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Value of Business Acquired, Goodwill, and Other Intangible Assets (Tables) | 9 Months Ended
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Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Changes in VOBA | The following table presents a roll-forward of VOBA:
| Nine months ended
| September 30
(in millions of U.S. dollars) | 2022 |  |
Balance, beginning of period | $ | 236 |  |  |
Acquisition of Cigna's business in Asia | 3,379 |  |  |
Amortization of VOBA (1) | (107) |  |  |
Foreign exchange revaluation and other | (184) |  |  |
Balance, end of period | $ | 3,324 |  |  |
(1)Recognized in Policy acquisition costs in the Consolidated statements of operations.
Goodwill roll-forward by business segment | 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, 2021 | $ | 6,972 |  |  | $ | 2,240 |  |  | $ | 134 |  |  | $ | 4,653 |  |  | $ | 371 |  |  | $ | 843 |  |  | $ | 15,213 |
Acquisition of Cigna's business in Asia | — |  |  | — |  |  | — |  |  | 103 |  |  | — |  |  | 1,237 |  |  | 1,340 |
Foreign exchange revaluation and other | (11) |  |  | (4) |  |  | — |  |  | (431) |  |  | — |  |  | — |  |  | (446) |
Balance at September 30, 2022 | $ | 6,961 |  |  | $ | 2,236 |  |  | $ | 134 |  |  | $ | 4,325 |  |  | $ | 371 |  |  | $ | 2,080 |  |  | $ | 16,107 |
Schedule of Intangible Assets and Goodwill | Other intangible assets that are subject to amortization principally relate to agency distribution relationships, renewal rights, and patents, and other intangible assets that are not subject to amortization principally relate to trademarks.
(in millions of U.S. dollars) |  | September 30 2022 |  | December 31 2021
Subject to amortization |  | $ | 2,417 |  |  | $ | 2,508 |
Not subject to amortization |  | 2,966 |  |  | 2,947 |
Total |  | $ | 5,383 |  |  | $ | 5,455 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | The following table presents, as of September 30, 2022, the expected pre-tax amortization expense of purchased intangibles, at current foreign currency exchange rates, for the fourth quarter of 2022 and for the next five years:
For the Years Ending December 31 (in millions of U.S. dollars) | Associated with the Cigna acquisition in Asia (1) |  | Associated with the Chubb acquisition (2) |  |  |  | Other intangible assets (3) |  | Total amortization of purchased intangibles
Fourth quarter of 2022 | $ | 1 |  |  | $ | 45 |  |  |  |  | $ | 25 |  |  | $ | 71 |
2023 | 2 |  |  | 170 |  |  |  |  | 96 |  |  | 268 |
2024 | 4 |  |  | 153 |  |  |  |  | 89 |  |  | 246 |
2025 | 5 |  |  | 137 |  |  |  |  | 87 |  |  | 229 |
2026 | 6 |  |  | 123 |  |  |  |  | 84 |  |  | 213 |
2027 | 9 |  |  | 108 |  |  |  |  | 81 |  |  | 198 |
Total | $ | 27 |  |  | $ | 736 |  |  |  |  | $ | 462 |  |  | $ | 1,225 |
(1)Recorded in Life Insurance segment. (2)Recorded in Corporate. (3)Recorded in applicable segment(s) that acquired the intangible assets.

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