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

9 Months Ended

Sep. 30, 2017

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

Activity in Liability for Loss and LAE Reserves

	Nine Months Ended
	September 30,
	2017		2016
	(in thousands)
Gross reserves, beginning of period	$	158,476	$	97,340
Less: reinsurance recoverable (1)		(41,079)		(7,496)
Net reserves, beginning of period		117,397		89,844
Incurred loss, net of reinsurance, related to:
Current year		178,299		115,270
Prior years		3,358		10,946
Total incurred loss and LAE, net of reinsurance		181,657		126,216
Paid loss, net of reinsurance, related to:
Current year		106,233		46,073
Prior years		57,322		53,526
Total paid loss and LAE, net of reinsurance		163,555		99,599
Net reserves, end of period		135,499		110,428
Plus: reinsurance recoverable (1)		326,042		17,057
Gross reserves, end of period	$	461,541	$	127,485

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