Unpaid Claims and Claims Expense Short Duration Contracts (Tables)

3 Months Ended

Sep. 30, 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):

	Nine months ended September 30,
	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	1,268		1,419
Prior years	(89)		(100)
Total incurred	1,179		1,319
Payments:
Current year	(278)		(250)
Prior years	(721)		(688)
Total payments	(999)		(938)
Other changes:
Interest accretion	25		21
Foreign exchange adjustments	(45)		(128)
Total other changes	(20)		(107)
Net balance, end of period	2,583		2,303
Plus: reinsurance recoverable	71		63
Balance, end of period	$	2,654	$	2,366