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Reinsurance (Tables)
 12 Months Ended
Dec. 31, 2015
Reinsurance Disclosures [Abstract]  
Schedule of Total Reinsurance Balances Segregated By Reinsurer
 
 
As of December 31, 2015
 
As of December 31, 2014
($ in thousands)
 
Reinsurance Balances
 
% of Reinsurance Balance
 
Reinsurance Balances
 
% of Reinsurance Balance
Total reinsurance recoverables
 
$
561,968

 
 

 
$
581,548

 
 

Total prepaid reinsurance premiums
 
140,889

 
 

 
146,993

 
 

   Total reinsurance balance
 
702,857

 
 

 
728,541

 
 

 
 
 
 
 
 
 
 
 
Federal and state pools1:
 
 

 
 

 
 

 
 

NFIP
 
164,130

 
24
%
 
172,547

 
24
%
NJ Unsatisfied Claim Judgment Fund
 
71,884

 
10

 
76,342

 
11

Other
 
3,136

 
—

 
2,557

 
—

Total federal and state pools
 
239,150

 
34

 
251,446

 
35

Remaining reinsurance balance
 
$
463,707

 
66

 
$
477,095

 
65

 
 
 
 
 
 
 
 
 
Munich Re Group (A.M. Best rated "A+")
 
$
112,889

 
16

 
$
110,270

 
15

Hannover Ruckversicherungs AG (A.M. Best rated "A+")
 
99,535

 
14

 
100,959

 
14

AXIS Reinsurance Company (A.M. Best rated "A+")
 
53,374

 
8

 
51,014

 
7

Swiss Re Group (A.M. Best rated "A+")
 
51,340

 
7

 
55,026

 
8

Partner Reinsurance Company of the U.S. (A.M. Best rated “Au”)
 
20,748

 
3

 
25,424

 
3

All other reinsurers
 
125,821

 
18

 
134,402

 
18

   Total reinsurers
 
463,707

 
66
%
 
477,095

 
65
%
Less: collateral2
 
(106,449
)
 
 
 
(114,843
)
 
 
   Reinsurers, net of collateral
 
$
357,258

 
 
 
$
362,252

 
 

 1 Considered to have minimal risk of default.
2 Includes letters of credit, trust funds, and funds held against reinsurance recoverables.

Note: Some amounts may not foot due to rounding.
List Of Direct, Assumed, And Ceded Reinsurance Amounts
($ in thousands)
 
2015
 
2014
 
2013
Premiums written:
 
 

 
 

 
 

Direct
 
$
2,403,519

 
2,228,270

 
2,133,793

Assumed
 
23,848

 
26,306

 
43,650

Ceded
 
(357,463
)
 
(369,296
)
 
(367,284
)
Net
 
$
2,069,904

 
1,885,280

 
1,810,159

 
 
 
 
 
 
 
Premiums earned:
 
 

 
 

 
 

Direct
 
$
2,330,267

 
2,183,258

 
2,048,530

Assumed
 
23,209

 
34,653

 
44,464

Ceded
 
(363,567
)
 
(365,302
)
 
(356,922
)
Net
 
$
1,989,909

 
1,852,609

 
1,736,072

 
 
 
 
 
 
 
Losses and loss expenses incurred:
 
 

 
 

 
 

Direct
 
$
1,274,872

 
1,314,864

 
1,370,293

Assumed
 
16,996

 
26,187

 
32,678

Ceded
 
(143,327
)
 
(183,550
)
 
(281,233
)
Net
 
$
1,148,541

 
1,157,501

 
1,121,738
Schedule of Ceded Premiums and Losses Related to Flood Operations
Ceded to NFIP ($ in thousands)
 
2015
 
2014
 
2013
Ceded premiums written
 
$
(228,907
)
 
(237,718
)
 
(236,309
)
Ceded premiums earned
 
(233,940
)
 
(234,224
)
 
(228,650
)
Ceded losses and loss expenses incurred
 
(62,078
)
 
(57,323
)
 
(183,142
)