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Goodwill and Value of business acquired | 6 Months Ended
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Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets Disclosure [Text Block] | Goodwill and Value of business acquired 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, 2022 | $ | 6,945 |  |  | $ | 2,230 |  |  | $ | 134 |  |  | $ | 4,605 |  |  | $ | 371 |  |  | $ | 1,943 |  |  | $ | 16,228 |
Foreign exchange revaluation and other | 10 |  |  | 4 |  |  | — |  |  | 139 |  |  | — |  |  | (59) |  |  | 94 |
Balance at June 30, 2023 | $ | 6,955 |  |  | $ | 2,234 |  |  | $ | 134 |  |  | $ | 4,744 |  |  | $ | 371 |  |  | $ | 1,884 |  |  | $ | 16,322 |
VOBA Value of business acquired (VOBA) represents the fair value of the future profits of in-force long duration contracts from businesses acquired, principally Cigna's Asian business, and is amortized in relation to the profit emergence of the underlying contracts. The VOBA calculation is based on many factors including mortality, morbidity, persistency, investment yields, expenses, and the discount rate, with the discount rate being the most significant factor. The following table presents a roll-forward of VOBA:
| Six Months Ended
| June 30 |  |
(in millions of U.S. dollars) | 2023 |  |
Balance, beginning of period | $ | 3,702 |  |  |
Amortization of VOBA (1) | (162) |  |  |
Foreign exchange revaluation and other | 35 |  |  |
Balance, end of period | $ | 3,575 |  |  |
(1)Recognized in Policy acquisition costs in the Consolidated statements of operations.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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