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Document and Entity Information
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3 Months Ended | |
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Mar. 31, 2013
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May 08, 2013
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| Document and Entity Information [Abstract] | ||
| Document Type | 10-Q | |
| Amendment Flag | false | |
| Document Period End Date | Mar. 31, 2013 | |
| Document Fiscal Year Focus | 2013 | |
| Document Fiscal Period Focus | Q1 | |
| Trading Symbol | MHLD | |
| Entity Registrant Name | MAIDEN HOLDINGS, LTD. | |
| Entity Central Index Key | 0001412100 | |
| Current Fiscal Year End Data | --12-31 | |
| Entity Filer Category | Accelerated Filer | |
| Entity Common Stock, Shares Outstanding | 72,440,861 |
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- Definition
If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Trading symbol of an instrument as listed on an exchange. No definition available.
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- Details
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- Definition
Interest, dividends, rents, ancillary and other revenues earned but not yet received by the entity on its investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of obligations incurred and payable, pertaining to costs that are statutory in nature, incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include, but not limited to, taxes, interest, rent and utilities. Also includes the aggregate carrying amount of liabilities not separately disclosed. No definition available.
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- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Amount of debt securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Net amount of deferred policy acquisition costs capitalized on contracts remaining in force as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Funds held by the ceding insurer on behalf the reinsurer, including funds held in trust, under reinsurance treaties or contracts with the assuming insurer as security for the payment of the obligations thereunder, which represent an asset for the reinsurer. There is another concept for the corresponding liability of the ceding insurer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount of finite-lived intangible assets, indefinite-lived intangible assets and goodwill. Goodwill is an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Intangible assets are assets, not including financial assets, lacking physical substance. No definition available.
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- Definition
Sum of the carrying amounts as of the balance sheet date of all investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of long-term debt (with maturities initially due after one year or beyond the operating cycle if longer) identified as Junior Subordinated Notes, which have a lower priority than senior instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount needed to reflect the estimated ultimate cost of settling claims relating to insured events that have occurred on or before the balance sheet date, whether or not reported to the insurer at that date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
For an unclassified balance sheet, reflects the carrying amount of unpaid loan amounts due from related parties at the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate carrying amounts, as of the balance sheet date, of assets not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Other investments not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The carrying amount as of the balance sheet date due the entity from (a) agents and insureds, (b) uncollected premiums and (c) others, net of the allowance for doubtful accounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The unexpired portion of premiums ceded on policies in force as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The known and estimated amount recoverable as of the balance sheet date from reinsurers for claims paid or incurred by the ceding insurer and associated claims settlement expenses, including estimated amounts for claims incurred but not reported, and policy benefits, net of any related valuation allowance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. This element is for unclassified presentations; for classified presentations there is a separate and distinct element. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of Notes with the highest claim on the assets of the issuer in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle if longer). Senior note holders are paid off in full before any payments are made to junior note holders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount of premiums written on insurance contracts that have not been earned as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This item represents the cost of debt securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any. No definition available.
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- Definition
Face amount or stated value of common stock per share; generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Net amount of deferred policy acquisition costs capitalized on contracts remaining in force as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount needed to reflect the estimated ultimate cost of settling claims relating to insured events that have occurred on or before the balance sheet date, whether or not reported to the insurer at that date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Includes other investments and securities that are not at fair value as of the balance sheet date and those that are not accounted for under the equity method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The carrying amount as of the balance sheet date due the entity from (a) agents and insureds, (b) uncollected premiums and (c) others, net of the allowance for doubtful accounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The unexpired portion of premiums ceded on policies in force as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The known and estimated amount recoverable as of the balance sheet date from reinsurers for claims paid or incurred by the ceding insurer and associated claims settlement expenses, including estimated amounts for claims incurred but not reported, and policy benefits, net of any related valuation allowance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount of premiums written on insurance contracts that have not been earned as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Change during the period in the unearned gross premiums written (direct and assumed) and ceded premiums written. No definition available.
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- Definition
The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Premiums for all insurance assumed from other insurers, that is premiums ceded to the entity by other insurers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The total amount of expense recognized during the period for future policy benefits, claims and claims adjustment costs, and for selling, general and administrative costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The component of income tax expense for the period representing amounts of income taxes paid or payable (or refundable) for the period for all income tax obligations as determined by applying the provisions of relevant enacted tax laws to relevant amounts of taxable Income or Loss from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The component of income tax expense for the period representing the increase (decrease) in the entity's deferred tax assets and liabilities pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of deferred policy acquisition costs charged to expense in the period, generally in proportion to related revenue earned, estimated gross profits, or over the customer relationship or some other period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Equity impact of aggregate cash, stock, and paid-in-kind dividends declared for preferred shareholders during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate foreign currency transaction gain (loss) (both realized and unrealized) included in determining net income for the reporting period. Excludes foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements. For certain enterprises, primarily banks, that are dealers in foreign exchange, foreign currency transaction gains (losses) may be disclosed as dealer gains (losses). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Represents the portion of interest incurred in the period on debt arrangements that was charged against earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This item represents investment income derived from investments in debt and equity securities consisting of interest income earned from investments in debt securities and on cash and cash equivalents, dividend income from investments in equity securities, and income or expense derived from the amortization of investment related discounts or premiums, respectively, net of related investment expenses. This item does not include realized or unrealized gains or losses on the sale or holding of investments in debt and equity securities required to be included in earnings for the period or for other than temporary losses related to investments in debt and equity securities which are included in realized losses in the period recognized, and does not include investment income from real or personal property, such as rental income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Reflects the sum of all other revenue and income recognized by the entity in the period not otherwise specified in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Provision for benefits, claims and claims settlement expenses incurred during the period net of the effects of contracts assumed and ceded. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Premiums earned on the income statement for all insurance and reinsurance contracts after subtracting any amounts ceded to another insurer and adding premiums assumed from other insurers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Premiums written for all insurance and reinsurance contracts, after adding premiums assumed from other insurers and subtracting any amounts ceded to another insurer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |
|---|---|---|
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Mar. 31, 2013
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Mar. 31, 2012
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| Comprehensive income: | ||
| Net income | $ 28,107 | $ 20,378 |
| Other comprehensive income | ||
| Net unrealized holding (losses) gains on available-for-sale fixed maturities arising during the period (net of tax of $7 and ($3) in 2013 and 2012, respectively) | (7,848) | 29,309 |
| Adjustment for reclassification of net realized gains recognized in net income, net of tax | (3,081) | (10) |
| Foreign currency translation adjustment | 2,886 | (2,501) |
| Other comprehensive income | (8,043) | 26,798 |
| Comprehensive income | 20,064 | 47,176 |
| Net income attributable to noncontrolling interest | (27) | (1) |
| Other comprehensive loss (income) attributable to noncontrolling interest | 11 | (8) |
| Comprehensive income attributable to noncontrolling interest | (16) | (9) |
| Comprehensive income attributable to Maiden shareholders | $ 20,048 | $ 47,167 |
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- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to noncontrolling interests. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the economic entity, including both controlling (parent) and noncontrolling interests. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, including any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Net of tax and reclassification adjustments of the change in the balance sheet adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency of the reporting entity. Also includes the following: gain (loss) on foreign currency forward exchange contracts; foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; and gain (loss) on a derivative instrument or nonderivative financial instrument that may give rise to a foreign currency transaction gain (loss) that has been designated and qualified as a hedging instrument for hedging of the foreign currency exposure of a net investment in a foreign operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Net of tax amount of other comprehensive income (loss) attributable to both parent entity and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Net of tax amount of other comprehensive income (loss) attributable to noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Net of tax amount of the income statement impact of the reclassification adjustment for unrealized gain (loss) realized upon the sale of available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Net of tax amount of unrealized holding gain (loss) before reclassification adjustments and transfers on available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |
|---|---|---|
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Mar. 31, 2013
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Mar. 31, 2012
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| Statement of Other Comprehensive Income [Abstract] | ||
| Tax on unrealized holding (losses) gains on available-for-sale fixed maturities | $ 7 | $ (3) |
| X | ||||||||||
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- Definition
Tax effect of other comprehensive income (loss) attributable to both parent entity and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Dividends, Noncontrolling Interest No definition available.
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| X | ||||||||||
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- Definition
This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation". Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Equity impact of aggregate cash, stock, and paid-in-kind dividends declared for common shareholders during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Net of tax amount of the appreciation (loss) in the value of unsold available-for-sale securities. Excludes amounts related to other than temporary impairment (OTTI) losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Net of tax and reclassification adjustments of the change in the balance sheet adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency of the reporting entity. Also includes the following: gain (loss) on foreign currency forward exchange contracts; foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; and gain (loss) on a derivative instrument or nonderivative financial instrument that may give rise to a foreign currency transaction gain (loss) that has been designated and qualified as a hedging instrument for hedging of the foreign currency exposure of a net investment in a foreign operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders. No definition available.
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| X | ||||||||||
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Value of stock issued as a result of the exercise of stock options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The sum of the periodic adjustments of the differences between securities' face values and purchase prices that are charged against earnings. This is called accretion if the security was purchased at a discount and amortization if it was purchased at premium. As a noncash item, this element is an adjustment to net income when calculating cash provided by or used in operations using the indirect method. Also includes the amortiztion of share-based compensation expenses and discount on trust preferred securities. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate net amount of depreciation, amortization, and accretion recognized during an accounting period. As a noncash item, the net amount is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The effect of exchange rate changes on cash balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate foreign currency transaction gain (loss) (both realized and unrealized) included in determining net income for the reporting period. Excludes foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements. For certain enterprises, primarily banks, that are dealers in foreign exchange, foreign currency transaction gains (losses) may be disclosed as dealer gains (losses). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in investment income that has been earned but not yet received in cash. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of accrued expenses and other operating obligations not separately disclosed in the statement of cash flows. No definition available.
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the balance sheet value of capitalized sales costs that are associated with acquiring a new insurance customers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The change in funds held under reinsurance agreements or treaty (contract between the reinsurer and the ceding entity stipulating the manner in which insurance written on various risks is to be shared). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the reserve account established to account for expected but unspecified losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The change in the premium receivable balance on the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The change in prepaid reinsurance premiums recorded on the balance sheet, which is needed to adjust net income to arrive at net cash flows provided by or used in operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the amount of benefits the ceding insurer expects to recover on insurance policies ceded to other insurance entities as of the balance sheet date for all guaranteed benefit types. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Change during the period in the unearned portion of premiums written, excluding the portion amortized into income. Premiums written are initially booked as unearned premiums and are recognized as revenue over the known or estimated life of the policy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net cash inflow or outflow from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The net cash inflow or outflow from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Cash outflow in the form of capital distributions and dividends to common shareholders, preferred shareholders and noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Cash outflow in the form of ordinary dividends to preferred shareholders, generally out of earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow to acquire debt securities classified as available-for-sale securities, because they are not classified as either held-to-maturity securities or trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow associated with other investments held by the entity for investment purposes not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow from a borrowing with the highest claim on the assets of the entity in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow associated with maturities (principal being due), prepayments and calls (requests of early payments) on securities not classified as either held-to-maturity securities or trading securities which are classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow associated with the sale and maturity (principal being due) of other investments, prepayment and call (request of early payment) of other investments not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow associated with the sale of debt securities classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Basis of Presentation - Summary of Significant Accounting Policies
|
3 Months Ended |
|---|---|
|
Mar. 31, 2013
|
|
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Basis of Presentation - Summary of Significant Accounting Policies | Basis of Presentation - Summary of Significant Accounting Policies The accompanying unaudited condensed consolidated financial statements include the accounts of Maiden Holdings, Ltd. and its subsidiaries (the "Company" or "Maiden") and have been prepared in accordance with generally accepted accounting principles in the United States ("GAAP" or "U.S. GAAP") for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the U.S. Securities and Exchange Commission ("SEC"). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. All significant inter-company transactions and accounts have been eliminated in the condensed consolidated financial statements. These interim unaudited condensed consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim period and all such adjustments are of a normal recurring nature. The results of operations for the interim period are not necessarily indicative, if annualized, of those to be expected for the full year. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. These unaudited condensed consolidated financial statements, including these notes, should be read in conjunction with the Company's audited consolidated financial statements, and related notes thereto, included in the Company's Annual Report on Form 10-K for the year ended December 31, 2012. Certain reclassifications have been made for 2012 to conform to the 2013 presentation and have no impact on net income previously reported. |
| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The entire disclosure for the organization, consolidation and basis of presentation of financial statements disclosure, and significant accounting policies of the reporting entity. May be provided in more than one note to the financial statements, as long as users are provided with an understanding of (1) the significant judgments and assumptions made by an enterprise in determining whether it must consolidate a VIE and/or disclose information about its involvement with a VIE, (2) the nature of restrictions on a consolidated VIE's assets reported by an enterprise in its statement of financial position, including the carrying amounts of such assets, (3) the nature of, and changes in, the risks associated with an enterprise's involvement with the VIE, and (4) how an enterprise's involvement with the VIE affects the enterprise's financial position, financial performance, and cash flows. Describes procedure if disclosures are provided in more than one note to the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Recent Accounting Pronouncements
|
3 Months Ended |
|---|---|
|
Mar. 31, 2013
|
|
| New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
| Recent Accounting Pronouncements | Recent Accounting Pronouncements Recently Adopted Accounting Standards Updates Comprehensive Income - Reporting of amounts reclassified out of Accumulated Other Comprehensive Income In February 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2013-02, which adds new disclosure requirements for items reclassified out of accumulated other comprehensive income. The ASU expands the current disclosure guidance by requiring entities to present separately, for each component of other comprehensive income, current period reclassifications out of accumulated other comprehensive income and other amounts of current period other comprehensive income. In addition, the ASU requires entities to present, either on the face of the statement where net income is presented or in the notes to the financial statements, significant amounts reclassified out of other comprehensive income by component of accumulated other comprehensive income. The new disclosure requirements are effective for fiscal years, and interim periods within those years, beginning after December 15, 2012. Early adoption of the guidance is permitted and shall be applied prospectively. The adoption of this guidance did not have any effect on the Company's results of operations, financial position or liquidity. Balance Sheet Offsetting In December 2011, the FASB issued new guidance requiring additional disclosures about financial instruments and derivative instruments that are either: (1) offset for balance sheet presentation purposes or (2) subject to an enforceable master netting arrangement or similar arrangement, regardless of whether they are offset for balance sheet presentation purposes. This guidance is effective at January 1, 2013, with retrospective presentation of the new disclosures required. As this new guidance is disclosure-related only and does not amend the existing balance sheet offsetting guidance, the adoption of this guidance did not have any effect on the Company's results of operations, financial position or liquidity. Qualitative Impairment Test For Indefinite-Lived Intangibles On July 27, 2012, the FASB issued final guidance adding an optional qualitative assessment for determining whether an indefinite-lived intangible asset is impaired. This ASU 2012-02 is similar to the goodwill guidance which allows companies to perform a qualitative assessment to test goodwill for impairment. This guidance gives companies the option to first perform a qualitative assessment to determine whether it is more likely than not (a likelihood of more than 50%) that an indefinite-lived intangible asset is impaired. If a company determines that it is more likely than not that the fair value of such asset exceeds its carrying amount, it would not need to calculate the fair value of the asset in that year. However, if a company concludes otherwise, it must calculate the fair value of the asset, compare that value with its carrying amount and record an impairment charge, if any. To perform a qualitative assessment, a company must identify and evaluate changes in economic, industry and company-specific events and circumstances that could affect the significant inputs used to determine the fair value of an indefinite-lived intangible asset. The guidance is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. Early adoption is permitted. The adoption of this guidance did not have any effect on the Company's results of operations, financial position or liquidity. 2. Recent Accounting Pronouncements (continued) Technical Corrections and Improvements In October 2012, FASB issued ASU 2012-04, Technical Corrections and Improvements. The amendments in this ASU represent changes to clarify the Codification, correct unintended application of guidance, or make minor improvements to the Codification that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. Additionally, the amendments will make the Codification easier to understand and the fair value measurement guidance easier to apply by eliminating inconsistencies and providing needed clarifications. Transition guidance is provided for amendments the FASB believes could change practice. The amendments in this ASU that will not have transition guidance will be effective upon issuance for both public and nonpublic entities. For public entities, the amendments that are subject to the transition guidance will be effective for fiscal periods beginning after December 15, 2012. The adoption of this guidance did not have any effect on the Company's results of operations, financial position or liquidity. Recently Issued Accounting Standards Updates Not Yet Adopted Parent's Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity In March 2013, FASB issued ASU 2013-05 with the objective of resolving the diversity about whether Accounting Standards Codification ("ASC") 810-10, Consolidation-Overall, or ASC 830-30, Foreign Currency Matters-Translation of Financial Statements, applies to the release of the cumulative translation adjustment into net income when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business (other than a sale of in substance real estate or conveyance of oil and gas mineral rights) within a foreign entity. Under this guidance, when a reporting entity that is also the parent entity, ceases to have a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business (other than a sale of in substance real estate or conveyance of oil and gas mineral rights) within a foreign entity, the parent is required to apply the guidance in ASC 830-30 to release any related cumulative translation adjustment into net income. Accordingly, the cumulative translation adjustment should be released into net income only if the sale or transfer results in the complete or substantially complete liquidation of the foreign entity in which the subsidiary or group of assets had resided. Additionally, for an equity method investment that is a foreign entity, the partial sale guidance in ASC 830-30-40 continues to be applicable. As such, a pro rata portion of the cumulative translation adjustment should be released into net income upon a partial sale of such an equity method investment. However, this treatment does not apply to an equity method investment that is not a foreign entity. In those instances, the cumulative translation adjustment is released into net income only if the partial sale represents a complete or substantially complete liquidation of the foreign entity that contains the equity method investment. Furthermore, the amendments in this ASU clarify that the sale of an investment in a foreign entity includes both (1) events that result in the loss of a controlling financial interest in a foreign entity (that is, irrespective of any retained investment) and (2) events that result in an acquirer obtaining control of an acquiree in which it held an equity interest immediately before the acquisition date (sometimes also referred to as a step acquisition). Accordingly, the cumulative translation adjustment should be released into net income upon the occurrence of those events. The amendments in this ASU are effective prospectively for fiscal years (and interim reporting periods within those years) beginning after December 15, 2013. The amendments should be applied prospectively to derecognition events occurring after the effective date. Prior periods should not be adjusted. Early adoption is permitted. The adoption of this guidance is not expected to have an impact on our results of operations, financial condition or liquidity. |
| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Segments
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Mar. 31, 2013
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segments | Segments The Company currently operates three business segments, Diversified Reinsurance, AmTrust Quota Share Reinsurance and the ACAC Quota Share. The Company evaluates segment performance based on segment profit separately from the results of our investment portfolio. Other operating expenses allocated to the segments are called General and Administrative expenses which are allocated on an actual basis except salaries and benefits where management’s judgment is applied; the Company does not allocate general corporate expenses to the segments. In determining total assets by segment, the Company identifies those assets that are attributable to a particular segment such as reinsurance balances receivable, funds withheld, prepaid reinsurance premiums, reinsurance recoverable on unpaid losses, deferred commission and other acquisition expenses, loans, goodwill and intangible assets, and restricted cash and cash equivalents and investments. All remaining assets are allocated to Corporate. The fee-generating business (“IIS Fee Business”) associated with the acquisition of certain companies, businesses and assets comprising the international insurance services business of GMAC Insurance Holdings Ltd. (the “IIS Acquisition”), which is included in the Diversified Reinsurance segment, is considered part of the underwriting operations of the Company. Certain portions of the IIS Fee Business are directly associated with the underlying reinsurance contracts recorded in the Diversified Reinsurance segment. 3. Segments (continued) To the extent that the fees are generated on underlying insurance contracts sold to third parties that are then ceded under the quota share reinsurance contracts with Maiden Insurance Company Ltd. ("Maiden Bermuda"), a proportionate share of the fee is offset against the related acquisition expense. To the extent that IIS Fee Business is not directly associated with premium revenue generated under the applicable reinsurance contracts, that fee revenue is separately reported on the line captioned “Other insurance revenue” in the Company's unaudited Condensed Consolidated Statements of Income. The following tables summarize the underwriting results of our operating segments:
3. Segments (continued)
3. Segments (continued)
3. Segments (continued) The following tables set forth financial information relating to net premiums written and earned by major line of business for the three months ended March 31, 2013 and 2012:
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- Details
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- Definition
The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Investments
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Mar. 31, 2013
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| Schedule of Investments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments | Investments (a) Fixed Maturities and Other Investments The original or amortized cost, estimated fair value and gross unrealized gains and losses of available-for-sale fixed maturities and other investments as of March 31, 2013 and December 31, 2012 are as follows:
4. Investments (continued) The contractual maturities of our fixed maturities, available-for-sale as of March 31, 2013 are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or repay obligations prior to contractual maturity.
