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Property Casualty Loss and Loss Expenses (Tables)

3 Months Ended

Mar. 31, 2025

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 March 31,
																		2025						2024
Gross loss and loss expense reserves, beginning of period																		$	9,937					$	8,975
Less reinsurance recoverable																		269						362
Net loss and loss expense reserves, beginning of period																		9,668						8,613
Net incurred loss and loss expenses related to:
Current accident year																		1,978						1,370
Prior accident years																		(91)						(100)
Total incurred																		1,887						1,270
Net paid loss and loss expenses related to:
Current accident year																		593						205
Prior accident years																		806						832
Total paid																		1,399						1,037
Net loss and loss expense reserves, end of period																		10,156						8,846
Plus reinsurance recoverable																		551						332
Gross loss and loss expense reserves, end of period																		$	10,707					$	9,178

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- References

No definition available.

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- 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

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