Liability for Losses and Loss Expenses (Tables)

9 Months Ended

Sep. 30, 2020

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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,
	2020			2019
	(in thousands)
Balance at January 1	$	869,674		$	814,665
Less reinsurance recoverable		(362,768	)		(339,267	)
Net balance at January 1		506,906			475,398
Incurred related to:
Current year		353,798			393,301
Prior years		(10,321	)		(7,940	)
Total incurred		343,477			385,361
Paid related to:
Current year		169,610			197,234
Prior years		139,024			157,691
Total paid		308,634			354,925
Net balance at end of period		541,749			505,834
Plus reinsurance recoverable		400,181			358,700
Balance at end of period	$	941,930		$	864,534