Reinsurance (Tables)

12 Months Ended

Dec. 31, 2020

Reinsurance Disclosures [Abstract]

Summary of reinsurance financial data [Table Text Block]

The following is a summary of reinsurance financial data reflected in the consolidated statement of income:

(for the year ended December 31, in millions)	2020			2019			2018
Written premiums
Direct	$	30,762		$	30,022		$	28,210
Assumed	1,001			1,041			1,042
Ceded	(2,031)			(1,912)			(1,544)
Total net written premiums	$	29,732		$	29,151		$	27,708
Earned premiums
Direct	$	29,978		$	28,994		$	27,536
Assumed	1,010			1,076			1,024
Ceded	(1,944)			(1,798)			(1,501)
Total net earned premiums	$	29,044		$	28,272		$	27,059
Percentage of assumed earned premiums to net earned premiums	3.5		%	3.8		%	3.8		%
Ceded claims and claim adjustment expenses incurred	$	1,030		$	1,089		$	1,293

Reinsurance recoverables [Table Text Block]

Reinsurance recoverables include amounts recoverable on both paid and unpaid claims and claim adjustment expenses and were as follows:

(at December 31, in millions)	2020		2019
Gross reinsurance recoverables on paid and unpaid claims and claim adjustment expenses	$	3,731	$	3,476
Gross structured settlements	2,964		2,965
Mandatory pools and associations	1,801		1,886
Gross reinsurance recoverables	8,496		8,327
Allowance for estimated uncollectible reinsurance	(146)		(92)
Net reinsurance recoverables	$	8,350	$	8,235