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Unpaid Claims and Claim Expense Short Duration Contracts (Tables) | 12 Months Ended
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Dec. 31, 2023
Insurance [Abstract] |
Short-duration Insurance Contracts, Claims Development [Table Text Block] |
U.S. and Latin America |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | As of
(dollars in millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | December 31, 2023
Incurred Claims and Allocated Claim Adjustments, Net of Reinsurance (1) |  | Total of Incurred-but-Not-Reported Liabilities Plus Expected Development on Reported Claims
Accident Year |  | For the Years Ended December 31, |
| 2014 |  | 2015 |  | 2016 |  | 2017 |  | 2018 |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023 |
2014 |  | $ | 408 |  |  | $ | 411 |  |  | $ | 396 |  |  | $ | 397 |  |  | $ | 396 |  |  | $ | 399 |  |  | $ | 399 |  |  | $ | 401 |  |  | $ | 401 |  |  | $ | 402 |  |  | $ | — |
2015 |  |  |  | 460 |  |  | 461 |  |  | 465 |  |  | 462 |  |  | 462 |  |  | 463 |  |  | 463 |  |  | 464 |  |  | 464 |  |  | — |
2016 |  |  |  |  |  | 501 |  |  | 500 |  |  | 501 |  |  | 497 |  |  | 497 |  |  | 498 |  |  | 499 |  |  | 500 |  |  | — |
2017 |  |  |  |  |  |  |  | 485 |  |  | 514 |  |  | 509 |  |  | 504 |  |  | 503 |  |  | 504 |  |  | 503 |  |  | — |
2018 |  |  |  |  |  |  |  |  |  | 538 |  |  | 538 |  |  | 524 |  |  | 517 |  |  | 520 |  |  | 519 |  |  | — |
2019 |  |  |  |  |  |  |  |  |  |  |  | 491 |  |  | 473 |  |  | 456 |  |  | 453 |  |  | 453 |  |  | 2 |
2020 |  |  |  |  |  |  |  |  |  |  |  |  |  | 469 |  |  | 426 |  |  | 415 |  |  | 415 |  |  | 3 |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 509 |  |  | 492 |  |  | 493 |  |  | 4 |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 519 |  |  | 480 |  |  | 33 |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 543 |  |  | 240 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Total |  | $ | 4,772 |  |  |
Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net of Reinsurance (1) |  |
Accident Year |  | For the Years Ended December 31, |  |
| 2014 |  | 2015 |  | 2016 |  | 2017 |  | 2018 |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023 |  |
2014 |  | $ | 129 |  |  | $ | 305 |  |  | $ | 337 |  |  | $ | 349 |  |  | $ | 356 |  |  | $ | 364 |  |  | $ | 368 |  |  | $ | 374 |  |  | $ | 378 |  |  | $ | 382 |  |  |
2015 |  |  |  | 146 |  |  | 361 |  |  | 407 |  |  | 422 |  |  | 431 |  |  | 437 |  |  | 441 |  |  | 446 |  |  | 450 |  |  |
2016 |  |  |  |  |  | 185 |  |  | 393 |  |  | 437 |  |  | 451 |  |  | 460 |  |  | 467 |  |  | 472 |  |  | 477 |  |  |
2017 |  |  |  |  |  |  |  | 190 |  |  | 403 |  |  | 448 |  |  | 462 |  |  | 468 |  |  | 474 |  |  | 478 |  |  |
2018 |  |  |  |  |  |  |  |  |  | 183 |  |  | 415 |  |  | 465 |  |  | 479 |  |  | 489 |  |  | 494 |  |  |
2019 |  |  |  |  |  |  |  |  |  |  |  | 180 |  |  | 372 |  |  | 418 |  |  | 428 |  |  | 432 |  |  |
2020 |  |  |  |  |  |  |  |  |  |  |  |  |  | 159 |  |  | 356 |  |  | 388 |  |  | 394 |  |  |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 177 |  |  | 414 |  |  | 454 |  |  |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 182 |  |  | 395 |  |  |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 179 |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Total |  | 4,135 |  |  |
|  |  |  |  |  | All outstanding claims prior to 2014, net of reinsurance |  | 110 |  |  |
|  |  |  | Liabilities for claims and claim adjustment expense, net of reinsurance |  | $ | 747 |  |  |
(1)2014 – 2022 unaudited.
