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Loss and Loss Adjustment Expenses (Tables)
12 Months Ended
Dec. 31, 2015
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 2015, 2014 and 2013:

 

    Year Ended December 31,  
    2015     2014     2013  
    (in thousands)  

Balance, beginning of period

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

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

    59,334        48,699        55,190   
 

 

 

   

 

 

   

 

 

 

Net balance, beginning of period

    628,268        565,858        515,260   

Add incurred related to:

     

Current accident year

    262,387        268,633        241,584   

Prior accident years

    (47,814     (23,717     (12,611
 

 

 

   

 

 

   

 

 

 

Total incurred

    214,573        244,916        228,973   

Less paid related to:

     

Current accident year

    53,955        52,848        51,169   

Prior accident years

    135,711        129,658        127,206   
 

 

 

   

 

 

   

 

 

 

Total paid

    189,666        182,506        178,375   
 

 

 

   

 

 

   

 

 

 

Net balance, end of period

    653,175        628,268        565,858   

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

    64,858        59,334        48,699   
 

 

 

   

 

 

   

 

 

 

Balance, end of period

  $   718,033      $   687,602      $   614,557   
 

 

 

   

 

 

   

 

 

 
Summary Exposures to Various Asbestos Related Claims

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

 

    Year Ended December 31,  
    2015     2014     2013  
    (in thousands)  

Reserves for loss and LAE at beginning of year

  $ 819      $ 219      $ 167   

Incurred losses and LAE during the current year

    444        882        53   

Loss and LAE payments

    (305     (282     (1
 

 

 

   

 

 

   

 

 

 

Reserves for loss and LAE at end of year

  $         958      $         819      $         219