Reinsurance (Tables)

6 Months Ended

Jun. 30, 2023

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,
	2023		2022		2023		2022
Direct written premiums	$	2,071	$	1,871	$	3,930	$	3,574
Assumed written premiums	194		193		438		456
Ceded written premiums	(115)		(100)		(199)		(167)
Net written premiums	$	2,150	$	1,964	$	4,169	$	3,863

Direct earned premiums	$	1,806	$	1,631	$	3,566	$	3,192
Assumed earned premiums	134		134		293		255
Ceded earned premiums	(77)		(68)		(155)		(132)
Earned premiums	$	1,863	$	1,697	$	3,704	$	3,315

Direct incurred loss and loss expenses	$	1,265	$	1,174	$	2,564	$	2,069
Assumed incurred loss and loss expenses	58		67		134		140
Ceded incurred loss and loss expenses	(61)		(1)		(119)		(13)
Incurred loss and loss expenses	$	1,262	$	1,240	$	2,579	$	2,196

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,
	2023		2022		2023		2022
Direct earned premiums	$	100	$	96	$	196	$	189

Ceded earned premiums	(20)		(20)		(39)		(38)
Earned premiums	$	80	$	76	$	157	$	151

Direct contract holders' benefits incurred	100		109		197		212

Ceded contract holders' benefits incurred	(22)		(27)		(38)		(54)
Contract holders' benefits incurred	$	78	$	82	$	159	$	158