Insurance Claim Reserves (Tables)

3 Months Ended

Mar. 31, 2021

Insurance Loss Reserves [Abstract]

Claims and claim adjustment expense reserves [Table Text Block]

Claims and claim adjustment expense reserves were as follows:

(in millions)	March 31, 2021		December 31, 2020
Property-casualty	$	55,330	$	54,510
Accident and health	10		11
Total	$	55,340	$	54,521

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:

	Three Months Ended March 31,
(in millions)	2021		2020
Claims and claim adjustment expense reserves at beginning of year	$	54,510	$	51,836
Less reinsurance recoverables on unpaid losses	8,153		8,035
Cumulative effect of adoption of updated accounting guidance for credit losses at January 1, 2020	—		53
Net reserves at beginning of year	46,357		43,854
Estimated claims and claim adjustment expenses for claims arising in the current year	5,242		4,763
Estimated decrease in claims and claim adjustment expenses for  claims arising in prior years	(294)		(3)
Total increases	4,948		4,760
Claims and claim adjustment expense payments for claims arising in:
Current year	1,059		947
Prior years	3,012		3,439
Total payments	4,071		4,386
Unrealized foreign exchange (gain) loss	28		(210)
Net reserves at end of period	47,262		44,018
Plus reinsurance recoverables on unpaid losses	8,068		7,926
Claims and claim adjustment expense reserves at end of period	$	55,330	$	51,944