LIBOR curve model used for commercial mortgage obligations (“CMO”). CMOs are categorized with mortgage-backed securities in the tables listed above. For ABS’s, data derived from market information along with trustee and servicer reports is converted into spreads to interpolated swap yield curve. For both asset classes, evaluations utilize standard inputs plus new issue data, monthly payment information, and collateral performance. The evaluated pricing models incorporate discount rates, loan level information, prepayment speeds, treasury benchmarks, and LIBOR and swap curves. • For municipals, a multi-dimensional relational model is used to evaluate securities within this asset class. The evaluated pricing models for this asset class incorporate security set-up, benchmark yields, apply base spreads, yield to worst or market convention, ratings updates, prepayment schedules and adjustments for material events notices. • U.S. treasuries are evaluated by obtaining feeds from a number of live data sources including active market makers and inter-dealer brokers. • For MBSs, a matrix model correlation to TBA (a forward MBS trade) or benchmarking is utilized to value a security. The Company performs certain procedures to validate whether the pricing information received from the pricing vendors is reasonable, to ensure that the fair value determination is consistent with accounting guidance, and to ensure that its assets are properly classified in the fair value hierarchy. The Company’s procedures include, but are not limited to: • Reviewing periodic reports provided by the Investment Manager that provide information regarding rating changes and securities placed on watch. This procedure allows the Company to understand why a particular security’s market value may have changed. • Understanding and periodically evaluating the various pricing methods and procedures used by the Company’s pricing vendors to ensure that investments are properly classified within the fair value hierarchy. • On a quarterly basis, the Company corroborates investment security prices received from its pricing vendors by obtaining pricing from a second pricing vendor for a sample of securities. During the quarters and six months ended June 30, 2015 and 2014, the Company has not adjusted quotes or prices obtained from the pricing vendors.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Taxes	6. Income Taxes The statutory income tax rates of the countries where the Company does business are 35% in the United States, 0% in Bermuda, 0% in the Cayman Islands, 0% in Gibraltar, 29.22% in the Duchy of Luxembourg, and 25% on non-trading income, 33% on capital gains and 12.5% on trading income in the Republic of Ireland. The statutory income tax rate of each country is applied against the expected annual taxable income of the Company in each country to estimate the annual income tax expense. Generally, during interim periods, the Company will divide total estimated annual income tax expense by total estimated annual pre-tax income to determine the expected annual income tax rate used to compute the income tax provision. The expected annual income tax rate is then applied against interim pre-tax income, excluding net realized gains and losses and limited partnership distributions, and that amount is then added to the actual income taxes on net realized gains and losses, discrete items and limited partnership distributions. However, when there is significant volatility in the expected effective tax rate, the Company records its actual income tax provision in lieu of the estimated effective income tax rate. In 2015, the Company recorded its income tax provision using a discrete period computation because a reliable estimate of an effective tax rate could not be made. The Company’s income before income taxes from its non-U.S. subsidiaries and U.S. subsidiaries, including the results of the quota share and stop-loss agreements between Global Indemnity Reinsurance and the Insurance Operations, for the quarters and six months ended June 30, 2015 and 2014 were as follows: Quarter Ended June 30, 2015: (Dollars in thousands) Non-U.S. Subsidiaries U.S. Subsidiaries Eliminations Total Revenues: Gross premiums written $ 83,601 $ 148,038 $ (65,124 ) $ 166,515 Net premiums written $ 83,601 $ 62,404 $ — $ 146,005 Net premiums earned $ 72,471 $ 56,406 $ — $ 128,877 Net investment income 11,320 4,325 (6,504 ) 9,141 Net realized investment gains (losses) (118 ) 6,650 — 6,532 Other income 13 564 — 577 Total revenues 83,686 67,945 (6,504 ) 145,127 Losses and Expenses: Net losses and loss adjustment expenses 39,621 39,939 — 79,560 Acquisition costs and other underwriting expenses 31,570 19,356 — 50,926 Corporate and other operating expenses (334 ) 4,668 — 4,334 Interest expense 430 6,609 (6,504 ) 535 Income (loss) before income taxes $ 12,399 $ (2,627 ) $ — $ 9,772 Quarter Ended June 30, 2014: (Dollars in thousands) Non-U.S. Subsidiaries U.S. Subsidiaries Eliminations Total Revenues: Gross premiums written $ 51,328 $ 60,555 $ (28,978 ) $ 82,905 Net premiums written $ 50,312 $ 26,060 $ — $ 76,372 Net premiums earned $ 40,959 $ 25,058 $ — $ 66,017 Net investment income 7,583 4,905 (4,811 ) 7,677 Net realized investment gains (losses) (225 ) 40,106 — 39,881 Other income (loss) (5 ) 160 — 155 Total revenues 48,312 70,229 (4,811 ) 113,730 Losses and Expenses: Net losses and loss adjustment expenses 12,921 25,349 — 38,270 Acquisition costs and other underwriting expenses 17,081 10,090 — 27,171 Corporate and other operating expenses 1,511 1,661 — 3,172 Interest expense 214 4,916 (4,811 ) 319 Income before income taxes $ 16,585 $ 28,213 $ — $ 44,798 Six Months Ended June 30, 2015: (Dollars in thousands) Non-U.S. Subsidiaries U.S. Subsidiaries Eliminations Total Revenues: Gross premiums written $ 222,397 $ 271,042 $ (184,055 ) $ 309,384 Net premiums written $ 222,358 $ 49,751 $ — $ 272,109 Net premiums earned $ 144,135 $ 112,079 $ — $ 256,214 Net investment income 21,502 8,811 (12,931 ) 17,382 Net realized investment gains (losses) (387 ) 3,949 — 3,562 Other income (loss) (66 ) 1,195 — 1,129 Total revenues 165,184 126,034 (12,931 ) 278,287 Losses and Expenses: Net losses and loss adjustment expenses 75,805 73,374 — 149,179 Acquisition costs and other underwriting expenses 61,864 37,320 — 99,184 Corporate and other operating expenses 1,747 14,127 — 15,874 Interest expense 824 13,147 (12,931 ) 1,040 Income (loss) before income taxes $ 24,944 $ (11,934 ) $ — $ 13,010 Six Months Ended June 30, 2014: (Dollars in thousands) Non-U.S. Subsidiaries U.S. Subsidiaries Eliminations Total Revenues: Gross premiums written $ 101,327 $ 113,547 $ (54,772 ) $ 160,102 Net premiums written $ 100,311 $ 48,922 $ — $ 149,233 Net premiums earned $ 83,313 $ 50,248 $ — $ 133,561 Net investment income 15,234 10,325 (9,598 ) 15,961 Net realized investment gains 1,027 38,041 — 39,068 Other income (loss) (3 ) 326 — 323 Total revenues 99,571 98,940 (9,598 ) 188,913 Losses and Expenses: Net losses and loss adjustment expenses 32,879 43,963 — 76,842 Acquisition costs and other underwriting expenses 34,875 18,781 — 53,656 Corporate and other operating expenses 2,878 3,255 — 6,133 Interest expense 454 9,654 (9,598 ) 510 Income before income taxes $ 28,485 $ 23,287 $ — $ 51,772 The following table summarizes the components of income tax expense (benefit): Quarters Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2015 2014 2015 2014 Current income tax expense: Foreign $ 70 $ 61 $ 161 $ 125 U.S. Federal (2,657 ) 7,821 (1,547 ) 7,551 Total current income tax expense (benefit) (2,587 ) 7,882 (1,386 ) 7,676 Deferred income tax expense (benefit): U.S. Federal 1,242 3,708 (3,515 ) 2,065 Total deferred income tax expense (benefit) 1,242 3,708 (3,515 ) 2,065 Total income tax expense (benefit) $ (1,345 ) $ 11,590 $ (4,901 ) $ 9,741 The following table summarizes the differences between the tax provision for financial statement purposes and the expected tax provision at the weighted average tax rate: Quarters Ended June 30, 2015 2014 (Dollars in thousands) Amount % of Pre- Tax Income Amount % of Pre- Tax Income Expected tax provision at weighted average rate $ (848 ) (8.7 %) $ 9,925 22.2 % Adjustments: Tax exempt interest (83 ) (0.8 ) (155 ) (0.3 ) Dividend exclusion (258 ) (2.6 ) (479 ) (1.1 ) Effective tax rate adjustment — — 1,811 4.0 Other (156 ) (1.6 ) 488 1.1 Actual tax on continuing operations $ (1,345 ) (13.7 %) $ 11,590 25.9 % The effective income tax benefit rate for the quarter ended June 30, 2015 was 13.7%, compared to an effective income tax expense rate of 25.9%, for the quarter ended June 30, 2014. The decrease in the effective tax rate is primarily due to large capital gains in the quarter ended June 30, 2014. Taxes were computed using a discrete period computation because a reliable estimate of an effective tax rate could not be made. Six Months Ended June 30, 2015 2014 (Dollars in thousands) Amount % of Pre- Tax Income Amount % of Pre- Tax Income Expected tax provision at weighted average rate $ (4,015 ) (30.9 %) $ 8,263 16.0 % Adjustments: Tax exempt interest (219 ) (1.7 ) (370 ) (0.7 ) Dividend exclusion (413 ) (3.2 ) (957 ) (1.9 ) Effective tax rate adjustment — — 2,312 4.5 Other (254 ) (2.0 ) 493 0.9 Income tax expense (benefit) $ (4,901 ) (37.8 %) $ 9,741 18.8 % The effective income tax benefit rate for the six months ended June 30, 2015 was 37.8%, compared to an effective income tax expense rate of 18.8% for the six months ended June 30, 2014. The decrease in the effective tax rate is primarily due to expenses related to the acquisition of American Reliable Insurance Company in 2015 and large capital gains in 2014. Taxes were computed using a discrete period computation because a reliable estimate of an effective tax rate could not be made. The tax effects of temporary differences that give rise to significant portions of the net deferred tax assets at June 30, 2015 and December 31, 2014 are presented below: (Dollars in thousands) June 30, December 31, Deferred tax assets: Discounted unpaid losses and loss adjustment expenses $ 8,351 $ 7,492 Unearned premiums 8,061 3,409 Alternative minimum tax credit carryover 10,473 10,473 Partnership K1 basis differences 145 145 Capital gain on derivative instruments 4,130 4,786 Investment impairments 1,097 379 Stock options 2,306 2,048 Deferred acquisition costs 1,606 187 Stat-to-GAAP reinsurance reserve 1,424 1,424 Intercompany transfers 1,807 1,919 Other 4,082 3,050 Total deferred tax assets 43,482 35,312 Deferred tax liabilities: Intangible assets 6,218 3,220 Unrealized gain on securities available-for-sale and investments in limited partnerships included in accumulated other comprehensive income 8,390 10,263 Investment basis differences 979 692 Depreciation and amortization 129 16 Other 882 871 Total deferred tax liabilities 16,598 15,062 Total net deferred tax assets $ 26,884 $ 20,250 Management believes it is more likely than not that the deferred tax assets will be fully utilized in future years. As a result, the Company has not recorded a valuation allowance at June 30, 2015 and December 31, 2014. The Company has an alternative minimum tax credit carry forward of $10.5 million and $10.5 million as of June 30, 2015 and December 31, 2014, respectively, which can be carried forward indefinitely. The company has no net operating loss (“NOL”) carryforward as of June 30, 2015 or December 31, 2014.

Liability for Unpaid Losses and

Liability for Unpaid Losses and Loss Adjustment Expenses	6 Months Ended
	Jun. 30, 2015
Liability for Unpaid Losses and Loss Adjustment Expenses	7. Liability for Unpaid Losses and Loss Adjustment Expenses Activity in the liability for unpaid losses and loss adjustment expenses is summarized as follows: Quarters Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2015 2014 2015 2014 Balance at beginning of period $ 770,119 $ 779,047 $ 675,472 $ 779,466 Less: Ceded reinsurance receivables 140,508 195,533 123,201 192,491 Net balance at beginning of period 629,611 583,514 552,271 586,975 Purchased reserves, gross (584 ) — 88,370 — Less: Purchased reserves ceded — — 11,681 — Purchased reserves, net (584 ) — 76,689 — Incurred losses and loss adjustment expenses related to: Current year 84,724 42,298 157,838 82,964 Prior years (5,164 ) (4,028 ) (8,659 ) (6,122 ) Total incurred losses and loss adjustment expenses 79,560 38,270 149,179 76,842 Paid losses and loss adjustment expenses related to: Current year 45,379 15,785 60,061 23,997 Prior years 32,406 30,402 87,276 64,223 Total paid losses and loss adjustment expenses 77,785 46,187 147,337 88,220 Net balance at end of period 630,802 575,597 630,802 575,597 Plus: Ceded reinsurance receivables 138,497 178,998 138,497 178,998 Balance at end of period $ 769,299 $ 754,595 $ 769,299 $ 754,595 When analyzing loss reserves and prior year development, the Company considers many factors, including the frequency and severity of claims, loss trends, case reserve settlements that may have resulted in significant development, and any other additional or pertinent factors that may impact reserve estimates. In the second quarter of 2015, the Company decreased its prior accident year loss reserves by $5.2 million, which consisted of a $3.6 million decrease related to Commercial Lines and a $1.6 million decrease related to Reinsurance Operations. The $3.6 million decrease related to Commercial Lines primarily consisted of the following: • Professional: • General Liability: The $1.6 million decrease related to Reinsurance Operations was primarily due to less severity on property than expected in accident years 2011 through 2014 due to catastrophe losses developing better than anticipated. In the second quarter of 2014, the Company reduced its prior accident year loss reserves by $4.0 million, which consisted of a $3.0 million decrease related to Commercial Lines and a $1.0 million decrease related to Reinsurance Operations. The $3.0 million decrease related to Commercial Lines primarily consisted of the following: • General liability: • Asbestos: • Professional: • Other: The $1.0 million decrease related to Reinsurance Operations primarily consisted of the following: • Property: • Commercial Auto Liability: In the first six months of 2015, the Company decreased its prior accident year loss reserves by $8.7 million, which consisted of a $5.6 million decrease related to Commercial Lines and a $3.1 million decrease related to Reinsurance Operations. The $5.6 million decrease related to Commercial Lines primarily consisted of the following: • Property: • Umbrella: • Professional: • General Liability: The $3.1 million decrease related to Reinsurance Operations was primarily due to less severity on property than expected in accident years 2011 through 2014 due to catastrophe losses developing better than anticipated. In the first six months of 2014, the Company reduced its prior accident year loss reserves by $6.1 million, which consisted of a $5.0 million decrease related to Commercial Lines and a $1.1 million decrease related to Reinsurance Operations. The $5.0 million decrease related to Commercial Lines primarily consisted of the following: • Asbestos: • Professional: The $1.1 million decrease related to Reinsurance Operations primarily consisted of the following: • Property: • Commercial Auto Liability:

Debt

Debt	6 Months Ended
	Jun. 30, 2015
Debt	8. Debt The amount outstanding on the Company’s margin borrowing facilities was $187.4 million and $174.7 million as of June 30, 2015 and December 31, 2014, respectively. The borrowing rate for each facility is tied to LIBOR and is currently approximately 1%. These facilities are due on demand. The borrowings are subject to maintenance margin, which is a minimum account balance that must be maintained. A decline in market conditions could require an additional deposit of collateral. As of June 30, 2015, approximately $238.3 million in securities were deposited as collateral to support the borrowing.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2015
Shareholders' Equity	9. Shareholders’ Equity Repurchases of the Company’s A ordinary shares The following table provides information with respect to the A ordinary shares that were surrendered or repurchased during the quarter ended June 30, 2015: Period (1) Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Plan or Program May 1-31, 2015 596 (2) $ 27.01 — Total 596 $ 27.01 — (1) Based on settlement date. (2) Surrendered by employees as payment of taxes withheld on the vesting of restricted A ordinary shares. No shares were repurchased during the quarter ended June 30, 2014. Please see Note 11 of the notes to the consolidated financial statements in Item 8 Part II of the Company’s 2014 Annual Report on Form 10-K for more information on the Company’s repurchase program.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2015
Related Party Transactions	10. Related Party Transactions Fox Paine & Company As of June 30, 2015, Fox Paine beneficially owned shares having approximately 93% of the Company’s total outstanding voting power. Fox Paine has the right to appoint a number of the Company’s Directors equal in aggregate to the pro rata percentage of the voting shares of the Company beneficially held by Fox Paine for so long as Fox Paine holds an aggregate of 25% or more of the voting power in the Company. Fox Paine controls the election of all of the Company’s Directors due to its controlling share ownership. The Company’s Chairman is a member of Fox Paine. The Company relies on Fox Paine to provide management services and other services related to the operations of the Company. At June 30, 2015 and December 31, 2014, Global Indemnity Reinsurance was a limited partner in Fox Paine Capital Fund, II, which is managed by Fox Paine. This investment was originally made by United National Insurance Company in June 2000 and pre-dates the September 5, 2003 acquisition by Fox Paine of Wind River Investment Corporation, which was the predecessor holding company for United National Insurance Company. The Company’s investment in this limited partnership was valued at $3.3 million and $3.4 million at June 30, 2015 and December 31, 2014, respectively. At June 30, 2015, the Company had an unfunded capital commitment of $2.4 million to the partnership. There were no distributions received from the limited partnership during the second quarter of 2015 or 2014. During the six months ended June 30, 2015, the Company received a distribution of $0.8 million. There were no distributions received from the limited partnership during the six months ended June 30, 2014. The Company relies on Fox Paine to provide management services and other services related to the operations of the Company. The Company incurred management fees of $0.5 million in each of the quarters ended June 30, 2015 and 2014 and $1.0 million in each of the six months ended June 30, 2015 and 2014 as part of the annual management fee paid to Fox Paine. As of June 30, 2015 and December 31, 2014, unpaid management fees, which were included in other liabilities on the consolidated balance sheets, were $1.6 million and $0.6 million, respectively. In connection with the acquisition, the Company agreed to pay to Fox Paine an investment banking fee of 3% of the amount paid plus the additional capital required to operate American Reliable on a standalone basis and a $1.5 million investment advisory fee, which in the aggregate, totaled $6.5 million. This amount is included in corporate and other operating expenses on the Company’s Consolidated Statements of Operations during the six months ended June 30, 2015. As payment for these fees, 267,702 A ordinary shares of Global Indemnity were issued under the Global Indemnity plc Share Incentive Plan in May, 2015. These shares will be registered but cannot be sold until the earlier of five years or a change of control. See Note 12 for additional information on the Global Indemnity plc Share Incentive Plan. Cozen O’Connor The Company incurred $0.2 million and $0.06 million for legal services rendered by Cozen O’Connor during the quarters ended June 30, 2015 and 2014, respectively. The Company incurred $0.3 million and $0.09 million for legal services rendered by Cozen O’Connor during the six months ended June 30, 2015 and 2014, respectively. Stephen A. Cozen, the chairman of Cozen O’Connor, is a member of the Company’s Board of Directors. Crystal & Company The Company incurred brokerage fees with Crystal & Company, an insurance broker, of $0.06 million during each of the quarters ended June 30, 2015 and 2014 and $0.1 million during each of the six months ended June 30, 2015 and 2014. James W. Crystal, the chairman and chief executive officer of Crystal & Company, is a member of the Company’s Board of Directors. Hiscox Insurance Company (Bermuda) Ltd. Global Indemnity Reinsurance is a participant in a reinsurance agreement with Hiscox Insurance Company (Bermuda) Ltd. (“Hiscox Bermuda”) effective January 1, 2013. Steve Green, the President of Global Indemnity Reinsurance, was a member of Hiscox Bermuda’s Board of Directors until May, 2014. The Company estimated that the following earned premium and incurred losses related to the agreement have been assumed by Global Indemnity Reinsurance from Hiscox Bermuda: Quarters Ended June 30, (Dollars in thousands) 2015 2014 Assumed earned premium $ 886 $ 1,802 Assumed losses and loss adjustment expenses 239 541 Six Months Ended June 30, (Dollars in thousands) 2015 2014 Assumed earned premium $ 2,248 $ 2,816 Assumed losses and loss adjustment expenses 643 845 Net balances due to Global Indemnity Reinsurance under this agreement are as follows: (Dollars in thousands) June 30, 2015 December 31, Net receivable balance $ 174 $ 2,897

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies	11. Commitments and Contingencies Legal Proceedings The Company is, from time to time, involved in various legal proceedings in the ordinary course of business. The Company maintains insurance and reinsurance coverage for such risks in amounts that it considers adequate. However, there can be no assurance that the insurance and reinsurance coverage that the Company maintains is sufficient or will be available in adequate amounts or at a reasonable cost. The Company does not believe that the resolution of any currently pending legal proceedings, either individually or taken as a whole, will have a material adverse effect on its business, results of operations, cash flows, or financial condition. There is a greater potential for disputes with reinsurers who are in runoff. Some of the Company’s reinsurers’ have operations that are in runoff, and therefore, the Company closely monitors those relationships. The Company anticipates that, similar to the rest of the insurance and reinsurance industry, it will continue to be subject to litigation and arbitration proceedings in the ordinary course of business. Commitments During 2014, the Company entered into a $50 million commitment to purchase an alternative investment vehicle which is comprised of European non-performing loans. As of June 30, 2015, the Company has funded $26.5 million of this commitment leaving $23.6 million as unfunded. At June 30, 2015, the Company had an unfunded capital commitment of $2.4 million related to its investment in Fox Paine Capital Fund, II. See Note 10 for additional information on the Company’s investment in Fox Paine Capital Fund, II.