Asia Pacific |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | As of
(dollars in millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | December 31, 2023
Incurred Claims and Allocated Claim Adjustments, Net of Reinsurance (1) |  | Total of Incurred-but-Not-Reported Liabilities Plus Expected Development on Reported Claims
Accident Year |  | For the Years Ended December 31, |
| 2014 |  | 2015 |  | 2016 |  | 2017 |  | 2018 |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023 |
2014 |  | $ | 267 |  |  | $ | 290 |  |  | $ | 257 |  |  | $ | 262 |  |  | $ | 275 |  |  | $ | 277 |  |  | $ | 277 |  |  | $ | 276 |  |  | $ | 275 |  |  | $ | 276 |  |  | $ | 3 |
2015 |  |  |  | 269 |  |  | 249 |  |  | 242 |  |  | 258 |  |  | 258 |  |  | 258 |  |  | 258 |  |  | 258 |  |  | 259 |  |  | 4 |
2016 |  |  |  |  |  | 220 |  |  | 199 |  |  | 206 |  |  | 213 |  |  | 212 |  |  | 209 |  |  | 210 |  |  | 211 |  |  | 3 |
2017 |  |  |  |  |  |  |  | 205 |  |  | 207 |  |  | 207 |  |  | 210 |  |  | 198 |  |  | 196 |  |  | 198 |  |  | 2 |
2018 |  |  |  |  |  |  |  |  |  | 245 |  |  | 262 |  |  | 256 |  |  | 245 |  |  | 239 |  |  | 239 |  |  | 4 |
2019 |  |  |  |  |  |  |  |  |  |  |  | 245 |  |  | 253 |  |  | 260 |  |  | 251 |  |  | 253 |  |  | 8 |
2020 |  |  |  |  |  |  |  |  |  |  |  |  |  | 145 |  |  | 141 |  |  | 142 |  |  | 145 |  |  | 14 |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 67 |  |  | 61 |  |  | 61 |  |  | 7 |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 93 |  |  | 96 |  |  | 21 |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 131 |  |  | 76 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Total |  | $ | 1,869 |  |  |
Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net of Reinsurance (1) |  |
Accident Year |  | For the Years Ended December 31, |  |
| 2014 |  | 2015 |  | 2016 |  | 2017 |  | 2018 |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023 |  |
2014 |  | $ | 33 |  |  | $ | 131 |  |  | $ | 171 |  |  | $ | 199 |  |  | $ | 221 |  |  | $ | 234 |  |  | $ | 244 |  |  | $ | 251 |  |  | $ | 255 |  |  | $ | 259 |  |  |
2015 |  |  |  | 47 |  |  | 115 |  |  | 162 |  |  | 195 |  |  | 214 |  |  | 226 |  |  | 235 |  |  | 240 |  |  | 243 |  |  |
2016 |  |  |  |  |  | 37 |  |  | 94 |  |  | 129 |  |  | 148 |  |  | 161 |  |  | 172 |  |  | 180 |  |  | 187 |  |  |
2017 |  |  |  |  |  |  |  | 34 |  |  | 84 |  |  | 111 |  |  | 132 |  |  | 147 |  |  | 160 |  |  | 169 |  |  |
2018 |  |  |  |  |  |  |  |  |  | 31 |  |  | 103 |  |  | 142 |  |  | 171 |  |  | 191 |  |  | 206 |  |  |
2019 |  |  |  |  |  |  |  |  |  |  |  | 37 |  |  | 99 |  |  | 136 |  |  | 174 |  |  | 194 |  |  |
2020 |  |  |  |  |  |  |  |  |  |  |  |  |  | 22 |  |  | 53 |  |  | 80 |  |  | 95 |  |  |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8 |  |  | 23 |  |  | 34 |  |  |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 11 |  |  | 42 |  |  |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 22 |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Total |  | 1,451 |  |  |
|  |  |  |  |  | All outstanding claims prior to 2014, net of reinsurance |  | 91 |  |  |
|  |  |  |  |  | Liabilities for claims and claim adjustment expense, net of reinsurance |  | $ | 509 |  |  |
(1)2014 – 2022 unaudited.
