| LOSS AND LOSS ADJUSTMENT EXPENSE RESERVES | LOSS AND LOSS ADJUSTMENT EXPENSE RESERVES The Company’s loss and loss adjustment expense reserves are comprised of: ● case reserves resulting from claims notified to the Company by its clients; ● incurred but not reported (“IBNR”) losses; and ● estimated loss adjustment expenses. Case reserves are provided by the clients, and IBNR losses are estimated for each reporting period based on a review of all data available for each individual contract in the portfolio. The Company establishes loss reserves based on estimates of the ultimate cost of all losses including IBNR. These estimated ultimate reserves are based on internal actuarial estimates derived from reports received from ceding companies, industry data and historical experience. These estimates are reviewed by the Company at least quarterly and adjusted when necessary. Since reserves are estimates, the setting of appropriate reserves is an inherently uncertain process. The estimates are based upon actuarial and statistical projections, an assessment of currently available data, predictions of future developments and estimates of future trends and other factors. The final settlement of losses may vary, perhaps materially, from the reserves recorded. All adjustments to the estimates are recorded in the period in which they are determined. U.S. GAAP does not permit establishing loss reserves, which include case reserves and IBNR loss reserves, until the occurrence of an event which may give rise to a claim. As a result, only loss reserves applicable to losses incurred up to the reporting date are established, with no allowance for the establishment of loss reserves to account for expected future loss events. For natural peril exposed business, loss reserves are generally established based on loss payments and case reserves reported by clients when, and if, received. Estimates for IBNR losses are added to the case reserves. To establish IBNR loss estimates, the Company uses estimates communicated by ceding companies, industry data and information, knowledge of the business written and management’s judgment. For all non-natural peril business, initial reserves for each individual contract are based on the expected loss and loss expense ratio calculated at the time the business was originally priced. In the pricing analysis, the Company utilizes a significant amount of information both from the individual client and from industry data. This typically includes, but is not limited to, data related to premiums, losses, exposure, business mix, industry performance and associated trends covering as much history as deemed appropriate. The level of detail within the data obtained varies greatly depending on the underlying contract, line of business, client and/or coverage provided. For example, the Company may receive more detailed data on a workers’ compensation quota share contract with a single counterparty than on a global professional liability book where it takes a small following share of the risk ceded to the reinsurance marketplace. In all cases, the Company requests each client to provide data for each reporting period, which, depending on the contract, could be on a monthly or quarterly basis. The exact data reporting requirements are specified in the terms and conditions of each contract. Where practical, historic reserving data that is received from a client is compared to publicly available financial statements of the client to identify, confirm and monitor the accuracy and completeness of the data. To the extent that relevant client and/or industry data is not available, the Company places reliance on the judgment and experience of its underwriters and actuaries in determining appropriate reserves to hold. Generally, the Company obtains regular updates of premium and loss related information for the current period and historical periods, which are utilized to update the initial expected loss and loss expense ratio. There may be a time lag from when claims are reported by the underlying insured to the client and subsequently when the client reports the claims to the Company. This time lag may impact the Company’s loss reserve estimates from period to period. Client reports have pre-determined reporting dates of when they are due (for example, fifteen days after month end). As such, the time lag in the client’s reporting depends upon the terms of the specific contract. The timing of the reporting requirements is designed so that the Company receives premium and loss information as soon as practicable once the client has closed its books. Accordingly, there should be a short lag in such reporting. Additionally, most of the contracts that have the potential for large single event losses have provisions