5. Insurance Liabilities

Liability for Unpaid Claims

The liability for unpaid claims is reported in future policy benefits and claims within our consolidated statements of financial position. Activity associated with unpaid claims was as follows:

	For the six months ended June 30,
	2018		2017
	(in millions)
Balance at beginning of period	$	2,130.5	$	2,001.3
Less reinsurance recoverable	375.8		340.3

Net balance at beginning of period	1,754.7		1,661.0
Incurred:
Current year	617.3		591.6
Prior years	17.9		23.9

Total incurred	635.2		615.5
Payments:
Current year	358.3		343.4
Prior years	231.8		225.9

Total payments	590.1		569.3

Net balance at end of period	1,799.8		1,707.2
Plus reinsurance recoverable	388.2		356.1

Balance at end of period	$	2,188.0	$	2,063.3


Amounts not included in the rollforward above:
Claim adjustment expense liabilities	$	51.9	$	50.3

Incurred liability adjustments relating to prior years, which affected current operations during 2018 and 2017, resulted in part from developed claims for prior years being different than were anticipated when the liabilities for unpaid claims were originally estimated. These trends have been considered in establishing the current year liability for unpaid claims.