Liability for Unpaid Losses and Loss Adjustment Expenses (Tables)

12 Months Ended

Dec. 31, 2017

Summary of Incurred Claims, Cumulative Paid Claims and Allocated Claim Adjustments Expenses, Net of Reinsurance

Set forth in the following tables is information about unpaid losses and loss adjustment expenses as of December 31, 2017, net of reinsurance and estimated subrogation, as well as cumulative claim counts and the total of incurred-but-not-reported liabilities plus expected development on reported claims included within the liability for unpaid losses and LAE (in thousands).

The information about unpaid losses and loss adjustment expenses for the years ended December 31, 2013 to 2015, is presented as supplementary information and is unaudited.

Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance												As of December 31, 2017
												Total of Incurred-
												but-Not-Reported
For the Years Ended December 31,												Liabilities Plus
Accident Year		2013*		2014*		2015*		2016		2017		Expected Development (Redundancy) on Reported Claims			Cumulative Number of Reported Claims
2013	*	$	100,111	$	96,993	$	96,012	$	88,493	$	91,065	$	(4,704	)		20,440
2014	*				111,739		118,289		112,251		112,278		(10,886	)		22,420
2015	*						170,381		187,431		194,600		(15,635	)		26,703
2016									269,814		286,252		(17,785	)		39,885
2017											303,944		49,600			93,080
								Total		$	988,139
*UNAUDITED


Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
For the Years Ended December 31,
Accident Year		2013*		2014*		2015*		2016		2017
2013	*	$	61,117	$	88,843	$	93,489	$	95,059	$	95,383
2014	*				69,703		112,059		119,798		122,579
2015	*						115,328		191,481		208,592
2016									204,122		297,374
2017											205,200
								Total		$	929,128

		All outstanding liabilities before 2013, net of reinsurance*									(3,469	)

Liabilities for claims and claim adjustment expenses, net of reinsurance										$	55,542
*UNAUDITED

Reconciliation of Net Incurred and Paid Claims Development Tables to Liability for Unpaid Losses and LAE

Set forth is the following reconciliation of the net incurred and paid claims development tables to the liability for unpaid losses and LAE in the consolidated Balance Sheet as of December 31, 2017 (in thousands):


	December 31, 2017
Liabilities for unpaid claims and claim adjustment expenses, net of reinsurance	$	55,542
Reinsurance recoverable on unpaid claims		182,405
Unallocated claims adjustment expenses and other		10,478
Total gross liability for unpaid claims and claim adjustment expense	$	248,425

Supplementary Information About Average Historical Claims Duration

Set forth is the supplementary information about average historical claims duration as of December 31, 2017:

Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Years	1			2			3			4			5
		51.0	%		17.7	%		11.2	%		9.1	%		6.6	%

Change in Liability for Unpaid Losses and LAE

Set forth in the following table is the change in liability for unpaid losses and LAE for the periods presented (in thousands):

	Years Ended December 31,
	2017			2016			2015
Balance at beginning of year	$	58,494		$	98,840		$	134,353
Less: Reinsurance recoverable		(106	)		(13,540	)		(47,350	)
Net balance at beginning of period		58,388			85,300			87,003

Incurred (recovered) related to:
Current year		322,929			305,919			188,040
Prior years		27,499			(4,690	)		(301	)
Total incurred		350,428			301,229			187,739

Paid related to:
Current year		215,274			229,761			123,952
Prior years		127,522			98,380			65,490
Total paid		342,796			328,141			189,442

Net balance at end of period		66,020			58,388			85,300
Plus: Reinsurance recoverable		182,405			106			13,540
Balance at end of year	$	248,425		$	58,494		$	98,840