Insurance Claim Reserves (Tables)

9 Months Ended

Sep. 30, 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)	September 30, 2021		December 31, 2020
Property-casualty	$	56,795	$	54,510
Accident and health	10		11
Total	$	56,805	$	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:

	Nine Months Ended September 30,
(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	15,813		14,809
Estimated decrease in claims and claim adjustment expenses for  claims arising in prior years	(398)		(108)
Total increases	15,415		14,701
Claims and claim adjustment expense payments for claims arising in:
Current year	5,653		4,960
Prior years	7,339		7,246
Total payments	12,992		12,206
Unrealized foreign exchange gain	(18)		(62)
Net reserves at end of period	48,762		46,287
Plus reinsurance recoverables on unpaid losses	8,033		8,119
Claims and claim adjustment expense reserves at end of period	$	56,795	$	54,406