Retroactive reinsurance contracts (Tables)

3 Months Ended

Mar. 31, 2020

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 months ending March 31, 2020 and 2019 follows (in millions).

	2020						2019
	Unpaid losses and loss adjustment expenses			Deferred charges reinsurance assumed			Unpaid losses and loss adjustment expenses			Deferred charges reinsurance assumed
Balances – beginning of year:	$	42,441		$	(13,747	)	$	41,834		$	(14,104	)
Incurred losses and loss adjustment expenses
Current year contracts		—			—			—			—
Prior years’ contracts		24			259			2			273
Total		24			259			2			273
Paid losses and loss adjustment expenses		(196	)		—			(203	)		—
Balances – March 31:	$	42,269		$	(13,488	)	$	41,633		$	(13,831	)
Incurred losses and loss adjustment expenses, net of deferred charges	$	283					$	275