v3.26.1
Allowance for Expected Credit Losses
 3 Months Ended
Mar. 31, 2026
Credit Loss [Abstract]  
Allowance for Expected Credit Losses ALLOWANCE FOR EXPECTED CREDIT LOSSES
Premiums Receivable
The following table presents the balances of premiums receivable, net of the allowance for expected credit losses, as of March 31, 2026 and 2025, and the changes in the allowance for expected credit losses for the three months ended March 31, 2026 and 2025.
As of and For the Three Months Ended March 31, 2026As of and For the Three Months Ended March 31, 2025
(in millions)Premiums Receivable, Net of Allowance for Expected Credit LossesAllowance for Expected Credit LossesPremiums Receivable, Net of Allowance for Expected Credit LossesAllowance for Expected Credit Losses
 
Balance, beginning of period$10,992 $58 $11,110 $58 
Current period change for expected credit losses18 16 
Write-offs of uncollectible premiums receivable16 16 
Balance, end of period$11,423 $60 $11,575 $58 
Reinsurance Recoverables
The following table presents the balances of reinsurance recoverables, net of the allowance for estimated uncollectible reinsurance, as of March 31, 2026 and 2025, and the changes in the allowance for estimated uncollectible reinsurance for the three months ended March 31, 2026 and 2025.
As of and For the Three Months Ended March 31, 2026As of and For the Three Months Ended March 31, 2025
(in millions)Reinsurance Recoverables, Net of Allowance for Estimated Uncollectible ReinsuranceAllowance for Estimated Uncollectible ReinsuranceReinsurance Recoverables, Net of Allowance for Estimated Uncollectible ReinsuranceAllowance for Estimated Uncollectible Reinsurance
 
Balance, beginning of period$7,886 $129 $8,000 $119 
Current period change for estimated uncollectible reinsurance1 9 
Write-offs of uncollectible reinsurance recoverables— — 
Balance, end of period$7,988 $130 $8,105 $128 
Of the total reinsurance recoverables as of March 31, 2026, $5.97 billion, or 90%, were rated by A.M. Best Company, after deducting mandatory pools and associations and before allowances for estimated uncollectible reinsurance. The Company utilizes updated A.M. Best credit ratings on a quarterly basis when determining the allowance. Of the total rated by A.M. Best Company, 94% were rated A- or better. The remaining 10% of reinsurance recoverables comprised the following: 5% related to captive insurance companies, 1% related to the Company’s participation in voluntary pools and 4% were balances from other companies not rated by A.M. Best Company. Certain of the Company’s reinsurance recoverables are collateralized by letters of credit, funds held or trust agreements.
Contractholder Receivables
The following table presents the balances of contractholder receivables, net of the allowance for expected credit losses, as of March 31, 2026 and 2025, and the changes in the allowance for expected credit losses for the three months ended March 31, 2026 and 2025.
As of and For the Three Months Ended March 31, 2026As of and For the Three Months Ended March 31, 2025
(in millions)Contractholder Receivables, Net of Allowance for Expected Credit LossesAllowance for Expected Credit LossesContractholder Receivables, Net of Allowance for Expected Credit LossesAllowance for Expected Credit Losses
 
Balance, beginning of period$3,010 $16 $3,171 $18 
Current period change for expected credit losses(2)(1)
Write-offs of uncollectible contractholder receivables— — 
Balance, end of period$3,051 $14 $3,193 $17