James River (JRVR) 10-K10 Mar 162015 FY Annual reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2015	Mar. 02, 2016	Jun. 30, 2015
Document And Entity Information [Abstract]
Entity Registrant Name	James River Group Holdings, Ltd.
Entity Central Index Key	1,620,459
Trading Symbol	jrvr
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding		28,941,547
Entity Public Float			$ 359,452,785
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,015

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fixed maturity securities:
Available-for-sale, at fair value (amortized cost: 2015 - $897,445; 2014 - $737,916)	$ 899,660	$ 756,963
Trading, at fair value (amortized cost: 2015 - $5,053; 2014 - $7,324)	5,046	7,388
Equity securities available-for-sale, at fair value (cost: 2015 - $69,830; 2014 - $64,348)	74,111	67,905
Bank loan participations held-for-investment, at amortized cost, net of allowance	191,700	239,511
Short-term investments	19,270	131,856
Other invested assets	54,504	33,622
Total invested assets	1,244,291	1,237,245
Cash and cash equivalents	106,406	73,383
Accrued investment income	8,068	7,273
Premiums receivable and agents' balances, net	176,685	162,527
Reinsurance recoverable on unpaid losses	131,788	127,254
Reinsurance recoverable on paid losses	11,298	1,725
Prepaid reinsurance premiums	44,146	29,445
Deferred policy acquisition costs	60,754	60,202
Intangible assets, net	39,528	40,125
Goodwill	181,831	181,831
Income tax receivable	2,094	4,198
Deferred tax assets, net	468	451
Other assets	48,140	33,633
Total assets	2,055,497	1,959,292
Liabilities:
Reserve for losses and loss adjustment expenses	785,322	716,296
Unearned premiums	301,104	277,579
Payables to reinsurers	19,867	19,272
Senior debt	88,300	88,300
Junior subordinated debt	104,055	104,055
Accrued expenses	29,476	31,107
Other liabilities	46,335	34,762
Total liabilities	$ 1,374,459	$ 1,271,371
Commitments and contingent liabilities
Shareholders' equity:
Common Shares - $0.0002 par value; 200,000,000 shares authorized. 2015 and 2014: 28,941,547 and 28,540,350 shares issued and outstanding, respectively	$ 6	$ 6
Preferred Shares - 2015 and 2014: $0.00125 par value; 20,000,000 shares authorized; no shares issued and outstanding
Additional paid-in capital	$ 630,820	$ 628,236
Retained earnings	47,026	41,323
Accumulated other comprehensive income	3,186	18,356
Total shareholders' equity	681,038	687,921
Total liabilities and shareholders' equity	$ 2,055,497	$ 1,959,292

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Available-for-sale debt securities, amortized cost (in dollars)	$ 897,445	$ 737,916
Trading securities, debt, amortized cost (in dollars)	5,053	7,324
Available-for-sale equity securities, amortized cost (in dollars)	$ 69,830	$ 64,348
Common stock, par value (in dollars per share)	$ 0.0002	$ 0.0002
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	28,941,547	28,540,350
Common stock, shares outstanding	28,941,547	28,540,350
Preferred stock par value (in dollars per share)	$ 0.00125	$ 0.00125
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues:
Gross written premiums	$ 572,194	$ 518,767	$ 368,518
Ceded written premiums	(101,162)	(68,684)	(43,352)
Net written premiums	471,032	450,083	325,166
Change in net unearned premiums	(9,827)	(53,871)	2,912
Net earned premiums	461,205	396,212	328,078
Net investment income	44,835	43,005	45,373
Net realized investment (losses) gains	(4,547)	(1,336)	12,619
Other income	3,428	1,122	222
Total revenues	504,921	439,003	386,292
Expenses:
Losses and loss adjustment expenses	279,016	237,368	184,486
Other operating expenses	157,803	133,055	114,804
Other expenses	730	16,012	677
Interest expense	6,999	6,347	6,777
Amortization of intangible assets	597	597	2,470
Total expenses	445,145	393,379	309,214
Income before income taxes	59,776	45,624	77,078
Income tax expense (benefit):
Current	5,357	4,700	7,260
Deferred	922	(3,761)	2,481
Total income tax expense	6,279	939	9,741
Net income	53,497	44,685	67,337
Other comprehensive income:
Net unrealized gains (losses), net of taxes of $(939) in 2015, $3,489 in 2014 and $(8,713) in 2013	(15,170)	11,155	(39,245)
Total comprehensive income	$ 38,327	$ 55,840	$ 28,092
Per share data:
Basic (in dollars per share)	$ 1.87	$ 1.57	$ 2.21
Diluted (in dollars per share)	1.82	1.55	$ 2.21
Dividend declared (in dollars per share)	$ 1.64	$ 2.45
Weighted-average common shares outstanding:
Basic (in shares)	28,662,051	28,540,350	30,442,950
Diluted (in shares)	29,334,918	28,810,301	30,500,800

Consolidated Statements of Inc5

Consolidated Statements of Income and Comprehensive Income (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Statement [Abstract]
Tax on net unrealized gains (losses)	$ (939)	$ 3,489	$ (8,713)

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Common Shares	Preferred stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income	Total James River Group Holdings, Ltd. Shareholders' Equity	Non- Controlling Interest	Total
Balances at Dec. 31, 2012	$ 7		$ 738,020	$ (701)	$ 46,446	$ 783,772	$ 268	$ 784,040
Balance (in shares) at Dec. 31, 2012	36,030,000
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Net income				67,337		67,337		67,337
Other comprehensive income (loss)					(39,245)	(39,245)		(39,245)
Common shares repurchase (Note 10)	$ (1)		(110,759)			(110,760)		(110,760)
Repurchase of non-controlling interest (Note 12)			(321)			(321)	(208)	(529)
Repurchase of non-controlling interest (in shares)	(7,500,000)
Exchange of subsidiary common shares for common shares (Note 10)			60			60	$ (60)
Exchange of subsidiary common shares for common shares (in shares)	10,350
Exercise of stock options and related excess tax benefits (in shares)
Vesting Of Restricted Stock Units And Related Excess Tax Benefits Value
Vesting Of Restricted Stock Units And Related Excess Tax Benefits Shares (in shares)
Compensation expense under share incentive plan			647			647		647
Balances at Dec. 31, 2013	$ 6		627,647	66,636	7,201	701,490		701,490
Balance (in shares) at Dec. 31, 2013	28,540,350
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Net income				44,685		44,685		44,685
Other comprehensive income (loss)					11,155	11,155		11,155
Dividends				(69,998)		(69,998)		(69,998)
Compensation expense under share incentive plan			589			589		589
Balances at Dec. 31, 2014	$ 6		628,236	41,323	18,356	687,921		$ 687,921
Balance (in shares) at Dec. 31, 2014	28,540,350							28,540,350
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Net income				53,497		53,497		$ 53,497
Other comprehensive income (loss)					(15,170)	(15,170)		(15,170)
Dividends				(47,794)		(47,794)		(47,794)
Exercise of stock options and related excess tax benefits			(15)			(15)		(15)
Exercise of stock options and related excess tax benefits (in shares)	341,264
Vesting Of Restricted Stock Units And Related Excess Tax Benefits Value			(1,136)			(1,136)		(1,136)
Vesting Of Restricted Stock Units And Related Excess Tax Benefits Shares (in shares)	59,933
Compensation expense under share incentive plan			3,735			3,735		3,735
Balances at Dec. 31, 2015	$ 6		$ 630,820	$ 47,026	$ 3,186	$ 681,038		$ 681,038
Balance (in shares) at Dec. 31, 2015	28,941,547							28,941,547

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating activities
Net income	$ 53,497	$ 44,685	$ 67,337
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred policy acquisition costs	(98,302)	(99,181)	(68,516)
Amortization of policy acquisition costs	97,750	85,183	71,648
Net realized investment losses (gains)	4,547	1,336	(12,619)
Distributions from equity method investments	2,885	3,904	2,637
Income from equity method investments	(2,468)	(5,163)	(4,620)
Trading securities purchases, sales, and maturities, net	2,319	9,808	1,518
Deferred U.S. federal income tax expense (benefit)	922	(3,761)	2,481
Provision for depreciation and amortization	2,004	2,760	3,567
Share based compensation expense	3,735	589	647
Change in operating assets and liabilities:
Reserve for losses and loss adjustment expenses	69,026	69,844	(63,269)
Unearned premiums	23,525	59,047	(20,523)
Premiums receivable and agents' balances	(14,158)	(26,638)	114,985
Reinsurance balances	(28,213)	(24,302)	27,050
Payable to insurance companies	4,170	(4,090)	(22,126)
Other	(4,848)	16,372	5,441
Net cash provided by operating activities	116,391	130,393	105,638
Securities available-for-sale:
Purchases - fixed maturity securities	(393,168)	(161,951)	(226,292)
Purchases equity securities	(18,519)	(8,133)	(16,207)
Sales - fixed maturity securities	110,122	28,101	260,182
Maturities and calls - fixed maturity securities	122,791	47,775	60,480
Sales - equity securities	14,068	16,612	1,127
Bank loan participations:
Purchases	(109,107)	(272,902)	(273,249)
Sales	113,391	157,863	150,724
Maturities	37,388	75,185	98,518
Other invested assets:
Other invested asset - purchases	(52,663)	(6,800)	(16,525)
Other invested asset - return of capital	237		246
Other invested asset - disposals	1,374	9,470
Other invested asset - maturities and repayments	30,753
Securities receivable or payable, net	(2,104)	1,332	330
Short-term investments, net	112,586	(60,338)	8,130
Other	(1,312)	(1,091)	(709)
Net cash (used in) provided by investing activities	(34,163)	(174,877)	46,755
Financing activities
Senior debt issuances	10,000	30,300	43,000
Senior debt repayments	(10,000)		(20,000)
Dividends paid	(47,405)	(69,998)
Issuances of common shares under equity incentive plans	1,730
Common share repurchases	(6,461)		(110,760)
Non-Controlling Interest - Subsidiary common share repurchases (Note 12)			(529)
Excess tax benefits from equity incentive plan transactions	3,580
Other financing activities	(649)	(1,039)	(1,294)
Net cash used in financing activities	(49,205)	(40,737)	(89,583)
Change in cash and cash equivalents	33,023	(85,221)	62,810
Cash and cash equivalents at beginning of year	73,383	158,604	95,794
Cash and cash equivalents at end of year	106,406	73,383	158,604
Supplemental information
Income taxes (refunded) paid, net	(2,827)	7,933	5,820
Interest paid	$ 7,342	$ 6,682	$ 7,625

Accounting Policies

Accounting Policies	12 Months Ended
Accounting Policies	Dec. 31, 2015
Accounting Policies [Abstract]
Accounting Policies	1. Accounting Policies Organization James River Group Holdings, Ltd. (referred to as “JRG Holdings” or, with its subsidiaries, the “Company”) is an exempted holding company registered in Bermuda, organized for the purpose of acquiring and managing insurance and reinsurance entities. The Company owns six insurance companies based in the United States (“U.S.”) focused on specialty insurance niches and a Bermuda-based reinsurance company as described below: • James River Group Holdings UK Limited (“James River UK”) is an insurance holding company formed in 2015 in the United Kingdom (“U.K.”). The Company contributed James River Group, Inc. (“James River Group”), a U.S. insurance holding company, to James River UK in 2015. • James River Group is a Delaware domiciled insurance holding company formed in 2002, which owns all of the Company’s U.S.-based subsidiaries, either directly or indirectly through one of its wholly-owned U.S. subsidiaries. James River Group oversees the Company’s U.S. insurance operations and maintains all of the outstanding debt in the U.S. • James River Insurance Company (“James River Insurance”) is an Ohio domiciled excess and surplus lines insurance company that, with its wholly-owned insurance subsidiary, James River Casualty Company, is authorized to write business in every state and the District of Columbia. • Falls Lake National Insurance Company (“Falls Lake National”) is an Ohio domiciled insurance company which wholly owns Stonewood Insurance Company (“Stonewood Insurance”), a North Carolina domiciled company, Falls Lake General Insurance Company, an Ohio domiciled company, and Falls Lake Fire and Casualty Company, a California domiciled company. Falls Lake National began writing specialty admitted program business in late 2013. Falls Lake Fire and Casualty Company will begin operations in 2016. • Stonewood Insurance is a workers’ compensation insurance company that writes insurance primarily for the residential construction and light manufacturing industries. Stonewood Insurance writes workers’ compensation coverage in North Carolina, Virginia, South Carolina, and Tennessee. • JRG Reinsurance Company, Ltd. (“JRG Re”) was formed in 2007 and commenced operations in 2008. JRG Re, a Bermuda domiciled reinsurer, provides non-catastrophe casualty reinsurance to U.S. third parties and to the Company’s U.S.-based insurance subsidiaries. Basis of Presentation and Principles of Consolidation The consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), which vary in some respects from statutory accounting practices (“SAP”) which are prescribed or permitted by the various state insurance departments in the U.S. or by insurance regulators in Bermuda. The accompanying consolidated financial statements include the accounts and operations of the Company and its subsidiaries. All significant intercompany transactions and balances have been eliminated. Estimates and Assumptions Preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying disclosures. Those estimates are inherently subject to change, and actual results may ultimately differ from those estimates. Fixed Maturity and Equity Securities Fixed maturity and equity securities classified as “available-for-sale” are carried at fair value, and unrealized gains and losses on such securities, net of any deferred taxes, are reported as a separate component of accumulated other comprehensive income. Fixed maturity securities purchased for short-term resale are classified as “trading” and are carried at fair value with unrealized gains and losses included in earnings as a component of net investment income. The Company does not have any securities classified as “held-to-maturity”. Fair value generally represents quoted market value prices for securities traded in the public marketplace or prices analytically determined using bid or closing prices for securities not traded in the public marketplace. Premiums and discounts on mortgage-backed securities and asset-backed securities are amortized or accrued using the constant yield method which considers anticipated prepayments at the date of purchase. To the extent that the estimated lives of such securities change as a result of changes in estimated prepayment rates, the adjustments are included in net investment income using the retrospective method. Realized investment gains or losses are determined on a specific identification basis. Interest income is recognized as earned, and dividend income is recognized on the ex-dividend date. The Company evaluates its available-for-sale investments regularly to determine whether there are declines in value that are other-than-temporary. The Company’s outside investment managers assist the Company in this evaluation. When the Company determines that a security has experienced an other-than-temporary impairment, the impairment loss is recognized as a realized investment loss. The factors that the Company considers in evaluating whether such an other-than-temporary impairment has occurred include the amount and percentage that fair value is below amortized cost or cost and the length of time that fair value has been below amortized cost or cost. For fixed maturity securities, the Company considers the credit quality rating of the security, with a special emphasis on securities downgraded below investment grade. Management does not intend to sell available-for-sale fixed maturity securities in an unrealized loss position, and it is not “more likely than not” that the Company will be required to sell these securities before a recovery in fair value to their amortized cost basis occurs. For equity securities, management evaluates the near-term prospects of these investments in relation to the severity and duration of the impairment, and the Company’s ability and intent to hold these investments until a recovery of fair value occurs. Bank Loan Participations Held-for-Investment and Allowance for Credit Losses Bank loan participations held-for-investment are managed by a specialized outside investment manager and are generally stated at their outstanding unpaid principal balances net of unamortized premiums or discounts and net of any allowance for credit losses. Interest income is accrued on the unpaid principal balance. Discounts and premiums are amortized to income using the interest method. Generally, the accrual of interest on a bank loan participation is discontinued when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about further collectability of principal or interest. A bank loan participation may remain on accrual status if it is in the process of collection and is either guaranteed or well secured. Interest received on nonaccrual loans generally is reported as investment income. There were no bank loans on nonaccrual status at December 31, 2015 or 2014. Generally, bank loan participations are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time, and the ultimate collectability of the total contractual principal and interest is no longer in doubt. The allowance for credit losses is maintained at a level believed adequate by management to absorb estimated probable credit losses. Management’s periodic evaluation of the adequacy of the allowance is based on consultations and advice of the Company’s specialized investment manager, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral, current economic conditions, and other relevant factors. When an observable market price for a loan is available, the Company has recorded an allowance equal to the difference between the fair value and the amortized cost of bank loans that it has determined to be impaired as a practical expedient for an estimate of probable future cash flows to be collected on those bank loans. If an observable market price for a loan is not available, the Company records an allowance equal to the difference between the present value of expected future cash flows discounted at the loan’s effective interest rate and the amortized cost of the loan. Other Invested Assets Other invested assets at December 31, 2015 and 2014 include the Company’s interests in private debt and equity investments. The investments are primarily focused in renewable energy, limited partnerships, and bank holding companies. Equity interests in various limited liability companies (“LLCs”) and limited partnerships are accounted for under the equity method, as the Company has determined that the equity method best reflects its economic interest in the underlying equity investment. For certain note agreements, original discounts and commitment fees received are recognized over the terms of the notes under the effective interest method. Short-Term Investments Short-term investments are carried at cost, which approximates fair value. Short-term investments have maturities greater than three months but less than one year at the date of purchase. Cash Equivalents The Company considers highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents. Direct Written Premiums Direct written premiums are earned on a pro rata basis over the terms of the policies, generally 12 months. The portion of premiums written applicable to the unexpired terms of the policies in force is recorded as unearned premiums. Policies are accounted for on an individual basis, with no aggregation by counterparty. Assumed Reinsurance Premiums Assumed reinsurance written premiums include amounts reported by brokers and ceding companies, supplemented by the Company’s own estimates of premiums when reports have not been received. Premiums on the Company’s excess of loss and pro rata reinsurance contracts are estimated when the business is underwritten. For excess of loss contracts, the deposit premium, as defined in the contract, is generally recorded as an estimate of premiums written at the inception date of the treaty. Estimates of premiums written under pro rata contracts are recorded in the period in which the underlying risks are expected to begin and are based on information provided by the brokers and the ceding companies. Reinsurance premium estimates are reviewed by management periodically. Any adjustment to these estimates is recorded in the period in which it becomes known. Reinsurance premiums assumed are earned over the terms of the underlying policies or reinsurance contracts. Contracts and policies written on a “losses occurring” basis cover claims that may occur during the term of the contract or policy, which is typically 12 months. Accordingly, the premium is earned evenly over the term. Contracts which are written on a “risks attaching” basis cover claims which attach to the underlying insurance policies written during the terms of such contracts. Premiums earned on such contracts usually extend beyond the original term of the reinsurance contract, typically resulting in recognition of premiums earned over a 24-month period in proportion to the level of underlying exposure. Contracts are accounted for on an individual basis, with no aggregation by counterparty. Premiums Receivable and Agents’ Balances, Net Premiums receivable and agents’ balances are carried at face value net of any allowance for doubtful accounts, which approximates fair value. The allowance for doubtful accounts represents an estimate of amounts considered uncollectible based on the Company’s assessment of the collectability of receivables that are past due. Receivables greater than 90 days past due were $2.6 million and $1.8 million at December 31, 2015 and 2014, respectively. The allowance for doubtful accounts was $2.8 million and $2.0 million at December 31, 2015 and 2014, respectively. Bad debt expense was $1.1 million for the year ended December 31, 2015, $812,000 for the year ended December 31, 2014, and $459,000 for the year ended December 31, 2013. Receivables written off against the allowance for doubtful accounts totaled $268,000 for the year ended December 31, 2015, $528,000 for the year ended December 31, 2014, and $978,000 for the year ended December 31, 2013. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. Deferred Policy Acquisition Costs Costs which are incrementally or directly related to the successful acquisition of new or renewal insurance business are deferred. These deferred costs are primarily commissions to agents, ceding commissions paid on reinsurance assumed, premium taxes, and the portion of underwriting fixed compensation and payroll related fringe benefits directly related to an insurance contract that has been acquired, net of ceding commissions related to reinsurance ceded. Amortization of such policy acquisition costs is charged to expense in proportion to premium earned over the estimated policy life. To the extent that unearned premiums on existing policies are not adequate to cover projected related costs and expenses, deferred policy acquisition costs are charged to earnings. The Company considers anticipated investment income in determining whether a premium deficiency exists. Reinsurance and Adjustable Features of Insurance and Reinsurance Contracts Certain premiums and losses are ceded to other insurance companies or assumed from other insurance companies under various excess of loss and quota-share reinsurance contracts. The Company enters into ceded reinsurance contracts to limit its exposure to large losses, to limit exposure on new lines of insurance written by the Company, and to provide additional capacity for growth. Premiums, commissions, and losses and loss adjustment expenses on reinsured business are accounted for on a basis consistent with that used in accounting for the original policies issued and the terms of the reinsurance contracts. Reinsurance recoverables and prepaid reinsurance premiums are reported as assets. Other amounts payable to insurance companies and reinsurers or receivable from insurance companies and reinsurers are netted where the right of offset exists. The Company receives ceding commissions in connection with certain ceded reinsurance. The ceding commissions are recorded as a reduction of other operating expenses. Certain reinsurance contracts of the Casualty Reinsurance segment include provisions that adjust premiums or acquisition expenses based upon the experience under the contracts. Premiums written and earned, as well as related acquisition expenses are recorded based upon the projected experience under the contracts. The Company’s Specialty Admitted Insurance segment writes insurance under specialty admitted program and fronting arrangements. The program and fronting arrangements may contain contractual provisions that adjust acquisition expenses based upon loss experience under the contracts. The specialty admitted programs and fronting arrangements are significantly reinsured. These reinsurance contracts may also contain provisions that adjust premiums or acquisition expenses based upon the loss experience under the contracts. Other Income Other income is principally comprised of fee income earned on policies for which the Company has no exposure to underwriting risk. Net fee income of $3.2 million, $883,000, and $0 is included in other income for the years ended December 31, 2015, 2014, and 2013, respectively. Fees are earned on a pro rata basis over the service period of the underlying business. Policies are accounted for on an individual basis, with no aggregation by counterparty. Income Taxes Deferred tax assets and deferred tax liabilities are provided for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of assets and liabilities and their respective U.S. tax bases. Deferred tax assets and liabilities are measured using enacted U.S. corporate tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance only when management believes it is more likely than not that some, or all, of the deferred tax assets will not be realized. Goodwill Goodwill is tested annually for impairment in the fourth quarter of each calendar year, or more frequently if events or changes in circumstances indicate that the carrying amount of the Company’s reporting units, including goodwill, may exceed their fair values. The Company first assesses qualitative factors in determining whether it is necessary to perform the quantitative goodwill impairment test. Only if management determines that it is more likely than not that the fair value of a reporting unit is less than the carrying value based on qualitative factors would it be required to perform the quantitative goodwill impairment test. If management concludes that quantitative goodwill impairment testing is required, the fair value of the reporting units is determined using a combination of a market approach and an income approach which projects the future cash flows produced by the reporting units and discounts those cash flows to their present value. The projection of future cash flows is necessarily dependent upon assumptions on the future levels of income as well as business trends, prospects, market, and economic conditions. The results of the two approaches are weighted to determine the fair value of each reporting unit. When the fair value is less than the carrying value of the net assets of the reporting unit, including goodwill, an impairment loss is charged to operations. To determine the amount of any goodwill impairment, the implied fair value of reporting unit goodwill is compared to the carrying amount of that goodwill. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination is determined. That is, the fair value of a reporting unit is assigned to all of the assets and liabilities of that unit (including any unrecognized intangible assets) as if the reporting unit had been acquired in a business combination. The excess of the fair value of a reporting unit over the amounts assigned to its assets and liabilities is the implied fair value of goodwill. Intangible Assets, Net Intangible assets are initially recognized and measured at fair value. Specifically identified intangible assets with indefinite lives include trademarks and state insurance licenses and authorities. Other specifically identified intangible assets with lives ranging from 7.0 to 27.5 years represent relationships with brokers. These intangible assets are amortized on a straight-line basis over their estimated useful lives. Intangible assets with indefinite useful lives are reviewed for impairment at least annually. In evaluating whether there has been impairment to the intangible asset, management determines the fair value of the intangible asset and compares the resulting fair value to the carrying value of the intangible asset. If the carrying value exceeds the fair value, the intangible asset is written down to fair value, and the impairment is reported through earnings. The Company evaluates intangible assets with definite lives for impairment when impairment indicators are noted. Impairment of Long-Lived Assets Long-lived assets with finite lives are tested for impairment whenever recognized events or changes in circumstances indicate the carrying value of these assets may not be recoverable. If indicators of impairment are present, fair value is calculated using estimated future cash flows expected to be generated from the use of those assets. An impairment loss is recognized only if the carrying amount of a long-lived asset or asset group is not recoverable and exceeds its fair value. The carrying amount of a long-lived asset or asset group is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset or asset group. That assessment is based on the carrying amount of the asset or asset group at the date it is tested for recoverability. An impairment loss is measured as the amount by which the carrying amount of a long-lived asset or asset group exceeds its fair value. Property and Equipment, Net Property and equipment, which is included in “other assets” in the accompanying consolidated balance sheets, is reported at cost less accumulated depreciation and is depreciated principally on a straight-line basis over the estimated useful lives of the depreciable assets, generally three to ten years. In the event the Company has been deemed the owner for accounting purposes of construction projects in lease arrangements, the estimated construction costs incurred to date are recorded as assets in property and equipment, net and included in “other assets” in the accompanying consolidated balance sheets. Upon occupancy of facilities under lease, the Company assesses whether arrangements qualify for sales recognition under the sale-leaseback accounting guidance. If the Company continues to be the deemed owner for accounting purposes, the cost of the building is depreciated over its estimated useful life. Reserve for Losses and Loss Adjustment Expenses The reserve for losses and loss adjustment expenses represents the estimated ultimate cost of all reported and unreported losses and loss adjustment expenses incurred and unpaid at the balance sheet date. The Company does not discount this reserve. The process of estimating the reserves for losses and loss adjustment expenses requires a high degree of judgment and is subject to a number of variables. The reserve for losses and loss adjustment expenses is estimated using individual case-basis valuations and statistical analyses. Those estimates are subject to the effects of trends in loss severity and frequency. The Company utilizes various actuarially-accepted reserving methodologies in determining the continuum of expected outcomes for its reserves. These methodologies utilize various inputs, including management’s initial expected loss ratio (the ratio of losses and loss adjustment expenses incurred to net earned premiums), expected reporting patterns and payment patterns for losses and loss adjustment expenses (based on insurance industry data and the Company’s own experience), and the Company’s actual paid and reported losses and loss adjustment expenses. An internal actuary reviews these results and (after applying appropriate professional judgment and other actuarial techniques that are considered necessary) presents recommendations to the Company’s management. Management uses this information and the results of independent actuarial reviews performed in the third and fourth quarters of each year as well as its judgment to make decisions on the final recorded reserve for losses and loss adjustment expenses. Management believes that the use of judgment is necessary to arrive at a best estimate for the reserve for losses and loss adjustment expenses given the long-tailed nature of the business generally written by the Company and the limited operating experience of the Casualty Reinsurance segment and of the program and fronting business in the Specialty Admitted Insurance segment. Catastrophes of significant magnitude, including hurricanes and earthquakes, involve complex coverage issues. In estimating the reserve for losses and loss adjustment expenses for these catastrophes, management uses case reserve estimates based on information obtained from site inspections by the Company’s adjustors and the terms of coverage provided in the policies. Management estimates reserves for incurred but not reported claims for these catastrophes using judgment based on an assessment of the Company’s property insurance exposures where the catastrophes occur and the Company’s progress in settling claims. Although management believes that the reserve for losses and loss adjustment expenses is reasonable, it is possible that the Company’s actual incurred losses and loss adjustment expenses will not develop in a manner consistent with the assumptions inherent in the determination of these reserves. Specifically, the Company’s actual ultimate loss ratio could differ from management’s initial expected loss ratio and/or the Company’s actual reporting patterns for losses could differ from the expected reporting patterns. Accordingly, the ultimate settlement of losses and the related loss adjustment expenses may vary significantly from the estimates included in the Company’s consolidated financial statements. These estimates are reviewed continually by management and are adjusted as necessary as experience develops or new information becomes known; such adjustments are included in current operations. Share Based Compensation The Company expenses the fair value of share equity awards over the vesting period of the award on a straight-line basis. The Black-Scholes-Merton option pricing model is used to value the options granted (see Note 11). As the share based compensation expense is incurred, a corresponding increase to additional paid-in capital in shareholders’ equity is recognized. Share based compensation expense is reflected in “other operating expenses” in the accompanying consolidated statements of income and comprehensive income. Financing Obligations In a lease arrangement where the Company made a minority investment in a partnership that was involved in the construction of a building, the Company was deemed the owner for accounting purposes during the construction period. The Company recorded an asset for the amount of the total project costs and the related financing obligation is included in “other liabilities” in the accompanying consolidated balance sheets. Once construction was completed, the Company determined the arrangement did not qualify for sale-lease back treatment. Accordingly, the Company continues to reduce the obligation over the lease term as payments are made and depreciates the asset over its useful life. The Company does not report rent expense for the portion of the rent payment determined to be related to the assets which are owned for accounting purposes. Rather, this portion of the rent payment under the lease is recognized as a reduction of the financing obligation and as interest expense. Variable Interest Entities Entities that do not have sufficient equity at risk to allow the entity to finance its activities without additional financial support or in which the equity investors, as a group, do not have the characteristic of a controlling financial interest are referred to as variable interest entities (“VIE”). A VIE is consolidated by the variable interest holder that is determined to have the controlling financial interest (primary beneficiary) as a result of having both the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses or right to receive benefits from the VIE that could potentially be significant to the VIE. The Company determines whether it is the primary beneficiary of an entity subject to consolidation based on a qualitative assessment of the VIE’s capital structure, contractual terms, nature of the VIE’s operations and purpose, and the Company’s relative exposure to the related risks of the VIE on the date it becomes initially involved in the VIE. The Company reassesses its VIE determination with respect to an entity on an ongoing basis. The Company holds interests in VIEs through certain equity method investments included in “other invested assets” in the accompanying consolidated balance sheets. The Company has determined that it should not consolidate any of the VIEs as it is not the primary beneficiary in any of the relationships. Although the investments resulted in the Company holding variable interests in the entities, they did not empower the Company to direct the activities that most significantly impact the economic performance of the entities. The Company’s investments related to these VIEs totaled $26.0 million and $25.1 million as of December 31, 2015 and 2014, respectively, representing the Company’s maximum exposure to loss. Earnings Per Share Basic earnings per share excludes dilution and is computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share reflects the dilution that could occur if securities or other contracts to issue common shares or common share equivalents were exercised or converted into common shares as calculated using the treasury stock method. When inclusion of common share equivalents increases the earnings per share or reduces the loss per share, the effect on earnings is anti-dilutive, and the diluted net earnings or net loss per share is computed excluding these common share equivalents. The following represents a reconciliation of the numerator and denominator of the basic and diluted earnings per share computations contained in the consolidated financial statements. Income Weighted-Average Earnings (in thousands, except per share data) Year ended December 31, 2015 Basic $ 53,497 28,662,051 $ 1.87 Common share equivalents — 672,867 (0.05 ) Diluted $ 53,497 29,334,918 $ 1.82 Year ended December 31, 2014 Basic $ 44,685 28,540,350 $ 1.57 Common share equivalents — 269,951 (0.02 ) Diluted $ 44,685 28,810,301 $ 1.55 Year ended December 31, 2013 Basic $ 67,337 30,442,950 $ 2.21 Common share equivalents — 57,850 — Diluted $ 67,337 30,500,800 $ 2.21 Common share equivalents relate to our stock options and restricted stock units (“RSU’s”). For the year ended December 31, 2015, all common share equivalents are dilutive. For the years ended December 31, 2014, and 2013, common share equivalents of 1,358,992 shares and 25,000 shares, respectively, are excluded from the calculations of diluted earnings per share as their effects are anti-dilutive. Prospective Accounting Standards In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis In May 2015, the FASB issued ASU 2015-09, Insurance (Topic 944), Disclosures about Short-Duration Contracts

