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Retroactive reinsurance contracts (Tables)
 9 Months Ended
Sep. 30, 2018
Text Block [Abstract]  
Reconciliation of changes in retroactive reinsurance claim liabilities and deferred charge assets

Reconciliations of the changes in estimated liabilities for retroactive reinsurance unpaid losses and loss adjustment expenses (“claim liabilities”) and related deferred charge reinsurance assumed assets for the nine months ending September 30, 2018 and 2017 follows (in millions).

 

     2018      2017  
     Unpaid losses
and loss
adjustment
expenses		      Deferred
charges
reinsurance
assumed		      Unpaid losses
and loss
adjustment
expenses		      Deferred
charges
reinsurance
assumed		  

Balances – beginning of year:

     $ 42,937      $ (15,278)     $ 24,972      $ (8,047)
  

 

 

     

 

 

     

 

 

     

 

 

  

Incurred losses and loss adjustment expenses

            

Current year contracts

      —         —         17,213       (6,170)  

Prior years’ contracts

      (36)        827       (409)        645 
  

 

 

     

 

 

     

 

 

     

 

 

  

Total

      (36)        827       16,804       (5,525)  
  

 

 

     

 

 

     

 

 

     

 

 

  

Paid losses and loss adjustment expenses

      (966)        —         (783)        —   
  

 

 

     

 

 

     

 

 

     

 

 

  

Balances – September 30:

     $     41,935      $     (14,451)     $     40,993      $     (13,572)
  

 

 

     

 

 

     

 

 

     

 

 

  

Incurred losses and loss adjustment expenses, net of deferred charges

     $ 791         $ 11,279