Protective Insurance (PTVCA) 10-Q 9 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 01, 2017
Entity Information [Line Items]
Entity Registrant Name	BALDWIN & LYONS INC
Entity Central Index Key	9,346
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Class A (voting) [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		2,623,109
Class B (nonvoting) [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		12,498,758

Unaudited Consolidated Balance

Unaudited Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Investments:
Fixed maturities	$ 469,015	$ 491,904
Equity securities	187,917	119,945
Limited partnerships	67,087	76,469
Short-term and other	1,500	1,500
Total Investments	725,519	689,818
Cash and cash equivalents	81,080	62,976
Accounts receivable	70,339	64,984
Reinsurance recoverable	299,380	255,024
Other assets	69,979	78,732
Current federal income taxes recoverable	9,995	2,603
Total Assets	1,256,292	1,154,137
Liabilities and shareholders' equity
Reserves for losses and loss expenses	627,725	576,330
Reserves for unearned premiums	31,660	21,694
Short-term borrowings	20,000	20,000
Accounts payable and other liabilities	162,000	120,356
Deferred federal income taxes	14,136	11,412
Total Liabilities	855,521	749,792
Shareholders' equity:
Additional paid-in capital	55,205	54,286
Unrealized net gains on investments	42,866	34,051
Foreign exchange adjustment	(378)	(831)
Retained earnings	302,433	316,195
Shareholders' equity	400,771	404,345
Total liabilities and shareholders' equity	1,256,292	1,154,137
Class A Voting [Member]
Shareholders' equity:
Common stock	112	112
Class B Non-voting [Member]
Shareholders' equity:
Common stock	$ 533	$ 532

Unaudited Consolidated Balance3

Unaudited Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
Class A Voting [Member]
Shareholders' equity:
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	3,000,000	3,000,000
Common stock, shares outstanding (in shares)	2,623,109	2,623,109
Class B Non-voting [Member]
Shareholders' equity:
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares outstanding (in shares)	12,498,758	12,460,900

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues
Net premiums earned	$ 67,996	$ 68,726	$ 141,971	$ 135,635
Net investment income	4,716	3,549	8,408	6,988
Commissions and other income	1,400	1,463	2,380	2,828
Net realized gains on investments, excluding impairment losses	3,327	1,375	9,621	12,447
Total other-than-temporary impairment losses on investments	(31)	(1,095)	(31)	(3,155)
Net realized gains on investments	3,296	280	9,590	9,292
Total revenues	77,408	74,018	162,349	154,743
Expenses
Losses and loss expenses incurred	71,754	42,666	120,353	81,289
Other operating expenses	26,834	22,437	52,998	43,101
Total expenses	98,588	65,103	173,351	124,390
Income (loss) before federal income taxes (benefits)	(21,180)	8,915	(11,002)	30,353
Federal income taxes (benefits)	(8,837)	2,946	(5,414)	10,272
Net income (loss)	$ (12,343)	$ 5,969	$ (5,588)	$ 20,081
Per share data:
Basic and diluted earnings (loss) (in dollars per share)	$ (0.82)	$ 0.40	$ (0.37)	$ 1.33
Dividends paid to shareholders (in dollars per share)	$ 0.27	$ 0.26	$ 0.54	$ 0.52

Unaudited Consolidated Stateme5

Unaudited Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Unaudited Consolidated Statements of Comprehensive Income (Loss) [Abstract]
Net income (loss)	$ (12,343)	$ 5,969	$ (5,588)	$ 20,081
Unrealized net gains on securities:
Unrealized net gains arising during the period	5,147	3,348	11,137	2,572
Less: reclassification adjustment for net gains (losses) included in net income (loss)	1,667	(452)	2,322	6,822
Change in unrealized gains (losses) on investments	3,480	3,800	8,815	(4,250)
Foreign currency translation adjustments	388	124	453	543
Other comprehensive income (loss)	3,868	3,924	9,268	(3,707)
Comprehensive income (loss)	$ (8,475)	$ 9,893	$ 3,680	$ 16,374

Unaudited Consolidated Stateme6

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Unaudited Consolidated Statements of Cash Flows [Abstract]
Net cash provided by operating activities	$ 23,164	$ 22,741
Investing activities:
Purchases of available-for-sale investments	(231,601)	(215,228)
Proceeds from sales or maturities of available-for-sale investments	221,818	188,245
Net sales of short-term investments	0	720
Other investing activities	12,444	(1,112)
Net cash provided by (used in) investing activities	2,661	(27,375)
Financing activities:
Dividends paid to shareholders	(8,174)	(7,902)
Net cash used in financing activities	(8,174)	(7,902)
Effect of Foreign exchange rates on cash and cash equivalents	453	543
Increase (decrease) in cash and cash equivalents	18,104	(11,993)
Cash and cash equivalents at beginning of period	62,976	73,538
Cash and cash equivalents at end of period	$ 81,080	$ 61,545

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	(1) Summary of Significant Accounting Policies Description of Business : The Company determined that its business constituted one reportable property and casualty insurance segment as of January 1, 2017. During 2016 and prior years, the Company had two reportable segments – property and casualty insurance and reinsurance. The Company moved to a single reportable segment based on how its operating results are regularly reviewed by the Company's chief operating decision maker when making decisions about how resources are to be allocated to the segment and assessing its performance. The prior period segment information throughout this Quarterly Report on Form 10-Q was updated to conform to the current year presentation. Basis of Presentation: Investments Short-term and other investments are carried at cost, which approximates their fair values. Realized gains and losses on disposals of investments are recorded on the trade date and are determined by specific identification of cost of investments sold and are included in income. All fixed maturity and equity securities are considered to be available-for-sale; the related unrealized net gains or losses (net of applicable tax effect) are reflected directly in shareholders' equity. Included within available for sale fixed maturity securities are convertible debt securities. A portion of the changes in fair values of convertible debt securities are reflected as a component of net realized gains (losses) on investments. In accordance with the Financial Accounting Standards Board's ("FASB") other-than-temporary impairment guidance, if a fixed maturity security is in an unrealized loss position and the Company has the intent to sell the fixed maturity security, or it is more likely than not that the Company will have to sell the fixed maturity security before recovery of its amortized cost basis, the decline in value is deemed to be other-than-temporary and is recorded to net realized losses on investments in the condensed consolidated statements of operations. For impaired fixed maturity securities that the Company does not intend to sell or in cases where it is more likely than not that the Company will not have to sell such securities, but the Company expects that it will not fully recover the amortized cost basis, the credit component of the other-than-temporary impairment is recognized in net realized losses on investments in the condensed consolidated statements of operations and the non-credit component of the other-than-temporary impairment is recognized directly in shareholders' equity (accumulated other comprehensive income). The credit component of an other-than-temporary impairment is determined by comparing the net present value of projected future cash flows with the amortized cost basis of the fixed maturity security. The net present value is calculated by discounting the Company's best estimate of projected future cash flows at the appropriate effective interest rate. The unrealized net gains or losses (net of applicable tax effect) related to equity securities are reflected directly in shareholders' equity, unless a decline in value is determined to be other-than-temporary, in which case the loss is charged to income. In determining if and when a decline in market value below cost is other-than-temporary, an objective analysis is made of each individual security where current market value is less than cost. For any equity security where the unrealized loss exceeds a set percentage of original or adjusted cost, and where that decline has existed for a period of at least one year, the decline is treated as an other-than-temporary impairment. Additionally, the Company takes into account any known subjective information in evaluating for impairment, separate from consideration of the Company's quantitative criteria defined above, as well as the Company's intent and ability to retain the equity security for a period of time sufficient to allow for such recovery in fair value. Recent Accounting Pronouncements: In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), as amended by subsequently issued ASUs, to clarify the principles for recognizing revenue. While insurance contracts are not within the scope of this updated guidance, the Company's service and fee income could be subject to this updated guidance. The updated guidance requires an entity to recognize revenue as performance obligations are met, in order to reflect the transfer of promised goods or services to customers in an amount that reflects the consideration the entity is entitled to receive for those goods or services. The following steps are applied in the updated guidance: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, the entity satisfies a performance obligation. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, which deferred the effective date of ASU 2014-09 to the quarter ending March 31, 2018. The Company has performed an initial evaluation of the impact this guidance will have on its results of operations, financial position or liquidity. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), or ASU 2016-02. Upon the effective date, ASU 2016-02 will supersede the current lease guidance in ASC Topic 840, Leases. Under the new guidance, lessees will be required to recognize for all leases, with the exception of short-term leases, a lease liability, which is a lessee's obligation to make lease payments arising from a lease, measured on a discounted basis. Concurrently, lessees will be required to recognize a right-of-use asset, which is an asset that represents the lessee's right to use, or control the use of, a specified asset for the lease term. ASU 2016-02 is effective for interim and annual reporting periods beginning after December 15, 2018, with early adoption permitted. The guidance is required to be applied using a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative periods presented in the financial statements. The Company is currently evaluating the effects that adoption of ASU 2016-02 will have on its consolidated financial statements, results of operations and cash flows. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, or ASU 2016-13. This update introduces a current expected credit loss model for measuring expected credit losses for certain types of financial instruments held at the reporting date based on historical experience, current conditions and reasonable supportable forecasts. ASU 2016-13 replaces the current incurred loss model for measuring expected credit losses, requires expected losses on available-for-sale debt securities to be recognized through an allowance for credit losses rather than as reductions in the amortized cost of the securities, and provides for additional disclosure requirements. ASU 2016-13 is effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted for interim and annual reporting periods beginning after December 15, 2018. The Company is currently evaluating the effects that adoption of ASU 2016-13 will have on its consolidated financial statements, results of operations and cash flows. In January 2017, the FASB issued ASU No. 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, or ASU 2017-04. This amendment removes Step 2 of the goodwill impairment test under current guidance, which requires a hypothetical purchase price allocation. The new guidance requires an impairment charge to be recognized for the amount by which the carrying amount exceeds the reporting unit's fair value. ASU 2017-04 is effective for interim and annual reporting periods beginning after December 15, 2020, with early adoption permitted. The Company does not expect the guidance to have a material impact on its results of operations, financial position or liquidity.

