v3.26.1
Claim and Claim Adjustment Expense Reserves (Tables)
 6 Months Ended
Jun. 30, 2026
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
20262025
(In millions)
Reserves, beginning of year:
Gross$26,599 $24,976 
Ceded5,982 5,713 
Net reserves, beginning of year20,617 19,263 
Net incurred claim and claim adjustment expenses:
Provision for insured events of current year3,534 3,309 
Increase (decrease) in provision for insured events of prior years192 189 
Amortization of discount19 20 
Total net incurred (a)
3,745 3,518 
Net payments attributable to:
Current year events(345)(316)
Prior year events(2,499)(2,391)
Total net payments(2,844)(2,707)
Foreign currency translation adjustment and other(70)199 
Net reserves, end of period21,448 20,273 
Ceded reserves, end of period6,042 5,930 
Gross reserves, end of period$27,490 $26,203 

(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,
2026202520262025
(In millions)
Other professional liability and management liability$25 $18 $70 $18 
Surety(26)(22)(26)(22)
Warranty10 
Commercial auto50 
General liability56 62 111 62 
Workers’ compensation(32)(66)(32)(65)
Other property and casualty operations(29)4 (29)4 
Total property & casualty operations(6)(4)94 57 
Other insurance operations97 112 97 134 
Total pretax unfavorable development$91 $108 $191 $191