Reinsurance

6 Months Ended

Jun. 30, 2023

Reinsurance Disclosures [Abstract]

Reinsurance [Text Block]

Reinsurance

Reinsurance recoverable on ceded reinsurance

	June 30, 2023				December 31, 2022
(in millions of U.S. dollars)	Net Reinsurance Recoverable (1)		Valuation allowance		Net Reinsurance Recoverable (1)		Valuation allowance
Reinsurance recoverable on unpaid losses and loss expenses	$	16,608	$	306	$	17,086	$	289
Reinsurance recoverable on paid losses and loss expenses	1,790		55		1,773		62
Reinsurance recoverable on losses and loss expenses	$	18,398	$	361	$	18,859	$	351
Reinsurance recoverable on policy benefits	$	315	$	1	$	302	$	4

(1)Net of valuation allowance for uncollectible reinsurance.

The decrease in reinsurance recoverable on losses and loss expenses was primarily due to a seasonal decrease in crop insurance recoverables.

The following table presents a roll-forward of valuation allowance for uncollectible reinsurance related to Reinsurance recoverable on loss and loss expenses:

	Six Months Ended
	June 30
(in millions of U.S. dollars)	2023		2022
Valuation allowance for uncollectible reinsurance - beginning of period	$	351	$	329
Provision for uncollectible reinsurance	15		17
Write-offs charged against the valuation allowance	(6)		(4)
Foreign exchange revaluation	1		(1)
Valuation allowance for uncollectible reinsurance - end of period	$	361	$	341