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Reserve for Loss and Loss Expense | 3 Months Ended
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Mar. 31, 2024
Insurance Loss Reserves [Abstract] |
Reserve for Loss and Loss Expense | Reserve for Loss and Loss Expense The table below provides a roll forward of the reserve for loss and loss expense for beginning and ending reserve balances:
|  | Quarter ended March 31,
($ in thousands) |  | 2024 |  | 2023
Gross reserve for loss and loss expense, at beginning of period |  | $ | 5,336,911 |  |  | 5,144,821 |
Less: reinsurance recoverable on unpaid loss and loss expense, at beginning of period |  | 618,601 |  |  | 757,513 |
Net reserve for loss and loss expense, at beginning of period |  | 4,718,310 |  |  | 4,387,308 |
Incurred loss and loss expense for claims occurring in the: |  |  |  |
Current year |  | 688,519 |  |  | 580,408 |
Prior years |  | 15,773 |  |  | (12,970) |
Total incurred loss and loss expense |  | 704,292 |  |  | 567,438 |
Paid loss and loss expense for claims occurring in the: |  |  |  |
Current year |  | 107,719 |  |  | 91,011 |
Prior years |  | 435,489 |  |  | 418,194 |
Total paid loss and loss expense |  | 543,208 |  |  | 509,205 |
Net reserve for loss and loss expense, at end of period |  | 4,879,394 |  |  | 4,445,541 |
Add: Reinsurance recoverable on unpaid loss and loss expense, at end of period |  | 622,356 |  |  | 653,909 |
Gross reserve for loss and loss expense, at end of period |  | $ | 5,501,750 |  |  | 5,099,450 |
Prior year reserve development in First Quarter 2024 was unfavorable by $15.8 million, consisting of $35.0 million of unfavorable casualty reserve development, partially offset by $19.2 million of favorable property reserve development. The unfavorable casualty reserve development was driven by our Standard Commercial Lines segment, which included (i) $50.0 million in our general liability line of business, primarily driven by increased severities in accident years 2020 through 2023, partially offset by (ii) $15.0 million of favorable casualty reserve development in our workers compensation line of business. Additionally, in our Standard Personal Lines segment, we had unfavorable casualty reserve development of $5.0 million in our personal automobile line of business, offset by favorable development of $5.0 million in our homeowners line of business. 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.

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- 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 -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//944-40/tableOfContent + Details
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