Retroactive reinsurance contracts (Tables)

12 Months Ended

Dec. 31, 2022

Insurance [Abstract]

Reconciliation of changes in claim liabilities and incurred losses and loss adjustment expenses

Reconciliations of the changes in estimated liabilities for retroactive reinsurance unpaid losses and loss adjustment expenses (“claim liabilities”) and reconciliations of incurred losses and loss adjustment expenses to the amounts recorded in the Consolidated Statements of Earnings for each of the three years ended December 31, 2022 follow (in millions).

	2022			2021			2020
Balances at beginning of year	$	37,855		$	40,623		$	41,927
Incurred losses and loss adjustment expenses:
Current year contracts		—			153			—
Prior years’ contracts		86			(974	)		(399	)
Total		86			(821	)		(399	)
Paid losses and loss adjustment expenses		(2,358	)		(1,889	)		(1,076	)
Foreign currency effect		(168	)		(58	)		171
Balances at December 31	$	35,415		$	37,855		$	40,623
Incurred losses and loss adjustment expenses above	$	86		$	(821	)	$	(399	)
Deferred charge amortization and adjustments		769			1,802			1,306
Incurred losses and loss adjustment expenses included in the Consolidated    Statements of Earnings	$	855		$	981		$	907