Insurance Reserves for Losses and Claims (Tables)

3 Months Ended

Mar. 31, 2024

Insurance Reserves for Losses and Claims [Abstract]

Roll-forward of Insurance Reserves for Losses and Claims

The roll-forward of insurance reserves for losses and claims for the three months ended March 31, 2024 and 2023 is as follows:

	Three Months Ended March 31,
	2024			2023
Beginning insurance reserves for losses and claims, gross	$	87,478		$	87,484
Less: Reinsurance recoverable on unpaid losses		(14,678	)		(17,647	)
Beginning insurance reserves for losses and claims, net		72,800			69,837
Incurred related to:
Current accident year		30,748			30,836
Prior accident year development		(591	)(1)		(638	)(2)
Total incurred		30,157			30,198
Paid related to:
Current accident year		6,806			9,174
Prior accident years		23,261			21,504
Total paid		30,067			30,678
Ending insurance reserves for losses and claims, net		72,890			69,357
Plus: Reinsurance recoverable on unpaid losses		15,559			16,893
Ending insurance reserves for losses and claims, gross	$	88,449		$	86,250

(1) Prior years’ development was primarily the result of favorable development in the property and casualty operations, partially offset by unfavorable development in the Medicare supplement line of business in the life and health operations.

(2) Prior years’ development was primarily the result of favorable development in the property and casualty operations, as well as favorable development in the Medicare supplement line of business in the life and health operations.

Reconciliation of Total Incurred Losses to Total Insurance Benefits and Losses

Following is a reconciliation of total incurred losses to total insurance benefits and losses incurred:

	Three Months Ended March 31,
	2024		2023
Total incurred losses	$	30,157	$	30,198
Cash surrender value and matured endowments		265		257
Benefit reserve changes		1,503		5
Total insurance benefits and losses incurred	$	31,925	$	30,460