Investments

Investments	6 Months Ended
	Jun. 30, 2017
Investments [Abstract]
Investments	(2) Investments: The following is a summary of available-for-sale securities at June 30, 2017 and December 31, 2016: Net Cost or Gross Gross Unrealized Fair Amortized Unrealized Unrealized Gains Value Cost Gains Losses (Losses) June 30, 2017 Fixed maturities Agency collateralized mortgage obligations $ 7,927 $ 7,196 $ 732 $ (1 ) $ 731 Agency mortgage-backed securities 15,852 15,834 73 (55 ) 18 Asset-backed securities 41,543 40,354 1,263 (74 ) 1,189 Bank loans 21,557 21,496 135 (74 ) 61 Certificates of deposit 3,127 3,125 2 - 2 Collateralized mortgage obligations 6,590 6,203 426 (39 ) 387 Corporate securities 151,672 150,973 1,841 (1,142 ) 699 Mortgage-backed securities 23,962 23,305 1,046 (389 ) 657 Municipal obligations 112,718 112,280 745 (307 ) 438 Non-U.S. government obligations 27,096 27,700 406 (1,010 ) (604 ) U.S. government obligations 56,971 57,247 32 (308 ) (276 ) Total fixed maturities 469,015 465,713 6,701 (3,399 ) 3,302 Equity securities: Consumer 43,293 21,242 22,374 (323 ) 22,051 Energy 7,630 5,470 2,356 (196 ) 2,160 Financial 39,549 28,156 11,581 (188 ) 11,393 Industrial 28,093 9,591 18,593 (91 ) 18,502 Technology 9,507 4,117 5,390 - 5,390 Mutual fund 53,088 52,288 1,323 (523 ) 800 Other 6,757 4,408 2,526 (177 ) 2,349 Total equity securities 187,917 125,272 64,143 (1,498 ) 62,645 Total $ 656,932 $ 590,985 $ 70,844 $ (4,897 ) 65,947 Applicable federal income taxes (23,081 ) Net unrealized gains - net of tax $ 42,866 Net Cost or Gross Gross Unrealized Fair Amortized Unrealized Unrealized Gains Value Cost Gains Losses (Losses) December 31, 2016 Fixed maturities Agency collateralized mortgage obligations $ 6,171 $ 6,000 $ 171 $ - $ 171 Agency mortgage-backed securities 4,770 4,751 57 (38 ) 19 Asset-backed securities 45,183 45,207 458 (482 ) (24 ) Bank loans 10,349 10,222 149 (22 ) 127 Certificates of deposit 3,117 3,126 - (9 ) (9 ) Collateralized mortgage obligations 9,104 9,096 290 (282 ) 8 Corporate securities 142,683 143,356 1,643 (2,316 ) (673 ) Mortgage-backed securities 24,571 23,904 1,132 (465 ) 667 Municipal obligations 129,335 130,204 391 (1,260 ) (869 ) Non-U.S. government obligations 24,681 26,461 230 (2,010 ) (1,780 ) U.S. government obligations 91,940 92,234 74 (368 ) (294 ) Total fixed maturities 491,904 494,561 4,595 (7,252 ) (2,657 ) Equity securities: Consumer 32,576 15,231 17,656 (311 ) 17,345 Energy 12,842 5,641 7,203 (2 ) 7,201 Financial 31,186 22,417 8,998 (229 ) 8,769 Industrial 21,145 6,239 15,098 (192 ) 14,906 Technology 8,858 4,117 4,769 (28 ) 4,741 Mutual fund 6,995 6,930 121 (56 ) 65 Other 6,343 4,327 2,181 (165 ) 2,016 Total equity securities 119,945 64,902 56,026 (983 ) 55,043 Total $ 611,849 $ 559,463 $ 60,621 $ (8,235 ) 52,386 Applicable federal income taxes (18,335 ) Net unrealized gains - net of tax $ 34,051 The following table summarizes, for fixed maturity and equity security investments in an unrealized loss position at June 30, 2017 and December 31, 2016, respectively, the aggregate fair value and gross unrealized loss categorized by the duration those securities have been continuously in an unrealized loss position. June 30, 2017 December 31, 2016 Number of Securities Fair Value Gross Unrealized Loss Number of Securities Fair Value Gross Unrealized Loss Fixed maturity securities: 12 months or less 330 $ 260,883 $ (2,007 ) 397 $ 291,048 $ (4,380 ) Greater than 12 months 31 8,398 (1,392 ) 54 32,054 (2,872 ) Total fixed maturities 361 269,281 (3,399 ) 451 323,102 (7,252 ) Equity securities: 12 months or less 48 50,707 (1,498 ) 35 20,698 (983 ) Greater than 12 months - - - - - - Total equity securities 48 50,707 (1,498 ) 35 20,698 (983 ) Total fixed maturity and equity securities 409 $ 319,988 $ (4,897 ) 486 $ 343,800 $ (8,235 ) The fair value and the cost or amortized costs of fixed maturity investments at June 30, 2017, by contractual maturity, are shown below. Actual maturities may ultimately differ from contractual maturities because borrowers have, in some cases, the right to call or prepay obligations with or without call or prepayment penalties. Pre-refunded municipal bonds are classified based on their pre-refunded call dates. Fair Value Cost or Amortized Cost One year or less $ 45,007 $ 45,001 Excess of one year to five years 268,334 269,180 Excess of five years to ten years 55,658 54,616 Excess of ten years 4,272 4,154 Contractual maturities 373,271 372,951 Asset-backed securities 95,744 92,762 Total $ 469,015 $ 465,713 Following is a summary of the components of net realized gains on investments for the periods presented in the accompanying condensed consolidated statements of operations. Three Months Ended Six Months Ended June 30 June 30 2017 2016 2017 2016 Fixed maturities: Gross gains $ 4,804 $ 565 $ 5,692 $ 1,842 Gross losses (4,776 ) (1,140 ) (6,149 ) (4,036 ) Net realized gains (losses) 28 (575 ) (457 ) (2,194 ) Equity securities: Gross gains 2,892 1,126 4,498 16,636 Gross losses (355 ) (1,248 ) (468 ) (3,948 ) Net realized gains (losses) 2,537 (122 ) 4,030 12,688 Limited partnerships - net gain (loss) 731 977 6,017 (1,202 ) Total net gains $ 3,296 $ 280 $ 9,590 $ 9,292 Net realized gains activity for investments, as shown in the previous table, are further detailed as follows: Three Months Ended Six Months Ended June 30 June 30 2017 2016 2017 2016 Realized net gains (losses) on the disposal of securities $ 2,243 $ (1,142 ) $ 2,642 $ 7,167 Mark-to-market adjustment 249 (133 ) (35 ) (434 ) Equity in gains (losses) of limited partnership investments - realized and unrealized 731 977 6,017 (1,202 ) Impairment: Write-downs based upon objective criteria (31 ) (1,095 ) (31 ) (3,155 ) Recovery of prior write-downs upon sale or disposal 104 1,673 997 6,916 Total net gains $ 3,296 $ 280 $ 9,590 $ 9,292 The mark-to-market adjustments in the table above represent the changes in fair value of options embedded in convertible debt securities held by the Company. Shareholders' equity at June 30, 2017 included approximately $28,669, net of federal income taxes, of reported earnings which remain undistributed by limited partnerships. At June 30, 2017, limited partnership investments included approximately $39,479 invested in two partnerships which are managed by organizations in which certain of the Company's directors are officers, directors, general partners or owners. Each of these investments contains profit sharing agreements, pursuant to which a portion of the gains will be paid to the affiliated organizations. The Company's limited partnerships include one investment which primarily invests in public and private equity markets in India. The limited partnership investment's value as of June 30, 2017 and 2016 was $26,673 and $28,074, respectively. At June 30, 2017, the Company's estimated ownership interest in this limited partnership investment was approximately 5%. The Company's share of earnings (losses) from this limited partnership investment was $4,520 and ($196) for the six months ended June 30, 2017 and 2016, respectively. Six Months Ended June 30 2017 2016 Total assets $ 497,901 $ 464,045 Total partners' capital 497,901 458,178 Net increase (decrease) in partners' capital resulting from operations 80,173 (5,764 ) At June 30, 2017, the Company's invested assets, excluding limited partnership investments, included approximately $23,485 in portfolios managed by organizations in which certain of the Company's directors are officers, directors, general partners or owners.

