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Premiums and Reinsurance Related Information | 6 Months Ended
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Jun. 30, 2022
Insurance [Abstract] |
Premiums and Reinsurance Related Information | Premiums and Reinsurance Related Information The following is a summary of insurance and reinsurance financial information:
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
(In thousands) | 2022 |  | 2021 |  | 2022 |  | 2021
Written premiums: |  |  |  |  |  |  |
Direct | $ | 2,757,739 |  |  | $ | 2,395,114 |  |  | $ | 5,300,075 |  |  | $ | 4,572,276 |
Assumed | 294,662 |  |  | 266,122 |  |  | 612,163 |  |  | 573,672 |
Ceded | (466,766) |  |  | (449,055) |  |  | (913,349) |  |  | (883,729) |
Total net premiums written | $ | 2,585,635 |  |  | $ | 2,212,181 |  |  | $ | 4,998,889 |  |  | $ | 4,262,219 |
Earned premiums: |  |  |  |  |  |  |
Direct | $ | 2,511,579 |  |  | $ | 2,151,739 |  |  | $ | 4,916,177 |  |  | $ | 4,154,784 |
Assumed | 292,547 |  |  | 259,166 |  |  | 584,920 |  |  | 518,707 |
Ceded | (446,968) |  |  | (439,281) |  |  | (894,853) |  |  | (851,911) |
Total net premiums earned | $ | 2,357,158 |  |  | $ | 1,971,624 |  |  | $ | 4,606,244 |  |  | $ | 3,821,580 |
Ceded losses and loss expenses incurred | $ | 305,196 |  |  | $ | 255,163 |  |  | $ | 548,490 |  |  | $ | 553,903 |
Ceded commissions earned | $ | 116,991 |  |  | $ | 106,834 |  |  | $ | 234,436 |  |  | $ | 208,515 |
The following table presents the rollforward of the allowance for expected credit losses for premiums and fees receivable for the six months ended June 30, 2022 and 2021:
(In thousands) | 2022 |  | 2021
Allowance for expected credit losses, beginning of period | $ | 25,218 |  |  | $ | 22,883 |
Provision for expected credit losses | 5,339 |  |  | 1,925 |
Allowance for expected credit losses, end of period | $ | 30,557 |  |  | $ | 24,808 |
The following table presents the rollforward of the allowance for expected credit losses for premiums and fees receivable for the three months ended June 30, 2022 and 2021:
(In thousands) | 2022 |  | 2021
Allowance for expected credit losses, beginning of period | $ | 28,236 |  |  | $ | 24,264 |
Provision for expected credit losses | 2,321 |  |  | 544 |
Allowance for expected credit losses, end of period | $ | 30,557 |  |  | $ | 24,808 |
The Company reinsures a portion of its insurance exposures in order to reduce its net liability on individual risks and catastrophe losses. The Company also cedes premiums to state assigned risk plans and captive insurance companies. Estimated amounts due from reinsurers are reported net of an allowance for expected credit losses. The following table presents the rollforward of the allowance for expected credit losses associated with due from reinsurers for the six months ended June 30, 2022 and 2021:
(In thousands) | 2022 |  | 2021
Allowance for expected credit losses, beginning of period | $ | 7,713 |  |  | $ | 7,801 |
Change in expected credit losses | 31 |  |  | (518) |
Allowance for expected credit losses, end of period | $ | 7,744 |  |  | $ | 7,283 |
The following table presents the rollforward of the allowance for expected credit losses associated with due from reinsurers for the three months ended June 30, 2022 and 2021:
(In thousands) | 2022 |  | 2021
Allowance for expected credit losses, beginning of period | $ | 7,655 |  |  | $ | 7,373 |
Change in expected credit losses | 89 |  |  | (90) |
Allowance for expected credit losses, end of period | $ | 7,744 |  |  | $ | 7,283 |

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- Definition The entire disclosure pertaining to the existence, magnitude and information about insurance that has been ceded to or assumed from another insurance company, including the methodologies and assumptions used in determining recorded amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -URI http://asc.fasb.org/topic&trid=2303980 + Details
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