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Third Party Reinsurance (Tables) | 12 Months Ended
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Dec. 31, 2016
Reinsurance Disclosures [Abstract] |
Reinsurance Retention Policy | The following table summarizes the reinsurance coverage currently in effect as of December 31, 2016:
$ in millions |  |  |  |  |  |  |  |  |  |
Coverage |  | Contract Type |  | Renewal Date |  | First-Dollar Retention |  | Per Risk Limit Purchased |  | Maximum Retention
Corporate Property Catastrophe - Property and Inland Marine |  | Excess of Loss |  | 5/1 |  | $ | 20.0 |  |  | $ | 110.0 |  |  | $ | 20.0 |
Property Per Risk - Property and Inland Marine |  | Excess of Loss |  | 5/1 |  | 3.0 |  |  | 100.0 |  |  | 3.0 |
Specialty Property - Excess and Surplus Property Catastrophe |  | Excess of Loss |  | 5/1 |  | 6.0 |  |  | 34.0 |  |  | 6.0 |
Medical Excess - HMO/Provider Excess |  | Excess of Loss |  | 1/1 |  | 5.0 |  |  | Unlimited |  | 5.0 |
Ocean and Inland Marine |  | Excess of Loss |  | 4/1 |  | 2.5 |  |  | 57.5 |  |  | 7.0 |
Surety |  | Excess of Loss |  | 10/1 |  | 5.0 |  |  | 45.0 |  |  | 5.0 |
Film Completion Bonds |  | Excess of Loss |  | 6/1 |  | 2.0 |  |  | 38.0 |  |  | 2.0 |
Casualty Clash/Workers Compensation Catastrophe |  | Excess of Loss |  | 6/1 |  | 6.0 |  |  | 34.0 |  |  | 6.0 |
Workers Compensation Catastrophe |  | Excess of Loss |  | 6/1 |  | 40.0 |  |  | 20.0 |  |  | 6.0 |
Financial Institutions - Professional Liability |  | Quota Share |  | 6/1 |  | N/A |  |  | 10.0 |  |  | 5.0 |
Combined Healthcare/Casualty 2nd Layer - Various lines |  | Excess of Loss |  | 6/1 |  | 10.0 / 11.0 |  |  | 10.0 |  |  | 3.0 |
Casualty Per Policy - Various lines |  | Excess of Loss |  | 6/1 |  | 3.0 |  |  | 8.0 |  |  | 3.0 |
Workers Compensation Per Occurrence |  | Excess of Loss |  | 6/1 |  | 2.0 |  |  | 8.0 |  |  | 2.0 |
Healthcare Professional Liability |  | Excess of Loss |  | 6/1 |  | 3.0 |  |  | 7.0 |  |  | 3.0 |
Schedule of direct assumed and ceded amounts | The effects of reinsurance on White Mountains’s insurance subsidiaries’ written and earned premiums and on losses and LAE were as follows (see Note 10 — “Municipal Bond Guarantee Insurance” for balances related to White Mountains financial guarantee business):
|  | Year ended December 31, 2016
Millions |  | OneBeacon |  | HG/BAM (1) |  | Other |  | Total
Written premiums: |  |  |  |  |  |  |  |
Direct |  | $ | 1,193.3 |  |  | $ | 38.6 |  |  | $ | 13.3 |  |  | $ | 1,245.2 |
Assumed |  | 28.0 |  |  | — |  |  | — |  |  | 28.0 |
Gross written premiums |  | 1,221.3 |  |  | 38.6 |  |  | 13.3 |  |  | 1,273.2 |
Ceded |  | (120.6 | ) |  | — |  |  | (6.8 | ) |  | (127.4 | )
Net written premiums |  | $ | 1,100.7 |  |  | $ | 38.6 |  |  | $ | 6.5 |  |  | $ | 1,145.8 |
Earned premiums: |  |  |  |  |  |  |  |
Direct |  | $ | 1,177.0 |  |  | $ | 5.9 |  |  | $ | 15.2 |  |  | $ | 1,198.1 |
Assumed |  | 29.4 |  |  | — |  |  | — |  |  | 29.4 |
Gross earned premiums |  | 1,206.4 |  |  | 5.9 |  |  | 15.2 |  |  | 1,227.5 |
Ceded |  | (105.8 | ) |  | — |  |  | (7.7 | ) |  | (113.5 | )
Net earned premiums |  | $ | 1,100.6 |  |  | 5.9 |  |  | $ | 7.5 |  |  | $ | 1,114.0 |
Losses and LAE: |  |  |  |  |  |  |  |
Direct |  | $ | 679.5 |  |  | $ | — |  |  | $ | 14.3 |  |  | $ | 693.8 |
Assumed |  | 21.2 |  |  | — |  |  | — |  |  | 21.2 |
Gross losses and LAE |  | 700.7 |  |  | — |  |  | 14.3 |  |  | 715.0 |
Ceded |  | (44.7 | ) |  | — |  |  | (6.3 | ) |  | (51.0 | )
Net losses and LAE |  | $ | 656.0 |  |  | $ | — |  |  | $ | 8.0 |  |  | $ | 664.0 |
(1) During 2016, BAM ceded $27.2 in written premiums and $21.0 in earned premiums to HG Global, which have been eliminated within the HG/BAM segment.