Reinsurance

Reinsurance	6 Months Ended
	Jun. 30, 2017
Reinsurance [Abstract]
Reinsurance	(3) Reinsurance: The following table summarizes the Company's transactions with reinsurers for the 2017 and 2016 comparative periods. 2017 2016 Three months ended June 30: Premiums ceded to reinsurers $ 45,791 $ 32,073 Losses and loss expenses ceded to reinsurers 52,396 19,520 Commissions from reinsurers 6,387 9,914 Six months ended June 30: Premiums ceded to reinsurers $ 77,099 $ 63,336 Losses and loss expenses ceded to reinsurers 71,870 48,845 Commissions from reinsurers 13,795 20,688

Loss and Loss Expense Reserves

Loss and Loss Expense Reserves	6 Months Ended
	Jun. 30, 2017
Loss and Loss Expense Reserves [Abstract]
Loss and Loss Expense Reserves	(4) Loss and Loss Expense Reserves: Activity in the reserves for losses and loss expenses for the six months ended June 30 is summarized as follows. All amounts are shown net of reinsurance, unless otherwise indicated. 2017 2016 Reserves at the beginning of the year $ 324,767 $ 301,753 Provision for losses and loss expenses: Claims occurring during the current year 103,666 83,052 Claims occurring during prior years 16,687 (1,763 ) Total incurred 120,353 81,289 Loss and loss expense payments: Claims occurring during the current year 23,548 18,973 Claims occurring during prior years 84,628 56,372 Total paid 108,176 75,345 Reserves at the end of the period 336,944 307,697 Reinsurance recoverable on unpaid losses at the end of the period 290,781 233,651 Reserves, gross of reinsurance recoverable, at the end of the period $ 627,725 $ 541,348 The table above shows that a deficiency of $16,687 developed during the first six months of 2017 in the settlement of claims occurring on or before December 31, 2016. This development is composed of individual claim savings and deficiencies which, in the aggregate, have resulted from the settlement of claims at amounts higher or lower than previously reserved and from changes in estimates of losses incurred but not reported as part of the normal reserving process.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2017
Segment Information [Abstract]
Segment Information	(5) Segment Information The Company has one reportable business segment in its operations: Property and Casualty Insurance. The property and casualty insurance segment provides multiple line insurance coverage primarily to fleet transportation companies as well as to independent contractors who contract with fleet transportation companies. In addition, the Company provides workers' compensation coverage for a variety of classes outside the transportation industry. The following table summarizes segment revenues for the three and six months ended June 30, 2017 and 2016: Three Months Ended Six Months Ended June 30 June 30 2017 2016 2017 2016 Revenues: Net premiums earned $ 67,996 $ 68,726 $ 141,971 $ 135,635 Net investment income 4,716 3,549 8,408 6,988 Net realized gains on investments 3,296 280 9,590 9,292 Other 1,400 1,463 2,380 2,828 Total revenues $ 77,408 $ 74,018 $ 162,349 $ 154,743

Debt

Debt	6 Months Ended
	Jun. 30, 2017
Debt [Abstract]
Debt	(6) Debt The Company maintains a revolving line of credit with a $40,000 limit and an expiration date of September 23, 2018. Interest on this line of credit is referenced to LIBOR and can be fixed for periods of up to one year at the Company's option. Outstanding drawings on this line of credit were $20,000 as of both June 30, 2017 and December 31, 2016. At June 30, 2017, the effective interest rate was 2.32%. The Company has $20,000 remaining and unused under the line of credit at June 30, 2017. The current outstanding borrowings were used for general corporate purposes.

Taxes

Taxes	6 Months Ended
	Jun. 30, 2017
Taxes [Abstract]
Taxes	(7) Taxes: As of June 30, 2017, the Company's calendar years 2016, 2015 and 2014 remain subject to examination by the Internal Revenue Service. The effective federal income tax rate differs from the normal statutory rate primarily as a result of tax-exempt investment income.

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2017
Fair Value [Abstract]
Fair Value	(8) Fair Value: Assets and liabilities recorded at fair value in the condensed consolidated balance sheets are categorized based upon the level of judgment associated with the inputs used to measure their fair value. The following tables summarize fair value measurements by level for assets measured at fair value on a recurring basis: As of June 30, 2017: Description Total Level 1 Level 2 Level 3 Fixed maturities: Agency collateralized mortgage obligations $ 7,927 $ - $ 7,927 $ - Agency mortgage-backed securities 15,852 - 15,852 - Asset-backed securities 41,543 - 37,748 3,795 Bank loans 21,557 - - 21,557 Certificates of deposit 3,127 3,127 - - Collateralized mortgage obligations 6,590 - 5,593 997 Corporate securities 146,521 - 145,695 826 Options embedded in convertible securities 5,153 - 5,153 - Mortgage-backed securities 23,962 - 22,141 1,821 Municipal obligations 112,717 - 112,503 214 Non-U.S. government obligations 27,095 3,261 23,834 - U.S. government obligations 56,971 - 56,971 - Total fixed maturities 469,015 6,388 433,417 29,210 Equity securities: Consumer 43,293 43,293 - - Energy 7,630 7,630 - - Financial 43,169 43,169 - - Industrial 29,069 28,093 976 - Technology 9,507 9,507 - - Mutual fund 48,492 48,492 - - Other 6,757 6,757 - - Total equity securities 187,917 186,941 976 - Short term 1,500 1,500 - - Cash equivalents 77,298 - 77,298 - Total $ 735,730 $ 194,829 $ 511,691 $ 29,210 As of December 31, 2016: Description Total Level 1 Level 2 Level 3 Fixed maturities: Agency collateralized mortgage obligations $ 6,171 $ - $ 6,171 $ - Agency mortgage-backed securities 4,770 - 4,770 - Asset-backed securities 45,183 - 37,919 7,264 Bank loans 10,349 - - 10,349 Certificates of deposit 3,117 3,117 - - Collateralized mortgage obligations 9,104 - 6,409 2,695 Corporate securities 137,932 - 135,794 2,138 Options embedded in convertible securities 4,751 - 4,751 - Mortgage-backed securities 24,571 - 22,206 2,365 Municipal obligations 129,335 - 129,190 145 Non-U.S. government obligations 24,681 - 24,419 262 U.S. government obligations 91,940 - 91,940 - Total fixed maturities 491,904 3,117 463,569 25,218 Equity securities: Consumer 32,576 32,576 - - Energy 12,842 12,842 - - Financial 31,186 30,943 243 - Industrial 21,145 20,262 883 - Technology 8,858 8,858 - - Mutual fund 6,995 - 6,995 - Other 6,343 6,343 - - Total equity securities 119,945 111,824 8,121 - Short term 1,500 1,500 - - Cash equivalents 59,683 - 59,683 - Total $ 673,032 $ 116,441 $ 531,373 $ 25,218 Level inputs, as defined by the FASB guidance, are as follows: Level Input: Input Definition: Level 1 Inputs are unadjusted, quoted prices for identical assets or liabilities in active markets at the measurement date. Level 2 Inputs other than quoted prices included in Level 1 that are observable for the asset or liability through corroboration with market data at the measurement date. Level 3 Unobservable inputs that reflect management's best estimate of what market participants would use in pricing the asset or liability at the measurement date. The Company's Level 3 assets consist of a portfolio of asset and mortgage-backed securities, bank loans, collateralized mortgage obligations, corporate securities and a limited amount of municipal and foreign government obligations. The assets are valued using various unobservable inputs including extrapolated data, proprietary models and indicative quotes. Transfers into Level 3 relate to securities previously classified as Level 2. A reconciliation of the beginning and ending balances of assets measured at fair value on a recurring basis using Level 3 inputs is as follows for the six months ended June 30, 2017 and for the year ended December 31, 2016: 2017 2016 Beginning of period balance $ 25,218 $ 16,793 Total gains or losses (realized or unrealized) included in income 443 1,846 Purchases 16,857 5,540 Settlements (12,847 ) (8,791 ) Transfers into Level 3 148 10,202 Transfers out of Level 3 (609 ) (372 ) End of period balance $ 29,210 $ 25,218 Quoted market prices are obtained whenever possible. Where quoted market prices are not available, fair values are estimated using present value or other valuation techniques. These techniques are significantly affected by the Company's assumptions, including discount rates and estimates of future cash flows. Potential taxes and other transaction costs have not been considered in estimating fair values. Transfers between levels, if any, are recorded as of the beginning of the reporting period. There were no significant transfers of assets between Level 1 and Level 2 during the six months ended June 30, 2017 and 2016. In addition to the preceding disclosures on assets recorded at fair value in the condensed consolidated balance sheets, FASB guidance also requires the disclosure of fair values for certain other financial instruments for which it is practicable to estimate fair value, whether or not such values are recognized in the condensed consolidated balance sheets. Non-financial instruments such as real estate, property and equipment, other assets, deferred income taxes and intangible assets, and certain financial instruments such as policy reserve liabilities are excluded from the fair value disclosures. Therefore, the fair value amounts cannot be aggregated to determine the underlying economic value of the Company. The following methods, assumptions and inputs were used to estimate the fair value of each class of financial instrument: Limited partnerships: The Company accounts for investments in limited partnerships using the equity method of accounting, which requires an investor in a limited partnership to carry the investment at its proportionate share of the limited partnership's equity. The underlying assets of the Company's investments in limited partnerships are carried primarily at fair value, and, therefore, the Company's carrying value of limited partnerships approximates fair value. As these investments are not actively traded and the corresponding inputs are based on data provided by the investees, they are classified as Level 3. Short-term borrowings: The fair value of the Company's short-term borrowings is based on quoted market prices for the same or similar debt, or, if no quoted market prices are available, on the current market interest rates available to the Company for debt of similar terms and remaining maturities. A summary of the carrying value and fair value by level of financial instruments not recorded at fair value on the Company's condensed consolidated balance sheets at June 30, 2017 and December 31, 2016 are as follows: Carrying Fair Value Value Level 1 Level 2 Level 3 Total June 30, 2017 Assets: Limited partnerships $ 67,087 $ - $ - $ 67,087 $ 67,087 Liabilities: Short-term borrowings 20,000 - 20,000 - 20,000 December 31, 2016 Assets: Limited partnerships 76,469 - - 76,469 76,469 Liabilities: Short-term borrowings 20,000 - 20,000 - 20,000

Restricted Stock

Restricted Stock	6 Months Ended
	Jun. 30, 2017
Restricted Stock [Abstract]
Restricted Stock	(9) Restricted Stock: The Company grants shares of class B restricted stock to the Company's outside directors, in lieu of cash, as their annual retainer compensation. The shares are distributed on the vesting date, one year following the date of grant, and have had an aggregate total value of $440 for each of the 2016 and 2017 annual periods presented. The table below provides detail of the stock issuances for 2016 and 2017: Value Per Share Effective Number of Shares Vesting Service on Grant Date Issued Date Period Date 5/10/2016 17,677 5/10/2017 7/1/2016 - 6/30/2017 $24.89 5/9/2017 18,183 5/9/2018 7/1/2017 - 6/30/2018 $24.20 Compensation expense related to the above stock grants is recognized over the period in which the directors render services. Effective February 8, 2017, the Company awarded 20,181 shares of Class B restricted stock to certain of the Company's executives under the Company's Restricted Stock Compensation Plan. The restricted shares represent a portion of the calendar year 2016 compensation to certain executives under the terms of the Company's Executive Incentive Bonus Plan. The restricted shares will vest over a three-year period from the date of grant and will be distributed solely in the Company's Class B common stock. The restricted shares were valued based on the closing price of the Company's Class B common stock on the day the award was granted. Each share was valued at $23.80 per share, representing a total value of $480. Non-vested restricted shares will be forfeited should an executive's employment terminate for any reason other than death, disability, or retirement as defined by the Compensation Committee of the Company's Board of Directors.