The following tables summarize our available-for-sale fixed maturities and other investments in an unrealized loss position and the aggregate fair value and gross unrealized loss by length of time the securities have continuously been in an unrealized loss position:
As of March 31, 2013, there were approximately 53 securities in an unrealized loss position with a fair value of $468,560 and unrealized losses of $6,343. Of these securities, there are 10 securities that have been in an unrealized loss position for 12 months or greater with a fair value of $158,125 and unrealized losses of $3,514.
4. Investments (continued) As of December 31, 2012, there were approximately 32 securities in an unrealized loss position with a fair value of $397,186 and unrealized losses of $8,016. Of these securities, there are 9 securities that have been in an unrealized loss position for 12 months or greater with a fair value of $143,853 and unrealized losses of $5,445. Other-Than-Temporary Impairments ("OTTI") We review our investment portfolio for impairment on a quarterly basis. Impairment of investments results in a charge to operations when a fair value decline below cost is deemed to be other-than-temporary. As of March 31, 2013, we reviewed our portfolio to evaluate the necessity of recording impairment losses for other-than-temporary declines in the fair value of investments. During the three months ended March 31, 2013 and 2012, the Company recognized no OTTI. Based on our qualitative and quantitative OTTI review of each asset class within our fixed maturity portfolio, the unrealized losses on fixed maturities at March 31, 2013 were primarily due to widening of credit spreads relating to the market illiquidity, rather than credit events. Because we do not intend to sell these securities and it is not more likely than not that we will be required to sell these securities until a recovery of fair value to amortized cost, we currently believe it is probable that we will collect all amounts due according to their respective contractual terms. Therefore, we do not consider these fixed maturities to be other-than-temporarily impaired at March 31, 2013. The following summarizes the credit ratings of our fixed maturities:
*Ratings as assigned by Standard & Poor’s ("S&P") 4. Investments (continued) (b) Other Investments The table below shows our portfolio of other investments:
The Company has an unfunded commitment on its investments in limited partnerships of approximately $2,780 as of March 31, 2013. (c) Realized and Unrealized Gains (Losses) on Investment Realized gains or losses on the sale of investments are determined on the basis of the first in first out cost method. The following provides an analysis of realized and unrealized gains (losses) on investment for the three months ended March 31, 2013 and 2012:
Proceeds from sales of fixed maturities classified as available-for-sale were $45,379 and $104,125 for the three months ended March 31, 2013 and 2012, respectively. Net unrealized gains on available-for-sale fixed maturities and other investments was as follows:
4. Investments (continued) (d) Restricted Cash and Cash Equivalents and Investments We are required to maintain assets on deposit to support our reinsurance operations and to serve as collateral for our reinsurance liabilities under various reinsurance agreements. The assets on deposit are available to settle reinsurance liabilities. We also utilize trust accounts to collateralize business with our reinsurance counterparties. These trust accounts generally take the place of letter of credit requirements. The assets in trust as collateral are primarily cash and highly rated fixed maturity securities. The fair value of our restricted assets was as follows:
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- Definition
The entire disclosure for investment holdings. This includes the long positions of investments for the entity. It contains investments in affiliated and unaffiliated issuers. The investments include securities and non securities (i.e. commodities and futures contracts). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fair Value Measurements
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Mar. 31, 2013
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| Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value of Financial Instruments | Fair Value of Financial Instruments (a) Fair Values of Financial Instruments FASB ASC Topic 820, “Fair Value Measurements and Disclosures” (“ASC 820”) defines fair value as the price to sell an asset or transfer a liability (i.e. the “exit price”) in an orderly transaction between market participants. Additionally, ASC 820 establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The hierarchy is broken down into three levels based on the reliability of inputs as follows:
The availability of observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety of factors, including, for example, the type of financial instrument, whether the financial instrument is new and not yet established in the marketplace, and other characteristics particular to the transaction. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires significantly more judgment. Accordingly, the degree of judgment exercised by management in determining fair value is greatest for instruments categorized in Level 3. We use prices and inputs that are current as of the measurement date. In periods of market dislocation, the observability of prices and inputs may be reduced for many instruments. This condition could cause an instrument to be reclassified between levels. 5. Fair Value of Financial Instruments (continued) For investments that have quoted market prices in active markets, the Company uses the quoted market prices as fair value and includes these prices in the amounts disclosed in the Level 1 hierarchy. The Company receives the quoted market prices from third party, nationally, recognized pricing services (“pricing service”). When quoted market prices are unavailable, the Company utilizes a pricing service to determine an estimate. The fair value estimates are included in the Level 2 hierarchy. The Company will challenge any prices for its investments which are considered to not represent fair value. If quoted market prices and an estimate from a pricing service are unavailable, the Company produces an estimate of fair value based on dealer quotations for recent activity in positions with the same or similar characteristics to that being valued or through consensus pricing of a pricing service. Depending on the level of observable inputs, the Company will then determine if the estimate is Level 2 or Level 3 hierarchy. The Company bases its estimates of fair values for assets on the bid price as it represents what a third party market participant would be willing to pay in an arm’s length transaction. In accordance with ASC 820, the Company determines fair value based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 825, “Disclosure About Fair Value of Financial Instruments", requires all entities to disclose the fair value of their financial instruments, both assets and liabilities recognized and not recognized in the balance sheet, for which it is practicable to estimate fair value. The following describes the valuation techniques used by the Company to determine the fair value of financial instruments held as of March 31, 2013. U.S. Government and U.S. Government agencies — Comprised primarily of bonds issued by the U.S. Treasury, the Federal Home Loan Bank, the Federal Home Loan Mortgage Corporation, Government National Mortgage Association and the Federal National Mortgage Association. The fair values of U.S. Treasury securities are based on quoted market prices in active markets, and are included in the Level 1 fair value hierarchy. We believe the market for U.S. Treasury securities is an actively traded market given the high level of daily trading volume. The fair values of U.S. agency securities are priced using the spread above the risk-free yield curve. As the yields for the risk-free yield curve and the spreads for these securities are observable market inputs, the fair values of U.S. agency securities are included in the Level 2 fair value hierarchy. Non-U.S. government bonds — Comprised of bonds issued by non-U.S. governments and their agencies along with supranational organizations. These securities are generally priced by pricing services. The pricing services may use current market trades for securities with similar quality, maturity and coupon. If no such trades are available, the pricing service typically uses analytical models which may incorporate spreads, interest rate data and market/sector news. As the significant inputs used to price non-U.S. government bonds are observable market inputs, the fair values of non-U.S. government bonds are included in the Level 2 fair value hierarchy. Other mortgage-backed securities — Other mortgage-backed bonds consist of a commercial mortgage-backed security ("CMBS"). This security is priced by independent pricing services and brokers. The pricing provider applies dealer quotes and other available trade information, prepayment speeds, yield curves and credit spreads to the valuation. As the significant inputs used to price the CMBS are observable market inputs, the fair value of the CMBS is included in the Level 2 fair value hierarchy. Corporate bonds — Comprised of bonds issued by corporations that on acquisition are rated BBB-/Baa3 or higher. These securities are generally priced by pricing services. The fair values of corporate bonds that are short-term are priced, by the pricing services, using the spread above the London Interbank Offering Rate ("LIBOR") yield curve and the fair value of corporate bonds that are long-term are priced using the spread above the risk-free yield curve. The spreads are sourced from broker/dealers, trade prices and the new issue market. Where pricing is unavailable from pricing services, we obtain non-binding quotes from broker-dealers. As the significant inputs used to price corporate bonds are observable market inputs, the fair values of corporate bonds are included in the Level 2 fair value hierarchy. Municipal bonds — Municipal bonds comprise bonds and auction rate securities issued by U.S. state and municipality entities or agencies. The fair values of municipal bonds are generally priced by pricing services. The pricing services typically use spreads obtained from broker-dealers, trade prices and the new issue market. As the significant inputs used to price the municipal bonds are observable market inputs, municipals are classified within Level 2. Municipal auction rate securities are reported in the Condensed Consolidated Balance Sheets at cost which approximates their fair value. Other investments — The fair values of the investment in limited partnerships are determined by the fund manager based on recent filings, operating results, balance sheet stability, growth and other business and market sector fundamentals, and as such, the fair values are included in the Level 3 fair value hierarchy. Reinsurance balance receivable — The carrying values reported in the accompanying balance sheets for these financial instruments approximate their fair value due to short term nature of the assets. 5. Fair Value of Financial Instruments (continued) Loan to related party — The carrying value reported in the accompanying balance sheets for this financial instrument approximates its fair value. The underlying investments of the loan are generally priced by pricing services. As the significant inputs used to price the underlying investments are observable market inputs, the fair value of the loan to related party is included in the Level 2 fair value hierarchy. Senior notes — The amount reported in the accompanying balance sheets for these financial instruments represents the carrying value of the notes. The fair values are based on quoted prices of identical instruments in inactive markets and as such, are included in the Level 2 hierarchy. Junior subordinated debt — The amount reported in the accompanying balance sheets for this financial instrument represents the carrying value of the debt. The fair value of the debt was derived using the Black-Derman-Toy model. As the fair value of the junior subordinated debt is determined using observable market inputs in the Black-Derman-Toy model, the fair value is included in the Level 2 fair value hierarchy. (b) Fair Value Hierarchy The Company’s estimates of fair value for financial assets and financial liabilities are based on the framework established in ASC 820. The framework is based on the inputs used in valuation and gives the highest priority to quoted prices in active markets and requires that observable inputs be used in the valuations when available. The disclosure of fair value estimates in the ASC 820 hierarchy is based on whether the significant inputs into the valuation are observable. In determining the level of the hierarchy in which the estimate is disclosed, the highest priority is given to unadjusted quoted prices in active markets and the lowest priority to unobservable inputs that reflect the Company’s significant market assumptions. At March 31, 2013 and December 31, 2012, we classified our financial instruments measured at fair value on a recurring basis in the following valuation hierarchy:
5. Fair Value of Financial Instruments (continued)
The Company utilized a pricing service to estimate fair value measurements for approximately 99.0% of its fixed maturities. The pricing service utilizes market quotations for fixed maturity securities that have quoted market prices in active markets. Since fixed maturities other than U.S. treasury securities generally do not trade on a daily basis, the pricing service prepares estimates of fair value measurements using relevant market data, benchmark curves, sector groupings and matrix pricing and these have been classified as level 2. Other investments: The Company has $3,220 or approximately 0.1% of its investment portfolio in limited partnerships where the fair value estimate is determined by the fund manager based on recent filings, operating results, balance sheet stability, growth and other business and market sector fundamentals. Due to the significant unobservable inputs in these valuations, the Company includes the estimate in the amount disclosed as Level 3. The Company has determined that its investments in Level 3 securities are not material to its financial position or results of operations. (c) Level 3 Financial Instruments The following table presents changes in Level 3 for our financial instruments measured at fair value on a recurring basis for the three months ended March 31, 2013 and 2012:
5. Fair Value of Financial Instruments (continued) (d) Fair Value of Liabilities The following table presents the carrying values and fair values of the Senior Notes and Junior Subordinated debt as of March 31, 2013 and December 31, 2012:
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The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Goodwill and Intangible Assets
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Mar. 31, 2013
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| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill Goodwill is calculated as the excess of purchase price over the net fair value of assets acquired. The Company performs an annual impairment analysis to identify potential goodwill impairment and measures the amount of a goodwill impairment loss to be recognized. This annual test is performed during the fourth quarter of each year or more frequently if events or circumstances change in a way that requires the Company to perform the impairment analysis on an interim basis. Goodwill impairment testing requires an evaluation of the estimated fair value of each reporting unit to its carrying value, including the goodwill. An impairment charge is recorded if the estimated fair value is less than the carrying amount of the reporting unit. No impairments have been identified to date. Intangible Assets Intangible assets consist of finite and indefinite life assets. Finite life intangible assets include customer and producer relationships and trademarks. Insurance company licenses are considered indefinite life intangible assets subject to annual impairment testing. The following table shows an analysis of goodwill and intangible assets as of March 31, 2013 and December 31, 2012:
6. Goodwill and Intangible Assets (continued) The goodwill and intangible assets were recognized as a result of the acquisitions and are subject to annual impairment testing. No impairment was recorded during the three months ended March 31, 2013 and 2012. The estimated amortization expenses for the next five years are:
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The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Long-Term Debt
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Mar. 31, 2013
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| Debt Disclosure [Abstract] | |
| Long-Term Debt | Long-Term Debt Senior Notes In June 2011, the Company, through its wholly owned subsidiary Maiden Holdings North America, Ltd. ("Maiden NA"), issued $107,500 principal amount of 8.25% Senior Notes ("2011 Senior Notes") due on June 15, 2041, which are fully and unconditionally guaranteed by the Company. The 2011 Senior Notes are redeemable for cash, in whole or in part, on or after June 15, 2016, at 100% of the principal amount plus accrued and unpaid interest up to but excluding the redemption date. The 2011 Senior Notes are an unsecured and unsubordinated obligation of the Company and rank ahead of the Junior Subordinated Debt, described below. The effective interest rate of the 2011 Senior Notes, based on the net proceeds received, was 8.47%. The net proceeds from the sale of the 2011 Senior Notes were $104,689, after placement agent fees and expense or debt issuance cost of $2,811. The issuance costs related to the 2011 Senior Notes were capitalized and is being amortized over the life of the notes. Amortization expense for the three months ended March 31, 2013 was $23 (March 31, 2012 - $23). The interest on the 2011 Senior Notes is payable each quarter beginning on September 15, 2011. Interest expense for the three months ended March 31, 2013 was $2,217 (March 31, 2012 - $2,217), out of which $394 was accrued as of March 31, 2013 (December 31, 2012 - $394). In March 2012, the Company, through Maiden NA, issued $100,000 principal amount of 8.00% Senior Notes ("2012 Senior Notes") due on March 27, 2042, which are fully and unconditionally guaranteed by the Company. The 2012 Senior Notes are redeemable for cash, in whole or in part, on or after March 27, 2017, at 100% of the principal amount to be redeemed plus accrued and unpaid interest up to but excluding the redemption date. The 2012 Senior Notes are an unsecured and unsubordinated obligation of the Company and rank ahead of the Junior Subordinated Debt, described below. The effective interest rate of the 2012 Senior Notes, based on the net proceeds received, was 8.28%. The net proceeds from the sale of the 2012 Senior Notes were $96,594, after placement agent fees and other expenses of $3,406. The issuance costs related to the 2012 Senior Notes were capitalized and are being amortized over the life of the notes. Amortization expense for the three months ended March 31, 2013 was $28 (March 27-31, 2012 - $1). The interest on the 2012 Senior Notes is payable each quarter beginning on June 27, 2012. Interest expense for the three months ended March 31, 2013 was $2,000 (March 27-31, 2012 - $111), out of which $111 was accrued as of March 31, 2013 (December 31, 2012 - $111). Junior Subordinated Debt On January 20, 2009, the Company completed a private placement of 260,000 units (the "Units"), each Unit consisting of $1,000 principal amount of capital securities (the "Trust Preferred Securities") of Maiden Capital Financing Trust (the "Trust"), a special purpose trust established by Maiden NA, and 45 common shares, $0.01 par value, of the Company for a purchase price of $1,000.45 per Unit (the "TRUPS Offering"). In the aggregate, 11,700,000 common shares were issued to the purchasers in the TRUPS Offering. This resulted in gross proceeds to the Company of $260,117, before $4,342 of placement agent fees and expenses. Certain trusts established by Michael Karfunkel and George Karfunkel, two of the Company's Founding Shareholders, purchased an aggregate of 159,000 of the Units, or 61.12%. The remaining 101,000 Units were purchased by existing institutional shareholders of the Company. The Trust used the proceeds from the sale of the Trust Preferred Securities to purchase a subordinated debenture (the “Junior Subordinated Debt”) in the principal amount of $260,000 issued by Maiden NA. 7. Long-Term Debt (continued) Under the terms of the Trust Preferred Securities, the Company can repay the principal balance in full or in part at any time. However, if the Company repays such principal within five years of the date of issuance, it is required to pay an additional amount equal to one full year of interest on the amount of Trust Preferred Securities repaid. If the remaining amount of the Trust Preferred Securities were repaid within five years of the date of issuance (adjusted for the $107,500 repurchase of Junior Subordinated Debt, which occurred on July 15, 2011), the additional amount due would be $21,350, which would be a reduction in earnings. Pursuant to separate Guarantee Agreements dated as of January 20, 2009 with Wilmington Trust Company, as guarantee trustee, each of the Company and Maiden NA has agreed to guarantee the payment of distributions and payments on liquidation, repurchase or redemption of the Trust Preferred Securities. As a consequence of the issuance of a majority of the Units to a related party under ASC Topic 810 "Consolidation", the Trust is a variable interest entity; however, the Company is not deemed to be the primary beneficiary of the Trust, therefore it is not consolidated. The issuance of common shares associated with the Trust Preferred Securities resulted in an original issuance discount of $44,928 based on market price of $3.85 on January 20, 2009. The discount is amortized over 30 years based on the effective interest method. The Junior Subordinated Debt and Trust Preferred Securities mature in 2039 and carry a stated or coupon rate of 14%, with an effective interest rate of 16.95%. Using the proceeds from the 2011 Senior Notes offering and existing cash, the Company repurchased $107,500 of the Junior Subordinated Debt on July 15, 2011. Pursuant to the terms of the TRUPS Offering, the Company incurred and paid a repurchase expense in 2011 equivalent to one year's interest expense, or $15,050. The Company also accelerated the amortization of the issuance cost and discount related to those repurchased Junior Subordinated Debt in 2011 which amounted to $20,313. As of March 31, 2013, the stated value of the Junior Subordinated Debt was $126,332 which comprises the principal amount of $152,500 less the unamortized discount of $26,168. Amortization expense for the three months ended March 31, 2013 were $15 (March 31, 2012 - $13). Interest expense for the three months ended March 31, 2013 were $5,337 (March 31, 2012 - $5,337), out of which $4,448 was accrued as of March 31, 2013 (December 31, 2012 - $4,448). |
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The entire disclosure for long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Related Party Transactions
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Mar. 31, 2013
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| Related Party Transactions [Abstract] | |
