Reinsurance Agreements (Tables)

12 Months Ended

Dec. 31, 2018

Reinsurance Agreements

Primary reinsurance agreements

Crusader’s primary excess of loss reinsurance agreements during the years ended December 31, 2018 and 2017 are as follows:

Loss Year		Reinsurers	A.M. Best Rating	Retention
	2018	Renaissance Reinsurance U.S. Inc. & Hannover Ruck SE	A+ A+	$	500,000
	2017	Renaissance Reinsurance U.S. Inc. & Hannover Ruck SE	A A+	$	500,000

Effect of reinsurance on premiums written, premiums earned, and incurred losses

The effect of reinsurance on written premium, earned premium, and incurred losses and loss adjustment expenses is as follows:

	Year ended December 31
	2018			2017
Written premium:
Direct business	$	32,429,735		$	38,393,351
Reinsurance ceded		(6,555,715	)		(6,765,240	)
Net written premium	$	25,874,020		$	31,628,111
Earned premium:
Direct business	$	35,233,410		$	38,999,827
Reinsurance ceded		(6,478,500	)		(6,656,508	)
Net earned premium	$	28,754,910		$	32,343,319
Incurred losses and loss adjustment expenses:
Direct	$	30,169,562		$	43,672,969
Ceded		(6,611,819	)		(13,182,462	)
Net incurred losses and loss adjustment expenses	$	23,557,743		$	30,490,507