XML 36 R25.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Unpaid losses and loss adjustment expenses | 12 Months Ended
--- | ---
Dec. 31, 2023
Insurance [Abstract] |
Unpaid losses and loss adjustment expenses | (16) Unpaid losses and loss adjustment expenses Reconciliations of the changes in unpaid losses and loss adjustment expenses (“claim liabilities”), excluding liabilities under retroactive reinsurance contracts (see Note 17), for each of the three years ended December 31, 2023 follows (in millions). Net liabilities of acquired businesses in 2022 were from the Alleghany acquisition. See Note 2.
| 2023 |  |  | 2022 |  |  | 2021 |
Balance at the beginning of the year: |  |  |  |  |  |  |  |
Gross liabilities | $ | 107,472 |  |  | $ | 86,664 |  |  | $ | 79,854 |
Reinsurance recoverable on unpaid losses |  | (5,025 | ) |  |  | (2,960 | ) |  |  | (2,912 | )
Net liabilities |  | 102,447 |  |  |  | 83,704 |  |  |  | 76,942 |
Incurred losses and loss adjustment expenses: |  |  |  |  |  |  |  |
Current accident year |  | 59,244 |  |  |  | 59,463 |  |  |  | 52,099 |
Prior accident years |  | (3,541 | ) |  |  | (2,672 | ) |  |  | (3,116 | )
Total |  | 55,703 |  |  |  | 56,791 |  |  |  | 48,983 |
Paid losses and loss adjustment expenses: |  |  |  |  |  |  |  |
Current accident year |  | (25,184 | ) |  |  | (27,236 | ) |  |  | (22,897 | )
Prior accident years |  | (27,065 | ) |  |  | (23,083 | ) |  |  | (18,904 | )
Total |  | (52,249 | ) |  |  | (50,319 | ) |  |  | (41,801 | )
Foreign currency effect |  | 288 |  |  |  | (508 | ) |  |  | (420 | )
Net liabilities of acquired businesses |  | — |  |  |  | 12,779 |  |  |  | — |
Balance at December 31: |  |  |  |  |  |  |  |
Net liabilities |  | 106,189 |  |  |  | 102,447 |  |  |  | 83,704 |
Reinsurance recoverable on unpaid losses |  | 4,893 |  |  |  | 5,025 |  |  |  | 2,960 |
Gross liabilities | $ | 111,082 |  |  | $ | 107,472 |  |  | $ | 86,664 |
Our claim liabilities under property and casualty insurance and reinsurance contracts are based upon estimates of the ultimate claim costs associated with claim occurrences as of the balance sheet date and include estimates for incurred-but-not-reported (“IBNR”) claims. Incurred losses and loss adjustment expenses shown in the preceding table related to insured events occurring in the current year (“current accident year”) and events occurring in all prior years (“prior accident years”). Incurred and paid losses and loss adjustment expenses are net of reinsurance recoveries. Current accident year incurred losses from significant catastrophe events (losses in excess of $150 million per event) were approximately $925 million in 2023, $3.1 billion in 2022 ($2.5 billion from Hurricane Ian) and $2.9 billion in 2021 ($1.5 billion from Hurricane Ida). Current accident year incurred losses for private passenger auto insurance declined in 2023 compared to 2022, reflecting lower claims frequencies and higher average claims severities and increased significantly in 2022 versus 2021, attributable to increases in claims frequencies and severities. Notes to Consolidated Financial Statements (16) Unpaid losses and loss adjustment expenses We recorded net reductions of estimated ultimate liabilities for prior accident years of $3.5 billion in 2023, $2.7 billion in 2022 and $3.1 billion in 2021, which produced corresponding reductions in incurred losses and loss adjustment expenses in those periods. These reductions, as percentages of the net liabilities at the beginning of each year, were 3.5% in 2023, 3.2% in 2022 and 4.0% in 2021. We reduced estimated ultimate liabilities for prior accident years of primary insurance businesses by $2.1 billion in 2023, $1.1 billion in 2022 and $2.4 billion in 2021. The reductions in each year derived from private passenger auto, medical professional liability, and property claims. Estimated ultimate liabilities for prior accident years of property and casualty reinsurance businesses were reduced $1.4 billion in 2023, $1.6 billion in 2022 and $718 million in 2021. The reductions in each year reflected reduced estimates from both property and casualty claims. Estimated net claim liabilities for environmental and asbestos exposures, excluding liabilities under retroactive reinsurance contracts, were approximately $2.0 billion at December 31, 2023 and $2.1 billion at December 31, 2022. These liabilities are subject to change due to changes in the legal and regulatory environment, among other factors. We are unable to reliably estimate additional losses or a range of losses that are reasonably possible to arise from these factors. Disaggregated information concerning our claim liabilities is provided below and in the pages that follow. In this discussion, “claim-tail” refers to the period between the claim occurrence date and claim settlement or payment date. A reconciliation of the disaggregated net unpaid losses and allocated loss adjustment expenses (the latter referred to as “ALAE”) to our consolidated claim liabilities as of December 31, 2023 follows (in millions).
