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

9 Months Ended

Sep. 30, 2021

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)	2021			2020
Gross reserves beginning of period	$	16,398,997		$	13,611,313
Less reinsurance recoverables on unpaid losses		(1,843,691)			(1,640,712)
Net reserves beginning of period		14,555,306			11,970,601
Incurred related to:
Current year		5,577,911			4,572,640
Prior years		(6,050)			1,426
Total incurred losses and LAE		5,571,861			4,574,066
Paid related to:
Current year		1,375,665			1,015,538
Prior years		1,786,393			2,042,712
Total paid losses and LAE		3,162,058			3,058,250
Foreign exchange/translation adjustment		(41,000)			(28,024)
Net reserves end of period		16,924,109			13,458,393
Plus reinsurance recoverables on unpaid losses		2,032,844			1,774,732
Gross reserves end of period	$	18,956,953		$	15,233,125
(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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