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v3.20.1

Segment information (Tables) | 3 Months Ended
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Mar. 31, 2020
Segment Reporting [Abstract] |
Operations By Segment | The following tables present the Statement of Operations by segment:
For the Three Months Ended March 31, 2020 (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 | $ | 3,252 |  |  | $ | 1,107 |  |  | $ | 157 |  |  | $ | 2,598 |  |  | $ | 218 |  |  | $ | 645 |  |  | $ | — |  |  | $ | 7,977 |
Net premiums earned | 3,376 |  |  | 1,200 |  |  | 94 |  |  | 2,307 |  |  | 186 |  |  | 631 |  |  | — |  |  | 7,794 |
Losses and loss expenses | 2,181 |  |  | 683 |  |  | 63 |  |  | 1,258 |  |  | 87 |  |  | 202 |  |  | 11 |  |  | 4,485 |
Policy benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 129 |  |  | — |  |  | 129 |
Policy acquisition costs | 492 |  |  | 245 |  |  | 11 |  |  | 642 |  |  | 45 |  |  | 180 |  |  | — |  |  | 1,615 |
Administrative expenses | 259 |  |  | 68 |  |  | 4 |  |  | 258 |  |  | 10 |  |  | 76 |  |  | 66 |  |  | 741 |
Underwriting income (loss) | 444 |  |  | 204 |  |  | 16 |  |  | 149 |  |  | 44 |  |  | 44 |  |  | (77 | ) |  | 824 |
Net investment income (loss) | 516 |  |  | 66 |  |  | 9 |  |  | 145 |  |  | 54 |  |  | 95 |  |  | (24 | ) |  | 861 |
Other (income) expense | (3 | ) |  | 2 |  |  | — |  |  | 4 |  |  | (15 | ) |  | 44 |  |  | 23 |  |  | 55 |
Amortization expense of purchased intangibles | — |  |  | 3 |  |  | 7 |  |  | 12 |  |  | — |  |  | 1 |  |  | 50 |  |  | 73 |
Segment income (loss) | $ | 963 |  |  | $ | 265 |  |  | $ | 18 |  |  | $ | 278 |  |  | $ | 113 |  |  | $ | 94 |  |  | $ | (174 | ) |  | $ | 1,557 |
Net realized gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | (958 | ) |  | (958 | )
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 132 |  |  | 132 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 215 |  |  | 215 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  | $ | (1,479 | ) |  | $ | 252 |
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 |

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