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Segment information (Tables) | 9 Months Ended
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Sep. 30, 2017
Segment Reporting [Abstract] |
Operations By Segment | The following tables present the Statement of Operations by segment:
| North America Commercial P&C Insurance |  |  | North America Personal P&C Insurance |  |  | North America Agricultural Insurance |  |  | Overseas General Insurance |  |  | Global Reinsurance |  |  | Life Insurance |  |  | Corporate |  |  | Chubb Consolidated |
For the Three Months Ended |  |  |  |  |  |
September 30, 2017 |  |  |  |  |  |
(in millions of U.S. dollars) |  |  |  |  |  |
Net premiums written | $ | 3,089 |  |  | $ | 1,194 |  |  | $ | 926 |  |  | $ | 1,963 |  |  | $ | 191 |  |  | $ | 539 |  |  | $ | — |  |  | $ | 7,902 |
Net premiums earned | 3,016 |  |  | 1,117 |  |  | 898 |  |  | 2,064 |  |  | 185 |  |  | 527 |  |  | — |  |  | 7,807 |
Losses and loss expenses | 2,580 |  |  | 1,062 |  |  | 759 |  |  | 1,281 |  |  | 295 |  |  | 181 |  |  | 89 |  |  | 6,247 |
Policy benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 169 |  |  | — |  |  | 169 |
Policy acquisition costs | 469 |  |  | 226 |  |  | 49 |  |  | 569 |  |  | 43 |  |  | 132 |  |  | — |  |  | 1,488 |
Administrative expenses | 256 |  |  | 61 |  |  | (1 | ) |  | 246 |  |  | 11 |  |  | 77 |  |  | 64 |  |  | 714 |
Underwriting income (loss) | (289 | ) |  | (232 | ) |  | 91 |  |  | (32 | ) |  | (164 | ) |  | (32 | ) |  | (153 | ) |  | (811 | )
Net investment income (loss) | 497 |  |  | 57 |  |  | 6 |  |  | 164 |  |  | 80 |  |  | 78 |  |  | (69 | ) |  | 813 |
Other (income) expense | (4 | ) |  | 1 |  |  | — |  |  | (10 | ) |  | (3 | ) |  | (19 | ) |  | (83 | ) |  | (118 | )
Amortization expense of purchased intangibles | — |  |  | 4 |  |  | 8 |  |  | 11 |  |  | — |  |  | 1 |  |  | 41 |  |  | 65 |
Segment income (loss) | $ | 212 |  |  | $ | (180 | ) |  | $ | 89 |  |  | $ | 131 |  |  | $ | (81 | ) |  | $ | 64 |  |  | $ | (180 | ) |  | $ | 55 |
Net realized gains (losses) including OTTI |  |  |  |  |  |  |  |  |  |  |  |  | (10 | ) |  | (10 | )
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 150 |  |  | 150 |
Chubb integration expenses |  |  |  |  |  |  |  |  |  |  |  |  | 50 |  |  | 50 |
Income tax benefit |  |  |  |  |  |  |  |  |  |  |  |  | (85 | ) |  | (85 | )
Net loss |  |  |  |  |  |  |  |  |  |  |  |  | $ | (305 | ) |  | $ | (70 | )
| North America Commercial P&C Insurance |  |  | North America Personal P&C Insurance |  |  | North America Agricultural Insurance |  |  | Overseas General Insurance |  |  | Global Reinsurance |  |  | Life Insurance |  |  | Corporate |  |  | Chubb Consolidated |
For the Three Months Ended |  |  |  |  |
September 30, 2016 |  |  |  |  |
(in millions of U.S. dollars) |  |  |  |  |
Net premiums written | $ | 3,110 |  |  | $ | 1,011 |  |  | $ | 849 |  |  | $ | 1,940 |  |  | $ | 131 |  |  | $ | 532 |  |  | $ | — |  |  | $ | 7,573 |
