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Segment information (Tables) | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
Operations By Segment | The following tables present the Statement of Operations by segment:
For the Three Months Ended June 30, 2023 (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 |  | Corporate |  | Segment Measure Reclass |  | Chubb Consolidated
Net premiums written | $ | 5,155 |  |  | $ | 1,581 |  |  | $ | 767 |  |  | $ | 2,885 |  |  | $ | 293 |  |  | $ | 1,270 |  |  | $ | — |  |  | $ | — |  |  | $ | 11,951 |
Net premiums earned | 4,606 |  |  | 1,357 |  |  | 635 |  |  | 2,908 |  |  | 237 |  |  | 1,256 |  |  | — |  |  | — |  |  | 10,999 |
Losses and loss expenses | 2,871 |  |  | 846 |  |  | 507 |  |  | 1,267 |  |  | 91 |  |  | 35 |  |  | 61 |  |  | 5 |  |  | 5,683 |
Policy benefits | — |  |  | — |  |  | — |  |  | 137 |  |  | — |  |  | 705 |  |  | — |  |  | (12) |  |  | 830 |
Policy acquisition costs | 614 |  |  | 277 |  |  | 37 |  |  | 746 |  |  | 65 |  |  | 277 |  |  | — |  |  | — |  |  | 2,016 |
Administrative expenses | 316 |  |  | 84 |  |  | 3 |  |  | 292 |  |  | 9 |  |  | 170 |  |  | 95 |  |  | — |  |  | 969 |
Underwriting income (loss) | 805 |  |  | 150 |  |  | 88 |  |  | 466 |  |  | 72 |  |  | 69 |  |  | (156) |  |  | 7 |  |  | 1,501 |
Net investment income | 726 |  |  | 86 |  |  | 14 |  |  | 200 |  |  | 48 |  |  | 161 |  |  | 3 |  |  | (93) |  |  | 1,145 |
Other (income) expense | 5 |  |  | (1) |  |  | (1) |  |  | (10) |  |  | — |  |  | (26) |  |  | 14 |  |  | (81) |  |  | (100) |
Amortization expense of purchased intangibles | — |  |  | 3 |  |  | 7 |  |  | 15 |  |  | — |  |  | 2 |  |  | 43 |  |  | — |  |  | 70 |
Segment income (loss) | $ | 1,526 |  |  | $ | 234 |  |  | $ | 96 |  |  | $ | 661 |  |  | $ | 120 |  |  | $ | 254 |  |  | $ | (210) |  |  | $ | (5) |  |  | $ | 2,676 |
Net realized gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | (309) |  |  | 5 |  |  | (304) |
Market risk benefits gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | (7) |  |  | — |  |  | (7) |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 165 |  |  | — |  |  | 165 |
Cigna integration expenses |  |  |  |  |  |  |  |  |  |  |  |  | 15 |  |  | — |  |  | 15 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 392 |  |  | — |  |  | 392 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  | $ | (1,098) |  |  | $ | — |  |  | $ | 1,793 |
For the Three Months Ended June 30, 2022 (As Adjusted) (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 |  | Corporate |  | Segment Measure Reclass |  | Chubb Consolidated
Net premiums written | $ | 4,665 |  |  | $ | 1,426 |  |  | $ | 738 |  |  | $ | 2,640 |  |  | $ | 262 |  |  | $ | 562 |  |  | $ | — |  |  | $ | — |  |  | $ | 10,293 |
Net premiums earned | 4,248 |  |  | 1,271 |  |  | 573 |  |  | 2,696 |  |  | 222 |  |  | 539 |  |  | — |  |  | — |  |  | 9,549 |
Losses and loss expenses | 2,446 |  |  | 773 |  |  | 478 |  |  | 1,143 |  |  | 139 |  |  | 27 |  |  | 191 |  |  | 9 |  |  | 5,206 |
