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Unpaid Claims and Claims Expense Short Duration Contracts
 3 Months Ended
Sep. 30, 2024
Insurance [Abstract]  
Short-Duration Insurance and Deposit Contracts [Text Block] UNPAID CLAIMS AND CLAIM EXPENSE – SHORT-DURATION CONTRACTS
Rollforward of Claims and Claim Adjustment Expenses
The liability for unpaid claims for short-duration contracts is reported in other policy claims and benefits on the Company’s condensed consolidated balance sheets. Activity associated with unpaid claims is summarized below (dollars in millions):
Nine months ended September 30,
20242023
Balance, beginning of year$2,730 $2,480 
Less: reinsurance recoverable(80)(57)
Net balance, beginning of year2,650 2,423 
Incurred:
Current year1,161 1,268 
Prior years(83)(89)
Total incurred1,078 1,179 
Payments:
Current year(240)(278)
Prior years(700)(721)
Total payments(940)(999)
Other changes:
Interest accretion29 25 
Foreign exchange adjustments(4)(45)
Total other changes25 (20)
Net balance, end of period2,813 2,583 
Plus: reinsurance recoverable62 71 
Balance, end of period$2,875 $2,654 
Incurred claims associated with prior periods are primarily due to the development of claims for prior years being different than were anticipated when the liabilities for unpaid claims were originally estimated. These trends have been considered in establishing the current year liability for unpaid claims.