· XLS file · Web view2017-09-15 · 1301106. 2015. 202. 19924535. 1050988 974746. 81629 85228. 47891 46786. 1180508 1106760. 71944 53583. 9227 8724. 294812 271336. 230346 180332

Document and Entity Information - USD ($) $ in Millions12 Months Ended

Dec. 31, 2015Document and Entity Information [Abstract]Entity Registrant Name National Interstate CORPEntity Central Index Key 1,301,106 Document Type 10-KDocument Period End DateAmendment Flag falseDocument Fiscal Year Focus 2,015 Document Fiscal Period Focus FYCurrent Fiscal Year End Date --12-31Entity Well-known Seasoned Issuer NoEntity Voluntary Filers NoEntity Current Reporting Status YesEntity Filer Category Accelerated FilerEntity Public FloatEntity Common Stock, Shares Outstanding

Dec. 31,2015

Mar. 04, 2016 Jun. 30, 2015

$ 202 19,924,535

Consolidated Balance Sheets - USD ($) $ in ThousandsInvestments:

Other invested assetsTotal investmentsCash and cash equivalentsAccrued investment incomePremiums receivable, net of allowance for doubtful accounts of $2,127 and $2,627, respectivelyReinsurance recoverable on paid and unpaid lossesPrepaid reinsurance premiumsDeferred policy acquisition costsDeferred federal income taxesProperty and equipment, netFunds held by reinsurerIntangible assets, netPrepaid expenses and other assetsTotal assetsLiabilities:Unpaid losses and loss adjustment expensesUnearned premiums and service feesLong-term debtAmounts withheld or retained for accounts of othersReinsurance balances payableAccounts payable and other liabilitiesCommissions payableAssessments and fees payableTotal liabilitiesShareholders’ equity:Preferred shares - no par value; Authorized - 10,000 shares; Issued – 0 shares

Additional paid-in capitalRetained earningsAccumulated other comprehensive incomeTreasury sharesTotal shareholders’ equityTotal liabilities and shareholders’ equity

Fixed maturities available-for-sale, at fair value (amortized cost - $1,038,230 and $945,956, respectively)Equity securities available-for-sale, at fair value (amortized cost - $81,919 and $76,352, respectively)

Common shares - $0.01 par value; Authorized - 50,000 shares; Issued – 23,350 shares, including 3,441 and 3,557 shares, respectively, in treasury

Dec. 31, 2015 Dec. 31, 2014

$ 1,050,988 $ 974,746 81,629 85,228 47,891 46,786

1,180,508 1,106,760 71,944 53,583

9,227 8,724 294,812 271,336 230,346 180,332

51,176 47,013 22,265 22,654 33,835 23,150 22,562 24,538

7,850 4,335 7,650 7,791 3,707 4,517

1,935,882 1,754,733

1,014,195 883,078 336,934 311,255

12,000 12,000 115,174 101,799

37,097 31,069 41,277 33,402 15,307 15,392

5,001 4,649 1,576,985 1,392,644

0 0 234 234

61,926 59,386 293,516 283,031

8,105 24,483 (4,884) (5,045)

358,897 362,089 $ 1,935,882 $ 1,754,733

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands Dec. 31, 2015Statement of Financial Position [Abstract]Fixed maturities available-for-sale, amortized cost $ 1,038,320 Equity securities available-for-sale, amortized cost 81,919 Allowance for doubtful accounts $ 2,127 Preferred shares, no par value (in dollars per share) $ 0 Preferred shares, authorized 10,000,000 Preferred shares, issued 0 Common shares, par value (in dollars per share) $ 0.01 Common shares, authorized 50,000,000 Common shares, issued 23,350,000 Treasury shares, issued 3,441,000

Dec. 31, 2014

$ 945,956 76,352

$ 2,627 $ 0

10,000,000 0

$ 0.01 50,000,000 23,350,000

3,557,000

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands

Revenues:Premiums earnedNet investment incomeNet realized (losses) gains on investmentsOtherTotal revenuesExpenses:Losses and loss adjustment expensesCommissions and other underwriting expensesOther operating and general expensesTransaction expenseExpense on amounts withheldInterest expenseTotal expensesIncome before income taxesProvision for income taxesNet incomeNet income per share – basic (in dollars per share)Net income per share – diluted (in dollars per share)Weighted average of common shares outstanding - basicWeighted average of common shares outstanding - dilutedCash dividends per common shareNet realized gains before impairment lossesTotal losses on securities with impairment chargesNon-credit portion recognized in other comprehensive incomeNet impairment charges recognized in earningsNet realized (losses) gains on investments

[1][2]

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands

[1]

[1]

Consists of the following: Net realized gains before impairment losses, Total losses on securities with impairment charges, Non-credit portion recognized in other comprehensive income, Net impairment charges recognized in earnings.Earnings per share are computed independently for each quarter and the full year based upon respective average shares outstanding. Therefore, the sum of the quarterly earnings per share amounts may not equal the annual amounts reported.

12 Months EndedDec. 31, 2015 Dec. 31, 2014 Dec. 31, 2013

$ 585,787 $ 557,267 $ 525,710 39,739 35,517 33,377 (3,278) 6,758 6,536 3,477 3,399 3,303

625,725 602,941 568,926

471,940 466,998 429,556 94,075 94,430 92,193 25,569 20,955 19,722

0 2,163 0 6,458 6,410 5,057

199 220 706 598,241 591,176 547,234

27,484 11,765 21,692 6,637 739 4,119

$ 20,847 $ 11,026 $ 17,573 $ 1.05 [2] $ 0.56 [2] $ 0.89 $ 1.05 [2] $ 0.56 [2] $ 0.89 19,862 19,755 19,645 19,910 19,833 19,768 $ 0.52 $ 0.48 $ 0.44

$ 4,484 $ 8,721 $ 6,691 (7,750) (1,733) (155)

(12) (230) 0 (7,762) (1,963) (155)

$ (3,278) $ 6,758 $ 6,536

Consists of the following: Net realized gains before impairment losses, Total losses on securities with impairment charges, Non-credit portion recognized in other comprehensive income, Net impairment charges recognized in earnings.Earnings per share are computed independently for each quarter and the full year based upon respective average shares outstanding. Therefore, the sum of the quarterly earnings per share amounts may not equal the annual amounts reported.

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands

Statement of Comprehensive Income [Abstract]Net incomeNet unrealized holding (losses) gains on available-for-sale securities:Net unrealized holding (losses) gains on securities arising during the periodReclassification adjustment for net realized losses (gains) included in net incomeTotal other comprehensive (loss) income, before taxDeferred income tax (benefit) expense on other comprehensive (loss) incomeOther comprehensive (loss) income, net of taxTotal comprehensive income


$ 20,847 $ 11,026 $ 17,573

(26,806) 12,593 (14,745)1,608 (4,590) (4,260)

(25,198) 8,003 (19,005)(8,820) 2,801 (6,652)

(16,378) 5,202 (12,353) $ 4,469 $ 16,228 $ 5,220

Consolidated Statements of Shareholders' Equity - USD ($) $ in ThousandsBeginning Balance at Dec. 31, 2012Net incomeOther comprehensive (loss) income, net of taxDividends on common shares

Net tax effect from exercise/ vesting of share-based compensationShare-based compensation expenseEnding Balance at Dec. 31, 2013Net incomeOther comprehensive (loss) income, net of taxDividends on common shares

Net tax effect from exercise/ vesting of share-based compensationShare-based compensation expenseEnding Balance at Dec. 31, 2014Net incomeOther comprehensive (loss) income, net of taxDividends on common shares

Net tax effect from exercise/ vesting of share-based compensationShare-based compensation expenseEnding Balance at Dec. 31, 2015

Issuance of 116,013, 132,712, and 69,662 treasury shares upon exercise of options and restricted stock issued, net of forfeitures for 2014, 2013 and 2012, respectively



Total Common stock [Member] Additional Paid-In Capital Retained Earnings $ 353,948 $ 234 $ 54,788 $ 272,618

17,573 17,573 (12,353)

(8,673) (8,673)1,127 1,031

25 25 637 637

352,284 234 56,481 281,518 11,026 11,026

5,202 (9,513) (9,513)2,414 2,229

51 51 625 625

362,089 234 59,386 283,031 20,847 20,847

(16,378)(10,362) (10,362)

1,940 1,779 (48) (48)809 809

$ 358,897 $ 234 $ 61,926 $ 293,516

Accumulated Other Comprehensive Income Treasury Stock $ 31,634 $ (5,326)

(12,353)

96

19,281 (5,230)

5,202

185

24,483 (5,045)

(16,378)

161

$ 8,105 $ (4,884)

Consolidated Statements of Shareholders' Equity (Parenthetical) - shares shares in Thousands

Treasury shares, issuedAdditional Paid-In CapitalTreasury shares, issuedTreasury StockTreasury shares, issued


116,013 132,712 69,662

116,013 132,712 69,662

116,013 132,712 69,662

Consolidated Statements of Cash Flows - USD ($) $ in Thousands

Operating activitiesNet incomeAdjustments to reconcile net income to net cash provided by operating activities:Net amortization of bond premiums and discountsProvision for depreciation and amortizationNet realized losses (gains) on investment securitiesDeferred federal income taxesShare-based compensation expenseChange in:Deferred policy acquisition costs, netReserves for losses and loss adjustment expensesPremiums receivableUnearned premiums and service feesInterest receivable and other assetsPrepaid reinsurance premiumsAccounts payable, commissions and other liabilities and assessments and fees payableAmounts withheld or retained for accounts of othersReinsurance recoverableReinsurance balances payableOther operating activities, netNet cash provided by operating activitiesInvesting activitiesPurchases of fixed maturitiesPurchases of equity securitiesProceeds from sale of fixed maturitiesProceeds from sale of equity securitiesProceeds from maturities and redemptions of investmentsChange in other investments, netCapital expendituresNet cash used in investing activitiesFinancing activitiesPayments Related to Tax Withholding for Share-based CompensationExcess Tax Benefit from Share-based CompensationProceeds from the issuance of common shares from treasuryCash dividends paid on common sharesNet cash used in financing activitiesNet increase (decrease) in cash and cash equivalentsCash and cash equivalents at beginning of yearCash and cash equivalents at end of year

[1]

Consolidated Statements of Cash Flows - USD ($) $ in Thousands

[1]

Consists of the following: Net realized gains before impairment losses, Total losses on securities with impairment charges, Non-credit portion recognized in other comprehensive income, Net impairment charges recognized in earnings.


