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

3 Months Ended

Mar. 31, 2020

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

Summary Of Activity In The Reserve For Losses And LAE

	Three Months Ended
	March 31,
(Dollars in thousands)	2020			2019
Gross reserves beginning of period	$	13,611,313		$	13,119,090
Less reinsurance recoverables		(1,640,712)			(1,619,641)
Net reserves beginning of period		11,970,601			11,499,449
Incurred related to:
Current year		1,433,440			1,050,116
Prior years		(2,600)			(1,566)
Total incurred losses and LAE		1,430,840			1,048,550
Paid related to:
Current year		168,528			103,688
Prior years		907,790			817,006
Total paid losses and LAE		1,076,318			920,694
Foreign exchange/translation adjustment and cumulative adjustment due to adoption of ASU 2016-13		(156,565)			(1,496)
Net reserves end of period		12,168,558			11,625,810
Plus reinsurance recoverables		1,651,946			1,621,292
Gross reserves end of period	$	13,820,504		$	13,247,102
(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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