2017 Q2 Form 10-Q Financial Statement

#000087643717000048 Filed on August 04, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $263.3M $263.5M
YoY Change -0.08% 8.39%
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 $2.584M $2.245M
YoY Change 15.1% 9.73%
% of Gross Profit
Operating Expenses $68.40M $84.20M
YoY Change -18.76% -24.01%
Operating Profit
YoY Change
Interest Expense -$14.20M -$12.20M
YoY Change 16.39% -29.89%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $180.6M $165.2M
YoY Change 9.31% 43.72%
Income Tax $61.99M $56.02M
% Of Pretax Income 34.32% 33.9%
Net Earnings $118.6M $109.2M
YoY Change 8.61% -3.9%
Net Earnings / Revenue 45.05% 41.44%
Basic Earnings Per Share $0.32 $0.32
Diluted Earnings Per Share $0.31 $0.26
COMMON SHARES
Basic Shares Outstanding 366.9M shares 340.7M shares
Diluted Shares Outstanding 394.5M shares 446.1M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $127.9M $301.0M
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 $42.21M $30.80M
YoY Change 37.05% 6.21%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $4.708B $4.566B
YoY Change 3.11% 0.31%
Other Assets $481.0M $617.0M
YoY Change -22.04%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $5.600B $5.745B
YoY Change -2.52% 9.49%
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 $830.0M $1.048B
YoY Change -20.8% -19.14%
Other Long-Term Liabilities $236.0M $244.0M
YoY Change -3.28% -31.65%
Total Long-Term Liabilities $1.066B $1.292B
YoY Change -17.49% -21.84%
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities $1.066B $1.292B
Total Liabilities $2.605B $3.233B
YoY Change -19.42% -19.33%
SHAREHOLDERS EQUITY
Retained Earnings $819.4M $468.5M
YoY Change 74.91%
Common Stock $2.213B $2.002B
YoY Change 10.56%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00 $3.362M
YoY Change -100.0%
Treasury Stock Shares 0.000 shares 440.0K shares
Shareholders Equity $2.995B $2.515B
YoY Change
Total Liabilities & Shareholders Equity $5.600B $5.745B
YoY Change -2.52% 9.49%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $118.6M $109.2M
YoY Change 8.61% -3.9%
Depreciation, Depletion And Amortization $2.584M $2.245M
YoY Change 15.1% 9.73%
Cash From Operating Activities $48.10M $51.50M
YoY Change -6.6% -289.34%
INVESTING ACTIVITIES
Capital Expenditures -$5.700M -$800.0K
YoY Change 612.5% -27.27%
Acquisitions
YoY Change
Other Investing Activities -$41.40M $52.60M
YoY Change -178.71% 361.4%
Cash From Investing Activities -$47.00M $51.70M
YoY Change -190.91% 401.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -300.3M -52.10M
YoY Change 476.39%
NET CHANGE
Cash From Operating Activities 48.10M 51.50M
Cash From Investing Activities -47.00M 51.70M
Cash From Financing Activities -300.3M -52.10M
Net Change In Cash -299.2M 51.10M
YoY Change -685.52% -402.37%
FREE CASH FLOW
Cash From Operating Activities $48.10M $51.50M
Capital Expenditures -$5.700M -$800.0K
Free Cash Flow $53.80M $52.30M
YoY Change 2.87% -300.38%

Facts In Submission

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CY2016Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
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50915000 USD
CY2017Q2 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
23210000 USD
CY2016Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
2370345000 USD
CY2017Q2 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
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1552082000 USD
CY2016Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
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294916000 USD
CY2017Q2 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
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208040000 USD
CY2017Q2 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
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1026851000 USD
CY2017Q2 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
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1030223000 USD
CY2017Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
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1356023000 USD
CY2017Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
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CY2017Q2 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
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1294632000 USD
CY2017Q2 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
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1321793000 USD
CY2017Q2 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
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4056843000 USD
CY2017Q2 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
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4019337000 USD
CY2017Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
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341831000 USD
CY2017Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
342028000 USD
CY2016Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
4685222000 USD
CY2017Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
4701211000 USD
CY2016Q4 us-gaap Available For Sale Securities Equity Securities
AvailableForSaleSecuritiesEquitySecurities
7128000 USD
CY2017Q2 us-gaap Available For Sale Securities Equity Securities
AvailableForSaleSecuritiesEquitySecurities
7209000 USD
CY2016Q2 us-gaap Available For Sale Securities Gross Realized Gains
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1404000 USD
us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
5509000 USD
CY2017Q2 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
644000 USD
us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
829000 USD
CY2016Q2 us-gaap Availableforsale Securities Gross Realized Losses Excluding Other Than Temporary Impairments
AvailableforsaleSecuritiesGrossRealizedLossesExcludingOtherThanTemporaryImpairments
568000 USD
us-gaap Availableforsale Securities Gross Realized Losses Excluding Other Than Temporary Impairments
AvailableforsaleSecuritiesGrossRealizedLossesExcludingOtherThanTemporaryImpairments
1617000 USD
CY2017Q2 us-gaap Availableforsale Securities Gross Realized Losses Excluding Other Than Temporary Impairments
AvailableforsaleSecuritiesGrossRealizedLossesExcludingOtherThanTemporaryImpairments
686000 USD
us-gaap Availableforsale Securities Gross Realized Losses Excluding Other Than Temporary Impairments
AvailableforsaleSecuritiesGrossRealizedLossesExcludingOtherThanTemporaryImpairments
993000 USD
CY2016Q4 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions1
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607 security
CY2017Q2 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions1
AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositions1
404 security
CY2016Q2 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
98295000 USD
us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
253186000 USD
CY2017Q2 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
82696000 USD
us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
169619000 USD
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
181120000 USD
CY2016Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
300974000 USD
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CashAndCashEquivalentsAtCarryingValue
155410000 USD
CY2017Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
127908000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
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119854000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
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-27502000 USD
CY2016Q2 us-gaap Ceded Premiums Earned
CededPremiumsEarned
32292000 USD
us-gaap Ceded Premiums Earned
CededPremiumsEarned
66546000 USD
CY2017Q2 us-gaap Ceded Premiums Earned
CededPremiumsEarned
30106000 USD
us-gaap Ceded Premiums Earned
CededPremiumsEarned
60529000 USD
CY2016Q2 us-gaap Ceded Premiums Written
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32280000 USD
us-gaap Ceded Premiums Written
CededPremiumsWritten
66498000 USD
CY2017Q2 us-gaap Ceded Premiums Written
CededPremiumsWritten
30096000 USD
us-gaap Ceded Premiums Written
CededPremiumsWritten
60505000 USD
CY2016Q4 us-gaap Commitments And Contingencies
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CY2017Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
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CY2016Q4 us-gaap Common Stock Par Or Stated Value Per Share
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1
CY2017Q2 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
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CommonStockSharesAuthorized
1000000000 shares
CY2016Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
359400000 shares
CY2017Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
370557000 shares
CY2016Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
340663000 shares
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CommonStockSharesOutstanding
370557000 shares
CY2016Q4 us-gaap Common Stock Value
CommonStockValue
359400000 USD
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CommonStockValue
370557000 USD
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ComprehensiveIncomeNetOfTax
165397000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
284132000 USD
CY2017Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
144229000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
246026000 USD
CY2016Q4 us-gaap Convertible Debt
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349461000 USD
CY2017Q2 us-gaap Convertible Debt
ConvertibleDebt
0 USD
CY2016Q4 us-gaap Convertible Subordinated Debt
ConvertibleSubordinatedDebt
256872000 USD
CY2017Q2 us-gaap Convertible Subordinated Debt
ConvertibleSubordinatedDebt
256872000 USD
CY2016Q4 us-gaap Debt Instrument Carrying Amount
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1189500000 USD
CY2017Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
836900000 USD
CY2016Q4 us-gaap Deferred Finance Costs Net
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10800000 USD
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7000000 USD
CY2016Q4 us-gaap Deferred Income Tax Assets Net
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607655000 USD
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481389000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
88157000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
106163000 USD
CY2016Q2 us-gaap Deferred Policy Acquisition Cost Amortization Expense
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2245000 USD
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DeferredPolicyAcquisitionCostAmortizationExpense
2584000 USD
us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
4814000 USD
CY2016Q4 us-gaap Deferred Policy Acquisition Costs
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17759000 USD
CY2017Q2 us-gaap Deferred Policy Acquisition Costs
DeferredPolicyAcquisitionCosts
18677000 USD
CY2016Q4 us-gaap Deferred Tax Assets Valuation Allowance
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0 USD
CY2017Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0 USD
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
28477000 USD
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
33191000 USD
us-gaap Description Of Regulatory Capital Requirements Under Insurance Regulations
DescriptionOfRegulatoryCapitalRequirementsUnderInsuranceRegulations
25 to 1
CY2016Q2 us-gaap Direct Premiums Earned
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263566000 USD
us-gaap Direct Premiums Earned
DirectPremiumsEarned
518953000 USD
CY2017Q2 us-gaap Direct Premiums Earned
DirectPremiumsEarned
261180000 USD
us-gaap Direct Premiums Earned
DirectPremiumsEarned
520608000 USD
CY2016Q2 us-gaap Direct Premiums Written
DirectPremiumsWritten
282113000 USD
us-gaap Direct Premiums Written
DirectPremiumsWritten
547404000 USD
CY2017Q2 us-gaap Direct Premiums Written
DirectPremiumsWritten
275245000 USD
us-gaap Direct Premiums Written
DirectPremiumsWritten
541068000 USD
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.32
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.52
CY2017Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.32
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.59
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.26
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.43
CY2017Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.31
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.55
CY2016Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.35
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.35
CY2017Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.35
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
FederalHomeLoanBankAdvancesBranchOfFHLBBankAmountOfAdvancesByBranch
155000000 USD
CY2017Q2 us-gaap Federal Home Loan Bank Advances Branch Of Fhlb Bank Amount Of Advances By Branch
FederalHomeLoanBankAdvancesBranchOfFHLBBankAmountOfAdvancesByBranch
155000000 USD
CY2017Q2 us-gaap Federal Home Loan Bank Advances General Debt Obligations Disclosures Collateral Pledged1
FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresCollateralPledged1
165900000 USD
CY2016Q2 us-gaap Gain Loss On Investments
GainLossOnInvestments
836000 USD
us-gaap Gain Loss On Investments
GainLossOnInvestments
3892000 USD
CY2017Q2 us-gaap Gain Loss On Investments
GainLossOnInvestments
-42000 USD
us-gaap Gain Loss On Investments
GainLossOnInvestments
-164000 USD
us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
3892000 USD
us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
-164000 USD
CY2016Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1868000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-15308000 USD
CY2017Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-65000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-65000 USD
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
