XML 104 R86.htm IDEA: XBRL DOCUMENT v3.25.0.1
Reinsurance Contract Assets Held - Movements in reinsurance contract assets held (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Jan. 01, 2024
Jan. 01, 2023
Assets for remaining coverage (ARC)        
Cash flows:        
Loss recovery component $ 73.4 $ 23.0 $ 23.0 $ 50.1
Assets for remaining coverage (ARC) | Reinsurance contracts assets held        
Cash flows:        
Premiums paid (54.1)      
Net reinsurance 54.1      
Global Insurers and Reinsurers | Insurance contracts liabilities        
Changes in the consolidated statement of comprehensive income:        
Recoveries of incurred claims and other insurance service expenses (647.3) (677.1)    
Net finance income (expense) from reinsurance contract assets held (992.6) (1,401.4)    
Cash flows:        
Release of risk adjustment for non-financial risk as claims are paid (630.2) (589.9)    
Global Insurers and Reinsurers | Reinsurance contracts assets held        
Cash flows:        
Release of risk adjustment for non-financial risk as claims are paid (217.4) (200.9)    
Global Insurers and Reinsurers | Estimates of present value of future cash flows | Insurance contracts liabilities        
Changes in the consolidated statement of comprehensive income:        
Recoveries of incurred claims and other insurance service expenses (8,788.7) (9,596.8)    
Global Insurers and Reinsurers | Estimates of present value of future cash flows | Reinsurance contracts assets held        
Changes in the consolidated statement of comprehensive income:        
Recoveries of incurred claims and other insurance service expenses 1,677.0 1,996.4    
Net finance income (expense) from reinsurance contract assets held   392.6    
Cash flows:        
Premiums paid 266.0      
Net reinsurance (266.0)      
Global Insurers and Reinsurers | Risk adjustment for non-financial risk | Reinsurance contracts assets held        
Changes in the consolidated statement of comprehensive income:        
Recoveries of incurred claims and other insurance service expenses 167.7 219.3    
Global Insurers and Reinsurers | Assets for incurred claims | Estimates of present value of future cash flows | Insurance contracts liabilities        
Cash flows:        
Insurance contracts, favorable (adverse) prior year reserve development 32.0 (43.8)    
North American Insurers | Insurance contracts liabilities        
Changes in the consolidated statement of comprehensive income:        
Net finance income (expense) from reinsurance contract assets held (389.3) (407.6)    
Cash flows:        
Release of risk adjustment for non-financial risk as claims are paid (156.5) (155.9)    
North American Insurers | Reinsurance contracts assets held        
Cash flows:        
Release of risk adjustment for non-financial risk as claims are paid (43.2) (40.4)    
North American Insurers | Estimates of present value of future cash flows | Insurance contracts liabilities        
Changes in the consolidated statement of comprehensive income:        
Recoveries of incurred claims and other insurance service expenses (5,297.1) (5,104.1)    
North American Insurers | Estimates of present value of future cash flows | Reinsurance contracts assets held        
Changes in the consolidated statement of comprehensive income:        
Recoveries of incurred claims and other insurance service expenses 916.2 973.7    
Net finance income (expense) from reinsurance contract assets held   49.7    
Cash flows:        
Premiums paid 51.7      
Net reinsurance (51.7)      
North American Insurers | Risk adjustment for non-financial risk | Insurance contracts liabilities        
Changes in the consolidated statement of comprehensive income:        
Recoveries of incurred claims and other insurance service expenses (237.1) (191.1)    
North American Insurers | Risk adjustment for non-financial risk | Reinsurance contracts assets held        
Changes in the consolidated statement of comprehensive income:        
Recoveries of incurred claims and other insurance service expenses 51.7 53.1    
North American Insurers | Assets for incurred claims | Estimates of present value of future cash flows | Insurance contracts liabilities        
