Supplementary Information on Loss and ALAE Development (Unaudited)

12 Months Ended

Dec. 31, 2017

Notes to Financial Statements

Supplementary Information on Loss and ALAE Development (Unaudited)

NOTE 20 – 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		2008 (1)		2009 (1)		2010 (1)		2011 (1)		2012 (1)		2013 (1)		2014 (1)		2015 (1)		2016 (1)		2017
	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		17,617,589		17,497,508
	2009				21,751,337		21,412,289		21,571,780		21,012,811		20,398,961		19,667,376		19,050,348		18,554,526		17,622,828
	2010						21,418,368		20,437,443		19,883,812		19,326,007		18,639,537		18,075,737		17,641,161		16,828,688
	2011								18,120,563		17,900,250		17,605,460		17,014,895		17,879,595		18,224,634		19,187,240
	2012										18,511,598		19,532,022		18,895,666		18,344,175		18,050,131		17,914,837
	2013												19,570,946		20,118,343		20,323,841		21,742,580		22,798,398
	2014														16,884,731		15,394,995		14,930,960		17,640,211
	2015																20,452,199		20,840,034		22,471,512
	2016																		21,646,663		22,908,016
	2017																				21,914,736

(1) The information for the years 2008 through 2016 is presented as unaudited required supplementary information. 

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

Accident
Year		2008 (1)		2009 (1)		2010 (1)		2011 (1)		2012 (1)		2013 (1)		2014 (1)		2015 (1)		2016 (1)		2017
	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		17,593,260		17,497,105
	2009				4,919,359		9,592,059		13,160,200		16,180,346		17,121,818		17,336,454		17,380,065		17,550,304		17,568,877
	2010						7,535,122		10,695,223		12,955,467		14,756,510		15,330,864		16,283,050		16,778,214		16,720,942
	2011								4,719,943		8,608,287		11,212,490		14,251,525		16,115,802		17,422,583		19,027,232
	2012										6,719,982		11,673,621		13,411,125		15,369,629		16,734,967		17,265,513
	2013												7,594,731		10,656,777		14,319,057		19,067,334		21,415,490
	2014														3,826,263		6,082,893		9,173,947		14,556,687
	2015																6,263,796		11,151,955		14,978,639
	2016																		7,435,120		12,009,273
	2017																				6,405,641

(1) The information for the years 2008 through 2016 is presented as unaudited required supplementary information.

The following table presents average annual percentage payout of incurred claims by age, net of reinsurance, as of December 31, 2017:

Years	1		2		3		4		5		6		7		8		9		10
	31.8	%	19.9	%	17.9	%	16.5	%	7.6	%	3.1	%	1.8	%	0.7	%	0.4	%	0.3	%