v3.25.2
Claim and Claim Adjustment Expense Reserves (Tables)
 6 Months Ended
Jun. 30, 2025
Insurance [Abstract]  
Schedule of Reconciliation of Claim and Claim Adjustment Expense Reserves
The following table presents a reconciliation between beginning and ending claim and claim adjustment expense reserves.

Six Months Ended June 30
20252024
(In millions)  
   
Reserves, beginning of year:  
Gross$24,976 $23,304 
Ceded5,713 5,141 
Net reserves, beginning of year19,263 18,163 
 
Net incurred claim and claim adjustment expenses:
Provision for insured events of current year3,309 3,039 
Increase (decrease) in provision for insured events of prior years189 19 
Amortization of discount20 20 
Total net incurred (a)
3,518 3,078 
 
Net payments attributable to:
Current year events(316)(308)
Prior year events(2,391)(2,259)
Total net payments(2,707)(2,567)
 
Foreign currency translation adjustment and other199 (58)
 
Net reserves, end of period20,273 18,616 
Ceded reserves, end of period5,930 5,358 
Gross reserves, end of period$26,203 $23,974 

(a)Total net incurred does not agree to Insurance claims and policyholders’ benefits as reflected on the Consolidated Condensed Statements of Operations due to amounts related to retroactive reinsurance deferred gain accounting, uncollectible reinsurance and benefit expenses related to future policy benefits and policyholders’ dividends, which are not reflected in the table above.
Schedule of Net Prior Year Loss Reserve Development in Property and Casualty Operations
The following table and discussion present details of the net prior year loss reserve development in Property & Casualty Operations and Other Insurance Operations:

Three Months EndedSix Months Ended
June 30,June 30,
2025202420252024
(In millions)  
   
Medical professional liability$(2)$(2)
Other professional liability and management liability$18 17 $18 17 
Surety(22)(8)(22)(26)
Warranty10 13 
Commercial auto21 50 21 
General liability62 19 62 19 
Workers’ compensation(66)(47)(65)(49)
Other property and casualty operations4 (12)4 (12)
Total property & casualty operations(4)(12)57 (19)
Other insurance operations112 35 134 35 
Total pretax (favorable) unfavorable development$108 $23 $191 $16