National General (NTTNP) 10-Q 6 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Statement - shares	3 Months Ended
	Mar. 31, 2019	May 02, 2019
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Trading Symbol	NGHC
Entity Registrant Name	NATIONAL GENERAL HOLDINGS CORP.
Entity Central Index Key	0001578735
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		113,168,026

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Investments:
Debt securities, available-for-sale, at fair value (Exchanges - $299,282 and $297,083)	$ 3,635,347	$ 3,561,032
Equity securities, at fair value	10,285	10,949
Short-term investments (Exchanges - $19,632 and $17,328)	390,052	348,549
Other investments (related parties - $233,555 and $233,723)	305,971	306,276
Total investments	4,341,655	4,226,806
Cash and cash equivalents	188,064	193,858
Restricted cash and cash equivalents (Exchanges - $293 and $200)	32,208	39,725
Accrued investment income (related parties - $1,188 and $2,362) (Exchanges - $2,135 and $1,596)	26,451	27,177
Premiums and other receivables, net (Exchanges - $60,293 and $61,327)	1,608,251	1,399,812
Deferred acquisition costs (Exchanges - $20,305 and $20,007)	268,177	251,408
Reinsurance recoverable (related parties - $6,136 and $7,425) (Exchanges - $125,722 and $117,068)	1,489,565	1,611,738
Prepaid reinsurance premiums (Exchanges - $127,210 and $136,433)	637,024	665,674
Premises and equipment, net (Exchanges - $1,183 and $1,695)	413,180	308,004
Intangible assets, net (Exchanges - $3,360 and $3,405)	372,812	379,937
Goodwill	180,183	180,183
Prepaid and other assets (Exchanges - $5,592 and $4,581)	73,997	154,958
Total assets	9,631,567	9,439,280
Liabilities:
Unpaid loss and loss adjustment expense reserves (Exchanges - $196,022 and $178,470)	2,870,323	2,957,159
Unearned premiums and other revenue (Exchanges - $258,701 and $265,763)	2,440,280	2,280,728
Reinsurance payable (Exchanges - $31,579 and $40,393)	524,859	656,265
Accounts payable and accrued expenses (related parties - $19,196 and $69,874) (Exchanges - $6,160 and $7,720)	362,267	398,058
Debt	710,196	705,795
Other liabilities (Exchanges - $58,539 and $61,640)	392,160	240,404
Total liabilities	7,300,085	7,238,409
Stockholders’ equity:
Common stock, $0.01 par value - authorized 150,000,000 shares, issued and outstanding 113,137,346 shares - 2019; authorized 150,000,000 shares, issued and outstanding 112,940,595 shares - 2018.	1,131	1,129
Preferred stock, $0.01 par value - authorized 10,000,000 shares, issued and outstanding 2,565,120 shares - 2019; authorized 10,000,000 shares, issued and outstanding 2,565,120 shares - 2018. Aggregate liquidation preference $450,000 - 2019, $450,000 - 2018.	450,000	450,000
Additional paid-in capital	1,058,061	1,057,783
Accumulated other comprehensive income:
Unrealized foreign currency translation adjustment, net of tax	(17,825)	(14,461)
Unrealized gain (loss) on investments, net of tax	18,406	(37,669)
Total accumulated other comprehensive income (loss)	581	(52,130)
Retained earnings	843,415	764,056
Total National General Holdings Corp. Stockholders’ Equity	2,353,188	2,220,838
Non-controlling interest	(21,706)	(19,967)
Total stockholders’ equity	2,331,482	2,200,871
Total liabilities and stockholders’ equity	$ 9,631,567	$ 9,439,280

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Debt securities, available-for-sale	$ 3,635,347	$ 3,561,032
Short-term investments	390,052	348,549
Other investments	305,971	306,276
Restricted cash and cash equivalents	32,208	39,725
Accrued investment income	26,451	27,177
Premiums and other receivables, net	1,608,251	1,399,812
Deferred acquisition costs	268,177	251,408
Reinsurance recoverable	1,489,565	1,611,738
Prepaid reinsurance premiums	637,024	665,674
Premises and equipment, net	413,180	308,004
Intangible assets, net	372,812	379,937
Prepaid and other assets	73,997	154,958
Unpaid loss and loss adjustment expense reserves	2,870,323	2,957,159
Unearned premiums and other revenue	2,440,280	2,280,728
Reinsurance payable	524,859	656,265
Accounts payable and accrued expenses	362,267	398,058
Other liabilities	$ 392,160	$ 240,404
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	113,137,346	112,940,595
Common stock, shares outstanding	113,137,346	112,940,595
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	2,565,120	2,565,120
Preferred stock, shares outstanding	2,565,120	2,565,120
Aggregate liquidation preference	$ 450,000	$ 450,000
Related Parties
Other investments	233,555	233,723
Accrued investment income	1,188	2,362
Reinsurance recoverable	6,136	7,425
Accounts payable and accrued expenses	19,196	69,874
Reciprocal Exchanges
Debt securities, available-for-sale	299,282	297,083
Short-term investments	19,632	17,328
Restricted cash and cash equivalents	293	200
Accrued investment income	2,135	1,596
Premiums and other receivables, net	60,293	61,327
Deferred acquisition costs	20,305	20,007
Reinsurance recoverable	125,722	117,068
Prepaid reinsurance premiums	127,210	136,433
Premises and equipment, net	1,183	1,695
Intangible assets, net	3,360	3,405
Prepaid and other assets	5,592	4,581
Unpaid loss and loss adjustment expense reserves	196,022	178,470
Unearned premiums and other revenue	258,701	265,763
Reinsurance payable	31,579	40,393
Accounts payable and accrued expenses	6,160	7,720
Other liabilities	$ 58,539	$ 61,640

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues:
Net earned premium	$ 964,157	$ 905,538
Ceding commission income	69,534	44,468
Service and fee income	165,507	142,122
Net investment income	33,445	25,011
Net gain on investments	22	118
Total revenues	1,232,665	1,117,257
Expenses:
Loss and loss adjustment expense	651,809	634,166
Acquisition costs and other underwriting expenses	211,918	168,710
General and administrative expenses	248,094	231,005
Interest expense	12,999	11,154
Total expenses	1,124,820	1,045,035
Income before provision for income taxes	107,845	72,222
Provision for income taxes	22,506	16,202
Net income	85,339	56,020
Net (income) loss attributable to non-controlling interest	6,419	12,188
Net income attributable to NGHC	91,758	68,208
Dividends on preferred stock	(7,875)	(7,875)
Net income attributable to NGHC common stockholders	$ 83,883	$ 60,333
Earnings per common share (“EPS”):
Basic (usd per share)	$ 0.74	$ 0.57
Diluted (usd per share)	$ 0.72	$ 0.55

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 85,339	$ 56,020
Other comprehensive income:
Foreign currency translation adjustment	(4,253)	(907)
Income tax effect	889	188
Total foreign currency translation adjustment, net of tax	(3,364)	(719)
Gross unrealized gain (loss) on investments before reclassifications	76,785	(53,206)
Income tax effect	(16,125)	11,173
Total change in net unrealized gain (loss) on investments, net of tax	60,660	(42,033)
Reclassification adjustments for investments gain/loss to net income:
Net realized loss on investments	120	2
Income tax effect	(25)	0
Total loss on investments reclassifications to net income, net of tax	95	2
Other comprehensive income (loss) before income tax effect	72,652	(54,111)
Income tax effect	(15,261)	11,361
Other comprehensive income (loss), net of tax	57,391	(42,750)
Comprehensive income	142,730	13,270
Comprehensive (income) loss attributable to non-controlling interest	1,739	17,292
Comprehensive income attributable to NGHC	$ 144,469	$ 30,562

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Preferred Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Non-controlling Interest
Common stock, shares outstanding, beginning balance at Dec. 31, 2017		106,697,648
Common stock, amount, beginning balance at Dec. 31, 2017		$ 1,067
Preferred stock, shares outstanding, beginning balance at Dec. 31, 2017			2,565,000
Preferred stock, amount, beginning balance at Dec. 31, 2017			$ 420,000
Total stockholders' equity, amount, beginning balance at Dec. 31, 2017	$ 1,953,425			$ 917,751	$ (8,112)	$ 597,863	$ 24,856
Increase (Decrease) in Stockholders' Equity
Net income (loss)	56,020					68,208	(12,188)
Foreign currency translation adjustment, net of tax	(719)				(719)
Change in unrealized gain (loss) on investments, net of tax	(42,031)				(36,927)		(5,104)
Common stock dividends declared ($0.04 per share)	(4,277)					(4,277)
Preferred stock dividends declared (Series A - $0.46875, Series B and C - $18.75 and Series D - $0 per share)	(7,875)					(7,875)
Common stock issued under employee stock plans and exercises of stock options, shares		251,491
Common stock issued under employee stock plans and exercises of stock options, value	492	$ 2		490
Shares withheld related to net share settlement, shares		(61,573)
Shares withheld related to net share settlement	(1,342)			(1,342)
Stock-based compensation	2,130			2,130
Common stock, shares outstanding, ending balance at Mar. 31, 2018		106,887,566
Common stock, amount, ending balance at Mar. 31, 2018		$ 1,069
Preferred stock, shares outstanding, ending balance at Mar. 31, 2018			2,565,000
Preferred stock, amount, ending balance at Mar. 31, 2018			$ 420,000
Total stockholders' equity, amount, ending balance at Mar. 31, 2018	1,964,653			919,029	(45,722)	662,713	7,564
Increase (Decrease) in Stockholders' Equity
Cumulative-effect adjustment of change in accounting principles	$ 8,830				36	8,794
Common stock, shares outstanding, beginning balance at Dec. 31, 2018	112,940,595	112,940,595
Common stock, amount, beginning balance at Dec. 31, 2018		$ 1,129
Preferred stock, shares outstanding, beginning balance at Dec. 31, 2018	2,565,120		2,565,120
Preferred stock, amount, beginning balance at Dec. 31, 2018			$ 450,000
Total stockholders' equity, amount, beginning balance at Dec. 31, 2018	$ 2,200,871			1,057,783	(52,130)	764,056	(19,967)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	85,339					91,758	(6,419)
Foreign currency translation adjustment, net of tax	(3,364)				(3,364)
Change in unrealized gain (loss) on investments, net of tax	60,755				56,075		4,680
Common stock dividends declared ($0.04 per share)	(4,524)					(4,524)
Preferred stock dividends declared (Series A - $0.46875, Series B and C - $18.75 and Series D - $0 per share)	(7,875)					(7,875)
Common stock issued under employee stock plans and exercises of stock options, shares		292,276
Common stock issued under employee stock plans and exercises of stock options, value	93	$ 2		91
Shares withheld related to net share settlement, shares		(95,525)
Shares withheld related to net share settlement	(2,435)			(2,435)
Stock-based compensation	$ 2,622			2,622
Common stock, shares outstanding, ending balance at Mar. 31, 2019	113,137,346	113,137,346
Common stock, amount, ending balance at Mar. 31, 2019		$ 1,131
Preferred stock, shares outstanding, ending balance at Mar. 31, 2019	2,565,120		2,565,120
Preferred stock, amount, ending balance at Mar. 31, 2019			$ 450,000
Total stockholders' equity, amount, ending balance at Mar. 31, 2019	$ 2,331,482			$ 1,058,061	$ 581	$ 843,415	$ (21,706)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - Retained Earnings - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Common Stock
Common stock dividends declared	$ 0.04	$ 0.04
Series A Preferred Stock
Preferred stock dividends declared	0.46875	0.46875
Series B Preferred Stock
Preferred stock dividends declared	18.75	18.75
Series C Preferred Stock
Preferred stock dividends declared	18.75	$ 18.75
Series D Preferred Stock
Preferred stock dividends declared	$ 0

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net income	$ 85,339	$ 56,020
Adjustments to reconcile net income to cash provided by (used in) operating activities:
Net (gain) loss on investments	(22)	(118)
Bad debt expense	20,967	20,184
Depreciation and amortization	27,135	20,141
Stock-compensation expense	2,622	2,130
Other, net	(1,251)	(7,088)
Changes in assets and liabilities:
Accrued investment income	658	(1,082)
Premiums and other receivables	(228,239)	(200,150)
Deferred acquisition costs	(17,020)	(20,755)
Reinsurance recoverable	121,500	(40,537)
Prepaid reinsurance premiums	28,058	(11,648)
Prepaid expenses and other assets	82,591	38,712
Unpaid loss and loss adjustment expense reserves	(83,073)	17,044
Unearned premiums and other revenue	161,680	213,465
Reinsurance payable	(130,353)	39,036
Accounts payable and accrued expenses	9,458	(52,811)
Other liabilities	35,160	(20,601)
Net cash provided by operating activities	115,210	51,942
Cash flows from investing activities:
Purchases of Debt securities, available-for-sale	(94,525)	(310,241)
Purchases of Short-term investments	(678,000)	(906,325)
Purchases of Other investments	(110)	(2,979)
Purchases of Premises and equipment	(57,622)	(5,716)
Proceeds from Sale and maturity of debt securities, available-for-sale	83,138	193,733
Proceeds from Sale of equity securities	1,700	0
Proceeds from Sale of short-term investments	637,682	904,788
Proceeds from Sale and return of other investments	1,105	109,793
Net cash used in investing activities	(106,632)	(16,947)
Cash flows from financing activities:
Payments of debt issuance costs	(1,726)	0
Repayments of debt and principal payments under capital leases obligations	(3,034)	0
Issuance of common stock — employee share options	93	492
Taxes paid related to net share settlement of equity awards	(2,435)	(1,342)
Dividends paid to common shareholders	(4,518)	(4,268)
Dividends paid to preferred shareholders	(8,867)	(7,875)
Net cash used in financing activities	(20,487)	(12,993)
Effect of exchange rate changes on cash and cash equivalents	(1,402)	(1,433)
Net (decrease) increase in cash, cash equivalents, and restricted cash	(13,311)	20,569
Cash, cash equivalents, and restricted cash at beginning of the period	233,583	357,484
Cash, cash equivalents, and restricted cash at end of the period	220,272	378,053
Common Stock
Dividends Payable
Dividends Payable	4,524	4,277
Preferred Stock
Dividends Payable
Dividends Payable	$ 7,875	$ 7,875

Basis of Reporting

Basis of Reporting	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Reporting	Basis of Reporting The accompanying unaudited interim condensed consolidated financial statements include the accounts of National General Holdings Corp. and its subsidiaries (the “Company” or “NGHC”) and have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the U.S. Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. These interim condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 previously filed with the SEC on February 25, 2019 . The balance sheet at December 31, 2018 , has been derived from the audited consolidated financial statements at that date. These interim condensed consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim period and all such adjustments are of a normal recurring nature. The results of operations for the interim period are not necessarily indicative, if annualized, of those to be expected for the full year. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates. The unaudited condensed consolidated financial statements include the accounts and operations of Adirondack Insurance Exchange, a New York reciprocal insurer, and New Jersey Skylands Insurance Association, a New Jersey reciprocal insurer (together with their subsidiaries, the “Exchanges” or “Reciprocal Exchanges”). The Company has no ownership interest in the Reciprocal Exchanges but manages their business operations and has the ability to direct their activities through its wholly-owned management companies. The Reciprocal Exchanges are property and casualty insurers. As of December 31, 2018 , the Company reclassified finance lease liabilities in the amount of $30,346 from “Other liabilities” to “Debt” on the Condensed Consolidated Balance Sheets to conform to the current-year presentation. A detailed description of the Company’s significant accounting policies and management judgments is located in the notes to the audited consolidated financial statements, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018
Basis of Accounting, Policy	The accompanying unaudited interim condensed consolidated financial statements include the accounts of National General Holdings Corp. and its subsidiaries (the “Company” or “NGHC”) and have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the U.S. Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. These interim condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 previously filed with the SEC on February 25, 2019 . The balance sheet at December 31, 2018 , has been derived from the audited consolidated financial statements at that date. These interim condensed consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim period and all such adjustments are of a normal recurring nature. The results of operations for the interim period are not necessarily indicative, if annualized, of those to be expected for the full year. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Adopted During 2019 Standard Description Date of Adoption Effect on the Company ASU 2016-02, Leases (Topic 842) and related amendments. This standard was issued to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The standard establishes a right-of-use (“ROU”) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. January 1, 2019 The Company adopted the standard as of the beginning of the year of adoption using the modified retrospective transition approach and did not adjust prior comparative periods. The Company recorded the recognition of the ROU asset and lease liability net of deferred rent and inducement costs in both total assets and liabilities in the Condensed Consolidated Balance Sheets of $85,000, net of the deferred tax impact. The adoption of this guidance did not have a material effect on the Company’s Condensed Consolidated Statements of Income and had no impact on cash flows. See Note 9, “Leases” for additional information. Not Yet Adopted With the exception of the adopted or not yet adopted accounting pronouncements discussed here, there have been no recent accounting pronouncements, or quantitative or qualitative progress made towards implementation of outstanding accounting pronouncements during the three months ended March 31, 2019 , as compared to those described in Note 2, “Significant Accounting Policies” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 , that are of significance, or potential significance, to the Company. Standard Description Effective Date Effect on the Company ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This standard significantly changes the impairment model for most financial assets and certain other instruments. ASU 2016-13 will require immediate recognition of estimated credit losses expected to occur over the remaining life of many financial assets, which will generally result in earlier recognition of allowances for credit losses on loans and other financial instruments. Companies will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. Companies will continue to use judgment to determine which loss estimation method is appropriate for their circumstances. In November 2018, the FASB issued ASU 2018-19, “Codification Improvements to Topic 326, Financial Instruments-Credit Losses,” the amendment to ASU 2016-13 which clarifies that receivables arising from operating leases are not within the scope of Topic 326 and impairment of receivables arising from operating leases should be accounted for in accordance with Topic 842, Leases. January 1, 2020 Based on the financial instruments currently held by the Company, it does not expect a material effect on the Company’s consolidated financial condition, results of operations, cash flows and disclosures if the new guidance were able to be adopted in the current accounting period. The impact on the Company’s consolidated financial condition, results of operations, cash flows and disclosures at the date of adoption of the updated guidance will be determined by the financial instruments held by the Company and the economic conditions at that time. The Company’s implementation and evaluation process to date includes, but is not limited to, identifying the financial assets within the scope of the guidance and assessing models for the relevant financial assets. ASU 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. This standard establishes a one-step process for testing the value of the goodwill which an entity carries. ASU 2017-04 requires the goodwill impairment to be measured as the excess of the reporting unit’s carrying amount over its fair value. Early adoption is permitted for interim or annual goodwill impairment tests. January 1, 2020 Based on the goodwill currently held by the Company, there would not be a material effect on the Company’s consolidated financial condition, results of operations, cash flows and disclosures if the new guidance were able to be adopted in the current accounting period.

