Reinsurance (Tables)

9 Months Ended

Sep. 30, 2016

Reinsurance Disclosures [Abstract]

Schedule of reinsurance recoverable

The Company's reinsurance balances recoverable at September 30, 2016 and December 31, 2015 were as follows:

	September 30, 2016		December 31, 2015
Loss reserves recoverable on unpaid:
Outstanding losses	$	174,210	$	135,723
IBNR	270,399		214,863
Total loss reserves recoverable	444,609		350,586
Paid losses recoverable	36,069		23,071
Total reinsurance balances recoverable	$	480,678	$	373,657

Reinsurance recoverables by reinsurer

Reinsurance balances recoverable by reinsurer as at September 30, 2016 and December 31, 2015 were as follows:

	September 30, 2016				December 31, 2015
	Reinsurance Recoverable		% of Total		Reinsurance Recoverable		% of Total
Top 10 reinsurers	$	401,760	83.6	%	$	303,108	81.1	%
Other reinsurers’ balances > $1 million	73,005		15.2	%	61,222		16.4	%
Other reinsurers’ balances < $1 million	5,913		1.2	%	9,327		2.5	%
Total	$	480,678	100.0	%	$	373,657	100.0	%

The following tables show the reinsurance balances recoverable due from, and the ratings associated with, the Company's top ten reinsurers as at September 30, 2016 and December 31, 2015:

	September 30, 2016
Top 10 Reinsurers	Rating	Reinsurance Recoverable		% of Total
Swiss Re	AA-	$	84,388	17.7	%
Fully collateralized reinsurers	NR	84,296		17.5	%
Lloyd's Syndicates	A+	77,607		16.1	%
Hannover Re	AA-	49,699		10.3	%
Everest Re	A+	46,130		9.6	%
Munich Re	AA-	17,498		3.6	%
Hamilton Re	A-	12,502		2.6	%
Transatlantic Re	A+	11,624		2.4	%
Toa Re	A+	9,011		1.9	%
XL Re	A+	9,005		1.9	%
Total		$	401,760	83.6	%

	December 31, 2015
Top 10 Reinsurers	Rating	Reinsurance Recoverable		% of Total
Swiss Re	AA-	$	83,048	22.2	%
Lloyd's Syndicates	A+	66,356		17.8	%
Hannover Re	AA-	43,765		11.7	%
Everest Re	A+	43,060		11.5	%
Munich Re	AA-	18,707		5.0	%
Transatlantic Re	A+	11,923		3.2	%
Hamilton Re	A-	10,898		2.9	%
National Indemnity Company	AA+	10,293		2.8	%
XL Re	A+	8,728		2.3	%
Toa Re	A+	6,330		1.7	%
Total		$	303,108	81.1	%