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v3.21.2

Segment information (Tables) | 6 Months Ended
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Jun. 30, 2021
Segment Reporting [Abstract] |
Operations By Segment | The following tables present the Statement of Operations by segment:
For the Three Months Ended June 30, 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 | $ | 4,285 |  |  | $ | 1,363 |  |  | $ | 512 |  |  | $ | 2,497 |  |  | $ | 274 |  |  | $ | 615 |  |  | $ | — |  |  | $ | — |  |  | $ | 9,546 |
Net premiums earned | 3,803 |  |  | 1,224 |  |  | 410 |  |  | 2,579 |  |  | 192 |  |  | 605 |  |  | — |  |  | — |  |  | 8,813 |
Losses and loss expenses | 2,426 |  |  | 676 |  |  | 331 |  |  | 1,186 |  |  | 110 |  |  | 185 |  |  | 89 |  |  | 3 |  |  | 5,006 |
Policy benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 170 |  |  | — |  |  | 15 |  |  | 185 |
Policy acquisition costs | 489 |  |  | 245 |  |  | 27 |  |  | 699 |  |  | 47 |  |  | 191 |  |  | — |  |  | — |  |  | 1,698 |
Administrative expenses | 245 |  |  | 67 |  |  | 3 |  |  | 279 |  |  | 10 |  |  | 83 |  |  | 88 |  |  | — |  |  | 775 |
Underwriting income (loss) | 643 |  |  | 236 |  |  | 49 |  |  | 415 |  |  | 25 |  |  | (24) |  |  | (177) |  |  | (18) |  |  | 1,149 |
Net investment income (loss) | 535 |  |  | 64 |  |  | 8 |  |  | 149 |  |  | 81 |  |  | 101 |  |  | (15) |  |  | (39) |  |  | 884 |
Other (income) expense(1) | 14 |  |  | (5) |  |  | — |  |  | 2 |  |  | — |  |  | (26) |  |  | (708) |  |  | (54) |  |  | (777) |
Amortization expense of purchased intangibles | — |  |  | 3 |  |  | 6 |  |  | 13 |  |  | — |  |  | 1 |  |  | 50 |  |  | — |  |  | 73 |
Segment income | $ | 1,164 |  |  | $ | 302 |  |  | $ | 51 |  |  | $ | 549 |  |  | $ | 106 |  |  | $ | 102 |  |  | $ | 466 |  |  | $ | (3) |  |  | $ | 2,737 |
Net realized gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | (36) |  |  | 3 |  |  | (33) |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 122 |  |  | — |  |  | 122 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 317 |  |  | — |  |  | 317 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  | $ | (9) |  |  | $ | — |  |  | $ | 2,265 |
(1)Principally includes our share of operating income and market-to-market gains on private equities where we hold more than three percent. Refer to Note 11 for additional information.
For the Three Months Ended June 30, 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 | $ | 3,720 |  |  | $ | 1,327 |  |  | $ | 461 |  |  | $ | 2,021 |  |  | $ | 207 |  |  | $ | 619 |  |  | $ | — |  |  | $ | — |  |  | $ | 8,355 |
Net premiums earned | 3,595 |  |  | 1,192 |  |  | 376 |  |  | 2,194 |  |  | 163 |  |  | 608 |  |  | — |  |  | — |  |  | 8,128 |
Losses and loss expenses | 3,498 |  |  | 762 |  |  | 313 |  |  | 1,485 |  |  | 73 |  |  | 171 |  |  | 276 |  |  | (1) |  |  | 6,577 |
Policy benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 183 |  |  | — |  |  | 40 |  |  | 223 |
Policy acquisition costs | 471 |  |  | 231 |  |  | 29 |  |  | 624 |  |  | 42 |  |  | 196 |  |  | — |  |  | — |  |  | 1,593 |
Administrative expenses | 249 |  |  | 66 |  |  | 3 |  |  | 241 |  |  | 9 |  |  | 82 |  |  | 77 |  |  | — |  |  | 727 |
Underwriting income (loss) | (623) |  |  | 133 |  |  | 31 |  |  | (156) |  |  | 39 |  |  | (24) |  |  | (353) |  |  | (39) |  |  | (992) |
Net investment income (loss) | 509 |  |  | 65 |  |  | 7 |  |  | 121 |  |  | 60 |  |  | 95 |  |  | (22) |  |  | (8) |  |  | 827 |
Other (income) expense | 6 |  |  | 1 |  |  | 1 |  |  | 5 |  |  | 1 |  |  | (17) |  |  | 109 |  |  | (48) |  |  | 58 |
Amortization expense of purchased intangibles | — |  |  | 3 |  |  | 6 |  |  | 11 |  |  | — |  |  | 1 |  |  | 51 |  |  | — |  |  | 72 |
Segment income (loss) | $ | (120) |  |  | $ | 194 |  |  | $ | 31 |  |  | $ | (51) |  |  | $ | 98 |  |  | $ | 87 |  |  | $ | (535) |  |  | $ | 1 |  |  | $ | (295) |
Net realized gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | 31 |  |  | (1) |  |  | 30 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 128 |  |  | — |  |  | 128 |
