Liability for Unpaid Losses and Loss Adjustment Expenses

9 Months Ended

Sep. 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						Nine Months Ended
	September 30,						September 30,
	2017			2016			2017			2016
Balance at beginning of period	$	22,645		$	60,144		$	58,494		$	98,840
Less: Reinsurance recoverable		(1,393	)		(2,958	)		(106	)		(13,540	)
Net balance at beginning of period		21,252			57,186			58,388			85,300
Incurred (recovered) related to:
Current year		116,262			73,721			265,811			199,907
Prior years		113			(173	)		1,318			(158	)
Total incurred		116,375			73,548			267,129			199,749
Paid related to:
Current year		93,969			73,352			179,000			146,012
Prior years		15,912			5,077			118,771			86,732
Total paid		109,881			78,429			297,771			232,744
Net balance at end of period		27,746			52,305			27,746			52,305
Plus: Reinsurance recoverable		412,697			1,904			412,697			1,904
Balance at end of period	$	440,443		$	54,209		$	440,443		$	54,209