XML 126 R53.htm IDEA: XBRL DOCUMENT v3.8.0.1
INSURANCE LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2017
Claims Development [Line Items]  
Schedule of reconciliation of activity in the liability for unpaid claims and claims adjustment expense
Years Ended December 31,
(in millions)201720162015
Liability for unpaid loss and loss adjustment expenses, beginning of year$77,077$74,942$77,260
Reinsurance recoverable(15,532)(14,339)(15,648)
Net Liability for unpaid loss and loss adjustment expenses, beginning of year61,54560,60361,612
Losses and loss adjustment expenses incurred:
Current year21,07920,23220,308
Prior years, excluding discount and amortization of deferred gain1,5655,7884,119
Prior years, discount charge (benefit)187(422)(71)
Prior years, amortization of deferred gain on retroactive reinsurance(a)(284)--
Total losses and loss adjustment expenses incurred22,54725,59824,356
Losses and loss adjustment expenses paid:
Current year(5,323)(5,825)(5,751)
Prior years(16,241)(16,908)(18,205)
Total losses and loss adjustment expenses paid(21,564)(22,733)(23,956)
Other changes:
Foreign exchange effect788(463)(1,429)
Acquisitions(b)23--
Dispositions(c)(360)(1,058)-
Retroactive reinsurance adjustment (net of discount)(d)(11,294)-20
Reclassified to liabilities held for sale(e)-(402)-
Total other changes(10,843)(1,923)(1,409)
Liability for unpaid losses and loss adjustment expenses, end of year:
Net liability for unpaid losses and loss adjustment expenses51,68561,54560,603
Reinsurance recoverable26,70815,53214,339
Total$78,393$77,077$74,942

(a) Includes $25 million for 2011 retroactive reinsurance agreement with NICO covering U.S. asbestos exposures for the year ended December 31, 2017.

(b) Includes amounts related to the acquisition of Blackboard U.S. Holdings Inc in 2017.

(c) Includes amounts related to dispositions through the date of disposition. Includes sale of insurance operations to Fairfax, United Guaranty and Ascot Underwriting Holdings Limited, and Ascot Employees Corporate Member Limited (Ascot).

(d) Includes discount on retroactive insurance in the amount of $1.5 billion for the period ended December 31, 2017.

(e) Represents change in loss reserves included in our sale of certain of our insurance operations and certain assets to Fairfax for the period ended December 31, 2016. Upon consummation of the sale, we retained a portion of these reserves through reinsurance arrangements.

Reconciliation of Claims Development to Liability
Net liability forunpaid losses and loss adjustment expensesas presented in the disaggregated tables belowReinsurance recoverable on unpaid losses and loss adjustment expensesincluded in the disaggregated tables belowGross liability forunpaid losses and loss adjustment expenses
(in millions)
U.S. Workers' Compensation (before discount)$6,616$6,513$13,129
U.S. Excess Casualty4,8024,0538,855
U.S. Other Casualty5,1494,7939,942
U.S. Financial Lines5,1041,9627,066
U.S. Property and Special risks5,4109686,378
U.S. Personal Insurance1,3801941,574
Europe Casualty and Financial lines6,9861,1568,142
Europe Property and Special risks2,0226322,654
Europe and Japan Personal Insurance2,3483492,697
U.S. Run-Off Long Tail Insurance Lines (before
discount)5,3833,6759,058
Total$45,200$24,295$69,495
Reconciling Items
Discount on workers' compensation lines(3,383)
Other product lines8,568
Unallocated loss adjustment expenses3,713
Total Loss Reserves$78,393
