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Reinsurance Receivables (Tables) | 3 Months Ended
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Mar. 31, 2021
Reinsurance Disclosures [Abstract] |
Effects of Reinsurance | The following table presents the effect of reinsurance on premiums written and earned by our insurance business for the following periods:
| Direct amount |  | Ceded to other companies |  | Assumed from other companies |  | Net amount |  | Percentage of amount - assumed to net
For the Three Months Ended March 31, 2021 |  |  |  |  |  |  |  |  |
Premiums written: |  |  |  |  |  |  |  |  |
Life insurance | $ | 18,573 |  |  | $ | 11,027 |  |  | $ | 410 |  |  | $ | 7,956 |  |  | 5.2 | %
Accident and health insurance | 32,163 |  |  | 22,667 |  |  | 4,861 |  |  | 14,357 |  |  | 33.9 | %
Property and liability insurance | 270,157 |  |  | 136,353 |  |  | 42,888 |  |  | 176,692 |  |  | 24.3 | %
Total premiums written | $ | 320,893 |  |  | $ | 170,047 |  |  | $ | 48,159 |  |  | $ | 199,005 |  |  | 24.2 | %
Premiums earned: |  |  |  |  |  |  |  |  |
Life insurance | $ | 17,493 |  |  | $ | 9,766 |  |  | $ | 340 |  |  | $ | 8,067 |  |  | 4.2 | %
Accident and health insurance | 30,179 |  |  | 20,476 |  |  | 3,791 |  |  | 13,494 |  |  | 28.1 | %
Property and liability insurance | 241,829 |  |  | 160,395 |  |  | 43,924 |  |  | 125,358 |  |  | 35.0 | %
Total premiums earned | $ | 289,501 |  |  | $ | 190,637 |  |  | $ | 48,055 |  |  | $ | 146,919 |  |  | 32.7 | %
For the Three Months Ended March 31, 2020 |  |  |  |  |  |  |  |  |
Premiums written: |  |  |  |  |  |  |  |  |
Life insurance | $ | 16,574 |  |  | $ | 8,744 |  |  | $ | 362 |  |  | $ | 8,192 |  |  | 4.4 | %
Accident and health insurance | 29,850 |  |  | 19,056 |  |  | 3,521 |  |  | 14,315 |  |  | 24.6 | %
Property and liability insurance | 197,725 |  |  | 116,550 |  |  | 28,800 |  |  | 109,975 |  |  | 26.2 | %
Total premiums written | $ | 244,149 |  |  | $ | 144,350 |  |  | $ | 32,683 |  |  | $ | 132,482 |  |  | 24.7 | %
Premiums earned: |  |  |  |  |  |  |  |  |
Life insurance | $ | 17,608 |  |  | $ | 9,361 |  |  | $ | 381 |  |  | $ | 8,628 |  |  | 4.4 | %
Accident and health insurance | 32,170 |  |  | 21,518 |  |  | 3,542 |  |  | 14,194 |  |  | 25.0 | %
Property and liability insurance | 172,855 |  |  | 100,949 |  |  | 26,593 |  |  | 98,499 |  |  | 27.0 | %
Total premiums earned | $ | 222,633 |  |  | $ | 131,828 |  |  | $ | 30,516 |  |  | $ | 121,321 |  |  | 25.2 | %
The following table presents the components of policy and contract benefits, including the effect of reinsurance on losses and loss adjustment expenses (LAE) incurred:
| Direct amount |  | Ceded to other companies |  | Assumed from other companies |  | Net amount |  | Percentage of amount - assumed to net
For the Three Months Ended March 31, 2021 |  |  |  |  |  |  |  |  |
Losses and LAE Incurred |  |  |  |  |  |  |  |  |
Life insurance | $ | 15,596 |  |  | $ | 9,332 |  |  | $ | 153 |  |  | $ | 6,417 |  |  | 2.4 | %
Accident and health insurance | 4,818 |  |  | 3,814 |  |  | 660 |  |  | 1,664 |  |  | 39.7 | %
Property and liability insurance | 75,917 |  |  | 51,996 |  |  | 18,249 |  |  | 42,170 |  |  | 43.3 | %
Total losses and LAE incurred | 96,331 |  |  | 65,142 |  |  | 19,062 |  |  | 50,251 |  |  | 37.9 | %
| Member benefit claims (1) |  | 16,923 |  |  |
| Total policy and contract benefits |  | $ | 67,174 |  |  |
For the Three Months Ended March 31, 2020 |  |  |  |  |  |  |  |  |
Losses and LAE Incurred |  |  |  |  |  |  |  |  |
Life insurance | $ | 10,091 |  |  | $ | 5,674 |  |  | $ | 121 |  |  | $ | 4,538 |  |  | 2.7 | %
Accident and health insurance | 3,699 |  |  | 3,042 |  |  | 2,213 |  |  | 2,870 |  |  | 77.1 | %
Property and liability insurance | 67,270 |  |  | 41,234 |  |  | 12,532 |  |  | 38,568 |  |  | 32.5 | %
Total losses and LAE incurred | 81,060 |  |  | 49,950 |  |  | 14,866 |  |  | 45,976 |  |  | 32.3 | %
| Member benefit claims (1) |  | 14,900 |  |  |
| Total policy and contract benefits |  | $ | 60,876 |  |  |
(1) Member benefit claims are not covered by reinsurance. The following table presents the components of the reinsurance receivables:
| As of
| March 31, 2021 |  | December 31, 2020
Prepaid reinsurance premiums: |  |  |
Life insurance (1) | $ | 71,082 |  |  | $ | 70,066 |
Accident and health insurance (1) | 68,452 |  |  | 66,261 |
Property and liability insurance | 394,357 |  |  | 423,868 |
Total | 533,891 |  |  | 560,195 |
Ceded claim reserves: |  |  |
Life insurance | 3,977 |  |  | 4,133 |
Accident and health insurance | 11,105 |  |  | 11,118 |
Property and liability insurance | 110,016 |  |  | 98,092 |
Total ceded claim reserves recoverable | 125,098 |  |  | 113,343 |
Other reinsurance settlements recoverable | 54,741 |  |  | 54,471 |
Reinsurance receivables | $ | 713,730 |  |  | $ | 728,009 |
(1) Including policyholder account balances ceded.
Components of Reinsurance Receivable | The following table presents the aggregate amount included in reinsurance receivables that is comprised of the three largest receivable balances from non-affiliated reinsurers:
| As of
| March 31, 2021
Total of the three largest receivable balances from non-affiliated reinsurers | $ | 119,426 |

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- Definition Tabular disclosure of the effects of reinsurance, for example, but not limited to, disclosure of direct, assumed, and ceded insurance. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 605 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6486672&loc=d3e27261-158547 + Details
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