$ 20,847 $ 11,026 $ 17,573

3,054 4,180 6,084 5,133 5,512 3,878 3,278 (6,758) (6,536)

(1,865) (125) 708 809 625 637

389 371 2,221 131,117 79,296 28,477 (23,476) (26,402) (29,244)25,679 27,673 17,456 (3,208) (2,865) 93 (4,163) (9,146) (5,297)6,388 (11,420) (11,507)

13,375 20,800 13,997 (50,014) (11,122) 5,135

6,028 4,752 6,844 621 40 (116)

133,992 86,437 50,403

(276,222) (199,414) (245,969)(28,423) (31,717) (35,986)15,240 22,146 55,538 20,497 12,670 8,748

168,160 143,111 174,304 (2,775) (3,231) (2,120)(3,638) (5,055) (3,694)

(107,161) (61,490) (49,179)

(48)51 25

1,940 2,414 1,127 (10,362) (9,513) (8,673)

(8,470) (7,048) (7,521)18,361 17,899 (6,297)53,583 35,684 41,981

$ 71,944 $ 53,583 $ 35,684


Background, Basis of Presentation and Principles of Consolidation

Organization, Consolidation and Presentation of Financial Statements [Abstract]Background, Basis of Presentation and Principles of Consolidation

12 Months EndedDec. 31, 2015

Background, Basis of Presentation and Principles of Consolidation National Interstate Corporation (the “Company”) and its subsidiaries operate as an insurance holding company group that

Significant Accounting Policies

Accounting Policies [Abstract]Significant Accounting Policies [Text Block]


2. Significant Accounting Policies Contingent Consideration The Company accounted for the contingent consideration associated with the contractual obligations of the 2010 acquisition of

Fair Value Measurements

Fair Value Disclosures [Abstract]Fair Value Measurements


Fair Value Measurements The Company must determine the appropriate level in the fair value hierarchy for each applicable measurement. The fair value hierarchy prioritizes the inputs, which

Investments

Investments, Debt and Equity Securities [Abstract]Investments


Investments The cost or amortized cost and fair value of investments in fixed maturities and equity securities are as follows: Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized

Long-term Debt

Debt Disclosure [Abstract]Long-term Debt


Long-Term Debt Long-term debt outstanding was $12.0 million at December 31, 2015 and December 31, 2014 . On November 19, 2012, the Company replaced its $50.0 million credit

Income Taxes

Income Tax Disclosure [Abstract]Income Taxes


Income Taxes Income tax (benefit) expense was as follows: Year Ended December 31, 2015 2014 2013 (Dollars in thousands) Current federal income tax provision $ 8,142 $ 1,014 $ 3,350 Current

Share-Based Compensation

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]Share-Based Compensation


Share-Based Compensation The Company grants options and other share awards to officers and key employees of the Company under the LTIP. At December 31, 2015 , there were 745,389 of the

Employee Benefit Plan

Compensation and Retirement Disclosure [Abstract]Pension and Other Postretirement Benefits Disclosure [Text Block]


Employee Benefit Plan The Company maintains a retirement savings plan under Section 401(k) of the Internal Revenue Code of 1986, as amended, covering substantially all full-time employees

Earnings Per Common Share

Earnings Per Share [Abstract]Earnings Per Common Share


Earnings Per Common Share The following table sets forth the computation of basic and diluted net income per share: Year Ended December 31, 2015 2014 2013 (In thousands, except per share

Transactions with Related Parties

Related Party Transactions [Abstract]Transactions with Related Parties


Transactions with Related Parties The Company’s principal insurance subsidiary, NIIC, is involved in the assumption of reinsurance. NIIC is a party to a reinsurance agreement, and NIIA, a wholly-

Reinsurance

Reinsurance Disclosures [Abstract]Reinsurance


Reinsurance Premiums and reinsurance activity consisted of the following: Year Ended December 31, 2015 2014 2013 (Dollars in thousands) Direct premiums written $ 708,490 $ 676,821 $ 621,532

Unpaid Losses and LAE

Unpaid Losses and LAE [Abstract]Unpaid Losses and LAE


Unpaid Losses and LAE The following table provides a reconciliation of the beginning and ending reserve balances for unpaid losses and LAE, on a net of reinsurance basis, for the dates indicated,

Expense on Amounts Withheld

Expense on Amounts Withheld [Abstract]Expense on Amounts Withheld


Expense on Amounts Withheld The Company invests funds in the participant loss layer for several of the ART programs. The Company has investment income and realized gains or losses, and incurs

Statutory Accounting Principles

Statutory Accounting Principles [Abstract]Statutory Accounting Principles


Statutory Accounting Principles ("SAP") The Company’s insurance subsidiaries report to various insurance departments using SAP prescribed or permitted by the applicable regulatory agency of

Commitments and Contingencies

Commitments and Contingencies Disclosure [Abstract]Commitments and Contingencies


Commitments and Contingencies The Company and its subsidiaries are subject at times to various claims, lawsuits and legal proceedings arising in the ordinary course of business. All legal actions

Segment Information

Segment Reporting [Abstract]Segment Information


Segment Information The Company operates its business as one segment, property and casualty insurance. The Company manages this segment through a product management structure. The

Quarterly Operating Results (Unaudited)

Quarterly Financial Information Disclosure [Abstract]Quarterly Operating Results (Unaudited)


Quarterly Operating Results (Unaudited) The following are quarterly results of operations for the years ended December 31, 2015 and 2014 : 1 st Quarter 2 nd Quarter (b) 3 rd Quarter 4 th Quarter

Equity [Abstract]Accumulated Other Comprehensive Income, Net of Tax (AOCI)

Accumulated Other Comprehensive Income, Net of Tax ("AOCI") Accumulated Other Comprehensive Income, Net of Tax ("AOCI")


Accumulated Other Comprehensive Income, Net of Tax The following table presents the changes in the Company's AOCI: Year ended December 31, 2015 2014 2013 (Dollars in thousands)

Subsequent Events

Subsequent Events [Abstract]Subsequent Events [Text Block]


19. Subsequent Event On March 7, 2016 , AFG announced that it had submitted a proposal to the Company to acquire all of the outstanding shares of Common Stock of the Company (“Common

Condensed Financial Information of Parent Company

Condensed Financial Information of Parent Company Only Disclosure [Abstract]CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY


SCHEDULE II — CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY CONDENSED BALANCE SHEETS December 31, 2015 2014 (In thousands, except per share data) ASSETS

Supplementary Insurance Information

Supplementary Insurance Information [Abstract]Supplementary Insurance Information


SCHEDULE III — SUPPLEMENTARY INSURANCE INFORMATION Deferred Policy Acquisition Costs Liability for Unpaid Losses and LAE Unearned Premiums Earned Premiums Net Investment Income

Valuation and Qualifying Accounts

Valuation and Qualifying Accounts [Abstract]Valuation and Qualifying Accounts


SCHEDULE V — VALUATION AND QUALIFYING ACCOUNTS Additions Balance at Beginning of Period Charged/(Credited) to Expenses Charged to Other Accounts Deductions (a) Balance at End

Significant Accounting Policies (Policies)

Accounting Policies [Abstract]Contingent ConsiderationCash EquivalentsPremium, Commissions and Service Fee RecognitionInvestmentsDeferred Policy Acquisition Costs ("DPAC")Property and EquipmentIntangible AssetsUnpaid Losses and Loss Adjustment Expenses ("LAE")AssessmentsPremiums ReceivableReinsuranceSegment InformationFederal Income TaxesComprehensive IncomeEarnings Per Common ShareStock-Based CompensationRecently Issued Accounting Standards


.

Contingent Consideration The Company accounted for the contingent consideration associated with the contractual obligations of the 2010 acquisition of Vanliner in accordance with ASC 805, Cash Equivalents The Company considers all highly liquid investments with a maturity date of three months or less at the date of acquisition to be cash equivalents.Premium, Commissions and Service Fee Recognition Insurance premiums, commissions and service fees generally are recognized over the terms of the policies on a daily pro rata basis. Investments The Company classifies its fixed maturity and equity securities as available-for-sale, which are recorded at fair value, with unrealized gains and losses (net of tax) on such securities Deferred Policy Acquisition Costs (“DPAC”) Policy acquisition costs, principally commissions, premium taxes and assessments, directly related to the production of new business, are deferred Property and Equipment Property and equipment are reported at cost, less accumulated depreciation and amortization, and include capitalized software developed or acquired for internal Intangible Assets The Company recognized certain intangible assets as part of the Vanliner acquisition in 2010 based on their fair value as required by ASC 805. These intangible assets Unpaid Losses and Loss Adjustment Expenses (“LAE”) The liabilities for unpaid losses and LAE represent management's best estimate and are based on estimates of policy claims reported and Assessments The Company recognizes liabilities for estimated assessments for reported insolvencies of other insurers and other charges from regulatory organizations. Management Premiums Receivable Premiums receivable are carried at cost, which approximate fair value. Management provides an allowance for doubtful accounts in the period that collectability is Reinsurance Reinsurance premiums, commissions, expense reimbursements and reserves related to reinsured business are accounted for on a basis consistent with those used in accounting for

Federal Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of Comprehensive Income Comprehensive income is defined as all changes in shareholders' equity except those arising from transactions with shareholders. It includes the Company’s net income Earnings Per Common Share Basic earnings per common share is computed based on the weighted average number of common shares outstanding during the period. Diluted earnings per Share-Based Compensation The Company grants options and other share awards to officers under its Long Term Incentive Plan (“LTIP”). The LTIP and share-based compensation are more fully Recently Issued Accounting Standards In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with

Fair Value Measurements (Tables)

Fair Value Disclosures [Abstract]Summary of investment portfolio by level within the fair value hierarchyReconciliation of the beginning and ending balances for all investments measured at fair value on a recurring basis using Level 3 inputs


The following table presents the Company’s investment portfolio, categorized by the level within the fair value hierarchy in which the fair value measurements fell as of December 31, 2015 : Level The following tables present a reconciliation of the beginning and ending balances for all investments measured at fair value on a recurring basis using Level 3 inputs for the years ending

Investments (Tables)

Investments, Debt and Equity Securities [Abstract]Available for sale fixed maturities and equity securitiesAvailable-for-sale fixed maturity securities by contractual maturity dateGains and losses on sale of investmentsRealized gains losses and changes in unrealized appreciation depreciationAvailable for sale securities in a continuous unrealized loss position

Summary of investment income earned and investment expenses incurredProgression of cumulative credit portion of other-than-temporary impairments on fixed maturity securities


