XML 78 R58.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Segment information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Segment Reporting [Abstract] |
Operations by segment | The following tables present the Statement of Operations by segment:
For the Year Ended December 31, 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 | $ | 19,237 |  |  | $ | 5,878 |  |  | $ | 3,188 |  |  | $ | 12,575 |  |  | $ | 1,018 |  |  | $ | 5,465 |  |  | $ | — |  |  | $ | — |  |  | $ | 47,361 |
Net premiums earned | 18,416 |  |  | 5,536 |  |  | 3,169 |  |  | 12,231 |  |  | 962 |  |  | 5,398 |  |  | — |  |  | — |  |  | 45,712 |
Losses and loss expenses | 11,256 |  |  | 3,511 |  |  | 2,874 |  |  | 5,643 |  |  | 426 |  |  | 114 |  |  | 281 |  |  | (5) |  |  | 24,100 |
Policy benefits | — |  |  | — |  |  | — |  |  | 457 |  |  | — |  |  | 3,216 |  |  | — |  |  | (45) |  |  | 3,628 |
Policy acquisition costs | 2,515 |  |  | 1,128 |  |  | 150 |  |  | 3,113 |  |  | 264 |  |  | 1,089 |  |  | — |  |  | — |  |  | 8,259 |
Administrative expenses | 1,250 |  |  | 329 |  |  | (1) |  |  | 1,219 |  |  | 37 |  |  | 771 |  |  | 402 |  |  | — |  |  | 4,007 |
Underwriting income (loss) | 3,395 |  |  | 568 |  |  | 146 |  |  | 1,799 |  |  | 235 |  |  | 208 |  |  | (683) |  |  | 50 |  |  | 5,718 |
Net investment income | 3,017 |  |  | 358 |  |  | 63 |  |  | 895 |  |  | 208 |  |  | 756 |  |  | 25 |  |  | (385) |  |  | 4,937 |
Other (income) expense | 22 |  |  | 3 |  |  | 1 |  |  | (25) |  |  | (2) |  |  | (115) |  |  | (380) |  |  | (340) |  |  | (836) |
Amortization expense of purchased intangibles | — |  |  | 9 |  |  | 25 |  |  | 70 |  |  | — |  |  | 30 |  |  | 176 |  |  | — |  |  | 310 |
Segment income (loss) | $ | 6,390 |  |  | $ | 914 |  |  | $ | 183 |  |  | $ | 2,649 |  |  | $ | 445 |  |  | $ | 1,049 |  |  | $ | (454) |  |  | $ | 5 |  |  | $ | 11,181 |
Net realized gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | (602) |  |  | (5) |  |  | (607) |
Market risk benefits gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | (307) |  |  | — |  |  | (307) |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 672 |  |  | — |  |  | 672 |
Cigna integration expenses |  |  |  |  |  |  |  |  |  |  |  |  | 69 |  |  | — |  |  | 69 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 511 |  |  | — |  |  | 511 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  | $ | (2,615) |  |  | $ | — |  |  | $ | 9,015 |
Net loss attributable to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | (13) |  |  | — |  |  | (13) |
Net income (loss) attributable to Chubb |  |  |  |  |  |  |  |  |  |  |  |  | $ | (2,602) |  |  | $ | — |  |  | $ | 9,028 |
For the Year Ended December 31, 2022 (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 | $ | 17,889 |  |  | $ | 5,313 |  |  | $ | 2,907 |  |  | $ | 11,060 |  |  | $ | 943 |  |  | $ | 3,608 |  |  | $ | — |  |  | $ | — |  |  | $ | 41,720 |
Net premiums earned | 17,107 |  |  | 5,180 |  |  | 2,838 |  |  | 10,803 |  |  | 922 |  |  | 3,510 |  |  | — |  |  | — |  |  | 40,360 |
Losses and loss expenses | 10,828 |  |  | 3,186 |  |  | 2,557 |  |  | 4,894 |  |  | 670 |  |  | 85 |  |  | 363 |  |  | (11) |  |  | 22,572 |
