Universal Insurance (UVE) 10-Q 31 Oct 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Oct. 29, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2,018
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 Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		34,938,872

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
ASSETS
Available-for-sale debt securities	$ 760,408	$ 639,334
Available-for-sale short-term investments		10,000
Equity securities	69,108	62,215
Investment real estate, net	23,720	18,474
Total invested assets	853,236	730,023
Cash and cash equivalents	252,289	213,486
Restricted cash and cash equivalents	2,635	2,635
Prepaid reinsurance premiums	228,408	132,806
Reinsurance recoverable	158,603	182,405
Reinsurance receivable, net	961
Premium receivable, net	66,017	56,500
Property and equipment, net	35,632	32,866
Deferred policy acquisition costs	90,643	73,059
Income taxes recoverable	5,174	9,472
Deferred income tax asset, net	7,948	9,286
Other assets	21,723	12,461
Total assets	1,723,269	1,454,999
LIABILITIES:
Unpaid losses and loss adjustment expenses	158,667	248,425
Unearned premiums	629,693	532,444
Advance premium	32,839	26,216
Accounts payable	2,809	2,866
Book overdraft	30,334	36,715
Reinsurance payable, net	261,133	110,381
Other liabilities and accrued expenses	65,005	45,096
Long-term debt	11,765	12,868
Total liabilities	1,192,245	1,015,011
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 - 46,318 and 45,778 Outstanding shares - 34,933 and 34,735	463	458
Treasury shares, at cost - 11,385 and 11,043	(116,239)	(105,123)
Additional paid-in capital	88,231	86,186
Accumulated other comprehensive income (loss), net of taxes	(9,898)	(6,281)
Retained earnings	568,467	464,748
Total stockholders' equity	531,024	439,988
Total liabilities and stockholders' equity	$ 1,723,269	$ 1,454,999

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - $ / shares	Sep. 30, 2018	Dec. 31, 2017
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	46,318,000	45,778,000
Common stock, shares outstanding	34,933,000	34,735,000
Treasury stock, shares	11,385,000	11,043,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
PREMIUMS EARNED AND OTHER REVENUES
Direct premiums written	$ 309,176	$ 274,744	$ 921,941	$ 816,350
Change in unearned premium	(20,772)	(19,935)	(97,249)	(80,543)
Direct premium earned	288,404	254,809	824,692	735,807
Ceded premium earned	(99,466)	(80,292)	(260,905)	(230,722)
Premiums earned, net	188,938	174,517	563,787	505,085
Net investment income (expense)	6,642	3,085	17,213	9,012
Net realized gains (losses) on sale of securities	403	803	(2,093)	2,450
Net change in unrealized gains (losses) of equity securities	(2,473)		(9,103)
Commission revenue	5,658	5,304	16,638	14,546
Policy fees	5,204	4,861	15,743	14,594
Other revenue	1,783	1,673	5,258	4,917
Total premiums earned and other revenues	206,155	190,243	607,443	550,604
OPERATING COSTS AND EXPENSES
Losses and loss adjustment expenses	85,947	116,375	251,715	267,129
General and administrative expenses	69,041	57,269	191,614	171,582
Total operating costs and expenses	154,988	173,644	443,329	438,711
INCOME BEFORE INCOME TAXES	51,167	16,599	164,114	111,893
Income tax expense	13,787	6,635	40,595	41,354
NET INCOME	$ 37,380	$ 9,964	$ 123,519	$ 70,539
Basic earnings per common share	$ 1.07	$ 0.29	$ 3.54	$ 2.02
Weighted average common shares outstanding - Basic	34,861	34,686	34,870	34,927
Diluted earnings per common share	$ 1.04	$ 0.28	$ 3.45	$ 1.96
Weighted average common shares outstanding - Diluted	35,919	35,615	35,754	35,917
Cash dividend declared per common share	$ 0.16	$ 0.14	$ 0.44	$ 0.42

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 37,380	$ 9,964	$ 123,519	$ 70,539
Other comprehensive income (loss), net of taxes	(737)	251	(6,636)	4,201
Comprehensive income	$ 36,643	$ 10,215	$ 116,883	$ 74,740

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$ 224,454	$ 286,195
Cash flows from investing activities:
Proceeds from sale of property and equipment	30	17
Purchases of property and equipment	(6,141)	(3,655)
Purchases of equity securities	(23,568)	(47,070)
Purchases of available-for-sale debt securities	(349,617)	(114,593)
Purchases of investment real estate, net	(5,553)	(5,023)
Proceeds from sales of equity securities	8,285	75,027
Proceeds from sales of available-for-sale debt securities	132,801	19,643
Maturities of available-for-sale debt securities	83,188	75,770
Maturities of available-for-sale short-term investments	10,000	5,000
Net cash provided by (used in) investing activities	(150,575)	5,116
Cash flows from financing activities:
Preferred stock dividend	(8)	(8)
Common stock dividend	(15,400)	(9,803)
Issuance of common stock for stock option exercises	102
Purchase of treasury stock	(11,116)	(17,884)
Payments related to tax withholding for share-based compensation	(7,551)	(1,367)
Repayment of debt	(1,103)	(1,803)
Net cash provided by (used in) financing activities	(35,076)	(30,865)
Cash and cash equivalents, and restricted cash and cash equivalents:
Net increase (decrease) during the period	38,803	260,446
Balance, beginning of period	216,121	108,365
Balance, end of period	$ 254,924	$ 368,811

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Statement Of Cash Flows [Abstract]
Cash and cash equivalents	$ 252,289	$ 213,486
Restricted cash and cash equivalents	2,635	2,635
Total cash and cash equivalents and restricted cash and cash equivalents	$ 254,924	$ 216,121	$ 368,811	$ 108,365

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	9 Months Ended
	Sep. 30, 2018
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 insurance company 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 its network of independent agents. Risk from catastrophic losses is managed through the use of reinsurance agreements. The Company’s primary product is residential homeowners’ insurance currently offered in 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 certain reinsurance programs placed by the Insurance Entities, policy fees collected from policyholders by our wholly-owned managing general agent subsidiary and payment plan fees charged to policyholders who choose to pay their premiums in installments. Our wholly-owned adjusting company receives claims-handling fees from the Insurance Entities. The Insurance Entities are reimbursed for these fees on claims that are subject to recovery under the Insurance Entities’ respective reinsurance programs. These fees, after expenses, are recorded in the Condensed Consolidated Financial Statements as an adjustment to losses and loss adjustment expense. 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 (“U.S. 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, 2017, filed with the SEC on February 23, 2018. The condensed consolidated balance sheet at December 31, 2017, was derived from audited financial statements, but does not include all disclosures required by U.S. 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, 2018
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, 2017. The following are new or revised disclosures or disclosures required on a quarterly basis. Recently Adopted Accounting Pronouncements In January 2016, the Financial Accounting Standards Board (“FASB”) revised U.S. GAAP with the issuance of Accounting Standards Update (“ASU”) 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In August 2016, the FASB revised U.S. GAAP with the issuance of ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments In November 2016, the FASB revised U.S. GAAP, Statement of Cash Flows (Topic 230): Restricted Cash In February 2018, the FASB revised U.S. GAAP, Comprehensive Income (Topic 220) Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income

