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 | | | | | | | September 30, 2018 | | | | | | | (in millions of U.S. dollars) | | | | | | | Net premiums written | $ | 3,199 |
| | $ | 1,218 |
| | $ | 884 |
| | $ | 2,081 |
| | $ | 164 |
| | $ | 564 |
| | $ | — |
| | $ | 8,110 |
| Net premiums earned | 3,019 |
| | 1,167 |
| | 857 |
| | 2,157 |
| | 157 |
| | 551 |
| | — |
| | 7,908 |
| Losses and loss expenses | 1,881 |
| | 860 |
| | 719 |
| | 1,114 |
| | 86 |
| | 195 |
| | 13 |
| | 4,868 |
| Policy benefits | — |
| | — |
| | — |
| | — |
| | — |
| | 127 |
| | — |
| | 127 |
| Policy acquisition costs | 458 |
| | 236 |
| | 49 |
| | 582 |
| | 40 |
| | 139 |
| | — |
| | 1,504 |
| Administrative expenses | 251 |
| | 69 |
| | 2 |
| | 252 |
| | 10 |
| | 77 |
| | 58 |
| | 719 |
| Underwriting income (loss) | 429 |
| | 2 |
| | 87 |
| | 209 |
| | 21 |
| | 13 |
| | (71 | ) | | 690 |
| Net investment income (loss) | 503 |
| | 59 |
| | 7 |
| | 155 |
| | 63 |
| | 85 |
| | (49 | ) | | 823 |
| Other (income) expense | (1 | ) | | — |
| | — |
| | (7 | ) | | (13 | ) | | 20 |
| | (144 | ) | | (145 | ) | Amortization expense of purchased intangibles | — |
| | 4 |
| | 7 |
| | 8 |
| | — |
| | — |
| | 64 |
| | 83 |
| Segment income (loss) | $ | 933 |
|
| $ | 57 |
|
| $ | 87 |
|
| $ | 363 |
|
| $ | 97 |
|
| $ | 78 |
|
| $ | (40 | ) |
| $ | 1,575 |
| Net realized gains (losses) including OTTI | | | | | | | | | | | | | 19 |
| | 19 |
| Interest expense | | | | | | | | | | | | | 164 |
| | 164 |
| Chubb integration expenses | | | | | | | | | | | | | 16 |
| | 16 |
| Income tax expense | | | | | | | | | | | | | 183 |
| | 183 |
| Net income (loss) | | | | | | | | | | | | | $ | (384 | ) | | $ | 1,231 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 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 | | | | | | | September 30, 2017 | | | | | | | (in millions of U.S. dollars) | | | | | | | Net premiums written | $ | 3,086 |
| | $ | 1,194 |
| | $ | 926 |
| | $ | 1,966 |
| | $ | 191 |
| | $ | 539 |
| | $ | — |
| | $ | 7,902 |
| Net premiums earned | 3,016 |
| | 1,117 |
| | 898 |
| | 2,064 |
| | 185 |
| | 527 |
| | — |
| | 7,807 |
| Losses and loss expenses | 2,580 |
| | 1,062 |
| | 759 |
| | 1,281 |
| | 295 |
| | 181 |
| | 89 |
| | 6,247 |
| Policy benefits | — |
| | — |
| | — |
| | — |
| | — |
| | 169 |
| | — |
| | 169 |
| Policy acquisition costs | 469 |
| | 226 |
| | 49 |
| | 569 |
| | 43 |
| | 132 |
| | — |
| | 1,488 |
| Administrative expenses | 256 |
| | 61 |
| | (1 | ) | | 246 |
| | 11 |
| | 77 |
| | 64 |
| | 714 |
| Underwriting income (loss) | (289 | ) | | (232 | ) | | 91 |
| | (32 | ) | | (164 | ) | | (32 | ) | | (153 | ) | | (811 | ) | Net investment income (loss) | 497 |
| | 57 |
| | 6 |
| | 164 |
| | 80 |
| | 78 |
| | (69 | ) | | 813 |
| Other (income) expense | (4 | ) | | 1 |
| | — |
| | (10 | ) | | (3 | ) | | (19 | ) | | (83 | ) | | (118 | ) | Amortization expense of purchased intangibles | — |
| | 4 |
| | 8 |
| | 11 |
| | — |
| | 1 |
| | 41 |
| | 65 |
| Segment income (loss) | $ | 212 |
| | $ | (180 | ) | | $ | 89 |
| | $ | 131 |
| | $ | (81 | ) | | $ | 64 |
| | $ | (180 | ) | | $ | 55 |
| Net realized gains (losses) including OTTI | | | | | | | | | | | | | (10 | ) | | (10 | ) | Interest expense | | | | | | | | | | | | | 150 |
| | 150 |
| Chubb integration expenses | | | | | | | | | | | | | 50 |
| | 50 |
| Income tax benefit | | | | | | | | | | | | | (85 | ) | | (85 | ) | Net loss | | | | | | | | | | | | | $ | (305 | ) | | $ | (70 | ) |
| | (1) | The 2017 net premiums written amount was revised to reflect the transfer of certain multinational accounts ($3 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 Nine Months Ended | | | | | | September 30, 2018 | | | | | | (in millions of U.S. dollars) | | | | | | Net premiums written | $ | 9,342 |
