Reserve For Losses And Loss Expenses (Tables)

3 Months Ended

Mar. 31, 2016

Components of liabilty for unpaid losses and loss expenses

The reserve for losses and loss expenses consists of the following:



	March 31, 2016		December 31, 2015
Outstanding loss reserves	$	1,710.3	$	1,678.5
Reserves for losses incurred but not reported	4,864.8		4,777.7
Reserve for losses and loss expenses	$	6,575.1	$	6,456.2

Reconciliation of beginning and ending liability for unpaid losses and loss expenses

The table below is a reconciliation of the beginning and ending liability for unpaid losses and loss expenses. Losses incurred and paid are reflected net of reinsurance recoverables.



	Three Months Ended March 31,
	2016			2015
Gross liability at beginning of period	$	6,456.2		$	5,881.2
Reinsurance recoverable at beginning of period	(1,480.0		)	(1,340.3		)
Net liability at beginning of period	4,976.2			4,540.9
Net losses incurred related to:
Current year	397.8			388.8
Prior years	(25.4		)	(63.6		)
Total incurred	372.4			325.2
Net paid losses related to:
Current year	6.7			6.6
Prior years	282.5			293.1
Total paid	289.2			299.7
Foreign exchange revaluation and other	3.7			(11.6		)
Net liability at end of period	5,063.1			4,554.8
Reinsurance recoverable at end of period	1,512.0			1,350.3
Gross liability at end of period	$	6,575.1		$	5,905.1