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Segment information
 6 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
Segment information Segment information
Chubb operates through six business segments: North America Commercial P&C Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance. Corporate results primarily include income and expenses not attributable to reportable segments and losses and loss expenses of asbestos and environmental (A&E) liabilities and certain other non-A&E run-off exposures.

Management uses underwriting income (loss) as the basis for segment performance. Chubb calculates underwriting income (loss) by subtracting Losses and loss expenses, Policy benefits, Policy acquisition costs, and Administrative expenses from Net premiums earned. Our main measure of segment performance is Segment income (loss), which also includes Net investment income (loss), Other (income) expense, and Amortization of purchased intangibles acquired by the segment. We determined that this definition of segment income (loss) is appropriate and aligns with how the business is managed. We continue to evaluate our segments as our business continues to evolve and may further refine our segments and segment income (loss) measures. Certain items are presented in a different manner for segment reporting purposes than in the Consolidated Financial Statements. These items are reconciled to the consolidated presentation in the Segment measure reclass column below and include:

•Losses and loss expenses include realized gains and losses on crop derivatives. These derivatives were purchased to provide economic benefit, in a manner similar to reinsurance protection, in the event that a significant decline in commodity pricing impacts underwriting results. We view gains and losses on these derivatives as part of the results of our underwriting operations, and therefore realized gains (losses) from these derivatives are reclassified to losses and loss expenses.

•Policy benefits include gains and losses from fair value changes in separate account assets, as well as the offsetting movement in separate account liabilities. The gains and losses from fair value changes in separate account assets that do not qualify for separate account reporting under GAAP have been reclassified from Other (income) expense. We view gains and losses from fair value changes in both separate account assets and liabilities as part of the results of our underwriting operations, and therefore these gains and losses are reclassified to policy benefits.

•Net investment income includes investment income reclassified from Other (income) expense related to partially-owned investment companies (private equity partnerships) where our ownership interest is in excess of three percent. We view investment income from these equity-method private equity partnerships as net investment income.
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 InsuranceNorth America Personal P&C InsuranceNorth America Agricultural InsuranceOverseas General InsuranceGlobal
Reinsurance		Life InsuranceCorporateSegment Measure ReclassChubb Consolidated
Net premiums written$4,285 $1,363 $512 $2,497 $274 $615 $— $— $9,546 
Net premiums earned3,803 1,224 410 2,579 192 605 — — 8,813 
Losses and loss expenses2,426 676 331 1,186 110 185 89 3 5,006 
Policy benefits— — — — — 170 — 15 185 
Policy acquisition costs489 245 27 699 47 191 — — 1,698 
Administrative expenses245 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)$2,737 
Net realized gains (losses)(36)3 (33)
Interest expense122 — 122 
Income tax expense317 — 317 
Net income (loss)$(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 InsuranceNorth America Agricultural InsuranceOverseas General Insurance Global
Reinsurance		Life InsuranceCorporateSegment Measure ReclassChubb
Consolidated
Net premiums written$3,720 $1,327 $461 $2,021 $207 $619 $— $— $8,355 
Net premiums earned3,595 1,192 376 2,194 163 608 — — 8,128 
Losses and loss expenses3,498 762 313 1,485 73 171 276 (1)6,577 
Policy benefits— — — — — 183 — 40 223 
Policy acquisition costs471 231 29 624 42 196 — — 1,593 
Administrative expenses249 66 3 241 9 82 77 — 727 
Underwriting income (loss)(623)133 31 (156)39 (24)(353)(39)(992)
Net investment income (loss)509 65 7 121 60 95 (22)(8)827 
Other (income) expense6 1 1 5 1 (17)109 (48)58 
Amortization expense of
   purchased intangibles		— 3 6 11 — 1 51 — 72 
Segment income (loss)$(120)$194 $31 $(51)$98 $87 $(535)$1 $(295)
Net realized gains (losses)31 (1)30 
Interest expense128 — 128 
Income tax benefit(62)— (62)
Net loss$(570)$— $(331)
For the Six Months Ended
June 30, 2021
(in millions of U.S. dollars) 		North America Commercial P&C InsuranceNorth America Personal P&C InsuranceNorth America Agricultural InsuranceOverseas General InsuranceGlobal
Reinsurance		Life InsuranceCorporateSegment Measure ReclassChubb Consolidated
Net premiums written$7,949 $2,461 $695 $5,387 $481 $1,235 $— $— $18,208 
Net premiums earned7,477 2,408 520 5,057 372 1,200 — — 17,034 
Losses and loss expenses4,986 1,495 416 2,449 230 383 98 2 10,059 
Policy benefits— — — — — 333 — 19 352 
Policy acquisition costs1,003 492 39 1,367 92 370 — — 3,363 
Administrative expenses499 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) expense16 (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 expense244 — 244 
Income tax expense655 — 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 InsuranceNorth America Agricultural InsuranceOverseas General Insurance Global
Reinsurance		Life InsuranceCorporateSegment Measure ReclassChubb
Consolidated
Net premiums written$6,972 $2,434 $618 $4,619 $425 $1,264 $— $— $16,332 
Net premiums earned6,971 2,392 470 4,501 349 1,239 — — 15,922 
Losses and loss expenses5,679 1,445 378 2,743 160 373 287 (3)11,062 
Policy benefits— — — — — 368 — (16)352 
Policy acquisition costs963 476 40 1,266 87 376 — — 3,208 
Administrative expenses508 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) expense12 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 $1,262 
Net realized gains (losses)(925)(3)(928)
Interest expense260 — 260 
Income tax expense153 — 153 
Net loss$(2,047)$— $(79)

Underwriting assets are reviewed in total by management for purposes of decision-making. Other than Unpaid losses and loss expenses, Future policy benefits, Reinsurance recoverables, Goodwill and Other intangible assets, Chubb does not allocate assets to its segments.