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Insurance Claim Reserves (Tables)
 12 Months Ended
Dec. 31, 2024
Insurance Loss Reserves [Abstract]  
Claims and claim adjustment expense reserves [Table Text Block]
Claims and claim adjustment expense reserves were as follows:
(at December 31, in millions)20242023
Property-casualty$64,088 $61,621 
Accident and health5 6 
Total$64,093 $61,627 
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:
(at and for the year ended December 31, in millions)202420232022
Claims and claim adjustment expense reserves at beginning of year$61,621 $58,643 $56,897 
Less reinsurance recoverables on unpaid losses7,817 7,790 8,209 
Net reserves at beginning of year53,804 50,853 48,688 
Estimated claims and claim adjustment expenses for claims arising in the current year
27,508 26,159 23,308 
Estimated decrease in claims and claim adjustment expenses for claims arising in prior years(548)(38)(537)
Total increases26,960 26,121 22,771 
Claims and claim adjustment expense payments for claims arising in:
Current year10,924 10,852 9,406 
Prior years13,227 12,424 10,945 
Total payments24,151 23,276 20,351 
Unrealized foreign exchange (gain) loss(194)106 (255)
Net reserves at end of year56,419 53,804 50,853 
Plus reinsurance recoverables on unpaid losses7,669 7,817 7,790 
Claims and claim adjustment expense reserves at end of year$64,088 $61,621 $58,643 
Summary of claims and claim adjustment expense reserves, including certain components, for the Company's major product lines by reporting segment [Table Text Block]
The following is a summary of claims and claim adjustment expense reserves, including certain components, for the Company’s major product lines by reporting segment at December 31, 2024.
(at December 31, 2024, in millions)Net Undiscounted
Claims and Claim
Adjustment Expense
Reserves		Discount
(Net of
Reinsurance)		Subtotal:
Net Claims and Claim Adjustment
Expense Reserves		Reinsurance
Recoverables on
Unpaid Losses (4)		Claims and Claim
Adjustment
Expense
Reserves
Business Insurance
General liability$11,100 $(124)$10,976 $1,140 $12,116 
Commercial property1,266 — 1,266 358 1,624 
Commercial multi-peril5,758 — 5,758 318 6,076 
Commercial automobile4,791 — 4,791 298 5,089 
Workers’ compensation (1)
15,757 (900)14,857 554 15,411 
Bond & Specialty Insurance
General liability2,681 — 2,681 339 3,020 
Fidelity and surety714 — 714 8 722 
Personal Insurance
Automobile4,302 — 4,302 320 4,622 
Homeowners (excluding Other)2,275 — 2,275 37 2,312 
International - Canada795 — 795 14 809 
Subtotal — claims and allocated claim adjustment expenses for the products presented in the development tables below
49,439 (1,024)48,415 3,386 51,801 
Other insurance contracts (2)
5,036 (4)5,032 1,735 6,767 
Unallocated loss adjustment expense reserves
2,880 — 2,880 17 2,897 
Structured settlements (3)
— — — 2,583 2,583 
Other92 — 92 (52)40 
Total property-casualty57,447 (1,028)56,419 7,669 64,088 
Accident and health— — — 5 5 
Total$57,447 $(1,028)$56,419 $7,674 $64,093 
___________________________________________
(1)Net discount amount includes discount of $42 million on reinsurance recoverables for long-term disability and annuity claim payments.
(2)Primarily includes residual market, international (other than operations in Canada within the Personal Insurance segment) and runoff assumed reinsurance business.
(3)Includes structured settlements in cases where the Company did not receive a release from the claimant.
(4)Total reinsurance recoverables (on paid and unpaid losses) at December 31, 2024 were $8.00 billion.
Allocated claim adjustment expense, by accident year, on a historical basis for incurred and paid claims on an undiscounted, net of reinsurance basis [Table Text Block]
Business Insurance
General Liability
(dollars in millions)
For the Years Ended December 31,
2015201620172018201920202021202220232024
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
Unaudited
Accident YearIBNR Reserves Dec 31, 2024Cumulative Number of Reported Claims
2015$998 $956 $923 $967 $1,057 $1,087 $1,072 $1,082 $1,110 $1,100 $70 22,069 
20161,075 1,058 1,087 1,187 1,204 1,179 1,185 1,183 1,173 99 20,947 
20171,133 1,143 1,196 1,234 1,226 1,243 1,288 1,306 117 19,913 
20181,253 1,312 1,344 1,395 1,477 1,530 1,571 134 20,059 
20191,447 1,486 1,498 1,567 1,706 1,698 216 19,730 
20201,467 1,493 1,470 1,577 1,568 322 19,208 
20211,591 1,589 1,628 1,711 575 15,694 
20221,696 1,736 1,916 851 18,258 
20231,998 2,060 1,432 16,973 
20242,340 2,120 12,629 
Total$16,443 
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
Accident YearUnaudited
2015$36 $137 $336 $558 $740 $828 $875 $927 $975 $1,002 
201635 191 421 649 758 858 951 991 1,031 
201740 180 378 552 724 914 1,029 1,111 
201842 202 441 709 939 1,146 1,270 Liability for Claims
201951 233 482 816 1,074 1,276 And Allocated Claim
202061 244 458 770 1,031 Adjustment Expenses,
202167 231 493 826 Net of Reinsurance
202281 302 668 
202354 280 2015 -Before
202455 20242015
Total$8,550 $7,893 $3,207 
Total net liability$11,100 
Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Unaudited
Years12345678910
3.2 %10.9 %16.4 %18.4 %14.3 %11.2 %7.2 %4.8 %3.9 %2.5 %
Commercial Property
(dollars in millions)
For the Years Ended December 31,
20202021202220232024
Incurred Claims and Allocated Claims Adjustment Expenses, Net of Reinsurance
Unaudited
Accident YearIBNR Reserves December 31, 2024Cumulative Number of Reported Claims
2020$1,107 $1,025 $1,005 $993 $983 $33 25,713 
20211,236 1,190 1,190 1,201 (5)25,796 
20221,309 1,369 1,372 3 28,896 
20231,268 1,244 7 29,166 
20241,474 201 25,257 
Total$6,274 
Cumulative Paid Claims and Allocated Claim
Adjustment Expenses, Net of Reinsurance
Unaudited
Liability for Claims
Accident YearAnd Allocated Claim
2020$580 $857 $907 $932 $939 Adjustment Expenses,
2021645 1,068 1,141 1,169 Net of Reinsurance
2022624 1,113 1,247 
2023614 1,049 2020 -Before
2024702 20242020
Total$5,106 $1,168 $98 
Total net liability$1,266 
Average Annual Percentage Payout of Incurred
Claims by Age, Net of Reinsurance
 Unaudited
Years12345
 51.0 %33.5 %7.0 %2.5 %0.7 %
Commercial Multi-Peril
(dollars in millions)
For the Years Ended December 31,
2015201620172018201920202021202220232024
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
Unaudited
Accident YearIBNR Reserves December 31, 2024Cumulative Number of Reported Claims
2015$1,568 $1,625 $1,593 $1,597 $1,606 $1,593 $1,584 $1,571 $1,563 $1,564 $14 73,061 
20161,662 1,623 1,598 1,590 1,601 1,587 1,579 1,578 1,590 19 69,612 
20171,872 1,928 1,956 1,919 1,935 1,943 1,930 1,928 43 72,767 
20181,976 2,114 2,092 2,112 2,121 2,127 2,125 56 80,273 
20192,017 2,087 2,089 2,103 2,103 2,110 78 75,593 
20202,142 2,141 2,126 2,111 2,061 216 70,726 
20212,164 2,097 2,097 2,107 238 58,432 
20222,502 2,533 2,569 436 54,444 
20232,781 2,811 716 52,398 
20242,946 1,255 42,267 
Total$21,811 
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
Accident YearUnaudited
2015$595 $970 $1,144 $1,310 $1,409 $1,452 $1,489 $1,512 $1,523 $1,535 
