Reinsurance (Tables)

6 Months Ended

Jun. 30, 2020

Reinsurance Disclosures [Abstract]

Property Casualty Insurance Assumed And Ceded Business

The table below summarizes our consolidated property casualty insurance net written premiums, earned premiums and incurred loss and loss expenses:

(Dollars in millions)	Three months ended June 30,				Six months ended June 30,
	2020		2019		2020		2019
Direct written premiums	$	1,539	$	1,472	$	2,997	$	2,807
Assumed written premiums	101		75		212		162
Ceded written premiums	(81)		(71)		(132)		(112)
Net written premiums	$	1,559	$	1,476	$	3,077	$	2,857
Direct earned premiums	$	1,388	$	1,319	$	2,759	$	2,585
Assumed earned premiums	63		50		129		93
Ceded earned premiums	(48)		(52)		(96)		(94)
Earned premiums	$	1,403	$	1,317	$	2,792	$	2,584
Direct incurred loss and loss expenses	$	976	$	866	$	1,876	$	1,653
Assumed incurred loss and loss expenses	45		25		79		50
Ceded incurred loss and loss expenses	(14)		(28)		(18)		(50)
Incurred loss and loss expenses	$	1,007	$	863	$	1,937	$	1,653

Life Insurance Assumed and Ceded Business

The table below summarizes our consolidated life insurance earned premiums and contract holders' benefits incurred:

(Dollars in millions)	Three months ended June 30,				Six months ended June 30,
	2020		2019		2020		2019
Direct earned premiums	$	98	$	86	$	183	$	169
Ceded earned premiums	(19)		(19)		(37)		(36)
Earned premiums	$	79	$	67	$	146	$	133
Direct contract holders' benefits incurred	100		87		185		172
Ceded contract holders' benefits incurred	(21)		(14)		(33)		(29)
Contract holders' benefits incurred	$	79	$	73	$	152	$	143