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v3.21.1

Segment information (Tables) | 3 Months Ended
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Mar. 31, 2021
Segment Reporting [Abstract] |
Operations By Segment | The following tables present the Statement of Operations by segment:
For the Three Months Ended March 31, 2021 (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 |  | Segment Measure Reclass |  | Chubb Consolidated
Net premiums written | $ | 3,664 |  |  | $ | 1,098 |  |  | $ | 183 |  |  | $ | 2,890 |  |  | $ | 207 |  |  | $ | 620 |  |  | $ | — |  |  | $ | — |  |  | $ | 8,662 |
Net premiums earned | 3,674 |  |  | 1,184 |  |  | 110 |  |  | 2,478 |  |  | 180 |  |  | 595 |  |  | — |  |  | — |  |  | 8,221 |
Losses and loss expenses | 2,560 |  |  | 819 |  |  | 85 |  |  | 1,263 |  |  | 120 |  |  | 198 |  |  | 9 |  |  | (1) |  |  | 5,053 |
Policy benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 163 |  |  | — |  |  | 4 |  |  | 167 |
Policy acquisition costs | 514 |  |  | 247 |  |  | 12 |  |  | 668 |  |  | 45 |  |  | 179 |  |  | — |  |  | — |  |  | 1,665 |
Administrative expenses | 254 |  |  | 60 |  |  | 3 |  |  | 266 |  |  | 8 |  |  | 82 |  |  | 71 |  |  | — |  |  | 744 |
Underwriting income (loss) | 346 |  |  | 58 |  |  | 10 |  |  | 281 |  |  | 7 |  |  | (27) |  |  | (80) |  |  | (3) |  |  | 592 |
Net investment income (loss) | 540 |  |  | 65 |  |  | 7 |  |  | 141 |  |  | 70 |  |  | 98 |  |  | (17) |  |  | (41) |  |  | 863 |
Other (income) expense | 2 |  |  | 1 |  |  | — |  |  | 1 |  |  | — |  |  | (34) |  |  | (415) |  |  | (45) |  |  | (490) |
Amortization expense of purchased intangibles | — |  |  | 3 |  |  | 7 |  |  | 12 |  |  | — |  |  | 1 |  |  | 49 |  |  | — |  |  | 72 |
Segment income | $ | 884 |  |  | $ | 119 |  |  | $ | 10 |  |  | $ | 409 |  |  | $ | 77 |  |  | $ | 104 |  |  | $ | 269 |  |  | $ | 1 |  |  | $ | 1,873 |
Net realized gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | 888 |  |  | (1) |  |  | 887 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 122 |  |  | — |  |  | 122 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 338 |  |  | — |  |  | 338 |
Net income |  |  |  |  |  |  |  |  |  |  |  |  | $ | 697 |  |  | $ | — |  |  | $ | 2,300 |
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 |  | Segment Measure Reclass |  | 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 |  |  | 65 |  |  | 1,258 |  |  | 87 |  |  | 202 |  |  | 11 |  |  | (2) |  |  | 4,485 |
Policy benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 185 |  |  | — |  |  | (56) |  |  | 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 |  |  | 14 |  |  | 149 |  |  | 44 |  |  | (12) |  |  | (77) |  |  | 58 |  |  | 824 |
Net investment income (loss) | 525 |  |  | 66 |  |  | 9 |  |  | 145 |  |  | 69 |  |  | 95 |  |  | (24) |  |  | (24) |  |  | 861 |
Other (income) expense | 6 |  |  | 2 |  |  | — |  |  | 4 |  |  | — |  |  | (12) |  |  | 23 |  |  | 32 |  |  | 55 |
Amortization expense of purchased intangibles | — |  |  | 3 |  |  | 7 |  |  | 12 |  |  | — |  |  | 1 |  |  | 50 |  |  | — |  |  | 73 |
Segment income (loss) | $ | 963 |  |  | $ | 265 |  |  | $ | 16 |  |  | $ | 278 |  |  | $ | 113 |  |  | $ | 94 |  |  | $ | (174) |  |  | $ | 2 |  |  | $ | 1,557 |
Net realized gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | (956) |  |  | (2) |  |  | (958) |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 132 |  |  | — |  |  | 132 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 215 |  |  | — |  |  | 215 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  | $ | (1,477) |  |  | $ | — |  |  | $ | 252 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
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