Universal Insurance (UVE) 10-Q 9 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 03, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Trading Symbol	UVE
Entity Registrant Name	UNIVERSAL INSURANCE HOLDINGS, INC.
Entity Central Index Key	891,166
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		34,443,288

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
ASSETS
Fixed maturities, at fair value	$ 609,179	$ 584,361
Equity securities, at fair value	26,075	50,803
Short-term investments, at fair value		5,002
Investment real estate, net	16,324	11,435
Total invested assets	651,578	651,601
Cash and cash equivalents	366,176	105,730
Restricted cash and cash equivalents	2,635	2,635
Prepaid reinsurance premiums	212,489	124,385
Reinsurance recoverable	412,697	106
Premiums receivable, net	66,687	53,833
Property and equipment, net	32,959	32,162
Deferred policy acquisition costs	75,934	64,912
Income taxes recoverable	19,174	3,262
Deferred income tax asset, net	5,300	10,674
Other assets	11,432	10,707
Total assets	1,857,061	1,060,007
LIABILITIES:
Unpaid losses and loss adjustment expenses	440,443	58,494
Unearned premiums	556,299	475,756
Advance premium	28,667	17,796
Accounts payable	3,999	3,187
Reinsurance payable, net	341,356	80,891
Dividends payable	4,846
Other liabilities and accrued expenses	47,659	37,665
Long-term debt	13,235	15,028
Total liabilities	1,436,504	688,817
Commitments and Contingencies (Note 12)
STOCKHOLDERS' EQUITY:
Cumulative convertible preferred stock, $.01 par value Authorized shares - 1,000 Issued shares - 10 and 10 Outstanding shares - 10 and 10 Minimum liquidation preference, $9.99 and $9.99 per share
Common stock, $.01 par value; Authorized shares - 55,000; Issued shares - 45,473 and 45,324; and Outstanding shares - 34,440 and 35,052	455	453
Treasury shares, at cost - 11,033 and 10,272	(104,866)	(86,982)
Additional paid-in capital	89,429	82,263
Accumulated other comprehensive income (loss), net of taxes	(2,207)	(6,408)
Retained earnings	437,746	381,864
Total stockholders' equity	420,557	371,190
Total liabilities and stockholders' equity	$ 1,857,061	$ 1,060,007

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Statement Of Financial Position [Abstract]
Cumulative convertible preferred stock, par value	$ 0.01	$ 0.01
Cumulative convertible preferred stock, shares authorized	1,000,000	1,000,000
Cumulative convertible preferred stock, shares issued	10,000	10,000
Cumulative convertible preferred stock, shares outstanding	10,000	10,000
Cumulative convertible preferred stock, minimum liquidation preference	$ 9.99	$ 9.99
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	55,000,000	55,000,000
Common stock, shares issued	45,473,000	45,324,000
Common stock, shares outstanding	34,440,000	35,052,000
Treasury stock, shares	11,033,000	10,272,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
PREMIUMS EARNED AND OTHER REVENUES
Direct premiums written	$ 274,744	$ 241,888	$ 816,350	$ 741,782
Change in unearned premium	(19,935)	(7,388)	(80,543)	(59,211)
Direct premium earned	254,809	234,500	735,807	682,571
Ceded premium earned	(80,292)	(74,966)	(230,722)	(214,128)
Premiums earned, net	174,517	159,534	505,085	468,443
Net investment income (expense)	3,085	2,304	9,012	6,051
Net realized gains (losses) on investments	803	101	2,450	1,344
Commission revenue	5,304	4,603	14,546	12,927
Policy fees	4,861	4,226	14,594	13,093
Other revenue	1,673	1,668	4,917	4,827
Total premiums earned and other revenues	190,243	172,436	550,604	506,685
OPERATING COSTS AND EXPENSES
Losses and loss adjustment expenses	116,375	73,548	267,129	199,749
General and administrative expenses	57,269	54,725	171,582	166,780
Total operating costs and expenses	173,644	128,273	438,711	366,529
INCOME BEFORE INCOME TAXES	16,599	44,163	111,893	140,156
Income tax expense	6,635	17,281	41,354	54,400
NET INCOME	$ 9,964	$ 26,882	$ 70,539	$ 85,756
Basic earnings per common share	$ 0.29	$ 0.77	$ 2.02	$ 2.46
Weighted average common shares outstanding - Basic	34,686	35,042	34,927	34,878
Diluted earnings per common share	$ 0.28	$ 0.75	$ 1.96	$ 2.41
Weighted average common shares outstanding - Diluted	35,615	35,723	35,917	35,594
Cash dividend declared per common share	$ 0.14	$ 0.14	$ 0.42	$ 0.42

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 9,964	$ 26,882	$ 70,539	$ 85,756
Other comprehensive income (loss), net of taxes	251	(491)	4,201	5,631
Comprehensive income	$ 10,215	$ 26,391	$ 74,740	$ 91,387

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$ 286,195	$ 178,637
Cash flows from investing activities:
Proceeds from sale of property and equipment	17	31
Purchases of property and equipment	(3,655)	(6,041)
Purchases of equity securities	(47,070)	(46,414)
Purchases of fixed maturities	(114,593)	(278,961)
Purchases of investment real estate, net	(5,023)	(4,400)
Proceeds from sales of equity securities	75,027	46,819
Proceeds from sales of fixed maturities	19,643	78,966
Maturities of fixed maturities	75,770	38,111
Maturities of short-term investments	5,000	25,000
Net cash provided by (used in) investing activities	5,116	(146,889)
Cash flows from financing activities:
Preferred stock dividend	(8)	(7)
Common stock dividend	(9,803)	(9,828)
Purchase of treasury stock	(17,884)	(8,415)
Sale of treasury stock		2,965
Payments related to tax withholding for share-based compensation	(1,367)	(4,905)
Excess tax benefits (shortfall) from share-based compensation		(1,563)
Repayment of debt	(1,803)	(1,768)
Net cash provided by (used in) financing activities	(30,865)	(23,521)
Net increase (decrease) in cash and cash equivalents	260,446	8,227
Cash and cash equivalents at beginning of period	105,730	197,014
Cash and cash equivalents at end of period	$ 366,176	$ 205,241

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	9 Months Ended
	Sep. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Nature of Operations and Basis of Presentation	1. Nature of Operations and Basis of Presentation Nature of Operations Universal Insurance Holdings, Inc. (“UVE”) is a Delaware corporation incorporated in 1990. UVE with its wholly-owned subsidiaries (the “Company”) is a vertically integrated insurance holding company performing all aspects of insurance underwriting, distribution and claims. Through its wholly-owned subsidiaries, Universal Property & Casualty Insurance Company (“UPCIC”) and American Platinum Property and Casualty Insurance Company (“APPCIC”), together referred to as the “Insurance Entities,” the Company is principally engaged in the property and casualty insurance business offered primarily through a network of independent agents. Risk from catastrophic losses is managed through the use of reinsurance agreements. The Company’s primary product is homeowners’ insurance currently offered in fifteen states The Company generates revenues primarily from the collection of premiums and invests funds in excess of those retained for claims-paying obligations and insurance operations. Other significant sources of revenue include brokerage commissions collected from reinsurers on reinsurance programs placed by the Insurance Entities, policy fees collected from policyholders by our wholly-owned managing general agency subsidiary and payment plan fees charged to policyholders who choose to pay their premiums in installments. Basis of Presentation The Company has prepared the accompanying unaudited Condensed Consolidated Financial Statements (“Financial Statements”) in accordance with the rules and regulations of the United States Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, the Financial Statements do not include all of the information and footnotes required by United States Generally Accepted Accounting Principles (“GAAP”) for annual financial statements. Therefore, the Financial Statements should be read in conjunction with the audited Consolidated Financial Statements contained in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016, filed with the SEC on February 24, 2017. The condensed consolidated balance sheet at December 31, 2016, was derived from audited financial statements, but does not include all disclosures required by GAAP. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation have been included in the Financial Statements. The results for interim periods do not necessarily indicate the results that may be expected for any other interim period or for the full year. To conform to the current period presentation, certain amounts in the prior periods’ consolidated financial statements and notes have been reclassified. Such reclassifications were of an immaterial amount and had no effect on net income or stockholders’ equity. The Financial Statements include the accounts of UVE and its wholly-owned subsidiaries. All material intercompany balances and transactions have been eliminated in consolidation. Management must make estimates and assumptions that affect amounts reported in the Company’s Financial Statements and in disclosures of contingent assets and liabilities. Actual results could differ from those estimates.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies The Company reported Significant Accounting Policies in its Annual Report on Form 10-K for the year ended December 31, 2016. The following are new or revised disclosures or disclosures required on a quarterly basis. Recently Adopted Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (“FASB”) issued guidance which simplifies several aspects of the accounting for share-based payment transactions. The new guidance requires excess income tax benefits (windfalls) and deficiencies (shortfalls) to be recognized in the income statement as income tax benefits or charges when the awards vest or are settled. The former guidance required the recognition of excess tax benefits or deficiencies in stockholders’ equity. In addition, all income tax-related cash flows resulting from share-based payments will be reported as operating activities in the statement of cash flows under the new guidance. The guidance also allows us to repurchase more of an employee's shares for tax withholding purposes without triggering liability accounting; clarifies that all cash payments for tax withholdings made on an employee’s behalf should be presented as a financing activity on the Company’s statement of cash flows; and provides an accounting policy election to account for forfeitures as they occur. The guidance is effective for fiscal years and interim periods beginning after December 15, 2016, with early adoption permitted. The Company adopted this guidance effective January 1, 2017. The adoption of the new standard resulted in the recognition of excess tax benefit of $0.8 million reflected in the Company’s Condensed Consolidated Statements of Income as an income tax benefit for the nine months ended September 30, 2017. Additionally, excess tax benefits on the Company’s Condensed Consolidated Statement of Cash Flows are presented as an operating activity on a prospective basis. The presentation requirement for cash flows related to employee taxes paid for withheld shares did not impact any of the periods presented in the Company’s Condensed Consolidated Statement of Cash Flows since these cash flows have historically been presented as a financing activity. The Company will continue to account for forfeitures as they occur. The standard also modifies the calculation of dilutive earnings per share to no longer use proceeds from tax benefits or deficiencies.

