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Reinsurance (Tables)
 12 Months Ended
Dec. 31, 2013
Reinsurance [Abstract]  
Combined quota share reinsurance
A summary of the combined quota share reinsurance agreement for 2013 appears below.
 
 
 
2013
 
 
 
(In thousands)
 
 
 
 
Ceded premiums written, net of profit commission
 
$
49,672
 
 
    
Ceded premiums earned, net of profit commission
  
13,821
 
 
    
Ceded losses incurred
  
176
 
 
    
Ceding commissions
  
10,408
 
Effect of reinsurance agreements on premiums earned and losses incurred
The effect of all risk sharing arrangements on premiums earned and losses incurred is as follows:

 
 
2013
  
2012
  
2011
 
 
 
(In thousands)
 
Premiums earned:
 
  
  
 
Direct
 
$
979,078
  
$
1,065,663
  
$
1,170,868
 
Assumed
  
2,074
   
2,425
   
3,891
 
Ceded
  
(38,101
)
  
(34,918
)
  
(50,924
)
 
            
Net premiums earned
 
$
943,051
  
$
1,033,170
  
$
1,123,835
 
 
            
Losses incurred:
            
Direct
 
$
863,871
  
$
2,115,974
  
$
1,775,122
 
Assumed
  
2,645
   
6,912
   
5,229
 
Ceded
  
(27,790
)
  
(55,633
)
  
(65,644
)
 
            
Net losses incurred
 
$
838,726
  
$
2,067,253
  
$
1,714,707