Note 4.

Reinsurance

In accordance with general practice in the insurance industry, portions of the life, property and casualty insurance written by the Company are reinsured; however, the Company remains liable with respect to reinsurance ceded should any reinsurer be unable or unwilling to meet its obligations. Approximately 99% of the Company’s reinsurance recoverables were due from two reinsurers as of December 31, 2017. Reinsurance recoverables of $60 were due from Swiss Reinsurance Corporation, rated “AA-” by Standard & Poor’s and “A+” (Superior) by A.M. Best and $17,449 were due from General Re Life Corporation, rated “AA+” by Standard & Poor’s and “A++” (Superior) by A.M. Best. Allowances for uncollectible amounts are established against reinsurance recoverables, if appropriate.

The effects of reinsurance on premiums written, premiums earned and insurance benefits and losses incurred were as follows:

	2017			2016
Direct premiums written	$	181,568		$	142,200
Assumed premiums written		19,373			19,123
Ceded premiums written		(38,019	)		(10,225	)
Net premiums written	$	162,922		$	151,098

Direct premiums earned	$	181,458		$	144,339
Assumed premiums earned		19,241			19,124
Ceded premiums earned		(37,372	)		(9,998	)
Net premiums earned	$	163,327		$	153,465

Provision for benefits and losses incurred	$	147,444		$	109,616
Reinsurance loss recoveries		(29,929	)		(6,419	)
Insurance benefits and losses incurred	$	117,515		$	103,197

Components of reinsurance recoverables at December 31, 2017 and 2016 were as follows:

	2017		2016
Recoverable on unpaid losses	$	11,968	$	10,796
Recoverable on unpaid benefits		4,403		655
Ceded unearned premiums		874		227
Ceded advanced premiums		368		25
Total reinsurance recoverables	$	17,613	$	11,703