Reinsurance Receivables

6 Months Ended

Jun. 30, 2014

Reinsurance Disclosures [Abstract]

Reinsurance [Text Block]

Reinsurance Receivables

The following table presents the effect of reinsurance on premiums written and earned:

Premiums	For the Three Months Ended June 30,												For the Six Months Ended June 30,
	2014						2013						2014						2013
	Written			Earned			Written			Earned			Written			Earned			Written			Earned
Direct and assumed	$	120,204		$	110,779		$	99,978		$	91,854		$	221,676		$	219,278		$	181,488		$	183,976
Ceded	(86,828		)	(77,616		)	(63,810		)	(58,173		)	(156,418		)	(151,187		)	(114,487		)	(117,153		)
Net	$	33,376		$	33,163		$	36,168		$	33,681		$	65,258		$	68,091		$	67,001		$	66,823

The following table presents the effect of reinsurance on losses and loss adjustment expenses ("LAE") incurred:

Losses and LAE incurred	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2014			2013			2014			2013
Direct and assumed	$	27,023		$	22,485		$	53,141		$	43,525
Ceded	(17,146		)	(11,881		)	(32,438		)	(22,386		)
Net losses and LAE incurred	$	9,877		$	10,604		$	20,703		$	21,139

The following table presents the components of the reinsurance receivables:	At
	June 30, 2014		December 31, 2013
Prepaid reinsurance premiums:
Life (1)	$	49,219	$	51,355
Accident and health (1)	35,792		36,214
Property	105,228		98,650
Total	190,239		186,219
Ceded claim reserves:
Life	1,460		1,594
Accident and health	7,313		7,826
Property	16,458		12,102
Total ceded claim reserves recoverable	25,231		21,522
Other reinsurance settlements recoverable	3,604		7,343
Reinsurance receivables	$	219,074	$	215,084

⁽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 unrelated reinsurers:

	At
	June 30, 2014		December 31, 2013
Total of the three largest receivable balances from unrelated reinsurers	$	137,328	$	136,061

At June 30, 2014 and December 31, 2013, respectively, the three unrelated reinsurers from whom the Company has the largest receivable balances were: London Life Reinsurance Company (A. M. Best Rating: A), London Life International Reinsurance Corporation (A. M. Best Rating: Not rated) and Spartan Property Insurance Company (A. M. Best Rating: Not rated). The related receivables of Spartan Property Insurance Company and London Life International Reinsurance Corporation are collateralized by assets held in trust accounts and letters of credit due to their offshore relationships. At June 30, 2014, the Company does not believe there is a risk of loss as a result of the concentration of credit risk in the reinsurance program.