Unpaid losses and loss expenses (Tables)

6 Months Ended

Jun. 30, 2023

Liability for Claims and Claims Adjustment Expense [Abstract]

Schedule of Unpaid Losses And Loss Expenses Roll Forward [Table Text Block]

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

	Six Months Ended
	June 30
	2023		2022
(in millions of U.S. dollars)			As Adjusted
Gross unpaid losses and loss expenses – beginning of period	$	75,747	$	72,330
Reinsurance recoverable on unpaid losses – beginning of period (1)	(17,086)		(16,132)
Net unpaid losses and loss expenses – beginning of period	58,661		56,198
Net losses and loss expenses incurred in respect of losses occurring in:
Current year	11,227		10,391
Prior years (2)	(396)		(621)
Total	10,831		9,770
Net losses and loss expenses paid in respect of losses occurring in:
Current year	2,264		1,881
Prior years	7,527		6,566
Total	9,791		8,447
Foreign currency revaluation and other	171		(577)
Net unpaid losses and loss expenses – end of period	59,872		56,944
Reinsurance recoverable on unpaid losses (1)	16,608		16,504
Gross unpaid losses and loss expenses – end of period	$	76,480	$	73,448

(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, earned premiums, and development on international A&H lines totaling $0 million and $134 million for the six months ended June 30, 2023 and 2022, respectively.

Prior Period Development, by Segment [Table Text Block]

The following table summarizes (favorable) and adverse PPD by segment:

	Three Months Ended June 30						Six Months Ended June 30
(in millions of U.S. dollars)	Long-tail		Short-tail		Total		Long-tail		Short-tail		Total
2023
North America Commercial P&C Insurance	$	(139)	$	(7)	$	(146)	$	(130)	$	(88)	$	(218)
North America Personal P&C Insurance	—		(33)		(33)		—		(16)		(16)
North America Agricultural Insurance	—		(3)		(3)		—		(3)		(3)
Overseas General Insurance	—		(61)		(61)		—		(204)		(204)
Global Reinsurance	7		(24)		(17)		7		(32)		(25)
Corporate	60		—		60		70		—		70
Total	$	(72)	$	(128)	$	(200)	$	(53)	$	(343)	$	(396)
2022
North America Commercial P&C Insurance	$	(266)	$	(21)	$	(287)	$	(286)	$	(109)	$	(395)
North America Personal P&C Insurance	—		(3)		(3)		—		(54)		(54)
North America Agricultural Insurance	—		—		—		—		(26)		(26)
Overseas General Insurance	—		(173)		(173)		—		(233)		(233)
Global Reinsurance	(7)		32		25		(7)		29		22
Corporate	191		—		191		199		—		199
Total	$	(82)	$	(165)	$	(247)	$	(94)	$	(393)	$	(487)