Share-Based Compensation Plans

Share-Based Compensation Plans	6 Months Ended
	Jun. 30, 2015
Share-Based Compensation Plans	12. Share-Based Compensation Plans On June 11, 2014, the Company’s Shareholders approved the Global Indemnity plc Share Incentive Plan (the “Plan”). The previous share incentive plan, which became effective in 2003, expired per its terms on September 5, 2013. The purpose of the Plan is to give the Company a competitive advantage in attracting and retaining officers, employees, consultants and non-employee directors by offering stock options, restricted shares and other stock-based awards. Under the Plan, the Company may issue up to 2.0 million A ordinary shares pursuant to awards granted under the Plan. Options No stock options were awarded during the quarters ended June 30, 2015 and 2014. During the six months ended June 30, 2015, the company awarded 200,000 time based options with a strike price of $28.37 per share which vest one third on each of December 31, 2015, December 31, 2016, and December 31, 2017. During the six months ended June 30, 2014, the company awarded 25,000 time based options with a strike price of $24.00 per share which vest in February, 2017. No unvested stock options were forfeited during the quarters ended June 30, 2015 and 2014. Restricted Shares No restricted shares were issued to employees during the quarter ended June 30, 2015. During the quarter ended June 30, 2014, the Company issued 5,671 A ordinary shares, with a weighted average grant date value of $26.45 per share, to a key employee under the Plan. An additional 90,023 A ordinary shares, which were earned prior to April 1, 2014, were granted to key employees when the Company’s Plan was approved on June 11, 2014. During the six months ended June 30, 2015, the Company issued 138,507 A ordinary shares, with a weighted average grant date value of $28.37 per share, to key employees under the Plan. Of the shares granted during the six months ended June 30, 2015, 10,574 were granted to the Company’s Chief Executive Officer and vest 33 1/3 on each subsequent anniversary date of the grant for a period of three years subject to an accident year true-up of bonus year underwriting results as of the third anniversary of the grant and an additional 44,058 were granted to the Company’s Chief Executive Officer and other key employees which vest 100% on January 1, 2018. The remaining 83,875 shares were granted to key employees and will vest as follows: • 16.5%, 16.5%, and 17.0% of the granted stock vest on the first, second, and third anniversary of the grant, respectively. • 50% of granted stock vests 100% on the anniversary of the third year subject to accident year true-up of bonus year underwriting results and are subject to Board approval. During the six months ended June 30, 2014, the Company issued 95,694 A ordinary shares, with a weighted average grant date value of $25.37 per share, to key employees under the Plan. Of the shares granted during the six months ended June 30, 2014, 11,587 were granted to the Company’s Chief Executive Officer and vest 33 1/3 on each subsequent anniversary date of the grant for a period of three years subject to an accident year true-up of bonus year underwriting results as of the third anniversary of the grant. 5,671 shares were granted to a key employee and vest 33 1/3% on each subsequent anniversary date of the award for a period of three years. The remaining 78,166 shares were granted to key employees and will vest as follows: • 16.5%, 16.5%, and 17.0% of the granted stock vest on the first, second, and third anniversary of the grant, respectively. • 50% of granted stock vests 100% on the anniversary of the third year subject to accident year true-up of bonus year underwriting results and are subject to Board approval. During the quarters ended June 30, 2015 and 2014, the Company issued 8,798 and 9,250 A ordinary shares, respectively, at a weighted average grant date value of $28.08 and $25.99 per share, respectively, to non-employee directors of the Company under the Plan. During the six months ended June 30, 2015 and 2014, the Company issued 18,045 and 18,178 A ordinary shares, respectively, at a weighted average grant date value of $27.91 and $26.16 per share, respectively, to non-employee directors of the Company under the Plan. All of the shares issued to non-employee directors of the Company in 2015 and 2014 were fully vested but subject to certain restrictions. An additional 27,766 A ordinary shares were granted to non-employee directors on June 11, 2014. These shares were issued to non-employee directors prior to April 1, 2014 on the condition that the shareholders approve the Company’s revised share incentive plan at the Company’s 2014 annual shareholder meeting which occurred on June 11, 2014.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share	13. Earnings Per Share Earnings per share have been computed using the weighted average number of ordinary shares and ordinary share equivalents outstanding during the period. The following table sets forth the computation of basic and diluted earnings per share: (Dollars in thousands, Quarters Ended June 30, Six Months Ended June 30, except share and per share data) 2015 2014 2015 2014 Net income $ 11,117 $ 33,208 $ 17,911 $ 42,031 Basic earnings per share: Weighted average shares outstanding – basic 25,454,579 25,128,280 25,447,398 25,121,171 Net income per share $ 0.44 $ 1.32 $ 0.70 $ 1.67 Diluted earnings per share: Weighted average shares outstanding – diluted 25,680,997 25,312,938 25,659,869 25,301,783 Net income per share $ 0.43 $ 1.31 $ 0.70 $ 1.66 A reconciliation of weighted average shares for basic earnings per share to weighted average shares for diluted earnings per share is as follows: Quarters Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Weighted average shares for basic earnings per share 25,454,579 25,128,280 25,447,398 25,121,171 Non-vested restricted stock 122,141 77,880 109,308 77,125 Options 104,277 106,778 103,163 103,487 Weighted average shares for diluted earnings per share 25,680,997 25,312,938 25,659,869 25,301,783 The weighted average shares outstanding used to determine dilutive earnings per share for the quarters ended June 30, 2015 and 2014 do not include 512,500 and 37,500 shares, respectively, which were deemed to be anti-dilutive. The weighted average shares outstanding used to determine dilutive earnings per share for the six months ended June 30, 2015 and 2014 do not include 512,500 and 37,500 shares, respectively, which were deemed to be anti-dilutive.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2015
Segment Information	14. Segment Information The acquisition of American Reliable has impacted the way the Company manages and analyzes its operating results. The business acquired from American Reliable is considered to be a separate segment, Personal Lines. The Company now manages its business through three business segments: Commercial Lines, managed in Bala Cynwyd, PA, offers specialty property and casualty products designed for product lines such as Small Business Binding Authority, Property Brokerage, and Programs; Personal Lines, managed in Scottsdale, AZ, offers specialty personal lines and agricultural coverage; and Reinsurance Operations, managed in Bermuda, provides reinsurance solutions through brokers and primary writers including insurance and reinsurance companies. The following are tabulations of business segment information for the quarters and six months ended June 30, 2015 and 2014. Quarter Ended June 30, 2015: (Dollars in thousands) Commercial Personal Reinsurance Operations (2) Total Revenues: Gross premiums written $ 59,033 $ 89,004 $ 18,478 $ 166,515 Net premiums written $ 54,700 $ 72,827 $ 18,478 $ 146,005 Net premiums earned $ 49,614 $ 65,918 $ 13,345 $ 128,877 Other income 153 411 13 577 Total revenues 49,767 66,329 13,358 129,454 Losses and Expenses: Net losses and loss adjustment expenses 30,039 45,180 4,341 79,560 Acquisition costs and other underwriting expenses 20,008 (3) 26,065 (4) 4,853 50,926 Income (loss) from segments $ (280 ) $ (4,916 ) $ 4,164 $ (1,032 ) Unallocated Items: Net investment income 9,141 Net realized investment gains 6,532 Corporate and other operating expenses (4,334 ) Interest expense (535 ) Income before income taxes 9,772 Income tax benefit 1,345 Net income 11,117 Total assets $ 944,744 $ 554,302 $ 761,412 (5) $ 2,260,458 (1) Includes business ceded to the Company’s Reinsurance Operations. (2) External business only, excluding business assumed from affiliates. (3) Includes federal excise tax of $261 relating to cessions from Commercial Lines to Reinsurance Operations. (4) Includes federal excise tax of $330 relating to cessions from Personal Lines to Reinsurance Operations. (5) Comprised of Global Indemnity Reinsurance’s total assets less its investment in subsidiaries. Quarter Ended June 30, 2014: (Dollars in thousands) Commercial Reinsurance Operations (2) Total Revenues: Gross premiums written $ 60,556 $ 22,349 $ 82,905 Net premiums written $ 55,039 $ 21,333 $ 76,372 Net premiums earned $ 53,034 $ 12,983 $ 66,017 Other income (loss) 160 (5 ) 155 Total revenues 53,194 12,978 66,172 Losses and Expenses: Net losses and loss adjustment expenses 33,875 4,395 38,270 Acquisition costs and other underwriting expenses 22,560 (3) 4,611 27,171 Income (loss) from segments $ (3,241 ) $ 3,972 731 Unallocated Items: Net investment income 7,677 Net realized investment gains 39,881 Corporate and other operating expenses (3,172 ) Interest expense (319 ) Income before income taxes 44,798 Income tax expense (11,590 ) Net income $ 33,208 Total assets $ 1,316,314 $ 661,373 (4) $ 1,977,687 (1) Includes business ceded to the Company’s Reinsurance Operations. (2) External business only, excluding business assumed from affiliates. (3) Includes federal excise tax of $281 relating to cessions from Commercial Lines to Reinsurance Operations. (4) Comprised of Global Indemnity Reinsurance’s total assets less its investment in subsidiaries. Six Months Ended June 30, 2015: (Dollars in thousands) Commercial Personal Reinsurance Operations (2) Total Revenues: Gross premiums written $ 108,826 $ 162,215 $ 38,343 $ 309,384 Net premiums written $ 100,322 $ 133,483 $ 38,304 $ 272,109 Net premiums earned $ 100,328 $ 129,340 $ 26,546 $ 256,214 Other income (loss) 318 877 (66 ) 1,129 Total revenues 100,646 130,217 26,480 257,343 Losses and Expenses: Net losses and loss adjustment expenses 59,642 81,098 8,439 149,179 Acquisition costs and other underwriting expenses 40,631 (3) 48,811 (4) 9,742 99,184 Income from segments $ 373 $ 308 $ 8,299 $ 8,980 Unallocated Items: Net investment income 17,382 Net realized investment gains 3,562 Corporate and other operating expenses (15,874 ) Interest expense (1,040 ) Income before income taxes 13,010 Income tax benefit 4,901 Net income 17,911 Total assets $ 944,744 $ 554,302 $ 761,412 (5) $ 2,260,458 (1) Includes business ceded to the Company’s Reinsurance Operations. (2) External business only, excluding business assumed from affiliates. (3) Includes federal excise tax of $529 relating to cessions from Commercial Lines to Reinsurance Operations. (4) Includes federal excise tax of $647 relating to cessions from Personal Lines to Reinsurance Operations. (5) Comprised of Global Indemnity Reinsurance’s total assets less its investment in subsidiaries. Six Months Ended June 30, 2014: (Dollars in thousands) Commercial Reinsurance Operations (2) Total Revenues: Gross premiums written $ 113,548 $ 46,554 $ 160,102 Net premiums written $ 103,695 $ 45,538 $ 149,233 Net premiums earned $ 106,347 $ 27,214 $ 133,561 Other income (loss) 326 (3 ) 323 Total revenues 106,673 27,211 133,884 Losses and Expenses: Net losses and loss adjustment expenses 67,472 9,370 76,842 Acquisition costs and other underwriting expenses 44,278 (3) 9,378 53,656 Income (loss) from segments $ (5,077 ) $ 8,463 3,386 Unallocated Items: Net investment income 15,961 Net realized investment gains 39,068 Corporate and other operating expenses (6,133 ) Interest expense (510 ) Income before income taxes 51,772 Income tax expense (9,741 ) Net income $ 42,031 Total assets $ 1,316,314 $ 661,373 (4) $ 1,977,687 (1) Includes business ceded to the Company’s Reinsurance Operations. (2) External business only, excluding business assumed from affiliates. (3) Includes federal excise tax of $561 relating to cessions from Commercial Lines to Reinsurance Operations. (4) Comprised of Global Indemnity Reinsurance’s total assets less its investment in subsidiaries.

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jun. 30, 2015
New Accounting Pronouncements	15. New Accounting Pronouncements In May, 2015, the Financial Accounting Standards Board (“FASB”) issued new accounting guidance surrounding investments in certain entities that calculate net asset value per share. The new guidance removes the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient. It also removes the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the net asset value per share practical expedient. This guidance is effective for public business entities for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. In May, 2015, the FASB issued new accounting guidance surrounding short-duration contracts. The new guidance requires additional disclosure surrounding the liability for unpaid claims and claim adjustment expenses. This guidance is effective for public business entities for annual periods beginning after December 15, 2015 and interim periods within annual periods beginning after December 15, 2016. The Company does not expect either of these two new accounting pronouncements to have a material impact on the Company’s consolidated statements of financial position or results of operations.

Principles of Consolidation a23

Principles of Consolidation and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2015
Business Segments	Starting in the 1 st
Interim Consolidated Financial statements	The interim consolidated financial statements are unaudited, but have been prepared in conformity with United States of America generally accepted accounting principles (“GAAP”), which differs in certain respects from those principles followed in reports to insurance regulatory authorities. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The unaudited consolidated financial statements include all adjustments that are, in the opinion of management, of a normal recurring nature and are necessary for a fair statement of results for the interim periods. Results of operations for the quarters and six months ended June 30, 2015 and 2014 are not necessarily indicative of the results of a full year. The accompanying notes to the unaudited consolidated financial statements should be read in conjunction with the notes to the consolidated financial statements contained in the Company’s 2014 Annual Report on Form 10-K.
Intercompany Balances and Transactions	The consolidated financial statements include the accounts of Global Indemnity and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Investments	The Company regularly performs various analytical valuation procedures with respect to its investments, including reviewing each fixed maturity security in an unrealized loss position to assess whether the security is a candidate for credit loss. Specifically, the Company considers credit rating, market price, and issuer specific financial information, among other factors, to assess the likelihood of collection of all principal and interest as contractually due. Securities for which the Company determines that a credit loss is likely are subjected to further analysis through discounted cash flow testing to estimate the credit loss to be recognized in earnings, if any. The specific methodologies and significant assumptions used by asset class are discussed below. Upon identification of such securities and periodically thereafter, a detailed review is performed to determine whether the decline is considered other than temporary. This review includes an analysis of several factors, including but not limited to, the credit ratings and cash flows of the securities and the magnitude and length of time that the fair value of such securities is below cost. For fixed maturities, the factors considered in reaching the conclusion that a decline below cost is other than temporary include, among others, whether: (1) the issuer is in financial distress; (2) the investment is secured; (3) a significant credit rating action occurred; (4) scheduled interest payments were delayed or missed; (5) changes in laws or regulations have affected an issuer or industry; (6) the investment has an unrealized loss and was identified by the Company’s investment manager as an investment to be sold before recovery or maturity; and (7) the investment failed cash flow projection testing to determine if anticipated principal and interest payments will be realized. According to accounting guidance for debt securities in an unrealized loss position, the Company is required to assess whether it has the intent to sell the debt security or more likely than not will be required to sell the debt security before the anticipated recovery. If either of these conditions is met, the Company must recognize an other than temporary impairment with the entire unrealized loss being recorded through earnings. For debt securities in an unrealized loss position not meeting these conditions, the Company assesses whether the impairment of a security is other than temporary. If the impairment is deemed to be other than temporary, the Company must separate the other than temporary impairment into two components: the amount representing the credit loss and the amount related to all other factors, such as changes in interest rates. The credit loss represents the portion of the amortized book value in excess of the net present value of the projected future cash flows discounted at the effective interest rate implicit in the debt security prior to impairment. The credit loss component of the other than temporary impairment is recorded through earnings, whereas the amount relating to factors other than credit losses is recorded in other comprehensive income, net of taxes. For equity securities, management carefully reviews all securities with unrealized losses to determine if a security should be impaired and further focuses on securities that have either: (1) persisted with unrealized losses for more than twelve consecutive months or (2) the value of the investment has been 20% or more below cost for six continuous months or more.
Derivatives Policy	The Company accounts for the interest rate swaps as non-hedge instruments and recognizes the fair value of the interest rate swaps in other assets or other liabilities on the consolidated balance sheets with the changes in fair value recognized as net realized investment gains in the consolidated statement of operations. The estimated fair value of the interest rate swaps, which is primarily derived from the forward interest rate curve, is based on the valuation received from a third party financial institution.
Fair Value Measurement Policy	The Company’s invested assets and derivative instruments are carried at their fair value and are categorized based upon a fair value hierarchy: • Level 1 - inputs utilize quoted prices (unadjusted) in active markets for identical assets that the Company has the ability to access at the measurement date. • Level 2 - inputs utilize other than quoted prices included in Level 1 that are observable for similar assets, either directly or indirectly. • Level 3 - inputs are unobservable for the asset, and include situations where there is little, if any, market activity for the asset. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset. Both observable and unobservable inputs may be used to determine the fair value of positions that the Company has classified within the Level 3 category. As a result, the unrealized gains and losses for invested assets within the Level 3 category presented in the tables below may include changes in fair value that are attributed to both observable (e.g., changes in market interest rates) and unobservable (e.g., changes in unobservable long-dated volatilities) inputs. Based on the typical trading volumes and the lack of quoted market prices for fixed maturities, security prices are derived through recent reported trades for identical or similar securities making adjustments through the reporting date based upon available market observable information. If there are no recent reported trades, matrix or model processes are used to develop a security price where future cash flow expectations are developed based upon collateral performance and discounted at an estimated market rate. Included in the pricing of asset-backed securities, collateralized mortgage obligations, and mortgage-backed securities are estimates of the rate of future prepayments of principal over the remaining life of the securities. Such estimates are derived based on the characteristics of the underlying structure and prepayment speeds previously experienced at the interest rate levels projected for the underlying collateral. The estimated fair value of the interest rate swaps is obtained from a third party financial institution who utilizes observable inputs such as the forward interest rate curve. The Company’s pricing vendors provide prices for all investment categories except for investments in limited partnerships which are measured utilizing net asset values as a practical expedient. One vendor provides prices for equity securities and all fixed maturity categories. The following is a description of the valuation methodologies used by the Company’s pricing vendors for investment securities carried at fair value: • Equity prices are received from all primary and secondary exchanges. • Corporate and agency bonds are evaluated by utilizing a multi-dimensional relational model. For bonds with early redemption options, an option adjusted spread model is utilized. Both asset classes use standard inputs and incorporate security set up, defined sector breakdown, benchmark yields, apply base spreads, yield to maturity, and adjust for corporate actions. • A volatility-driven multi-dimensional spread table or an option-adjusted spread model and prepayment model is used for agency commercial mortgage obligations (“CMO”). For non-agency CMOs, a prepayment/spread/yield/price adjustment model is utilized. CMOs are categorized with mortgage-backed securities in the tables listed above. For ABSs, a multi-dimensional, collateral specific spread / prepayment speed tables is utilized. For both asset classes, evaluations utilize standard inputs plus new issue data, monthly payment information, and collateral performance. The evaluated pricing models incorporate security set-up, prepayment speeds, cash flows, and treasury swap curves and spread adjustments. • For municipals, a multi-dimensional relational model is used to evaluate securities within this asset class. The evaluated pricing models for this asset class incorporate security set-up, benchmark yields, apply base spreads, yield to worst or market convention, ratings updates, prepayment schedules and adjustments for material events notices. • U.S. treasuries are evaluated by obtaining feeds from a number of live data sources including active market makers and inter-dealer brokers. • For MBSs, a matrix model correlation to TBA (a forward MBS trade) or benchmarking is utilized to value a security.
Statutory Income Tax Rates	the Republic of Ireland. The statutory income tax rate of each country is applied against the expected annual taxable income of the Company in each country to estimate the annual income tax expense.
Loss Reserves and Prior Year Development	When analyzing loss reserves and prior year development, the Company considers many factors, including the frequency and severity of claims, loss trends, case reserve settlements that may have resulted in significant development, and any other additional or pertinent factors that may impact reserve estimates.
Earnings Per Share	Earnings per share have been computed using the weighted average number of ordinary shares and ordinary share equivalents outstanding during the period.

