LOSS AND LOSS ADJUSTMENT RESERVES (Tables)

6 Months Ended

Jun. 30, 2018

Liability for Future Policy Benefits [Abstract]

Activity in Liability for Loss and LAE Reserves

Activity in the liability for loss and LAE reserves is summarized as follows:

	Six Months Ended
	June 30,
	2018			2017
	(In thousands)
Gross reserves, beginning-of-period	$	230,515		$	158,110
Less: reinsurance recoverable (1)	(98,345		)	(40,412		)
Net reserves, beginning-of-period	132,170			117,698
Incurred loss, net of reinsurance, related to:
Current year	98,132			114,779
Prior year loss development (2)	(1,192		)	7,420
Ceded losses subject to offsetting experience account adjustments (3)	(3,299		)	(8,883		)
Prior years	(4,491		)	(1,463		)
Total incurred loss and LAE, net of reinsurance	93,641			113,316
Paid loss, net of reinsurance, related to:
Current year	42,260			48,747
Prior years	57,569			55,719
Total paid loss and LAE, net of reinsurance	99,829			104,466
Net reserves, end-of-period	125,982			126,548
Plus: reinsurance recoverable (1)	165,693			29,625
Gross reserves, end-of-period	$	291,675		$	156,173

(1) Reinsurance recoverable in this table includes only ceded loss and LAE reserves.

(2) Reflects loss development from prior accident years impacting pre-tax net income. Excludes losses ceded under retrospective reinsurance treaties to the extent there is an offsetting experience account adjustment.

(3) Reflects losses ceded under retrospective reinsurance treaties to the extent there is an offsetting experience account adjustment, such that there is no impact on pre-tax net income.