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REINSURANCE (Tables)
 12 Months Ended
Dec. 31, 2016
Reinsurance Disclosures [Abstract]  
Ceded and Assumed Reinsurance
Premiums and losses and loss settlement expenses related to our ceded and assumed business are as follows:
 
 
 
 
 
 
Years Ended December 31,
2016
 
2015
 
2014
Ceded Business
 
 
 
 
 
Ceded premiums written
$
57,988

 
$
56,916

 
$
50,290

Ceded premiums earned
57,996

 
56,758

 
49,818

Loss and loss settlement expenses ceded
13,278

 
3,868

 
9,728

 
 
 
 
 
 
Assumed Business
 
 
 
 
 
Assumed premiums written
$
16,834

 
$
18,290

 
$
16,421

Assumed premiums earned
17,037

 
18,396

 
16,265

Loss and loss settlement expenses assumed
9,814

 
14,415

 
7,727



Premiums and losses and loss settlement expenses related to our ceded business are as follows:
 
 
 
 
 
 
Years Ended December 31,
2016
 
2015
 
2014
Ceded Business
 
 
 
 
 
Ceded insurance in-force
$
1,023,197

 
$
1,165,868

 
$
1,130,059

Ceded premiums earned
2,768

 
3,161

 
2,959

Loss and loss settlement expenses ceded
3,359

 
2,113

 
3,467
Reinsurance Programs and Retentions
The following table provides a summary of our primary reinsurance programs. Retention amounts reflect the accumulated retentions and co-participation of all layers within a program. For 2016, there was an all lines annual aggregate excess of loss program with a variable retention of 7.73 percent of gross net earned premium with a minimum retention of $52.0 million and a maximum of $65.0 million. Our all line aggregate recovery is also limited to a maximum of $30.0 million. For 2014 and 2015, there was a $4,000 aggregate annual deductible on our multi-line core program (casualty excess and property excess).
 
2016 Reinsurance Programs
Type of Reinsurance
Stated Retention
 
Limits
 
Coverage
Casualty excess of loss
$
2,500

 
$
40,000

 
100
%
of
$
37,500

Property excess of loss
2,500

 
25,000

 
100
%
of
$
22,500

Surety excess of loss
1,500

 
36,000

 
100
%
of
$
34,500

Property catastrophe, excess
20,000

 
250,000

 
100
%
of
$
230,000

Boiler and machinery
N/A

 
50,000

 
100
%
of
$
50,000

 
2015 Reinsurance Programs
Type of Reinsurance
Stated Retention
 
Limits
 
Coverage
Casualty excess of loss
$
2,000

 
$
40,000

 
100
%
of
$
38,000

Property excess of loss
2,000

 
25,000

 
100
%
of
$
23,000

Surety excess of loss
1,500

 
36,000

 
96
%
of
$
34,500

Property catastrophe, excess
20,000

 
200,000

 
100
%
of
$
180,000

Property catastrophe, excess
200,000

 
250,000

 
90.5
%
of
$
50,000

Boiler and machinery
N/A

 
50,000

 
100
%
of
$
50,000


 
2014 Reinsurance Programs
Type of Reinsurance
Stated Retention
 
Limits
 
Coverage
Casualty excess of loss
$
2,000

 
$
40,000

 
100
%
of
$
38,000

Property excess of loss
2,000

 
15,000

 
100
%
of
$
13,000

Surety excess of loss
1,500

 
28,000

 
91
%
of
$
26,500

Property catastrophe, excess
20,000

 
200,000

 
100
%
of
$
180,000

Property catastrophe, excess
200,000

 
250,000

 
90.5
%
of
$
50,000

Boiler and machinery
N/A

 
50,000

 
100
%
of
$
50,000