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

6 Months Ended

Jun. 30, 2021

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

Summary Of Activity In The Reserve For Losses And LAE

	Six Months Ended
	June 30,
(Dollars in thousands)	2021			2020
Gross reserves beginning of period	$	16,398,997		$	13,611,313
Less reinsurance recoverables		(1,843,691)			(1,640,712)
Net reserves beginning of period		14,555,306			11,970,601
Incurred related to:
Current year		3,302,013			2,835,129
Prior years		(4,453)			2,727
Total incurred losses and LAE		3,297,560			2,837,856
Paid related to:
Current year		710,677			570,460
Prior years		1,394,838			1,579,931
Total paid losses and LAE		2,105,515			2,150,391
Foreign exchange/translation adjustment		35,651			(74,372)
Net reserves end of period		15,783,002			12,583,694
Plus reinsurance recoverables		1,862,760			1,692,947
Gross reserves end of period	$	17,645,762		$	14,276,641
(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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