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 June 30,					Six Months ended June 30,
($ in thousands)	2016			2015		2016			2015
Premiums written:
Direct	$	665,862		621,408		$	1,312,140		1,220,191
Assumed	7,788			4,960		14,108			11,041
Ceded	(95,510		)	(94,235	)	(182,749		)	(181,011	)
Net	$	578,140		532,133		$	1,143,499		1,050,221
Premiums earned:
Direct	$	612,406		576,107		$	1,219,067		1,138,149
Assumed	7,171			5,093		13,441			11,001
Ceded	(87,645		)	(90,891	)	(178,118		)	(182,718	)
Net	$	531,932		490,309		$	1,054,390		966,432
Loss and loss expense incurred:
Direct	$	362,064		316,648		$	723,703		628,894
Assumed	6,140			4,228		12,495			8,890
Ceded	(69,725		)	(29,315	)	(140,575		)	(61,224	)
Net	$	298,479		291,561		$	595,623		576,560

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)	2016			2015		2016			2015
Ceded premiums written	$	(63,906	)	(62,479	)	$	(117,154	)	(116,321	)
Ceded premiums earned	(56,667		)	(58,781	)	(113,481		)	(117,779	)
Ceded loss and loss expense incurred	(24,261		)	(14,684	)	(64,979		)	(20,933	)