Segment information (Tables)

9 Months Ended

Sep. 30, 2022

The following tables present the Statement of Operations by segment:


For the Three Months Ended September 30, 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	$	4,722	$	1,392	$	1,723	$	2,645	$	265	$	1,273	$	—	$	—	$	12,020
Net premiums earned	4,283		1,334		1,673		2,741		255		1,249		—		—		11,535
Losses and loss expenses	3,036		857		1,444		1,441		311		135		74		(19)		7,279
Policy benefits	—		—		—		—		—		553		—		(67)		486
Policy acquisition costs	583		274		68		720		59		271		—		—		1,975
Administrative expenses	272		71		3		264		8		174		91		—		883
Underwriting income (loss)	392		132		158		316		(123)		116		(165)		86		912
Net investment income	589		76		9		151		71		147		5		(69)		979
Other (income) expense	6		1		1		(2)		—		(10)		194		(2)		188
Amortization expense of purchased intangibles	—		2		7		12		—		2		46		—		69
Segment income (loss)	$	975	$	205	$	159	$	457	$	(52)	$	271	$	(400)	$	19	$	1,634
Net realized gains (losses)													(365)		(19)		(384)
Interest expense													150		—		150
Cigna integration expenses													23		—		23
Income tax expense													265		—		265
Net income (loss)													$	(1,203)	$	—	$	812


For the Three Months Ended September 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	$	4,369	$	1,300	$	1,415	$	2,596	$	221	$	609	$	—	$	—	$	10,510
Net premiums earned	3,954		1,244		1,338		2,664		211		589		—		—		10,000
Losses and loss expenses	2,754		846		1,138		1,487		192		179		43		(10)		6,629
Policy benefits	—		—		—		—		—		175		—		(24)		151
Policy acquisition costs	537		254		61		703		55		168		—		—		1,778
Administrative expenses	273		73		4		266		9		82		99		—		806
Underwriting income (loss)	390		71		135		208		(45)		(15)		(142)		34		636
Net investment income (loss)	507		60		6		157		99		102		(10)		(55)		866
Other (income) expense	8		1		—		—		—		(19)		(722)		(31)		(763)
Amortization expense of purchased intangibles	—		2		7		11		—		2		49		—		71
Segment income	$	889	$	128	$	134	$	354	$	54	$	104	$	521	$	10	$	2,194
Net realized gains (losses)													(11)		(10)		(21)
Interest expense													122		—		122
Income tax expense													218		—		218
Net income													$	170	$	—	$	1,833


For the Nine Months Ended September 30, 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	$	13,426	$	3,998	$	2,523	$	8,364	$	780	$	2,430	$	—	$	—	$	31,521
Net premiums earned	12,645		3,852		2,217		8,065		712		2,347		—		—		29,838
Losses and loss expenses	7,979		2,343		1,830		4,054		565		437		275		(9)		17,474
Policy benefits	—		—		—		—		—		906		—		(116)		790
Policy acquisition costs	1,701		792		111		2,096		178		573		—		—		5,451
Administrative expenses	814		213		4		811		27		346		264		—		2,479
Underwriting income (loss)	2,151		504		272		1,104		(58)		85		(539)		125		3,644
Net investment income (loss)	1,600		199		23		460		232		359		(4)		(180)		2,689
Other (income) expense	12		3		1		3		1		(50)		73		(64)		(21)
Amortization expense of purchased intangibles	—		7		20		40		—		7		137		—		211
Segment income (loss)	$	3,739	$	693	$	274	$	1,521	$	173	$	487	$	(753)	$	9	$	6,143
Net realized gains (losses)													(778)		(9)		(787)
Interest expense													416		—		416
Cigna integration expenses													26		—		26
Income tax expense													913		—		913
Net income (loss)													$	(2,886)	$	—	$	4,001


For the Nine Months Ended September 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	$	12,318	$	3,761	$	2,110	$	7,983	$	702	$	1,844	$	—	$	—	$	28,718
Net premiums earned	11,431		3,652		1,858		7,721		583		1,789		—		—		27,034
Losses and loss expenses	7,740		2,341		1,554		3,936		422		562		141		(8)		16,688
Policy benefits	—		—		—		—		—		508		—		(5)		503
Policy acquisition costs	1,540		746		100		2,070		147		538		—		—		5,141
Administrative expenses	772		200		10		811		27		247		258		—		2,325
Underwriting income (loss)	1,379		365		194		904		(13)		(66)		(399)		13		2,377
Net investment income (loss)	1,582		189		21		447		250		301		(42)		(135)		2,613
Other (income) expense	24		(3)		—		3		—		(79)		(1,845)		(130)		(2,030)
Amortization expense of purchased intangibles	—		8		20		36		—		4		148		—		216
Segment income	$	2,937	$	549	$	195	$	1,312	$	237	$	310	$	1,256	$	8	$	6,804
Net realized gains (losses)													841		(8)		833
Interest expense													366		—		366
Income tax expense													873		—		873
Net income													$	858	$	—	$	6,398