4. Investments The cost or amortized cost and fair value of investments in fixed maturities and equity securities are as follows: Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized Amortized cost and fair value of the fixed maturities in the Company’s investment portfolio were as follows: Amortized Cost Fair Value (Dollars in thousands) Due in one year or less $ 35,903 $ Gains and losses on the sale of investments, including other-than-temporary impairment charges and other invested assets' gains or losses, were as follows: Year Ended December 31, 2015 2014 Realized gains (losses) and changes in unrealized appreciation (depreciation) related to fixed maturities, equity securities and other invested assets are as follows: Fixed Maturities Equity The following table summarizes the Company’s gross unrealized losses on fixed maturities and equity securities and the length of time that individual securities have been in a continuous The following table is a progression of the amount related to credit losses on fixed maturity securities for which the non-credit portion of an other-than-temporary impairment has been The following table summarizes investment income earned and investment expenses incurred: Year Ended December 31, 2015 2014 2013 (Dollars in thousands) Investment income: Fixed

Income Taxes (Tables)

Income Tax Disclosure [Abstract]Components of income tax expense (benefit)Income taxes at the statutory rate and income taxes shown in the Statements of IncomeComponents of deferred tax assets and liabilities


Income tax (benefit) expense was as follows: Year Ended December 31, 2015 2014 2013 (Dollars in thousands) Current federal income tax provision $ 8,142 $ 1,014 $ 3,350 Current state income tax A reconciliation of the provision for income taxes for financial reporting purposes and the provision for income taxes calculated at the statutory rate of 35% is as follows: Year Ended The tax effects of temporary differences that give rise to significant portions of the net deferred tax assets and liabilities in the Consolidated Balance Sheets were as follows: December 31, 2015

Share-Based Compensation (Tables)

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]Summary of stock options activitySummary of nonvested share activity


A summary of option activity in the LTIP is as follows: Year Ended December 31, 2015 Total Options Outstanding Shares Weighted Average Exercise Price Weighted Average Remaining A summary of restricted stock activity in the LTIP is as follows: Year Ended December 31, 2015 Total Nonvested Shares Shares Weighted Average Grant Date Fair Value Nonvested shares,

Earnings Per Common Share (Tables)

Earnings Per Share [Abstract]Computation of basic and diluted net income per share


The following table sets forth the computation of basic and diluted net income per share: Year Ended December 31, 2015 2014 2013 (In thousands, except per share data) Net income $ 20,847 $

Transactions with Related Parties (Tables)

Related Party Transactions [Abstract]Summary of reinsurance balance and activity with parent company


The tables below summarizes the reinsurance balance and activity with Great American: Year Ended December 31, 2015 2014 2013 (Dollars in thousands) Assumed premiums written $ 280 $

Reinsurance (Tables)

Reinsurance Disclosures [Abstract]Schedule of premiums and reinsurance activity


Premiums and reinsurance activity consisted of the following: Year Ended December 31, 2015 2014 2013 (Dollars in thousands) Direct premiums written $ 708,490 $ 676,821 $ 621,532

Unpaid Losses and LAE (Tables)

Unpaid Losses and LAE [Abstract]Reconciliation of the beginning and ending liability for unpaid losses and loss adjustment expense


The following table provides a reconciliation of the beginning and ending reserve balances for unpaid losses and LAE, on a net of reinsurance basis, for the dates indicated, to the gross amounts

Expense on Amounts Withheld (Tables)

Expense on Amounts Withheld [Abstract]Disclosure of investment income and expense on amounts withheld related to alternative risk transfer programs


The following table summarizes the activity and balances related to ART programs: Year Ended December 31, 2015 2014 2013 (Dollars in thousands) Expense on amounts withheld related to

Statutory Accounting Principles (Tables)

Statutory Accounting Principles [Abstract]Statutory Accounting Capital and Surplus and Net Income


The statutory capital and surplus and statutory net income of NIIC, VIC, TCC and NIIC-HI were as follows: December 31, (unaudited) 2015 2014 2013 (Dollars in thousands) NIIC statutory capital

Segment Information (Tables)

Segment Reporting [Abstract]Summary of revenues by business component


The following table shows revenues summarized by the broader business component description, which were determined based primarily on similar economic characteristics, products and

Quarterly Operating Results (Unaudited) (Tables)

Quarterly Financial Information Disclosure [Abstract]Schedule of quarterly operating results


The following are quarterly results of operations for the years ended December 31, 2015 and 2014 : 1 st Quarter 2 nd Quarter (b) 3 rd Quarter 4 th Quarter Year Ended (Dollars in thousands) 2015

Equity [Abstract]Schedule of Changes in Accumulated Other Comprehensive IncomeReclassification out of Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income, Net of Tax ("AOCI") Accumulated Other Comprehensive Income, Net of Tax ("AOCI") (Tables)


The following table presents the changes in the Company's AOCI: Year ended December 31, 2015 2014 2013 (Dollars in thousands) Beginning balance $ 24,483 $ 19,281 $ 31,634 Net unrealized The following table presents amounts related to unrealized gains and losses on available-for-sale securities which were reclassified out of AOCI during the years ended December 31, 2015 , 2014 ,

Background, Basis of Presentation and Principles of Consolidation (Details)

Consolidation and Basis of Presentation [Line Items]Percentage ownership of Great American Insurance Company on its subsidiaryNumber of property and casualty insurance subsidiaries owned by company | Subsidaries

Number of states in which NIIC and VIC are licensed | StatesTriumphe Casualty Company [Member]Consolidation and Basis of Presentation [Line Items]Number of states in which TCC are licensed | StatesState of California [Member]Consolidation and Basis of Presentation [Line Items]Premiums Written Gross PercentageOther States [Member]Consolidation and Basis of Presentation [Line Items]Premiums Written Gross Percentage

Number of active agencies and service subsidiaries used by company to sell and service the insurance business | Subsidaries

12 Months EndedDec. 31, 2015SubsidariesStates

51.10%5 6

50

43

15.20%

37.20%

Significant Accounting Policies (Narrative) (Details) Jul. 02, 2010Accounting Policies [Abstract]Monthly Lag for Limited Partnership Investments ReportingDuration of Balance Sheet Guaranty 4 years 6 monthsBusiness Combination, Contingent Consideration, AssetContingent Consideration Settlement ReceivedMaturity period of highly liquid investmentsAmortization of deferred policy acquisition costsPremium deficiency amountNumber of reportable segments | SegmentDeferred Tax Liability On Foreign Subsidiary Not RecognizedUndistributed Earnings of Foreign SubsidiariesProperty, Plant and Equipment [Line Items]Depreciation ExpenseEstimated useful lives intangible assetsAmortization ExpenseImpairment lossesComputer Equipment [Member] | Maximum [Member]Property, Plant and Equipment [Line Items]Property, plant and equipment, useful lifeComputer Equipment [Member] | Minimum [Member]Property, Plant and Equipment [Line Items]Property, plant and equipment, useful lifeBuilding Improvements [Member] | Maximum [Member]Property, Plant and Equipment [Line Items]Property, plant and equipment, useful lifeBuilding Improvements [Member] | Minimum [Member]Property, Plant and Equipment [Line Items]Property, plant and equipment, useful lifeComputer Software, Intangible Asset [Member]Property, Plant and Equipment [Line Items]Property, plant and equipment, useful lifeAll Other Property and Equipment [Member] | Maximum [Member]Property, Plant and Equipment [Line Items]Property, plant and equipment, useful lifeAll Other Property and Equipment [Member] | Minimum [Member]Property, Plant and Equipment [Line Items]Property, plant and equipment, useful life

Dec. 31, 2015USD ($)Segment Dec. 31, 2014USD ($) Dec. 31, 2013USD ($)

1 month

$ 0 $ 1,200,000 $ 5,700,000

three months or less $ 84,975,000 84,954,000 $ 82,240,000

$ 0 0 0 1

$ 2,700,000 8,700,000

$ 5,000,000 5,200,000 5,100,000 5 years

$ 100,000 $ 300,000 $ 300,000 $ 0

5 years

3 years

40 years

20 years

3 years

7 years

5 years

Fair Value Measurements (Details) - USD ($) $ in ThousandsFair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]Total fixed maturities and equity securitiesFair Value, Measurements, Recurring [Member]Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]Total fixed maturities and equity securitiesCash and cash equivalentsTotal fixed maturities, equity securities and cash and cash equivalents at fair valueLevel 1 [Member] | Fair Value, Measurements, Recurring [Member]Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]Total fixed maturities and equity securitiesCash and cash equivalentsTotal fixed maturities, equity securities and cash and cash equivalents at fair valueLevel 2 [Member] | Fair Value, Measurements, Recurring [Member]Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]Total fixed maturities and equity securitiesCash and cash equivalentsTotal fixed maturities, equity securities and cash and cash equivalents at fair valueLevel 3 [Member] | Fair Value, Measurements, Recurring [Member]Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]Total fixed maturities and equity securitiesCash and cash equivalentsTotal fixed maturities, equity securities and cash and cash equivalents at fair valueCommon stock [Member] | Fair Value, Measurements, Recurring [Member]Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]Total fixed maturities and equity securitiesCommon stock [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]Total fixed maturities and equity securitiesCommon stock [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member]Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]Total fixed maturities and equity securitiesCommon stock [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member]Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]Total fixed maturities and equity securitiesNonredeemable Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member]Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]Total fixed maturities and equity securities

Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]Total fixed maturities and equity securities


Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]

Nonredeemable Preferred Stock [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]



Total fixed maturities and equity securitiesEquity securities [Member] | Fair Value, Measurements, Recurring [Member]Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]Total fixed maturities and equity securitiesEquity securities [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]Total fixed maturities and equity securitiesEquity securities [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member]Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]Total fixed maturities and equity securitiesEquity securities [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member]Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]Total fixed maturities and equity securitiesFixed Maturities [Member] | Fair Value, Measurements, Recurring [Member]Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]Total fixed maturities and equity securitiesFixed Maturities [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]Total fixed maturities and equity securitiesFixed Maturities [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member]Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]Total fixed maturities and equity securitiesFixed Maturities [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member]Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]Total fixed maturities and equity securities








Fixed Maturities [Member] | U.S. Government and government agency obligations [Member] | Fair Value, Measurements, Recurring [Member]

Fixed Maturities [Member] | U.S. Government and government agency obligations [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]



Fixed Maturities [Member] | State and Local Government Obligations [Member] | Fair Value, Measurements, Recurring [Member]

Fixed Maturities [Member] | State and Local Government Obligations [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]


















Fixed Maturities [Member] | Residential mortgage-backed securities [Member] | Fair Value, Measurements, Recurring [Member]

Fixed Maturities [Member] | Residential mortgage-backed securities [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]



Fixed Maturities [Member] | Commercial mortgage-backed securities [Member] | Fair Value, Measurements, Recurring [Member]

Fixed Maturities [Member] | Commercial mortgage-backed securities [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]



Fixed Maturities [Member] | Corporate Obligations [Member] | Fair Value, Measurements, Recurring [Member]

Fixed Maturities [Member] | Corporate Obligations [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]



Fixed Maturities [Member] | Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member]

Fixed Maturities [Member] | Other Debt Obligations [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]









