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Separate accounts | 6 Months Ended
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Jun. 30, 2023
Separate Accounts Disclosure [Abstract] |
Separate Accounts | Separate accounts Separate account assets represent segregated funds where investment risks are borne by the customers, except to the extent of certain guarantees made by Chubb. The assets that support variable contracts are measured at fair value and are reported as Separate account assets and corresponding liabilities are reported within Separate account liabilities on the Consolidated balance sheets. Policy charges assessed against the policyholders for mortality, administration, and other services are included in Net premiums earned on the Consolidated statements of operations. The following table presents the aggregate fair value of Separate account assets, by major security type:
| June 30 |  | December 31
(in millions of U.S. dollars) | 2023 |  | 2022
Cash and cash equivalents | $ | 98 |  |  | $ | 141 |
Mutual funds | 5,382 |  |  | 4,960 |
Fixed maturities | 94 |  |  | 89 |
Total | $ | 5,574 |  |  | $ | 5,190 |
The following table presents a roll-forward of separate account liabilities:
| Six Months Ended
| June 30
(in millions of U.S. dollars) | 2023 |  | 2022
Balance – beginning of period | $ | 5,190 |  |  | $ | 5,560 |
Premiums and deposits | 517 |  |  | 796 |
Policy charges | (70) |  |  | (60) |
Surrenders and withdrawals | (246) |  |  | (196) |
Benefit payments | (193) |  |  | (193) |
Investment performance | 361 |  |  | (936) |
Other (including foreign exchange) | 15 |  |  | (146) |
Balance – end of period | $ | 5,574 |  |  | $ | 4,825 |
Cash surrender value (1) | $ | 5,369 |  |  | $ | 4,625 |
(1) Cash surrender value represents the amount of the contract holder's account balances distributable at the balance sheet date less certain surrender charges.

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- Definition The entire disclosure for separate account. Includes, but is not limited to, extent and terms of minimum guarantee. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -SubTopic 80 -Topic 944 -Publisher FASB -URI https://asc.fasb.org//944-80/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -SubTopic 80 -Topic 944 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480109/944-80-50-1 + Details
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