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

9 Months Ended

Sep. 30, 2023

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


Rollforward of the reserve for property and casualty insurance claims and claims expense
	Nine months ended September 30,
($ in millions)	2023		2022
Balance as of January 1	$	37,541	$	33,060
Less recoverables (1)	(9,176)		(9,479)
Net balance as of January 1	28,365		23,581

Incurred claims and claims expense related to:
Current year	31,910		25,792
Prior years	380		1,470
Total incurred	32,290		27,262
Claims and claims expense paid related to:
Current year	(16,593)		(14,020)
Prior years	(12,057)		(9,850)
Total paid	(28,650)		(23,870)
Net balance as of September 30	32,005		26,973
Plus recoverables	8,654		9,556
Balance as of September 30	$	40,659	$	36,529

(1)Recoverables comprises reinsurance and indemnification recoverables.


Prior year reserve reestimates included in claims and claims expense (1)
	Non-catastrophe losses				Catastrophe losses				Total
($ in millions)	2023		2022		2023		2022		2023		2022
Three months ended September 30,
Auto	$	27	$	643	$	6	$	(11)	$	33	$	632
Homeowners	46		50		16		3		62		53
Other personal lines	(3)		(2)		(11)		(3)		(14)		(5)
Commercial lines	13		63		6		1		19		64
Other business lines	1		1		—		1		1		2
Run-off Property-Liability (2)	82		120		—		—		82		120
Protection Services	—		—		—		—		—		—
Total prior year reserve reestimates	$	166	$	875	$	17	$	(9)	$	183	$	866

Nine months ended September 30,
Auto	$	146	$	1,069	$	(41)	$	(58)	$	105	$	1,011
Homeowners	75		104		61		77		136		181
Other personal lines	15		(18)		(23)		4		(8)		(14)
Commercial lines	42		174		9		1		51		175
Other business lines	12		(9)		—		5		12		(4)
Run-off Property-Liability (2)	85		124		—		—		85		124
Protection Services	(1)		(3)		—		—		(1)		(3)
Total prior year reserve reestimates	$	374	$	1,441	$	6	$	29	$	380	$	1,470

(1)Favorable reserve reestimates are shown in parentheses.

(2)The Company’s 2023 and 2022 annual reserve reviews, using established industry and actuarial practices, resulted in unfavorable reestimates of $80 million and $118 million, respectively.