Reserve for Loss and Loss Expense

3 Months Ended

Mar. 31, 2023

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.