Fixed Maturities [Member] | Redeemable Preferred Stocks [Member] | Fair Value, Measurements, Recurring [Member]

Fixed Maturities [Member] | Redeemable Preferred Stocks [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]



Dec. 31, 2015 Dec. 31, 2014

$ 1,050,988

1,132,617 $ 1,059,974 71,944 53,583

1,204,561 1,113,557

82,793 82,445 71,944 53,583

154,737 136,028

1,019,681 959,064 0 0

1,019,681 959,064

30,143 18,465 0 0

30,143 18,465

56,692 62,827

53,584 58,839

806 0

2,302 3,988

24,937 22,401

20,868 16,887

4,069 5,514

0 0

81,629 85,228

74,452 75,726

4,875 5,514

2,302 3,988

1,050,988 974,746

8,341 6,719

1,014,806 953,550

27,841 14,477

151,303 113,446

4,179 2,911

147,124 110,535

0 0

316,372 341,581

0 0

311,351 338,694

5,021 2,887

157,403 192,555

0 0

157,403 192,555

0 0

14,368 16,998

0 0

14,368 16,998

0 0

201,521 199,414

0 0

194,045 192,314

7,476 7,100

205,361 106,449

0 0

190,515 102,454

14,846 3,995

4,660 4,303

4,162 3,808

0 0

$ 498 $ 495

Fair Value Measurements (Details 1) - USD ($) $ in Thousands

State and Local Government Obligations [Member]

Beginning balanceTotal gains (losses):Included in earningsIncluded in other comprehensive incomePurchases and issuancesSales, settlements and redemptionsTransfers in and/or (out) of Level 3Ending balance

Corporate Obligations [Member]


Other Debt Obligations [Member]


Redeemable Preferred Stocks [Member]


Reconciliation of beginning and ending balances for all investments measured on a recurring basis using Level 3 inputs

The amount of total gains (losses) for the year included in earnings and attributable to the change in unrealized gains (losses) relating to assets still held at the reporting date







Common stock [Member]


Nonredeemable Preferred Stock [Member]







$ 2,887 $ 859 $ 837

0 0 0 96 28 22

0 2,000 0 0 0 0

2,038 0 0 5,021 2,887 859

0 0 0

7,100 4,969 7,658

8 0 248 70 318 (137)

500 1,000 1,000 (202) (202) (3,800)

0 1,015 0 7,476 7,100 4,969

0 0 0

3,995 3,311 0

0 24 0 (301) (29) 0

11,819 1,500 0 (2,668) (811) 0 2,001 0 3,311

14,846 3,995 3,311 0 0 0

495 487 483

0 0 0 3 8 4 0 0 0 0 0 0 0 0 0

498 495 487 0 0 0

3,988 1,500 0

(278) 0 0 (600) (26) 0 158 2,514 1,500

0 0 0 (966) 0 0

2,302 3,988 1,500 (278) 0 0

$ 0 583 0

0 13 0 18 0 969

(583) (417)0 0 0 583

$ 0 $ 0

Fair Value Measurements (Details Textual) $ in Thousands

Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]Number of quotes per instrument, Level 3 securities (at least) | quoteOther investments tradedLevel 3 securities held | SecurityLevel 3 fair value securitiesLevel 3 investments, percent of shareholders' equityNonredeemable Preferred Stock [Member]Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]Fair Value, Assets, Level 1 to Level 2 Transfers, DescriptionFair Value, Assets, Level 2 to Level 1 Transfers, AmountFair Value, Assets, Level 1 to Level 2 Transfers, AmountFair Value, Assets, Level 2 to Level 1 Transfers, DescriptionCommon stock [Member]Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]Fair Value, Assets, Level 1 to Level 2 Transfers, DescriptionFair Value, Assets, Level 2 to Level 1 Transfers, AmountFair Value, Assets, Level 1 to Level 2 Transfers, AmountFair Value, Assets, Level 2 to Level 1 Transfers, DescriptionRedeemable Preferred Stocks [Member]Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]Fair Value, Assets, Level 1 to Level 2 Transfers, DescriptionFair Value, Assets, Level 2 to Level 1 Transfers, AmountFair Value, Assets, Level 1 to Level 2 Transfers, AmountFair Value, Assets, Level 2 to Level 1 Transfers, DescriptionLevel 2 [Member]Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]

Level 3 [Member]Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]Level 3 investments as a percentage of total investments

Level 2 securities valued based on non-binding broker quote and validated with other observable market data by management

12 Months EndedDec. 31, 2015USD ($)quoteSecurity Dec. 31, 2014USD ($) Dec. 31, 2013USD ($)

1 $ 47,891 $ 46,786

29 $ 30,100

8.00%

4 7 $ 1,500 $ 6,100 $ 3,800 $ 1,200 $ 5,900

4 7 8

1 $ 19 $ 1,700

$ 900 1 2

1 $ 200 $ 1,000 $ 200

1 1

$ 219,800

3.00%

Investments (Details) - USD ($) $ in Thousands Dec. 31, 2015 Dec. 31, 2014Available for sale fixed maturities and equity securitiesCost or Amortized Cost $ 1,038,230 Fair Value 1,050,988 U.S. Government and government agency obligations [Member]Available for sale fixed maturities and equity securitiesCost or Amortized Cost 149,402 $ 110,254 Gross Unrealized Gains 2,197 3,206 Gross Unrealized Losses (296) (14)Fair Value 151,303 113,446 State and local government obligations [Member]Available for sale fixed maturities and equity securitiesCost or Amortized Cost 305,625 329,725 Gross Unrealized Gains 10,927 12,193 Gross Unrealized Losses (180) (337)Fair Value 316,372 341,581 Residential mortgage-backed securities [Member]Available for sale fixed maturities and equity securitiesCost or Amortized Cost 153,191 185,346 Gross Unrealized Gains 5,407 8,435 Gross Unrealized Losses (1,195) (1,226)Fair Value 157,403 192,555 Commercial mortgage-backed securities [Member]Available for sale fixed maturities and equity securitiesCost or Amortized Cost 13,703 16,050 Gross Unrealized Gains 675 953 Gross Unrealized Losses (10) (5)Fair Value 14,368 16,998 Corporate Obligations [Member]Available for sale fixed maturities and equity securitiesCost or Amortized Cost 204,761 193,702 Gross Unrealized Gains 4,039 6,965 Gross Unrealized Losses (7,279) (1,253)Fair Value 201,521 199,414 Other Debt Obligations [Member]Available for sale fixed maturities and equity securitiesCost or Amortized Cost 207,034 106,711 Gross Unrealized Gains 384 278 Gross Unrealized Losses (2,057) (540)Fair Value 205,361 106,449 Redeemable Preferred Stocks [Member]Available for sale fixed maturities and equity securitiesCost or Amortized Cost 4,514 4,168 Gross Unrealized Gains 149 140 Gross Unrealized Losses (3) (5)Fair Value 4,660 4,303

Fixed Maturities [Member]Available for sale fixed maturities and equity securitiesCost or Amortized Cost 1,038,230 945,956 Gross Unrealized Gains 23,778 32,170 Gross Unrealized Losses (11,020) (3,380)Fair Value 1,050,988 974,746 Common stock [Member]Available for sale fixed maturities and equity securitiesCost or Amortized Cost 57,785 54,663 Gross Unrealized Gains 3,839 9,643 Gross Unrealized Losses (4,932) (1,479)Fair Value 56,692 62,827 Nonredeemable Preferred Stock [Member]Available for sale fixed maturities and equity securitiesCost or Amortized Cost 24,134 21,689 Gross Unrealized Gains 1,121 963 Gross Unrealized Losses (318) (251)Fair Value 24,937 22,401 Equity securities [Member]Available for sale fixed maturities and equity securitiesCost or Amortized Cost 81,919 76,352 Gross Unrealized Gains 4,960 10,606 Gross Unrealized Losses (5,250) (1,730)Fair Value 81,629 85,228 Total fixed maturities and equity securities [Member]Available for sale fixed maturities and equity securitiesCost or Amortized Cost 1,120,149 1,022,308 Gross Unrealized Gains 28,738 42,776 Gross Unrealized Losses (16,270) (5,110)Fair Value $ 1,132,617 $ 1,059,974

Investments (Details 1) $ in ThousandsInvestments, Debt and Equity Securities [Abstract]Fixed maturities fair value, Due in one year or lessFixed maturities amortized cost, Due in one year or lessFixed maturities amortized cost, Due after one year through five yearsFixed maturities fair value, Due after one year through five yearsFixed maturities amortized cost, Due after five years through ten yearsFixed maturities fair value, due after five years through ten yearsFixed maturities amortized cost, Due after ten yearsFixed maturities fair value, Due after ten yearsFixed maturities amortized cost, SubtotalFixed maturities fair value, SubtotalFixed maturities amortized cost, Mortgage-backed securitiesFixed maturities fair value, Mortgage-backed securitiesCost or Amortized CostFair Value

Dec. 31, 2015USD ($)

$ 36,226 35,903

373,783 375,561 384,313 387,039

77,337 80,391

871,336 879,217 166,894 171,771

1,038,230 $ 1,050,988

Investments (Details 2) - USD ($) $ in Thousands

Other invested assets, net (losses) gainsNet realized (losses) gains on investmentsFixed Maturities [Member]

Gross gainsGross lossesEquity securities [Member]

Gross gainsGross losses

[1]

Gross realized gains and losses on the sale of available for sale fixed maturity and equity security investments




[1]



$ (1,670) $ 3,310 $ 1,514 (3,278) 6,758 6,536

854 1,352 3,495 (2,661) (262) (602)

6,430 4,404 2,375 $ (6,231) $ (2,046) $ (246)



Realized - ImpairmentsFixed Maturities [Member]

Realized before impairmentsRealized - ImpairmentsChange In unrealizedEquity Securities [Member]

Realized before impairmentsRealized - ImpairmentsChange In unrealizedOther Invested Assets [Member]

Realized before impairmentsRealized - ImpairmentsChange In unrealizedTax Effects [Member]

Realized before impairmentsRealized - ImpairmentsChange In unrealizedMarketable Securities [Member]

Realized before impairmentsRealized - ImpairmentsChange In unrealized

Realized gains (losses) and changes in unrealized appreciation (depreciation) related to fixed maturity and equity security investments







$ (7,762) $ (1,963) $ (155)

189 1,352 2,900 (1,996) (262) (7)

(16,032) 9,360 (25,271)

5,965 4,059 2,277 (5,766) (1,701) (148)(9,166) (1,357) 6,266

(1,670) 3,310 1,514 0 0 0 0 0 0

(1,569) (3,052) (2,342)(2,717) (687) (54)8,820 (2,801) 6,652

2,915 5,669 4,349 (5,045) (1,276) (101)

