XML 58 R37.htm IDEA: XBRL DOCUMENT v3.22.0.1
Liability for Loss and LAE (Tables)
 12 Months Ended
Dec. 31, 2021
Activity in Liability for Loss and Loss Adjustment Expense

The following table presents the activity in the liability for loss and LAE in 2021, 2020 and 2019:

 

 

 

Year Ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

 

 

($ in millions)

 

Reserves as of January 1

 

$

12,970.6

 

 

$

11,928.4

 

 

$

12,250.3

 

Less: reinsurance recoverables(1)

 

 

1,703.7

 

 

 

1,583.9

 

 

 

1,857.4

 

Net reserves as of January 1

 

 

11,266.9

 

 

 

10,344.5

 

 

 

10,392.9

 

 

 

 

 

 

 

 

 

 

 

Other adjustments

 

 

0.1

 

 

 

(4.0

)

 

 

(2.3

)

 

 

 

 

 

 

 

 

 

 

Incurred loss and LAE, net of reinsurance, related to:

 

 

 

 

 

 

 

 

 

Current year

 

 

5,084.6

 

 

 

4,559.9

 

 

 

3,871.1

 

Prior years

 

 

(249.7

)

 

 

(220.8

)

 

 

(184.7

)

Total incurred loss and LAE, net of reinsurance

 

 

4,834.9

 

 

 

4,339.1

 

 

 

3,686.4

 

 

 

 

 

 

 

 

 

 

 

Paid loss and LAE, net of reinsurance, related to:(2)

 

 

 

 

 

 

 

 

 

Current year

 

 

1,032.8

 

 

 

931.7

 

 

 

884.6

 

Prior years

 

 

2,655.9

 

 

 

2,571.8

 

 

 

2,839.9

 

Total paid loss and LAE, net of reinsurance

 

 

3,688.7

 

 

 

3,503.5

 

 

 

3,724.5

 

 

 

 

 

 

 

 

 

 

 

Foreign currency exchange rate effect

 

 

(81.7

)

 

 

90.8

 

 

 

(8.0

)

 

 

 

 

 

 

 

 

 

 

Net reserves as of December 31

 

 

12,331.5

 

 

 

11,266.9

 

 

 

10,344.5

 

Reinsurance recoverables as of December 31(1)

 

 

2,026.1

 

 

 

1,703.7

 

 

 

1,583.9

 

Reserves as of December 31

 

$

14,357.6

 

 

$

12,970.6

 

 

$

11,928.4

 

 

(1)
Reinsurance recoverables in this table include only ceded loss and LAE reserves.
Includes paid loss and LAE, net of reinsurance, related to commutations.
(Favorable) Unfavorable Prior Accident Year Loss Reserve Development

The following table presents the (favorable) unfavorable prior accident year loss reserve development for 2021, 2020 and 2019:

 

 

 

Year Ended December,

 

 

 

 

2021

 

 

2020

 

 

2019

 

 

 

 

($ in millions)

Reinsurance Segment

 

 

 

 

 

 

 

 

 

 

Property:

 

 

 

 

 

 

 

 

 

 

Catastrophe events (excluding Pandemic)

 

$

(35.5

)

(1)

$

(43.3

)

(2)

$

(6.8

)

(3)

Pandemic

 

 

62.6

 

 

 

-

 

 

 

-

 

 

Non-catastrophe

 

 

(50.9

)

(4)

 

(33.6

)

(5)

 

(39.4

)

(6)

Total

 

 

(23.8

)

 

 

(76.9

)

 

 

(46.2

)

 

Casualty & specialty:

 

 

 

 

 

 

 

 

 

 

Catastrophe events (excluding Pandemic)

 

 

(0.4

)

 

 

(5.9

)

 

 

(4.4

)

 

Pandemic

 

 

(48.9

)

 

 

—

 

 

 

—

 

 

Non-catastrophe

 

 

(176.5

)

(7)

 

(124.1

)

(8)

 

(145.2

)

(9)

Total

 

 

(225.8

)

 

 

(130.0

)

 

 

(149.6

)

 

Total Reinsurance Segment

 

 

(249.6

)

 

 

(206.9

)

 

 

(195.8

)

 

 

 

 

 

 

 

 

 

 

 

 

Insurance Segment

 

 

 

 

 

 

 

 

 

 

RSUI:

 

 

 

 

 

 

 

 

 

 

Casualty

 

 

5.0

 

(10)

 

1.8

 

(11)

 

(16.3

)

(12)

Property and other

 

 

(11.1

)

(13)

 

(14.6

)

(14)

 

(1.2

)

(15)

Total

 

 

(6.1

)

 

 

(12.8

)

 

 

(17.5

)

 

CapSpecialty:

 

 

 

 

 

 

 

 

 

 

Ongoing lines of business

 

 

6.1

 

(16)

 

(2.0

)

(17)

 

26.1

 

(18)

Terminated Program(19)

 

 

(0.1

)

 

 

0.9

 

 

 

3.0

 

 

Asbestos-related illness and environmental impairment liability

 

 

—

 

 

 

—

 

 

 

(0.5

)

 

Total

 

 

6.0

 

 

 

(1.1

)

 

 

28.6

 

 

Total incurred related to prior years

 

$

(249.7

)

 

$

(220.8

)

 

$

(184.7

)

 

 

