Reserves For Losses And LAE (Tables)

12 Months Ended

Dec. 31, 2017

Reserves For Losses And LAE [Abstract]

Summary Of Activity In The Reserve For Losses And LAE

	At December 31,
(Dollars in thousands)	2017			2016			2015
Gross reserves at January 1	$	8,331,288		$	7,940,720		$	7,843,856
Less reinsurance recoverables		(4,199,791	)		(3,875,073	)		(3,702,782	)
Net reserves at January 1		4,131,497			4,065,647			4,141,074
Incurred related to:
Current year		2,157,498			1,441,962			1,326,015
Prior years		(117,747	)		(91,682	)		(6,454	)
Total incurred losses and LAE		2,039,751			1,350,280			1,319,561
Paid related to:
Current year		1,607,601			400,489			357,819
Prior years		957,933			892,207			946,337
Total paid losses and LAE		2,565,534			1,292,696			1,304,156
Foreign exchange/translation adjustment		10,046			8,266			(90,832	)
Net reserves at December 31		3,615,760			4,131,497			4,065,647
Plus reinsurance recoverables		5,727,268			4,199,791			3,875,073
Gross reserves at December 31	$	9,343,028		$	8,331,288		$	7,940,720

Incurred Loss And ALAE And Paid Loss And ALAE, Net Of Reinsurance

U.S. Reinsurance - Casualty Business

													At December 31, 2017
													Total of
													IBNR Liabilites
	Incurred Claims and Allocated Claim Adjustment Expenses, Net of reinsurance												Plus Expected
	Years Ended December 31,												Development		Cumulative
	2012		2013		2014		2015		2016		2017		on Reported		Number of
Accident Year	(unaudited)		(unaudited)		(unaudited)		(unaudited)		(unaudited)				Claims		Reported Claims
(Dollars in thousands)
2012	$	249,691	$	211,786	$	140,589	$	140,493	$	147,015	$	146,847		26,083		N/A
2013				117,346		184,186		181,955		187,213		179,452		50,471		N/A
2014						197,684		190,020		194,290		186,191		72,929		N/A
2015								155,977		178,512		173,668		90,945		N/A
2016										171,585		173,645		119,179		N/A
2017												149,929		27,637		N/A
											$	1,009,732
(Some amounts may not reconcile due to rounding.)

	Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
	Years Ended December 31,
	2012		2013		2014		2015		2016		2017
Accident Year	(unaudited)		(unaudited)		(unaudited)		(unaudited)		(unaudited)
(Dollars in thousands)
2012	$	2,547	$	11,856	$	25,239	$	55,234	$	77,028	$	92,652
2013				4,798		15,952		43,754		74,503		94,790
2014						7,213		22,023		48,193		75,107
2015								7,957		21,967		46,849
2016										7,454		25,128
2017												102,715
											$	437,242
All outstanding liabilities prior to 2012, net of reinsurance												763,940
Liabilities for claims and claim adjustment expenses, net of reinsurance											$	1,336,431
(Some amounts may not reconcile due to rounding.)

U.S. Reinsurance - Property Business

													At December 31, 2017
													Total of
													IBNR Liabilites
	Incurred Claims and Allocated Claim Adjustment Expenses, Net of reinsurance												Plus Expected
	Years Ended December 31,												Development		Cumulative
	2012		2013		2014		2015		2016		2017		on Reported		Number of
Accident Year	(unaudited)		(unaudited)		(unaudited)		(unaudited)		(unaudited)				Claims		Reported Claims
(Dollars in thousands)
2012	$	582,480	$	470,886	$	376,541	$	373,760	$	364,758	$	361,957		283		N/A
2013				282,446		304,558		280,289		249,573		243,423		467		N/A
2014						327,498		298,331		239,518		222,827		473		N/A
2015								325,255		260,247		236,234		9,036		N/A
2016										424,195		372,282		54,584		N/A
2017												845,311		24,650		N/A
											$	2,282,034
(Some amounts may not reconcile due to rounding.)

			Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
			Years Ended December 31,
	2012		2013		2014		2015		2016		2017
Accident Year	(unaudited)		(unaudited)		(unaudited)		(unaudited)		(unaudited)
(Dollars in thousands)
2012	$	130,188	$	229,715	$	287,323	$	312,109	$	324,606	$	338,646
2013				120,406		166,467		200,350		214,930		223,670
2014						110,418		164,817		191,034		204,407
2015								113,685		167,662		199,094
2016										157,228		254,315
2017												638,087
											$	1,858,218
All outstanding liabilities prior to 2012, net of reinsurance												50,232
Liabilities for claims and claim adjustment expenses, net of reinsurance											$	474,048
(Some amounts may not reconcile due to rounding.)

