Liability for Unpaid Losses and Loss Adjustment Expense (Tables)

9 Months Ended

Sep. 30, 2017

Schedule of Liability for Unpaid Claims and Claims Adjustment Expense

The table below shows the analysis of our reserve for unpaid losses for the nine months ended September 30, 2017 and September 30, 2016 on a GAAP basis:



	September 30,
	2017			2016
Balance at January 1	$	140,855		$	76,792
Less: reinsurance recoverable on unpaid losses	18,724			2,114
Net balance at January 1	$	122,131		$	74,678

Acquisition of IIC reserves	—			22,576
Acquisition of AMCO reserves (net of reinsurance recoverables of $19,945)	40,583			—

Incurred related to:
Current year	296,217			190,031
Prior years	(2,819		)	9,585
Total incurred	$	293,398		$	199,616
Paid related to:
Current year	160,952			129,927
Prior years	84,497			53,437
Total paid	$	245,449		$	183,364

Net balance at September 30	$	210,663		$	113,506
Plus: reinsurance recoverable on unpaid losses	471,498			9,154
Balance at September 30	$	682,161		$	122,660

Composition of reserve for unpaid losses and LAE:
Case reserves	$	289,938		$	75,305
IBNR reserves	392,223			47,355
Balance at September 30	$	682,161		$	122,660