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Reinsurance
 6 Months Ended
Jun. 30, 2017
Reinsurance Disclosures [Abstract]  
Reinsurance
Reinsurance

The following tables summarize the effect of reinsurance and retrocessional reinsurance on premiums written and earned.
 
Quarter Ended June 30,
 
2017
 
2016
(dollars in thousands)
Written
 
Earned
 
Written
 
Earned
Direct
$
1,046,833

 
$
914,249

 
$
957,244

 
$
865,943

Assumed
310,331

 
312,538

 
320,405

 
295,868

Ceded
(219,507
)
 
(193,213
)
 
(227,103
)
 
(210,952
)
Net premiums
$
1,137,657

 
$
1,033,574

 
$
1,050,546

 
$
950,859

 
Six Months Ended June 30,
 
2017
 
2016
(dollars in thousands)
Written
 
Earned
 
Written
 
Earned
Direct
$
1,896,317

 
$
1,777,235

 
$
1,836,332

 
$
1,733,387

Assumed
921,598

 
620,107

 
833,980

 
585,931

Ceded
(420,029
)
 
(381,166
)
 
(437,806
)
 
(410,773
)
Net premiums
$
2,397,886

 
$
2,016,176

 
$
2,232,506

 
$
1,908,545



The percentage of ceded earned premiums to gross earned premiums was 16% for the quarter and six months ended June 30, 2017 and 18% for the quarter and six months ended June 30, 2016. The percentage of assumed earned premiums to net earned premiums was 30% and 31% for the quarters ended June 30, 2017 and 2016, respectively, and 31% for the six months ended June 30, 2017 and 2016.

Incurred losses and loss adjustment expenses were net of reinsurance recoverables (ceded incurred losses and loss adjustment expenses) of $109.0 million and $75.5 million for the quarters ended June 30, 2017 and 2016, respectively, and $208.6 million and $206.1 million for the six months ended June 30, 2017 and 2016, respectively.