Investments

Investments	3 Months Ended
	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Investments	Investments (a) Available-For-Sale Debt Securities The amortized cost, gross unrealized gains and losses, and fair value of available-for-sale debt securities were as follows: March 31, 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury $ 61,814 $ 1,348 $ (179 ) $ 62,983 Federal agencies 25,611 22 (17 ) 25,616 States and political subdivision bonds 258,204 3,222 (523 ) 260,903 Foreign government 142,324 2,894 — 145,218 Corporate bonds 1,332,739 23,098 (6,287 ) 1,349,550 Residential mortgage-backed securities 937,003 3,844 (9,837 ) 931,010 Commercial mortgage-backed securities 547,557 14,281 (4,766 ) 557,072 Asset-backed securities 61,198 941 (53 ) 62,086 Structured securities 245,552 179 (4,822 ) 240,909 Total $ 3,612,002 $ 49,829 $ (26,484 ) $ 3,635,347 NGHC $ 3,312,760 $ 47,687 $ (24,382 ) $ 3,336,065 Reciprocal Exchanges 299,242 2,142 (2,102 ) 299,282 Total $ 3,612,002 $ 49,829 $ (26,484 ) $ 3,635,347 December 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury $ 64,829 $ 1,026 $ (262 ) $ 65,593 Federal agencies 37,842 22 (389 ) 37,475 States and political subdivision bonds 274,367 1,369 (3,539 ) 272,197 Foreign government 151,443 993 (70 ) 152,366 Corporate bonds 1,283,061 3,094 (25,450 ) 1,260,705 Residential mortgage-backed securities 944,365 716 (19,965 ) 925,116 Commercial mortgage-backed securities 548,192 3,757 (6,974 ) 544,975 Asset-backed securities 60,563 705 (121 ) 61,147 Structured securities 249,947 99 (8,588 ) 241,458 Total $ 3,614,609 $ 11,781 $ (65,358 ) $ 3,561,032 NGHC $ 3,311,639 $ 11,206 $ (58,896 ) $ 3,263,949 Reciprocal Exchanges 302,970 575 (6,462 ) 297,083 Total $ 3,614,609 $ 11,781 $ (65,358 ) $ 3,561,032 As of March 31, 2019 and December 31, 2018 , the Company had no other-than-temporary impairments (“OTTI”) in AOCI related to available-for-sale debt securities. The amortized cost and fair value of available-for-sale debt securities held as of March 31, 2019 , by contractual maturity, are shown in the table below. Actual maturities may differ from contractual maturities because some borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. NGHC Reciprocal Exchanges Total March 31, 2019 Amortized Fair Amortized Fair Amortized Fair Due in one year or less $ 30,231 $ 30,138 $ 300 $ 300 $ 30,531 $ 30,438 Due after one year through five years 803,464 811,067 157,364 156,838 960,828 967,905 Due after five years through ten years 775,802 788,585 44,621 45,048 820,423 833,633 Due after ten years 242,711 241,384 11,751 11,819 254,462 253,203 Mortgage-backed securities 1,460,552 1,464,891 85,206 85,277 1,545,758 1,550,168 Total $ 3,312,760 $ 3,336,065 $ 299,242 $ 299,282 $ 3,612,002 $ 3,635,347 (b) Gross Unrealized Losses The tables below summarize the gross unrealized losses on debt securities classified as available for sale, by length of time the security has continuously been in an unrealized loss position. Less Than 12 Months 12 Months or More Total March 31, 2019 Fair Unrealized Fair Unrealized Fair Unrealized U.S. Treasury $ 17,811 $ (5 ) $ 19,397 $ (174 ) $ 37,208 $ (179 ) Federal agencies 4,897 (3 ) 719 (14 ) 5,616 (17 ) States and political subdivision bonds 9,247 (32 ) 73,312 (491 ) 82,559 (523 ) Foreign government 500 — — — 500 — Corporate bonds 50,725 (196 ) 368,397 (6,091 ) 419,122 (6,287 ) Residential mortgage-backed securities 91,162 (1,655 ) 485,077 (8,182 ) 576,239 (9,837 ) Commercial mortgage-backed securities — — 151,359 (4,766 ) 151,359 (4,766 ) Asset-backed securities 340 — 1,752 (53 ) 2,092 (53 ) Structured securities 165,574 (3,796 ) 21,169 (1,026 ) 186,743 (4,822 ) Total $ 340,256 $ (5,687 ) $ 1,121,182 $ (20,797 ) $ 1,461,438 $ (26,484 ) NGHC $ 315,312 $ (5,452 ) $ 965,236 $ (18,930 ) $ 1,280,548 $ (24,382 ) Reciprocal Exchanges 24,944 (235 ) 155,946 (1,867 ) 180,890 (2,102 ) Total $ 340,256 $ (5,687 ) $ 1,121,182 $ (20,797 ) $ 1,461,438 $ (26,484 ) Less Than 12 Months 12 Months or More Total December 31, 2018 Fair Unrealized Fair Unrealized Fair Unrealized U.S. Treasury $ 474 $ (2 ) $ 21,540 $ (260 ) $ 22,014 $ (262 ) Federal agencies 23,729 (351 ) 1,493 (38 ) 25,222 (389 ) States and political subdivision bonds 57,090 (902 ) 119,759 (2,637 ) 176,849 (3,539 ) Foreign government 45,748 (70 ) — — 45,748 (70 ) Corporate bonds 586,359 (12,891 ) 321,115 (12,559 ) 907,474 (25,450 ) Residential mortgage-backed securities 234,396 (1,637 ) 551,623 (18,328 ) 786,019 (19,965 ) Commercial mortgage-backed securities 13,229 (239 ) 148,700 (6,735 ) 161,929 (6,974 ) Asset-backed securities 25,978 (78 ) 1,494 (43 ) 27,472 (121 ) Structured securities 222,154 (8,136 ) 6,167 (452 ) 228,321 (8,588 ) Total $ 1,209,157 $ (24,306 ) $ 1,171,891 $ (41,052 ) $ 2,381,048 $ (65,358 ) NGHC $ 1,115,823 $ (22,668 ) $ 1,018,975 $ (36,228 ) $ 2,134,798 $ (58,896 ) Reciprocal Exchanges 93,334 (1,638 ) 152,916 (4,824 ) 246,250 (6,462 ) Total $ 1,209,157 $ (24,306 ) $ 1,171,891 $ (41,052 ) $ 2,381,048 $ (65,358 ) There were 857 and 1,662 individual security lots at March 31, 2019 and December 31, 2018 , respectively, that accounted for the gross unrealized loss, none of which are deemed by the Company to be other-than-temporary impairments. As of March 31, 2019 and December 31, 2018 , of the $20,797 and $41,052 , respectively, of unrealized losses in unrealized loss positions for a period of twelve or more consecutive months, none of those securities were greater than or equal to 25% of its amortized cost. Factors influencing management’s determination that none of these securities were OTTI included the length of time and/or magnitude of unrealized losses in relation to cost, the nature of the investment, the current financial condition of the issuer and its future prospects, the ability to recover to cost in the near term, and management’s intent not to sell these securities and it being more likely than not that the Company will not be required to sell these investments before anticipated recovery of fair value to the Company’s cost basis. The Company regularly monitors its investments that have fair values less than cost or amortized cost for indicators of OTTI, an assessment that requires management judgment regarding the evidence known. Such judgments could change in the future as more information becomes known, which could negatively impact the amounts reported. The Company’s debt securities portfolio is sensitive to interest rate fluctuations, which impact the fair value of individual securities. Unrealized losses on debt securities reported above were primarily caused by the effects of the interest rate environment. Therefore, the Company does not believe the unrealized losses represent an OTTI as of March 31, 2019 and December 31, 2018 . (c) Equity Securities The fair values of equity securities were as follows: March 31, 2019 December 31, 2018 Common stock $ 10,285 $ 10,949 Total $ 10,285 $ 10,949 NGHC $ 10,285 $ 10,949 Reciprocal Exchanges — — Total $ 10,285 $ 10,949 (d) Investment Income The components of net investment income consisted of the following: Three Months Ended March 31, 2019 2018 Cash and short-term investments $ 1,497 $ 187 Debt securities 29,467 24,256 Equity securities 2 155 Other, net (related parties - $254 and $(295)) 3,506 1,821 Investment income 34,472 26,419 Investment expenses (1,027 ) (1,408 ) Net investment income $ 33,445 $ 25,011 NGHC $ 31,275 $ 22,867 Reciprocal Exchanges 2,170 2,144 Net investment income $ 33,445 $ 25,011 (e) Net Realized Gains (Losses) The table below indicates realized gains and losses on investments, including foreign exchange. Purchases and sales of investments are recorded on a trade date basis. Realized gains and losses are determined based on the specific identification method. Three Months Ended March 31, 2019 2018 Debt securities, available-for-sale: Gross gains $ 136 $ 1,169 Gross losses (256 ) (1,171 ) Net realized gain (loss) on debt securities, available-for-sale (120 ) (2 ) Equity securities 1,036 (1,048 ) Short-term and other investments (1 ) (4 ) Foreign currency transactions (893 ) 1,172 Net realized gain on investments $ 22 $ 118 NGHC $ 766 $ 249 Reciprocal Exchanges (744 ) (131 ) Net realized gain on investments $ 22 $ 118 Net gains and losses recognized during the reporting period on equity securities still held at the reporting date were as follows: Three Months Ended March 31, 2019 2018 Net gains (losses) recognized during the period $ 1,036 $ (1,048 ) Less: Net gains (losses) recognized during the period on securities sold during the period — — Net gains (losses) recognized during the reporting period on securities still held at the reporting date $ 1,036 $ (1,048 ) (f) Credit Quality of Investments The tables below summarize the credit quality of debt securities, as rated by Standard & Poor’s (“S&P”). If a security is not rated by S&P, an S&P equivalent is determined based on ratings from similar rating agencies. Securities that are not rated are included in the “BB+ and lower” category. NGHC Reciprocal Exchanges March 31, 2019 Amortized Cost Fair Value Percentage Amortized Cost Fair Value Percentage U.S. Treasury $ 48,823 $ 49,736 1.5 % $ 12,991 $ 13,247 4.4 % AAA 574,775 589,125 17.7 % 18,283 18,408 6.2 % AA, AA+, AA- 1,368,935 1,363,545 40.9 % 129,590 129,337 43.2 % A, A+, A- 615,601 621,717 18.6 % 127,511 127,668 42.7 % BBB, BBB+, BBB- 664,992 673,198 20.2 % 10,835 10,590 3.5 % BB+ and lower 39,634 38,744 1.1 % 32 32 — % Total $ 3,312,760 $ 3,336,065 100.0 % $ 299,242 $ 299,282 100.0 % NGHC Reciprocal Exchanges December 31, 2018 Amortized Fair Percentage Amortized Fair Percentage U.S. Treasury $ 52,122 $ 52,759 1.6 % $ 12,707 $ 12,834 4.3 % AAA 586,639 589,078 18.0 % 18,335 18,109 6.1 % AA, AA+, AA- 1,385,709 1,358,528 41.6 % 142,525 140,114 47.2 % A, A+, A- 591,219 581,106 17.8 % 118,535 115,618 38.9 % BBB, BBB+, BBB- 653,645 641,554 19.7 % 10,834 10,374 3.5 % BB+ and lower 42,305 40,924 1.3 % 34 34 — % Total $ 3,311,639 $ 3,263,949 100.0 % $ 302,970 $ 297,083 100.0 % The tables below summarize the investment quality of the corporate bond holdings and industry concentrations. March 31, 2019 AAA AA+, A+,A,A- BBB+, BB+ or Fair % of Financial Institutions — % 4.4 % 24.1 % 14.5 % 0.7 % $ 589,699 43.7 % Industrials 0.4 % 5.5 % 21.3 % 26.5 % 0.6 % 733,355 54.3 % Utilities/Other — % — % 1.6 % 0.4 % — % 26,496 2.0 % Total 0.4 % 9.9 % 47.0 % 41.4 % 1.3 % $ 1,349,550 100.0 % NGHC — % 6.7 % 37.6 % 40.6 % 1.3 % $ 1,163,549 86.2 % Reciprocal Exchanges 0.4 % 3.2 % 9.4 % 0.8 % — % 186,001 13.8 % Total 0.4 % 9.9 % 47.0 % 41.4 % 1.3 % $ 1,349,550 100.0 % December 31, 2018 AAA AA+, A+,A,A- BBB+, BB+ or Fair % of Financial Institutions — % 4.3 % 23.1 % 14.2 % 0.9 % $ 535,373 42.5 % Industrials 0.4 % 6.1 % 21.5 % 26.7 % 0.6 % 697,324 55.3 % Utilities/Other — % — % 1.8 % 0.4 % — % 28,008 2.2 % Total 0.4 % 10.4 % 46.4 % 41.3 % 1.5 % $ 1,260,705 100.0 % NGHC — % 6.3 % 37.3 % 40.6 % 1.4 % $ 1,079,099 85.6 % Reciprocal Exchanges 0.4 % 4.1 % 9.1 % 0.7 % 0.1 % 181,606 14.4 % Total 0.4 % 10.4 % 46.4 % 41.3 % 1.5 % $ 1,260,705 100.0 % (g) Cash and Cash Equivalents, Restricted Cash and Restricted Investments The Company, in order to conduct business in certain states, is required to maintain letters of credit or assets on deposit to support state mandated regulatory requirements and certain third party agreements. The Company also utilizes trust accounts to collateralize business with its reinsurance counterparties. These assets are held primarily in the form of cash or certain high grade securities. Cash, cash equivalents, and restricted cash are as follows: March 31, 2019 December 31, 2018 Cash and cash equivalents $ 188,064 $ 193,858 Restricted cash and cash equivalents 32,208 39,725 Total cash, cash equivalents and restricted cash $ 220,272 $ 233,583 Restricted investments are as follows: March 31, 2019 December 31, 2018 Securities on deposit with state regulatory authorities $ 76,215 $ 73,119 Restricted investments to trusts in certain reinsurance transactions 66,894 70,470 Total restricted investments $ 143,109 $ 143,589 (h) Short-term and Other Investments Short-term investments include investments with maturities between 91 days and less than one year at the date of acquisition. Short-term investments also consist of commercial paper, U.S. Treasury bills and money market funds that are held within the Company’s longer term investment portfolios. The table below summarizes the composition of other investments: March 31, 2019 December 31, 2018 Equity method investments (related parties - $105,097 and $106,031) $ 142,707 $ 142,921 Notes receivable (related parties - $128,458 and $127,692) 129,474 128,893 Long-term Certificates of Deposit (CDs), at cost 20,151 20,252 Investments, at fair value 5,971 6,542 Investments, at cost or amortized cost 7,668 7,668 Total $ 305,971 $ 306,276 Equity method investments represent limited liability companies and limited partnership investments in real estate. Investments at fair value, primarily represent the Company’s right to receive the excess servicing spread related to servicing rights, for which the Company has elected the fair value option with changes in fair value recorded in earnings. Investments at cost or amortized cost, represent limited partnerships, loans and trusts. The Company believes its exposure to risk associated with these investments is generally limited to the investment carrying amounts. The Company’s other investments are assessed for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment might not be recoverable. For both the three months ended March 31, 2019 and 2018 , the Company did not record OTTI on other investments. Equity Method Investments - Related Parties The significant shareholder of the Company has an ownership interest in AmTrust Financial Services, Inc. (“AmTrust”) and ACP Re Ltd. (“ACP Re”). Limited Liability Companies and Limited Partnerships The following entities are considered by the Company to be VIEs, for which the Company is not the primary beneficiary. The Company accounts for these entities using the equity method of accounting. The Company believes its exposure to risk associated with these investments is generally limited to the investment carrying amounts. LSC Entity The Company has a 50% ownership interest in an entity (the “LSC Entity”) initially formed to acquire life settlement contracts, with AmTrust owning the remaining 50% . The LSC Entity used the contributed capital to pay premiums and purchase policies. A life settlement contract is a contract between the owner of a life insurance policy and a third party who obtains the ownership and beneficiary rights of the underlying life insurance policy. The LSC Entity has a 30% non-controlling equity interest in a limited partnership. As of March 31, 2019 , the LSC Entity directly held one life settlement contract. The life settlement contract is accounted for using the fair value method. The following table presents the Company’s 50% investment activity in the LSC Entity: Three Months Ended March 31, 2019 2018 Beginning of the period $ 48,324 $ 160,683 Distributions — (107,035 ) Contributions — 2,000 Equity in earnings (losses) 586 700 Change in equity method investments 586 (104,335 ) End of the period $ 48,910 $ 56,348 800 Superior, LLC The Company holds an investment in 800 Superior, LLC, a limited liability company that owns an office building in Cleveland, Ohio, with AmTrust. AmTrust has been appointed managing member of 800 Superior, LLC. The Company and AmTrust each have a 50% ownership interest in 800 Superior, LLC. Additionally, the Company entered into an office lease with 800 Superior, LLC. The Company paid 800 Superior, LLC $742 and $722 in rent for the three months ended March 31, 2019 and 2018 , respectively. The Company’s equity interest in 800 Superior, LLC as of March 31, 2019 and December 31, 2018 was $510 and $816 , respectively. For the three months ended March 31, 2019 and 2018 , the Company recorded equity in earnings (losses) from 800 Superior, LLC of $(306) and $(1,070) , respectively. East Ninth & Superior, LLC The Company holds an investment in East Ninth & Superior, LLC and 800 Superior NMTC Investment Fund II, LLC with AmTrust (collectively “East Ninth & Superior”). The Company and AmTrust each have a 50% ownership interest in East Ninth and Superior, LLC and a 24.5% ownership interest in 800 Superior NMTC Investment Fund II, LLC. The Company’s equity interest in East Ninth & Superior as of March 31, 2019 and December 31, 2018 was $4,322 and $4,309 , respectively. For the three months ended March 31, 2019 and 2018 , the Company recorded equity in earnings (losses) from East Ninth & Superior of $13 and $16 , respectively. North Dearborn Building Company, L.P. The Company holds an investment in North Dearborn Building Company, L.P. (“North Dearborn”), a limited partnership that owns an office building in Chicago, Illinois. AmTrust is also a limited partner in North Dearborn, and the general partner is NA Advisors GP LLC (“NA Advisors”), a related party, owned by Karfunkel family members which is managed by an unrelated third party. The Company and AmTrust each hold a 45% limited partnership interest in North Dearborn, while NA Advisors holds a 10% general partnership interest and a 10% profit interest, which NA Advisors pays to the unrelated third party manager. North Dearborn appointed NA Advisors as the general manager to oversee the day-to-day operations of the office building. The Company’s equity interest in North Dearborn as of March 31, 2019 and December 31, 2018 was $6,186 and $6,214 , respectively. For the three months ended March 31, 2019 and 2018 , the Company recorded equity in earnings (losses) from North Dearborn of $(28) and $(9) , respectively. 4455 LBJ Freeway, LLC The Company holds an investment in 4455 LBJ Freeway, LLC, a limited liability company that owns an office building in Dallas, Texas, with AmTrust. AmTrust has been appointed managing member of 4455 LBJ Freeway, LLC. The Company and AmTrust each have a 50% ownership interest in 4455 LBJ Freeway, LLC. Additionally, the Company entered into a lease agreement with 4455 LBJ Freeway, LLC. The Company paid 4455 LBJ Freeway, LLC $555 and $574 in rent for the three months ended March 31, 2019 and 2018 , respectively. The Company’s equity interest in 4455 LBJ Freeway, LLC as of March 31, 2019 and December 31, 2018 was $816 and $793 , respectively. For the three months ended March 31, 2019 and 2018 , the Company recorded equity in earnings (losses) from 4455 LBJ Freeway, LLC of $23 and $2 , respectively. Illinois Center Building, L.P. The Company holds an investment in Illinois Center Building, L.P. (“Illinois Center”), a limited partnership that owns an office building in Chicago, Illinois. AmTrust and ACP Re are also limited partners in Illinois Center and the general partner is NA Advisors. The Company and AmTrust each hold a 37.5% limited partnership interest in Illinois Center, while ACP Re holds a 15.0% limited partnership interest. NA Advisors holds a 10.0% general partnership interest and a 10.0% profit interest, which NA Advisors pays to the unrelated third party manager. Illinois Center appointed NA Advisors as the general manager to oversee the day-to-day operations of the office building. The Company’s equity interest in Illinois Center as of March 31, 2019 and December 31, 2018 was $44,353 and $45,575 , respectively. For the three months ended March 31, 2019 and 2018 , the Company recorded equity in earnings (losses) from Illinois Center of $(1,222) and $(1,109)

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company carries certain financial instruments at fair value. Assets and liabilities recorded at fair value in the Condensed Consolidated Balance Sheets are measured and classified in accordance with a fair value hierarchy consisting of three “levels” based on the observability of valuation inputs: Level 1 - Inputs are quoted prices in active markets for identical assets or liabilities as of the measurement date. Additionally, the entity must have the ability to access the active market and the quoted prices cannot be adjusted by the entity. Level 2 - Inputs are other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices in active markets for similar assets or liabilities; quoted prices in inactive markets for identical or similar assets or liabilities; or inputs that are observable or can be corroborated by observable market data by correlation or other means for substantially the full term of the assets or liabilities. Level 3 - Unobservable inputs are supported by little or no market activity. The unobservable inputs represent management’s best assumptions of how market participants would price the assets or liabilities. Generally, Level 3 assets and liabilities are valued using pricing models, discounted cash flow methodologies, or similar techniques that require significant judgment or estimation. The following describes the valuation techniques used by the Company to determine the fair value measurements on a recurring basis of financial instruments held as of March 31, 2019 and December 31, 2018 . The Company utilizes a pricing service (“pricing service”) to estimate fair value measurements for all its debt and equity securities. Level 1 measurements: • U.S. Treasury and federal agencies. The fair values of U.S. government securities are based on quoted market prices in active markets. The Company believes the market for U.S. government securities is an actively traded market given the high level of daily trading volume. • Common stock. The pricing service utilizes market quotations for equity securities that have quoted market prices in active markets and their respective quoted prices are provided at fair value. • Short-term investments. Comprised of money market funds that are traded in active markets and fair values are based on quoted market prices. Level 2 measurements: • States and political subdivision bonds, and foreign government. The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active. • Corporate bonds. Comprised of bonds issued by corporations, public and privately placed. The fair values of short-term corporate bonds are priced using the spread above the London Interbank Offering Rate (“LIBOR”) yield curve, and the fair value of long-term corporate bonds are priced using the spread above the risk-free yield curve. The spreads are sourced from broker dealers, trade prices and the new issue market. Where pricing is unavailable from pricing services, the Company obtains non-binding quotes from broker-dealers. The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active. • Residential and commercial mortgage-backed securities, asset-backed securities and structured securities. The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields, prepayment speeds, collateral performance and credit spreads. Level 3 measurements: • States and political subdivision bonds. The Company holds certain municipal bonds that finance economic development, infrastructure and environmental projects which do not have an active market. These bonds are valued based on non-binding broker quotes where the inputs have not been corroborated to be market observable. • Corporate bonds. The Company holds certain structured notes and term loans that do not have an active market. These bonds are valued based on non-binding broker quotes where the inputs have not been corroborated to be market observable. • Common stock and preferred stock. From time to time, the Company also holds certain equity securities that are issued by privately-held entities or direct equity investments that do not have an active market. The Company estimates the fair value of these securities primarily based on inputs such as third-party broker quotes, issuers’ book value, market multiples, and other inputs. These bonds are valued based on non-binding broker quotes where the inputs have not been corroborated to be market observable. • Other investments, at fair value. Comprised of the Company’s right to receive the Excess Servicing Spread (“ESS”) related to servicing rights. The Company uses a discounted cash flow method to estimate their fair value. The key inputs used in the estimation of ESS include prepayment speed and discount rate. Changes in the fair value of the ESS are recorded in earnings. Assets measured at fair value on a recurring basis are as follows: March 31, 2019 Level 1 Level 2 Level 3 Total Available-for-sale debt securities: U.S. Treasury $ 62,983 $ — $ — $ 62,983 Federal agencies 25,616 — — 25,616 States and political subdivision bonds — 257,243 3,660 260,903 Foreign government — 145,218 — 145,218 Corporate bonds — 1,337,716 11,834 1,349,550 Residential mortgage-backed securities — 931,010 — 931,010 Commercial mortgage-backed securities — 557,072 — 557,072 Asset-backed securities — 62,086 — 62,086 Structured securities — 240,909 — 240,909 Total available-for-sale debt securities 88,599 3,531,254 15,494 3,635,347 Equity securities: Common stock 9,068 — 1,217 10,285 Total equity securities 9,068 — 1,217 10,285 Short-term investments 390,052 — — 390,052 Other investments — — 5,971 5,971 Total $ 487,719 $ 3,531,254 $ 22,682 $ 4,041,655 NGHC $ 454,840 $ 3,245,219 $ 22,682 $ 3,722,741 Reciprocal Exchanges 32,879 286,035 — 318,914 Total $ 487,719 $ 3,531,254 $ 22,682 $ 4,041,655 December 31, 2018 Level 1 Level 2 Level 3 Total Available-for-sale debt securities: U.S. Treasury $ 65,593 $ — $ — $ 65,593 Federal agencies 37,475 — — 37,475 States and political subdivision bonds — 268,601 3,596 272,197 Foreign government — 152,366 — 152,366 Corporate bonds — 1,248,938 11,767 1,260,705 Residential mortgage-backed securities — 925,116 — 925,116 Commercial mortgage-backed securities — 544,975 — 544,975 Asset-backed securities — 61,147 — 61,147 Structured securities — 241,458 — 241,458 Total available-for-sale debt securities 103,068 3,442,601 15,363 3,561,032 Equity securities: Common stock 9,898 — 1,051 10,949 Total equity securities 9,898 — 1,051 10,949 Short-term investments 348,549 — — 348,549 Other investments — — 6,542 6,542 Total $ 461,515 $ 3,442,601 $ 22,956 $ 3,927,072 NGHC $ 429,502 $ 3,160,203 $ 22,956 $ 3,612,661 Reciprocal Exchanges 32,013 282,398 — 314,411 Total $ 461,515 $ 3,442,601 $ 22,956 $ 3,927,072 The following tables provide a reconciliation of recurring fair value measurements of the Level 3 financial assets: States and Corporate Common Other Total Balance as of January 1, 2019 $ 3,596 $ 11,767 $ 1,051 $ 6,542 $ 22,956 Transfers into Level 3 — — — — — Transfers out of Level 3 — — — — — Total gains (losses) for the period: Included in net income (1) — — 166 (571 ) (405 ) Included in other comprehensive income (2) 64 67 — — 131 Purchases — — — — — Sales — — — — — Balance as of March 31, 2019 $ 3,660 $ 11,834 $ 1,217 $ 5,971 $ 22,682 Change in unrealized gains (losses) for the period included in net income for assets held at the end of the reporting period $ — $ — $ 166 $ (571 ) $ (405 ) Change in unrealized gains (losses) for the period included in other comprehensive income for assets held at the end of the reporting period $ 64 $ 67 $ — $ — $ 131 States and Corporate Common Preferred Other Total Balance as of January 1, 2018 $ 4,081 $ 24,545 $ 5,052 $ 270 $ 10,782 $ 44,730 Transfers into Level 3 — — — — — — Transfers out of Level 3 — — — — — — Total gains (losses) for the period: Included in net income (1) — — (1,186 ) 12 794 (380 ) Included in other comprehensive income (2) 46 (32 ) — — — 14 Purchases — — — — — — Sales — — — — (526 ) (526 ) Balance as of March 31, 2018 $ 4,127 $ 24,513 $ 3,866 $ 282 $ 11,050 $ 43,838 Change in unrealized gains (losses) for the period included in net income for assets held at the end of the reporting period $ — $ — $ (1,186 ) $ 12 $ 794 $ (380 ) (1) Gains and losses recognized in net income are reported within Net investment income. (2) Gains and losses recognized in other comprehensive income are reported within unrealized gains (losses) on investments, net of tax. During the three months ended March 31, 2019 and 2018 , there were no transfers between Level 2 and Level 3. At March 31, 2019 and December 31, 2018 , the carrying values of the Company’s cash and cash equivalents, premiums and other receivables, and accounts payable approximate the fair value given their short-term nature and were classified as Level 1. Fair value information about financial instruments not measured at fair value Debt - The amount reported in the accompanying Condensed Consolidated Balance Sheets for these financial instruments represents the carrying value of the debt. See Note 8 , “ Debt ” for additional information. The following table presents the carrying amount and estimated fair value of debt not carried at fair value, excluding capital lease liabilities, as well as the input level used to determine the fair value are indicated below: March 31, 2019 December 31, 2018 Input Level Carrying amount Fair value Carrying amount Fair value 7.625% Notes Level 2 $ 96,863 $ 102,000 $ 96,842 $ 90,400 6.75% Notes Level 3 346,600 357,879 346,439 353,756 Subordinated Debentures Level 3 72,168 72,114 72,168 72,109 Credit Agreement Level 3 — — 160,000 163,222 2019 Credit Agreement Level 3 160,000 168,964 — —

Deferred Acquisition Costs

Deferred Acquisition Costs	3 Months Ended
	Mar. 31, 2019
Deferred Acquisition Costs [Abstract]
Deferred Policy Acquisition Costs	Deferred Acquisition Costs The following table reflects the amounts of policy acquisition costs deferred and amortized: Three Months Ended March 31, 2019 2018 Property Accident Total Property Accident Total Beginning of the period $ 226,188 $ 25,220 $ 251,408 $ 198,283 $ 18,106 $ 216,389 Additions 145,979 25,101 171,080 139,132 5,940 145,072 Amortization (136,008 ) (18,303 ) (154,311 ) (120,332 ) (7,529 ) (127,861 ) Change in DAC 9,971 6,798 16,769 18,800 (1,589 ) 17,211 End of the period $ 236,159 $ 32,018 $ 268,177 $ 217,083 $ 16,517 $ 233,600 NGHC $ 215,854 $ 32,018 $ 247,872 $ 195,448 $ 16,517 $ 211,965 Reciprocal Exchanges 20,305 — 20,305 21,635 — 21,635 End of the period $ 236,159 $ 32,018 $ 268,177 $ 217,083 $ 16,517 $ 233,600

Unpaid Losses and Loss Adjustme

Unpaid Losses and Loss Adjustment Expense Reserves	3 Months Ended
	Mar. 31, 2019
Insurance [Abstract]
Unpaid Losses and Loss Adjustment Expenses	Unpaid Losses and Loss Adjustment Expense Reserves The unpaid losses and loss adjustment expense (“LAE”) reserves are the result of ongoing analysis of recent loss development trends and emerging historical experience. Original estimates are increased or decreased as additional information becomes known regarding individual claims. In setting its reserves, the Company reviews its loss data to estimate expected loss development. Management believes that its use of standard actuarial methodology applied to its analyses of its historical experience provides a reasonable estimate of future losses. However, actual future losses may differ from the Company’s estimate, and future events beyond the control of management, such as changes in law, judicial interpretations of law and inflation, may favorably or unfavorably impact the ultimate settlement of the Company’s losses and LAE. The anticipated effect of inflation is implicitly considered when estimating liabilities for losses and LAE. In addition to inflation, the average severity of claims is affected by a number of factors that may vary by types and features of policies written. Future average severities are projected from historical trends, adjusted for implemented changes in underwriting standards and policy provisions, and general economic trends. These estimated trends are monitored and revised as necessary based on actual development. The tables below show the roll forward of loss reserves on a gross and net of reinsurance basis, reflecting changes in losses incurred and paid losses: Three Months Ended March 31, 2019 Property Accident NGHC Reciprocal Total Unpaid losses and LAE, gross of related reinsurance recoverable at beginning of the period $ 2,507,409 $ 271,280 $ 2,778,689 $ 178,470 $ 2,957,159 Less: Reinsurance recoverable at beginning of the period (1,182,588 ) (24,575 ) (1,207,163 ) (77,979 ) (1,285,142 ) Net balance at beginning of the period 1,324,821 246,705 1,571,526 100,491 1,672,017 Incurred losses and LAE related to: Current year 530,549 95,601 626,150 39,973 666,123 Prior year (5,514 ) (10,852 ) (16,366 ) 2,052 (14,314 ) Total incurred 525,035 84,749 609,784 42,025 651,809 Paid losses and LAE related to: Current year (130,395 ) (33,681 ) (164,076 ) (14,949 ) (179,025 ) Prior year (422,560 ) (53,310 ) (475,870 ) (21,478 ) (497,348 ) Total paid (552,955 ) (86,991 ) (639,946 ) (36,427 ) (676,373 ) Effect of foreign exchange rates — 1,094 1,094 — 1,094 Net balance at end of the period 1,296,901 245,557 1,542,458 106,089 1,648,547 Plus: Reinsurance recoverable at end of the period 1,103,114 28,729 1,131,843 89,933 1,221,776 Gross balance at end of period $ 2,400,015 $ 274,286 $ 2,674,301 $ 196,022 $ 2,870,323 Three Months Ended March 31, 2018 Property Accident NGHC Reciprocal Total Unpaid losses and LAE, gross of related reinsurance recoverable at beginning of the period $ 2,270,551 $ 249,653 $ 2,520,204 $ 143,353 $ 2,663,557 Less: Reinsurance recoverable at beginning of the period (1,067,495 ) (9,840 ) (1,077,335 ) (52,408 ) (1,129,743 ) Net balance at beginning of the period 1,203,056 239,813 1,442,869 90,945 1,533,814 Incurred losses and LAE related to: Current year 513,526 94,661 608,187 45,917 654,104 Prior year (15,169 ) (3,383 ) (18,552 ) (1,386 ) (19,938 ) Total incurred 498,357 91,278 589,635 44,531 634,166 Paid losses and LAE related to: Current year (202,967 ) (20,290 ) (223,257 ) (19,686 ) (242,943 ) Prior year (306,126 ) (47,992 ) (354,118 ) (17,455 ) (371,573 ) Total paid (509,093 ) (68,282 ) (577,375 ) (37,141 ) (614,516 ) Effect of foreign exchange rates — (1,679 ) (1,679 ) — (1,679 ) Net balance at end of the period 1,192,320 261,130 1,453,450 98,335 1,551,785 Plus: Reinsurance recoverable at end of the period 1,058,106 8,565 1,066,671 60,461 1,127,132 Gross balance at end of period $ 2,250,426 $ 269,695 $ 2,520,121 $ 158,796 $ 2,678,917 Prior year loss development, net of reinsurance Prior year development is based upon numerous estimates by line of business and accident year. No additional premiums or return premiums have been accrued as a result of the prior year effects. 2019 . Loss and LAE for the three months ended March 31, 2019 included $14,314 of favorable development on prior accident year loss and LAE reserves. The $3,462 of favorable development in the property and casualty segment (including $2,052 of unfavorable development for the Reciprocal Exchanges) was driven by the Company’s homeowners business, while the $10,852 of favorable development in the accident and health segment was primarily driven by the Company’s domestic products, specifically the Stop Loss business. 2018 . Loss and LAE for the three months ended March 31, 2018 included $19,938 of favorable development on prior accident year loss and LAE reserves. The $16,555 of favorable development in the property and casualty segment (including $1,386 of favorable development for the Reciprocal Exchanges) was primarily driven by favorable development in the Company’s auto physical damage and homeowners business, while $3,383 of favorable

