Property and Casualty Insurance Reserves (Tables)

3 Months Ended

Mar. 31, 2023

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

Liability for Unpaid Claims Adjustment Expense by Expense Type

Property and casualty insurance reserve activity for the three months ended March 31, 2023 and 2022 was:

	Three Months Ended
(Dollars in Millions)	Mar 31, 2023		Mar 31, 2022
Property and Casualty Insurance Reserves:
Gross of Reinsurance at Beginning of Year	$	2,756.9	$	2,772.7
Less Reinsurance Recoverables at Beginning of Year	39.6		41.9
Property and Casualty Insurance Reserves, Net of Reinsurance at Beginning of Year	2,717.3		2,730.8
Incurred Losses and Loss Adjustment Expenses (“ LAE”) Related to:
Current Year	944.0		1,041.9
Prior Years	41.9		(2.7)
Total Incurred Losses and LAE	985.9		1,039.2
Paid Losses and LAE Related to:
Current Year	325.5		373.9
Prior Years	690.9		676.9
Total Paid Losses and LAE	1,016.4		1,050.8
Property and Casualty Insurance Reserves, Net of Reinsurance at End of Period	2,686.8		2,719.2
Plus Reinsurance Recoverables at End of Period	34.3		40.9
Property and Casualty Insurance Reserves - Gross of Reinsurance at End of Period	$	2,721.1	$	2,760.1

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 three months ended March 31, 2023.

(Dollars in Millions)	Receivables from Policyholders, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses
Balance at Beginning of Year	$	1,286.6	$	13.1
Provision for Expected Credit Losses			11.0
Write-offs of Uncollectible Receivables from Policyholders			(12.8)
Balance at End of Period	$	1,344.0	$	11.3

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 three months ended March 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			11.3
Write-offs of Uncollectible Receivables from Policyholders			(11.9)
Balance at End of Period	$	1,404.5	$	13.0