James River (JRVR) 10-Q 5 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 03, 2017
Document And Entity Information [Abstract]
Entity Registrant Name	James River Group Holdings, Ltd.
Entity Central Index Key	1,620,459
Trading Symbol	jrvr
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		29,344,327
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,017

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Fixed maturity securities:
Available-for-sale, at fair value (amortized cost: 2017 - $938,362; 2016 - $940,212)	$ 941,687	$ 941,077
Trading, at fair value (amortized cost: 2017 - $5,052; 2016 - $5,052)	5,066	5,063
Equity securities available-for-sale, at fair value (cost: 2017 - $74,531; 2016 - $74,553)	79,467	76,401
Bank loan participations held-for-investment, at amortized cost, net of allowance	224,224	203,526
Short-term investments	53,361	50,844
Other invested assets	59,645	55,419
Total invested assets	1,363,450	1,332,330
Cash and cash equivalents	94,224	109,784
Accrued investment income	6,920	7,246
Premiums receivable and agents' balances, net	298,984	265,315
Reinsurance recoverable on unpaid losses	188,782	182,737
Reinsurance recoverable on paid losses	5,255	2,877
Prepaid reinsurance premiums	95,983	90,147
Deferred policy acquisition costs	63,964	64,789
Intangible assets, net	38,782	38,931
Goodwill	181,831	181,831
Other assets	73,150	70,546
Total assets	2,411,325	2,346,533
Liabilities:
Reserve for losses and loss adjustment expenses	980,563	943,865
Unearned premiums	400,181	390,563
Payables to reinsurers	43,207	39,899
Senior debt	88,300	88,300
Junior subordinated debt	104,055	104,055
Accrued expenses	34,030	36,884
Other liabilities	52,729	49,746
Total liabilities	1,703,065	1,653,312
Commitments and contingent liabilities
Shareholders' equity:
Common Shares - 2017 and 2016: $0.0002 par value; 200,000,000 shares authorized; 29,344,327 and 29,257,566 shares issued and outstanding, respectively	6	6
Preferred Shares - 2017 and 2016: $0.00125 par value; 20,000,000 shares authorized; no shares issued and outstanding
Additional paid-in capital	638,221	636,856
Retained earnings	64,872	55,232
Accumulated other comprehensive income	5,161	1,127
Total shareholders' equity	708,260	693,221
Total liabilities and shareholders' equity	$ 2,411,325	$ 2,346,533

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Available-for-sale debt securities, amortized cost (in dollars)	$ 938,362	$ 940,212
Trading securities, debt, amortized cost (in dollars)	5,052	5,052
Available-for-sale equity securities, amortized cost (in dollars)	$ 74,531	$ 74,553
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	29,344,327	29,257,566
Common stock, shares outstanding	29,344,327	29,257,566
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

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues
Gross written premiums	$ 224,179	$ 133,071
Ceded written premiums	(66,269)	(26,170)
Net written premiums	157,910	106,901
Change in net unearned premiums	(3,223)	10,229
Net earned premiums	154,687	117,130
Net investment income	16,733	11,272
Net realized investment gains (losses)	1,047	547
Other income	3,935	2,380
Total revenues	176,402	131,329
Expenses
Losses and loss adjustment expenses	105,369	73,506
Other operating expenses	48,893	41,179
Other expenses	(114)	(12)
Interest expense	2,123	2,174
Amortization of intangible assets	149	149
Total expenses	156,420	116,996
Income before taxes	19,982	14,333
Income tax expense	1,532	1,496
Net income	18,450	12,837
Other comprehensive income:
Net unrealized gains, net of taxes of $1,514 in 2017 and $657 in 2016	4,034	15,620
Total comprehensive income	$ 22,484	$ 28,457
Per share data:
Basic earnings per share (in dollars per share)	$ 0.63	$ 0.44
Diluted earnings per share (in dollars per share)	0.61	0.43
Dividend declared per share (in dollars per share)	$ 0.30	$ 0.20
Weighted-average common shares outstanding:
Basic (in shares)	29,289,588	28,953,008
Diluted (in shares)	30,327,423	29,742,252

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
Tax on net unrealized gains (losses)	$ 1,514	$ 657

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Shares	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income	Total
Balances at Dec. 31, 2015	$ 6	$ 630,820	$ 47,026	$ 3,186	$ 681,038
Balance (in shares) at Dec. 31, 2015	28,941,547
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Net income			12,837		12,837
Other comprehensive income				15,620	15,620
Dividends			(5,849)		(5,849)
Exercise of stock options		735			735
Exercise of stock options (in shares)	52,312
Compensation expense under stock incentive plans		1,189			1,189
Balances at Mar. 31, 2016	$ 6	632,744	54,014	18,806	705,570
Balance (in shares) at Mar. 31, 2016	28,993,859
Balances at Dec. 31, 2016	$ 6	636,856	55,232	1,127	$ 693,221
Balance (in shares) at Dec. 31, 2016	29,257,566				29,257,566
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Net income			18,450		$ 18,450
Other comprehensive income				4,034	4,034
Dividends			(8,810)		(8,810)
Exercise of stock options		198			198
Exercise of stock options (in shares)	63,467
Vesting of restricted share units		(627)			(627)
Vesting of restricted share units (in shares)	23,294
Compensation expense under stock incentive plans		1,794			1,794
Balances at Mar. 31, 2017	$ 6	$ 638,221	$ 64,872	$ 5,161	$ 708,260
Balance (in shares) at Mar. 31, 2017	29,344,327				29,344,327

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Operating activities
Net cash provided by operating activities	$ 16,112	$ 1,810
Securities available-for-sale:
Purchases - fixed maturity securities	(46,276)	(73,162)
Sales - fixed maturity securities	32,148	32,533
Maturities and calls - fixed maturity securities	15,406	28,085
Purchases - equity securities		(3,000)
Sales - equity securities	409
Bank loan participations:
Purchases	(75,983)	(14,100)
Sales	37,462	2,463
Maturities	18,840	17,580
Other invested assets:
Purchases	(250)	(375)
Return of Capital		849
Short-term investments, net	(2,517)	(529)
Securities receivable or payable, net	(336)	399
Purchases of property and equipment	(970)	(1,216)
Net cash used in investing activities	(22,067)	(10,473)
Financing activities
Dividends paid	(8,885)	(5,790)
Issuance of common shares under equity incentive plans	303	667
Common share repurchases	(732)	(224)
Repayments of financing obligations net of proceeds	(291)	(271)
Net cash used in financing activities	(9,605)	(5,618)
Change in cash and cash equivalents	(15,560)	(14,281)
Cash and cash equivalents at beginning of period	109,784	106,406
Cash and cash equivalents at end of period	94,224	92,125
Supplemental information
Interest paid	$ 2,101	$ 1,950

Accounting Policies

Accounting Policies	3 Months Ended
	Mar. 31, 2017
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.”). JRG Holdings 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 fronting and program business in late 2013. Falls Lake Fire and Casualty began 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 The accompanying condensed consolidated financial statements and notes have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and do not contain all of the information and footnotes required by U.S. GAAP for complete financial statements. The condensed consolidated financial statements include the results of the Company and its subsidiaries from their respective dates of inception or acquisition, as applicable. Readers are urged to review the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 for a more complete description of the Company’s business and accounting policies. In the opinion of management, all adjustments necessary for a fair presentation of the condensed consolidated financial statements have been included. Such adjustments consist only of normal recurring items. Interim results are not necessarily indicative of results of operations for the full year. The consolidated balance sheet as of December 31, 2016 was derived from the Company’s audited annual consolidated financial statements. Intercompany transactions and balances have been eliminated. Estimates and Assumptions Preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying disclosures. Those estimates are inherently subject to change, and actual results may ultimately differ from those estimates. 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 the 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 condensed 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 $31.1 million and $27.1 million as of March 31, 2017 and December 31, 2016, respectively, representing the Company’s maximum exposure to loss. Adopted Accounting Standards Effective January 1, 2017, the Company adopted Accounting Standards Update (“ASU”) 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting ASU also removes the requirement to delay recognition of a tax benefit until it reduces current taxes payable. Additionally, all tax related cash flows resulting from share-based payments are now reported as operating activities on the statement of cash flows, a change from the previous requirement to present tax benefits as an inflow from financing activities and an outflow from operating activities. For the three months ended March 31, 2016, net cash provided by operating activities increased by $292,000 and net cash used in financing activities was increased by $292,000 for the adoption of ASU 2016-09. The Company has elected to recognize forfeitures as they occur in accordance with ASU 2016-09. The adoption of ASU 2016-09 did not materially impact the Company’s consolidated income statements. Prospective Accounting Standards In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments

