Reserve For Losses And Loss Expenses (Tables)

9 Months Ended

Sep. 30, 2016

Insurance Loss Reserves [Abstract]

Components of liabilty for unpaid losses and loss expenses

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

	September 30, 2016		December 31, 2015
Outstanding loss reserves	$	1,751.0	$	1,678.5
Reserves for losses incurred but not reported	4,914.8		4,777.7
Reserve for losses and loss expenses	$	6,665.8	$	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   September 30,						Nine Months Ended   September 30,
	2016			2015			2016			2015
Gross liability at beginning of period	$	6,623.2		$	6,363.9		$	6,456.2		$	5,881.2
Reinsurance recoverable at beginning of period	(1,516.7		)	(1,433.1		)	(1,480.0		)	(1,340.3		)
Net liability at beginning of period	5,106.5			4,930.8			4,976.2			4,540.9
Acquisition of net reserves for losses and loss expenses	—			—			—			257.0
Net losses incurred related to:
Current year	406.0			425.5			1,207.0			1,267.7
Prior years	(29.7		)	(8.6		)	(92.9		)	(94.1		)
Total incurred	376.3			416.9			1,114.1			1,173.6
Net paid losses related to:
Current year	70.6			60.8			111.8			95.4
Prior years	301.1			287.8			864.5			866.8
Total paid	371.7			348.6			976.3			962.2
Foreign exchange revaluation	4.0			(12.3		)	1.1			(22.5		)
Net liability at end of period	5,115.1			4,986.8			5,115.1			4,986.8
Reinsurance recoverable at end of period	1,550.7			1,449.8			1,550.7			1,449.8
Gross liability at end of period	$	6,665.8		$	6,436.6		$	6,665.8		$	6,436.6