Investments

Investments	9 Months Ended
	Sep. 30, 2018
Investments Debt And Equity Securities [Abstract]
Investments	3. Investments Securities Available for Sale The following table provides the amortized cost and fair value of debt and short-term investment securities available for sale as of the dates presented (in thousands): September 30, 2018 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Debt Securities: U.S. government obligations and agencies $ 67,442 $ 15 $ (1,459 ) $ 65,998 Corporate bonds 415,600 532 (6,165 ) 409,967 Mortgage-backed and asset-backed securities 275,128 23 (5,923 ) 269,228 Municipal bonds 3,401 — (123 ) 3,278 Redeemable preferred stock 11,922 206 (191 ) 11,937 Total $ 773,493 $ 776 $ (13,861 ) $ 760,408 December 31, 2017 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Debt Securities: U.S. government obligations and agencies $ 60,481 $ — $ (877 ) $ 59,604 Corporate bonds 228,336 476 (1,308 ) 227,504 Mortgage-backed and asset-backed securities 221,956 19 (2,523 ) 219,452 Municipal bonds 120,883 599 (1,187 ) 120,295 Redeemable preferred stock 12,059 485 (65 ) 12,479 Short-term investments 10,000 — — 10,000 Total $ 653,715 $ 1,579 $ (5,960 ) $ 649,334 The following table provides the credit quality of available-for-sale debt securities with contractual maturities as of the dates presented (dollars in thousands): September 30, 2018 December 31, 2017 (1) % of Total % of Total Average Credit Ratings Fair Value Fair Value Fair Value Fair Value AAA $ 344,801 45.3 % $ 317,313 48.9 % AA 92,411 12.2 % 129,573 20.0 % A 216,074 28.4 % 146,749 22.6 % BBB 103,427 13.6 % 51,020 7.8 % BB+ and Below 117 0.0 % 1,569 0.2 % No Rating Available 3,578 0.5 % 3,110 0.5 % Total $ 760,408 100.0 % $ 649,334 100.0 % (1) The credit ratings in the table above have been reclassified from the prior periods’ consolidated financial statements to conform to the current periods’ presentation. The table above includes credit quality ratings by Standard and Poor’s Rating Services, Inc., Moody’s Investors Service, Inc. and Fitch Ratings, Inc. The Company has presented the highest rating of the three rating agencies for each investment position. The following table summarizes the amortized cost and fair value of mortgage-backed and asset-backed securities as of the dates presented (in thousands): September 30, 2018 December 31, 2017 Amortized Amortized Cost Fair Value Cost Fair Value Mortgage-backed Securities: Agency $ 152,068 $ 148,472 $ 118,014 $ 116,014 Non-agency 44,509 44,005 17,676 17,488 Asset-backed Securities: Auto loan receivables 28,983 28,649 35,105 34,962 Credit card receivables 23,836 23,665 38,844 38,719 Other receivables 25,732 24,437 12,317 12,269 Total $ 275,128 $ 269,228 $ 221,956 $ 219,452 The following table summarizes the fair value and gross unrealized losses on available-for-sale debt securities, 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, 2018 Less Than 12 Months 12 Months or Longer Number of Unrealized Number of Unrealized Issues Fair Value Losses Issues Fair Value Losses Debt Securities: U.S. government obligations and agencies 5 $ 15,734 $ (313 ) 11 $ 40,389 $ (1,146 ) Corporate bonds 413 316,750 (4,599 ) 66 51,245 (1,566 ) Mortgage-backed and asset-backed securities 86 135,530 (1,643 ) 98 109,884 (4,280 ) Municipal bonds 6 3,278 (123 ) — — — Redeemable preferred stock 98 4,739 (154 ) 1 408 (37 ) Total 608 $ 476,031 $ (6,832 ) 176 $ 201,926 $ (7,029 ) December 31, 2017 Less Than 12 Months 12 Months or Longer Number of Unrealized Number of Unrealized Issues Fair Value Losses Issues Fair Value Losses Debt Securities: U.S. government obligations and agencies 7 $ 35,464 $ (301 ) 9 $ 24,140 $ (576 ) Corporate bonds 159 142,208 (792 ) 39 29,796 (516 ) Mortgage-backed and asset-backed securities 83 137,481 (955 ) 37 70,218 (1,568 ) Municipal bonds 36 28,265 (246 ) 30 48,370 (941 ) Redeemable preferred stock 21 2,464 (65 ) — — — Total 306 $ 345,882 $ (2,359 ) 115 $ 172,524 $ (3,601 ) Evaluating Investments for Other Than Temporary Impairment (“OTTI”) As of September 30, 2018, the Company held available-for-sale debt securities that were in an unrealized loss position as presented in the table above. For available-for-sale debt 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 available-for-sale debt securities, the Company considers whether it has the intent and ability to hold the available-for-sale debt 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, our fixed income portfolio is of high quality and we believe that we will recover the amortized cost basis of our available-for-sale debt securities. We continually monitor the credit quality of our investments in available-for-sale debt securities 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 available-for-sale debt 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 of the available-for-sale debt securities as of September 30, 2018 are other than temporary. The following table presents the amortized cost and fair value of investments with contractual maturities as of the date presented (in thousands): September 30, 2018 Amortized Fair Value Due in one year or less $ 65,340 $ 65,054 Due after one year through five years 246,639 242,313 Due after five years through ten years 158,771 156,385 Due after ten years 15,693 15,491 Mortgage-backed and asset-backed securities 275,128 269,228 Perpetual maturity securities 11,922 11,937 Total $ 773,493 $ 760,408 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 available-for-sale debt securities and equity securities during the periods presented (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Proceeds from sales and maturities (fair value): Available-for-sale debt securities $ 32,287 $ 49,762 $ 225,989 $ 100,413 Equity securities $ 4,158 $ 18,056 $ 8,285 $ 75,027 Gross realized gains on sale of securities: Available-for-sale debt securities $ 1 $ 302 $ 318 $ 330 Equity securities $ 413 $ 547 $ 714 $ 2,332 Gross realized losses on sale of securities: Available-for-sale debt securities $ (11 ) $ (19 ) $ (3,125 ) $ (59 ) Equity securities $ — $ (27 ) $ — $ (153 ) 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, 2018 2017 2018 2017 Available-for-sale debt securities $ 4,595 $ 2,977 $ 12,390 $ 8,893 Equity securities 722 348 2,016 1,068 Available-for-sale short-term investments — — 145 22 Other (1) 2,106 319 4,765 651 Total investment income 7,423 3,644 19,316 10,634 Less: Investment expenses (2) (781 ) (559 ) (2,103 ) (1,622 ) Net investment (expense) income $ 6,642 $ 3,085 $ 17,213 $ 9,012 (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 custodial fees, investment accounting, advisory fees and expenses associated with real estate investments. Equity Securities The following table provides details on the realized and unrealized gains and losses related to equity securities for the periods presented (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Net gains and (losses) recognized during the period on equity securities $ (2,060 ) $ 520 $ (8,389 ) $ 2,179 Less: Net (gains) and losses recognized during the period on equity securities sold during the period (413 ) (520 ) (714 ) (2,179 ) Unrealized gains and (losses) recognized during the reporting period on equity securities still held at the reporting period $ (2,473 ) $ — $ (9,103 ) $ — Investment Real Estate Investment real estate consisted of the following as of the dates presented (in thousands): September 30, 2018 December 31, 2017 Income Producing: Investment real estate (1) $ 14,619 $ 6,918 Less: Accumulated depreciation (767 ) (460 ) 13,852 6,458 Non-Income Producing: Properties under development (1) 9,868 12,016 Investment real estate, net $ 23,720 $ 18,474 (1) During the nine months ended September 30, 2018, the Company transferred $7.4 million from properties under development to investment real estate. Depreciation expense related to investment real estate for the periods presented (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Depreciation expense on investment real estate $ 103 $ 45 $ 307 $ 134

Reinsurance

Reinsurance	9 Months Ended
	Sep. 30, 2018
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 programs consist of catastrophe excess of loss reinsurance, subject to the terms and conditions of the applicable agreements. The Company is responsible for certain retained loss amounts before reinsurance attaches and insured losses related to catastrophes and other events that exceed coverage provided by the reinsurance programs. The Company remains responsible for the settlement of insured losses irrespective of whether any of the reinsurers fail to make payments otherwise due. 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. 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 reinsurers whose aggregate balances due exceeded 3% of the Company’s stockholders’ equity as of the dates presented (in thousands): Ratings as of September 30, 2018 Due from as of Standard and Poor's Moody's AM Best Rating Investors December 31, Reinsurer Company Services, Inc. Service, Inc. 2017 Allianz Risk Transfer A+ AA Aa3 $ 105,573 Florida Hurricane Catastrophe Fund (1) n/a n/a n/a 52,054 Renaissance Reinsurance Ltd A+ A+ A1 22,545 Total (2) $ 180,172 (1) No rating is available, because the fund is not rated. (2) Amounts represent prepaid reinsurance premiums, reinsurance receivables, and net recoverables for paid and unpaid losses, including incurred but not reported reserves, loss adjustment expenses, and offsetting reinsurance payables . There were no amounts due from the reinsurers whose aggregate balance exceeded 3% of the Company’s stockholders’ equity as of September 30, 2018. 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, 2018 2017 Losses and Loss Losses and Loss Premiums Premiums Adjustment Premiums Premiums Adjustment Written Earned Expenses Written Earned Expenses Direct $ 309,176 $ 288,404 $ 270,158 $ 274,744 $ 254,809 $ 531,268 Ceded (17,256 ) (99,466 ) (184,211 ) (7,303 ) (80,292 ) (414,893 ) Net $ 291,920 $ 188,938 $ 85,947 $ 267,441 $ 174,517 $ 116,375 Nine Months Ended September 30, 2018 2017 Losses and Loss Losses and Loss Premiums Premiums Adjustment Premiums Premiums Adjustment Written Earned Expenses Written Earned Expenses Direct $ 921,941 $ 824,692 $ 593,419 $ 816,350 $ 735,807 $ 687,707 Ceded (356,507 ) (260,905 ) (341,704 ) (318,827 ) (230,722 ) (420,578 ) Net $ 565,434 $ 563,787 $ 251,715 $ 497,523 $ 505,085 $ 267,129 The following prepaid reinsurance premiums and reinsurance recoverable and receivable are reflected in the Condensed Consolidated Balance Sheets as of the dates presented (in thousands): September 30, December 31, 2018 2017 Prepaid reinsurance premiums $ 228,408 $ 132,806 Reinsurance recoverable on paid losses and LAE $ 27,037 $ — Reinsurance recoverable on unpaid losses and LAE 131,566 182,405 Reinsurance receivable, net 961 — Reinsurance recoverable and receivable $ 159,564 $ 182,405

Insurance Operations

Insurance Operations	9 Months Ended
	Sep. 30, 2018
Insurance [Abstract]
Insurance Operations	5. Insurance Operations Deferred Policy Acquisition Costs The Company defers certain costs relating to written premium, 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, 2018 2017 2018 2017 DPAC, beginning of period $ 88,756 $ 73,591 $ 73,059 $ 64,912 Capitalized Costs 44,389 36,999 136,758 110,653 Amortization of DPAC (42,502 ) (34,656 ) (119,174 ) (99,631 ) DPAC, end of period $ 90,643 $ 75,934 $ 90,643 $ 75,934 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 the Florida Insurance Code. These dividends are referred to as “ordinary dividends.” However, if the 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 Insurance Code, and based on the calculations performed by the Company as of December 31, 2017, UPCIC has the capacity to pay ordinary dividends of $36.2 million during 2018. The Florida Insurance Code requires insurance companies to maintain capitalization equivalent to the greater of ten percent of the insurer’s total liabilities but not less than $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, 2018 2017 Ten percent of total liabilities UPCIC $ 88,901 $ 72,633 APPCIC $ 538 $ 572 Statutory capital and surplus UPCIC $ 343,302 $ 307,686 APPCIC $ 16,045 $ 16,633 As of the dates in the table above, both UPCIC and APPCIC exceeded the minimum statutory capitalization requirement. UPCIC also met the capitalization requirements of the other states in which it is licensed as of September 30, 2018. UPCIC and APPCIC are also required to adhere to prescribed premium-to-capital surplus ratios and have met those requirements at such dates. The following table summarizes combined net income (loss) for UPCIC and APPCIC determined in accordance with statutory accounting practices for the periods presented (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Combined net income (loss) $ 5,468 $ (9,662 ) $ 49,190 $ 33,532 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, 2018 2017 Restricted cash and cash equivalents $ 2,635 $ 2,635 Investments $ 3,914 $ 3,910