165239000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
268927000 USD
CY2017Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
180616000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
354573000 USD
CY2016Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
56018000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
90515000 USD
CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
61994000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
146153000 USD
us-gaap Increase Decrease In Accrued Investment Income Receivable
IncreaseDecreaseInAccruedInvestmentIncomeReceivable
-515000 USD
us-gaap Increase Decrease In Accrued Investment Income Receivable
IncreaseDecreaseInAccruedInvestmentIncomeReceivable
-43000 USD
us-gaap Increase Decrease In Broker Dealer Related Receivables Payables Net
IncreaseDecreaseInBrokerDealerRelatedReceivablesPayablesNet
-24519000 USD
us-gaap Increase Decrease In Broker Dealer Related Receivables Payables Net
IncreaseDecreaseInBrokerDealerRelatedReceivablesPayablesNet
-3447000 USD
us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
1439000 USD
us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
918000 USD
us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
523000 USD
us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
32991000 USD
us-gaap Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve
IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve
-261069000 USD
us-gaap Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve
IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve
-251724000 USD
us-gaap Increase Decrease In Other Insurance Liabilities
IncreaseDecreaseInOtherInsuranceLiabilities
-7300000 USD
us-gaap Increase Decrease In Other Insurance Liabilities
IncreaseDecreaseInOtherInsuranceLiabilities
-11900000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
8090000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
14205000 USD
us-gaap Increase Decrease In Premiums Receivable
IncreaseDecreaseInPremiumsReceivable
-1867000 USD
us-gaap Increase Decrease In Premiums Receivable
IncreaseDecreaseInPremiumsReceivable
-1048000 USD
us-gaap Increase Decrease In Prepaid Reinsurance Premiums
IncreaseDecreaseInPrepaidReinsurancePremiums
-48000 USD
us-gaap Increase Decrease In Prepaid Reinsurance Premiums
IncreaseDecreaseInPrepaidReinsurancePremiums
-25000 USD
us-gaap Increase Decrease In Reinsurance Recoverable
IncreaseDecreaseInReinsuranceRecoverable
728000 USD
us-gaap Increase Decrease In Reinsurance Recoverable
IncreaseDecreaseInReinsuranceRecoverable
-5710000 USD
us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
28451000 USD
us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
22273000 USD
CY2016Q2 us-gaap Increase Decrease In Unearned Premiums Net
IncreaseDecreaseInUnearnedPremiumsNet
-18559000 USD
us-gaap Increase Decrease In Unearned Premiums Net
IncreaseDecreaseInUnearnedPremiumsNet
-28499000 USD
CY2017Q2 us-gaap Increase Decrease In Unearned Premiums Net
IncreaseDecreaseInUnearnedPremiumsNet
-14698000 USD
us-gaap Increase Decrease In Unearned Premiums Net
IncreaseDecreaseInUnearnedPremiumsNet
-22297000 USD
CY2016Q2 us-gaap Incurred Claims Property Casualty And Liability
IncurredClaimsPropertyCasualtyAndLiability
46590000 USD
us-gaap Incurred Claims Property Casualty And Liability
IncurredClaimsPropertyCasualtyAndLiability
131602000 USD
CY2017Q2 us-gaap Incurred Claims Property Casualty And Liability
IncurredClaimsPropertyCasualtyAndLiability
27339000 USD
us-gaap Incurred Claims Property Casualty And Liability
IncurredClaimsPropertyCasualtyAndLiability
54958000 USD
CY2016Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
12244000 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
26945000 USD
CY2017Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
14197000 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
30506000 USD
us-gaap Interest Paid
InterestPaid
28700000 USD
us-gaap Interest Paid
InterestPaid
32200000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1630000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4973000 USD
CY2016Q4 us-gaap Liabilities
Liabilities
3185687000 USD
CY2017Q2 us-gaap Liabilities
Liabilities
2605107000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
5734529000 USD
CY2017Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
5600168000 USD
CY2015Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
1893402000 USD
CY2016Q2 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
1632333000 USD
CY2016Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
1438813000 USD
CY2017Q2 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
1187089000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
6723000 USD
CY2016Q4 us-gaap Other Assets Fair Value Disclosure
OtherAssetsFairValueDisclosure
11748000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
295000 USD
CY2016Q4 us-gaap Liability For Claims And Claims Adjustment Expense Property Casualty Liability
LiabilityForClaimsAndClaimsAdjustmentExpensePropertyCasualtyLiability
1438813000 USD
CY2017Q2 us-gaap Liability For Claims And Claims Adjustment Expense Property Casualty Liability
LiabilityForClaimsAndClaimsAdjustmentExpensePropertyCasualtyLiability
1187089000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidCurrentYear1
1396000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidCurrentYear1
2125000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears1
392007000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears1
298847000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
131602000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
54958000 USD
CY2015Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
1848915000 USD
CY2016Q2 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
1587118000 USD
CY2016Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
1388320000 USD
CY2017Q2 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
1142306000 USD
CY2016Q4 us-gaap Long Term Debt
LongTermDebt
1178700000 USD
CY2017Q2 us-gaap Long Term Debt
LongTermDebt
829900000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-196182000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-158477000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
261043000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
5419000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
54993000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
125556000 USD
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
109221000 USD
us-gaap Net Income Loss
NetIncomeLoss
178412000 USD
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
118622000 USD
us-gaap Net Income Loss
NetIncomeLoss
208420000 USD
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
116688000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
195161000 USD
CY2017Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
122890000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
218550000 USD
CY2016Q2 us-gaap Net Investment Income
NetInvestmentIncome
27248000 USD
