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Liabilities For Outstanding Claims, Losses And Loss Adjustment Expenses (Tables)
6 Months Ended
Jun. 30, 2018
Insurance [Abstract]  
Schedule of Liability for Unpaid Losses and Loss Adjustment Expenses

The table below provides a reconciliation of the gross beginning and ending reserve for unpaid losses and loss adjustment expenses.

 

 

 

Six Months Ended

 

 

 

June 30,

 

(in millions)

 

2018

 

 

2017

 

Gross loss and LAE reserves, beginning of period

 

$

7,745.0

 

 

$

6,949.4

 

Reinsurance recoverable on unpaid losses

 

 

2,608.4

 

 

 

2,274.8

 

Net loss and LAE reserves, beginning of period

 

 

5,136.6

 

 

 

4,674.6

 

Net incurred losses and LAE in respect of losses occurring in:

 

 

 

 

 

 

 

 

Current year

 

 

1,603.5

 

 

 

1,516.0

 

Prior years

 

 

(34.1

)

 

 

(24.5

)

Total incurred losses and LAE

 

 

1,569.4

 

 

 

1,491.5

 

Net payments of losses and LAE in respect of losses

   occurring in:

 

 

 

 

 

 

 

 

Current year

 

 

504.9

 

 

 

491.2

 

Prior years

 

 

944.1

 

 

 

799.7

 

Total payments

 

 

1,449.0

 

 

 

1,290.9

 

Effect of foreign exchange rate changes

 

 

(14.1

)

 

 

25.8

 

Net reserve for losses and LAE, end of period

 

 

5,242.9

 

 

 

4,901.0

 

Reinsurance recoverable on unpaid losses

 

 

2,263.5

 

 

 

2,261.4

 

Gross reserve for losses and LAE, end of period

 

$

7,506.4

 

 

$

7,162.4