Operations By Segment |
The following tables present the Statement of Operations by segment: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended September 30, 2019 (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 |
| | Corporate |
| | Chubb Consolidated |
| | | | | | | | | | | | | | | | | | | Net premiums written | $ | 3,452 |
| | $ | 1,251 |
| | $ | 938 |
| | $ | 2,228 |
| | $ | 141 |
| | $ | 612 |
| | $ | — |
| | $ | 8,622 |
| Net premiums earned | 3,185 |
| | 1,187 |
| | 941 |
| | 2,256 |
| | 160 |
| | 598 |
| | — |
| | 8,327 |
| Losses and loss expenses | 2,051 |
| | 674 |
| | 866 |
| | 1,154 |
| | 79 |
| | 190 |
| | 38 |
| | 5,052 |
| Policy benefits | — |
| | — |
| | — |
| | — |
| | — |
| | 158 |
| | — |
| | 158 |
| Policy acquisition costs | 459 |
| | 240 |
| | 56 |
| | 630 |
| | 42 |
| | 176 |
| | — |
| | 1,603 |
| Administrative expenses | 256 |
| | 72 |
| | 4 |
| | 257 |
| | 9 |
| | 80 |
| | 74 |
| | 752 |
| Underwriting income (loss) | 419 |
| | 201 |
| | 15 |
| | 215 |
| | 30 |
| | (6 | ) | | (112 | ) | | 762 |
| Net investment income (loss) | 532 |
| | 66 |
| | 8 |
| | 148 |
| | 55 |
| | 92 |
| | (28 | ) | | 873 |
| Other (income) expense | (1 | ) | | 1 |
| | — |
| | 3 |
| | (16 | ) | | (10 | ) | | (34 | ) | | (57 | ) | Amortization expense of purchased intangibles | — |
| | 3 |
| | 7 |
| | 11 |
| | — |
| | 1 |
| | 54 |
| | 76 |
| Segment income (loss) | $ | 952 |
|
| $ | 263 |
|
| $ | 16 |
|
| $ | 349 |
|
| $ | 101 |
|
| $ | 95 |
|
| $ | (160 | ) |
| $ | 1,616 |
| Net realized gains (losses) including OTTI | | | | | | | | | | | | | (155 | ) | | (155 | ) | Interest expense | | | | | | | | | | | | | 138 |
| | 138 |
| Chubb integration expenses | | | | | | | | | | | | | 2 |
| | 2 |
| Income tax expense | | | | | | | | | | | | | 230 |
| | 230 |
| Net income (loss) | | | | | | | | | | | | | $ | (685 | ) | | $ | 1,091 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended September 30, 2018 (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 |
| | Corporate |
| | Chubb Consolidated |
| | | | | | | | | | | | | | | | | | | 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 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Nine Months Ended September 30, 2019 (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 |
| | Corporate |
| | Chubb Consolidated |
| | | | | | | | | | | | | | | | | | | Net premiums written | $ | 9,937 |
| | $ | 3,616 |
| | $ | 1,534 |
| | $ | 6,881 |
| | $ | 540 |
| | $ | 1,770 |
| | $ | — |
| | $ | 24,278 |
| Net premiums earned | 9,660 |
| | 3,509 |
| | 1,374 |
| | 6,595 |
| | 487 |
| | 1,730 |
| | — |
| | 23,355 |
| Losses and loss expenses | 6,238 |
| | 2,178 |
| | 1,155 |
| | 3,385 |
| | 245 |
| | 581 |
| | 83 |
| | 13,865 |
| Policy benefits | — |
| | — |
| | — |
| | — |
| | — |
| | 515 |
| | — |
| | 515 |
| Policy acquisition costs | 1,377 |
| | 708 |
| | 90 |
| | 1,855 |
| | 127 |
| | 454 |
| | — |
| | 4,611 |
| Administrative expenses | 755 |
| | 211 |
| | 9 |
| | 771 |
| | 26 |
| | 237 |
| | 211 |
| | 2,220 |
| Underwriting income (loss) | 1,290 |
| | 412 |
| | 120 |
| | 584 |
| | 89 |
| | (57 | ) | | (294 | ) | | 2,144 |
| Net investment income (loss) | 1,563 |
| | 194 |
| | 22 |
| | 443 |
| | 166 |
| | 278 |
| | (98 | ) | | 2,568 |
| Other (income) expense | (4 | ) | | 2 |
| | 1 |
| | 10 |
| | (40 | ) | | (57 | ) | | (238 | ) | | (326 | ) | Amortization expense of purchased intangibles | — |
| | 9 |
| | 21 |
| | 34 |
| | — |
| | 2 |
| | 163 |
| | 229 |
| Segment income (loss) | $ | 2,857 |
|
| $ | 595 |
| | $ | 120 |
| | $ | 983 |
| | $ | 295 |
| | $ | 276 |
| | $ | (317 | ) | | $ | 4,809 |
| Net realized gains (losses) including OTTI | | | | | | | | | | | | | (475 | ) | | (475 | ) | Interest expense | | | | | | | | | | | | | 418 |
| | 418 |
| Chubb integration expenses | | | | | | | | | | | | | 9 |
| | 9 |
| Income tax expense | | | | | | | | | | | | | 626 |
| | 626 |
| Net income (loss) | | | | | | | | | | | | | $ | (1,845 | ) | | $ | 3,281 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Nine Months Ended September 30, 2018 (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 |
| | Corporate |
| | Chubb Consolidated |
| | | | | | | | | | | | | | | | | | | 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 |
|
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