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Shareholders' equity
 9 Months Ended
Sep. 30, 2025
Stockholders' Equity Note [Abstract]  
Shareholders' equity Shareholders’ equity
All of Chubb’s Common Shares are authorized under Swiss corporate law. Though the par value of Common Shares is stated in Swiss francs, Chubb continues to use U.S. dollars as its reporting currency for preparing the Consolidated Financial Statements. Under Swiss corporate law, dividends, including distributions from legal reserves or through a reduction in par value (par value reduction), must be stated in Swiss francs though dividend payments are made by Chubb in U.S. dollars. At September 30, 2025, our Common Shares had a par value of CHF 0.50 per share.

At our May 2025 annual general meeting, our shareholders approved an annual dividend for the following year of up to $3.88 per share, expected to be paid in four quarterly installments of $0.97 per share after the general meeting by way of distribution from capital contribution reserves, transferred to free reserves for payment. The Board of Directors (Board) will determine the record and payment dates at which the annual dividend may be paid until the date of 2026 annual general meeting, and is authorized to abstain from distributing a dividend at its discretion.

At our May 2024 and 2023 annual general meetings, our shareholders approved annual dividends for the following year of up to $3.64 per share and $3.44 per share, respectively, which were paid in four quarterly installments of $0.91 and $0.86 per share, respectively, at dates determined by the Board after the annual general meetings by way of a distribution from capital contribution reserves, transferred to free reserves for payment.
The following table presents dividend distributions per Common Share in Swiss francs (CHF) and U.S. dollars (USD):

Three Months EndedNine Months Ended
September 30September 30
2025202420252024
CHFUSDCHFUSDCHFUSDCHFUSD
Total dividend distributions per common share0.78 $0.97 0.78 $0.91 2.40 $2.85 2.35 $2.68 
Increases in Common Shares in treasury are due to open market repurchases of Common Shares and the surrender of Common Shares to satisfy tax withholding obligations in connection with the vesting of restricted stock and the forfeiture of unvested restricted stock. Decreases in Common Shares in treasury are principally due to grants of restricted stock, exercises of stock options, purchases under the Employee Stock Purchase Plan (ESPP), and share cancellations. At our May 2024 annual general meeting, held on May 16, 2024, our shareholders approved the cancellation of 11,825,600 shares purchased under our share repurchase programs during 2023. The capital reduction was subject to publication requirements and became effective in accordance with Swiss law on May 21, 2024. On March 7, 2025, Chubb completed a share capital reduction by means of cancellation of 7,518,565 Common Shares purchased under our share repurchase program during 2024. The capital reduction was completed in accordance with the capital band provision for authorized share capital increases and reductions by the Board set forth in the Articles of Association. During the nine months ended September 30, 2025, 8,121,824 shares were repurchased, 7,518,565 shares were canceled, and 1,742,599 net shares were issued under employee share-based compensation plans. At September 30, 2025, 17,782,983 Common Shares remain in treasury.

Chubb Limited securities repurchase authorizations
In June 2023, the Board authorized the repurchase of up to $5.0 billion of Chubb Common Shares, effective July 1, 2023, with no expiration date. In May 2025, the Board determined to terminate the June 2023 authorization as of June 30, 2025 and concurrently authorized a new repurchase amount of up to $5.0 billion of Chubb Common Shares, effective July 1, 2025, with no expiration date. The following table presents repurchases of Chubb's Common Shares conducted in a series of open market transactions under the Board authorizations:

Three Months EndedNine Months EndedOctober 1, 2025
through
October 24, 2025
September 30September 30
(in millions of U.S. dollars, except share data)2025202420252024
Number of shares repurchased4,436,315 1,441,607 8,121,824 4,915,964 1,000,000 
Cost of shares repurchased$1,232 $413 $2,293 $1,299 $282 
Repurchase authorization remaining at end of period$3,783 $2,400 $3,783 $2,400 $3,502 

The following table presents changes in accumulated other comprehensive income (loss):