Schedule of development, (favorable) unfavorable, of incurred losses and loss adjustment expenses for accident year 2007 and prior by operating segment and major class of business
Years Ended December 31,
(in millions)201720162015
2007 and prior accident year development, excluding the impact of
Adverse Development Reinsurance Agreement, by major class of
of business and driver of development:
U.S. Workers' compensation (before discount)$4$1,009$100
U.S. Excess casualty141107450
U.S. Other casualty10338440
U.S. Financial lines(44)31191
U.S. Property and Special risks121226
U.S. Personal Insurance5(13)33
Europe Casualty and Financial lines169(6)(2)
Europe Property and Special risks(5)1(1)
Europe and Japan Personal Insurance1(5)1
U.S. Long Tail Insurance lines (before discount)(46)363621
All Other including unallocated loss adjustment expenses1773(11)
Total prior year unfavorable development$424$1,840$1,848
Schedule of historical average annual percentage claims payout on an accident year basis
Average Annual Percentage Payout of Incurred Losses by Age, Net of Reinsurance (Unaudited)
Year12345678910
U.S. Workers' compensation14.7%17.6%12.4%9.1%7.7%5.3%4.1%3.0%2.2%1.8%
U.S. Excess casualty0.67.013.013.412.511.08.410.02.88.3
U.S. Other casualty9.916.315.414.511.88.25.95.62.61.9
U.S. Financial lines4.017.921.116.713.29.36.16.03.01.2
U.S. Property and Special risks30.235.713.07.24.62.51.00.90.70.3
U.S. Personal Insurance61.427.63.82.21.20.60.40.20.10.2
Europe Casualty and Financial lines7.917.013.713.79.87.56.34.65.01.0
Europe Property and Special risks24.041.617.26.34.01.51.00.20.20.2
Europe and Japan Personal Insurance56.026.98.03.82.01.10.60.30.30.1
U.S. Long Tail Insurance lines9.818.316.912.510.76.74.03.11.92.0
Schedule of components of the loss reserve discount
December 31, 2017December 31, 2016
LegacyLegacy
Portfolio -Portfolio -
GeneralGeneral
North AmericaInsurance Run-North AmericaInsurance Run-
CommercialOff InsuranceCommercialOff Insurance
(in millions)InsuranceLinesTotalInsuranceLinesTotal
U.S. Workers' compensation$2,465$918$3,383$2,583$987$3,570
Retroactive reinsurance(1,539)-(1,539)---
Total reserve discount*$926$918$1,844$2,583$987$3,570

* Excludes $173 million and $181 million of discount related to certain long tail liabilities in the United Kingdom at December 31, 2017 and December 31, 2016, respectively.
Schedule of loss reserve discount and loss reserve discount benefit (charge)
Years Ended December 31,201720162015
LegacyLegacyLegacy
Portfolio -Portfolio -Portfolio -
GeneralGeneralGeneral
NorthInsuranceNorthInsuranceNorthInsurance
AmericaRun-OffAmericaRun-OffAmericaRun-Off
CommercialInsuranceCommercialInsuranceCommercialInsurance
(in millions)InsuranceLinesTotalInsuranceLinesTotalInsuranceLinesTotal
Current accident year$114$-$114$177$-$177$182$-$182
Accretion and other
adjustments to prior
year discount(186)(44)(230)28764351(262)(74)(336)
Effect of interest rate
changes(46)(25)(71)(58)(48)(106)14877225
Net reserve discount
benefit (charge)(118)(69)(187)4061642268371
Amount transferred to run-off
insurance lines------(39)39-
Change in discount on loss
reserves ceded under
retroactive reinsurance(1,539)-(1,539)------
Net change in total
reserve discount*(1,657)(69)(1,726)40616422294271
Comprised of:
U.S. Workers' compensation$(1,657)$(69)$(1,726)$406$23$429$29$46$75
Asbestos$-$-$-$-$(7)$(7)$-$(4)$(4)

Excludes $8 million and $20 million of discount related to certain long tail liabilities in the United Kingdom at December 31, 2017 and 2016, respectively.
