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v3.19.2

Segment Information (Operations By Segment) (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018
Segment Reporting Information [Line Items] |  |  |  |
Net premiums written | $ 8,343 | $ 8,015 | $ 15,656 | $ 15,119
Net premiums earned | 7,891 | 7,664 | 15,028 | 14,691
Losses and loss expenses | 4,715 | 4,487 | 8,813 | 8,589
Policy benefits | 161 | 150 | 357 | 301
Policy acquisition costs | 1,544 | 1,464 | 3,008 | 2,928
Administrative expenses | 758 | 747 | 1,468 | 1,439
Underwriting income (loss) | 713 | 816 | 1,382 | 1,434
Net investment income (loss) | 859 | 828 | 1,695 | 1,634
Other (income) expense | (230) | (115) | (269) | (162)
Amortization of purchased intangibles | 77 | 85 | 153 | 170
Segment Income (loss) | 1,725 | 1,674 | 3,193 | 3,060
Net Realized Gains Losses | (223) | 18 | (320) | 16
Interest expense | 140 | 167 | 280 | 324
Chubb integration expenses | 4 | 13 | 7 | 23
Income tax expense | 208 | 218 | 396 | 353
Net income | 1,150 | 1,294 | 2,190 | 2,376
North America Commercial P&C Insurance [Member] |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Net premiums written | 3,534 | 3,331 | 6,485 | 6,143
Net premiums earned | 3,390 | 3,277 | 6,475 | 6,306
Losses and loss expenses | 2,214 | 2,084 | 4,187 | 3,992
Policy benefits | 0 | 0 | 0 | 0
Policy acquisition costs | 459 | 448 | 918 | 920
Administrative expenses | 259 | 253 | 499 | 484
Underwriting income (loss) | 458 | 492 | 871 | 910
Net investment income (loss) | 521 | 510 | 1,031 | 1,013
Other (income) expense | 2 | (13) | (3) | (19)
Amortization of purchased intangibles | 0 | 0 | 0 | 0
Segment Income (loss) | 977 | 1,015 | 1,905 | 1,942
North America Personal P&C Insurance [Member] |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Net premiums written | 1,309 | 1,335 | 2,365 | 2,383
Net premiums earned | 1,168 | 1,156 | 2,322 | 2,296
Losses and loss expenses | 747 | 728 | 1,504 | 1,614
Policy benefits | 0 | 0 | 0 | 0
Policy acquisition costs | 237 | 228 | 468 | 465
Administrative expenses | 71 | 68 | 139 | 133
Underwriting income (loss) | 113 | 132 | 211 | 84
Net investment income (loss) | 64 | 59 | 128 | 118
Other (income) expense | 1 | 1 | 1 | 1
Amortization of purchased intangibles | 3 | 3 | 6 | 6
Segment Income (loss) | 173 | 187 | 332 | 195
North America Agricultural Insurance [Member] |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Net premiums written | 466 | 388 | 596 | 496
Net premiums earned | 378 | 351 | 433 | 394
Losses and loss expenses | 316 | 289 | 289 | 236
Policy benefits | 0 | 0 | 0 | 0
Policy acquisition costs | 27 | 26 | 34 | 25
Administrative expenses | 4 | 1 | 5 | (2)
Underwriting income (loss) | 31 | 35 | 105 | 135
Net investment income (loss) | 4 | 6 | 14 | 13
Other (income) expense | 1 | 1 | 1 | 1
Amortization of purchased intangibles | 7 | 7 | 14 | 14
Segment Income (loss) | 27 | 33 | 104 | 133
Overseas General Insurance [Member] |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Net premiums written | 2,258 | 2,199 | 4,653 | 4,583
Net premiums earned | 2,225 | 2,161 | 4,339 | 4,268
Losses and loss expenses | 1,125 | 1,071 | 2,231 | 2,149
Policy benefits | 0 | 0 | 0 | 0
Policy acquisition costs | 629 | 584 | 1,225 | 1,172
Administrative expenses | 265 | 266 | 514 | 505
Underwriting income (loss) | 206 | 240 | 369 | 442
Net investment income (loss) | 151 | 155 | 295 | 306
Other (income) expense | 3 | (12) | 7 | (5)
Amortization of purchased intangibles | 12 | 11 | 23 | 21
Segment Income (loss) | 342 | 396 | 634 | 732
Global Reinsurance [Member] |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Net premiums written | 197 | 197 | 399 | 390
Net premiums earned | 159 | 167 | 327 | 335
Losses and loss expenses | 90 | 83 | 166 | 150
Policy benefits | 0 | 0 | 0 | 0
Policy acquisition costs | 42 | 40 | 85 | 80
Administrative expenses | 7 | 9 | 17 | 19
Underwriting income (loss) | 20 | 35 | 59 | 86
Net investment income (loss) | 55 | 65 | 111 | 129
Other (income) expense | (15) | (6) | (24) | (13)
Amortization of purchased intangibles | 0 | 0 | 0 | 0
Segment Income (loss) | 90 | 106 | 194 | 228
Life Insurance [Member] |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Net premiums written | 579 | 565 | 1,158 | 1,124
Net premiums earned | 571 | 552 | 1,132 | 1,092
Losses and loss expenses | 189 | 184 | 391 | 389
Policy benefits | 161 | 150 | 357 | 301
Policy acquisition costs | 150 | 138 | 278 | 266
Administrative expenses | 78 | 80 | 157 | 158
Underwriting income (loss) | (7) | 0 | (51) | (22)
Net investment income (loss) | 97 | 85 | 186 | 168
Other (income) expense | (7) | 8 | (47) | 4
Amortization of purchased intangibles | 1 | 0 | 1 | 1
Segment Income (loss) | 96 | 77 | 181 | 141
Corporate Segment [Member] |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Net premiums written | 0 | 0 | 0 | 0
Net premiums earned | 0 | 0 | 0 | 0
Losses and loss expenses | 34 | 48 | 45 | 59
Policy benefits | 0 | 0 | 0 | 0
Policy acquisition costs | 0 | 0 | 0 | 0
Administrative expenses | 74 | 70 | 137 | 142
Underwriting income (loss) | (108) | (118) | (182) | (201)
Net investment income (loss) | (33) | (52) | (70) | (113)
Other (income) expense | (215) | (94) | (204) | (131)
Amortization of purchased intangibles | 54 | 64 | 109 | 128
Segment Income (loss) | 20 | (140) | (157) | (311)
Net Realized Gains Losses | (223) | 18 | (320) | 16
Interest expense | 140 | 167 | 280 | 324
Chubb integration expenses | 4 | 13 | 7 | 23
Income tax expense | 208 | 218 | 396 | 353
Net income | $ (555) | $ (520) | $ (1,160) | $ (995)

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