XML 25 R15.htm IDEA: XBRL DOCUMENT
v3.22.2

Reserve for Loss and Loss Expense | 6 Months Ended
--- | ---
Jun. 30, 2022
Insurance Loss Reserves [Abstract] |
Reserve for Loss and Loss Expense | Reserve for Loss and Loss Expense The table below provides a roll forward of reserve for loss and loss expense for beginning and ending reserve balances:
|  | Six Months ended June 30,
($ in thousands) |  | 2022 |  | 2021
Gross reserve for loss and loss expense, at beginning of period |  | $ | 4,580,903 |  |  | 4,260,355 |
Less: reinsurance recoverable on unpaid loss and loss expense, at beginning of period |  | 578,641 |  |  | 554,269 |
Net reserve for loss and loss expense, at beginning of period |  | 4,002,262 |  |  | 3,706,086 |
Incurred loss and loss expense for claims occurring in the: |  |  |  |
Current year |  | 1,041,778 |  |  | 886,801 |
Prior years |  | (22,674) |  |  | (51,777) |
Total incurred loss and loss expense |  | 1,019,104 |  |  | 835,024 |
Paid loss and loss expense for claims occurring in the: |  |  |  |
Current year |  | 272,401 |  |  | 227,505 |
Prior years |  | 570,868 |  |  | 455,919 |
Total paid loss and loss expense |  | 843,269 |  |  | 683,424 |
Net reserve for loss and loss expense, at end of period |  | 4,178,097 |  |  | 3,857,686 |
Add: Reinsurance recoverable on unpaid loss and loss expense, at end of period |  | 544,082 |  |  | 579,567 |
Gross reserve for loss and loss expense at end of period |  | $ | 4,722,179 |  |  | 4,437,253 |
Prior year reserve development in Six Months 2022 was favorable by $22.7 million, consisting of $32.0 million of favorable casualty reserve development, partially offset by $9.3 million of unfavorable property reserve development. The favorable casualty reserve development included $20.0 million in our workers compensation line of business, $7.0 million in our bonds line of business, and $5.0 million in our general liability line of business. Prior year reserve development in Six Months 2021 was favorable by $51.8 million, consisting of $52.0 million of casualty reserve development. The favorable casualty reserve development included $25.0 million in our general liability line of business, $20.0 million in our workers compensation line of business, and $7.0 million in our Excess and Surplus (E&S") casualty lines of business.

X
- References No definition available. + Details
Name: | us-gaap_InsuranceLossReservesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for liabilities related to future policy benefits and unpaid claims and claim adjustments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -URI http://asc.fasb.org/subtopic&trid=2560295 + Details
Name: | us-gaap_LiabilityForFuturePolicyBenefitsAndUnpaidClaimsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration