as a result of our growth strategy and initiatives , we have seen increases in policy count and insured value in florida and other states since december 31 , 2013. our expansion in states outside of florida is yielding growth in policy count of 37.2 % since december 31 , 2013. the following table provides policy count and total insured value for florida and other states as of december 31 , 2014 and 2013 ( dollars in thousands ) : replace_table_token_7_th our efforts to ensure rate adequacy has helped to improve underwriting results , leading to our decision to retain a greater share of our profitable business by reducing our quota share cession rate . 24 2014 highlights · we reduced our quota share cession rate from 45 % to 30 % in june · net earned premiums grew by $ 59.2 million or 22.1 % · total revenues increased by $ 68.1 million or 22.6 % · net income and diluted earnings per common share grew by $ 14.0 million and $ 0.52 , respectively compared to 2013 · we repurchased a total of 1,166,208 shares of our common stock in the open market under a share repurchase program · we paid dividends per common share of $ 0.55 including a $ 0.15 special dividend in december · in april , the insurance commissioner of delaware issued a certificate of authority to upcic , thereby approving upcic as a licensed insurance entity in the state of delaware · in april , upcic submitted applications to the regulatory entities in pennsylvania , consistent with the company 's strategy to increase geographical diversification · in june , upcic began writing homeowners insurance policies in delaware · in october , the indiana department of insurance issued a certificate of authority to upcic approving upcic as a licensed insurance entity in the state of indiana · in november , demotech , inc. , affirmed the financial stability rating® of “ a ” for the insurance entities · in december , we sold 1 million shares of common stock in a privately negotiated transaction at $ 19.00 per share which were issued from treasury trends the market price per share of our common stock has increased significantly over the past few years . as disclosed in “ item 8 — note 9 ( share-based compensation ) ” , stock price affects assumptions utilized in the pricing model for the fair value of stock option awards . in addition , the fair value of the restricted share grants are determined based on the market price of our common stock at the date of grant . as a result , the increase in our common stock price has contributed to the increase of share-based compensation . the increase in our stock price is also a factor in the company 's effective income tax rate due to an increase in non-deductible expenses including certain share-based compensation . 2014-2015 reinsurance program effective june 1 , 2014 , we entered into multiple reinsurance agreements comprising our 2014-2015 reinsurance program . see “ item 8 — note 4 ( reinsurance ) . ” reinsurance generally we use reinsurance to reduce our exposure to catastrophic and non-catastrophic losses through a combination of quota share , catastrophe and other forms of reinsurance . below is a description of our 2014-2015 reinsurance program . we believe that the overall terms of the 2014-2015 reinsurance program are more favorable than the 2013-2014 reinsurance program . we realized cost reductions in part due to market conditions and our preparation and efforts to manage risk exposure . we also are retaining a greater percentage of gross written premiums with wind risk than we did under our 2013-2014 reinsurance program by reducing our quota share cession rate by 15 percentage points . we expect to increase our overall profitability by retaining more premium ; however the reduction in the quota share cession rate affects several line items in our consolidated statements of income . by lowering our cession rate , we increase the amount of premium we retain as well as the related risk . this results in an increase in both earned premium and losses and lae . the lower cession rate also reduces the amount of ceding commissions we receive that offset costs associated with writing premium . this reduction in ceding commission increases general and administrative expenses . the overall reduction in reinsurance costs lowers the amount of brokerage commissions received by our wholly-owned reinsurance broker subsidiary . other favorable changes in the 2014-2015 reinsurance program include a reduction in the amount of risk retained per catastrophe occurrence to $ 21 million from $ 27.5 million under the 2013-2014 reinsurance program . 25 while we believe the changes to the current reinsurance program are beneficial , there can be no assurance that our actual results of operations or financial condition will be positively affected . the insurance entities remain responsible for insured losses notwithstanding the failure of any reinsurer to make payments otherwise due to the insurance entities . a major catastrophic event , multiple catastrophes , or the insolvency of one of the larger participants in the reinsurance program could have a material adverse effect on the insurance entities ' solvency and our results of operations , financial condition and liquidity . upcic reinsurance program upcic 's reinsurance program , which generally runs from june 1 through may 31 of the following year , consists of quota share , various forms of catastrophe coverage and individual property and liability per risk/per policy