v3.26.1
Unpaid Claims and Claims Expense Short Duration Contracts
 3 Months Ended
Mar. 31, 2026
Insurance [Abstract]  
Short-Duration Insurance and Deposit Contracts [Text Block] UNPAID CLAIMS AND CLAIM EXPENSE – SHORT-DURATION CONTRACTS
Rollforward of Claims and Claim Adjustment Expenses
The liability for unpaid claims for short-duration contracts is reported in other policy claims and benefits. Activity associated with unpaid claims is summarized below (dollars in millions):
Three months ended March 31,
20262025
Balance, beginning of year$3,011 $2,693 
Less: reinsurance recoverable(43)(53)
Net balance, beginning of year2,968 2,640 
Incurred:
Current year366 505 
Prior years(7)(13)
Total incurred359 492 
Payments:
Current year(28)(23)
Prior years(308)(307)
Total payments(336)(330)
Other:
Interest accretion11 9 
Foreign currency translation(1)1 
Total other10 10 
Net balance, end of period3,001 2,812 
Plus: reinsurance recoverable50 58 
Balance, end of period$3,051 $2,870 
Incurred claims associated with prior periods are primarily due to the development of claims for prior years being different than anticipated when the liabilities for unpaid claims were originally estimated. These trends have been considered in establishing the current year’s liability for unpaid claims.