Acquisition (Tables)

Acquisition (Tables)	6 Months Ended
	Jun. 30, 2015
Schedule of Unaudited Pro Forma Consolidated Results of Operations	The following table presents the Company’s unaudited pro forma consolidated results of operations for the quarters and six months ended June 30, 2015 and 2014 as if the acquisition had occurred on January 1, 2014 instead of January 1, 2015. Pro Forma Quarters Ended June 30, Six Months Ended June 30, (Dollars in thousands except per share data) 2015 2014 2015 2014 Total Revenue $ 145,125 $ 181,080 $ 278,282 $ 320,262 Net Income $ 11,117 $ 35,108 $ 23,306 $ 43,361 Net Income per share $ 0.43 $ 1.37 $ 0.91 $ 1.70
Estimated Fair Value of Assets Acquired and Liabilities Assumed	The following table summarizes the estimated fair value of the assets acquired and liabilities assumed at the date of the acquisition: (Dollars in thousands) ASSETS: Investments $ 226,458 Cash and cash equivalents 21,360 Premiums receivables, net 25,941 Accounts receivable 17,129 Reinsurance receivables 12,723 Prepaid Reinsurance Premiums 43,506 Intangible assets 32,000 Deferred federal income taxes 1,246 Other assets 6,550 Total assets 386,913 LIABILITIES: Unearned premiums 172,234 Unpaid losses and loss adjustment expenses 88,370 Reinsurance balances payable 13,219 Contingent commission 3,876 Other liabilities 5,685 Total liabilities 283,384 Estimated fair value of net assets acquired 103,529 Purchase price 105,843 Goodwill $ 2,314
Valuation of Intangible Assets	An identification and valuation of intangible assets was performed that resulted in the recognition of intangible assets of $32.0 million with values assigned as follows: (Dollars in thousands) Description Useful Life Amount State insurance licenses Indefinite $ 5,000 Value of business acquired < 1 year 25,500 Agent relationships 10 years 900 Trade name 7 - 8 years 600 $ 32,000
Fair Value, Gross Contractual Amounts Due, and Contractual Cash Flows Not Expected to be Collected of Acquired Receivables	The fair value, gross contractual amounts due, and contractual cash flows not expected to be collected of acquired receivables are as follows: (Dollars in thousands) Fair Gross Contractual Premium receivables $ 25,941 $ 26,896 $ 955 Accounts receivable 17,129 17,129 — Reinsurance receivables 12,723 12,723 —
Geographical Distribution of American Reliable's Gross Premium Written	The following table sets forth the geographic distribution of American Reliable’s gross premiums written, excluding business that is ceded under a 100% quota share reinsurance agreement to American Bankers Insurance Company of Florida, for the year ended December 31, 2014: Year Ended December 31, (Dollars in thousands) Amount Percent Texas $ 32,760 12.3 % California 25,556 9.6 North Carolina 23,040 8.7 Arizona 17,722 6.7 Louisiana 17,522 6.6 New York 13,408 5.0 Florida 12,361 4.6 Oklahoma 9,977 3.7 Georgia 8,768 3.3 New Jersey 6,925 2.6 Subtotal 168,039 63.1 All other states 98,264 36.9 Total $ 266,303 100.0 %
Effect of Reinsurance on Premiums Written and Earned	The effect of reinsurance on premiums written and earned by American Reliable is as follows: (Dollars in thousands) Written Earned For the quarter ended June 30, 2015: Direct business $ 64,319 $ 64,033 Reinsurance assumed 24,685 23,494 Reinsurance ceded (16,177 ) (21,609 ) Net premiums $ 72,827 $ 65,918 (Dollars in thousands) Written Earned For the six months ended June 30, 2015: Direct business $ 114,155 $ 125,026 Reinsurance assumed 48,060 47,193 Reinsurance ceded (28,732 ) (42,879 ) Net premiums $ 133,483 $ 129,340
Future Minimum Cash Payments under Non-Cancelable Operating Leases	At June 30, 2015, future minimum cash payments under non-cancelable operating leases related to the operations of American Reliable were as follows: (Dollars in thousands) July 1, 2015 to June 30, 2016 $ 896 July 1, 2016 to June 30, 2017 806 July 1, 2017 to June 30, 2018 783 July 1, 2018 to June 30, 2019 358 Total $ 2,843

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2015
Schedule of Amortized Cost and Estimated Fair Value of Investments	The amortized cost and estimated fair value of investments were as follows as of June 30, 2015 and December 31, 2014: (Dollars in thousands) Amortized Cost Gross Gross Estimated Fair Value Other than As of June 30, 2015 Fixed maturities: U.S. treasury and agency obligations $ 88,489 $ 1,811 $ (44 ) $ 90,256 $ — Obligations of states and political subdivisions 230,355 3,027 (850 ) 232,532 — Mortgage-backed securities 201,267 3,193 (480 ) 203,980 — Asset-backed securities 257,401 963 (193 ) 258,171 (11 ) Commercial mortgage-backed securities 171,467 115 (614 ) 170,968 — Corporate bonds 453,473 2,838 (463 ) 455,848 — Foreign corporate bonds 138,832 660 (625 ) 138,867 — Total fixed maturities 1,541,284 12,607 (3,269 ) 1,550,622 (11 ) Common stock 103,019 20,496 (2,277 ) 121,238 — Other invested assets 28,887 2,289 — 31,176 — Total $ 1,673,190 $ 35,392 $ (5,546 ) $ 1,703,036 $ (11 ) (1) Represents the total amount of other than temporary impairment losses relating to factors other than credit losses recognized in accumulated other comprehensive income (“AOCI”). (Dollars in thousands) Amortized Cost Gross Gross Estimated Fair Value Other than As of December 31, 2014 Fixed maturities: U.S. treasury and agency obligations $ 78,569 $ 2,281 $ (83 ) $ 80,767 $ — Obligations of states and political subdivisions 188,452 3,718 (697 ) 191,473 — Mortgage-backed securities 205,814 3,709 (764 ) 208,759 (4 ) Asset-backed securities 177,853 713 (303 ) 178,263 (13 ) Commercial mortgage-backed securities 133,984 21 (847 ) 133,158 — Corporate bonds 380,704 3,421 (709 ) 383,416 — Foreign corporate bonds 107,572 625 (558 ) 107,639 — Total fixed maturities 1,272,948 14,488 (3,961 ) 1,283,475 (17 ) Common stock 99,297 25,689 (2,938 ) 122,048 — Other invested assets 33,174 489 — 33,663 — Total $ 1,405,419 $ 40,666 $ (6,899 ) $ 1,439,186 $ (17 ) (2) Represents the total amount of other than temporary impairment losses relating to factors other than credit losses recognized in accumulated other comprehensive income (“AOCI”).
Summary of Amortized Cost and Estimated Fair Value Through Fixed Maturities	maturity, are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. (Dollars in thousands) Amortized Cost Estimated Due in one year or less $ 112,314 $ 113,541 Due in one year through five years 704,693 708,465 Due in five years through ten years 67,546 68,320 Due in ten years through fifteen years 8,818 9,246 Due after fifteen years 17,778 17,931 Mortgage-backed securities 201,267 203,980 Asset-backed securities 257,401 258,171 Commercial mortgage-backed securities 171,467 170,968 Total $ 1,541,284 $ 1,550,622
Summary of Securities With Gross Unrealized Losses	The following table contains an analysis of the Company’s securities with gross unrealized losses, categorized by the period that the securities were in a continuous loss position as of June 30, 2015: Less than 12 months 12 months or longer (1) Total (Dollars in thousands) Fair Value Gross Fair Value Gross Fair Value Gross Fixed maturities: U.S. treasury and agency obligations $ 504 $ — $ 3,376 $ (44 ) $ 3,880 $ (44 ) Obligations of states and political subdivisions 41,091 (716 ) 10,266 (134 ) 51,357 (850 ) Mortgage-backed securities 62,327 (357 ) 11,650 (123 ) 73,977 (480 ) Asset-backed securities 62,664 (193 ) — — 62,664 (193 ) Commercial mortgage-backed securities 96,171 (448 ) 14,862 (166 ) 111,033 (614 ) Corporate bonds 130,759 (446 ) 2,978 (17 ) 133,737 (463 ) Foreign corporate bonds 62,754 (625 ) — — 62,754 (625 ) Total fixed maturities 456,270 (2,785 ) 43,132 (484 ) 499,402 (3,269 ) Common stock 32,507 (2,277 ) — — 32,507 (2,277 ) Total $ 488,777 $ (5,062 ) $ 43,132 $ (484 ) $ 531,909 $ (5,546 ) (1) Fixed maturities in a gross unrealized loss position for twelve months or longer are primarily comprised of non-credit losses on investment grade securities where management does not intend to sell, and it is more likely than not that the Company will not be forced to sell the security before recovery. The Company has analyzed these securities and has determined that they are not other than temporarily impaired. The following table contains an analysis of the Company’s securities with gross unrealized losses, categorized by the period that the securities were in a continuous loss position as of December 31, 2014: Less than 12 months 12 months or longer (2) Total (Dollars in thousands) Fair Value Gross Fair Value Gross Fair Value Gross Fixed maturities: U.S. treasury and agency obligations $ 11,728 $ (9 ) $ 3,343 $ (74 ) $ 15,071 $ (83 ) Obligations of states and political subdivisions 28,684 (314 ) 28,061 (383 ) 56,745 (697 ) Mortgage-backed securities 2,818 (7 ) 51,203 (757 ) 54,021 (764 ) Asset-backed securities 92,123 (283 ) 1,683 (20 ) 93,806 (303 ) Commercial mortgage-backed securities 92,664 (525 ) 26,280 (322 ) 118,944 (847 ) Corporate bonds 144,505 (656 ) 3,216 (53 ) 147,721 (709 ) Foreign corporate bonds 60,518 (558 ) — — 60,518 (558 ) Total fixed maturities 433,040 (2,352 ) 113,786 (1,609 ) 546,826 (3,961 ) Common stock 20,002 (2,808 ) 1,577 (130 ) 21,579 (2,938 ) Total $ 453,042 $ (5,160 ) $ 115,363 $ (1,739 ) $ 568,405 $ (6,899 ) (2) Fixed maturities in a gross unrealized loss position for twelve months or longer are primarily comprised of non-credit losses on investment grade securities where management does not intend to sell, and it is more likely than not that the Company will not be forced to sell the security before recovery. The Company has analyzed these securities and has determined that they are not other than temporarily impaired.
Schedule of Other Than Temporary Impairments on Investments	The Company recorded the following other than temporary impairments (“OTTI”) on its investment portfolio for the quarters and six months ended June 30, 2015 and 2014: Quarters Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2015 2014 2015 2014 Fixed maturities: OTTI losses, gross $ (13 ) $ — $ (23 ) $ (25 ) Portion of loss recognized in other comprehensive income (pre-tax) — — — — Net impairment losses on fixed maturities recognized in earnings (13 ) — (23 ) (25 ) Equity securities (1,885 ) (37 ) (2,215 ) (37 ) Total $ (1,898 ) $ (37 ) $ (2,238 ) $ (62 )
Schedule of Credit Losses Recognized in Earnings	The following table is an analysis of the credit losses recognized in earnings on fixed maturities held by the Company for the quarters and six months ended June 30, 2015 and 2014 for which a portion of the OTTI loss was recognized in other comprehensive income. Quarters Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2015 2014 2015 2014 Balance at beginning of period $ 50 $ 54 $ 50 $ 54 Additions where no OTTI was previously recorded — — — — Additions where an OTTI was previously recorded — — — — Reductions for securities for which the company intends to sell or more likely than not will be required to sell before recovery — — — — Reductions reflecting increases in expected cash flows to be collected — — — — Reductions for securities sold during the period (19 ) (4 ) (19 ) (4 ) Balance at end of period $ 31 $ 50 $ 31 $ 50
Schedule of Accumulated Other Comprehensive Income, Net of Tax	Accumulated other comprehensive income, net of tax, as of June 30, 2015 and December 31, 2014 was as follows: (Dollars in thousands) June 30, December 31, Net unrealized gains from: Fixed maturities $ 9,338 $ 10,527 Common stock 18,219 22,751 Other 935 369 Deferred taxes (8,390 ) (10,263 ) Accumulated other comprehensive income, net of tax $ 20,102 $ 23,384
Changes in Accumulated Other Comprehensive Income	The following tables present the changes in accumulated other comprehensive income, net of tax, by component for the quarters and six months ended June 30, 2015 and 2014: Quarter Ended June 30, 2015 (Dollars in thousands) Unrealized Gains Foreign Currency Accumulated Other Beginning balance $ 28,206 $ (501) $ 27,705 Other comprehensive income (loss) before reclassification (6,845 ) 159 (6,686 ) Amounts reclassified from accumulated other comprehensive income (loss) (1,160 ) 243 (917 ) Other comprehensive income (loss) (8,005 ) 402 (7,603 ) Ending balance $ 20,201 $ (99 ) $ 20,102 Quarter Ended June 30, 2014 (Dollars in thousands) Unrealized Gains Foreign Currency Accumulated Other Beginning balance $ 51,958 $ 94 $ 52,052 Other comprehensive income (loss) before reclassification 11,664 41 11,705 Amounts reclassified from accumulated other comprehensive income (loss) (29,694 ) (62 ) (29,756 ) Other comprehensive income (loss) (18,030 ) (21 ) (18,051 ) Ending balance $ 33,928 $ 73 $ 34,001 Six Months Ended June 30, 2015 (Dollars in thousands) Unrealized Gains Foreign Currency Accumulated Other Beginning balance $ 23,647 $ (263 ) $ 23,384 Other comprehensive income (loss) before reclassification (404 ) (162 ) (566 ) Amounts reclassified from accumulated other comprehensive income (loss) (3,042 ) 326 (2,716 ) Other comprehensive income (loss) (3,446 ) 164 (3,282 ) Ending balance $ 20,201 $ (99 ) $ 20,102 Six Months Ended June 30, 2014 (Dollars in thousands) Unrealized Gains Foreign Currency Accumulated Other Beginning balance $ 53,950 $ 78 $ 54,028 Other comprehensive income (loss) before reclassification 13,691 70 13,761 Amounts reclassified from accumulated other comprehensive income (loss) (33,713 ) (75 ) (33,788 ) Other comprehensive income (loss) (20,022 ) (5 ) (20,027 ) Ending balance $ 33,928 $ 73 $ 34,001
Reclassifications Out of Accumulated Other Comprehensive Income	The reclassifications out of accumulated other comprehensive income for the quarters and six months ended June 30, 2015 and 2014 were as follows: Amounts Reclassified from Quarters Ended June 30, (Dollars in thousands) Details about Accumulated Other Comprehensive Affected Line Item in the Consolidated Statements of Operations 2015 2014 Unrealized gains and losses on available for sale securities Other net realized investment gains $ (3,745 ) $ (45,840 ) Other than temporary impairment losses on investments 1,897 37 Total before tax (1,848 ) (45,803 ) Income tax expense (benefit) 688 16,109 Net of tax $ (1,160 ) $ (29,694 ) Foreign Currency Items Other net realized investment (gains) losses $ 373 $ (96 ) Income tax expense (benefit) (130 ) 34 Net of tax $ 243 $ (62 ) Total reclassifications Net of tax $ (917 ) $ (29,756 ) Amounts Reclassified from Six Months Ended June 30, (Dollars in thousands) Details about Accumulated Other Comprehensive Affected Line Item in the Consolidated Statements of Operations 2015 2014 Unrealized gains and losses on available for sale securities Other net realized investment gains $ (7,126 ) $ (51,374 ) Other than temporary impairment losses on investments 2,238 62 Total before tax (4,888 ) (51,312 ) Income tax expense (benefit) 1,846 17,599 Net of tax $ (3,042 ) $ (33,713 ) Foreign Currency Items Other net realized investment (gains) losses $ 501 $ (116 ) Income tax expense (benefit) (175 ) 41 Net of tax $ 326 $ (75 ) Total reclassifications Net of tax $ (2,716 ) $ (33,788 )
Components of Net Realized Investment Gains	The components of net realized investment gains for the quarters and six months ended June 30, 2015 and 2014 were as follows: Quarters Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2015 2014 2015 2014 Fixed maturities: Gross realized gains $ 746 $ 719 $ 1,479 $ 2,389 Gross realized losses (110 ) (96 ) (241 ) (226 ) Net realized gains 636 623 1,238 2,163 Common stock: Gross realized gains 3,371 45,868 5,923 49,875 Gross realized losses (2,532 ) (592 ) (2,870 ) (610 ) Net realized gains 839 45,276 3,053 49,265 Preferred stock: Gross realized gains — — 96 — Gross realized losses — — — — Net realized gains — — 96 — Derivatives: Gross realized gains 6,353 — 1,873 — Gross realized losses (1,296 ) (6,018 ) (2,698 ) (12,360 ) Net realized gains (losses) 5,057 (6,018 ) (825 ) (12,360 ) Total net realized investment gains $ 6,532 $ 39,881 $ 3,562 $ 39,068
Proceeds from Sales of Available-for-Sale Securities	The proceeds from sales of available-for-sale securities resulting in net realized investment gains for the six months ended June 30, 2015 and 2014 were as follows: Six Months Ended (Dollars in thousands) 2015 2014 Fixed maturities $ 211,542 $ 219,195 Equity securities 22,327 35,837 Preferred stock 1,540 —
Schedule of Investment Income	The sources of net investment income for the quarters and six months ended June 30, 2015 and 2014 were as follows: Quarters Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2015 2014 2015 2014 Fixed maturities $ 8,022 $ 6,797 $ 16,036 $ 14,052 Equity securities 924 1,941 1,716 4,081 Cash and cash equivalents 9 10 27 28 Other invested assets 1,089 87 1,342 87 Total investment income 10,044 8,835 19,121 18,248 Investment expense (903 ) (1,158 ) (1,739 ) (2,287 ) Net investment income $ 9,141 $ 7,677 $ 17,382 $ 15,961
Schedule of Total Investment Return	The Company’s total investment return on a pre-tax basis for the quarters and six months ended June 30, 2015 and 2014 were as follows: Quarters Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2015 2014 2015 2014 Net investment income $ 9,141 $ 7,677 $ 17,382 $ 15,961 Net realized investment gains 6,532 39,881 3,562 39,068 Change in unrealized investment losses (9,752 ) (29,203 ) (5,155 ) (31,774 ) Net realized and unrealized investment returns (3,220 ) 10,678 (1,593 ) 7,294 Total investment return $ 5,921 $ 18,355 $ 15,789 $ 23,255 Total investment return % (1) 0.3 % 1.2 % 0.9 % 1.5 % Average investment portfolio (2) $ 1,776,326 $ 1,577,630 $ 1,758,103 $ 1,585,304 (1) Not annualized. (2) Average of total cash and invested assets, net of receivable/payable for securities purchased and sold, as of the beginning and end of the period.
Municipal Bonds with and without Insurance	The following table provides a breakdown of the ratings for these municipal bonds with and without insurance. (Dollars in thousands) Ratings with Ratings without Rating Insurance Insurance AA $ 515 $ — BB — 515 Total $ 515 $ 515
Summary of Insurance Enhanced Municipal Bonds Backed by Financial Guarantors	A summary of the Company’s insurance enhanced municipal bonds that are backed by financial guarantors, including the pre-refunded bonds that are escrowed in U.S. government obligations, as of June 30, 2015, is as follows: (Dollars in thousands) Financial Guarantor Total Pre-refunded Government Exposure Net of Pre-refunded Securities Ambac Financial Group $ 1,688 $ 138 $ — $ 1,550 Assured Guaranty Corporation 3,692 — — 3,692 Municipal Bond Insurance Association 5,159 — — 5,159 Gov’t National Housing Association 552 — 552 — Total backed by financial guarantors 11,091 138 552 10,401 Other credit enhanced municipal bonds 6,363 6,363 — — Total $ 17,454 $ 6,501 $ 552 $ 10,401
Summary of Estimated Fair Values of Bonds Held on Deposit	The fair values were as follows as of June 30, 2015 and December 31, 2014: Estimated Fair Value (Dollars in thousands) June 30, December 31, On deposit with governmental authorities $ 39,965 $ 32,790 Intercompany trusts held for the benefit of U.S. policyholders 548,038 495,301 Held in trust pursuant to third party requirements 93,053 95,828 Letter of credit held for third party requirements 6,112 9,340 Securities held as collateral for borrowing arrangements (1) 238,283 222,809 Total $ 925,451 $ 856,068 (1) Amount required to collateralize margin borrowing facilities.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2015
Summarized Information of Location and Gross Amount of Derivatives' Fair Value in Consolidated Balance Sheets	The following table summarizes information on the location and the gross amount of the derivatives’ fair value on the consolidated balance sheets as of June 30, 2015 and December 31, 2014: (Dollars in thousands) June 30, 2015 December 31, 2014 Derivatives Not Designated as Hedging Instruments under ASC 815 Balance Sheet Notional Fair Value Notional Fair Value Interest rate swap agreements Other liabilities $ 200,000 $ (11,801 ) $ 200,000 $ (13,675 )
Summary of Net Losses Included in Consolidated Statement of Operations for Changes in Fair Value of Derivatives and Periodic net Interest Settlements Under Derivatives	The following table summarizes the net gain and losses included in the consolidated statement of operations for changes in the fair value of the derivatives and the periodic net interest settlements under the derivatives for the quarters and six months ended June 30, 2015 and 2014: Quarters Ended June 30, Six Months Ended June 30, (Dollars in thousands) Statement of Operations Line 2015 2014 2015 2014 Interest rate swap agreements Net realized investment gains $ 5,057 $ (6,018 ) $ (825 ) $ (12,360 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Company's Invested Assets and Derivative Instruments Measured at Fair Value on Recurring Basis	The following table presents information about the Company’s invested assets and derivative instruments measured at fair value on a recurring basis as of June 30, 2015 and December 31, 2014, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value. As of June 30, 2015 Fair Value Measurements (Dollars in thousands) Level 1 Level 2 Level 3 Total Assets: Fixed maturities: U.S. treasury and agency obligations $ 80,256 $ 10,000 $ — $ 90,256 Obligations of states and political subdivisions — 232,532 — 232,532 Mortgage-backed securities — 203,980 — 203,980 Commercial mortgage-backed securities — 170,968 — 170,968 Asset-backed securities — 258,171 — 258,171 Corporate bonds — 455,848 — 455,848 Foreign corporate bonds — 138,867 — 138,867 Total fixed maturities 80,256 1,470,366 — 1,550,622 Common stock 121,238 — — 121,238 Other invested assets — — 31,176 31,176 Total assets measured at fair value $ 201,494 $ 1,470,366 $ 31,176 $ 1,703,036 Liabilities: Derivative instruments $ — $ 11,801 $ — $ 11,801 Total liabilities measured at fair value $ — $ 11,801 $ — $ 11,801 As of December 31, 2014 Fair Value Measurements (Dollars in thousands) Level 1 Level 2 Level 3 Total Assets: Fixed maturities: U.S. treasury and agency obligations $ 74,765 $ 6,002 $ — $ 80,767 Obligations of states and political subdivisions — 191,473 — 191,473 Mortgage-backed securities — 208,759 — 208,759 Commercial mortgage-backed securities — 133,158 — 133,158 Asset-backed securities — 178,263 — 178,263 Corporate bonds — 383,416 — 383,416 Foreign corporate bonds — 107,639 — 107,639 Total fixed maturities 74,765 1,208,710 — 1,283,475 Common stock 122,048 — — 122,048 Other invested assets — — 33,663 33,663 Total assets measured at fair value $ 196,813 $ 1,208,710 $ 33,663 $ 1,439,186 Liabilities: Derivative instruments $ — $ 13,675 $ — $ 13,675 Total liabilities measured at fair value $ — $ 13,675 $ — $ 13,675
Changes in Level 3 Investments Measured at Fair Value on a Recurring Basis	The following table presents changes in Level 3 investments measured at fair value on a recurring basis for the quarters and six months ended June 30, 2015 and 2014: Quarters Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2015 2014 2015 2014 Beginning balance $ 29,992 $ 5,364 $ 33,663 $ 3,489 Total gains (losses) (realized / unrealized): Included in accumulated other comprehensive income (loss) 95 (204 ) 458 (430 ) Investment Income: Equity in Limited Partnership 1,089 — 1,342 — Purchases — 9,874 — 11,975 Distributions — — (4,287 ) — Ending balance $ 31,176 $ 15,034 $ 31,176 $ 15,034
Fair Value and Future Funding Commitments Related to These Investments	The following table provides the fair value and future funding commitments related to these investments at June 30, 2015 and December 31, 2014. June 30, 2015 December 31, 2014 (Dollars in thousands) Fair Value Future Fair Value Future Equity Fund, LP (1) $ 3,325 $ 2,391 $ 3,401 $ 2,436 Real Estate Fund, LP (2) — — — — European Non-Performing Loan Fund, LP (3) 27,851 23,564 30,262 20,064 Total $ 31,176 $ 25,955 $ 33,663 $ 22,500 (1) This limited partnership invests in companies from various business sectors whereby the partnership has acquired control of the operating business as a lead or organizing investor. The Company does not have the contractual option to redeem its limited partnership interest but receives distributions based on the liquidation of the underlying assets. The Company does not have the ability to sell or transfer its limited partnership interest without consent from the general partner. (2) This limited partnership invests in real estate assets through a combination of direct or indirect investments in partnerships, limited liability companies, mortgage loans, and lines of credit. The Company does not have the contractual option to redeem its limited partnership interest but receives distributions based on the liquidation of the underlying assets. The Company does not have the ability to sell or transfer its limited partnership interest without consent from the general partner. The Company continues to hold an investment in this limited partnership and has written the fair value down to zero. (3) This limited partnership invests in distressed securities and assets through senior and subordinated, secured and unsecured debt and equity, in both public and private large-cap and middle-market companies. The Company does not have the contractual option to redeem its limited partnership interest but receives distributions based on the liquidation of the underlying assets. The Company does not have the ability to sell or transfer its limited partnership interest without consent from the general partner.

