Loss and loss adjustment expense reserves (Tables)

12 Months Ended

Dec. 31, 2019

Loss and Loss Adjustment Expense Reserves [Abstract]

Schedule of loss and loss adjustment expense reserves

As of December 31, 2019 and 2018, loss and loss adjustment expense reserves in the consolidated balance sheets was comprised of the following:

	2019		2018
Case loss and loss adjustment expense reserves	$	148,166	$	125,456
Incurred but not reported loss and loss adjustment expense reserves	963,359		811,280
Deferred gains on retroactive reinsurance contracts	167		421
	$	1,111,692	$	937,157

Schedule of activity in the reserve for losses and loss adjustment expenses

The following table represents the activity in the loss and loss adjustment expense reserves for the years ended December 31, 2019, 2018 and 2017:

	2019			2018			2017
Gross reserves for loss and loss adjustment expenses, beginning of year	$	937,157		$	720,570		$	605,129
Less: loss and loss adjustment expenses recoverable, beginning of year	(2,031		)	(1,113		)	(1		)
Less: deferred charges on retroactive reinsurance contracts	(3,847		)	—			—
Net reserves for loss and loss adjustment expenses, beginning of year	931,279			719,457			605,128
Increase (decrease) in net loss and loss adjustment expenses incurred in respect of losses occurring in:
Current year	489,994			434,276			422,801
Prior years	(86,495		)	4,138			(52,743		)
Total incurred loss and loss adjustment expenses	403,499			438,414			370,058
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Current year	(63,638		)	(85,173		)	(110,799		)
Prior years	(188,392		)	(132,336		)	(162,447		)
Total net paid losses	(252,030		)	(217,509		)	(273,246		)
Foreign currency translation	16,686			(9,083		)	17,517
Net reserves for loss and loss adjustment expenses, end of year	1,099,434			931,279			719,457
Plus: loss and loss adjustment expenses recoverable, end of year	5,520			2,031			1,113
Plus: deferred charges on retroactive reinsurance contracts	6,738			3,847			—
Gross reserves for loss and loss adjustment expenses, end of year	$	1,111,692		$	937,157		$	720,570

Schedule of total loss and loss adjustment expenses incurred, net and net loss and loss adjustment expenses paid by accident years

The following tables provide a breakdown of the Company’s loss and loss adjustment expenses incurred, net and net loss and loss adjustment expenses paid by accident year by line of business for the Company’s prospective reinsurance contracts for the year ended December 31, 2019. The information related to loss and loss adjustment expenses incurred, net and net loss and loss adjustment expenses paid for the years ended December 31, 2012 through 2018 is presented as supplementary information and is unaudited:

Property Catastrophe

Loss and loss adjustment expenses incurred, net
Accident year	2012		2013		2014		2015		2016		2017		2018		2019		IBNR loss and LAE reserves, net
	<----------------------------------------------- Unaudited ----------------------------------------------->
2012	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
2013	—		—		—		—		—		—		—		—		—
2014	—		—		—		—		—		—		—		—		—
2015	—		—		—		—		—		—		—		—		—
2016	—		—		—		—		—		—		—		—		—
2017	—		—		—		—		—		—		—		—		—
2018	—		—		—		—		—		—		—		—		—
2019	—		—		—		—		—		—		—		39,251		38,529
Total															$	39,251	$	38,529
Cumulative net losses and loss adjustment expenses paid
Accident year	2012		2013		2014		2015		2016		2017		2018		2019
	<----------------------------------------------- Unaudited ----------------------------------------------->
2012	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
2013	—		—		—		—		—		—		—		—
2014	—		—		—		—		—		—		—		—
2015	—		—		—		—		—		—		—		—
2016	—		—		—		—		—		—		—		—
2017	—		—		—		—		—		—		—		—
2018	—		—		—		—		—		—		—		—
2019	—		—		—		—		—		—		—		470
Total															$	470
Property Catastrophe - net reserves for loss and loss adjustment expenses, end of year															$	38,781