Litigation, Commitments and Con

Litigation, Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Litigation, Commitments and Contingencies [Abstract]
Litigation, Commitments and Contingencies	(10) Litigation, Commitments and Contingencies: In the ordinary, regular and routine course of their business, the Company and its insurance subsidiaries are frequently involved in various matters of litigation relating principally to claims for insurance coverage provided. No currently pending matter is deemed by management to be material to the Company.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2017
Accumulated Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income	(11) Accumulated Other Comprehensive Income: The following table illustrates changes in accumulated other comprehensive income by component for the six months ended June 30, 2017: Unrealized holding gains on Foreign available-for-sale Currency securities Total Beginning balance $ (831 ) $ 34,051 $ 33,220 Other comprehensive income before reclassifications 453 11,137 11,590 Amounts reclassified from accumulated other comprehensive income - (2,322 ) (2,322 ) Net current-period other comprehensive income 453 8,815 9,268 Ending balance $ (378 ) $ 42,866 $ 42,488

Other Operating Expenses

Other Operating Expenses	6 Months Ended
	Jun. 30, 2017
Other Operating Expenses [Abstract]
Other Operating Expenses	( 12) Other Operating Expenses: During 2015, the Company entered into a consulting contract with an insurance brokerage firm of which a director of the Company is CEO and a Managing Director. The consulting contract provides for an annual fee of $300 for 2017 and 2016, respectively. The Company also has a brokerage agreement with this entity. The Company incurred commission expense in connection with insurance policies written in 2017 and 2016 under this brokerage agreement. Total commission expense for the three months ended June 30, 2017 and 2016 was $205 and $140, respectively. Total commission expense for the six months ended June 30, 2017 and 2016 was $359 and $140, respectively.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	( 13) Subsequent Events: The Company has evaluated subsequent events for recognition or disclosure in these condensed consolidated financial statements filed on Form 10-Q with the Securities and Exchange Commission and no events have occurred through the filing date of this Form 10-Q which require recognition or disclosure.

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Summary of Significant Accounting Policies [Abstract]
Description of Business	Description of Business : The Company determined that its business constituted one reportable property and casualty insurance segment as of January 1, 2017. During 2016 and prior years, the Company had two reportable segments – property and casualty insurance and reinsurance. The Company moved to a single reportable segment based on how its operating results are regularly reviewed by the Company's chief operating decision maker when making decisions about how resources are to be allocated to the segment and assessing its performance. The prior period segment information throughout this Quarterly Report on Form 10-Q was updated to conform to the current year presentation.
Basis of Presentation	Basis of Presentation:
Investments	Investments Short-term and other investments are carried at cost, which approximates their fair values. Realized gains and losses on disposals of investments are recorded on the trade date and are determined by specific identification of cost of investments sold and are included in income. All fixed maturity and equity securities are considered to be available-for-sale; the related unrealized net gains or losses (net of applicable tax effect) are reflected directly in shareholders' equity. Included within available for sale fixed maturity securities are convertible debt securities. A portion of the changes in fair values of convertible debt securities are reflected as a component of net realized gains (losses) on investments. In accordance with the Financial Accounting Standards Board's ("FASB") other-than-temporary impairment guidance, if a fixed maturity security is in an unrealized loss position and the Company has the intent to sell the fixed maturity security, or it is more likely than not that the Company will have to sell the fixed maturity security before recovery of its amortized cost basis, the decline in value is deemed to be other-than-temporary and is recorded to net realized losses on investments in the condensed consolidated statements of operations. For impaired fixed maturity securities that the Company does not intend to sell or in cases where it is more likely than not that the Company will not have to sell such securities, but the Company expects that it will not fully recover the amortized cost basis, the credit component of the other-than-temporary impairment is recognized in net realized losses on investments in the condensed consolidated statements of operations and the non-credit component of the other-than-temporary impairment is recognized directly in shareholders' equity (accumulated other comprehensive income). The credit component of an other-than-temporary impairment is determined by comparing the net present value of projected future cash flows with the amortized cost basis of the fixed maturity security. The net present value is calculated by discounting the Company's best estimate of projected future cash flows at the appropriate effective interest rate. The unrealized net gains or losses (net of applicable tax effect) related to equity securities are reflected directly in shareholders' equity, unless a decline in value is determined to be other-than-temporary, in which case the loss is charged to income. In determining if and when a decline in market value below cost is other-than-temporary, an objective analysis is made of each individual security where current market value is less than cost. For any equity security where the unrealized loss exceeds a set percentage of original or adjusted cost, and where that decline has existed for a period of at least one year, the decline is treated as an other-than-temporary impairment. Additionally, the Company takes into account any known subjective information in evaluating for impairment, separate from consideration of the Company's quantitative criteria defined above, as well as the Company's intent and ability to retain the equity security for a period of time sufficient to allow for such recovery in fair value.
Recent Accounting Pronouncements	Recent Accounting Pronouncements: In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), as amended by subsequently issued ASUs, to clarify the principles for recognizing revenue. While insurance contracts are not within the scope of this updated guidance, the Company's service and fee income could be subject to this updated guidance. The updated guidance requires an entity to recognize revenue as performance obligations are met, in order to reflect the transfer of promised goods or services to customers in an amount that reflects the consideration the entity is entitled to receive for those goods or services. The following steps are applied in the updated guidance: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, the entity satisfies a performance obligation. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, which deferred the effective date of ASU 2014-09 to the quarter ending March 31, 2018. The Company has performed an initial evaluation of the impact this guidance will have on its results of operations, financial position or liquidity. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), or ASU 2016-02. Upon the effective date, ASU 2016-02 will supersede the current lease guidance in ASC Topic 840, Leases. Under the new guidance, lessees will be required to recognize for all leases, with the exception of short-term leases, a lease liability, which is a lessee's obligation to make lease payments arising from a lease, measured on a discounted basis. Concurrently, lessees will be required to recognize a right-of-use asset, which is an asset that represents the lessee's right to use, or control the use of, a specified asset for the lease term. ASU 2016-02 is effective for interim and annual reporting periods beginning after December 15, 2018, with early adoption permitted. The guidance is required to be applied using a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative periods presented in the financial statements. The Company is currently evaluating the effects that adoption of ASU 2016-02 will have on its consolidated financial statements, results of operations and cash flows. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, or ASU 2016-13. This update introduces a current expected credit loss model for measuring expected credit losses for certain types of financial instruments held at the reporting date based on historical experience, current conditions and reasonable supportable forecasts. ASU 2016-13 replaces the current incurred loss model for measuring expected credit losses, requires expected losses on available-for-sale debt securities to be recognized through an allowance for credit losses rather than as reductions in the amortized cost of the securities, and provides for additional disclosure requirements. ASU 2016-13 is effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted for interim and annual reporting periods beginning after December 15, 2018. The Company is currently evaluating the effects that adoption of ASU 2016-13 will have on its consolidated financial statements, results of operations and cash flows. In January 2017, the FASB issued ASU No. 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, or ASU 2017-04. This amendment removes Step 2 of the goodwill impairment test under current guidance, which requires a hypothetical purchase price allocation. The new guidance requires an impairment charge to be recognized for the amount by which the carrying amount exceeds the reporting unit's fair value. ASU 2017-04 is effective for interim and annual reporting periods beginning after December 15, 2020, with early adoption permitted. The Company does not expect the guidance to have a material impact on its results of operations, financial position or liquidity.

