Reserves for Insurance Losses and Loss Adjustment Expenses

3 Months Ended

Mar. 31, 2022

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


($ in millions)	2022		2021
Total gross reserves for insurance losses and loss adjustment expenses at January 1,	$	122	$	129
Less: Reinsurance recoverable	81		90
Net reserves for insurance losses and loss adjustment expenses at January 1,	41		39
Net insurance losses and loss adjustment expenses incurred related to:
Current year	61		64
Prior years (a)	(3)		(1)
Total net insurance losses and loss adjustment expenses incurred	58		63
Net insurance losses and loss adjustment expenses paid or payable related to:
Current year	(36)		(36)
Prior years	(20)		(23)
Total net insurance losses and loss adjustment expenses paid or payable	(56)		(59)

Net reserves for insurance losses and loss adjustment expenses at March 31,	43		43
Plus: Reinsurance recoverable	80		89
Total gross reserves for insurance losses and loss adjustment expenses at March 31,	$	123	$	132

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