$ (16,378) $ 5,202 $ (12,353)

Investments (Details 4) $ in ThousandsAvailable for sale securities in a continuous unrealized loss positionFair Value - Less than twelve monthsUnrealized Loss - Less than twelve monthsFair Value as % of Cost - Less than twelve monthsNumber of holdings, Less than twelve months | HoldingsFair Value - Twelve months or moreUnrealized Loss - Twelve months or moreFair Value as % of Cost - Twelve months or moreNumber of holdings, Twelve months or more | HoldingsU.S. Government and government agency obligations [Member]Available for sale securities in a continuous unrealized loss positionFair Value - Less than twelve monthsUnrealized Loss - Less than twelve monthsFair Value as % of Cost - Less than twelve monthsNumber of holdings, Less than twelve months | HoldingsFair Value - Twelve months or moreUnrealized Loss - Twelve months or moreFair Value as % of Cost - Twelve months or moreNumber of holdings, Twelve months or more | HoldingsState and Local Government Obligations [Member]Available for sale securities in a continuous unrealized loss positionFair Value - Less than twelve monthsUnrealized Loss - Less than twelve monthsFair Value as % of Cost - Less than twelve monthsNumber of holdings, Less than twelve months | HoldingsFair Value - Twelve months or moreUnrealized Loss - Twelve months or moreFair Value as % of Cost - Twelve months or moreNumber of holdings, Twelve months or more | HoldingsResidential mortgage-backed securities [Member]Available for sale securities in a continuous unrealized loss positionFair Value - Less than twelve monthsUnrealized Loss - Less than twelve monthsFair Value as % of Cost - Less than twelve monthsNumber of holdings, Less than twelve months | HoldingsFair Value - Twelve months or moreUnrealized Loss - Twelve months or moreFair Value as % of Cost - Twelve months or moreNumber of holdings, Twelve months or more | HoldingsCommercial mortgage-backed securities [Member]Available for sale securities in a continuous unrealized loss positionFair Value - Less than twelve monthsUnrealized Loss - Less than twelve monthsFair Value as % of Cost - Less than twelve monthsNumber of holdings, Less than twelve months | Holdings

Fair Value - Twelve months or moreUnrealized Loss - Twelve months or moreFair Value as % of Cost - Twelve months or moreNumber of holdings, Twelve months or more | HoldingsCorporate Obligations [Member]Available for sale securities in a continuous unrealized loss positionFair Value - Less than twelve monthsUnrealized Loss - Less than twelve monthsFair Value as % of Cost - Less than twelve monthsNumber of holdings, Less than twelve months | HoldingsFair Value - Twelve months or moreUnrealized Loss - Twelve months or moreFair Value as % of Cost - Twelve months or moreNumber of holdings, Twelve months or more | HoldingsOther Debt Obligations [Member]Available for sale securities in a continuous unrealized loss positionFair Value - Less than twelve monthsUnrealized Loss - Less than twelve monthsFair Value as % of Cost - Less than twelve monthsNumber of holdings, Less than twelve months | HoldingsFair Value - Twelve months or moreUnrealized Loss - Twelve months or moreFair Value as % of Cost - Twelve months or moreNumber of holdings, Twelve months or more | HoldingsRedeemable Preferred Stocks [Member]Available for sale securities in a continuous unrealized loss positionFair Value - Less than twelve monthsUnrealized Loss - Less than twelve monthsFair Value as % of Cost - Less than twelve monthsNumber of holdings, Less than twelve months | HoldingsFair Value - Twelve months or moreUnrealized Loss - Twelve months or moreFair Value as % of Cost - Twelve months or moreNumber of holdings, Twelve months or more | HoldingsFixed Maturities [Member]Available for sale securities in a continuous unrealized loss positionFair Value - Less than twelve monthsUnrealized Loss - Less than twelve monthsFair Value as % of Cost - Less than twelve monthsNumber of holdings, Less than twelve months | HoldingsFair Value - Twelve months or moreUnrealized Loss - Twelve months or moreFair Value as % of Cost - Twelve months or moreNumber of holdings, Twelve months or more | HoldingsCommon stock [Member]Available for sale securities in a continuous unrealized loss position

Fair Value - Less than twelve monthsUnrealized Loss - Less than twelve monthsFair Value as % of Cost - Less than twelve monthsNumber of holdings, Less than twelve months | HoldingsFair Value - Twelve months or moreUnrealized Loss - Twelve months or moreFair Value as % of Cost - Twelve months or moreNumber of holdings, Twelve months or more | HoldingsNonredeemable Preferred Stock [Member]Available for sale securities in a continuous unrealized loss positionFair Value - Less than twelve monthsUnrealized Loss - Less than twelve monthsFair Value as % of Cost - Less than twelve monthsNumber of holdings, Less than twelve months | HoldingsFair Value - Twelve months or moreUnrealized Loss - Twelve months or moreFair Value as % of Cost - Twelve months or moreNumber of holdings, Twelve months or more | HoldingsEquity securities [Member]Available for sale securities in a continuous unrealized loss positionFair Value - Less than twelve monthsUnrealized Loss - Less than twelve monthsFair Value as % of Cost - Less than twelve monthsNumber of holdings, Less than twelve months | HoldingsFair Value - Twelve months or moreUnrealized Loss - Twelve months or moreFair Value as % of Cost - Twelve months or moreNumber of holdings, Twelve months or more | Holdings

Dec. 31, 2015USD ($)Holdings Dec. 31, 2014USD ($)Holdings

$ 332,082 $ 140,305 $ (13,318) $ (3,107)

96.10% 97.80%350 156

$ 45,700 $ 72,565 $ (2,952) $ (2,003)

93.90% 97.30%55 66

$ 45,631 $ 11,750 $ (296) $ (13)

99.40% 99.90%22 7

$ 0 $ 49 $ 0 $ (1)

0.00% 98.00%0 1

$ 15,498 $ 18,100 $ (137) $ (166)

99.10% 99.10%15 14

$ 1,627 $ 6,110 $ (43) $ (171)

97.40% 97.30%3 6

$ 23,502 $ 19,344 $ (318) $ (140)

98.70% 99.30%28 19

$ 28,426 $ 38,163 $ (877) $ (1,086)

97.00% 97.20%31 34

$ 440 $ 848 $ (1) $ (4)

99.80% 99.50%1 1

$ 495 $ 776 $ (9) $ (1)

98.20% 99.90%1 1

$ 75,756 $ 21,230 $ (5,660) $ (974)

93.00% 95.60%99 33

$ 3,658 $ 10,874 $ (1,619) $ (279)

69.30% 97.50%5 7

$ 138,531 $ 50,733 $ (1,860) $ (273)

98.70% 99.50%131 54

$ 8,201 $ 13,291 $ (197) $ (267)

97.70% 98.00%11 13

$ 344 $ 0 $ (1) $ 0

99.70% 0.00%1 0

$ 498 $ 495 $ (2) $ (5)

99.60% 99.00%1 1

$ 299,702 $ 122,005 $ (8,273) $ (1,570)

97.30% 98.70%297 128

$ 42,905 $ 69,758 $ (2,747) $ (1,810)

94.00% 97.50%52 63

$ 26,993 $ 13,379 $ (4,932) $ (1,479)

84.60% 90.00%42 19

$ 0 $ 0 $ 0 $ 0

0.00% 0.00%0 0

$ 5,387 $ 4,921 $ (113) $ (58)

97.90% 98.80%11 9

$ 2,795 $ 2,807 $ (205) $ (193)

93.20% 93.60%3 3

$ 32,380 $ 18,300 $ (5,045) $ (1,537)

86.50% 92.30%53 28

$ 2,795 $ 2,807 $ (205) $ (193)

93.20% 93.60%3 3


Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward]Beginning balance at January 1Additional credit impairments on:Reductions - disposalsEnding balance at December 31Fixed Maturities [Member]Additional credit impairments on:Previously impaired securitiesSecurities without prior impairment


$ 2,368 $ 2,183 $ 2,282

(29) (45) (99)2,391 2,368 2,183

15 230 0 $ 37 $ 0 $ 0

Investments (Details 6) - USD ($) $ in Thousands12 Months Ended

Dec. 31, 2015 Dec. 31, 2014Investment income:Total investment income $ 40,986 $ 36,699 Investment expense (1,247) (1,182)Net investment income 39,739 35,517 Equity Securities [Member]Investment income:Total investment income 4,480 3,179 Short-term investments and cash equivalents [Member]Investment income:Total investment income 8 4 Fixed Maturities [Member]Investment income:Total investment income $ 36,498 $ 33,516


$ 34,761 (1,384)33,377

2,003

5

$ 32,753

Investments (Details Textual) $ in Thousands

Schedule of Available-for-sale Securities [Line Items]Net realized (losses) gains on investmentsUnfunded Commitments To Limited PartnershipsOther investments tradedNon-credit related portion of OTTI charges taken for securities still ownedAverage life of mortgage-backed securitiesNet realized gain from sale of securitiesOther invested assets, net (losses) gainsOther-than-temporary impairment chargesGross Unrealized LossesUnrealized Loss - Less than twelve monthsUnrealized Loss - Twelve months or moreInvested assets with state regulatory authoritiesNonredeemable Preferred Stock [Member]Schedule of Available-for-sale Securities [Line Items]Gross Unrealized LossesUnrealized Loss - Less than twelve monthsUnrealized Loss - Twelve months or moreCommon stock [Member]Schedule of Available-for-sale Securities [Line Items]Gross Unrealized LossesUnrealized Loss - Less than twelve monthsUnrealized Loss - Twelve months or moreResidential mortgage-backed securities [Member]Schedule of Available-for-sale Securities [Line Items]Gross Unrealized LossesUnrealized Loss - Less than twelve monthsLess than 12 months, Number of securities | Holdings12 months or more, Number of securities | HoldingsUnrealized Loss - Twelve months or moreCorporate Debt Securities [Member]Schedule of Available-for-sale Securities [Line Items]Gross Unrealized Losses

Unrealized Loss - Less than twelve monthsLess than 12 months, Number of securities | Holdings12 months or more, Number of securities | HoldingsUnrealized Loss - Twelve months or moreCommercial mortgage-backed securities [Member]Schedule of Available-for-sale Securities [Line Items]Unrealized Loss - Less than twelve monthsUnrealized Loss - Twelve months or moreState and local government obligations [Member]Schedule of Available-for-sale Securities [Line Items]

Percentage based on unrealized loss of available for sale fixed maturities that are in an unrealized loss position and rated investment grade

Fixed maturity portfolio percentageAmount of special revenue obligationsSpecial revenue obligations as a percentage of state and local government obligationsSecurities considered as investment grade percentageObligations exceeding 10% threshold | Holdings

