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Allowance for Expected Credit Losses
6 Months Ended
Jun. 30, 2020
Credit Loss [Abstract]  
Allowance for Expected Credit Losses ALLOWANCE FOR EXPECTED CREDIT LOSSES
Premiums Receivable

The following tables present the balances of premiums receivable, net of the allowance for expected credit losses, at June 30, 2020 and January 1, 2020, and the changes in the allowance for expected credit losses for the three months and six months ended June 30, 2020.

At and For the Three Months Ended June 30, 2020At and For the Six Months Ended June 30, 2020
(in millions)Premiums Receivable, Net of Allowance for Expected Credit LossesAllowance for Expected Credit LossesPremiums Receivable, Net of Allowance for Expected Credit LossesAllowance for Expected Credit Losses
 
Balance, beginning of period$8,202  $78  $7,909  $49  
Current period change for expected credit losses24  67  
Write-offs of uncollectible premiums receivable 22  
Balance, end of period$8,459  $94  $8,459  $94  

Reinsurance Recoverables

The following tables present the balances of reinsurance recoverables, net of the allowance for estimated uncollectible reinsurance, at June 30, 2020 and January 1, 2020, and the changes in the allowance for estimated uncollectible reinsurance for the three months and six months ended June 30, 2020.

At and For the Three Months Ended June 30, 2020At and For the Six Months Ended June 30, 2020
(in millions)Reinsurance Recoverables, Net of Allowance for Estimated Uncollectible ReinsuranceAllowance for Estimated Uncollectible ReinsuranceReinsurance Recoverables, Net of Allowance for Estimated Uncollectible ReinsuranceAllowance for Estimated Uncollectible Reinsurance
 
Balance, beginning of period$8,152  $149  $8,235  $92  
Cumulative effect of adoption of updated accounting guidance for credit losses at January 1, 2020
—  53  
Current period change for estimated uncollectible reinsurance 11  
Write-offs of uncollectible reinsurance recoverables—  —  
Balance, end of period$8,093  $156  $8,093  156  

Of the total reinsurance recoverables at June 30, 2020, after deducting mandatory pools and associations and before allowances for estimated uncollectible reinsurance, $5.54 billion, or 87%, were rated by A.M. Best Company.  The Company utilizes updated A.M. Best credit ratings on a quarterly basis when determining the allowance. Of the total rated by A.M. Best Company, 93% were rated A- or better. The remaining 13% of reinsurance recoverables were comprised of the following: 6% related to captive insurance companies, 2% related to the Company’s participation in voluntary pools, and 5% were balances from other companies not rated by A.M. Best Company.  Certain of the Company's reinsurance recoverables are collateralized by letters of credit, funds held or trust agreements.
Contractholder Receivables

The following tables present the balances of contractholder receivables, net of the allowance for expected credit losses, at June 30, 2020 and January 1, 2020, and the changes in the allowance for expected credit losses for the three months and six months ended June 30, 2020.
At and For the Three Months Ended June 30, 2020At and For the Six Months Ended June 30, 2020
(in millions)Contractholder Receivables, Net of Allowance for Expected Credit LossesAllowance for Expected Credit LossesContractholder Receivables, Net of Allowance for Expected Credit LossesAllowance for Expected Credit Losses
 
Balance, beginning of period$4,634  $20  $4,599  $20  
Current period change for expected credit losses  
Write-offs of uncollectible contractholder receivables—  —  
Balance, end of period$4,314  $22  $4,314  $22