Loss Reserves (Tables)

3 Months Ended

Mar. 31, 2017

Insurance [Abstract]

Summary of Reserves for Losses and LAE Activity

The following table summarizes our Company’s Reserves for losses and LAE activity for the three months ended March 31, 2017 and 2016:

	For the Three Months Ended March 31,
amounts in thousands	2017			2016
Net reserves for losses and LAE at beginning of year	$	1,510,451		$	1,393,126
Provision for losses and LAE for claims occurring in the current year		162,515			154,790
Increase (decrease) in estimated losses and LAE for claims occurring in prior years		7,085			(1,834	)
Incurred losses and LAE	$	169,600		$	152,956
Losses and LAE paid for claims occurring during:
Current year		(16,287	)		(15,325	)
Prior years		(126,722	)		(112,084	)
Losses and LAE payments	$	(143,009	)	$	(127,409	)
Foreign currency adjustment		(226	)		(457	)
Net reserves for losses and LAE at end of period		1,536,816			1,418,216
Reinsurance recoverables on unpaid losses and LAE		794,576			793,632
Gross reserves for losses and LAE at end of period	$	2,331,392		$	2,211,848