Reinsurance (Tables)

6 Months Ended

Jun. 30, 2015

Schedule of Ceded Premiums Earned by Type

The table below summarizes the amounts of our ceded premiums written under the various types of agreements, as well as the amortization of prepaid reinsurance premiums:



	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
Excess-of-loss	$	(162,993	)	$	(131,213	)	$	(165,119	)	$	(131,274	)
Equipment & identity theft	(1,604		)	(1,156		)	(2,798		)	(1,917		)
Flood	(4,109		)	(4,423		)	(6,956		)	(7,452		)
Ceded premiums written	$	(168,706	)	$	(136,792	)	$	(174,873	)	$	(140,643	)
Decrease in ceded unearned premiums	128,176			103,753			97,209			76,627
Ceded premiums earned	$	(40,530	)	$	(33,039	)	$	(77,664	)	$	(64,016	)

Schedule of Catastrophe Losses by Event Magnitude

Current year catastrophe losses by the event magnitude are shown in the following table for the three and six months ended June 30, 2015 and 2014.



	2015					2014
	Number of Events	Incurred Loss and LAE ⁽¹⁾		Combined Ratio Impact		Number of Events	Incurred Loss and LAE ⁽¹⁾		Combined Ratio Impact
Three Months Ended June 30,
Current period catastrophe losses incurred
$ 1 million to $5 million ⁽²⁾	7	$	4,696	5.8	%	—	$	—	—	%
Less than $1 million ⁽³⁾	5	1,821		2.3	%	1	260		0.4	%
Total	12	$	6,517	8.1	%	1	$	260	0.4	%

Six Months Ended June 30,
Current period catastrophe losses incurred
$ 1 million to $5 million ⁽²⁾	7	$	19,956	12.6	%	—	$	—	—	%
Less than $1 million ⁽³⁾	5	1,821		1.1	%	1	260		0.2	%
Total	12	$	21,777	13.7	%	1	$	260	0.2	%


⁽¹⁾	Incurred loss and LAE is equal to losses and LAE paid plus the change in case and incurred but not reported reserves.


⁽²⁾	Reflects losses from winter storms and hail storms in 2015.


⁽³⁾	Reflects losses from hail storms, Texas flooding and Tropical Storm Bill in 2015 and losses from the Richland hail storm in June 2014.