that such loss notifications need to be received immediately upon the occurrence of an event. Once the updated information is received, the Company uses a variety of standard actuarial methods for its analysis each quarter. Such methods may include the: ● Paid Loss Development Method . Ultimate losses are estimated by calculating past paid loss development factors and applying them to exposure periods with further expected paid loss development. The paid loss development method assumes that losses are paid in a consistent pattern. It provides an objective test of reported loss projections because paid losses contain no reserve estimates. ● Reported Loss Development Method. Ultimate losses are estimated by calculating past reported loss development factors and applying them to exposure periods with further expected reported loss development. Since reported losses include payments and case reserves, changes in both of these amounts are incorporated in this method. ● Expected Loss Ratio Method. Ultimate losses are estimated by multiplying earned premiums by an expected loss ratio. The expected loss ratio is selected using industry data, historical company data and actuarial professional judgment. This method is typically used for lines of business and contracts where there are no historical losses or where past loss experience is not credible. ● Bornhuetter-Ferguson Paid Loss Method. Ultimate losses are estimated by modifying expected loss ratios to the extent that paid losses experienced to date differ from what would have been expected to have been paid based upon the selected paid loss development pattern. This method avoids some of the distortions that could result from a large development factor being applied to a small base of paid losses to calculate ultimate losses. ● Bornhuetter-Ferguson Reported Loss Method. Ultimate losses are estimated by modifying expected loss ratios to the extent reported losses experienced to date differ from what would have been expected to have been reported based upon the selected reported loss development pattern. This method avoids some of the distortions that could result from a large development factor being applied to a small base of reported losses to calculate ultimate losses. ● Frequency / Severity Method. Ultimate losses are estimated under this method by multiplying the ultimate number of claims (i.e. the frequency multiplied by the exposure base on which the frequency has been determined), by the estimated ultimate average cost per claim (i.e. the severity). By analyzing claims experience by its frequency and severity components, the Company can examine trends and patterns in the rates of claims emergence (i.e. reporting) and settlement (i.e. closure) as well as in the average cost of claims. The approach is valuable because sometimes there is more inherent stability in the frequency and severity data when viewed separately rather than in the total losses. In addition, the Company may supplement its analysis with other reserving methodologies that are deemed to be relevant to specific contracts. For each contract, the Company utilizes reserving methodologies that are deemed appropriate to calculate a best estimate, or point estimate, of reserves. The decision of whether to use a single methodology or a combination of multiple methodologies depends upon the segment of the portfolio being analyzed and the judgment of the actuaries. The Company’s reserving methodology does not require a fixed weighting of the various methods used. Certain methods are considered more appropriate depending on the type and structure of the contract, the age and maturity of the contract, and the duration of the expected paid losses on the contract. For example, the data estimation for contracts that are relatively new and therefore, have little paid loss development, is more appropriately considered using the Bornhuetter-Ferguson Reported Loss Method than a paid loss development method. The Company’s gross aggregate reserves are the sum of the point estimate reserves of all portfolio exposures. Generally, IBNR loss reserves are calculated by estimating the ultimate incurred losses at any point in time and subtracting cumulative paid claims and case reserves, which incorporate specific exposures, loss payment and reporting patterns and other relevant factors. Each quarter, the reserving committee, which is lead by of the Chief Operating Officer meets to assess the adequacy of our loss reserves based on the reserve analysis and recommendations prepared by the Company’s reserving department. The reserving committee reviews, discusses and approves or revises the stated reserves. Additionally, an independent third-party actuarial firm performs a quarterly reserve review and annually