Reserves for Losses and Loss Adjustment Expenses

3 Months Ended

Mar. 31, 2017

Reserves for Losses and Loss Adjustment Expenses

Reserve for Losses and Loss Adjustment Expenses

20. Reserve for Losses and Loss Adjustment Expenses

A summary of NLC’s reserve for unpaid losses and LAE, as included in other liabilities within the consolidated balance sheets, is as follows (in thousands).

	March 31,		December 31,
	2017		2016
Reserve for unpaid losses and allocated LAE balance, net	$	28,544	$	25,203
Reinsurance recoverables on unpaid losses		5,118		9,434
Unallocated LAE		1,158		1,189
Reserve for unpaid losses and LAE balance, gross	$	34,820	$	35,826

A summary of claims loss reserve development activity is presented in the following table (in thousands).

					March 31, 2017
					Total of
					IBNR Reserves
					Plus Expected		Cumulative
Accident	Three Months Ended March 31, 2017				Development on		Number of
Year	Paid		Incurred		Reported Claims		Reported Claims
2012	$	112,346	$	114,598	$	35		16,675
2013		109,976		111,085		57		15,753
2014		82,172		84,206		287		13,175
2015		83,679		88,447		2,525		14,915
2016		77,056		86,940		6,018		21,504
2017		9,443		17,845		2,437		3,999
Total		474,672	$	503,121
		95	All outstanding reserves prior to 2012, net of reinsurance
	$	28,544	Reserve for unpaid losses and allocated LAE, net of reinsurance