Insurance Reserves for Losses and Claims (Tables)

9 Months Ended

Sep. 30, 2023

Insurance Reserves for Losses and Claims [Abstract]

Roll-forward of Insurance Reserves for Losses and Claims

The roll-forward of insurance reserves for losses and claims for the nine months ended September 30, 2023 and 2022 is as follows:

	Nine Months Ended September 30,
	2023			2022
Beginning insurance reserves for losses and claims, gross	$	87,484		$	85,620
Less: Reinsurance recoverable on unpaid losses		(17,647	)		(17,690	)
Beginning insurance reserves for losses and claims, net		69,837			67,930
Incurred related to:
Current accident year		82,276			96,897
Prior accident year development		2,706	(1)		(3,544	)(2)
Total incurred		84,982			93,353
Paid related to:
Current accident year		43,595			57,478
Prior accident years		41,634			34,647
Total paid		85,229			92,125
Ending insurance reserves for losses and claims, net		69,590			69,158
Plus: Reinsurance recoverable on unpaid losses		16,089			17,420
Ending insurance reserves for losses and claims, gross	$	85,679		$	86,578

(1) Prior years’ development was primarily the result of unfavorable development in the automobile liability line of business in the property and casualty operations due to inflationary factors.

(2) Prior years’ development was primarily the result of favorable development in the Medicare supplement line of business in the life and health operations, as well as favorable development in the surety line of business in the property and casualty operations.

Reconciliation of Total Incurred Losses to Total Insurance Benefits and Losses

Following is a reconciliation of total incurred losses to total insurance benefits and losses incurred:

	Nine Months Ended September 30,
	2023		2022
Total incurred losses	$	84,982	$	93,353
Cash surrender value and matured endowments		1,063		1,326
Benefit reserve changes		598		(127	)
Total insurance benefits and losses incurred	$	86,643	$	94,552