2016585 950 1,133 1,278 1,373 1,437 1,477 1,510 1,547 
2017716 1,199 1,388 1,531 1,674 1,763 1,815 1,843 
2018792 1,302 1,500 1,669 1,815 1,917 1,986 Liability for Claims
2019707 1,187 1,423 1,628 1,801 1,916 And Allocated Claim
2020791 1,180 1,373 1,547 1,687 Adjustment Expenses,
2021744 1,206 1,437 1,616 Net of Reinsurance
2022817 1,476 1,752 
2023935 1,603 2015 -Before
2024906 20242015
Total$16,391 $5,420 $338 
Total net liability$5,758 
Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Unaudited
Years12345678910
35.2 %23.2 %10.5 %8.8 %6.9 %4.3 %2.7 %1.7 %1.5 %0.8 %
Commercial Automobile
(dollars in millions)
For the Years Ended December 31,
20202021202220232024
Incurred Claims and Allocated Claims Adjustment
Expenses, Net of Reinsurance
Unaudited
Accident YearIBNR Reserves December 31, 2024Cumulative Number of Reported Claims
2020$1,788 $1,677 $1,621 $1,558 $1,551 $102 143,151 
20211,741 1,757 1,786 1,800 181 149,164 
20221,939 2,040 2,050 365 160,389 
20232,245 2,222 744 166,691 
20242,544 1,493 150,376 
Total$10,167 
Cumulative Paid Claims and Allocated Claim
Adjustment Expenses, Net of Reinsurance
Unaudited
Liability for Claims
Accident YearAnd Allocated Claim
2020$437 $696 $958 $1,192 $1,345 Adjustment Expenses,
2021453 800 1,135 1,405 Net of Reinsurance
2022540 966 1,324 
2023589 1,006 2020 -Before
2024604 20242020
Total$5,684 $4,483 $308 
Total net liability$4,791 
Average Annual Percentage Payout of Incurred
Claims by Age, Net of Reinsurance
Unaudited
Years12345
26.0 %18.9 %17.7 %15.0 %9.8 %
Workers’ Compensation
(dollars in millions)
For the Years Ended December 31,
2015201620172018201920202021202220232024
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
Unaudited
Accident YearIBNR Reserves December 31, 2024Cumulative Number of Reported Claims
2015$2,644 $2,585 $2,505 $2,441 $2,372 $2,279 $2,220 $2,155 $2,097 $2,050 $292 131,266 
20162,768 2,690 2,569 2,473 2,372 2,300 2,235 2,151 2,111 262 132,057 
20172,779 2,681 2,584 2,483 2,439 2,342 2,243 2,190 338 129,935 
20182,744 2,687 2,599 2,503 2,416 2,318 2,245 381 132,125 
20192,680 2,714 2,699 2,632 2,521 2,424 463 126,972 
20202,559 2,530 2,433 2,271 2,152 519 98,066 
20212,356 2,349 2,294 2,237 555 95,805 
20222,293 2,294 2,226 676 103,114 
20232,373 2,365 836 97,620 
20242,352 1,363 86,556 
Total$22,352 
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
Accident YearUnaudited
2015$430 $893 $1,154 $1,310 $1,411 $1,470 $1,520 $1,547 $1,574 $1,592 
2016421 873 1,118 1,272 1,367 1,433 1,486 1,522 1,553 
2017433 890 1,154 1,314 1,418 1,490 1,544 1,585 
2018440 919 1,169 1,330 1,440 1,516 1,578 Liability for Claims
2019466 951 1,229 1,402 1,518 1,593 And Allocated Claim
2020389 794 1,017 1,164 1,273 Adjustment Expenses,
2021427 848 1,076 1,234 Net of Reinsurance
2022388 830 1,081 
2023444 925 2015 -Before
2024443 20242015
Total$12,857 $9,495 $6,262 
Total net liability$15,757 
Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Unaudited
Years12345678910
19.2 %20.4 %11.4 %7.2 %4.8 %3.1 %2.6 %1.6 %1.4 %0.9 %
Bond & Specialty Insurance
General Liability
(dollars in millions)
For the Years Ended December 31,
2015201620172018201920202021202220232024
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
Unaudited
Accident YearIBNR Reserves December 31, 2024Cumulative Number of Reported Claims
2015$528 $524 $486 $437 $395 $414 $413 $414 $407 $411 $8 4,235 
2016512 511 504 520 514 510 511 509 512 20 4,419 
2017534 517 526 493 524 554 565 582 43 4,623 
2018530 548 585 595 605 612 636 42 4,890 
