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Shareholders' Equity (Tables) | 6 Months Ended
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Jun. 30, 2024
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
| 2024 |  | 2023 |  | 2024 |  | 2023
CHF |  | USD |  | CHF |  | USD |  | CHF |  | USD |  | CHF |  | USD
Total dividend distributions per common share | 0.82 |  |  | $ | 0.91 |  |  | 0.77 |  |  | $ | 0.86 |  |  | 1.57 |  |  | $ | 1.77 |  |  | 1.54 |  |  | $ | 1.69 |
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 |  | July 1, 2024 through July 25, 2024
| June 30 |  | June 30 |
(in millions of U.S. dollars, except share data) | 2024 |  | 2023 |  | 2024 |  | 2023 |
Number of shares repurchased | 2,254,236 |  |  | 3,674,300 |  |  | 3,474,357 |  |  | 5,684,700 |  |  | 175,465 |
Cost of shares repurchased | $ | 570 |  |  | $ | 724 |  |  | $ | 886 |  |  | $ | 1,152 |  |  | $ | 45 |
Repurchase authorization remaining at end of period | $ | 2,808 |  |  | $ | — |  |  | $ | 2,808 |  |  | $ | — |  |  | $ | 2,764 |
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
(in millions of U.S. dollars) | 2024 |  | 2023 |  | 2024 |  | 2023
Accumulated other comprehensive income (loss) (AOCI) |  |  |  |  |  |  |
Net unrealized appreciation (depreciation) on investments |  |  |  |  |  |  |
Balance – beginning of period, net of tax | $ | (4,825) |  |  | $ | (5,659) |  |  | $ | (4,177) |  |  | $ | (7,279) |
Change in period, before reclassification from AOCI (before tax) | (484) |  |  | (1,301) |  |  | (1,280) |  |  | 305 |
Amounts reclassified from AOCI (before tax) | (5) |  |  | 107 |  |  | 114 |  |  | 287 |
Change in period, before tax | (489) |  |  | (1,194) |  |  | (1,166) |  |  | 592 |
Income tax (expense) benefit | 7 |  |  | 44 |  |  | 49 |  |  | (122) |
Total other comprehensive income (loss) | (482) |  |  | (1,150) |  |  | (1,117) |  |  | 470 |
Noncontrolling interests, net of tax | (6) |  |  | — |  |  | 7 |  |  | — |
Balance – end of period, net of tax | (5,301) |  |  | (6,809) |  |  | (5,301) |  |  | (6,809) |
Current discount rate on liability for future policy benefits |  |  |  |  |  |  |
Balance – beginning of period, net of tax | 11 |  |  | (205) |  |  | 51 |  |  | (75) |
Change in period, before tax | 53 |  |  | (35) |  |  | — |  |  | (186) |
Income tax (expense) benefit | (2) |  |  | (7) |  |  | (22) |  |  | 14 |
Total other comprehensive income (loss) | 51 |  |  | (42) |  |  | (22) |  |  | (172) |
Noncontrolling interests, net of tax | (4) |  |  | — |  |  | (37) |  |  | — |
Balance – end of period, net of tax | 66 |  |  | (247) |  |  | 66 |  |  | (247) |
Instrument-specific credit risk on market risk benefits |  |  |  |  |  |  |
Balance – beginning of period, net of tax | (17) |  |  | (27) |  |  | (22) |  |  | (24) |
Change in period, before tax | 5 |  |  | 11 |  |  | 10 |  |  | 8 |
Income tax expense | (1) |  |  | — |  |  | (1) |  |  | — |
Total other comprehensive income | 4 |  |  | 11 |  |  | 9 |  |  | 8 |
Noncontrolling interests, net of tax | — |  |  | — |  |  | — |  |  | — |
Balance – end of period, net of tax | (13) |  |  | (16) |  |  | (13) |  |  | (16) |
| Three Months Ended |  | Six Months Ended
| June 30 |  | June 30
(in millions of U.S. dollars) | 2024 |  | 2023 |  | 2024 |  | 2023
Accumulated other comprehensive income (loss) (AOCI) - continued |  |  |  |  |  |  |
Cumulative foreign currency translation adjustment |  |  |  |  |  |  |
