Reinsurance (Tables)

6 Months Ended

Jun. 30, 2015

Reinsurance [Abstract]

Effect of reinsurance transactions on our premium, loss and loss adjustment expense and policy acquisition costs

		Six months ended June 30,				Three months ended June 30,
		2015		2014		2015		2014
Direct written premium		$	1,617,584	$	1,369,751	$	900,536	$	749,239
Reinsurance assumed			186,305		209,700		77,217		83,490
Reinsurance ceded			(368,840)		(342,255)		(211,620)		(185,715)
	Net written premium	$	1,435,049	$	1,237,196	$	766,133	$	647,014
Direct earned premium		$	1,445,719	$	1,288,995	$	742,135	$	651,682
Reinsurance assumed			144,001		152,341		72,833		76,318
Reinsurance ceded			(347,317)		(306,476)		(173,128)		(155,752)
	Net earned premium	$	1,242,403	$	1,134,860	$	641,840	$	572,248
Direct loss and loss adjustment expense		$	937,382	$	743,616	$	478,656	$	383,987
Reinsurance assumed			38,930		63,274		11,714		21,472
Reinsurance ceded			(215,845)		(140,247)		(95,065)		(69,562)
	Net loss and loss adjustment expense	$	760,467	$	666,643	$	395,305	$	335,897

Policy acquisition costs		$	238,995	$	215,210	$	123,925	$	110,565
Ceding commissions			(85,325)		(73,199)		(45,466)		(37,595)
	Net policy acquisition costs	$	153,670	$	142,011	$	78,459	$	72,970

Components of our reinsurance recoverables

		June 30,		December 31,
		2015		2014
Reinsurance recoverable on paid losses		$	92,897	$	99,937
Reinsurance recoverable on outstanding losses			439,252		443,059
Reinsurance recoverable on incurred but not reported losses			634,562		627,404
Reserve for uncollectible reinsurance			(1,500)		(1,500)
	Total reinsurance recoverables	$	1,165,211	$	1,168,900