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Shareholders' Equity (Tables) | 9 Months Ended
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Sep. 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 |  | Nine Months Ended
| September 30 |  | September 30
| 2024 |  | 2023 |  | 2024 |  | 2023
CHF |  | USD |  | CHF |  | USD |  | CHF |  | USD |  | CHF |  | USD
Total dividend distributions per common share | 0.78 |  |  | $ | 0.91 |  |  | 0.75 |  |  | $ | 0.86 |  |  | 2.35 |  |  | $ | 2.68 |  |  | 2.29 |  |  | $ | 2.55 |
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 |  | Nine Months Ended |  |
| September 30 |  | September 30 |
(in millions of U.S. dollars, except share data) | 2024 |  | 2023 |  | 2024 |  | 2023 |
Number of shares repurchased | 1,441,607 |  |  | 2,949,900 |  |  | 4,915,964 |  |  | 8,634,600 |  |  |
Cost of shares repurchased | $ | 413 |  |  | $ | 606 |  |  | $ | 1,299 |  |  | $ | 1,758 |  |  |
Repurchase authorization remaining at end of period | $ | 2,400 |  |  | $ | 4,398 |  |  | $ | 2,400 |  |  | $ | 4,398 |  |  |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table presents changes in accumulated other comprehensive income (loss):
| Three Months Ended |  | Nine Months Ended
| September 30 |  | September 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 | $ | (5,301) |  |  | $ | (6,809) |  |  | $ | (4,177) |  |  | $ | (7,279) |
Change in period, before reclassification from AOCI (before tax) | 3,419 |  |  | (2,240) |  |  | 2,139 |  |  | (1,935) |
Amounts reclassified from AOCI (before tax) | 40 |  |  | 70 |  |  | 154 |  |  | 357 |
Change in period, before tax | 3,459 |  |  | (2,170) |  |  | 2,293 |  |  | (1,578) |
Income tax (expense) benefit | (198) |  |  | 29 |  |  | (149) |  |  | (93) |
Total other comprehensive income (loss) | 3,261 |  |  | (2,141) |  |  | 2,144 |  |  | (1,671) |
Noncontrolling interests, net of tax | 2 |  |  | 3 |  |  | 9 |  |  | 3 |
Balance – end of period, net of tax | (2,042) |  |  | (8,953) |  |  | (2,042) |  |  | (8,953) |
Current discount rate on liability for future policy benefits |  |  |  |  |  |  |
Balance – beginning of period, net of tax | 66 |  |  | (247) |  |  | 51 |  |  | (75) |
Change in period, before tax | (672) |  |  | 683 |  |  | (672) |  |  | 497 |
Income tax (expense) benefit | 36 |  |  | (35) |  |  | 14 |  |  | (21) |
Total other comprehensive income (loss) | (636) |  |  | 648 |  |  | (658) |  |  | 476 |
Noncontrolling interests, net of tax | (43) |  |  | (3) |  |  | (80) |  |  | (3) |
Balance – end of period, net of tax | (527) |  |  | 404 |  |  | (527) |  |  | 404 |
Instrument-specific credit risk on market risk benefits |  |  |  |  |  |  |
Balance – beginning of period, net of tax | (13) |  |  | (16) |  |  | (22) |  |  | (24) |
Change in period, before tax | (8) |  |  | (5) |  |  | 2 |  |  | 3 |
Income tax benefit | 1 |  |  | — |  |  | — |  |  | — |
Total other comprehensive income (loss) | (7) |  |  | (5) |  |  | 2 |  |  | 3 |
Noncontrolling interests, net of tax | — |  |  | — |  |  | — |  |  | — |
Balance – end of period, net of tax | (20) |  |  | (21) |  |  | (20) |  |  | (21) |
| Three Months Ended |  | Nine Months Ended
| September 30 |  | September 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 | (3,342) |  |  | (2,920) |  |  | (2,945) |  |  | (2,966) |