Cash flows:        
Insurance contracts, favorable (adverse) prior year reserve development 81.7 53.0    
International Insurers and Reinsurers | Insurance contracts liabilities        
Changes in the consolidated statement of comprehensive income:        
Net finance income (expense) from reinsurance contract assets held (252.7) (156.7)    
Cash flows:        
Release of risk adjustment for non-financial risk as claims are paid (59.3)      
International Insurers and Reinsurers | Estimates of present value of future cash flows | Insurance contracts liabilities        
Changes in the consolidated statement of comprehensive income:        
Recoveries of incurred claims and other insurance service expenses (4,320.4) (1,779.7)    
International Insurers and Reinsurers | Estimates of present value of future cash flows | Reinsurance contracts assets held        
Changes in the consolidated statement of comprehensive income:        
Recoveries of incurred claims and other insurance service expenses 1,530.7 526.1    
Net finance income (expense) from reinsurance contract assets held   78.6    
Cash flows:        
Premiums paid 143.4      
Net reinsurance (143.4)      
International Insurers and Reinsurers | Risk adjustment for non-financial risk | Insurance contracts liabilities        
Changes in the consolidated statement of comprehensive income:        
Recoveries of incurred claims and other insurance service expenses (167.5) (103.0)    
International Insurers and Reinsurers | Risk adjustment for non-financial risk | Reinsurance contracts assets held        
Changes in the consolidated statement of comprehensive income:        
Recoveries of incurred claims and other insurance service expenses 86.2 57.7    
International Insurers and Reinsurers | Assets for incurred claims | Estimates of present value of future cash flows | Insurance contracts liabilities        
Cash flows:        
Insurance contracts, favorable (adverse) prior year reserve development (40.3) 217.8    
International Insurers and Reinsurers | Gulf Insurance | Reinsurance contracts assets held        
Cash flows:        
Insurance acquisition cash flows 959.1      
International Insurers and Reinsurers | Gulf Insurance | Estimates of present value of future cash flows        
Cash flows:        
Insurance acquisition cash flows 2,482.1      
Property and Casualty Insurance and Reinsurance | Insurance contracts liabilities        
Reinsurance Contract Assets Held        
Beginning Balance (41,792.7) (36,489.8)    
Changes in the consolidated statement of comprehensive income:        
Cost of reinsurance 29,589.0 26,095.0    
Recoveries of incurred claims and other insurance service expenses (19,577.6) (17,370.6)    
Prior year reserve development and release of risk adjustment on prior year claims 1,078.8 868.0    
Recoveries of insurance service expenses (23,623.7) (21,221.7)    
Net reinsurance result 5,965.3 4,873.3    
Net finance income (expense) from reinsurance contract assets held (1,634.0) (1,969.9)    
Total changes in the consolidated statement of comprehensive income 5,138.1 2,817.6    
Cash flows:        
Amounts received (29,692.6) (27,191.2)    
Changes in funds withheld 41.1 (120.5)    
Total changes from cash flows (6,234.4) (6,577.2)    
Investment components and other (20.0) 23.3    
Contracts recognized on acquisition of subsidiary   1,566.6    
Ending Balance (42,909.0) (41,792.7)    
Insurance acquisition cash flows (5,569.1) (5,196.6)    
Property and Casualty Insurance and Reinsurance | Reinsurance contracts assets held        
Reinsurance Contract Assets Held        
Beginning Balance 9,853.7 8,674.2    
Changes in the consolidated statement of comprehensive income:        
Cost of reinsurance (6,004.8) (4,759.6)    
Recoveries of incurred claims and other insurance service expenses 4,480.5 3,798.5    
Prior year reserve development and release of risk adjustment on prior year claims (218.5) (39.4)    
Recoveries of insurance service expenses 4,262.0 3,759.1    
Net reinsurance result (1,742.8) (1,000.5)    
Net finance income (expense) from reinsurance contract assets held 460.9 521.7    
Foreign exchange effects (189.4) (132.8)    