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2015
Income before Income Taxes from its Non-U.S. Subsidiaries and U.S. Subsidiaries	The Company’s income before income taxes from its non-U.S. subsidiaries and U.S. subsidiaries, including the results of the quota share and stop-loss agreements between Global Indemnity Reinsurance and the Insurance Operations, for the quarters and six months ended June 30, 2015 and 2014 were as follows: Quarter Ended June 30, 2015: (Dollars in thousands) Non-U.S. Subsidiaries U.S. Subsidiaries Eliminations Total Revenues: Gross premiums written $ 83,601 $ 148,038 $ (65,124 ) $ 166,515 Net premiums written $ 83,601 $ 62,404 $ — $ 146,005 Net premiums earned $ 72,471 $ 56,406 $ — $ 128,877 Net investment income 11,320 4,325 (6,504 ) 9,141 Net realized investment gains (losses) (118 ) 6,650 — 6,532 Other income 13 564 — 577 Total revenues 83,686 67,945 (6,504 ) 145,127 Losses and Expenses: Net losses and loss adjustment expenses 39,621 39,939 — 79,560 Acquisition costs and other underwriting expenses 31,570 19,356 — 50,926 Corporate and other operating expenses (334 ) 4,668 — 4,334 Interest expense 430 6,609 (6,504 ) 535 Income (loss) before income taxes $ 12,399 $ (2,627 ) $ — $ 9,772 Quarter Ended June 30, 2014: (Dollars in thousands) Non-U.S. Subsidiaries U.S. Subsidiaries Eliminations Total Revenues: Gross premiums written $ 51,328 $ 60,555 $ (28,978 ) $ 82,905 Net premiums written $ 50,312 $ 26,060 $ — $ 76,372 Net premiums earned $ 40,959 $ 25,058 $ — $ 66,017 Net investment income 7,583 4,905 (4,811 ) 7,677 Net realized investment gains (losses) (225 ) 40,106 — 39,881 Other income (loss) (5 ) 160 — 155 Total revenues 48,312 70,229 (4,811 ) 113,730 Losses and Expenses: Net losses and loss adjustment expenses 12,921 25,349 — 38,270 Acquisition costs and other underwriting expenses 17,081 10,090 — 27,171 Corporate and other operating expenses 1,511 1,661 — 3,172 Interest expense 214 4,916 (4,811 ) 319 Income before income taxes $ 16,585 $ 28,213 $ — $ 44,798 Six Months Ended June 30, 2015: (Dollars in thousands) Non-U.S. Subsidiaries U.S. Subsidiaries Eliminations Total Revenues: Gross premiums written $ 222,397 $ 271,042 $ (184,055 ) $ 309,384 Net premiums written $ 222,358 $ 49,751 $ — $ 272,109 Net premiums earned $ 144,135 $ 112,079 $ — $ 256,214 Net investment income 21,502 8,811 (12,931 ) 17,382 Net realized investment gains (losses) (387 ) 3,949 — 3,562 Other income (loss) (66 ) 1,195 — 1,129 Total revenues 165,184 126,034 (12,931 ) 278,287 Losses and Expenses: Net losses and loss adjustment expenses 75,805 73,374 — 149,179 Acquisition costs and other underwriting expenses 61,864 37,320 — 99,184 Corporate and other operating expenses 1,747 14,127 — 15,874 Interest expense 824 13,147 (12,931 ) 1,040 Income (loss) before income taxes $ 24,944 $ (11,934 ) $ — $ 13,010 Six Months Ended June 30, 2014: (Dollars in thousands) Non-U.S. Subsidiaries U.S. Subsidiaries Eliminations Total Revenues: Gross premiums written $ 101,327 $ 113,547 $ (54,772 ) $ 160,102 Net premiums written $ 100,311 $ 48,922 $ — $ 149,233 Net premiums earned $ 83,313 $ 50,248 $ — $ 133,561 Net investment income 15,234 10,325 (9,598 ) 15,961 Net realized investment gains 1,027 38,041 — 39,068 Other income (loss) (3 ) 326 — 323 Total revenues 99,571 98,940 (9,598 ) 188,913 Losses and Expenses: Net losses and loss adjustment expenses 32,879 43,963 — 76,842 Acquisition costs and other underwriting expenses 34,875 18,781 — 53,656 Corporate and other operating expenses 2,878 3,255 — 6,133 Interest expense 454 9,654 (9,598 ) 510 Income before income taxes $ 28,485 $ 23,287 $ — $ 51,772
Components of Income Tax Expense (Benefit)	The following table summarizes the components of income tax expense (benefit): Quarters Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2015 2014 2015 2014 Current income tax expense: Foreign $ 70 $ 61 $ 161 $ 125 U.S. Federal (2,657 ) 7,821 (1,547 ) 7,551 Total current income tax expense (benefit) (2,587 ) 7,882 (1,386 ) 7,676 Deferred income tax expense (benefit): U.S. Federal 1,242 3,708 (3,515 ) 2,065 Total deferred income tax expense (benefit) 1,242 3,708 (3,515 ) 2,065 Total income tax expense (benefit) $ (1,345 ) $ 11,590 $ (4,901 ) $ 9,741
Differences in Tax and Estimated Tax Provisions at Weighted Average Tax Rate	The following table summarizes the differences between the tax provision for financial statement purposes and the expected tax provision at the weighted average tax rate: Quarters Ended June 30, 2015 2014 (Dollars in thousands) Amount % of Pre- Tax Income Amount % of Pre- Tax Income Expected tax provision at weighted average rate $ (848 ) (8.7 %) $ 9,925 22.2 % Adjustments: Tax exempt interest (83 ) (0.8 ) (155 ) (0.3 ) Dividend exclusion (258 ) (2.6 ) (479 ) (1.1 ) Effective tax rate adjustment — — 1,811 4.0 Other (156 ) (1.6 ) 488 1.1 Actual tax on continuing operations $ (1,345 ) (13.7 %) $ 11,590 25.9 % The effective income tax benefit rate for the quarter ended June 30, 2015 was 13.7%, compared to an effective income tax expense rate of 25.9%, for the quarter ended June 30, 2014. The decrease in the effective tax rate is primarily due to large capital gains in the quarter ended June 30, 2014. Taxes were computed using a discrete period computation because a reliable estimate of an effective tax rate could not be made. Six Months Ended June 30, 2015 2014 (Dollars in thousands) Amount % of Pre- Tax Income Amount % of Pre- Tax Income Expected tax provision at weighted average rate $ (4,015 ) (30.9 %) $ 8,263 16.0 % Adjustments: Tax exempt interest (219 ) (1.7 ) (370 ) (0.7 ) Dividend exclusion (413 ) (3.2 ) (957 ) (1.9 ) Effective tax rate adjustment — — 2,312 4.5 Other (254 ) (2.0 ) 493 0.9 Income tax expense (benefit) $ (4,901 ) (37.8 %) $ 9,741 18.8 %
Tax Effects of Temporary Differences That Give Rise to Significant Portions of Net Deferred Tax Assets	The tax effects of temporary differences that give rise to significant portions of the net deferred tax assets at June 30, 2015 and December 31, 2014 are presented below: (Dollars in thousands) June 30, December 31, Deferred tax assets: Discounted unpaid losses and loss adjustment expenses $ 8,351 $ 7,492 Unearned premiums 8,061 3,409 Alternative minimum tax credit carryover 10,473 10,473 Partnership K1 basis differences 145 145 Capital gain on derivative instruments 4,130 4,786 Investment impairments 1,097 379 Stock options 2,306 2,048 Deferred acquisition costs 1,606 187 Stat-to-GAAP reinsurance reserve 1,424 1,424 Intercompany transfers 1,807 1,919 Other 4,082 3,050 Total deferred tax assets 43,482 35,312 Deferred tax liabilities: Intangible assets 6,218 3,220 Unrealized gain on securities available-for-sale and investments in limited partnerships included in accumulated other comprehensive income 8,390 10,263 Investment basis differences 979 692 Depreciation and amortization 129 16 Other 882 871 Total deferred tax liabilities 16,598 15,062 Total net deferred tax assets $ 26,884 $ 20,250

Liability for Unpaid Losses a29

Liability for Unpaid Losses and Loss Adjustment Expenses (Tables)	6 Months Ended
	Jun. 30, 2015
Summarized Activity in Liability for Unpaid Losses and Loss Adjustment Expenses	Activity in the liability for unpaid losses and loss adjustment expenses is summarized as follows: Quarters Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2015 2014 2015 2014 Balance at beginning of period $ 770,119 $ 779,047 $ 675,472 $ 779,466 Less: Ceded reinsurance receivables 140,508 195,533 123,201 192,491 Net balance at beginning of period 629,611 583,514 552,271 586,975 Purchased reserves, gross (584 ) — 88,370 — Less: Purchased reserves ceded — — 11,681 — Purchased reserves, net (584 ) — 76,689 — Incurred losses and loss adjustment expenses related to: Current year 84,724 42,298 157,838 82,964 Prior years (5,164 ) (4,028 ) (8,659 ) (6,122 ) Total incurred losses and loss adjustment expenses 79,560 38,270 149,179 76,842 Paid losses and loss adjustment expenses related to: Current year 45,379 15,785 60,061 23,997 Prior years 32,406 30,402 87,276 64,223 Total paid losses and loss adjustment expenses 77,785 46,187 147,337 88,220 Net balance at end of period 630,802 575,597 630,802 575,597 Plus: Ceded reinsurance receivables 138,497 178,998 138,497 178,998 Balance at end of period $ 769,299 $ 754,595 $ 769,299 $ 754,595

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2015
Information with Respect to A Ordinary Shares that were Surrendered or Repurchased	The following table provides information with respect to the A ordinary shares that were surrendered or repurchased during the quarter ended June 30, 2015: Period (1) Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Plan or Program May 1-31, 2015 596 (2) $ 27.01 — Total 596 $ 27.01 — (1) Based on settlement date. (2) Surrendered by employees as payment of taxes withheld on the vesting of restricted A ordinary shares.