International - Casualty Business

													At December 31, 2017
													Total of
													IBNR Liabilites
	Incurred Claims and Allocated Claim Adjustment Expenses, Net of reinsurance												Plus Expected
	Years Ended December 31,												Development		Cumulative
	2012		2013		2014		2015		2016		2017		on Reported		Number of
Accident Year	(unaudited)		(unaudited)		(unaudited)		(unaudited)		(unaudited)				Claims		Reported Claims
(Dollars in thousands)
2012	$	126,700	$	59,517	$	38,593	$	46,518	$	48,276	$	46,973		4,551		N/A
2013				62,527		43,751		45,647		57,830		52,270		10,765		N/A
2014						60,855		50,808		70,504		60,531		17,867		N/A
2015								55,651		75,411		65,128		27,749		N/A
2016										72,919		71,357		42,937		N/A
2017												58,592		38,157		N/A
											$	354,851
(Some amounts may not reconcile due to rounding.)

	Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
	Years Ended December 31,
	2012		2013		2014		2015		2016		2017
Accident Year	(unaudited)		(unaudited)		(unaudited)		(unaudited)		(unaudited)
(Dollars in thousands)
2012	$	7,412	$	11,327	$	17,537	$	21,147	$	24,530	$	29,603
2013				6,153		14,608		18,949		22,878		25,506
2014						8,712		15,831		22,258		26,193
2015								8,920		19,123		26,281
2016										11,159		19,917
2017												14,610
											$	142,110
All outstanding liabilities prior to 2012, net of reinsurance												81,593
Liabilities for claims and claim adjustment expenses, net of reinsurance											$	294,333
(Some amounts may not reconcile due to rounding.)

International - Property Business

													At December 31, 2017
													Total of
													IBNR Liabilites
	Incurred Claims and Allocated Claim Adjustment Expenses, Net of reinsurance												Plus Expected
	Years Ended December 31,												Development		Cumulative
	2012		2013		2014		2015		2016		2017		on Reported		Number of
Accident Year	(unaudited)		(unaudited)		(unaudited)		(unaudited)		(unaudited)				Claims		Reported Claims
(Dollars in thousands)
2012	$	274,427	$	261,133	$	213,598	$	217,808	$	212,116	$	216,055		224		N/A
2013				182,787		181,737		175,106		163,018		166,604		614		N/A
2014						321,628		267,210		208,494		185,453		2,339		N/A
2015								266,445		173,301		179,097		976		N/A
2016										200,573		223,771		48,657		N/A
2017												520,595		72,861		N/A
											$	1,491,576
(Some amounts may not reconcile due to rounding.)

	Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
	Years Ended December 31,
	2012		2013		2014		2015		2016		2017
Accident Year	(unaudited)		(unaudited)		(unaudited)		(unaudited)		(unaudited)
(Dollars in thousands)
2012	$	86,473	$	148,124	$	182,018	$	193,189	$	197,721	$	203,445
2013				50,452		105,132		127,050		142,290		149,041
2014						61,652		112,207		143,786		159,213
2015								59,487		110,526		143,624
2016										59,620		117,693
2017												330,759
											$	1,103,774
All outstanding liabilities prior to 2012, net of reinsurance												55,445
Liabilities for claims and claim adjustment expenses, net of reinsurance											$	443,247
(Some amounts may not reconcile due to rounding.)

Insurance - Casualty Business

													At December 31, 2017
													Total of
													IBNR Liabilites
	Incurred Claims and Allocated Claim Adjustment Expenses, Net of reinsurance												Plus Expected
	Years Ended December 31,												Development			Cumulative
	2012		2013		2014		2015		2016		2017		on Reported			Number of
Accident Year	(unaudited)		(unaudited)		(unaudited)		(unaudited)		(unaudited)				Claims			Reported Claims
(Dollars in thousands)
2012	$	212,122	$	175,129	$	185,458	$	184,711	$	188,326	$	179,442		3,471			15,956
2013				256,284		228,328		230,837		224,793		182,930		6,722			20,755
2014						238,231		239,245		241,140		247,782		60,434			25,009
2015								259,451		259,843		263,492		100,270			26,472
2016										355,423		343,273		211,847			30,384
2017												268,321		(67,464	)		26,419
											$	1,485,239
(Some amounts may not reconcile due to rounding.)

	Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
	Years Ended December 31,
	2012		2013		2014		2015		2016		2017
Accident Year	(unaudited)		(unaudited)		(unaudited)		(unaudited)		(unaudited)
(Dollars in thousands)
2012	$	15,692	$	55,242	$	84,429	$	116,651	$	133,314	$	147,053
2013				17,124		68,607		101,675		129,790		149,819
2014						20,382		71,940		114,236		143,953
2015								19,974		68,033		117,096
2016										24,815		101,292
2017												286,370
											$	945,583
All outstanding liabilities prior to 2012, net of reinsurance												330,473
Liabilities for claims and claim adjustment expenses, net of reinsurance											$	870,129
(Some amounts may not reconcile due to rounding.)

