v3.25.2
Insurance (Tables)
 6 Months Ended
Jun. 30, 2025
Insurance [Abstract]  
Reconciliation of beginning and ending liability for unpaid losses and loss adjustment expenses The following table provides an analysis of changes in the liability for losses and loss adjustment expenses during the first six months of 2025 and 2024 (in millions):
Six months ended June 30,
20252024
Balance at beginning of year$14,179 $13,087 
Less reinsurance recoverables, net of allowance4,957 4,288 
Net liability at beginning of year9,222 8,799 
Provision for losses and LAE occurring in the current period2,003 1,934 
Net decrease in the provision for claims of prior years
(31)(85)
Total losses and LAE incurred1,972 1,849 
Payments for losses and LAE of:
Current year(448)(425)
Prior years(1,450)(1,533)
Total payments(1,898)(1,958)
Foreign currency translation and other(10)(1)
Net liability at end of period9,286 8,689 
Add back reinsurance recoverables, net of allowance4,548 3,918 
Gross unpaid losses and LAE included in the balance sheet at end of period$13,834 $12,607 
Reinsurance recoverable and premiums receivable, allowance for credit loss Progressions of the 2025 and 2024 allowance for expected credit losses on recoverables from reinsurers and premiums receivable are shown below (in millions):
Recoverables from ReinsurersPremiums Receivable
2025202420252024
Balance at March 31$10 $10 $18 $15 
Provision (credit) for expected credit losses(1)— 1 4 
Write-offs charged against the allowance— — — (1)
Balance at June 30$9 $10 $19 $18 
Balance at December 31$11 $10 $19 $15 
Provision (credit) for expected credit losses(2)— — 4 
Write-offs charged against the allowance— — — (1)
Balance at June 30$9 $10 $19 $18