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Reinsurance (Tables)
 12 Months Ended
Dec. 31, 2017
Reinsurance Disclosures [Abstract]  
Schedule of Total Reinsurance Balances Segregated By Reinsurer
 
 
As of December 31, 2017
 
As of December 31, 2016
($ in thousands)
 
Reinsurance Balances
 
% of Reinsurance Balance
 
Reinsurance Balances
 
% of Reinsurance Balance
Total reinsurance recoverables
 
$
594,832

 
 

 
$
621,537

 
 

Total prepaid reinsurance premiums
 
153,493

 
 

 
146,282

 
 

Total reinsurance balance
 
748,325

 
 

 
767,819

 
 

 
 
 
 
 
 
 
 
 
Federal and state pools1:
 
 

 
 

 
 

 
 

NFIP
 
204,161

 
27
%
 
211,181

 
27
%
New Jersey Unsatisfied Claim Judgment Fund
 
62,947

 
9

 
65,574

 
9

Other
 
3,634

 
—

 
3,227

 
—

Total federal and state pools
 
270,742

 
36

 
279,982

 
36

Remaining reinsurance balance
 
$
477,583

 
64

 
$
487,837

 
64

 
 
 
 
 
 
 
 
 
Munich Re Group (A.M. Best rated "A+")
 
$
117,460

 
16

 
$
119,520

 
16

Hannover Ruckversicherungs AG (A.M. Best rated "A+")
 
101,652

 
14

 
106,298

 
13

AXIS Reinsurance Company (A.M. Best rated "A+")
 
62,396

 
8

 
59,737

 
8

Swiss Re Group (A.M. Best rated "A+")
 
40,772

 
5

 
50,494

 
7

Partner Reinsurance Company of the U.S. (A.M. Best rated “A”)
 
16,925

 
2

 
21,125

 
3

All other reinsurers
 
138,378

 
19

 
130,663

 
17

   Total reinsurers
 
477,583

 
64
%
 
487,837

 
64
%
Less: collateral2
 
(122,413
)
 
 
 
(113,763
)
 
 
   Reinsurers, net of collateral
 
$
355,170

 
 
 
$
374,074

 
 

 1 Considered to have minimal risk of default.
2 Includes letters of credit, trust funds, and funds held against reinsurance recoverables.
List Of Direct, Assumed, And Ceded Reinsurance Amounts
($ in thousands)
 
2017
 
2016
 
2015
Premiums written:
 
 

 
 

 
 

Direct
 
$
2,733,459

 
2,577,259

 
2,403,519

Assumed
 
26,685

 
28,779

 
23,848

Ceded
 
(389,503
)
 
(368,750
)
 
(357,463
)
Net
 
$
2,370,641

 
2,237,288

 
2,069,904

 
 
 
 
 
 
 
Premiums earned:
 
 

 
 

 
 

Direct
 
$
2,647,488

 
2,484,715

 
2,330,267

Assumed
 
25,831

 
28,214

 
23,209

Ceded
 
(382,292
)
 
(363,357
)
 
(363,567
)
Net
 
$
2,291,027

 
2,149,572

 
1,989,909

 
 
 
 
 
 
 
Loss and loss expense incurred:
 
 

 
 

 
 

Direct
 
$
1,570,678

 
1,560,356

 
1,274,872

Assumed
 
17,588

 
22,708

 
16,996

Ceded
 
(243,192
)
 
(348,267
)
 
(143,327
)
Net
 
$
1,345,074

 
1,234,797

 
1,148,541
Schedule of Ceded Premiums and Losses Related to Flood Operations
Ceded to NFIP ($ in thousands)
 
2017
 
2016
 
2015
Ceded premiums written
 
$
(241,345
)
 
(232,245
)
 
(228,907
)
Ceded premiums earned
 
(235,088
)
 
(227,882
)
 
(233,940
)
Ceded loss and loss expense incurred
 
(160,922
)
 
(239,891
)
 
(62,078
)