| GEICO |  |  | BH Primary |  |  | BHRG |  |  |  |
| Physical Damage |  |  | Auto Liability |  |  | Medical Professional Liability |  |  | Workers’ Compensation/ Other Casualty |  |  | Property |  |  | Casualty |  |  | Total |
Unpaid losses and ALAE, net | $ | 737 |  |  | $ | 20,477 |  |  | $ | 9,166 |  |  | $ | 21,230 |  |  | $ | 16,499 |  |  | $ | 32,393 |  |  | $ | 100,502 |
Reinsurance recoverable |  | 4 |  |  |  | 900 |  |  |  | 26 |  |  |  | 1,547 |  |  |  | 689 |  |  |  | 1,481 |  |  |  | 4,647 |
Unallocated loss adjustment expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,467 |
Other losses and loss adjustment expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,466 |
Unpaid losses and loss adjustment expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 111,082 |
GEICO GEICO’s claim liabilities predominantly relate to various types of private passenger auto liability and physical damage claims. For such claims, we establish and evaluate unpaid claim liabilities using standard actuarial loss development methods and techniques. The actuarial methods utilize historical claims data, adjusted when deemed appropriate to reflect perceived changes in loss patterns. Claim liabilities include average, case, case development and IBNR estimates. We establish average liabilities based on expected severities for newly reported physical damage and liability claims prior to establishing individual case reserves when insufficient time or information is available for specific claim estimates and for large volumes of minor physical damage claims that are quickly settled. We establish case loss estimates for liability claims, including estimates for loss adjustment expenses based on the facts and merits of the claim. Claim estimates for liability coverages normally reflect greater uncertainty than for physical damage coverages, primarily due to the longer claim-tails, the greater chance of litigation and the time needed to evaluate facts at the time the case estimate is first established. Consequently, we establish additional case development liabilities, which are usually percentages of the case liabilities. For unreported claims, IBNR claim liabilities are estimated by projecting the ultimate number of claims expected (reported and unreported) for each significant coverage based on historical data, from which reported claims are deducted to produce the estimated number of unreported claims. The product of the average cost per unreported claim and the number of unreported claims produces the IBNR liability estimate. We may record supplemental IBNR liabilities in certain situations when actuarial techniques are difficult to apply. Notes to Consolidated Financial Statements (16) Unpaid losses and loss adjustment expenses GEICO’s net incurred and paid auto physical damage and liability losses and ALAE are summarized by accident year below. IBNR and case development liabilities are as of December 31, 2023 and are net of estimated salvage and subrogation recoveries. Claim counts are established when accidents that could result in a liability are reported and are based on policy coverage. Each claim event may generate claims under multiple coverages and may result in multiple counts. The “Cumulative Number of Reported Claims” includes the combined number of reported claims for all auto policy coverages. Dollars are in millions. Physical Damage
|  | Incurred Losses and ALAE through December 31, |  |  |  |  |  | Cumulative Number of |
Accident Year |  |  |  | 2022* |  |  | 2023 |  |  | IBNR and Case Development Liabilities |  |  | Reported Claims (in thousands) |
2022 |  |  |  | $ | 14,138 |  |  | $ | 13,699 |  |  | $ | (56 | ) |  |  | 9,161 |
2023 |  |  |  |  |  | 12,273 |  |  |  | (691 | ) |  |  | 7,295 |
|  | Incurred losses and ALAE |  |  | $ | 25,972 |  |  |  |  |  |  |
|  | Cumulative Paid Losses and ALAE through December 31, |  |  |  |  |  |  |
