Insurance Claim Reserves (Tables)

9 Months Ended

Sep. 30, 2020

Insurance Loss Reserves [Abstract]

Claims and claim adjustment expense reserves [Table Text Block]

Claims and claim adjustment expense reserves were as follows:

(in millions)	September 30, 2020		December 31, 2019
Property-casualty	$	54,406	$	51,836
Accident and health	12		13
Total	$	54,418	$	51,849

Reconciliation of beginning and ending property casualty reserve balances for claims and claim adjustment expenses [Table Text Block]

The following table presents a reconciliation of beginning and ending property casualty reserve balances for claims and claim adjustment expenses:

	Nine Months Ended September 30,
(in millions)	2020		2019
Claims and claim adjustment expense reserves at beginning of year	$	51,836	$	50,653
Less reinsurance recoverables on unpaid losses	8,035		8,182
Cumulative effect of adoption of updated accounting guidance for credit losses at January 1, 2020	53		—
Net reserves at beginning of year	43,854		42,471
Estimated claims and claim adjustment expenses for claims arising in the current year	14,809		14,193
Estimated increase (decrease) in claims and claim adjustment expenses for claims arising in prior years	(108)		214
Total increases	14,701		14,407
Claims and claim adjustment expense payments for claims arising in:
Current year	4,960		5,174
Prior years	7,246		8,034
Total payments	12,206		13,208
Unrealized foreign exchange (gain) loss	(62)		12
Net reserves at end of period	46,287		43,682
Plus reinsurance recoverables on unpaid losses	8,119		7,916
Claims and claim adjustment expense reserves at end of period	$	54,406	$	51,598