Policy benefits | — |  |  | — |  |  | — |  |  | 81 |  |  | — |  |  | 298 |  |  | — |  |  | (18) |  |  | 361 |
Policy acquisition costs | 545 |  |  | 258 |  |  | 31 |  |  | 697 |  |  | 57 |  |  | 138 |  |  | — |  |  | — |  |  | 1,726 |
Administrative expenses | 277 |  |  | 73 |  |  | 2 |  |  | 278 |  |  | 10 |  |  | 88 |  |  | 90 |  |  | — |  |  | 818 |
Underwriting income (loss) | 980 |  |  | 167 |  |  | 62 |  |  | 497 |  |  | 16 |  |  | (12) |  |  | (281) |  |  | 9 |  |  | 1,438 |
Net investment income (loss) | 522 |  |  | 64 |  |  | 7 |  |  | 162 |  |  | 76 |  |  | 109 |  |  | (4) |  |  | (48) |  |  | 888 |
Other (income) expense | — |  |  | 1 |  |  | — |  |  | 3 |  |  | 1 |  |  | (12) |  |  | 138 |  |  | (30) |  |  | 101 |
Amortization expense of purchased intangibles | — |  |  | 3 |  |  | 6 |  |  | 14 |  |  | — |  |  | 3 |  |  | 45 |  |  | — |  |  | 71 |
Segment income (loss) | $ | 1,502 |  |  | $ | 227 |  |  | $ | 63 |  |  | $ | 642 |  |  | $ | 91 |  |  | $ | 106 |  |  | $ | (468) |  |  | $ | (9) |  |  | $ | 2,154 |
Net realized gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | (512) |  |  | 9 |  |  | (503) |
Market risk benefits gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | (33) |  |  | — |  |  | (33) |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 134 |  |  | — |  |  | 134 |
Cigna integration expenses |  |  |  |  |  |  |  |  |  |  |  |  | 3 |  |  | — |  |  | 3 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 291 |  |  | — |  |  | 291 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  | $ | (1,441) |  |  | $ | — |  |  | $ | 1,190 |
For the Six Months Ended June 30, 2023 (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 |  | Corporate |  | Segment Measure Reclass |  | Chubb Consolidated
Net premiums written | $ | 9,443 |  |  | $ | 2,877 |  |  | $ | 1,060 |  |  | $ | 6,148 |  |  | $ | 570 |  |  | $ | 2,563 |  |  | $ | — |  |  | $ | — |  |  | $ | 22,661 |
Net premiums earned | 8,975 |  |  | 2,677 |  |  | 794 |  |  | 5,694 |  |  | 481 |  |  | 2,520 |  |  | — |  |  | — |  |  | 21,141 |
Losses and loss expenses | 5,600 |  |  | 1,734 |  |  | 647 |  |  | 2,504 |  |  | 203 |  |  | 67 |  |  | 72 |  |  | 4 |  |  | 10,831 |
Policy benefits | — |  |  | — |  |  | — |  |  | 247 |  |  | — |  |  | 1,417 |  |  | — |  |  | (37) |  |  | 1,627 |
Policy acquisition costs | 1,227 |  |  | 549 |  |  | 52 |  |  | 1,459 |  |  | 127 |  |  | 550 |  |  | — |  |  | — |  |  | 3,964 |
Administrative expenses | 611 |  |  | 163 |  |  | 6 |  |  | 572 |  |  | 18 |  |  | 337 |  |  | 192 |  |  | — |  |  | 1,899 |
Underwriting income (loss) | 1,537 |  |  | 231 |  |  | 89 |  |  | 912 |  |  | 133 |  |  | 149 |  |  | (264) |  |  | 33 |  |  | 2,820 |
Net investment income | 1,424 |  |  | 168 |  |  | 31 |  |  | 388 |  |  | 97 |  |  | 314 |  |  | 14 |  |  | (184) |  |  | 2,252 |
Other (income) expense | 12 |  |  | — |  |  | — |  |  | (19) |  |  | (1) |  |  | (41) |  |  | (200) |  |  | (147) |  |  | (396) |
Amortization expense of purchased intangibles | — |  |  | 5 |  |  | 13 |  |  | 33 |  |  | — |  |  | 6 |  |  | 85 |  |  | — |  |  | 142 |