Investments

Investments	9 Months Ended
	Sep. 30, 2017
Investments Debt And Equity Securities [Abstract]
Investments	3. Investments Securities Available for Sale The following table provides the cost or amortized cost and fair value of securities available for sale as of the dates presented (in thousands): September 30, 2017 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Fixed Maturities: U.S. government obligations and agencies $ 55,519 $ 21 $ (524 ) $ 55,016 Corporate bonds 215,455 883 (507 ) 215,831 Mortgage-backed and asset-backed securities 219,321 110 (1,333 ) 218,098 Municipal bonds 106,926 706 (1,342 ) 106,290 Redeemable preferred stock 13,336 631 (23 ) 13,944 Equity Securities: Common stock 5,992 — (309 ) 5,683 Mutual funds 22,316 143 (2,067 ) 20,392 Total $ 638,865 $ 2,494 $ (6,105 ) $ 635,254 December 31, 2016 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Fixed Maturities: U.S. government obligations and agencies $ 74,937 $ — $ (670 ) $ 74,267 Corporate bonds 192,328 402 (1,300 ) 191,430 Mortgage-backed and asset-backed securities 216,679 135 (2,038 ) 214,776 Municipal bonds 94,794 130 (3,727 ) 91,197 Redeemable preferred stock 12,723 125 (157 ) 12,691 Equity Securities: Common stock 214 — (121 ) 93 Mutual funds 53,900 407 (3,597 ) 50,710 Short-term investments 5,000 2 — 5,002 Total $ 650,575 $ 1,201 $ (11,610 ) $ 640,166 The following table provides the credit quality of investment securities with contractual maturities or the issuer of such securities as of the dates presented (in thousands): September 30, 2017 December 31, 2016 % of Total % of Total Comparable Ratings Fair Value Fair Value Fair Value Fair Value AAA $ 130,119 21.4 % $ 131,260 22.3 % AA 268,056 44.0 % 275,480 46.7 % A 122,808 20.2 % 107,418 18.2 % BBB 79,950 13.1 % 67,263 11.4 % BB+ and Below 3,738 0.6 % 3,444 0.6 % No Rating Available 4,508 0.7 % 4,498 0.8 % Total $ 609,179 100.0 % $ 589,363 100.0 % The tables above include comparable credit quality ratings by Standard and Poor’s Rating Services, Inc., Moody’s Investors Service, Inc. and Fitch Ratings, Inc. The following table summarizes the cost or amortized cost and fair value of mortgage-backed and asset-backed securities as of the dates presented (in thousands): September 30, 2017 December 31, 2016 Cost or Cost or Amortized Amortized Cost Fair Value Cost Fair Value Mortgage-backed Securities: Agency $ 119,469 $ 118,387 $ 110,724 $ 109,022 Non-agency 15,418 15,334 19,408 19,265 Asset-backed Securities: Auto loan receivables 36,989 36,959 37,390 37,429 Credit card receivables 35,869 35,846 38,640 38,568 Other receivables 11,576 11,572 10,517 10,492 Total $ 219,321 $ 218,098 $ 216,679 $ 214,776 The following table summarizes the fair value and gross unrealized losses on securities available for sale, aggregated by major investment category and length of time that individual securities have been in a continuous unrealized loss position as of the dates presented (dollars in thousands): September 30, 2017 Less Than 12 Months 12 Months or Longer Number of Unrealized Number of Unrealized Issues Fair Value Losses Issues Fair Value Losses Fixed Maturities: U.S. government obligations and agencies 10 $ 47,102 $ (404 ) 4 $ 4,345 $ (120 ) Corporate bonds 100 76,577 (410 ) 11 7,105 (97 ) Mortgage-backed and asset-backed securities 90 146,458 (1,196 ) 8 13,063 (137 ) Municipal bonds 43 46,363 (601 ) 15 24,714 (741 ) Redeemable preferred stock 13 1,518 (19 ) 1 107 (4 ) Equity Securities: Common stock 2 5,683 (309 ) — — — Mutual funds 5 293 (2 ) 2 9,202 (2,065 ) Total 263 $ 323,994 $ (2,941 ) 41 $ 58,536 $ (3,164 ) December 31, 2016 Less Than 12 Months 12 Months or Longer Number of Unrealized Number of Unrealized Issues Fair Value Losses Issues Fair Value Losses Fixed Maturities: U.S. government obligations and agencies 11 $ 70,453 $ (608 ) 2 $ 3,504 $ (62 ) Corporate bonds 116 96,379 (1,219 ) 4 3,250 (80 ) Mortgage-backed and asset-backed securities 73 149,928 (1,923 ) 5 9,660 (115 ) Municipal bonds 69 79,402 (3,726 ) — — — Redeemable preferred stock 50 6,340 (158 ) — — — Equity Securities: Common stock 1 18 (7 ) 2 75 (115 ) Mutual funds 3 28,020 (774 ) 2 11,529 (2,823 ) Total 323 $ 430,540 $ (8,415 ) 15 $ 28,018 $ (3,195 ) Evaluating Investments for Other Than Temporary Impairment (“OTTI”) At September 30, 2017, the Company held fixed maturity and equity securities that were in an unrealized loss position as presented in the table above. For fixed maturity securities with significant declines in value, the Company performs quarterly fundamental credit analysis on a security-by-security basis, which includes consideration of credit quality and credit ratings, review of relevant industry analyst reports and other available market data. For fixed maturity and equity securities the Company considers whether it has the intent and ability to hold the securities for a period of time sufficient to recover its cost basis. Where the Company lacks the intent and ability to hold to recovery, or believes the recovery period is extended, the security’s decline in fair value is considered other than temporary and is recorded in earnings. Based on our analysis, we believe that our fixed income portfolio is of high quality and that we will recover the amortized cost basis of our fixed income securities. We continually monitor the credit quality of our fixed income investments to assess if it is probable that we will receive our contractual or estimated cash flows in the form of principal and interest. Additionally, the Company considers management’s intent and ability to hold the securities until recovery and its credit analysis of the individual issuers of the securities. Based on this process and analysis, management has no reason to believe the unrealized losses for securities available for sale at September 30, 2017 are other than temporary. As of September 30, 2017, the Company held approximately $9.2 million equity securities that were in an unrealized loss position twelve months or longer. The unrealized loss on these equity securities was $2.1 million. Based on our analysis, the Company believes each equity security will recover in a reasonable period of time and the Company has the intent and ability to hold them until recovery. There were no OTTI losses recognized in the periods presented on the equity portfolio. The following table presents the amortized cost and fair value of investments with contractual maturities as of the date presented (in thousands): September 30, 2017 Cost or Amortized Fair Value Due in one year or less $ 42,233 $ 42,233 Due after one year through five years 229,841 229,898 Due after five years through ten years 47,716 47,879 Due after ten years 58,110 57,127 Mortgage-backed and asset-backed securities 219,321 218,098 Perpetual maturity securities 13,336 13,944 Total $ 610,557 $ 609,179 Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay with or without penalty. The following table provides certain information related to securities available for sale during the periods presented (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Proceeds from sales and maturities (fair value) $ 67,818 $ 23,744 $ 175,440 $ 188,896 Gross realized gains $ 849 $ 107 $ 2,662 $ 1,369 Gross realized losses $ (46 ) $ (6 ) $ (212 ) $ (25 ) The following table presents the components of net investment income, comprised primarily of interest and dividends, for the periods presented (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Fixed maturities $ 2,977 $ 2,456 $ 8,893 $ 6,447 Equity securities 348 223 1,068 666 Short-term investments — 15 22 60 Other (1) 319 166 651 603 Total investment income 3,644 2,860 10,634 7,776 Less: Investment expenses (2) (559 ) (556 ) (1,622 ) (1,725 ) Net investment (expense) income $ 3,085 $ 2,304 $ 9,012 $ 6,051 (1) Includes interest earned on cash and cash equivalents and restricted cash and cash equivalents. Also includes investment income earned on real estate investments. (2) Includes investment accounting and advisory fees, and expenses associated with real estate investments. Investment Real Estate Investment real estate consisted of the following as of the dates presented (in thousands): September 30, 2017 December 31, 2016 Income Producing: Investment real estate $ 6,918 $ 6,918 Less: Accumulated depreciation (415 ) (281 ) 6,503 6,637 Non-Income Producing: Properties under development 9,821 4,798 Investment real estate, net $ 16,324 $ 11,435

Reinsurance

Reinsurance	9 Months Ended
	Sep. 30, 2017
Insurance [Abstract]
Reinsurance	4. Reinsurance The Company seeks to reduce its risk of loss by reinsuring certain levels of risk in various areas of exposure with other insurance enterprises or reinsurers, generally as of the beginning of the hurricane season on June 1st of each year. The Company’s current reinsurance program consists of catastrophe excess of loss reinsurance, subject to the terms and conditions of the applicable agreements. The Company is responsible for insured losses related to catastrophes and other events in excess of coverage provided by its reinsurance program. The Company remains responsible for the settlement of insured losses irrespective of the ability of any of its reinsurers to make payments otherwise due to the Company. Amounts recoverable from reinsurers are estimated in a manner consistent with the terms of the reinsurance contracts. Reinsurance premiums, losses and loss adjustment expenses (“LAE”) are accounted for on a basis consistent with those used in accounting for the original policies issued and the terms of the reinsurance contracts. In order to reduce credit risk for amounts due from reinsurers, the Insurance Entities seek to do business with financially sound reinsurance companies and regularly evaluate the financial strength of all reinsurers used. The following table presents ratings from rating agencies and the unsecured amounts due from the Company’s reinsurers whose aggregate balance exceeded 3% of the Company’s stockholders’ equity as of the dates presented (in thousands): Ratings as of September 30, 2017 Due from as of Standard and Poor's Moody's AM Best Rating Investors September 30, December 31, Reinsurer Company Services Service, Inc. 2017 2016 Allianz Risk Transfer A+ AA- n/a $ 186,479 $ — AXIS Specialty Limited A+ A+ A2 16,929 — Everest Reinsurance Company A+ A+ A1 63,104 — Florida Hurricane Catastrophe Fund (1) n/a n/a n/a — 46,364 Renaissance Reinsurance Ltd A+ AA- A1 30,604 — Total (2) $ 297,116 $ 46,364 (1) No rating is available, because the fund is not rated. (2) Amounts represent prepaid reinsurance premiums, reinsurance receivables, net recoverables for paid and unpaid losses, including incurred but not reported reserves, loss adjustment expenses, and offsetting reinsurance payables . The Company’s reinsurance arrangements had the following effect on certain items in the Condensed Consolidated Statements of Income for the periods presented (in thousands): Three Months Ended September 30, 2017 2016 Losses and Loss Losses and Loss Premiums Premiums Adjustment Premiums Premiums Adjustment Written Earned Expenses Written Earned Expenses Direct $ 274,744 $ 254,809 $ 531,268 $ 241,888 $ 234,500 $ 73,487 Ceded (7,303 ) (80,292 ) (414,893 ) (151,432 ) (74,966 ) 61 Net $ 267,441 $ 174,517 $ 116,375 $ 90,456 $ 159,534 $ 73,548 Nine Months Ended September 30, 2017 2016 Losses and Loss Losses and Loss Premiums Premiums Adjustment Premiums Premiums Adjustment Written Earned Expenses Written Earned Expenses Direct $ 816,350 $ 735,807 $ 687,707 $ 741,782 $ 682,571 $ 198,069 Ceded (318,827 ) (230,722 ) (420,578 ) (298,365 ) (214,128 ) 1,680 Net $ 497,523 $ 505,085 $ 267,129 $ 443,417 $ 468,443 $ 199,749 The following prepaid reinsurance premiums and reinsurance recoverable (payable) and receivable are reflected in the Condensed Consolidated Balance Sheets as of the dates presented (in thousands): September 30, December 31, 2017 2016 Prepaid reinsurance premiums $ 212,489 $ 124,385 Reinsurance recoverable on unpaid losses and LAE $ 412,697 $ 106 Reinsurance recoverable (payable) on paid losses — (1,532 ) Reinsurance receivable, net — 186 Reinsurance recoverable (payable) and receivable $ 412,697 $ (1,240 )

