Reserve for Property and Casualty Insurance Claims and Claims Expense (Tables)

9 Months Ended

Sep. 30, 2021

Reserve for Property-Liability Insurance Claims and Claims Expense [Abstract]

Schedule of liability for unpaid claims and claims adjustment expense

Rollforward of the reserve for property and casualty insurance claims and claims expense
	Nine months ended September 30,
($ in millions)	2021		2020
Balance as of January 1	$	27,610	$	27,712
Less recoverables (1)	(7,033)		(6,912)
Net balance as of January 1	20,577		20,800
National General acquisition as of January 4, 2021	1,797		—
Incurred claims and claims expense related to:
Current year	21,579		17,075
Prior years	(65)		(440)
Total incurred	21,514		16,635
Claims and claims expense paid related to:
Current year	(12,539)		(9,623)
Prior years	(8,098)		(6,714)
Total paid	(20,637)		(16,337)
Net balance as of September 30	23,251		21,098
Plus recoverables	10,035		6,889
Balance as of September 30	$	33,286	$	27,987

(1)Recoverables comprises reinsurance and indemnification recoverables.

Prior year reserve reestimates included in claims and claims expense (1)
	Nine months ended September 30,
	Non-catastrophe losses				Catastrophe losses				Total
($ in millions)	2021		2020		2021 (2) (3)		2020 (4)		2021		2020
Auto	$	31	$	(60)	$	(28)	$	(41)	$	3	$	(101)
Homeowners	12		(19)		(168)		(421)		(156)		(440)
Other personal lines	(69)		(25)		(14)		(41)		(83)		(66)
Commercial lines	55		28		3		1		58		29
Run-off Property-Liability (5)	115		139		—		—		115		139
Protection Services	(2)		(1)		—		—		(2)		(1)
Total prior year reserve reestimates	$	142	$	62	$	(207)	$	(502)	$	(65)	$	(440)

(1)Favorable reserve reestimates are shown in parentheses.

(2)Includes approximately $240 million of estimated recoveries related to Nationwide Aggregate Reinsurance Program cover for aggregate catastrophe losses occurring between April 1, 2020 and December 31, 2020, which primarily impacted homeowners reestimates.

(3)Includes approximately $110 million favorable subrogation settlements arising from the Woolsey wildfire, which primarily impacted homeowners reestimates.

(4)2020 includes approximately $495 million of favorable reserve reestimates related to the PG&E Corporation and Southern California Edison subrogation settlements, which primarily impacted homeowners.

(5)The Company’s 2021 annual reserve review, using established industry and actuarial practices, resulted in unfavorable reestimates of $111 million.