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Intangible Assets | 12 Months Ended
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Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets Disclosure [Text Block] | Goodwill and Other intangible assets Goodwill The following table presents a roll-forward of Goodwill by segment:
(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 |  | Chubb Consolidated
Balance at December 31, 2019 | $ | 6,955 |  |  | $ | 2,234 |  |  | $ | 134 |  |  | $ | 4,785 |  |  | $ | 371 |  |  | $ | 817 |  |  | $ | 15,296 |
Acquisition of Banchile Seguros de Vida | — |  |  | — |  |  | — |  |  | 16 |  |  | — |  |  | 28 |  |  | 44 |
Foreign exchange revaluation and other | 17 |  |  | 6 |  |  | — |  |  | 35 |  |  | — |  |  | 2 |  |  | 60 |
Balance at December 31, 2020 | $ | 6,972 |  |  | $ | 2,240 |  |  | $ | 134 |  |  | $ | 4,836 |  |  | $ | 371 |  |  | $ | 847 |  |  | $ | 15,400 |
Foreign exchange revaluation and other | — |  |  | — |  |  | — |  |  | (183) |  |  | — |  |  | (4) |  |  | (187) |
Balance at December 31, 2021 | $ | 6,972 |  |  | $ | 2,240 |  |  | $ | 134 |  |  | $ | 4,653 |  |  | $ | 371 |  |  | $ | 843 |  |  | $ | 15,213 |
Other intangible assets Other intangible assets that are subject to amortization principally relate to agency distribution relationships and renewal rights and other intangible assets that are not subject to amortization principally relate to trademarks.
| December 31
(in millions of U.S. dollars) | 2021 |  | 2020
Subject to amortization | $ | 2,508 |  |  | $ | 2,846 |
Not subject to amortization | 2,947 |  |  | 2,965 |
Total | $ | 5,455 |  |  | $ | 5,811 |
Amortization expense related to purchased intangibles was $287 million, $290 million, and $305 million for the years ended December 31, 2021, 2020, and 2019. The following table presents, as of December 31, 2021, the expected estimated pre-tax amortization expense (benefit) of purchased intangibles, at current foreign currency exchange rates, for the next five years:
| Associated with the Chubb Corp Acquisition |  |  |  |
For the Years Ending December 31 (in millions of U.S. dollars) | Agency distribution relationships and renewal rights |  | Fair value adjustment on Unpaid losses and loss expense (1) |  | Total |  | Other intangible assets |  | Total Amortization of purchased intangibles
2022 | $ | 196 |  |  | $ | (14) |  |  | $ | 182 |  |  | $ | 99 |  |  | $ | 281 |
2023 | 177 |  |  | (6) |  |  | 171 |  |  | 94 |  |  | 265 |
2024 | 160 |  |  | (6) |  |  | 154 |  |  | 88 |  |  | 242 |
2025 | 144 |  |  | (6) |  |  | 138 |  |  | 87 |  |  | 225 |
2026 | 130 |  |  | (6) |  |  | 124 |  |  | 85 |  |  | 209 |
Total | $ | 807 |  |  | $ | (38) |  |  | $ | 769 |  |  | $ | 453 |  |  | $ | 1,222 |
(1)In connection with the Chubb Corp acquisition, we recorded an increase to Unpaid losses and loss expenses acquired to adjust the carrying value of Chubb Corp's historical Unpaid losses and loss expenses to fair value as of the acquisition date. This fair value adjustment amortizes through Amortization of purchased intangibles on the Consolidated statements of operations through the year 2032. The balance of the fair value adjustment on Unpaid losses and loss expense was $90 million and $110 million at December 31, 2021 and 2020, respectively. Refer to Note 1(h) for additional information. VOBA The following table presents a roll-forward of VOBA:
(in millions of U.S. dollars) | 2021 |  | 2020 |  | 2019
Balance, beginning of year | $ | 263 |  |  | $ | 306 |  |  | $ | 295 |
Amortization of VOBA (1) | (22) |  |  | (27) |  |  | (24) |
Foreign exchange revaluation and other | (5) |  |  | (16) |  |  | 35 |
Balance, end of year | $ | 236 |  |  | $ | 263 |  |  | $ | 306 |
(1)Recognized in Policy acquisition costs in the Consolidated statements of operations. The following table presents, as of December 31, 2021, the expected estimated pre-tax amortization expense related to VOBA for the next five years at current foreign exchange rates:
For the Years Ending December 31 | VOBA
(in millions of U.S. dollars)
2022 | $ | 20 |
2023 | 18 |
2024 | 17 |
2025 | 16 |
2026 | 14 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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