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HISTORICAL LOSS AND LAE DEVELOPMENT (Tables)
3 Months Ended
Jun. 30, 2020
HISTORICAL LOSS AND LAE DEVELOPMENT  
Schedule of reconciliation of unpaid losses and settlement expenses (LAE)

​

​

​

​

​

​

​

​

​

​

For the Six-Month Periods

​

​

Ended June 30,

(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

​

$

253,031

​

$

239,053

Prior accident years

​

 

(40,808)

​

 

(40,837)

Total incurred

​

$

212,223

​

$

198,216

​

​

​

​

​

​

​

Loss and LAE payments for claims incurred

​

​

​

​

​

​

Current accident year

​

$

(25,588)

​

$

(23,624)

Prior accident years

​

 

(148,885)

​

 

(126,972)

Total paid

​

$

(174,473)

​

$

(150,596)

​

​

​

​

​

​

​

Net unpaid losses and LAE at June 30

​

$

1,226,240

​

$

1,143,969

​

​

​

​

​

​

​

Unpaid losses and LAE at June 30

​

​

​

​

​

​

Gross

​

$

1,590,996

​

$

1,506,279

Ceded

​

 

(364,756)

​

 

(362,310)

Net

​

$

1,226,240

​

$

1,143,969