Reinsurance (Tables)

6 Months Ended

Jun. 30, 2022

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 June 30,				Six months ended June 30,
	2022		2021		2022		2021
Direct written premiums	$	1,871	$	1,649	$	3,574	$	3,194
Assumed written premiums	193		161		456		366
Ceded written premiums	(100)		(96)		(167)		(153)
Net written premiums	$	1,964	$	1,714	$	3,863	$	3,407

Direct earned premiums	$	1,631	$	1,465	$	3,192	$	2,894
Assumed earned premiums	134		109		255		210
Ceded earned premiums	(68)		(60)		(132)		(115)
Earned premiums	$	1,697	$	1,514	$	3,315	$	2,989

Direct incurred loss and loss expenses	$	1,174	$	781	$	2,069	$	1,649
Assumed incurred loss and loss expenses	67		54		140		132
Ceded incurred loss and loss expenses	(1)		(5)		(13)		(28)
Incurred loss and loss expenses	$	1,240	$	830	$	2,196	$	1,753

The table below summarizes our consolidated life insurance earned premiums and contract holders' benefits incurred:


(Dollars in millions)	Three months ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
Direct earned premiums	$	96	$	98	$	186	$	185

Ceded earned premiums	(20)		(19)		(38)		(37)
Earned premiums	$	76	$	79	$	148	$	148

Direct contract holders' benefits incurred	91		100		205		207

Ceded contract holders' benefits incurred	(22)		(15)		(53)		(42)
Contract holders' benefits incurred	$	69	$	85	$	152	$	165