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Reinsurance | 9 Months Ended
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Sep. 30, 2016
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 2015 Annual Report.
|  | Quarter ended September 30, |  | Nine Months ended September 30,
($ in thousands) |  | 2016 |  | 2015 |  | 2016 |  | 2015
Premiums written: |  |  |  |  |  |  |  |  |  |  |  |
Direct |  | $ | 669,844 |  |  | 631,429 |  |  | $ | 1,981,984 |  |  | 1,851,620 |
Assumed |  | 7,644 |  |  | 6,099 |  |  | 21,752 |  |  | 17,140 |
Ceded |  | (98,715 | ) |  | (92,503 | ) |  | (281,464 | ) |  | (273,514 | )
Net |  | $ | 578,773 |  |  | 545,025 |  |  | $ | 1,722,272 |  |  | 1,595,246 |
Premiums earned: |  |  |  |  |  |  |  |  |  |  |  |
Direct |  | $ | 627,520 |  |  | 590,716 |  |  | $ | 1,846,587 |  |  | 1,728,865 |
Assumed |  | 7,163 |  |  | 5,830 |  |  | 20,604 |  |  | 16,831 |
Ceded |  | (92,254 | ) |  | (89,156 | ) |  | (270,372 | ) |  | (271,874 | )
Net |  | $ | 542,429 |  |  | 507,390 |  |  | $ | 1,596,819 |  |  | 1,473,822 |
Loss and loss expense incurred: |  |  |  |  |  |  |  |  |  |  |  |
Direct |  | $ | 428,520 |  |  | 306,635 |  |  | $ | 1,152,223 |  |  | 935,529 |
Assumed |  | 5,929 |  |  | 4,224 |  |  | 18,424 |  |  | 13,114 |
Ceded |  | (118,191 | ) |  | (25,698 | ) |  | (258,766 | ) |  | (86,922 | )
Net |  | $ | 316,258 |  |  | 285,161 |  |  | $ | 911,881 |  |  | 861,721 |
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 September 30, |  | Nine Months ended September 30,
($ in thousands) |  | 2016 |  | 2015 |  | 2016 |  | 2015
Ceded premiums written |  | $ | (62,051 | ) |  | (62,463 | ) |  | $ | (179,205 | ) |  | (178,784 | )
Ceded premiums earned |  | (56,505 | ) |  | (58,340 | ) |  | (169,986 | ) |  | (176,119 | )
Ceded loss and loss expense incurred |  | (99,200 | ) |  | (15,382 | ) |  | (164,179 | ) |  | (36,315 | )

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