Insurance Operations

Insurance Operations	9 Months Ended
	Sep. 30, 2017
Insurance [Abstract]
Insurance Operations	5. Insurance Operations Deferred Policy Acquisition Costs The Company defers certain costs in connection with written policies, called Deferred Policy Acquisition Costs (“DPAC”). DPAC is amortized over the effective period of the related insurance policies. The following table presents the beginning and ending balances and the changes in DPAC for the periods presented (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 DPAC, beginning of period $ 73,591 $ 67,190 $ 64,912 $ 60,019 Capitalized Costs 36,999 33,227 110,653 100,444 Amortization of DPAC (34,656 ) (32,117 ) (99,631 ) (92,163 ) DPAC, end of period $ 75,934 $ 68,300 $ 75,934 $ 68,300 Regulatory Requirements and Restrictions The Insurance Entities are subject to regulations and standards of the Florida Office of Insurance Regulation (“FLOIR”). UPCIC also is subject to regulations and standards of regulatory authorities in other states where it is licensed, although as a Florida-domiciled insurer, its principal regulatory authority is the FLOIR. These standards require the Insurance Entities to maintain specified levels of statutory capital and restrict the timing and amount of dividends and other distributions that may be paid by the Insurance Entities to the parent company. Except in the case of extraordinary dividends, these standards generally permit dividends to be paid from statutory unassigned surplus of the regulated subsidiary and are limited based on the regulated subsidiary’s level of statutory net income and statutory capital and surplus. The maximum dividend that may be paid by UPCIC and APPCIC to their immediate parent company, Universal Insurance Holding Company of Florida (“UVECF”), without prior regulatory approval is limited by the provisions of Florida Statutes. These dividends are referred to as “ordinary dividends.” However, if an ordinary dividend, together with other dividends paid within the preceding twelve months, exceeds this statutory limit or is paid from sources other than earned surplus, the entire dividend is generally considered an “extraordinary dividend” and must receive prior regulatory approval. In accordance with Florida Statutes, UPCIC has the capacity to pay ordinary dividends of $57.7 million during 2017. o The Florida Insurance Code requires insurance companies to maintain capitalization equivalent to the greater of ten percent of the insurer’s total liabilities or $10.0 million. The following table presents the amount of capital and surplus calculated in accordance with statutory accounting principles, which differ from U.S. GAAP, and an amount representing ten percent of total liabilities for both UPCIC and APPCIC as of the dates presented (in thousands): September 30, December 31, 2017 2016 Ten percent of total liabilities UPCIC $ 82,923 $ 57,560 APPCIC $ 655 $ 464 Statutory capital and surplus UPCIC $ 319,304 $ 313,753 APPCIC $ 16,389 $ 17,280 As of the dates in the table above, both UPCIC and APPCIC exceeded the minimum capitalization requirement. UPCIC also met the capitalization requirements of the other states in which it is licensed as of September 30, 2017. UPCIC and APPCIC are also required to adhere to prescribed premium-to-capital surplus ratios and have met those requirements at such dates. The Insurance Entities are required by various state laws and regulations to maintain certain assets in depository accounts. The following table represents assets held by insurance regulators as of the dates presented (in thousands): September 30, December 31, 2017 2016 Restricted cash and cash equivalents $ 2,635 $ 2,635 Investments $ 3,922 $ 3,952

Liability for Unpaid Losses and

Liability for Unpaid Losses and Loss Adjustment Expenses	9 Months Ended
	Sep. 30, 2017
Insurance Loss Reserves [Abstract]
Liability for Unpaid Losses and Loss Adjustment Expenses	6. Set forth in the following table is the change in liability for unpaid losses and LAE for the periods presented (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Balance at beginning of period $ 22,645 $ 60,144 $ 58,494 $ 98,840 Less: Reinsurance recoverable (1,393 ) (2,958 ) (106 ) (13,540 ) Net balance at beginning of period 21,252 57,186 58,388 85,300 Incurred (recovered) related to: Current year 116,262 73,721 265,811 199,907 Prior years 113 (173 ) 1,318 (158 ) Total incurred 116,375 73,548 267,129 199,749 Paid related to: Current year 93,969 73,352 179,000 146,012 Prior years 15,912 5,077 118,771 86,732 Total paid 109,881 78,429 297,771 232,744 Net balance at end of period 27,746 52,305 27,746 52,305 Plus: Reinsurance recoverable 412,697 1,904 412,697 1,904 Balance at end of period $ 440,443 $ 54,209 $ 440,443 $ 54,209

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Long-Term Debt	7. Long-Term Debt Long-term debt consists of the following as of the dates presented (in thousands): September 30, December 31, 2017 2016 Surplus note $ 13,235 $ 14,338 Promissory note — 690 Total $ 13,235 $ 15,028 UPCIC was in compliance with the terms of the surplus note as of September 30, 2017.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Stockholders' Equity	8. Stockholders’ Equity Common Stock The following table summarizes the activity relating to shares of the Company’s common stock during the nine months ended September 30, 2017 (in thousands): Issued Treasury Outstanding Shares Shares Shares Balance, as of December 31, 2016 45,324 (10,272 ) 35,052 Shares repurchased — (761 ) (761 ) Vesting of performance share units 115 — 115 Stock option exercises 71 — 71 Common stock issued 26 — 26 Shares acquired through cashless exercise (1) — (63 ) (63 ) Shares cancelled (63 ) 63 — Balance, as of September 30, 2017 45,473 (11,033 ) 34,440 (1) All shares acquired represent shares tendered to cover the strike price for options and tax withholdings on the intrinsic value of options exercised or performance share units vested. These shares have been cancelled by the Company. In June 2016, UVE announced that its Board of Directors authorized a share repurchase program under which UVE may repurchase in the open market in compliance with Exchange Act Rule 10b-18 up to $20 million of its outstanding shares of common stock through December 31, 2017. During the nine months ended September 30, 2017, UVE repurchased 760,559 shares, at an aggregate price of approximately $17.9 million, pursuant to such repurchase program. In September 2017, the Board of Directors authorized a share repurchase program under which UVE may repurchase in the open market in compliance with Exchange Act Rule 10b-18 up to $20 million of its outstanding shares of common stock through December 31, 2018. There were no shares of common stock repurchased under this program in September 2017. Dividends On January 23, 2017, UVE declared a cash dividend of $0.14 per share on its outstanding common stock paid on March 2, 2017, to the shareholders of record at the close of business on February 17, 2017. On April 12, 2017, UVE declared a cash dividend of $0.14 per share on its outstanding common stock paid on July 3, 2017, to the shareholders of record at the close of business on June 14, 2017. On August 31, 2017, UVE declared a cash dividend of $0.14 per share on its outstanding common stock payable on October 24, 2017, to the shareholders of record at the close of business on September 12, 2017.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	9. Income Taxes During the three months ended September 30, 2017 and 2016, the Company recorded approximately $6.6 million and $17.3 million of income tax expense, respectively. The effective tax rate for the three months ended September 30, 2017 was 40.0% compared to a 39.1% effective tax rate for the same period in the prior year. During the nine months ended September 30, 2017 and 2016, the Company recorded approximately $41.4 million and $54.4 million of income tax expense, respectively. The effective tax rate for the nine months ended September 30, 2017 was 37.0% compared to a 38.8% effective tax rate for the same period in the prior year. During the nine months ended September 30, 2017, the Company’s excess tax benefit of $0.8 million was reflected as an income tax benefit in the condensed consolidated statements of income as a component of the provision for income taxes as a result of the adoption of the accounting guidance for share-based payment transactions. See “Note 2 – Significant Accounting Policies – Recently Adopted Accounting Pronouncements” for more information. In addition, during the nine months ended September 30, 2017, the Company recorded another discrete item as a credit to income tax expense of $1.2 million resulting from anticipated recoveries of income taxes paid for the 2014-2015 tax years. In arriving at these rates, the Company considers a variety of factors including the forecasted full year pre-tax results, the U.S. federal tax rate of 35%, The Company files its tax returns as prescribed by the tax laws of the jurisdictions in which it operates. The Company’s 2014 through 2016 tax years are still subject to examination by the Internal Revenue Service and v arious tax years remain open to examination in certain state jurisdictions.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share	10. Earnings Per Share Basic earnings per share (“EPS”) is based on the weighted average number of common shares outstanding for the period, excluding any dilutive common share equivalents. Diluted EPS reflects the potential dilution resulting from the exercise of stock options, vesting of restricted stock, vesting of performance share units, and conversion of preferred stock. The following table reconciles the numerator (i.e., income) and denominator (i.e., shares) of the basic and diluted earnings per share computations for the periods presented (in thousands, except per share data): Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Numerator for EPS: Net income $ 9,964 $ 26,882 $ 70,539 $ 85,756 Less: Preferred stock dividends (3 ) (3 ) (8 ) (8 ) Income available to common stockholders $ 9,961 $ 26,879 $ 70,531 $ 85,748 Denominator for EPS: Weighted average common shares outstanding 34,686 35,042 34,927 34,878 Plus: Assumed conversion of stock-based compensation (1) 904 656 965 691 Assumed conversion of preferred stock 25 25 25 25 Weighted average diluted common shares outstanding 35,615 35,723 35,917 35,594 Basic earnings per common share $ 0.29 $ 0.77 $ 2.02 $ 2.46 Diluted earnings per common share $ 0.28 $ 0.75 $ 1.96 $ 2.41 (1) Represents the dilutive effect of unvested Restricted Stock, unvested Performance Share Units and unexercised Stock Options.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Other Comprehensive Income (Loss)	11. Other Comprehensive Income (Loss) The following table provides the components of other comprehensive income (loss) on a pre-tax and after-tax basis for the periods presented (in thousands): Three Months Ended September 30, 2017 2016 Pre-tax Tax After-tax Pre-tax Tax After-tax Net unrealized gains (losses) on investments available for sale arising during the period $ 1,207 $ 461 $ 746 $ (694 ) $ (265 ) $ (429 ) Less: Amounts reclassified from accumulated other comprehensive income (loss) (803 ) (308 ) (495 ) (101 ) (39 ) (62 ) Net current period other comprehensive income (loss) $ 404 $ 153 $ 251 $ (795 ) $ (304 ) $ (491 ) Nine Months Ended September 30, 2017 2016 Pre-tax Tax After-tax Pre-tax Tax After-tax Net unrealized gains (losses) on investments available for sale arising during the period $ 9,248 $ 3,535 $ 5,713 $ 10,460 $ 3,998 $ 6,462 Less: Amounts reclassified from accumulated other comprehensive income (loss) (2,450 ) (938 ) (1,512 ) (1,344 ) (513 ) (831 ) Net current period other comprehensive income (loss) $ 6,798 $ 2,597 $ 4,201 $ 9,116 $ 3,485 $ 5,631 The following table provides the reclassifications out of accumulated other comprehensive income for the periods presented (in thousands): Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) Details about Accumulated Other Three Months Ended September 30, Nine Months Ended September 30, Affected Line Item in the Statement Comprehensive Income (Loss) Components 2017 2016 2017 2016 Where Net Income is Presented Unrealized gains (losses) on investments available for sale $ 803 $ 101 $ 2,450 $ 1,344 Net realized gains (losses) on investments (308 ) (39 ) (938 ) (513 ) Income taxes $ 495 $ 62 $ 1,512 $ 831 Net of tax