Investments

Investments	12 Months Ended
Investments	Dec. 31, 2015
Investments [Abstract]
Investments	2. Investments The Company’s available-for-sale investments are summarized as follows: Cost or Gross Gross Fair (in thousands) December 31, 2015 Fixed maturity securities: State and municipal $ 95,864 $ 7,728 $ (135 ) $ 103,457 Residential mortgage-backed 137,308 1,718 (2,139 ) 136,887 Corporate 368,961 3,988 (9,781 ) 363,168 Commercial mortgage and asset-backed 130,231 890 (425 ) 130,696 Obligations of U.S. government corporations and agencies 89,734 698 (269 ) 90,163 U.S. Treasury securities and obligations guaranteed by the 73,322 165 (232 ) 73,255 Redeemable preferred stock 2,025 9 — 2,034 Total fixed maturity securities 897,445 15,196 (12,981 ) 899,660 Equity securities 69,830 5,512 (1,231 ) 74,111 Total investments available-for-sale $ 967,275 $ 20,708 $ (14,212 ) $ 973,771 December 31, 2014 Fixed maturity securities: State and municipal $ 90,715 $ 8,509 $ (178 ) $ 99,046 Residential mortgage-backed 113,997 2,661 (1,409 ) 115,249 Corporate 261,574 8,742 (2,434 ) 267,882 Commercial mortgage and asset-backed 111,056 2,429 (144 ) 113,341 Obligations of U.S. government corporations and agencies 100,376 1,431 (532 ) 101,275 U.S. Treasury securities and obligations guaranteed by the 58,173 289 (193 ) 58,269 Redeemable preferred stock 2,025 — (124 ) 1,901 Total fixed maturity securities 737,916 24,061 (5,014 ) 756,963 Equity securities 64,348 5,182 (1,625 ) 67,905 Total investments available-for-sale $ 802,264 $ 29,243 $ (6,639 ) $ 824,868 The amortized cost and fair value of available-for-sale investments in fixed maturity securities at December 31, 2015 are summarized, by contractual maturity, as follows: Amortized Fair (in thousands) One year or less $ 86,769 $ 87,096 After one year through five years 289,078 286,135 After five years through ten years 115,835 115,459 After ten years 136,199 141,353 Residential mortgage-backed 137,308 136,887 Commercial mortgage and asset-backed 130,231 130,696 Redeemable preferred stock 2,025 2,034 Total $ 897,445 $ 899,660 Actual maturities may differ for some securities because borrowers have the right to call or prepay obligations with or without penalties. The following table shows the Company’s gross unrealized losses and fair value for available-for-sale securities aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position: Less Than 12 Months 12 Months or More Total Fair Gross Fair Gross Fair Gross (in thousands) December 31, 2015 Fixed maturity securities: State and municipal $ 9,492 $ (135 ) $ — $ — $ 9,492 $ (135 ) Residential mortgage-backed 39,895 (465 ) 40,656 (1,674 ) 80,551 (2,139 ) Corporate 177,149 (5,281 ) 6,433 (4,500 ) 183,582 (9,781 ) Commercial mortgage and 74,518 (339 ) 11,437 (86 ) 85,955 (425 ) Obligations of U.S. government corporations and agencies 43,907 (231 ) 4,012 (38 ) 47,919 (269 ) U.S. Treasury securities and obligations guaranteed by the U.S. government 49,452 (213 ) 2,186 (19 ) 51,638 (232 ) Total fixed maturity securities 394,413 (6,664 ) 64,724 (6,317 ) 459,137 (12,981 ) Equity securities 4,196 (172 ) 5,704 (1,059 ) 9,900 (1,231 ) Total investments available-for-sale $ 398,609 $ (6,836 ) $ 70,428 $ (7,376 ) $ 469,037 $ (14,212 ) December 31, 2014 Fixed maturity securities: State and municipal $ 3,197 $ (176 ) $ 247 $ (2 ) $ 3,444 $ (178 ) Residential mortgage-backed 2,072 (2 ) 47,594 (1,407 ) 49,666 (1,409 ) Corporate 25,885 (235 ) 22,353 (2,199 ) 48,238 (2,434 ) Commercial mortgage and 23,894 (118 ) 8,742 (26 ) 32,636 (144 ) Obligations of U.S. government corporations and agencies 202 — 48,029 (532 ) 48,231 (532 ) U.S. Treasury securities and obligations guaranteed by the U.S. government 13,055 (24 ) 19,383 (169 ) 32,438 (193 ) Redeemable preferred stock — – 1,901 (124 ) 1,901 (124 ) Total fixed maturity securities 68,305 (555 ) 148,249 (4,459 ) 216,554 (5,014 ) Equity securities 1,361 (205 ) 10,621 (1,420 ) 11,982 (1,625 ) Total investments available-for-sale $ 69,666 $ (760 ) $ 158,870 $ (5,879 ) $ 228,536 $ (6,639 ) The Company held available-for-sale securities of 113 issuers that were in an unrealized loss position at December 31, 2015 with a total fair value of $469.0 million and gross unrealized losses of $14.2 million. None of the fixed maturity securities with unrealized losses has ever missed, or been delinquent on, a scheduled principal or interest payment. At December 31, 2015, 86.6% of the Company’s fixed maturity security portfolio was rated “A-” or better by Standard & Poor’s or received an equivalent rating from another nationally recognized rating agency. Fixed maturity securities with ratings below investment grade by Standard & Poor’s or another nationally recognized rating agency at December 31, 2015 had an aggregate fair value of $9.4 million and an aggregate net unrealized loss of $5.2 million. The Company previously held two municipal bonds issued by the Commonwealth of Puerto Rico. Puerto Rico’s weak economic conditions and heavy debt burden heightened the risk of default on the bonds and management concluded that the bonds, which had been downgraded to below investment grade, were other-than-temporarily impaired at June 30, 2014. The Company recognized impairment losses of $660,000 and $1.4 million on these bonds for the years ended December 31, 2015, and 2014, respectively. There was no such impairment on these bonds at December 31, 2013. The bonds were sold during the second quarter of 2015 and a net realized gain of $22,000 was recognized on the sales. Management concluded that none of the other fixed maturity securities with an unrealized loss at December 31, 2015, 2014, and 2013 experienced an other-than-temporary impairment. Management does not intend to sell available-for-sale securities in an unrealized loss position, and it is not “more likely than not” that the Company will be required to sell these securities before a recovery in their value to their amortized cost basis occurs. Management also concluded that none of the equity securities with an unrealized loss at December 31, 2015 and 2014 experienced an other-than-temporary impairment. Management concluded that one of the equity securities with an unrealized loss at December 31, 2013 experienced an other-than-temporary impairment, and accordingly, the Company recorded an impairment loss of $804,000 in 2013. Management concluded that the remaining equity securities with an unrealized loss at December 31, 2013 had not experienced an other-than-temporary impairment. Management has evaluated the near-term prospects of these equity securities in relation to the severity and duration of the impairment, and management has the ability and intent to hold these securities until a recovery of their fair value. The Company holds participations in two loans maturing in 2016 and 2017, that were issued by companies that produce and supply power to Puerto Rico through power purchase agreements with Puerto Rico Electric Power Authority (“PREPA”), a public corporation and governmental agency of the Commonwealth of Puerto Rico. PREPA’s credit strength and ability to make timely payments has been impacted by the economic conditions in Puerto Rico, thus raising doubt about the companies’ ability to meet the debt obligations held by the Company. Management concluded that the loans were impaired at December 31, 2014 and established an allowance for credit losses on the loans of $752,000. After recording this impairment, these loans had a carrying value of $7.1 million at December 31, 2014 and unpaid principal of $8.4 million. At December 31, 2015, the allowance for credit losses on these loans was $414,000. The loans had a carrying value of $3.9 million at December 31, 2015 and unpaid principal of $4.6 million. There was no such impairment on these loans at December 31, 2013. A number of the Company’s bank loans are to oil and gas companies in the energy sector. The market values of these loans declined significantly in the fourth quarter of 2014 in response to declining energy prices. The declines in market values continued into 2015 and, after discussions with our independent investment manager, management decided to sell certain energy sector loans where there was an increased risk associated with the issuer’s ability to meet all principal and interest obligations as they became due. At December 31, 2015, the Company’s remaining oil and gas exposure in the bank loan portfolio was in eight loans with a carrying value of $15.8 million and an unrealized loss of $4.1 million. All of these loans are current at December 31, 2015. Management concluded that two of these loans were impaired as of December 31, 2015, and accordingly, an allowance for credit losses of $3.9 million was established on the loans. After recording this impairment, the loans had a carrying value of $1.7 million at December 31, 2015 and unpaid principal of $5.8 million. Management also concluded that one non-energy sector loan held at December 31, 2015 was impaired and an allowance for credit losses of $34,000 was established on the loan. After recording this impairment, the loan had a carrying value of $689,000 at December 31, 2015 and unpaid principal of $722,000. There was no allowance for credit losses on these loans at December 31, 2014, or 2013. At December 31, 2013, investments in bank loan participations considered impaired were $246,000, net of the related allowance for credit losses on such bank loan participations of $242,000. The unpaid principal balance on these bank loan participations was $488,000 at December 31, 2013. Bank loan participations generally have a credit rating that is below investment grade (i.e. below “BBB-” for Standard & Poor’s) at the date of purchase. These bank loans are primarily senior, secured floating-rate debt rated “BB”, “B”, or “CCC” by Standard & Poor’s or an equivalent rating from another nationally recognized rating agency. These bank loans include assignments of, and participations in, performing and non-performing senior corporate debt generally acquired through primary bank syndications and in secondary markets. Bank loans consist of, but are not limited to, term loans, the funded and unfunded portions of revolving credit loans, and other similar loans and investments. Management believed that it was probable at the time that these loans were acquired that the Company would be able to collect all contractually required payments receivable. Generally, the accrual of interest on a bank loan participation is discontinued when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about further collectability of principal or interest. A bank loan participation may remain on accrual status if it is in the process of collection and is either guaranteed or well secured. Generally, bank loan participations are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time, and the ultimate collectability of the total contractual principal and interest is no longer in doubt. Interest received on nonaccrual loans generally is reported as investment income. There were no bank loans on nonaccrual status at December 31, 2015 or 2014. The allowance for credit losses is maintained at a level believed adequate by management to absorb estimated probable credit losses. Management’s periodic evaluation of the adequacy of the allowance is based on consultations and advice of the Company’s specialized investment manager, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral, current economic conditions, and other relevant factors. The Company generally records an allowance equal to the difference between the fair value and the amortized cost of bank loans that it has determined to be impaired as a practical expedient for an estimate of probable future cash flows to be collected on those bank loans. Bank loans are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The average recorded investment in impaired bank loans was $6.7 million, $3.7 million, and $307,000, during the years ended December 31, 2015, 2014, and 2013, respectively, and investment income of $229,000, $106,000, and $32,000, was recognized during the time that the loans were impaired. The Company recorded realized losses of $3.4 million, $607,000, and $121,000 during the years ended December 31, 2015, 2014, and 2013, respectively, for changes in the fair value of impaired bank loans. At December 31, 2015, unamortized discounts on bank loan participations were $7.1 million, and unamortized premiums on bank loan participations were $35,000. At December 31, 2014, unamortized discounts on bank loan participations were $3.8 million, and unamortized premiums on bank loan participations were $26,000. Major categories of the Company’s net investment income are summarized as follows: Year Ended December 31, 2015 2014 2013 (in thousands) Fixed maturity securities $ 24,178 $ 22,861 $ 24,896 Bank loan participations 13,432 13,809 14,406 Equity securities 4,444 4,103 4,308 Other invested assets 5,947 5,690 5,123 Cash, cash equivalents, short-term investments, and other 672 116 120 Trading losses (9 ) (32 ) (226 ) Gross investment income 48,664 46,547 48,627 Investment expense (3,829 ) (3,542 ) (3,254 ) Net investment income $ 44,835 $ 43,005 $ 45,373 Changes in unrealized gains or losses on securities held for trading are recorded as trading gains or losses within net investment income. Net investment income for the year ended December 31, 2015 included $9,000 of net trading losses of which $7,000 of net trading losses related to securities still held at December 31, 2015. Net investment income for the year ended December 31, 2014 included $32,000 of net trading losses of which $60,000 of net trading losses related to securities still held at December 31, 2014. Net investment income for the year ended December 31, 2013 included $226,000 of net trading losses of which $180,000 of net trading losses related to securities still held at December 31, 2013 . The Company’s realized gains and losses on investments are summarized as follows: Year Ended December 31, 2015 2014 2013 (in thousands) Fixed maturity securities: Gross realized gains $ 2,197 $ 522 $ 14,347 Gross realized losses (826 ) (1,502 ) (2,823 ) 1,371 (980 ) 11,524 Equity securities: Gross realized gains 1,041 88 13 Gross realized losses (10 ) (842 ) (804 ) 1,031 (754 ) (791 ) Bank loan participations: Gross realized gains 1,269 2,178 2,549 Gross realized losses (8,258 ) (1,211 ) (675 ) (6,989 ) 967 1,874 Short-term investments and other: Gross realized gains 54 1,371 12 Gross realized losses (14 ) (1,940 ) — 40 (569 ) 12 Total $ (4,547 ) $ (1,336 ) $ 12,619 The following table summarizes the change in the Company’s available-for-sale gross unrealized gains or losses by investment type: Year Ended December 31, 2015 2014 2013 (in thousands) Change in gross unrealized gains (losses): Fixed maturity securities $ (16,832 ) $ 10,765 $ (41,677 ) Equity securities 724 3,879 (6,281 ) Total $ (16,108 ) $ 14,644 $ (47,958 ) The Company invests selectively in private debt and equity opportunities. These investments, which together comprise the Company’s other invested assets, are primarily focused in renewable energy, limited partnerships, and bank holding companies. Investment Income Carrying Value Year Ended December 31, 2015 2014 2015 2014 2013 (in thousands) (in thousands) Category: Renewable energy LLCs (a) $26,001 $ 25,119 $ 3,936 $ 5,234 $ 4,310 Renewable energy bridge financing notes (b) 6,500 — 3,136 — — Limited partnerships (c) 17,503 4,003 (1,468 ) (128 ) 131 Bank holding companies (d) 4,500 4,500 343 400 275 Other (e) — — — 184 407 Total other invested assets $54,504 $ 33,622 $ 5,947 $ 5,690 $ 5,123 (a) The Company’s Corporate and Other segment owns equity interests ranging from 2.7% to 33.3% in various LLCs whose principal objective is capital appreciation and income generation from owning and operating renewable energy production facilities (wind and solar). The LLCs are managed by an affiliate of the Company’s largest shareholder and the Company’s Chairman and Chief Executive Officer has invested in certain of these LLCs. The equity method is used to account for the Company’s LLC investments. Income for the LLCs primarily reflects adjustments to the carrying values of investments in renewable energy projects to their determined fair values. The fair value adjustments are included in revenues for the LLCs. Expenses for the LLCs are not significant and are comprised of administrative and interest expenses. The Company received cash distributions from these investments totaling $3.1 million and $3.9 million for the years ended December 31, 2015 and 2014, respectively. In March 2014, the Company sold its interest in one of the LLCs for $5.9 million and a $1.9 million realized loss was recognized on the sale. Prior to the sale, investment income of $3.6 million was recognized on this investment in the three months ended March 31, 2014. (b) The Company owns investments in bridge loans for renewable energy projects. The notes, all with affiliates of the Company’s largest shareholder, generally mature in less than one year and carry primarily variable rates of interest ranging from 7.3% to 15.0%. Original discounts and commitment fees received are recognized over the terms of the notes under the effective interest method. During the year ended December 31, 2015, the Company invested a total of $36.3 million in these notes and received maturities and repayments totaling $30.8 million. (c) The Company owns investments in limited partnerships that invest in concentrated portfolios of high yield bonds of companies undergoing financial stress, publicly-traded small cap equities, loans of middle market private equity sponsored companies, and equity tranches of collateralized loan obligations (CLOs). Income from the partnerships is recognized under the equity method of accounting. The Company’s Corporate and Other segment held investments in limited partnerships of $2.2 million and $4.0 million at December 31, 2015 and 2014, and recognized investment losses of $510,000 and $128,000 for the years ended December 31, 2015 and 2014, respectively, and investment income of $131,000 for the year ended December 31, 2013. The Chairman and Chief Executive Officer of the Company is an investor in one limited partnership held by the Corporate & Other segment. The Company’s Excess and Surplus Lines segment holds investments in limited partnerships of $15.3 million at December 31, 2015. Investment losses of $958,000 were recognized on the investments for the year ended December 31, 2015. At December 31, 2015, the Company’s Excess and Surplus Lines segment has an outstanding commitment to invest another $3.6 million in a limited partnership that invests in loans of middle market private equity sponsored companies. (d) Net investment income for the years ended December 31, 2014 and 2013 includes $57,000 and $143,000, respectively, related to a previously held equity investment in a bank holding company (“Predecessor Bank Holding Company”). On July 4, 2014, the Predecessor Bank Holding Company merged with and into another bank holding company (the “Surviving Bank Holding Company”). In exchange for its shares of the Predecessor Bank Holding Company, the Company received $354,000 in cash and $6.4 million of common shares in the Surviving Bank Holding Company, and the realized investment gain on the exchange was $1.4 million. The common shares of the Surviving Bank Holding Company are carried as available for-sale equity securities as they are publicly-traded and the Company does not have significant influence over the Surviving Bank Holding Company. The Company also holds $4.5 million of subordinated notes issued by a company that was substantially owned by the Predecessor Bank Holding Company (the “Bank Affiliate”). The $4.5 million of subordinated notes issued by the Bank Affiliate became debt of the Surviving Bank Holding Company. Interest on the notes, which mature on August 12, 2023, is fixed at 7.6% per annum. Interest income on the notes was $343,000 in both years ended December 31, 2015 and 2014. The Chairman and Chief Executive Officer of the Company previously served as Chairman of the Predecessor Bank Holding Company and the Bank Affiliate. Effective July 4, 2014, the Company’s Chairman and Chief Executive Officer became the Lead Independent Director of the Surviving Bank Holding Company. The Chairman and Chief Executive Officer of the Company is a former investor in the Predecessor Bank Holding Company and is now an investor in the Surviving Bank Holding Company. Additionally, one of the Company’s directors is a former investor in the Bank Holding Company and is now an investor in the Surviving Bank Holding Company. In addition, this director was a lender to the Bank Affiliate and is now a lender to the Surviving Bank Holding Company. The Company’s Chief Financial Officer is a former investor in the Predecessor Bank Holding Company and the Surviving Bank Holding Company. (e) For the years ended December 31, 2014 and 2013, income of $184,000 and $415,000, respectively, was recognized on a $3.3 million note agreement with two property development companies. The note, which carried a fixed interest rate of 11.10%, was repaid in full on July 3, 2014. The Bank Holding Company also entered into note agreements with the same property development companies. On December 19, 2014, the Company purchased a $1.0 million certificate of deposit issued by the Surviving Bank Holding Company. The certificate of deposit, which matures on December 19, 2016, is carried as a short-term investment. Interest income of $5,000 was recognized on this investment for the year ended December 31, 2015. Two of the Company’s directors are also directors of First Wind Capital, LLC (“First Wind”), which is an affiliate of the Company’s largest shareholder. At December 31, 2014, the Company held fixed maturity securities with a fair value of $12.6 million issued by First Wind. These securities were called in March 2015, resulting in a realized gain of $845,000. Also at December 31, 2014, the Company held a bank loan participation with a carrying value of $4.6 million from an affiliate of First Wind. The loan was repaid in full in January 2015. The Company maintains fixed maturity securities, short-term investments, and cash and cash equivalents amounting to $401.1 million at December 31, 2015 in trust accounts or on deposit as collateral for outstanding letters of credit issued as security to third-party reinsureds on reinsurance assumed by JRG Re. At December 31, 2015 and 2014, investments with a fair value of $16.2 million and $16.0 million, respectively, were on deposit with state insurance departments to satisfy regulatory requirements. At December 31, 2015, the Company held no investments in securitizations of alternative-A mortgages or sub-prime mortgages.

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs	12 Months Ended
Deferred Policy Acquisition Costs	Dec. 31, 2015
Deferred Policy Acquisition Costs Disclosures [Abstract]
Deferred Policy Acquisition Costs	3. Deferred Policy Acquisition Costs An analysis of deferred policy acquisition costs is as follows: Year Ended December 31, 2015 2014 2013 (in thousands) Balance at beginning of period $ 60,202 $ 46,204 $ 49,336 Policy acquisition costs deferred: Commissions 90,342 93,646 63,958 Underwriting and other issue expenses 7,960 5,535 4,558 98,302 99,181 68,516 Amortization of policy acquisition costs (97,750 ) (85,183 ) (71,648 ) Net change 552 13,998 (3,132 ) Balance at end of period $ 60,754 $ 60,202 $ 46,204

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
Goodwill and Intangible Assets	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	4. Goodwill and Intangible Assets On December 11, 2007, the Company completed an acquisition of James River Group by acquiring 100% of the outstanding shares of James River Group common stock, referred to herein as the “Merger”. The transaction was accounted for under the purchase method of accounting, and goodwill and intangible assets were recognized by the Company as a result of the transaction. All of the Company’s goodwill is an asset of the Excess and Surplus Lines segment. The Company’s annual testing performed in the fourth quarter of 2015, 2014 and 2013 indicated that no impairment of goodwill had occurred. The carrying amount of goodwill at December 31, 2015 and 2014 was $181.8 million. Accumulated goodwill impairment losses were $99.6 million at December 31, 2015 and 2014. Specifically identifiable intangible assets were acquired in the Merger. During the fourth quarters of 2015, 2014 and 2013, the indefinite-lived intangible assets for trademarks and insurance licenses and authorities were tested for impairment. Intangible assets for customer and broker relationships that have specific lives and are subject to amortization were also reviewed for impairment. There were no impairments recognized in 2015, 2014, or 2013. The gross carrying amounts and accumulated amortization for each major specifically identifiable intangible asset class were as follows: Weighted- December 31, 2015 2014 Gross Accumulated Gross Accumulated (in thousands) Trademarks Indefinite $ 22,200 $ — $ 22,200 $ — Insurance licenses and authorities Indefinite 9,164 — 9,164 — Identifiable intangibles not subject to amortization 31,364 — 31,364 — Broker relationships 24.6 11,611 3,447 11,611 2,850 Identifiable intangible assets subject to amortization 11,611 3,447 11,611 2,850 $ 42,975 $ 3,447 $ 42,975 $ 2,850 Future estimated amortization of specifically identifiable intangible assets as of December 31, 2015 is as follows ( in thousands) 2016 $ 597 2017 597 2018 597 2019 597 2020 538 Thereafter 5,237 Total $ 8,163 The table below summarizes the changes in the net carrying values of intangible assets by segment for 2015: December 31, Amortization Impairment December 31, (in thousands) Excess and Surplus Lines Trademarks $ 19,700 $ — $ — $ 19,700 Insurance licenses and authorities 4,900 — — 4,900 Broker relationships 7,413 (362 ) — 7,051 32,013 (362 ) — 31,651 Specialty Admitted Insurance Trademarks 2,500 — — 2,500 Insurance licenses and authorities 4,265 — — 4,265 Broker relationships 1,347 (235 ) — 1,112 8,112 (235 ) — 7,877 Total identifiable intangible assets $ 40,125 $ (597 ) $ — $ 39,528 The table below summarizes the changes in the net carrying values of intangible assets by segment for 2014: December 31, Amortization Impairment December 31, (in thousands) Excess and Surplus Lines Trademarks $ 19,700 $ — $ — $ 19,700 Insurance licenses and authorities 4,900 — — 4,900 Broker relationships 7,775 (362 ) — 7,413 32,375 (362 ) — 32,013 Specialty Admitted Insurance Trademarks 2,500 — — 2,500 Insurance licenses and authorities 4,265 — — 4,265 Broker relationships 1,582 (235 ) — 1,347 8,347 (235 ) — 8,112 Total identifiable intangible assets $ 40,722 $ (597 ) $ — $ 40,125 Amortization of intangible assets was $2.3 million for the Excess and Surplus Lines segment and $168,000 for the Specialty Admitted Insurance segment for the year ended December 31, 2013.

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
Property and Equipment, Net	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	5. Property and Equipment, Net Property and equipment, net of accumulated depreciation, consists of the following: December 31, 2015 2014 (in thousands) Building, leased for which the Company has been deemed the owner for accounting purposes (Note 22) $ 29,940 $ 29,917 Electronic data processing hardware and software 3,481 3,353 Furniture and equipment 2,183 1,893 Property and equipment, cost basis 35,604 35,163 Accumulated depreciation (11,615 ) (10,186 ) Property and equipment, net $ 23,989 $ 24,977

Reserve for Losses and Loss Adj

Reserve for Losses and Loss Adjustment Expenses	12 Months Ended
Reserve for Losses and Loss Adjustment Expenses	Dec. 31, 2015
Loss Contingency [Abstract]
Reserve for Losses and Loss Adjustment Expenses	6. Reserve for Losses and Loss Adjustment Expenses The following table provides a reconciliation of the beginning and ending reserve balances for losses and loss adjustment expenses, net of reinsurance, to the gross amounts reported in the consolidated balance sheets: Year Ended December 31, 2015 2014 2013 (in thousands) Reserve for losses and loss adjustment expenses net of reinsurance recoverables at beginning of period $ 589,042 $ 526,985 $ 533,909 Add: Incurred losses and loss adjustment expenses net of reinsurance: Current year 295,334 264,786 221,938 Prior years (16,318 ) (27,418 ) (37,452 ) Total incurred losses and loss and adjustment expenses 279,016 237,368 184,486 Deduct: Loss and loss adjustment expense payments net of reinsurance: Current year 31,957 25,942 19,485 Prior years 182,567 149,369 171,925 Total loss and loss adjustment expense payments 214,524 175,311 191,410 Reserve for losses and loss adjustment expenses net of reinsurance recoverables at end of period 653,534 589,042 526,985 Add: Reinsurance recoverables on unpaid losses and loss adjustment expenses at end of period 131,788 127,254 119,467 Reserve for losses and loss adjustment expenses gross of reinsurance recoverables on unpaid losses and loss adjustment expenses at end of period $ 785,322 $ 716,296 $ 646,452 The foregoing reconciliation shows that a $16.3 million redundancy developed in 2014 on the reserve for losses and loss adjustment expenses held at December 31, 2014. This favorable reserve development included $25.4 million of favorable development in the Excess and Surplus Lines segment. The Excess and Surplus Lines segment favorable development included $17.3 million of favorable development from the 2014 accident year, $10.5 million of favorable development from the 2013 accident year, and $2.4 million of adverse development from the 2006 accident year. This favorable development occurred because our actuarial studies at December 31, 2015 for the Excess and Surplus Lines segment indicated that our loss experience for our shorter-tailed general casualty division book for the 2014 accident year is below our initial expected ultimate loss ratios. The actuarial studies at December 31, 2015 also showed that the experience on our other casualty business continues to be below our initial expected ultimate loss ratios. Favorable reserve development written in the Specialty Admitted Insurance segment was $3.5 million and primarily came from accident years 2011 through 2013, as losses on our workers’ compensation business written prior to 2014 continued to develop more favorably than we had anticipated. In addition, $12.6 million of adverse development occurred in the Casualty Reinsurance segment, with a majority of this adverse development coming from three reinsurers principally in the 2011, 2012, and 2013 underwriting years that experienced higher loss development in 2015 than expected. The foregoing reconciliation shows that a $27.4 million redundancy developed in 2015 on the reserve for losses and loss adjustment expenses held at December 31, 2013. This favorable reserve development included $27.3 million of favorable development in the Excess and Surplus Lines segment. The Excess and Surplus Lines segment favorable development included $7.9 million of favorable development from the 2011 accident year, $5.0 million of favorable development from the 2009 accident year, and $4.2 million of favorable development from the 2007 accident year. This favorable development occurred because our actuarial studies at December 31, 2014 for the Excess and Surplus Lines segment indicated that our loss experience on our maturing casualty business continues to be below our initial expected ultimate loss ratios. Favorable reserve development written in the Specialty Admitted Insurance segment was $5.9 million and primarily came from accident years 2007 through 2012, as losses on our workers’ compensation business written prior to 2013 continued to develop more favorably than we had anticipated. In addition, $5.7 million of adverse development occurred in the Casualty Reinsurance segment, with a majority of this adverse development coming from one reinsurance relationship from the 2011 underwriting year that experienced higher loss development in 2014 than expected. The foregoing reconciliation shows that a $37.5 million redundancy developed in 2013 on the reserve for losses and loss adjustment expenses held at December 31, 2012. This favorable reserve development included $40.7 million of favorable development in the Excess and Surplus Lines segment, including $11.7 million of favorable development on casualty lines from the 2009 accident year, $7.5 million of favorable development from the 2007 accident year, and $5.7 million of favorable development from the 2008 accident year. This favorable development occurred because our actuarial studies at December 31, 2013 for the Excess and Surplus Lines segment indicated that our loss experience on our maturing casualty business continues to be below our initial expected ultimate loss ratios. Favorable reserve development on direct business written in the Specialty Admitted Insurance segment was $1.4 million, including favorable development of $1.3 million from the 2012 accident year. In addition, $4.7 million of adverse development occurred in the Casualty Reinsurance segment, with $1.0 million of adverse development on assumed crop business from the 2012 and 2011 accident years and $3.7 million of adverse development on other assumed business, primarily from the 2011 accident year. The Company has not provided insurance coverage that could reasonably be expected to produce material levels of asbestos claims activity. In addition, management does not believe that the Company is exposed to any environmental liability claims other than those which it has specifically underwritten and priced as an environmental exposure. Any asbestos or environmental exposure on policies issued by Fidelity Excess and Surplus Insurance Company, the predecessor to James River Insurance, prior to July 1, 2003 is subject to both a reinsurance and a trust agreement (see Note 7).

Reinsurance

Reinsurance	12 Months Ended
Reinsurance	Dec. 31, 2015
Reinsurance Disclosures [Abstract]
Reinsurance	7. Reinsurance The Company’s insurance subsidiaries remain liable to policyholders if its reinsurers are unable to meet their contractual obligations under applicable reinsurance agreements. To minimize exposure to significant losses from reinsurance insolvencies, the Company evaluates the financial condition of its reinsurers and monitors concentrations of credit risk. The Company’s reinsurance contracts generally require reinsurers that are not authorized as reinsurers under U.S. state insurance regulations or that experience rating downgrades from rating agencies below specified levels to fund their share of the Company’s ceded outstanding losses and loss adjustment expense reserves, typically through the use of irrevocable and unconditional letters of credit. In fronting arrangements, which the Company conducts through its Specialty Admitted Insurance segment, we are subject to credit risk with regard to insurance companies who act as reinsurers for us in such arrangements. We customarily require a collateral trust arrangement to secure the obligations of the insurance entity for whom we are fronting. At December 31, 2015, the Company had reinsurance recoverables on unpaid losses of $131.8 million and reinsurance recoverables on paid losses of $11.3 million. All of these reinsurance recoverables are from companies with A.M. Best Company ratings of “A-” (Excellent) or better, or are collateralized with letters of credit or by a trust agreement. The Company has a reinsurance agreement that is secured by a trust agreement with American Empire Surplus Lines Insurance Company (“American Empire”) and an irrevocable and unconditional guarantee by Great American Insurance Company, an affiliate of American Empire. At December 31, 2015, the fair value of assets in the trust was $695,000 and reinsurance recoverables from American Empire were $316,000. At December 31, 2015, reinsurance recoverables on unpaid losses from the Company’s three largest reinsurers were $33.6 million, $26.6 million, and $15.3 million, representing 57.2% of the total balance. At December 31, 2015, prepaid reinsurance premiums ceded to three reinsurers totaled $11.6 million, $7.3 million, and $6.6 million, representing 57.5% of the total balance. Under the terms of a reinsurance agreement with Infinity Insurance Company in connection with the Company’s acquisition of two “shell” insurance companies in 2011, all liabilities resulting from direct and assumed business written by the “shell” insurance companies through December 31, 2011 are ceded to Infinity Insurance Company. Premiums written, premiums earned, and losses and loss adjustment expenses incurred are summarized as follows: Year Ended December 31, 2015 2014 2013 (in thousands) Written premiums: Direct $ 395,816 $ 310,161 $ 211,607 Assumed 176,378 208,606 156,911 Ceded (101,162 ) (68,684 ) (43,352 ) Net $ 471,032 $ 450,083 $ 325,166 Earned premiums: Direct $ 367,340 $ 281,676 $ 196,351 Assumed 181,326 178,045 192,690 Ceded (87,461 ) (63,509 ) (60,963 ) Net $ 461,205 $ 396,212 $ 328,078 Losses and loss adjustment expenses: Direct $ 201,755 $ 144,178 $ 73,948 Assumed 127,276 118,515 141,340 Ceded (50,015 ) (25,325 ) (30,802 ) Net $ 279,016 $ 237,368 $ 184,486

Senior Debt

Senior Debt	12 Months Ended
Senior Debt	Dec. 31, 2015
Debt Disclosure [Abstract]
Senior Debt	8. Senior Debt On June 5, 2013, the Company closed on a three year $125.0 million senior revolving credit facility (the “Facility”). James River Group Holdings, Ltd. and JRG Re are borrowers on the Facility. A portion of the proceeds from the Facility were used to pay off the $20.0 million balance of the previous senior facility. The new Facility was initially comprised of: • A $62.5 million secured revolving facility to be utilized by JRG Re to issue letters of credit for the benefit of third-party reinsureds. • A $62.5 million unsecured revolving facility to meet the working capital needs of the Company. All unpaid principal on the revolver is due at maturity. Interest accrues quarterly and is payable in arrears at LIBOR plus a margin of 2.0%, which is subject to change according to terms in the credit agreement. The Company amended its senior revolving credit facility (the “Facility”) on September 24, 2014. The amendment expanded the total facility to $175.0 million by increasing the unsecured portion of the revolving facility to $112.5 million, extended the maturity date of the facility to September 24, 2019, and modified certain other terms of the agreement including the schedule used to determine the rate of interest on borrowings under the facility. On May 20, 2015, under a provision of the credit agreement, the Company requested, and the lenders subsequently agreed, to increase the secured revolving facility by $40.0 million to a total capacity of $102.5 million. A second amendment to the Facility on December 15, 2015 added James River UK, the newly formed intermediate holding company, as a Guarantor in the agreement. At December 31, 2015, the Company had $35.1 million of letters of credit issued under the $102.5 million secured facility and a drawn balance of $73.3 million outstanding on the $112.5 million unsecured revolver. A subsidiary of the Surviving Bank Holding Company is one of the lenders for the Facility, with a $12.0 million commitment allocation on the total $215.0 million facility. The Company closed on a second amendment to the senior revolving credit facility that was effective December 15, 2015, which, among other things, accommodated the organization and capitalization of an intermediate holding company in the United Kingdom. Additionally, the Company closed on a third amendment to the senior revolving credit facility that was effective December 30, 2015, which adjusted certain financial covenants. In connection with the December 15, 2015 amendment, the intermediate holding company entered into a payment guaranty of the Company’s obligations under the senior revolving credit facility. This debt contains certain financial and other covenants with which the Company is in compliance at December 31, 2015. On May 26, 2004, James River Group issued $15.0 million of unsecured, floating rate senior debentures (the “Senior Debt”), due April 29, 2034 unless accelerated earlier, through an indenture. The Senior Debt is not redeemable by the holder and is not subject to sinking fund requirements. Interest accrues quarterly and is payable in arrears at a per annum rate of the three-month LIBOR on the Determination Date (as defined in the indenture) plus 3.85%. The Senior Debt is redeemable prior to its stated maturity in whole or in part, at the option of James River Group. The terms of the indenture generally provide that so long as the Senior Debt is outstanding, neither James River Group nor any of its subsidiaries may: • assume or permit to exist any indebtedness that is secured by any encumbrance on the capital stock of James River Group or any of its subsidiaries which is senior to the Senior Debt; or • issue, sell, transfer or otherwise dispose of any shares of, securities convertible into, or warrants rights or options to subscribe for or purchase shares of, capital stock of any subsidiary. James River Group is in compliance with all covenants of the indenture at December 31, 2015. Interest payable is included in “accrued expenses” in the accompanying consolidated balance sheets.

