v3.26.1
Reserve for Losses and Loss Adjustment Expenses (Tables)
 6 Months Ended
Jun. 30, 2026
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]  
Analysis of losses and loss adjustment expenses and reconciliation of beginning and ending reserve balances
The following table represents an analysis of losses and loss adjustment expenses and a reconciliation of the beginning and ending reserve for losses and loss adjustment expenses:
Three Months EndedSix Months Ended
June 30,June 30,
2026202520262025
Reserve for losses and loss adjustment expenses at beginning of period
$34,105 $30,946 $33,547 $29,369 
Unpaid losses and loss adjustment expenses recoverable
9,142 8,379 9,054 7,821 
Net reserve for losses and loss adjustment expenses at beginning of period
24,963 22,567 24,493 21,548 
Net incurred losses and loss adjustment expenses relating to losses occurring in:
Current year
2,365 2,456 4,674 5,240 
Prior years
(169)(153)(389)(350)
Total net incurred losses and loss adjustment expenses
2,196 2,303 4,285 4,890 
Net losses and loss adjustment expense reserves of acquired businesses (1) — 50 — 50 
Net foreign exchange (gains) losses and other
2 400 (68)593 
Net paid losses and loss adjustment expenses relating to losses occurring in:
Current year
(269)(424)(329)(865)
Prior years
(1,428)(1,320)(2,917)(2,640)
Total net paid losses and loss adjustment expenses
(1,697)(1,744)(3,246)(3,505)
Net reserve for losses and loss adjustment expenses at end of period
25,464 23,576 25,464 23,576 
Unpaid losses and loss adjustment expenses recoverable
9,311 8,513 9,311 8,513 
Reserve for losses and loss adjustment expenses at end of period
$34,775 $32,089 $34,775 $32,089 
(1) Activity in the 2025 periods related to the MCE Acquisition (see note 2).
Summary of (favorable) adverse net PYD by segment and tail length The table below summarizes (favorable) and adverse net PYD by segment and tail length:
Three Months EndedSix Months Ended
(Favorable) AdverseJune 30,June 30,
2026Short-tailedLong-tailedTotalShort-tailedLong-tailedTotal
Insurance$(33)$6 $(27)$(43)$2 $(41)
Reinsurance(123)26 (97)(295)46 (249)
Mortgage(45)— (45)(99)— (99)
Total$(201)$32 $(169)$(437)$48 $(389)
2025
Insurance$(13)$5 $(8)$(28)$3 $(25)
Reinsurance(75)(6)(81)(202)2 (200)
Mortgage(64)— (64)(125)— (125)
Total$(152)$(1)$(153)$(355)$5 $(350)