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Reinsurance
 6 Months Ended
Jun. 30, 2012
Reinsurance Disclosures [Abstract]  
Reinsurance
Reinsurance
The following is a summary of reinsurance financial information:
  
 
For the Three Months Ended
 
For the Six Months Ended
 
 
June 30,
 
June 30,
(Dollars in thousands)
 
2012
 
2011
 
2012
 
2011
Written premiums:
 
 
 
 
 
 
 
 
Direct
 
$
1,249,576

 
$
1,094,879

 
$
2,450,595

 
$
2,171,726

Assumed
 
181,344

 
150,397

 
381,851

 
343,408

Ceded
 
(239,929
)
 
(187,861
)
 
(437,929
)
 
(374,416
)
Total net premiums written
 
$
1,190,991

 
$
1,057,415

 
$
2,394,517

 
$
2,140,718

 
 
 
 
 
 
 
 
 
Earned premiums:
 
 
 
 
 
 
 
 
Direct
 
$
1,163,162

 
$
1,020,606

 
$
2,267,118

 
$
1,993,131

Assumed
 
186,762

 
161,942

 
366,280

 
323,812

Ceded
 
(202,567
)
 
(165,304
)
 
(386,390
)
 
(317,202
)
Total net premiums earned
 
$
1,147,357

 
$
1,017,244

 
$
2,247,008

 
$
1,999,741

 
 
 
 
 
 
 
 
 
Ceded losses incurred
 
$
109,142

 
$
80,287

 
$
194,419

 
$
195,112


The Company reinsures a portion of its exposures principally to reduce its net liability on individual risks and to protect against catastrophic losses. Estimated amounts due from reinsurers are reported net of reserves for uncollectible reinsurance of $2 million as of June 30, 2012 and December 31, 2011.