Segment information (Tables)

6 Months Ended

Jun. 30, 2024

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