Accident Year |  |  |  | 2022* |  |  | 2023 |  |  |  |  |  |  |
2022 |  |  |  | $ | 13,251 |  |  | $ | 13,731 |  |  |  |  |  |  |
2023 |  |  |  |  |  | 11,567 |  |  |  |  |  |  |
|  | Paid losses and ALAE |  |  |  | 25,298 |  |  |  |  |  |  |
|  | Net unpaid losses and ALAE for 2022 – 2023 accident years |  |  |  | 674 |  |  |  |  |  |  |
|  | Net unpaid losses and ALAE for accident years before 2022 |  |  |  | 63 |  |  |  |  |  |  |
|  | Net unpaid losses and ALAE |  |  | $ | 737 |  |  |  |  |  |  |
Auto Liability
|  | Incurred Losses and ALAE through December 31, |  |  |  |  |  | Cumulative Number of |
Accident Year |  | 2019* |  |  | 2020* |  |  | 2021* |  |  | 2022* |  |  | 2023 |  |  | IBNR and Case Development Liabilities |  |  | Reported Claims (in thousands) |
2019 |  | $ | 16,901 |  |  | $ | 16,678 |  |  | $ | 16,191 |  |  | $ | 16,151 |  |  | $ | 16,168 |  |  | $ | 348 |  |  |  | 2,797 |
2020 |  |  |  |  |  | 14,637 |  |  |  | 14,024 |  |  |  | 13,697 |  |  |  | 13,593 |  |  |  | 666 |  |  |  | 2,123 |
2021 |  |  |  |  |  |  |  |  | 17,481 |  |  |  | 17,457 |  |  |  | 17,229 |  |  |  | 1,559 |  |  |  | 2,446 |
2022 |  |  |  |  |  |  |  |  |  |  |  | 19,645 |  |  |  | 18,903 |  |  |  | 3,316 |  |  |  | 2,360 |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 17,948 |  |  |  | 5,567 |  |  |  | 1,804 |
|  | Incurred losses and ALAE |  |  | $ | 83,841 |  |  |  |  |  |  |
|  | Cumulative Paid Losses and ALAE through December 31, |  |  |  |  |  |  |
Accident Year |  | 2019* |  |  | 2020* |  |  | 2021* |  |  | 2022* |  |  | 2023 |  |  |  |  |  |  |
2019 |  | $ | 6,742 |  |  | $ | 11,671 |  |  | $ | 13,851 |  |  | $ | 15,084 |  |  | $ | 15,593 |  |  |  |  |  |  |
2020 |  |  |  |  |  | 5,395 |  |  |  | 9,839 |  |  |  | 11,794 |  |  |  | 12,608 |  |  |  |  |  |  |
2021 |  |  |  |  |  |  |  |  | 6,450 |  |  |  | 12,681 |  |  |  | 14,863 |  |  |  |  |  |  |
2022 |  |  |  |  |  |  |  |  |  |  |  | 7,614 |  |  |  | 13,838 |  |  |  |  |  |  |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,191 |  |  |  |  |  |  |
|  | Paid losses and ALAE |  |  |  | 64,093 |  |  |  |  |  |  |
|  | Net unpaid losses and ALAE for 2019 – 2023 accident years |  |  |  | 19,748 |  |  |  |  |  |  |
|  | Net unpaid losses and ALAE for accident years before 2019 |  |  |  | 729 |  |  |  |  |  |  |
|  | Net unpaid losses and ALAE |  |  | $ | 20,477 |  |  |  |  |  |  |
* Unaudited required supplemental information Notes to Consolidated Financial Statements (16) Unpaid losses and loss adjustment expenses BH Primary BH Primary’s liabilities for unpaid losses and loss adjustment expenses primarily derive from medical professional liability and workers’ compensation and other casualty insurance, which includes commercial auto and general liability insurance. Net incurred and paid losses and ALAE are summarized by accident year in the following tables, disaggregated by medical professional liability coverages and workers’ compensation and other casualty coverages. IBNR and case development liabilities are as of December 31, 2023. The cumulative number of reported claims reflects the number of individual claimants and includes claims that ultimately resulted in no liability or payment. Dollars are in millions. Medical Professional Liability We estimate the ultimate expected incurred losses and loss adjustment expenses for medical professional claim liabilities using a variety of commonly accepted actuarial methodologies, such as the paid and incurred development method and Bornhuetter-Ferguson based methods, as well as other techniques that consider insured loss exposures and historical and expected loss trends, among other factors. These methodologies produce loss estimates from which we determine our best estimate. In addition, we study developments in older accident years and adjust initial loss estimates to reflect recent developments based upon claim age, coverage and litigation experience.
