Liability for Unpaid Losses and Loss Adjustment Expense (Tables)

6 Months Ended

Jun. 30, 2020

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 six months ended June 30, 2020 and 2019 on a GAAP basis:

	June 30,
	2020			2019
Balance at January 1	$	760,357		$	661,203
Less: reinsurance recoverable on unpaid losses	482,315			477,870
Net balance at January 1	$	278,042		$	183,333
Incurred related to:
Current year	206,482			199,832
Prior years	(1,952		)	20,967
Total incurred	$	204,530		$	220,799
Paid related to:
Current year	96,282			108,042
Prior years	101,188			98,143
Total paid	$	197,470		$	206,185
Net balance at June 30	$	285,102		$	197,947
Plus: reinsurance recoverable on unpaid losses	398,369			379,402
Balance at June 30	$	683,471		$	577,349
Composition of reserve for unpaid losses and LAE:
Case reserves	$	307,425		$	257,873
IBNR reserves	376,046			319,476
Balance at June 30	$	683,471		$	577,349