XML 58 R39.htm IDEA: XBRL DOCUMENT
v3.22.4

Goodwill, Other intangible assets, and Value of business acquired (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
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, 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 |
Acquisition of Cigna's business in Asia | — |  |  | — |  |  | — |  |  | 90 |  |  | — |  |  | 1,160 |  |  | 1,250 |
Foreign exchange revaluation and other | (27) |  |  | (10) |  |  | — |  |  | (138) |  |  | — |  |  | (1) |  |  | (176) |
Balance at December 31, 2022 | $ | 6,945 |  |  | $ | 2,230 |  |  | $ | 134 |  |  | $ | 4,605 |  |  | $ | 371 |  |  | $ | 2,002 |  |  | $ | 16,287 |
Schedule of Intangible Assets and Goodwill | 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) | 2022 |  | 2021
Subject to amortization | $ | 2,459 |  |  | $ | 2,508 |
Not subject to amortization | 2,982 |  |  | 2,947 |
Total | $ | 5,441 |  |  | $ | 5,455 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | The following table presents, as of December 31, 2022, the expected estimated pre-tax amortization expense of purchased intangibles, at current foreign currency exchange rates, for the next five years:
|  | For the Years Ending December 31
(in millions of U.S. dollars) |  | Total Amortization of purchased intangibles
2023 |  | $ | 281 |
2024 |  | 260 |
2025 |  | 242 |
2026 |  | 220 |
2027 |  | 205 |
Total |  | $ | 1,208 |
Schedule of Changes in VOBA | The following table presents a roll-forward of VOBA:
|  |  | Year Ended December 31
(in millions of U.S. dollars) | 2022 |  | 2021 |  | 2020
Balance, beginning of year | $ | 236 |  |  | $ | 263 |  |  | $ | 306 |
Acquisition of Cigna's business in Asia | 3,503 |  |  | — |  |  | — |
Amortization of VOBA (1) | (164) |  |  | (22) |  |  | (27) |
Foreign exchange revaluation and other | 21 |  |  | (5) |  |  | (16) |
Balance, end of year | $ | 3,596 |  |  | $ | 236 |  |  | $ | 263 |
(1)Recognized in Policy acquisition costs in the Consolidated statements of operations.
Schedule of expected pre-tax amortization related to VOBA for the next five years | The following table presents, as of December 31, 2022, the expected estimated pre-tax amortization expense related to VOBA for the next five years at current foreign currency exchange rates:
For the Years Ending December 31 | VOBA
(in millions of U.S. dollars)
2023 | $ | 333 |
2024 | 299 |
2025 | 270 |
2026 | 243 |
2027 | 219 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of amount of amortization expense expected to be recorded in succeeding fiscal years for present value of future profits of insurance contract acquired in business combination. + References No definition available. + Details
Name: | us-gaap_PresentValueOfFutureInsuranceProfitsExpectedAmortizationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of present value of future profits of insurance contract acquired in business combination. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 20 -Section S99 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=122135039&loc=d3e569990-122904 + Details
Name: | us-gaap_PresentValueOfFutureInsuranceProfitsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1A -URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 55 -Paragraph 24 -URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268 Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 + Details
Name: | us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of goodwill and intangible assets, which may be broken down by segment or major class. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 + Details
Name: | us-gaap_ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration