Unpaid Claims and Claims Expense Short Duration Contracts (Tables)

3 Months Ended

Mar. 31, 2023

Insurance [Abstract]

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

The liability for unpaid claims for short-duration contracts is reported in other policy claims and benefits on the Company’s condensed consolidated balance sheets. Activity associated with unpaid claims is summarized below (dollars in millions):

	Three months ended March 31,
	2023		2022
Balance, beginning of year	$	2,480	$	2,110
Less: reinsurance recoverable	(57)		(81)
Net balance, beginning of year	2,423		2,029
Incurred:
Current year	363		726
Prior years	(25)		(51)
Total incurred	338		675
Payments:
Current year	(23)		(25)
Prior years	(249)		(260)
Total payments	(272)		(285)
Other changes:
Interest accretion	8		8
Foreign exchange adjustments	(6)		36
Total other changes	2		44
Net balance, end of period	2,491		2,463
Plus: reinsurance recoverable	67		94
Balance, end of period	$	2,558	$	2,557