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies Litigation Lawsuits are filed against the Company from time to time. Many of these lawsuits involve claims under policies that we underwrite and reserve for as an insurer. We believe that the resolution of these claims will not have a material adverse effect on our financial condition or results of operations. We are also involved in various other legal proceedings and litigation unrelated to claims under our policies that arise in the ordinary course of business operations. Management believes that any liabilities that may arise as a result of these legal matters will not have a material adverse effect on our financial condition or results of operations. The Company contests liability and/or the amount of damages as appropriate in each pending matter. In accordance with applicable accounting guidance, the Company establishes an accrued liability for legal matters when those matters present loss contingencies that are both probable and estimable. Legal proceedings are subject to many uncertain factors that generally cannot be predicted with assurance, and the Company may be exposed to losses in excess of any amounts accrued. The Company currently estimates that the reasonably possible losses for legal proceedings, whether in excess of a related accrued liability or where there is no accrued liability, and for which the Company is able to estimate a possible loss, are immaterial. This represents management’s estimate of possible loss with respect to these matters and is based on currently available information. These estimates of possible loss do not represent our maximum loss exposure, and actual results may vary significantly from current estimates.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	13. Fair Value Measurements GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. GAAP describes three approaches to measuring the fair value of assets and liabilities: the market approach, the income approach and the cost approach. Each approach includes multiple valuation techniques. GAAP does not prescribe which valuation technique should be used when measuring fair value, but does establish a fair value hierarchy that prioritizes the inputs used in applying the various techniques. Inputs broadly refer to the assumptions that market participants use to make pricing decisions, including assumptions about risk. Level 1 inputs are given the highest priority in the hierarchy while Level 3 inputs are given the lowest priority. Assets and liabilities carried at fair value are classified in one of the following three categories based on the nature of the inputs to the valuation technique used: • Level 1 — Observable inputs that reflect unadjusted quoted prices for identical assets or liabilities in active markets as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. • Level 2 — Observable market-based inputs or unobservable inputs that are corroborated by market data. • Level 3 — Unobservable inputs that are not corroborated by market data. These inputs reflect management’s best estimate of fair value using its own assumptions about the assumptions a market participant would use in pricing the asset or liability. Summary of significant valuation techniques for assets measured at fair value on a recurring basis Level 1 Common stock: Comprise actively traded, exchange-listed U.S. and international equity securities. Valuation is based on unadjusted quoted prices for identical assets in active markets that the Company can access. Mutual funds: Comprise actively traded funds. Valuation is based on daily quoted net asset values for identical assets in active markets that the Company can access. Level 2 U.S. government obligations and agencies: Comprise U.S. Treasury Bills or Notes or U.S. Treasury Inflation Protected Securities. The primary inputs to the valuation include quoted prices for identical assets in inactive markets or similar assets in active or inactive markets, contractual cash flows, benchmark yields and credit spreads. Corporate bonds: Comprise investment-grade fixed income securities. The primary inputs to the valuation include quoted prices for identical assets in inactive markets or similar assets in active or inactive markets, contractual cash flows, benchmark yields and credit spreads. Mortgage-backed and asset-backed securities: Comprise securities that are collateralized by mortgage obligations and other assets. The primary inputs to the valuation include quoted prices for identical assets in inactive markets or similar assets in active or inactive markets, contractual cash flows, benchmark yields, collateral performance and credit spreads. Municipal bonds: Comprise fixed income securities issued by a state, municipality or county. The primary inputs to the valuation include quoted prices for identical assets in inactive markets or similar assets in active or inactive markets, contractual cash flows, benchmark yields and credit spreads. Redeemable preferred stock: Comprise preferred stock securities that are redeemable. The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active. Short-term investments: Comprise investment securities subject to re-measurement with original maturities within one year but more than three months. The primary inputs to the valuation include quoted prices for identical or similar assets in markets that are not active. As required by GAAP, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the placement of the asset or liability within the fair value hierarchy levels. The following tables set forth by level within the fair value hierarchy the Company’s assets that were measured at fair value including those on a recurring basis as of the dates presented (in thousands): Fair Value Measurements September 30, 2017 Level 1 Level 2 Level 3 Total Fixed Maturities: U.S. government obligations and agencies $ — $ 55,016 $ — $ 55,016 Corporate bonds — 215,831 — 215,831 Mortgage-backed and asset-backed securities — 218,098 — 218,098 Municipal bonds — 106,290 — 106,290 Redeemable preferred stock — 13,944 — 13,944 Equity Securities: Common stock 5,683 — — 5,683 Mutual funds 20,392 — — 20,392 Total assets accounted for at fair value $ 26,075 $ 609,179 $ — $ 635,254 Fair Value Measurements December 31, 2016 Level 1 Level 2 Level 3 Total Fixed Maturities: U.S. government obligations and agencies $ — $ 74,267 $ — $ 74,267 Corporate bonds — 191,430 — 191,430 Mortgage-backed and asset-backed securities — 214,776 — 214,776 Municipal bonds — 91,197 — 91,197 Redeemable preferred stock — 12,691 — 12,691 Equity Securities: Common stock 93 — — 93 Mutual funds 50,710 — — 50,710 Short-term investments — 5,002 — 5,002 Total assets accounted for at fair value $ 50,803 $ 589,363 $ — $ 640,166 The Company utilizes third-party independent pricing services that provide a price quote for each fixed maturity, equity security and short-term investment. Management reviews the methodology used by the pricing services. If management believes that the price used by the pricing service does not reflect an orderly transaction between participants, management will use an alternative valuation methodology. There were no adjustments made by the Company to the prices obtained from the independent pricing source for any fixed maturities or equity securities included in the tables above. The following table summarizes the carrying value and estimated fair values of the Company’s financial instruments that are not carried at fair value as of the dates presented (in thousands): September 30, 2017 December 31, 2016 (Level 3) (Level 3) Estimated Estimated Carrying Value Carrying Value Liabilities (debt): Surplus note $ 13,235 $ 11,949 $ 14,338 $ 13,282 Promissory note $ — $ — $ 690 $ 690 Level 3 Long-term debt: The fair value of the surplus note was determined by management from the expected cash flows discounted using the interest rate quoted by the holder. The State Board of Administration of Florida (“SBA”) is the holder of the surplus note and the quoted interest rate is below prevailing rates quoted by private lending institutions. However, as the Company’s use of funds from the surplus note is limited by the terms of the agreement, the Company has determined the interest rate quoted by the SBA to be appropriate for purposes of establishing the fair value of the note. The fair value of the promissory note is not materially different than its carrying value.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	14. Subsequent Events The Company performed an evaluation of subsequent events through the date the Financial Statements were issued and determined there were no recognized or unrecognized subsequent events that would require an adjustment or additional disclosure in the Financial Statements as of September 30, 2017.

Nature of Operations and Basi21

Nature of Operations and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company has prepared the accompanying unaudited Condensed Consolidated Financial Statements (“Financial Statements”) in accordance with the rules and regulations of the United States Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, the Financial Statements do not include all of the information and footnotes required by United States Generally Accepted Accounting Principles (“GAAP”) for annual financial statements. Therefore, the Financial Statements should be read in conjunction with the audited Consolidated Financial Statements contained in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016, filed with the SEC on February 24, 2017. The condensed consolidated balance sheet at December 31, 2016, was derived from audited financial statements, but does not include all disclosures required by GAAP. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation have been included in the Financial Statements. The results for interim periods do not necessarily indicate the results that may be expected for any other interim period or for the full year. To conform to the current period presentation, certain amounts in the prior periods’ consolidated financial statements and notes have been reclassified. Such reclassifications were of an immaterial amount and had no effect on net income or stockholders’ equity. The Financial Statements include the accounts of UVE and its wholly-owned subsidiaries. All material intercompany balances and transactions have been eliminated in consolidation. Management must make estimates and assumptions that affect amounts reported in the Company’s Financial Statements and in disclosures of contingent assets and liabilities. Actual results could differ from those estimates.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (“FASB”) issued guidance which simplifies several aspects of the accounting for share-based payment transactions. The new guidance requires excess income tax benefits (windfalls) and deficiencies (shortfalls) to be recognized in the income statement as income tax benefits or charges when the awards vest or are settled. The former guidance required the recognition of excess tax benefits or deficiencies in stockholders’ equity. In addition, all income tax-related cash flows resulting from share-based payments will be reported as operating activities in the statement of cash flows under the new guidance. The guidance also allows us to repurchase more of an employee's shares for tax withholding purposes without triggering liability accounting; clarifies that all cash payments for tax withholdings made on an employee’s behalf should be presented as a financing activity on the Company’s statement of cash flows; and provides an accounting policy election to account for forfeitures as they occur. The guidance is effective for fiscal years and interim periods beginning after December 15, 2016, with early adoption permitted. The Company adopted this guidance effective January 1, 2017. The adoption of the new standard resulted in the recognition of excess tax benefit of $0.8 million reflected in the Company’s Condensed Consolidated Statements of Income as an income tax benefit for the nine months ended September 30, 2017. Additionally, excess tax benefits on the Company’s Condensed Consolidated Statement of Cash Flows are presented as an operating activity on a prospective basis. The presentation requirement for cash flows related to employee taxes paid for withheld shares did not impact any of the periods presented in the Company’s Condensed Consolidated Statement of Cash Flows since these cash flows have historically been presented as a financing activity. The Company will continue to account for forfeitures as they occur. The standard also modifies the calculation of dilutive earnings per share to no longer use proceeds from tax benefits or deficiencies.

