Heritage Insurance (HRTG) 10-Q 10 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 05, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	HRTG
Entity Registrant Name	HERITAGE INSURANCE HOLDINGS, INC.
Entity Central Index Key	1,598,665
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		29,829,110

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
ASSETS
Fixed maturity securities, available for sale, at fair value (amortized cost of $448,813 and $370,967 in 2016 and 2015, respectively)	$ 453,037	$ 371,783
Equity securities, available for sale, at fair value (cost of $32,574 and $32,439 in 2016 and 2015, respectively)	28,130	28,313
Total investments	481,167	400,096
Cash and cash equivalents	168,859	236,277
Restricted cash	18,644	13,085
Accrued investment income	3,676	3,409
Premiums receivable, net	31,642	30,565
Prepaid reinsurance premiums	38,419	78,517
Deferred income taxes		7,964
Deferred policy acquisition costs, net	35,991	34,800
Property and equipment, net	17,514	17,111
Intangibles, net	31,279	2,120
Goodwill	47,256	8,028
Other assets	4,596	5,426
Total Assets	879,043	837,398
LIABILITIES AND STOCKHOLDERS' EQUITY
Unpaid losses and loss adjustment expenses	108,443	83,722
Unearned premiums	327,160	302,493
Reinsurance payable	27,626	60,210
Deferred income taxes	2,692
Income tax payable	1,829	2,092
Advance premiums	23,256	12,138
Accrued compensation	3,797	2,305
Other liabilities	27,995	17,885
Total Liabilities	$ 522,798	$ 480,845
Commitments and contingencies (Note 14)
Stockholders’ Equity:
Common stock, $0.0001 par value, 50,000,000 shares authorized, 31,566,410 shares issued and 29,829,110 outstanding at March 31, 2016 and 30,441,410 outstanding at December 31, 2015	$ 3	$ 3
Additional paid-in capital	203,832	202,628
Accumulated other comprehensive income (loss)	246	(2,033)
Treasury stock, at cost, 612,300 shares at March 31, 2016	(9,635)
Retained earnings	161,799	155,955
Total Stockholders' Equity	356,245	356,553
Total Liabilities and Stockholders' Equity	$ 879,043	$ 837,398

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Statement Of Financial Position [Abstract]
Fixed maturities available for sale, at amortized cost	$ 448,813	$ 370,967
Equity securities, cost	$ 32,574	$ 32,439
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	31,566,410
Common stock, shares outstanding	29,829,110	30,441,410
Treasury stock, shares	612,300

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income and Other Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
REVENUE:
Gross premiums written	$ 147,266	$ 133,968
Increase (decrease) in gross unearned premiums	4,677	(7,967)
Gross premiums earned	151,943	126,001
Ceded premiums	(45,601)	(24,512)
Net premiums earned	106,342	101,489
Net investment income	2,037	1,633
Net realized gains (losses)	381	(3)
Other revenue	2,805	2,009
Total revenue	111,565	105,128
EXPENSES:
Losses and loss adjustment expenses	66,963	32,539
Policy acquisition costs	18,128	13,093
General and administrative expenses	14,434	11,204
Total expenses	99,525	56,836
Income before income taxes	12,040	48,292
Provision for income taxes	4,617	18,236
Net income	7,423	30,056
OTHER COMPREHENSIVE INCOME:
Change in net unrealized gains on investments	4,082	1,622
Reclassification adjustment for net realized investment (gains) losses	(381)	3
Income tax benefit (expense) related to items of other comprehensive income (loss)	(1,422)	(626)
Total comprehensive income	$ 9,702	$ 31,055
Weighted average shares outstanding
Basic	30,367,884	29,798,571
Diluted	30,491,579	30,115,935
Earnings per share
Basic	$ 0.24	$ 1.01
Diluted	$ 0.24	$ 1

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Shares [Member]	Additional Paid-In Capital [Member]	Retained Earnings (Deficit) [Member]	Treasury Shares [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Beginning Balance at Dec. 31, 2014	$ 255,089	$ 3	$ 188,342	$ 65,021		$ 1,723
Beginning Balance, Shares at Dec. 31, 2014		29,794,960
Exercise of stock options and warrants	212		212
Exercise of stock options and warrants, Shares		12,500
Stock-based compensation	1,450		1,450
Net unrealized change in investments, net of tax	999					999
Net income	30,056			30,056
Ending balance at Mar. 31, 2015	287,806	$ 3	190,004	95,077		2,722
Ending balance, Shares at Mar. 31, 2015		29,807,460
Beginning Balance at Dec. 31, 2015	356,553	$ 3	202,628	155,955		(2,033)
Beginning Balance, Shares at Dec. 31, 2015		30,441,410
Buy-back 612,300 common shares of Company stock	(9,635)				$ (9,635)
Buy back common shares of company stock, shares		(612,300)
Stock-based compensation	1,204		1,204
Dividends declared on common stock	(1,579)			(1,579)
Net unrealized change in investments, net of tax	2,279					2,279
Net income	7,423			7,423
Ending balance at Mar. 31, 2016	$ 356,245	$ 3	$ 203,832	$ 161,799	$ (9,635)	$ 246
Ending balance, Shares at Mar. 31, 2016		29,829,110

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical)	3 Months Ended
	Mar. 31, 2016shares
Common Shares [Member]
Buy back common shares of company shares, shares	612,300

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
OPERATING ACTIVITIES
Net income	$ 7,423	$ 30,056
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation	1,204	1,450
Amortization of bond discount	1,593	1,335
Depreciation and amortization	398	294
Net realized (gains)/losses	(381)	3
Deferred income taxes, net of acquired	9,234	660
Changes in operating assets and liabilities:
Accrued investment income	(267)	(402)
Premiums receivable, net	603	(2,757)
Restricted cash	(5,559)
Prepaid reinsurance premiums	44,890	23,742
Deferred policy acquisition costs, net	(1,191)	(1,473)
Other assets	1,381	(1,446)
Unpaid losses and loss adjustment expenses	24,721	10,377
Unearned premiums	(4,677)	7,967
Reinsurance payable	(32,584)	(790)
Income taxes payable	(263)	(5,483)
Accrued compensation	274	4,633
Advance premiums	9,027	9,186
Other liabilities	1,184	(4,989)
Net cash provided by operating activities	57,010	72,363
INVESTING ACTIVITIES
Proceeds from sales and maturities of investments available for sale	60,279	13,497
Purchases of investments available for sale	(62,421)	(85,498)
Acquisition of a business, net of cash acquired	(110,319)
Proceeds from sale of investment in mortgage loan		699
Cost of property and equipment acquired	(753)	(941)
Net cash used in investing activities	(113,214)	(72,243)
FINANCING ACTIVITIES
Proceeds from exercise of stock options		212
Dividends	(1,579)
Purchase of treasury stock	(9,635)
Net cash (used in) provided by financing activities	(11,214)	212
(Decrease) Increase in cash and cash equivalents	(67,418)	332
Cash and cash equivalents at beginning of period	236,277	160,481
Cash and cash equivalents at end of period	168,859	160,813
Supplemental Cash Flows Information:
Income taxes paid, net	$ 3,550	$ 23,059

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	NOTE 1. BASIS OF PRESENTATION Basis of Presentation The condensed consolidated financial statements as of and for the three months ended March 31, 2016 and 2015 include Heritage Insurance Holdings, Inc. (“Parent Company”) and its wholly owned subsidiaries: Heritage Property & Casualty Insurance Company (“Heritage P&C”), which provides personal and commercial residential insurance; Heritage MGA, LLC, the managing general agent that manages substantially all aspects of our insurance subsidiary’s business; Contractors’ Alliance Network, LLC (“CAN”), our vendor network manager which includes BRC Restoration Specialists Inc. (“BRC”), our provider of restoration, emergency and recovery services; Zephyr Acquisition Company (“ZAC”) and its wholly-owned subsidiary, Zephyr Insurance Company (“Zephyr”), our provider for writing insurance policies for residential wind insurance within the State of Hawaii; Skye Lane Properties, LLC, our property management subsidiary; First Access Insurance Group, LLC, our retail agency; Osprey Re Ltd. (“Osprey”), our reinsurance subsidiary that provides a portion of the reinsurance protection purchased by our insurance subsidiary; and Heritage Insurance Claims, LLC, an inactive subsidiary reserved for future development. The assets of BRC, a building restoration company, were acquired and merged into CAN in 2015. The assets of SVM Restoration Services Inc., (“SVM”), a water mitigation company, were acquired and merged into CAN in 2014. Our primary products are personal and commercial residential insurance, which we currently offer in Florida, under authorization from the Florida Office of Insurance Regulation (“FLOIR”). We also began offering personal and commercial residential insurance in the states of North Carolina and Hawaii. We conduct our operations under one business segment. The condensed consolidated financial information included herein as of and for the three months ended March 31, 2016 and 2015 does not include all of the information and footnotes required by U.S. generally accepted accounting principles (“GAAP”) for complete financial statements. However, such information reflects all adjustments consisting of normal recurring accruals which are, in the opinion of management, necessary for a fair statement of the financial condition and results of operations for the interim periods. The results for the three months ended March 31, 2016 and 2015 are not indicative of annual results. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. The December 31, 2015 consolidated balance sheet was derived from the Company’s audited consolidated financial statements as of and for the year ended December 31, 2015. For further information, refer to the consolidated financial statements and footnotes thereto included in Heritage Insurance Holdings, Inc.’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015. References to “we,” “us,” “our,” or the “Company” refer to Heritage Insurance Holdings, Inc. and its consolidated subsidiaries. The Company qualifies as an “emerging growth company” as defined in Section 2(a)(19) of the Securities Act, of 1933, as amended, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). As a result, the Company is eligible to take advantage of certain exemptions from various reporting requirements applicable to other public companies that are not emerging growth companies. The Company intends to continue to take advantage of some, but not all, of the exemptions available to emerging growth companies until such time that it is no longer an emerging growth company. The Company has, however, irrevocably elected not to take advantage of the extended transition period afforded by the JOBS Act for the implementation of new or revised accounting standards. As a result, the Company will comply with new or revised accounting standards on the relevant dates on which adoption of such standards is required for non-emerging growth companies.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Significant Accounting Policies	NOTE 2. SIGNIFICANT ACCOUNTING POLICIES Changes to significant accounting policies We have made no material changes to our significant accounting policies as reported in our Annual Report on Form 10-K for the year ended December 31, 2015. Reclassifications Certain prior year amounts have been reclassified to conform to current year presentation. Such classifications include reclassifying goodwill and intangibles from other assets. Recent The Company describes below recent pronouncements that may have a significant effect on its financial statements or on its disclosures upon future adoption. The Company does not discuss recent pronouncements that are not anticipated to have an impact on, or are unrelated to, its financial condition, results of operations, or related disclosures. In March 2016, the FASB issued ASU 2016-09 , Improvements to Employee Share-Based Payment Accounting In January 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities In May 2014, the FASB issued ASU Topic 2014-09, Revenue from Contracts with Customers There are no other recently issued accounting standards that apply to us or that are expected to have a material impact on our results of operations, financial condition, or cash flows.