Junior Subordinated Debt

Junior Subordinated Debt	12 Months Ended
Junior Subordinated Debt	Dec. 31, 2015
Subordinated Borrowings [Abstract]
Junior Subordinated Debt	9. Junior Subordinated Debt The Company issued trust preferred securities (“Trust Preferred Securities”) through James River Capital Trust I, James River Capital Trust II, James River Capital Trust III, James River Capital Trust IV, and Franklin Holdings II (Bermuda) Capital Trust I, (each, a “Trust”; collectively, the “Trusts”). These Delaware statutory trusts are sponsored and wholly-owned by the Company. Each Trust was created solely for the purpose of issuing the Trust Preferred Securities. Each Trust used proceeds from the sale of its Trust Preferred Securities to purchase the Company’s floating rate junior subordinated debentures (the “Junior Subordinated Debt”) issued to the Trust under an indenture (each, an “Indenture”; collectively, the “Indentures”). The Junior Subordinated Debt is the sole asset of each Trust, and the Trust Preferred Securities are the sole liabilities of each Trust. The Company purchased all of the outstanding common stock of the Trusts, and the investment in the Trusts is included in “other assets” in the accompanying consolidated balance sheets. The following table summarizes the nature and terms of the Junior Subordinated Debt and Trust Preferred Securities: James River James River James River James River Franklin ($ in thousands) Issue date May 26, December 15, June 15, December 11, January 10, Principal amount of Trust $ 7,000 $ 15,000 $ 20,000 $ 54,000 $ 30,000 Principal amount of Junior $ 7,217 $ 15,464 $ 20,619 $ 55,670 $ 30,928 Carrying amount of Junior $ 7,217 $ 15,464 $ 20,619 $ 44,827 $ 15,928 Maturity date of Junior May 24, December 15, June 15, December 15, March 15, Trust common stock $ 217 $ 464 $ 619 $ 1,670 $ 928 Interest rate, per annum Three-Month Three-Month Three-Month Three-Month Three-Month Redeemable at 100% of principal May 24, December 15, June 15, March 15, June 15, Interest on the Trust Preferred Securities and interest paid to the Trusts on the Junior Subordinated Debt is payable quarterly in arrears at a per annum rate as described in the table above. The Company has the right to defer interest payments on the Junior Subordinated Debt for up to five years without triggering an event of default. The Trust Preferred Securities are subject to mandatory redemption in a like amount (a) upon repayment of all of the Junior Subordinated Debt on the stated maturity date, (b) contemporaneously with the optional prepayment of all of the Junior Subordinated Debt in conjunction with a special event (as defined), and (c) five years or more after the issue date, contemporaneously with the optional prepayment, in whole or in part, of the Junior Subordinated Debt. The Indentures contain certain covenants which the Company is in compliance with as of December 31, 2015. Interest payable is included in “accrued expenses” on the accompanying consolidated balance sheets.

Capital Stock

Capital Stock	12 Months Ended
Capital Stock	Dec. 31, 2015
Stockholders' Equity Note [Abstract]
Capital Stock	10. Capital Stock On November 6, 2014, the Company filed a registration statement on Form S-1 with the Securities and Exchange Commission for the purpose of making an initial public offering of common stock of James River Group Holdings, Ltd. (the “Offering”). On December 9, 2014, all of the Company’s Class A common shares were converted to common shares (the “Recapitalization”) on a 1 for 50 basis (the “Stock Split”). The Company’s authorized share capital following the Recapitalization and the Stock Split consists of 200,000,000 common shares, par value $0.0002 per share (28,540,350 shares issued and outstanding) and 20,000,000 undesignated preferred shares, par value $0.00125 per share (no shares issued or outstanding). The accompanying consolidated financial statements and notes to the consolidated financial statements give retroactive effect to the Recapitalization and the Stock Split for all periods presented. 2015 share activity includes issuances from stock option exercises and RSU vesting, increasing the number of common shares outstanding to 28,941,547 at December 31, 2015. On November 20, 2013, in connection with the merger of Franklin Holdings II (Bermuda), Ltd. (“Franklin Holdings II”) into the Company, Franklin Holdings II’s sole minority shareholder transferred 6,000 Franklin Holdings II Class A common shares to the Company in exchange for the issuance of 10,350 common shares on October 22, 2013 (see Note 12). On April 3, 2013, the Company repurchased 7,500,000 outstanding common shares at a price per share of $14.77, for a total purchase price of $110.8 million. Of this amount, $88.6 million was paid in cash and $22.2 million was paid with promissory notes. The principal amount of these promissory notes and all accrued interest amounts due were repaid in full on June 5, 2013. Interest on the notes was 2.5% per annum. The Company has 4,284,900 common shares reserved for future issuance upon exercise of equity awards. The Board of Directors declared the following cash dividends in 2015: Date of Dividend per Payable to Shareholders Payment Date Total Amount February 17, 2015 $ 0.16 March 16, 2015 March 31, 2015 $4.6 million May 5, 2015 $ 0.16 June 15, 2015 June 30, 2015 $4.6 million August 5, 2015 $ 0.16 September 14, 2015 September 30, 2015 $4.7 million November 3, 2015 $ 0.16 December 14, 2015 December 28, 2015 $4.7 million November 3, 2015 $ 1.00 December 14, 2015 December 28, 2015 $29.2 million Total $ 1.64 $47.8 million Included in the dividends are $558,000 of dividend equivalents on RSU’s, of which $385,000 were payable as of December 31, 2015. On August 27, 2014, the Board of Directors of the Company declared a cash dividend of $2.45 per share on its outstanding common shares payable to shareholders of record as of June 30, 2014. The cash dividend totaled $70.0 million and was funded through a $50.0 million dividend paid to the Company by its reinsurance subsidiary, JRG Re, and by additional borrowings on its unsecured revolving credit facility of $20.0 million. No dividends were declared in 2013.

Equity Awards

Equity Awards	12 Months Ended
Equity Awards	Dec. 31, 2015
Stockholders' Equity Note [Abstract]
Equity Awards	11. Equity Awards Equity Incentive Plans The Company’s shareholders have approved various equity incentive plans, including the Amended and Restated 2009 Equity Incentive Plan (the “Legacy Plan”), the 2014 Long Term Incentive Plan (“2014 LTIP”), and the 2014 Non-Employee Director Incentive Plan (“2014 Director Plan”) (collectively, the “Plans”). All awards issued under the Plans are issued at the discretion of the Board of Directors. Under the Legacy Plan, employees received non-qualified stock options. Options are outstanding under the Legacy Plan; however, no additional awards may be granted. Employees are eligible to receive non-qualified stock options, incentive stock options, share appreciation rights, performance shares, restricted shares, restricted share units (“RSUs”), and other awards under the 2014 LTIP. The maximum number of shares available for issuance under the 2014 LTIP is 3,171,150, and at December 31, 2015, 1,843,481 shares are available for grant. Non-employee directors of the Company are eligible to receive non-qualified stock options, share appreciation rights, performance shares, restricted shares, restricted share units, and other awards under the 2014 Director Plan. The maximum number of shares available for issuance under the 2014 Director Plan is 50,000, and at December 31, 2015, 42,860 shares are available for grant. All options issued under the Legacy Plan vest in the event of a change in control. Generally, awards issued under the 2014 LTIP and 2014 Director Plan vest immediately in the event that an award recipient is terminated without Cause (as defined), and in the case of the 2014 LTIP for Good Reason (as defined), during the 12-month period following a Change in Control (as defined). Options The following table summarizes the option activity for the periods ended December 31, 2015, 2014, and 2013: Year Ended December 31, 2015 2014 2013 Shares Weighted- Shares Weighted- Shares Weighted- Outstanding: Beginning of year 3,104,768 $ 17.27 2,166,250 $ 15.51 2,287,500 $ 15.50 Granted 10,627 $ 24.32 993,518 $ 21.00 50,000 $ 16.83 Exercised (1,047,500 ) $ 15.66 — — — — Forfeited (9,810 ) $ 21.00 — — — — Lapsed — — (55,000 ) $ 15.65 (171,250 ) $ 15.65 End of year 2,058,085 $ 18.11 3,104,768 $ 17.27 2,166,250 $ 15.51 Exercisable, end of year 1,217,903 $ 16.85 1,751,249 $ 15.51 1,570,100 $ 15.54 All of the outstanding options vest over three or four years and have a contractual life of seven years from the original date of grant. All of the outstanding options have an exercise price greater than or equal to the fair value of the underlying shares at the date of grant. For 2015 and 2014, the fair value of the underlying share was equal to the market price. For 2013, management determined the fair value of an underlying share based on a variety of information including an appraisal by an independent third-party that utilized a combination of a market approach and a discounted cash flow analysis which projected the future cash flows of the Company and discounted those cash flows to the present value. The intrinsic value of each option is determined based on the difference between the fair value of the underlying share and the exercise price of the underlying option. The total intrinsic value of options exercised during 2015 was $12.8 million. There were no options exercised in 2014 or 2013. The aggregate intrinsic value of options outstanding at December 31, 2015, 2014, and 2013 was $31.8 million, $17.1 million, and $5.4 million, respectively. The aggregate intrinsic value of options exercisable at December 31, 2015, 2014, and 2013 was $20.3 million, $12.7 million and $3.9 million, respectively. The fair value used for calculating intrinsic values was $33.54, $22.76, and $18.01 at December 31, 2015, 2014, and 2013, respectively. The weighted-average remaining contractual life of the options outstanding and options exercisable at December 31, 2015 is 4.2 years and 3.4 years, respectively. The weighted-average fair value of options granted during 2015, 2014, and 2013 was $4.31, $3.99, and $3.62, respectively. The value of the options granted was estimated at the date of grant using the Black-Scholes-Merton option pricing model using the following assumptions: Year Ended December 31, 2015 2014 2013 Range of risk-free interest rates 1.54 % 1.53 % 0.77% – 1.50% Dividend yield 4.00 % 2.00 % 0.00 % Expected share price volatility 25.00 % 25.00 % 26.00 % Expected life 5.0 years 5.0 years 5.0 years The risk-free interest rate assumption is based on the five-year U.S. Treasury rate at the date of the grant. The dividend yield assumption is based upon dividends expected to be declared over the life of the options at the date of grant. The share price volatility assumption is based upon historical data for property/casualty companies which the Company deems to be its peers. The expected life is determined using the simplified method, which factors in the average of the midpoint and the contractual term of each tranche in determining a single expected life. The simplified method is used as the Company does not have sufficient historical exercise data to estimate an expected term. The Black-Scholes-Merton option pricing model was developed for use in estimating the fair value of traded options that have no vesting restrictions and are fully transferable. In addition, option valuation models require the input of highly subjective assumptions including expected share price volatility. Because the Company’s share options have characteristics significantly different from those of traded options and because changes in the subjective input assumptions can materially affect the fair value estimate, the existing models do not necessarily provide a reliable single measure of the fair value of such share options. RSUs The following table summarizes the RSU activity for the years ended December 31, 2015 and 2014: Year Ended December 31, 2015 2014 Shares Weighted- Shares Weighted- Unvested, beginning of year 340,474 $ 21.00 — — Granted — — 340,474 $ 21.00 Vested (105,552 ) $ 21.00 — — Unvested, end of year 234,922 $ 21.00 340,474 $ 21.00 The vesting period of RSUs granted to employees range from three to five years and vest ratably over the respective vesting period. All RSUs granted to date to non-employee directors had a one year vesting period. The total fair value of shares vested in 2015 was $3.5 million. The holders of RSUs are entitled to dividend equivalents. The dividend equivalents are settled at the same time that the underlying RSUs vest and are subject to the same risk of forfeiture as the underlying shares. The fair value of the RSUs granted is based on the market price of the underlying shares. Compensation Expense Share based compensation expense is recognized on a straight line basis over the vesting period. The amount of expense and related tax benefit is summarized below: December 31, 2015 2014 2013 (in thousands) Share based compensation expense $ 3,735 $ 589 $ 647 U.S. tax benefit on share based compensation expense $ 1,025 $ 135 $ 139 As of December 31, 2015, the Company had $7.5 million of unrecognized share based compensation expense expected to be charged to earnings over a weighted-average period of 2.4 years.

Non-Controlling Interest Subsid

Non-Controlling Interest Subsidiary Common Shares and Share Options	12 Months Ended
	Dec. 31, 2015
Noncontrolling Interest [Abstract]
Non-Controlling Interest - Subsidiary Common Shares and Share Options	12. Non-Controlling Interest — Subsidiary Common Shares and Share Options On April 3, 2013, Franklin Holdings II repurchased 20,766 of its outstanding Class A common shares at a price per share of $25.4748, for a total cash purchase price of $529,000. On October 22, 2013, Franklin Holdings II’s sole minority shareholder transferred 6,000 Franklin Holdings II Class A common shares to the Company (see Note 10).

Income Taxes

Income Taxes	12 Months Ended
Income Taxes	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes Under current Bermuda law, James River Group Holdings, Ltd. and its Bermuda based subsidiary are not required to pay any Bermuda taxes on their income or capital gains. The Company has received an undertaking from the Minister of Finance in Bermuda that, in the event of any taxes being imposed, the Company will be exempt from taxation in Bermuda until March 2035. Distributions from the Company’s U.S. subsidiaries to its U.K. intermediate holding company, James River UK, are subject to a 5% dividend withholding tax. James River Group paid a $50.0 million dividend to James River UK during 2015 and remitted $2.5 million of dividend withholding taxes to the U.S. tax authorities for the year ending December 31, 2015. The Company’s U.S. subsidiaries are subject to federal, state and local corporate income taxes, and other taxes applicable to U.S. corporations. The Company’s U.S.-domiciled subsidiaries file a consolidated U.S. federal income tax return. The Company’s U.S.-based subsidiaries are generally no longer subject to income tax examination by U.S. income tax authorities for the tax years ending before January 1, 2012. The expected income tax provision computed from pre-tax income at the weighted-average tax rate has been calculated as the sum of the pre-tax income in each jurisdiction multiplied by that jurisdiction’s applicable Federal statutory tax rate. Federal statutory tax rates of 0% and 35% have been used for Bermuda and the U.S., respectively. U.S. income before Federal income taxes was $15.2 million, $9.0 million, and $31.1 million for the years ending December 31, 2015, 2014, and 2013, respectively. A reconciliation of the difference between the Company’s Federal income tax provision on U.S. income and the expected Federal tax provision on U.S. income using the weighted-average tax rate as well as a reconciliation to total tax expense is as follows: Year Ended December 31, 2015 2014 2013 (in thousands) Expected Federal income tax expense $ 5,317 $ 3,166 $ 10,906 Tax-exempt investment income (858 ) (751 ) (769 ) Dividends received deduction (867 ) (740 ) (583 ) Tax credits on renewable energy investments — (2,033 ) — Other 379 897 187 Federal income tax expense $ 3,971 $ 539 $ 9,741 U.S. state income tax (benefit) expense (192 ) 400 — U.S. dividend withholding tax 2,500 — — Total income tax expense $ 6,279 $ 939 $ 9,741 The significant components of the net deferred tax asset at the current prevailing corporate income tax rate are summarized as follows: December 31, 2015 2014 (in thousands) Deferred tax assets: Accrued compensation expenses $ 5,318 $ 5,673 Reserve for losses and loss adjustment expenses 4,861 5,112 Unearned premiums 2,474 2,130 Share based compensation 1,948 2,856 Allowance for doubtful accounts 972 695 Deferred policy acquisition costs 593 123 Property and equipment 2,221 1,771 AMT credit 430 — Invested asset impairments 891 824 Other 2,209 1,851 Total deferred tax assets 21,917 21,035 Deferred tax liabilities: Intangible assets 12,573 12,592 Net unrealized gains 3,310 4,248 Deferred gain on extinguishment of debt 318 424 Equity method investments 4,784 2,897 Other 464 423 Total deferred tax liabilities 21,449 20,584 Net deferred tax assets $ 468 $ 451 Deferred income taxes have not been accrued with respect to certain undistributed earnings of foreign subsidiaries. If the earnings were to be distributed, as dividends or otherwise, such amounts may be subject to withholding taxation in the jurisdiction of the paying entity. The Company asserts that U.S. unremitted earnings as of December 31, 2015 will be permanently reinvested in the U.S. and, accordingly, no provision for withholding taxes arising in respect to U.S. unremitted earnings has been made. The Company had no reserve for future tax contingencies or liabilities (“unrecognized tax benefits”) at December 31, 2015 or 2014. The U.S. imposes a 1% excise tax on reinsurance premiums paid to non-U.S. reinsurers with respect to risks located in the U.S. The rates of tax are established based on the nature of the risk, unless reduced by an applicable U.S. tax treaty. For the years ended December 31, 2015, 2014, and 2013, the Company paid $1.9 million, $1.4 million, and $1.4 million, respectively, of federal excise taxes on its intercompany reinsurance transactions. The Company also paid excise taxes of $1.7 million, $1.8 million, and $2.6 million for the years ended December 31, 2015, 2014, and 2013, respectively, on written premiums assumed from third-party insurers with respect to risks located in the U.S. These excise taxes are reflected as “other operating expenses” in the Company’s consolidated income statements.

Other Operating Expenses and Ot

Other Operating Expenses and Other Expenses	12 Months Ended
Other Operating Expenses and Other Expenses	Dec. 31, 2015
Other Operating Expenses And Other Expenses [Abstract]
Other Operating Expenses and Other Expenses	14. Other Operating Expenses and Other Expenses Other operating expenses consist of the following: Year Ended December 31, 2015 2014 2013 (in thousands) Amortization of policy acquisition costs $ 97,750 $ 85,183 $ 71,648 Other underwriting expenses of the insurance segments 41,499 38,748 34,849 Other operating expenses of the Corporate and Other segment 18,554 9,124 8,307 Total $ 157,803 $ 133,055 $ 114,804 Other expenses in the accompanying financial statements for the year ended December 31, 2015 were $730,000 and included $276,000 associated with a related party leasing agreement (Note 22), $170,000 of severance expenses, and $284,000 of legal, tax, and other professional services related to the formation of James River UK, the December 2015 intercompany dividend, and a securities registration statement. Other expenses of $16.0 million for the year ended December 31, 2014 includes $10.2 million of expenses related to a cash bonus pool approved by the Company’s directors and shareholders for certain officers and employees that became effective with the consummation of the Offering. Also included in other expenses for the year ended December 31, 2014 were $4.3 million of legal, audit and other professional services related to the Company’s Offering, $399,000 of other Offering related expenses, $600,000 of employee severance expenses, $183,000 of due diligence costs for various merger and acquisition activities which were not consummated, and $299,000 of expenses associated with a related party leasing agreement (Note 22). Other expenses of $677,000 for the year ended December 31, 2013 includes $392,000 of due diligence expenses related to an acquisition that was not consummated and $285,000 of expenses associated with a related party leasing agreement (Note 22).

Employee Benefits

Employee Benefits	12 Months Ended
Employee Benefits	Dec. 31, 2015
Employee Benefits and Share-based Compensation [Abstract]
Employee Benefits	15. Employee Benefits The Company and its subsidiaries offer savings plans (the “Savings Plans”) which qualify under Section 401(k) of the U.S. Internal Revenue Code. Participants may contribute certain percentages of their pre-tax salary to the Savings Plans subject to statutory limitations. The Company and its subsidiaries match employee contributions at various rates up to a maximum contribution of 6.0% of the participant’s earnings subject to certain statutory limits. For the years ended December 31, 2015, 2014, and 2013, the expense associated with the Savings Plans totaled $1.6 million, $1.3 million, and $1.1 million, respectively.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	12 Months Ended
Commitments and Contingent Liabilities	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	16. Commitments and Contingent Liabilities The Company is a party to various lawsuits arising in the ordinary course of its operations. The Company believes that the ultimate resolution of these matters will not materially impact its financial position, cash flows, or results of operations. The Company leases certain office space under operating leases that expire at various times and are subject to renewal options at market rates prevailing at the time of renewal. Rental expense for such leases was $2.6 million, $2.4 million, and $2.2 million for the years ended December 31, 2015, 2014, and 2013, respectively. As of December 31, 2015, future minimum payments under non-cancelable operating leases for office space are as follows (in thousands): 2016 $ 3,355 2017 3,395 2018 3,308 2019 3,219 2020 2,992 Thereafter 13,276 $ 29,545 Included in the future minimum lease payments is $23.8 million related to the building constructed and owned by a partnership in which the Company has a minority investment (see Note 22). The Company’s Specialty Admitted Insurance segment entered into an agreement to lease certain policy management software. The five year lease began January 1, 2015 and total payments under the lease are $2.2 million spread evenly at $440,000 per year. The Company’s reinsurance subsidiary, JRG Re, entered into two letter of credit facilities with banks as security to third-party reinsureds on reinsurance assumed by JRG Re. JRG Re has established custodial accounts to secure these letters of credit. Under a $100.0 million facility, $96.9 million of letters of credit were issued through December 31, 2015 which were secured by deposits of $111.3 million. Under a $102.5 million facility, $35.1 million of letters of credit were issued through December 31, 2015 which were secured by deposits of $48.5 million. JRG Re has also established trust accounts to secure its obligations to selected reinsureds. The total amount deposited in the trust accounts for the benefit of third-party reinsureds was $241.4 million at December 31, 2015 (see Note 2).

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	12 Months Ended
Other Comprehensive Income (Loss)	Dec. 31, 2015
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Other Comprehensive Income (loss)	17. Other Comprehensive Income (Loss) The following table summarizes the components of other comprehensive (loss) income: Year Ended December 31, 2015 2014 2013 (in thousands) Unrealized (losses) gains arising during the period, before U.S. income taxes $ (13,707 ) $ 12,910 $ (37,225 ) U.S. income taxes 517 (2,820 ) 5,854 Unrealized (losses) gains arising during the period, net of U.S. income taxes (13,190 ) 10,090 (31,371 ) Less reclassification adjustment: Net realized investment gains (losses) 2,402 (1,734 ) 10,733 U.S. income taxes (422 ) 669 (2,859 ) Reclassification adjustment for investment gains (losses) realized in net income 1,980 (1,065 ) 7,874 Other comprehensive (loss) income $ (15,170 ) $ 11,155 $ (39,245 ) In addition to the $2.4 million of realized investment gains on available-for-sale securities for the year ended December 31, 2015, the Company recognized $7.0 million of realized investment losses on its investments in bank loan participations in 2015. In addition to the $1.7 million of realized investment losses on available-for-sale securities for the year ended December 31, 2014, the Company recognized $967,000 of realized investment gains on its investments in bank loan participations and $569,000 of realized investment losses on its short-term and other invested assets in 2014. In addition to the $10.7 million of realized investment gains on available-for-sale securities for the year ended December 31, 2013, the Company recognized $1.9 million of realized investment gains on its investments in bank loan participations in 2013.

Segment Information

Segment Information	12 Months Ended
Segment Information	Dec. 31, 2015
Segment Reporting [Abstract]
Segment Information	18. Segment Information The Company has four reportable segments, three of which are separately managed business units and the fourth (“Corporate and Other”) includes the Company’s remaining operations. The Excess and Surplus Lines segment primarily offers commercial excess and surplus lines liability and excess property insurance products. The Specialty Admitted Insurance segment offers workers’ compensation insurance coverage as well as specialty admitted program and fronting business. The Casualty Reinsurance segment offers commercial liability and non-catastrophe property reinsurance to U.S. insurance companies and to the Company’s U.S.-based insurance subsidiaries. The Corporate and Other segment consists of certain management and treasury activities of James River Group, James River UK, and JRG Holdings as well as interest expense associated with senior debt and Junior Subordinated Debt, and investment income from investments classified as trading or other invested assets. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies. Segment revenues for each reportable segment consist of net earned premiums, net investment income, and realized investment gains (losses). Segment profit (loss) for each reportable segment is measured by underwriting profit (loss), which is generally defined as net earned premiums less losses and loss adjustment expenses and other operating expenses of the operating segments. Fee income and expenses of the Excess and Surplus Lines segment are included in that segment’s underwriting profit (loss). Net fee income of $3.2 million and $883,000 was included in underwriting profit for the years ended December 31, 2015 and 2014, respectively. Segment results are reported prior to the effects of the intercompany reinsurance agreements between the Company’s insurance subsidiaries. All gross written premiums and net earned premiums for all periods presented were generated from policies issued to U.S. based insureds. Excess and Specialty Casualty Corporate Total (in thousands) As of and for the Year Ended Gross written premiums $ 308,717 $ 90,978 $ 172,499 $ — $ 572,194 Net earned premiums 240,878 42,206 178,121 — 461,205 Segment revenues 255,529 44,791 197,586 7,015 504,921 Net investment income 13,427 2,316 22,706 6,386 44,835 Interest expense — — — 6,999 6,999 Underwriting profit (loss) of operating segments 47,607 1,074 (2,558 ) — 46,123 Segment goodwill 181,831 — — — 181,831 Segment assets 671,143 173,094 1,108,278 102,982 2,055,497 As of and for the Year Ended Gross written premiums $ 252,707 $ 59,380 $ 206,680 $ — $ 518,767 Net earned premiums 195,786 28,449 171,977 — 396,212 Segment revenues 208,778 30,896 193,909 5,420 439,003 Net investment income 14,083 2,320 20,745 5,857 43,005 Interest expense — — — 6,347 6,347 Underwriting profit of operating 35,096 33 667 — 35,796 Segment goodwill 181,831 — — — 181,831 Segment assets 684,838 124,503 1,035,084 114,867 1,959,292 As of and for the Year Ended Gross written premiums $ 192,394 $ 20,594 $ 155,530 $ — $ 368,518 Net earned premiums 141,826 17,908 168,344 — 328,078 Segment revenues 165,431 21,582 193,752 5,527 386,292 Net investment income 15,489 2,601 21,907 5,376 45,373 Interest expense — — — 6,777 6,777 Underwriting profit (loss) of operating segments 43,523 (3,868 ) (2,560 ) — 37,095 Segment goodwill 181,831 — — — 181,831 Segment assets 651,249 92,700 967,982 94,862 1,806,793 Year Ended December 31, 2015 2014 2013 (in thousands) Underwriting profit (loss) of the operating segments: Excess and Surplus Lines $ 47,607 $ 35,096 $ 43,523 Specialty Admitted Insurance 1,074 33 (3,868 ) Casualty Reinsurance (2,558 ) 667 (2,560 ) Total underwriting profit (loss) of operating segments 46,123 35,796 37,095 Other operating expenses of the Corporate and Other segment (18,554 ) (9,124 ) (8,307 ) Underwriting profit (loss) 27,569 26,672 28,788 Net investment income 44,835 43,005 45,373 Net realized investment (losses) gains (4,547 ) (1,336 ) 12,619 Other income 245 239 222 Other expenses (730 ) (16,012 ) (677 ) Interest expense (6,999 ) (6,347 ) (6,777 ) Amortization of intangible assets (597 ) (597 ) (2,470 ) Income before income taxes $ 59,776 $ 45,624 $ 77,078 The Company currently has 14 underwriting divisions, including 12 in the Excess and Surplus Lines segment, one in the Specialty Admitted Insurance segment, and one in the Casualty Reinsurance segment. Each underwriting division focuses on a specific industry group or coverage. Gross written premiums by segment and underwriting division are presented below: Year Ended December 31, 2015 2014 2013 (in thousands) Manufacturers and Contractors $ 78,315 $ 72,063 $ 58,509 Excess Casualty 32,458 31,688 32,489 Allied Health 13,513 9,707 9,148 General Casualty 104,742 60,458 22,636 Professional Liability 10,046 10,784 10,695 Energy 30,623 28,980 21,400 Excess Property 12,498 11,795 10,988 Medical Professionals 3,585 3,922 4,492 Life Sciences 8,917 10,155 9,978 Environmental 4,437 3,431 2,557 Sports and Entertainment 2,667 2,753 3,189 Small Business 6,916 6,971 6,313 Total Excess and Surplus Lines segment 308,717 252,707 192,394 Specialty Admitted Insurance segment 90,978 59,380 20,594 Casualty Reinsurance segment 172,499 206,680 155,530 Total $ 572,194 $ 518,767 $ 368,518 The Company does business with two brokers that generated $87.9 million and $42.0 million of gross written premiums for the Excess and Surplus Lines segment for the year ended December 31, 2015, representing 15.4% (BB&T Insurance Services) and 7.3% of consolidated gross written premiums and 28.5% and 13.6% of the Excess and Surplus Lines segment’s gross written premiums, respectively. The Company has agency contracts with various branches within the aforementioned brokers. No other broker generated 10.0% or more of the gross written premiums for the Excess and Surplus Lines segment for the year ended December 31, 2015. The Company does business with two agencies that generated $15.4 million and $14.3 million of gross written premiums for the Specialty Admitted Insurance segment for the year ended December 31, 2015, representing 2.7% and 2.5% of the consolidated gross written premiums and 16.9% and 15.7% of the Specialty Admitted Insurance segment’s gross written premiums. No other agency generated 10.0% or more of the gross written premiums for the Specialty Admitted Insurance segment for the year ended December 31, 2015. The Company does business with two brokers that generated $84.9 million and $27.4 million of gross written premiums for the Casualty Reinsurance segment for the year ended December 31, 2015, representing 14.8% (Atlantic Intermediaries) and 4.8% of consolidated gross written premiums and 49.2% and 15.9% of the Casualty Reinsurance segment’s gross written premiums, respectively. No other broker generated 10.0% or more of the gross written premiums for the Casualty Reinsurance segment for the year ended December 31, 2015. The Casualty Reinsurance segment assumed business from four unaffiliated ceding companies that generated $79.3 million, $29.9 million, $24.8 million, and $20.2 million of gross written premiums for the year ended December 31, 2015, representing 13.9% (State National Insurance Company), 5.2%, 4.3%, and 3.5% of consolidated gross written premiums and 45.9%, 17.3%, 14.4%, and 11.7% of the Casualty Reinsurance segment’s gross written premiums, respectively.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
Fair Value Measurements	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	19. Fair Value Measurements Three levels of inputs are used to measure fair value of financial instruments: (1) Level 1: quoted price (unadjusted) in active markets for identical assets, (2) Level 2: inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the instrument, and (3) Level 3: inputs to the valuation methodology are unobservable for the asset or liability. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. To measure fair value, the Company obtains quoted market prices for its investment securities from its outside investment managers. If a quoted market price is not available, the Company uses prices of similar securities. Values for U.S. Treasury and publicly-traded equity securities are generally based on Level 1 inputs which use the market approach valuation technique. The values for all other fixed maturity securities (including state and municipal securities and obligations of U.S. government corporations and agencies) generally incorporate significant Level 2 inputs, and in some cases, Level 3 inputs, using the market approach and income approach valuation techniques. There have been no changes in the Company’s use of valuation techniques since December 31, 2013. The Company reviews fair value prices provided by its outside investment managers for reasonableness by comparing the fair values provided by the managers to those provided by our investment custodian. The Company also reviews and monitors changes in unrealized gains and losses. The Company has not historically adjusted security prices. The Company obtains an understanding of the methods, models and inputs used by the investment managers and independent pricing services, and controls are in place to validate that prices provided represent fair values. The Company’s control process includes, but is not limited to, initial and ongoing evaluation of the methodologies used, a review of specific securities and an assessment for proper classification within the fair value hierarchy, and obtaining and reviewing internal control reports for our investment manager that obtains fair values from independent pricing services. Assets measured at fair value on a recurring basis as of December 31, 2015 are summarized below: Fair Value Measurements Using Quoted Prices Significant Significant Total (in thousands) Available-for-sale securities Fixed maturity securities: State and municipal $ — $ 103,457 $ — $ 103,457 Residential mortgage-backed — 136,887 — 136,887 Corporate — 363,168 — 363,168 Commercial mortgage and asset-backed — 125,696 5,000 130,696 Obligations of U.S. government corporations and agencies — 90,163 — 90,163 U.S. Treasury securities and obligations guaranteed by 72,542 713 — 73,255 Redeemable preferred stock — 2,034 — 2,034 Total fixed maturity securities 72,542 822,118 5,000 899,660 Equity securities: Preferred stock — 54,092 — 54,092 Common stock 19,285 734 — 20,019 Total equity securities 19,285 54,826 — 74,111 Total available-for-sale securities $ 91,827 $ 876,944 $ 5,000 $ 973,771 Trading securities: Fixed maturity securities $ 1,244 $ 3,802 $ — $ 5,046 Short-term investments $ 2,926 $ 16,344 $ — $ 19,270 Assets measured at fair value on a recurring basis as of December 31, 2014 are summarized below: Fair Value Measurements Using Quoted Prices Significant Significant Total (in thousands) Available-for-sale securities Fixed maturity securities: State and municipal $ — $ 99,046 $ — $ 99,046 Residential mortgage-backed — 115,249 — 115,249 Corporate — 267,882 — 267,882 Commercial mortgage and asset-backed — 113,341 — 113,341 Obligations of U.S. government corporations and agencies — 101,275 — 101,275 U.S. Treasury securities and obligations guaranteed by 56,891 1,378 — 58,269 Redeemable preferred stock — 1,901 — 1,901 Total fixed maturity securities 56,891 700,072 — 756,963 Equity securities: Preferred stock — 49,601 — 49,601 Common stock 17,570 734 — 18,304 Total equity securities 17,570 50,335 — 67,905 Total available-for-sale securities $ 74,461 $ 750,407 $ — $ 824,868 Trading securities: Fixed maturity securities $ — $ 7,388 $ — $ 7,388 Short-term investments $ 58,507 $ 73,349 $ — $ 131,856 A reconciliation of the beginning and ending balances of available-for-sale fixed maturity securities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) is shown below: Year Ended December 31, 2015 2014 2013 (in thousands) Beginning balance $ — $ — $ — Transfers out of Level 3 — — — Transfers in to Level 3 — — — Purchases 5,000 — — Sales — — — Amortization of discount — — — Total gains or losses (realized/unrealized): — — — Included in earnings — — — Included in other comprehensive income — — — Ending balance $ 5,000 $ — $ — At December 31, 2015, the Company held one available-for-sale fixed maturity security for which the fair value was determined using significant unobservable inputs (Level 3). A market approach using prices in trades of comparable securities was utilized to determine a fair value of $5.0 million for the security at December 31, 2015. Transfers out of Level 3 occur when the Company is able to obtain reliable prices from pricing vendors for which the Company was previously unable to obtain reliable prices. Transfers in to Level 3 occur when the Company is unable to obtain reliable prices for securities from pricing vendors and instead must use broker price quotes. There were no transfers between Level 1 and Level 2 during 2015, 2014 or 2013. The Company recognizes transfers between levels at the beginning of the reporting period. There were no realized gains or losses included in earnings for the year ended December 31, 2015 attributable to the change in unrealized gains or losses relating to Level 3 assets valued at fair value on a recurring basis that are still held at December 31, 2015. The Company measures certain bank loan participations at fair value on a non-recurring basis during the year as part of the Company’s impairment evaluation when loans are determined by management to be impaired. Assets measured at fair value on a nonrecurring basis are summarized below: Fair Value Measurements Using Quoted Prices Significant Significant Total (in thousands) December 31, 2015 Bank loan participations held-for-investment $ — $ — $ 2,342 $ 2,342 There were no assets measured at fair value on a nonrecurring basis at December 31, 2014. At December 31, 2015, bank loan participations held for investment that were determined to be impaired were written down to their fair value of $2.3 million. In the determination of the fair value for bank loan participations and certain high yield bonds, the Company’s investment manager endeavors to obtain data from multiple external pricing sources. External pricing sources may include brokers, dealers and price data vendors that provide a composite price based on prices from multiple dealers. Such external pricing sources typically provide valuations for normal institutional size trading units of such securities using methods based on market transactions for comparable securities, and various relationships between securities, as generally recognized by institutional dealers. For investments in which the investment manager determines that only one external pricing source is appropriate or if only one external price is available, the relevant investment is generally recorded at fair value based on such price. Investments for which external sources are not available or are determined by the investment manager not to be representative of fair value are recorded at fair value as determined by the Company, with input from its investment managers and valuation specialists as considered necessary. In determining the fair value of such investments, the Company considers one or more of the following factors: type of security held, convertibility or exchangeability of the security, redeemability of the security (including the timing of redemptions), application of industry accepted valuation models, recent trading activity, liquidity, estimates of liquidation value, purchase cost, and prices received for securities with similar terms of the same issuer or similar issuers. At December 31, 2015, there were bank loan participations with an unpaid principal balance of $5.3 million and a carrying value of $4.6 million for which external sources were unavailable to determine fair value. At December 31, 2014, there were bank loan participations with an unpaid principal balance of $14.1 million and a carrying value of $12.7 million for which external sources were unavailable to determine fair value. The carrying values and fair values of financial instruments are summarized below: December 31, 2015 2014 Carrying Fair Carrying Fair (in thousands) Assets Available-for-sale: Fixed maturity securities $ 899,660 $ 899,660 $ 756,963 $ 756,963 Equity securities 74,111 74,111 67,905 67,905 Trading: Fixed maturity securities 5,046 5,046 7,388 7,388 Bank loan participations held-for-investment 191,700 180,086 239,511 231,251 Cash and cash equivalents 106,406 106,406 73,383 73,383 Short-term investments 19,270 19,270 131,856 131,856 Other invested assets – notes receivable 11,000 12,548 4,500 6,410 Liabilities Senior debt 88,300 79,539 88,300 79,850 Junior subordinated debt 104,055 84,594 104,055 89,100 The fair values of fixed maturity securities and equity securities have been determined using quoted market prices for securities traded in the public market or prices using bid or closing prices for securities not traded in the public marketplace. The fair values of cash and cash equivalents and short-term investments approximate their carrying values due to their short-term maturity. The fair values of other invested assets-notes receivable, senior debt, and Junior Subordinated Debt at December 31, 2015 and 2014 were determined by calculating the present value of expected future cash flows under the terms of the note agreements or debt agreements, as applicable, discounted at an estimated market rate of interest at December 31, 2015 and 2014, respectively. For notes receivable maturing within one year, carrying value was used to approximate fair value. The fair values of bank loan participations held-for-investment, senior debt, and junior subordinated debt at December 31, 2015 and 2014 were determined using inputs to the valuation methodology that are unobservable (Level 3).

