| Short-duration Insurance Contracts, Claims Development |
The following tables represent cumulative incurred loss and allocated loss adjustment expenses ("ALAE"), net of reinsurance, by accident year and cumulative paid loss and ALAE, net of reinsurance, by accident year, for the years ended December 31, 2016 to 2025, as well as total IBNR and the cumulative number of reported claims for the year ended December 31, 2025, by reportable segment and accident year (dollars in thousands). The tables do not include reinsurance recoverables from the LPT. The 2025 and 2024 columns in the commercial lines incurred loss tables below do not include reinsurance recoverables on unpaid losses related to the LPT of $3.4 million and $10.6 million, respectively. The 2025 and 2024 columns in the commercial lines incurred loss tables below do not include reinsurance recoverables on paid losses related to the LPT of $0 and $3.4 million, respectively.
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|
|
|
Commercial Lines |
|
Incurred loss and allocated loss adjustment expenses, net of reinsurance |
|
|
|
|
|
|
|
|
Total
IBNR |
|
Cumulative
number of
reported
claims |
|
Accident |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
Year |
2016* |
|
2017* |
|
2018* |
|
2019* |
|
2020* |
|
2021* |
|
2022* |
|
2023* |
|
2024* |
|
2025 |
|
2025 |
|
2025 |
|
2016 |
|
32,396 |
|
|
34,935 |
|
|
40,440 |
|
|
44,355 |
|
|
46,089 |
|
|
46,993 |
|
|
48,677 |
|
|
49,162 |
|
|
49,349 |
|
|
49,726 |
|
|
1 |
|
|
1 |
|
2017 |
|
|
|
44,251 |
|
|
44,495 |
|
|
49,749 |
|
|
51,883 |
|
|
55,589 |
|
|
56,649 |
|
|
59,149 |
|
|
59,366 |
|
|
59,720 |
|
|
2 |
|
|
2 |
|
2018 |
|
|
|
|
|
42,624 |
|
|
42,432 |
|
|
49,741 |
|
|
55,261 |
|
|
60,102 |
|
|
61,881 |
|
|
64,349 |
|
|
66,413 |
|
|
3 |
|
|
2 |
|
2019 |
|
|
|
|
|
|
|
41,286 |
|
|
42,129 |
|
|
46,329 |
|
|
55,263 |
|
|
59,028 |
|
|
60,464 |
|
|
60,037 |
|
|
(108 |
) |
|
95 |
|
2020 |
|
|
|
|
|
|
|
|
|
33,867 |
|
|
35,328 |
|
|
39,193 |
|
|
43,918 |
|
|
47,731 |
|
|
46,499 |
|
|
1,274 |
|
|
74 |
|
2021 |
|
|
|
|
|
|
|
|
|
|
|
40,388 |
|
|
42,266 |
|
|
48,650 |
|
|
58,682 |
|
|
63,268 |
|
|
3,509 |
|
|
203 |
|
2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
41,708 |
|
|
49,751 |
|
|
61,647 |
|
|
64,216 |
|
|
6,817 |
|
|
3,904 |
|
2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
39,456 |
|
|
45,921 |
|
|
47,081 |
|
|
11,725 |
|
|
4,294 |
|
2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16,949 |
|
|
18,583 |
|
|
4,029 |
|
|
9,891 |
|
2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,137 |
|
|
1,808 |
|
|
20,829 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
479,680 |
|
$ |
29,060 |
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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|
|
|
|
Commercial lines |
|