Net premiums earned | 3,086 |  |  | 1,081 |  |  | 819 |  |  | 2,034 |  |  | 156 |  |  | 512 |  |  | — |  |  | 7,688 |
Losses and loss expenses | 1,863 |  |  | 594 |  |  | 683 |  |  | 843 |  |  | 49 |  |  | 174 |  |  | 63 |  |  | 4,269 |
Policy benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 155 |  |  | — |  |  | 155 |
Policy acquisition costs | 522 |  |  | 229 |  |  | 48 |  |  | 546 |  |  | 42 |  |  | 127 |  |  | — |  |  | 1,514 |
Administrative expenses | 275 |  |  | 89 |  |  | 1 |  |  | 261 |  |  | 12 |  |  | 77 |  |  | 57 |  |  | 772 |
Underwriting income (loss) | 426 |  |  | 169 |  |  | 87 |  |  | 384 |  |  | 53 |  |  | (21 | ) |  | (120 | ) |  | 978 |
Net investment income (loss) | 477 |  |  | 53 |  |  | 5 |  |  | 152 |  |  | 67 |  |  | 71 |  |  | (86 | ) |  | 739 |
Other (income) expense | 3 |  |  | 2 |  |  | — |  |  | (6 | ) |  | — |  |  | (20 | ) |  | (70 | ) |  | (91 | )
Amortization expense (benefit) of purchased intangibles | — |  |  | 4 |  |  | 7 |  |  | 12 |  |  | — |  |  | 1 |  |  | (20 | ) |  | 4 |
Segment income (loss) | $ | 900 |  |  | $ | 216 |  |  | $ | 85 |  |  | $ | 530 |  |  | $ | 120 |  |  | $ | 69 |  |  | $ | (116 | ) |  | $ | 1,804 |
Net realized gains (losses) including OTTI |  |  |  |  |  |  |  |  |  |  |  |  | 100 |  |  | 100 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 152 |  |  | 152 |
Chubb integration expenses |  |  |  |  |  |  |  |  |  |  |  |  | 115 |  |  | 115 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 277 |  |  | 277 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (560 | ) |  | $ | 1,360 |
| North America Commercial P&C Insurance |  |  | North America Personal P&C Insurance |  |  | North America Agricultural Insurance |  |  | Overseas General Insurance |  |  | Global Reinsurance |  |  | Life Insurance |  |  | Corporate |  |  | Chubb Consolidated |
For the Nine Months Ended |  |  |  |  |
September 30, 2017 |  |  |  |  |
(in millions of U.S. dollars) |  |  |  |  |
Net premiums written | $ | 9,035 |  |  | $ | 3,433 |  |  | $ | 1,390 |  |  | $ | 6,169 |  |  | $ | 580 |  |  | $ | 1,586 |  |  | $ | — |  |  | $ | 22,193 |
Net premiums earned | 9,156 |  |  | 3,296 |  |  | 1,256 |  |  | 6,018 |  |  | 542 |  |  | 1,548 |  |  | — |  |  | 21,816 |
Losses and loss expenses | 6,376 |  |  | 2,378 |  |  | 976 |  |  | 3,316 |  |  | 435 |  |  | 556 |  |  | 145 |  |  | 14,182 |
Policy benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 500 |  |  | — |  |  | 500 |
Policy acquisition costs | 1,420 |  |  | 673 |  |  | 75 |  |  | 1,653 |  |  | 137 |  |  | 376 |  |  | — |  |  | 4,334 |
Administrative expenses | 728 |  |  | 192 |  |  | (4 | ) |  | 734 |  |  | 33 |  |  | 226 |  |  | 187 |  |  | 2,096 |
Underwriting income (loss) | 632 |  |  | 53 |  |  | 209 |  |  | 315 |  |  | (63 | ) |  | (110 | ) |  | (332 | ) |  | 704 |
Net investment income (loss) | 1,465 |  |  | 168 |  |  | 18 |  |  | 460 |  |  | 207 |  |  | 230 |  |  | (220 | ) |  | 2,328 |
Other (income) expense | (4 | ) |  | 3 |  |  | 1 |  |  | (14 | ) |  | (2 | ) |  | (60 | ) |  | (257 | ) |  | (333 | )
