The following table sets forth the effect of reinsurance and retrocessional activity on premiums written and earned and on net claims and claim expenses incurred: Year ended December 31, 2021 2020 2019 Premiums Written Direct  99,28  12,12  1,09 Assumed ,89,12 ,19,99 ,,1 Ceded (1,89,2) (1,09,82) (1,2,2) Net premiums written  ,99,  ,09,  ,81,9 Premiums Earned Direct  99,1  ,9  0,2 Assumed ,2,81 ,08,82 ,8,21 Ceded (1,8,0) (1,2,81) (1,1,8) Net premiums earned  ,19,181  ,92,2  ,8,0 Claims and Claim Expenses !ross claims and claim expenses incurred  ,90,1  ,89,20  ,221,8 Claims and claim expenses recovered (2,029,29) (98,9) (1,12,) Net claims and claim expenses incurred  ,8,08  2,92,09  2,09,021 In assessing an allowance for reinsurance assets, which includes premiums receivable and reinsurance recoverable, the Company considers historical information, financial strength of reinsurers, collateralization amounts, and ratings to determine the appropriateness of the allowance. In assessing future default for reinsurance assets, the Company evaluates the provision for current expected credit losses under the probability of default and loss given default method. The Company utilizes its internal capital and risk models, which use counterparty ratings from major rating agencies, and assesses the current market conditions for the likelihood of default. The Company updates its internal capital and risk models for counterparty ratings and current market conditions on a periodic basis. Historically, the Company has not experienced material credit losses from reinsurance assets. Premiums receivable reflect premiums written based on contract and policy terms and include estimates based on information received from both insureds and ceding companies, supplemented by our own judgment, including our estimates of premiums that are written but not reported. Due to the nature of reinsurance, ceding companies routinely report and remit premiums to us subsequent to the contract coverage period, although the time lag involved in the process of reporting and collecting premiums is typically shorter than the lag in reporting losses. At December 1, 2021, the Company’s premiums receivable balance was .8 billion ( 2020 - 2.9 billion). Of the Company’s premiums receivable balance as of December 1, 2021, the majority are receivable from highly rated counterparties. The provision for current expected credit losses on the Company’s premiums receivable was 2.8 million at December 1, 2021 ( 2020 - .0 million). The following table provides a roll forward of the provision for current expected credit losses of the Company’s premiums receivable: Year ended December 31, 2021 eginning balance  ,91 Provision for allowance (,18) Ending balance  2, Reinsurance recoverable reflects amounts due from reinsurers based on the claim liabilities associated with the reinsured policy. The Company accrues amounts that are due from assuming companies based on estimated ultimate losses applicable to the contracts. At December 1, 2021, the Company’s reinsurance recoverable balance was . billion ( 2020 - 2.9 billion). Of the Company’s reinsurance recoverable balance at December 1, 2021, .9 is fully F-0