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Loss and loss adjustment expense reserves (Tables)

12 Months Ended

Dec. 31, 2020

Loss and Loss Adjustment Expense Reserves [Abstract]

Schedule of loss and loss adjustment expense reserves

As of December 31, 2020 and 2019, loss and loss adjustment expense reserves in the consolidated balance sheets was comprised of the following:

			2020						2019
Case loss and loss adjustment expense reserves			$	265,619					$	148,166
Incurred but not reported loss and loss adjustment expense reserves			1,043,458						963,359
Deferred gains on retroactive reinsurance contracts			991						167
			$	1,310,068					$	1,111,692

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

The following table represents the activity in the loss and loss adjustment expense reserves for the years ended December 31, 2020, 2019 and 2018:

			2020						2019						2018
Gross reserves for loss and loss adjustment expenses, beginning of year			$	1,111,692					$	937,157					$	720,570
Less: loss and loss adjustment expenses recoverable, beginning of year			(5,520)						(2,031)						(1,113)
Less: deferred charges on retroactive reinsurance contracts			(6,738)						(3,847)						—
Net reserves for loss and loss adjustment expenses, beginning of year			1,099,434						931,279						719,457
Increase (decrease) in net loss and loss adjustment expenses incurred in respect of losses occurring in:
Current year			431,506						489,994						434,276
Prior years			33,792						(86,495)						4,138
Total incurred loss and loss adjustment expenses			465,298						403,499						438,414
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Current year			(73,550)						(63,638)						(85,173)
Prior years			(209,534)						(188,392)						(132,336)
Total net paid losses			(283,084)						(252,030)						(217,509)
Foreign currency translation			8,051						16,686						(9,083)
Net reserves for loss and loss adjustment expenses, end of year			1,289,699						1,099,434						931,279
Plus: loss and loss adjustment expenses recoverable, end of year			14,375						5,520						2,031
Plus: deferred charges on retroactive reinsurance contracts			5,994						6,738						3,847
Gross reserves for loss and loss adjustment expenses, end of year			$	1,310,068					$	1,111,692					$	937,157

Schedule of total loss and loss adjustment expenses incurred, net and net loss and loss adjustment expenses paid by accident years

The following tables provide a breakdown of the Company’s loss and loss adjustment expenses incurred, net and net loss and loss adjustment expenses paid by accident year by line of business for the Company’s prospective reinsurance contracts for the year ended December 31, 2020. The information related to loss and loss adjustment expenses incurred, net and net loss and loss adjustment expenses paid for the years ended December 31, 2012 through 2019 is presented as supplementary information and is unaudited:

Global A&H

Loss and loss adjustment expenses incurred, net
Accident year						2012						2013						2014						2015						2016						2017						2018						2019						2020						IBNR loss and LAE reserves, net
						<---------------------------------------------- Unaudited ---------------------------------------------->
2012						$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
2013						—						—						—						—						—						—						—						—						—						—
2014						—						—						—						—						—						—						—						—						—						—
2015						—						—						—						—						—						—						—						—						—						—
2016						—						—						—						—						—						—						—						—						—						—
2017						—						—						—						—						—						716						716						813						829						2
2018						—						—						—						—						—						—						2,624						2,982						3,039						7
2019						—						—						—						—						—						—						—						3,437						3,565						1,001
2020						—						—						—						—						—						—						—						—						3,153						2,671
Total																																																						$	10,586					$	3,681
Cumulative net losses and loss adjustment expenses paid
Accident year						2012						2013						2014						2015						2016						2017						2018						2019						2020
						<---------------------------------------------- Unaudited ---------------------------------------------->
2012						$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
2013						—						—						—						—						—						—						—						—						—
2014						—						—						—						—						—						—						—						—						—
2015						—						—						—						—						—						—						—						—						—
2016						—						—						—						—						—						—						—						—						—
2017						—						—						—						—						—						4						261						575						827
2018						—						—						—						—						—						—						957						2,109						3,032
2019						—						—						—						—						—						—						—						1,640						2,564
2020						—						—						—						—						—						—						—						—						482
Total																																																						$	6,905
Global A&H - net reserves for loss and loss adjustment expenses, end of year																																																						$	3,681

