Property and Casualty Insurance Reserves (Tables)

12 Months Ended

Dec. 31, 2022

Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]

Short-duration Insurance Contracts, Claims Development

NOTE 7. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued)

Specialty Personal Automobile Insurance—Liability1

DOLLARS IN MILLIONS, EXCEPT CUMULATIVE INCURRED CLAIMS											As of December 31, 2022
	Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31,										Total of IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
Accident Year	2018		2019		2020		2021		2022
2018	$	1,324.0	$	1,310.5	$	1,307.8	$	1,314.5	$	1,316.1	$	12.7	509,081
2019			1,461.5		1,494.7		1,506.1		1,508.3		27.2		548,271
2020					1,401.2		1,406.4		1,407.8		52.5		476,238
2021							1,856.9		1,824.7		152.4		583,773
2022									1,765.9		552.2		440,324
Total									7,822.8
	Cumulative Paid Losses and Allocated LAE, Net of Reinsurance
	For the Years Ended December 31,
Accident Year	2018		2019		2020		2021		2022
2018	$	541.3	$	1,050.8	$	1,211.8	$	1,265.5	$	1,292.6
2019			567.3		1,200.7		1,382.0		1,452.3
2020					555.2		1,107.6		1,287.8
2021							657.1		1,429.4
2022									738.2
Total									6,200.3
Outstanding Loss and Allocated LAE Reserves on Accident Years before 2018, Net of Reinsurance									20.0
Loss and Allocated LAE Reserves, Net of Reinsurance									$	1,642.5

1Tables retrospectively include Infinity and AAC’s historical incurred and paid accident year claim information for all periods presented.

NOTE 7. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued)

Specialty Personal Automobile Insurance—Physical Damage1

DOLLARS IN MILLIONS, EXCEPT CUMULATIVE INCURRED CLAIMS											As of December 31, 2022
	Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31,										Total of IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
Accident Year	2018		2019		2020		2021		2022
2018	$	558.9	$	548.6	$	548.0	$	547.8	$	548.1	$	(0.2)	309,625
2019			624.3		630.3		629.6		629.7		(9.7)		324,516
2020					650.5		659.5		659.5		(1.3)		296,417
2021							958.0		967.5		(12.2)		361,716
2022									993.5		25.8		297,398
Total									3,798.3
	Cumulative Paid Losses and Allocated LAE, Net of Reinsurance
	For the Years Ended December 31,
Accident Year	2018		2019		2020		2021		2022
2018	$	509.4	$	553.1	$	549.0	$	548.3	$	548.2
2019			570.8		634.8		630.6		630.0
2020					585.5		663.8		659.7
2021							890.1		977.5
2022									921.9
Total									3,737.3
Outstanding Loss and Allocated LAE Reserves on Accident Years before 2018, Net of Reinsurance									1.7
Loss and Allocated LAE Reserves, Net of Reinsurance									$	62.7

1Tables retrospectively include Infinity and AAC’s historical incurred and paid accident year claim information for all periods presented.

NOTE 7. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued)

Commercial Automobile Insurance—Liability1

DOLLARS IN MILLIONS, EXCEPT CUMULATIVE INCURRED CLAIMS											As of December 31, 2022
	Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31,										Total of IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
Accident Year	2018		2019		2020		2021		2022
2018	$	123.2	$	116.5	$	113.0	$	110.9	$	111.2	$	3.9	20,213
2019			128.4		126.1		126.6		128.1		7.5		19,624
2020					140.5		152.0		154.0		15.3		19,581
2021							225.6		228.6		42.2		27,143
2022									305.1		153.0		28,674
Total									927.0
	Cumulative Paid Losses and Allocated LAE, Net of Reinsurance and Indemnification
	For the Years Ended December 31,
Accident Year	2018		2019		2020		2021		2022
2018	$	36.8	$	68.8	$	88.1	$	98.1	$	104.3
2019			32.4		75.7		99.5		113.1
2020					37.0		87.6		111.7
2021							50.8		128.0
2022									72.2
Total									529.3
Outstanding Loss and Allocated LAE Reserves on Accident Years before 2018, Net of Reinsurance									16.6
Loss and Allocated LAE Reserves, Net of Reinsurance									$	414.3

1Tables retrospectively include Infinity’s historical incurred and paid accident year claim information for all periods presented.