Short-duration Insurance Contracts, Schedule of Historical Claims Duration [Table Text Block] | The following is unaudited supplementary information about average historical claims duration as of December 31, 2023:
Average Annual Payout of Incurred Claims by Age, Net of Reinsurance
Years |  | 1 |  | 2 |  | 3 |  | 4 |  | 5 |  | 6 |  | 7 |  | 8 |  | 9 |  | 10
U.S. and Latin America |  | 35.8 | % |  | 44.6 | % |  | 8.9 | % |  | 2.6 | % |  | 1.6 | % |  | 1.3 | % |  | 1.0 | % |  | 1.2 | % |  | 0.8 | % |  | 1.0 | %
Asia Pacific |  | 14.9 | % |  | 27.3 | % |  | 16.3 | % |  | 11.5 | % |  | 7.6 | % |  | 5.4 | % |  | 4.0 | % |  | 2.6 | % |  | 1.4 | % |  | 1.2 | %
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Table Text Block] | The reconciliation of the net incurred and paid claims development tables to the liability for claims and claim adjustment expense in the consolidated balance sheet as of December 31, 2023, is as follows (dollars in millions):
| 2023
Liabilities for claims and claim adjustment expense, net of reinsurance: |
U.S. and Latin America | $ | 747 |
Asia Pacific | 509 |
Liabilities for claims and claim adjustment expense, net of reinsurance | 1,256 |
Adjustments to reconcile to total policy claims: |
Reinsurance recoverable | 11 |
Effect of discounting | (103) |
Unallocated claims adjustment expense | 9 |
Total adjustments | (83) |
Other short-duration contracts not included in the tables above: |
U.S. and Latin America | 221 |
Canada | 378 |
Europe, Middle East and Africa | 833 |
Asia Pacific | 119 |
Corporate and Other | 6 |
Total liability for unpaid claims and claim adjustment expense | $ | 2,730 |
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block] | The liability for unpaid claims is reported in other policy claims and benefits on the Company’s consolidated balance sheets. Activity associated with unpaid claims is summarized below (dollars in millions):
|  | 2023 |  | 2022
Balance, beginning of year |  | $ | 2,480 |  |  | $ | 2,110 |
Less: reinsurance recoverable |  | (57) |  |  | (81) |
Net balance, beginning of year |  | 2,423 |  |  | 2,029 |
Incurred: |  |  |  |
Current year |  | 1,561 |  |  | 1,778 |
Prior years |  | (111) |  |  | (125) |
Total incurred |  | 1,450 |  |  | 1,653 |
Payments: |  |  |  |
Current year |  | (473) |  |  | (440) |
Prior years |  | (804) |  |  | (800) |
Total payments |  | (1,277) |  |  | (1,240) |
Other changes: |  |  |  |
Interest accretion |  | 39 |  |  | 34 |
Foreign exchange adjustments |  | 15 |  |  | (53) |
Total other changes |  | 54 |  |  | (19) |
Net balance, end of period |  | 2,650 |  |  | 2,423 |
Plus: reinsurance recoverable |  | 80 |  |  | 57 |
Balance, end of period |  | $ | 2,730 |  |  | $ | 2,480 |

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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://fasb.org/us-gaap/role/ref/legacyRef -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 + Details
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