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Reinsurance (Tables) | 6 Months Ended
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Jun. 30, 2012
Reinsurance/Insurance Operations [Abstract] |
Reinsurance arrangements | The Company’s reinsurance arrangements had the following effect on certain items in the Condensed Consolidated Statements of Income (in thousands):
|  | Three Months Ended June 30, 2012 |  |  | Six Months Ended June 30, 2012 |
|  | Premiums Written |  |  | Premiums Earned |  |  | Loss and Loss Adjustment Expenses |  |  | Premiums Written |  |  | Premiums Earned |  |  | Loss and Loss Adjustment Expenses |
Direct |  | $ | 222,568 |  |  | $ | 186,656 |  |  | $ | 56,533 |  |  | $ | 412,571 |  |  | $ | 365,460 |  |  | $ | 109,140 |
Ceded |  |  | (102,433 | ) |  |  | (130,962 | ) |  |  | (27,096 | ) |  |  | (265,867 | ) |  |  | (261,126 | ) |  |  | (53,529 | )
Net |  | $ | 120,135 |  |  | $ | 55,694 |  |  | $ | 29,437 |  |  | $ | 146,704 |  |  | $ | 104,334 |  |  | $ | 55,611 |
|  | Three Months Ended June 30, 2011 |  |  | Six Months Ended June 30, 2011 |
|  | Premiums Written |  |  | Premiums Earned |  |  | Loss and Loss Adjustment Expenses |  |  | Premiums Written |  |  | Premiums Earned |  |  | Loss and Loss Adjustment Expenses |
Direct |  | $ | 213,479 |  |  | $ | 170,134 |  |  | $ | 53,360 |  |  | $ | 386,654 |  |  | $ | 334,721 |  |  | $ | 106,491 |
Ceded |  |  | (145,798 | ) |  |  | (120,610 | ) |  |  | (27,508 | ) |  |  | (269,689 | ) |  |  | (237,193 | ) |  |  | (54,454 | )
Net |  | $ | 67,681 |  |  | $ | 49,524 |  |  | $ | 25,852 |  |  | $ | 116,965 |  |  | $ | 97,528 |  |  | $ | 52,037 |
Prepaid reinsurance premiums and reinsurance recoverables | The following prepaid reinsurance premiums and reinsurance recoverables and receivables are reflected in the Condensed Consolidated Balance Sheets (in thousands):
|  | As of |  |  | As of |
|  | June 30, 2012 |  |  | December 31, 2011 |
Prepaid reinsurance premiums |  | $ | 247,835 |  |  | $ | 243,095 |
Reinsurance recoverable on unpaid losses and LAE |  | $ | 73,169 |  |  | $ | 88,002 |
Reinsurance recoverable on paid losses |  |  | 42,290 |  |  |  | (2,296 | )
Reinsurance receivables, net |  |  | 125,664 |  |  |  | 55,205 |
Reinsurance recoverables and receivables |  | $ | 241,123 |  |  | $ | 140,911 |

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- Definition Tabular disclosure of prepaid Reinsurance premiums and reinsurance recoverables. + References No definition available. + Details
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- Definition Tabular disclosure of reinsurance arrangements. + References No definition available. + Details
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