Liability for Unpaid Losses and Loss Adjustment Expense (Tables)

9 Months Ended

Sep. 30, 2019

Insurance [Abstract]

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, 2019 and 2018 on a GAAP basis:

	September 30,
	2019		2018
Balance at January 1	$	661,203	$	482,232
Less: reinsurance recoverable on unpaid losses	477,870		305,673
Net balance at January 1	$	183,333	$	176,559
Incurred related to:
Current year	335,708		290,600
Prior years	33,216		(4,207		)
Total incurred	$	368,924	$	286,393
Paid related to:
Current year	185,257		163,589
Prior years	115,890		102,750
Total paid	$	301,147	$	266,339
Net balance at September 30	$	251,110	$	196,613
Plus: reinsurance recoverable on unpaid losses	573,037		332,229
Balance at September 30	$	824,147	$	528,842
Composition of reserve for unpaid losses and LAE:
Case reserves	$	271,073	$	259,678
IBNR reserves	553,074		269,164
Balance at September 30	$	824,147	$	528,842