Property and Casualty Unpaid Claims and Claim Expenses (Tables)

6 Months Ended

Jun. 30, 2017

Reconciliation of property and casualty unpaid claims and claim expenses

The end of the period gross reserve (before reinsurance) balances and the reinsurance recoverable balances are reflected on a gross basis in the Consolidated Balance Sheets.



($ in thousands)	Three Months Ended June 30,						Six Months Ended June 30,
	2017			2016			2017			2016
Property and Casualty segment
Beginning Gross reserves (1)	$	316,173		$	319,276		$	307,757		$	301,569
Less: reinsurance recoverables	61,804			60,429			61,199			50,332
Net reserves, beginning of period (2)	254,369			258,847			246,558			251,237
Incurred claims and claim expenses:
Claims occurring in the current period	148,348			131,355			271,552			234,561
Decrease in estimated reserves for claims occurring in prior periods (3)	(600		)	(1,600		)	(1,600		)	(3,600		)
Total claims and claim expenses incurred (4)	147,748			129,755			269,952			230,961
Claims and claim expense payments for claims occurring during:
Current period	95,645			89,549			148,025			128,630
Prior periods	35,538			38,591			97,551			93,106
Total claims and claim expense payments	131,183			128,140			245,576			221,736
Net reserves, end of period (2)	270,934			260,462			270,934			260,462
Plus: reinsurance recoverables	58,897			60,499			58,897			60,499
Ending Gross reserves (1)	$	329,831		$	320,961		$	329,831		$	320,961


(1)	Unpaid claims and claim expenses as reported in the Consolidated Balance Sheets also include reserves for the Life and Retirement segments of $22,682 thousand and $23,783 thousand as of June 30, 2017 and 2016, respectively, in addition to Property and Casualty segment reserves.


(2)	Reserves net of anticipated reinsurance recoverables.


(3)	Shows the amounts by which the Company decreased its reserves in each of the periods indicated for claims occurring in previous periods to reflect subsequent information on such claims and changes in their projected final settlement costs.

(4)

Benefits, claims and settlement expenses as reported in the Consolidated Statements of Operations also include amounts for the Life and Retirement segments of $18,131 thousand and $40,023 thousand for the three and six months ended June 30, 2017, respectively, in addition to the Property and Casualty segment amounts. The Life and Retirement segments for the three and six months ended June 30, 2016 were $18,653 thousand and $36,960 thousand, respectively.