Reserve for Losses and Loss Adjustment Expenses (Tables)

9 Months Ended

Sep. 30, 2017

Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]

Analysis of losses and loss adjustment expenses and reconciliation of beginning and ending reserve balances

The following table represents an analysis of losses and loss adjustment expenses and a reconciliation of the beginning and ending reserve for losses and loss adjustment expenses:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2017			2016			2017			2016
Reserve for losses and loss adjustment expenses at beginning of period	$	10,520,511		$	9,471,647		$	10,200,960		$	9,125,250
Unpaid losses and loss adjustment expenses recoverable and deferred charges	2,116,210			2,003,768			2,083,575			1,828,837
Net reserve for losses and loss adjustment expenses at beginning of period	8,404,301			7,467,879			8,117,385			7,296,413
Net incurred losses and loss adjustment expenses relating to losses occurring in:
Current year	1,092,175			598,940			2,487,212			1,848,299
Prior years	(45,232		)	(74,757		)	(197,839		)	(216,575		)
Discount and accretion on retroactive reinsurance	(802		)	—			(802		)	—
Total net incurred losses and loss adjustment expenses	1,046,141			524,183			2,288,571			1,631,724
Net foreign exchange losses (gains)	61,919			1,463			168,493			(13,270		)
Net paid losses and loss adjustment expenses relating to losses occurring in:
Current year	(167,450		)	(128,432		)	(282,952		)	(285,468		)
Prior years	(457,183		)	(304,673		)	(1,403,769		)	(1,068,979		)
Total net paid losses and loss adjustment expenses	(624,633		)	(433,105		)	(1,686,721		)	(1,354,447		)
Net reserve for losses and loss adjustment expenses at end of period	8,887,728			7,560,420			8,887,728			7,560,420
Unpaid losses and loss adjustment expenses recoverable and deferred charges	2,463,539			2,049,769			2,463,539			2,049,769
Reserve for losses and loss adjustment expenses at end of period	$	11,351,267		$	9,610,189		$	11,351,267		$	9,610,189