| Effects of Reinsurance |
The effect of our reinsurance agreements on premiums written and earned is as follows: | | | | | | | | | | | | | | | | | For the three months ended | For the six months ended | | June 30, 2017 | | June 30, 2016 | June 30, 2017 | | June 30, 2016 | | (In Thousands) | Net premiums written | | | | | | | Direct | $ | 46,672 |
| | $ | 48,862 |
| $ | 85,916 |
| | $ | 86,991 |
| Ceded (1) | (6,886 | ) | | — |
| (11,527 | ) | | — |
| Net premiums written | $ | 39,786 |
| | $ | 48,862 |
| $ | 74,389 |
|
| $ | 86,991 |
| | | | | | | | Net premiums earned | | | | | | | Direct | $ | 44,233 |
| | $ | 26,041 |
| $ | 81,671 |
| | $ | 45,848 |
| Ceded (1) | (6,316 | ) | | — |
| (10,529 | ) | | — |
| Net premiums earned | $ | 37,917 |
| | $ | 26,041 |
| $ | 71,142 |
|
| $ | 45,848 |
|
(1) Net of profit commission The following table shows the amounts related to the 2016 QSR Transaction: | | | | | | | | | | For the three months ended | For the six months ended | | | June 30, 2017 | | | (In Thousands) | Ceded risk-in-force | $ | 2,403,027 |
| $ | 2,403,027 |
| | Ceded premiums written | (12,034 | ) | (22,326 | ) | | Ceded premiums earned | (11,463 | ) | (21,328 | ) | | Ceded claims and claims expenses | 342 |
| 610 |
| | Ceding commission written | 2,407 |
| 4,465 |
| | Ceding commission earned | 2,275 |
| 4,340 |
| | Profit commission | 6,536 |
| 12,187 |
| |
|