Reinsurance (Tables)

12 Months Ended

Dec. 31, 2023

The table below summarizes our consolidated property casualty insurance net written premiums, earned premiums and incurred loss and loss expenses:


(Dollars in millions)	Years ended December 31,
	2023		2022		2021
Direct written premiums	$	7,784	$	7,002	$	6,229
Assumed written premiums	597		619		515
Ceded written premiums	(335)		(314)		(265)
Net written premiums	$	8,046	$	7,307	$	6,479

Direct earned premiums	$	7,407	$	6,677	$	5,996
Assumed earned premiums	569		561		443
Ceded earned premiums	(331)		(314)		(255)
Earned premiums	$	7,645	$	6,924	$	6,184

Direct incurred loss and loss expenses	$	4,843	$	4,495	$	3,352
Assumed incurred loss and loss expenses	280		396		366
Ceded incurred loss and loss expenses	(165)		(175)		(122)
Incurred loss and loss expenses	$	4,958	$	4,716	$	3,596

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


(Dollars in millions)	Years ended December 31,
	2023		2022		2021
Direct earned premiums	$	394	$	379	$	370
Ceded earned premiums	(81)		(78)		(76)
Earned premiums	$	313	$	301	$	294

Direct contract holders' benefits incurred	$	391	$	394	$	380
Ceded contract holders' benefits incurred	(75)		(91)		(67)
Contract holders' benefits incurred	$	316	$	303	$	313