Reserves for Insurance Losses and Loss Adjustment Expenses Reserves for Insurance Losses and Loss Adjustment Expenses

3 Months Ended

Mar. 31, 2020

The following table shows a rollforward of our reserves for insurance losses and loss adjustment expenses.



($ in millions)	2020			2019
Total gross reserves for insurance losses and loss adjustment expenses at January 1,	$	122		$	134
Less: Reinsurance recoverable	88			96
Net reserves for insurance losses and loss adjustment expenses at January 1,	34			38
Net insurance losses and loss adjustment expenses incurred related to:
Current year	72			59
Prior years (a)	2			—
Total net insurance losses and loss adjustment expenses incurred	74			59
Net insurance losses and loss adjustment expenses paid or payable related to:
Current year	(46		)	(33		)
Prior years	(24		)	(23		)
Total net insurance losses and loss adjustment expenses paid or payable	(70		)	(56		)
Net reserves for insurance losses and loss adjustment expenses at March 31,	38			41
Plus: Reinsurance recoverable	104			94
Total gross reserves for insurance losses and loss adjustment expenses at March 31,	$	142		$	135

(a)

There have been no material adverse changes to the reserve for prior years.