Losses and Loss Adjustment Expenses (Tables)

6 Months Ended

Jun. 30, 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 six months ended June 30, 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		7,405,688		6,252,532
Prior periods		183,428		1,735,552
Total incurred losses and loss adjustment expenses		7,589,116		7,988,084
Less losses and loss adjustment expenses paid, net:
Current period		203,366		133,579
Prior periods		9,246,084		7,849,105
Total losses and loss adjustment expenses paid		9,449,450		7,982,684
Net liability for losses and loss adjustment expenses, at end of period		58,581,747		60,990,676
Add: Reinsurance recoverable on liability for losses and loss adjustment expenses		9,640,117		7,974,890
Less: Reinsurance recoverable on claims paid		730,104		(450,355	)
Liability for losses and loss adjustment expenses, June 30	$	67,491,760	$	69,415,921