|  | Incurred Losses and ALAE through December 31, |  |  |  |  |  | Cumulative Number of |
Accident Year |  | 2014* |  |  | 2015* |  |  | 2016* |  |  | 2017* |  |  | 2018* |  |  | 2019* |  |  | 2020* |  |  | 2021* |  |  | 2022* |  |  | 2023 |  |  | IBNR and Case Development Liabilities |  |  | Reported Claims (in thousands) |
2014 |  | $ | 1,370 |  |  | $ | 1,375 |  |  | $ | 1,305 |  |  | $ | 1,246 |  |  | $ | 1,218 |  |  | $ | 1,127 |  |  | $ | 1,061 |  |  | $ | 1,033 |  |  | $ | 1,029 |  |  | $ | 1,007 |  |  | $ | 45 |  |  |  | 11 |
2015 |  |  |  |  |  | 1,374 |  |  |  | 1,342 |  |  |  | 1,269 |  |  |  | 1,290 |  |  |  | 1,218 |  |  |  | 1,157 |  |  |  | 1,093 |  |  |  | 1,033 |  |  |  | 1,016 |  |  |  | 55 |  |  |  | 12 |
2016 |  |  |  |  |  |  |  |  | 1,392 |  |  |  | 1,416 |  |  |  | 1,414 |  |  |  | 1,394 |  |  |  | 1,341 |  |  |  | 1,288 |  |  |  | 1,216 |  |  |  | 1,188 |  |  |  | 105 |  |  |  | 15 |
2017 |  |  |  |  |  |  |  |  |  |  |  | 1,466 |  |  |  | 1,499 |  |  |  | 1,495 |  |  |  | 1,474 |  |  |  | 1,382 |  |  |  | 1,349 |  |  |  | 1,315 |  |  |  | 117 |  |  |  | 21 |
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,602 |  |  |  | 1,650 |  |  |  | 1,659 |  |  |  | 1,580 |  |  |  | 1,616 |  |  |  | 1,606 |  |  |  | 205 |  |  |  | 24 |
2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,670 |  |  |  | 1,691 |  |  |  | 1,663 |  |  |  | 1,614 |  |  |  | 1,534 |  |  |  | 320 |  |  |  | 21 |
2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,704 |  |  |  | 1,751 |  |  |  | 1,698 |  |  |  | 1,631 |  |  |  | 615 |  |  |  | 32 |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,852 |  |  |  | 1,855 |  |  |  | 1,787 |  |  |  | 1,053 |  |  |  | 25 |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,927 |  |  |  | 1,912 |  |  |  | 1,403 |  |  |  | 20 |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,964 |  |  |  | 1,781 |  |  |  | 17 |
|  | Incurred losses and ALAE |  |  | $ | 14,960 |  |  |  |  |  |  |
|  | Cumulative Paid Losses and ALAE through December 31, |  |  |  |  |  |  |
Accident Year |  | 2014* |  |  | 2015* |  |  | 2016* |  |  | 2017* |  |  | 2018* |  |  | 2019* |  |  | 2020* |  |  | 2021* |  |  | 2022* |  |  | 2023 |  |  |  |  |  |  |
2014 |  | $ | 21 |  |  | $ | 106 |  |  | $ | 238 |  |  | $ | 396 |  |  | $ | 540 |  |  | $ | 671 |  |  | $ | 752 |  |  | $ | 788 |  |  | $ | 840 |  |  | $ | 869 |  |  |  |  |  |  |
2015 |  |  |  |  |  | 23 |  |  |  | 108 |  |  |  | 218 |  |  |  | 382 |  |  |  | 543 |  |  |  | 663 |  |  |  | 719 |  |  |  | 799 |  |  |  | 843 |  |  |  |  |  |  |
2016 |  |  |  |  |  |  |  |  | 22 |  |  |  | 115 |  |  |  | 274 |  |  |  | 461 |  |  |  | 620 |  |  |  | 712 |  |  |  | 822 |  |  |  | 908 |  |  |  |  |  |  |
2017 |  |  |  |  |  |  |  |  |  |  |  | 27 |  |  |  | 128 |  |  |  | 300 |  |  |  | 457 |  |  |  | 582 |  |  |  | 739 |  |  |  | 877 |  |  |  |  |  |  |
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 35 |  |  |  | 166 |  |  |  | 367 |  |  |  | 543 |  |  |  | 728 |  |  |  | 949 |  |  |  |  |  |  |
2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 39 |  |  |  | 160 |  |  |  | 314 |  |  |  | 536 |  |  |  | 757 |  |  |  |  |  |  |
2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 34 |  |  |  | 148 |  |  |  | 321 |  |  |  | 531 |  |  |  |  |  |  |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 36 |  |  |  | 136 |  |  |  | 333 |  |  |  |  |  |  |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 38 |  |  |  | 182 |  |  |  |  |  |  |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 28 |  |  |  |  |  |  |
|  | Paid losses and ALAE |  |  |  | 6,277 |  |  |  |  |  |  |
|  | Net unpaid losses and ALAE for 2014 – 2023 accident years |  |  |  | 8,683 |  |  |  |  |  |  |
|  | Net unpaid losses and ALAE for accident years before 2014 |  |  |  | 483 |  |  |  |  |  |  |
|  | Net unpaid losses and ALAE |  |  | $ | 9,166 |  |  |  |  |  |  |
* Unaudited required supplemental information Notes to Consolidated Financial Statements (16) Unpaid losses and loss adjustment expenses Workers’ Compensation and Other Casualty We periodically evaluate ultimate loss and loss adjustment expense estimates for workers’ compensation and other casualty claims using a combination of commonly accepted actuarial methodologies such as the Bornhuetter-Ferguson and chain-ladder approaches using paid and incurred loss data. Paid and incurred loss data is segregated and analyzed by state due to the different state regulatory frameworks that may impact certain factors, including the duration and amount of loss payments. We also separately study the various components of liabilities, such as employee lost wages, medical expenses and the costs of claims investigations and administration. We establish case liabilities for reported claims based upon the facts and circumstances of the claim. The excess of the ultimate projected losses, including the expected development of case estimates, and the case-basis liabilities is included in IBNR liabilities.
