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Reinsurance (Tables)
 12 Months Ended
Dec. 31, 2019
Reinsurance Disclosures [Abstract]  
Schedule of Total Reinsurance Balances Segregated By Reinsurer
 
 
As of December 31, 2019
 
As of December 31, 2018
($ in thousands)
 
Reinsurance Balances
 
% of Reinsurance Balance
 
Reinsurance Balances
 
% of Reinsurance Balance
Total reinsurance recoverables
 
$
573,235

 
 

 
$
549,172

 
 

Total prepaid reinsurance premiums
 
166,705

 
 

 
157,723

 
 

Total reinsurance balance
 
739,940

 
 

 
706,895

 
 

 
 
 
 
 
 
 
 
 
Federal and state pools1:
 
 

 
 

 
 

 
 

NFIP
 
175,472

 
24
%
 
170,453

 
24
%
New Jersey Unsatisfied Claim Judgment Fund
 
53,732

 
6

 
55,167

 
7

Other
 
2,449

 
1

 
3,602

 
1

Total federal and state pools
 
231,653

 
31

 
229,222

 
32

Remaining reinsurance balance
 
$
508,287

 
69

 
$
477,673

 
68

 
 
 
 
 
 
 
 
 
Munich Re Group (A.M. Best rated "A+")
 
$
119,748

 
16

 
$
112,841

 
16

Hannover Ruckversicherungs AG (A.M. Best rated "A+")
 
107,474

 
15

 
101,835

 
14

AXIS Reinsurance Company (A.M. Best rated "A+")
 
73,009

 
10

 
69,102

 
10

Swiss Re Group (A.M. Best rated "A+")
 
37,190

 
5

 
37,519

 
5

Transatlantic Reinsurance Company (A.M. Best rated “A+”)
 
21,824

 
3

 
17,686

 
3

All other reinsurers
 
149,042

 
20

 
138,690

 
20

   Total reinsurers
 
508,287

 
69
%
 
477,673

 
68
%
Less: collateral2
 
(110,549
)
 
 
 
(112,201
)
 
 
   Reinsurers, net of collateral
 
$
397,738

 
 
 
$
365,472

 
 

 1Considered to have minimal risk of default.
2Includes letters of credit, trust funds, and funds held against reinsurance recoverables.
List Of Direct, Assumed, And Ceded Reinsurance Amounts
($ in thousands)
 
2019
 
2018
 
2017
Premiums written:
 
 

 
 

 
 

Direct
 
$
3,084,451

 
2,890,633

 
2,733,459

Assumed
 
24,339

 
26,250

 
26,685

Ceded
 
(429,366
)
 
(402,597
)
 
(389,503
)
Net
 
$
2,679,424

 
2,514,286

 
2,370,641

 
 
 
 
 
 
 
Premiums earned:
 
 

 
 

 
 

Direct
 
$
2,993,157

 
2,808,764

 
2,647,488

Assumed
 
24,399

 
25,831

 
25,831

Ceded
 
(420,385
)
 
(398,366
)
 
(382,292
)
Net
 
$
2,597,171

 
2,436,229

 
2,291,027

 
 
 
 
 
 
 
Loss and loss expense incurred:
 
 

 
 

 
 

Direct
 
$
1,714,880

 
1,706,951

 
1,570,678

Assumed
 
22,879

 
21,469

 
17,588

Ceded
 
(186,268
)
 
(230,286
)
 
(243,192
)
Net
 
$
1,551,491

 
1,498,134

 
1,345,074
Schedule of Ceded Premiums and Losses Related to Flood Operations
Ceded to NFIP ($ in thousands)
 
2019
 
2018
 
2017
Ceded premiums written
 
$
(266,925
)
 
(248,053
)
 
(241,345
)
Ceded premiums earned
 
(259,119
)
 
(244,238
)
 
(235,088
)
Ceded loss and loss expense incurred
 
(71,676
)
 
(144,967
)
 
(160,922
)