NOTE 7. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued)

Commercial Automobile Insurance—Physical Damage1

DOLLARS IN MILLIONS, EXCEPT CUMULATIVE INCURRED CLAIMS											As of December 31, 2022
	Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31,										Total of IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
Accident Year	2018		2019		2020		2021		2022
2018	$	23.6	$	23.5	$	23.6	$	23.6	$	23.6	$	0.1	9,570
2019			26.0		27.1		26.9		26.8		(0.5)		9,311
2020					31.9		32.2		32.1		0.1		11,039
2021							52.4		51.9		(0.1)		17,687
2022									74.5		2.0		20,280
Total									208.9
	Cumulative Paid Losses and Allocated LAE, Net of Reinsurance and Indemnification
	For the Years Ended December 31,
Accident Year	2018		2019		2020		2021		2022
2018	$	21.7	$	23.6	$	23.6	$	23.6	$	23.6
2019			23.0		26.9		26.8		26.8
2020					26.2		31.9		32.0
2021							43.3		51.9
2022									66.8
Total									201.1
Outstanding Loss and Allocated LAE Reserves on Accident Years before 2018, Net of Reinsurance									0.5
Loss and Allocated LAE Reserves, Net of Reinsurance									$	8.3

1Tables retrospectively include Infinity’s historical incurred and paid accident year claim information for all periods presented.

NOTE 7. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued)

Preferred Personal Automobile Insurance—Liability

DOLLARS IN MILLIONS, EXCEPT CUMULATIVE INCURRED CLAIMS											As of December 31, 2022
	Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31,										Total of IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
Accident Year	2018		2019		2020		2021		2022
2018	$	157.6	$	156.3	$	161.7	$	163.4	$	163.4	$	1.1	31,701
2019			172.2		195.5		200.0		201.8		2.7		34,586
2020					148.9		153.6		151.8		7.0		24,746
2021							176.9		179.8		21.9		27,449
2022									165.0		56.1		22,833
Total									861.8
	Cumulative Paid Losses and Allocated LAE, Net of Reinsurance
	For the Years Ended December 31,
Accident Year	2018		2019		2020		2021		2022
2018	$	55.5	$	107.6	$	132.7	$	147.4	$	155.8
2019			62.7		127.9		160.8		181.1
2020					44.4		92.8		117.7
2021							50.3		106.1
2022									55.0
Total									615.7
Outstanding Loss and Allocated LAE Reserves on Accident Years before 2018, Net of Reinsurance									8.7
Loss and Allocated LAE Reserves, Net of Reinsurance									$	254.8

NOTE 7. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued)

Preferred Personal Automobile Insurance—Physical Damage

DOLLARS IN MILLIONS, EXCEPT CUMULATIVE INCURRED CLAIMS											As of December 31, 2022
	Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31,										Total of IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
Accident Year	2018		2019		2020		2021		2022
2018	$	113.9	$	111.0	$	110.4	$	110.4	$	110.3	$	0.1	61,733
2019			126.4		125.8		125.9		125.8		0.4		67,101
2020					96.1		98.0		97.9		0.3		47,639
2021							118.5		117.9		(0.2)		53,626
2022									110.9		(2.7)		45,908
Total									562.8
	Cumulative Paid Losses and Allocated LAE, Net of Reinsurance
	For the Years Ended December 31,
Accident Year	2018		2019		2020		2021		2022
2018	$	107.2	$	111.4	$	110.4	$	110.3	$	110.2
2019			120.7		126.5		125.6		125.4
2020					90.9		98.4		97.6
2021							113.1		118.1
2022									108.7
Total									560.0
Outstanding Loss and Allocated LAE Reserves on Accident Years before 2018, Net of Reinsurance									—
Loss and Allocated LAE Reserves, Net of Reinsurance									$	2.8

NOTE 7. PROPERTY AND CASUALTY INSURANCE RESERVES (Continued)

Homeowners Insurance

DOLLARS IN MILLIONS, EXCEPT CUMULATIVE INCURRED CLAIMS											As of December 31, 2022
	Incurred Losses and Allocated LAE, Net of Reinsurance For the Years Ended December 31,										Total of IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
Accident Year	2018		2019		2020		2021		2022
2018	$	185.9	$	183.0	$	183.6	$	185.3	$	185.0	$	4.5	16,065
2019			162.9		161.8		163.1		162.8		2.1		14,558
2020					157.0		149.8		144.6		3.0		14,036
2021							149.9		149.8		7.8		13,590
2022									142.7		10.0		10,304
Total									784.9
	Cumulative Paid Losses and Allocated LAE, Net of Reinsurance
	For the Years Ended December 31,
Accident Year	2018		2019		2020		2021		2022
2018	$	127.4	$	180.2	$	180.0	$	183.1	$	183.6
2019			111.1		150.4		157.7		159.5
2020					94.6		130.8		137.4
2021							100.6		132.6
2022									97.0
Total									710.1
Outstanding Loss and Allocated LAE Reserves on Accident Years before 2018, Net of Reinsurance									3.5
Loss and Allocated LAE Reserves, Net of Reinsurance									$	78.3

Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability

The following table reconciles the net incurred and paid claims development tables presented above to the Company's liability for Property and Casualty Insurance Reserves included in the Consolidated Balance Sheets at December 31, 2022.