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2017
Investments Debt And Equity Securities [Abstract]
Cost or Amortized Cost and Fair Value of Securities Available for Sale	The following table provides the cost or amortized cost and fair value of securities available for sale as of the dates presented (in thousands): September 30, 2017 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Fixed Maturities: U.S. government obligations and agencies $ 55,519 $ 21 $ (524 ) $ 55,016 Corporate bonds 215,455 883 (507 ) 215,831 Mortgage-backed and asset-backed securities 219,321 110 (1,333 ) 218,098 Municipal bonds 106,926 706 (1,342 ) 106,290 Redeemable preferred stock 13,336 631 (23 ) 13,944 Equity Securities: Common stock 5,992 — (309 ) 5,683 Mutual funds 22,316 143 (2,067 ) 20,392 Total $ 638,865 $ 2,494 $ (6,105 ) $ 635,254 December 31, 2016 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Fixed Maturities: U.S. government obligations and agencies $ 74,937 $ — $ (670 ) $ 74,267 Corporate bonds 192,328 402 (1,300 ) 191,430 Mortgage-backed and asset-backed securities 216,679 135 (2,038 ) 214,776 Municipal bonds 94,794 130 (3,727 ) 91,197 Redeemable preferred stock 12,723 125 (157 ) 12,691 Equity Securities: Common stock 214 — (121 ) 93 Mutual funds 53,900 407 (3,597 ) 50,710 Short-term investments 5,000 2 — 5,002 Total $ 650,575 $ 1,201 $ (11,610 ) $ 640,166
Schedule of Credit Quality of Investment Securities With Contractual Maturities or The Issuer of Such Securities	The following table provides the credit quality of investment securities with contractual maturities or the issuer of such securities as of the dates presented (in thousands): September 30, 2017 December 31, 2016 % of Total % of Total Comparable Ratings Fair Value Fair Value Fair Value Fair Value AAA $ 130,119 21.4 % $ 131,260 22.3 % AA 268,056 44.0 % 275,480 46.7 % A 122,808 20.2 % 107,418 18.2 % BBB 79,950 13.1 % 67,263 11.4 % BB+ and Below 3,738 0.6 % 3,444 0.6 % No Rating Available 4,508 0.7 % 4,498 0.8 % Total $ 609,179 100.0 % $ 589,363 100.0 % The tables above include comparable credit quality ratings by Standard and Poor’s Rating Services, Inc., Moody’s Investors Service, Inc. and Fitch Ratings, Inc.
Schedule of Amortized Cost and Fair Value on Mortgage-Backed and Asset-Backed Securities	The following table summarizes the cost or amortized cost and fair value of mortgage-backed and asset-backed securities as of the dates presented (in thousands): September 30, 2017 December 31, 2016 Cost or Cost or Amortized Amortized Cost Fair Value Cost Fair Value Mortgage-backed Securities: Agency $ 119,469 $ 118,387 $ 110,724 $ 109,022 Non-agency 15,418 15,334 19,408 19,265 Asset-backed Securities: Auto loan receivables 36,989 36,959 37,390 37,429 Credit card receivables 35,869 35,846 38,640 38,568 Other receivables 11,576 11,572 10,517 10,492 Total $ 219,321 $ 218,098 $ 216,679 $ 214,776
Summarized Fair Value and Gross Unrealized Losses on Securities Available for Sale	The following table summarizes the fair value and gross unrealized losses on securities available for sale, aggregated by major investment category and length of time that individual securities have been in a continuous unrealized loss position as of the dates presented (dollars in thousands): September 30, 2017 Less Than 12 Months 12 Months or Longer Number of Unrealized Number of Unrealized Issues Fair Value Losses Issues Fair Value Losses Fixed Maturities: U.S. government obligations and agencies 10 $ 47,102 $ (404 ) 4 $ 4,345 $ (120 ) Corporate bonds 100 76,577 (410 ) 11 7,105 (97 ) Mortgage-backed and asset-backed securities 90 146,458 (1,196 ) 8 13,063 (137 ) Municipal bonds 43 46,363 (601 ) 15 24,714 (741 ) Redeemable preferred stock 13 1,518 (19 ) 1 107 (4 ) Equity Securities: Common stock 2 5,683 (309 ) — — — Mutual funds 5 293 (2 ) 2 9,202 (2,065 ) Total 263 $ 323,994 $ (2,941 ) 41 $ 58,536 $ (3,164 ) December 31, 2016 Less Than 12 Months 12 Months or Longer Number of Unrealized Number of Unrealized Issues Fair Value Losses Issues Fair Value Losses Fixed Maturities: U.S. government obligations and agencies 11 $ 70,453 $ (608 ) 2 $ 3,504 $ (62 ) Corporate bonds 116 96,379 (1,219 ) 4 3,250 (80 ) Mortgage-backed and asset-backed securities 73 149,928 (1,923 ) 5 9,660 (115 ) Municipal bonds 69 79,402 (3,726 ) — — — Redeemable preferred stock 50 6,340 (158 ) — — — Equity Securities: Common stock 1 18 (7 ) 2 75 (115 ) Mutual funds 3 28,020 (774 ) 2 11,529 (2,823 ) Total 323 $ 430,540 $ (8,415 ) 15 $ 28,018 $ (3,195 )
Amortized Cost and Fair Value of Investments With Contractual Maturities	The following table presents the amortized cost and fair value of investments with contractual maturities as of the date presented (in thousands): September 30, 2017 Cost or Amortized Fair Value Due in one year or less $ 42,233 $ 42,233 Due after one year through five years 229,841 229,898 Due after five years through ten years 47,716 47,879 Due after ten years 58,110 57,127 Mortgage-backed and asset-backed securities 219,321 218,098 Perpetual maturity securities 13,336 13,944 Total $ 610,557 $ 609,179
Summary of Securities Available for Sale	The following table provides certain information related to securities available for sale during the periods presented (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Proceeds from sales and maturities (fair value) $ 67,818 $ 23,744 $ 175,440 $ 188,896 Gross realized gains $ 849 $ 107 $ 2,662 $ 1,369 Gross realized losses $ (46 ) $ (6 ) $ (212 ) $ (25 )
Investment Income (Expense) Comprised Primarily of Interest and Dividends	The following table presents the components of net investment income, comprised primarily of interest and dividends, for the periods presented (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Fixed maturities $ 2,977 $ 2,456 $ 8,893 $ 6,447 Equity securities 348 223 1,068 666 Short-term investments — 15 22 60 Other (1) 319 166 651 603 Total investment income 3,644 2,860 10,634 7,776 Less: Investment expenses (2) (559 ) (556 ) (1,622 ) (1,725 ) Net investment (expense) income $ 3,085 $ 2,304 $ 9,012 $ 6,051 (1) Includes interest earned on cash and cash equivalents and restricted cash and cash equivalents. Also includes investment income earned on real estate investments. (2) Includes investment accounting and advisory fees, and expenses associated with real estate investments.
Schedule of Real Estate Investment	Investment real estate consisted of the following as of the dates presented (in thousands): September 30, 2017 December 31, 2016 Income Producing: Investment real estate $ 6,918 $ 6,918 Less: Accumulated depreciation (415 ) (281 ) 6,503 6,637 Non-Income Producing: Properties under development 9,821 4,798 Investment real estate, net $ 16,324 $ 11,435

Reinsurance (Tables)

Reinsurance (Tables)	9 Months Ended
	Sep. 30, 2017
Insurance [Abstract]
Current Ratings from Rating Agencies and Unsecured Net Amounts Due from Reinsurers Whose Aggregate Balance Exceeded 3% of Stockholders' Equity	The following table presents ratings from rating agencies and the unsecured amounts due from the Company’s reinsurers whose aggregate balance exceeded 3% of the Company’s stockholders’ equity as of the dates presented (in thousands): Ratings as of September 30, 2017 Due from as of Standard and Poor's Moody's AM Best Rating Investors September 30, December 31, Reinsurer Company Services Service, Inc. 2017 2016 Allianz Risk Transfer A+ AA- n/a $ 186,479 $ — AXIS Specialty Limited A+ A+ A2 16,929 — Everest Reinsurance Company A+ A+ A1 63,104 — Florida Hurricane Catastrophe Fund (1) n/a n/a n/a — 46,364 Renaissance Reinsurance Ltd A+ AA- A1 30,604 — Total (2) $ 297,116 $ 46,364 (1) No rating is available, because the fund is not rated. (2) Amounts represent prepaid reinsurance premiums, reinsurance receivables, net recoverables for paid and unpaid losses, including incurred but not reported reserves, loss adjustment expenses, and offsetting reinsurance payables .
Summary of Effects of Reinsurance Arrangements	The Company’s reinsurance arrangements had the following effect on certain items in the Condensed Consolidated Statements of Income for the periods presented (in thousands): Three Months Ended September 30, 2017 2016 Losses and Loss Losses and Loss Premiums Premiums Adjustment Premiums Premiums Adjustment Written Earned Expenses Written Earned Expenses Direct $ 274,744 $ 254,809 $ 531,268 $ 241,888 $ 234,500 $ 73,487 Ceded (7,303 ) (80,292 ) (414,893 ) (151,432 ) (74,966 ) 61 Net $ 267,441 $ 174,517 $ 116,375 $ 90,456 $ 159,534 $ 73,548 Nine Months Ended September 30, 2017 2016 Losses and Loss Losses and Loss Premiums Premiums Adjustment Premiums Premiums Adjustment Written Earned Expenses Written Earned Expenses Direct $ 816,350 $ 735,807 $ 687,707 $ 741,782 $ 682,571 $ 198,069 Ceded (318,827 ) (230,722 ) (420,578 ) (298,365 ) (214,128 ) 1,680 Net $ 497,523 $ 505,085 $ 267,129 $ 443,417 $ 468,443 $ 199,749
Prepaid Reinsurance Premiums and Reinsurance Recoverable (Payable) and Receivable	The following prepaid reinsurance premiums and reinsurance recoverable (payable) and receivable are reflected in the Condensed Consolidated Balance Sheets as of the dates presented (in thousands): September 30, December 31, 2017 2016 Prepaid reinsurance premiums $ 212,489 $ 124,385 Reinsurance recoverable on unpaid losses and LAE $ 412,697 $ 106 Reinsurance recoverable (payable) on paid losses — (1,532 ) Reinsurance receivable, net — 186 Reinsurance recoverable (payable) and receivable $ 412,697 $ (1,240 )

Insurance Operations (Tables)

Insurance Operations (Tables)	9 Months Ended
	Sep. 30, 2017
Insurance [Abstract]
Beginning and Ending Balances and Changes in DPAC	The following table presents the beginning and ending balances and the changes in DPAC for the periods presented (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 DPAC, beginning of period $ 73,591 $ 67,190 $ 64,912 $ 60,019 Capitalized Costs 36,999 33,227 110,653 100,444 Amortization of DPAC (34,656 ) (32,117 ) (99,631 ) (92,163 ) DPAC, end of period $ 75,934 $ 68,300 $ 75,934 $ 68,300
Statutory Capital and Surplus, and an Amount Representing Ten Percent of Total Liabilities for both UPCIC and APPCIC	The following table presents the amount of capital and surplus calculated in accordance with statutory accounting principles, which differ from U.S. GAAP, and an amount representing ten percent of total liabilities for both UPCIC and APPCIC as of the dates presented (in thousands): September 30, December 31, 2017 2016 Ten percent of total liabilities UPCIC $ 82,923 $ 57,560 APPCIC $ 655 $ 464 Statutory capital and surplus UPCIC $ 319,304 $ 313,753 APPCIC $ 16,389 $ 17,280
Assets Held by Insurance Regulators	The following table represents assets held by insurance regulators as of the dates presented (in thousands): September 30, December 31, 2017 2016 Restricted cash and cash equivalents $ 2,635 $ 2,635 Investments $ 3,922 $ 3,952