Segment income (loss) | $ | 2,949 |  |  | $ | 394 |  |  | $ | 107 |  |  | $ | 1,286 |  |  | $ | 231 |  |  | $ | 498 |  |  | $ | (135) |  |  | $ | (4) |  |  | $ | 5,326 |
Net realized gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | (385) |  |  | 4 |  |  | (381) |
Market risk benefits gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | (122) |  |  | — |  |  | (122) |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 325 |  |  | — |  |  | 325 |
Cigna integration expenses |  |  |  |  |  |  |  |  |  |  |  |  | 37 |  |  | — |  |  | 37 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 776 |  |  | — |  |  | 776 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  | $ | (1,780) |  |  | $ | — |  |  | $ | 3,685 |
For the Six Months Ended June 30, 2022 (As Adjusted) (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 |  | Corporate |  | Segment Measure Reclass |  | Chubb Consolidated
Net premiums written | $ | 8,704 |  |  | $ | 2,606 |  |  | $ | 800 |  |  | $ | 5,719 |  |  | $ | 515 |  |  | $ | 1,138 |  |  | $ | — |  |  | $ | — |  |  | $ | 19,482 |
Net premiums earned | 8,362 |  |  | 2,518 |  |  | 544 |  |  | 5,324 |  |  | 457 |  |  | 1,081 |  |  | — |  |  | — |  |  | 18,286 |
Losses and loss expenses | 4,943 |  |  | 1,486 |  |  | 386 |  |  | 2,439 |  |  | 254 |  |  | 51 |  |  | 201 |  |  | 10 |  |  | 9,770 |
Policy benefits | — |  |  | — |  |  | — |  |  | 174 |  |  | — |  |  | 609 |  |  | — |  |  | (49) |  |  | 734 |
Policy acquisition costs | 1,118 |  |  | 518 |  |  | 43 |  |  | 1,376 |  |  | 119 |  |  | 271 |  |  | — |  |  | — |  |  | 3,445 |
Administrative expenses | 542 |  |  | 142 |  |  | 1 |  |  | 547 |  |  | 19 |  |  | 172 |  |  | 173 |  |  | — |  |  | 1,596 |
Underwriting income (loss) | 1,759 |  |  | 372 |  |  | 114 |  |  | 788 |  |  | 65 |  |  | (22) |  |  | (374) |  |  | 39 |  |  | 2,741 |
Net investment income (loss) | 1,011 |  |  | 123 |  |  | 14 |  |  | 309 |  |  | 161 |  |  | 212 |  |  | (9) |  |  | (111) |  |  | 1,710 |
Other (income) expense | 6 |  |  | 2 |  |  | — |  |  | 5 |  |  | 1 |  |  | (42) |  |  | (121) |  |  | (62) |  |  | (211) |
Amortization expense of purchased intangibles | — |  |  | 5 |  |  | 13 |  |  | 28 |  |  | — |  |  | 5 |  |  | 91 |  |  | — |  |  | 142 |
Segment income (loss) | $ | 2,764 |  |  | $ | 488 |  |  | $ | 115 |  |  | $ | 1,064 |  |  | $ | 225 |  |  | $ | 227 |  |  | $ | (353) |  |  | $ | (10) |  |  | $ | 4,520 |
Net realized gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | (490) |  |  | 10 |  |  | (480) |
Market risk benefits gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | 16 |  |  | — |  |  | 16 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 266 |  |  | — |  |  | 266 |
Cigna integration expenses |  |  |  |  |  |  |  |  |  |  |  |  | 3 |  |  | — |  |  | 3 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 644 |  |  | — |  |  | 644 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  | $ | (1,740) |  |  | $ | — |  |  | $ | 3,143 |

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