Financial Strength Ratings.
The following table shows the current financial strength ratings of the Company’s operating subsidiaries as reported by A. M.  Best, Standard & Poor’s and Moody’s.
These ratings are based upon factors of concern to policyholders and should not be considered an indication of the degree or lack of risk involved in a direct or indirect equity investment in an insurance or reinsurance company.
All of the below-mentioned ratings are continually monitored and revised, if necessary, by each of the rating agencies.
The ratings presented in the following table were in effect as of February 28, 2014.
The Company believes that its ratings, in general, are important to its operations because they provide the Company’s customers and investors with an independent assessment of the Company’s underlying financial strength using a scale that provides for relative comparisons.
Strong financial ratings are particularly important for reinsurance companies.
Ceding companies must rely on their reinsurers to pay covered losses well into the future.
As a result, a highly rated reinsurer is generally preferred.
## Table 0 ##
A. M.  Best states that the “A+” (“Superior”) rating is assigned to those companies which, in its opinion, have a superior ability to meet their ongoing insurance policy and contract obligations based on A. M.  Best’s comprehensive quantitative and qualitative evaluation of a company’s balance sheet strength, operating performance and business profile.
A. M.  Best affirmed these ratings on July 25, 2013.
Standard & Poor’s states that the “A+” rating is assigned to those insurance companies which, in its opinion, have strong financial security characteristics with respect to their ability to pay under its insurance policies and contracts in accordance with their terms.
Standard & Poor’s affirmed these ratings on May 23, 2013.
Moody’s states that an “A1” rating is assigned to companies that, in their opinion, offer upper-medium grade security and are subject to low credit risk.
Subsidiaries other than Everest Re and Bermuda Re may not be rated by some or any rating agencies because such ratings are not considered essential by the individual subsidiary’s customers or because of the limited nature of the subsidiary’s operations.
In particular, Mt.
McKinley is not rated because it is in run-off status.
Debt Ratings.
The following table shows the debt ratings by A. M.  Best, Standard & Poor’s and Moody’s of the Holdings’ senior notes due October 15, 2014 and long term notes due May 1, 2067 both of which are considered investment grade.
Debt ratings are the rating agencies’ current assessment of the credit worthiness of an obligor with respect to a specific obligation.
## Table 1 ##
A debt rating of “a-” is assigned by A. M.  Best where the issuer, in A. M.  Best’s opinion, has a strong ability to meet the terms of the obligation.
A. M.  Best assigns a debt rating in the “bbb” range where the issuer, in A. M.  Best’s opinion, has adequate ability to meet the terms of the obligation.
Standard & Poor’s assigns a debt rating in the “A” range to issuers that exhibit strong capacity and willingness to meet its financial commitments on obligations as they come due.
A debt rating in the “BBB” range is assigned by Standard &
Bermuda.
The following table presents the underwriting results and ratios for the Bermuda segment for the periods indicated.
## Table 2 ##
Premiums.
Gross written premiums increased by 5.4% to $774.3 million in 2013 compared to $734.4 million in 2012, primarily due to continued growth of new business and increased premium on existing business written in our Bermuda and Ireland offices.
Net written premiums increased by 4.3% to $765.7 million in 2013 compared to $733.8 million in 2012, which is consistent with the change in gross written premiums.
Premiums earned increased 8.4% to $738.0 million in 2013 compared to $680.9 million in 2012.
The change in premiums earned relative to net written premiums is the result of timing; premiums are earned ratably over the coverage period whereas written premiums are recorded at the initiation of the coverage period.
Gross written premiums increased 1.3% to $734.4 million in 2012 compared to $725.3 million in 2011, primarily due to continued growth of new business and increased premium on existing business written in our Bermuda office, partially offset by lower premiums from our European operations due to combined competitive conditions and a negative $14.7 million impact from movement in foreign exchange rates.
Net written premiums increased by 1.1% to $733.8 million in 2012 compared to $725.5 million in 2011, in line with the increase in gross written premiums.
