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Unpaid Losses And Loss Adjustment Expenses
 6 Months Ended
Jun. 30, 2019
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims [Abstract]  
Unpaid Losses And Loss Adjustment Expenses Unpaid Losses and Loss Adjustment Expenses

The following table presents a reconciliation of consolidated beginning and ending reserves for losses and loss adjustment expenses.
 
Six Months Ended June 30,
(dollars in thousands)
2019
 
2018
Net reserves for losses and loss adjustment expenses, beginning of year
$
9,214,443

 
$
8,964,945

Foreign currency movements
(2,866
)
 
(20,554
)
Adjusted net reserves for losses and loss adjustment expenses, beginning of year
9,211,577

 
8,944,391

Incurred losses and loss adjustment expenses:
 
 
 
Current accident year
1,554,682

 
1,479,882

Prior accident years
(188,949
)
 
(265,613
)
Total incurred losses and loss adjustment expenses
1,365,733

 
1,214,269

Payments:
 
 
 
Current accident year
206,461

 
195,873

Prior accident years
1,173,743

 
1,073,004

Total payments
1,380,204

 
1,268,877

Effect of foreign currency rate changes
760

 
(101
)
Net reserves for losses and loss adjustment expenses, end of period
9,197,866

 
8,889,682

Reinsurance recoverables on unpaid losses
5,137,917

 
4,739,259

Gross reserves for losses and loss adjustment expenses, end of period
$
14,335,783

 
$
13,628,941



For the six months ended June 30, 2019, incurred losses and loss adjustment expenses included $188.9 million of favorable development on prior years' loss reserves, which included $168.1 million of favorable development on the Company's general liability, workers' compensation and personal lines product lines within the Insurance segment, and aviation, whole account and auto product lines within the Reinsurance segment.

For the six months ended June 30, 2018, incurred losses and loss adjustment expenses included $265.6 million of favorable development on prior years' loss reserves, which included $211.9 million of favorable development on the Company's general liability, professional liability, workers' compensation and marine and energy product lines within the Insurance segment and surety and marine and energy product lines within the Reinsurance segment.