Investments

Investments	3 Months Ended
	Mar. 31, 2017
Investments [Abstract]
Investments	2. Investments The Company’s available-for-sale investments are summarized as follows: Cost or Gross Gross Fair (in thousands) March 31, 2017 Fixed maturity securities: State and municipal $ 107,019 $ 5,001 $ (811 ) $ 111,209 Residential mortgage-backed 145,415 1,037 (2,990 ) 143,462 Corporate 379,076 4,775 (3,750 ) 380,101 Commercial mortgage and asset-backed 172,092 819 (714 ) 172,197 Obligations of U.S. government corporations and agencies 62,493 191 (130 ) 62,554 U.S. Treasury securities and obligations guaranteed by the U.S. government 70,242 105 (179 ) 70,168 Redeemable preferred stock 2,025 — (29 ) 1,996 Total fixed maturity securities 938,362 11,928 (8,603 ) 941,687 Equity securities 74,531 6,240 (1,304 ) 79,467 Total investments available-for-sale $ 1,012,893 $ 18,168 $ (9,907 ) $ 1,021,154 December 31, 2016 Fixed maturity securities: State and municipal $ 101,793 $ 5,032 $ (984 ) $ 105,841 Residential mortgage-backed 152,703 1,070 (2,975 ) 150,798 Corporate 379,727 4,382 (5,661 ) 378,448 Commercial mortgage and asset-backed 167,967 906 (826 ) 168,047 Obligations of U.S. government corporations and agencies 64,823 276 (85 ) 65,014 U.S. Treasury securities and obligations guaranteed by the U.S. government 71,174 131 (185 ) 71,120 Redeemable preferred stock 2,025 — (216 ) 1,809 Total fixed maturity securities 940,212 11,797 (10,932 ) 941,077 Equity securities 74,553 4,503 (2,655 ) 76,401 Total investments available-for-sale $ 1,014,765 $ 16,300 $ (13,587 ) $ 1,017,478 The amortized cost and fair value of available-for-sale investments in fixed maturity securities at March 31, 2017 are summarized, by contractual maturity, as follows: Cost or Fair (in thousands) One year or less $ 98,952 $ 99,404 After one year through five years 232,153 233,770 After five years through ten years 172,470 171,838 After ten years 115,255 119,020 Residential mortgage-backed 145,415 143,462 Commercial mortgage and asset-backed 172,092 172,197 Redeemable preferred stock 2,025 1,996 Total $ 938,362 $ 941,687 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) March 31, 2017 Fixed maturity securities: State and municipal $ 28,964 $ (811 ) $ — $ — $ 28,964 $ (811 ) Residential mortgage-backed 87,741 (1,545 ) 31,113 (1,445 ) 118,854 (2,990 ) Corporate 156,461 (3,519 ) 3,402 (231 ) 159,863 (3,750 ) Commercial mortgage and asset-backed 52,815 (713 ) 4,749 (1 ) 57,564 (714 ) Obligations of U.S. government corporations and agencies 52,142 (130 ) — — 52,142 (130 ) U.S. Treasury securities and obligations guaranteed by the U.S. government 51,941 (179 ) — — 51,941 (179 ) Redeemable preferred stock 1,996 (29 ) — — 1,996 (29 ) Total fixed maturity securities 432,060 (6,926 ) 39,264 (1,677 ) 471,324 (8,603 ) Equity securities 9,667 (161 ) 6,999 (1,143 ) 16,666 (1,304 ) Total investments available-for-sale $ 441,727 $ (7,087 ) $ 46,263 $ (2,820 ) $ 487,990 $ (9,907 ) December 31, 2016 Fixed maturity securities: State and municipal $ 28,398 $ (984 ) $ — $ — $ 28,398 $ (984 ) Residential mortgage-backed 93,242 (1,548 ) 32,330 (1,427 ) 125,572 (2,975 ) Corporate 199,841 (4,212 ) 8,477 (1,449 ) 208,318 (5,661 ) Commercial mortgage and asset-backed 47,990 (799 ) 7,195 (27 ) 55,185 (826 ) Obligations of U.S. government corporations and agencies 50,573 (85 ) — — 50,573 (85 ) U.S. Treasury securities and obligations guaranteed by the U.S. government 48,989 (185 ) — — 48,989 (185 ) Redeemable preferred stock 1,809 (216 ) — — 1,809 (216 ) Total fixed maturity securities 470,842 (8,029 ) 48,002 (2,903 ) 518,844 (10,932 ) Equity securities 21,345 (1,071 ) 6,558 (1,584 ) 27,903 (2,655 ) Total investments available-for-sale $ 492,187 $ (9,100 ) $ 54,560 $ (4,487 ) $ 546,747 $ (13,587 ) The Company held securities of 156 issuers that were in an unrealized loss position at March 31, 2017 with a total fair value of $488.0 million and gross unrealized losses of $9.9 million. None of the fixed maturity securities with unrealized losses has ever missed, or been delinquent on, a scheduled principal or interest payment. At March 31, 2017, 99.4% of the Company’s fixed maturity security portfolio was rated “BBB-” or better (“investment grade”) 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 March 31, 2017 had an aggregate fair value of $5.6 million and an aggregate net unrealized gain of $254,000. Management concluded that none of the fixed maturity securities with an unrealized loss at March 31, 2017 or December 31, 2016 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 March 31, 2017 or December 31, 2016 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. At March 31, 2017, the Company held a participation in a loan issued by a company that produces and supplies power to Puerto Rico through a power purchase agreement 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 company’s ability to meet the debt obligations held by the Company. Management concluded that the loan was impaired. At March 31, 2017, the loan had a carrying value of $1.4 million, unpaid principal of $1.6 million, and an allowance for credit losses of $146,000. At December 31, 2016, the loan had a carrying value of $1.7 million, unpaid principal of $2.0 million, and an allowance for credit losses of $177,000. The Company’s bank loan portfolio includes loans to oil and gas companies in the energy sector. The market values of these loans have been impacted by declining energy prices. At March 31, 2017, the Company’s oil and gas exposure in the bank loan portfolio was in four loans with a carrying value of $9.9 million and an unrealized loss of $1.4 million. All of the loans were current at March 31, 2017. Management concluded that two of these loans were impaired as of March 31, 2017. At March 31, 2017, the two impaired loans had a carrying value of $2.0 million, unpaid principal of $2.5 million and an allowance for credit losses of $411,000. At December 31, 2016, one loan was impaired with a carrying value of $1.6 million, unpaid principal of $2.2 million and an allowance for credit losses of $545,000. Management also concluded that one non-energy sector loan was impaired at March 31, 2017. The loan had a carrying value of $630,000, unpaid principal of $712,000, and an allowance for credit losses of $82,000. At December 31, 2016, three non-energy sector loans were impaired with a total carrying value of $3.2 million, unpaid principal of $3.5 million, and an allowance for credit losses of $221,000. The aggregate allowance for credit losses was $639,000 at March 31, 2017 on impaired loans from four issuers with a total carrying value of $4.0 million and unpaid principal of $4.8 million. At December 31, 2016, the aggregate allowance for credit losses was $943,000 on impaired loans from five issuers with a total carrying value of $6.5 million and unpaid principal of $7.6 million. The aggregate allowance for credit losses on impaired loans was $4.6 million at March 31, 2016 and $4.3 million at December 31, 2015. 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 March 31, 2017 or December 31, 2016. 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 a of the Company’s independent 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 $5.3 million and $5.9 million during the three months ended March 31, 2017 and 2016, respectively. Investment income of $84,000 and $71,000, respectively, was recognized during the time within those periods that the loans were impaired. The Company recorded net realized investment gains of $177,000 and net realized investment losses of $304,000 in the three months ended March 31, 2017 and 2016, respectively, for changes in the fair value of impaired bank loans. 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 three months ended March 31, 2017 includes $3,000 of net trading gains, all of which relates to securities still held at March 31, 2017. The Company’s realized gains and losses are summarized as follows: Three Months Ended March 31, 2017 2016 (in thousands) Fixed maturity securities: Gross realized gains $ 338 $ 842 Gross realized losses (296 ) (1 ) 42 841 Bank loan participations: Gross realized gains 1,136 60 Gross realized losses (539 ) (352 ) 597 (292 ) Equity securities: Gross realized gains 409 – Gross realized losses – – 409 – Short-term investments and other: Gross realized gains – – Gross realized losses (1 ) (2 ) (1 ) (2 ) Total $ 1,047 $ 547 Realized investment gains or losses are determined on a specific identification basis. 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 Three Months Ended March 31, December 31, March 31, 2017 2016 2017 2016 (in thousands) Renewable energy LLCs (a) $ 31,074 $ 27,067 $ 5,594 $ 681 Renewable energy bridge financing notes ( b) – – – 244 Limited partnerships (c) 24,071 23,852 382 156 Bank holding companies (d) 4,500 4,500 86 86 Total other invested assets $ 59,645 $ 55,419 $ 6,062 $ 1,167 (a) The Company’s Corporate and Other segment owns equity interests ranging from 2.6% to 32.8% 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 $1.6 million and $1.5 million for the three months ended March 31, 2017 and 2016, respectively. (b) The Company has held investments in bridge financing notes for renewable energy projects. The notes, all with affiliates of the Company’s largest shareholder, generally matured in less than one year and carried primarily variable rates of interest ranging from 7.0% to 15.0%. O (c) The Company owns investments in limited partnerships that invest in concentrated portfolios of publicly-traded small cap equities, loans of middle market private equity sponsored companies, and equity tranches of collateralized loan obligations (CLOs). Income f (d) The Company holds $4.5 million of subordinated notes issued by a 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 $86,000 in both three months ended March 31, 2017 and 2016. The Company’s Chairman and Chief Executive Officer was previously the Lead Independent Director of the bank holding company and an investor in the bank holding company. Additionally, one of the Company’s directors was an investor in the bank holding company and is currently a lender to the bank holding company. At March 31, 2017, the Company held an investment in a collateralized loan obligation (CLO) where one of the underlying loans was issued by the bank holding company. The investment, with a carrying value of $5.0 million at March 31, 2017, is classified as an available-for-sale fixed maturity. The Company has held common shares of the bank holding company. Realized investments gains of $409,000 were recognized in the three months ended March 31, 2017 related to shares of the bank holding company. Income of $199,000 was recognized on the shares for the three months ended March 31, 2016. The Company holds a $1.0 million certificate of deposit issued by the bank holding company. The certificate of deposit, which matures on December 19, 2017, is carried as a short-term investment. Interest income of $1,000 was recognized on this investment for both the three months ended March 31, 2017 and 2016.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	3. 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. Goodwill resulting from the Merger was $181.8 million at March 31, 2017 and December 31, 2016. The gross carrying amounts and accumulated amortization for each major specifically identifiable intangible asset class were as follows: March 31, 2017 December 31, 2016 Life (Years) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization ($ in thousands) Intangible Assets 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 4,193 11,611 4,044 Identifiable intangible assets subject to amortization 11,611 4,193 11,611 4,044 $ 42,975 $ 4,193 $ 42,975 $ 4,044

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Earnings Per Share	4. Earnings Per Share The following represents a reconciliation of the numerator and denominator of the basic and diluted earnings per share computations contained in the condensed consolidated financial statements: Income Weighted-Average Common Shares (Denominator) Earnings Per Share (in thousands, except per share data) Three months ended March 31, 2017 Basic $ 18,450 29,289,588 $ 0.63 Common share equivalents – 1,037,835 (0.02 ) Diluted $ 18,450 30,327,423 $ 0.61 Three months ended March 31, 2016 Basic $ 12,837 28,953,008 $ 0.44 Common share equivalents – 789,244 (0.01 ) Diluted $ 12,837 29,742,252 $ 0.43 Common share equivalents relate to stock options and restricted share units (“RSU’s”). For the three months ended March 31, 2017, common share equivalents of 97,755 shares were excluded from the calculations of diluted earnings per share as their effects were anti-dilutive. For the three months ended March 31, 2016, all common share equivalents were dilutive.