Premiums earned decreased 5.8% to $680.9 million in 2012 compared to $723.0 million in 2011.
The change in premiums earned relative to net written premiums is the result of timing; premiums are earned ratably over the coverage period whereas written premiums are recorded at the initiation of the coverage period.
B.
Investments.
Fixed maturity and equity security investments available for sale, at market value, reflect unrealized appreciation and depreciation, as a result of temporary changes in market value during the period, in shareholders’ equity, net of income taxes in “accumulated other comprehensive income (loss)” in the consolidated balance sheets.
Fixed maturity and equity securities carried at fair value reflect fair value remeasurements as net realized capital gains and losses in the consolidated statements of operations and comprehensive income (loss).
The Company records changes in fair value for its fixed maturities available for sale, at market value through shareholders’ equity, net of taxes in accumulated other comprehensive income (loss) since cash flows from these investments will be primarily used to settle its reserve for losses and loss adjustment expense liabilities.
The Company anticipates holding these investments for an extended period as the cash flow from interest and maturities will fund the projected payout of these liabilities.
Fixed maturities carried at fair value represent a portfolio of convertible bond securities, which have characteristics similar to equity securities and at times, designated foreign denominated fixed maturity securities, which will be used to settle loss and loss adjustment reserves in the same currency.
The Company carries all of its equity securities at fair value except for mutual fund investments whose underlying investments are comprised of fixed maturity securities.
For equity securities, available for sale, at fair value, the Company reflects changes in value as net realized capital gains and losses since these securities may be sold in the near term depending on financial market conditions.
Interest income on all fixed maturities and dividend income on all equity securities are included as part of net investment income in the consolidated statements of operations and comprehensive income (loss).
Unrealized losses on fixed maturities, which are deemed other-than-temporary and related to the credit quality of a security, are charged to net income (loss) as net realized capital losses.
Short-term investments are stated at cost, which approximates market value.
Realized gains or losses on sales of investments are determined on the basis of identified cost.
For nonpublicly traded securities, market prices are determined through the use of pricing models that evaluate securities relative to the U. S.  Treasury yield curve, taking into account the issue type, credit quality, and cash flow characteristics of each security.
For publicly traded securities, market value is based on quoted market prices or valuation models that use observable market inputs.
When a sector of the financial markets is inactive or illiquid, the Company may use its own assumptions about future cash flows and risk-adjusted discount rates to determine fair value.
Retrospective adjustments are employed to recalculate the values of asset-backed securities.
Each acquisition lot is reviewed to recalculate the effective yield.
The recalculated effective yield is used to derive a book value as if the new yield were applied at the time of acquisition.
Outstanding principal factors from the time of acquisition to the adjustment date are used to calculate the prepayment history for all applicable securities.
Conditional prepayment rates, computed with life to date factor histories and weighted average maturities, are used to effect the calculation of projected and prepayments for pass-through security types.
Other invested assets include limited partnerships and rabbi trusts.
Limited partnerships are accounted for under the equity method of accounting, which can be recorded on a monthly or quarterly lag.
C.  Uncollectible Receivable Balances.
The Company provides reserves for uncollectible reinsurance recoverable and premium receivable balances based on management’s assessment of the collectability of the outstanding balances.
Such reserves are presented in the table below for the periods indicated.

