Reinsurance

(a) Reinsurance Recoverable on Paid and Unpaid Losses

The Company uses retrocessional agreements to reduce its exposure to risk of loss on reinsurance assumed. These agreements provide for recovery from retrocessionaires of a portion of losses and loss expenses. The Company remains liable to its cedants to the extent that the retrocessionaires do not meet their obligations under these agreements, and therefore the Company evaluates the financial condition of its reinsurers and monitors concentration of credit risk on an ongoing basis. The Company actively manages its reinsurance exposures by generally selecting retrocessionaires having a credit rating of A- or higher. In certain cases where an otherwise suitable retrocessionaire has a credit rating lower than A-, the Company generally requires the posting of collateral, including escrow funds and letters of credit, as a condition to its entering into a retrocession agreement. The Company regularly reviews its reinsurance recoverable balances to estimate an allowance for uncollectible amounts based on quantitative and qualitative factors. There was no allowance for uncollectible reinsurance recoverable at December 31, 2019 and 2018 deemed necessary based on the quantitative and qualitative analysis as collectability was determined to be reasonably assured and given that any recoverables related to reinsurers with ratings below A- or unrated are collateralized.

(b) Ceded Reinsurance

Net premiums written, net premiums earned and losses and loss expenses are reported net of reinsurance in the Company’s Consolidated Statements of Operations. Assumed, ceded and net amounts for the years ended December 31, 2019, 2018 and 2017 were as follows (in thousands of U.S. dollars):



	Premiums Written		Premiums Earned		Losses and Loss Expenses
2019	Premiums Written		Premiums Earned		Losses and Loss Expenses
Non-life ⁽¹⁾	$	5,792,542	$	5,433,357	$	3,879,242
Life and Health	1,492,778		1,489,721		1,277,684
Assumed	$	7,285,320	$	6,923,078	$	5,156,926

Non-life ⁽¹⁾	$	353,735	$	375,301	$	219,102
Life and Health	22,527		22,559		14,668
Ceded	$	376,262	$	397,860	$	233,770

Non-life⁽¹⁾	$	5,438,807	$	5,058,056	$	3,660,140
Life and Health	1,470,251		1,467,162		1,263,016
Net	$	6,909,058	$	6,525,218	$	4,923,156



	Premiums Written		Premiums Earned		Losses and Loss Expenses
2018	Premiums Written		Premiums Earned		Losses and Loss Expenses
Non-life	$	5,064,780	$	4,751,958	$	3,566,201
Life and Health	1,235,149		1,235,973		1,035,363
Assumed	$	6,299,929	$	5,987,931	$	4,601,564

Non-life	$	472,498	$	450,096	$	397,554
Life and Health	24,067		24,025		10,755
Ceded	$	496,565	$	474,121	$	408,309

Non-life	$	4,592,282	$	4,301,862	$	3,168,647
Life and Health	1,211,082		1,211,948		1,024,608
Net	$	5,803,364	$	5,513,810	$	4,193,255



	Premiums Written		Premiums Earned		Losses and Loss Expenses
2017	Premiums Written		Premiums Earned		Losses and Loss Expenses
Non-life	$	4,604,938	$	4,483,662	$	3,644,844
Life and Health	982,956		987,884		813,446
Assumed	$	5,587,894	$	5,471,546	$	4,458,290

Non-life	$	450,129	$	428,471	$	639,277
Life and Health	17,839		18,094		(21,969		)
Ceded	$	467,968	$	446,565	$	617,308

Non-life	$	4,154,809	$	4,055,191	$	3,005,567
Life and Health	965,117		969,790		835,415
Net	$	5,119,926	$	5,024,981	$	3,840,982


(1)	Non-life Losses and loss expenses include amounts allocated to Corporate and Other as disclosed in Note 18.