Acquisition

Acquisition	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Acquisition	NOTE 3. ACQUISITION On March 21, 2016, the Company acquired 100% of the outstanding stock of ZAC and its wholly-owned subsidiary, Zephyr Insurance Company (“Zephyr”) in exchange for approximately $134,000. Zephyr is a specialty property insurance provider, which offers windstorm-hurricane insurance policies for residential customers in Hawaii. This acquisition will further the Company’s strategic push to diversify business operations and achieve potential reinsurance synergies while expanding growth opportunities outside of Florida. The transaction was accounted for using the acquisition method of accounting. The valuation of assets acquired and liabilities assumed are based on preliminary estimates of fair value and are subject to revision as the Company finalizes its analysis. The results of operations of ZAC have been included in the Company’s condensed consolidated financial statements since the date of acquisition. The acquisition method requires significant use of estimates and is based on the information available to management at the time these condensed consolidated financial statements were prepared. As the acquisition was recently completed, the Company has not yet completed its assessment of the fair value of the intangible assets acquired, nor the related amortization expense applicable to definite-lived intangible assets during the period between the acquisition date and period end. As such, the total estimated purchase price in excess of net assets acquired and liabilities assumed has initially been recorded as goodwill and identified intangible assets. Goodwill is not deductible for tax purposes and will not be amortized, but is subject to annual impairment tests using a fair-value based approach. The Company is entitled to a holdback provision, for purposes of securing the indemnification obligation of the sellers for any damages arising out of or relating to a previous dispute should one arise. The following table summarizes the preliminary unaudited, estimated fair value of the assets acquired and liabilities assumed. The Company is in the process of finalizing the purchase price allocation and, accordingly, the following allocation of the purchase price, before income taxes, is subject to adjustments during the measurement period: Purchase Consideration Cash, net of cash acquired $ 110,319 Assets acquired Investments $ 76,742 Premiums and agent's receivable 1,403 Other assets 526 Prepaid reinsurance premiums 4,792 Intangible assets – value of business acquired 5,004 Intangible assets 24,203 Total assets acquired $ 112,670 Total liabilities assumed $ (41,579 ) Net assets acquired $ 71,091 Goodwill 39,228 Total purchase price $ 110,319 As a result of acquiring ZAC, our consolidated results of operations include the results of ZAC since the acquisition date. ZAC’s revenues and net income included in our results since the acquisition were $1,018 and $424, respectively, for the three months ended March 31, 2016 Pro Forma Information The following table presents selected pro forma information, assuming the acquisition of ZAC had occurred on January 1, 2016 and January 1, 2015 (unaudited). The unaudited pro forma information is not necessarily indicative of the results that the Company would have achieved had the transaction taken place on January 1, 2016, or January 1, 2015 and the unaudited pro forma information does not purport to be indicative of future financial results. For The Three Months Ended March 31, 2016 2015 (In thousands, except per share data) Revenue $ 120,385 $ 112,558 Net income 10,081 33,452 Basic, earnings per share $ 0.34 $ 1.12 Diluted, earnings per share $ 0.33 $ 1.11

Investments

Investments	3 Months Ended
	Mar. 31, 2016
Investments Debt And Equity Securities [Abstract]
Investments	NOTE 4. INVESTMENTS The following table details the difference between cost or adjusted/amortized cost and estimated fair value, by major investment category, at March 31, 2016 and December 31, 2015: Cost or Adjusted / Amortized Cost Gross Gains Gross Losses Fair Value (In thousands) March 31, 2016 U.S. government and agency securities $ 26,581 $ 157 $ 10 $ 26,728 States, municipalities and political subdivisions 215,952 2,981 255 218,678 Special revenue 57,323 203 432 57,094 Industrial and miscellaneous 145,934 1,761 213 147,482 Redeemable preferred stocks 3,023 54 22 3,055 Total fixed maturities 448,813 5,156 932 453,037 Nonredeemable preferred stocks 13,098 280 57 13,321 Equity securities 19,476 443 5,110 14,809 Total equity securities 32,574 723 5,167 28,130 Total investments $ 481,387 $ 5,879 $ 6,099 $ 481,167 Cost or Adjusted / Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) December 31, 2015 U.S. government and agency securities $ 25,474 $ 16 $ 387 $ 25,103 States, municipalities and political subdivisions 184,145 2,107 137 186,115 Special revenue 42,593 19 204 42,408 Industrial and miscellaneous 115,313 294 932 114,675 Redeemable preferred stocks 3,442 61 21 3,482 Total fixed maturities 370,967 2,497 1,681 371,783 Nonredeemable preferred stocks 12,443 338 43 12,738 Equity securities 19,996 398 4,819 15,575 Total equity securities 32,439 736 4,862 28,313 Total investments $ 403,406 $ 3,233 $ 6,543 $ 400,096 The Company calculates the gain or loss realized on the sale of investments by comparing the sales price (fair value) to the cost or adjusted/amortized cost of the security sold. The Company determines the cost or adjusted/amortized cost of the security sold using the specific-identification method. The following tables detail the Company’s net realized gains (losses) by major investment category for the three months ended March 31, 2016 and 2015. 2016 2015 Gains (Losses) Fair Value at Sale Gains (Losses) Fair Value at Sale (In thousands) Three Months Ended March 31, Fixed maturities $ 1,130 $ 38,237 $ 37 $ 3,526 Equity securities 59 3,410 46 1,653 Total realized gains 1,189 41,647 83 5,179 Fixed maturities (6 ) 5,893 (86 ) 1,490 Equity securities (802 ) 2,160 — — Total realized losses (808 ) 8,053 (86 ) 1,490 Net realized gain (losses) $ 381 $ 49,700 $ (3 ) $ 6,669 The table below summarizes the Company’s fixed maturities at March 31, 2016 by contractual maturity periods. Actual results may differ as issuers may have the right to call or prepay obligations, with or without penalties, prior to the contractual maturity of those obligations. March 31, 2016 Cost or Amortized Cost Percent of Total Fair Value Percent of Total (In thousands) (In thousands) Due in one year or less $ 44,102 10 % $ 44,103 10 % Due after one year through five years 195,446 43 % 196,481 43 % Due after five years through ten years 120,061 27 % 116,981 26 % Due after ten years 89,204 20 % 95,472 21 % Total $ 448,813 100 % $ 453,037 100 % The following table summarizes the Company’s net investment income by major investment category for the three months ended March 31, 2016 and 2015, respectively: Three Months Ended March 31, 2016 2015 (In thousands) Fixed maturities $ (1,579 ) $ 1,479 Equity securities 3,953 425 Cash, cash equivalents and short-term investments 1 123 Other investments 27 17 Net investment income 2,402 2,044 Investment expenses 365 411 Net investment income, less investment expenses $ 2,037 $ 1,633 The Company does not intend to sell investments that are in an unrealized loss position and it is not likely that the Company will be required to sell any investments before recovery of their amortized cost basis. As such, the Company does not consider those investments with an unrealized loss to be other-than-temporarily impaired at March 31, 2016 or December 31, 2015. There were no material other-than-temporary impairments or credit losses related to available-for-sale securities in the three months ended March 31, 2016 and 2015. In addition, there were no material gross realized gains or losses in the three months ended March 31, 2016 and 2015. The following tables present an aging of our unrealized investment losses by investment class as of March 31, 2016 and December 31, 2015: Less Than Twelve Months Twelve Months or More Number of Securities Gross Unrealized Losses Fair Value Number of Securities Gross Unrealized Losses Fair Value (In thousands) March 31, 2016 U.S. government and agency securities 10 $ 10 $ 10,002 — $ — $ — States, municipalities and political subdivisions 110 253 46,904 2 2 376 Special revenue 40 188 21,968 5 24 1,117 Industrial and miscellaneous 212 411 25,087 10 22 2,634 Redeemable preferred stocks 9 22 924 — — — Total fixed maturities 381 884 104,885 17 48 4,127 Nonredeemable preferred stocks 31 43 2,604 4 14 323 Equity securities 48 2,822 7,572 22 2,288 2,834 Total equity securities 79 2,865 10,176 26 2,302 3,157 Total investments 460 $ 3,749 $ 115,061 43 $ 2,350 $ 7,284 Less Than Twelve Months Twelve Months or More Number Securities Gross Unrealized Losses Fair Number Securities Gros s Unrealized Losses Fai r (In thousands) December 31, 2015 U.S. government and agency securities 19 $ 385 $ 19,849 2 $ 3 $ 397 States, municipalities and political subdivisions 14 50 10,979 1 3 164 Special revenue 141 870 73,312 5 61 1,318 Industrial and miscellaneous 134 279 60,203 10 9 1,646 Redeemable preferred stocks 9 21 950 — — — Total fixed maturities 317 1,605 165,293 18 76 3,525 Nonredeemable preferred stocks 19 29 1,560 5 14 250 Equity securities 48 2,975 8,416 20 1,844 2,680 Total equity securities 67 3,004 9,976 25 1,858 2,930 Total investments 384 $ 4,609 $ 175,269 43 $ 1,934 $ 6,455

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	NOTE 5. FAIR VALUE OF FINANCIAL INSTRUMENTS For the Company’s investments in U.S government securities that do not have prices in active markets, agency securities, state and municipal governments, and corporate bonds, the Company obtains the fair value from its third-party valuation service and we evaluate the relevant inputs, assumptions, methodologies and conclusions associated with such valuations. The valuation service calculates prices for the Company’s investments in the aforementioned security types on a month-end basis by using several matrix-pricing methodologies that incorporate inputs from various sources. The model the valuation service uses to price U.S. government securities and securities of states and municipalities incorporates inputs from active market makers and inter-dealer brokers. To price corporate bonds and agency securities, the valuation service calculates non-call yield spreads on all issuers, uses option-adjusted yield spreads to account for any early redemption features, then adds final spreads to the U.S. Treasury curve as of quarter end. The inputs the valuation service uses in its calculations are not quoted prices in active markets, but are observable inputs, and therefore represent Level 2 inputs. The following tables present information about the Company’s assets measured at fair value on a recurring basis. The Company assesses the levels for the investments at each measurement date, and transfers between levels are recognized on the actual date of the event or change in circumstances that caused the transfer in accordance with the Company’s accounting policy regarding the recognitions of transfers between levels of the fair value hierarchy. For the three months ended March 31, 2016 and the year ended December 31, 2015, there were no transfers in or out of Level 1, 2, and 3. March 31, 2016 Total Level 1 Level 2 Level 3 (in thousands) Fixed maturities investments: U.S. government and agency securities $ 26,728 $ 4,335 $ 22,393 $ — States, municipalities and political subdivisions 218,678 — 218,678 — Special revenue 57,094 6,730 50,364 — Industrial and miscellaneous 147,482 — 147,482 — Redeemable preferred stocks 3,055 3,055 — — Total fixed maturities investments $ 453,037 $ 14,120 $ 438,917 $ — Nonredeemable preferred stocks 13,321 13,321 — — Equity securities 14,809 14,809 — — Total equity securities $ 28,130 $ 28,130 $ — $ — Total investments $ 481,167 $ 42,250 $ 438,917 $ — December 31, 2015 Total Level 1 Level 2 Level 3 (in thousands) Assets: Certificate of deposits (1) $ 3,300 $ 3,300 $ — $ — Fixed maturities investments: U.S. government and agency securities $ 25,103 $ 22,361 $ 2,742 $ — States, municipalities and political subdivisions 186,115 — 186,115 — Special revenue 42,408 — 42,408 — Industrial and miscellaneous 114,675 — 114,675 — Redeemable preferred stocks 3,482 3,482 — — Total fixed maturities investments $ 375,083 $ 29,143 $ 345,940 $ — Nonredeemable preferred stocks 12,738 12,738 — — Equity securities 15,575 15,575 — — Total equity securities $ 28,313 $ 28,313 $ — $ — Total investments $ 403,396 $ 57,456 $ 345,940 $ — (1) Includes commercial paper with maturities of three months or less at time of purchase of $3,300 classified in cash and cash equivalents.

