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RESERVE FOR LOSSES, LAE AND FUTURE POLICY BENEFIT RESERVE - Summary of Activity in the Reserve for Losses and LAE (Details) - USD ($) $ in Millions | 3 Months Ended |  |
--- | --- | --- | ---
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward] |  |  |  |
Gross reserves beginning of period | $ 22,065 | $ 19,009 |  |
Less reinsurance recoverables on unpaid losses | 2,125 | 1,991 | $ 2,105 | $ 1,946
Net reserves beginning of period | 19,960 | 17,063 |  |
Incurred related to: |  |  |  |
Current year | 1,966 | 1,791 |  |
Prior years | 0 | (1) |  |
Total incurred losses and LAE | 1,966 | 1,790 |  |
Paid related to: |  |  |  |
Current year | 684 | 308 |  |
Prior years | 641 | 919 |  |
Total paid losses and LAE | 1,325 | 1,226 |  |
Foreign exchange/translation adjustment | 152 | (122) |  |
Net reserves end of period | 20,753 | 17,505 |  |
Plus reinsurance recoverables on unpaid losses | 2,125 | 1,991 | $ 2,105 | $ 1,946
Gross reserves end of period | $ 22,878 | $ 19,496 |  |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 3 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=116884095&loc=d3e14764-158437 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 3 -Subparagraph (cc) -URI https://asc.fasb.org/extlink&oid=116884095&loc=d3e14764-158437 + Details
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