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Reinsurance (Tables) | 3 Months Ended
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Mar. 31, 2018
Reinsurance Disclosures [Abstract] |
Effect of reinsurance agreement | The effect of all of our reinsurance agreements on premiums earned and losses incurred is shown in table 4.1 below.
| Table | 4.1 |  |  |  |
Reinsurance |  |  |  | Three Months Ended March 31,
| (In thousands) |  | 2018 |  | 2017
| Premiums earned: |  |  |  |
| Direct |  | $ | 265,251 |  |  | $ | 259,428 |
| Assumed |  | 121 |  |  | 98 |
| Ceded |  | (33,265 | ) |  | (30,423 | )
| Net premiums earned |  | $ | 232,107 |  |  | $ | 229,103 |
| Losses incurred: |  |  |  |
| Direct |  | $ | 31,501 |  |  | $ | 32,413 |
| Assumed |  | 90 |  |  | 105 |
| Ceded |  | (7,741 | ) |  | (4,899 | )
| Losses incurred, net |  | $ | 23,850 |  |  | $ | 27,619 |
Effect of quota share reinsurance agreements on premiums earned and losses incurred | Table 4.2 below presents a summary of our quota share reinsurance agreements, excluding captive agreements (which were immaterial), for the three months ended March 31, 2018 and 2017.
| Table | 4.2 |  |  |  |
Quota share reinsurance |  |  |  | Three Months Ended March 31,
(In thousands) |  | 2018 |  | 2017
| Ceded premiums written and earned, net of profit commission (1) |  | $ | 33,036 |  |  | $ | 28,895 |
| Ceded losses incurred |  | 7,788 |  |  | 4,687 |
| Ceding commissions (2) |  | 12,645 |  |  | 12,003 |
| Profit commission |  | 30,189 |  |  | 31,117 |
(1) | Under our QSR Transactions, premiums are ceded on an earned and received basis as defined in the agreements.
(2) | Ceding commissions are reported within Other underwriting and operating expenses, net on the consolidated statements of operations.

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- Definition Tabular disclosure of the effect of quota share reinsurance agreements on premiums earned and losses incurred. + References No definition available. + Details
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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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