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2015
Premium and Losses
Estimated Earned Premium and Incurred Losses, and Net Balances Due	The Company estimated that the following earned premium and incurred losses related to the agreement have been assumed by Global Indemnity Reinsurance from Hiscox Bermuda: Quarters Ended June 30, (Dollars in thousands) 2015 2014 Assumed earned premium $ 886 $ 1,802 Assumed losses and loss adjustment expenses 239 541 Six Months Ended June 30, (Dollars in thousands) 2015 2014 Assumed earned premium $ 2,248 $ 2,816 Assumed losses and loss adjustment expenses 643 845
Receivables
Estimated Earned Premium and Incurred Losses, and Net Balances Due	Net balances due to Global Indemnity Reinsurance under this agreement are as follows: (Dollars in thousands) June 30, 2015 December 31, Net receivable balance $ 174 $ 2,897

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2015
Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share: (Dollars in thousands, Quarters Ended June 30, Six Months Ended June 30, except share and per share data) 2015 2014 2015 2014 Net income $ 11,117 $ 33,208 $ 17,911 $ 42,031 Basic earnings per share: Weighted average shares outstanding – basic 25,454,579 25,128,280 25,447,398 25,121,171 Net income per share $ 0.44 $ 1.32 $ 0.70 $ 1.67 Diluted earnings per share: Weighted average shares outstanding – diluted 25,680,997 25,312,938 25,659,869 25,301,783 Net income per share $ 0.43 $ 1.31 $ 0.70 $ 1.66
Reconciliation of Weighted Average Shares for Basic and Diluted Earnings Per Share	A reconciliation of weighted average shares for basic earnings per share to weighted average shares for diluted earnings per share is as follows: Quarters Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Weighted average shares for basic earnings per share 25,454,579 25,128,280 25,447,398 25,121,171 Non-vested restricted stock 122,141 77,880 109,308 77,125 Options 104,277 106,778 103,163 103,487 Weighted average shares for diluted earnings per share 25,680,997 25,312,938 25,659,869 25,301,783

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2015
Summary of Business Segment Information	The following are tabulations of business segment information for the quarters and six months ended June 30, 2015 and 2014. Quarter Ended June 30, 2015: (Dollars in thousands) Commercial Personal Reinsurance Operations (2) Total Revenues: Gross premiums written $ 59,033 $ 89,004 $ 18,478 $ 166,515 Net premiums written $ 54,700 $ 72,827 $ 18,478 $ 146,005 Net premiums earned $ 49,614 $ 65,918 $ 13,345 $ 128,877 Other income 153 411 13 577 Total revenues 49,767 66,329 13,358 129,454 Losses and Expenses: Net losses and loss adjustment expenses 30,039 45,180 4,341 79,560 Acquisition costs and other underwriting expenses 20,008 (3) 26,065 (4) 4,853 50,926 Income (loss) from segments $ (280 ) $ (4,916 ) $ 4,164 $ (1,032 ) Unallocated Items: Net investment income 9,141 Net realized investment gains 6,532 Corporate and other operating expenses (4,334 ) Interest expense (535 ) Income before income taxes 9,772 Income tax benefit 1,345 Net income 11,117 Total assets $ 944,744 $ 554,302 $ 761,412 (5) $ 2,260,458 (1) Includes business ceded to the Company’s Reinsurance Operations. (2) External business only, excluding business assumed from affiliates. (3) Includes federal excise tax of $261 relating to cessions from Commercial Lines to Reinsurance Operations. (4) Includes federal excise tax of $330 relating to cessions from Personal Lines to Reinsurance Operations. (5) Comprised of Global Indemnity Reinsurance’s total assets less its investment in subsidiaries. Quarter Ended June 30, 2014: (Dollars in thousands) Commercial Reinsurance Operations (2) Total Revenues: Gross premiums written $ 60,556 $ 22,349 $ 82,905 Net premiums written $ 55,039 $ 21,333 $ 76,372 Net premiums earned $ 53,034 $ 12,983 $ 66,017 Other income (loss) 160 (5 ) 155 Total revenues 53,194 12,978 66,172 Losses and Expenses: Net losses and loss adjustment expenses 33,875 4,395 38,270 Acquisition costs and other underwriting expenses 22,560 (3) 4,611 27,171 Income (loss) from segments $ (3,241 ) $ 3,972 731 Unallocated Items: Net investment income 7,677 Net realized investment gains 39,881 Corporate and other operating expenses (3,172 ) Interest expense (319 ) Income before income taxes 44,798 Income tax expense (11,590 ) Net income $ 33,208 Total assets $ 1,316,314 $ 661,373 (4) $ 1,977,687 (1) Includes business ceded to the Company’s Reinsurance Operations. (2) External business only, excluding business assumed from affiliates. (3) Includes federal excise tax of $281 relating to cessions from Commercial Lines to Reinsurance Operations. (4) Comprised of Global Indemnity Reinsurance’s total assets less its investment in subsidiaries. Six Months Ended June 30, 2015: (Dollars in thousands) Commercial Personal Reinsurance Operations (2) Total Revenues: Gross premiums written $ 108,826 $ 162,215 $ 38,343 $ 309,384 Net premiums written $ 100,322 $ 133,483 $ 38,304 $ 272,109 Net premiums earned $ 100,328 $ 129,340 $ 26,546 $ 256,214 Other income (loss) 318 877 (66 ) 1,129 Total revenues 100,646 130,217 26,480 257,343 Losses and Expenses: Net losses and loss adjustment expenses 59,642 81,098 8,439 149,179 Acquisition costs and other underwriting expenses 40,631 (3) 48,811 (4) 9,742 99,184 Income from segments $ 373 $ 308 $ 8,299 $ 8,980 Unallocated Items: Net investment income 17,382 Net realized investment gains 3,562 Corporate and other operating expenses (15,874 ) Interest expense (1,040 ) Income before income taxes 13,010 Income tax benefit 4,901 Net income 17,911 Total assets $ 944,744 $ 554,302 $ 761,412 (5) $ 2,260,458 (1) Includes business ceded to the Company’s Reinsurance Operations. (2) External business only, excluding business assumed from affiliates. (3) Includes federal excise tax of $529 relating to cessions from Commercial Lines to Reinsurance Operations. (4) Includes federal excise tax of $647 relating to cessions from Personal Lines to Reinsurance Operations. (5) Comprised of Global Indemnity Reinsurance’s total assets less its investment in subsidiaries. Six Months Ended June 30, 2014: (Dollars in thousands) Commercial Reinsurance Operations (2) Total Revenues: Gross premiums written $ 113,548 $ 46,554 $ 160,102 Net premiums written $ 103,695 $ 45,538 $ 149,233 Net premiums earned $ 106,347 $ 27,214 $ 133,561 Other income (loss) 326 (3 ) 323 Total revenues 106,673 27,211 133,884 Losses and Expenses: Net losses and loss adjustment expenses 67,472 9,370 76,842 Acquisition costs and other underwriting expenses 44,278 (3) 9,378 53,656 Income (loss) from segments $ (5,077 ) $ 8,463 3,386 Unallocated Items: Net investment income 15,961 Net realized investment gains 39,068 Corporate and other operating expenses (6,133 ) Interest expense (510 ) Income before income taxes 51,772 Income tax expense (9,741 ) Net income $ 42,031 Total assets $ 1,316,314 $ 661,373 (4) $ 1,977,687 (1) Includes business ceded to the Company’s Reinsurance Operations. (2) External business only, excluding business assumed from affiliates. (3) Includes federal excise tax of $561 relating to cessions from Commercial Lines to Reinsurance Operations. (4) Comprised of Global Indemnity Reinsurance’s total assets less its investment in subsidiaries.

Principles of Consolidation a34

Principles of Consolidation and Basis of Presentation - Additional Information (Detail) - 6 months ended Jun. 30, 2015 - Segment	Total
Organization And Basis Of Presentation [Line Items]
Date of incorporation	Mar. 9, 2010
State of incorporation	Ireland
Kind of listing	A ordinary shares
Number of business segments	3

Acquisition - Additional Inform

Acquisition - Additional Information (Detail) $ in Thousands	Jan. 01, 2015USD ($)shares	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)Agent	Jun. 30, 2015USD ($)	Apr. 30, 2015USD ($)
Business Acquisition [Line Items]
Revenue		$ 145,127	$ 113,730	$ 278,287	$ 188,913
Pre-tax income (loss)		9,772	$ 44,798	$ 13,010	$ 51,772
Intangible assets	$ 32,000
Intangible assets arising from acquisition deductible for income tax, period				15 years
Business combination, employee related compensation cost paid, which were included in the fair value of net assets acquired				$ 1,600
Dividend limitations				The maximum amount of dividends, which can be paid by Arizona domiciled insurance companies without prior approval of the Insurance Commissioner, is subject to certain regulatory restrictions relating to statutory surplus.Specifically, an insurance company may pay dividends equal to the lesser of net income or 10% of its statutory surplus without specific approval from the Insurance Commissioner. At December 31, 2014, the maximum dividend, which may be distributed without approval in 2015, is zero. Dividends in excess of this amount are considered extraordinary.
Losses and Loss Adjustment Expenses
Business Acquisition [Line Items]
Liabilities, Fair Value Adjustment				$ (600)
Other Liabilities
Business Acquisition [Line Items]
Liabilities, Fair Value Adjustment				(300)
Agreement with unrelated third party to build out a rate, quote, bind and issue application for the agriculture products
Business Acquisition [Line Items]
Estimated project cost								$ 2,600
Accounts Receivable
Business Acquisition [Line Items]
Assets, Fair Value Adjustment				(200)
Value of business acquired
Business Acquisition [Line Items]
Assets, Fair Value Adjustment				(500)
Deferred Income Tax Charge
Business Acquisition [Line Items]
Assets, Fair Value Adjustment				100
Goodwill
Business Acquisition [Line Items]
Assets, Fair Value Adjustment				100
American Reliable Insurance Company
Business Acquisition [Line Items]
Revenue		67,300		132,600
Pre-tax income (loss)		(4,000)		2,700
Ceded written premiums		16,177		28,732
Ceded earned premiums		21,609		42,879
Rental expense under operating leases, net of sub-lease income		200		500
American Reliable Insurance Company | American Bankers Insurance Company
Business Acquisition [Line Items]
Ceded written premiums		12,900		23,000
Ceded earned premiums		18,600		37,400
American Reliable Insurance Company | Various Reinsurers Owned by Assurant, Inc.
Business Acquisition [Line Items]
Ceded written premiums		24,700		48,100
Ceded earned premiums		$ 23,500		47,200
American Reliable Insurance Company | Sales Revenue, Services, Net | Geographic Concentration Risk
Business Acquisition [Line Items]
Gross premiums written, percent						100.00%
American Reliable Insurance Company | Sales Revenue, Services, Net | Geographic Concentration Risk | General and Specialty Agents | Arizona and New Mexico
Business Acquisition [Line Items]
Number of agents | Agent						290
American Reliable Insurance Company | Sales Revenue, Services, Net | Geographic Concentration Risk | Direct Agents | Arizona and New Mexico
Business Acquisition [Line Items]
Number of agents | Agent						332
American Reliable Insurance Company | Sales Revenue, Services, Net | Customer Concentration Risk | Top Five Agents
Business Acquisition [Line Items]
Gross premiums written, percent						23.90%
American Reliable Insurance Company | Sales Revenue, Services, Net | Customer Concentration Risk | Agency
Business Acquisition [Line Items]
Gross premiums written, percent						6.80%
American Reliable Insurance Company | Property Per Risk Excess Of Loss | Reinsurance Program Layer 1
Business Acquisition [Line Items]
Reinsurance coverage for excess of risk retention per incident, effective treaty				1,000
Reinsurance coverage for risk retention per incident, effective treaty				1,000
Limit of liability for risks involved in one loss occurrence				2,000
American Reliable Insurance Company | Property Per Risk Excess Of Loss | Reinsurance Program Layer 2
Business Acquisition [Line Items]
Reinsurance coverage for excess of risk retention per incident, effective treaty				3,000
Reinsurance coverage for risk retention per incident, effective treaty				2,000
Limit of liability for risks involved in one loss occurrence				6,000
American Reliable Insurance Company | Earthquake Property Catastrophe Excess Of Loss
Business Acquisition [Line Items]
Reinsurance coverage for excess of risk retention per incident, effective treaty				30,000
Reinsurance coverage for risk retention per incident, effective treaty				$ 5,000
Reinsurance percentage of one full reinstatement, effective treaty				100.00%
Global Indemnity Group Inc | American Reliable Insurance Company
Business Acquisition [Line Items]
Aggregate purchase price	$ 113,700
Business acquisition date	Jan. 1, 2015
Acquired voting equity interest	100.00%
Customary insurance liabilities, obligations, and mandates	$ 283,400
Estimated purchase price	$ 105,800
Global Indemnity Group Inc | American Reliable Insurance Company | Fox Paine & Company, LLC
Business Acquisition [Line Items]
Investment bank fee as a percentage of the amount paid plus required capital to operate American Reliable on a standalone basis	3.00%
Investment advisory fee	$ 1,500
Investment advisory fee	$ 6,500
Ordinary shares of Global Indemnity issued to pay fees | shares	267,702
Global Indemnity Group Inc | Business Acquisition Cost
Business Acquisition [Line Items]
Business combination, additional costs				$ 1,800		$ 3,300	$ 5,100

Schedule of Unaudited Pro Forma

Schedule of Unaudited Pro Forma Consolidated Results of Operations (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Business Acquisition [Line Items]
Total Revenue	$ 145,125	$ 181,080	$ 278,282	$ 320,262
Net Income	$ 11,117	$ 35,108	$ 23,306	$ 43,361
Net Income per share	$ 0.43	$ 1.37	$ 0.91	$ 1.70

Estimated Fair value of Assets

Estimated Fair value of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Jan. 01, 2015	Jun. 30, 2015	Dec. 31, 2014
ASSETS:
Investments	$ 226,458
Cash and cash equivalents	21,360
Premiums receivables, net	25,941
Accounts receivable	17,129
Reinsurance receivables	12,723
Prepaid Reinsurance Premiums	43,506
Intangible assets	32,000
Deferred federal income taxes	1,246
Other assets	6,550
Total assets	386,913
LIABILITIES:
Unearned premiums	172,234
Unpaid losses and loss adjustment expenses	88,370
Reinsurance balances payable	13,219
Contingent commission	3,876
Other liabilities	5,685
Total liabilities	283,384
Estimated fair value of net assets acquired	103,529
Purchase price	105,843
Goodwill	$ 2,314	$ 7,134	$ 4,820

Valuation of Intangible Assets

Valuation of Intangible Assets (Detail) - Jan. 01, 2015 - USD ($) $ in Thousands	Total
Acquired Intangible Assets [Line Items]
Amount	$ 32,000
State insurance licenses
Acquired Intangible Assets [Line Items]
Amount	5,000
Value of business acquired
Acquired Intangible Assets [Line Items]
Amount	$ 25,500
Value of business acquired | Maximum
Acquired Intangible Assets [Line Items]
Useful Life	1 year
Agent Relationships
Acquired Intangible Assets [Line Items]
Useful Life	10 years
Amount	$ 900
Trade names
Acquired Intangible Assets [Line Items]
Amount	$ 600
Trade names | Maximum
Acquired Intangible Assets [Line Items]
Useful Life	8 years
Trade names | Minimum
Acquired Intangible Assets [Line Items]
Useful Life	7 years

Fair Value, Gross Contractual A

Fair Value, Gross Contractual Amounts Due, and Contractual Cash Flows Not Expected to be Collected of Acquired Receivables (Detail) $ in Thousands	Jun. 30, 2015USD ($)
Premium Receivables
Business Acquisition [Line Items]
Acquired receivables, Fair Value	$ 25,941
Acquired receivables, Gross Contractual Amounts Due	26,896
Acquired receivables, Contractual cash flows not expected to be collected	955
Accounts Receivable
Business Acquisition [Line Items]
Acquired receivables, Fair Value	17,129
Acquired receivables, Gross Contractual Amounts Due	17,129
Reinsurance Receivables
Business Acquisition [Line Items]
Acquired receivables, Fair Value	12,723
Acquired receivables, Gross Contractual Amounts Due	$ 12,723

