HISTORICAL LOSS AND LAE DEVELOPMENT (Tables)

12 Months Ended

Dec. 31, 2015

HISTORICAL LOSS AND LAE DEVELOPMENT

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

(in thousands)	2015		2014		2013
Unpaid losses and LAE at beginning 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
Increase (decrease) in incurred losses and LAE:
Current accident year	$	364,472	$	361,451	$	332,282
Prior accident years		(65,427)		(64,842)		(72,481)
Total incurred	$	299,045	$	296,609	$	259,801
Loss and LAE payments for claims incurred:
Current accident year	$	(71,853)	$	(65,308)	$	(57,537)
Prior accident year		(207,185)		(219,876)		(226,354)
Total paid	$	(279,038)	$	(285,184)	$	(283,891)
Net unpaid losses and LAE at end of year	$	805,941	$	785,934	$	774,509
Unpaid losses and LAE at end of year:
Gross	$	1,103,785	$	1,121,040	$	1,129,433
Ceded		(297,844)		(335,106)		(354,924)
Net	$	805,941	$	785,934	$	774,509

Schedule of prior accident years' loss reserve development by segment

(FAVORABLE)/UNFAVORABLE RESERVE DEVELOPMENT BY SEGMENT
(in thousands)	2015		2014		2013
Casualty	$	(45,654)	$	(52,825)	$	(61,805)
Property		(11,848)		(1,123)		(7,273)
Surety		(7,925)		(10,894)		(3,403)
Total	$	(65,427)	$	(64,842)	$	(72,481)

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

(in thousands)	2015		2014		2013
LOSS AND LAE PAYMENTS (CUMULATIVE)
Gross	$	119,632	$	112,819	$	105,559
Ceded		(62,463)		(59,376)		(57,976)
Net	$	57,169	$	53,443	$	47,583
UNPAID LOSSES AND LAE AT END OF YEAR
Gross	$	41,062	$	39,064	$	48,507
Ceded		(12,559)		(11,879)		(15,043)
Net	$	28,503	$	27,185	$	33,464