Reserve for Losses and Loss Adjustment Expenses (Tables)

3 Months Ended

Mar. 31, 2022

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
	March 31,
	2022		2021
Reserve for losses and loss adjustment expenses at beginning of period	$	17,757,156	$	16,513,929
Unpaid losses and loss adjustment expenses recoverable	5,599,231		4,314,855
Net reserve for losses and loss adjustment expenses at beginning of period	12,157,925		12,199,074
Net incurred losses and loss adjustment expenses relating to losses occurring in:
Current year	1,142,647		1,244,772
Prior years	(141,812)		(41,672)
Total net incurred losses and loss adjustment expenses	1,000,835		1,203,100
Retroactive reinsurance transactions (1)	—		(183,893)
Net foreign exchange (gains) losses and other	(32,640)		(46,877)
Net paid losses and loss adjustment expenses relating to losses occurring in:
Current year	(70,806)		(58,984)
Prior years	(656,205)		(585,118)
Total net paid losses and loss adjustment expenses	(727,011)		(644,102)
Net reserve for losses and loss adjustment expenses at end of period	12,399,109		12,527,302
Unpaid losses and loss adjustment expenses recoverable	5,709,998		3,916,650
Reserve for losses and loss adjustment expenses at end of period	$	18,109,107	$	16,443,952

(1)     During the 2021 first quarter, the Company entered into a reinsurance to close and other related agreements with Premia Managing Agency Limited (“Premia”), in connection with the 2018 and prior years of account related to the acquisition of Barbican Group Holdings Limited (“Barbican”).