Loss and loss adjustment expense reserves (Tables)

6 Months Ended

Jun. 30, 2014

Loss and Loss Adjustment Expense Reserves [Abstract]

Schedule of loss and loss adjustment expense reserves

As of June 30, 2014 and December 31, 2013, loss and loss adjustment expense reserves in the condensed consolidated balance sheets was comprised of the following:

	June 30, 2014		December 31, 2013
	($ in thousands)
Case loss and loss adjustment expense reserves	$	42,488	$	34,307
Incurred but not reported loss and loss adjustment expense reserves	142,139		100,024
	$	184,627	$	134,331

Schedule of activity in the reserve for losses and loss adjustment expenses

The following table represents the activity in the reserve for losses and loss adjustment expenses for the six months ended June 30, 2014 and 2013:

	June 30, 2014			June 30, 2013
	($ in thousands)
Gross reserves for loss and loss adjustment expenses, beginning of period	$	134,331		$	67,271
Less: loss and loss adjustment expenses recoverable, beginning of period	(9,277		)	—
Net reserves for loss and loss adjustment expenses, beginning of period	125,054			67,271
Increase (decrease) in net loss and loss adjustment expenses incurred in respect of losses occurring in:
Current year	88,059			67,154
Prior years'	2,609			(2,824		)
Total incurred loss and loss adjustment expenses	90,668			64,330
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Current year	(22,141		)	(6,044		)
Prior years'	(19,228		)	(16,647		)
Total net paid losses	(41,369		)	(22,691		)
Net reserve for loss and loss adjustment expenses, end of period	174,353			108,910
Plus: loss and loss adjustment expenses recoverable, end of period	10,274			4,190
Gross reserve for loss and loss adjustment expenses, end of period	$	184,627		$	113,100