(1)
Primarily reflects favorable prior accident year loss reserve development related to catastrophic events in the 2018 accident year, partially offset by unfavorable prior accident year loss reserve development related to Hurricane Laura and Sally in the 2020 accident year.
(2)
Primarily reflects favorable prior accident year loss reserve development related to Typhoon Hagibis in the 2019 accident year and wildfires in California in the 2017 and 2018 accident years, partially offset by unfavorable prior accident year loss reserve development related to Hurricane Irma in the 2017 accident year and Typhoon Faxai in the 2019 accident year.
(3)
Primarily reflects favorable prior accident year loss reserve development related to wildfires in California in the 2018 accident year, partially offset by unfavorable prior accident year loss reserve development related to Typhoon Jebi in the 2018 accident year and Hurricane Irma in the 2017 accident year.
(4)
Primarily reflects favorable prior accident year loss reserve development in the 2020 accident year.
(5)
Primarily reflects favorable prior accident year loss reserve development in the 2017 accident year.
(6)
Primarily reflects favorable prior accident year loss reserve development in the 2016 and 2017 accident years, partially offset by unfavorable prior accident year loss reserve development in the 2018 accident year.
(7)
Primarily reflects favorable prior accident year loss reserve development in the shorter-tailed lines of business in the 2020 accident year and in both the longer- and shorter-tailed lines of business in the 2015 and earlier accident years, partially offset by unfavorable prior accident year loss reserve development in the longer-tailed lines of business in the 2016 to 2018 accident years.
(8)
Primarily reflects favorable prior accident year loss reserve development in the longer-tailed casualty lines of business in the 2014 and prior accident years and, to a lesser extent, shorter-tailed lines of business in the 2014 and prior accident years, partially offset by unfavorable prior accident year loss reserve development in the marine and aviation lines of business in the 2018 accident year.
(9)
Primarily reflects favorable prior accident year loss reserve development in the longer-tailed casualty lines of business in the 2014 and prior accident years and, to a lesser extent, shorter-tailed lines of business in the 2014 and prior accident years, partially offset by unfavorable prior accident year loss reserve development in the marine and aviation lines of business in the 2018 accident year.
(10)
Primarily reflects unfavorable prior accident year loss reserve development in the directors’ and officers’ liability lines of business in the 2012 and 2014 accident years and, to a lesser extent, the general liability and binding authority lines of business in earlier accident years, partially offset by favorable prior accident year loss reserve development in the umbrella/excess lines of business in the 2005 through 2015 accident years.
(11)
Primarily reflects unfavorable prior accident year loss reserve development in the professional liability lines of business in the 2017 through 2019 accident years, partially offset by favorable prior accident year loss reserve development in the directors’ and officers’ liability and umbrella/excess lines of business in the 2011 through 2015 accident years.
(12)
Primarily reflects favorable prior accident year loss reserve development in the directors’ and officers’ liability and umbrella/excess lines of business in the 2011 through 2015 accident years, partially offset by unfavorable prior accident year loss reserve development in the professional liability lines of business in the 2016 through 2018 accident years.
(13)
Primarily reflects favorable prior accident year loss reserve development related to losses not classified as catastrophes in recent accident years and, to a lesser extent, catastrophes in the 2017, 2018 and 2019 accident years, partially offset by unfavorable prior accident year loss reserve development related to catastrophes in the 2020 accident year.
(14)
Primarily reflects favorable prior accident year loss reserve development related to U.S. catastrophe losses in the 2018 accident year and, to a lesser extent, favorable prior accident year loss reserve development related to the assumed property reinsurance lines of business from catastrophe losses in the 2019 and 2018 accident years.
(15)
Primarily reflects favorable prior accident year loss reserve development related to Superstorm Sandy in the 2012 accident year, Hurricanes Florence and Michael in the 2018 accident year and Hurricanes Harvey and Maria in the 2017 accident year, partially offset by unfavorable prior accident year loss reserve development related to assumed property reinsurance lines of business from both catastrophe and non-catastrophe losses in the 2018 accident year.
(16)
Primarily reflects unfavorable prior accident year loss reserve development in the healthcare, construction liability and other casualty lines of business in the 2015 through 2017 accident years.
(17)
Primarily reflects favorable prior accident year loss reserve development in the surety lines of business in recent accident years.
(18)
Primarily reflects unfavorable prior accident loss reserve development related to the professional liability and other casualty lines of business in the 2015 through 2018 accident years.
(19)
Represents certain specialty lines of business written through a program administrator in connection with a terminated program in the 2010 and 2009 accident years and reflects favorable loss emergence compared with loss emergence patterns assumed in earlier periods for such business.
Loss and LAE Reserve Summary and Reconciliation to Consolidated Balance Sheet

Loss and LAE Reserve Summary and Reconciliation to Consolidated Balance Sheet

 

 

 

Unpaid loss and LAE as of December 31, 2021(1)

 

 

 

Gross Loss and
LAE Reserves

 

 

Reinsurance
Recoverables
on Unpaid
Losses

 

 

Net Loss and
LAE Reserves

 

 

 

($ in millions)

 

Reinsurance Segment:

 

 

 

 

 

 

 

 

 

Property

 

$

2,599.4

 

 

$

641.1

 

 

$

1,958.3

 

Casualty & specialty - Longer-Tailed Lines of Business

 

 

5,264.9

 

 

 

144.4

 

 

 

5,120.5

 

Casualty & specialty - Shorter-Tailed Lines of Business

 

 

2,883.9

 

 

 

261.6

 

 

 

2,622.3

 

 

 

 

10,748.2

 

 

 

1,047.1

 

 

 

9,701.1

 

 

 

 

 

 

 

 

 

 

 

Insurance Segment:

 

 

 

 

 

 

 

 

 

RSUI - Property

 

 

617.0

 

 

 

201.5

 

 

 

415.5

 

RSUI - Casualty

 

 

2,399.2

 

 

 

750.8

 

 

 

1,648.4

 

RSUI

 

 

3,016.2

 

 

 

952.3

 

 

 

2,063.9

 

 

 

 

 

 

 

 

 

 

 

CapSpecialty

 

 

669.8

 

 

 

103.3

 

 

 

566.5

 

 

 

 

3,686.0

 

 

 

1,055.6

 

 

 

2,630.4

 

 

 

 

 

 

 

 

 

 

 

Eliminations

 

 

(76.6

)

 

 

(76.6

)

 

 

—

 

Total

 

$

14,357.6

 

 

$

2,026.1

 

 

$

12,331.5

 

 

Includes unallocated LAE, which aggregate to 1.0 percent of gross loss and LAE reserves as of December 31, 2021. Net loss and LAE reserves by component are shown in the preceding tables, and consolidated gross loss and LAE reserves is presented in the consolidated balance sheets.
Average Historical Loss and LAE Duration

The following table presents supplemental information about average historical loss and LAE duration, net of reinsurance, as of December 31, 2021.

