Liability for Losses and Loss Expenses (Tables)

9 Months Ended

Sep. 30, 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:

	Nine Months Ended September 30,
	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		351,812			307,826
Prior years		5,014			2,121
Total incurred		356,826			309,947
Paid related to:
Current year		201,849			169,798
Prior years		133,587			122,162
Total paid		335,436			291,960
Net balance at end of period		368,908			340,041
Plus reinsurance recoverable		275,442			254,227
Balance at end of period	$	644,350		$	594,268