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Shareholders' Equity (Tables) | 6 Months Ended
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Jun. 30, 2023
Stockholders' Equity Note [Abstract] |
Dividends Declared | The following table presents dividend distributions per Common Share in Swiss francs (CHF) and U.S. dollars (USD):
| Three Months Ended |  | Six Months Ended
| June 30 |  | June 30
| 2023 |  | 2022 |  | 2023 |  | 2022
CHF |  | USD |  | CHF |  | USD |  | CHF |  | USD |  | CHF |  | USD
Total dividend distributions per common share | 0.77 |  | $ | 0.86 |  |  | 0.80 |  | $ | 0.83 |  |  | 1.54 |  | $ | 1.69 |  |  | 1.54 |  | $ | 1.63 |
Share Repurchase Program [Table Text Block] | The following table presents repurchases of Chubb's Common Shares conducted in a series of open market transactions under the Board authorizations:
| Three Months Ended |  | Six Months Ended |  |
| June 30 |  | June 30 |
(in millions of U.S. dollars, except share data) | 2023 |  | 2022 |  | 2023 |  | 2022 |
Number of shares repurchased | 3,674,300 |  |  | 5,476,300 |  |  | 5,684,700 |  |  | 10,346,200 |  |  |
Cost of shares repurchased | $ | 724 |  |  | $ | 1,129 |  |  | $ | 1,152 |  |  | $ | 2,130 |  |  |
Repurchase authorization remaining at end of period (1) | $ | — |  |  | $ | 2,500 |  |  | $ | — |  |  | $ | 2,500 |  |  |
(1) As of June 30, 2023, $474 million expired under the May 2022 $2.5 billion share repurchase authorization.
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table presents changes in accumulated other comprehensive income (loss):
| Three Months Ended |  | Six Months Ended
| June 30 |  | June 30
| 2023 |  | 2022 |  | 2023 |  | 2022
(in millions of U.S. dollars) |  |  | As Adjusted |  |  |  | As Adjusted
Accumulated other comprehensive income (loss) (AOCI) |  |  |  |  |  |  |
Net unrealized appreciation (depreciation) on investments |  |  |  |  |  |  |
Balance – beginning of period, net of tax | $ | (5,659) |  |  | $ | (1,584) |  |  | $ | (7,279) |  |  | $ | 2,256 |
Change in period, before reclassification from AOCI (before tax) | (1,301) |  |  | (4,786) |  |  | 305 |  |  | (9,574) |
Amounts reclassified from AOCI (before tax) | 107 |  |  | 442 |  |  | 287 |  |  | 578 |
Change in period, before tax | (1,194) |  |  | (4,344) |  |  | 592 |  |  | (8,996) |
Income tax (expense) benefit | 44 |  |  | 215 |  |  | (122) |  |  | 1,027 |
Balance – end of period, net of tax | (6,809) |  |  | (5,713) |  |  | (6,809) |  |  | (5,713) |
Current discount rate on liability for future policy benefits |  |  |  |  |  |  |
Balance – beginning of period, net of tax | (205) |  |  | (997) |  |  | (75) |  |  | (1,399) |
Change in period, before tax | (35) |  |  | 632 |  |  | (186) |  |  | 1,067 |
Income tax (expense) benefit | (7) |  |  | (62) |  |  | 14 |  |  | (95) |
Balance – end of period, net of tax | (247) |  |  | (427) |  |  | (247) |  |  | (427) |
Instrument-specific credit risk on market risk benefits |  |  |  |  |  |  |
Balance – beginning of period, net of tax | (27) |  |  | (34) |  |  | (24) |  |  | (57) |
Change in period, before and net of tax | 11 |  |  | 17 |  |  | 8 |  |  | 40 |
Balance – end of period, net of tax | (16) |  |  | (17) |  |  | (16) |  |  | (17) |
