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Reinsurance
9 Months Ended
Sep. 30, 2021
Reinsurance Disclosures [Abstract]  
Reinsurance Reinsurance
Primary components of our property casualty reinsurance assumed operations include involuntary and voluntary assumed risks as well as contracts from Cincinnati Re®, our reinsurance assumed operations. 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 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)Three months ended September 30,Nine months ended September 30,
2021202020212020
Direct written premiums$1,527 $1,386 $4,721 $4,383 
Assumed written premiums66 55 432 267 
Ceded written premiums(55)(48)(208)(180)
Net written premiums$1,538 $1,393 $4,945 $4,470 
Direct earned premiums$1,553 $1,439 $4,447 $4,198 
Assumed earned premiums117 78 327 207 
Ceded earned premiums(74)(67)(189)(163)
Earned premiums$1,596 $1,450 $4,585 $4,242 
Direct incurred loss and loss expenses$876 $1,039 $2,525 $2,915 
Assumed incurred loss and loss expenses165 54 297 133 
Ceded incurred loss and loss expenses(53)(22)(81)(40)
Incurred loss and loss expenses$988 $1,071 $2,741 $3,008 

Our life insurance company purchases reinsurance for protection of a portion of the 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)Three months ended September 30,Nine months ended September 30,
2021202020212020
Direct earned premiums$93 $90 $278 $273 
Ceded earned premiums(20)(18)(57)(55)
Earned premiums$73 $72 $221 $218 
Direct contract holders' benefits incurred103 85 310 270 
Ceded contract holders' benefits incurred(19)(13)(61)(46)
Contract holders' benefits incurred$84 $72 $249 $224 
 
The ceded benefits incurred can vary depending on the type of life insurance policy held and the year the policy was issued.

At September 30, 2021, and December 31, 2020, the allowance for uncollectible property casualty premiums was
$15 million and $19 million, respectively. At September 30, 2021, and December 31, 2020, the allowances for credit losses on other premiums receivable and recoverable assets were immaterial.