Reserve for Losses and Loss Adj

Reserve for Losses and Loss Adjustment Expenses	3 Months Ended
	Mar. 31, 2017
Liability for Claims and Claims Adjustment Expense [Abstract]
Reserve for Losses and Loss Adjustment Expenses	5. 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 condensed consolidated balance sheets: Three Months Ended 2017 2016 (in thousands) Reserve for losses and loss adjustment expenses net of reinsurance recoverables at beginning of period $ 761,128 $ 653,534 Add: Incurred losses and loss adjustment expenses net of reinsurance: Current year 108,783 78,173 Prior years (3,414 ) (4,667 ) Total incurred losses and loss and adjustment expenses 105,369 73,506 Deduct: Loss and loss adjustment expense payments net of reinsurance: Current year 3,698 1,944 Prior years 71,018 52,508 Total loss and loss adjustment expense payments 74,716 54,452 Reserve for losses and loss adjustment expenses net of reinsurance recoverables at end of period 791,781 672,588 Add: Reinsurance recoverables on unpaid losses and loss adjustment expenses at end of period 188,782 141,739 Reserve for losses and loss adjustment expenses gross of reinsurance recoverables on unpaid losses and loss adjustment expenses at end of period $ 980,563 $ 814,327 The Company experienced $3.4 million of favorable reserve development in the three months ended March 31, 2017 on the reserve for losses and loss adjustment expenses held at December 31, 2016. This reserve development included $3.2 million of favorable development in the Excess and Surplus Lines segment, primarily from the 2016 and 2014 accident years which were partially offset by unfavorable development in the 2006 accident year. This favorable development occurred because our actuarial studies at March 31, 2017 for the Excess and Surplus Lines segment indicated that our loss experience on our casualty business continues to be below our initial expected loss ratios. An additional $42,000 of favorable development occurred in the Specialty Admitted Insurance segment, as favorable development in the 2015, 2014 and prior accident years slightly exceeded adverse development in the 2016 accident year. The Company also experienced $145,000 of favorable development for the Casualty Reinsurance segment. The Company experienced $4.7 million of favorable reserve development in the three months ended March 31, 2016 on the reserve for losses and loss adjustment expenses held at December 31, 2015. This reserve development included $4.4 million of favorable development in the Excess and Surplus Lines segment, primarily from the 2013, 2014, and 2015 accident years which were offset partially by unfavorable development in the 2012 accident year. This favorable development occurred because our actuarial studies at March 31, 2016 for the Excess and Surplus Lines segment indicated that our loss experience on our casualty business continues to be below our initial expected loss ratios. An additional $311,000 of favorable development occurred in the Specialty Admitted Insurance segment, as favorable development in the 2012 and 2013 accident years exceeded adverse development in the 2014 accident year. The Company also experienced $37,000 of adverse development for the Casualty Reinsurance segment.

Other Comprehensive Income

Other Comprehensive Income	3 Months Ended
	Mar. 31, 2017
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Other Comprehensive Income	6. Other Comprehensive Income The following table summarizes the components of comprehensive income: Three Months Ended March 31, 2017 2016 (in thousands) Unrealized gains arising during the period, before U.S. income taxes $ 5,998 $ 17,118 U.S. income taxes (1,636 ) (930 ) Unrealized gains arising during the period, net of U.S. income taxes 4,362 16,188 Less reclassification adjustment: Net realized investment gains 450 841 U.S. income tax expenses (122 ) (273 ) Reclassification adjustment for investment gains realized in net income 328 568 Other comprehensive income $ 4,034 $ 15,620

Contingent Liabilities

Contingent Liabilities	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Contingent Liabilities	7. 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’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, $87.0 million of letters of credit were issued through March 31, 2017 which were secured by deposits of $103.6 million. Under a $102.5 million facility, $45.2 million of letters of credit were issued through March 31, 2017 which were secured by deposits of $63.1 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 $249.0 million at March 31, 2017.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Segment Information	8. Segment Information The Company has four reportable segments: the Excess and Surplus Lines segment, the Specialty Admitted Insurance segment, the Casualty Reinsurance segment, and the Corporate and Other segment. Segment profit (loss) is measured by underwriting profit (loss), which is generally defined as net earned premiums less loss and loss adjustment expenses and other operating expenses of the operating segments. Fee income and expenses of the Excess and Surplus Lines segment is included in that segment’s underwriting profit. Fee income of $3.8 million and $2.3 million was included in underwriting profit for the three months ended March 31, 2017 and 2016, respectively. Segment results are reported prior to the effects of intercompany reinsurance agreements among the Company’s insurance subsidiaries. The following table summarizes the Company’s segment results: Excess and Specialty Casualty Corporate Total (in thousands) Three Months Ended March 31, 2017 Gross written premiums $ 108,995 $ 72,464 $ 42,720 $ – $ 224,179 Net earned premiums 93,849 16,253 44,585 – 154,687 Underwriting profit of insurance segments 8,800 842 1,093 – 10,735 Net investment income 3,183 636 7,124 5,790 16,733 Interest expense – – – 2,123 2,123 Segment revenues 101,090 16,924 52,146 6,242 176,402 Segment goodwill 181,831 – – – 181,831 Segment assets 749,617 335,806 1,211,896 114,006 2,411,325 Three Months Ended March 31, 2016 Gross written premiums $ 82,108 $ 28,687 $ 22,276 $ – $ 133,071 Net earned premiums 65,505 11,405 40,220 – 117,130 Underwriting profit of insurance segments 9,204 475 334 – 10,013 Net investment income 3,286 611 6,227 1,148 11,272 Interest expense – – – 2,174 2,174 Segment revenues 71,790 12,047 46,308 1,184 131,329 Segment goodwill 181,831 – – – 181,831 Segment assets 692,517 190,515 1,121,576 97,469 2,102,077 The following table reconciles the underwriting profit of the operating segments by individual segment to consolidated income before taxes: Three Months Ended March 31, 2017 2016 (in thousands) Underwriting profit of the insurance segments: Excess and Surplus Lines $ 8,800 $ 9,204 Specialty Admitted Insurance 842 475 Casualty Reinsurance 1,093 334 Total underwriting profit of insurance segments 10,735 10,013 Other operating expenses of the Corporate and Other segment (6,461 ) (5,252 ) Underwriting profit 4,274 4,761 Net investment income 16,733 11,272 Net realized investment gains 1,047 547 Amortization of intangible assets (149 ) (149 ) Other income and expenses 200 76 Interest expense (2,123 ) (2,174 ) Income before taxes $ 19,982 $ 14,333

Other Operating Expenses

Other Operating Expenses	3 Months Ended
	Mar. 31, 2017
Other Operating Expenses And Other Expenses [Abstract]
Other Operating Expenses	9. Other Operating Expenses Other operating expenses consist of the following: Three Months Ended March 31, 2017 2016 (in thousands) Amortization of policy acquisition costs $ 27,638 $ 23,081 Other underwriting expenses of the operating segments 14,794 12,846 Other operating expenses of the Corporate and Other segment 6,461 5,252 Total $ 48,893 $ 41,179

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	10. 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, 2015. 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 its 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 March 31, 2017 are summarized below: Fair Value Measurements Using Quoted Prices Significant Significant Level 1 Level 2 Level 3 Total (in thousands) Available-for-sale securities: Fixed maturity securities: State and municipal $ – $ 111,209 $ – $ 111,209 Residential mortgage-backed – 143,462 – 143,462 Corporate – 380,101 – 380,101 Commercial mortgage and asset-backed – 167,197 5,000 172,197 Obligations of U.S. government corporations and agencies – 62,554 – 62,554 U.S. Treasury securities and obligations guaranteed by the U.S. government 69,541 627 – 70,168 Redeemable preferred stock – 1,996 – 1,996 Total fixed maturity securities 69,541 867,146 5,000 941,687 Equity securities: Preferred stock – 67,104 – 67,104 Common stock 11,629 734 – 12,363 Total equity securities 11,629 67,838 – 79,467 Total available-for-sale securities $ 81,170 $ 934,984 $ 5,000 $ 1,021,154 Trading securities: Fixed maturity securities $ 1,250 $ 3,816 $ – $ 5,066 Short-term investments $ 1,000 $ 52,361 $ – $ 53,361 Assets measured at fair value on a recurring basis as of December 31, 2016 are summarized below: Fair Value Measurements Using Quoted Prices Significant Significant Level 1 Level 2 Level 3 Total (in thousands) Available-for-sale securities: Fixed maturity securities: State and municipal $ – $ 105,841 $ – $ 105,841 Residential mortgage-backed – 150,798 – 150,798 Corporate – 378,448 – 378,448 Commercial mortgage and – 163,047 5,000 168,047 Obligations of U.S. government corporations and agencies – 65,014 – 65,014 U.S. Treasury securities and obligations guaranteed by the U.S. government 70,465 655 – 71,120 Redeemable preferred stock – 1,809 – 1,809 Total fixed maturity securities 70,465 865,612 5,000 941,077 Equity securities: Preferred stock – 64,827 – 64,827 Common stock 10,840 734 – 11,574 Total equity securities 10,840 65,561 – 76,401 Total available-for-sale securities $ 81,305 $ 931,173 $ 5,000 $ 1,017,478 Trading securities: Fixed maturity securities $ 1,250 $ 3,813 $ – $ 5,063 Short-term investments $ 1,100 $ 49,744 $ – $ 50,844 The beginning and ending balances of assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) consist of one available-for-sale fixed maturity security with a fair value of $5.0 million, and there was no activity (purchases, sales, transfers) involving Level 3 securities for the three months ended March 31, 2017 and 2016. A market approach using prices in trades of comparable securities was utilized to determine the fair value for this security at March 31, 2017 and December 31, 2016. Transfers out of Level 3 occur when the Company is able to obtain reliable prices from pricing vendors for securities 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 to value the securities. There were no transfers between Level 1 and Level 2 during the three months ended March 31, 2017 or 2016. 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 three months ended March 31, 2017 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 March 31, 2017. 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 In Active Markets for Identical Assets Level 1 Significant Other Observable Inputs Level 2 Significant Unobservable Inputs Level 3 Total (in thousands) March 31, 2017 Bank loan participations held-for-investment $ – $ – $ 2,668 $ 2,668 December 31, 2016 Bank loan participations held-for-investment $ – $ – $ 4,849 $ 4,849 Bank loan participations held-for-investment that were determined to be impaired were written down to their fair value of $2.7 million at March 31, 2017 and $4.8 million at December 31, 2016. 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 March 31, 2017, there were bank loan participations with an unpaid principal balance of $1.8 million and a carrying value of $1.6 million for which external sources were unavailable to determine fair value. At December 31, 2016, there were bank loan participations with an unpaid principal balance of $2.3 million and a carrying value of $2.0 million for which external sources were unavailable to determine fair value. The carrying values and fair values of financial instruments are summarized below: March 31, 2017 December 31, 2016 Carrying Fair Value Carrying Fair Value (in thousands) Assets Available-for-sale: Fixed maturity securities $ 941,687 $ 941,687 $ 941,077 $ 941,077 Equity securities 79,467 79,467 76,401 76,401 Trading: Fixed maturity securities 5,066 5,066 5,063 5,063 Bank loan participations held-for-investment 224,224 223,676 203,526 203,123 Cash and cash equivalents 94,224 94,224 109,784 109,784 Short-term investments 53,361 53,361 50,844 50,844 Other invested assets – notes receivable 4,500 5,922 4,500 6,008 Liabilities Senior debt 88,300 84,440 88,300 85,404 Junior subordinated debt 104,055 102,681 104,055 99,397 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 March 31, 2017 and December 31, 2016 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 March 31, 2017 and December 31, 2016, respectively. The fair values of bank loan participations held-for-investment, senior debt, and junior subordinated debt at March 31, 2017 and December 31, 2016 were determined using inputs to the valuation methodology that are unobservable (Level 3).

