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Reinsurance | 9 Months Ended
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Sep. 30, 2020
Insurance [Abstract] |
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:
($ in thousands) |  | Gross Amount |  | Ceded to Other Companies (1) |  | Assumed from Other Companies |  | Net Amount
Three months ended September 30, 2020 |  |  |  |  |  |  |  |
Premiums written and contract deposits (2) |  | $ | 368,577 |  |  | $ | 2,146 |  |  | $ | 2,422 |  |  | $ | 368,853 |
Premiums and contract charges earned |  | 237,193 |  |  | 4,261 |  |  | 2,421 |  |  | 235,353 |
Benefits, claims and settlement expenses |  | 59,401 |  |  | (90,161) |  |  | 1,863 |  |  | 151,425 |
Three months ended September 30, 2019 |  |  |  |  |  |  |  |
Premiums written and contract deposits (2) |  | $ | 374,598 |  |  | $ | 5,968 |  |  | $ | 2,586 |  |  | $ | 371,216 |
Premiums and contract charges earned |  | 245,200 |  |  | 8,181 |  |  | 2,662 |  |  | 239,681 |
Benefits, claims and settlement expenses |  | 154,718 |  |  | 2,310 |  |  | 1,783 |  |  | 154,191 |
Nine months ended September 30, 2020 |  |  |  |  |  |  |  |
Premiums written and contract deposits (2) |  | $ | 1,034,687 |  |  | $ | 14,835 |  |  | $ | 6,928 |  |  | $ | 1,026,780 |
Premiums and contract charges earned |  | 710,998 |  |  | 20,945 |  |  | 6,996 |  |  | 697,049 |
Benefits, claims and settlement expenses |  | 342,218 |  |  | (85,770) |  |  | 5,107 |  |  | 433,095 |
Nine months ended September 30, 2019 |  |  |  |  |  |  |  |
Premiums written and contract deposits (2) |  | $ | 988,588 |  |  | $ | 17,844 |  |  | $ | 7,557 |  |  | $ | 978,301 |
Premiums and contract charges earned |  | 671,871 |  |  | 22,158 |  |  | 7,849 |  |  | 657,562 |
Benefits, claims and settlement expenses |  | 450,206 |  |  | 9,399 |  |  | 5,460 |  |  | 446,267 |
(1) Excludes the annuity reinsurance transaction accounted for using the deposit method that is discussed in Note 5. (2) This measure is not based on accounting principles generally accepted in the United States of America (non-GAAP). An explanation of this non-GAAP measure is contained in the Glossary of Selected Terms included as an exhibit in the Company's reports filed with the SEC.

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- References No definition available. + Details
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- Definition The entire disclosure pertaining to the existence, magnitude and information about insurance that has been ceded to or assumed from another insurance company, including the methodologies and assumptions used in determining recorded amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -URI http://asc.fasb.org/topic&trid=2303980 + Details
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