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Reserve for Future Policy Benefits and Contractholder Funds (Tables)
 12 Months Ended
Dec. 31, 2022
Reserve for Future Policy Benefits and Contractholder Funds  
Reserve for future policy benefits
Reserve for future policy benefits
As of December 31,
($ in millions)20222021
Traditional life insurance and other$318 $313 
Accident and health insurance955 960 
Reserve for future policy benefits $1,273 $1,273 
Key assumptions generally used in calculating the reserve for life-contingent contract benefits
Key assumptions generally used in calculating the reserve for future policy benefits
ProductMortalityInterest rateEstimation method
Traditional life insurance
Actual company experience plus loading
Interest rate assumptions range from 1.8% to 7.0%
Net level premium reserve method using the Company’s withdrawal experience rates; includes reserves for unpaid claims
Accident and health insuranceActual company experience plus loading
Interest rate assumptions range from 2.0% to 7.0%
Unearned premium; additional contract reserves for mortality risk and unpaid claims
Short-duration insurance contracts, claims development The information about incurred and paid claims development for the 2018 to 2022 years, and the average annual percentage payout of incurred claims by age as of December 31, 2022, is presented as required supplementary information.
Auto insurance – liability coverage
($ in millions, except number of reported claims)
Incurred claims and allocated claim adjustment expenses, net of recoverables
IBNR reserves plus expected development on reported claimsCumulative number of reported claims
For the years ended December 31,Prior year reserve reestimatesAs of December 31, 2022
(unaudited)(unaudited)(unaudited)(unaudited)
Accident year
2018 (1)
2019 (1)
2020 (1)
20212022
2018$9,788 $9,758 $9,798 $9,835 $9,928 $93 $603 2,500,972 
2019— 10,526 10,471 10,716 10,905 189 1,242 2,637,152 
2020— — 8,748 8,744 8,984 240 1,813 1,904,004 
2021— — — 10,365 10,823 458 3,488 2,291,873 
2022— — — — 13,396 8,904 2,311,893 
Total$54,036 $980 
Reconciliation to total prior year reserve reestimates recognized by line
Prior year reserve reestimates for pre-2018 accident years
152 
Prior year reserve reestimates for ULAE18 
Other4 
Total prior year reserve reestimates$1,154 
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables
For the years ended December 31,
(unaudited)(unaudited)(unaudited)(unaudited)
Accident year
2018 (1)
2019 (1)
2020 (1)
20212022
2018$3,663 $6,404 $7,785 $8,703 $9,325 
2019— 3,974 7,080 8,651 9,663 
2020— — 3,135 5,858 7,171 
2021— — — 3,601 7,335 
2022— — — — 4,492 
Total$37,986 
All outstanding liabilities before 2018, net of recoverables
1,332 
Liabilities for claims and claim adjustment expenses, net of recoverables$17,382 
(1) Results include certain National General commercial lines insurance products.
Auto insurance – physical damage coverage
($ in millions, except number of reported claims)Incurred claims and allocated claim adjustment expenses, net of recoverablesIBNR reserves plus expected development on reported claimsCumulative number of reported claims
For the years ended December 31,Prior year reserve reestimatesAs of December 31, 2022
(unaudited)(unaudited)(unaudited)(unaudited)
Accident year
2018 (1)
2019 (1)
2020 (1)
20212022
2018$5,775 $5,692 $5,647 $5,640 $5,637 $(3)$— 4,686,877 
2019— 6,255 6,174 6,136 6,134 (2)(1)4,861,875 
2020— — 5,495 5,407 5,381 (26)(7)4,013,428 
2021— — — 7,285 7,342 57 (23)4,587,385 
2022— — — — 9,385 1,060 4,711,189 
Total$33,879 $26 
Reconciliation to total prior year reserve reestimates recognized by line
Prior year reserve reestimates for pre-2018 accident years
— 
Prior year reserve reestimates for ULAE3 
Other2 
Total prior year reserve reestimates$31 
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables
For the years ended December 31,
(unaudited)(unaudited)(unaudited)(unaudited)
Accident year
2018 (1)
2019 (1)
2020 (1)
20212022
2018$5,464 $5,681 $5,638 $5,635 $5,637 
2019— 5,947 6,144 6,138 6,135 
2020— — 5,129 5,415 5,388 
2021— — — 6,860 7,365 
2022— — — — 8,325 
Total$32,850 
All outstanding liabilities before 2018, net of recoverables
11 
Liabilities for claims and claim adjustment expenses, net of recoverables$1,040 
(1)Results include certain National General commercial lines insurance products.