Liability for Unpaid Losses and

Liability for Unpaid Losses and Loss Adjustment Expenses	9 Months Ended
	Sep. 30, 2018
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, 2018 2017 2018 2017 Balance at beginning of period $ 151,916 $ 22,645 $ 248,425 $ 58,494 Less: Reinsurance recoverable (net of payable offsets) (96,733 ) (1,393 ) (182,405 ) (106 ) Net balance at beginning of period 55,183 21,252 66,020 58,388 Incurred (recovered) related to: Current year 85,986 116,262 249,488 265,811 Prior years (39 ) 113 2,227 1,318 Total incurred 85,947 116,375 251,715 267,129 Paid related to: Current year 72,034 93,969 140,013 179,000 Prior years 38,372 15,912 146,998 118,771 Total paid 110,406 109,881 287,011 297,771 Net balance at end of period 30,724 27,746 30,724 27,746 Plus: Reinsurance recoverable (net of payable offsets) 127,943 412,697 127,943 412,697 Balance at end of period $ 158,667 $ 440,443 $ 158,667 $ 440,443 D uring the third quarter of 2018, the Company recorded prior year adverse development to increase its estimate of ultimate losses for the third quarter 2017 storm, Hurricane Irma, to $754.0 million from $446.7 million recorded as of 2017 year-end. The prior year adverse development of $311.7 million in direct losses resulted in net losses of $2.2 million after the benefit of reinsurance recoveries, including those related to Hurricane Irma. The increase in the ultimate loss and LAE from Hurricane Irma was the result of a continuation of new reported claims and litigation costs associated with the aggressive nature of plaintiff attorneys on claims in Florida. The nine months ended September 30, 2017 included prior year loss reserve development of $6.9 million on a direct basis ($1.3 million on a net basis), primarily reflecting strengthening of reserves for the fourth quarter 2016 storm, Hurricane Matthew.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2018
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, 2018 2017 Surplus note $ 11,765 $ 12,868 In 2006, UPCIC entered into a $25.0 million surplus note with the State Board of Administration of Florida (the “SBA”) under Florida’s Insurance Capital Build-Up Incentive Program (the “ICBUI”). The surplus note has a twenty-year term and accrues interest, adjusted quarterly based on the 10-year Constant Maturity Treasury Index. UPCIC was in compliance with the terms of the surplus note as of September 30, 2018.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2018
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, 2018 (in thousands): Issued Treasury Outstanding Shares Shares Shares Balance, as of December 31, 2017 45,778 (11,043 ) 34,735 Shares repurchased — (342 ) (342 ) Vesting of performance share units 127 — 127 Stock option exercises 1,325 — 1,325 Restricted stock grants 50 — 50 Shares acquired through cashless exercise (1) — (962 ) (962 ) Shares cancelled (962 ) 962 — Balance, as of September 30, 2018 46,318 (11,385 ) 34,933 (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 September 2017, UVE’s 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 the Company’s outstanding shares of common stock through December 31, 2018. During the nine months ended September 30, 2018, UVE repurchased 342,749 shares, at an aggregate price of approximately $11.1 million, pursuant to such repurchase program. Dividends The following table summarizes the dividends declared and paid by the Company: Dividend Shareholders Dividend Cash Dividend 2018 Declared Date Record Date Payable Date Per Share Amount First Quarter January 22, 2018 February 28, 2018 March 12, 2018 $ 0.14 Second Quarter April 12, 2018 April 27, 2018 May 4, 2018 $ 0.14 Third Quarter May 29, 2018 July 2, 2018 July 16, 2018 $ 0.16

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	9. Income Taxes During the three months ended September 30, 2018 and 2017, the Company recorded approximately $13.8 million and $6.6 million of income tax expense, respectively. The effective tax rate (“ETR”) f During the nine months ended September 30, 2018 and 2017, the Company recorded approximately $40.6 million and $41.4 million of income tax expense, respectively. The ETR for the nine months ended September 30, 2018 was 24.7% compared to a 37.0% ETR for the same period in 2017. 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 , Income tax expense for the three months ended September 30, 2018 included a net debit for discrete items of $0.2 million driven by an income tax accrual adjustment of $0.9 million relating to return to provision true ups for federal and state jurisdictions, offset by excess tax benefits of $0.7 million resulting from stock-based compensation awards that were exercised during the third quarter in 2018, which thereby increased the current quarter’s ETR by 0.4 percent. Income tax expense for the three months ended September 30, 2017 included a net credit for discrete items of $0.2 million relating to prior year return to provision true ups for federal and state jurisdictions. Income tax expense for the nine months ended September 30, 2018 included a net credit of $2.0 million driven by the excess tax benefits of $3.3 million The Company’s income tax provision reflects an estimated annual ETR of 26.0% for 2018, calculated before the impact of discrete items. The statutory tax rate consists of a federal income tax rate of 21% and a state income tax rate, net of federal benefit, of 3.7%. The Company files its tax returns as prescribed by the tax laws of the jurisdictions in which it operates. As of September 30, 2018, the Company’s 2015 through 2017 tax years are still subject to examination by the Internal Revenue Service (“IRS”) and various tax years remain open to examination in certain state jurisdictions. In February 2018, the Company received notification from the IRS with respect to an examination of the 2015 tax return. During the third quarter in 2018, the IRS completed its examination of the Company for the 2015 tax year and issued a final Revenue Agent Report with no adjustments.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Earnings Per Share	10. Earnings Per Share Basic earnings per share (“EPS”) is computed 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 exercises 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, 2018 2017 2018 2017 Numerator for EPS: Net income $ 37,380 $ 9,964 $ 123,519 $ 70,539 Less: Preferred stock dividends (3 ) (3 ) (8 ) (8 ) Income available to common stockholders $ 37,377 $ 9,961 $ 123,511 $ 70,531 Denominator for EPS: Weighted average common shares outstanding 34,861 34,686 34,870 34,927 Plus: Assumed conversion of share-based compensation (1) 1,033 904 859 965 Assumed conversion of preferred stock 25 25 25 25 Weighted average diluted common shares outstanding 35,919 35,615 35,754 35,917 Basic earnings per common share $ 1.07 $ 0.29 $ 3.54 $ 2.02 Diluted earnings per common share $ 1.04 $ 0.28 $ 3.45 $ 1.96 (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, 2018
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, 2018 2017 Pre-tax Tax After-tax Pre-tax Tax After-tax Net changes related to available-for-sale securities: Unrealized holding gains (losses) arising during the period $ (989 ) $ (244 ) $ (745 ) $ 1,207 $ 461 $ 746 Less: Reclassification adjustment for (gains) losses realized in net income 10 2 8 (803 ) (308 ) (495 ) Other comprehensive income (loss) (979 ) (242 ) (737 ) 404 153 251 Reclassification adjustments to retained earnings (1) — — — — — — Change in accumulated other comprehensive income (loss) $ (979 ) $ (242 ) $ (737 ) $ 404 $ 153 $ 251 Nine Months Ended September 30, 2018 2017 Pre-tax Tax After-tax Pre-tax Tax After-tax Net changes related to available-for-sale securities: Unrealized holding gains (losses) arising during the period $ (11,511 ) $ (2,751 ) $ (8,760 ) $ 9,248 $ 3,535 $ 5,713 Less: Reclassification adjustment for (gains) losses realized in net income 2,807 683 2,124 (2,450 ) (938 ) (1,512 ) Other comprehensive income (loss) (8,704 ) (2,068 ) (6,636 ) 6,798 2,597 4,201 Reclassification adjustments to retained earnings (1) 5,830 2,811 3,019 — — — Change in accumulated other comprehensive income (loss) $ (2,874 ) $ 743 $ (3,617 ) $ 6,798 $ 2,597 $ 4,201 (1) This amount represents reclassifications to retained earnings associated with the disproportional income tax effects of the Tax Act on items within AOCI and unrealized losses in AOCI relating to Available for Sale equity security investments. See “—Note 2 (Significant Accounting Policies — Recently Adopted Accounting Pronouncements)” for more information. The following table provides the reclassifications adjustment for gains (losses) out of accumulated other comprehensive income for the periods presented (in thousands): Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Details about Accumulated Other Comprehensive Three Months Ended September 30, Nine Months Ended September 30, Affected Line Item in the Statement Income (Loss) Components 2018 2017 2018 2017 Where Net Income is Presented Unrealized gains (losses) on available-for-sale debt securities $ (10 ) $ 803 $ (2,807 ) $ 2,450 Net realized gains (losses) sale of securities 2 (308 ) 683 (938 ) Income taxes Total reclassification for the period $ (8 ) $ 495 $ (2,124 ) $ 1,512 Net of tax

