Reserves for Insurance Losses and Loss Adjustment Expenses

6 Months Ended

Jun. 30, 2023

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


($ in millions)	2023		2022
Total gross reserves for insurance losses and loss adjustment expenses at January 1,	$	119	$	122
Less: Reinsurance recoverable	72		81
Net reserves for insurance losses and loss adjustment expenses at January 1,	47		41
Net insurance losses and loss adjustment expenses incurred related to:
Current year	218		151
Prior years (a)	4		(4)
Total net insurance losses and loss adjustment expenses incurred	222		147
Net insurance losses and loss adjustment expenses paid or payable related to:
Current year	(154)		(114)
Prior years	(35)		(24)
Total net insurance losses and loss adjustment expenses paid or payable	(189)		(138)

Net reserves for insurance losses and loss adjustment expenses at June 30,	80		50
Plus: Reinsurance recoverable	72		81
Total gross reserves for insurance losses and loss adjustment expenses at June 30,	$	152	$	131

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