Supplementary Information on Loss and ALAE Development (Unaudited)

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Supplementary Information on Loss and ALAE Development (Unaudited)

NOTE 21 – SUPPLEMENTARY INFORMATION ON LOSS AND ALAE DEVELOPMENT (UNAUDITED)

The following table presents cumulative incurred losses and ALAE, net of reinsurance, for years ended December 31:

Accident Year		2007		2008		2009		2010		2011		2012		2013		2014		2015
2007	$	24,747,856	$	26,117,669	$	27,061,323	$	27,029,577	$	26,203,117	$	25,511,988	$	24,770,214	$	24,107,044	$	23,979,026
2008				22,580,220		22,106,937		21,290,931		20,004,073		19,347,265		18,668,518		17,889,384		17,456,810
2009						21,751,337		21,412,289		21,571,780		21,012,811		20,398,961		19,667,376		19,050,348
2010								21,418,368		20,437,443		19,883,812		19,326,007		18,639,537		18,075,737
2011										18,120,563		17,900,250		17,605,460		17,014,895		17,879,595
2012												18,511,598		19,532,022		18,895,666		18,344,175
2013														19,570,946		20,118,343		20,323,841
2014																16,884,731		15,394,995
2015																		20,452,199

The following table presents cumulative paid losses and ALAE, net of reinsurance, for years ended December 31:

Accident Year		2007		2008		2009		2010		2011		2012		2013		2014		2015
2007	$	6,980,915	$	12,283,217	$	18,309,573	$	21,637,121	$	23,333,861	$	23,548,201	$	23,762,758	$	23,906,841	$	23,907,436
2008				6,962,996		9,869,827		13,950,969		15,902,618		16,856,762		17,001,061		17,041,185		17,178,322
2009						4,919,359		9,592,059		13,160,200		16,180,346		17,121,818		17,336,454		17,380,065
2010								7,535,122		10,695,223		12,955,467		14,756,510		15,330,864		16,283,050
2011										4,719,943		8,608,287		11,212,490		14,251,525		16,115,802
2012												6,719,982		11,673,621		13,411,125		15,369,629
2013														7,594,731		10,656,777		14,319,057
2014																3,826,263		6,082,893
2015																		6,263,796

The following table presents average annual percentage payout of incurred claims by age, net of reinsurance, as of December 31, 2016:

Years	1		2		3		4		5		6		7		8		9		10
	25.3	%	20.7	%	24.4	%	15.6	%	7.8	%	2.5	%	1.1	%	0.8	%	0.2	%	0.6	%