LIABILITY FOR LOSSES AND SETTLEMENT EXPENSES (Tables)

3 Months Ended

Mar. 31, 2017

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.

	Three months ended March 31,
($ in thousands)	2017			2016
Gross reserves at beginning of year	$	690,532		$	678,774
Re-valuation due to foreign currency exchange rates	(1,913		)	(2,475		)
Less ceded reserves at beginning of year	20,664			23,477
Net reserves at beginning of year	671,781			657,772
Incurred losses and settlement expenses related to:
Current year	111,189			92,861
Prior years	(14,904		)	(7,752		)
Total incurred losses and settlement expenses	96,285			85,109
Paid losses and settlement expenses related to:
Current year	22,923			18,536
Prior years	69,826			61,418
Total paid losses and settlement expenses	92,749			79,954
Net reserves at end of period	675,317			662,927
Plus ceded reserves at end of period	20,788			20,802
Re-valuation due to foreign currency exchange rates	(976		)	(2,150		)
Gross reserves at end of period	$	695,129		$	681,579