Reinsurance (Tables)

12 Months Ended

Dec. 31, 2022

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


	December 31,
	2022		2021
Reinsurance recoverable on unpaid losses and LAE	$	1,431,000	$	749,600
Reinsurance recoverable on paid losses and LAE	200,408		247,520
Reinsurance recoverable(1)	$	1,631,408	$	997,120

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,
	2022		2021		2020
Premium written:
Direct	$	1,123,537	$	1,329,129	$	1,411,558
Assumed	526		316		45,305
Ceded	(542,954)		(864,725)		(755,871)
Net premium written	$	581,109	$	464,720	$	700,992
Change in unearned premiums:
Direct	$	98,478	$	59,547	$	(66,483)
Assumed	642		19,451		16,600
Ceded	(217,603)		46,043		114,554
Net decrease (increase)	$	(118,483)	$	125,041	$	64,671
Premiums earned:
Direct	$	1,222,015	$	1,388,676	$	1,345,075
Assumed	1,168		19,767		61,905
Ceded	(760,557)		(818,682)		(641,317)
Net premiums earned	$	462,626	$	589,761	$	765,663
Losses and LAE incurred:
Direct	$	2,389,152	$	1,319,606	$	1,186,401
Assumed	6,689		13,969		67,119
Ceded	(1,758,194)		(911,441)		(645,204)
Net losses and LAE incurred	$	637,647	$	422,134	$	608,316

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,
	2022		2021		2020
Unpaid losses and LAE:
Direct	$	1,942,612	$	1,062,567	$	1,042,994
Assumed	4,326		21,883		46,972
Gross unpaid losses and LAE	1,946,938		1,084,450		1,089,966
Ceded	(1,431,000)		(749,600)		(674,746)
Net unpaid losses and LAE	$	515,938	$	334,850	$	415,220
Unearned premiums:
Direct	$	545,587	$	644,065	$	703,612
Assumed	233		875		20,326
Gross unearned premiums	545,820		644,940		723,938
Ceded	(213,028)		(430,631)		(384,588)
Net unearned premiums	$	332,792	$	214,309	$	339,350