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Reinsurance
 12 Months Ended
Dec. 31, 2019
Reinsurance Disclosures [Abstract]  
Reinsurance Reinsurance
Primary components of our property casualty reinsurance assumed operations include involuntary and voluntary assumed as well as contracts from our reinsurance assumed operations, known as Cincinnati Re. Primary components of our ceded reinsurance include a property per risk treaty, property excess treaty, casualty per occurrence treaty, casualty excess treaty, property catastrophe treaty and catastrophe bonds and retrocessions on our reinsurance assumed operations. Management’s decisions about the appropriate level of risk retention are affected by various factors, including changes in our underwriting practices, capacity to retain risks and reinsurance market conditions.
 
The table below summarizes our consolidated property casualty insurance net written premiums, earned premiums and incurred loss and loss expenses:
(Dollars in millions)
 
Years ended December 31,
 
 
2019
 
2018
 
2017
Direct written premiums
 
$
5,477

 
$
5,018

 
$
4,854

Assumed written premiums
 
244

 
173

 
125

Ceded written premiums
 
(205
)
 
(161
)
 
(139
)
Net written premiums
 
$
5,516

 
$
5,030

 
$
4,840

 
 
 
 
 
 
 
Direct earned premiums
 
$
5,340

 
$
4,931

 
$
4,752

Assumed earned premiums
 
199

 
149

 
132

Ceded earned premiums
 
(205
)
 
(160
)
 
(162
)
Earned premiums
 
$
5,334

 
$
4,920

 
$
4,722

 
 
 
 
 
 
 
Direct incurred loss and loss expenses
 
$
3,402

 
$
3,188

 
$
2,961

Assumed incurred loss and loss expenses
 
117

 
125

 
113

Ceded incurred loss and loss expenses
 
(167
)
 
(90
)
 
64

Incurred loss and loss expenses
 
$
3,352

 
$
3,223

 
$
3,138

 
 
 
 
 
 
 


Our life insurance company purchases reinsurance for protection of a portion of risks that are written. Primary components of our life reinsurance program include individual mortality coverage, aggregate catastrophe and accidental death coverage in excess of certain deductibles.
 
The table below summarizes our consolidated life insurance earned premiums and contract holders' benefits incurred:
(Dollars in millions)
 
Years ended December 31,
 
 
2019
 
2018
 
2017
Direct earned premiums
 
$
341

 
$
320

 
$
300

Ceded earned premiums
 
(71
)
 
(70
)
 
(68
)
Earned premiums
 
$
270

 
$
250

 
$
232

 
 
 
 
 
 
 
Direct contract holders' benefits incurred
 
$
359

 
$
328

 
$
319

Ceded contract holders' benefits incurred
 
(73
)
 
(61
)
 
(67
)
Contract holders' benefits incurred
 
$
286

 
$
267

 
$
252

 
 
 
 
 
 
 

 
The ceded benefits incurred can vary depending on the type of life insurance policy held and the year the policy was issued.