XML 55 R40.htm IDEA: XBRL DOCUMENT v3.22.4
Reserve for Losses and Loss Adjustment Expenses (Tables)
 12 Months Ended
Dec. 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:
Year Ended December 31,
202220212020
Reserve for losses and loss adjustment expenses at beginning of year$17,757,156 $16,513,929 $13,891,842 
Unpaid losses and loss adjustment expenses recoverable5,599,231 4,314,855 4,082,650 
Net reserve for losses and loss adjustment expenses at beginning of year12,157,925 12,199,074 9,809,192 
Net incurred losses and loss adjustment expenses relating to losses occurring in:
Current year5,798,528 4,940,987 4,851,051 
Prior years(771,011)(356,184)(161,452)
Total net incurred losses and loss adjustment expenses5,027,517 4,584,803 4,689,599 
Net losses and loss adjustment expense reserves of acquired business (1)— 104,176 — 
Retroactive reinsurance transactions (2)— (444,147)182,210 
Impact of deconsolidation of Somers (3)— (1,460,611)— 
Foreign exchange (gains) losses and other(290,376)1,181 179,190 
Net paid losses and loss adjustment expenses relating to losses occurring in:
Current year(887,464)(734,846)(661,529)
Prior years(2,254,484)(2,091,705)(1,999,588)
Total net paid losses and loss adjustment expenses(3,141,948)(2,826,551)(2,661,117)
Net reserve for losses and loss adjustment expenses at end of year13,753,118 12,157,925 12,199,074 
Unpaid losses and loss adjustment expenses recoverable6,278,825 5,599,231 4,314,855 
Reserve for losses and loss adjustment expenses at end of year$20,031,943 $17,757,156 $16,513,929 
(1)    Represents activity related to the Company’s acquisitions in the 2021 period. See note 2, “Acquisitions.”
(2)    See ‘Retroactive Reinsurance Transactions’ section.