2017 Q1 Form 10-Q Financial Statement

#000087643717000028 Filed on May 05, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $260.9M $258.6M
YoY Change 0.89% -4.31%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.230M $1.961M
YoY Change 13.72% 11.61%
% of Gross Profit
Operating Expenses $70.60M $126.8M
YoY Change -44.32% 8.93%
Operating Profit
YoY Change
Interest Expense -$16.30M -$14.70M
YoY Change 10.88% -15.52%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $174.0M $103.7M
YoY Change 67.77% -24.02%
Income Tax $84.16M $34.50M
% Of Pretax Income 48.38% 33.27%
Net Earnings $89.80M $69.19M
YoY Change 29.78% -48.01%
Net Earnings / Revenue 34.42% 26.76%
Basic Earnings Per Share $0.26 $0.20
Diluted Earnings Per Share $0.24 $0.17
COMMON SHARES
Basic Shares Outstanding 341.0M shares 340.1M shares
Diluted Shares Outstanding 402.2M shares 431.4M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $427.1M $249.9M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $38.31M $31.05M
YoY Change 23.41% 7.06%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $4.649B $4.564B
YoY Change 1.86% -0.74%
Other Assets $552.0M $702.0M
YoY Change -21.37%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $5.904B $5.773B
YoY Change 2.26% 9.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $1.329B $1.097B
YoY Change 21.15% -15.35%
Other Long-Term Liabilities $255.0M $289.0M
YoY Change -11.76% -8.54%
Total Long-Term Liabilities $1.584B $1.386B
YoY Change 14.29% -14.02%
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities $1.584B $1.386B
Total Liabilities $3.256B $3.430B
YoY Change -5.06% -16.28%
SHAREHOLDERS EQUITY
Retained Earnings $722.5M $359.2M
YoY Change 101.12%
Common Stock $2.138B $1.999B
YoY Change 6.98%
Preferred Stock
YoY Change
Treasury Stock (at cost) $150.4M $3.362M
YoY Change 4372.31%
Treasury Stock Shares 18.74M shares 440.0K shares
Shareholders Equity $2.648B $2.347B
YoY Change
Total Liabilities & Shareholders Equity $5.904B $5.773B
YoY Change 2.26% 9.28%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $89.80M $69.19M
YoY Change 29.78% -48.01%
Depreciation, Depletion And Amortization $2.230M $1.961M
YoY Change 13.72% 11.61%
Cash From Operating Activities $77.47M $3.500M
YoY Change 2113.4% -110.7%
INVESTING ACTIVITIES
Capital Expenditures $4.014M $1.916M
YoY Change 109.5% 232.64%
Acquisitions
YoY Change
Other Investing Activities $56.50M $211.2M
YoY Change -73.25% 222.44%
Cash From Investing Activities $52.44M $209.3M
YoY Change -74.95% 222.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $141.8M -144.1M
YoY Change -198.37% -5642.31%
NET CHANGE
Cash From Operating Activities $77.47M 3.500M
Cash From Investing Activities $52.44M 209.3M
Cash From Financing Activities $141.8M -144.1M
Net Change In Cash $271.7M 68.70M
YoY Change 295.44% 97.41%
FREE CASH FLOW
Cash From Operating Activities $77.47M $3.500M
Capital Expenditures $4.014M $1.916M
Free Cash Flow $73.46M $1.584M
YoY Change 4537.31% -104.76%

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CY2017Q1 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
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39330000 USD
CY2016Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
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2370345000 USD
CY2017Q1 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
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1907865000 USD
CY2016Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
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294916000 USD
CY2017Q1 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
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236802000 USD
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1091184000 USD
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1318577000 USD
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CY2017Q1 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
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3976270000 USD
CY2017Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
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338124000 USD
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338309000 USD
CY2016Q4 us-gaap Available For Sale Securities Debt Securities
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CY2017Q1 us-gaap Available For Sale Securities Debt Securities
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7162000 USD
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4104000 USD
CY2017Q1 us-gaap Available For Sale Securities Gross Realized Gains
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185000 USD
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1048000 USD
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307000 USD
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607 security
CY2017Q1 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions1
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495 security
CY2016Q1 us-gaap Benefits Losses And Expenses
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CY2016Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2017Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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427074000 USD
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68778000 USD
CY2017Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
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271664000 USD
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34254000 USD
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1961000 USD
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33270000 USD
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30423000 USD
CY2016Q1 us-gaap Ceded Premiums Written
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34218000 USD
CY2017Q1 us-gaap Ceded Premiums Written
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30409000 USD
CY2016Q4 us-gaap Commitments And Contingencies
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CY2017Q1 us-gaap Commitments And Contingencies
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CY2016Q4 us-gaap Common Stock Par Or Stated Value Per Share
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1
CY2017Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1
CY2016Q4 us-gaap Common Stock Shares Authorized
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1000000000 shares
CY2017Q1 us-gaap Common Stock Shares Authorized
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CY2016Q4 us-gaap Common Stock Shares Issued