opines on the reasonableness and adequacy of the aggregate loss reserves. The Company provides the third-party actuarial firm with its pricing models, reserving analysis and any other data they may request. Additionally, the actuarial firm may inquire as to the various assumptions and estimates used in the reserving analysis. The external actuarial firm independently creates its own reserving models based on industry loss information, augmented by specific client loss information as well as its own independent assumptions and estimates. Based on various reserving methodologies that the actuarial firm considers appropriate, it creates a loss reserve estimate for each segment in the portfolio and recommends an aggregate loss reserve, including IBNR. If there are material differences between the Company’s aggregate booked reserves and the actuarial firm’s recommended reserves, the differences are reviewed and the booked reserves are adjusted if necessary. To date there have been no material differences resulting from the external actuary’s reviews requiring adjustments to the Company’s booked reserves. There were no significant changes in the actuarial methodology or assumptions relating to the Company’s loss and loss adjustment expense reserves for the year ended December 31, 2017 . At December 31, 2017 and 2016 , loss and loss adjustment expense reserves were comprised of the following: 2017 2016 ($ in thousands) Case reserves $ 178,088 $ 98,815 IBNR 286,292 207,826 Total $ 464,380 $ 306,641 A summary of changes in outstanding loss and loss adjustment expense reserves is presented in the table below. Consolidated 2017 2016 2015 ($ in thousands) Gross balance at January 1 $ 306,641 $ 305,997 $ 264,243 Less: Losses recoverable (2,704 ) (3,368 ) (11,523 ) Net balance at January 1 303,937 302,629 252,720 Incurred losses related to: Current year 466,247 345,303 266,796 Prior years 36,157 35,512 50,301 Total incurred 502,404 380,815 317,097 Paid losses related to: Current year (220,298 ) (156,181 ) (132,017 ) Prior years (154,183 ) (216,489 ) (132,846 ) Total paid (374,481 ) (372,670 ) (264,863 ) Foreign currency revaluation 3,061 (6,837 ) (2,325 ) Net balance at December 31 434,921 303,937 302,629 Add: Losses recoverable 29,459 2,704 3,368 Gross balance at December 31 $ 464,380 $ 306,641 $ 305,997 The rollforward of outstanding loss and loss adjustment expense reserves for health claims is as follows: Health 2017 2016 2015 ($ in thousands) Gross balance at January 1 $ 18,993 $ 21,533 $ 14,137 Less: Losses recoverable — — — Net balance at January 1 18,993 21,533 14,137 Incurred losses related to: Current year 44,539 38,726 34,136 Prior years 3,739 (1,477 ) (2,680 ) Total incurred 48,278 37,249 31,456 Paid losses related to: Current year (23,814 ) (22,039 ) (14,090 ) Prior years (21,276 ) (17,750 ) (9,970 ) Total paid (45,090 ) (39,789 ) (24,060 ) Foreign currency revaluation — — — Net balance at December 31 22,181 18,993 21,533 Add: Losses recoverable — — — Gross balance at December 31 $ 22,181 $ 18,993 $ 21,533 Loss development Year ended December 31, 2017 For the year ended December 31, 2017 , the net losses incurred included $36.2 million related to net adverse loss development on reserves relating to accident years prior to 2017. During the year ended December 31, 2017 , the loss development on prior year contracts primarily related to the following: • $10.7 million of adverse loss development associated with various classes of professional liability exposure, driven by additional reporting on individual claims, as well as the Company’s assessment of industry wide loss ratio performance; • $4.3 million of adverse loss development associated with motor contracts based on re-projection of ultimate losses using client reporting patterns; • $4.1 million of adverse loss development relating to Florida homeowners’ insurance contracts, largely driven by “assignment of benefits” issues in the state whereby homeowners assign their rights for filing and settling claims to attorneys and public adjusters; • $3.7 million of adverse loss development associated with specialty health contracts arising from frequency of medical claims reported; and • $2.2 million of adverse loss development due to large claims reported on a surety contract. The remaining $11.2 million of adverse development for the year ended December 31, 2017 , was due to development across various other casualty and multi-line contracts. There were no other significant developments of prior period loss reserves during the year ended December 31, 2017 . For the year ended December 31, 2016, the net losses incurred included $35.5 million related to net adverse loss development on reserves relating to accident years prior to 2016. During the year ended