Property Casualty Loss and Loss Expenses (Tables)

3 Months Ended

Mar. 31, 2021

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 March 31,
	2021		2020
Gross loss and loss expense reserves, beginning of period	$	6,677	$	6,088
Less reinsurance recoverable	277		342
Net loss and loss expense reserves, beginning of period	6,400		5,746
Net incurred loss and loss expenses related to:
Current accident year	1,033		963
Prior accident years	(110)		(33)
Total incurred	923		930
Net paid loss and loss expenses related to:
Current accident year	143		186
Prior accident years	562		631
Total paid	705		817
Net loss and loss expense reserves, end of period	6,618		5,859
Plus reinsurance recoverable	262		294
Gross loss and loss expense reserves, end of period	$	6,880	$	6,153