Note 5 - Reinsurance

The Company recognizes the cost of reinsurance premiums over the contract periods for such premiums in proportion to the insurance protection provided. Amounts recoverable from reinsurers for unpaid claims and claim settlement expenses, including estimated amounts for unsettled claims, claims incurred but not yet reported and policy benefits, are estimated in a manner consistent with the insurance liability associated with the policy. The effects of reinsurance on premiums written and contract deposits; premiums and contract charges earned; and benefits, claims and settlement expenses were as follows:

			Ceded to		Assumed
	Gross		Other		from Other		Net
	Amount		Companies		Companies		Amount

Three months ended June 30, 2015
Premiums written and contract deposits	$	324,597	$	6,184	$	981	$	319,394
Premiums and contract charges earned		187,809		6,332		899		182,376
Benefits, claims and settlement expenses		140,038		7,793		694		132,939

Three months ended June 30, 2014
Premiums written and contract deposits	$	298,163	$	6,712	$	942	$	292,393
Premiums and contract charges earned		185,169		6,893		862		179,138
Benefits, claims and settlement expenses		129,163		2,684		679		127,158

Six months ended June 30, 2015
Premiums written and contract deposits	$	635,644	$	12,308	$	1,793	$	625,129
Premiums and contract charges earned		373,005		12,647		1,757		362,115
Benefits, claims and settlement expenses		255,878		10,363		1,443		246,958

Six months ended June 30, 2014
Premiums written and contract deposits	$	564,600	$	13,343	$	1,411	$	552,668
Premiums and contract charges earned		366,902		13,786		1,425		354,541
Benefits, claims and settlement expenses		244,040		6,129		1,235		239,146