Reserves for Losses and Loss Adjustment Expenses

3 Months Ended

Mar. 31, 2018

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,
	2018		2017
Reserve for unpaid losses and allocated LAE balance, net	$	18,959	$	17,470
Reinsurance recoverables on unpaid losses		8,075		11,495
Unallocated LAE		1,103		1,248
Reserve for unpaid losses and LAE balance, gross	$	28,137	$	30,213

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

					March 31, 2018
					Total of
					IBNR Reserves
					Plus Expected		Cumulative
Accident	Three Months Ended March 31, 2018				Development on		Number of
Year	Paid		Incurred		Reported Claims		Reported Claims
2014		83,560		84,049		109		13,173
2015		85,987		87,258		512		15,129
2016		82,291		84,938		2,124		21,438
2017		83,356		89,537		3,273		21,805
2018		5,479		13,002		1,940		2,504
Total		340,673	$	358,784
		848	All outstanding reserves prior to 2014, net of reinsurance
	$	18,959	Reserve for unpaid losses and allocated LAE, net of reinsurance