Retroactive reinsurance contracts (Tables)

3 Months Ended

Mar. 31, 2021

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, 2021 and 2020 follow (in millions).

	2021						2020
	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	$	40,966		$	(12,441	)	$	42,441		$	(13,747	)
Incurred losses and loss adjustment expenses:
Current year contracts		—			—			—			—
Prior years’ contracts		(5	)		252			24			259
Total		(5	)		252			24			259
Paid losses and loss adjustment expenses		(276	)		—			(196	)		—
Balances at March 31	$	40,685		$	(12,189	)	$	42,269		$	(13,488	)
Incurred losses and loss adjustment expenses, net of deferred charges	$	247					$	283