 

 

 

 

 

Average Annual Percentage Payout of Loss and LAE Incurred, Net of Reinsurance

 

 

 

 

 

As of December 31, 2021

 

 

 

Years

 

1

 

 

2

 

 

3

 

 

4

 

 

5

 

 

6

 

 

7

 

 

8

 

 

9

 

 

10

 

Reinsurance Segment:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property

 

 

 

 

28.0

%

 

 

40.9

%

 

 

16.9

%

 

 

6.3

%

 

 

2.5

%

 

 

1.2

%

 

 

0.6

%

 

 

0.9

%

 

 

0.2

%

 

 

1.2

%

Casualty & specialty - Longer-Tailed Lines of Business

 

 

4.2

%

 

 

9.0

%

 

 

13.5

%

 

 

15.2

%

 

 

13.6

%

 

 

10.2

%

 

 

7.2

%

 

 

4.8

%

 

 

3.6

%

 

 

3.6

%

Casualty & specialty - Shorter-Tailed Lines of Business

 

 

33.0

%

 

 

28.6

%

 

 

13.5

%

 

 

7.0

%

 

 

4.5

%

 

 

2.7

%

 

 

1.6

%

 

 

1.2

%

 

 

0.7

%

 

 

0.5

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Insurance Segment:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RSUI - Property

 

 

 

 

34.7

%

 

 

13.9

%

 

 

6.1

%

 

 

3.1

%

 

 

2.5

%

 

 

0.8

%

 

 

0.6

%

 

 

0.1

%

 

 

0.2

%

 

 

1.3

%

RSUI - Casualty

 

 

 

 

14.4

%

 

 

17.8

%

 

 

17.3

%

 

 

13.0

%

 

 

10.7

%

 

 

6.3

%

 

 

5.1

%

 

 

3.6

%

 

 

3.9

%

 

 

1.9

%

CapSpecialty

 

 

 

 

19.1

%

 

 

21.6

%

 

 

15.6

%

 

 

13.3

%

 

 

8.2

%

 

 

4.6

%

 

 

1.9

%

 

 

1.1

%

 

 

0.3

%

 

 

0.7

%
Reinsurance Segment | Property  
Supplemental Information About Incurred and Paid Loss and LAE Development and Reconciliation to Consolidated Balance Sheet

Reinsurance Segment

Property

 

 

 

Incurred Loss and LAE, Net of Reinsurance

 

 

As of

 

 

 

Year Ended December 31,

 

 

December 31, 2021

 

Accident
Year

 

2012
(unaudited)

 

 

2013
(unaudited)

 

 

2014
(unaudited)

 

 

2015
(unaudited)

 

 

2016
(unaudited)

 

 

2017
(unaudited)

 

 

2018
(unaudited)

 

 

2019
(unaudited)

 

 

2020
(unaudited)

 

 

2021

 

 

IBNR

 

 

 

($ in millions)

 

2012

 

$

697.2

 

 

$

579.1

 

 

$

530.3

 

 

$

495.6

 

 

$

478.1

 

 

$

469.4

 

 

$

462.5

 

 

$

460.3

 

 

$

454.9

 

 

$

456.1

 

 

$

—

 

2013

 

 

 

 

 

501.2

 

 

 

470.6

 

 

 

444.6

 

 

 

422.1

 

 

 

406.8

 

 

 

403.6

 

 

 

398.1

 

 

 

394.7

 

 

 

394.0

 

 

 

—

 

2014

 

 

 

 

 

 

 

 

496.4

 

 

 

464.8

 

 

 

451.3

 

 

 

435.2

 

 

 

429.8

 

 

 

425.1

 

 

 

419.7

 

 

 

416.2

 

 

 

—

 

2015

 

 

 

 

 

 

 

 

 

 

 

368.8

 

 

 

332.0

 

 

 

320.6

 

 

 

306.3

 

 

 

301.9

 

 

 

297.9

 

 

 

295.5

 

 

 

1.4

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

684.1

 

 

 

647.2

 

 

 

596.7

 

 

 

587.9

 

 

 

577.8

 

 

 

578.1

 

 

 

2.6

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,174.6

 

 

 

1,179.5

 

 

 

1,148.3

 

 

 

1,127.7

 

 

 

1,114.8

 

 

 

20.2

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,152.7

 

 

 

1,169.4

 

 

 

1,147.8

 

 

 

1,116.8

 

 

 

49.1

 

2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

988.7

 

 

 

981.5

 

 

 

972.2

 

 

 

56.0

 

2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,207.5

 

 

 

1,253.5

 

 

 

297.1

 

2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,468.1

 

 

 

640.3

 

Total Incurred Loss and LAE for the 2012 through 2021 accident years

 

 

$

8,065.3

 

 

 

 

 

 

 

Paid Loss and LAE, Net of Reinsurance

 

 

 

Year Ended December 31,

 

Accident
Year

 

2012
(unaudited)

 

 

2013
(unaudited)

 

 

2014
(unaudited)

 

 

2015
(unaudited)

 

 

2016
(unaudited)

 

 

2017
(unaudited)

 

 

2018
(unaudited)

 

 

2019
(unaudited)

 

 

2020
(unaudited)

 

 

2021

 

 

 

($ in millions)

 

2012

 

$

90.3

 

 

$

268.9

 

 

$

377.8

 

 

$

416.7

 