Geographic Distribution of Gros

Geographic Distribution of Gross Premiums Written (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Business Acquisition [Line Items]
Gross premiums written, Amount	$ 166,515	$ 82,905	$ 309,384	$ 160,102
American Reliable Insurance Company | Sales Revenue, Services, Net | Geographic Concentration Risk
Business Acquisition [Line Items]
Gross premiums written, Amount					$ 266,303
Gross premiums written, percent					100.00%
American Reliable Insurance Company | Sales Revenue, Services, Net | Geographic Concentration Risk | TEXAS
Business Acquisition [Line Items]
Gross premiums written, Amount					$ 32,760
Gross premiums written, percent					12.30%
American Reliable Insurance Company | Sales Revenue, Services, Net | Geographic Concentration Risk | CALIFORNIA
Business Acquisition [Line Items]
Gross premiums written, Amount					$ 25,556
Gross premiums written, percent					9.60%
American Reliable Insurance Company | Sales Revenue, Services, Net | Geographic Concentration Risk | NORTH CAROLINA
Business Acquisition [Line Items]
Gross premiums written, Amount					$ 23,040
Gross premiums written, percent					8.70%
American Reliable Insurance Company | Sales Revenue, Services, Net | Geographic Concentration Risk | ARIZONA
Business Acquisition [Line Items]
Gross premiums written, Amount					$ 17,722
Gross premiums written, percent					6.70%
American Reliable Insurance Company | Sales Revenue, Services, Net | Geographic Concentration Risk | LOUISIANA
Business Acquisition [Line Items]
Gross premiums written, Amount					$ 17,522
Gross premiums written, percent					6.60%
American Reliable Insurance Company | Sales Revenue, Services, Net | Geographic Concentration Risk | NEW YORK
Business Acquisition [Line Items]
Gross premiums written, Amount					$ 13,408
Gross premiums written, percent					5.00%
American Reliable Insurance Company | Sales Revenue, Services, Net | Geographic Concentration Risk | FLORIDA
Business Acquisition [Line Items]
Gross premiums written, Amount					$ 12,361
Gross premiums written, percent					4.60%
American Reliable Insurance Company | Sales Revenue, Services, Net | Geographic Concentration Risk | OKLAHOMA
Business Acquisition [Line Items]
Gross premiums written, Amount					$ 9,977
Gross premiums written, percent					3.70%
American Reliable Insurance Company | Sales Revenue, Services, Net | Geographic Concentration Risk | GEORGIA
Business Acquisition [Line Items]
Gross premiums written, Amount					$ 8,768
Gross premiums written, percent					3.30%
American Reliable Insurance Company | Sales Revenue, Services, Net | Geographic Concentration Risk | NEW JERSEY
Business Acquisition [Line Items]
Gross premiums written, Amount					$ 6,925
Gross premiums written, percent					2.60%
American Reliable Insurance Company | Sales Revenue, Services, Net | Geographic Concentration Risk | Subtotal
Business Acquisition [Line Items]
Gross premiums written, Amount					$ 168,039
Gross premiums written, percent					63.10%
American Reliable Insurance Company | Sales Revenue, Services, Net | Geographic Concentration Risk | All other states
Business Acquisition [Line Items]
Gross premiums written, Amount					$ 98,264
Gross premiums written, percent					36.90%

Effect of Reinsurance on Premiu

Effect of Reinsurance on Premiums Written and Earned (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Net premiums written	$ 146,005	$ 76,372	$ 272,109	$ 149,233
Net premiums earned	128,877	$ 66,017	256,214	$ 133,561
American Reliable Insurance Company
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Direct business	64,319		114,155
Reinsurance assumed	24,685		48,060
Reinsurance ceded	(16,177)		(28,732)
Net premiums written	72,827		133,483
Direct business	64,033		125,026
Reinsurance assumed	23,494		47,193
Reinsurance ceded	(21,609)		(42,879)
Net premiums earned	$ 65,918		$ 129,340

Future Minimum Cash Payments Un

Future Minimum Cash Payments Under Non-cancelable Operating Leases (Detail) - American Reliable Insurance Company $ in Thousands	Jun. 30, 2015USD ($)
Future Minimum Payments Under Non-Cancelable Operating Leases With Initial Terms Of One-Year Or More [Line Items]
July 1, 2015 to June 30, 2016	$ 896
July 1, 2016 to June 30, 2017	806
July 1, 2017 to June 30, 2018	783
July 1, 2018 to June 30, 2019	358
Total	$ 2,843

Schedule of Amortized Cost and

Schedule of Amortized Cost and Estimated Fair Value of Investments (Detail) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		$ 1,673,190	$ 1,405,419
Gross Unrealized Gains		35,392	40,666
Gross Unrealized Losses		(5,546)	(6,899)
Estimated Fair Value		1,703,036	1,439,186
Other than temporary impairments recognized in AOCI	[1]	(11)	(17)
Common Shares
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		103,019	99,297
Gross Unrealized Gains		20,496	25,689
Gross Unrealized Losses		(2,277)	(2,938)
Estimated Fair Value		121,238	122,048
Other Invested Assets
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		28,887	33,174
Gross Unrealized Gains		2,289	489
Estimated Fair Value		31,176	33,663
Fixed Maturities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		1,541,284	1,272,948
Gross Unrealized Gains		12,607	14,488
Gross Unrealized Losses		(3,269)	(3,961)
Estimated Fair Value		1,550,622	1,283,475
Other than temporary impairments recognized in AOCI	[1]	(11)	(17)
Fixed Maturities | U.S. Treasury and Agency Obligations
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		88,489	78,569
Gross Unrealized Gains		1,811	2,281
Gross Unrealized Losses		(44)	(83)
Estimated Fair Value		90,256	80,767
Fixed Maturities | Obligations of States and Political Subdivisions
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		230,355	188,452
Gross Unrealized Gains		3,027	3,718
Gross Unrealized Losses		(850)	(697)
Estimated Fair Value		232,532	191,473
Fixed Maturities | Mortgage Backed Securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		201,267	205,814
Gross Unrealized Gains		3,193	3,709
Gross Unrealized Losses		(480)	(764)
Estimated Fair Value		203,980	208,759
Other than temporary impairments recognized in AOCI	[1]		(4)
Fixed Maturities | Asset-backed Securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		257,401	177,853
Gross Unrealized Gains		963	713
Gross Unrealized Losses		(193)	(303)
Estimated Fair Value		258,171	178,263
Other than temporary impairments recognized in AOCI	[1]	(11)	(13)
Fixed Maturities | Commercial Mortgage-Backed Securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		171,467	133,984
Gross Unrealized Gains		115	21
Gross Unrealized Losses		(614)	(847)
Estimated Fair Value		170,968	133,158
Fixed Maturities | Corporate bonds
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		453,473	380,704
Gross Unrealized Gains		2,838	3,421
Gross Unrealized Losses		(463)	(709)
Estimated Fair Value		455,848	383,416
Fixed Maturities | Foreign Corporate Bonds
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		138,832	107,572
Gross Unrealized Gains		660	625
Gross Unrealized Losses		(625)	(558)
Estimated Fair Value		$ 138,867	$ 107,639
[1]	Represents the total amount of other than temporary impairment losses relating to factors other than credit losses recognized in accumulated other comprehensive income ("AOCI").

Investments - Additional Inform

Investments - Additional Information (Detail) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Gross unrealized losses		$ 5,546	$ 6,899
Gross unrealized losses less than 12 months		5,062	5,160	[1]
Gross unrealized losses for 12 months or greater	[1]	484	$ 1,739
Investments in insurance enhanced asset backed and credit securities		41,100
Investments in insurance enhanced municipal bonds		17,454
Ratings without insurance		515
Investments in asset backed and taxable municipal bonds		$ 23,600
Asset backed and taxable municipal bonds as a percentage of total cash and invested assets		1.30%
Municipal Bond Insurance Association
Schedule of Available-for-sale Securities [Line Items]
Investments in asset backed and taxable municipal bonds		$ 8,800
Ambac Financial Group
Schedule of Available-for-sale Securities [Line Items]
Investments in asset backed and taxable municipal bonds		1,500
Assured Guaranty Corporation
Schedule of Available-for-sale Securities [Line Items]
Investments in asset backed and taxable municipal bonds		11,000
Financial Guaranty Insurance Group
Schedule of Available-for-sale Securities [Line Items]
Investments in asset backed and taxable municipal bonds		300
Build America Mutual
Schedule of Available-for-sale Securities [Line Items]
Investments in asset backed and taxable municipal bonds		2,000
Financial Guarantors
Schedule of Available-for-sale Securities [Line Items]
Investments in insurance enhanced municipal bonds		$ 11,091
Maximum
Schedule of Available-for-sale Securities [Line Items]
Investments in a single issuer as a percentage of shareholders' equity		4.00%	4.00%
Pre-Refunded Securities
Schedule of Available-for-sale Securities [Line Items]
Investments in insurance enhanced municipal bonds		$ 6,501
Pre-Refunded Securities | Financial Guarantors
Schedule of Available-for-sale Securities [Line Items]
Investments in insurance enhanced municipal bonds		138
A+ Rating
Schedule of Available-for-sale Securities [Line Items]
Investments in insurance enhanced municipal bonds		$ 17,500
Insurance enhanced municipal bonds as a percentage of total cash and invested assets		1.00%
Insurance enhanced municipal bonds		$ 11,000
U.S. Treasury and Agency Obligations
Schedule of Available-for-sale Securities [Line Items]
Gross unrealized losses less than 12 months		1
U.S. Treasury and Agency Obligations | AA+ Rating
Schedule of Available-for-sale Securities [Line Items]
Gross unrealized losses		44
Obligations of States and Political Subdivisions
Schedule of Available-for-sale Securities [Line Items]
Gross unrealized losses		850
Obligations of States and Political Subdivisions | A Rating
Schedule of Available-for-sale Securities [Line Items]
Gross unrealized losses for 12 months or greater		134
Mortgage Backed Securities
Schedule of Available-for-sale Securities [Line Items]
Gross unrealized losses		480
Mortgage Backed Securities | AA+ Rating
Schedule of Available-for-sale Securities [Line Items]
Gross unrealized losses for 12 months or greater		$ 123
Percentage of securities in unrealized loss position for twelve months or longer and rated investment grade		97.60%
Asset-backed Securities | A Rating
Schedule of Available-for-sale Securities [Line Items]
Gross unrealized losses		$ 193
Weighted average credit enhancement		22.60%
Commercial Mortgage-Backed Securities
Schedule of Available-for-sale Securities [Line Items]
Gross unrealized losses		$ 614
Weighted average credit enhancement		38.20%
Commercial Mortgage-Backed Securities | AA- Rating
Schedule of Available-for-sale Securities [Line Items]
Gross unrealized losses for 12 months or greater		$ 166
Corporate bonds
Schedule of Available-for-sale Securities [Line Items]
Gross unrealized losses		463
Corporate bonds | BBB Rating
Schedule of Available-for-sale Securities [Line Items]
Gross unrealized losses for 12 months or greater		17
Foreign Corporate Bonds
Schedule of Available-for-sale Securities [Line Items]
Gross unrealized losses		$ 625
Percentage of securities in unrealized loss position less than twelve months and rated investment grade		96.20%
Common Shares
Schedule of Available-for-sale Securities [Line Items]
Gross unrealized losses		$ 2,277	$ 2,938
Gross unrealized losses less than 12 months		$ 2,277	2,808	[1]
Gross unrealized losses for 12 months or greater	[1]		$ 130
[1]	Fixed maturities in a gross unrealized loss position for twelve months or longer are primarily comprised of non-credit losses on investment grade securities where management does not intend to sell, and it is more likely than not that the Company will not be forced to sell the security before recovery. The Company has analyzed these securities and has determined that they are not other than temporarily impaired.

Summary of Amortized Cost and E

Summary of Amortized Cost and Estimated Fair Value Through Fixed Maturities (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Due in one year or less, Amortized Cost	$ 112,314
Due in one year through five years, Amortized Cost	704,693
Due in five years through ten years, Amortized Cost	67,546
Due in ten years through fifteen years, Amortized Cost	8,818
Due after fifteen years, Amortized Cost	17,778
Fixed maturities, amortized cost	1,541,284	$ 1,272,948
Due in one year or less, Estimated Fair value	113,541
Due in one year through five years, Estimated Fair value	708,465
Due in five years through ten years, Estimated Fair value	68,320
Due in ten years through fifteen years, Estimated Fair value	9,246
Due after fifteen years, Estimated Fair value	17,931
Fixed Maturities, estimated fair value	1,550,622	$ 1,283,475
Mortgage Backed Securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	201,267
Estimated Fair value	203,980
Asset-backed Securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	257,401
Estimated Fair value	258,171
Commercial Mortgage-Backed Securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	171,467
Estimated Fair value	$ 170,968

Summary of Securities with Gros

Summary of Securities with Gross Unrealized Losses (Detail) - USD ($) $ in Thousands		Jun. 30, 2015		Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair Value		$ 488,777		$ 453,042
Less than 12 months, Gross Unrealized Losses		(5,062)		(5,160)	[1]
12 months or longer, Fair Value		43,132	[1]	115,363
12 months or longer, Gross Unrealized Losses	[1]	(484)		(1,739)
Total, Fair Value		531,909		568,405
Total, Gross Unrealized Losses		(5,546)		(6,899)
U.S. Treasury and Agency Obligations
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Gross Unrealized Losses		(1)
Obligations of States and Political Subdivisions
Schedule of Available-for-sale Securities [Line Items]
Total, Gross Unrealized Losses		(850)
Mortgage Backed Securities
Schedule of Available-for-sale Securities [Line Items]
Total, Gross Unrealized Losses		(480)
Commercial Mortgage-Backed Securities
Schedule of Available-for-sale Securities [Line Items]
Total, Gross Unrealized Losses		(614)
Corporate bonds
Schedule of Available-for-sale Securities [Line Items]
Total, Gross Unrealized Losses		(463)
Foreign Corporate Bonds
Schedule of Available-for-sale Securities [Line Items]
Total, Gross Unrealized Losses		(625)
Common Shares
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair Value		32,507		20,002
Less than 12 months, Gross Unrealized Losses		(2,277)		(2,808)	[1]
12 months or longer, Fair Value				1,577
12 months or longer, Gross Unrealized Losses	[1]			(130)
Total, Fair Value		32,507		21,579
Total, Gross Unrealized Losses		(2,277)		(2,938)
Fixed Maturities
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair Value		456,270		433,040
Less than 12 months, Gross Unrealized Losses		(2,785)		(2,352)	[1]
12 months or longer, Fair Value		43,132	[1]	113,786
12 months or longer, Gross Unrealized Losses	[1]	(484)		(1,609)
Total, Fair Value		499,402		546,826
Total, Gross Unrealized Losses		(3,269)		(3,961)
Fixed Maturities | U.S. Treasury and Agency Obligations
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair Value		504		11,728
Less than 12 months, Gross Unrealized Losses	[1]			(9)
12 months or longer, Fair Value		3,376	[1]	3,343
12 months or longer, Gross Unrealized Losses	[1]	(44)		(74)
Total, Fair Value		3,880		15,071
Total, Gross Unrealized Losses		(44)		(83)
Fixed Maturities | Obligations of States and Political Subdivisions
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair Value		41,091		28,684
Less than 12 months, Gross Unrealized Losses		(716)		(314)	[1]
12 months or longer, Fair Value		10,266	[1]	28,061
12 months or longer, Gross Unrealized Losses	[1]	(134)		(383)
Total, Fair Value		51,357		56,745
Total, Gross Unrealized Losses		(850)		(697)
Fixed Maturities | Mortgage Backed Securities
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair Value		62,327		2,818
Less than 12 months, Gross Unrealized Losses		(357)		(7)	[1]
12 months or longer, Fair Value		11,650	[1]	51,203
12 months or longer, Gross Unrealized Losses	[1]	(123)		(757)
Total, Fair Value		73,977		54,021
Total, Gross Unrealized Losses		(480)		(764)
Fixed Maturities | Asset-backed Securities
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair Value		62,664		92,123
Less than 12 months, Gross Unrealized Losses		(193)		(283)	[1]
12 months or longer, Fair Value				1,683
12 months or longer, Gross Unrealized Losses	[1]			(20)
Total, Fair Value		62,664		93,806
Total, Gross Unrealized Losses		(193)		(303)
Fixed Maturities | Commercial Mortgage-Backed Securities
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair Value		96,171		92,664
Less than 12 months, Gross Unrealized Losses		(448)		(525)	[1]
12 months or longer, Fair Value		14,862	[1]	26,280
12 months or longer, Gross Unrealized Losses	[1]	(166)		(322)
Total, Fair Value		111,033		118,944
Total, Gross Unrealized Losses		(614)		(847)
Fixed Maturities | Corporate bonds
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair Value		130,759		144,505
Less than 12 months, Gross Unrealized Losses		(446)		(656)	[1]
12 months or longer, Fair Value		2,978	[1]	3,216
12 months or longer, Gross Unrealized Losses	[1]	(17)		(53)
Total, Fair Value		133,737		147,721
Total, Gross Unrealized Losses		(463)		(709)
Fixed Maturities | Foreign Corporate Bonds
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, Fair Value		62,754		60,518
Less than 12 months, Gross Unrealized Losses		(625)		(558)	[1]
Total, Fair Value		62,754		60,518
Total, Gross Unrealized Losses		$ (625)		$ (558)
[1]	Fixed maturities in a gross unrealized loss position for twelve months or longer are primarily comprised of non-credit losses on investment grade securities where management does not intend to sell, and it is more likely than not that the Company will not be forced to sell the security before recovery. The Company has analyzed these securities and has determined that they are not other than temporarily impaired.