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CY2017Q1 us-gaap Common Stock Shares Issued
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360171000 shares
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CY2017Q1 us-gaap Common Stock Shares Outstanding
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256872000 USD
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256872000 USD
CY2016Q4 us-gaap Debt Instrument Carrying Amount
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CY2017Q1 us-gaap Debt Instrument Carrying Amount
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10800000 USD
CY2017Q1 us-gaap Deferred Finance Costs Net
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10100000 USD
CY2016Q4 us-gaap Deferred Income Tax Assets Net
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18236000 USD
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CY2017Q1 us-gaap Depreciation Amortization And Accretion Net
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17079000 USD
CY2017Q1 us-gaap Description Of Regulatory Capital Requirements Under Insurance Regulations
DescriptionOfRegulatoryCapitalRequirementsUnderInsuranceRegulations
25 to 1
CY2016Q1 us-gaap Direct Premiums Earned
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CY2017Q1 us-gaap Direct Premiums Earned
DirectPremiumsEarned
259428000 USD
CY2016Q1 us-gaap Direct Premiums Written
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265291000 USD
CY2017Q1 us-gaap Direct Premiums Written
DirectPremiumsWritten
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CY2016Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2017Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2017Q1 us-gaap Earnings Per Share Diluted
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0.24
CY2016Q1 us-gaap Effective Income Tax Rate Continuing Operations
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0.35
CY2017Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.35
CY2016Q4 us-gaap Federal Home Loan Bank Advances Branch Of Fhlb Bank Amount Of Advances By Branch
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155000000 USD
CY2017Q1 us-gaap Federal Home Loan Bank Advances Branch Of Fhlb Bank Amount Of Advances By Branch
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155000000 USD
CY2017Q1 us-gaap Federal Home Loan Bank Advances General Debt Obligations Disclosures Collateral Pledged1
FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresCollateralPledged1
165000000 USD
CY2016Q1 us-gaap Gain Loss On Investments
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3056000 USD
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CY2017Q1 us-gaap Gains Losses On Extinguishment Of Debt
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0 USD
CY2016Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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103688000 USD
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173957000 USD
CY2016Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2017Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2017Q1 us-gaap Increase Decrease In Accrued Investment Income Receivable
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CY2016Q1 us-gaap Increase Decrease In Broker Dealer Related Receivables Payables Net
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-44289000 USD
CY2017Q1 us-gaap Increase Decrease In Broker Dealer Related Receivables Payables Net
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CY2016Q1 us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
705000 USD
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477000 USD
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289000 USD
CY2017Q1 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
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34654000 USD
CY2016Q1 us-gaap Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve
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CY2016Q1 us-gaap Increase Decrease In Other Insurance Liabilities
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CY2017Q1 us-gaap Increase Decrease In Other Insurance Liabilities
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-4800000 USD
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CY2017Q1 us-gaap Increase Decrease In Other Operating Capital Net
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12715000 USD
CY2016Q1 us-gaap Increase Decrease In Premiums Receivable
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-1284000 USD
CY2017Q1 us-gaap Increase Decrease In Premiums Receivable
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-485000 USD
CY2016Q1 us-gaap Increase Decrease In Prepaid Reinsurance Premiums
IncreaseDecreaseInPrepaidReinsurancePremiums
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CY2017Q1 us-gaap Increase Decrease In Prepaid Reinsurance Premiums
IncreaseDecreaseInPrepaidReinsurancePremiums
-15000 USD
CY2016Q1 us-gaap Increase Decrease In Reinsurance Recoverable
IncreaseDecreaseInReinsuranceRecoverable
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CY2017Q1 us-gaap Increase Decrease In Reinsurance Recoverable
IncreaseDecreaseInReinsuranceRecoverable
-3835000 USD
CY2016Q1 us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
9906000 USD
CY2017Q1 us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
7585000 USD
CY2016Q1 us-gaap Increase Decrease In Unearned Premiums Net
IncreaseDecreaseInUnearnedPremiumsNet
-9940000 USD
CY2017Q1 us-gaap Increase Decrease In Unearned Premiums Net
IncreaseDecreaseInUnearnedPremiumsNet
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CY2016Q1 us-gaap Incurred Claims Property Casualty And Liability
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CY2017Q1 us-gaap Interest Paid
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CY2017Q1 us-gaap Liabilities
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CY2016Q4 us-gaap Liabilities And Stockholders Equity
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CY2017Q1 us-gaap Liabilities And Stockholders Equity
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CY2016Q1 us-gaap Liability For Claims And Claims Adjustment Expense
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CY2016Q4 us-gaap Liability For Claims And Claims Adjustment Expense
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CY2017Q1 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