 

$

438.0

 

 

$

448.0

 

 

$

451.2

 

 

$

460.1

 

 

$

461.1

 

 

$

466.6

 

2013

 

 

 

 

 

113.1

 

 

 

277.4

 

 

 

361.0

 

 

 

389.8

 

 

 

396.7

 

 

 

399.7

 

 

 

401.4

 

 

 

403.0

 

 

 

403.9

 

2014

 

 

 

 

 

 

 

 

109.4

 

 

 

297.6

 

 

 

360.0

 

 

 

382.9

 

 

 

394.0

 

 

 

397.3

 

 

 

398.4

 

 

 

399.4

 

2015

 

 

 

 

 

 

 

 

 

 

 

96.0

 

 

 

217.7

 

 

 

278.3

 

 

 

303.1

 

 

 

307.6

 

 

 

308.8

 

 

 

311.9

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

210.5

 

 

 

429.8

 

 

 

504.8

 

 

 

535.1

 

 

 

552.2

 

 

 

563.9

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

324.5

 

 

 

818.5

 

 

 

977.9

 

 

 

1,023.0

 

 

 

1,039.9

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

309.5

 

 

 

811.8

 

 

 

944.2

 

 

 

1,002.3

 

2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

265.1

 

 

 

645.5

 

 

 

793.2

 

2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

301.1

 

 

 

732.1

 

2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

413.5

 

Cumulative Paid Loss and LAE for the 2012 through 2021 accident years

 

 

$

6,126.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total incurred loss and LAE for the 2012 through 2021 accident years

 

 

$

8,065.3

 

Cumulative paid loss and LAE for the 2012 through 2021 accident years

 

 

 

6,126.7

 

Unpaid loss and LAE, net of reinsurance recoverables, for accident years prior to 2012

 

 

 

19.7

 

Unpaid loss and LAE, net of reinsurance recoverables, as of December 31, 2021

 

 

$

1,958.3

 
Reinsurance Segment | Casualty & Other | Longer Tailed Lines of Business  
Supplemental Information About Incurred and Paid Loss and LAE Development and Reconciliation to Consolidated Balance Sheet

Reinsurance Segment

Casualty & specialty – Longer-Tailed Lines of Business(1)

 

 

 

Incurred Loss and LAE, Net of Reinsurance

 

 

As of

 

 

 

Year Ended December 31,

 

 

December 31, 2021

 

Accident
Year

 

2012
(unaudited)

 

 

2013
(unaudited)

 

 

2014
(unaudited)

 

 

2015
(unaudited)

 

 

2016
(unaudited)

 

 

2017
(unaudited)

 

 

2018
(unaudited)

 

 

2019
(unaudited)

 

 

2020
(unaudited)

 

 

2021

 

 

IBNR

 

 

 

($ in millions)

 

2012

 

$

877.5

 

 

$

877.5

 

 

$

875.9

 

 

$

860.8

 

 

$

833.1

 

 

$

829.8

 

 

$

832.4

 

 

$

826.4

 

 

$

819.7

 

 

$

802.3

 

 

$

60.9

 

2013

 

 

 

 

 

798.6

 

 

 

802.2

 

 

 

799.2

 

 

 

777.5

 

 

 

776.7

 

 

 

783.0

 

 

 

767.4

 

 

 

740.5

 

 

 

726.8

 

 

 

100.8

 

2014

 

 

 

 

 

 

 

 

801.8

 

 

 

791.1

 

 

 

794.3

 

 

 

793.9

 

 

 

790.3

 

 

 

784.8

 

 

 

771.7

 

 

 

764.0

 

 

 

126.2

 

2015

 

 

 

 

 

 

 

 

 

 

 

794.8

 

 

 

799.0

 

 

 

797.0

 

 

 

793.7

 

 

 

799.1

 

 

 

799.6

 

 

 

798.2

 

 

 

123.0

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

776.7

 

 

 

776.8

 

 

 

787.4

 

 

 

807.8

 

 

 

842.2

 

 

 

862.9

 

 

 

126.0

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

764.4

 

 

 

765.7

 

 

 

783.4

 

 

 

800.1

 

 

 

824.0

 

 

 

180.3

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

727.3

 

 

 

741.6

 

 

 

752.5

 

 

 

767.4

 

 

 

279.5

 

2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

759.7

 

 

 

761.6

 

 

 

765.4

 

 

 

415.2

 

2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

978.1

 

 

 

952.4

 

 

 

729.1

 

2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,239.9

 

 

 

1,124.0

 

Total Incurred Loss and LAE for the 2012 through 2021 accident years

 

 

$

8,503.3

 

 

 

 

 

 

 

Paid Loss and LAE, Net of Reinsurance

 

 

 

Year Ended December 31,

 

Accident
Year

 

2012
(unaudited)

 

 

2013
(unaudited)

 

 

2014
(unaudited)

 

 

2015
(unaudited)

 

 

2016
(unaudited)

 

 

2017
(unaudited)

 

 

2018
(unaudited)

 

 

2019
(unaudited)

 

 

2020
(unaudited)

 

 

2021

 

 

 

($ in millions)

 

2012

 

$

46.9

 

 

$

106.8

 

 

$

201.1

 

 

$

316.6

 

 

$

435.7

 

 

$

521.3

 

 

$

587.0

 

 

$

624.4

 

 

$

648.7

 

 

$

677.8

 

2013

 

 

 

 

 

22.2

 

 

 

85.1

 

 

 

176.6

 

 

 

296.4

 

 

 

378.0

 

 

 

452.7

 

 

 

494.6

 

 

 

528.5

 

 

 

558.8

 

2014

 

 

 

 

 

 

 

 

29.8

 

 

 

107.5

 

 

 

229.6

 

 

 

342.9

 

 

 

444.7

 

 

 

522.7

 

 

 

580.6

 

 

 

619.2

 

2015

 

