Retroactive reinsurance contracts (Tables)

12 Months Ended

Dec. 31, 2019

Insurance [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 each of the three years ended December 31, 2019 follows (in millions).

	2019						2018						2017
	Unpaid losses and loss adjustment expenses			Deferred charges reinsurance assumed			Unpaid losses and loss adjustment expenses			Deferred charges reinsurance assumed			Unpaid losses and loss adjustment expenses			Deferred charges reinsurance assumed
Balances – beginning of year	$	41,834		$	(14,104	)	$	42,937		$	(15,278	)	$	24,972		$	(8,047	)
Incurred losses and loss adjustment expenses
Current year contracts		1,138			(453	)		603			(86	)		19,005			(7,730	)
Prior years’ contracts		378			810			(341	)		1,260			(41	)		499
Total		1,516			357			262			1,174			18,964			(7,231	)
Paid losses and loss adjustment expenses		(909	)		—			(1,365	)		—			(999	)		—
Balances – end of year	$	42,441		$	(13,747	)	$	41,834		$	(14,104	)	$	42,937		$	(15,278	)
Incurred losses and loss adjustment expenses, net of deferred charges	$	1,873					$	1,436					$	11,733