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Loss And Loss Adjustment Expense Reserves (Tables)

12 Months Ended

Dec. 31, 2022

Insurance Loss Reserves [Abstract]

Activity In The Reserves For Losses And Loss Adjustment Expenses

The following table presents the activity in loss and loss adjustment expense reserves:

			Year Ended December 31,
			2022						2021						2020
			(Amounts in thousands)
Gross reserves at January 1			$	2,226,430					$	1,991,304					$	1,921,255
Reinsurance recoverables on unpaid losses			(41,379)						(54,461)						(76,100)
Cumulative effect of adopting ASU 2016-13			—						—						149
Reinsurance recoverables on unpaid losses, as adjusted			(41,379)						(54,461)						(75,951)
Net reserves at January 1, as adjusted			2,185,051						1,936,843						1,845,304
Incurred losses and loss adjustment expenses related to:
Current year			3,314,938						2,786,246						2,372,364
Prior years			47,281						(26,091)						22,979
Total incurred losses and loss adjustment expenses			3,362,219						2,760,155						2,395,343
Loss and loss adjustment expense payments related to:
Current year			1,862,006						1,601,998						1,366,661
Prior years			1,125,677						909,949						937,143
Total payments			2,987,683						2,511,947						2,303,804
Net reserves at December 31			2,559,587						2,185,051						1,936,843
Reinsurance recoverables on unpaid losses			25,323						41,379						54,461
Gross reserves at December 31			$	2,584,910					$	2,226,430					$	1,991,304

Incurred and Paid Claims Development

The information about incurred and paid claims development for the years ended December 31, 2013 to 2021 is presented as unaudited supplementary information.

Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance (Automobile Insurance)																																																																		As of December 31, 2022
																																																																		Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims						Cumulative Number of Reported Claims
Accident Year						For the Years Ended December 31,
						2013(1)						2014(1)						2015(1)						2016(1)						2017(1)						2018(1)						2019(1)						2020(1)						2021(1)						2022
						(Amounts in thousands)																																																												(Amounts in thousands)
2013						$	1,448,567					$	1,431,058					$	1,447,881					$	1,458,421					$	1,464,071					$	1,468,294					$	1,468,237					$	1,468,747					$	1,468,679					$	1,468,976					$	805					185
2014												1,467,175						1,454,366						1,473,545						1,486,322						1,498,504						1,501,075						1,501,713						1,501,850						1,502,161						57						180
2015																		1,551,105						1,588,443						1,610,839						1,634,435						1,645,950						1,649,170						1,653,878						1,654,843						1,078						170
2016																								1,672,853						1,669,642						1,713,696						1,731,997						1,732,410						1,740,807						1,743,417						2,483						155
2017																														1,703,857						1,727,277						1,741,825						1,733,425						1,748,289						1,755,702						11,421						149
2018																																				1,781,817						1,773,502						1,785,071						1,806,240						1,807,297						15,370						147
2019																																										1,916,269						1,911,268						1,959,262						1,954,151						42,928						148
2020																																																1,514,551						1,448,083						1,452,343						76,899						90
2021																																																						1,811,064						1,879,751						206,875						104
2022																																																												2,255,032						642,129						109
																																																						Total						$	17,473,673

__________ 

(1) The information for the years 2013 to 2021 is presented as unaudited supplemental information.

Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance (Automobile Insurance)
						For the Years Ended December 31,
Accident Year						2013(1)						2014(1)						2015(1)						2016(1)						2017(1)						2018(1)						2019(1)						2020(1)						2021(1)						2022
						(Amounts in thousands)
2013						$	974,445					$	1,217,906					$	1,340,724					$	1,413,999					$	1,447,004					$	1,460,352					$	1,464,277					$	1,466,356					$	1,467,332					$	1,467,838
2014												967,481						1,231,413						1,358,472						1,432,472						1,476,944						1,490,366						1,496,814						1,500,243						1,501,483
2015																		1,040,253						1,336,223						1,466,368						1,560,480						1,614,188						1,634,780						1,643,443						1,651,465
2016																								1,094,006						1,395,199						1,554,217						1,656,192						1,699,069						1,722,293						1,736,697
2017																														1,076,079						1,399,202						1,561,850						1,648,328						1,701,298						1,733,196
2018																																				1,082,127						1,417,637						1,588,049						1,697,228						1,757,923
2019																																										1,134,859						1,494,342						1,698,121						1,828,410
2020																																																825,398						1,089,096						1,242,000
2021																																																						992,705						1,410,748
2022																																																												1,237,725
																																																						Total						$	15,567,485
																								All outstanding liabilities before 2013, net of reinsurance																																				(1,048)
																								Loss and allocated loss adjustment expense reserves, net of reinsurance																																				$	1,905,140

__________ 

(1) The information for the years 2013 to 2021 is presented as unaudited supplemental information.

Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance (Homeowners Insurance)																																																																		As of December 31, 2022
																																																																		Total of Incurred But Not Reported Liabilities Plus Expected Development on Reported Claims						Cumulative Number of Reported Claims
Accident Year						For the Years Ended December 31,
						2013(1)						2014(1)						2015(1)						2016(1)						2017(1)						2018(1)						2019(1)						2020(1)						2021(1)						2022
						(Amounts in thousands)																																																												(Amounts in thousands)
2013						$	191,903					$	188,915					$	188,026					$	186,795					$	187,165					$	188,014					$	187,147					$	187,683					$	187,627					$	187,465					$	95					23
2014												199,298						202,621						203,218						202,513						204,986						208,003						208,743						209,622						209,071						128						25
2015																		234,800						234,881						233,501						236,855						238,652						239,941						240,927						237,872						393						24
2016																								250,691						259,489						259,497						259,708						260,496						259,984						259,722						435						24
2017																														309,491						295,163						288,322						289,869						289,294						291,360						92						30
2018																																				311,798						308,361						310,695						305,292						306,347						1,192						25
2019																																										359,643						366,139						361,421						360,609						4,888						30
2020																																																420,257						411,404						413,882						7,838						29
2021																																																						510,724						511,311						22,449						31
2022																																																												578,489						135,547						27
																																																						Total						$	3,356,128

__________ 

(1) The information for the years 2013 to 2021 is presented as unaudited supplemental information.

Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance (Homeowners Insurance)
						For the Years Ended December 31,
Accident Year						2013(1)						2014(1)						2015(1)						2016(1)						2017(1)						2018(1)						2019(1)						2020(1)						2021(1)						2022
						(Amounts in thousands)
2013						$	133,528					$	174,295					$	180,858					$	183,860					$	185,168					$	186,132					$	186,494					$	186,816					$	187,141					$	187,222
2014												139,615						186,996						194,605						198,758						202,193						203,333						207,524						207,801						208,737
2015																		163,196						213,994						224,178						230,480						234,683						235,971						236,143						236,983
2016																								173,537						234,215						245,878						253,919						256,642						258,477						259,045
2017																														217,900						269,254						278,341						283,311						286,531						290,291
2018																																				213,038						271,534						286,658						294,099						300,742
2019																																										240,240						324,953						340,237						350,288
2020																																																271,208						365,910						386,297
2021																																																						316,314						458,124
2022																																																												339,242
																																																						Total						$	3,016,971
																								All outstanding liabilities before 2013, net of reinsurance																																				1,152
																								Loss and allocated loss adjustment expense reserves, net of reinsurance																																				$	340,309

__________ 

(1) The information for the years 2013 to 2021 is presented as unaudited supplemental information.

Schedule of Historical Claims Duration

The following is unaudited supplementary information about average historical claims duration as of December 31, 2022.

Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Years						1						2						3						4						5						6						7						8						9						10
Automobile insurance						60.0		%				18.3		%				9.2		%				5.6		%				2.9		%				1.2		%				0.5		%				0.3		%				0.1		%				—		%

Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Years						1						2						3						4						5						6						7						8						9						10
Homeowners insurance						67.0		%				22.2		%				4.1		%				2.3		%				1.4		%				0.7		%				0.6		%				0.2		%				0.3		%				—		%

Reconciliation of the Disclosure of Incurred and Paid Claims Development to the Loss and Loss Adjustment Expense Reserves

The reconciliation of the net incurred and paid claims development tables to the liability for claims and claim adjustment expenses in the consolidated balance sheets is as follows:

Reconciliation of the Disclosure of Incurred and Paid Claims Development

to the Loss and Loss Adjustment Expense Reserves

						December 31, 2022
						(Amounts in thousands)
Net outstanding liabilities
Automobile insurance						$	1,905,140
Homeowners insurance						340,309
Other short-duration insurance lines						175,448
Loss and loss adjustment expense reserves, net of reinsurance recoverables on unpaid losses						2,420,897
Reinsurance recoverables on unpaid losses
Automobile insurance						17,341
Homeowners insurance						6,952
Other short-duration insurance lines						1,030
Total reinsurance recoverables on unpaid losses						25,323
Insurance lines other than short-duration						1,077
Unallocated claims adjustment expenses						137,613
						138,690
Total gross loss and loss adjustment expense reserves						$	2,584,910

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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.

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Tabular disclosure of undiscounted information about claims development by accident year for short-duration insurance contracts.

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Tabular disclosure for the reconciliation of claims development to the liability for unpaid claims and claim adjustment expense for short-duration insurance contracts.

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Tabular disclosure of average annual percentage payout of incurred claims by age, after reinsurance, for short-duration insurance contracts.

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