Balance – beginning of period, net of tax | (2,864) |  |  | (3,136) |  |  | (2,945) |  |  | (2,966) |
Change in period, before reclassification from AOCI (before tax) | (527) |  |  | 219 |  |  | (444) |  |  | 45 |
Amounts reclassified from AOCI (before tax) | (3) |  |  | (4) |  |  | (6) |  |  | (7) |
Change in period, before tax | (530) |  |  | 215 |  |  | (450) |  |  | 38 |
Income tax benefit | 19 |  |  | 1 |  |  | 12 |  |  | 8 |
Total other comprehensive income (loss) | (511) |  |  | 216 |  |  | (438) |  |  | 46 |
Noncontrolling interests, net of tax | (33) |  |  | — |  |  | (41) |  |  | — |
Balance – end of period, net of tax | (3,342) |  |  | (2,920) |  |  | (3,342) |  |  | (2,920) |
Fair value hedging instruments |  |  |  |  |  |  |
Balance – beginning of period, net of tax | 13 |  |  | (92) |  |  | (13) |  |  | (66) |
Change in period, before reclassification from AOCI (before tax) | (46) |  |  | 57 |  |  | (54) |  |  | 40 |
Amounts reclassified from AOCI (before tax) | 16 |  |  | (7) |  |  | 57 |  |  | (23) |
Change in period, before tax | (30) |  |  | 50 |  |  | 3 |  |  | 17 |
Income tax (expense) benefit | 6 |  |  | (11) |  |  | (1) |  |  | (4) |
Total other comprehensive income (loss) | (24) |  |  | 39 |  |  | 2 |  |  | 13 |
Noncontrolling interests, net of tax | — |  |  | — |  |  | — |  |  | — |
Balance – end of period, net of tax | (11) |  |  | (53) |  |  | (11) |  |  | (53) |
Postretirement benefit liability adjustment |  |  |  |  |  |  |
Balance – beginning of period, net of tax | 296 |  |  | 224 |  |  | 297 |  |  | 225 |
Change in period, before tax | 1 |  |  | (2) |  |  | (1) |  |  | (2) |
Income tax benefit | — |  |  | 1 |  |  | 1 |  |  | — |
Total other comprehensive income (loss) | 1 |  |  | (1) |  |  | — |  |  | (2) |
Noncontrolling interests, net of tax | — |  |  | — |  |  | — |  |  | — |
Balance – end of period, net of tax | 297 |  |  | 223 |  |  | 297 |  |  | 223 |
Accumulated other comprehensive loss | $ | (8,304) |  |  | $ | (9,822) |  |  | $ | (8,304) |  |  | $ | (9,822) |
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) | 2024 |  | 2023 |  | 2024 |  | 2023 |
Fixed maturities available-for-sale | $ | 5 |  |  | $ | (107) |  |  | $ | (114) |  |  | $ | (287) |  |  | Net realized gains (losses)
Income tax benefit | 12 |  |  | 16 |  |  | 24 |  |  | 34 |  |  | Income tax expense
| $ | 17 |  |  | $ | (91) |  |  | $ | (90) |  |  | $ | (253) |  |  | Net income
Cumulative foreign currency translation adjustment |  |  |  |  |  |  |  |  |
Cross-currency swaps | $ | 3 |  |  | $ | 4 |  |  | $ | 6 |  |  | $ | 7 |  |  | Interest expense
Income tax expense | — |  |  | — |  |  | (1) |  |  | (1) |  |  | Income tax expense
| $ | 3 |  |  | $ | 4 |  |  | $ | 5 |  |  | $ | 6 |  |  | Net income
Net gains (losses) of fair value hedging instruments |  |  |  |  |  |  |  |  |
Cross-currency swaps | $ | (12) |  |  | $ | 11 |  |  | $ | (49) |  |  | $ | 31 |  |  | Net realized gains (losses)
Cross-currency swaps | (4) |  |  | (4) |  |  | (8) |  |  | (8) |  |  | Interest expense
Income tax (expense) benefit | 3 |  |  | (2) |  |  | 12 |  |  | (5) |  |  | Income tax expense
| $ | (13) |  |  | $ | 5 |  |  | $ | (45) |  |  | $ | 18 |  |  | Net income
Total amounts reclassified from AOCI | $ | 7 |  |  | $ | (82) |  |  | $ | (130) |  |  | $ | (229) |  |  |

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