Reinsurance (Tables)

12 Months Ended

Dec. 31, 2014

Reinsurance

Schedule of reinsurance recoverables

	2014		2013
Ceded future policyholder benefits and expenses	$	1,797,057	$	1,560,436
Ceded unearned premium	25,389		17,792
Ceded claims and benefits payable	319,790		247,777
Ceded paid losses	11,972		11,375
Total	$	2,154,208	$	1,837,380

Schedule of reinsurance recoverable grouped by A.M. Best rating

The following table provides the reinsurance recoverable as of December 31, 2014 grouped by A.M. Best rating:

A. M. Best ratings of reinsurer	Ceded future policyholder benefits and expense		Ceded unearned premiums		Ceded claims and benefits payable		Ceded paid losses		Total
A++ or A+	$	1,158,636	$	25,217	$	295,587	$	239	$	1,479,679
A or A-	601,782		37		16,696		26		618,541
B++ or B+	36,315		135		244		0		36,694
Not rated	324		0		7,263		11,707		19,294
Reinsurance recoverable	$	1,797,057	$	25,389	$	319,790	$	11,972	$	2,154,208

Schedule of effect of reinsurance on premiums earned and benefits incurred

	Years Ended December 31,
	2014									2013									2012
	Long Duration			Short Duration			Total			Long Duration			Short Duration			Total			Long Duration			Short Duration			Total
Direct earned premiums	$	202,992		$	839,786		$	1,042,778		$	207,159		$	823,576		$	1,030,735		$	212,727		$	827,048		$	1,039,775
Premiums assumed	8,400			149,549			157,949			9,709			140,971			150,680			11,983			146,130			158,113
Premiums ceded	(151,491		)	(13,769		)	(165,260		)	(164,698		)	(15,086		)	(179,784		)	(175,042		)	(14,860		)	(189,902		)
Net earned premiums	$	59,901		$	975,566		$	1,035,467		$	52,170		$	949,461		$	1,001,631		$	49,668		$	958,318		$	1,007,986
Direct policyholder benefits	$	661,461		$	542,796		$	1,204,257		$	369,169		$	548,631		$	917,800		$	344,022		$	535,016		$	879,038
Policyholder benefits assumed	21,922			145,597			167,519			23,556			138,485			162,041			24,519			133,285			157,804
Policyholder benefits ceded	(616,370		)	(9,305		)	(625,675		)	(325,982		)	(8,612		)	(334,594		)	(297,768		)	(7,212		)	(304,980		)
Net policyholder benefits	$	67,013		$	679,088		$	746,101		$	66,743		$	678,504		$	745,247		$	70,773		$	661,089		$	731,862