Other Property

Loss and loss adjustment expenses incurred, net
Accident year	2012		2013		2014		2015		2016		2017		2018		2019		IBNR loss and LAE reserves, net
	<----------------------------------------------- Unaudited ----------------------------------------------->
2012	$	10,917	$	8,672	$	9,375	$	9,353	$	9,416	$	9,472	$	9,501	$	9,490	$	—
2013	—		27,765		24,980		25,766		25,882		25,785		26,170		26,051		7
2014	—		—		40,256		40,920		41,336		44,627		46,500		46,303		725
2015	—		—		—		50,330		52,533		54,635		56,313		56,201		1,533
2016	—		—		—		—		45,415		43,038		43,799		43,733		2,906
2017	—		—		—		—		—		41,237		41,833		41,753		3,120
2018	—		—		—		—		—		—		54,084		52,343		14,267
2019	—		—		—		—		—		—		—		53,590		26,305
Total															$	329,464	$	48,863
Cumulative net losses and loss adjustment expenses paid
Accident year	2012		2013		2014		2015		2016		2017		2018		2019
	<----------------------------------------------- Unaudited ----------------------------------------------->
2012	$	4,656	$	8,381	$	9,075	$	9,186	$	9,352	$	9,400	$	9,482	$	9,483
2013	—		14,635		22,229		24,023		25,167		25,406		25,815		25,993
2014	—		—		19,420		34,381		38,448		42,775		44,533		45,312
2015	—		—		—		22,706		43,382		48,360		51,783		53,924
2016	—		—		—		—		21,593		31,871		37,044		39,651
2017	—		—		—		—		—		24,713		33,436		37,171
2018	—		—		—		—		—		—		26,458		35,169
2019	—		—		—		—		—		—		—		22,624
Total															$	269,327
Other Property - net reserves for loss and loss adjustment expenses, end of year															$	60,137

Workers’ Compensation

Loss and loss adjustment expenses incurred, net
Accident year	2012		2013		2014		2015		2016		2017		2018		2019		IBNR loss and LAE reserves, net
	<----------------------------------------------- Unaudited ----------------------------------------------->
2012	$	4,037	$	4,534	$	5,066	$	5,596	$	5,715	$	5,720	$	5,874	$	5,938	$	6
2013	—		27,449		28,616		33,365		33,449		33,252		33,067		32,741		286
2014	—		—		40,247		46,568		47,200		43,470		42,037		41,115		1,699
2015	—		—		—		35,749		37,138		34,800		32,529		31,116		2,723
2016	—		—		—		—		40,433		39,205		36,475		31,047		4,159
2017	—		—		—		—		—		41,075		40,459		34,453		9,205
2018	—		—		—		—		—		—		27,753		25,050		10,630
2019	—		—		—		—		—		—		—		26,889		18,758
Total															$	228,349	$	47,466
Cumulative net losses and loss adjustment expenses paid
Accident year	2012		2013		2014		2015		2016		2017		2018		2019
	<----------------------------------------------- Unaudited ----------------------------------------------->
2012	$	93	$	624	$	3,017	$	4,280	$	4,969	$	4,796	$	5,110	$	5,347
2013	—		2,587		9,142		16,840		22,826		26,956		29,082		30,377
2014	—		—		4,073		15,947		24,280		29,573		34,112		36,262
2015	—		—		—		2,669		10,755		17,001		22,432		24,942
2016	—		—		—		—		3,985		13,236		18,346		21,754
2017	—		—		—		—		—		4,586		11,868		16,908
2018	—		—		—		—		—		—		2,552		7,089
2019	—		—		—		—		—		—		—		2,639
Total															$	145,318
Workers’ Compensation - net reserves for loss and loss adjustment expenses, end of year															$	83,031