Capital Stock and Equity Awards

Capital Stock and Equity Awards	3 Months Ended
	Mar. 31, 2017
Stockholders' Equity Note [Abstract]
Capital Stock and Equity Awards	11. Capital Stock and Equity Awards The Company issued 86,761 common shares in the first quarter of 2017 with 63,467 new shares related to stock option exercises and 23,294 new shares related to RSUs that vested in the first quarter. The total common shares outstanding increased from 29,257,566 at December 31, 2016 to 29,344,327 at March 31, 2017. On February 14, 2017, the Board of Directors declared a cash dividend of $0.30 per common share. The dividend totaled $8.9 million and was paid on March 31, 2017 to shareholders of record on March 13, 2017. On February 16, 2016, the Board of Directors declared a cash dividend of $0.20 per common share. The dividend totaled $5.8 million and was paid on March 28, 2016 to shareholders of record on March 14, 2016. 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 under such plan. 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 March 31, 2017, 876,309 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 March 31, 2017, 32,994 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) following a Change in Control as defined in the applicable plans. The Board of Directors has granted awards under the 2014 LTIP and 2014 Director Plan to the Company’s employees and directors. On February 14, 2017, non-qualified stock options for 195,509 shares were granted with an exercise price of $42.17 per share and a three year vesting period. RSUs for 117,879 shares were also awarded with a fair value on the date of grant of $42.17 per share. On February 16, 2016, non-qualified stock options for 706,203 shares were granted with an exercise price of $32.07 per share and a three year vesting period. RSUs for 58,663 shares were also awarded with a fair value on the date of grant of $32.07 per share. RSUs vest over one to three year periods, depending on the award. Options The following table summarizes the option activity: Three Months Ended March 31, 2017 2016 Shares Weighted- Shares Weighted- Outstanding: Beginning of period 2,234,699 $ 22.84 2,058,085 $ 18.11 Granted 195,509 $ 42.17 706,203 $ 32.07 Exercised (97,211 ) $ 17.23 (80,616 ) $ 16.52 Forfeited (50,062 ) $ 27.97 (3,362 ) $ 21.00 End of period 2,282,935 $ 24.62 2,680,310 $ 21.83 Exercisable, end of period 1,334,756 $ 20.47 1,165,401 $ 16.81 RSUs The following table summarizes the RSU activity for the three months ended March 31, 2017 and 2016: Shares Weighted- March 31, 2017 Unvested, beginning of period 196,800 $ 24.38 Granted 117,879 $ 42.17 Vested (37,485 ) $ 32.07 Forfeited (19,743 ) $ 24.06 Unvested, end of period 257,451 $ 31.43 March 31, 2016 Unvested, beginning of period 234,922 $ 21.00 Granted 58,663 $ 32.07 Unvested, end of period 293,585 $ 23.21 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: Three Months Ended March 31, 2017 2016 (in thousands) Share based compensation expense $ 1,794 $ 1,189 U.S. tax benefit on share based compensation expense 469 336 As of March 31, 2017, the Company had $12.1 million of unrecognized share based compensation expense expected to be charged to earnings over a weighted-average period of 2.2 years. The weighted-average remaining contractual life of the options outstanding and options exercisable was 4.6 years and 3.8 years, respectively.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2017
Subsequent Events [Abstract]
Subsequent Events	12. Subsequent Events On May 2, 2017, the Board of Directors declared a cash dividend of $0.30 per common share. The dividend is payable on June 30, 2017 to shareholders of record on June 12, 2017. On May 2, 2017, the Company’s shareholders approved an amendment to the 2014 LTIP to increase the number of common shares authorized for issuance by 1,000,000, with only 500,000 of such additional shares to be available for issuance as awards that are not share appreciation rights or share option awards.

Accounting Policies (Policies)

Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements and notes have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and do not contain all of the information and footnotes required by U.S. GAAP for complete financial statements. The condensed consolidated financial statements include the results of the Company and its subsidiaries from their respective dates of inception or acquisition, as applicable. Readers are urged to review the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 for a more complete description of the Company’s business and accounting policies. In the opinion of management, all adjustments necessary for a fair presentation of the condensed consolidated financial statements have been included. Such adjustments consist only of normal recurring items. Interim results are not necessarily indicative of results of operations for the full year. The consolidated balance sheet as of December 31, 2016 was derived from the Company’s audited annual consolidated financial statements. Intercompany transactions and balances have been eliminated.
Estimates and Assumptions	Estimates and Assumptions Preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying disclosures. Those estimates are inherently subject to change, and actual results may ultimately differ from those estimates.
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 the 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 condensed 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 $31.1 million and $27.1 million as of March 31, 2017 and December 31, 2016, respectively, representing the Company’s maximum exposure to loss.
Adopted Accounting Standards	Adopted Accounting Standards Effective January 1, 2017, the Company adopted Accounting Standards Update (“ASU”) 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting ASU also removes the requirement to delay recognition of a tax benefit until it reduces current taxes payable. Additionally, all tax related cash flows resulting from share-based payments are now reported as operating activities on the statement of cash flows, a change from the previous requirement to present tax benefits as an inflow from financing activities and an outflow from operating activities. For the three months ended March 31, 2016, net cash provided by operating activities increased by $292,000 and net cash used in financing activities was increased by $292,000 for the adoption of ASU 2016-09. The Company has elected to recognize forfeitures as they occur in accordance with ASU 2016-09. The adoption of ASU 2016-09 did not materially impact the Company’s consolidated income statements.
Prospective Accounting Standards	Prospective Accounting Standards In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2017
Investments [Abstract]
Schedule of summary of available-for-sale investments	Cost or Gross Gross Fair (in thousands) March 31, 2017 Fixed maturity securities: State and municipal $ 107,019 $ 5,001 $ (811 ) $ 111,209 Residential mortgage-backed 145,415 1,037 (2,990 ) 143,462 Corporate 379,076 4,775 (3,750 ) 380,101 Commercial mortgage and asset-backed 172,092 819 (714 ) 172,197 Obligations of U.S. government corporations and agencies 62,493 191 (130 ) 62,554 U.S. Treasury securities and obligations guaranteed by the U.S. government 70,242 105 (179 ) 70,168 Redeemable preferred stock 2,025 — (29 ) 1,996 Total fixed maturity securities 938,362 11,928 (8,603 ) 941,687 Equity securities 74,531 6,240 (1,304 ) 79,467 Total investments available-for-sale $ 1,012,893 $ 18,168 $ (9,907 ) $ 1,021,154 December 31, 2016 Fixed maturity securities: State and municipal $ 101,793 $ 5,032 $ (984 ) $ 105,841 Residential mortgage-backed 152,703 1,070 (2,975 ) 150,798 Corporate 379,727 4,382 (5,661 ) 378,448 Commercial mortgage and asset-backed 167,967 906 (826 ) 168,047 Obligations of U.S. government corporations and agencies 64,823 276 (85 ) 65,014 U.S. Treasury securities and obligations guaranteed by the U.S. government 71,174 131 (185 ) 71,120 Redeemable preferred stock 2,025 — (216 ) 1,809 Total fixed maturity securities 940,212 11,797 (10,932 ) 941,077 Equity securities 74,553 4,503 (2,655 ) 76,401 Total investments available-for-sale $ 1,014,765 $ 16,300 $ (13,587 ) $ 1,017,478
Schedule of summary of available-for-sale investments by contractual maturity	Cost or Fair (in thousands) One year or less $ 98,952 $ 99,404 After one year through five years 232,153 233,770 After five years through ten years 172,470 171,838 After ten years 115,255 119,020 Residential mortgage-backed 145,415 143,462 Commercial mortgage and asset-backed 172,092 172,197 Redeemable preferred stock 2,025 1,996 Total $ 938,362 $ 941,687
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) March 31, 2017 Fixed maturity securities: State and municipal $ 28,964 $ (811 ) $ — $ — $ 28,964 $ (811 ) Residential mortgage-backed 87,741 (1,545 ) 31,113 (1,445 ) 118,854 (2,990 ) Corporate 156,461 (3,519 ) 3,402 (231 ) 159,863 (3,750 ) Commercial mortgage and asset-backed 52,815 (713 ) 4,749 (1 ) 57,564 (714 ) Obligations of U.S. government corporations and agencies 52,142 (130 ) — — 52,142 (130 ) U.S. Treasury securities and obligations guaranteed by the U.S. government 51,941 (179 ) — — 51,941 (179 ) Redeemable preferred stock 1,996 (29 ) — — 1,996 (29 ) Total fixed maturity securities 432,060 (6,926 ) 39,264 (1,677 ) 471,324 (8,603 ) Equity securities 9,667 (161 ) 6,999 (1,143 ) 16,666 (1,304 ) Total investments available-for-sale $ 441,727 $ (7,087 ) $ 46,263 $ (2,820 ) $ 487,990 $ (9,907 ) December 31, 2016 Fixed maturity securities: State and municipal $ 28,398 $ (984 ) $ — $ — $ 28,398 $ (984 ) Residential mortgage-backed 93,242 (1,548 ) 32,330 (1,427 ) 125,572 (2,975 ) Corporate 199,841 (4,212 ) 8,477 (1,449 ) 208,318 (5,661 ) Commercial mortgage and asset-backed 47,990 (799 ) 7,195 (27 ) 55,185 (826 ) Obligations of U.S. government corporations and agencies 50,573 (85 ) — — 50,573 (85 ) U.S. Treasury securities and obligations guaranteed by the U.S. government 48,989 (185 ) — — 48,989 (185 ) Redeemable preferred stock 1,809 (216 ) — — 1,809 (216 ) Total fixed maturity securities 470,842 (8,029 ) 48,002 (2,903 ) 518,844 (10,932 ) Equity securities 21,345 (1,071 ) 6,558 (1,584 ) 27,903 (2,655 ) Total investments available-for-sale $ 492,187 $ (9,100 ) $ 54,560 $ (4,487 ) $ 546,747 $ (13,587 )
Schedule of summary of realized gains and losses	Three Months Ended March 31, 2017 2016 (in thousands) Fixed maturity securities: Gross realized gains $ 338 $ 842 Gross realized losses (296 ) (1 ) 42 841 Bank loan participations: Gross realized gains 1,136 60 Gross realized losses (539 ) (352 ) 597 (292 ) Equity securities: Gross realized gains 409 – Gross realized losses – – 409 – Short-term investments and other: Gross realized gains – – Gross realized losses (1 ) (2 ) (1 ) (2 ) Total $ 1,047 $ 547
Schedule of other invested assets	Investment Income Carrying Value Three Months Ended March 31, December 31, March 31, 2017 2016 2017 2016 (in thousands) Renewable energy LLCs (a) $ 31,074 $ 27,067 $ 5,594 $ 681 Renewable energy bridge financing notes ( b) – – – 244 Limited partnerships (c) 24,071 23,852 382 156 Bank holding companies (d) 4,500 4,500 86 86 Total other invested assets $ 59,645 $ 55,419 $ 6,062 $ 1,167 (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 $1.6 million and $1.5 million for the three months ended March 31, 2017 and 2016, respectively. (b) The Company has held investments in bridge financing notes for renewable energy projects. The notes, all with affiliates of the Company’s largest shareholder, generally matured in less than one year and carried primarily variable rates of interest ranging from 7.0% to 15.0%. O (c) The Company owns investments in limited partnerships that invest in concentrated portfolios of publicly-traded small cap equities, loans of middle market private equity sponsored companies, and equity tranches of collateralized loan obligations (CLOs). Income f (d) The Company holds $4.5 million of subordinated notes issued by a 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 $86,000 in both three months ended March 31, 2017 and 2016. The Company’s Chairman and Chief Executive Officer was previously the Lead Independent Director of the bank holding company and an investor in the bank holding company. Additionally, one of the Company’s directors was an investor in the bank holding company and is currently a lender to the bank holding company.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of gross carrying amounts and accumulated amortization	March 31, 2017 December 31, 2016 Life (Years) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization ($ in thousands) Intangible Assets 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 4,193 11,611 4,044 Identifiable intangible assets subject to amortization 11,611 4,193 11,611 4,044 $ 42,975 $ 4,193 $ 42,975 $ 4,044

