Reinsurance Receivables

The following table presents the effect of reinsurance on premiums written and earned by Fortegra for the following period:



	Three Months Ended September 30,												Nine Months Ended September 30,
Premiums	2016						2015						2016						2015
	Written			Earned			Written			Earned			Written			Earned			Written			Earned
Direct and assumed	$	181,411		$	174,297		$	190,747		$	155,481		$	540,247		$	517,313		$	502,118		$	433,117
Ceded	(125,399		)	(126,688		)	(137,242		)	(111,597		)	(387,871		)	(378,797		)	(370,415		)	(312,173		)
Net	$	56,012		$	47,609		$	53,505		$	43,884		$	152,376		$	138,516		$	131,703		$	120,944

The following table presents the effect of reinsurance on losses and loss adjustment expenses incurred by Fortegra for the following period:



	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
Direct and assumed	$	76,894		$	46,872		$	208,804		$	126,914
Ceded	(56,980		)	(31,924		)	(153,702		)	(86,590		)
Net losses and loss adjustment expense	$	19,914		$	14,948		$	55,102		$	40,324

The following table presents the components of the reinsurance receivables:



	As of
	September 30, 2016		December 31, 2015
Prepaid reinsurance premiums:
Life ⁽¹⁾	$	63,948	$	61,919
Accident and health ⁽¹⁾	53,880		54,357
Property	186,659		180,236
Total	304,487		296,512

Ceded claim reserves:
Life	2,899		2,664
Accident and health	9,987		8,889
Property	47,476		30,911
Total ceded claim reserves recoverable	60,362		42,464
Other reinsurance settlements recoverable	16,314		13,950
Reinsurance receivables	$	381,163	$	352,926


(1)	Including policyholder account balances ceded.

The following table presents the aggregate amount included in reinsurance receivables that is comprised of the three largest receivable balances from unrelated reinsurers:



	As of
	September 30, 2016
Total of the three largest receivable balances from unrelated reinsurers	$	167,472

At September 30, 2016, the three unrelated reinsurers from whom Fortegra has the largest receivable balances were: London Life International Reinsurance Corporation (A. M. Best Rating: Not rated); MFI Insurance Company, LTD (A. M. Best Rating: Not rated) and Frandicso Property and Casualty Insurance Corporation (A. M. Best Rating: Not rated). The related receivables of London Life International Reinsurance Corporation and MFI Insurance Company, LTD are collateralized by assets held in trust accounts and letters of credit due to their offshore relationships. At September 30, 2016, the Company does not believe there is a risk of loss due to the concentration of credit risk in the reinsurance program given the collateralization.