2019588 653 665 670 662 654 47 5,503 
2020772 753 741 698 684 108 5,501 
2021812 756 683 659 151 5,712 
2022803 763 727 264 5,098 
2023862 888 422 5,730 
20241,001 716 4,772 
Total$6,754 
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
Accident YearUnaudited
2015$38 $141 $234 $310 $338 $348 $381 $383 $387 $392 
201630 141 233 313 378 446 463 472 479 
201738 155 262 340 404 450 488 513 
201849 182 290 383 458 504 559 Liability for Claims
201951 189 323 410 513 554 And Allocated Claim
202052 210 333 447 525 Adjustment Expenses,
202178 210 316 401 Net of Reinsurance
202269 212 335 
202390 274 2015 -Before
2024115 20242015
Total$4,147 $2,607 $74 
Total net liability$2,681 
Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Unaudited
Years12345678910
8.8 %21.4 %18.4 %15.0 %11.6 %7.4 %6.6 %2.2 %1.0 %1.2 %
Fidelity and Surety
  
(dollars in millions)
For the Years Ended December 31,  
20202021202220232024IBNR Reserves December 31, 2024Cumulative Number of Reported Claims
Incurred Claims and Allocated Claims Adjustment
Expenses, Net of Reinsurance
Accident YearUnaudited 
2020$274 $203 $219 $222 $206 $49 816 
2021 284 172 93 87 28 609 
2022  310 261 187 71 744 
2023   353 374 104 948 
2024    363 311 783 
    Total$1,217   
 Cumulative Paid Claims and Allocated Claim  
Adjustment Expenses, Net of Reinsurance  
Accident YearUnaudited Liability for Claims
      And Allocated Claim
2020$50 $79 $110 $125 $139 Adjustment Expenses,
2021 25 50 57 58 Net of Reinsurance
2022  36 82 99   
2023   96 202 2020 -Before
2024    39 20242020
    Total$537 $680 $34 
     Total net liability$714 
Average Annual Percentage Payout of Incurred
Claims by Age, Net of Reinsurance
 Unaudited
Years12345
 21.8 %23.9 %10.5 %4.3 %6.9 %
Personal Insurance
Automobile
(dollars in millions)
 For the Years Ended December 31,  
 20202021202220232024IBNR Reserves December 31, 2024Cumulative Number of Reported Claims
 Incurred Claims and Allocated Claims Adjustment
Expenses, Net of Reinsurance
Accident YearUnaudited 
2020$2,829 $2,764 $2,729 $2,717 $2,695 $26 811,007 
2021 3,716 3,770 3,751 3,724 82 1,000,923 
2022  4,755 4,784 4,729 219 1,131,357 
2023   5,206 5,133 593 1,109,494 
2024    5,179 1,561 945,540 
    Total$21,460   
 Cumulative Paid Claims and Allocated Claim  
Adjustment Expenses, Net of Reinsurance  
Accident YearUnaudited Liability for Claims
      And Allocated Claim
2020$1,571 $2,126 $2,411 $2,561 $2,631 Adjustment Expenses,
2021 2,062 2,981 3,350 3,541 Net of Reinsurance
2022  2,683 3,855 4,278   
2023   2,888 4,068 2020 -Before
2024    2,838 20242020
    Total$17,356 $4,104 $198 
     Total net liability$4,302 
Average Annual Percentage Payout of Incurred
Claims by Age, Net of Reinsurance
 Unaudited
Years12345
 56.3 %23.3 %9.8 %5.3 %2.6 %
Homeowners (excluding Other)
(dollars in millions)
 For the Years Ended December 31,  
 20202021202220232024IBNR Reserves December 31, 2024Cumulative Number of Reported Claims
 Incurred Claims and Allocated Claims Adjustment
Expenses, Net of Reinsurance
Accident YearUnaudited 
2020$3,019 $2,967 $2,909 $2,869 $2,859 $16 221,346 
2021 3,463 3,486 3,444 3,423 22 233,960 
2022  4,277 4,184 4,146 43 235,908 
2023   5,171 5,018 214 267,031 
2024    5,021 1,129 212,797 
    Total$20,467   
 Cumulative Paid Claims and Allocated Claim  
Adjustment Expenses, Net of Reinsurance  
Accident YearUnaudited Liability for Claims
      And Allocated Claim
2020$2,019 $2,673 $2,755 $2,802 $2,823 Adjustment Expenses,