Reinsurance

Reinsurance	3 Months Ended
	Mar. 31, 2019
Insurance [Abstract]
Reinsurance	Reinsurance The Company utilizes reinsurance agreements to transfer portions of the underlying risk of the business the Company writes to various reinsurance companies. Reinsurance does not discharge or diminish the Company’s obligation to pay claims covered by the insurance policies it issues; however, it does permit the Company to recover certain incurred losses from its reinsurers and the Company’s reinsurance recoveries reduce the maximum loss that it may incur as a result of a covered loss event. The Company’s reinsurers generally carry at least an A.M. Best Company, Inc. rating of “A-” (Excellent) or are fully collateralized at the time they enter into the Company’s reinsurance agreements. The Company also enters into reinsurance relationships with third-party captives formed by agents as a mechanism for sharing risk and profit. The total amount, cost and limits relating to the reinsurance coverage the Company purchases may vary from year to year based upon a variety of factors, including the availability of quality reinsurance at an acceptable price and the level of risk that the Company chooses to retain for its own account. The Company assumes and cedes insurance risks under various reinsurance agreements, on both a pro rata basis and excess of loss basis. The Company purchases reinsurance to mitigate the volatility of direct and assumed business, which may be caused by the aggregate value or the concentration of written exposures in a particular geographic area or business segment and may arise from catastrophes or other events. The Company pays a premium as consideration for ceding the risk. Reinsurance recoverable summary is as follows: March 31, 2019 December 31, 2018 Reinsurance recoverable on paid losses $ 267,789 $ 326,596 Reinsurance recoverable on unpaid losses 1,221,776 1,285,142 Reinsurance recoverable $ 1,489,565 $ 1,611,738 The following is the effect of reinsurance on unpaid loss and LAE reserves and unearned premiums: March 31, 2019 December 31, 2018 Assumed Ceded Assumed Ceded Unpaid Loss and LAE reserves $ 76,123 $ 1,221,776 $ 84,469 $ 1,285,142 Unearned premiums 20,604 637,024 21,015 665,674 The following is a summary of effects of reinsurance on premiums and losses: Three Months Ended March 31, 2019 2018 Premium: Written Earned Written Earned Direct $ 1,489,188 $ 1,315,705 $ 1,413,877 $ 1,191,327 Assumed 20,590 21,000 19,253 29,051 Total Gross Premium 1,509,778 1,336,705 1,433,130 1,220,378 Ceded (345,114 ) (372,548 ) (326,487 ) (314,840 ) Net Premium $ 1,164,664 $ 964,157 $ 1,106,643 $ 905,538 Three Months Ended March 31, 2019 2018 Assumed Ceded Assumed Ceded Loss and LAE $ 5,322 $ 209,322 $ (1,321 ) $ 197,317 Quota Share Agreements Effective July 1, 2017 , the Company entered into an Auto Quota Share Agreement (the “Auto Quota Share Agreement”) covering the Company’s auto lines of business, under which the Company cedes 15.0% of net liability under auto policies in force as of the effective date and new and renewal policies issued during the two -year term of the agreement to an unaffiliated third-party reinsurance provider. Under the Auto Quota Share Agreement, the Company receives a 31.2% provisional ceding commission on premiums ceded to the reinsurer during the term of the Auto Quota Share Agreement, subject to a sliding scale adjustment to a maximum of 32.8% if the loss ratio for the reinsured business is 63.4% or less and a minimum of 29.6% if the loss ratio is 66.6% or higher. The liability of the reinsurer is capped at $5,000 per risk or $70,000 per event. The Company retains the flexibility, under certain conditions, to increase the cession percentage up to a maximum cession of 30.0% and to decrease the cession percentage to a minimum cession of 5.0% during 2019. Effective January 1, 2019, the Company cedes 7.0% of net liability under new and renewal auto policies written. Effective July 1, 2017 , the Company entered into a Homeowners Quota Share Agreement (the “HO Quota Share Agreement”) covering the Company’s homeowners line of business, under which the Company cedes 29.6% of net liability under homeowners policies, including lender-placed property policies, in force as of the effective date and new and renewal policies issued during the two -year term of the agreement to unaffiliated third-party reinsurance providers. Under the HO Quota Share Agreement, the Company receives a 42.5% ceding commission on premiums ceded to the reinsurers during the term of the HO Quota Share Agreement. The liability of the reinsurers is capped at $5,000 per risk or $70,000 per event. Effective May 1, 2018 , the Company cedes an additional 12.4% of net liability (for a total cession of 42.0% ) and receives a 38.0% ceding commission on the additional 12.4% in ceded premiums. Catastrophe Reinsurance As of May 1, 2018 , the Company’s reinsurance property catastrophe excess of loss program, protecting the Company against catastrophic events and other large losses, provides a total of $575,000 in coverage with a $70,000 retention, with one reinstatement. Effective May 1, 2019 , the Company’s reinsurance property catastrophe excess of loss program, protecting the Company against catastrophic events and other large losses, provides a total of $650,000 in coverage with one reinstatement with a $70,000 retention for the first event and $50,000 for the second event. Effective July 1, 2018 , the casualty program provides $35,000 in coverage in excess of a $5,000 retention. The Company pays a premium as consideration for ceding the risk. As of July 1, 2017 , a reinsurance property catastrophe excess of loss program went into effect protecting the Reciprocal Exchanges against accumulations of losses resulting from a catastrophic event. The property catastrophe program provided a total of $375,000 in coverage with a $20,000 retention, with one reinstatement. Effective July 1, 2018, the Reciprocal Exchanges renewed their property catastrophe excess of loss program providing a total of $475,000 in coverage with a $20,000

Debt

Debt	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Debt	Debt The following table represents the Company’s debt: Interest Rate Maturity March 31, 2019 December 31, 2018 Fixed-rate: 6.75% Notes 6.75% 2024 $ 350,000 $ 350,000 7.625% Notes 7.625% 2055 100,000 100,000 Floating-rate: Subordinated Debentures I LIBOR + 3.40% 2035 41,238 41,238 Subordinated Debentures II LIBOR + 4.25% 2037 30,930 30,930 Credit Agreement (1) LIBOR + 2.00% 2020 — 160,000 2019 Credit Agreement (2) LIBOR + 1.75% 2023 160,000 — Finance lease liabilities Various Various 20,568 14,824 Other 3.5% Various 13,997 15,522 Unamortized debt issuance costs and unamortized discount (6,537 ) (6,719 ) Total carrying amount of debt $ 710,196 $ 705,795 (1) The weighted average interest rate on the amount outstanding as of December 31, 2018 was 4.58% . (2) The weighted average interest rate on the amount outstanding as of March 31, 2019 was 4.27% . The following table presents the Company’s interest expense: Three Months Ended March 31, Interest Payment Frequency 2019 2018 6.75% Notes Semiannually $ 5,906 $ 5,906 7.625% Notes Quarterly 1,906 1,906 Subordinated Debentures Quarterly 1,163 986 Credit Agreement Quarterly 1,211 1,684 2019 Credit Agreement Quarterly 529 — Finance lease liabilities Various 294 164 Other (1) Various 1,990 508 Total interest expense $ 12,999 $ 11,154 (1) Other includes interest for other liabilities, interest credited on funds held balances and accretion of debt issuance costs. Senior Notes The 6.75% Notes are the Company’s general unsecured obligations and rank equally in right of payment with its other existing and future senior unsecured indebtedness and senior in right of payment to any of its indebtedness that is contractually subordinated to the 6.75% Notes. The 6.75% Notes are also effectively subordinated to any of the Company’s existing and future secured indebtedness to the extent of the value of the collateral securing such indebtedness and are structurally subordinated to the existing and future indebtedness of the Company’s subsidiaries (including trade payables). The 6.75% Notes mature on May 15, 2024, unless earlier redeemed or purchased by the Company. The 7.625% Notes are the Company’s subordinated unsecured obligations and rank (i) senior in right of payment to any future junior subordinated debt, (ii) equal in right of payment with any unsecured, subordinated debt that the Company incurs in the future that ranks equally with the 7.625% Notes, and (iii) subordinate in right of payment to any of the Company’s existing and future senior debt, including amounts outstanding under the Company’s revolving credit facility, the Company’s 6.75% notes and certain of the Company’s other obligations. In addition, the 7.625% Notes are structurally subordinated to all existing and future indebtedness, liabilities and other obligations of the Company’s subsidiaries. The 7.625% Notes mature on September 15, 2055, unless earlier redeemed or purchased by the Company. Subordinated Debentures The Company, through a subsidiary, is the issuer of junior subordinated debentures (the “Subordinated Debentures”) relating to an issuance of trust preferred securities. The Subordinated Debentures require interest-only payments to be made on a quarterly basis, with principal due at maturity. The Subordinated Debentures’ principal amounts of $41,238 and $30,930 mature on 2035 and 2037, respectively, and bear interest at an annual rate equal to LIBOR plus 3.40% and LIBOR plus 4.25% , respectively. The Subordinated Debentures are redeemable by the Company at a redemption price equal to 100% of their principal amount. Credit Agreement On February 25, 2019 , the Company refinanced its existing credit agreement and entered into a new credit agreement (the “ 2019 Credit Agreement ”), with JPMorgan Chase Bank, N.A., as Administrative Agent, KeyBank National Association and Fifth Third Bank, as Co-Syndication Agents, and the various lending institutions party thereto. The 2019 Credit Agreement is currently a $340,000 base revolving credit facility with a letter of credit sublimit of $150,000 and an expansion feature of up to $50,000 . Borrowings under the 2019 Credit Agreement bear interest at either the Alternate Base Rate (“ABR”) or the LIBO rate. ABR borrowings under the 2019 Credit Agreement will bear interest at (x) the greatest of (a) the prime rate in effect on such day, (b) the federal funds effective rate on such day plus 0.5 percent or (c) the adjusted LIBO rate for a one-month interest period on such day plus 1 percent . Eurodollar borrowings under the 2019 Credit Agreement will bear interest at the adjusted LIBO rate plus the Eurodollar spread for the interest period in effect. Fees payable by the Company under the 2019 Credit Agreement include a letter of credit participation fee, a letter of credit fronting fee with respect to each letter of credit ( 0.125% ) and a commitment fee on the available commitments of the lenders (a range of 0.175% to 0.25% based on the Company’s consolidated leverage ratio, and which rate was 0.225% as of March 31, 2019 ). The 2019 Credit Agreement has a maturity date of February 25, 2023. Maturities of the Company’s debt for the years subsequent to March 31, 2019 are as follows: 2019 (remaining nine months) 2020 2021 2022 2023 2024 Thereafter Total 6.75% Notes $ — $ — $ — $ — $ — $ 350,000 $ — $ 350,000 7.625% Notes — — — — — — 100,000 100,000 Subordinated Debentures I — — — — — — 41,238 41,238 Subordinated Debentures II — — — — — — 30,930 30,930 2019 Credit Agreement — — — — 160,000 — — 160,000 Finance lease liabilities 4,866 5,585 3,370 1,756 1,192 1,242 2,557 20,568 Other 4,655 6,399 2,943 — — — — 13,997 Total principal amount of debt $ 9,521 $ 11,984 $ 6,313 $ 1,756 $ 161,192 $ 351,242 $ 174,725 $ 716,733 Unamortized debt issuance costs and unamortized discount (6,537 ) Carrying amount of debt $ 710,196 Covenants and Compliance The indenture relating to the 6.75% Notes and 7.625% Notes contains customary covenants, such as reporting of annual and quarterly financial results, and restrictions on certain mergers and consolidations, as well as covenants relating to the incurrence of debt if the Company’s consolidated leverage ratio would exceed 0.35 to 1.00 , a limitation on liens, a limitation on the disposition of stock of certain of the Company’s subsidiaries and a limitation on transactions with certain of the Company’s affiliates. The 2019 Credit Agreement contains certain restrictive covenants customary for facilities of this type (subject to negotiated exceptions and baskets), including restrictions on indebtedness, liens, acquisitions and investments, restricted payments and dispositions. There are also financial covenants that require the Company to maintain a minimum consolidated net worth, a maximum consolidated leverage ratio, a minimum risk-based capital and a minimum rating. The 2019 Credit Agreement also provides for customary events of default, with grace periods where customary, including failure to pay principal when due, failure to pay interest or fees within three business days after becoming due, failure to comply with covenants, breaches of representations and warranties, default under certain other indebtedness, certain insolvency or receivership events affecting the Company and its subsidiaries, the occurrence of certain material judgments, or a change in control of the Company. Upon the occurrence and during the continuation of an event of default, the administrative agent, upon the request of the requisite percentage of the lenders, may terminate the obligations of the lenders to make loans and to issue letters of credit under the 2019 Credit Agreement , declare the Company’s obligations under the 2019 Credit Agreement to become immediately due and payable and/or exercise any and all remedies and other rights under the 2019 Credit Agreement . As of March 31, 2019

Leases

Leases	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Leases	Leases The Company determines if an arrangement is a lease at inception. Operating lease ROU assets and operating leases liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. The Company uses an incremental borrowing rate at commencement date in determining the present value of future payments. The Company has lease agreements with lease and non-lease components, which are generally accounted for separately. The Company elected the package of practical expedients permitted under the transition guidance within the new standard. Application of the package of practical expedients allowed the Company not to reassess a) whether any expired or existing contracts contain leases, b) existing lease classification, c) initial direct cost for existing leases, and d) land easements that exist before the Company's adoption of the new standard. The Company leases certain retail stores, office space, land, and equipment. Leases with an initial term of 12 months or less are not recorded on the balance sheets; the Company recognizes lease expense for these leases over the lease term. Most leases include one or more options to renew, with renewal terms that can extend the lease term from one to five years or more. The exercise of lease renewal options is at the Company’s sole discretion. Certain leases also include options to purchase the leased property. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Certain of the Company's lease agreements include rental payments adjusted periodically for inflation. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company rents or subleases certain real estate to third parties. Supplemental balance sheet information related to leases is as follow: Leases Classification March 31, 2019 Assets: Finance Buildings and improvements $ 11,296 Finance Vehicle 6,209 Finance Hardware, software and other equipment 5,760 Total finance 23,265 Operating Operating lease assets 104,089 Total lease assets Premises and equipment, net (1) $ 127,354 Liabilities: Finance Debt $ 20,568 Operating Other liabilities 112,907 Total lease liabilities $ 133,475 (1) As of March 31, 2019 , accumulated depreciation and amortization for Buildings and improvements, Vehicle, Hardware, software and other equipment, and Operating lease assets was $995 , $4,709 , $649 and $6,254 , respectively. The components of lease cost are as follows: Lease Cost Classification Three Months Ended March 31, 2019 Finance lease cost: Amortization of leased assets General and administrative expenses $ 1,758 Interest on lease liabilities Interest expense 294 Finance lease cost $ 2,052 Operating lease cost General and administrative expenses $ 8,818 Maturities of the Company’s lease liabilities for the years subsequent to March 31, 2019 are as follows: Operating Leases Finance Leases Total 2019 (remaining nine months) $ 23,189 $ 5,508 $ 28,697 2020 25,770 6,230 32,000 2021 19,791 3,808 23,599 2022 15,925 2,083 18,008 2023 13,495 1,446 14,941 2024 10,915 1,428 12,343 Thereafter 25,675 2,847 28,522 Total lease payments $ 134,760 $ 23,350 $ 158,110 Less: Interest (21,853 ) (2,782 ) Present value of lease liabilities $ 112,907 $ 20,568 Supplemental information related to term and discount rate is as follow: Leases Classification March 31, 2019 Weighted-average remaining lease term (years): Finance Buildings and improvements 7.7 years Finance Vehicle 2.2 years Finance Hardware, software and other equipment 1.5 years Operating Operating lease assets 5.8 years Weighted-average discount rate: Finance Buildings and improvements 5.8 % Finance Vehicle 4.2 % Finance Hardware, software and other equipment 4.2 % Operating Operating lease assets 5.9 % Supplemental cash flow information related to leases is as follow: Three Months Ended March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from finance leases $ 294 Financing cash flows from finance leases 1,509 Operating cash flows from operating leases 6,020 Leased assets obtained in exchange for new finance lease liabilities 7,253

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation The Company’s insurance subsidiaries are named as defendants in various legal actions arising principally from claims made under insurance policies and contracts. Those actions are considered by the Company in estimating the loss and LAE reserves. The Company’s management believes the resolution of those actions will not have a material adverse effect on the Company’s financial position or results of operations. The Company as a defendant and the other parties involved in the consolidated multi-district class action litigation in the United States District Court for the Central District of California with respect to allegations of improper practices in the placement of insurance in the historical and no longer existing collateral protection insurance program for Wells Fargo have recently reached agreement upon a preliminary settlement of the litigation subject to final documentation and court approval. As of December 31, 2018 , the Company accrued a net liability relating to the settlement of $10,000

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company files a consolidated Federal income tax return. The Reciprocal Exchanges are not included in the Company’s consolidated tax return as the Company does not have an ownership interest in the Reciprocal Exchanges, and they are not a part of the consolidated tax sharing agreement among the Company and its subsidiaries. The Company uses the estimated annual effective tax rate method. Certain items, including those deemed to be unusual, infrequent or that cannot be reliably estimated, are excluded from the estimated annual effective tax rate. In these cases, the actual tax expense or benefit is reported in the same period as the related item. Certain tax effects are also not reflected in the estimated annual effective tax rate, primarily certain changes in the realizability of deferred tax assets and uncertain tax positions. The Company’s consolidated effective tax rate decreased from 22.4% for the three months ended March 31, 2018 to 20.9% for the three months ended March 31, 2019 . The decrease was primarily driven by the impact of foreign operations.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	Share-Based Compensation The Company currently has two equity incentive plans (the “Plans”). The Plans authorize up to an aggregate of 7,435,000 shares of Company stock for awards of options to purchase shares of the Company’s common stock, stock appreciation rights, restricted stock, restricted stock units (“RSU”), unrestricted stock and other performance awards. The aggregate number of shares of common stock for which awards may be issued may not exceed 7,435,000 shares, subject to the authority of the Company’s Board of Directors to adjust this amount in the event of a consolidation, reorganization, stock dividend, recapitalization or similar transaction affecting the Company’s common stock. As of March 31, 2019 , 29,451 shares of the Company’s common stock remained available for grants under the Plans. A summary of the stock option awards is shown below: Shares Subject to Options Outstanding Three Months Ended March 31, 2019 Number of Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (1) Outstanding at beginning of period 3,184,352 $ 9.53 Exercised (25,216 ) 3.67 Outstanding and exercisable at end of period 3,159,136 $ 9.58 3.8 $ 44,718 (1) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying stock option awards and the closing price of the Company’s common stock of $23.73 , as reported on the Nasdaq Global Select Market on March 29, 2019 . No options were granted, forfeited or expired during the three months ended March 31, 2019 . The total intrinsic value of the options exercised for the three months ended March 31, 2019 and 2018 was $526 and $1,502 , respectively. The total fair value of stock options vested for the three months ended March 31, 2019 and 2018 was $37 and $221 , respectively. A summary of the RSUs is shown below: RSUs Three Months Ended March 31, 2019 Number of RSUs Weighted-Average Grant Date Fair Value Non-vested at beginning of period 938,795 $ 22.28 Granted 497,741 25.60 Vested (267,060 ) 21.70 Forfeited (5,881 ) 24.44 Non-vested at end of period 1,163,595 $ 23.82 The weighted-average grant date fair value of RSUs granted for the three months ended March 31, 2019 and 2018 was $25.60 and $20.15 , respectively. The total fair value of the RSUs vested for the three months ended March 31, 2019 and 2018 was $5,796 and $3,882 , respectively. Compensation expense, included in general and administrative expenses, for all share-based compensation plans was $2,622 and $2,130 for the three months ended March 31, 2019 and 2018 , respectively. As of March 31, 2019 , the Company had approximately $24,051 of unrecognized share-based compensation expense, all of which was related to RSUs. This unrecognized compensation expense is expected to be recognized over a weighted-average period of approximately 1.7

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following is a summary of the elements used in calculating basic and diluted earnings per common share: Three Months Ended March 31, 2019 2018 Numerator: Net income attributable to NGHC $ 91,758 $ 68,208 Preferred stock dividends - nonconvertible (7,875 ) (7,875 ) Preferred stock dividends - convertible — — Numerator for basic EPS 83,883 60,333 Effect of dilutive securities: Preferred stock dividends - convertible — — Numerator for diluted EPS - after assumed conversions $ 83,883 $ 60,333 Denominator: Denominator for basic EPS - weighted-average shares outstanding 113,014,711 106,758,641 Effect of dilutive securities: Employee stock options 1,939,844 1,922,885 RSUs 331,198 269,458 Convertible preferred stock 789,473 — Dilutive potential common shares 3,060,515 2,192,343 Denominator for diluted EPS - weighted-average shares outstanding and assumed conversions 116,075,226 108,950,984 Basic EPS $ 0.74 $ 0.57 Diluted EPS $ 0.72 $ 0.55

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The significant shareholder of the Company has an ownership interest in AmTrust, Maiden Holdings Ltd. (“Maiden”) and ACP Re. The Company provides and receives services to and from these related entities as follows: Agreements with AmTrust Asset Purchase and Master Services Agreements On September 13, 2017 , the Company entered into an asset purchase and license agreement (the “Agreement”) with AmTrust, pursuant to which the Company acquired ownership of a policy management system and the related intellectual property, as well as a non-exclusive perpetual license to certain software programs used by the system (the “System”), for a purchase price of $200,000 , including license fees which would have been payable for use of the System during the third quarter 2017. The System has been fully transferred to the Company’s operating environment and the purchase price has been fully paid. The Agreement also terminated the existing master services agreement between the Company and AmTrust. AmTrust will continue to provide management of the premium receipts from its lockbox facilities during a transition period pursuant to the Agreement under the same terms as those provided under the master services agreement. The Company recorded expenses related to this agreement of $425 and $3,756 for the three months ended March 31, 2019 and 2018 , respectively. NGHC Quota Share Agreement The Company participated in a quota share reinsurance treaty with ACP Re, Maiden and AmTrust, whereby the Company ceded 50% of the total net earned premiums, net of a ceding commission, and net incurred losses and LAE on business with effective dates after March 1, 2010 (“NGHC Quota Share”). In August 2013, the Company terminated the NGHC Quota Share agreement on a run-off basis. The net reinsurance recoverable is $6,136 and $7,425 at March 31, 2019 and December 31, 2018 , respectively. The net recovery under the agreement was $456 and $97 for the three months ended March 31, 2019 and 2018 , respectively. ACP Re and Maiden held assets in trust for the benefit of the Company in the amount of $2,397 and $8,034 , respectively, as of March 31, 2019 and $3,796 and $8,644 , respectively, as of December 31, 2018 . Equity Method Investments The Company has an ownership interest in an LSC Entity, limited liability companies and limited partnerships with related parties. See Note 3 , “ Investments - Equity Method Investments - Related Parties” for additional information. Agreements with ACP Re Credit Agreement The Company is party to a credit agreement (the “ACP Re Credit Agreement”) by and among AmTrust, as administrative agent, ACP Re Holdings, LLC, a Delaware limited liability company owned by a related party trust, the Michael Karfunkel Family 2005 Trust (the “Trust”), as borrower, and AmTrust and the Company, as lenders of $250,000 ( $125,000 each lender). The amounts borrowed are secured by equity interests, cash and, other investments held by ACP Re Holdings, LLC in an amount equal to 115% of the outstanding loan balance. The maturity date of the loan is September 20, 2036. The interest rate on the outstanding principal balance is a fixed annual rate of 3.7% , provided that up to 1.2% thereof may be paid in kind. The Trust is required to cause ACP Re Holdings, LLC to maintain assets having a value greater than 115% of the outstanding loan balance, and if there is a shortfall, the Trust will make a contribution to ACP Re Holdings, LLC of assets having a market value of at least the shortfall (the “Maintenance Covenant”). Commencing on September 20, 2026, and for each year thereafter, two percent of the then outstanding principal balance of the loan (inclusive of any amounts previously paid in kind) is due and payable. A change of control of greater than 50% and an uncured breach of the Maintenance Covenant are included as events of default. As of March 31, 2019 and December 31, 2018 the Company had a receivable principal amount related to the ACP Re Credit Agreement of $128,458 and $127,692 , respectively. The Company recorded interest income of $1,188 and $1,174 for the three months ended March 31, 2019 and 2018 , respectively, under the ACP Re Credit Agreement. Management determined no impairment reserve was needed for the carrying value of the loan at March 31, 2019 and December 31, 2018 based on the collateral levels maintained. Other Related Party Transactions Operating Lease Agreements The Company leases office space at 59 Maiden Lane in New York, New York from 59 Maiden Lane Associates LLC, an entity that is wholly-owned by the Karfunkel family. The lease term is through 2022. The Company paid $207 and $207 in rent for the three months ended March 31, 2019 and 2018 , respectively. The Company leases office space at 30 North LaSalle Street, Chicago, Illinois from 30 North LaSalle Street Partners LLC, an entity that is wholly-owned by the Karfunkel family. The lease term is through 2025. The Company paid $76 and $75 in rent for the three months ended March 31, 2019 and 2018 , respectively. Use of the Company Aircraft The Company and Barry Karfunkel, Chief Executive Officer of the Company, are parties to a time sharing agreement for the use of the Company’s plane. During the three months ended March 31, 2019 and 2018 , Mr. Barry Karfunkel reimbursed the Company $15 and $40