| Related Party Transactions | Related Party Transactions The Founding Shareholders of the Company are Michael Karfunkel, George Karfunkel and Barry Zyskind. Michael Karfunkel is the non-executive chairman of the board of AmTrust Financial Services, Inc. ("AmTrust"), George Karfunkel is a director of AmTrust, and Barry Zyskind is the president, chief executive officer and director of AmTrust. The Founding Shareholders own or control approximately 58% of the outstanding shares of AmTrust. In addition, the Michael Karfunkel 2005 Grantor Retained Annuity Trust (which is controlled by Leah Karfunkel, wife of Michael Karfunkel) ("Annuity Trust"), currently owns 72.4% of the issued and outstanding common stock of American Capital Acquisition Corporation ("ACAC"), Michael Karfunkel currently owns 27.6% of ACAC's issued and outstanding common stock, and AmTrust owns preferred shares convertible into 21.25% of the issued and outstanding common stock of ACAC (see below for a description of our common business arrangements with AmTrust and ACAC). Michael Karfunkel is the chairman and chief executive officer of ACAC. AmTrust The following describes transactions between the Company and AmTrust. AmTrust Quota Share Reinsurance Agreement Effective July 1, 2007, the Company and AmTrust entered into a master agreement, as amended (the "Master Agreement"), by which they caused Maiden Bermuda, a wholly owned subsidiary of the Company, and AmTrust's Bermuda reinsurance subsidiary, AmTrust International Insurance, Ltd. ("AII"), to enter into a quota share reinsurance agreement (the "Reinsurance Agreement") by which (a) AII retrocedes to Maiden Bermuda an amount equal to 40% of the premium written by subsidiaries of AmTrust, net of the cost of unaffiliated inuring reinsurance (and in the case of AmTrust's U.K. insurance subsidiary, AmTrust Europe, Limited, net of commissions) and 40% of losses and (b) AII transferred to Maiden Bermuda 40% of the AmTrust subsidiaries' unearned premiums, effective July 1, 2007, with respect to the current lines of business, excluding risks for which the AmTrust subsidiaries' net retention exceeds $5,000 ("Covered Business"). Effective January 1, 2010, the Company agreed to assume its proportionate share of AmTrust's workers' compensation exposure and shared the benefit of the 2010 excess reinsurance protection. AmTrust also has agreed to cause AII, subject to regulatory requirements, to reinsure any insurance company which writes Covered Business in which AmTrust acquires a majority interest to the extent required to enable AII to cede to Maiden Bermuda 40% of the premiums and losses related to such Covered Business. The Master Agreement further provided that AII receives a ceding commission of 31% of ceded written premiums. 8. Related Party Transactions (continued) On June 11, 2008, Maiden Bermuda and AII amended the Reinsurance Agreement to add Retail Commercial Package Business to the Covered Business as a consequence of AmTrust's acquisition of Unitrin Business Insurance (“UBI”). Under the amendment, AmTrust's subsidiaries ceded, upon collection, to Maiden Bermuda 100% of $82.2 million of unearned premium (net of inuring reinsurance) from the acquisition of UBI's in-force book of business. Additionally, AmTrust cedes to Maiden Bermuda 40% of net premium written, effective as of June 1, 2008. Maiden Bermuda will pay to AmTrust a ceding commission of 34.375% on the unearned premium cession and the Retail Commercial Package Business. The $2,000 maximum liability for a single loss provided in the Reinsurance Agreement shall not be applicable to Retail Commercial Package Business. On February 9, 2009, Maiden Bermuda and AII amended the Reinsurance Agreement to clarify that (i) AII would offer Maiden Bermuda the opportunity to reinsure Excess Retention Business, which is defined as a policy issued by an AmTrust insurance subsidiary with respect to which the insurance subsidiary's retention is greater than $5,000 and (ii) the deduction for the cost of inuring reinsurance from Affiliate Subject Premium (as defined in the Reinsurance Agreement) retroceded to Maiden Bermuda is net of ceding commission. Effective April 1, 2011, Maiden Bermuda and AII amended the Master Agreement to reduce the commission on all business ceded except Retail Commercial Package Business to 30% until December, 31, 2011. Thereafter the rate increased to 31% subject to an adjustment of 1% to 30% if the proportion of Specialty Risk and Extended Warranty premium ceded is greater than or equal to 42% of the Covered Business (excluding Retail Commercial Package Business). If the proportion of Specialty Risk and Extended Warranty premium ceded is greater than or equal to 38% but less than 42% of the Covered Business (excluding Retail Commercial Package Business), the commission rate shall be reduced by 0.5% to 30.5%. In addition, the collateral requirements were restated to clarify that balances relating to all AmTrust subsidiaries are subject to collateral requirements, and the Reinsurance Agreement was extended by one year through June 30, 2014, and shall automatically renew for successive three-year periods thereafter. If AII or Maiden Bermuda elects to so terminate the Reinsurance Agreement, it shall give written notice to the other party hereto not less than nine months prior to either July 1, 2014 or the expiration of any successive three-year period. In addition, either party is entitled to terminate on thirty days' notice or less upon the occurrence of certain early termination events, which include a default in payment, insolvency, change in control of AII or Maiden Bermuda, run-off, or a reduction of 50% or more of the shareholders' equity of Maiden Bermuda or the combined shareholders' equity of AII and the AmTrust subsidiaries. Effective March 7, 2013, Maiden Bermuda and AII amended the Reinsurance Agreement extending the term of the agreement to July 1, 2016. The amendment further provides that, effective January 1, 2013, AII will receive a ceding commission of 31% of ceded written premiums with respect to all Covered Business other than retail commercial package business, for which the ceding commission will remain 34.375%. Lastly, with regard to the Specialty Program portion of Covered Business only, excluding workers’ compensation business included in AmTrust’s Specialty Program segment from July 1, 2007 through December 31, 2012, AII will be responsible for ultimate net loss otherwise recoverable from Maiden Bermuda to the extent that the loss ratio to Maiden Bermuda, which shall be determined on an inception to date basis from July 1, 2007 through the date of calculation, is between 81.5% and 95%. Above and below the defined corridor, Maiden Bermuda will continue to reinsure losses at its proportional 40% share per the Reinsurance Agreement. The Company recorded approximately $61,128 of ceding commission expense for the three months ended March 31, 2013 (March 31, 2012 - $43,879) as a result of this transaction. AmTrust European Hospital Liability Quota Share Agreement ("European Hospital Liability Quota Share") Effective April 1, 2011, Maiden Bermuda, entered into a quota share reinsurance contract with AmTrust Europe Limited and AmTrust International Underwriters Limited, both wholly owned subsidiaries of AmTrust. Pursuant to the terms of the contract, Maiden Bermuda assumed 40% of the premiums and losses related to policies classified as European Hospital Liability, including associated liability coverages and policies covering physician defense costs, written or renewed on or after April 1, 2011. The contract also covers policies written or renewed on or before March 31, 2011, but only with respect to losses that occur, accrue or arise on or after April 1, 2011. The maximum limit of liability attaching shall be €5,000 or currency equivalent (on a 100% basis) per original claim for any one original policy. Maiden Bermuda will pay a ceding commission of 5% and shall allow the reinsured a profit share on original net premiums ceded under the contract. The profit sharing is based upon the reinsured exceeding defined underwriting performance of each contract year, commencing two years after the beginning of each contract year. To the extent that the underwriting performance is exceeded, will will share 50% of the excess amounts computed. The agreement has an initial term of one year, has been automatically renewed for one year and can be terminated at any April 1 by either party on four months notice. Effective January 1, 2012, European Hospital Liability Quota Share was amended, thereby increasing the maximum liability attaching to €10,000 or currency equivalent (on a 100% basis) per original claim for any one original policy. Furthermore, amendments were also made to the contract to expand the territorial scope to include new territories, specifically France. For the three months ended March 31, 2013, the Company recorded approximately $1,251 (March 31, 2012 - $1,192) of commission expense as a result of this transaction. 8. Related Party Transactions (continued) Other Reinsurance Agreements Effective January 1, 2008, Maiden Bermuda and AmTrust entered into an agreement to reinsure a 45% participation in the $9,000 in excess of $1,000 layer of AmTrust's workers' compensation excess of loss program. This layer provides reinsurance to AmTrust for losses per occurrence in excess of $1,000 up to $10,000, subject to an annual aggregate deductible of $1,250. This participation was sourced through a reinsurance intermediary via open market placement in which competitive bids were solicited by an independent broker. The remaining 55% participation was placed with a single carrier. This coverage expired on January 1, 2010; as a result, under the Reinsurance Agreement, Maiden Bermuda therefore now reinsures 40% of the subject workers' compensation business up to $10,000, subject to certain additional inuring reinsurance protection that AmTrust has purchased. Effective September 1, 2010, our indirect wholly owned subsidiary, Maiden Specialty Insurance Company ("Maiden Specialty"), entered into a quota share reinsurance agreement with Technology Insurance Company, Inc. ("Technology"), a subsidiary of AmTrust. Under the agreement, Maiden Specialty will cede (a) 90% of its gross liability written under the Open Lending Program ("OPL") and (b) 100% of its surplus lines general liability business under the Naxos Avondale Specialty Casualty Program ("NAXS"). Maiden Specialty's involvement is limited to certain states where Technology is not fully licensed. The agreement also provides that Maiden Specialty receives a ceding commission of 5% of ceded written premiums. The reinsurance agreement had a term of three years and remained continuously in force until terminated in accordance with the contract. The OPL program was terminated on December 31, 2011 on a run-off basis and the NAXS program terminated on October 31, 2012. Maiden Specialty recorded approximately $507 of premiums earned ceded and $128 of ceding commission for the three months ended March 31, 2013, respectively (March 31, 2012 - $2,300 of premiums earned ceded and $696 of ceding commission, respectively). Effective September 1, 2010, our indirect wholly owned subsidiary, Maiden Reinsurance Company ("Maiden US"), entered into a reinsurance agreement with Security National Insurance Company ("SNIC"), a subsidiary of AmTrust. Under the agreement, SNIC will cede 80% of the gross liabilities produced under the Southern General Agency program to Maiden US. The agreement provides SNIC with a 5% commission of ceded written premiums. The agreement has a term of one year and automatically renews annually unless terminated pursuant to the terms of the agreement. Under this agreement, Maiden US recorded approximately $759 of premiums earned and $38 of commission expense for the three months ended March 31, 2013, respectively (March 31, 2012 - $284 of premiums earned and $82 of commission expense, respectively). Collateral provided to AmTrust In order to provide AmTrust's U.S. insurance subsidiaries with credit for reinsurance on their statutory financial statements, AII, as the direct reinsurer of the AmTrust's insurance subsidiaries, has established trust accounts ("Trust Accounts") for their benefit. Maiden Bermuda has agreed to provide appropriate collateral to secure its proportional share under the Reinsurance Agreement of AII's obligations to the AmTrust subsidiaries to whom AII is required to provide collateral. This collateral may be in the form of (a) assets loaned by Maiden Bermuda to AII for deposit into the Trust Accounts, pursuant to a loan agreement between those parties, (b) assets transferred by Maiden Bermuda for deposit into the Trust Accounts, (c) a letter of credit obtained by Maiden Bermuda and delivered to an AmTrust subsidiary on AII's behalf (a "Letter of Credit"), or (d) premiums withheld by an AmTrust subsidiary at Maiden Bermuda's request in lieu of remitting such premiums to AII (“Withheld Funds”). Maiden Bermuda may provide any or a combination of these forms of collateral, provided that the aggregate value thereof equals Maiden Bermuda's proportionate share of its obligations under the Reinsurance Agreement with AII. The amount of collateral Maiden Bermuda is required to maintain, which is determined quarterly, equals its proportionate share of (a) the amount of ceded paid losses for which AII is responsible to such AmTrust subsidiaries but has not yet paid, (b) the amount of ceded loss reserves (including ceded reserves for claims reported but not resolved and losses incurred but not reported) for which AII is responsible to AmTrust subsidiaries, and (c) the amount of ceded reserves for unearned premiums ceded by AmTrust subsidiaries to AII. Maiden Bermuda satisfied its collateral requirements under the Reinsurance Agreement with AII as follows: •by lending funds in the amount of $167,975 as of March 31, 2013 and December 31, 2012 to AII pursuant to a loan agreement entered into between those parties. This loan is carried at cost. Pursuant to the Reinsurance Agreement, AmTrust has agreed to cause AII not to commingle Maiden Bermuda's assets with AII's other assets and to cause the AmTrust subsidiaries not to commingle Maiden Bermuda's assets with the AmTrust subsidiaries' other assets if an AmTrust subsidiary withdraws those assets. AII has agreed that, if an AmTrust subsidiary returns to AII excess assets withdrawn from a Trust Account, drawn on a Letter of Credit or maintained by such AmTrust subsidiary as Withheld Funds, AII will immediately return to Maiden Bermuda its proportionate share of such excess assets. AII has further agreed that if the aggregate fair market value of the amount of Maiden Bermuda's assets held in the Trust Account exceeds Maiden Bermuda's proportionate share of AII's obligations, or if an AmTrust subsidiary misapplies any such collateral, AII will immediately return to Maiden Bermuda an amount equal to such excess or misapplied collateral, less any amounts AII has paid to Maiden Bermuda.In addition, if an AmTrust subsidiary withdraws Maiden Bermuda's assets from a Trust Account and maintains those assets on its books as Withheld Funds, AII has agreed to pay to Maiden Bermuda interest at the rate equivalent to the one-month LIBOR plus 90 basis points per annum computed on the basis of a 360-day year on the loan (except to the extent Maiden Bermuda's proportionate share of AII's obligations to that AmTrust subsidiary exceeds the value of the collateral Maiden Bermuda has provided), and net of unpaid fees Maiden Bermuda owes to AII Insurance Management Limited ("AIIM") and its share of fees owed to the trustee of the Trust Account.The amount of accrued interest relating to the loan was $494 and $0 as of March 31, 2013 and December 31, 2012, respectively; and 8. Related Party Transactions (continued) •effective December 1, 2008, the Company entered into a Reinsurer Trust Assets Collateral agreement to provide to AII sufficient collateral to secure its proportional share of AII's obligations to the U.S. AmTrust subsidiaries. The amount of the collateral, as of March 31, 2013 was approximately $867,797 (December 31, 2012 - $857,013) and the accrued interest was $6,949 (December 31, 2012 - $6,967). (See Note 4(d)). Reinsurance Brokerage Agreements Effective July 1, 2007, the Company entered into a reinsurance brokerage agreement with AII Reinsurance Broker Ltd. ("AIIB"), a subsidiary of AmTrust. Pursuant to the brokerage agreement, AIIB provides brokerage services relating to the Reinsurance Agreement and, beginning on April 1, 2011, the European Hospital Liability Quota Share agreement for a fee equal to 1.25% of the premium assumed. The brokerage fee is payable in consideration of AIIB's brokerage services. AIIB is not the Company's exclusive broker. AIIB may, if mutually agreed, also produce reinsurance business for the Company from other ceding companies, and in such cases the Company will negotiate a mutually acceptable commission rate. Following the initial one-year term, the agreement may be terminated upon 30 days written notice by either party. Maiden Bermuda recorded approximately $2,754 of reinsurance brokerage expense for the three months ended March 31, 2013 (March 31, 2012 - $2,098) and deferred reinsurance brokerage of $7,835 as of March 31, 2013 (December 31, 2012 - $6,299) as a result of this agreement. The Company paid brokerage fees to AmTrust's subsidiary AmTrust North America of $1 for the three months ended March 31, 2013 (March 31, 2012 - $0) for acting as insurance intermediary in relation to certain insurance placements. Asset Management Agreement Effective July 1, 2007, we entered into an asset management agreement with AIIM pursuant to which AIIM has agreed to provide investment management services to the Company. Pursuant to the asset management agreement, AIIM provides investment management services for a quarterly fee of 0.05% if the average value of the account for the previous calendar quarter is less than or equal to $1 billion and 0.0375% if the average value of the account for the previous calendar quarter is greater than $1 billion. Following the initial one-year term, the agreement may be terminated upon 30 days written notice by either party. The Company recorded approximately $1,041 of investment management fees for the three months ended March 31, 2013 (March 31, 2012 - $830) as a result of this agreement. Other On March 1, 2011, we entered into a time sharing agreement for the lease of aircraft owned by AmTrust Underwriters, Inc. ("AUI"), a wholly owned subsidiary of AmTrust. The lease is for 10 months ending on December 31, 2011 and automatically renews for successive one-year terms unless terminated in accordance with the provisions of the agreement. Pursuant to the agreement, the Company will reimburse AUI for actual expenses incurred as allowed by Federal Aviation Regulations. For the three months ended March 31, 2013, the Company recorded an expense of $0 (March 31, 2012 - $19) for the use of the aircraft. ACAC The following describes transactions between the Company and ACAC and its subsidiaries: ACAC Quota Share Reinsurance Agreement Maiden Bermuda, effective March 1, 2010, reinsures 25% of the net premiums of the GMAC personal lines business, pursuant to a quota share reinsurance agreement (“ACAC Quota Share”) with the GMAC personal lines insurance companies, as cedents, and Maiden Bermuda, ACP Re Ltd., a Bermuda reinsurer which is a wholly-owned indirect subsidiary of the Annuity Trust, and AmTrust, as reinsurers. Maiden Bermuda has a 50% participation in the ACAC Quota Share, by which it receives 25% of net premiums of the personal lines automobile business. The ACAC Quota Share provides that the reinsurers, severally, in accordance with their participation percentages, shall receive 50% of the net premium of the GMAC personal lines insurance companies and assume 50% of the related net losses. The ACAC Quota Share has an initial term of three years and shall renew automatically for successive three year terms unless terminated by written notice not less than nine months prior to the expiration of the current term. Notwithstanding the foregoing, Maiden Bermuda's participation in the ACAC Quota Share may be terminated by ACAC on 60 days written notice in the event Maiden Bermuda becomes insolvent, is placed into receivership, its financial condition is impaired by 50% of the amount of its surplus at the inception of the ACAC Quota Share or latest anniversary, whichever is greater, is subject to a change of control, or ceases writing new and renewal business. ACAC also may terminate the agreement on nine months written notice following the effective date of initial public offering or private placement of stock by ACAC or a subsidiary. Maiden Bermuda may terminate its participation in the ACAC Quota Share on 60 days written notice in the event ACAC is subject to a change of control, ceases writing new and renewal business, effects a reduction in their net retention without Maiden Bermuda's consent or fails to remit premium as required by the terms of the ACAC Quota Share. 8. Related Party Transactions (continued) The ACAC Quota Share provided that the reinsurers paid a provisional ceding commission equal to 32.5% of ceded earned premium, net of premiums ceded by the personal lines companies for inuring reinsurance, subject to adjustment.The ceding commission was subject to adjustment to a maximum of 34.5% if the loss ratio for the reinsured business is 60.0% or less and a minimum of 30.5% if the loss ratio is 64.5% or greater. Effective October 1, 2012, the parties amended the reinsurance agreement to decrease the provisional ceding commission from 32.5% to 32.0% of ceded earned premium, net of premiums ceded by the personal lines companies for inuring reinsurance, subject to adjustment. The ceding commission is subject to adjustment to a maximum of 34.5% (no change) and a minimum of 30.0% (changed from 30.5%), if the loss ratio is 64.5% or greater. The Company believes that the terms, conditions and pricing of the ACAC Quota Share have been determined by arm's length negotiations and reflect current market terms and conditions. Maiden Bermuda recorded approximately $21,597 of ceding commission expense for the three months ended March 31, 2013 (March 31, 2012 - $20,177) as a result of this transaction. Other Effective September 12, 2012, our indirect wholly owned subsidiary, Maiden Re Insurance Services, LLC ("Maiden Re"), entered into a consulting agreement with Integon Association Management LLC ("Integon"), a wholly owned subsidiary of ACAC, pursuant to which Maiden Re has agreed to provide to Integon underwriting, and pricing support for a fee of $25 per month, and also a fee of $0.1 for each policy quote evaluation and an additional $0.1 for each policy re-quote evaluation. The initial term of this agreement is for a period of one year, unless terminated earlier by either party. This agreement shall be renewed automatically upon expiration of the initial term for successive one year periods, unless a party delivers written notice of non-renewal to the other party at least 120 days before the end of the initial term or any renewal term. The Company recorded $81 consulting fee income for the three months ended March 31, 2013. Maiden Specialty entered into a reinsurance arrangement with New South Insurance Company ("New South"), a wholly-owned subsidiary of ACAC. Pursuant to the agreement, Maiden Specialty cedes 100% of certain personal lines business to New South. On March 1, 2010, Maiden Specialty entered into a novation agreement with Motors and New South whereby New South replaced Motors as the reinsurer for all of this run-off business. For the three months ended March 31, 2013 and 2012, no premiums and commission were ceded to New South. In June 2011, the Company, through Maiden NA, issued $107,500 principal amount of 2011 Senior Notes due on June 15, 2041, which are fully and unconditionally guaranteed by the Company. The proceeds from the 2011 Senior Notes were used to repurchase on a pro rata basis $107,500 of the $260,000 outstanding Trust Preferred Securities. The Company offered all Trust Preferred Securities holders the option to have their securities repurchased on the same terms. ACP Re, Ltd. accepted the offer to repurchase its $79,066 in principal amount of Trust Preferred Securities on July 15, 2011. George Karfunkel purchased $25,000, and ACAC and AII each purchased $12,500, of the principal amount of the 2011 Senior Notes. The Company's Audit Committee reviewed and approved ACAC's, AII's, and George Karfunkel's participation in the 2011 Senior Notes offering. |
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The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Earnings per Common Share
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| Earnings per Common Share | Earnings per Common Share The following is a summary of the elements used in calculating basic and diluted earnings per common share:
As of March 31, 2013, 1,788,534 share options (March 31, 2012 - 2,079,180) were excluded from the calculation of diluted earnings per common share as they were anti-dilutive. |
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Shareholders' Equity
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| Shareholders' Equity | Shareholders' Equity Preference Shares - Series A On August 22, 2012, the Company issued six million 8.25% Preference Shares - Series A (the “Preference Shares”), par value $0.01 per share, at a price of $25 per share. The Company received net proceeds of $145,041 from its offering, after deducting expenses and underwriting discounts of $4,959. The Preference Shares have no stated maturity date and are redeemable in whole or in part at the option of the Company any time after August 29, 2017 at a redemption price of $25 per preference share plus any declared and unpaid dividends, without accumulation of any undeclared dividends. Dividends on the Preference Shares are non-cumulative. Consequently, in the event dividends are not declared on the Preference Shares for any dividend period, holders of Preference Shares will not be entitled to receive a dividend for such period, and such undeclared dividend will not accrue and will not be payable. The holders of Preference Shares will be entitled to receive dividend payments only when, as and if declared by the Company's Board of Directors or a duly authorized committee of the Board of Directors. Any such dividends will be payable from, and including, the date of original issue on a non-cumulative basis, quarterly in arrears. To the extent declared, these dividends will accumulate, with respect to each dividend period, in an amount per share equal to 8.25% of the $25 liquidation preference per annum. During any dividend period, so long as any Preference Shares remain outstanding, unless the full dividends for the latest completed dividend period on all outstanding Preference Shares have been declared and paid, no dividend shall be paid or declared on the common shares. The holders of the Preference Shares have no voting rights other than the right to elect up to two of directors if preference share dividends are not declared and paid for six or more dividend periods. During the three months ended March 31, 2013, the Company declared and paid $3,094 in preference share dividends. Accumulated Other Comprehensive Income The following tables set forth financial information regarding the changes in the balances of each component of accumulated other comprehensive income for the three months ended March 31, 2013 and 2012.