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Schedule of reconciliation of numerator and denominator of basic and diluted earnings per share	Income Weighted-Average Common Shares (Denominator) Earnings Per Share (in thousands, except per share data) Three months ended March 31, 2017 Basic $ 18,450 29,289,588 $ 0.63 Common share equivalents – 1,037,835 (0.02 ) Diluted $ 18,450 30,327,423 $ 0.61 Three months ended March 31, 2016 Basic $ 12,837 28,953,008 $ 0.44 Common share equivalents – 789,244 (0.01 ) Diluted $ 12,837 29,742,252 $ 0.43

Reserve for Losses and Loss A24

Reserve for Losses and Loss Adjustment Expenses (Tables)	3 Months Ended
	Mar. 31, 2017
Liability for Claims and Claims Adjustment Expense [Abstract]
Schedule of reconciliation of beginning and ending reserve balances for losses and loss adjustment expenses	Three Months Ended 2017 2016 (in thousands) Reserve for losses and loss adjustment expenses net of reinsurance recoverables at beginning of period $ 761,128 $ 653,534 Add: Incurred losses and loss adjustment expenses net of reinsurance: Current year 108,783 78,173 Prior years (3,414 ) (4,667 ) Total incurred losses and loss and adjustment expenses 105,369 73,506 Deduct: Loss and loss adjustment expense payments net of reinsurance: Current year 3,698 1,944 Prior years 71,018 52,508 Total loss and loss adjustment expense payments 74,716 54,452 Reserve for losses and loss adjustment expenses net of reinsurance recoverables at end of period 791,781 672,588 Add: Reinsurance recoverables on unpaid losses and loss adjustment expenses at end of period 188,782 141,739 Reserve for losses and loss adjustment expenses gross of reinsurance recoverables on unpaid losses and loss adjustment expenses at end of period $ 980,563 $ 814,327

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2017
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of components of comprehensive income	Three Months Ended March 31, 2017 2016 (in thousands) Unrealized gains arising during the period, before U.S. income taxes $ 5,998 $ 17,118 U.S. income taxes (1,636 ) (930 ) Unrealized gains arising during the period, net of U.S. income taxes 4,362 16,188 Less reclassification adjustment: Net realized investment gains 450 841 U.S. income tax expenses (122 ) (273 ) Reclassification adjustment for investment gains realized in net income 328 568 Other comprehensive income $ 4,034 $ 15,620

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Schedule of summary of company's segment results	Excess and Specialty Casualty Corporate Total (in thousands) Three Months Ended March 31, 2017 Gross written premiums $ 108,995 $ 72,464 $ 42,720 $ – $ 224,179 Net earned premiums 93,849 16,253 44,585 – 154,687 Underwriting profit of insurance segments 8,800 842 1,093 – 10,735 Net investment income 3,183 636 7,124 5,790 16,733 Interest expense – – – 2,123 2,123 Segment revenues 101,090 16,924 52,146 6,242 176,402 Segment goodwill 181,831 – – – 181,831 Segment assets 749,617 335,806 1,211,896 114,006 2,411,325 Three Months Ended March 31, 2016 Gross written premiums $ 82,108 $ 28,687 $ 22,276 $ – $ 133,071 Net earned premiums 65,505 11,405 40,220 – 117,130 Underwriting profit of insurance segments 9,204 475 334 – 10,013 Net investment income 3,286 611 6,227 1,148 11,272 Interest expense – – – 2,174 2,174 Segment revenues 71,790 12,047 46,308 1,184 131,329 Segment goodwill 181,831 – – – 181,831 Segment assets 692,517 190,515 1,121,576 97,469 2,102,077
Schedule of underwriting profit of operating segments by individual segment and reconciliation to consolidated income before taxes	Three Months Ended March 31, 2017 2016 (in thousands) Underwriting profit of the insurance segments: Excess and Surplus Lines $ 8,800 $ 9,204 Specialty Admitted Insurance 842 475 Casualty Reinsurance 1,093 334 Total underwriting profit of insurance segments 10,735 10,013 Other operating expenses of the Corporate and Other segment (6,461 ) (5,252 ) Underwriting profit 4,274 4,761 Net investment income 16,733 11,272 Net realized investment gains 1,047 547 Amortization of intangible assets (149 ) (149 ) Other income and expenses 200 76 Interest expense (2,123 ) (2,174 ) Income before taxes $ 19,982 $ 14,333

Other Operating Expenses (Table

Other Operating Expenses (Tables)	3 Months Ended
	Mar. 31, 2017
Other Operating Expenses And Other Expenses [Abstract]
Schedule of Other operating expenses	Three Months Ended March 31, 2017 2016 (in thousands) Amortization of policy acquisition costs $ 27,638 $ 23,081 Other underwriting expenses of the operating segments 14,794 12,846 Other operating expenses of the Corporate and Other segment 6,461 5,252 Total $ 48,893 $ 41,179

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of assets measured at fair value on a recurring basis	Assets measured at fair value on a recurring basis as of March 31, 2017 are summarized below: Fair Value Measurements Using Quoted Prices Significant Significant Level 1 Level 2 Level 3 Total (in thousands) Available-for-sale securities: Fixed maturity securities: State and municipal $ – $ 111,209 $ – $ 111,209 Residential mortgage-backed – 143,462 – 143,462 Corporate – 380,101 – 380,101 Commercial mortgage and asset-backed – 167,197 5,000 172,197 Obligations of U.S. government corporations and agencies – 62,554 – 62,554 U.S. Treasury securities and obligations guaranteed by the U.S. government 69,541 627 – 70,168 Redeemable preferred stock – 1,996 – 1,996 Total fixed maturity securities 69,541 867,146 5,000 941,687 Equity securities: Preferred stock – 67,104 – 67,104 Common stock 11,629 734 – 12,363 Total equity securities 11,629 67,838 – 79,467 Total available-for-sale securities $ 81,170 $ 934,984 $ 5,000 $ 1,021,154 Trading securities: Fixed maturity securities $ 1,250 $ 3,816 $ – $ 5,066 Short-term investments $ 1,000 $ 52,361 $ – $ 53,361 Assets measured at fair value on a recurring basis as of December 31, 2016 are summarized below: Fair Value Measurements Using Quoted Prices Significant Significant Level 1 Level 2 Level 3 Total (in thousands) Available-for-sale securities: Fixed maturity securities: State and municipal $ – $ 105,841 $ – $ 105,841 Residential mortgage-backed – 150,798 – 150,798 Corporate – 378,448 – 378,448 Commercial mortgage and – 163,047 5,000 168,047 Obligations of U.S. government corporations and agencies – 65,014 – 65,014 U.S. Treasury securities and obligations guaranteed by the U.S. government 70,465 655 – 71,120 Redeemable preferred stock – 1,809 – 1,809 Total fixed maturity securities 70,465 865,612 5,000 941,077 Equity securities: Preferred stock – 64,827 – 64,827 Common stock 10,840 734 – 11,574 Total equity securities 10,840 65,561 – 76,401 Total available-for-sale securities $ 81,305 $ 931,173 $ 5,000 $ 1,017,478 Trading securities: Fixed maturity securities $ 1,250 $ 3,813 $ – $ 5,063 Short-term investments $ 1,100 $ 49,744 $ – $ 50,844
Schedule of assets measured at fair value on a nonrecurring basis	Fair Value Measurements Using Quoted Prices In Active Markets for Identical Assets Level 1 Significant Other Observable Inputs Level 2 Significant Unobservable Inputs Level 3 Total (in thousands) March 31, 2017 Bank loan participations held-for-investment $ – $ – $ 2,668 $ 2,668 December 31, 2016 Bank loan participations held-for-investment $ – $ – $ 4,849 $ 4,849
Schedule of carrying value and fair Value	March 31, 2017 December 31, 2016 Carrying Fair Value Carrying Fair Value (in thousands) Assets Available-for-sale: Fixed maturity securities $ 941,687 $ 941,687 $ 941,077 $ 941,077 Equity securities 79,467 79,467 76,401 76,401 Trading: Fixed maturity securities 5,066 5,066 5,063 5,063 Bank loan participations held-for-investment 224,224 223,676 203,526 203,123 Cash and cash equivalents 94,224 94,224 109,784 109,784 Short-term investments 53,361 53,361 50,844 50,844 Other invested assets – notes receivable 4,500 5,922 4,500 6,008 Liabilities Senior debt 88,300 84,440 88,300 85,404 Junior subordinated debt 104,055 102,681 104,055 99,397

Capital Stock and Equity Awar29

Capital Stock and Equity Awards (Tables)	3 Months Ended
	Mar. 31, 2017
Stockholders' Equity Note [Abstract]
Schedule of summary of option activity	Three Months Ended March 31, 2017 2016 Shares Weighted- Shares Weighted- Outstanding: Beginning of period 2,234,699 $ 22.84 2,058,085 $ 18.11 Granted 195,509 $ 42.17 706,203 $ 32.07 Exercised (97,211 ) $ 17.23 (80,616 ) $ 16.52 Forfeited (50,062 ) $ 27.97 (3,362 ) $ 21.00 End of period 2,282,935 $ 24.62 2,680,310 $ 21.83 Exercisable, end of period 1,334,756 $ 20.47 1,165,401 $ 16.81
Schedule of summary of RSU activity	Shares Weighted- March 31, 2017 Unvested, beginning of period 196,800 $ 24.38 Granted 117,879 $ 42.17 Vested (37,485 ) $ 32.07 Forfeited (19,743 ) $ 24.06 Unvested, end of period 257,451 $ 31.43 March 31, 2016 Unvested, beginning of period 234,922 $ 21.00 Granted 58,663 $ 32.07 Unvested, end of period 293,585 $ 23.21
Schedule of summary of amount of expense and related tax benefit	Three Months Ended March 31, 2017 2016 (in thousands) Share based compensation expense $ 1,794 $ 1,189 U.S. tax benefit on share based compensation expense 469 336

Accounting Policies (Detail Tex

Accounting Policies (Detail Textuals) $ in Millions	Mar. 31, 2017USD ($)Company	Dec. 31, 2016USD ($)
Accounting Policies [Abstract]
Number of insurance companies based in the United States | Company	6
Investment in variable interest entities | $	$ 31.1	$ 27.1