Total changes in the consolidated statement of comprehensive income (1,471.3) (611.6)    
Cash flows:        
Premiums paid 5,804.4 4,786.2    
Amounts received (4,403.2) (3,502.6)    
Changes in funds withheld (40.4) (17.7)    
Total changes from cash flows 1,360.8 1,265.9    
Investment components and other 6.4 0.8    
Contracts recognized on acquisition of subsidiary (1.3) 524.4    
Ending Balance 9,748.3 9,853.7    
Net reinsurance (5,804.4) (4,786.2)    
Property and Casualty Insurance and Reinsurance | Assets for remaining coverage (ARC) | Reinsurance contracts assets held        
Reinsurance Contract Assets Held        
Beginning Balance 180.1 (144.0)    
Changes in the consolidated statement of comprehensive income:        
Cost of reinsurance (6,004.8) (4,759.6)    
Recoveries of incurred claims and other insurance service expenses 51.0 (27.8)    
Recoveries of insurance service expenses 51.0 (27.8)    
Net reinsurance result (5,953.8) (4,787.4)    
Net finance income (expense) from reinsurance contract assets held (0.2) 0.8    
Foreign exchange effects 7.9 (41.9)    
Total changes in the consolidated statement of comprehensive income (5,946.1) (4,828.5)    
Cash flows:        
Premiums paid 5,804.4 4,786.2    
Changes in funds withheld (4.7) (3.1)    
Total changes from cash flows 5,799.7 4,783.1    
Investment components and other (582.4) (7.2)    
Contracts recognized on acquisition of subsidiary   376.7    
Ending Balance (548.7) 180.1    
Net reinsurance (5,804.4) (4,786.2)    
Property and Casualty Insurance and Reinsurance | Assets for incurred claims | Estimates of present value of future cash flows | Reinsurance contracts assets held        
Reinsurance Contract Assets Held        
Beginning Balance 8,821.0 8,011.6    
Changes in the consolidated statement of comprehensive income:        
Recoveries of incurred claims and other insurance service expenses 4,123.9 3,496.2    
Prior year reserve development and release of risk adjustment on prior year claims 73.4 227.0    
Recoveries of insurance service expenses 4,197.3 3,723.2    
Net reinsurance result 4,197.3 3,723.2    
Net finance income (expense) from reinsurance contract assets held 461.1 520.9    
Foreign exchange effects (181.6) (59.0)    
Total changes in the consolidated statement of comprehensive income 4,476.8 4,185.1    
Cash flows:        
Amounts received (4,403.2) (3,502.6)    
Changes in funds withheld (35.7) (14.6)    
Total changes from cash flows (4,438.9) (3,517.2)    
Investment components and other 592.2 8.0    
Contracts recognized on acquisition of subsidiary (1.3) 133.5    
Ending Balance 9,449.8 8,821.0    
Property and Casualty Insurance and Reinsurance | Assets for incurred claims | Risk adjustment for non-financial risk | Reinsurance contracts assets held        
Reinsurance Contract Assets Held        
Beginning Balance 852.6 806.6    
Changes in the consolidated statement of comprehensive income:        
Recoveries of incurred claims and other insurance service expenses 305.6 330.1    
Prior year reserve development and release of risk adjustment on prior year claims (291.9) (266.4)    
Recoveries of insurance service expenses 13.7 63.7    
Net reinsurance result 13.7 63.7    
Foreign exchange effects (15.7) (31.9)    
Total changes in the consolidated statement of comprehensive income (2.0) 31.8    
Cash flows:        
Investment components and other (3.4)      
Contracts recognized on acquisition of subsidiary   14.2    
Ending Balance 847.2 $ 852.6    
Property and Casualty Insurance and Reinsurance | Gulf Insurance | Insurance contracts liabilities        
Changes in the consolidated statement of comprehensive income:        
Cost of reinsurance (3,239.0)      
Recoveries of incurred claims and other insurance service expenses (2,920.6)      
Cash flows:        
Incurred claims and acquired contracts 713.2      
Property and Casualty Insurance and Reinsurance | Gulf Insurance | Reinsurance contracts assets held        
Changes in the consolidated statement of comprehensive income:        
Recoveries of incurred claims and other insurance service expenses 1,064.5      
Cash flows:        
Cost of reinsurance 1,301.3      
Acquired contracts 338.8      
Incurred claims and acquired contracts $ 392.9