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Reinsurance (Tables) | 12 Months Ended
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Dec. 31, 2016
Reinsurance Disclosures [Abstract] |
Effect of reinsurance agreements on premiums earned and losses incurred | The effect of all reinsurance agreements on premiums earned and losses incurred, which is reflected in the consolidated statements of operations, is as follows:
|  | Years ended December 31,
(In thousands) |  | 2016 |  | 2015 |  | 2014
Premiums earned: |  |  |  |  |  |
Direct |  | $ | 1,058,545 |  |  | $ | 997,892 |  |  | $ | 950,973 |
Assumed |  | 662 |  |  | 1,178 |  |  | 1,653 |
Ceded |  | (133,981 | ) |  | (102,848 | ) |  | (108,255 | )
Net premiums earned |  | $ | 925,226 |  |  | $ | 896,222 |  |  | $ | 844,371 |
Losses incurred: |  |  |  |  |  |
Direct |  | $ | 273,207 |  |  | $ | 369,680 |  |  | $ | 524,051 |
Assumed |  | 1,138 |  |  | 1,552 |  |  | 2,012 |
Ceded |  | (34,188 | ) |  | (27,685 | ) |  | (29,986 | )
Net losses incurred |  | $ | 240,157 |  |  | $ | 343,547 |  |  | $ | 496,077 |
Quota share reinsurance, excluding captive agreements | Following is a summary of our quota share reinsurance agreements, excluding captive agreements, for 2016, 2015 and 2014.
|  | Years ended December 31,
(In thousands) |  | 2016 |  | 2015 |  | 2014
2015 QSR Transaction (Effective July 1, 2015) |  |  |  |  |  |
Ceded premiums written, net of profit commission (1) |  | $ | 125,460 |  |  | $ | 52,588 |  |  | n/a |
Ceded premiums earned, net of profit commission (1) |  | 125,460 |  |  | 52,588 |  |  | n/a |
Ceded losses incurred |  | 30,201 |  |  | 11,424 |  |  | n/a |
Ceding commissions (2) |  | 47,629 |  |  | 20,582 |  |  | n/a |
Profit commission |  | 112,685 |  |  | 50,322 |  |  | n/a |
2013 QSR Transaction |  |  |  |  |  |
Ceded premiums written, net of profit commission |  | n/a |  |  | $ | (11,355 | ) | (3) | $ | 100,031 |
Ceded premiums earned, net of profit commission |  | n/a |  |  | 35,999 |  | (3) | 88,528 |
Ceded losses incurred |  | n/a |  |  | 6,060 |  |  | 15,163 |
Ceding commissions (2) |  | n/a |  |  | 10,235 |  | (3) | 37,833 |
Profit commission |  | n/a |  |  | 62,525 |  | (3) | 89,133 |
(1) | As of July 1, 2015, premiums are ceded on an earned and received basis as defined in our 2015 QSR Transaction.
(2) | Ceding commissions are reported within Other underwriting and operating expenses, net on the consolidated statements of operations.
(3) | The year ended December 31, 2015 includes the non-recurring impact of commuting our 2013 QSR Transaction. The commutation had no impact on ceded losses incurred.

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- Definition Tabular disclosure of the effects of reinsurance, for example, but not limited to, disclosure of direct, assumed, and ceded insurance. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 605 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6486672&loc=d3e27261-158547 + Details
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