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Reinsurance | 6 Months Ended
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Jun. 30, 2017
Supplemental Schedule of Reinsurance Premiums for Insurance Companies [Abstract] |
Reinsurance | REINSURANCE The Company purchases reinsurance and other protection to manage its risk portfolio and to reduce its exposure to large losses. The Company currently has in place contracts that provide for recovery of a portion of certain claims and claim expenses, generally in excess of various retentions or on a proportional basis. In addition to loss recoveries, certain of the Company’s ceded reinsurance contracts provide for payments of additional premiums, for reinstatement premiums and for lost no-claims bonuses, which are incurred when losses are ceded to the respective reinsurance contracts. The Company remains liable to the extent that any reinsurance company fails to meet its obligations. The following table sets forth the effect of reinsurance and retrocessional activity on premiums written and earned and on net claims and claim expenses incurred:
|  | Three months ended |  | Six months ended |
|  | June 30, 2017 |  | June 30, 2016 |  | June 30, 2017 |  | June 30, 2016 |
| Premiums written |  |  |  |  |  |  |  |
| Direct | $ | 67,805 |  |  | $ | 57,541 |  |  | $ | 141,213 |  |  | $ | 100,717 |  |
| Assumed | 759,610 |  |  | 701,587 |  |  | 1,608,292 |  |  | 1,520,544 |  |
| Ceded | (271,670 | ) |  | (239,212 | ) |  | (649,624 | ) |  | (589,670 | ) |
| Net premiums written | $ | 555,745 |  |  | $ | 519,916 |  |  | $ | 1,099,881 |  |  | $ | 1,031,591 |  |
| Premiums earned |  |  |  |  |  |  |  |
| Direct | $ | 56,357 |  |  | $ | 37,936 |  |  | $ | 114,525 |  |  | $ | 71,076 |  |
| Assumed | 520,347 |  |  | 464,540 |  |  | 1,019,346 |  |  | 921,181 |  |
| Ceded | (194,439 | ) |  | (151,074 | ) |  | (385,561 | ) |  | (287,249 | ) |
| Net premiums earned | $ | 382,265 |  |  | $ | 351,402 |  |  | $ | 748,310 |  |  | $ | 705,008 |  |
| Claims and claim expenses |  |  |  |  |  |  |  |
| Gross claims and claim expenses incurred | $ | 189,903 |  |  | $ | 224,852 |  |  | $ | 441,707 |  |  | $ | 386,850 |  |
| Claims and claim expenses recovered | (47,316 | ) |  | (57,102 | ) |  | (106,039 | ) |  | (92,495 | ) |
| Net claims and claim expenses incurred | $ | 142,587 |  |  | $ | 167,750 |  |  | $ | 335,668 |  |  | $ | 294,355 |  |

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -URI http://asc.fasb.org/topic&trid=2303980 + Details
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- References No definition available. + Details
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