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Liability for Unpaid Losses and Loss Adjustment Expenses (Tables)
9 Months Ended
Sep. 30, 2019
Insurance [Abstract]  
Summarized Activity in Liability for Unpaid Losses and Loss Adjustment Expenses

Activity in the liability for unpaid losses and loss adjustment expenses is summarized as follows:

 

 

 

Quarters Ended September 30,

 

 

Nine Months Ended September 30,

 

(Dollars in thousands)

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Balance at beginning of period

 

$

608,773

 

 

$

613,670

 

 

$

680,031

 

 

$

634,664

 

Less: Ceded reinsurance receivables

 

 

59,834

 

 

 

91,397

 

 

 

109,342

 

 

 

97,243

 

Net balance at beginning of period

 

 

548,939

 

 

 

522,273

 

 

 

570,689

 

 

 

537,421

 

Incurred losses and loss adjustment expenses related to:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current year

 

 

80,533

 

 

 

92,469

 

 

 

225,022

 

 

 

222,916

 

Prior years

 

 

(6,950

)

 

 

(11,976

)

 

 

(23,043

)

 

 

(27,490

)

Total incurred losses and loss adjustment expenses

 

 

73,583

 

 

 

80,493

 

 

 

201,979

 

 

 

195,426

 

Paid losses and loss adjustment expenses related to:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current year

 

 

47,290

 

 

 

53,121

 

 

 

102,806

 

 

 

103,695

 

Prior years

 

 

20,789

 

 

 

27,312

 

 

 

115,419

 

 

 

106,819

 

Total paid losses and loss adjustment expenses

 

 

68,079

 

 

 

80,433

 

 

 

218,225

 

 

 

210,514

 

Net balance at end of period

 

 

554,443

 

 

 

522,333

 

 

 

554,443

 

 

 

522,333

 

Plus:  Ceded reinsurance receivables

 

 

78,844

 

 

 

86,274

 

 

 

78,844

 

 

 

86,274

 

Balance at end of period

 

$

633,287

 

 

$

608,607

 

 

$

633,287

 

 

$

608,607