| Results of Operations Related to Reinsurance Agreements |
The following is the effect on the Company’s results of operations for the three and nine months ended September 30, 2012 and 2011 related to Maiden Reinsurance agreements: | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | (Amounts in Thousands) | 2012 | | 2011 | | 2012 | | 2011 | Results of operations: | | | | | | | | Premium written – ceded | $ | (189,655 | ) | | $ | (173,218 | ) | | $ | (576,936 | ) | | $ | (513,859 | ) | Change in unearned premium – ceded | 10,541 |
| | 13,008 |
| | 61,502 |
| | 103,022 |
| Earned premium - ceded | $ | (179,114 | ) | | $ | (160,210 | ) | | $ | (515,434 | ) | | $ | (410,837 | ) | Ceding commission on premium written | $ | 51,955 |
| | $ | 48,339 |
| | $ | 157,224 |
| | $ | 132,224 |
| Ceding commission – deferred | (2,095 | ) | | (6,557 | ) | | (16,540 | ) | | (20,269 | ) | Ceding commission – earned | $ | 49,860 |
| | $ | 41,782 |
| | $ | 140,684 |
| | $ | 111,955 |
| Incurred loss and loss adjustment expense – ceded | $ | 158,646 |
| | $ | 94,371 |
| | $ | 407,426 |
| | $ | 275,434 |
|
|