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v3.22.1

Reinsurance and indemnification | 3 Months Ended
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Mar. 31, 2022
Reinsurance Disclosures [Abstract] |
Reinsurance and indemnification |
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 March 31, |  |  |  |
| 2022 |  | 2021 |  |  |  |  |
Property and casualty insurance premiums earned |  | $ | (427) |  |  | $ | (508) |  |  |  |  |  |
Accident and health insurance premiums and contract charges |  | (8) |  |  | (24) |  |  |  |  |  |
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 March 31, |  |  |
| 2022 |  | 2021 |  |  |  |  |
Property and casualty insurance claims and claims expense (1) (2) |  | $ | (109) |  |  | $ | (1,593) |  |  |  |  |  |
Accident, health and other policy benefits |  | (7) |  |  | (29) |  |  |  |  |  |
(1)Ceded losses incurred included a reduction of $12 million and an increase of $386 million related to the Michigan Catastrophic Claims Association for the three months ended March 31, 2022 and 2021, respectively. (2)Included approximately $955 million of ceded losses, net of approximately $75 million of reinstatement premiums, related to the Nationwide Reinsurance Program for the three months ended March 31, 2021. Reinsurance and indemnification recoverables
Reinsurance and indemnification recoverables, net |  |
($ in millions) |  | March 31, 2022 |  |  |  | December 31, 2021 |  |
Property and casualty |  |  |  |  |  |  |  |
Paid and due from reinsurers and indemnitors |  | $ | 473 |  |  |  |  | $ | 391 |  |  |
Unpaid losses estimated (including IBNR) |  | 9,074 |  |  |  |  | 9,479 |  |  |
Total property and casualty |  | $ | 9,547 |  |  |  |  | $ | 9,870 |  |  |
Accident and health insurance |  | 144 |  |  |  |  | 154 |  |  |
Total |  | $ | 9,691 |  |  |  |  | $ | 10,024 |  |  |
Rollforward of credit loss allowance for reinsurance recoverables |  |  |  |  |  |
($ in millions) |  |  |  | Three months ended March 31,
|  |  |  |  | 2022 |  | 2021
Property and casualty (1) (2) |  |  |  |  |  |  |  |
Beginning balance |  |  |  |  |  | $ | (66) |  |  | $ | (59) |
Increase in the provision for credit losses |  |  |  |  |  | — |  |  | (1) |
Write-offs |  |  |  |  |  | — |  |  | — |
Ending balance |  |  |  |  |  | $ | (66) |  |  | $ | (60) |
Accident and health insurance |  |  |  |  |  |  |  |
Beginning balance |  |  |  |  |  | $ | (8) |  |  | $ | (1) |
Increase in the provision for credit losses |  |  |  |  |  | — |  |  | — |
Write-offs |  |  |  |  |  | — |  |  | — |
Ending balance |  |  |  |  |  | $ | (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.

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- Definition The entire disclosure pertaining to the existence, magnitude and information about insurance that has been ceded to or assumed from another insurance company, including the methodologies and assumptions used in determining recorded amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -URI http://asc.fasb.org/topic&trid=2303980 + Details
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