Marine & Energy

Loss and loss adjustment expenses incurred, net
Accident year						2012						2013						2014						2015						2016						2017						2018						2019						2020						IBNR loss and LAE reserves, net
						<---------------------------------------------- Unaudited ---------------------------------------------->
2012						$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
2013						—						—						—						—						—						—						—						—						—						—
2014						—						—						—						—						—						—						—						—						—						—
2015						—						—						—						—						—						—						—						—						—						—
2016						—						—						—						—						4,673						3,885						812						730						119						80
2017						—						—						—						—						—						3,932						2,829						3,212						3,478						525
2018						—						—						—						—						—						—						3,589						3,852						3,088						585
2019						—						—						—						—						—						—						—						3,967						4,250						2,839
2020						—						—						—						—						—						—						—						—						3,442						3,419
Total																																																						$	14,377					$	7,448
Cumulative net losses and loss adjustment expenses paid
Accident year						2012						2013						2014						2015						2016						2017						2018						2019						2020
						<---------------------------------------------- Unaudited ---------------------------------------------->
2012						$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
2013						—						—						—						—						—						—						—						—						—
2014						—						—						—						—						—						—						—						—						—
2015						—						—						—						—						—						—						—						—						—
2016						—						—						—						—						—						—						—						—						—
2017						—						—						—						—						—						—						—						—						126
2018						—						—						—						—						—						—						—						—						2,003
2019						—						—						—						—						—						—						—						—						153
2020						—						—						—						—						—						—						—						—						—
Total																																																						$	2,282
Marine & Energy - net reserves for loss and loss adjustment expenses, end of year																																																						$	12,095

Credit

Loss and loss adjustment expenses incurred, net
Accident year						2012						2013						2014						2015						2016						2017						2018						2019						2020						IBNR loss and LAE reserves, net
						<---------------------------------------------- Unaudited ---------------------------------------------->
2012						$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
2013						—						364						408						113						107						99						77						80						77						—
2014						—						—						5,844						2,657						2,430						2,204						1,384						1,454						1,341						—
2015						—						—						—						5,249						5,048						4,760						4,012						3,129						2,665						78
2016						—						—						—						—						10,750						10,732						10,825						6,564						6,752						1,247
2017						—						—						—						—						—						13,356						13,460						7,029						7,445						2,511
2018						—						—						—						—						—						—						17,415						10,661						12,035						4,947
2019						—						—						—						—						—						—						—						17,740						19,348						10,352
2020						—						—						—						—						—						—						—						—						22,803						9,402
Total																																																						$	72,466					$	28,537
Cumulative net losses and loss adjustment expenses paid
Accident year						2012						2013						2014						2015						2016						2017						2018						2019						2020
						<---------------------------------------------- Unaudited ---------------------------------------------->
2012						$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
2013						—						—						11						66						74						78						77						77						76
2014						—						—						42						784						1,038						1,318						1,322						1,344						1,310
2015						—						—						—						402						1,128						2,045						2,328						2,503						2,408
2016						—						—						—						—						1,013						2,326						3,419						4,197						4,213
2017						—						—						—						—						—						1,100						2,332						3,026						3,319
2018						—						—						—						—						—						—						897						2,716						3,989
2019						—						—						—						—						—						—						—						1,900						3,368
2020						—						—						—						—						—						—						—						—						8,230
Total																																																						$	26,913
Credit - net reserves for loss and loss adjustment expenses, end of year																																																						$	45,553

Casualty

Loss and loss adjustment expenses incurred, net
Accident year						2012						2013						2014						2015						2016						2017						2018						2019						2020						IBNR loss and LAE reserves, net
						<---------------------------------------------- Unaudited ---------------------------------------------->
2012						$	17,284					$	16,798					$	16,842					$	17,130					$	17,148					$	17,053					$	17,230					$	17,287					$	17,377					$	7
2013						—						48,279						48,606						52,837						52,787						52,735						52,601						52,230						52,450						486
2014						—						—						167,001						174,182						174,714						168,861						168,102						167,237						170,052						11,237
2015						—						—						—						189,321						199,697						183,964						186,499						195,821						195,369						23,674
2016						—						—						—						—						206,074						202,618						205,252						208,768						215,964						48,630
2017						—						—						—						—						—						181,109						186,073						186,623						197,100						73,252
2018						—						—						—						—						—						—						196,161						195,043						203,571						99,702
2019						—						—						—						—						—						—						—						148,962						160,409						94,732
2020						—						—						—						—						—						—						—						—						123,722						101,140
Total																																																						$	1,336,014					$	452,860
Cumulative net losses and loss adjustment expenses paid
Accident year						2012						2013						2014						2015						2016						2017						2018						2019						2020
						<---------------------------------------------- Unaudited ---------------------------------------------->
2012						$	5,713					$	10,613					$	14,404					$	15,730					$	16,351					$	16,114					$	16,458					$	16,695					$	17,038
2013						—						11,260						26,386						35,526						41,892						46,319						48,545						49,855						50,281
2014						—						—						49,855						113,933						127,284						134,658						140,576						143,441						145,293
2015						—						—						—						45,434						95,143						112,164						126,400						134,143						141,579
2016						—						—						—						—						42,665						96,910						114,312						127,468						137,822
2017						—						—						—						—						—						29,550						63,183						78,105						97,029
2018						—						—						—						—						—						—						25,181						55,558						78,508
2019						—						—						—						—						—						—						—						16,826						42,471
2020						—						—						—						—						—						—						—						—						9,980
Total																																																						$	720,001
Casualty - net reserves for loss and loss adjustment expenses, end of year																																																						$	616,013