Homeowners insurance
($ in millions, except number of reported claims)Incurred claims and allocated claim adjustment expenses, net of recoverablesIBNR reserves plus expected development on reported claimsCumulative number of reported claims
For the years ended December 31,Prior year reserve reestimatesAs of December 31, 2022
(unaudited)(unaudited)(unaudited)(unaudited)
Accident year
2018 (1)
2019 (1)
2020 (1)
20212022
2018$5,145 $5,251 $4,947 $4,818 $4,852 $34 $42 898,857 
2019— 4,853 4,912 4,920 4,931 11 85 869,860 
2020— — 5,781 5,827 5,921 94 137 989,034 
2021— — — 6,404 6,532 128 385 992,897 
2022— — — — 6,704 2,724 705,357 
Total$28,940 $267 
Reconciliation to total prior year reserve reestimates recognized by line
Prior year reserve reestimates for pre-2018 accident years
(72)
Prior year reserve reestimates for ULAE2 
Other(3)
Total prior year reserve reestimates$194 
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables
For the years ended December 31,
(unaudited)(unaudited)(unaudited)(unaudited)
Accident year
2018 (1)
2019 (1)
2020 (1)
20212022
2018$3,768 $4,873 $4,749 $4,736 $4,810 
2019— 3,527 4,576 4,768 4,846 
2020— — 4,257 5,548 5,784 
2021— — — 4,538 6,147 
2022— — — — 3,980 
Total$25,567 
All outstanding liabilities before 2018, net of recoverables
86 
Liabilities for claims and claim adjustment expenses, net of recoverables$3,459 
(1)Results include National General packaged policies, which include auto, and commercial lines insurance products.
The information about incurred and paid claims development for the 2018 to 2022 years, as of December 31, 2022, is presented as required supplementary information.
Group and individual accident and health
($ in millions, except number of reported claims)
Incurred claims and allocated claim adjustment expenses, net of recoverables
IBNR reserves plus expected development on reported claimsCumulative number of reported claims
For the years ended December 31,As of December 31, 2022
(unaudited)(unaudited)(unaudited)(unaudited)
Accident year20182019202020212022
2018$235 $205 $203 $203 $203 $— 292,491 
2019— 257 239 242 242 — 311,662 
2020— — 297 293 294 4 414,634 
2021— — — 424 420 12 671,483 
2022— — — — 437 162 427,124 
Total$1,596 
Cumulative paid claims and allocated claims adjustment expenses, net of recoverables
For the years ended December 31,
(unaudited)(unaudited)(unaudited)(unaudited)
Accident year20182019202020212022
2018$126 $201 $203 $203 $203 
2019— 158 234 242 242 
2020— — 184 284 290 
2021— — — 272 408 
2022— — — — 275 
Total$1,418 
All outstanding liabilities before 2018, net of recoverables— 
Liabilities for claims and claim adjustment expenses, net of recoverables$178 
Reconciliation of the net incurred claims and claims expense development
Reconciliation of the net incurred and paid claims development tables above to the reserve for property and casualty insurance claims and claims expense
($ in millions)As of December 31, 2022
Net outstanding liabilities
Allstate Protection
Auto insurance - liability coverage$17,382 
Auto insurance - physical damage coverage1,040 
Homeowners insurance3,459 
Other personal lines1,558 
Commercial lines1,857 
Protection Services
36 
Run-off Property-Liability (1)
1,370 
ULAE1,649 
Other (2)
14 
Net reserve for property and casualty insurance claims and claims expense28,365 
Recoverables
Allstate Protection
Auto insurance - liability coverage7,214 
Auto insurance - physical damage coverage44 
Homeowners insurance666 
Other personal lines320 
Commercial lines292 
Protection Services
11 
Run-off Property-Liability503 
ULAE126 
Total recoverables9,176 
Gross reserve for property and casualty insurance claims and claims expense$37,541 
(1)Run-off Property-Liability includes business in run-off with most of the claims related to accident years more than 30 years ago. IBNR reserves represent $765 million of the total reserves as of December 31, 2022.
(2)Primarily related to the unamortized fair value adjustment related to the acquisition of National General.
Reconciliation of the net incurred and paid claims development tables above to the reserve for future policy benefits
($ in millions)As of December 31, 2022
Net outstanding liabilities
Group and individual accident and health short-duration contracts$178 
Other accident and health short-duration contracts31 
Long duration accident and health insurance592 
Long duration traditional life insurance and other324 
ULAE9 
Net reserve for future policy benefits1,134 
Recoverables
Group and individual accident and health short-duration contracts35 
Other accident and health short-duration contracts— 
Insurance lines other than short-duration104 
ULAE— 
Gross reserve for future policy benefits$1,273 
Average annual percentage payout of incurred claims by age, net of reinsurance
Average annual percentage payout of incurred claims by age, net of recoverables, as of December 31, 2022
1 year2 years3 years4 years5 years
Auto insurance – liability coverage
37.6 %28.7 %13.3 %8.5 %5.3 %
Average annual percentage payout of incurred claims by age, net of recoverables, as of December 31, 2022
1 year2 years3 years4 years5 years
Auto insurance – physical damage coverage
95.2 %4.4 %(0.3)%(1.5)%1.6 %
Average annual percentage payout of incurred claims by age, net of recoverables, as of December 31, 2022
1 year2 years3 years4 years5 years
Homeowners insurance72.0 %21.3 %2.9 %0.8 %0.8 %
Average annual percentage payout of incurred claims by age, net of recoverables, as of December 31, 2022
1 year2 years3 years4 years5 years
Group and individual accident and health63.0 %34.3 %2.1 %0.6 %— %
Contractholder funds activity
Contractholder funds activity
For the years ended December 31,
($ in millions)202220212020
Balance, beginning of year$908 $857 $915 
Deposits133 118 121 
Interest credited32 34 33 
Benefits(21)(41)(34)
Surrenders and partial withdrawals(28)(23)(61)
Contract charges(121)(107)(123)
Other adjustments(6)70 6 
Balance, end of year$897 $908 $857