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2016
Property Plant And Equipment [Abstract]
Property and Equipment	NOTE 6. PROPERTY AND EQUIPMENT, NET Property and equipment, net consisted of the following at March 31, 2016 and December 31, 2015: March 31, 2016 December 31, 2015 (In thousands) Land $ 2,582 $ 2,582 Building 9,599 9,599 Computer hardware and software 3,101 2,502 Office furniture and equipment 670 634 Tenant and leasehold improvements 3,320 3,300 Vehicle fleet 791 693 Total, at cost 20,063 19,310 Less: accumulated depreciation and amortization 2,549 2,199 Property and equipment, net $ 17,514 $ 17,111 Depreciation and amortization expense for property and equipment was $398 and $294 for the three months ended March 31, 2016 and 2015, respectively. The Company’s real estate consists of 13 acres of land and two buildings with a gross area of 148,000 square feet. The Company relocated to these facilities during March 2014.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 7. EARNINGS PER SHARE The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the periods indicated. Three Months Ended March 31, 2016 2015 Basic earnings per share: Net income attributable to common stockholders (000's) $ 7,423 $ 30,056 Weighted average shares outstanding 30,367,884 29,798,571 Basic earnings per share: $ 0.24 $ 1.01 Diluted earnings per share: Net income attributable to common stockholders (000's) $ 7,423 $ 30,056 Weighted average shares outstanding 30,367,884 29,798,571 Weighted average dilutive shares 123,695 317,364 Total weighted average dilutive shares 30,491,579 30,115,935 Diluted earnings per share: $ 0.24 $ 1.00

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs	3 Months Ended
	Mar. 31, 2016
Insurance [Abstract]
Deferred Policy Acquisition Costs	NOTE 8. DEFERRED POLICY ACQUISITION COSTS The Company defers certain costs in connection with written policies, called Deferred Policy Acquisition Costs (“DPAC”), net of corresponding amounts of ceded reinsurance commissions, called Deferred Reinsurance Ceding Commissions (“DRCC”). Net DPAC is amortized over the effective period of the related insurance policies. The Company anticipates that its DPAC costs will be fully recoverable in the near term. The table below depicts the activity with regard to DPAC during the three month periods ended March 31, 2016 and 2015: Three Months Ended March 31, 2016 2015 (In thousands) Beginning Balance $ 34,800 $ 24,370 Policy acquisition costs deferred 19,319 14,566 Amortization (18,128 ) (13,093 ) Ending Balance $ 35,991 $ 25,843

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 9. INCOME TAXES During the three months ended March 31, 2016 and 2015, the Company recorded $4,617 and $18,236, respectively, of income tax expense which corresponds to an estimated annual effective tax rate of 38.3% and 37.8%, respectively. The table below summarizes the significant components of our net deferred tax assets (liabilities): March 31, 2016 December 31, 2015 (in thousands) Deferred tax assets: Unearned premiums $ 19,670 $ 17,979 Tax-related discount on loss reserve 1,277 1,140 Unrealized loss — 1,617 Stock-based compensation 1,814 1,277 Other 1,413 256 Total deferred tax assets $ 24,174 $ 22,269 Deferred tax liabilities: Deferred acquisition costs 13,705 13,424 Unrealized gain 144 — Investment basis difference on purchase 841 — Intangibles 11,300 — Property and equipment 471 473 Other 405 408 Total deferred tax liabilities 26,866 14,305 Net deferred tax assets (liabilities) $ (2,692 ) $ 7,964 In assessing the net realizable value of deferred tax assets, the Company considered whether it is more likely than not that it will not realize some portion or all of the deferred tax assets. The ultimate realization of deferred tax assets depends upon the generation of future taxable income during the periods in which those temporary differences become deductible. The Company considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. No taxing authorities are currently examining any of the Company’s 2015, 2014 or 2013 federal or state income tax returns. As of March 31, 2016 and December 31, 2015, we had no significant uncertain tax positions.

Reinsurance

Reinsurance	3 Months Ended
	Mar. 31, 2016
Insurance [Abstract]
Reinsurance	NOTE 10. REINSURANCE 2015 – 2016 Reinsurance Program During the second quarter of 2015, the Company placed its reinsurance program for the period from June 1, 2015 through May 31, 2016. The Company’s reinsurance program, which is segmented into layers of coverage, protects it for excess property catastrophe losses and loss adjustment expenses. The Company’s 2015-2016 reinsurance program incorporates the mandatory coverage required by law to be placed with FHCF. For the 2015 hurricane season, the Company selected 75% participation in the FHCF. The Company also purchased private reinsurance below, alongside and above the FHCF layer, as well as aggregate reinsurance coverage. The following describes the various layers of the Company’s June 1, 2015 to May 31, 2016 reinsurance program. • The Company’s Retention . For the first catastrophic event, the Company has a primary retention of the first $35 million of losses and loss adjustment expenses, of Osprey is responsible for $20 million. For a second event, Heritage P&C’s primary retention decreases to $5 million and Osprey is responsible for $10 million. To the extent that there is reinsurance coverage remaining, Heritage P&C has a $5 million primary retention for events beyond the second catastrophic event. Osprey has no primary retention beyond the second catastrophic event. • Layers Below FHCF . Immediately above the Company’s retention, the Company has purchased $440 million of reinsurance from third party reinsurers. Through the payment of a reinstatement premium, the Company is able to reinstate the full amount of this reinsurance one time. To the extent that $440 million or a portion thereof is exhausted in a first catastrophic event, the Company has purchased reinstatement premium protection insurance to pay the required premium necessary for the reinstatement of this coverage. A portion of this coverage wraps around the FHCF and provides coverage alongside and above the FHCF. • FHCF Layer • CAT Bond Layer alongside the FHCF • CAT Bond Layer above the FHCF • Aggregate Coverage For a first catastrophic event, our reinsurance program provides coverage for $1.8 billion of losses and loss adjustment expenses, including our retention, and we are responsible for all losses and loss adjustment expenses in excess of such amount. For subsequent catastrophic events, our total available coverage depends on the magnitude of the first event, as we may have coverage remaining from layers that were not previously fully exhausted. We have also purchased reinstatement premium protection insurance to provide an additional $440.0 million of coverage. Our aggregate reinsurance layer also provides coverage for second and subsequent events to the extent not exhausted in prior events. In total, we have purchased $2.3 billion of potential reinsurance coverage, including our retention, for multiple catastrophic events. Our ability to access this coverage, however, will be subject to the severity and frequency of such events. As of August 31, 2015, the peak of the hurricane season, our total insured value was $76.9 billion, and we may experience significant losses and loss adjustment expenses in excess of our retention. 2014 – 2015 Reinsurance Program During the second quarter of 2014, the Company placed its reinsurance program for the period from June 1, 2014 through May 31, 2015. The Company’s reinsurance program, which is segmented into layers of coverage, protects it for excess property catastrophe losses and loss adjustment expenses. The Company’s 2014-2015 reinsurance program incorporates the mandatory coverage required by law to be placed with FHCF. The Company also purchased private reinsurance below, alongside and above the FHCF layer, as well as aggregate reinsurance coverage. The following describes the various layers of the Company’s June 1, 2014 to May 31, 2015 reinsurance program. • The Company’s Retention • Layers Below FHCF • FHCF Layer • CAT Bond Layer • Aggregate Coverage For a first catastrophic event, the Company’s 2014-2015 reinsurance program provided coverage for $990 million of losses and loss adjustment expenses, including its retention, and the Company was responsible for all losses and loss adjustment expenses in excess of such amount. For subsequent catastrophic events, the Company’s total available coverage depended on the magnitude of the first event, as the Company may have coverage remaining from layers that were not previously fully exhausted. The Company purchased reinstatement premium protection insurance to provide an additional $185 million of coverage. The Company’s aggregate reinsurance layer also provided coverage for second and subsequent events to the extent not exhausted in prior events. Property Per Risk Coverage The Company also purchased property per risk coverage for losses and loss adjustment expenses in excess of $1 million per claim. The limit recovered for an individual loss is $9 million and total limit for all losses is $27 million. There are two reinstatements available with additional premium due based on the amount of the layer exhausted. In addition, the Company purchased facultative reinsurance in excess of $10 million for any commercial properties it insured for which the total insured value exceeded $10 million. Assumption Transactions and Assumed Premiums Written The following table depicts written premiums, earned premiums and losses, showing the effects that the Company’s assumption transactions have on these components of the Company’s consolidated statements of operations and comprehensive income: Three Months Ended March 31, 2016 2015 (In thousands) Premium written: Direct $ 138,132 $ 101,501 Assumed 9,134 32,467 Ceded (732 ) (770 ) Net premium written $ 146,534 $ 133,198 Change in unearned premiums: Direct $ (10,387 ) $ (26,521 ) Assumed 15,064 18,554 Ceded (44,869 ) (23,742 ) Net decrease (increase) $ (40,192 ) $ (31,709 ) Premiums earned: Direct $ 127,745 $ 74,980 Assumed 24,198 51,021 Ceded (45,601 ) (24,512 ) Net premiums earned $ 106,342 $ 101,489 Losses and LAE incurred: Direct $ 51,766 $ 26,643 Assumed 15,203 5,896 Ceded (6 ) — Net losses and LAE incurred $ 66,963 $ 32,539 The following table highlights the effects that the Company’s assumption transactions have on unpaid losses and loss adjustment expenses and unearned premiums: March 31, 2016 December 31, 2015 (In thousands) Unpaid losses and loss adjustment expenses: Direct $ 78,269 $ 60,223 Assumed 30,209 23,499 Gross unpaid losses and LAE 108,478 83,722 Ceded (35 ) — Net unpaid losses and LAE $ 108,443 $ 83,722 Unearned premiums: Direct $ 298,485 $ 258,754 Assumed 28,675 43,739 Gross unearned premiums 327,160 302,493 Ceded (38,419 ) (78,517 ) Net unearned premiums $ 288,741 $ 223,976

Reserve For Unpaid Losses

Reserve For Unpaid Losses	3 Months Ended
	Mar. 31, 2016
Insurance [Abstract]
Reserve for Unpaid Losses	NOTE 11. RESERVE FOR UNPAID LOSSES The Company determines the reserve for unpaid losses on an individual-case basis for all incidents reported. The liability also includes amounts which are commonly referred to as incurred but not reported, or “IBNR”, claims as of the balance sheet date. The table below summarizes the activity related to the Company’s reserve for unpaid losses: Three Months Ended March 31, 2016 2015 Balance, beginning of period $ 83,722 $ 51,469 Less: reinsurance recoverable on paid losses — — Net balance, beginning of period 83,722 51,469 Incurred related to: Current year 52,500 37,052 Prior years 14,463 (4,513 ) Total incurred 66,963 32,539 Paid related to: Current year 12,632 9,815 Prior years 29,610 12,347 Total paid 42,242 22,162 Net balance, end of period 108,443 61,846 Plus: reinsurance recoverable on unpaid losses — — Balance, end of period $ 108,443 $ 61,846 The Company writes insurance in the state of Florida, North Carolina and Hawaii, which could be exposed to hurricanes or other natural catastrophes. Although the occurrence of a major catastrophe could have a significant effect on our monthly or quarterly results, such an event is unlikely to be so material as to disrupt our overall normal operations. However, the Company is unable to predict the frequency or severity of any such events that may occur in the near term or thereafter. The Company believes that the reserve for unpaid losses reasonably represents the amount necessary to pay all claims and related expenses which may arise from incidents that have occurred as of the balance sheet date. The Company’s losses incurred during the three months ended of March 31, 2016 and 2015 reflect a prior year deficiency of $14,463 and a redundancy of $4,513, respectively, associated with management’s best estimate of the actuarial loss and LAE reserves with consideration given to Company specific historical loss experience. Approximately $8,243 of the prior year deficiency was related to actual development of losses incurred in excess of expected emergence of losses based on the loss development factor (“LDF’s”) used in the estimation of IBNR at December 31, 2015. Approximately, $6,220 of the prior year deficiency was related to increasing the LDF’s for the estimation of IBNR at March 31, 2016 to reflect changing development patterns. In particular, all of the unfavorable development was from personal lines. Also, most of the unfavorable emergence came from the three most recent loss or accident quarters (the fourth, third and second quarters of 2015) and are related to claims involving litigation and claims that were represented by attorneys, public adjusters or others (sometimes referred to as Assignment of Benefits). Also, a majority of the unfavorable development was isolated to the tri-county region of Florida (the counties of Miami-Dade, Broward and Palm Beach).

Other Liabilities

Other Liabilities	3 Months Ended
	Mar. 31, 2016
Other Liabilities Disclosure [Abstract]
Other Liabilities	NOTE 12. OTHER LIABILITIES At March 31, 2016 and December 31, 2015, other liabilities included approximately $11,816 and $4,920, respectively, related to amounts owed to Citizens for policies assumed by the Company, where the policyholder subsequently opted-out of the assumption program.