Other Specialty

Loss and loss adjustment expenses incurred, net
Accident year						2012						2013						2014						2015						2016						2017						2018						2019						2020						IBNR loss and LAE reserves, net
						<---------------------------------------------- Unaudited ---------------------------------------------->
2012						$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
2013						—						2,317						4,272						4,564						4,564						4,564						4,564						4,564						4,564						—
2014						—						—						27,671						20,272						24,214						19,570						21,346						21,355						21,355						174
2015						—						—						—						61,160						84,198						81,934						81,186						81,320						81,312						525
2016						—						—						—						—						91,574						92,759						90,648						91,332						91,409						259
2017						—						—						—						—						—						80,058						85,255						86,544						86,900						1,754
2018						—						—						—						—						—						—						88,621						100,329						97,627						28,803
2019						—						—						—						—						—						—						—						134,382						152,307						86,385
2020						—						—						—						—						—						—						—						—						136,121						101,140
Total																																																						$	671,595					$	219,040
Cumulative net losses and loss adjustment expenses paid
Accident year						2012						2013						2014						2015						2016						2017						2018						2019						2020
						<---------------------------------------------- Unaudited ---------------------------------------------->
2012						$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
2013						—						—						1,243						4,563						4,563						4,563						4,563						4,563						4,563
2014						—						—						1,221						14,304						20,921						19,034						20,792						21,082						21,139
2015						—						—						—						30,999						66,086						74,904						77,815						79,727						80,301
2016						—						—						—						—						30,997						77,062						85,422						88,842						90,256
2017						—						—						—						—						—						54,370						75,379						81,290						84,079
2018						—						—						—						—						—						—						31,096						48,967						55,655
2019						—						—						—						—						—						—						—						19,930						49,036
2020						—						—						—						—						—						—						—						—						23,148
Total																																																						$	408,177
Other Specialty - net reserves for loss and loss adjustment expenses, end of year																																																						$	263,418

Property Catastrophe Excess Reinsurance

Loss and loss adjustment expenses incurred, net
Accident year						2012						2013						2014						2015						2016						2017						2018						2019						2020						IBNR loss and LAE reserves, net
						<---------------------------------------------- Unaudited ---------------------------------------------->
2012						$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
2013						—						—						—						—						—						—						—						—						—						—
2014						—						—						—						—						—						—						—						—						—						—
2015						—						—						—						—						—						—						—						—						—						—
2016						—						—						—						—						—						—						—						—						—						—
2017						—						—						—						—						—						—						—						—						—						—
2018						—						—						—						—						—						—						—						—						—						—
2019						—						—						—						—						—						—						—						39,582						39,250						11,000
2020						—						—						—						—						—						—						—						—						59,245						44,628
Total																																																						$	98,495					$	55,628
Cumulative net losses and loss adjustment expenses paid
Accident year						2012						2013						2014						2015						2016						2017						2018						2019						2020
						<---------------------------------------------- Unaudited ---------------------------------------------->
2012						$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
2013						—						—						—						—						—						—						—						—						—
2014						—						—						—						—						—						—						—						—						—
2015						—						—						—						—						—						—						—						—						—
2016						—						—						—						—						—						—						—						—						—
2017						—						—						—						—						—						—						—						—						—
2018						—						—						—						—						—						—						—						—						—
2019						—						—						—						—						—						—						—						470						15,326
2020						—						—						—						—						—						—						—						—						7,321
Total																																																						$	22,647
Property Catastrophe Excess Reinsurance - net reserves for loss and loss adjustment expenses, end of year																																																						$	75,848

