Reinsurance and Indemnification (Tables)

12 Months Ended

Dec. 31, 2020

Reinsurance Disclosures [Abstract]

Effects of reinsurance on property-liability insurance premiums written and earned and life and annuity premiums and contract charges

Effects of reinsurance and indemnification on property and casualty premiums written and earned and life premiums and contract charges
	For the years ended December 31,
($ in millions)	2020		2019		2018
Property and casualty insurance premiums written
Direct	$	38,695	$	37,976	$	35,895
Assumed	105		95		99
Ceded	(1,142)		(1,117)		(1,008)
Property and casualty insurance premiums written, net of recoverables	$	37,658	$	36,954	$	34,986
Property and casualty insurance premiums earned
Direct	$	38,115	$	37,104	$	34,977
Assumed	99		94		87
Ceded	(1,141)		(1,122)		(1,016)
Property and casualty insurance premiums earned, net of recoverables	$	37,073	$	36,076	$	34,048
Life premiums and contract charges
Direct	$	2,001	$	2,074	$	2,001
Assumed	685		712		754
Ceded	(242)		(285)		(290)
Life premiums and contract charges, net of recoverables	$	2,444	$	2,501	$	2,465

Summary of reinsurance recoverables on paid and unpaid benefits

Reinsurance and indemnification recoverables, net
	As of December 31,
($ in millions)	2020		2019
Property and casualty
Paid and due from reinsurers and indemnitors	$	101	$	112
Unpaid losses estimated (including IBNR)	7,033		6,912
Total property and casualty	$	7,134	$	7,024
Allstate Annuities (1)	$	1,293	$	1,305
Allstate Life (1)	712		794
Allstate Benefits (1)	81		88
Total	$	9,220	$	9,211

(1)As of December 31, 2020 and 2019, approximately 94% and 93%, respectively, of the reinsurance recoverables are due from companies rated A- or better by S&P.

Rollforward of credit loss allowance for reinsurance recoverables

Rollforward of credit loss allowance for reinsurance recoverables
	For the year ended
($ in millions)	December 31, 2020
Property and casualty (1) (2)
Beginning balance	$	(60)
Decrease in the provision for credit losses	1
Write-offs	—
Ending balance	$	(59)
Allstate Annuities, Allstate Life and Allstate Benefits
Beginning balance	$	(3)
Cumulative effect of change in accounting principle	(11)
Increase in the provision for credit losses	(1)
Write-offs	—
Ending Balance	$	(15)

(1)Primarily related to discontinued lines and coverages reinsurance ceded.

(2)Indemnification recoverables are considered collectible based on the industry pool and facility enabling legislation.

Summary of retention limits by period of policy issuance

Retention limits by period of policy issuance
Period	Retention limits
April 2015 through current	Single life: $2 million per life Joint life: no longer offered
April 2011 through March 2015	Single life: $5 million per life, $3 million age 70 and over, and $10 million for contracts that meet specific criteria Joint life: $8 million per life, and $10 million for contracts that meet specific criteria
July 2007 through March 2011	$5 million per life, $3 million age 70 and over, and $10 million for contracts that meet specific criteria
September 1998 through June 2007	$2 million per life, in 2006 the limit was increased to $5 million for instances when specific criteria were met
August 1998 and prior	Up to $1 million per life

Schedule of reinsurance premium ceded

Amounts ceded to Prudential
	December 31,
($ in millions)	2020		2019		2018
Premiums and contract charges	$	64	$	65	$	72
Contract benefits	46		(4)		87
Interest credited to contractholder funds	20		19		20
Operating costs and expenses	12		12		14