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Investments (Tables)
 12 Months Ended
Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
Debt securities Available for sale
December 31, 2021Amortized
Cost		Valuation AllowanceGross Unrealized AppreciationGross Unrealized DepreciationFair Value
(in millions of U.S. dollars)
Available for sale
U.S. Treasury / Agency$2,111 $— $109 $(6)$2,214 
Non-U.S.25,156 (8)953 (272)25,829 
Corporate and asset-backed securities37,844 (6)1,410 (185)39,063 
Mortgage-backed securities20,080 — 532 (123)20,489 
Municipal5,302 — 216 (5)5,513 
$90,493 $(14)$3,220 $(591)$93,108 
Amortized CostValuation AllowanceNet Carrying ValueGross Unrealized AppreciationGross Unrealized DepreciationFair
Value
Held to maturity
U.S. Treasury / Agency$1,213 $— $1,213 $34 $(3)$1,244 
Non-U.S.1,201 (5)1,196 66 — 1,262 
Corporate and asset-backed securities2,032 (28)2,004 197 — 2,201 
Mortgage-backed securities1,731 (1)1,730 74 (1)1,803 
Municipal3,976 (1)3,975 162 — 4,137 
$10,153 $(35)$10,118 $533 $(4)$10,647 
December 31, 2020Amortized
Cost		Valuation AllowanceGross
Unrealized
Appreciation		Gross Unrealized DepreciationFair Value
(in millions of U.S. dollars)
Available for sale
U.S. Treasury / Agency$2,471 $— $199 $— $2,670 
Non-U.S.24,594 (6)1,808 (42)26,354 
Corporate and asset-backed securities34,095 (14)2,322 (72)36,331 
Mortgage-backed securities17,456 — 1,022 (8)18,470 
Municipal6,572 — 304 (2)6,874 
$85,188 $(20)$5,655 $(124)$90,699 
Amortized CostValuation AllowanceNet Carrying ValueGross Unrealized AppreciationGross Unrealized DepreciationFair Value
Held to maturity
U.S. Treasury / Agency$1,392 $— $1,392 $60 $— $1,452 
Non-U.S.1,295 (7)1,288 118 (1)1,405 
Corporate and asset-backed securities2,185 (35)2,150 288 — 2,438 
Mortgage-backed securities2,000 (1)1,999 148 (1)2,146 
Municipal4,825 (1)4,824 245 — 5,069 
$11,697 $(44)$11,653 $859 $(2)$12,510 
Debt Securities Held to Maturity
December 31, 2021Amortized
Cost		Valuation AllowanceGross Unrealized AppreciationGross Unrealized DepreciationFair Value
(in millions of U.S. dollars)
Available for sale
U.S. Treasury / Agency$2,111 $— $109 $(6)$2,214 
Non-U.S.25,156 (8)953 (272)25,829 
Corporate and asset-backed securities37,844 (6)1,410 (185)39,063 
Mortgage-backed securities20,080 — 532 (123)20,489 
Municipal5,302 — 216 (5)5,513 
$90,493 $(14)$3,220 $(591)$93,108 
Amortized CostValuation AllowanceNet Carrying ValueGross Unrealized AppreciationGross Unrealized DepreciationFair
Value
Held to maturity
U.S. Treasury / Agency$1,213 $— $1,213 $34 $(3)$1,244 
Non-U.S.1,201 (5)1,196 66 — 1,262 
Corporate and asset-backed securities2,032 (28)2,004 197 — 2,201 
Mortgage-backed securities1,731 (1)1,730 74 (1)1,803 
Municipal3,976 (1)3,975 162 — 4,137 
$10,153 $(35)$10,118 $533 $(4)$10,647 
December 31, 2020Amortized
Cost		Valuation AllowanceGross
Unrealized
Appreciation		Gross Unrealized DepreciationFair Value
(in millions of U.S. dollars)
Available for sale
U.S. Treasury / Agency$2,471 $— $199 $— $2,670 
Non-U.S.24,594 (6)1,808 (42)26,354 
Corporate and asset-backed securities34,095 (14)2,322 (72)36,331 
Mortgage-backed securities17,456 — 1,022 (8)18,470 
Municipal6,572 — 304 (2)6,874 
$85,188 $(20)$5,655 $(124)$90,699 
Amortized CostValuation AllowanceNet Carrying ValueGross Unrealized AppreciationGross Unrealized DepreciationFair Value
Held to maturity
U.S. Treasury / Agency$1,392 $— $1,392 $60 $— $1,452 
Non-U.S.1,295 (7)1,288 118 (1)1,405 
Corporate and asset-backed securities2,185 (35)2,150 288 — 2,438 