us-gaap Net Investment Income
NetInvestmentIncome
55057000 USD
CY2017Q2 us-gaap Net Investment Income
NetInvestmentIncome
29716000 USD
us-gaap Net Investment Income
NetInvestmentIncome
59193000 USD
us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
36510000 USD
CY2017Q2 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
1200000000 USD
CY2016Q4 us-gaap Other Assets
OtherAssets
73345000 USD
CY2017Q2 us-gaap Other Assets
OtherAssets
75254000 USD
CY2017Q2 us-gaap Other Assets Fair Value Disclosure
OtherAssetsFairValueDisclosure
10271000 USD
CY2016Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
56338000 USD
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
107165000 USD
CY2017Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
25749000 USD
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
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<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 adopted this guidance in the first quarter of 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 six months ended June 30, 2017 related to excess tax benefits upon vesting of share-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 share-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 prior year period 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 prior year period 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;">Stock Compensation - Scope of Modification Accounting</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 May 2017, the FASB issued updated guidance related to a change in the terms or conditions (modification) of a share-based award. The updated guidance provides that an entity should account for the effects of a modification unless the fair value and vesting conditions of the modified award and the classification of the award (equity or liability instrument) are the same as the original award immediately before the modification. The updated guidance addresses the current diversity in practice on applying modification accounting, as some entities evaluate whether changes to awards are substantive, which is not prescribed within the current accounting guidance. The updated guidance is effective for annual periods beginning after December 15, 2017, including interim periods within those annual periods. Early adoption is permitted, including adoption in any interim period. 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%;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;">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. </font><font style="font-family:Roboto,sans-serif;font-size:9.5pt;"> </font><font style="font-family:Roboto,sans-serif;font-size:9.5pt;"> 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 financial statements or 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. Further, the updated guidance clarifies that entities should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entities other deferred tax assets. 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>
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;">six</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;">June&#160;30, 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;">Six months ended June 30,</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;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;" 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 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#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;font-weight:bold;">50,493</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><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;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;" 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;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;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 colspan="9" style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="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></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 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#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;">196,543</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;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;">(103,948</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-weight:bold;">)</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;">(64,941</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 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;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;">54,958</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><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;">131,602</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;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;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 colspan="9" style="vertical-align:bottom;border-bottom:1px solid #d0d0ce;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="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></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;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;">2,125</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><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;">1,396</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;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;">298,847</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><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;">392,007</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;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;" 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;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;">300,972</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><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;">393,399</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;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;">1,142,306</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><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;">1,587,118</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;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;">44,783</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><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;">45,215</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;" 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;">$</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #003b5c;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;font-weight:bold;">1,187,089</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #003b5c;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #003b5c;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:Roboto,sans-serif;font-size:8pt;">$</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;">1,632,333</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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