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HISTORICAL LOSS AND LAE DEVELOPMENT (Tables)
3 Months Ended
Mar. 31, 2020
HISTORICAL LOSS AND LAE DEVELOPMENT  
Schedule of reconciliation of unpaid losses and settlement expenses (LAE)

For the Three-Month Periods

Ended March 31,

(in thousands)

    

2020

    

2019

Unpaid losses and LAE at beginning of year

Gross

$

1,574,352

$

1,461,348

Ceded

 

(384,517)

 

(364,999)

Net

$

1,189,835

$

1,096,349

Adoption impact of ASU 2016-13 on reinsurance balances recoverable

$

(1,345)

$

Increase (decrease) in incurred losses and LAE

Current accident year

$

126,194

$

113,930

Prior accident years

 

(15,173)

 

(19,633)

Total incurred

$

111,021

$

94,297

Loss and LAE payments for claims incurred

Current accident year

$

(9,295)

$

(5,531)

Prior accident years

 

(81,897)

 

(70,145)

Total paid

$

(91,192)

$

(75,676)

Net unpaid losses and LAE at March 31

$

1,208,319

$

1,114,970

Unpaid losses and LAE at March 31

Gross

$

1,574,760

$

1,479,344

Ceded

 

(366,441)

 

(364,374)

Net

$

1,208,319

$

1,114,970