v3.26.3
Allowance for Expected Credit Losses
 9 Months Ended
Sep. 30, 2026
Credit Loss [Abstract]  
Allowance for Expected Credit Losses ALLOWANCE FOR EXPECTED CREDIT LOSSES
Premiums Receivable
The following tables present the balances of premiums receivable, net of the allowance for expected credit losses, as of September 30, 2026 and 2025, and the changes in the allowance for expected credit losses for the three and nine months ended September 30, 2026 and 2025.
As of and For the Three Months Ended September 30, 2026As of and For the Three Months Ended September 30, 2025
(in millions)Premiums Receivable, Net of Allowance for Expected Credit LossesAllowance for Expected Credit LossesPremiums Receivable, Net of Allowance for Expected Credit LossesAllowance for Expected Credit Losses
Balance, beginning of period$12,382 $61 $12,042 $61 
Current period change for expected credit losses24 13 
Write-offs of uncollectible premiums receivable16 16 
Balance, end of period$12,142 $69 $11,621 $58 
As of and For the Nine Months Ended September 30, 2026As of and For the Nine Months Ended September 30, 2025
(in millions)Premiums Receivable, Net of Allowance for Expected Credit LossesAllowance for Expected Credit LossesPremiums Receivable, Net of Allowance for Expected Credit LossesAllowance for Expected Credit Losses
Balance, beginning of period$10,992 $58 $11,110 $58 
Current period change for expected credit losses60 48 
Write-offs of uncollectible premiums receivable49 48 
Balance, end of period$12,142 $69 $11,621 $58 
Reinsurance Recoverables
The following tables present the balances of reinsurance recoverables, net of the allowance for estimated uncollectible reinsurance, as of September 30, 2026 and 2025, and the changes in the allowance for estimated uncollectible reinsurance for the three and nine months ended September 30, 2026 and 2025.
As of and For the Three Months Ended September 30, 2026As of and For the Three Months Ended September 30, 2025
(in millions)Reinsurance Recoverables, Net of Allowance for Estimated Uncollectible ReinsuranceAllowance for Estimated Uncollectible ReinsuranceReinsurance Recoverables, Net of Allowance for Estimated Uncollectible ReinsuranceAllowance for Estimated Uncollectible Reinsurance
Balance, beginning of period$8,009 $142 $8,059 $127 
Current period change for estimated uncollectible reinsurance— 14 
Write-offs of uncollectible reinsurance recoverables— — 
Balance, end of period$8,078 $142 $8,298 $141 
As of and For the Nine Months Ended September 30, 2026As of and For the Nine Months Ended September 30, 2025
(in millions)Reinsurance Recoverables, Net of Allowance for Estimated Uncollectible ReinsuranceAllowance for Estimated Uncollectible ReinsuranceReinsurance Recoverables, Net of Allowance for Estimated Uncollectible ReinsuranceAllowance for Estimated Uncollectible Reinsurance
Balance, beginning of period$7,886 $129 $8,000 $119 
Current period change for estimated uncollectible reinsurance13 22 
Write-offs of uncollectible reinsurance recoverables— — 
Balance, end of period$8,078 $142 $8,298 $141 
Of the total reinsurance recoverables as of September 30, 2026, $6.21 billion, or 91%, were rated by A.M. Best Company, after deducting mandatory pools and associations and before allowances for estimated uncollectible reinsurance. The Company utilizes updated A.M. Best Company credit ratings on a quarterly basis when determining the allowance. Of the total rated by A.M. Best Company, 95% were rated A- or better. The remaining 9% of reinsurance recoverables comprised the following: 5% related to captive insurance companies, 1% related to the Company’s participation in voluntary pools and 3% were balances from other companies not rated by A.M. Best Company. Certain of the Company’s reinsurance recoverables are collateralized by letters of credit, funds held or trust agreements.
Contractholder Receivables
The following tables present the balances of contractholder receivables, net of the allowance for expected credit losses, as of September 30, 2026 and 2025, and the changes in the allowance for expected credit losses for the three and nine months ended September 30, 2026 and 2025.
As of and For the Three Months Ended September 30, 2026As of and For the Three Months Ended September 30, 2025
(in millions)Contractholder Receivables, Net of Allowance for Expected Credit LossesAllowance for Expected Credit LossesContractholder Receivables, Net of Allowance for Expected Credit LossesAllowance for Expected Credit Losses
Balance, beginning of period$3,076 $13 $3,095 $17 
Current period change for expected credit losses— — 
Write-offs of uncollectible contractholder receivables— — 
Balance, end of period$3,041 $13 $3,098 $17 

As of and For the Nine Months Ended September 30, 2026As of and For the Nine Months Ended September 30, 2025
(in millions)Contractholder Receivables, Net of Allowance for Expected Credit LossesAllowance for Expected Credit LossesContractholder Receivables, Net of Allowance for Expected Credit LossesAllowance for Expected Credit Losses
Balance, beginning of period$3,010 $16 $3,171 $18 
Current period change for expected credit losses(3)(1)
Write-offs of uncollectible contractholder receivables— — 
Balance, end of period$3,041 $13 $3,098 $17