Statutory Matters

Statutory Matters	12 Months Ended
Statutory Matters	Dec. 31, 2015
Statutory Matters [Abstract]
Statutory Matters	20. Statutory Matters U.S. U.S. state insurance laws and regulations prescribe accounting practices for determining statutory net income and capital and surplus for insurance companies. In addition, state regulators may permit statutory accounting practices that differ from prescribed practices. Statutory accounting practices prescribed or permitted by regulatory authorities for the Company’s insurance subsidiaries differ from U.S. GAAP. The principal differences between SAP and GAAP as they relate to the financial statements of the Company’s insurance subsidiaries are (a) policy acquisition costs are expensed as incurred under SAP, whereas they are deferred and amortized under GAAP, (b) certain assets are not admitted for purposes of determining surplus under SAP, (c) the classification and carrying amounts of investments in certain securities are different under SAP and GAAP, and (d) the criteria for providing asset valuation allowances and the methodologies used to determine the amount thereof are different under SAP and GAAP. Combined net income, statutory capital and surplus and minimum required statutory capital and surplus, as determined in accordance with statutory accounting practices, for the U.S. insurance subsidiaries as of December 31, 2015, 2014, and 2013 and for the years then ended are summarized as follows: 2015 2014 2013 (in thousands) Statutory net income $ 14,747 $ 14,872 $ 24,857 Statutory capital and surplus 176,884 207,813 208,369 Minimum required statutory capital and surplus 25,000 21,250 21,250 Risk-Based Capital (“RBC”) requirements promulgated by the National Association of Insurance Commissioners require property/casualty insurers to maintain minimum capitalization levels determined based on formulas incorporating various business risks of the insurance subsidiaries. As of December 31, 2015, the insurance subsidiaries’ adjusted capital and surplus exceeds their authorized control level RBC. Bermuda Under the Bermuda Insurance Act, 1978 and related regulations, JRG Re is required to maintain certain solvency and liquidity levels. The minimum statutory solvency margin required at December 31, 2015 was approximately $73.7 million. Actual statutory capital and surplus at December 31, 2015 was $357.7 million. JRG Re had statutory net income of $54.3 million for 2015, $35.0 million for 2014, and $52.6 million for 2013. JRG Re had shareholders’ equity of $424.6 million on a GAAP basis at December 31, 2015. The principal difference between statutory capital and surplus and shareholders’ equity presented in accordance with GAAP are deferred acquisition costs, which are non-admitted assets for Bermuda statutory purposes. JRG Re maintains a Class 3B license and thus must maintain a minimum liquidity ratio in which the value of its relevant assets is not less than 75.0% of the amount of its relevant liabilities for general business. Relevant assets include cash and cash equivalents, fixed maturities, alternative investments, accrued interest income, premiums receivable, losses recoverable from reinsurers, and funds withheld. The relevant liabilities include total general business insurance reserves and total other liabilities, less sundry liabilities. As of December 31, 2015, the Company met the minimum liquidity ratio requirement.

Dividend Restrictions

Dividend Restrictions	12 Months Ended
Dividend Restrictions	Dec. 31, 2015
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments [Abstract]
Dividend Restrictions	21. Dividend Restrictions U.S. The insurance statutes of the U.S.-based insurance subsidiaries’ states of domicile limit the amount of dividends that they may pay annually without first obtaining regulatory approval. Generally, the limitations are based on the greater of statutory net income for the preceding year or 10.0% of statutory surplus at the end of the preceding year. The maximum amount of dividends available to James River Group from its U.S. insurance subsidiaries during 2016 without regulatory approval is $19.8 million. However, U.S. insurance regulators have broad powers to prevent the reduction of statutory surplus to inadequate levels and could refuse to permit the payment of dividends. There is no tax treaty between Bermuda and the U.S. Accordingly, the payment of any dividends by the Company’s U.S.-based subsidiaries directly to a Bermuda-based entity is subject to U.S. taxes at a 30.0% tax rate. JRG Holdings has determined that earnings of its U.S. subsidiaries have been and will be indefinitely reinvested in U.S. operations. Distributions from the Company’s U.S.-based subsidiaries to its U.K. intermediate holding company, James River UK, are subject to a 5% dividend withholding tax. Bermuda Bermuda regulations limit the amount of dividends and return of capital paid by a regulated entity. A class 3B insurer is prohibited from declaring or paying a dividend if it is in breach of its minimum solvency margin, its enhanced capital requirement, or its minimum liquidity ratio, or if the declaration or payment of such dividend would cause such a breach. Pursuant to Bermuda regulations, the maximum amount of dividends and return of capital available to be paid by a reinsurer is determined pursuant to a formula. Under this formula, the maximum amount of dividends and return of capital available to the Company from JRG Re during 2016 is calculated to be approximately $89.4 million. However, this dividend amount is subject to annual enhanced solvency requirement calculations which we believe may decrease this available dividend amount. As of December 31, 2015, JRG Holdings had consolidated retained earnings of $47.0 million, all of which was available for the payment of dividends to shareholders.

Other Related Party Transaction

Other Related Party Transactions	12 Months Ended
Other Related Party Transactions	Dec. 31, 2015
Related Party Transactions [Abstract]
Other Related Party Transactions	22. Other Related Party Transactions The Company leases a commercial office building which houses the Company’s Richmond, Virginia operations under the terms of a non-cancelable lease from an entity with which it is affiliated. As a result of being deemed the owner for accounting purposes, the building is recorded as an asset and the related financing obligation is recorded as a liability on the accompanying consolidated balance sheets. Since the arrangement did not qualify for sale-lease back treatment upon completion of the asset’s construction, the Company continues to reduce the obligation over the lease term as payments are made and depreciates the asset over its useful life. Both the financing obligation and the lease had initial 10-year terms which started in 2007. In 2015, the term of the lease and financing obligation were extended until 2026. The arrangements provide for 2.0% fixed annual rent increases. The Chairman of the Board and Chief Executive Officer of the Company owns a plane that the Company periodically leases. Total fees paid by the Company for the use of this plane were $211,000, $690,000, and $228,000 for 2015, 2014, and 2013, respectively. Prior to the Company’s Offering, the Company had various compensation arrangements with one of the Company’s Independent Directors. Pursuant to these agreements, the director was paid $250,000 and $256,000 in director fees, Investment Committee Chairman service fees, and investment and other business consulting fees for 2014, and 2013, respectively. Upon the Company’s Offering, the Company entered into a consulting agreement (the “Consulting Agreement”) with this director. Under the terms of the Consulting Agreement, the director received $150,000 in 2015 for investment and other business consulting services. The Consulting Agreement is for one year and automatically renews for a one year term unless written notice is provided 30 days prior to the expiration of the term.

Subsequent Events

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	23. Subsequent Events On February 16, 2016, the Board of Directors declared a cash dividend of $0.20 per share. The dividend is payable on March 28, 2016 to shareholders of record on March 14, 2016. On February 16, 2016, the Board of Directors granted awards under the 2014 LTIP to the Company’s employees and directors. Non-qualified stock options for 706,203 shares were granted with an exercise price of $32.07 per share and three year vesting period. RSUs for 58,660 shares were also awarded with a fair value on the date of grant of $32.07 per share. The RSUs vest over one to three year periods, depending on the award.

Unaudited Selected Quarterly Fi

Unaudited Selected Quarterly Financial Data	12 Months Ended
Unaudited Selected Quarterly Financial Data	Dec. 31, 2015
Quarterly Financial Data [Abstract]
Unaudited Selected Quarterly Financial Data	24. Unaudited Selected Quarterly Financial Data The following is a summary of the unaudited quarterly results of operations: 2015 Quarter 2015 First Second Third Fourth Year (in thousands, except per share data) Gross written premiums $ 131,258 $ 184,011 $ 148,236 $ 108,689 $ 572,194 Total revenues 126,467 120,227 133,123 125,104 504,921 Net income 9,377 12,489 18,961 12,670 53,497 Comprehensive income 13,326 (2,516 ) 20,547 6,970 38,327 Earnings per share: Basic $ 0.33 $ 0.44 $ 0.66 $ 0.44 $ 1.87 Diluted $ 0.32 $ 0.43 $ 0.64 $ 0.43 $ 1.82 2014 Quarter 2014 First Second Third Fourth Year (in thousands, except per share data) Gross written premiums $ 147,241 $ 96,960 $ 171,415 $ 103,151 $ 518,767 Total revenues 99,695 106,796 111,817 120,695 439,003 Net income 9,138 9,513 17,168 8,866 44,685 Comprehensive income 14,911 15,244 12,748 12,937 55,840 Earnings per share: Basic $ 0.32 $ 0.33 $ 0.60 $ 0.31 $ 1.57 Diluted $ 0.32 $ 0.33 $ 0.60 $ 0.31 $ 1.55

SCHEDULE I - Summary of Investm

SCHEDULE I - Summary of Investments - Other than Investments in Related Parties	12 Months Ended
	Dec. 31, 2015
Summary of Investments, Other than Investments in Related Parties [Abstract]
Summary of Investments - Other than Investments in Related Parties	Summary of Investments — Other than Investments in Related Parties Type of Investment Cost or Fair Amount at (1) (in thousands) Fixed maturity securities, available-for-sale: State and municipal $ 95,864 $ 103,457 $ 103,457 Residential mortgage-backed 137,308 136,887 136,887 Corporate 368,961 363,168 363,168 Commercial mortgage and asset-backed 130,231 130,696 130,696 Obligations of U.S. government corporations and agencies 89,734 90,163 90,163 U.S. Treasury securities and obligations guaranteed by the U.S. government 73,322 73,255 73,255 Redeemable preferred stock 2,025 2,034 2,034 Total fixed maturity securities, available-for-sale 897,445 899,660 899,660 Fixed maturity securities, trading 5,053 5,046 5,046 Equity securities, available-for-sale Preferred Stock 50,631 54,092 54,092 Common Stock 12,747 11,652 11,652 Total equity securities, available-for-sale 63,378 65,744 65,744 Bank loan participations, held-for-investment, net of allowance 191,700 180,086 191,700 Short-term investments 18,270 18,270 18,270 Other invested assets 15,349 Total invested assets $ 1,195,769 (1) Differences between the amounts in this column and the amounts in the consolidated balance sheet are due to this schedule excluding investments in related parties.

SCHEDULE II - Condensed Financi

SCHEDULE II - Condensed Financial Information of Registrant	12 Months Ended
SCHEDULE II - Condensed Financial Information of Registrant	Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Statements of Income and Comprehensive Income (Parent Company)	Condensed Financial Information of Registrant Balance Sheets (Parent Company) December 31, 2015 2014 (in thousands) Assets Cash and cash equivalents $ 1,976 $ 623 Investment in subsidiaries 891,627 893,365 Due from subsidiaries — 247 Other assets 2,152 2,450 Total assets $ 895,755 $ 896,685 Liabilities and shareholders’ equity Liabilities: Accrued expenses $ 3,243 $ 4,473 Senior debt 73,300 73,300 Junior subordinated debt 15,928 15,928 Notes payable to subsidiary 100,000 100,000 Due to subsidiaries 20,541 14,884 Other liabilities 1,705 179 Total liabilities 214,717 208,764 Commitments and contingent liabilities Shareholders’ equity: Class A common shares 6 6 Additional paid-in capital 630,820 628,236 Retained earnings 47,026 41,323 Accumulated other comprehensive income 3,186 18,356 Total shareholders’ equity 681,038 687,921 Total liabilities and shareholders’ equity $ 895,755 $ 896,685 Condensed Financial Information of Registrant Statements of Income and Comprehensive Income (Parent Company) Year Ended December 31, 2015 2014 2013 (in thousands) Revenues: Management fees from subsidiaries $ — $ 2,600 $ 2,600 Other income 40 40 — Total revenues 40 2,640 2,600 Expenses: Other operating expenses 8,254 5,204 4,746 Other expenses 284 7,353 389 Interest expense 3,687 3,099 1,638 Total expenses 12,225 15,656 6,773 Loss before equity in net income of subsidiaries (12,185 ) (13,016 ) (4,173 ) Equity in net income of subsidiaries 65,682 57,701 71,510 Net income $ 53,497 $ 44,685 $ 67,337 Other comprehensive income: Equity in other comprehensive (losses) earnings of subsidiaries (15,170 ) 11,155 (39,245 ) Total comprehensive income $ 38,327 $ 55,840 $ 28,092 Condensed Financial Information of Registrant Statements of Cash Flows (Parent Company) Year Ended December 31, 2015 2014 2013 Operating activities Net income $ 53,497 $ 44,685 $ 67,337 Adjustments to reconcile net income to net cash (used in) provided by operating activities: Provision for depreciation and amortization 157 203 129 Share based compensation expense 3,735 589 647 Equity in undistributed earnings of subsidiaries (65,682 ) (57,701 ) (71,510 ) Changes in operating assets and liabilities: 5,952 12,443 2,213 Net cash (used in) provided by operating activities (2,341 ) 219 (1,184 ) Investing activities Dividends from subsidiaries 52,250 50,000 — Purchases of property and equipment — — (3 ) Net cash provided by (used in) investing activities 52,250 50,000 (3 ) Financing activities Dividends paid (47,405 ) (69,998 ) — Merger with subsidiary — — 217 Senior debt issuance 10,000 30,300 43,000 Senior debt repayments (10,000 ) — — Subsidiary note issuance — — 100,000 Subsidiary note repayment — — (11,000 ) Contribution to subsidiary — (10,000 ) (20,000 ) Debt issue costs paid — (412 ) (649 ) Issuances of common shares under equity incentive plans 1,730 — — Common share repurchases (6,461 ) — (110,760 ) Excess tax benefits from equity incentive plan transactions 3,580 — — Net cash (used in) provided by financing activities (48,556 ) (50,110 ) 808 Change in cash and cash equivalents 1,353 109 (379 ) Cash and cash equivalents at beginning of period 623 514 893 Cash and cash equivalents at end of period $ 1,976 $ 623 $ 514 Supplemental information Interest paid $ 4,337 $ 3,733 $ 1,970 1. Accounting Policies Organization James River Group Holdings, Ltd. (the “Company”) is an exempted holding company registered in Bermuda, organized for the purpose of acquiring and managing insurance and reinsurance entities. Basis of Presentation and Principles of Consolidation The accompanying condensed financial statements have been prepared using the equity method. Under the equity method, the investment in consolidated subsidiaries is stated at cost plus equity in undistributed earnings of consolidated subsidiaries since the date of acquisition. These condensed financial statements should be read in conjunction with the Company’s consolidated financial statements. Estimates and Assumptions Preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying disclosures. Those estimates are inherently subject to change, and actual results may ultimately differ from those estimates.

SCHEDULE III - Supplementary In

SCHEDULE III - Supplementary Insurance Information	12 Months Ended
SCHEDULE III - Supplementary Insurance Information	Dec. 31, 2015
Supplementary Insurance Information [Abstract]
Supplementary Insurance Information	Supplementary Insurance Information (in thousands) Deferred Reserve Unearned Net Net Losses Amortization Other Net December 31, 2015 Excess and Surplus Lines $ 15,266 $ 468,438 $ 114,369 $ 240,878 $ 13,427 $ 131,221 $ 42,069 $ 65,233 $ 253,285 Specialty Admitted 2,184 76,179 40,622 42,206 2,316 25,623 4,455 15,509 44,917 Casualty Reinsurance 43,304 240,705 146,113 178,121 22,706 122,172 51,226 58,507 172,830 Corporate and Other — — — — 6,386 — — 18,554 — Total $ 60,754 $ 785,322 $ 301,104 $ 461,205 $ 44,835 $ 279,016 $ 97,750 $ 157,803 $ 471,032 December 31, 2014 Excess and Surplus Lines $ 14,146 $ 432,220 $ 100,554 $ 195,786 $ 14,083 $ 108,146 $ 33,464 $ 53,427 $ 208,124 Specialty Admitted 1,838 54,544 25,295 28,449 2,320 15,179 3,306 13,237 36,228 Casualty Reinsurance 44,218 229,532 151,730 171,977 20,745 114,043 48,413 57,267 205,731 Corporate and Other — — — — 5,857 — – 9,124 — Total $ 60,202 $ 716,296 $ 277,579 $ 396,212 $ 43,005 $ 237,368 $ 85,183 $ 133,055 $ 450,083 December 31, 2013 Excess and Surplus Lines $ 11,435 $ 378,967 $ 89,630 $ 141,826 $ 15,489 $ 57,250 $ 23,518 $ 41,053 $ 155,064 Specialty Admitted 949 58,906 7,500 17,908 2,601 12,066 2,212 9,710 18,169 Casualty Reinsurance 33,820 208,579 121,402 168,344 21,907 115,170 45,918 55,734 151,933 Corporate and Other — — — — 5,376 — — 8,307 — Total $ 46,204 $ 646,452 $ 218,532 $ 328,078 $ 45,373 $ 184,486 $ 71,648 $ 114,804 $ 325,166

SCHEDULE IV - Reinsurance

SCHEDULE IV - Reinsurance	12 Months Ended
SCHEDULE IV - Reinsurance	Dec. 31, 2015
Supplemental Schedule of Reinsurance Premiums for Insurance Companies [Abstract]
Reinsurance	Reinsurance Direct Ceded Assumed Net Percentage Year Ended December 31, 2015 Excess and Surplus Lines Written Premiums $ 308,713 $ 55,432 $ 4 $ 253,285 — Specialty Admitted Written Premiums 87,103 46,061 3,875 44,917 8.6 % Casualty Reinsurance Written Premiums — (331 ) 172,499 172,830 99.8 % Total Written Premiums $ 395,816 $ 101,162 $ 176,378 $ 471,032 37.4 % Year Ended December 31, 2014 Excess and Surplus Lines Written Premiums $ 252,707 $ 44,583 $ — $ 208,124 — Specialty Admitted Written Premiums 57,454 23,152 1,926 36,228 5.3 % Casualty Reinsurance Written Premiums — 949 206,680 205,731 100.5 % Total Written Premiums $ 310,161 $ 68,684 $ 208,606 $ 450,083 46.3 % Year Ended December 31, 2013 Excess and Surplus Lines Written Premiums $ 192,394 $ 37,330 $ — $ 155,064 — Specialty Admitted Written Premiums 19,213 2,425 1,381 18,169 7.6 % Casualty Reinsurance Written Premiums — 3,597 155,530 151,933 102.4 % Total Written Premiums $ 211,607 $ 43,352 $ 156,911 $ 325,166 48.3 %

SCHEDULE V - Valuation and Qual

SCHEDULE V - Valuation and Qualifying Accounts	12 Months Ended
SCHEDULE V - Valuation and Qualifying Accounts	Dec. 31, 2015
Valuation and Qualifying Accounts [Abstract]
Valuation and Qualifying Accounts	Valuation and Qualifying Accounts Balance Additions Deductions Balance Year Ended December 31, 2015 Allowance for Doubtful Accounts $ 1,985 $ 1,061 $ (268 ) $ 2,778 Allowance for Credit Losses on Bank Loans 752 3,896 (338 ) 4,310 Total $ 2,737 $ 4,957 $ (606 ) $ 7,088 Year Ended December 31, 2014 Allowance for Doubtful Accounts $ 1,701 $ 812 $ (528 ) $ 1,985 Allowance for Credit Losses on Bank Loans 242 752 (242 ) 752 Total $ 1,943 $ 1,564 $ (770 ) $ 2,737 Year Ended December 31, 2013 Allowance for Doubtful Accounts $ 2,220 $ 459 $ (978 ) $ 1,701 Allowance for Credit Losses on Bank Loans 121 121 — 242 Total $ 2,341 $ 580 $ (978 ) $ 1,943

SCHEDULE VI - Supplementary Inf

SCHEDULE VI - Supplementary Information Concerning Property Casualty Insurance Operations	12 Months Ended
	Dec. 31, 2015
Supplemental Information for Property, Casualty Insurance Underwriters [Abstract]
Supplementary Information Concerning Property Casualty Insurance Operations	Supplementary Information Concerning Property Casualty Insurance Operations Year Ended December 31, 2015 2014 2013 (in thousands) Deferred policy acquisition costs $ 60,754 $ 60,202 $ 46,204 Reserve for losses and loss adjustment expenses 785,322 716,296 646,452 Unearned premiums 301,104 277,579 218,532 Net earned premiums 461,205 396,212 328,078 Net investment income 44,835 43,005 45,373 Losses and loss adjustment expenses incurred: Current year 295,334 264,786 221,938 Prior year (16,318 ) (27,418 ) (37,452 ) Total losses and loss adjustment expenses incurred 279,016 237,368 184,486 Amortization of policy acquisition costs 97,750 85,183 71,648 Paid losses and loss adjustment expenses, net of reinsurance 214,524 175,311 191,410 Net written premiums 471,032 450,083 325,166

Accounting Policies (Policies)

Accounting Policies (Policies)	12 Months Ended
Accounting Policies (Policies)	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), which vary in some respects from statutory accounting practices (“SAP”) which are prescribed or permitted by the various state insurance departments in the U.S. or by insurance regulators in Bermuda. The accompanying consolidated financial statements include the accounts and operations of the Company and its subsidiaries. All significant intercompany transactions and balances have been eliminated.
Estimates and Assumptions	Estimates and Assumptions Preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying disclosures. Those estimates are inherently subject to change, and actual results may ultimately differ from those estimates.
Fixed Maturity and Equity Securities	Fixed Maturity and Equity Securities Fixed maturity and equity securities classified as “available-for-sale” are carried at fair value, and unrealized gains and losses on such securities, net of any deferred taxes, are reported as a separate component of accumulated other comprehensive income. Fixed maturity securities purchased for short-term resale are classified as “trading” and are carried at fair value with unrealized gains and losses included in earnings as a component of net investment income. The Company does not have any securities classified as “held-to-maturity”. Fair value generally represents quoted market value prices for securities traded in the public marketplace or prices analytically determined using bid or closing prices for securities not traded in the public marketplace. Premiums and discounts on mortgage-backed securities and asset-backed securities are amortized or accrued using the constant yield method which considers anticipated prepayments at the date of purchase. To the extent that the estimated lives of such securities change as a result of changes in estimated prepayment rates, the adjustments are included in net investment income using the retrospective method. Realized investment gains or losses are determined on a specific identification basis. Interest income is recognized as earned, and dividend income is recognized on the ex-dividend date. The Company evaluates its available-for-sale investments regularly to determine whether there are declines in value that are other-than-temporary. The Company’s outside investment managers assist the Company in this evaluation. When the Company determines that a security has experienced an other-than-temporary impairment, the impairment loss is recognized as a realized investment loss. The factors that the Company considers in evaluating whether such an other-than-temporary impairment has occurred include the amount and percentage that fair value is below amortized cost or cost and the length of time that fair value has been below amortized cost or cost. For fixed maturity securities, the Company considers the credit quality rating of the security, with a special emphasis on securities downgraded below investment grade. Management does not intend to sell available-for-sale fixed maturity securities in an unrealized loss position, and it is not “more likely than not” that the Company will be required to sell these securities before a recovery in fair value to their amortized cost basis occurs. For equity securities, management evaluates the near-term prospects of these investments in relation to the severity and duration of the impairment, and the Company’s ability and intent to hold these investments until a recovery of fair value occurs.
Bank Loan Participations Held-for-Investment and Allowance for Credit Losses	Bank Loan Participations Held-for-Investment and Allowance for Credit Losses Bank loan participations held-for-investment are managed by a specialized outside investment manager and are generally stated at their outstanding unpaid principal balances net of unamortized premiums or discounts and net of any allowance for credit losses. Interest income is accrued on the unpaid principal balance. Discounts and premiums are amortized to income using the interest method. Generally, the accrual of interest on a bank loan participation is discontinued when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about further collectability of principal or interest. A bank loan participation may remain on accrual status if it is in the process of collection and is either guaranteed or well secured. Interest received on nonaccrual loans generally is reported as investment income. There were no bank loans on nonaccrual status at December 31, 2015 or 2014. Generally, bank loan participations are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time, and the ultimate collectability of the total contractual principal and interest is no longer in doubt. The allowance for credit losses is maintained at a level believed adequate by management to absorb estimated probable credit losses. Management’s periodic evaluation of the adequacy of the allowance is based on consultations and advice of the Company’s specialized investment manager, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral, current economic conditions, and other relevant factors. When an observable market price for a loan is available, the Company has recorded an allowance equal to the difference between the fair value and the amortized cost of bank loans that it has determined to be impaired as a practical expedient for an estimate of probable future cash flows to be collected on those bank loans. If an observable market price for a loan is not available, the Company records an allowance equal to the difference between the present value of expected future cash flows discounted at the loan’s effective interest rate and the amortized cost of the loan.
Other Invested Assets	Other Invested Assets Other invested assets at December 31, 2015 and 2014 include the Company’s interests in private debt and equity investments. The investments are primarily focused in renewable energy, limited partnerships, and bank holding companies. Equity interests in various limited liability companies (“LLCs”) and limited partnerships are accounted for under the equity method, as the Company has determined that the equity method best reflects its economic interest in the underlying equity investment. For certain note agreements, original discounts and commitment fees received are recognized over the terms of the notes under the effective interest method.
Short-Term Investments	Short-Term Investments Short-term investments are carried at cost, which approximates fair value. Short-term investments have maturities greater than three months but less than one year at the date of purchase.
Cash Equivalents	Cash Equivalents The Company considers highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents.
Direct Written Premiums	Direct Written Premiums Direct written premiums are earned on a pro rata basis over the terms of the policies, generally 12 months. The portion of premiums written applicable to the unexpired terms of the policies in force is recorded as unearned premiums. Policies are accounted for on an individual basis, with no aggregation by counterparty.
Assumed Reinsurance Premiums	Assumed Reinsurance Premiums Assumed reinsurance written premiums include amounts reported by brokers and ceding companies, supplemented by the Company’s own estimates of premiums when reports have not been received. Premiums on the Company’s excess of loss and pro rata reinsurance contracts are estimated when the business is underwritten. For excess of loss contracts, the deposit premium, as defined in the contract, is generally recorded as an estimate of premiums written at the inception date of the treaty. Estimates of premiums written under pro rata contracts are recorded in the period in which the underlying risks are expected to begin and are based on information provided by the brokers and the ceding companies. Reinsurance premium estimates are reviewed by management periodically. Any adjustment to these estimates is recorded in the period in which it becomes known. Reinsurance premiums assumed are earned over the terms of the underlying policies or reinsurance contracts. Contracts and policies written on a “losses occurring” basis cover claims that may occur during the term of the contract or policy, which is typically 12 months. Accordingly, the premium is earned evenly over the term. Contracts which are written on a “risks attaching” basis cover claims which attach to the underlying insurance policies written during the terms of such contracts. Premiums earned on such contracts usually extend beyond the original term of the reinsurance contract, typically resulting in recognition of premiums earned over a 24-month period in proportion to the level of underlying exposure. Contracts are accounted for on an individual basis, with no aggregation by counterparty.
Premiums Receivable and Agents' Balances, Net	Premiums Receivable and Agents’ Balances, Net Premiums receivable and agents’ balances are carried at face value net of any allowance for doubtful accounts, which approximates fair value. The allowance for doubtful accounts represents an estimate of amounts considered uncollectible based on the Company’s assessment of the collectability of receivables that are past due. Receivables greater than 90 days past due were $2.6 million and $1.8 million at December 31, 2015 and 2014, respectively. The allowance for doubtful accounts was $2.8 million and $2.0 million at December 31, 2015 and 2014, respectively. Bad debt expense was $1.1 million for the year ended December 31, 2015, $812,000 for the year ended December 31, 2014, and $459,000 for the year ended December 31, 2013. Receivables written off against the allowance for doubtful accounts totaled $268,000 for the year ended December 31, 2015, $528,000 for the year ended December 31, 2014, and $978,000 for the year ended December 31, 2013. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote.
Deferred Policy Acquisition Costs	Deferred Policy Acquisition Costs Costs which are incrementally or directly related to the successful acquisition of new or renewal insurance business are deferred. These deferred costs are primarily commissions to agents, ceding commissions paid on reinsurance assumed, premium taxes, and the portion of underwriting fixed compensation and payroll related fringe benefits directly related to an insurance contract that has been acquired, net of ceding commissions related to reinsurance ceded. Amortization of such policy acquisition costs is charged to expense in proportion to premium earned over the estimated policy life. To the extent that unearned premiums on existing policies are not adequate to cover projected related costs and expenses, deferred policy acquisition costs are charged to earnings. The Company considers anticipated investment income in determining whether a premium deficiency exists.
Reinsurance and Adjustable Features of Insurance and Reinsurance Contracts	Reinsurance and Adjustable Features of Insurance and Reinsurance Contracts Certain premiums and losses are ceded to other insurance companies or assumed from other insurance companies under various excess of loss and quota-share reinsurance contracts. The Company enters into ceded reinsurance contracts to limit its exposure to large losses, to limit exposure on new lines of insurance written by the Company, and to provide additional capacity for growth. Premiums, commissions, and losses and loss adjustment expenses on reinsured business are accounted for on a basis consistent with that used in accounting for the original policies issued and the terms of the reinsurance contracts. Reinsurance recoverables and prepaid reinsurance premiums are reported as assets. Other amounts payable to insurance companies and reinsurers or receivable from insurance companies and reinsurers are netted where the right of offset exists. The Company receives ceding commissions in connection with certain ceded reinsurance. The ceding commissions are recorded as a reduction of other operating expenses. Certain reinsurance contracts of the Casualty Reinsurance segment include provisions that adjust premiums or acquisition expenses based upon the experience under the contracts. Premiums written and earned, as well as related acquisition expenses are recorded based upon the projected experience under the contracts. The Company’s Specialty Admitted Insurance segment writes insurance under specialty admitted program and fronting arrangements. The program and fronting arrangements may contain contractual provisions that adjust acquisition expenses based upon loss experience under the contracts. The specialty admitted programs and fronting arrangements are significantly reinsured. These reinsurance contracts may also contain provisions that adjust premiums or acquisition expenses based upon the loss experience under the contracts.
Other Income	Other Income Other income is principally comprised of fee income earned on policies for which the Company has no exposure to underwriting risk. Net fee income of $3.2 million, $883,000, and $0 is included in other income for the years ended December 31, 2015, 2014, and 2013, respectively. Fees are earned on a pro rata basis over the service period of the underlying business. Policies are accounted for on an individual basis, with no aggregation by counterparty.
Income Taxes	Income Taxes Deferred tax assets and deferred tax liabilities are provided for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of assets and liabilities and their respective U.S. tax bases. Deferred tax assets and liabilities are measured using enacted U.S. corporate tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance only when management believes it is more likely than not that some, or all, of the deferred tax assets will not be realized.
Goodwill	Goodwill Goodwill is tested annually for impairment in the fourth quarter of each calendar year, or more frequently if events or changes in circumstances indicate that the carrying amount of the Company’s reporting units, including goodwill, may exceed their fair values. The Company first assesses qualitative factors in determining whether it is necessary to perform the quantitative goodwill impairment test. Only if management determines that it is more likely than not that the fair value of a reporting unit is less than the carrying value based on qualitative factors would it be required to perform the quantitative goodwill impairment test. If management concludes that quantitative goodwill impairment testing is required, the fair value of the reporting units is determined using a combination of a market approach and an income approach which projects the future cash flows produced by the reporting units and discounts those cash flows to their present value. The projection of future cash flows is necessarily dependent upon assumptions on the future levels of income as well as business trends, prospects, market, and economic conditions. The results of the two approaches are weighted to determine the fair value of each reporting unit. When the fair value is less than the carrying value of the net assets of the reporting unit, including goodwill, an impairment loss is charged to operations. To determine the amount of any goodwill impairment, the implied fair value of reporting unit goodwill is compared to the carrying amount of that goodwill. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination is determined. That is, the fair value of a reporting unit is assigned to all of the assets and liabilities of that unit (including any unrecognized intangible assets) as if the reporting unit had been acquired in a business combination. The excess of the fair value of a reporting unit over the amounts assigned to its assets and liabilities is the implied fair value of goodwill.
Intangible Assets, Net	Intangible Assets, Net Intangible assets are initially recognized and measured at fair value. Specifically identified intangible assets with indefinite lives include trademarks and state insurance licenses and authorities. Other specifically identified intangible assets with lives ranging from 7.0 to 27.5 years represent relationships with brokers. These intangible assets are amortized on a straight-line basis over their estimated useful lives. Intangible assets with indefinite useful lives are reviewed for impairment at least annually. In evaluating whether there has been impairment to the intangible asset, management determines the fair value of the intangible asset and compares the resulting fair value to the carrying value of the intangible asset. If the carrying value exceeds the fair value, the intangible asset is written down to fair value, and the impairment is reported through earnings. The Company evaluates intangible assets with definite lives for impairment when impairment indicators are noted.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets Long-lived assets with finite lives are tested for impairment whenever recognized events or changes in circumstances indicate the carrying value of these assets may not be recoverable. If indicators of impairment are present, fair value is calculated using estimated future cash flows expected to be generated from the use of those assets. An impairment loss is recognized only if the carrying amount of a long-lived asset or asset group is not recoverable and exceeds its fair value. The carrying amount of a long-lived asset or asset group is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset or asset group. That assessment is based on the carrying amount of the asset or asset group at the date it is tested for recoverability. An impairment loss is measured as the amount by which the carrying amount of a long-lived asset or asset group exceeds its fair value.
Property and Equipment, Net	Property and Equipment, Net Property and equipment, which is included in “other assets” in the accompanying consolidated balance sheets, is reported at cost less accumulated depreciation and is depreciated principally on a straight-line basis over the estimated useful lives of the depreciable assets, generally three to ten years. In the event the Company has been deemed the owner for accounting purposes of construction projects in lease arrangements, the estimated construction costs incurred to date are recorded as assets in property and equipment, net and included in “other assets” in the accompanying consolidated balance sheets. Upon occupancy of facilities under lease, the Company assesses whether arrangements qualify for sales recognition under the sale-leaseback accounting guidance. If the Company continues to be the deemed owner for accounting purposes, the cost of the building is depreciated over its estimated useful life.
Reserve for Losses and Loss Adjustment Expenses	Reserve for Losses and Loss Adjustment Expenses The reserve for losses and loss adjustment expenses represents the estimated ultimate cost of all reported and unreported losses and loss adjustment expenses incurred and unpaid at the balance sheet date. The Company does not discount this reserve. The process of estimating the reserves for losses and loss adjustment expenses requires a high degree of judgment and is subject to a number of variables. The reserve for losses and loss adjustment expenses is estimated using individual case-basis valuations and statistical analyses. Those estimates are subject to the effects of trends in loss severity and frequency. The Company utilizes various actuarially-accepted reserving methodologies in determining the continuum of expected outcomes for its reserves. These methodologies utilize various inputs, including management’s initial expected loss ratio (the ratio of losses and loss adjustment expenses incurred to net earned premiums), expected reporting patterns and payment patterns for losses and loss adjustment expenses (based on insurance industry data and the Company’s own experience), and the Company’s actual paid and reported losses and loss adjustment expenses. An internal actuary reviews these results and (after applying appropriate professional judgment and other actuarial techniques that are considered necessary) presents recommendations to the Company’s management. Management uses this information and the results of independent actuarial reviews performed in the third and fourth quarters of each year as well as its judgment to make decisions on the final recorded reserve for losses and loss adjustment expenses. Management believes that the use of judgment is necessary to arrive at a best estimate for the reserve for losses and loss adjustment expenses given the long-tailed nature of the business generally written by the Company and the limited operating experience of the Casualty Reinsurance segment and of the program and fronting business in the Specialty Admitted Insurance segment. Catastrophes of significant magnitude, including hurricanes and earthquakes, involve complex coverage issues. In estimating the reserve for losses and loss adjustment expenses for these catastrophes, management uses case reserve estimates based on information obtained from site inspections by the Company’s adjustors and the terms of coverage provided in the policies. Management estimates reserves for incurred but not reported claims for these catastrophes using judgment based on an assessment of the Company’s property insurance exposures where the catastrophes occur and the Company’s progress in settling claims. Although management believes that the reserve for losses and loss adjustment expenses is reasonable, it is possible that the Company’s actual incurred losses and loss adjustment expenses will not develop in a manner consistent with the assumptions inherent in the determination of these reserves. Specifically, the Company’s actual ultimate loss ratio could differ from management’s initial expected loss ratio and/or the Company’s actual reporting patterns for losses could differ from the expected reporting patterns. Accordingly, the ultimate settlement of losses and the related loss adjustment expenses may vary significantly from the estimates included in the Company’s consolidated financial statements. These estimates are reviewed continually by management and are adjusted as necessary as experience develops or new information becomes known; such adjustments are included in current operations.
Share Based Compensation	Share Based Compensation The Company expenses the fair value of share equity awards over the vesting period of the award on a straight-line basis. The Black-Scholes-Merton option pricing model is used to value the options granted (see Note 11). As the share based compensation expense is incurred, a corresponding increase to additional paid-in capital in shareholders’ equity is recognized. Share based compensation expense is reflected in “other operating expenses” in the accompanying consolidated statements of income and comprehensive income.
Financing Obligations	Financing Obligations In a lease arrangement where the Company made a minority investment in a partnership that was involved in the construction of a building, the Company was deemed the owner for accounting purposes during the construction period. The Company recorded an asset for the amount of the total project costs and the related financing obligation is included in “other liabilities” in the accompanying consolidated balance sheets. Once construction was completed, the Company determined the arrangement did not qualify for sale-lease back treatment. Accordingly, the Company continues to reduce the obligation over the lease term as payments are made and depreciates the asset over its useful life. The Company does not report rent expense for the portion of the rent payment determined to be related to the assets which are owned for accounting purposes. Rather, this portion of the rent payment under the lease is recognized as a reduction of the financing obligation and as interest expense.
Variable Interest Entities	Variable Interest Entities Entities that do not have sufficient equity at risk to allow the entity to finance its activities without additional financial support or in which the equity investors, as a group, do not have the characteristic of a controlling financial interest are referred to as variable interest entities (“VIE”). A VIE is consolidated by the variable interest holder that is determined to have the controlling financial interest (primary beneficiary) as a result of having both the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses or right to receive benefits from the VIE that could potentially be significant to the VIE. The Company determines whether it is the primary beneficiary of an entity subject to consolidation based on a qualitative assessment of the VIE’s capital structure, contractual terms, nature of the VIE’s operations and purpose, and the Company’s relative exposure to the related risks of the VIE on the date it becomes initially involved in the VIE. The Company reassesses its VIE determination with respect to an entity on an ongoing basis. The Company holds interests in VIEs through certain equity method investments included in “other invested assets” in the accompanying consolidated balance sheets. The Company has determined that it should not consolidate any of the VIEs as it is not the primary beneficiary in any of the relationships. Although the investments resulted in the Company holding variable interests in the entities, they did not empower the Company to direct the activities that most significantly impact the economic performance of the entities. The Company’s investments related to these VIEs totaled $26.0 million and $25.1 million as of December 31, 2015 and 2014, respectively, representing the Company’s maximum exposure to loss.
Earnings Per Share	Earnings Per Share Basic earnings per share excludes dilution and is computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share reflects the dilution that could occur if securities or other contracts to issue common shares or common share equivalents were exercised or converted into common shares as calculated using the treasury stock method. When inclusion of common share equivalents increases the earnings per share or reduces the loss per share, the effect on earnings is anti-dilutive, and the diluted net earnings or net loss per share is computed excluding these common share equivalents. The following represents a reconciliation of the numerator and denominator of the basic and diluted earnings per share computations contained in the consolidated financial statements. Income Weighted-Average Earnings (in thousands, except per share data) Year ended December 31, 2015 Basic $ 53,497 28,662,051 $ 1.87 Common share equivalents — 672,867 (0.05 ) Diluted $ 53,497 29,334,918 $ 1.82 Year ended December 31, 2014 Basic $ 44,685 28,540,350 $ 1.57 Common share equivalents — 269,951 (0.02 ) Diluted $ 44,685 28,810,301 $ 1.55 Year ended December 31, 2013 Basic $ 67,337 30,442,950 $ 2.21 Common share equivalents — 57,850 — Diluted $ 67,337 30,500,800 $ 2.21 Common share equivalents relate to our stock options and restricted stock units (“RSU’s”). For the year ended December 31, 2015, all common share equivalents are dilutive. For the years ended December 31, 2014, and 2013, common share equivalents of 1,358,992 shares and 25,000 shares, respectively, are excluded from the calculations of diluted earnings per share as their effects are anti-dilutive.
Prospective Accounting Standards	Prospective Accounting Standards In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis In May 2015, the FASB issued ASU 2015-09, Insurance (Topic 944), Disclosures about Short-Duration Contracts

