Reinsurance and Indemnification (Tables)

9 Months Ended

Sep. 30, 2022

Reinsurance Disclosures [Abstract]

Schedule of reductions to costs and expenses due to reinsurance ceded amounts

Effects of reinsurance ceded and indemnification programs on property and casualty premiums earned and accident and health insurance premiums and contract charges
($ in millions)	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
Property and casualty insurance premiums earned	$	(479)	$	(442)	$	(1,362)	$	(1,488)
Accident and health insurance premiums and contract charges	(12)		(17)		(29)		(65)

Effects of reinsurance ceded and indemnification programs on property and casualty insurance claims and claims expense and accident, health and other policy benefits
($ in millions)	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
Property and casualty insurance claims and claims expense (1) (2)	$	(925)	$	(1,458)	$	(1,300)	$	(3,209)
Accident, health and other policy benefits	(5)		(13)		(21)		(68)

(1)Ceded losses incurred included $100 million and $525 million related to the Michigan Catastrophic Claims Association for the nine months ended September 30, 2022 and 2021, respectively, and $305 million of expected reinsurance recoveries related to the Florida Excess Catastrophe Reinsurance Program for Hurricane Ian for the three and nine months ended September 30, 2022.

(2)Included approximately $1.40 billion and $185 million of ceded losses related to the Nationwide Catastrophe Reinsurance Program and the National Flood Insurance Program, respectively, for the nine months ended September 30, 2021.

Schedule of reinsurance recoverable for paid and unpaid claims

Reinsurance and indemnification recoverables

Reinsurance and indemnification recoverables, net
($ in millions)	September 30, 2022		December 31, 2021
Property and casualty
Paid and due from reinsurers and indemnitors	$	264	$	391
Unpaid losses estimated (including IBNR)	9,556		9,479
Total property and casualty	$	9,820	$	9,870
Accident and health insurance	141		154
Total	$	9,961	$	10,024

Rollforward of credit loss allowance for reinsurance recoverables

Rollforward of credit loss allowance for reinsurance recoverables
($ in millions)	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
Property and casualty (1) (2)
Beginning balance	$	(66)	$	(60)	$	(66)	$	(59)
Increase in the provision for credit losses	(5)		(6)		(5)		(7)
Write-offs	9		—		9		—
Ending balance	$	(62)	$	(66)	$	(62)	$	(66)
Accident and health insurance
Beginning balance	$	(8)	$	(1)	$	(8)	$	(1)
Increase in the provision for credit losses	—		—		—		—
Write-offs	—		—		—		—
Ending balance	$	(8)	$	(1)	$	(8)	$	(1)

(1)Primarily related to Run-off Property-Liability reinsurance ceded.

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