XML 41 R30.htm IDEA: XBRL DOCUMENT v3.21.1

Loss and Loss Adjustment Expense Reserves (Tables)

3 Months Ended

Mar. 31, 2021

Insurance Loss Reserves [Abstract]

Schedule of Liability for Unpaid Claims and Claims Adjustment Expense

The following table summarizes the loss and LAE reserve activities of Ark’s insurance and reinsurance subsidiaries for the three months ended March 31, 2021:

Millions						Three Months Ended March 31, 2021
Gross beginning balance as of January 1, 2021						$	696.0
Less: beginning reinsurance recoverable on unpaid losses						(433.4)
Net loss and LAE reserves						262.6
Loss and LAE incurred relating to:
Current year losses						65.5
Prior year losses						.5
Total incurred losses and LAE						66.0
Foreign currency translation adjustment to loss and LAE reserves						.7
Loss and LAE paid relating to:
Current year losses						(5.2)
Prior year losses						(19.7)
Total loss and LAE payments						(24.9)
Net ending balance						304.4
Plus: ending reinsurance recoverable on unpaid losses						447.5
Gross ending balance as of March 31, 2021						$	751.9

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

Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=116884095&loc=d3e14764-158437

+ Details

Name:	us-gaap_ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration