Reinsurance (Tables)

12 Months Ended

Dec. 31, 2014

Reinsurance [Abstract]

Effect of reinsurance transactions on our premium, loss and loss adjustment expense and policy acquisition costs

	2014		2013		2012
Direct written premium	$	2,689,478	$	2,545,054	$	2,422,517
Reinsurance assumed		312,140		335,195		361,556
Reinsurance ceded		(628,373)		(624,926)		(530,677)
Net written premium	$	2,373,245	$	2,255,323	$	2,253,396
Direct earned premium	$	2,633,433	$	2,482,527	$	2,396,756
Reinsurance assumed		306,896		333,344		351,611
Reinsurance ceded		(616,702)		(576,631)		(505,742)
Net earned premium	$	2,323,627	$	2,239,240	$	2,242,625
Direct loss and loss adjustment expense	$	1,551,700	$	1,616,097	$	1,467,393
Reinsurance assumed		119,980		151,145		162,534
Reinsurance ceded		(344,845)		(444,788)		(291,853)
Net loss and loss adjustment expense	$	1,326,835	$	1,322,454	$	1,338,074

Policy acquisition costs	$	445,794	$	413,782	$	398,453
Ceding commissions		(151,124)		(134,343)		(117,252)
Net policy acquisition costs	$	294,670	$	279,439	$	281,201

Components of our reinsurance recoverables

	2014		2013
Reinsurance recoverable on paid losses	$	99,937	$	156,026
Reinsurance recoverable on outstanding losses		443,059		459,134
Reinsurance recoverable on incurred but not reported losses		627,404		663,597
Reserve for uncollectible reinsurance		(1,500)		(1,500)
Total reinsurance recoverables	$	1,168,900	$	1,277,257