Liability for Unpaid Losses and Loss Adjustment Expenses

3 Months Ended

Mar. 31, 2018

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
	March 31,
	2018			2017
Balance at beginning of period	$	248,425		$	58,494
Less: Reinsurance recoverable		(182,405	)		(106	)
Net balance at beginning of period		66,020			58,388
Incurred (recovered) related to:
Current year		75,970			70,474
Prior years		(44	)		96
Total incurred		75,926			70,570
Paid related to:
Current year		17,407			22,890
Prior years		65,253			72,252
Total paid		82,660			95,142
Net balance at end of period		59,286			33,816
Plus: Reinsurance recoverable/(payable)		70,351			(2,353	)
Balance at end of period	$	129,637		$	31,463