Statutory Accounting and Regula

Statutory Accounting and Regulations	3 Months Ended
	Mar. 31, 2016
Text Block [Abstract]
Statutory Accounting and Regulations	NOTE 13. STATUTORY ACCOUNTING AND REGULATIONS State laws and regulations, as well as national regulatory agency requirements, govern the operations of all insurers such as our insurance subsidiary. The various laws and regulations require that insurers maintain minimum amounts of statutory surplus and risk-based capital; restrict insurers’ ability to pay dividends; the allowable investment types and investment mixes, and subject the Company’s insurers to assessments. The Company’s insurance subsidiary, Heritage P&C, must file with the insurance regulatory authorities an “Annual Statement” which reports, among other items, net income and surplus as regards policyholders, which is called stockholder’s equity under GAAP. For the three months ended March 31, 2016 and for the year ended December 31, 2015, the Company’s insurance subsidiary recorded statutory net loss of $5.3 million and a net income $45.4 million, respectively. The Company’s insurance subsidiary is domiciled in Florida, and the laws of that state require that the Company’s insurance subsidiary maintain capital and surplus equal to the greater of $15 million or 10% of its liabilities. The Company’s statutory capital surplus was $211.3 million and $216.6 million at March 31, 2016 and December 31, 2015, respectively. State law also requires the Company’s insurance subsidiary to adhere to prescribed premium-to-capital surplus ratios, with which the Company is in compliance. In 2014, the Florida legislature passed Senate Bill 1308, which was signed into law by the Governor. Among other things, this bill incorporates the National Association of Insurance Commissioners (“NAIC”) recommendations with regard to expansion of the regulation of insurers to include non-insurance entity affiliates. Specifically, the new law permits the FLOIR to examine affiliated entities within an insurance holding company system in order to ascertain the financial condition of the insurer. The law also provides for certain disclosures with regard to enterprise risk, which are satisfied by the provision of related information filed with the SEC. This legislation was designed to bolster regulation for insurer solvency and governance and became effective January 1, 2015.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 14. COMMITMENTS AND CONTINGENCIES The Company is involved in claims-related legal actions arising in the ordinary course of business. The Company accrues amounts resulting from claims-related legal actions in unpaid losses and loss adjustment expenses during the period that it determines an unfavorable outcome becomes probable and it can estimate the amounts. Management makes revisions to its estimates based on its analysis of subsequent information that the Company receives regarding various factors, including: (i) per claim information; (ii) company and industry historical loss experience; (iii) judicial decisions and legal developments in the awarding of damages; and (iv) trends in general economic conditions, including the effects of inflation. When determinable, the Company discloses the range of possible losses in excess of those accrued and for reasonably possible losses.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 15. RELATED PARTY TRANSACTIONS The Company has been party to various related party transactions involving certain of its officers, directors and significant stockholders as set forth below. The Company has entered into each of these arrangements without obligation to continue its effect in the future and the associated expense was immaterial to its results of operations or financial position as of March 31, 2016 and 2015. · The Company has entered into an agreement with a real estate management company controlled by one of its directors to manage its Clearwater office space. Management services are provided at a fixed fee, plus ordinary and necessary out of pocket expenses. Fees for additional services, such as the oversight of construction activity, are provided for on an as-needed basis. For the period ended March 31, 2016 and 2015, the Company paid the management service company approximately $35 and $31, respectively.

Employee Benefit Plan

Employee Benefit Plan	3 Months Ended
	Mar. 31, 2016
Compensation And Retirement Disclosure [Abstract]
Employee Benefit Plan	NOTE 16. EMPLOYEE BENEFIT PLAN The Company provides a 401(k) plan for substantially all of its employees. The Company contributes 3% of employees’ salary, up to the maximum allowable contribution, regardless of the employees’ level of participation in the plan. For the three-month periods ended March 31, 2016 and 2015, the Company’s contributions to the plan on behalf of the participating employees were $167 and $76, respectively. The Company provides for its employees a partially self-insured healthcare plan and benefits. For the three months ended March 31, 2016 and 2015, the Company incurred medical premium costs in the aggregate of $683 and $231, respectively. The Company also recorded approximately $455 as unpaid claims as of March 31, 2016. A stop loss reinsurance policy caps the maximum loss that could be incurred by the Company under the self-insured plan. The Company’s stop loss coverage per employee is $60 for which any excess cost would be covered by the reinsurer subject to an aggregate limit for losses in excess of $1.5 million which would provide up to $1.0 million of coverage. Any excess of the $1.5 million retention and the $1 million of aggregate coverage would be borne by the Company. The aggregate stop loss commences once our expenses exceed 125% of the annual aggregate expected claims.

Equity

Equity	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Equity	NOTE 17. EQUITY The total amount of authorized capital stock consists of 50,000,000 shares of common stock and 5,000,000 shares of preferred stock. As of March 31, 2016, the Company had 29,829,110 shares of common stock outstanding, 612,300 treasury shares of common and 1,125,000 unvested restricted common stock [not included in the outstanding share count] issued reflecting total paid-in capital of $203,832 as of such date. Common Stock Holders of common stock are entitled to one vote for each share held on all matters subject to a vote of stockholders, subject to the rights of holders of any outstanding preferred stock. Accordingly, holders of a majority of the shares of common stock entitled to vote in any election of directors may elect all of the directors standing for election, subject to the rights of holders of any outstanding preferred stock. Holders of common stock will be entitled to receive ratably any dividends that the board of directors may declare out of funds legally available therefor, subject to any preferential dividend rights of outstanding preferred stock. Upon the Company’s liquidation, dissolution or winding up, the holders of common stock will be entitled to receive ratably its net assets available after the payment of all debts and other liabilities and subject to the prior rights of holders of any outstanding preferred stock. Holders of common stock have no preemptive, subscription, redemption or conversion rights. There are no redemption or sinking fund provisions applicable to the common stock. All outstanding shares of the Company’s capital stock are fully paid and nonassessable. Equity As more fully disclosed in our audited financial statements for the year ended December 31, 2015, there were, as of December 31, 2015, 30,441,410 shares of common stock outstanding, 1,149,923 stock options outstanding, and 1,125,000 restricted stock grants, representing $202,628 of additional paid-in capital. First Quarter 2016 Stock Repurchase Program On September 14, 2015, the Company announced that the Company’s Board of Directors, authorized a stock repurchase program authorizing the Company to repurchase up to $20 million of the Company’s common stock. The stock repurchase program expires December 31, 2016. The Company purchased 612,300 shares at a total cost of $9,635 during the three months ended March 31, 2016, through open market or private transactions. Dividends On March 2, 2016, the Company announced a first quarter dividend of $0.05 per share payable on April 5, 2016, to stockholders of record as of the close of business on March 15, 2016. On December 17, 2015, the Company announced a cash dividend of $0.05 per share on the Company’s common stock, payable on January 13, 2016 to stockholders of record as of the close of business on December 31, 2015. During the three months ended March 31, 2016 and December 31, 2015, dividends charged to retained earnings were $1,579 and $1,578, respectively.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	NOTE 18. STOCK-BASED COMPENSATION The Company has adopted the Heritage Insurance Holdings, Inc., Omnibus Incentive Plan (the “Plan”) effective on May 22, 2014. The Plan has authorized 2,981,737 shares of common stock reserved for issuance under the Plan for future grants. At March 31, 2016 and December 31, 2015, there were 170,814 shares available for grant under the Plan. The Company recognizes compensation expense under ASC 718 for its stock-based payments based on the fair value of the awards. The Company grants stock options at exercise prices equal to the fair market value of the Company’s stock on the dates the options are granted. The options have a maximum term of ten years from the date of grant and vest primarily in equal annual installments over a range of one to five year periods following the date of grant for employee options. If a participant’s employment relationship ends, the participant’s vested awards will remain exercisable for the shorter of a period of 30 days or the period ending on the latest date on which such award could have been exercisable. The fair value of each option grant is separately estimated for each grant date. The fair value of each option is amortized into compensation expense on a straight-line basis between the grant date for the award and each vesting date. The Company estimates the fair value of all stock option awards as of the date of the grant by applying the Black-Scholes-Merton multiple-option pricing valuation model (“Black-Scholes model”). The application of this valuation model involves assumptions that are judgmental and highly sensitive in the determination of compensation expense. Stock Options and Restricted Stock Stock Options A summary of information related to stock options and restricted stock outstanding at March 31, 2016 is as follows: Options Weighted - Average Grant Date Fair Value Balance at December 31, 2015 1,149,923 $ 2.99 Granted — Exercised — Balance at March 31, 2016 1,149,923 $ 2.99 Vested and exercisable as of March 31, 2016 1,149,923 $ 2.99 The Company had approximately $0 and $500 of unrecognized stock compensation expense at March 31, 2016 and 2015, respectively, related to non-vested stock-based compensation granted. The Company recognized approximately $0 and $1,450 of compensation expense during the three months ended March 31, 2016 and 2015, respectively. Stock-based compensation costs for restricted grants is measured based on the closing fair market value of our common stock on the date of grant. The Company recognizes stock-based compensation costs over the award’s requisite service period on a straight-line basis for time-based restricted stock grants. Restricted Stock Weighted-Average Grant-Date Fair Number of shares Value per Share Unvested, at December 31, 2015 1,125,000 $ 21.40 Granted — — Vested — — Canceled and forfeited — — Unvested, at March 31, 2016 1,125,000 $ 21.40 The Company recognized $1,204 of compensation expense during the three months ended March 31, 2016. The Company had approximately $18,912 of unrecognized stock compensation expense at March 31, 2016 related to unvested compensation, which the Company expects to recognize ratably over the period of 4.7 years. We did not have any compensation expense for the comparable period for 2015 relating to the restricted stock.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	NOTE 19. SUBSEQUENT EVENTS On May 3, 2016, the Company announced that the Board of Directors authorized an increase in the Company’s share repurchase authorization by $50 million, with the authorization period extended through December 31, 2017. The $50 million repurchase authorization is in addition to the $20 million repurchase authorization that was put in place in September 2015, of which approximately $10 million remained. On May 4, 2016, the Company announced the Board of Directors has declared a second quarter dividend of $0.06 per share to stockholders of record as of June 15, 2016. The dividend is payable on July 1, 2016. The declaration and payment of any future dividend will be subject to the discretion of the Board of Directors and will depend on a variety of factors including the Company’s financial condition and results of operations.

Significant Accounting Polici27

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements as of and for the three months ended March 31, 2016 and 2015 include Heritage Insurance Holdings, Inc. (“Parent Company”) and its wholly owned subsidiaries: Heritage Property & Casualty Insurance Company (“Heritage P&C”), which provides personal and commercial residential insurance; Heritage MGA, LLC, the managing general agent that manages substantially all aspects of our insurance subsidiary’s business; Contractors’ Alliance Network, LLC (“CAN”), our vendor network manager which includes BRC Restoration Specialists Inc. (“BRC”), our provider of restoration, emergency and recovery services; Zephyr Acquisition Company (“ZAC”) and its wholly-owned subsidiary, Zephyr Insurance Company (“Zephyr”), our provider for writing insurance policies for residential wind insurance within the State of Hawaii; Skye Lane Properties, LLC, our property management subsidiary; First Access Insurance Group, LLC, our retail agency; Osprey Re Ltd. (“Osprey”), our reinsurance subsidiary that provides a portion of the reinsurance protection purchased by our insurance subsidiary; and Heritage Insurance Claims, LLC, an inactive subsidiary reserved for future development. The assets of BRC, a building restoration company, were acquired and merged into CAN in 2015. The assets of SVM Restoration Services Inc., (“SVM”), a water mitigation company, were acquired and merged into CAN in 2014. Our primary products are personal and commercial residential insurance, which we currently offer in Florida, under authorization from the Florida Office of Insurance Regulation (“FLOIR”). We also began offering personal and commercial residential insurance in the states of North Carolina and Hawaii. We conduct our operations under one business segment. The condensed consolidated financial information included herein as of and for the three months ended March 31, 2016 and 2015 does not include all of the information and footnotes required by U.S. generally accepted accounting principles (“GAAP”) for complete financial statements. However, such information reflects all adjustments consisting of normal recurring accruals which are, in the opinion of management, necessary for a fair statement of the financial condition and results of operations for the interim periods. The results for the three months ended March 31, 2016 and 2015 are not indicative of annual results. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. The December 31, 2015 consolidated balance sheet was derived from the Company’s audited consolidated financial statements as of and for the year ended December 31, 2015. For further information, refer to the consolidated financial statements and footnotes thereto included in Heritage Insurance Holdings, Inc.’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015. References to “we,” “us,” “our,” or the “Company” refer to Heritage Insurance Holdings, Inc. and its consolidated subsidiaries. The Company qualifies as an “emerging growth company” as defined in Section 2(a)(19) of the Securities Act, of 1933, as amended, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). As a result, the Company is eligible to take advantage of certain exemptions from various reporting requirements applicable to other public companies that are not emerging growth companies. The Company intends to continue to take advantage of some, but not all, of the exemptions available to emerging growth companies until such time that it is no longer an emerging growth company. The Company has, however, irrevocably elected not to take advantage of the extended transition period afforded by the JOBS Act for the implementation of new or revised accounting standards. As a result, the Company will comply with new or revised accounting standards on the relevant dates on which adoption of such standards is required for non-emerging growth companies.
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform to current year presentation. Such classifications include reclassifying goodwill and intangibles from other assets.
Accounting Pronouncements	Recent The Company describes below recent pronouncements that may have a significant effect on its financial statements or on its disclosures upon future adoption. The Company does not discuss recent pronouncements that are not anticipated to have an impact on, or are unrelated to, its financial condition, results of operations, or related disclosures. In March 2016, the FASB issued ASU 2016-09 , Improvements to Employee Share-Based Payment Accounting In January 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities In May 2014, the FASB issued ASU Topic 2014-09, Revenue from Contracts with Customers There are no other recently issued accounting standards that apply to us or that are expected to have a material impact on our results of operations, financial condition, or cash flows.

