Retroactive reinsurance contracts (Tables)

12 Months Ended

Dec. 31, 2024

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 for each of the three years ended December 31, 2024 follow (in millions).

	2024			2023			2022
Balance at the beginning of the year	$	34,647		$	35,415		$	37,855
Losses and loss adjustment expenses incurred		247			1,109			86
Losses and loss adjustment expenses paid		(2,399	)		(1,934	)		(2,358	)
Foreign currency effect		(52	)		57			(168	)
Balance at December 31	$	32,443		$	34,647		$	35,415
Losses and loss adjustment expenses incurred above	$	247		$	1,109		$	86
Deferred charge adjustments		698			375			769
Losses and loss adjustment expenses incurred, including deferred charge      adjustments	$	945		$	1,484		$	855