 

 

 

 

 

 

 

 

 

 

32.2

 

 

 

100.4

 

 

 

205.0

 

 

 

325.8

 

 

 

455.8

 

 

 

536.5

 

 

 

595.9

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

34.8

 

 

 

121.8

 

 

 

242.9

 

 

 

370.0

 

 

 

491.1

 

 

 

573.6

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

34.0

 

 

 

110.6

 

 

 

221.8

 

 

 

347.5

 

 

 

447.9

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

33.0

 

 

 

104.6

 

 

 

206.7

 

 

 

324.7

 

2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

29.0

 

 

 

99.7

 

 

 

202.5

 

2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

47.2

 

 

 

127.6

 

2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

48.3

 

Cumulative Paid Loss and LAE for the 2012 through 2021 accident years

 

 

$

4,176.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total incurred loss and LAE for the 2012 through 2021 accident years

 

 

$

8,503.3

 

Cumulative paid loss and LAE for the 2012 through 2021 accident years

 

 

 

4,176.3

 

Unpaid loss and LAE, net of reinsurance recoverables, for accident years prior to 2012

 

 

 

793.5

 

Unpaid loss and LAE, net of reinsurance recoverables, as of December 31, 2021

 

 

$

5,120.5

 

 

Represents the following reinsurance lines of business: directors’ and officers’ liability; errors and omissions liability; general liability; and medical malpractice.
Reinsurance Segment | Casualty & Other | Shorter Tailed Lines Of Business  
Supplemental Information About Incurred and Paid Loss and LAE Development and Reconciliation to Consolidated Balance Sheet

Reinsurance Segment

Casualty & specialty – Shorter-Tailed Lines of Business(1)

 

 

 

Incurred Loss and LAE, Net of Reinsurance

 

 

As of

 

 

 

Year Ended December 31,

 

 

December 31, 2021

 

Accident
Year

 

2012
(unaudited)

 

 

2013
(unaudited)

 

 

2014
(unaudited)

 

 

2015
(unaudited)

 

 

2016
(unaudited)

 

 

2017
(unaudited)

 

 

2018
(unaudited)

 

 

2019
(unaudited)

 

 

2020
(unaudited)

 

 

2021

 

 

IBNR

 

 

 

($ in millions)

 

2012

 

$

1,022.3

 

 

$

1,059.9

 

 

$

1,056.8

 

 

$

1,005.5

 

 

$

983.9

 

 

$

958.9

 

 

$

948.4

 

 

$

941.4

 

 

$

933.9

 

 

$

929.9

 

 

$

6.4

 

2013

 

 

 

 

 

850.8

 

 

 

868.8

 

 

 

838.4

 

 

 

823.4

 

 

 

804.1

 

 

 

790.3

 

 

 

780.7

 

 

 

769.6

 

 

 

764.5

 

 

 

9.2

 

2014

 

 

 

 

 

 

 

 

850.4

 

 

 

833.0

 

 

 

808.8

 

 

 

784.3

 

 

 

772.4

 

 

 

755.0

 

 

 

752.5

 

 

 

740.8

 

 

 

15.2

 

2015

 

 

 

 

 

 

 

 

 

 

 

763.4

 

 

 

768.6

 

 

 

784.0

 

 

 

798.4

 

 

 

776.7

 

 

 

776.2

 

 

 

771.9

 

 

 

17.0

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,118.0

 

 

 

1,124.4

 

 

 

1,111.6

 

 

 

1,100.3

 

 

 

1,092.6

 

 

 

1,085.2

 

 

 

25.7

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,095.9

 

 

 

1,046.3

 

 

 

1,026.9

 

 

 

994.5

 

 

 

989.0

 

 

 

49.0

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,255.4

 

 

 

1,266.1

 

 

 

1,270.7

 

 

 

1,267.3

 

 

 

89.2

 

2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,408.6

 

 

 

1,411.8

 

 

 

1,400.7

 

 

 

159.8

 

2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,408.2

 

 

 

1,335.1

 

 

 

325.8

 

2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,333.1

 

 

 

729.0

 

Total Incurred Loss and LAE for the 2012 through 2021 accident years

 

 

$

10,617.5

 

 

 

 

 

 

 

Paid Loss and LAE, Net of Reinsurance

 

 

 

Year Ended December 31,

 

Accident
Year

 

2012
(unaudited)

 

 

2013
(unaudited)

 

 

2014
(unaudited)

 

 

2015
(unaudited)

 

 

2016
(unaudited)

 

 

2017
(unaudited)

 

 

2018
(unaudited)

 

 

2019
(unaudited)

 

 

2020
(unaudited)

 

 

2021

 

 

 

($ in millions)

 

2012

 

$

354.8

 

 

$

614.5

 

 

$

740.0

 

 

$

792.7

 

 

$

828.3

 

 

$

846.5

 

 

$

860.2

 

 

$

871.4

 

 

$

876.1

 

 

$

880.3

 

2013

 

 

 

 

 

265.4

 

 

 

523.5

 

 

 

613.3

 

 

 

663.0

 

 

 

685.5

 

 

 

704.9

 

 

 

717.5

 

 

 

723.9

 

 

 

730.7

 

2014

 

 

 

 

 

 

 

 

251.2

 

 

 

421.1

 

 

 

523.3

 

 

 

572.9

 

 

 

604.6

 

 

 

627.8

 

 

 

636.8

 

 

 

647.8

 

2015

 

 

 

 

 

 

 

 

 

 

 

218.5

 

 

 

409.1

 

 

 

518.7

 

 

 

577.7

 

 

 

629.1

 

 

 

653.2

 

 

 

669.5

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

367.2

 

 

 

685.6

 

 

 

828.7

 

 

 

921.3

 

 

 

973.8

 

 

 

1,002.0

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

342.8

 

 

 

639.1

 

 

 

793.5

 

 

 

867.6

 

