Reinsurance

6 Months Ended

Jun. 30, 2019

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 2018 Annual Report.



	Quarter ended June 30,					Six Months ended June 30,
($ in thousands)	2019			2018		2019			2018
Premiums written:
Direct	$	807,367		753,363		$	1,573,761		1,467,597
Assumed	5,333			6,536		11,888			12,807
Ceded	(111,303		)	(104,651	)	(211,305		)	(200,596	)
Net	$	701,397		655,248		$	1,374,344		1,279,808
Premiums earned:
Direct	$	740,348		696,723		$	1,468,385		1,380,456
Assumed	5,742			6,612		12,304			12,736
Ceded	(103,471		)	(98,499	)	(205,497		)	(196,528	)
Net	$	642,619		604,836		$	1,275,192		1,196,664
Loss and loss expenses incurred:
Direct	$	435,700		391,014		$	860,357		811,930
Assumed	4,348			2,364		9,613			10,368
Ceded	(59,064		)	(27,050	)	(102,407		)	(71,029	)
Net	$	380,984		366,328		$	767,563		751,269

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)	2019			2018		2019			2018
Ceded premiums written	$	(71,574	)	(66,341	)	$	(131,587	)	(123,010	)
Ceded premiums earned	(63,804		)	(60,143	)	(126,067		)	(119,134	)
Ceded loss and loss expenses incurred	(21,063		)	(10,261	)	(34,749		)	(25,980	)

Excluding the impact of our participation in the NFIP, ceded loss and loss expenses incurred increased in Second Quarter and Six Months 2019 compared to the respective prior year periods, due to one significant fire loss in Second Quarter 2019 that added $17.4 million to ceded loss and loss expenses.