Mortgage-backed securities2,000 (1)1,999 148 (1)2,146 
Municipal4,825 (1)4,824 245 — 5,069 
$11,697 $(44)$11,653 $859 $(2)$12,510 
Debt Securities, Held-to-maturity, Credit Quality Indicator
The following table presents the amortized cost of our HTM securities according to S&P rating:

December 31
20212020
(in millions of U.S. dollars)Amortized cost% of TotalAmortized cost % of Total
AAA$2,089 21 %$2,511 22 %
AA5,303 52 %6,193 53 %
A1,964 19 %2,138 18 %
BBB773 8 %826 7 %
BB23 — %28 — %
Other1 — %1 — %
Total$10,153 100 %$11,697 100 %
Schedule Of Fixed Maturities By Contractual Maturity
The following table presents fixed maturities by contractual maturity:

December 31
20212020 
(in millions of U.S. dollars)Net Carrying ValueFair ValueNet Carrying ValueFair Value
Available for sale
Due in 1 year or less$4,498 $4,498 $4,760 $4,760 
Due after 1 year through 5 years25,542 25,542 26,227 26,227 
Due after 5 years through 10 years28,207 28,207 27,232 27,232 
Due after 10 years14,372 14,372 14,010 14,010 
72,619 72,619 72,229 72,229 
Mortgage-backed securities20,489 20,489 18,470 18,470 
$93,108 $93,108 $90,699 $90,699 
Held to maturity
Due in 1 year or less$888 $894 $1,231 $1,240 
Due after 1 year through 5 years3,744 3,846 3,592 3,760 
Due after 5 years through 10 years2,242 2,349 3,029 3,228 
Due after 10 years1,514 1,755 1,802 2,136 
8,388 8,844 9,654 10,364 
Mortgage-backed securities1,730 1,803 1,999 2,146 
$10,118 $10,647 $11,653 $12,510 
Schedule Of Aggregate Fair Value And Gross Unrealized Loss By Length Of Time The Security Has Continuously Been In An Unrealized Loss Position
The following tables present, for AFS fixed maturities in an unrealized loss position (including securities on loan) that are not deemed to have expected credit losses, the aggregate fair value and gross unrealized loss by length of time the security has continuously been in an unrealized loss position:
 0 – 12 MonthsOver 12 MonthsTotal
December 31, 2021Fair ValueGross
Unrealized Loss		Fair ValueGross
Unrealized Loss		Fair ValueGross
Unrealized Loss
(in millions of U.S. dollars)
U.S. Treasury / Agency$363 $(3)$70 $(3)$433 $(6)
Non-U.S.6,917 (196)1,093 (62)8,010 (258)
Corporate and asset-backed securities9,449 (145)806 (32)10,255 (177)
Mortgage-backed securities8,086 (116)190 (7)8,276 (123)
Municipal
226 (5)— — 226 (5)
Total AFS fixed maturities$25,041 $(465)$2,159 $(104)$27,200 $(569)

 0 – 12 MonthsOver 12 MonthsTotal
December 31, 2020Fair ValueGross
Unrealized Loss		Fair ValueGross
Unrealized Loss		Fair ValueGross
Unrealized Loss
(in millions of U.S. dollars)
Non-U.S.$1,628 $(35)$114 $(5)$1,742 $(40)
Corporate and asset-backed securities2,212 (33)593 (14)2,805 (47)
Mortgage-backed securities875 (6)35 (2)910 (8)
Municipal
40 (1)16 (1)56 (2)
Total AFS fixed maturities$4,755 $(75)$758 $(22)$5,513 $(97)
Schedule Of Net Realized Gains (Losses) And The Losses Included In Net Realized Gains (Losses) And OCI
The following table presents the components of net realized gains (losses) and the change in net unrealized appreciation (depreciation) of investments:
 Year Ended December 31
(in millions of U.S. dollars)202120202019
Fixed maturities:
OTTI on fixed maturities, gross$— $— $(90)
OTTI on fixed maturities recognized in OCI (pre-tax)— — 32 
OTTI on fixed maturities, net— — (58)
Gross realized gains excluding OTTI142 244 203 
Gross realized losses excluding OTTI(123)(366)(176)
Net (provision for) recovery of expected credit losses14 11 — 
Impairment (1)
(30)(170)— 
Total fixed maturities3 (281)(31)
Equity securities662 586 104 
Other investments 111 (32)(20)
