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Insurance (Tables)
 3 Months Ended
Mar. 31, 2020
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 2020 and 2019 (in millions):
 
Three months ended March 31,
 
2020
 
2019
Balance at beginning of year
$
10,232

 
$
9,741

Less reinsurance recoverables, net of allowance
3,024

 
2,942

Net liability at beginning of year
7,208

 
6,799

Provision for losses and LAE occurring in the current period
749

 
737

Net increase (decrease) in the provision for claims of prior years
(42
)
 
(45
)
Total losses and LAE incurred (*)
707

 
692

Payments for losses and LAE of:
 
 
 
Current year
(75
)
 
(89
)
Prior years
(676
)
 
(615
)
Total payments
(751
)
 
(704
)
Foreign currency translation and other
(22
)
 
1

Net liability at end of period
7,142

 
6,788

Add back reinsurance recoverables, net of allowance
2,964

 
2,835

Gross unpaid losses and LAE included in the balance sheet at end of period
$
10,106

 
$
9,623



(*)
Includes $40 million in losses and LAE incurred in the Neon exited lines in the first three months of 2020.
Reinsurance Recoverable and Premiums Receivable, Allowance for Credit Loss Progressions of the 2020 allowance for expected credit losses are shown below (in millions):
 
Recoverables from Reinsurers
 
Premiums Receivable
Balance at January 1
$
18

 
$
13

Impact of adoption of new accounting policy
(6
)
 
(3
)
Provision (credit) for expected credit losses
1

 
(1
)
Write-offs charged against the allowance
—

 
—

Balance at March 31
$
13

 
$
9