Cumulative paid loss and allocated loss adjustment expenses, net of reinsurance |
|
Accident |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year |
2016* |
|
2017* |
|
2018* |
|
2019* |
|
2020* |
|
2021* |
|
2022* |
|
2023* |
|
2024* |
|
2025 |
|
2016 |
|
10,255 |
|
|
19,135 |
|
|
27,785 |
|
|
37,967 |
|
|
41,945 |
|
|
43,644 |
|
|
46,957 |
|
|
48,557 |
|
|
48,877 |
|
|
49,353 |
|
2017 |
|
|
|
12,448 |
|
|
23,020 |
|
|
34,205 |
|
|
42,308 |
|
|
47,148 |
|
|
52,800 |
|
|
57,304 |
|
|
58,523 |
|
|
58,634 |
|
2018 |
|
|
|
|
|
10,375 |
|
|
19,799 |
|
|
31,633 |
|
|
41,577 |
|
|
50,508 |
|
|
57,114 |
|
|
61,365 |
|
|
64,531 |
|
2019 |
|
|
|
|
|
|
|
10,078 |
|
|
20,462 |
|
|
28,958 |
|
|
39,893 |
|
|
50,369 |
|
|
55,117 |
|
|
58,455 |
|
2020 |
|
|
|
|
|
|
|
|
|
10,217 |
|
|
17,332 |
|
|
24,225 |
|
|
33,354 |
|
|
39,508 |
|
|
43,044 |
|
2021 |
|
|
|
|
|
|
|
|
|
|
|
12,870 |
|
|
21,313 |
|
|
30,478 |
|
|
42,714 |
|
|
51,618 |
|
2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
12,839 |
|
|
22,892 |
|
|
34,451 |
|
|
46,980 |
|
2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,486 |
|
|
14,869 |
|
|
23,835 |
|
2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,776 |
|
|
10,093 |
|
2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,332 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Total |
|
$ |
407,875 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Unpaid losses and ALAE, years 2016 through 2025 |
|
$ |
71,805 |
|
Unpaid losses and ALAE, prior to 2016* |
|
|
889 |
|
Unpaid Losses, LPT |
|
|
(3,432 |
) |
Unpaid losses and ALAE, net of reinsurance |
|
$ |
69,262 |
|
* Presented as unaudited required supplementary information.
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|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Personal Lines |
|
Incurred loss and allocated loss adjustment expenses, net of reinsurance |
|
|
|
|
|
|
|
|
Total
IBNR |
|
Cumulative
number of
reported
claims |
|
Accident |
For the years ended December 31, |
|
|
|
|
|
Year |
2016* |
|
2017* |
|
2018* |
|
2019* |
|
2020* |
|
2021* |
|
2022* |
|
2023* |
|
2024* |
|
2025 |
|
2025 |
|
2025 |
|
2016 |
|
11,619 |
|
|
13,418 |
|
|
14,949 |
|
|
15,550 |
|
|
15,655 |
|
|
15,634 |
|
|
15,679 |
|
|
15,681 |
|
|
15,681 |
|
|
15,681 |
|
|
— |
|
|
2,156 |
|
2017 |
|
|
|
14,058 |
|
|
13,550 |
|
|
14,493 |
|
|
14,793 |
|
|
14,911 |
|
|
14,957 |
|
|
14,955 |
|
|
14,962 |
|
|
14,962 |
|
|
— |
|
|
1,816 |
|
2018 |
|
|
|
|
|
5,893 |
|
|
6,378 |
|
|
6,283 |
|
|
6,382 |
|
|
6,298 |
|
|
6,336 |
|
|
6,333 |
|
|
6,333 |
|
|
— |
|
|
2,914 |
|
2019 |
|
|
|
|
|
|
|
3,099 |
|
|
2,712 |
|
|
2,898 |
|
|
2,862 |
|
|
2,867 |
|
|
2,859 |
|
|
2,859 |
|
|
— |
|
|
803 |
|
2020 |
|
|
|
|
|
|
|
|
|
2,339 |
|
|
2,590 |
|
|
2,636 |
|
|
2,619 |
|
|
2,617 |
|
|
2,617 |
|
|
— |
|
|
341 |
|
2021 |
|
|
|
|
|
|
|
|
|
|
|
4,409 |
