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Reserve for Losses and Loss Adjustment Expenses (Tables)

9 Months Ended

Sep. 30, 2025

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

Analysis of losses and loss adjustment expenses and reconciliation of beginning and ending reserve balances

The following table represents an analysis of losses and loss adjustment expenses and a reconciliation of the beginning and ending reserve for losses and loss adjustment expenses:

			Three Months Ended												Nine Months Ended
			September 30,												September 30,
			2025						2024						2025						2024
Reserve for losses and loss adjustment expenses at beginning of period			$	32,089					$	24,466					$	29,369					$	22,752
Unpaid losses and loss adjustment expenses recoverable			8,513						7,083						7,821						6,690
Net reserve for losses and loss adjustment expenses at beginning of period			23,576						17,383						21,548						16,062
Net incurred losses and loss adjustment expenses relating to losses occurring in:
Current year			2,321						2,524						7,561						6,324
Prior years			(121)						(121)						(471)						(366)
Total net incurred losses and loss adjustment expenses			2,200						2,403						7,090						5,958
Net losses and loss adjustment expense reserves of acquired businesses (1)			—						2,413						50						2,463
Net foreign exchange (gains) losses and other			(52)						246						541						152
Net paid losses and loss adjustment expenses relating to losses occurring in:
Current year			(422)						(362)						(1,287)						(647)
Prior years			(1,147)						(967)						(3,787)						(2,872)
Total net paid losses and loss adjustment expenses			(1,569)						(1,329)						(5,074)						(3,519)
Net reserve for losses and loss adjustment expenses at end of period			24,155						21,116						24,155						21,116
Unpaid losses and loss adjustment expenses recoverable			8,667						7,563						8,667						7,563
Reserve for losses and loss adjustment expenses at end of period			$	32,822					$	28,679					$	32,822					$	28,679

(1)     Activity primarily related to the MCE Acquisition (see note 2).

Summary of (favorable) adverse net PYD by segment and tail length

The table below summarizes (favorable) and adverse net PYD by segment and tail length:

			Three Months Ended																		Nine Months Ended
(Favorable) Adverse			September 30,																		September 30,
2025			Short-tailed						Long-tailed						Total						Short-tailed						Long-tailed						Total
Insurance			$	(27)					$	13					$	(14)					$	(55)					$	16					$	(39)
Reinsurance			(75)						22						(53)						(277)						24						(253)
Mortgage			(54)						—						(54)						(179)						—						(179)
Total			$	(156)					$	35					$	(121)					$	(511)					$	40					$	(471)
2024
Insurance			$	(31)					$	15					$	(16)					$	(61)					$	30					$	(31)
Reinsurance			(68)						27						(41)						(158)						43						(115)
Mortgage			(64)						—						(64)						(220)						—						(220)
Total			$	(163)					$	42					$	(121)					$	(439)					$	73					$	(366)

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- References

No definition available.

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X

- Definition

Tabular disclosure of the reasons for the change in incurred claims and claim adjustment expenses recognized in the income statement attributable to insured events of prior fiscal years. Also includes disclosures of additional premiums or return premiums accrued as a result of changes in incurred claims and claim adjustment expenses.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 5.W)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479583/944-40-S99-1

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X

- 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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