Unpaid Losses and Loss Expenses (Tables)

12 Months Ended

Dec. 31, 2013

Insurance [Abstract]

Reconciliation of Beginning and Ending Liability for Unpaid Losses and Loss Expenses

A reconciliation of the beginning and ending liability for unpaid losses and loss expenses, net of reinsurance recoverable, and a reconciliation of the net liability to the corresponding liability on a gross basis is as follows:

	2013			2012			2011
	(in millions)
Gross liability, beginning of year	$	23,963		$	23,068		$	22,718
Reinsurance recoverable, beginning of year		1,941			1,739			1,817
Net liability, beginning of year		22,022			21,329			20,901
Net incurred losses and loss expenses related to
Current year		7,232			8,121			8,174
Prior years		(712	)		(614	)		(767	)
		6,520			7,507			7,407
Net payments for losses and loss expenses related to
Current year		2,150			2,323			2,746
Prior years		4,952			4,493			4,300
		7,102			6,816			7,046
Foreign currency translation effect		(96	)		2			67
Net liability, end of year		21,344			22,022			21,329
Reinsurance recoverable, end of year		1,802			1,941			1,739
Gross liability, end of year	$	23,146		$	23,963		$	23,068