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)