v3.26.1
Unpaid Losses And Loss Adjustment Expenses (Tables)
 3 Months Ended
Mar. 31, 2026
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims [Abstract]  
Reconciliation Of Consolidated Reserves For Losses And Loss Adjustment Expenses
The following table presents a reconciliation of consolidated beginning and ending reserves for losses and loss adjustment expenses.

Three Months Ended March 31,
(dollars in thousands)20262025
Gross reserves for losses and loss adjustment expenses, beginning of year$30,857,453 $26,633,094 
Reinsurance recoverables on unpaid losses, beginning of year14,150,484 11,120,367 
Net reserves for losses and loss adjustment expenses, beginning of year16,706,969 15,512,727 
Effect of foreign currency rate changes on beginning of year balance(36,345)56,701 
Adjusted net reserves for losses and loss adjustment expenses, beginning of year16,670,624 15,569,428 
Incurred losses and loss adjustment expenses:
Current accident year1,270,880 1,404,772 
Prior accident years(104,063)(150,107)
Total incurred losses and loss adjustment expenses1,166,817 1,254,665 
Payments:
Current accident year35,061 50,284 
Prior accident years1,099,676 901,098 
Total payments1,134,737 951,382 
Effect of foreign currency rate changes on current year activity(582)54 
Change in net reserves for losses and loss adjustment expenses of Markel CATCo Re
— (121)
Retroactive reinsurance transaction with Hagerty Re
(62,202)— 
Net reserves for losses and loss adjustment expenses, end of period16,639,920 15,872,644 
Reinsurance recoverables on unpaid losses, end of period
14,730,616 12,015,613 
Gross reserves for losses and loss adjustment expenses, end of period$31,370,536 $27,888,257