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Segment information (Tables) | 9 Months Ended
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Sep. 30, 2018
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, 2018 |  |  |  |  |  |
(in millions of U.S. dollars) |  |  |  |  |  |
Net premiums written | $ | 3,199 |  |  | $ | 1,218 |  |  | $ | 884 |  |  | $ | 2,081 |  |  | $ | 164 |  |  | $ | 564 |  |  | $ | — |  |  | $ | 8,110 |
Net premiums earned | 3,019 |  |  | 1,167 |  |  | 857 |  |  | 2,157 |  |  | 157 |  |  | 551 |  |  | — |  |  | 7,908 |
Losses and loss expenses | 1,881 |  |  | 860 |  |  | 719 |  |  | 1,114 |  |  | 86 |  |  | 195 |  |  | 13 |  |  | 4,868 |
Policy benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 127 |  |  | — |  |  | 127 |
Policy acquisition costs | 458 |  |  | 236 |  |  | 49 |  |  | 582 |  |  | 40 |  |  | 139 |  |  | — |  |  | 1,504 |
Administrative expenses | 251 |  |  | 69 |  |  | 2 |  |  | 252 |  |  | 10 |  |  | 77 |  |  | 58 |  |  | 719 |
Underwriting income (loss) | 429 |  |  | 2 |  |  | 87 |  |  | 209 |  |  | 21 |  |  | 13 |  |  | (71 | ) |  | 690 |
Net investment income (loss) | 503 |  |  | 59 |  |  | 7 |  |  | 155 |  |  | 63 |  |  | 85 |  |  | (49 | ) |  | 823 |
Other (income) expense | (1 | ) |  | — |  |  | — |  |  | (7 | ) |  | (13 | ) |  | 20 |  |  | (144 | ) |  | (145 | )
Amortization expense of purchased intangibles | — |  |  | 4 |  |  | 7 |  |  | 8 |  |  | — |  |  | — |  |  | 64 |  |  | 83 |
Segment income (loss) | $ | 933 |  |  | $ | 57 |  |  | $ | 87 |  |  | $ | 363 |  |  | $ | 97 |  |  | $ | 78 |  |  | $ | (40 | ) |  | $ | 1,575 |
Net realized gains (losses) including OTTI |  |  |  |  |  |  |  |  |  |  |  |  | 19 |  |  | 19 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 164 |  |  | 164 |
Chubb integration expenses |  |  |  |  |  |  |  |  |  |  |  |  | 16 |  |  | 16 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 183 |  |  | 183 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  | $ | (384 | ) |  | $ | 1,231 |
| North America Commercial P&C Insurance (1) |  |  | North America Personal P&C Insurance |  |  | North America Agricultural Insurance |  |  | Overseas General Insurance (1) |  |  | Global Reinsurance |  |  | Life Insurance |  |  | Corporate |  |  | Chubb Consolidated |
For the Three Months Ended |  |  |  |  |  |
September 30, 2017 |  |  |  |  |  |
(in millions of U.S. dollars) |  |  |  |  |  |
Net premiums written | $ | 3,086 |  |  | $ | 1,194 |  |  | $ | 926 |  |  | $ | 1,966 |  |  | $ | 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 | )
(1) | The 2017 net premiums written amount was revised to reflect the transfer of certain multinational accounts ($3 million) from the North America Commercial P&C Insurance segment to the Overseas General Insurance segment to better align the reporting with the management of these businesses in 2018. There is no impact on a consolidated basis.
| 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, 2018 |  |  |  |  |
(in millions of U.S. dollars) |  |  |  |  |
Net premiums written | $ | 9,342 |  |  | $ | 3,601 |  |  | $ | 1,380 |  |  | $ | 6,664 |  |  | $ | 554 |  |  | $ | 1,688 |  |  | $ | — |  |  | $ | 23,229 |
Net premiums earned | 9,325 |  |  | 3,463 |  |  | 1,251 |  |  | 6,425 |  |  | 492 |  |  | 1,643 |  |  | — |  |  | 22,599 |
Losses and loss expenses | 5,873 |  |  | 2,474 |  |  | 955 |  |  | 3,263 |  |  | 236 |  |  | 584 |  |  | 72 |  |  | 13,457 |
Policy benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 428 |  |  | — |  |  | 428 |
Policy acquisition costs | 1,378 |  |  | 701 |  |  | 74 |  |  | 1,754 |  |  | 120 |  |  | 405 |  |  | — |  |  | 4,432 |
Administrative expenses | 735 |  |  | 202 |  |  | — |  |  | 757 |  |  | 29 |  |  | 235 |  |  | 200 |  |  | 2,158 |
Underwriting income (loss) | 1,339 |  |  | 86 |  |  | 222 |  |  | 651 |  |  | 107 |  |  | (9 | ) |  | (272 | ) |  | 2,124 |
Net investment income (loss) | 1,516 |  |  | 177 |  |  | 20 |  |  | 461 |  |  | 192 |  |  | 253 |  |  | (162 | ) |  | 2,457 |
Other (income) expense | (20 | ) |  | 1 |  |  | 1 |  |  | (12 | ) |  | (26 | ) |  | 24 |  |  | (275 | ) |  | (307 | )
Amortization expense of purchased intangibles | — |  |  | 10 |  |  | 21 |  |  | 29 |  |  | — |  |  | 1 |  |  | 192 |  |  | 253 |
Segment income (loss) | $ | 2,875 |  |  | $ | 252 |  |  | $ | 220 |  |  | $ | 1,095 |  |  | $ | 325 |  |  | $ | 219 |  |  | $ | (351 | ) |  | $ | 4,635 |
Net realized gains (losses) including OTTI |  |  |  |  |  |  |  |  |  |  |  |  | 35 |  |  | 35 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 488 |  |  | 488 |
Chubb integration expenses |  |  |  |  |  |  |  |  |  |  |  |  | 39 |  |  | 39 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 536 |  |  | 536 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (1,379 | ) |  | $ | 3,607 |
| North America Commercial P&C Insurance (1) |  |  | North America Personal P&C Insurance |  |  | North America Agricultural Insurance |  |  | Overseas General Insurance (1) |  |  | Global Reinsurance |  |  | Life Insurance |  |  | Corporate |  |  | Chubb Consolidated |
For the Nine Months Ended |  |  |  |  |
September 30, 2017 |  |  |  |  |
(in millions of U.S. dollars) |  |  |  |  |
Net premiums written | $ | 9,019 |  |  | $ | 3,433 |  |  | $ | 1,390 |  |  | $ | 6,185 |  |  | $ | 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 |
(1) | The 2017 net premiums written amount was revised to reflect the transfer of certain multinational accounts ($16 million) from the North America Commercial P&C Insurance segment to the Overseas General Insurance segment to better align the reporting with the management of these businesses in 2018. There is no impact on a consolidated basis.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
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