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v3.19.1

Segment information (Tables) | 3 Months Ended
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Mar. 31, 2019
Segment Reporting [Abstract] |
Operations By Segment | The following tables present the Statement of Operations by segment:
For the Three Months Ended March 31, 2019 (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 |  |  | Corporate |  |  | Chubb Consolidated |
Net premiums written | $ | 2,951 |  |  | $ | 1,056 |  |  | $ | 130 |  |  | $ | 2,395 |  |  | $ | 202 |  |  | $ | 579 |  |  | $ | — |  |  | $ | 7,313 |
Net premiums earned | 3,085 |  |  | 1,154 |  |  | 55 |  |  | 2,114 |  |  | 168 |  |  | 561 |  |  | — |  |  | 7,137 |
Losses and loss expenses | 1,973 |  |  | 757 |  |  | (27 | ) |  | 1,106 |  |  | 76 |  |  | 202 |  |  | 11 |  |  | 4,098 |
Policy benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 196 |  |  | — |  |  | 196 |
Policy acquisition costs | 459 |  |  | 231 |  |  | 7 |  |  | 596 |  |  | 43 |  |  | 128 |  |  | — |  |  | 1,464 |
Administrative expenses | 240 |  |  | 68 |  |  | 1 |  |  | 249 |  |  | 10 |  |  | 79 |  |  | 63 |  |  | 710 |
Underwriting income (loss) | 413 |  |  | 98 |  |  | 74 |  |  | 163 |  |  | 39 |  |  | (44 | ) |  | (74 | ) |  | 669 |
Net investment income (loss) | 510 |  |  | 64 |  |  | 10 |  |  | 144 |  |  | 56 |  |  | 89 |  |  | (37 | ) |  | 836 |
Other (income) expense | (5 | ) |  | — |  |  | — |  |  | 4 |  |  | (9 | ) |  | (40 | ) |  | 11 |  |  | (39 | )
Amortization expense of purchased intangibles | — |  |  | 3 |  |  | 7 |  |  | 11 |  |  | — |  |  | — |  |  | 55 |  |  | 76 |
Segment income (loss) | $ | 928 |  |  | $ | 159 |  |  | $ | 77 |  |  | $ | 292 |  |  | $ | 104 |  |  | $ | 85 |  |  | $ | (177 | ) |  | $ | 1,468 |
Net realized gains (losses) including OTTI |  |  |  |  |  |  |  |  |  |  |  |  | (97 | ) |  | (97 | )
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 140 |  |  | 140 |
Chubb integration expenses |  |  |  |  |  |  |  |  |  |  |  |  | 3 |  |  | 3 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 188 |  |  | 188 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  | $ | (605 | ) |  | $ | 1,040 |
For the Three Months Ended March 31, 2018 (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 |  |  | Corporate |  |  | Chubb Consolidated |
Net premiums written | $ | 2,812 |  |  | $ | 1,048 |  |  | $ | 108 |  |  | $ | 2,384 |  |  | $ | 193 |  |  | $ | 559 |  |  | $ | — |  |  | $ | 7,104 |
Net premiums earned | 3,029 |  |  | 1,140 |  |  | 43 |  |  | 2,107 |  |  | 168 |  |  | 540 |  |  | — |  |  | 7,027 |
Losses and loss expenses | 1,908 |  |  | 886 |  |  | (53 | ) |  | 1,078 |  |  | 67 |  |  | 205 |  |  | 11 |  |  | 4,102 |
Policy benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 151 |  |  | — |  |  | 151 |
Policy acquisition costs | 472 |  |  | 237 |  |  | (1 | ) |  | 588 |  |  | 40 |  |  | 128 |  |  | — |  |  | 1,464 |
Administrative expenses | 231 |  |  | 65 |  |  | (3 | ) |  | 239 |  |  | 10 |  |  | 78 |  |  | 72 |  |  | 692 |
Underwriting income (loss) | 418 |  |  | (48 | ) |  | 100 |  |  | 202 |  |  | 51 |  |  | (22 | ) |  | (83 | ) |  | 618 |
Net investment income (loss) | 503 |  |  | 59 |  |  | 7 |  |  | 151 |  |  | 64 |  |  | 83 |  |  | (61 | ) |  | 806 |
Other (income) expense | (6 | ) |  | — |  |  | — |  |  | 7 |  |  | (7 | ) |  | (4 | ) |  | (37 | ) |  | (47 | )
Amortization expense of purchased intangibles | — |  |  | 3 |  |  | 7 |  |  | 10 |  |  | — |  |  | 1 |  |  | 64 |  |  | 85 |
Segment income (loss) | $ | 927 |  |  | $ | 8 |  |  | $ | 100 |  |  | $ | 336 |  |  | $ | 122 |  |  | $ | 64 |  |  | $ | (171 | ) |  | $ | 1,386 |
Net realized gains (losses) including OTTI |  |  |  |  |  |  |  |  |  |  |  |  | (2 | ) |  | (2 | )
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 157 |  |  | 157 |
Chubb integration expenses |  |  |  |  |  |  |  |  |  |  |  |  | 10 |  |  | 10 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 135 |  |  | 135 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  | $ | (475 | ) |  | $ | 1,082 |

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