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Reserve for Losses and Loss Adjustment Expenses (Tables) | 6 Months Ended
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Jun. 30, 2018
Insurance [Abstract] |
Summary of reserve for losses and loss adjustment expenses | Activity in the reserve for losses and loss adjustment expenses is summarized as follows:
(In thousands) | Six Months Ended June 30, 2018 |  | Six Months Ended June 30, 2017 |  | Year Ended December 31, 2017
Balance, beginning of year | $ | 2,048,381 |  |  | $ | 1,993,428 |  |  | $ | 1,993,428 |
Less reinsurance recoverables on unpaid losses and loss adjustment expenses | 335,585 |  |  | 273,475 |  |  | 273,475 |
Net balance, beginning of year | 1,712,796 |  |  | 1,719,953 |  |  | 1,719,953 |
Net losses: |  |  |  |  |
Current year* | 337,116 |  |  | 292,489 |  |  | 603,518 |
Favorable development of reserves established in prior years, net | (45,601 | ) |  | (57,788 | ) |  | (134,360 | )
Total | 291,515 |  |  | 234,701 |  |  | 469,158 |
Paid related to: |  |  |  |  |
Current year | (34,174 | ) |  | (33,115 | ) |  | (106,633 | )
Prior years | (215,488 | ) |  | (210,006 | ) |  | (369,682 | )
Total paid | (249,662 | ) |  | (243,121 | ) |  | (476,315 | )
Net balance, end of period | 1,754,649 |  |  | 1,711,533 |  |  | 1,712,796 |
Plus reinsurance recoverables on unpaid losses and loss adjustment expenses | 324,168 |  |  | 280,332 |  |  | 335,585 |
Balance, end of period | $ | 2,078,817 |  |  | $ | 1,991,865 |  |  | $ | 2,048,381 |
* Current year net losses during the 2018 six-month period included incurred losses of $25.4 million related to a loss portfolio transfer entered into during the second quarter of 2018 (see Note 4).

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- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65670824&loc=d3e14764-158437 + Details
Name: | us-gaap_ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
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