Foreign exchange348 (483)7 
Investment and embedded derivative instruments(72)81 (435)
Fair value adjustments on insurance derivative316 (202)(4)
S&P futures(202)(108)(138)
Other derivative instruments(8)1 (8)
Other(6)(60)(5)
Net realized gains (losses) (pre-tax)$1,152 $(498)$(530)
Change in net unrealized appreciation (depreciation) on investments (pre-tax):
Fixed maturities available for sale$(2,901)$2,628 $3,769 
Fixed maturities held to maturity(18)(24)(31)
Other(19)(12)(3)
Income tax (expense) benefit521 (462)(647)
Change in net unrealized appreciation (depreciation) on investments (after-tax)$(2,417)$2,130 $3,088 
Gain (Loss) on Securities [Table Text Block]
Realized gains and losses from Equity securities and Other investments from the table above include sales of securities and unrealized gains and losses from fair value changes as follows:

Year Ended December 31
202120202019
(in millions of U.S. dollars)Equity SecuritiesOther InvestmentsTotalEquity SecuritiesOther InvestmentsTotalEquity SecuritiesOther InvestmentsTotal
Net gains (losses) recognized during the period$662 $111 $773 $586 $(32)$554 $104 $(20)$84 
Less: Net gains (losses) recognized from sales of securities157 — 157 455 — 455 58 (5)53 
Unrealized gains (losses) recognized for securities still held at reporting date$505 $111 $616 $131 $(32)$99 $46 $(15)$31 
Debt Securities, Available-for-sale, Allowance for Credit Loss
The following table presents a roll-forward of valuation allowance for expected credit losses on fixed maturities:
Year Ended December 31
(in millions of U.S. dollars)20212020
Available for sale
Valuation allowance for expected credit losses - beginning of period$20 $— 
Impact of adoption of new accounting guidance— 25 
Provision for expected credit loss14 188 
Initial allowance for purchased securities with credit deterioration— 5 
Write-offs charged against the expected credit loss— (5)
Recovery of expected credit loss(20)(193)
Valuation allowance for expected credit losses - end of period$14 $20 
Held to maturity
Valuation allowance for expected credit losses - beginning of period$44 $— 
Impact of adoption of new accounting guidance— 44 
Provision for expected credit loss1 9 
Recovery of expected credit loss(10)(9)
Valuation allowance for expected credit losses - end of period$35 $44 

The following table presents a roll-forward of pre-tax credit losses related to fixed maturities for which a portion of OTTI was recognized in OCI: 
Year Ended December 31
(in millions of U.S. dollars)2019
Balance of credit losses related to securities still held – beginning of year$34 
Additions where no OTTI was previously recorded33 
Additions where an OTTI was previously recorded4 
Reductions for securities sold during the period(41)
Balance of credit losses related to securities still held – end of year$30 
Debt Securities, Held-to-maturity, Allowance for Credit Loss
The following table presents a roll-forward of valuation allowance for expected credit losses on fixed maturities:
Year Ended December 31
(in millions of U.S. dollars)20212020
Available for sale
Valuation allowance for expected credit losses - beginning of period$20 $— 
Impact of adoption of new accounting guidance— 25 
Provision for expected credit loss14 188 
Initial allowance for purchased securities with credit deterioration— 5 
Write-offs charged against the expected credit loss— (5)
Recovery of expected credit loss(20)(193)
Valuation allowance for expected credit losses - end of period$14 $20 
Held to maturity