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2018
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies Obligations under Multi-Year Reinsurance Contracts We purchase reinsurance coverage to protect our capital and to limit our losses when major events occur. Our reinsurance commitments run from June 1 of the current year to May 31 of the following year. Certain of our reinsurance agreements are for periods longer than one year. Amounts payable for coverage during the current June 1 st st 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 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, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	13. Fair Value Measurements U.S. 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. U.S. 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. U.S. 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 U.S. 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 measured at fair value on a recurring basis as of the dates presented (in thousands): Fair Value Measurements September 30, 2018 Level 1 Level 2 Level 3 Total Available-For-Sale Debt Securities: Fixed Maturities: U.S. government obligations and agencies $ — $ 65,998 $ — $ 65,998 Corporate bonds — 409,967 — 409,967 Mortgage-backed and asset-backed securities — 269,228 — 269,228 Municipal bonds — 3,278 — 3,278 Redeemable preferred stock — 11,937 — 11,937 Equity Securities: Common stock 20,575 — — 20,575 Mutual funds 48,533 — — 48,533 Total assets accounted for at fair value $ 69,108 $ 760,408 $ — $ 829,516 Fair Value Measurements December 31, 2017 Level 1 Level 2 Level 3 Total Available-For-Sale Debt Securities: Fixed Maturities: U.S. government obligations and agencies $ — $ 59,604 $ — $ 59,604 Corporate bonds — 227,504 — 227,504 Mortgage-backed and asset-backed securities — 219,452 — 219,452 Municipal bonds — 120,295 — 120,295 Redeemable preferred stock — 12,479 — 12,479 Equity Securities: Common stock 18,811 — — 18,811 Mutual funds 43,404 — — 43,404 Available-for-sale short-term investments — 10,000 — 10,000 Total assets accounted for at fair value $ 62,215 $ 649,334 $ — $ 711,549 The Company utilizes third-party independent pricing services that provide a price quote for each available-for-sale debt security, equity security and available-for-sale 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 available-for-sale debt securities, equity securities or available-for-sale short-term investments included in the tables above. The following table summarizes the carrying value and estimated fair values of the Company’s financial instruments not carried at fair value as of the dates presented (in thousands): September 30, 2018 December 31, 2017 (Level 3) (Level 3) Estimated Estimated Carrying Value Carrying Value Liabilities (debt): Surplus note $ 11,765 $ 10,501 $ 12,868 $ 11,630 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 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.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2018
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, 2018. Hurricane Michael initially made landfall as a strong Category 4 hurricane along the Florida Panhandle on October 10, 2018, primarily impacting Florida, Georgia, and several other Southeastern U.S. states. The storm is expected to produce gross losses and loss adjustment expenses of $300-350 million for the Company, resulting in anticipated total net pre-tax losses and loss adjustment expenses of $35 million. However, to the extent the Company experiences any additional reinsurance recoveries from its supplemental Non-Florida reinsurance program, those recoveries could serve to partially reduce this $35 million retention.

Nature of Operations and Basi_2

Nature of Operations and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2018
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 (“U.S. 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, 2017, filed with the SEC on February 23, 2018. The condensed consolidated balance sheet at December 31, 2017, was derived from audited financial statements, but does not include all disclosures required by U.S. 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 January 2016, the Financial Accounting Standards Board (“FASB”) revised U.S. GAAP with the issuance of Accounting Standards Update (“ASU”) 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In August 2016, the FASB revised U.S. GAAP with the issuance of ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments In November 2016, the FASB revised U.S. GAAP, Statement of Cash Flows (Topic 230): Restricted Cash In February 2018, the FASB revised U.S. GAAP, Comprehensive Income (Topic 220) Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2018
Investments Available For Sale Debt Securities [Abstract]
Cost or Amortized Cost and Fair Value of Debt and Short-term Investment Securities Available for Sale	The following table provides the amortized cost and fair value of debt and short-term investment securities available for sale as of the dates presented (in thousands): September 30, 2018 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Debt Securities: U.S. government obligations and agencies $ 67,442 $ 15 $ (1,459 ) $ 65,998 Corporate bonds 415,600 532 (6,165 ) 409,967 Mortgage-backed and asset-backed securities 275,128 23 (5,923 ) 269,228 Municipal bonds 3,401 — (123 ) 3,278 Redeemable preferred stock 11,922 206 (191 ) 11,937 Total $ 773,493 $ 776 $ (13,861 ) $ 760,408 December 31, 2017 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Debt Securities: U.S. government obligations and agencies $ 60,481 $ — $ (877 ) $ 59,604 Corporate bonds 228,336 476 (1,308 ) 227,504 Mortgage-backed and asset-backed securities 221,956 19 (2,523 ) 219,452 Municipal bonds 120,883 599 (1,187 ) 120,295 Redeemable preferred stock 12,059 485 (65 ) 12,479 Short-term investments 10,000 — — 10,000 Total $ 653,715 $ 1,579 $ (5,960 ) $ 649,334
Schedule of Credit Quality of Available-for-sale Debt Securities With Contractual Maturities	The following table provides the credit quality of available-for-sale debt securities with contractual maturities as of the dates presented (dollars in thousands): September 30, 2018 December 31, 2017 (1) % of Total % of Total Average Credit Ratings Fair Value Fair Value Fair Value Fair Value AAA $ 344,801 45.3 % $ 317,313 48.9 % AA 92,411 12.2 % 129,573 20.0 % A 216,074 28.4 % 146,749 22.6 % BBB 103,427 13.6 % 51,020 7.8 % BB+ and Below 117 0.0 % 1,569 0.2 % No Rating Available 3,578 0.5 % 3,110 0.5 % Total $ 760,408 100.0 % $ 649,334 100.0 % (1) The credit ratings in the table above have been reclassified from the prior periods’ consolidated financial statements to conform to the current periods’ presentation.
Schedule of Amortized Cost and Fair Value on Mortgage-Backed and Asset-Backed Securities	The following table summarizes the amortized cost and fair value of mortgage-backed and asset-backed securities as of the dates presented (in thousands): September 30, 2018 December 31, 2017 Amortized Amortized Cost Fair Value Cost Fair Value Mortgage-backed Securities: Agency $ 152,068 $ 148,472 $ 118,014 $ 116,014 Non-agency 44,509 44,005 17,676 17,488 Asset-backed Securities: Auto loan receivables 28,983 28,649 35,105 34,962 Credit card receivables 23,836 23,665 38,844 38,719 Other receivables 25,732 24,437 12,317 12,269 Total $ 275,128 $ 269,228 $ 221,956 $ 219,452
Summarized Fair Value and Gross Unrealized Losses on Available-for-sale Debt Securities	The following table summarizes the fair value and gross unrealized losses on available-for-sale debt securities, 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, 2018 Less Than 12 Months 12 Months or Longer Number of Unrealized Number of Unrealized Issues Fair Value Losses Issues Fair Value Losses Debt Securities: U.S. government obligations and agencies 5 $ 15,734 $ (313 ) 11 $ 40,389 $ (1,146 ) Corporate bonds 413 316,750 (4,599 ) 66 51,245 (1,566 ) Mortgage-backed and asset-backed securities 86 135,530 (1,643 ) 98 109,884 (4,280 ) Municipal bonds 6 3,278 (123 ) — — — Redeemable preferred stock 98 4,739 (154 ) 1 408 (37 ) Total 608 $ 476,031 $ (6,832 ) 176 $ 201,926 $ (7,029 ) December 31, 2017 Less Than 12 Months 12 Months or Longer Number of Unrealized Number of Unrealized Issues Fair Value Losses Issues Fair Value Losses Debt Securities: U.S. government obligations and agencies 7 $ 35,464 $ (301 ) 9 $ 24,140 $ (576 ) Corporate bonds 159 142,208 (792 ) 39 29,796 (516 ) Mortgage-backed and asset-backed securities 83 137,481 (955 ) 37 70,218 (1,568 ) Municipal bonds 36 28,265 (246 ) 30 48,370 (941 ) Redeemable preferred stock 21 2,464 (65 ) — — — Total 306 $ 345,882 $ (2,359 ) 115 $ 172,524 $ (3,601 )
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, 2018 Amortized Fair Value Due in one year or less $ 65,340 $ 65,054 Due after one year through five years 246,639 242,313 Due after five years through ten years 158,771 156,385 Due after ten years 15,693 15,491 Mortgage-backed and asset-backed securities 275,128 269,228 Perpetual maturity securities 11,922 11,937 Total $ 773,493 $ 760,408
Summary of Available-for-sale Debt Securities and Equity Securities	The following table provides certain information related to available-for-sale debt securities and equity securities during the periods presented (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Proceeds from sales and maturities (fair value): Available-for-sale debt securities $ 32,287 $ 49,762 $ 225,989 $ 100,413 Equity securities $ 4,158 $ 18,056 $ 8,285 $ 75,027 Gross realized gains on sale of securities: Available-for-sale debt securities $ 1 $ 302 $ 318 $ 330 Equity securities $ 413 $ 547 $ 714 $ 2,332 Gross realized losses on sale of securities: Available-for-sale debt securities $ (11 ) $ (19 ) $ (3,125 ) $ (59 ) Equity securities $ — $ (27 ) $ — $ (153 )
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, 2018 2017 2018 2017 Available-for-sale debt securities $ 4,595 $ 2,977 $ 12,390 $ 8,893 Equity securities 722 348 2,016 1,068 Available-for-sale short-term investments — — 145 22 Other (1) 2,106 319 4,765 651 Total investment income 7,423 3,644 19,316 10,634 Less: Investment expenses (2) (781 ) (559 ) (2,103 ) (1,622 ) Net investment (expense) income $ 6,642 $ 3,085 $ 17,213 $ 9,012 (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 custodial fees, investment accounting, advisory fees and expenses associated with real estate investments.
Summary of Details on Realized and Unrealized Gains and Losses Related to Equity Securities	The following table provides details on the realized and unrealized gains and losses related to equity securities for the periods presented (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Net gains and (losses) recognized during the period on equity securities $ (2,060 ) $ 520 $ (8,389 ) $ 2,179 Less: Net (gains) and losses recognized during the period on equity securities sold during the period (413 ) (520 ) (714 ) (2,179 ) Unrealized gains and (losses) recognized during the reporting period on equity securities still held at the reporting period $ (2,473 ) $ — $ (9,103 ) $ —
Schedule of Real Estate Investment	Investment real estate consisted of the following as of the dates presented (in thousands): September 30, 2018 December 31, 2017 Income Producing: Investment real estate (1) $ 14,619 $ 6,918 Less: Accumulated depreciation (767 ) (460 ) 13,852 6,458 Non-Income Producing: Properties under development (1) 9,868 12,016 Investment real estate, net $ 23,720 $ 18,474 (1) During the nine months ended September 30, 2018, the Company transferred $7.4 million from properties under development to investment real estate.
Schedule of Depreciation Expense Related to Investment Real Estate	Depreciation expense related to investment real estate for the periods presented (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Depreciation expense on investment real estate $ 103 $ 45 $ 307 $ 134

