v3.26.1
Unpaid Losses And Loss Adjustment Expenses (Tables)
 6 Months Ended
Jun. 30, 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.

Six Months Ended June 30,
(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(36,908)183,407 
Adjusted net reserves for losses and loss adjustment expenses, beginning of year16,670,061 15,696,134 
Incurred losses and loss adjustment expenses:
Current accident year2,624,389 2,771,538 
Prior accident years(270,421)(228,839)
Total incurred losses and loss adjustment expenses2,353,968 2,542,699 
Payments:
Current accident year221,989 211,521 
Prior accident years2,097,600 1,856,906 
Total payments2,319,589 2,068,427 
Effect of foreign currency rate changes on current year activity(1,579)824 
Provision for expected credit losses within fronting operations (see note 7)
205,346 — 
Retroactive reinsurance transaction with Hagerty Re
(62,202)— 
Change in net reserves for losses and loss adjustment expenses of Markel CATCo Re
— (2,005)
Net reserves for losses and loss adjustment expenses, end of period16,846,005 16,169,225 
Reinsurance recoverables on unpaid losses, end of period
15,326,611 12,346,166 
Gross reserves for losses and loss adjustment expenses, end of period$32,172,616 $28,515,391