Reinsurance (Tables)

3 Months Ended

Mar. 31, 2015

Reinsurance [Abstract]

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

		Three months ended March 31,
		2015		2014
Direct written premium		$	717,048	$	620,512
Reinsurance assumed			109,088		126,210
Reinsurance ceded			(157,220)		(156,540)
	Net written premium	$	668,916	$	590,182
Direct earned premium		$	703,584	$	637,313
Reinsurance assumed			71,168		76,023
Reinsurance ceded			(174,189)		(150,724)
	Net earned premium	$	600,563	$	562,612
Direct loss and loss adjustment expense		$	458,726	$	359,629
Reinsurance assumed			27,216		41,802
Reinsurance ceded			(120,780)		(70,685)
	Net loss and loss adjustment expense	$	365,162	$	330,746

Policy acquisition costs		$	115,070	$	104,645
Ceding commissions			(39,859)		(35,604)
	Net policy acquisition costs	$	75,211	$	69,041

Components of our reinsurance recoverables

		March 31,		December 31,
		2015		2014
Reinsurance recoverable on paid losses		$	95,157	$	99,937
Reinsurance recoverable on outstanding losses			448,069		443,059
Reinsurance recoverable on incurred but not reported losses			634,415		627,404
Reserve for uncollectible reinsurance			(1,500)		(1,500)
	Total reinsurance recoverables	$	1,176,141	$	1,168,900