XML 42 R29.htm IDEA: XBRL DOCUMENT
v3.20.2

Unpaid Losses And Loss Adjustment Expenses (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2020
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims [Abstract] |
Reconciliation Of Consolidated Reserves For Losses And Loss Adjustment Expenses | The following table presents a reconciliation of consolidated beginning and ending reserves for losses and loss adjustment expenses.
| Six Months Ended June 30, |  |
(dollars in thousands) | 2020 |  | 2019
Net reserves for losses and loss adjustment expenses, beginning of year | $ | 9,475,261 |  |  | $ | 9,214,443 |
Effect of foreign currency rate changes on beginning of year balance | (75,037) |  |  | (2,866) |
Effect of adoption of ASC 326 (see note 2) | 3,849 |  |  | — |
Adjusted net reserves for losses and loss adjustment expenses, beginning of year | 9,404,073 |  |  | 9,211,577 |
Incurred losses and loss adjustment expenses: |  |  |
Current accident year | 2,057,729 |  |  | 1,554,682 |
Prior accident years | (268,220) |  |  | (188,949) |
Total incurred losses and loss adjustment expenses | 1,789,509 |  |  | 1,365,733 |
Payments: |  |  |
Current accident year | 217,466 |  |  | 206,461 |
Prior accident years | 1,033,176 |  |  | 1,173,743 |
Total payments | 1,250,642 |  |  | 1,380,204 |
Effect of foreign currency rate changes on current year activity | (1,997) |  |  | 760 |
Net reserves for losses and loss adjustment expenses, end of period | 9,940,943 |  |  | 9,197,866 |
Reinsurance recoverables on unpaid losses | 5,304,562 |  |  | 5,137,917 |
Gross reserves for losses and loss adjustment expenses, end of period | $ | 15,245,505 |  |  | $ | 14,335,783 |

X
- References No definition available. + Details
Name: | us-gaap_LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaimsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=116884095&loc=d3e14764-158437 + Details
Name: | us-gaap_ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration