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Insurance (Tables)

9 Months Ended

Sep. 30, 2025

Insurance [Abstract]

Reconciliation of beginning and ending liability for unpaid losses and loss adjustment expenses

The following table provides an analysis of changes in the liability for losses and loss adjustment expenses during the first nine months of 2025 and 2024 (in millions):

			Nine months ended September 30,
			2025						2024
Balance at beginning of year			$	14,179					$	13,087
Less reinsurance recoverables, net of allowance			4,957						4,288
Net liability at beginning of year			9,222						8,799
Provision for losses and LAE occurring in the current period			3,381						3,379
Net decrease in the provision for claims of prior years			(54)						(100)
Total losses and LAE incurred			3,327						3,279
Payments for losses and LAE of:
Current year			(836)						(828)
Prior years			(1,998)						(2,027)
Total payments			(2,834)						(2,855)
Foreign currency translation and other			(7)						(2)
Net liability at end of period			9,708						9,221
Add back reinsurance recoverables, net of allowance			5,371						4,985
Gross unpaid losses and LAE included in the balance sheet at end of period			$	15,079					$	14,206

Reinsurance recoverable and premiums receivable, allowance for credit loss

Progressions of the 2025 and 2024 allowance for expected credit losses on recoverables from reinsurers and premiums receivable are shown below (in millions):

			Recoverables from Reinsurers												Premiums Receivable
			2025						2024						2025						2024
Balance at June 30			$	9					$	10					$	19					$	18
Provision (credit) for expected credit losses			—						—						1						1
Write-offs charged against the allowance			—						—						—						—
Balance at September 30			$	9					$	10					$	20					$	19
Balance at December 31			$	11					$	10					$	19					$	15
Provision (credit) for expected credit losses			(2)						—						1						5
Write-offs charged against the allowance			—						—						—						(1)
Balance at September 30			$	9					$	10					$	20					$	19

X

- Definition

Tabular disclosure of allowance for credit loss on reinsurance recoverable and premiums receivable.

+ References

No definition available.

+ Details

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X

- References

No definition available.

+ Details

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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

+ Details

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