|  | Incurred Losses and ALAE through December 31, |  |  |  |  |  | Cumulative Number of |
Accident Year |  | 2014* |  |  | 2015* |  |  | 2016* |  |  | 2017* |  |  | 2018* |  |  | 2019* |  |  | 2020* |  |  | 2021* |  |  | 2022* |  |  | 2023 |  |  | IBNR and Case Development Liabilities |  |  | Reported Claims (in thousands) |
2014 |  | $ | 2,138 |  |  | $ | 2,064 |  |  | $ | 2,036 |  |  | $ | 1,970 |  |  | $ | 1,901 |  |  | $ | 1,906 |  |  | $ | 1,875 |  |  | $ | 1,861 |  |  | $ | 1,829 |  |  | $ | 1,810 |  |  | $ | 115 |  |  |  | 103 |
2015 |  |  |  |  |  | 2,580 |  |  |  | 2,539 |  |  |  | 2,455 |  |  |  | 2,426 |  |  |  | 2,428 |  |  |  | 2,402 |  |  |  | 2,408 |  |  |  | 2,393 |  |  |  | 2,358 |  |  |  | 201 |  |  |  | 120 |
2016 |  |  |  |  |  |  |  |  | 2,931 |  |  |  | 2,848 |  |  |  | 2,793 |  |  |  | 2,772 |  |  |  | 2,815 |  |  |  | 2,825 |  |  |  | 2,864 |  |  |  | 2,840 |  |  |  | 361 |  |  |  | 125 |
2017 |  |  |  |  |  |  |  |  |  |  |  | 3,473 |  |  |  | 3,337 |  |  |  | 3,299 |  |  |  | 3,310 |  |  |  | 3,322 |  |  |  | 3,320 |  |  |  | 3,321 |  |  |  | 422 |  |  |  | 143 |
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,998 |  |  |  | 3,886 |  |  |  | 3,967 |  |  |  | 4,030 |  |  |  | 4,091 |  |  |  | 4,177 |  |  |  | 643 |  |  |  | 163 |
2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,584 |  |  |  | 4,623 |  |  |  | 4,692 |  |  |  | 4,763 |  |  |  | 4,847 |  |  |  | 867 |  |  |  | 184 |
2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5,030 |  |  |  | 4,881 |  |  |  | 4,775 |  |  |  | 4,774 |  |  |  | 1,467 |  |  |  | 156 |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5,899 |  |  |  | 5,856 |  |  |  | 5,882 |  |  |  | 2,455 |  |  |  | 316 |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,796 |  |  |  | 6,757 |  |  |  | 3,646 |  |  |  | 308 |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,299 |  |  |  | 5,187 |  |  |  | 132 |
|  | Incurred losses and ALAE |  |  | $ | 44,065 |  |  |  |  |  |  |
|  | Cumulative Paid Losses and ALAE through December 31, |  |  |  |  |  |  |
Accident Year |  | 2014* |  |  | 2015* |  |  | 2016* |  |  | 2017* |  |  | 2018* |  |  | 2019* |  |  | 2020* |  |  | 2021* |  |  | 2022* |  |  | 2023 |  |  |  |  |  |  |
2014 |  | $ | 286 |  |  | $ | 683 |  |  | $ | 1,002 |  |  | $ | 1,269 |  |  | $ | 1,407 |  |  | $ | 1,504 |  |  | $ | 1,557 |  |  | $ | 1,600 |  |  | $ | 1,617 |  |  | $ | 1,646 |  |  |  |  |  |  |
2015 |  |  |  |  |  | 329 |  |  |  | 804 |  |  |  | 1,187 |  |  |  | 1,507 |  |  |  | 1,766 |  |  |  | 1,873 |  |  |  | 1,966 |  |  |  | 2,041 |  |  |  | 2,070 |  |  |  |  |  |  |
2016 |  |  |  |  |  |  |  |  | 373 |  |  |  | 908 |  |  |  | 1,359 |  |  |  | 1,765 |  |  |  | 1,998 |  |  |  | 2,140 |  |  |  | 2,303 |  |  |  | 2,377 |  |  |  |  |  |  |
2017 |  |  |  |  |  |  |  |  |  |  |  | 480 |  |  |  | 1,133 |  |  |  | 1,645 |  |  |  | 2,050 |  |  |  | 2,279 |  |  |  | 2,492 |  |  |  | 2,673 |  |  |  |  |  |  |
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 583 |  |  |  | 1,340 |  |  |  | 1,902 |  |  |  | 2,324 |  |  |  | 2,746 |  |  |  | 3,120 |  |  |  |  |  |  |
2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 725 |  |  |  | 1,598 |  |  |  | 2,214 |  |  |  | 2,898 |  |  |  | 3,430 |  |  |  |  |  |  |
2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 736 |  |  |  | 1,498 |  |  |  | 2,066 |  |  |  | 2,598 |  |  |  |  |  |  |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 869 |  |  |  | 1,751 |  |  |  | 2,440 |  |  |  |  |  |  |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 962 |  |  |  | 2,012 |  |  |  |  |  |  |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,056 |  |  |  |  |  |  |
|  | Paid losses and ALAE |  |  |  | 23,422 |  |  |  |  |  |  |
