Property Casualty Loss and Loss Expenses (Tables)

6 Months Ended

Jun. 30, 2020

Premiums Written, Net [Abstract]

Consolidated Property Casualty Loss And Loss Expense Reserves

This table summarizes activity for our consolidated property casualty loss and loss expense reserves:

(Dollars in millions)	Three months ended June 30,				Six months ended June 30,
	2020		2019		2020		2019
Gross loss and loss expense reserves, beginning of period	$	6,153	$	5,886	$	6,088	$	5,646
Less reinsurance recoverable	294		266		342		238
Net loss and loss expense reserves, beginning of period	5,859		5,620		5,746		5,408
Net loss and loss expense reserves related to acquisition of Cincinnati Global at February 28, 2019	—		—		—		246
Net incurred loss and loss expenses related to:
Current accident year	1,054		947		2,017		1,804
Prior accident years	(47)		(84)		(80)		(151)
Total incurred	1,007		863		1,937		1,653
Net paid loss and loss expenses related to:
Current accident year	369		361		555		538
Prior accident years	382		437		1,013		1,084
Total paid	751		798		1,568		1,622
Net loss and loss expense reserves, end of period	6,115		5,685		6,115		5,685
Plus reinsurance recoverable	294		269		294		269
Gross loss and loss expense reserves, end of period	$	6,409	$	5,954	$	6,409	$	5,954