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The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Share Based Compensation
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Mar. 31, 2013
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| Share-based Compensation [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share Based Compensation | Share Based Compensation The Company’s 2007 Share Incentive Plan, as amended (the "Plan") provides for grants of share options, restricted shares and restricted share units. The total number of shares currently reserved for issuance under the Plan is 10,000,000 common shares. The Plan is administered by the Compensation Committee of the Board of Directors. Exercise prices of options will be established at or above the fair market value of the Company’s common shares at the date of grant. Under the Plan, unless otherwise determined by the Compensation Committee and provided in an award agreement, 25% of the options will become exercisable on the first anniversary of the grant date, with an additional 6.25% of the options vesting each quarter thereafter based on the grantee’s continued employment over a four-year period, and will expire ten years after grant date. Share Options The fair value of each option grant is separately estimated for each vesting date. The fair value of each option is amortized into compensation expense on a straight-line basis between the grant date for the award and each vesting date. The Company has estimated the fair value of all share option awards as of the date of the grant by applying the Black-Scholes-Merton multiple-option pricing valuation model. The application of this valuation model involves assumptions that are judgmental and highly sensitive in the determination of compensation expense. The adoption of ASC Topic 718 "Compensation - Stock Compensation" fair value method has resulted in share-based expenses (a component of salaries and benefits) in the amount of $309 for the three months ended March 31, 2013 (March 31, 2012 - $285). The key assumptions used in determining the fair value of options granted in the three months ended March 31, 2013 and a summary of the methodology applied to develop each assumption are as follows:
Expected Price Volatility — This is a measure of the amount by which a price has fluctuated or is expected to fluctuate. It was not possible to use actual experience to estimate the expected volatility of the price of the common shares in estimating the value of the options granted because the Company's common shares only began trading in May 2008, thus, it does not have enough history over which to calculate an expected volatility representative of the volatility over the expected lives of the options. As a substitute for such estimate, the Company blended its historical volatility with the historical volatilities of a set of comparable companies in the industry in which the Company operates. Risk-Free Interest Rate — This is the U.S. Treasury rate for the week of the grant having a term equal to the expected life of the option. An increase in the risk-free interest rate will increase compensation expense. Expected Lives — This is the period of time over which the options granted are expected to remain outstanding giving consideration to vesting schedules, historical exercise and forfeiture patterns. The Company uses the simplified method outlined in SEC Staff Accounting Bulletin No. 107 to estimate expected lives for options granted during the period as historical exercise data is not available and the options meet the requirements set out in the Bulletin. Options granted have a maximum term of ten years. An increase in the expected life will increase compensation expense. Forfeiture Rate — This is the estimated percentage of options granted that are expected to be forfeited or cancelled before becoming fully vested. An increase in the forfeiture rate will decrease compensation expense. Dividend Yield — This is calculated by dividing the expected annual dividend by the stock price of the Company at the valuation date. An increase in the dividend yield will decrease compensation expense. 11. Share Based Compensation (continued) The following schedule shows all options granted, exercised, expired and forfeited under the Plan for the three months ended March 31, 2013 and 2012.
The weighted average grant date fair value was $2.09 and $2.05 for all options outstanding at March 31, 2013 and December 31, 2012, respectively. There was approximately $1,304 and $1,528 of total unrecognized compensation cost related to non-vested share-based compensation arrangements as of March 31, 2013 and December 31, 2012, respectively. Performance-Based Restricted Share Units (PB-RSUs) The Compensation Committee of the Board of Directors (the "Committee") approved the formation of a long-term incentive program under the Plan on March 1, 2011. On that date, the Committee determined to award PB-RSUs to executive officers and senior Company employees. The formula for determining the amount of PB-RSUs awarded uses a combination of a percentage of the employee's base salary (based on a benchmarking analysis from our compensation consultant) divided by the closing price on NASDAQ Global Select Market of our common shares on that date. The grants are performance based which require that certain criteria such as return on equity, underwriting performance, revenue growth and operating expense be met during the performance period to attain a payout. Each metric has a corresponding weighted percentage with a target, threshold and maximum level of performance goal set to achieve a payout. Settlement of the grants can be made in either common shares or cash upon the decision of the Committee. The first performance cycle was for two years, 2011-2012, and subsequent performance cycles are for three years. For the years 2011-2012, no RSUs vested as the target level of performance was not met. Effective February 19, 2013, the Committee approved the award of PB-RSUs to executive officers and senior Company employees for the fiscal year 2013-2015. Consistent with the first performance cycle, certain criteria such as return on equity, underwriting performance, revenue growth and operating expense need to be met during the performance period to attain a payout. For the three months ended March 31, 2013, no accrual was recognized as the calculated weighted percentage of the performance results of the Company did not meet the target level. CEO Non-Performance-Based Restricted Share Units (NPB-RSUs) On March 1, 2012, the Committee approved an award of NPB-RSUs to the Company's CEO. The award consists of 86,705 restricted share units which will fully vest on December 31, 2013. Each share unit has a fair value of $8.56 which is being amortized over 22 months. On February 19, 2013, the Committee approved an award of NPB-RSUs to the Company's CEO. The award consists of 149,701 restricted share units, of which one-third automatically vest by February 19, 2014, of which one-third automatically vest by February 19, 2015, and of which one-third automatically vest by February 19, 2016. Each share unit has a fair value of $10.02 which is amortized over 36 months. 11. Share Based Compensation (continued) Non-CEO Discretionary NPB-RSUs On February 19, 2013, pursuant to the Plan, the Committee approved an award of NPB-RSUs to non-CEO named executive officers and senior leaders of the Company. The award consists of 94,229 restricted share units, 50% of which will vest on the first anniversary of the grant date, with an additional 50% vesting on the second anniversary of the grant date. Each share unit has a fair value of $10.02. |
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The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| Dividends Declared | Dividends Declared During the first quarter, the Company's Board of Directors authorized the following quarterly dividends payable to shareholders:
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Mar. 31, 2013
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| Subsequent Events | Subsequent Events Dividends On May 7, 2013, the Company's Board of Directors authorized the following quarterly dividends:
Sale of Renewal Rights and Underwriting Platform of Maiden's Excess and Surplus ("E&S") Property Business On April 22, 2013, Maiden together with Brit Insurance ("Brit") announced a temporary 100% quota share reinsurance of Maiden's E&S unit with Brit Global Specialty. This arrangement will shortly evolve into Brit assuming all renewal rights through Brit Global Specialty USA ("BGSU"). BGSU is Brit's U.S. based service company, accessing non-Lloyd's distribution channels. BGSU will ultimately be writing the renewals of the assumed business into Brit Syndicates 2987. Since Maiden is expecting continued significant cash flows related to the business written prior to the closing date, the sale of the E&S unit will not be considered as a "discontinued operation" in accordance with GAAP. |
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The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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Basis of Presentation - Summary of Significant Accounting Policies (Policies)
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Mar. 31, 2013
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| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Recent Accounting Pronouncements | Recently Adopted Accounting Standards Updates Comprehensive Income - Reporting of amounts reclassified out of Accumulated Other Comprehensive Income In February 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2013-02, which adds new disclosure requirements for items reclassified out of accumulated other comprehensive income. The ASU expands the current disclosure guidance by requiring entities to present separately, for each component of other comprehensive income, current period reclassifications out of accumulated other comprehensive income and other amounts of current period other comprehensive income. In addition, the ASU requires entities to present, either on the face of the statement where net income is presented or in the notes to the financial statements, significant amounts reclassified out of other comprehensive income by component of accumulated other comprehensive income. The new disclosure requirements are effective for fiscal years, and interim periods within those years, beginning after December 15, 2012. Early adoption of the guidance is permitted and shall be applied prospectively. The adoption of this guidance did not have any effect on the Company's results of operations, financial position or liquidity. Balance Sheet Offsetting In December 2011, the FASB issued new guidance requiring additional disclosures about financial instruments and derivative instruments that are either: (1) offset for balance sheet presentation purposes or (2) subject to an enforceable master netting arrangement or similar arrangement, regardless of whether they are offset for balance sheet presentation purposes. This guidance is effective at January 1, 2013, with retrospective presentation of the new disclosures required. As this new guidance is disclosure-related only and does not amend the existing balance sheet offsetting guidance, the adoption of this guidance did not have any effect on the Company's results of operations, financial position or liquidity. Qualitative Impairment Test For Indefinite-Lived Intangibles On July 27, 2012, the FASB issued final guidance adding an optional qualitative assessment for determining whether an indefinite-lived intangible asset is impaired. This ASU 2012-02 is similar to the goodwill guidance which allows companies to perform a qualitative assessment to test goodwill for impairment. This guidance gives companies the option to first perform a qualitative assessment to determine whether it is more likely than not (a likelihood of more than 50%) that an indefinite-lived intangible asset is impaired. If a company determines that it is more likely than not that the fair value of such asset exceeds its carrying amount, it would not need to calculate the fair value of the asset in that year. However, if a company concludes otherwise, it must calculate the fair value of the asset, compare that value with its carrying amount and record an impairment charge, if any. To perform a qualitative assessment, a company must identify and evaluate changes in economic, industry and company-specific events and circumstances that could affect the significant inputs used to determine the fair value of an indefinite-lived intangible asset. The guidance is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. Early adoption is permitted. The adoption of this guidance did not have any effect on the Company's results of operations, financial position or liquidity. 2. Recent Accounting Pronouncements (continued) Technical Corrections and Improvements In October 2012, FASB issued ASU 2012-04, Technical Corrections and Improvements. The amendments in this ASU represent changes to clarify the Codification, correct unintended application of guidance, or make minor improvements to the Codification that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. Additionally, the amendments will make the Codification easier to understand and the fair value measurement guidance easier to apply by eliminating inconsistencies and providing needed clarifications. Transition guidance is provided for amendments the FASB believes could change practice. The amendments in this ASU that will not have transition guidance will be effective upon issuance for both public and nonpublic entities. For public entities, the amendments that are subject to the transition guidance will be effective for fiscal periods beginning after December 15, 2012. The adoption of this guidance did not have any effect on the Company's results of operations, financial position or liquidity. Recently Issued Accounting Standards Updates Not Yet Adopted Parent's Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity In March 2013, FASB issued ASU 2013-05 with the objective of resolving the diversity about whether Accounting Standards Codification ("ASC") 810-10, Consolidation-Overall, or ASC 830-30, Foreign Currency Matters-Translation of Financial Statements, applies to the release of the cumulative translation adjustment into net income when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business (other than a sale of in substance real estate or conveyance of oil and gas mineral rights) within a foreign entity. Under this guidance, when a reporting entity that is also the parent entity, ceases to have a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business (other than a sale of in substance real estate or conveyance of oil and gas mineral rights) within a foreign entity, the parent is required to apply the guidance in ASC 830-30 to release any related cumulative translation adjustment into net income. Accordingly, the cumulative translation adjustment should be released into net income only if the sale or transfer results in the complete or substantially complete liquidation of the foreign entity in which the subsidiary or group of assets had resided. Additionally, for an equity method investment that is a foreign entity, the partial sale guidance in ASC 830-30-40 continues to be applicable. As such, a pro rata portion of the cumulative translation adjustment should be released into net income upon a partial sale of such an equity method investment. However, this treatment does not apply to an equity method investment that is not a foreign entity. In those instances, the cumulative translation adjustment is released into net income only if the partial sale represents a complete or substantially complete liquidation of the foreign entity that contains the equity method investment. Furthermore, the amendments in this ASU clarify that the sale of an investment in a foreign entity includes both (1) events that result in the loss of a controlling financial interest in a foreign entity (that is, irrespective of any retained investment) and (2) events that result in an acquirer obtaining control of an acquiree in which it held an equity interest immediately before the acquisition date (sometimes also referred to as a step acquisition). Accordingly, the cumulative translation adjustment should be released into net income upon the occurrence of those events. The amendments in this ASU are effective prospectively for fiscal years (and interim reporting periods within those years) beginning after December 15, 2013. The amendments should be applied prospectively to derecognition events occurring after the effective date. Prior periods should not be adjusted. Early adoption is permitted. The adoption of this guidance is not expected to have an impact on our results of operations, financial condition or liquidity. |
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Mar. 31, 2013
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Underwriting results of operating segments | The following tables summarize the underwriting results of our operating segments:
3. Segments (continued)
3. Segments (continued)
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| Net premiums by major line of business | The following tables set forth financial information relating to net premiums written and earned by major line of business for the three months ended March 31, 2013 and 2012:
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Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Investments (Tables)
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Mar. 31, 2013
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| Schedule of Investments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Original or amortized cost, estimated fair value and gross unrealized gains and losses of available-for-sale and other investments | The original or amortized cost, estimated fair value and gross unrealized gains and losses of available-for-sale fixed maturities and other investments as of March 31, 2013 and December 31, 2012 are as follows:
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| Contractual maturities of fixed maturities, available-for-sale | The contractual maturities of our fixed maturities, available-for-sale as of March 31, 2013 are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or repay obligations prior to contractual maturity.
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| Summary of available-for-sale securities and other investments in an unrealized loss position and the aggregate fair value and gross unrealized loss by length of time the securities have continuously been in an unrealized loss position | The following tables summarize our available-for-sale fixed maturities and other investments in an unrealized loss position and the aggregate fair value and gross unrealized loss by length of time the securities have continuously been in an unrealized loss position:
As of March 31, 2013, there were approximately 53 securities in an unrealized loss position with a fair value of $468,560 and unrealized losses of $6,343. Of these securities, there are 10 securities that have been in an unrealized loss position for 12 months or greater with a fair value of $158,125 and unrealized losses of $3,514.
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| Summary of the credit ratings of fixed maturities | The following summarizes the credit ratings of our fixed maturities:
*Ratings as assigned by Standard & Poor’s ("S&P") |
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| Portfolio of other investments | The table below shows our portfolio of other investments:
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| Analysis of realized and unrealized gains on investment | The following provides an analysis of realized and unrealized gains (losses) on investment for the three months ended March 31, 2013 and 2012:
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| Net unrealized gains on available-for-sale securities and other investments | Net unrealized gains on available-for-sale fixed maturities and other investments was as follows:
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| Fair value of restricted assets | The fair value of our restricted assets was as follows:
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Schedule of Investment Credit Ratings [Table Text Block] No definition available.
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Schedule of Investments Reconciliation [Table Text Block] No definition available.
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Schedule of Restricted Cash and Investments [Table Text Block] No definition available.
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Summary of Other Investments [Table Text Block] No definition available.
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Tabular disclosure of the realized and unrealized gains and losses reported in the statement of income which have resulted from the sale and holding of marketable securities, respectively, as well as the sale or disposal of cost method investments. Such amounts would include realized gains and losses on the sale or disposal of trading, available-for-sale, and held-to-maturity securities, unrealized gains and losses on trading securities, unrealized gains and losses on available-for-sale and held-to-maturity securities transferred to the trading securities category, realized gains and losses on the sale or disposal of cost method investments, and losses recognized for other than temporary impairments (OTTI) of such investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. No definition available.
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For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Tabular disclosure of unrealized gains and losses on investments. No definition available.
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Fair Value Measurements (Tables)
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Mar. 31, 2013
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair value hierarchy of financial assets and financial liabilities measured on a recurring basis | At March 31, 2013 and December 31, 2012, we classified our financial instruments measured at fair value on a recurring basis in the following valuation hierarchy:
5. Fair Value of Financial Instruments (continued)
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| Changes in Level 3 for financial instruments measured at fair value on a recurring basis | The following table presents changes in Level 3 for our financial instruments measured at fair value on a recurring basis for the three months ended March 31, 2013 and 2012:
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| Carrying values and fair values of the Senior Notes and Junior Subordinated debt | The following table presents the carrying values and fair values of the Senior Notes and Junior Subordinated debt as of March 31, 2013 and December 31, 2012:
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Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring and/or nonrecurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Goodwill and Intangible Assets (Tables)
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3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2013
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| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Analysis of goodwill and intangible assets | The following table shows an analysis of goodwill and intangible assets as of March 31, 2013 and December 31, 2012:
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| Estimated amortization expenses for the next five years | The estimated amortization expenses for the next five years are:
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of the estimated aggregate amortization expense for intangible assets subject to amortization for each of the five succeeding fiscal years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of goodwill and intangible assets, which may be broken down by segment or major class. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Earnings per Common Share (Tables)
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3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2013
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| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of elements used in calculating basic and diluted earnings per common share | The following is a summary of the elements used in calculating basic and diluted earnings per common share:
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- Details
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- Definition
Tabular disclosure of the reconciliation of basic net earnings per share (or unit) to diluted earnings per share (or unit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Shareholders' Equity Shareholders' Equity (Tables)
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3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2013
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| Stockholders' Equity Note [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of accumulated other comprehensive income | The following tables set forth financial information regarding the changes in the balances of each component of accumulated other comprehensive income for the three months ended March 31, 2013 and 2012.
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- Definition
Tabular disclosure of the components of accumulated other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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Share Based Compensation (Tables)
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3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2013
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| Share-based Compensation [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Key assumptions used in determining the fair value of options granted | The key assumptions used in determining the fair value of options granted in the three months ended March 31, 2013 and a summary of the methodology applied to develop each assumption are as follows:
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| Schedule of all options granted, exercised, expired and forfeited under the Plan | he following schedule shows all options granted, exercised, expired and forfeited under the Plan for the three months ended March 31, 2013 and 2012.
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| X | ||||||||||
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- Definition
Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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Subsequent Events Subsequent Events (Tables)
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3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2013
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| Subsequent Events [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of subsequent events | On May 7, 2013, the Company's Board of Directors authorized the following quarterly dividends:
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| X | ||||||||||
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- Definition
Tabular disclosure of significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, losses resulting from fire or flood, losses on receivables, significant realized and unrealized gains and losses that result from changes in quoted market prices of securities, declines in market prices of inventory, changes in authorized or issued debt (SEC), significant foreign exchange rate changes, substantial loans to insiders or affiliates, significant long-term investments, and substantial dividends not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Acquisition Cost Ratio No definition available.
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| X | ||||||||||
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- Definition
Combined Ratio No definition available.
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| X | ||||||||||
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- Definition
Corporate and Other Assets No definition available.
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| X | ||||||||||
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- Definition
General And Administrative Expense, Excluding Other No definition available.
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| X | ||||||||||
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- Definition
General and Administrative Expense Ratio No definition available.
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| X | ||||||||||
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- Definition
Investment Income and Gain (Loss) on Investments, Net No definition available.
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| X | ||||||||||
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- Definition
Net Loss and Loss Expense Ratio No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Net premiums earned less: net losses and loss expenses, acquisition costs and general and administrative expenses directly related to underwriting activities. No definition available.
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| X | ||||||||||
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- Definition
The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of deferred policy acquisition costs charged to expense in the period, generally in proportion to related revenue earned, estimated gross profits, or over the customer relationship or some other period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Net amount of deferred policy acquisition costs capitalized on contracts remaining in force as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Equity impact of aggregate cash, stock, and paid-in-kind dividends declared for preferred shareholders during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate foreign currency transaction gain (loss) (both realized and unrealized) included in determining net income for the reporting period. Excludes foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements. For certain enterprises, primarily banks, that are dealers in foreign exchange, foreign currency transaction gains (losses) may be disclosed as dealer gains (losses). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Funds held by the ceding insurer on behalf the reinsurer, including funds held in trust, under reinsurance treaties or contracts with the assuming insurer as security for the payment of the obligations thereunder, which represent an asset for the reinsurer. There is another concept for the corresponding liability of the ceding insurer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying amount of finite-lived intangible assets, indefinite-lived intangible assets and goodwill. Goodwill is an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Intangible assets are assets, not including financial assets, lacking physical substance. No definition available.
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| X | ||||||||||
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- Definition
Represents the portion of interest incurred in the period on debt arrangements that was charged against earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
For an unclassified balance sheet, reflects the carrying amount of unpaid loan amounts due from related parties at the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Number of operating segments. An operating segment is a component of an enterprise: (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same enterprise), (b) whose operating results are regularly reviewed by the enterprise's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and (c) for which discrete financial information is available. An operating segment may engage in business activities for which it has yet to earn revenues, for example, start-up operations may be operating segments before earning revenues. No definition available.
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| X | ||||||||||
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- Definition
The sum of expenses not otherwise specified in the taxonomy for managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Reflects the sum of all other revenue and income recognized by the entity in the period not otherwise specified in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Provision for benefits, claims and claims settlement expenses incurred during the period net of the effects of contracts assumed and ceded. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Premiums earned on the income statement for all insurance and reinsurance contracts after subtracting any amounts ceded to another insurer and adding premiums assumed from other insurers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The carrying amount as of the balance sheet date due the entity from (a) agents and insureds, (b) uncollected premiums and (c) others, net of the allowance for doubtful accounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Premiums written for all insurance and reinsurance contracts, after adding premiums assumed from other insurers and subtracting any amounts ceded to another insurer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The unexpired portion of premiums ceded on policies in force as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The known and estimated amount recoverable as of the balance sheet date from reinsurers for claims paid or incurred by the ceding insurer and associated claims settlement expenses, including estimated amounts for claims incurred but not reported, and policy benefits, net of any related valuation allowance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Cash and investments whose use in whole or in part is restricted for the long-term, generally by contractual agreements or regulatory requirements. For use in an unclassified balance sheet. No definition available.
