Reinsurance Agreements (Tables)

12 Months Ended

Dec. 31, 2019

Reinsurance Agreements

Primary reinsurance agreements

Crusader’s primary excess of loss reinsurance agreements during the years ended December 31, 2019 and 2018 are as follows:

Loss Year		Reinsurers	A.M. Best Rating	Retention
	2019	Renaissance Reinsurance U.S. Inc. & Hannover Ruck SE	A+ A+	$	500,000
	2018	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
	2019			2018
Written premium:
Direct business	$	35,803,950		$	32,429,735
Reinsurance ceded		(7,153,130	)		(6,555,715	)
Net written premium	$	28,650,820		$	25,874,020
Earned premium:
Direct business	$	33,958,202		$	35,233,410
Reinsurance ceded		(7,220,734	)		(6,478,500	)
Net earned premium	$	26,737,468		$	28,754,910
Incurred losses and loss adjustment expenses:
Direct	$	36,712,252		$	30,169,562
Ceded		(14,136,125	)		(6,611,819	)
Net incurred losses and loss adjustment expenses	$	22,576,127		$	23,557,743