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Segment Information	Segment Information The Company currently operates two business segments, “Property and Casualty” and “Accident and Health.” The “Corporate and Other” column represents the activities of the holding company, as well as income from the Company’s investment portfolio. The Company evaluates segment profits attributable to the performance of activities within the segment separately from the results of the Company’s investment portfolio. Other operating expenses allocated to the segments are called “General and administrative expenses” which are allocated on an actual basis except corporate salaries and benefits where management’s judgment is applied. In determining total assets by segment, the Company identifies those assets that are attributable to a particular segment such as premiums, deferred acquisition costs, reinsurance recoverable, prepaid reinsurance premiums, intangible assets and goodwill, while the remaining assets are allocated to Corporate and Other. The Property and Casualty segment, which includes the Reciprocal Exchanges and the management companies, reports the management fees earned by the Company from the Reciprocal Exchanges for underwriting, investment management and other services as service and fee income. The effects of these transactions between the Company and the Reciprocal Exchanges are eliminated in consolidation to derive consolidated net income. However, the management fee income is reported in net income attributable to NGHC and included in the basic and diluted earnings per share. The following tables summarize the results of operations of the operating segments: Three Months Ended March 31, 2019 Property and Casualty Accident and Health Corporate and Other Total Underwriting revenues: Gross premium written $ 1,251,234 $ 258,544 $ — $ 1,509,778 Ceded premiums (286,751 ) (58,363 ) — (345,114 ) Net premium written 964,483 200,181 — 1,164,664 Change in unearned premium (161,906 ) (38,601 ) — (200,507 ) Net earned premium 802,577 161,580 — 964,157 Ceding commission income 66,943 2,591 — 69,534 Service and fee income 104,495 61,012 — 165,507 Total underwriting revenues 974,015 225,183 — 1,199,198 Underwriting expenses: Loss and loss adjustment expense 567,060 84,749 — 651,809 Acquisition costs and other underwriting expenses 154,070 57,848 — 211,918 General and administrative expenses 189,456 58,638 — 248,094 Total underwriting expenses 910,586 201,235 — 1,111,821 Underwriting income 63,429 23,948 — 87,377 Net investment income — — 33,445 33,445 Net gain on investments — — 22 22 Interest expense — — (12,999 ) (12,999 ) Provision for income taxes — — (22,506 ) (22,506 ) Net (income) loss attributable to non-controlling interest — — 6,419 6,419 Net income attributable to NGHC $ 63,429 $ 23,948 $ 4,381 $ 91,758 Three Months Ended March 31, 2018 Property Accident Corporate Total Underwriting revenues: Gross premium written $ 1,199,354 $ 233,776 $ — $ 1,433,130 Ceded premiums (316,064 ) (10,423 ) — (326,487 ) Net premium written 883,290 223,353 — 1,106,643 Change in unearned premium (131,628 ) (69,477 ) — (201,105 ) Net earned premium 751,662 153,876 — 905,538 Ceding commission income 44,210 258 — 44,468 Service and fee income 96,935 45,187 — 142,122 Total underwriting revenues 892,807 199,321 — 1,092,128 Underwriting expenses: Loss and loss adjustment expense 542,888 91,278 — 634,166 Acquisition costs and other underwriting expenses 125,102 43,608 — 168,710 General and administrative expenses 180,397 50,608 — 231,005 Total underwriting expenses 848,387 185,494 — 1,033,881 Underwriting income 44,420 13,827 — 58,247 Net investment income — — 25,011 25,011 Net gain on investments — — 118 118 Interest expense — — (11,154 ) (11,154 ) Provision for income taxes — — (16,202 ) (16,202 ) Net (income) loss attributable to non-controlling interest — — 12,188 12,188 Net income attributable to NGHC $ 44,420 $ 13,827 $ 9,961 $ 68,208 The following tables summarize the financial position of the operating segments: March 31, 2019 Property and Casualty Accident and Health Corporate and Other Total Premiums and other receivables, net $ 1,388,282 $ 216,278 $ 3,691 $ 1,608,251 Deferred acquisition costs 236,159 32,018 — 268,177 Reinsurance recoverable 1,457,778 31,787 — 1,489,565 Prepaid reinsurance premiums 602,498 34,526 — 637,024 Intangible assets, net and Goodwill 438,009 114,986 — 552,995 Prepaid and other assets 22,660 25,196 26,141 73,997 Corporate and other assets — — 5,001,558 5,001,558 Total assets $ 4,145,386 $ 454,791 $ 5,031,390 $ 9,631,567 December 31, 2018 Property and Casualty Accident and Health Corporate and Other Total Premiums and other receivables, net $ 1,245,530 $ 153,896 $ 386 $ 1,399,812 Deferred acquisition costs 226,188 25,220 — 251,408 Reinsurance recoverable 1,585,008 26,730 — 1,611,738 Prepaid reinsurance premiums 665,660 14 — 665,674 Intangible assets, net and Goodwill 443,163 116,957 — 560,120 Prepaid and other assets 20,941 22,472 111,545 154,958 Corporate and other assets — — 4,795,570 4,795,570 Total assets $ 4,186,490 $ 345,289 $ 4,907,501 $ 9,439,280 The following table shows an analysis of the premiums by geographical location: Three Months Ended March 31, 2019 2018 NGHC Reciprocal Total NGHC Reciprocal Total Gross premium written - North America $ 1,294,794 $ 105,569 $ 1,400,363 $ 1,232,772 $ 97,689 $ 1,330,461 Gross premium written - Europe 109,415 — 109,415 102,669 — 102,669 Total $ 1,404,209 $ 105,569 $ 1,509,778 $ 1,335,441 $ 97,689 $ 1,433,130 Net premium written - North America $ 1,053,601 $ 48,955 $ 1,102,556 $ 953,396 $ 50,578 $ 1,003,974 Net premium written - Europe 62,108 — 62,108 102,669 — 102,669 Total $ 1,115,709 $ 48,955 $ 1,164,664 $ 1,056,065 $ 50,578 $ 1,106,643 Net earned premium - North America $ 893,117 $ 45,658 $ 938,775 $ 825,112 $ 46,055 $ 871,167 Net earned premium - Europe 25,382 — 25,382 34,371 — 34,371 Total $ 918,499 $ 45,658 $ 964,157 $ 859,483 $ 46,055 $ 905,538 The following table summarizes service and fee income by source within each operating segment: Three Months Ended March 31, 2019 2018 Property Accident Total Property Accident Total Commission revenue $ 27,210 $ 24,771 $ 51,981 $ 21,709 $ 17,524 $ 39,233 Finance and processing fees 32,436 2,024 34,460 32,060 1,255 33,315 Installment fees 24,170 — 24,170 21,302 — 21,302 Group health administrative fees — 23,505 23,505 — 19,291 19,291 Late payment fees 8,293 87 8,380 7,558 25 7,583 Other service and fee income 12,386 10,625 23,011 14,306 7,092 21,398 Total $ 104,495 $ 61,012 $ 165,507 $ 96,935 $ 45,187 $ 142,122 NGHC $ 103,125 $ 61,012 $ 164,137 $ 94,489 $ 45,187 $ 139,676 Reciprocal Exchanges 1,370 — 1,370 2,446 — 2,446 Total $ 104,495 $ 61,012 $ 165,507 $ 96,935 $ 45,187 $ 142,122 The following tables show an analysis of premiums and fee income by product line: Three Months Ended March 31, Gross Premium Written 2019 2018 Property and Casualty Personal Auto $ 766,681 $ 724,645 Homeowners 152,042 140,253 RV/Packaged 51,851 49,464 Small Business Auto 85,878 86,244 Lender-placed Insurance 75,938 84,934 Other 13,275 16,125 Total Property and Casualty 1,145,665 1,101,665 Accident and Health Group 64,938 56,060 Individual 84,192 75,048 International 109,414 102,668 Total Accident and Health 258,544 233,776 Total NGHC $ 1,404,209 $ 1,335,441 Reciprocal Exchanges Personal Auto $ 36,862 $ 34,297 Homeowners 67,800 62,521 Other 907 871 Total Reciprocal Exchanges $ 105,569 $ 97,689 Total Gross Premium Written $ 1,509,778 $ 1,433,130 Three Months Ended March 31, Net Premium Written 2019 2018 Property and Casualty Personal Auto $ 658,920 $ 553,997 Homeowners 85,245 92,596 RV/Packaged 51,597 49,189 Small Business Auto 74,186 64,727 Lender-placed Insurance 42,070 63,214 Other 3,510 8,989 Total Property and Casualty 915,528 832,712 Accident and Health Group 53,950 45,637 Individual 84,123 75,048 International 62,108 102,668 Total Accident and Health 200,181 223,353 Total NGHC $ 1,115,709 $ 1,056,065 Reciprocal Exchanges Personal Auto $ 15,645 $ 13,495 Homeowners 33,016 36,808 Other 294 275 Total Reciprocal Exchanges $ 48,955 $ 50,578 Total Net Premium Written $ 1,164,664 $ 1,106,643 Three Months Ended March 31, Net Earned Premium 2019 2018 Property and Casualty Personal Auto $ 510,554 $ 454,216 Homeowners 84,058 82,195 RV/Packaged 50,305 45,689 Small Business Auto 67,633 58,562 Lender-placed Insurance 41,718 60,469 Other 2,651 4,476 Total Property and Casualty 756,919 705,607 Accident and Health Group 53,963 45,639 Individual 82,235 73,866 International 25,382 34,371 Total Accident and Health 161,580 153,876 NGHC Total $ 918,499 $ 859,483 Reciprocal Exchanges Personal Auto $ 15,861 $ 12,997 Homeowners 29,491 32,771 Other 306 287 Total Reciprocal Exchanges 45,658 46,055 Total Net Earned Premium $ 964,157 $ 905,538 Three Months Ended March 31, Fee Income 2019 2018 Property and Casualty Service and Fee Income $ 103,125 $ 94,489 Ceding Commission Income 48,409 32,700 Total Property and Casualty 151,534 127,189 Accident and Health Service and Fee Income Group 30,374 24,814 Individual 2,136 1,297 Third Party Fee 28,502 19,076 Total Service and Fee Income 61,012 45,187 Ceding Commission Income 2,591 258 Total Accident and Health 63,603 45,445 NGHC Total $ 215,137 $ 172,634 Reciprocal Exchanges Service and Fee Income $ 1,370 $ 2,446 Ceding Commission Income 18,534 11,510 Total Reciprocal Exchanges $ 19,904 $ 13,956 Total Fee Income $ 235,041 $ 186,590

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Adopted During 2019 Standard Description Date of Adoption Effect on the Company ASU 2016-02, Leases (Topic 842) and related amendments. This standard was issued to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The standard establishes a right-of-use (“ROU”) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. January 1, 2019 The Company adopted the standard as of the beginning of the year of adoption using the modified retrospective transition approach and did not adjust prior comparative periods. The Company recorded the recognition of the ROU asset and lease liability net of deferred rent and inducement costs in both total assets and liabilities in the Condensed Consolidated Balance Sheets of $85,000, net of the deferred tax impact. The adoption of this guidance did not have a material effect on the Company’s Condensed Consolidated Statements of Income and had no impact on cash flows. See Note 9, “Leases” for additional information. Not Yet Adopted With the exception of the adopted or not yet adopted accounting pronouncements discussed here, there have been no recent accounting pronouncements, or quantitative or qualitative progress made towards implementation of outstanding accounting pronouncements during the three months ended March 31, 2019 , as compared to those described in Note 2, “Significant Accounting Policies” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 , that are of significance, or potential significance, to the Company. Standard Description Effective Date Effect on the Company ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This standard significantly changes the impairment model for most financial assets and certain other instruments. ASU 2016-13 will require immediate recognition of estimated credit losses expected to occur over the remaining life of many financial assets, which will generally result in earlier recognition of allowances for credit losses on loans and other financial instruments. Companies will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. Companies will continue to use judgment to determine which loss estimation method is appropriate for their circumstances. In November 2018, the FASB issued ASU 2018-19, “Codification Improvements to Topic 326, Financial Instruments-Credit Losses,” the amendment to ASU 2016-13 which clarifies that receivables arising from operating leases are not within the scope of Topic 326 and impairment of receivables arising from operating leases should be accounted for in accordance with Topic 842, Leases. January 1, 2020 Based on the financial instruments currently held by the Company, it does not expect a material effect on the Company’s consolidated financial condition, results of operations, cash flows and disclosures if the new guidance were able to be adopted in the current accounting period. The impact on the Company’s consolidated financial condition, results of operations, cash flows and disclosures at the date of adoption of the updated guidance will be determined by the financial instruments held by the Company and the economic conditions at that time. The Company’s implementation and evaluation process to date includes, but is not limited to, identifying the financial assets within the scope of the guidance and assessing models for the relevant financial assets. ASU 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. This standard establishes a one-step process for testing the value of the goodwill which an entity carries. ASU 2017-04 requires the goodwill impairment to be measured as the excess of the reporting unit’s carrying amount over its fair value. Early adoption is permitted for interim or annual goodwill impairment tests. January 1, 2020 Based on the goodwill currently held by the Company, there would not be a material effect on the Company’s consolidated financial condition, results of operations, cash flows and disclosures if the new guidance were able to be adopted in the current accounting period.

Recent Accounting Pronounceme_3

Recent Accounting Pronouncements (Tables)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	Adopted During 2019 Standard Description Date of Adoption Effect on the Company ASU 2016-02, Leases (Topic 842) and related amendments. This standard was issued to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The standard establishes a right-of-use (“ROU”) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. January 1, 2019 The Company adopted the standard as of the beginning of the year of adoption using the modified retrospective transition approach and did not adjust prior comparative periods. The Company recorded the recognition of the ROU asset and lease liability net of deferred rent and inducement costs in both total assets and liabilities in the Condensed Consolidated Balance Sheets of $85,000, net of the deferred tax impact. The adoption of this guidance did not have a material effect on the Company’s Condensed Consolidated Statements of Income and had no impact on cash flows. See Note 9, “Leases” for additional information. Not Yet Adopted With the exception of the adopted or not yet adopted accounting pronouncements discussed here, there have been no recent accounting pronouncements, or quantitative or qualitative progress made towards implementation of outstanding accounting pronouncements during the three months ended March 31, 2019 , as compared to those described in Note 2, “Significant Accounting Policies” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 , that are of significance, or potential significance, to the Company. Standard Description Effective Date Effect on the Company ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This standard significantly changes the impairment model for most financial assets and certain other instruments. ASU 2016-13 will require immediate recognition of estimated credit losses expected to occur over the remaining life of many financial assets, which will generally result in earlier recognition of allowances for credit losses on loans and other financial instruments. Companies will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. Companies will continue to use judgment to determine which loss estimation method is appropriate for their circumstances. In November 2018, the FASB issued ASU 2018-19, “Codification Improvements to Topic 326, Financial Instruments-Credit Losses,” the amendment to ASU 2016-13 which clarifies that receivables arising from operating leases are not within the scope of Topic 326 and impairment of receivables arising from operating leases should be accounted for in accordance with Topic 842, Leases. January 1, 2020 Based on the financial instruments currently held by the Company, it does not expect a material effect on the Company’s consolidated financial condition, results of operations, cash flows and disclosures if the new guidance were able to be adopted in the current accounting period. The impact on the Company’s consolidated financial condition, results of operations, cash flows and disclosures at the date of adoption of the updated guidance will be determined by the financial instruments held by the Company and the economic conditions at that time. The Company’s implementation and evaluation process to date includes, but is not limited to, identifying the financial assets within the scope of the guidance and assessing models for the relevant financial assets. ASU 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. This standard establishes a one-step process for testing the value of the goodwill which an entity carries. ASU 2017-04 requires the goodwill impairment to be measured as the excess of the reporting unit’s carrying amount over its fair value. Early adoption is permitted for interim or annual goodwill impairment tests. January 1, 2020 Based on the goodwill currently held by the Company, there would not be a material effect on the Company’s consolidated financial condition, results of operations, cash flows and disclosures if the new guidance were able to be adopted in the current accounting period.

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Available-for-Sale Debt Securities	The amortized cost, gross unrealized gains and losses, and fair value of available-for-sale debt securities were as follows: March 31, 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury $ 61,814 $ 1,348 $ (179 ) $ 62,983 Federal agencies 25,611 22 (17 ) 25,616 States and political subdivision bonds 258,204 3,222 (523 ) 260,903 Foreign government 142,324 2,894 — 145,218 Corporate bonds 1,332,739 23,098 (6,287 ) 1,349,550 Residential mortgage-backed securities 937,003 3,844 (9,837 ) 931,010 Commercial mortgage-backed securities 547,557 14,281 (4,766 ) 557,072 Asset-backed securities 61,198 941 (53 ) 62,086 Structured securities 245,552 179 (4,822 ) 240,909 Total $ 3,612,002 $ 49,829 $ (26,484 ) $ 3,635,347 NGHC $ 3,312,760 $ 47,687 $ (24,382 ) $ 3,336,065 Reciprocal Exchanges 299,242 2,142 (2,102 ) 299,282 Total $ 3,612,002 $ 49,829 $ (26,484 ) $ 3,635,347 December 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury $ 64,829 $ 1,026 $ (262 ) $ 65,593 Federal agencies 37,842 22 (389 ) 37,475 States and political subdivision bonds 274,367 1,369 (3,539 ) 272,197 Foreign government 151,443 993 (70 ) 152,366 Corporate bonds 1,283,061 3,094 (25,450 ) 1,260,705 Residential mortgage-backed securities 944,365 716 (19,965 ) 925,116 Commercial mortgage-backed securities 548,192 3,757 (6,974 ) 544,975 Asset-backed securities 60,563 705 (121 ) 61,147 Structured securities 249,947 99 (8,588 ) 241,458 Total $ 3,614,609 $ 11,781 $ (65,358 ) $ 3,561,032 NGHC $ 3,311,639 $ 11,206 $ (58,896 ) $ 3,263,949 Reciprocal Exchanges 302,970 575 (6,462 ) 297,083 Total $ 3,614,609 $ 11,781 $ (65,358 ) $ 3,561,032
Available-for-Sale Debt Securities by Contractual Maturity	The amortized cost and fair value of available-for-sale debt securities held as of March 31, 2019 , by contractual maturity, are shown in the table below. Actual maturities may differ from contractual maturities because some borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. NGHC Reciprocal Exchanges Total March 31, 2019 Amortized Fair Amortized Fair Amortized Fair Due in one year or less $ 30,231 $ 30,138 $ 300 $ 300 $ 30,531 $ 30,438 Due after one year through five years 803,464 811,067 157,364 156,838 960,828 967,905 Due after five years through ten years 775,802 788,585 44,621 45,048 820,423 833,633 Due after ten years 242,711 241,384 11,751 11,819 254,462 253,203 Mortgage-backed securities 1,460,552 1,464,891 85,206 85,277 1,545,758 1,550,168 Total $ 3,312,760 $ 3,336,065 $ 299,242 $ 299,282 $ 3,612,002 $ 3,635,347
Gross Unrealized Losses	The tables below summarize the gross unrealized losses on debt securities classified as available for sale, by length of time the security has continuously been in an unrealized loss position. Less Than 12 Months 12 Months or More Total March 31, 2019 Fair Unrealized Fair Unrealized Fair Unrealized U.S. Treasury $ 17,811 $ (5 ) $ 19,397 $ (174 ) $ 37,208 $ (179 ) Federal agencies 4,897 (3 ) 719 (14 ) 5,616 (17 ) States and political subdivision bonds 9,247 (32 ) 73,312 (491 ) 82,559 (523 ) Foreign government 500 — — — 500 — Corporate bonds 50,725 (196 ) 368,397 (6,091 ) 419,122 (6,287 ) Residential mortgage-backed securities 91,162 (1,655 ) 485,077 (8,182 ) 576,239 (9,837 ) Commercial mortgage-backed securities — — 151,359 (4,766 ) 151,359 (4,766 ) Asset-backed securities 340 — 1,752 (53 ) 2,092 (53 ) Structured securities 165,574 (3,796 ) 21,169 (1,026 ) 186,743 (4,822 ) Total $ 340,256 $ (5,687 ) $ 1,121,182 $ (20,797 ) $ 1,461,438 $ (26,484 ) NGHC $ 315,312 $ (5,452 ) $ 965,236 $ (18,930 ) $ 1,280,548 $ (24,382 ) Reciprocal Exchanges 24,944 (235 ) 155,946 (1,867 ) 180,890 (2,102 ) Total $ 340,256 $ (5,687 ) $ 1,121,182 $ (20,797 ) $ 1,461,438 $ (26,484 ) Less Than 12 Months 12 Months or More Total December 31, 2018 Fair Unrealized Fair Unrealized Fair Unrealized U.S. Treasury $ 474 $ (2 ) $ 21,540 $ (260 ) $ 22,014 $ (262 ) Federal agencies 23,729 (351 ) 1,493 (38 ) 25,222 (389 ) States and political subdivision bonds 57,090 (902 ) 119,759 (2,637 ) 176,849 (3,539 ) Foreign government 45,748 (70 ) — — 45,748 (70 ) Corporate bonds 586,359 (12,891 ) 321,115 (12,559 ) 907,474 (25,450 ) Residential mortgage-backed securities 234,396 (1,637 ) 551,623 (18,328 ) 786,019 (19,965 ) Commercial mortgage-backed securities 13,229 (239 ) 148,700 (6,735 ) 161,929 (6,974 ) Asset-backed securities 25,978 (78 ) 1,494 (43 ) 27,472 (121 ) Structured securities 222,154 (8,136 ) 6,167 (452 ) 228,321 (8,588 ) Total $ 1,209,157 $ (24,306 ) $ 1,171,891 $ (41,052 ) $ 2,381,048 $ (65,358 ) NGHC $ 1,115,823 $ (22,668 ) $ 1,018,975 $ (36,228 ) $ 2,134,798 $ (58,896 ) Reciprocal Exchanges 93,334 (1,638 ) 152,916 (4,824 ) 246,250 (6,462 ) Total $ 1,209,157 $ (24,306 ) $ 1,171,891 $ (41,052 ) $ 2,381,048 $ (65,358 )
Equity Securities	The fair values of equity securities were as follows: March 31, 2019 December 31, 2018 Common stock $ 10,285 $ 10,949 Total $ 10,285 $ 10,949 NGHC $ 10,285 $ 10,949 Reciprocal Exchanges — — Total $ 10,285 $ 10,949
Investment Income	The components of net investment income consisted of the following: Three Months Ended March 31, 2019 2018 Cash and short-term investments $ 1,497 $ 187 Debt securities 29,467 24,256 Equity securities 2 155 Other, net (related parties - $254 and $(295)) 3,506 1,821 Investment income 34,472 26,419 Investment expenses (1,027 ) (1,408 ) Net investment income $ 33,445 $ 25,011 NGHC $ 31,275 $ 22,867 Reciprocal Exchanges 2,170 2,144 Net investment income $ 33,445 $ 25,011
Net Realized Gains (Losses)	The table below indicates realized gains and losses on investments, including foreign exchange. Purchases and sales of investments are recorded on a trade date basis. Realized gains and losses are determined based on the specific identification method. Three Months Ended March 31, 2019 2018 Debt securities, available-for-sale: Gross gains $ 136 $ 1,169 Gross losses (256 ) (1,171 ) Net realized gain (loss) on debt securities, available-for-sale (120 ) (2 ) Equity securities 1,036 (1,048 ) Short-term and other investments (1 ) (4 ) Foreign currency transactions (893 ) 1,172 Net realized gain on investments $ 22 $ 118 NGHC $ 766 $ 249 Reciprocal Exchanges (744 ) (131 ) Net realized gain on investments $ 22 $ 118 Net gains and losses recognized during the reporting period on equity securities still held at the reporting date were as follows: Three Months Ended March 31, 2019 2018 Net gains (losses) recognized during the period $ 1,036 $ (1,048 ) Less: Net gains (losses) recognized during the period on securities sold during the period — — Net gains (losses) recognized during the reporting period on securities still held at the reporting date $ 1,036 $ (1,048 )
Credit Quality of Investments	The tables below summarize the credit quality of debt securities, as rated by Standard & Poor’s (“S&P”). If a security is not rated by S&P, an S&P equivalent is determined based on ratings from similar rating agencies. Securities that are not rated are included in the “BB+ and lower” category. NGHC Reciprocal Exchanges March 31, 2019 Amortized Cost Fair Value Percentage Amortized Cost Fair Value Percentage U.S. Treasury $ 48,823 $ 49,736 1.5 % $ 12,991 $ 13,247 4.4 % AAA 574,775 589,125 17.7 % 18,283 18,408 6.2 % AA, AA+, AA- 1,368,935 1,363,545 40.9 % 129,590 129,337 43.2 % A, A+, A- 615,601 621,717 18.6 % 127,511 127,668 42.7 % BBB, BBB+, BBB- 664,992 673,198 20.2 % 10,835 10,590 3.5 % BB+ and lower 39,634 38,744 1.1 % 32 32 — % Total $ 3,312,760 $ 3,336,065 100.0 % $ 299,242 $ 299,282 100.0 % NGHC Reciprocal Exchanges December 31, 2018 Amortized Fair Percentage Amortized Fair Percentage U.S. Treasury $ 52,122 $ 52,759 1.6 % $ 12,707 $ 12,834 4.3 % AAA 586,639 589,078 18.0 % 18,335 18,109 6.1 % AA, AA+, AA- 1,385,709 1,358,528 41.6 % 142,525 140,114 47.2 % A, A+, A- 591,219 581,106 17.8 % 118,535 115,618 38.9 % BBB, BBB+, BBB- 653,645 641,554 19.7 % 10,834 10,374 3.5 % BB+ and lower 42,305 40,924 1.3 % 34 34 — % Total $ 3,311,639 $ 3,263,949 100.0 % $ 302,970 $ 297,083 100.0 % The tables below summarize the investment quality of the corporate bond holdings and industry concentrations. March 31, 2019 AAA AA+, A+,A,A- BBB+, BB+ or Fair % of Financial Institutions — % 4.4 % 24.1 % 14.5 % 0.7 % $ 589,699 43.7 % Industrials 0.4 % 5.5 % 21.3 % 26.5 % 0.6 % 733,355 54.3 % Utilities/Other — % — % 1.6 % 0.4 % — % 26,496 2.0 % Total 0.4 % 9.9 % 47.0 % 41.4 % 1.3 % $ 1,349,550 100.0 % NGHC — % 6.7 % 37.6 % 40.6 % 1.3 % $ 1,163,549 86.2 % Reciprocal Exchanges 0.4 % 3.2 % 9.4 % 0.8 % — % 186,001 13.8 % Total 0.4 % 9.9 % 47.0 % 41.4 % 1.3 % $ 1,349,550 100.0 % December 31, 2018 AAA AA+, A+,A,A- BBB+, BB+ or Fair % of Financial Institutions — % 4.3 % 23.1 % 14.2 % 0.9 % $ 535,373 42.5 % Industrials 0.4 % 6.1 % 21.5 % 26.7 % 0.6 % 697,324 55.3 % Utilities/Other — % — % 1.8 % 0.4 % — % 28,008 2.2 % Total 0.4 % 10.4 % 46.4 % 41.3 % 1.5 % $ 1,260,705 100.0 % NGHC — % 6.3 % 37.3 % 40.6 % 1.4 % $ 1,079,099 85.6 % Reciprocal Exchanges 0.4 % 4.1 % 9.1 % 0.7 % 0.1 % 181,606 14.4 % Total 0.4 % 10.4 % 46.4 % 41.3 % 1.5 % $ 1,260,705 100.0 %
Cash, Cash Equivalents and Restricted Cash	Cash, cash equivalents, and restricted cash are as follows: March 31, 2019 December 31, 2018 Cash and cash equivalents $ 188,064 $ 193,858 Restricted cash and cash equivalents 32,208 39,725 Total cash, cash equivalents and restricted cash $ 220,272 $ 233,583
Restricted Investments	Restricted investments are as follows: March 31, 2019 December 31, 2018 Securities on deposit with state regulatory authorities $ 76,215 $ 73,119 Restricted investments to trusts in certain reinsurance transactions 66,894 70,470 Total restricted investments $ 143,109 $ 143,589
Other Investments	The table below summarizes the composition of other investments: March 31, 2019 December 31, 2018 Equity method investments (related parties - $105,097 and $106,031) $ 142,707 $ 142,921 Notes receivable (related parties - $128,458 and $127,692) 129,474 128,893 Long-term Certificates of Deposit (CDs), at cost 20,151 20,252 Investments, at fair value 5,971 6,542 Investments, at cost or amortized cost 7,668 7,668 Total $ 305,971 $ 306,276
LSC Entity	The following table presents the Company’s 50% investment activity in the LSC Entity: Three Months Ended March 31, 2019 2018 Beginning of the period $ 48,324 $ 160,683 Distributions — (107,035 ) Contributions — 2,000 Equity in earnings (losses) 586 700 Change in equity method investments 586 (104,335 ) End of the period $ 48,910 $ 56,348