2021 2,334 3,235 3,344 3,372 Net of Reinsurance
2022  2,537 3,828 4,018   
2023   3,369 4,608 2020 -Before
2024    3,402 20242020
    Total$18,223 $2,244 $31 
     Total net liability$2,275 
Average Annual Percentage Payout of Incurred
Claims by Age, Net of Reinsurance
 Unaudited
Years12345
 67.0 %26.3 %3.6 %1.2 %0.7 %
International - Canada
(dollars in millions)
 For the Years Ended December 31,IBNR Reserves December 31, 2024Cumulative
 2015201620172018201920202021202220232024Number of
AccidentIncurred Claims and Allocated Claim Adjustment Expenses, Net of ReinsuranceReported
YearUnaudited Claims
2015$325 $325 $324 $321 $322 $322 $317 $317 $318 $318 $(1)44,956 
2016 325 369 369 377 377 376 378 379 380 (2)45,503 
2017  312 343 363 363 363 366 369 363 (3)46,522 
2018   396 416 418 422 425 427 424 (3)50,329 
2019    401 396 415 418 419 424 9 47,920 
2020     313 301 288 283 281 10 30,038 
2021      314 302 295 292 23 28,054 
2022       349 356 360 35 33,023 
2023        410 434 74 32,737 
2024         462 128 31,642 
         Total$3,738   
AccidentCumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance  
YearUnaudited   
2015$146 $203 $228 $255 $276 $290 $302 $309 $311 $314   
2016 190 255 279 310 331 347 358 364 370   
2017  164 231 267 289 313 332 344 352   
2018   197 275 306 342 370 386 399 Liability for Claims
2019    194 260 293 328 356 380 And Allocated Claim
2020     130 175 196 214 233 Adjustment Expenses,
2021      115 170 197 216 Net of Reinsurance
2022       152 220 248   
2023        184 262 2015 -Before
2024         188 20242015
         Total$2,962 $776 $19 
          Total net liability$795 
 Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
 Unaudited
Years12345678910
 44.4 %17.7 %8.0 %7.4 %6.6 %4.6 %3.3 %1.9 %1.2 %0.9 %
Historical average annual percentage payout of incurred claims by age of accident year [Table Text Block]
Business Insurance
General Liability
(dollars in millions)
For the Years Ended December 31,
2015201620172018201920202021202220232024
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
Unaudited
Accident YearIBNR Reserves Dec 31, 2024Cumulative Number of Reported Claims
2015$998 $956 $923 $967 $1,057 $1,087 $1,072 $1,082 $1,110 $1,100 $70 22,069 
20161,075 1,058 1,087 1,187 1,204 1,179 1,185 1,183 1,173 99 20,947 
20171,133 1,143 1,196 1,234 1,226 1,243 1,288 1,306 117 19,913 
20181,253 1,312 1,344 1,395 1,477 1,530 1,571 134 20,059 
20191,447 1,486 1,498 1,567 1,706 1,698 216 19,730 
20201,467 1,493 1,470 1,577 1,568 322 19,208 
20211,591 1,589 1,628 1,711 575 15,694 
20221,696 1,736 1,916 851 18,258 
20231,998 2,060 1,432 16,973 
20242,340 2,120 12,629 
Total$16,443 
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
Accident YearUnaudited
2015$36 $137 $336 $558 $740 $828 $875 $927 $975 $1,002 
201635 191 421 649 758 858 951 991 1,031 
201740 180 378 552 724 914 1,029 1,111 
201842 202 441 709 939 1,146 1,270 Liability for Claims
201951 233 482 816 1,074 1,276 And Allocated Claim
202061 244 458 770 1,031 Adjustment Expenses,
202167 231 493 826 Net of Reinsurance
202281 302 668 
202354 280 2015 -Before
202455 20242015
Total$8,550 $7,893 $3,207 
Total net liability$11,100 
Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Unaudited
Years12345678910
3.2 %10.9 %16.4 %18.4 %14.3 %11.2 %7.2 %4.8 %3.9 %2.5 %
Commercial Property
(dollars in millions)
For the Years Ended December 31,
20202021202220232024
Incurred Claims and Allocated Claims Adjustment Expenses, Net of Reinsurance
