XML 25 R39.htm IDEA: XBRL DOCUMENT v2.4.1.9
RESERVE FOR LOSSES AND LOSS EXPENSES (TABLES)
 12 Months Ended
Dec. 31, 2014
Insurance Loss Reserves [Abstract]  
COMPONENTS OF RESERVE FOR LOSSES AND LOSS EXPENSES [Table Text Block]
 
 
 
 
 
 
 
As of December 31,
2014
 
2013
 
 
 
 
 
 
 
 
Reserve for reported losses and loss expenses
$
3,285,675

 
$
3,499,817

 
 
Reserve for losses incurred but not reported
6,311,122

 
6,082,323

 
 
Reserve for losses and loss expenses
$
9,596,797

 
$
9,582,140

 
 
 
 
 
 
 
RECONCILIATION OF BEGINNING AND ENDING GROSS RESERVE FOR LOSSES AND LOSS EXPENSES AND NET RESERVE FOR UNPAID LOSSES AND LOSS EXPENSES [Table Text Block]
 
 
 
 
 
 
 
 
 
Year ended December 31,
2014
 
2013
 
2012
 
 
 
 
 
 
 
 
 
 
Gross reserve for losses and loss expenses, beginning of year
$
9,582,140

 
$
9,058,731

 
$
8,425,045

 
 
Less reinsurance recoverable on unpaid losses, beginning of year
(1,900,112
)
 
(1,825,617
)
 
(1,736,823
)
 
 
Net reserve for unpaid losses and loss expenses, beginning of year
7,682,028

 
7,233,114

 
6,688,222

 
 
 
 
 
 
 
 
 
 
Net incurred losses and loss expenses related to:
 
 
 
 
 
 
 
Current year
2,445,666

 
2,353,631

 
2,340,868

 
 
Prior years
(258,944
)
 
(219,436
)
 
(244,840
)
 
 
 
2,186,722

 
2,134,195

 
2,096,028

 
 
Net paid losses and loss expenses related to:
 
 
 
 
 
 
 
Current year
(387,197
)
 
(318,006
)
 
(322,836
)
 
 
Prior years
(1,544,664
)
 
(1,373,459
)
 
(1,299,384
)
 
 
 
(1,931,861
)
 
(1,691,465
)
 
(1,622,220
)
 
 
 
 
 
 
 
 
 
 
Foreign exchange and other
(230,372
)
 
6,184

 
71,084

 
 
 
 
 
 
 
 
 
 
Net reserve for unpaid losses and loss expenses, end of year
7,706,517

 
7,682,028

 
7,233,114

 
 
Reinsurance recoverable on unpaid losses, end of year
1,890,280

 
1,900,112

 
1,825,617

 
 
Gross reserve for losses and loss expenses, end of year
$
9,596,797

 
$
9,582,140

 
$
9,058,731

 
 
 
 
 
 
 
 
 
NET PRIOR YEAR RESERVE DEVELOPMENT BY SEGMENT [Table Text Block]
 
 
 
 
 
 
 
 
 
 
Insurance
 
Reinsurance
 
Total
 
 
 
 
 
 
 
 
 
 
Year ended December 31, 2014
$
63,735

 
$
195,209

 
$
258,944

 
 
Year ended December 31, 2013
50,355

 
169,081

 
219,436

 
 
Year ended December 31, 2012
122,209

 
122,631

 
244,840