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| X | ||||||||||
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- Details
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Segments - Net Premiums (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |
|---|---|---|
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Mar. 31, 2013
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Mar. 31, 2012
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| Segment Reporting Information [Line Items] | ||
| Net premiums written | $ 689,059 | $ 590,833 |
| % of Total Net premiums written | 100.00% | 100.00% |
| Net premiums earned | 488,442 | 438,496 |
| % of Total Net premiums earned | 100.00% | 100.00% |
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Diversified Reinsurance Segment [Member]
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| Segment Reporting Information [Line Items] | ||
| Net premiums written | 267,610 | 288,296 |
| % of Total Net premiums written | 38.80% | 48.80% |
| Net premiums earned | 196,249 | 204,463 |
| % of Total Net premiums earned | 40.20% | 46.60% |
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AmTrust Quota Share Reinsurance Segment [Member]
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| Segment Reporting Information [Line Items] | ||
| Net premiums written | 344,818 | 226,015 |
| % of Total Net premiums written | 50.10% | 38.30% |
| Net premiums earned | 220,288 | 167,879 |
| % of Total Net premiums earned | 45.00% | 38.30% |
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ACAC Quota Share Segment [Member]
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| Segment Reporting Information [Line Items] | ||
| Net premiums written | 76,631 | 76,522 |
| % of Total Net premiums written | 11.10% | 12.90% |
| Net premiums earned | 71,905 | 66,154 |
| % of Total Net premiums earned | 14.80% | 15.10% |
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Property [Member] | Diversified Reinsurance Segment [Member]
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||
| Segment Reporting Information [Line Items] | ||
| Net premiums written | 69,522 | 80,106 |
| % of Total Net premiums written | 10.10% | 13.60% |
| Net premiums earned | 47,547 | 58,148 |
| % of Total Net premiums earned | 9.70% | 13.30% |
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Casualty [Member] | Diversified Reinsurance Segment [Member]
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||
| Segment Reporting Information [Line Items] | ||
| Net premiums written | 148,423 | 151,939 |
| % of Total Net premiums written | 21.50% | 25.70% |
| Net premiums earned | 117,059 | 103,979 |
| % of Total Net premiums earned | 24.00% | 23.70% |
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Accident and Health [Member] | Diversified Reinsurance Segment [Member]
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||
| Segment Reporting Information [Line Items] | ||
| Net premiums written | 15,529 | 19,472 |
| % of Total Net premiums written | 2.20% | 3.30% |
| Net premiums earned | 8,633 | 10,644 |
| % of Total Net premiums earned | 1.80% | 2.40% |
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International [Member] | Diversified Reinsurance Segment [Member]
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||
| Segment Reporting Information [Line Items] | ||
| Net premiums written | 34,136 | 36,779 |
| % of Total Net premiums written | 5.00% | 6.20% |
| Net premiums earned | 23,010 | 31,692 |
| % of Total Net premiums earned | 4.70% | 7.20% |
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Small Commercial Business [Member] | AmTrust Quota Share Reinsurance Segment [Member]
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||
| Segment Reporting Information [Line Items] | ||
| Net premiums written | 162,018 | 90,292 |
| % of Total Net premiums written | 23.50% | 15.30% |
| Net premiums earned | 102,257 | 66,892 |
| % of Total Net premiums earned | 20.90% | 15.30% |
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Specialty Program [Member] | AmTrust Quota Share Reinsurance Segment [Member]
|
||
| Segment Reporting Information [Line Items] | ||
| Net premiums written | 34,946 | 22,188 |
| % of Total Net premiums written | 5.10% | 3.80% |
| Net premiums earned | 33,346 | 27,638 |
| % of Total Net premiums earned | 6.80% | 6.30% |
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Specialty Risk and Extended Warranty [Member] | AmTrust Quota Share Reinsurance Segment [Member]
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||
| Segment Reporting Information [Line Items] | ||
| Net premiums written | 147,854 | 113,535 |
| % of Total Net premiums written | 21.50% | 19.20% |
| Net premiums earned | 84,685 | 73,349 |
| % of Total Net premiums earned | 17.30% | 16.70% |
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Automobile Liability [Member] | ACAC Quota Share Segment [Member]
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||
| Segment Reporting Information [Line Items] | ||
| Net premiums written | 44,339 | 43,868 |
| % of Total Net premiums written | 6.40% | 7.40% |
| Net premiums earned | 41,630 | 38,137 |
| % of Total Net premiums earned | 8.60% | 8.70% |
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Automobile Physical Damage [Member] | ACAC Quota Share Segment [Member]
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||
| Segment Reporting Information [Line Items] | ||
| Net premiums written | 32,292 | 32,654 |
| % of Total Net premiums written | 4.70% | 5.50% |
| Net premiums earned | $ 30,275 | $ 28,017 |
| % of Total Net premiums earned | 6.20% | 6.40% |
| X | ||||||||||
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- Definition
Premiums Earned, Net as a Percent of Total No definition available.
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| X | ||||||||||
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- Definition
Premiums Written, Net as a Percent of Total No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Premiums earned on the income statement for all insurance and reinsurance contracts after subtracting any amounts ceded to another insurer and adding premiums assumed from other insurers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Premiums written for all insurance and reinsurance contracts, after adding premiums assumed from other insurers and subtracting any amounts ceded to another insurer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Investments - Schedule of Investments Reconciliation (Details) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Schedule of Investments [Line Items] | ||
| Fixed Maturities, available-for-sale, Amortized cost | $ 2,497,242 | $ 2,475,202 |
| Other Investments, Original or amortized cost | 2,987 | 2,599 |
| Total investments, Original or amortized cost | 2,500,229 | 2,477,801 |
| Available-for-sale securities, Gross unrealized gains | 138,888 | 151,460 |
| Other investments, Gross unrealized gains | 319 | 353 |
| Investments, Gross unrealized gains | 139,207 | 151,813 |
| Available-for-sale securities, Gross unrealized losses | (6,257) | (7,965) |
| Other investments, Gross unrealized losses | (86) | (51) |
| Investments, Gross unrealized losses | 6,343 | 8,016 |
| Total Investments, Fair Value | 2,629,873 | 2,618,697 |
| Other investments | 3,220 | 2,901 |
| Total investments | 2,633,093 | 2,621,598 |
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U.S. treasury bonds [Member]
|
||
| Schedule of Investments [Line Items] | ||
| Fixed Maturities, available-for-sale, Amortized cost | 42,644 | 42,671 |
| Available-for-sale securities, Gross unrealized gains | 1,084 | 1,260 |
| Available-for-sale securities, Gross unrealized losses | 0 | 0 |
| Total Investments, Fair Value | 43,728 | 43,931 |
|
U.S. agency bonds – mortgage-backed [Member]
|
||
| Schedule of Investments [Line Items] | ||
| Fixed Maturities, available-for-sale, Amortized cost | 972,653 | 962,649 |
| Available-for-sale securities, Gross unrealized gains | 27,720 | 30,998 |
| Available-for-sale securities, Gross unrealized losses | (1,370) | (1,473) |
| Total Investments, Fair Value | 999,003 | 992,174 |
|
U.S. agency bonds – other [Member]
|
||
| Schedule of Investments [Line Items] | ||
| Fixed Maturities, available-for-sale, Amortized cost | 11,682 | 11,682 |
| Available-for-sale securities, Gross unrealized gains | 1,293 | 1,407 |
| Available-for-sale securities, Gross unrealized losses | 0 | 0 |
| Total Investments, Fair Value | 12,975 | 13,089 |
|
Non-U.S. government bonds [Member]
|
||
| Schedule of Investments [Line Items] | ||
| Fixed Maturities, available-for-sale, Amortized cost | 54,325 | 55,169 |
| Available-for-sale securities, Gross unrealized gains | 1,365 | 2,264 |
| Available-for-sale securities, Gross unrealized losses | (415) | 0 |
| Total Investments, Fair Value | 55,275 | 57,433 |
|
Other mortgage-backed securities [Member]
|
||
| Schedule of Investments [Line Items] | ||
| Fixed Maturities, available-for-sale, Amortized cost | 22,837 | 23,167 |
| Available-for-sale securities, Gross unrealized gains | 664 | 901 |
| Available-for-sale securities, Gross unrealized losses | 0 | 0 |
| Total Investments, Fair Value | 23,501 | 24,068 |
|
Corporate bonds [Member]
|
||
| Schedule of Investments [Line Items] | ||
| Fixed Maturities, available-for-sale, Amortized cost | 1,259,474 | 1,247,260 |
| Available-for-sale securities, Gross unrealized gains | 105,417 | 113,386 |
| Available-for-sale securities, Gross unrealized losses | (4,472) | (6,492) |
| Total Investments, Fair Value | 1,360,419 | 1,354,154 |
|
Municipal bonds [Member]
|
||
| Schedule of Investments [Line Items] | ||
| Fixed Maturities, available-for-sale, Amortized cost | 133,627 | 132,604 |
| Available-for-sale securities, Gross unrealized gains | 1,345 | 1,244 |
| Available-for-sale securities, Gross unrealized losses | 0 | 0 |
| Total Investments, Fair Value | $ 134,972 | $ 133,848 |
| X | ||||||||||
|
- Definition
Investments, Gross Unrealized Gains No definition available.
|
| X | ||||||||||
|
- Definition
Investments, Gross Unrealized Losses No definition available.
|
| X | ||||||||||
|
- Definition
Investments, Original or Amortized Cost Basis No definition available.
|
| X | ||||||||||
|
- Definition
Other Investments, Gross Unrealized Gains No definition available.
|
| X | ||||||||||
|
- Definition
Other Investments, Gross Unrealized Losses No definition available.
|
| X | ||||||||||
|
- Definition
Other Investments, Original or Amortized Cost Basis No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the cost of debt securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of debt securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the gross unrealized gains for securities, at a point in time, which are categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the gross unrealized losses for securities, at a point in time, which are categorized neither as held-to-maturity nor trading securities. No definition available.
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Other investments not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Investments - Contractual Maturities (Details) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Schedule of Investments [Line Items] | ||
| Due in one year or less, Amortized cost | $ 97,965 | |
| Due after one year through five years, Amortized cost | 369,251 | |
| Due after five years through ten years, Amortized cost | 870,904 | |
| Due after ten years, Amortized cost | 163,632 | |
| Total before securities without single maturities, Amortized cost | 1,501,752 | |
| Total Amortized cost | 2,497,242 | |
| Due in one year or less, Fair value | 99,560 | |
| Due after one year through five years, Fair value | 388,212 | |
| Due after five years through ten years, Fair value | 953,033 | |
| Due after ten years, Fair value | 166,564 | |
| Total before securities without single maturities, Fair value | 1,607,369 | |
| Total Investments, Fair Value | 2,629,873 | 2,618,697 |
| Due in one year or less, % of Total fair value | 3.80% | |
| Due after one year through five years, % of Total fair value | 14.80% | |
| Due after five years through ten years, % of Total fair value | 36.20% | |
| Due after ten years, % of Total fair value | 6.30% | |
| Total before securities without single maturities, % of Total fair value | 61.10% | |
| % of Total fair value | 100.00% | 100.00% |
|
U.S. agency bonds – mortgage-backed [Member]
|
||
| Schedule of Investments [Line Items] | ||
| Amortized cost of securities without single maturities | 972,653 | |
| Fair value of securities without single maturities | 999,003 | |
| Total Investments, Fair Value | 999,003 | 992,174 |
| % of Total fair value for securities without single maturities | 38.00% | |
|
Other mortgage-backed securities [Member]
|
||
| Schedule of Investments [Line Items] | ||
| Amortized cost of securities without single maturities | 22,837 | |
| Fair value of securities without single maturities | 23,501 | |
| Total Investments, Fair Value | $ 23,501 | $ 24,068 |
| % of Total fair value for securities without single maturities | 0.90% |
| X | ||||||||||
|
- Definition
Available-for-sale Securities, Debt Maturities, after Ten Years, Percent of Total Fair Value No definition available.
|
| X | ||||||||||
|
- Definition
Available for Sale Securities, Debt Maturities, Before Securities Without Single Maturities No definition available.
|
| X | ||||||||||
|
- Definition
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Percent of Total Fair Value No definition available.
|
| X | ||||||||||
|
- Definition
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Fair Value, Percent of Total Fair Value No definition available.
|
| X | ||||||||||
|
- Definition
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Percent of Total Fair Value No definition available.
|
| X | ||||||||||
|
- Definition
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Percent of Total Fair Value No definition available.
|
| X | ||||||||||
|
- Definition
Available for Sale Securities, Debt Securities, Before Securities Without Debt Maturities No definition available.
|
| X | ||||||||||
|
- Definition
Available for Sale Securities, Debt Securities, Percent of Total Fair Value, Before Securities Without Debt Maturities No definition available.
|
| X | ||||||||||
|
- Definition
Available-for-sale Securities, Percent of Total Fair Value No definition available.
|
| X | ||||||||||
|
- Definition
Amount of available-for-sale debt securities at cost, net of adjustments, maturing in the sixth fiscal year through the tenth fiscal year following the latest fiscal year. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings (less any cumulative-effect adjustments, as defined) and fair value hedge accounting adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of available-for-sale debt securities at fair value maturing in the sixth fiscal year through the tenth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of available-for-sale debt securities at cost, net of adjustments, maturing in the second fiscal year through the fifth fiscal year following the latest fiscal year. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings (less any cumulative-effect adjustments, as defined) and fair value hedge accounting adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of available-for-sale debt securities at fair value maturing in the second fiscal year through the fifth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of available-for-sale debt securities at cost, net of adjustments, maturing after the tenth fiscal year following the latest fiscal year. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings (less any cumulative-effect adjustments, as defined) and fair value hedge accounting adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of available-for-sale debt securities at fair value maturing after the tenth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of available-for-sale debt securities at cost, net of adjustments, which include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings (less any cumulative-effect adjustments, as defined) and fair value hedge accounting adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of available-for-sale debt securities at cost, net of adjustments, maturing in the next fiscal year following the latest fiscal year. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings (less any cumulative-effect adjustments, as defined) and fair value hedge accounting adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of available-for-sale debt securities at fair value maturing in the next fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of available-for-sale debt securities at cost, net of adjustments, that do not have a single maturity date and which the entity has decided to disclose separately rather than allocating the cost over several maturity groupings. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings (less any cumulative-effect adjustments, as defined) and fair value hedge accounting adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of available-for-sale debt securities at fair value that do not have a single maturity date and which the entity has decided to disclose separately rather than allocating the fair value over several maturity groupings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of debt securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Investments - Fair Value and Unrealized Losses (Details) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2013
securities
|
Dec. 31, 2012
securities
|
|---|---|---|
| Fair value | ||
| Less than 12 months, Fair Value | $ 310,435 | $ 253,333 |
| 12 Months or More, Fair value | 158,125 | 143,853 |
| Total, Fair value | 468,560 | 397,186 |
| Unrealized losses | ||
| Less than 12 months, Unrealized losses | (2,829) | (2,571) |
| 12 Months or More, Unrealized losses | (3,514) | (5,445) |
| Total, Unrealized losses | (6,343) | (8,016) |
| Number of securities in loss position (in securities) | 53 | 32 |
| 12 Months or More, number of securities (in securities) | 10 | 9 |
|
U.S. agency bonds – mortgage-backed [Member]
|
||
| Fair value | ||
| Less than 12 Months, Fair value | 181,598 | 158,591 |
| 12 Months or More, Fair value | 11,633 | 0 |
| Total, Fair value | 193,231 | 158,591 |
| Unrealized losses | ||
| Less than 12 Months, Unrealized losses | (1,042) | (1,473) |
| 12 Months or More, Unrealized losses | (328) | 0 |
| Total, Unrealized losses | (1,370) | (1,473) |
|
Non-U.S. government bonds [Member]
|
||
| Fair value | ||
| Less than 12 Months, Fair value | 27,956 | |
| 12 Months or More, Fair value | 0 | |
| Total, Fair value | 27,956 | |
| Unrealized losses | ||
| Less than 12 Months, Unrealized losses | (415) | |
| 12 Months or More, Unrealized losses | 0 | |
| Total, Unrealized losses | (415) | |
|
Corporate bonds [Member]
|
||
| Fair value | ||
| Less than 12 Months, Fair value | 100,881 | 94,742 |
| 12 Months or More, Fair value | 144,214 | 141,842 |
| Total, Fair value | 245,095 | 236,584 |
| Unrealized losses | ||
| Less than 12 Months, Unrealized losses | (1,372) | (1,098) |
| 12 Months or More, Unrealized losses | (3,100) | (5,394) |
| Total, Unrealized losses | (4,472) | (6,492) |
|
Available-for-sale securities [Member]
|
||
| Fair value | ||
| Less than 12 Months, Fair value | 310,435 | 253,333 |
| 12 Months or More, Fair value | 155,847 | 141,842 |
| Total, Fair value | 466,282 | 395,175 |
| Unrealized losses | ||
| Less than 12 Months, Unrealized losses | (2,829) | (2,571) |
| 12 Months or More, Unrealized losses | (3,428) | (5,394) |
| Total, Unrealized losses | (6,257) | (7,965) |
|
Other investments [Member]
|
||
| Fair value | ||
| Less than 12 months, Fair Value | 0 | 0 |
| 12 Months or More, Fair value | 2,278 | 2,011 |
| Total, Fair value | 2,278 | 2,011 |
| Unrealized losses | ||
| Less than 12 months, Unrealized losses | 0 | 0 |
| 12 Months or More, Unrealized losses | (86) | (51) |
| Total, Unrealized losses | $ (86) | $ (51) |
| X | ||||||||||
|
- Definition
Investments, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses No definition available.
|
| X | ||||||||||
|
- Definition
Investments, Continuous Unrealized Loss Position, Aggregate Losses No definition available.
|
| X | ||||||||||
|
- Definition
Investments, Continuous Unrealized Loss Position, Fair Value No definition available.
|
| X | ||||||||||
|
- Definition
Investments, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses No definition available.
|
| X | ||||||||||
|
- Definition
Investments, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value No definition available.
|
| X | ||||||||||
|
- Definition
Investments, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value No definition available.
|
| X | ||||||||||
|
- Definition
Investments, Securities in Unrealized Loss Positions, 12 Months or More, Qualitative Disclosure, Number of Positions No definition available.
|
| X | ||||||||||
|
- Definition
Investments, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions No definition available.
|
| X | ||||||||||
|
- Definition
Amount of the excess of amortized cost basis over fair value of securities that have been in a loss position for twelve months or longer for securities which are categorized neither as held-to-maturity nor trading securities. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of the excess of amortized cost basis over fair value of securities in a loss position and categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
This item represents the aggregate fair value of investments in debt and equity securities in an unrealized loss position which are categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of the excess of amortized cost basis over fair value of securities that have been in a loss position for less than twelve months for securities categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the aggregate fair value of investments in debt and equity securities categorized neither as held-to-maturity nor trading securities that have been in a continuous unrealized loss position for less than twelve months. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the aggregate fair value of investments in debt and equity securities categorized neither as held-to-maturity nor trading securities that have been in a continuous unrealized loss position for twelve months or longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Investments - Credit Ratings (Details) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
||||
|---|---|---|---|---|---|---|
| Schedule of Available-for-sale Securities [Line Items] | ||||||
| Amortized cost | $ 2,497,242 | $ 2,475,202 | ||||
| Fair value | 2,629,873 | 2,618,697 | ||||
| % of Total fair value | 100.00% | 100.00% | ||||
|
U.S. treasury bonds [Member]
|
||||||
| Schedule of Available-for-sale Securities [Line Items] | ||||||
| Amortized cost | 42,644 | [1] | 42,671 | [1] | ||
| Fair value | 43,728 | [1] | 43,931 | [1] | ||
| % of Total fair value | 1.70% | [1] | 1.70% | [1] | ||
|
U.S. agency bonds [Member]
|
||||||
| Schedule of Available-for-sale Securities [Line Items] | ||||||
| Amortized cost | 984,335 | [1] | 974,331 | [1] | ||
| Fair value | 1,011,978 | [1] | 1,005,263 | [1] | ||
| % of Total fair value | 38.50% | [1] | 38.40% | [1] | ||
|
AAA [Member]
|
||||||
| Schedule of Available-for-sale Securities [Line Items] | ||||||
| Amortized cost | 170,398 | [1] | 171,136 | [1] | ||
| Fair value | 180,366 | [1] | 183,950 | [1] | ||
| % of Total fair value | 6.90% | [1] | 7.00% | [1] | ||
|
AA Plus, AA, AA Minus [Member]
|
||||||
| Schedule of Available-for-sale Securities [Line Items] | ||||||
| Amortized cost | 175,773 | [1] | 186,495 | [1] | ||
| Fair value | 184,189 | [1] | 196,797 | [1] | ||
| % of Total fair value | 7.00% | [1] | 7.50% | [1] | ||
|
A Plus, A, A Minus [Member]
|
||||||
| Schedule of Available-for-sale Securities [Line Items] | ||||||
| Amortized cost | 466,591 | [1] | 477,236 | [1] | ||
| Fair value | 503,336 | [1] | 515,383 | [1] | ||
| % of Total fair value | 19.10% | [1] | 19.70% | [1] | ||
|
BBB Plus, BBB, BBB Minus [Member]
|
||||||
| Schedule of Available-for-sale Securities [Line Items] | ||||||
| Amortized cost | 619,006 | [1] | 587,858 | [1] | ||
| Fair value | 665,452 | [1] | 637,089 | [1] | ||
| % of Total fair value | 25.30% | [1] | 24.30% | [1] | ||
|
BB Plus or Lower [Member]
|
||||||
| Schedule of Available-for-sale Securities [Line Items] | ||||||
| Amortized cost | 38,495 | [1] | 35,475 | [1] | ||
| Fair value | $ 40,824 | [1] | $ 36,284 | [1] | ||
| % of Total fair value | 1.50% | [1] | 1.40% | [1] | ||
|
||||||
| X | ||||||||||
|
- Definition
Available-for-sale Securities, Percent of Total Fair Value No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the cost of debt securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of debt securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Investments - Other Investments (Details) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Schedule of Investments [Line Items] | ||
| Other investments | $ 3,220 | $ 2,901 |
| % of Total fair value | 100.00% | 100.00% |
|
Investments in limited partnerships [Member]
|
||
| Schedule of Investments [Line Items] | ||
| Other investments | 3,220 | 2,901 |
| % of Total fair value | 100.00% | 100.00% |
| Unfunded commitment on investments in limited partnerships | $ 2,780 |
| X | ||||||||||
|
- Definition
Other Commitment, Unfunded No definition available.
