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Reinsurance
 9 Months Ended
Sep. 30, 2025
Reinsurance Disclosures [Abstract]  
Reinsurance Reinsurance
Primary components of our property casualty reinsurance assumed operations include involuntary and voluntary assumed as well as contracts from our reinsurance assumed operations, known as Cincinnati Re. Primary components of our ceded reinsurance include a property per risk treaty, property excess treaty, casualty per occurrence treaty, casualty excess treaty, property catastrophe treaty and retrocessions on our reinsurance assumed operations. Management’s decisions about the appropriate level of risk retention are affected by various factors, including changes in our underwriting practices, capacity to retain risks and reinsurance market conditions.

The table below summarizes our consolidated property casualty insurance net written premiums, earned premiums and incurred loss and loss expenses:
(Dollars in millions)Three months ended September 30,Nine months ended September 30,
2025202420252024
Direct written premiums$2,482 $2,285 $7,542 $6,772 
Assumed written premiums98 102 597 577 
Ceded written premiums(87)(94)(418)(349)
Net written premiums$2,493 $2,293 $7,721 $7,000 
Direct earned premiums$2,440 $2,179 $7,020 $6,128 
Assumed earned premiums162 159 514 466 
Ceded earned premiums(118)(121)(389)(310)
Earned premiums$2,484 $2,217 $7,145 $6,284 
Direct incurred loss and loss expenses$1,408 $1,415 $5,065 $3,960 
Assumed incurred loss and loss expenses78 103 405 242 
Ceded incurred loss and loss expenses(22)(19)(532)(21)
Incurred loss and loss expenses$1,464 $1,499 $4,938 $4,181 
Our life insurance company purchases reinsurance for protection of a portion of the risks that are written. Primary components of our life reinsurance program include individual mortality coverage, aggregate catastrophe and accidental death coverage in excess of certain deductibles.

The table below summarizes our consolidated life insurance earned premiums and contract holders' benefits incurred:
(Dollars in millions)Three months ended September 30,Nine months ended September 30,
2025202420252024
Direct earned premiums$104 $101 $307 $301 
Ceded earned premiums(21)(21)(61)(61)
Earned premiums$83 $80 $246 $240 
Direct contract holders' benefits incurred$91 $92 $289 $262 
Ceded contract holders' benefits incurred(15)(13)(59)(36)
Contract holders' benefits incurred$76 $79 $230 $226 
 
The ceded benefits incurred can vary depending on the type of life insurance policy held and the year the policy was issued.

The allowance for uncollectible property casualty premiums receivable was $18 million at both September 30, 2025, and December 31, 2024. The allowances for credit losses on other premiums receivable and reinsurance recoverable assets were immaterial at September 30, 2025, and December 31, 2024.