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Market risk benefits (Tables) | 6 Months Ended
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Jun. 30, 2025
Market Risk Benefit [Abstract] |
Market Risk Benefit, Activity | The following table presents a roll-forward of MRB:
| Six Months Ended June 30
(in millions of U.S. dollars) | 2025 |  | 2024
Balance – beginning of period | $ | 607 |  |  | $ | 771 |
Balance, beginning of period, before effect of changes in the instrument-specific credit risk | 592 |  |  | 749 |
Interest rate changes | 41 |  |  | (87) |
Effect of market movements (1) | (50) |  |  | (83) |
Effect of changes in volatilities | 19 |  |  | (13) |
Actual policyholder behavior different from expected behavior | 28 |  |  | 31 |
Effect of timing and all other | (31) |  |  | (33) |
Balance, end of period, before effect of changes in the instrument-specific credit risk | $ | 599 |  |  | $ | 564 |
Effect of changes in the instrument-specific credit risk | 10 |  |  | 12 |
Balance – end of period | $ | 609 |  |  | $ | 576 |
Weighted-average age of policyholders (years) | 74 |  | 74
Net amount at risk (2) | $ | 1,479 |  |  | $ | 1,630 |
(1) Market movements are predominantly driven by changes in equities. (2) The net amount at risk is defined as the present value of future claim payments assuming policy account values and guaranteed values are fixed at the valuation date, and reinsurance coverage ends at the earlier of the maturity of the underlying variable annuity policy or the reinsurance treaty. No withdrawals, lapses, and mortality improvements are assumed in the projection. GLB-related risks contain conservative mortality and annuitization assumptions.
Schedule Of Significant Unobservable Inputs Used In Level 3 Liability Valuations | For MRB, Chubb estimates fair value using an internal valuation model which includes a number of factors including interest rates, equity markets, credit risk, current account value, market volatility, expected annuitization rates and other policyholder behavior, and changes in policyholder mortality. All reinsurance treaties contain claim limits, which are also factored into the valuation model.
|  |  | Valuation Technique |  | Significant Unobservable Inputs |  | June 30, 2025 |  | June 30, 2024
|  |  | Ranges |  | Weighted Average(1) |  | Ranges |  | Weighted Average(1)
MRB (1) |  |  | Actuarial model |  | Lapse rate |  | 0.5% – 27.3% |  | 3.4 | % |  | 0.5% – 30.0% |  | 4.3 | %
|  |  |  |  | Annuitization rate |  | 0% – 100% |  | 4.6 | % |  | 0% – 100% |  | 4.3 | %
(1)The weighted-average lapse and annuitization rates are determined by weighting each treaty's rates by the MRB contract's fair value.

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 103 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-103 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of beginning balance to ending balance for contract or contract feature in long-duration contract issued by insurance entity that both protects contract holder from other-than-nominal capital market risk and exposes insurance entity to other-than-nominal capital market risk. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 55 -Paragraph 29G -Publisher FASB -URI https://asc.fasb.org/1943274/2147480046/944-40-55-29G Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 7B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-7B + Details
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