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Policy Claims and Benefits (Tables)
 12 Months Ended
Dec. 31, 2022
Insurance [Abstract]  
Short-duration Insurance Contracts, Claims Development [Table Text Block]
U.S. and Latin AmericaAs of
(dollars in millions)December 31, 2022
Incurred Claims and Allocated Claim Adjustments, Net of Reinsurance (1)
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development on Reported Claims
Accident YearFor the Years Ended December 31,
2013201420152016201720182019202020212022
2013$349 $333 $339 $337 $336 $336 $337 $335 $336 $336 — 
2014408 411 396 397 396 399 399 401 401 — 
2015460 461 465 462 462 463 463 464 — 
2016501 500 501 497 497 498 499 — 
2017485 514 509 504 503 504 — 
2018538 538 524 517 520 1 
2019491 473 456 453 2 
2020469 426 415 5 
2021509 492 27 
2022519 227
 Total$4,603 
Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net of Reinsurance (1)
Accident YearFor the Years Ended December 31,
2013201420152016201720182019202020212022
2013$114 $249 $277 $286 $292 $297 $302 $305 $309 $311 
2014129 305 337 349 356 364 368 374 378 
2015146 361 407 422 431 437 441 446 
2016185 393 437 451 460 467 472 
2017190 403 448 462 468 474 
2018183 415 465 479 489 
2019180 372 418 428 
2020159 356 388 
2021177 414 
2022182 
Total3,982 
All outstanding claims prior to 2013, net of reinsurance108 
Liabilities for claims and claim adjustment expense, net of reinsurance$729 
(1)2013 – 2021 unaudited.
Asia PacificAs of
(dollars in millions)December 31, 2022
Incurred Claims and Allocated Claim Adjustments, Net of Reinsurance (1)
Total of Incurred-but-Not-Reported Liabilities Plus Expected Development on Reported Claims
Accident YearFor the Years Ended December 31,
2013201420152016201720182019202020212022
2013$282 $302 $293 $291 $303 $317 $319 $318 $319 $323 4 
2014267 290 257 262 275 277 277 276 275 4 
2015269 249 242 258 258 259 258 258 6 
2016220 199 206 213 212 209 210 5 
2017205 208 207 210 198 196 3 
2018245 262 256 245 239 9 
2019245 253 260 251 19 
2020145 141 142 23 
202167 61 12 
202293 57 
Total$2,048 
Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net of Reinsurance (1)
Accident YearFor the Years Ended December 31,
2013201420152016201720182019202020212022
2013$48 $139 $202 $228 $253 $273 $285 $294 $300 $306 
201433 131 171 199 221 234 244 251 255 
201547 115 162 196 214 226 235 240 
201637 94 129 148 161 172 180 
201734 84 111 132 147 160 
201831 103 142 171 191 
201937 99 136 174 
202022 53 80 
20218 23 
202211 
Total1,620 
All outstanding claims prior to 2013, net of reinsurance79 
Liabilities for claims and claim adjustment expense, net of reinsurance$507 
(1)2013 – 2021 unaudited.
Short-duration Insurance Contracts, Schedule of Historical Claims Duration [Table Text Block]
The following is unaudited supplementary information about average historical claims duration as of December 31, 2022:
Average Annual Payout of Incurred Claims by Age, Net of Reinsurance
Years12345678910
U.S. and Latin America35.7 %44.1 %9.0 %2.7 %1.7 %1.4 %1.1 %1.3 %1.1 %0.8 %
Asia Pacific14.8 %27.1 %16.6 %11.1 %7.6 %5.4 %3.7 %2.5 %2.0 %1.7 %
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Table Text Block]
The reconciliation of the net incurred and paid claims development tables to the liability for claims and claim adjustment expense in the consolidated balance sheet as of December 31, 2022 is as follows (dollars in millions):
2022
Liabilities for claims and claim adjustment expense, net of reinsurance:
U.S. and Latin America$729 
Asia Pacific507 
Liabilities for claims and claim adjustment expense, net of reinsurance1,236 
Adjustments to reconcile to total policy claims and future policy benefits:
Reinsurance recoverable10 
Effect of discounting(97)
Unallocated claims adjustment expense7 
Total adjustments(80)
Other short-duration contracts:
Canada309
Europe, Middle East and Africa 768 
Other 259 
Liability for unpaid claims and claim adjustment expense – short-duration2,492 
Liability for unpaid claims and claim adjustment expense – long-duration5,152 
Total liability for unpaid claims and claim adjustment expense (included in future policy benefits and other policy-related balances)$7,644 
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block]
The liability for unpaid claims is reported in future policy benefits and other policy-related balances within the Company’s consolidated balance sheets. Activity associated with unpaid claims is summarized below (dollars in millions):
202220212020
Balance, beginning of period$8,053 $7,556 $6,786 
Less: reinsurance recoverable(556)(641)(564)
Net balance, beginning of period7,497 6,915 6,222 
Incurred:
Current year11,018 13,181 11,195 
Prior years(143)(377)123 
Total incurred10,875 12,804 11,318 
Payments:
Current year(4,282)(6,284)(5,617)
Prior years(6,634)(5,810)(5,204)
Total payments(10,916)(12,094)(10,821)
Other changes:
Interest accretion34 31 36 
Foreign exchange adjustments(285)(159)160 
Total other changes(251)(128)196 
Net balance, end of period7,205 7,497 6,915 
Plus: reinsurance recoverable439 556 641 
Balance, end of period$7,644 $8,053 $7,556