Unrealized Loss - Less than twelve monthsUnrealized Loss - Twelve months or moreOther Debt Obligations [Member]Schedule of Available-for-sale Securities [Line Items]Gross Unrealized Losses

Unrealized Loss - Less than twelve monthsLess than 12 months, Number of securities | Holdings12 months or more, Number of securities | HoldingsUnrealized Loss - Twelve months or moreRedeemable Preferred Stocks [Member]Schedule of Available-for-sale Securities [Line Items]Unrealized Loss - Less than twelve monthsUnrealized Loss - Twelve months or moreFixed Maturities [Member]Schedule of Available-for-sale Securities [Line Items]Gross Unrealized Losses

Unrealized Loss - Less than twelve monthsUnrealized Loss - Twelve months or moreAdditional charges for other-than-temporary impairments

[1]

Percentage threshold of state and local government obligations not exceeded by one individual state, municipality, or political subdivision



Investments (Details Textual) $ in Thousands

[1]


12 Months EndedDec. 31, 2015USD ($)Holdings Dec. 31, 2014USD ($) Dec. 31, 2013USD ($)

$ (3,278) $ 6,758 $ 6,536 14,800 47,891 46,786

$ 3,300 0 3 years 10 months

$ 6,200 5,400 5,200 (1,670) 3,310 1,514 7,800 2,000 200

16,300 5,100 13,318 3,107

2,952 2,003 119,400 104,800

300 113 58 205 193

4,900 4,932 1,479

0 0

1,200 $ 318 140

31 28

$ 877 1,086

$ 7,300 75.20%

$ 5,660 974 5

99 $ 1,619 279

1 4 $ 9 1

30.10% $ 275,500

87.10%98.90%

0 10.00%

$ 137 166 43 171

$ 2,100 99.40%

$ 1,860 273 11

131 $ 197 267

1 0 2 5

$ 11,000 88.80%

$ 8,273 1,570 2,747 1,810 $ 15 $ 230 $ 0

Consists of the following: Net realized gains before impairment losses, Total losses on securities with impairment charges, Non-credit portion recognized in

Long-term Debt (Details) - USD ($)

Debt Instrument [Line Items]Long-term debt, outstandingUnsecured Credit AgreementRevised unsecured Credit AgreementUnsecured Credit Agreement Maximum ValuePercentage of adjusted LIBOR rate plusCommitment fee percentage spreadInterest paid on debtLine of Credit Facility, Expiration DateCommitment fee percentage standardMinimum [Member]Debt Instrument [Line Items]Commitment fee percentage standardMaximum [Member]Debt Instrument [Line Items]Commitment fee percentage standardLIBOR [Member]Debt Instrument [Line Items]Excess adjusted LIBOR rateDebt Instrument, Basis Spread on Variable Rate, TermVariable interest rate basisNumber of months used to derive LIBOR ratePercentage of interest rate in excess of one month adjusted LIBOR rateInterest payments due quarterlyFederal Funds Effective Rate [Member]Debt Instrument [Line Items]Percentage in excess of federal funds effective rate amounts can bear interestLetter of Credit [Member]Debt Instrument [Line Items]Sublimit for Letters of CreditLetter of Credit [Member] | LIBOR [Member] | Minimum [Member]Debt Instrument [Line Items]Adjusted LIBOR rate plus an applicable marginLetter of Credit [Member] | LIBOR [Member] | Maximum [Member]Debt Instrument [Line Items]Adjusted LIBOR rate plus an applicable margin


$ 12,000,000 $ 12,000,000 50,000,000

100,000,000 $ 125,000,000

87.50%0.075% to 0.125%

$ 200,000 $ 100,000 $ 200,000

0.10%

0.075%

1.00%

1.00%6 months0.524%P1M1.00%six-month LIBOR plus 87.5

0.50%

$ 10,000,000

0.75%

1.00%

Nov. 30,2017

Income Taxes (Details) - USD ($) $ in Thousands12 Months Ended

Dec. 31, 2015 Dec. 31, 2014Components of Income Tax Expense (Benefit) [Abstract]Current federal income tax provision $ 8,142 $ 1,014 Current state income tax provision 360 265 Deferred federal income tax (benefit) expense (1,865) (540)Provision for income taxes $ 6,637 $ 739


$ 3,350 232 537

$ 4,119

Income Taxes (Details 1) - USD ($) $ in Thousands

Income taxes at the statutory rate and income taxes shown in the Statements of IncomeFederal income tax expense at statutory rateEffect of:Tax-exempt investment incomeOther items, netProvision for income taxes


$ 9,619 $ 4,118 $ 7,592

(3,305) (3,569) (3,829)323 190 356

$ 6,637 $ 739 $ 4,119

Income Taxes (Details 2) - USD ($) $ in Thousands Dec. 31, 2015 Dec. 31, 2014Deferred tax assets:Unearned premiums $ 19,959 $ 18,442 Unpaid losses and loss adjustment expenses 18,687 19,609 Assessments and fees payable 1,576 1,491 Realized losses on investments, primarily impairments 5,147 4,138 Accrued compensation 1,959 1,897 Limited partnership investments 61 0 Other, net 2,185 2,548 Total deferred tax assets 49,574 48,125 Deferred tax liabilities:Deferred policy acquisition costs (7,793) (7,929)Unrealized gains on investments (4,363) (13,183)Intangible assets (2,678) (2,727)Limited Partnership Investments 0 (236)Prepaid Expenses (279) 0 Other, net (626) (900)Total deferred tax liabilities (15,739) (24,975)Net deferred tax assets $ 33,835 $ 23,150

Income Taxes (Details Textual) - USD ($)12 Months Ended

Dec. 31, 2015 Dec. 31, 2014 Dec. 31, 2013Income Taxes (Textual) [Abstract]Statutory rate of income taxes 35.00%Federal income taxes paid $ 6,200,000 $ 2,500,000 $ 16,200,000 Income Taxes Receivable 1,400,000 900,000 Unrecognized tax benefits liabilities $ 0 $ 0

Share-Based Compensation (Details) $ / shares in Units, $ in Thousands

Summary of stock option activityOptions outstanding at the beginning of the period (in shares) | sharesExpired (in shares) | sharesExercised (in shares) | sharesOptions outstanding at the end of the period (in shares) | sharesOptions outstanding, exercisable ("vested") (in shares) | sharesBeginning balance, weighted average exercise price | $ / sharesOptions expired, weighted average exercise price | $ / sharesOption exercised, weighted average exercise price | $ / sharesEnding balance, weighted average exercise price | $ / sharesOptions exercisable, weighted average exercise price | $ / sharesWeighted average remaining contractual term, outstanding (in years)Aggregate intrinsic value of options outstanding | $Weighted average remaining contractual term, exercisable ("vested") (in years)Aggregate intrinsic value of options exercisable | $

12 Months EndedDec. 31, 2015USD ($)$ / sharesshares

286,853 (3,000)

(103,853)180,000 116,000 $ 22.15

13.50 18.82 24.22

$ 23.96 5 years 6 months

$ 447 5 years 1 month 7 days

$ 318

Share-Based Compensation (Details 1) - $ / shares12 Months Ended

Dec. 31, 2015Summary of nonvested share activityNonvested shares at the beginning of period (in shares) 64,320 Granted (in shares) 15,555 Vested (in shares) (12,000)Forfeited (in shares) (4,321)Nonvested shares at the ending of period (in shares) 63,554 Beginning balance, nonvested, weighted average exercise price $ 29.63 Options granted, weighted average grant date fair value 29.80 Options vested, weighted average grant date fair value 32.11 Options forfeited, weighted average grant date fair value 27.79 Ending balance, weighted average grant date fair value $ 29.32

12 Months EndedDec. 31, 2014 Dec. 31, 2013

18,885 12,543

64,320

$ 29.63

Share-Based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions

Restricted Stocks Granted (in shares)Intrinsic value of shares granted in period per share amountOptions Granted (in shares)Share-Based Compensation (Textual) [Abstract]Number of options outstandingCommon stock reserved for issuance under stock incentive plansTotal compensation expense related to stock incentive plansTax benefit related to compensation costsIntrinsic value of options exercisedFair value of options vested in periodTotal fair value of shares vestedEmployee Stock Option [Member]

Compensation cost not yet recognizedRestricted Stock [Member]

Compensation cost not yet recognizedStock option awards [Member]

Period for recognition compensation cost not yet recognizedNonvested shares [Member]

Period for recognition compensation cost not yet recognized

Schedule of Unrecognized Compensation Cost Nonvested Options and Restricted Stock Awards [Line Items]






15,555 18,885 12,543 $ 23 $ 32.33

0 0 0

180,000 286,853 745,389

$ 0.8 $ 0.6 $ 0.6 0.2 0.2 0.2 0.9 1.1 0.6 0.2 0.3 0.4 0.4 $ 0.3 $ 0.3

0.3

$ 0.8

1 year 6 months

1 year 6 months

Employee Benefit Plan (Details Textual) - USD ($) $ in Millions

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]Profit sharing expenseCost RecognizedOn First 3 Percent [Member]Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]Employer Matching Contribution, Percent of MatchOn Next 3 Percent [Member]Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]Employer Matching Contribution, Percent of MatchOf 100 Percent [Member]Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]Employer Matching Contribution, Percent of Employees' Gross PayOf 50 Percent [Member] [Member]Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]Employer Matching Contribution, Percent of Employees' Gross Pay


$ 0.1 $ 1 $ 1 $ 0.6 $ 0

100.00%

50.00%

3.00%

3.00%

Computation of basic and diluted net income per shareNet incomeWeighted average shares outstanding during period

Weighted average shares outstanding assuming exercise of stock optionsNet income per share:Basic (in dollars per share)Diluted (in dollars per share)

[1][2]

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands

Additional shares issuable under employee common stock option plans using treasury stock method


$ 1,951

$ 0.10 $ 0.10

During the second quarter of 2014, the Company experienced an increase in adverse prior year development.Earnings per share are computed independently for each quarter and the full year based upon respective average shares outstanding. Therefore, the sum of the quarterly earnings per share amounts may not equal the annual amounts reported.

