Liabilities for Losses and Loss Expenses (Tables)

9 Months Ended

Sep. 30, 2021

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Summary of Insurance Subsidiaries' Liabilities for Losses and Loss Expenses

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

	Nine Months Ended September 30,
	2021			2020
	(in thousands)
Balance at January 1	$	962,007		$	869,674
Less reinsurance recoverable		(404,818	)		(362,768	)
Net balance at January 1		557,189			506,906
Incurred related to:
Current year		407,193			353,798
Prior years		(25,874	)		(10,321	)
Total incurred		381,319			343,477
Paid related to:
Current year		183,165			169,610
Prior years		149,910			139,024
Total paid		333,075			308,634
Net balance at end of period		605,433			541,749
Plus reinsurance recoverable		444,730			400,181
Balance at end of period	$	1,050,163		$	941,930