Reinsurance Receivables

12 Months Ended

Dec. 31, 2021

The following table presents the effect of reinsurance on premiums written and earned by our insurance business for the following periods:


	Direct amount		Ceded to other companies		Assumed from other companies		Net amount		Percentage of amount - assumed to net





































As of December 31, 2021
Life insurance in force	$	5,921,446	$	3,068,761	$	—	$	2,852,685
For the Year ended December 31, 2021











Premiums written:
Life insurance	$	91,865	$	46,920	$	808	$	45,753	1.8	%
Accident and health insurance	146,256		100,717		5,790		51,329		11.3	%
Property and liability insurance	1,141,979		558,471		214,150		797,658		26.8	%
Total premiums written	$	1,380,100	$	706,108	$	220,748	$	894,740	24.7	%

Premiums earned:
Life insurance	$	74,151	$	39,881	$	1,194	$	35,464	3.4	%
Accident and health insurance	126,501		85,457		7,219		48,263		15.0	%
Property and liability insurance	902,439		504,785		204,171		601,825		33.9	%
Total premiums earned	$	1,103,091	$	630,123	$	212,584	$	685,552	31.0	%

As of December 31, 2020
Life insurance in force	$	5,153,151	$	2,985,196	$	—	$	2,167,955
For the Year Ended December 31, 2020
Premiums written:
Life insurance	$	69,704	$	39,761	$	1,550	$	31,493	4.9	%
Accident and health insurance	117,235		78,233		12,696		51,698		24.6	%
Property and liability insurance	825,845		509,818		144,332		460,359		31.4	%
Total premiums written	$	1,012,784	$	627,812	$	158,578	$	543,550	29.2	%


	Direct amount		Ceded to other companies		Assumed from other companies		Net amount		Percentage of amount - assumed to net
Premiums earned:
Life insurance	$	68,637	$	37,194	$	1,437	$	32,880	4.4	%
Accident and health insurance	118,183		78,365		11,599		51,417		22.6	%
Property and liability insurance	691,310		405,469		107,853		393,694		27.4	%
Total premiums earned	$	878,130	$	521,028	$	120,889	$	477,991	25.3	%

As of December 31, 2019
Life insurance in force	$	5,176,056	$	2,884,009	$	—	$	2,292,047
For the Year Ended December 31, 2019
Premiums written:
Life insurance	$	75,060	$	40,555	$	1,692	$	36,197	4.7	%
Accident and health insurance	133,514		87,447		3,201		49,268		6.5	%
Property and liability insurance	709,515		350,093		92,246		451,668		20.4	%
Total premiums written	918,089		478,095		97,139		537,133		18.1	%

Premiums earned:
Life insurance	68,282		35,929		1,607		33,960		4.7	%
Accident and health insurance	123,182		82,660		3,165		43,687		7.2	%
Property and liability insurance	597,852		242,180		65,789		421,461		15.6	%
Total premiums earned	$	789,316	$	360,769	$	70,561	$	499,108	14.1	%

The following table presents the components of policy and contract benefits, including the effect of reinsurance on losses and loss adjustment expenses (LAE) incurred:


	Direct amount		Ceded to other companies		Assumed from other companies		Net amount		Percentage of amount - assumed to net



























For the Year ended December 31, 2021
Losses and LAE Incurred






Life insurance	$	59,526	$	34,030	$	869	$	26,365	3.3	%
Accident and health insurance	21,509		18,091		2,225		5,643		39.4	%
Property and liability insurance	354,308		239,678		106,835		221,465		48.2	%
Total losses and LAE incurred	435,343		291,799		109,929		253,473		43.4	%

	Member benefit claims (1)						73,539
	Total policy and contract benefits						$	327,012


	Direct amount		Ceded to other companies		Assumed from other companies		Net amount		Percentage of amount - assumed to net
For the Year Ended December 31, 2020
Losses and LAE Incurred
Life insurance	$	46,268	$	27,292	$	645	$	19,621	3.3	%
Accident and health insurance	18,354		15,715		7,032		9,671		72.7	%
Property and liability insurance	282,906		182,115		48,165		148,956		32.3	%
Total losses and LAE incurred	347,528		225,122		55,842		178,248		31.3	%

	Member benefit claims (1)						58,650
	Total policy and contract benefits						$	236,898

For the Year Ended December 31, 2019
Losses and LAE Incurred
Life insurance	$	38,306	$	22,607	$	443	$	16,142	2.7	%
Accident and health insurance	18,832		15,022		362		4,172		8.7	%
Property and liability insurance	225,200		147,290		52,785		130,695		40.4	%
Total losses and LAE incurred	282,338		184,919		53,590		151,009		35.5	%
	Member benefit claims (1)						19,672
	Total policy and contract benefits						$	170,681

(1) Member benefit claims are not covered by reinsurance.

The following table presents the components of the reinsurance receivables:




	As of December 31,
	2021		2020
Prepaid reinsurance premiums:
Life insurance (1)	$	73,478	$	70,066
Accident and health insurance (1)	81,521		66,261
Property and liability insurance	479,091		423,868
Total	634,090		560,195

Ceded claim reserves:
Life insurance	3,928		4,133
Accident and health insurance	12,239		11,118
Property and liability insurance	148,962		98,092
Total ceded claim reserves recoverable	165,129		113,343
Other reinsurance settlements recoverable	81,617		54,471
Reinsurance receivables	$	880,836	$	728,009

(1) Including policyholder account balances ceded.

The following table presents the aggregate amount included in reinsurance receivables that is comprised of the three largest receivable balances from non-affiliated reinsurers:


	As of
	December 31, 2021
Total of the three largest receivable balances from non-affiliated reinsurers	$	126,089

As of December 31, 2021, the non-affiliated reinsurers from whom our insurance business has the largest receivable balances were: Allianz Global Corporate & Specialty SE (A. M. Best Rating: A+ rated), Canada Life International Reinsurance (Bermuda) Corporation (A. M. Best Rating: A+ rated), and Canada Life Assurance Company (A. M. Best Rating: A+ rated). The related receivables of these reinsurers are collateralized by assets on hand, assets held in trust accounts and letters of credit. As of December 31, 2021, the Company does not believe there is a risk of loss due to the concentration of credit risk in the reinsurance program given the collateralization.