3 Months EndedSep. 30, 2015 Jun. 30, 2015 [1] Mar. 31, 2015 Dec. 31, 2014 Sep. 30, 2014

$ 5,145 $ 6,642 $ 7,109 $ 4,921 $ 8,793

$ 0.26 $ 0.33 $ 0.36 $ 0.25 $ 0.44 $ 0.26 $ 0.33 $ 0.36 $ 0.25 $ 0.44


3 Months Ended 12 Months EndedJun. 30, 2014 [1] Mar. 31, 2014 Dec. 31, 2015 Dec. 31, 2014 Dec. 31, 2013

$ (10,743) $ 8,055 $ 20,847 $ 11,026 $ 17,573 19,862 19,755 19,645

48 78 123 19,910 19,833 19,768

$ (0.54) $ 0.41 $ 1.05 [2] $ 0.56 [2] $ 0.89 $ (0.54) $ 0.41 $ 1.05 [2] $ 0.56 [2] $ 0.89


Earnings Per Common Share (Details Textual) - shares

Earnings Per Share [Abstract]Antidilutive outstanding options and restricted shares excluded from diluted earnings per share


97,870 97,870 100,000

Transactions with Related Parties (Details) - USD ($) $ in Thousands12 Months Ended

Dec. 31, 2015Related Party Transaction [Line Items]Assumed premiums written $ 18,629 Assumed premiums earned 17,349 Ceded premiums written 119,693 Ceded premiums earned 115,529 Ceded losses and loss adjustment expense recoveries 55,000 Great American Insurance Company [Member]Related Party Transaction [Line Items]Assumed premiums written 280 Assumed premiums earned 415 Assumed losses and loss adjustment expense incurred 36 Ceded premiums written 4 Ceded premiums earned 29 Ceded losses and loss adjustment expense recoveries 467 Payable to Great American as of year end $ 3


$ 12,182 $ 10,461 11,786 10,129

113,429 94,389 104,283 89,092

60,800 66,600

566 1,725 1,024 2,134

796 2,426 68 51 66 54

862 1,959 $ 56 $ 103

Transactions with Related Parties (Details Textual) - USD ($) $ in Thousands

Related Party Transaction [Line Items]Percentage of investment portfolio managed by related partyTransactions with Related Parties (Textual) [Abstract]Percentage of outstanding shares owned by parent companyBasis point of Company's investment portfolio costFees accrued for servicesTransaction expenseDirector [Member]Transactions with Related Parties (Textual) [Abstract]Transaction expense


58.00%

51.10%0.15%

$ 1,000 $ 900 $ 900 $ 0 2,163 $ 0

$ 600

Reinsurance (Details) - USD ($) $ in Thousands12 Months Ended

Dec. 31, 2015 Dec. 31, 2014Schedule of premiums and reinsurance activityDirect premiums written $ 708,490 $ 676,821 Reinsurance assumed 18,629 12,182 Reinsurance ceded (119,693) (113,429)Net premiums written 607,426 575,574 Direct premiums earned 683,967 649,764 Reinsurance assumed 17,349 11,786 Reinsurance ceded (115,529) (104,283)Total premiums earned 585,787 557,267 Reinsurance recoverable $ 230,346 $ 180,332


$ 621,532 10,461

(94,389)537,604 604,673

10,129 (89,092)525,710

$ 169,210

Reinsurance (Details Textual) - USD ($) $ in Millions12 Months Ended

Dec. 31, 2015 Dec. 31, 2014Reinsurance (Textual) [Abstract]Ceded losses and loss adjustment expense recoveries $ 55 $ 60.8


$ 66.6

Unpaid Losses and LAE (Details) - USD ($) $ in Thousands

Reserve for losses and LAE, net of related reinsurance recoverables, at beginning of yearProvision for unpaid losses and LAE for claims net of reinsurance, occurring during:Current yearPrior yearsTotal provision for unpaid losses and LAE for claims net of reinsuranceLosses and LAE payments for claims, net of reinsurance, occurring during:Current yearPrior yearsTotal PaymentsEffect on loss and LAE expenses relating to changes in guaranteed reservesReserve for losses and LAE, net of related reinsurance recoverables, at end of yearReinsurance recoverable on unpaid losses and LAE, at end of yearReserve for unpaid losses and LAE, gross of reinsurance recoverables

Reconciliation of the beginning and ending liability for unpaid losses and loss adjustment expense


$ 713,635 $ 647,339 $ 607,604

457,516 436,400 406,483 14,424 30,598 23,073

471,940 466,998 429,556

123,480 124,049 128,052 272,712 276,653 240,981 396,192 400,702 369,033

7,001 0 (20,788)796,384 713,635 647,339 217,811 169,443 156,443

$ 1,014,195 $ 883,078 $ 803,782

Unpaid Losses and LAE (Details Textual) - USD ($) $ in Thousands

Unpaid Losses and LAE (Textual) [Abstract]Increase decrease in claimsEffect on loss and LAE expenses relating to the reduction in guaranteed reservesReserves for losses and loss adjustment expenses


$ 14,424 $ 30,598 $ 23,073 7,001 0 (20,788)

$ 9,700 $ 20,000 $ 6,000

Expense on Amounts Withheld (Details) - USD ($) $ in Thousands

Expense on amounts withheld related to ART programsInvestment balance related to ART programs

Disclosure of investment income and expense on amounts withheld related to alternative risk transfer programs


$ 6,458 $ 6,410 $ 5,057 $ 278,903 $ 231,140 $ 196,821

Statutory Accounting Principles (Details) - USD ($) $ in Thousands12 Months Ended

Dec. 31, 2015NIIC [Member]Statutory Accounting Capital and Surplus and Net IncomeStatutory capital and surplus $ 295,596 Statutory net income 12,548 VIC [Member]Statutory Accounting Capital and Surplus and Net IncomeStatutory capital and surplus 130,796 Statutory net income 4,975 NIIC-HI [Member]Statutory Accounting Capital and Surplus and Net IncomeStatutory capital and surplus 12,706 Statutory net income 348 TCC [Member]Statutory Accounting Capital and Surplus and Net IncomeStatutory capital and surplus 19,099 Statutory net income $ 851


$ 284,680 $ 283,419 5,355 21,925

127,260 121,918 4,940 9,466

12,166 11,292 181 673

18,450 17,633 $ 823 $ 1,170

Statutory Accounting Principles (Details Textual) - USD ($) $ in Millions

Statutory Accounting Practices [Line Items]Dividends paid to parent companyNIIC [Member]Statutory Accounting Practices [Line Items]

Amount available for dividend distribution without prior approval from regulatory agencyVIC [Member]Statutory Accounting Practices [Line Items]

Amount available for dividend distribution without prior approval from regulatory agencyNIIC-HI [Member]Statutory Accounting Practices [Line Items]

Amount available for dividend distribution without prior approval from regulatory agencyTCC [Member]Statutory Accounting Practices [Line Items]

Amount available for dividend distribution without prior approval from regulatory agency

Amount available for dividend distribution without prior approval from regulatory agency percentage of surplus





$ 0 $ 10 $ 10

10.00% $ 29.6

10.00% $ 13.1

10.00% $ 1.9

10.00% $ 1.3

Commitments and Contingencies (Details) - USD ($) $ in Thousands Dec. 31, 2015Commitments and Contingencies (Textual) [Abstract]Liability for insurance related assessment $ 5,001 Unfunded Commitments To Limited Partnerships $ 14,800

Dec. 31, 2014

$ 4,649

Segment Information (Details) - USD ($) $ in Thousands

Revenues:Premiums earnedNet investment incomeNet realized (losses) gains on investmentsOtherTotal revenuesAlternative Risk Transfer [Member]Revenues:Premiums earnedTransportation [Member]Revenues:Premiums earnedSpecialty Personal Lines [Member]Revenues:Premiums earnedHawaii and Alaska [Member]Revenues:Premiums earnedOther [Member]Revenues:Premiums earned

[1][2]

Segment Information (Details) - USD ($) $ in Thousands

[1]

Consists of the following: Net realized gains before impairment losses, Total losses on securities with impairment charges, Non-credit portion recognized in other comprehensive income, Net impairment charges recognized in earnings.During the second quarter of 2014, the Company experienced an increase in adverse prior year development.

3 Months EndedDec. 31, 2015 Sep. 30, 2015 Jun. 30, 2015 [2] Mar. 31, 2015 Dec. 31, 2014

$ 162,690 $ 158,620 $ 155,037 $ 149,378 $ 154,894


3 Months Ended 12 Months EndedSep. 30, 2014 Jun. 30, 2014 [2] Mar. 31, 2014 Dec. 31, 2015 Dec. 31, 2014

$ 585,787 $ 557,267 39,739 35,517 (3,278) 6,758 3,477 3,399

$ 152,702 $ 149,775 $ 145,570 625,725 602,941

321,262 300,922

195,960 191,482

30,718 35,086

19,602 18,009

$ 18,245 $ 11,768



$ 525,710 33,377

6,536 3,303

568,926

283,725

172,367

45,311

15,357

$ 8,950

Segment Information Segment Information (Details Textual)12 Months Ended

Dec. 31, 2015SegmentSegment Reporting [Abstract]Number of reportable segments 1

Quarterly Operating Results (Unaudited)(Details) - USD ($) $ / shares in Units, $ in Thousands

Quarterly Operating Results (Unaudited)RevenuesNet incomeNet income per share – basic (in dollars per share)Net income per share – diluted (in dollars per share)

[1][2]


$ 162,690 $ 1,951

$ 0.10 $ 0.10



$ 158,620 $ 155,037 $ 149,378 $ 154,894 $ 152,702 $ 5,145 $ 6,642 $ 7,109 $ 4,921 $ 8,793

$ 0.26 $ 0.33 $ 0.36 $ 0.25 $ 0.44 $ 0.26 $ 0.33 $ 0.36 $ 0.25 $ 0.44



$ 149,775 $ 145,570 $ 625,725 $ 602,941 $ 568,926 $ (10,743) $ 8,055 $ 20,847 $ 11,026 $ 17,573

$ (0.54) $ 0.41 $ 1.05 [2] $ 0.56 [2] $ 0.89 $ (0.54) $ 0.41 $ 1.05 [2] $ 0.56 [2] $ 0.89


Accumulated Other Comprehensive Income (Loss) [Roll Forward]Accumulated Other Comprehensive Income (Loss), beginning balanceNet unrealized losses and gains on available-for-sale securities:Accumulated Other Comprehensive Income (Loss), ending balanceAccumulated Other Comprehensive Income (Loss) [Member]Accumulated Other Comprehensive Income (Loss) [Roll Forward]Accumulated Other Comprehensive Income (Loss), beginning balanceNet unrealized losses and gains on available-for-sale securities:Net unrealized holding (losses) gains on securities arising during the period, net of taxReclassification adjustment for net realized losses (gains) included in net income, net of taxOther comprehensive (loss) income, net of taxAccumulated Other Comprehensive Income (Loss), ending balance

Accumulated Other Comprehensive Income, Net of Tax ("AOCI") Accumulated Other Comprehensive Income, Net of Tax ("AOCI") (Details) - USD ($) $ in Thousands


$ 24,483

8,105 $ 24,483

24,483 19,281 $ 31,634

(17,423) 8,186 (9,584)1,045 (2,984) (2,769)

