Reserves for unpaid losses and loss adjustment expenses Reserve Development (Tables)

12 Months Ended

Dec. 31, 2019

Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability

The reconciliation of the net incurred and paid claims development tables to the liability for claims and claim adjustment expenses in the consolidated statement of financial position is as follows:



(in thousands)	December 31, 2019
Net outstanding liabilities
Property	$	5,507
Casualty - claims made	64,929
Casualty - occurrence	285,672
Liabilities for unpaid claims and claim adjustment expenses, net of reinsurance	356,108

Reinsurance recoverable on unpaid claims
Property	3,119
Casualty - claims made	9,852
Casualty - occurrence	56,821
Total reinsurance recoverable on unpaid claims	69,792
Unallocated claims adjustment expenses	34,158
Gross liability for unpaid claims and claim adjustment expense	$	460,058

Property [Member]

Claims Development

Short-duration Insurance Contracts, Claims Development

Property



	Incurred Claims and Claim Adjustment Expenses, Net of Reinsurance
	For the Years Ended December 31,										As of December 31, 2019
Accident Year	2015 Unaudited		2016 Unaudited		2017 Unaudited		2018 Unaudited		2019		Total of IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
	($ in thousands)
2015	$	1,394	$	880	$	857	$	872	$	869	$	—	63
2016			4,177		3,392		3,301		3,278		14		286
2017					12,473		11,705		11,676		65		1,038
2018							11,559		12,004		236		643
2019									14,914		2,384		598
							Total		$	42,741



	Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the Years Ended December 31,
Accident Year	2015 Unaudited		2016 Unaudited		2017 Unaudited		2018 Unaudited		2019
	($ in thousands)
2015	$	584	$	706	$	832	$	865	$	869
2016			1,867		3,257		3,265		3,265
2017					9,938		11,233		11,602
2018							9,132		11,646
2019									9,852
							Total		37,234
			All outstanding liabilities before 2015, net of reinsurance						—
			Liabilities for claims and claim adjustment expenses, net of reinsurance						$	5,507

Short-duration Insurance Contracts, Schedule of Historical Claims Duration

The following is supplementary information about average historical claims duration as of December 31, 2019:



Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
	(Unaudited)
Years	1		2		3		4		5
Property	70.3	%	22.1	%	5.9	%	1.9	%	0.4	%

Casualty - claims made [Member]

Claims Development

Short-duration Insurance Contracts, Claims Development

Casualty - Claims Made



	Incurred Claims and Claim Adjustment Expenses, Net of Reinsurance
	For the Years Ended December 31,																				As of December 31, 2019
Accident Year	2010 Unaudited		2011 Unaudited		2012 Unaudited		2013 Unaudited		2014 Unaudited		2015 Unaudited		2016 Unaudited		2017 Unaudited		2018 Unaudited		2019		Total of IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
	($ in thousands)
2010	$	778	$	805	$	679	$	737	$	946	$	916	$	894	$	883	$	876	$	872	$	13	14
2011			4,246		3,844		3,646		3,609		3,560		3,374		3,261		3,225		3,206		102		76
2012					7,913		5,749		4,205		3,102		2,845		2,477		2,314		2,207		261		138
2013							15,238		11,639		9,113		7,917		7,002		6,463		6,128		629		228
2014									18,847		14,289		11,748		11,217		10,948		10,988		1,239		273
2015											18,883		16,777		14,896		13,583		13,942		2,024		257
2016													19,170		14,694		14,675		14,322		3,248		309
2017															18,116		17,096		16,121		5,024		366
2018																	22,429		20,235		10,949		448
2019																			34,693		27,450		504
																	Total		$	122,714



	Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the Years Ended December 31,
Accident Year	2010 Unaudited		2011 Unaudited		2012 Unaudited		2013 Unaudited		2014 Unaudited		2015 Unaudited		2016 Unaudited		2017 Unaudited		2018 Unaudited		2019
	($ in thousands)
2010	$	—	$	79	$	368	$	393	$	862	$	859	$	859	$	859	$	859	$	859
2011			139		1,037		1,392		2,116		3,044		3,042		3,042		3,065		3,104
2012					153		475		877		1,024		1,090		1,882		1,946		1,946
2013							499		1,915		4,436		5,070		5,320		5,439		5,482
2014									435		1,865		5,039		6,384		8,290		9,415
2015											217		4,496		7,562		9,238		11,371
2016													1,158		3,015		6,907		9,839
2017															340		4,897		8,252
2018																	507		5,030
2019																			2,487
																	Total		57,785
			Liabilities for claims and claim adjustment expenses, net of reinsurance																$	64,929

Casualty - occurrence [Member]

Claims Development

Short-duration Insurance Contracts, Claims Development

Casualty - Occurrence



	Incurred Claims and Claim Adjustment Expenses, Net of Reinsurance
	For the Years Ended December 31,																			As of December 31, 2019
Accident Year	2010 Unaudited		2011 Unaudited		2012 Unaudited		2013 Unaudited		2014 Unaudited		2015 Unaudited		2016 Unaudited		2017 Unaudited		2018 Unaudited	2019		Total of IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
	($ in thousands)
2010	$	843	$	771	$	531	$	460	$	458	$	404	$	406	$	429	402	$	406	$	59	49
2011			5,839		5,940		5,757		7,340		7,613		8,142		8,375		9,023	9,379		471		226
2012					16,977		17,436		18,803		20,401		20,579		22,001		22,401	23,223		1,716		581
2013							30,616		28,771		28,037		29,039		31,731		33,248	33,973		4,016		840
2014									47,805		40,668		38,049		36,678		39,313	41,859		7,980		1,158
2015											59,717		51,739		49,122		52,100	54,697		13,117		1,322
2016													61,440		55,680		53,549	55,534		19,588		1,318
2017															71,126		67,151	68,985		33,798		1,373
2018																	86,157	78,331		56,169		1,297
2019																		112,266		99,970		951
																	Total	$	478,653



	Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the Years Ended December 31,
Accident Year	2010 Unaudited		2011 Unaudited		2012 Unaudited		2013 Unaudited		2014 Unaudited		2015 Unaudited		2016 Unaudited		2017 Unaudited		2018 Unaudited	2019
	($ in thousands)
2010	$	4	$	37	$	59	$	113	$	263	$	261	$	273	$	313	346	347
2011			207		1,596		2,519		3,788		4,575		6,363		6,868		8,510	8,693
2012					757		4,441		7,850		11,238		14,382		16,474		19,383	20,707
2013							1,099		4,469		7,957		14,890		21,348		26,715	28,248
2014									698		3,081		8,489		17,576		23,771	31,026
2015											941		3,161		12,685		28,385	37,690
2016													1,099		6,015		17,225	28,924
2017															1,581		9,352	22,407
2018																	2,638	10,995
2019																		3,944
																	Total	192,981
					Liabilities for claims and claim adjustment expenses, net of reinsurance													$	285,672

Casualty [Member]

Claims Development

Short-duration Insurance Contracts, Schedule of Historical Claims Duration

The following is supplementary information about average historical claims duration as of December 31, 2019:



	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
	(Unaudited)
Years	1		2		3		4		5		6		7		8		9		10
Casualty - claims made	4.5	%	20.2	%	25.3	%	12.5	%	20.4	%	9.5	%	0.9	%	0.2	%	0.6	%	—	%
Casualty - occurrence	2.4	%	9.9	%	13.7	%	19.0	%	18.3	%	12.1	%	6.3	%	11.1	%	5.1	%	—	%