Property and Casualty Insurance Reserves (Tables)

9 Months Ended

Sep. 30, 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 nine months ended September 30, 2023 and 2022 was:

	Nine Months Ended
(Dollars in Millions)	Sep 30, 2023		Sep 30, 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	2,660.5		3,125.0
Prior Years	158.5		(22.5)
Total Incurred Losses and LAE	2,819.0		3,102.5
Paid Losses and LAE Related to:
Current Year	1,411.8		1,748.9
Prior Years	1,428.9		1,406.6
Total Paid Losses and LAE	2,840.7		3,155.5
Property and Casualty Insurance Reserves, Net of Reinsurance at End of Period	2,695.6		2,677.8
Plus Reinsurance Recoverables at End of Period	28.9		42.5
Property and Casualty Insurance Reserves, Gross of Reinsurance at End of Period	$	2,724.5	$	2,720.3

Premium Receivable, Allowance for Credit Loss

The following table presents receivables from policyholders, net of the allowance for expected credit losses including a roll forward of changes in the allowance for expected credit losses for the nine months ended September 30, 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			32.8
Write-offs of Uncollectible Receivables from Policyholders			(32.4)
Balance at End of Period	$	1,102.6	$	13.5

The following table presents receivables from policyholders, net of the allowance for expected credit losses including a roll forward of changes in the allowance for expected credit losses for the nine months ended September 30, 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			36.7
Write-offs of Uncollectible Receivables from Policyholders			(37.8)
Balance at End of Period	$	1,349.1	$	12.5