Change in period, before reclassification from AOCI (before tax) | 450 |  |  | (314) |  |  | 6 |  |  | (269) |
Amounts reclassified from AOCI (before tax) | (5) |  |  | (3) |  |  | (11) |  |  | (10) |
Change in period, before tax | 445 |  |  | (317) |  |  | (5) |  |  | (279) |
Income tax benefit | 7 |  |  | 13 |  |  | 19 |  |  | 21 |
Total other comprehensive income (loss) | 452 |  |  | (304) |  |  | 14 |  |  | (258) |
Noncontrolling interests, net of tax | 62 |  |  | (76) |  |  | 21 |  |  | (76) |
Balance – end of period, net of tax | (2,952) |  |  | (3,148) |  |  | (2,952) |  |  | (3,148) |
Fair value hedging instruments |  |  |  |  |  |  |
Balance – beginning of period, net of tax | (11) |  |  | (53) |  |  | (13) |  |  | (66) |
Change in period, before reclassification from AOCI (before tax) | 42 |  |  | (17) |  |  | (12) |  |  | 23 |
Amounts reclassified from AOCI (before tax) | (60) |  |  | 55 |  |  | (3) |  |  | 32 |
Change in period, before tax | (18) |  |  | 38 |  |  | (15) |  |  | 55 |
Income tax (expense) benefit | 4 |  |  | (7) |  |  | 3 |  |  | (11) |
Total other comprehensive income (loss) | (14) |  |  | 31 |  |  | (12) |  |  | 44 |
Noncontrolling interests, net of tax | — |  |  | — |  |  | — |  |  | — |
Balance – end of period, net of tax | (25) |  |  | (22) |  |  | (25) |  |  | (22) |
Postretirement benefit liability adjustment |  |  |  |  |  |  |
Balance – beginning of period, net of tax | 297 |  |  | 223 |  |  | 297 |  |  | 225 |
Change in period, before tax | (1) |  |  | (1) |  |  | (2) |  |  | (3) |
Income tax benefit | — |  |  | — |  |  | 1 |  |  | — |
Total other comprehensive loss | (1) |  |  | (1) |  |  | (1) |  |  | (3) |
Noncontrolling interests, net of tax | — |  |  | — |  |  | — |  |  | — |
Balance – end of period, net of tax | 296 |  |  | 222 |  |  | 296 |  |  | 222 |
Accumulated other comprehensive loss | $ | (5,270) |  |  | $ | (11,518) |  |  | $ | (5,270) |  |  | $ | (11,518) |
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 |  | Nine Months Ended |  | Consolidated Statement of Operations Location
| September 30 |  | September 30 |
(in millions of U.S. dollars) | 2024 |  | 2023 |  | 2024 |  | 2023 |
Fixed maturities available-for-sale | $ | (40) |  |  | $ | (70) |  |  | $ | (154) |  |  | $ | (357) |  |  | Net realized gains (losses)
Income tax benefit | 17 |  |  | 25 |  |  | 41 |  |  | 59 |  |  | Income tax expense
| $ | (23) |  |  | $ | (45) |  |  | $ | (113) |  |  | $ | (298) |  |  | Net income
Cumulative foreign currency translation adjustment |  |  |  |  |  |  |  |  |
Cross-currency swaps | $ | 5 |  |  | $ | 3 |  |  | $ | 11 |  |  | $ | 10 |  |  | Interest expense
Income tax expense | (1) |  |  | (1) |  |  | (2) |  |  | (2) |  |  | Income tax expense
| $ | 4 |  |  | $ | 2 |  |  | $ | 9 |  |  | $ | 8 |  |  | Net income
Net gains (losses) of fair value hedging instruments |  |  |  |  |  |  |  |  |
Cross-currency swaps | $ | 63 |  |  | $ | (51) |  |  | $ | 14 |  |  | $ | (20) |  |  | Net realized gains (losses)
Cross-currency swaps | (3) |  |  | (4) |  |  | (11) |  |  | (12) |  |  | Interest expense
Income tax (expense) benefit | (12) |  |  | 12 |  |  | — |  |  | 7 |  |  | Income tax expense
| $ | 48 |  |  | $ | (43) |  |  | $ | 3 |  |  | $ | (25) |  |  | Net income
Total amounts reclassified from AOCI | $ | 29 |  |  | $ | (86) |  |  | $ | (101) |  |  | $ | (315) |  |  |

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