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Unpaid Claims and Claim Expenses | 3 Months Ended
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Mar. 31, 2022
Insurance Loss Reserves [Abstract] |
Unpaid Claims and Claim Expenses | Unpaid Claims and Claim Expenses The following table is a summary reconciliation of the beginning and ending Property & Casualty unpaid claims and claim expense reserves for the periods indicated. The table presents reserves on both a gross and net (after reinsurance) basis. The total net Property & Casualty insurance claims and claim expense incurred amounts are reflected in the Consolidated Statements of Operations. The end of the period gross reserve (before reinsurance) balances and the reinsurance recoverable balances are reflected on a gross basis in the Consolidated Balance Sheets.
($ in millions) |  |  |  | Three Months Ended March 31,
|  |  |  |  |  | 2022 |  | 2021
Property & Casualty |  |  |  |  |  |  |  |
Beginning gross reserves(1) |  |  |  |  |  | $ | 362.4 |  |  | $ | 372.2 |
Less: reinsurance recoverables |  |  |  |  |  | 110.3 |  |  | 112.9 |
Net reserves, beginning of period(2) |  |  |  |  |  | 252.1 |  |  | 259.3 |
Incurred claims and claim expenses: |  |  |  |  |  |  |  |
Claims occurring in the current period |  |  |  |  |  | 108.3 |  |  | 94.8 |
Decrease in estimated reserves for claims occurring in prior periods(3) |  |  |  |  |  | — |  |  | — |
Total claims and claim expenses incurred(4) |  |  |  |  |  | 108.3 |  |  | 94.8 |
Claims and claim expense payments for claims occurring during: |  |  |  |  |  |  |  |
Current period |  |  |  |  |  | 33.8 |  |  | 34.4 |
Prior periods |  |  |  |  |  | 78.4 |  |  | 58.1 |
Total claims and claim expense payments |  |  |  |  |  | 112.2 |  |  | 92.5 |
Net reserves, end of period(2) |  |  |  |  |  | 248.2 |  |  | 261.6 |
Plus: reinsurance recoverables |  |  |  |  |  | 108.0 |  |  | 112.5 |
Ending gross reserves(1) |  |  |  |  |  | $ | 356.2 |  |  | $ | 374.1 |
(1)Unpaid claims and claim expenses as reported in the Consolidated Balance Sheets also include reserves for Life & Retirement and Supplemental & Group Benefits of $119.5 million and $78.4 million as of March 31, 2022 and 2021, respectively, in addition to Property & Casualty reserves. (2)Reserves net of anticipated reinsurance recoverables. (3)Shows the amounts by which the Company decreased its reserves in each of the periods indicated for claims occurring in previous periods to reflect subsequent information on such claims and changes in their projected final settlement costs. (4)Benefits, claims and settlement expenses as reported in the Consolidated Statements of Operations also include amounts for Life & Retirement and Supplemental & Group Benefits of $68.7 million and $39.5 million for the three months ended March 31, 2022 and 2021, respectively, in addition to Property & Casualty amounts. There were no net favorable development of total reserves for Property & Casualty claims occurring in prior years for the three months ended March 31, 2022 and 2021, respectively.

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- References No definition available. + Details
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- Definition The entire disclosure for liabilities related to future policy benefits and unpaid claims and claim adjustments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -URI http://asc.fasb.org/subtopic&trid=2560295 + Details
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