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Reinsurance | 3 Months Ended
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Mar. 31, 2015
Reinsurance Disclosures [Abstract] |
Reinsurance | Reinsurance The following table contains a listing of direct, assumed, and ceded reinsurance amounts for premiums written, premiums earned, and loss and loss expenses incurred for the periods indicated. For more information concerning reinsurance, refer to Note 8. “Reinsurance” in Item 8. “Financial Statements and Supplementary Data.” of our 2014 Annual Report.
|  | Quarter ended March 31, |
($ in thousands) |  | 2015 |  | 2014 |
Premiums written: |  |  |  |  |  |  |
Direct |  | $ | 598,783 |  |  | 557,891 |  |
Assumed |  | 6,081 |  |  | 7,850 |  |
Ceded |  | (86,776 | ) |  | (88,991 | ) |
Net |  | $ | 518,088 |  |  | 476,750 |  |
Premiums earned: |  |  |  |  |  |  |
Direct |  | $ | 562,042 |  |  | 536,700 |  |
Assumed |  | 5,908 |  |  | 10,185 |  |
Ceded |  | (91,827 | ) |  | (90,390 | ) |
Net |  | $ | 476,123 |  |  | 456,495 |  |
Loss and loss expense incurred: |  |  |  |  |  |  |
Direct |  | $ | 312,246 |  |  | 358,349 |  |
Assumed |  | 4,662 |  |  | 7,479 |  |
Ceded |  | (31,909 | ) |  | (45,282 | ) |
Net |  | $ | 284,999 |  |  | 320,546 |  |
Ceded premiums and losses related to our participation in the NFIP, under which 100% of our flood premiums, losses, and loss expenses are ceded to the NFIP, are as follows:
Ceded to NFIP |  | Quarter ended March 31, |
($ in thousands) |  | 2015 |  | 2014 |
Ceded premiums written |  | $ | (53,842 | ) |  | (57,303 | ) |
Ceded premiums earned |  | (58,998 | ) |  | (58,286 | ) |
Ceded loss and loss expense incurred |  | (6,249 | ) |  | (7,379 | ) |

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- Definition The entire disclosure pertaining to the existence, magnitude and information about insurance that 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 FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 605 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6486672&loc=d3e27261-158547 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 605 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6486672&loc=d3e27374-158547 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6480758&loc=d3e6811-158387 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6480758&loc=d3e6816-158387 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.6,13) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 605 -Section 55 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=34714010&loc=d3e27795-158548 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 605 -Section 55 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=34714010&loc=d3e27703-158548 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 310 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6485557&loc=d3e21549-158491 + Details
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