Segment information (Tables)

12 Months Ended

Dec. 31, 2021


For the Year Ended December 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	$	16,415	$	5,002	$	2,388	$	10,713	$	873	$	2,477	$	—	$	—	$	37,868
Net premiums earned	15,461		4,915		2,338		10,441		798		2,402		—		—		36,355
Losses and loss expenses	10,015		2,924		1,962		5,143		632		740		572		(8)		21,980
Policy benefits	—		—		—		—		—		707		—		(8)		699
Policy acquisition costs	2,082		1,001		124		2,799		200		712		—		—		6,918
Administrative expenses	1,052		276		(3)		1,078		35		333		365		—		3,136
Underwriting income (loss)	2,312		714		255		1,421		(69)		(90)		(937)		16		3,622
Net investment income (loss)	2,078		249		28		597		331		407		(55)		(179)		3,456
Other (income) expense	31		(2)		1		—		—		(106)		(2,118)		(171)		(2,365)
Amortization expense of purchased intangibles	—		10		26		48		—		5		198		—		287
Segment income	$	4,359	$	955	$	256	$	1,970	$	262	$	418	$	928	$	8	$	9,156
Net realized gains (losses)													1,160		(8)		1,152
Interest expense													492		—		492
Income tax expense													1,277		—		1,277
Net income													$	319	$	—	$	8,539


For the Year Ended December 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	$	14,474	$	4,920	$	1,846	$	9,335	$	731	$	2,514	$	—	$	—	$	33,820
Net premiums earned	13,964		4,866		1,822		9,285		698		2,482		—		—		33,117
Losses and loss expenses	10,129		3,187		1,544		5,255		435		724		435		1		21,710
Policy benefits	—		—		—		—		—		726		—		58		784
Policy acquisition costs	1,942		974		123		2,568		174		766		—		—		6,547
Administrative expenses	1,006		270		9		1,034		37		320		303		—		2,979
Underwriting income (loss)	887		435		146		428		52		(54)		(738)		(59)		1,097
Net investment income (loss)	2,061		260		30		534		307		385		(87)		(115)		3,375
Other (income) expense	23		5		1		13		2		(74)		(791)		(173)		(994)
Amortization expense of purchased intangibles	—		11		27		45		—		4		203		—		290
Segment income (loss)	$	2,925	$	679	$	148	$	904	$	357	$	401	$	(237)	$	(1)	$	5,176
Net realized gains (losses)													(499)		1		(498)
Interest expense													516		—		516

Income tax expense													629		—		629
Net income (loss)													$	(1,881)	$	—	$	3,533


For the Year Ended December 31, 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		Segment Measure Reclass		Chubb Consolidated
Net premiums written	$	13,375	$	4,787	$	1,810	$	9,262	$	649	$	2,392	$	—	$	—	$	32,275
Net premiums earned	12,922		4,694		1,795		8,882		654		2,343		—		—		31,290
Losses and loss expenses	8,206		3,043		1,616		4,606		352		757		158		(8)		18,730
Policy benefits	—		—		—		—		—		696		—		44		740
Policy acquisition costs	1,831		948		84		2,501		169		620		—		—		6,153
Administrative expenses	1,028		286		6		1,033		35		323		319		—		3,030
Underwriting income (loss)	1,857		417		89		742		98		(53)		(477)		(36)		2,637
Net investment income (loss)	2,109		258		30		588		279		373		(125)		(86)		3,426
Other (income) expense	24		3		1		12		1		(48)		(459)		(130)		(596)
Amortization expense of purchased intangibles	—		12		28		45		—		2		218		—		305
Segment income (loss)	$	3,942	$	660	$	90	$	1,273	$	376	$	366	$	(361)	$	8	$	6,354
Net realized gains (losses) including OTTI													(522)		(8)		(530)
Interest expense													552		—		552
Chubb integration expenses													23		—		23
Income tax expense													795		—		795
Net income (loss)													$	(2,253)	$	—	$	4,454

The following table presents net premiums earned for each segment by line of business:



	For the Year Ended December 31
(in millions of U.S. dollars)	2021		2020		2019
North America Commercial P&C Insurance
Property & other short-tail lines	$	2,942	$	2,423	$	1,987
Casualty & all other	11,905		10,812		10,136
A&H	614		729		799
Total North America Commercial P&C Insurance	15,461		13,964		12,922
North America Personal P&C Insurance
Personal automobile	781		822		829
Personal homeowners	3,384		3,327		3,183
Personal other	750		717		682
Total North America Personal P&C Insurance	4,915		4,866		4,694
North America Agricultural Insurance	2,338		1,822		1,795
Overseas General Insurance
Property & other short-tail lines	3,105		2,468		2,244
Casualty & all other	3,114		2,738		2,494
Personal lines	2,109		1,981		1,896
A&H	2,113		2,098		2,248
Total Overseas General Insurance	10,441		9,285		8,882
Global Reinsurance
Property	151		104		131
Property catastrophe	190		173		142
Casualty & all other	457		421		381
Total Global Reinsurance	798		698		654
Life Insurance
Life	1,320		1,317		1,101
A&H	1,082		1,165		1,242
Total Life Insurance	2,402		2,482		2,343
Total net premiums earned	$	36,355	$	33,117	$	31,290