Liability for Losses and Loss Expenses (Tables)

3 Months Ended

Mar. 31, 2017

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Summary of Insurance Subsidiaries' Liability for Losses and Loss Expenses

We summarize activity in our insurance subsidiaries’ liability for losses and loss expenses as follows:

	Three Months Ended March 31,
	2017			2016
	(in thousands)
Balance at January 1	$	606,665		$	578,205
Less reinsurance recoverable		(259,147	)		(256,151	)
Net balance at January 1		347,518			322,054
Incurred related to:
Current year		111,872			95,584
Prior years		2,561			(6	)
Total incurred		114,433			95,578
Paid related to:
Current year		45,401			38,695
Prior years		60,759			54,192
Total paid		106,160			92,887
Net balance at end of period		355,791			324,745
Plus reinsurance recoverable		265,058			249,800
Balance at end of period	$	620,849		$	574,545