Reinsurance (Tables)

12 Months Ended

Dec. 31, 2013

Reinsurance Disclosures [Abstract]

Schedule of direct, assumed and ceded premiums

The following table presents direct, assumed, and ceded premiums:

	Years Ended December 31
(in millions of U.S. dollars)	2013			2012			2011
Premiums written
Direct	$	19,212		$	18,144		$	17,626
Assumed		3,616			3,449			3,205
Ceded		(5,803	)		(5,518	)		(5,459	)
Net	$	17,025		$	16,075		$	15,372
Premiums earned
Direct	$	18,856		$	17,802		$	17,534
Assumed		3,479			3,302			3,349
Ceded		(5,722	)		(5,427	)		(5,496	)
Net	$	16,613		$	15,677		$	15,387

Schedule of reinsurance recoverable on losses and loss expenses

	December 31			December 31
(in millions of U.S. dollars)	2013			2012
Reinsurance recoverable on unpaid losses and loss expenses (1)		$	10,612		$	11,399
Reinsurance recoverable on paid losses and loss expenses (1)		615			679
Net reinsurance recoverable on losses and loss expenses		$	11,227		$	12,078

Schedule of reinsurance recoverable and provision by category of reinsurer

(in millions of U.S. dollars, except percentages)	2013			Provision			% of Gross
Categories
Largest reinsurers		$	5,117		$	78	1.5	%
Other reinsurers balances rated A- or better		2,901			36		1.2	%
Other reinsurers balances with ratings lower than A- or not rated		587			103		17.5	%
Other pools and government agencies		338			21		6.2	%
Structured settlements		577			12		2.1	%
Captives		1,762			14		0.8	%
Other		335			126		37.6	%
Total		$	11,617		$	390	3.4	%

Schedule of income and expenses relating to GMDB and GLB reinsurance

	Years Ended December 31
(in millions of U.S. dollars)	2013		2012		2011
GMDB
Net premiums earned	$	77	$	85	$	98
Policy benefits and other reserve adjustments	$	73	$	60	$	59
GLB
Net premiums earned	$	149	$	160	$	163
Policy benefits and other reserve adjustments	27		61		47
Net realized gains (losses)	929		203		(812		)
Gain (loss) recognized in income	$	1,051	$	302	$	(696	)
Net cash received	$	126	$	149	$	161
Net (increase) decrease in liability	$	925	$	153	$	(857	)