Unaudited
Accident YearIBNR Reserves December 31, 2024Cumulative Number of Reported Claims
2020$1,107 $1,025 $1,005 $993 $983 $33 25,713 
20211,236 1,190 1,190 1,201 (5)25,796 
20221,309 1,369 1,372 3 28,896 
20231,268 1,244 7 29,166 
20241,474 201 25,257 
Total$6,274 
Cumulative Paid Claims and Allocated Claim
Adjustment Expenses, Net of Reinsurance
Unaudited
Liability for Claims
Accident YearAnd Allocated Claim
2020$580 $857 $907 $932 $939 Adjustment Expenses,
2021645 1,068 1,141 1,169 Net of Reinsurance
2022624 1,113 1,247 
2023614 1,049 2020 -Before
2024702 20242020
Total$5,106 $1,168 $98 
Total net liability$1,266 
Average Annual Percentage Payout of Incurred
Claims by Age, Net of Reinsurance
 Unaudited
Years12345
 51.0 %33.5 %7.0 %2.5 %0.7 %
Commercial Multi-Peril
(dollars in millions)
For the Years Ended December 31,
2015201620172018201920202021202220232024
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
Unaudited
Accident YearIBNR Reserves December 31, 2024Cumulative Number of Reported Claims
2015$1,568 $1,625 $1,593 $1,597 $1,606 $1,593 $1,584 $1,571 $1,563 $1,564 $14 73,061 
20161,662 1,623 1,598 1,590 1,601 1,587 1,579 1,578 1,590 19 69,612 
20171,872 1,928 1,956 1,919 1,935 1,943 1,930 1,928 43 72,767 
20181,976 2,114 2,092 2,112 2,121 2,127 2,125 56 80,273 
20192,017 2,087 2,089 2,103 2,103 2,110 78 75,593 
20202,142 2,141 2,126 2,111 2,061 216 70,726 
20212,164 2,097 2,097 2,107 238 58,432 
20222,502 2,533 2,569 436 54,444 
20232,781 2,811 716 52,398 
20242,946 1,255 42,267 
Total$21,811 
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
Accident YearUnaudited
2015$595 $970 $1,144 $1,310 $1,409 $1,452 $1,489 $1,512 $1,523 $1,535 
2016585 950 1,133 1,278 1,373 1,437 1,477 1,510 1,547 
2017716 1,199 1,388 1,531 1,674 1,763 1,815 1,843 
2018792 1,302 1,500 1,669 1,815 1,917 1,986 Liability for Claims
2019707 1,187 1,423 1,628 1,801 1,916 And Allocated Claim
2020791 1,180 1,373 1,547 1,687 Adjustment Expenses,
2021744 1,206 1,437 1,616 Net of Reinsurance
2022817 1,476 1,752 
2023935 1,603 2015 -Before
2024906 20242015
Total$16,391 $5,420 $338 
Total net liability$5,758 
Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Unaudited
Years12345678910
35.2 %23.2 %10.5 %8.8 %6.9 %4.3 %2.7 %1.7 %1.5 %0.8 %
Commercial Automobile
(dollars in millions)
For the Years Ended December 31,
20202021202220232024
Incurred Claims and Allocated Claims Adjustment
Expenses, Net of Reinsurance
Unaudited
Accident YearIBNR Reserves December 31, 2024Cumulative Number of Reported Claims
2020$1,788 $1,677 $1,621 $1,558 $1,551 $102 143,151 
20211,741 1,757 1,786 1,800 181 149,164 
20221,939 2,040 2,050 365 160,389 
20232,245 2,222 744 166,691 
20242,544 1,493 150,376 
Total$10,167 
Cumulative Paid Claims and Allocated Claim
Adjustment Expenses, Net of Reinsurance
Unaudited
Liability for Claims
Accident YearAnd Allocated Claim
2020$437 $696 $958 $1,192 $1,345 Adjustment Expenses,
2021453 800 1,135 1,405 Net of Reinsurance
2022540 966 1,324 
2023589 1,006 2020 -Before
2024604 20242020
Total$5,684 $4,483 $308 
Total net liability$4,791 
Average Annual Percentage Payout of Incurred
Claims by Age, Net of Reinsurance
Unaudited
Years12345
26.0 %18.9 %17.7 %15.0 %9.8 %
Workers’ Compensation
(dollars in millions)
For the Years Ended December 31,
2015201620172018201920202021202220232024
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
Unaudited
Accident YearIBNR Reserves December 31, 2024Cumulative Number of Reported Claims
