REINSURANCE (Tables)
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12 Months Ended |
Dec. 31, 2019 |
Effects of Reinsurance [Line Items] |
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Supplemental information for gross loss and benefit reserves net of ceded reinsurance |
At December 31, | | 2019 | | | 2018 | | | As | | Net of | | | As | | Net of | (in millions) | | Reported | Reinsurance | | | Reported | Reinsurance | Liability for unpaid losses and loss adjustment expenses | $ | (78,328) | $ | (47,259) | | $ | (83,639) | $ | (51,949) | Future policy benefits for life and accident and health insurance contracts | | (50,512) | | (49,670) | | | (44,935) | | (43,936) | Policyholder contract deposits | | (151,869) | | (150,944) | | | (142,262) | | (141,407) | Reserve for unearned premiums | | (18,269) | | (15,067) | | | (19,248) | | (16,300) | Reinsurance assets(a) | | 36,038 | | | | | 36,492 | | | (a)Reinsurance assets excludes (i) allowance for doubtful accounts of $111 million and $140 million for the years ended December 31, 2019 and 2018, respectively, and (ii) paid loss recoveries of $2,050 million and $1,820 million for the years ended December 31, 2019 and 2018, respectively.
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Schedule of long-duration insurance in force ceded to other insurance companies |
At December 31, | | | | | | | (in millions) | | 2019 | | 2018 | | 2017 | Long-duration insurance in force ceded | $ | 264,732 | $ | 228,846 | $ | 202,402 |
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Short-Duration Reinsurance |
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Effects of Reinsurance [Line Items] |
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Schedule of insurance premiums written and earned |
| Years Ended December 31, | (in millions) | | 2019 | | 2018 | | 2017 | Premiums written: | | | | | | | Direct | $ | 29,338 | $ | 30,368 | $ | 30,229 | Assumed | | 5,808 | | 4,186 | | 3,065 | Ceded | | (9,692) | | (7,757) | | (7,535) | Net | $ | 25,454 | $ | 26,797 | $ | 25,759 | Premiums earned: | | | | | | | Direct | $ | 30,017 | $ | 31,450 | $ | 30,928 | Assumed | | 6,395 | | 4,638 | | 3,374 | Ceded | | (9,526) | | (8,164) | | (7,904) | Net | $ | 26,886 | $ | 27,924 | $ | 26,398 |
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Long-Duration Reinsurance |
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Effects of Reinsurance [Line Items] |
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Schedule of insurance premiums written and earned |
Years Ended December 31, | | | | | | | (in millions) | | 2019 | | 2018 | | 2017 | Premiums | | | | | | | Direct | $ | 4,363 | $ | 3,489 | $ | 5,771 | Assumed | | 228 | | 56 | | 15 | Ceded | | (916) | | (855) | | (810) | Net | $ | 3,675 | $ | 2,690 | $ | 4,976 | Policy Fees | | | | | | | Direct | $ | 3,016 | $ | 2,792 | $ | 2,936 | Assumed | | - | | - | | - | Ceded | | (1) | | (1) | | (1) | Net | $ | 3,015 | $ | 2,791 | $ | 2,935 |
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