Accounting Policies (Tables)

Accounting Policies (Tables)	12 Months Ended
Accounting Policies (Tables)	Dec. 31, 2015
Accounting Policies [Abstract]
Schedule of reconciliation of numerator and denominator of basic and diluted earnings per share	Income Weighted-Average Earnings (in thousands, except per share data) Year ended December 31, 2015 Basic $ 53,497 28,662,051 $ 1.87 Common share equivalents — 672,867 (0.05 ) Diluted $ 53,497 29,334,918 $ 1.82 Year ended December 31, 2014 Basic $ 44,685 28,540,350 $ 1.57 Common share equivalents — 269,951 (0.02 ) Diluted $ 44,685 28,810,301 $ 1.55 Year ended December 31, 2013 Basic $ 67,337 30,442,950 $ 2.21 Common share equivalents — 57,850 — Diluted $ 67,337 30,500,800 $ 2.21

Investments (Tables)

Investments (Tables)	12 Months Ended
Investments (Tables)	Dec. 31, 2015
Investments [Abstract]
Schedule of summary of available-for-sale investments	Cost or Gross Gross Fair (in thousands) December 31, 2015 Fixed maturity securities: State and municipal $ 95,864 $ 7,728 $ (135 ) $ 103,457 Residential mortgage-backed 137,308 1,718 (2,139 ) 136,887 Corporate 368,961 3,988 (9,781 ) 363,168 Commercial mortgage and asset-backed 130,231 890 (425 ) 130,696 Obligations of U.S. government corporations and agencies 89,734 698 (269 ) 90,163 U.S. Treasury securities and obligations guaranteed by the 73,322 165 (232 ) 73,255 Redeemable preferred stock 2,025 9 — 2,034 Total fixed maturity securities 897,445 15,196 (12,981 ) 899,660 Equity securities 69,830 5,512 (1,231 ) 74,111 Total investments available-for-sale $ 967,275 $ 20,708 $ (14,212 ) $ 973,771 December 31, 2014 Fixed maturity securities: State and municipal $ 90,715 $ 8,509 $ (178 ) $ 99,046 Residential mortgage-backed 113,997 2,661 (1,409 ) 115,249 Corporate 261,574 8,742 (2,434 ) 267,882 Commercial mortgage and asset-backed 111,056 2,429 (144 ) 113,341 Obligations of U.S. government corporations and agencies 100,376 1,431 (532 ) 101,275 U.S. Treasury securities and obligations guaranteed by the 58,173 289 (193 ) 58,269 Redeemable preferred stock 2,025 — (124 ) 1,901 Total fixed maturity securities 737,916 24,061 (5,014 ) 756,963 Equity securities 64,348 5,182 (1,625 ) 67,905 Total investments available-for-sale $ 802,264 $ 29,243 $ (6,639 ) $ 824,868
Schedule of summary of available-for-sale investments by contractual maturity	Amortized Fair (in thousands) One year or less $ 86,769 $ 87,096 After one year through five years 289,078 286,135 After five years through ten years 115,835 115,459 After ten years 136,199 141,353 Residential mortgage-backed 137,308 136,887 Commercial mortgage and asset-backed 130,231 130,696 Redeemable preferred stock 2,025 2,034 Total $ 897,445 $ 899,660
Schedule of gross unrealized losses and fair value for available-for-sale securities	Less Than 12 Months 12 Months or More Total Fair Gross Fair Gross Fair Gross (in thousands) December 31, 2015 Fixed maturity securities: State and municipal $ 9,492 $ (135 ) $ — $ — $ 9,492 $ (135 ) Residential mortgage-backed 39,895 (465 ) 40,656 (1,674 ) 80,551 (2,139 ) Corporate 177,149 (5,281 ) 6,433 (4,500 ) 183,582 (9,781 ) Commercial mortgage and 74,518 (339 ) 11,437 (86 ) 85,955 (425 ) Obligations of U.S. government corporations and agencies 43,907 (231 ) 4,012 (38 ) 47,919 (269 ) U.S. Treasury securities and obligations guaranteed by the U.S. government 49,452 (213 ) 2,186 (19 ) 51,638 (232 ) Total fixed maturity securities 394,413 (6,664 ) 64,724 (6,317 ) 459,137 (12,981 ) Equity securities 4,196 (172 ) 5,704 (1,059 ) 9,900 (1,231 ) Total investments available-for-sale $ 398,609 $ (6,836 ) $ 70,428 $ (7,376 ) $ 469,037 $ (14,212 ) December 31, 2014 Fixed maturity securities: State and municipal $ 3,197 $ (176 ) $ 247 $ (2 ) $ 3,444 $ (178 ) Residential mortgage-backed 2,072 (2 ) 47,594 (1,407 ) 49,666 (1,409 ) Corporate 25,885 (235 ) 22,353 (2,199 ) 48,238 (2,434 ) Commercial mortgage and 23,894 (118 ) 8,742 (26 ) 32,636 (144 ) Obligations of U.S. government corporations and agencies 202 — 48,029 (532 ) 48,231 (532 ) U.S. Treasury securities and obligations guaranteed by the U.S. government 13,055 (24 ) 19,383 (169 ) 32,438 (193 ) Redeemable preferred stock — – 1,901 (124 ) 1,901 (124 ) Total fixed maturity securities 68,305 (555 ) 148,249 (4,459 ) 216,554 (5,014 ) Equity securities 1,361 (205 ) 10,621 (1,420 ) 11,982 (1,625 ) Total investments available-for-sale $ 69,666 $ (760 ) $ 158,870 $ (5,879 ) $ 228,536 $ (6,639 )
Schedule of major categories of the company' s net investment income	Year Ended December 31, 2015 2014 2013 (in thousands) Fixed maturity securities $ 24,178 $ 22,861 $ 24,896 Bank loan participations 13,432 13,809 14,406 Equity securities 4,444 4,103 4,308 Other invested assets 5,947 5,690 5,123 Cash, cash equivalents, short-term investments, and other 672 116 120 Trading losses (9 ) (32 ) (226 ) Gross investment income 48,664 46,547 48,627 Investment expense (3,829 ) (3,542 ) (3,254 ) Net investment income $ 44,835 $ 43,005 $ 45,373
Schedule of summary of realized gains and losses	Year Ended December 31, 2015 2014 2013 (in thousands) Fixed maturity securities: Gross realized gains $ 2,197 $ 522 $ 14,347 Gross realized losses (826 ) (1,502 ) (2,823 ) 1,371 (980 ) 11,524 Equity securities: Gross realized gains 1,041 88 13 Gross realized losses (10 ) (842 ) (804 ) 1,031 (754 ) (791 ) Bank loan participations: Gross realized gains 1,269 2,178 2,549 Gross realized losses (8,258 ) (1,211 ) (675 ) (6,989 ) 967 1,874 Short-term investments and other: Gross realized gains 54 1,371 12 Gross realized losses (14 ) (1,940 ) — 40 (569 ) 12 Total $ (4,547 ) $ (1,336 ) $ 12,619
Schedule of available-for-sale gross unrealized gains or losses	Year Ended December 31, 2015 2014 2013 (in thousands) Change in gross unrealized gains (losses): Fixed maturity securities $ (16,832 ) $ 10,765 $ (41,677 ) Equity securities 724 3,879 (6,281 ) Total $ (16,108 ) $ 14,644 $ (47,958 )
Schedule of other invested assets	Investment Income Carrying Value Year Ended December 31, 2015 2014 2015 2014 2013 (in thousands) (in thousands) Category: Renewable energy LLCs (a) $26,001 $ 25,119 $ 3,936 $ 5,234 $ 4,310 Renewable energy bridge financing notes (b) 6,500 — 3,136 — — Limited partnerships (c) 17,503 4,003 (1,468 ) (128 ) 131 Bank holding companies (d) 4,500 4,500 343 400 275 Other (e) — — — 184 407 Total other invested assets $54,504 $ 33,622 $ 5,947 $ 5,690 $ 5,123 (a) The Company’s Corporate and Other segment owns equity interests ranging from 2.7% to 33.3% in various LLCs whose principal objective is capital appreciation and income generation from owning and operating renewable energy production facilities (wind and solar). The LLCs are managed by an affiliate of the Company’s largest shareholder and the Company’s Chairman and Chief Executive Officer has invested in certain of these LLCs. The equity method is used to account for the Company’s LLC investments. Income for the LLCs primarily reflects adjustments to the carrying values of investments in renewable energy projects to their determined fair values. The fair value adjustments are included in revenues for the LLCs. Expenses for the LLCs are not significant and are comprised of administrative and interest expenses. The Company received cash distributions from these investments totaling $3.1 million and $3.9 million for the years ended December 31, 2015 and 2014, respectively. In March 2014, the Company sold its interest in one of the LLCs for $5.9 million and a $1.9 million realized loss was recognized on the sale. Prior to the sale, investment income of $3.6 million was recognized on this investment in the three months ended March 31, 2014. (b) The Company owns investments in bridge loans for renewable energy projects. The notes, all with affiliates of the Company’s largest shareholder, generally mature in less than one year and carry primarily variable rates of interest ranging from 7.3% to 15.0%. Original discounts and commitment fees received are recognized over the terms of the notes under the effective interest method. During the year ended December 31, 2015, the Company invested a total of $36.3 million in these notes and received maturities and repayments totaling $30.8 million. (c) The Company owns investments in limited partnerships that invest in concentrated portfolios of high yield bonds of companies undergoing financial stress, publicly-traded small cap equities, loans of middle market private equity sponsored companies, and equity tranches of collateralized loan obligations (CLOs). Income from the partnerships is recognized under the equity method of accounting. The Company’s Corporate and Other segment held investments in limited partnerships of $2.2 million and $4.0 million at December 31, 2015 and 2014, and recognized investment losses of $510,000 and $128,000 for the years ended December 31, 2015 and 2014, respectively, and investment income of $131,000 for the year ended December 31, 2013. The Chairman and Chief Executive Officer of the Company is an investor in one limited partnership held by the Corporate & Other segment. The Company’s Excess and Surplus Lines segment holds investments in limited partnerships of $15.3 million at December 31, 2015. Investment losses of $958,000 were recognized on the investments for the year ended December 31, 2015. At December 31, 2015, the Company’s Excess and Surplus Lines segment has an outstanding commitment to invest another $3.6 million in a limited partnership that invests in loans of middle market private equity sponsored companies. (d) Net investment income for the years ended December 31, 2014 and 2013 includes $57,000 and $143,000, respectively, related to a previously held equity investment in a bank holding company (“Predecessor Bank Holding Company”). On July 4, 2014, the Predecessor Bank Holding Company merged with and into another bank holding company (the “Surviving Bank Holding Company”). In exchange for its shares of the Predecessor Bank Holding Company, the Company received $354,000 in cash and $6.4 million of common shares in the Surviving Bank Holding Company, and the realized investment gain on the exchange was $1.4 million. The common shares of the Surviving Bank Holding Company are carried as available for-sale equity securities as they are publicly-traded and the Company does not have significant influence over the Surviving Bank Holding Company. The Company also holds $4.5 million of subordinated notes issued by a company that was substantially owned by the Predecessor Bank Holding Company (the “Bank Affiliate”). The $4.5 million of subordinated notes issued by the Bank Affiliate became debt of the Surviving Bank Holding Company. Interest on the notes, which mature on August 12, 2023, is fixed at 7.6% per annum. Interest income on the notes was $343,000 in both years ended December 31, 2015 and 2014. The Chairman and Chief Executive Officer of the Company previously served as Chairman of the Predecessor Bank Holding Company and the Bank Affiliate. Effective July 4, 2014, the Company’s Chairman and Chief Executive Officer became the Lead Independent Director of the Surviving Bank Holding Company. The Chairman and Chief Executive Officer of the Company is a former investor in the Predecessor Bank Holding Company and is now an investor in the Surviving Bank Holding Company. Additionally, one of the Company’s directors is a former investor in the Bank Holding Company and is now an investor in the Surviving Bank Holding Company. In addition, this director was a lender to the Bank Affiliate and is now a lender to the Surviving Bank Holding Company. The Company’s Chief Financial Officer is a former investor in the Predecessor Bank Holding Company and the Surviving Bank Holding Company. (e) For the years ended December 31, 2014 and 2013, income of $184,000 and $415,000, respectively, was recognized on a $3.3 million note agreement with two property development companies. The note, which carried a fixed interest rate of 11.10%, was repaid in full on July 3, 2014. The Bank Holding Company also entered into note agreements with the same property development companies.

Deferred Policy Acquisition C41

Deferred Policy Acquisition Costs (Tables)	12 Months Ended
Deferred Policy Acquisition Costs (Tables)	Dec. 31, 2015
Deferred Policy Acquisition Costs Disclosures [Abstract]
Schedule of deferred policy acquisition costs	Year Ended December 31, 2015 2014 2013 (in thousands) Balance at beginning of period $ 60,202 $ 46,204 $ 49,336 Policy acquisition costs deferred: Commissions 90,342 93,646 63,958 Underwriting and other issue expenses 7,960 5,535 4,558 98,302 99,181 68,516 Amortization of policy acquisition costs (97,750 ) (85,183 ) (71,648 ) Net change 552 13,998 (3,132 ) Balance at end of period $ 60,754 $ 60,202 $ 46,204

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
Goodwill and Intangible Assets (Tables)	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of gross carrying amounts and accumulated amortization	Weighted- December 31, 2015 2014 Gross Accumulated Gross Accumulated (in thousands) Trademarks Indefinite $ 22,200 $ — $ 22,200 $ — Insurance licenses and authorities Indefinite 9,164 — 9,164 — Identifiable intangibles not subject to amortization 31,364 — 31,364 — Broker relationships 24.6 11,611 3,447 11,611 2,850 Identifiable intangible assets subject to amortization 11,611 3,447 11,611 2,850 $ 42,975 $ 3,447 $ 42,975 $ 2,850
Schedule of future estimated amortization	2016 $ 597 2017 597 2018 597 2019 597 2020 538 Thereafter 5,237 Total $ 8,163
Schedule of net carrying values of intangible assets by segment	December 31, Amortization Impairment December 31, (in thousands) Excess and Surplus Lines Trademarks $ 19,700 $ — $ — $ 19,700 Insurance licenses and authorities 4,900 — — 4,900 Broker relationships 7,413 (362 ) — 7,051 32,013 (362 ) — 31,651 Specialty Admitted Insurance Trademarks 2,500 — — 2,500 Insurance licenses and authorities 4,265 — — 4,265 Broker relationships 1,347 (235 ) — 1,112 8,112 (235 ) — 7,877 Total identifiable intangible assets $ 40,125 $ (597 ) $ — $ 39,528 December 31, Amortization Impairment December 31, (in thousands) Excess and Surplus Lines Trademarks $ 19,700 $ — $ — $ 19,700 Insurance licenses and authorities 4,900 — — 4,900 Broker relationships 7,775 (362 ) — 7,413 32,375 (362 ) — 32,013 Specialty Admitted Insurance Trademarks 2,500 — — 2,500 Insurance licenses and authorities 4,265 — — 4,265 Broker relationships 1,582 (235 ) — 1,347 8,347 (235 ) — 8,112 Total identifiable intangible assets $ 40,722 $ (597 ) $ — $ 40,125

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
Property and Equipment, Net (Tables)	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Schedule of property and equipment, net	December 31, 2015 2014 (in thousands) Building, leased for which the Company has been deemed the owner for accounting purposes (Note 22) $ 29,940 $ 29,917 Electronic data processing hardware and software 3,481 3,353 Furniture and equipment 2,183 1,893 Property and equipment, cost basis 35,604 35,163 Accumulated depreciation (11,615 ) (10,186 ) Property and equipment, net $ 23,989 $ 24,977

Reserve for Losses and Loss A44

Reserve for Losses and Loss Adjustment Expenses (Tables)	12 Months Ended
Reserve for Losses and Loss Adjustment Expenses (Tables)	Dec. 31, 2015
Loss Contingency [Abstract]
Schedule of reconciliation of beginning and ending reserve balances for losses and loss adjustment expenses	Year Ended December 31, 2015 2014 2013 (in thousands) Reserve for losses and loss adjustment expenses net of reinsurance recoverables at beginning of period $ 589,042 $ 526,985 $ 533,909 Add: Incurred losses and loss adjustment expenses net of reinsurance: Current year 295,334 264,786 221,938 Prior years (16,318 ) (27,418 ) (37,452 ) Total incurred losses and loss and adjustment expenses 279,016 237,368 184,486 Deduct: Loss and loss adjustment expense payments net of reinsurance: Current year 31,957 25,942 19,485 Prior years 182,567 149,369 171,925 Total loss and loss adjustment expense payments 214,524 175,311 191,410 Reserve for losses and loss adjustment expenses net of reinsurance recoverables at end of period 653,534 589,042 526,985 Add: Reinsurance recoverables on unpaid losses and loss adjustment expenses at end of period 131,788 127,254 119,467 Reserve for losses and loss adjustment expenses gross of reinsurance recoverables on unpaid losses and loss adjustment expenses at end of period $ 785,322 $ 716,296 $ 646,452

Reinsurance (Tables)

Reinsurance (Tables)	12 Months Ended
Reinsurance (Tables)	Dec. 31, 2015
Reinsurance Disclosures [Abstract]
Schedule of Premiums written, premiums earned, and losses and loss adjustment expenses	Year Ended December 31, 2015 2014 2013 (in thousands) Written premiums: Direct $ 395,816 $ 310,161 $ 211,607 Assumed 176,378 208,606 156,911 Ceded (101,162 ) (68,684 ) (43,352 ) Net $ 471,032 $ 450,083 $ 325,166 Earned premiums: Direct $ 367,340 $ 281,676 $ 196,351 Assumed 181,326 178,045 192,690 Ceded (87,461 ) (63,509 ) (60,963 ) Net $ 461,205 $ 396,212 $ 328,078 Losses and loss adjustment expenses: Direct $ 201,755 $ 144,178 $ 73,948 Assumed 127,276 118,515 141,340 Ceded (50,015 ) (25,325 ) (30,802 ) Net $ 279,016 $ 237,368 $ 184,486

Junior Subordinated Debt (Table

Junior Subordinated Debt (Tables)	12 Months Ended
Junior Subordinated Debt (Tables)	Dec. 31, 2015
Subordinated Borrowings [Abstract]
Schedule of Junior Subordinated Debt	James River James River James River James River Franklin ($ in thousands) Issue date May 26, December 15, June 15, December 11, January 10, Principal amount of Trust $ 7,000 $ 15,000 $ 20,000 $ 54,000 $ 30,000 Principal amount of Junior $ 7,217 $ 15,464 $ 20,619 $ 55,670 $ 30,928 Carrying amount of Junior $ 7,217 $ 15,464 $ 20,619 $ 44,827 $ 15,928 Maturity date of Junior May 24, December 15, June 15, December 15, March 15, Trust common stock $ 217 $ 464 $ 619 $ 1,670 $ 928 Interest rate, per annum Three-Month Three-Month Three-Month Three-Month Three-Month Redeemable at 100% of principal May 24, December 15, June 15, March 15, June 15,

Capital Stock (Tables)

Capital Stock (Tables)	12 Months Ended
Capital Stock (Tables)	Dec. 31, 2015
Stockholders' Equity Note [Abstract]
Schedule of cash dividends	Date of Dividend per Payable to Shareholders Payment Date Total Amount February 17, 2015 $ 0.16 March 16, 2015 March 31, 2015 $4.6 million May 5, 2015 $ 0.16 June 15, 2015 June 30, 2015 $4.6 million August 5, 2015 $ 0.16 September 14, 2015 September 30, 2015 $4.7 million November 3, 2015 $ 0.16 December 14, 2015 December 28, 2015 $4.7 million November 3, 2015 $ 1.00 December 14, 2015 December 28, 2015 $29.2 million Total $ 1.64 $47.8 million

Equity Awards (Tables)

Equity Awards (Tables)	12 Months Ended
Equity Awards (Tables)	Dec. 31, 2015
Stockholders' Equity Note [Abstract]
Schedule of summary of option activity	Year Ended December 31, 2015 2014 2013 Shares Weighted- Shares Weighted- Shares Weighted- Outstanding: Beginning of year 3,104,768 $ 17.27 2,166,250 $ 15.51 2,287,500 $ 15.50 Granted 10,627 $ 24.32 993,518 $ 21.00 50,000 $ 16.83 Exercised (1,047,500 ) $ 15.66 — — — — Forfeited (9,810 ) $ 21.00 — — — — Lapsed — — (55,000 ) $ 15.65 (171,250 ) $ 15.65 End of year 2,058,085 $ 18.11 3,104,768 $ 17.27 2,166,250 $ 15.51 Exercisable, end of year 1,217,903 $ 16.85 1,751,249 $ 15.51 1,570,100 $ 15.54
Schedule of value of the options granted was estimated at the date of grant using the Black-Scholes-Merton	Year Ended December 31, 2015 2014 2013 Range of risk-free interest rates 1.54 % 1.53 % 0.77% – 1.50% Dividend yield 4.00 % 2.00 % 0.00 % Expected share price volatility 25.00 % 25.00 % 26.00 % Expected life 5.0 years 5.0 years 5.0 years
Schedule of summary of RSU activity	Year Ended December 31, 2015 2014 Shares Weighted- Shares Weighted- Unvested, beginning of year 340,474 $ 21.00 — — Granted — — 340,474 $ 21.00 Vested (105,552 ) $ 21.00 — — Unvested, end of year 234,922 $ 21.00 340,474 $ 21.00
Schedule of summary of amount of expense and related tax benefit	December 31, 2015 2014 2013 (in thousands) Share based compensation expense $ 3,735 $ 589 $ 647 U.S. tax benefit on share based compensation expense $ 1,025 $ 135 $ 139

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
Income Taxes (Tables)	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of weighted-average tax rate as well as a reconciliation to total tax expense	Year Ended December 31, 2015 2014 2013 (in thousands) Expected Federal income tax expense $ 5,317 $ 3,166 $ 10,906 Tax-exempt investment income (858 ) (751 ) (769 ) Dividends received deduction (867 ) (740 ) (583 ) Tax credits on renewable energy investments — (2,033 ) — Other 379 897 187 Federal income tax expense $ 3,971 $ 539 $ 9,741 U.S. state income tax (benefit) expense (192 ) 400 — U.S. dividend withholding tax 2,500 — — Total income tax expense $ 6,279 $ 939 $ 9,741
Schedule of deferred tax asset at the current prevailing corporate income tax rate	December 31, 2015 2014 (in thousands) Deferred tax assets: Accrued compensation expenses $ 5,318 $ 5,673 Reserve for losses and loss adjustment expenses 4,861 5,112 Unearned premiums 2,474 2,130 Share based compensation 1,948 2,856 Allowance for doubtful accounts 972 695 Deferred policy acquisition costs 593 123 Property and equipment 2,221 1,771 AMT credit 430 — Invested asset impairments 891 824 Other 2,209 1,851 Total deferred tax assets 21,917 21,035 Deferred tax liabilities: Intangible assets 12,573 12,592 Net unrealized gains 3,310 4,248 Deferred gain on extinguishment of debt 318 424 Equity method investments 4,784 2,897 Other 464 423 Total deferred tax liabilities 21,449 20,584 Net deferred tax assets $ 468 $ 451

Other Operating Expenses and 50

Other Operating Expenses and Other Expenses (Tables)	12 Months Ended
Other Operating Expenses and Other Expenses (Tables)	Dec. 31, 2015
Other Operating Expenses And Other Expenses [Abstract]
Schedule of Other operating expenses	Year Ended December 31, 2015 2014 2013 (in thousands) Amortization of policy acquisition costs $ 97,750 $ 85,183 $ 71,648 Other underwriting expenses of the insurance segments 41,499 38,748 34,849 Other operating expenses of the Corporate and Other segment 18,554 9,124 8,307 Total $ 157,803 $ 133,055 $ 114,804

Commitments and Contingent Li51

Commitments and Contingent Liabilities (Tables)	12 Months Ended
Commitments and Contingent Liabilities (Tables)	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Schedule of future minimum payments under non-cancelable operating leases	2016 $ 3,355 2017 3,395 2018 3,308 2019 3,219 2020 2,992 Thereafter 13,276 $ 29,545

Other Comprehensive Income (L52

Other Comprehensive Income (Loss) (Tables)	12 Months Ended
Other Comprehensive Income (Loss) (Tables)	Dec. 31, 2015
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of components of comprehensive income	Year Ended December 31, 2015 2014 2013 (in thousands) Unrealized (losses) gains arising during the period, before U.S. income taxes $ (13,707 ) $ 12,910 $ (37,225 ) U.S. income taxes 517 (2,820 ) 5,854 Unrealized (losses) gains arising during the period, net of U.S. income taxes (13,190 ) 10,090 (31,371 ) Less reclassification adjustment: Net realized investment gains (losses) 2,402 (1,734 ) 10,733 U.S. income taxes (422 ) 669 (2,859 ) Reclassification adjustment for investment gains (losses) realized in net income 1,980 (1,065 ) 7,874 Other comprehensive (loss) income $ (15,170 ) $ 11,155 $ (39,245 )