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping	Assets measured at fair value on a recurring basis are as follows: March 31, 2019 Level 1 Level 2 Level 3 Total Available-for-sale debt securities: U.S. Treasury $ 62,983 $ — $ — $ 62,983 Federal agencies 25,616 — — 25,616 States and political subdivision bonds — 257,243 3,660 260,903 Foreign government — 145,218 — 145,218 Corporate bonds — 1,337,716 11,834 1,349,550 Residential mortgage-backed securities — 931,010 — 931,010 Commercial mortgage-backed securities — 557,072 — 557,072 Asset-backed securities — 62,086 — 62,086 Structured securities — 240,909 — 240,909 Total available-for-sale debt securities 88,599 3,531,254 15,494 3,635,347 Equity securities: Common stock 9,068 — 1,217 10,285 Total equity securities 9,068 — 1,217 10,285 Short-term investments 390,052 — — 390,052 Other investments — — 5,971 5,971 Total $ 487,719 $ 3,531,254 $ 22,682 $ 4,041,655 NGHC $ 454,840 $ 3,245,219 $ 22,682 $ 3,722,741 Reciprocal Exchanges 32,879 286,035 — 318,914 Total $ 487,719 $ 3,531,254 $ 22,682 $ 4,041,655 December 31, 2018 Level 1 Level 2 Level 3 Total Available-for-sale debt securities: U.S. Treasury $ 65,593 $ — $ — $ 65,593 Federal agencies 37,475 — — 37,475 States and political subdivision bonds — 268,601 3,596 272,197 Foreign government — 152,366 — 152,366 Corporate bonds — 1,248,938 11,767 1,260,705 Residential mortgage-backed securities — 925,116 — 925,116 Commercial mortgage-backed securities — 544,975 — 544,975 Asset-backed securities — 61,147 — 61,147 Structured securities — 241,458 — 241,458 Total available-for-sale debt securities 103,068 3,442,601 15,363 3,561,032 Equity securities: Common stock 9,898 — 1,051 10,949 Total equity securities 9,898 — 1,051 10,949 Short-term investments 348,549 — — 348,549 Other investments — — 6,542 6,542 Total $ 461,515 $ 3,442,601 $ 22,956 $ 3,927,072 NGHC $ 429,502 $ 3,160,203 $ 22,956 $ 3,612,661 Reciprocal Exchanges 32,013 282,398 — 314,411 Total $ 461,515 $ 3,442,601 $ 22,956 $ 3,927,072
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation	The following tables provide a reconciliation of recurring fair value measurements of the Level 3 financial assets: States and Corporate Common Other Total Balance as of January 1, 2019 $ 3,596 $ 11,767 $ 1,051 $ 6,542 $ 22,956 Transfers into Level 3 — — — — — Transfers out of Level 3 — — — — — Total gains (losses) for the period: Included in net income (1) — — 166 (571 ) (405 ) Included in other comprehensive income (2) 64 67 — — 131 Purchases — — — — — Sales — — — — — Balance as of March 31, 2019 $ 3,660 $ 11,834 $ 1,217 $ 5,971 $ 22,682 Change in unrealized gains (losses) for the period included in net income for assets held at the end of the reporting period $ — $ — $ 166 $ (571 ) $ (405 ) Change in unrealized gains (losses) for the period included in other comprehensive income for assets held at the end of the reporting period $ 64 $ 67 $ — $ — $ 131 States and Corporate Common Preferred Other Total Balance as of January 1, 2018 $ 4,081 $ 24,545 $ 5,052 $ 270 $ 10,782 $ 44,730 Transfers into Level 3 — — — — — — Transfers out of Level 3 — — — — — — Total gains (losses) for the period: Included in net income (1) — — (1,186 ) 12 794 (380 ) Included in other comprehensive income (2) 46 (32 ) — — — 14 Purchases — — — — — — Sales — — — — (526 ) (526 ) Balance as of March 31, 2018 $ 4,127 $ 24,513 $ 3,866 $ 282 $ 11,050 $ 43,838 Change in unrealized gains (losses) for the period included in net income for assets held at the end of the reporting period $ — $ — $ (1,186 ) $ 12 $ 794 $ (380 ) (1) Gains and losses recognized in net income are reported within Net investment income. (2) Gains and losses recognized in other comprehensive income are reported within unrealized gains (losses) on investments, net of tax.
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	The following table presents the carrying amount and estimated fair value of debt not carried at fair value, excluding capital lease liabilities, as well as the input level used to determine the fair value are indicated below: March 31, 2019 December 31, 2018 Input Level Carrying amount Fair value Carrying amount Fair value 7.625% Notes Level 2 $ 96,863 $ 102,000 $ 96,842 $ 90,400 6.75% Notes Level 3 346,600 357,879 346,439 353,756 Subordinated Debentures Level 3 72,168 72,114 72,168 72,109 Credit Agreement Level 3 — — 160,000 163,222 2019 Credit Agreement Level 3 160,000 168,964 — —

Deferred Acquisition Costs (Tab

Deferred Acquisition Costs (Tables)	3 Months Ended
	Mar. 31, 2019
Deferred Acquisition Costs [Abstract]
Deferred Policy Acquisition Costs	The following table reflects the amounts of policy acquisition costs deferred and amortized: Three Months Ended March 31, 2019 2018 Property Accident Total Property Accident Total Beginning of the period $ 226,188 $ 25,220 $ 251,408 $ 198,283 $ 18,106 $ 216,389 Additions 145,979 25,101 171,080 139,132 5,940 145,072 Amortization (136,008 ) (18,303 ) (154,311 ) (120,332 ) (7,529 ) (127,861 ) Change in DAC 9,971 6,798 16,769 18,800 (1,589 ) 17,211 End of the period $ 236,159 $ 32,018 $ 268,177 $ 217,083 $ 16,517 $ 233,600 NGHC $ 215,854 $ 32,018 $ 247,872 $ 195,448 $ 16,517 $ 211,965 Reciprocal Exchanges 20,305 — 20,305 21,635 — 21,635 End of the period $ 236,159 $ 32,018 $ 268,177 $ 217,083 $ 16,517 $ 233,600

Unpaid Losses and Loss Adjust_2

Unpaid Losses and Loss Adjustment Expense Reserves (Tables)	3 Months Ended
	Mar. 31, 2019
Insurance [Abstract]
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense	The tables below show the roll forward of loss reserves on a gross and net of reinsurance basis, reflecting changes in losses incurred and paid losses: Three Months Ended March 31, 2019 Property Accident NGHC Reciprocal Total Unpaid losses and LAE, gross of related reinsurance recoverable at beginning of the period $ 2,507,409 $ 271,280 $ 2,778,689 $ 178,470 $ 2,957,159 Less: Reinsurance recoverable at beginning of the period (1,182,588 ) (24,575 ) (1,207,163 ) (77,979 ) (1,285,142 ) Net balance at beginning of the period 1,324,821 246,705 1,571,526 100,491 1,672,017 Incurred losses and LAE related to: Current year 530,549 95,601 626,150 39,973 666,123 Prior year (5,514 ) (10,852 ) (16,366 ) 2,052 (14,314 ) Total incurred 525,035 84,749 609,784 42,025 651,809 Paid losses and LAE related to: Current year (130,395 ) (33,681 ) (164,076 ) (14,949 ) (179,025 ) Prior year (422,560 ) (53,310 ) (475,870 ) (21,478 ) (497,348 ) Total paid (552,955 ) (86,991 ) (639,946 ) (36,427 ) (676,373 ) Effect of foreign exchange rates — 1,094 1,094 — 1,094 Net balance at end of the period 1,296,901 245,557 1,542,458 106,089 1,648,547 Plus: Reinsurance recoverable at end of the period 1,103,114 28,729 1,131,843 89,933 1,221,776 Gross balance at end of period $ 2,400,015 $ 274,286 $ 2,674,301 $ 196,022 $ 2,870,323 Three Months Ended March 31, 2018 Property Accident NGHC Reciprocal Total Unpaid losses and LAE, gross of related reinsurance recoverable at beginning of the period $ 2,270,551 $ 249,653 $ 2,520,204 $ 143,353 $ 2,663,557 Less: Reinsurance recoverable at beginning of the period (1,067,495 ) (9,840 ) (1,077,335 ) (52,408 ) (1,129,743 ) Net balance at beginning of the period 1,203,056 239,813 1,442,869 90,945 1,533,814 Incurred losses and LAE related to: Current year 513,526 94,661 608,187 45,917 654,104 Prior year (15,169 ) (3,383 ) (18,552 ) (1,386 ) (19,938 ) Total incurred 498,357 91,278 589,635 44,531 634,166 Paid losses and LAE related to: Current year (202,967 ) (20,290 ) (223,257 ) (19,686 ) (242,943 ) Prior year (306,126 ) (47,992 ) (354,118 ) (17,455 ) (371,573 ) Total paid (509,093 ) (68,282 ) (577,375 ) (37,141 ) (614,516 ) Effect of foreign exchange rates — (1,679 ) (1,679 ) — (1,679 ) Net balance at end of the period 1,192,320 261,130 1,453,450 98,335 1,551,785 Plus: Reinsurance recoverable at end of the period 1,058,106 8,565 1,066,671 60,461 1,127,132 Gross balance at end of period $ 2,250,426 $ 269,695 $ 2,520,121 $ 158,796 $ 2,678,917

Reinsurance (Tables)

Reinsurance (Tables)	3 Months Ended
	Mar. 31, 2019
Insurance [Abstract]
Schedule of Reinsurance Recoverable	Reinsurance recoverable summary is as follows: March 31, 2019 December 31, 2018 Reinsurance recoverable on paid losses $ 267,789 $ 326,596 Reinsurance recoverable on unpaid losses 1,221,776 1,285,142 Reinsurance recoverable $ 1,489,565 $ 1,611,738
Schedule of Effect of Reinsurance on Unpaid Loss and LAE Reserves and Unearned Premiums	The following is the effect of reinsurance on unpaid loss and LAE reserves and unearned premiums: March 31, 2019 December 31, 2018 Assumed Ceded Assumed Ceded Unpaid Loss and LAE reserves $ 76,123 $ 1,221,776 $ 84,469 $ 1,285,142 Unearned premiums 20,604 637,024 21,015 665,674
Schedule of Effect of Reinsurance on Premiums	The following is a summary of effects of reinsurance on premiums and losses: Three Months Ended March 31, 2019 2018 Premium: Written Earned Written Earned Direct $ 1,489,188 $ 1,315,705 $ 1,413,877 $ 1,191,327 Assumed 20,590 21,000 19,253 29,051 Total Gross Premium 1,509,778 1,336,705 1,433,130 1,220,378 Ceded (345,114 ) (372,548 ) (326,487 ) (314,840 ) Net Premium $ 1,164,664 $ 964,157 $ 1,106,643 $ 905,538
Schedule of Effect of Reinsurance on Losses	Three Months Ended March 31, 2019 2018 Assumed Ceded Assumed Ceded Loss and LAE $ 5,322 $ 209,322 $ (1,321 ) $ 197,317

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Schedule of Debt Instruments	The following table represents the Company’s debt: Interest Rate Maturity March 31, 2019 December 31, 2018 Fixed-rate: 6.75% Notes 6.75% 2024 $ 350,000 $ 350,000 7.625% Notes 7.625% 2055 100,000 100,000 Floating-rate: Subordinated Debentures I LIBOR + 3.40% 2035 41,238 41,238 Subordinated Debentures II LIBOR + 4.25% 2037 30,930 30,930 Credit Agreement (1) LIBOR + 2.00% 2020 — 160,000 2019 Credit Agreement (2) LIBOR + 1.75% 2023 160,000 — Finance lease liabilities Various Various 20,568 14,824 Other 3.5% Various 13,997 15,522 Unamortized debt issuance costs and unamortized discount (6,537 ) (6,719 ) Total carrying amount of debt $ 710,196 $ 705,795 (1) The weighted average interest rate on the amount outstanding as of December 31, 2018 was 4.58% . (2) The weighted average interest rate on the amount outstanding as of March 31, 2019 was 4.27%
Schedule of Interest Expense	The following table presents the Company’s interest expense: Three Months Ended March 31, Interest Payment Frequency 2019 2018 6.75% Notes Semiannually $ 5,906 $ 5,906 7.625% Notes Quarterly 1,906 1,906 Subordinated Debentures Quarterly 1,163 986 Credit Agreement Quarterly 1,211 1,684 2019 Credit Agreement Quarterly 529 — Finance lease liabilities Various 294 164 Other (1) Various 1,990 508 Total interest expense $ 12,999 $ 11,154 (1) Other includes interest for other liabilities, interest credited on funds held balances and accretion of debt issuance costs.
Schedule of Maturities of Long-term Debt	Maturities of the Company’s debt for the years subsequent to March 31, 2019 are as follows: 2019 (remaining nine months) 2020 2021 2022 2023 2024 Thereafter Total 6.75% Notes $ — $ — $ — $ — $ — $ 350,000 $ — $ 350,000 7.625% Notes — — — — — — 100,000 100,000 Subordinated Debentures I — — — — — — 41,238 41,238 Subordinated Debentures II — — — — — — 30,930 30,930 2019 Credit Agreement — — — — 160,000 — — 160,000 Finance lease liabilities 4,866 5,585 3,370 1,756 1,192 1,242 2,557 20,568 Other 4,655 6,399 2,943 — — — — 13,997 Total principal amount of debt $ 9,521 $ 11,984 $ 6,313 $ 1,756 $ 161,192 $ 351,242 $ 174,725 $ 716,733 Unamortized debt issuance costs and unamortized discount (6,537 ) Carrying amount of debt $ 710,196

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Schedule of Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases is as follow: Leases Classification March 31, 2019 Assets: Finance Buildings and improvements $ 11,296 Finance Vehicle 6,209 Finance Hardware, software and other equipment 5,760 Total finance 23,265 Operating Operating lease assets 104,089 Total lease assets Premises and equipment, net (1) $ 127,354 Liabilities: Finance Debt $ 20,568 Operating Other liabilities 112,907 Total lease liabilities $ 133,475 (1) As of March 31, 2019 , accumulated depreciation and amortization for Buildings and improvements, Vehicle, Hardware, software and other equipment, and Operating lease assets was $995 , $4,709 , $649 and $6,254
Schedule of Lease Cost	The components of lease cost are as follows: Lease Cost Classification Three Months Ended March 31, 2019 Finance lease cost: Amortization of leased assets General and administrative expenses $ 1,758 Interest on lease liabilities Interest expense 294 Finance lease cost $ 2,052 Operating lease cost General and administrative expenses $ 8,818
Schedule of Maturity of Financing Lease Liabilities	Maturities of the Company’s lease liabilities for the years subsequent to March 31, 2019 are as follows: Operating Leases Finance Leases Total 2019 (remaining nine months) $ 23,189 $ 5,508 $ 28,697 2020 25,770 6,230 32,000 2021 19,791 3,808 23,599 2022 15,925 2,083 18,008 2023 13,495 1,446 14,941 2024 10,915 1,428 12,343 Thereafter 25,675 2,847 28,522 Total lease payments $ 134,760 $ 23,350 $ 158,110 Less: Interest (21,853 ) (2,782 ) Present value of lease liabilities $ 112,907 $ 20,568
Schedule of Maturity of Operating Lease Liabilities	Maturities of the Company’s lease liabilities for the years subsequent to March 31, 2019 are as follows: Operating Leases Finance Leases Total 2019 (remaining nine months) $ 23,189 $ 5,508 $ 28,697 2020 25,770 6,230 32,000 2021 19,791 3,808 23,599 2022 15,925 2,083 18,008 2023 13,495 1,446 14,941 2024 10,915 1,428 12,343 Thereafter 25,675 2,847 28,522 Total lease payments $ 134,760 $ 23,350 $ 158,110 Less: Interest (21,853 ) (2,782 ) Present value of lease liabilities $ 112,907 $ 20,568
Schedule of Lease Term and Discount Rate	Supplemental information related to term and discount rate is as follow: Leases Classification March 31, 2019 Weighted-average remaining lease term (years): Finance Buildings and improvements 7.7 years Finance Vehicle 2.2 years Finance Hardware, software and other equipment 1.5 years Operating Operating lease assets 5.8 years Weighted-average discount rate: Finance Buildings and improvements 5.8 % Finance Vehicle 4.2 % Finance Hardware, software and other equipment 4.2 % Operating Operating lease assets 5.9 %
Schedule of Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases is as follow: Three Months Ended March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from finance leases $ 294 Financing cash flows from finance leases 1,509 Operating cash flows from operating leases 6,020 Leased assets obtained in exchange for new finance lease liabilities 7,253

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity	A summary of the stock option awards is shown below: Shares Subject to Options Outstanding Three Months Ended March 31, 2019 Number of Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (1) Outstanding at beginning of period 3,184,352 $ 9.53 Exercised (25,216 ) 3.67 Outstanding and exercisable at end of period 3,159,136 $ 9.58 3.8 $ 44,718 (1) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying stock option awards and the closing price of the Company’s common stock of $23.73 , as reported on the Nasdaq Global Select Market on March 29, 2019
Schedule of Share-based Compensation, Restricted Stock Units Award Activity	A summary of the RSUs is shown below: RSUs Three Months Ended March 31, 2019 Number of RSUs Weighted-Average Grant Date Fair Value Non-vested at beginning of period 938,795 $ 22.28 Granted 497,741 25.60 Vested (267,060 ) 21.70 Forfeited (5,881 ) 24.44 Non-vested at end of period 1,163,595 $ 23.82

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following is a summary of the elements used in calculating basic and diluted earnings per common share: Three Months Ended March 31, 2019 2018 Numerator: Net income attributable to NGHC $ 91,758 $ 68,208 Preferred stock dividends - nonconvertible (7,875 ) (7,875 ) Preferred stock dividends - convertible — — Numerator for basic EPS 83,883 60,333 Effect of dilutive securities: Preferred stock dividends - convertible — — Numerator for diluted EPS - after assumed conversions $ 83,883 $ 60,333 Denominator: Denominator for basic EPS - weighted-average shares outstanding 113,014,711 106,758,641 Effect of dilutive securities: Employee stock options 1,939,844 1,922,885 RSUs 331,198 269,458 Convertible preferred stock 789,473 — Dilutive potential common shares 3,060,515 2,192,343 Denominator for diluted EPS - weighted-average shares outstanding and assumed conversions 116,075,226 108,950,984 Basic EPS $ 0.74 $ 0.57 Diluted EPS $ 0.72 $ 0.55

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Schedule of Segment Reporting Information by Segment	The following tables summarize the results of operations of the operating segments: Three Months Ended March 31, 2019 Property and Casualty Accident and Health Corporate and Other Total Underwriting revenues: Gross premium written $ 1,251,234 $ 258,544 $ — $ 1,509,778 Ceded premiums (286,751 ) (58,363 ) — (345,114 ) Net premium written 964,483 200,181 — 1,164,664 Change in unearned premium (161,906 ) (38,601 ) — (200,507 ) Net earned premium 802,577 161,580 — 964,157 Ceding commission income 66,943 2,591 — 69,534 Service and fee income 104,495 61,012 — 165,507 Total underwriting revenues 974,015 225,183 — 1,199,198 Underwriting expenses: Loss and loss adjustment expense 567,060 84,749 — 651,809 Acquisition costs and other underwriting expenses 154,070 57,848 — 211,918 General and administrative expenses 189,456 58,638 — 248,094 Total underwriting expenses 910,586 201,235 — 1,111,821 Underwriting income 63,429 23,948 — 87,377 Net investment income — — 33,445 33,445 Net gain on investments — — 22 22 Interest expense — — (12,999 ) (12,999 ) Provision for income taxes — — (22,506 ) (22,506 ) Net (income) loss attributable to non-controlling interest — — 6,419 6,419 Net income attributable to NGHC $ 63,429 $ 23,948 $ 4,381 $ 91,758 Three Months Ended March 31, 2018 Property Accident Corporate Total Underwriting revenues: Gross premium written $ 1,199,354 $ 233,776 $ — $ 1,433,130 Ceded premiums (316,064 ) (10,423 ) — (326,487 ) Net premium written 883,290 223,353 — 1,106,643 Change in unearned premium (131,628 ) (69,477 ) — (201,105 ) Net earned premium 751,662 153,876 — 905,538 Ceding commission income 44,210 258 — 44,468 Service and fee income 96,935 45,187 — 142,122 Total underwriting revenues 892,807 199,321 — 1,092,128 Underwriting expenses: Loss and loss adjustment expense 542,888 91,278 — 634,166 Acquisition costs and other underwriting expenses 125,102 43,608 — 168,710 General and administrative expenses 180,397 50,608 — 231,005 Total underwriting expenses 848,387 185,494 — 1,033,881 Underwriting income 44,420 13,827 — 58,247 Net investment income — — 25,011 25,011 Net gain on investments — — 118 118 Interest expense — — (11,154 ) (11,154 ) Provision for income taxes — — (16,202 ) (16,202 ) Net (income) loss attributable to non-controlling interest — — 12,188 12,188 Net income attributable to NGHC $ 44,420 $ 13,827 $ 9,961 $ 68,208 The following tables summarize the financial position of the operating segments: March 31, 2019 Property and Casualty Accident and Health Corporate and Other Total Premiums and other receivables, net $ 1,388,282 $ 216,278 $ 3,691 $ 1,608,251 Deferred acquisition costs 236,159 32,018 — 268,177 Reinsurance recoverable 1,457,778 31,787 — 1,489,565 Prepaid reinsurance premiums 602,498 34,526 — 637,024 Intangible assets, net and Goodwill 438,009 114,986 — 552,995 Prepaid and other assets 22,660 25,196 26,141 73,997 Corporate and other assets — — 5,001,558 5,001,558 Total assets $ 4,145,386 $ 454,791 $ 5,031,390 $ 9,631,567 December 31, 2018 Property and Casualty Accident and Health Corporate and Other Total Premiums and other receivables, net $ 1,245,530 $ 153,896 $ 386 $ 1,399,812 Deferred acquisition costs 226,188 25,220 — 251,408 Reinsurance recoverable 1,585,008 26,730 — 1,611,738 Prepaid reinsurance premiums 665,660 14 — 665,674 Intangible assets, net and Goodwill 443,163 116,957 — 560,120 Prepaid and other assets 20,941 22,472 111,545 154,958 Corporate and other assets — — 4,795,570 4,795,570 Total assets $ 4,186,490 $ 345,289 $ 4,907,501 $ 9,439,280
Revenue from External Customers by Geographic Areas	The following table shows an analysis of the premiums by geographical location: Three Months Ended March 31, 2019 2018 NGHC Reciprocal Total NGHC Reciprocal Total Gross premium written - North America $ 1,294,794 $ 105,569 $ 1,400,363 $ 1,232,772 $ 97,689 $ 1,330,461 Gross premium written - Europe 109,415 — 109,415 102,669 — 102,669 Total $ 1,404,209 $ 105,569 $ 1,509,778 $ 1,335,441 $ 97,689 $ 1,433,130 Net premium written - North America $ 1,053,601 $ 48,955 $ 1,102,556 $ 953,396 $ 50,578 $ 1,003,974 Net premium written - Europe 62,108 — 62,108 102,669 — 102,669 Total $ 1,115,709 $ 48,955 $ 1,164,664 $ 1,056,065 $ 50,578 $ 1,106,643 Net earned premium - North America $ 893,117 $ 45,658 $ 938,775 $ 825,112 $ 46,055 $ 871,167 Net earned premium - Europe 25,382 — 25,382 34,371 — 34,371 Total $ 918,499 $ 45,658 $ 964,157 $ 859,483 $ 46,055 $ 905,538
Revenue from External Customers by Product Type	The following table summarizes service and fee income by source within each operating segment: Three Months Ended March 31, 2019 2018 Property Accident Total Property Accident Total Commission revenue $ 27,210 $ 24,771 $ 51,981 $ 21,709 $ 17,524 $ 39,233 Finance and processing fees 32,436 2,024 34,460 32,060 1,255 33,315 Installment fees 24,170 — 24,170 21,302 — 21,302 Group health administrative fees — 23,505 23,505 — 19,291 19,291 Late payment fees 8,293 87 8,380 7,558 25 7,583 Other service and fee income 12,386 10,625 23,011 14,306 7,092 21,398 Total $ 104,495 $ 61,012 $ 165,507 $ 96,935 $ 45,187 $ 142,122 NGHC $ 103,125 $ 61,012 $ 164,137 $ 94,489 $ 45,187 $ 139,676 Reciprocal Exchanges 1,370 — 1,370 2,446 — 2,446 Total $ 104,495 $ 61,012 $ 165,507 $ 96,935 $ 45,187 $ 142,122 The following tables show an analysis of premiums and fee income by product line: Three Months Ended March 31, Gross Premium Written 2019 2018 Property and Casualty Personal Auto $ 766,681 $ 724,645 Homeowners 152,042 140,253 RV/Packaged 51,851 49,464 Small Business Auto 85,878 86,244 Lender-placed Insurance 75,938 84,934 Other 13,275 16,125 Total Property and Casualty 1,145,665 1,101,665 Accident and Health Group 64,938 56,060 Individual 84,192 75,048 International 109,414 102,668 Total Accident and Health 258,544 233,776 Total NGHC $ 1,404,209 $ 1,335,441 Reciprocal Exchanges Personal Auto $ 36,862 $ 34,297 Homeowners 67,800 62,521 Other 907 871 Total Reciprocal Exchanges $ 105,569 $ 97,689 Total Gross Premium Written $ 1,509,778 $ 1,433,130 Three Months Ended March 31, Net Premium Written 2019 2018 Property and Casualty Personal Auto $ 658,920 $ 553,997 Homeowners 85,245 92,596 RV/Packaged 51,597 49,189 Small Business Auto 74,186 64,727 Lender-placed Insurance 42,070 63,214 Other 3,510 8,989 Total Property and Casualty 915,528 832,712 Accident and Health Group 53,950 45,637 Individual 84,123 75,048 International 62,108 102,668 Total Accident and Health 200,181 223,353 Total NGHC $ 1,115,709 $ 1,056,065 Reciprocal Exchanges Personal Auto $ 15,645 $ 13,495 Homeowners 33,016 36,808 Other 294 275 Total Reciprocal Exchanges $ 48,955 $ 50,578 Total Net Premium Written $ 1,164,664 $ 1,106,643 Three Months Ended March 31, Net Earned Premium 2019 2018 Property and Casualty Personal Auto $ 510,554 $ 454,216 Homeowners 84,058 82,195 RV/Packaged 50,305 45,689 Small Business Auto 67,633 58,562 Lender-placed Insurance 41,718 60,469 Other 2,651 4,476 Total Property and Casualty 756,919 705,607 Accident and Health Group 53,963 45,639 Individual 82,235 73,866 International 25,382 34,371 Total Accident and Health 161,580 153,876 NGHC Total $ 918,499 $ 859,483 Reciprocal Exchanges Personal Auto $ 15,861 $ 12,997 Homeowners 29,491 32,771 Other 306 287 Total Reciprocal Exchanges 45,658 46,055 Total Net Earned Premium $ 964,157 $ 905,538 Three Months Ended March 31, Fee Income 2019 2018 Property and Casualty Service and Fee Income $ 103,125 $ 94,489 Ceding Commission Income 48,409 32,700 Total Property and Casualty 151,534 127,189 Accident and Health Service and Fee Income Group 30,374 24,814 Individual 2,136 1,297 Third Party Fee 28,502 19,076 Total Service and Fee Income 61,012 45,187 Ceding Commission Income 2,591 258 Total Accident and Health 63,603 45,445 NGHC Total $ 215,137 $ 172,634 Reciprocal Exchanges Service and Fee Income $ 1,370 $ 2,446 Ceding Commission Income 18,534 11,510 Total Reciprocal Exchanges $ 19,904 $ 13,956 Total Fee Income $ 235,041 $ 186,590