Schedule of Policyholder contract deposits by product type
At December 31,
(in millions)20172016
Policyholder contract deposits:
Fixed Annuities$49,979$51,278
Group Retirement40,42239,578
Life Insurance12,44811,855
Variable and Index Annuities19,69016,934
Institutional Markets8,0777,286
Legacy Portfolio4,9865,285
Total Policyholder contract deposits$135,602$132,216
U.S. Workers Compensation  
Claims Development [Line Items]  
Schedule of Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance
Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance
Years Ended December 31, (dollars in millions)December 31, 2017
Accident Year20082009201020112012201320142015201620172017 Prior Year Development Excluding the Impact of Adverse Development Reinsurance AgreementTotal of IBNR Liabilities Plus Expected Development on Reported LossesCumulative Number of Reported ClaimsIncurred Impact of Adverse Development Reinsurance Agreement2017 (Net of Impact of Adverse Development Reinsurance Agreement)Total of IBNR Liabilities Net of Impact of Adverse Development Reinsurance Agreement
Unaudited
2008$4,114$4,184$4,422$4,425$4,471$4,398$4,385$4,398$4,547$4,536$(11)$448198,852$(416)$4,120$32
20093,4663,6333,6083,6663,6393,6163,6063,7083,7146495147,357(416)3,29879
20102,7063,0493,1253,1483,2113,2143,2863,267(19)451133,191(449)2,8182
20112,9012,9533,0913,1583,1133,1523,1564481124,657(479)2,6772
20122,3822,1942,2862,2602,3342,308(26)50370,625(494)1,8149
20131,9321,8801,9502,0602,032(28)54846,483(538)1,49410
20141,7291,7641,8661,862(4)66439,408(552)1,310112
20151,7081,8641,866284935,059(587)1,279262
20161,2991,3464777328,880-1,346773
201778957722,523-789577
Total$24,876$(29)$(3,931)$20,945
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of
Reinsurance from the table below(16,580)--(16,580)
Liabilities for losses and loss adjustment expenses and prior year development
before accident year 2008, net of reinsurance3,8674(1,616)2,251
Unallocated loss adjustment expense prior year development(6)
Liabilities for losses and loss adjustment expenses and prior year loss
development, net of reinsurance$12,163$(31)$(5,547)$6,616
Schedule of Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
Years Ended December 31, (dollars in millions)
Accident Year2008200920102011201220132014201520162017Paid Impact of Adverse Development Reinsurance Agreement
Unaudited
2008$785$1,678$2,252$2,655$3,044$3,272$3,476$3,609$3,707$3,789$-
20096301,3281,7562,1202,3902,6212,7802,8872,968-
20105501,0931,5371,8552,1262,2882,4262,532-
20115191,1291,5611,8842,1292,2852,388-
20124158041,0891,2721,4401,563-
20132826198791,0671,214-
2014231558786930-
2015234524725-
2016147378-
201793-
Total$16,580$-
U.S. Excess Casualty  
Claims Development [Line Items]  
Schedule of Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance
Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance
Years Ended December 31, (dollars in millions)December 31, 2017
Accident Year20082009201020112012201320142015201620172017 Prior Year Development Excluding the Impact of Adverse Development Reinsurance AgreementTotal of IBNR Liabilities Plus Expected Development on Reported LossesCumulative Number of Reported ClaimsIncurred Impact of Adverse Development Reinsurance Agreement2017 (Net of Impact of Adverse Development Reinsurance Agreement)Total of IBNR Liabilities Net of Impact of Adverse Development Reinsurance Agreement
Unaudited
2008$1,948$1,968$2,146$1,933$1,819$1,875$1,714$1,662$1,635$1,658$23$1884,662$(176)$1,482$12
20091,8311,8971,7971,6381,4571,3211,4071,5181,52242103,789(169)1,35341
20101,8632,0762,0761,7711,6401,7231,7191,706(13)3593,588(260)1,44699
20111,7661,8071,5811,4161,5211,6061,623173503,520(256)1,36794
20121,5881,3821,2261,4771,5301,481(49)3713,398(323)1,15848
20131,0739731,1131,2581,178(80)4412,722(309)869132
20148499681,1571,135(22)5832,088(355)780228
20158921,3341,320(14)6021,770(425)895177
20167901,0292398701,061-1,029870
2017758725376-758725
Total$13,410$105$(2,273)$11,137
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of
Reinsurance from the table below(7,120)--(7,120)
Liabilities for losses and loss adjustment expenses and prior year development
before accident year 2008, net of reinsurance1,649141(864)785
Unallocated loss adjustment expense prior year development8
Liabilities for losses and loss adjustment expenses and prior year loss
