The following table details the Company’s Casualty and Specialty segment incurred claims and claim expenses and cumulative paid claims and claim expenses as of December 31, 2021, net of reinsurance, as well as IBNR plus ACR included within the net incurred claims amounts. Incurred Claims and Claim Expenses, Net of Reinsurance For the year ended December 31, At December 31, 2021 Accident Year 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 IBNR and ACR (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) 2012 $ 578,130 $ 592,453 $ 563,062 $ 551,958 $ 540,732 $ 554,391 $ 568,888 $ 577,474 $ 569,186 $ 570,741 $ 27,340 2013 — 594,425 592,861 564,622 540,484 527,719 512,923 490,856 482,099 485,498 15,416 2014 — — 700,597 695,827 700,137 681,191 663,280 675,424 646,998 640,914 57,598 2015 — — — 767,250 787,882 827,103 807,386 793,509 811,403 816,906 73,317 2016 — — — — 962,878 995,833 994,781 986,009 950,960 962,173 42,471 2017 — — — — — 1,309,433 1,286,751 1,313,703 1,274,909 1,285,920 125,444 2018 — — — — — — 1,260,481 1,322,850 1,318,322 1,331,532 266,240 2019 — — — — — — — 1,262,941 1,256,812 1,255,990 580,245 2020 — — — — — — — — 1,510,390 1,475,979 977,263 2021 — — — — — — — — — 1,709,700 1,538,509 Total $ 10,535,353 $ 3,703,843 Cumulative Paid Claims and Claim Expenses, Net of Reinsurance For the year ended December 31, Accident Year 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) 2012 $ 101,857 $ 211,326 $ 268,714 $ 316,584 $ 356,853 $ 416,713 $ 445,394 $ 470,853 $ 477,799 $ 490,439 2013 — 51,810 185,565 242,408 289,333 340,727 371,338 395,854 407,654 422,363 2014 — — 124,303 250,620 333,894 398,361 452,889 496,550 524,042 541,900 2015 — — — 135,329 269,512 399,598 496,555 582,030 642,304 688,315 2016 — — — — 167,247 366,864 504,608 621,551 713,281 799,747 2017 — — — — — 212,641 409,835 550,494 788,601 933,382 2018 — — — — — — 156,313 360,990 561,424 813,995 2019 — — — — — — — 125,519 327,668 460,521 2020 — — — — — — — — 155,214 346,858 2021 — — — — — — — — — 72,280 Total $ 5,569,800 Outstanding liabilities from accident year 2011 and prior, net of reinsurance 252,259 Adjustment for unallocated loss adjustment expenses 44,985 Unamortized fair value adjustments recorded in connection with acquisitions (66,028) Liability for claims and claim expenses, net of reinsurance $ 5,196,769 Prior Year Development of the Reserve for Net Claims and Claim Expenses The Company’s estimates of claims and claim expense reserves are not precise in that, among other things, they are based on predictions of future developments and estimates of future trends and other variable factors. Some, but not all, of the Company’s reserves are further subject to the uncertainty inherent in actuarial methodologies and estimates. Because a reserve estimate is simply an insurer's estimate at a point in time of its ultimate liability, and because there are numerous factors that affect reserves and claims payments that cannot be determined with certainty in advance, the Company’s ultimate payments will vary, perhaps materially, from its estimates of reserves. If the Company determines in a subsequent period that adjustments to its previously established reserves are appropriate, such adjustments are recorded in the period in which they are identified. On a net basis, the Company’s cumulative favorable or unfavorable development is generally reduced by offsetting changes in its reinsurance recoverable, as well as changes to loss related premiums such as reinstatement premiums and redeemable noncontrolling interest, all of which generally move in the opposite direction to changes in the Company's ultimate claims and claim expenses. F-50