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 2016 Annual Report.



	Quarter ended March 31,
($ in thousands)	2017			2016
Premiums written:
Direct	$	683,820		646,278
Assumed	5,691			6,320
Ceded	(90,807		)	(87,239	)
Net	$	598,704		565,359
Premiums earned:
Direct	$	646,728		606,661
Assumed	5,779			6,270
Ceded	(91,653		)	(90,473	)
Net	$	560,854		522,458
Loss and loss expense incurred:
Direct	$	342,122		361,639
Assumed	4,437			6,355
Ceded	(29,087		)	(70,850	)
Net	$	317,472		297,144

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)	2017			2016
Ceded premiums written	$	(56,334	)	(53,248	)
Ceded premiums earned	(57,277		)	(56,814	)
Ceded loss and loss expense incurred	(6,541		)	(40,718	)