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2017
Investments [Abstract]
Summary of available for sale securities	The following is a summary of available-for-sale securities at June 30, 2017 and December 31, 2016: Net Cost or Gross Gross Unrealized Fair Amortized Unrealized Unrealized Gains Value Cost Gains Losses (Losses) June 30, 2017 Fixed maturities Agency collateralized mortgage obligations $ 7,927 $ 7,196 $ 732 $ (1 ) $ 731 Agency mortgage-backed securities 15,852 15,834 73 (55 ) 18 Asset-backed securities 41,543 40,354 1,263 (74 ) 1,189 Bank loans 21,557 21,496 135 (74 ) 61 Certificates of deposit 3,127 3,125 2 - 2 Collateralized mortgage obligations 6,590 6,203 426 (39 ) 387 Corporate securities 151,672 150,973 1,841 (1,142 ) 699 Mortgage-backed securities 23,962 23,305 1,046 (389 ) 657 Municipal obligations 112,718 112,280 745 (307 ) 438 Non-U.S. government obligations 27,096 27,700 406 (1,010 ) (604 ) U.S. government obligations 56,971 57,247 32 (308 ) (276 ) Total fixed maturities 469,015 465,713 6,701 (3,399 ) 3,302 Equity securities: Consumer 43,293 21,242 22,374 (323 ) 22,051 Energy 7,630 5,470 2,356 (196 ) 2,160 Financial 39,549 28,156 11,581 (188 ) 11,393 Industrial 28,093 9,591 18,593 (91 ) 18,502 Technology 9,507 4,117 5,390 - 5,390 Mutual fund 53,088 52,288 1,323 (523 ) 800 Other 6,757 4,408 2,526 (177 ) 2,349 Total equity securities 187,917 125,272 64,143 (1,498 ) 62,645 Total $ 656,932 $ 590,985 $ 70,844 $ (4,897 ) 65,947 Applicable federal income taxes (23,081 ) Net unrealized gains - net of tax $ 42,866 Net Cost or Gross Gross Unrealized Fair Amortized Unrealized Unrealized Gains Value Cost Gains Losses (Losses) December 31, 2016 Fixed maturities Agency collateralized mortgage obligations $ 6,171 $ 6,000 $ 171 $ - $ 171 Agency mortgage-backed securities 4,770 4,751 57 (38 ) 19 Asset-backed securities 45,183 45,207 458 (482 ) (24 ) Bank loans 10,349 10,222 149 (22 ) 127 Certificates of deposit 3,117 3,126 - (9 ) (9 ) Collateralized mortgage obligations 9,104 9,096 290 (282 ) 8 Corporate securities 142,683 143,356 1,643 (2,316 ) (673 ) Mortgage-backed securities 24,571 23,904 1,132 (465 ) 667 Municipal obligations 129,335 130,204 391 (1,260 ) (869 ) Non-U.S. government obligations 24,681 26,461 230 (2,010 ) (1,780 ) U.S. government obligations 91,940 92,234 74 (368 ) (294 ) Total fixed maturities 491,904 494,561 4,595 (7,252 ) (2,657 ) Equity securities: Consumer 32,576 15,231 17,656 (311 ) 17,345 Energy 12,842 5,641 7,203 (2 ) 7,201 Financial 31,186 22,417 8,998 (229 ) 8,769 Industrial 21,145 6,239 15,098 (192 ) 14,906 Technology 8,858 4,117 4,769 (28 ) 4,741 Mutual fund 6,995 6,930 121 (56 ) 65 Other 6,343 4,327 2,181 (165 ) 2,016 Total equity securities 119,945 64,902 56,026 (983 ) 55,043 Total $ 611,849 $ 559,463 $ 60,621 $ (8,235 ) 52,386 Applicable federal income taxes (18,335 ) Net unrealized gains - net of tax $ 34,051
Fixed maturity and equity security investments in unrealized loss position	The following table summarizes, for fixed maturity and equity security investments in an unrealized loss position at June 30, 2017 and December 31, 2016, respectively, the aggregate fair value and gross unrealized loss categorized by the duration those securities have been continuously in an unrealized loss position. June 30, 2017 December 31, 2016 Number of Securities Fair Value Gross Unrealized Loss Number of Securities Fair Value Gross Unrealized Loss Fixed maturity securities: 12 months or less 330 $ 260,883 $ (2,007 ) 397 $ 291,048 $ (4,380 ) Greater than 12 months 31 8,398 (1,392 ) 54 32,054 (2,872 ) Total fixed maturities 361 269,281 (3,399 ) 451 323,102 (7,252 ) Equity securities: 12 months or less 48 50,707 (1,498 ) 35 20,698 (983 ) Greater than 12 months - - - - - - Total equity securities 48 50,707 (1,498 ) 35 20,698 (983 ) Total fixed maturity and equity securities 409 $ 319,988 $ (4,897 ) 486 $ 343,800 $ (8,235 )
Fair value and cost or amortized cost of fixed maturity investments by contractual maturity	Pre-refunded municipal bonds are classified based on their pre-refunded call dates. Fair Value Cost or Amortized Cost One year or less $ 45,007 $ 45,001 Excess of one year to five years 268,334 269,180 Excess of five years to ten years 55,658 54,616 Excess of ten years 4,272 4,154 Contractual maturities 373,271 372,951 Asset-backed securities 95,744 92,762 Total $ 469,015 $ 465,713
Realized gains on investments	Following is a summary of the components of net realized gains on investments for the periods presented in the accompanying condensed consolidated statements of operations. Three Months Ended Six Months Ended June 30 June 30 2017 2016 2017 2016 Fixed maturities: Gross gains $ 4,804 $ 565 $ 5,692 $ 1,842 Gross losses (4,776 ) (1,140 ) (6,149 ) (4,036 ) Net realized gains (losses) 28 (575 ) (457 ) (2,194 ) Equity securities: Gross gains 2,892 1,126 4,498 16,636 Gross losses (355 ) (1,248 ) (468 ) (3,948 ) Net realized gains (losses) 2,537 (122 ) 4,030 12,688 Limited partnerships - net gain (loss) 731 977 6,017 (1,202 ) Total net gains $ 3,296 $ 280 $ 9,590 $ 9,292
Schedule of realized gains	Net realized gains activity for investments, as shown in the previous table, are further detailed as follows: Three Months Ended Six Months Ended June 30 June 30 2017 2016 2017 2016 Realized net gains (losses) on the disposal of securities $ 2,243 $ (1,142 ) $ 2,642 $ 7,167 Mark-to-market adjustment 249 (133 ) (35 ) (434 ) Equity in gains (losses) of limited partnership investments - realized and unrealized 731 977 6,017 (1,202 ) Impairment: Write-downs based upon objective criteria (31 ) (1,095 ) (31 ) (3,155 ) Recovery of prior write-downs upon sale or disposal 104 1,673 997 6,916 Total net gains $ 3,296 $ 280 $ 9,590 $ 9,292
Financial information of significant limited partnership investment	The Company's limited partnerships include one investment which primarily invests in public and private equity markets in India. The limited partnership investment's value as of June 30, 2017 and 2016 was $26,673 and $28,074, respectively. At June 30, 2017, the Company's estimated ownership interest in this limited partnership investment was approximately 5%. The Company's share of earnings (losses) from this limited partnership investment was $4,520 and ($196) for the six months ended June 30, 2017 and 2016, respectively. Six Months Ended June 30 2017 2016 Total assets $ 497,901 $ 464,045 Total partners' capital 497,901 458,178 Net increase (decrease) in partners' capital resulting from operations 80,173 (5,764 )

Reinsurance (Tables)

Reinsurance (Tables)	6 Months Ended
	Jun. 30, 2017
Reinsurance [Abstract]
Reinsurance	The following table summarizes the Company's transactions with reinsurers for the 2017 and 2016 comparative periods. 2017 2016 Three months ended June 30: Premiums ceded to reinsurers $ 45,791 $ 32,073 Losses and loss expenses ceded to reinsurers 52,396 19,520 Commissions from reinsurers 6,387 9,914 Six months ended June 30: Premiums ceded to reinsurers $ 77,099 $ 63,336 Losses and loss expenses ceded to reinsurers 71,870 48,845 Commissions from reinsurers 13,795 20,688

Loss and Loss Expense Reserves

Loss and Loss Expense Reserves (Tables)	6 Months Ended
	Jun. 30, 2017
Loss and Loss Expense Reserves [Abstract]
Summary of activity in reserves for losses and loss expenses	Activity in the reserves for losses and loss expenses for the six months ended June 30 is summarized as follows. All amounts are shown net of reinsurance, unless otherwise indicated. 2017 2016 Reserves at the beginning of the year $ 324,767 $ 301,753 Provision for losses and loss expenses: Claims occurring during the current year 103,666 83,052 Claims occurring during prior years 16,687 (1,763 ) Total incurred 120,353 81,289 Loss and loss expense payments: Claims occurring during the current year 23,548 18,973 Claims occurring during prior years 84,628 56,372 Total paid 108,176 75,345 Reserves at the end of the period 336,944 307,697 Reinsurance recoverable on unpaid losses at the end of the period 290,781 233,651 Reserves, gross of reinsurance recoverable, at the end of the period $ 627,725 $ 541,348

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2017
Segment Information [Abstract]
Summary of segment revenues	The following table summarizes segment revenues for the three and six months ended June 30, 2017 and 2016: Three Months Ended Six Months Ended June 30 June 30 2017 2016 2017 2016 Revenues: Net premiums earned $ 67,996 $ 68,726 $ 141,971 $ 135,635 Net investment income 4,716 3,549 8,408 6,988 Net realized gains on investments 3,296 280 9,590 9,292 Other 1,400 1,463 2,380 2,828 Total revenues $ 77,408 $ 74,018 $ 162,349 $ 154,743