Three Months EndedNine Months Ended
September 30September 30
(in millions of U.S. dollars)2025202420252024
Accumulated other comprehensive income (loss) (AOCI)
Net unrealized appreciation (depreciation) on investments
Balance – beginning of period, net of tax$(2,772)$(5,301)$(4,552)$(4,177)
Change in period, before reclassification from AOCI (before tax)837 3,419 2,598 2,139 
Amounts reclassified from AOCI (before tax)31 40 157 154 
Change in period, before tax868 3,459 2,755 2,293 
Income tax expense(52)(198)(163)(149)
Total other comprehensive income 816 3,261 2,592 2,144 
Noncontrolling interests, net of tax(16)2 (20)9 
Balance – end of period, net of tax(1,940)(2,042)(1,940)(2,042)
Three Months EndedNine Months Ended
September 30September 30
(in millions of U.S. dollars)2025202420252024
Accumulated other comprehensive income (loss) (AOCI) - continued
Current discount rate on liability for future policy benefits
Balance – beginning of period, net of tax(746)66 (539)51 
Change in period, before tax305 (672)53 (672)
Income tax benefit26 36 47 14 
Total other comprehensive income (loss)331 (636)100 (658)
Noncontrolling interests, net of tax47 (43)23 (80)
Balance – end of period, net of tax(462)(527)(462)(527)
Instrument-specific credit risk on market risk benefits
Balance – beginning of period, net of tax(12)(13)(16)(22)
Change in period, before tax(9)(8)(4)2 
Income tax benefit2 1 1 — 
Total other comprehensive income (loss)(7)(7)(3)2 
Noncontrolling interests, net of tax— — — — 
Balance – end of period, net of tax(19)(20)(19)(20)
Cumulative foreign currency translation adjustment
Balance – beginning of period, net of tax(2,919)(3,342)(4,025)(2,945)
Change in period, before reclassification from AOCI (before tax)136 450 1,306 6 
Amounts reclassified from AOCI (before tax)(8)(5)(23)(11)
Change in period, before tax 128 445 1,283 (5)
Income tax (expense) benefit(17)7 (26)19 
Total other comprehensive income111 452 1,257 14 
Noncontrolling interests, net of tax49 62 89 21 
Balance – end of period, net of tax(2,857)(2,952)(2,857)(2,952)
Fair value hedging instruments
Balance – beginning of period, net of tax(40)(11)50 (13)
Change in period, before reclassification from AOCI (before tax)(17)42 98 (12)
Amounts reclassified from AOCI (before tax)14 (60)(215)(3)
Change in period, before tax(3)(18)(117)(15)
Income tax benefit— 4 24 3 
Total other comprehensive loss(3)(14)(93)(12)
Noncontrolling interests, net of tax— — — — 
Balance – end of period, net of tax(43)(25)(43)(25)
Postretirement benefit liability adjustment
Balance – beginning of period, net of tax431 297 438 297 
Change in period, before tax(3)(1)(10)(2)
Income tax benefit1 — 1 1 
Total other comprehensive loss(2)(1)(9)(1)
Noncontrolling interests, net of tax— — — — 
Balance – end of period, net of tax429 296 429 296 
Accumulated other comprehensive loss$(4,892)$(5,270)$(4,892)$(5,270)
The following table presents reclassifications from accumulated other comprehensive income (loss) to the Consolidated statements of operations:
Three Months EndedNine Months EndedConsolidated Statement of Operations Location
September 30September 30
(in millions of U.S. dollars)2025202420252024
Fixed maturities available-for-sale$(31)$(40)$(157)$(154)Net realized gains (losses)
Income tax (expense) benefit(11)17 17 41 Income tax expense
$(42)$(23)$(140)$(113)Net income
Cumulative foreign currency translation adjustment
Cross-currency swaps$8 $5 $23 $11 Interest expense
Income tax expense(2)(1)(5)(2)Income tax expense
$6 $4 $18 $9 Net income
Net gains (losses) of fair value hedging instruments
Cross-currency swaps$(9)$63 $229 $14 Net realized gains (losses)
Cross-currency swaps(5)(3)(14)(11)Interest expense
Income tax (expense) benefit3 (12)(45)— Income tax expense
$(11)$48 $170 $3 Net income
Total amounts reclassified from AOCI$(47)$29 $48 $(101)