Segment information (Tables)

3 Months Ended

Mar. 31, 2021

The following tables present the Statement of Operations by segment:


For the Three Months Ended March 31, 2021 (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		Segment Measure Reclass		Chubb Consolidated



Net premiums written	$	3,664	$	1,098	$	183	$	2,890	$	207	$	620	$	—	$	—	$	8,662
Net premiums earned	3,674		1,184		110		2,478		180		595		—		—		8,221
Losses and loss expenses	2,560		819		85		1,263		120		198		9		(1)		5,053
Policy benefits	—		—		—		—		—		163		—		4		167
Policy acquisition costs	514		247		12		668		45		179		—		—		1,665
Administrative expenses	254		60		3		266		8		82		71		—		744
Underwriting income (loss)	346		58		10		281		7		(27)		(80)		(3)		592
Net investment income (loss)	540		65		7		141		70		98		(17)		(41)		863
Other (income) expense	2		1		—		1		—		(34)		(415)		(45)		(490)
Amortization expense of purchased intangibles	—		3		7		12		—		1		49		—		72
Segment income	$	884	$	119	$	10	$	409	$	77	$	104	$	269	$	1	$	1,873
Net realized gains (losses)													888		(1)		887
Interest expense													122		—		122

Income tax expense													338		—		338
Net income													$	697	$	—	$	2,300


For the Three Months Ended March 31, 2020 (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		Segment Measure Reclass		Chubb Consolidated



Net premiums written	$	3,252	$	1,107	$	157	$	2,598	$	218	$	645	$	—	$	—	$	7,977
Net premiums earned	3,376		1,200		94		2,307		186		631		—		—		7,794
Losses and loss expenses	2,181		683		65		1,258		87		202		11		(2)		4,485
Policy benefits	—		—		—		—		—		185		—		(56)		129
Policy acquisition costs	492		245		11		642		45		180		—		—		1,615
Administrative expenses	259		68		4		258		10		76		66		—		741
Underwriting income (loss)	444		204		14		149		44		(12)		(77)		58		824
Net investment income (loss)	525		66		9		145		69		95		(24)		(24)		861
Other (income) expense	6		2		—		4		—		(12)		23		32		55
Amortization expense of purchased intangibles	—		3		7		12		—		1		50		—		73
Segment income (loss)	$	963	$	265	$	16	$	278	$	113	$	94	$	(174)	$	2	$	1,557
Net realized gains (losses)													(956)		(2)		(958)
Interest expense													132		—		132

Income tax expense													215		—		215
Net income (loss)													$	(1,477)	$	—	$	252