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Reinsurance (Tables)

12 Months Ended

Dec. 31, 2011

Reinsurance [Abstract]

Total Reinsurance Balances Segregated By Reinsurer

		As of December 31, 2011					As of December 31, 2010
				% of Net					% of Net
		Reinsurance		Unsecured			Reinsurance		Unsecured
($ in thousands)		Balances		Reinsurance			Balances		Reinsurance
Total reinsurance recoverables	$	561,855				$	318,752
Total prepaid reinsurance premiums		147,686					110,327
Less: collateral1		(146,364)					(81,707)
Net unsecured reinsurance balances		563,177					347,372
Federal and state pools2:
NJ Unsatisfied Claim Judgment Fund		69,179		12	%		62,098		18	%
National Flood Insurance Program ("NFIP")		267,600		48			119,241		34
Other		4,235		1			5,157		2
Total federal and state pools		341,014		61			186,496		54
Remaining unsecured reinsurance		222,163		39			160,876		46
Hannover Ruckversicherungs AG (A.M. Best rated "A")		50,636		9			33,203		10
Munich Re Group (A.M. Best rated "A+")		34,902		6			29,312		8
Swiss Re Group (A.M. Best rated "A+")		28,634		5			24,552		7
AXIS Reinsurance Company (A.M. Best rated "A")		26,172		5			15,665		5
Partner Reinsurance Company of the U.S.(A.M. Best rated "A+")		19,105		3			14,206		4
All other reinsurers		62,714		11			43,938		12
Total	$	222,163		39	%	$	160,876		46	%
1 Includes letters of credit, trust funds, and funds withheld.
2 Considered to have minimal risk of default.
Note: Some amounts may not foot due to rounding

List of Direct, Assumed, and Ceded Reinsurance Amounts

($ in thousands)		2011		2010		2009
Premiums written:
Direct	$	1,725,393		1,634,415		1,657,142
Assumed		51,515		25,254		22,784
Ceded		(291,559)		(269,128)		(257,271)
Net	$	1,485,349		1,390,541		1,422,655
Premiums earned:
Direct	$	1,693,021		1,654,301		1,657,911
Assumed		29,011		26,619		21,501
Ceded		(282,719)		(264,322)		(248,365)
Net	$	1,439,313		1,416,598		1,431,047
Losses and loss expenses incurred:
Direct	$	1,499,340		1,102,326		1,065,594
Assumed		20,788		14,994		14,794
Ceded		(445,141)		(135,202)		(108,483)
Net	$	1,074,987		982,118		971,905

Ceded Premiums and Losses Related to Flood Operations

($ in thousands)		2011		2010		2009
Ceded premiums written	$	(206,711)		(190,964)		(178,934)
Ceded premiums earned		(198,153)		(184,833)		(171,941)
Ceded losses and loss expenses incurred		(352,619)		(60,479)		(35,597)

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- Definition

Schedule of the company's direct, assumed and ceded reinsurance amounts by premiums written, premiums earned, and losses and loss expenses incurred.

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This table discloses the premiums and losses and loss expenses that are ceded to the National Flood Insurance Program.

+ References

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- Definition

Tabular disclosure of names of reinsurers that have assumed risk of the entity's contractual insurance obligation and amounts assumed for purposes of disclosing concentration of credit risk by reinsurer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 825

-Section 55

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6487554&loc=d3e32600-158583



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 20

-URI http://asc.fasb.org/extlink&oid=6947722&loc=d3e13531-108611



Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 15A

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 113

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 21

-Subparagraph (a),(b)

-URI http://asc.fasb.org/extlink&oid=6947722&loc=d3e13537-108611

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