Income tax benefit |  |  |  |  |  |  |  |  |  |  |  |  | (62) |  |  | — |  |  | (62) |
Net loss |  |  |  |  |  |  |  |  |  |  |  |  | $ | (570) |  |  | $ | — |  |  | $ | (331) |
For the Six Months Ended June 30, 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 | $ | 7,949 |  |  | $ | 2,461 |  |  | $ | 695 |  |  | $ | 5,387 |  |  | $ | 481 |  |  | $ | 1,235 |  |  | $ | — |  |  | $ | — |  |  | $ | 18,208 |
Net premiums earned | 7,477 |  |  | 2,408 |  |  | 520 |  |  | 5,057 |  |  | 372 |  |  | 1,200 |  |  | — |  |  | — |  |  | 17,034 |
Losses and loss expenses | 4,986 |  |  | 1,495 |  |  | 416 |  |  | 2,449 |  |  | 230 |  |  | 383 |  |  | 98 |  |  | 2 |  |  | 10,059 |
Policy benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 333 |  |  | — |  |  | 19 |  |  | 352 |
Policy acquisition costs | 1,003 |  |  | 492 |  |  | 39 |  |  | 1,367 |  |  | 92 |  |  | 370 |  |  | — |  |  | — |  |  | 3,363 |
Administrative expenses | 499 |  |  | 127 |  |  | 6 |  |  | 545 |  |  | 18 |  |  | 165 |  |  | 159 |  |  | — |  |  | 1,519 |
Underwriting income (loss) | 989 |  |  | 294 |  |  | 59 |  |  | 696 |  |  | 32 |  |  | (51) |  |  | (257) |  |  | (21) |  |  | 1,741 |
Net investment income (loss) | 1,075 |  |  | 129 |  |  | 15 |  |  | 290 |  |  | 151 |  |  | 199 |  |  | (32) |  |  | (80) |  |  | 1,747 |
Other (income) expense | 16 |  |  | (4) |  |  | — |  |  | 3 |  |  | — |  |  | (60) |  |  | (1,123) |  |  | (99) |  |  | (1,267) |
Amortization expense of purchased intangibles | — |  |  | 6 |  |  | 13 |  |  | 25 |  |  | — |  |  | 2 |  |  | 99 |  |  | — |  |  | 145 |
Segment income | $ | 2,048 |  |  | $ | 421 |  |  | $ | 61 |  |  | $ | 958 |  |  | $ | 183 |  |  | $ | 206 |  |  | $ | 735 |  |  | $ | (2) |  |  | $ | 4,610 |
Net realized gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | 852 |  |  | 2 |  |  | 854 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 244 |  |  | — |  |  | 244 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 655 |  |  | — |  |  | 655 |
Net income |  |  |  |  |  |  |  |  |  |  |  |  | $ | 688 |  |  | $ | — |  |  | $ | 4,565 |
For the Six Months Ended June 30, 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 | $ | 6,972 |  |  | $ | 2,434 |  |  | $ | 618 |  |  | $ | 4,619 |  |  | $ | 425 |  |  | $ | 1,264 |  |  | $ | — |  |  | $ | — |  |  | $ | 16,332 |
Net premiums earned | 6,971 |  |  | 2,392 |  |  | 470 |  |  | 4,501 |  |  | 349 |  |  | 1,239 |  |  | — |  |  | — |  |  | 15,922 |
Losses and loss expenses | 5,679 |  |  | 1,445 |  |  | 378 |  |  | 2,743 |  |  | 160 |  |  | 373 |  |  | 287 |  |  | (3) |  |  | 11,062 |
Policy benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 368 |  |  | — |  |  | (16) |  |  | 352 |
Policy acquisition costs | 963 |  |  | 476 |  |  | 40 |  |  | 1,266 |  |  | 87 |  |  | 376 |  |  | — |  |  | — |  |  | 3,208 |
Administrative expenses | 508 |  |  | 134 |  |  | 7 |  |  | 499 |  |  | 19 |  |  | 158 |  |  | 143 |  |  | — |  |  | 1,468 |
Underwriting income (loss) | (179) |  |  | 337 |  |  | 45 |  |  | (7) |  |  | 83 |  |  | (36) |  |  | (430) |  |  | 19 |  |  | (168) |
Net investment income (loss) | 1,034 |  |  | 131 |  |  | 16 |  |  | 266 |  |  | 129 |  |  | 190 |  |  | (46) |  |  | (32) |  |  | 1,688 |
Other (income) expense | 12 |  |  | 3 |  |  | 1 |  |  | 9 |  |  | 1 |  |  | (29) |  |  | 132 |  |  | (16) |  |  | 113 |
Amortization expense of purchased intangibles | — |  |  | 6 |  |  | 13 |  |  | 23 |  |  | — |  |  | 2 |  |  | 101 |  |  | — |  |  | 145 |
Segment income (loss) | $ | 843 |  |  | $ | 459 |  |  | $ | 47 |  |  | $ | 227 |  |  | $ | 211 |  |  | $ | 181 |  |  | $ | (709) |  |  | $ | 3 |  |  | $ | 1,262 |
Net realized gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | (925) |  |  | (3) |  |  | (928) |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 260 |  |  | — |  |  | 260 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 153 |  |  | — |  |  | 153 |
Net loss |  |  |  |  |  |  |  |  |  |  |  |  | $ | (2,047) |  |  | $ | — |  |  | $ | (79) |

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