Reinsurance (Tables)

Reinsurance (Tables)	9 Months Ended
	Sep. 30, 2018
Insurance [Abstract]
Current Ratings from Rating Agencies and Unsecured Net Amounts Due from Insurance Entities' Reinsurers Whose Aggregate Balance Exceeded 3% of Stockholders' Equity	The following table presents ratings from rating agencies and the unsecured amounts due from the reinsurers whose aggregate balances due exceeded 3% of the Company’s stockholders’ equity as of the dates presented (in thousands): Ratings as of September 30, 2018 Due from as of Standard and Poor's Moody's AM Best Rating Investors December 31, Reinsurer Company Services, Inc. Service, Inc. 2017 Allianz Risk Transfer A+ AA Aa3 $ 105,573 Florida Hurricane Catastrophe Fund (1) n/a n/a n/a 52,054 Renaissance Reinsurance Ltd A+ A+ A1 22,545 Total (2) $ 180,172 (1) No rating is available, because the fund is not rated. (2) Amounts represent prepaid reinsurance premiums, reinsurance receivables, and net recoverables for paid and unpaid losses, including incurred but not reported reserves, loss adjustment expenses, and offsetting reinsurance payables .
Summary of Effects of Insurance Entities' 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, 2018 2017 Losses and Loss Losses and Loss Premiums Premiums Adjustment Premiums Premiums Adjustment Written Earned Expenses Written Earned Expenses Direct $ 309,176 $ 288,404 $ 270,158 $ 274,744 $ 254,809 $ 531,268 Ceded (17,256 ) (99,466 ) (184,211 ) (7,303 ) (80,292 ) (414,893 ) Net $ 291,920 $ 188,938 $ 85,947 $ 267,441 $ 174,517 $ 116,375 Nine Months Ended September 30, 2018 2017 Losses and Loss Losses and Loss Premiums Premiums Adjustment Premiums Premiums Adjustment Written Earned Expenses Written Earned Expenses Direct $ 921,941 $ 824,692 $ 593,419 $ 816,350 $ 735,807 $ 687,707 Ceded (356,507 ) (260,905 ) (341,704 ) (318,827 ) (230,722 ) (420,578 ) Net $ 565,434 $ 563,787 $ 251,715 $ 497,523 $ 505,085 $ 267,129
Prepaid Reinsurance Premiums and Reinsurance Recoverable and Receivable	The following prepaid reinsurance premiums and reinsurance recoverable and receivable are reflected in the Condensed Consolidated Balance Sheets as of the dates presented (in thousands): September 30, December 31, 2018 2017 Prepaid reinsurance premiums $ 228,408 $ 132,806 Reinsurance recoverable on paid losses and LAE $ 27,037 $ — Reinsurance recoverable on unpaid losses and LAE 131,566 182,405 Reinsurance receivable, net 961 — Reinsurance recoverable and receivable $ 159,564 $ 182,405

Insurance Operations (Tables)

Insurance Operations (Tables)	9 Months Ended
	Sep. 30, 2018
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, 2018 2017 2018 2017 DPAC, beginning of period $ 88,756 $ 73,591 $ 73,059 $ 64,912 Capitalized Costs 44,389 36,999 136,758 110,653 Amortization of DPAC (42,502 ) (34,656 ) (119,174 ) (99,631 ) DPAC, end of period $ 90,643 $ 75,934 $ 90,643 $ 75,934
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, 2018 2017 Ten percent of total liabilities UPCIC $ 88,901 $ 72,633 APPCIC $ 538 $ 572 Statutory capital and surplus UPCIC $ 343,302 $ 307,686 APPCIC $ 16,045 $ 16,633
Summary of Combined Net Income (Loss) for UPCIC and APPCIC	The following table summarizes combined net income (loss) for UPCIC and APPCIC determined in accordance with statutory accounting practices for the periods presented (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Combined net income (loss) $ 5,468 $ (9,662 ) $ 49,190 $ 33,532
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, 2018 2017 Restricted cash and cash equivalents $ 2,635 $ 2,635 Investments $ 3,914 $ 3,910

Liability for Unpaid Losses a_2

Liability for Unpaid Losses and Loss Adjustment Expenses (Tables)	9 Months Ended
	Sep. 30, 2018
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, 2018 2017 2018 2017 Balance at beginning of period $ 151,916 $ 22,645 $ 248,425 $ 58,494 Less: Reinsurance recoverable (net of payable offsets) (96,733 ) (1,393 ) (182,405 ) (106 ) Net balance at beginning of period 55,183 21,252 66,020 58,388 Incurred (recovered) related to: Current year 85,986 116,262 249,488 265,811 Prior years (39 ) 113 2,227 1,318 Total incurred 85,947 116,375 251,715 267,129 Paid related to: Current year 72,034 93,969 140,013 179,000 Prior years 38,372 15,912 146,998 118,771 Total paid 110,406 109,881 287,011 297,771 Net balance at end of period 30,724 27,746 30,724 27,746 Plus: Reinsurance recoverable (net of payable offsets) 127,943 412,697 127,943 412,697 Balance at end of period $ 158,667 $ 440,443 $ 158,667 $ 440,443

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2018
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, 2018 2017 Surplus note $ 11,765 $ 12,868

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2018
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, 2018 (in thousands): Issued Treasury Outstanding Shares Shares Shares Balance, as of December 31, 2017 45,778 (11,043 ) 34,735 Shares repurchased — (342 ) (342 ) Vesting of performance share units 127 — 127 Stock option exercises 1,325 — 1,325 Restricted stock grants 50 — 50 Shares acquired through cashless exercise (1) — (962 ) (962 ) Shares cancelled (962 ) 962 — Balance, as of September 30, 2018 46,318 (11,385 ) 34,933 (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.
Summary of Dividends Declared and Paid	The following table summarizes the dividends declared and paid by the Company: Dividend Shareholders Dividend Cash Dividend 2018 Declared Date Record Date Payable Date Per Share Amount First Quarter January 22, 2018 February 28, 2018 March 12, 2018 $ 0.14 Second Quarter April 12, 2018 April 27, 2018 May 4, 2018 $ 0.14 Third Quarter May 29, 2018 July 2, 2018 July 16, 2018 $ 0.16

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2018
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, 2018 2017 2018 2017 Numerator for EPS: Net income $ 37,380 $ 9,964 $ 123,519 $ 70,539 Less: Preferred stock dividends (3 ) (3 ) (8 ) (8 ) Income available to common stockholders $ 37,377 $ 9,961 $ 123,511 $ 70,531 Denominator for EPS: Weighted average common shares outstanding 34,861 34,686 34,870 34,927 Plus: Assumed conversion of share-based compensation (1) 1,033 904 859 965 Assumed conversion of preferred stock 25 25 25 25 Weighted average diluted common shares outstanding 35,919 35,615 35,754 35,917 Basic earnings per common share $ 1.07 $ 0.29 $ 3.54 $ 2.02 Diluted earnings per common share $ 1.04 $ 0.28 $ 3.45 $ 1.96 (1) Represents the dilutive effect of unvested restricted stock, unvested performance share units and unexercised stock options.

Other Comprehensive Income (L_2

Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2018
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, 2018 2017 Pre-tax Tax After-tax Pre-tax Tax After-tax Net changes related to available-for-sale securities: Unrealized holding gains (losses) arising during the period $ (989 ) $ (244 ) $ (745 ) $ 1,207 $ 461 $ 746 Less: Reclassification adjustment for (gains) losses realized in net income 10 2 8 (803 ) (308 ) (495 ) Other comprehensive income (loss) (979 ) (242 ) (737 ) 404 153 251 Reclassification adjustments to retained earnings (1) — — — — — — Change in accumulated other comprehensive income (loss) $ (979 ) $ (242 ) $ (737 ) $ 404 $ 153 $ 251 Nine Months Ended September 30, 2018 2017 Pre-tax Tax After-tax Pre-tax Tax After-tax Net changes related to available-for-sale securities: Unrealized holding gains (losses) arising during the period $ (11,511 ) $ (2,751 ) $ (8,760 ) $ 9,248 $ 3,535 $ 5,713 Less: Reclassification adjustment for (gains) losses realized in net income 2,807 683 2,124 (2,450 ) (938 ) (1,512 ) Other comprehensive income (loss) (8,704 ) (2,068 ) (6,636 ) 6,798 2,597 4,201 Reclassification adjustments to retained earnings (1) 5,830 2,811 3,019 — — — Change in accumulated other comprehensive income (loss) $ (2,874 ) $ 743 $ (3,617 ) $ 6,798 $ 2,597 $ 4,201 (1) This amount represents reclassifications to retained earnings associated with the disproportional income tax effects of the Tax Act on items within AOCI and unrealized losses in AOCI relating to Available for Sale equity security investments. See “—Note 2 (Significant Accounting Policies — Recently Adopted Accounting Pronouncements)” for more information.
Reclassifications Adjustment for Gains (Losses) Out of Accumulated Other Comprehensive Income	The following table provides the reclassifications adjustment for gains (losses) out of accumulated other comprehensive income for the periods presented (in thousands): Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Details about Accumulated Other Comprehensive Three Months Ended September 30, Nine Months Ended September 30, Affected Line Item in the Statement Income (Loss) Components 2018 2017 2018 2017 Where Net Income is Presented Unrealized gains (losses) on available-for-sale debt securities $ (10 ) $ 803 $ (2,807 ) $ 2,450 Net realized gains (losses) sale of securities 2 (308 ) 683 (938 ) Income taxes Total reclassification for the period $ (8 ) $ 495 $ (2,124 ) $ 1,512 Net of tax

