Liability for Policy and Contract Claims (Tables)

6 Months Ended

Jun. 30, 2020

Changes in Liability for Policy and Contract Claims

The following table sets forth changes in our liability for policy and contract claims as of the dates indicated:

	As of or for the six months ended June 30,
(Amounts in millions)	2020			2019
Beginning balance	$	10,958		$	10,295
Less reinsurance recoverables		(2,406	)		(2,379	)
Net beginning balance		8,552			7,916
Incurred related to insured events of:
Current year		2,238			1,961
Prior years		(255	)		(206	)
Total incurred		1,983			1,755
Paid related to insured events of:
Current year		(436	)		(407	)
Prior years		(1,339	)		(1,253	)
Total paid		(1,775	)		(1,660	)
Interest on liability for policy and contract claims		205			188
Foreign currency translation		(4	)		(1	)
Net ending balance		8,961			8,198
Add reinsurance recoverables		2,319			2,388
Ending balance	$	11,280		$	10,586