Auto

Loss and loss adjustment expenses incurred, net
Accident year	2012		2013		2014		2015		2016		2017		2018		2019		IBNR loss and LAE reserves, net
	<----------------------------------------------- Unaudited ----------------------------------------------->
2012	$	13,247	$	12,264	$	11,777	$	11,534	$	11,433	$	11,333	$	11,356	$	11,349	$	—
2013	—		20,830		19,990		19,472		19,338		19,483		19,534		19,489		7
2014	—		—		104,896		103,473		103,568		103,661		103,822		103,623		53
2015	—		—		—		82,677		88,705		89,550		89,459		89,241		119
2016	—		—		—		—		77,785		85,903		86,434		86,511		343
2017	—		—		—		—		—		48,682		50,793		50,698		809
2018	—		—		—		—		—		—		45,145		43,039		1,602
2019	—		—		—		—		—		—		—		29,051		11,593
Total															$	433,001	$	14,526
Cumulative net losses and loss adjustment expenses paid
Accident year	2012		2013		2014		2015		2016		2017		2018		2019
	<----------------------------------------------- Unaudited ----------------------------------------------->
2012	$	5,619	$	9,989	$	11,387	$	11,450	$	11,382	$	11,318	$	11,348	$	11,349
2013	—		8,673		17,244		18,686		19,066		19,363		19,463		19,479
2014	—		—		45,766		97,651		101,626		102,868		103,379		103,515
2015	—		—		—		42,451		80,765		86,100		88,168		88,630
2016	—		—		—		—		38,059		77,511		82,556		85,027
2017	—		—		—		—		—		23,546		45,196		48,665
2018	—		—		—		—		—		—		21,182		38,918
2019	—		—		—		—		—		—		—		10,951
Total															$	406,534
Auto - net reserves for loss and loss adjustment expenses, end of year															$	26,467

Other Casualty

Loss and loss adjustment expenses incurred, net
Accident year	2012		2013		2014		2015		2016		2017		2018		2019		IBNR loss and LAE reserves, net
	<----------------------------------------------- Unaudited ----------------------------------------------->
2012	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
2013	—		—		—		—		—		—		—		—		—
2014	—		—		5,480		7,519		7,316		4,903		5,584		5,849		1,302
2015	—		—		—		45,558		48,315		33,396		37,113		38,970		10,435
2016	—		—		—		—		63,082		52,118		54,990		56,774		23,647
2017	—		—		—		—		—		70,158		71,091		75,334		48,072
2018	—		—		—		—		—		—		120,553		124,859		99,737
2019	—		—		—		—		—		—		—		95,975		87,236
Total															$	397,761	$	270,429
Cumulative net losses and loss adjustment expenses paid
Accident year	2012		2013		2014		2015		2016		2017		2018		2019
	<----------------------------------------------- Unaudited ----------------------------------------------->
2012	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
2013	—		—		—		—		—		—		—		—
2014	—		—		16		340		1,390		2,226		3,104		3,685
2015	—		—		—		310		3,612		9,053		15,781		20,550
2016	—		—		—		—		621		6,165		13,467		20,783
2017	—		—		—		—		—		1,418		6,231		12,798
2018	—		—		—		—		—		—		1,674		9,968
2019	—		—		—		—		—		—		—		3,626
Total															$	71,410
Other Casualty - net reserves for loss and loss adjustment expenses, end of year															$	326,351

Credit & Financial Lines

Loss and loss adjustment expenses incurred, net
Accident year	2012		2013		2014		2015		2016		2017		2018		2019		IBNR loss and LAE reserves, net
	<----------------------------------------------- Unaudited ----------------------------------------------->
2012	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
2013	—		364		408		113		107		99		77		80		2
2014	—		—		5,774		2,643		2,416		2,203		1,384		1,454		95
2015	—		—		—		5,234		5,032		4,752		4,007		3,127		517
2016	—		—		—		—		10,726		10,721		10,816		6,560		1,751
2017	—		—		—		—		—		13,740		13,773		7,313		3,364
2018	—		—		—		—		—		—		17,715		10,940		6,482
2019	—		—		—		—		—		—		—		17,990		14,341
Total															$	47,464	$	26,552
Cumulative net losses and loss adjustment expenses paid
Accident year	2012		2013		2014		2015		2016		2017		2018		2019
	<----------------------------------------------- Unaudited ----------------------------------------------->
2012	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
2013	—		—		11		66		74		78		77		77
2014	—		—		42		784		1,038		1,318		1,322		1,344
2015	—		—		—		402		1,128		2,045		2,328		2,503
2016	—		—		—		—		1,013		2,326		3,419		4,196
2017	—		—		—		—		—		1,100		2,332		3,031
2018	—		—		—		—		—		—		897		2,717
2019	—		—		—		—		—		—		—		1,900
Total															$	15,768
Credit & Financial Lines - net reserves for loss and loss adjustment expenses, end of year															$	31,696

