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 June 30,					Six Months ended June 30,
($ in thousands)	2015			2014		2015		2014
Premiums written:
Direct	$	621,408		572,314		1,220,191		1,130,205
Assumed	4,960			5,837		11,041		13,687
Ceded	(94,235		)	(98,328	)	(181,011	)	(187,319	)
Net	$	532,133		479,823		1,050,221		956,573
Premiums earned:
Direct	$	576,107		544,913		1,138,149		1,081,613
Assumed	5,093			10,385		11,001		20,570
Ceded	(90,891		)	(91,673	)	(182,718	)	(182,063	)
Net	$	490,309		463,625		966,432		920,120
Loss and loss expense incurred:
Direct	$	316,648		332,707		628,894		691,056
Assumed	4,228			7,377		8,890		14,856
Ceded	(29,315		)	(42,289	)	(61,224	)	(87,571	)
Net	$	291,561		297,795		576,560		618,341

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 June 30,					Six Months ended June 30,
($ in thousands)	2015			2014		2015		2014
Ceded premiums written	$	(62,479	)	(65,775	)	(116,321	)	(123,078	)
Ceded premiums earned	(58,781		)	(59,213	)	(117,779	)	(117,499	)
Ceded loss and loss expense incurred	(14,684		)	(26,712	)	(20,933	)	(34,091	)