Basis of Reporting Basis of Rep

Basis of Reporting Basis of Reporting (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Adoption of Leases Topic 842
Other liabilities	$ 392,160	$ 240,404
Debt | Accounting Standards Update 2016-02
Adoption of Leases Topic 842
Other liabilities		$ 30,346

Recent Accounting Pronounceme_4

Recent Accounting Pronouncements - Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019
Adoption of Leases Topic 842
Lease, Right-of-Use Asset	$ 127,354
Lease Liability	$ 133,475
Accounting Standards Update 2016-02
Adoption of Leases Topic 842
Lease, Right-of-Use Asset		$ 85,000
Lease Liability		$ 85,000

Investments - Available-for-Sal

Investments - Available-for-Sale Debt Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Schedule of Available-for-sale Securities
Total	$ 3,612,002	$ 3,614,609
Gross Unrealized Gains
Total	49,829	11,781
Total	(26,484)	(65,358)
Fair Value
Debt securities, available-for-sale	3,635,347	3,561,032
Fair Value	3,635,347	3,561,032
Other-than-temporary impairments recognized in AOCI	0	0
Reciprocal Exchanges
Schedule of Available-for-sale Securities
Total	299,242	302,970
Gross Unrealized Gains
Total	2,142	575
Total	(2,102)	(6,462)
Fair Value
Debt securities, available-for-sale	299,282	297,083
Fair Value	299,282	297,083
NGHC, excluding Reciprocal Exchanges
Schedule of Available-for-sale Securities
Total	3,312,760	3,311,639
Gross Unrealized Gains
Total	47,687	11,206
Total	(24,382)	(58,896)
Fair Value
Fair Value	3,336,065	3,263,949
U.S. Treasury
Schedule of Available-for-sale Securities
Debt Securities	61,814	64,829
Gross Unrealized Gains
Debt Securities	1,348	1,026
Debt Securities	(179)	(262)
Fair Value
Debt securities, available-for-sale	62,983	65,593
U.S. Treasury | Reciprocal Exchanges
Schedule of Available-for-sale Securities
Total	12,991	12,707
Fair Value
Fair Value	13,247	12,834
U.S. Treasury | NGHC, excluding Reciprocal Exchanges
Schedule of Available-for-sale Securities
Total	48,823	52,122
Fair Value
Fair Value	49,736	52,759
Federal agencies
Schedule of Available-for-sale Securities
Debt Securities	25,611	37,842
Gross Unrealized Gains
Debt Securities	22	22
Debt Securities	(17)	(389)
Fair Value
Debt securities, available-for-sale	25,616	37,475
States and political subdivision bonds
Schedule of Available-for-sale Securities
Debt Securities	258,204	274,367
Gross Unrealized Gains
Debt Securities	3,222	1,369
Debt Securities	(523)	(3,539)
Fair Value
Debt securities, available-for-sale	260,903	272,197
Foreign government
Schedule of Available-for-sale Securities
Debt Securities	142,324	151,443
Gross Unrealized Gains
Debt Securities	2,894	993
Debt Securities	0	(70)
Fair Value
Debt securities, available-for-sale	145,218	152,366
Corporate bonds
Schedule of Available-for-sale Securities
Debt Securities	1,332,739	1,283,061
Gross Unrealized Gains
Debt Securities	23,098	3,094
Debt Securities	(6,287)	(25,450)
Fair Value
Debt securities, available-for-sale	1,349,550	1,260,705
Residential mortgage-backed securities
Schedule of Available-for-sale Securities
Debt Securities	937,003	944,365
Gross Unrealized Gains
Debt Securities	3,844	716
Debt Securities	(9,837)	(19,965)
Fair Value
Debt securities, available-for-sale	931,010	925,116
Commercial mortgage-backed securities
Schedule of Available-for-sale Securities
Debt Securities	547,557	548,192
Gross Unrealized Gains
Debt Securities	14,281	3,757
Debt Securities	(4,766)	(6,974)
Fair Value
Debt securities, available-for-sale	557,072	544,975
Asset-backed securities
Schedule of Available-for-sale Securities
Debt Securities	61,198	60,563
Gross Unrealized Gains
Debt Securities	941	705
Debt Securities	(53)	(121)
Fair Value
Debt securities, available-for-sale	62,086	61,147
Structured securities
Schedule of Available-for-sale Securities
Debt Securities	245,552	249,947
Gross Unrealized Gains
Debt Securities	179	99
Debt Securities	(4,822)	(8,588)
Fair Value
Debt securities, available-for-sale	$ 240,909	$ 241,458

Investments - Available-for-S_2

Investments - Available-for-Sale Debt Securities by Contractual Maturity (Details) $ in Thousands	Mar. 31, 2019USD ($)
Amortized Cost
Due in one year or less	$ 30,531
Due after one year through five years	960,828
Due after five years through ten years	820,423
Due after ten years	254,462
Mortgage-backed securities	1,545,758
Debt Securities	3,612,002
Fair Value
Due in one year or less	30,438
Due after one year through five years	967,905
Due after five years through ten years	833,633
Due after ten years	253,203
Mortgage-backed securities	1,550,168
Debt Securities	3,635,347
Reciprocal Exchanges
Amortized Cost
Due in one year or less	300
Due after one year through five years	157,364
Due after five years through ten years	44,621
Due after ten years	11,751
Mortgage-backed securities	85,206
Debt Securities	299,242
Fair Value
Due in one year or less	300
Due after one year through five years	156,838
Due after five years through ten years	45,048
Due after ten years	11,819
Mortgage-backed securities	85,277
Debt Securities	299,282
NGHC, excluding Reciprocal Exchanges
Amortized Cost
Due in one year or less	30,231
Due after one year through five years	803,464
Due after five years through ten years	775,802
Due after ten years	242,711
Mortgage-backed securities	1,460,552
Debt Securities	3,312,760
Fair Value
Due in one year or less	30,138
Due after one year through five years	811,067
Due after five years through ten years	788,585
Due after ten years	241,384
Mortgage-backed securities	1,464,891
Debt Securities	$ 3,336,065

Investments - Gross Unrealized

Investments - Gross Unrealized Losses (Details) $ in Thousands	Mar. 31, 2019USD ($)security	Dec. 31, 2018USD ($)security
Fair Value
Less Than 12 Months	$ 340,256	$ 1,209,157
12 Months or More	1,121,182	1,171,891
Total	1,461,438	2,381,048
Unrealized Losses
Less Than 12 Months	(5,687)	(24,306)
12 Months or More	(20,797)	(41,052)
Total	$ (26,484)	$ (65,358)
Number of securities with gross unrealized loss | security	857	1,662
25% of amortized cost or cost	25.00%	25.00%
Reciprocal Exchanges
Fair Value
Less Than 12 Months	$ 24,944	$ 93,334
12 Months or More	155,946	152,916
Total	180,890	246,250
Unrealized Losses
Less Than 12 Months	(235)	(1,638)
12 Months or More	(1,867)	(4,824)
Total	(2,102)	(6,462)
NGHC, excluding Reciprocal Exchanges
Fair Value
Less Than 12 Months	315,312	1,115,823
12 Months or More	965,236	1,018,975
Total	1,280,548	2,134,798
Unrealized Losses
Less Than 12 Months	(5,452)	(22,668)
12 Months or More	(18,930)	(36,228)
Total	(24,382)	(58,896)
U.S. Treasury
Fair Value
Less Than 12 Months	17,811	474
12 Months or More	19,397	21,540
Total	37,208	22,014
Unrealized Losses
Less Than 12 Months	(5)	(2)
12 Months or More	(174)	(260)
Total	(179)	(262)
Federal agencies
Fair Value
Less Than 12 Months	4,897	23,729
12 Months or More	719	1,493
Total	5,616	25,222
Unrealized Losses
Less Than 12 Months	(3)	(351)
12 Months or More	(14)	(38)
Total	(17)	(389)
States and political subdivision bonds
Fair Value
Less Than 12 Months	9,247	57,090
12 Months or More	73,312	119,759
Total	82,559	176,849
Unrealized Losses
Less Than 12 Months	(32)	(902)
12 Months or More	(491)	(2,637)
Total	(523)	(3,539)
Foreign government
Fair Value
Less Than 12 Months	500	45,748
12 Months or More	0	0
Total	500	45,748
Unrealized Losses
Less Than 12 Months	0	(70)
12 Months or More	0	0
Total	0	(70)
Corporate bonds
Fair Value
Less Than 12 Months	50,725	586,359
12 Months or More	368,397	321,115
Total	419,122	907,474
Unrealized Losses
Less Than 12 Months	(196)	(12,891)
12 Months or More	(6,091)	(12,559)
Total	(6,287)	(25,450)
Residential mortgage-backed securities
Fair Value
Less Than 12 Months	91,162	234,396
12 Months or More	485,077	551,623
Total	576,239	786,019
Unrealized Losses
Less Than 12 Months	(1,655)	(1,637)
12 Months or More	(8,182)	(18,328)
Total	(9,837)	(19,965)
Commercial mortgage-backed securities
Fair Value
Less Than 12 Months	0	13,229
12 Months or More	151,359	148,700
Total	151,359	161,929
Unrealized Losses
Less Than 12 Months	0	(239)
12 Months or More	(4,766)	(6,735)
Total	(4,766)	(6,974)
Asset-backed securities
Fair Value
Less Than 12 Months	340	25,978
12 Months or More	1,752	1,494
Total	2,092	27,472
Unrealized Losses
Less Than 12 Months	0	(78)
12 Months or More	(53)	(43)
Total	(53)	(121)
Structured securities
Fair Value
Less Than 12 Months	165,574	222,154
12 Months or More	21,169	6,167
Total	186,743	228,321
Unrealized Losses
Less Than 12 Months	(3,796)	(8,136)
12 Months or More	(1,026)	(452)
Total	$ (4,822)	$ (8,588)

Investments - Equity Securities

Investments - Equity Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Schedule of Equity Securities
Equity securities	$ 10,285	$ 10,949
Reciprocal Exchanges
Schedule of Equity Securities
Equity securities	0	0
NGHC, excluding Reciprocal Exchanges
Schedule of Equity Securities
Equity securities	10,285	10,949
Common stock
Schedule of Equity Securities
Equity securities	$ 10,285	$ 10,949

Investments - Investment Income

Investments - Investment Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net Investment Income
Investment Income, Interest	$ 34,472	$ 26,419
Investment expenses	(1,027)	(1,408)
Net investment income	33,445	25,011
Reciprocal Exchanges
Net Investment Income
Net investment income	2,170	2,144
NGHC, excluding Reciprocal Exchanges
Net Investment Income
Net investment income	31,275	22,867
Cash and short-term investments
Net Investment Income
Investment Income, Interest	1,497	187
Debt securities
Net Investment Income
Investment Income, Interest	29,467	24,256
Equity securities
Net Investment Income
Investment Income, Interest	2	155
Other, net (related parties - $254 and $(295))
Net Investment Income
Other, net (related parties - $254 and $(295))	3,506	1,821
Other, net (related parties - $254 and $(295)) | Related Parties
Net Investment Income
Other, net (related parties - $254 and $(295))	$ 254	$ (295)

Investments - Net Realized Gain

Investments - Net Realized Gains (Losses) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Gain (Loss) on Investments
Foreign currency transactions	$ (893)	$ 1,172
Net realized gain (loss) on investments	22	118
Reciprocal Exchanges
Gain (Loss) on Investments
Net realized gain (loss) on investments	(744)	(131)
NGHC, excluding Reciprocal Exchanges
Gain (Loss) on Investments
Net realized gain (loss) on investments	766	249
Debt securities
Gain (Loss) on Investments
Debt securities, available-for-sale, gross gains	136	1,169
Debt securities, available-for-sale, gross losses	(256)	(1,171)
Net realized gain (loss) on debt securities, available-for-sale	(120)	(2)
Equity securities
Gain (Loss) on Investments
Equity securities	1,036	(1,048)
Less: Net gains (losses) recognized during the period on securities sold during the period	0	0
Net gains (losses) recognized during the reporting period on securities still held at the reporting date	1,036	(1,048)
Short-term and other investments
Gain (Loss) on Investments
Short-term and other investments	$ (1)	$ (4)

Investments - Credit Quality of

Investments - Credit Quality of Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Schedule of Available-for-sale Securities
Amortized Cost	$ 3,612,002	$ 3,614,609
Fair Value	3,635,347	3,561,032
NGHC, excluding Reciprocal Exchanges
Schedule of Available-for-sale Securities
Amortized Cost	3,312,760	3,311,639
Fair Value	3,336,065	3,263,949
Reciprocal Exchanges
Schedule of Available-for-sale Securities
Amortized Cost	299,242	302,970
Fair Value	299,282	297,083
Debt securities | NGHC, excluding Reciprocal Exchanges
Schedule of Available-for-sale Securities
Amortized Cost	3,312,760	3,311,639
Fair Value	$ 3,336,065	$ 3,263,949
Percentage	100.00%	100.00%
Debt securities | Reciprocal Exchanges
Schedule of Available-for-sale Securities
Amortized Cost	$ 299,242	$ 302,970
Fair Value	$ 299,282	$ 297,083
Percentage	100.00%	100.00%
U.S. Treasury | NGHC, excluding Reciprocal Exchanges
Schedule of Available-for-sale Securities
Amortized Cost	$ 48,823	$ 52,122
Fair Value	$ 49,736	$ 52,759
Percentage	1.50%	1.60%
U.S. Treasury | Reciprocal Exchanges
Schedule of Available-for-sale Securities
Amortized Cost	$ 12,991	$ 12,707
Fair Value	$ 13,247	$ 12,834
Percentage	4.40%	4.30%
Debt Securities, Excluding US Treasury Securities | Standard & Poor's, AAA Rating | NGHC, excluding Reciprocal Exchanges
Schedule of Available-for-sale Securities
Amortized Cost	$ 574,775	$ 586,639
Fair Value	$ 589,125	$ 589,078
Percentage	17.70%	18.00%
Debt Securities, Excluding US Treasury Securities | Standard & Poor's, AAA Rating | Reciprocal Exchanges
Schedule of Available-for-sale Securities
Amortized Cost	$ 18,283	$ 18,335
Fair Value	$ 18,408	$ 18,109
Percentage	6.20%	6.10%
Debt Securities, Excluding US Treasury Securities | Standard & Poor's, AA, AA Plus, and AA Minus Rating | NGHC, excluding Reciprocal Exchanges
Schedule of Available-for-sale Securities
Amortized Cost	$ 1,368,935	$ 1,385,709
Fair Value	$ 1,363,545	$ 1,358,528
Percentage	40.90%	41.60%
Debt Securities, Excluding US Treasury Securities | Standard & Poor's, AA, AA Plus, and AA Minus Rating | Reciprocal Exchanges
Schedule of Available-for-sale Securities
Amortized Cost	$ 129,590	$ 142,525
Fair Value	$ 129,337	$ 140,114
Percentage	43.20%	47.20%
Debt Securities, Excluding US Treasury Securities | Standard & Poor's, A, A Plus, and A Minus Rating | NGHC, excluding Reciprocal Exchanges
Schedule of Available-for-sale Securities
Amortized Cost	$ 615,601	$ 591,219
Fair Value	$ 621,717	$ 581,106
Percentage	18.60%	17.80%
Debt Securities, Excluding US Treasury Securities | Standard & Poor's, A, A Plus, and A Minus Rating | Reciprocal Exchanges
Schedule of Available-for-sale Securities
Amortized Cost	$ 127,511	$ 118,535
Fair Value	$ 127,668	$ 115,618
Percentage	42.70%	38.90%
Debt Securities, Excluding US Treasury Securities | Standard & Poor's, BBB, BBB Plus, and BBB Minus Rating | NGHC, excluding Reciprocal Exchanges
Schedule of Available-for-sale Securities
Amortized Cost	$ 664,992	$ 653,645
Fair Value	$ 673,198	$ 641,554
Percentage	20.20%	19.70%
Debt Securities, Excluding US Treasury Securities | Standard & Poor's, BBB, BBB Plus, and BBB Minus Rating | Reciprocal Exchanges
Schedule of Available-for-sale Securities
Amortized Cost	$ 10,835	$ 10,834
Fair Value	$ 10,590	$ 10,374
Percentage	3.50%	3.50%
Debt Securities, Excluding US Treasury Securities | Standard & Poor's, BB Plus and Lower Rating | NGHC, excluding Reciprocal Exchanges
Schedule of Available-for-sale Securities
Amortized Cost	$ 39,634	$ 42,305
Fair Value	$ 38,744	$ 40,924
Percentage	1.10%	1.30%
Debt Securities, Excluding US Treasury Securities | Standard & Poor's, BB Plus and Lower Rating | Reciprocal Exchanges
Schedule of Available-for-sale Securities
Amortized Cost	$ 32	$ 34
Fair Value	$ 32	$ 34
Percentage	0.00%	0.00%

Investments - Investment Qualit

Investments - Investment Quality of Corporate Bonds (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Schedule of Available-for-sale Securities
Fair Value	$ 3,635,347	$ 3,561,032
Reciprocal Exchanges
Schedule of Available-for-sale Securities
Fair Value	299,282	297,083
NGHC, excluding Reciprocal Exchanges
Schedule of Available-for-sale Securities
Fair Value	3,336,065	3,263,949
Corporate Debt Securities
Schedule of Available-for-sale Securities
Fair Value	$ 1,349,550	$ 1,260,705
% of Corporate Bonds Portfolio	100.00%	100.00%
Corporate Debt Securities | Reciprocal Exchanges
Schedule of Available-for-sale Securities
Fair Value	$ 186,001	$ 181,606
% of Corporate Bonds Portfolio	13.80%	14.40%
Corporate Debt Securities | NGHC, excluding Reciprocal Exchanges
Schedule of Available-for-sale Securities
Fair Value	$ 1,163,549	$ 1,079,099
% of Corporate Bonds Portfolio	86.20%	85.60%
Corporate Debt Securities | Standard & Poor's, AAA Rating
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	0.40%	0.40%
Corporate Debt Securities | Standard & Poor's, AAA Rating | Reciprocal Exchanges
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	0.40%	0.40%
Corporate Debt Securities | Standard & Poor's, AAA Rating | NGHC, excluding Reciprocal Exchanges
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	0.00%	0.00%
Corporate Debt Securities | Standard & Poor's, AA, AA Plus, and AA Minus Rating
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	9.90%	10.40%
Corporate Debt Securities | Standard & Poor's, AA, AA Plus, and AA Minus Rating | Reciprocal Exchanges
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	3.20%	4.10%
Corporate Debt Securities | Standard & Poor's, AA, AA Plus, and AA Minus Rating | NGHC, excluding Reciprocal Exchanges
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	6.70%	6.30%
Corporate Debt Securities | Standard & Poor's, A, A Plus, and A Minus Rating
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	47.00%	46.40%
Corporate Debt Securities | Standard & Poor's, A, A Plus, and A Minus Rating | Reciprocal Exchanges
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	9.40%	9.10%
Corporate Debt Securities | Standard & Poor's, A, A Plus, and A Minus Rating | NGHC, excluding Reciprocal Exchanges
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	37.60%	37.30%
Corporate Debt Securities | Standard & Poor's, BBB, BBB Plus, and BBB Minus Rating
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	41.40%	41.30%
Corporate Debt Securities | Standard & Poor's, BBB, BBB Plus, and BBB Minus Rating | Reciprocal Exchanges
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	0.80%	0.70%
Corporate Debt Securities | Standard & Poor's, BBB, BBB Plus, and BBB Minus Rating | NGHC, excluding Reciprocal Exchanges
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	40.60%	40.60%
Corporate Debt Securities | Standard & Poor's, BB Plus and Lower Rating
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	1.30%	1.50%
Corporate Debt Securities | Standard & Poor's, BB Plus and Lower Rating | Reciprocal Exchanges
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	0.00%	0.10%
Corporate Debt Securities | Standard & Poor's, BB Plus and Lower Rating | NGHC, excluding Reciprocal Exchanges
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	1.30%	1.40%
Corporate Debt Securities | Financial Institutions
Schedule of Available-for-sale Securities
Fair Value	$ 589,699	$ 535,373
% of Corporate Bonds Portfolio	43.70%	42.50%
Corporate Debt Securities | Financial Institutions | Standard & Poor's, AAA Rating
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	0.00%	0.00%
Corporate Debt Securities | Financial Institutions | Standard & Poor's, AA, AA Plus, and AA Minus Rating
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	4.40%	4.30%
Corporate Debt Securities | Financial Institutions | Standard & Poor's, A, A Plus, and A Minus Rating
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	24.10%	23.10%
Corporate Debt Securities | Financial Institutions | Standard & Poor's, BBB, BBB Plus, and BBB Minus Rating
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	14.50%	14.20%
Corporate Debt Securities | Financial Institutions | Standard & Poor's, BB Plus and Lower Rating
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	0.70%	0.90%
Corporate Debt Securities | Industrials
Schedule of Available-for-sale Securities
Fair Value	$ 733,355	$ 697,324
% of Corporate Bonds Portfolio	54.30%	55.30%
Corporate Debt Securities | Industrials | Standard & Poor's, AAA Rating
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	0.40%	0.40%
Corporate Debt Securities | Industrials | Standard & Poor's, AA, AA Plus, and AA Minus Rating
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	5.50%	6.10%
Corporate Debt Securities | Industrials | Standard & Poor's, A, A Plus, and A Minus Rating
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	21.30%	21.50%
Corporate Debt Securities | Industrials | Standard & Poor's, BBB, BBB Plus, and BBB Minus Rating
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	26.50%	26.70%
Corporate Debt Securities | Industrials | Standard & Poor's, BB Plus and Lower Rating
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	0.60%	0.60%
Corporate Debt Securities | Utilities And Other
Schedule of Available-for-sale Securities
Fair Value	$ 26,496	$ 28,008
% of Corporate Bonds Portfolio	2.00%	2.20%
Corporate Debt Securities | Utilities And Other | Standard & Poor's, AAA Rating
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	0.00%	0.00%
Corporate Debt Securities | Utilities And Other | Standard & Poor's, AA, AA Plus, and AA Minus Rating
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	0.00%	0.00%
Corporate Debt Securities | Utilities And Other | Standard & Poor's, A, A Plus, and A Minus Rating
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	1.60%	1.80%
Corporate Debt Securities | Utilities And Other | Standard & Poor's, BBB, BBB Plus, and BBB Minus Rating
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	0.40%	0.40%
Corporate Debt Securities | Utilities And Other | Standard & Poor's, BB Plus and Lower Rating
Schedule of Available-for-sale Securities
Investment quality - corporate bond holdings and industry concentrations	0.00%	0.00%

Investments - Cash and Cash Equ

Investments - Cash and Cash Equivalents, Restricted Cash and Restricted Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract]
Cash and cash equivalents	$ 188,064	$ 193,858
Restricted cash and cash equivalents	32,208	39,725
Total cash, cash equivalents and restricted cash	220,272	233,583	$ 378,053	$ 357,484
Securities on deposit with state regulatory authorities	76,215	73,119
Restricted investments to trusts in certain reinsurance transactions	66,894	70,470
Total restricted investments	$ 143,109	$ 143,589

Investments - Short-term and Ot

Investments - Short-term and Other Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Investment
Other investments	$ 305,971	$ 306,276
Related Parties
Investment
Other investments	233,555	233,723
Equity method investments (related parties - $105,097 and $106,031)
Investment
Other investments	142,707	142,921
Equity method investments (related parties - $105,097 and $106,031) | Related Parties
Investment
Other investments	105,097	106,031
Notes receivable (related parties - $128,458 and $127,692)
Investment
Other investments	129,474	128,893
Notes receivable (related parties - $128,458 and $127,692) | Related Parties
Investment
Other investments	128,458	127,692
Long-term Certificates of Deposit (CDs), at cost
Investment
Other investments	20,151	20,252
Investments, at fair value
Investment
Other investments	5,971	6,542
Investments, at cost or amortized cost
Investment
Other investments	$ 7,668	$ 7,668

Investments - Related Parties -

Investments - Related Parties - LSC Entity (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)contract	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
LSC Entities | AmTrust Financial Services, Inc.
Schedule of Equity Method Investments
Ownership percentage	50.00%
LSC Entities | VIE, Not primary beneficiary | Related Parties
Schedule of Equity Method Investments
Ownership percentage	50.00%
Life Settlement Contracts, Investment Method, Number of Contracts | contract	1
Equity investment in unconsolidated subsidiaries	$ 48,910	$ 56,348	$ 48,324	$ 160,683
Distributions	0	(107,035)
Contributions	0	2,000
Equity in earnings (losses)	586	700
Change in equity method investments	$ 586	$ (104,335)
LSC Entities investment in LP
Schedule of Equity Method Investments
Ownership percentage	30.00%

Investments - Related Parties_2

Investments - Related Parties - 800 Superior, LLC (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Related Parties | 800 Superior, LLC
Schedule of Equity Method Investments
Rent expense	$ 742	$ 722
800 Superior, LLC | AmTrust Financial Services, Inc.
Schedule of Equity Method Investments
Ownership percentage	50.00%
800 Superior, LLC | VIE, Not primary beneficiary | Related Parties
Schedule of Equity Method Investments
Ownership percentage	50.00%
Equity investment in unconsolidated subsidiaries	$ 510		$ 816
Equity in earnings (losses)	$ (306)	$ (1,070)