|  | Net unpaid losses and ALAE for 2014 – 2023 accident years |  |  |  | 20,643 |  |  |  |  |  |  |
|  | Net unpaid losses and ALAE for accident years before 2014 |  |  |  | 587 |  |  |  |  |  |  |
|  | Net unpaid losses and ALAE |  |  | $ | 21,230 |  |  |  |  |  |  |
* Unaudited required supplemental information BHRG We use a variety of methodologies to establish BHRG’s estimates for property and casualty claim liabilities. These methodologies include paid and incurred loss development techniques, incurred and paid loss Bornhuetter-Ferguson techniques and frequency and severity techniques, as well as ground-up techniques when appropriate. Notes to Consolidated Financial Statements (16) Unpaid losses and loss adjustment expenses Our claim liabilities are principally a function of reported losses from ceding companies, case development and IBNR liability estimates. Case loss estimates are reported either individually or in bulk as provided under the terms of the contracts. We may independently evaluate case losses reported by the ceding company, and if deemed appropriate, establish additional case liabilities based on our estimates. Estimated IBNR liabilities are affected by expected case loss emergence patterns and expected loss ratios, which are evaluated as groups of contracts with similar exposures or on a contract-by-contract basis. Estimated case and IBNR liabilities for major catastrophe events are generally based on a per-contract assessment of the ultimate cost associated with the individual loss event. Claim count data is not provided consistently by ceding companies under our contracts or is otherwise considered unreliable. Net incurred and paid losses and ALAE of BHRG are disaggregated based on losses that are expected to have shorter claim-tails (property) and losses expected to have longer claim-tails (casualty). Under certain contracts, the coverage can apply to multiple lines of business written by the ceding company, whether property, casualty or combined, and the ceding company may not report loss data by such lines consistently, if at all. In those instances, we allocated losses to property and casualty coverages based on internal estimates. BHRG’s disaggregated incurred and paid losses and ALAE are summarized by accident year. IBNR and case development liabilities are as of December 31, 2023. Dollars are in millions. Property
|  | Incurred Losses and ALAE through December 31, |  |  |  |
Accident Year |  | 2014* |  |  | 2015* |  |  | 2016* |  |  | 2017* |  |  | 2018* |  |  | 2019* |  |  | 2020* |  |  | 2021* |  |  | 2022* |  |  | 2023 |  |  | IBNR and Case Development Liabilities |
2014 |  | $ | 3,095 |  |  | $ | 2,849 |  |  | $ | 2,725 |  |  | $ | 2,567 |  |  | $ | 2,508 |  |  | $ | 2,432 |  |  | $ | 2,400 |  |  | $ | 2,393 |  |  | $ | 2,373 |  |  | $ | 2,376 |  |  | $ | 27 |
2015 |  |  |  |  |  | 3,605 |  |  |  | 3,414 |  |  |  | 2,847 |  |  |  | 3,237 |  |  |  | 3,232 |  |  |  | 3,253 |  |  |  | 3,255 |  |  |  | 3,248 |  |  |  | 3,272 |  |  |  | 60 |
2016 |  |  |  |  |  |  |  |  | 3,926 |  |  |  | 4,515 |  |  |  | 4,192 |  |  |  | 4,155 |  |  |  | 4,150 |  |  |  | 4,139 |  |  |  | 4,117 |  |  |  | 4,106 |  |  |  | 26 |
2017 |  |  |  |  |  |  |  |  |  |  |  | 6,397 |  |  |  | 6,096 |  |  |  | 5,918 |  |  |  | 5,791 |  |  |  | 5,713 |  |  |  | 5,631 |  |  |  | 5,612 |  |  |  | 64 |
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5,486 |  |  |  | 5,579 |  |  |  | 5,437 |  |  |  | 5,293 |  |  |  | 5,299 |  |  |  | 5,249 |  |  |  | 172 |
2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,986 |  |  |  | 5,129 |  |  |  | 4,901 |  |  |  | 4,574 |  |  |  | 4,527 |  |  |  | 162 |
