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Reinsurance (Tables) | 12 Months Ended
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Dec. 31, 2013
Reinsurance Disclosures [Abstract] |
Schedule of Total Reinsurance Balances Segregated By Reinsurer |
|  | As of December 31, 2013 |  | As of December 31, 2012
($ in thousands) |  | Reinsurance Balances |  | % of Net Unsecured Reinsurance |  | Reinsurance Balances |  | % of Net Unsecured Reinsurance
Total reinsurance recoverables |  | $ | 550,897 |  |  |  |  |  | $ | 1,421,109 |  |  |
Total prepaid reinsurance premiums |  | 143,000 |  |  |  |  |  | 132,637 |  |  |
Less: collateral 1 |  | (119,732 | ) |  |  |  |  | (139,335 | ) |  |
Net unsecured reinsurance balances |  | 574,165 |  |  |  |  |  | 1,414,411 |  |  |
Federal and state pools 2: |  |  |  |  |  |  |  |  |  |  |
NFIP |  | 177,637 |  |  | 31 |  |  | 1,028,685 |  |  | 73
NJ Unsatisfied Claim Judgment Fund |  | 71,732 |  |  | 12 |  |  | 68,655 |  |  | 5
Other |  | 3,034 |  |  | 1 |  |  | 5,749 |  |  | —
Total federal and state pools |  | 252,403 |  |  | 44 |  |  | 1,103,089 |  |  | 78
Remaining unsecured reinsurance |  | 321,762 |  |  | 56 |  |  | 311,322 |  |  | 22
Hannover Ruckversicherungs AG (A.M. Best rated “A+”) |  | 72,565 |  |  | 13 |  |  | 60,358 |  |  | 4
Munich Re Group (A.M. Best rated “A+”) |  | 69,749 |  |  | 12 |  |  | 66,283 |  |  | 5
Swiss Re Group (A.M. Best rated “A+”) |  | 48,234 |  |  | 8 |  |  | 52,189 |  |  | 4
AXIS Reinsurance Company (A.M. Best rated “A+”) |  | 45,114 |  |  | 8 |  |  | 35,064 |  |  | 3
Partner Reinsurance Company of the U.S. (A.M. Best rated “A+”) |  | 25,730 |  |  | 4 |  |  | 20,074 |  |  | 1
QBE Reinsurance Corporation (A.M. Best rated "A") |  | 15,665 |  |  | 3 |  |  | 13,871 |  |  | 1
All other reinsurers |  | 44,705 |  |  | 8 |  |  | 63,483 |  |  | 4
Total |  | $ | 321,762 |  |  | 56 | % |  | $ | 311,322 |  |  | 22
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) |  | 2013 |  | 2012 |  | 2011
Premiums written: |  |  |  |  |  |  |  |  |
Direct |  | $ | 2,133,793 |  |  | 1,955,667 |  |  | 1,725,396 |
Assumed |  | 43,650 |  |  | 50,938 |  |  | 51,515 |
Ceded |  | (367,284 | ) |  | (339,722 | ) |  | (291,559 | )
Net |  | $ | 1,810,159 |  |  | 1,666,883 |  |  | 1,485,352 |
Premiums earned: |  |  |  |  |  |  |  |  |
Direct |  | $ | 2,048,530 |  |  | 1,873,007 |  |  | 1,693,021 |
Assumed |  | 44,464 |  |  | 65,884 |  |  | 29,011 |
Ceded |  | (356,922 | ) |  | (354,772 | ) |  | (282,719 | )
Net |  | $ | 1,736,072 |  |  | 1,584,119 |  |  | 1,439,313 |
Losses and loss expenses incurred: |  |  |  |  |  |  |  |  |
Direct |  | $ | 1,370,293 |  |  | 2,394,640 |  |  | 1,499,340 |
Assumed |  | 32,678 |  |  | 29,175 |  |  | 20,788 |
Ceded |  | (281,233 | ) |  | (1,302,825 | ) |  | (445,141 | )
Net |  | $ | 1,121,738 |  |  | 1,120,990 |  |  | 1,074,987 |
Schedule of Ceded Premiums and Losses Related to Flood Operations |
($ in thousands) |  | 2013 |  | 2012 |  | 2011
Ceded premiums written |  | $ | (236,309 | ) |  | (221,094 | ) |  | (206,711 | )
Ceded premiums earned |  | (228,650 | ) |  | (212,177 | ) |  | (198,153 | )
Ceded losses and loss expenses incurred |  | (183,142 | ) |  | (1,119,303 | ) |  | (352,619 | )

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