Loss and loss adjustment expense reserves (Tables)

9 Months Ended

Sep. 30, 2014

Loss and Loss Adjustment Expense Reserves [Abstract]

Schedule of loss and loss adjustment expense reserves

As of September 30, 2014 and December 31, 2013, loss and loss adjustment expense reserves in the condensed consolidated balance sheets was comprised of the following:



	September 30, 2014		December 31, 2013
	($ in thousands)
Case loss and loss adjustment expense reserves	$	50,868	$	34,307
Incurred but not reported loss and loss adjustment expense reserves	136,445		100,024
	$	187,313	$	134,331

Schedule of activity in the reserve for losses and loss adjustment expenses

The following table represents the activity in the reserve for losses and loss adjustment expenses for the nine months ended September 30, 2014 and 2013:



	September 30, 2014			September 30, 2013
	($ in thousands)
Gross reserves for loss and loss adjustment expenses, beginning of period	$	134,331		$	67,271
Less: loss and loss adjustment expenses recoverable, beginning of period	(9,277		)	—
Net reserves for loss and loss adjustment expenses, beginning of period	125,054			67,271
Increase (decrease) in net loss and loss adjustment expenses incurred in respect of losses occurring in:
Current year	149,325			107,279
Prior years'	1,458			(3,600		)
Total incurred loss and loss adjustment expenses	150,783			103,679
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Current year	(41,538		)	(14,951		)
Prior years'	(48,398		)	(18,576		)
Total net paid losses	(89,936		)	(33,527		)
Net reserve for loss and loss adjustment expenses, end of period	185,901			137,423
Plus: loss and loss adjustment expenses recoverable, end of period	1,412			6,284
Gross reserve for loss and loss adjustment expenses, end of period	$	187,313		$	143,707