Segment information (Tables)

3 Months Ended

Mar. 31, 2022

The following tables present the Statement of Operations by segment:


For the Three Months Ended March 31, 2022 (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	$	4,039	$	1,180	$	62	$	3,079	$	253	$	586	$	—	$	—	$	9,199
Net premiums earned	4,114		1,247		(29)		2,628		235		551		—		—		8,746
Losses and loss expenses	2,497		713		(92)		1,389		115		154		10		1		4,787
Policy benefits	—		—		—		—		—		176		—		(31)		145
Policy acquisition costs	573		260		12		679		62		151		—		—		1,737
Administrative expenses	265		69		(1)		269		9		84		83		—		778
Underwriting income (loss)	779		205		52		291		49		(14)		(93)		30		1,299
Net investment income (loss)	489		59		7		147		85		103		(5)		(63)		822
Other (income) expense	6		1		—		2		—		(28)		(259)		(32)		(310)
Amortization expense of purchased intangibles	—		2		7		14		—		2		46		—		71
Segment income	$	1,262	$	261	$	52	$	422	$	134	$	115	$	115	$	(1)	$	2,360
Net realized gains (losses)													100		1		101
Interest expense													132		—		132
Income tax expense													355		—		355
Net income (loss)													$	(272)	$	—	$	1,974


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