2015$2,644 $2,585 $2,505 $2,441 $2,372 $2,279 $2,220 $2,155 $2,097 $2,050 $292 131,266 
20162,768 2,690 2,569 2,473 2,372 2,300 2,235 2,151 2,111 262 132,057 
20172,779 2,681 2,584 2,483 2,439 2,342 2,243 2,190 338 129,935 
20182,744 2,687 2,599 2,503 2,416 2,318 2,245 381 132,125 
20192,680 2,714 2,699 2,632 2,521 2,424 463 126,972 
20202,559 2,530 2,433 2,271 2,152 519 98,066 
20212,356 2,349 2,294 2,237 555 95,805 
20222,293 2,294 2,226 676 103,114 
20232,373 2,365 836 97,620 
20242,352 1,363 86,556 
Total$22,352 
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
Accident YearUnaudited
2015$430 $893 $1,154 $1,310 $1,411 $1,470 $1,520 $1,547 $1,574 $1,592 
2016421 873 1,118 1,272 1,367 1,433 1,486 1,522 1,553 
2017433 890 1,154 1,314 1,418 1,490 1,544 1,585 
2018440 919 1,169 1,330 1,440 1,516 1,578 Liability for Claims
2019466 951 1,229 1,402 1,518 1,593 And Allocated Claim
2020389 794 1,017 1,164 1,273 Adjustment Expenses,
2021427 848 1,076 1,234 Net of Reinsurance
2022388 830 1,081 
2023444 925 2015 -Before
2024443 20242015
Total$12,857 $9,495 $6,262 
Total net liability$15,757 
Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Unaudited
Years12345678910
19.2 %20.4 %11.4 %7.2 %4.8 %3.1 %2.6 %1.6 %1.4 %0.9 %
Bond & Specialty Insurance
General Liability
(dollars in millions)
For the Years Ended December 31,
2015201620172018201920202021202220232024
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
Unaudited
Accident YearIBNR Reserves December 31, 2024Cumulative Number of Reported Claims
2015$528 $524 $486 $437 $395 $414 $413 $414 $407 $411 $8 4,235 
2016512 511 504 520 514 510 511 509 512 20 4,419 
2017534 517 526 493 524 554 565 582 43 4,623 
2018530 548 585 595 605 612 636 42 4,890 
2019588 653 665 670 662 654 47 5,503 
2020772 753 741 698 684 108 5,501 
2021812 756 683 659 151 5,712 
2022803 763 727 264 5,098 
2023862 888 422 5,730 
20241,001 716 4,772 
Total$6,754 
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
Accident YearUnaudited
2015$38 $141 $234 $310 $338 $348 $381 $383 $387 $392 
201630 141 233 313 378 446 463 472 479 
201738 155 262 340 404 450 488 513 
201849 182 290 383 458 504 559 Liability for Claims
201951 189 323 410 513 554 And Allocated Claim
202052 210 333 447 525 Adjustment Expenses,
202178 210 316 401 Net of Reinsurance
202269 212 335 
202390 274 2015 -Before
2024115 20242015
Total$4,147 $2,607 $74 
Total net liability$2,681 
Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Unaudited
Years12345678910
8.8 %21.4 %18.4 %15.0 %11.6 %7.4 %6.6 %2.2 %1.0 %1.2 %
Fidelity and Surety
  
(dollars in millions)
For the Years Ended December 31,  
20202021202220232024IBNR Reserves December 31, 2024Cumulative Number of Reported Claims
Incurred Claims and Allocated Claims Adjustment
Expenses, Net of Reinsurance
Accident YearUnaudited 
2020$274 $203 $219 $222 $206 $49 816 
2021 284 172 93 87 28 609 
2022  310 261 187 71 744 
2023   353 374 104 948 
2024    363 311 783 
    Total$1,217   
 Cumulative Paid Claims and Allocated Claim  
Adjustment Expenses, Net of Reinsurance  
Accident YearUnaudited Liability for Claims
      And Allocated Claim
2020$50 $79 $110 $125 $139 Adjustment Expenses,
2021 25 50 57 58 Net of Reinsurance
2022  36 82 99   
2023   96 202 2020 -Before
2024    39 20242020
    Total$537 $680 $34 
     Total net liability$714 
Average Annual Percentage Payout of Incurred
Claims by Age, Net of Reinsurance
 Unaudited
Years12345
 21.8 %23.9 %10.5 %4.3 %6.9 %
Personal Insurance
Automobile