Multi-line

Loss and loss adjustment expenses incurred, net
Accident year	2012		2013		2014		2015		2016		2017		2018		2019		IBNR loss and LAE reserves, net
	<----------------------------------------------- Unaudited ----------------------------------------------->
2012	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
2013	—		9		4,272		4,564		4,564		4,564		4,564		4,564		—
2014	—		—		47,493		35,651		40,095		35,747		37,547		37,759		16,870
2015	—		—		—		86,003		108,581		106,957		107,292		116,499		37,445
2016	—		—		—		—		119,902		120,774		116,702		124,262		35,944
2017	—		—		—		—		—		100,304		107,485		110,994		30,137
2018	—		—		—		—		—		—		90,463		101,510		43,334
2019	—		—		—		—		—		—		—		129,248		105,338
Total															$	624,836	$	269,068
Cumulative net losses and loss adjustment expenses paid
Accident year	2012		2013		2014		2015		2016		2017		2018		2019
	<----------------------------------------------- Unaudited ----------------------------------------------->
2012	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
2013	—		—		1,243		4,563		4,563		4,563		4,563		4,563
2014	—		—		1,179		14,242		20,782		18,803		20,536		20,822
2015	—		—		—		30,620		65,309		73,844		76,564		78,443
2016	—		—		—		—		30,640		76,034		84,047		87,192
2017	—		—		—		—		—		53,789		74,191		79,660
2018	—		—		—		—		—		—		30,497		48,060
2019	—		—		—		—		—		—		—		19,328
Total															$	338,068
Multi-line - net reserves for loss and loss adjustment expenses, end of year															$	286,768

Other Specialty

Loss and loss adjustment expenses incurred, net
Accident year	2012		2013		2014		2015		2016		2017		2018		2019		IBNR loss and LAE reserves, net
	<----------------------------------------------- Unaudited ----------------------------------------------->
2012	$	52,105	$	49,942	$	50,055	$	50,055	$	50,065	$	50,104	$	50,104	$	50,104	$	—
2013	—		25,582		24,274		23,450		23,138		23,135		23,138		23,125		—
2014	—		—		—		—		—		—		—		—		—
2015	—		—		—		—		—		—		—		—		—
2016	—		—		—		—		—		—		812		730		691
2017	—		—		—		—		—		4,033		3,544		4,025		447
2018	—		—		—		—		—		—		6,213		6,866		2,573
2019	—		—		—		—		—		—		—		9,048		7,358
Total															$	93,898	$	11,069
Cumulative net losses and loss adjustment expenses paid
Accident year	2012		2013		2014		2015		2016		2017		2018		2019
	<----------------------------------------------- Unaudited ----------------------------------------------->
2012	$	2,666	$	48,455	$	50,024	$	50,025	$	50,067	$	50,103	$	50,103	$	50,103
2013	—		—		22,232		23,138		23,134		23,135		23,137		23,127
2014	—		—		—		—		—		—		—		—
2015	—		—		—		—		—		—		—		—
2016	—		—		—		—		—		—		—		—
2017	—		—		—		—		—		4		261		575
2018	—		—		—		—		—		—		957		2,109
2019	—		—		—		—		—		—		—		1,640
Total															$	77,554
Other Specialty - net reserves for loss and loss adjustment expenses, end of year															$	16,344

Property and Casualty Reinsurance - Retroactive Reinsurance Contracts

The Company writes reinsurance contracts that provide limited protection against adverse development on loss originating from multiple accident years. The Company has other retroactive exposure within contracts that provide primarily prospective coverage. These contracts are included in the prospective reinsurance tables above. These contracts are typically part of prospective reinsurance contracts with a small portion of retroactive exposure resulting from the delay between the dates when the relevant contract was bound and the dates on which each incepted. The information below includes loss and loss adjustment expenses incurred, net and loss and loss adjustment expenses paid, net, by accident year for the Company's retroactive reinsurance contracts presented by year of inception of the retroactive reinsurance contracts.

The Company's estimate for loss and loss adjustment expenses incurred, net, at inception of all retroactive reinsurance contracts entered into to date was the same when the contract incepted and at the relevant year end position. As a result, there was no development in the year of inception for any of the Company's retroactive reinsurance contracts written to date. In addition, there were no loss and loss adjustment expenses paid, net, at inception of the Company's retroactive reinsurance contracts. The information related to loss and loss adjustment expenses incurred, net and net loss and loss adjustment expenses paid for the years ended December 31, 2012 through 2018 is presented as supplementary information and is unaudited.

Retroactive contracts incepting in the year ended December 31, 2012

The Company did not enter into any retroactive reinsurance contracts during the year ended December 31, 2012.

