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Loss and Loss Adjustment Expenses (Tables)
12 Months Ended
Dec. 31, 2014
Insurance [Abstract]  
Reconciliation of Beginning and Ending Reserve Balances, Net of Related Amounts Recoverable from Reinsurers

The following table provides a reconciliation of the beginning and ending reserve balances, net of related amounts recoverable from reinsurers, for 2014, 2013 and 2012:

 

  Year Ended December 31,
2014 2013 2012
  (in thousands)

Balance, beginning of period

 $ 614,557     $ 570,450     $ 538,214   

Less amounts recoverable from reinsurers on unpaid loss and loss adjustment expenses

  48,699      55,190      60,937   
 

 

 

 

 

 

 

 

 

 

 

 

Net balance, beginning of period

  565,858      515,260      477,277   

Add incurred related to:

Current accident year

  268,633      241,584      222,393   

Prior accident years

  (23,717   (12,611   (2,490
 

 

 

 

 

 

 

 

 

 

 

 

Total incurred

  244,916      228,973      219,903   

Less paid related to:

Current accident year

  52,848      51,169      50,423   

Prior accident years

  129,658      127,206      131,497   
 

 

 

 

 

 

 

 

 

 

 

 

Total paid

  182,506      178,375      181,920   
 

 

 

 

 

 

 

 

 

 

 

 

Net balance, end of period

  628,268      565,858      515,260   

Add amounts recoverable from reinsurers on unpaid loss and loss adjustment expenses

  59,334      48,699      55,190   
 

 

 

 

 

 

 

 

 

 

 

 

Balance, end of period

 $   687,602     $   614,557     $   570,450   
 

 

 

 

 

 

 

 

 

 

 

 


Summary Exposures to Various Asbestos Related Claims

The following table details our exposures to various asbestos related claims:

 

  Year Ended December 31,
        2014                 2013                 2012        
  (in thousands)

Reserves for loss and LAE at beginning of year

 $     219     $     167     $ —    

Incurred losses and LAE during the current year

  882      53      168   

Loss and LAE payments

  (282   (1   (1
 

 

 

 

 

 

 

 

 

 

 

 

Reserves for loss and LAE at end of year

 $ 819     $ 219     $     167