Related Party Disclosures (Tables)

12 Months Ended

Dec. 31, 2020

Transactions generated under Starr agreements were as follows:


	Year Ended December 31
(in millions of U.S. dollars)	2020		2019		2018
Consolidated statement of operations
Gross premiums written	$	507	$	394	$	411
Ceded premiums written	$	253	$	207	$	188
Commissions paid	$	97	$	77	$	84
Commissions received	$	59	$	46	$	42
Losses and loss expenses	$	170	$	185	$	188
Consolidated balance sheets
Reinsurance recoverable on losses and loss expenses	$	432	$	440
Ceded reinsurance premium payable	$	80	$	56

ABR Re

We own 15.6 percent of the common equity of ABR Reinsurance Capital Holdings Ltd. and warrants to acquire 0.5 percent of additional equity. ABR Reinsurance Capital Holdings Ltd., is the parent company of ABR Reinsurance Ltd. (ABR Re), an independent reinsurance company. Through long-term arrangements, Chubb will be the sole source of reinsurance risks ceded to ABR Re, and BlackRock, Inc. will be ABR Re’s exclusive investment management service provider. As an investor, Chubb is expected to benefit from underwriting profit generated by ABR Re’s reinsuring a wide range of Chubb’s primary insurance business and the income and capital appreciation BlackRock, Inc. seeks to deliver through its investment management services. In addition, Chubb has entered into an arrangement with BlackRock, Inc. under which both Chubb and BlackRock, Inc. will be entitled to an equal share of the aggregate amount of certain fees, including underwriting and investment management performance related fees, in connection with their respective reinsurance and investment management arrangements with ABR Re.

ABR Re is a variable interest entity; however, Chubb is not the primary beneficiary and does not consolidate ABR Re because Chubb does not have the power to control and direct ABR Re’s most significant activities, including investing and underwriting. Our minority ownership interest is accounted for under the equity method of accounting. Chubb cedes premiums to ABR Re and recognizes the associated commissions.

Transactions generated under ABR Re agreements were as follows:


	Year Ended December 31
(in millions of U.S. dollars)	2020		2019		2018
Consolidated statement of operations
Ceded premiums written	$	350	$	321	$	329
Commissions received	$	100	$	92	$	96

Consolidated balance sheets
Reinsurance recoverable on losses and loss expenses	$	806	$	674
Ceded reinsurance premium payable	$	67	$	62