Property Risk and Pro Rata

Loss and loss adjustment expenses incurred, net
Accident year						2012						2013						2014						2015						2016						2017						2018						2019						2020						IBNR loss and LAE reserves, net
						<---------------------------------------------- Unaudited ---------------------------------------------->
2012						$	10,917					$	8,672					$	9,375					$	9,353					$	9,416					$	9,472					$	9,501					$	9,490					$	9,484					$	2
2013						—						27,765						24,980						25,766						25,882						25,785						26,170						26,051						26,378						232
2014						—						—						40,256						40,920						41,336						44,627						46,500						46,303						46,719						576
2015						—						—						—						50,330						52,533						54,635						56,313						56,201						56,583						902
2016						—						—						—						—						45,415						43,038						43,799						43,733						43,810						1,108
2017						—						—						—						—						—						41,237						41,833						41,753						41,926						1,576
2018						—						—						—						—						—						—						54,084						52,344						52,650						5,797
2019						—						—						—						—						—						—						—						53,597						53,713						7,096
2020						—						—						—						—						—						—						—						—						59,159						29,199
Total																																																						$	390,422					$	46,488
Cumulative net losses and loss adjustment expenses paid
Accident year						2012						2013						2014						2015						2016						2017						2018						2019						2020
						<---------------------------------------------- Unaudited ---------------------------------------------->
2012						$	4,656					$	8,381					$	9,075					$	9,186					$	9,352					$	9,400					$	9,482					$	9,483					$	9,482
2013						—						14,635						22,229						24,023						25,167						25,406						25,815						25,993						26,127
2014						—						—						19,420						34,381						38,448						42,775						44,533						45,312						45,937
2015						—						—						—						22,706						43,382						48,360						51,783						53,924						55,066
2016						—						—						—						—						21,593						31,871						37,044						39,651						41,872
2017						—						—						—						—						—						24,713						33,436						37,171						39,282
2018						—						—						—						—						—						—						26,458						35,169						45,146
2019						—						—						—						—						—						—						—						22,624						43,542
2020						—						—						—						—						—						—						—						—						24,454
Total																																																						$	330,908
Property Risk and Pro Rata - net reserves for loss and loss adjustment expenses, end of year																																																						$	59,514

Agriculture

Loss and loss adjustment expenses incurred, net
Accident year						2012						2013						2014						2015						2016						2017						2018						2019						2020						IBNR loss and LAE reserves, net
						<---------------------------------------------- Unaudited ---------------------------------------------->
2012						$	52,105					$	49,942					$	50,055					$	50,055					$	50,065					$	50,104					$	50,104					$	50,104					$	50,104					$	1
2013						—						23,273						24,274						23,450						23,138						23,135						23,138						23,125						23,128						1
2014						—						—						—						—						—						—						—						—						—						—
2015						—						—						—						—						—						—						—						—						—						—
2016						—						—						—						—						—						—						—						—						—						—
2017						—						—						—						—						—						—						—						—						—						—
2018						—						—						—						—						—						—						—						—						—						—
2019						—						—						—						—						—						—						—						—						—						—
2020						—						—						—						—						—						—						—						—						—						—
Total																																																						$	73,232					$	2
Cumulative net losses and loss adjustment expenses paid
Accident year						2012						2013						2014						2015						2016						2017						2018						2019						2020
						<---------------------------------------------- Unaudited ---------------------------------------------->
2012						$	2,666					$	48,455					$	50,024					$	50,025					$	50,067					$	50,103					$	50,103					$	50,103					$	50,103
2013						—						—						22,232						23,138						23,134						23,135						23,137						23,127						23,127
2014						—						—						—						—						—						—						—						—						—
2015						—						—						—						—						—						—						—						—						—
2016						—						—						—						—						—						—						—						—						—
2017						—						—						—						—						—						—						—						—						—
2018						—						—						—						—						—						—						—						—						—
2019						—						—						—						—						—						—						—						—						—
2020						—						—						—						—						—						—						—						—						—
Total																																																						$	73,230
Agriculture - net reserves for loss and loss adjustment expenses, end of year																																																						$	2

Other

Loss and loss adjustment expenses incurred, net
Accident year						2012						2013						2014						2015						2016						2017						2018						2019						2020						IBNR loss and LAE reserves, net
						<---------------------------------------------- Unaudited ---------------------------------------------->
2012						$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
2013						—						—						—						—						—						—						—						—						—						—
2014						—						—						—						—						—						—						—						—						—						—
2015						—						—						—						—						—						—						—						—						—						—
2016						—						—						—						—						—						—						—						—						—						—
2017						—						—						—						—						—						—						—						—						—						—
2018						—						—						—						—						—						—						—						—						—						—
2019						—						—						—						—						—						—						—						—						—						—
2020						—						—						—						—						—						—						—						—						2,863						2,863
Total																																																						$	2,863					$	2,863
Cumulative net losses and loss adjustment expenses paid
Accident year						2012						2013						2014						2015						2016						2017						2018						2019						2020
						<---------------------------------------------- Unaudited ---------------------------------------------->
2012						$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
2013						—						—						—						—						—						—						—						—						—
2014						—						—						—						—						—						—						—						—						—
2015						—						—						—						—						—						—						—						—						—
2016						—						—						—						—						—						—						—						—						—
2017						—						—						—						—						—						—						—						—						—
2018						—						—						—						—						—						—						—						—						—
2019						—						—						—						—						—						—						—						—						—
2020						—						—						—						—						—						—						—						—						—
Total																																																						$	—
Other - net reserves for loss and loss adjustment expenses, end of year																																																						$	2,863