(dollars in millions)
 For the Years Ended December 31,  
 20202021202220232024IBNR Reserves December 31, 2024Cumulative Number of Reported Claims
 Incurred Claims and Allocated Claims Adjustment
Expenses, Net of Reinsurance
Accident YearUnaudited 
2020$2,829 $2,764 $2,729 $2,717 $2,695 $26 811,007 
2021 3,716 3,770 3,751 3,724 82 1,000,923 
2022  4,755 4,784 4,729 219 1,131,357 
2023   5,206 5,133 593 1,109,494 
2024    5,179 1,561 945,540 
    Total$21,460   
 Cumulative Paid Claims and Allocated Claim  
Adjustment Expenses, Net of Reinsurance  
Accident YearUnaudited Liability for Claims
      And Allocated Claim
2020$1,571 $2,126 $2,411 $2,561 $2,631 Adjustment Expenses,
2021 2,062 2,981 3,350 3,541 Net of Reinsurance
2022  2,683 3,855 4,278   
2023   2,888 4,068 2020 -Before
2024    2,838 20242020
    Total$17,356 $4,104 $198 
     Total net liability$4,302 
Average Annual Percentage Payout of Incurred
Claims by Age, Net of Reinsurance
 Unaudited
Years12345
 56.3 %23.3 %9.8 %5.3 %2.6 %
Homeowners (excluding Other)
(dollars in millions)
 For the Years Ended December 31,  
 20202021202220232024IBNR Reserves December 31, 2024Cumulative Number of Reported Claims
 Incurred Claims and Allocated Claims Adjustment
Expenses, Net of Reinsurance
Accident YearUnaudited 
2020$3,019 $2,967 $2,909 $2,869 $2,859 $16 221,346 
2021 3,463 3,486 3,444 3,423 22 233,960 
2022  4,277 4,184 4,146 43 235,908 
2023   5,171 5,018 214 267,031 
2024    5,021 1,129 212,797 
    Total$20,467   
 Cumulative Paid Claims and Allocated Claim  
Adjustment Expenses, Net of Reinsurance  
Accident YearUnaudited Liability for Claims
      And Allocated Claim
2020$2,019 $2,673 $2,755 $2,802 $2,823 Adjustment Expenses,
2021 2,334 3,235 3,344 3,372 Net of Reinsurance
2022  2,537 3,828 4,018   
2023   3,369 4,608 2020 -Before
2024    3,402 20242020
    Total$18,223 $2,244 $31 
     Total net liability$2,275 
Average Annual Percentage Payout of Incurred
Claims by Age, Net of Reinsurance
 Unaudited
Years12345
 67.0 %26.3 %3.6 %1.2 %0.7 %
International - Canada
(dollars in millions)
 For the Years Ended December 31,IBNR Reserves December 31, 2024Cumulative
 2015201620172018201920202021202220232024Number of
AccidentIncurred Claims and Allocated Claim Adjustment Expenses, Net of ReinsuranceReported
YearUnaudited Claims
2015$325 $325 $324 $321 $322 $322 $317 $317 $318 $318 $(1)44,956 
2016 325 369 369 377 377 376 378 379 380 (2)45,503 
2017  312 343 363 363 363 366 369 363 (3)46,522 
2018   396 416 418 422 425 427 424 (3)50,329 
2019    401 396 415 418 419 424 9 47,920 
2020     313 301 288 283 281 10 30,038 
2021      314 302 295 292 23 28,054 
2022       349 356 360 35 33,023 
2023        410 434 74 32,737 
2024         462 128 31,642 
         Total$3,738   
AccidentCumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance  
YearUnaudited   
2015$146 $203 $228 $255 $276 $290 $302 $309 $311 $314   
2016 190 255 279 310 331 347 358 364 370   
2017  164 231 267 289 313 332 344 352   
2018   197 275 306 342 370 386 399 Liability for Claims
2019    194 260 293 328 356 380 And Allocated Claim
2020     130 175 196 214 233 Adjustment Expenses,
2021      115 170 197 216 Net of Reinsurance
2022       152 220 248   
2023        184 262 2015 -Before
2024         188 20242015
         Total$2,962 $776 $19 
          Total net liability$795 
 Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
 Unaudited
Years12345678910
 44.4 %17.7 %8.0 %7.4 %6.6 %4.6 %3.3 %1.9 %1.2 %0.9 %