|
| X | ||||||||||
|
- Definition
Other Investments, Percent of Total Fair Value No definition available.
|
| X | ||||||||||
|
- Definition
Other investments not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Investments - Realized and Unrealized Gains on Investment (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 12 Months Ended | |
|---|---|---|---|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
Dec. 31, 2012
|
|
| Gain (Loss) on Investments [Line Items] | |||
| Gross gains | $ 11 | ||
| Gross losses | (1) | ||
| Realized gains (losses), Net | 10 | ||
| Unrealized gain, Gross gains | 1,355 | ||
| Unrealized gain, Gross losses | 0 | ||
| Unrealized gain, Net | 1,355 | ||
| Gross realized and unrealized gains | 3,283 | 1,366 | |
| Gross realized and unrealized losses | 0 | (1) | |
| Net realized and unrealized gains on investment | 3,283 | 1,365 | |
| Proceeds from sales of fixed maturities classified as available-for-sale | 45,379 | 104,125 | |
| Net unrealized gains | 132,864 | 143,797 | |
| Deferred income tax expense | (128) | (132) | |
| Net unrealized gains, net of deferred income tax | 132,736 | 143,665 | |
| Change in net unrealized gains, net of deferred income tax | (10,929) | 79,928 | |
|
Available-for-sale securities [Member]
|
|||
| Gain (Loss) on Investments [Line Items] | |||
| Gross gains | 3,112 | ||
| Gross losses | 0 | ||
| Realized gains (losses), Net | 3,112 | ||
| Net unrealized gains | 132,631 | 143,495 | |
|
Other investments [Member]
|
|||
| Gain (Loss) on Investments [Line Items] | |||
| Gross gains | 171 | 11 | |
| Gross losses | 0 | (1) | |
| Realized gains (losses), Net | 171 | 10 | |
| Net unrealized gains | $ 233 | $ 302 | |
| X | ||||||||||
|
- Definition
Gross Realized Gains No definition available.
|
| X | ||||||||||
|
- Definition
Gross Realized Losses No definition available.
|
| X | ||||||||||
|
- Definition
Gross Unrealized Gains on Investments No definition available.
|
| X | ||||||||||
|
- Definition
Gross Unrealized Losses of Investments No definition available.
|
| X | ||||||||||
|
- Definition
Investments, Change in Gross Unrealized Gain (Loss), Net of Deferred Income Tax Expense No definition available.
|
| X | ||||||||||
|
- Definition
Investments, Gross Gains No definition available.
|
| X | ||||||||||
|
- Definition
Investments, Gross Losses No definition available.
|
| X | ||||||||||
|
- Definition
Investments, Gross Unrealized Gain (Loss) No definition available.
|
| X | ||||||||||
|
- Definition
Investments, Gross Unrealized Gain (Loss), Net of Deferred Income Tax Expense No definition available.
|
| X | ||||||||||
|
- Definition
Amount of deferred tax liability attributable to taxable temporary differences from capitalized costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the sale of debt securities classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the total realized gain (loss) included in earnings for the period as a result of selling marketable securities categorized as trading, available-for-sale, or held-to-maturity and any gains or losses realized during the period from the sale of investments accounted for under the cost method of accounting and/or investments that are separately or otherwise not categorized as trading, available-for-sale, or held-to-maturity. Additionally, this item would include any losses recognized for other than temporary impairments (OTTI) of the subject investments in debt and equity securities. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of investments, not including unrealized gains or losses on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity, held at each balance sheet date and included in earnings for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Investments - Restricted Cash and Investments (Details) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Restricted Cash and Investments Items [Line Items] | ||
| Restricted cash | $ 127,316 | $ 132,327 |
| Restricted investments | 1,954,747 | 2,034,991 |
| Restricted cash and investments | 2,082,063 | 2,167,318 |
| Amortized cost | 2,500,229 | 2,477,801 |
|
Third party agreements [Member]
|
||
| Restricted Cash and Investments Items [Line Items] | ||
| Restricted cash | 86,715 | 97,695 |
| Restricted investments | 1,011,229 | 1,101,971 |
| Amortized cost | 961,998 | 1,048,827 |
|
Related party agreements [Member]
|
||
| Restricted Cash and Investments Items [Line Items] | ||
| Restricted cash | 39,884 | 33,882 |
| Restricted investments | 930,123 | 919,557 |
| Amortized cost | 864,012 | 851,873 |
|
US state regulatory authorities [Member]
|
||
| Restricted Cash and Investments Items [Line Items] | ||
| Restricted cash | 717 | 750 |
| Restricted investments | 13,395 | 13,463 |
| Amortized cost | $ 12,740 | $ 12,744 |
| X | ||||||||||
|
- Definition
Investments, Original or Amortized Cost Basis No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. This element is for unclassified presentations; for classified presentations there is a separate and distinct element. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Cash and investments whose use in whole or in part is restricted for the long-term, generally by contractual agreements or regulatory requirements. For use in an unclassified balance sheet. No definition available.
|
| X | ||||||||||
|
- Definition
Investments which are not defined as or included in marketable (debt, equity, or other) securities whose use is restricted in whole or in part, generally by contractual agreements or regulatory requirements. For use in an unclassified balance sheet. No definition available.
|
|
Fair Value Measurements - Fair Value Hierarchy (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Mar. 31, 2013
|
Dec. 31, 2012
|
Mar. 31, 2013
Other investments [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
U.S. treasury bonds [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
U.S. treasury bonds [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
U.S. agency bonds – mortgage-backed [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
U.S. agency bonds – mortgage-backed [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
U.S. agency bonds – other [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
U.S. agency bonds – other [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Non-U.S. government bonds [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Non-U.S. government bonds [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Other mortgage-backed securities [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Other mortgage-backed securities [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Corporate bonds [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Corporate bonds [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Municipal bonds [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Municipal bonds [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Significant Other Observable Inputs (Level 2) [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Significant Other Observable Inputs (Level 2) [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Significant Other Observable Inputs (Level 2) [Member]
U.S. treasury bonds [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Significant Other Observable Inputs (Level 2) [Member]
U.S. treasury bonds [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Significant Other Observable Inputs (Level 2) [Member]
U.S. agency bonds – mortgage-backed [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Significant Other Observable Inputs (Level 2) [Member]
U.S. agency bonds – mortgage-backed [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Significant Other Observable Inputs (Level 2) [Member]
U.S. agency bonds – other [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Significant Other Observable Inputs (Level 2) [Member]
U.S. agency bonds – other [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Significant Other Observable Inputs (Level 2) [Member]
Non-U.S. government bonds [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Significant Other Observable Inputs (Level 2) [Member]
Non-U.S. government bonds [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Significant Other Observable Inputs (Level 2) [Member]
Other mortgage-backed securities [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Significant Other Observable Inputs (Level 2) [Member]
Other mortgage-backed securities [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Significant Other Observable Inputs (Level 2) [Member]
Corporate bonds [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Significant Other Observable Inputs (Level 2) [Member]
Corporate bonds [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Significant Other Observable Inputs (Level 2) [Member]
Municipal bonds [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Significant Other Observable Inputs (Level 2) [Member]
Municipal bonds [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Significant Unobservable Inputs (Level 3) [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Significant Unobservable Inputs (Level 3) [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Significant Unobservable Inputs (Level 3) [Member]
U.S. treasury bonds [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Significant Unobservable Inputs (Level 3) [Member]
U.S. treasury bonds [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Significant Unobservable Inputs (Level 3) [Member]
U.S. agency bonds – mortgage-backed [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Significant Unobservable Inputs (Level 3) [Member]
U.S. agency bonds – mortgage-backed [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Significant Unobservable Inputs (Level 3) [Member]
U.S. agency bonds – other [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Significant Unobservable Inputs (Level 3) [Member]
U.S. agency bonds – other [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Significant Unobservable Inputs (Level 3) [Member]
Non-U.S. government bonds [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Significant Unobservable Inputs (Level 3) [Member]
Non-U.S. government bonds [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Significant Unobservable Inputs (Level 3) [Member]
Other mortgage-backed securities [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Significant Unobservable Inputs (Level 3) [Member]
Other mortgage-backed securities [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Significant Unobservable Inputs (Level 3) [Member]
Corporate bonds [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Significant Unobservable Inputs (Level 3) [Member]
Corporate bonds [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Significant Unobservable Inputs (Level 3) [Member]
Municipal bonds [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Significant Unobservable Inputs (Level 3) [Member]
Municipal bonds [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Total Fair Value [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Total Fair Value [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Total Fair Value [Member]
Fixed Maturities [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Total Fair Value [Member]
U.S. treasury bonds [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Total Fair Value [Member]
U.S. treasury bonds [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Total Fair Value [Member]
U.S. agency bonds – mortgage-backed [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Total Fair Value [Member]
U.S. agency bonds – mortgage-backed [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Total Fair Value [Member]
U.S. agency bonds – other [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Total Fair Value [Member]
U.S. agency bonds – other [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Total Fair Value [Member]
Non-U.S. government bonds [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Total Fair Value [Member]
Non-U.S. government bonds [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Total Fair Value [Member]
Other mortgage-backed securities [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Total Fair Value [Member]
Other mortgage-backed securities [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Total Fair Value [Member]
Corporate bonds [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Total Fair Value [Member]
Corporate bonds [Member]
|
Mar. 31, 2013
Fair Value, Measurements, Recurring [Member]
Total Fair Value [Member]
Municipal bonds [Member]
|
Dec. 31, 2012
Fair Value, Measurements, Recurring [Member]
Total Fair Value [Member]
Municipal bonds [Member]
|
|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fixed maturities, fair value | $ 43,728 | $ 43,931 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 999,003 | $ 992,174 | $ 12,975 | $ 13,089 | $ 55,275 | $ 57,433 | $ 23,501 | $ 24,068 | $ 1,360,419 | $ 1,354,154 | $ 134,972 | $ 133,848 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 43,728 | $ 43,931 | $ 999,003 | $ 992,174 | $ 12,975 | $ 13,089 | $ 55,275 | $ 57,433 | $ 23,501 | $ 24,068 | $ 1,360,419 | $ 1,354,154 | $ 134,972 | $ 133,848 | ||||||||||||
| Other investments, fair value | 0 | 0 | 0 | 0 | 3,220 | 2,901 | 3,220 | 2,901 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total assets fair value | 43,728 | 43,931 | 2,586,145 | 2,574,766 | 3,220 | 2,901 | 2,633,093 | 2,621,598 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Percentage of total assets | 1.00% | 1.10% | 58.50% | 62.20% | 0.10% | 0.10% | 59.60% | 63.40% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Percent of fixed maturities valued by a pricing service | 99.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other investments | $ 3,220 | $ 2,901 | $ 3,220 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other investments, percent of assets | 0.10% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Assets, Fair Value Disclosure, Valued by Third Party, Percentage No definition available.
|
| X | ||||||||||
|
- Definition
Other Investments, Fair Value Disclosure No definition available.
|
| X | ||||||||||
|
- Definition
Other Investments, Fair Value Disclosure, Percent of Assets No definition available.
|
| X | ||||||||||
|
- Definition
Percent of Assets Measured at Fair Value to Total Assets No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the aggregate of the assets reported on the balance sheet at period end measured at fair value by the entity. This element is intended to be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents Available-for-sale Securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities which are categorized as Available-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Other investments not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Fair Value Measurements - Changes in Level 3 Financial Instruments (Details) (Fair Value, Measurements, Recurring [Member], Significant Unobservable Inputs (Level 3) [Member], USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
|
|
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
| Balance at beginning of period | $ 2,901 | $ 2,192 |
| Net realized and unrealized gains – included in net income | 171 | 10 |
| Net realized and unrealized losses – included in net income | 0 | 0 |
| Change in net unrealized gains – included in other comprehensive income | 0 | 12 |
| Change in net unrealized losses – included in other comprehensive income | (69) | 0 |
| Purchases | 290 | 308 |
| Sales and redemptions | (73) | (92) |
| Transfers into Level 3 | 0 | 0 |
| Transfers out of Level 3 | 0 | 0 |
| Balance at end of period | 3,220 | 2,430 |
| Level 3 gains (losses) included in net income attributable to the change in unrealized gains (losses) relating to assets held at the reporting date | $ 0 | $ 0 |
| X | ||||||||||
|
- Definition
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gains (Losses) Included in Net Income Attributable to The Change in Unrealized Gains (Losses) No definition available.
|
| X | ||||||||||
|
- Definition
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales and Redemptions No definition available.
|
| X | ||||||||||
|
- Definition
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Unrealized Gains Included in Earnings No definition available.
|
| X | ||||||||||
|
- Definition
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Unrealized Gains Included in Other Comprehensive Income (Loss) No definition available.
|
| X | ||||||||||
|
- Definition
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Unrealized Losses Included in Earnings No definition available.
|
| X | ||||||||||
|
- Definition
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Unrealized Losses Included in Other Comprehensive Income (Loss) No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Purchases that have taken place during the period in relation to assets measured at fair value and categorized within Level 3 of the fair value hierarchy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Transfers into assets measured at fair value and categorized within Level 3 of the fair value hierarchy that have taken place during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Transfers out of assets measured at fair value and categorized within Level 3 of the fair value hierarchy that have taken place during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents an asset measured at fair value using significant unobservable inputs (Level 3) which is required for reconciliation purposes of beginning and ending balances. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Fair Value Measurements - Fair Value of Liabilities (Details) (USD $)
In Thousands, unless otherwise specified |
Jun. 30, 2011
Senior notes [Member]
8.25% Senior note [Member]
|
Mar. 31, 2012
Senior notes [Member]
8.00% Senior note [Member]
|
Mar. 31, 2013
Senior notes [Member]
Significant Other Observable Inputs (Level 2) [Member]
8.25% Senior note [Member]
|
Mar. 31, 2013
Senior notes [Member]
Significant Other Observable Inputs (Level 2) [Member]
8.00% Senior note [Member]
|
Mar. 31, 2013
Junior subordinated debt [Member]
Significant Other Observable Inputs (Level 2) [Member]
|
Mar. 31, 2013
Carrying Value
Senior notes [Member]
Significant Other Observable Inputs (Level 2) [Member]
8.25% Senior note [Member]
|
Dec. 31, 2012
Carrying Value
Senior notes [Member]
Significant Other Observable Inputs (Level 2) [Member]
8.25% Senior note [Member]
|
Mar. 31, 2013
Carrying Value
Senior notes [Member]
Significant Other Observable Inputs (Level 2) [Member]
8.00% Senior note [Member]
|
Dec. 31, 2012
Carrying Value
Senior notes [Member]
Significant Other Observable Inputs (Level 2) [Member]
8.00% Senior note [Member]
|
Mar. 31, 2013
Carrying Value
Junior subordinated debt [Member]
Significant Other Observable Inputs (Level 2) [Member]
|
Dec. 31, 2012
Carrying Value
Junior subordinated debt [Member]
Significant Other Observable Inputs (Level 2) [Member]
|
Mar. 31, 2013
Fair Value [Member]
Senior notes [Member]
Significant Other Observable Inputs (Level 2) [Member]
8.25% Senior note [Member]
|
Dec. 31, 2012
Fair Value [Member]
Senior notes [Member]
Significant Other Observable Inputs (Level 2) [Member]
8.25% Senior note [Member]
|
Mar. 31, 2013
Fair Value [Member]
Senior notes [Member]
Significant Other Observable Inputs (Level 2) [Member]
8.00% Senior note [Member]
|
Dec. 31, 2012
Fair Value [Member]
Senior notes [Member]
Significant Other Observable Inputs (Level 2) [Member]
8.00% Senior note [Member]
|
Mar. 31, 2013
Fair Value [Member]
Junior subordinated debt [Member]
Significant Other Observable Inputs (Level 2) [Member]
|
Dec. 31, 2012
Fair Value [Member]
Junior subordinated debt [Member]
Significant Other Observable Inputs (Level 2) [Member]
|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||
| Stated interest rate | 8.25% | 8.00% | 8.25% | 8.00% | 14.00% | ||||||||||||
| Fair value | $ 107,500 | $ 107,500 | $ 100,000 | $ 100,000 | $ 126,332 | $ 126,317 | $ 115,455 | $ 112,832 | $ 108,200 | $ 105,600 | $ 163,585 | $ 166,919 |
| X | ||||||||||
|
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Goodwill and Intangible Assets (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 3 Months Ended | 12 Months Ended | ||||
|---|---|---|---|---|---|---|---|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
Dec. 31, 2012
|
Mar. 31, 2013
Customer relationships [Member]
|
Dec. 31, 2012
Customer relationships [Member]
|
Mar. 31, 2013
State licenses [Member]
|
Dec. 31, 2012
State licenses [Member]
|
|
| Goodwill and Intangible Assets [Line Items] | |||||||
| Goodwill | $ 58,312 | $ 58,312 | |||||
| State licenses | 7,727 | 7,727 | |||||
| Customer relationships, Gross | 51,400 | 51,400 | |||||
| Accumulated Amortization | (23,991) | (23,046) | (23,991) | (23,046) | |||
| Customer relationships, Net | 27,409 | 28,354 | |||||
| Balance, gross | 117,439 | 117,439 | |||||
| Balance, net | 93,448 | 94,393 | |||||
| Useful Life | 15 years | 15 years | |||||
| Impairment of goodwill and intangible assets | 0 | 0 | |||||
| Estimated amortization expenses for the next five years [Abstract] | |||||||
| 2013 | 2,836 | ||||||
| 2014 | 3,276 | ||||||
| 2015 | 2,840 | ||||||
| 2016 | 2,461 | ||||||
| 2017 | $ 2,133 | ||||||
| X | ||||||||||
|
- Definition
Goodwill and Intangible Assets, Gross No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of amortization expense expected to be recognized in the remainder of the fiscal year following the latest fiscal year ended for assets, excluding financial assets and goodwill, lacking physical substance with a finite life. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of amortization expense expected to be recognized during the fifth fiscal year following the latest fiscal year for assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of amortization expense expected to be recognized during the fourth fiscal year following the latest fiscal year for assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of amortization expense expected to be recognized during the third fiscal year following the latest fiscal year for assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of amortization expense expected to be recognized during the second fiscal year following the latest fiscal year for assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount before amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total loss recognized during the period from the impairment of goodwill plus the loss recognized in the period resulting from the impairment of the carrying amount of intangible assets, other than goodwill. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount of assets (excluding financial assets) that lack physical substance, excluding goodwill, having a projected indefinite period of benefit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount of finite-lived intangible assets, indefinite-lived intangible assets and goodwill. Goodwill is an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Intangible assets are assets, not including financial assets, lacking physical substance. No definition available.
