v3.26.3
Unpaid Losses And Loss Adjustment Expenses (Tables)
 9 Months Ended
Sep. 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.

Nine Months Ended September 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(40,017)160,363 
Adjusted net reserves for losses and loss adjustment expenses, beginning of year16,666,952 15,673,090 
Incurred losses and loss adjustment expenses:
Current accident year4,015,514 4,156,998 
Prior accident years(385,941)(360,473)
Total incurred losses and loss adjustment expenses3,629,573 3,796,525 
Payments:
Current accident year465,274 444,603 
Prior accident years3,006,278 2,640,264 
Total payments3,471,552 3,084,867 
Effect of foreign currency rate changes on current year activity(3,206)900 
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)
Commutation of ceded reinsurance contracts
— 312,244 
Net reserves for losses and loss adjustment expenses, end of period16,964,911 16,695,887 
Reinsurance recoverables on unpaid losses, end of period
16,895,016 12,442,082 
Gross reserves for losses and loss adjustment expenses, end of period$33,859,927 $29,137,969