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Insurance (Tables)

3 Months Ended

Mar. 31, 2026

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 three months of 2026 and 2025 (in millions):

			Three months ended March 31,
			2026						2025
Balance at beginning of year			$	15,094					$	14,179
Less reinsurance recoverables, net of allowance			5,306						4,957
Net liability at beginning of year			9,788						9,222
Provision for losses and LAE occurring in the current period			976						985
Net decrease in the provision for claims of prior years			(70)						(20)
Total losses and LAE incurred			906						965
Payments for losses and LAE of:
Current year			(92)						(104)
Prior years			(796)						(863)
Total payments			(888)						(967)
Foreign currency translation and other			(2)						(2)
Net liability at end of period			9,804						9,218
Add back reinsurance recoverables, net of allowance			5,110						4,752
Gross unpaid losses and LAE included in the balance sheet at end of period			$	14,914					$	13,970

Reinsurance recoverable and premiums receivable, allowance for credit loss

Progressions of the 2026 and 2025 allowance for expected credit losses on recoverables from reinsurers and premiums receivable are shown below (in millions):

			Recoverables from Reinsurers												Premiums Receivable
			2026						2025						2026						2025
Balance at December 31			$	10					$	11					$	20					$	19
Provision (credit) for expected credit losses			(1)						(1)						(1)						(1)
Write-offs charged against the allowance			—						—						—						—
Balance at March 31			$	9					$	10					$	19					$	18

X

- Definition

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

+ References

No definition available.

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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

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