Schedule of Other Than Temporar

Schedule of Other Than Temporary Impairments on Investments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Schedule of Available-for-sale Securities [Line Items]
OTTI losses, gross	$ (13)		$ (23)	$ (25)
Portion of loss recognized in other comprehensive income (pre-tax)	0	$ 0	0	0
Net impairment losses on fixed maturities recognized in earnings	(13)		(23)	(25)
Equity securities	(1,885)	(37)	(2,215)	(37)
Total	$ (1,898)	$ (37)	$ (2,238)	$ (62)

Schedule of Credit Losses Recog

Schedule of Credit Losses Recognized in Earnings (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Schedule of Available-for-sale Securities [Line Items]
Balance at beginning of period	$ 50	$ 54	$ 50	$ 54
Additions where no OTTI was previously recorded	0	0	0	0
Additions where an OTTI was previously recorded	0	0	0	0
Reductions for securities for which the company intends to sell or more likely than not will be required to sell before recovery	0	0	0	0
Reductions reflecting increases in expected cash flows to be collected	0	0	0	0
Reductions for securities sold during the period	(19)	(4)	(19)	(4)
Balance at end of period	$ 31	$ 50	$ 31	$ 50

Schedule of Accumulated Other C

Schedule of Accumulated Other Comprehensive Income, Net of Tax (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]
Deferred taxes	$ (8,390)		$ (10,263)
Accumulated other comprehensive income, net of tax	20,102	$ 27,705	23,384	$ 34,001	$ 52,052	$ 54,028
Fixed Maturities
Schedule of Available-for-sale Securities [Line Items]
Net unrealized gains	9,338		10,527
Common Shares
Schedule of Available-for-sale Securities [Line Items]
Net unrealized gains	18,219		22,751
Other
Schedule of Available-for-sale Securities [Line Items]
Net unrealized gains	$ 935		$ 369

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 27,705	$ 52,052	$ 23,384	$ 54,028	$ 54,028
Other comprehensive income (loss) before reclassification	(6,686)	11,705	(566)	13,761
Amounts reclassified from accumulated other comprehensive income (loss)	(917)	(29,756)	(2,716)	(33,788)
Other comprehensive income (loss), net of taxes	(7,603)	(18,051)	(3,282)	(20,027)
Ending balance	20,102	34,001	20,102	34,001	23,384
Unrealized Gains and Losses on Available for Sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	28,206	51,958	23,647	53,950	53,950
Other comprehensive income (loss) before reclassification	(6,845)	11,664	(404)	13,691
Amounts reclassified from accumulated other comprehensive income (loss)	(1,160)	(29,694)	(3,042)	(33,713)
Other comprehensive income (loss), net of taxes	(8,005)	(18,030)	(3,446)	(20,022)
Ending balance	20,201	33,928	20,201	33,928	23,647
Foreign Currency Items
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(501)	94	(263)	78	78
Other comprehensive income (loss) before reclassification	159	41	(162)	70
Amounts reclassified from accumulated other comprehensive income (loss)	243	(62)	326	(75)
Other comprehensive income (loss), net of taxes	402	(21)	164	(5)
Ending balance	$ (99)	$ 73	$ (99)	$ 73	$ (263)

Reclassifications Out of Accumu

Reclassifications Out of Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other net realized investment gains (losses)	$ 8,430	$ 39,918	$ 5,800	$ 39,130
Other than temporary impairment losses on investments	(1,898)	(37)	(2,238)	(62)
Income before income taxes	9,772	44,798	13,010	51,772
Income tax expense (benefit)	1,345	(11,590)	4,901	(9,741)
Net income	11,117	33,208	17,911	42,031
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net income	(917)	(29,756)	(2,716)	(33,788)
Reclassification out of Accumulated Other Comprehensive Income | Unrealized Gains and Losses on Available for Sale Securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other net realized investment gains (losses)	(3,745)	(45,840)	(7,126)	(51,374)
Other than temporary impairment losses on investments	1,897	37	2,238	62
Income before income taxes	(1,848)	(45,803)	(4,888)	(51,312)
Income tax expense (benefit)	688	16,109	1,846	17,599
Net income	(1,160)	(29,694)	(3,042)	(33,713)
Reclassification out of Accumulated Other Comprehensive Income | Foreign Currency Items
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other net realized investment gains (losses)	373	(96)	501	(116)
Income tax expense (benefit)	(130)	34	(175)	41
Net income	$ 243	$ (62)	$ 326	$ (75)

Components of Net Realized Inve

Components of Net Realized Investment Gains (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Schedule of Available-for-sale Securities [Line Items]
Total net realized investment gains (losses)	$ 6,532	$ 39,881	$ 3,562	$ 39,068
Not Designated as Hedging Instrument | Interest Rate Swap
Schedule of Available-for-sale Securities [Line Items]
Gross realized gains	6,353		1,873
Gross realized losses	(1,296)	(6,018)	(2,698)	(12,360)
Total net realized investment gains (losses)	5,057	(6,018)	(825)	(12,360)
Fixed Maturities
Schedule of Available-for-sale Securities [Line Items]
Gross realized gains	746	719	1,479	2,389
Gross realized losses	(110)	(96)	(241)	(226)
Total net realized investment gains (losses)	636	623	1,238	2,163
Common Shares
Schedule of Available-for-sale Securities [Line Items]
Gross realized gains	3,371	45,868	5,923	49,875
Gross realized losses	(2,532)	(592)	(2,870)	(610)
Total net realized investment gains (losses)	$ 839	$ 45,276	3,053	$ 49,265
Preferred Stock
Schedule of Available-for-sale Securities [Line Items]
Gross realized gains			96
Total net realized investment gains (losses)			$ 96

Schedule of Proceeds From Sales

Schedule of Proceeds From Sales of Available for Sale Securities (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Schedule of Available-for-sale Securities [Line Items]
Fixed maturities	$ 211,542	$ 219,195
Equity securities	22,327	$ 35,837
Preferred Stock
Schedule of Available-for-sale Securities [Line Items]
Equity securities	$ 1,540

Schedule of Investment Income (

Schedule of Investment Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Schedule of Available-for-sale Securities [Line Items]
Investment income	$ 10,044	$ 8,835	$ 19,121	$ 18,248
Investment expense	(903)	(1,158)	(1,739)	(2,287)
Net investment income	9,141	7,677	17,382	15,961
Fixed Maturities
Schedule of Available-for-sale Securities [Line Items]
Investment income	8,022	6,797	16,036	14,052
Equity Securities
Schedule of Available-for-sale Securities [Line Items]
Investment income	924	1,941	1,716	4,081
Cash and Cash Equivalents
Schedule of Available-for-sale Securities [Line Items]
Investment income	9	10	27	28
Other Invested Assets
Schedule of Available-for-sale Securities [Line Items]
Investment income	$ 1,089	$ 87	$ 1,342	$ 87

Schedule of Total Investment Re

Schedule of Total Investment Return (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net Investment Income [Line Items]
Net investment income		$ 9,141	$ 7,677	$ 17,382	$ 15,961
Net realized investment gains		6,532	39,881	3,562	39,068
Change in unrealized investment losses		(9,752)	(29,203)	(5,155)	(31,774)
Net realized and unrealized investment returns		(3,220)	10,678	(1,593)	7,294
Total investment return		$ 5,921	$ 18,355	$ 15,789	$ 23,255
Total investment return %	[1]	0.30%	1.20%	0.90%	1.50%
Average investment portfolio	[2]	$ 1,776,326	$ 1,577,630	$ 1,758,103	$ 1,585,304
[1]	Not annualized.
[2]	Average of total cash and invested assets, net of receivable/payable for securities purchased and sold, as of the beginning and end of the period.

Municipal Bonds with and withou

Municipal Bonds with and without Insurance (Detail) $ in Thousands	Jun. 30, 2015USD ($)
Financial Statement Details [Line Items]
Ratings with insurance	$ 515
Ratings without insurance	515
AA Rating
Financial Statement Details [Line Items]
Ratings with insurance	515
BB Rating
Financial Statement Details [Line Items]
Ratings without insurance	$ 515

Summary of Insurance Enhanced M

Summary of Insurance Enhanced Municipal Bonds Backed by Financial Guarantors (Detail) $ in Thousands	Jun. 30, 2015USD ($)
Schedule of Available-for-sale Securities [Line Items]
Investments in insurance enhanced municipal bonds	$ 17,454
Ambac Financial Group
Schedule of Available-for-sale Securities [Line Items]
Investments in insurance enhanced municipal bonds	1,688
Assured Guaranty Corporation
Schedule of Available-for-sale Securities [Line Items]
Investments in insurance enhanced municipal bonds	3,692
Municipal Bond Insurance Association
Schedule of Available-for-sale Securities [Line Items]
Investments in insurance enhanced municipal bonds	5,159
Gov't National Housing Association
Schedule of Available-for-sale Securities [Line Items]
Investments in insurance enhanced municipal bonds	552
Financial Guarantors
Schedule of Available-for-sale Securities [Line Items]
Investments in insurance enhanced municipal bonds	11,091
Other Credit Enhanced Municipal Bonds
Schedule of Available-for-sale Securities [Line Items]
Investments in insurance enhanced municipal bonds	6,363
Pre-Refunded Securities
Schedule of Available-for-sale Securities [Line Items]
Investments in insurance enhanced municipal bonds	6,501
Pre-Refunded Securities | Ambac Financial Group
Schedule of Available-for-sale Securities [Line Items]
Investments in insurance enhanced municipal bonds	138
Pre-Refunded Securities | Financial Guarantors
Schedule of Available-for-sale Securities [Line Items]
Investments in insurance enhanced municipal bonds	138
Pre-Refunded Securities | Other Credit Enhanced Municipal Bonds
Schedule of Available-for-sale Securities [Line Items]
Investments in insurance enhanced municipal bonds	6,363
Government Guaranteed Securities
Schedule of Available-for-sale Securities [Line Items]
Investments in insurance enhanced municipal bonds	552
Government Guaranteed Securities | Gov't National Housing Association
Schedule of Available-for-sale Securities [Line Items]
Investments in insurance enhanced municipal bonds	552
Government Guaranteed Securities | Financial Guarantors
Schedule of Available-for-sale Securities [Line Items]
Investments in insurance enhanced municipal bonds	552
Exposure Net Of Pre-refunded & Government Guaranteed Securities
Schedule of Available-for-sale Securities [Line Items]
Investments in insurance enhanced municipal bonds	10,401
Exposure Net Of Pre-refunded & Government Guaranteed Securities | Ambac Financial Group
Schedule of Available-for-sale Securities [Line Items]
Investments in insurance enhanced municipal bonds	1,550
Exposure Net Of Pre-refunded & Government Guaranteed Securities | Assured Guaranty Corporation
Schedule of Available-for-sale Securities [Line Items]
Investments in insurance enhanced municipal bonds	3,692
Exposure Net Of Pre-refunded & Government Guaranteed Securities | Municipal Bond Insurance Association
Schedule of Available-for-sale Securities [Line Items]
Investments in insurance enhanced municipal bonds	5,159
Exposure Net Of Pre-refunded & Government Guaranteed Securities | Financial Guarantors
Schedule of Available-for-sale Securities [Line Items]
Investments in insurance enhanced municipal bonds	$ 10,401

Summary of Estimated Fair Value

Summary of Estimated Fair Values of Bonds Held on Deposit (Detail) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Estimated Fair Value		$ 925,451	$ 856,068
On Deposit With Governmental Authorities
Schedule of Available-for-sale Securities [Line Items]
Estimated Fair Value		39,965	32,790
Intercompany Trusts Held For Benefit Of U.S. Policyholders
Schedule of Available-for-sale Securities [Line Items]
Estimated Fair Value		548,038	495,301
Held In Trust Pursuant To Third Party Requirements
Schedule of Available-for-sale Securities [Line Items]
Estimated Fair Value		93,053	95,828
Letter Of Credit Held For Third Party Requirements
Schedule of Available-for-sale Securities [Line Items]
Estimated Fair Value		6,112	9,340
Securities held as collateral for borrowing arrangements
Schedule of Available-for-sale Securities [Line Items]
Estimated Fair Value	[1]	$ 238,283	$ 222,809
[1]	Amount required to collateralize margin borrowing facilities.

Summarized Information of Locat

Summarized Information of Location and Gross Amount of Derivatives' Fair Value in Consolidated Balance Sheets (Detail) - Not Designated as Hedging Instrument - Interest Rate Swap - Other Liabilities - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Notional Amount	$ 200,000	$ 200,000
Fair Value	$ (11,801)	$ (13,675)

Summary of Net Losses Included

Summary of Net Losses Included in Consolidated Statement of Operations for Changes in Fair Value of Derivatives and Periodic net Interest Settlements Under Derivatives (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Interest Rate Swap | Net Realized Investment Gains
Derivative Instruments, Gain (Loss) [Line Items]
Net gain (loss) for changes in fair value and net settlements of derivatives	$ 5,057	$ (6,018)	$ (825)	$ (12,360)

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Detail) - Other Assets $ in Millions	Jun. 30, 2015USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Collateral posted for derivatives	$ 5.3
Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Margin calls made in connection with interest rate swaps	$ 13.1

Company's Invested Assets and D

Company's Invested Assets and Derivative Instruments Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	$ 1,703,036	$ 1,439,186
Common Shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	121,238	122,048
Other Invested Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	31,176	33,663
Fixed Maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	1,550,622	1,283,475
Fixed Maturities | U.S. Treasury and Agency Obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	90,256	80,767
Fixed Maturities | Obligations of States and Political Subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	232,532	191,473
Fixed Maturities | Mortgage Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	203,980	208,759
Fixed Maturities | Commercial Mortgage-Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	170,968	133,158
Fixed Maturities | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	258,171	178,263
Fixed Maturities | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	455,848	383,416
Fixed Maturities | Foreign Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	138,867	107,639
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	1,703,036	1,439,186
Total invested liabilities	11,801	13,675
Fair Value, Measurements, Recurring | Derivative instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested liabilities	11,801	13,675
Fair Value, Measurements, Recurring | Common Shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	121,238	122,048
Fair Value, Measurements, Recurring | Other Invested Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	31,176	33,663
Fair Value, Measurements, Recurring | Fixed Maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	1,550,622	1,283,475
Fair Value, Measurements, Recurring | Fixed Maturities | U.S. Treasury and Agency Obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	90,256	80,767
Fair Value, Measurements, Recurring | Fixed Maturities | Obligations of States and Political Subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	232,532	191,473
Fair Value, Measurements, Recurring | Fixed Maturities | Mortgage Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	203,980	208,759
Fair Value, Measurements, Recurring | Fixed Maturities | Commercial Mortgage-Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	170,968	133,158
Fair Value, Measurements, Recurring | Fixed Maturities | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	258,171	178,263
Fair Value, Measurements, Recurring | Fixed Maturities | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	455,848	383,416
Fair Value, Measurements, Recurring | Fixed Maturities | Foreign Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	138,867	107,639
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	201,494	196,813
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Common Shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	121,238	122,048
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Fixed Maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	80,256	74,765
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Fixed Maturities | U.S. Treasury and Agency Obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	80,256	74,765
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	1,470,366	1,208,710
Total invested liabilities	11,801	13,675
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Derivative instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested liabilities	11,801	13,675
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Fixed Maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	1,470,366	1,208,710
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Fixed Maturities | U.S. Treasury and Agency Obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	10,000	6,002
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Fixed Maturities | Obligations of States and Political Subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	232,532	191,473
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Fixed Maturities | Mortgage Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	203,980	208,759
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Fixed Maturities | Commercial Mortgage-Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	170,968	133,158
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Fixed Maturities | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	258,171	178,263
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Fixed Maturities | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	455,848	383,416
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Fixed Maturities | Foreign Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	138,867	107,639
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	31,176	33,663
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Other Invested Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total invested assets	$ 31,176	$ 33,663

Changes in Level 3 Investments

Changes in Level 3 Investments Measured at Fair Value on Recurring Basis (Detail) - Other Invested Assets - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 29,992	$ 5,364	$ 33,663	$ 3,489
Included in accumulated other comprehensive income (loss)	95	(204)	458	(430)
Equity in Limited Partnership	1,089		1,342
Purchases		9,874		11,975
Distributions			(4,287)
Ending balance	$ 31,176	$ 15,034	$ 31,176	$ 15,034

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - Jun. 30, 2015 - USD ($) $ in Thousands	Total	Total
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity in the earnings of a partnership	$ 1,100	$ 1,342

Fair Value and Future Funding C

Fair Value and Future Funding Commitments Related to These Investments (Detail) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value		$ 31,176	$ 33,663
Future Funding Commitments		25,955	22,500
Equity Fund, LP
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	[1]	3,325	3,401
Future Funding Commitments	[1]	2,391	2,436
European Non-Performing Loan Fund, LP
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	[2]	27,851	30,262
Future Funding Commitments	[2]	$ 23,564	$ 20,064
[1]	This limited partnership invests in companies from various business sectors whereby the partnership has acquired control of the operating business as a lead or organizing investor. The Company does not have the contractual option to redeem its limited partnership interest but receives distributions based on the liquidation of the underlying assets. The Company does not have the ability to sell or transfer its limited partnership interest without consent from the general partner.
[2]	This limited partnership invests in distressed securities and assets through senior and subordinated, secured and unsecured debt and equity, in both public and private large-cap and middle-market companies. The Company does not have the contractual option to redeem its limited partnership interest but receives distributions based on the liquidation of the underlying assets. The Company does not have the ability to sell or transfer its limited partnership interest without consent from the general partner.

Fair Value and Future Funding66

Fair Value and Future Funding Commitments Related to These Investments (Parenthetical) (Detail)	6 Months Ended
	Jun. 30, 2015USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value written down	$ 0

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Income Tax [Line Items]
Effective income tax rate	(13.70%)	25.90%	(37.80%)	18.80%
Deferred tax assets, valuation allowance	$ 0		$ 0		$ 0
Alternative minimum tax credit carry forward	10,473,000		10,473,000		10,473,000
Net operating loss carryforwards	$ 0		$ 0		$ 0
UNITED STATES
Income Tax [Line Items]
Statutory income tax rates			35.00%
BERMUDA
Income Tax [Line Items]
Statutory income tax rates			0.00%
CAYMAN ISLANDS
Income Tax [Line Items]
Statutory income tax rates			0.00%
GIBRALTAR
Income Tax [Line Items]
Statutory income tax rates			0.00%
LUXEMBOURG
Income Tax [Line Items]
Statutory income tax rates			29.22%
IRELAND | Non Trading Income
Income Tax [Line Items]
Statutory income tax rates			25.00%
IRELAND | Capital Gain
Income Tax [Line Items]
Statutory income tax rates			33.00%
IRELAND | Trading Income
Income Tax [Line Items]
Statutory income tax rates			12.50%

Income Before Income Taxes from

Income Before Income Taxes from its Non-U.S. Subsidiaries and U.S. Subsidiaries (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues:
Gross premiums written	$ 166,515	$ 82,905	$ 309,384	$ 160,102
Net premiums written	146,005	76,372	272,109	149,233
Net premiums earned	128,877	66,017	256,214	133,561
Net investment income	9,141	7,677	17,382	15,961
Net realized investment gains (losses)	6,532	39,881	3,562	39,068
Other income (loss)	577	155	1,129	323
Total revenues	145,127	113,730	278,287	188,913
Losses and Expenses:
Net losses and loss adjustment expenses	79,560	38,270	149,179	76,842
Acquisition costs and other underwriting expenses	50,926	27,171	99,184	53,656
Corporate and other operating expenses	4,334	3,172	15,874	6,133
Interest expense	535	319	1,040	510
Income (loss) before income taxes	9,772	44,798	13,010	51,772
Non-U.S. Subsidiaries
Revenues:
Gross premiums written	83,601	51,328	222,397	101,327
Net premiums written	83,601	50,312	222,358	100,311
Net premiums earned	72,471	40,959	144,135	83,313
Net investment income	11,320	7,583	21,502	15,234
Net realized investment gains (losses)	(118)	(225)	(387)	1,027
Other income (loss)	13	(5)	(66)	(3)
Total revenues	83,686	48,312	165,184	99,571
Losses and Expenses:
Net losses and loss adjustment expenses	39,621	12,921	75,805	32,879
Acquisition costs and other underwriting expenses	31,570	17,081	61,864	34,875
Corporate and other operating expenses	(334)	1,511	1,747	2,878
Interest expense	430	214	824	454
Income (loss) before income taxes	12,399	16,585	24,944	28,485
U.S. Subsidiaries
Revenues:
Gross premiums written	148,038	60,555	271,042	113,547
Net premiums written	62,404	26,060	49,751	48,922
Net premiums earned	56,406	25,058	112,079	50,248
Net investment income	4,325	4,905	8,811	10,325
Net realized investment gains (losses)	6,650	40,106	3,949	38,041
Other income (loss)	564	160	1,195	326
Total revenues	67,945	70,229	126,034	98,940
Losses and Expenses:
Net losses and loss adjustment expenses	39,939	25,349	73,374	43,963
Acquisition costs and other underwriting expenses	19,356	10,090	37,320	18,781
Corporate and other operating expenses	4,668	1,661	14,127	3,255
Interest expense	6,609	4,916	13,147	9,654
Income (loss) before income taxes	(2,627)	28,213	(11,934)	23,287
Eliminations
Revenues:
Gross premiums written	(65,124)	(28,978)	(184,055)	(54,772)
Net investment income	(6,504)	(4,811)	(12,931)	(9,598)
Total revenues	(6,504)	(4,811)	(12,931)	(9,598)
Losses and Expenses:
Interest expense	$ (6,504)	$ (4,811)	$ (12,931)	$ (9,598)