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CY2016Q4 us-gaap Liability For Claims And Claims Adjustment Expense Property Casualty Liability
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1438813000 USD
CY2017Q1 us-gaap Liability For Claims And Claims Adjustment Expense Property Casualty Liability
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1335042000 USD
CY2016Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year1
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204000 USD
CY2017Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year1
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331000 USD
CY2016Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
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221457000 USD
CY2017Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
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127224000 USD
CY2016Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
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85012000 USD
CY2017Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
27619000 USD
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LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
1848915000 USD
CY2016Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
1712270000 USD
CY2016Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
1388320000 USD
CY2017Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
1288384000 USD
CY2016Q4 us-gaap Line Of Credit
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CY2017Q1 us-gaap Line Of Credit
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CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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3536000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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77469000 USD
CY2016Q1 us-gaap Net Income Loss
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CY2017Q1 us-gaap Net Income Loss
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CY2016Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
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95660000 USD
CY2016Q1 us-gaap Net Investment Income
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27809000 USD
CY2017Q1 us-gaap Net Investment Income
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29477000 USD
CY2017Q1 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
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11666000 USD
CY2017Q1 us-gaap Operating Loss Carryforwards
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CY2016Q4 us-gaap Other Assets
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CY2017Q1 us-gaap Other Assets
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CY2016Q4 us-gaap Other Assets Fair Value Disclosure
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CY2017Q1 us-gaap Other Assets Fair Value Disclosure
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10730000 USD
CY2016Q1 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
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50827000 USD
CY2017Q1 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
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12121000 USD
CY2016Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
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308000 USD
CY2017Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
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153000 USD
CY2016Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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CY2017Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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31000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
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CY2017Q1 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
18458000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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49544000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
11999000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Tax
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26869000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
6459000 USD
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OtherIncome
6373000 USD
CY2017Q1 us-gaap Other Income
OtherIncome
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CY2017Q1 us-gaap Other Liabilities
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254578000 USD
CY2016 us-gaap Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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0 USD
CY2017Q1 us-gaap Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
0 USD
CY2016Q1 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
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0 USD
CY2017Q1 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
0 USD
CY2016Q1 us-gaap Other Underwriting Expense
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39777000 USD
CY2017Q1 us-gaap Other Underwriting Expense
OtherUnderwritingExpense
40765000 USD
CY2016Q1 us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
221657000 USD
CY2017Q1 us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
127555000 USD
CY2016Q1 us-gaap Payments Of Debt Issuance Costs
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0 USD
CY2017Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1523000 USD
CY2016Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4971000 USD
CY2017Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
6722000 USD
CY2016Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
288273000 USD
CY2017Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
187077000 USD
CY2016Q1 us-gaap Payments To Acquire Available For Sale Securities Equity
PaymentsToAcquireAvailableForSaleSecuritiesEquity
3109000 USD
CY2017Q1 us-gaap Payments To Acquire Available For Sale Securities Equity
PaymentsToAcquireAvailableForSaleSecuritiesEquity
19000 USD
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
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1916000 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4014000 USD
CY2016Q1 us-gaap Policyholder Benefits And Claims Incurred Gross
PolicyholderBenefitsAndClaimsIncurredGross
92432000 USD
CY2017Q1 us-gaap Policyholder Benefits And Claims Incurred Gross
PolicyholderBenefitsAndClaimsIncurredGross
32413000 USD
CY2016Q1 us-gaap Premiums Earned Net Property And Casualty
PremiumsEarnedNetPropertyAndCasualty
221341000 USD
CY2017Q1 us-gaap Premiums Earned Net Property And Casualty
PremiumsEarnedNetPropertyAndCasualty
229103000 USD
CY2016Q4 us-gaap Premiums Receivable At Carrying Value
PremiumsReceivableAtCarryingValue
52392000 USD
CY2017Q1 us-gaap Premiums Receivable At Carrying Value
PremiumsReceivableAtCarryingValue
51907000 USD
CY2016Q1 us-gaap Premiums Written Net
PremiumsWrittenNet
231281000 USD
CY2017Q1 us-gaap Premiums Written Net
PremiumsWrittenNet
236702000 USD
CY2016Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
155000000 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
CY2017Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
150000000 USD
CY2016Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 USD
CY2016Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
139863000 USD
CY2017Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
199234000 USD
CY2016Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
315927000 USD
CY2017Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
33980000 USD
CY2016Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Equity
ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
2525000 USD
CY2017Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Equity
ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
0 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
36088000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
38314000 USD
CY2017Q1 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-333000 USD
CY2016Q1 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Assumed
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountAssumed
101000 USD
CY2017Q1 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Assumed
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountAssumed
105000 USD
CY2016Q1 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Ceded
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountCeded
7521000 USD
CY2017Q1 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Ceded
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountCeded
4899000 USD
CY2016Q4 us-gaap Reinsurance Recoverables On Paid Losses
ReinsuranceRecoverablesOnPaidLosses
4964000 USD
CY2017Q1 us-gaap Reinsurance Recoverables On Paid Losses
ReinsuranceRecoverablesOnPaidLosses
5129000 USD
CY2015Q4 us-gaap Reinsurance Recoverables On Unpaid Losses
ReinsuranceRecoverablesOnUnpaidLosses
44487000 USD
CY2016Q1 us-gaap Reinsurance Recoverables On Unpaid Losses
ReinsuranceRecoverablesOnUnpaidLosses
41119000 USD
CY2016Q4 us-gaap Reinsurance Recoverables On Unpaid Losses
ReinsuranceRecoverablesOnUnpaidLosses
50493000 USD
CY2017Q1 us-gaap Reinsurance Recoverables On Unpaid Losses
ReinsuranceRecoverablesOnUnpaidLosses
46658000 USD
CY2016Q1 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
134105000 USD
CY2017Q1 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
0 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
632564000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
722515000 USD
CY2016Q1 us-gaap Revenues
Revenues
258579000 USD
CY2017Q1 us-gaap Revenues
Revenues
260880000 USD
CY2016Q4 us-gaap Senior Notes
SeniorNotes
417406000 USD
CY2017Q1 us-gaap Senior Notes
SeniorNotes
417695000 USD
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
2346812000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
2548842000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
2647531000 USD
CY2016Q1 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
92479000 USD
CY2017Q1 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
80416000 USD
CY2016Q1 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-7000000 USD
CY2016Q1 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-7467000 USD
CY2017Q1 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-53000000 USD
CY2017Q1 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-52797000 USD
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
18737000 shares
CY2017Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
18737000 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
150359000 USD
CY2017Q1 us-gaap Treasury Stock Value
TreasuryStockValue
150359000 USD
CY2016Q4 us-gaap Unearned Premiums
UnearnedPremiums
329737000 USD
CY2017Q1 us-gaap Unearned Premiums
UnearnedPremiums
337322000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
139900000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
28900000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
49100000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
118400000 USD
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
431365000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
402175000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
340144000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
341009000 shares
CY2017Q1 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;text-align:justify;padding-left:12px;font-size:12pt;"><font style="font-family:Roboto Black,sans-serif;font-size:12pt;font-style:normal;font-weight:bold;text-decoration:none;">New Accounting Pronouncements</font></div><div style="line-height:120%;padding-bottom:4px;text-align:justify;padding-left:12px;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;font-weight:bold;">Adopted Accounting Standards</font></div><div style="line-height:120%;padding-bottom:4px;text-align:justify;padding-left:12px;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;font-style:italic;">Improvements to Employee Share-Based Compensation Accounting</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:12px;text-indent:0px;font-size:9.5pt;"><font style="font-family:Roboto,sans-serif;font-size:9.5pt;">In March 2016, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued updated guidance that simplifies several aspects of the accounting for employee share-based compensation including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification of related amounts within the statement of cash flows. The updated guidance requires that, prospectively, all tax effects related to share-based compensation be made through the statement of operations at the time of settlement. In contrast, the previous guidance required excess tax benefits to be recognized in paid-in capital. The updated guidance also removes the requirement to delay recognition of a tax benefit until it reduces current taxes payable. This change is required to be applied on a modified retrospective basis, with a cumulative effect adjustment to opening retained earnings. Additionally, all tax related cash flows resulting from share-based compensation are to be reported as operating activities on the statement of cash flows, a change from the existing requirement to present tax benefits as an inflow from financing activities and an outflow from operating activities. Finally, for tax withholding purposes, entities will be allowed to withhold an amount of shares up to the employee&#8217;s maximum individual tax rate (as opposed to the minimum statutory tax rate) in the relevant jurisdiction without resulting in liability classification of the award. The change in tax withholding is to be applied on a modified retrospective approach. This updated guidance became effective January 1, 2017. We have adopted this guidance for the period ending March 31, 2017 and as a result of the adoption:</font></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:9.5pt;padding-left:24px;"><font style="font-family:Roboto,sans-serif;font-size:9.5pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:9.5pt;"><font style="font-family:Roboto,sans-serif;font-size:9.5pt;">We recognized discrete tax benefits of </font><font style="font-family:Roboto;font-size:9.5pt;">$1.5 million</font><font style="font-family:Roboto,sans-serif;font-size:9.5pt;"> in the provision for income taxes on our statement of operations for the three months ended March 31, 2017 related to excess tax benefits upon vesting of stock-based awards during the period.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:9.5pt;padding-left:24px;"><font style="font-family:Roboto,sans-serif;font-size:9.5pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:9.5pt;"><font style="font-family:Roboto,sans-serif;font-size:9.5pt;">We recognized a cumulative effect adjustment related to the recognition of a deferred tax asset related to suspended tax benefits from vesting transactions occurring in prior years and from the elimination of our forfeiture estimate on stock-based awards, which was previously applied only to awards with service conditions.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:9.5pt;padding-left:24px;"><font style="font-family:Roboto,sans-serif;font-size:9.5pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:9.5pt;"><font style="font-family:Roboto,sans-serif;font-size:9.5pt;">Prior to adoption, cash flows related to excess tax benefits from share-based compensation were included in financing activities. We have reclassified excess tax benefits related to share-based compensation for the three months ended March 31, 2016 to operating activities.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:9.5pt;padding-left:24px;"><font style="font-family:Roboto,sans-serif;font-size:9.5pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:9.5pt;"><font style="font-family:Roboto,sans-serif;font-size:9.5pt;">Prior to adoption, cash flows related to employee taxes paid for withheld shares were included in operating activities. We have reclassified employee taxes paid for withheld shares for the three months ended March 31, 2016 to financing activities.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:0px;text-align:justify;padding-left:12px;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;text-align:justify;padding-left:12px;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;font-weight:bold;">Prospective Accounting Standards</font></div><div style="line-height:120%;padding-bottom:4px;text-align:justify;padding-left:12px;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;font-style:italic;">Premium Amortization on Purchased Callable Debt Securities</font></div><div style="line-height:120%;text-align:justify;padding-left:12px;text-indent:0px;font-size:9.5pt;"><font style="font-family:Roboto,sans-serif;font-size:9.5pt;">In March 2017, the FASB issued updated guidance to amend the amortization period for certain purchased callable debt securities held at a premium shortening the amortization period to the earliest call date. Under current GAAP, there is diversity in practice in the amortization period for premiums of callable debt securities and in how the potential for exercise of a call is factored into current impairment assessments. This updated guidance aligns with how callable debt securities, in the United States, are generally quoted, priced, and traded assuming a model that incorporates consideration of calls (also referred to as &#8220;yield-to-worst&#8221; pricing). The updated guidance is effective for annual periods beginning after December 15, 2018, including interim periods within those annual periods. We are currently evaluating the impacts the adoption of this guidance will have on our consolidated financial statements, but do not expect it to have a material impact on our consolidated financial statements or disclosures. We currently account for premium amortization on our purchased callable debt securities on a yield-to-worst basis, which generally aligns with the earliest call date. </font></div><div style="line-height:120%;padding-bottom:4px;text-align:justify;padding-left:12px;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;text-align:justify;padding-left:12px;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;font-style:italic;">Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost</font></div><div style="line-height:120%;text-align:justify;padding-left:12px;text-indent:0px;font-size:9.5pt;"><font style="font-family:Roboto,sans-serif;font-size:9.5pt;">In March 2017, the FASB issued updated guidance that improves the reporting of net benefit cost in the financial statements. The updated guidance requires that an employer report the service cost component in the same financial statement caption as other compensation costs arising from services rendered by employees during the period. The other components of net benefit cost are required to be presented in the statement of operations separately from the service cost component and outside a subtotal of income from operations, if one is presented. Current guidance does not prescribe where the amount of net benefit cost should be presented in an employer&#8217;s statement of operations and does not require entities to disclose by line item the amount of net benefit cost that is included in the statement of operations. The updated guidance is effective for annual periods beginning after December 15, 2017, including interim periods within those annual periods. We are currently evaluating the impacts the adoption of this guidance will have on our consolidated financial statements, but do