v3.26.1
Unpaid Claims and Claims Expense Short Duration Contracts
 6 Months Ended
Jun. 30, 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):
Six months ended June 30,
20262025
Balance, beginning of year$3,011 $2,693 
Less: reinsurance recoverable(43)(53)
Net balance, beginning of year2,968 2,640 
Incurred:
Current year724 1,123 
Prior years(11)47 
Total incurred713 1,170 
Payments:
Current year(116)(163)
Prior years(606)(779)
Total payments(722)(942)
Other:
Interest accretion22 17 
Foreign currency translation(7)71 
Total other15 88 
Net balance, end of period2,974 2,956 
Plus: reinsurance recoverable44 60 
Balance, end of period$3,018 $3,016 
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.