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2018
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 measured at fair value on a recurring basis as of the dates presented (in thousands): Fair Value Measurements September 30, 2018 Level 1 Level 2 Level 3 Total Available-For-Sale Debt Securities: Fixed Maturities: U.S. government obligations and agencies $ — $ 65,998 $ — $ 65,998 Corporate bonds — 409,967 — 409,967 Mortgage-backed and asset-backed securities — 269,228 — 269,228 Municipal bonds — 3,278 — 3,278 Redeemable preferred stock — 11,937 — 11,937 Equity Securities: Common stock 20,575 — — 20,575 Mutual funds 48,533 — — 48,533 Total assets accounted for at fair value $ 69,108 $ 760,408 $ — $ 829,516 Fair Value Measurements December 31, 2017 Level 1 Level 2 Level 3 Total Available-For-Sale Debt Securities: Fixed Maturities: U.S. government obligations and agencies $ — $ 59,604 $ — $ 59,604 Corporate bonds — 227,504 — 227,504 Mortgage-backed and asset-backed securities — 219,452 — 219,452 Municipal bonds — 120,295 — 120,295 Redeemable preferred stock — 12,479 — 12,479 Equity Securities: Common stock 18,811 — — 18,811 Mutual funds 43,404 — — 43,404 Available-for-sale short-term investments — 10,000 — 10,000 Total assets accounted for at fair value $ 62,215 $ 649,334 $ — $ 711,549
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 not carried at fair value as of the dates presented (in thousands): September 30, 2018 December 31, 2017 (Level 3) (Level 3) Estimated Estimated Carrying Value Carrying Value Liabilities (debt): Surplus note $ 11,765 $ 10,501 $ 12,868 $ 11,630

Nature of Operations and Basi_3

Nature of Operations and Basis of Presentation - Additional Information (Detail)	Sep. 30, 2018State
Accounting Policies [Abstract]
Number of states	17

Significant Accounting Polici_2

Significant Accounting Policies - Additional Information (Detail) $ in Millions	Sep. 30, 2018USD ($)
ASU 2016-01 [Member]
Schedule Of Significant Accounting Policies [Line Items]
Reclassification from accumulated other comprehensive income to retained earnings	$ 3.6
ASU 2018-02 [Member]
Schedule Of Significant Accounting Policies [Line Items]
Reclassification from accumulated other comprehensive income to retained earnings	$ 0.6

Investments - Cost or Amortized

Investments - Cost or Amortized Cost and Fair Value of Debt and Short-term Investment Securities Available for Sale (Detail) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Cost or Amortized Cost	$ 773,493
Available-for-sale debt securities	760,408	$ 639,334
Total Cost or Amortized Cost	773,493	653,715
Total Gross Unrealized Gains	776	1,579
Total Gross Unrealized Losses	(13,861)	(5,960)
Total Fair Value	760,408	649,334
Short-term investments, Cost or Amortized Cost		10,000
Short-term investments, Fair Value		10,000
U.S. Government Obligations and Agencies [Member]
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Cost or Amortized Cost	67,442	60,481
Debt Securities, Gross Unrealized Gains	15
Debt Securities, Gross Unrealized Losses	(1,459)	(877)
Available-for-sale debt securities	65,998	59,604
Corporate Bonds [Member]
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Cost or Amortized Cost	415,600	228,336
Debt Securities, Gross Unrealized Gains	532	476
Debt Securities, Gross Unrealized Losses	(6,165)	(1,308)
Available-for-sale debt securities	409,967	227,504
Mortgage-Backed and Asset-Backed Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Cost or Amortized Cost	275,128	221,956
Debt Securities, Gross Unrealized Gains	23	19
Debt Securities, Gross Unrealized Losses	(5,923)	(2,523)
Available-for-sale debt securities	269,228	219,452
Municipal Bonds [Member]
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Cost or Amortized Cost	3,401	120,883
Debt Securities, Gross Unrealized Gains		599
Debt Securities, Gross Unrealized Losses	(123)	(1,187)
Available-for-sale debt securities	3,278	120,295
Redeemable Preferred Stock [Member]
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Cost or Amortized Cost	11,922	12,059
Debt Securities, Gross Unrealized Gains	206	485
Debt Securities, Gross Unrealized Losses	(191)	(65)
Available-for-sale debt securities	$ 11,937	$ 12,479

Investments - Schedule of Credi

Investments - Schedule of Credit Quality of Available-for-sale Debt Securities With Contractual Maturities (Detail) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Schedule Of Available For Sale Securities [Line Items]
Fair Value	$ 760,408	$ 649,334
Percentage of Total Fair Value	100.00%	100.00%
Comparable Ratings, AAA Rating [Member]
Schedule Of Available For Sale Securities [Line Items]
Fair Value	$ 344,801	$ 317,313
Percentage of Total Fair Value	45.30%	48.90%
Comparable Ratings, AA Rating [Member]
Schedule Of Available For Sale Securities [Line Items]
Fair Value	$ 92,411	$ 129,573
Percentage of Total Fair Value	12.20%	20.00%
Comparable Ratings, A Rating [Member]
Schedule Of Available For Sale Securities [Line Items]
Fair Value	$ 216,074	$ 146,749
Percentage of Total Fair Value	28.40%	22.60%
Comparable Ratings, BBB Rating [Member]
Schedule Of Available For Sale Securities [Line Items]
Fair Value	$ 103,427	$ 51,020
Percentage of Total Fair Value	13.60%	7.80%
Comparable Ratings, BB+ and Below Rating [Member]
Schedule Of Available For Sale Securities [Line Items]
Fair Value	$ 117	$ 1,569
Percentage of Total Fair Value	0.00%	0.20%
Comparable Ratings, No Rating Available [Member]
Schedule Of Available For Sale Securities [Line Items]
Fair Value	$ 3,578	$ 3,110
Percentage of Total Fair Value	0.50%	0.50%

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, 2018	Dec. 31, 2017
Schedule Of Available For Sale Securities [Line Items]
Cost or Amortized Cost	$ 773,493
Available-for-sale debt securities	760,408	$ 639,334
Mortgage-backed securities [Member] | Agency [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost or Amortized Cost	152,068	118,014
Available-for-sale debt securities	148,472	116,014
Mortgage-backed securities [Member] | Non Agency [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost or Amortized Cost	44,509	17,676
Available-for-sale debt securities	44,005	17,488
Asset-backed securities [Member] | Auto Loan Receivables [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost or Amortized Cost	28,983	35,105
Available-for-sale debt securities	28,649	34,962
Asset-backed securities [Member] | Credit Card Receivables [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost or Amortized Cost	23,836	38,844
Available-for-sale debt securities	23,665	38,719
Asset-backed securities [Member] | Other Receivables [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost or Amortized Cost	25,732	12,317
Available-for-sale debt securities	24,437	12,269
Mortgage-Backed and Asset-Backed Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost or Amortized Cost	275,128	221,956
Available-for-sale debt securities	$ 269,228	$ 219,452

Investments - Summarized Fair V

Investments - Summarized Fair Value and Gross Unrealized Losses on Available-for-sale Debt Securities (Detail) $ in Thousands	Sep. 30, 2018USD ($)Security	Dec. 31, 2017USD ($)Security
Schedule Of Available For Sale Securities [Line Items]
Less than 12 months, Number of issues | Security	608	306
Less than 12 months, Fair value	$ 476,031	$ 345,882
Less than 12 months, Unrealized losses	$ (6,832)	$ (2,359)
12 months or longer, Number of issues | Security	176	115
12 months or longer, Fair value	$ 201,926	$ 172,524
12 months or longer, Unrealized losses	$ (7,029)	$ (3,601)
U.S. Government Obligations and Agencies [Member] | Debt Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Less than 12 months, Number of issues | Security	5	7
Less than 12 months, Fair value	$ 15,734	$ 35,464
Less than 12 months, Unrealized losses	$ (313)	$ (301)
12 months or longer, Number of issues | Security	11	9
12 months or longer, Fair value	$ 40,389	$ 24,140
12 months or longer, Unrealized losses	$ (1,146)	$ (576)
Corporate Bonds [Member] | Debt Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Less than 12 months, Number of issues | Security	413	159
Less than 12 months, Fair value	$ 316,750	$ 142,208
Less than 12 months, Unrealized losses	$ (4,599)	$ (792)
12 months or longer, Number of issues | Security	66	39
12 months or longer, Fair value	$ 51,245	$ 29,796
12 months or longer, Unrealized losses	$ (1,566)	$ (516)
Mortgage-Backed and Asset-Backed Securities [Member] | Debt Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Less than 12 months, Number of issues | Security	86	83
Less than 12 months, Fair value	$ 135,530	$ 137,481
Less than 12 months, Unrealized losses	$ (1,643)	$ (955)
12 months or longer, Number of issues | Security	98	37
12 months or longer, Fair value	$ 109,884	$ 70,218
12 months or longer, Unrealized losses	$ (4,280)	$ (1,568)
Municipal Bonds [Member] | Debt Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Less than 12 months, Number of issues | Security	6	36
Less than 12 months, Fair value	$ 3,278	$ 28,265
Less than 12 months, Unrealized losses	$ (123)	$ (246)
12 months or longer, Number of issues | Security		30
12 months or longer, Fair value		$ 48,370
12 months or longer, Unrealized losses		$ (941)
Redeemable Preferred Stock [Member] | Debt Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Less than 12 months, Number of issues | Security	98	21
Less than 12 months, Fair value	$ 4,739	$ 2,464
Less than 12 months, Unrealized losses	$ (154)	$ (65)
12 months or longer, Number of issues | Security	1
12 months or longer, Fair value	$ 408
12 months or longer, Unrealized losses	$ (37)

