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Reserve for Losses and Loss Adjustment Expenses - Reconciliation of beginning and ending balances of losses and loss adjustment reserves (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]      
Reserve for losses and loss adjustment expenses at beginning of year $ 22,752 $ 20,032 $ 17,757
Unpaid losses and loss adjustment expenses recoverable 6,690 6,280 5,599
Net reserve for losses and loss adjustment expenses at beginning of year 16,062 13,752 12,158
Net incurred losses and loss adjustment expenses relating to losses occurring in:      
Current year 8,849 6,784 5,797
Prior years (507) (538) (769)
Total net incurred losses and loss adjustment expenses 8,342 6,246 5,028
Net losses and loss adjustment expense reserves of acquired business [1] 2,477 0 0
Foreign exchange (gains) losses and other (260) 157 (293)
Net paid losses and loss adjustment expenses relating to losses occurring in:      
Current year (1,176) (1,081) (888)
Prior years (3,897) (3,012) (2,253)
Total net paid losses and loss adjustment expenses (5,073) (4,093) (3,141)
Net reserve for losses and loss adjustment expenses at end of year 21,548 16,062 13,752
Unpaid losses and loss adjustment expenses recoverable 7,821 6,690 6,280
Reserve for losses and loss adjustment expenses at end of year $ 29,369 $ 22,752 $ 20,032
[1] Activity in the 2024 period primarily related to the MCE Acquisition (see note 2), along with acquisitions of Watford Insurance Company (see note 16) and RMIC Companies, Inc. and its wholly-owned subsidiaries (“RMIC”) that, together, comprise the run-off mortgage insurance business of Old Republic International Corporation