Components of Income Tax Expens

Components of Income Tax Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Current income tax expense:
Foreign	$ 70	$ 61	$ 161	$ 125
U.S. Federal	(2,657)	7,821	(1,547)	7,551
Total current income tax expense (benefit)	(2,587)	7,882	(1,386)	7,676
Deferred income tax expense (benefit):
U.S. Federal	1,242	3,708	(3,515)	2,065
Total deferred income tax expense (benefit)	1,242	3,708	(3,515)	2,065
Total income tax expense (benefit)	$ (1,345)	$ 11,590	$ (4,901)	$ 9,741

Differences in Tax Provision fo

Differences in Tax Provision for Financial Statement Purposes and Expected Tax Provision at Weighted Average Tax Rate (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Tax [Line Items]
Expected tax provision at weighted average, Amount	$ (848)	$ 9,925	$ (4,015)	$ 8,263
Adjustments:
Tax exempt interest, Amount	(83)	(155)	(219)	(370)
Dividend exclusion, Amount	(258)	(479)	(413)	(957)
Effective tax rate adjustment, Amount		1,811		2,312
Other, Amount	(156)	488	(254)	493
Total income tax expense (benefit)	$ (1,345)	$ 11,590	$ (4,901)	$ 9,741
Expected tax provision at weighted average rate, % of Pre-Tax Income	(8.70%)	22.20%	(30.90%)	16.00%
Adjustments:
Tax exempt interest, % of Pre-Tax Income	(0.80%)	(0.30%)	(1.70%)	(0.70%)
Dividend exclusion, % of Pre-Tax Income	(2.60%)	(1.10%)	(3.20%)	(1.90%)
Effective tax rate adjustment, % of Pre-Tax Income		4.00%		4.50%
Other, % of Pre-Tax Income	(1.60%)	1.10%	(2.00%)	0.90%
Actual tax on continuing operations, % of Pre-Tax Income	(13.70%)	25.90%	(37.80%)	18.80%

Tax Effects of Temporary Differ

Tax Effects of Temporary Differences That Give Rise to Significant Portions of Net Deferred Tax Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Deferred tax assets:
Discounted unpaid losses and loss adjustment expenses	$ 8,351	$ 7,492
Unearned premiums	8,061	3,409
Alternative minimum tax credit carryover	10,473	10,473
Partnership K1 basis differences	145	145
Capital gain on derivative instruments	4,130	4,786
Investment impairments	1,097	379
Stock options	2,306	2,048
Deferred acquisition costs	1,606	187
Stat-to-GAAP reinsurance reserve	1,424	1,424
Intercompany transfers	1,807	1,919
Other	4,082	3,050
Total deferred tax assets	43,482	35,312
Deferred tax liabilities:
Intangible assets	6,218	3,220
Unrealized gain on securities available-for-sale and investments in limited partnerships included in accumulated other comprehensive income	8,390	10,263
Investment basis differences	979	692
Depreciation and amortization	129	16
Other	882	871
Total deferred tax liabilities	16,598	15,062
Total net deferred tax assets	$ 26,884	$ 20,250

Summarized Activity in Liabilit

Summarized Activity in Liability for Unpaid Losses and Loss Adjustment Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Liability for Claims and Claims Adjustment Expense [Line Items]
Balance at beginning of period	$ 770,119	$ 779,047	$ 675,472	$ 779,466
Less:Ceded reinsurance receivables	140,508	195,533	123,201	192,491
Net balance at beginning of period	629,611	583,514	552,271	586,975
Purchased reserves, gross	(584)		88,370
Less: Purchased reserves ceded			11,681
Purchased reserves, net	(584)		76,689
Incurred losses and loss adjustment expenses related to:
Current year	84,724	42,298	157,838	82,964
Prior years	(5,164)	(4,028)	(8,659)	(6,122)
Total incurred losses and loss adjustment expenses	79,560	38,270	149,179	76,842
Paid losses and loss adjustment expenses related to:
Current year	45,379	15,785	60,061	23,997
Prior years	32,406	30,402	87,276	64,223
Total paid losses and loss adjustment expenses	77,785	46,187	147,337	88,220
Net balance at end of period	630,802	575,597	630,802	575,597
Plus:Ceded reinsurance receivables	138,497	178,998	138,497	178,998
Balance at end of period	$ 769,299	$ 754,595	$ 769,299	$ 754,595

Liability for Unpaid Losses a73

Liability for Unpaid Losses and Loss Adjustment Expenses - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve	$ (5,164)	$ (4,028)	$ (8,659)	$ (6,122)
Commercial Lines Segment
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve	(3,600)	(3,000)	(5,600)	(5,000)
Commercial Lines Segment | General Liability
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve		800
Commercial Lines Segment | General Liability | Ongoing General Liability Book
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve		(6,000)
Commercial Lines Segment | General Liability | Older Environmentally Exposed Book
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve		6,800
Commercial Lines Segment | General Liability | Accident Years 2011 and 2012
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve	(1,100)		(1,800)
Commercial Lines Segment | Other Lines
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve		(700)
Commercial Lines Segment | Property Lines | Accident Years Two Thousand Nine Through Two Thousand Thirteen
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve			(800)
Commercial Lines Segment | Professional | Accident Years 2007 through 2010
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve		(10,000)		(11,800)
Commercial Lines Segment | Professional | Accident Years Two Thousand Six Through Two Thousand Eleven
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve	(2,900)		(2,900)
Commercial Lines Segment | Umbrella Lines | Accident Years 2003 through 2005
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve			(300)
Commercial Lines Segment | Asbestos | Accident Years Prior to 1990
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve		6,900		6,900
Reinsurance Operations
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve	(1,600)	(1,000)	(3,100)	(1,100)
Reinsurance Operations | Accident Years 2011 through 2014
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve	$ (1,600)		$ (3,100)
Reinsurance Operations | Property Lines | Accident Year 2012
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve		(1,300)
Reinsurance Operations | Property Lines | Accident Years 2011 and 2012
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve				(1,300)
Reinsurance Operations | Commercial Auto Liability | Accident Years 2009Through 2011
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Changes in prior year reserve		$ 300		$ 200

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Outstanding amount of margin borrowing facility	$ 187,407	$ 174,673
Margin borrowing facilities
Debt Instrument [Line Items]
Stated interest rate	1.00%
Collateral deposited to support borrowing	$ 238,300

Information with Respect to Ord

Information with Respect to Ordinary Shares that were Surrendered or Repurchased (Detail) - $ / shares		3 Months Ended
		Jun. 30, 2015	Jun. 30, 2014
Equity, Class of Treasury Stock [Line Items]
Total Number of Shares Purchased		596	0
Average Price Paid Per Share		$ 27.01
Total Number of Shares Purchased as Part of Publicly Announced Plan or Program		0
May 1-31, 2015
Equity, Class of Treasury Stock [Line Items]
Total Number of Shares Purchased	[1],[2]	596
Average Price Paid Per Share	[1]	$ 27.01
Total Number of Shares Purchased as Part of Publicly Announced Plan or Program	[1]	0
[1]	Based on settlement date.
[2]	Surrendered by employees as payment of taxes withheld on the vesting of restricted A ordinary shares.

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Detail) - shares	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Shareholders Equity [Line Items]
Shares repurchased	596	0

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)	Jan. 01, 2015	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Related Party Transaction [Line Items]
Distribution received from the limited partnership				$ 4,287,000
Fox Paine & Company, LLC
Related Party Transaction [Line Items]
Company's total outstanding voting power		93.00%		93.00%
Minimum voting power required to nominate Directors		25.00%		25.00%
Management fees		$ 500,000	$ 500,000	$ 1,000,000	$ 1,000,000
Unpaid management fees		1,600,000		1,600,000		$ 600,000
Fox Paine & Company, LLC | Global Indemnity Group Inc | American Reliable Insurance Company
Related Party Transaction [Line Items]
Investment bank fee as a percentage of the amount paid plus required capital to operate American Reliable on a standalone basis	3.00%
Investment advisory fee	$ 1,500,000
Investment advisory fee	$ 6,500,000
Ordinary shares of Global Indemnity issued to pay fees	267,702
Fox Paine Capital Fund II Limited Partner | Global Indemnity Reinsurance
Related Party Transaction [Line Items]
Company's investment in limited partnership		3,300,000		3,300,000		$ 3,400,000
Unfunded capital commitment		2,400,000		2,400,000
Distribution received from the limited partnership		0	0	800,000	0
Cozen O'Connor
Related Party Transaction [Line Items]
Cost incurred for legal services rendered		200,000	60,000	300,000	90,000
Crystal & Company
Related Party Transaction [Line Items]
Brokerage fee incurred		$ 60,000	$ 60,000	$ 100,000	$ 100,000

Estimated Earned Premium and In

Estimated Earned Premium and Incurred Losses (Detail) - Hiscox Bermuda - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Related Party Transaction [Line Items]
Assumed earned premium	$ 886	$ 1,802	$ 2,248	$ 2,816
Assumed losses and loss adjustment expenses	$ 239	$ 541	$ 643	$ 845

Net Balances due to Global Inde

Net Balances due to Global Indemnity Reinsurance (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Hiscox Bermuda
Related Party Transaction [Line Items]
Net receivable balance	$ 174	$ 2,897

Commitments And Contingencies -

Commitments And Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Commitments and Contingencies [Line Items]
Commitment to purchase alternative investment	$ 50,000
Funded commitment amount	26,500
Future Funding Commitments	25,955	$ 22,500
Unfunded Commitments | Equity Fund, LP
Commitments and Contingencies [Line Items]
Future Funding Commitments	2,400
Unfunded Commitments | European Non-Performing Loan Fund, LP
Commitments and Contingencies [Line Items]
Future Funding Commitments	$ 23,600

Share-Based Compensation Plans

Share-Based Compensation Plans - Additional Information (Detail) - $ / shares	Jun. 11, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Time Based Option Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options awarded		0	0	200,000	25,000
Strike price per share				$ 28.37	$ 24
Percentage of shares vested on each anniversary of the grant date				33.33%
Unvested stock options forfeited		0	0
Time-based options vesting date				2017-02	2017-02
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued		0
Restricted Stock | Key Employee | Time Based Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued				83,875	78,166
Restricted Stock | Key Employee | Stock vest first anniversary of the grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares vested on each anniversary of the grant date				16.50%
Vesting period				1 year
Restricted Stock | Key Employee | Stock vest second anniversary of the grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares vested on each anniversary of the grant date				16.50%
Vesting period				2 years
Restricted Stock | Key Employee | Stock vest third anniversary of the grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares vested on each anniversary of the grant date				17.00%
Vesting period				3 years
Restricted Stock | Key Employee | Vesting Schedule Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares vested on each anniversary of the grant date				100.00%	100.00%
Vesting period				3 years	3 years
Percentage of stock award subject to vesting				50.00%	50.00%
Restricted Stock | Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares vested on each anniversary of the grant date				33.33%	33.33%
Number of shares issued				10,574	11,587
Vesting period				3 years	3 years
Restricted Stock | Chief Executive Officer And Other Key Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares vested on each anniversary of the grant date				100.00%
Number of shares issued				44,058
Vesting date				Jan. 18, 2018
Ordinary Shares A | Share Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized to be issued	2,000,000
Ordinary Shares A | Key Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued	90,023		5,671	138,507	95,694
Weighted average grant date value of shares granted			$ 26.45	$ 28.37	$ 25.37
Ordinary Shares A | Key Employee | First Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares vested on each anniversary of the grant date					33.33%
Number of shares issued					5,671
Vesting period					3 years
Ordinary Shares A | Non Employee Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date value of shares granted		$ 28.08	$ 25.99	$ 27.91	$ 26.16
Number of shares earned not granted until 2nd quarter, 2014		8,798	9,250	18,045	18,178
Ordinary Shares A | Non Employee Director | Revised Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued	27,766

Computation of Basic and Dilute

Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Net income (loss)	$ 11,117	$ 33,208	$ 17,911	$ 42,031
Weighted average shares outstanding - basic	25,454,579	25,128,280	25,447,398	25,121,171
Net income per share	$ 0.44	$ 1.32	$ 0.70	$ 1.67
Weighted average shares outstanding - diluted	25,680,997	25,312,938	25,659,869	25,301,783
Net income per share	$ 0.43	$ 1.31	$ 0.70	$ 1.66

Reconciliation of Weighted Aver

Reconciliation of Weighted Average Shares for Basic and Diluted Earnings Per Share (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Reconciliation Of Basic Weighted Average Shares To Diluted Weighted Average Shares [Line Items]
Weighted average shares for basic earnings per share	25,454,579	25,128,280	25,447,398	25,121,171
Weighted average shares for diluted earnings per share	25,680,997	25,312,938	25,659,869	25,301,783
Restricted Stock
Reconciliation Of Basic Weighted Average Shares To Diluted Weighted Average Shares [Line Items]
Non-vested restricted stock and options	122,141	77,880	109,308	77,125
Stock Options
Reconciliation Of Basic Weighted Average Shares To Diluted Weighted Average Shares [Line Items]
Non-vested restricted stock and options	104,277	106,778	103,163	103,487

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Line Items]
Shares excluded from calculation of diluted earnings per share	512,500	37,500	512,500	37,500

Segment Information - Additiona

Segment Information - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2015Segment
Segment Reporting Information [Line Items]
Number of business segments managed	3

Summary of Business Segment Inf

Summary of Business Segment Information (Detail) - USD ($) $ in Thousands		3 Months Ended				6 Months Ended
		Jun. 30, 2015		Jun. 30, 2014		Jun. 30, 2015		Jun. 30, 2014		Dec. 31, 2014
Revenues:
Gross premiums written		$ 166,515		$ 82,905		$ 309,384		$ 160,102
Net premiums written		146,005		76,372		272,109		149,233
Net premiums earned		128,877		66,017		256,214		133,561
Other income (loss)		577		155		1,129		323
Total revenues		129,454		66,172		257,343		133,884
Losses and Expenses:
Net losses and loss adjustment expenses		79,560		38,270		149,179		76,842
Acquisition costs and other underwriting expenses		50,926		27,171		99,184		53,656
Income (loss) from segments		(1,032)		731		8,980		3,386
Unallocated Items:
Net investment income		9,141		7,677		17,382		15,961
Net realized investment gains		6,532		39,881		3,562		39,068
Corporate and other operating expenses		(4,334)		(3,172)		(15,874)		(6,133)
Interest expense		(535)		(319)		(1,040)		(510)
Income before income taxes		9,772		44,798		13,010		51,772
Income tax benefit		1,345		(11,590)		4,901		(9,741)
Net income		11,117		33,208		17,911		42,031
Total assets		2,260,458		1,977,687		2,260,458		1,977,687		$ 1,930,033
Commercial Lines
Revenues:
Gross premiums written	[1]	59,033		60,556		108,826		113,548
Net premiums written	[1]	54,700		55,039		100,322		103,695
Net premiums earned	[1]	49,614		53,034		100,328		106,347
Other income (loss)	[1]	153		160		318		326
Total revenues	[1]	49,767		53,194		100,646		106,673
Losses and Expenses:
Net losses and loss adjustment expenses	[1]	30,039		33,875		59,642		67,472
Acquisition costs and other underwriting expenses	[1]	20,008	[2]	22,560	[3]	40,631	[4]	44,278	[5]
Income (loss) from segments	[1]	(280)		(3,241)		373		(5,077)
Unallocated Items:
Total assets	[1]	944,744		1,316,314		944,744		1,316,314
Personal Lines
Revenues:
Gross premiums written	[1]	89,004				162,215
Net premiums written	[1]	72,827				133,483
Net premiums earned	[1]	65,918				129,340
Other income (loss)	[1]	411				877
Total revenues	[1]	66,329				130,217
Losses and Expenses:
Net losses and loss adjustment expenses	[1]	45,180				81,098
Acquisition costs and other underwriting expenses	[1]	26,065	[6]			48,811	[7]
Income (loss) from segments	[1]	(4,916)				308
Unallocated Items:
Total assets	[1]	554,302				554,302
Reinsurance Operations
Revenues:
Gross premiums written	[8]	18,478		22,349		38,343		46,554
Net premiums written	[8]	18,478		21,333		38,304		45,538
Net premiums earned	[8]	13,345		12,983		26,546		27,214
Other income (loss)	[8]	13		(5)		(66)		(3)
Total revenues	[8]	13,358		12,978		26,480		27,211
Losses and Expenses:
Net losses and loss adjustment expenses	[8]	4,341		4,395		8,439		9,370
Acquisition costs and other underwriting expenses	[8]	4,853		4,611		9,742		9,378
Income (loss) from segments	[8]	4,164		3,972		8,299		8,463
Unallocated Items:
Total assets	[8],[9]	$ 761,412		$ 661,373		$ 761,412		$ 661,373
[1]	Includes business ceded to the Company's Reinsurance Operations.
[2]	Includes federal excise tax of $261 relating to cessions from Commercial Lines to Reinsurance Operations.
[3]	Includes federal excise tax of $281 relating to cessions from Commercial Lines to Reinsurance Operations.
[4]	Includes federal excise tax of $529 relating to cessions from Commercial Lines to Reinsurance Operations.
[5]	Includes federal excise tax of $561 relating to cessions from Commercial Lines to Reinsurance Operations.
[6]	Includes federal excise tax of $330 relating to cessions from Personal Lines to Reinsurance Operations.
[7]	Includes federal excise tax of $647 relating to cessions from Personal Lines to Reinsurance Operations.
[8]	External business only, excluding business assumed from affiliates.
[9]	Comprised of Global Indemnity Reinsurance's total assets less its investment in subsidiaries.

Summary of Business Segment I87

Summary of Business Segment Information (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Commercial Lines
Segment Reporting Information [Line Items]
Federal excise tax relating to cessions from Insurance Operations to Reinsurance Operations	$ 261	$ 281	$ 529	$ 561
Personal Lines
Segment Reporting Information [Line Items]
Federal excise tax relating to cessions from Insurance Operations to Reinsurance Operations	$ 330		$ 647