v3.25.2
Unpaid losses and loss adjustment expenses (Tables)
6 Months Ended
Jun. 30, 2025
Insurance [Abstract]  
Schedule of liability for unpaid claims and claims adjustment expense

Reconciliations of the changes in unpaid losses and loss adjustment expenses (“claim liabilities”), excluding liabilities under retroactive reinsurance contracts (see Note 14) follow (in millions).

 

2025

 

 

2024

 

Balance at the beginning of the year:

 

 

 

 

 

Gross liabilities

$

115,151

 

 

$

111,082

 

Reinsurance recoverable on unpaid losses

 

(4,593

)

 

 

(4,893

)

Net liabilities

 

110,558

 

 

 

106,189

 

Losses and loss adjustment expenses incurred:

 

 

 

 

 

Current accident year

 

28,607

 

 

 

28,359

 

Prior accident years

 

(240

)

 

 

(1,167

)

Total

 

28,367

 

 

 

27,192

 

Losses and loss adjustment expenses paid:

 

 

 

 

 

Current accident year

 

(9,253

)

 

 

(9,491

)

Prior accident years

 

(16,283

)

 

 

(15,626

)

Total

 

(25,536

)

 

 

(25,117

)

Foreign currency effect

 

712

 

 

 

(110

)

Balance at June 30:

 

 

 

 

 

Net liabilities

 

114,101

 

 

 

108,154

 

Reinsurance recoverable on unpaid losses

 

4,687

 

 

 

4,650

 

Gross liabilities

$

118,788

 

 

$

112,804