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

12 Months Ended

Dec. 31, 2021

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

Summary Of Activity In The Reserve For Losses And LAE

	Years Ended December 31,
(Dollars in thousands)	2021			2020			2019
Gross reserves beginning of period	$	16,322,143		$	13,531,256		$	13,098,158
Less reinsurance recoverables on unpaid losses		(1,843,691)			(1,640,712)			(1,619,641)
Net reserves beginning of period		14,478,452			11,890,544			11,478,517
Incurred related to:
Current year		7,400,303			6,149,410			4,986,456
Prior years		(9,050)			401,427			(63,558)
Total incurred losses and LAE		7,391,253			6,550,837			4,922,898
Paid related to:
Current year		2,490,645			2,046,260			2,042,246
Prior years		2,226,457			2,077,613			2,519,950
Total paid losses and LAE		4,717,102			4,123,873			4,562,196
Foreign exchange/translation adjustment		(89,481)			160,944			51,325
Net reserves end of period		17,063,121			14,478,452			11,890,544
Plus reinsurance recoverables on unpaid losses		1,946,365			1,843,691			1,640,712
Gross reserves end of period	$	19,009,486		$	16,322,143		$	13,531,256
(Some amounts may not reconcile due to rounding.)

Ultimate Loss And ALAE And Paid Loss And ALAE, Net Of Reinsurance

Reinsurance – Casualty Business

																																At December 31, 2021
																																Total of
																																IBNR Liabilities
		Incurred Claims and Allocated Claim Adjustment Expenses, Net of reinsurance																														Plus Expected			Cumulative
		Years Ended December 31,																														Development			Number of
		2012			2013			2014			2015			2016			2017			2018			2019			2020			2021			on Reported			Reported
Accident Year		(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)						Claims			Claims
(Dollars in thousands)
2012		$	913,235		$	806,271		$	707,089		$	692,497		$	676,252		$	677,924		$	682,447		$	656,696		$	635,281		$	626,752			22,382			N/A
2013						726,240			816,634			804,255			794,549			764,362			735,487			715,578			715,519			710,499			21,566			N/A
2014									776,680			815,861			822,646			798,868			757,392			734,567			747,748			745,601			31,868			N/A
2015												795,662			836,303			831,492			828,634			812,346			848,989			849,230			75,907			N/A
2016															808,757			885,069			882,087			877,209			952,811			954,364			129,447			N/A
2017																		894,903			854,313			861,180			942,467			950,788			199,152			N/A
2018																					1,340,402			1,337,894			1,414,891			1,445,481			466,230			N/A
2019																								1,721,440			1,786,629			1,788,763			907,117			N/A
2020																											1,943,096			1,914,757			1,482,711			N/A
2021																														2,513,341			1,951,060			N/A
																													$	12,499,575

		Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
		Years Ended December 31,
		2012			2013			2014			2015			2016			2017			2018			2019			2020			2021
Accident Year		(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)
(Dollars in thousands)
2012		$	41,756		$	98,010		$	179,993		$	275,548		$	355,728		$	425,397		$	504,848		$	539,251		$	549,564		$	568,922
2013						49,581			123,813			214,769			314,826			389,143			496,373			548,578			574,706			603,638
2014									57,942			122,673			214,072			304,645			430,751			507,146			553,006			594,417
2015												57,114			160,199			267,841			413,852			503,917			573,637			621,569
2016															90,184			190,818			326,011			433,583			548,345			629,704
2017																		81,099			188,542			322,029			464,179			592,780
2018																					154,910			290,083			463,099			638,435
2019																								210,530			343,081			526,547
2020																											190,530			268,027
2021																														216,969
																													$	5,261,006
All outstanding liabilities prior to 2012, net of reinsurance																														824,128
Liabilities for claims and claim adjustment expenses, net of reinsurance																													$	8,062,697

  Reinsurance – Property Business

																																At December 31, 2021
																																Total of
																																IBNR Liabilities
		Incurred Claims and Allocated Claim Adjustment Expenses, Net of reinsurance																														Plus Expected			Cumulative
		Years Ended December 31,																														Development			Number of
		2012			2013			2014			2015			2016			2017			2018			2019			2020			2021			on Reported			Reported
Accident Year		(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)						Claims			Claims
(Dollars in thousands)
2012		$	1,595,581		$	1,282,432		$	1,159,361		$	1,158,272		$	1,152,163		$	1,144,478		$	1,132,514		$	1,151,907		$	1,154,729		$	1,152,601			10,597
2013						1,302,966			954,434			843,829			787,484			781,908			777,334			784,582			782,978			782,285			2,615
2014									1,366,519			1,207,588			1,055,896			963,339			963,168			964,131			956,387			956,892			5,114
2015												1,408,609			1,072,514			996,351			970,290			973,022			965,298			967,102			6,102
2016															1,725,574			1,560,324			1,596,178			1,590,207			1,567,764			1,568,689			19,440
2017																		2,799,762			3,422,515			3,533,258			3,662,032			3,707,890			9,592
2018																					2,650,359			2,526,001			2,527,900			2,465,788			40,866
2019																								2,122,117			2,153,458			2,098,665			176,930
2020																											2,453,269			2,526,034			616,803
2021																														2,802,843			1,445,812
																													$	19,028,789

		Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
		Years Ended December 31,
		2012			2013			2014			2015			2016			2017			2018			2019			2020			2021
Accident Year		(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)
(Dollars in thousands)
2012		$	404,621		$	703,440		$	896,790		$	990,221		$	1,024,725		$	1,058,690		$	1,069,836		$	1,092,694		$	1,101,861		$	1,106,461
2013						384,956			530,340			663,255			720,662			741,032			751,190			760,516			761,755			762,225
2014									378,154			670,226			805,888			882,489			911,719			921,984			928,821			931,494
2015												386,340			626,200			787,370			875,529			904,827			926,506			937,534
2016															489,865			1,035,935			1,336,301			1,460,922			1,520,320			1,539,568
2017																		850,375			2,277,663			2,858,044			3,259,500			3,477,657
2018																					558,319			1,563,718			1,941,282			2,125,022
2019																								769,261			1,365,923			1,703,956
2020																											606,518			1,385,266
2021																														687,773
																													$	14,656,957
All outstanding liabilities prior to 2012, net of reinsurance																														519,855
Liabilities for claims and claim adjustment expenses, net of reinsurance																													$	4,891,687

Insurance – Casualty Business

																																At December 31, 2021
																																Total of
																																IBNR Liabilities
		Incurred Claims and Allocated Claim Adjustment Expenses, Net of reinsurance																														Plus Expected			Cumulative
		Years Ended December 31,																														Development			Number of
		2012			2013			2014			2015			2016			2017			2018			2019			2020			2021			on Reported			Reported
Accident Year		(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)						Claims			Claims
(Dollars in thousands)
2012		$	349,721		$	351,526		$	347,065		$	348,260		$	353,394		$	344,007		$	346,980		$	351,441		$	353,942		$	354,697			31,942			15,782
2013						393,689			393,519			392,955			393,129			351,380			344,479			350,927			349,965			350,107			29,280			21,360
2014									431,297			457,270			454,801			460,862			397,307			398,126			399,021			397,889			44,649			25,265
2015												519,869			528,468			536,106			542,637			469,081			472,079			472,700			56,840			27,044
2016															554,134			552,057			581,114			616,641			554,151			542,750			86,737			31,674
2017																		614,528			604,615			627,426			659,359			635,622			156,575			35,627
2018																					708,122			714,065			752,894			766,992			193,686			36,041
2019																								852,407			855,266			888,280			288,688			39,219
2020																											997,126			1,058,272			620,239			34,983
2021																														1,196,128			782,844			31,679
																													$	6,663,437

		Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
		Years Ended December 31,
		2012			2013			2014			2015			2016			2017			2018			2019			2020			2021
Accident Year		(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)
(Dollars in thousands)
2012		$	33,194		$	101,300		$	157,924		$	213,488		$	246,454		$	272,113		$	294,442		$	306,934		$	311,863		$	317,249
2013						33,314			117,046			176,326			224,633			260,222			285,872			303,784			310,927			317,111
2014									41,194			124,936			201,688			256,885			297,760			326,008			339,484			350,976
2015												44,317			134,760			218,987			292,111			353,440			382,743			414,069
2016															54,740			164,357			269,127			342,880			402,518			445,429
2017																		53,918			172,415			281,339			381,169			457,197
2018																					63,587			208,432			319,559			447,358
2019																								72,394			234,915			398,600
2020																											79,658			248,000
2021																														109,311
																													$	3,505,299
All outstanding liabilities prior to 2012, net of reinsurance																														226,081
Liabilities for claims and claim adjustment expenses, net of reinsurance																													$	3,384,219

Insurance – Property Business

																																At December 31, 2021
																																Total of
																																IBNR Liabilities
		Incurred Claims and Allocated Claim Adjustment Expenses, Net of reinsurance																														Plus Expected			Cumulative
		Years Ended December 31,																														Development			Number of
		2012			2013			2014			2015			2016			2017			2018			2019			2020			2021			on Reported			Reported
Accident Year		(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)						Claims			Claims
(Dollars in thousands)
2012		$	106,363		$	89,038		$	81,773		$	82,475		$	82,045		$	81,828		$	82,005		$	82,552		$	82,613		$	82,685			5			N/A
2013						112,082			98,203			91,334			92,222			92,311			92,472			92,326			91,893			92,035			94			N/A
2014									131,752			123,744			119,989			119,523			119,344			119,481			119,138			119,428			49			N/A
2015												173,059			153,028			144,081			146,930			144,919			146,626			146,559			47			N/A
2016															291,182			275,740			280,797			292,750			295,140			297,417			380			N/A
2017																		498,044			502,601			496,195			499,323			493,370			480			N/A
2018																					409,168			403,013			398,243			411,160			693			N/A
2019																								349,061			351,599			355,692			5,808			N/A
2020																											599,613			507,281			45,162			N/A
2021																														649,738			191,897			N/A
																													$	3,155,364

		Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
		Years Ended December 31,
		2012			2013			2014			2015			2016			2017			2018			2019			2020			2021
Accident Year		(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)
(Dollars in thousands)
2012		$	56,506		$	81,798		$	80,495		$	81,776		$	81,917		$	81,708		$	81,846		$	82,483		$	82,612		$	82,669
2013						68,711			93,179			91,919			92,189			91,798			91,838			91,855			91,864			91,942
2014									81,853			116,089			118,277			118,270			118,605			118,724			118,799			118,808
2015												102,239			141,394			142,560			145,367			146,866			146,954			147,052
2016															162,906			250,034			272,535			290,278			293,247			294,031
2017																		179,403			425,384			460,130			482,817			486,538
2018																					245,840			359,276			379,654			404,819
2019																								227,630			317,766			339,411
2020																											293,331			415,518
2021																														328,207
																													$	2,708,995
All outstanding liabilities prior to 2012, net of reinsurance																														557
Liabilities for claims and claim adjustment expenses, net of reinsurance																														446,926

Average Annual Percentage Payout Incurred Claims By Age, Net Of Reinsurance

Reinsurance – Casualty Business

		Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (unaudited)
Years		1			2			3			4			5			6			7			8			9			10
Casualty		9.2	%		8.5	%		12.4	%		13.6	%		12.7	%		10.4	%		7.7	%		4.9	%		2.9	%		3.1	%

  Reinsurance – Property Business

		Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (unaudited)
Years		1			2			3			4			5			6			7			8			9			10
Property		29.0	%		32.9	%		16.2	%		8.8	%		4.3	%		1.8	%		1.0	%		0.9	%		0.5	%		0.4	%

Insurance – Casualty Business

		Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (unaudited)
Years		1			2			3			4			5			6			7			8			9			10
Casualty		8.8	%		18.8	%		17.4	%		15.2	%		11.1	%		7.2	%		5.4	%		2.8	%		1.6	%		1.5	%

Insurance – Property Business

		Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (unaudited)
Years		1			2			3			4			5			6			7			8			9			10
Property		55.4	%		31.2	%		5.0	%		4.3	%		2.6	%		0.6	%		0.6	%		0.2	%		0.1	%		0.1	%

Reconciliation of the Net Incurred and Paid Claims Development

	December 31, 2021
(Dollars in thousands)
Net outstanding liabilities
Reinsurance Casualty	$	8,062,697
Reinsurance Property		4,891,687
Insurance Casualty		3,384,219
Insurance Property		446,926
Liabilities for unpaid claims and claim adjustment expenses, net of reinsurance		16,785,529
Reinsurance recoverable on unpaid claims
Reinsurance Casualty		293,110
Reinsurance Property		507,097
Insurance Casualty		973,182
Insurance Property		172,977
Total reinsurance recoverable on unpaid claims		1,946,365
Insurance lines other than short-duration		-
Unallocated claims adjustment expenses		235,391
Other		42,199
		277,590
Total gross liability for unpaid claims and claim adjustment expense	$	19,009,486
(Some amounts may not reconcile due to rounding.)

Summary Of Incurred Losses With Respect To A&E Reserve On Both Gross And Net Of Reinsurance Basis

	At December 31,
(Dollars in thousands)	2021			2020			2019
Gross basis:
Beginning of period reserves	$	219,341		$	257,921		$	347,495
Incurred losses		10,862			1,540			2,070
Paid losses		(55,048)			(40,120)			(91,644)
End of period reserves	$	175,155		$	219,341		$	257,921
Net basis:
Beginning of period reserves	$	198,255		$	228,701		$	261,456
Incurred losses		-			(772)			-
Paid losses		(42,139)			(29,674)			(32,756)
End of period reserves	$	156,115		$	198,255		$	228,701

Summary Of Activity In The Reserve For Future Policy Benefits

	At December 31,
(Dollars in thousands)	2021			2020			2019
Balance at beginning of year	$	37,723		$	42,592		$	46,778
Liabilities assumed		27			35			53
Adjustments to reserves		719			(1,113)			350
Benefits paid in the current year		(2,800)			(3,791)			(4,589)
Balance at end of year	$	35,669		$	37,723		$	42,592
(Some amounts may not reconcile due to rounding.)

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- Definition

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

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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.

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Tabular disclosure of undiscounted information about claims development by accident year for short-duration insurance contracts.

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Tabular disclosure for the reconciliation of claims development to the liability for unpaid claims and claim adjustment expense for short-duration insurance contracts.

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Tabular disclosure of average annual percentage payout of incurred claims by age, after reinsurance, for short-duration insurance contracts.

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