Unpaid losses and loss expenses Unpaid losses and loss expenses (Tables)

3 Months Ended

Mar. 31, 2018

Liability for Claims and Claims Adjustment Expense [Abstract]

Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block]

The following table presents a reconciliation of beginning and ending Unpaid losses and loss expenses:

	Three Months Ended March 31
(in millions of U.S. dollars)	2018			2017
Gross unpaid losses and loss expenses – beginning of period	$	63,179		$	60,540
Reinsurance recoverable on unpaid losses - beginning of period (1)	(14,014		)	(12,708		)
Net unpaid losses and loss expenses – beginning of period	49,165			47,832
Net losses and loss expenses incurred in respect of losses occurring in:
Current year	4,358			4,078
Prior years (2)	(256		)	(289		)
Total	4,102			3,789
Net losses and loss expenses paid in respect of losses occurring in:
Current year	809			798
Prior years	3,433			3,109
Total	4,242			3,907
Foreign currency revaluation and other	292			54
Net unpaid losses and loss expenses – end of period	49,317			47,768
Reinsurance recoverable on unpaid losses (3)	13,822			12,811
Gross unpaid losses and loss expenses – end of period	$	63,139		$	60,579

⁽¹⁾  Net of provision for uncollectible reinsurance of $321 million and $300 million at December 31, 2017 and 2016, respectively.

⁽²⁾  Relates to prior period loss reserve development only and excludes prior period development related to reinstatement premiums, expense adjustments, and earned premiums totaling $47 million and $58 million for the three months ended March 31, 2018 and 2017, respectively.

⁽³⁾  Net of provision for uncollectible reinsurance of $320 million and $334 million at March 31, 2018 and 2017, respectively.

Prior Period Development, by Segment [Table Text Block]

	Three Months Ended March 31
(in millions of U.S. dollars)	Long-tail			Short-tail			Total
2018
North America Commercial P&C Insurance	$	8		$	(109	)	$	(101	)
North America Personal P&C Insurance	—			(6		)	(6		)
North America Agricultural Insurance	—			(76		)	(76		)
Overseas General Insurance	—			(22		)	(22		)
Global Reinsurance	—			(14		)	(14		)
Corporate	10			—			10
Total	$	18		$	(227	)	$	(209	)
2017
North America Commercial P&C Insurance	$	(94	)	$	(85	)	$	(179	)
North America Personal P&C Insurance	—			(3		)	(3		)
North America Agricultural Insurance	—			(79		)	(79		)
Overseas General Insurance	32			(20		)	12
Global Reinsurance	8			—			8
Corporate	10			—			10
Total	$	(44	)	$	(187	)	$	(231	)