Investments - Amortized Cost an

Investments - Amortized Cost and Fair Value of Investments With Contractual Maturities (Detail) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Schedule Of Available For Sale Securities [Line Items]
Fixed Maturities Securities Available for Sale, Due in one year or less, Amortized cost	$ 65,340
Fixed Maturities Securities Available for Sale, Due after one year through five years, Amortized cost	246,639
Fixed Maturities Securities Available for Sale, Due after five years through ten years, Amortized cost	158,771
Fixed Maturities Securities Available for Sale, Due after ten years, Amortized cost	15,693
Fixed Maturities Securities Available for Sale, Perpetual Maturity, Amortized Cost	11,922
Debt Securities, Cost or Amortized Cost	773,493
Fixed Maturities Securities Available for Sale, Due in one year or less, Fair Value	65,054
Fixed Maturities Securities Available for Sale, Due after one year through five years, Fair Value	242,313
Fixed Maturities Securities Available for Sale, Due after five years through ten years, Fair Value	156,385
Fixed Maturities Securities Available for Sale, Due after ten years, Fair Value	15,491
Fixed Maturities Securities Available for Sale, Perpetual Maturity, Fair Value	11,937
Fixed Maturities Securities Available for Sale, Fair Value, Total	760,408	$ 649,334
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	275,128
Fixed Maturities Securities Available for Sale, Mortgage-backed Securities, Fair Value	$ 269,228

Investments - Summary of Availa

Investments - Summary of Available-for-Sale Debt Securities and Equity Securities (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Schedule Of Available For Sale Securities [Line Items]
Proceeds from sales and maturities (fair value)			$ 8,285	$ 75,027
Available-for-Sale Debt Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Proceeds from sales and maturities (fair value)	$ 32,287	$ 49,762	225,989	100,413
Gross realized gains on sale of securities	1	302	318	330
Gross realized losses on sale of securities	(11)	(19)	(3,125)	(59)
Equity Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Proceeds from sales and maturities (fair value)	4,158	18,056	8,285	75,027
Gross realized gains on sale of securities	$ 413	547	$ 714	2,332
Gross realized losses on sale of securities		$ (27)		$ (153)

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, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Net Investment Income [Line Items]
Total investment income	$ 7,423	$ 3,644	$ 19,316	$ 10,634
Less: Investment expenses	(781)	(559)	(2,103)	(1,622)
Net investment (expense) income	6,642	3,085	17,213	9,012
Available-for-Sale Debt Securities [Member]
Net Investment Income [Line Items]
Investment income	4,595	2,977	12,390	8,893
Equity Securities [Member]
Net Investment Income [Line Items]
Investment income	722	348	2,016	1,068
Available-for-sale Short-term Investments [Member]
Net Investment Income [Line Items]
Investment income			145	22
Other [Member]
Net Investment Income [Line Items]
Investment income	$ 2,106	$ 319	$ 4,765	$ 651

Investments - Summary of Detail

Investments - Summary of Details on Realized and Unrealized Gains and Losses Related to Equity Securities (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Investments Equity Securities [Abstract]
Net gains and (losses) recognized during the period on equity securities	$ (2,060)	$ 520	$ (8,389)	$ 2,179
Less: Net (gains) and losses recognized during the period on equity securities sold during the period	(413)	$ (520)	(714)	$ (2,179)
Unrealized gains and (losses) recognized during the reporting period on equity securities still held at the reporting period	$ (2,473)		$ (9,103)

Investments - Schedule of Real

Investments - Schedule of Real Estate Investment (Detail) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Real Estate [Line Items]
Investment real estate, net	$ 23,720	$ 18,474
Income Producing [Member]
Real Estate [Line Items]
Investment real estate	14,619	6,918
Less: Accumulated depreciation	(767)	(460)
Investment real estate, net	13,852	6,458
Non-Income Producing [Member]
Real Estate [Line Items]
Properties under development	$ 9,868	$ 12,016

Investments - Schedule of Rea_2

Investments - Schedule of Real Estate Investment (Parenthetical) (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)
Real Estate Investments [Abstract]
Amount tranferred from properties under development to investment real estate	$ 7.4

Investments - Schedule of Depre

Investments - Schedule of Depreciation Expense Related to Investment Real Estate (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Real Estate Investment [Member]
Real Estate [Line Items]
Depreciation expense on investment real estate	$ 103	$ 45	$ 307	$ 134

Reinsurance - Additional Inform

Reinsurance - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Effects of Reinsurance [Line Items]
Reinsurance unsecured amounts due from reinsurers	$ 0	$ 180,172,000
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 Insurance Entities' Reinsurers Whose Aggregate Balance Exceeded 3% of Stockholders' Equity (Detail) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Ceded Credit Risk [Line Items]
Reinsurance unsecured amounts due from reinsurers total	$ 0	$ 180,172,000
Allianz Risk Transfer [Member] | AM Best Company A+ [Member] | Standard and Poor's AA [Member] | Moody's Investors Service Aa3 [Member]
Ceded Credit Risk [Line Items]
Reinsurance unsecured amounts due from reinsurers total		105,573,000
Florida Hurricane Catastrophe Fund [Member]
Ceded Credit Risk [Line Items]
Reinsurance unsecured amounts due from reinsurers total		52,054,000
Renaissance Reinsurance Ltd [Member] | AM Best Company A+ [Member] | Standard and Poor's A+ [Member] | Moody's Investors Service A1 [Member]
Ceded Credit Risk [Line Items]
Reinsurance unsecured amounts due from reinsurers total		$ 22,545,000

Reinsurance - Insurance Entitie

Reinsurance - Insurance Entities' Reinsurance Arrangements (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Reinsurance Disclosures [Abstract]
Direct premiums written	$ 309,176	$ 274,744	$ 921,941	$ 816,350
Ceded premiums written	(17,256)	(7,303)	(356,507)	(318,827)
Net premiums written	291,920	267,441	565,434	497,523
Direct premiums earned	288,404	254,809	824,692	735,807
Ceded premiums earned	(99,466)	(80,292)	(260,905)	(230,722)
Premiums earned, net	188,938	174,517	563,787	505,085
Direct Losses and Loss Adjustment Expenses	270,158	531,268	593,419	687,707
Ceded Losses and Loss Adjustment Expenses	(184,211)	(414,893)	(341,704)	(420,578)
Net Losses and Loss Adjustment Expenses	$ 85,947	$ 116,375	$ 251,715	$ 267,129

Reinsurance - Prepaid Reinsuran

Reinsurance - Prepaid Reinsurance Premiums and Reinsurance Recoverable and Receivable (Detail) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Reinsurance Disclosures [Abstract]
Prepaid reinsurance premiums	$ 228,408	$ 132,806
Reinsurance recoverable on paid losses and LAE	27,037
Reinsurance recoverable on unpaid losses and LAE	131,566	182,405
Reinsurance receivable, net	961
Reinsurance recoverable and receivable	$ 159,564	$ 182,405

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, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Insurance [Abstract]
DPAC, beginning of period	$ 88,756	$ 73,591	$ 73,059	$ 64,912
Capitalized Costs	44,389	36,999	136,758	110,653
Amortization of DPAC	(42,502)	(34,656)	(119,174)	(99,631)
DPAC, end of period	$ 90,643	$ 75,934	$ 90,643	$ 75,934

Insurance Operations - Addition

Insurance Operations - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2018USD ($)
UPCIC [Member]
Statutory Accounting Practices [Line Items]
Ordinary dividend capacity accordance with Florida Insurance Code	$ 36,200,000
Dividend paid to immediate parent company	0
APPCIC [Member]
Statutory Accounting Practices [Line Items]
Dividend paid to immediate parent company	$ 0
UPCIC and APPCIC [Member]
Statutory Accounting Practices [Line Items]
Minimum capitalization rate	10.00%
Minimum capital required	greater of ten percent of the insurer’s total liabilities but not less than $10.0 million.
UPCIC and APPCIC [Member] | Minimum [Member]
Statutory Accounting Practices [Line Items]
Minimum capitalization amount	$ 10,000,000

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, 2018	Dec. 31, 2017
UPCIC [Member]
Statutory Accounting Practices [Line Items]
Ten percent of total liabilities	$ 88,901	$ 72,633
Statutory capital and surplus	343,302	307,686
APPCIC [Member]
Statutory Accounting Practices [Line Items]
Ten percent of total liabilities	538	572
Statutory capital and surplus	$ 16,045	$ 16,633

Insurance Operations - Summary

Insurance Operations - Summary of Combined Net Income (Loss) for UPCIC and APPCIC (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Insurance [Abstract]
Combined net income (loss)	$ 5,468	$ (9,662)	$ 49,190	$ 33,532

Insurance Operations - Assets H

Insurance Operations - Assets Held by Insurance Regulators (Detail) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
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	$ 3,914	$ 3,910

Liability for Unpaid Losses a_3

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, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Insurance [Abstract]
Balance at beginning of period	$ 151,916	$ 22,645	$ 248,425	$ 58,494
Less: Reinsurance recoverable (net of payable offsets)	(96,733)	(1,393)	(182,405)	(106)
Net balance at beginning of period	55,183	21,252	66,020	58,388
Incurred (recovered) related to current year	85,986	116,262	249,488	265,811
Incurred (recovered) related to prior years	(39)	113	2,227	1,318
Total incurred	85,947	116,375	251,715	267,129
Paid related to Current year	72,034	93,969	140,013	179,000
Paid related to Prior years	38,372	15,912	146,998	118,771
Total paid	110,406	109,881	287,011	297,771
Net balance at end of period	30,724	27,746	30,724	27,746
Plus: Reinsurance recoverable (net of payable offsets)	127,943	412,697	127,943	412,697
Balance at end of period	$ 158,667	$ 440,443	$ 158,667	$ 440,443

