Reinsurance and Indemnification

9 Months Ended

Sep. 30, 2023


Note 10			Reinsurance and Indemnification


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,
	2023		2022		2023		2022
Property and casualty insurance premiums earned	$	(514)	$	(479)	$	(1,455)	$	(1,362)
Accident and health insurance premiums and contract charges	(16)		(12)		(35)		(28)


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,
	2023		2022		2023		2022
Property and casualty insurance claims and claims expense (1)	$	(274)	$	(925)	$	(534)	$	(1,300)
Accident, health and other policy benefits	(7)		39		(32)		22

(1)Includes approximately $60 million of ceded losses related to the Nationwide Reinsurance Program for the nine months ended September 30, 2023. Ceded losses for the three and nine months ended September 30, 2022 included $305 million of expected reinsurance recoveries related to the Florida Excess Catastrophe Reinsurance Program for Hurricane Ian.

Reinsurance and indemnification recoverables


Reinsurance and indemnification recoverables, net
($ in millions)	September 30, 2023		December 31, 2022
Property and casualty
Paid and due from reinsurers and indemnitors	$	268	$	291
Unpaid losses estimated (including IBNR)	8,654		9,176
Total property and casualty	$	8,922	$	9,467

Accident and health insurance	161		152
Total	$	9,083	$	9,619


Rollforward of credit loss allowance for reinsurance recoverables
($ in millions)	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
Property and casualty (1) (2)
Beginning balance	$	(61)	$	(66)	$	(62)	$	(66)
(Increase) decrease in the provision for credit losses	—		(5)		1		(5)
Write-offs	—		9		—		9
Ending balance	$	(61)	$	(62)	$	(61)	$	(62)

Accident and health insurance
Beginning balance	$	(3)	$	(8)	$	(3)	$	(8)

Increase in the provision for credit losses	—		—		—		—
Write-offs	—		—		—		—
Ending balance	$	(3)	$	(8)	$	(3)	$	(8)

(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.