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Shareholders' Equity (Tables) | 3 Months Ended
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Mar. 31, 2024
Stockholders' Equity Note [Abstract] |
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 |  | April 1,2024 through April 25, 2024
|  |  | March 31 |
(in millions of U.S. dollars, except share data) |  |  |  |  | 2024 |  | 2023 |
Number of shares repurchased |  |  |  |  | 1,220,121 |  |  | 2,010,400 |  |  | 250,000 |
Cost of shares repurchased |  |  |  |  | $ | 316 |  |  | $ | 428 |  |  | $ | 62 |
Repurchase authorization remaining at end of period |  |  |  |  | $ | 3,373 |  |  | $ | 1,193 |  |  | $ | 3,312 |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table presents changes in accumulated other comprehensive income (loss):
|  |  | Three Months Ended
|  |  | March 31
(in millions of U.S. dollars) |  |  |  |  | 2024 |  | 2023
Accumulated other comprehensive income (loss) (AOCI) |  |  |  |  |  |  |
Net unrealized appreciation (depreciation) on investments |  |  |  |  |  |  |
Balance – beginning of period, net of tax |  |  |  |  | $ | (4,177) |  |  | $ | (7,279) |
Change in period, before reclassification from AOCI (before tax) |  |  |  |  | (796) |  |  | 1,606 |
Amounts reclassified from AOCI (before tax) |  |  |  |  | 119 |  |  | 180 |
Change in period, before tax |  |  |  |  | (677) |  |  | 1,786 |
Income tax (expense) benefit |  |  |  |  | 42 |  |  | (166) |
Total other comprehensive income (loss) |  |  |  |  | (635) |  |  | 1,620 |
Noncontrolling interests, net of tax |  |  |  |  | 13 |  |  | — |
Balance – end of period, net of tax |  |  |  |  | (4,825) |  |  | (5,659) |
Current discount rate on liability for future policy benefits |  |  |  |  |  |  |
Balance – beginning of period, net of tax |  |  |  |  | 51 |  |  | (75) |
Change in period, before tax |  |  |  |  | (53) |  |  | (151) |
Income tax (expense) benefit |  |  |  |  | (20) |  |  | 21 |
Total other comprehensive loss |  |  |  |  | (73) |  |  | (130) |
Noncontrolling interests, net of tax |  |  |  |  | (33) |  |  | — |
Balance – end of period, net of tax |  |  |  |  | 11 |  |  | (205) |
Instrument-specific credit risk on market risk benefits |  |  |  |  |  |  |
Balance – beginning of period, net of tax |  |  |  |  | (22) |  |  | (24) |
Change in period, before and net of tax |  |  |  |  | 5 |  |  | (3) |
Total other comprehensive income (loss) |  |  |  |  | 5 |  |  | (3) |
Noncontrolling interests, net of tax |  |  |  |  | — |  |  | — |
Balance – end of period, net of tax |  |  |  |  | (17) |  |  | (27) |
Cumulative foreign currency translation adjustment |  |  |  |  |  |  |
Balance – beginning of period, net of tax |  |  |  |  | (2,945) |  |  | (2,966) |
Change in period, before reclassification from AOCI (before tax) |  |  |  |  | 83 |  |  | (174) |
Amounts reclassified from AOCI (before tax) |  |  |  |  | (3) |  |  | (3) |
Change in period, before tax |  |  |  |  | 80 |  |  | (177) |
Income tax (expense) benefit |  |  |  |  | (7) |  |  | 7 |
Total other comprehensive income (loss) |  |  |  |  | 73 |  |  | (170) |
Noncontrolling interests, net of tax |  |  |  |  | (8) |  |  | — |
Balance – end of period, net of tax |  |  |  |  | (2,864) |  |  | (3,136) |
|  |  | Three Months Ended
|  |  | March 31
(in millions of U.S. dollars) |  |  |  |  | 2024 |  | 2023
Accumulated other comprehensive income (loss) (AOCI) - continued |  |  |  |  |  |  |
Fair value hedging instruments |  |  |  |  |  |  |
Balance – beginning of period, net of tax |  |  |  |  | (13) |  |  | (66) |
Change in period, before reclassification from AOCI (before tax) |  |  |  |  | (8) |  |  | (17) |
Amounts reclassified from AOCI (before tax) |  |  |  |  | 41 |  |  | (16) |
Change in period, before tax |  |  |  |  | 33 |  |  | (33) |
Income tax (expense) benefit |  |  |  |  | (7) |  |  | 7 |
Total other comprehensive income (loss) |  |  |  |  | 26 |  |  | (26) |
Noncontrolling interests, net of tax |  |  |  |  | — |  |  | — |
Balance – end of period, net of tax |  |  |  |  | 13 |  |  | (92) |
Postretirement benefit liability adjustment |  |  |  |  |  |  |
Balance – beginning of period, net of tax |  |  |  |  | 297 |  |  | 225 |
Change in period, before tax |  |  |  |  | (2) |  |  | — |
Income tax (expense) benefit |  |  |  |  | 1 |  |  | (1) |
Total other comprehensive loss |  |  |  |  | (1) |  |  | (1) |
Noncontrolling interests, net of tax |  |  |  |  | — |  |  | — |
Balance – end of period, net of tax |  |  |  |  | 296 |  |  | 224 |
Accumulated other comprehensive loss |  |  |  |  | $ | (7,386) |  |  | $ | (8,895) |
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 |  | Consolidated Statement of Operations Location
|  |  | March 31 |
(in millions of U.S. dollars) |  |  |  |  | 2024 |  | 2023 |
Fixed maturities available-for-sale |  |  |  |  | $ | (119) |  |  | $ | (180) |  |  | Net realized gains (losses)
Income tax benefit |  |  |  |  | 12 |  |  | 18 |  |  | Income tax expense
|  |  |  |  | $ | (107) |  |  | $ | (162) |  |  | Net income
Cumulative foreign currency translation adjustment |  |  |  |  |  |  |  |  |
Cross-currency swaps |  |  |  |  | $ | 3 |  |  | $ | 3 |  |  | Interest expense
Income tax expense |  |  |  |  | (1) |  |  | (1) |  |  | Income tax expense
|  |  |  |  | $ | 2 |  |  | $ | 2 |  |  | Net income
Net gains (losses) of fair value hedging instruments |  |  |  |  |  |  |  |  |
Cross-currency swaps |  |  |  |  | $ | (37) |  |  | $ | 20 |  |  | Net realized gains (losses)
Cross-currency swaps |  |  |  |  | (4) |  |  | (4) |  |  | Interest expense
Income tax (expense) benefit |  |  |  |  | 9 |  |  | (3) |  |  | Income tax expense
|  |  |  |  | $ | (32) |  |  | $ | 13 |  |  | Net income
Total amounts reclassified from AOCI |  |  |  |  | $ | (137) |  |  | $ | (147) |  |  |

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