Liability for Unpaid Losses a25

Liability for Unpaid Losses and Loss Adjustment Expenses (Tables)	9 Months Ended
	Sep. 30, 2017
Insurance Loss Reserves [Abstract]
Change in Liability for Unpaid Losses and LAE	Set forth in the following table is the change in liability for unpaid losses and LAE for the periods presented (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Balance at beginning of period $ 22,645 $ 60,144 $ 58,494 $ 98,840 Less: Reinsurance recoverable (1,393 ) (2,958 ) (106 ) (13,540 ) Net balance at beginning of period 21,252 57,186 58,388 85,300 Incurred (recovered) related to: Current year 116,262 73,721 265,811 199,907 Prior years 113 (173 ) 1,318 (158 ) Total incurred 116,375 73,548 267,129 199,749 Paid related to: Current year 93,969 73,352 179,000 146,012 Prior years 15,912 5,077 118,771 86,732 Total paid 109,881 78,429 297,771 232,744 Net balance at end of period 27,746 52,305 27,746 52,305 Plus: Reinsurance recoverable 412,697 1,904 412,697 1,904 Balance at end of period $ 440,443 $ 54,209 $ 440,443 $ 54,209

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt consists of the following as of the dates presented (in thousands): September 30, December 31, 2017 2016 Surplus note $ 13,235 $ 14,338 Promissory note — 690 Total $ 13,235 $ 15,028

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Activity Relating to Common Shares	The following table summarizes the activity relating to shares of the Company’s common stock during the nine months ended September 30, 2017 (in thousands): Issued Treasury Outstanding Shares Shares Shares Balance, as of December 31, 2016 45,324 (10,272 ) 35,052 Shares repurchased — (761 ) (761 ) Vesting of performance share units 115 — 115 Stock option exercises 71 — 71 Common stock issued 26 — 26 Shares acquired through cashless exercise (1) — (63 ) (63 ) Shares cancelled (63 ) 63 — Balance, as of September 30, 2017 45,473 (11,033 ) 34,440 (1) All shares acquired represent shares tendered to cover the strike price for options and tax withholdings on the intrinsic value of options exercised or performance share units vested. These shares have been cancelled by the Company.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Reconciles Numerator and Denominator of Basic and Diluted Earnings Per Share Computations	The following table reconciles the numerator (i.e., income) and denominator (i.e., shares) of the basic and diluted earnings per share computations for the periods presented (in thousands, except per share data): Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Numerator for EPS: Net income $ 9,964 $ 26,882 $ 70,539 $ 85,756 Less: Preferred stock dividends (3 ) (3 ) (8 ) (8 ) Income available to common stockholders $ 9,961 $ 26,879 $ 70,531 $ 85,748 Denominator for EPS: Weighted average common shares outstanding 34,686 35,042 34,927 34,878 Plus: Assumed conversion of stock-based compensation (1) 904 656 965 691 Assumed conversion of preferred stock 25 25 25 25 Weighted average diluted common shares outstanding 35,615 35,723 35,917 35,594 Basic earnings per common share $ 0.29 $ 0.77 $ 2.02 $ 2.46 Diluted earnings per common share $ 0.28 $ 0.75 $ 1.96 $ 2.41 (1) Represents the dilutive effect of unvested Restricted Stock, unvested Performance Share Units and unexercised Stock Options.

Other Comprehensive Income (L29

Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Components of Other Comprehensive Income (Loss) Pre-Tax and After-Tax	The following table provides the components of other comprehensive income (loss) on a pre-tax and after-tax basis for the periods presented (in thousands): Three Months Ended September 30, 2017 2016 Pre-tax Tax After-tax Pre-tax Tax After-tax Net unrealized gains (losses) on investments available for sale arising during the period $ 1,207 $ 461 $ 746 $ (694 ) $ (265 ) $ (429 ) Less: Amounts reclassified from accumulated other comprehensive income (loss) (803 ) (308 ) (495 ) (101 ) (39 ) (62 ) Net current period other comprehensive income (loss) $ 404 $ 153 $ 251 $ (795 ) $ (304 ) $ (491 ) Nine Months Ended September 30, 2017 2016 Pre-tax Tax After-tax Pre-tax Tax After-tax Net unrealized gains (losses) on investments available for sale arising during the period $ 9,248 $ 3,535 $ 5,713 $ 10,460 $ 3,998 $ 6,462 Less: Amounts reclassified from accumulated other comprehensive income (loss) (2,450 ) (938 ) (1,512 ) (1,344 ) (513 ) (831 ) Net current period other comprehensive income (loss) $ 6,798 $ 2,597 $ 4,201 $ 9,116 $ 3,485 $ 5,631
Reclassifications Out of Accumulated Other Comprehensive Income	The following table provides the reclassifications out of accumulated other comprehensive income for the periods presented (in thousands): Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) Details about Accumulated Other Three Months Ended September 30, Nine Months Ended September 30, Affected Line Item in the Statement Comprehensive Income (Loss) Components 2017 2016 2017 2016 Where Net Income is Presented Unrealized gains (losses) on investments available for sale $ 803 $ 101 $ 2,450 $ 1,344 Net realized gains (losses) on investments (308 ) (39 ) (938 ) (513 ) Income taxes $ 495 $ 62 $ 1,512 $ 831 Net of tax

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Assets Measured for at Fair Value on Recurring Basis	The following tables set forth by level within the fair value hierarchy the Company’s assets that were measured at fair value including those on a recurring basis as of the dates presented (in thousands): Fair Value Measurements September 30, 2017 Level 1 Level 2 Level 3 Total Fixed Maturities: U.S. government obligations and agencies $ — $ 55,016 $ — $ 55,016 Corporate bonds — 215,831 — 215,831 Mortgage-backed and asset-backed securities — 218,098 — 218,098 Municipal bonds — 106,290 — 106,290 Redeemable preferred stock — 13,944 — 13,944 Equity Securities: Common stock 5,683 — — 5,683 Mutual funds 20,392 — — 20,392 Total assets accounted for at fair value $ 26,075 $ 609,179 $ — $ 635,254 Fair Value Measurements December 31, 2016 Level 1 Level 2 Level 3 Total Fixed Maturities: U.S. government obligations and agencies $ — $ 74,267 $ — $ 74,267 Corporate bonds — 191,430 — 191,430 Mortgage-backed and asset-backed securities — 214,776 — 214,776 Municipal bonds — 91,197 — 91,197 Redeemable preferred stock — 12,691 — 12,691 Equity Securities: Common stock 93 — — 93 Mutual funds 50,710 — — 50,710 Short-term investments — 5,002 — 5,002 Total assets accounted for at fair value $ 50,803 $ 589,363 $ — $ 640,166
Summarizes Carrying Value and Estimated Fair Values of Financial Instruments not Carried at Fair Value	The following table summarizes the carrying value and estimated fair values of the Company’s financial instruments that are not carried at fair value as of the dates presented (in thousands): September 30, 2017 December 31, 2016 (Level 3) (Level 3) Estimated Estimated Carrying Value Carrying Value Liabilities (debt): Surplus note $ 13,235 $ 11,949 $ 14,338 $ 13,282 Promissory note $ — $ — $ 690 $ 690

Nature of Operations and Basi31

Nature of Operations and Basis of Presentation - Additional Information (Detail)	Sep. 30, 2017State
Accounting Policies [Abstract]
Number of states	15

Significant Accounting Polici32

Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Schedule Of Significant Accounting Policies [Line Items]
Income tax expense (benefit)	$ 6,635	$ 17,281	$ 41,354	$ 54,400
Adjustments for New Accounting Pronouncement [Member]
Schedule Of Significant Accounting Policies [Line Items]
Income tax expense (benefit)			$ (800)

Investments - Cost or Amortized

Investments - Cost or Amortized Cost and Fair Value of Securities Available for Sale (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Schedule Of Available For Sale Securities [Line Items]
Cost or Amortized Cost	$ 638,865	$ 650,575
Gross Unrealized Gains	2,494	1,201
Gross Unrealized Losses	(6,105)	(11,610)
Fair Value	635,254	640,166
Mortgage-Backed and Asset-Backed Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost or Amortized Cost	219,321	216,679
Fair Value	218,098	214,776
Fixed Maturities [Member] | U.S. Government Obligations and Agencies [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost or Amortized Cost	55,519	74,937
Gross Unrealized Gains	21
Gross Unrealized Losses	(524)	(670)
Fair Value	55,016	74,267
Fixed Maturities [Member] | Corporate Bonds [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost or Amortized Cost	215,455	192,328
Gross Unrealized Gains	883	402
Gross Unrealized Losses	(507)	(1,300)
Fair Value	215,831	191,430
Fixed Maturities [Member] | Mortgage-Backed and Asset-Backed Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost or Amortized Cost	219,321	216,679
Gross Unrealized Gains	110	135
Gross Unrealized Losses	(1,333)	(2,038)
Fair Value	218,098	214,776
Fixed Maturities [Member] | Municipal Bonds [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost or Amortized Cost	106,926	94,794
Gross Unrealized Gains	706	130
Gross Unrealized Losses	(1,342)	(3,727)
Fair Value	106,290	91,197
Fixed Maturities [Member] | Redeemable Preferred Stock [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost or Amortized Cost	13,336	12,723
Gross Unrealized Gains	631	125
Gross Unrealized Losses	(23)	(157)
Fair Value	13,944	12,691
Equity Securities [Member] | Common Stock [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost or Amortized Cost	5,992	214
Gross Unrealized Losses	(309)	(121)
Fair Value	5,683	93
Equity Securities [Member] | Mutual Funds [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost or Amortized Cost	22,316	53,900
Gross Unrealized Gains	143	407
Gross Unrealized Losses	(2,067)	(3,597)
Fair Value	$ 20,392	50,710
Short-term Investments [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost or Amortized Cost		5,000
Gross Unrealized Gains		2
Fair Value		$ 5,002

Investments - Schedule of Credi

Investments - Schedule of Credit Quality of Investment Securities With Contractual Maturities or The Issuer of Such Securities (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Schedule Of Available For Sale Securities [Line Items]
Fair Value	$ 609,179	$ 589,363
Percentage of Total Fair Value	100.00%	100.00%
Comparable Ratings, AAA Rating [Member]
Schedule Of Available For Sale Securities [Line Items]
Fair Value	$ 130,119	$ 131,260
Percentage of Total Fair Value	21.40%	22.30%
Comparable Ratings, AA Rating [Member]
Schedule Of Available For Sale Securities [Line Items]
Fair Value	$ 268,056	$ 275,480
Percentage of Total Fair Value	44.00%	46.70%
Comparable Ratings, A Rating [Member]
Schedule Of Available For Sale Securities [Line Items]
Fair Value	$ 122,808	$ 107,418
Percentage of Total Fair Value	20.20%	18.20%
Comparable Ratings, BBB Rating [Member]
Schedule Of Available For Sale Securities [Line Items]
Fair Value	$ 79,950	$ 67,263
Percentage of Total Fair Value	13.10%	11.40%
Comparable Ratings, BB+ and Below Rating [Member]
Schedule Of Available For Sale Securities [Line Items]
Fair Value	$ 3,738	$ 3,444
Percentage of Total Fair Value	0.60%	0.60%
Comparable Ratings, No Rating Available [Member]
Schedule Of Available For Sale Securities [Line Items]
Fair Value	$ 4,508	$ 4,498
Percentage of Total Fair Value	0.70%	0.80%