 

 

909.8

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

397.9

 

 

 

774.4

 

 

 

952.2

 

 

 

1,033.3

 

2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

462.0

 

 

 

881.3

 

 

 

1,051.3

 

2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

418.0

 

 

 

810.7

 

2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

411.4

 

Cumulative Paid Loss and LAE for the 2012 through 2021 accident years

 

 

$

8,146.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total incurred loss and LAE for the 2012 through 2021 accident years

 

 

$

10,617.5

 

Cumulative paid loss and LAE for the 2012 through 2021 accident years

 

 

 

8,146.8

 

Unpaid loss and LAE, net of reinsurance recoverables, for accident years prior to 2012

 

 

 

151.6

 

Unpaid loss and LAE, net of reinsurance recoverables, as of December 31, 2021

 

 

$

2,622.3

 

 

Primarily represents the following reinsurance lines of business: ocean marine and aviation; auto liability; accident & health; mortgage reinsurance; surety; and credit.
Insurance Segment | RSUI | Property Insurance  
Supplemental Information About Incurred and Paid Loss and LAE Development and Reconciliation to Consolidated Balance Sheet

Insurance Segment

RSUI - Property

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of
December 31, 2021

 

 

 

Incurred Loss and LAE, Net of Reinsurance

 

 

 

 

 

Cumulative

 

 

 

Year Ended December 31,

 

 

 

 

 

Number of

 

Accident
Year

 

2012
(unaudited)

 

 

2013
(unaudited)

 

 

2014
(unaudited)

 

 

2015
(unaudited)

 

 

2016
(unaudited)

 

 

2017
(unaudited)

 

 

2018
(unaudited)

 

 

2019
(unaudited)

 

 

2020
(unaudited)

 

 

2021

 

 

IBNR

 

 

Reported
Claims(1)

 

 

 

($ in millions)

 

2012

 

$

270.9

 

 

$

262.5

 

 

$

258.6

 

 

$

256.1

 

 

$

235.1

 

 

$

236.1

 

 

$

235.5

 

 

$

228.3

 

 

$

228.4

 

 

$

228.2

 

 

$

0.8

 

 

 

2,313

 

2013

 

 

 

 

 

157.3

 

 

 

157.2

 

 

 

150.4

 

 

 

152.1

 

 

 

152.4

 

 

 

152.5

 

 

 

154.3

 

 

 

154.4

 

 

 

153.5

 

 

 

1.1

 

 

 

2,395

 

2014

 

 

 

 

 

 

 

 

170.7

 

 

 

166.2

 

 

 

155.9

 

 

 

153.7

 

 

 

153.8

 

 

 

153.6

 

 

 

153.4

 

 

 

153.3

 

 

 

1.1

 

 

 

3,094

 

2015

 

 

 

 

 

 

 

 

 

 

 

140.5

 

 

 

136.1

 

 

 

142.6

 

 

 

141.3

 

 

 

140.1

 

 

 

140.2

 

 

 

140.4

 

 

 

1.5

 

 

 

3,004

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

181.4

 

 

 

170.5

 

 

 

172.9

 

 

 

173.9

 

 

 

175.3

 

 

 

175.1

 

 

 

2.4

 

 

 

3,368

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

330.7

 

 

 

306.5

 

 

 

304.1

 

 

 

300.0

 

 

 

296.7

 

 

 

10.6

 

 

 

3,696

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

259.9

 

 

 

265.7

 

 

 

256.7

 

 

 

237.0

 

 

 

9.6

 

 

 

3,071

 

2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

204.3

 

 

 

200.9

 

 

 

205.1

 

 

 

13.9

 

 

 

3,343

 

2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

357.2

 

 

 

365.4

 

 

 

40.6

 

 

 

4,257

 

2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

341.5

 

 

 

80.6

 

 

 

3,193

 

Total Incurred Loss and LAE for the 2012 through 2021 accident years

 

 

$

2,296.2

 

 

 

 

 

 

 

 

 

 

Paid Loss and LAE, Net of Reinsurance

 

 

 

Year Ended December 31,

 

Accident
Year

 

2012
(unaudited)

 

 

2013
(unaudited)

 

 

2014
(unaudited)

 

 

2015
(unaudited)

 

 

2016
(unaudited)

 

 

2017
(unaudited)

 

 

2018
(unaudited)

 

 

2019
(unaudited)

 

 

2020
(unaudited)

 

 

2021

 

 

 

($ in millions)

 

2012

 

$

62.0

 

 

$

157.5

 

 

$

181.9

 

 

$

193.5

 

 

$

202.4

 

 

$

216.2

 

 

$

216.7

 

 

$

219.2

 

 

$

219.4

 

 

$

222.5

 

2013

 

 

 

 

 

72.7

 

 

 

118.7

 

 

 

134.0

 

 

 

141.1

 

 

 

144.0

 

 

 

148.7

 

 

 

151.5

 

 

 

151.8

 

 

 

152.1

 

2014

 

 

 

 

 

 

 

 

93.2

 

 

 

133.8

 

 

 

145.0

 

 

 

148.8

 

 

 

150.3

 

 

 

151.3

 

 

 

151.6

 

 

 

151.9

 

2015

 

 

 

 

 

 

 

 

 

 

 

70.8

 

 

 

106.9

 

 

 

120.0

 

 

 

129.8

 

 

 

136.5

 

 

 

138.0

 

 

 

138.5

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

72.0

 

 

 

127.1

 

 

 

147.1

 

 

 

161.2

 

 

 

167.3

 

 

 

169.8

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

88.6

 

 

 

213.3

 

 

 

253.3

 

 

 

267.3

 

 

 

278.5

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

62.3

 

 

 

175.1

 

 

 

202.9

 

 

 

216.1

 

2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

79.8

 

 

 

145.8

 

 

 

167.1

 

2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

118.8

 

 

 

251.2

 

