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v3.25.2

Insurance Liabilities - Liability for Unpaid Losses and Loss Adjustment Expenses (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2025 | Jun. 30, 2024 | Jun. 30, 2025 | Jun. 30, 2024
Reconciliation of activity in the Liability for unpaid claims and claims adjustment expense: |  |  |  |
Liability for unpaid loss and loss adjustment expenses, beginning of period | $ 68,896 | $ 70,060 | $ 69,168 | $ 70,393
Reinsurance recoverable | (27,799) | (30,169) | (29,026) | (30,289)
Net Liability for unpaid loss and loss adjustment expenses, beginning of period | 41,097 | 39,891 | 40,142 | 40,104
Losses and loss adjustment expenses incurred: |  |  |  |
Current year | 3,523 | 3,546 | 7,332 | 6,911
Prior years, excluding discount and amortization of deferred gain | 25 | (108) | (8) | (108)
Prior years, discount charge (benefit) | 45 | 62 | 85 | 168
Prior years, amortization of deferred gain on retroactive reinsurance | (100) | (33) | (122) | (65)
Total losses and loss adjustment expenses incurred | 3,493 | 3,467 | 7,287 | 6,906
Losses and loss adjustment expenses paid: |  |  |  |
Current year | (1,023) | (855) | (1,452) | (1,141)
Prior years | (2,569) | (2,597) | (5,530) | (5,454)
Total losses and loss adjustment expenses paid | (3,592) | (3,452) | (6,982) | (6,595)
Other changes: |  |  |  |
Foreign exchange effect | 895 | (158) | 1,379 | (654)
Losses and loss adjustment expenses recognized within gain on divestitures | 15 | 0 | 47 | 0
Retroactive reinsurance adjustment (net of discount) | (20) | 186 | 15 | 178
Reclassified to held for sale, net of reinsurance recoverables | 0 | 0 | 0 | (5)
Total other changes | 890 | 28 | 1,441 | (481)
Net liability for unpaid losses and loss adjustment expenses | 41,888 | 39,934 | 41,888 | 39,934
Reinsurance recoverable | 27,866 | 29,849 | 27,866 | 29,849
Total | 69,754 | 69,783 | 69,754 | 69,783
Change in discount on loss reserves ceded under retroactive reinsurance | 19 | 23 | 20 | 78
National Indemnity Company |  |  |  |
Losses and loss adjustment expenses incurred: |  |  |  |
Prior years, amortization of deferred gain on retroactive reinsurance | $ 7 | $ 39 | $ 12 | $ 44

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- Definition The amount needed to reflect the estimated ultimate cost of settling claims relating to insured events that have occurred on or before the balance sheet date, whether or not reported to the insurer at that date. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 605 -Name Accounting Standards Codification -Section 55 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477548/944-605-55-11 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 55 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480046/944-40-55-7 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 55 -Paragraph 9E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480046/944-40-55-9E Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (cc) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-3 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(13)(a)(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1 + Details
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- Definition Amount, after effects of reinsurance, of payments to settle claims incurred in the current period and related claims settlement costs. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 55 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480046/944-40-55-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-3 + Details
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- Definition Amount of foreign currency gain (loss) which decreases (increases) the cost of settling unpaid claims after deduction of reinsurance recoveries. Includes, but is not limited to, claims which have been incurred but not reported. + References No definition available. + Details
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- Definition Liability as of the balance sheet date for amounts representing estimated cost of settling unpaid claims under the terms of the underlying insurance policies, less estimated reinsurance recoveries on such claims. This includes an estimate for claims which have been incurred but not reported. Claim adjustment expenses represent the costs estimated to be incurred in the settlement of unpaid claims. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(13)(a)(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (cc) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-3 + Details
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