Valuation allowance for expected credit losses - beginning of period$44 $— 
Impact of adoption of new accounting guidance— 44 
Provision for expected credit loss1 9 
Recovery of expected credit loss(10)(9)
Valuation allowance for expected credit losses - end of period$35 $44 

The following table presents a roll-forward of pre-tax credit losses related to fixed maturities for which a portion of OTTI was recognized in OCI: 
Year Ended December 31
(in millions of U.S. dollars)2019
Balance of credit losses related to securities still held – beginning of year$34 
Additions where no OTTI was previously recorded33 
Additions where an OTTI was previously recorded4 
Reductions for securities sold during the period(41)
Balance of credit losses related to securities still held – end of year$30 
Schedule Of Other Investments
December 31
(in millions of U.S. dollars)20212020
Alternative investments:
Partially-owned investment companies$9,210 $5,969 
Limited partnerships631 547 
Investment funds267 254 
Alternative investments10,108 6,770 
Life insurance policies481 438 
Policy loans243 233 
Non-qualified separate account assets (1)
278 316 
Other59 188 
Total$11,169 $7,945 
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Table Text Block] The following table presents, by investment category, the expected liquidation period, fair value, and maximum future funding commitments of alternative investments: 
December 31
 20212020
(in millions of U.S. dollars)Expected Liquidation
Period of Underlying Assets		Fair ValueMaximum
Future Funding
Commitments		Fair ValueMaximum
Future Funding
Commitments
Financial
2 to 10 Years
$1,096 $267 $673 $237 
Real assets
2 to 11 Years
1,193 766 805 598 
Distressed
2 to 8 Years
753 641 358 970 
Private credit
3 to 8 Years
84 279 88 270 
Traditional
2 to 14 Years
6,647 5,200 4,519 1,125 
Vintage
1 to 2 Years
68 — 73 — 
Investment fundsNot Applicable267 — 254 — 
$10,108 $7,153 $6,770 $3,200 
Schedule Of Partially Owned Insurance Companies
The following table presents Investments in partially-owned insurance companies:
December 31, 2021December 31, 2020
(in millions of U.S. dollars, except for percentages)Carrying ValueGoodwillDirect Ownership PercentageCarrying ValueGoodwillDirect Ownership PercentageDomicile
Huatai Group$2,698 $1,355 47 %$2,461 $1,313 47 %China
Huatai Life Insurance Company253 71 20 %201 69 20 %China
Freisenbruch-Meyer10 3 40 %10 3 40 %Bermuda
Chubb Arabia Cooperative Insurance Company23 — 30 %23 — 30 %Saudi Arabia
Russian Reinsurance Company4 — 23 %4 — 23 %Russia
ABR Reinsurance Ltd.142 — 17 %114 — 16 %Bermuda
Total$3,130 $1,429 $2,813 $1,385 
Schedule Of Sources Of Net Investment Income
Year Ended December 31
(in millions of U.S. dollars)2021 2020 2019 
Fixed maturities (1)
$3,300 $3,321 $3,385 
Short-term investments35 48 84 
Other interest income 11 19 25 
Equity securities150 81 26 
Other investments147 82 78 
Gross investment income (1)
3,643 3,551 3,598 
Investment expenses(187)(176)(172)
Net investment income (1)
$3,456 $3,375 $3,426 
(1) Includes amortization expense related to fair value adjustment of acquired invested assets
    related to the Chubb Corp acquisition
$(84)$(116)$(161)
Schedule Of Components Of Restricted Assets
The following table presents the components of restricted assets: 
December 31
(in millions of U.S. dollars)20212020
Trust funds$9,915 $12,305 
Deposits with U.S. regulatory authorities2,402 2,438 
Deposits with non-U.S. regulatory authorities2,873 2,905 
Assets pledged under repurchase agreements1,420 1,462 
Other pledged assets634 584 
Total$17,244 $19,694