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LIABILITY FOR UNPAID CLAIMS AND CLAIM ADJUSTMENT EXPENSES (Tables)

6 Months Ended

Jun. 30, 2025

Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]

Schedule of Information on Liability for Unpaid Claims

Information regarding the liability for unpaid claims is shown below:

AS OF AND FOR THE SIX MONTHS ENDED JUN. 30 US$ MILLIONS						2025						2024
Policy and contract claims, beginning						$	7,659					$	7,288
Less: Unpaid claims balance, beginning – long-duration						219						198
Gross unpaid claims balance, beginning – short-duration						7,440						7,090
Less: Reinsurance recoverables, beginning						3,083						3,045
Less: Foreign currency translation						1						4
Net balance, beginning – short-duration						4,356						4,041
Add: incurred related to
Current accident year						896						1,177
Prior accident years						20						34
Total incurred claims						916						1,211
Less: paid claims related to
Current accident year						296						306
Prior accident years						655						776
Total paid claims						951						1,082
Net unpaid claims balance, ending – short-duration						4,321						4,170
Add: Foreign currency translation						1						2
Add: Reinsurance recoverables, ending						2,945						3,026
Gross unpaid claims balance, ending – short-duration						7,267						7,198
Add: Unpaid claims balance, ending – long-duration						253						199
Policy and contract claims, ending						$	7,520					$	7,397

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- References

No definition available.

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- Definition

Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480081/944-40-50-3

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