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Reinsurance (Tables) | 3 Months Ended
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Mar. 31, 2021
Reinsurance Disclosures [Abstract] |
Reinsurance Recoverable, Credit Quality Indicator [Table Text Block] |
|  | March 31, 2021
($ in thousands) |  | Current |  | Past Due |  | Total Reinsurance Recoverables
Financial strength rating of rated reinsurers 1 |  |  |  |  |  |
A++ |  | $ | 37,939 |  |  | $ | 108 |  |  | $ | 38,047 |
A+ |  | 352,386 |  |  | 4,032 |  |  | 356,418 |
A |  | 105,068 |  |  | 387 |  |  | 105,455 |
A- |  | 2,177 |  |  | — |  |  | 2,177 |
B++ |  | 117 |  |  | 264 |  |  | 381 |
B+ |  | — |  |  | — |  |  | — |
Total rated reinsurers |  | $ | 497,687 |  |  | $ | 4,791 |  |  | $ | 502,478 |
Non-rated reinsurers |  |  |  |  |  |
Federal and state pools |  | $ | 76,179 |  |  | $ | — |  |  | $ | 76,179 |
Other than federal and state pools |  | 3,179 |  |  | 860 |  |  | 4,039 |
Total non-rated reinsurers |  | $ | 79,358 |  |  | $ | 860 |  |  | $ | 80,218 |
Total reinsurance recoverable, gross |  | $ | 577,045 |  |  | $ | 5,651 |  |  | $ | 582,696 |
Less: allowance for credit losses 2 |  |  |  |  |  | (1,840) |
Total reinsurance recoverable, net |  |  |  |  |  | $ | 580,856 |
1 Credit ratings as of March 31, 2021. 2 Represents our current expectation of credit losses on total current and past due reinsurance recoverables, and is not identifiable by reinsurer.
|  | December 31, 2020
($ in thousands) |  | Current |  | Past Due |  | Total Reinsurance Recoverables
Financial strength rating of rated reinsurers 1 |  |  |  |  |  |
A++ |  | $ | 37,464 |  |  | $ | 102 |  |  | $ | 37,566 |
A+ |  | 354,846 |  |  | 2,452 |  |  | 357,298 |
A |  | 105,652 |  |  | 415 |  |  | 106,067 |
A- |  | 2,139 |  |  | — |  |  | 2,139 |
B++ |  | 56 |  |  | 324 |  |  | 380 |
B+ |  | — |  |  | — |  |  | — |
Total rated reinsurers |  | $ | 500,157 |  |  | $ | 3,293 |  |  | $ | 503,450 |
Non-rated reinsurers |  |  |  |  |  |
Federal and state pools |  | $ | 82,575 |  |  | $ | — |  |  | $ | 82,575 |
Other than federal and state pools |  | 2,676 |  |  | 568 |  |  | 3,244 |
Total non-rated reinsurers |  | $ | 85,251 |  |  | $ | 568 |  |  | $ | 85,819 |
Total reinsurance recoverable, gross |  | $ | 585,408 |  |  | $ | 3,861 |  |  | $ | 589,269 |
Less: allowance for credit losses 2 |  |  |  |  |  | (1,777) |
Total reinsurance recoverable, net |  |  |  |  |  | $ | 587,492 |
Reinsurance Recoverable, Allowance for Credit Loss [Table Text Block] |
($ in thousands) |  | Quarter ended March 31, |  |
|  | 2021 |  | 2020 |  |  |  |
Balance at beginning of period |  | $ | 1,777 |  |  | $ | 4,400 |  |  |  |  |
Cumulative effect adjustment 1 |  | — |  |  | (2,903) |  |  |  |  |
Balance at beginning of period, as adjusted |  | $ | 1,777 |  |  | $ | 1,497 |  |  |  |  |
Current period provision for expected credit losses |  | 63 |  |  | 5 |  |  |  |  |
Write-offs charged against the allowance for credit losses |  | — |  |  | — |  |  |  |  |
Recoveries |  | — |  |  | — |  |  |  |  |
Allowance for credit losses, end of period |  | $ | 1,840 |  |  | 1,502 |  |  |  |  |
1 Represents the impact of our adoption of ASU 2016-13, Financial Instruments - Credit Losses.
Schedule of List Of Direct, Assumed, And Ceded Reinsurance Amounts |
|  | Quarter ended March 31, |  |
($ in thousands) |  | 2021 |  | 2020 |  |  |  |
Premiums written: |  |  |  |  |  |  |  |
Direct |  | $ | 908,774 |  |  | 746,431 |  |  |  |  |
Assumed |  | 5,533 |  |  | 6,043 |  |  |  |  |
Ceded |  | (116,129) |  |  | (105,147) |  |  |  |  |
Net |  | $ | 798,178 |  |  | 647,327 |  |  |  |  |
Premiums earned: |  |  |  |  |  |  |  |
Direct |  | $ | 837,369 |  |  | 754,892 |  |  |  |  |
Assumed |  | 5,676 |  |  | 6,173 |  |  |  |  |
Ceded |  | (118,085) |  |  | (109,362) |  |  |  |  |
Net |  | $ | 724,960 |  |  | 651,703 |  |  |  |  |
Loss and loss expenses incurred: |  |  |  |  |  |  |  |
Direct |  | $ | 441,507 |  |  | 425,795 |  |  |  |  |
Assumed |  | 3,447 |  |  | 4,898 |  |  |  |  |
Ceded |  | (31,553) |  |  | (30,369) |  |  |  |  |
Net |  | $ | 413,401 |  |  | 400,324 |  |  |  |  |
Schedule of Ceded Premiums and Losses Related to Flood Operations |
Ceded to NFIP |  | Quarter ended March 31, |  |
($ in thousands) |  | 2021 |  | 2020 |  |  |  |
Ceded premiums written |  | $ | (65,742) |  |  | (62,087) |  |  |  |  |
Ceded premiums earned |  | (67,519) |  |  | (66,861) |  |  |  |  |
Ceded loss and loss expenses incurred |  | (2,207) |  |  | (5,096) |  |  |  |  |

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