Policy benefits | — |  |  | — |  |  | — |  |  | 358 |  |  | — |  |  | 1,998 |  |  | — |  |  | (42) |  |  | 2,314 |
Policy acquisition costs | 2,313 |  |  | 1,057 |  |  | 126 |  |  | 2,818 |  |  | 240 |  |  | 785 |  |  | — |  |  | — |  |  | 7,339 |
Administrative expenses | 1,113 |  |  | 291 |  |  | (10) |  |  | 1,070 |  |  | 36 |  |  | 510 |  |  | 385 |  |  | — |  |  | 3,395 |
Underwriting income (loss) | 2,853 |  |  | 646 |  |  | 165 |  |  | 1,663 |  |  | (24) |  |  | 132 |  |  | (748) |  |  | 53 |  |  | 4,740 |
Net investment income | 2,247 |  |  | 283 |  |  | 36 |  |  | 626 |  |  | 281 |  |  | 509 |  |  | — |  |  | (240) |  |  | 3,742 |
Other (income) expense | 17 |  |  | 4 |  |  | 1 |  |  | 2 |  |  | 1 |  |  | (30) |  |  | 292 |  |  | (198) |  |  | 89 |
Amortization expense of purchased intangibles | — |  |  | 10 |  |  | 26 |  |  | 57 |  |  | — |  |  | 10 |  |  | 182 |  |  | — |  |  | 285 |
Segment income (loss) | $ | 5,083 |  |  | $ | 915 |  |  | $ | 174 |  |  | $ | 2,230 |  |  | $ | 256 |  |  | $ | 661 |  |  | $ | (1,222) |  |  | $ | 11 |  |  | $ | 8,108 |
Net realized gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | (1,074) |  |  | (11) |  |  | (1,085) |
Market risk benefits gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | 80 |  |  | — |  |  | 80 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 570 |  |  | — |  |  | 570 |
Cigna integration expenses |  |  |  |  |  |  |  |  |  |  |  |  | 48 |  |  | — |  |  | 48 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 1,239 |  |  | — |  |  | 1,239 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  | $ | (4,073) |  |  | $ | — |  |  | $ | 5,246 |
For the Year Ended December 31, 2021 (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 | $ | 16,415 |  |  | $ | 5,002 |  |  | $ | 2,388 |  |  | $ | 10,713 |  |  | $ | 873 |  |  | $ | 2,436 |  |  | $ | — |  |  | $ | — |  |  | $ | 37,827 |
Net premiums earned | 15,461 |  |  | 4,915 |  |  | 2,338 |  |  | 10,441 |  |  | 798 |  |  | 2,339 |  |  | — |  |  | — |  |  | 36,292 |
Losses and loss expenses | 10,015 |  |  | 2,924 |  |  | 1,962 |  |  | 4,783 |  |  | 632 |  |  | 150 |  |  | 572 |  |  | (8) |  |  | 21,030 |
Policy benefits | — |  |  | — |  |  | — |  |  | 360 |  |  | — |  |  | 1,388 |  |  | — |  |  | (8) |  |  | 1,740 |
Policy acquisition costs | 2,082 |  |  | 1,001 |  |  | 124 |  |  | 2,799 |  |  | 200 |  |  | 552 |  |  | — |  |  | — |  |  | 6,758 |
Administrative expenses | 1,052 |  |  | 276 |  |  | (3) |  |  | 1,078 |  |  | 35 |  |  | 332 |  |  | 365 |  |  | — |  |  | 3,135 |
Underwriting income (loss) | 2,312 |  |  | 714 |  |  | 255 |  |  | 1,421 |  |  | (69) |  |  | (83) |  |  | (937) |  |  | 16 |  |  | 3,629 |
Net investment income | 2,078 |  |  | 249 |  |  | 28 |  |  | 597 |  |  | 331 |  |  | 407 |  |  | (55) |  |  | (179) |  |  | 3,456 |
Other (income) expense | 31 |  |  | (2) |  |  | 1 |  |  | — |  |  | — |  |  | (108) |  |  | (2,118) |  |  | (171) |  |  | (2,367) |
Amortization expense of purchased intangibles | — |  |  | 10 |  |  | 26 |  |  | 48 |  |  | — |  |  | 5 |  |  | 198 |  |  | — |  |  | 287 |
Segment income | $ | 4,359 |  |  | $ | 955 |  |  | $ | 256 |  |  | $ | 1,970 |  |  | $ | 262 |  |  | $ | 427 |  |  | $ | 928 |  |  | $ | 8 |  |  | $ | 9,165 |
