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Loss and loss adjustment expense reserves (Tables)
3 Months Ended
Mar. 31, 2014
Loss and Loss Adjustment Expense Reserves [Abstract]  
Schedule of loss and loss adjustment expense reserves
As of March 31, 2014 and December 31, 2013, loss and loss adjustment expense reserves in the condensed consolidated balance sheets was comprised of the following:
 
March 31,
2014
 
December 31,
2013
 
($ in thousands)
Case loss and loss adjustment expense reserves
$
33,028

 
$
34,307

Incurred but not reported loss and loss adjustment expense reserves
131,596

 
100,024

 
$
164,624

 
$
134,331

Schedule of activity in the reserve for losses and loss adjustment expenses
The following table represents the activity in the reserve for losses and loss adjustment expenses for the three months ended March 31, 2014 and year ended December 31, 2013:
 
March 31,
2014
 
December 31,
2013
 
($ in thousands)
Gross reserves for loss and loss adjustment expenses, beginning of period
$
134,331

 
$
67,271

Less: loss and loss adjustment expenses recoverable, beginning of period
(9,277
)
 

Net reserves for loss and loss adjustment expenses, beginning of period
125,054

 
67,271

Increase (decrease) in net loss and loss adjustment expenses incurred in respect of losses occurring in:
 
 
 
     Current year
43,233

 
144,509

     Prior years'
3,026

 
(4,697
)
Total incurred loss and loss adjustment expenses
46,259

 
139,812

Net loss and loss adjustment expenses paid in respect of losses occurring in:
 
 
 
     Current year
(3,643
)
 
(27,528
)
     Prior years'
(13,323
)
 
(54,501
)
Total net paid losses
(16,966
)
 
(82,029
)
Net reserve for loss and loss adjustment expenses, end of period
154,347

 
125,054

Plus: loss and loss adjustment expenses recoverable, end of period
10,277

 
9,277

Gross reserve for loss and loss adjustment expenses, end of period
$
164,624

 
$
134,331