development, net of reinsurance$7,939$254$(3,137)$4,802
Schedule of Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
Years Ended December 31, (dollars in millions)
Accident Year2008200920102011201220132014201520162017Paid Impact of Adverse Development Reinsurance Agreement
Unaudited
2008$11$97$439$667$842$954$1,061$1,172$1,226$1,364$-
20098692494496247889651,1741,212-
2010101974756547959461,0521,217-
20115632253867169211,069-
20123106288495649887-
201315104204382546-
2014368202397-
20159192361-
20161466-
20171-
Total$7,120$-
U.S. Other Casualty  
Claims Development [Line Items]  
Schedule of Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance
Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance
Years Ended December 31, (dollars in millions)December 31, 2017
Accident Year20082009201020112012201320142015201620172017 Prior Year Development Excluding the Impact of Adverse Development Reinsurance AgreementTotal of IBNR Liabilities Plus Expected Development on Reported LossesCumulative Number of Reported ClaimsIncurred Impact of Adverse Development Reinsurance Agreement2017 (Net of Impact of Adverse Development Reinsurance Agreement)Total of IBNR Liabilities Net of Impact of Adverse Development Reinsurance Agreement
Unaudited
2008$2,957$2,773$2,837$2,901$2,981$2,983$3,087$3,154$3,193$3,175$(18)$204117,484$(104)$3,071$100
20092,4162,5172,5862,5822,6972,8182,8802,8632,855(8)14490,101(143)2,7121
20102,1322,1092,2432,1922,3412,3842,5032,494(9)32596,061(133)2,361192
20112,0522,2222,3212,4582,6012,6392,596(43)25675,189(187)2,40969
20122,0122,1622,2182,2292,3712,4305938241,924(210)2,220172
20131,6621,7391,9182,1522,1833145036,699(225)1,958225
20141,7561,7291,9732,0174460334,745(331)1,686272
20151,3401,7781,8476975231,409(456)1,391296
20161,3481,352485323,868-1,352853
201761648715,172-616487
Total$21,565$129$(1,789)$19,776
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of
Reinsurance from the table below(15,521)--(15,521)
Liabilities for losses and loss adjustment expenses and prior year development
before accident year 2008, net of reinsurance1,40610(512)894
Unallocated loss adjustment expense prior year development77
Liabilities for losses and loss adjustment expenses and prior year loss
development, net of reinsurance$7,450$216$(2,301)$5,149
Schedule of Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
Years Ended December 31, (dollars in millions)
Accident Year2008200920102011201220132014201520162017Paid Impact of Adverse Development Reinsurance Agreement
Unaudited
2008$277$791$1,251$1,771$2,119$2,396$2,586$2,731$2,835$2,895$-
20093938421,2531,6502,0022,2412,3862,6072,664-
20102956619851,3581,6401,8241,9722,087-
20112357261,1091,4881,8222,0482,220-
20124137431,0481,3951,6901,882-
20131695929561,2431,483-
20142106218711,157-
2015111321783-
201677299-
201751-
Total$15,521$-
U.S. Financial Lines  
Claims Development [Line Items]  
Schedule of Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance
Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance
Years Ended December 31, (dollars in millions)December 31, 2017
Accident Year20082009201020112012201320142015201620172017 Prior Year Development Excluding the Impact of Adverse Development Reinsurance AgreementTotal of IBNR Liabilities Plus Expected Development on Reported LossesCumulative Number of Reported ClaimsIncurred Impact of Adverse Development Reinsurance Agreement2017 (Net of Impact of Adverse Development Reinsurance Agreement)Total of IBNR Liabilities Net of Impact of Adverse Development Reinsurance Agreement
Unaudited
2008$1,871$2,045$2,017$1,847$1,961$1,897$1,933$2,066$2,096$2,106$10$3621,719$(21)$2,085$15
20091,6931,7801,8451,9042,0972,1892,1832,2732,310376022,613(26)2,28434
20101,5521,5091,4061,3661,3701,4721,5141,541277020,159(31)1,51039
20111,8161,7341,9021,9021,9351,9651,997325020,048(50)1,947-
20121,5721,7391,7771,8921,9861,987114620,090(83)1,90463
20131,7671,6911,6431,5971,541(56)24818,996(126)1,415122
20141,7671,7361,8491,8984941717,249(198)1,700219
20151,7051,7441,719(25)66515,698(313)1,406352
20161,5931,8412481,03615,386-1,8411,036
20171,5601,36913,428-1,5601,369
Total$18,500$323$(848)$17,652
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of
Reinsurance from the table below(12,615)--(12,615)
Liabilities for losses and loss adjustment expenses and prior year development