2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

137.2

 

Cumulative Paid Loss and LAE for the 2012 through 2021 accident years

 

 

$

1,885.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total incurred loss and LAE for the 2012 through 2021 accident years

 

 

$

2,296.2

 

Cumulative paid loss and LAE for the 2012 through 2021 accident years

 

 

 

1,885.0

 

Unpaid loss and LAE, net of reinsurance recoverables, for accident years prior to 2012

 

 

 

4.3

 

Unpaid loss and LAE, net of reinsurance recoverables, as of December 31, 2021

 

 

$

415.5

 

 

Represents claims reported by insured claimants.
Insurance Segment | RSUI | Casualty Insurance  
Supplemental Information About Incurred and Paid Loss and LAE Development and Reconciliation to Consolidated Balance Sheet

Insurance Segment

RSUI - Casualty

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of
December 31, 2021

 

 

 

Incurred Loss and LAE, Net of Reinsurance

 

 

 

 

 

Cumulative

 

 

 

Year Ended December 31,

 

 

 

 

 

Number of

 

Accident
Year

 

2012
(unaudited)

 

 

2013
(unaudited)

 

 

2014
(unaudited)

 

 

2015
(unaudited)

 

 

2016
(unaudited)

 

 

2017
(unaudited)

 

 

2018
(unaudited)

 

 

2019
(unaudited)

 

 

2020
(unaudited)

 

 

2021

 

 

IBNR

 

 

Reported
Claims(1)

 

 

 

($ in millions)

 

2012

 

$

226.3

 

 

$

226.3

 

 

$

230.3

 

 

$

242.8

 

 

$

238.9

 

 

$

233.8

 

 

$

231.9

 

 

$

221.8

 

 

$

210.2

 

 

$

213.4

 

 

$

12.3

 

 

 

7,726

 

2013

 

 

 

 

 

264.8

 

 

 

264.8

 

 

 

277.6

 

 

 

280.1

 

 

 

279.0

 

 

 

273.5

 

 

 

269.6

 

 

 

261.4

 

 

 

263.7

 

 

 

30.1

 

 

 

8,791

 

2014

 

 

 

 

 

 

 

 

292.0

 

 

 

322.7

 

 

 

321.1

 

 

 

322.4

 

 

 

320.3

 

 

 

310.9

 

 

 

300.3

 

 

 

301.7

 

 

 

29.7

 

 

 

10,293

 

2015

 

 

 

 

 

 

 

 

 

 

 

300.2

 

 

 

300.2

 

 

 

304.2

 

 

 

302.2

 

 

 

291.4

 

 

 

289.8

 

 

 

283.6

 

 

 

54.9

 

 

 

9,489

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

290.7

 

 

 

293.7

 

 

 

301.3

 

 

 

312.0

 

 

 

317.5

 

 

 

317.8

 

 

 

56.7

 

 

 

9,110

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

282.5

 

 

 

286.4

 

 

 

299.1

 

 

 

311.1

 

 

 

309.7

 

 

 

79.2

 

 

 

9,073

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

290.0

 

 

 

301.5

 

 

 

310.0

 

 

 

312.8

 

 

 

95.8

 

 

 

9,441

 

2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

316.9

 

 

 

332.2

 

 

 

332.2

 

 

 

171.9

 

 

 

8,792

 

2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

393.9

 

 

 

393.9

 

 

 

291.5

 

 

 

7,690

 

2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

470.2

 

 

 

430.8

 

 

 

6,909

 

Total Incurred Loss and LAE for the 2012 through 2021 accident years

 

 

$

3,199.0

 

 

 

 

 

 

 

 

 

 

Paid Loss and LAE, Net of Reinsurance

 

 

 

Year Ended December 31,

 

Accident
Year

 

2012
(unaudited)

 

 

2013
(unaudited)

 

 

2014
(unaudited)

 

 

2015
(unaudited)

 

 

2016
(unaudited)

 

 

2017
(unaudited)

 

 

2018
(unaudited)

 

 

2019
(unaudited)

 

 

2020
(unaudited)

 

 

2021

 

 

 

($ in millions)

 

2012

 

$

6.8

 

 

$

38.4

 

 

$

96.0

 

 

$

125.5

 

 

$

144.0

 

 

$

159.3

 

 

$

166.7

 

 

$

176.1

 

 

$

178.5

 

 

$

180.2

 

2013

 

 

 

 

 

10.1

 

 

 

50.0

 

 

 

103.4

 

 

 

146.2

 

 

 

176.6

 

 

 

191.3

 

 

 

203.9

 

 

 

212.9

 

 

 

222.8

 

2014

 

 

 

 

 

 

 

 

13.0

 

 

 

69.5

 

 

 

130.1

 

 

 

179.1

 

 

 

206.5

 

 

 

234.6

 

 

 

249.1

 

 

 

259.7

 

2015

 

 

 

 

 

 

 

 

 

 

 

9.0

 

 

 

47.3

 

 

 

96.6

 

 

 

129.2

 

 

 

176.5

 

 

 

196.2

 

 

 

207.3

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

13.7

 

 

 

69.2

 

 

 

123.6

 

 

 

197.8

 

 

 

220.8

 

 

 

239.1

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9.4

 

 

 

63.6

 

 

 

115.6

 

 

 

163.1

 

 

 

196.2

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

13.0

 

 

 

70.4

 

 

 

116.8

 

 

 

165.6

 

2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12.9

 

 

 

57.9

 

 

 

104.2

 

2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12.6

 

 

 

45.7

 

2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

10.2

 

Cumulative Paid Loss and LAE for the 2012 through 2021 accident years

 

 

$

1,631.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total incurred loss and LAE for the 2012 through 2021 accident years

 

 

$

3,199.0

 

Cumulative paid loss and LAE for the 2012 through 2021 accident years

 

 

 

1,631.0

 