Retroactive contracts incepting in the year ended December 31, 2013

Loss and loss adjustment expenses incurred, net
Accident year	2013		2014		2015		2016		2017		2018		2019		IBNR loss and LAE reserves, net
	<---------------------------------------- Unaudited ---------------------------------------->
2010	$	914	$	704	$	704	$	704	$	704	$	704	$	704	$	—
2011	5,419		4,173		4,173		4,173		4,173		4,173		4,173		—
2012	10,197		7,853		7,853		7,853		7,853		7,853		7,853		—
2013	4,908		3,779		3,779		3,779		3,779		3,779		3,779		—
2014	—		—		—		—		—		—		—		—
2015	—		—		—		—		—		—		—		—
2016	—		—		—		—		—		—		—		—
2017	—		—		—		—		—		—		—		—
2018	—		—		—		—		—		—		—		—
2019	—		—		—		—		—		—		—		—
Total													$	16,509	$	—
Cumulative net loss and loss adjustment expenses paid
Accident year	2013		2014		2015		2016		2017		2018		2019
	<---------------------------------------- Unaudited ---------------------------------------->
2010	$	—	$	279	$	704	$	704	$	704	$	704	$	704
2011	—		1,654		4,173		4,173		4,173		4,173		4,173
2012	—		3,113		7,853		7,853		7,853		7,853		7,853
2013	—		1,498		3,779		3,779		3,779		3,779		3,779
2014	—		—		—		—		—		—		—
2015	—		—		—		—		—		—		—
2016	—		—		—		—		—		—		—
2017	—		—		—		—		—		—		—
2018	—		—		—		—		—		—		—
2019	—		—		—		—		—		—		—
Total													$	16,509
Net reserves for loss and loss adjustment expenses from 2010 to 2019													—
Net reserves for loss and loss adjustment expenses prior to 2010													9,524
Retroactive contracts incepting in the year ended December 31, 2013 - net reserves for loss and loss adjustment expenses, end of year													$	9,524

Retroactive contracts incepting in the year ended December 31, 2014

Loss and loss adjustment expenses incurred, net
Accident year	2014		2015		2016		2017		2018		2019		IBNR loss and LAE reserves, net
	<------------------------------ Unaudited ------------------------------>
2010	$	444	$	—	$	—	$	—	$	—	$	—	$	—
2011	4,239		3,455		3,057		3,252		2,884		1,529		1,529
2012	12,173		10,794		9,553		10,162		9,011		4,778		4,778
2013	18,907		16,929		14,982		15,938		14,132		7,493		7,493
2014	10,700		9,590		8,487		9,028		8,005		4,245		4,245
2015	—		—		—		—		—		—		—
2016	—		—		—		—		—		—		—
2017	—		—		—		—		—		—		—
2018	—		—		—		—		—		—		—
2019	—		—		—		—		—		—		—
Total											$	18,045	$	18,045
Cumulative net loss and loss adjustment expenses paid
Accident year	2014		2015		2016		2017		2018		2019
	<------------------------------ Unaudited ------------------------------>
2010	$	—	$	—	$	—	$	—	$	—	$	—
2011	—		—		—		—		—		—
2012	—		—		—		—		—		—
2013	—		—		—		—		—		—
2014	—		—		—		—		—		—
2015	—		—		—		—		—		—
2016	—		—		—		—		—		—
2017	—		—		—		—		—		—
2018	—		—		—		—		—		—
2019	—		—		—		—		—		—
Total											$	—
Net reserves for loss and loss adjustment expenses from 2010 to 2019											18,045
Net reserves for loss and loss adjustment expenses prior to 2010											—
Retroactive contracts incepting in the year ended December 31, 2014 - net reserves for loss and loss adjustment expenses, end of year											$	18,045

