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Reinsurance (Tables) | 6 Months Ended
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Jun. 30, 2018
Insurance [Abstract] |
Current Ratings from Rating Agencies and Unsecured Net Amounts Due from Insurance Entities' Reinsurers Whose Aggregate Balance Exceeded 3% of Stockholders' Equity | The following table presents ratings from rating agencies and the unsecured amounts due from the Company’s reinsurers whose aggregate balance exceeded 3% of the Company’s stockholders’ equity as of the dates presented (in thousands):
|  | Ratings as of June 30, 2018 |  | Due from as of |
|  |  |  | Standard |  |  |  |  |  |  |  |  |  |
|  |  |  | and Poor's |  | Moody's |  |  |  |  |  |  |  |
|  | AM Best |  | Rating |  | Investors |  | June 30, |  |  | December 31, |
Reinsurer |  | Company |  | Services |  | Service, Inc. |  | 2018 |  |  | 2017 |
Lloyd's of London Syndicate |  | A |  | A+ |  | n/a |  | $ | 33,966 |  |  | $ | — |
Allianz Risk Transfer |  | A+ |  | AA- |  | n/a |  |  | 18,406 |  |  |  | 105,573 |
Florida Hurricane Catastrophe Fund (1) |  | n/a |  | n/a |  | n/a |  |  | — |  |  |  | 52,054 |
Renaissance Reinsurance Ltd |  | n/a |  | n/a |  | n/a |  |  | — |  |  |  | 22,545 |
Total (2) |  |  |  |  |  |  |  | $ | 52,372 |  |  | $ | 180,172 |
(1) | No rating is available, because the fund is not rated.
(2) | Amounts represent prepaid reinsurance premiums, reinsurance receivables, net recoverables for paid and unpaid losses, including incurred but not reported reserves, loss adjustment expenses, and offsetting reinsurance payables.
Summary of Effects of Insurance Entities' Reinsurance Arrangements | The Company’s reinsurance arrangements had the following effect on certain items in the Condensed Consolidated Statements of Income for the periods presented (in thousands):
| Three Months Ended June 30, |
| 2018 |  |  | 2017 |
|  |  |  |  |  |  |  |  | Losses and Loss |  |  |  |  |  |  |  |  |  |  | Losses and Loss |
| Premiums |  |  | Premiums |  |  | Adjustment |  |  | Premiums |  |  | Premiums |  |  | Adjustment |
| Written |  |  | Earned |  |  | Expenses |  |  | Written |  |  | Earned |  |  | Expenses |
Direct | $ | 342,781 |  |  | $ | 274,027 |  |  | $ | 246,622 |  |  | $ | 296,191 |  |  | $ | 244,623 |  |  | $ | 85,656 |
Ceded |  | (339,251 | ) |  |  | (81,755 | ) |  |  | (156,780 | ) |  |  | (311,338 | ) |  |  | (75,614 | ) |  |  | (5,472 | )
Net | $ | 3,530 |  |  | $ | 192,272 |  |  | $ | 89,842 |  |  | $ | (15,147 | ) |  | $ | 169,009 |  |  | $ | 80,184 |
| Six Months Ended June 30, |
| 2018 |  |  | 2017 |
|  |  |  |  |  |  |  |  | Losses and Loss |  |  |  |  |  |  |  |  |  |  | Losses and Loss |
| Premiums |  |  | Premiums |  |  | Adjustment |  |  | Premiums |  |  | Premiums |  |  | Adjustment |
| Written |  |  | Earned |  |  | Expenses |  |  | Written |  |  | Earned |  |  | Expenses |
Direct | $ | 612,765 |  |  | $ | 536,288 |  |  | $ | 323,261 |  |  | $ | 541,606 |  |  | $ | 480,998 |  |  | $ | 156,439 |
Ceded |  | (339,251 | ) |  |  | (161,439 | ) |  |  | (157,493 | ) |  |  | (311,524 | ) |  |  | (150,430 | ) |  |  | (5,685 | )
Net | $ | 273,514 |  |  | $ | 374,849 |  |  | $ | 165,768 |  |  | $ | 230,082 |  |  | $ | 330,568 |  |  | $ | 150,754 |
Prepaid Reinsurance Premiums and Reinsurance Recoverable and Receivable | The following prepaid reinsurance premiums and reinsurance recoverable and receivable are reflected in the Condensed Consolidated Balance Sheets as of the dates presented (in thousands):
| June 30, |  |  | December 31, |
| 2018 |  |  | 2017 |
Prepaid reinsurance premiums | $ | 310,618 |  |  | $ | 132,806 |
Reinsurance recoverable on paid losses and LAE | $ | 21,002 |  |  | $ | — |
Reinsurance recoverable on unpaid losses and LAE |  | 96,849 |  |  |  | 182,405 |
Reinsurance receivable, net |  | 1,402 |  |  |  | — |
Reinsurance recoverable and receivable | $ | 119,253 |  |  | $ | 182,405 |

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- Definition Tabular disclosure of reinsurer or group of reinsurers for whom the entity has a concentration of credit risk. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 825 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=99380617&loc=SL75241803-196195 + Details
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- Definition Tabular disclosure of prepaid reinsurance premiums and reinsurance recoverable (payable) and receivable. + References No definition available. + Details
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