Segment information (Tables)

6 Months Ended

Jun. 30, 2021

The following tables present the Statement of Operations by segment:


For the Three Months Ended June 30, 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	$	4,285	$	1,363	$	512	$	2,497	$	274	$	615	$	—	$	—	$	9,546
Net premiums earned	3,803		1,224		410		2,579		192		605		—		—		8,813
Losses and loss expenses	2,426		676		331		1,186		110		185		89		3		5,006
Policy benefits	—		—		—		—		—		170		—		15		185
Policy acquisition costs	489		245		27		699		47		191		—		—		1,698
Administrative expenses	245		67		3		279		10		83		88		—		775
Underwriting income (loss)	643		236		49		415		25		(24)		(177)		(18)		1,149
Net investment income (loss)	535		64		8		149		81		101		(15)		(39)		884
Other (income) expense(1)	14		(5)		—		2		—		(26)		(708)		(54)		(777)
Amortization expense of purchased intangibles	—		3		6		13		—		1		50		—		73
Segment income	$	1,164	$	302	$	51	$	549	$	106	$	102	$	466	$	(3)	$	2,737
Net realized gains (losses)													(36)		3		(33)
Interest expense													122		—		122
Income tax expense													317		—		317
Net income (loss)													$	(9)	$	—	$	2,265

(1)Principally includes our share of operating income and market-to-market gains on private equities where we hold more than three percent. Refer to Note 11 for additional information.


For the Three Months Ended June 30, 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	$	3,720	$	1,327	$	461	$	2,021	$	207	$	619	$	—	$	—	$	8,355
Net premiums earned	3,595		1,192		376		2,194		163		608		—		—		8,128
Losses and loss expenses	3,498		762		313		1,485		73		171		276		(1)		6,577
Policy benefits	—		—		—		—		—		183		—		40		223
Policy acquisition costs	471		231		29		624		42		196		—		—		1,593
Administrative expenses	249		66		3		241		9		82		77		—		727
Underwriting income (loss)	(623)		133		31		(156)		39		(24)		(353)		(39)		(992)
Net investment income (loss)	509		65		7		121		60		95		(22)		(8)		827
Other (income) expense	6		1		1		5		1		(17)		109		(48)		58
Amortization expense of purchased intangibles	—		3		6		11		—		1		51		—		72
Segment income (loss)	$	(120)	$	194	$	31	$	(51)	$	98	$	87	$	(535)	$	1	$	(295)
Net realized gains (losses)													31		(1)		30
Interest expense													128		—		128
Income tax benefit													(62)		—		(62)
Net loss													$	(570)	$	—	$	(331)


For the Six Months Ended June 30, 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	$	7,949	$	2,461	$	695	$	5,387	$	481	$	1,235	$	—	$	—	$	18,208
Net premiums earned	7,477		2,408		520		5,057		372		1,200		—		—		17,034
Losses and loss expenses	4,986		1,495		416		2,449		230		383		98		2		10,059
Policy benefits	—		—		—		—		—		333		—		19		352
Policy acquisition costs	1,003		492		39		1,367		92		370		—		—		3,363
Administrative expenses	499		127		6		545		18		165		159		—		1,519
Underwriting income (loss)	989		294		59		696		32		(51)		(257)		(21)		1,741
Net investment income (loss)	1,075		129		15		290		151		199		(32)		(80)		1,747
Other (income) expense	16		(4)		—		3		—		(60)		(1,123)		(99)		(1,267)
Amortization expense of purchased intangibles	—		6		13		25		—		2		99		—		145
Segment income	$	2,048	$	421	$	61	$	958	$	183	$	206	$	735	$	(2)	$	4,610
Net realized gains (losses)													852		2		854
Interest expense													244		—		244
Income tax expense													655		—		655
Net income													$	688	$	—	$	4,565


For the Six Months Ended June 30, 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	$	6,972	$	2,434	$	618	$	4,619	$	425	$	1,264	$	—	$	—	$	16,332
Net premiums earned	6,971		2,392		470		4,501		349		1,239		—		—		15,922
Losses and loss expenses	5,679		1,445		378		2,743		160		373		287		(3)		11,062
Policy benefits	—		—		—		—		—		368		—		(16)		352
Policy acquisition costs	963		476		40		1,266		87		376		—		—		3,208
Administrative expenses	508		134		7		499		19		158		143		—		1,468
Underwriting income (loss)	(179)		337		45		(7)		83		(36)		(430)		19		(168)
Net investment income (loss)	1,034		131		16		266		129		190		(46)		(32)		1,688
Other (income) expense	12		3		1		9		1		(29)		132		(16)		113
Amortization expense of purchased intangibles	—		6		13		23		—		2		101		—		145
Segment income (loss)	$	843	$	459	$	47	$	227	$	211	$	181	$	(709)	$	3	$	1,262
Net realized gains (losses)													(925)		(3)		(928)
Interest expense													260		—		260
Income tax expense													153		—		153
Net loss													$	(2,047)	$	—	$	(79)