before accident year 2008, net of reinsurance88(44)(21)67
Unallocated loss adjustment expense prior year development66
Liabilities for losses and loss adjustment expenses and prior year loss
development, net of reinsurance$5,973$345$(869)$5,104
Schedule of Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
Years Ended December 31, (dollars in millions)
Accident Year2008200920102011201220132014201520162017Paid Impact of Adverse Development Reinsurance Agreement
Unaudited
2008$32$420$888$1,183$1,385$1,590$1,712$1,897$1,990$2,016$-
20091294998871,2731,6141,8381,9642,0562,092-
2010312855668001,0171,1801,2801,361-
20111654948861,2101,5281,7321,862-
2012764068151,2521,4971,625-
2013433336869451,142-
2014663718531,159-
201566393792-
201676500-
201766-
Total$12,615$-
U.S. Property and Specialty Risks  
Claims Development [Line Items]  
Schedule of Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance
Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance
Years Ended December 31, (dollars in millions)December 31, 2017
Accident Year20082009201020112012201320142015201620172017 Prior Year Development Excluding the Impact of Adverse Development Reinsurance AgreementTotal of IBNR Liabilities Plus Expected Development on Reported LossesCumulative Number of Reported ClaimsIncurred Impact of Adverse Development Reinsurance Agreement2017 (Net of Impact of Adverse Development Reinsurance Agreement)Total of IBNR Liabilities Net of Impact of Adverse Development Reinsurance Agreement
Unaudited
2008$3,531$3,789$3,747$3,700$3,659$3,609$3,585$3,581$3,576$3,575$(1)$2056,526$(14)$3,561$6
20091,9191,7041,6891,7001,6621,6651,6561,6641,663(1)1842,897(13)1,6505
20102,2752,0422,0092,0492,0612,0382,0432,058152142,276(18)2,0403
20113,0452,9172,8722,8782,8672,9102,91994343,849(19)2,90024
20123,4703,6173,5853,5763,6973,691(6)6242,278(25)3,66637
20131,9751,9721,8591,9261,949237441,937(38)1,91136
20142,3552,1432,2202,213(7)14050,160(61)2,15279
20152,3982,3122,299(13)20350,624(98)2,201105
20162,5162,5806440245,583-2,580402
20174,0851,33129,709-4,0851,331
Total$27,032$83$(286)26,746
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of
Reinsurance from the table below(21,589)--(21,589)
Liabilities for losses and loss adjustment expenses and prior year development
before accident year 2008, net of reinsurance31812(65)253
Unallocated loss adjustment expense prior year development20
Liabilities for losses and loss adjustment expenses and prior year loss
development, net of reinsurance$5,761$115$(351)5,410
Schedule of Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
Years Ended December 31, (dollars in millions)
Accident Year2008200920102011201220132014201520162017Paid Impact of Adverse Development Reinsurance Agreement
Unaudited
2008$1,323$2,679$3,150$3,342$3,457$3,487$3,498$3,515$3,530$3,540$-
20094951,0441,2881,4431,5281,5801,5971,6181,633-
20106541,3911,6571,7991,8801,9401,9782,001-
20118801,9882,4172,5932,7342,8122,840-
20127342,4102,9783,2733,4563,565-
20135861,2751,4691,6201,732-
20147451,4521,7131,869-
20158201,5011,766-
20167991,689-
2017954-
Total$21,589$-
U.S. Personal Insurance  
Claims Development [Line Items]  
Schedule of Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance
Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance
Years Ended December 31, (dollars in millions)December 31, 2017
Accident Year20082009201020112012201320142015201620172017 Prior Year Development Excluding the Impact of Adverse Development Reinsurance AgreementTotal of IBNR Liabilities Plus Expected Development on Reported LossesCumulative Number of Reported ClaimsIncurred Impact of Adverse Development Reinsurance Agreement2017 (Net of Impact of Adverse Development Reinsurance Agreement)Total of IBNR Liabilities Net of Impact of Adverse Development Reinsurance Agreement
Unaudited
2008$1,630$1,638$1,640$1,654$1,654$1,654$1,663$1,666$1,664$1,668$4$1292,830$(1)$1,667$-
20091,7631,6971,6491,6631,6641,6641,6681,6671,67144375,959-1,6714
20101,8431,8091,8191,8191,8201,8191,8171,817-2422,527(1)1,8161
20111,8861,9081,8961,8911,8901,8861,881(5)1412,670(1)1,880-
20122,2082,1282,1092,0832,0772,094174403,542(3)2,0911
20131,8871,8161,8031,7821,780(2)7334,474(6)1,7741
20141,5521,5621,5721,572-19273,481(8)1,56411
20151,5111,4981,494(4)23258,241(19)1,4754
20161,5361,533(3)73240,892-1,53373
20172,028571185,198-2,028571