<table><tr><td>Operating Subsidiary:</td><td>A.M. Best</td><td>Standard & Poor's</td><td>Moody's</td></tr><tr><td>Everest Re</td><td>A+ (Superior)</td><td>A+ (Strong)</td><td>A1 (upper-medium)</td></tr><tr><td>Bermuda Re</td><td>A+ (Superior)</td><td>A+ (Strong)</td><td>A1 (upper-medium)</td></tr><tr><td>Ireland Re</td><td>A+ (Superior)</td><td>A+ (Strong)</td><td>Not Rated</td></tr><tr><td>Everest International</td><td>A+ (Superior)</td><td>Not Rated</td><td>Not Rated</td></tr><tr><td>Everest National</td><td>A+ (Superior)</td><td>A+ (Strong)</td><td>Not Rated</td></tr><tr><td>Everest Indemnity</td><td>A+ (Superior)</td><td>Not Rated</td><td>Not Rated</td></tr><tr><td>Everest Security</td><td>A+ (Superior)</td><td>Not Rated</td><td>Not Rated</td></tr><tr><td>Everest Canada</td><td>A+ (Superior)</td><td>Not Rated</td><td>Not Rated</td></tr><tr><td>Mt. McKinley</td><td>Not Rated</td><td>Not Rated</td><td>Not Rated</td></tr><tr><td>Mt. Logan Re</td><td>Not Rated</td><td>Not Rated</td><td>Not Rated</td></tr></table>
<table><tr><td></td><td colspan="2">A.M. Best</td><td colspan="2">Standard & Poor's</td><td colspan="2">Moody's</td></tr><tr><td>Senior Notes</td><td>a-</td><td>(Strong)</td><td>A-</td><td>(Strong)</td><td>Baa1</td><td>(Medium Grade)</td></tr><tr><td>Long Term Notes</td><td>bbb</td><td>(Adequate)</td><td>BBB</td><td>(Adequate)</td><td>Baa2</td><td>(Medium Grade)</td></tr></table>
<table><tr><td></td><td colspan="3">Years Ended December 31,</td><td colspan="2">2013/2012</td><td colspan="2">2012/2011</td></tr><tr><td>(Dollars in millions)</td><td>2013</td><td>2012</td><td>2011</td><td>Variance</td><td>% Change</td><td>Variance</td><td>% Change</td></tr><tr><td>Gross written premiums</td><td>$774.3</td><td>$734.4</td><td>$725.3</td><td>$39.9</td><td>5.4%</td><td>$9.1</td><td>1.3%</td></tr><tr><td>Net written premiums</td><td>765.7</td><td>733.8</td><td>725.5</td><td>31.9</td><td>4.3%</td><td>8.2</td><td>1.1%</td></tr><tr><td>Premiums earned</td><td>$738.0</td><td>$680.9</td><td>$723.0</td><td>$57.0</td><td>8.4%</td><td>$-42.0</td><td>-5.8%</td></tr><tr><td>Incurred losses and LAE</td><td>374.4</td><td>408.2</td><td>613.9</td><td>-33.9</td><td>-8.3%</td><td>-205.6</td><td>-33.5%</td></tr><tr><td>Commission and brokerage</td><td>179.1</td><td>184.4</td><td>174.0</td><td>-5.2</td><td>-2.8%</td><td>10.3</td><td>5.9%</td></tr><tr><td>Other underwriting expenses</td><td>34.7</td><td>30.6</td><td>26.3</td><td>4.0</td><td>13.2%</td><td>4.3</td><td>16.4%</td></tr><tr><td>Underwriting gain (loss)</td><td>$149.8</td><td>$57.8</td><td>$-91.2</td><td>$92.1</td><td>159.4%</td><td>$149.0</td><td>-163.3%</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Point Chg</td><td></td><td>Point Chg</td></tr><tr><td>Loss ratio</td><td>50.7%</td><td>60.0%</td><td>84.9%</td><td></td><td>-9.3</td><td></td><td>-24.9</td></tr><tr><td>Commission and brokerage ratio</td><td>24.3%</td><td>27.1%</td><td>24.1%</td><td></td><td>-2.8</td><td></td><td>3.0</td></tr><tr><td>Other underwriting expense ratio</td><td>4.7%</td><td>4.4%</td><td>3.6%</td><td></td><td>0.3</td><td></td><td>0.8</td></tr><tr><td>Combined ratio</td><td>79.7%</td><td>91.5%</td><td>112.6%</td><td></td><td>-11.8</td><td></td><td>-21.1</td></tr><tr><td colspan="2">(Some amounts may not reconcile due to rounding.)</td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>

Question: What was the sum of Years Ended December 31 without those Years Ended December 31 smaller than 700 in 2013? (in million)
Answer: 2278.0