Investments - Related Parties_3

Investments - Related Parties - East Ninth & Superior (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
East Ninth & Superior, LLC | AmTrust Financial Services, Inc.
Schedule of Equity Method Investments
Ownership percentage	50.00%
East Ninth & Superior, LLC | VIE, Not primary beneficiary | Related Parties
Schedule of Equity Method Investments
Ownership percentage	50.00%
Equity investment in unconsolidated subsidiaries	$ 4,322		$ 4,309
Equity in earnings (losses)	$ 13	$ 16
Eight Hundred Superior NMTC investment Fund II | AmTrust Financial Services, Inc.
Schedule of Equity Method Investments
Ownership percentage	24.50%
Eight Hundred Superior NMTC investment Fund II | Related Parties
Schedule of Equity Method Investments
Ownership percentage	24.50%

Investments - Related Parties_4

Investments - Related Parties - North Dearborn (Details) - North Dearborn Building Company, L.P. - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
AmTrust Financial Services, Inc.
Schedule of Equity Method Investments
Limited Partnership, Percentage Participation	45.00%
NA Advisors GP LLC
Schedule of Equity Method Investments
Limited Partnership, Percentage Participation	10.00%
Limited Partnership, Percentage of Profit Interest	10.00%
VIE, Not primary beneficiary | Related Parties
Schedule of Equity Method Investments
Ownership percentage	45.00%
Equity investment in unconsolidated subsidiaries	$ 6,186		$ 6,214
Equity in earnings (losses)	$ (28)	$ (9)

Investments - Related Parties_5

Investments - Related Parties - 4455 LBJ Freeway, LLC (Details) - 4455 LBJ Freeway, LLC - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
AmTrust Financial Services, Inc.
Schedule of Equity Method Investments
Limited Partnership, Percentage Participation	50.00%
Related Parties
Schedule of Equity Method Investments
Equity investment in unconsolidated subsidiaries	$ 816		$ 793
Equity in earnings (losses)	23	$ 2
Related Parties | 4455 LBJ Freeway, LLC
Schedule of Equity Method Investments
Rent expense	$ 555	$ 574
VIE, Not primary beneficiary | Related Parties
Schedule of Equity Method Investments
Ownership percentage	50.00%

Investments - Related Parties_6

Investments - Related Parties - Illinois Center Building, L.P. (Details) - Illinois Center Building, L.P. - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
ACP Re Group, Inc.
Schedule of Equity Method Investments
Limited Partnership, Percentage Participation	37.50%
ACP Re
Schedule of Equity Method Investments
Limited Partnership, Percentage Participation	15.00%
NA Advisors GP LLC
Schedule of Equity Method Investments
Limited Partnership, Percentage Participation	10.00%
Limited Partnership, Percentage of Profit Interest	10.00%
VIE, Not primary beneficiary | Related Parties
Schedule of Equity Method Investments
Ownership percentage	37.50%
Equity investment in unconsolidated subsidiaries	$ 44,353		$ 45,575
Equity in earnings (losses)	$ (1,222)	$ (1,109)

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	$ 3,635,347	$ 3,561,032
Equity securities, at fair value	10,285	10,949
Short-term investments	390,052	348,549
Other investments	305,971	306,276
Reciprocal Exchanges
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	299,282	297,083
Equity securities, at fair value	0	0
Short-term investments	19,632	17,328
NGHC, excluding Reciprocal Exchanges
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Equity securities, at fair value	10,285	10,949
Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	3,635,347	3,561,032
Equity securities, at fair value	10,285	10,949
Total	4,041,655	3,927,072
Recurring | Reciprocal Exchanges
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Total	318,914	314,411
Recurring | NGHC, excluding Reciprocal Exchanges
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Total	3,722,741	3,612,661
Level 1 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	88,599	103,068
Equity securities, at fair value	9,068	9,898
Total	487,719	461,515
Level 1 | Recurring | Reciprocal Exchanges
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Total	32,879	32,013
Level 1 | Recurring | NGHC, excluding Reciprocal Exchanges
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Total	454,840	429,502
Level 2 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	3,531,254	3,442,601
Equity securities, at fair value	0	0
Total	3,531,254	3,442,601
Level 2 | Recurring | Reciprocal Exchanges
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Total	286,035	282,398
Level 2 | Recurring | NGHC, excluding Reciprocal Exchanges
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Total	3,245,219	3,160,203
Level 3 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	15,494	15,363
Equity securities, at fair value	1,217	1,051
Total	22,682	22,956
Level 3 | Recurring | Reciprocal Exchanges
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Total	0	0
Level 3 | Recurring | NGHC, excluding Reciprocal Exchanges
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Total	22,682	22,956
U.S. Treasury
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	62,983	65,593
U.S. Treasury | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	62,983	65,593
U.S. Treasury | Level 1 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	62,983	65,593
U.S. Treasury | Level 2 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	0	0
U.S. Treasury | Level 3 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	0	0
Federal agencies
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	25,616	37,475
Federal agencies | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	25,616	37,475
Federal agencies | Level 1 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	25,616	37,475
Federal agencies | Level 2 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	0	0
Federal agencies | Level 3 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	0	0
States and political subdivision bonds
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	260,903	272,197
States and political subdivision bonds | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	260,903	272,197
States and political subdivision bonds | Level 1 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	0	0
States and political subdivision bonds | Level 2 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	257,243	268,601
States and political subdivision bonds | Level 3 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	3,660	3,596
Foreign government
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	145,218	152,366
Foreign government | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	145,218	152,366
Foreign government | Level 1 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	0	0
Foreign government | Level 2 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	145,218	152,366
Foreign government | Level 3 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	0	0
Corporate bonds
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	1,349,550	1,260,705
Corporate bonds | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	1,349,550	1,260,705
Corporate bonds | Level 1 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	0	0
Corporate bonds | Level 2 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	1,337,716	1,248,938
Corporate bonds | Level 3 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	11,834	11,767
Residential mortgage-backed securities
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	931,010	925,116
Residential mortgage-backed securities | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	931,010	925,116
Residential mortgage-backed securities | Level 1 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	0	0
Residential mortgage-backed securities | Level 2 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	931,010	925,116
Residential mortgage-backed securities | Level 3 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	0	0
Commercial mortgage-backed securities
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	557,072	544,975
Commercial mortgage-backed securities | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	557,072	544,975
Commercial mortgage-backed securities | Level 1 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	0	0
Commercial mortgage-backed securities | Level 2 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	557,072	544,975
Commercial mortgage-backed securities | Level 3 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	0	0
Asset-backed securities
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	62,086	61,147
Asset-backed securities | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	62,086	61,147
Asset-backed securities | Level 1 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	0	0
Asset-backed securities | Level 2 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	62,086	61,147
Asset-backed securities | Level 3 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	0	0
Structured securities
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	240,909	241,458
Structured securities | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	240,909	241,458
Structured securities | Level 1 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	0	0
Structured securities | Level 2 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	240,909	241,458
Structured securities | Level 3 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Debt securities, available-for-sale	0	0
Common stock
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Equity securities, at fair value	10,285	10,949
Common stock | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Equity securities, at fair value	10,285	10,949
Common stock | Level 1 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Equity securities, at fair value	9,068	9,898
Common stock | Level 2 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Equity securities, at fair value	0	0
Common stock | Level 3 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Equity securities, at fair value	1,217	1,051
Short-term investments | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Short-term investments	390,052	348,549
Short-term investments | Level 1 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Short-term investments	390,052	348,549
Short-term investments | Level 2 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Short-term investments	0	0
Short-term investments | Level 3 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Short-term investments	0	0
Other investments | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Other investments	5,971	6,542
Other investments | Level 1 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Other investments	0	0
Other investments | Level 2 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Other investments	0	0
Other investments | Level 3 | Recurring
Fair Value Assets Measured on Recurring and Nonrecurring Basis
Other investments	$ 5,971	$ 6,542

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Changes in Fair Value of Level 3 Financial Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Fair Value Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Balance as of	$ 22,956	$ 44,730
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Total gains (losses) included in net income	(405)	(380)
Total gains (losses) included in other comprehensive income	131	14
Purchases	0	0
Sales	0	(526)
Balance as of	22,682	43,838
Change in unrealized gains (losses) for the period included in net income for assets held at the end of the reporting period	(405)	(380)
Change in unrealized gains (losses) for the period included in other comprehensive income for assets held at the end of the reporting period	131
States and political subdivision bonds
Fair Value Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Balance as of	3,596	4,081
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Total gains (losses) included in net income	0	0
Total gains (losses) included in other comprehensive income	64	46
Purchases	0	0
Sales	0	0
Balance as of	3,660	4,127
Change in unrealized gains (losses) for the period included in net income for assets held at the end of the reporting period	0	0
Change in unrealized gains (losses) for the period included in other comprehensive income for assets held at the end of the reporting period	64
Corporate bonds
Fair Value Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Balance as of	11,767	24,545
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Total gains (losses) included in net income	0	0
Total gains (losses) included in other comprehensive income	67	(32)
Purchases	0	0
Sales	0	0
Balance as of	11,834	24,513
Change in unrealized gains (losses) for the period included in net income for assets held at the end of the reporting period	0	0
Change in unrealized gains (losses) for the period included in other comprehensive income for assets held at the end of the reporting period	67
Common Stock
Fair Value Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Balance as of	1,051	5,052
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Total gains (losses) included in net income	166	(1,186)
Total gains (losses) included in other comprehensive income	0	0
Purchases	0	0
Sales	0	0
Balance as of	1,217	3,866
Change in unrealized gains (losses) for the period included in net income for assets held at the end of the reporting period	166	(1,186)
Change in unrealized gains (losses) for the period included in other comprehensive income for assets held at the end of the reporting period	0
Preferred Stock
Fair Value Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Balance as of		270
Transfers into Level 3		0
Transfers out of Level 3		0
Total gains (losses) included in net income		12
Total gains (losses) included in other comprehensive income		0
Purchases		0
Sales		0
Balance as of		282
Change in unrealized gains (losses) for the period included in net income for assets held at the end of the reporting period		12
Other investments
Fair Value Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Balance as of	6,542	10,782
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Total gains (losses) included in net income	(571)	794
Total gains (losses) included in other comprehensive income	0	0
Purchases	0	0
Sales	0	(526)
Balance as of	5,971	11,050
Change in unrealized gains (losses) for the period included in net income for assets held at the end of the reporting period	(571)	$ 794
Change in unrealized gains (losses) for the period included in other comprehensive income for assets held at the end of the reporting period	$ 0

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Debt	$ 710,196	$ 705,795
Senior Notes | 7.625% Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Debt	96,863	96,842
Senior Notes | 7.625% Notes | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Fair value estimates of debt	102,000	90,400
Senior Notes | 6.75% Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Debt	346,600	346,439
Senior Notes | 6.75% Notes | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Fair value estimates of debt	357,879	353,756
Surplus Notes | Subordinated Debentures
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Debt	72,168	72,168
Surplus Notes | Subordinated Debentures | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Fair value estimates of debt	72,114	72,109
Line of Credit | Credit Agreement
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Debt	0	160,000
Line of Credit | Credit Agreement | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Fair value estimates of debt	0	163,222
Line of Credit | 2019 Credit Agreement
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Debt	160,000	0
Line of Credit | 2019 Credit Agreement | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Fair value estimates of debt	$ 168,964	$ 0

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Narrative (Details)	Mar. 31, 2019	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Percentage of investments priced by service	100.00%	100.00%

Deferred Acquisition Costs (Det

Deferred Acquisition Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Movement Analysis of Deferred Policy Acquisition Costs
Beginning of the period	$ 251,408	$ 216,389
Additions	171,080	145,072
Amortization	(154,311)	(127,861)
Change in DAC	16,769	17,211
End of the period	268,177	233,600
Reciprocal Exchanges
Movement Analysis of Deferred Policy Acquisition Costs
End of the period	20,305	21,635
NGHC, excluding Reciprocal Exchanges
Movement Analysis of Deferred Policy Acquisition Costs
End of the period	247,872	211,965
Property and Casualty
Movement Analysis of Deferred Policy Acquisition Costs
Beginning of the period	226,188	198,283
Additions	145,979	139,132
Amortization	(136,008)	(120,332)
Change in DAC	9,971	18,800
End of the period	236,159	217,083
Property and Casualty | Reciprocal Exchanges
Movement Analysis of Deferred Policy Acquisition Costs
End of the period	20,305	21,635
Property and Casualty | NGHC, excluding Reciprocal Exchanges
Movement Analysis of Deferred Policy Acquisition Costs
End of the period	215,854	195,448
Accident and Health
Movement Analysis of Deferred Policy Acquisition Costs
Beginning of the period	25,220	18,106
Additions	25,101	5,940
Amortization	(18,303)	(7,529)
Change in DAC	6,798	(1,589)
End of the period	32,018	16,517
Accident and Health | Reciprocal Exchanges
Movement Analysis of Deferred Policy Acquisition Costs
End of the period	0	0
Accident and Health | NGHC, excluding Reciprocal Exchanges
Movement Analysis of Deferred Policy Acquisition Costs
End of the period	$ 32,018	$ 16,517

Unpaid Losses and Loss Adjust_3

Unpaid Losses and Loss Adjustment Expense Reserves (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Liability for Claims and Claims Adjustment Expense
Unpaid losses and LAE, gross of related reinsurance recoverable at beginning of the period	$ 2,957,159	$ 2,663,557
Less: Reinsurance recoverable at beginning of the period	(1,285,142)	(1,129,743)
Net balance at beginning of the period	1,672,017	1,533,814
Current year	666,123	654,104
Prior year	(14,314)	(19,938)
Total incurred	651,809	634,166
Current year	(179,025)	(242,943)
Prior year	(497,348)	(371,573)
Total paid	(676,373)	(614,516)
Effect of foreign exchange rates	1,094	(1,679)
Net balance at end of the period	1,648,547	1,551,785
Plus: Reinsurance recoverable at end of the period	(1,221,776)	(1,127,132)
Gross balance at end of period	2,870,323	2,678,917
NGHC, excluding Reciprocal Exchanges
Liability for Claims and Claims Adjustment Expense
Unpaid losses and LAE, gross of related reinsurance recoverable at beginning of the period	2,778,689	2,520,204
Less: Reinsurance recoverable at beginning of the period	(1,207,163)	(1,077,335)
Net balance at beginning of the period	1,571,526	1,442,869
Current year	626,150	608,187
Prior year	(16,366)	(18,552)
Total incurred	609,784	589,635
Current year	(164,076)	(223,257)
Prior year	(475,870)	(354,118)
Total paid	(639,946)	(577,375)
Effect of foreign exchange rates	1,094	(1,679)
Net balance at end of the period	1,542,458	1,453,450
Plus: Reinsurance recoverable at end of the period	(1,131,843)	(1,066,671)
Gross balance at end of period	2,674,301	2,520,121
Reciprocal Exchanges
Liability for Claims and Claims Adjustment Expense
Unpaid losses and LAE, gross of related reinsurance recoverable at beginning of the period	178,470
Gross balance at end of period	196,022
Property and Casualty
Liability for Claims and Claims Adjustment Expense
Prior year	(3,462)	(16,555)
Property and Casualty | NGHC, excluding Reciprocal Exchanges
Liability for Claims and Claims Adjustment Expense
Unpaid losses and LAE, gross of related reinsurance recoverable at beginning of the period	2,507,409	2,270,551
Less: Reinsurance recoverable at beginning of the period	(1,182,588)	(1,067,495)
Net balance at beginning of the period	1,324,821	1,203,056
Current year	530,549	513,526
Prior year	(5,514)	(15,169)
Total incurred	525,035	498,357
Current year	(130,395)	(202,967)
Prior year	(422,560)	(306,126)
Total paid	(552,955)	(509,093)
Effect of foreign exchange rates	0	0
Net balance at end of the period	1,296,901	1,192,320
Plus: Reinsurance recoverable at end of the period	(1,103,114)	(1,058,106)
Gross balance at end of period	2,400,015	2,250,426
Property and Casualty | Reciprocal Exchanges
Liability for Claims and Claims Adjustment Expense
Unpaid losses and LAE, gross of related reinsurance recoverable at beginning of the period	178,470	143,353
Less: Reinsurance recoverable at beginning of the period	(77,979)	(52,408)
Net balance at beginning of the period	100,491	90,945
Current year	39,973	45,917
Prior year	2,052	(1,386)
Total incurred	42,025	44,531
Current year	(14,949)	(19,686)
Prior year	(21,478)	(17,455)
Total paid	(36,427)	(37,141)
Effect of foreign exchange rates	0	0
Net balance at end of the period	106,089	98,335
Plus: Reinsurance recoverable at end of the period	(89,933)	(60,461)
Gross balance at end of period	196,022	158,796
Accident and Health | NGHC, excluding Reciprocal Exchanges
Liability for Claims and Claims Adjustment Expense
Unpaid losses and LAE, gross of related reinsurance recoverable at beginning of the period	271,280	249,653
Less: Reinsurance recoverable at beginning of the period	(24,575)	(9,840)
Net balance at beginning of the period	246,705	239,813
Current year	95,601	94,661
Prior year	(10,852)	(3,383)
Total incurred	84,749	91,278
Current year	(33,681)	(20,290)
Prior year	(53,310)	(47,992)
Total paid	(86,991)	(68,282)
Effect of foreign exchange rates	1,094	(1,679)
Net balance at end of the period	245,557	261,130
Plus: Reinsurance recoverable at end of the period	(28,729)	(8,565)
Gross balance at end of period	$ 274,286	$ 269,695

Reinsurance - Effects of Reinsu

Reinsurance - Effects of Reinsurance (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Reinsurance Recoverables
Reinsurance recoverable on paid losses	$ 267,789		$ 326,596
Reinsurance recoverable on unpaid losses	1,221,776		1,285,142
Reinsurance recoverable	1,489,565		1,611,738
Reinsurance Liabilities
Unpaid Loss and LAE reserves, assumed	76,123		84,469
Unearned premiums, assumed	20,604		21,015
Prepaid reinsurance premiums	637,024		$ 665,674
Premiums:
Direct, Written	1,489,188	$ 1,413,877
Assumed premiums written	20,590	19,253
Gross premium written	1,509,778	1,433,130
Ceded premiums	(345,114)	(326,487)
Net premium written	1,164,664	1,106,643
Direct, Earned	1,315,705	1,191,327
Assumed, Earned	21,000	29,051
Premiums Earned, Gross	1,336,705	1,220,378
Ceded, Earned	(372,548)	(314,840)
Net earned premium	964,157	905,538
Loss and LAE expense:
Ceded Loss and LAE	209,322	197,317
Assumed Losses and LAE	$ 5,322	$ (1,321)

Reinsurance - Narrative (Detail

Reinsurance - Narrative (Details) - USD ($) $ in Thousands	May 01, 2019	Jul. 01, 2018	May 01, 2018	Jul. 01, 2017	Mar. 31, 2019	Dec. 31, 2019
Personal Auto
Reinsurance Retention Policy
Reinsurance - Percentage of Business Ceded				15.00%	7.00%
Reinsurance percentage of ceding commission				31.20%
Liability of the Reinsurer per Risk				$ 5,000
Liability of the Reinsurer per Event				$ 70,000
Homeowners
Reinsurance Retention Policy
Reinsurance - Percentage of Business Ceded			42.00%	29.60%
Reinsurance percentage of ceding commission			38.00%	42.50%
Liability of the Reinsurer per Risk				$ 5,000
Liability of the Reinsurer per Event				$ 70,000
Reinsurance - Percentage of Business Ceded, Additional			12.40%
Property Catastrophe Program
Reinsurance Retention Policy
Amount of coverage in excess of retention			$ 575,000
Retention amount			$ 70,000
Casualty Program
Reinsurance Retention Policy
Amount of coverage in excess of retention		$ 35,000
Retention amount		5,000
Minimum | Personal Auto
Reinsurance Retention Policy
Reinsurance percentage of ceding commission				29.60%
Loss Ratio				63.40%
Maximum | Personal Auto
Reinsurance Retention Policy
Reinsurance percentage of ceding commission				32.80%
Loss Ratio				66.60%
Reciprocal Exchanges | Property Catastrophe Program
Reinsurance Retention Policy
Amount of coverage in excess of retention		475,000		$ 375,000
Retention amount		$ 20,000		$ 20,000
Subsequent Event | Property Catastrophe Program
Reinsurance Retention Policy
Amount of coverage in excess of retention	$ 650,000
Subsequent Event | Minimum | Personal Auto
Reinsurance Retention Policy
Reinsurance percentage of ceding commission						5.00%
Subsequent Event | Maximum | Personal Auto
Reinsurance Retention Policy
Reinsurance percentage of ceding commission						30.00%
First Event | Subsequent Event | Property Catastrophe Program
Reinsurance Retention Policy
Retention amount	70,000
Second Event | Subsequent Event | Property Catastrophe Program
Reinsurance Retention Policy
Retention amount	$ 50,000

Debt - Debt Instruments (Detail

Debt - Debt Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Debt Instrument
Notes Payable	$ 710,196		$ 705,795
Finance lease liabilities	20,568		14,824
Unamortized debt issuance costs and unamortized discount	$ (6,537)		(6,719)
Senior Notes | 6.75% Notes
Debt Instrument
Interest rate on debt	6.75%
Notes Payable	$ 350,000		350,000
Senior Notes | 7.625% Notes
Debt Instrument
Interest rate on debt	7.625%
Notes Payable	$ 100,000		100,000
Surplus Notes | Subordinated Debentures I
Debt Instrument
Basis Spread on Variable Rate	3.40%
Notes Payable	$ 41,238		41,238
Surplus Notes | Subordinated Debentures I | LIBOR
Debt Instrument
LIBOR	LIBOR
Surplus Notes | Subordinated Debentures II
Debt Instrument
Basis Spread on Variable Rate	4.25%
Notes Payable	$ 30,930		30,930
Surplus Notes | Subordinated Debentures II | LIBOR
Debt Instrument
LIBOR	LIBOR
Other | Other
Debt Instrument
Interest rate on debt	3.50%
Notes Payable	$ 13,997		15,522
Credit Agreement
Debt Instrument
Notes Payable	0		160,000
2019 Credit Agreement
Debt Instrument
Notes Payable	$ 160,000		$ 0
JPMorgan Chase, N.A. | Credit Agreement
Debt Instrument
Basis Spread on Variable Rate		2.00%
Interest rate on Credit Agreement			4.58%
JPMorgan Chase, N.A. | Credit Agreement | LIBOR
Debt Instrument
LIBOR		LIBOR
JPMorgan Chase, N.A. | 2019 Credit Agreement
Debt Instrument
Basis Spread on Variable Rate	1.75%
Interest rate on Credit Agreement	4.27%
JPMorgan Chase, N.A. | 2019 Credit Agreement | LIBOR
Debt Instrument
LIBOR	LIBO
Basis Spread on Variable Rate	1.00%

Debt - Interest Expense (Detail

Debt - Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Debt Instrument
Interest Expense, Debt	$ 12,999	$ 11,154
Finance lease liabilities
Debt Instrument
Interest Expense, Debt	294	164
Other
Debt Instrument
Interest Expense, Debt	1,990	508
Senior Notes | 6.75% Notes
Debt Instrument
Interest Expense, Debt	5,906	5,906
Senior Notes | 7.625% Notes
Debt Instrument
Interest Expense, Debt	1,906	1,906
Surplus Notes | Subordinated Debentures
Debt Instrument
Interest Expense, Debt	1,163	986
Credit Agreement | JPMorgan Chase, N.A.
Debt Instrument
Interest Expense, Debt	1,211	1,684
2019 Credit Agreement | JPMorgan Chase, N.A.
Debt Instrument
Interest Expense, Debt	$ 529	$ 0

Debt - Senior Notes (Details)

Debt - Senior Notes (Details) - Senior Notes	Mar. 31, 2019
6.75% Notes
Debt Instrument
Interest rate on debt	6.75%
7.625% Notes
Debt Instrument
Interest rate on debt	7.625%

Debt - Subordinated Debentures

Debt - Subordinated Debentures (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument
Notes Payable	$ 710,196	$ 705,795
Surplus Notes | Subordinated Debentures I
Debt Instrument
Notes Payable	$ 41,238	41,238
Basis Spread on Variable Rate	3.40%
Surplus Notes | Subordinated Debentures II
Debt Instrument
Notes Payable	$ 30,930	$ 30,930
Basis Spread on Variable Rate	4.25%
Surplus Notes | Subordinated Debentures
Debt Instrument
Debt Instrument, Redemption Price, Percentage	100.00%

Debt - Credit Agreement (Detail

Debt - Credit Agreement (Details) - 2019 Credit Agreement - JPMorgan Chase, N.A. $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Debt Instrument
Line of Credit Facility, Maximum Amount Outstanding During Period	$ 340,000
Basis Spread on Variable Rate	1.75%
Letter Of Credit Fronting Fee	0.125%
Line of Credit Facility, Leverage Ratio	0.225%
LIBOR
Debt Instrument
federal funds	LIBO
Basis Spread on Variable Rate	1.00%
Federal Funds Purchased
Debt Instrument
federal funds	federal funds
Alternate Base Rate Or LIBOR
Debt Instrument
Basis Spread on Variable Rate	0.50%
Minimum
Debt Instrument
Line of Credit Facility, Current Borrowing Capacity	$ 150,000
Line of Credit Facility, Commitment Fee Percentage	0.175%
Maximum
Debt Instrument
Line of Credit Facility, Current Borrowing Capacity	$ 50,000
Line of Credit Facility, Commitment Fee Percentage	0.25%

Debt - Debt Maturities (Details

Debt - Debt Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument
2019 (remaining nine months)	$ 9,521
2020	11,984
2021	6,313
2022	1,756
2023	161,192
2024	351,242
Thereafter	174,725
Total principal amount of debt	716,733
Unamortized debt issuance costs and unamortized discount	(6,537)	$ (6,719)
Carrying amount of debt	710,196	705,795
Senior Notes | 6.75% Notes
Debt Instrument
2019 (remaining nine months)	0
2020	0
2021	0
2022	0
2023	0
2024	350,000
Thereafter	0
Total principal amount of debt	350,000
Carrying amount of debt	346,600	346,439
Senior Notes | 7.625% Notes
Debt Instrument
2019 (remaining nine months)	0
2020	0
2021	0
2022	0
2023	0
2024	0
Thereafter	100,000
Total principal amount of debt	100,000
Carrying amount of debt	96,863	$ 96,842
Surplus Notes | Subordinated Debentures I
Debt Instrument
2019 (remaining nine months)	0
2020	0
2021	0
2022	0
2023	0
2024	0
Thereafter	41,238
Total principal amount of debt	41,238
Surplus Notes | Subordinated Debentures II
Debt Instrument
2019 (remaining nine months)	0
2020	0
2021	0
2022	0
2023	0
2024	0
Thereafter	30,930
Total principal amount of debt	30,930
Finance lease liabilities | Finance lease liabilities
Debt Instrument
2019 (remaining nine months)	4,866
2020	5,585
2021	3,370
2022	1,756
2023	1,192
2024	1,242
Thereafter	2,557
Total principal amount of debt	20,568
Other | Other
Debt Instrument
2019 (remaining nine months)	4,655
2020	6,399
2021	2,943
2022	0
2023	0
2024	0
Thereafter	0
Total principal amount of debt	13,997
JPMorgan Chase, N.A. | 2019 Credit Agreement
Debt Instrument
2019 (remaining nine months)	0
2020	0
2021	0
2022	0
2023	160,000
2024	0
Thereafter	0
Total principal amount of debt	$ 160,000