Unpaid loss and LAE, net of reinsurance recoverables, for accident years prior to 2012

 

 

 

80.4

 

Unpaid loss and LAE, net of reinsurance recoverables, as of December 31, 2021

 

 

$

1,648.4

 

 

Represents claims reported by insured claimants.
Insurance Segment | CapSpecialty Incorporated  
Supplemental Information About Incurred and Paid Loss and LAE Development and Reconciliation to Consolidated Balance Sheet

Insurance Segment

CapSpecialty(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of
December 31, 2021

 

 

 

Incurred Loss and LAE, Net of Reinsurance

 

 

 

 

 

Cumulative

 

 

 

Year Ended December 31,

 

 

 

 

 

Number of

 

Accident
Year

 

2012
(unaudited)

 

 

2013
(unaudited)

 

 

2014
(unaudited)

 

 

2015
(unaudited)

 

 

2016
(unaudited)

 

 

2017
(unaudited)

 

 

2018
(unaudited)

 

 

2019
(unaudited)

 

 

2020
(unaudited)

 

 

2021

 

 

IBNR

 

 

Reported
Claims(2)

 

 

 

($ in millions)

 

2012

 

$

72.7

 

 

$

71.8

 

 

$

66.2

 

 

$

69.3

 

 

$

69.7

 

 

$

68.7

 

 

$

68.8

 

 

$

69.1

 

 

$

69.1

 

 

$

68.9

 

 

$

0.3

 

 

 

5,269

 

2013

 

 

 

 

 

78.7

 

 

 

81.4

 

 

 

85.2

 

 

 

84.4

 

 

 

87.2

 

 

 

88.6

 

 

 

87.4

 

 

 

87.4

 

 

 

88.1

 

 

 

1.1

 

 

 

5,181

 

2014

 

 

 

 

 

 

 

 

102.8

 

 

 

102.7

 

 

 

101.0

 

 

 

100.2

 

 

 

98.6

 

 

 

97.6

 

 

 

97.7

 

 

 

99.0

 

 

 

1.4

 

 

 

6,050

 

2015

 

 

 

 

 

 

 

 

 

 

 

111.0

 

 

 

111.8

 

 

 

109.2

 

 

 

109.7

 

 

 

112.4

 

 

 

115.2

 

 

 

118.0

 

 

 

3.3

 

 

 

5,666

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

129.4

 

 

 

132.4

 

 

 

132.7

 

 

 

135.0

 

 

 

133.4

 

 

 

136.7

 

 

 

4.4

 

 

 

6,297

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

147.3

 

 

 

143.7

 

 

 

157.6

 

 

 

156.2

 

 

 

159.9

 

 

 

9.7

 

 

 

6,561

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

164.1

 

 

 

173.3

 

 

 

176.5

 

 

 

180.9

 

 

 

22.3

 

 

 

6,848

 

2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

193.0

 

 

 

188.9

 

 

 

185.4

 

 

 

58.4

 

 

 

6,171

 

2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

214.9

 

 

 

209.5

 

 

 

116.8

 

 

 

4,917

 

2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

231.7

 

 

 

183.7

 

 

 

4,616

 

Total Incurred Loss and LAE for the 2012 through 2021 accident years

 

 

$

1,478.1

 

 

 

 

 

 

 

 

 

 

Paid Loss and LAE, Net of Reinsurance

 

 

 

Year Ended December 31,

 

Accident
Year

 

2012
(unaudited)

 

 

2013
(unaudited)

 

 

2014
(unaudited)

 

 

2015
(unaudited)

 

 

2016
(unaudited)

 

 

2017
(unaudited)

 

 

2018
(unaudited)

 

 

2019
(unaudited)

 

 

2020
(unaudited)

 

 

2021

 

 

 

($ in millions)

 

2012

 

$

18.6

 

 

$

38.6

 

 

$

46.9

 

 

$

57.2

 

 

$

63.3

 

 

$

65.0

 

 

$

66.5

 

 

$

67.7

 

 

$

67.7

 

 

$

68.2

 

2013

 

 

 

 

 

23.4

 

 

 

48.0

 

 

 

62.0

 

 

 

69.6

 

 

 

78.6

 

 

 

84.5

 

 

 

85.3

 

 

 

86.1

 

 

 

86.5

 

2014

 

 

 

 

 

 

 

 

34.0

 

 

 

56.3

 

 

 

71.9

 

 

 

83.1

 

 

 

89.8

 

 

 

93.1

 

 

 

94.2

 

 

 

95.1

 

2015

 

 

 

 

 

 

 

 

 

 

 

30.9

 

 

 

57.4

 

 

 

73.5

 

 

 

88.8

 

 

 

101.1

 

 

 

106.7

 

 

 

110.5

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

30.3

 

 

 

64.0

 

 

 

86.6

 

 

 

106.1

 

 

 

116.3

 

 

 

123.2

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

30.1

 

 

 

65.6

 

 

 

95.1

 

 

 

116.1

 

 

 

126.6

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

31.7

 

 

 

72.4

 

 

 

102.1

 

 

 

130.4

 

2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

29.8

 

 

 

62.5

 

 

 

88.5

 

2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

27.8

 

 

 

60.9

 

2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

26.1

 

Cumulative Paid Loss and LAE for the 2012 through 2021 accident years

 

 

$

916.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total incurred loss and LAE for the 2012 through 2021 accident years

 

 

$

1,478.1

 

Cumulative paid loss and LAE for the 2012 through 2021 accident years

 

 

 

916.0

 

Unpaid loss and LAE, net of reinsurance recoverables, for accident years prior to 2012

 

 

 

4.4

 

Unpaid loss and LAE, net of reinsurance recoverables, as of December 31, 2021

 

 

$

566.5

 

 

(1)
The vast majority of the CapSpecialty’s loss and LAE reserves relate to its casualty lines of business.
Represents claims reported by insured claimants.