Acquisition (Tables)

Acquisition (Tables)	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Schedule of Purchase Price Allocation	The following table summarizes the preliminary unaudited, estimated fair value of the assets acquired and liabilities assumed. The Company is in the process of finalizing the purchase price allocation and, accordingly, the following allocation of the purchase price, before income taxes, is subject to adjustments during the measurement period: Purchase Consideration Cash, net of cash acquired $ 110,319 Assets acquired Investments $ 76,742 Premiums and agent's receivable 1,403 Other assets 526 Prepaid reinsurance premiums 4,792 Intangible assets – value of business acquired 5,004 Intangible assets 24,203 Total assets acquired $ 112,670 Total liabilities assumed $ (41,579 ) Net assets acquired $ 71,091 Goodwill 39,228 Total purchase price $ 110,319
Summary of Pro Forma Information	The following table presents selected pro forma information, assuming the acquisition of ZAC had occurred on January 1, 2016 and January 1, 2015 (unaudited). The unaudited pro forma information is not necessarily indicative of the results that the Company would have achieved had the transaction taken place on January 1, 2016, or January 1, 2015 and the unaudited pro forma information does not purport to be indicative of future financial results. For The Three Months Ended March 31, 2016 2015 (In thousands, except per share data) Revenue $ 120,385 $ 112,558 Net income 10,081 33,452 Basic, earnings per share $ 0.34 $ 1.12 Diluted, earnings per share $ 0.33 $ 1.11

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2016
Investments Debt And Equity Securities [Abstract]
Schedule of Amortized Cost and Fair Value of Investment Securities	The following table details the difference between cost or adjusted/amortized cost and estimated fair value, by major investment category, at March 31, 2016 and December 31, 2015: Cost or Adjusted / Amortized Cost Gross Gains Gross Losses Fair Value (In thousands) March 31, 2016 U.S. government and agency securities $ 26,581 $ 157 $ 10 $ 26,728 States, municipalities and political subdivisions 215,952 2,981 255 218,678 Special revenue 57,323 203 432 57,094 Industrial and miscellaneous 145,934 1,761 213 147,482 Redeemable preferred stocks 3,023 54 22 3,055 Total fixed maturities 448,813 5,156 932 453,037 Nonredeemable preferred stocks 13,098 280 57 13,321 Equity securities 19,476 443 5,110 14,809 Total equity securities 32,574 723 5,167 28,130 Total investments $ 481,387 $ 5,879 $ 6,099 $ 481,167 Cost or Adjusted / Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) December 31, 2015 U.S. government and agency securities $ 25,474 $ 16 $ 387 $ 25,103 States, municipalities and political subdivisions 184,145 2,107 137 186,115 Special revenue 42,593 19 204 42,408 Industrial and miscellaneous 115,313 294 932 114,675 Redeemable preferred stocks 3,442 61 21 3,482 Total fixed maturities 370,967 2,497 1,681 371,783 Nonredeemable preferred stocks 12,443 338 43 12,738 Equity securities 19,996 398 4,819 15,575 Total equity securities 32,439 736 4,862 28,313 Total investments $ 403,406 $ 3,233 $ 6,543 $ 400,096
Schedule of Net Realized Gains (Losses) by Major Investment Category	The Company calculates the gain or loss realized on the sale of investments by comparing the sales price (fair value) to the cost or adjusted/amortized cost of the security sold. The Company determines the cost or adjusted/amortized cost of the security sold using the specific-identification method. The following tables detail the Company’s net realized gains (losses) by major investment category for the three months ended March 31, 2016 and 2015. 2016 2015 Gains (Losses) Fair Value at Sale Gains (Losses) Fair Value at Sale (In thousands) Three Months Ended March 31, Fixed maturities $ 1,130 $ 38,237 $ 37 $ 3,526 Equity securities 59 3,410 46 1,653 Total realized gains 1,189 41,647 83 5,179 Fixed maturities (6 ) 5,893 (86 ) 1,490 Equity securities (802 ) 2,160 — — Total realized losses (808 ) 8,053 (86 ) 1,490 Net realized gain (losses) $ 381 $ 49,700 $ (3 ) $ 6,669
Schedule of Amortized Cost and Fair Value of Investment Securities by Contractual Maturity	The table below summarizes the Company’s fixed maturities at March 31, 2016 by contractual maturity periods. Actual results may differ as issuers may have the right to call or prepay obligations, with or without penalties, prior to the contractual maturity of those obligations. March 31, 2016 Cost or Amortized Cost Percent of Total Fair Value Percent of Total (In thousands) (In thousands) Due in one year or less $ 44,102 10 % $ 44,103 10 % Due after one year through five years 195,446 43 % 196,481 43 % Due after five years through ten years 120,061 27 % 116,981 26 % Due after ten years 89,204 20 % 95,472 21 % Total $ 448,813 100 % $ 453,037 100 %
Summary of Net Investment Income	The following table summarizes the Company’s net investment income by major investment category for the three months ended March 31, 2016 and 2015, respectively: Three Months Ended March 31, 2016 2015 (In thousands) Fixed maturities $ (1,579 ) $ 1,479 Equity securities 3,953 425 Cash, cash equivalents and short-term investments 1 123 Other investments 27 17 Net investment income 2,402 2,044 Investment expenses 365 411 Net investment income, less investment expenses $ 2,037 $ 1,633
Aging of Gross Unrealized Investment Losses	The following tables present an aging of our unrealized investment losses by investment class as of March 31, 2016 and December 31, 2015: Less Than Twelve Months Twelve Months or More Number of Securities Gross Unrealized Losses Fair Value Number of Securities Gross Unrealized Losses Fair Value (In thousands) March 31, 2016 U.S. government and agency securities 10 $ 10 $ 10,002 — $ — $ — States, municipalities and political subdivisions 110 253 46,904 2 2 376 Special revenue 40 188 21,968 5 24 1,117 Industrial and miscellaneous 212 411 25,087 10 22 2,634 Redeemable preferred stocks 9 22 924 — — — Total fixed maturities 381 884 104,885 17 48 4,127 Nonredeemable preferred stocks 31 43 2,604 4 14 323 Equity securities 48 2,822 7,572 22 2,288 2,834 Total equity securities 79 2,865 10,176 26 2,302 3,157 Total investments 460 $ 3,749 $ 115,061 43 $ 2,350 $ 7,284 Less Than Twelve Months Twelve Months or More Number Securities Gross Unrealized Losses Fair Number Securities Gros s Unrealized Losses Fai r (In thousands) December 31, 2015 U.S. government and agency securities 19 $ 385 $ 19,849 2 $ 3 $ 397 States, municipalities and political subdivisions 14 50 10,979 1 3 164 Special revenue 141 870 73,312 5 61 1,318 Industrial and miscellaneous 134 279 60,203 10 9 1,646 Redeemable preferred stocks 9 21 950 — — — Total fixed maturities 317 1,605 165,293 18 76 3,525 Nonredeemable preferred stocks 19 29 1,560 5 14 250 Equity securities 48 2,975 8,416 20 1,844 2,680 Total equity securities 67 3,004 9,976 25 1,858 2,930 Total investments 384 $ 4,609 $ 175,269 43 $ 1,934 $ 6,455

Fair Value of Financial Instr30

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Financial Instruments	The following tables present information about the Company’s assets measured at fair value on a recurring basis. The Company assesses the levels for the investments at each measurement date, and transfers between levels are recognized on the actual date of the event or change in circumstances that caused the transfer in accordance with the Company’s accounting policy regarding the recognitions of transfers between levels of the fair value hierarchy. For the three months ended March 31, 2016 and the year ended December 31, 2015, there were no transfers in or out of Level 1, 2, and 3. March 31, 2016 Total Level 1 Level 2 Level 3 (in thousands) Fixed maturities investments: U.S. government and agency securities $ 26,728 $ 4,335 $ 22,393 $ — States, municipalities and political subdivisions 218,678 — 218,678 — Special revenue 57,094 6,730 50,364 — Industrial and miscellaneous 147,482 — 147,482 — Redeemable preferred stocks 3,055 3,055 — — Total fixed maturities investments $ 453,037 $ 14,120 $ 438,917 $ — Nonredeemable preferred stocks 13,321 13,321 — — Equity securities 14,809 14,809 — — Total equity securities $ 28,130 $ 28,130 $ — $ — Total investments $ 481,167 $ 42,250 $ 438,917 $ — December 31, 2015 Total Level 1 Level 2 Level 3 (in thousands) Assets: Certificate of deposits (1) $ 3,300 $ 3,300 $ — $ — Fixed maturities investments: U.S. government and agency securities $ 25,103 $ 22,361 $ 2,742 $ — States, municipalities and political subdivisions 186,115 — 186,115 — Special revenue 42,408 — 42,408 — Industrial and miscellaneous 114,675 — 114,675 — Redeemable preferred stocks 3,482 3,482 — — Total fixed maturities investments $ 375,083 $ 29,143 $ 345,940 $ — Nonredeemable preferred stocks 12,738 12,738 — — Equity securities 15,575 15,575 — — Total equity securities $ 28,313 $ 28,313 $ — $ — Total investments $ 403,396 $ 57,456 $ 345,940 $ — (1) Includes commercial paper with maturities of three months or less at time of purchase of $3,300 classified in cash and cash equivalents.

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2016
Property Plant And Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net consisted of the following at March 31, 2016 and December 31, 2015: March 31, 2016 December 31, 2015 (In thousands) Land $ 2,582 $ 2,582 Building 9,599 9,599 Computer hardware and software 3,101 2,502 Office furniture and equipment 670 634 Tenant and leasehold improvements 3,320 3,300 Vehicle fleet 791 693 Total, at cost 20,063 19,310 Less: accumulated depreciation and amortization 2,549 2,199 Property and equipment, net $ 17,514 $ 17,111

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings Per Share (EPS)	The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the periods indicated. Three Months Ended March 31, 2016 2015 Basic earnings per share: Net income attributable to common stockholders (000's) $ 7,423 $ 30,056 Weighted average shares outstanding 30,367,884 29,798,571 Basic earnings per share: $ 0.24 $ 1.01 Diluted earnings per share: Net income attributable to common stockholders (000's) $ 7,423 $ 30,056 Weighted average shares outstanding 30,367,884 29,798,571 Weighted average dilutive shares 123,695 317,364 Total weighted average dilutive shares 30,491,579 30,115,935 Diluted earnings per share: $ 0.24 $ 1.00

Deferred Policy Acquisition C33

Deferred Policy Acquisition Costs (Tables)	3 Months Ended
	Mar. 31, 2016
Insurance [Abstract]
Summary of Activity in Deferred Policy Acquisition Costs (DPAC)	The Company anticipates that its DPAC costs will be fully recoverable in the near term. The table below depicts the activity with regard to DPAC during the three month periods ended March 31, 2016 and 2015: Three Months Ended March 31, 2016 2015 (In thousands) Beginning Balance $ 34,800 $ 24,370 Policy acquisition costs deferred 19,319 14,566 Amortization (18,128 ) (13,093 ) Ending Balance $ 35,991 $ 25,843

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Components of Deferred Tax Assets (Liabilities)	The table below summarizes the significant components of our net deferred tax assets (liabilities): March 31, 2016 December 31, 2015 (in thousands) Deferred tax assets: Unearned premiums $ 19,670 $ 17,979 Tax-related discount on loss reserve 1,277 1,140 Unrealized loss — 1,617 Stock-based compensation 1,814 1,277 Other 1,413 256 Total deferred tax assets $ 24,174 $ 22,269 Deferred tax liabilities: Deferred acquisition costs 13,705 13,424 Unrealized gain 144 — Investment basis difference on purchase 841 — Intangibles 11,300 — Property and equipment 471 473 Other 405 408 Total deferred tax liabilities 26,866 14,305 Net deferred tax assets (liabilities) $ (2,692 ) $ 7,964