not expect it to have a material impact on our consolidated statement of operations or financial statement disclosures. </font></div><div style="line-height:120%;text-align:justify;padding-left:12px;text-indent:0px;font-size:9.5pt;"><font style="font-family:Roboto,sans-serif;font-size:9.5pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;text-align:justify;padding-left:12px;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;font-style:italic;">Measurement of Credit Losses on Financial Instruments</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:12px;text-indent:0px;font-size:9.5pt;"><font style="font-family:Roboto,sans-serif;font-size:9.5pt;">In June 2016, the FASB issued updated guidance that requires immediate recognition of estimated credit losses expected to occur over the remaining life of many financial instruments. Entities will be required to utilize a current expected credit losses (&#8220;CECL&#8221;) methodology that incorporates their forecasts of future economic conditions into their loss estimate unless such forecast is not reasonable and supportable, in which case the entity will revert to historical loss experience. Any allowance for CECL reduces the amortized cost basis of the financial instrument to the amount an entity expects to collect. Credit losses relating to available-for-sale fixed maturity securities are to be recorded through an allowance for credit losses, rather than a write-down of the asset, with the amount of the allowance limited to the amount by which fair value is less than amortized cost. In addition, the length of time a security has been in an unrealized loss position will no longer impact the determination of whether a credit loss exists. The updated guidance is not prescriptive about certain aspects of estimating expected credit losses, including the specific methodology to use, and therefore will require significant judgment in application. The updated guidance is effective for annual periods beginning after December 15, 2019, including interim periods within those annual periods. Early adoption is permitted for annual and interim periods in fiscal years beginning after December 15, 2018. We are currently evaluating the impacts the adoption of this guidance will have on our consolidated financial statements, but do not expect it to have a material impact on our consolidated financial statements or disclosures.</font></div><div style="line-height:120%;padding-bottom:0px;text-align:justify;font-size:12pt;"><font style="font-family:Roboto Black,sans-serif;font-size:12pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;text-align:justify;padding-left:12px;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;font-style:italic;">Recognition and Measurement of Financial Assets and Financial Liabilities</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:12px;text-indent:0px;font-size:9.5pt;"><font style="font-family:Roboto,sans-serif;font-size:9.5pt;">In January 2016, the FASB issued updated guidance to address the recognition, measurement, presentation, and disclosure of certain financial instruments. The updated guidance requires equity investments, except those accounted for under the equity method of accounting, that have a readily determinable fair value to be measured at fair value with changes in fair value recognized in net income. Equity investments that do not have readily determinable fair values may be remeasured at fair value either upon the occurrence of an observable price change or upon identification of an impairment. A qualitative assessment for impairment is required for equity investments without readily determinable fair values. The updated guidance also eliminates the requirement to disclose the method and significant assumptions used to estimate the fair value of financial instruments measured at amortized cost on the balance sheet. The updated guidance is effective for annual periods beginning after December 15, 2017, including interim periods within those annual periods and will require recognition of a cumulative effect adjustment at adoption. We do not currently expect the adoption of this guidance to impact our consolidated financial position or liquidity.</font></div></div>
CY2017Q1 us-gaap Schedule Of Liability For Unpaid Claims And Claims Adjustment Expense
ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;padding-left:12px;text-indent:0px;font-size:9.5pt;"><font style="font-family:Roboto,sans-serif;font-size:9.5pt;">The following table provides a reconciliation of beginning and ending loss reserves as of and for the </font><font style="font-family:Roboto,sans-serif;font-size:9.5pt;">three</font><font style="font-family:Roboto,sans-serif;font-size:9.5pt;"> months ended </font><font style="font-family:Roboto,sans-serif;font-size:9.5pt;">March&#160;31, 2017</font><font style="font-family:Roboto,sans-serif;font-size:9.5pt;"> and </font><font style="font-family:Roboto,sans-serif;font-size:9.5pt;">2016</font><font style="font-family:Roboto,sans-serif;font-size:9.5pt;">:</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;padding-left:12px;text-indent:0px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:96.36184857423795%;border-collapse:collapse;text-align:left;"><tr><td colspan="9" rowspan="1"></td></tr><tr><td style="width:56%;" rowspan="1" colspan="1"></td><td style="width:2%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:18%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:2%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:18%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">Three months ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;font-style:italic;">(In thousands)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #003b5c;background-color:#d2edff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;font-weight:bold;">2017</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">2016</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">Reserve at beginning of period</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#d2edff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;font-weight:bold;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;background-color:#d2edff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;font-weight:bold;">1,438,813</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;background-color:#d2edff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">1,893,402</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">Less