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Reinsurance (Tables)
 12 Months Ended
Dec. 31, 2020
Reinsurance Disclosures [Abstract]  
Effects of reinsurance
The effects of reinsurance on the Company’s written and earned premiums and losses and loss adjustment expenses with unaffiliated reinsurers were as follows:
Year Ended December 31,
202020192018
Premiums Written
Direct$6,553,910 $5,681,523 $4,838,902 
Assumed3,534,158 2,457,437 2,122,102 
Ceded(2,650,352)(2,099,893)(1,614,257)
Net$7,437,716 $6,039,067 $5,346,747 
Premiums Earned
Direct$6,361,451 $5,447,829 $4,799,842 
Assumed3,213,873 2,337,950 1,988,038 
Ceded(2,583,389)(1,999,281)(1,555,905)
Net$6,991,935 $5,786,498 $5,231,975 
Losses and Loss Adjustment Expenses
Direct$4,392,392 $2,953,072 $2,472,133 
Assumed2,204,323 1,602,528 1,307,317 
Ceded(1,907,116)(1,422,148)(889,344)
Net$4,689,599 $3,133,452 $2,890,106 
Coverage and retention The following table summarizes the respective coverages and retentions at December 31, 2020:
December 31, 2020
Initial Coverage at IssuanceCurrent
Coverage		Remaining Retention, Net
Bellemeade 2017-1 Ltd. (1)368,114 145,573 125,953 
Bellemeade 2018-1 Ltd. (2)374,460 250,095 123,690 
Bellemeade 2018-2 Ltd. (3)653,278 108,395 305,606 
Bellemeade 2018-3 Ltd. (4)506,110 302,563 129,874 
Bellemeade 2019-1 Ltd. (5)341,790 219,256 116,530 
Bellemeade 2019-2 Ltd. (6)621,022 398,316 162,457 
Bellemeade 2019-3 Ltd. (7)700,920 528,084 181,036 
Bellemeade 2019-4 Ltd. (8)577,267 468,737 118,102 
Bellemeade 2020-1 Ltd. (9)528,540 308,458 754,782 
Bellemeade 2020-2 Ltd. (10)449,167 449,167 239,278 
Bellemeade 2020-3 Ltd. (11)451,816 451,816 171,580 
Bellemeade 2020-4 Ltd. (12)337,013 337,013 147,466 
Total$5,909,497 $3,967,473 $2,576,354 
(1)    Issued in October 2017, covering in-force policies issued between January 1, 2017 and June 30, 2017.
(2)    Issued in April 2018, covering in-force policies issued between July 1, 2017 and December 31, 2017.
(3)    Issued in August 2018, covering in-force policies issued between April 1, 2013 and December 31, 2015.
(4)    Issued in October 2018, covering in-force policies issued between January 1, 2018 and June 30, 2018.
(5)    Issued in March 2019, covering in-force policies primarily issued between 2005 to 2008 under United Guaranty Residential Insurance Company (“UGRIC”); as well as policies issued through 2015 under both UGRIC and Arch Mortgage Insurance Company.
(6)    Issued in April 2019, covering in-force policies issued between July 1, 2018 and December 31, 2018.
(7)    Issued in July 2019, covering in-force policies issued in 2016.
(8)    Issued in October 2019, covering in-force policies issued between January 1, 2019 and June 30, 2019.
(9)     Issued in June 2020, covering in-force policies issued between July 1, 2019 and December 31, 2019. $450 million was directly funded by Bellemeade 2020-1 Ltd. with an additional $79 million of capacity provided directly to Arch MI U.S. by a separate panel of reinsurers.
(10)    Issued in September 2020, covering in-force policies issued between January 1, 2020 and May 31, 2020. $423 million was directly funded by Bellemeade 2020-2 Ltd. with an additional $26 million of capacity provided directly to Arch MI U.S. by a separate panel of reinsurers.
(11)    Issued in November 2020, covering in-force policies issued between June 1, 2020 and August 31, 2020. $418 million was directly funded by Bellemeade 2020-3 Ltd. with an additional $34 million of capacity provided directly to Arch MI U.S. by a separate panel of reinsurers.
(12)    Issued in December 2020, covering in-force policies issued between July 1, 2019 and December 31, 2019. $321 million was directly funded by Bellemeade 2020-4 Ltd. with an additional $16 million of capacity provided directly to Arch MI U.S. by a separate panel of reinsurers.