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Reserve For Losses, LAE And Future Policy Benefit Reserve (Tables)

9 Months Ended

Sep. 30, 2019

Reserve For Losses LAE And Future Policy Benefit Reserve [Abstract]

Summary Of Activity In The Reserve For Losses And LAE

	Nine Months Ended
	September 30,
(Dollars in thousands)	2019			2018
Gross reserves beginning of period	$	13,119,090		$	11,884,321
Less reinsurance recoverables		(1,619,641)			(1,212,649)
Net reserves beginning of period		11,499,449			10,671,672
Incurred related to:
Current year		3,559,505			3,218,162
Prior years		(44,401)			432,187
Total incurred losses and LAE		3,515,104			3,650,349
Paid related to:
Current year		550,724			724,791
Prior years		2,406,753			2,730,015
Total paid losses and LAE		2,957,477			3,454,806
Foreign exchange/translation adjustment		(52,125)			(78,103)
Net reserves end of period		12,004,952			10,789,112
Plus reinsurance recoverables		1,632,687			1,601,041
Gross reserves end of period	$	13,637,639		$	12,390,153
(Some amounts may not reconcile due to rounding.)

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- Definition

Reserve For Losses LAE And Future Policy Benefit Reserve [Abstract]

+ References

No definition available.

+ Details

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- 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

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