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

3 Months Ended

Mar. 31, 2022

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)	2022			2021
Gross reserves beginning of period	$	19,009,486		$	16,322,143
Less reinsurance recoverables on unpaid losses		(1,946,365)			(1,843,691)
Net reserves beginning of period		17,063,121			14,478,452
Incurred related to:
Current year		1,790,798			1,713,253
Prior years		(935)			(1,834)
Total incurred losses and LAE		1,789,863			1,711,419
Paid related to:
Current year		307,661			215,302
Prior years		918,834			837,035
Total paid losses and LAE		1,226,495			1,052,337
Foreign exchange/translation adjustment		(121,934)			(5,841)
Net reserves end of period		17,504,555			15,131,694
Plus reinsurance recoverables on unpaid losses		1,991,082			1,882,112
Gross reserves end of period	$	19,495,637		$	17,013,806
(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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