Net realized gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | 1,038 |  |  | (8) |  |  | 1,030 |
Market risk benefits gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | 91 |  |  | — |  |  | 91 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 492 |  |  | — |  |  | 492 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 1,269 |  |  | — |  |  | 1,269 |
Net income |  |  |  |  |  |  |  |  |  |  |  |  | $ | 296 |  |  | $ | — |  |  | $ | 8,525 |
Net premiums earned by line of business | The following table presents net premiums earned for each segment by line of business:
| For the Year Ended December 31
(in millions of U.S. dollars) | 2023 |  | 2022 |  | 2021
North America Commercial P&C Insurance |  |  |  |  |
Property & other short-tail lines | $ | 3,985 |  |  | $ | 3,383 |  |  | $ | 2,942 |
Casualty & all other | 13,764 |  |  | 13,056 |  |  | 11,905 |
A&H | 667 |  |  | 668 |  |  | 614 |
Total North America Commercial P&C Insurance | 18,416 |  |  | 17,107 |  |  | 15,461 |
North America Personal P&C Insurance |  |  |  |  |
Personal automobile | 859 |  |  | 811 |  |  | 781 |
Personal homeowners | 3,833 |  |  | 3,557 |  |  | 3,384 |
Personal other | 844 |  |  | 812 |  |  | 750 |
Total North America Personal P&C Insurance | 5,536 |  |  | 5,180 |  |  | 4,915 |
North America Agricultural Insurance | 3,169 |  |  | 2,838 |  |  | 2,338 |
Overseas General Insurance |  |  |  |  |
Property & other short-tail lines | 3,831 |  |  | 3,382 |  |  | 3,105 |
Casualty & all other | 3,526 |  |  | 3,232 |  |  | 3,114 |
Personal lines | 2,405 |  |  | 2,020 |  |  | 2,109 |
A&H | 2,469 |  |  | 2,169 |  |  | 2,113 |
Total Overseas General Insurance | 12,231 |  |  | 10,803 |  |  | 10,441 |
Global Reinsurance |  |  |  |  |
Property | 331 |  |  | 211 |  |  | 151 |
Property catastrophe | 159 |  |  | 208 |  |  | 190 |
Casualty & all other | 472 |  |  | 503 |  |  | 457 |
Total Global Reinsurance | 962 |  |  | 922 |  |  | 798 |
Life Insurance |  |  |  |  |
Life | 2,301 |  |  | 1,455 |  |  | 1,257 |
A&H | 3,097 |  |  | 2,055 |  |  | 1,082 |
Total Life Insurance | 5,398 |  |  | 3,510 |  |  | 2,339 |
Total net premiums earned | $ | 45,712 |  |  | $ | 40,360 |  |  | $ | 36,292 |
Net premiums earned by geographic region | The following table presents net premiums earned by geographic region. Allocations have been made on the basis of location of risk:
| North America |  | Europe (1) |  | Asia Pacific / Japan (2) |  | Latin America
2023 | 65 | % |  | 11 | % |  | 18 | % |  | 6 | %
2022 | 69 | % |  | 11 | % |  | 14 | % |  | 6 | %
2021 | 70 | % |  | 12 | % |  | 12 | % |  | 6 | %
(1) Europe includes Middle East and Africa regions. (2) 2023 includes the consolidated results of Huatai Group effective July 1, 2023.

X
- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 + Details
Name: | us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the names of foreign countries from which revenue is material and the amount of revenue from external customers attributed to those countries. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 + Details
Name: | us-gaap_ScheduleOfRevenueFromExternalCustomersAttributedToForeignCountriesByGeographicAreaTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration