Property Casualty Loss and Loss Expenses (Tables)

9 Months Ended

Sep. 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 September 30,				Nine months ended September 30,
	2022		2021		2022		2021
Gross loss and loss expense reserves, beginning of period	$	7,603	$	6,955	$	7,229	$	6,677
Less reinsurance recoverable	287		274		327		277
Net loss and loss expense reserves, beginning of period	7,316		6,681		6,902		6,400
Net incurred loss and loss expenses related to:
Current accident year	1,391		1,090		3,687		3,072
Prior accident years	(43)		(102)		(143)		(331)
Total incurred	1,348		988		3,544		2,741
Net paid loss and loss expenses related to:
Current accident year	484		416		1,021		893
Prior accident years	464		349		1,709		1,344
Total paid	948		765		2,730		2,237
Net loss and loss expense reserves, end of period	7,716		6,904		7,716		6,904
Plus reinsurance recoverable	329		322		329		322
Gross loss and loss expense reserves, end of period	$	8,045	$	7,226	$	8,045	$	7,226