Liability for Unpaid Losses and Loss Adjustment Expenses

6 Months Ended

Jun. 30, 2017

6. Liability for Unpaid Losses and Loss Adjustment Expenses

Set forth in the following table is the change in liability for unpaid losses and LAE for the periods presented (in thousands):

	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2017		2016			2017			2016
Balance at beginning of period	$	31,463	$	84,975		$	58,494		$	98,840
Less: Reinsurance (recoverable) payable		2,353		(7,709	)		(106	)		(13,540	)
Net balance at beginning of period		33,816		77,266			58,388			85,300
Incurred (recovered) related to:
Current year		79,075		60,084			149,549			126,185
Prior years		1,109		(1	)		1,205			15
Total incurred		80,184		60,083			150,754			126,200
Paid related to:
Current year		62,141		54,041			85,031			72,659
Prior years		30,607		26,122			102,859			81,655
Total paid		92,748		80,163			187,890			154,314
Net balance at end of period		21,252		57,186			21,252			57,186
Plus: Reinsurance recoverable		1,393		2,958			1,393			2,958
Balance at end of period	$	22,645	$	60,144		$	22,645		$	60,144