Reinsurance Receivables

3 Months Ended

Mar. 31, 2021

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.

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

As of March 31, 2021, the non-affiliated reinsurers from whom our insurance business has the largest receivable balances were: MFI Insurance Company, LTD (A. M. Best Rating: Not rated), Frandisco Property and Casualty Company (A. M. Best Rating: Not rated) and Canada Life International Reinsurance (Barbados) Corporation (A. M. Best Rating: Not rated).The related receivables of these reinsurers are collateralized by assets on hand, assets held in trust accounts and letters of credit. As of March 31, 2021, 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.