Retroactive reinsurance contracts (Tables)

12 Months Ended

Dec. 31, 2023

Insurance [Abstract]

Reconciliation of changes in claim liabilities and incurred losses and loss adjustment expenses

Reconciliations of the changes in estimated liabilities for retroactive reinsurance unpaid losses and loss adjustment expenses for each of the three years ended December 31, 2023 follow (in millions).

	2023			2022			2021
Balance at the beginning of the year	$	35,415		$	37,855		$	40,623
Incurred losses and loss adjustment expenses:
Current year contracts		—			—			153
Prior years’ contracts		1,109			86			(974	)
Total		1,109			86			(821	)
Paid losses and loss adjustment expenses		(1,934	)		(2,358	)		(1,889	)
Foreign currency effect		57			(168	)		(58	)
Balance at December 31	$	34,647		$	35,415		$	37,855
Incurred losses and loss adjustment expenses above	$	1,109		$	86		$	(821	)
Deferred charge amortization and adjustments		375			769			1,802
Incurred losses and loss adjustment expenses included in the Consolidated    Statements of Earnings	$	1,484		$	855		$	981