v3.26.1
Unpaid losses and loss adjustment expenses (Tables)
6 Months Ended
Jun. 30, 2026
Insurance [Abstract]  
Schedule of liability for unpaid claims and claims adjustment expense

Reconciliations of the changes in unpaid losses and loss adjustment expenses (“LAE”) liabilities (“claim liabilities”), excluding liabilities under retroactive reinsurance contracts (see Note 14), follow (in millions).

 

2026

 

 

2025

 

Balance at the beginning of the year:

 

 

 

 

 

Gross liabilities

$

120,713

 

 

$

115,151

 

Reinsurance recoverable on unpaid losses

 

(4,456

)

 

 

(4,593

)

Net liabilities

 

116,257

 

 

 

110,558

 

Losses and LAE incurred:

 

 

 

 

 

Current accident year

 

29,517

 

 

 

28,607

 

Prior accident years

 

(1,467

)

 

 

(240

)

Total

 

28,050

 

 

 

28,367

 

Losses and LAE paid:

 

 

 

 

 

Current accident year

 

(9,571

)

 

 

(9,253

)

Prior accident years

 

(16,121

)

 

 

(16,283

)

Total

 

(25,692

)

 

 

(25,536

)

Foreign currency effect

 

25

 

 

 

712

 

Balance at June 30:

 

 

 

 

 

Net liabilities

 

118,640

 

 

 

114,101

 

Reinsurance recoverable on unpaid losses

 

4,235

 

 

 

4,687

 

Gross liabilities

$

122,875

 

 

$

118,788