Total$17,538$11$(39)17,499
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of
Reinsurance from the table below(16,053)--(16,053)
Liabilities for losses and loss adjustment expenses and prior year development
before accident year 2008, net of reinsurance(65)5(1)(66)
Unallocated loss adjustment expense prior year development-
Liabilities for losses and loss adjustment expenses and prior year loss
development, net of reinsurance$1,420$16$(40)1,380
Schedule of Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
Years Ended December 31, (dollars in millions)
Accident Year2008200920102011201220132014201520162017Paid Impact of Adverse Development Reinsurance Agreement
Unaudited
2008$1,151$1,493$1,569$1,609$1,634$1,644$1,656$1,660$1,663$1,665$-
20091,1291,5631,5671,6181,6391,6501,6581,6631,664-
20101,2051,6691,7361,7721,7941,8031,8081,810-
20111,2041,7521,8141,8401,8601,8691,873-
20121,2381,9361,9962,0352,0652,079-
20131,1091,6341,7051,7441,759-
20149591,3801,4631,507-
20159311,3201,411-
20168571,344-
2017941-
Total$16,053$-
Europe Casualty and Financial Lines  
Claims Development [Line Items]  
Schedule of Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance
Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance*
Years Ended December 31, (dollars in millions)December 31, 2017
Accident Year20082009201020112012201320142015201620172017 Prior Year DevelopmentTotal of IBNR Liabilities Plus Expected Development on Reported LossesCumulative Number of Reported Claims
Unaudited
2008$1,511$1,615$1,632$1,580$1,595$1,599$1,649$1,605$1,604$1,604$-$24236,384
20091,7461,8441,8581,8561,8851,9061,9121,9962,03034103236,270
20101,4841,4361,4321,4571,3801,4201,3771,4456877274,310
20111,4141,3521,4261,4651,5521,5541,5974383264,629
20121,2241,1931,1501,2221,2631,232(31)103217,887
20131,2211,2771,2571,2581,30547194185,435
20141,2801,2671,3021,3031340175,630
20151,3371,5151,53823588188,348
20161,5631,716153724221,122
20171,5871,214204,712
Total$15,357$338
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of
Reinsurance from the table below(8,965)-
Liabilities for losses and loss adjustment expenses and prior year development
before accident year 2008, net of reinsurance594169
Unallocated loss adjustment expense prior year development-
Liabilities for losses and loss adjustment expenses and prior year loss
development, net of reinsurance$6,986$507
* The losses reported in the table are not covered by the Adverse Development Reinsurance Agreement.
Schedule of Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance*
Years Ended December 31, (dollars in millions)
Accident Year2008200920102011201220132014201520162017
Unaudited
2008$130$477$726$961$1,118$1,245$1,323$1,375$1,455$1,471
20091394187089701,1391,2741,4421,5811,681
20101474206358089471,0421,1091,162
20111403765648119631,1081,224
2012121334484677809897
2013105375543736877
201486299494628
201580286486
2016140426
2017113
Total$8,965
* The losses reported in the table are not covered by the Adverse Development Reinsurance Agreement.
Europe Property and Special Risks  
Claims Development [Line Items]  
Schedule of Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance
Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance*
Years Ended December 31, (dollars in millions)December 31, 2017
Accident Year20082009201020112012201320142015201620172017 Prior Year DevelopmentTotal of IBNR Liabilities Plus Expected Development on Reported LossesCumulative Number of Reported Claims
Unaudited
2008$633$636$644$643$632$626$620$618$614$613$(1)$-41,602
2009738666675674666680655655655-339,109
20107887477197037127037067071-40,389
2011763687648642631628628--39,925
201272868264863061562712(2)34,457
20139149158428408422(1)32,405
20149941,0461,0521,050(2)138,719
20151,2261,2191,248291241,799
20161,1181,2391212440,629
20171,37739029,313
Total$8,986$162
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of
Reinsurance from the table below(6,971)-
Liabilities for losses and loss adjustment expenses and prior year development
before accident year 2008, net of reinsurance7(5)
Unallocated loss adjustment expense prior year development-
Liabilities for losses and loss adjustment expenses and prior year loss
development, net of reinsurance$2,022$157
* The losses reported in the table are not covered by the Adverse Development Reinsurance Agreement.
