Property Casualty Loss and Loss Expenses (Tables)

9 Months Ended

Sep. 30, 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 September 30,				Nine months ended September 30,
	2021		2020		2021		2020
Gross loss and loss expense reserves, beginning of period	$	6,955	$	6,409	$	6,677	$	6,088
Less reinsurance recoverable	274		294		277		342
Net loss and loss expense reserves, beginning of period	6,681		6,115		6,400		5,746
Net incurred loss and loss expenses related to:
Current accident year	1,090		1,082		3,072		3,099
Prior accident years	(102)		(11)		(331)		(91)
Total incurred	988		1,071		2,741		3,008
Net paid loss and loss expenses related to:
Current accident year	416		443		893		998
Prior accident years	349		336		1,344		1,349
Total paid	765		779		2,237		2,347
Net loss and loss expense reserves, end of period	6,904		6,407		6,904		6,407
Plus reinsurance recoverable	322		285		322		285
Gross loss and loss expense reserves, end of period	$	7,226	$	6,692	$	7,226	$	6,692