| 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 | | March 31, | | 2018 | | 2017 | Balance at Beginning of Period | | | | Unpaid losses on known claims | $ | 264,470 |
| | $ | 238,412 |
| IBNR losses | 312,516 |
| | 306,641 |
| LAE | 138,112 |
| | 140,402 |
| Total unpaid losses and LAE | 715,098 |
| | 685,455 |
| Reinsurance recoverables | (31,609 | ) | | (17,130 | ) | Unpaid losses and LAE, net of reinsurance recoverables | 683,489 |
| | 668,325 |
| Current Activity | | | | Loss and LAE incurred: | | | | Current accident year | 273,408 |
| | 277,044 |
| Prior accident years | (8,856 | ) | | (6,368 | ) | Total loss and LAE incurred | 264,552 |
| | 270,676 |
| Loss and LAE payments: | | | | Current accident year | (89,106 | ) | | (96,869 | ) | Prior accident years | (177,479 | ) | | (179,319 | ) | Total loss and LAE payments | (266,585 | ) | | (276,187 | ) | Balance at End of Period | | | | Unpaid losses and LAE, net of reinsurance recoverables | 681,457 |
| | 662,814 |
| Add back reinsurance recoverables | 19,549 |
| | 16,133 |
| Total unpaid losses and LAE | 701,006 |
| | 678,947 |
| Unpaid losses on known claims | 247,940 |
| | 233,303 |
| IBNR losses | 318,281 |
| | 307,932 |
| LAE | 134,786 |
| | 137,712 |
| Total unpaid losses and LAE | $ | 701,006 |
| | $ | 678,947 |
|
|