| | $ | 3,601 |
| | $ | 1,380 |
| | $ | 6,664 |
| | $ | 554 |
| | $ | 1,688 |
| | $ | — |
| | $ | 23,229 |
| Net premiums earned | 9,325 |
| | 3,463 |
| | 1,251 |
| | 6,425 |
| | 492 |
| | 1,643 |
| | — |
| | 22,599 |
| Losses and loss expenses | 5,873 |
| | 2,474 |
| | 955 |
| | 3,263 |
| | 236 |
| | 584 |
| | 72 |
| | 13,457 |
| Policy benefits | — |
| | — |
| | — |
| | — |
| | — |
| | 428 |
| | — |
| | 428 |
| Policy acquisition costs | 1,378 |
| | 701 |
| | 74 |
| | 1,754 |
| | 120 |
| | 405 |
| | — |
| | 4,432 |
| Administrative expenses | 735 |
| | 202 |
| | — |
| | 757 |
| | 29 |
| | 235 |
| | 200 |
| | 2,158 |
| Underwriting income (loss) | 1,339 |
| | 86 |
| | 222 |
| | 651 |
| | 107 |
| | (9 | ) | | (272 | ) | | 2,124 |
| Net investment income (loss) | 1,516 |
| | 177 |
| | 20 |
| | 461 |
| | 192 |
| | 253 |
| | (162 | ) | | 2,457 |
| Other (income) expense | (20 | ) | | 1 |
| | 1 |
| | (12 | ) | | (26 | ) | | 24 |
| | (275 | ) | | (307 | ) | Amortization expense of purchased intangibles | — |
| | 10 |
| | 21 |
| | 29 |
| | — |
| | 1 |
| | 192 |
| | 253 |
| Segment income (loss) | $ | 2,875 |
| | $ | 252 |
| | $ | 220 |
| | $ | 1,095 |
| | $ | 325 |
| | $ | 219 |
| | $ | (351 | ) | | $ | 4,635 |
| Net realized gains (losses) including OTTI | | | | | | | | | | | | | 35 |
| | 35 |
| Interest expense | | | | | | | | | | | | | 488 |
| | 488 |
| Chubb integration expenses | | | | | | | | | | | | | 39 |
| | 39 |
| Income tax expense | | | | | | | | | | | | | 536 |
| | 536 |
| Net income (loss) |
|
| | | | | | | | | | | | $ | (1,379 | ) | | $ | 3,607 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 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 Nine Months Ended | | | | | | September 30, 2017 | | | | | | (in millions of U.S. dollars) | | | | | | Net premiums written | $ | 9,019 |
| | $ | 3,433 |
| | $ | 1,390 |
| | $ | 6,185 |
| | $ | 580 |
| | $ | 1,586 |
| | $ | — |
| | $ | 22,193 |
| Net premiums earned | 9,156 |
| | 3,296 |
| | 1,256 |
| | 6,018 |
| | 542 |
| | 1,548 |
| | — |
| | 21,816 |
| Losses and loss expenses | 6,376 |
| | 2,378 |
| | 976 |
| | 3,316 |
| | 435 |
| | 556 |
| | 145 |
| | 14,182 |
| Policy benefits | — |
| | — |
| | — |
| | — |
| | — |
| | 500 |
| | — |
| | 500 |
| Policy acquisition costs | 1,420 |
| | 673 |
| | 75 |
| | 1,653 |
| | 137 |
| | 376 |
| | — |
| | 4,334 |
| Administrative expenses | 728 |
| | 192 |
| | (4 | ) | | 734 |
| | 33 |
| | 226 |
| | 187 |
| | 2,096 |
| Underwriting income (loss) | 632 |
| | 53 |
| | 209 |
| | 315 |
| | (63 | ) | | (110 | ) | | (332 | ) | | 704 |
| Net investment income (loss) | 1,465 |
| | 168 |
| | 18 |
| | 460 |
| | 207 |
| | 230 |
| | (220 | ) | | 2,328 |
| Other (income) expense | (4 | ) | | 3 |
| | 1 |
| | (14 | ) | | (2 | ) | | (60 | ) | | (257 | ) | | (333 | ) | Amortization expense of purchased intangibles | — |
| | 12 |
| | 22 |
| | 33 |
| | — |
| | 2 |
| | 125 |
| | 194 |
| Segment income (loss) | $ | 2,101 |
| | $ | 206 |
| | $ | 204 |
| | $ | 756 |
| | $ | 146 |
| | $ | 178 |
| | $ | (420 | ) | | $ | 3,171 |
| Net realized gains (losses) including OTTI | | | | | | | | | | | | | 84 |
| | 84 |
| Interest expense | | | | | | | | | | | | | 451 |
| | 451 |
| Chubb integration expenses | | | | | | | | | | | | | 233 |
| | 233 |
| Income tax expense | | | | | | | | | | | | | 243 |
| | 243 |
| Net income (loss) | | | | | | | | | | | | | $ | (1,263 | ) | | $ | 2,328 |
|
| | (1) | The 2017 net premiums written amount was revised to reflect the transfer of certain multinational accounts ($16 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. |
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