Retroactive contracts incepting in the year ended December 31, 2015

Loss and loss adjustment expenses incurred, net
Accident year	2015		2016		2017		2018		2019		IBNR loss and LAE reserves, net
	<------------------- Unaudited ------------------->
2010	$	5,324	$	5,324	$	3,932	$	3,561	$	2,225	$	2,225
2011	10,165		10,165		7,703		7,318		4,509		4,509
2012	14,952		14,952		11,470		11,132		6,817		6,817
2013	18,435		18,435		14,162		13,779		8,432		8,432
2014	40,654		40,654		31,500		31,098		18,953		18,953
2015	2,596		2,596		1,788		1,395		913		913
2016	—		—		—		—		—		—
2017	—		—		—		—		—		—
2018	—		—		—		—		—		—
2019	—		—		—		—		—		—
Total									$	41,849	$	41,849
Cumulative net loss and loss adjustment expenses paid
Accident year	2015		2016		2017		2018		2019
	<------------------- Unaudited ------------------->
2010	$	—	$	—	$	—	$	—	$	—
2011	—		—		—		—		—
2012	—		—		—		—		—
2013	—		—		—		—		—
2014	—		—		—		—		—
2015	—		—		—		—		—
2016	—		—		—		—		—
2017	—		—		—		—		—
2018	—		—		—		—		—
2019	—		—		—		—		—
Total									$	—
Net reserves for loss and loss adjustment expenses from 2010 to 2019									41,849
Net reserves for loss and loss adjustment expenses prior to 2010									1,757
Retroactive contracts incepting in the year ended December 31, 2015 - net reserves for loss and loss adjustment expenses, end of year									$	43,606

Retroactive contracts incepting in the year ended December 31, 2016

The Company did not enter into any retroactive reinsurance contracts during the year ended December 31, 2016.

Retroactive contracts incepting in the year ended December 31, 2017

Loss and loss adjustment expenses incurred, net
Accident year	2017		2018		2019		IBNR loss and LAE reserves, net
	<--- Unaudited --->
2010	$	442	$	371	$	237	$	237
2011	1,648		1,567		966		966
2012	2,185		2,110		1,295		1,295
2013	3,358		3,264		2,000		2,000
2014	9,582		9,453		5,768		5,768
2015	12,597		12,398		7,570		7,570
2016	23,854		23,617		14,397		14,397
2017	48,877		48,888		29,719		29,719
2018	—		—		—		—
2019	—		—		—		—
Total					$	61,952	$	61,952
Cumulative net loss and loss adjustment expenses paid
Accident year	2017		2018		2019
	<--- Unaudited --->
2010	$	—	$	—	$	—
2011	—		—		—
2012	—		—		—
2013	—		—		—
2014	—		—		—
2015	—		—		—
2016	—		—		—
2017	—		—		—
2018	—		—		—
2019	—		—		—
Total					$	—
Net reserves for loss and loss adjustment expenses from 2010 to 2019					61,952
Net reserves for loss and loss adjustment expenses prior to 2010					256
Retroactive contracts incepting in the year ended December 31, 2017 - net reserves for loss and loss adjustment expenses, end of year					$	62,208

Retroactive contracts incepting in the year ended December 31, 2018

Loss and loss adjustment expenses incurred, net
Accident year	2018		2019		IBNR loss and LAE reserves, net
	Unaudited
2010	$	221	$	147	$	140
2011	200		131		128
2012	442		367		103
2013	2,230		2,007		148
2014	5,809		5,288		241
2015	12,754		11,692		331
2016	19,431		17,871		364
2017	17,257		15,889		279
2018	14,880		13,759		101
2019	—		—		—
Total			$	67,151	$	1,835
Cumulative net loss and loss adjustment expenses paid
Accident year	2018		2019
	Unaudited
2010	$	—	$	7
2011	—		3
2012	—		264
2013	—		1,859
2014	—		5,047
2015	—		11,361
2016	—		17,507
2017	—		15,610
2018	—		13,658
2019	—		—
Total			$	65,316
Net reserves for loss and loss adjustment expenses from 2010 to 2019			1,835
Net reserves for loss and loss adjustment expenses prior to 2010			208
Retroactive contracts incepting in the year ended December 31, 2018 - net reserves for loss and loss adjustment expenses, end of year			$	2,043

Retroactive contracts incepting in the year ended December 31, 2019

Loss and loss adjustment expenses incurred, net
Accident year	2019		IBNR loss and LAE reserves, net
2010	$	945	$	945
2011	2,064		2,064
2012	1,211		1,211
2013	1,983		1,983
2014	4,328		4,328
2015	6,197		6,197
2016	10,858		10,858
2017	12,908		12,908
2018	16,769		16,769
2019	35,527		35,527
Total	$	92,790	$	92,790
Cumulative net loss and loss adjustment expenses paid
Accident year	2019
2010	$	—
2011	—
2012	—
2013	—
2014	—
2015	—
2016	—
2017	—
2018	—
2019	—
Total	$	—
Net reserves for loss and loss adjustment expenses from 2010 to 2019	92,790
Net reserves for loss and loss adjustment expenses prior to 2010	1,643
Retroactive contracts incepting in the year ended December 31, 2019 - net reserves for loss and loss adjustment expenses, end of year	$	94,433

Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Table Text Block]

The following table provides a reconciliation of the Company's loss and loss expense reserves as of December 31, 2019:

	2019
Prospective reinsurance contracts
Property Catastrophe	$	38,781
Other Property	60,137
Workers’ Compensation	83,031
Auto	26,467
Other Casualty	326,351
Credit & Financial Lines	31,696
Multi-line	286,768
Other Specialty	16,344
Retroactive reinsurance contracts
Retroactive contracts incepting in the year ended December 31, 2012	—
Retroactive contracts incepting in the year ended December 31, 2013	9,524
Retroactive contracts incepting in the year ended December 31, 2014	18,045
Retroactive contracts incepting in the year ended December 31, 2015	43,606
Retroactive contracts incepting in the year ended December 31, 2016	—
Retroactive contracts incepting in the year ended December 31, 2017	62,208
Retroactive contracts incepting in the year ended December 31, 2018	2,043
Retroactive contracts incepting in the year ended December 31, 2019	94,433
Net reserves for loss and loss adjustment expenses, end of year	1,099,434
Loss and loss adjustment expenses recoverable
Property	5,520
Deferred charges on retroactive reinsurance contracts	6,738
Gross reserves for loss and loss adjustment expenses, end of year	$	1,111,692

Schedule of percentage annual payout on losses

The following table is presented as supplementary information and presents the Company’s historical average annual percentage payout of loss and loss adjustment expenses incurred, net by age, as of December 31, 2019:

	Year 1		Year 2		Year 3		Year 4		Year 5		Year 6		Year 7		Year 8
	(Unaudited)
Prospective reinsurance contracts
Property Catastrophe	1.2	%	—	%	—	%	—	%	—	%	—	%	—	%	—	%
Other Property	48.6	%	28.4	%	8.8	%	5.4	%	2.6	%	1.3	%	0.8	%	—	%
Workers’ Compensation	9.3	%	21.8	%	22.5	%	16.2	%	10.8	%	2.9	%	4.6	%	4.0	%
Auto	45.4	%	43.6	%	7.0	%	1.8	%	0.5	%	—	%	0.2	%	—	%
Other Casualty	1.5	%	7.4	%	13.4	%	14.8	%	13.6	%	9.9	%	—	%	—	%
Credit & Financial Lines	9.3	%	23.6	%	28.5	%	12.7	%	3.6	%	0.1	%	(0.3	)%	—	%
Multi-line	21.1	%	27.3	%	21.8	%	(0.1	)%	2.1	%	0.4	%	—	%	—	%
Other Specialty	6.2	%	42.1	%	3.7	%	—	%	—	%	—	%	—	%	—	%
Retroactive reinsurance contracts
Retroactive contracts incepting in the year ended December 31, 2012	n/a		n/a		n/a		n/a		n/a		n/a		n/a		n/a
Retroactive contracts incepting in the year ended December 31, 2013	4.4	%	23.9	%	31.7	%	4.7	%	3.5	%	2.6	%	3.3	%	n/a
Retroactive contracts incepting in the year ended December 31, 2014	—	%	—	%	—	%	—	%	—	%	—	%	n/a		n/a
Retroactive contracts incepting in the year ended December 31, 2015	—	%	—	%	—	%	—	%	—	%	n/a		n/a		n/a
Retroactive contracts incepting in the year ended December 31, 2016	n/a		n/a		n/a		n/a		n/a		n/a		n/a		n/a
Retroactive contracts incepting in the year ended December 31, 2017	—	%	—	%	—	%	n/a		n/a		n/a		n/a		n/a
Retroactive contracts incepting in the year ended December 31, 2018	—	%	97.0	%	n/a		n/a		n/a		n/a		n/a		n/a
Retroactive contracts incepting in the year ended December 31, 2019	—	%	n/a		n/a		n/a		n/a		n/a		n/a		n/a