Debt - Covenants and Compliance

Debt - Covenants and Compliance (Details) - Senior Notes	Mar. 31, 2019
Indenture Excess Leverage Ratio | Minimum
Debt Instrument
Ratio of Indebtedness to Net Capital	0.35
Indenture Excess Leverage Ratio | Maximum
Debt Instrument
Ratio of Indebtedness to Net Capital	1
6.75% Notes
Debt Instrument
Interest rate on debt	6.75%
7.625% Notes
Debt Instrument
Interest rate on debt	7.625%

Leases - Narrative (Details)

Leases - Narrative (Details)	Mar. 31, 2019
Minimum
Lessee, Lease, Description
Finance Lease, Renewal Term	1 year
Operating Lease, Renewal Term	1 year
Maximum
Lessee, Lease, Description
Finance Lease, Renewal Term	5 years
Operating Lease, Renewal Term	5 years

Leases - Lease Assets and Liabi

Leases - Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Lessee, Lease, Description
Finance lease asset	$ 23,265
Operating	104,089
Total lease assets	127,354
Finance lease liabilities	20,568	$ 14,824
Operating	112,907
Total lease liabilities	133,475
Buildings and improvements
Lessee, Lease, Description
Finance lease asset	11,296
Accumulated amortization	995
Vehicle
Lessee, Lease, Description
Finance lease asset	6,209
Accumulated amortization	4,709
Hardware, software and other equipment
Lessee, Lease, Description
Finance lease asset	5,760
Accumulated amortization	649
Operating lease assets
Lessee, Lease, Description
Accumulated amortization	$ 6,254

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Finance Lease Cost
Amortization of leased assets	$ 1,758
Interest on lease liabilities	294
Finance lease cost	2,052
Operating lease cost	$ 8,818

Leases - Maturity of Lease Liab

Leases - Maturity of Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Operating Lease Liabilities, Payments Due
2019 (remaining nine months)	$ 23,189
2020	25,770
2021	19,791
2022	15,925
2023	13,495
2024	10,915
Thereafter	25,675
Total lease payments	134,760
Less: Interest	(21,853)
Present value of lease liabilities	112,907
Finance Lease Liabilities, Payments Due
2019 (remaining nine months)	5,508
2020	6,230
2021	3,808
2022	2,083
2023	1,446
2024	1,428
Thereafter	2,847
Total lease payments	23,350
Less: Interest	(2,782)
Present value of lease liabilities	20,568	$ 14,824
Lease Liabilities, Payments Due
2019 (remaining nine months)	28,697
2020	32,000
2021	23,599
2022	18,008
2023	14,941
2024	12,343
Thereafter	28,522
Total lease payments	$ 158,110

Leases - Lease Term and Discoun

Leases - Lease Term and Discount Rate (Details)	Mar. 31, 2019
Lessee, Lease, Description
Operating Lease, Weighted Average Remaining Lease Term	5 years 9 months 18 days
Operating Lease, Weighted Average Discount Rate, Percent	5.90%
Buildings and improvements
Lessee, Lease, Description
Finance Lease, Weighted Average Remaining Lease Term	7 years 8 months 12 days
Finance Lease, Weighted Average Discount Rate, Percent	5.80%
Vehicle
Lessee, Lease, Description
Finance Lease, Weighted Average Remaining Lease Term	2 years 2 months 12 days
Finance Lease, Weighted Average Discount Rate, Percent	4.20%
Hardware, software and other equipment
Lessee, Lease, Description
Finance Lease, Weighted Average Remaining Lease Term	1 year 6 months
Finance Lease, Weighted Average Discount Rate, Percent	4.20%

Leases - Cash Flow Lease Inform

Leases - Cash Flow Lease Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Leases [Abstract]
Operating cash flows from finance leases	$ 294
Financing cash flows from finance leases	1,509
Operating cash flows from operating leases	6,020
Leased assets obtained in exchange for new finance lease liabilities	$ 7,253

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Thousands	Dec. 31, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
Estimated Litigation Liability	$ 10,000

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Effective Income Tax Rate, Percent	20.90%	22.40%

Share-Based Compensation - Stoc

Share-Based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 29, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures
Share Price			$ 23.73
Employee stock options
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding
Outstanding at beginning of period	3,184,352
Exercised	(25,216)
Outstanding at end of period	3,159,136
Exercisable at end of period	3,159,136
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price
Outstanding at beginning of period	$ 9.53
Exercised	3.67
Outstanding at end of period	9.58
Exercisable at end of period	$ 9.58
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures
Weighted average remaining contractual term for option awards outstanding	3 years 9 months 18 days
Intrinsic value of the underlying stock exceeds the exercise price of options outstanding	$ 44,718
Weighted average remaining contractual term for vested portions of options outstanding and currently exercisable	3 years 9 months
Intrinsic value of the underlying shares reserved for issuance and exercise price of vested portions of options outstanding and currently exercisable	$ 44,718
Granted in period	0
Forfeitures in period	0
Expirations in period	0
Intrinsic value of stock options exercised	$ 526	$ 1,502
Fair value of stock options vested	$ 37	$ 221

Share-Based Compensation - RSU

Share-Based Compensation - RSU Activity (Details) - RSUs - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
RSUs
Non-vested at beginning of period	938,795
Granted	497,741
Vested	(267,060)
Forfeited	(5,881)
Non-vested at end of period	1,163,595
Weighted Average Grant Date Fair Value (in usd per share)
Non-vested at beginning of period	$ 22.28
Granted	25.60	$ 20.15
Vested	21.70
Forfeited	24.44
Non-vested at end of period	$ 23.82
RSUs Additional Disclosures
Fair value of RSU's vested	$ 5,796	$ 3,882

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)planshares	Mar. 31, 2018USD ($)
Share-based Compensation Arrangement by Share-based Payment Award
Number of equity incentive plans | plan	2
Stock-compensation expense | $	$ 2,622	$ 2,130
Unrecognized compensation cost | $	$ 24,051
Future period share-based compensation expense period of recognition (in years)	1 year 8 months 12 days
Common stock
Share-based Compensation Arrangement by Share-based Payment Award
Number of shares authorized | shares	7,435,000
Number of shares available | shares	29,451

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share, Diluted
Net income attributable to NGHC	$ 91,758	$ 68,208
Dividends on preferred stock	(7,875)	(7,875)
Numerator for basic EPS	83,883	60,333
Preferred stock dividends - convertible	0	0
Numerator for diluted EPS - after assumed conversions	$ 83,883	$ 60,333
Denominator for basic EPS - weighted-average shares outstanding	113,014,711	106,758,641
Convertible preferred stock	789,473	0
Dilutive potential common shares	3,060,515	2,192,343
Denominator for diluted EPS - weighted-average shares outstanding and assumed conversions	116,075,226	108,950,984
Earnings Per Share, Basic
Basic EPS	$ 0.74	$ 0.57
Earnings Per Share, Diluted
Diluted EPS	$ 0.72	$ 0.55
Employee stock options
Earnings Per Share, Diluted
Effect of dilutive securities	1,939,844	1,922,885
RSUs
Earnings Per Share, Diluted
Effect of dilutive securities	331,198	269,458
Preferred stock dividends - nonconvertible
Earnings Per Share, Diluted
Dividends on preferred stock	$ (7,875)	$ (7,875)
Preferred stock dividends - convertible
Earnings Per Share, Diluted
Dividends on preferred stock	$ 0	$ 0

Related Party Transactions - As

Related Party Transactions - Asset Purchase and Master Services Agreements (Details) - Related Parties - USD ($) $ in Thousands	Sep. 13, 2017	Mar. 31, 2019	Mar. 31, 2018
Purchase Commitment
Related Party Transaction
Payments for Software	$ 200,000
Master Service Agreement
Related Party Transaction
Expenses from transactions with related party		$ 425	$ 3,756

Related Party Transactions - NG

Related Party Transactions - NGHC Quota Share Agreement (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Related Party Transaction
Restricted investments to trusts in certain reinsurance transactions	$ 66,894		$ 70,470
Related Parties | ACP Re
Related Party Transaction
Restricted investments to trusts in certain reinsurance transactions	2,397		3,796
Related Parties | Maiden
Related Party Transaction
Restricted investments to trusts in certain reinsurance transactions	$ 8,034		8,644
Related Parties | Reinsurance | ACP Re, Maiden and AmTrust
Related Party Transaction
Percentage of business ceded	50.00%
Related Parties | Reinsurance Recoverable on Unpaid Losses | ACP Re, Maiden and AmTrust
Related Party Transaction
Due from (to) reinsurance treaties	$ 6,136		$ 7,425
Amounts of transaction	$ 456	$ 97

Related Party Transactions - Cr

Related Party Transactions - Credit Agreement with ACP Re (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2014
Related Party Transaction
Other investments	$ 305,971		$ 306,276
ACP Re
Related Party Transaction
Notes Receivable, Related Parties				$ 125,000
Related Parties
Related Party Transaction
Other investments	233,555		233,723
Related Parties | ACP Re
Related Party Transaction
Notes Receivable, Related Parties	$ 250,000
Maintenance Covenant, minimum collateral interest as percent of value of outstanding loan balance	115.00%
Minimum percent of change in control included as events of default	50.00%
Related Parties | Loans
Related Party Transaction
Notes Receivable, Related Parties	$ 125,000
Related Parties | Loans | ACP Re
Related Party Transaction
Interest rate on debt	3.70%
Maximum percent of interest that may be paid in kind	1.20%
Other investments	$ 128,458		$ 127,692
Interest Income, Related Party	$ 1,188	$ 1,174

Related Party Transactions - Ot

Related Party Transactions - Other Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Related Parties | Lease Agreement 59 Maiden Lane
Related Party Transaction
Expenses from transactions with related party	$ 207	$ 207
Related Parties | Lease Agreement 30 North LaSalle
Related Party Transaction
Expenses from transactions with related party	76	75
Chief Executive Officer
Related Party Transaction
Aircraft Rental and Landing Fees	$ 15	$ 40

Segment Information - Results o

Segment Information - Results of Operations of the Business Segments (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)segment	Mar. 31, 2018USD ($)
Segment Reporting [Abstract]
Number of business segments | segment	2
Segment Reporting Information
Gross premium written	$ 1,509,778	$ 1,433,130
Ceded premiums	(345,114)	(326,487)
Net premium written	1,164,664	1,106,643
Change in unearned premium	(200,507)	(201,105)
Net earned premium	964,157	905,538
Ceding commission income	69,534	44,468
Service and fee income	165,507	142,122
Total underwriting revenues	1,199,198	1,092,128
Loss and loss adjustment expense	651,809	634,166
Acquisition costs and other underwriting expenses	211,918	168,710
General and administrative expenses	248,094	231,005
Total underwriting expenses	1,111,821	1,033,881
Underwriting income	87,377	58,247
Net investment income	33,445	25,011
Net gain on investments	22	118
Interest expense	(12,999)	(11,154)
Provision for income taxes	(22,506)	(16,202)
Net (income) loss attributable to non-controlling interest	6,419	12,188
Net income attributable to NGHC	91,758	68,208
Property and Casualty
Segment Reporting Information
Gross premium written	1,251,234	1,199,354
Ceded premiums	(286,751)	(316,064)
Net premium written	964,483	883,290
Change in unearned premium	(161,906)	(131,628)
Net earned premium	802,577	751,662
Ceding commission income	66,943	44,210
Service and fee income	104,495	96,935
Total underwriting revenues	974,015	892,807
Loss and loss adjustment expense	567,060	542,888
Acquisition costs and other underwriting expenses	154,070	125,102
General and administrative expenses	189,456	180,397
Total underwriting expenses	910,586	848,387
Underwriting income	63,429	44,420
Net investment income	0	0
Net gain on investments	0	0
Interest expense	0	0
Provision for income taxes	0	0
Net (income) loss attributable to non-controlling interest	0	0
Net income attributable to NGHC	63,429	44,420
Accident and Health
Segment Reporting Information
Gross premium written	258,544	233,776
Ceded premiums	(58,363)	(10,423)
Net premium written	200,181	223,353
Change in unearned premium	(38,601)	(69,477)
Net earned premium	161,580	153,876
Ceding commission income	2,591	258
Service and fee income	61,012	45,187
Total underwriting revenues	225,183	199,321
Loss and loss adjustment expense	84,749	91,278
Acquisition costs and other underwriting expenses	57,848	43,608
General and administrative expenses	58,638	50,608
Total underwriting expenses	201,235	185,494
Underwriting income	23,948	13,827
Net investment income	0	0
Net gain on investments	0	0
Interest expense	0	0
Provision for income taxes	0	0
Net (income) loss attributable to non-controlling interest	0	0
Net income attributable to NGHC	23,948	13,827
Corporate and Other
Segment Reporting Information
Gross premium written	0	0
Ceded premiums	0	0
Net premium written	0	0
Change in unearned premium	0	0
Net earned premium	0	0
Ceding commission income	0	0
Service and fee income	0	0
Total underwriting revenues	0	0
Loss and loss adjustment expense	0	0
Acquisition costs and other underwriting expenses	0	0
General and administrative expenses	0	0
Total underwriting expenses	0	0
Underwriting income	0	0
Net investment income	33,445	25,011
Net gain on investments	22	118
Interest expense	(12,999)	(11,154)
Provision for income taxes	(22,506)	(16,202)
Net (income) loss attributable to non-controlling interest	6,419	12,188
Net income attributable to NGHC	$ 4,381	$ 9,961

Segment Information - Long Live

Segment Information - Long Lived Assets and Total Assets of Business Segments (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Segment Reporting Information
Premiums and other receivables, net	$ 1,608,251	$ 1,399,812
Deferred acquisition costs	268,177	251,408
Reinsurance recoverable	1,489,565	1,611,738
Prepaid reinsurance premiums	637,024	665,674
Intangible assets, net and Goodwill	552,995	560,120
Prepaid and other assets	73,997	154,958
Corporate and other assets	5,001,558	4,795,570
Total assets	9,631,567	9,439,280
Property and Casualty
Segment Reporting Information
Premiums and other receivables, net	1,388,282	1,245,530
Deferred acquisition costs	236,159	226,188
Reinsurance recoverable	1,457,778	1,585,008
Prepaid reinsurance premiums	602,498	665,660
Intangible assets, net and Goodwill	438,009	443,163
Prepaid and other assets	22,660	20,941
Corporate and other assets	0	0
Total assets	4,145,386	4,186,490
Accident and Health
Segment Reporting Information
Premiums and other receivables, net	216,278	153,896
Deferred acquisition costs	32,018	25,220
Reinsurance recoverable	31,787	26,730
Prepaid reinsurance premiums	34,526	14
Intangible assets, net and Goodwill	114,986	116,957
Prepaid and other assets	25,196	22,472
Corporate and other assets	0	0
Total assets	454,791	345,289
Corporate and Other
Segment Reporting Information
Premiums and other receivables, net	3,691	386
Deferred acquisition costs	0	0
Reinsurance recoverable	0	0
Prepaid reinsurance premiums	0	0
Intangible assets, net and Goodwill	0	0
Prepaid and other assets	26,141	111,545
Corporate and other assets	5,001,558	4,795,570
Total assets	$ 5,031,390	$ 4,907,501

Segment Information - Schedule

Segment Information - Schedule of Revenue by Geographical Location (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information
Gross premium written	$ 1,509,778	$ 1,433,130
Net premium written	1,164,664	1,106,643
Net earned premium	964,157	905,538
Reciprocal Exchanges
Segment Reporting Information
Gross premium written	105,569	97,689
Net premium written	48,955	50,578
Net earned premium	45,658	46,055
NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Gross premium written	1,404,209	1,335,441
Net premium written	1,115,709	1,056,065
Net earned premium	918,499	859,483
North America
Segment Reporting Information
Gross premium written	1,400,363	1,330,461
Net premium written	1,102,556	1,003,974
Net earned premium	938,775	871,167
North America | Reciprocal Exchanges
Segment Reporting Information
Gross premium written	105,569	97,689
Net premium written	48,955	50,578
Net earned premium	45,658	46,055
North America | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Gross premium written	1,294,794	1,232,772
Net premium written	1,053,601	953,396
Net earned premium	893,117	825,112
Europe
Segment Reporting Information
Gross premium written	109,415	102,669
Net premium written	62,108	102,669
Net earned premium	25,382	34,371
Europe | Reciprocal Exchanges
Segment Reporting Information
Gross premium written	0	0
Net premium written	0	0
Net earned premium	0	0
Europe | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Gross premium written	109,415	102,669
Net premium written	62,108	102,669
Net earned premium	$ 25,382	$ 34,371

Segment Information - Service a

Segment Information - Service and Fee Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenue from External Customer
Service and fee income	$ 165,507	$ 142,122
Reciprocal Exchanges
Revenue from External Customer
Service and fee income	1,370	2,446
NGHC, excluding Reciprocal Exchanges
Revenue from External Customer
Service and fee income	164,137	139,676
Property and Casualty
Revenue from External Customer
Service and fee income	104,495	96,935
Property and Casualty | Reciprocal Exchanges
Revenue from External Customer
Service and fee income	1,370	2,446
Property and Casualty | NGHC, excluding Reciprocal Exchanges
Revenue from External Customer
Service and fee income	103,125	94,489
Accident and Health
Revenue from External Customer
Service and fee income	61,012	45,187
Accident and Health | Reciprocal Exchanges
Revenue from External Customer
Service and fee income	0	0
Accident and Health | NGHC, excluding Reciprocal Exchanges
Revenue from External Customer
Service and fee income	61,012	45,187
Commission revenue
Revenue from External Customer
Service and fee income	51,981	39,233
Commission revenue | Property and Casualty
Revenue from External Customer
Service and fee income	27,210	21,709
Commission revenue | Accident and Health
Revenue from External Customer
Service and fee income	24,771	17,524
Finance and processing fees
Revenue from External Customer
Service and fee income	34,460	33,315
Finance and processing fees | Property and Casualty
Revenue from External Customer
Service and fee income	32,436	32,060
Finance and processing fees | Accident and Health
Revenue from External Customer
Service and fee income	2,024	1,255
Installment fees
Revenue from External Customer
Service and fee income	24,170	21,302
Installment fees | Property and Casualty
Revenue from External Customer
Service and fee income	24,170	21,302
Installment fees | Accident and Health
Revenue from External Customer
Service and fee income	0	0
Group health administrative fees
Revenue from External Customer
Service and fee income	23,505	19,291
Group health administrative fees | Property and Casualty
Revenue from External Customer
Service and fee income	0	0
Group health administrative fees | Accident and Health
Revenue from External Customer
Service and fee income	23,505	19,291
Late payment fees
Revenue from External Customer
Service and fee income	8,380	7,583
Late payment fees | Property and Casualty
Revenue from External Customer
Service and fee income	8,293	7,558
Late payment fees | Accident and Health
Revenue from External Customer
Service and fee income	87	25
Other service and fee income
Revenue from External Customer
Service and fee income	23,011	21,398
Other service and fee income | Property and Casualty
Revenue from External Customer
Service and fee income	12,386	14,306
Other service and fee income | Accident and Health
Revenue from External Customer
Service and fee income	$ 10,625	$ 7,092

Segment Information - Gross Pre

Segment Information - Gross Premium Written (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information
Gross premium written	$ 1,509,778	$ 1,433,130
Reciprocal Exchanges
Segment Reporting Information
Gross premium written	105,569	97,689
NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Gross premium written	1,404,209	1,335,441
Property and Casualty
Segment Reporting Information
Gross premium written	1,251,234	1,199,354
Property and Casualty | Reciprocal Exchanges
Segment Reporting Information
Gross premium written	105,569	97,689
Property and Casualty | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Gross premium written	1,145,665	1,101,665
Property and Casualty | Personal Auto | Reciprocal Exchanges
Segment Reporting Information
Gross premium written	36,862	34,297
Property and Casualty | Personal Auto | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Gross premium written	766,681	724,645
Property and Casualty | Homeowners | Reciprocal Exchanges
Segment Reporting Information
Gross premium written	67,800	62,521
Property and Casualty | Homeowners | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Gross premium written	152,042	140,253
Property and Casualty | RV/Packaged | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Gross premium written	51,851	49,464
Property and Casualty | Small Business Auto | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Gross premium written	85,878	86,244
Property and Casualty | Lender-placed insurance | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Gross premium written	75,938	84,934
Property and Casualty | Other | Reciprocal Exchanges
Segment Reporting Information
Gross premium written	907	871
Property and Casualty | Other | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Gross premium written	13,275	16,125
Accident and Health
Segment Reporting Information
Gross premium written	258,544	233,776
Accident and Health | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Gross premium written	258,544	233,776
Accident and Health | Group | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Gross premium written	64,938	56,060
Accident and Health | Individual | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Gross premium written	84,192	75,048
Accident and Health | International | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Gross premium written	$ 109,414	$ 102,668

Segment Information - Net Premi

Segment Information - Net Premium Written (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information
Net premium written	$ 1,164,664	$ 1,106,643
Reciprocal Exchanges
Segment Reporting Information
Net premium written	48,955	50,578
NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Net premium written	1,115,709	1,056,065
Property and Casualty
Segment Reporting Information
Net premium written	964,483	883,290
Property and Casualty | Reciprocal Exchanges
Segment Reporting Information
Net premium written	48,955	50,578
Property and Casualty | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Net premium written	915,528	832,712
Property and Casualty | Personal Auto | Reciprocal Exchanges
Segment Reporting Information
Net premium written	15,645	13,495
Property and Casualty | Personal Auto | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Net premium written	658,920	553,997
Property and Casualty | Homeowners | Reciprocal Exchanges
Segment Reporting Information
Net premium written	33,016	36,808
Property and Casualty | Homeowners | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Net premium written	85,245	92,596
Property and Casualty | RV/Packaged | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Net premium written	51,597	49,189
Property and Casualty | Small Business Auto | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Net premium written	74,186	64,727
Property and Casualty | Lender-placed insurance | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Net premium written	42,070	63,214
Property and Casualty | Other | Reciprocal Exchanges
Segment Reporting Information
Net premium written	294	275
Property and Casualty | Other | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Net premium written	3,510	8,989
Accident and Health
Segment Reporting Information
Net premium written	200,181	223,353
Accident and Health | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Net premium written	200,181	223,353
Accident and Health | Group | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Net premium written	53,950	45,637
Accident and Health | Individual | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Net premium written	84,123	75,048
Accident and Health | International | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Net premium written	$ 62,108	$ 102,668

Segment Information - Net Earne

Segment Information - Net Earned Premium (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information
Net earned premium	$ 964,157	$ 905,538
Service and fee income	165,507	142,122
Ceding commission income	69,534	44,468
Reciprocal Exchanges
Segment Reporting Information
Net earned premium	45,658	46,055
NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Net earned premium	918,499	859,483
Property and Casualty
Segment Reporting Information
Net earned premium	802,577	751,662
Service and fee income	104,495	96,935
Ceding commission income	66,943	44,210
Property and Casualty | Reciprocal Exchanges
Segment Reporting Information
Net earned premium	45,658	46,055
Service and fee income	1,370	2,446
Ceding commission income	18,534	11,510
Property and Casualty | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Net earned premium	756,919	705,607
Service and fee income	103,125	94,489
Ceding commission income	48,409	32,700
Property and Casualty | Personal Auto | Reciprocal Exchanges
Segment Reporting Information
Net earned premium	15,861	12,997
Property and Casualty | Personal Auto | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Net earned premium	510,554	454,216
Property and Casualty | Homeowners | Reciprocal Exchanges
Segment Reporting Information
Net earned premium	29,491	32,771
Property and Casualty | Homeowners | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Net earned premium	84,058	82,195
Property and Casualty | RV/Packaged | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Net earned premium	50,305	45,689
Property and Casualty | Small Business Auto | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Net earned premium	67,633	58,562
Property and Casualty | Lender-placed insurance | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Net earned premium	41,718	60,469
Property and Casualty | Other | Reciprocal Exchanges
Segment Reporting Information
Net earned premium	306	287
Property and Casualty | Other | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Net earned premium	2,651	4,476
Accident and Health
Segment Reporting Information
Net earned premium	161,580	153,876
Service and fee income	61,012	45,187
Ceding commission income	2,591	258
Accident and Health | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Net earned premium	161,580	153,876
Service and fee income	61,012	45,187
Ceding commission income	2,591	258
Accident and Health | Group | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Net earned premium	53,963	45,639
Service and fee income	30,374	24,814
Accident and Health | Individual | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Net earned premium	82,235	73,866
Service and fee income	2,136	1,297
Accident and Health | International | NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Net earned premium	$ 25,382	$ 34,371

Segment Information - Fee Incom

Segment Information - Fee Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information
Service and fee income	$ 165,507	$ 142,122
Ceding commission income	69,534	44,468
Fee Income	235,041	186,590
Property and Casualty
Segment Reporting Information
Service and fee income	104,495	96,935
Ceding commission income	66,943	44,210
Accident and Health
Segment Reporting Information
Service and fee income	61,012	45,187
Ceding commission income	2,591	258
Reciprocal Exchanges | Property and Casualty
Segment Reporting Information
Service and fee income	1,370	2,446
Ceding commission income	18,534	11,510
Fee Income	19,904	13,956
NGHC, excluding Reciprocal Exchanges
Segment Reporting Information
Fee Income	215,137	172,634
NGHC, excluding Reciprocal Exchanges | Property and Casualty
Segment Reporting Information
Service and fee income	103,125	94,489
Ceding commission income	48,409	32,700
Fee Income	151,534	127,189
NGHC, excluding Reciprocal Exchanges | Accident and Health
Segment Reporting Information
Service and fee income	61,012	45,187
Ceding commission income	2,591	258
Fee Income	63,603	45,445
Group | NGHC, excluding Reciprocal Exchanges | Accident and Health
Segment Reporting Information
Service and fee income	30,374	24,814
Individual | NGHC, excluding Reciprocal Exchanges | Accident and Health
Segment Reporting Information
Service and fee income	2,136	1,297
Third Party Fee | NGHC, excluding Reciprocal Exchanges | Accident and Health
Segment Reporting Information
Service and fee income	$ 28,502	$ 19,076