LOSS AND LOSS ADJUSTMENT EXPENSE (“LAE”) RESERVES (Tables)

3 Months Ended

Mar. 31, 2017

LOSS AND LOSS ADJUSTMENT EXPENSE (“LAE”) RESERVES [Abstract]

Activity in Liability for Loss and LAE Reserves

	Three Months Ended
	March 31,
	2017		2016
	(in thousands)
Gross reserves, beginning of period	$	158,110	$	97,340
Less: reinsurance recoverable (1)		(41,079)		(7,496)
Net reserves, beginning of period		117,031		89,844
Incurred loss, net of reinsurance, related to:
Current year		50,674		30,093
Prior years		157		(548)
Total incurred loss and LAE, net of reinsurance		50,831		29,545
Paid loss, net of reinsurance, related to:
Current year		15,461		9,221
Prior years		33,945		19,710
Total paid loss and LAE, net of reinsurance		49,406		28,931
Net reserves, end of period		118,456		90,458
Plus: reinsurance recoverable (1)		35,881		11,157
Gross reserves, end of period	$	154,337	$	101,615

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