Insurance (Tables)

3 Months Ended

Mar. 31, 2017

Insurance [Abstract]

Reconciliation of beginning and ending liability for unpaid losses and loss adjustment expenses

The following table provides an analysis of changes in the liability for losses and loss adjustment expenses during the first three months of 2017 and 2016 (in millions):

	Three months ended March 31,
	2017			2016
Balance at beginning of year	$	8,563		$	8,127
Less reinsurance recoverables, net of allowance	2,302			2,201
Net liability at beginning of year	6,261			5,926
Provision for losses and LAE occurring in the current period	637			609
Net increase (decrease) in the provision for claims of prior years	(28		)	(28		)
Total losses and LAE incurred	609			581
Payments for losses and LAE of:
Current year	(84		)	(80		)
Prior years	(470		)	(467		)
Total payments	(554		)	(547		)
Foreign currency translation and other	8			11
Net liability at end of period	6,324			5,971
Add back reinsurance recoverables, net of allowance	2,297			2,137
Gross unpaid losses and LAE included in the balance sheet at end of period	$	8,621		$	8,108