December 31, 2016, the loss development on prior year contracts primarily related to the following: ● $19.0 million of losses resulting from the loss portfolio transfer and subsequent novation of legacy construction defect liabilities; ● $7.0 million of adverse loss development relating to our Florida homeowners’ insurance contracts as a result of deterioration of sinkhole claims and an increase in the practice of “assignment of benefits” whereby homeowners assign their rights for filing and settling claims to attorneys and public adjusters; ● $6.7 million of adverse loss development relating to our private passenger motor contracts. While the loss indications are close to our expectations, the volume and frequency of unmerited suits served to the cedent by attorneys and medical clinics has resulted in an increase in loss adjustment expenses to defend such claims; and ● $4.5 million of adverse loss development on an excess of loss contract relating to losses resulting from the U.S. sub-prime crisis. There were no other significant developments of prior period loss reserves during the year ended December 31, 2016. For the year ended December 31, 2015, the net losses incurred included $50.3 million related to net adverse loss development on reserves relating to accident years prior to 2015. During the year ended December 31, 2015, the loss development on prior year contracts primarily related to the following: ● $36.9 million of adverse loss development relating to a general liability contract originally written from 2008 to 2011. This contract contains underlying construction defect liability coverage predominantly on single family homes. During the third quarter of 2015, we completed an in-depth analysis, with the assistance of a third party expert, of the construction defect claims reported and the potential for claims not yet reported on this contract. Based on this assessment, we revised the actuarial methodology used for reserving the construction defect claims on this contract, which resulted in an increase in incurred but not reported losses; ● $14.7 million of adverse loss development relating to a general liability contract originally written in 2010. This contract contains underlying construction defect liability coverage. Based on updated data received from the insured, we conducted additional actuarial analysis and updated our actuarial input parameters based on consultation with external industry experts. As a result, the average estimated cost per claim was increased; ● $9.3 million of adverse loss development relating to our Florida homeowners’ insurance contracts as a result of deterioration of sinkhole losses and higher than anticipated water damage claims from rainstorms and increase in the practice of assignment of benefits; ● $2.4 million of net adverse loss development relating to our solicitors’ professional indemnity contracts as a result of multiple large claims reported during the period and an increase in incurred losses; ● $5.1 million of favorable loss development relating to an excess of loss property contract resulting in the elimination of loss reserves based on updated loss information received from the insured during the period indicating that no losses will breach into our layer of coverage; ● $4.5 million of favorable loss development relating to private passenger motor contracts during the period; ● $2.3 million of favorable loss development relating to the employer medical stop-loss business as a result of better than expected claims frequency reported by the cedent; and ● $1.3 million of loss reserves released upon commutation of a private passenger motor contract during the period. There were no other significant developments of prior period loss reserves during the year ended December 31, 2015. Disclosures about Short Duration Contracts The Company manages its business on the basis of one operating segment, property & casualty reinsurance. Within the property and casualty reinsurance segment, management analyzes the underwriting operations using two categories: frequency business; and severity business. Frequency business is generally characterized as contracts containing a potentially large number of small losses emanating from multiple events. Severity business is generally characterized as contracts with the potential for significant losses emanating from one event or multiple events. For each of the frequency and severity categories, the following tables presents the incurred and paid claims development as of December 31, 2017 , net of retrocession, as well as the total of incurred but not reported liabilities plus expected development on reported claims included within the net incurred claims amount. As required by U.S. GAAP, health claims have been disaggregated