reinsurance recoverable</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #003b5c;background-color:#d2edff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;font-weight:bold;">50,493</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;background-color:#d2edff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">44,487</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">Net reserve at beginning of period</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;background-color:#d2edff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;font-weight:bold;">1,388,320</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;background-color:#d2edff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">1,848,915</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#d2edff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">Losses incurred:</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;background-color:#d2edff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">Losses and LAE incurred in respect of default notices received in:</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;background-color:#d2edff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">Current year</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;background-color:#d2edff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;font-weight:bold;">80,416</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;background-color:#d2edff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">92,479</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">Prior years </font><font style="font-family:Roboto,sans-serif;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(1)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #003b5c;background-color:#d2edff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;font-weight:bold;">(52,797</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid 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style="font-family:Roboto,sans-serif;font-size:8pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">Total losses incurred</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #003b5c;background-color:#d2edff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;font-weight:bold;">27,619</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;background-color:#d2edff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">85,012</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#d2edff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">Losses paid:</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;background-color:#d2edff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">Losses and LAE paid in respect of default notices received in:</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;background-color:#d2edff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">Current year</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;background-color:#d2edff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;font-weight:bold;">331</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;background-color:#d2edff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">204</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">Prior years</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;background-color:#d2edff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;font-weight:bold;">127,224</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;background-color:#d2edff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">221,457</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">Reinsurance terminations</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #003b5c;background-color:#d2edff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;font-weight:bold;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;background-color:#d2edff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">(4</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">Total losses paid</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #003b5c;background-color:#d2edff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;font-weight:bold;">127,555</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;background-color:#d2edff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">221,657</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">Net reserve at end of period</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;background-color:#d2edff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;font-weight:bold;">1,288,384</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;background-color:#d2edff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">1,712,270</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">Plus reinsurance recoverables</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #003b5c;background-color:#d2edff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;font-weight:bold;">46,658</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;background-color:#d2edff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">41,119</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #003b5c;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">Reserve at end of period</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#d2edff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;font-weight:bold;">$</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #003b5c;background-color:#d2edff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;font-weight:bold;">1,335,042</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #003b5c;background-color:#d2edff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #003b5c;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">1,753,389</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #003b5c;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:9pt;padding-left:12px;"><font style="font-family:Roboto,sans-serif;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(1)</sup>&#160;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:9pt;"><font style="font-family:Roboto,sans-serif;font-size:9pt;">A negative number for prior year losses incurred indicates a redundancy of prior year loss reserves. See the following table for more information about prior year loss development.</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:12px;text-indent:0px;font-size:9.5pt;"><font style="font-family:Roboto,sans-serif;font-size:9.5pt;"></font></div></div>

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