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 30, 2017
Fair Value [Abstract]
Fair value measurements by level for assets measured at fair value on a recurring basis	The following tables summarize fair value measurements by level for assets measured at fair value on a recurring basis: As of June 30, 2017: Description Total Level 1 Level 2 Level 3 Fixed maturities: Agency collateralized mortgage obligations $ 7,927 $ - $ 7,927 $ - Agency mortgage-backed securities 15,852 - 15,852 - Asset-backed securities 41,543 - 37,748 3,795 Bank loans 21,557 - - 21,557 Certificates of deposit 3,127 3,127 - - Collateralized mortgage obligations 6,590 - 5,593 997 Corporate securities 146,521 - 145,695 826 Options embedded in convertible securities 5,153 - 5,153 - Mortgage-backed securities 23,962 - 22,141 1,821 Municipal obligations 112,717 - 112,503 214 Non-U.S. government obligations 27,095 3,261 23,834 - U.S. government obligations 56,971 - 56,971 - Total fixed maturities 469,015 6,388 433,417 29,210 Equity securities: Consumer 43,293 43,293 - - Energy 7,630 7,630 - - Financial 43,169 43,169 - - Industrial 29,069 28,093 976 - Technology 9,507 9,507 - - Mutual fund 48,492 48,492 - - Other 6,757 6,757 - - Total equity securities 187,917 186,941 976 - Short term 1,500 1,500 - - Cash equivalents 77,298 - 77,298 - Total $ 735,730 $ 194,829 $ 511,691 $ 29,210 As of December 31, 2016: Description Total Level 1 Level 2 Level 3 Fixed maturities: Agency collateralized mortgage obligations $ 6,171 $ - $ 6,171 $ - Agency mortgage-backed securities 4,770 - 4,770 - Asset-backed securities 45,183 - 37,919 7,264 Bank loans 10,349 - - 10,349 Certificates of deposit 3,117 3,117 - - Collateralized mortgage obligations 9,104 - 6,409 2,695 Corporate securities 137,932 - 135,794 2,138 Options embedded in convertible securities 4,751 - 4,751 - Mortgage-backed securities 24,571 - 22,206 2,365 Municipal obligations 129,335 - 129,190 145 Non-U.S. government obligations 24,681 - 24,419 262 U.S. government obligations 91,940 - 91,940 - Total fixed maturities 491,904 3,117 463,569 25,218 Equity securities: Consumer 32,576 32,576 - - Energy 12,842 12,842 - - Financial 31,186 30,943 243 - Industrial 21,145 20,262 883 - Technology 8,858 8,858 - - Mutual fund 6,995 - 6,995 - Other 6,343 6,343 - - Total equity securities 119,945 111,824 8,121 - Short term 1,500 1,500 - - Cash equivalents 59,683 - 59,683 - Total $ 673,032 $ 116,441 $ 531,373 $ 25,218
Reconciliation of beginning and ending balances of assets measured at fair value on a recurring basis using level 3 inputs	A reconciliation of the beginning and ending balances of assets measured at fair value on a recurring basis using Level 3 inputs is as follows for the six months ended June 30, 2017 and for the year ended December 31, 2016: 2017 2016 Beginning of period balance $ 25,218 $ 16,793 Total gains or losses (realized or unrealized) included in income 443 1,846 Purchases 16,857 5,540 Settlements (12,847 ) (8,791 ) Transfers into Level 3 148 10,202 Transfers out of Level 3 (609 ) (372 ) End of period balance $ 29,210 $ 25,218
Summary of the carrying value and fair value by level of financial instruments	A summary of the carrying value and fair value by level of financial instruments not recorded at fair value on the Company's condensed consolidated balance sheets at June 30, 2017 and December 31, 2016 are as follows: Carrying Fair Value Value Level 1 Level 2 Level 3 Total June 30, 2017 Assets: Limited partnerships $ 67,087 $ - $ - $ 67,087 $ 67,087 Liabilities: Short-term borrowings 20,000 - 20,000 - 20,000 December 31, 2016 Assets: Limited partnerships 76,469 - - 76,469 76,469 Liabilities: Short-term borrowings 20,000 - 20,000 - 20,000

Restricted Stock (Tables)

Restricted Stock (Tables)	6 Months Ended
	Jun. 30, 2017
Restricted Stock [Abstract]
Summary of stock issuances	The table below provides detail of the stock issuances for 2016 and 2017: Value Per Share Effective Number of Shares Vesting Service on Grant Date Issued Date Period Date 5/10/2016 17,677 5/10/2017 7/1/2016 - 6/30/2017 $24.89 5/9/2017 18,183 5/9/2018 7/1/2017 - 6/30/2018 $24.20

Accumulated Other Comprehensi27

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2017
Accumulated Other Comprehensive Income [Abstract]
Changes in accumulated other comprehensive income by component	The following table illustrates changes in accumulated other comprehensive income by component for the six months ended June 30, 2017: Unrealized holding gains on Foreign available-for-sale Currency securities Total Beginning balance $ (831 ) $ 34,051 $ 33,220 Other comprehensive income before reclassifications 453 11,137 11,590 Amounts reclassified from accumulated other comprehensive income - (2,322 ) (2,322 ) Net current-period other comprehensive income 453 8,815 9,268 Ending balance $ (378 ) $ 42,866 $ 42,488

Summary of Significant Accoun28

Summary of Significant Accounting Policies (Details) - Segment	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Summary of Significant Accounting Policies [Abstract]
Number of reportable segments	1	2

Investments (Details)

