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Segment information (Tables) | 6 Months Ended
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Jun. 30, 2019
Segment Reporting [Abstract] |
Operations By Segment | The following tables present the Statement of Operations by segment:
For the Three Months Ended June 30, 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 | $ | 3,534 |  |  | $ | 1,309 |  |  | $ | 466 |  |  | $ | 2,258 |  |  | $ | 197 |  |  | $ | 579 |  |  | $ | — |  |  | $ | 8,343 |
Net premiums earned | 3,390 |  |  | 1,168 |  |  | 378 |  |  | 2,225 |  |  | 159 |  |  | 571 |  |  | — |  |  | 7,891 |
Losses and loss expenses | 2,214 |  |  | 747 |  |  | 316 |  |  | 1,125 |  |  | 90 |  |  | 189 |  |  | 34 |  |  | 4,715 |
Policy benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 161 |  |  | — |  |  | 161 |
Policy acquisition costs | 459 |  |  | 237 |  |  | 27 |  |  | 629 |  |  | 42 |  |  | 150 |  |  | — |  |  | 1,544 |
Administrative expenses | 259 |  |  | 71 |  |  | 4 |  |  | 265 |  |  | 7 |  |  | 78 |  |  | 74 |  |  | 758 |
Underwriting income (loss) | 458 |  |  | 113 |  |  | 31 |  |  | 206 |  |  | 20 |  |  | (7 | ) |  | (108 | ) |  | 713 |
Net investment income (loss) | 521 |  |  | 64 |  |  | 4 |  |  | 151 |  |  | 55 |  |  | 97 |  |  | (33 | ) |  | 859 |
Other (income) expense | 2 |  |  | 1 |  |  | 1 |  |  | 3 |  |  | (15 | ) |  | (7 | ) |  | (215 | ) |  | (230 | )
Amortization expense of purchased intangibles | — |  |  | 3 |  |  | 7 |  |  | 12 |  |  | — |  |  | 1 |  |  | 54 |  |  | 77 |
Segment income | $ | 977 |  |  | $ | 173 |  |  | $ | 27 |  |  | $ | 342 |  |  | $ | 90 |  |  | $ | 96 |  |  | $ | 20 |  |  | $ | 1,725 |
Net realized gains (losses) including OTTI |  |  |  |  |  |  |  |  |  |  |  |  | (223 | ) |  | (223 | )
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 140 |  |  | 140 |
Chubb integration expenses |  |  |  |  |  |  |  |  |  |  |  |  | 4 |  |  | 4 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 208 |  |  | 208 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  | $ | (555 | ) |  | $ | 1,150 |
For the Three Months Ended June 30, 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 | $ | 3,331 |  |  | $ | 1,335 |  |  | $ | 388 |  |  | $ | 2,199 |  |  | $ | 197 |  |  | $ | 565 |  |  | $ | — |  |  | $ | 8,015 |
Net premiums earned | 3,277 |  |  | 1,156 |  |  | 351 |  |  | 2,161 |  |  | 167 |  |  | 552 |  |  | — |  |  | 7,664 |
Losses and loss expenses | 2,084 |  |  | 728 |  |  | 289 |  |  | 1,071 |  |  | 83 |  |  | 184 |  |  | 48 |  |  | 4,487 |
Policy benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 150 |  |  | — |  |  | 150 |
Policy acquisition costs | 448 |  |  | 228 |  |  | 26 |  |  | 584 |  |  | 40 |  |  | 138 |  |  | — |  |  | 1,464 |
Administrative expenses | 253 |  |  | 68 |  |  | 1 |  |  | 266 |  |  | 9 |  |  | 80 |  |  | 70 |  |  | 747 |
Underwriting income (loss) | 492 |  |  | 132 |  |  | 35 |  |  | 240 |  |  | 35 |  |  | — |  |  | (118 | ) |  | 816 |
Net investment income (loss) | 510 |  |  | 59 |  |  | 6 |  |  | 155 |  |  | 65 |  |  | 85 |  |  | (52 | ) |  | 828 |
Other (income) expense | (13 | ) |  | 1 |  |  | 1 |  |  | (12 | ) |  | (6 | ) |  | 8 |  |  | (94 | ) |  | (115 | )
Amortization expense of purchased intangibles | — |  |  | 3 |  |  | 7 |  |  | 11 |  |  | — |  |  | — |  |  | 64 |  |  | 85 |
Segment income (loss) | $ | 1,015 |  |  | $ | 187 |  |  | $ | 33 |  |  | $ | 396 |  |  | $ | 106 |  |  | $ | 77 |  |  | $ | (140 | ) |  | $ | 1,674 |
Net realized gains (losses) including OTTI |  |  |  |  |  |  |  |  |  |  |  |  | 18 |  |  | 18 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 167 |  |  | 167 |
Chubb integration expenses |  |  |  |  |  |  |  |  |  |  |  |  | 13 |  |  | 13 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 218 |  |  | 218 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  | $ | (520 | ) |  | $ | 1,294 |
