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v3.19.1

Policy Claims and Benefits | 3 Months Ended
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Mar. 31, 2019
Insurance [Abstract] |
Short-Duration Insurance and Deposit Contracts [Text Block] | Policy Claims and Benefits Rollforward of Claims and Claim Adjustment Expenses The liability for unpaid claims is reported in future policy benefits and other policy-related balances within the Company’s consolidated balance sheet. Activity associated with unpaid claims is summarized below (dollars in thousands):
|  | Three months ended March 31,
|  | 2019 |  | 2018
Balance at beginning of year |  | $ | 6,584,668 |  |  | $ | 5,896,469 |
Less: reinsurance recoverable |  | (432,582 | ) |  | (455,547 | )
Net balance at beginning of year |  | 6,152,086 |  |  | 5,440,922 |
Incurred: |  |  |  |
Current year |  | 2,807,937 |  |  | 2,663,116 |
Prior years |  | 31,447 |  |  | 6,255 |
Total incurred |  | 2,839,384 |  |  | 2,669,371 |
Payments: |  |  |  |
Current year |  | (186,601 | ) |  | (180,802 | )
Prior years |  | (2,387,312 | ) |  | (2,111,275 | )
Total payments |  | (2,573,913 | ) |  | (2,292,077 | )
Other changes: |  |  |  |
Interest accretion |  | 6,556 |  |  | 6,115 |
Foreign exchange adjustments |  | 9,630 |  |  | 26,676 |
Total other changes |  | 16,186 |  |  | 32,791 |
Net balance at end the period |  | 6,433,743 |  |  | 5,851,007 |
Plus: reinsurance recoverable |  | 499,562 |  |  | 469,419 |
Balance at end of the period |  | $ | 6,933,305 |  |  | $ | 6,320,426 |
Incurred claims related to prior years reflected in the table above, resulted in part from developed claims for prior years being different than were anticipated when the liabilities for unpaid claims were originally estimated. These trends have been considered in establishing the current year liability for unpaid claims.

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- References No definition available. + Details
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- Definition The entire disclosure for insurance products considered to be short-duration contracts because the contract provides insurance protection for a fixed period of short duration and enables the insurer to cancel the contract or to adjust the provisions of the contract at the end of any contract period, such as adjusting the amount of premiums charged or coverage provided, and on contracts on which amounts are paid but insurance risk is not transferred. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -URI http://asc.fasb.org/topic&trid=2303980 + Details
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