Unpaid losses and loss adjustment expenses (Tables)

3 Months Ended

Mar. 31, 2023

Insurance [Abstract]

Schedule of liability for unpaid claims and claims adjustment expense

A reconciliation of the changes in claim liabilities, excluding liabilities under retroactive reinsurance contracts (see Note 15), for each of the three-month periods ending March 31, 2023 and 2022 follows (in millions).

	2023			2022
Balances at beginning of year:
Gross liabilities	$	107,472		$	86,664
Reinsurance recoverable on unpaid losses		(5,025	)		(2,960	)
Net liabilities		102,447			83,704
Incurred losses and loss adjustment expenses:
Current accident year		14,776			13,375
Prior accident years		(740	)		(251	)
Total		14,036			13,124
Paid losses and loss adjustment expenses:
Current accident year		(3,841	)		(3,908	)
Prior accident years		(9,747	)		(8,091	)
Total		(13,588	)		(11,999	)
Foreign currency effect		93			(106	)
Balances at March 31:
Net liabilities		102,988			84,723
Reinsurance recoverable on unpaid losses		4,969			2,944
Gross liabilities	$	107,957		$	87,667