Accounting Policies (Detail T31

Accounting Policies (Detail Textuals 1) - Accounting Standards Update ("ASU") 2016-09	3 Months Ended
	Mar. 31, 2016USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (Decrease) in net cash provided by operating activities	$ 292,000
Increase (Decrease) in net cash provided by financing activities	$ 292,000

Investments (Details)

Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	$ 1,012,893	$ 1,014,765
Gross Unrealized Gains	18,168	16,300
Gross Unrealized Losses	(9,907)	(13,587)
Fair value	1,021,154	1,017,478
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	938,362	940,212
Gross Unrealized Gains	11,928	11,797
Gross Unrealized Losses	(8,603)	(10,932)
Fair value	941,687	941,077
State and municipal
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	107,019	101,793
Gross Unrealized Gains	5,001	5,032
Gross Unrealized Losses	(811)	(984)
Fair value	111,209	105,841
Residential mortgage-backed
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	145,415	152,703
Gross Unrealized Gains	1,037	1,070
Gross Unrealized Losses	(2,990)	(2,975)
Fair value	143,462	150,798
Corporate
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	379,076	379,727
Gross Unrealized Gains	4,775	4,382
Gross Unrealized Losses	(3,750)	(5,661)
Fair value	380,101	378,448
Commercial mortgage and asset-backed
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	172,092	167,967
Gross Unrealized Gains	819	906
Gross Unrealized Losses	(714)	(826)
Fair value	172,197	168,047
Obligations of U.S. government corporations and agencies
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	62,493	64,823
Gross Unrealized Gains	191	276
Gross Unrealized Losses	(130)	(85)
Fair value	62,554	65,014
U.S. Treasury securities and obligations guaranteed by the U.S. government
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	70,242	71,174
Gross Unrealized Gains	105	131
Gross Unrealized Losses	(179)	(185)
Fair value	70,168	71,120
Redeemable preferred stock
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	2,025	2,025
Gross Unrealized Gains
Gross Unrealized Losses	(29)	(216)
Fair value	1,996	1,809
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	74,531	74,553
Gross Unrealized Gains	6,240	4,503
Gross Unrealized Losses	(1,304)	(2,655)
Fair value	$ 79,467	$ 76,401

Investments (Details 1)

Investments (Details 1) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Cost or Amortized Cost
One year or less	$ 98,952
After one year through five years	232,153
After five years through ten years	172,470
After ten years	115,255
Residential mortgage-backed	145,415
Commercial mortgage and asset-backed	172,092
Redeemable preferred stock	2,025
Total	938,362	$ 940,212
Fair Value
One year or less	99,404
After one year through five years	233,770
After five years through ten years	171,838
After ten years	119,020
Residential mortgage-backed	143,462
Commercial mortgage and asset-backed	172,197
Redeemable preferred stock	1,996
Total	$ 941,687	$ 941,077

Investments (Details 2)

Investments (Details 2) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Less Than 12 Months, Fair Value	$ 441,727	$ 492,187
Less Than 12 Months, Gross Unrealized Losses	(7,087)	(9,100)
12 Months or More, Fair Value	46,263	54,560
12 Months or More, Gross Unrealized Losses	(2,820)	(4,487)
Total, Fair Value	487,990	546,747
Total, Gross Unrealized Losses	(9,907)	(13,587)
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Less Than 12 Months, Fair Value	432,060	470,842
Less Than 12 Months, Gross Unrealized Losses	(6,926)	(8,029)
12 Months or More, Fair Value	39,264	48,002
12 Months or More, Gross Unrealized Losses	(1,677)	(2,903)
Total, Fair Value	471,324	518,844
Total, Gross Unrealized Losses	(8,603)	(10,932)
State and municipal
Schedule of Available-for-sale Securities [Line Items]
Less Than 12 Months, Fair Value	28,964	28,398
Less Than 12 Months, Gross Unrealized Losses	(811)	(984)
12 Months or More, Fair Value
12 Months or More, Gross Unrealized Losses
Total, Fair Value	28,964	28,398
Total, Gross Unrealized Losses	(811)	(984)
Residential mortgage-backed
Schedule of Available-for-sale Securities [Line Items]
Less Than 12 Months, Fair Value	87,741	93,242
Less Than 12 Months, Gross Unrealized Losses	(1,545)	(1,548)
12 Months or More, Fair Value	31,113	32,330
12 Months or More, Gross Unrealized Losses	(1,445)	(1,427)
Total, Fair Value	118,854	125,572
Total, Gross Unrealized Losses	(2,990)	(2,975)
Corporate
Schedule of Available-for-sale Securities [Line Items]
Less Than 12 Months, Fair Value	156,461	199,841
Less Than 12 Months, Gross Unrealized Losses	(3,519)	(4,212)
12 Months or More, Fair Value	3,402	8,477
12 Months or More, Gross Unrealized Losses	(231)	(1,449)
Total, Fair Value	159,863	208,318
Total, Gross Unrealized Losses	(3,750)	(5,661)
Commercial mortgage and asset-backed
Schedule of Available-for-sale Securities [Line Items]
Less Than 12 Months, Fair Value	52,815	47,990
Less Than 12 Months, Gross Unrealized Losses	(713)	(799)
12 Months or More, Fair Value	4,749	7,195
12 Months or More, Gross Unrealized Losses	(1)	(27)
Total, Fair Value	57,564	55,185
Total, Gross Unrealized Losses	(714)	(826)
Obligations of U.S. government corporations and agencies
Schedule of Available-for-sale Securities [Line Items]
Less Than 12 Months, Fair Value	52,142	50,573
Less Than 12 Months, Gross Unrealized Losses	(130)	(85)
12 Months or More, Fair Value
12 Months or More, Gross Unrealized Losses
Total, Fair Value	52,142	50,573
Total, Gross Unrealized Losses	(130)	(85)
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	51,941	48,989
Less Than 12 Months, Gross Unrealized Losses	(179)	(185)
12 Months or More, Fair Value
12 Months or More, Gross Unrealized Losses
Total, Fair Value	51,941	48,989
Total, Gross Unrealized Losses	(179)	(185)
Redeemable preferred stock
Schedule of Available-for-sale Securities [Line Items]
Less Than 12 Months, Fair Value	1,996	1,809
Less Than 12 Months, Gross Unrealized Losses	(29)	(216)
12 Months or More, Fair Value
12 Months or More, Gross Unrealized Losses
Total, Fair Value	1,996	1,809
Total, Gross Unrealized Losses	(29)	(216)
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Less Than 12 Months, Fair Value	9,667	21,345
Less Than 12 Months, Gross Unrealized Losses	(161)	(1,071)
12 Months or More, Fair Value	6,999	6,558
12 Months or More, Gross Unrealized Losses	(1,143)	(1,584)
Total, Fair Value	16,666	27,903
Total, Gross Unrealized Losses	$ (1,304)	$ (2,655)

Investments (Details 3)

Investments (Details 3) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Total	$ 1,047	$ 547
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Gross realized gains	338	842
Gross realized losses	(296)	(1)
Total	42	841
Bank loan participations:
Schedule of Available-for-sale Securities [Line Items]
Gross realized gains	1,136	60
Gross realized losses	(539)	(352)
Total	597	(292)
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Gross realized gains	409
Gross realized losses
Total	409
Short-term investments and other
Schedule of Available-for-sale Securities [Line Items]
Gross realized gains
Gross realized losses	(1)	(2)
Total	$ (1)	$ (2)

Investments (Details 4)

Investments (Details 4) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Net Investment Income [Line Items]
Total other invested assets		$ 59,645		$ 55,419
Investment Income		6,062	$ 1,167
Renewable energy LLCs
Net Investment Income [Line Items]
Total other invested assets	[1]	31,074		27,067
Investment Income	[1]	5,594	681
Renewable energy bridge financing notes
Net Investment Income [Line Items]
Total other invested assets	[2]
Investment Income	[2]		244
Limited partnerships
Net Investment Income [Line Items]
Total other invested assets	[3]	24,071		23,852
Investment Income	[3]	382	156
Bank holding companies
Net Investment Income [Line Items]
Total other invested assets	[4]	4,500		$ 4,500
Investment Income	[4]	$ 86	$ 86
[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 $1.6 million and $1.5 million for the three months ended March 31, 2017 and 2016, respectively.
[2]	The Company has held investments in bridge financing notes for renewable energy projects. The notes, all with affiliates of the Company's largest shareholder, generally matured in less than one year and carried primarily variable rates of interest ranging from 7.0% to 15.0%. Original discounts and commitment fees received were recognized over the terms of the notes under the effective interest method.
[3]	The Company owns investments in limited partnerships that invest in concentrated portfolios of 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 an investment in a limited partnership with a carrying value of $2.7 million at March 31, 2017. The Company recognized investment income of $68,000 and $92,000 on the investment for the three months ended March 31, 2017 and 2016, respectively. The Company's Excess and Surplus Lines segment holds investments in limited partnerships of $21.4 million at March 31, 2017. Investment income of $314,000 and $64,000 was recognized on the investments for the three months ended March 31, 2017 and 2016, respectively. At March 31, 2017, the Company's Excess and Surplus Lines segment has an outstanding commitment to invest another $1.0 million in a limited partnership that invests in loans of middle market private equity sponsored companies.
[4]	The Company holds $4.5 million of subordinated notes issued by a 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 $86,000 in both three months ended March 31, 2017 and 2016. The Company's Chairman and Chief Executive Officer was previously the Lead Independent Director of the bank holding company and an investor in the bank holding company. Additionally, one of the Company's directors was an investor in the bank holding company and is currently a lender to the bank holding company.

