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Segment information (Tables) | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Operations By Segment | The following tables present the Statement of Operations by segment:
For the Three Months Ended June 30, 2024 (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 | $ | 5,501 |  |  | $ | 1,776 |  |  | $ | 758 |  |  | $ | 3,334 |  |  | $ | 411 |  |  | $ | 1,580 |  |  | $ | — |  |  | $ | — |  |  | $ | 13,360 |
Net premiums earned | 4,900 |  |  | 1,512 |  |  | 626 |  |  | 3,347 |  |  | 339 |  |  | 1,568 |  |  | — |  |  | — |  |  | 12,292 |
Losses and loss expenses | 3,074 |  |  | 876 |  |  | 543 |  |  | 1,671 |  |  | 155 |  |  | 22 |  |  | 93 |  |  | (3) |  |  | 6,431 |
Policy benefits | — |  |  | — |  |  | — |  |  | 92 |  |  | — |  |  | 1,031 |  |  | — |  |  | 96 |  |  | 1,219 |
Policy acquisition costs | 660 |  |  | 299 |  |  | 45 |  |  | 842 |  |  | 80 |  |  | 300 |  |  | — |  |  | — |  |  | 2,226 |
Administrative expenses | 327 |  |  | 88 |  |  | 3 |  |  | 348 |  |  | 11 |  |  | 218 |  |  | 99 |  |  |  |  | 1,094 |
Underwriting income (loss) | 839 |  |  | 249 |  |  | 35 |  |  | 394 |  |  | 93 |  |  | (3) |  |  | (192) |  |  | (93) |  |  | 1,322 |
Net investment income | 863 |  |  | 108 |  |  | 21 |  |  | 283 |  |  | 58 |  |  | 258 |  |  | (32) |  |  | (91) |  |  | 1,468 |
Other (income) expense | 15 |  |  | (2) |  |  | — |  |  | 4 |  |  | — |  |  | (32) |  |  | 7 |  |  | (102) |  |  | (110) |
Amortization expense of purchased intangibles | — |  |  | 2 |  |  | 7 |  |  | 20 |  |  | — |  |  | 11 |  |  | 40 |  |  | — |  |  | 80 |
Segment income (loss) | $ | 1,687 |  |  | $ | 357 |  |  | $ | 49 |  |  | $ | 653 |  |  | $ | 151 |  |  | $ | 276 |  |  | $ | (271) |  |  | $ | (82) |  |  | $ | 2,820 |
Net realized gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | 22 |  |  | 82 |  |  | 104 |
Market risk benefits gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | (29) |  |  | — |  |  | (29) |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 182 |  |  | — |  |  | 182 |
Cigna integration expenses |  |  |  |  |  |  |  |  |  |  |  |  | 7 |  |  | — |  |  | 7 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 490 |  |  | — |  |  | 490 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  | $ | (957) |  |  | $ | — |  |  | $ | 2,216 |
Net loss attributable to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | (14) |  |  | — |  |  | (14) |
Net income (loss) attributable to Chubb |  |  |  |  |  |  |  |  |  |  |  |  | $ | (943) |  |  | $ | — |  |  | $ | 2,230 |
For the Three Months Ended June 30, 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 | $ | 5,155 |  |  | $ | 1,581 |  |  | $ | 767 |  |  | $ | 2,885 |  |  | $ | 293 |  |  | $ | 1,270 |  |  | $ | — |  |  | $ | — |  |  | $ | 11,951 |
Net premiums earned | 4,606 |  |  | 1,357 |  |  | 635 |  |  | 2,908 |  |  | 237 |  |  | 1,256 |  |  | — |  |  | — |  |  | 10,999 |
Losses and loss expenses | 2,871 |  |  | 846 |  |  | 507 |  |  | 1,267 |  |  | 91 |  |  | 35 |  |  | 61 |  |  | 5 |  |  | 5,683 |
