Reinsurance (Tables)

12 Months Ended

Dec. 31, 2020

Reinsurance recoverable at the balance sheet dates consists of the following:


	December 31,
	2020		2019
Reinsurance recoverable on unpaid losses and LAE	$	674,746	$	482,315
Reinsurance recoverable on paid losses and LAE	146,410		67,821
Reinsurance recoverable	$	821,156	$	550,136

Reinsurance, Effect on Operations

The following table depicts written premiums, earned premiums and losses, showing the effects that our reinsurance transactions have on these components of our Consolidated Statements of Comprehensive Loss:


	Year ended December 31,
	2020		2019		2018
Premium written:
Direct	$	1,411,558	$	1,278,504	$	1,148,190
Assumed	45,305		101,764		104,211
Ceded	(755,871)		(633,275)		(512,270)
Net premium written	$	700,992	$	746,993	$	740,131
Change in unearned premiums:
Direct	$	(66,483)	$	(59,660)	$	(49,048)
Assumed	16,600		12,918		(22,392)
Ceded	114,554		52,149		20,585
Net decrease (increase)	$	64,671	$	5,407	$	(50,855)
Premiums earned:
Direct	$	1,345,075	$	1,218,844	$	1,099,142
Assumed	61,905		114,682		81,819
Ceded	(641,317)		(581,126)		(491,685)
Net premiums earned	$	765,663	$	752,400	$	689,276
Losses and LAE incurred:
Direct	$	1,186,401	$	1,003,767	$	1,101,328
Assumed	67,119		44,914		97,444
Ceded	(645,204)		(549,188)		(790,183)
Net losses and LAE incurred	$	608,316	$	499,493	$	408,589

Reinsurance Effects On Unpaid Lossses, LAE and Unearned Premiums

The following table highlights the effects that our reinsurance transactions have on unpaid losses and loss adjustment expenses and unearned premiums in our Consolidated Balance Sheets:


	December 31,
	2020		2019		2018
Unpaid losses and LAE:
Direct	$	1,042,994	$	716,559	$	579,710
Assumed	46,972		43,798		81,493
Gross unpaid losses and LAE	1,089,966		760,357		661,203
Ceded	(674,746)		(482,315)		(477,870)
Net unpaid losses and LAE	$	415,220	$	278,042	$	183,333
Unearned premiums:
Direct	$	703,612	$	637,128	$	577,467
Assumed	20,326		36,927		49,846
Gross unearned premiums	723,938		674,055		627,313
Ceded	(384,588)		(270,034)		(217,885)
Net unearned premiums	$	339,350	$	404,021	$	409,428