and presented separately. The information in the tables below about incurred and paid claims development for the years ended December 31, 2008 to 2016 , is presented as unaudited supplementary information. Frequency - Health Incurred claims and allocated claim adjustment expenses, net of reinsurance December 31, 2017 For the years ended December 31, Total IBNR plus expected development on reported claims Accident year 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 (Unaudited - Supplementary Information) ($ in thousands) 2008 $ 10,593 $ 11,677 $ 11,432 $ 11,361 $ 12,150 $ 11,249 $ 11,249 $ 11,247 $ 11,279 $ 11,247 $ — 2009 — 24,905 23,884 23,393 23,402 23,402 23,402 23,401 23,401 23,401 — 2010 — — 36,066 35,968 49,492 36,120 36,120 36,107 36,107 36,107 — 2011 — — — 36,088 36,145 35,755 35,737 35,533 35,540 35,533 — 2012 — — — — 10,494 9,781 9,723 9,621 9,621 9,621 — 2013 — — — — — 43,895 46,969 47,301 47,045 47,032 — 2014 — — — — — — 32,845 30,154 29,455 29,042 — 2015 — — — — — — — 34,136 33,576 34,201 — 2016 — — — — — — — — 37,726 41,305 1,456 2017 — — — — — — — — — 44,539 20,725 Total $ 312,028 Frequency - Health Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 (Unaudited - Supplementary Information) ($ in thousands) 2008 $ 4,199 $ 10,890 $ 11,294 $ 11,277 $ 11,415 $ 11,249 $ 11,249 $ 11,247 $ 11,247 $ 11,247 2009 — 8,617 23,088 23,392 23,402 23,402 23,402 23,401 23,401 23,401 2010 — — 17,771 35,609 41,477 36,120 36,120 36,107 36,107 36,107 2011 — — — 27,104 35,615 35,755 35,737 35,533 35,533 35,533 2012 — — — — 9,342 9,670 9,723 9,621 9,621 9,621 2013 — — — — — 34,515 46,969 47,112 47,045 47,032 2014 — — — — — — 19,040 28,486 29,159 29,042 2015 — — — — — — — 14,561 32,043 34,201 2016 — — — — — — — — 20,601 39,850 2017 — — — — — — — — — 23,814 Total 289,848 All outstanding liabilities before 2008, net of reinsurance — Liabilities for claims and claims adjustment expenses, net of reinsurance (Health) $ 22,181 Frequency - Non-Health Incurred claims and allocated claim adjustment expenses, net of reinsurance December 31, 2017 For the years ended December 31, Total IBNR plus expected development on reported claims Accident year 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 (Unaudited - Supplementary Information) ($ in thousands) 2008 $ 38,126 $ 34,675 $ 35,893 $ 38,669 $ 40,523 $ 40,518 $ 41,620 $ 42,078 $ 41,707 $ 41,785 $ 33 2009 — 79,796 91,523 101,259 109,936 106,040 107,323 112,312 111,741 111,812 31 2010 — — 130,449 144,489 162,112 161,414 165,504 173,764 176,608 176,594 392 2011 — — — 173,216 189,690 200,216 212,697 235,787 254,723 254,984 1,563 2012 — — — — 268,511 271,334 270,409 287,025 286,548 287,482 2,192 2013 — — — — — 309,833 305,919 306,524 308,783 309,694 3,912 2014 — — — — — — 178,117 178,247 181,753 183,986 11,151 2015 — — — — — — — 225,244 230,745 236,109 37,080 2016 — — — — — — — — 291,180 304,962 82,755 2017 — — — — — — — — — 367,342 185,910 Total $ 2,274,750 Frequency - Non-Health Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 (Unaudited - Supplementary Information) ($ in thousands) 2008 $ 10,345 $ 25,145 $ 31,686 $ 36,587 $ 39,151 $ 40,269 $ 41,190 $ 41,310 $ 41,707 $ 41,752 2009 — 26,518 62,220 81,055 94,851 99,832 103,833 105,493 111,741 111,781 2010 — — 50,177 100,334 127,823 143,989 156,396 161,725 176,146 176,201 2011 — — — 78,846 134,140 168,209 185,591 203,255 252,684 253,421 2012 — — — — 121,538 236,556 253,949 262,086 283,653 285,290 2013 — — — — — 145,593 264,730 291,231 301,772 305,782 2014 — — — — — — 82,244 149,445 161,064 172,834 2015 — — — — — — — 109,376 179,725 199,029 2016 — — — — — — — — 132,142 222,207 2017 — — — — — — — — — 181,431 Total 1,949,728 All outstanding liabilities before 2008, net of reinsurance — Liabilities for claims and claims adjustment expenses, net of reinsurance (Frequency) $ 325,021 Severity Incurred claims and allocated claim adjustment expenses, net of reinsurance December 31, 2017 For the years ended December 31, Total IBNR plus expected development on reported claims Accident year 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 (Unaudited - Supplementary Information) ($ in thousands) 2008 $ 16,466 $ 19,329 $ 18,026 $ 18,028 $ 17,469 $ 19,583 $ 19,582 $ 17,843 $ 20,212 $ 20,212 $ 4,810 2009 — 19,093 15,372 14,970 14,329 14,183 14,010 10,820 10,796 10,844 6,381 2010 — — 4,522 5,147 14,079 14,042 14,291 14,194 14,507 14,358 2,570 2011 — — — 5,071 5,069 5,068 5,079 5,074 5,081 5,082 28 2012 — — — — 15,000 — — — — — — 2013 — — — — — 2,885 1,807 1,507 1,501 1,502 — 2014 — — — — — — 4,749 4,750 4,624 4,745 1,772 2015 — — — — — — — 8,204 8,354 10,161 5,753 2016 — — — — — — — — 17,265 20,108 16,005 2017 — — — — — — — — — 58,659 43,606 Total $ 145,671 Severity Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 (Unaudited - Supplementary Information) ($ in thousands) 2008 $ — $ — $ 3,148 $ 6,391 $ 10,320 $ 10,356 $ 10,356 $ 10,504 $ 15,243 $ 15,402 2009 — 276 2,582 3,364 3,753 3,902 3,952 4,172 4,194 4,463 2010 — — 281 862 1,112 1,237 5,899 6,069 11,588 11,788 2011 — — — 24 5,033 5,038 5,044 5,047 5,048 5,054 2012 — — — — — — — — — — 2013 — — — — — 94 729 1,224 1,491 1,502 2014 — — — — — — 1,558 2,457 2,933 2,974 2015 — — — — — — — 473 1,306 4,408 2016 — — — — — — — — 876 4,103 2017 — — — — — — — — — 15,053 Total 64,747 All outstanding liabilities before 2008, net of reinsurance 2,486 Liabilities for claims and claims adjustment expenses, net of reinsurance (Severity) $ 83,412 For any incurred and paid claims denominated in a currency other than U.S. dollars, the above tables are presented using the foreign exchange rate in effect as of the current year end date. As a result, all prior year information has been restated to reflect the exchange rates as of December 31, 2017 . This removes any changes in foreign currency exchange rates from distorting the claims development between the years presented. For assumed contracts the Company does not generally receive claims information by accident year from the ceding insurers, but instead receives claims information by the treaty year of the contract. Claims reported by the ceding insurer to the Company may have the covered losses occurring in an accident year other than the treaty year. For the purpose of the loss development tables, the incurred and paid claims have been allocated to the accident years based on the proportion of premiums earned for each contract during such accident year. For example, a one-year treaty incepting on October 1, 2010 (with underlying policies each having a one-year duration), would have a 24-month period over which the premiums would be earned. Therefore, claims would be allocated to accident years 2010, 2011 and 2012 based on the proportion of the premiums earned during each accident year. For illustration of this contract, any claims reported during 2010 would be allocated to the 2010 accident year. For losses reported during 2011, the claims would be allocated between 2010 and 2011 based on the percentage of premiums earned during 2010 and 2011. Similarly, for losses reported during 2012 and thereafter, the losses would be allocated to the 2010, 2011 and 2012 accident years based on the proportion of premiums earned during each of those years. However, natural catastrophe losses are treated separately and losses arising from such events are allocated to the specific accident year in which they occurred. The reconciliation of the net incurred and paid claims development tables to the liability for claims and claim adjustment expenses in the consolidated balance sheet is as follows: December 31, 2017 December 31, 2016 ($ in thousands) Net outstanding liabilities Health $ 22,181 $ 18,993 Frequency - non-health 325,021 239,151 Severity 83,412 42,178 Liabilities for claims and claims adjustment expenses, net of reinsurance 430,614 300,322 Add: Reinsurance recoverable on unpaid claims 29,459 2,704 Add: Unallocated claims adjustment expenses 4,307 3,615 Total gross liabilities for unpaid claims and claim adjustment expense $ 464,380 $ 306,641 The average historical annual percentage payout of net incurred claims (excluding health) as of the year ended December 31, 2017 is as follows: Years 1 2 3 4 5 6 7 8 9 10 (Unaudited - Supplementary Information) Frequency - Non-health 37.3 % 30.5 % 9.5 % 5.7 % 5.0 % 6.8 % 2.9 % 1.9 % 0.3 % 0.1 % Severity 3.1 % 11.8 % 9.5 % 8.5 % 18.0 % 4.0 % 10.1 % 0.8 % 16.1 % 18.1 % The historical annual percentage payout pattern for health claims is excluded from the table above because health claims have short settlement periods and including it would skew the results presented. In addition, the payout percentages for the severity business are expected to fluctuate, sometimes significantly, due to the volatile nature of the loss experience emerging on such contracts. As a reinsurance entity, the Company does not consistently receive detailed claims frequency information or claims counts, from ceding insurers and third party claim handlers. Due to the nature of the reinsurance contracts, the underlying insured reports claims to the insurer who cedes losses to the Company. The Company is contractually obligated to reimburse the ceding insurer for its share of the losses. While the Company has the right to conduct audits of the ceding insurer’s claims files, the insurer is generally not obligated to provide detailed listing of claims counts or other claims frequency information to the Company. Therefore it is impracticable for the Company to present the cumulative number of reported claims by accident year. |
