Retroactive reinsurance contracts (Tables)

3 Months Ended

Mar. 31, 2025

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 follow (in millions).

	2025			2024
Balance at the beginning of the year	$	32,443		$	34,647
Losses and loss adjustment expenses incurred	2				51
Losses and loss adjustment expenses paid		(511	)		(408	)
Foreign currency effect		40			(45	)
Balance at March 31	$	31,974		$	34,245
Losses and loss adjustment expenses incurred above	$	2		$	51
Deferred charge adjustments		169			177
Losses and loss adjustment expenses incurred, including deferred charge adjustments	$	171		$	228