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Reinsurance (Tables)
 12 Months Ended
Dec. 31, 2021
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,
202120202019
Premiums Written
Direct$7,706,832 $6,553,910 $5,681,523 
Assumed5,045,655 3,534,158 2,457,437 
Ceded(3,734,150)(2,650,352)(2,099,893)
Net$9,018,337 $7,437,716 $6,039,067 
Premiums Earned
Direct$7,149,794 $6,361,451 $5,447,829 
Assumed4,333,873 3,213,873 2,337,950 
Ceded(3,401,369)(2,583,389)(1,999,281)
Net$8,082,298 $6,991,935 $5,786,498 
Losses and Loss Adjustment Expenses
Direct$4,266,758 $4,392,392 $2,953,072 
Assumed2,826,820 2,204,323 1,602,528 
Ceded(2,508,775)(1,907,116)(1,422,148)
Net$4,584,803 $4,689,599 $3,133,452 
Coverage and retention
The following table summarizes the respective coverages and retentions at December 31, 2021:
December 31, 2021
Initial Coverage at IssuanceCurrent
Coverage		Remaining Retention, Net
Bellemeade 2017-1 Ltd. (1)$368,114 $108,368 $125,926 
Bellemeade 2018-1 Ltd. (2)374,460 181,136 122,118 
Bellemeade 2018-3 Ltd. (3)506,110 302,563 128,020 
Bellemeade 2019-1 Ltd. (4)341,790 181,324 97,845 
Bellemeade 2019-2 Ltd. (5)621,022 398,316 156,419 
Bellemeade 2019-3 Ltd. (6)700,920 409,859 181,583 
Bellemeade 2019-4 Ltd. (7)577,267 411,954 116,292 
Bellemeade 2020-2 Ltd. (8)449,167 218,877 222,567 
Bellemeade 2020-3 Ltd. (9)451,816 365,141 154,732 
Bellemeade 2020-4 Ltd. (10)337,013 186,065 129,824 
Bellemeade 2021-1 Ltd. (11)643,577 630,163 149,189 
Bellemeade 2021-2 Ltd. (12)616,017 616,017 139,763 
Bellemeade 2021-3 Ltd. (13)639,391 639,391 140,545 
Total$6,626,664 $4,649,174 $1,864,823 
(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 October 2018, covering in-force policies issued between January 1, 2018 and June 30, 2018.
(4)    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.
(5)    Issued in April 2019, covering in-force policies issued between July 1, 2018 and December 31, 2018.
(6)    Issued in July 2019, covering in-force policies issued in 2016.
(7)    Issued in October 2019, covering in-force policies issued between January 1, 2019 and June 30, 2019.
(8)    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.
(9)    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.
(10)    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.
(11) Issued in March 2021, covering in-force policies issued between September 1, 2020 and November 30, 2020. $580 million was directly funded by Bellemeade Re 2021-1 Ltd. with an additional $64 million capacity provided directly to Arch MI U.S. by a separate panel of reinsurers.
(12) Issued in June 2021, covering in-force policies issued between December 1, 2020 and March 31, 2021. $523 million was directly funded by Bellemeade Re 2021-2 Ltd. via insurance-linked notes, with an additional $93 million capacity provided directly to Arch MI U.S. by a separate panel of reinsurers.
(13) Issued in September 2021, covering in-force policies issued between April 1, 2021 and June 30, 2021. $508 million was directly funded by Bellemeade Re 2021-3 Ltd. via insurance-linked notes, with an additional $131 million capacity provided directly to Arch MI U.S. by a separate panel of reinsurers.