| Liability for unpaid losses and LAE |
The following table provides an analysis of changes in the liability for unpaid losses and LAE on a GAAP basis ($ in thousands): | | | | | | | | | | | | | | | | | | Three months ended | | Nine months ended | | September 30, | | September 30, | | 2016 | | 2015 | | 2016 | | 2015 | Balance at Beginning of Period | | | | | | | | Unpaid losses on known claims | $ | 236,947 |
| | $ | 245,863 |
| | $ | 237,660 |
| | $ | 235,037 |
| IBNR losses | 290,767 |
| | 281,147 |
| | 290,097 |
| | 277,482 |
| LAE | 138,496 |
| | 154,017 |
| | 142,207 |
| | 155,658 |
| Total unpaid losses and LAE | 666,210 |
| | 681,028 |
| | 669,965 |
| | 668,177 |
| Reinsurance recoverables | (18,487 | ) | | (14,155 | ) | | (14,694 | ) | | (14,370 | ) | Unpaid losses and LAE, net of reinsurance recoverables | 647,723 |
| | 666,873 |
| | 655,271 |
| | 653,808 |
| Current Activity | | | | | | | | Loss and LAE incurred: | | | | | | | | Current accident year | 281,456 |
| | 267,412 |
| | 828,310 |
| | 798,442 |
| Prior accident years | (590 | ) | | (11,349 | ) | | (18,646 | ) | | (23,953 | ) | Total loss and LAE incurred | 280,866 |
| | 256,063 |
| | 809,664 |
| | 774,489 |
| Loss and LAE payments: | | | | | | | | Current accident year | (197,437 | ) | | (192,850 | ) | | (461,020 | ) | | (439,519 | ) | Prior accident years | (72,205 | ) | | (66,257 | ) | | (344,969 | ) | | (324,949 | ) | Total loss and LAE payments | (269,642 | ) | | (259,107 | ) | | (805,989 | ) | | (764,469 | ) | Balance at End of Period | | | | | | | | Unpaid losses and LAE, net of reinsurance recoverables | 658,946 |
| | 663,829 |
| | 658,946 |
| | 663,829 |
| Add back reinsurance recoverables | 17,580 |
| | 15,190 |
| | 17,580 |
| | 15,190 |
| Total unpaid losses and LAE | 676,526 |
| | 679,018 |
| | 676,526 |
| | 679,018 |
| Unpaid losses on known claims | 240,935 |
| | 246,015 |
| | 240,935 |
| | 246,015 |
| IBNR losses | 299,143 |
| | 282,658 |
| | 299,143 |
| | 282,658 |
| LAE | 136,449 |
| | 150,345 |
| | 136,449 |
| | 150,345 |
| Total unpaid losses and LAE | $ | 676,526 |
| | $ | 679,018 |
| | $ | 676,526 |
| | $ | 679,018 |
|
|