Losses and Loss Adjustment Expenses (Tables)

3 Months Ended

Mar. 31, 2019

Reconciliation of Beginning and Ending Unpaid Losses and Loss Adjustment Expense Reserve Balances

The following tables provide a reconciliation of our beginning and ending unpaid losses and loss adjustment expense reserve balances for the interim periods ended March 31, 2019 and 2018.

	2019		2018
Balance at January 1	$	68,392,333	$	68,374,554
Less: Reinsurance recoverable on liability for losses and loss adjustment expenses		7,956,043		8,585,851
Add: Reinsurance recoverable on claims paid		5,791		1,196,573
Net liability at January 1		60,442,081		60,985,276
Losses and loss adjustment expenses incurred, net:
Current period		3,321,676		3,349,701
Prior periods		—		—
Total incurred losses and loss adjustment expenses		3,321,676		3,349,701
Less losses and loss adjustment expenses paid, net:
Current period		79,592		17,060
Prior periods		5,013,009		3,568,087
Total losses and loss adjustment expenses paid		5,092,601		3,585,147
Net liability for liability for losses and loss adjustment expenses, at end of period		58,671,156		60,749,830
Add: Reinsurance recoverable on liability for losses and loss adjustment expenses		8,207,848		8,292,102
Less: Reinsurance recoverable on claims paid		257,892		545,506
Liability for losses and loss adjustment expenses, March 31	$	66,621,112	$	68,496,426