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Premiums Written and Earned
 3 Months Ended
Mar. 31, 2014
Insurance [Abstract]  
Premiums Written and Earned

9. PREMIUMS WRITTEN AND EARNED

The following table provides a summary of net premiums written and earned in our non-life run-off, active underwriting and life and annuities segments for the three months ended March 31, 2014 and 2013:

 

     Three Months Ended March 31,  
     2014     2013  
     Premiums
Written		     Premiums
Earned		     Premiums
Written		     Premiums
Earned		  

Non-life run-off

         

Direct

    $ 1,279      $ 2,734      $ 11,856      $ 33,581   

Assumed

      40        34        242        555   

Ceded

      (276 )      (241 )      (2,390 )      (3,216 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net

    $ 1,043      $ 2,527      $ 9,708      $ 30,920   
  

 

 

    

 

 

    

 

 

    

 

 

  

Active underwriting

         

Direct

    $ 26,916      $ 24,369      $ —        $ —     

Assumed

      (1,599 )      13,788        —          —     

Ceded

      (5,852 )      (5,518 )      —          —     
  

 

 

    

 

 

    

 

 

    

 

 

  

Net

    $ 19,465      $ 32,639      $ —        $ —     
  

 

 

    

 

 

    

 

 

    

 

 

  

Life and annuities

         

Life

    $ 25,996      $ 26,492      $ 741      $ 741   
  

 

 

    

 

 

    

 

 

    

 

 

  

Non-life run-off

Net premiums written and earned by the Company’s non-life run-off segment totaled $1.0 million and $2.5 million for the three months ended March 31, 2014 as compared to $9.7 million and $30.9 million from the date of acquisition of SeaBright to March 31, 2013. The significant decrease between the three months ended March 31, 2014 and the same period in 2013 was attributable to SeaBright exiting from the mandatory renewal process, which resulted in it no longer generating premiums written other than for small adjustments related to premium audits and reinstatement premiums on previously written policies.

Active underwriting

Net premiums written and earned by the Company’s active underwriting segment totaled $19.5 million and $32.6 million for the three months ended March 31, 2014. The net premiums written and earned relate to Atrium and Arden’s reinsurance of Atrium. The Company did not have an active underwriting segment for the three months ended March 31, 2013.

Life and annuities

Life and annuity premiums written by the Company’s life and annuities segment totaled $26.0 million and $26.5 million for the three months ended March 31, 2014 as compared to $0.7 million and $0.7 million for the three months ended March 31, 2013, respectively. The Company’s life companies continue to collect premiums in relation to the unexpired policies assumed on acquisition.