XML 37 R27.htm IDEA: XBRL DOCUMENT v3.24.3

Property Casualty Loss and Loss Expenses (Tables)

9 Months Ended

Sep. 30, 2024

Premiums Written, Net [Abstract]

Consolidated Property Casualty Loss And Loss Expense Reserves

This table summarizes activity for our consolidated property casualty loss and loss expense reserves:

(Dollars in millions)						Three months ended September 30,												Nine months ended September 30,
						2024						2023						2024						2023
Gross loss and loss expense reserves, beginning of period						$	9,494					$	8,807					$	8,975					$	8,336
Less reinsurance recoverable						303						424						362						405
Net loss and loss expense reserves, beginning of period						9,191						8,383						8,613						7,931
Net incurred loss and loss expenses related to:
Current accident year						1,570						1,314						4,392						4,053
Prior accident years						(71)						(53)						(211)						(213)
Total incurred						1,499						1,261						4,181						3,840
Net paid loss and loss expenses related to:
Current accident year						574						597						1,262						1,286
Prior accident years						540						461						1,956						1,899
Total paid						1,114						1,058						3,218						3,185
Net loss and loss expense reserves, end of period						9,576						8,586						9,576						8,586
Plus reinsurance recoverable						290						419						290						419
Gross loss and loss expense reserves, end of period						$	9,866					$	9,005					$	9,866					$	9,005

X

- References

No definition available.

+ Details

Name:	us-gaap_PremiumsWrittenNetConsolidatedAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480081/944-40-50-3

+ Details

Name:	us-gaap_ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration