Liability for Unpaid Loss and Loss Adjustment Expense (Tables)

12 Months Ended

Dec. 31, 2014

Liability for Unpaid Loss and Loss Adjustment Expense

Rollforward of Liability for Unpaid Loss and Loss Adjustment Expense

	2014		2013		2012
Reserves at beginning of year	$	3,902,132	$	3,767,850	$	3,658,317
Less reinsurance recoverables on reserves		1,122,731		1,018,047		974,834
Net reserves at beginning of year		2,779,401		2,749,803		2,683,483
Net reserve additions from acquired businesses		-		-		14,705
Net loss and loss adjustment expense:
Provision for loss and loss adjustment expense for claims occurring
in current year		1,383,192		1,396,196		1,408,085
Decrease in estimated loss and loss adjustment expense for
claims occurring in prior years		(56,357)		(73,742)		(70,011)
Net loss and loss adjustment expense		1,326,835		1,322,454		1,338,074
Net loss and loss adjustment expense payments for claims occurring during:
Current year		543,605		562,049		575,573
Prior years		856,896		736,351		729,335
Net loss and loss adjustment expense payments		1,400,501		1,298,400		1,304,908
Foreign currency adjustment		(48,113)		5,544		18,449
Net reserves at end of year		2,657,622		2,779,401		2,749,803
Plus reinsurance recoverables on reserves		1,070,463		1,122,731		1,018,047
Reserves at end of year	$	3,728,085	$	3,902,132	$	3,767,850

Details of Loss and Loss Adjustment Expense

			2014		2013		2012
Net (favorable) adverse loss development
	U.S. Property & Casualty		$	(41,560)	$	(39,363)	$	2,321
	Professional Liability			973		(26,346)		(25,897)
	Accident & Health			(13,086)		(18,027)		(10,511)
	U.S. Surety & Credit			(22,629)		(37,898)		(25,377)
	International			25,050		43,805		(10,084)
	Exited Lines			(5,105)		4,087		(463)
		Total net favorable loss development		(56,357)		(73,742)		(70,011)
Accident year catastrophe losses				28,683		55,939		52,390
All other net loss and loss adjustment expense				1,354,509		1,340,257		1,355,695
		Net loss and loss adjustment expense	$	1,326,835	$	1,322,454	$	1,338,074