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Reinsurance | 6 Months Ended
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Jun. 30, 2011
Reinsurance [Abstract] |
Reinsurance | NOTE 8. Reinsurance The following table contains a listing of direct, assumed, and ceded reinsurance amounts for premiums written, premiums earned, and losses and loss expenses incurred. For more information concerning reinsurance, refer to Note 8. "Reinsurance" in Item 8. "Financial Statements and Supplementary Data." in our 2010 Annual Report. ##
|  | Quarter ended |  | Six Months ended
|  | June 30, |  | June 30,
($ in thousands) |  | 2011 |  | 2010 |  |  | 2011 |  | 2010
Premiums written: |  |  |  |  |  |  |  |  |
Direct | $ | 447,595 |  | 414,913 |  |  | 870,937 |  | 842,749
Assumed |  | 1,537 |  | 947 |  |  | 7,190 |  | 6,189
Ceded |  | (74,629) |  | (62,336) |  |  | (141,789) |  | (127,323)
Net | $ | 374,503 |  | 353,524 |  |  | 736,338 |  | 721,615
Premiums earned: |  |  |  |  |  |  |  |  |
Direct | $ | 418,977 |  | 411,595 |  |  | 831,856 |  | 825,153
Assumed |  | 5,351 |  | 4,682 |  |  | 11,240 |  | 11,700
Ceded |  | (68,748) |  | (64,087) |  |  | (136,173) |  | (128,461)
Net | $ | 355,580 |  | 352,190 |  |  | 706,923 |  | 708,392
Losses and loss expenses incurred: |  |  |  |  |  |  |  |  |
Direct | $ | 296,963 |  | 256,959 |  |  | 566,367 |  | 557,320
Assumed |  | 3,739 |  | 3,023 |  |  | 7,572 |  | 4,923
Ceded |  | (26,147) |  | (20,002) |  |  | (50,178) |  | (68,120)
Net | $ | 274,555 |  | 239,980 |  |  | 523,761 |  | 494,123
The ceded premiums and losses related to our involvement with the National Flood Insurance Program ("NFIP"), in which all of our Flood premiums, losses, and loss expenses are ceded to the NFIP, are as follows:
National Flood Insurance Program |  | Quarter ended |  | Six Months ended
|  | June 30, |  | June 30,
($ in thousands) |  | 2011 |  | 2010 |  |  | 2011 |  | 2010
Ceded premiums written | $ | (55,265) |  | (44,566) |  | $ | (103,579) |  | (90,458)
Ceded premiums earned |  | (48,907) |  | (45,495) |  |  | (96,855) |  | (89,980)
Ceded losses and loss expenses incurred |  | (15,339) |  | (8,122) |  |  | (29,879) |  | (43,076)
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- Definition This element may be used as a single block of text to encapsulate the entire disclosure, including data and tables, pertaining to the existence, magnitude and information about insurance which 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 AICPA -Name Statement of Position (SOP) -Number 92-5 -Paragraph 19 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 113 -Paragraph 27, 120 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 6, 13 -Article 7 + Details
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