coverage . under the 2014-2015 reinsurance program , upcic retains a pre-tax liability of $ 21 million for the first , second and third catastrophic events under its florida program with coverage up to $ 1.794 billion . story_separator_special_tag often , different estimates are prepared for each detailed component , incorporating alternative analyses of changing claim settlement patterns and other influences on losses , from which a best estimate is selected for each component , occasionally incorporating additional analyses and actuarial judgment as described above . these estimates are not based on a single set of assumptions . based on a review of these estimates , the best estimate of required reserves is recorded for each accident year and the required reserves are summed to create the reserve balance carried on the consolidated balance sheets . reserves are re-estimated periodically by combining historical payment and reserving patterns with current actual results . when actual development of claims reported , paid losses or case reserve changes are different than the historical development pattern used in a prior period reserve estimate , and as actuarial studies validate new trends based on indications of updated development factor calculations , new ultimate loss and lae predictions are determined . this process incorporates the historic and latest trends , and other underlying changes in the data elements used to calculate reserve estimates . the difference between indicated reserves based on new reserve estimates and the previously recorded estimate of reserves is the amount of reserve re-estimates . the resulting increase or decrease in the reserve re-estimates is recorded and included in “ losses and loss adjustment expenses ” in the consolidated statements of income . total reserve re-estimates in 2014 , 2013 and 2012 , expressed as a percent of the net losses and lae liability balance as of the beginning of each year , were ( 0.8 % ) , ( 2.6 % ) , and 6.8 % , respectively . there are inherent uncertainties associated with this estimation process , especially for a company with limited development history . however , with the passing of each year , the company 's own historical trends have become more reliable for use in predicting future results . factors affecting reserve estimates reserve estimates are developed based on the processes and historical development trends as previously described . these estimates are considered in conjunction with known facts and interpretations of circumstances and factors including our experience with similar cases , actual claims paid , differing payment patterns and pending levels of unpaid claims , loss management programs , product mix and contractual terms , changes in law and regulation , judicial decisions , and economic conditions . when these types of changes are experienced , actuarial judgment is applied in the determination and selection of development factors in order to better reflect new trends or expectations . for example , if a change in law is expected to have a significant impact on the development of claim severity , actuarial judgment is applied to determine appropriate development factors that will most accurately reflect the expected impact on that specific estimate . this example appropriately describes the reserving methodology selection for use in estimating sinkhole liabilities after the passing of legislation , as noted above . another example would be when a change in economic conditions is expected to affect the cost of repairs to property ; actuarial judgment is applied to determine appropriate development factors to use in the reserve estimate that will most accurately reflect the expected impacts on severity development . 29 as claims are reported , for certain liability claims of sufficient size and complexity , the field adjusting staff establishes case reserve estimates of ultimate cost , based on their assessment of facts and circumstances related to each individual claim . for other claims which occur in large volumes and settle in a relatively short time frame , it is not practical or efficient to set case reserves for each claim , and an initial case reserve of $ 2,500 is set for these claims . in the normal course of business , we may also supplement our claims processes by utilizing third party adjusters , appraisers , engineers , inspectors , other professionals and information sources to assess and settle catastrophe and non-catastrophe related claims . changes in homeowners current year claim severity are generally influenced by inflation in the cost of building materials , the cost of construction and property repair services , the cost of replacing home furnishings and other contents , the types of claims that qualify for coverage , deductibles and other economic and environmental factors . we employ various loss management programs to mitigate the effect of these factors . key assumptions that materially affect the estimate of the reserve for loss and lae relate to the effects of emerging claim and coverage issues . as industry practices and legal , judicial , social and other environmental conditions change , unexpected and unintended issues related to claim and coverage may emerge . these issues may adversely affect our business by either extending coverage beyond our underwriting intent or by increasing the number or size of claims . key assumptions that are premised on future emergence that are