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Related party transactions (Tables) | 12 Months Ended
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Dec. 31, 2022
Related Party Transactions [Abstract] |
Schedule of Related Party Transactions [Table Text Block] | No profit share commission has been payable yet under this arrangement. Transactions generated under Starr agreements were as follows:
| Year Ended December 31
(in millions of U.S. dollars) | 2022 |  | 2021 |  | 2020
Consolidated statement of operations |  |  |  |  |
Gross premiums written | $ | 618 |  |  | $ | 592 |  |  | $ | 507 |
Ceded premiums written | $ | 353 |  |  | $ | 321 |  |  | $ | 253 |
Commissions paid | $ | 122 |  |  | $ | 114 |  |  | $ | 97 |
Commissions received | $ | 79 |  |  | $ | 73 |  |  | $ | 59 |
Losses and loss expenses | $ | 225 |  |  | $ | 157 |  |  | $ | 170 |
Consolidated balance sheets |  |  |  |  |
Reinsurance recoverable on losses and loss expenses | $ | 541 |  |  | $ | 516 |  |  |
Ceded reinsurance premium payable | $ | 96 |  |  | $ | 88 |  |  |
ABR Re At December 31, 2022, we own 18.8 percent of the common equity of ABR Reinsurance Capital Holdings Ltd. and warrants to acquire 0.5 percent of additional equity. ABR Reinsurance Capital Holdings Ltd., is the parent company of ABR Reinsurance Ltd. (ABR Re), an independent reinsurance company. Through long-term arrangements, Chubb will be the sole source of reinsurance risks ceded to ABR Re, and BlackRock, Inc. serves as an investment management service provider. As an investor, Chubb is expected to benefit from underwriting profit generated by ABR Re’s reinsuring a wide range of Chubb’s primary insurance business and the income and capital appreciation BlackRock, Inc. seeks to deliver through its investment management services. In addition, Chubb has an arrangement with BlackRock, Inc. under which both Chubb and BlackRock, Inc. will be entitled to an equal share of the aggregate amount of certain fees, including underwriting and investment management performance related fees, in connection with their respective reinsurance and investment management arrangements with ABR Re. In connection with this arrangement with BlackRock, Inc., we recorded income of $7 million, $11 million, and $3 million in 2022, 2021, and 2020, respectively, which is recorded in Other (income) expense on the Consolidated statements of operations. ABR Re is a variable interest entity; however, Chubb is not the primary beneficiary and does not consolidate ABR Re because Chubb does not have the power to control and direct ABR Re’s most significant activities, including investing and underwriting. Our ownership interest is accounted for under the equity method of accounting. Chubb cedes premiums to ABR Re and recognizes the associated commissio ns. Transactions generated under ABR Re agreements were as follows:
| Year Ended December 31
(in millions of U.S. dollars) | 2022 |  | 2021 |  | 2020
Consolidated statements of operations |  |  |  |  |
Ceded premiums written | $ | 507 |  |  | $ | 442 |  |  | $ | 350 |
Commissions received | $ | 138 |  |  | $ | 133 |  |  | $ | 100 |
Consolidated balance sheets |  |  |  |  |
Reinsurance recoverable on losses and loss expenses | $ | 1,050 |  |  | $ | 963 |  |  |
Ceded reinsurance premium payable | $ | 110 |  |  | $ | 107 |  |  |
Aquiline Capital Partners LLC Chubb invests in private investment funds managed by Aquiline Capital Partners LLC (collectively, Aquiline Funds), of which its chief executive officer is related to a member of our senior management team. We have more than a three percent ownership interest in these funds and therefore account for them under the equity method of accounting. At December 31, 2022, Chubb has approximately $267 million of future contribution commitments to Aquiline Funds. Transactions generated from investments in Aquiline Funds are as follows:
| Year Ended December 31
(in millions of U.S. dollars) | 2022 |  | 2021 |  | 2020
Consolidated statements of operations |  |  |  |  |
Other income (expense) | $ | 8 |  |  | $ | 68 |  |  | $ | 2 |
Consolidated balance sheets |  |  |  |  |
Other investments | $ | 271 |  |  | $ | 245 |  |  |

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- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates. + References No definition available. + Details
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