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v3.22.2.2

Unpaid Claims and Claim Expenses | 9 Months Ended
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Sep. 30, 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 reinsurance recoverable balances) are reflected on a gross basis in the Consolidated Balance Sheets.
($ in millions) |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2022 |  | 2021 |  | 2022 |  | 2021
Property & Casualty |  |  |  |  |  |  |  |
Beginning gross reserves(1) |  | $ | 378.4 |  |  | $ | 368.4 |  |  | $ | 362.4 |  |  | $ | 372.2 |
Less: reinsurance recoverables |  | 109.8 |  |  | 108.9 |  |  | 110.3 |  |  | 112.9 |
Net reserves, beginning of period(2) |  | 268.6 |  |  | 259.5 |  |  | 252.1 |  |  | 259.3 |
Incurred claims and claim expenses: |  |  |  |  |  |  |  |
Claims occurring in the current period |  | 120.3 |  |  | 132.5 |  |  | 372.8 |  |  | 345.4 |
Increase (decrease) in estimated reserves for claims occurring in prior periods(3) |  | 2.0 |  |  | (3.0) |  |  | 8.0 |  |  | (7.2) |
Total claims and claim expenses incurred(4) |  | 122.3 |  |  | 129.5 |  |  | 380.8 |  |  | 338.2 |
Claims and claim expense payments for claims occurring during: |  |  |  |  |  |  |  |
Current period |  | 102.8 |  |  | 96.8 |  |  | 221.1 |  |  | 210.3 |
Prior periods |  | 29.7 |  |  | 26.4 |  |  | 153.4 |  |  | 121.4 |
Total claims and claim expense payments |  | 132.5 |  |  | 123.2 |  |  | 374.5 |  |  | 331.7 |
Net reserves, end of period(2) |  | 258.4 |  |  | 265.8 |  |  | 258.4 |  |  | 265.8 |
Plus: reinsurance recoverables |  | 109.0 |  |  | 109.6 |  |  | 109.0 |  |  | 109.6 |
Ending gross reserves(1) |  | $ | 367.4 |  |  | $ | 375.4 |  |  | $ | 367.4 |  |  | $ | 375.4 |
(1)Unpaid claims and claim expenses as reported in the Consolidated Balance Sheets also include reserves for Life & Retirement and Supplemental & Group Benefits of $114.5 million and $64.7 million as of September 30, 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 increased (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 $51.3 million and $177.4 million for the three and nine months ended September 30, 2022, respectively, in addition to Property & Casualty amounts. Benefits, claims and settlement expenses for Life & Retirement and Supplemental & Group Benefits of $35.3 million and $108.0 million for the three and nine months ended September 30, 2021, respectively. Development of total reserves for Property & Casualty claims occurring in prior years was $8.0 million net unfavorable and $7.2 million net favorable for the nine months ended September 30, 2022 and 2021, respectively. The unfavorable development for the nine months ended September 30, 2022 was the result of unfavorable loss trends in auto offset by favorable loss trends in homeowners loss emergence for accident years 2021 and prior.

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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 https://asc.fasb.org/subtopic&trid=2560295 + Details
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