Reinsurance (Tables)

Reinsurance (Tables)	3 Months Ended
	Mar. 31, 2016
Insurance [Abstract]
Schedule of Reinsurance Transactions on Components of Condensed Consolidated Statements of Income and Comprehensive Income	The following table depicts written premiums, earned premiums and losses, showing the effects that the Company’s assumption transactions have on these components of the Company’s consolidated statements of operations and comprehensive income: Three Months Ended March 31, 2016 2015 (In thousands) Premium written: Direct $ 138,132 $ 101,501 Assumed 9,134 32,467 Ceded (732 ) (770 ) Net premium written $ 146,534 $ 133,198 Change in unearned premiums: Direct $ (10,387 ) $ (26,521 ) Assumed 15,064 18,554 Ceded (44,869 ) (23,742 ) Net decrease (increase) $ (40,192 ) $ (31,709 ) Premiums earned: Direct $ 127,745 $ 74,980 Assumed 24,198 51,021 Ceded (45,601 ) (24,512 ) Net premiums earned $ 106,342 $ 101,489 Losses and LAE incurred: Direct $ 51,766 $ 26,643 Assumed 15,203 5,896 Ceded (6 ) — Net losses and LAE incurred $ 66,963 $ 32,539
Effects of Reinsurance Transactions on Unpaid Losses and Loss Adjustment Expenses and Unearned Premiums	The following table highlights the effects that the Company’s assumption transactions have on unpaid losses and loss adjustment expenses and unearned premiums: March 31, 2016 December 31, 2015 (In thousands) Unpaid losses and loss adjustment expenses: Direct $ 78,269 $ 60,223 Assumed 30,209 23,499 Gross unpaid losses and LAE 108,478 83,722 Ceded (35 ) — Net unpaid losses and LAE $ 108,443 $ 83,722 Unearned premiums: Direct $ 298,485 $ 258,754 Assumed 28,675 43,739 Gross unearned premiums 327,160 302,493 Ceded (38,419 ) (78,517 ) Net unearned premiums $ 288,741 $ 223,976

Reserve for Unpaid Losses (Tabl

Reserve for Unpaid Losses (Tables)	3 Months Ended
	Mar. 31, 2016
Insurance [Abstract]
Summary of Reserve for Unpaid Losses	The table below summarizes the activity related to the Company’s reserve for unpaid losses: Three Months Ended March 31, 2016 2015 Balance, beginning of period $ 83,722 $ 51,469 Less: reinsurance recoverable on paid losses — — Net balance, beginning of period 83,722 51,469 Incurred related to: Current year 52,500 37,052 Prior years 14,463 (4,513 ) Total incurred 66,963 32,539 Paid related to: Current year 12,632 9,815 Prior years 29,610 12,347 Total paid 42,242 22,162 Net balance, end of period 108,443 61,846 Plus: reinsurance recoverable on unpaid losses — — Balance, end of period $ 108,443 $ 61,846

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Information Related to Stock Options and Restricted Stock	Stock Options A summary of information related to stock options and restricted stock outstanding at March 31, 2016 is as follows: Options Weighted - Average Grant Date Fair Value Balance at December 31, 2015 1,149,923 $ 2.99 Granted — Exercised — Balance at March 31, 2016 1,149,923 $ 2.99 Vested and exercisable as of March 31, 2016 1,149,923 $ 2.99 The Company had approximately $0 and $500 of unrecognized stock compensation expense at March 31, 2016 and 2015, respectively, related to non-vested stock-based compensation granted. The Company recognized approximately $0 and $1,450 of compensation expense during the three months ended March 31, 2016 and 2015, respectively. Stock-based compensation costs for restricted grants is measured based on the closing fair market value of our common stock on the date of grant. The Company recognizes stock-based compensation costs over the award’s requisite service period on a straight-line basis for time-based restricted stock grants. Restricted Stock Weighted-Average Grant-Date Fair Number of shares Value per Share Unvested, at December 31, 2015 1,125,000 $ 21.40 Granted — — Vested — — Canceled and forfeited — — Unvested, at March 31, 2016 1,125,000 $ 21.40

Acquisition - Additional Inform

Acquisition - Additional Information (Detail) - Zephyr Acquisition Company [Member] - USD ($) $ in Thousands	Mar. 21, 2016	Mar. 31, 2016
Business Acquisition [Line Items]
Percentage of outstanding stock acquired	100.00%
Cash payment for business acquisition	$ 134,000
Revenues of the acquiree since the acquisition date		$ 1,018
Net income of the acquiree since the acquisition date		$ 424

Acquisition - Schedule of Purch

Acquisition - Schedule of Purchase Price Allocation (Detail) - USD ($) $ in Thousands	Mar. 21, 2016	Mar. 31, 2016	Dec. 31, 2015
Purchase Consideration
Cash, net of cash acquired		$ 110,319
Assets acquired
Goodwill		$ 47,256	$ 8,028
Zephyr Acquisition Company [Member]
Purchase Consideration
Cash, net of cash acquired	$ 110,319
Assets acquired
Investments	76,742
Premiums and agent's receivable	1,403
Other assets	526
Prepaid reinsurance premiums	4,792
Intangible assets – value of business acquired	5,004
Intangible assets	24,203
Total assets acquired	112,670
Total liabilities assumed	(41,579)
Net assets acquired	71,091
Goodwill	39,228
Total purchase price	$ 110,319

Acquisition - Summary of Pro Fo

Acquisition - Summary of Pro Forma Information (Detail) - Zephyr Acquisition Company [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Business Acquisition [Line Items]
Revenue	$ 120,385	$ 112,558
Net income	$ 10,081	$ 33,452
Basic, earnings per share	$ 0.34	$ 1.12
Diluted, earnings per share	$ 0.33	$ 1.11

Investments - Schedule of Amort

Investments - Schedule of Amortized Cost and Fair Value of Investment Securities (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Gains	$ 5,879	$ 3,233
Gross Unrealized Losses	6,099	6,543
Fair Value	481,167
Investments	481,387	403,406
Fair Value	481,167	400,096
Fixed Maturity [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost or Adjusted / Amortized Cost		370,967
Gross Unrealized Gains		2,497
Gross Unrealized Losses		1,681
Fair Value		371,783
Fixed Maturities Excluding Certificate of Deposits [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost or Adjusted / Amortized Cost	448,813
Gross Unrealized Gains	5,156
Gross Unrealized Losses	932
Fair Value	453,037
Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost or Adjusted / Amortized Cost	32,574	32,439
Gross Unrealized Gains	723	736
Gross Unrealized Losses	5,167	4,862
Fair Value	28,130	28,313
U.S. government and agency securities [Member] | Fixed Maturity [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost or Adjusted / Amortized Cost	26,581	25,474
Gross Unrealized Gains	157	16
Gross Unrealized Losses	10	387
Fair Value	26,728	25,103
States, Municipalities and Political Subdivisions [Member] | Fixed Maturity [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost or Adjusted / Amortized Cost	215,952	184,145
Gross Unrealized Gains	2,981	2,107
Gross Unrealized Losses	255	137
Fair Value	218,678	186,115
Special Revenue [Member] | Fixed Maturity [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost or Adjusted / Amortized Cost	57,323	42,593
Gross Unrealized Gains	203	19
Gross Unrealized Losses	432	204
Fair Value	57,094	42,408
Industrial and Miscellaneous [Member] | Fixed Maturity [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost or Adjusted / Amortized Cost	145,934	115,313
Gross Unrealized Gains	1,761	294
Gross Unrealized Losses	213	932
Fair Value	147,482	114,675
Redeemable Preferred Stocks [Member] | Fixed Maturity [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost or Adjusted / Amortized Cost	3,023	3,442
Gross Unrealized Gains	54	61
Gross Unrealized Losses	22	21
Fair Value	3,055	3,482
Nonredeemable Preferred Stocks [Member] | Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost or Adjusted / Amortized Cost	13,098	12,443
Gross Unrealized Gains	280	338
Gross Unrealized Losses	57	43
Fair Value	13,321	12,738
Common Stock [Member] | Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost or Adjusted / Amortized Cost	19,476	19,996
Gross Unrealized Gains	443	398
Gross Unrealized Losses	5,110	4,819
Fair Value	$ 14,809	$ 15,575

Investments - Schedule of Net R

Investments - Schedule of Net Realized Gains (Losses) by Major Investment Category (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Total realized gains	$ 1,189	$ 83
Total realized losses	(808)	(86)
Net realized gain (losses)	381	(3)
Total realized gains, Fair Value at Sale	41,647	5,179
Total realized losses, Fair Value at Sale	8,053	1,490
Net realized gain (losses), Fair Value at Sale	49,700	6,669
Fixed Maturity [Member]
Schedule of Available-for-sale Securities [Line Items]
Total realized gains	1,130	37
Total realized losses	(6)	(86)
Total realized gains, Fair Value at Sale	38,237	3,526
Total realized losses, Fair Value at Sale	5,893	1,490
Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Total realized gains	59	46
Total realized losses	(802)
Total realized gains, Fair Value at Sale	3,410	$ 1,653
Total realized losses, Fair Value at Sale	$ 2,160

Investments - Schedule of Amo43

Investments - Schedule of Amortized Cost and Fair Value of Investment Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Investments Debt And Equity Securities [Abstract]
Due in one year or less, Cost or Amortized Cost	$ 44,102
Due after one year through five years, Cost or Amortized Cost	195,446
Due after five years through ten years, Cost or Amortized Cost	120,061
Due after ten years, Cost or Amortized Cost	89,204
Total, Cost or Amortized Cost	$ 448,813	$ 370,967
Due in one year or less, Percentage of Total	10.00%
Due after one year through five years, Percentage of Total	43.00%
Due after five years through ten years, Percentage of Total	27.00%
Due after ten years, Percentage of Total	20.00%
Total, Percentage	100.00%
Due in one year or less, Fair Value	$ 44,103
Due after one year through five years, Fair Value	196,481
Due after five years through ten years, Fair Value	116,981
Due after ten years, Fair Value	95,472
Total, Fair Value	$ 453,037	$ 371,783
Due in one year or less, Percentage of Total	10.00%
Due after one year through five years, Percentage of Total	43.00%
Due after five years through ten years, Percentage of Total	26.00%
Due after ten years, Percentage of Total	21.00%
Total, Percentage	100.00%

Investments - Summary of Net In

Investments - Summary of Net Investment Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Gross investment income	$ 2,402	$ 2,044
Investment expenses	365	411
Net investment income, less investment expenses	2,037	1,633
Fixed Maturity [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross investment income (loss)	(1,579)	1,479
Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross investment income	3,953	425
Cash and Cash Equivalents [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross investment income	1	123
Other Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross investment income	$ 27	$ 17