Cumulative foreign currency translation adjustment |  |  |  |  |  |  |
Balance – beginning of period, net of tax | (3,136) |  |  | (2,043) |  |  | (2,966) |  |  | (2,114) |
Change in period, before reclassification from AOCI (before tax) | 219 |  |  | (756) |  |  | 45 |  |  | (689) |
Amounts reclassified from AOCI (before tax) | (4) |  |  | — |  |  | (7) |  |  | — |
Change in period, before tax | 215 |  |  | (756) |  |  | 38 |  |  | (689) |
Income tax benefit | 1 |  |  | 31 |  |  | 8 |  |  | 35 |
Balance – end of period, net of tax | (2,920) |  |  | (2,768) |  |  | (2,920) |  |  | (2,768) |
Fair value hedging instruments |  |  |  |  |  |  |
Balance – beginning of period, net of tax | (92) |  |  | — |  |  | (66) |  |  | — |
Change in period, before reclassification from AOCI (before tax) | 57 |  |  | — |  |  | 40 |  |  | — |
Amounts reclassified from AOCI (before tax) | (7) |  |  | — |  |  | (23) |  |  | — |
Change in period, before tax | 50 |  |  | — |  |  | 17 |  |  | — |
Income tax expense | (11) |  |  | — |  |  | (4) |  |  | — |
Balance – end of period, net of tax | (53) |  |  | — |  |  | (53) |  |  | — |
Postretirement benefit liability adjustment |  |  |  |  |  |  |
Balance – beginning of period, net of tax | 224 |  |  | 255 |  |  | 225 |  |  | 240 |
Change in period, before tax | (2) |  |  | 5 |  |  | (2) |  |  | 24 |
Income tax (expense) benefit | 1 |  |  | (1) |  |  | — |  |  | (5) |
Balance – end of period, net of tax | 223 |  |  | 259 |  |  | 223 |  |  | 259 |
Accumulated other comprehensive income (loss) | $ | (9,822) |  |  | $ | (8,666) |  |  | $ | (9,822) |  |  | $ | (8,666) |
Reclassification out of Accumulated Other Comprehensive Income | The following table presents reclassifications from accumulated other comprehensive income (loss) to the Consolidated statements of operations:
| Three Months Ended |  | Six Months Ended | Consolidated Statement of Operations Location
| June 30 |  | June 30
(in millions of U.S. dollars) | 2023 |  | 2022 |  | 2023 |  | 2022
Fixed maturities available for sale | $ | (107) |  |  | $ | (442) |  |  | $ | (287) |  |  | $ | (578) |  | Net realized gains (losses)
Income tax benefit | 16 |  |  | 77 |  |  | 34 |  |  | 99 |  | Income tax expense
| $ | (91) |  |  | $ | (365) |  |  | $ | (253) |  |  | $ | (479) |  | Net income
Cumulative foreign currency translation adjustment |  |  |  |  |  |  |  |
Cross-currency swaps | $ | 4 |  |  | $ | — |  |  | $ | 7 |  |  | $ | — |  | Interest expense
Income tax expense | — |  |  | — |  |  | (1) |  |  | — |  | Income tax expense
| $ | 4 |  |  | $ | — |  |  | $ | 6 |  |  | $ | — |  | Net income
Net gains (losses) of fair value hedging instruments |  |  |  |  |  |  |  |
Cross-currency swaps | $ | 11 |  |  | $ | — |  |  | $ | 31 |  |  | $ | — |  | Net realized gains (losses)
Cross-currency swaps | (4) |  |  | — |  |  | (8) |  |  | — |  | Interest expense
Income tax expense | (2) |  |  | — |  |  | (5) |  |  | — |  | Income tax expense
| $ | 5 |  |  | $ | — |  |  | $ | 18 |  |  | $ | — |  | Net income
Total amounts reclassified from AOCI | $ | (82) |  |  | $ | (365) |  |  | $ | (229) |  |  | $ | (479) |  |

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