Property and Casualty Reinsurance - Retroactive Reinsurance Contracts

The Company writes reinsurance contracts that provide limited protection against adverse development on loss originating from multiple accident years. The Company has other retroactive exposure within contracts that provide primarily prospective coverage. These contracts are included in the prospective reinsurance tables above. These contracts are typically part of prospective reinsurance contracts with a small portion of retroactive exposure resulting from the delay between the dates when the relevant contract was bound and the dates on which each incepted. The information below includes loss and loss adjustment expenses incurred, net and loss and loss adjustment expenses paid, net, by accident year for the Company's retroactive reinsurance contracts presented by year of inception of the retroactive reinsurance contracts.

The Company's estimate for loss and loss adjustment expenses incurred, net, at inception of all retroactive reinsurance contracts entered into to date was the same when the contract incepted and at the relevant year end position. As a result, there was no development in the year of inception for any of the Company's retroactive reinsurance contracts written to date. In addition, there were no loss and loss adjustment expenses paid, net, at inception of the Company's retroactive reinsurance contracts. The information related to loss and loss adjustment expenses incurred, net and net loss and loss adjustment expenses paid for the years ended December 31, 2012 through 2019 is presented as supplementary information and is unaudited.

Retroactive contracts incepting in the year ended December 31, 2012

The Company did not enter into any retroactive reinsurance contracts during the year ended December 31, 2012.

Retroactive contracts incepting in the year ended December 31, 2013

Loss and loss adjustment expenses incurred, net
Accident year						2013						2014						2015						2016						2017						2018						2019						2020						IBNR loss and LAE reserves, net
																																																												<---------------------------------------- Unaudited --------------------------------------------------->
2011						$	5,419					$	4,173					$	4,173					$	4,173					$	4,173					$	4,173					$	4,173					$	4,173					$	—
2012						10,197						7,853						7,853						7,853						7,853						7,853						7,853						7,853						—
2013						4,908						3,779						3,779						3,779						3,779						3,779						3,779						3,779						—
2014						—						—						—						—						—						—						—						—						—
2015						—						—						—						—						—						—						—						—						—
2016						—						—						—						—						—						—						—						—						—
2017						—						—						—						—						—						—						—						—						—
2018						—						—						—						—						—						—						—						—						—
2019						—						—						—						—						—						—						—						—						—
2020						—						—						—						—						—						—						—						—						—
Total																																																$	15,805					$	—
Cumulative net loss and loss adjustment expenses paid
Accident year						2013						2014						2015						2016						2017						2018						2019						2020
						<---------------------------------------- Unaudited --------------------------------------------------->
2011						$	—					$	1,654					$	4,173					$	4,173					$	4,173					$	4,173					$	4,173					$	4,173
2012						—						3,113						7,853						7,853						7,853						7,853						7,853						7,853
2013						—						1,498						3,779						3,779						3,779						3,779						3,779						3,779
2014						—						—						—						—						—						—						—						—
2015						—						—						—						—						—						—						—						—
2016						—						—						—						—						—						—						—						—
2017						—						—						—						—						—						—						—						—
2018						—						—						—						—						—						—						—						—
2019						—						—						—						—						—						—						—						—
2020						—						—						—						—						—						—						—						—
Total																																																$	15,805
Net reserves for loss and loss adjustment expenses from 2011 to 2020																																																—
Net reserves for loss and loss adjustment expenses prior to 2011																																																—
Retroactive contracts incepting in the year ended December 31, 2013 - net reserves for loss and loss adjustment expenses, end of year																																																$	—