2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,928 |  |  |  | 7,208 |  |  |  | 6,876 |  |  |  | 6,657 |  |  |  | 610 |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,103 |  |  |  | 7,976 |  |  |  | 7,640 |  |  |  | 896 |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,880 |  |  |  | 8,453 |  |  |  | 2,228 |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,993 |  |  |  | 4,140 |
Incurred losses and ALAE |  |  | $ | 55,885 |  |  |  |
|  | Cumulative Paid Losses and ALAE through December 31, |  |  |  |
Accident Year |  | 2014* |  |  | 2015* |  |  | 2016* |  |  | 2017* |  |  | 2018* |  |  | 2019* |  |  | 2020* |  |  | 2021* |  |  | 2022* |  |  | 2023 |  |  |  |
2014 |  | $ | 572 |  |  | $ | 1,520 |  |  | $ | 1,899 |  |  | $ | 2,059 |  |  | $ | 2,135 |  |  | $ | 2,187 |  |  | $ | 2,218 |  |  | $ | 2,242 |  |  | $ | 2,272 |  |  | $ | 2,295 |  |  |  |
2015 |  |  |  |  |  | 671 |  |  |  | 1,804 |  |  |  | 2,210 |  |  |  | 2,429 |  |  |  | 2,538 |  |  |  | 2,721 |  |  |  | 2,807 |  |  |  | 2,860 |  |  |  | 2,933 |  |  |  |
2016 |  |  |  |  |  |  |  |  | 915 |  |  |  | 2,214 |  |  |  | 2,677 |  |  |  | 3,167 |  |  |  | 3,436 |  |  |  | 3,632 |  |  |  | 3,741 |  |  |  | 3,820 |  |  |  |
2017 |  |  |  |  |  |  |  |  |  |  |  | 1,348 |  |  |  | 3,508 |  |  |  | 4,583 |  |  |  | 4,936 |  |  |  | 5,171 |  |  |  | 5,364 |  |  |  | 5,454 |  |  |  |
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,208 |  |  |  | 3,093 |  |  |  | 3,735 |  |  |  | 4,020 |  |  |  | 4,265 |  |  |  | 4,473 |  |  |  |
2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,012 |  |  |  | 2,848 |  |  |  | 3,566 |  |  |  | 3,898 |  |  |  | 4,058 |  |  |  |
2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,255 |  |  |  | 3,584 |  |  |  | 4,634 |  |  |  | 5,298 |  |  |  |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,624 |  |  |  | 4,095 |  |  |  | 5,414 |  |  |  |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,814 |  |  |  | 4,333 |  |  |  |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,777 |  |  |  |
Paid losses and ALAE |  |  |  | 39,855 |  |  |  |
Net unpaid losses and ALAE for 2014 – 2023 accident years |  |  |  | 16,030 |  |  |  |
Net unpaid losses and ALAE for accident years before 2014 |  |  |  | 469 |  |  |  |
Net unpaid losses and ALAE |  |  | $ | 16,499 |  |  |  |
* Unaudited required supplemental information Notes to Consolidated Financial Statements (16) Unpaid losses and loss adjustment expenses Casualty
|  | Incurred Losses and ALAE through December 31, |  |  |  |
Accident Year |  | 2014* |  |  | 2015* |  |  | 2016* |  |  | 2017* |  |  | 2018* |  |  | 2019* |  |  | 2020* |  |  | 2021* |  |  | 2022* |  |  | 2023 |  |  | IBNR and Case Development Liabilities |
2014 |  | $ | 3,507 |  |  | $ | 3,672 |  |  | $ | 3,619 |  |  | $ | 3,557 |  |  | $ | 3,456 |  |  | $ | 3,472 |  |  | $ | 3,446 |  |  | $ | 3,334 |  |  | $ | 3,298 |  |  | $ | 3,265 |  |  | $ | 424 |
2015 |  |  |  |  |  | 3,422 |  |  |  | 3,628 |  |  |  | 3,668 |  |  |  | 3,580 |  |  |  | 3,438 |  |  |  | 3,401 |  |  |  | 3,364 |  |  |  | 3,310 |  |  |  | 3,312 |  |  |  | 373 |
2016 |  |  |  |  |  |  |  |  | 3,788 |  |  |  | 3,998 |  |  |  | 3,902 |  |  |  | 3,870 |  |  |  | 3,819 |  |  |  | 3,775 |  |  |  | 3,746 |  |  |  | 3,773 |  |  |  | 416 |
2017 |  |  |  |  |  |  |  |  |  |  |  | 4,039 |  |  |  | 4,474 |  |  |  | 4,351 |  |  |  | 4,244 |  |  |  | 4,176 |  |  |  | 4,165 |  |  |  | 4,222 |  |  |  | 547 |
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,886 |  |  |  | 5,537 |  |  |  | 5,489 |  |  |  | 5,358 |  |  |  | 5,285 |  |  |  | 5,370 |  |  |  | 756 |
2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5,572 |  |  |  | 6,043 |  |  |  | 5,902 |  |  |  | 5,736 |  |  |  | 5,695 |  |  |  | 1,228 |