inconsistent with historical loss reserve development patterns include but are not limited to : · adverse changes in loss cost trends , including inflationary pressures in home repair costs ; · judicial expansion of policy coverage and the impact of new theories of liability ; and · plaintiffs targeting property and casualty insurers , in purported class action litigation related to claims-handling and other practices . as loss experience for the current year develops for each type of loss , it is monitored relative to initial assumptions until it is judged to have sufficient statistical credibility . from that point in time and forward , reserves are re-estimated using statistical actuarial processes to reflect the impact loss trends have on development factors incorporated into the actuarial estimation processes . causes of reserve estimate uncertainty since reserves are estimates of the unpaid portions of claims and claims expenses that have occurred , the establishment of appropriate reserves , including

capital resources capital resources provide protection for policyholders , furnish the financial strength to support the business of underwriting insurance risks , and facilitate continued business growth . at december 31 , 2014 , we had total capital of $ 249.5 million , comprised of stockholders ' equity of $ 199.9 million ( 12/31/14 pro-forma balance of $ 218.9 million ) , mezzanine equity of $ 19.0 million ( 12/31/14 pro-forma balance of $ 0 ) and total long term debt of $ 30.6 million . our debt-to-total-capital ratio and debt-to-equity ratio were 12.3 % and 15.3 % , respectively , at december 31 , 2014. the debt-to-equity ratio was 14.0 % at december 31 , 2014 after taking into consideration pro-forma adjustments to equity as described in “ item 8 – note 8 ( stockholders ' equity ) . ” at december 31 , 2013 , we had total capital of $ 212.8 million , comprised of stockholders ' equity of $ 175.6 million and total long term debt of $ 37.2 million . our debt-to-total-capital ratio and debt-to-equity ratio were 17.5 % and 21.2 % , respectively , at december 31 , 2013. the increase in stockholders ' equity during the year ended december 31 , 2014 is attributed to net income partially offset by dividends declared and common share repurchases . the insurance entities are required annually to comply with the naic risk-based capital ( “ rbc ” ) requirements . rbc requirements prescribe a method of measuring the amount of capital appropriate for an insurance company to support its overall business operations in light of its size and risk profile . naic 's rbc requirements are used by regulators to determine appropriate regulatory actions relating to insurers who show signs of weak or deteriorating condition . as of december 31 , 2014 , based on calculations using the appropriate naic rbc formula , the insurance entities ' reported total adjusted capital was in excess of the requirements . failure by the insurance entities to maintain the required level of statutory capital and surplus could result in the suspension of their authority to write new or renewal business , other regulatory actions , or ultimately , in the revocation of their certificate of authority by the oir .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```capital resources capital resources provide protection for policyholders , furnish the financial strength to support the business of underwriting insurance risks , and facilitate continued business growth . at december 31 , 2014 , we had total capital of $ 249.5 million , comprised of stockholders ' equity of $ 199.9 million ( 12/31/14 pro-forma balance of $ 218.9 million ) , mezzanine equity of $ 19.0 million ( 12/31/14 pro-forma balance of $ 0 ) and total long term debt of $ 30.6 million . our debt-to-total-capital ratio and debt-to-equity ratio were 12.3 % and 15.3 % , respectively , at december 31 , 2014. the debt-to-equity ratio was 14.0 % at december 31 , 2014 after taking into consideration pro-forma adjustments to equity as described in “ item 8 – note 8 ( stockholders ' equity ) . ” at december 31 , 2013 , we had total capital of $ 212.8 million , comprised of stockholders ' equity of $ 175.6 million and total long term debt of $ 37.2 million . our debt-to-total-capital ratio and debt-to-equity ratio were 17.5 % and 21.2 % , respectively , at december 31 , 2013. the increase in stockholders ' equity during the year ended december 31 , 2014 is attributed to net income partially offset by dividends declared and common share repurchases . the insurance entities are required annually to comply with the naic risk-based capital ( “ rbc ” ) requirements . rbc requirements prescribe a method of measuring the amount of capital appropriate for an insurance company to support its overall business operations in light of its size and risk profile . naic 's rbc requirements are used by regulators to determine appropriate regulatory actions relating to insurers who show signs of weak or deteriorating condition . as of december 31 , 2014 , based on calculations using the appropriate naic rbc formula , the insurance entities ' reported total adjusted capital was in excess of the requirements . failure by the insurance entities to maintain the required level of statutory capital and surplus could result in the suspension of their authority to write new or renewal business , other regulatory actions , or ultimately , in the revocation of their certificate of authority by the oir .
