Supplementary Information on Loss and ALAE Development (Unaudited)

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Supplementary Information on Loss and ALAE Development (Unaudited)

NOTE 22 – 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		2011 (1)		2012 (1)		2013 (1)		2014 (1)		2015 (1)		2016 (1)		2017 (1)		2018 (1)		2019 (1)		2020
	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		19,156,281		19,150,281
	2012				18,511,598		19,532,022		18,895,666		18,344,175		18,050,131		17,914,837		18,235,335		18,355,031		18,327,346
	2013						19,570,946		20,118,343		20,323,841		21,742,580		22,798,398		22,397,394		22,859,132		22,802,931
	2014								16,884,731		15,394,995		14,930,960		17,640,211		18,034,749		17,898,306		18,048,285
	2015										20,452,199		20,840,034		22,471,512		21,707,615		23,006,844		24,495,614
	2016												21,646,663		22,908,016		24,126,775		25,677,378		26,337,621
	2017														21,914,736		23,453,130		23,876,588		25,091,934
	2018																19,048,233		18,099,500		20,670,880
	2019																		17,349,941		19,182,851
	2020																				24,302,958

(1) The information for the years 2011 through 2019 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		2011 (1)		2012 (1)		2013 (1)		2014 (1)		2015 (1)		2016 (1)		2017 (1)		2018 (1)		2019 (1)		2020
	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		19,133,302		19,150,278
	2012				6,719,982		11,673,621		13,411,125		15,369,629		16,734,967		17,265,513		17,638,646		18,001,581		18,020,565
	2013						7,594,731		10,656,777		14,319,057		19,067,334		21,415,490		21,875,978		22,364,215		22,802,275
	2014								3,826,263		6,082,893		9,173,947		14,556,687		16,843,128		17,487,722		17,806,537
	2015										6,263,796		11,151,955		14,978,639		17,700,688		20,148,880		21,502,400
	2016												7,435,120		12,009,273		15,916,432		21,438,785		23,326,143
	2017														6,405,641		11,503,228		15,289,400		18,869,369
	2018																4,959,689		9,254,754		12,129,118
	2019																		4,292,275		7,603,418
	2020																				6,004,292

(1) The information for the years 2011 through 2019 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, 2020:

Years	1		2		3		4		5		6		7		8		9		10
	26.6	%	18.8	%	14.9	%	15.8	%	8.3	%	3.3	%	1.9	%	0.7	%	0.4	%	0.4	%