Supplementary Information on Loss and ALAE Development (Unaudited)

12 Months Ended

Dec. 31, 2018

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		2009 (1)		2010 (1)		2011 (1)		2012 (1)		2013 (1)		2014 (1)		2015 (1)		2016 (1)		2017		2018
	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		17,619,015
	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		16,822,859
	2011						18,120,563		17,900,250		17,605,460		17,014,895		17,879,595		18,224,634		19,187,240		19,094,732
	2012								18,511,598		19,532,022		18,895,666		18,344,175		18,050,131		17,914,837		18,235,335
	2013										19,570,946		20,118,343		20,323,841		21,742,580		22,798,398		22,397,394
	2014												16,884,731		15,394,995		14,930,960		17,640,211		18,034,749
	2015														20,452,199		20,840,034		22,471,512		21,707,615
	2016																21,646,663		22,908,016		24,126,775
	2017																		21,914,736		23,453,130
	2018																				19,048,233

(1) The information for the years 2009 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		2009 (1)		2010 (1)		2011 (1)		2012 (1)		2013 (1)		2014 (1)		2015 (1)		2016 (1)		2017		2018
	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		17,568,228
	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		16,721,059
	2011						4,719,943		8,608,287		11,212,490		14,251,525		16,115,802		17,422,583		19,027,232		19,087,866
	2012								6,719,982		11,673,621		13,411,125		15,369,629		16,734,967		17,265,513		17,638,646
	2013										7,594,731		10,656,777		14,319,057		19,067,334		21,415,490		21,875,978
	2014												3,826,263		6,082,893		9,173,947		14,556,687		16,843,128
	2015														6,263,796		11,151,955		14,978,639		17,700,688
	2016																7,435,120		12,009,273		15,916,432
	2017																		6,405,641		11,503,228
	2018																				4,959,689

(1) The information for the years 2009 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, 2018:

Years	1		2		3		4		5		6		7		8		9		10
	30.2	%	19.9	%	17.3	%	15.4	%	8.6	%	2.9	%	1.8	%	0.7	%	0.3	%	0.3	%