Retroactive reinsurance contracts (Tables)

9 Months Ended

Sep. 30, 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 nine months ending September 30, 2020 and 2019 follow (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 at beginning of year	$	42,441		$	(13,747	)	$	41,834		$	(14,104	)
Incurred losses and loss adjustment expenses:
Current year contracts		—			—			175			(82	)
Prior years’ contracts		131			735			(2	)		827
Total		131			735			173			745
Paid losses and loss adjustment expenses		(786	)		—			(643	)		—
Balances at September 30	$	41,786		$	(13,012	)	$	41,364		$	(13,359	)
Incurred losses and loss adjustment expenses, net of deferred charges	$	866					$	918