Investments (Detail Textuals)

Investments (Detail Textuals)	3 Months Ended		12 Months Ended
	Mar. 31, 2017USD ($)IssuerLoan	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)Loan	Dec. 31, 2015USD ($)
Gain (Loss) on Investments [Line Items]
Number of available-for-sale securities held in an unrealized loss position | Issuer	156
Total fair value of unrealized loss position securities	$ 487,990,000		$ 546,747,000
Total gross unrealized losses of unrealized loss position securities	9,907,000		13,587,000
Fair value	1,021,154,000		1,017,478,000
Gross unrealized losses	$ 9,907,000		$ 13,587,000
Number of impaired loans held | Loan	4		5
Carrying value of impaired loans	$ 4,000,000		$ 6,500,000
Carrying value of loan	224,224,000		203,526,000
Unpaid principal on impaired loans	4,800,000		7,600,000
Allowance for credit losses on impaired loans	639,000	$ 4,600,000	943,000	$ 4,300,000
Average recorded investment in impaired bank loans	5,300,000	5,900,000
Investment income during period loans were impaired	84,000	71,000
Net realized gain (loss) on changes in fair value of impaired bank loans	177,000	(304,000)
Net trading gains	3,000
Fixed maturity securities
Gain (Loss) on Investments [Line Items]
Total fair value of unrealized loss position securities	471,324,000		518,844,000
Total gross unrealized losses of unrealized loss position securities	8,603,000		10,932,000
Fair value	941,687,000		941,077,000
Gross unrealized losses	8,603,000		10,932,000
Realized gains	338,000	842,000
Realized losses	296,000	$ 1,000
Puerto rico loan
Gain (Loss) on Investments [Line Items]
Carrying value of loan	1,400,000		1,700,000
Unpaid principal on impaired loans	1,600,000		2,000,000
Allowance for credit losses on impaired loans	146,000		$ 177,000
Oil and gas companies loan
Gain (Loss) on Investments [Line Items]
Bank loan participations gross unrealized losses	$ 1,400,000
Number of loan | Loan	4
Number of impaired loans held | Loan	2		1
Carrying value of impaired loans	$ 2,000,000		$ 1,600,000
Carrying value of loan	9,900,000
Unpaid principal on impaired loans	2,500,000		2,200,000
Allowance for credit losses on impaired loans	$ 411,000		$ 545,000
Non energy sector loan
Gain (Loss) on Investments [Line Items]
Number of impaired loans held | Loan	1		3
Carrying value of impaired loans	$ 630,000		$ 3,200,000
Unpaid principal on impaired loans	712,000		3,500,000
Allowance for credit losses on impaired loans	$ 82,000		$ 221,000
BBB- or better | Fixed maturity securities
Gain (Loss) on Investments [Line Items]
Percentage of available for sale securities	99.40%
Ratings below investment grade | Fixed maturity securities
Gain (Loss) on Investments [Line Items]
Fair value	$ 5,600,000
Available-for-sale Securities, aggregate net unrealized gain	$ 254,000

Investments (Detail Textuals 1)

Investments (Detail Textuals 1) - USD ($)		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Investments in fixed maturities		$ 941,687,000		$ 941,077,000
Available-for-sale securities fair value		1,021,154,000		1,017,478,000
Carrying value of impaired loans		4,000,000		6,500,000
Carrying value of loan		224,224,000		203,526,000
Interest income		1,000	$ 1,000
Net realized investment gains		1,047,000	547,000
Fair value of available-for-sale equity securities		79,467,000		76,401,000
Investment Income		6,062,000	1,167,000
Carrying value of collateralized loan obligation held		5,000,000
Renewable energy bridge financing notes
Schedule of Available-for-sale Securities [Line Items]
Investment Income	[1]		244,000
Limited partnerships
Schedule of Available-for-sale Securities [Line Items]
Investment Income	[2]	382,000	156,000
Corporate and other segment | Limited partnerships
Schedule of Available-for-sale Securities [Line Items]
Carrying values of limited partnerships held		2,700,000
Investment income (loss)		68,000	92,000
Excess and Surplus Lines | Limited partnerships
Schedule of Available-for-sale Securities [Line Items]
Carrying values of limited partnerships held		21,400,000
Investment income (loss)		314,000	64,000
Commitment to investment in limited partnership		$ 1,000,000
Minimum | Renewable energy bridge financing notes
Schedule of Available-for-sale Securities [Line Items]
Rate of interest		7.00%
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]
Available-for-sale securities fair value		$ 941,687,000		$ 941,077,000
Realized gains		338,000	842,000
Net realized investment gains		42,000	841,000
Bank Holding Company
Schedule of Available-for-sale Securities [Line Items]
Investment in private subordinated notes		$ 4,500,000
Rate of interest		7.60%
Interest income		$ 86,000	86,000
Net realized investment gains		409,000
Investment Income			199,000
Investment in certificate of deposit		1,000,000
Investment in LLC | Corporate and other segment
Schedule of Available-for-sale Securities [Line Items]
Cash distributions from LLCs		$ 1,600,000	$ 1,500,000
Investment in LLC | Minimum | Corporate and other segment
Schedule of Available-for-sale Securities [Line Items]
Ownership percentage		2.60%
Investment in LLC | Maximum | Corporate and other segment
Schedule of Available-for-sale Securities [Line Items]
Ownership percentage		32.80%
[1]	The Company has held investments in bridge financing notes for renewable energy projects. The notes, all with affiliates of the Company's largest shareholder, generally matured in less than one year and carried primarily variable rates of interest ranging from 7.0% to 15.0%. Original discounts and commitment fees received were recognized over the terms of the notes under the effective interest method.
[2]	The Company owns investments in limited partnerships that invest in concentrated portfolios of 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 an investment in a limited partnership with a carrying value of $2.7 million at March 31, 2017. The Company recognized investment income of $68,000 and $92,000 on the investment for the three months ended March 31, 2017 and 2016, respectively. The Company's Excess and Surplus Lines segment holds investments in limited partnerships of $21.4 million at March 31, 2017. Investment income of $314,000 and $64,000 was recognized on the investments for the three months ended March 31, 2017 and 2016, respectively. At March 31, 2017, the Company's Excess and Surplus Lines segment has an outstanding commitment to invest another $1.0 million in a limited partnership that invests in loans of middle market private equity sponsored companies.

Goodwill and Intangible Asset39

Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
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	4,193	4,044
Total Intangible Assets, Gross	42,975	42,975
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
Broker relationships
Identifiable intangible assets subject to amortization
Gross Carrying Amount	11,611	11,611
Accumulated Amortization	$ 4,193	$ 4,044
Life (Years)	24 years 7 months 6 days

Goodwill and Intangible Asset40

Goodwill and Intangible Assets (Detail Textuals) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 11, 2007
Business Acquisition [Line Items]
Goodwill	$ 181,831	$ 181,831	$ 181,831
James River Group, Inc.
Business Acquisition [Line Items]
Percentage of outstanding shares				100.00%

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share [Abstract]
Net income to shareholders (in dollars)	$ 18,450	$ 12,837
Weighted average common shares outstanding:
Basic (in shares)	29,289,588	28,953,008
Common share equivalents (in shares)	1,037,835	789,244
Diluted (in shares)	30,327,423	29,742,252
Earnings per share:
Basic (in dollars per share)	$ 0.63	$ 0.44
Common share equivalents (in dollars per share)	(0.02)	(0.01)
Diluted (in dollars per share)	$ 0.61	$ 0.43

Earnings Per Share (Detail Text

Earnings Per Share (Detail Textuals)	3 Months Ended
	Mar. 31, 2017shares
Stock options and restricted share units ("RSU's")
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of securities excluded from the calculations of diluted earnings per share	97,755

Reserve for Losses and Loss A43

Reserve for Losses and Loss Adjustment Expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Liability for Unpaid Claims and Claims Adjustment Expense, Period Increase (Decrease) [Abstract]
Reserve for losses and loss adjustment expenses net of reinsurance recoverables at beginning of period	$ 761,128	$ 653,534
Add: Incurred losses and loss adjustment expenses net of reinsurance:
Current year	108,783	78,173
Prior years	(3,414)	(4,667)
Total incurred losses and loss and adjustment expenses	105,369	73,506
Deduct: Loss and loss adjustment expense payments net of reinsurance:
Current year	3,698	1,944
Prior years	71,018	52,508
Total loss and loss adjustment expense payments	74,716	54,452
Reserve for losses and loss adjustment expenses net of reinsurance recoverables at end of period	791,781	672,588
Add: Reinsurance recoverables on unpaid losses and loss adjustment expenses at end of period	188,782	141,739	$ 182,737
Reserve for losses and loss adjustment expenses gross of reinsurance recoverables on unpaid losses and loss adjustment expenses at end of period	$ 980,563	$ 814,327	$ 943,865

Reserve for Losses and Loss A44

Reserve for Losses and Loss Adjustment Expenses (Detail Textuals) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Favorable development on prior year loss reserves
Reserve for losses and loss adjustment expenses	$ 3,414,000	$ 4,667,000
Excess and Surplus Lines | from 2016 and 2014 accident years
Favorable development on prior year loss reserves
Reserve for losses and loss adjustment expenses	3,200,000
Excess and Surplus Lines | 2013, 2014 and 2015 accident years
Favorable development on prior year loss reserves
Reserve for losses and loss adjustment expenses		4,400,000
Specialty Admitted Insurance | Accident years 2012 and 2013
Favorable development on prior year loss reserves
Reserve for losses and loss adjustment expenses		311,000
Specialty Admitted Insurance | Prior accident years | in 2015 and 2014 accident years
Favorable development on prior year loss reserves
Reserve for losses and loss adjustment expenses	42,000
Casualty Reinsurance
Favorable development on prior year loss reserves
Reserve for losses and loss adjustment expenses	$ 145,000	$ (37,000)

Other Comprehensive Income (Det

Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Unrealized gains arising during the period, before U.S. income taxes	$ 5,998	$ 17,118
U.S. income taxes	(1,636)	(930)
Unrealized gains arising during the period, net of U.S. income taxes	4,362	16,188
Less reclassification adjustment:
Net realized investment gains	450	841
U.S. income tax expenses	(122)	(273)
Reclassification adjustment for investment gains realized in net income	328	568
Other comprehensive income	$ 4,034	$ 15,620

Contingent Liabilities (Detail

Contingent Liabilities (Detail Textuals) - JRG Reinsurance Company, Ltd. $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)Letter_of_Credit
Contingent Liabilities [Line Items]
Number of letter of credit facilities | Letter_of_Credit	2
Total amount deposited in trust accounts	$ 249
Letter of credit 100 Million
Contingent Liabilities [Line Items]
Letters of credit facility, amount	100
Amount of letters of credit issued	87
Assets deposited for securing letters of credit	103.6
Letter of credit 102.5 Million
Contingent Liabilities [Line Items]
Letters of credit facility, amount	102.5
Amount of letters of credit issued	45.2
Assets deposited for securing letters of credit	$ 63.1

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Segment Reporting Information [Line Items]
Gross written premiums	$ 224,179	$ 133,071
Net earned premiums	154,687	117,130
Underwriting profit of insurance segments	10,735	10,013
Net investment income	16,733	11,272
Interest expense	2,123	2,174
Segment revenues	176,402	131,329
Segment goodwill	181,831	181,831	$ 181,831
Segment assets	2,411,325	2,102,077	$ 2,346,533
Reportable segments | Excess and Surplus Lines
Segment Reporting Information [Line Items]
Gross written premiums	108,995	82,108
Net earned premiums	93,849	65,505
Underwriting profit of insurance segments	8,800	9,204
Net investment income	3,183	3,286
Interest expense
Segment revenues	101,090	71,790
Segment goodwill	181,831	181,831
Segment assets	749,617	692,517
Reportable segments | Specialty Admitted Insurance
Segment Reporting Information [Line Items]
Gross written premiums	72,464	28,687
Net earned premiums	16,253	11,405
Underwriting profit of insurance segments	842	475
Net investment income	636	611
Interest expense
Segment revenues	16,924	12,047
Segment goodwill
Segment assets	335,806	190,515
Reportable segments | Casualty Reinsurance
Segment Reporting Information [Line Items]
Gross written premiums	42,720	22,276
Net earned premiums	44,585	40,220
Underwriting profit of insurance segments	1,093	334
Net investment income	7,124	6,227
Interest expense
Segment revenues	52,146	46,308
Segment goodwill
Segment assets	1,211,896	1,121,576
Reportable segments | Corporate and Other
Segment Reporting Information [Line Items]
Gross written premiums
Net earned premiums
Underwriting profit of insurance segments
Net investment income	5,790	1,148
Interest expense	2,123	2,174
Segment revenues	6,242	1,184
Segment goodwill
Segment assets	$ 114,006	$ 97,469