|
|
Long-Term Debt (Details) (USD $)
|
3 Months Ended | 1 Months Ended | 3 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
Dec. 31, 2012
|
Jan. 20, 2009
Maiden Capital Financing Trust [Member]
|
Jun. 30, 2011
Senior notes [Member]
8.25% Senior note [Member]
|
Mar. 31, 2013
Senior notes [Member]
8.25% Senior note [Member]
|
Mar. 31, 2012
Senior notes [Member]
8.25% Senior note [Member]
|
Dec. 31, 2012
Senior notes [Member]
8.25% Senior note [Member]
|
Mar. 31, 2012
Senior notes [Member]
8.00% Senior note [Member]
|
Mar. 31, 2012
Senior notes [Member]
8.00% Senior note [Member]
|
Mar. 31, 2013
Senior notes [Member]
8.00% Senior note [Member]
|
Jul. 15, 2011
Junior subordinated debt [Member]
Trust Preferred Securities [Member]
|
Jan. 20, 2009
Junior subordinated debt [Member]
Trust Preferred Securities [Member]
|
Jun. 30, 2011
Junior subordinated debt [Member]
Trust Preferred Securities [Member]
|
Mar. 31, 2013
Junior subordinated debt [Member]
Trust Preferred Securities [Member]
|
Mar. 31, 2012
Junior subordinated debt [Member]
Trust Preferred Securities [Member]
|
Dec. 31, 2012
Junior subordinated debt [Member]
Trust Preferred Securities [Member]
|
Jan. 20, 2009
Junior subordinated debt [Member]
Trust Preferred Securities [Member]
Founding Shareholders [Member]
|
Jan. 20, 2009
Junior subordinated debt [Member]
Trust Preferred Securities [Member]
Institutional Shareholders [Member]
|
Mar. 31, 2013
Junior subordinated debt [Member]
Trust Preferred Securities [Member]
Maiden Capital Financing Trust [Member]
|
Jan. 20, 2009
Junior subordinated debt [Member]
Trust Preferred Securities [Member]
Maiden Capital Financing Trust [Member]
Unit
|
|
| Debt Instrument [Line Items] | |||||||||||||||||||||
| Face amount | $ 107,500,000 | $ 107,500,000 | $ 100,000,000 | $ 100,000,000 | $ 260,000,000 | ||||||||||||||||
| Stated interest rate | 8.25% | 8.00% | 8.00% | 14.00% | |||||||||||||||||
| Portion redeemable for cash at maturity | 100.00% | 100.00% | 100.00% | ||||||||||||||||||
| Minimum redemption notice period | 30 days | ||||||||||||||||||||
| Effective interest rate | 8.47% | 8.28% | 8.28% | 16.95% | |||||||||||||||||
| Proceeds from issuance | 104,689,000 | 96,594,000 | |||||||||||||||||||
| Debt issuance costs | 2,811,000 | 3,406,000 | 4,342,000 | ||||||||||||||||||
| Amortization of financing costs | 23,000 | 23,000 | 1,000 | 28,000 | |||||||||||||||||
| Interest expense | 9,570,000 | 7,678,000 | 2,217,000 | 2,217,000 | 111,000 | 2,000,000 | 5,337,000 | 5,337,000 | |||||||||||||
| Accrued interest | 394,000 | 394,000 | 111,000 | 111,000 | 111,000 | 4,448,000 | 4,448,000 | ||||||||||||||
| Number of units issued (in units) | 260,000 | ||||||||||||||||||||
| Principal amount per unit (in dollars per unit) | 1,000 | ||||||||||||||||||||
| Number of common shares per unit (in shares per unit) | 45 | ||||||||||||||||||||
| Common shares, par value | $ 0.01 | $ 0.01 | $ 0.01 | ||||||||||||||||||
| Purchase price per unit (in dollars per unit) | 1,000.45 | ||||||||||||||||||||
| Number of common shares included in units issued (in shares) | 11,700,000 | ||||||||||||||||||||
| Proceeds from issuance | 260,117,000 | ||||||||||||||||||||
| Number of units purchased (in shares) | 159,000 | 101,000 | |||||||||||||||||||
| Portion of units purchased by certain trusts | 61.12% | ||||||||||||||||||||
| Period in which if the principal is paid in full, additional interest will be due | 5 years | ||||||||||||||||||||
| Period used to calculate additional interest for early repurchase | 1 year | ||||||||||||||||||||
| Principal amount repurchased | 107,500,000 | ||||||||||||||||||||
| Additional repurchase expense | 21,350,000 | ||||||||||||||||||||
| Unamortized discount | 44,928,000 | ||||||||||||||||||||
| Market price (in dollars per share) | $ 3.85 | ||||||||||||||||||||
| Discount amortization period from issuance | 30 years | ||||||||||||||||||||
| Repurchase interest expense amount | 15,050,000 | ||||||||||||||||||||
| Accelerated amortization of debt issuance costs and discount | 20,313,000 | ||||||||||||||||||||
| Junior subordinated debt | 126,332,000 | 126,317,000 | 126,332,000 | ||||||||||||||||||
| Principal balance | 152,500,000 | ||||||||||||||||||||
| Unamortized discount | 26,168,000 | ||||||||||||||||||||
| Amortization expense | $ 15,000 | $ 13,000 | |||||||||||||||||||
| X | ||||||||||
|
- Definition
Accelerated Amortization of Debt Discount and Issuance Cost, Junior Subordinated Debentures No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument, Additional Repurchase Expense if Principal is Paid Within Defined Criteria No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument, Discount Amortization Period No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument, Minimum Redemption Notice Period of Previous Debt Instrument No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument, Period in Which if the Principal is Paid in Full, Additional Interest Will Be Due No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument, Period Used to Calculate Additional Interest if Principal is Paid in Full Within Defined Criteria No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument, Portion Redeemable for Cash at Maturity, Percentage No definition available.
|
| X | ||||||||||
|
- Definition
Financial Instrument, Number of Common Shares Included in Units Issued No definition available.
|
| X | ||||||||||
|
- Definition
Financial Instrument, Number of Common Shares per Unit No definition available.
|
| X | ||||||||||
|
- Definition
Financial Instrument, Number of Units Issued No definition available.
|
| X | ||||||||||
|
- Definition
Financial Instrument, Number of Units Purchased No definition available.
|
| X | ||||||||||
|
- Definition
Financial Instrument, Portion of Units Purchased by Certain Trusts No definition available.
|
| X | ||||||||||
|
- Definition
Financial Instrument, Principal Amount Per Unit No definition available.
|
| X | ||||||||||
|
- Definition
Financial Instrument, Purchase Price per Unit No definition available.
|
| X | ||||||||||
|
- Definition
Junior Subordinated Notes, Principal Balance No definition available.
|
| X | ||||||||||
|
- Definition
Junior Subordinated Notes, Unamortized Discount No definition available.
|
| X | ||||||||||
|
- Definition
Amount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Face amount or stated value of common stock per share; generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The stated principal amount of the debt instrument at time of issuance, which may vary from the carrying amount because of unamortized premium or discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of debt issuance costs (for example, but not limited to, legal, accounting, broker, and regulatory fees). No definition available.
|
| X | ||||||||||
|
- Definition
Represents the portion of interest incurred in the period on debt arrangements that was charged against earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of long-term debt (with maturities initially due after one year or beyond the operating cycle if longer) identified as Junior Subordinated Notes, which have a lower priority than senior instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from additional borrowings, net of cash paid to third parties in connection with debt origination. No definition available.
|
| X | ||||||||||
|
- Definition
The cash inflow from a borrowing where a lender is placed in a lien position behind debt having a higher priority of repayment (senior) in liquidation of the entity's assets or underlying collateral. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This is the amount of interest expense incurred during the reporting period as a result of repurchase agreements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Price of a single share of a number of saleable stocks of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Related Party Transactions - AmTrust (Details)
|
3 Months Ended | 0 Months Ended | 1 Months Ended | 2 Months Ended | 3 Months Ended | 9 Months Ended | 15 Months Ended | 21 Months Ended | 55 Months Ended | 3 Months Ended | 24 Months Ended | 3 Months Ended | 24 Months Ended | 39 Months Ended | 63 Months Ended | 31 Months Ended | 3 Months Ended | 31 Months Ended | 3 Months Ended | 3 Months Ended | 24 Months Ended | 3 Months Ended | 69 Months Ended | 3 Months Ended | 10 Months Ended | 3 Months Ended | 2 Months Ended | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Mar. 31, 2013
USD ($)
|
Dec. 31, 2012
USD ($)
|
Mar. 31, 2013
Founding Shareholders [Member]
AmTrust Financial Services, Inc. [Member]
|
Mar. 31, 2013
AmTrust Financial Services, Inc. [Member]
USD ($)
|
Dec. 31, 2012
AmTrust Financial Services, Inc. [Member]
USD ($)
|
Feb. 09, 2009
AmTrust Financial Services, Inc. [Member]
AmTrust Quota Share Reinsurance Agreement [Member]
USD ($)
|
Jun. 11, 2008
AmTrust Financial Services, Inc. [Member]
AmTrust Quota Share Reinsurance Agreement [Member]
USD ($)
|
Jul. 31, 2007
AmTrust Financial Services, Inc. [Member]
AmTrust Quota Share Reinsurance Agreement [Member]
USD ($)
|
Mar. 06, 2013
AmTrust Financial Services, Inc. [Member]
AmTrust Quota Share Reinsurance Agreement [Member]
|
Mar. 31, 2013
AmTrust Financial Services, Inc. [Member]
AmTrust Quota Share Reinsurance Agreement [Member]
|
Dec. 31, 2011
AmTrust Financial Services, Inc. [Member]
AmTrust Quota Share Reinsurance Agreement [Member]
|
Mar. 31, 2011
AmTrust Financial Services, Inc. [Member]
AmTrust Quota Share Reinsurance Agreement [Member]
|
Dec. 31, 2012
AmTrust Financial Services, Inc. [Member]
AmTrust Quota Share Reinsurance Agreement [Member]
|
Dec. 31, 2012
AmTrust Financial Services, Inc. [Member]
AmTrust Quota Share Reinsurance Agreement [Member]
USD ($)
|
Mar. 31, 2013
AmTrust Financial Services, Inc. [Member]
AmTrust Quota Share Reinsurance Agreement [Member]
Commissions Paid [Member]
USD ($)
|
Mar. 31, 2012
AmTrust Financial Services, Inc. [Member]
AmTrust Quota Share Reinsurance Agreement [Member]
Commissions Paid [Member]
USD ($)
|
Mar. 31, 2013
AmTrust Financial Services, Inc. [Member]
AmTrust European Hospital Liability Quota Share Agreement [Member]
EUR (€)
|
Mar. 31, 2013
AmTrust Financial Services, Inc. [Member]
AmTrust European Hospital Liability Quota Share Agreement [Member]
Commissions Paid [Member]
USD ($)
|
Mar. 31, 2012
AmTrust Financial Services, Inc. [Member]
AmTrust European Hospital Liability Quota Share Agreement [Member]
Commissions Paid [Member]
USD ($)
|
Dec. 31, 2009
AmTrust Financial Services, Inc. [Member]
AmTrust Workers' Compensation Reinsurance Agreement [Member]
|
Mar. 31, 2013
AmTrust Financial Services, Inc. [Member]
AmTrust Workers' Compensation Reinsurance Agreement [Member]
USD ($)
|
Mar. 31, 2013
AmTrust Financial Services, Inc. [Member]
AmTrust Workers' Compensation Reinsurance Agreement [Member]
USD ($)
|
Mar. 31, 2013
AmTrust Financial Services, Inc. [Member]
AmTrust Technology Reinsurance Agreement [Member]
|
Mar. 31, 2013
AmTrust Financial Services, Inc. [Member]
AmTrust Technology Reinsurance Agreement [Member]
Commissions Paid [Member]
USD ($)
|
Mar. 31, 2012
AmTrust Financial Services, Inc. [Member]
AmTrust Technology Reinsurance Agreement [Member]
Commissions Paid [Member]
USD ($)
|
Mar. 31, 2013
AmTrust Financial Services, Inc. [Member]
AmTrust Technology Reinsurance Agreement [Member]
Premiums Earned [Member]
USD ($)
|
Mar. 31, 2012
AmTrust Financial Services, Inc. [Member]
AmTrust Technology Reinsurance Agreement [Member]
Premiums Earned [Member]
USD ($)
|
Mar. 31, 2013
AmTrust Financial Services, Inc. [Member]
AmTrust SNIC Reinsurance Agreement [Member]
|
Mar. 31, 2013
AmTrust Financial Services, Inc. [Member]
AmTrust SNIC Reinsurance Agreement [Member]
Commissions Paid [Member]
USD ($)
|
Mar. 31, 2012
AmTrust Financial Services, Inc. [Member]
AmTrust SNIC Reinsurance Agreement [Member]
Commissions Paid [Member]
USD ($)
|
Mar. 31, 2013
AmTrust Financial Services, Inc. [Member]
AmTrust SNIC Reinsurance Agreement [Member]
Premiums Earned [Member]
USD ($)
|
Mar. 31, 2012
AmTrust Financial Services, Inc. [Member]
AmTrust SNIC Reinsurance Agreement [Member]
Premiums Earned [Member]
USD ($)
|
Mar. 31, 2013
AmTrust Financial Services, Inc. [Member]
AII Reinsurance Agreement [Member]
USD ($)
|
Dec. 31, 2012
AmTrust Financial Services, Inc. [Member]
AII Reinsurance Agreement [Member]
USD ($)
|
Mar. 31, 2012
AmTrust Financial Services, Inc. [Member]
Reinsurer Trust Assets Collateral Agreement [Member]
USD ($)
|
Mar. 31, 2013
AmTrust Financial Services, Inc. [Member]
Reinsurance Brokerage Agreements [Member]
USD ($)
|
Jun. 30, 2011
AmTrust Financial Services, Inc. [Member]
Reinsurance Brokerage Agreements [Member]
USD ($)
|
Mar. 31, 2013
AmTrust Financial Services, Inc. [Member]
Reinsurance Brokerage Agreements [Member]
|
Mar. 31, 2013
AmTrust Financial Services, Inc. [Member]
Reinsurance Brokerage Agreements [Member]
Brokerage Expense [Member]
USD ($)
|
Jun. 30, 2011
AmTrust Financial Services, Inc. [Member]
Reinsurance Brokerage Agreements [Member]
Brokerage Expense [Member]
USD ($)
|
Mar. 31, 2012
AmTrust Financial Services, Inc. [Member]
Reinsurance Brokerage Agreements [Member]
Brokerage Expense [Member]
USD ($)
|
Mar. 31, 2013
AmTrust Financial Services, Inc. [Member]
Asset Management Agreement [Member]
USD ($)
|
Mar. 31, 2013
AmTrust Financial Services, Inc. [Member]
Asset Management Agreement [Member]
Investment Management Fees [Member]
USD ($)
|
Mar. 31, 2012
AmTrust Financial Services, Inc. [Member]
Asset Management Agreement [Member]
Investment Management Fees [Member]
USD ($)
|
Dec. 31, 2011
AmTrust Financial Services, Inc. [Member]
AmTrust Time Sharing Agreement [Member]
|
Mar. 31, 2013
AmTrust Financial Services, Inc. [Member]
AmTrust Time Sharing Agreement [Member]
Aircraft Expenses [Member]
USD ($)
|
Mar. 31, 2012
AmTrust Financial Services, Inc. [Member]
AmTrust Time Sharing Agreement [Member]
Aircraft Expenses [Member]
USD ($)
|
Mar. 31, 2013
AmTrust Financial Services, Inc. [Member]
American Capital Acquisition Corp. [Member]
|
Mar. 31, 2013
Michael Karfunkel 2005 Grantor Retained Annuity Trust [Member]
American Capital Acquisition Corp. [Member]
|
Mar. 31, 2013
Michael Karfunkel [Member]
American Capital Acquisition Corp. [Member]
|
Mar. 06, 2013
Minimum [Member]
AmTrust Financial Services, Inc. [Member]
AmTrust Quota Share Reinsurance Agreement [Member]
|
Mar. 06, 2013
Maximum [Member]
AmTrust Financial Services, Inc. [Member]
AmTrust Quota Share Reinsurance Agreement [Member]
|
|
| Related Party Transaction [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ownership percentage | 58.00% | 72.40% | 27.60% | |||||||||||||||||||||||||||||||||||||||||||||||||
| Ownership percentage upon conversion of preferred stock | 21.25% | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Percent of premiums written, net of cost of unaffiliated inuring reinsurance from related party | 100.00% | 40.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Unearned premiums | $ 1,134,697,000 | $ 936,497,000 | $ 82,200,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Percent of losses with respect to current lines of business, excluding those above covered business threshold to related party | 40.00% | 40.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Covered business threshold | 5,000,000 | 5,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Premiums and losses related to covered business to cede | 40.00% | 40.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Commission rate, percent of ceded written premiums | 31.00% | 34.375% | 30.00% | 31.00% | 31.00% | 34.375% | 5.00% | 5.00% | 5.00% | |||||||||||||||||||||||||||||||||||||||||||
| Commission rate, adjustment to percent of ceded written premiums | 1.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Commission rate, adjusted percent of ceded written premiums | 30.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Commission rate, adjustment criteria, threshold percent of specialty risk and extended warranty to covered business | 42.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Commission rate, adjustment criteria 2, floor percent of specialty risk and extended warranty to covered business | 38.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Commission rate, reduced adjustment to percent of ceded written premiums | 0.50% | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Commission rate, reduced adjustment to percent of ceded written premiums | 30.50% | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Contract extension | 1 year | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Contract extension | 3 years | 1 year | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Cancellation notice period | 9 months | 30 days | 30 days | |||||||||||||||||||||||||||||||||||||||||||||||||
| Cancellation notice period upon the occurrence of certain early termination events | 30 days | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Early termination events, reduction threshold of stockholders' equity | 50.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Premiums and losses related to policies | 40.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Maximum limit of liability attaching | 2,000,000 | 5,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Percent basis currency equivalent of maximum limit of liability attaching | 100.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Profit sharing commencement period | 2 years | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Portion of excess performance to be shared | 50.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Agreement period | 3 years | 1 year | 1 year | 10 months | ||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue from related parties | 507,000 | 2,300,000 | 38,000 | 82,000 | 759,000 | 284,000 | ||||||||||||||||||||||||||||||||||||||||||||||
| Percent of gross liabilities, from related party | 80.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Expenses recorded from related party transactions | 61,128,000 | 43,879,000 | 1,251,000 | 1,192,000 | 128,000 | 696,000 | 2,754,000 | 2,098,000 | 1,041,000 | 830,000 | 0 | 19,000 | ||||||||||||||||||||||||||||||||||||||||
| Percent participation in reinsurance program | 45.00% | 40.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Excess reinsurance coverage above threshold | 9,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Reinsurance coverage threshold | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Reinsurance coverage limit | 10,000,000 | 10,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Annual aggregate deductible | 1,250,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Remaining percent participation in single carrier | 55.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Percent of credit insurance business to cede | 90.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Percent of general liability business to cede | 100.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Loan to related party | 167,975,000 | 167,975,000 | 167,975,000 | 167,975,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Loan to related party, Basis spread on LIBOR | 0.90% | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Loan to related party, LIBOR basis spread assessment period | 360 days | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Collateral held by related party | 867,797,000 | 857,013,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Accrued interest on collateral held by related party | 6,949,000 | 494,000 | 0 | 6,967,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Brokerage fee, percent of premium assumed | 1.25% | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Reserve for loss and loss adjustment expenses | 7,835,000 | 6,299,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Brokerage fees paid | 1,000 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Quarterly brokerage fee, below portfolio threshold, percent of average holdings | 0.05% | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Quarterly brokerage fee, portfolio threshold | $ 1,000,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Quarterly brokerage fee, above portfolio threshold, percent of average holdings | 0.0375% | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Commission rate, adjustment criteria, loss ratio floor | 81.50% | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Commission rate, adjustment criteria, loss ratio ceiling | 95.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Loans and Leases Receivable, Related Parties, Variable Interest Rate Assessment Period No definition available.
|
| X | ||||||||||
|
- Definition
Payments for (Proceeds from) Brokerage Transactions No definition available.
|
| X | ||||||||||
|
- Definition
Related Party, Ownership Percentage No definition available.
