Unpaid Losses And Loss Adjustment Expenses (Tables)

9 Months Ended

Sep. 30, 2024

Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims [Abstract]

Reconciliation Of Consolidated Reserves For Losses And Loss Adjustment Expenses

The following table presents a reconciliation of consolidated beginning and ending reserves for losses and loss adjustment expenses.

	Nine Months Ended September 30,
(dollars in thousands)	2024		2023
Gross reserves for losses and loss adjustment expenses, beginning of year	$	23,483,321	$	20,947,898
Reinsurance recoverables on unpaid losses, beginning of year	8,820,567		7,994,884
Net reserves for losses and loss adjustment expenses, beginning of year	14,662,754		12,953,014
Effect of foreign currency rate changes on beginning of year balance	45,503		16,246
Adjusted net reserves for losses and loss adjustment expenses, beginning of year	14,708,257		12,969,260
Incurred losses and loss adjustment expenses:
Current accident year	4,155,146		3,934,969
Prior accident years	(344,212)		(169,754)
Total incurred losses and loss adjustment expenses	3,810,934		3,765,215
Payments:
Current accident year	444,221		419,998
Prior accident years	2,415,104		2,018,199
Total payments	2,859,325		2,438,197
Effect of foreign currency rate changes on current year activity	1,861		416
Change in net reserves for losses and loss adjustment expenses of Markel CATCo Re (see note 12)	(78,091)		(146,895)
Reinsurance recoverable for retroactive reinsurance transaction	—		(125,067)
Net reserves for losses and loss adjustment expenses, end of period	15,583,636		14,024,732
Reinsurance recoverables on unpaid losses	10,293,842		8,119,634
Gross reserves for losses and loss adjustment expenses, end of period	$	25,877,478	$	22,144,366