Premiums receivable

12 Months Ended

Dec. 31, 2016

Premiums Receivable Disclosure [Abstract]

Premiums receivable

Premiums receivable

Premiums receivable are composed of premiums in the course of collection, net of commissions and brokerage, and premiums accrued but unbilled, net of commissions and brokerage. It is common practice in the (re)insurance industry for premiums to be paid on an installment basis, therefore significant amounts will be considered unbilled and will not become due until a future date, which is typically no later than expiration of the underlying coverage period. The following is a breakdown of the components of premiums receivable at December 31, 2016 and 2015:

	Year Ended December 31, 2016
	Premiums in course of collection		Premiums accrued but unbilled		Total
Premiums receivable, beginning of year	$	95,152	$	563,530	$	658,682
Change during year	6,250		60,458		66,708
Premiums receivable, end of year	$	101,402	$	623,988	$	725,390

	Year Ended December 31, 2015
	Premiums in course of collection		Premiums accrued but unbilled			Total
Premiums receivable, beginning of year	$	84,901	$	621,566		$	706,467
Change during year	10,251		(58,036		)	(47,785		)
Premiums receivable, end of year	$	95,152	$	563,530		$	658,682