Liability for Unpaid Losses a_4

Liability for Unpaid Losses and Loss Adjustment Expenses - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Insurance [Abstract]
Estimated of ultimate losses on storm	$ 754,000		$ 754,000		$ 446,700
Prior year adverse development direct losses			311,700
Net losses after benefit of reinsurance recoveries from prior year adverse development losses	$ (39)	$ 113	$ 2,227	$ 1,318
Loss reserve development on direct basis				6,900
Loss reserve development on net basis				$ 1,300

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Surplus Note [Member]
Debt Instrument [Line Items]
Notes payable	$ 11,765	$ 12,868

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - Surplus Note [Member] $ in Millions	Dec. 31, 2006USD ($)
Debt Instrument [Line Items]
Unsecured term loan agreement	$ 25
Note term	20 years

Stockholders' Equity - Activity

Stockholders' Equity - Activity Relating to Common Shares (Detail) shares in Thousands	9 Months Ended
	Sep. 30, 2018shares
Equity [Abstract]
Issued shares, beginning balance	45,778
Treasury shares, beginning balance	(11,043)
Outstanding shares, beginning balance	34,735
Shares repurchased	(342)
Vesting of performance share units	127
Stock option exercises	1,325
Restricted stock grants	50
Shares acquired through cashless exercise	(962)	[1]
Issued shares, shares cancelled	(962)
Treasury shares, shares cancelled	962
Issued shares, ending balance	46,318
Treasury shares, ending balance	(11,385)
Outstanding shares, ending balance	34,933
[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 ($)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Equity [Line Items]
Treasury shares acquired	342,000
September 2017 Share Repurchase Program [Member]
Equity [Line Items]
Treasury shares acquired	342,749
Shares repurchased during period	$ 11,100,000
Maximum [Member] | September 2017 Share Repurchase Program [Member]
Equity [Line Items]
Amount of shares authorized to repurchase		$ 20,000,000

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Dividends Declared and Paid (Detail) - $ / shares	May 29, 2018	Apr. 12, 2018	Jan. 22, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Dividends Payable [Line Items]
Cash dividend declared per common share				$ 0.16	$ 0.14	$ 0.44	$ 0.42
First Quarter [Member]
Dividends Payable [Line Items]
Dividend Declared Date						Jan. 22, 2018
Shareholders Record Date						Feb. 28, 2018
Dividend Payable Date						Mar. 12, 2018
Cash dividend declared per common share			$ 0.14
Second Quarter [Member]
Dividends Payable [Line Items]
Dividend Declared Date						Apr. 12, 2018
Shareholders Record Date						Apr. 27, 2018
Dividend Payable Date						May 4, 2018
Cash dividend declared per common share		$ 0.14
Third Quarter [Member]
Dividends Payable [Line Items]
Dividend Declared Date						May 29, 2018
Shareholders Record Date						Jul. 2, 2018
Dividend Payable Date						Jul. 16, 2018
Cash dividend declared per common share	$ 0.16

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2018
Income Taxes [Line Items]
Income tax expense (benefit)	$ 13,787,000	$ 6,635,000	$ 40,595,000	$ 41,354,000
Effective tax rate	26.90%	40.00%	24.70%	37.00%
Excess tax expense (benefits) from discrete items	$ 200,000		$ (2,000,000)
Unfavorable effect from income tax accrual adjustment relating to return to provision true ups	$ 900,000	$ 200,000	$ 900,000
Effect of reporting discrete items during the period	0.40%		1.30%
Excess tax benefits from stock-based compensation awards	$ 700,000		$ 3,300,000	$ 800,000
Income tax expense credit				$ 1,200,000
Other miscellaneous items			$ 400,000
Statutory Effective Tax Rate [Member]
Income Taxes [Line Items]
State income tax rate, net of federal benefit			3.70%
U.S. federal statutory rate			21.00%
Internal Revenue Service (IRS) [Member] | Tax Year 2015 [Member]
Income Taxes [Line Items]
Income tax examination, adjustment from settlement with taxing authority	$ 0		$ 0
Forecast [Member]
Income Taxes [Line Items]
Effective tax rate					26.00%

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, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Numerator for EPS:
Net income		$ 37,380	$ 9,964	$ 123,519	$ 70,539
Less: Preferred stock dividends		(3)	(3)	(8)	(8)
Income available to common stockholders		$ 37,377	$ 9,961	$ 123,511	$ 70,531
Denominator for EPS:
Weighted average common shares outstanding		34,861	34,686	34,870	34,927
Plus: Assumed conversion of share-based compensation	[1]	1,033	904	859	965
Assumed conversion of preferred stock		25	25	25	25
Weighted average diluted common shares outstanding		35,919	35,615	35,754	35,917
Basic earnings per common share		$ 1.07	$ 0.29	$ 3.54	$ 2.02
Diluted earnings per common share		$ 1.04	$ 0.28	$ 3.45	$ 1.96
[1]	Represents the dilutive effect of unvested restricted stock, unvested performance share units and unexercised stock options.

Other Comprehensive Income (L_3

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, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Equity [Abstract]
Unrealized holding gains (losses) arising during the period, Pre-tax	$ (989)	$ 1,207	$ (11,511)	$ 9,248
Less: Reclassification adjustment for (gains) losses realized in net income, Pre-tax	10	(803)	2,807	(2,450)
Other comprehensive income (loss), Pre-tax	(979)	404	(8,704)	6,798
Reclassification adjustments to retained earnings, Pre-tax			5,830
Change in accumulated other comprehensive income (loss), Pre-tax	(979)	404	(2,874)	6,798
Unrealized holding gains (losses) arising during the period, Tax	(244)	461	(2,751)	3,535
Less: Reclassification adjustment for (gains) losses realized in net income, Tax	2	(308)	683	(938)
Other comprehensive income (loss), Tax	(242)	153	(2,068)	2,597
Reclassification adjustments to retained earnings, Tax			2,811
Change in accumulated other comprehensive income (loss), Tax	(242)	153	743	2,597
Unrealized holding gains (losses) arising during the period, After-tax	(745)	746	(8,760)	5,713
Less: Reclassification adjustment for (gains) losses realized in net income, After-tax	8	(495)	2,124	(1,512)
Other comprehensive income (loss), After-tax	(737)	251	(6,636)	4,201
Reclassification adjustments to retained earnings, After-tax			3,019
Change in accumulated other comprehensive income (loss), After-tax	$ (737)	$ 251	$ (3,617)	$ 4,201

Other Comprehensive Income (L_4

Other Comprehensive Income (Loss) - Reclassifications Adjustment for Gains (Losses) Out of Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net realized gains (losses) on sale of securities	$ 403	$ 803	$ (2,093)	$ 2,450
Income taxes	(13,787)	(6,635)	(40,595)	(41,354)
NET INCOME	37,380	9,964	123,519	70,539
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Amount Reclassified from Accumulated Other Comprehensive Income (Loss) [Member] | Debt Securities [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net realized gains (losses) on sale of securities	(10)	803	(2,807)	2,450
Income taxes	2	(308)	683	(938)
NET INCOME	$ (8)	$ 495	$ (2,124)	$ 1,512

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Reinsurance Retention Policy [Line Items]
Reinsurance payable, net	$ 261,133,000	$ 110,381,000
Period from June 1, 2019 to May 31, 2020 [Member]
Reinsurance Retention Policy [Line Items]
Reinsurance payable, net	82,300
Period from June 1, 2020 to May 31, 2021 [Member]
Reinsurance Retention Policy [Line Items]
Reinsurance payable, net	$ 33,900

Fair Value Measurements - Asset

Fair Value Measurements - Assets Measured for at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	$ 760,408	$ 639,334
Equity securities	69,108	62,215
Available-for-sale short-term investments		10,000
U.S. Government Obligations and Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	65,998	59,604
Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	409,967	227,504
Mortgage-Backed and Asset-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	269,228	219,452
Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	3,278	120,295
Redeemable Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	11,937	12,479
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	829,516	711,549
Fair Value, Measurements, Recurring [Member] | U.S. Government Obligations and Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	65,998	59,604
Fair Value, Measurements, Recurring [Member] | Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	409,967	227,504
Fair Value, Measurements, Recurring [Member] | Mortgage-Backed and Asset-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	269,228	219,452
Fair Value, Measurements, Recurring [Member] | Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	3,278	120,295
Fair Value, Measurements, Recurring [Member] | Redeemable Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	11,937	12,479
Fair Value, Measurements, Recurring [Member] | Common Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	20,575	18,811
Fair Value, Measurements, Recurring [Member] | Mutual Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	48,533	43,404
Fair Value, Measurements, Recurring [Member] | Available For Sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale short-term investments		10,000
Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	69,108	62,215
Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Common Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	20,575	18,811
Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Mutual Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	48,533	43,404
Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	760,408	649,334
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | U.S. Government Obligations and Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	65,998	59,604
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	409,967	227,504
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage-Backed and Asset-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	269,228	219,452
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	3,278	120,295
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Redeemable Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	$ 11,937	12,479
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Available For Sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale short-term investments		$ 10,000

Fair Value Measurements - Summa

Fair Value Measurements - Summarizes Carrying Value and Estimated Fair Values of Financial Instruments not Carried at Fair Value (Detail) - Surplus Note [Member] - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Carrying Value	$ 11,765	$ 12,868
Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Estimated Fair Value	$ 10,501	$ 11,630

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($)	Oct. 10, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Subsequent Event [Line Items]
Direct Losses and Loss Adjustment Expenses		$ 270,158,000	$ 531,268,000	$ 593,419,000	$ 687,707,000
Losses and loss adjustment expenses		$ 85,947,000	$ 116,375,000	$ 251,715,000	$ 267,129,000
Hurricane Michael [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Losses and loss adjustment expenses	$ 35,000,000
Hurricane Michael [Member] | Minimum [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Direct Losses and Loss Adjustment Expenses	300,000,000
Hurricane Michael [Member] | Maximum [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Direct Losses and Loss Adjustment Expenses	$ 350,000,000