LOSS AND LOSS ADJUSTMENT EXPENSE RESERVES (Tables)

9 Months Ended

Sep. 30, 2020

Insurance Loss Reserves [Abstract]

Schedule of Liability for Unpaid Claims and Claims Adjustment Expense

At September 30, 2020 and December 31, 2019, loss and loss adjustment expense reserves were composed of the following:

	September 30, 2020		December 31, 2019
	($ in thousands)
Case reserves	$	224,732	$	217,834
IBNR	257,038		252,754
Total	$	481,770	$	470,588

A summary of changes in outstanding loss and loss adjustment expense reserves for all lines of business consolidated

for the nine months ended September 30, 2020 and 2019 is as follows: 

Consolidated	2020		2019
	($ in thousands)
Gross balance at January 1	$	470,588	$	482,662
Less: Losses recoverable	(27,531)		(43,705)
Net balance at January 1	443,057		438,957
Incurred losses related to:
Current year	247,559		264,129
Prior years	5,385		30,174
Total incurred	252,944		294,303
Paid losses related to:
Current year	(72,453)		(93,822)
Prior years	(161,222)		(200,384)
Total paid	(233,675)		(294,206)
Foreign currency revaluation	(505)		(1,154)
Net balance at September 30	461,821		437,900
Add: Losses recoverable	19,949		41,535
Gross balance at September 30	$	481,770	$	479,435

The changes in the outstanding loss and loss adjustment expense reserves for health claims for the nine months ended September 30, 2020 and 2019 are as follows:

Health	2020		2019
	($ in thousands)
Gross balance at January 1	$	18,063	$	24,502
Less: Losses recoverable	—		—
Net balance at January 1	18,063		24,502
Incurred losses related to:
Current year	25,032		26,013
Prior years	1,341		2,196
Total incurred	26,373		28,209
Paid losses related to:
Current year	(15,115)		(14,741)
Prior years	(16,327)		(23,160)
Total paid	(31,442)		(37,901)
Foreign currency revaluation	—		—
Net balance at September 30	12,994		14,810
Add: Losses recoverable	—		—
Gross balance at September 30	$	12,994	$	14,810