|
| X | ||||||||||
|
- Definition
Related Party, Ownership Percentage Upon Conversion of Preferred Stock No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Accrued Interest on Collateral Held by Related Party No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Agreement Period No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Annual Aggregate Deductible No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Automatic Renewal Period No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Brokerage Fee, Percent of Premium Assumed No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Cancellation Notice Period No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Cancellation Notice Period Upon the Occurrence of Certain Early Termination Events No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Collateral Held by Related Party No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Commission Rate, Adjusted Percent of Ceded Written Premiums No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Commission Rate, Adjustment Criteria 2, Floor Percent of Specialty Risk and Extended Warranty to Covered Business No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Commission Rate, Adjustment Criteria, Loss Ratio Ceiling No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Commission Rate, Adjustment Criteria, Loss Ratio Floor No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Commission Rate, Adjustment Criteria, Threshold Percent of Specialty Risk and Extended Warranty to Covered Business No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Commission Rate, Adjustment to Percent of Ceded Written Premiums No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Commission Rate, Percent of Ceded Written Premiums No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Commission Rate, Reduced Adjustment Adjusted Percent of Ceded Written Premiums No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Commission Rate, Reduced Adjustment to Percent of Ceded Written Premiums No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Contract Extension No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Covered Business Threshold No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Early Termination Events, Reduction Threshold of Stockholders' Equity No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Excess Reinsurance Coverage Above Threshold No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Maximum Limit of Liability Attaching No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Percent Basis Currency Equivalent of Maximum Limit of Liability Attaching No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Percent of Credit Insurance Business to Cede No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Percent of General Liability Business to Cede No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Percent of Gross Liabilities, From Related Party No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Percent of Losses With Respect to Current Lines of Business, Excluding Those Above Covered Business Threshold To Related Party No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Percent of Premium Written, Net of Cost of Unaffiliated Inuring Reinsurance From Related Party No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Percent Participation in Reinsurance Program No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Portion of Excess Performance to be Shared No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Premiums and Losses Related to Covered Business To Cede No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Premiums and Losses Related to Policies No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Profit Sharing Commencement Period No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Quarterly Brokerage Fee, Above Portfolio Threshold, Percent of Average Holdings No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Quarterly Brokerage Fee, Below Portfolio Threshold, Percent of Average Holdings No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Quarterly Brokerage Fee, Portfolio Threshold No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Reinsurance Coverage Limit No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Reinsurance Coverage Threshold No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Remaining Percent Participation in Single Carrier No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of obligations due all related parties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For an unclassified balance sheet, reflects the carrying amount of unpaid loan amounts due from related parties at the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The percentage points (also referred to as 'margin') added to the reference rate as stated in the loan agreement and used to compute the variable rate on the loans receivable. For instance, the loan agreement might state that the interest rate the borrower is obligated to pay is the London Interbank Offered Rate (LIBOR) plus three quarters (3/4) of a percentage point adjusted quarterly (each three months). LIBOR in this example is the index or reference rate, 3/4 percentage point is the margin, the reference rate plus the margin is the fully indexed rate. This element would be used to report separately the margin. No definition available.
|
| X | ||||||||||
|
- Definition
Expenses recognized resulting from transactions (excluding transactions that are eliminated in consolidated or combined financial statements) with related party. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount of premiums written on insurance contracts that have not been earned as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Related Party Transactions - ACAC (Details) (USD $)
|
1 Months Ended | 1 Months Ended | 0 Months Ended | 6 Months Ended | 31 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | 0 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Mar. 31, 2013
Senior notes [Member]
8.25% Senior note [Member]
|
Jun. 30, 2011
Senior notes [Member]
8.25% Senior note [Member]
|
Jun. 30, 2011
Junior subordinated debt [Member]
Trust Preferred Securities [Member]
|
Mar. 31, 2013
Junior subordinated debt [Member]
Trust Preferred Securities [Member]
|
Jun. 30, 2011
American Capital Acquisition Corp. [Member]
Senior notes [Member]
8.25% Senior note [Member]
|
Jul. 15, 2011
American Capital Acquisition Corp. [Member]
Junior subordinated debt [Member]
Trust Preferred Securities [Member]
Maiden Capital Financing Trust [Member]
|
Mar. 31, 2013
American Capital Acquisition Corp. [Member]
Junior subordinated debt [Member]
Trust Preferred Securities [Member]
Maiden Capital Financing Trust [Member]
|
Mar. 31, 2013
American Capital Acquisition Corp. [Member]
ACAC Quota Share Reinsurance Agreement [Member]
|
Sep. 30, 2012
American Capital Acquisition Corp. [Member]
ACAC Quota Share Reinsurance Agreement [Member]
|
Mar. 31, 2013
American Capital Acquisition Corp. [Member]
ACAC Quota Share Reinsurance Agreement [Member]
Commissions Paid [Member]
|
Mar. 31, 2012
American Capital Acquisition Corp. [Member]
ACAC Quota Share Reinsurance Agreement [Member]
Commissions Paid [Member]
|
Sep. 12, 2012
American Capital Acquisition Corp. [Member]
ACAC Integon Consulting Agreement [Member]
|
Mar. 31, 2013
American Capital Acquisition Corp. [Member]
ACAC Integon Consulting Agreement [Member]
|
Mar. 31, 2013
American Capital Acquisition Corp. [Member]
ACAC New South Insurance Company Reinsurance Agreement [Member]
|
Jul. 15, 2011
Michael Karfunkel [Member]
Junior subordinated debt [Member]
Trust Preferred Securities [Member]
Maiden Capital Financing Trust [Member]
|
Jul. 15, 2011
George Karfunkel [Member]
Junior subordinated debt [Member]
Trust Preferred Securities [Member]
Maiden Capital Financing Trust [Member]
|
|
| Related Party Transaction [Line Items] | ||||||||||||||||
| Percent of net premiums of personal lines business reinsured | 25.00% | |||||||||||||||
| Percent participation in quota share by subsidiary | 50.00% | |||||||||||||||
| Percent of net premiums of personal lines business received by subsidiary | 25.00% | |||||||||||||||
| Percent of net premiums of personal lines business received by reinsurers | 50.00% | |||||||||||||||
| Percent of net losses related to premiums of personal lines business assumed by reinsurers | 50.00% | |||||||||||||||
| Agreement period | 3 years | 1 year | ||||||||||||||
| Contract extension | 1 year | |||||||||||||||
| Cancellation notice period | 9 months | 120 days | ||||||||||||||
| Cancellation notice period upon the occurrence of certain early termination events | 60 days | |||||||||||||||
| Early termination events, reduction threshold of stockholders' equity | 50.00% | |||||||||||||||
| Cancellation notice period upon the occurrence of IPO | 9 months | |||||||||||||||
| Commission rate, percent of ceded written premiums | 32.00% | 32.50% | ||||||||||||||
| Commission rate, adjusted percent of ceded written premiums | 34.50% | |||||||||||||||
| Commission rate, adjustment criteria, loss ratio ceiling | 60.00% | |||||||||||||||
| Commission rate, reduced adjustment to percent of ceded written premiums | 30.00% | 30.50% | ||||||||||||||
| Commission rate, adjustment criteria, loss ratio floor | 64.50% | 64.50% | ||||||||||||||
| Expenses recorded from related party transactions | $ 21,597,000 | $ 20,177,000 | ||||||||||||||
| Monthly base fee | 25,000 | |||||||||||||||
| Fee rate per policy quote | 100.0 | |||||||||||||||
| Fee rate per policy requote | 100.0 | |||||||||||||||
| Face amount | 107,500,000 | 107,500,000 | 107,500,000 | 260,000,000 | ||||||||||||
| Percent of personal lines business ceded to related party | 100.00% | |||||||||||||||
| Revenue from related parties | 81,000 | |||||||||||||||
| Stated interest rate | 8.25% | 14.00% | ||||||||||||||
| Principal amount repurchased | $ 107,500,000 | $ 107,500,000 | $ 12,500,000 | $ 79,066,000 | $ 25,000,000 | |||||||||||
| X | ||||||||||
|
- Definition
Related Party Transaction, Agreement Period No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Automatic Renewal Period No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Cancellation Notice Period No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Cancellation Notice Period Upon the Occurrence of Certain Early Termination Events No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Cancellation Notice Period Upon the Occurrence of IPO No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Commission Rate, Adjusted Percent of Ceded Written Premiums No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Commission Rate, Adjustment Criteria, Loss Ratio Ceiling No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Commission Rate, Adjustment Criteria, Loss Ratio Floor No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Commission Rate, Percent of Ceded Written Premiums No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Commission Rate, Reduced Adjustment Adjusted Percent of Ceded Written Premiums No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Early Termination Events, Reduction Threshold of Stockholders' Equity No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Fee Rate Per Policy Quote No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Fee Rate Per Policy Requote No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Monthly Base Fee No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Percent of Net Losses Related To Premiums of Personal Lines Business Assumed by Reinsurers No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Percent of Net Premiums of Personal Lines Business Received by Reinsurers No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Percent of Net Premiums of Personal Lines Business Received by Subsidiary No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Percent of Net Premiums of Personal Lines Business Reinsured No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Percent of Personal Lines Business Ceded to Related Party No definition available.
|
| X | ||||||||||
|
- Definition
Related Party Transaction, Percent Participation in Quota Share by Subsidiary No definition available.
|
| X | ||||||||||
|
- Definition
The stated principal amount of the debt instrument at time of issuance, which may vary from the carrying amount because of unamortized premium or discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Expenses recognized resulting from transactions (excluding transactions that are eliminated in consolidated or combined financial statements) with related party. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Earnings per Common Share (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
|
| Earnings Per Share [Abstract] | ||
| Net income attributable to Maiden common shareholders | $ 24,986 | $ 20,377 |
| Weighted average number of common shares outstanding – basic (in shares) | 72,417,358 | 72,226,329 |
| Potentially dilutive securities: | ||
| Share options and restricted share units (in shares) | 1,023,014 | 830,094 |
| Weighted average number of common shares outstanding – diluted (in shares) | 73,440,372 | 73,056,423 |
| Basic earnings per share attributable to Maiden common shareholders | $ 0.35 | $ 0.28 |
| Diluted earnings per share attributable to Maiden common shareholders | $ 0.34 | $ 0.28 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of share based payment arrangements using the treasury stock method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Earnings per Common Share - Anti-dilutive Securities (Details) (Share Options [Member])
|
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
|
|
Share Options [Member]
|
||
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
| Anti-dilutive share options excluded from the calculation of diluted earnings per common share | 1,788,534 | 2,079,180 |
| X | ||||||||||
|
- Definition
Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Shareholders' Equity (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
3 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | |||||
|---|---|---|---|---|---|---|---|---|---|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
Dec. 31, 2012
|
Mar. 31, 2013
Change in net unrealized gains on investments [Member]
|
Mar. 31, 2012
Change in net unrealized gains on investments [Member]
|
Mar. 31, 2013
Foreign currency translation adjustments [Member]
|
Mar. 31, 2012
Foreign currency translation adjustments [Member]
|
Aug. 22, 2012
Preference Shares - Series A [Member]
|
Mar. 31, 2013
Preference Shares - Series A [Member]
|
|
| Class of Stock [Line Items] | |||||||||
| Number of Preference Shares issued (in shares) | 6,000,000 | ||||||||
| Dividend rate of Preference Shares | 8.25% | ||||||||
| Par value of Preference Shares (in dollars per share) | $ 0.01 | ||||||||
| Share price (in dollars per share) | $ 25.000 | ||||||||
| Proceeds from issuance of Preference Shares | $ 145,041 | ||||||||
| Expenses and underwriting discounts | 4,959 | ||||||||
| Redemption price for Preference Shares (in dollars per share) | $ 25.000 | ||||||||
| Sale price of Preference Shares (in dollars per share) | $ 25.00 | ||||||||
| Dividends, Preferred Stock | 3,094 | 0 | 3,094 | ||||||
| Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||||||
| Beginning balance | 141,126 | 64,051 | 143,665 | 63,737 | (2,539) | 314 | |||
| Other comprehensive income before reclassifications | (4,962) | 26,808 | (7,848) | 29,309 | 2,886 | (2,501) | |||
| Amounts reclassified from accumulated other comprehensive income | (3,081) | (10) | (3,081) | (10) | 0 | 0 | |||
| Other comprehensive income | (8,043) | 26,798 | (10,929) | 29,299 | 2,886 | (2,501) | |||
| Ending balance | 133,083 | 90,849 | 132,736 | 93,036 | 347 | (2,187) | |||
| Noncontrolling interest | (15) | 0 | 0 | 0 | (15) | 0 | |||
| Ending balance, Maiden shareholders | $ 133,098 | $ 90,849 | $ 141,130 | $ 132,736 | $ 93,036 | $ 362 | $ (2,187) | ||
| X | ||||||||||
|
- Definition
Accumulated Other Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest No definition available.
|
| X | ||||||||||
|
- Definition
Accumulated Other Comprehensive Income (Loss), Net of Tax Attributable to Parent No definition available.
|
| X | ||||||||||
|
- Details
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| X | ||||||||||
|
- Definition
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax No definition available.
|
| X | ||||||||||
|
- Definition
Preferred Stock, Issuance Costs No definition available.
|
| X | ||||||||||
|
- Definition
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax No definition available.
|
| X | ||||||||||
|
- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
|
- Definition
Equity impact of aggregate cash, stock, and paid-in-kind dividends declared for preferred shareholders during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net of tax amount of other comprehensive income (loss) attributable to both parent entity and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The percentage rate used to calculate dividend payments on preferred stock. No definition available.
|
| X | ||||||||||
|
- Definition
The per share liquidation preference (or restrictions) of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) that has a preference in involuntary liquidation considerably in excess of the par or stated value of the shares. The liquidation preference is the difference between the preference in liquidation and the par or stated values of the share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The price per share at which the preferred stock of an entity that has priority over common stock in the distribution of dividends and in the event of liquidation of the entity is redeemed or may be called at. The redemption features of this preferred stock are solely within the control of the issuer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Proceeds from issuance of capital stock which provides for a specific dividend that is paid to the shareholders before any dividends to common stockholders and which takes precedence over common stockholders in the event of liquidation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Price of a single share of a number of saleable stocks of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Number of new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Share Based Compensation (Details) (USD $)
|
3 Months Ended | 24 Months Ended | 0 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Mar. 31, 2013
|
Dec. 31, 2012
|
Mar. 31, 2012
|
Dec. 31, 2011
|
Mar. 31, 2013
Minimum [Member]
|
Mar. 31, 2013
Maximum [Member]
|
Mar. 31, 2013
Share Options [Member]
|
Mar. 31, 2013
Performance-Based Restricted Share Units [Member]
|
Dec. 31, 2012
Performance-Based Restricted Share Units [Member]
|
Feb. 19, 2013
CEO Non-Performance-Based Restricted Share Units [Member]
|
Mar. 01, 2012
CEO Non-Performance-Based Restricted Share Units [Member]
|
Feb. 19, 2013
Non-CEO Non-Performance-Based Restricted Share Units [Member]
|
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||
| Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Annual Vesting Percentage | 33.33% | 50.00% | ||||||||||
| Number of shares reserved for issuance under the Plan (in shares) | 10,000,000 | |||||||||||
| Portion of options that will become exercisable on the first anniversary of the grant date | 25.00% | |||||||||||
| Additional options vesting each quarter based on the grantee’s continued employment over a four-year period after the first anniversary | 6.25% | |||||||||||
| Additional vesting period after first anniversary | 4 years | |||||||||||
| Award expiration period | 10 years | |||||||||||
| Share-based compensation expense from adoption of ASC Topic 718 | $ 309,000 | $ 285,000 | $ 0 | |||||||||
| Assumptions: | ||||||||||||
| Volatility, minimum | 45.30% | |||||||||||
| Volatility, maximum | 47.60% | |||||||||||
| Risk-free interest rate, minimum | 0.85% | |||||||||||
| Risk-free interest rate, maximum | 1.29% | |||||||||||
| Weighted average expected lives | 6 years 1 month 6 days | |||||||||||
| Forfeiture rate, minimum | 1.60% | |||||||||||
| Forfeiture rate, maximum | 1.60% | |||||||||||
| Dividend yield rate | 3.04% | 3.55% | ||||||||||
| Number of Share Options, Outstanding [Roll Forward] | ||||||||||||
| Outstanding, beginning of period (in shares) | 2,795,437 | 2,916,143 | ||||||||||
| Granted (in shares) | 6,500 | 22,500 | ||||||||||
| Exercised (in shares) | (96,910) | (35,384) | ||||||||||
| Expired (in shares) | (51,033) | |||||||||||
| Forfeited (in shares) | (2,625) | |||||||||||
| Outstanding, end of period (in shares) | 2,705,027 | 2,795,437 | 2,849,601 | 2,916,143 | ||||||||
| Weighted Average Exercise Price [Roll Forward] | ||||||||||||
| Outstanding, beginning of period (in dollars per share) | $ 6.70 | $ 6.61 | ||||||||||
| Granted (in dollars per share) | $ 9.99 | $ 9.42 | ||||||||||
| Exercised (in dollars per share) | $ 3.51 | $ 4.10 | ||||||||||
| Expired (in dollars per share) | $ 9.86 | |||||||||||
| Forfeited (in dollars per share) | $ 7.10 | |||||||||||
| Outstanding, end of period (in dollars per share) | $ 6.82 | $ 6.70 | $ 6.55 | $ 6.61 | ||||||||
| Weighted Average Remaining Contractual Term [Roll Forward] | ||||||||||||
| Outstanding, beginning of period | 6 years 6 months 15 days | 6 years 9 months | 7 years 4 months 6 days | 7 years 6 months 18 days | ||||||||
| Granted | 9 years 10 months 24 days | 9 years 10 months 24 days | ||||||||||
| Outstanding, end of period | 6 years 6 months 15 days | 6 years 9 months | 7 years 4 months 6 days | 7 years 6 months 18 days | ||||||||
| Weighted average grant date fair value (in dollars per share) | $ 2.09 | $ 2.05 | ||||||||||
| Unrecognized compensation cost related to non-vested share-based compensation arrangements | $ 1,304,000 | $ 1,528,000 | ||||||||||
| Share-based Compensation Arrangement by Share-based Payment Award, Performance Period | 3 years | 2 years | ||||||||||
| Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 0 | |||||||||||
| Units awarded | 149,701 | 86,705 | 94,229 | |||||||||
| Fair value of awards | $ 10.02 | $ 8.56 | $ 10.02 | |||||||||
| Life of awards | 36 months | 22 months | ||||||||||
| X | ||||||||||
|
- Definition
Share-based Compensation Arrangement by Share-based Payment Award, Additional Vesting Period After First Anniversary No definition available.
|
| X | ||||||||||
|
- Definition
Share-based Compensation Arrangement by Share-based Payment Award, Award Expiration Period No definition available.
|
| X | ||||||||||
|
- Definition
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Percentage on First Annual Anniversary No definition available.
|
| X | ||||||||||
|
- Definition
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Annual Vesting Percentage No definition available.
|
| X | ||||||||||
|
- Definition
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Forfeiture Rate, Maximu No definition available.
|
| X | ||||||||||
|
- Definition
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Forfeiture Rate, Minimum No definition available.
|
| X | ||||||||||
|
- Definition
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Remaining Contractual Term No definition available.
|
| X | ||||||||||
|
- Definition
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Grant Date Fair Value No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Share-based Compensation Arrangement by Share-based Payment Award, Performance Period No definition available.
|
| X | ||||||||||
|
- Definition
Share-based Compensation Arrangement by Share-based Payment Award, Quarterly Award Vesting Percentage After First Annual Anniversary No definition available.
|
| X | ||||||||||
|
- Definition
Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate number of common shares reserved for future issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
As of the balance sheet date, the aggregate unrecognized cost of equity-based awards made to employees under equity-based compensation awards that have yet to vest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Weighted average remaining contractual term for equity-based awards excluding options, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Expected term of share-based compensation awards, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The estimated measure of the maximum percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. No definition available.
|
| X | ||||||||||
|
- Definition
The estimated measure of the minimum percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. No definition available.
|
| X | ||||||||||
|
- Definition
The maximum risk-free interest rate assumption that is used in valuing an option on its own shares. No definition available.
|
| X | ||||||||||
|
- Definition
The minimum risk-free interest rate assumption that is used in valuing an option on its own shares. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Number of options or other stock instruments for which the right to exercise has lapsed under the terms of the plan agreements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gross number of share options (or share units) granted during the period. No definition available.
|
| X | ||||||||||
|
- Definition
The number of shares reserved for issuance under stock option agreements awarded under the plan that validly exist and are outstanding as of the balance sheet date, including vested options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Weighted average remaining contractual term for option awards outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Weighted average price at which option holders acquired shares when converting their stock options into shares. No definition available.
|
| X | ||||||||||
|
- Definition
Weighted average price at which grantees could have acquired the underlying shares with respect to stock options of the plan that expired. No definition available.
|
| X | ||||||||||
|
- Definition
Weighted average price at which grantees could have acquired the underlying shares with respect to stock options that were terminated. No definition available.
|
| X | ||||||||||
|
- Definition
Weighted average price at which grantees can acquire the shares reserved for issuance on stock options awarded. No definition available.
|
| X | ||||||||||
|
- Definition
Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Dividends Declared (Details) (USD $)
|
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
|
| Dividends [Abstract] | ||
| Common shares (in dollars per share) | $ 0.09 | $ 0.08 |
| Preference shares - Series A (in dollars per share) | $ 0.515625 | |
| X | ||||||||||
|
- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Aggregate dividends declared during the period for each share of preferred stock outstanding. No definition available.
|
|
Subsequent Events (Details) (USD $)
|
3 Months Ended | 0 Months Ended | |
|---|---|---|---|
|
Mar. 31, 2013
|
Mar. 31, 2012
|
May 07, 2013
Subsequent Event [Member]
Dividend Declared [Member]
|
|
| Subsequent Event [Line Items] | |||
| Dividends declared per common share | $ 0.09 | $ 0.08 | $ 0.09 |
| Dividends declared per Preference share (in dollars per share) | $ 0.515625 | $ 0.515625 | |
| X | ||||||||||
|
- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate dividends declared during the period for each share of preferred stock outstanding. No definition available.
|
| X | ||||||||||
|
- Details
|