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Unpaid Claims and Claims Expense Short Duration Contracts (Tables)
3 Months Ended
Jun. 30, 2024
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):
Six months ended June 30,
20242023
Balance, beginning of year$2,730 $2,480 
Less: reinsurance recoverable(80)(57)
Net balance, beginning of year2,650 2,423 
Incurred:
Current year771 789 
Prior years(55)(55)
Total incurred716 734 
Payments:
Current year(107)(119)
Prior years(532)(539)
Total payments(639)(658)
Other changes:
Interest accretion19 17 
Foreign exchange adjustments(46)(7)
Total other changes(27)10 
Net balance, end of period2,700 2,509 
Plus: reinsurance recoverable69 70 
Balance, end of period$2,769 $2,579