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 Suspicious Activity Report : as a result of our growth strategy and initiatives , we have seen increases in policy count and insured value in florida and other states since december 31 , 2013. our expansion in states outside of florida is yielding growth in policy count of 37.2 % since december 31 , 2013. the following table provides policy count and total insured value for florida and other states as of december 31 , 2014 and 2013 ( dollars in thousands ) : replace_table_token_7_th our efforts to ensure rate adequacy has helped to improve underwriting results , leading to our decision to retain a greater share of our profitable business by reducing our quota share cession rate . 24 2014 highlights · we reduced our quota share cession rate from 45 % to 30 % in june · net earned premiums grew by $ 59.2 million or 22.1 % · total revenues increased by $ 68.1 million or 22.6 % · net income and diluted earnings per common share grew by $ 14.0 million and $ 0.52 , respectively compared to 2013 · we repurchased a total of 1,166,208 shares of our common stock in the open market under a share repurchase program · we paid dividends per common share of $ 0.55 including a $ 0.15 special dividend in december · in april , the insurance commissioner of delaware issued a certificate of authority to upcic , thereby approving upcic as a licensed insurance entity in the state of delaware · in april , upcic submitted applications to the regulatory entities in pennsylvania , consistent with the company 's strategy to increase geographical diversification · in june , upcic began writing homeowners insurance policies in delaware · in october , the indiana department of insurance issued a certificate of authority to upcic approving upcic as a licensed insurance entity in the state of indiana · in november , demotech , inc. , affirmed the financial stability rating® of “ a ” for the insurance entities · in december , we sold 1 million shares of common stock in a privately negotiated transaction at $ 19.00 per share which were issued from treasury trends the market price per share of our common stock has increased significantly over the past few years . as disclosed in “ item 8 — note 9 ( share-based compensation ) ” , stock price affects assumptions utilized in the pricing model for the fair value of stock option awards . in addition , the fair value of the restricted share grants are determined based on the market price of our common stock at the date of grant . as a result , the increase in our common stock price has contributed to the increase of share-based compensation . the increase in our stock price is also a factor in the company 's effective income tax rate due to an increase in non-deductible expenses including certain share-based compensation . 2014-2015 reinsurance program effective june 1 , 2014 , we entered into multiple reinsurance agreements comprising our 2014-2015 reinsurance program . see “ item 8 — note 4 ( reinsurance ) . ” reinsurance generally we use reinsurance to reduce our exposure to catastrophic and non-catastrophic losses through a combination of quota share , catastrophe and other forms of reinsurance . below is a description of our 2014-2015 reinsurance program . we believe that the overall terms of the 2014-2015 reinsurance program are more favorable than the 2013-2014 reinsurance program . we realized cost reductions in part due to market conditions and our preparation and efforts to manage risk exposure . we also are retaining a greater percentage of gross written premiums with wind risk than we did under our 2013-2014 reinsurance program by reducing our quota share cession rate by 15 percentage points . we expect to increase our overall profitability by retaining more premium ; however the reduction in the quota share cession rate affects several line items in our consolidated statements of income . by lowering our cession rate , we increase the amount of premium we retain as well as the related risk . this results in an increase in both earned premium and losses and lae . the lower cession rate also reduces the amount of ceding commissions we receive that offset costs associated with writing premium . this reduction in ceding commission increases general and administrative expenses . the overall reduction in reinsurance costs lowers the amount of brokerage commissions received by our wholly-owned reinsurance broker subsidiary . other favorable changes in the 2014-2015 reinsurance program include a reduction in the amount of risk retained per catastrophe occurrence to $ 21 million from $ 27.5 million under the 2013-2014 reinsurance program . 25 while we believe the changes to the current reinsurance program are beneficial , there can be no assurance that our actual results of operations or financial condition will be positively affected . the insurance entities remain responsible for insured losses notwithstanding the failure of any reinsurer to make payments otherwise due to the insurance entities . a major catastrophic event , multiple catastrophes , or the insolvency of one of the larger participants in the reinsurance program could have a material adverse effect on the insurance entities ' solvency and our results of operations , financial condition and liquidity . upcic reinsurance program upcic 's reinsurance program , which generally runs from june 1 through may 31 of the following year , consists of quota share , various forms of catastrophe coverage and individual property and liability per risk/per policy coverage . under the 2014-2015 reinsurance program , upcic retains a pre-tax liability of $ 21 million for the first , second and third catastrophic events under its florida program with coverage up to $ 1.794 billion . story_separator_special_tag often , different estimates are prepared for each detailed component , incorporating alternative analyses of changing claim settlement patterns and other influences on losses , from which a best estimate is selected for