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Allowance for Expected Credit Losses | 6 Months Ended
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Jun. 30, 2023
Credit Loss [Abstract] |
Allowance for expected credit losses | Premiums Receivable The following table provides a roll forward of the allowance for expected credit losses of the Company’s premium receivables:
| Premium Receivables, Net of Allowance | Allowance for Expected Credit Losses |
Three Months Ended June 30, 2023 |  |
Balance at beginning of period | $ | 4,513 |  | $ | 36 |  |
Change for provision of expected credit losses (1) | $ | (2) |  |
Balance at end of period | $ | 5,296 |  | $ | 34 |  |
Three Months Ended June 30, 2022 |  |
Balance at beginning of period | $ | 3,224 |  | $ | 39 |  |
Change for provision of expected credit losses (1) | $ | (1) |  |
Balance at end of period | $ | 3,634 |  | $ | 38 |  |
Six Months Ended June 30, 2023 |  |  |
Balance at beginning of period | $ | 3,625 |  | $ | 35 |  |
Change for provision of expected credit losses (1) | (1) |  |
Balance at end of period | $ | 5,296 |  | $ | 34 |  |
Six Months Ended June 30, 2022 |  |  |
Balance at beginning of period | $ | 2,633 |  | $ | 40 |  |
Change for provision of expected credit losses (1) | (2) |  |
Balance at end of period | $ | 3,634 |  | $ | 38 |  |
(1)Amounts deemed uncollectible are written-off in operating expenses. For the 2023 second quarter and 2022 second quarter, amounts written off were $1 million and $3 million, respectively. For the six months ended June 30, 2023 and 2022 period, amounts written off were $2 million and $5 million, respectively. Reinsurance Recoverables The following table provides a roll forward of the allowance for expected credit losses of the Company’s reinsurance recoverables:
| Reinsurance Recoverables, Net of Allowance |  | Allowance for Expected Credit Losses |
Three Months Ended June 30, 2023 |  |
Balance at beginning of period | $ | 6,612 |  |  | $ | 21 |  |
Change for provision of expected credit losses |  | 1 |  |
Balance at end of period | $ | 6,717 |  |  | $ | 22 |  |
Three Months Ended June 30, 2022 |  |
Balance at beginning of period | $ | 5,941 |  |  | $ | 18 |  |
Change for provision of expected credit losses |  | (3) |  |
Balance at end of period | $ | 5,939 |  |  | $ | 15 |  |
Six Months Ended June 30, 2023 |  |  |  |
Balance at beginning of period | $ | 6,564 |  |  | $ | 22 |  |
Change for provision of expected credit losses |  | — |  |
Balance at end of period | $ | 6,717 |  |  | $ | 22 |  |
Six Months Ended June 30, 2022 |  |  |  |
Balance at beginning of period | $ | 5,881 |  |  | $ | 13 |  |
Change for provision of expected credit losses |  | 2 |  |
Balance at end of period | $ | 5,939 |  |  | $ | 15 |  |
The following table summarizes the Company’s reinsurance recoverables on paid and unpaid losses (not including ceded unearned premiums):
| June 30, |  | December 31
| 2023 |  | 2022
Reinsurance recoverable on unpaid and paid losses and loss adjustment expenses | $ | 6,717 |  | $ | 6,564
% due from carriers with A.M. Best rating of “A-” or better | 67.8 | % |  | 68.8 | %
% due from all other rated carriers | 0.2 | % |  | 0.1 | %
% due from all other carriers with no A.M. Best rating (1) | 32.0 | % |  | 31.1 | %
Largest balance due from any one carrier as % of total shareholders’ equity | 8.6 | % |  | 9.0 | %
(1) At June 30, 2023 and December 31, 2022 over 95% of such amount were collateralized through reinsurance trusts, funds withheld arrangements, letters of credit or other, respectively. Contractholder Receivables The following table provides a roll forward of the allowance for expected credit losses of the Company’s contractholder receivables:
| Contract-holder Receivables, Net of Allowance |  | Allowance for Expected Credit Losses |
Three Months Ended June 30, 2023 |  |
Balance at beginning of period | $ | 1,750 |  |  | $ | 2 |  |
Change for provision of expected credit losses |  | 1 |  |
Balance at end of period | $ | 1,761 |  |  | $ | 3 |  |
Three Months Ended June 30, 2022 |  |
Balance at beginning of period | $ | 1,810 |  |  | $ | 4 |  |
Change for provision of expected credit losses |  | (1) |  |
Balance at end of period | 1,758 |  |  | $ | 3 |  |
Six Months Ended June 30, 2023 |  |  |  |
Balance at beginning of period | $ | 1,731 |  |  | $ | 3 |  |
Change for provision of expected credit losses |  | — |  |
Balance at end of period | $ | 1,761 |  |  | $ | 3 |  |
Six Months Ended June 30, 2022 |  |  |  |
Balance at beginning of period | $ | 1,829 |  |  | $ | 3 |  |
Change for provision of expected credit losses |  | — |  |
Balance at end of period | 1,758 |  |  | $ | 3 |  |

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- Definition The entire disclosure for allowance for credit losses. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 310 -Publisher FASB -URI https://asc.fasb.org//310/tableOfContent + Details
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