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Unpaid losses and loss expenses (Unpaid Losses and Loss Expenses Rollforward) (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Unpaid Losses and Loss Expenses [Roll Forward]      
Gross unpaid losses and loss expenses, beginning of year $ 62,690 $ 62,960 $ 63,179
Reinsurance recoverable on unpaid losses, beginning of year [1] (14,181) (14,689) (14,014)
Net unpaid losses and loss expenses, beginning of year 48,509 48,271 49,165
Net losses and loss expenses incurred in respect of losses incurring in Current Year 22,124 19,575 19,048
Prior Year Claims and Claims Adjustment Expense [2] (414) (845) (981)
Total 21,710 18,730 18,067
Net losses and loss expenses paid in Current Year 7,782 7,894 7,544
Net losses and loss expenses paid in Prior Year 9,652 10,579 10,796
Total 17,434 18,473 18,340
Foreign currency revaluation and other 379 (19) (621)
Net unpaid losses and loss expenses, end of year 53,164 48,509 48,271
Reinsurance recoverable on unpaid losses, end of year [1] 14,647 14,181 14,689
Gross unpaid losses and loss expenses, end of year 67,811 62,690 62,960
Prior Period Development, net adjustments $ 19 $ 53 $ 85
[1] Net of valuation allowance for uncollectible reinsurance.
[2] Relates to prior period loss reserve development only and excludes prior period development related to reinstatement premiums, expense adjustments and earned premiums totaling $19 million, $53 million, and $85 million for 2020, 2019, and 2018, respectively.