Retroactive contracts incepting in the year ended December 31, 2014

Loss and loss adjustment expenses incurred, net
Accident year						2014						2015						2016						2017						2018						2019						2020						IBNR loss and LAE reserves, net
																																																						<---------------------------------------- Unaudited ----------------------------------->
2011						$	4,293					$	3,498					$	3,090					$	3,274					$	2,895					$	1,529					$	1,529					$	—
2012						12,343						10,930						9,655						10,230						9,045						4,778						4,778						—
2013						19,174						17,142						15,143						16,045						14,185						7,493						7,493						—
2014						10,851						9,711						8,578						9,089						8,035						4,245						4,245						—
2015						—						—						—						—						—						—						—						—
2016						—						—						—						—						—						—						—						—
2017						—						—						—						—						—						—						—						—
2018						—						—						—						—						—						—						—						—
2019						—						—						—						—						—						—						—						—
2020						—						—						—						—						—						—						—						—
Total																																										$	18,045					$	—
Cumulative net loss and loss adjustment expenses paid
Accident year						2014						2015						2016						2017						2018						2019						2020
						<---------------------------------------- Unaudited ----------------------------------->
2011						$	—					$	—					$	—					$	—					$	—					$	—					$	1,529
2012						—						—						—						—						—						—						4,778
2013						—						—						—						—						—						—						7,493
2014						—						—						—						—						—						—						4,245
2015						—						—						—						—						—						—						—
2016						—						—						—						—						—						—						—
2017						—						—						—						—						—						—						—
2018						—						—						—						—						—						—						—
2019						—						—						—						—						—						—						—
2020						—						—						—						—						—						—						—
Total																																										$	18,045
Net reserves for loss and loss adjustment expenses from 2011 to 2020																																										—
Net reserves for loss and loss adjustment expenses prior to 2011																																										—
Retroactive contracts incepting in the year ended December 31, 2014 - net reserves for loss and loss adjustment expenses, end of year																																										$	—

Retroactive contracts incepting in the year ended December 31, 2015

Loss and loss adjustment expenses incurred, net
Accident year						2015						2016						2017						2018						2019						2020						IBNR loss and LAE reserves, net
																																																<-------------------------------- Unaudited --------------------------->
2011						$	10,433					$	10,433					$	7,913					$	7,527					$	4,509					$	3,108					$	3,108
2012						15,400						15,400						11,820						11,482						6,817						4,480						4,480
2013						18,995						18,995						14,600						14,216						8,432						5,510						5,510
2014						41,992						41,992						32,545						32,143						18,953						11,971						11,971
2015						2,596						2,596						1,788						1,395						913						913						913
2016						—						—						—						—						—						—						—
2017						—						—						—						—						—						—						—
2018						—						—						—						—						—						—						—
2019						—						—						—						—						—						—						—
2020						—						—						—						—						—						—						—
Total																																				$	25,982					$	25,982
Cumulative net loss and loss adjustment expenses paid
Accident year						2015						2016						2017						2018						2019						2020
						<-------------------------------- Unaudited --------------------------->
2011						$	—					$	—					$	—					$	—					$	—					$	—
2012						—						—						—						—						—						—
2013						—						—						—						—						—						—
2014						—						—						—						—						—						—
2015						—						—						—						—						—						—
2016						—						—						—						—						—						—
2017						—						—						—						—						—						—
2018						—						—						—						—						—						—
2019						—						—						—						—						—						—
2020						—						—						—						—						—						—
Total																																				$	—
Net reserves for loss and loss adjustment expenses from 2011 to 2020																																				25,982
Net reserves for loss and loss adjustment expenses prior to 2011																																				3,454
Retroactive contracts incepting in the year ended December 31, 2015 - net reserves for loss and loss adjustment expenses, end of year																																				$	29,436

Retroactive contracts incepting in the year ended December 31, 2016

The Company did not enter into any retroactive reinsurance contracts during the year ended December 31, 2016.

Retroactive contracts incepting in the year ended December 31, 2017

Loss and loss adjustment expenses incurred, net
Accident year						2017						2018						2019						2020						IBNR loss and LAE reserves, net
																																							<-------------- Unaudited -------------->
2011						$	1,693					$	1,612					$	966					$	871					$	871
2012						2,248						2,174						1,295						1,158						1,158
2013						3,460						3,365						2,000						1,783						1,783
2014						9,894						9,765						5,768						5,101						5,101
2015						13,002						12,805						7,570						6,703						6,703
2016						24,643						24,408						14,397						12,708						12,708
2017						50,570						50,588						29,719						26,090						26,090
2018						—						—						—						—						—
2019						—						—						—						—						—
2020						—						—						—						—						—
Total																								$	54,414					$	54,414
Cumulative net loss and loss adjustment expenses paid
Accident year						2017						2018						2019						2020
						<-------------- Unaudited -------------->
2011						$	—					$	—					$	—					$	—
2012						—						—						—						—
2013						—						—						—						—
2014						—						—						—						—
2015						—						—						—						—
2016						—						—						—						—
2017						—						—						—						—
2018						—						—						—						—
2019						—						—						—						—
2020						—						—						—						—
Total																								$	—
Net reserves for loss and loss adjustment expenses from 2011 to 2020																								54,414
Net reserves for loss and loss adjustment expenses prior to 2011																								485
Retroactive contracts incepting in the year ended December 31, 2017 - net reserves for loss and loss adjustment expenses, end of year																								$	54,899