For the Six Months Ended June 30, 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 | $ | 6,485 |  |  | $ | 2,365 |  |  | $ | 596 |  |  | $ | 4,653 |  |  | $ | 399 |  |  | $ | 1,158 |  |  | $ | — |  |  | $ | 15,656 |
Net premiums earned | 6,475 |  |  | 2,322 |  |  | 433 |  |  | 4,339 |  |  | 327 |  |  | 1,132 |  |  | — |  |  | 15,028 |
Losses and loss expenses | 4,187 |  |  | 1,504 |  |  | 289 |  |  | 2,231 |  |  | 166 |  |  | 391 |  |  | 45 |  |  | 8,813 |
Policy benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 357 |  |  | — |  |  | 357 |
Policy acquisition costs | 918 |  |  | 468 |  |  | 34 |  |  | 1,225 |  |  | 85 |  |  | 278 |  |  | — |  |  | 3,008 |
Administrative expenses | 499 |  |  | 139 |  |  | 5 |  |  | 514 |  |  | 17 |  |  | 157 |  |  | 137 |  |  | 1,468 |
Underwriting income (loss) | 871 |  |  | 211 |  |  | 105 |  |  | 369 |  |  | 59 |  |  | (51 | ) |  | (182 | ) |  | 1,382 |
Net investment income (loss) | 1,031 |  |  | 128 |  |  | 14 |  |  | 295 |  |  | 111 |  |  | 186 |  |  | (70 | ) |  | 1,695 |
Other (income) expense | (3 | ) |  | 1 |  |  | 1 |  |  | 7 |  |  | (24 | ) |  | (47 | ) |  | (204 | ) |  | (269 | )
Amortization expense of purchased intangibles | — |  |  | 6 |  |  | 14 |  |  | 23 |  |  | — |  |  | 1 |  |  | 109 |  |  | 153 |
Segment income (loss) | $ | 1,905 |  |  | $ | 332 |  |  | $ | 104 |  |  | $ | 634 |  |  | $ | 194 |  |  | $ | 181 |  |  | $ | (157 | ) |  | $ | 3,193 |
Net realized gains (losses) including OTTI |  |  |  |  |  |  |  |  |  |  |  |  | (320 | ) |  | (320 | )
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 280 |  |  | 280 |
Chubb integration expenses |  |  |  |  |  |  |  |  |  |  |  |  | 7 |  |  | 7 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 396 |  |  | 396 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  | $ | (1,160 | ) |  | $ | 2,190 |
For the Six Months Ended June 30, 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 | $ | 6,143 |  |  | $ | 2,383 |  |  | $ | 496 |  |  | $ | 4,583 |  |  | $ | 390 |  |  | $ | 1,124 |  |  | $ | — |  |  | $ | 15,119 |
Net premiums earned | 6,306 |  |  | 2,296 |  |  | 394 |  |  | 4,268 |  |  | 335 |  |  | 1,092 |  |  | — |  |  | 14,691 |
Losses and loss expenses | 3,992 |  |  | 1,614 |  |  | 236 |  |  | 2,149 |  |  | 150 |  |  | 389 |  |  | 59 |  |  | 8,589 |
Policy benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 301 |  |  | — |  |  | 301 |
Policy acquisition costs | 920 |  |  | 465 |  |  | 25 |  |  | 1,172 |  |  | 80 |  |  | 266 |  |  | — |  |  | 2,928 |
Administrative expenses | 484 |  |  | 133 |  |  | (2 | ) |  | 505 |  |  | 19 |  |  | 158 |  |  | 142 |  |  | 1,439 |
Underwriting income (loss) | 910 |  |  | 84 |  |  | 135 |  |  | 442 |  |  | 86 |  |  | (22 | ) |  | (201 | ) |  | 1,434 |
Net investment income (loss) | 1,013 |  |  | 118 |  |  | 13 |  |  | 306 |  |  | 129 |  |  | 168 |  |  | (113 | ) |  | 1,634 |
Other (income) expense | (19 | ) |  | 1 |  |  | 1 |  |  | (5 | ) |  | (13 | ) |  | 4 |  |  | (131 | ) |  | (162 | )
Amortization expense of purchased intangibles | — |  |  | 6 |  |  | 14 |  |  | 21 |  |  | — |  |  | 1 |  |  | 128 |  |  | 170 |
Segment income (loss) | $ | 1,942 |  |  | $ | 195 |  |  | $ | 133 |  |  | $ | 732 |  |  | $ | 228 |  |  | $ | 141 |  |  | $ | (311 | ) |  | $ | 3,060 |
Net realized gains (losses) including OTTI |  |  |  |  |  |  |  |  |  |  |  |  | 16 |  |  | 16 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 324 |  |  | 324 |
Chubb integration expenses |  |  |  |  |  |  |  |  |  |  |  |  | 23 |  |  | 23 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 353 |  |  | 353 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  | $ | (995 | ) |  | $ | 2,376 |

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