|
|
4,332 |
|
|
4,240 |
|
|
4,212 |
|
|
4,215 |
|
|
— |
|
|
324 |
|
2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
9,404 |
|
|
8,122 |
|
|
8,109 |
|
|
8,202 |
|
|
22 |
|
|
50 |
|
2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19,444 |
|
|
19,717 |
|
|
19,823 |
|
|
684 |
|
|
— |
|
2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19,038 |
|
|
21,045 |
|
|
684 |
|
|
776 |
|
2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
17,718 |
|
|
3,940 |
|
|
3,168 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
113,455 |
|
$ |
5,330 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Personal lines |
|
Cumulative paid loss and allocated loss adjustment expenses, net of reinsurance |
|
Accident |
For the years ended December 31, |
|
Year |
2016* |
|
2017* |
|
2018* |
|
2019* |
|
2020* |
|
2021* |
|
2022* |
|
2023* |
|
2024* |
|
2025 |
|
2016 |
|
7,119 |
|
|
11,238 |
|
|
14,442 |
|
|
15,110 |
|
|
15,351 |
|
|
15,452 |
|
|
15,679 |
|
|
15,681 |
|
|
15,681 |
|
|
15,681 |
|
2017 |
|
|
|
8,320 |
|
|
12,944 |
|
|
14,004 |
|
|
14,526 |
|
|
14,866 |
|
|
14,957 |
|
|
14,955 |
|
|
14,962 |
|
|
14,962 |
|
2018 |
|
|
|
|
|
4,296 |
|
|
5,618 |
|
|
6,100 |
|
|
6,242 |
|
|
6,244 |
|
|
6,333 |
|
|
6,333 |
|
|
6,333 |
|
2019 |
|
|
|
|
|
|
|
2,119 |
|
|
2,604 |
|
|
2,692 |
|
|
2,850 |
|
|
2,859 |
|
|
2,859 |
|
|
2,859 |
|
2020 |
|
|
|
|
|
|
|
|
|
1,307 |
|
|
2,455 |
|
|
2,605 |
|
|
2,619 |
|
|
2,617 |
|
|
2,617 |
|
2021 |
|
|
|
|
|
|
|
|
|
|
|
3,022 |
|
|
3,980 |
|
|
4,081 |
|
|
4,195 |
|
|
4,198 |
|
2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
5,397 |
|
|
7,923 |
|
|
8,088 |
|
|
8,184 |
|
2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16,170 |
|
|
18,760 |
|
|
19,666 |
|
2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15,521 |
|
|
19,761 |
|
2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12,136 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
106,397 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Unpaid losses and ALAE, years 2016 through 2025 |
|
$ |
7,058 |
|
Unpaid losses and ALAE, prior to 2016* |
|
|
— |
|
Unpaid losses and ALAE, net of reinsurance |
|
$ |
7,058 |
|
* Presented as unaudited required supplementary information.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Lines |
|
Incurred loss and allocated loss adjustment expenses, net of reinsurance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
IBNR |
|
Cumulative number of reported claims |
|
Accident |
|
|
|
|
|
|
|
|
|
|
Year |
2016* |
|
2017* |
|
2018* |
|
2019* |
|
2020* |
|
2021* |
|
2022* |
|
2023* |
|
2024* |
|
2025 |
|
|
|
2025 |
|
2016 |
|
44,015 |
|
|
48,353 |
|
|
55,389 |
|
|
59,905 |
|
|
61,744 |
|
|
62,627 |
|
|
64,356 |
|
|
64,843 |
|
|
65,030 |
|
|
65,407 |
|
|
1 |
|
|
2,157 |
|
2017 |
|
|
|
58,309 |
|
|
58,045 |
|
|
64,242 |
|
|
66,676 |
|
