HISTORICAL LOSS AND LAE DEVELOPMENT (Tables) - 10K

12 Months Ended

Dec. 31, 2014

HISTORICAL LOSS AND LAE DEVELOPMENT

Schedule of reconciliation of unpaid losses and settlement expenses (LAE)

(in thousands)	2014		2013		2012
Unpaid losses and LAE at beginning of year:
Gross	$	1,129,433	$	1,158,483	$	1,150,714
Ceded		(354,924)		(359,884)		(353,805)
Net	$	774,509	$	798,599	$	796,909
Increase (decrease) in incurred losses and LAE:
Current accident year	$	361,451	$	332,282	$	336,228
Prior accident years		(64,842)		(72,481)		(64,583)
Total incurred	$	296,609	$	259,801	$	271,645
Loss and LAE payments for claims incurred:
Current accident year	$	(65,308)	$	(57,537)	$	(69,785)
Prior accident year		(219,876)		(226,354)		(200,170)
Total paid	$	(285,184)	$	(283,891)	$	(269,955)
Net unpaid losses and LAE at end of year	$	785,934	$	774,509	$	798,599
Unpaid losses and LAE at end of year:
Gross	$	1,121,040	$	1,129,433	$	1,158,483
Ceded		(335,106)		(354,924)		(359,884)
Net	$	785,934	$	774,509	$	798,599

Schedule of prior accident years' loss reserve development by segment

(FAVORABLE)/UNFAVORABLE RESERVE DEVELOPMENT BY SEGMENT
(in thousands)	2014		2013		2012
Casualty	$	(52,825)	$	(61,805)	$	(40,449)
Property		(1,123)		(7,273)		(16,800)
Surety		(10,894)		(3,403)		(7,334)
Total	$	(64,842)	$	(72,481)	$	(64,583)

Schedule of paid and unpaid environmental, asbestos and mass tort claims data (including incurred but not reported losses)

(in thousands)	2014		2013		2012
LOSS AND LAE PAYMENTS (CUMULATIVE)
Gross	$	112,819	$	105,559	$	102,222
Ceded		(59,376)		(57,976)		(57,345)
Net	$	53,443	$	47,583	$	44,877
UNPAID LOSSES AND LAE AT END OF YEAR
Gross	$	39,064	$	48,507	$	50,353
Ceded		(11,879)		(15,043)		(16,733)
Net	$	27,185	$	33,464	$	33,620