(16,378) 5,202 (12,353) $ 8,105 $ 24,483 $ 19,281

Accumulated Other Comprehensive Income (Loss) [Line Items](Decrease) Increase to (benefit) provision for income taxesReclassification out of Accumulated Other Comprehensive Income [Member]Accumulated Other Comprehensive Income (Loss) [Line Items](Decrease) Increase to income before income taxes(Decrease) Increase to (benefit) provision for income taxes(Decrease) Increase to net income

Accumulated Other Comprehensive Income (Loss) [Line Items](Decrease) Increase to net realized (losses) gains on investments

Accumulated Other Comprehensive Income, Net of Tax ("AOCI") (Details 1) - USD ($) $ in Thousands

Accumulated Net Unrealized Investment Gain (Loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]


$ 6,637 $ 739 $ 4,119

(1,608) 4,590 4,260 (563) 1,606 1,491

(1,045) 2,984 2,769

$ (1,608) $ 4,590 $ 4,260

Subsequent Events Subsequent Events (Detailed Textual) - $ / shares Mar. 07, 2016Subsequent Event [Line Items]Percentage Of Interest In CompanySubsequent Event [Member]Subsequent Event [Line Items]Subsequent Event, DateTender Offer Price Per Share $ 30 Percentage Of Interest In Company 51.00%Great American Insurance Company [Member] | Subsequent Event [Member]Subsequent Event [Line Items]Number Of Shares Beneficially Qwned By Stockholder 10,200,000

Mar. 7,2016

Dec. 31, 2015

51.10%

Condensed Financial Information of Parent Company (Details) - USD ($) $ in Thousands

Investments:Fixed maturities available-for-sale, at fair value (cost of $1,930 and $5,934, respectively)Equity securities available-for-sale, at fair value (cost of $0 and $21, respectively)Total investmentsCash and cash equivalentsProperty and equipment, netOther assetsTotal assetsLiabilities:Long-term debtTotal liabilitiesShareholders’ equity:Preferred shares no par value Authorized 10,000 shares Issued - 0 shares

Additional paid-in capitalRetained earningsAccumulated other comprehensive incomeTreasury sharesTotal shareholders’ equityTotal liabilities and shareholders’ equityRevenues:Net investment incomeTotal revenuesExpenses:Interest expenseTotal expensesLoss before income taxes and equity in undistributed income of subsidiariesProvision for income taxesEquity in undistributed income of subsidiaries, net of taxNet incomeOperating activitiesNet income (loss)Net cash provided by operating activitiesInvesting activitiesCapital expendituresNet cash used in investing activitiesFinancing activitiesNet tax effect from exercise/vesting of stock-based compensationProceeds from the issuance of common shares from treasuryCash dividends paid on common sharesNet cash used in financing activitiesNet decrease in cash and cash equivalentsCash and cash equivalents at beginning of yearCash and cash equivalents at end of year

Common shares - $0.01 par value Authorized 50,000 shares Issued 23,350 shares, including 3,441 and 3,557 shares, respectively, in treasury

Parent Company [Member]ASSETSInvestment in subsidiariesInvestments:Fixed maturities available-for-sale, at fair value (cost of $1,930 and $5,934, respectively)Equity securities available-for-sale, at fair value (cost of $0 and $21, respectively)Total investmentsReceivable from subsidiaryCash and cash equivalentsProperty and equipment, netOther assetsTotal assetsLiabilities:Long-term debtOther liabilitiesTotal liabilitiesShareholders’ equity:Preferred shares no par value Authorized 10,000 shares Issued - 0 shares

Additional paid-in capitalRetained earningsAccumulated other comprehensive incomeTreasury sharesTotal shareholders’ equityTotal liabilities and shareholders’ equityRevenues:Fees from subsidiariesNet investment incomeTotal revenuesExpenses:General and administrative expensesInterest expenseTotal expensesLoss before income taxes and equity in undistributed income of subsidiariesProvision for income taxesLoss before equity in undistributed income of subsidiariesEquity in undistributed income of subsidiaries, net of taxNet incomeOperating activitiesNet income (loss)Adjustments to reconcile net income to net cash used in operating activitiesNet cash provided by operating activitiesInvesting activitiesDistributions from subsidiariesPurchases of investmentsProceeds from sale or maturities of investments

Common shares - $0.01 par value Authorized 50,000 shares Issued 23,350 shares, including 3,441 and 3,557 shares, respectively, in treasury

Capital expendituresNet cash used in investing activitiesFinancing activitiesNet tax effect from exercise/vesting of stock-based compensationProceeds from the issuance of common shares from treasuryCash dividends paid on common sharesNet cash used in financing activitiesNet decrease in cash and cash equivalentsCash and cash equivalents at beginning of yearCash and cash equivalents at end of year

[1]


$ 71,944

162,690

1,951

1,951

71,944

3,290

$ 3,290

During the second quarter of 2014, the Company experienced an increase in adverse prior year development.


$ 53,583 $ 53,583

$ 158,620 $ 155,037 149,378 154,894 $ 152,702

5,145 6,642 7,109 4,921 8,793

$ 5,145 $ 6,642 7,109 4,921 $ 8,793

53,583 53,583

7,302 7,302

$ 7,302 $ 7,302



$ 35,684 $ 53,583 $ 35,684 $ 41,981

39,739 35,517 33,377 $ 149,775 145,570 625,725 602,941 568,926

199 220 706 598,241 591,176 547,234

27,484 11,765 21,692 6,637 739 4,119

(1,670) 3,310 1,514 (10,743) 8,055 20,847 11,026 17,573

$ (10,743) 8,055 20,847 11,026 17,573 133,992 86,437 50,403

(3,638) (5,055) (3,694)(107,161) (61,490) (49,179)

51 25 1,940 2,414 1,127

(10,362) (9,513) (8,673)(8,470) (7,048) (7,521)18,361 17,899 (6,297)

35,684 53,583 35,684 41,981 71,944 53,583 35,684

10,027 7,302 10,027 13,878

27,749 23,294 20,919 105 12 24

27,854 23,306 20,943

30,014 26,710 22,311 199 185 195

30,213 26,895 22,506 (2,359) (3,589) (1,563)

(826) (1,256) (547)(1,533) (2,333) (1,016)22,380 13,359 18,589 20,847 11,026 17,573

20,847 11,026 17,573 (19,721) (15,097) (18,607)

1,126 (4,071) (1,034)

0 10,000 10,000 0 (2,934) (10,767)

4,021 2,001 6,750

(689) (673) (1,279)3,332 8,394 4,704

(48) 51 25 1,940 2,414 1,127

(10,362) (9,513) (8,673)(8,470) (7,048) (7,521)(4,012) (2,725) (3,851)

$ 10,027 7,302 10,027 13,878 $ 3,290 $ 7,302 $ 10,027


Dec. 31, 2015 Dec. 31, 2014 Dec. 31, 2013 Dec. 31, 2012

$ 1,050,988 $ 974,746 81,629 85,228

1,180,508 1,106,760 71,944 53,583 $ 35,684 $ 41,981 22,562 24,538

3,707 4,517 1,935,882 1,754,733

12,000 12,000 1,576,985 1,392,644

0 0 234 234

61,926 59,386 293,516 283,031

8,105 24,483 (4,884) (5,045)

358,897 362,089 352,284 353,948 1,935,882 1,754,733

351,355 345,399

1,904 5,816 0 116

1,904 5,932 11,950 11,278

3,290 7,302 $ 10,027 $ 13,878 1,797 2,734 2,411 3,263

372,707 375,908

12,000 12,000 1,810 1,819

13,810 13,819

0 0 234 234

61,926 59,386 293,516 283,031

8,105 24,483 (4,884) (5,045)

358,897 362,089 $ 372,707 $ 375,908


Condensed Financial Statements, Captions [Line Items]Fixed maturities available-for-sale, amortized costEquity securities available-for-sale, amortized costPreferred shares, no par value (in dollars per share)Preferred shares, authorizedPreferred shares, issuedCommon shares, par value (in dollars per share)Common shares, authorizedCommon shares, issuedTreasury shares, issuedParent Company [Member]Condensed Financial Statements, Captions [Line Items]Fixed maturities available-for-sale, amortized costEquity securities available-for-sale, amortized costPreferred shares, no par value (in dollars per share)Preferred shares, authorizedPreferred shares, issuedCommon shares, par value (in dollars per share)Common shares, authorizedCommon shares, issuedTreasury shares, issued

Condensed Financial Information of Parent Company (Details Textual) - USD ($) $ / shares in Units, $ in Thousands

Dec. 31, 2015 Dec. 31, 2014

$ 1,038,320 $ 945,956 $ 81,919 $ 76,352

$ 0 $ 0 10,000,000 10,000,000

0 0 $ 0.01 $ 0.01

50,000,000 50,000,000 23,350,000 23,350,000

3,441,000 3,557,000

$ 1,930 $ 5,934 $ 0 $ 21 $ 0 $ 0

10,000,000 10,000,000 0 0

$ 0.01 $ 0.01 50,000,000 50,000,000 23,350,000 23,350,000

3,441,000 3,557,000

Supplementary Insurance Information (Details) - USD ($) $ in Thousands12 Months Ended

Dec. 31, 2015Supplementary Insurance Information [Abstract]Deferred policy acquisition costs $ 22,265 Unpaid losses and loss adjustment expenses 1,014,195 Unearned Premiums 336,934 Total premiums earned 585,787 Net investment income 39,739 Losses and LAE 471,940 Amortization of deferred policy acquisition costs 84,975 Other Underwriting Expenses 9,100 Net Premiums Written $ 607,426


$ 22,654 $ 23,025 883,078 803,782 311,255 283,582 557,267 525,710

35,517 33,377 466,998 429,556

84,954 82,240 9,476 9,953

$ 575,574 $ 537,604

Valuation and Qualifying Accounts (Details) - Premiums in Course of Collection [Member] - USD ($) $ in Thousands

Valuation and Qualifying Accounts [Roll Forward]Balance at Beginning of PeriodCharged to ExpenseCredited to ExpenseCharged to Other AccountsDeductionsBalance at End of Period

[1]

Valuation and Qualifying Accounts (Details) - Premiums in Course of Collection [Member] - USD ($) $ in Thousands

[1]

Deductions include write-offs of amounts determined to be uncollectible


$ 2,627 $ 3,225 $ 2,809 443

(453) (400)0 0 0

47 198 27 $ 2,127 $ 2,627 $ 3,225

Deductions include write-offs of amounts determined to be uncollectible

Documents

· XLS file · Web view2017-09-15 · 1301106. 2015. 202. 19924535. 1050988 974746. 81629 85228. 47891 46786. 1180508 1106760. 71944 53583. 9227 8724. 294812 271336. 230346 180332