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Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill roll-forward by business segment | The following table presents a roll-forward of Goodwill by segment:
(in millions of U.S. dollars) | North America Commercial P&C Insurance |  |  | North America Personal P&C Insurance |  |  | North America Agricultural Insurance |  |  | Overseas General Insurance |  |  | Global Reinsurance |  |  | Life Insurance |  |  | Chubb Consolidated |
Balance at December 31, 2016 | $ | 6,961 |  |  | $ | 2,235 |  |  | $ | 134 |  |  | $ | 4,817 |  |  | $ | 365 |  |  | $ | 820 |  |  | $ | 15,332 |
Foreign exchange revaluation and other | 15 |  |  | 5 |  |  | — |  |  | 187 |  |  | — |  |  | 2 |  |  | 209 |
Balance at December 31, 2017 | $ | 6,976 |  |  | $ | 2,240 |  |  | $ | 134 |  |  | $ | 5,004 |  |  | $ | 365 |  |  | $ | 822 |  |  | $ | 15,541 |
Foreign exchange revaluation and other | (30 | ) |  | (10 | ) |  | — |  |  | (234 | ) |  | 6 |  |  | (2 | ) |  | (270 | )
Balance at December 31, 2018 | $ | 6,946 |  |  | $ | 2,230 |  |  | $ | 134 |  |  | $ | 4,770 |  |  | $ | 371 |  |  | $ | 820 |  |  | $ | 15,271 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] |
| Associated with the Chubb Corp Acquisition |  |  |  |  |
For the Year Ending December 31 (in millions of U.S. dollars) | Agency distribution relationships and renewal rights |  |  | Fair value adjustment on Unpaid losses and loss expense (1) |  |  | Total |  |  | Other intangible assets |  |  | Total Amortization of purchased intangibles |
2019 | $ | 280 |  |  | $ | (62 | ) |  | $ | 218 |  |  | $ | 80 |  |  | $ | 298 |
2020 | 239 |  |  | (35 | ) |  | 204 |  |  | 76 |  |  | 280 |
2021 | 216 |  |  | (20 | ) |  | 196 |  |  | 70 |  |  | 266 |
2022 | 196 |  |  | (14 | ) |  | 182 |  |  | 64 |  |  | 246 |
2023 | 177 |  |  | (7 | ) |  | 170 |  |  | 62 |  |  | 232 |
Total | $ | 1,108 |  |  | $ | (138 | ) |  | $ | 970 |  |  | $ | 352 |  |  | $ | 1,322 |
(1) | In connection with the Chubb Corp acquisition, we recorded an increase to Unpaid losses and loss expenses acquired to adjust the carrying value of Chubb Corp's historical Unpaid losses and loss expenses to fair value as of the acquisition date. This fair value adjustment amortizes through Amortization of purchased intangibles on the Consolidated statements of operations through the year 2032. The balance of the fair value adjustment on Unpaid losses and loss expense was $207 million and $309 million at December 31, 2018 and 2017, respectively. Refer to Note 1(h) for additional information.
VOBA | The following table presents a roll-forward of VOBA:
(in millions of U.S. dollars) | 2018 |  |  | 2017 |  |  | 2016 |
Balance, beginning of year | $ | 326 |  |  | $ | 355 |  |  | $ | 395 |
Amortization of VOBA (1) | (25 | ) |  | (35 | ) |  | (41 | )
Foreign exchange revaluation | (6 | ) |  | 6 |  |  | 1 |
Balance, end of year | $ | 295 |  |  | $ | 326 |  |  | $ | 355 |
(1) | Recognized in Policy acquisition costs in the Consolidated statements of operations.
The following table presents, as of December 31, 2018, the expected estimated pre-tax amortization expense related to VOBA for the next five years:
For the Year Ending December 31 | VOBA |
(in millions of U.S. dollars)
2019 | $ | 26 |
2020 | 24 |
2021 | 22 |
2022 | 20 |
2023 | 18 |
Total | $ | 110 |

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