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
Segment Information (Tables)	Dec. 31, 2015
Segment Reporting [Abstract]
Schedule of summary of company's segment results	Excess and Specialty Casualty Corporate Total (in thousands) As of and for the Year Ended Gross written premiums $ 308,717 $ 90,978 $ 172,499 $ — $ 572,194 Net earned premiums 240,878 42,206 178,121 — 461,205 Segment revenues 255,529 44,791 197,586 7,015 504,921 Net investment income 13,427 2,316 22,706 6,386 44,835 Interest expense — — — 6,999 6,999 Underwriting profit (loss) of operating segments 47,607 1,074 (2,558 ) — 46,123 Segment goodwill 181,831 — — — 181,831 Segment assets 671,143 173,094 1,108,278 102,982 2,055,497 As of and for the Year Ended Gross written premiums $ 252,707 $ 59,380 $ 206,680 $ — $ 518,767 Net earned premiums 195,786 28,449 171,977 — 396,212 Segment revenues 208,778 30,896 193,909 5,420 439,003 Net investment income 14,083 2,320 20,745 5,857 43,005 Interest expense — — — 6,347 6,347 Underwriting profit of operating 35,096 33 667 — 35,796 Segment goodwill 181,831 — — — 181,831 Segment assets 684,838 124,503 1,035,084 114,867 1,959,292 As of and for the Year Ended Gross written premiums $ 192,394 $ 20,594 $ 155,530 $ — $ 368,518 Net earned premiums 141,826 17,908 168,344 — 328,078 Segment revenues 165,431 21,582 193,752 5,527 386,292 Net investment income 15,489 2,601 21,907 5,376 45,373 Interest expense — — — 6,777 6,777 Underwriting profit (loss) of operating segments 43,523 (3,868 ) (2,560 ) — 37,095 Segment goodwill 181,831 — — — 181,831 Segment assets 651,249 92,700 967,982 94,862 1,806,793
Schedule of underwriting profit (loss) of operating segments by individual segment and reconciliation to consolidated income before taxes	Year Ended December 31, 2015 2014 2013 (in thousands) Underwriting profit (loss) of the operating segments: Excess and Surplus Lines $ 47,607 $ 35,096 $ 43,523 Specialty Admitted Insurance 1,074 33 (3,868 ) Casualty Reinsurance (2,558 ) 667 (2,560 ) Total underwriting profit (loss) of operating segments 46,123 35,796 37,095 Other operating expenses of the Corporate and Other segment (18,554 ) (9,124 ) (8,307 ) Underwriting profit (loss) 27,569 26,672 28,788 Net investment income 44,835 43,005 45,373 Net realized investment (losses) gains (4,547 ) (1,336 ) 12,619 Other income 245 239 222 Other expenses (730 ) (16,012 ) (677 ) Interest expense (6,999 ) (6,347 ) (6,777 ) Amortization of intangible assets (597 ) (597 ) (2,470 ) Income before income taxes $ 59,776 $ 45,624 $ 77,078
Schedule of gross written premiums by segment and underwriting division	Year Ended December 31, 2015 2014 2013 (in thousands) Manufacturers and Contractors $ 78,315 $ 72,063 $ 58,509 Excess Casualty 32,458 31,688 32,489 Allied Health 13,513 9,707 9,148 General Casualty 104,742 60,458 22,636 Professional Liability 10,046 10,784 10,695 Energy 30,623 28,980 21,400 Excess Property 12,498 11,795 10,988 Medical Professionals 3,585 3,922 4,492 Life Sciences 8,917 10,155 9,978 Environmental 4,437 3,431 2,557 Sports and Entertainment 2,667 2,753 3,189 Small Business 6,916 6,971 6,313 Total Excess and Surplus Lines segment 308,717 252,707 192,394 Specialty Admitted Insurance segment 90,978 59,380 20,594 Casualty Reinsurance segment 172,499 206,680 155,530 Total $ 572,194 $ 518,767 $ 368,518

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
Fair Value Measurements (Tables)	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Schedule of assets measured at fair value on a recurring basis	Fair Value Measurements Using Quoted Prices Significant Significant Total (in thousands) Available-for-sale securities Fixed maturity securities: State and municipal $ — $ 103,457 $ — $ 103,457 Residential mortgage-backed — 136,887 — 136,887 Corporate — 363,168 — 363,168 Commercial mortgage and asset-backed — 125,696 5,000 130,696 Obligations of U.S. government corporations and agencies — 90,163 — 90,163 U.S. Treasury securities and obligations guaranteed by 72,542 713 — 73,255 Redeemable preferred stock — 2,034 — 2,034 Total fixed maturity securities 72,542 822,118 5,000 899,660 Equity securities: Preferred stock — 54,092 — 54,092 Common stock 19,285 734 — 20,019 Total equity securities 19,285 54,826 — 74,111 Total available-for-sale securities $ 91,827 $ 876,944 $ 5,000 $ 973,771 Trading securities: Fixed maturity securities $ 1,244 $ 3,802 $ — $ 5,046 Short-term investments $ 2,926 $ 16,344 $ — $ 19,270 Fair Value Measurements Using Quoted Prices Significant Significant Total (in thousands) Available-for-sale securities Fixed maturity securities: State and municipal $ — $ 99,046 $ — $ 99,046 Residential mortgage-backed — 115,249 — 115,249 Corporate — 267,882 — 267,882 Commercial mortgage and asset-backed — 113,341 — 113,341 Obligations of U.S. government corporations and agencies — 101,275 — 101,275 U.S. Treasury securities and obligations guaranteed by 56,891 1,378 — 58,269 Redeemable preferred stock — 1,901 — 1,901 Total fixed maturity securities 56,891 700,072 — 756,963 Equity securities: Preferred stock — 49,601 — 49,601 Common stock 17,570 734 — 18,304 Total equity securities 17,570 50,335 — 67,905 Total available-for-sale securities $ 74,461 $ 750,407 $ — $ 824,868 Trading securities: Fixed maturity securities $ — $ 7,388 $ — $ 7,388 Short-term investments $ 58,507 $ 73,349 $ — $ 131,856
Schedule of fair value on a recurring basis using significant unobservable inputs (Level 3)	Year Ended December 31, 2015 2014 2013 (in thousands) Beginning balance $ — $ — $ — Transfers out of Level 3 — — — Transfers in to Level 3 — — — Purchases 5,000 — — Sales — — — Amortization of discount — — — Total gains or losses (realized/unrealized): — — — Included in earnings — — — Included in other comprehensive income — — — Ending balance $ 5,000 $ — $ —
Schedule of assets measured at fair value on a nonrecurring basis	Fair Value Measurements Using Quoted Prices Significant Significant Total (in thousands) December 31, 2015 Bank loan participations held-for-investment $ — $ — $ 2,342 $ 2,342
Schedule of carrying value and fair Value	December 31, 2015 2014 Carrying Fair Carrying Fair (in thousands) Assets Available-for-sale: Fixed maturity securities $ 899,660 $ 899,660 $ 756,963 $ 756,963 Equity securities 74,111 74,111 67,905 67,905 Trading: Fixed maturity securities 5,046 5,046 7,388 7,388 Bank loan participations held-for-investment 191,700 180,086 239,511 231,251 Cash and cash equivalents 106,406 106,406 73,383 73,383 Short-term investments 19,270 19,270 131,856 131,856 Other invested assets – notes receivable 11,000 12,548 4,500 6,410 Liabilities Senior debt 88,300 79,539 88,300 79,850 Junior subordinated debt 104,055 84,594 104,055 89,100

Statutory Matters (Tables)

Statutory Matters (Tables)	12 Months Ended
Statutory Matters (Tables)	Dec. 31, 2015
Statutory Matters [Abstract]
Schedule of statutory accounting	2015 2014 2013 (in thousands) Statutory net income $ 14,747 $ 14,872 $ 24,857 Statutory capital and surplus 176,884 207,813 208,369 Minimum required statutory capital and surplus 25,000 21,250 21,250

Unaudited Selected Quarterly 56

Unaudited Selected Quarterly Financial Data (Tables)	12 Months Ended
Unaudited Selected Quarterly Financial Data (Tables)	Dec. 31, 2015
Quarterly Financial Data [Abstract]
Schedule of unaudited quarterly results of operations	2015 Quarter 2015 First Second Third Fourth Year (in thousands, except per share data) Gross written premiums $ 131,258 $ 184,011 $ 148,236 $ 108,689 $ 572,194 Total revenues 126,467 120,227 133,123 125,104 504,921 Net income 9,377 12,489 18,961 12,670 53,497 Comprehensive income 13,326 (2,516 ) 20,547 6,970 38,327 Earnings per share: Basic $ 0.33 $ 0.44 $ 0.66 $ 0.44 $ 1.87 Diluted $ 0.32 $ 0.43 $ 0.64 $ 0.43 $ 1.82 2014 Quarter 2014 First Second Third Fourth Year (in thousands, except per share data) Gross written premiums $ 147,241 $ 96,960 $ 171,415 $ 103,151 $ 518,767 Total revenues 99,695 106,796 111,817 120,695 439,003 Net income 9,138 9,513 17,168 8,866 44,685 Comprehensive income 14,911 15,244 12,748 12,937 55,840 Earnings (loss) per share: Basic $ 0.32 $ 0.33 $ 0.60 $ 0.31 $ 1.57 Diluted $ 0.32 $ 0.33 $ 0.60 $ 0.31 $ 1.55

Accounting Policies (Details)

Accounting Policies (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Earnings Per Share [Abstract]
Net income to shareholders	$ 12,670	$ 18,961	$ 12,489	$ 9,377	$ 8,866	$ 17,168	$ 9,513	$ 9,138	$ 53,497	$ 44,685	$ 67,337
Weighted average common shares outstanding:
Basic (in shares)									28,662,051	28,540,350	30,442,950
Common share equivalents (in shares)									672,867	269,951	57,850
Diluted (in shares)									29,334,918	28,810,301	30,500,800
Earnings per share:
Basic (in dollars per share)	$ 0.44	$ 0.66	$ 0.44	$ 0.33	$ 0.31	$ 0.6	$ 0.33	$ 0.32	$ 1.87	$ 1.57	$ 2.21
Common share equivalents (in dollars per share)									(0.05)	(0.02)
Diluted (in dollars per share)	$ 0.43	$ 0.64	$ 0.43	$ 0.32	$ 0.31	$ 0.6	$ 0.33	$ 0.32	$ 1.82	$ 1.55	$ 2.21

Accounting Policies (Detail Tex

Accounting Policies (Detail Textuals)	12 Months Ended
Accounting Policies (Detail Textuals)	Dec. 31, 2015USD ($)CompanyLoans	Dec. 31, 2014USD ($)Loansshares	Dec. 31, 2013USD ($)shares
Accounting Policies [Line Items]
Allowance for doubtful accounts	$ 2,800,000	$ 2,000,000
Bad debt expense	1,100,000	812,000	$ 459,000
Allowance for doubtful accounts receivables written off	268,000	528,000	978,000
Net Fee Income	$ 3,200,000	883,000	$ 0
Intangible assets, usefull life	24 years 7 months 6 days
Intangible assets amortization method	straight-line basis
Property and equipment, depreciation method	straight-line basis
Investment in variable interest entities	$ 26,000,000	$ 25,100,000
Number of participation bank loans on nonaccrual status \| Loans	0	0
Common stock
Accounting Policies [Line Items]
Number of securities excluded from the calculations of diluted earnings per share \| shares		1,358,992	25,000
Minimum
Accounting Policies [Line Items]
Intangible assets, usefull life	7 years
Property and equipment, estimated useful lives	3 years
Short term investments maturities	3 months
Maximum
Accounting Policies [Line Items]
Intangible assets, usefull life	27 years 6 months
Property and equipment, estimated useful lives	10 years
Short term investments maturities		1 year
Receivables greater than 90 days past due
Accounting Policies [Line Items]
Premiums receivable, past due	$ 2,600,000	$ 1,800,000
United States
Accounting Policies [Line Items]
Number of insurance companies \| Company	6

Investments (Details)

Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	$ 967,275	$ 802,264
Gross Unrealized Gains	20,708	29,243
Gross Unrealized Losses	(14,212)	(6,639)
Fair value	973,771	824,868
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	897,445	737,916
Gross Unrealized Gains	15,196	24,061
Gross Unrealized Losses	(12,981)	(5,014)
Fair value	899,660	756,963
State and municipal
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	95,864	90,715
Gross Unrealized Gains	7,728	8,509
Gross Unrealized Losses	(135)	(178)
Fair value	103,457	99,046
Residential mortgage-backed
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	137,308	113,997
Gross Unrealized Gains	1,718	2,661
Gross Unrealized Losses	(2,139)	(1,409)
Fair value	136,887	115,249
Corporate
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	368,961	261,574
Gross Unrealized Gains	3,988	8,742
Gross Unrealized Losses	(9,781)	(2,434)
Fair value	363,168	267,882
Commercial mortgage and asset-backed
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	130,231	111,056
Gross Unrealized Gains	890	2,429
Gross Unrealized Losses	(425)	(144)
Fair value	130,696	113,341
Obligations of U.S. government corporations and agencies
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	89,734	100,376
Gross Unrealized Gains	698	1,431
Gross Unrealized Losses	(269)	(532)
Fair value	90,163	101,275
U.S. Treasury securities and obligations guaranteed by the U.S. government
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	73,322	58,173
Gross Unrealized Gains	165	289
Gross Unrealized Losses	(232)	(193)
Fair value	73,255	58,269
Redeemable preferred stock
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	2,025	$ 2,025
Gross Unrealized Gains	$ 9
Gross Unrealized Losses		$ (124)
Fair value	$ 2,034	1,901
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	69,830	64,348
Gross Unrealized Gains	5,512	5,182
Gross Unrealized Losses	(1,231)	(1,625)
Fair value	$ 74,111	$ 67,905

Investments (Details 1)

Investments (Details 1) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Cost or Amortized Cost
One year or less	$ 86,769
After one year through five years	289,078
After five years through ten years	115,835
After ten years	136,199
Residential mortgage-backed	137,308
Commercial mortgage and asset-backed	130,231
Redeemable preferred stock	2,025
Total, Cost or Amortized Cost	897,445	$ 737,916
Fair Value
One year or less	87,096
After one year through five years	286,135
After five years through ten years	115,459
After ten years	141,353
Residential mortgage-backed	136,887
Commercial mortgage and asset-backed	130,696
Redeemable preferred stock	2,034
Total, Fair Value	$ 899,660	$ 756,963

Investments (Details 2)

Investments (Details 2) - USD ($) $ in Thousands	12 Months Ended
Investments (Details 2) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Less Than 12 Months Fair Value	$ 398,609	$ 69,666
Less Than 12 Months Gross Unrealized Losses	(6,836)	(760)
12 Months or More Fair Value	70,428	158,870
12 Months or More Gross Unrealized Losses	(7,376)	(5,879)
Total Fair Value	469,037	228,536
Total Gross Unrealized Losses	(14,212)	(6,639)
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Less Than 12 Months Fair Value	394,413	68,305
Less Than 12 Months Gross Unrealized Losses	(6,664)	(555)
12 Months or More Fair Value	64,724	148,249
12 Months or More Gross Unrealized Losses	(6,317)	(4,459)
Total Fair Value	459,137	216,554
Total Gross Unrealized Losses	(12,981)	(5,014)
State and municipal
Schedule of Available-for-sale Securities [Line Items]
Less Than 12 Months Fair Value	9,492	3,197
Less Than 12 Months Gross Unrealized Losses	$ (135)	(176)
12 Months or More Fair Value		247
12 Months or More Gross Unrealized Losses		(2)
Total Fair Value	$ 9,492	3,444
Total Gross Unrealized Losses	(135)	(178)
Residential mortgage-backed
Schedule of Available-for-sale Securities [Line Items]
Less Than 12 Months Fair Value	39,895	2,072
Less Than 12 Months Gross Unrealized Losses	(465)	(2)
12 Months or More Fair Value	40,656	47,594
12 Months or More Gross Unrealized Losses	(1,674)	(1,407)
Total Fair Value	80,551	49,666
Total Gross Unrealized Losses	(2,139)	(1,409)
Corporate
Schedule of Available-for-sale Securities [Line Items]
Less Than 12 Months Fair Value	177,149	25,885
Less Than 12 Months Gross Unrealized Losses	(5,281)	(235)
12 Months or More Fair Value	6,433	22,353
12 Months or More Gross Unrealized Losses	(4,500)	(2,199)
Total Fair Value	183,582	48,238
Total Gross Unrealized Losses	(9,781)	(2,434)
Commercial mortgage and asset-backed
Schedule of Available-for-sale Securities [Line Items]
Less Than 12 Months Fair Value	74,518	23,894
Less Than 12 Months Gross Unrealized Losses	(339)	(118)
12 Months or More Fair Value	11,437	8,742
12 Months or More Gross Unrealized Losses	(86)	(26)
Total Fair Value	85,955	32,636
Total Gross Unrealized Losses	(425)	(144)
Obligations of U.S. government corporations and agencies
Schedule of Available-for-sale Securities [Line Items]
Less Than 12 Months Fair Value	43,907	$ 202
Less Than 12 Months Gross Unrealized Losses	(231)
12 Months or More Fair Value	4,012	$ 48,029
12 Months or More Gross Unrealized Losses	(38)	(532)
Total Fair Value	47,919	48,231
Total Gross Unrealized Losses	(269)	(532)
U.S. Treasury securities and obligations guaranteed by the U.S. government
Schedule of Available-for-sale Securities [Line Items]
Less Than 12 Months Fair Value	49,452	13,055
Less Than 12 Months Gross Unrealized Losses	(213)	(24)
12 Months or More Fair Value	2,186	19,383
12 Months or More Gross Unrealized Losses	(19)	(169)
Total Fair Value	51,638	32,438
Total Gross Unrealized Losses	(232)	$ (193)
Redeemable preferred stock
Schedule of Available-for-sale Securities [Line Items]
Less Than 12 Months Fair Value
Less Than 12 Months Gross Unrealized Losses
12 Months or More Fair Value		$ 1,901
12 Months or More Gross Unrealized Losses		(124)
Total Fair Value		1,901
Total Gross Unrealized Losses		(124)
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Less Than 12 Months Fair Value	4,196	1,361
Less Than 12 Months Gross Unrealized Losses	(172)	(205)
12 Months or More Fair Value	5,704	10,621
12 Months or More Gross Unrealized Losses	(1,059)	(1,420)
Total Fair Value	9,900	11,982
Total Gross Unrealized Losses	$ (1,231)	$ (1,625)

Investments (Details 3)

Investments (Details 3) - USD ($) $ in Thousands	12 Months Ended
Investments (Details 3) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net Investment Income [Line Items]
Gross investment income	$ 48,664	$ 46,547	$ 48,627
Investment expense	(3,829)	(3,542)	(3,254)
Net investment income	44,835	43,005	45,373
Fixed maturity securities
Net Investment Income [Line Items]
Gross investment income	24,178	22,861	24,896
Bank loan participations
Net Investment Income [Line Items]
Gross investment income	13,432	13,809	14,406
Equity securities
Net Investment Income [Line Items]
Gross investment income	4,444	4,103	4,308
Other invested assets
Net Investment Income [Line Items]
Gross investment income	5,947	5,690	5,123
Cash, cash equivalents, short-term investments, and other
Net Investment Income [Line Items]
Gross investment income	672	116	120
Trading losses
Net Investment Income [Line Items]
Gross investment income	$ (9)	$ (32)	$ (226)

Investments (Details 4)

Investments (Details 4) - USD ($) $ in Thousands	12 Months Ended
Investments (Details 4) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Gain (Loss) on Investments [Line Items]
Realized gains and losses on investments	$ (4,547)	$ (1,336)	$ 12,619
Realized gains and losses on investments	2,402	(1,734)	10,733
Fixed maturity securities
Gain (Loss) on Investments [Line Items]
Gross realized gains	2,197	522	14,347
Gross realized losses	(826)	(1,502)	(2,823)
Realized gains and losses on investments	1,371	(980)	11,524
Equity securities
Gain (Loss) on Investments [Line Items]
Gross realized gains	1,041	88	13
Gross realized losses	(10)	(842)	(804)
Realized gains and losses on investments	1,031	(754)	(791)
Bank loan participations
Gain (Loss) on Investments [Line Items]
Gross realized gains	1,269	2,178	2,549
Gross realized losses	(8,258)	(1,211)	(675)
Realized gains and losses on investments	(6,989)	967	1,874
Short-term investments and other
Gain (Loss) on Investments [Line Items]
Gross realized gains	54	1,371	$ 12
Gross realized losses	(14)	(1,940)
Realized gains and losses on investments	$ 40	$ (569)	$ 12

Investments (Details 5)

Investments (Details 5) - USD ($) $ in Thousands	12 Months Ended
Investments (Details 5) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, gross unrealized gains (losses)	$ (16,108)	$ 14,644	$ (47,958)
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, gross unrealized gains (losses)	(16,832)	10,765	(41,677)
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, gross unrealized gains (losses)	$ 724	$ 3,879	$ (6,281)

Investments (Details 6)

Investments (Details 6) - USD ($) $ in Thousands		12 Months Ended
Investments (Details 6) - USD ($) $ in Thousands		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net Investment Income [Line Items]
Total other invested assets		$ 54,504	$ 33,622
Investment Income		5,947	5,690	$ 5,123
Renewable energy LLCs
Net Investment Income [Line Items]
Total other invested assets	[1]	26,001	25,119
Investment Income	[1]	3,936	$ 5,234	$ 4,310
Renewable energy bridge financing notes
Net Investment Income [Line Items]
Total other invested assets	[2]	6,500
Investment Income	[2]	3,136
Limited partnerships
Net Investment Income [Line Items]
Total other invested assets	[3]	17,503	$ 4,003
Investment Income	[3]	(1,468)	(128)	$ 131
Bank holding companies
Net Investment Income [Line Items]
Total other invested assets	[4]	4,500	4,500
Investment Income	[4]	$ 343	$ 400	275
Other
Net Investment Income [Line Items]
Total other invested assets	[5]
Investment Income	[5]		$ 184	$ 407

[1]	The Company's Corporate and Other segment owns equity interests ranging from 2.7% to 33.3% in various LLCs whose principal objective is capital appreciation and income generation from owning and operating renewable energy production facilities (wind and solar). The LLCs are managed by an affiliate of the Company's largest shareholder and the Company's Chairman and Chief Executive Officer has invested in certain of these LLCs. The equity method is used to account for the Company's LLC investments. Income for the LLCs primarily reflects adjustments to the carrying values of investments in renewable energy projects to their determined fair values. The fair value adjustments are included in revenues for the LLCs. Expenses for the LLCs are not significant and are comprised of administrative and interest expenses. The Company received cash distributions from these investments totaling $3.1 million and $3.9 million for the years ended December 31, 2015 and 2014, respectively. In March 2014, the Company sold its interest in one of the LLCs for $5.9 million and a $1.9 million realized loss was recognized on the sale. Prior to the sale, investment income of $3.6 million was recognized on this investment in the three months ended March 31, 2014.
[2]	The Company owns investments in bridge loans for renewable energy projects. The notes, all with affiliates of the Company's largest shareholder, generally mature in less than one year and carry primarily variable rates of interest ranging from 7.3% to 15.0%. Original discounts and commitment fees received are recognized over the terms of the notes under the effective interest method. During the year ended December 31, 2015, the Company invested a total of $36.3 million in these notes and received maturities and repayments totaling $30.8 million.
[3]	The Company owns investments in limited partnerships that invest in concentrated portfolios of high yield bonds of companies undergoing financial stress, publicly-traded small cap equities, loans of middle market private equity sponsored companies, and equity tranches of collateralized loan obligations (CLOs). Income from the partnerships is recognized under the equity method of accounting. The Company's Corporate and Other segment held investments in limited partnerships of $2.2 million and $4.0 million at December 31, 2015 and 2014, and recognized investment losses of $510,000 and $128,000 for the years ended December 31, 2015 and 2014, respectively, and investment income of $131,000 for the year ended December 31, 2013. The Chairman and Chief Executive Officer of the Company is an investor in one limited partnership held by the Corporate & Other segment. The Company's Excess and Surplus Lines segment holds investments in limited partnerships of $15.3 million at December 31, 2015. Investment losses of $958,000 were recognized on the investments for the year ended December 31, 2015. At December 31, 2015, the Company's Excess and Surplus Lines segment has an outstanding commitment to invest another $3.6 million in a limited partnership that invests in loans of middle market private equity sponsored companies.
[4]	Net investment income for the years ended December 31, 2014 and 2013 includes $57,000 and $143,000, respectively, related to a previously held equity investment in a bank holding company ("Predecessor Bank Holding Company"). On July 4, 2014, the Predecessor Bank Holding Company merged with and into another bank holding company (the "Surviving Bank Holding Company"). In exchange for its shares of the Predecessor Bank Holding Company, the Company received $354,000 in cash and $6.4 million of common shares in the Surviving Bank Holding Company, and the realized investment gain on the exchange was $1.4 million. The common shares of the Surviving Bank Holding Company are carried as available for-sale equity securities as they are publicly-traded and the Company does not have significant influence over the Surviving Bank Holding Company. The Company also holds $4.5 million of subordinated notes issued by a company that was substantially owned by the Predecessor Bank Holding Company (the "Bank Affiliate"). The $4.5 million of subordinated notes issued by the Bank Affiliate became debt of the Surviving Bank Holding Company. Interest on the notes, which mature on August 12, 2023, is fixed at 7.6% per annum. Interest income on the notes was $343,000 in both years ended December 31, 2015 and 2014. The Chairman and Chief Executive Officer of the Company previously served as Chairman of the Predecessor Bank Holding Company and the Bank Affiliate. Effective July 4, 2014, the Company's Chairman and Chief Executive Officer became the Lead Independent Director of the Surviving Bank Holding Company. The Chairman and Chief Executive Officer of the Company is a former investor in the Predecessor Bank Holding Company and is now an investor in the Surviving Bank Holding Company. Additionally, one of the Company's directors is a former investor in the Bank Holding Company and is now an investor in the Surviving Bank Holding Company. In addition, this director was a lender to the Bank Affiliate and is now a lender to the Surviving Bank Holding Company. The Company's Chief Financial Officer is a former investor in the Predecessor Bank Holding Company and the Surviving Bank Holding Company.
[5]	For the years ended December 31, 2014 and 2013, income of $184,000 and $415,000, respectively, was recognized on a $3.3 million note agreement with two property development companies. The note, which carried a fixed interest rate of 11.10%, was repaid in full on July 3, 2014. The Bank Holding Company also entered into note agreements with the same property development companies.

Investments (Detail Textuals)

Investments (Detail Textuals)	3 Months Ended	12 Months Ended
Investments (Detail Textuals)	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)IssuersBondLoans	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)Security
Gain (Loss) on Investments [Line Items]
Number of available-for-sale securities held in an unrealized loss position \| Issuers		113
Total fair value of unrealized loss position securities		$ 469,037,000	$ 228,536,000
Total gross unrealized losses of unrealized loss position securities		14,212,000	6,639,000
Fair value		973,771,000	824,868,000
Gross unrealized losses		14,212,000	6,639,000
Carrying value of loan		191,700,000	239,511,000
Net investment income		44,835,000	43,005,000	$ 45,373,000
Trading losses
Gain (Loss) on Investments [Line Items]
Trading securities, realized gain (loss)		(9,000)	(32,000)	(226,000)
Net trading losses related to securities still held		7,000	60,000	180,000
Fixed maturity securities
Gain (Loss) on Investments [Line Items]
Total fair value of unrealized loss position securities		459,137,000	216,554,000
Total gross unrealized losses of unrealized loss position securities		12,981,000	5,014,000
Fair value		899,660,000	756,963,000
Gross unrealized losses		$ 12,981,000	5,014,000
Puerto rico loan
Gain (Loss) on Investments [Line Items]
Number of loans held \| Loans		2
Allowance for credit losses		$ 414,000	752,000
Carrying value of impaired loans			7,100,000
Carrying value of loan		3,900,000
Unpaid principal on impaired loans		4,600,000	8,400,000
Oil and gas companies loan
Gain (Loss) on Investments [Line Items]
Gross unrealized losses		$ 4,100,000
Number of loans held \| Loans		8
Number of impaired loans \| Loans		2
Allowance for credit losses		$ 3,900,000
Carrying value of impaired loans		1,700,000
Carrying value of loan		15,800,000
Unpaid principal on impaired loans		5,800,000
Impaired bank loans
Gain (Loss) on Investments [Line Items]
Average recorded investment in impaired bank loans		6,700,000	3,700,000	307,000
Realized losses		3,400,000	607,000	121,000
Net investment income		229,000	106,000	$ 32,000
Equity securities
Gain (Loss) on Investments [Line Items]
Number of available-for-sale securities held in an unrealized loss position \| Security				1
Total fair value of unrealized loss position securities		9,900,000	11,982,000
Total gross unrealized losses of unrealized loss position securities		1,231,000	1,625,000
Fair value		74,111,000	67,905,000
Gross unrealized losses		$ 1,231,000	1,625,000
Impairment loss				$ 804,000
Non-energy sector loan
Gain (Loss) on Investments [Line Items]
Number of impaired loans \| Loans		1
Allowance for credit losses		$ 34,000
Carrying value of impaired loans		689,000
Unpaid principal on impaired loans		722,000
Bank loan participations
Gain (Loss) on Investments [Line Items]
Allowance for credit losses				242,000
Carrying value of impaired loans				246,000
Unpaid principal on impaired loans				$ 488,000
Unamortized Discount		7,100,000	3,800,000
Unamortized Premium		$ 35,000	26,000
A- or better \| Fixed maturity securities
Gain (Loss) on Investments [Line Items]
Percentage of available for sale securities		86.60%
Ratings below investment grade \| Fixed maturity securities
Gain (Loss) on Investments [Line Items]
Fair value		$ 9,400,000
Gross unrealized losses		$ 5,200,000
Ratings below investment grade \| Impaired Puerto Rico Municipal Bonds
Gain (Loss) on Investments [Line Items]
Number of impaired Puerto Rico municipal bonds held \| Bond		2
Net realized gain on sale	$ 22,000
Impairment loss		$ 660,000	$ 1,400,000

Investments (Detail Textuals 1)

Investments (Detail Textuals 1)	Jul. 04, 2014USD ($)	Mar. 31, 2015USD ($)	Dec. 19, 2014USD ($)	Mar. 31, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2015USD ($)Director	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Schedule of Available-for-sale Securities [Line Items]
Investments in fixed maturities						$ 899,660,000	$ 756,963,000
Realized investment gains and losses						(4,547,000)	(1,336,000)	$ 12,619,000
Cash distributions from LLCs						2,885,000	3,904,000	2,637,000
Investment income						2,468,000	5,163,000	4,620,000
Renewable energy bridge financing notes
Schedule of Available-for-sale Securities [Line Items]
Investment amount						36,300,000
Proceeds from partial maturities						30,800,000
First Wind
Schedule of Available-for-sale Securities [Line Items]
Carrying value of investments							4,600,000
Surviving Bank Holding Company
Schedule of Available-for-sale Securities [Line Items]
Interest income						5,000
Purchase of certificate of deposit			$ 1,000,000
Corporate and other segment \| Limited partnerships
Schedule of Available-for-sale Securities [Line Items]
Investment income						(510,000)	(128,000)	131,000
Carrying values of limited partnerships						2,200,000	4,000,000
Excess and Surplus Lines \| Limited partnerships
Schedule of Available-for-sale Securities [Line Items]
Investment income						(958,000)
Carrying values of limited partnerships						15,300,000
Outstanding commitment to invest						$ 3,600,000
Minimum \| Renewable energy bridge financing notes
Schedule of Available-for-sale Securities [Line Items]
Rate of interest						7.30%
Maximum \| Renewable energy bridge financing notes
Schedule of Available-for-sale Securities [Line Items]
Rate of interest						15.00%
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Realized investment gains and losses						$ 1,371,000	(980,000)	11,524,000
Fixed maturity securities \| First Wind
Schedule of Available-for-sale Securities [Line Items]
Number of directors \| Director						2
Realized gains		$ 845,000
Bank Holding Company
Schedule of Available-for-sale Securities [Line Items]
Investment in subordinated notes						$ 4,500,000
Rate of interest						7.60%
Interest income						$ 343,000	343,000
Investment income							57,000	$ 143,000
Bank Holding Company \| Surviving Bank Holding Company
Schedule of Available-for-sale Securities [Line Items]
Cash received in exchange	$ 354,000
Value of common shares received in exchange	6,400,000
Realized investment gains and losses	$ 1,400,000
Investment in LLC
Schedule of Available-for-sale Securities [Line Items]
Proceeds from sale of investment				$ 5,900,000
Investment income					$ 3,600,000
Realized loss recognized on sale of investment				$ 1,900,000
Investment in LLC \| Corporate and other segment
Schedule of Available-for-sale Securities [Line Items]
Cash distributions from LLCs						$ 3,100,000	$ 3,900,000
Investment in LLC \| Minimum \| Corporate and other segment
Schedule of Available-for-sale Securities [Line Items]
Ownership percentage						2.70%
Investment in LLC \| Maximum \| Corporate and other segment
Schedule of Available-for-sale Securities [Line Items]
Ownership percentage						33.30%

Investments (Detail Textuals 2)

Investments (Detail Textuals 2)	Jul. 03, 2014USD ($)Company	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2015USD ($)
Schedule of Available-for-sale Securities [Line Items]
Investment as collateral for outstanding letters of credit				$ 401,100,000
Investments on deposit with state insurance departments		$ 16,000,000		$ 16,200,000
Property development companies
Schedule of Available-for-sale Securities [Line Items]
Interest income		$ 184,000	$ 415,000
Number of property development companies \| Company	2
Investments in note agreements	$ 3,300,000
Investment interest rate	11.10%

Deferred Policy Acquisition C69

Deferred Policy Acquisition Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance at beginning of period	$ 60,202	$ 46,204	$ 49,336
Policy acquisition costs deferred:
Commissions	90,342	93,646	63,958
Underwriting and other issue expenses	7,960	5,535	4,558
Policy acquisition costs deferred	98,302	99,181	68,516
Amortization of policy acquisition costs	(97,750)	(85,183)	(71,648)
Net change	552	13,998	(3,132)
Balance at end of period	$ 60,754	$ 60,202	$ 46,204

Goodwill and Intangible Asset70

Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Acquired Intangible Assets [Line Items]
Identifiable intangibles not subject to amortization	$ 31,364	$ 31,364
Identifiable intangible assets subject to amortization
Gross Carrying Amount	11,611	11,611
Accumulated Amortization	3,447	2,850
Total Intangible Assets, Gross	$ 42,975	42,975
Life (Years)	24 years 7 months 6 days
Broker relationships
Identifiable intangible assets subject to amortization
Gross Carrying Amount	$ 11,611	11,611
Accumulated Amortization	3,447	2,850
Trademarks
Acquired Intangible Assets [Line Items]
Identifiable intangibles not subject to amortization	22,200	22,200
Insurance licenses and authorities
Acquired Intangible Assets [Line Items]
Identifiable intangibles not subject to amortization	$ 9,164	$ 9,164

Goodwill and Intangible Asset71

Goodwill and Intangible Assets (Details 1) $ in Thousands	Dec. 31, 2015USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2,016	$ 597
2,017	597
2,018	597
2,019	597
2,020	538
Thereafter	5,237
Total	$ 8,163

