Acquisitions Acquisitions (Tables)

12 Months Ended

Dec. 31, 2017

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [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 at January 14, 2016		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 Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]




(in millions of U.S. dollars, except per share data)
Purchase consideration
Chubb Limited common shares
Chubb Corp common shares outstanding	228
Per share exchange ratio	0.6019
Common shares issued by Chubb Limited	137
Common share price of Chubb Limited at January 14, 2016	$	111.02
Fair value of common shares issued by Chubb Limited to common shareholders of Chubb Corp	$	15,204
Cash consideration
Chubb Corp common shares outstanding	228
Agreed cash price per share paid to common shareholders of Chubb Corp	$	62.93
Cash consideration paid by Chubb Limited to common shareholders of Chubb Corp	$	14,319
Stock-based awards
Fair value of equity awards issued ⁽¹⁾	$	323
Fair value of purchase consideration	$	29,846
Assets acquired and (liabilities) assumed
Cash	$	71
Investments	42,967
Accrued investment income	359
Insurance and reinsurance balances receivable	3,095
Reinsurance recoverable on losses and loss expenses	1,676
Indefinite lived intangible assets	2,860
Finite lived intangible assets	4,795
Prepaid reinsurance premiums	280
Other assets	853
Unpaid losses and loss expenses	(22,923		)
Unearned premiums	(7,011		)
Insurance and reinsurance balances payable	(603		)
Accounts payable, accrued expenses, and other liabilities	(2,030		)
Deferred tax liabilities	(1,292		)
Long-term debt	(3,765		)
Total identifiable net assets acquired	19,332
Goodwill	10,514
Purchase price	$	29,846

⁽¹⁾The fair value of the replacement equity awards was $525 million, of which $323 million was attributed to service periods prior to the acquisition and was included in the purchase consideration. Refer to Note 12 for further information on these replacement equity awards.

Results of Operations From Date of Business Combination [Table Text Block]

The following table summarizes the results of the acquired Chubb Corp operations since the acquisition date that have been included within our Consolidated statement of operations:



(in millions of U.S. dollars)	January 14, 2016 to December 31, 2016
Total revenues	$	12,376
Net income	$	1,756

Business Acquisition, Pro Forma Information [Table Text Block]



	Year Ended December 31
(in millions of U.S. dollars, except per share data)	2016		2015
Total revenues	$	31,937	$	32,622
Net income	$	4,183	$	4,478
Earnings per share
Basic earnings per share	$	8.95	$	9.61
Diluted earnings per share	$	8.88	$	9.52