Amortization expense of purchased intangibles | — |  |  | 12 |  |  | 22 |  |  | 33 |  |  | — |  |  | 2 |  |  | 125 |  |  | 194 |
Segment income (loss) | $ | 2,101 |  |  | $ | 206 |  |  | $ | 204 |  |  | $ | 756 |  |  | $ | 146 |  |  | $ | 178 |  |  | $ | (420 | ) |  | $ | 3,171 |
Net realized gains (losses) including OTTI |  |  |  |  |  |  |  |  |  |  |  |  | 84 |  |  | 84 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 451 |  |  | 451 |
Chubb integration expenses |  |  |  |  |  |  |  |  |  |  |  |  | 233 |  |  | 233 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 243 |  |  | 243 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  | $ | (1,263 | ) |  | $ | 2,328 |
| North America Commercial P&C Insurance |  |  | North America Personal P&C Insurance |  |  | North America Agricultural Insurance |  |  | Overseas General Insurance |  |  | Global Reinsurance |  |  | Life Insurance |  |  | Corporate |  |  | Chubb Consolidated |
For the Nine Months Ended |  |  |  |  |
September 30, 2016 |  |  |  |  |
(in millions of U.S. dollars) |  |  |  |  |
Net premiums written | $ | 8,657 |  |  | $ | 3,113 |  |  | $ | 1,288 |  |  | $ | 6,012 |  |  | $ | 562 |  |  | $ | 1,575 |  |  | $ | — |  |  | $ | 21,207 |
Net premiums earned | 9,130 |  |  | 3,245 |  |  | 1,169 |  |  | 6,082 |  |  | 543 |  |  | 1,521 |  |  | — |  |  | 21,690 |
Losses and loss expenses | 5,581 |  |  | 1,916 |  |  | 937 |  |  | 2,953 |  |  | 225 |  |  | 498 |  |  | 87 |  |  | 12,197 |
Policy benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 427 |  |  | — |  |  | 427 |
Policy acquisition costs | 1,549 |  |  | 747 |  |  | 77 |  |  | 1,586 |  |  | 142 |  |  | 386 |  |  | — |  |  | 4,487 |
Administrative expenses | 840 |  |  | 275 |  |  | (1 | ) |  | 801 |  |  | 40 |  |  | 226 |  |  | 192 |  |  | 2,373 |
Underwriting income (loss) | 1,160 |  |  | 307 |  |  | 156 |  |  | 742 |  |  | 136 |  |  | (16 | ) |  | (279 | ) |  | 2,206 |
Net investment income (loss) | 1,371 |  |  | 155 |  |  | 15 |  |  | 445 |  |  | 199 |  |  | 207 |  |  | (271 | ) |  | 2,121 |
Other (income) expense | (6 | ) |  | 6 |  |  | — |  |  | (16 | ) |  | (3 | ) |  | (14 | ) |  | (59 | ) |  | (92 | )
Amortization expense (benefit) of purchased intangibles | — |  |  | 16 |  |  | 22 |  |  | 36 |  |  | — |  |  | 2 |  |  | (60 | ) |  | 16 |
Segment income (loss) | $ | 2,537 |  |  | $ | 440 |  |  | $ | 149 |  |  | $ | 1,167 |  |  | $ | 338 |  |  | $ | 203 |  |  | $ | (431 | ) |  | $ | 4,403 |
Net realized gains (losses) including OTTI |  |  |  |  |  |  |  |  |  |  |  |  | (510 | ) |  | (510 | )
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 451 |  |  | 451 |
Chubb integration expenses |  |  |  |  |  |  |  |  |  |  |  |  | 361 |  |  | 361 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 556 |  |  | 556 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  | $ | (2,309 | ) |  | $ | 2,525 |

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