each component , occasionally incorporating additional analyses and actuarial judgment as described above . these estimates are not based on a single set of assumptions . based on a review of these estimates , the best estimate of required reserves is recorded for each accident year and the required reserves are summed to create the reserve balance carried on the consolidated balance sheets . reserves are re-estimated periodically by combining historical payment and reserving patterns with current actual results . when actual development of claims reported , paid losses or case reserve changes are different than the historical development pattern used in a prior period reserve estimate , and as actuarial studies validate new trends based on indications of updated development factor calculations , new ultimate loss and lae predictions are determined . this process incorporates the historic and latest trends , and other underlying changes in the data elements used to calculate reserve estimates . the difference between indicated reserves based on new reserve estimates and the previously recorded estimate of reserves is the amount of reserve re-estimates . the resulting increase or decrease in the reserve re-estimates is recorded and included in “ losses and loss adjustment expenses ” in the consolidated statements of income . total reserve re-estimates in 2014 , 2013 and 2012 , expressed as a percent of the net losses and lae liability balance as of the beginning of each year , were ( 0.8 % ) , ( 2.6 % ) , and 6.8 % , respectively . there are inherent uncertainties associated with this estimation process , especially for a company with limited development history . however , with the passing of each year , the company 's own historical trends have become more reliable for use in predicting future results . factors affecting reserve estimates reserve estimates are developed based on the processes and historical development trends as previously described . these estimates are considered in conjunction with known facts and interpretations of circumstances and factors including our experience with similar cases , actual claims paid , differing payment patterns and pending levels of unpaid claims , loss management programs , product mix and contractual terms , changes in law and regulation , judicial decisions , and economic conditions . when these types of changes are experienced , actuarial judgment is applied in the determination and selection of development factors in order to better reflect new trends or expectations . for example , if a change in law is expected to have a significant impact on the development of claim severity , actuarial judgment is applied to determine appropriate development factors that will most accurately reflect the expected impact on that specific estimate . this example appropriately describes the reserving methodology selection for use in estimating sinkhole liabilities after the passing of legislation , as noted above . another example would be when a change in economic conditions is expected to affect the cost of repairs to property ; actuarial judgment is applied to determine appropriate development factors to use in the reserve estimate that will most accurately reflect the expected impacts on severity development . 29 as claims are reported , for certain liability claims of sufficient size and complexity , the field adjusting staff establishes case reserve estimates of ultimate cost , based on their assessment of facts and circumstances related to each individual claim . for other claims which occur in large volumes and settle in a relatively short time frame , it is not practical or efficient to set case reserves for each claim , and an initial case reserve of $ 2,500 is set for these claims . in the normal course of business , we may also supplement our claims processes by utilizing third party adjusters , appraisers , engineers , inspectors , other professionals and information sources to assess and settle catastrophe and non-catastrophe related claims . changes in homeowners current year claim severity are generally influenced by inflation in the cost of building materials , the cost of construction and property repair services , the cost of replacing home furnishings and other contents , the types of claims that qualify for coverage , deductibles and other economic and environmental factors . we employ various loss management programs to mitigate the effect of these factors . key assumptions that materially affect the estimate of the reserve for loss and lae relate to the effects of emerging claim and coverage issues . as industry practices and legal , judicial , social and other environmental conditions change , unexpected and unintended issues related to claim and coverage may emerge . these issues may adversely affect our business by either extending coverage beyond our underwriting intent or by increasing the number or size of claims . key assumptions that are premised on future emergence that are inconsistent with historical loss reserve development patterns include but are not limited to : · adverse changes in loss cost trends , including inflationary pressures in home repair costs ; · judicial expansion of policy coverage and the impact of new theories of liability ; and · plaintiffs targeting property and casualty insurers , in purported class action litigation related to claims-handling and other practices . as loss experience for the current year develops for each type of loss , it is monitored relative to initial assumptions until it is judged to have sufficient statistical credibility . from that point in time and forward , reserves are re-estimated using statistical actuarial processes to reflect the impact loss trends have on development factors incorporated into the actuarial estimation processes . causes of reserve estimate uncertainty since reserves are estimates of the unpaid portions of claims and claims expenses that have occurred , the establishment of appropriate reserves , including

