Reinsurance (Tables)

3 Months Ended

Mar. 31, 2024

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 March 31,
		2024		2023
Direct written premiums		$	2,125	$	1,859
Assumed written premiums		239		244
Ceded written premiums		(116)		(84)
Net written premiums		$	2,248	$	2,019

Direct earned premiums		$	1,934	$	1,760
Assumed earned premiums		152		159
Ceded earned premiums		(94)		(78)
Earned premiums		$	1,992	$	1,841

Direct incurred loss and loss expenses		$	1,193	$	1,299
Assumed incurred loss and loss expenses		76		76
Ceded incurred loss and loss expenses		1		(58)
Incurred loss and loss expenses		$	1,270	$	1,317

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


(Dollars in millions)	Three months ended March 31,
		2024		2023
Direct earned premiums		$	99	$	96

Ceded earned premiums		(20)		(19)
Earned premiums		$	79	$	77

Direct contract holders' benefits incurred		94		97

Ceded contract holders' benefits incurred		(15)		(16)
Contract holders' benefits incurred		$	79	$	81