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 2015 Annual Report.



	Quarter ended March 31,
($ in thousands)	2016			2015
Premiums written:
Direct	$	646,278		598,783
Assumed	6,320			6,081
Ceded	(87,239		)	(86,776	)
Net	$	565,359		518,088
Premiums earned:
Direct	$	606,661		562,042
Assumed	6,270			5,908
Ceded	(90,473		)	(91,827	)
Net	$	522,458		476,123
Loss and loss expense incurred:
Direct	$	361,639		312,246
Assumed	6,355			4,662
Ceded	(70,850		)	(31,909	)
Net	$	297,144		284,999

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)	2016			2015
Ceded premiums written	$	(53,248	)	(53,842	)
Ceded premiums earned	(56,814		)	(58,998	)
Ceded loss and loss expense incurred	(40,718		)	(6,249	)