Policy benefits | — |  |  | — |  |  | — |  |  | 137 |  |  | — |  |  | 705 |  |  | — |  |  | (12) |  |  | 830 |
Policy acquisition costs | 614 |  |  | 277 |  |  | 37 |  |  | 746 |  |  | 65 |  |  | 277 |  |  | — |  |  | — |  |  | 2,016 |
Administrative expenses | 316 |  |  | 84 |  |  | 3 |  |  | 292 |  |  | 9 |  |  | 170 |  |  | 95 |  |  | — |  |  | 969 |
Underwriting income (loss) | 805 |  |  | 150 |  |  | 88 |  |  | 466 |  |  | 72 |  |  | 69 |  |  | (156) |  |  | 7 |  |  | 1,501 |
Net investment income | 726 |  |  | 86 |  |  | 14 |  |  | 200 |  |  | 48 |  |  | 161 |  |  | 3 |  |  | (93) |  |  | 1,145 |
Other (income) expense | 5 |  |  | (1) |  |  | (1) |  |  | (10) |  |  | — |  |  | (26) |  |  | 14 |  |  | (81) |  |  | (100) |
Amortization expense of purchased intangibles | — |  |  | 3 |  |  | 7 |  |  | 15 |  |  | — |  |  | 2 |  |  | 43 |  |  | — |  |  | 70 |
Segment income | $ | 1,526 |  |  | $ | 234 |  |  | $ | 96 |  |  | $ | 661 |  |  | $ | 120 |  |  | $ | 254 |  |  | $ | (210) |  |  | $ | (5) |  |  | $ | 2,676 |
Net realized gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | (309) |  |  | 5 |  |  | (304) |
Market risk benefits gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | (7) |  |  | — |  |  | (7) |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 165 |  |  | — |  |  | 165 |
Cigna integration expenses |  |  |  |  |  |  |  |  |  |  |  |  | 15 |  |  | — |  |  | 15 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 392 |  |  | — |  |  | 392 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  | $ | (1,098) |  |  | $ | — |  |  | $ | 1,793 |
For the Six Months Ended June 30, 2024 (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 | $ | 10,190 |  |  | $ | 3,232 |  |  | $ | 1,007 |  |  | $ | 7,169 |  |  | $ | 770 |  |  | $ | 3,213 |  |  | $ | — |  |  | $ | — |  |  | $ | 25,581 |
Net premiums earned | 9,780 |  |  | 2,983 |  |  | 754 |  |  | 6,545 |  |  | 634 |  |  | 3,179 |  |  | — |  |  | — |  |  | 23,875 |
Losses and loss expenses | 6,249 |  |  | 1,775 |  |  | 592 |  |  | 3,097 |  |  | 292 |  |  | 54 |  |  | 103 |  |  | (4) |  |  | 12,158 |
Policy benefits | — |  |  | — |  |  | — |  |  | 192 |  |  | — |  |  | 2,101 |  |  | — |  |  | 106 |  |  | 2,399 |
Policy acquisition costs | 1,348 |  |  | 599 |  |  | 66 |  |  | 1,665 |  |  | 161 |  |  | 594 |  |  | — |  |  | — |  |  | 4,433 |
Administrative expenses | 655 |  |  | 174 |  |  | 5 |  |  | 679 |  |  | 20 |  |  | 425 |  |  | 206 |  |  | — |  |  | 2,164 |
Underwriting income (loss) | 1,528 |  |  | 435 |  |  | 91 |  |  | 912 |  |  | 161 |  |  | 5 |  |  | (309) |  |  | (102) |  |  | 2,721 |
Net investment income | 1,689 |  |  | 210 |  |  | 42 |  |  | 550 |  |  | 115 |  |  | 488 |  |  | (58) |  |  | (177) |  |  | 2,859 |
Other (income) expense | 22 |  |  | (1) |  |  | — |  |  | 9 |  |  | — |  |  | (72) |  |  | (61) |  |  | (198) |  |  | (301) |
Amortization expense of purchased intangibles | — |  |  | 4 |  |  | 13 |  |  | 40 |  |  | — |  |  | 21 |  |  | 82 |  |  | — |  |  | 160 |
