Property Casualty Loss and Loss Expenses (Tables)

6 Months Ended

Jun. 30, 2022

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 June 30,				Six months ended June 30,
	2022		2021		2022		2021
Gross loss and loss expense reserves, beginning of period	$	7,287	$	6,880	$	7,229	$	6,677
Less reinsurance recoverable	319		262		327		277
Net loss and loss expense reserves, beginning of period	6,968		6,618		6,902		6,400
Net incurred loss and loss expenses related to:
Current accident year	1,299		949		2,296		1,982
Prior accident years	(59)		(119)		(100)		(229)
Total incurred	1,240		830		2,196		1,753
Net paid loss and loss expenses related to:
Current accident year	368		334		537		477
Prior accident years	524		433		1,245		995
Total paid	892		767		1,782		1,472
Net loss and loss expense reserves, end of period	7,316		6,681		7,316		6,681
Plus reinsurance recoverable	287		274		287		274
Gross loss and loss expense reserves, end of period	$	7,603	$	6,955	$	7,603	$	6,955