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Unpaid losses and loss adjustment expenses (Tables)

9 Months Ended

Sep. 30, 2025

Insurance [Abstract]

Schedule of liability for unpaid claims and claims adjustment expense

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

	2025				2024
Balance at the beginning of the year:
Gross liabilities	$	115,151			$	111,082
Reinsurance recoverable on unpaid losses		(4,593	)			(4,893	)
Net liabilities		110,558				106,189
Losses and loss adjustment expenses incurred:
Current accident year		43,124				43,166
Prior accident years		(1,182	)			(992	)
Total		41,942				42,174
Losses and loss adjustment expenses paid:
Current accident year		(16,086	)			(16,011	)
Prior accident years		(22,165	)			(21,370	)
Total		(38,251	)			(37,381	)
Foreign currency effect		949				206
Balance at September 30:
Net liabilities		115,198				111,188
Reinsurance recoverable on unpaid losses		4,639				4,648
Gross liabilities	$	119,837			$	115,836

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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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