Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill roll-forward by business segment

The following table presents a roll-forward of Goodwill by segment:



(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			Chubb Consolidated
Balance at December 31, 2014	$	1,211		$	—	$	134	$	2,366		$	365	$	828		$	4,904
Purchase price allocation adjustment	—			—		—		(4		)	—		—			(4		)
Acquisition of Fireman's Fund	—			196		—		—			—		—			196
Foreign exchange revaluation and other	(8		)	—		—		(284		)	—		(8		)	(300		)
Balance at December 31, 2015	$	1,203		$	196	$	134	$	2,078		$	365	$	820		$	4,796
Acquisition of Chubb Corp	5,714			2,025		—		2,775			—		—			10,514
Foreign exchange revaluation and other	44			14		—		(36		)	—		—			22
Balance at December 31, 2016	$	6,961		$	2,235	$	134	$	4,817		$	365	$	820		$	15,332

Intangible assets acquired as part of Chubb Corp acquisition [Table Text Block]

The purchase price allocation to intangible assets recorded in connection with the Chubb Corp acquisition and their related useful lives are as follows:



(in millions of U.S. dollars)	Purchase price allocation		Estimated useful life
Definite life
Unearned premium reserves (UPR) intangible asset	$	1,550	1 year
Agency distribution relationships and renewal rights	3,150		24 years
Internally developed technology	95		3 years
Indefinite life
Trademarks	2,800		Indefinite
Licenses	50		Indefinite
Syndicate capacity	10		Indefinite
Total identified intangible assets	$	7,655

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]



	Associated with the Chubb Corp Acquisition
For the Years Ending December 31 (in millions of U.S. dollars)	Agency distribution relationships and renewal rights		Internally developed technology		Fair value adjustment to Unpaid losses and loss expense ⁽¹⁾			Total		Other intangible assets		Total Amortization of purchased intangibles
2017	$	295	$	32	$	(160	)	$	167	$	84	$	251
2018	323		32		(101		)	254		74		328
2019	280		—		(62		)	218		68		286
2020	239		—		(35		)	204		59		263
2021	217		—		(20		)	197		52		249
Total	$	1,354	$	64	$	(378	)	$	1,040	$	337	$	1,377

VOBA

The following table presents a roll-forward of VOBA:



(in millions of U.S. dollars)	2016			2015			2014
Balance, beginning of year	$	395		$	466		$	536
Amortization of VOBA ⁽¹⁾	(41		)	(42		)	(51		)
Foreign exchange revaluation	1			(29		)	(19		)
Balance, end of year	$	355		$	395		$	466


⁽¹⁾	Recognized in Policy acquisition costs in the Consolidated statements of operations.

The following table presents, as of December 31, 2016, the expected estimated pre-tax amortization expense related to VOBA for the next five years:



For the Year Ending December 31	VOBA
(in millions of U.S. dollars)	VOBA
2017	$	35
2018	31
2019	27
2020	23
2021	20
Total	$	136