Investments - Aging of Gross Un

Investments - Aging of Gross Unrealized Investment Losses (Detail) $ in Thousands	Mar. 31, 2016USD ($)Security	Dec. 31, 2015USD ($)Security
Schedule of Available-for-sale Securities [Line Items]
Number of Securities, Less Than Twelve Months | Security	460	384
Gross Unrealized Losses, Less Than Twelve Months	$ 3,749	$ 4,609
Fair Value, Less Than Twelve Months	$ 115,061	$ 175,269
Number of Securities, Twelve Months or Greater | Security	43	43
Gross Unrealized Losses, Twelve Months or Greater	$ 2,350	$ 1,934
Fair Value, Twelve Months or Greater	$ 7,284	$ 6,455
Fixed Maturity [Member]
Schedule of Available-for-sale Securities [Line Items]
Number of Securities, Less Than Twelve Months | Security	381	317
Gross Unrealized Losses, Less Than Twelve Months	$ 884	$ 1,605
Fair Value, Less Than Twelve Months	$ 104,885	$ 165,293
Number of Securities, Twelve Months or Greater | Security	17	18
Gross Unrealized Losses, Twelve Months or Greater	$ 48	$ 76
Fair Value, Twelve Months or Greater	$ 4,127	$ 3,525
Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Number of Securities, Less Than Twelve Months | Security	79	67
Gross Unrealized Losses, Less Than Twelve Months	$ 2,865	$ 3,004
Fair Value, Less Than Twelve Months	$ 10,176	$ 9,976
Number of Securities, Twelve Months or Greater | Security	26	25
Gross Unrealized Losses, Twelve Months or Greater	$ 2,302	$ 1,858
Fair Value, Twelve Months or Greater	$ 3,157	$ 2,930
U.S. government and agency securities [Member] | Fixed Maturity [Member]
Schedule of Available-for-sale Securities [Line Items]
Number of Securities, Less Than Twelve Months | Security	10	19
Gross Unrealized Losses, Less Than Twelve Months	$ 10	$ 385
Fair Value, Less Than Twelve Months	$ 10,002	$ 19,849
Number of Securities, Twelve Months or Greater | Security		2
Gross Unrealized Losses, Twelve Months or Greater		$ 3
Fair Value, Twelve Months or Greater		$ 397
States, Municipalities and Political Subdivisions [Member] | Fixed Maturity [Member]
Schedule of Available-for-sale Securities [Line Items]
Number of Securities, Less Than Twelve Months | Security	110	14
Gross Unrealized Losses, Less Than Twelve Months	$ 253	$ 50
Fair Value, Less Than Twelve Months	$ 46,904	$ 10,979
Number of Securities, Twelve Months or Greater | Security	2	1
Gross Unrealized Losses, Twelve Months or Greater	$ 2	$ 3
Fair Value, Twelve Months or Greater	$ 376	$ 164
Special Revenue [Member] | Fixed Maturity [Member]
Schedule of Available-for-sale Securities [Line Items]
Number of Securities, Less Than Twelve Months | Security	40	141
Gross Unrealized Losses, Less Than Twelve Months	$ 188	$ 870
Fair Value, Less Than Twelve Months	$ 21,968	$ 73,312
Number of Securities, Twelve Months or Greater | Security	5	5
Gross Unrealized Losses, Twelve Months or Greater	$ 24	$ 61
Fair Value, Twelve Months or Greater	$ 1,117	$ 1,318
Industrial and Miscellaneous [Member] | Fixed Maturity [Member]
Schedule of Available-for-sale Securities [Line Items]
Number of Securities, Less Than Twelve Months | Security	212	134
Gross Unrealized Losses, Less Than Twelve Months	$ 411	$ 279
Fair Value, Less Than Twelve Months	$ 25,087	$ 60,203
Number of Securities, Twelve Months or Greater | Security	10	10
Gross Unrealized Losses, Twelve Months or Greater	$ 22	$ 9
Fair Value, Twelve Months or Greater	$ 2,634	$ 1,646
Redeemable Preferred Stocks [Member] | Fixed Maturity [Member]
Schedule of Available-for-sale Securities [Line Items]
Number of Securities, Less Than Twelve Months | Security	9	9
Gross Unrealized Losses, Less Than Twelve Months	$ 22	$ 21
Fair Value, Less Than Twelve Months	$ 924	$ 950
Nonredeemable Preferred Stocks [Member] | Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Number of Securities, Less Than Twelve Months | Security	31	19
Gross Unrealized Losses, Less Than Twelve Months	$ 43	$ 29
Fair Value, Less Than Twelve Months	$ 2,604	$ 1,560
Number of Securities, Twelve Months or Greater | Security	4	5
Gross Unrealized Losses, Twelve Months or Greater	$ 14	$ 14
Fair Value, Twelve Months or Greater	$ 323	$ 250
Equity Investment [Member] | Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Number of Securities, Less Than Twelve Months | Security	48	48
Gross Unrealized Losses, Less Than Twelve Months	$ 2,822	$ 2,975
Fair Value, Less Than Twelve Months	$ 7,572	$ 8,416
Number of Securities, Twelve Months or Greater | Security	22	20
Gross Unrealized Losses, Twelve Months or Greater	$ 2,288	$ 1,844
Fair Value, Twelve Months or Greater	$ 2,834	$ 2,680

Fair Value of Financial Instr46

Fair Value of Financial Instruments - Schedule of Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale debt securities		$ 453,037	$ 371,783
Available for sale equity securities		28,130	28,313
Available for sale securities		481,167
Cash Equivalent and available for sale debt securities			375,083
Cash equivalent and available for sale securities			403,396
Certificates of Deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalent	[1]		3,300
Nonredeemable Preferred Stocks [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale equity securities		13,321	12,738
Equity Investment [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale equity securities		14,809	15,575
Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale equity securities		28,130	28,313
Available for sale securities		42,250
Cash Equivalent and available for sale debt securities			29,143
Cash equivalent and available for sale securities			57,456
Level 1 [Member] | Certificates of Deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalent	[1]		3,300
Level 1 [Member] | Nonredeemable Preferred Stocks [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale equity securities		13,321	12,738
Level 1 [Member] | Equity Investment [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale equity securities		14,809	15,575
Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale securities		438,917
Cash Equivalent and available for sale debt securities			345,940
Cash equivalent and available for sale securities			345,940
Fixed Maturity [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale debt securities		453,037
Available for sale securities			371,783
Fixed Maturity [Member] | U.S. government and agency securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale debt securities		26,728	25,103
Available for sale securities		26,728	25,103
Fixed Maturity [Member] | States, Municipalities and Political Subdivisions [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale debt securities		218,678	186,115
Available for sale securities		218,678	186,115
Fixed Maturity [Member] | Special Revenue [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale debt securities		57,094	42,408
Available for sale securities		57,094	42,408
Fixed Maturity [Member] | Industrial and Miscellaneous [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale debt securities		147,482	114,675
Available for sale securities		147,482	114,675
Fixed Maturity [Member] | Redeemable Preferred Stocks [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale debt securities		3,055	3,482
Available for sale securities		3,055	3,482
Fixed Maturity [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale debt securities		14,120
Fixed Maturity [Member] | Level 1 [Member] | U.S. government and agency securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale debt securities		4,335	22,361
Fixed Maturity [Member] | Level 1 [Member] | Special Revenue [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale debt securities		6,730
Fixed Maturity [Member] | Level 1 [Member] | Redeemable Preferred Stocks [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale debt securities		3,055	3,482
Fixed Maturity [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale debt securities		438,917
Fixed Maturity [Member] | Level 2 [Member] | U.S. government and agency securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale debt securities		22,393	2,742
Fixed Maturity [Member] | Level 2 [Member] | States, Municipalities and Political Subdivisions [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale debt securities		218,678	186,115
Fixed Maturity [Member] | Level 2 [Member] | Special Revenue [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale debt securities		50,364	42,408
Fixed Maturity [Member] | Level 2 [Member] | Industrial and Miscellaneous [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale debt securities		$ 147,482	$ 114,675
[1]	Includes commercial paper with maturities of three months or less at time of purchase of $3,300 classified in cash and cash equivalents

Fair Value of Financial Instr47

Fair Value of Financial Instruments - Schedule of Fair Value of Financial Instruments (Parenthetical) (Detail) $ in Thousands	Mar. 31, 2016USD ($)
Commercial Paper [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalent	$ 3,300

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Total, at cost	$ 20,063	$ 19,310
Less: accumulated depreciation and amortization	2,549	2,199
Property and equipment, net	17,514	17,111
Land [Member]
Property, Plant and Equipment [Line Items]
Total, at cost	2,582	2,582
Building [Member]
Property, Plant and Equipment [Line Items]
Total, at cost	9,599	9,599
Computer Hardware and Software [Member]
Property, Plant and Equipment [Line Items]
Total, at cost	3,101	2,502
Office Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Total, at cost	670	634
Tenant and Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total, at cost	3,320	3,300
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Total, at cost	$ 791	$ 693

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)aft²Building	Mar. 31, 2015USD ($)
Property Plant And Equipment Useful Life And Values [Abstract]
Depreciation expense | $	$ 398	$ 294
Number of acres of land purchased | a	13
Number of buildings | Building	2
Gross area of acquired property | ft²	148,000

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Computation of Basic and Diluted Earnings Per Share (EPS) (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Basic earnings per share:
Net income attributable to common stockholders (000's)	$ 7,423	$ 30,056
Weighted average shares outstanding	30,367,884	29,798,571
Basic earnings per share:	$ 0.24	$ 1.01
Diluted earnings per share:
Net income attributable to common stockholders (000's)	$ 7,423	$ 30,056
Weighted average shares outstanding	30,367,884	29,798,571
Weighted average dilutive shares	123,695	317,364
Total weighted average dilutive shares	30,491,579	30,115,935
Diluted earnings per share:	$ 0.24	$ 1

Deferred Policy Acquisition C51

Deferred Policy Acquisition Costs - Summary of Activity in Deferred Policy Acquisition Costs (DPAC) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Insurance [Abstract]
Beginning Balance	$ 34,800	$ 24,370
Policy acquisition costs deferred	19,319	14,566
Amortization	(18,128)	(13,093)
Ending Balance	$ 35,991	$ 25,843

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 4,617,000	$ 18,236,000
Annual effective tax rate	38.30%	37.80%
Uncertain tax positions	$ 0		$ 0

Income Taxes - Components of De

Income Taxes - Components of Deferred Tax Assets (Liabilities) (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Deferred tax assets:
Unearned premiums	$ 19,670	$ 17,979
Tax-related discount on loss reserve	1,277	1,140
Unrealized loss		1,617
Stock-based compensation	1,814	1,277
Other	1,413	256
Total deferred tax assets	24,174	22,269
Deferred tax liabilities:
Deferred acquisition costs	13,705	13,424
Unrealized gain	144
Investment basis difference on purchase	841
Intangibles	11,300
Property and equipment	471	473
Other	405	408
Total deferred tax liabilities	26,866	14,305
Net deferred tax liabilities	$ (2,692)
Net deferred tax assets		$ 7,964