2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,214 |  |  |  | 6,231 |  |  |  | 6,047 |  |  |  | 6,093 |  |  |  | 1,750 |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,310 |  |  |  | 6,285 |  |  |  | 5,957 |  |  |  | 2,299 |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,061 |  |  |  | 6,112 |  |  |  | 3,505 |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,071 |  |  |  | 4,656 |
|  | Incurred losses and ALAE |  |  | $ | 49,870 |  |  |  |
|  | Cumulative Paid Losses and ALAE through December 31, |  |  |  |
Accident Year |  | 2014* |  |  | 2015* |  |  | 2016* |  |  | 2017* |  |  | 2018* |  |  | 2019* |  |  | 2020* |  |  | 2021* |  |  | 2022* |  |  | 2023 |  |  |  |
2014 |  | $ | 429 |  |  | $ | 1,002 |  |  | $ | 1,390 |  |  | $ | 1,662 |  |  | $ | 1,917 |  |  | $ | 2,103 |  |  | $ | 2,311 |  |  | $ | 2,405 |  |  | $ | 2,493 |  |  | $ | 2,560 |  |  |  |
2015 |  |  |  |  |  | 446 |  |  |  | 995 |  |  |  | 1,431 |  |  |  | 1,731 |  |  |  | 2,003 |  |  |  | 2,197 |  |  |  | 2,345 |  |  |  | 2,481 |  |  |  | 2,590 |  |  |  |
2016 |  |  |  |  |  |  |  |  | 654 |  |  |  | 1,359 |  |  |  | 1,801 |  |  |  | 2,149 |  |  |  | 2,420 |  |  |  | 2,613 |  |  |  | 2,789 |  |  |  | 2,963 |  |  |  |
2017 |  |  |  |  |  |  |  |  |  |  |  | 607 |  |  |  | 1,311 |  |  |  | 1,829 |  |  |  | 2,478 |  |  |  | 2,727 |  |  |  | 2,945 |  |  |  | 3,171 |  |  |  |
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 695 |  |  |  | 1,742 |  |  |  | 2,792 |  |  |  | 3,258 |  |  |  | 3,637 |  |  |  | 3,954 |  |  |  |
2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 841 |  |  |  | 1,872 |  |  |  | 2,423 |  |  |  | 3,190 |  |  |  | 3,736 |  |  |  |
2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 868 |  |  |  | 1,905 |  |  |  | 2,715 |  |  |  | 3,379 |  |  |  |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 766 |  |  |  | 1,785 |  |  |  | 2,661 |  |  |  |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 622 |  |  |  | 1,338 |  |  |  |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 692 |  |  |  |
|  | Paid losses and ALAE |  |  |  | 27,044 |  |  |  |
|  | Net unpaid losses and ALAE for 2014 – 2023 accident years |  |  |  | 22,826 |  |  |  |
|  | Net unpaid losses and ALAE for accident years before 2014 |  |  |  | 9,567 |  |  |  |
|  | Net unpaid losses and ALAE |  |  | $ | 32,393 |  |  |  |
* Unaudited required supplemental information Required supplemental unaudited average historical claims duration information based on the net losses and ALAE incurred and paid accident year data in the preceding tables follows. The percentages show the average portions of net losses and ALAE paid by each succeeding year, with year 1 representing the current accident year.
Average Annual Percentage Payout of Incurred Losses by Age, Net of Reinsurance
In Year | 1 |  | 2 |  | 3 |  | 4 |  | 5 |  | 6 |  | 7 |  | 8 |  | 9 |  | 10
GEICO Physical Damage | 97% |  | 3% |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
GEICO Auto Liability | 41% |  | 31% |  | 13% |  | 7% |  | 4% |  |  |  |  |  |  |  |  |  |
BH Primary Medical Professional Liability | 2% |  | 8% |  | 12% |  | 14% |  | 13% |  | 12% |  | 8% |  | 6% |  | 5% |  | 3%
BH Primary Workers’ Compensation and Other Casualty | 15% |  | 18% |  | 14% |  | 13% |  | 9% |  | 6% |  | 5% |  | 3% |  | 1% |  | 2%
BHRG Property | 22% |  | 35% |  | 15% |  | 8% |  | 4% |  | 4% |  | 2% |  | 2% |  | 2% |  | 1%
BHRG Casualty | 14% |  | 17% |  | 13% |  | 11% |  | 8% |  | 6% |  | 5% |  | 4% |  | 3% |  | 2%

X
- References No definition available. + Details
Name: | us-gaap_InsuranceAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for liabilities related to future policy benefits and unpaid claims and claim adjustments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//944-40/tableOfContent + Details
Name: | us-gaap_LiabilityForFuturePolicyBenefitsAndUnpaidClaimsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration