Property Casualty Loss and Loss Expenses (Tables)

9 Months Ended

Sep. 30, 2023

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,
	2023		2022		2023		2022
Gross loss and loss expense reserves, beginning of period	$	8,807	$	7,603	$	8,336	$	7,229
Less reinsurance recoverable	424		287		405		327
Net loss and loss expense reserves, beginning of period	8,383		7,316		7,931		6,902
Net incurred loss and loss expenses related to:
Current accident year	1,314		1,391		4,053		3,687
Prior accident years	(53)		(43)		(213)		(143)
Total incurred	1,261		1,348		3,840		3,544
Net paid loss and loss expenses related to:
Current accident year	597		484		1,286		1,021
Prior accident years	461		464		1,899		1,709
Total paid	1,058		948		3,185		2,730
Net loss and loss expense reserves, end of period	8,586		7,716		8,586		7,716
Plus reinsurance recoverable	419		329		419		329
Gross loss and loss expense reserves, end of period	$	9,005	$	8,045	$	9,005	$	8,045