v3.21.2

Reserve for Loss and Loss Adjustment Expenses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |  |
--- | --- | --- | --- | ---
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019
Insurance [Abstract] |  |  |  |  |  |
Reserve for reported loss and LAE | $ 906,833 |  | $ 906,833 |  | $ 998,691 |
Reserve for losses incurred but not reported ("IBNR") | 767,757 |  | 767,757 |  | 894,608 |
Reserve for loss and LAE | 1,674,590 | $ 2,071,222 | 1,674,590 | $ 2,071,222 | 1,893,299 | $ 2,439,907
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward] |  |  |  |  |  |
Reserve for loss and LAE | 1,674,590 | 2,071,222 | 1,674,590 | 2,071,222 | 1,893,299 | 2,439,907
Less: reinsurance recoverable on unpaid losses, January 1 |  |  | 592,571 | 623,422 |  |
Liability for Unpaid Claims and Claims Adjustment Expense, Net, Total | 1,109,041 | 1,453,726 | 1,109,041 | 1,453,726 | $ 1,300,728 | $ 1,816,485
Net incurred losses related to Current year |  |  | 15,393 | 32,687 |  |
Net incurred losses related to Prior year |  |  | (18,361) | (593) |  |
Net loss and loss adjustment expenses | (5,327) | 11,008 | (2,968) | 32,094 |  |
Net paid losses related to Current year |  |  | 8,479 | (1,832) |  |
Net paid losses related to Prior years |  |  | (206,708) | (387,023) |  |
Net paid losses |  |  | (198,229) | (388,855) |  |
Retroactive reinsurance adjustment |  |  | 20,687 | 1,410 |  |
Effect of foreign exchange rate movements |  |  | (11,177) | (7,408) |  |
Net loss and LAE reserves, June 30 | 1,109,041 | 1,453,726 | 1,109,041 | 1,453,726 |  |
Reinsurance recoverable on unpaid losses, June 30 | 565,549 | 617,496 | 565,549 | 617,496 |  |
Gross loss and LAE reserves, June 30 | 1,674,590 | 2,071,222 | 1,674,590 | 2,071,222 |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |
Net adverse prior year development (net favorable prior year reserve development) | (12,807) | (60) | (18,361) | (593) |  |
AmTrust Quota Share Reinsurance Segment |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |
Deferred gain on retroactive reinsurance, increase (decrease) |  |  | (20,687) |  |  |
Diversified Reinsurance |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |
Net adverse prior year development (net favorable prior year reserve development) | (951) | 362 | (937) | (171) |  |
AmTrust Reinsurance |  |  |  |  |  |
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward] |  |  |  |  |  |
Less: reinsurance recoverable on unpaid losses, January 1 |  |  | 519,941 |  |  |
Reinsurance recoverable on unpaid losses, June 30 | 499,254 |  | 499,254 |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |
Net adverse prior year development (net favorable prior year reserve development) | $ (11,856) | $ (422) | $ (17,424) | $ (422) |  |

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- Definition Liability as of the balance sheet date for amounts representing estimated cost of settling unpaid claims under the terms of the underlying insurance policies, less estimated reinsurance recoveries on such claims. This includes an estimate for claims which have been incurred but not reported. Claim adjustment expenses represent the costs estimated to be incurred in the settlement of unpaid claims. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(13)(a)) -URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 3 -Subparagraph (cc) -URI http://asc.fasb.org/extlink&oid=116884095&loc=d3e14764-158437 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 3 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=116884095&loc=d3e14764-158437 + Details
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