Reinsurance and Indemnification (Tables)

12 Months Ended

Dec. 31, 2022


Effects of reinsurance and indemnification on property and casualty premiums written and earned and accident and health insurance premiums and contract charges
	For the years ended December 31,
($ in millions)	2022		2021		2020
Property and casualty insurance premiums written
Direct	$	50,065	$	45,523	$	38,695
Assumed	245		213		105
Ceded	(1,824)		(1,736)		(1,142)
Property and casualty insurance premiums written, net of recoverables	$	48,486	$	44,000	$	37,658

Property and casualty insurance premiums earned
Direct	$	47,552	$	43,944	$	38,115
Assumed	221		178		99
Ceded	(1,869)		(1,904)		(1,141)
Property and casualty insurance premiums earned, net of recoverables	$	45,904	$	42,218	$	37,073

Accident and health insurance premiums and contract charges
Direct	$	1,840	$	1,878	$	1,093
Assumed	31		21		14
Ceded	(38)		(78)		(13)
Accident and health insurance premiums and contract charges, net of recoverables	$	1,833	$	1,821	$	1,094


Reinsurance and indemnification recoverables, net
	As of December 31,
($ in millions)	2022		2021
Property and casualty
Paid and due from reinsurers and indemnitors	$	291	$	391
Unpaid losses estimated (including IBNR)	9,176		9,479
Total property and casualty	$	9,467	$	9,870
Accident and health insurance	139		154
Total	$	9,606	$	10,024


Rollforward of credit loss allowance for reinsurance recoverables
	For the years ended December 31,
($ in millions)	2022		2021
Property and casualty (1) (2)
Beginning balance	$	(66)	$	(59)
Increase in the provision for credit losses	(5)		(8)
Write-offs	9		1
Ending balance	$	(62)	$	(66)

Accident and health insurance
Beginning balance	$	(8)	$	(1)

Decrease/(Increase) in the provision for credit losses	5		(7)
Write-offs	—		—
Ending Balance	$	(3)	$	(8)

(1)Primarily related to Run-off Property-Liability reinsurance ceded.

(2)Indemnification recoverables are considered collectible based on the industry pool and facility enabling legislation.