Reinsurance (Tables)

6 Months Ended

Jun. 30, 2023

Summary of Assumed and Ceded Reinsurance on Premiums Written, Premiums Earned and Insurance Losses and Loss Adjustment Expenses

The effect of assumed and ceded reinsurance on premiums written, premiums earned and insurance losses and loss adjustment expenses for the twelve months ended December 31, 2022, 2021 and 2020 was as follows:


	Twelve Months Ended December 31,
	2022		2021		2020
	($ in millions)
Premiums written:
Direct	$	2,531.7	$	2,341.4	$	2,042.1
Assumed	1,807.0		1,597.0		1,656.4
Ceded	(1,442.7)		(1,350.7)		(1,120.7)
Net premiums written	$	2,896.0	$	2,587.7	$	2,577.8

Premiums earned:
Direct	$	2,370.8	$	2,139.1	$	2,026.4
Assumed	1,617.2		1,479.2		1,612.0
Ceded	(1,299.3)		(1,207.8)		(1,110.9)
Net premiums earned	$	2,688.7	$	2,410.5	$	2,527.5

Insurance losses and loss adjustment expenses:
Direct	$	1,574.2	$	1,499.8	$	1,479.6
Assumed	939.5		1,000.6		1,134.5
Ceded	(833.7)		(807.1)		(773.3)
Net insurance losses and loss adjustment expenses	$	1,680.0	$	1,693.3	$	1,840.8

The effect of ceded reinsurance on premiums written, premiums earned and insurance losses and loss adjustment expenses for the six months ended June 30, 2023 and 2022 was as follows:


	Six Months Ended June 30,
	2023		2022
	($ in millions)
Premiums written:
Insurance	$	1,249.5	$	1,305.7
Reinsurance	875.7		1,045.6
Ceded	(774.7)		(845.2)
Net premiums written	$	1,350.5	$	1,506.1

Premiums earned:
Insurance	$	1,203.6	$	1,171.5
Reinsurance	755.7		776.9
Ceded	(671.9)		(621.2)
Net premiums earned	$	1,287.4	$	1,327.2

Insurance losses and loss adjustment expenses:
Insurance	$	691.7	$	719.2
Reinsurance	353.4		402.4
Ceded	(328.0)		(353.9)
Net insurance losses and loss adjustment expenses	$	717.1	$	767.7