DOLLARS IN MILLIONS	2022
Property and Casualty Insurance Reserves, Net of Reinsurance:
Specialty Personal Automobile Insurance—Liability	$	1,642.5
Specialty Personal Automobile Insurance—Physical Damage	62.7
Commercial Automobile Insurance—Liability	414.3
Commercial Automobile Insurance—Physical Damage	8.3
Preferred Personal Automobile Insurance—Liability	254.8
Preferred Personal Automobile Insurance—Physical Damage	2.8
Homeowners Insurance	78.3
Other	44.1
Total	$	2,507.8
Reinsurance Recoverables on Unpaid Losses and Allocated LAE:
Specialty Personal Automobile Insurance—Liability	$	1.5
Specialty Personal Automobile Insurance—Physical Damage	—
Commercial Automobile Insurance—Liability	19.2
Commercial Automobile Insurance—Physical Damage	—
Preferred Personal Automobile Insurance—Liability	10.1
Preferred Personal Automobile Insurance—Physical Damage	—
Homeowners Insurance	4.9
Other	3.9
Total	39.6
Unallocated LAE	209.5
Property and Casualty Insurance Reserves, Gross of Reinsurance	$	2,756.9

Short-duration Insurance Contracts, Schedule of Historical Claims Duration

The following is supplementary information about average historical claims duration as of December 31, 2022.

Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (Unaudited)
Years	1		2		3		4		5
Specialty Personal Automobile Insurance—Liability	39.2	%	79.1	%	91.7	%	96.2	%	98.2	%
Specialty Personal Automobile Insurance—Physical Damage	91.4		100.9		100.1		100.0		100.0
Commercial Automobile Insurance—Liability	25.7		58.5		76.5		88.3		93.8
Commercial Automobile Insurance—Physical Damage	86.4		99.8		99.8		99.9		99.9
Preferred Personal Automobile Insurance—Liability	31.1		62.3		79.5		90.0		95.3
Preferred Personal Automobile Insurance—Physical Damage	96.0		100.5		99.8		99.8		99.9
Homeowners Insurance	67.5		92.2		96.4		98.5		99.3

Liability for Unpaid Claims Adjustment Expense by Expense Type

Property and Casualty Insurance Reserve activity for the years ended December 31, 2022, 2021 and 2020 was:

DOLLARS IN MILLIONS	2022		2021		2020
Property and Casualty Insurance Reserves:
Gross of Reinsurance at Beginning of Year	$	2,772.7	$	1,982.5	$	1,969.8
Less Reinsurance Recoverables at Beginning of Year	41.9		50.1		65.6
Property and Casualty Insurance Reserves, Net of Reinsurance at Beginning of Year	2,730.8		1,932.4		1,904.2
Property and Casualty Insurance Reserves Acquired, Net of Reinsurance	—		211.1		—
Incurred Losses and LAE related to:
Current Year	4,103.3		4,052.7		2,873.6
Prior Years	(14.6)		106.7		36.4
Total Incurred Losses and LAE	4,088.7		4,159.4		2,910.0
Paid Losses and LAE related to:
Current Year:	2,460.5		2,303.4		1,679.1
Prior Years	1,641.7		1,268.7		1,202.7
Total Paid Losses and LAE	4,102.2		3,572.1		2,881.8
Property and Casualty Insurance Reserves, Net of Reinsurance at End of Year	2,717.3		2,730.8		1,932.4
Plus Reinsurance Recoverables at End of Year	39.6		41.9		50.1
Property and Casualty Insurance Reserves, Gross of Reinsurance at End of Year	$	2,756.9	$	2,772.7	$	1,982.5

Premium Receivable, Allowance for Credit Loss

The following table presents receivables from policyholders, net of the allowance for expected credit losses including a rollforward of changes in the allowance for expected credit losses for the year ended December 31, 2022.

(Dollars in Millions)	Receivables from Policyholders, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses
Balance at Beginning of Year	$	1,418.7	$	13.6
Provision for Expected Credit Losses			48.0
Write-offs of Uncollectible Receivables from Policyholders			(48.5)
Balance at End of Year	$	1,286.6	$	13.1

The following table presents receivables from policyholders, net of the allowance for expected credit losses including a rollforward of changes in the allowance for expected credit losses for the year ended December 31, 2021.

(Dollars in Millions)	Receivables from Policyholders, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses
Balance at Beginning of Year	$	1,194.5	$	20.9
Provision for Expected Credit Losses			50.5
Write-offs of Uncollectible Receivables from Policyholders			(57.8)
Balance at End of Year	$	1,418.7	$	13.6