|  | Year ended December 31, 2015
Millions |  | OneBeacon |  | HG/BAM (1) |  | Other |  | Total
Written premiums: |  |  |  |  |  |  |  |
Direct |  | $ | 1,279.9 |  |  | $ | 25.9 |  |  | $ | 19.9 |  |  | $ | 1,325.7 |
Assumed |  | 36.0 |  |  | — |  |  | — |  |  | 36.0 |
Gross written premiums |  | 1,315.9 |  |  | 25.9 |  |  | 19.9 |  |  | 1,361.7 |
Ceded |  | (179.3 | ) | (2) | — |  |  | (9.8 | ) |  | (189.1 | )
Net written premiums |  | $ | 1,136.6 |  |  | $ | 25.9 |  |  | $ | 10.1 |  |  | $ | 1,172.6 |
Earned premiums: |  |  |  |  |  |  |  |  |  |
Direct |  | $ | 1,298.0 |  |  | $ | 3.3 |  |  | $ | 20.7 |  |  | $ | 1,322.0 |
Assumed |  | 45.9 |  |  | — |  |  | — |  |  | 45.9 |
Gross earned premiums |  | 1,343.9 |  |  | 3.3 |  |  | 20.7 |  |  | 1,367.9 |
Ceded |  | (167.7 | ) | (2) | — |  |  | (12.0 | ) |  | (179.7 | )
Net earned premiums |  | $ | 1,176.2 |  |  | 3.3 |  |  | $ | 8.7 |  |  | $ | 1,188.2 |
Losses and LAE: |  |  |  |  |  |  |  |  |  |
Direct |  | $ | 783.0 |  |  | $ | — |  |  | $ | 19.5 |  |  | $ | 802.5 |
Assumed |  | 55.7 |  |  | — |  |  | — |  |  | 55.7 |
Gross losses and LAE |  | 838.7 |  |  | — |  |  | 19.5 |  |  | 858.2 |
Ceded |  | (138.0 | ) | (2) | — |  |  | (11.3 | ) |  | (149.3 | )
Net losses and LAE |  | $ | 700.7 |  |  | $ | — |  |  | $ | 8.2 |  |  | $ | 708.9 |
(1) During 2015, BAM ceded $19.3 in written premiums and $16.0 in earned premiums to HG Global, which have been eliminated within the HG/BAM segment. (2) During 2015, OneBeacon recorded ceded $33.3 in written premiums, $33.3 in earned premiums and $33.4 in loss and LAE as a result of the exit of the Crop Business due to the 100% quota share reinsurance agreement with AmTrust.
|  | Year ended December 31, 2014
Millions |  | OneBeacon |  | HG/BAM (1) |  | Other(2) |  | Total
Written premiums: |  |  |  |  |  |  |  |
Direct |  | $ | 1,257.5 |  |  | $ | 16.2 |  |  | $ | 22.6 |  |  | $ | 1,296.3 |
Assumed |  | 65.9 |  |  | — |  |  | — |  |  | 65.9 |
Gross written premiums |  | 1,323.4 |  |  | 16.2 |  |  | 22.6 |  |  | 1,362.2 |
Ceded |  | (106.5 | ) |  | — |  |  | (16.7 | ) |  | (123.2 | )
Net written premiums |  | $ | 1,216.9 |  |  | $ | 16.2 |  |  | $ | 5.9 |  |  | $ | 1,239.0 |
Earned premiums: |  |  |  |  |  |  |  |
Direct |  | $ | 1,209.1 |  |  | $ | 1.8 |  |  | $ | 22.6 |  |  | $ | 1,233.5 |
Assumed |  | 70.9 |  |  | — |  |  | — |  |  | 70.9 |
Gross earned premiums |  | 1,280.0 |  |  | 1.8 |  |  | 22.6 |  |  | 1,304.4 |
Ceded |  | (102.9 | ) |  | — |  |  | (16.5 | ) |  | (119.4 | )
Net earned premiums |  | $ | 1,177.1 |  |  | $ | 1.8 |  |  | $ | 6.1 |  |  | $ | 1,185.0 |
Losses and LAE: |  |  |  |  |  |  |  |
Direct |  | $ | 778.7 |  |  | $ | — |  |  | $ | 24.1 |  |  | $ | 802.8 |
Assumed |  | 115.7 |  |  | — |  |  | — |  |  | 115.7 |
Gross losses and LAE |  | 894.4 |  |  | — |  |  | 24.1 |  |  | 918.5 |
Ceded |  | (79.3 | ) |  | — |  |  | (15.2 | ) |  | (94.5 | )
Net losses and LAE |  | $ | 815.1 |  |  | $ | — |  |  | $ | 8.9 |  |  | $ | 824.0 |
(1) During 2014, BAM ceded $12.3 in written premiums and $1.4 in earned premiums to HG Global, which have been eliminated within the HG/BAM segment. (2) During 2014, SSIE ceded $16.0 in written premiums, $15.7 in earned premiums, and $16.9 in loss and LAE to OneBeacon, which have been eliminated in consolidation.
Ceded Credit Risk | The following table summarizes A.M. Best Company, Inc. (“A.M. Best”) ratings for OneBeacon’s reinsurers.
A.M. Best’s Rating (1) |  |  |  |
$ in millions |  | Balance at December 31, 2016 |  | % of Total
A+ or better |  | $ | 73.9 |  |  | 41 | %
A- to A |  | 79.7 |  |  | 44 | %
B, Not rated and other (2) |  | 25.9 |  |  | 15 | %
Total |  | $ | 179.5 |  |  | 100 | %
(1) A.M. Best’s ratings as detailed above are “A+ or better” (Superior), “A- to A” (Excellent) and “B” (Fair). (2) Includes

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