LIABILITY FOR LOSSES AND SETTLEMENT EXPENSES (Tables)

12 Months Ended

Dec. 31, 2015

Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]

Schedule of reconciliation of beginning and ending reserves for losses and settlement expenses

The following table sets forth a reconciliation of beginning and ending reserves for losses and settlement expenses of the Company.  Amounts presented are on a net basis, with a reconciliation of beginning and ending reserves to the gross amounts presented in the consolidated financial statements.

	Year ended December 31,
($ in thousands)	2015			2014			2013
Gross reserves at beginning of year	$	661,309		$	610,181		$	583,097
Re-valuation due to foreign currency exchange rates	(2,061		)	333			(2		)
Less ceded reserves at beginning of year	28,253			30,118			31,390
Net reserves at beginning of year	635,117			579,730			551,709
Incurred losses and settlement expenses related to:
Current year	405,850			406,266			346,072
Prior years	(35,114		)	(20,792		)	(12,785		)
Total incurred losses and settlement expenses	370,736			385,474			333,287
Paid losses and settlement expenses related to:
Current year	154,958			162,905			137,998
Prior years	193,123			167,182			167,268
Total paid losses and settlement expenses	348,081			330,087			305,266
Net reserves at end of year	657,772			635,117			579,730
Plus ceded reserves at end of year	23,477			28,253			30,118
Re-valuation due to foreign currency exchange rates	(2,475		)	(2,061		)	333
Gross reserves at end of year	$	678,774		$	661,309		$	610,181

Summary of the approximation of the implied favorable development that had an impact on earnings

The following table presents the reported amounts of favorable development experienced on prior years’ reserves and the portion of the reported development amounts that resulted solely from changes in the allocation of bulk reserves between the current and prior accident years (no impact on earnings).  The result is an approximation of the implied amounts of favorable development that had an impact on earnings.

	Year ended December 31,
($ in thousands)	2015			2014			2013
Reported amount of favorable development experienced on prior years' reserves	$	(35,114	)	$	(20,792	)	$	(12,785	)
Adjustment for (adverse) favorable development included in the reported development amount that had no impact on earnings	(618		)	2,151			6,526
Approximation of the implied amount of favorable development that had an impact on earnings	$	(35,732	)	$	(18,641	)	$	(6,259	)