Investments - Schedule of Amort

Investments - Schedule of Amortized Cost and Fair Value on Mortgage-Backed and Asset-Backed Securities (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Schedule Of Available For Sale Securities [Line Items]
Cost or Amortized Cost	$ 638,865	$ 650,575
Fair Value	635,254	640,166
Mortgage-backed securities [Member] | Agency [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost or Amortized Cost	119,469	110,724
Fair Value	118,387	109,022
Mortgage-backed securities [Member] | Non Agency [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost or Amortized Cost	15,418	19,408
Fair Value	15,334	19,265
Asset-backed securities [Member] | Auto Loan Receivables [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost or Amortized Cost	36,989	37,390
Fair Value	36,959	37,429
Asset-backed securities [Member] | Credit Card Receivables [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost or Amortized Cost	35,869	38,640
Fair Value	35,846	38,568
Asset-backed securities [Member] | Other Receivables [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost or Amortized Cost	11,576	10,517
Fair Value	11,572	10,492
Mortgage-Backed and Asset-Backed Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost or Amortized Cost	219,321	216,679
Fair Value	$ 218,098	$ 214,776

Investments - Summarized Fair V

Investments - Summarized Fair Value and Gross Unrealized Losses on Securities Available for Sale (Detail) $ in Thousands	Sep. 30, 2017USD ($)Security	Dec. 31, 2016USD ($)Security
Schedule Of Available For Sale Securities [Line Items]
Less than 12 months, Number of issues | Security	263	323
Less than 12 months, Fair value	$ 323,994	$ 430,540
Less than 12 months, Unrealized losses	$ (2,941)	$ (8,415)
12 months or longer, Number of issues | Security	41	15
12 months or longer, Fair value	$ 58,536	$ 28,018
12 months or longer, Unrealized losses	(3,164)	$ (3,195)
Equity Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
12 months or longer, Fair value	$ 9,200
U.S. Government Obligations and Agencies [Member] | Fixed Maturities [Member]
Schedule Of Available For Sale Securities [Line Items]
Less than 12 months, Number of issues | Security	10	11
Less than 12 months, Fair value	$ 47,102	$ 70,453
Less than 12 months, Unrealized losses	$ (404)	$ (608)
12 months or longer, Number of issues | Security	4	2
12 months or longer, Fair value	$ 4,345	$ 3,504
12 months or longer, Unrealized losses	$ (120)	$ (62)
Corporate Bonds [Member] | Fixed Maturities [Member]
Schedule Of Available For Sale Securities [Line Items]
Less than 12 months, Number of issues | Security	100	116
Less than 12 months, Fair value	$ 76,577	$ 96,379
Less than 12 months, Unrealized losses	$ (410)	$ (1,219)
12 months or longer, Number of issues | Security	11	4
12 months or longer, Fair value	$ 7,105	$ 3,250
12 months or longer, Unrealized losses	$ (97)	$ (80)
Mortgage-Backed and Asset-Backed Securities [Member] | Fixed Maturities [Member]
Schedule Of Available For Sale Securities [Line Items]
Less than 12 months, Number of issues | Security	90	73
Less than 12 months, Fair value	$ 146,458	$ 149,928
Less than 12 months, Unrealized losses	$ (1,196)	$ (1,923)
12 months or longer, Number of issues | Security	8	5
12 months or longer, Fair value	$ 13,063	$ 9,660
12 months or longer, Unrealized losses	$ (137)	$ (115)
Municipal Bonds [Member] | Fixed Maturities [Member]
Schedule Of Available For Sale Securities [Line Items]
Less than 12 months, Number of issues | Security	43	69
Less than 12 months, Fair value	$ 46,363	$ 79,402
Less than 12 months, Unrealized losses	$ (601)	$ (3,726)
12 months or longer, Number of issues | Security	15
12 months or longer, Fair value	$ 24,714
12 months or longer, Unrealized losses	$ (741)
Redeemable Preferred Stock [Member] | Fixed Maturities [Member]
Schedule Of Available For Sale Securities [Line Items]
Less than 12 months, Number of issues | Security	13	50
Less than 12 months, Fair value	$ 1,518	$ 6,340
Less than 12 months, Unrealized losses	$ (19)	$ (158)
12 months or longer, Number of issues | Security	1
12 months or longer, Fair value	$ 107
12 months or longer, Unrealized losses	$ (4)
Common Stock [Member] | Equity Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Less than 12 months, Number of issues | Security	2	1
Less than 12 months, Fair value	$ 5,683	$ 18
Less than 12 months, Unrealized losses	$ (309)	$ (7)
12 months or longer, Number of issues | Security		2
12 months or longer, Fair value		$ 75
12 months or longer, Unrealized losses		$ (115)
Mutual Funds [Member] | Equity Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Less than 12 months, Number of issues | Security	5	3
Less than 12 months, Fair value	$ 293	$ 28,020
Less than 12 months, Unrealized losses	$ (2)	$ (774)
12 months or longer, Number of issues | Security	2	2
12 months or longer, Fair value	$ 9,202	$ 11,529
12 months or longer, Unrealized losses	$ (2,065)	$ (2,823)

Investments - Additional Inform

Investments - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Schedule Of Available For Sale Securities [Line Items]
Equity securities, Unrealized loss position twelve months or longer	$ 58,536,000	$ 28,018,000
Equity securities, Unrealized loss	2,100,000
Equity Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Equity securities, Unrealized loss position twelve months or longer	9,200,000
OTTI losses on equity portfolio	$ 0

Investments - Amortized Cost an

Investments - Amortized Cost and Fair Value of Investments With Contractual Maturities (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Schedule Of Available For Sale Securities [Line Items]
Fixed Maturities Securities Available for Sale, Due in one year or less, Amortized cost	$ 42,233
Fixed Maturities Securities Available for Sale, Due after one year through five years, Amortized cost	229,841
Fixed Maturities Securities Available for Sale, Due after five years through ten years, Amortized cost	47,716
Fixed Maturities Securities Available for Sale, Due after ten years, Amortized cost	58,110
Fixed Maturities Securities Available for Sale, Perpetual Maturity, Amortized Cost	13,336
Fixed Maturities Securities Available for Sale, Amortized cost, Total	610,557
Fixed Maturities Securities Available for Sale, Due in one year or less, Fair Value	42,233
Fixed Maturities Securities Available for Sale, Due after one year through five years, Fair Value	229,898
Fixed Maturities Securities Available for Sale, Due after five years through ten years, Fair Value	47,879
Fixed Maturities Securities Available for Sale, Due after ten years, Fair Value	57,127
Fixed Maturities Securities Available for Sale, Perpetual Maturity, Fair Value	13,944
Fixed Maturities Securities Available for Sale, Fair Value, Total	609,179	$ 589,363
Mortgage-Backed and Asset-Backed Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Fixed Maturities Securities Available for Sale, Mortgage-backed Securities, Amortized cost	219,321
Fixed Maturities Securities Available for Sale, Mortgage-backed Securities, Fair Value	$ 218,098

Investments - Summary of Securi

Investments - Summary of Securities Available for Sale (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Investments Debt And Equity Securities [Abstract]
Proceeds from sales and maturities (fair value)	$ 67,818	$ 23,744	$ 175,440	$ 188,896
Gross realized gains	849	107	2,662	1,369
Gross realized losses	$ (46)	$ (6)	$ (212)	$ (25)

Investments - Investment Income

Investments - Investment Income (Expense) Comprised Primarily of Interest and Dividends (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net Investment Income [Line Items]
Total investment income	$ 3,644	$ 2,860	$ 10,634	$ 7,776
Less: Investment expenses	(559)	(556)	(1,622)	(1,725)
Net investment (expense) income	3,085	2,304	9,012	6,051
Fixed Maturities [Member]
Net Investment Income [Line Items]
Investment income	2,977	2,456	8,893	6,447
Equity Securities [Member]
Net Investment Income [Line Items]
Investment income	348	223	1,068	666
Short-term Investments [Member]
Net Investment Income [Line Items]
Investment income		15	22	60
Other [Member]
Net Investment Income [Line Items]
Investment income	$ 319	$ 166	$ 651	$ 603

Investments - Schedule of Real

Investments - Schedule of Real Estate Investment (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Real Estate [Line Items]
Investment real estate, net	$ 16,324	$ 11,435
Income Producing [Member]
Real Estate [Line Items]
Investment real estate	6,918	6,918
Less: Accumulated depreciation	(415)	(281)
Investment real estate, net	6,503	6,637
Non-Income Producing [Member]
Real Estate [Line Items]
Properties under development	$ 9,821	$ 4,798

Reinsurance - Additional Inform

Reinsurance - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2017
Stockholders' Equity, Total [Member] | Amounts Due From Reinsurers [Member]
Effects of Reinsurance [Line Items]
Unsecured amounts due from reinsurers exceeding a fixed percentage of stockholders equity	3.00%

Reinsurance - Current Ratings f

Reinsurance - Current Ratings from Rating Agencies and Unsecured Net Amounts Due from Reinsurers Whose Aggregate Balance Exceeded 3% of Stockholders' Equity (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Ceded Credit Risk [Line Items]
Reinsurance unsecured amounts due from reinsurers total	$ 297,116	$ 46,364
Allianz Risk Transfer [Member]
Ceded Credit Risk [Line Items]
Reinsurance unsecured amounts due from reinsurers total	186,479
AXIS Specialty Limited [Member]
Ceded Credit Risk [Line Items]
Reinsurance unsecured amounts due from reinsurers total	16,929
Everest Reinsurance Company [Member]
Ceded Credit Risk [Line Items]
Reinsurance unsecured amounts due from reinsurers total	63,104
Florida Hurricane Catastrophe Fund [Member]
Ceded Credit Risk [Line Items]
Reinsurance unsecured amounts due from reinsurers total		$ 46,364
Renaissance Reinsurance Ltd [Member]
Ceded Credit Risk [Line Items]
Reinsurance unsecured amounts due from reinsurers total	$ 30,604

Reinsurance - Reinsurance Arran

Reinsurance - Reinsurance Arrangements (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Reinsurance Disclosures [Abstract]
Direct premiums written	$ 274,744	$ 241,888	$ 816,350	$ 741,782
Ceded premiums written	(7,303)	(151,432)	(318,827)	(298,365)
Net premiums written	267,441	90,456	497,523	443,417
Direct premiums earned	254,809	234,500	735,807	682,571
Ceded premiums earned	(80,292)	(74,966)	(230,722)	(214,128)
Premiums earned, net	174,517	159,534	505,085	468,443
Direct Losses and Loss Adjustment Expenses	531,268	73,487	687,707	198,069
Ceded Losses and Loss Adjustment Expenses	(414,893)	61	(420,578)	1,680
Net Losses and Loss Adjustment Expenses	$ 116,375	$ 73,548	$ 267,129	$ 199,749

Reinsurance - Prepaid Reinsuran

Reinsurance - Prepaid Reinsurance Premiums and Reinsurance Recoverable (Payable) and Receivable (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Jun. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Dec. 31, 2015
Reinsurance Disclosures [Abstract]
Prepaid reinsurance premiums	$ 212,489		$ 124,385
Reinsurance recoverable on unpaid losses and LAE	412,697	$ 1,393	106	$ 1,904	$ 2,958	$ 13,540
Reinsurance recoverable (payable) on paid losses			(1,532)
Reinsurance receivable, net			186
Reinsurance recoverable (payable) and receivable	$ 412,697		$ (1,240)

Insurance Operations - Beginnin

Insurance Operations - Beginning and Ending Balances and Changes in DPAC (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Insurance [Abstract]
DPAC, beginning of period	$ 73,591	$ 67,190	$ 64,912	$ 60,019
Capitalized Costs	36,999	33,227	110,653	100,444
Amortization of DPAC	(34,656)	(32,117)	(99,631)	(92,163)
DPAC, end of period	$ 75,934	$ 68,300	$ 75,934	$ 68,300

Insurance Operations - Addition

Insurance Operations - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2017USD ($)
UPCIC [Member]
Statutory Accounting Practices [Line Items]
Statutory ordinary dividend capacity	$ 57,700,000
Dividend paid to UVECF	30,000,000
APPCIC [Member]
Statutory Accounting Practices [Line Items]
Dividend paid to UVECF	$ 0
UPCIC and APPCIC [Member]
Statutory Accounting Practices [Line Items]
Minimum capitalization rate	10.00%
Minimum capitalization amount	$ 10,000,000
Minimum capital required	Greater of ten percent of the insurer’s total liabilities or $10.0 million.