Investments (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2017USD ($)SecurityInvestment	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)SecurityPartnershipInvestment	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)Security
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract]
Fair value	$ 469,015		$ 469,015
Cost or amortized cost	465,713		465,713
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Fair value	656,932		656,932		$ 611,849
Cost or amortized cost	590,985		590,985		559,463
Gross unrealized gains	70,844		70,844		60,621
Gross unrealized losses	(4,897)		(4,897)		(8,235)
Net unrealized gains (losses)	$ 65,947		65,947		52,386
Applicable federal income taxes			(23,081)		(18,335)
Net unrealized gains - net of tax			$ 42,866		$ 34,051
Available-for-sale Securities Continuous Unrealized Loss Position [Abstract]
Number of Securities, total | Security	409		409		486
Available-for-sale Securities Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair value, total	$ 319,988		$ 319,988		$ 343,800
Available-for-sale Securities Continuous Unrealized Loss Position, Aggregate Losses [Abstract]
Gross unrealized loss, total	(4,897)		(4,897)		(8,235)
Available-for-sale Securities Debt Maturities Fair Value [Abstract]
One year or less, Fair Value	45,007		45,007
Excess of one year to five years, Fair Value	268,334		268,334
Excess of five years to ten years, Fair Value	55,658		55,658
Excess of ten years, Fair Value	4,272		4,272
Total contractual maturities, Fair Value	373,271		373,271
Asset-backed securities, Fair Value	95,744		95,744
Total, Fair Value	469,015		469,015
Available-for-sale Securities Debt Maturities Amortized Cost Basis [Abstract]
One year or less, Cost or Amortized Cost	45,001		45,001
Excess of one year to five years, Cost or Amortized Cost	269,180		269,180
Excess of five years to ten years, Cost or Amortized Cost	54,616		54,616
Excess of ten years, Cost or Amortized Cost	4,154		4,154
Total contractual maturities, Cost or Amortized Cost	372,951		372,951
Asset-backed securities, Cost or Amortized Cost	92,762		92,762
Cost or amortized cost	465,713		465,713
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract]
Limited partnerships - net gain (loss)	731	$ 977	6,017	$ (1,202)
Net realized gains on investments	3,296	280	9,590	9,292
Available for Sale Securities Gain Loss Activity [Abstract]
Realized net gains (losses) on the disposal of securities	2,243	(1,142)	2,642	7,167
Mark-to-market adjustment	249	(133)	(35)	(434)
Equity in gains (losses) of limited partnership investments - realized and unrealized	731	977	6,017	(1,202)
Impairment [Abstract]
Write-downs based upon objective criteria	(31)	(1,095)	(31)	(3,155)
Recovery of prior write-downs upon sale or disposal	104	1,673	997	6,916
Net realized gains on investments	3,296	280	9,590	9,292
Summarized financial information of significant limited partnership investments [Abstract]
Total assets	1,256,292		1,256,292		1,154,137
Directors [Member]
Limited Partners' Capital Account [Line Items]
Invested assets other than limited partnership			23,485
Agency Collateralized Mortgage Obligations [Member]
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract]
Fair value	7,927		7,927		6,171
Cost or amortized cost	7,196		7,196		6,000
Gross unrealized gains	732		732		171
Gross unrealized losses	(1)		(1)		0
Net unrealized gains (losses)	731		731		171
Available-for-sale Securities Debt Maturities Fair Value [Abstract]
Total, Fair Value	7,927		7,927		6,171
Available-for-sale Securities Debt Maturities Amortized Cost Basis [Abstract]
Cost or amortized cost	7,196		7,196		6,000
Agency Mortgage Backed Securities [Member]
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract]
Fair value	15,852		15,852		4,770
Cost or amortized cost	15,834		15,834		4,751
Gross unrealized gains	73		73		57
Gross unrealized losses	(55)		(55)		(38)
Net unrealized gains (losses)	18		18		19
Available-for-sale Securities Debt Maturities Fair Value [Abstract]
Total, Fair Value	15,852		15,852		4,770
Available-for-sale Securities Debt Maturities Amortized Cost Basis [Abstract]
Cost or amortized cost	15,834		15,834		4,751
Asset-backed Securities [Member]
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract]
Fair value	41,543		41,543		45,183
Cost or amortized cost	40,354		40,354		45,207
Gross unrealized gains	1,263		1,263		458
Gross unrealized losses	(74)		(74)		(482)
Net unrealized gains (losses)	1,189		1,189		(24)
Available-for-sale Securities Debt Maturities Fair Value [Abstract]
Total, Fair Value	41,543		41,543		45,183
Available-for-sale Securities Debt Maturities Amortized Cost Basis [Abstract]
Cost or amortized cost	40,354		40,354		45,207
Bank Loans [Member]
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract]
Fair value	21,557		21,557		10,349
Cost or amortized cost	21,496		21,496		10,222
Gross unrealized gains	135		135		149
Gross unrealized losses	(74)		(74)		(22)
Net unrealized gains (losses)	61		61		127
Available-for-sale Securities Debt Maturities Fair Value [Abstract]
Total, Fair Value	21,557		21,557		10,349
Available-for-sale Securities Debt Maturities Amortized Cost Basis [Abstract]
Cost or amortized cost	21,496		21,496		10,222
Certificates of Deposit [Member]
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract]
Fair value	3,127		3,127		3,117
Cost or amortized cost	3,125		3,125		3,126
Gross unrealized gains	2		2		0
Gross unrealized losses	0		0		(9)
Net unrealized gains (losses)	2		2		(9)
Available-for-sale Securities Debt Maturities Fair Value [Abstract]
Total, Fair Value	3,127		3,127		3,117
Available-for-sale Securities Debt Maturities Amortized Cost Basis [Abstract]
Cost or amortized cost	3,125		3,125		3,126
Collateralized Mortgage Obligations [Member]
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract]
Fair value	6,590		6,590		9,104
Cost or amortized cost	6,203		6,203		9,096
Gross unrealized gains	426		426		290
Gross unrealized losses	(39)		(39)		(282)
Net unrealized gains (losses)	387		387		8
Available-for-sale Securities Debt Maturities Fair Value [Abstract]
Total, Fair Value	6,590		6,590		9,104
Available-for-sale Securities Debt Maturities Amortized Cost Basis [Abstract]
Cost or amortized cost	6,203		6,203		9,096
Corporate Securities [Member]
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract]
Fair value	151,672		151,672		142,683
Cost or amortized cost	150,973		150,973		143,356
Gross unrealized gains	1,841		1,841		1,643
Gross unrealized losses	(1,142)		(1,142)		(2,316)
Net unrealized gains (losses)	699		699		(673)
Available-for-sale Securities Debt Maturities Fair Value [Abstract]
Total, Fair Value	151,672		151,672		142,683
Available-for-sale Securities Debt Maturities Amortized Cost Basis [Abstract]
Cost or amortized cost	150,973		150,973		143,356
Mortgage-backed Securities [Member]
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract]
Fair value	23,962		23,962		24,571
Cost or amortized cost	23,305		23,305		23,904
Gross unrealized gains	1,046		1,046		1,132
Gross unrealized losses	(389)		(389)		(465)
Net unrealized gains (losses)	657		657		667
Available-for-sale Securities Debt Maturities Fair Value [Abstract]
Total, Fair Value	23,962		23,962		24,571
Available-for-sale Securities Debt Maturities Amortized Cost Basis [Abstract]
Cost or amortized cost	23,305		23,305		23,904
Municipal Obligations [Member]
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract]
Fair value	112,718		112,718		129,335
Cost or amortized cost	112,280		112,280		130,204
Gross unrealized gains	745		745		391
Gross unrealized losses	(307)		(307)		(1,260)
Net unrealized gains (losses)	438		438		(869)
Available-for-sale Securities Debt Maturities Fair Value [Abstract]
Total, Fair Value	112,718		112,718		129,335
Available-for-sale Securities Debt Maturities Amortized Cost Basis [Abstract]
Cost or amortized cost	112,280		112,280		130,204
Non-U.S. Government Obligations [Member]
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract]
Fair value	27,096		27,096		24,681
Cost or amortized cost	27,700		27,700		26,461
Gross unrealized gains	406		406		230
Gross unrealized losses	(1,010)		(1,010)		(2,010)
Net unrealized gains (losses)	(604)		(604)		(1,780)
Available-for-sale Securities Debt Maturities Fair Value [Abstract]
Total, Fair Value	27,096		27,096		24,681
Available-for-sale Securities Debt Maturities Amortized Cost Basis [Abstract]
Cost or amortized cost	27,700		27,700		26,461
U.S. Government Obligations [Member]
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract]
Fair value	56,971		56,971		91,940
Cost or amortized cost	57,247		57,247		92,234
Gross unrealized gains	32		32		74
Gross unrealized losses	(308)		(308)		(368)
Net unrealized gains (losses)	(276)		(276)		(294)
Available-for-sale Securities Debt Maturities Fair Value [Abstract]
Total, Fair Value	56,971		56,971		91,940
Available-for-sale Securities Debt Maturities Amortized Cost Basis [Abstract]
Cost or amortized cost	57,247		57,247		92,234
Total Fixed Maturities [Member]
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract]
Fair value	469,015		469,015		491,904
Cost or amortized cost	465,713		465,713		494,561
Gross unrealized gains	6,701		6,701		4,595
Gross unrealized losses	(3,399)		(3,399)		(7,252)
Net unrealized gains (losses)	$ 3,302		$ 3,302		$ (2,657)
Available-for-sale Securities Continuous Unrealized Loss Position [Abstract]
Number of Securities, 12 months or less | Security	330		330		397
Number of Securities, Greater than 12 months | Security	31		31		54
Number of Securities, total | Security	361		361		451
Available-for-sale Securities Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair value, 12 months or less	$ 260,883		$ 260,883		$ 291,048
Fair value, Greater than 12 months	8,398		8,398		32,054
Fair value, total	269,281		269,281		323,102
Available-for-sale Securities Continuous Unrealized Loss Position, Aggregate Losses [Abstract]
Gross unrealized loss, 12 months or less	(2,007)		(2,007)		(4,380)
Gross unrealized loss, Greater than 12 months	(1,392)		(1,392)		(2,872)
Gross unrealized loss, total	(3,399)		(3,399)		(7,252)
Available-for-sale Securities Debt Maturities Fair Value [Abstract]
Total, Fair Value	469,015		469,015		491,904
Available-for-sale Securities Debt Maturities Amortized Cost Basis [Abstract]
Cost or amortized cost	465,713		465,713		494,561
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract]
Gross gains	4,804	565	5,692	1,842
Gross losses	(4,776)	(1,140)	(6,149)	(4,036)
Net realized gains (losses)	28	(575)	(457)	(2,194)
Consumer [Member]
Available-for-sale Equity Securities, Amortized Cost Basis [Abstract]
Fair value	43,293		43,293		32,576
Cost or amortized cost	21,242		21,242		15,231
Gross unrealized gains	22,374		22,374		17,656
Gross unrealized losses	(323)		(323)		(311)
Net unrealized gains (losses)	22,051		22,051		17,345
Energy [Member]
Available-for-sale Equity Securities, Amortized Cost Basis [Abstract]
Fair value	7,630		7,630		12,842
Cost or amortized cost	5,470		5,470		5,641
Gross unrealized gains	2,356		2,356		7,203
Gross unrealized losses	(196)		(196)		(2)
Net unrealized gains (losses)	2,160		2,160		7,201
Financial [Member]
Available-for-sale Equity Securities, Amortized Cost Basis [Abstract]
Fair value	39,549		39,549		31,186
Cost or amortized cost	28,156		28,156		22,417
Gross unrealized gains	11,581		11,581		8,998
Gross unrealized losses	(188)		(188)		(229)
Net unrealized gains (losses)	11,393		11,393		8,769
Industrial [Member]
Available-for-sale Equity Securities, Amortized Cost Basis [Abstract]
Fair value	28,093		28,093		21,145
Cost or amortized cost	9,591		9,591		6,239
Gross unrealized gains	18,593		18,593		15,098
Gross unrealized losses	(91)		(91)		(192)
Net unrealized gains (losses)	18,502		18,502		14,906
Technology [Member]
Available-for-sale Equity Securities, Amortized Cost Basis [Abstract]
Fair value	9,507		9,507		8,858
Cost or amortized cost	4,117		4,117		4,117
Gross unrealized gains	5,390		5,390		4,769
Gross unrealized losses	0		0		(28)
Net unrealized gains (losses)	5,390		5,390		4,741
Mutual Fund [Member]
Available-for-sale Equity Securities, Amortized Cost Basis [Abstract]
Fair value	53,088		53,088		6,995
Cost or amortized cost	52,288		52,288		6,930
Gross unrealized gains	1,323		1,323		121
Gross unrealized losses	(523)		(523)		(56)
Net unrealized gains (losses)	800		800		65
Other [Member]
Available-for-sale Equity Securities, Amortized Cost Basis [Abstract]
Fair value	6,757		6,757		6,343
Cost or amortized cost	4,408		4,408		4,327
Gross unrealized gains	2,526		2,526		2,181
Gross unrealized losses	(177)		(177)		(165)
Net unrealized gains (losses)	2,349		2,349		2,016
Total Equity Securities [Member]
Available-for-sale Equity Securities, Amortized Cost Basis [Abstract]
Fair value	187,917		187,917		119,945
Cost or amortized cost	125,272		125,272		64,902
Gross unrealized gains	64,143		64,143		56,026
Gross unrealized losses	(1,498)		(1,498)		(983)
Net unrealized gains (losses)	$ 62,645		$ 62,645		$ 55,043
Available-for-sale Securities Continuous Unrealized Loss Position [Abstract]
Number of Securities, 12 months or less | Security	48		48		35
Number of Securities, Greater than 12 months | Security	0		0		0
Number of Securities, total | Security	48		48		35
Available-for-sale Securities Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair value, 12 months or less	$ 50,707		$ 50,707		$ 20,698
Fair value, Greater than 12 months	0		0		0
Fair value, total	50,707		50,707		20,698
Available-for-sale Securities Continuous Unrealized Loss Position, Aggregate Losses [Abstract]
Gross unrealized loss, 12 months or less	(1,498)		(1,498)		(983)
Gross unrealized loss, Greater than 12 months	0		0		0
Gross unrealized loss, total	(1,498)		(1,498)		$ (983)
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract]
Gross gains	2,892	1,126	4,498	16,636
Gross losses	(355)	(1,248)	(468)	(3,948)
Net realized gains (losses)	2,537	(122)	4,030	12,688
Limited Partnership [Member]
Limited Partners' Capital Account [Line Items]
Undistributed earnings of limited partnership, net of taxes	28,669		28,669
Total investment in limited partnerships	$ 39,479		$ 39,479
Number of partnerships investment | Partnership			2
Number of significant investments in public and private equity market in India | Investment	1		1
Significant investment in public and private equity markets in India, value	$ 28,074	26,673	$ 28,074	26,673
Estimated ownership interest in significant limited partnership investment			5.00%
Earnings (losses) from limited partnership investment			$ 4,520	(196)
Summarized financial information of significant limited partnership investments [Abstract]
Total assets	497,901	464,045	497,901	464,045
Total partners' capital	$ 497,901	$ 458,178	497,901	458,178
Net increase (decrease) in partners' capital resulting from operations			$ 80,173	$ (5,764)

Reinsurance (Details)

Reinsurance (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Reinsurance [Abstract]
Premiums ceded to reinsurers	$ 45,791	$ 32,073	$ 77,099	$ 63,336
Losses and loss expenses ceded to reinsurers	52,396	19,520	71,870	48,845
Commissions from reinsurers	$ 6,387	$ 9,914	$ 13,795	$ 20,688

