XML 26 R15.htm IDEA: XBRL DOCUMENT
v3.23.1

Reserve for Loss and Loss Expense | 3 Months Ended
--- | ---
Mar. 31, 2023
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:
|  | Quarter ended March 31,
($ in thousands) |  | 2023 |  | 2022
Gross reserve for loss and loss expense, at beginning of period |  | $ | 5,144,821 |  |  | 4,580,903 |
Less: reinsurance recoverable on unpaid loss and loss expense, at beginning of period |  | 757,513 |  |  | 578,641 |
Net reserve for loss and loss expense, at beginning of period |  | 4,387,308 |  |  | 4,002,262 |
Incurred loss and loss expense for claims occurring in the: |  |  |  |
Current year |  | 580,408 |  |  | 508,299 |
Prior years |  | (12,970) |  |  | (14,063) |
Total incurred loss and loss expense |  | 567,438 |  |  | 494,236 |
Paid loss and loss expense for claims occurring in the: |  |  |  |
Current year |  | 91,011 |  |  | 91,292 |
Prior years |  | 418,194 |  |  | 312,926 |
Total paid loss and loss expense |  | 509,205 |  |  | 404,218 |
Net reserve for loss and loss expense, at end of period |  | 4,445,541 |  |  | 4,092,280 |
Add: Reinsurance recoverable on unpaid loss and loss expense, at end of period |  | 653,909 |  |  | 552,111 |
Gross reserve for loss and loss expense, at end of period |  | $ | 5,099,450 |  |  | 4,644,391 |
Prior year reserve development in First Quarter 2023 was favorable by $13.0 million, consisting of favorable casualty reserve development of $10.0 million in our workers compensation line of business and $5.0 million in our Excess and Surplus ("E&S") casualty lines of business, partially offset by $2.0 million of unfavorable casualty reserve development in our personal automobile line of business. Prior year reserve development in First Quarter 2022 was favorable by $14.1 million, consisting of $20.0 million of favorable casualty reserve development, partially offset by $5.9 million of unfavorable property reserve development. The favorable casualty reserve development included $10.0 million in our workers compensation line of business, $5.0 million in our general liability line of business, and $5.0 million in our bonds line 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 https://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