Goodwill and Intangible Asset72

Goodwill and Intangible Assets (Details 2) - USD ($)	12 Months Ended
Goodwill and Intangible Assets (Details 2) - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Intangible Assets [Roll Forward]
Net Carrying Value	$ 40,125,000	$ 40,722,000
Amortization	$ (597,000)	$ (597,000)	$ (2,470,000)
Impairment Losses
Net Carrying Value	$ 39,528,000	$ 40,125,000	$ 40,722,000
Excess and Surplus Lines
Intangible Assets [Roll Forward]
Net Carrying Value	32,013,000	32,375,000
Amortization	$ (362,000)	$ (362,000)	(2,300,000)
Impairment Losses
Net Carrying Value	$ 31,651,000	$ 32,013,000	32,375,000
Excess and Surplus Lines \| Broker relationships
Intangible Assets [Roll Forward]
Net Carrying Value	7,413,000	7,775,000
Amortization	$ (362,000)	$ (362,000)
Impairment Losses
Net Carrying Value	$ 7,051,000	$ 7,413,000	7,775,000
Excess and Surplus Lines \| Trademarks
Intangible Assets [Roll Forward]
Net Carrying Value	$ 19,700,000	$ 19,700,000
Amortization
Impairment Losses
Net Carrying Value	$ 19,700,000	$ 19,700,000	19,700,000
Excess and Surplus Lines \| Insurance licenses and authorities
Intangible Assets [Roll Forward]
Net Carrying Value	$ 4,900,000	$ 4,900,000
Amortization
Impairment Losses
Net Carrying Value	$ 4,900,000	$ 4,900,000	4,900,000
Specialty Admitted Insurance
Intangible Assets [Roll Forward]
Net Carrying Value	8,112,000	8,347,000
Amortization	$ (235,000)	$ (235,000)	(168,000)
Impairment Losses
Net Carrying Value	$ 7,877,000	$ 8,112,000	8,347,000
Specialty Admitted Insurance \| Broker relationships
Intangible Assets [Roll Forward]
Net Carrying Value	1,347,000	1,582,000
Amortization	$ (235,000)	$ (235,000)
Impairment Losses
Net Carrying Value	$ 1,112,000	$ 1,347,000	1,582,000
Specialty Admitted Insurance \| Trademarks
Intangible Assets [Roll Forward]
Net Carrying Value	$ 2,500,000	$ 2,500,000
Amortization
Impairment Losses
Net Carrying Value	$ 2,500,000	$ 2,500,000	2,500,000
Specialty Admitted Insurance \| Insurance licenses and authorities
Intangible Assets [Roll Forward]
Net Carrying Value	$ 4,265,000	$ 4,265,000
Amortization
Impairment Losses
Net Carrying Value	$ 4,265,000	$ 4,265,000	$ 4,265,000

Goodwill and Intangible Asset73

Goodwill and Intangible Assets (Detail Textuals) - USD ($)	12 Months Ended
Goodwill and Intangible Assets (Detail Textuals) - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 11, 2007
Business Acquisition [Line Items]
Goodwill	$ 181,831,000	$ 181,831,000	$ 181,831,000
Accumulated goodwill impairment losses	99,600,000	99,600,000
Amortization of Intangible Assets	597,000	597,000	2,470,000
Excess and Surplus Lines
Business Acquisition [Line Items]
Amortization of Intangible Assets	362,000	362,000	2,300,000
Specialty Admitted Insurance
Business Acquisition [Line Items]
Amortization of Intangible Assets	$ 235,000	$ 235,000	$ 168,000
James River Group, Inc.
Business Acquisition [Line Items]
Percentage of outstanding shares				100.00%

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Property and equipment, cost basis	$ 35,604	$ 35,163
Accumulated depreciation	(11,615)	(10,186)
Property and equipment, net	23,989	24,977
Building, leased for which the Company has been deemed the owner for accounting purposes
Property, Plant and Equipment [Line Items]
Property and equipment, cost basis	29,940	29,917
Electronic data processing hardware and software
Property, Plant and Equipment [Line Items]
Property and equipment, cost basis	3,481	3,353
Furniture and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, cost basis	$ 2,183	$ 1,893

Reserve for Losses and Loss A75

Reserve for Losses and Loss Adjustment Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reserve For Losses And Loss Adjustment Expenses [Roll Forward]
Reserve for losses and loss adjustment expenses net of reinsurance recoverables at beginning of period	$ 589,042	$ 526,985	$ 533,909
Add: Incurred losses and loss adjustment expenses net of reinsurance:
Current year	295,334	264,786	221,938
Prior years	(16,318)	(27,418)	(37,452)
Total incurred losses and loss and adjustment expenses	279,016	237,368	184,486
Deduct: Loss and loss adjustment expense payments net of reinsurance:
Current year	31,957	25,942	19,485
Prior years	182,567	149,369	171,925
Total loss and loss adjustment expense payments	214,524	175,311	191,410
Reserve for losses and loss adjustment expenses net of reinsurance recoverables at end of period	653,534	589,042	526,985
Add: Reinsurance recoverables on unpaid losses and loss adjustment expenses at end of period	131,788	127,254	119,467
Reserve for losses and loss adjustment expenses	$ 785,322	$ 716,296	$ 646,452

Reserve for Losses and Loss A76

Reserve for Losses and Loss Adjustment Expenses (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Favorable development on prior year loss reserves
Reserve for losses and loss adjustment expenses	$ 16,318	$ 27,418	$ 37,452
Excess and Surplus Lines
Favorable development on prior year loss reserves
Reserve for losses and loss adjustment expenses	25,400	27,300	40,700
Excess and Surplus Lines \| 2014 accident year
Favorable development on prior year loss reserves
Reserve for losses and loss adjustment expenses	17,300
Excess and Surplus Lines \| 2013 accident year
Favorable development on prior year loss reserves
Reserve for losses and loss adjustment expenses	10,500
Excess and Surplus Lines \| 2011 accident year
Favorable development on prior year loss reserves
Reserve for losses and loss adjustment expenses		7,900
Excess and Surplus Lines \| 2009 accident year
Favorable development on prior year loss reserves
Reserve for losses and loss adjustment expenses		5,000	11,700
Excess and Surplus Lines \| 2007 accident year
Favorable development on prior year loss reserves
Reserve for losses and loss adjustment expenses		4,200	7,500
Excess and Surplus Lines \| 2008 accident year
Favorable development on prior year loss reserves
Reserve for losses and loss adjustment expenses			5,700
Specialty Admitted Insurance
Favorable development on prior year loss reserves
Reserve for losses and loss adjustment expenses			1,400
Specialty Admitted Insurance \| 2011 through 2013 accident year
Favorable development on prior year loss reserves
Reserve for losses and loss adjustment expenses	3,500
Specialty Admitted Insurance \| 2007 through 2012 accident years
Favorable development on prior year loss reserves
Reserve for losses and loss adjustment expenses		5,900
Specialty Admitted Insurance \| 2012 accident year
Favorable development on prior year loss reserves
Reserve for losses and loss adjustment expenses			1,300
Casualty Reinsurance
Favorable development on prior year loss reserves
Reserve for losses and loss adjustment expenses	$ (12,600)	$ (5,700)	(4,700)
Casualty Reinsurance \| 2011 accident year
Favorable development on prior year loss reserves
Reserve for losses and loss adjustment expenses			(3,700)
Casualty Reinsurance \| 2012 and 2011 accident years
Favorable development on prior year loss reserves
Reserve for losses and loss adjustment expenses			$ (1,000)

Reinsurance (Details)

Reinsurance (Details) - USD ($) $ in Thousands	12 Months Ended
Reinsurance (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Written premiums:
Direct	$ 395,816	$ 310,161	$ 211,607
Assumed	176,378	208,606	156,911
Ceded written premiums	(101,162)	(68,684)	(43,352)
Net written premiums	471,032	450,083	325,166
Earned premiums:
Direct	367,340	281,676	196,351
Assumed	181,326	178,045	192,690
Ceded	(87,461)	(63,509)	(60,963)
Net earned premiums	461,205	396,212	328,078
Losses and loss adjustment expenses:
Direct	201,755	144,178	73,948
Assumed	127,276	118,515	141,340
Ceded	(50,015)	(25,325)	(30,802)
Net	$ 279,016	$ 237,368	$ 184,486

Reinsurance (Detail Textuals)

Reinsurance (Detail Textuals) - USD ($)	12 Months Ended
Reinsurance (Detail Textuals) - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Ceded Credit Risk [Line Items]
Reinsurance recoverable on unpaid losses	$ 131,788,000	$ 127,254,000	$ 119,467,000
Reinsurance recoverable on paid losses	$ 11,298,000	1,725,000
Percentage of reinsurance recoverables on unpaid losses for 3 largest reinsurers	57.20%
Prepaid reinsurance premiums ceded	$ 44,146,000	$ 29,445,000
Percentage of prepaid reinsurance premiums ceded for 3 largest reinsurers	57.50%
Largest reinsurer one
Ceded Credit Risk [Line Items]
Reinsurance recoverable on unpaid losses	$ 33,600,000
Prepaid reinsurance premiums ceded	11,600,000
Largest reinsurer two
Ceded Credit Risk [Line Items]
Reinsurance recoverable on unpaid losses	26,600,000
Prepaid reinsurance premiums ceded	7,300,000
Largest reinsurer three
Ceded Credit Risk [Line Items]
Reinsurance recoverable on unpaid losses	15,300,000
Prepaid reinsurance premiums ceded	6,600,000
American Empire Surplus Lines Insurance Company
Ceded Credit Risk [Line Items]
Fair value of assets in trust	695,000
Reinsurance recoverables	$ 316,000

Senior Debt (Details Textuals)

Senior Debt (Details Textuals) - USD ($) $ in Thousands	Jun. 05, 2013	May. 20, 2015	Sep. 24, 2014	May. 26, 2004	Dec. 31, 2015	Dec. 31, 2013	May. 26, 2014
Line of Credit Facility [Line Items]
Repayments of Senior Debt					$ 10,000	$ 20,000
Senior revolving credit facility
Line of Credit Facility [Line Items]
Line of Credit Facility, Current Borrowing Capacity					215,000
Senior revolving credit facility \| JRG Re
Line of Credit Facility [Line Items]
Line of Credit Facility, Expiration Period	3 years
Line of Credit Facility, Maximum Borrowing Capacity	$ 125,000		$ 175,000
Repayments of Senior Debt	20,000
Senior revolving credit facility \| Surviving Bank Holding Company
Line of Credit Facility [Line Items]
Commitment to lend					12,000
Senior revolving credit facility \| Secured \| JRG Re
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	62,500	$ 102,500
Line of Credit Facility, Increase (Decrease), Net		$ 40,000
Letters of credit outstanding					35,100
Senior revolving credit facility \| Unsecured \| JRG Re
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 62,500		$ 112,500
Line of Credit Facility, Expiration Date			Sep. 24, 2019
Description of interest rate	LIBOR plus a margin of 2.0%
Long-term Line of Credit					$ 73,300
Senior Debt
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount							$ 15,000
Description of interest rate				three-month LIBOR plus 3.85%

Junior Subordinated Debt (Detai

Junior Subordinated Debt (Details) - Junior Subordinated Debt $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
James River Capital Trust I
Debt Instrument [Line Items]
Issue date	May 26, 2004
Principal amount of Trust Preferred Securities	$ 7,000
Principal amount of Junior Subordinated Debt	7,217
Carrying amount of Junior Subordinated Debt net of repurchases	$ 7,217
Maturity date of Junior Subordinated Debt, unless accelerated earlier	May 24, 2034
Trust common stock	$ 217
Interest rate, per annum	Three-Month LIBOR plus 4.0%
Redeemable at 100% of principal amount at option of the Company on or after	May 24, 2009
James River Capital Trust II
Debt Instrument [Line Items]
Issue date	Dec. 15, 2004
Principal amount of Trust Preferred Securities	$ 15,000
Principal amount of Junior Subordinated Debt	15,464
Carrying amount of Junior Subordinated Debt net of repurchases	$ 15,464
Maturity date of Junior Subordinated Debt, unless accelerated earlier	Dec. 15, 2034
Trust common stock	$ 464
Interest rate, per annum	Three-Month LIBOR plus 3.4%
Redeemable at 100% of principal amount at option of the Company on or after	Dec. 15, 2009
James River Capital Trust III
Debt Instrument [Line Items]
Issue date	Jun. 15, 2006
Principal amount of Trust Preferred Securities	$ 20,000
Principal amount of Junior Subordinated Debt	20,619
Carrying amount of Junior Subordinated Debt net of repurchases	$ 20,619
Maturity date of Junior Subordinated Debt, unless accelerated earlier	Jun. 15, 2036
Trust common stock	$ 619
Interest rate, per annum	Three-Month LIBOR plus 3.0%
Redeemable at 100% of principal amount at option of the Company on or after	Jun. 15, 2011
James River Capital Trust IV
Debt Instrument [Line Items]
Issue date	Dec. 11, 2007
Principal amount of Trust Preferred Securities	$ 54,000
Principal amount of Junior Subordinated Debt	55,670
Carrying amount of Junior Subordinated Debt net of repurchases	$ 44,827
Maturity date of Junior Subordinated Debt, unless accelerated earlier	Dec. 15, 2037
Trust common stock	$ 1,670
Interest rate, per annum	Three-Month LIBOR plus 3.1%
Redeemable at 100% of principal amount at option of the Company on or after	Mar. 15, 2013
Franklin Holdings II (Bermuda) Capital Trust I
Debt Instrument [Line Items]
Issue date	Jan. 10, 2008
Principal amount of Trust Preferred Securities	$ 30,000
Principal amount of Junior Subordinated Debt	30,928
Carrying amount of Junior Subordinated Debt net of repurchases	$ 15,928
Maturity date of Junior Subordinated Debt, unless accelerated earlier	Mar. 15, 2038
Trust common stock	$ 928
Interest rate, per annum	Three-Month LIBOR plus 4.0%
Redeemable at 100% of principal amount at option of the Company on or after	Jun. 15, 2013

Capital Stock (Details)

Capital Stock (Details) - Dividends Declared - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	12 Months Ended
	Aug. 27, 2014	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Date of Declaration	Aug. 27, 2014
Dividend per Common Share	$ 2.45	$ 1.64
Payable to Shareholders of Record on	Jun. 30, 2014
Total Amount	$ 70	$ 47.8
February 17, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Date of Declaration		Feb. 17, 2015
Dividend per Common Share		$ 0.16
Payable to Shareholders of Record on		Mar. 16, 2015
Payment Date		Mar. 31, 2015
Total Amount		$ 4.6
May 5, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Date of Declaration		May 5, 2015
Dividend per Common Share		$ 0.16
Payable to Shareholders of Record on		Jun. 15, 2015
Payment Date		Jun. 30, 2015
Total Amount		$ 4.6
August 5, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Date of Declaration		Aug. 5, 2015
Dividend per Common Share		$ 0.16
Payable to Shareholders of Record on		Sep. 14, 2015
Payment Date		Sep. 30, 2015
Total Amount		$ 4.7
November 3, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Date of Declaration		Nov. 3, 2015
Dividend per Common Share		$ 0.16
Payable to Shareholders of Record on		Dec. 14, 2015
Payment Date		Dec. 28, 2015
Total Amount		$ 4.7
November 3, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Date of Declaration		Nov. 3, 2015
Dividend per Common Share		$ 1
Payable to Shareholders of Record on		Dec. 14, 2015
Payment Date		Dec. 28, 2015
Total Amount		$ 29.2

Capital Stock (Detail Textuals)

Capital Stock (Detail Textuals) - $ / shares	Dec. 09, 2014	Dec. 31, 2015	Dec. 31, 2014
Stockholders' Equity Note [Abstract]
Stock split	1 for 50 basis
Common stock, shares authorized	200,000,000	200,000,000	200,000,000
Common stock, par value (in dollars per share)	$ 0.0002	$ 0.0002	$ 0.0002
Common stock, shares issued	28,540,350	28,941,547	28,540,350
Common stock, shares outstanding	28,540,350	28,941,547	28,540,350
Undesignated preferred stock, shares authorized	20,000,000	20,000,000	20,000,000
Undesignated stock par value (in dollars per share)	$ 0.00125	$ 0.00125	$ 0.00125

Capital Stock (Detail Textuals

Capital Stock (Detail Textuals 1) - USD ($) $ / shares in Units, $ in Thousands	Apr. 03, 2013	Oct. 22, 2013	Dec. 31, 2015	Dec. 31, 2013
Capital Stock [Line Items]
Common share repurchases			$ 6,461	$ 110,760
Common Shares
Capital Stock [Line Items]
Shares exchanged for issuance of common shares				10,350
Repurchased outstanding common shares	7,500,000
Common shares, price per share	$ 14.77
Total purchase price	$ 110,800
Common share repurchases	88,600
Amount paid with promissory notes	$ 22,200
Interest on the notes per annum	2.50%
Common shares reserved for future issuance			4,284,900
Franklin Holdings II \| Common Shares
Capital Stock [Line Items]
Shares exchanged for issuance of common shares		10,350

Capital Stock (Detail Textual84

Capital Stock (Detail Textuals 2) - USD ($)	1 Months Ended	12 Months Ended
Capital Stock (Detail Textuals 2) - USD ($)	Aug. 27, 2014	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend distributions to intermediate holding company		$ 50,000,000
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock unit dividend equivalents		558,000
Dividends payable		$ 385,000
Dividends Declared
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Date of Declaration	Aug. 27, 2014
Dividend per Common Share	$ 2.45	$ 1.64
Payable to Shareholders of Record on	Jun. 30, 2014
Dividends payable	$ 70,000,000	$ 47,800,000
Dividend distributions to intermediate holding company	50,000,000
Additional borrowings on unsecured revolving credit facility	$ 20,000,000

Equity Awards (Details)

Equity Awards (Details) - Options - $ / shares	12 Months Ended
Equity Awards (Details) - Options - $ / shares	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Shares
Outstanding, Beginning of year	3,104,768	2,166,250	2,287,500
Granted	10,627	993,518	50,000
Exercised	(1,047,500)
Forfeited	(9,810)
Lapsed		(55,000)	(171,250)
Outstanding, End of year	2,058,085	3,104,768	2,166,250
Exercisable, end of year	1,217,903	1,751,249	1,570,100
Weighted- Average Exercise Price
Outstanding, Beginning of year	$ 17.27	$ 15.51	$ 15.5
Granted	24.32	$ 21	$ 16.83
Exercised	15.66
Forfeited	$ 21
Lapsed		$ 15.65	$ 15.65
Outstanding, End of year	$ 18.11	17.27	15.51
Exercisable, end of year	$ 16.85	$ 15.51	$ 15.54

Equity Awards (Details 1)

Equity Awards (Details 1)	12 Months Ended
Equity Awards (Details 1)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield			0.00%
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk Free Interest Rate, Minimum			0.77%
Risk Free Interest Rate, Maximum			1.50%
Risk Free Interest Rate	1.54%	1.53%
Dividend yield	4.00%	2.00%	0.00%
Expected share price volatility	25.00%	25.00%	26.00%
Expected life	5 years	5 years	5 years

Equity Awards (Details 2)

Equity Awards (Details 2) - RSUs - $ / shares	12 Months Ended
Equity Awards (Details 2) - RSUs - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Shares
Unvested, beginning of year	340,474
Granted		340,474
Vested	(105,552)
Unvested, end of year	234,922	340,474
Weighted- Average Grant Date Fair Value
Unvested, beginning of year	$ 21
Granted		$ 21
Vested	$ 21
Unvested, end of year	$ 21	$ 21

Equity Awards (Details 3)

Equity Awards (Details 3) - USD ($) $ in Thousands	12 Months Ended
Equity Awards (Details 3) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share based compensation expense	$ 3,735	$ 589	$ 647
U.S. tax benefit on share based compensation expense	$ 1,025	$ 135	$ 139

Equity Awards (Detail Textuals)

Equity Awards (Detail Textuals) $ in Millions	12 Months Ended
Equity Awards (Detail Textuals) $ in Millions	Dec. 31, 2015USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share based compensation expense \| $	$ 7.5
Weighted-average period of unrecognized share based compensation expense	2 years 4 months 24 days
2014 Long Term Incentive Plan ("2014 LTIP")
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares available for issuance	3,171,150
Number of shares available for grant	1,843,481
2014 Non-Employee Director Incentive Plan ("2014 Director Plan")
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares available for issuance	50,000
Number of shares available for grant	42,860

Equity Awards (Detail Textuals

Equity Awards (Detail Textuals 1) - Options - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of options exercised	$ 12.8
Aggregate intrinsic value of options outstanding	31.8	$ 17.1	$ 5.4
Aggregate intrinsic value of options exercisable	$ 20.3	$ 12.7	$ 3.9
Grants in Period, Grant Date Intrinsic Value	$ 33.54	$ 22.76	$ 18.01
Weighted-average remaining contractual life of options outstanding	4 years 2 months 12 days
Weighted-average remaining contractual life of options exercisable	3 years 4 months 24 days
Weighted-average fair value of options granted	$ 4.31	$ 3.99	$ 3.62

Equity Awards (Detail Textual91

Equity Awards (Detail Textuals 2) $ in Millions	12 Months Ended
Equity Awards (Detail Textuals 2) $ in Millions	Dec. 31, 2015USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share based compensation expense	$ 7.5
Weighted-average period of unrecognized share based compensation expense	2 years 4 months 24 days
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total fair value of shares vested	$ 3.5

Non-Controlling Interest Subs92

Non-Controlling Interest Subsidiary Common Shares and Share Options (Detail Textuals) - USD ($)	Apr. 03, 2013	Oct. 22, 2013	Dec. 31, 2013
Noncontrolling Interest [Line Items]
Cash purchase price			$ 110,760,000
Common stock
Noncontrolling Interest [Line Items]
Repurchased outstanding common shares	7,500,000
Common shares, price per share	$ 14.77
Cash purchase price			$ 1,000
Franklin Holdings II \| Common stock \| Class A
Noncontrolling Interest [Line Items]
Repurchased outstanding common shares	20,766
Common shares, price per share	$ 25.4748
Cash purchase price	$ 529,000
Minority shareholder transferred shares to issue common shares		6,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Expected Federal income tax expense	$ 5,317	$ 3,166	$ 10,906
Tax-exempt investment income	(858)	(751)	(769)
Dividends received deduction	(867)	(740)	(583)
Tax credits on renewable energy investments		(2,033)
Other	379	897	187
Federal income tax expense	3,971	539	9,741
U.S. state income tax (benefit) expense	(192)	400
U.S. dividend withholding tax	2,500
Total income tax expense	$ 6,279	$ 939	$ 9,741

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets:
Accrued compensation expenses	$ 5,318	$ 5,673
Reserve for losses and loss adjustment expenses	4,861	5,112
Unearned premiums	2,474	2,130
Share based compensation	1,948	2,856
Allowance for doubtful accounts	972	695
Deferred policy acquisition costs	593	123
Property and equipment	2,221	1,771
AMT credit	430
Invested asset impairments	891	824
Other	2,209	1,851
Total deferred tax assets	21,917	21,035
Deferred tax liabilities:
Intangible assets	12,573	12,592
Net unrealized gains	3,310	4,248
Deferred gain on extinguishment of debt	318	424
Equity method investments	4,784	2,897
Other	464	423
Total deferred tax liabilities	21,449	20,584
Net deferred tax assets	$ 468	$ 451

Income Taxes (Detail Textuals)

Income Taxes (Detail Textuals) - USD ($) $ in Millions	12 Months Ended
Income Taxes (Detail Textuals) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Examination [Line Items]
Percentage of dividend withholding tax	5.00%
Dividend distributions to intermediate holding company	$ 50
Remittance of dividend withholding tax	$ 2.5
Federal statutory tax rates	35.00%
U.S. income before Federal income taxes	$ 15.2	$ 9	$ 31.1
Percentage of excise tax on reinsurance premiums paid	1.00%
Payment of federal excise taxes	$ 1.9	1.4	1.4
Excise taxes paid	$ 1.7	$ 1.8	$ 2.6
Bermuda
Income Tax Examination [Line Items]
Federal statutory tax rates	0.00%

Other Operating Expenses and 96

Other Operating Expenses and Other Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Other Operating Expenses And Other Expenses [Abstract]
Amortization of policy acquisition costs	$ 97,750	$ 85,183	$ 71,648
Other underwriting expenses of the operating segments	41,499	38,748	34,849
Other operating expenses of the Corporate and Other segment	18,554	9,124	8,307
Total	$ 157,803	$ 133,055	$ 114,804

Other Operating Expenses and 97

Other Operating Expenses and Other Expenses (Detail Textuals) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Other Operating Expenses And Other Expenses [Abstract]
Related party leasing agreement expense	$ 276,000	$ 299,000	$ 285,000
Expenses related to a cash bonus pool approved		10,200,000
Severance expenses	170,000	600,000
Legal, tax, and other professional services expense	284,000	4,300,000
Other expenses due diligence costs		183,000	392,000
Other offering related expenses		399,000
Total other expenses	$ 730,000	$ 16,012,000	$ 677,000

Employee Benefits (Details)

Employee Benefits (Details) - USD ($) $ in Millions	12 Months Ended
Employee Benefits (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Employee Benefits and Share-based Compensation [Abstract]
Maximum matching employer contribution	6.00%
Expense associated with Savings Plans	$ 1.6	$ 1.3	$ 1.1

Commitments and Contingent Li99

Commitments and Contingent Liabilities (Details) $ in Thousands	Dec. 31, 2015USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,016	$ 3,355
2,017	3,395
2,018	3,308
2,019	3,219
2,020	2,992
Thereafter	13,276
Total	$ 29,545

Commitments and Contingent L100

Commitments and Contingent Liabilities (Detail Textuals) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Contingent Liabilities [Line Items]
Rental expense	$ 2,600,000	$ 2,400,000	$ 2,200,000
Future minimum lease payments for building constructed	$ 23,800,000
Lease term (in years)	10 years
Total payments under lease	$ 29,545,000
Policy management software
Contingent Liabilities [Line Items]
Lease term (in years)	5 years
Total payments under lease	$ 2,200,000
Lease payment per year	$ 440,000
JRG Reinsurance Company, Ltd.
Contingent Liabilities [Line Items]
Number of letter of credit facilities	2
Total amount deposited in trust accounts	$ 241,400,000
JRG Reinsurance Company, Ltd. \| Letter of credit 100 Million
Contingent Liabilities [Line Items]
Letters of credit facility, amount	100,000,000
Amount of letters of credit issued	96,900,000
Assets deposited for securing letters of credit	111,300,000
JRG Reinsurance Company, Ltd. \| Letter of credit 102.5 Million
Contingent Liabilities [Line Items]
Letters of credit facility, amount	102,500,000
Amount of letters of credit issued	35,100,000
Assets deposited for securing letters of credit	$ 48,500,000

Other Comprehensive Income (101

Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Unrealized (losses) gains arising during the period, before U.S. income taxes	$ (13,707)	$ 12,910	$ (37,225)
U.S. income taxes	517	(2,820)	5,854
Unrealized (losses) gains arising during the period, net of U.S. income taxes	(13,190)	10,090	(31,371)
Less reclassification adjustment:
Net realized investment gains (losses)	2,402	(1,734)	10,733
U.S. income taxes	(422)	669	(2,859)
Reclassification adjustment for investment gains (losses) realized in net income	1,980	(1,065)	7,874
Other comprehensive (loss) income	$ (15,170)	$ 11,155	$ (39,245)

Other Comprehensive Income (102

Other Comprehensive Income (Loss) (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]
Net realized investment gains (losses)	$ 2,402	$ (1,734)	$ 10,733
Bank loan participations
Schedule of Available-for-sale Securities [Line Items]
Net realized investment gains (losses)	(6,989)	967	1,874
Short-term investments and other
Schedule of Available-for-sale Securities [Line Items]
Net realized investment gains (losses)	$ 40	$ (569)	$ 12

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
Segment Information (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Gross written premiums	$ 108,689	$ 148,236	$ 184,011	$ 131,258	$ 103,151	$ 171,415	$ 96,960	$ 147,241	$ 572,194	$ 518,767	$ 368,518
Net earned premiums									461,205	396,212	328,078
Segment revenues	125,104	$ 133,123	$ 120,227	$ 126,467	120,695	$ 111,817	$ 106,796	$ 99,695	504,921	439,003	386,292
Net investment income									44,835	43,005	45,373
Interest expense									6,999	6,347	6,777
Underwriting profit (loss) of operating segments									46,123	35,796	37,095
Segment goodwill	181,831				181,831				181,831	181,831	181,831
Segment assets	2,055,497				1,959,292				2,055,497	1,959,292	1,806,793
Reportable segments
Segment Reporting Information [Line Items]
Net investment income									44,835	43,005	45,373
Interest expense									6,999	6,347	6,777
Excess and Surplus Lines \| Reportable segments
Segment Reporting Information [Line Items]
Gross written premiums									308,717	252,707	192,394
Net earned premiums									240,878	195,786	141,826
Segment revenues									255,529	208,778	165,431
Net investment income									$ 13,427	$ 14,083	$ 15,489
Interest expense
Underwriting profit (loss) of operating segments									$ 47,607	$ 35,096	$ 43,523
Segment goodwill	181,831				181,831				181,831	181,831	181,831
Segment assets	$ 671,143				$ 684,838				671,143	684,838	651,249
Specialty Admitted Insurance \| Reportable segments
Segment Reporting Information [Line Items]
Gross written premiums									90,978	59,380	20,594
Net earned premiums									42,206	28,449	17,908
Segment revenues									44,791	30,896	21,582
Net investment income									$ 2,316	$ 2,320	$ 2,601
Interest expense
Underwriting profit (loss) of operating segments									$ 1,074	$ 33	$ (3,868)
Segment goodwill
Segment assets	$ 173,094				$ 124,503				$ 173,094	$ 124,503	$ 92,700
Casualty Reinsurance \| Reportable segments
Segment Reporting Information [Line Items]
Gross written premiums									172,499	206,680	155,530
Net earned premiums									178,121	171,977	168,344
Segment revenues									197,586	193,909	193,752
Net investment income									$ 22,706	$ 20,745	$ 21,907
Interest expense
Underwriting profit (loss) of operating segments									$ (2,558)	$ 667	$ (2,560)
Segment goodwill
Segment assets	$ 1,108,278				$ 1,035,084				$ 1,108,278	$ 1,035,084	$ 967,982
Corporate and Other \| Reportable segments
Segment Reporting Information [Line Items]
Gross written premiums
Net earned premiums
Segment revenues									$ 7,015	$ 5,420	$ 5,527
Net investment income									6,386	5,857	5,376
Interest expense									$ 6,999	$ 6,347	$ 6,777
Underwriting profit (loss) of operating segments
Segment goodwill
Segment assets	$ 102,982				$ 114,867				$ 102,982	$ 114,867	$ 94,862

Segment Information (Details 1)

Segment Information (Details 1) - USD ($)	12 Months Ended
Segment Information (Details 1) - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Underwriting profit (loss) of operating segments	$ 46,123,000	$ 35,796,000	$ 37,095,000
Other operating expenses	(18,554,000)	(9,124,000)	(8,307,000)
Net investment income	44,835,000	43,005,000	45,373,000
Net realized investment (losses) gains	(4,547,000)	(1,336,000)	12,619,000
Other income	3,428,000	1,122,000	222,000
Other expenses	(730,000)	(16,012,000)	(677,000)
Interest expense	(6,999,000)	(6,347,000)	(6,777,000)
Amortization of intangible assets	(597,000)	(597,000)	(2,470,000)
Income before income taxes	59,776,000	45,624,000	77,078,000
Excess and Surplus Lines
Segment Reporting Information [Line Items]
Amortization of intangible assets	(362,000)	(362,000)	(2,300,000)
Specialty Admitted Insurance
Segment Reporting Information [Line Items]
Amortization of intangible assets	(235,000)	(235,000)	(168,000)
Reportable segments
Segment Reporting Information [Line Items]
Underwriting profit (loss)	27,569,000	27,569,000	28,788,000
Net investment income	44,835,000	43,005,000	45,373,000
Net realized investment (losses) gains	(4,547,000)	(1,336,000)	12,619,000
Other income	245,000	239,000	222,000
Other expenses	(730,000)	(16,012,000)	(677,000)
Interest expense	(6,999,000)	(6,347,000)	(6,777,000)
Amortization of intangible assets	(597,000)	(597,000)	(2,470,000)
Income before income taxes	59,776,000	45,624,000	77,078,000
Reportable segments \| Excess and Surplus Lines
Segment Reporting Information [Line Items]
Underwriting profit (loss) of operating segments	47,607,000	35,096,000	43,523,000
Net investment income	$ 13,427,000	$ 14,083,000	$ 15,489,000
Interest expense
Reportable segments \| Specialty Admitted Insurance
Segment Reporting Information [Line Items]
Underwriting profit (loss) of operating segments	$ 1,074,000	$ 33,000	$ (3,868,000)
Net investment income	$ 2,316,000	$ 2,320,000	$ 2,601,000
Interest expense
Reportable segments \| Casualty Reinsurance
Segment Reporting Information [Line Items]
Underwriting profit (loss) of operating segments	$ (2,558,000)	$ 667,000	$ (2,560,000)
Net investment income	$ 22,706,000	$ 20,745,000	$ 21,907,000
Interest expense
Reportable segments \| Corporate and Other
Segment Reporting Information [Line Items]
Underwriting profit (loss) of operating segments
Other operating expenses	$ (18,554,000)	$ (9,124,000)	$ (8,307,000)
Net investment income	6,386,000	5,857,000	5,376,000
Interest expense	$ (6,999,000)	$ (6,347,000)	$ (6,777,000)

Segment Information (Details 2)

Segment Information (Details 2) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
Segment Information (Details 2) - USD ($) $ in Thousands	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Total gross written premiums	$ 108,689	$ 148,236	$ 184,011	$ 131,258	$ 103,151	$ 171,415	$ 96,960	$ 147,241	$ 572,194	$ 518,767	$ 368,518
Reportable segments \| Excess and Surplus Lines
Segment Reporting Information [Line Items]
Total gross written premiums									308,717	252,707	192,394
Reportable segments \| Excess and Surplus Lines \| Manufacturers and Contractors
Segment Reporting Information [Line Items]
Total gross written premiums									78,315	72,063	58,509
Reportable segments \| Excess and Surplus Lines \| Excess Casualty
Segment Reporting Information [Line Items]
Total gross written premiums									32,458	31,688	32,489
Reportable segments \| Excess and Surplus Lines \| Allied Health
Segment Reporting Information [Line Items]
Total gross written premiums									13,513	9,707	9,148
Reportable segments \| Excess and Surplus Lines \| General Casualty
Segment Reporting Information [Line Items]
Total gross written premiums									104,742	60,458	22,636
Reportable segments \| Excess and Surplus Lines \| Professional Liability
Segment Reporting Information [Line Items]
Total gross written premiums									10,046	10,784	10,695
Reportable segments \| Excess and Surplus Lines \| Energy
Segment Reporting Information [Line Items]
Total gross written premiums									30,623	28,980	21,400
Reportable segments \| Excess and Surplus Lines \| Excess Property
Segment Reporting Information [Line Items]
Total gross written premiums									12,498	11,795	10,988
Reportable segments \| Excess and Surplus Lines \| Medical Professionals
Segment Reporting Information [Line Items]
Total gross written premiums									3,585	3,922	4,492
Reportable segments \| Excess and Surplus Lines \| Life Sciences
Segment Reporting Information [Line Items]
Total gross written premiums									8,917	10,155	9,978
Reportable segments \| Excess and Surplus Lines \| Environmental
Segment Reporting Information [Line Items]
Total gross written premiums									4,437	3,431	2,557
Reportable segments \| Excess and Surplus Lines \| Sports and Entertainment
Segment Reporting Information [Line Items]
Total gross written premiums									2,667	2,753	3,189
Reportable segments \| Excess and Surplus Lines \| Small Business
Segment Reporting Information [Line Items]
Total gross written premiums									6,916	6,971	6,313
Reportable segments \| Specialty Admitted Insurance
Segment Reporting Information [Line Items]
Total gross written premiums									90,978	59,380	20,594
Reportable segments \| Casualty Reinsurance
Segment Reporting Information [Line Items]
Total gross written premiums									$ 172,499	$ 206,680	$ 155,530

