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Segment information (Tables)
6 Months Ended
Jun. 30, 2018
Segment Reporting [Abstract]  
Operations By Segment
The following tables present the Statement of Operations by segment:
 
North America Commercial P&C Insurance

 
North America Personal P&C Insurance

 
North America Agricultural Insurance

 
Overseas General Insurance

 
Global
Reinsurance

 
Life Insurance

 
Corporate

 
Chubb
Consolidated

For the Three Months Ended
 
 
 
 
 
 
June 30, 2018
 
 
 
 
 
 
(in millions of U.S. dollars)
 
 
 
 
 
 
Net premiums written
$
3,331

 
$
1,335

 
$
388

 
$
2,199

 
$
197

 
$
565

 
$

 
$
8,015

Net premiums earned
3,277

 
1,156

 
351

 
2,161

 
167

 
552

 

 
7,664

Losses and loss expenses
2,084

 
728

 
289

 
1,071

 
83

 
184

 
48

 
4,487

Policy benefits

 

 

 

 

 
150

 

 
150

Policy acquisition costs
448

 
228

 
26

 
584

 
40

 
138

 

 
1,464

Administrative expenses
253

 
68

 
1

 
266

 
9

 
80

 
70

 
747

Underwriting income (loss)
492

 
132

 
35

 
240

 
35

 

 
(118
)
 
816

Net investment income (loss)
510

 
59

 
6

 
155

 
65

 
85

 
(52
)
 
828

Other (income) expense
(13
)
 
1

 
1

 
(12
)
 
(6
)
 
8

 
(94
)
 
(115
)
Amortization expense of purchased intangibles

 
3

 
7

 
11

 

 

 
64

 
85

Segment income (loss)
$
1,015


$
187


$
33


$
396


$
106


$
77


$
(140
)

$
1,674

Net realized gains (losses) including OTTI
 
 
 
 
 
 
 
 
 
 
 
 
18

 
18

Interest expense
 
 
 
 
 
 
 
 
 
 
 
 
167

 
167

Chubb integration expenses
 
 
 
 
 
 
 
 
 
 
 
 
13

 
13

Income tax expense
 
 
 
 
 
 
 
 
 
 
 
 
218

 
218

Net income (loss)
 
 
 
 
 
 
 
 
 
 
 
 
$
(520
)
 
$
1,294

 
North America Commercial P&C Insurance (1)

 
North America Personal P&C Insurance

 
North America Agricultural Insurance

 
Overseas General Insurance (1)

 
Global
Reinsurance

 
Life Insurance

 
Corporate

 
Chubb
Consolidated

For the Three Months Ended
 
 
 
 
 
 
June 30, 2017
 
 
 
 
 
 
(in millions of U.S. dollars)
 
 
 
 
 
 
Net premiums written
$
3,203

 
$
1,255

 
$
403

 
$
2,007

 
$
190

 
$
523

 
$

 
$
7,581

Net premiums earned
3,099

 
1,093

 
344

 
2,018

 
168

 
515

 

 
7,237

Losses and loss expenses
1,936

 
683

 
290

 
964

 
46

 
182

 
45

 
4,146

Policy benefits

 

 

 

 

 
163

 

 
163

Policy acquisition costs
464

 
230

 
27

 
555

 
43

 
130

 

 
1,449

Administrative expenses
241

 
66

 
2

 
243

 
12

 
77

 
65

 
706

Underwriting income (loss)
458

 
114

 
25

 
256

 
67

 
(37
)
 
(110
)
 
773

Net investment income (loss)
490

 
56

 
6

 
148

 
65

 
77

 
(72
)
 
770

Other (income) expense
(4
)
 
1

 
1

 
(3
)
 
1

 
(12
)
 
(129
)
 
(145
)
Amortization expense of purchased intangibles

 
5

 
7

 
11

 

 

 
42

 
65

Segment income (loss)
$
952

 
$
164

 
$
23

 
$
396

 
$
131

 
$
52

 
$
(95
)
 
$
1,623

Net realized gains (losses) including OTTI
 
 
 
 
 
 
 
 
 
 
 
 
101

 
101

Interest expense
 
 
 
 
 
 
 
 
 
 
 
 
147

 
147

Chubb integration expenses
 
 
 
 
 
 
 
 
 
 
 
 
72

 
72

Income tax expense
 
 
 
 
 
 
 
 
 
 
 
 
200

 
200

Net income (loss)
 
 
 
 
 
 
 
 
 
 
 
 
$
(413
)
 
$
1,305

(1) 
The 2017 net premiums written amount was revised to reflect the transfer of certain multinational accounts ($1 million) from the North America Commercial P&C Insurance segment to the Overseas General Insurance segment to better align the reporting with the management of these businesses in 2018. There is no impact on a consolidated basis.
 
