Reserve for Losses and Loss Adjustment Expenses (Tables)

12 Months Ended

Dec. 31, 2021

RESERVE FOR LOSSES AND LOSS ADJUSTMENT EXPENSES

Schedule of loss adjustment expense

	Year ended
	December 31,
	2021			2020
	($ in thousands)
Gross balance, beginning of year	$	-			-
Incurred, net of reinsurance, related to:
Current year		158			-
Prior year		-			-
Total incurred		158			-
Paid related to:
Current year		(158	)		-
Prior year		-			-
Total paid		(158	)		-
Balance, end of year	$	-			-

Incurred and paid claims development, net of reinsurance

Property Catastrophe Reinsurance

(in thousands)

Incurred Losses and Loss Adjustment Expenses

													As of December 31, 2021
													Total of Incurred-but-Not-Reported Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
													(dollars in thousands)
Accident Year	2016		2017		2018		2019		2020		2021
2016	$	14,775	$	18,801	$	17,795	$	17,689	$	17,689	$	17,689	$	-		5
2017			$	38,401	$	38,401	$	38,401	$	38,401	$	38,401	$	-		8
2018					$	10,000	$	10,000	$	10,000	$	10,000	$	-		2
2019							$	-	$	-	$	-	$	-		-
2020									$	-	$	-	$	-		-
2021											$	158	$	-		1
	Total										$	66,248	$	-

Cumulative Paid Losses and Loss Adjustment Expenses

For the Years Ended December 31,

(in thousands)

Accident Year	2016		2017		2018		2019		2020		2021
2016	$	6,073	$	16,073	$	17,687	$	17,689	$	17,689	$	17,689
2017			$	36,293	$	38,401	$	38,401	$	38,401	$	38,401
2018					$	6,000	$	10,000	$	10,000	$	10,000
2019							$	-	$	-	$	-
2020									$	-	$	-
2021											$	158
	Total										$	66,248
Reserve for loss and loss adjustment expenses at December 31, 2021, net of reinsurance											$	-

Historical average annual percentage payout

	Average Annual Percentage Payout of Incurred Claims by Age
Years		1		2		3		4		5		6
Property Catastrophe Reinsurance		72.2	%	34.0	%	9.1	%	0.0	%	0.0	%	0	%