Retroactive reinsurance contracts (Tables)

12 Months Ended

Dec. 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 years ended December 31, 2020 follow (in millions).

	2020						2019						2018
	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 at beginning of year	$	42,441		$	(13,747	)	$	41,834		$	(14,104	)	$	42,937		$	(15,278	)
Incurred losses and loss adjustment expenses:
Current year contracts		—			—			1,138			(453	)		603			(86	)
Prior years’ contracts		(399	)		1,306			378			810			(341	)		1,260
Total		(399	)		1,306			1,516			357			262			1,174
Paid losses and loss adjustment expenses		(1,076	)		—			(909	)		—			(1,365	)		—
Balances at December 31	$	40,966		$	(12,441	)	$	42,441		$	(13,747	)	$	41,834		$	(14,104	)
Incurred losses and loss adjustment expenses, net of deferred charges	$	907					$	1,873					$	1,436