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Share-based compensation | 9 Months Ended
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Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Share-based compensation | Share-based compensation The Chubb Limited 2016 Long-Term Incentive Plan (the 2016 LTIP) permits grants of both incentive and non-qualified stock options principally at an option price per share equal to the grant date fair value of Chubb's Common Shares. Stock options are generally granted with a 3-year vesting period and a 10-year term. Stock options typically vest in equal annual installments over the vesting period, which is also the requisite service period. On February 22, 2018, Chubb granted 1,841,329 stock options with a weighted-average grant date fair value of $29.71 each. The fair value of the options issued is estimated on the grant date using the Black-Scholes option pricing model. The 2016 LTIP also permits grants of service-based restricted stock and restricted stock units as well as performance-based restricted stock awards. Chubb generally grants service-based restricted stock and restricted stock units with a 4-year vesting period, based on a graded vesting schedule. Beginning in 2017, the performance-based stock awards granted comprise target awards which have 3-year cliff vesting provisions based on tangible book value (shareholders' equity less goodwill and intangible assets, net of tax) per share growth and P&C combined ratio compared to a defined group of peer companies. Premium performance-based stock awards are earned only if tangible book value per share growth and the P&C combined ratio over the cumulative 3-year period after the grant of the associated target awards exceed a higher threshold compared to our peer group, with an additional vesting provision based on total shareholder return compared to our peer group. The restricted stock is granted at market close price on the grant date. On February 22, 2018, Chubb granted 973,624 service-based restricted stock awards, 301,024 service-based restricted stock units, and 180,065 performance-based stock awards to employees and officers with a grant date fair value of $143.07 each. Each restricted stock unit represents our obligation to deliver to the holder one Common Share upon vesting.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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