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Unpaid losses and loss expenses Unpaid losses and loss expenses | 3 Months Ended
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Mar. 31, 2017
Liability for Claims and Claims Adjustment Expense [Abstract] |
Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block] | 5. Unpaid losses and loss expenses The following table presents a reconciliation of beginning and ending Unpaid losses and loss expenses:
| Three Months Ended March 31 |
(in millions of U.S. dollars) | 2017 |  |  | 2016 |
Gross unpaid losses and loss expenses – beginning of period |  | $ | 60,540 |  |  | $ | 37,303 |
Reinsurance recoverable on unpaid losses (1) |  | (12,708 | ) |  | (10,741 | )
Net unpaid losses and loss expenses – beginning of period |  | 47,832 |  |  | 26,562 |
Acquisition of subsidiaries |  | — |  |  | 21,363 |
Total |  | 47,832 |  |  | 47,925 |
Net losses and loss expenses incurred in respect of losses occurring in: |  |  |  |
Current year |  | 4,078 |  |  | 3,965 |
Prior years (2) |  | (289 | ) |  | (291 | )
Total |  | 3,789 |  |  | 3,674 |
Net losses and loss expenses paid in respect of losses occurring in: |  |  |  |
Current year |  | 798 |  |  | 586 |
Prior years |  | 3,109 |  |  | 2,963 |
Total |  | 3,907 |  |  | 3,549 |
Foreign currency revaluation and other |  | 54 |  |  | 29 |
Net unpaid losses and loss expenses – end of period |  | 47,768 |  |  | 48,079 |
Reinsurance recoverable on unpaid losses (1) |  | 12,811 |  |  | 12,127 |
Gross unpaid losses and loss expenses – end of period |  | $ | 60,579 |  |  | $ | 60,206 |
(1) Net of provision for uncollectible reinsurance. |  |
(2) Relates to prior period loss reserve development only and excludes prior period development related to reinstatement premiums, expense adjustments, and earned premiums.

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- 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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6482852&loc=d3e14931-158439 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=65670824&loc=d3e14754-158437 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.13(a)(1),(b)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65670824&loc=d3e14764-158437 + Details
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