Property Casualty Loss and Loss Expenses (Tables)

9 Months Ended

Sep. 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 September 30,				Nine months ended September 30,
	2020		2019		2020		2019
Gross loss and loss expense reserves, beginning of period	$	6,409	$	5,954	$	6,088	$	5,646
Less reinsurance recoverable	294		269		342		238
Net loss and loss expense reserves, beginning of period	6,115		5,685		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	1,082		916		3,099		2,720
Prior accident years	(11)		(52)		(91)		(203)
Total incurred	1,071		864		3,008		2,517
Net paid loss and loss expenses related to:
Current accident year	443		457		998		995
Prior accident years	336		373		1,349		1,457
Total paid	779		830		2,347		2,452
Net loss and loss expense reserves, end of period	6,407		5,719		6,407		5,719
Plus reinsurance recoverable	285		278		285		278
Gross loss and loss expense reserves, end of period	$	6,692	$	5,997	$	6,692	$	5,997