Loss and Loss Expense Reserve31

Loss and Loss Expense Reserves (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Activity in the reserve for losses and loss expenses [Roll Forward]
Reserves at the beginning of the year	$ 324,767	$ 301,753
Provision for losses and loss expenses [Abstract]
Claims occurring during the current year	103,666	83,052
Claims occurring during prior years	16,687	(1,763)
Total incurred	120,353	81,289
Loss and loss expense payments [Abstract]
Claims occurring during the current year	23,548	18,973
Claims occurring during prior years	84,628	56,372
Total paid	108,176	75,345
Reserves at the end of the period	336,944	307,697
Reinsurance recoverable on unpaid losses at the end of the period	290,781	233,651
Reserves, gross of reinsurance recoverable, at the end of the period	627,725	$ 541,348
Savings developed in settlements of claims with comparative developments for previous calendar years	$ 16,687

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)Segment	Jun. 30, 2016USD ($)	Dec. 31, 2016Segment
Segment Information [Abstract]
Number of reportable segments | Segment			1		2
Summary of Segment Revenue [Abstract]
Net premiums earned	$ 67,996	$ 68,726	$ 141,971	$ 135,635
Net investment income	4,716	3,549	8,408	6,988
Net realized gains on investments	3,296	280	9,590	9,292
Other	1,400	1,463	2,380	2,828
Total revenues	77,408	74,018	162,349	154,743
Property and Casualty Insurance [Member]
Summary of Segment Revenue [Abstract]
Net premiums earned	67,996	68,726	141,971	135,635
Net investment income	4,716	3,549	8,408	6,988
Net realized gains on investments	3,296	280	9,590	9,292
Other	1,400	1,463	2,380	2,828
Total revenues	$ 77,408	$ 74,018	$ 162,349	$ 154,743

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Debt [Abstract]
Revolving line of credit limit	$ 40,000
Line of credit maturity date	Sep. 23, 2018
Period of fixed interest on line of credit at company's options	1 year
Outstanding drawings on line of credit	$ 20,000	$ 20,000
Effective interest rate	2.32%
Remaining amount under line of credit	$ 20,000

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Fixed maturities [Abstract]
Total fixed maturities	$ 469,015	$ 491,904
Equity securities [Abstract]
Total equity securities	187,917	119,945
Recurring [Member]
Fixed maturities [Abstract]
Agency collateralized mortgage obligations	7,927	6,171
Agency mortgage-backed securities	15,852	4,770
Asset-backed securities	41,543	45,183
Bank loans	21,557	10,349
Certificates of deposit	3,127	3,117
Collateralized mortgage obligations	6,590	9,104
Corporate securities	146,521	137,932
Options embedded in convertible securities	5,153	4,751
Mortgage-backed securities	23,962	24,571
Municipal obligations	112,717	129,335
Non-U.S. government obligations	27,095	24,681
U.S. government obligations	56,971	91,940
Total fixed maturities	469,015	491,904
Equity securities [Abstract]
Consumer	43,293	32,576
Energy	7,630	12,842
Financial	43,169	31,186
Industrial	29,069	21,145
Technology	9,507	8,858
Mutual fund	48,492	6,995
Other	6,757	6,343
Total equity securities	187,917	119,945
Short-term	1,500	1,500
Cash equivalents	77,298	59,683
Total fair value	735,730	673,032
Recurring [Member] | Level 1 [Member]
Fixed maturities [Abstract]
Agency collateralized mortgage obligations	0	0
Agency mortgage-backed securities	0	0
Asset-backed securities	0	0
Bank loans	0	0
Certificates of deposit	3,127	3,117
Collateralized mortgage obligations	0	0
Corporate securities	0	0
Options embedded in convertible securities	0	0
Mortgage-backed securities	0	0
Municipal obligations	0	0
Non-U.S. government obligations	3,261	0
U.S. government obligations	0	0
Total fixed maturities	6,388	3,117
Equity securities [Abstract]
Consumer	43,293	32,576
Energy	7,630	12,842
Financial	43,169	30,943
Industrial	28,093	20,262
Technology	9,507	8,858
Mutual fund	48,492	0
Other	6,757	6,343
Total equity securities	186,941	111,824
Short-term	1,500	1,500
Cash equivalents	0	0
Total fair value	194,829	116,441
Recurring [Member] | Level 2 [Member]
Fixed maturities [Abstract]
Agency collateralized mortgage obligations	7,927	6,171
Agency mortgage-backed securities	15,852	4,770
Asset-backed securities	37,748	37,919
Bank loans	0	0
Certificates of deposit	0	0
Collateralized mortgage obligations	5,593	6,409
Corporate securities	145,695	135,794
Options embedded in convertible securities	5,153	4,751
Mortgage-backed securities	22,141	22,206
Municipal obligations	112,503	129,190
Non-U.S. government obligations	23,834	24,419
U.S. government obligations	56,971	91,940
Total fixed maturities	433,417	463,569
Equity securities [Abstract]
Consumer	0	0
Energy	0	0
Financial	0	243
Industrial	976	883
Technology	0	0
Mutual fund	0	6,995
Other	0	0
Total equity securities	976	8,121
Short-term	0	0
Cash equivalents	77,298	59,683
Total fair value	511,691	531,373
Recurring [Member] | Level 3 [Member]
Fixed maturities [Abstract]
Agency collateralized mortgage obligations	0	0
Agency mortgage-backed securities	0	0
Asset-backed securities	3,795	7,264
Bank loans	21,557	10,349
Certificates of deposit	0	0
Collateralized mortgage obligations	997	2,695
Corporate securities	826	2,138
Options embedded in convertible securities	0	0
Mortgage-backed securities	1,821	2,365
Municipal obligations	214	145
Non-U.S. government obligations	0	262
U.S. government obligations	0	0
Total fixed maturities	29,210	25,218
Equity securities [Abstract]
Consumer	0	0
Energy	0	0
Financial	0	0
Industrial	0	0
Technology	0	0
Mutual fund	0	0
Other	0	0
Total equity securities	0	0
Short-term	0	0
Cash equivalents	0	0
Total fair value	$ 29,210	$ 25,218

Fair Value, Unobservable Input

Fair Value, Unobservable Input Reconciliation (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Fair Value Assets Measured on Recurring Basis Unobservable Input Reconciliation Calculation [Roll Forward]
Beginning of period balance	$ 25,218	$ 16,793
Total gains or losses (realized or unrealized) included in income	443	1,846
Purchases	16,857	5,540
Settlements	(12,847)	(8,791)
Transfers into Level 3	148	10,202
Transfers out of Level 3	(609)	(372)
End of period balance	$ 29,210	$ 25,218

Fair Value, Balance Sheet Group

Fair Value, Balance Sheet Grouping (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Assets [Abstract]
Limited partnerships	$ 67,087	$ 76,469
Carrying Value [Member]
Assets [Abstract]
Limited partnerships	67,087	76,469
Liabilities [Abstract]
Short-term borrowings	20,000	20,000
Fair Value [Member]
Assets [Abstract]
Limited partnerships	67,087	76,469
Liabilities [Abstract]
Short-term borrowings	20,000	20,000
Fair Value [Member] | Level 1 [Member]
Assets [Abstract]
Limited partnerships	0	0
Liabilities [Abstract]
Short-term borrowings	0	0
Fair Value [Member] | Level 2 [Member]
Assets [Abstract]
Limited partnerships	0	0
Liabilities [Abstract]
Short-term borrowings	20,000	20,000
Fair Value [Member] | Level 3 [Member]
Assets [Abstract]
Limited partnerships	67,087	76,469
Liabilities [Abstract]
Short-term borrowings	$ 0	$ 0

Restricted Stock (Details)

Restricted Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	Feb. 08, 2017	Jun. 30, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares distribution period from grant date		1 year
5/10/2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Value per share on grant date (in dollars per share)		$ 24.89
Summary of stock Issuances [Abstract]
Number of shares issued (in shares)		17,677
Vesting date		May 10, 2017
Service Period		7/1/2016 - 6/30/2017
5/09/2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Value per share on grant date (in dollars per share)		$ 24.20
Summary of stock Issuances [Abstract]
Number of shares issued (in shares)		18,183
Vesting date		May 9, 2018
Service Period		7/1/2017 - 6/30/2018
Restricted Stock Units (RSUs) [Member]
Summary of stock Issuances [Abstract]
Period restricted stocks will vest ratably from date of grant		3 years
Restricted Stock Units (RSUs) [Member] | Class B [Member] | Outside Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total value of shares issued		$ 440	$ 440
Restricted Stock Units (RSUs) [Member] | Class B [Member] | Executives [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total value of shares issued	$ 480
Shares awarded (in shares)	20,181
Value per share on grant date (in dollars per share)	$ 23.80

Accumulated Other Comprehensi38

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			$ 404,345
Other comprehensive income before reclassifications			11,590
Amounts reclassified from accumulated other comprehensive income			(2,322)
Other comprehensive income (loss)	$ 3,868	$ 3,924	9,268	$ (3,707)
Ending balance	400,771		400,771
AOCI Attributable to Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			33,220
Ending balance	42,488		42,488
Foreign Currency [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(831)
Other comprehensive income before reclassifications			453
Amounts reclassified from accumulated other comprehensive income			0
Other comprehensive income (loss)			453
Ending balance	(378)		(378)
Unrealized Holding Gains on Available-for-sale Securities [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			34,051
Other comprehensive income before reclassifications			11,137
Amounts reclassified from accumulated other comprehensive income			(2,322)
Other comprehensive income (loss)			8,815
Ending balance	$ 42,866		$ 42,866

Other Operating Expenses (Detai

Other Operating Expenses (Details) - Director [Member] - Consulting Contract [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Related Party Transaction [Line Items]
Annual consulting contract fees			$ 300		$ 300
Total commission expense	$ 205	$ 140	$ 359	$ 140