Segment Information (Detail Tex

Segment Information (Detail Textuals)	3 Months Ended								12 Months Ended
Segment Information (Detail Textuals)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2015USD ($)SegmentUnderwriting_division	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| Segment									4
Net fee income									$ 3,200,000	$ 883,000	$ 0
Gross written premiums	$ 108,689,000	$ 148,236,000	$ 184,011,000	$ 131,258,000	$ 103,151,000	$ 171,415,000	$ 96,960,000	$ 147,241,000	$ 572,194,000	518,767,000	368,518,000
BB&T Insurance Services
Segment Reporting Information [Line Items]
Consolidated Gross Written Premiums Percentage									15.40%
Broker
Segment Reporting Information [Line Items]
Consolidated Gross Written Premiums Percentage									7.30%
Agency One
Segment Reporting Information [Line Items]
Consolidated Gross Written Premiums Percentage									2.70%
Agency Two
Segment Reporting Information [Line Items]
Consolidated Gross Written Premiums Percentage									2.50%
Atlantic Intermediaries
Segment Reporting Information [Line Items]
Consolidated Gross Written Premiums Percentage									14.80%
Broker two
Segment Reporting Information [Line Items]
Consolidated Gross Written Premiums Percentage									4.80%
State National Insurance Company
Segment Reporting Information [Line Items]
Consolidated Gross Written Premiums Percentage									13.90%
Unaffiliated ceding company two
Segment Reporting Information [Line Items]
Consolidated Gross Written Premiums Percentage									5.20%
Unaffiliated ceding company three
Segment Reporting Information [Line Items]
Consolidated Gross Written Premiums Percentage									4.30%
Unaffiliated ceding company four
Segment Reporting Information [Line Items]
Consolidated Gross Written Premiums Percentage									3.50%
Reportable segments
Segment Reporting Information [Line Items]
Number of underwriting divisions \| Underwriting_division									14
Reportable segments \| Excess and Surplus Lines
Segment Reporting Information [Line Items]
Number of underwriting divisions \| Underwriting_division									12
Gross written premiums									$ 308,717,000	252,707,000	192,394,000
Reportable segments \| Excess and Surplus Lines \| BB&T Insurance Services
Segment Reporting Information [Line Items]
Gross written premiums									$ 87,900,000
Gross Written Premiums Percentage									28.50%
Reportable segments \| Excess and Surplus Lines \| Broker
Segment Reporting Information [Line Items]
Gross written premiums									$ 42,000,000
Gross Written Premiums Percentage									13.60%
Reportable segments \| Specialty Admitted Insurance
Segment Reporting Information [Line Items]
Number of underwriting divisions \| Underwriting_division									1
Gross written premiums									$ 90,978,000	59,380,000	20,594,000
Reportable segments \| Specialty Admitted Insurance \| Agency One
Segment Reporting Information [Line Items]
Gross written premiums									$ 15,400,000
Gross Written Premiums Percentage									16.90%
Reportable segments \| Specialty Admitted Insurance \| Agency Two
Segment Reporting Information [Line Items]
Gross written premiums									$ 14,300,000
Gross Written Premiums Percentage									15.70%
Reportable segments \| Casualty Reinsurance
Segment Reporting Information [Line Items]
Number of underwriting divisions \| Underwriting_division									1
Gross written premiums									$ 172,499,000	$ 206,680,000	$ 155,530,000
Reportable segments \| Casualty Reinsurance \| Atlantic Intermediaries
Segment Reporting Information [Line Items]
Gross written premiums									$ 84,900,000
Gross Written Premiums Percentage									49.20%
Reportable segments \| Casualty Reinsurance \| Broker two
Segment Reporting Information [Line Items]
Gross written premiums									$ 27,400,000
Gross Written Premiums Percentage									15.90%
Reportable segments \| Casualty Reinsurance \| State National Insurance Company
Segment Reporting Information [Line Items]
Gross written premiums									$ 79,300,000
Gross Written Premiums Percentage									45.90%
Reportable segments \| Casualty Reinsurance \| Unaffiliated ceding company two
Segment Reporting Information [Line Items]
Gross written premiums									$ 29,900,000
Gross Written Premiums Percentage									17.30%
Reportable segments \| Casualty Reinsurance \| Unaffiliated ceding company three
Segment Reporting Information [Line Items]
Gross written premiums									$ 24,800,000
Gross Written Premiums Percentage									14.40%
Reportable segments \| Casualty Reinsurance \| Unaffiliated ceding company four
Segment Reporting Information [Line Items]
Gross written premiums									$ 20,200,000
Gross Written Premiums Percentage									11.70%

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	$ 973,771	$ 824,868
Trading:
Fixed maturity securities	5,046	7,388
Short-term investments	19,270	131,856
Fixed maturity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	899,660	756,963
State and municipal
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	103,457	99,046
Residential mortgage-backed
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	136,887	115,249
Corporate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	363,168	267,882
Commercial mortgage and asset-backed
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	130,696	113,341
Obligations of U.S. government corporations and agencies
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	90,163	101,275
U.S. Treasury securities and obligations guaranteed by the U.S. government
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	73,255	58,269
Redeemable preferred stock
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	2,034	1,901
Equity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	74,111	67,905
Recurring basis
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	973,771	824,868
Trading:
Fixed maturity securities	5,046	7,388
Short-term investments	19,270	131,856
Recurring basis \| Fixed maturity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	899,660	756,963
Recurring basis \| State and municipal
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	103,457	99,046
Recurring basis \| Residential mortgage-backed
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	136,887	115,249
Recurring basis \| Corporate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	363,168	267,882
Recurring basis \| Commercial mortgage and asset-backed
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	130,696	113,341
Recurring basis \| Obligations of U.S. government corporations and agencies
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	90,163	101,275
Recurring basis \| U.S. Treasury securities and obligations guaranteed by the U.S. government
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	73,255	58,269
Recurring basis \| Redeemable preferred stock
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	2,034	1,901
Recurring basis \| Equity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	74,111	67,905
Recurring basis \| Preferred stock
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	54,092	49,601
Recurring basis \| Common stock
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	20,019	18,304
Recurring basis \| Quoted Prices in Active Markets for Identical Assets Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	91,827	$ 74,461
Trading:
Fixed maturity securities	1,244
Short-term investments	2,926	$ 58,507
Recurring basis \| Quoted Prices in Active Markets for Identical Assets Level 1 \| Fixed maturity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	$ 72,542	$ 56,891
Recurring basis \| Quoted Prices in Active Markets for Identical Assets Level 1 \| State and municipal
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities
Recurring basis \| Quoted Prices in Active Markets for Identical Assets Level 1 \| Residential mortgage-backed
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities
Recurring basis \| Quoted Prices in Active Markets for Identical Assets Level 1 \| Corporate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities
Recurring basis \| Quoted Prices in Active Markets for Identical Assets Level 1 \| Commercial mortgage and asset-backed
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities
Recurring basis \| Quoted Prices in Active Markets for Identical Assets Level 1 \| Obligations of U.S. government corporations and agencies
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities
Recurring basis \| Quoted Prices in Active Markets for Identical Assets Level 1 \| U.S. Treasury securities and obligations guaranteed by the U.S. government
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	$ 72,542	$ 56,891
Recurring basis \| Quoted Prices in Active Markets for Identical Assets Level 1 \| Redeemable preferred stock
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities
Recurring basis \| Quoted Prices in Active Markets for Identical Assets Level 1 \| Equity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	$ 19,285	$ 17,570
Recurring basis \| Quoted Prices in Active Markets for Identical Assets Level 1 \| Preferred stock
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities
Recurring basis \| Quoted Prices in Active Markets for Identical Assets Level 1 \| Common stock
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	$ 19,285	$ 17,570
Recurring basis \| Significant Other Observable Inputs Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	876,944	750,407
Trading:
Fixed maturity securities	3,802	7,388
Short-term investments	16,344	73,349
Recurring basis \| Significant Other Observable Inputs Level 2 \| Fixed maturity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	822,118	700,072
Recurring basis \| Significant Other Observable Inputs Level 2 \| State and municipal
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	103,457	99,046
Recurring basis \| Significant Other Observable Inputs Level 2 \| Residential mortgage-backed
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	136,887	115,249
Recurring basis \| Significant Other Observable Inputs Level 2 \| Corporate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	363,168	267,882
Recurring basis \| Significant Other Observable Inputs Level 2 \| Commercial mortgage and asset-backed
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	125,696	113,341
Recurring basis \| Significant Other Observable Inputs Level 2 \| Obligations of U.S. government corporations and agencies
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	90,163	101,275
Recurring basis \| Significant Other Observable Inputs Level 2 \| U.S. Treasury securities and obligations guaranteed by the U.S. government
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	713	1,378
Recurring basis \| Significant Other Observable Inputs Level 2 \| Redeemable preferred stock
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	2,034	1,901
Recurring basis \| Significant Other Observable Inputs Level 2 \| Equity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	54,826	50,335
Recurring basis \| Significant Other Observable Inputs Level 2 \| Preferred stock
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	54,092	49,601
Recurring basis \| Significant Other Observable Inputs Level 2 \| Common stock
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	734	$ 734
Recurring basis \| Significant Unobservable Inputs Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	$ 5,000
Trading:
Fixed maturity securities
Short-term investments
Recurring basis \| Significant Unobservable Inputs Level 3 \| Fixed maturity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	$ 5,000
Recurring basis \| Significant Unobservable Inputs Level 3 \| State and municipal
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities
Recurring basis \| Significant Unobservable Inputs Level 3 \| Residential mortgage-backed
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities
Recurring basis \| Significant Unobservable Inputs Level 3 \| Corporate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities
Recurring basis \| Significant Unobservable Inputs Level 3 \| Commercial mortgage and asset-backed
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	$ 5,000
Recurring basis \| Significant Unobservable Inputs Level 3 \| Obligations of U.S. government corporations and agencies
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities
Recurring basis \| Significant Unobservable Inputs Level 3 \| U.S. Treasury securities and obligations guaranteed by the U.S. government
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities
Recurring basis \| Significant Unobservable Inputs Level 3 \| Redeemable preferred stock
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities
Recurring basis \| Significant Unobservable Inputs Level 3 \| Equity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities
Recurring basis \| Significant Unobservable Inputs Level 3 \| Preferred stock
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities
Recurring basis \| Significant Unobservable Inputs Level 3 \| Common stock
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities

Fair Value Measurements (Det108

Fair Value Measurements (Details 1) - Available-for-sale fixed maturity securities - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance
Transfers out of Level 3
Transfers in to Level 3
Purchases	$ 5,000
Sales
Amortization of discount
Total gains or losses (realized/unrealized) - Included in earnings
Total gains or losses (realized/unrealized) - Included in other comprehensive income
Ending balance	$ 5,000

Fair Value Measurements (Det109

Fair Value Measurements (Details 2) $ in Thousands	Dec. 31, 2015USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Bank loan participations held for investment	$ 2,300
Nonrecurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Bank loan participations held for investment	$ 2,342
Quoted Prices in Active Markets for Identical Assets Level 1 \| Nonrecurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Bank loan participations held for investment
Significant Other Observable Inputs Level 2 \| Nonrecurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Bank loan participations held for investment
Significant Unobservable Inputs Level 3 \| Nonrecurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Bank loan participations held for investment	$ 2,342

Fair Value Measurements (Det110

Fair Value Measurements (Details 3) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Available-for-sale:
Fixed maturity securities	$ 899,660	$ 756,963
Equity securities	74,111	67,905
Trading:
Bank loan participations held-for-investment	191,700	239,511
Cash and cash equivalents	106,406	73,383	$ 158,604	$ 95,794
Short-term investments	19,270	131,856
Liabilities
Senior debt	88,300	88,300
Carrying Value
Available-for-sale:
Fixed maturity securities	899,660	756,963
Equity securities	74,111	67,905
Trading:
Fixed maturity securities	5,046	7,388
Bank loan participations held-for-investment	191,700	239,511
Cash and cash equivalents	106,406	73,383
Short-term investments	19,270	131,856
Other invested assets - notes receivable	11,000	4,500
Liabilities
Senior debt	88,300	88,300
Junior subordinated debt	104,055	104,055
Fair Value
Available-for-sale:
Fixed maturity securities	899,660	756,963
Equity securities	74,111	67,905
Trading:
Fixed maturity securities	5,046	7,388
Bank loan participations held-for-investment	180,086	231,251
Cash and cash equivalents	106,406	73,383
Short-term investments	19,270	131,856
Other invested assets - notes receivable	12,548	6,410
Liabilities
Senior debt	79,539	79,850
Junior subordinated debt	$ 84,594	$ 89,100

Fair Value Measurements (Det111

Fair Value Measurements (Detail Textuals) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fair Value Disclosure [Line Items]
Available-for-sale Securities, Fair value	$ 973,771	$ 824,868
Impaired bank loan participations held for investment	2,300
Unpaid principal on bank loan participations for which external sources were unavailable to determine fair value	5,300	14,100
Carrying value of bank loan participations for which external sources were unavailable to determine fair value	4,600	$ 12,700
Market approach \| Level 3
Fair Value Disclosure [Line Items]
Available-for-sale Securities, Fair value	$ 5,000

Statutory Matters (Details)

Statutory Matters (Details) - USD ($) $ in Thousands	12 Months Ended
Statutory Matters (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statutory Matters [Abstract]
Statutory net income	$ 14,747	$ 14,872	$ 24,857
Statutory capital and surplus	176,884	207,813	208,369
Minimum required statutory capital and surplus	$ 25,000	$ 21,250	$ 21,250

Statutory Matters (Detail Textu

Statutory Matters (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Statutory Accounting Practices [Line Items]
Minimum statutory solvency margin	$ 25,000	$ 21,250	$ 21,250
Actual statutory capital and surplus	176,884	207,813	208,369
Statutory net income	14,747	14,872	24,857
Shareholders' equity	681,038	687,921	701,490	$ 784,040
JRG Re
Statutory Accounting Practices [Line Items]
Shareholders' equity	424,600
JRG Re \| BERMUDA
Statutory Accounting Practices [Line Items]
Minimum statutory solvency margin	73,700
Actual statutory capital and surplus	357,700
Statutory net income	$ 54,300	$ 35,000	$ 52,600
JRG Re \| Minimum \| BERMUDA
Statutory Accounting Practices [Line Items]
Minimum liquidity ratio	75.00%

Dividend Restrictions (Detail T

Dividend Restrictions (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Statutory Accounting Practices [Line Items]
Retained earnings	$ 47,026	$ 41,323
JRG Re
Statutory Accounting Practices [Line Items]
Dividend limitations percentage of statutory surplus	10.00%
Maximum amount of dividends available without regulatory approval	$ 19,800
Percentage of dividend distribution tax	30.00%
Maximum amount of dividends and return of capital available	$ 89,400
Percentage of dividend withholding tax for distributions	5.00%

Other Related Party Transact115

Other Related Party Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Related Party Transaction [Line Items]
Lease term (in years)	10 years
Increase in fixed annual rent	2.00%
Chairman of the Board and Chief Executive Officer
Related Party Transaction [Line Items]
Total fees paid for the use of plane	$ 211,000	$ 690,000	$ 228,000
Investment and other business consulting services fees	$ 150,000	$ 250,000	$ 256,000

Subsequent Events (Detail Textu

Subsequent Events (Detail Textuals) - $ / shares	1 Months Ended		12 Months Ended
Subsequent Events (Detail Textuals) - $ / shares	Feb. 16, 2016	Aug. 27, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Dividends Declared
Subsequent Event [Line Items]
Dividend payable, date declared		Aug. 27, 2014
Dividend per Common Share		$ 2.45	$ 1.64
Payable to Shareholders of Record on		Jun. 30, 2014
RSUs
Subsequent Event [Line Items]
Number of share based awards granted				340,474
Fair value on grant date				$ 21
Options
Subsequent Event [Line Items]
Number of stock options granted			10,627	993,518	50,000
Grant date exercise price			$ 24.32	$ 21	$ 16.83
Subsequent event \| Dividends Declared
Subsequent Event [Line Items]
Dividend payable, date declared	Feb. 16, 2016
Dividend per Common Share	$ 0.20
Dividend payable, date	Mar. 28, 2016
Payable to Shareholders of Record on	Mar. 14, 2016
Subsequent event \| RSUs \| 2014 LTIP
Subsequent Event [Line Items]
Number of share based awards granted	58,660
Fair value on grant date	$ 32.07
Subsequent event \| RSUs \| 2014 LTIP \| Minimum
Subsequent Event [Line Items]
Vesting period	1 year
Subsequent event \| RSUs \| 2014 LTIP \| Maximum
Subsequent Event [Line Items]
Vesting period	3 years
Subsequent event \| Options \| 2014 LTIP
Subsequent Event [Line Items]
Number of stock options granted	706,203
Grant date exercise price	$ 32.07
Vesting period	3 years

Unaudited Selected Quarterly117

Unaudited Selected Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Data [Abstract]
Gross written premiums	$ 108,689	$ 148,236	$ 184,011	$ 131,258	$ 103,151	$ 171,415	$ 96,960	$ 147,241	$ 572,194	$ 518,767	$ 368,518
Total revenues	125,104	133,123	120,227	126,467	120,695	111,817	106,796	99,695	504,921	439,003	386,292
Net income	12,670	18,961	12,489	9,377	8,866	17,168	9,513	9,138	53,497	44,685	67,337
Comprehensive income	$ 6,970	$ 20,547	$ (2,516)	$ 13,326	$ 12,937	$ 12,748	$ 15,244	$ 14,911	$ 38,327	$ 55,840	$ 28,092
Earnings per share:
Basic (in dollars per share)	$ 0.44	$ 0.66	$ 0.44	$ 0.33	$ 0.31	$ 0.6	$ 0.33	$ 0.32	$ 1.87	$ 1.57	$ 2.21
Diluted (in dollars per share)	$ 0.43	$ 0.64	$ 0.43	$ 0.32	$ 0.31	$ 0.6	$ 0.33	$ 0.32	$ 1.82	$ 1.55	$ 2.21

SCHEDULE I - Summary of Inve118

SCHEDULE I - Summary of Investments - Other than Investments in Related Parties (Details) $ in Thousands	Dec. 31, 2015USD ($)
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amount at which shown on Balance Sheet	$ 1,195,769	[1]
Bank loan participations, held-for-investment, net of allowance
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	191,700
Fair Value	180,086
Amount at which shown on Balance Sheet	191,700	[1]
Short-term investments
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	18,270
Fair Value	18,270
Amount at which shown on Balance Sheet	18,270	[1]
Other invested assets
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amount at which shown on Balance Sheet	15,349	[1]
Available-for-sale Securities \| Fixed maturity securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	897,445
Fair Value	899,660
Amount at which shown on Balance Sheet	899,660	[1]
Available-for-sale Securities \| State and municipal
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	95,864
Fair Value	103,457
Amount at which shown on Balance Sheet	103,457	[1]
Available-for-sale Securities \| Residential mortgage-backed
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	137,308
Fair Value	136,887
Amount at which shown on Balance Sheet	136,887	[1]
Available-for-sale Securities \| Corporate
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	368,961
Fair Value	363,168
Amount at which shown on Balance Sheet	363,168	[1]
Available-for-sale Securities \| Commercial mortgage and asset-backed
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	130,231
Fair Value	130,696
Amount at which shown on Balance Sheet	130,696	[1]
Available-for-sale Securities \| Obligations of U.S. government corporations and agencies
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	89,734
Fair Value	90,163
Amount at which shown on Balance Sheet	90,163	[1]
Available-for-sale Securities \| U.S. Treasury securities and obligations guaranteed by the U.S. government
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	73,322
Fair Value	73,255
Amount at which shown on Balance Sheet	73,255	[1]
Available-for-sale Securities \| Redeemable preferred stock
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	2,025
Fair Value	2,034
Amount at which shown on Balance Sheet	2,034	[1]
Available-for-sale Securities \| Equity securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	63,378
Fair Value	65,744
Amount at which shown on Balance Sheet	65,744	[1]
Available-for-sale Securities \| Preferred stock
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	50,631
Fair Value	54,092
Amount at which shown on Balance Sheet	54,092	[1]
Available-for-sale Securities \| Common stock
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	12,747
Fair Value	11,652
Amount at which shown on Balance Sheet	11,652	[1]
Trading Securities \| Fixed maturity securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Cost or Amortized Cost	5,053
Fair Value	5,046
Amount at which shown on Balance Sheet	$ 5,046	[1]

[1]	The Company owns investments in bridge loans for renewable energy projects. The notes, all with affiliates of the Company's largest shareholder, generally mature in less than one year and carry primarily variable rates of interest ranging from 7.3% to 15.0%. Original discounts and commitment fees received are recognized over the terms of the notes under the effective interest method. During the year ended December 31, 2015, the Company invested a total of $36.3 million in these notes and received maturities and repayments totaling $30.8 million.

SCHEDULE II - Condensed Fina119

SCHEDULE II - Condensed Financial Information of Registrant (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Assets [Abstract]
Cash and cash equivalents	$ 106,406	$ 73,383	$ 158,604	$ 95,794
Other assets	48,140	33,633
Total assets	2,055,497	1,959,292	1,806,793
Liabilities:
Accrued expenses	29,476	31,107
Senior debt	88,300	88,300
Junior subordinated debt	104,055	104,055
Other liabilities	46,335	34,762
Liabilities	$ 1,374,459	$ 1,271,371
Commitments and contingent liabilities
Shareholders' equity:
Class A common shares	$ 6	$ 6
Additional paid-in capital	630,820	628,236
Retained earnings	47,026	41,323
Accumulated other comprehensive income	3,186	18,356
Total shareholders' equity	681,038	687,921	701,490	784,040
Total liabilities and shareholders' equity	2,055,497	1,959,292
Parent Company
Assets [Abstract]
Cash and cash equivalents	1,976	623	$ 514	$ 893
Investment in subsidiaries	$ 891,627	893,365
Due from subsidiaries		247
Other assets	$ 2,152	2,450
Total assets	895,755	896,685
Liabilities:
Accrued expenses	3,243	4,473
Senior debt	73,300	73,300
Junior subordinated debt	15,928	15,928
Notes payable to subsidiary	100,000	100,000
Due to subsidiaries	20,541	14,884
Other liabilities	1,705	179
Liabilities	$ 214,717	$ 208,764
Commitments and contingent liabilities
Shareholders' equity:
Class A common shares	$ 6	$ 6
Additional paid-in capital	630,820	628,236
Retained earnings	47,026	41,323
Accumulated other comprehensive income	3,186	18,356
Total shareholders' equity	681,038	687,921
Total liabilities and shareholders' equity	$ 895,755	$ 896,685

SCHEDULE II - Condensed Fina120

SCHEDULE II - Condensed Financial Information of Registrant (Details 1) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues:
Other income									$ 3,428	$ 1,122	$ 222
Total revenues	$ 125,104	$ 133,123	$ 120,227	$ 126,467	$ 120,695	$ 111,817	$ 106,796	$ 99,695	504,921	439,003	386,292
Expenses:
Other operating expenses									157,803	133,055	114,804
Other expenses									730	16,012	677
Interest expense									6,999	6,347	6,777
Total expenses									445,145	393,379	309,214
Equity in net income of subsidiaries									2,468	5,163	4,620
Net income	12,670	18,961	12,489	9,377	8,866	17,168	9,513	9,138	53,497	44,685	67,337
Other comprehensive income:
Equity in other comprehensive (losses) earnings of subsidiaries									(15,170)	11,155	(39,245)
Total comprehensive income	$ 6,970	$ 20,547	$ (2,516)	$ 13,326	$ 12,937	$ 12,748	$ 15,244	$ 14,911	$ 38,327	55,840	28,092
Parent Company
Revenues:
Management Fees Revenue										2,600	$ 2,600
Other income									$ 40	40
Total revenues									40	2,640	$ 2,600
Expenses:
Other operating expenses									8,254	5,204	4,746
Other expenses									284	7,353	389
Interest expense									3,687	3,099	1,638
Total expenses									12,225	15,656	6,773
Loss before equity in net income of subsidiaries									(12,185)	(13,016)	(4,173)
Equity in net income of subsidiaries									65,682	57,701	71,510
Net income									53,497	44,685	67,337
Other comprehensive income:
Equity in other comprehensive (losses) earnings of subsidiaries									(15,170)	11,155	(39,245)
Total comprehensive income									$ 38,327	$ 55,840	$ 28,092

SCHEDULE II - Condensed Fina121

SCHEDULE II - Condensed Financial Information of Registrant (Details 2) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating activities
Net income	$ 12,670	$ 18,961	$ 12,489	$ 9,377	$ 8,866	$ 17,168	$ 9,513	$ 9,138	$ 53,497	$ 44,685	$ 67,337
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Provision for depreciation and amortization									2,004	2,760	3,567
Share based compensation expense									3,735	589	647
Equity in undistributed earnings of subsidiaries									(2,468)	(5,163)	(4,620)
Net cash (used in) provided by operating activities									116,391	130,393	105,638
Investing activities
Net cash provided by (used in) investing activities									(34,163)	(174,877)	46,755
Financing activities
Dividends paid									(47,405)	(69,998)
Senior debt issuance									10,000	30,300	43,000
Senior debt repayments									10,000		20,000
Issuances of common shares under equity incentive plans									1,730
Common share repurchases									(6,461)		(110,760)
Excess Tax Benefit from Share-based Compensation, Financing Activities									3,580
Net cash (used in) provided by financing activities									(49,205)	(40,737)	(89,583)
Change in cash and cash equivalents									33,023	(85,221)	62,810
Cash and cash equivalents at beginning of year				73,383				158,604	73,383	158,604	95,794
Cash and cash equivalents at end of year	106,406				73,383				106,406	73,383	158,604
Supplemental information
Interest paid									7,342	6,682	7,625
Parent Company
Operating activities
Net income									53,497	44,685	67,337
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Provision for depreciation and amortization									157	203	129
Share based compensation expense									3,735	589	647
Equity in undistributed earnings of subsidiaries									(65,682)	(57,701)	(71,510)
Changes in operating assets and liabilities:									5,952	12,443	2,213
Net cash (used in) provided by operating activities									(2,341)	219	$ (1,184)
Investing activities
Dividends from subsidiaries									$ 52,250	$ 50,000
Purchases of property and equipment											$ (3)
Net cash provided by (used in) investing activities									$ 52,250	$ 50,000	$ (3)
Financing activities
Dividends paid									$ (47,405)	$ (69,998)
Merger with subsidiary											$ 217
Senior debt issuance									$ 10,000	$ 30,300	$ 43,000
Senior debt repayments									$ 10,000
Subsidiary note issuance											$ 100,000
Subsidiary note repayment											(11,000)
Contribution to subsidiary										$ (10,000)	(20,000)
Debt issue costs paid										$ (412)	$ (649)
Issuances of common shares under equity incentive plans									$ 1,730
Common share repurchases									(6,461)		$ (110,760)
Excess Tax Benefit from Share-based Compensation, Financing Activities									3,580
Net cash (used in) provided by financing activities									(48,556)	$ (50,110)	$ 808
Change in cash and cash equivalents									1,353	109	(379)
Cash and cash equivalents at beginning of year				$ 623				$ 514	623	514	893
Cash and cash equivalents at end of year	$ 1,976				$ 623				1,976	623	514
Supplemental information
Interest paid									$ 4,337	$ 3,733	$ 1,970

SCHEDULE III - Supplementary122

SCHEDULE III - Supplementary Insurance Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Supplementary Insurance Information, by Segment [Line Items]
Deferred Policy Acquisition Costs	$ 60,754	$ 60,202	$ 46,204
Reserve for Losses and Loss Adjustment Expenses	785,322	716,296	646,452
Unearned Premiums	301,104	277,579	218,532
Net Earned Premiums	461,205	396,212	328,078
Net Investment Income	44,835	43,005	45,373
Losses and Loss Adjustment Expenses	279,016	237,368	184,486
Amortization of Policy Acquisition Costs	97,750	85,183	71,648
Other Operating Expenses	157,803	133,055	114,804
Net Written Premiums	471,032	450,083	325,166
Excess and Surplus Lines
Supplementary Insurance Information, by Segment [Line Items]
Deferred Policy Acquisition Costs	15,266	14,146	11,435
Reserve for Losses and Loss Adjustment Expenses	468,438	432,220	378,967
Unearned Premiums	114,369	100,554	89,630
Net Earned Premiums	240,878	195,786	141,826
Net Investment Income	13,427	14,083	15,489
Losses and Loss Adjustment Expenses	131,221	108,146	57,250
Amortization of Policy Acquisition Costs	42,069	33,464	23,518
Other Operating Expenses	65,233	53,427	41,053
Net Written Premiums	253,285	208,124	155,064
Specialty Admitted Insurance
Supplementary Insurance Information, by Segment [Line Items]
Deferred Policy Acquisition Costs	2,184	1,838	949
Reserve for Losses and Loss Adjustment Expenses	76,179	54,544	58,906
Unearned Premiums	40,622	25,295	7,500
Net Earned Premiums	42,206	28,449	17,908
Net Investment Income	2,316	2,320	2,601
Losses and Loss Adjustment Expenses	25,623	15,179	12,066
Amortization of Policy Acquisition Costs	4,455	3,306	2,212
Other Operating Expenses	15,509	13,237	9,710
Net Written Premiums	44,917	36,228	18,169
Casualty Reinsurance
Supplementary Insurance Information, by Segment [Line Items]
Deferred Policy Acquisition Costs	43,304	44,218	33,820
Reserve for Losses and Loss Adjustment Expenses	240,705	229,532	208,579
Unearned Premiums	146,113	151,730	121,402
Net Earned Premiums	178,121	171,977	168,344
Net Investment Income	22,706	20,745	21,907
Losses and Loss Adjustment Expenses	122,172	114,043	115,170
Amortization of Policy Acquisition Costs	51,226	48,413	45,918
Other Operating Expenses	58,507	57,267	55,734
Net Written Premiums	$ 172,830	$ 205,731	$ 151,933
Corporate and Other
Supplementary Insurance Information, by Segment [Line Items]
Deferred Policy Acquisition Costs
Reserve for Losses and Loss Adjustment Expenses
Unearned Premiums
Net Earned Premiums
Net Investment Income	$ 6,386	$ 5,857	$ 5,376
Losses and Loss Adjustment Expenses
Amortization of Policy Acquisition Costs
Other Operating Expenses	$ 18,554	$ 9,124	$ 8,307
Net Written Premiums

SCHEDULE IV - Reinsurance (Deta

SCHEDULE IV - Reinsurance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Direct Written Premiums	$ 395,816	$ 310,161	$ 211,607
Ceded to Other Companies Written Premiums	101,162	68,684	43,352
Assumed from Other Companies Written Premiums	176,378	208,606	156,911
Premiums Written, Net	$ 471,032	$ 450,083	$ 325,166
Percentage of Amount Assumed to Net	37.40%	46.30%	48.30%
Excess and Surplus Lines
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Direct Written Premiums	$ 308,713	$ 252,707	$ 192,394
Ceded to Other Companies Written Premiums	55,432	$ 44,583	$ 37,330
Assumed from Other Companies Written Premiums	4
Premiums Written, Net	$ 253,285	$ 208,124	$ 155,064
Percentage of Amount Assumed to Net
Specialty Admitted Insurance
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Direct Written Premiums	$ 87,103	$ 57,454	$ 19,213
Ceded to Other Companies Written Premiums	46,061	23,152	2,425
Assumed from Other Companies Written Premiums	3,875	1,926	1,381
Premiums Written, Net	$ 44,917	$ 36,228	$ 18,169
Percentage of Amount Assumed to Net	8.60%	5.30%	7.60%
Casualty Reinsurance
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Direct Written Premiums
Ceded to Other Companies Written Premiums	$ (331)	$ 949	$ 3,597
Assumed from Other Companies Written Premiums	172,499	206,680	155,530
Premiums Written, Net	$ 172,830	$ 205,731	$ 151,933
Percentage of Amount Assumed to Net	99.80%	100.50%	102.40%

SCHEDULE V - Valuation and Q124

SCHEDULE V - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 2,737	$ 1,943	$ 2,341
Additions Amounts Charged to Expense	4,957	1,564	580
Deductions Amounts Written Off or Disposals	(606)	(770)	(978)
Balance at End of Period	7,088	2,737	1,943
Allowance for Doubtful Accounts
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	1,985	1,701	2,220
Additions Amounts Charged to Expense	1,061	812	459
Deductions Amounts Written Off or Disposals	(268)	(528)	(978)
Balance at End of Period	2,778	1,985	1,701
Allowance for Credit Losses on Bank Loans
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	752	242	121
Additions Amounts Charged to Expense	3,896	752	$ 121
Deductions Amounts Written Off or Disposals	(338)	(242)
Balance at End of Period	$ 4,310	$ 752	$ 242

SCHEDULE VI - Supplementary 125

SCHEDULE VI - Supplementary Information Concerning Property Casualty Insurance Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Supplemental Information for Property, Casualty Insurance Underwriters [Abstract]
Deferred policy acquisition costs	$ 60,754	$ 60,202	$ 46,204
Reserve for losses and loss adjustment expenses	785,322	716,296	646,452
Unearned premiums	301,104	277,579	218,532
Net earned premiums	461,205	396,212	328,078
Net investment income	44,835	43,005	45,373
Current year - Losses and loss adjustment expenses incurred	295,334	264,786	221,938
Prior year - Losses and loss adjustment expenses incurred	(16,318)	(27,418)	(37,452)
Total losses and loss adjustment expenses incurred	279,016	237,368	184,486
Amortization of policy acquisition costs	97,750	85,183	71,648
Paid losses and loss adjustment expenses, net of reinsurance	214,524	175,311	191,410
Net written premiums	$ 471,032	$ 450,083	$ 325,166