Insurance Operations (Tables)

3 Months Ended

Mar. 31, 2020

Insurance Operations

Summary of reinsurance ceded and assumed relating to premiums written, earned premiums and losses and loss adjustment expenses

	Three Months Ended March 31
($ in thousands)	2020		2019
Written premiums
Direct written premiums	$	212,951	$	254,985
Assumed from other companies		833		853
Ceded to other companies		23,601		45,936
Net written premiums	$	190,183	$	209,902
Earned premiums
Direct earned premiums	$	228,580	$	223,002
Assumed from other companies		742		942
Ceded to other companies		23,660		28,336
Net earned premiums	$	205,662	$	195,608
Percent of amount assumed to net		0.4%		0.5%
Losses and loss adjustment expenses incurred
Direct net losses and loss adjustment expenses incurred	$	144,377	$	135,348
Assumed from other companies		(1,357)		2,819
Ceded to other companies		15,463		19,834
Net losses and loss adjustment expenses incurred	$	127,557	$	118,333

Premium receivable allowance rollforward

($ in thousands)	Beginning Balance		Current Provision		Write-offs		Recoveries		Ending Balance
Premium receivable	$	5,056	$	1,076	$	(130)	$	54	$	6,056
Reinsurance receivable on paid and unpaid losses		505		52		—		—		557
Total receivable allowance	$	5,561	$	1,128	$	(130)	$	54	$	6,613

Summary of unpaid losses

	March 31
($ in thousands)	2020		2019
Gross reserve for unpaid losses and loss expenses, at beginning of year	$	1,521,648	$	1,396,812
Ceded reserve for unpaid losses and loss expenses, at beginning of year		193,952		185,295
Net reserve for unpaid losses and loss expenses, at beginning of year		1,327,696		1,211,517
Add:
Incurred losses and loss expenses occurring in the:
Current year		121,001		118,728
Prior years		198		(395)
Prior years attributable to adjusted premium		6,358		—
Total net losses and loss adjustment expenses incurred		127,557		118,333
Less:
Paid losses and loss expenses for claims occurring in the:
Current year		3,665		3,528
Prior years		62,655		78,676
Total paid losses and loss expenses for claims		66,320		82,204
Net reserve for unpaid losses and loss expenses, at end of period		1,388,933		1,247,646
Ceded reserve for unpaid losses and loss expenses, at end of period		156,866		201,889
Gross reserve for unpaid losses and loss expenses, at end of period	$	1,545,799	$	1,449,535