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Life, Accident and Health Reserves (Tables)

6 Months Ended

Jun. 30, 2019

Insurance [Abstract]

Schedule of Life, Accident and Health Reserves

Life, accident and health reserves consist of the following (in millions):

		June 30, 2019				December 31, 2018
Long-term care insurance reserves		$	4,158.5			$	4,142.5
Traditional life insurance reserves		179.9				196.8
Other accident and health insurance reserves		198.2				222.8
Total life, accident and health reserves		$	4,536.6			$	4,562.1

The following table sets forth changes in the liability for claims for the portion of our long-term care insurance reserves (in millions):

		Six Months Ended June 30,
		2019				2018
Beginning balance		$	738.7			$	243.5
Less: recoverable from reinsurers		(136.4		)		(100.6		)
Beginning balance, net		602.3				142.9
Incurred related to insured events of:
Current year		108.8				36.4
Prior years		(41.2		)		2.6
Total incurred		67.6				39.0
Paid related to insured events of:
Current year		(2.9		)		(1.4		)
Prior years		(74.1		)		(25.2		)
Total paid		(77.0		)		(26.6		)
Interest on liability for policy and contract claims		10.7				2.6
Ending balance, net		603.6				157.9
Add: recoverable from reinsurers		137.4				106.4
Ending balance		$	741.0			$	264.3

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- References

No definition available.

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- Definition

Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=116884095&loc=d3e14764-158437

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