Unpaid Losses and Loss Expenses (Tables)

12 Months Ended

Dec. 31, 2014

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:

	2014			2013			2012
	(in millions)
Gross liability, beginning of year	$	23,146		$	23,963		$	23,068
Reinsurance recoverable, beginning of year		1,802			1,941			1,739
Net liability, beginning of year		21,344			22,022			21,329
Net incurred losses and loss expenses related to
Current year		7,621			7,232			8,121
Prior years		(636	)		(712	)		(614	)
		6,985			6,520			7,507
Net payments for losses and loss expenses related to
Current year		2,496			2,150			2,323
Prior years		4,534			4,952			4,493
		7,030			7,102			6,816
Foreign currency translation effect		(260	)		(96	)		2
Net liability, end of year		21,039			21,344			22,022
Reinsurance recoverable, end of year		1,639			1,802			1,941
Gross liability, end of year	$	22,678		$	23,146		$	23,963