| Effect Of Reinsurance And Retrocessional Activity On Premiums Written And Earned And On Net Claims And Claim Expenses |
The following tables set forth the effect of reinsurance and retrocessional activity on premiums written and earned and on net claims and claim expenses incurred: | | | | | | | | | | | | | | | | | | Three months ended June 30, | 2012 | | 2011 | | | Premiums written | | | | | | Direct | $ | 11,736 |
| | $ | 9,309 |
| | | Assumed | 655,600 |
| | 632,254 |
| | | Ceded | (239,706 | ) | | (213,568 | ) | | | Net premiums written | $ | 427,630 |
| | $ | 427,995 |
| | | Premiums earned | | | | | | Direct | $ | 7,950 |
| | $ | 4,033 |
| | | Assumed | 341,620 |
| | 306,757 |
| | | Ceded | (105,154 | ) | | (93,615 | ) | | | Net premiums earned | $ | 244,416 |
| | $ | 217,175 |
| | | Claims and claim expenses | | | | | | Gross claims and claim expenses incurred | $ | 70,101 |
| | $ | 164,670 |
| | | Claims and claim expenses recovered | (20,550 | ) | | (13,409 | ) | | | Net claims and claim expenses incurred | $ | 49,551 |
| | $ | 151,261 |
| | | | | | | |
| | | | | | | | | | | | | | | | | | Six months ended June 30, | 2012 | | 2011 | | | Premiums written | | | | | | Direct | $ | 20,199 |
| | $ | 15,561 |
| | | Assumed | 1,311,288 |
| | 1,236,507 |
| | | Ceded | (411,282 | ) | | (371,498 | ) | | | Net premiums written | $ | 920,205 |
| | $ | 880,570 |
| | | Premiums earned | | | | | | Direct | $ | 15,737 |
| | $ | 6,515 |
| | | Assumed | 698,906 |
| | 701,292 |
| | | Ceded | (191,562 | ) | | (185,091 | ) | | | Net premiums earned | $ | 523,081 |
| | $ | 522,716 |
| | | Claims and claim expenses | | | | | | Gross claims and claim expenses incurred | $ | 85,383 |
| | $ | 1,027,993 |
| | | Claims and claim expenses recovered | (20,280 | ) | | (248,195 | ) | | | Net claims and claim expenses incurred | $ | 65,103 |
| | $ | 779,798 |
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