POLICY LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2022

Liability for Future Policy Benefits by Product Segment

The liability for future policy benefits as of December 31 consisted of the following:


	Liability Amounts				Interest Rate Assumptions
(In millions)	2022		2021
Health insurance
Japan	$	42,936	$	49,421	0.6 - 6.75	%
U.S.	8,972		8,949		3.0 - 8.0
Intercompany eliminations (1)	(367)		(456)		2.0
Life insurance
Japan	28,218		31,756		0.6 - 4.0
U.S.	990		918		2.5 - 6.0
Total	$	80,749	$	90,588

(1) Elimination entry necessary due to recapture of a portion of policy liabilities ceded externally, as a result of the reinsurance retrocession transaction as described in Note 8 of the Notes to the Consolidated Financial Statements

Schedule of Liability for Unpaid Claims Adjustment Expense

Changes in the liability for unpaid policy claims were as follows for the years ended December 31:


(In millions)	2022			2021			2020
Unpaid supplemental health claims, beginning of period		$	4,067		$	4,389		$	3,968
Less reinsurance recoverables		37			39			30
Net balance, beginning of period		4,030			4,350			3,938
Add claims incurred during the period related to:
Current year		6,412			6,969			7,179
Prior years		(633)			(860)			(540)
Total incurred		5,779			6,109			6,639
Less claims paid during the period on claims incurred during:
Current year		3,973			4,356			4,488
Prior years		1,736			1,827			1,966
Total paid		5,709			6,183			6,454
Effect of foreign exchange rate changes on unpaid claims		(289)			(246)			128
Zurich acquisition		0			0			99
Net balance, end of period		3,811			4,030			4,350
Add reinsurance recoverables		43			37			39
Unpaid supplemental health claims, end of period		3,854			4,067			4,389
Unpaid life claims, end of period		707			769			798
Total liability for unpaid policy claims		$	4,561		$	4,836		$	5,187