North America Commercial P&C Insurance

 
North America Personal P&C Insurance

 
North America Agricultural Insurance

 
Overseas General Insurance

 
Global
Reinsurance

 
Life Insurance

 
Corporate

 
Chubb
Consolidated

For the Six Months Ended
 
 
 
 
 
June 30, 2018
 
 
 
 
 
(in millions of U.S. dollars)
 
 
 
 
 
Net premiums written
$
6,143

 
$
2,383

 
$
496

 
$
4,583

 
$
390

 
$
1,124

 
$

 
$
15,119

Net premiums earned
6,306

 
2,296

 
394

 
4,268

 
335

 
1,092

 

 
14,691

Losses and loss expenses
3,992

 
1,614

 
236

 
2,149

 
150

 
389

 
59

 
8,589

Policy benefits

 

 

 

 

 
301

 

 
301

Policy acquisition costs
920

 
465

 
25

 
1,172

 
80

 
266

 

 
2,928

Administrative expenses
484

 
133

 
(2
)
 
505

 
19

 
158

 
142

 
1,439

Underwriting income (loss)
910

 
84

 
135

 
442

 
86

 
(22
)
 
(201
)
 
1,434

Net investment income (loss)
1,013

 
118

 
13

 
306

 
129

 
168

 
(113
)
 
1,634

Other (income) expense
(19
)
 
1

 
1

 
(5
)
 
(13
)
 
4

 
(131
)
 
(162
)
Amortization expense of purchased intangibles

 
6

 
14

 
21

 

 
1

 
128

 
170

Segment income (loss)
$
1,942

 
$
195

 
$
133

 
$
732

 
$
228

 
$
141

 
$
(311
)
 
$
3,060

Net realized gains (losses) including OTTI
 
 
 
 
 
 
 
 
 
 
 
 
16

 
16

Interest expense
 
 
 
 
 
 
 
 
 
 
 
 
324

 
324

Chubb integration expenses
 
 
 
 
 
 
 
 
 
 
 
 
23

 
23

Income tax expense
 
 
 
 
 
 
 
 
 
 
 
 
353

 
353

Net income (loss)


 
 
 
 
 
 
 
 
 
 
 
$
(995
)
 
$
2,376




 
North America Commercial P&C Insurance (1)

 
North America Personal P&C Insurance

 
North America Agricultural Insurance

 
Overseas General Insurance (1)

 
Global
Reinsurance

 
Life Insurance

 
Corporate

 
Chubb
Consolidated

For the Six Months Ended
 
 
 
 
 
June 30, 2017
 
 
 
 
 
(in millions of U.S. dollars)
 
 
 
 
 
Net premiums written
$
5,933

 
$
2,239

 
$
464

 
$
4,219

 
$
389

 
$
1,047

 
$

 
$
14,291

Net premiums earned
6,140

 
2,179

 
358

 
3,954

 
357

 
1,021

 

 
14,009

Losses and loss expenses
3,796

 
1,316

 
217

 
2,035

 
140

 
375

 
56

 
7,935

Policy benefits

 

 

 

 

 
331

 

 
331

Policy acquisition costs
951

 
447

 
26

 
1,084

 
94

 
244

 

 
2,846

Administrative expenses
472

 
131

 
(3
)
 
488

 
22

 
149

 
123

 
1,382

Underwriting income (loss)
921

 
285

 
118

 
347

 
101

 
(78
)
 
(179
)
 
1,515

Net investment income (loss)
968

 
111

 
12

 
296

 
127

 
152

 
(151
)
 
1,515

Other (income) expense

 
2

 
1

 
(4
)
 
1

 
(41
)
 
(174
)
 
(215
)
Amortization expense of purchased intangibles

 
8

 
14

 
22

 

 
1

 
84

 
129

Segment income (loss)
$
1,889

 
$
386

 
$
115

 
$
625

 
$
227

 
$
114

 
$
(240
)
 
$
3,116

Net realized gains (losses) including OTTI
 
 
 
 
 
 
 
 
 
 
 
 
94

 
94

Interest expense
 
 
 
 
 
 
 
 
 
 
 
 
301

 
301

Chubb integration expenses
 
 
 
 
 
 
 
 
 
 
 
 
183

 
183

Income tax expense
 
 
 
 
 
 
 
 
 
 
 
 
328

 
328

Net income (loss)
 
 
 
 
 
 
 
 
 
 
 
 
$
(958
)
 
$
2,398

(1) 
The 2017 net premiums written amount was revised to reflect the transfer of certain multinational accounts ($13 million) from the North America Commercial P&C Insurance segment to the Overseas General Insurance segment to better align the reporting with the management of these businesses in 2018. There is no impact on a consolidated basis.