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Reinsurance (Tables) | 12 Months Ended
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Dec. 31, 2022
Insurance [Abstract] |
Components of Reinsurance Balances | The Company had the following reinsurance balances as of December 31, 2022 and 2021:
(Dollars in thousands) |  | December 31, 2022 |  |  | December 31, 2021 |
Reinsurance receivables, net |  | $ | 85,721 |  |  | $ | 99,864 |
Collateral securing reinsurance receivables |  |  | (8,937 | ) |  |  | (9,855 | )
Reinsurance receivables, net of collateral |  | $ | 76,784 |  |  | $ | 90,009 |
Allowance for expected credit losses |  | $ | 8,992 |  |  | $ | 8,992 |
Prepaid reinsurance premiums |  |  | 17,421 |  |  |  | 53,494 |
Unsecured Reinsurance Receivable that Exceeded Three Percent of Shareholders' Equity | Unsecured reinsurance receivables include amounts receivable for paid and unpaid losses and loss adjustment expenses, less amounts secured by collateral.
(Dollars in thousands) |  | Reinsurance Receivables |  |  | AM Best Ratings (As of December 31, 2022)
Munich Re America Corporation |  | $ | 45,246 |  |  | A+
Effect of Reinsurance on Premiums Written and Earned | The effect of reinsurance on premiums written and earned is as follows:
(Dollars in thousands) |  | Written |  |  | Earned |
For the year ended December 31, 2022: |  |  |  |  |  |
Direct business |  | $ | 573,412 |  |  | $ | 589,131 |
Reinsurance assumed |  |  | 154,191 |  |  |  | 135,896 |
Reinsurance ceded |  |  | (136,272 | ) |  |  | (122,556 | )
Net premiums |  | $ | 591,331 |  |  | $ | 602,471 |
For the year ended December 31, 2021: |  |  |  |  |  |
Direct business |  | $ | 584,467 |  |  | $ | 578,171 |
Reinsurance assumed |  |  | 97,655 |  |  |  | 78,880 |
Reinsurance ceded |  |  | (102,054 | ) |  |  | (61,441 | )
Net premiums |  | $ | 580,068 |  |  | $ | 595,610 |
For the year ended December 31, 2020: |  |  |  |  |  |
Direct business |  | $ | 554,617 |  |  | $ | 560,658 |
Reinsurance assumed |  |  | 51,986 |  |  |  | 69,312 |
Reinsurance ceded |  |  | (58,436 | ) |  |  | (62,271 | )
Net premiums |  | $ | 548,167 |  |  | $ | 567,699 |

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- Definition Schedule of Premiums Written, Ceded and Earned + References No definition available. + Details
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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 https://asc.fasb.org/extlink&oid=123600520&loc=SL75241803-196195 + Details
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