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Reinsurance
 9 Months Ended
Sep. 30, 2012
Reinsurance Disclosures [Abstract]  
Reinsurance
Reinsurance
The following is a summary of reinsurance financial information:
  
 
For the Three Months Ended
 
For the Nine Months Ended
 
 
September 30,
 
September 30,
(Dollars in thousands)
 
2012
 
2011
 
2012
 
2011
Written premiums:
 
 
 
 
 
 
 
 
Direct
 
$
1,267,882

 
$
1,114,494

 
$
3,718,477

 
$
3,286,220

Assumed
 
226,842

 
191,806

 
608,693

 
535,214

Ceded
 
(218,837
)
 
(180,161
)
 
(656,766
)
 
(554,577
)
Total net premiums written
 
$
1,275,887

 
$
1,126,139

 
$
3,670,404

 
$
3,266,857

 
 
 
 
 
 
 
 
 
Earned premiums:
 
 
 
 
 
 
 
 
Direct
 
$
1,208,257

 
$
1,070,279

 
$
3,475,375

 
$
3,063,410

Assumed
 
193,024

 
165,208

 
559,304

 
489,020

Ceded
 
(214,748
)
 
(179,664
)
 
(601,138
)
 
(496,866
)
Total net premiums earned
 
$
1,186,533

 
$
1,055,823

 
$
3,433,541

 
$
3,055,564

 
 
 
 
 
 
 
 
 
Ceded losses incurred
 
$
114,273

 
$
134,027

 
$
308,692

 
$
329,139


The Company reinsures a portion of its exposures principally to reduce its net liability on individual risks and to protect against catastrophic losses. Estimated amounts due from reinsurers are reported net of reserves for uncollectible reinsurance of $2 million as of September 30, 2012 and December 31, 2011.