Reserves for Losses and LAE (Tables)

12 Months Ended

Dec. 31, 2015

Insurance [Abstract]

Summary of Activity in Reserve for Losses and LAE

The following table summarizes our Company’s Reserves for losses and LAE activity for the years ended December 31, 2015, 2014 and 2013:

	Years Ended December 31,
amounts in thousands	2015			2014			2013
Net reserves for losses and LAE at beginning of year	$	1,308,136		$	1,222,633		$	1,216,909
Provision for losses and LAE for claims occurring in the    current year		637,267			601,041			520,227
Increase (decrease) in estimated losses and LAE for claims    occurring in prior years		(64,669	)		(55,812	)		(1,266	)
Incurred losses and LAE	$	572,598		$	545,229		$	518,961
Losses and LAE paid for claims occurring during:
Current year		(159,802	)		(158,806	)		(147,864	)
Prior years		(320,863	)		(295,527	)		(365,479	)
Losses and LAE payments	$	(480,665	)	$	(454,333	)	$	(513,343	)
Foreign Currency Adjustment		(6,943	)		(5,393	)		106
Net reserves for losses and LAE at end of year		1,393,126			1,308,136			1,222,633
Reinsurance recoverables on unpaid losses and LAE		809,518			851,498			822,438
Gross reserves for losses and LAE at end of year	$	2,202,644		$	2,159,634		$	2,045,071

Reporting and Operating Segments Break Down of Prior Years' Net Reserve Deficiency (Redundancy)

The reporting and operating segments breakdowns of prior period net reserve strengthening (releases) for the years ended December 31, 2015, 2014 and 2013 are as follows:

	Years Ended December 31,
amounts in thousands	2015			2014			2013
U.S. Insurance
Marine	$	(24,825	)	$	(29,047	)	$	(13,679	)
P&C		(706	)		17,081			12,938
Professional Liability		(3,788	)		(3,454	)		11,777
Total	$	(29,319	)	$	(15,420	)	$	11,036
Int'l Insurance
Marine		(21,914	)		(31,677	)		(6,361	)
P&C		(8,458	)		(3,829	)		(22,263	)
Professional Liability		4,156			(2,746	)		1,289
Total	$	(26,216	)	$	(38,252	)	$	(27,335	)
GlobalRe	$	(9,134	)	$	(2,140	)	$	15,033
Total strengthening (releases)	$	(64,669	)	$	(55,812	)	$	(1,266	)