Segment income (loss) | $ | 3,195 |  |  | $ | 642 |  |  | $ | 120 |  |  | $ | 1,413 |  |  | $ | 276 |  |  | $ | 544 |  |  | $ | (388) |  |  | $ | (81) |  |  | $ | 5,721 |
Net realized gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | (78) |  |  | 81 |  |  | 3 |
Market risk benefits gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | (8) |  |  | — |  |  | (8) |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 360 |  |  | — |  |  | 360 |
Cigna integration expenses |  |  |  |  |  |  |  |  |  |  |  |  | 14 |  |  | — |  |  | 14 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 832 |  |  | — |  |  | 832 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  | $ | (1,680) |  |  | $ | — |  |  | $ | 4,510 |
Net income attributable to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | 137 |  |  | — |  |  | 137 |
Net income (loss) attributable to Chubb |  |  |  |  |  |  |  |  |  |  |  |  | $ | (1,817) |  |  | $ | — |  |  | $ | 4,373 |
For the Six Months Ended June 30, 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 | $ | 9,443 |  |  | $ | 2,877 |  |  | $ | 1,060 |  |  | $ | 6,148 |  |  | $ | 570 |  |  | $ | 2,563 |  |  | $ | — |  |  | $ | — |  |  | $ | 22,661 |
Net premiums earned | 8,975 |  |  | 2,677 |  |  | 794 |  |  | 5,694 |  |  | 481 |  |  | 2,520 |  |  | — |  |  | — |  |  | 21,141 |
Losses and loss expenses | 5,600 |  |  | 1,734 |  |  | 647 |  |  | 2,504 |  |  | 203 |  |  | 67 |  |  | 72 |  |  | 4 |  |  | 10,831 |
Policy benefits | — |  |  | — |  |  | — |  |  | 247 |  |  | — |  |  | 1,417 |  |  | — |  |  | (37) |  |  | 1,627 |
Policy acquisition costs | 1,227 |  |  | 549 |  |  | 52 |  |  | 1,459 |  |  | 127 |  |  | 550 |  |  | — |  |  | — |  |  | 3,964 |
Administrative expenses | 611 |  |  | 163 |  |  | 6 |  |  | 572 |  |  | 18 |  |  | 337 |  |  | 192 |  |  | — |  |  | 1,899 |
Underwriting income (loss) | 1,537 |  |  | 231 |  |  | 89 |  |  | 912 |  |  | 133 |  |  | 149 |  |  | (264) |  |  | 33 |  |  | 2,820 |
Net investment income | 1,424 |  |  | 168 |  |  | 31 |  |  | 388 |  |  | 97 |  |  | 314 |  |  | 14 |  |  | (184) |  |  | 2,252 |
Other (income) expense | 12 |  |  | — |  |  | — |  |  | (19) |  |  | (1) |  |  | (41) |  |  | (200) |  |  | (147) |  |  | (396) |
Amortization expense of purchased intangibles | — |  |  | 5 |  |  | 13 |  |  | 33 |  |  | — |  |  | 6 |  |  | 85 |  |  | — |  |  | 142 |
Segment income (loss) | $ | 2,949 |  |  | $ | 394 |  |  | $ | 107 |  |  | $ | 1,286 |  |  | $ | 231 |  |  | $ | 498 |  |  | $ | (135) |  |  | $ | (4) |  |  | $ | 5,326 |
Net realized gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | (385) |  |  | 4 |  |  | (381) |
Market risk benefits gains (losses) |  |  |  |  |  |  |  |  |  |  |  |  | (122) |  |  | — |  |  | (122) |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 325 |  |  | — |  |  | 325 |
Cigna integration expenses |  |  |  |  |  |  |  |  |  |  |  |  | 37 |  |  | — |  |  | 37 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | 776 |  |  | — |  |  | 776 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  | $ | (1,780) |  |  | $ | — |  |  | $ | 3,685 |

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