Loss and loss adjustment expense reserves (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of loss and loss adjustment expense reserves

As of June 30, 2020 and December 31, 2019, loss and loss adjustment expense reserves in the condensed consolidated balance sheets was comprised of the following:


	June 30, 2020		December 31, 2019
Case loss and loss adjustment expense reserves	$	215,316	$	148,166
Incurred but not reported loss and loss adjustment expense reserves	918,667		963,359
Deferred gains on retroactive reinsurance contracts	—		167
	$	1,133,983	$	1,111,692

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

The following table represents the activity in the loss and loss adjustment expense reserves for the six months ended June 30, 2020 and 2019:


	June 30, 2020		June 30, 2019
Gross reserves for loss and loss adjustment expenses, beginning of period	$	1,111,692	$	937,157
Less: loss and loss adjustment expenses recoverable, beginning of period	(5,520)		(2,031)
Less: deferred charges on retroactive reinsurance contracts	(6,738)		(3,847)
Net reserves for loss and loss adjustment expenses, beginning of period	1,099,434		931,279
Increase (decrease) in net loss and loss adjustment expenses incurred in respect of losses occurring in:
Current year	176,644		186,382
Prior years	248		(8,980)
Total incurred loss and loss adjustment expenses	176,892		177,402
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Current year	(24,893)		(25,503)
Prior years	(123,844)		(67,824)
Total net paid losses	(148,737)		(93,327)
Foreign currency translation	(10,660)		(1,186)
Net reserves for loss and loss adjustment expenses, end of period	1,116,929		1,014,168
Plus: loss and loss adjustment expenses recoverable, end of period	10,064		3,655
Plus: deferred charges on retroactive reinsurance contracts	6,990		3,953
Gross reserves for loss and loss adjustment expenses, end of period	$	1,133,983	$	1,021,776