Insurance Operations - Statutor

Insurance Operations - Statutory Capital and Surplus, and an Amount Representing Ten Percent of Total Liabilities for both UPCIC and APPCIC (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
UPCIC [Member]
Statutory Accounting Practices [Line Items]
Ten percent of total liabilities	$ 82,923	$ 57,560
Statutory capital and surplus	319,304	313,753
APPCIC [Member]
Statutory Accounting Practices [Line Items]
Ten percent of total liabilities	655	464
Statutory capital and surplus	$ 16,389	$ 17,280

Insurance Operations - Assets H

Insurance Operations - Assets Held by Insurance Regulators (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Restricted Cash and Cash Equivalents [Member]
Statutory Accounting Practices [Line Items]
Assets held by insurance regulators	$ 2,635	$ 2,635
Investments [Member]
Statutory Accounting Practices [Line Items]
Assets held by insurance regulators	$ 3,922	$ 3,952

Liability for Unpaid Losses a50

Liability for Unpaid Losses and Loss Adjustment Expenses - Change in Liability for Unpaid Losses and LAE (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Insurance [Abstract]
Balance at beginning of period	$ 22,645	$ 60,144	$ 58,494	$ 98,840
Less: Reinsurance recoverable	(1,393)	(2,958)	(106)	(13,540)
Net balance at beginning of period	21,252	57,186	58,388	85,300
Incurred (recovered) related to current year	116,262	73,721	265,811	199,907
Incurred (recovered) related to prior years	113	(173)	1,318	(158)
Total incurred	116,375	73,548	267,129	199,749
Paid related to Current year	93,969	73,352	179,000	146,012
Paid related to Prior years	15,912	5,077	118,771	86,732
Total paid	109,881	78,429	297,771	232,744
Net balance at end of period	27,746	52,305	27,746	52,305
Plus: Reinsurance recoverable	412,697	1,904	412,697	1,904
Balance at end of period	$ 440,443	$ 54,209	$ 440,443	$ 54,209

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Total	$ 13,235	$ 15,028
Surplus Note [Member]
Debt Instrument [Line Items]
Notes payable	$ 13,235	14,338
Promissory Note [Member]
Debt Instrument [Line Items]
Notes payable		$ 690

Stockholders' Equity - Activity

Stockholders' Equity - Activity Relating to Common Shares (Detail) shares in Thousands	9 Months Ended
	Sep. 30, 2017shares
Equity [Abstract]
Issued shares, beginning balance	45,324
Treasury shares, beginning balance	(10,272)
Outstanding shares, beginning balance	35,052
Shares repurchased	(761)
Vesting of performance share units	115
Stock option exercises	71
Common stock issued	26
Shares acquired through cashless exercise	(63)	[1]
Issued shares, shares cancelled	(63)
Treasury shares, shares cancelled	63
Issued shares, ending balance	45,473
Treasury shares, ending balance	(11,033)
Outstanding shares, ending balance	34,440
[1]	All shares acquired represent shares tendered to cover the strike price for options and tax withholdings on the intrinsic value of options exercised or performance share units vested. These shares have been cancelled by the Company.

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	Aug. 31, 2017	Apr. 12, 2017	Jan. 23, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2016
Equity [Line Items]
Treasury shares acquired						761,000
Dividends per share declared on outstanding common stock	$ 0.14	$ 0.14	$ 0.14	$ 0.14	$ 0.14	$ 0.42	$ 0.42
Dividends payable date	Oct. 24, 2017	Jul. 3, 2017	Mar. 2, 2017
Dividends payable, shareholders record date	Sep. 12, 2017	Jun. 14, 2017	Feb. 17, 2017
June 2016 Share Repurchase Program [Member]
Equity [Line Items]
Treasury shares acquired						760,559
Shares repurchased during period						$ 17,900,000
September 2017 Share Repurchase Program [Member]
Equity [Line Items]
Treasury shares acquired						0
Maximum [Member] | June 2016 Share Repurchase Program [Member]
Equity [Line Items]
Amount of shares authorized to repurchase								$ 20,000,000
Maximum [Member] | September 2017 Share Repurchase Program [Member]
Equity [Line Items]
Amount of shares authorized to repurchase				$ 20,000,000		$ 20,000,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Taxes [Line Items]
Income tax expense (benefit)	$ 6,635	$ 17,281	$ 41,354	$ 54,400
Effective tax rate	40.00%	39.10%	37.00%	38.80%
Other tax expense (benefit)			$ (1,200)
U.S. federal statutory rate			35.00%
Adjustments for New Accounting Pronouncement [Member]
Income Taxes [Line Items]
Income tax expense (benefit)			$ (800)

Earnings Per Share - Reconciles

Earnings Per Share - Reconciles Numerator and Denominator of Basic and Diluted Earnings Per Share Computations (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Numerator for EPS:
Net income		$ 9,964	$ 26,882	$ 70,539	$ 85,756
Less: Preferred stock dividends		(3)	(3)	(8)	(8)
Income available to common stockholders		$ 9,961	$ 26,879	$ 70,531	$ 85,748
Denominator for EPS:
Weighted average common shares outstanding		34,686	35,042	34,927	34,878
Plus: Assumed conversion of share-based compensation	[1]	904	656	965	691
Assumed conversion of preferred stock		25	25	25	25
Weighted average diluted common shares outstanding		35,615	35,723	35,917	35,594
Basic earnings per common share		$ 0.29	$ 0.77	$ 2.02	$ 2.46
Diluted earnings per common share		$ 0.28	$ 0.75	$ 1.96	$ 2.41
[1]	Represents the dilutive effect of unvested Restricted Stock, unvested Performance Share Units and unexercised Stock Options.

Other Comprehensive Income (L56

Other Comprehensive Income (Loss) - Components of Other Comprehensive Income (loss) Pre-Tax and After-Tax (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Equity [Abstract]
Net unrealized gains (losses) on investments available for sale arising during the period, Pre-tax	$ 1,207	$ (694)	$ 9,248	$ 10,460
Less: Amounts reclassified from accumulated other comprehensive income (loss), Pre-tax	(803)	(101)	(2,450)	(1,344)
Net current period other comprehensive income (loss), Pre-tax	404	(795)	6,798	9,116
Net unrealized gains (losses) on investments available for sale arising during the period, Tax	461	(265)	3,535	3,998
Less: Amounts reclassified from accumulated other comprehensive income (loss), Tax	(308)	(39)	(938)	(513)
Net current period other comprehensive income (loss), Tax	153	(304)	2,597	3,485
Net unrealized gains (losses) on investments available for sale arising during the period, After-tax	746	(429)	5,713	6,462
Less: Amounts reclassified from accumulated other comprehensive income (loss), After-tax	(495)	(62)	(1,512)	(831)
Net current period other comprehensive income (loss), After-tax	$ 251	$ (491)	$ 4,201	$ 5,631

Other Comprehensive Income (L57

Other Comprehensive Income (Loss) - Reclassifications Out of Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net realized gains (losses) on investments	$ 803	$ 101	$ 2,450	$ 1,344
Income taxes	(6,635)	(17,281)	(41,354)	(54,400)
NET INCOME	9,964	26,882	70,539	85,756
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net realized gains (losses) on investments	803	101	2,450	1,344
Income taxes	(308)	(39)	(938)	(513)
NET INCOME	$ 495	$ 62	$ 1,512	$ 831

Fair Value Measurements - Asset

Fair Value Measurements - Assets Measured for at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed Maturities	$ 609,179	$ 584,361
Equity Securities	26,075	50,803
Short-term investments		5,002
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		5,002
Total assets accounted for at fair value	635,254	640,166
Fair Value, Measurements, Recurring | U.S. Government Obligations and Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed Maturities	55,016	74,267
Fair Value, Measurements, Recurring | Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed Maturities	215,831	191,430
Fair Value, Measurements, Recurring | Mortgage-Backed and Asset-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed Maturities	218,098	214,776
Fair Value, Measurements, Recurring | Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed Maturities	106,290	91,197
Fair Value, Measurements, Recurring | Redeemable Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed Maturities	13,944	12,691
Fair Value, Measurements, Recurring | Common Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Securities	5,683	93
Fair Value, Measurements, Recurring | Mutual Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Securities	20,392	50,710
Level 1 [Member] | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets accounted for at fair value	26,075	50,803
Level 1 [Member] | Fair Value, Measurements, Recurring | Common Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Securities	5,683	93
Level 1 [Member] | Fair Value, Measurements, Recurring | Mutual Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Securities	20,392	50,710
Level 2 [Member] | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		5,002
Total assets accounted for at fair value	609,179	589,363
Level 2 [Member] | Fair Value, Measurements, Recurring | U.S. Government Obligations and Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed Maturities	55,016	74,267
Level 2 [Member] | Fair Value, Measurements, Recurring | Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed Maturities	215,831	191,430
Level 2 [Member] | Fair Value, Measurements, Recurring | Mortgage-Backed and Asset-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed Maturities	218,098	214,776
Level 2 [Member] | Fair Value, Measurements, Recurring | Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed Maturities	106,290	91,197
Level 2 [Member] | Fair Value, Measurements, Recurring | Redeemable Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed Maturities	$ 13,944	$ 12,691

Fair Value Measurements - Summa

Fair Value Measurements - Summarizes Carrying Value and Estimated Fair Values of Financial Instruments not Carried at Fair Value (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Surplus Note [Member]
Fair Value Inputs Liabilities Quantitative Information [Line Items]
Carrying Value	$ 13,235	$ 14,338
Surplus Note [Member] | Level 3 [Member]
Fair Value Inputs Liabilities Quantitative Information [Line Items]
Estimated Fair Value	$ 11,949	13,282
Promissory Note [Member]
Fair Value Inputs Liabilities Quantitative Information [Line Items]
Carrying Value		690
Promissory Note [Member] | Level 3 [Member]
Fair Value Inputs Liabilities Quantitative Information [Line Items]
Estimated Fair Value		$ 690