Premiums and Reinsurance Related Information

3 Months Ended

Mar. 31, 2021

Premiums and Reinsurance Related Information

The following is a summary of insurance and reinsurance financial information:


	For the Three Months Ended March 31,

(In thousands)	2021		2020
Written premiums:
Direct	$	2,177,162	$	1,964,490
Assumed	307,550		266,882
Ceded	(434,674)		(385,526)
Total net premiums written	$	2,050,038	$	1,845,846

Earned premiums:
Direct	$	2,003,045	$	1,829,713
Assumed	259,541		228,214
Ceded	(412,630)		(366,509)
Total net premiums earned	$	1,849,956	$	1,691,418

Ceded losses and loss expenses incurred	$	298,740	$	235,183
Ceded commissions earned	$	101,680	$	81,045

The following table presents the rollforward of the allowance for expected credit losses for premiums and fees receivable for the three months ended March 31, 2021:


(In thousands)
Allowance for expected credit losses at December 31, 2020	$	22,883

Provision for expected credit losses	1,381
Allowance for expected credit losses at March 31, 2021	$	24,264

The following table presents the rollforward of the allowance for expected credit losses for premiums and fees receivable for the three months ended March 31, 2020:


(In thousands)
Allowance for expected credit losses at January 1, 2020	$	19,823
Cumulative effect adjustment resulting from changes in accounting principles	1,270
Provision for expected credit losses	431
Allowance for expected credit losses at March 31, 2020	$	21,524

The Company reinsures a portion of its insurance exposures in order to reduce its net liability on individual risks and catastrophe losses. The Company also cedes premiums to state assigned risk plans and captive insurance companies. Estimated amounts due from reinsurers are reported net of an allowance for expected credit losses.

The following table presents the rollforward of the allowance for expected credit losses associated with due from reinsurers for the three months ended March 31, 2021:


(In thousands)
Allowance for expected credit losses at December 31, 2020	$	7,801

Provision for expected credit losses	(428)
Allowance for expected credit losses at March 31, 2021	$	7,373

The following table presents the rollforward of the allowance for expected credit losses associated with due from reinsurers for the three months ended March 31, 2020:


(In thousands)
Allowance for expected credit losses at January 1, 2020	$	690
Cumulative effect adjustment resulting from changes in accounting principles	5,927
Provision for expected credit losses	183
Allowance for expected credit losses at March 31, 2020	$	6,800