Segment Information (Details 1)

Segment Information (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Segment Reporting Information [Line Items]
Total underwriting profit of insurance segments	$ 10,735	$ 10,013
Other operating expenses of the Corporate and Other segment	(6,461)	(5,252)
Underwriting profit	4,274	4,761
Net investment income	16,733	11,272
Net realized investment gains	1,047	547
Amortization of intangible assets	(149)	(149)
Other income and expenses	200	76
Interest expense	(2,123)	(2,174)
Income before taxes	19,982	14,333
Reportable segments | Excess and Surplus Lines
Segment Reporting Information [Line Items]
Total underwriting profit of insurance segments	8,800	9,204
Net investment income	3,183	3,286
Interest expense
Reportable segments | Specialty Admitted Insurance
Segment Reporting Information [Line Items]
Total underwriting profit of insurance segments	842	475
Net investment income	636	611
Interest expense
Reportable segments | Casualty Reinsurance
Segment Reporting Information [Line Items]
Total underwriting profit of insurance segments	1,093	334
Net investment income	7,124	6,227
Interest expense
Reportable segments | Corporate and Other
Segment Reporting Information [Line Items]
Total underwriting profit of insurance segments
Net investment income	5,790	1,148
Interest expense	$ (2,123)	$ (2,174)

Segment Information (Detail Tex

Segment Information (Detail Textuals) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)Segment	Mar. 31, 2016USD ($)
Segment Reporting [Abstract]
Number of reportable segments | Segment	4
Fee income in Excess and Surplus Lines segment | $	$ 3.8	$ 2.3

Other Operating Expenses (Detai

Other Operating Expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Other Operating Expenses And Other Expenses [Abstract]
Amortization of policy acquisition costs	$ 27,638	$ 23,081
Other underwriting expenses of the operating segments	14,794	12,846
Other operating expenses of the Corporate and Other segment	6,461	5,252
Total	$ 48,893	$ 41,179

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	$ 1,021,154	$ 1,017,478
Trading securities:
Fixed maturity securities	5,066	5,063
Short-term investments	53,361	50,844
Fixed maturity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	941,687	941,077
State and municipal
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	111,209	105,841
Residential mortgage-backed
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	143,462	150,798
Corporate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	380,101	378,448
Commercial mortgage and asset-backed
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	172,197	168,047
Obligations of U.S. government corporations and agencies
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	62,554	65,014
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	70,168	71,120
Redeemable preferred stock
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	1,996	1,809
Equity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	79,467	76,401
Recurring basis
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	1,021,154	1,017,478
Trading securities:
Fixed maturity securities	5,066	5,063
Short-term investments	53,361	50,844
Recurring basis | Fixed maturity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	941,687	941,077
Recurring basis | State and municipal
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	111,209	105,841
Recurring basis | Residential mortgage-backed
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	143,462	150,798
Recurring basis | Corporate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	380,101	378,448
Recurring basis | Commercial mortgage and asset-backed
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	172,197	168,047
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	62,554	65,014
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	70,168	71,120
Recurring basis | Redeemable preferred stock
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	1,996	1,809
Recurring basis | Equity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	79,467	76,401
Recurring basis | Preferred stock
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	67,104	64,827
Recurring basis | Common stock
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	12,363	11,574
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	81,170	81,305
Trading securities:
Fixed maturity securities	1,250	1,250
Short-term investments	1,000	1,100
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	69,541	70,465
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	69,541	70,465
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	11,629	10,840
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	11,629	10,840
Recurring basis | Significant Other Observable Inputs Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	934,984	931,173
Trading securities:
Fixed maturity securities	3,816	3,813
Short-term investments	52,361	49,744
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	867,146	865,612
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	111,209	105,841
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	143,462	150,798
Recurring basis | Significant Other Observable Inputs Level 2 | Corporate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total available-for-sale securities	380,101	378,448
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	167,197	163,047
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	62,554	65,014
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	627	655
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	1,996	1,809
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	67,838	65,561
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	67,104	64,827
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	5,000
Trading securities:
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	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	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 (Deta52

Fair Value Measurements (Details 1) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Bank loan participations held for investment	$ 2,700	$ 4,800
Nonrecurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Bank loan participations held for investment	2,668	4,849
Nonrecurring basis | Quoted Prices in Active Markets for Identical Assets Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Bank loan participations held for investment
Nonrecurring basis | Significant Other Observable Inputs Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Bank loan participations held for investment
Nonrecurring basis | Significant Unobservable Inputs Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Bank loan participations held for investment	$ 2,668	$ 4,849

Fair Value Measurements (Deta53

Fair Value Measurements (Details 2) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Available-for-sale:
Fixed maturity securities	$ 941,687	$ 941,077
Equity securities	79,467	76,401
Trading:
Bank loan participations held-for-investment	224,224	203,526
Cash and cash equivalents	94,224	109,784	$ 92,125	$ 106,406
Short-term investments	53,361	50,844
Liabilities
Senior debt	88,300	88,300
Carrying Value
Available-for-sale:
Fixed maturity securities	941,687	941,077
Equity securities	79,467	76,401
Trading:
Fixed maturity securities	5,066	5,063
Bank loan participations held-for-investment	224,224	203,526
Cash and cash equivalents	94,224	109,784
Short-term investments	53,361	50,844
Other invested assets - notes receivable	4,500	4,500
Liabilities
Senior debt	88,300	88,300
Junior subordinated debt	104,055	104,055
Fair Value
Available-for-sale:
Fixed maturity securities	941,687	941,077
Equity securities	79,467	76,401
Trading:
Fixed maturity securities	5,066	5,063
Bank loan participations held-for-investment	223,676	203,123
Cash and cash equivalents	94,224	109,784
Short-term investments	53,361	50,844
Other invested assets - notes receivable	5,922	6,008
Liabilities
Senior debt	84,440	85,404
Junior subordinated debt	$ 102,681	$ 99,397

Fair Value Measurements (Deta54

Fair Value Measurements (Detail Textuals) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities	$ 1,021,154	$ 1,017,478
Impaired bank loan participations held for investment	2,700	4,800
Unpaid principal on bank loan participations for which external sources were unavailable to determine fair value	1,800	2,300
Carrying value of bank loan participations for which external sources were unavailable to determine fair value	1,600	$ 2,000
Market approach | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities	$ 5,000

Capital Stock and Equity Awar55

Capital Stock and Equity Awards (Details) - Options - $ / shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Shares
Outstanding, Beginning of period	2,234,699	2,058,085
Granted	195,509	706,203
Exercised	(97,211)	(80,616)
Forfeited	(50,062)	(3,362)
Outstanding, End of period	2,282,935	2,680,310
Exercisable, end of period	1,334,756	1,165,401
Weighted- Average Exercise Price
Outstanding, Beginning of period	$ 22.84	$ 18.11
Granted	42.17	32.07
Exercised	17.23	16.52
Forfeited	27.97	21
Outstanding, End of period	24.62	21.83
Exercisable, end of period	$ 20.47	$ 16.81

Capital Stock and Equity Awar56

Capital Stock and Equity Awards (Details 1) - RSUs - $ / shares	1 Months Ended		3 Months Ended
	Feb. 14, 2017	Feb. 16, 2016	Mar. 31, 2017	Mar. 31, 2016
Shares
Unvested, beginning of period			196,800	234,922
Granted	117,879	58,663	117,879	58,663
Vested			(37,485)
Forfeited			(19,743)
Unvested, end of period			257,451	293,585
Weighted- Average Grant Date Fair Value
Unvested, beginning of period			$ 24.38	$ 21
Granted	$ 42.17	$ 32.07	42.17	32.07
Vested			32.07
Forfeited			24.06
Unvested, end of period			$ 31.43	$ 23.21

Capital Stock and Equity Awar57

Capital Stock and Equity Awards (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Stockholders' Equity Note [Abstract]
Share based compensation expense	$ 1,794	$ 1,189
U.S. tax benefit on share based compensation expense	$ 469	$ 336

Capital Stock and Equity Awar58

Capital Stock and Equity Awards (Detail Textuals) - shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares outstanding	29,344,327		29,257,566
Common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common shares issued during period	86,761
Number of common shares issued during period related to stock option exercises	63,467	52,312
Number of common shares issued during period related to RSU	23,294
Common stock, shares outstanding	29,344,327	28,993,859	29,257,566	28,941,547

Capital Stock and Equity Awar59

Capital Stock and Equity Awards (Detail Textuals 1) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended
	Feb. 14, 2017	Feb. 16, 2016
Stockholders' Equity Note [Abstract]
Date of Declaration	Feb. 14, 2017	Feb. 16, 2016
Dividend per Common Share	$ 0.30	$ 0.20
Payable to Shareholders of Record on	Mar. 13, 2017	Mar. 14, 2016
Payment Date	Mar. 31, 2017	Mar. 28, 2016
Total Amount	$ 8.9	$ 5.8

Capital Stock and Equity Awar60

Capital Stock and Equity Awards (Detail Textuals 2) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended		3 Months Ended
	Feb. 14, 2017	Feb. 16, 2016	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share based compensation expense			$ 12.1
Weighted-average period of unrecognized share based compensation expense			2 years 2 months 12 days
Weighted-average remaining contractual life of options outstanding			4 years 7 months 6 days
Weighted-average remaining contractual life of options exercisable			3 years 9 months 18 days
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted	117,879	58,663	117,879	58,663
Fair value at date of grant	$ 42.17	$ 32.07	$ 42.17	$ 32.07
RSUs | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		1 year
RSUs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
Non-qualified stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options granted			195,509	706,203
Exercise price			$ 42.17	$ 32.07
2014 LTIP | Non-qualified stock options
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			876,309
Number of options granted	195,509	706,203
Exercise price	$ 42.17	$ 32.07
Vesting period	3 years	3 years
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			32,994

Subsequent Events (Detail Textu

Subsequent Events (Detail Textuals) - $ / shares	May 02, 2017	Feb. 14, 2017	Feb. 16, 2016
Subsequent Event [Line Items]
Dividend payable, date declared		Feb. 14, 2017	Feb. 16, 2016
Cash dividend, declared per share		$ 0.30	$ 0.20
Dividends payable, date to be paid		Mar. 31, 2017	Mar. 28, 2016
Dividend payable, record date		Mar. 13, 2017	Mar. 14, 2016
Subsequent event
Subsequent Event [Line Items]
Dividend payable, date declared	May 2, 2017
Cash dividend, declared per share	$ 0.30
Dividends payable, date to be paid	Jun. 30, 2017
Dividend payable, record date	Jun. 12, 2017
Subsequent event | Amendment to the 2014 LTIP | Common stock
Subsequent Event [Line Items]
Maximum number of common shares authorized for issuance	1,000,000
Number of additional shares to be available for issuance	500,000