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	)