Reinsurance - Additional inform

Reinsurance - Additional information (Detail)	3 Months Ended		12 Months Ended
	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)Reinsurer	Dec. 31, 2014USD ($)	Aug. 31, 2015USD ($)	Apr. 30, 2015USD ($)
Reinsurance Premiums For Insurance Companies, by Product Segment Line Items
Primary retention of losses and loss adjustment expenses				$ 15,000,000
Purchase of reinsurance from third party	$ 45,601,000	$ 24,512,000
Aggregate participation, losses and loss adjustment expenses	14,463,000	(4,513,000)
Losses and loss adjustment expenses including retention	108,443,000	$ 61,846,000	$ 83,722,000	51,469,000
Reinsurance payable	$ 27,626,000		$ 60,210,000
Number of reinstatements available | Reinsurer			2
Insurance Claims [Member]
Reinsurance Premiums For Insurance Companies, by Product Segment Line Items
Losses and loss adjustment expenses including retention			$ 1,000,000
Catastrophe [Member]
Reinsurance Premiums For Insurance Companies, by Product Segment Line Items
Purchase of reinsurance from third party			2,300,000,000
Losses and loss adjustment expenses including retention				990,000,000
Purchased reinstatement premium				185,000,000
Reinsurance payable					$ 76,900,000,000
Osprey [Member]
Reinsurance Premiums For Insurance Companies, by Product Segment Line Items
Primary retention of losses and loss adjustment expenses				6,000,000
Primary retention				4,000,000
Catastrophe excess of loss reinsurance				0
Heritage P&C [Member]
Reinsurance Premiums For Insurance Companies, by Product Segment Line Items
Primary retention				2,000,000
Catastrophe excess of loss reinsurance				2,000,000
Property Per Risk Coverage [Member]
Reinsurance Premiums For Insurance Companies, by Product Segment Line Items
Primary retention of losses and loss adjustment expenses			35,000,000
Reinsurance payable			27,000,000
Coverage limit			9,000,000
Property Per Risk Coverage [Member] | Catastrophe [Member]
Reinsurance Premiums For Insurance Companies, by Product Segment Line Items
Losses and loss adjustment expenses including retention			1,800,000,000
Purchased reinstatement premium			440,000,000
Property Per Risk Coverage [Member] | Osprey [Member]
Reinsurance Premiums For Insurance Companies, by Product Segment Line Items
Primary retention of losses and loss adjustment expenses			20,000,000
Primary retention			10,000,000
Property Per Risk Coverage [Member] | Heritage P&C [Member]
Reinsurance Premiums For Insurance Companies, by Product Segment Line Items
Primary retention			5,000,000
Catastrophe excess of loss reinsurance			$ 5,000,000
FHCF Layer [Member]
Reinsurance Premiums For Insurance Companies, by Product Segment Line Items
Catastrophe excess of loss reinsurance				$ 181,000,000
Percentage of maximum provisional limit				90.00%
Estimated provisional limit percentage calculation base amount				$ 484,000,000
Purchased coverage price				48,000,000
FHCF Layer [Member] | Maximum [Member]
Reinsurance Premiums For Insurance Companies, by Product Segment Line Items
Estimated maximum provisional limit, amount				436,000,000
FHCF Layer [Member] | Property Per Risk Coverage [Member]
Reinsurance Premiums For Insurance Companies, by Product Segment Line Items
Percentage comprising aggregate participation			75.00%
Catastrophe excess of loss reinsurance			$ 336,000,000
Percentage of maximum provisional limit			75.00%
Estimated provisional limit percentage calculation base amount			$ 920,000,000
FHCF Layer [Member] | Property Per Risk Coverage [Member] | Maximum [Member]
Reinsurance Premiums For Insurance Companies, by Product Segment Line Items
Estimated maximum provisional limit, amount			690,000,000
Layers Below FHCF [Member]
Reinsurance Premiums For Insurance Companies, by Product Segment Line Items
Purchase of reinsurance from third party				185,000,000
Layers Below FHCF [Member] | Property Per Risk Coverage [Member]
Reinsurance Premiums For Insurance Companies, by Product Segment Line Items
Purchase of reinsurance from third party			$ 440,000,000
Cat Bond Layer Alongside FHCF [Member] | Property Per Risk Coverage [Member] | Catastrophe [Member]
Reinsurance Premiums For Insurance Companies, by Product Segment Line Items
Agreement of coverage			3 years
Reinsurance agreement			3 years
Cat Bond Layer Alongside FHCF [Member] | Property Per Risk Coverage [Member] | Notes Due April 2017 [Member] | Catastrophe [Member]
Reinsurance Premiums For Insurance Companies, by Product Segment Line Items
Collateralized by a reinsurance trust						$ 277,500,000
Cat Bond Layer Alongside FHCF [Member] | Property Per Risk Coverage [Member] | Class A Notes Due April 2017 [Member] | Catastrophe [Member]
Reinsurance Premiums For Insurance Companies, by Product Segment Line Items
Collateralized by a reinsurance trust						150,000,000
Cat Bond Layer Alongside FHCF [Member] | Property Per Risk Coverage [Member] | Class B Notes Due April 2017 [Member] | Catastrophe [Member]
Reinsurance Premiums For Insurance Companies, by Product Segment Line Items
Collateralized by a reinsurance trust						97,500,000
Cat Bond Layer Alongside FHCF [Member] | Property Per Risk Coverage [Member] | Class C Notes Due April 2017 [Member] | Catastrophe [Member]
Reinsurance Premiums For Insurance Companies, by Product Segment Line Items
Collateralized by a reinsurance trust						$ 30,000,000
Cat Bond Layer Above FHCF [Member] | Property Per Risk Coverage [Member] | Citrus [Member] | Class A Notes [Member]
Reinsurance Premiums For Insurance Companies, by Product Segment Line Items
Collateralized by a reinsurance trust			$ 150,000,000
Coverage of first catastrophe reinsurance agreement			150,000,000
Additional coverage of second catastrophe reinsurance agreement			50,000,000
Aggregate Coverage [Member] | Catastrophe [Member]
Reinsurance Premiums For Insurance Companies, by Product Segment Line Items
Catastrophe excess of loss reinsurance				940,000,000
Purchase of reinsurance from third party				105,000,000
Aggregate participation, losses and loss adjustment expenses				825,000,000
Aggregate Coverage [Member] | Osprey [Member] | Catastrophe [Member]
Reinsurance Premiums For Insurance Companies, by Product Segment Line Items
Coverage of reinsurance agreement				20,000,000
Aggregate Coverage [Member] | Property Per Risk Coverage [Member] | Catastrophe [Member]
Reinsurance Premiums For Insurance Companies, by Product Segment Line Items
Purchase of reinsurance from third party			125,000,000
Aggregate participation, losses and loss adjustment expenses			1,648,000,000
Cat Bond Layer [Member] | Osprey [Member]
Reinsurance Premiums For Insurance Companies, by Product Segment Line Items
Catastrophe coverage of reinsurance agreement				25,000,000
Cat Bond Layer [Member] | Citrus [Member]
Reinsurance Premiums For Insurance Companies, by Product Segment Line Items
Coverage of first catastrophe reinsurance agreement				150,000,000
Additional coverage of second catastrophe reinsurance agreement				$ 50,000,000
Facultative Reinsurance [Member] | Minimum [Member]
Reinsurance Premiums For Insurance Companies, by Product Segment Line Items
Reinsurance payable			10,000,000
Facultative reinsurance purchase amount			$ 10,000,000

Reinsurance - Schedule of Reins

Reinsurance - Schedule of Reinsurance Transactions on Components of Condensed Consolidated Statements of Income and Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Premium written:
Direct	$ 138,132	$ 101,501
Assumed	9,134	32,467
Ceded	(732)	(770)
Net premium written	146,534	133,198
Change in unearned premiums:
Direct	(10,387)	(26,521)
Assumed	15,064	18,554
Ceded	(44,869)	(23,742)
Net decrease (increase)	(40,192)	(31,709)
Premiums earned:
Direct	127,745	74,980
Assumed	24,198	51,021
Ceded	(45,601)	(24,512)
Net premiums earned	106,342	101,489
Losses and LAE incurred:
Direct	51,766	26,643
Assumed	15,203	5,896
Ceded	(6)
Net losses and LAE incurred	$ 66,963	$ 32,539

Reinsurance - Effects of Reinsu

Reinsurance - Effects of Reinsurance Transactions on Unpaid Losses and Loss Adjustment Expenses and Unearned Premiums (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Unpaid losses and loss adjustment expenses:
Direct	$ 78,269	$ 60,223
Assumed	30,209	23,499
Gross unpaid losses and LAE	108,478	83,722
Ceded	(35)
Net unpaid losses and LAE	108,443	83,722
Unearned premiums:
Direct	298,485	258,754
Assumed	28,675	43,739
Gross unearned premiums	327,160	302,493	$ 302,493
Ceded	(38,419)	(78,517)
Net unearned premiums	$ 288,741	$ 223,976

Reserve for Unpaid Losses - Sum

Reserve for Unpaid Losses - Summary of Reserve for Unpaid Losses (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Insurance [Abstract]
Balance, beginning of period	$ 83,722	$ 51,469	$ 51,469
Less: reinsurance recoverable on paid losses	0	0	0
Net balance, beginning of period	83,722	51,469	51,469
Incurred related to:
Current year	52,500	37,052
Prior years	14,463	(4,513)
Total incurred	66,963	32,539
Paid related to:
Current year	12,632	9,815
Prior years	29,610	12,347
Total paid	42,242	22,162
Net balance, end of period	108,443	61,846	83,722
Plus: reinsurance recoverable on unpaid losses	0	0
Balance, end of period	$ 108,443	$ 61,846	$ 83,722

Reserve for Unpaid Losses - Add

Reserve for Unpaid Losses - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Insurance [Abstract]
Increase (decrease) in losses incurred	$ 14,463	$ (4,513)
Deficiency related to loss development factor	$ 6,220		$ 8,243

Other Liabilities - Additional

Other Liabilities - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Other liabilities	$ 27,995	$ 17,885
Citizens Layer [Member]
Other liabilities	$ 11,816	$ 4,920

Statutory Accounting and Regu60

Statutory Accounting and Regulations - Additional Information (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Insurance [Abstract]
Statutory net (loss) income of insurance subsidiary	$ (5,300,000)	$ 45,400,000
Statutory accounting practices, capital and surplus requirements of insurance subsidiary	Greater of $15 million or 10% of its liabilities.
Minimum required amount of capital and surplus maintained by the insurance subsidiary	$ 15,000,000
Statutory capital and surplus requirements, percentage	10.00%
Statutory capital and surplus	$ 211,300,000	$ 216,600,000

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Immediate Family Member Of Management Or Principal Owner [Member]
Related Party Transaction [Line Items]
Payments for management services	$ 35	$ 31

Employee Benefit Plan - Additio

Employee Benefit Plan - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Defined Contribution Plan Disclosure [Line Items]
Percentage of contribution on employee salary	3.00%
Contribution for participating employees	$ 167	$ 76
Medical premium cost	683	$ 231
Unpaid claims	455
Stop loss coverage per employee	60
Defined contribution plan, aggregate limit for losses	$ 1,500,000
Defined contribution plan, aggregate stop loss commences threshold percentage	125.00%
Maximum [Member]
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, aggregate limit for losses in excess provided amount	$ 1,000,000

Equity - Additional Information

Equity - Additional Information (Detail) - USD ($)	Mar. 02, 2016	Dec. 17, 2015	Sep. 14, 2015	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2015
Class Of Stock [Line Items]
Common stock, shares authorized				50,000,000	50,000,000	50,000,000
Preferred stock, shares authorized				5,000,000
Common stock, shares outstanding				29,829,110	30,441,410	30,441,410
Treasury stock, shares				612,300
Additional paid-in capital				$ 203,832,000	$ 202,628,000	$ 202,628,000
Stock options, outstanding				1,149,923	1,149,923	1,149,923
Stock Repurchase Program, Authorized Amount			$ 20,000,000
Stock Repurchase Program Expiration Date			Dec. 31, 2016
Stock Repurchased During Period, Shares				612,300
Stock Repurchased During Period, Value				$ 9,635,000
Cash dividend, declared date	Mar. 2, 2016	Dec. 17, 2015
Dividend payable, record date	Mar. 15, 2016	Dec. 31, 2015
Cash dividend, payable date	Apr. 5, 2016	Jan. 13, 2016
Cash dividend, declared	$ 0.05	$ 0.05
Dividend charged to retained earning				$ 1,579,000	$ 1,578,000
Restricted Stock
Class Of Stock [Line Items]
Unvested restricted common stock issued				1,125,000	1,125,000	1,125,000
Restricted stock grants						1,125,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	May. 22, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum tenure of stock option from the date of grant	10 years
Exercisable period of vested awards	30 days
Unrecognized stock compensation expense	$ 18,912
Stock-based compensation expense	$ 1,204	$ 0
Unrecognized stock compensation expense, period	4 years 8 months 12 days
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock compensation expense	$ 0	500
Stock-based compensation expense	$ 0	$ 1,450
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options, Vesting period	1 year
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options, Vesting period	5 years
Omnibus Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for issuance				2,981,737
Shares available for grant	170,814		170,814

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Information Related to Stock Option and Restricted Stock (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2015	Mar. 31, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options, outstanding	1,149,923	1,149,923
Vested and exercisable, Shares		1,149,923
Weighted-Average Grant Date Fair Value	$ 2.99	$ 2.99
Weighted-Average Grant Date Fair Value, Vested and exercisable		$ 2.99
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested restricted common stock issued	1,125,000	1,125,000
Granted, shares	1,125,000
Weighted-Average Grant Date Fair Value	$ 21.40	$ 21.40

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($)	May. 04, 2016	May. 03, 2016	Mar. 02, 2016	Dec. 17, 2015	Sep. 14, 2015	Mar. 31, 2016
Subsequent Event [Line Items]
Stock Repurchase Program Expiration Date					Dec. 31, 2016
Stock Repurchase Program, Authorized Amount					$ 20,000,000
Stock repurchase program, remaining authorized repurchase amount						$ 10,000,000
Cash dividend, declared date			Mar. 2, 2016	Dec. 17, 2015
Cash dividend, payable date			Apr. 5, 2016	Jan. 13, 2016
Dividend payable, record date			Mar. 15, 2016	Dec. 31, 2015
Cash dividend, declared			$ 0.05	$ 0.05
Subsequent Event [Member]
Subsequent Event [Line Items]
Stock repurchase program, additional authorized repurchase amount		$ 50,000,000
Stock Repurchase Program Expiration Date		Dec. 31, 2017
Cash dividend, declared date	May 4, 2016
Cash dividend, payable date	Jul. 1, 2016
Dividend payable, record date	Jun. 15, 2016
Cash dividend, declared	$ 0.06