|
70,500 |
|
|
71,606 |
|
|
74,104 |
|
|
74,328 |
|
|
74,682 |
|
|
2 |
|
|
1,818 |
|
2018 |
|
|
|
|
|
48,517 |
|
|
48,810 |
|
|
56,024 |
|
|
61,643 |
|
|
66,400 |
|
|
68,217 |
|
|
70,682 |
|
|
72,746 |
|
|
3 |
|
|
2,916 |
|
2019 |
|
|
|
|
|
|
|
44,385 |
|
|
44,841 |
|
|
49,227 |
|
|
58,125 |
|
|
61,895 |
|
|
63,323 |
|
|
62,896 |
|
|
(108 |
) |
|
898 |
|
2020 |
|
|
|
|
|
|
|
|
|
36,206 |
|
|
37,918 |
|
|
41,829 |
|
|
46,537 |
|
|
50,348 |
|
|
49,116 |
|
|
1,274 |
|
|
415 |
|
2021 |
|
|
|
|
|
|
|
|
|
|
|
44,797 |
|
|
46,598 |
|
|
52,890 |
|
|
62,894 |
|
|
67,483 |
|
|
3,509 |
|
|
527 |
|
2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
51,112 |
|
|
57,873 |
|
|
69,756 |
|
|
72,418 |
|
|
6,839 |
|
|
3,954 |
|
2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
58,900 |
|
|
65,638 |
|
|
66,904 |
|
|
12,409 |
|
|
4,294 |
|
2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
35,987 |
|
|
39,628 |
|
|
4,713 |
|
|
10,667 |
|
2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
21,855 |
|
|
5,748 |
|
|
23,997 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
593,135 |
|
$ |
34,390 |
|
|
51,643 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total lines |
|
Cumulative paid loss and allocated loss adjustment expenses, net of reinsurance |
|
Accident |
|
|
Year |
2016* |
|
2017* |
|
2018* |
|
2019* |
|
2020* |
|
2021* |
|
2022* |
|
2023* |
|
2024* |
|
2025 |
|
2016 |
|
17,374 |
|
|
30,373 |
|
|
42,227 |
|
|
53,077 |
|
|
57,296 |
|
|
59,096 |
|
|
62,636 |
|
|
64,238 |
|
|
64,558 |
|
|
65,034 |
|
2017 |
|
|
|
20,768 |
|
|
35,964 |
|
|
48,209 |
|
|
56,834 |
|
|
62,014 |
|
|
67,757 |
|
|
72,259 |
|
|
73,485 |
|
|
73,596 |
|
2018 |
|
|
|
|
|
14,671 |
|
|
25,417 |
|
|
37,733 |
|
|
47,819 |
|
|
56,752 |
|
|
63,447 |
|
|
67,698 |
|
|
70,864 |
|
2019 |
|
|
|
|
|
|
|
12,197 |
|
|
23,066 |
|
|
31,650 |
|
|
42,743 |
|
|
53,228 |
|
|
57,976 |
|
|
61,314 |
|
2020 |
|
|
|
|
|
|
|
|
|
11,524 |
|
|
19,787 |
|
|
26,830 |
|
|
35,973 |
|
|
42,125 |
|
|
45,661 |
|
2021 |
|
|
|
|
|
|
|
|
|
|
|
15,892 |
|
|
25,293 |
|
|
34,559 |
|
|
46,909 |
|
|
55,816 |
|
2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
18,236 |
|
|
30,815 |
|
|
42,539 |
|
|
55,164 |
|
2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
24,656 |
|
|
33,629 |
|
|
43,501 |
|
2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
22,297 |
|
|
29,854 |
|
2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
13,468 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
$ |
514,272 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Unpaid losses and ALAE, years 2016 through 2025 |
|
$ |
78,863 |
|
Unpaid losses and ALAE, prior to 2016* |
|
|
889 |
|
Unpaid losses, LPT |
|
|
(3,432 |
) |
Unpaid losses and ALAE, net of reinsurance |
|
$ |
76,320 |
|
* Presented as unaudited required supplementary information.
|