Schedule of Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance*
Years Ended December 31, (dollars in millions)
Accident Year2008200920102011201220132014201520162017
Unaudited
2008$148$399$511$546$577$590$596$596$598$599
2009183429532585613620632634635
2010187489584634672686690693
2011181444543581591599604
2012154410511549572580
2013193535700751786
2014220669885939
20152907781,005
2016300894
2017236
Total$6,971
* The losses reported in the table are not covered by the Adverse Development Reinsurance Agreement.
Europe and Japan Personal Insurance  
Claims Development [Line Items]  
Schedule of Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance
Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance*
Years Ended December 31, (dollars in millions)December 31, 2017
Accident Year20082009201020112012201320142015201620172017 Prior Year DevelopmentTotal of IBNR Liabilities Plus Expected Development on Reported LossesCumulative Number of Reported Claims
Unaudited
2008$2,869$2,911$2,904$2,908$2,915$2,919$2,913$2,916$2,912$2,914$2$31,577,002
20092,9132,9002,9012,9202,9092,9072,9002,9022,902-51,605,992
20102,9693,0073,0153,0033,0042,9993,0273,030381,819,631
20113,2743,3243,2933,2953,2843,2883,287(1)101,777,001
20122,8982,8672,8512,8362,8452,8461161,729,298
20132,7472,7362,7052,7062,702(4)251,734,759
20142,7172,7162,6982,690(8)451,789,718
20152,7952,7562,746(10)921,762,514
20162,7342,692(42)1941,762,768
20172,6595491,502,118
Total$28,468$(59)
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of
Reinsurance from the table below(26,161)-
Liabilities for losses and loss adjustment expenses and prior year development
before accident year 2008, net of reinsurance411
Unallocated loss adjustment expense prior year development-
Liabilities for losses and loss adjustment expenses and prior year loss
development, net of reinsurance$2,348$(58)
* The losses reported in the table are not covered by the Adverse Development Reinsurance Agreement.
Schedule of Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance*
Years Ended December 31, (dollars in millions)
Accident Year2008200920102011201220132014201520162017
Unaudited
2008$1,602$2,421$2,655$2,773$2,829$2,865$2,880$2,887$2,896$2,899
20091,6272,4122,6562,7652,8212,8502,8672,8792,886
20101,7032,4972,7412,8522,9092,9442,9632,975
20111,9872,7873,0223,1343,1983,2273,244
20121,6142,3632,5912,6982,7542,785
20131,5032,2462,4622,5692,625
20141,4762,2252,4472,558
20151,5012,2702,493
20161,5002,231
20171,465
Total$26,161
* The losses reported in the table are not covered by the Adverse Development Reinsurance Agreement.
U.S. Run-Off Long Tail Insurance Lines  
Claims Development [Line Items]  
Schedule of Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance
Incurred Losses and Allocated Loss Adjustment Expenses, Undiscounted and Net of Reinsurance*
Years Ended December 31, (dollars in millions)December 31, 2017
Accident Year20082009201020112012201320142015201620172017 Prior Year DevelopmentTotal of IBNR Liabilities Plus Expected Development on Reported LossesCumulative Number of Reported Claims
Unaudited
2008$945$1,035$884$868$909$926$978$976$983$985$2$6540,075
2009553532544579635602599580576(4)7516,237
2010640528534557585582611565(46)688,490
201153454257664167668570015977,798
201262967874178675175211044,053
2013482533589570528(42)842,510
201437947545345961642,307
2015439523550271742,285
2016294285(9)981,591
2017197163607
Total$5,597$(50)
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of
Reinsurance from the table below(3,830)-
Liabilities for losses and loss adjustment expenses and prior year development
before accident year 2008, net of reinsurance3,616(46)
Unallocated loss adjustment expense prior year development66
Liabilities for losses and loss adjustment expenses and prior year loss
development, net of reinsurance$5,383$(30)
* The losses reported in the table are not covered by the Adverse Development Reinsurance Agreement.
Schedule of Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance*
Years Ended December 31, (dollars in millions)
Accident Year2008200920102011201220132014201520162017
Unaudited
2008$133$370$497$572$657$726$787$832$846$866
200942134231286368409429447461
201057149243321404435455464
201121140259385449532549
201286194286414481498
201387154261321368
20142196185233
201535132238
201653140
201713
Total$3,830
* The losses reported in the table are not covered by the Adverse Development Reinsurance Agreement.