Retroactive contracts incepting in the year ended December 31, 2018

Loss and loss adjustment expenses incurred, net
Accident year						2018						2019						2020						IBNR loss and LAE reserves, net
																																	<------ Unaudited ------>
2011						$	200					$	132					$	132					$	129
2012						452						376						376						102
2013						2,300						2,072						2,072						148
2014						6,000						5,466						5,466						241
2015						13,184						12,092						12,092						330
2016						20,093						18,488						18,488						364
2017						17,847						16,439						16,439						280
2018						15,396						14,240						14,240						101
2019						—						—						—						—
2020						—						—						—						—
Total																		$	69,305					$	1,695
Cumulative net loss and loss adjustment expenses paid
Accident year						2018						2019						2020
						<------ Unaudited ------>
2011						$	—					$	3					$	3
2012						—						274						274
2013						—						1,924						1,924
2014						—						5,225						5,225
2015						—						11,762						11,762
2016						—						18,124						18,124
2017						—						16,159						16,159
2018						—						14,139						14,139
2019						—						—						—
2020						—						—						—
Total																		$	67,610
Net reserves for loss and loss adjustment expenses from 2011 to 2020																		1,695
Net reserves for loss and loss adjustment expenses prior to 2011																		348
Retroactive contracts incepting in the year ended December 31, 2018 - net reserves for loss and loss adjustment expenses, end of year																		$	2,043

Retroactive contracts incepting in the year ended December 31, 2019

Loss and loss adjustment expenses incurred, net
Accident year						2019						2020						IBNR loss and LAE reserves, net
																											Unaudited
2011						$	2,064					$	2,218					$	2,218
2012						1,211						1,286						1,286
2013						1,983						2,152						2,152
2014						4,328						4,750						4,750
2015						6,197						6,815						6,815
2016						10,858						12,106						12,106
2017						12,908						14,309						14,309
2018						16,769						18,544						18,544
2019						35,527						39,913						39,913
2020						—						—						—
Total												$	102,093					$	102,093
Cumulative net loss and loss adjustment expenses paid
Accident year						2019						2020
						Unaudited
2011						$	—					$	—
2012						—						—
2013						—						—
2014						—						—
2015						—						—
2016						—						—
2017						—						—
2018						—						—
2019						—						—
2020						—						—
Total												$	—
Net reserves for loss and loss adjustment expenses from 2011 to 2020												102,093
Net reserves for loss and loss adjustment expenses prior to 2011												2,553
Retroactive contracts incepting in the year ended December 31, 2019 - net reserves for loss and loss adjustment expenses, end of year												$	104,646

Retroactive contracts incepting in the year ended December 31, 2020

Loss and loss adjustment expenses incurred, net
Accident year						2020						IBNR loss and LAE reserves, net
															2011						$	184					$	184
2012						177						177
2013						255						255
2014						630						630
2015						811						811
2016						2,089						2,090
2017						2,319						2,319
2018						2,336						2,336
2019						3,337						3,337
2020						7,540						7,541
Total						$	19,678					$	19,680
Cumulative net loss and loss adjustment expenses paid
Accident year						2020
2011						$	—
2012						—
2013						—
2014						—
2015						—
2016						—
2017						—
2018						—
2019						—
2020						—
Total						$	—
Net reserves for loss and loss adjustment expenses from 2011 to 2020						19,678
Net reserves for loss and loss adjustment expenses prior to 2011						10
Retroactive contracts incepting in the year ended December 31, 2020 - net reserves for loss and loss adjustment expenses, end of year						$	19,688

Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability

The following table provides a reconciliation of the Company's loss and loss expense reserves as of December 31, 2020:

			2020
Prospective reinsurance contracts
Global A&H			$	3,681
Marine & Energy			12,095
Credit			45,553
Casualty			616,013
Other Specialty			263,418
Property Catastrophe Excess Reinsurance			75,848
Property Risk and Pro Rata			59,514
Agriculture			2
Other			2,863
Retroactive reinsurance contracts
Retroactive contracts incepting in the year ended December 31, 2012			—
Retroactive contracts incepting in the year ended December 31, 2013			—
Retroactive contracts incepting in the year ended December 31, 2014			—
Retroactive contracts incepting in the year ended December 31, 2015			29,436
Retroactive contracts incepting in the year ended December 31, 2016			—
Retroactive contracts incepting in the year ended December 31, 2017			54,899
Retroactive contracts incepting in the year ended December 31, 2018			2,043
Retroactive contracts incepting in the year ended December 31, 2019			104,646
Retroactive contracts incepting in the year ended December 31, 2020			19,688
Net reserves for loss and loss adjustment expenses, end of year			1,289,699
Loss and loss adjustment expenses recoverable
Global A&H			—
Marine & Energy			—
Credit			2,373
Casualty			8,982
Other Specialty			—
Property Catastrophe Excess Reinsurance			218
Property Risk and Pro Rata			2,801
Agriculture			1
Other			—
Total loss and loss adjustment expenses recoverable			14,375
Deferred charges on retroactive reinsurance contracts			5,994
Gross reserves for loss and loss adjustment expenses, end of year			$	1,310,068

Schedule of percentage annual payout on losses

The following table is presented as supplementary information and presents the Company’s historical average annual percentage payout of loss and loss adjustment expenses incurred, net by age, as of December 31, 2020:

			Year 1						Year 2						Year 3						Year 4						Year 5						Year 6						Year 7						Year 8						Year 9
			(Unaudited)
Prospective reinsurance contracts
Global A&H			23.3		%				31.6		%				34.1		%				30.4		%				—		%				—		%				—		%				—		%				—		%
Marine & Energy			—		%				0.9		%				21.6		%				1.8		%				—		%				—		%				—		%				—		%				—		%
Credit			12.7		%				22.2		%				26.9		%				11.6		%				3.1		%				(1.1)		%				(1.4)		%				(1.5)		%				—		%
Casualty			19.2		%				24.2		%				11.8		%				7.8		%				4.9		%				2.1		%				1.9		%				1.1		%				2.0		%
Other Specialty			25.3		%				34.8		%				22.9		%				0.3		%				3.0		%				0.7		%				0.1		%				—		%				—		%
Property Catastrophe Excess Reinsurance			6.8		%				37.8		%				—		%				—		%				—		%				—		%				—		%				—		%				—		%
Property Risk and Pro Rata			47.6		%				29.5		%				10.2		%				5.3		%				3.1		%				1.4		%				1.0		%				0.3		%				—		%
Agriculture			2.7		%				93.8		%				3.5		%				—		%				—		%				—		%				—		%				—		%				—		%
Other			—		%				—		%				—		%				—		%				—		%				—		%				—		%				—		%				—		%
Retroactive reinsurance contracts
Retroactive contracts incepting in the year ended December 31, 2012			n/a						n/a						n/a						n/a						n/a						n/a						n/a						n/a						n/a
Retroactive contracts incepting in the year ended December 31, 2013			4.4		%				23.7		%				31.4		%				4.6		%				3.4		%				2.6		%				3.3		%				—		%				n/a
Retroactive contracts incepting in the year ended December 31, 2014			—		%				—		%				—		%				—		%				—		%				—		%				—		%				n/a						n/a
Retroactive contracts incepting in the year ended December 31, 2015			—		%				—		%				—		%				—		%				—		%				—		%				n/a						n/a						n/a
Retroactive contracts incepting in the year ended December 31, 2016			n/a						n/a						n/a						n/a						n/a						n/a						n/a						n/a						n/a
Retroactive contracts incepting in the year ended December 31, 2017			—		%				—		%				—		%				—		%				n/a						n/a						n/a						n/a						n/a
Retroactive contracts incepting in the year ended December 31, 2018			—		%				97.1		%				—		%				n/a						n/a						n/a						n/a						n/a						n/a
Retroactive contracts incepting in the year ended December 31, 2019			—		%				—		%				n/a						n/a						n/a						n/a						n/a						n/a						n/a
Retroactive contracts incepting in the year ended December 31, 2020			—		%				n/a						n/a						n/a						n/a						n/a						n/a						n/a						n/a

X

- Definition

Tabular disclosure of the components of loss and loss adjustment expense reserves (gross) including IBNR and case reserves.

+ References

No definition available.

+ Details

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Namespace Prefix:	spnt_
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X

- Definition

Loss and Loss Adjustment Expense Reserves [Abstract]

+ References

No definition available.

+ Details

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Namespace Prefix:	spnt_
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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

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X

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=116884468&loc=SL65671311-158438

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X

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=116884468&loc=SL65671315-158438

+ Details

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Data Type:	nonnum:textBlockItemType
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X

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 50
-Paragraph 4G
-URI http://asc.fasb.org/extlink&oid=116884468&loc=SL65671329-158438

+ Details

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