Insurance - Property Business

													At December 31, 2017
													Total of
													IBNR Liabilites
	Incurred Claims and Allocated Claim Adjustment Expenses, Net of reinsurance												Plus Expected
	Years Ended December 31,												Development			Cumulative
	2012		2013		2014		2015		2016		2017		on Reported			Number of
Accident Year	(unaudited)		(unaudited)		(unaudited)		(unaudited)		(unaudited)				Claims			Reported Claims
(Dollars in thousands)
2012	$	58,377	$	46,909	$	43,553	$	44,881	$	44,312	$	44,109		6			N/A
2013				63,888		57,016		52,211		52,909		52,593		80			N/A
2014						68,190		69,901		67,484		66,600		489			N/A
2015								80,597		76,065		75,661		(685	)		N/A
2016										151,956		157,316		(870	)		N/A
2017												243,586		(8,456	)		N/A
											$	639,866
(Some amounts may not reconcile due to rounding.)

	Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
	Years Ended December 31,
	2012		2013		2014		2015		2016		2017
Accident Year	(unaudited)		(unaudited)		(unaudited)		(unaudited)		(unaudited)
(Dollars in thousands)
2012	$	26,872	$	44,422	$	42,880	$	44,531	$	44,246	$	44,055
2013				35,211		54,260		52,632		52,892		52,516
2014						40,292		66,466		66,633		66,003
2015								45,462		70,460		75,245
2016										72,264		153,245
2017												185,862
											$	576,927
All outstanding liabilities prior to 2012, net of reinsurance												1,258
Liabilities for claims and claim adjustment expenses, net of reinsurance											$	64,198
(Some amounts may not reconcile due to rounding.)

Average Annual Percentage Payout Incurred Claims By Age, Net Of Reinsurance

U.S. Reinsurance - Casualty Business

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (unaudited)
Years	1	2	3	4	5	6
Casualty	13.1%	7.8%	13.4%	17.1%	12.9%	10.6%

U.S. Reinsurance - Property Business

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (unaudited)
Years	1	2	3	4	5	6
Property	55.7%	24.4%	14.0%	6.4%	3.5%	3.9%

International - Casualty Business

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (unaudited)
Years	1	2	3	4	5	6
Casualty	16.1%	13.0%	10.7%	7.2%	6.1%	10.8%

International - Property Business

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (unaudited)
Years	1	2	3	4	5	6
Property	43.5%	28.4%	16.1%	7.4%	2.9%	2.6%

Insurance - Casualty Business

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (unaudited)
Years	1	2	3	4	5	6
Casualty	25.9%	22.0%	17.6%	14.8%	10.1%	7.7%

Insurance - Property Business

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (unaudited)
Years	1	2	3	4	5	6
Property	63.4%	42.6%	0.7%	0.8%	-0.7%	-0.4%

Reconciliation of the Net Incurred and Paid Claims Development

	At December 31,
	2017
(Dollars in thousands)
Net outstanding liabilities
U.S. Reinsurance Casualty	$	1,336,431
U.S. Reinsurance Property		474,048
International Casualty		294,333
International Property		443,247
Insurance Casualty		870,129
Insurance Property		64,198
Liabilities for unpaid claims and claim adjustment expenses, net of reinsurance		3,482,386
Reinsurance recoverable on unpaid claims
U.S. Reinsurance Casualty		1,069,721
U.S. Reinsurance Property		1,243,787
International Casualty		557,581
International Property		829,828
Insurance Casualty		1,705,312
Insurance Property		321,038
Total reinsurance recoverable on unpaid claims		5,727,267
Unallocated claims adjustment expenses		110,950
Other		22,425
		133,375
Total gross liability for unpaid claims and claim adjustment expense	$	9,343,028
(Some amounts may not reconcile due to rounding.)

Summary Of Incurred Losses With Respect To A&E Reserve On Both Gross And Net Of Reinsurance Basis

	At December 31,
(Dollars in thousands)	2017			2016			2015
Gross basis:
Beginning of period reserves	$	441,111		$	433,117		$	476,205
Incurred losses		90,009			73,336			40,000
Paid losses		(82,126	)		(65,342	)		(83,088	)
End of period reserves	$	448,993		$	441,111		$	433,117
Net basis:
Beginning of period reserves	$	274,409		$	276,540		$	304,286
Incurred losses		25,194			45,668			30,879
Paid losses		(30,451	)		(47,798	)		(58,625	)
End of period reserves	$	269,153		$	274,409		$	276,540
(Some amounts may not reconcile due to rounding.)